Bitcoin Price Analysis November 29, 2017, Technical Analysis

Bitcoin continues to rally during the session here on Tuesday, as the Bollinger Bands are starting to show a very reliable move based upon the 20 SMA on the hourly charts. The $10,000 level above is an obvious target for most traders, and I think it’s somewhat of a foregone conclusion that the market is going to try to not only reach $10,000 but break above a given enough time. I do worry about the market once we do break above the $10,000 level, as there will more than likely be massive profit-taking by some traders out there. I believe that it will be typical of large, round, psychologically significant numbers, meaning that there will be a violent snapback, but eventually, traders will pile in once the dust settles and it seems safe to go long.

For those of you new to cryptocurrencies, don’t be alarmed if we end up losing $1000 on this pullback because quite frankly that’s only a 10% drop, which is minor in the relatively thin world of Bitcoin. The market should continue to be very noisy though, and certainly, I think that with the overall general public suddenly getting involved, we could see the next search higher. However, there’s also the argument to be made that this is the “dumb money,” as 300,000 accounts were opened just last weekend at Coinbase. I believe that Bitcoin is at a significant level, as now that the general public is starting to think about trading it, and that the $10,000 level is starting to hit the headlines and become talked about in various places, this often will become the top of a bubble. That’s not to say that we are going to break down now, quite frankly I assume we are going to go above $10,000 and the short-term, but we are certainly overbought by just about any metric you measure it.

As I look at this chart, especially in the monthly timeframe, and with the various headlines and conversations that I am hearing, it’s hard for me not to think about just a few years ago when supermodels were refusing to be paid in anything but euros, gold-dispensing ATMs were suddenly going to be a thing, and buying a house was a sure bet, as you can just refinance it because property values only go up. This isn’t to say the Bitcoin is going to evaporate, but we are beyond frothy at this point. Currently, buying on dips would be the only way I would get involved, with $9800 looking to be supportive, just as the $9600 level will be.

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 29/11/17

Bitcoin Cash a Distant 2nd

Big brother Bitcoin grabbed all the headlines in the early hours today, breaking through the $10,000 barrier with little resistance and no pull back. Bitcoin Cash, in stark contrast, headed south and looks to be in be on a downward path back towards $1,250 and even lower.

Bitcoin cash holders may be rethinking their strategy on which is likely to be the leader of the pack, with Bitcoin’s resurgence seemingly relentless as the markets look ahead to what price targets are set for 2018.

It’s not been a bad quarter for Bitcoin Cash, having gained 240% in the current quarter, compared with Bitcoin’s 128% gain over the same period, but the milestones paint an altogether different picture for the pair. Bitcoin Cash’s one time entry into $2,000 levels remains a distant memory and, while Bitcoin Cash has tried to break through $1,800 levels and have another run at $2,000, resistance is strong and Bitcoin’s ascendency has ultimately weighed.

At the time of writing, Bitcoin Cash was down 3.27% at $1,431.60, compared with Bitcoin’s 4% gain with the markets likely to be relatively nonchalant of another $1,000 breakthrough for Bitcoin.

BCHUSD291117

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Litecoin Hits a Century Riding on Bitcoin’s Coattails

While Bitcoin Cash and Ripple struggle through the early part of the day, Bitcoin and Litecoin are full steam ahead, with Litecoin up 3.85% to $98.13 at the time of writing.

In the early hours of this morning, Litecoin managed to kiss $100 levels briefly before falling back, though as things stand, Litecoin looks to have the momentum.

With the number of cryptocurrencies in the market, some consolidation is natural considering the youth of the sector, excluding Bitcoin of course. Recent performances and shifts in ranges suggest that Litecoin will benefit from any consolidation, its performance being more correlated to Bitcoin than the other cryptocurrencies.

We will expect it to be a little choppier today however, with the success of hitting the $100 mark leaving some to question what’s next, with investors likely to lock in gains ahead of any possible correction back to the lower ranges.

LTCUSD 291117

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Ripple struggles

It’s been a less spectacular start to the day for Ripple that has struggled alongside Bitcoin Cash.

Ripple’s run at $0.30 was thwarted yet again this morning, hitting a high of $0.2839, before falling back to current levels.

There are concerns that resistance levels are continuing to build at sub-$0.30 levels, making each attempted run all the more difficult, as investors look to trade in the ranges that Ripple as moved within over recent days

The blockchain tech may be warmly received, but the cryptocurrency has yet to have as significant an impact as its technology.

At the time of writing, Ripple was down 4.92% to $0.2662, with support levels likely to be tested through the day.

XRPUSD 291117

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Bitcoin and Ethereum Price Forecast – Bitcoin Prices Crack $10,000

The bitcoin prices have finally cracked the $10,000 mark, something that we have been anticipating since the beginning of the week. The latest moves in the bitcoin market have been really quick, even by BTC standards and that has made some of the traders and the investors a bit jittery and they are being faced with the usual emotional conundrum of whether to join the bitcoin race and continue to buy it even at these levels or whether to wait for a correction and then it on their buys. It has been a period of fast developments in the bitcoin market over the last couple of months and some of the traders have been finding it difficult to keep pace.

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Bitcoin Prices Push Through $10,000

The drive higher has been made possible due to some positive news in the form of the cancellation of the hard fork that was scheduled in the middle of November. Though the cancellation was immediately followed by a correction, it helped to prevent many investors and miners from moving away to another new coin and was thus useful for the bitcoin market in the long run. Also, over the last month or so, we have been hearing of increasing talk from various major exchanges like the CBOE who are planning to introduce bitcoin futures in their markets. This is a sign of the growing important of bitcoins and would only help it to mature. All these positive signals have helped the bitcoin prices to move higher and through the $10,000 region as of this writing.

Bitcoin 4H
Bitcoin 4H

The Ethereum market is back to its slumber as all the focus seems to be on the bitcoin market for now. It has failed to follow the BTC prices higher and it looks as though the ETH bulls have to wait longer for the prices to reach the $500 region. Again, we believe that this will be only a matter of time before it happens and any sort of correction in the prices can be used as an opportunity to buy.

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Forecast

Looking ahead to the rest of the day, we have to wait and see where the current bullish leg is going to take the bitcoin prices to. So far, the price has been very strong and it would not be wise to jump in at this stage. The ETH market is likely to continue to consolidate as the focus remains on the bitcoin industry.

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For those who are looking to take advantage of Bitcoin and other cryptocurrencies price fluctuations, some brokers provide traders with instant access to trade Bitcoin, Bitcoin Cash, Ethereum and other cryptocurrencies. The process is fast and easy with convenient and advanced trading platform (desktop and mobile), low spreads and instant execution. Click here for more details.

Markets Fight Back against Lows in Asia, Bitcoin Hits $10,000 on Some Exchange

U.S equities remained cautious on Monday. But Asian equities which opened lower today fought back against lower values. The U.K Bank Stress Test Results have been released and the Pound has gained today. The U.S will see the CB Consumer Confidence report later.

Wall Street Remains in Doldrums, U.S Growth Numbers Wednesday

An important Consumer Confidence reading will be published in the States today, but tomorrow’s Gross Domestic Product numbers will begin to get plenty of focus. Wall Street remained in the doldrums on Monday as investors worry about Washington politics. The U.S Dollar has been firm this morning. Sentiment on the major equity Indexes, particularly the S&P and Nasdaq appear fragile.

Bitcoin’s Rally Continues, Hits the 10,000 Level on Some Exchanges

Bitcoin, perhaps one of the biggest rallies in the history, continues its journey up as it hits for the first the $10,000 level on some exchanges, mainly in Asia. Bitcoin was trading at $5000 just two months ago. Reports about Bitcoin’s future continue to pop up, this time it’s the Billionaire hedge fund legend and former Fortress executive, Mike Novograz, that believes Bitcoin can reach $40,000 by 2018.

