Bitcoin Traders in Japan to See More Government Interference For $93 Million in Undisclosed Revenue

Japanese-Crypto-Traders-to-See-More-Government-Interference-For-93-Million-Undisclosed-Revenue

There are more than a few countries in the world where cryptocurrency is largely frowned at. China, for example, isn’t the most receptive to crypto as the government not only openly condemns it but also tries to pass laws that ensure that the growth of the cryptocurrency sector is as stifled as possible. Even though there is no legislation against crypto in the United States, the country’s SEC is also a bit on the fence about the sector.

Japan, however, is one of the most liberal countries with regards to crypto. In April 2017, the country officially recognized Bitcoin and cryptocurrency in general as legal, to be governed under the Payment Services Act. In December of the same year, the National Tax Agency (NTA) also formally classified profits made from crypto as “miscellaneous income” and ruled that such income be taxed between 15%-55%. This is probably the reason Japanese traders have decided to hide their cryptocurrency gains.

Japanese Traders Don’t Report Crypto Profits

According to some reports, at least 30 different cryptocurrency businesses and about 50 persons have either underreported their proceeds or have not been reporting them at all, for a few years now. Japanese law clearly states that all individuals and businesses who earn above 200,000 yen – $1850 – annually are expected to report such earnings. However, more than a few people have not been reporting this, supposedly due to the 55% tax attached. According to authorities, the undisclosed funds add up to about 10 billion yen ($93 million).

Crypto Will Face More Scrutiny

The tax evasion discovery didn’t just start and since last year, the Japanese government has been creating a new system that will allow the NTA to officially collect information from the country’s crypto exchanges on suspected evaders. The information will include their names, addresses, individual identification numbers and some other personal information.

At the moment, all intermediaries that the NTA requires information from are not exactly mandated to do so compulsorily. If an exchange feels they have enough reason to refuse to share the information, they have a right to do so. To ensure that privacy is upheld even when the new law is finally implemented, these exchanges will still be allowed to challenge a request made by the NTA through a proper appeal. The NTA will also only ask for data for suspected tax evaders who have earned at least 10 million yen – ($88,700).

The NTA declared as the conclusion from a survey that more than 300 persons disclosed they made about a 100 million yen from various cryptocurrency businesses and deals IN 2017. This was probably a direct effect of the 2017 surge when Bitcoin hit its all-time high of almost $20,000.

Furthermore, the government is also looking to pay more attention to Initial Coin Offerings (ICO). The country’s financial authority, the Financial Services Agency (FSA), is looking to create and enforce new and sterner regulations governing these ICOs to protect investors and stakeholders from fraud. When this is properly implemented, all institutions that wish to have an ICO will be mandated to first register with the FSA. This decision was made because of a few widely known duplicitous ICOs in other parts of the world that have defrauded innocent investors.

Crypto Taxes Should Probably Be Reduced

A few months ago, the FSA was asked by the Japan Association of New Economy (JANE) to cut down the existing tax percentage for crypto businesses. JANE asked that tax on crypto be reduced to 20%, which is the official rate for stocks. In addition to this, the agency was also asked to completely leave crypto-to-crypto transactions untaxed.

Read Original/a>
Author: Tolu

Allianz Global Strategist: I Wouldn’t Buy Bitcoin, It’s a Figment of Everyone’s Imagination

Allianz-Global-Strategist-Says-He-Wouldnt-Buy-Bitcoin
  • Allianz global strategist believes Bitcoin is an imagination
  • He said that he would not invest in Bitcoin
    Neil Dwane, portfolio manager and global strategist at Allianz, said that he would not purchase Bitcoin (BTC). He explained that his decision is related to Bitcoin being a “figment of everyone’s imagination.” Nonetheless, there are other analysts at the company that are in favour of Bitcoin.

Analyst and Portfolio Manager At Allianz Would Not Buy Bitcoin

According to the Wall Street Journal reporter Steven Russolillo, Neil Dwane does not believe in Bitcoin. On Twitter, he quoted him by saying that he would not purchase the digital currency and that there is no evidence that investors can get their money out of the system.

This is just another individual that, as he does not understand how Bitcoin works, decides to attack the crypto network and space. There are other critics such as Warren Buffett or Jamie Dimon that have also criticized Bitcoin and digital currencies.

