Bitcoin Cash, Litecoin and Ripple Daily Analysis – 16/01/18

Bitcoin Cash in the Red with the Pack

Bitcoin Cash failed to make a move on Monday and has ultimately paid the price, with Bitcoin Cash down 5.82% to $2,246.1 at the time of writing, sitting well below a weekend high $2,884.

Sentiment across the cryptomarkets has turned sour and investors will be doing well to find a cryptocurrency that has managed to make any positive moves in the early part of the day.

An air of negativity remains, following last week’s decision by the South Korean government, with uncertainty over Bitcoin miners also a factor to consider, as more negative news hits the cryptowires.

News of hacking, money laundering and price manipulation over the last 24 hours have certainly not helped and with it will likely bring speculation and chatter from governments and regulators of a need for greater oversight.

Investors have clearly taken a more cautious approach and perhaps rightly so, with any announcement of a clamp down by governments and regulators likely to come without warning.

The trend is certainly looking bearish and with the general market on the slide, there’s unlikely to be much incentive for investors to take advantage of current values.

We will expect some support at sub-$2,000 levels, though whether Bitcoin Cash can hold will largely depend on what’s hitting the news wires through the day.

If the Bitcoin futures are anything to go by, today’s intraday low $2,148.3 will likely be revisited.

BCH/USD 16/01/18 Hourly Chart

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Litecoin in the Red with Nowhere to Go

Litecoin has had a better start to the day than most, down 2.97% to $225.6 at the time of writing.

While the gains may have been less severe than the likes of Bitcoin Cash and Ripple, the lack of direction has seen Litecoin fall from a weekend high that was well below its all time high, with Litecoin having struggled since hitting $300 levels in the 1st week.

Investors appear to have shied away from the blockchain tech on offer by the respective cryptocurrencies, with the declines coming more from the negative sentiment towards the cryptocurrencies than the likely success and failures of the respective platforms.

There has been a continued worry that investors have simply looked to hold on to cryptocurrencies for gains and the case is strengthening by the day.

We will expect Litecoin to find support at sub-$220 levels and, with the general trend bearish, will do well to recover to $230 levels later in the day.

LTC/USD 16/01/18 Hourly Chart

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Ripple Makes the wrong Waves

A bad start to the week got worse for Ripple investors, with the late Monday tumble to a $1.65544 close doing little to draw in bargain hunters.

At the time of writing, Ripple was down a further 4.8% to $1.5762 and, while it’s been sideways since, with Ripple recovering from an intraday low $1.41646, the negative sentiment surrounding the cryptocurrencies are unlikely to be of much help.

Ripple’s blockchain tech continues to be well received by the financial sector, but with investors having speculated on Ripple as an investment that had delivered exceptional returns in December and early January, questions will be asked on whether Ripple can make a run at the all-time high hit at the start of the year.

We would expect Ripple to have a better 2nd half of a day, but a move beyond $1.7 levels will be needed for Ripple to move back to $2.00 levels and it’s certainly looking unlikely at the time of writing.

XRP/USD 16/01/18 Hourly Chart

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 15/01/18

Bitcoin Cash Holding Steady Early On

The weekend Bitcoin rally came and went, with the lack of pressure from the futures market seeming to favour the Bitcoin clan over recent weekends.

Bitcoin Cash rallied to a weekend high $2,884 on Saturday before the sell-off ensued ahead of Monday’s open. At the time of writing, Bitcoin Cash is down just 0.58% to $2,505.5, with yet another attempt by Bitcoin Cash to break through to $3,000 for the first time since late December thwarted.

Following last week’s regulatory risk debacle, the markets look to still be licking their wounds and there is good cause to take a more cautious start to the week, with the chatter over the anonymity of the cryptomarkets beginning to build.

While Bitcoin Cash was in the red at the time of writing, the outlook for the day looks relatively positive, supported by Bitcoin’s minor gains in the early part of the day. How the futures markets behave will have an influence however, with Bitcoin Cash yet to deliver a killer blow to Bitcoin and take over the hashrates.

BCH/USD 15/01/2018 Hourly Chart

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Litecoin Rally Comes to an End

The markets seemed to have little interest to the negative news at the end of last week of Litecoin founder’s insider trading, with Litecoin rallying to a weekend high $268 in the early hours of Sunday morning.

The gains were short lived as was the case across many of the major cryptocurrencies, with Litecoin pulling back to $240.06 by the end of the weekend.

It’s been a pretty non-eventful start to the week, with Litecoin up just 0.13% to $238.19. For those looking for a move to the much talked about $400 levels, it’s looking slightly ominous, with interest in Litecoin having eased in recent weeks.

A failure to move back to $300 levels, since the first week of the year’s high, will be an issue and as the ICO market heats, Litecoin could find itself being left behind, particularly as new players enter the market.

While we will expect strong support at $235 levels, a move through $245 is needed for Litecoin to have a run at its weekend high and a possible move to $300 levels.

Today just may not be the day for it.

LTC/USD 15/01/2018 Hourly Chart

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Ripple on the Move

Ripple failed to enjoy the weekend gains seen across the Bitcoin clan and Litecoin over the weekend, with Ripple giving up highs coming off the back of the late Thursday, early Friday relief rally.

It’s been a better start to the week for Ripple however, with a gain of 2.55% to $1.8617 at the time of writing.

In spite of the gains, Ripple has struggled however and there’s a long way to go for Ripple to be able to recapture the number 2-spot, with Ethereum likely to get plenty of support with the ICO market getting ready for some major initial coin offerings, including Telegram’s planned $1.2bn fund raiser.

A break through to $1.90 levels should see Ripple move back to $1.20 levels, with Ripple likely to find plenty of support at sub-$1.80.

XRP/USD 15/01/2018 Hourly Chart

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South Korea U-Turn – The Cryptocurrency Winners

Following news hitting the cryptocurrency markets on Thursday morning of the South Korean government looking to ban cryptocurrency trading and shut down the exchanges, the cryptomarket went into sell-off mode.

The market response was somewhat surprising when considering the implications, South Korean cryptocurrency holders needing to sell their coins in a worse-case scenario or at best, deal with the uncertainty of a possible clamp down on being able to trade on exchanges beyond South Korea’s borders a major issue.

Bitcoin slumped to a low of $12,000 in the early part of the day on Thursday, which was not far off Thursday’s $13,057.48 close.

There’s likely to be some debate over the government’s handling of the situation, with the government distancing itself from the Ministry of Justice that had released the statement on introducing legislation to bring to an end cryptocurrency trading.

Interestingly, there had been reports of a petition being signed calling for the resignation of the head of the Ministry of Justice in response to its statement. Whether the Ministry of Strategy and Finance flinched at the prospect of voter backlash will never be known, but one thing comes to light from the events of yesterday and this morning.

While governments and central banks will have some influence on the availability and performance of cryptocurrencies, voters will certainly make their voice heard. South Koreans have been known to hit the streets in protest and a backlash over such a ban would have certainly been an embarrassing one for the government, particularly when considering the size of the cryptomarkets today.

Through early part of the day today, the recovery has not been as spectacular for Bitcoin as for some of the other cryptocurrencies on offer. The less than impressive gains this morning will likely be down to two key reasons:

  • Bitcoin trading volumes are less concentrated than other cryptocurrencies, with the threat of a South Korean ban on trading and the shutting down of exchanges in South Korea having less of an impact on Bitcoin demand and therefore price.
  • Investors will have gone elsewhere in the early part of today in search of the more sensitive cryptocurrencies, which would have been a simple task. The cryptocurrencies that tanked the most on the South Korean news would have also most likely seen the biggest upside in the event of a U-turn, which would have also eased appetite for Bitcoin and the Bitcoin clan.

