Is Bitcoin Ready to POP!?

Bitcoin managed to find its feet in the 2nd half of the day on Tuesday, rallying from an intraday low $12,910.58 to $14,848.91 by the close, shy of an intraday high of $15257.53.

The upside through the day came following some sideways moves through the turn over the year, with the cryptomarkets considering the possibility of the South Korean government shutting down the country’s crypto-exchanges.

On Tuesday, the South Korean government provided a further update on its intentions, stating that the opening of anonymous crypto-exchange accounts would be banned from the 3rd week of January, on or around 20th.

Exchanges will be required to bring on board KYC processes similar to those carried out by banks, while anti-money laundering rules will also need to be improved and, in some cases, incorporated.

There was no suggestion that there would be an outright shutdown of exchanges, though a failure to adopt the new regulations may well result in suspension or closure once enforced.

Adding to the upside in the last 24-hours was news of the Founders Fund’s holdings in cryptocurrencies, including Bitcoin, with the Fund reportedly having bought between $15m-$20m of Bitcoin, which contributed to the hundreds of millions of dollars in cryptocurrencies held by the Fund.

The smart money also responded to the news through Tuesday, with Bitcoin Futures on the rise, supporting Bitcoin investor sentiment, with the pair having been tracking each other through the morning.

Things are not too dissimilar in the early part of the day today, with Bitcoin up 3.15% to 15,141.53 at the time of writing and Cboe’s Bitcoin futures January contract up $375 to $15,430.

Bitcoin may have eased back from an intraday high 15,500, but with the current spread favouring Bitcoin futures’ January contract, there will likely be some more upside for Bitcoin through the afternoon, though the futures markets will need to hold on to current levels.

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Looking at the Cboe’s February and March contracts, pricing has improved with Bitcoin expected to see upward momentum through the 1st quarter, though there are certainly no hints of a rally to the dizzy heights of $20,000.

This will continue to be an issue that Bitcoin will face and may ultimately lead to a further decline in Bitcoin’s market share. Unless the smart money is willing to bet that Bitcoin is going to make more sizeable jumps intraday, as it has been known to do through its relatively short history, investors may well look elsewhere for the exponential gains that are still likely to be delivered by some of the more than 1,300 cryptocurrencies in the market today.

Lumen (XLM), for instance, is up 22% this morning and up by 94% in just the first few days of the year, compared with Bitcoin’s 9.09% year-to-date gain. That’s quite a difference in return, with even Ripple delivering more than 20% through the first few days. Some will sit tight, hoping that Bitcoin can make its 2017 jumps through the year, with the knowledge that even the 9.09% gain is well ahead of any of the global equity markets and will likely to remain ahead over the near-term at least.

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Betex is the First Peer-to-Peer Binary Option Platform

On Betex, the blockchain technology will enable traders to place bets with one another and not with the trading platform, the platform provider unable to engage in any betting activity, making Betex an impartial party that earns income solely from service fees.

Betex’s goal is to reinvent the financial derivatives market by delivering an incorruptible business logic that addresses trust issues persistent in the marketplace today. Unlike the more traditional funding platforms, the Betex blockchain platform provides traders with access to real-time data, delivering complete transparency.

Payouts from the platform are automatically released to traders’ Ethereum wallets through smart contracts. No deposits are required to gain access to the platform and services that Betex will be offering.

Not only does the Betex Ethereum powered platform bring transparency and fair conduct, but also provides audible results to binary options trading.

95% of the fees generated on the Betex platform are to be distributed to the traders using the platform and services on offer. Of the remaining 5%, 2.5% of the platform’s total turnover will be distributed to token holders, 2% to brokers, 0.3% to the development team,  while 0.2% will be held in reserve.

betex

In summary, key features of the Betex platform include total transparency, provable fairness, a common pool of liquidity, white label offering for brokers and instant payouts.

Betex launched its Round 1 Betex token pre-sale on 4th December 2017 and is scheduled to end on 8th January 2017, with the 1st pre-sale only available to an investor who has completed the KYC / AML process. 5% of the total number of tokens were made available for 1st round pre-sale.

Round 2 of the Betex token pre-sale is scheduled to start on 10th January 2018 and end on 31st January 2018, where a total of 15% of the total number of tokens will be made available for sale.

The sales price of the tokens rises from $2.00 in the 1st round to $2.50 per Betex in the 2nd round, with 40% of the tokens then made available during the main token sale in 2018, the dates of which will be made available after the company has registered with the appropriate regulators, including the Securities and Exchange Commission.

During the pre-sale rounds, the sale of tokens will be under a simple agreement for future tokens (SAFT) agreement, with the minimum purchase amount in the 1st round being 15,000 Betex tokens and 5,000 tokens in the 2nd, with Betex accepting either Bitcoin or Ethereum for the purchase of Betex tokens.

Of the remaining tokens post-sale, 30% will be allocated to Betex’s founders and team members, with 8% of the tokens to be held in reserve.

For interested parties looking to buy Betex tokens during the 2nd round pre-sales period or during the main token sale, purchases can be made on Betex’s website, where the dates of the main token sale will also be made available.

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 03/01/18

Bitcoin Cash on the Move

What a difference a day makes and, while in the early hours of yesterday Bitcoin Cash was struggling to hold on to $2,300 levels, a move through to $2,400 in the middle part of the day was just the tonic, with Bitcoin Cash closing out Tuesday at $2,579.

Momentum has remained with Bitcoin Cash this morning, gaining a further 5.15% to $2,683.9 at the time of writing.

The upside has come in spite of the South Korean government formalizing the date on which the ban on the anonymous buying and selling cryptocurrencies will be enforced, that being during the 3rd week of January.

The lack of reference to a possible shut down of cryptocurrency exchanges was good enough for the cryptomarkets, though it’s yet clear what other rules and regulations will be rolled out to ensure that the KYC rules are appropriately followed by the respective exchanges.

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Bitcoin Cash Chart by Trading View

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Litecoin falls behind

Litecoin managed to bounce back from an intraday low $250 in the early part of the day, though it’s still struggling to hold on to Tuesday’s afternoon rally, which saw Litecoin move from $244.81 to a $262 high before easing back ahead of the close.

At the time of writing, Litecoin is down 0.02% to $253.28, though with Bitcoin and the gang in positive territory, Litecoin should find some support from the improved sentiment across the cryptocurrencies.

Bitcoin’s gains today will have held back a Litecoin rally, though as Bitcoin continues to give up its dominance over the cryptomarket, Litecoin could begin to move more independently. Much of this will depend on Litecoin’s marketing team.

As the Ripple team have demonstrated, the correct messaging can have a significant influence on value.

For the day ahead, Litecoin will need to move through to $260 levels to hold on, with any fall back to sub-$250 levels likely to see a move back to the low $240s. There’s a lot of competition out there and Litecoin’s going to need to deliver to investors, or things could get a little shaky.

Litecoin Chart by Trading View

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Ripple takes back control

Tuesday may have started a little choppy for Ripple, but early morning fall to $1.93 didn’t last long, with Ripple finding strong support at $1.93 levels.

It’s been positive since the early hours of yesterday, with Ripple closing out Tuesday at $2.1999 before this morning’s 6.45% rally to $2.35.

