OX Price Prediction: Long-term (ZRX) Value Forecast – June 16

  • ZRX/USD market has now been ranging around three important market’s lines observed at $0.30, $0.35 and $0.40 marks respectively.
  • The bulls need to sustain their momentum beyond the $0.40 upper range point to be in control of the trade.

ZRX/USD Long-term Trend – Ranging

  • Distribution territories: $0.45, $0.50, $0.55
  • Accumulation territories: $0.25, $0.20, $0.15

Most of the Japanese trading candlesticks formed about a week back during the trading sessions of the ZRX/USD market are features of higher highs and higher lows. The formation of the range price movements has dominated around $0.35 horizontal mark until the present. The SMA trading indicators are as well closely located trending towards the east direction.

Precisely, the 14-day SMA is a bit located over the 50-day SMA. And, they are both found not too far above $0.30 mark which has now been taken as the actual lower range line. The upper range line is located at $0.40 mark. The Stochastic Oscillators have wittingly touched range 60. That still suggests an on-going choppy market movement of the crypto-market.

It needs to be stated that three main range lines are now involved in the ZRX/USD market’s current ranging trend. At the current upper range line of this market, there are forces awaiting any further movements to the north. Therefore, the bulls need to sustain their momentum beyond the point if they will have to be in control of the trade.

0x:

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.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \ Investment Disclaimer

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Author: Azeez Mustapha

Bitcoin Sees Record Hash Rate, Will the Price in USD Follow to All Time Highs?

Bitcoin-Sees-Record-Hash-Rate

Bitcoin Sees Record Hash Rate

For the last few weeks, Bitcoin has been on a road to recovery following an extended bear market which endured for almost six months and has finally broken the crypto winter that led to the closing down of several companies and an atmosphere of pessimism within the general crypto industry. This progress is not limited only to the price of Bitcoin itself but also to the prices of other cryptocurrencies and of course with Bitcoin hash rate. The hash rate is currently at its highest points ever in recent times with reported figured being 62,246,627 TH/s which mirrors the increase of the price of Bitcoin has seen.

Now according to blockchain.com, on June 14, 2019, the hash rate of Bitcoin finally broke its all-time high after previously reading 61,866,256 TH/s on August 28, 2019. Since that time, the price of Bitcoin has grown 5.55% in its price growing from $7,750 to $8,180.08.

Bitcoin is also recording transactions 346,000 each day with the highest daily figure recorded topping 452,000 in May. While the price of Bitcoin has come out of a bear market and maintaining above $8000, it is seeing competition from litecoin which has seen 300% growth in 2019 and is also approaching its next halvening.

The Future Of Bitcoin

There are thousands of cryptos in existence and bitcoin is certainly not alone in the complex crypto market but has seen certain advantages that will enable it to succeed in the future. The first of these is the fact that bitcoin is currently the most popular currency in the world and according to Jack Dorsey, the co-founder of Twitter and Square Inc, bitcoin is still the strongest contender for becoming the go-to currency of the Internet.

However, with the upcoming Libra coin that is to be launched by Facebook, there is debate over whether or not bitcoin can withstand the competition and maintain its dominant position. While Facebook has an inbuilt audience that is in the billions of people, there is some uncertainty within the crypto community as to whether or not the company can be trusted to provide a truly decentralized token considering their previous history of exploiting user data. For some, that only represents an attempt by large corporation to get in on the crypto market while not staying true to the ideals that have been in the market since Inception.

While Bitcoin is a truly decentralized effort and does not necessarily have a big company behind it, it is still seeing adoption throughout the world and appears to be entering its next phase of maturity. If the current figures are anything to go by, bitcoin is increasing growth in popularity due to the increase in transactions orders and is also seeing an increase in its hash rate which can be seen as an indicator of steady progress that could remain into the next decade of its existence. While the market is unpredictable and there are many competitors entering every day, it seems Bitcoin is here to stay.

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

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Author: Tokoni Uti

Did the Coinbase Effect Just Get Beat Out by the Binance IEO Effect?

Did the Coinbase Effect Just Get Beat Out by the Binance IEO Effect?
  • The Binance Launchpad has been causing token prices to surge upon listing.
  • So far, the launchpad has only listed five tokens.