During this year, Bitcoin was able to surge and reach the highest level in more than 8 months, becoming one of the best-performing assets this year. There is an increased interest in digital currencies from larger investors and other companies that helped the virtual currency reach $9,000 a few weeks ago.

According to Allianz, positions within the company can change, especially when looking from an insurance or asset management point of view. At the same time, they said that investors should decide for themselves whether they think Bitcoin and other virtual currencies are a predictable store of value.

There are other companies such as Fidelity Investments and the Intercontinental Exchange (ICE), that have been paying close attention to the crypto market and are now developing their own services and products for crypto enthusiasts and investors.

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

[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.

Read Original/a>
Author: Carl T

New Bitcoin Creation Theory Suggests Sci-Fi Writer Neal Stephenson is Satoshi Nakamoto

New Bitcoin Creation Theory Suggests Sci-Fi Writer Neal Stephenson is Satoshi Nakamoto

A new theory published online suggests that American science fiction writer Neal Stephenson is Satoshi Nakamoto.

In a blog post published earlier today, Peter Suderman at Reason.com writes:

“I am not saying that Neal Stephenson is Satoshi Nakamoto. What I am saying is: Would it really be surprising if he were?”

Stephenson, for those out of the loop, is a 59-year old American writer whose work has been categorized as science fiction, cyberpunk, historical fiction, and baroque. Across numerous novels, short stories, and essays, Stephenson has explored topics like math, cryptography, linguistics, currency, philosophy, and the history of science.

His best-known works from a 35-year writing career include Snow Crash, Cryptonomicon, and Seveneves. More recently, Stephenson has worked for Blue Origin, the private space company founded by Jeff Bezos. The inventors of the internet and the iPad, meanwhile, have both publicly claimed Stephenson as a muse.

Suderman sums up Stephenson better than I could by stating,

“He is the sort of writer whose novels include descriptions of vast nanotech defense systems, as well as of incredibly elaborate methods for eating Cap’n Crunch, complete with a special spoon. He keeps his head shaved and wears a gray-streaked goatee, a look that is part heavy metal wizard, part monk.”

That’s all great – but is there actually a chance that Stephenson is Satoshi Nakamoto? Or is this just an absurd fantasy?

Why Neal Stephenson Could Be Satoshi Nakamoto

Suderman proposes a number of reasons why Neal Stephenson could be Satoshi Nakamoto, including:

Satoshi Nakamoto and Neal Stephenson Are Interested in Similar Topics

Up above, we mentioned that Stephenson’s novels focus on several topics close to the crypto community, including math, cryptography, and currency. His work has also focused on the social and technological infrastructure of a post-government world, Asian culture, and other topics.

As Suderman explains, Stephenson’s work has also been heavily influenced by cypherpunks – just like Satoshi Nakamoto:

“His early work was heavily influenced by the cypherpunks, a coalition of hacker-technologists obsessed with cryptography, distributed information platforms, and science fiction (the title Cryptonomicon was inspired partly by the Cyphernomicon, a cypherpunk FAQ).”

You might think – big deal. Lots of people were interested in cypherpunk ideals. Satoshi was part of a global community of cypherpunks. However, certain elements of Stephenson’s stories have focused on topics surprisingly similar to bitcoin – long before bitcoin was invented.

Stephenson Describes an Anonymous Peer-to-Peer Communication System 13 Years Before Bitcoin

In his novel, The Diamond Age: Or, a Young Lady’s Illustrated Primer, Stephenson describes a worldwide “media net”, which is a type of anonymous peer-to-peer communication system that allows people to transfer money. Because of this media net, nation states have collapsed because financial transactions can no longer be monitored by governments. Tax collection is impossible.

Four years after that, Stephenson published Cryptonomicon, a novel tracing the World War II origins of cryptography and the efforts of a group of 90s-era hackers to setup a system of anonymous banking and digital currency outside the reach of traditional governments.

Stephenson followed up this work with a trio of novels called The Baroque Cycle that explains the historical foundations of math, money, and modern philosophy.

Clearly, Stephenson was thinking about the possibility of a system like bitcoin, including how it would work, what kinds of impacts it would have on the world, and how people would use it.

Of course, none of this means that Stephenson had any connection to bitcoin: during the early days of the internet, lots of people were theorizing about what this new tool could do and how it could work. So what other clues do we have that Neal Stephenson is Satoshi Nakamoto?

