Golem (GNT) is up 7% for the day while the rest of the market bleeds. Normally, this would not be a big deal but the chart above for GNT/USD on the weekly time frame shows us exactly why it is a big deal this time. RSI for GNT/USD peaked around January 2018 as shown on the chart. Since then, it has been on a steady decline trading in a falling wedge. After an extensive correction of nine months, RSI for GNT/USD has finally broken out of this falling wedge to the upside.
Venture capitalist and famous cryptocurrency supporter Tim Draper exposed his prognostic on the cryptocurrency market at the DealStreetAsia PE-VC Summit in Singapore last Wednesday, when he predicted that it will rebound to $ 80 trillion within 15 years.
The famous investor thinks that blockchain and cryptocurrencies are “going to have such a transformative effect on industries that we never even imagined would be transformable.”
Like many investors before him, Draper compares the potential of this industry to the internet boom back in the 1990s. The internet, in return, was compared to the telegraph, the railroad, and the automobile industries at its time. No one thought that industries as diverse as agriculture, for example, would embrace the internet.
The promoter of crypto John McAfee is still positive in the strength of globes top leading cryptocurrency, Bitcoin. He thinks that the coin deserves to be crowned as the number one virtual asset in the crypto space.
John McAfee is a member of the CoinsBank Blockchain Cruise and when speaking to AMBCrypto, he said that Bitcoin is the only leader in its ecosystem. However, he did argue with those who claim about the coins nature as a P2P digital cash protocol.
Litecoin (LTC) has officially revamped its website, Litecoin.com, as part of an effort to reach a broader audience of users, including individual investors, developers and businesses. Check out https://t.co/W2JEVKaGMe! https://t.co/Vvk11OkR5G — litecoin (@litecoin) September 5, 2018 According to the accompanying announcement, the Litecoin team has worked to simplify the website, which they aim to make the […]
There is never a boring day in the world of cryptocurrencies. Despite overwhelming bearish momentum over the past few days, the momentum is turning rather positive again. For the NEO price, gains in both USD and BTC departments are a welcome sight. Combined with ongoing community developments, the coming months can become rather interesting for this altcoin.
NEO Price Makes Another Move
Recovering from a setback in the cryptocurrency industry is always challenging. With Bitcoin showing bullish momentum prior to the weekend, most altcoins are following suit. There is still a sense of uneasiness among enthusiasts, as caution remains advised at this stage. For NEO price watchers, the momentum is turning bullish. A value of $ 20 is well within reach at this stage.
The total market capitalization of cryptocurrencies is currently $ 225 billion led by Bitcoin (BTC: $ 7,000) at $ 120 billion. ICO advisory firm Satis Group is forecasting an extremely bullish trend for cryptos over the next 5 to 10 years in an Aug. 30 report: “CryptoAsset Market Coverage Initiation: Valuation.”
The firm expects cryptoassets to reach $ 500 billion next year and expand to $ 3.6 trillion by 2028. Satis also expects massive gains for privacy coins such as Bitcoin, Monero, ZCash and Dash.
Two months after its mainnet launched, daily transactions on the TRON (TRX) network have hit nearly half of the total volume on the Ethereum (ETH) network. Looking at the TRON transaction data for the last 14 days shows that the total daily transactions recently peaked at 416,497 on August 19 but has since dropped to […]
Bitcoin (BTC) is now at a critical point as Bitcoin Shorts reach all time high as can be seen on the daily chart above for BTCUSDShorts. The last time the number of shorts for Bitcoin (BTC) was this high, we witnessed a massive short squeeze which liquidated a large number of short positions and hurt the bears badly. Before the massive short squeeze there was a 50.79% rally after a red candle in April 2017 for Bitcoin Shorts as can be seen on the chart above.
At press time, the price of everyone’s favorite cryptocurrency remains unchanged. Bitcoin is still trading in the $ 6,400 range and hasn’t moved from this spot for the past few days.