Bitcoin has gained just 3.32% to $13,683.1 at the time of writing and, as has been the case since mid-December, the Futures market may well be to blame, with the January Cboe Bitcoin futures contract rising by just $360 to $13,680 at the time of writing.

It will be interesting to see how Bitcoin moves through the weekend, once the futures markets are closed, with Bitcoin currently sitting well below the start of the week $16,300 high.

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So, looking through the cryptomarket this morning, there have been some impressive returns for investors dipping their toes back into the market.

At the top end of the market cap table, Ripple has rallied 6.86% to 2.066 at the time of writing, recovering from a Thursday $1.514 low.

Going down the table, Stellar’s Lumen has been far more impressive, surging 21.6% through the early part of the day, with NXT and Binance’s BNB also impressing, with gains of 13.6% and 10.51% respectively.

While there have been some impressive gains, particularly amongst the more recently launched coins, a little more damage has been done to the cryptomarket and its image, with the fact that governments and central banks are able to have such an influence on the broader market being of particular concern.

Time will tell whether Bitcoin investors will regain the confidence to drive Bitcoin back towards $20,000, with the recent trends certainly suggesting that forecasts of $40,000 by the end of the year may have been a little too optimistic.

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 12/01/18

Bitcoin Cash Breathes a Sigh of Relief

A particularly testing last 24 hours ended in relief, with the South Korean government bringing to an end the speculation through Thursday of a likely banning of cryptocurrency trading and closure of South Korea’s cryptocurrency exchanges.

In spite of the clarification given by the South Korean government, Bitcoin Cash saw relatively minor gains in the early part of the day and well below Thursday’s pre-South Korean tumble levels, which suggests that there is likely to be more upside through the weekend, once the futures markets are closed…

At the time of writing, Bitcoin Cash was up 3.42% to $2,515.2

With Bitcoin futures January contract gaining just $230 to $13,550, the Bitcoin clan has been pinned back, with Bitcoin up just 1.55% to $13.449.29.

The smart money is likely to be a little wary, following yesterday’s events in South Korea, with the regulatory issue now a major concern for investors in general. The dust will certainly need to settle before investors regain confidence in the market.

For the rest of the day, Bitcoin Cash will need to break through to $2,700 levels to make a run at $3,000 through the weekend, with strong support at $2,300 levels, which was tested on Thursday.

BCH/USD 12/01/2018 Hourly Chart

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Litecoin Languishes

Litecoin was left languishing not far off its 2018 lows, with the relief rally providing little to support through the early part of the day, in what should have been a far better start to the day.

At the time of writing, Litecoin was up 2.33% to $232.18, sitting well below Thursday’s opening $248.82, though the trend does look bullish with more gains likely to be on the cards through the middle part of the day.

Having recovered from an intraday low $220.2, Litecoin will need to break through to $240 levels to make a run towards the start of the week’s $270 levels, though when considering the downward trend through the week, there’s likely to be plenty of resistance at $240.

Recent news of Litecoin Founder Charlie Lee being accused of insider trading on Coinbase will certainly not help Litecoin’s cause. After all, where there is smoke there is fire.

LTC/USD 12/01/2018 Hourly Chart

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Ripple managed to recover to $2.00 levels this morning, following a choppy Thursday that saw Ripple hit an intraday high 2.29696 before coming back down to earth, with the negative sentiment towards the cryptomarkets hitting the majors.

At the time of writing, Ripple is up 3.91% to $2.005, easing back from an intraday high $2.1867.

With news hitting the wires of MoneyGram looking to use Ripple for money transfers, there’s even more evidence that Ripple’s technology is here to stay. For investors looking to own a piece of an ever growing pie, Ripple’s XRP is perhaps less of a speculative investment than some of the others that have yet to hit market.

Sitting well below its record highs, it’s a long road to recovery for Ripple, but with the South Korean government having cleared the uncertainty behind the future of the exchanges, Ripple’s greater acceptance across the exchanges will be key to Ripple regaining 2nd place and having a run at the top spot.

XRP/USD 12/01/2018 Hourly Chart

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Eastman Kodak Gets in the Crypto Game, Ripple Lost 50% of its Value Last Week

Eastman Kodak Company has received plenty of attention since its announcement regarding its planned launch of KodakCoin. Ripple XRP has lost nearly 50% in value last week.

Eastman Kodak Surges on Announcement, KodakCoin Sparks Interest

Eastman Kodak has continued to enjoy a surge in its share price. Kodak which has been a company for nearly 130 years has seen its value double since it has announced that it will issue a KodakCoin token in order to allow its clients to purchase its products. The value of Eastman Kodak was around 5.00 U.S per share before the announcement a few days ago, and it is now trading above 10.00 a share on the New York Stock Exchange.

Ripple in a Slugfest, Ripple Loses Fifty Percent Drop in Value Past Week

The price of Ripple remains under stress, after making a huge gain in December. The cryptocurrency which is listed as XRP has lost nearly 50% in value in one week’s time. Ripple is one of the top five cryptocurrencies in market value. Its core technology allows companies to make international transactions in an easier fashion. However, some analysts point out that the Ripple coin doesn’t have to be used in all of these transactions, which they claim could limit its overall appeal to traders. Ripple is around 1.76 U.S Dollars per coin today.

Ripple 4H Chart
Ripple 4H Chart

South Korea Clampdown Intensifies

The South Korean government this morning continued to come down hard on some aspects of cryptocurrency. The nation is said to be considering a ban on cryptocurrency exchanges until it can create an effective tax regulation policy.

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South Korea Sinks the Cryptomarket

It’s been a rough ride for the cryptocurrencies at the turn of the year and it looks like it’s going to get a little tougher before there is any improvement in market conditions.

The major cryptocurrencies have seen heavy selling pressure through the morning and it’s all been down to the South Korean government, which has continued to plague the cryptocurrencies since the end of last year.

Going back to the rallies across the cryptocurrencies in December, much of the gains were attributed to the increased trading activity in South Korea. Both Ripple and Litecoin were beneficiaries, with the pair managing to break through to record high levels through much of the 2nd half of December.

Things have shifted at the turn of the year however and it’s come down to regulatory risk. If investors were of the view that the cryptomarkets were free and clear of government and central bank oversight, they have been clearly mistaken and, while certain governments have been embracing, others have not.

The market is in its infancy and there is no common ground amongst the G7 or G20 on how to handle cryptocurrencies, so it’s each to their own and the South Korean government is certainly not aligned with the Japanese government, when it comes to Asia.

Concerns over cyber-theft may well be the government’s motivation, with frequent reports of the North Korean government steeling cryptocurrencies a major concern, as the North looks to build its nuclear capabilities and ruffle the feathers of the South and the West.

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Looking at current valuations, there will be a temptation for investors to jump in and take advantage of the recent declines, with Bitcoin down at sub-$14,000 and Ripple sitting at $1.6476. The argument could be that if things were really that bad then Ethereum would have also followed up with a sizeable loss. The difference here is that Ethereum’s gains didn’t come in mid to late December, of the back of rising demand from South Korea. Ethereum’s gains came in spite of the initial reports of the South Korean government looking to clamp down on the cryptomarkets, which makes Ethereum less sensitive to the news.

