Bitcoin (BTC) Bulls Likely To Shatter $10,000 As Libra, Institutions Fuel Price Rally

Bitcoin (BTC) Bulls Likely To Shatter $10,000 As Libra, Institutions Fuel Price Rally

Today’s Bitcoin (BTC) News

It is increasingly becoming clear that Bitcoin’s metamorphosis places the world’s most valuable coin as a settlement layer. Bitcoin is a reliable platform from where users can  transmit value across geographical boundaries without denting their pockets as they would through legacy financial institutions.

This no doubt is a game changer and as BTC continues with its rapid climb, external tailwinds from Facebook’s announcement of Libra, could see additional gains over the weekend. That is a boost and considering what’s on the table, the stakes are high.

If anything, Facebook is keen on creating a circular economy. Taking advantage of their solid and extensive user base, Libra will approve and introduce to the world, cryptocurrencies which are border-less and global.

At a vantage position will be BTC with its mega valuation, dominating both in transaction volumes and hype. Besides, coupled with next year’s halving and even the possibility of the US SEC finally approving a Bitcoin ETF allowing for institutional investment subject to better monitoring tools, BTC could soar to new highs surpassing the peaks of 2017.

That, for the skeptics, is far-fetched, a pipe dream. However, supporters are overly optimistic of future prospects. A mark of grit has to do with the resilience of prices in the face of FUD and institutions beginning to sit up and understand how disruptive BTC and cryptocurrencies can be disruptive.

With infrastructure through better monitoring and custodial options, there are more participants in the market keen on safeguarding the network’s integrity. To that end, Bitcoin’s hash rate spiked to new all-time highs on June 19, racing past the 60TH/s level to 65 TH/s.

BTC/USD Price Analysis

Bitcoin BTC

Bitcoin BTC

At the time of press, BTC is changing hands at $9,886 across major exchanges and 19 percent higher from last week’s close. In the past 24 hours, the coin is up 6.1 percent and less than $50 away from the psychological round number at $10,000.

This level, according to Tom Lee, is a FOMO level whose breach could see unprecedented demand lifting BTC to $15,000 and even $20,000 in short bursts. And candlestick arrangements are supportive of this assessment.

Within a bullish breakout pattern following the rally above $8,500 and May highs of $9,100, there is opportunity for traders to ramp up on dips as long as prices are banding along the upper BB and firm above $9,100 or May 2019 highs.

As aforementioned, any rally past $10,000 should ideally be with at the back of high trading volumes exceeding 31k of May 30th or even 47k of May 14th as the bear divergence pattern is corrected. Such a surge in participation lifting prices above $10,000 will confirm buyers of April and May forming the foundation for new 2019 highs ahead of 2020’s event-filled calendar.

All of Today’s Bitcoin Price Analysis, Chart Forecasts and Industry News


Chart courtesy of Trading View—Coinbase

Disclaimer: Views and opinions expressed are those of the author and is NOT investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

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Author: Dalmas N

Developers Endorse Two Ethereum Improvement Proposals (EIPs) for the Next Istanbul Upgrade

Developers Endorse Two Ethereum Improvement Proposals (EIPs) for the Next Istanbul Upgrade

Two Ethereum Improvement Proposals (EIPs) have been approved to be included during Ethereum’s next majorupgrade scheduled for October, CoinDesk reports.

The two nodes are the first to be officially endorsed among the 28 EIPs that have been submitted for review and inclusion in Ethereum’s next system-wide upgrade or hard fork which has been dubbed, Istanbul.

On Friday, during a bi-weekly call, the devs deliberated on the EIPs to be endorsed and the ones to be rejected or postponed for a future system-wide upgrade. Most of the EIPs will need further deliberations but two have officially been endorsed for the October upgrade.

The Two Proposals in Details

The first EIP is 2024 in some documents or 131 in others. The node will add a fresh precompile to the Ethereum digital machine. According to the notes released precompiles are explained as costly operations within the Ethereum blockchain which deploy for a fixed cost or gas cost.

EIP 2024 will introduce a precompile for a fresh hush function known as Blake 2. This function is touted to be faster when it comes to verification as well as authentication of blockchain data compared to the traditional hash functions that are found in SHA-3.

Different strands of Blake 2 are at the moment being utilized in different crypto projects like privacy coin Zcash as well as domain-name network Handshake. EIP 2024 will introduce a precompile replacing Blake2 with Blake 2B. The statement explained:

“Blake2B means that we could interop with zcash on the ethereum main network,” said James Hancock, one of the three authors behind EIP 2024. “Wrapped ZEC within ethereum, [shielded] transactions, a whole lot of cool stuff.”