In recent days, while Bitcoin Cash may have bounced back from its recent ranges, Ripple looks to be the leading dip and pop cryptocurrency and has garnered significant attention since surpassing Ethereum in the market cap rankings into 2nd place. Ripple is the cryptomarket’s HODL currency of the day and we may well see Ripple splash into unchartered seas through the day, with the $2.48 high certainly in sight.

The Ripple team has done a phenomenal job in bringing the currency up the rankings and, as its platform gets more widely recognized within the world of finance, Ripple will continue to progress.

It wasn’t long ago that Ripple was sitting at $0.23 levels, December being the turning point for investors and the team.

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Ripple Chart by Trading View

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ETH/USD Price Forecast January 3, 2018, Technical Analysis

Ethereum markets rallied significantly during the day on Tuesday, as traders came back from holiday. By doing so, we have broken above the $850 level, and it’s likely that the pennant being broken to the upside should send this market much higher, pennant measures for a move to the $900 level. It makes sense that we would reach their, and not only because of the measured move, but the large, round, psychologically aspect of the number. It is also worth mentioning that the top of the Bollinger bands on the hourly chart measures at the $900 level as well.

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ETH/USD Video 03.01.18

I believe the pullbacks will continue to offer buying opportunities, as Ethereum has obviously gone into a bullish mode. I think that the market will eventually look towards the $1000 level above, which is a measured move based upon longer-term charts. Ultimately, the $1000 level above will of course offer a significant amount of resistance, as there of course has plenty of importance. I believe that Ethereum markets will continue to do quite well, and it could start to eclipse what we are seeing in the Bitcoin market. I think that if we were to fall from here, the $800 level should be massively supportive, based upon the previous resistance. Ethereum should continue to do quite well against the US dollar as well, mainly because the US dollar itself has been very soft. In general, I believe that the markets continue to offer a “buy on the dips” scenario, and is not until we break down below the $750 level that I would be concerned about the short-term uptrend. Longer-term, I believe that Ethereum will break above the $1000 level, probably sometime later this month.

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ETH/USD daily chart, January 03, 2018
ETH/USD daily chart, January 03, 2018

Bitcoin Gold DASH and Monero Price Forecast January 3, 2018, Technical Analysis

Bitcoin Gold

Bitcoin Gold rallied slightly during the trading session on Tuesday, reaching towards the $250 handle. That’s an area that will cause a slight amount of resistance, but I think we are more likely to go toward to the upside, perhaps reaching towards the $300 level after that. I think that short-term pullback should be buying opportunities, and I think that given enough time they will attract more buyers. Bitcoin Gold continues to show signs of billing a base, aiming towards the $300 level. If we can break above there, the market should continue to go much higher to the upside, perhaps aiming for the $400 level next, with several stops along the way. If we were to break down from here, perhaps down below the $230 level, then the market goes to the $200 level.

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Bitcoin Gold DASH and Monero Video 03.01.18

BTG/USD daily chart, January 03, 2018
BTG/USD daily chart, January 03, 2018

DASH

DASH rally during the trading session on Tuesday, testing the $1120 level, an area that has been minor resistance. I think that given enough time, the market will go looking towards the top of the recent consolidation area, which is the $1200 level. That is a massive resistance barrier, so breaking above there would be an extraordinarily bullish sign. In the meantime, if we pull back from here I think that there are plenty of support of levels underneath. The $1000 level underneath should be supportive based upon the larger number. I also recognize that there is a certain amount of structural support there as well, so I’m a buyer of dips and I believe that we will continue to see DASH go higher over the longer term.

DASH/USD daily chart, January 03, 2018
DASH/USD daily chart, January 03, 2018

Monero

Monero has had a volatile session, initially falling towards the $320 level, touching the bottom of the Bollinger bands indicator on the hourly chart. We turned around to form a couple of hammers in a row, and have since rallied towards the $360 handle. I think that short-term pullbacks continue to be buying opportunities, and that we should go to the $400 level in the short term. The 20 SMA is starting to turn upwards, which is always a good sign, and I think at this point as volume picks up after the holidays, more buyers will emerge in the Monero markets. Shorting isn’t much of a thought, least not until we break down below the $300 level, something that I don’t see happening today.

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Monero/USD daily Chart, January 03, 2018
Monero/USD daily Chart, January 03, 2018

BTC/USD Price Forecast January 3, 2018, Technical Analysis

Bitcoin markets rallied a bit during the trading session initially, reaching towards the $14,000 level. I think that the market is trying to break out of a descending triangle that we are forming on the hourly chart, and if we can clear the $14,000 level, I think that the market will continue to go higher, perhaps towards the top of the consolidation area that we have seen since just before Christmas, which means that we would go to the $16,000 level above. Ultimately, this is a market that breaking above the $16,000 level would signify a massive shift to the upside.

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BTC/USD Video Video 03.01.18

Ultimately, if we break down below the session lows, we could go drifting towards the $12,000 level which is the bottom of the descending triangle. A breakdown below the bottom of the descending triangle would send this market down to the thousand dollars level, as it is $4000 “tall.” The $8000 level is roughly 50% of the move from the bottoms, so it’s possible that we get this move and then the buyers return. Bitcoin markets have been very bullish until the last couple of weeks, which coincides with the futures markets opening. I find that interesting, because I believe that there are plenty of short-sellers out there in the industrial space that are benefiting from the need for retail traders to jump in. I think that institutional traders will be much more interested closer to towards the 50% Fibonacci retracement level, but having said that, if we were to break out I must follow that move as well. Keep an eye on this triangle, it could give us an idea as to where we go next.

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BTC/USD daily chart January 3, 2018

Bitcoin and Ethereum Price Forecast – Prices Move Higher on Bullish Momentum

Bitcoin prices have picked themselves up from the lows and have moved higher over the last 24 hours as the prices have moved from the $13000 region and are now in the vicinity of the $15000 region which is likely to pose some kind of resistance for it, atleast in the short term. The prices have been boosted by news that the co-founder of Paypal, Peter Thiel, and his fund had invested millions in bitcoins and this helped to grant further credibility to the bitcoin industry. TThe bitcoin prices have been driven by news over the last couple of weeks with the news of more regulations on the industry from South Korea leading to a fall in the prices.

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Prices Close in on $15000

It is a fact that many regulators are now looking at the bitcoin industry pretty seriously and are looking to push through regulations to restrict the trading in bitcoins. This is good and bad in equal measure as more and more regulations would reduce the amount of speculation and trading in the bitcoin market, which could affect its prices. But it would also make it more legitimate and bring in the bigger investors and prove that it is here to stay. That is the quandary that the bitcoin industry is facing at this point and that is the reason why we are seeing some choppy trading in the markets over the last couple of weeks.

Bitcoin 4H
Bitcoin 4H

The ETH prices continued to move higher through the $850 region and stopped just shy of the $900 region before correcting lower. We continue to believe that the $1000 price mark is only a matter of time before it is achieved and with the ETH mining likely to subside, the market would be driven by traders and investors and with limited supply, it should help the prices move higher in the medium term.

Forecast

Looking ahead to the rest of the day, we expect the bullish momentum in the BTC and ETH markets to continue for the rest of the day and it should keep the prices high and should begin to draw in more investors and traders as they start returning back from their holidays.