Asian Markets Lose Fractionally, Retail Sales from Japan Tomorrow

Asian equities turned in an interesting trading session. After opening with losses, the major Indexes saw some buying emerge. While declines were seen at the finish, the losses were fractional. The Nikkei Index has still put in a 2.17 percent increase the past month. The Yen has range traded, but is hovering near important support of 111.00 against the U.S Dollar. Retail Sales numbers will come from Japan early tomorrow.

Carney Delivers Clear Message, Pound Trades Higher on Remarks

The U.K Bank Stress Test Results showed the corporate banking sector remains solid, but Bank of England Governor Mark Carney expressed concerns about a disorganized Brexit which could put financial institutions at risk. Because of Carney’s straight forward manner, the Pound responded favorably and is near the 1.33 mark against the U.S Dollar. European equities have been cautious early, but have put in slight gains. Tomorrow German inflation data will be brought forward.

Active Gold Buyers Approach Resistance, Gold Drawing Interest

Gold buyers have been active and its value is around 1294.00 U.S Dollars an ounce. The precious metal is near important mid-term resistance. But if global equities remain under pressure, Gold could draw more speculative interest.

Canadian Inflation Data via Commodities, Consumer Reading from States

The Conference Board’s Consumer Confidence reading will spark the interest of traders upon its release in the U.S at 15:00 GMT.

  • 13:30 PM GMT Canada, Raw Materials Price Index
  • 14:00 PM GMT U.S., S&P/CS Composite-20 HPI
  • 15:00 PM GMT U.S., CB Consumer Confidence

Yaron Mazor is a senior analyst at SuperTraderTV.

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 28/11/17

Bitcoin Cash Lost But Not Yet Forgotten

Bitcoin cash has been stuck in its ranges as Bitcoin takes all the headlines ahead of what looks like an almost assured move into the $10,000 range. Nothing is ever certain in the markets and particularly so in the cryptocurrency world, but the moves in recent days have been with conviction.

We have seen Bitcoin Cash continue to struggle against Bitcoin, and with Bitcoin up 1.2% at $9824.14, Bitcoin cash is down 1.29% at $1564.9 through the early part of the day.

We continue to see support for Bitcoin Cash, but if talks of Bitcoin moving to $20,000 or $40,000 through next year begin to gather momentum, the moves over the last few weeks could see investors dump the holdings in favour of Bitcoin, which has delivered.

It’s not looking too upbeat for Bitcoin Cash today and we could see a move back towards $1,250 levels should support falter at $1,500. It’s likely to be in the hands of the Bitcoin rally, which seems unstoppable for now.

BCHUSD281117

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Litecoin Holds on after a Record Monday

Litecoin continues to hold on to $90 levels, with a number of dips below $90 finding strong support, as the ranges continue to rise in recent weeks from sub-$60s.

While Bitcoin is looking to make an unprecedented push through to $10,000, Litecoin managed to hit an all- time high $93.89 on Monday and it’s managed to avoid the proverbial post record sell-off that has been seen previously.

This suggests that we are unlikely to see Litecoin pull back over the near-term and look to make a run at the $100.

Once Bitcoin breaks into the magical $10,000 Litecoin may not be far behind in its push to $100.

LTCUSD 281117

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Ripple Joins in on the Cryptophoria

Ripple managed to break out beyond $0.26 earlier this morning, hitting a $0.273, but yet again failed to make a run at $0.30. Despite the failed attempts at a rally, Ripple has managed to hold on to its recent ranges and avoid a slide in recent days.

At the time of writing, Ripple is up 4.05% at $0.2577. It’s looking a bit choppy but direction through the day looks to be titled to the upside, though there’s plenty of resistance at $0.26, with Ripple having failed to break down the resistance since retreating back from the $0.27 levels.


Suggested Article: Top Five Cryptocurrencies Experts Talk about Bitcoin, Blockchain and ICO’s


Either way, it’s still a good day and assuming that there is no major correction in Bitcoin to spook the markets, the outlook for Ripple continues to remain positive, supported by the positive sentiment towards Ripple’s blockchain technology.

XRPUSD 281117

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Bitcoin and Ethereum Price Forecast – Prices Set Up for Major BreakThrough

The bitcoin prices continue to trade in a strong manner but as the prices get closer closer to the important and psychological mark of $10,000, we might see some of the traders and investors get jittery and try and take some profits. So, we might see some profit taking in this region which could slow down the move towards the $10,000 mark or we could see some large profit taking after that mark is breached which could lead to a correction in the prices. We will have to wait and see how long it is going to take for the bulls to overcome this sceptism and push the prices towards the coveted $10,000 mark. We had expected the prices to move towards this region towards the end of the year but it looks as though the new year might arrive a month early for the bitcoin market.

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Bitcoin Prices Just Short of $10,000

This price rise has been driven a lot by speculation and also due to the increasing adoption of blockchain and bitcoin by various industries. The central banks in many parts of the world continue to be reluctant to face the reality of the cryptocurrencies and continue to be in a denial mode which is both good and bad in a way, for the industry. But ultimately, there will come a time when the banks cannot ignore the presence of this alternate industry and during that time, we might see some regulations come into the market which will only help the market to become even more mature.

Bitcoin 4H
Bitcoin 4H

The Ethereum market also seems to be baulking as it gets closer to the $500 region and this is likely to continue for the short term. Like the BTC, the $500 mark is just another psychological mark for the growing ETH industry and we believe that it is only a matter of time before this mark is breached. We are as bullish in ETH as in BTC, if not more.

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Forecast

Looking ahead to the rest of the day, the focus will be on whether the BTC and ETH prices can move towards $10,000 and $500 respectively and if and when they do so, we will have to see what kind of a reaction that we see from the markets for such a move.

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For those who are looking to take advantage of Bitcoin and other cryptocurrencies price fluctuations, some brokers provide traders with instant access to trade Bitcoin, Bitcoin Cash, Ethereum and other cryptocurrencies. The process is fast and easy with convenient and advanced trading platform (desktop and mobile), low spreads and instant execution. Click here for more details.

$10,000 – Is Bitcoin Easy Money?

Well, Bitcoin’s weekly graph says it all. The stratospheric rise of Bitcoin to within a whisker of the $10,000 level, muted as a dream and even a fantasy by many people back at the beginning of January and during the current year. That fantasy has now become the reality.

Bitcoin Weekly Chart
Bitcoin Weekly Chart

The velocity which Bitcoin has raced up the charts has left even seasoned market observers reeling. Since it stalled in the spring, before starting its climb in July, the cryptocurrency has been virtually unstoppable.

The gap between the 21-day EMA (blue line) and the closing prices has widened – as well as the gap between the 55-day SMA (green line). Both of these indicators provide very strong resistance levels for any retracement, which is bound to occur once the $10,000 target will be achieved. Profit-taking, and worry that the momentum will have gone out of Bitcoin at this stage, will be the main reasons for this subsequent fall.

As usual, any retracements to these two support levels should be seen as buying opportunities.

The 21-day EMA, in particular, is around the psychological $5000 level. Many experts believe that this is the amount investors and miners will fight to maintain the minimum value of Bitcoin.

Should this level fail, the 55-day SMA is slightly above the $2500 level, which was seen as resistance, then support, back in the spring. All of which means Bitcoin shows strong resilience and is unlikely to crash to zero anytime soon.

A quick look at the daily chart backs this up.

Bitcoin Daily Chart
Bitcoin Daily Chart

Of course, it mirrors all of the comments above on the weekly chart, with the difference being the strength of the pulse signal and the positive DI indicators – these are even more pronounced here.

As for the fundamentals, these too remain strong. It is a win/win for Bitcoin that the price increase means more investors taking the cryptocurrency seriously – and the more people see investors taking it seriously and buying, the more the price increases.

Nikolay Storonsky, CEO, and co-founder of Revolute reiterated in an interview last week that Bitcoin was not a fraud, and several cryptocurrency services were being launched by his company soon.

The first real-time, P2P (peer-to-peer) payments app, for Coinbase users, is being rolled out by Digital Debit (part of Qondado). This will be the first direct challenge by Bitcoin to Zelle, Venmo, Square Cash, Western Union, and other real-time payment systems.