How the cryptos will fare through the remainder of the day remains to be seen, but with Cboe Bitcoin futures down at $13,740 for January expiry and with Bitcoin currently down 7.09% to $13,835, there’s not much wriggle room for the crypto and the other majors to look to move ahead on.

We are unlikely to get any comments from the South Korean government that could shift sentiment through the rest of the day, with the raiding of exchanges and investigations into South Korean banks, not to mention the Justice Department’s intentions to introduce legislation to ban the trading of cryptocurrencies all quite dire for the markets.

Unless there is a U-turn, things are likely to go from bad to worse until the exchanges find a way to circumvent the system and provide the platforms in other jurisdictions, away from the purview of the South Korean government.

It’s testing times and investors will be hoping that the anti-cryptocurrency movement does not spread to other major crypto-centres. While there is no news of such a scenario, as we have seen with the South Korean government, the decision can be spontaneous and that’s never good for a market.

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 11/01/18

Bitcoin Cash on the Slide

It’s a bad day for the Bitcoin Clan, with Bitcoin Cash down 12.74% to $2,494.9 at the time of writing, with Bitcoin and Bitcoin Gold having as bad a day with losses of 0.90% and 11.78% respectively.

Bitcoin Cash had seen a start of the day high of $2,950.7 as it looked to make a move back to $3,000 levels only to be thwarted by news hitting the wires of the South Korean government acting on its threats against the cryptocurrency exchanges, with Bithumb and Coinone having been raided by tax officials and the police.

To make matters worse, there was also news that the South Korean Justice Department was preparing to roll out legislation that would ultimately end in the closing down of South Korea’s cryptocurrency exchanges.

With regulators already investigating South Korean banks and their KYC and anti-money laundering policies, the banks linked to the cryptomarkets, it’s getting hot under the collar for the exchanges and the government is looking to just throw cold water of the country’s insatiable appetite for the cryptos.

The news wires will be the key driver through the day, though we will expect some of the market panic to subside, with Bitcoin Cash likely to find plenty of support at sub-$2,400 levels.

BCH/USD 11/01/2018 Hourly Chart

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Litecoin doing better than most

At the time of writing, Litecoin was down 6.6% to $232.4, with this morning’s decline far less material than its peers, with most of the cryptos seeing double digit declines in the early part of the day.

Regulatory risk has been the key driver at the turn of the year and the threats from the South Korean government have become something more real, as the country’s largest exchanges get raided.

The declines are yet to reflect an outright ban on cryptocurrency trading however, with most of December’s gains that saw Litecoin move from sub-$100 levels to today’s ranges largely attributed to a surge in South Korean appetite for the cryptocurrencies.

Litecoin will need to hold on to $230 levels to avoid the risk of falling back to sub-$200 levels, which haven’t been seen since a pre-Christmas sell-off.

It’s looking bearish, the only question being how much Litecoin is going to cough up before the close.

LTC/USD 11/01/2018 Hourly Chart

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Ripple Down and Almost Out

Things couldn’t get much worse for the Ripple team, with Ripple down another whopping 15.45% to $1.64863 at the time of writing.

Having grabbed the headlines for all the right reasons in late December, it’s for all the wrong reasons this week and Ripple may well become a cautionary tale to those looking to ride the cryptocurrency wave.

It’s been a double whammy for Ripple. Not only is there downward pressure on the markets, following news of the South Korean government looking to shut out cryptocurrency trading, but there’s also the Coinbase announcement that has crippled Ripple going into the New Year.

Perhaps there had been hopes of Coinbase including Ripple over the near-term, but with the recent slide and fall from grace, there will be less pressure on its inclusion, at least until the South Korean dust settles.

Ripple will need to hold on to $1.6 levels to avoid falling through to sub-$1.4 levels, with the only cryptocurrency seemingly able to handle the current pressure being Ethereum that is down just 0.56% to $1,240 at the time of writing.

One thing is for certain, Ripple is not the cryptocurrency safe haven and pressure will likely remain through the day, with any recovery from today’s tumble hinged on the new wires.

XRP/USD 11/01/2018 Hourly Chart

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Is that the end of the Great Ripple?

Following all the crypto-hype of December, things have certainly turned and the cryptomarkets are getting hammered through the early part of January, with the current week declines being particularly telling of market sentiment towards the cryptocurrencies.

We’ve heard all the news and seen the impact that governments can have on cryptocurrencies, with each country owning the power to shut down exchanges, ban initial coin offerings and more. Does that make cryptocurrencies a flawed concept, with the entire ethos of Satoshi Nakamoto having been to take the power away from the governments and central banks?

On the face of it, there is a strong argument that the cryptos have been marred by recent government interventions, but the reality remains that the fundamental concept remains intact. There’s no printing of cryptos and rewards for cryptocurrency holders that come from the verification process continues to remain independent and out of the hands of a single authority.

Ethos intact, but governments in power. That has been the downfall of the cryptocurrencies this week, with Cboe Bitcoin futures falling by $480 to $14,310 for January’s maturity, by $550 to $14,260 for the February contract and by $570 to $14,300 for the March contract.

The smart money has certainly responded to the regulatory risk noise that even the less savvy investor knows is bad news for the cryptos. The fact that Bitcoin futures are sitting well above Bitcoin’s current value of $13,700 is perhaps more worrisome. The futures market has managed to pin back the likes of Bitcoin from any late 2017 rally that had been enjoyed by many of the other cryptocurrencies, but is providing little comfort as investors shun the futures contracts as a pricing guide, looking to preserve capital and 2017 gains instead.

It’s not looking particularly bright for Bitcoin and the rest of the majors through the remainder of the day and, while the futures contracts have some buffer for Bitcoin to move northwards, it’s more likely that Bitcoin futures will be taking its cues from Bitcoin today.

While Ethereum has taken the limelight this week, even the world’s 2nd largest cryptocurrency by market share is fallible, with Ethereum having pulled back from today’s intraday high $1,386.99 to $1,271.25 at the time of writing.

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For the day ahead, it’s going to be a tough one for the cryptomarket and one doesn’t have to go too far back to recall the last time that Bitcoin was under the hammer and talks had built of a possible end to the Bitcoin dream.

We will expect the Bitcoin futures contracts to catch up to the negative sentiment towards the cryptos, which should see Bitcoin futures fall to Bitcoin’s current values, though whether Bitcoin can steady this afternoon remains to be seen.

Investors will be looking to work out re-entry prices and for some, entry prices though, with the speed of today’s declines, when to enter the markets will be a hot topic in key markets.

Ripple at $1.64 and Bitcoin at sub-$14,000 sound like bargains, but buying on the dip would certainly not be recommended today.

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 10/01/18

Bitcoin Cash Holds On

While Big Brother and Bitcoin Gold struggle through the early part of the day, it’s not been a bad morning for Bitcoin Cash, rising 2.17% to $2,421.8 and seemingly unaffected by the declines in the Bitcoin futures market today.

A lack of government and regulator chatter this morning has eased some of the angst felt within the cryptomarkets, though the risk continues to linger, with Bitcoin Cash and the rest continuing to be sensitised to it.

While Bitcoin Cash has been on the rise this morning, it’s looking a little bearish with $2,300 support levels likely to be tested. For a continued rally, Bitcoin Cash will need to move beyond $2,500 levels to have any hope of a move back towards $3,000.

We will expect uncertainty to continue to hamper the markets, with any material upside in Bitcoin Cash likely to be on hold for now.

BCH/USD 10/01/18 Hourly Chart

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Litecoin on the Back Foot

Things may not be a complete disaster for Litecoin in the latest sell-off that has gone through a number of days now. At the time of writing, Litecoin is down 1.67% to $242.76, with the declines smaller than its peers.