The word is out that bitcoin isn’t likely to reach the $ 10,000 mark by the end of the year. This goes against everything many analysts, including Fundstrat’s main bitcoin bull Tom Lee, have been saying for the past several months.
There is still plenty of red across all cryptocurrency charts as of right now. It is a rather worrisome outlook for anyone who expects the markets to recover soon. Although Bitcoin is still slightly in the green, other currencies are not faring so well. The EOS price, for example, still struggles to breach the $ 5 resistance level.
Billionaire investor Marc Lasry predicts that Bitcoin could go as high as $ 40,000 in a few years. Lasry believes rising adoption will make the top-ranked cryptocurrency easier to trade thus causing the price to skyrocket.
Mainstream Adoption will Catapult the Price of Bitcoin
According to Lasry, Bitcoin is poised to see an increase in utility in the coming years and more people warm up to the emerging asset class. Speaking to CNBC, the Avenue Capital Group chief said:
As it gets more into the mainstream, and as more markets end up allowing it to trade where it’s freely tradable, to me that’s more of the bet.
Tom Lee has cut his year-end prediction for Bitcoin by 20 percent — but still thinks the first and foremost cryptocurrency will top $ 20,000 per coin in 2018.
‘Or Something Like That’
Tom Lee had previously held strong on his prediction that Bitcoin 00 would reach a new all-time high of $ 25,000 by the end of 2018. Now, the only Wall Street strategist to make concrete Bitcoin predictions is scaling back his expectations — but only slightly.
The co-founder of Fundstrat Global Advisor told CNBC’s “Squawk Box”:
A new research report published by MarketsandMarkets™ has found that the Blockchain-as-a-Service market is expected to grow from USD 623.0 million in 2018 to USD 15,455 million by 2023, at a Compound Annual Growth Rate (CAGR) of 90.1% during the forecast period. Among the key factors driving the growth for this period will be the low cost of bandwidth, data storage, computing, the need to lower risks and complexities, and increase efficiency.
Another day of cryptocurrency trading is upon us. Even though things started to look a bit worrisome last night, there is apparently nothing to worry about whatsoever. The Bitcoin Cash price further confirms things are looking pretty solid when keeping the bigger picture in mind. As of right now, one BCH is valued at nearly $ 1,400.
Using publicly available sources, Satis Group LLC classified initial coin offerings (ICOs) with market capitalizations of at least 50 million USD by quality, following an ICO’s evolution from white paper, fundraising, to eventual trading online. Their findings include the eye-popping claim that 80% of ICO’s are scams, and only 8% managed to trade on a exchange.
Study Claims 80% of ICOs are Scams
New York-based Satis Group LLC, formed from the ashes of The Argon Group firings last year, bills itself as a “premier ICO advisory firm.” Researchers Sherwin Dowlat and Michael Hodapp published a novel way to classify and rank ICOs titled, ICO Quality: Development & Trading.
As we have almost grown accustomed to these days, the cryptocurrency markets are still in a state of flux right now. All major currencies have lost value over the past 24 hours, although the NEM price continues to note some positive momentum. More specifically, the NEM price is up by another 8.7% over the past 24 hours.
Even though some people may still doubt it to be the case, the cryptocurrency markets are not out of the woods just yet. Even though we have seen multiple steep corrections this year already, there’s no reason to think things will only get better from here on out. If the NEM price is any indication, though, things will get rather interesting in the days to come.
ALAX’s token-based technology will provide access to tens of millions of ‘unbanked’ customers worldwide. ALAX TGE set to commence on April 17th, 2018, with the platform scheduled to be available immediately following its conclusion.
Hong Kong, February 22nd, 2018 – ALAX, a new venture between blockchain technology company DECENT and games distribution platform Dragonfly, has today released a white paper outlining further details of its token structure and confirming that it’s TGE will commence on April 17th, 2018.
A number of intended partnerships are set to be announced in the coming days, which will see the platform preinstalled on millions of smartphones, particularly in the fast-growing South-East Asian and South Asian mobile markets.