Federal Chairman Powell Trusts Facebook’s Libra Raises Serious Concerns Needing Addressed


Ever since Facebook announced its plans for Libra, which will be run by the Swiss-based Libra Association in 2020, many mixed opinions have been expressed. Recently Fed Chair, Jerome Powell was questioned by Chairwoman, Mrs. Waters, in regard to Libra and any potential risks tied to it.

Powell initially started his viewpoint on expounding upon the importance he saw in supporting innovation within the financial services sector. While Libra’s project sponsors trust that this project would potentially bring public benefits (i.e. in terms of payments), he thinks more time is needed to fully grasp Libra due to some serious concerns. In particular, he said:

“Libra raises many serious concerns regarding privacy, money laundering, consumer protection and financial stability.”

He further noted that these concerns need to be addressed both “thoroughly and publicly” and that the necessary time should be taken, rather than rushing or

“sprinting to implementation.”

Powell also revealed that a working team has since been gathered to investigate Libra, which includes a collection of government individuals, including “the United States, regulatory agencies, treasuries […] central banks and governments around the world.

News outlet, CNBC, was the one to have released the video regarding Powell’s viewpoint and has since disclosed that Representative Bran Sherman, D-Calif., was one of some who expressed distaste for Libra. Sherman was quoted saying that acceptance of Libra would be equivalent to:

“[Transferring] power from the United States government to sanctions and tax evaders, terrorists, and drug dealers while reducing the importance of the U.S dollar as the reserve and trade currency… [Mark Zuckerberg] is the one that has made billions of dollars out of us […] and now wants to undermine the system.”

Head of Facebook’s Calibra Digital Wallet, David Marcus is set to present himself in front of the Senate Banking Committee on Tuesday, July 16, followed by the House Financial Services Committee on Wednesday, July 17. Marcus has since been quoted saying,

“We want and need governments, central banks, regulators, non-profits, and other stakeholders at the table to value all of the feedback we’ve received.”

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Author: Nirmala Velupillai

Spend Bitcoin At Amazon, Uber and Starbucks Using Fold’s BTC Lightning Network App


A payment platform called Fold has announced today that it will use the Bitcoin Lightning Protocol in order to enable its clients to buy goods from several stores such as Amazon, Starbucks, Whole Foods, Southwest Airlines and Home Depot. The cryptocurrency can also be used in services such as Uber.

It was also revealed that the company is currently focused on letting the users be more free with their BTC by not needing to pass any Know Your Customer (KYC) procedures. This is partly because all the payments will be done via the LN, not directly on wallets that belong to the company.

Fold is often remembered by some old BTC users. This was one of the first startups to start working in the field. Back in 2014, the main functionality of the app was to allow people to save 20% when using BTC to pay for coffee on Starbucks. Unfortunately, the congestion in the BTC chain caused some problems for the company when people started to massively use it.

The CEO of the company, Will Reeves, affirmed that they soon noticed that they could not use a layer 1 solution, which is why the team decided to change to the Lightning Network, which works as a layer 2 solution.

According to him, the long confirmation times and high fees were the two main problems. It was simply not profitable to use BTC for such small transactions. With the LN becoming considerably famous today and growing a lot recently, it is becoming a popular option and this is why it was chosen to be used in this app.

Other options were tested before, though. For instance, Fold tested the Lightning Pizza service before committing to the LN for all these services. It was, in fact, Lightning Pizza that made the CEO understand how powerful the solution was.

People used it a lot and they were blown away by the results, according to him. While there were some UX and technical issues, the test worked out very well.

With the new update, the company intends to make Bitcoin users and merchants join forces in order to finally make BTC payments mainstream. Merchants will not need to accept the BTC, though, they can receive in whatever currency they want, which eliminates some of the resistance for this.

As the integration with the system will not require a big effort from the merchants nor the installation of any specific hardware, the team believe that it will be easier to see this system be widely accepted.

The whole process from payment to the merchant receiving is set to take only half a minute, which is considerably more efficient than the prior method used by the company.

Discounts Will Be Brought Back In The Future

As we affirmed before, most of the users still remember a time in which they got 20% discounts by using the app. These discounts are not currently being offered at the moment, but the company is planning to get them back.

While they are not back, however, there is a rewards program that is being implemented. The service will reward the users for using Bitcoin, although they will not receive such big discounts.

This startup is currently being incubated by Thesis.co, which is a venture company based in the U. S.