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Bitcoin Has Lost it’s Mojo and Bitcoin Futures are to Blame

It’s been a choppy 24-hours for Bitcoin. Perhaps not as volatile as the swings seen in December, but choppy nonetheless, leaving the currency with little direction.

Through the first day of the year, Bitcoin failed to break through to $14,000 and actually ended the day in the red, with Bitcoin futures prices providing little support to Bitcoin and investor hopes of a New Year bounce, which investors were likely to be looking for with the news wires in holiday mode.

Through the early part of this morning, things have not been much better, with Bitcoin up just 0.5% to $13,510.43. Bitcoin had it an intraday high of $13,918.01 at the very start of the day, but quickly pared its gains in what is looking to be a pivotal period for Bitcoin and perhaps some of the other cryptocurrencies that have struggled going into the New Year.

As is always the case, once an investment goes mainstream, as is the case with Bitcoin, expectations are that behaviour will adjust accordingly and, with the introduction of Bitcoin futures, things just haven’t quite been the same for Bitcoin.

If investors were looking for some guidance on which way Bitcoin was going to go at the start of the year, the pricing of the futures contracts for January and February expiry have certainly not been bullish and any hopes of a rally to new record highs have been muffled, in spite of some suggesting that Bitcoin could hit between $40,000 and $60,000 by the end of the year.

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At the time of writing, the Cboe’s Bitcoin futures contract for January was down $1,050 to $13,500, recovering from an intraday low $13,060, with the February contract seeing a heavier decline of $1,150 to $13,450.

Investors will be all too aware of how influential the futures markets have been on other asset classes historically, so while Bitcoin futures may be new, the concept is tried and tested.

With Bitcoin’s price at the time of writing above both January and February contracts, upside for Bitcoin is going to be limited at best and is certainly holding back any $1,000 moves in a matter of hours that investors saw through the latter part of 2017.

The smart money is suggesting that there are some concerns over current levels, particularly when factoring in a number of key risks drivers that are presently negative for Bitcoin.

Amongst the key risk drivers is regulatory risk and the possibility of the South Korean government shutting down cryptocurrency exchanges. This has certainly been an influence at the turn of the year. Until there is greater clarity on the intentions of the South Korean government, the futures market is unlikely to begin getting too bullish anytime soon.

Transaction speeds and backlogs is another fundamental issue that questions whether Bitcoin can ever become truly mainstream. On each occasion that sizeable backlogs have been reported, Bitcoin has taken a hit and such an event could occur at any moment, which is never a good thing for the smart money.

The good news is that there’s been no collapse, the bad news is that some of Bitcoin’s peers are performing well in spite of the risks, with Ethereum up 11.34% and Litecoin up 7.97% at the time of writing.

There’s no doubt that the year ahead is going to be a defining one for the cyptomarkets and there’s just cause for investors to continue to tread carefully at this point in time.

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 02/01/18

Bitcoin Range Bound For Now

Following Friday’s rally, there’s been little for Bitcoin Cash investors to shout about, with ranges over the last 24 hours being on the tighter side and remaining that way in the early part of today.

At the time of writing, Bitcoin Cash was up 1.05% to $2,330.3, off from its intraday high $2,440.2.

Strong support levels at $2,300 have continued to prop up Bitcoin Cash, though we will expect support to soften should Bitcoin Cash fail to move back through to $2,400 levels and beyond in the early part of the day.

Today’s early upside comes at the expense of Bitcoin, which is down 1.04%% to 13,304 at the time of writing, with Bitcoin failing to kick off the year with a bang.

Volumes have picked up, but until there is some more news from South Korea, the Bitcoin clan may be under the cosh for now.

Bitcoin Cash Chart by Trading View

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Litecoin finds some support

Following a non-eventful end to the year, with the first day of trading not much better, the environment has slightly improved for Litecoin in the early part of the day.

At the time of writing, Litecoin was up 6.65% to $240.2, which sits well below an early intraday high $254.89, but holding above $230 levels which is key.

Volumes this morning have been on the higher side and, with Bitcoin continuing to struggle for direction, a move through to $250 levels could see Litecoin make a make a run towards $300 levels in the week.

Any moves through the day may be considered too little too late for many however, as other cryptocurrencies begin to make their mark in the market place, with the likes of Lumen (“XLM”) having seen particularly strong gains at the turn of the year.

Litecoin Chart by Trading View

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Ripple on the bumpy road

The markets may have become accustomed to a constant upward trend, but the recent sideways moves by Ripple suggest that the December gains could be here to stay.

At the time of writing, Ripple was down 5.9% to $1.97575, coming off an intraday high $2.099 at the open.

The South Korean Government’s threats of shutting down exchanges seemed to have little influence on Ripple at the end of the year, but with news hitting the wires of just how much of an impact South Korean exchanges had on Ripple’s December rally and it’s not surprising that Ripple has been defending its gains at the start of the year.

Bitcoin may have been the fallout guy when it came to the regulatory chatter at the end of the year, but if the exchanges are closed, it’s not just Bitcoin that will suffer and, if the reports are correct of the South Koreans driving up Ripple trading volumes, things could get messy very quickly.

For the day ahead, Ripple will need to make a move through to $2.10 levels to have a chance of another record breaking run, with a failure to do so likely to see Ripple move back down towards sub-$1.93 levels.

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Ripple Chart by Trading View

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Bitcoin and Ethereum Price Forecast – BTC Moves Lower as Regulatory Pressures Increase

Bitcoin prices continue to be under pressure as the industry comes under more and more scrutiny from the various regulators and governments as well. Even many Asian regulators, which were previously considered as friendly to the bitcoin industry, have begun to crack down on the corporates and individuals that are associated with the bitcoin market and this is why the prices are facing the heat. It is indeed a bit surprising that bitcoin seems to be facing all the heat when there are so many other cryptos around, some of which are doing as good, in terms of ROI, if not better than bitcoins.

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Prices Under Pressure

While bitcoins have been getting all the good attention over the year 2017 due to its price rise and its high price, we believe that it is only natural that they get their share of bad attention as well as we enter into the year 2018. With the bitcoin market under the pump, it is likely that other altcoins, like ripple, ethereum and litecoin, begin to get their share of the attention and it is likely that they stand to benefit as the investors and traders look to diversify their holdings over the next few weeks as the bitcoin industry continues under pressure. The bitcoin prices have not been able to break through the $15,000 region and we believe that this pressure on the prices would continue for the short term as the situation continues to remain fluid for the bitcoin market.

Bitcoin 4H
Bitcoin 4H

With all the regulatory and restrictive pressure on the bitcoin market, the other coins have been having a relatively good time. Also, with the ETH mining market moving to proof of stake model, we are nearing the stage when the ETH cannot be mined for much longer and this is only going to increase the scarcity of ETH in the medium term. Hence, the ETH would be available only for trading and in the exchanges and this lack of supply is likely to push the prices even higher. We had mentioned in our forecast last week that we expect the prices of ETH to push through $1000 during the course of this week and with the prices now above $800 and looking bullish, we continue to look at $1000 as a short term target.