Neal Stephenson’s Initials (NS) Are a Reverse of Satoshi Nakamoto’s Initials (SN)

Neal Stephenson isn’t a pen name: it’s the guy’s real, legal name. He was born Neal Town Stephenson. Although he has written books under the name Stephen Bury and J. Frederick George, most of his work is published under the name Neal Stephenson.

The initials ‘NS’ are a reverse of Satoshi Nakamoto’s ‘SN’ initials.

Stephenson’s Latest Work Discusses the Best Way to Distribute an Enormous Amount of Wealth

Satoshi Nakamoto is one of the wealthiest people on the planet. Satoshi likely has a stash of anywhere from 1 million to 1.3 million BTC, making him a billionaire several times over.

Stephenson’s latest two novels, meanwhile, are focused on the idea of a video game developer rising to enormous wealth and then figuring out how to distribute that wealth.

Reamde, for example, was published in 2011 just a few years after the release of the bitcoin whitepaper. The novel discusses a draft-dodging marijuana Sherpa who founded a video game company based on the idea of converting in-game gold to real-world currency. The novel discusses the challenges of moving money across national and virtual boundaries. The protagonist lives in the Pacific Northwest – just like Stephenson. By the end of the novel, the protagonist has become very rich – worth hundreds of millions of dollars.

A follow-up novel called Fall follows the same protagonist at a later age. Fabulously wealthy, the protagonist is exploring ideas on how to cement his legacy, including the legal and organizational structure of foundations and how best to distribute his wealth.

Stephenson wrote this latest novel in late 2017, which is when bitcoin reached its all-time high. At this time, Nakamoto’s stash would have been worth somewhere between $20 and $30 billion. If Stephenson is Satoshi, he would have been dealing with the concept of suddenly becoming extraordinarily wealthy.

Other Stephenson Novels Hint at Bitcoin-Like Concepts

Suderman has thousands of additional words exploring the connection between Stephenson and Satoshi in various novels. Other connections between the two include:

  • In Stephenson’s 1992 novel Snow Crash, he imagined an online world or ‘Metaverse’ as a virtual gathering place where individuals could adopt new identities. The Metaverse provided a safe space for invention and reinvention. It also allowed criminals, entrepreneurs, and scammers to thrive. In other words, it sounds a lot like the internet we know today. The novel focuses specifically on the idea of internet anonymity, more than other sci-fi writers writing about the internet during this time period.
  • Multiple Stephenson works explore the idea of an elite tech-oriented class becoming more and more superior to lower classes. In Fall, Stephenson discusses how the rich elite can afford to pay people to have customized news feeds delivered in front of them, for example. In The Diamond Age, Stephenson explores the problem of fake news and trolling. The separation between rich and poor inexorably spreads with the invention of the internet.
  • Through all of these novels, Stephenson, as explained by Suderman, “maintains a keen sense not only the ways that technology might evolve but the cultural shifts it might entail, from news and social media to leadership and social structures in a virtual afterlife where people have limited senses of the self.

Final Word: Could Neal Stephenson Be Satoshi Nakamoto?

Neal Stephenson could certainly be Satoshi Nakamoto.

Of course, the homeless guy you walk past every day on the way to work could be Satoshi Nakamoto. Oprah Winfrey could be Satoshi Nakamoto. The crazy thing about Satoshi is that, even a decade after he publicly appeared online, we still have no concrete evidence connecting Satoshi with anybody.

It is clear, however, that American sci-fi writer Neal Stephenson discussed concepts closely connected to the world of bitcoin in numerous novels. Peter Suderman at Reason.com has an excellent writeup exploring all the connections between Neal Stephenson and Satoshi Nakamoto here.

Read Original/a>
Author: Andrew T

Avenir Suisse Suggests Swiss National Bank To Launch A Token Based On The Swiss Franc

Avenir-Suisse-Suggests-Swiss-National-Bank-To-Launch-A-Token-Based-On-The-Swiss-Franc
  • Avenir Suisse recommends Switzerland’s National Bank to launch a Swiss franc token
  • The goal is to remain at the forefront of the blockchain and crypto industry

The Swiss think tank called Avenir Suisse recommended Switzerland’s National Bank to launch a Swiss franc token. The information was released by the privately funded think tank in a report on June 4. This would allow Switzerland to become a dominant player in the tokenized securities landscape.

Could The Swiss National Bank Create A Swiss Franc Token?

