Ethereum Classic (ETC) Nosedives After Running Into Trend Line Resistance

Ethereum Classic (ETC) has nosedived after running into a strong trend line resistance. The price is now expected to fall down to the 50 day moving average if not lower. We might see some consolidation short term before a possible move to the upside. That being said, this whole setup is increasingly appearing to be more bearish than ever. If the price ends up falling below the 21 day exponential moving average, it will have a hard time going up. We believe that the price is likely to remain above the 50 day moving average for now and continue to trade sideways before its next move to the upside. This move will most likely be the final correction to the upside before we enter the fifth and final wave of the Elliot wave correction cycle.
So far, it appears that ETC/USD is holding up well against a sharp decline to lower levels. However, the price has entered overbought conditions short term and a drop to the bottom of the triangle would not be surprising. That being said, a move to the upside has to happen before the price can continue going down. In the past few weeks, Ethereum Classic (ETC) has had a lot of new events and conferences. The teams working on this blockchain are working harder than ever to capitalize on the full potential of the Ethereum Classic blockchain. We have seen new Dapps being built on the ETC blockchain and the community is growing at a very fast pace. Ethereum Classic (ETC) has had issues with funding in the rest past but what we want to see is how it fares during the bloodbath that is about to come.

Historically, Ethereum Classic (ETC) has a good track record of holding its ground better than most other cryptocurrencies during a market correction. We have already seen a horrible correction in the market that has led to most coins losing more than 95% of their value. However, when things are this bad it does not mean that they cannot get any worse. In fact, we have strong reasons to believe that they are going to get worse and when that happens we will see a lot of ICOs and useless projects get wiped out. Ethereum Classic (ETC) has a market cap of less than $500 million. The next correction would mean that things could get pretty bad and it would be a test for Ethereum Classic (ETC) to prove its mettle during tough times.
The daily chart for ETC/BTC shows that Ethereum Classic (ETC) faced strong rejection at the 50 day moving average despite several attempts at a breakout. Ultimately, it had to accept defeat and fell significantly below the 50 Day MA. The price could now settle atop the trend line resistance turned support of a previous falling wedge. This might be a good point of consolidation for ETC/BTC before its next move to the upside. This next move to the upside will most likely be insignificant and will be followed by a sharp decline to the previous support around December, 2018 low.
Source: Crypto Daily

Bahrain Central Bank Launches New Blockchain Initiative

The Central Bank of Bahrain (CBB) the governing bank within Bahrain have recently announced a new blockchain initiative that aims to set up a regulatory ‘sandbox’ that will allow new and existing blockchain and crypto based companies to work in the country, once new regulations have been established at a government level.
During December 2018, the CBB did publish a proposal that suggests the CBB would look to regulate cryptocurrencies with the view to ensure that the country became open to more industrial crypto-engagement. This also suggested that the CBB would issue licenses within their regulations. The new sandbox initiative launched by the CBB seems to continue this proposal and provides a real framework within which these regulations can exist. For now, we believe the CBB will be allowing crypto companies to operate in Bahrain for the next nine-months on a trial basis.
Dalal Buhejji, the Business Manager for Bahrain’s Economic Development Board has said that:

“This sandbox will allow businesses to test their solution on a limited number of users, with a limited number of transactions.”

So far, it seems 28 companies have been approved and will be setting up their own trials within Bahrain during this nine-month experimental period, one such firm is SprinkleXchange, a blockchain based IPO platform based in New York.
Furthermore, according to Coin Telegraph:

“The bid to attract blockchain talent to the country comes as Bahrain’s economy strives to offset mounting debt in the aftermath of a slump in crude oil prices in 2014. Last year, the country’s allies pledged $10 billion in aid to support its ailing economy — the smallest of the six members of the oil-rich Gulf Cooperation Council.”

This is a very significant move for the CBB and promises to ignite a new sort of industry within Bahrain, one that is crypto-centric and one that is no doubt able to make a lot of money. Should this nine-month trial period go well, we expect to see solid regulations imposed that will allow more companies than ever before to kickstart blockchain operations within Bahrain, opening up the industry to the masses and putting Bahrain in the running as one of the most important and prolific blockchain hubs in the world. With CBB issued licenses available, this could have a very big impact on the mainstream adoption of cryptocurrency indeed and could even spur on some retail level investment.
Source: Crypto Daily