Forecast

Looking ahead to the rest of the day, we expect the BTC prices to continue to remain under pressure. The major markets would be open around the world and the traders would be back after their holidays and we are likely to see a lot of liquidity and volatility and this should place the BTC prices under even more pressure. This should benefit the ETH market and we should see it moving higher in the short and medium term as well.

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Cryptos Tip Toe into 2018

Bitcoin may have brought the cryptocurrency market to the mainstream investor, but the end of the year was far from stellar.

Through the weekend, Bitcoin failed to make a move back to $15,000 levels, with Friday’s downward trend persisting through to a weekend low of $12,050 before recovering on Sunday to a weekend high of $14,296.06.

In the early part of today, Bitcoin has been relatively range bound, down 0.82% to $13,765.53 at the time of writing, with an intraday low $13,302.02 and high of $13,941.75.

Recent support has come in the wake of some quite adverse news regarding the cryptomarket’s largest, by market share.

The South Korean government was ultimately the horror show for the Bitcoin bulls last week, with the banning of opening accounts anonymously along with the possibility of the government shutting down the cryptoexchanges two major news pieces of the week. There was also a ban on the trading of Bitcoin futures and the government was also looking to ban banks, foreigners and minors from trading Bitcoin. Following on, KB Kookmin and Shinhan banks announced that they will cease offering redemption of credit card points for Bitcoin by mid-month.

News of the North Korean’s hacking a Bitcoin exchange seems to have gotten the South Korean government into panic mode.

Bitcoin may be steady through the early part of the day, but there are plenty of unknowns surrounding the direction of Bitcoin in the coming weeks.

It will ultimately boil down to whether the South Korean government decides to shut down the exchanges and whether other major Bitcoin geographies will follow.

Certainly, if the concern is over North Korea, then Japan could be next. With Japan and South Korea amongst the top Bitcoin trading nations, the loss of one and / or both would be quite an event and something that Bitcoin will unlikely be able to sidestep.

With government chatter on the cryptos on hold today, there will be little damming news to impact the cryptomarkets, which will leave investors looking towards the future and how the cryptomarket landscape could change in the coming year.

Cboe’s Bitcoin futures are sitting in positive territory at the time of writing, with the January contract up $815 to $14,570. The move suggests that the institutional money is less concerned of a major shift in government sentiment towards Bitcoin that could result in the likes of the South Korean and Japanese governments shutting down the exchanges.

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For now, Bitcoin investors seem to be taking a more cautious approach at the start of the year and perhaps wisely, with more news from the South Korean government likely through the week.

We wouldn’t expect any major sell-off today, with futures prices providing some support. Trading volumes are on the lower side however, which is to be expected and that should prevent any rallies, with Bitcoin needing to catch up with its futures price before the cryptomarkets will consider what’s next.

Whatever is said about Bitcoin, it’s not been a bad year, with Bitcoin gaining 1,311% since the beginning of January last year. It may pale into insignificance when compared with the likes of Ripple, but if you’re looking at the equity markets, which many new cryptocurrencies will have been exposed to, the move across was to the cryptos was a wise one.

For Bitcoin’s peers, it’s been a better 1st January for Bitcoin Cash, Bitcoin Gold and Ethereum, though the gains have been minor and few are likely to be jumping in until the news feeds start getting busy with government chatter through the week.

At the start of 2017 things started pretty slowly for the cryptos and today is not too dissimilar, though following exponential gains last year, which crypto will be the trailblazer through the year will be the question on everyone’s minds and Ripple certainly looks to be the favourite amongst the front runners for now.

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

Bitcoin Steady Post Sell Off

Hopes of a sustained end of year rally fizzled out through the weekend, following Bitcoin Cash’s $2,888 high on Friday.

At the time of writing, Bitcoin Cash was up just 0.37% to $2,368 and that’s coming off the back of Bitcoin’s demise from an early Friday $15,474.19 to Sunday’s $12,050 low. Bitcoin has managed to recover to $13,687.29 at the time of writing, but is still down on the day, limiting any material upside for Bitcoin Cash.

With Bitcoin Cash having found strong support at around the $2,300 levels, the day ahead could be a tricky one should Bitcoin Cash fail to move back through to $2,400 levels in the early part of the day. A breakdown of $2,300 support levels could see Bitcoin Cash fall back to sub-$2,000 levels and from there the cryptomarkets could enter into some panic selling.

Volumes are on the lower side as the markets enter 2018 however, which could possibly limit any major declines through the course of the day, though we can expect the markets to wake up in catch up mode tomorrow.

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Bitcoin Cash Chart by Trading View

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Litecoin Continues to lag

Litecoin continues to trail its rivals this morning and, while up 0.99% to $229.41 at the time of writing, sits well below its December high of $420 and has certainly not looked like it’s going to be making a run for it any time soon.

Perhaps on the bright side for the Litecoin bulls is the fact that the Bitcoin clan has failed to move into another record breaking run, which would likely have resulted in Litecoin take a bigger hit.

As things stand, it’s still looking quite bearish for Litecoin and for any sustainable run, Litecoin will have to break through high-$230 levels, with any fall below $220 likely to lead to sub-$200 levels before support kicks in.

Volumes have been on the higher side, but with the likes of Ripple trailblazing through to the end of the year, interest is being drawn elsewhere.

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Litecoin Chart by Trading View

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Ripple on the back foot early on

Ripple ended the year with a bang, after hitting an all-time high of $2.48 on Saturday. Not only did the record run impress, but also took Ripple to number 2 in the rankings by market capitalization, overtaking Ethereum, which had enjoyed a lengthy run in 2nd place.

Ripple has been the talk of the town and with more than 7,000% gains in December alone, expectations are high for the currency going into 2018.

The Ripple bulls will be patting themselves on the back for betting on the right team, as will the Ripple team in establishing a playbook to ease volatility relative to its peers, through the use of escrows by the Ripple team. As with any currency, it’s all about supply and demand and by controlling the supply side, things have been on the up and up ever since.

At the time of writing, Ripple was down 0.05% to $1.989, recovering from an intraday low $1.92, with any break through to $2.00 likely to support another rally, with Ripple finding strong support at $1.90 levels for now.

Volumes are on the lower side through the early part of today, with the investors likely to be looking for direction before making any major moves.

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Ripple Chart by Trading View

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2017 – The Bitcoin Year, But not Only

Sitting in a coffee shop with a friend and hear a conversation about Bitcoin has become routine in 2017, part of the mainstream and perhaps the real normalization of the economy during 2017. Bitcoin made us forget that on January, the American people chose the most eccentric president in the history, Bitcoin made politics look small and insignificant and it made equities’ records high disappear in the shadow of Bitcoin mania.

Although relatively Bitcoin is still a small market and hasn’t received the corporate and governmental recognition, Bitcoin echoes are a result of the currency potential and what it represents.

Ironically, Bitcoin’s conversations, whether in a coffee shop or on computer screens are similar as one side stands for the acceptance of the new coin while the other one rejects the coin with the bubble argument and the fact that a digital currency system without a centralized control cannot work.