Negative sentiment towards the cryptos has seen Litecoin on a downward trajectory since last weekend and, while this morning’s decline is relatively small by cryptocurrency standards, things could go from bad to worse if sentiment doesn’t change soon.

After hitting sub-$240 levels on Tuesday, we will see Litecoin test $240 support levels, with a move through to $250 needed to bring an end to the current downshift.

LTC/USD 10/01/2018 Hourly Chart

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Ripple Tanks in Battle with Ethereum

What a difference a week makes and the much hyped story on Ripple has turned sour this week.

At the time of writing, Ripple is down a whopping 15.28% to $1.71429 and support levels have just been falling away since the 2nd half of the weekend.

Ethereum has overtaken Ripple in the number 2 spot and it’s been a meteoric rise and fall in the last few weeks for Ripple, with the moves almost entirely attributed to the fact that Coinbase had announced that it would not be including Ripple on its exchange, with the markets having been convinced of an inclusion late in 2017.

Investors have clearly rotated out of Ripple in favour of Ethereum that not only has been supported by the world’s largest exchanges, but also in initial coin offering market.

With Ripple having fallen to an intraday low $1.67, support levels are likely to kick in at $1.70 levels, though as we have seen throughout the week, the cryptocurrency rotation has been unkind to Ripple and if things don’t change quickly, Ripple could begin to make a move towards sub-$1.50 levels.

It’s too early to begin talk of Ripple being priced at sub-$1 levels, but should a pull up to $1.8 levels fail, those looking to get in on a dip and pop will likely hold off for a little while longer.

XRP/USD 10/01/2018 Hourly Chart

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Ethereum Leads the Way in the Face of South Korean Adversity

It was a tough start to the week for Bitcoin, which stumbled from a weekend high $17,234.99 to an intraday low $13,900 before recovering to close the day at 15,179.68 on Monday.

We’ve talked about regulatory risk being the key driver for the markets, following the impact of South Korean government chatter on the cryptocurrencies late last year.

Monday was no different and the effects were certainly evident, with losses seen across the board, with one exception, Ethereum that has appeared to shift a gear through the first week of the year and manage to hold on to $1,000 levels whilst those around sit well below record highs.

At the time of writing, Ethereum was up 6.41% to $1,209.92, with the doom and gloom of yesterday’s news seemingly having little long-term effect on appetite for a currency that had given up the number 2 spot, albeit for a very short period of time.

Perhaps good news for investors this morning has been a bounce back by the Bitcoin clan, with Bitcoin up 1.37% to $15,204.98 at the time of writing, recovering from an intraday low $14,816.87 hit earlier in the day.

We will expect Bitcoin to be the market’s litmus test for risk appetite this week as investors grapple with the South Korean government’s chatter on regulation, with the markets likely to have been a little too sensitive to the comments.

Even for cryptocurrencies where South Korean investors account for the largest trading volumes, such as Zcash, there has been on the bounce this morning, which supports the view that the currencies may have been oversold on Monday.

Volatility is certainly significantly greater than the more traditional asset classes and with it, the bad news swings continue to be more significant.

Monday’s declines looks to have provided investor opportunity rather than deliver a more significant blow to the markets, though it remains too early to say what the eventual outcome of all of the increased oversight will be and what effect they will have on overall volumes.

Barring any further negative chatter, the currencies are likely to remain in recovery mode, while Ethereum rallies in what has been an impressive response to Ripple’s challenge.

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This morning’s Bitcoin recovery that has provided much needed support to the broader market, comes off the back of a rebound in the futures market.

The Cboe futures contract for January had hit an intraday low of $14,560, before recovering to $15,040 at the time of writing. In contrast to the January contract gains through the early part of the day, both February and March expiries on the Cboe futures exchange were in the red at the time of writing, with February’s contract down $70 to $14,900.

The ranges are particularly narrow in spite of the degree of uncertainty that has pressured the cryptomarkets this week and that should be considered a positive.

Whether Bitcoin can find its legs through the remainder of the day remains to be seen, but one thing looks certain and that is Ethereum staying on the front foot, as it continues to fight off the competition and defy gravity.

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 09/01/18

Bitcoin Cash Lost

The cryptomarkets took another hit on Monday, following the fall through the weekend peaks, with Bitcoin cash hitting an intraday low $2,192.6 before recovering to $2,419.2 by the close.

It’s been a choppy start to the day this morning, with Bitcoin Cash down just 0.69% to 2379.5 at the time of writing, with Bitcoin Cash easing back from an intraday high $2,472.5.

South Korea was the driving force behind the December rallies see across many of the cryptocurrencies and looks to be the key contributor to the start of the year woes across the market, that has seen Bitcoin pegged back to low-$15,000 levels.

While focus had been on the battle of the coins, it’s now the coins against the regulators and the South Korean government is looking to ramp up regulations, with news of North Korean malware being used to attain coins adding to the negative sentiment towards the South Korean government’s intended regulator moves.

With so much uncertainty in the air, it’s going to be another tough day for Bitcoin Cash, which will continue to find support at $2,300 levels, though resistance at $2,475 will be high through the day, assuming that the South Korean doesn’t back down on its regulator intentions.

BCH/USD 09/01/18 Hourly Chart

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Litecoin Feeling the Heat

It’s been downhill all the way for Litecoin since Saturday’s rally, with Litecoin down 1.41% to $251.62 at the time of writing.

The major cryptocurrencies are most at risk from the news of the South Korean government’s intentions to impose stringent KYC and money laundering regulations and ensure that the nation’s banks are also following policy.

With the likes of Bitcoin also struggling, Litecoin is unlikely to shine through the current negative sentiment, which will likely keep Litecoin under pressure through the day.

The markets will be looking for an assessment of the South Korean government’s findings, but that may be a number of days away.

Litecoin will need to break back through to $260 levels this morning to a avoid sub-$245 levels, with the more bearish investors likely to have already played their hand for now

LTC/USD 09/01/18 hourly chart

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Ripple woes continue

At the time of writing, Ripple was down 1.71% to $2.36449, with the declines following a Monday tumble that saw Ripple hit an intraday low $1.61 midway through the day, though support kicked in with Ripple managing to regain some of its composure.

Following last week’s declines that came in the wake of Coinbase announcing that Ripple would not be included on its exchange, it’s perhaps not surprising that Ripple will be among the more sensitive cryptocurrencies to talks of increased regulatory oversight and possible exchange closures.

It’s been a tough start to the year and, while the negative sentiment continues to linger, how the South Korean exchanges move to implement the necessary KYC and anti-money laundering policies will be pivotal in the direction of Ripple and its peers over the near-term.

The size of the South Korean market is by no means small, so for the exchanges to flout the requirements of the South Korean government does seem unlikely, while possible.

For Ripple, sub-$2.3 levels could see Ripple make another move to sub-$2.00 levels, with upside through the day likely to be limited.

XRPUSD 09/01/18 Hourly Chart

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4 Industries that are Set to Witness Massive Disruption From Blockchain in 2018

For what it’s worth, Bitcoin rewarded its backers with 1,420 % gains in 2017 and Ethereum delivered more than 8500% increase in value in the same period. The arrival of more than 1000 new crypto coins in the markets also provided opportunities to investors who missed the boat on Bitcoin to profit.

2018, however, is shaping up to be the year that Blockchain technology itself will become a global buzzword. Blockchain technology is the underlying technology that powers Bitcoin and other cryptocurrencies. However, Bitcoin is but one expression of the applications of blockchain technology. This piece looks at 4 industries that are set to experience disruption from blockchain technology this year.