Different central banks around the world have been analyzing the possibility to issue a Central Bank Digital Currency (CBDC). This time, Avenir Suisse released a report in which they explained that the analysis on embracing or not blockchain technology is focused too much on the risks rather than on the positive things.

This is why the think tank believes that if Switzerland becomes a dominant player in trading tokenized securities, it could attract more domestic and also international players to the market. This would also allow wealth managers to get a chance to exploit new business models as well.

The author of the article explained:

“Useful groundwork has already been done in these areas in Switzerland. But the time for pioneers is over: Switzerland now has to take the next step in the development of DLT, morphing from the much-vaunted ‘Crypto Valley’ into a fully fledged DLT nation.”

At the same time, Avenir Suisse explained that it is important to have a balance between legal certainty and also lean regulation. The goal is to create laws that are compatible with Distributed Ledger Technology (DLT) and open the market to as many foreign workers as possible.

Switzerland became one of the most important countries in terms of regulations and legal frameworks for digital currencies. Although there are many challenges to address, there is a clear political intention to make it better for crypto and blockchain companies to locate their operations in the country.

[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.

Read Original/a>
Author: Carl T

Diar Report Shows How China’s Stablecoin Trading Behavior Affects the Bitcoin and Crypto Markets

Diar-Report-Shows-How-China-Stablecoin-Trading-Behavior-Affects-the-Bitcoin-and-Crypto-Markets
  • Diar shows Chinese investors are demanding and trading with Tether
  • Bitwise data about exchanges could be far from the real numbers

In a recent report released by Diar, the company explains that on-chain data shows that Tether (USDT) volumes are reaching a new all-time high for the second quarter of this year. One of the most shocking things is the fact that trading volumes in China are much larger than trading volumes in Western countries.

Tether Volume Grows In China

Several cryptocurrency exchanges have been accused of having large amounts of the fake trading volume. This is something that is harming the crypto community and market as well. For example, the U.S. Securities and Exchange Commission (SEC) decided not to approve a Bitcoin exchange-traded fund (ETF) because it believes that the market is currently being manipulated by larger investors.

According to data released by Chainalysis, the demand for Tether in China reached $16 billion in 2018. However, this year seems to be even better than the last one. Since January 2019, the number of USDT received by Chinese exchanges surpassed $10 billion. That means that we could be heading towards the best year ever.

Diar shows that Chinese exchanges accounted for 39% of all on-chain transactions value for Tether. This year, things are getting even more interesting. The country is currently responsible for 60% of all on-chain transactions. Moreover, there are other exchanges such as Binance and Bitfinex that currently have 31% of the total Tether volume compared to the 47% share they had last year.

Meanwhile, in the United States, things are getting worse. The demand for stablecoin dropped from 44% in 2017 to less than 10% in 2018.

Diar explains that on-chain transactional volume in 2019 has gone up with the reported trading volumes in the market. The increased demand for Tether in China is related to the fact that there are investors that want to trade with these funds.

“Even a single rade of Tethers moved onto Chinese exchanges would equal daily volumes equivalent to $215 million for the month of April, which is three times as much as Coinbase and on par with Binance,” Diar wrote.

The report concludes that the report released by Bitwise, an asset management company that informed that 95% of crypto trading volume is fake, is likely to be far off the mark.

Read Original/a>
Author: Carl T

Bloomberg Terminal Will Include Cadence, an Ethereum Blockchain-based Debt Instrument

Bloomberg-Terminal-Plans-to-List-Cadence-Debt-Instrument
  • Blockchain-based Cadence becomes recipient of FIGI.
  • Cadence will be available through a new listing with Bloomberg terminal.

The Cadence platform allows consumers to convert their commercial debt into ERC-20 tokens. The platform has recently made headlines is for becoming the first blockchain-based financial instrument to obtain a Financial Instrument Global Identifier (FIGI). By having a FIGI, Cadence now becomes easier to research and can be traded, which is exactly why Bloomberg Terminal plans to list it.

With FIGI records, all of the metadata is included, like maturity schedule, instrument type, and interest rate. Since Cadence is connected with blockchain and ERC-20 tokens, their FIGI features a smart contract address on Ethereum as well.

Cadence is directly involved with debt businesses that need to create a seamless flow in cash, rather than succumbing to short-term gaps. Nelson Chu, the founder of Cadence, believes that the reliance on Excel spreadsheets and phone calls has created an opaque approach. Speaking with CoinDesk, Chu notes that the whole is to develop “an immutable ledger that houses all asset-level performance data,” covering

“inception through maturity.”