Still, it’s quite exciting to be part of history and Bitcoin is already history, Cliche but true, and that is one of the reasons why common people without any understanding of the crypto, economy and financial markets joined this phenomenon. Be part of something. Bitcoin will be taught in the future in universities, schools and TV programs whether it will be accepted as a legitimate payment method or will be discovered as the biggest bubble in history. Obviously, the next step would be to get it out of the mainstream, out of the bubble zone in order to be legitimized as a currency system. That way, the currency will no longer be an interesting conversation in a coffee shop or an exotic investment but a legitimate instrument that can transform the economic system. That’s a known social behavior, a cycle, and perhaps it will happen in the upcoming years.

Talking of bubbles, then, we all heard the comparison between the Bitcoin mania to the Tulipmania bubble back in the 16th century. The Tulipmania has been associated with us as an economic phenomenon that destroyed the economy and demolished people’s lives. However, there is growing evidence that the Tulipmania is more a myth than the actual reality.

Over the past years, some researchers revoked the myth: In 2006, the economist Earl Thompson published his research ‘The Tulipmania: Fact or Artifact’ claiming that the tulip mania bubble is mostly fiction as the spot prices (these are the actual prices) were stable and option prices rose exponentially. Researchers claim that there are no actual stories in the archives about people that were involved in the Tulipmania bubble and lost their possession. For us, we can say that we have seen an irrational increase in prices of Bitcoin and other cryptos. So far, only good stories. Bubble or not, you name it.

Bitcoinism?

As a matter of fact, cryptocurrencies and in particular Bitcoin sparked a new conversation and that is the biggest achievement of Satoshi Nakamoto (or whoever it is that created cryptos). The common man knows for years that only a country or a governmental entity can issue a currency. It is a country responsibility to back up a currency, and so far it has been done with a natural resource such as gold. Maybe you noticed that in many paper bills there is an agreement by the government to preserve the value of money for the citizens that will use the currency.

You don’t have that in Bitcoin. Any economical obstacle, recession, inflation, deflation, you name it – you can’t complain about it. No one promises you that. Decentralized, for better or worse.

The attempt to form one single currency for the world was not a revolutionary idea that popped up suddenly, some might say it is a master plan to better control the economy. Personally, those things make me know how little I know. Bitcoin was rising from the underground movement of Anarchism, opposing the authorities and the financial system, or maybe not…

However, instead of one currency, there are currently over 1324 cryptocurrencies and the number is growing. It is unfinished business and someone must organize this industry. Even though some will convince you it’s the best investment, it is not yet a reliable economic system or currency.

Blockchain, the technology that activates Bitcoin, is the invention that one can no longer ignore. There are many inventions that changed the world but also were rejected at the time of birth. Light bulbs, umbrellas, the telephone, typing machines, taxis, computers, coffee, and the toilet seat cover are all necessary for our basic life but were rejected by some people at some point of time. On the other side, some inventions stormed the world at the time of release but vanished and did not have any effect. Bitcoin and cryptocurrencies are still on the scale of acceptance. Blockchain, on the other hand, officially received its recognition in 2017.

The truth is that no one knows the future of Bitcoin, cryptocurrencies and the economy in general. The economy that forms our daily life is relatively new and probably not the best economic system. Bitcoin is mysterious and mysterious attracts the attention, headlines, central bankers’ comments, and money.

Bitcoin is a statement, an alternative to the current economic system that controls our life. It’s not the price that matters but the idea. The price is just a reflection of the global public opinion towards the economic system. If everyone was happy with the system, no one would really buy a digital, with no physical qualities coin. You buy Bitcoin, you buy an idea.

2017 is without a doubt the year of Bitcoin. And Blockchain and ICO’s and Ethereum and Ripple and Litecoin and Bitcoin Cash and Bitcoin Gold and IOTA… All cryptos’ prices are speculative, volatile and unreliable but also reflect people’s excitement of a new market and a new system. The upcoming year will be crucial for Bitcoin and cryptocurrencies. It broke the first step of entering the mainstream and coffee shops conversations, now it’s time to pay for a cup of coffee with Bitcoin or other cryptos. That’s the next step and only time will tell how Bitcoin and cryptocurrencies face it.

How to Buy Cardano (ADA): The Complete Guide

Cardano: Intelligent Design

Economic history has countless examples of ideas that were carried to their full potential by the second or third attempt at the concept. Sometimes the newcomer causes the initial leader to be all but forgotten like the internal combustion engine did to steam power. The leadership at Cardano seems to have a sense of this economic history.

What is Cardano? What is ADA?

Cardano is a blockchain environment. This means it is a public network available to anyone who wants to create a blockchain. ADA is the cryptocurrency that is used to pay the individuals who contribute to the Cardano environment by storing the blockchains and performing other functions. The success of one is clearly related to the success of the other.

If Cardano becomes a popular place for new blockchain developers, the demand for the ADA cryptocurrency will increase. Increasing demand with a relatively fixed supply increases the market price. If the price of ADA increases for any reason, this should attract more developers to the Cardano environment. There are reasons to feel confident that both parts of this system are contributing to the long-term success and value of the other part.

Why did the Cardano (ADA) Price Surge?

ADA had a very quiet and unassuming entry into the cryptocurrency market with a long-running Initial Coin Offering (ICO) that ended in January 2017. It maintained a low price for most of the year, getting a boost from announcements by the team at Cardano in late November and then a second, stronger surge in value in late December.

Cardano Daily Chart
Cardano Daily Chart

This remarkable increase may be due to nothing more than the listing of ADA on more cryptocurrency trading platforms. It may be caused by investors moving out of Bitcoin and into other cryptocurrencies that have caught their attention. If this is the case it is a simply a delayed continuation of the increase in late November.

How to Buy ADA (Cardano)? – A Step-by-Step Guide

The entire cryptocurrency market sometimes can seem like it is in its infancy at times. This is the case with the process of buying ADA. The first step is to create a Daedalus Wallet. It will also be necessary to establish an account at a cryptocurrency exchange.

Once these two accounts are established, the basic process is to buy or transfer Bitcoin to the exchange, exchange the Bitcoin for ADA, and then transfer the ADA cryptocurrency back to the Daedalus Wallet. It is extremely important not to leave any cryptocurrencies in the account at the exchange. These have been shown to be vulnerable to theft.

Step 1 – Create a Daedalus Wallet

Download the wallet by selecting the type of wallet that works on your computer (Windows or Mac). A Linux wallet is promised for the future. After downloading the correct wallet, install it on your computer by running the program.

Select the appropriate language and “continue”. Read the terms of use, click the box that indicates you have done this and “continue”. Decide if you want to send logs to Cardano about the use of your wallet by selecting the appropriate box. Be patient while your wallet is connected to the Cardano blockchain. This may take ½ hour or more.

Once the connection is established, choose “Create a new wallet” and give the wallet a name you will remember. Select “Activate to create password”, then enter a password that meets the specified criteria. Re-enter the password in the second box and “create personal wallet”.

Confirm that no one is watching your screen and you will be given a 12-word passphrase. Write this down and keep it in a very secure place, then select “Yes, I have written it down.” Recreate the passphrase, and then read the two warnings.  Check that you understand them and “confirm”.

Your wallet is now open. Click “receive” and you will be provided with your wallet’s address. As with the passphrase, write this down and keep it in a safe place.

Step 2 – Purchase Bitcoin or Ethereum

You now need to buy some Bitcoin or Ethereum to exchange for ADA (we recommend buying Ethereum as the process time is faster). At the time of this writing, no exchange supports buying ADA for national fiat currency, but the market is extremely fluid, and this may have changed. If so, it will still be necessary to establish an account at that exchange.

