ECB Board Member is “Extremely” Concerned about Facebook’s Libra’s High Centralization, Shills Fiat Money

  • Ignore “treacherous promises” of the Facebook
  • Libra could reduce ECB’s control over the Euro
  • Highly centralized which is extremely concerning

Facebook’s proposed cryptocurrency called Libra — scheduled for release in the first half of 2020 — according to European Central Bank’s board member Yves Mersch undermines ECB’s ability to set monetary policy.

Mersch said Europe should ignore “treacherous promises” of the same people that had to explain themselves in front of the legislators on the threat of democracy resulting from their handling of personal data.

“Depending on Libra’s level of acceptance and on the referencing of the euro in its reserve basket, it could reduce the ECB’s control over the euro, impair the monetary policy transmission mechanism by affecting the liquidity position of euro area banks, and undermine the single currency’s international role,” Mersch said on Monday.

Don’t be tempted to ignore Euro in favor of Facebook’s siren call

Facebook announced its plans for a new digital coin earlier this year that will be backed by four fiat currencies.

Just like regular currencies, Libra would be highly centralized which is an “extremely concerning” set up, he said because unlike fiat money Calibra — fully owned subsidiary of Facebook that will manage Libra-based payment services — is only accountable to shareholders.

Talking about legal and regulatory challenges with Libra, Mersch said whether it classifies as e-money, as a financial instrument or as a virtual currency is one of the challenges.

As such, European regulatory and supervisory authorities need to establish jurisdiction over Libra and requires cross-border cooperation and coordination to mitigate its risks.

“I sincerely hope that the people of Europe will not be tempted to leave behind the safety and soundness of established payment solutions and channels in favor of the beguiling but treacherous promises of Facebook’s siren call,” Mersch added.

Most credible form of money is backed by strong institutional backing

He might have pointed out the differences between Libra and cryptocurrencies and issues with its so-called stablecoin, but this only lead to him shilling the fiat currencies.

“The notion of stateless money is an aberration with no solid foundation in human experience,” he said.

Money according to him can only inspire trust and fulfill its key socioeconomic functions if it is backed by an independent but accountable public institution.

“Of the various forms that money has taken throughout history, those that have best fulfilled their purpose and proven the most credible have invariably benefited from strong institutional backing.”

He said only a central bank can issue reliable forms of money, so

“private currencies have little or no prospect of establishing themselves as viable alternatives.”

The fact that crypto can only fulfill some of the functions of money, it will serve as “useful reminder of central banks’ pivotal role as responsible stewards of public trust in money,” he said.

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Author: AnTy

US Treasury Blacklists BTC and LTC Wallet Addresses Said To Be Owned by 3 Chinese Drug Kingpins

The government of the United States, via the Treasury Department’s Office of Foreign Assets Control (OFAC), has decided to blacklist three crypto addresses this week. According to the institution, the owners of these crypto addresses were guilty of money laundering and drug smuggling.

According to the OFAC, Fujing Zheng, Xiaobing Yan and Guanghua Zheng were all determined as “drug kingpins”. All their U. S.-related assets were frozen, as well as their email accounts.

As you cannot simply seize the assets of a crypto wallet, the addresses of several Bitcoin wallets and one Litecoin wallet related to the Chinese criminals were blacklisted. This means that no organization that does not want to break the U. S. law can transact with them.

The OFAC affirmed that these people used Bitcoin in order to launder the money from their crimes and put it into banks that were based in either China or Hong Kong.

Sigal Mandelker, from the financial intelligence unit of the government, affirmed that these three people were involved in a significant international operation of drug trafficking. He also affirmed that they were directly responsible for the opioid crisis that is affecting the United States by shipping hundreds of packages full of drugs to the country.

This is only the second time that the entity decided to blacklist a wallet. Doing this is still considered somewhat rare, mostly because the government is not so used to deal with crypto yet. The first time that something like this happened was in November 2018 when two Iranian men were accused of being related to a ransomware scam.

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Author: Hank Klinger

Tether Stablecoin Wallet Analysis Shows 318 Wallets Control 80% Of All USDT In Existence

Tether-Stablecoin-Wallet-Analysis-Shows-318-Wallets-Control-80-Of-All-USDT-In-Existence

Centralization is a well-known problem of crypto markets. People often referred to as whales control a fifth of some markets and have the strength to promote manipulation whenever they want to.

Tether, however, seems to be facing an even worse situation: only 318 crypto addresses actually control 80% of the circulating supply of Tether (USDT). The discovery was made by Coin Metrics.

According to John Griffin, a University of Texas professor who was interviewed by Bloomberg, these players are actually Bitcoin manipulators. According to him, they own a huge amount of Tether in order to swing the prices the way they want to, using it to buy Bitcoin whenever they want to spike prices. They could also obviously manipulate Tether’s markets easily.

Studies reveal that 40 to 80% of all the transactions that were made on Binance and Huobi recently were made with Tether. The token is also often used in several smaller exchanges as well. This shows just how influential these few whales are. They may actually be some of the most important traders in the crypto market, hidden in plain sight behind their wallets.