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

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Author: Gabriel Machado

Shell Oil Partners With Blockchain-Based Startup LO3 To Enable Local Energy Trading via Exergy


The world’s fifth-largest oil and gas firm whose net worth is $262 billion has partnered with a blockchain-based firm LO3 that is located in New York, Forbes reports.

Europe’s giant oil and gas firm has pumped in an undisclosed amount of dollars in LO3 Energy whose platform Exergy monitors energy using the blockchain technology.

In the recent past, Shell has been keen on exploring the blockchain technology in its operation and this partnership marks the fourth public investment in a blockchain-based startup, Forbes said. The other three platforms that Shell has invested in are Vakt, Komgo, and Applied Blockchain.

As per the report, the gas and oil company has the leverage to turn its investment in LO3’s native tokens referred to as XRG and this will help in incentivizing the platform and there will need to access the decentralized energy grid. Initially, LO3 had planned to fund its project using an initial coin offering (ICO) using its XRG token, however, it has halted the idea until further notice.

The LO3 platform or Exergy is developed to monitor the flow of energy as it is included to a shared energy network in a locality. This will allow the residents who buy their power in the locality to be absolutely certain that it was indeed generated from a clean source windmill, a solar panel or a gerbil operating on a treadmill.

If triumphant, LO3 and its rivals in the growing “transactive energy” sector, could alter the work of the conventional electricity transmission and distribution firms such as Con Edison in the United States and Western Power Distribution in the UK from just installers of underground cables, to administrators of more coherent, distributed local energy grids.

Shell Ventures investment director Kirk Coburn explained the partnership:

“As we move into a less carbonized future, Shell aims to invest in innovative companies that will help enable the energy transition. LO3 Energy fits right in that space.”

More Partners

The partnership also brings in other players in the energy sector from around the world like Sumitomo Corporation Group based in Japan.

Although the details of the investment were not disclosed Coburn was categorical that he will be part of LO3 board as an observer and could later become a full board member if there are future investments.

Lo3 is also reportedly developing another token apart from XRG known as Anergy to enable consumers to sell data regarding their energy usage to various third party firms in the future.

Currently, although LO3’s Exergy is developed on the Ethereum blockchain there are plans to design it to integrate with the EOS blockchain.

Cointelegraph reports that LO3 is not the only one to develop a peer-to-peer energy distribution network. A few weeks ago Power Ledger, based in Australia, said it will soon release its decentralized energy distribution network in Austria’s second-largest city, Graz. just like LO3, Power Ledger also wants to optimize energy management first before eventually moving to zero-carbon energy.

Will blockchain revolutionize the energy market? Let us know in the comments section.

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Author: Joseph Kibe

Binance Labs-Backed Marlin Protocol Hoping to Supercharge Blockchain Speeds With $3M Funding


Thanks to several seed investors, who included Binance Labs, Electric Capital, Arrington XRP and NGC among others, Marlin Protocol has managed to amass a whopping $3 million. But while achieving such a massive amount in seed round is no mean feat, it also explains the amount of confidence the investors have in Marlin Protocol.

Marlin Protocol is a promising startup based in San Francisco and Bangalore in India. The purpose of this company mainly is to create ways and means through which network speeds across various Blockchain is increased. The motivation behind this is because throughput constraints are largely perceived as the largest hurdles impeding fast Blockchain adoption.

Ideally, the startup hopes to overcome the impediments and enhance speeds according to what the company’s CEO, Siddhartha Dutta, terms “bandwidth-sharing marketplace.” According to him, the best way to improve the bandwidth is to use “relayers,” especially because projects such as Algorand are already using them.

Arrington XRP Capital partner, Michael Arrington, also spoke highly of the Marlin. He said that the protocol leads the way among the most recent Blockchain-agnostic infrastructure startups, adding that it will greatly enhance the network’s effectiveness.

However, Dutta’s decision to use relayers seems to make sense. Algorand uses them, even though as Dutta says, the total relayers it uses is in “single digits.” But he believes that if the same ‘single-digit relayers’ were to be “bribed,” the whole network would instantly be more effective. Relayers, according to him, are the real conduits of communication.

Marlin Protocol, therefore, aims to use this idea and introduce a web of relayers, which will collectively secure nearly every Blockchain. This would happen together with ordinary node activities like staking and mining.

A majority of ETH, BTC or pretty much any professional group of miners and staking companies know the importance of maintaining strong, stable bandwidth connections, according to Dutta. He expects nodes to be interested in jointly working with Marlin; after all they’ll be paid for the bandwidth they spend.