Many people are aware of the Coinbase Effect, which is an interesting phenomenon that allows cryptocurrencies to surge in price around the time that they are listed with Coinbase.

This effect has been attributed to Coinbase’s positive reputation, but there are also suggestions of insider trading driving the price increases. Now, with Binance’s new launchpad for IEOs, it looks like the same can be said of this platform as well.

The biggest way for companies to bring in revenue for their altcoins happened originally in 2017 with the ICO boom. However, as multiple coins managed to gain significant funding without so much as an actual product, the SEC ended up cracking down, leaving the market to find other investment methods for anyone seeking to launch crypto assets, which included both Security Token Offerings (STOs) and Initial Exchange Offerings (IEOs).

IEOs started growing in popularity, thanks to the many launches of Binance. Binance quickly migrated their Binance Coin (BNB) from Ethereum to their own blockchain ledger, which was followed by their announcement to let other tokens do the same. After BNB was launched on the mainnet, Binance DEX came next, along with the Binance Launchpad for IEOs.

The Launchpad has been incredibly successful since it was implemented. On January 31st, BitTorrent’s token sale launch commented, bringing in $7.2 million within 15 months. The Fetch.AI token, the second launch, only took 22 seconds to sell out, establishing a $6 million hard cap.

IEOs provide a level of trust that the ICOs of 2017 didn’t have, primarily because it has started to reintroduce centralization. There is a centralized authority over it with Binance. At this point, the Binance Launchpad has launched a total of five tokens, other than the Bread token, which includes BitTorrent, Fetch.AI, Celer, MATIC, and Harmony.

https://ambcrypto.sfo2.digitaloceanspaces.com/2019/06/final2-768x178.png

https://ambcrypto.sfo2.digitaloceanspaces.com/2019/06/final2-768x178.png

The table above, published by AMB Crypto, shows the percentage that the token prices rose when the exchange decided to list them. For example, BitTorrent’s tokens were originally sold at $0.001865 with the public sale, which was its peak price. Fetch.AI is unfortunately down by 78% since the launch, though it rose by 294% at its peak price.

Clearly, the prices were positively impacted with the listing on the Binance Launchpad, much like the way that the Coinbase Effect has worked.

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Author: Krystle M

Reserve and Chainlink Partner to Strengthen the Future of Decentralized Stablecoins

Reserve and Chainlink Partner to Strengthen the Future of Decentralized Stablecoins
  • Chainlink has been considered to be an industry leader when it comes to providing reliable data feeds that can be used for smart contracts.
  • Reserve will be utilizing Chainlink to help make the protocol that they rely on be more secure for users and also be able to accelerate the development timeline.

A Secure and Reliable Network is Needed for Success

Having a robust and dependable Oracle network is very important for any stablecoin design. These are smart contracts that have been incorporated with the stablecoin protocols, which become only as effective as the price data, that is used to regulate their behavior. Therefore, it is crucial for a company to get this step of implementation right as it aids in the success of the coin.

A reserve protocol requires to have reliable price data to ensure it can maintain the 1:1 peg against the US dollar, this is achieved by monitoring the reserve stablecoin constantly against the dollar. But this is not all as it will require adequate management of the portfolio of the current collateral tokens that have been used to back the Reserve Token.

“Natural” Industry Partners

The Co-founder and the CEO of the Reserve, Nevin Freeman, notes that he sees both the Reserve and Chainlink as being natural partners in the industry. As they are both able to build critical pieces that are needed for the decentralized infrastructure, making both part of the great movement.

Thus, without proper on chain price feed being offered, most dApps will not be able to work without them. He goes on to state the following.

“We’re very excited about stablecoins and their potential to make crypto a medium of exchange. Projects like Reserve are taking seriously the task of making crypto practical for daily transactions in the parts of the world that need it most.”

Since the launch of Chainlink, the Reserve team has been following very carefully, and from this, they considered the company to be the best option in using them as a reliable oracle solution.

Chainlink Considered A Community Leader

Chainlink has been established as a decentralized oracle network, that allows the smart contracts to access the off chain data feeds securely, traditional bank payments together with the web APIs.

