Mike Novogratz Praises China’s President Blockchain Remarks, Giving Crypto Real Credibility

At the Reuters Global Investment Outlook 2020 summit in New York on November 5, Mike Novogratz spoke about the future of cryptocurrency.

Mike Novogratz, the CEO of Galaxy Digital, is a long-term blockchain investor and advocate. Despite the crash in the prices of crypto last year which made him readjust his expectations, Mike continues to remain optimistic about the future of digital assets.

“I think ambitions have been tempered a little bit by reality,” he said commenting on the progress of blockchain.

“I think the timing is going to take longer than people had hoped. But it’s going to happen.”

The sudden fall in crypto prices last year was marked by many touting it as just another bubble. However, Mike believes that in the future, cryptocurrencies will play a huge role in our everyday lives.

The initial coin offerings had hit the market peak in 2018 at a whopping $800 billion. Since then cryptocurrencies have tanked and wiped away 85 percent of their total market value.

As the founder of a company that invests in crypto, Novogratz, affected by such a dramatic fall in the prices last year said that he was probably “too greedy” as his company relied on hedging strategies that did not fully protect investors.

He mentioned the Libra project that seeks to integrate blockchain technology into existing financial services. Talking about the sudden controversies surrounding Libra, he believes that Facebook could have spared itself a lot of flak had it described the project as a payment tool instead of a global currency.

He also believes that the recent comments by Chinese President Xi Jinping on blockchain were responsible for the surge in bitcoin prices. Last month the President had urged his people to embrace blockchain technology, however, China’s state publication was quick to point out that President’s comments were not supposed to be confused with the state’s stance on cryptocurrencies.

Though crypto trading continues to remain formally banned in China, on November 6, China took a step towards crypto by declaring that mining crypto would no longer remain undesirable in the country. It would perhaps not be too far fetched to believe that China’s central bank might perhaps be the first to launch a digital currency successfully.

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Author: Sakshi Jain

Brilliant Brexit Plan: Public Holiday & Bitcoin While UK Economy Shrank for the First Time in 7 years

  • Brexit crisis and the uncertain global outlook left Britain’s economy on a “knife-edge” for the 3rd quarter
  • Brexit will cement Bitcoin’s safe haven status

Michael Gove, the Chancellor of the Duchy of Lancaster and the person in charge of no-deal preparations said the government is considering the idea of holding a bank holding on November 1.

Amidst the concern regarding that a no-deal Brexit would cause turmoil on the financial markets, Gove told The Times,

“I don’t know if this is a good idea at all. Tell me if it isn’t. What about a bank holiday?”

Leaders told Gove a holiday on November 1 would be beneficial to the UK economy, a day banks will be closed in France.

“A bank holiday on November 1 is not government policy and will not happen,”

said a Downing Street spokesman.

Bitcoin bull Max Keiser says Bitcoin is the answer to Brexit woes,

“Brits are insane. If you’re not HODL’ing by now, you’re about to get obliterated,”

Tweeted Keiser over Gove’s holiday plan.

UK Economy Contracts for the First Time Since 2012

The effects of Brexit can already be seen as the British economy contracts unexpectedly for the first time since 2012, in the second quarter as Prime Minister Boris Johnson prepares to leave EU with or without a deal.

In this startling economic warning sign since 2016 Brexit referendum, GDP fell at a quarterly rate of 0.2%. Year-on-year economic growth dropped to 1.2% from 1.7% in the first quarter, the weakest since the start of 2018.

“The economy is stalling,”

PwC senior economist Mike Jakeman said. He further said the Brexit crisis and the uncertain global outlook left its economy on a “knife-edge” for the upcoming quarter.

June manufacturing data was poor and output contracts for the quarter at the fastest rate since early 2009, when Britain was mired in recession.

Many investors say a no-deal Brexit would tip Brexit into a recession, weaken London’s position as an international financial center and send shock waves through the world economy.

Ever since the 2016 EU referendum, the pound has also plunged, after the result was announced, it suffered the biggest one-day fall since the early 1970s.

Sterling has fallen to $1.2080, against the euro the pound sank to a new two year low.

Brexit will Cement Bitcoin’s Safe Haven Status

Google searches have already risen to their highest levels in England in a year. Boris Johnson’s appointment to the role of UK Prime Minister has coincided with a spike in Google search for the term Bitcoin.