This new development scenario is playing out in other institutional investment circles too, with the news of Bitcoin’s demand has reached such a pace. If the demand continues at its present rate – Bitcoin’s mining electricity consumption will surpass all of the world’s electricity by February 2020. Now there’s a thought…

Noble Gold specializes in IRAs and 401(k) rollovers through precious metals and cryptocurrencies investments.

Market Snapshot – Bitcoin Is the Star of the Day

Bitcoin Prices Rocket Higher

The bitcoin prices have been continuing to skyrocket as the bulls seem to be on a roll over the last few days. Those who were hoping for a consolidation and a correction after the weekend have been left disappointed as there has been no such thing since the markets started this morning and the prices have since pushed through the $9500 region and so far, it appears that the $10,000 price region would only be a matter of time. ETH has also not been left too far behind as the prices of ETH have also been on the rise over the past few days and it looks as though the prices might push through to the $500 region in the short term, thus achieving their targets for the year. It has been a great few days for the bulls in both the markets but we are beginning to hear some worried voices who are warning of an impending fall.

Markets Expected to be Volatile

It is likely to be a volatile week in the markets as the dollar and the euro vie for attention. While the euro is waiting for some positive news from Germany, the dollar bulls are hoping that it would get a boost if and when the tax reform bill gets passed in the Senate. The dollar has been battered when the traders were away for the long weekend and it would hope to gain some love in the short term as the traders return.

Bitcoin Nears $10K, Ethereum Nears $500. What’s Next?

Bitcoin price is getting closer and closer to $10K, was trading at approximately $9,715, though price eased a bit to $9312 at the time of writing. By last summer’s end, big businesses were seen to gain an even greater interest in Bitcoin, likely entering the market on September 15, when the cryptocurrency lost 40%, dropping to $2,990. Since then, any skepticism surrounding Bitcoin, comparing it to the tulip mania and the dot-com bubble, has mostly died out, with media nowadays releasing exceptional forecasts about the bright future of cryptocurrencies, valuing Bitcoin’s future price at around $500K!

Ethereum, Bitcoin’s partner to crime, has surged to $491 on Monday morning, setting another new record. Ethereum is also expected to reach the $500 in the next days.

Naturally, speculative jumps have become all the more aggressive as media mentions, discussions between heads of countries and central bankers, as well as conferences, seem intent on persuading ordinary people not to lose the chance they have now of investing in Bitcoin.

As a pioneer among cryptocurrencies, Bitcoin is a benchmark in this field, though its potential future growth can hardly be predicted with any certainty. This applies to all altcoins. The community seems to benefit not only from news regarding software update or enhanced anonymity but even during conflicts between supporters and opponents of various protocols.


Suggested Article: How Blockchain will change our Life, Economy and the World


Currently, the market is anticipating that Bitcoin will reach $10K, with the lack of warning signals down to the lack of any doubts regarding further growth. It begins to seem those big businesses intended to profit from it. If this happens, there is a huge risk that big players start taking profit, with news provoking panic and sell-off. The cryptocurrency market currently seems like a playground for Wall Street tycoons, with JP Morgan Chase’s Jamie Dimon ‘looking at business opportunities in the planned Bitcoin-futures market’, albeit having labeled Bitcoin ‘a fraud’ just two months ago.

Once speculation is over, it is very likely that only the real business model projects will remain, such as logistics companies, accountancy or statistics firms reliant on the blockchain.

This article is written by FxPro

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 27/11/17

Bitcoin Cash Struggles against Big Brother

Bitcoin cash is coming in second through the early part of the day, with Bitcoin’s record breaking run over the weekend taking all the limelight.

Talk of Bitcoin hitting $10,000 before the end of the year had certainly done its rounds, but to be sitting at $9,531.97 before the end of November, $10,000 is going to be a foregone conclusion, assuming the bubble doesn’t burst.

We saw Bitcoin Cash make a run towards $2,000 at the end of last week and ahead of this morning’s open, but both attempts faced strong resistance at $1,700 levels and suggests that the outlook for Bitcoin remains more favourable at this point, the cryptoworld having been convinced that $10,000 is the right number.

The good news for Bitcoin Cash holders is that it’s managed to hold on to above $1,600 levels in spite of two failed attempts at breaking beyond the ranges hit over the weekend.

Bitcoin and Litecoin are the headlines for now, but the fickle world of crypto, things can change quite quickly. At the time of writing, Bitcoin Cash was down 2.64% at $1,670, with direction through the day likely to be titled towards the downside.

BCHUSD271117

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Litecoin Trail blazes

Litecoin managed to break free from its shackles and surge to beyond $90 this morning, in what has been quite a spectacular weekend for the cryptoworld.

Litecoin has certainly stood out of the crowd when it comes to Bitcoin’s competitors and suggests that the markets may beginning to decide its preferred cryptocurrencies over the near-term.

At the time of writing, Litecoin is up a whopping 7.86% to $93.43, with very little red on the hourly chart this morning.

Whether Litecoin can hold on to $90 levels through the day remains to be seen, with there likely to be some profit taking through the day.

LTCUSD 271117

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Ripple Wants to Join the Crypto Rally

Ripple looks as though it’s ready to make a move, with attempts to break out beyond $0.26 having faced strong resistance through the weekend.

The cryptocurrencies standing has certainly been on the rise, with financial institutions taking its blockchain technology to facilitate more efficient cross-border payments, but the currency itself seems to continue to sit back. The failure of Ripple to have garnered enough support through the weekend rally to make a run through to $0.30 will be a concern for Ripple holders holding out for a breakout.


Suggested Article: How Blockchain will change our Life, Economy and the World


We’re going to need to see a run soon, particularly with the likes of Bitcoin and Litecoin leaving the others behind in recent days. At the time of writing, Ripple was up 2.17% at $0.2499, with Ripple patience likely to be tested today.

XRPUSD 271117

The Best and Safest Way to Buy and Sell Bitcoins

For those who are looking to take advantage of Bitcoin and other cryptocurrencies price fluctuations, Some brokers provide traders with instant access to trade Bitcoin, Bitcoin Cash, Ethereum and other cryptocurrencies. The process is fast and easy with convenient and advanced trading platform (desktop and mobile), low spreads and instant execution. Click here for more details.

Bitcoin and Ethereum Price Forecast – BTC and ETH Rip to All Time Highs

Bitcoin prices ripped higher through the $9000 region as both bitcoin and ethereum chose to form a tag team in ripping the remaining bears in the market to pieces and move higher. The bitcoin prices breezed through the $9000 region and trades just short of the $9500 region as of this writing. We had mentioned a target of $10,000 in BTC by the end of the year but it looks as though the prices would reach there much sooner than that. This rapid move up in the prices has also led to doubts among many traders on whether this is the last move before a large correction as some traders develop cold feet on seeing such high prices within a short span of time.

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Bitcoin Prices Rip Through $9000

The bitcoin market has this habit of making large moves over the weekend as the rest of the markets are closed and hence the traders have the time to fully concentrate on this market alone. The last weekend was more of the same as the prices rose from the $8000 support region and rose by over 15% in a matter of days just showing how volatile it could be. It is clear that the drive higher has a lot of speculators doing their job and as such violent moves get more prevalent and lead to higher prices in a quick manner, more and more traders begin to feel that a top is most likely in within the next few days.

Bitcoin 4H
Bitcoin 4H

The Ethereum prices have also been moving higher and once they broke through the $415 region to make an all time high, they have since breezed through the $440 region and trade above the $460 region as of this writing and it looks as though the bullishness is back in the ETH markets, finally. With the BTC prices also continuing to move higher rapidly, we might see some traders and miners shift their focus to the ETH market which would be useful to keep this bullish leg running.

How Blockchain will change our Life, Economy and the World

Forecast

Looking ahead to the rest of the day, we expect some consolidation and correction happening in the BTC and ETH markets as the bulk of the traders return back to their desks after the long weekend and they may choose to take some profits off the table. With volatility still very higher, it is important for the traders to be careful.