  • Payments and Money Transfers

The traditional payment and money transfer industry have remained practically stagnant in the last century because traditional financial institutions are inherently averse to change. The processes and systems for money transfers across national borders paint the picture of a particularly complex process as seen in the flowchart below.

Money Transfer Process
Money Transfer Process

Blockchain can facilitate a peer-to-peer transfer of value without the need for a centralized authority, clearinghouse, or institutional third party. Ripple (XRP), a blockchain application that wants to replace the SWIFT baking protocol is a valid representation of the disruptive potential of blockchain on payments and money transfers. In late 2017, when Bitcoin, Ethereum, and other cryptos started to suffer a correctional decline in price, Ripple was the only coin standing tall and booking gains because of its ability to address the systemic problems of traditional payment and money transfer solutions.

  • Academia

The fields of academia and education are one of the most conservative fields – there are centuries-old traditions and conventional that has remained in use to the detriment of new technology. Books are now available in electronic formats, but hundreds of thousands of books are still being printed and hundreds of millions of books are gathering dust in libraries all over the world. In addition, certificates are still issued in the paper even though everybody sends their resumes in electronic format.

Blockchain will disrupt how academic credentials are recognized and verified globally as 2018 gets underway. The current verification process for academic credentials is a manual process that follows a laborious case-by-case checking of paper documentation. Learning Machine is working with MIT Media Lab to build Blockcerts which makes it easy to store retrieve, and verify academic credentials on Blockchain.

blockchain academia

The flowchart above shows how blockchain can improve the process for verifying academic certificates. In the words of Philly Schmidt, “Using the blockchain and strong cryptography, it is now possible to create a certification infrastructure that puts us in control of the full record of our achievements and accomplishments.”

  • Forecasting in predictive markets

One of the industries that could witness the biggest changes powered by Blockchain technology is the forecasting and predictive markets industries. Predictive markets provide actionable information that people in the consulting, research, and analysis industries use to curate targeted insights for making educated decisions. The problem however with the current forecasting industry is that any self-styled expert could come out with predictions. Unfortunately, many of those predictions are gambles – a large number of which turn out to be false or evident truths.

Now, blockchain technology could make it easy to track analysts and their predictions over time in order to know if there’s any iota of legitimacy in their claims. BlitzPredict, for instance, is particularly interested in bringing the immutability of blockchain technology to disrupt the predictive markets for sports. The traditional sports prediction industry is currently under the control of centralized authorities in which analytics are fragmented, users tie down money as deposits, and payouts often take a long time to process.

BlitzPredict is trying to aggregate data from different sportsbooks and prediction markets, store them on the blockchain, in order to give users a chance of getting the best odds on any bet. In addition, BlitzPredict wants to incentive sports analytics expects to create reliable predictive models, stand by their predictions, and build a following that helps sports enthusiasts make informed decisions.

  • Real Estate

First-time homeowners and non-professional investors in the real estate market are often overwhelmed by the sheer size of the volume of paperwork involved in real estate transactions. In addition, you’ll have to deal with errors in public records, brick wall in terms of transparency before and after the transaction, and the possibility of fraud (intentional or unintentional) along the way.

Blockchain solutions could improve efficiency in real estate transactions by reducing paper documentation and immutable ownership records. Blockchain will also reduce the number of intermediaries and third parties; thereby lowering transaction costs for stakeholders.

Ubiquity, for instance, is a blockchain-as-a-service platform for mortgage, title, and finance companies. Ubiquity believes that uploading property records and title documents to the blockchain could make it easier to facilitate a peer-to-peer transfer of real estate assets. Blockchain could also facilitate the growth of services such as AirBnB where people can exchange real estate assets for monetary value over a short term.

Ethereum takes the Battle to Ripple

The weekend was a telling one for Ethereum that had given up its 2nd place ranking to Ripple at the turn of the year, with many seeing Ripple as Bitcoin’s main challenger for the number one spot in 2018.

It’s been a stellar weekend for Ethereum however and, while Bitcoin may have coughed up its weekend gains, Ethereum has been on the rise with gains of 8.85% to $1217.33 at the time of writing.

Having broken through to $1,000 levels for the first time last Thursday, talk of an end to Ethereum’s dominance behind Bitcoin has certainly woken up investors who had been looking elsewhere for the exponential gains that many have become accustomed to.

Sideways moves are of no interest to anyone and cryptocurrencies face significant selling pressure even after a few days of lateral instead of vertical.

For Ripple, today’s losses have been telling, with Ripple down 9.52% to $2.5.

The good news is that, in spite of Ripple’s losses in recent days, there are three major cryptocurrencies with market caps in excess of the $100bn market.

The bad news is that investors may be unclear on who actually has the greatest influence on the future of the cryptos, the teams developing and bringing the respective blockchain technologies into the real world, or the exchanges who decide what can and can’t be sold.

If there was a moment when it became evident that the cryptomarket is just not mature enough, it would have been the market response to the announcement that additional cryptocurrencies would not be included on the Coinbase exchange.

It’s been downhill ever since for Ripple and Ethereum has been the primary beneficiary. Since the news, Ripple has seen its market cap slump to $100.66bn, with Ethereum retaking 2nd spot, with a market cap of $120.04bn.

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While Ethereum and Ripple fight it out for the number 2 spot, Bitcoin investors have something interesting to consider.

Going into the weekend, Bitcoin managed to rally through to 17,000 levels, before coughing up the gains ahead of the start to the new week. The relationship between Bitcoin and Bitcoin futures during the week is certainly evident, with today’s 1.71% decline to $15,849.01 more likely to be as a result of Bitcoin future contract declines than a shift in sentiment towards Bitcoin itself.

Through the early part of the day, the Cboe’s January Bitcoin contract was down $885 to $15,890 at the time of writing. With the futures markets closed through the weekend, the influence of the Cboe and CME futures platforms appears to soften on the Bitcoin clan and Bitcoin in particular.

It’s too early to suggest that such a trend will likely establish itself, particularly when there is no suggestion in the futures markets that $17,000 are on the horizon at the time of writing, even when looking down the road towards March expiry.

Friday’s settlement price on the January contract may well have supported a move to $17,000 levels, but one does wonder whether investors on the futures markets are taking a similar view with regards to the unsupervised weekends.

Momentum for now is with Ethereum, but we’re not likely to see the other cryptos go through the day without attempting to draw in some of the appetite. Ripple has lost the most and has the least to gain for investor sentiment to bounce back. For Ethereum, it’s going to be about holding on to $1,000 levels. A pull back to sub-$1,000 could see appetite for Ripple return.

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 08/01/18

Bitcoin Cash in Defensive Mode

It was quite a weekend in the cryptomarkets, with Bitcoin managing to break out of its recent ranges and with it Bitcoin Cash moving to a high of $2,758.9 before going into retreat on Sunday.

In spite of Sunday’s 2nd half of the day reversal, Bitcoin Cash has been relatively steady through the early part of the day, down just 0.40% to $2,516.4 at the time of writing

There’s been no bad news to influence sentiment through the beginning of the week, though a number of the major cryptocurrency exchanges have begun to cease taking on new customers, due to overloading issues stemming from a surge in demand for the cryptocurrencies.

The news may limit any material upside for Bitcoin Cash, with new players considered to be key to driving prices to new record highs.