The founder of Coin Metric, Nic Carter, confirmed that several of these large Tether holders cater to the Chinese market and to high-frequency traders, too

When we consider that a person can have more than one wallet, the market looks even more concentrated than before. Instead of having 300 whales, there are probably less than half of that, maybe even less than a hundred.

What does this mean for the crypto market? It means that manipulation may be even more prominent than many small-time investors believed, which is not very good 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.

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Author: Bitcoin Exchange Guide News Team

RAVENCOIN Price Prediction Today: Daily (RVN) Value Forecast – July 26

Ravencoin Grows 20% And Continues to See RVN Token Surge in the Crypto Market
  • The bears are in control of the short and medium-term outlook.
  • Responsible selling recommended.

Supply zone: $0.07000, $0.08000, $0.09000
Demand zone: $0.01600, $0.01500, $0.014000

RVNUSD is in a bearish trend in the medium-term outlook. The bears stage a return as yesterday market opened at $0.05081 in the supply area and the 4-hour candle closed a bearish spinning top. $0.04545 in the demand area was the low as the session ended on a bearish note with an inverted hammer at the 50.0 fib a trend reversal zone.

Today 4-hour candle at $0.04735 sustained the bears’ pressure with a further drop in the cryptocurrency price to $0.04504 in the demand area.

Price is below the two EMAs and within the 38.2 fib a trend continuation zone, its suggest a continuation in the downward price movement in the medium-term. Furthermore, the signal of the stochastic oscillator points down at 33% a downward momentum in price been confirmed.

$0.04200 in the demand area is on the card as the bears’ journeys down south in the medium-term.

RVN/USD Short-term Trend: Bearish

The correction to the bearish impulsive movement that from $0.04881 in the supply area during yesterday session dropped the coin to $0.04514 after today’s opening session is currently ongoing.

The coin is in a consolidation phase, this is a confirmation of bearish continuation in the short-term.

Price is below the two EMAs an indication of bears pressure with the target initially at $0.04400 after the breakdown from the lower line of the range is anticipated 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

SKYCOIN Price Prediction Today: Daily (SKY) Value Forecast – July 19

Binance Lists Skycoin (SKY) to Cryptocurrency Exchange, Price Spikes
  • The bulls are in control short and medium-term outlook.
  • Traders may look to buy at pullback areas.

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

SKYUSD is in a bullish trend in the medium-term outlook. With a large bullish candle at $1.07 on 17th July, the bullish momentum has just begun with $1.23 and $1.35 on 17th and 18th July respectively.

Today’s opening price at $1.32 closed a bearish spinning top an indication of bears returned. The cryptocurrency dropped to $1.22 in the demand area. The bulls are back as indicated by the reversal signal at the closed of the 4-hour candle. This area is the 38.2 fib area a trend continuation zone suggesting the resumption of bullish continuation.

Price is within the two EMA with the stochastic oscillator signal parallel at 78% suggesting a brief consolidation before the upward price movement. $1.35 in the supply area is up for a retest and subsequent breakout most probable.

SKY/USD Short-term Trend-Bullish

The cryptocurrency is in an uptrend in the short-term outlook. The lower and upper line of the channel has been good support for the bulls and resistance for the bears. The bears stage a return at the resistance as the market opens today at $1.34.

SKYUSD fell to $1.22 at the lower line of the channel which was strong support for the bulls with the break of the resistance at the two EMAs rise in the cryptocurrency to $1.30.

The stochastic oscillator signal is pointing up at 60% suggesting upward momentum with $1.36 in the upper line a target.

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

TRON Price Prediction: Long-term (TRX) Value Forecast – July 13

TRON-Weekly-Update-Shows-The-Rise-In-Their-dApp-Performance-Active-Users-Over-700K-Now

• The bears are in control of the long-term outlook.
• Traders may consider selling after pullbacks with bearish candle reversal pattern as confirmation

TRX/USD Long-term Trend: Bearish

Supply zone: $0.0500, $0.06000, $0.000
Demand zone: $0.01000, $0.00800, $0.00600

Tron long-term outlook is a down-trending market. The bears were back in control within the range after the bullish exhaustion at $0.03579 on 8th July. The break of the resistance of the two EMA confirmed the bears’ takeover as price fell further to $0.03106 within the range on 10th July.

The large bearish candle at $0.03190 broke the lower demand area as price fell to $0.02690 in the demand area on 11th July which is the low of the week.

Price is below the two EMAs crossover with the signal of the stochastic oscillator pointing down at 15% in the oversold region which suggest downward movement in price the days ahead.

$0.02400 in the demand area is a key demand area and may be retested as the bears continue the journey down south

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

MONERO Price Prediction: Long-term (XMR) Value Forecast – July 13

Cyber Threatscape Says Crypto Mining Malware Using Monero (XMR) Will Grow in 2019

• The bears are back in control of the market
• Traders may consider selling with bearish candle reversal pattern as confirmation

XMR/USD Long-term Trend: Bearish

Supply zone: $140.00, $180.00, $220.00
Demand zone: $40.00, $20.00, $10.00

XMR is in a bearish trend in its long-term outlook. The week began on a bullish note a continuation of the previous upward price movement with a large candle at $94.44. The trendline was broken and price rose initially to $107.69 and later to $108.64 in the supply area before momentum loss on 9th July.