The Best and Safest Way to Buy and Sell Bitcoins

For those who are looking to take advantage of Bitcoin and other cryptocurrencies price fluctuations, some brokers provide traders with instant access to trade Bitcoin, Bitcoin Cash, Ethereum and other cryptocurrencies. The process is fast and easy with convenient and advanced trading platform (desktop and mobile), low spreads and instant execution. Click here for more details.

How to Buy Bitcoin?

What is Bitcoin?

Bitcoin is a digital currency that does not exist in physical form and is created and held electronically. Unlike fiat money that is controlled by central banks and governments, Bitcoin and other cryptocurrencies are not controlled and are produced by miners globally, embracing the concept of decentralization.

Bitcoin came into existence in 2009 and was created by software developer Satoshi Nakamoto. Satoshi’s vision was to create an electronic payment system that was completely independent of central banks and governments.

Key elements of Bitcoin include:

  • Decentralized: Bitcoin does not fall under the control of any central authority and is under a network of computers across the world that verify transactions.
  • Anonymous: There’s been plenty of negative press over the use of cryptocurrencies by the criminal world. The very fact that you don’t need anything but an email address to set up a Bitcoin account means that buying and selling Bitcoin is completely anonymous.
  • Blockchain: Perhaps the greatest element of Bitcoin is the technology that drives it. The blockchain is a general ledger stored across all of the computers that mine Bitcoin and cannot be manipulated or edited. It records each and every transaction in the order that transactions occur.

Thanks to Satoshi, there are now a plethora of cryptocurrencies, but Bitcoin continues to be considered the master, despite the recent offshoots that have created Bitcoin Gold and Bitcoin Cash.

How to Buy Bitcoin?

One can get hold of bitcoins in a variety of ways. Bitcoin mining was one of the most popular ways of getting bitcoins until a couple of years back. But as more and more bitcoins were mined and with the total number of bitcoins being restricted to 21 million and with more than 16 to 17 million bitcoins already having been mined, the difficulty level for mining bitcoins has become huge and unless you have huge mining farms, profitable mining of bitcoins is out of the question these days.

The other major way to buy bitcoins is to buy them off exchanges. There are many bitcoin exchanges all around the world and some countries have their own domestic exchanges while there are international exchanges like Coinmama, CEX.IO, as well which cater to people from various countries. People can buy bitcoins from such exchanges using fiat currencies like the dollar or the euro or by using other cryptocurrencies as well.

Bitcoin prices have been very volatile over the last few months and it’s important for the customers to buy them at the right time and the right price as well. These exchanges provide the easiest and cheapest way to buy bitcoins. There are also bitcoin ATMs that have been launched in a few parts of the world and the clients can buy bitcoins at such ATMs as well, though the problem of their location and their high transaction costs have been a bit restrictive as far as their adoption by clients is concerned.

Buy Bitcoin via Exchange in 3 Easy Steps

The most common method to buy Bitcoin being via a Bitcoin exchange. These exchanges are basically those where people can buy and sell Bitcoins and the exchange facilitates this process, and in turn, takes some commissions out of this exchange of bitcoins. This is one of the most convenient ways to buy and sell Bitcoins for any traders. CEX.IO is an exchange that provides buying and selling of Bitcoins as well as other cryptocurrencies. Below is a step by step guide to Bitcoin via CEX.IO:

Step 1 – Open a Digital Wallet

A digital wallet is where you hold your cryptocurrencies and interacts others via the blockchain technology. There are many providers of digital wallets, however, it is important to make a deep research before you decide which one is the best for you. Currently, the most popular digital wallets provider is Blockchain.info.

Step 2 – Register & Open an Account

Once you enter CEX.IO website, register and open an account that can provide you with their service.

CEX.IO Login
CEX.IO Login

Step 3 – Receive the 2FA Code

This is the authentication code as well as your password when you access CEX.IO.  The code will be generated by an application and will be delivered to you by SMS.

CEX.IO F2A Code
CEX.IO F2A Code

Step 4 – Purchase Bitcoin

Now you can easily purchase Bitcoin and other cryptocurrencies. Note that you can always buy fractions of Bitcoin and CEX.IO allows you to choose fixed amounts with your own currency.

CEX.IO - Buy Bitcoin
CEX.IO – Buy Bitcoin

Choose the payment option that is most convenient for you.

CEX.IO Payment
CEX.IO Payment

In order to complete the purchase, the broker will ask you to verify your identity with documents and various details.

CEX.IO Verification
CEX.IO Verification
CEX.IO Verification
CEX.IO Verification

Trade Bitcoin Through Contract for Difference (CFD’s)

There’s a big difference between buying and holding on to Bitcoins and trading Bitcoins. For many, it is just a case of buying and holding on to Bitcoins in the hope that values will continue to rise.

While Bitcoin buyers will hold on for dear life and possibly sell once there’s some profit in the interest of not losing money, trading Bitcoin is an altogether different thing.

Bitcoin traders will be looking for daily volatility to trade and book profits with a shorter term outlook on Bitcoin prices and the use of technical analysis fundamental news for direction.

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Illustrative prices

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Step 2 – Verify Your Account

In order to activate your account, you must provide the required documentation. Plus500 provides a simple and fast online platform which makes it an instant process. Customers are required to verify their accounts for identification and security purposes in accordance with Plus500 due diligence process.

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Once Plus500* approves your account, you can start trading Bitcoin as well as the most popular cryptos. Bear in mind that Plus500 provides a leverage position and the opportunity to short Bitcoin when Bitcoin prices decline. Currently, you cannot short Bitcoin in any exchange which leaves you with brokers such as Plus500 to make a profit should Bitcoin prices fall.

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Can I Use Regular Money to Buy Bitcoin?

Cash can be used to buy Bitcoin and there are a number of ways to do this. LocalBitcoins is the most popular exchange that allows Bitcoin to be purchased by cash. The Bitcoin trade can be carried out in person or by way of a cash deposit.

LocalBitcoin locates a Bitcoin seller willing to accept cash and requests the prospective buyer to place the order for the number of Bitcoins wanted who then receives the account number of the seller for cash to be deposited. Once the buyer provides proof of the cash deposit, the Bitcoins are then sent to the buyer’s LocalBitcoin wallet.

The alternative to depositing the cash into the seller’s account would be to meet the seller face to face and give the money in person, though as always, it’s important to make sure that buyers remain vigilant. Also, it’s important to be aware of the fraud.

Because LocalBitcoin and similar agents ensure privacy, the price of Bitcoin is between 5-10% higher than the price on exchanges and there is a flat 1% fee for each transaction.

Other companies that look to match cash buyers with Bitcoin sellers include:

BitQuick, Wall of Coins, LibertyX, Bitit and then there are Bitcoin ATMs that also allow cash purchases of Bitcoins.

Do note that buying and selling Bitcoins on LocalBitcoin and the other agents listed above are for smaller transactions. Buying a large number of Bitcoins is more difficult and Bitcoin ATMs will have limits that would require additional information for larger purchases.

Getting a Bitcoin Wallet

When looking to buy Bitcoin, it is strongly recommended that the Bitcoins purchased are not stored on the exchange once purchased and that the Bitcoins are kept in a wallet created by the buyer.

A wallet is essentially the same as a bank account and in very much the same way, allows the owner of the wallet to send, receive and hold Bitcoins

Two common forms of wallet used are software wallets and web / hosted wallets. Software wallets are installed on a computer or mobile, with the owner of the wallet in complete control over the security of the Bitcoins held. Hosted wallets are created on 3rd party websites and are considered much easier to create and use, the only issue is that the host would need to be trusted to ensure that adequate privacy measures are always in place.

For those looking to create a wallet, recommended sites include Coinbase and Blockchain.info.

Face-to-face, or ‘over-the-counter’ (OTC) trades

As we discussed earlier, the two most common ways to buy or sell Bitcoin are either face to face with cash or on an exchange/broker.