Through the morning, Bitcoin Cash will need to break through $2,600 levels to make a run towards the weekend high $2,758 and beyond, though we will expect Bitcoin and Bitcoin futures to have an influence, with Bitcoin futures on the decline this morning, the January contract down $885 to $15,890, contributing to Bitcoin’s reversal from $17,000 levels hit going through the weekend.

BCH/USD 08/01/18 Hourly Chart

Bitcoin Cash Chart by Trading View

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Litecoin Got Its Rally but Couldn’t Hold On

Litecoin was another beneficiary to the weekend rally in the Cryptomarkets, with Litecoin hitting a weekend high $304.00 before going into reverse.

Saturday saw a surge in trading volume off the back of Litecoin founder Charlie Lee’s views on the current price ranges, with the Founder unconcerned over the near-term lack of direction.

The Litecoin team may not be particularly interested in Litecoin’s ranking by market cap, but for Litecoin to succeed, the team will need to make more of an effort to market the currency, as other crypto-teams have done in recent weeks.

At the time of writing, Litecoin is down 1.5% to $267.99, with a move back towards $280 levels needed for Litecoin to have a run through to $300 and beyond. Talks of $400 are on hold for how and time will tell whether Litecoin can break through and hold on to $300 levels.

Volumes have fallen well below Saturday’s levels and it remains to be seen whether the news of exchanges pausing new account openings will have any negative impact. There has been no signs of a sell-off just yet.

LTC/USD 08/01/18 Hourly Chart

Litecoin Chart by Trading View

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Ripple Down but not out

Appetite for Ripple has been on the decline since the December rally and first week of the year rally that saw Ripple make waves, hitting a record high $3.34989 last Thursday.

It’s been downhill ever since, with Ripple not the first to suffer from post-Record blues.

At the time of writing, Ripple was down 9.52% to $2.5, having hit an intraday low $2.30. In spite of the negative sentiment, the outlook remains bright for Ripple and current levels will provide scope for those who missed out on the Thursday rally to get in on the Ripple bandwagon.

With exchanges inundated with new customers and a surge in demand for cryptocurrencies and trading activity, investors will need to be quick, though it’s looking ominous for Ripple today, having enjoyed a great few weeks.

We will expect strong support at $2.40 levels, with any decline to sub-$2.40 likely to test $2.00 support levels, with a move back towards $2.80 needed to thwart a more significant sell-off.

XRPUSD 08/01/18 Hourly Chart

Ripple Chart by Trading View

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Regulators, Exchanges and their influence on Cryptos

What was gearing up to be an interesting week for Bitcoin has ended with little more than a huff, after talk of the South Korean government shutting down the country’s cryptocurrency exchanges, saw Bitcoin fall back to sub-$13,000 levels.

The reality is that such a move would have a far greater price impact than seen over the last week and the very fact that central banks and governments still have the power to have such a material impact on what is considered to be a decentralized, independent alternative to fiat currency goes to show that it’s not quite what it says on the label.

For now, the South Korean government appears willing to allow the exchanges to continue, though they will certainly be under increased scrutiny, and if there are more cyber-attacks that can be linked back to North Korea, then speculation may build again on whether there will be more from the government.

Other good news for Bitcoin was the China’s PBoC stating that there would be no ban on Bitcoin mining, though the talk of increased power consumption will test the government’s new found interest in the environment.

Regulatory risk remains one of the key risks that the cryptomarket faces and with Bitcoin being the largest by market cap, it has more to lose.

Bitcoin closed the day relatively flat on Thursday, down just 0.65% on the day, having fallen to an intraday low $14,192.37 in the early part of the day.

A lack of chatter and an uninspiring futures market has seen investors look elsewhere for gains. The Cboe Bitcoin futures January contract is up $115 to $15,060 at the time of writing, easing back from an intraday high $15,280. The limited upside and Bitcoin’s falling market dominance can be partially associated with the launch of the Bitcoin futures market last month.

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Adding further direction towards the cryptocurrencies is crypto-exchange chatter. As was the case on Thursday, with Coinbase killing off rumours of Ripple being included and last month’s talk of insider dealing and the resulting impact on Bitcoin Cash. These are just two examples of how much influence the larger exchanges have on the direction of the crypto-majors and in an unregulated environment, manipulation is likely to be more common than the news feeds suggest.

As the markets begin to view Bitcoin as more of a tradable asset class and less of a speculative investment that can derive exponential gains, sensitivity to the noise will be akin to the impact of central bank commentary on fiat currencies. The question will be whether crypto-exchanges will take advantage of their position of influence, as central bankers do, or simply provide the necessary platforms for investors to trade.

With Bitcoin down just 0.5% at $15,067.32 at the time of writing, the day ahead looks to be an almost mirror of how the market played out on Thursday and, if there any signs of one of the other cryptocurrencies looking to make a move, that’s likely to be another negative for the Bitcoin futures and Bitcoin clan.

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 05/01/18

Bitcoin Cash going nowhere for now

Bitcoin Cash continued to test $2,300 support levels through the 2nd half of Thursday and the early part of today, with the sideways moves coming from a relatively silent news feed.

The lack of Bitcoin chatter has certainly left the Bitcoin clan relatively flat, with Bitcoin Cash up just 0.49% to $2,361.1 at the time of writing.

The only good news was China’s central bank, the PBoC, killing of rumours that there was going to be a ban on Bitcoin mining.

Through the first week of the year, the rumour mill has certainly been active and just goes to show how key players in the cryptomarkets are able to manipulate prices through the chatter.

With Ethereum having hit $1,000 for the first time and some of the other major cryptocurrencies on the move, the lack of direction will be an issue for Bitcoin Cash investors.

To avoid testing $2,300 support levels for a 2nd day running, Bitcoin Cash will need to break out beyond $2,450, with this morning’s $2,487 spike failing to drive a rally up to $2,500 and beyond.


Bitcoin Cash Chart by Trading View

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Litecoin desperate for a rally

There’s been very little for Litecoin investors to cheer about going into the New Year, with any attempts to break back through to $300 levels ending in Litecoin pulling back to its current $230 – $240 ranges.

Market consensus is that Litecoin remains particularly undervalued at present and that it’s due for a rally up to $400 levels.

While Bitcoin has seen investor interest diluted as a result of the exponential gains being enjoyed elsewhere, Litecoin has also fallen out of favour, with there being a lack of clarity on how exactly Litecoin will be able to compete with Bitcoin as an alternative to fiat money.

Bitcoin is already being accepted by vendors in cryptohavens and the acceptance comes in spite of Bitcoin’s shortcomings, which include particularly slow transaction times. Litecoin certainly addresses the issue, but until the team make some inroads we will expect attention to be placed elsewhere.

At the time of writing, Litecoin is up 1.29% to $242, with a move through to Tuesday’s $262 high needed for a more sustained rally through to $300 levels. Any prolonged move within the current ranges and Litecoin could be looking at sub-$200 levels in the near-term.

LTCUSD 050118

Litecoin Chart by Trading View

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Ripple Takes a Hit

Investors are starting to get a sense of what truly drives the cryptocurrencies and one of the key drivers is inclusion on the more prominent exchanges.

The crypto-rumour mill had played its part in Ripple’s stunning run through to a record high $3.34989 on Thursday, as investors speculated on Ripple’s inclusion onto the Coinbase exchange. The exchange’s announcement that it would not be adding any cryptocurrencies onto its exchange on Thursday afternoon saw Ripple fall back down to $2.85 by the close.

It’s been a choppy start to the day, by Ripple standards, with Ripple up 4.92% to $2.725 at the time of writing, recovering from an intraday low $2.45.