Chu added, “This creates an oracle of asset performance data that every counterparty in a private credit transaction can reference to accurately price, structure and invest.” At this point, there are eight issuances through the firm, utilizing one-month, three-month, and nine-month maturities. They also offer automatic rollovers, and all of these issuances can be seen on the terminal.

The lead of data standards with Bloomberg, Richard Robinson, said that using an FIGI with cryptocurrency assets shows a “natural and simple example of the standard’s native utility.” He further states that the fact that an FIGI can be obtained by a blockchain-based instrument shows that it is capable of being adapted to “esoteric” and “new” use cases.

FIGIs were preceded by the creation of the Bloomberg Global Identifier (BBGID), but the innovation was open sourced by 2014 when it was welcomed by the consortium on industry standards for computers. Even though Cadence is still in its infancy, it will allow users to get $500 and higher investments with short-term commercial debt instruments. It has only been available in private beta since the start of the year.

On the terminal, users will see a ticker symbol CDGRP for the Cadence issuances, which will also be logged on the Ethereum blockchain. Chu commented that this innovation makes it possible to develop

“a level of transparency and efficiency that has simply never been possible before.”

Read Original/a>
Author: Krystle M

New XMRig Cryptojacking Malware Found by Trend Micro Is Attacking Devices Around the World

Cryptojacking-Malware-Found-by-Trend-Micro-Is-Attacking-Devices-in-Thailand-and-the-US
  • Trend Micro found malware that uses current vulnerabilities in web pages and other sources.
  • At-risk individuals can update their device’s software with the most current verified patches to be protected.

The cryptocurrency investors of the world are probably pretty happy to see the Coinhive crypto mining script offline, but that doesn’t mean that cryptojacking is over. In fact, recent research by Trend Micro indicates that there’s a new collection of malware that is going after users’ hardware, in an effort to mine cryptocurrency.

According to reports from The Next Web’s Hard Fork, Trend Micro states that the malware is deployed on many web servers while applying brute-force attacks. As the user’s hardware encounters the malware, it downloads Monero cryptocurrency miner XMRig. The most active malware in May was BlackSquid, and the majority of its attacks appeared to be in Thailand and the United States. “BlackSquid” is the name that Trend Micro has given the malware family.

Right now, as far as Trend Micro can tell, there are eight exploits used by BlackSquid, including EternalBlue, DoublePulsar, three security flaws in servers (CVE-2014-6287, CVE-2017-12615, CVE-2017-8464), and three vulnerabilities in web applications (ThinkPHP). However, Hark Fork warns that these exploits are hardly the most worrisome details of the malware.

The BlackSquid family of malware still has a lot of hidden tactics, like anti-virtualization, anti-debugging, and anti-sandboxing. All of these protocols happen before installation starts, which basically means that it will only download to the user’s hardware if it has determined that the malware will be undetected. As one computer on the network is infected, the malware goes after connected systems to make the attack more widespread.

The attacks themselves come through webpages that are already infected, web servers that the malware has compromised, or infected removable hardware. In the event that the malware is successfully undetected, it installs their variation of the XMRig, and it also looks for a video card to help with mining. Essentially, the attack goes after absolutely everything it can to improve the attacker’s likelihood of getting a return.

Even though there is a chance of major damage for an infected system, it is going after exploits and vulnerabilities that are already known. Protecting against the attack is relatively simple since the vulnerabilities have already been patched. Make sure that any network connected has the most updated version of its own software, and that all of the current patches from verified sources have already been installed.

Researchers believe the malware to be still in the testing stage, and that there are multiple features that may still need to be trialed. That being said, this may not be the last time that BlackSquid arises in the industry as a worrisome malware.

Read Original/a>
Author: Krystle M

Apple to Introduce New CryptoKit Tool for Blockchain Developers at WWDC Event

Apple-To-Introduce-New-Tool-for-Crypto-Developers

According to a recently released event program, tech major Apple is planning to bring out a new tool meant for crypto developers at this year’s edition of Worldwide Developers Conference. The program for 5th June 2019 includes a session titled “Cryptography and your Apps”, which will witness the unveiling of a new tool called the “CryptoKit”. It will soon be introduced as an update on iOS 13.

CryptoKit will primarily be meant for crypto developers, allowing them room to experiment with tools and add more robust security features to crypto apps under development.