Face-to-face transactions are the small investor looking to buy and sell a small number of Bitcoins anonymously. In stark contrast is the OTC market, where particularly large amounts of Bitcoins are bought and sold, the buyers and sellers being referred to as whales within the crypto world.

The benefit of an over-the-counter trade for those looking to buy a substantial number of Bitcoins is that the entire transaction would be carried out at a negotiated price that is likely to be more favorable than an average price for Bitcoins bought through an exchange.

Exchanges will have significantly less liquidity and Bitcoin buyers would need to break down the total number of Bitcoins to buy through smaller lots. The issue here is that each purchase could push the price up and more so if there is a lack of liquidity, by the time the buyer purchases the final batch of Bitcoins, the price may have moved considerably. This is not only likely to be less cost-efficient, but also less time efficient.

The commonality between face to face and over-the-counter transactions is that, in both instances, a counterparty is located for the trade. The difference will be that there is unlikely to be a negotiation on price in a face to face trade, while OTC transactions will involve a negotiation on price.

OTC transactions will be carried out through exchanges and broker/dealers. Dealers will generally trade using their own funds, while brokers link buyers and sellers and negotiate on price for the buyer, whilst charging a fee. Bitcoin exchange OTC trading desks are used for the more sizeable transactions that go into the millions of dollars.


Suggested Articles: How to Buy Bitcoin Cash?


Bitcoin Exchanges

It’s quite important to select the right exchange. Unlike deciding which bank account or credit card to apply for, Bitcoin and the crypto world is unregulated, making it essential to ensure that the exchange chosen is not going to put your money or your Bitcoins at risk.

The location of the exchange is the first consideration. Where the buyer lives and the laws and regulations differ by geography, so it would be recommended to buy Bitcoins on an exchange that is in the same country as the buyer.

Once the list of exchanges has been identified by geography, the next step would be to identify the most competitive and also the most widely used exchanges. Transaction fees vary across the exchanges and some may have additional fees. While looking to find an exchange with competitive fees, it is worth paying a little more to use an exchange that has a sizeable order book.

Exchanges that have a large number of customers will tend to make public their order book, which then shows how liquid the exchange is.

Other factors to consider when deciding on the best exchange include:

  • How well known is the exchange? There are a number of forums on the internet where reviews are available on the exchanges and it is worth doing some due diligence.
  • How long it takes for Bitcoins to be received following a purchase and how quickly funds will be received in event of a sale. On this note, it would also be important to make sure that prices are locked in at the time of purchase or sale and not on the day on which the Bitcoins are received or funds are remitted.
  • Exchange security is of significant importance. For greater security, exchanges selected should be on an HTTPS site and should request secure logins to limit the possibility of being hacked.
  • Finally, obviously knowing how you can buy and sell Bitcoins is of importance and will vary from person to person. Some exchanges will accept payments by wire transfer, credit/debit cards, PayPal and even cash.
  • When considering the method of payment, exchanges may not always carry the currency of the country that the exchange is located in and it is important to gauge how competitive exchange rates and fees are across the exchanges available.

Bitcoin Mining

While the majority are looking to buy and sell Bitcoin to try to make a tidy return on investment, there are those that are looking to enter the world of mining. Mining for Bitcoin is perhaps the most challenging of the mining environments within the cryptoworld, with miners needing significant computer power to be able to compete with existing miners.

Bitcoin mining is the validation of transactions that take place on each Bitcoin block. The decentralized nature of Bitcoin means that transactions are broadcasted to a peer-to-peer network and once broadcasted, needs to be verified, confirming that the transaction is valid and then having the transaction recorded on the public transaction database, which is known as the Bitcoin blockchain.

Miners basically are the people involved in the processing and verifying of transactions before then recording the transactions on the Bitcoin blockchain.

Miners will then receive transaction fees in the form of newly created Bitcoins.

Miners compete with everyone on the peer-to-peer network to earn Bitcoins. The faster the processing power, the more attempts are made by the hardware to attempt to complete the verification, etc., earning the miner the Bitcoins that are highly sought after along with transaction fees.

The speed of processing power in Bitcoin mining is referred to as the hashrate and the processing power is referred to as the hashpower of the hardware.

In the early days, Bitcoin was mined using CPUs, but in the race to generate more income, miners shifted to Graphic Processing Units (GPUs). Then came Field Programmable Gate Array (FPGA) followed by Application Specific Integrated Circuits (ASICs) that are used today.

For miners, the key metric is hashing power and the more hashpower, the more money miners can make. Today’s miners have warehouses of mining equipment, with Bitcoin’s mining community concentrated to a small number who account for the majority of the hashpower.

Because of the concentration of hashpower, not to mention the significant cost to set up a mining network, it’s recommended to join a mining pool, where miners combine computing power or to mine via cloud mining. For those looking to mine using a CPU or laptop, entering a mining pool will be of little value, since the mining income earned is proportional to the computer power contributed. A CPU or laptop just won’t be offering much compared with GPUs and ASICs hardware.

For cloud mining, you won’t feel the mining experience, just the income, though after fees etc., it’s not going to be earth-shattering.

Bitcoin cloud mining does provide a medium in which to receive newly mined Bitcoins, without the need to own costly mining hardware or even have any mining know-how, allowing the mining world to not only attract the technically minded but a far wider audience, who lack the technical knowledge needed to get into Bitcoin mining.

One of the major concerns over cloud mining is fraud, however. There have been plenty of reports of fraudulent activity, not to mention lower profits and even mining companies having the ability to halt operations should Bitcoin’s price fall below certain levels, so some due diligence on a mining company is recommended, with some basic steps to reduce the risk of being defrauded including:

  • No mining address and/or no user selectable pool.
  • No ASIC vendor endorsement. If there are no advertisements from the ASIC vendor, the mining company may not even own the hardware.
  • No photos of the hardware or data center of the mining company.
  • No limit imposed on sales or does not display how much hash rate sold against used in mining.
  • Referral programs and social networking. A mining company willing to pay high referral fees should be avoided as these may well be Ponzi schemes.
  • Anonymous operators should certainly be avoided…
  • No ability to sell your position or get the money out upon sale.

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Bitcoin ATMs

Bitcoin ATMs are not like your traditional bank ATMs that dispense with cash from your bank account. The purpose of Bitcoin ATMs is to facilitate the purchase and sale of Bitcoins on an internet connected machine.

The ATMs allow you to insert cash to purchase Bitcoins or dispense cash in the case of a sale. Unlike the traditional bank ATMs, Bitcoin ATMs are not linked in any way to banking networks and it’s also worth noting that transaction fees can be particularly high.

The world’s first Bitcoin ATM was reported to have been introduced in Vancouver, Canada back in October 2013.

Today, Bitcoin ATMs are located worldwide, with a reported 30 different types of Bitcoin ATMs and as Bitcoin becomes increasingly more popular. ATM providers will likely widen the net to attract the traffic that can generate transaction fees of 7%, before even considering exchange rates that are certainly considered less competitive than high street banks.

Conclusion

It’s a whole new world for many even though Bitcoin has been in existence since 2008. The continued rise in value and talks of $100,000 have brought in a new wave of investors. With the scheduled launch of Bitcoin futures in December and the likely influx of institutional money, there will be more interest and the Bitcoin net will be widening. Whether this is a Bitcoin bubble or something more sustainable remains to be seen, after all, even the dot.com saw a mix of institutional and retail investors get burned. For now, the key to Bitcoin’s growth will be dependent on the Bitcoin world’s ability to educate and facilitate the buying and selling of Bitcoin.

A multitude of new companies has been established that have begun fundraising through the Initial Coin Offering market, with the cryptocurrency world in a hurry to catch up with the more mature, traditional financial markets.

Certain countries have already begun accepting Bitcoin as a means to buy, Japan has been one of the first movers and this is likely to continue to evolve in time.

Cash may be king, but knowledge is wealth. Going into Bitcoin at such levels requires both cash and knowledge, not to mention a resilience to noise and volatility. After all, this is the only asset class that has left investors ruing an early sale when faced with adversity.