A platform that is being selected as the top blockchain technologies by the leading firms within the community; the likes of Gartner.

[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: Lorraine M

Ravencoin Prediction: Long-term (RVNUSD) Value Forecast – June 11

Ravencoin Grows 20% And Continues to See RVN Token Surge in the Crypto Market

• Ravencoin is in a long-term bearish trend.

• There has been some bullish effort in recent times, which is not strong enough to override the major bearishness in the market.

• Supply zones: $0.07, $0.075, $0.08
• Demand zones: $0.055, $0.05, $0.045

RVNUSD Long-term Trend: Bearish

RAVECOIN is in a downward trend in its long-term outlook. $0.068 in the supply area as the high of the day was attained yesterday by the bulls. However, the close of the day at $0.067 with a wick candle suggests exhaustion of the bullish momentum, hence bears brief return.

The bears’ pressure on the coin led to a drop in price to $0.062 with the formation of a bearish candle at the lower demand area of the market. The momentum in price continues in a downward trend as it journeys down south around $0.062 in the lower demand area. This indicates the sellers are coming into the market in a grand style.

Price is below the exponential moving average 4 around the lower demand area, which suggests a downward momentum in the price of Ravencoin.The stochastic oscillator is pointing downward around the level 50%, an indication that the price is coming down gradually.However, patience coupled with a retest is needed before a position is taken.

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 M

Crypto.com Chain Price Prediction Today: Daily (CRO) Value Forecast – June 6

  • CRO/BTC trade has been trading in a range with a weak moving force.
  • The bulls are expected to make a come-back in the CRO/BTC market in near time.

CRO/BTC Medium-term Trend: Ranging

  • Resistance levels: $0.90, $1, $1.10
  • Support levels: $0.50, $0.40, $0.30

The market valuation of Crypto.com Chain versus the BTC has been basically featuring different moves in a range. The choppy price movements have been showing up around $0.080 and $0.60 price levels.

Equally, the market movements have been so weak in their moving force. All the trading indicators are also found trending almost towards the east direction. The stochastic Oscillators are now deeply consolidating within the overbought zone.

The crypto-market may still have to dip slightly further to have a good sitting formation that the bulls may eventually build upon. However, the bears’ moving force may tenderly be on in achieving that price formation.

CRO/BTC Short-term Trend: Ranging


Today’s trading activities of CRO/BTC market have been coming in a range executing manner. The market’s short-term trend chart depicts its range spots around $0.70 and $0.60 marks. The Bollinger Bands are located underneath the 50-day SMA. The Stochastic Oscillators are now in a consolidation moving mote around the overbought zone.

The CRO/BTC trade now appears getting slow in the price movements to the southbound. As a result, the bulls are expected to make a notable come-back as soon as the bears fail to hold their driving force past the Bollinger Lower Band trend-line. Investors may consider joining the crypto-economy now.

Crypto.com Chain: 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 M

WAVES Price Prediction Today: Daily (WAVES) Value Forecast – June 5

Waves-is-Looking-to-Raise-a-Whopping-USD-120-Million-Via-its-Private-Funding-Round
  • WAVES/USD trade has been moving in a consolidation manner to the south.
  • Placing or joining the WAVES/USD market now seems to call for an indecision trading psyche.

WAVES/USD Medium-term Trend: Bearish

  • Distribution territories: $2.80, $3, $3.20
  • Accumulation territories: $2, $1.80, $1.60

Waves price valuation hasn’t been able to come out of the slight selling pressure been exerted on it by the US dollar. As at now, the market movements to the south have been slowing down around the Bollinger Lower Band’s trend-line.

The 50-day SMA is located over the Bollinger Middle Band with a small space between them. The Stochastic Oscillators are now consolidating around range 20 to indicate that the downward market movement seems not to have been exhausted fully.

The cryptocurrency may soon begin a pull-up moving style to find a price point around the Bollinger Middle Band and the 50-day SMA that could suit the bears’ entry once again.

WAVES/USD Short-term Trend: Ranging


In the short-term run of the WAVES/USD market, price line has been dominated by a different number of lower lows than lower highs. The reason for that is justifiable by the fact that most of the crypto’s trading operations have been carried out below the trend-line of the 50-day SMA indicator.