Rumours Are True, Samsung’s Galaxy S10 Has A Crypto Wallet

The tech world has been waiting with baited breath for today, the first official announcement day for the latest Samsung smartphone out of their flagship Galaxy series, the Samsung Galaxy S10. Samsung are one of the biggest mobile phone manufacturers in the first and are often noted for spearheading new mobile technologies that eventually go on to change the format of all popular mobile phones. It is because of this, the entire tech industry have been anticipating this most recent announcement, simply because it offers a window into the future, not just for Samsung phones but for every single smartphone manufacturer. The trend seems to be, whatever Samsung do, the others will do soon too.
Whilst we won’t explore the technology behind the phone (although it does look super cool) we want to focus on what the crypto community has been anticipating. There have been rumours surfacing for the past few months suggesting that Samsung could be including a huge level of crypto-functionality in their next series of phones. Today, the crypto industry have not been left disappointed after an announcement that the Samsung Galaxy S10 will allow its users to securely store their cryptocurrency – this is a huge move for Samsung because it is going to attract a lot of crypto investors, encouraging them to move from rival Apple and Huawei phones, to the Samsung Galaxy S10. I’m certain that this announcement will see a huge boost in sales.

The #GalaxyS10 is a next generation smartphone like no other.The next generation Galaxy has arrived.
— Samsung Mobile US (@SamsungMobileUS) February 20, 2019
Samsung Knox
The Samsung Galaxy S10 (and all future models we assume) will come with a feature named Samsung Knox, a built-in storage feature with hardware that provides an extra secure storage solution for your private keys. The official Samsung announcement states:

“Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.”

We have also seen images of something called the Samsung Blockchain KeyStore, a solution that looks to provide a working cryptocurrency storage solution, one that is no doubt secured by the Samsung Knox technology.
Source: Crypto Daily

Bitcoin (BTC) Loses Bullish Momentum, Price Eyes A Decline Towards 50 Day MA

Bitcoin (BTC) made its third attempt to breakout today and failed miserably as shown by the daily chart for BTC/USD. This rejection was a lot stronger than the one that preceded it. However, the way the price faced rejection when it tested the trend line resistance a few days back was enough to conclude that this rally did not have the momentum to continue before a retracement. We still believe that BTC/USD might make one last move to the upside before the imminent correction that would see the price fall to a new low in 2019. Bitmex CEO, Arthur Hayes recently said that Bitcoin (BTC) could drop to $2,000. While I do not believe the price might end up falling that low, I would not be surprised if it breaks below the 200 week moving average. If the price ends up closing below the 200 Week MA, anything is possible.
Considering that Bitcoin (BTC) still has one last move to make to the upside before entering another correction, we should expect that a retracement to the 21 day exponential moving average is imminent in the short term. This retracement is unlikely to be a straight drop and will more likely be a sideways consolidation which will ultimately result in the price touching the 21 Day EMA. This next move is likely to propel Bitcoin (BTC) towards $4,500 but there is a strong probability that the price may not stay there for long as the recent rally has made it clear that the bear trend is not over yet. The RSI and Stochastic RSI have both reached overbought conditions and signal a decline in price over the days and weeks ahead.

The bearish resolve has also been terribly weakened as BTCUSDShorts has fallen below a critical trend line support for the first time in more than 14 months. This is a big development that could explain why the bulls are feeling so confident all of a sudden. However, BTCUSDShorts is reluctant to continue trading down the descending channel and may retest the previous trend line support in the near future. That being said, it is clear the bears have had their run same as the bulls did just before the beginning of the bear market. The next drop from here may not be as straightforward and a lot of retail bears may not be able to capitalize on that.
The bearish resolve is significantly weakened at this point and the bulls are feeling confident short term, but the whales are running the show. They are going to allow the bulls to fall perfectly in the bull trap over the next few days and weeks after which they are going to pull the plugs. This is likely to catch both the bulls and the bears off-guard, which means a lot of blood will be spilled and the whales will come out as the only victors. However, those that are able to manage risk wisely and accumulate at lower levels without being greedy to margin trade for quick profits might find themselves in the same spot as the whales in the long term.
Source: Crypto Daily

The Detailed Guide To Understand Bitcoin Futures

 

Including to commodities or equities, Futures contract is advance trading asset. As the Bitcoin getting more population, the Bitcoin futures has been launched to traders. As this trend has developed, Cyptocurrency Futures will get into the main trading product by the time goes by. Bexplus exchange provide advance Cryptocurrency futures product to cryptocurrency lovers.

Bitcoin Futures.
Different from the spot market, future market allows traders to trade the contracts which the both counterparties agree that the purchase of the underlying assets with stated price and date happens in the future. The price of Futures contract is usually base to the value of the underlying asset, such as crude, gold or stock.
Futures contract has exited for a long time. In 1710, Japan bring out the first futures market—Dojima Rice Exchange. Some people think that prototype of futures market appear in 1750 BCs, the code of Hammurabi already give the right to deliver the goods with a settlement price in the agreed date at the future.