The second node is EIP 1702 which was proposed by Wei Tang from Parity Technologies. The node is set to enhance smart contracting in the Ethereum network.

Currently, all the decentralized apps (Dapps) which are running on Ethereum network are based on virtual immutability, the auto-executing lines of codes referred to as smart contracts. The smart contracts are assembled and executed using the Ethereum virtual machine that is touted as the central aspect of the blockchain platform which operates as the engine distributing the numerous Dapps built by developers.

The proposal seeks to upgrade the ethereum virtual machine that is in use to WebAssembly code but in the long-term. This will provide more flexibility in terms of programming language as well as performance.

The EIP 1702 also proposes the introduction of a fresh methodology for hard forks known as ‘account versioning’ in order to upgrade the ethereum virtual machine or bring forth fresh virtual machines in the platform in an easy way.

Will the first two Ethereum Improvement Proposals to be endorsed for inclusion in the next hard fork enhance the functionality of the blockchain? Share your views with us in the comments section.

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Author: BEG News Desk

SKYCOIN Price Prediction Today: Daily (SKY) Value Forecast – June 21

Skycoin fiber
  • The short and medium-term outlook is in the bullish trend.
  • Traders may look to buy at pullback area.

Supply zones: $2.00, $2.20, $2.40
Demand zones: $1.00, $0.80, $0.60

SKYUSD is in an uptrend in the medium-term outlook. The breakout at the key resistance area of $1.80 with a large bullish candle shows the bulls dominance as the market opens today. The cryptocurrency rose to $1.97 in the supply area before the exhaustion sets in for the minor bears draw down of price.

$1.80 in the demand area was the point the bears drop the coin before the loss in momentum. This was a retest that confirms the bullish continuation in the medium-term.

Price is up at $1.93 in the supply area above the two EMAs which suggest strong bullish pressure in the market which may lead to further upward price movement.

The journey to $2.50 in the supply area is on with the signal of the stochastic oscillator at 73%.

SKY/USD Short-term Trend-Bullish

The cryptocurrency is in a bullish trend in the short-term outlook. The bulls had control of the market as it opens today at $1.73. SKYUSD rose initially to $1.80 and later to $1.96 in the supply area due to increased bullish momentum.

Price is above the two EMAs which are fanned apart. This implies strength in the context of the trend and in this case the uptrend.

The stochastic oscillator signal pointy up at 61% suggesting upward momentum in price in the short term.

$2.00 is the initial target as pressure on price becomes much stronger toward the upsides

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

NEM Releases New Catapult-Based Development Studio Before Its Major Blockchain Upgrade

NEM-Launches-New-Development-Studio-Before-Its-Major-Blockchain-Upgrade
  • NEM launches new development studio to support its move towards a new protocol update
  • The development studio has also requested $8 million from NEM reserves to back its operations
  • NEM is currently launching a development studio that aims at supporting its move towards a new protocol update later in 2019. This is according to a recent press release revealed by the company in an email to CoinDesk.

NEM Launches New Development Studio

The NEM blockchain project announced it is working on a development studio to support its transition to a new protocol this year. The press release explains that the new NEM Studios is being created by NEM Holdings, which is the non-profit holding of NEM Ventures. Meanwhile, the NEM Foundation will help with strategy and backend development for NEM’s Catapult upgrade.

The new improvement aims at providing enterprises with a “high speed” scalable and also a configurable solution. NEM Studios’ activities are funded by NEM Core. The company is also now seeking to hire a new CTO and a development team to work on the Catapult Core protocol and API layer. The Chair and trustee of NEM Holdings, David Shaw, is going to be leading NEM Studios as the director.

Mr. Shaw commented about the project:

“We are thrilled to be creating a dedicated team to bring Catapult to life this year and support its development into the future. We will be looking to recruit the best in the business, with deep technology experience, and look forward to creating a more effective and scalable ecosystem for our community.”

Catapult is expected to become the core NEM code that supports private and public blockchains. The press release informs that it will also include smart contract plug-ins that allow for a range of capabilities related to digital asset creation and more.

The project has also requested $8 million of NEM Reserves that will be released to the market in different periods of time in order to support the operations of the project.