The Bollinger Bands are as well flatly trending toward the east direction. The Stochastic Oscillators now attempting to crosshairs at range 40.

The market may continue to rise and fall in a range moving manner as long as the 50-day SMA is located over the market trading area. However, a break out of the SMA indicator could be an important notification that the bears would be losing out in energy in near time.

Waves:

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 M

Big Banks Band Together To Launch Blockchain Trading Solution with Its Own ‘Bitcoin’-esque Token

Big Banks Band Together To Launch Blockchain Trading Solution with Its Own 'Bitcoin'-esque Token

While the banking industry has been one of the most hostile industries when it comes to blockchain technology and Bitcoin in the early stages – that hasn’t stopped them from taking over some sizeable corner of the market for their own.

An increasingly substantial number of financial companies, being headed up by the multinational UBS Group AG have been setting their sights firmly on the application of blockchain technology in the aid of creating a streamlined, low-cost and high efficiency cross-border trading solution, powered by its own blockchain and its own ‘Bitcoin’ token.

Among the financial institutions involved in this ambitious project includes – Barclays, Nasdaq, Credit Suisse Group, Banco Santander, ING, and Lloyds Banking Group. Each of these have since registered themselves as part of a collaborative entity, with more to potentially join.

Each of these organizations will be involved in the development of a unique token, known as a ‘utility settlement coin’ or a USC, according to an international news source.

More than just placing a tenuous interest in this cross border payments solution, these financial behemoths have since officially poured more than 60 million dollars into this international organization – known more broadly as Finality International.

It doesn’t come as too much of a surprise, considering that this token has been in steady development for more than 4 years, and will serve as a joint payment device as well as a “messenger that carries all the information required to complete a trade,” according to the report.

This new kind of permissioned blockchain solution will attempt to significantly reduce the kind of risks associated with cross border payment solutions, while also increasing the speed in which they are completed. According to the UBS head of investment strategy – Hyder Jaffrey discussed the kind of benefits that this solution would provide –

“You remove settlement risk, the counterparty risk, the market risk,” Jaffrey continues. “All of those risks add up to costs and inefficiencies in the marketplace.”

Along with the more than 14 international financial companies previously mentioned, some of the newer partners to this cross-border solution include major national banks such as Bank of New York Mellon Corp., Canadian Imperial Bank of Commerce , State Street Bank & Trust Co., Commerzbank AG, KBC Group NV, Mitsubishi UFG Financial Group Inc., and Sumitomo Mitsui Banking Corp.

Each of these major banking institutions has since announced that they will be making use of the USC token in the foreseeable future.

According to reports, this platform is forecasted to launch worldwide within the next 12 months, which is further substantiated by previous reports which suggested that it would be put completely into action as of 2020.

While this represents one of the more ambitious, globe-trotting projects from financial institutions – there is no inkling whether or not USC provides more utility and represents something resembling a cryptocurrency more than JP Morgan’s token does, however.

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Author: James F

XRPL Monitor Reveals Over 10 Million XRP Coins (Worth $4.5 Million) Sent to a Coinbase Pro Account

XRPL Monitor Reveals Over 10 Million XRP Coins (Worth $4.5 Million) Sent to a Coinbase Pro Account

XRP data compiler, XRPL Monitor has recently been active on Twitter with updates regarding XRP token moves across different wallets. This seems to have occurred with other cryptocurrencies including Bitcoin [BTC] and Ethereum [ETH] as well, however, it’s the XRP token amounts that have had a shocking effect.

As per AMB Crypto’s reporting, on Tuesday, May 28, 2019, some 10 million XRP tokens have since been moved to a Coinbase Pro Account with as little as 20 drops, which is equivalent to 0.00002 XRP.

The news outlet further noted that the account in which said amounts originally belonged to, had an address of rH51tppA1cF5J75GS6MqaJhJQFm2PPXG2. Many crypto fanatics seem to have also expressed concern in said moves. Particularly, AMB Crypto referenced George Leithead, who was surprised to see a balance of 0, considering that there should be, “a minimum for all wallets (more for multi signature wallets).”