According to Nicholas Gregory, CEO of blockchain firm CommerceBlock, no-deal Brexit will cement Bitcoin’s safe haven status as such a departure from the EU will create “turmoil and volatility across two major fiat currencies” further triggering identity crisis for the global system.

“Come 2020, we expect an increasingly populist and politically unstable world to cement the safe haven status of Bitcoin and other cryptocurrencies more generally,”

he said.

“And if central banks revert to ramping up the money printing all over again, the case for cryptocurrencies like Bitcoin whose supply is capped will be further reinforced.”

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Author: AnTy

Bitcoin Forming Bullish Breakout Pattern; First Time Since 2016, Indicating A Major Rally Potential

  • Golden Cross is indicative of a bull market on the horizon
  • Macro Outlook: Perfect storm for bitcoin is brewing

The market has turned green after seeing losses for the past few weeks. Bitcoin has jumped above $10,000 currently up 3.15% while trading at $10,800.

As we entered into August, Bitcoin price started pumping on the back of Fed cutting down the interest rate for the first time since 2008 recession and US going for round two of the trade war with China.

Given the way things are going, we might be in for an even bigger surge in the near future as Bitcoin is forming a bullish pattern called Golden Cross. The last time we formed this gold cross pattern was in 2016 when started our way to a new bull cycle that would take us to the all-time high at $20,000 in December 2017.

Golden Cross is indicative of a bull market on the horizon

The golden cross is a pattern which is a bullish signal in which a short-term moving average crosses above a long-term moving average.

The most commonly used moving averages in this bullish breakout pattern are the 50-period and the 200-period moving average. As long term indicators carry more weight, the golden cross gives an indication of a bull market on the horizon and is supported by high trading volumes.

A golden cross is a three-stage process. The first stage requires that a downtrend bottoms out followed by the second stage where shorter moving average forms a crossover up through the larger one to trigger a breakout. This gives the confirmation of a trend reversal. The last stage is continuing upturned.

The golden cross is a technical chart pattern that gives an indication of the potential for a major rally. It can be contrasted with a death cross that indicates a bearish price movement.

Macro Outlook: Perfect Storm for Bitcoin is Brewing

In the short term, we would be seeing a lot of ups and downs but the macro outlook for Bitcoin is extremely bullish.

According to Delphi Digital’s latest report, Bitcoin’s narrative is shifting towards “digital gold,” driven by the growing risk of currency devaluation and rising geopolitical tension because of trade wars.

Meanwhile, global banks are in a race to cut interest rates amidst the backdrop of inflation and slowing economic activity. This week we saw the Federal Reserve cutting down interest rate by 25 bps.

As per Delphi Digital’s in-house macro strategist, the risk of recession in the US is rising fast. As for how Bitcoin will perform during that time, for which BTC lack historical precedent, the firm focuses on the gold performance that surged in value.

Moreover, the shift in sentiment for global banks is fueling a rally in risky stocks such as stocks. Bitcoin, meanwhile, is one of the best performing asset globally YTD.

“We believe BTC will benefit from secular + cyclical trends in the coming years.”

Bitcoin’s price is $10,828.69 BTC/USD exchange rate today. The real-time BTC market cap of $193.35 Billion currently ranks #1 with a chart dominance at 66.18%, daily trading volume of $5.08 Billion and live coin value change of BTC 3.58 in the last 24 hours.

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Author: AnTy

ZILLIQA Price Prediction Today: Daily (ZIL) Value Forecast – July 31

zilliqa

• The short and medium-term outlook is in a range-bound market.
• Patience is required trading the consolidation.

Supply zone: $0.02500, $0.02600, $0.027000
Demand zone: $0.01600, $0.01500, $0.014000

ZILUSD remains in consolidation in the medium-term. The bulls maintained the momentum within the range as markets opened today at $0.01083. The rally got price initially at $0.01156 and later $0.01168, above the upper supply area of the range but the candle closed within the range.

The exhaustion denoted by wick at the supply area imply takeover of the market by the bears as price drops to $0.01056.

Price is below the two EMAs and the stochastic oscillator points down at 52% suggesting downward momentum in price within the range in the medium-term.