The bears gradual returned was a drop of the coin to $9745. Increased bearish momentum led to the breakdown at the support in the trendline and the two EMA. XMRUSD plunges down to $87.00 in the demand area.

A retest of the broken trendline as the bulls pushed price back up to $98.34. This was a market correction and confirmation of the bearish continuation in the long-term.

Price is below the two EMA and the stochastic oscillator signal points down at 40% which suggest downward momentum in price.

$80.00, a key demand area may be retested as the journey down south continues in the dew week.

The views and opinion as 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

Litecoin Price Prediction Today: Daily (LTC) Value Forecast – July 11

Litecoin (LTC) Second Block Reward Halving Is 4 Weeks Away, How Will The Market React?
  • The bears are still in control as the price nosedive to a low at $103 price level.
  • On the  upside, if the $103 price level  is held, the bulls will attempt to break the EMAs to reach the bullish trend zone.

LTC/USD Medium-term Trend: Bearish

  • Resistance Levels: $140, $150, $160
  • Support levels: $100, $90, $80

Yesterday, July 9, the price of Litecoin was in a bearish trend as the bears break below the 12-day EMA and the 26-day EMA. In retrospect, on June 23, the crypto’s price was resisted as a result of the bull’s inability to break the $140 overhead resistance level. The bears are still in control as the price nosedive to a low at $103 price level.

This was the previous low of June 4, where the LTC price made an upward move to retest the $140 price level. On the  upside, if the $103 price level  is held, the bulls will attempt to break the EMAs to reach the bullish trend zone.   On the downside, if the bearish pressures continue, the LTC price will further depreciate to a low at $88. The MACD line and the signal line are above the zero line which indicates a buy signal.

LTC/USD Short-term Trend: Bearish

On the 1-hour chart, the LTC price is in a bearish trend. The 12-day EMA and the 26-day EMA are trending southwardly. The LTC market was ranging below the $122 price level. On July 10, the bears broke the 12-day EMA and the 26-day EMA The MACD line and the signal line is below the zero line which indicates a sell signal.

Litecoin’s price is $101.79 LTC/USD exchange rate today. The real-time LTC market cap of $6.37 Billion currently ranks #4 with , daily trading volume of $1.53 Billion and live coin value change of LTC -5.85 in the last 24 hours.

Latest Litecoin Price Analysis, Chart Forecasts and Blockchain News

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

BINANCE COIN Price Prediction: Long-term (BNB) Value Forecast – June 30

Binance-Coin-Trades-for-a-Record-High-Price-as-BNB-Crypto-Token-Sees-Best-15-Month-Value-Point

• The bulls remained in control of the long-term outlook.
• $45.00 in the supply area is on the card.

BNB/USD Long-term Trend: Bullish

Supply zone: $60.00, $80.00, 100.00
Demand zone: $10.00, $8.00, $6.00

BNBUSD continues in a bullish trend in the long-term outlook. The coin was up at $43.15 in the supply area as the week began before the rest the trendline as predicted. The bears’ pressure pushed price down to $39.99 at the trendline on 26th June while price shot up back up to $42.19 in the supply.

$27.06 in the demand area was the low of the week attained on 27th June with the daily candle closing as a bearish spinning top but the bears could not push further down.

Price is above the 50-EMA while the signal of the stochastic oscillator is undefined at 43% suggesting a sideways market before bullish continuation in the long-term in days ahead.

A retest of the previous high of 22nd June at $43.19 in the supply area may occur as the bulls’ pressure becomes much stronger and more candles opened and closed above the two EMAs

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

NEO Price Prediction: Long-term (NEO) Value Forecast – June 30

Look-Out-NEO-3-0-Update-To-Be-Released-During-the-2nd-Seattle-DevCon-Says-Co-Founder

• The bulls remained in control of the long-term outlook.
• Traders may consider buying with bullish candle reversal pattern as confirmation

NEO/USD Long-term Trend: Bullish

Supply zone: $25.00, $30.00, $35.00
Demand zone: $2.00, $1.00, $0.50

NEO continues in the bullish trend in its long-term outlook. The bullish trend continues as predicted in last week long-term article. The $20.00 target in the supply area was successfully retested on 26th June.

The cryptocurrency rose to $20.00 before the momentum loss that made the bears returned as indicated by the daily candle which closed as a bearish spinning top good reversal signal.

The market correction was necessary as the bears pushed the coin to $15.96 in the demand area on 27th June which is the 38.2 fib area a trend continuation zone. Hence the return by the bulls as and push price back up to $18.76 in the supply area. The week ended on a bullish note.

The signal of the stochastic oscillator points down at 65% suggesting a downward momentum. The 38.2 fibs at $15.96 in the demand area may be the bears’ target before the upward continuation.

$24.00 in the supply area is a key supply area for a retest in the days ahead.

The views and opinion as 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