There are many exchanges that allow the purchase of Bitcoin or Ethereum for national currencies. They offer a variety of features, including ease of use and security. In addition, the cost of purchasing Bitcoin or Ethereum changes frequently, so it is impossible to identify a “best” option for this step. Coinbase, CEX.IO and Coinmama are popular options, and this guide will describe the process of creating an account to purchase Bitcoin but it’s the same as Ethereum. If you already own Bitcoin or Ether, this step is unnecessary. You can move forward to the next section.

After using the link to go to CoinbaseCEX.IO or Coinmama, select “Sign up” and enter your personal information. Those exchanges treat client identification very seriously, so be sure to verify your account by supplying a phone number, uploading an image of your photo ID and verifying a credit/debit card or bank account.

After completing these steps, select “Buy/Sell” at the top menu. Select “Bitcoin” and enter either the number of coins or the amount you want to spend. Bitcoin can be purchased in fractional units and the system will do the math for set amounts of local currency. Verify the information you have entered and “Buy”, and then “Confirm buy.”

Step 3 – Exchange Bitcoin for ADA

Now go to an exchange such as Binance to exchange your Bitcoin for ADA. First, enter Binance and open an account, verify the account in the email you received. Then, you need to fund your account with BTC or ETH that you have purchased before at one of the exchanges above. In order to do that, click the “Funds” tab and search for BTC or ETH, choose “deposit”, copy the BTC or ETH deposit address and paste it to the exchange that you withdraw the money from. The process might take up to one hour (vary according to different exchanges).

Now, after completing these steps, you have Bitcoin or Ethereum in your Binance account. Click the “exchanges” and search for ADA/BTC or ETH/ADA, enter the amount and click “Buy ADA”.

Alternatively, Coinswitch is an aggregator, which means that it surveys the market for you and returns suggestions on the best exchange rates available. In addition, this site automatically transfers your newly acquired ADA coins to your Daedalus Wallet, eliminating the dangerous possibility of leaving your coins on the exchange.

Choose “Register” in the upper right corner of the Coinswitch website, then enter your email and a new password. While you are waiting for the email, complete the personal information, including the phone verification. After you have received the verification email, click on the embedded link, re-enter your email address and password.

On the site, select Bitcoin on the left, entering the number of coins you have and the ADA on the right. Coinswitch will return with a recommended exchange as well as a listing of other exchanges. Make your selection and you will be prompted for the address of your Daedalus Wallet. Enter that information and you will be given an address to which you should send your Bitcoin.

Copy that address and return to the site or wallet that has your Bitcoin, such as Coinbase. Enter the address you were given by the Coinswitch site and transfer the Bitcoin to that address. Once the transfer is complete the selected exchange will initiate the conversion to ADA and transfer them to your new Daedalus Wallet.

Return to that site and verify the coins have been transferred. You may need to update or enter additional information to view the balance.

Cardano Opportunities

The process currently required to purchase ADA demonstrates the opportunity Cardano sees in the cryptocurrency marketplace. It is still in a technical infancy, with involved steps for every transaction. In many ways, it is similar to the early automotive industry before the invention of the electric starter and other modern conveniences.

Cardano hopes to advance the industry in much the same way. For example, they plan on providing the Daedalus Wallet with the capability of storing multiple cryptocurrencies instead of just ADA. They also are the process of creating user-friendly addresses for transferring cryptocurrencies. These are just two of the projects underway at the company.

Cardano Challenges

The number of projects undertaken and their ambitious scope is only two of the challenges Cardano faces in establishing itself as the preeminent blockchain in the market. In addition, it must overcome other blockchain environments that have become established in this sector while Cardano was in development.

The academics working on the projects have impressive backgrounds and credentials, but Cardano must harness this intellectual capacity in a productive direction. The long development time suggests there may be problems in this area. Furthermore, the company must bridge the gap between the philosophical stance of blockchain purists and the practical concerns with producing measurable results.


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Is Cardano the Big Next Thing?

Investors buying ADA are undoubtedly hoping they now own “the next Bitcoin”.  They have reasons for this optimism beyond the price surge. The management team at Cardano is incredibly experienced in blockchain technology, and they are attracting some of the brightest minds in the academic world. In addition, they are taking a thoughtful approach to developing what they hope to be the blockchain environment of the future.

However, “the future” for cryptocurrency investors may mean a much shorter period of time. It is uncertain if the buyers who drove up the price of ADA did research into the fundamental value of the cryptocurrency or if they just saw the increase in November and created the increase in December. This is the nature of financial markets as they develop. Value and speculation combine in different measures at different times to impact market price.

Cardano is More than a Cryptocurrency

Keep in mind that Cardano has a long-term value proposition that is dependent on accomplishing some very ambitious goals. While the organization has many of the hallmarks of a successful enterprise, they have little to show so far in terms of actual accomplishments. In this sense, any investment in ADA could be considered speculative because there is no assurance that the company will achieve its goals.

Before getting into the specifics of what they hope to do, it is important to discuss their philosophical basis. This is firmly rooted in the concept of decentralized control by the entire community. Cardano states clearly that their control and decision-making authority is intended to be temporary. Their vision includes developing mechanisms by which all decisions are made by those who use and support the blockchain.

Cardano is Testing a Philosophy

Decentralized control of the blockchain environment is a core premise of the blockchain concept. Some critics of Ripple contend that it is not a blockchain application because it lacks this component.  Satoshi Nakamoto, the pseudonym for the founder of Bitcoin, advocated for a decision-making process that includes the entire community as a way to eliminate governmental decisions that benefitted one class of society rather than the common good.

Bitcoin was an attempt to implement this philosophy over the Internet, but it ran into problems that could not be addressed by the initial rules of the blockchain.  Nakamoto’s solution to these problems was to allow the blockchain to split into two in what is referred to as a “hard fork”. This process has created Bitcoin Cash and other cryptocurrencies under the Bitcoin “name brand”.

Cardano Anticipates Problems

The management team at Cardano includes individuals who experienced the hard fork at Ethereum, another blockchain environment. This split in the blockchain was caused by an inappropriate application of the rules which most people would characterize as a theft. The individuals who felt that the blockchain should not be changed in spite of this unforeseen circumstance are now creating Cardano.

They’ve learned from the experience. The structure of Cardano includes elements that provide for changes without splitting the blockchain. This may prove to create a more stable and manageable blockchain. If so, the Cardano blockchain may be able to gain greater acceptance and use than other blockchains already in existence.

Cardano – The Exchange of Smart Contracts

One of the other areas where Cardano is trying to make progress is smart contracts.  These are self-executing agreements between two parties that have the potential to revolutionize transactions. Proponents of smart contracts believe that they will eliminate the need for lawyers, accountants and other professionals who oversee the executions of contractual agreements.

Smart contracts are written into the blockchain and cannot be changed without altering the blockchain. Once the conditions of the smart contract are satisfied the contract is automatically executed. The Bitcoin blockchain includes only the most basic types of smart contracts that mimic the use of other currencies.  Cardano wants to improve on that functionality.