Currently, NEM is the 20th largest virtual currency in the market. It has a market capitalization of $787 million and a price of $0.08749 per coin. It is worth mentioning that the digital currency was affected by a hack on the Coincheck exchange back in 2018 that resulted in the loss of $500 million worth of NEM tokens.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Carl T

CRYPTO.COM CHAIN Price Prediction Today: Daily (CRO) Value Forecast – June 20

  • The short and medium-term outlook is in Tthe uptrend.
  • Responsible buying may be considered.

Supply zones: 0.0000086, 0.0000088, 0.0000090
Demand zones: 0.0000030, 0.0000020, 0.0000010

The cryptocurrency is in an uptrend in its medium-term outlook. Shortly after yesterday opening, the bulls briefly push the coin to $0.0000074 and lost momentum at the trendline. The bounce was expected as the bears stage a gradual return with a bearish spinning top.

Increased momentum drops the coin at $0.0000067 before the end of yesterday session.
The bears sustained the momentum as the market opens today as CROBTC fell to $0.0000064 closing the candle as a bullish doji an indication of an imminent trend reversal.

The bulls area currently in control of the market with a target at the trendline in the medium-term. This is further confirmed by the signal of the stochastic oscillator as it points up at 38% suggesting upward momentum. $0.0000072 at the trendline is the bulls target.

CRO/BTC Short-term Trend: Bullish

CRO/BTC is in an uptrend in its short-term outlook. The bulls took control of the market at $0.0000064 after the formation of the bullish spinning top. Price rose to $0.0000070 breaking the resistance at the 10-EMA.

The stochastic oscillator signal points up at 51% an indication of upward momentum in prices of the cryptocurrency.

Price is above the 10-EMA an indication of bullish pressure. With more buyers taking positions $0.0000071 in the supply area may be retested.

Please add a valid coin_id. You can get it from coin page’s url (slug or short name).

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

Quadriga’s Fraud is Surfacing as Founder Moved Customers’ Funds in his Personal Account

Quadriga’s Fraud is Surfacing as Founder Moved Customers’ Funds in his Personal Account
  • Ernst & Young report: Quadriga late founder Gerald Cotten created fake accounts
  • Over $200 million stolen from customers, 9,450 BTC, 387,738 ETH, and 239,020 LTC
  • QuadrigaCX’s late founder and CEO moved the funds of users to his own account on other cryptocurrency exchanges, according to the fifth report by Ernst & Young.

In a 70-day page report released Wednesday, one of the big four accounting firms claimed that Gerald Cotten, who died last December transferred millions of dollars in cryptocurrency out of customer accounts into others exchanges. These funds were used by Cotten to furnish his trading habits and personal lifestyle.

Cotten, it appears stole more than $200 million from his customers.

“Significant volumes of Cryptocurrency were transferred off Platform outside Quadriga to competitor exchanges into personal accounts controlled by Mr. Cotten,” the report said. “It appears that User Cryptocurrency was traded on these exchanges and in some circumstances used as security for a margin trading account established by Mr. Cotten.”

Fake Accounts, Poor Practices, Mismanagement

Cotten reportedly created fake accounts on Quadriga under multiple aliases and credited them with fake fiat that did not exist. This resulted in:

“inflated revenue figures, artificial trades with Users and ultimately the withdrawal of Cryptocurrency deposited by Users.”

EY further noted that in trading on competitor exchanges, Cotten incurred trading losses and incremental fees that adversely affects the crypto reserves of the exchange.

Between 2016-29, Cotten transferred 9,450 Bitcoin (BTC), 387,738, Ether (ETH) and 239,020 Litecoin (LTC) out of exchange’s accounts.

The report also detailed poor practices and mismanagement, noting that Quadriga had no contingency plan for the loss of its funds or the owner. The exchange even engaged in poor accounting practices and did not maintain any documentation.

EY Recovers $32 Million in Fiat

While Cotten had full access to the platform, the system didn’t register its activities within the site that EY says this approach could be made on Cotten’s request.

It has also been found that a significant amount of fiat currency was transferred to both Cotten and his widow. Per the report, the acquired assets of the pair worth about $12 million including a boat, aircraft, luxury cars and 16 properties in Nova Scotia.

As reported previously, Quadriga initially filed for creditor protection when the exchange lost access to its cold wallets and corresponding keys that held the assets owed to clients. This was after the death of co-founder Gerald Cotten.

So far, EY has recovered $32 million in fiat currency, with most of the funds collected from third-party payment processors and identified an additional $1 million in cryptographic competition.