However, another XRP fanatic resolved the aforementioned concern by sharing the following:

“A wallet can go below the reserve if it’s the tx fee that takes it below that threshold. The account is still active in the sense other accounts interact, but it is no longer able to make txs itself until it is funded back over that reserve.”

At the time of writing, CoinMarketCap show XRP’s current value as being USD$0.445682 with a volume of USD$2,667,654,313.

[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: Nirmala Velupillai

Bitcoin’s Ten Years Young and Is Already Taking Conventional Investments to School in 2019

Bitcoins-Ten-Years-Young-and-Is-Already-Taking-Conventional-Investments-to-School-in-2019

2019 has been the year of crypto assets where it has outperformed most of the traditional assets such as oil, gold, and popular stocks. While 2018 was the year of the bearish trends, 2019 is highly bullish. The crypto market was expected to spring back and rise in value with an impending bull run on the cards. However, analysts were predicting the rise of the crypto market towards the end of 2019, but bulls arrived as early as April which has doubled the market cap of cryptocurrencies by double since the start of the year.

The total market cap of crypto space stands at a quarter of a trillion dollars and the daily trading volumes of the digital assets are touching as high as $80 billion. In comparison, traditional assets like oil are up by 29% in 2019, which is followed by popular stocks such as Nasdaq up by 15%, S&P up by 13%, Dow Jones up by 10%, and the Nikkei is up by 6%. While Gold has seen a mere surge of 0.46%.

While it is unfair to compare the traditional assets with the digital ones since cryptocurrencies are known to be volatile, where both the dips and highs are equally massive. During the recent surge in the crypto space starting in April, some assets such as Bitcoin Cash made 50% gains on a single day, which tells a lot about the volatility of these assets.

The 2017 rise of Bitcoin was surely phenomenal which took its prices from $750 to near $20,000 in December. Similarly, the downfall throughout 2018 saw Bitcoin, as well as the crypto space, lose more than 80% of their overall market cap.

The Changing Landscape of Digital Assets

2018 might have been a forgettable year for the crypto investors, however, the bearish trends of 2018 cut down the high-volatility of the crypto space, paving the way for traditional and institutional investors to make a foray into the digital asset arena. In 2019, the cryptocurrency market is stronger than ever before as more people have shown interest and are dumping traditional assets for the digital ones.

If we look at the gains made by some of the crypto assets it comes out to be more than most of the traditional assets combined. The biggest gainer in the digital arena is Binance Coin (BNB), which has surpassed its all-time-high record twice in the last month itself. BNB started the year at $6.19 and currently trading at $33.68. Litecoin has added around 265.85% to its value from the start of the year. Bitcoin Cash (BCH) the forked sibling of Bitcoin has also risen 186% taking its value from $150 at the start of the year to the current price of around $432.

Cryptocurrency Market Is Thriving and Prices May Go Further Up

2019 has been predicted to be the year of bulls, after bears dominated throughout 2018. The overall market cap of the cryptocurrency market stood at $125 billion at the start of the year, and currently, it is at $273 billion, seeing an increase of 118%. The daily trading volumes have risen a massive 500% from the start of the year as well. On January 1st the crypto space traded $12.6 billion worth of crypto assets and that trading volume jumped to 83 billion by 28th of May seeing a massive surge of 558%.

Bitcoin, the pioneer of the cryptocurrency space was only the sixth largest gainer with a 132% rise in value from the start of the year. Bitcoin started the year at $3,746 and currently trading at around $8638 after seeing a minor price correction earlier today.

The cryptocurrency space has not just made tremendous gains in terms of the value, but also as the preferred investment option over traditional assets. Various trust management and hedging firms have confirmed that new and upcoming traders want to swap their gold reserves for Bitcoin.

The current price movement in the crypto space is speculated to rise further throughout 2019, as the price charts, and key metrics suggest that Bitcoin and other altcoins are mimicking the patterns of 2017 rise. While there have been several speculations about the crypto market seeing another bottom before a full-fledged bull run takes charge, there are many who believe that the market has already passed the bottom, and prices would only go further up.

The best part about the current surge is that most of the naysayers and long term critiques have come around to join on the crypto bandwagon, having realized that the crypto space is thriving and here to stay.

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Author: Bitcoin Exchange Guide News Team