Cardano vs. Ethereum – Why Cardano is Better than Ethereum?

More flexible smart contracts are one of the features of the Ethereum blockchain environment.  Ethereum is also a public blockchain that can be used by developers of other blockchains. It offers smart contracts that can mimic any transaction that can be done in the physical world. These are referred to as Turing-complete contracts.

Although some commentators question the expense of maintaining this level of functionality on a public blockchain, Cardano seeks to offer something even better. They represent their programming as better able to tolerate errors in coding. They have also promised to make segments of coding available to anyone to make Cardano smart contracts easier to use.

The Daedalus Wallet

This sums up one the main value propositions for Cardano. They want to make blockchain easier for everyone to use. This is a very common, and commonly successful, for late entrants into a developing field. The cryptocurrency wallet from Cardano is a great example of this idea.

It is necessary to have a Daedalus wallet to buy or use ADA. It can be downloaded from their website free of charge and promises to add features that will make a universal wallet suitable for any cryptocurrency use. One of the upcoming features touted is protection against quantum computer theft, even though quantum computers are still in their infancy.

Conclusion

Cardano certainly has the intellectual capabilities necessary to tackle the next generation of blockchain issues. It also has the experienced leadership that is required to manage such a monumental undertaking. There can be little doubt that the ideas it is pursuing would be well received by blockchain users.

The risk is that development time will stretch out past the patience of investors and that the final delivered product will not be able to differentiate itself successfully from other options already in operation. Given these factors, those buying ADA may want to prepare themselves for a long wait before they realize the full potential value of the cryptocurrency.

Trump, Brexit, North Korea-US Threat, and Bitcoin – 2017 Market Summary

President Trump

President Trump took a lot of heat during 2017, mostly because of his conduct and personality. Additionally, several critics focused on his failure to pass important bills, the number of regulations slashed and executive orders signed and whether he kept his campaign promises. From a financial market standpoint, however, investors can’t deny he’s been a positive influence on the markets.

Whether you want to give him credit or not, the stock market as measured by the Dow Jones Industrial Average finished up more than 5000 points since he took office. Additionally, gross domestic product growth was 3.3% in the third quarter (a strong performance when compared to President Obama’s barely 2.0% annual performance).

Additionally, with his help, the Republican-led House of Representatives and Senate, passed the most sweeping tax overhaul bill in 30 years. This bill could lead to further economic growth in 2018 because it slashed the corporate tax rate by 14% and will give most Americans, over a few years, a bump in their paycheck.

Brexit

After a few stops and starts early in the year, negotiations on Britain’s exit from the European Union finally started making progress in late November. Earlier in the year, U.K. Prime Minister started the ball rolling on Brexit when on March 29, she signed the letter that formally began the U.K.’s departure from the European Union.

In September, in a speech in Florence, May said that the U.K. will honour its financial commitments to the European Union while seeking a two-year transition period. She also reiterated the Government’s stance that the U.K. will be leaving the single market and customs union.

In early December, the U.K. and the European Union reached a significant milestone in their pursuit of a Brexit deal, breaking a deadlock that allows talks to move on to a crucial second phase.

The year ended with conflicting feeling about the progress being made on Brexit with PM Theresa May saying the Brexit deal is “good news” for all voters but some politicians saying that she is making a total mess of Brexit.

North Korea-US Threat

Throughout 2017, North Korea conducted a series of ballistic missile tests, despite constant criticism from the U.S. as well as additional trade sanctions. Making progress with each ballistic test, North Korea, on November 29 successfully tested a new type of intercontinental ballistic missile, topped with a “super-large heavy warhead,” which is capable of striking the U.S. mainland.

The initial ballistic tests triggered a flight to safety rallies in gold and the Japanese Yen while encouraging the selling of higher-yielding assets. With each successive test, however, the market’s response became increasingly diminished.

The year came to an end with the UN Security Council responding by adopting a new set of severe US-drafted sanctions. North Korea called those sanctions “an act of war” and said the U.S. and other nations that supported the strict restrictions will pay a heavy price.

At the end of the year, North Korea said it will remain committed to the country’s nuclear development in 2018, according to a report released on December 30 by state-run news agency KCNA.

“Do not expect any change in its policy,” the report read.

Bitcoin

The popular cryptocurrency Bitcoin began the year with a price of just under $1,000, by December it had reached a speculative-led high of nearly $20,000. Throughout the year, critics of Bitcoin voiced negative opinions about the coin with several calling it a “bubble”. One critic, billionaire Mark Cuban stated the Bitcoin is a bubble that would collapse but still backed blockchain technology, stating it would be the future.

Despite many negative events throughout the year including tough regulations by the Chinese Government, numerous hacks and exchange glitches, Bitcoin was finally recognized by the financial community when futures trading on the Bitcoin began in December. Despite its popularity among speculators, Bitcoin will begin 2018 facing competition from several other popular cryptocurrencies.

2017 ICO Highlights – Best ICOs and What to Expect in 2018

The cryptocurrency market was on the ropes on Crypto Black Friday, with Bitcoin and the clan tanking through the morning session before stabilizing. The crypto world was perhaps sitting on the edge of their seats pondering whether fundraising was about to go old school once more and whether there would be any future in the ICO markets.

The good news, for now, is that it’s all ok and, as has been the case on other infamous days where the markets have crashed, the recovery perhaps supports the more optimistic view that this may all be more than a bubble.

Looking back at the year, it was a spectacular one for cryptocurrency investors and for the ICO market that continues to grow alongside the number of cryptocurrencies that are now in excess of 1,300. The year certainly shouldn’t be marred by Crypto Black Friday.


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So turning to the ICO Market, there were some particularly successful fundraising campaigns. The most successful being:

Filecoin

Filecoin Group raised funds through both the ICO market and via the old school venture capitalists, with a total of $257m raised in the ICO market and in excess of $50m from the venture capital companies. Filecoin is a decentralized cloud storage network that records and stores data on a P2P platform. Filecoin’s ICO was the first SEC compliant ICO in the U.S, with only accredited investors allowed to invest. The successful ICO could well be attributed to the fact that the group had raised the more than $50m from leading blockchain venture capitalists prior to the ICO.

Tezos

The team behind the project raised in excess of $232m in the summer. The goal of the project is to deliver a self-amending decentralized ledger that is capable of creating smart contracts. The theory is that the Tezos blockchain will be able to adapt to any future technological advancements. Token holders will be involved in the approval and funding process for the new protocol. This may have been the 2nd most successful ICO of the year, but the team is currently facing legal action, with investors looking to have funds returned. Tezos tokens that were sold as securities were allegedly never registered. Perhaps one cryptocurrency to avoid until the dust settles…

EOS

Block.one, the team behind EOS, raised $185m in the summer. The EOS project is to develop its next-generation scalable smart contracts platform. EOS is software that introduces a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications. The technology has the potential to scale to millions of transactions per second, eliminate user fees and allow for quick and easy deployment of decentralized applications. The ICO was launched in June and runs for 341 days.

Other notable ICOs included Bancor, which raised $153m, The DAO that raised $152m and Status, which drew in $108m of investment.

Going into 2018, the ICO calendar is looking on the busier side, with notable ICOs including:

Cypherium

Cypherium is looking to address blockchain technology’s key issues, including scalability while also making the blockchain network permissionless. There will be no fixed block size and no minimum fees for smart contract execution.