Marlin Protocol has reportedly partnered with a couple of projects already, all of them interested to run their services on its ‘private test networks.’ It has WandX, Blockcloud, Murmur and Holochain, even as the list is likely to grow.

Meanwhile, Dutta is optimistic about the planned launch of a public Marlin testnet. The launch date hasn’t been revealed and it could happen in two or three months. The mega launch of the targeted mainnet, according to him, is, however, expected to take place later in 2020.

While speaking to CoinDesk, Electric Capital Managing Partner, Curtis Spencer, was upbeat that the protocol will help enhance the efficiency of the network. He said that Marlin’s long-term vision that’s pegged on privacy-preserving packet delivery is exciting.

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Author: Lillian Peter

Bitcoin is ‘Undervalued’ Until it Manages to Reach Gold’s Market Cap of $7 Trillion: Winklevoss Twins


Bitcoin Is Still ‘Undervalued’ Until It Manages To Reach Market Cap Of $7 Trillion, According To Winklevoss Twins

Have you been watching the performance of Bitcoin these past few months with some thinly veiled feelings of remorse that you weren’t one of those investors being brought along for the bullish ride? Well you’ve got another thing coming if you think you’ve missed out, this is what the Winklevoss twins think, at least.

According to the co-founders behind Gemini, Bitcoin still has plenty of room and time to surge ever upwards, and are under no allusion that it is currently ridiculously undervalued. Just how undervalued, exactly? The duo believe that it will continue to be so long as it has anything less than a $7 trillion market capitalization to its name. To put this into some interesting perspective – the current market cap for Bitcoin this quarter is $229 billion.

Being the owners of 1 percent of all circulated Bitcoin has put Cameron and Tyler Winklevoss into a very enviable position, and the two base their theory on Bitcoin having all the potential to surpass the current market cap for Gold, which is at 7 trillion dollars.

“Our thesis is that bitcoin is gold 2.0 and so until it has a market cap of $7 trillion, which is the size of gold, it’s a very under-valued asset, so I think people are waking up to that.” This is according to the two who took part in a discussion on CNBC.

Digital Gold? Can Bitcoin Outmatch The Precious Metal?

For an increasing number of people, Bitcoin is getting considered as the next generation class of precious metal – ‘Digital Gold’ – and a viable kind of store of value thanks both to its in-built scarcity and lack of correlation with any other market asset.

This makes it a highly effective hedge investment to have during times of economic uncertainty. And while there have been some fluctuations in its value over this quarter, the digital gold narrative is one that has gone from strength to strength.

The Cypto Fund Grayscale, which manages more than 2.8 billion dollars worth of assets, took to social media to kick off its #DropGold campaign. It is using this in order to encourage investors to switch out their Gold in exchange for Bitcoin. This has since been something that the Winklevoss Twins have come to espouse too.

According to Grayscale (@GrayscaleInvest), Gold is something worth looking into kicking out of your portfolio from its Twitter account on Mat 1st, 2019:

“Why is #Gold still in your Portfolio? #DropGold (Dropgold.com)”

This seems to be a hashtag trend and narrative that has been steadily gaining momentum online and in the investment world. An increasing number of traders operating on Wall Street, for example, not urge investors to consider a 5 percent portfolio allocation over to Bitcoin

“Usually in a portfolio, gold is about 5-10% of the portfolio so there’s nothing wrong with saying bitcoin couldn’t be 5-10% of a portfolio right now.” –  This is according to a statement provided by Anthony Grisanti during an interview on CNBC.

Winklevoss Twins Go Double Or Nothing On Bitcoin

We all commonly know the Winklevoss Twins from the hectic legal suit between themselves and Mark Zuckerberg back in 2013. Since managing to take millions of dollars from that settlement, the two decided to pour it into Bitcoin. Effectively, they managed to invest in the crypto startup company – BitInstant and have since managed to accrue a total holding of around 1 percent of all BTC in circulation.

Since then, they took to creating and launching their own Crypto exchange known as Gemini, and is in the process of getting involved in official Over the Counter trading (OTC).

Even with the kind of exceptional growth that Bitcoin has undergone in the last few years, the two believe that it is still very much in the formative years of its development, with much more to come in the foreseeable future.

“We still think it’s the bottom of the first inning,” to borrow a Baseball analogy.

Some Advice To Zuckerberg And Facebook’s Libra Crypto Project

While there is certainly cause for some kind of modicum of hard feelings between the twins and Mark Zuckerberg over intellectual property claims regarding Facebook. This hasn’t stopped the two from sharing their thoughts on the recently announced project and cryptocurrency coming from the platform known as Libra.