ZILUSD is in consolidation and trading between $0.01150 in the upper supply area and at $0.009500 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

ZIL/USD short-term Trend: Ranging

The cryptocurrency is in consolidation in its short-term outlook. The bulls broke the upper supply area and pushed the coin to $0.01154 shortly after today’s opening at $0.01073. The bulls pushed price further high after a minor correction the retested the broken upper supply area.

Price is below the two EMAs at $0.010865 and the stochastic oscillator signal points down at 20% suggesting a downward movement in price within the range in the short-term.

$0.001100 is the upper supply area while $0.001000 is the lower demand area. A breakdown or breakout in price may occur, hence patience should be exercised before taking a position after retest.

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

CHAINLINK Price Prediction Today: Daily (LINK) Value Forecast – July 30

ChainLink-is-Dominating-Over-Other-Altcoins-in-the-Market
  • The short and medium-term outlook is in a bullish trend.
  • Traders may consider buying at pullback area.

Supply zone: $4.00, $4.50, $5.00
Demand zone: $2.00, $1.50, $1.00

CHAINLINK is in an uptrend in the medium-term outlook. The pinbar formation at $1.96 in the demand area suggests bearish exhaustion and trend reversal. $2.13 was the initial high. Increased bullish pressure pushed price further up at $2.20 with the breakout at the 10-EMA.

Price is above the two EMAs and the signal of the stochastic oscillator signal points up at 58%. These imply upward momentum in price with the target at $2.30 a key supply area in the medium-term.

LINK/USD Short-term Trend: Bullish

The short-term outlook of the cryptocurrency is in an uptrend. Though the bears had a brief control of the market as the market opens at $2.13 with a drop at $1.96 before exhaustion sets in. The bulls gradually set in with a breakout at the 10-EMA.

Price is up at $2.11 in the supply area. Increased momentum led to further upward price movement at $2.20 in the supply area above the two EMAs.

The signal of the stochastic oscillator points down at 60% an indication of minor drawdown reflected in the bullish flag currently been formed an indication of imminent bullish continuation.

$2.30 in the supply area is on the card as the pressure becomes stronger 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

HOLO Price Prediction Today: Daily (HOT) Value Forecast – July 29

New-Decentralized-Social-Media-App-Junto-Based-on-Holochain-HOT-Distributed-Computing-Model-is-Coming
  • The short and medium-term outlook is in a bearish trend.
  • Responsible selling recommended.

Supply zone: $0.004000, $0.006000, $0.008000
Demand zone: $0.001000, $0.000900, $0.000800

HOLO is in a bearish trend in the medium-term outlook. The bears retain dominance in the market at the beginning of another trading week with $0.001002 as yesterday low of the day. Today market opened on a bullish note at $0.001144. The coin had a brief rally as price rises to $0.001167 in the supply area.

The bearish momentum may be sustained due to the pressure from the bounce of the trendline. With price below the two EMAs currently at $0.001029 in the demand area. A new low is imminent before the end of today session.

The stochastic oscillator signal points down at 22% suggesting downward momentum in price.

HOT/USD Short-term Trend: Bearish

The cryptocurrency is in a downtrend in the short-term outlook. $0.001150 in the supply area is key resistance. Price rejection occurred in this area over the last two days. The bullish momentum as the market opens today at $0.001046 was lost at $0.001167 in the supply area before the bears took over the control of the market.

Price is above the two EMAs but the stochastic oscillator signal points down at 32% suggesting divergence. This implies that the downward momentum may return in as more traders are in the sell position as suggested by the stochastic oscillator.

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

MONERO Price Prediction: Long-term (XMR) Value Forecast – July 28

Monero-Fixes-All-Vulnerabilities-Found-During-Second-Audit-Of-Bulletproof-Protocol

• The long-term outlook is in the downtrend.

  • $72.00 in the demand area is the bears’ target in the new week.

XMR/USD Long-term Trend: Bearish

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

XMR remains in a bearish trend in its long-term outlook. The bears held on to the market during last week session with a drop to $78.43 in the demand area on 24th July. This is within the 23.6b fib area a trend continuation zone.

The resistance at the 10-EMA rejected further upward price movement at $83.71 in the supply area.

$83.71 in the demand area was the low of the week as the bears’ momentum increased.
Exhaustion denoted by wicks in the candles is seen in yesterday and today’s candles with today’s opening price at $83.71. The sustained pressure by bears has the coin down to $78.14 in the demand area.