When traders are trading in the futures contract, they may consider about the purchase size, the trading date, the settlement date and the buy or sold options. Simply, Futures contracts can be created by two parties which the one seeing the uptrend value of the asset and the other think into the different direction.
The futures contract is the agreement of the purchase which means that the actual purchase may finally happen when the contract reach to the expiry. However, at present, traders, especially speculators or hedgers use futures contract to hedge against the risk of their investment or regards as a profitable tool in making money. The Futures contract usually pass through many hands before the expiry date. At present, it is the financial trading tools related to cash rather than the underlying asset.
There are some classical forms for investors to hedge against to the adverse value change direction of significant or necessary assets. Here is the simple example to explained these kinds of forms. Tomato is crucial source for Tomato soup, the volatile price Tomato can significantly affect the overall profit of the Tomato soup. We assume that the tomato price is rapidly goes up, the chef who do not wish to lose the profit will buy the 10 long position futures contracts (1contracts represent to 1 tomato) for hedging. Back to the case, if the tomato price is $1 at present and will significant rises to $10 in 3 months, the chef can execute the contract to buy 10 tomato by $1. But the value of the tomatoes become ten times compared to the previous price. In this case, the chef is a buyer of the contract who takes the long position. The counterparty is the seller who takes the short position. The chef is impossible to take the short position because the decline of the price is benefit to him.
The speculator has different pursue of the contract. They use the futures contract as the profitable tools. The will judges the direction of the price base to the market information of underlying asset and make money by the price movement.
In conclusion:
Hedgers take a long position to protect themselves from rising prices and take short position to against the declining prices.
Speculators go long because of the expectation of prices rising and go short because of the expectation of prices falling.
Bitcoin is ten years old in 2019. Its market cap is steady growth and traders become excited that some cryptocurrency exchange launch futures products. For example, The Bexplus futures exchange.
Bexplus Exchange.
Bexplus is an advance Bitcoin futures platform. It mission is to provide premium financial services to traders who are interested in Bitcoin Futures.
At present, Bexplus Launches perpetual contracts of Bitcoin, Ethereum and litecoin with up to 100x leverage. In the future, they will launch more altcoins futures.
Bexplus believes that blockchain and cryptocurrency will bring a significant impact on the global financial market. the founding team is consisted by senior blockchain architects, experienced financial traders and Internet professionals. They spent years to build up Bexplus exchange for giving traders a secure and reliable trading environment.
 

 
The bexplus trading guide of Futures contract

Futures contracts option

Bitcoin, Ethereum and Litecoin.

Trading hours

24hours, 7 days a week.

minimum volume and maximum volume?

All volume is counted after leverage
Minimum:
Bitcoin futures contract-0.1
Ethereum futures contract-1
Litecoin futures contract-10
Maximum:
Bitcoin futures contract-100
Ethereum futures contract-2000
Litecoin futures contract-10000
 

Adding orders

the price will change after you add positions.
Calculation formula:
Suppose the original cost price is X, and quantity is Y; now positions are added, the cost price becomes A, and quantity becomes B.
The formula is as follows:
The average cost price C=(X*Y+A*B)/( Y+B)
 
Last but not the least, come to take the bonus.
Bonus Part:
Don’t forget to Register with invitation code 8y7Xx to acquire a 10% OFF charge fee.
Bexplus activities:
New upgraded Bonus Activity: Deposit Activity to Earn 100% BTC Cashback
To deposit BTC in the Bexplus account, you can earn a 100% BTC bonus, which can also be used to trade futures contracts. The more deposit, the more bonus you will get. You can get up to 10 BTC as a bonus!
Read more: https://www.bexplus.com/en/cash_back
Invite Friends to Register to Get 30% Commission
Invite friends to register and trade in Bexplus, you can get 30% of your invitees’ transaction fee. In addition, both you and your invitees can enjoy 10% OFF service charge.
Read more: https://www.bexplus.com/en/account/activity_show
Before you trading cryptocurrency futures contract, suggest you understand more about it. You can also try it in the Bexplus trading simulator with 10 BTC preset and enjoy the fun of making a great profit more easily.
Follow Bexplus on:
Website: www.bexplus.com
Facebook: https://www.facebook.com/Bexplusglobal/
Telegram: https://t.me/bexplusexchange
Reddit: www.reddit.com/u/bexplus
For Business cooperation: business@bexplus.com
Source: Crypto Daily