Bitcoin Sets Another New Record, Breaks $9,000. Ethereum Soars to New All-Time High

The price of Bitcoin continued its usual volatile movements as it managed to trade near $9,000 as demand for the cryptocurrency remained strong. Bitcoin moved sharply to break $9000, Ethereum followed and trade at $456.

Bitcoin has been on a wild ride in the past two weeks, with price movements that some days exceeded $500. The digital currency set a new record high at $8,354 last Tuesday, before dipping below $8,000 for a brief moment the following day.

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The digital currency maintained a stable trading range yesterday before losing over $200 during early trading hours today. However, the drop did not last for long as the price surged to a new record of $9060 a few hours later.

The gain appears to stem from growing confidence in Bitcoin and higher demand for digital assets. One of Bitcoin’s alternative virtual currencies, Ethereum, reached $456, which marked a new record high. The new record followed a surge of more than 15% over 24 hours.


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One reason behind the powerful surge was Mike Novogratz, a former hedge fund manager who currently uses his wealth as a billionaire to invest in digital currencies. Novogratz, who previously had a bearish stance on Ethereum, signaled during an interview earlier this week that he turned bullish, and now he expects the cryptocurrency to hit new highs of more than $500 before the end of the year. He also predicted that Bitcoin may end 2017 at more than $10,000.

Bitcoin Cash, which is another alternative that was created after a hard fork from the original Bitcoin in August, jumped by more than 25% since yesterday to reach more than $1,600. The catalyst was mainly due to higher demand in South Korea and fresh integration of Bitcoin Cash into the Bitstamp exchange.

Following new records set by Ethereum and Bitcoin Cash surge, the overall market capitalization for digital currencies also posted a new record after rising 4% to more than $255 billion over the past 24 hours.

BTC/USD traded at 8,978.1 on the Bitstamp exchange at 08:40 GMT on Sunday morning, the pair’s highest level since November 21.

ETH/USD was at 456.4, the pair’s highest level in history.

BCH/USD reached 1.669.8, which was a new record high for the pair. BCH/USD began the day at 1.666.4.

This post was originally published by EarnForex

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 24/11/17

Bitcoin Cash – Takes a breather

Bitcoin Cash hit a high $1,777 early this morning, which is the highest level it’s reached since the $2,799 spike on 12th November.

This morning’s rally was attributed to Korean trading, which bounced on the news that South Korean regulators will not be looking to regulate Korean cryptocurrency exchanges and trading practices. The comments come off the back of ECB President Draghi’s comments on Monday, when the Draghi had said that cryptocurrencies were too small to warrant regulatory oversight.

Bitcoin Cash has eased back from this morning’s high, with some profit taking likely to have contributed to the 2.94% fall on the day to $1,610.2 at the time of writing.
In spite of today’s decline, there’s plenty of support for Bitcoin Cash and with more leading cryptocurrency exchanges beginning to offer Bitcoin Cash, volumes are likely to improve further. Following Bitstamp’s announcement of including Bitcoin Cash from next month, Bitwalla also announced that it would allow Bitcoin Cash to be held.

We will expect Bitcoin Cash to make another run at $2,000 in the coming weeks, with this morning’s losses more of a temporary setback.

BCHUSD241117

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Litecoin making its move

Litecoin managed to breakout from its $72 levels overnight, hitting a high of $77.96 before easing back to a $73.31 close. Unlike the other major cryptocurrencies that enjoyed a rally overnight, Litecoin has managed to weather the storm this morning, up 0.72% at $73.83 at the time of writing.

For now sub-$70 levels are a distant memory for Litecoin holders, but to hold off from a slide, Litecoin is going to need to break through the $78 level and make a run beyond $80 to raise the bar on its ranges.

LTCUSD 241117

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Ripple – Range Bound

The world of Ripple seems to be getting larger by the day. News hit the wires of Standard Chartered Bank and Axis Bank launching cross border payment services using Ripple’s blockchain technology.

As we see the list of financial institutions using Ripple tech get longer, we would expect Ripple to receive more interest and move away from its current levels.

For the day, Ripple is down 1.11% to $0.2353, easing back from its latest $0.25 high. We continue to expect Ripple to find strong support at $0.23 levels and look to make another run towards $0.30 in the coming days. A failure to break past $0.26 could see Ripple ease back to $0.22 levels in the days ahead.

XRPUSD 241117

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Bitcoin and Ethereum Price Forecast – Ethereum Gets Some Love, Finally

Bitcoin prices continued to consolidate for another day as the focus of the market turned towards Ethereum over the last 24 hours. This led to a period of correction and consolidation in the bitcoin market which led the prices lower towards the $8000 region before a small bounce due to some strong buying led the prices to move higher into the $8200 region as of this writing. The prices are likely to continue to consolidate over the next 24 hours as well as the market prepares itself for the next leg of the bull run. The next leg could carry the prices into the $8500 region and beyond, as we had mentioned in our forecast yesterday.

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Bitcoin Prices Continue to Consolidate

Just as how the bitcoin market has been looked down by some of those in the financial sector, it has been receiving some strong support from other quarters as well and this has been helping to sustain the high prices of bitcoin. Also, with the launch of futures in bitcoin in the various exchanges only being a matter of time, we are going to see a lot more liquidity and volatility in the bitcoin market which will only help it to mature faster. Also, the introduction of futures is likely to bring in some good two way trading in the bitcoin market which will only help the industry in the long term.

Bitcoin 4H
Bitcoin 4H

The Ethereum market finally found some love as the prices jumped by around 8% over the last 24 hours and now trade just short of their all time highs. We have been saying that the $380 region was likely to be the key for the prices to move higher and it turned out to be true as a breakout through that region led to a quick move higher through the $400 region and it trades above $410 as of this writing and looks strong to break through the all time highs and continue to move higher. It may not be a surprise if the ETH prices end up in the $500-$600 range by the end of the year.

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Forecast

Looking ahead to the rest of the day, the focus would be on the ETH market, for a change, as the traders would wait to see if there is a break through the all time highs and if yes, then we could see the traders buy some more of ETH which will drive the breakout. Bitcoin prices are likely to take a backseat for a day more atleast as the market looks towards the weekend.

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How CME’s Bitcoin Futures Launch can Affect Bitcoin Prices

The world of cryptocurrencies continues to evolve and with it comes news of the launch of Bitcoin futures.

The CME Group announced last month that it will be launching Bitcoin futures based on the CME CF Bitcoin Reference Rate (“BRR”). It is anticipated that the launch date will be on 10th December of this year.

News of the launch, by CME Group, has garnered plenty of attention and has contributed to some particularly hawkish price forecasts for Bitcoin, with the talk of Bitcoin hitting $10,000 before the end of the year doing the rounds.

With the launch of Bitcoin futures, expectations are for a sizeable increase in demand for Bitcoin, with institutional money waiting for CME Group’s launch estimated to be in the tens of billions of Dollars. When considering some of the hedge fund names ready to move into Bitcoin on 10th December, the near-term outlook certainly looks promising.

Will 10,000 be Just Another Number?

Bitcoin has had a spectacular run this year when considering the fact that it was sitting back at sub-$1,000 levels at the end of last year. As new investors continue to enter the cryptomarket, the sizeable returns on offer have yet to leave investors looking for daily or weekly returns. Focus continues to remain on the actual value of Bitcoin itself rather than by how much the cryptocurrency has moved on a given day or week.

In the more traditional financial markets and mature asset classes, attention on value tends to be limited to forecasts rather than the daily or weekly moves. Even with the Dow Jones, talk of breaking through 20,000 had made the headlines in the wake of Donald Trump’s surprise election victory. Once the Dow broke through to 23,000 levels, the focus has returned to the percentage movements rather than the actual value of the index itself.

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We will expect Bitcoin’s value to eventually be treated in a similar manner, but it’s going to take some time. It’s the speculation of how much further Bitcoin has to run that continues to draw in new investors, which has ultimately lead to the CME Group launching Bitcoin futures for institutional investors. Once the exponential gains come to an end and Bitcoin matures as an asset class, the underlying value may well become less meaningful to the vast majority.