So what kind of advice did they provide to their former nemesis exactly?

“Talk with [regulators]. You know, we definitely went through the front door, and we tried to educate the regulators and shape the regulation in a thoughtful manner because if you get the regulation wrong it can stifle innovation.”

While the two have been on the figurative shop floor of cryptocurrencies, they have always been firm advocates for an approach by startups that allows them to obtain regulatory compliance and, therefore, approval. The twins were among some of the first to speak to regulators situated in New York, and were responsible for a rather controversial call for implementing ‘rules’ within the Bitcoin ecosystem to improve its chances of being adopted by mainstream finance.

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Author: James Fox

Could the Gemini Exchange Be Ready to Help Libra? Cameron Winklevoss Suggests Options are Open

  • The Winklevoss brothers are “definitely looking” to be involved with the Libra Association.
  • The Gemini exchange recently applied to be a broker-dealer with FINRA.

The Gemini exchange has been an innovative force in the cryptocurrency world. Now, as the conversation around Facebook’s Libra project progresses, it looks like the Winklevoss brothers are interested in potentially joining the Libra Association. The Libra Association is a collaborative consortium in charge of the newly proposed Facebook-based cryptocurrency. When the whitepaper for Libra was released last month, Facebook stated that they were looking to develop “a competitive network of exchanges buying and selling Libra.”

Speaking to CoinDesk on Tuesday, Cameron Winklevoss commented that they are “excited” about Libra and that the exchange is “definitely looking at in earnest.” Tyler Winklevoss appeared to share the same sentiment, seeing the cryptocurrency as a major influence on the other cryptocurrencies that will ultimately enter the market.

Tyler added,

“Our feeling is, this is the first of many FANG [Facebook, Amazon, Netflix and Google] companies to have a token project. Our prediction is in the next 24 months almost every FANG company will have a coin or be working on some sort of project.”

Considering the legal battle between Facebook CEO Mark Zuckerberg and the Winklevoss brothers over control of the social media platform years ago, it may surprise some people that the brothers would even contemplate getting involved. However, since the duo has infiltrated the cryptocurrency market, they may be looking to find a compromise with Zuckerberg, becoming “frenemies” for the sake of furthering the cryptocurrency industry.

However, this decision clearly would not be made just for the sake of the industry. Overall, the Gemini exchange is working to diversify their token offerings by next year. In an effort to list digital securities, the exchange has already applied for a broker-dealer license with the Financial Industry Regulatory Authority. With personal investments in Filecoin and Tezos, it is possible that these assets are the types of utility tokens that they hope to bring in. Cameron explained,

“We ask [regulators] for permission, not forgiveness.”

Tyler added,

“Our marketplace will be virtual commodities, virtual securities, and on and on. Pretty much anything that can come onto a blockchain.” He continued, saying, “If bitcoin really is Gold 2.0, it has to have a market cap of $7 trillion. I think that market cap is a good measure of adoption and how many people are actually in crypto.”

At this point, there is only one crypto exchange to join Libra so far, which is Coinbase. Others already involved with the association include PayPal, Visa, Mastercard, Union Square Ventures, and others.

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Author: Krystle M

Hong Kong-based Crypto Firm Diginex and Acquisition Company, 8i Await NASDAQ Listing


Crypto and blockchain financial and technology services provider, Diginex is waiting to get listed on NASDAQ reports Bloomberg. In particular, the company revealed that this endeavor also includes acquisition company, 8i Enterprises Acquisition Corp., where the duo is “going public through a reverse merger.”

As per the claims made, this endeavor will result in Diginex holding a value of roughly $276 million, which includes debt. Said shareholders are expected to receive 20 million ordinary shares of 8i, each going at a price of $10 per piece.

Bloomberg views Diginex’s move as one that avoids initial public offerings (IPO), as it is deemed a rather difficult approach in getting listed on public markets. This being said, Diginex’s way of entering via NASDAQ will still be watched by the likes of regulatory bodies, i.e. U.S Securities and Exchange Commission.

PR Newswire has since shared the sentiments of both the Chief Executive Officer (CEO) and Chairman of Diginex, Richard Byworth, and Miles Pelham respectively.

According to Byworth, this move will promote market visibility around the world. In particular, he said,

“We believe that this exciting transaction will enhance our broader market visibility as we further roll out our global platform including our exchange infrastructure, product offering, licenses and market expansion into key geographies around the world.”