While Coinbase has talked down the rumours of Ripple’s inclusion, investors will be betting that such a move will be likely in the near future, particular when considering Ripple’s rise in prominence at the end of the year. The speculation will likely continue providing support, with Ripple unlikely to fall back down to earth anytime soon.

XRPUSD 050118

Ripple Chart by Trading View

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CryptoMania: TerraNova Surges 500%. Ripple, Cardano, Stellar and TRON with Double Digits Gains

The action continues in the cryptomarkets as more and more coins begin to come under the limelight. The BTC market is in a bit of a lull as the bitcoin futures has helped to cap the gains for now and also, the regulators seem to be focussing increasingly on the BTC market which has made the investors and the speculators a bit edgy. That is why they have been shifting their attention to the altcoins and today, Terranova has been the star.

This crypto had been quiet for a long time and a study of its history shows that there has been very little volume in it during this long period. But it looks as though some big investor or whale seems to have noticed it over the last couple of days as its price has surged by over 500% over the last 2 days and it now trades comfortably over the $2500 region as of this writing. There does not seem to be any specific fundamental developments or news that has made the price of the coin go berserk during this period but it looks more like some serious investor entering into this market.

Other altcoins are also enjoying the limelight as ripple, TRON, Cardano and Stellar have posted double digit gains over the last 24 hours with ripple especially having a great time over the last couple of weeks having more than tripled during this period. It is turning out to be a survival of the fittest in these markets and it remains to be seen which of thee cryptos would be able to overcome the odds and gain the attention of the investors and traders who would in turn help to push the demand and the prices higher.

The Future of Cryptocurrencies: There’s a 20% Chance of a Significant Correction

What will happen next year? Crypto-technologies have integrated deeply into the financial world – the future of Bitcoin has already been announced, cryptocurrencies are indexed on exchanges, token sales successfully raise funds. Without any doubts, cryptocurrencies have become part of the economic landscape.

But will this development continue at the same incredible pace, or will it instead become more streamlined? Will the Bitcoin’s rate continue to grow, or can we look forward to some correction? How flexible or rigid is regulation going to become?

We asked the head of BANKEX Capital Network David Finkelstein to share his insights about the future of cryptocurrencies in 2018.

  • To what extent are cryptocurrencies accepted today?

Many affluent people today still have no faith in cryptocurrency, attributing its dynamics to the hype and expecting it to crash. Personally, I don’t believe in such collapse. I believe cryptocurrency is going to find its place in the modern economy, even though for the time being, unlike other assets, it has no fundamental evaluation.

When, for example, you purchase shares in Tesla, you can look to the various models in order to estimate the fundamental values of the shares. Which is why, if Tesla shares suddenly skyrockets, it will be clear to everyone whether its price is warranted. This model, at least, allows you to understand what kind of profitability the marketplaces in the shares.

In case of Bitcoin, however, there is no such model, so nobody knows how much it should be worth. From my perspective, its proper value is supposed to be derived from the quotient of USD people are willing to store in it. For instance, if people are willing to store $100M in Bitcoins, while the total amount of bitcoins is 21 million, we can divide one by the other then we will receive a reasonable exchange rate for Bitcoin.

  • Why store dollars in Bitcoins? Will cryptocurrency replace fiat currencies?

This is unlikely to happen. Because there are countries that can, at any point, put an end to the existence of the crypto world. It’s not complicated, but they don’t want to do it. What they want to do is to head this whole movement in order to collect taxes. That is why regulators all over the world are pondering how to find a better approach in this field. And when they come to a conclusion, which may well take time, the rules of the game will change.

  • Bitcoin is already being referred to as “digital gold” and one of its unique features is its finite amount. We don’t know how much gold there is in the world, and someone might discover a new mine and start extracting it. That is not the case with bitcoin. Imagine if there was a limited amount of dollars and you could never print more.

That’s normal, it means there is a secondary market needed. Bitcoin, like anything else, has its market price, which is currently being defined by crypto exchanges. In economics this is always the case: when a person has an asset, there will always be a sum for which the person would be willing to sell this asset. If everyone decides to sell the Bitcoins they have,  its price will decrease. Whereas if many people decide they want to buy them – their price will grow. But between them, there will always be an equilibrium price.

  • Will other cryptocurrencies as powerful as bitcoin emerge anytime soon? Right now we see an enormous gap between Bitcoin and all other cryptocurrencies.

Generally speaking, all cryptocurrencies is a whole. Bitcoin grows simply due to the fact that the concept of crypto-currency is associated only with it. The investments from non-professional players have begun to invest in Bitcoin and that stimulated such a growth – an asset can only keep growing while there is a demand for it. If it’s a bubble, then it bursts once the influx of buyers comes to an end. This leads to a natural state of panic and all starts to collapse.

  • Can you make a balanced portfolio out of cryptocurrencies? Even though they move together with Bitcoin?

Yes, you can. A balanced portfolio can be made out of anything. Every time we add any new asset, it decreases the overall volatility of the portfolio.

  • What should one add to bitcoin in order to make such a portfolio?

That depends on the goals of the portfolio. If it’s solely for sake of exposure to crypto, then you would need to add other cryptocurrencies. But there are many nuances. If it’s a long-term portfolio, then it would require some Bitcoin, some Ether, and some other cryptocurrencies, evaluating them in terms of reliability and combining them with reasonable counterweights. You can calculate the Kelly Criterion, optimize your portfolio… but all of this has to be done professionally.

  • Are there other secure cryptocurrencies besides Bitcoin and Ether that are worth including in your portfolio?

There must be, but I am not ready to name them. The reality today is that people mine whatever is the cheapest because it’s easier. But for now, the market has no faith in new currencies, because the power of a currency is defined by the number of people who use it, and this number is not great enough. So people mine it, then at the end of the day, they convert whatever they mined into Bitcoin because it’s considered more secure. How exactly this situation is going to change, I can’t tell now.

  • With the year coming to an end comes a time to make predictions. What do you think will happen to Bitcoin, how will the world of cryptocurrency develop in general?

If we are talking about exchange rates, then I don’t believe it will drop too much. There will not be a total crash. I would say there’s a 20% chance of a significant correction of Bitcoin rates to the level of $5000. For the same reasons I have already mentioned earlier – there is no fundamental model, based on which you could say Bitcoin is worth 5 or 100 thousand dollars.

In all other cases, whenever collapses occur in the market, there is always a fundamental price model, and that has been true for everything from tulips to shares in certain tech companies, that is, in my opinion, currently overrated.

In this case, either the market value catches up with the model and the asset rises or model catches up with the cost.

  • How much is the level of cryptocurrency acceptance going to grow? What will happen to regulations?

There is no doubt that everything is going to develop very rapidly. New products will emerge in capital markets and they will very find ways to implement crypto quickly. Basically, everything there is on the financial markets today will re-emerge with the form of crypto. And I do mean everything, such as advisory, investment management, financial management etc.

  • All the same, but with “crypto”?

It will more likely be crypto-fiat asset management. Asset managers now want crypto to be included in their portfolio. Another noteworthy trend is that at some point regulators will have to find a suitable place for crypto. I don’t think this field will enjoy as much leniency as there is now. There will be more regulations, as well as mutual conversions and eventual integration between fiat and crypto-financial services.