There will be the fortunate minority, however, who invested in Bitcoin in the early days and have had the nerve to hold on. To them, $10,000 would be far more than just a number. Investing back in late 2011, you would have been paying under $10 for a Bitcoin, so you can only imagine the feeling of seeing it rally to $10,000 if the projections turn out to be accurate.

Could CME Futures be the Trigger for Bitcoin Crash?

Some will consider the creation of the Bitcoin futures market as a positive for Bitcoin and its medium to long-term outlook. When we look at the behavior of global equity markets today, there are some distinct differences between indexes that are largely comprised of retail investors and those that are more biased towards institutional investors.

Two indexes that spring to mind are the Dow Jones Industrial Average and China’s CSI300. Institutional investors on the Dow make up more than 70%, whilst the CSI300 has seen institutional investors account for around 30%, the rest made up of retail investors.

When looking at China’s CSI300, the lower percentage of institutional investors leaves the index exposed to herd mentality investments that can lead to significantly more wild swings in value. We have seen Bitcoin experience particularly sizeable swings in both directions as a result of investor sentiment and to some degree, the herd mentality of investors that continues to drive Bitcoin to record levels.

Incoming institutional investors by way of the CME Group’s Bitcoin futures will be considered a far more stable investor group, with institutional money considered far stickier than that of retail investors. To put it into perspective, a billion Dollar hedge fund is not going to invest today and sell tomorrow, unless market forces require it to do so, such as Bitcoin’s value falling through stop-loss limits. A 10% fall in Bitcoin could see a sizeable number of retail investors jump ship, however, with retail investors far more sensitive to negative news than the more investment savvy institutional investor who has a longer-term outlook on investments.


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While this will provide some support for Bitcoin over the near-term, as institutional investors that invest in fiat money begins to convert to Bitcoin, it doesn’t mean that the only way will be up for Bitcoin. Institutional investors also have to manage liquidity, just on a far grander scale. A negative outlook towards Bitcoin would see Bitcoin take a far greater hit should the institutional money come pouring out in the future. You can be sure that if institutional investors are pulling out of Bitcoin then retail investors that are still holding won’t be far behind.

Bitcoin’s market cap today is just under $140bn. There is undoubtedly some institutional money already in the game, but with more on its way next month, we will begin to see Bitcoin’s performance to be more akin to a Dow than a CSI. We will have to wait for the initial price rally driven by strong demand from the futures markets to pass, but it will come. When you hear of $100,000 Bitcoin price forecasts, such an outlook will be based on a significant increase in institutional investors. Its early days for Bitcoin and the crypto world, but with institutional investor money parked and waiting outside the Bitcoin door, this is the next step in Bitcoin’s evolution towards a more mature asset class.

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Initial Coin Offering (ICO) – The Wild West of Fundraising

An Initial Coin Offering has become the mainstream way of raising money for a crypto project. It is an event in which a new cryptocurrency project is introduced. Early adopters and enthusiasts are allowed to invest money into the project in exchange for some of the cryptocurrency tokens. The invested money can be used by the project to cover early expenses like developing the product, marketing, legal, etc. ICOs are highly attractive for investors because the potential reward can be multiple times higher as the token’s price increases during the ICO. ICOs have the ability to deliver quick returns. On the other hand, this is a dangerous game. A quick profit can turn into a big loss. There is no guarantee of success. Best advice for investing is: never invest money you can’t afford to lose.

ICO vs. IPO

ICOs can be compared to a less strict form of Initial Public Offerings (IPOs). ICOs allow both large and small investors to pledge any amount they wish. IPOs are more oriented towards professional investors with a bigger budget. Another characteristic of IPOs is the overwhelming amount of legal paperwork to be completed. ICOs are a bit like the wild west of IPO fundraising. It can be a huge struggle to figure out which laws apply to an ICO. However, a shift is happening towards more legally compliant ICOs. An ICO has to apply the legal terms of each country in which it wants to distribute tokens.

ICO Highs and Lows

ICOs are heated within the crypto community. Recently, Tezos gathered a record-breaking amount of $232 million in just over three weeks! Not all stories are so glamorous. The website of the CoinDash ICO got hacked leaving them with a $7 million loss. The hackers altered the deposit address so investors sent money to the malicious address.
Another example of a failure is KICKICO. Attackers were able to trigger a function in the smart contract* responsible for completing the collection of funds which would send $600 million of their tokens to an unknown wallet address. No money was lost, but KICKICO had to create a new token and reassign it to all shareholders, leaving investors with serious trust issues.

* Smart Contract Definition: Smart contracts are self-executing pieces of code with the terms of the agreement written directly into the lines of code. This can be a direct agreement between a buyer and seller, neither of which are necessarily human.


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Guidelines for Investing in ICOs

So how would you pick your ICO investments? One of the most important aspects of an ICO is the team composition. Scrutinize the whole team very carefully, especially the development team because they are accountable for the successful delivery of the end product. Google each member and visit their LinkedIn profile pages. The purpose of screening each member is to find out relevant crypto experience to realize the project. A supportive community is a crucial aspect of a successful ICO. This can be established by providing clear information and using an open management. Weekly or monthly updates are a good start. Investors want to be personally involved with the project they trust their money with. In addition, clear information can be provided through a well-written whitepaper covering all aspects of the ICO. A whitepaper should at least include technical details, a detailed token distribution breakdown, token purpose and usage, and a roadmap. We see it as the silver platter for potential investors. Next, to a whitepaper, evaluate the stage of the project and if there are any VC (venture capital) investments. As trust is key, a project with a working beta version will get more attention. It gives investors the opportunity to take a glance at the product. VCs tend to invest and support projects from the early stages. This kind of information can mostly be found on the main page of the project. Watch out for well-known VCs like Blockchain Capital or Fenbushi (belongs to Ethereum founder Vitalik Buterin).

Next to code, some other useful information can be extracted from a Github page. Github gathers statistics about each project. The “Insights” tab gives you a graph of the activity, measured in code additions (~ commits), and shows you all the contributors with their contribution count. Ultimately, developers can award stars to meaningful projects they admire. The higher amount of stars a project is awarded, the more likely it is that the community likes the project.


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Another important aspect of an ICO is the use of a limited cap, called a hard cap. A limited cap implies that there is a maximum for raising funds. An unlimited cap has no restrictions like the earlier mentioned Tezos ICO which acquired an astonishing $232 million. A hard cap leaves some hype for the secondary market and usually works well for investors. Also, keep in mind that a project needs to raise the amount needed for its development, marketing costs, etc.

The Bottom Line

ICOs are part of the crypto community. It’s even become a mainstream tool for fundraising. It is vital to investigate and read as much information about an ICO before making an investment decision. For us, the most critical element is creating an environment of trust and openness.

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 23/11/17

Bitcoin Cash – On the move

Bitcoin Cash has found a new lease of life today, surging 20.95% to 1571.6.

The good news for Bitcoin Cash was news of Bitsamp deciding to list Bitcoin Cash on its exchange allowing trading with the more commonly traded currencies. The evolution of Bitcoin Cash has been a rapid one and, while there remains plenty of debate over whether the Bitcoin and Bitcoin Cash can co-exist, the very fact that more exchanges are now listing suggests that the debate is over.

With the cryptoworld seeing technological advancements, as companies look to raise funds through initial coin offerings to deliver on more user friendly trading platforms, things could get even better for Bitcoin Cash. The only concern would be the possible downside effects of another Bitcoin hard fork and whether Bitcoin Cash would be able to command its position alongside Bitcoin as Bitcoin’s leading offshoot.


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Bitcoin Cash’s hashrate has converged marginally with that of Bitcoin, supported by the latest price rally, though for now hashrates continue to remain heavily in favour of Bitcoin.