Then we have Pelham, who elaborated more so on what moves Diginex will make in the near future. Some of which include, “Pursuing its vision of leveraging blockchain technology for both social good and the disruption of financial intermediates.”

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Author: Nirmala Velupillai


CoVEX — A Single Platform to Complete the Entire Crypto Lifecycle

CoVEX has been emerging as the most comprehensive and easy to use platform for buying a cryptocurrency and using all modern trading services. CoVEX is not just popular for buying, selling, trading but CoVEX aims to become one-stop platform for crypto-exchange with the highest maintain security, user-friendly with reduced downtimes. CoVEX offers the first all in one crypto cryptocurrency exchange platform that incorporates all the features that you would want to see on an exchange platform.

CoVEX- The multi-functional cryptocurrency exchange:

When we talk about a cryptocurrency exchange, all you can think about are the features like buying crypto and trading it. At least this is what we were forced to believe. You will certainly be surprised after finding out that the CoVEX cryptocurrency exchange can do a whole lot more.

CoVEX crypto exchange platform is the complete package. It is no secret that the majority of cryptocurrency exchanges were developed by enthusiasts with only a small fraction of them having the requisite technological maturity to help keep cryptos safe.

“CoVEX Exchange is now live with the most advanced system lowest fee on Buying and Selling your favourite cryptocurrencies.”

CoVEX Exchange Features:

Suitable to All:

CoVEX crypto exchange is suitable for everyone. From a beginner to world class traders, this platform does not fail to impress its audience. For a beginner, the CoVEX exchange will be bringing in a new feature called social trading which allows users to copy every trade a reputed trader makes on the platform. Thus, guaranteeing a winning trade each and every time.

Earn BTC, ETH, USDT and more

The platform also allows its users to earn more crypto just by holding the in-house coin i.e. the CoVEX coin in their wallet. Thus, simplifying the money earning process. These profits are calculated on 50% of the commissions of each transaction that takes place in the exchange and is distributed equally according to the number of tokens that each user has at the time of the distribution. That is, the more CoVEX tokens you are holding on your wallet, the more rewards you will receive in different tokens.

Discount in Buying and Selling

CoVEX, the revolutionary crypto exchange has the perfect solution for saving your money while paying a trading fee. No one likes to pay the trading fees. However, we all need to pay for the convenience that a crypto exchange offers when we start trading. CoVEX has an in-house token called the CoVEX coin which helps all users save trading fees. If you hold 1,000 CoVEX token or more, they provide you 50% discount on trading fee of your buying and selling any cryptocurrency in the CoVEX platform.

CoVEX Referral Program

CoVEX offers you to get up to 15% commission for every successful referral. The inviter will receive the corresponding Referral Bonus from the transaction fee, each time the invitee completes an order. So, for a beginner, this is a gold mine filled with opportunities.

“Our motto is better, faster, stronger and safer because the market needs a crypto exchange which will not fail investors.”

CoVEX Roadmap of future development:

CoVEX exchange will be few platforms that you would require to complete your cryptocurrency investment lifecycle. The platform will integrate several features such as margin trading, social trading, p2p lending, prepaid cards as well as a payment processor. It will be offering its users everything that they ever wanted, in the same place. Thus, giving it an edge of all the existing trading platforms.

  • Social Trading (copy trading): For a beginner or trader who are not active in the crypto but like to take a profit on the growth of crypto, the CoVEX exchange is bringing in a new feature called social trading which allows users to copy every trade a reputed trader makes on the platform. Thus, a winning trade each time by following Top traders at CoVEX.
  • Margin trading: CoVEX will simplifying Margin trading to a very large extent. Most of Margin trading with the house but CoVEX is providing a platform where Margin lenders and Margin can meet. In the CoVEX platform margin lenders can set rates/ratio of leverage and return. They will setup the condition how return & risk can do control.

Unlike traditional margin trading where the funds get liquidated as soon as they breach the margin line, on CoVEX users receive a warning when the value of funds is close to the margin line. Thus, users get an opportunity to add more funds and have a longer position on the funds. Thus, instead of losing everything at once, CoVEX provides its users an opportunity to make more profits and avoid unnecessary losses.

  • P2P Loan: The CoVEX platform also implementing a decentralized p2p lending service. This allows users across the world to receive loans in lesser time and even reduces the repayment fee while at the same time protecting the interests of the lender.