To quote the event description provided in the program:

“System frameworks encrypt both data at rest and data in transit in a transparent way for you. This functionality is available by simply setting an attribute. However you may want to do more to protect your users’ data.”

To enable such expansive functionalities, developers can use the new Swift framework, CryptoKit. They can use it to perform cryptographic operations simply and securely, regardless of whether they need to do something simple like compute a single hash or wish to run a more sophisticated protocol.

The ongoing edition of the Worldwide Developers Conference comes in the wake of people’s increasing scrutiny of Apple’s crypto strategy and it seems that the giant is finally warming up to the pros of digital assets industry. Crypto insiders were particularly enthused about Apple’s inclusion of the Bitcoin (BTC) logo in its in-app San Francisco font earlier and the latest development comes as a welcome move from one of the frontrunners of the tech world. Last month, Apple also introduced the option to make crypto payments over Apple Pay last month, further cementing its newly acquired place in the crypto world.

[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.

Read Original/a>
Author: Bitcoin Exchange Guide News Team

DECRED Price Prediction Today: Daily (DCR) Value Forecast – June 4

Decred Outlines Decentralized Exchange Plans
  • The short and medium-term outlook is in a downtrend.
  • Selling at key areas may be considered.

DCR/USD Medium-term Trend: Bearish

Supply zone: $30.00, $35.00, $40.00
Demand zone: $15.00, $10.00, $5.00

DCRUSD is in a bearish trend in the medium-term outlook. The break of the two EMAs by the bearish candle shortly after yesterday opening at $28.53 was a confirmation of the bears’ takeover of the market.

The cryptocurrency dropped to $27.16 in the demand area before bearish flag formation that led to a further drop to $26.30 before the end of the session.

The bears continued to push price further downward as today session opened on a bearish note at $26.72. Increased pressure led to a further drop to $25.29 created the second flag and the bears returned for another drop to $24.69 in the demand area.

The third bearish flag is currently unfolding which may also return the bears for another drop to the south with $23.00 as the initial target in the medium-term.

DCR/USD Short-term Trend: Bearish

The journey down south by the bears began as the market opens yesterday 3rd June with a bearish candle at $29.15. The cryptocurrency fell to $27.13 as the low of the day before the end of the session.

Todays saw session was dominated by the bears with a large bearish candle at $27.88. DCRUSD was down initially at $25.29 and created a flag. Increased bearish pressure led to the break from the flag and price dropped $24.69 in the demand area.

Currently, a flag is been created which was necessary for the market correction and to confirm the downtrend continuation.

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.

Read Original/a>
Author: Azeez M

Nano Price Prediction Today: Daily (NANO) Value Forecast – June 4

Nano Trading
  • On May 30, the bulls attempted to break the $2.0 overhead resistance but were repelled at the $1.90 resistance level.
  • The downward correction was completed as the crypto’s price fell to its low at $1.472 price level. This was the previous low of May 09.

NANO/USD Medium-term Trend: Ranging

  • Resistance Levels: $1.50, $1.60 $1.70
  • Support levels: $1.40, $1.30, $1.20

Yesterday, June 3, the price of NANO was in a bearish trend. On May 15, the price of NANO had an overhead resistance at a high of $2.0 price level. On May 16, the crypto’s price was resisted. The NANO market fell and had a downward correction to a low at $1.68. The crypto’s price was fluctuating below and above the 12-day EMA and the 26-day EMA which are sloping horizontally. On May 30, the bulls attempted to break the $2.0 overhead resistance but were repelled at the $1.90 resistance level.

The price made a downward correction to the EMAs. On June 2, the bulls were resisted in the bullish trend zone at the $1.80 price level. The downward correction was completed as the crypto’s price fell to its low at $1.472 price level. This was the previous low of May 09. Meanwhile, NANO price was in the oversold region of the daily stochastic but below the 20% range. This indicates that price is a bearish momentum and a sell signal.

NANO/USD Short-term Trend: Bearish

On the 1-hour chart, the NANO price was in a bearish trend. The crypto’s price was in smooth downtrend. The 12-day EMA and the 26-day EMA are trending in a sloping position. The crypto’s price was below the EMAs which was the reason for the price fall.
Meanwhile, NANO price was in the oversold region of the daily stochastic but below the 20% range. This indicates that price is a bearish momentum and a sell signal.

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.

Read Original/a>
Author: Azeez M