BCHUSD231117

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Litecoin heading south

Litecoin failed to break out beyond $72 levels this morning and has been on the decline in the early part of the day, though with strong support in place at sub-$70 levels, the decline has been relatively minor today, down just 1.62% to $71.14. The issue Litecoin will face is if it continues to sit in its current ranges and fails to make a move. We will expect support to fall away and for Litecoin to fall back to its previous low-$60 ranges in such an event.

The good news for Litecoin is sentiment towards its product and also current valuations that makes the cryptocurrency more accessible to want to be investors.

Trading platforms are on the rise and as financial institutions look to get on the band wagon, demand for the mainstream cryptocurrencies such as Litecoin is likely to be on the rise.

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Ripple – Range Bound

Ripple grabbed more headlines in the last day, with news hitting the wires of the UAE’s RAK Bank looking to ripple’s blockchain technology for its cross border payments to India’s Axis Bank. Despite the good news, Ripple has failed to break beyond $0.24 levels since its 16th November rally.

The lack of momentum suggests that further declines are likely through the day, though Ripple’s unlikely to fall to sub-$0.22 levels with Ripple’s blockchain technology continuing to grab the headlines.

At the time of writing, Ripple was down 0.75% At $0.2371

XRPUSD 231117

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Bitcoin Gasping Above $8,200, More Volume Needed

Bitcoin has finally broken above $8,000, and the rather expedient run-up took less than 3 days to complete once it started up from the $7,431.12 November 18 daily low. Hourly volume has been slowly increasing in the meantime, and popular opinion seems to point toward a $10,000 appraisement in the coming weeks, in anticipation of the CME futures launch on December 10.

Needless to say, if we disregard social media and the official mainstream narrative while focusing on the most prominent altcoins, then the expedient migrations of crypto capital are starting to become fairly obvious, especially on many of the larger exchanges. Bitcoin cash, Ethereum, nxt, dash, litecoin, and ripple are generating the most noticeable daily volume on USD, USDT, and BTC trading pairs respectively. Even so and despite occasional altcoin flash pumps (which have started to become noticeably shorter in duration with every passing week), bitcoin has kept strong.

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With supports abound, yesterday’s $8,087.99 daily high was first in line, and was the only support above the crucial psychological $8,000 price level, until it unfortunately shattered. The now remaining secondary supports are predetermined at $7,997.61, $7,886.40, $7,590.09, $7,570.17, $7,499.82, $7,353.51, $6,991.37, $6,956.42, $6,776.88, $6,314.14, $6,025.93, $5,872.75, $5,754.5, $5,645.18, $5,591.17, and at $5,407.07. Primary supports are more interesting though and stand out at $7,771.79, $7,429.58, $6,922.58, $5,591.17, and at the $5,366 monthly low.

Our primary resistance levels are the $8,226 former and $8,380.46 current all-time highs. We will need to use Fibonacci extensions in order to accurately chart out possible targets. These fib levels are calculated from the $5,366 monthly low and starting forming at $8,900.96 (fib 1.236), $9,318.52 (fib 1.382), $9,656 (fib 1.5), $9,993.48 (fib 1.86), $11,086 (fib 2.0), $12,178.52 (fib 2.382), $12,853.48 (fib 2.618), and at $13,946 (fib 3.0). All can serve as potential price objectives moving forward, irrelevant of how unlikely they might seem at this point in time. There is an overlap of the $5,872.75 support and 0.236 fib ($5,861.53) retracement, in addition to the $6,314.14 support which is in close proximity to the 0.382 fib ($6,337.31).

The 30-day MA is practically unstoppable, and apart from the bullish crossover of the 180-day MA over the 365-day MA (which took place almost 2 days beforehand), all three MAs are skyrocketing forward and also maintaining reasonable distances from one another. The EMA is, on the other hand, behaving in tune with the prevailing but matching volume. At the same time, the VWMA is contrasting this momentum and is doubtlessly soaring ever closer to the 30-day MA.

RSI is inconclusive and is neither exhibiting overbought nor oversold conditions. The %R Williams is leaning toward being oversold, while OBV is trending higher and is not showing any signs of momentarily slowing down. The MACD is see-sawing above and below the signal line, but the numerous crossovers, are proving to be very accurate predictors of approaching short-term price movement.

The drive to the $8,380.46 all-time high began almost a week ago, from the $6,466.88 weekly low (GMT 12:00). What followed was a one direction lead-in toward the $7,988 previous all-time high, which was touched briefly on November 17 (GMT 01:00), and almost again later during the same day at $7,985 (GMT 17:00). The ensuing 48 hours were chiefly characterized by sideways trading, until the next all-time high was reached at $8,083.5 on November 19 (GMT 12:00). The second all-time high manifested at $8,266.99 on November 20 (GMT 17:00), and the newest all-time high was a day after that at $8,380.46 (GMT 15:00).

This post was originally published by EarnForex

The Best and Safest Way to Buy and Sell Bitcoins

For those who are looking to take advantage of Bitcoin and other cryptocurrencies price fluctuations, some brokers provide traders with instant access to trade Bitcoin, Bitcoin Cash, Ethereum and other cryptocurrencies. The process is fast and easy with convenient and advanced trading platform (desktop and mobile), low spreads and instant execution. Click here for more details.

CRYPTO20 – The First Tokenized and Autonomous Crypto Index Fund

The cryptocurrency revolution continues and as market caps continue to rise, the big question for investors is into which cryptocurrency they should invest.

In the equity markets, there are a plethora of index funds that provide investors with a blended return across sectors and geographies, whilst also offering exposure to the major indexes across the global financial market footprint. The index business that has been developed over the years by the likes of the MSCI and Standard and Poor’s has been a lucrative one. So it is with little surprise that the cryptoworld is exploring successful offerings from the mature financial markets in order to deliver cryptocurrency investors with similar investment solutions. The advancements indicate that the cryptoworld is in a big hurry to catch up and, with the benefit of hindsight, has a best practices platform from the financial markets to springboard from.

CRYPTO20 fills the gap in the cryptomarkets. CRYPTO20 is a crypto index fund that will use ICO funding to buy the underlying crypto assets. As a first mover, there is no better time to deliver an index fund when considering the number of cryptocurrencies that have entered the market.

There are now thousands of cryptocurrencies for investors to choose from. The headline grabbers continue to be Bitcoin, Litecoin, and Ripple, but there are others.

C20 gives the investor an opportunity to access the cryptoworld, without having to work out which cryptocurrency is good for today, tomorrow and further down the road.

Following the recent record-breaking runs across the major indexes in the U.S, there’s been plenty of debate over whether to go for an actively managed fund or passive index trackers, which have significantly lower fees, whilst on many occasions deliver better returns net of fees to the investor.

C20 makes perfect sense to those that are cryptocurrency agnostic and just want to be in on the action on the hope that this new asset class is more than just a bubble. As one would expect, C20 also provides the necessary trading platforms and analysis for investors and prospective investors via its fund investor platform.

The good news for those looking to get in on the action is the fact that there will be no broker fees, no exit fees, no minimum investment while providing investors with full control over their assets. It comes as no surprise that blockchain technology will be the added bonus for investors, blockchain giving investors full transparency.

With cryptocurrencies traded 24/7, C20 tokens will also be tradable 24 hours a day and with annual fees of just 0.5% per annum, they are significantly less than traditional actively managed funds that invest in the more nascent asset classes.

If the fees are not enough of an enticement, it’s worth noting that C20 tokens are directly tied to the underlying assets with a unique liquidation option in the smart contract, which protects the asset price. This ultimately ensures that the asset price will never fall below the token’s share of the underlying asset.

C20 is registered as an LLC in the Cayman Islands, a common domicile for investment vehicles and is expected to flatten the volatility seen across the cryptocurrencies with the benefit of a blended portfolio.

We can officially announce that CRYPTO20 has successfully completed the first rebalancing procedure weeks ahead of schedule. This includes a website update so that you can track the fund value and composition in real-time. CRYPTO20 is fully operational and hold the top 20 cryptocurrency assets by market cap, weighted by our data-science optimized hyperparameters.