Payment Gateway & Pre-paid Card: CoVEX is an all-in-one cryptocurrency exchange that supports all cryptocurrencies and is also providing a crypto payments gateway. In order to propagate the blockchain technology further, this platform will provide merchants with a crypto payment gateway service. Merchants have the option to convert each payment they receive into fiat money or can also receive it in cryptocurrency.

CoVEX Pre-Paid Card will be providing the users with a prepaid card that can be used in any offline store that accepts card payments.


The CoVEX trading platform essentially helps to satisfy all your trading needs. Being the only platform to be providing so many different features, it will certainly gain the support that it deserves. If you are looking for a new trading platform, you now have the perfect solution right in front of your eyes. By using CoVEX exchange, you get to access a plethora of powerful tools at one place. Thus, simplifying your journey through the crypto space.

Official Web Links:

Web: https://covex.io

Telegram: https://t.me/CoVEXplatform

Twitter: https://twitter.com/covexcoin

Facebook: https://www.facebook.com/covexcoin/

Reddit: https://www.reddit.com/user/polojoan/

Medium: https://medium.com/@covexcoin

Instagram: https://www.instagram.com/covexcoin/

CRYPTO.COM CHAIN Price Prediction Today: Daily (CRO) Value Forecast – July 9

  • On July 8, the crypto experienced a significant hike in value as it continues its range moves.
  • A breakdown of B0.0000064 may potentially lead in witnessing a low around B0.000006 point.

CRO/BTC Medium-term Trend: Ranging

  • Supply levels: B0.0000075, B0.00008, B0.000085
  • Demand levels: B0.0000055, B0.000005, B0.0000045

At an earlier stage of CRO/BTC market operations featured between July 5 and 7, the trade moved in a range. On July 8, the crypto experienced a significant hike in value as it surged notably above a high mark at B0.0000075. But, shortly, the pair began to revert back to its initial line of ranging spot around B0.0000065 mark.

The Bollinger Bands and the 50-day SMA now trend towards the east direction. The Stochastic Oscillators have dipped into the oversold zone.

Price may soon get down finding a sit between the 50-day SMA and the Bollinger Lower Band possibly around B0.000006 price level. Meanwhile, the crypto has the high possibility to relax around that spot as well for a while on getting to there.

CRO/USD Short-term Trend: Ranging

There has been a series of lower lows in the range price movements of the CRO/BTC market today. The choppy price movements have been featuring around B0.0000066 and B0.0000064 points. Yesterday, the market got stumble after hitting a high strength level at B0.0000078 mark to complete the trading activities as being a bearish trend.

The indicators now are of more pointing to the east direction. Both the Bollinger Upper Band and the 50-day SMA are a bit located over the ranging market. The Stochastic Oscillators have crossed slightly to point to the south.

This market value may still drop below B0.0000068 mark while price only makes a move to test it from below. In addition, B0.0000064 point is the current baseline around which the market has been converging. And, a breakdown of the line will lead in witnessing a low around B0.000006 point.

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

ANGUR Price Prediction Today: Daily (REP) Value Forecast – July 9

Augur (REP) Coin Price Spikes Over 30%, Leads All Cryptocurrency Gainers Today
  • The short and medium-term outlook is in a bullish trend.
  • Responsible buying with bullish reversal candlestick pattern as confirmation.

Supply zone: $20.00, $22.00, $24.00
Demand zone: $10.00, $9.8.0, $9.60

AUGUR continues in a bullish trend in the medium-term outlook. The bulls sustained the momentum from $14.31 in the demand area as the market opens today at $14.50. REPUSD rose initially to $15.60 and later to $17.88 in the supply area with a large bullish candle.

The resistance at the two EMAs was broken nicely. Wicks in the candle at the supply area denotes exhaustion before brief momentum loss to allow for the market correction.

Price is above the EMA crossover while the stochastic oscillator signal points down at 47% which implies the correction by the bears before upward bullish continuation in the medium-term.

$18.00 in the supply area is the bulls’ target as they journey up north with more candles opened and closed above the two EMAs south.

REP/USD Short-term Trend: Bullish

The bulls had a successful ride to $17.93 in the supply area after the market opened at $14.57. The closed of the candle with a wick indicates exhaustion. The 61.8 fib was the point the bears drop the coin at $15.43 in the demand area. This was a key retracement area as the bulls gradually stage retuned.

Price was up at $16.97 before the drawdown to the 61.8 for a double bottom formation as the bulls set up for a strong comeback.

A retest at $17.832 in the supply area is imminent in the short-term.

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