Loci

The team’s goal is to change the way the world invents and values ideas, by democratizing the invention process to become the gold standard platform that empowers innovators and promotes the effective crowdsourcing of R&D. Loci intend the result will be to remove the lengthy and expensive patent application process that inventors currently face.

Rentberry

Rentberry offers users a fully operational long-term rental platform, leveraging on blockchain tech to ensure a seamless rental experience. The platform will allow for crowdsourcing to help tenants unfreeze millions of dollars tied up in rental security deposits. The Rentberry community will essentially fund tenants’ security deposits in return for rewards.

Other ICOs that are worth mentioning include Coinlancer; Telcoin; NAU and Experty, though there are many more.

The market is growing and it’s growing rapidly. According to ICOData over $5bn was raised year-to-date in 2017, through 739 ICOs. 2018 is going to be even bigger as institutional money, flowing into the cryptomarket, gathers pace. When considering the fact that in 2016 total funds raised through ICOs was less than $300m, actual numbers varying depending upon the source, that’s quite a leap.

ETH/USD Forecast for the Week of January 2, 2018, Technical Analysis

The Ethereum markets rallied slightly during the week, but it was in a very thin market obviously as we are between 2 major holidays. I think that we should continue to see massive amounts of volatility in this market, so I like the idea of buying pullbacks, with the assumption that the $500 level will offer massive support. It was a significant break out to the upside, so it makes sense that we would see the buyers interested in that area, especially considering how much volume we saw at that region. Ultimately, I think that we are going to go looking towards the $1000 level, but it’s going to take a while to get there. I suspect that most of the crypto currency markets are overbought as well, so it’s only a matter of time before we see some type of corrective move. Corrective moves should not scare you though, they should be an opportunity to pick up value in what is obviously a very strong bullish market.

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ETH/USD Video 02.01.18

It’s not until we break down below the $400 level that I can be concerned about Ethereum, and I think that the $1000 level is a bit of a self-fulfilling prophecy in this market, and I think that the traders will continue to push towards the upside. However, if you are an investor or at least a savvy traitor, you need to find value, not premium. Adding on the dips continues to be the best way to go forward, as we can build up a larger position and take advantage of what I think it’s going to be a very strong uptrend going into 2018.

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ETH/USD weekly chart, January 02, 2017
ETH/USD weekly chart, January 02, 2017

Bitcoin Gold DASH and Monero forecast for the week of January 2, 2018, Technical Analysis

Bitcoin Gold

Bitcoin Gold had a very choppy and undecided week. The previous week formed a massive shooting star which of course concerns me, and I think at this point it’s likely we made visit the $200 level underneath. That’s an area that should be supportive, and I think we could find buyers in that area. I also recognize that the $300 level above as massive resistance, so I think it’s could be difficult to trade this market from the longer-term, unless of course you look for short-term dips to buy-and-hold, but you need to be able to deal with what is going to be very choppy market.

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BTG/USD weekly chart, January 02, 2017
BTG/USD weekly chart, January 02, 2017

DASH

DASH had a back and forth week during the last several sessions as well, forming a neutral candle. It looks as if the area around $1000 underneath is going to continue to be supportive, just as the $1200 level above is going to be resistance. If we can break above the top of the candle, that would be very bullish, but the previous candle was a massive shooting star, so I think we are probably going to see a reasonable pullback that we can take advantage of. I would be interested in buying nearly $800 level, if not the $600 level from a longer-term standpoint. Short-term trading of course is a different story, but at the end of the day I think that this market is in a bullish trend, so therefore I prefer to buy at value levels.

DASH/USD weekly chart, January 02, 2017
DASH/USD weekly chart, January 02, 2017

Monero

The Monero markets were very quiet during the week, reaching above the $400 level, but then pulled back a bit. The $300 level underneath continues to be support, but as you can see from the previous candle, we had dipped to the $150 level underneath. I think that the market could revisit that level without much in the way of concern. Dips offer buying opportunities, giving us an opportunity to pick up value and hang on to the trade for the longer-term. I believe that Monero will eventually go looking towards the $500 handle above, especially once the significant volume returns to the market.

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Monero/USD weekly Chart, January 02, 2017
Monero/USD weekly Chart, January 02, 2017

BTC/USD Forecast for the Week of January 2, 2018, Technical Analysis

Bitcoin markets went back and forth during the course of the week, but by the time I am recording this late on Friday, we have formed a shooting star like the candle, and that could send the market lower. It doesn’t really matter to me because I believe that the market is overbought anyway, and a pullback is probably going to be rather necessary. We have given back about 25% of the market, but I think we need to drop even further, and I would love to see this market go towards the $10,000 level. I think that most institutional traders feel the same way, so I would anticipate that there is a lot of interest in going long at lower levels. I suspect that the $10,000 level being broken has made this market a bit of a mania just waiting to happen, but eventually markets to calm down. When I look at this chart, I would be very hesitant to start buying, based upon the fact that I feel like I would be “paying up.” I don’t like doing that, it’s a great way to lose money.

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BTC/USD Video 02.01.18

If we were to break down below the $10,000 level, the market should then go to the $8000 region, which is the 61.8% Fibonacci retracement level, which would be very attractive to buyers around the world. If we break down below the $8000 level, then I think the market comes unwound that we go much lower. I believe that the $20,000 level above is the ultimate target, but I just can’t be comfortable buying the market at these lofty levels for an investment. A short-term trade possibly, but to “buy-and-hold”, it would be a bit too much for me to risk. If we were to somehow break above the $20,000 level, the market is likely to go much higher, but I make no bones about it: I believe that eventually, Bitcoin will collapse as it is one of the least efficient cryptocurrencies. We are a long way from that happening though.

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BTC/USD weekly chart, January 02, 2017
BTC/USD weekly chart, January 02, 2017

ETH/USD Price Forecast January 2, 2018, Technical Analysis

Ethereum markets continue to be very noisy, and I believe that we are looking at a situation where we continue to jump to the upside, as the 20 SMA on the Bollinger Band indicator looks likely to offer support on the hourly chart, and even if we don’t hold that level, I think that the $700 level is likely to offer support as well. Ultimately, I believe that the buyers will return, but it’s likely that we will find that the markets are going to be very noisy as traders are not jumping in with both feet right now. Longer-term, I believe that the $800 level will be a target, and I believe that eventually we go beyond there and even reach towards the $1000 handle.

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ETH/USD Video 02.01.18

Rallies that occur over the next several weeks I think will find buyers every time the pullback, as they typically will do. There is a certain amount of ebb and flow to the marketplace, but I think it’s a market that has a significant amount of noise attached to it, and of course the crypto currency space is starting to attract a lot of attention in general. However, most of that attention is on Bitcoin, and I think that Ethereum is playing 2nd fiddle. Eventually though, I think but he goes looking towards Ethereum as Bitcoin has gotten a bit overheated, and I think that might be the story of 2018. Buying on the dips continues to be the best way to play this market, but I recognize that a significant pullback certainly can happen occasionally, so add slowly.

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ETH/USD daily chart, January 02, 2018
ETH/USD daily chart, January 02, 2018