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Author: AnTy

Bit Torrent Price Prediction Today: Daily (BTT) Value Forecast – June 20

BitTorrent Token Declares Liftoff as BTT Token Passes Its ICO Price By 5x Already
  • The price of BTT was in a downward correction after the bulls were resisted at the $0.001800 overhead resistance.
  • The price fell to a low at $0.001161 on June 9.

BTT/USD Medium-term Trend: Ranging

  • Resistance Levels: $0.001400, $0.001600 ,$0.001800
  • Support levels: $0.001200, $0.001000, $0.0008000

Yesterday, June 19, the price of BTT was in a sideways trend. The price of BTT was in a downward correction after the bulls were resisted at the $0.001800 overhead resistance. The price fell to a low at $0.001161 on June 9. The 12-day EMA and the 26-day EMA were contracting as a single line indicating that the price of BTT is in a sideways trend.

The crypto’s price includes small body candlesticks like the Doji and Spinning tops. These candlesticks describe the indecision between the buyers and the sellers. The crypto’s price fluctuates below and above EMAs. As the crypto’s price is fluctuating in a tight range, there is a likelihood of a bullish or bearish breakout. Meanwhile, the price of BTT is in the oversold region of the daily stochastic but below the 60% range. This indicates that price is in the bearish momentum and a sell signal.

BTT/USD Short-term Trend: Bearish

On the 1-hour chart, the BTT price is in a bearish trend. The 12-day EMA and the 26-day EMA are sloping southward. The crypto’s price is falling and at same testing the 12-day EMA to break above the EMAs.

The BTT price is currently trading at $0.001282 price level. Meanwhile, the price of BTT is in the oversold region of the daily stochastic but below the 20% range. This indicates that price is in the bearish momentum and a sell signal.’

Please add a valid coin_id. You can get it from coin page’s url (slug or short name).

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

Simplex CEO: Crypto Could Help Improve, Not Replace, Banking Efficiencies

Simplex CEO: Crypto Could Help Improve, Not Replace, Banking Efficiencies

The rise of cryptocurrency has forced many both within and outside the crypto industry to reconsider the current financial systems that have existed in the past and whether they can continue to exist within the future.

Even when cryptos gained acceptance and ICOs became all the range, there were calls by those within the industry for regulatory bodies to put proper laws in place. However many of these bodies did not take cryptocurrency as seriously as they should and were not eager to put in the laws required for the industry.

All that is changing as we are seeing a new wave of institutional adoption of cryptocurrency and because large institutions are embracing cryptocurrency, these regulatory bodies find themselves with no choice but to also give the industry attention.

This was greatly evidenced this week when Facebook released a white paper for their much-anticipated Libra cryptocurrency. Within days of the release of the token, world leaders were already making plans to meet with the management of Facebook to discuss what the token would mean for global financial systems with the US Senate already scheduling a hearing with Facebook over the matter.

This has once again reignited discussions of whether cryptocurrency will work alongside the modern financial institutions or replace them altogether.

Now Nimrod Lehavi, the co-founder and CEO of simplex, has spoken to Finance Magnates about his views on the regulatory stance towards cryptocurrency and what the new token will mean for the future of the financial world.

Nimrod’s Take

During the interview, he stated that he has always felt as that current banking systems are much less efficient that they could be on the cryptocurrency could serve as a catalyst for an increase in efficiency.

Historically speaking, he says, major internal progress did not happen until financial forces gave them no choice.

“By definition, up until Bitcoin, there wasn’t anything that was really external to [institutional] financial systems. As a company, you have to be connected to the [institutional] financial systems–if you want to pay salaries, if you want to accept payments.”

“And all of a sudden, something here can really make a difference,” he continued, adding that “I’m not on the Libertarian side, I don’t think that banks, or for that matter, governments are going to go away. But I do think that given the proper shift in balance, we can see something [revolutionary.]”

He also stated that even if the crypto industry only serves to make the banking industry cheaper and more efficient, it would bring a great deal of satisfaction to him.

That is the core goal of his company Simplex which is working to enable access to people who wish to get into the crypto world by running a secure escrow service for larger fiat to crypto transactions as well as a payment platform that allows merchants around the world to accept the various payment methods.

“Credit card fraud is [the cause of the theft of] tens of billions of dollars per year,” Lehavi explained, and “when we started Simplex five years ago…[the purchase of crypto with a credit card] is something that was considered impossible to provide.”