Price is below the two EMA and the stochastic oscillator signal points down at 34% which suggest downward continuation in price in the long-term.

$72.00 in the demand area is on the card for a retest as the journey down south continues in the new 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

BINANCE COIN Price Prediction: Long-term (BNB) Value Forecast – July 28

Bitcoin-Dominance-to-Last-in-2019-Says-Binance-Survey

• The coin long-term outlook is a bearish trend.
• $24.00 in the demand area is on the card.

BNB/USD Long-term Trend: Bearish

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

BNBUSD is in a downtrend in the long-term outlook. The bears’ strong pressure on the coin led to the breakdown at the lower demand area of the range at $28.00 on twice on 24th and 27th July.

The bulls had a brief push back up at $30.13 on these two days. The week ended with the cryptocurrency dropping to $26.69 in the demand area.

The new week began opened at $27.69 with a brief retest at the broken demand area as price rose to $27.97. These confirmed the correction and resumption of the bearish momentum in the long-term.

Price is below the two EMA crossover and the signal of the stochastic oscillator points down at 48%. This suggests downward momentum in price in the new week with target initially at $24.00 in the demand area.

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

DECRED Price Prediction Today: Daily (DCR) Value Forecast – July 25

Empowering-Investors-Decred-Opens-Its-21-Million-Crypto-Treasury
  • The short and medium-term outlook is in a downtrend.
  • $26.00 remained a target for the bears.

Supply zone: $30.00, $32.00, $34.00
Demand zone: $15.00, $14.0, $13.00

DCRUSD continues in a bearish trend in the medium-term outlook. The bears lost momentum at $26.32 in the demand area on 24th July few pips short of $26.00 target predicted. The bulls gradually stage a returned that pushed the coin up at $28.26 in the supply area as today session opened on a bullish note.

The lack of momentum for upward continuation led to a drop in price with the bears taking control of the market.

DCRUSD fell initially to $27.05 and later to $26.64 in the demand area. The downward movement may continue to $26.00 in the demand area as confirmed by the signal stochastic oscillator pointing down at 32% suggesting downward continuation in the medium-term.

DCR/USD Short-term Trend: Bearish

The trendline was resistance against upward price movement as price rose to $28.19 in the supply area shortly after opening. A bounce to the downside expectedly occurred with a drop to $26.64 in the demand area.

A correction is ongoing with a rally to the trendline as indicated by the signal of the stochastic oscillator pointing up at 32% before the bears returned for continuation in the short-term.

$26.00 in the demand area is the bears’ target in the demand area 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

NANO Price Prediction Today: Daily (NANO) Value Forecast – July 25

Nano-Faces-Second-Class-Action-Lawsuit-After-BitGrail-Attack
  • The short and medium-term outlook is in a bullish trend.
  • Traders may look to buy at support area with bullish reversal candlesticks pattern.

NANO/USD Medium-term Trend: Bullish

Supply zones: $1.80, $1.90, $2.00
Demand zones: $1.00, $0.80, $0.60

NANO is in a bullish trend in the medium-term outlook. The bullish momentum resumed after the bearish exhaustion was terminated at $1.10 in the demand area as yesterday session opened. The cryptocurrency rose to $1.23 in the supply area before the end of yesterday session.

$1.21 was today’s 4-hour opening price with pressure on the coin strong by the bulls. Increased momentum pushed the coin up to $1.36 and later to $1.42 in the supply area before the momentum loss.

The retracement may drop price around the resistance area of the10-EMA. With the signal of the stochastic oscillator pointing up at 82% in the overbought region and the two EMAs fanned apart, these suggest an upward continuation. In the medium-term $1.50 a key supply area is on the horizon as the journey up north continues.

NANO/USD Short-term Trend: Bullish

The cryptocurrency continues in an uptrend in the short-term outlook. The breakout in the resistance at $1.10 of the two EMAs triggers the bullish momentum in the short-term during trading yesterday with price risen to $1.23 in the supply area. The rally was sustained during today session with bullish engulfing candles as price rose to $1.43 in the supply area.

The two EMAs are fanned apart with the 10-EMA as support for the bulls each time correction to the downside by the bears and price drops. $1.45 in the support area is the bulls’ target 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