  • And of course, we have to bring up ICO…

I think ICO is very reasonable. Much like IPO and, before them, LLC – Limited Liability Companies, ICO provides people who receive capital to realize their ideas with even greater freedom. This new fundraising mechanism truly does accelerate the economy, therefore it’s very reasonable. Humanity has a natural need for ICO. Before that, there was no way of collecting 25 cents per person out of a million people, but now there is one. This injects more energy for the most ambitious projects, the greatest fantasies. ICO is a great idea!

  • So why do regulators try to ban ICOs while proclaiming it is to protect non-professional investors? Shouldn’t people think for themselves when choosing to give their money to whom?

The problem is there is a fine line between those who are raising funds for an actual project and frauds. The economy needs a mechanism to get rid of frauds. For instance, people take their company to ICO, then they just take the money and vanish without a trace. Or else they falsify accounting information and overrate the company’s value (as it happened with Enron). The regulator’s task is to distinguish frauds and legitimate businesses.

They are trying to do this with ICOs, although perhaps this task could be carried out with the help of the community, the communication between people. The regulator’s role is not to defend the investors, but to clear the market for scams. Non-professional investors are easily lured when you promise them a goldmine. And if there are too many cases of fraud, then it discredits the idea of ICO in the first place and makes people lose their faith in the crypto economy –That actually poses as disadvantageous to the government.

  • I know BANKEX token sale is coming to an end. How are you planning to use the raised funds? When should investors expect results from their investments?

Our website has an elaborate description of our directions and roadmaps that we follow. For instance, in Q1 BANKEX will issue an innovative blockchain platform for movie financing. Led by Oscar-winning Hollywood producer Christopher Woodrow, MovieCoin™ will use BANKEX’s blockchain based Proof-of-Asset protocol and BKX tokens to help film industry raise funds with greater ease and speed.

As we are a B2B company, our token price is strongly associated with the news about BKX token usage. For example, when there is news that Ripple will be used by BBVA bank its price increased around 10x times.

Financial institutions that adopt BANKEX solutions will form the backbone of the early-era Internet of Assets. Our tokens will make this happen. Taking into account that in the future the number of services and ecosystem participants will grow, we realize that the volume of tokens should also increase. The tokens are designed as utility tokens and their primary function will be in circulation. The idea of issuing more tokens in the future is intended to keep the growth of the ecosystem with the focus on value.

Global Equities Remain Bullish with Firm Data, Ripple Surges Over 30%

The U.K has seen a good Home Price Index report. Wall Street begins its day in record territory and jobs data will come from the States.

S&P and NASDAQ Break Records, Investor Sentiment Strong in States

The S&P and NASDAQ led Wall Street yesterday, and the major Indexes broke record highs. Investor sentiment remains bullish following the New Year’s holiday. Traders are geared for employment data in the States, the weekly jobs numbers are today and tomorrow the monthly figures will be released – including the Average Hourly Earnings.

Nikkei Index Powers Ahead with +3% Gain, China Services Data Solid

The Caixin Services report from China produced a solid reading this morning, however, the good economic news from the nation has been overshadowed by the huge gains made by Japanese equities. The Nikkei Index has powered higher more than 3 percent today. And the Yen has been weaker against the U.S Dollar. Monetary Base data will come from Japan early on Friday.

Ripple is the Second Biggest Cryptocurrency as it Surges 40%

Ripple’s rally continues on Thursday as prices rise 36% at the time of writing. The coin is currently trading at 3.81, with a market cap of 147B. Ripple start the year below 2$ and the rally continues as Ripple’s technology and recent cooperation with big firms attract investors’ attention.

Good U.K Home Price Index, Euro Traders Waiting for Tomorrow’s CPI

The Nationwide Home Price Index in the U.K produced a surprisingly strong increase this morning of 0.6% compared to its expected gain of only 0.1%. The result may soothe investors who didn’t like yesterday’s Construction figures from Britain. The Pound has range traded early today, but faced some headwinds and is near 1.3525 against the U.S Dollar. The European Union will publish its Flash Estimate for it Consumer Price Index tomorrow and its results will impact the Euro.

Stiff Resistance Pushes Gold Back, Traders Ready for Fast Conditions

Gold has run into stiff resistance. After testing higher realms the commodity has been pushed back slightly and is trading near 1310.00 U.S Dollars an ounce. However, Gold remains well within the upper tier of its short-term range and traders should be ready for volatility to emerge.

Jobs Data Parade Begins Today, Crude Oil Inventories Data on Calendar

Investors will look at the weekly Unemployment Claims figures with interest, which will be released today at 13:30 GMT.

  • 13:15 PM GMT U.S., ADP Non-Farm Employment Change
  • 13:30 PM GMT U.S., Unemployment Claims
  • 16:00 PM GMT U.S., Crude Oil Inventories

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

Ripple Solves Business Problems: Bitcoin Bubble and the First Mover Advantage Problem

Could Ripple be a better choice than Bitcoin?

If I had to bet on one crypto coin, then the case for Ripple is far stronger. Most people do not dig into the technicalities. Ripple has a strong advantage when it comes to technology.

Whereas Bitcoin was principally established for peer to peer money transfer between individuals, Ripple was established to handle interbank transfer at the larger size. That means more volume and therefore more value of the coin.

Of course, it has the basics of any decent Cryptocurrency; first, connectivity across payments networks, second, the speed of instant on-demand settlement, third, real-time traceability of funds and finally, low operational and liquidity costs.

But what caught my attention is the global network of customers. Ripple has customers such as Santander, Standard Chartered, Credit Agricole, UBS, American Express, India’s Axis Bank, BBVA among others. That’s impressive and Ripple’s investors know that with a solid costumers portfolio, Ripple’s future is bright.

FYI, Ripple is not the original name of the coin, XRP is the name of the coin. Ripple is a private company, different than other cryptocurrencies, meaning, XRP is a centralized coin.

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Who Solves the Bigger Problem?

Ripple was created to solve an important problem, the transaction’s delays between banks. Currently when my business wires fund abroad through my bank, if any information is incorrect, the payment is returned and delays accrue. The chances of error are huge. If you’ve never sought an MT103 trace from your bank, you will not truly appreciate the problems of international corporate money transfer and the ensuing stress.

Ripple ensures both banks validate critical information such as customer ID, fees, rates, time of delivery before funds are transferred. This allows the bank to know beforehand if the transaction will pass or not and so remove the failed transaction problem. By removing the correspondent bank, we remove risk management issues too.

But unlike Bitcoin, which can take over an hour to settle, (still better than traditional systems taking 3-5 days, if you get to your bank before 1530!), Ripple settles in 4 seconds. By the way, Ethereum takes over two minutes.

Ripple handles about 1,500 transactions per second, 24×7. They do claim they can do match Visa scale of 50,000 per second.

Who is behind Ripple?

As mentioned above, Ripple is a private company and that XRP is a private cryptocurrency. As an asset manager running a private equity fund, I like to know who is investing a backing a company. Ripple’s shareholders include Andreessen Horowitz. Not heard of them? They backed PayPal as an original founding investor. How about Google Ventures, Santander InnoVentures, Standard Chartered and Accenture – all investors as shareholders in Ripple.


A traction of any technology is not just if the public is interested, but the big entities. In the case of Ripple, it does not get bigger than the Bank of England. The Bank of England Accelerator has published a report on how they may be able to use Ripple for real-time settlements.

This article was written by Alpesh Patel, a hedge fund manager and author of Trading Online (Financial Times). Patel is a partner to 24option, offering CFD trading on Cryptocurrencies.

The content of this article constitutes Marketing Communication and does not qualify as Investment Advice or Investment Research. 24option accepts no liability for the content of this article, or for the consequences of any actions taken on the basis of the information provided.