Their business model has been helping people to buy crypto using fiat currency while not having to involve the banks to a great degree.

The reason they’re able to do this because their companies in specifically associated with crypto and so banks will not have a reason to block their withdrawals or deposits through any card they issue and this helps get around the current issue of banks refusing to give services to crypto companies.

Between this and the other institutional investors are putting their money into crypto, the future is bright.

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Author: Tokoni Uti

Bitcoin Pre-Paid Cards with a Conversion Option for 10 Fiat Currencies by The White Company & Paxful Launches

Bitcoin Pre-Paid Cards with a Conversion Option for 10 Fiat Currencies by The White Company & Paxful Launches

Partnerships have continued to be a fundamental indicator of growth and stability for projects within the blockchain and cryptocurrency space. One recent collaboration by Paxful, a digital coin exchange, with The White Company (TWC) is expected to tap more unbanked individuals into crypto.

TWC which is a New York based Fin Tech firm specializes in developing blockchain-oriented products for both supply and demand stake holders interested in leveraging the new technology.

This move is a significant milestone for the crypto space as clients will have the option to convert their BTC to 10 different fiat currencies. So far, the most pegged currency (USD) is featured amongst others like the Australian dollar and Swiss Franc.

Elizabeth White, founder and CEO of The White Company, noted that the partnership is set to facilitate the inclusion of millions into the digital asset ecosystem through Paxful’s P2P market. She went on to add that;

“Together we can bring all the benefits of banking without the high costs to developing countries and the unbanked, as well as promote the usability of cryptocurrency worldwide.”

Bitcoin; The Game Changer in Banking!

The on-boarding process for this platform is quite simple, clients will only be required to provide an email address and in turn receive a card with virtual prepayments.

Users will then have to make a conversion from digital currency (BTC) to fiat so as to easily use their designed cards for online purchases and service payments.

In addition, the clients can also ask for a physical card delivered to them. These will be efficient in ATM withdrawals and physical purchases from retailers. This technology appears quite lucrative to big city folks but the main targets by Paxful and TWC are developing economies whose population is mostly unbanked.

Both entities noted through a statement that their collaboration will mostly have a positive impact in African and Latin American markets where a bigger part of the population is unbanked.

Ray Youssef, the Co-founder and CEO Paxful, echoed that the firm’s mission of liberating financial services around the globe just acquired new ground with this partnership;

“Many of our customers are unable to become banked. By allowing them to change bitcoin into prepaid debit cards we are giving them the chance to participate in both the current financial system and the digital economy.”

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Author: Bitcoin Exchange Guide News Team

Bitcoin Is Outperforming Assets Over a 100-Years-Old With Still So Much Upside to Manifest

Bitcoin Is Outperforming Assets Over a 100-Years-Old With Still So Much Upside to Manifest

It is no secret that Bitcoin is one of the hottest assets in the world since April. It is faring better than almost any other non-crypto asset in the world and not a lot of altcoins are able to follow it, with some exceptions as Binance Coin (BNB) being the only ones.

Now, an old-school trader known as Peter Brandt has talked about why he is investing in Bitcoin. According to him, the BTC market is currently the best market ever seen.

On a chart, he compared Bitcoin lows, highs and its advancement with some other assets such as gold, which is 100-years-old. Gold only has a 93-fold in 100 years while Bitcoin has a 9,765-fold in only ten.

While the cryptocurrency has been subject to boom and bust cycles, the truth is that its prices are always higher when you compare them to four years before. The token went from almost nothing in price to over $19,500 USD. Now, the prices may be lower than they were before, but this is no reason to simply ignore all the potential that BTC has.

Even the Dow Jones Industrial Average has a fold of 873, which is smaller than Bitcoin’s performance from 2011 to 2017 alone.

If you invested in gold in the last three years, you would have only got a return on investment of 6.44% but if you invested in Bitcoin instead, the returns would be 330%.

This shows that there is simply no other way to explain it: Bitcoin is the ultimate investment. You will be obviously better off by holding it than you would be if you choose to invest in almost any other non-crypto asset in the market.

Bitcoin’s price is $9,544.22 BTC/USD exchange rate today. The real-time BTC market cap of $169.61 Billion currently ranks #1 with a chart dominance at 57.81%, daily trading volume of $6.09 Billion and live coin value change of BTC 2.80 in the last 24 hours.

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Author: Gabriel Machado