“It’s Alt Time, Whether you Like it or Not,” Analysts on the Start of Alt Season

  • Weekends are for altcoins to make gains, this time it’s BAT, IOTA, Cardano, and EOS’s turn
  • Altcoins will continue to catch up but investors getting “picky” about cryptos

This week has been a good one for altcoins as they surged in a long time while Bitcoin remained flat around $10,000.

If we take a look at the past 7 days performance of cryptocurrency market, while Bitcoin is in the green by just over a half a percent, top altcoins, Ethereum and XRP are still up by more than 17% and 10% respectively.

Stellar (XLM) is the biggest gainer with 22.54% gains followed by IOTA which is enjoying a rise of 20.65% in its value.

Other prominent gainers in terms of 7 days performance are Cardano (13.11%), LINK (14.37%), Maker (15.46%), BAT (18.67%), VeChain (14.14%), and ABBC Coin (1884%), as per Coincodex.

Today, altcoins are in the red with a few exceptions like BAT (6.66%), IOTA (3.04%), Tron (0.66%), Cardano (1.40%), and EOS (2.96%).

“Altcoins will continue to catch up”

Bitcoin is the king of the cryptocurrency market. In 2019, Bitcoin price soared more than 160% and BTC dominance went from 53% to 73%.

But now as Bitcoin takes a breather and its dominance start dropping below 70%, it might be time for altcoins to catch up “Altcoins will continue to catch up,”

Scott Freeman, co-founder of JST Capital told Bloomberg.

“With the realization that these technologies now are being adopted, they’re starting to solve real problems, and it’s coming to fruition at some level where the value proposition of these things is being recognized more broadly.”

But have to wait for a Bit Longer

Market analyst and trader CryptoWolf says while Bitcoin is expected to trade sideways for the next few months as the trading range gets thinner with possibly of dumps, “It’s alt time. Whether you like it or not.”

However, not everyone is sold on the idea of alt-season. It could be a bull run for some of the altcoins but not a massive one, for that matter.

For Mati Greenspan, eToro’s senior analyst, it’s too soon to call it the start of an alt-season.

“People are getting a bit more picky about what they’re investing in as far as cryptocurrencies. Seems like those who’ve been waiting patiently for the emergence of a new altcoin season are just going to have to wait a bit longer.”

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Author: AnTy

Crypto Influencer Predicts Bitcoin Price to Be $25,000, Ethereum Back At $1,000 USD by 2020

This Wednesday, William Mouyagar, a crypto influencer and author of the famous book “The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology” laid out his forecast on top coins on Blockchain.

Some of the cryptocurrencies that appeared on the influencer’s list include Ethereum, Bitcoin, Binance Coin, and Ethereum Classic among other top currencies. However, the investor left out XRP coin and left people wondering on the outcome of its price.

Recently the price of Bitcoin went below the $10,000 mark, and investors are beginning to get worried. Many still have high hopes and remain optimistic in the market. In fact, for the Bitcoin enthusiasts, this may be good news for them as Mr. Mouyagar predicts that the ‘digital gold’ will get to $25,000 when 2019 comes to a close.

Coins to Surge more than Twice the Current Price

William made predictions on several top ten coins and how some would double from the current price when the year ends. He forecasted as follows:

BTC @ $25,000

ETH @ $1,000

ATOM @ $20

ETC @ $50

BNB @ $50

EOS @ $7

DOT @ $250

KIN @ $.0001

XTZ @ $2

STX @ $1.50

STEEM @ $.50

Mouyagar anticipates that the total capital in the crypto market will be at $750 billion by end year. Many investors, however, believe that Bitcoin’s dominance in the market will drop to 55 percent from the current 67.3 percent.

William Displeases XRP fans

The huge BTC investor did not say a word on the XRP coin price. This shocked a lot of XRP enthusiasts as this is the third-largest crypto on the top list of digital coins. Significant milestones have been achieved by the XRP like working with CoinMe ATM chain.

So he was asked on why he was ignoring such an asset, and his reply was straightforward. Mouyagar said that he did not have insights on the asset and therefore, he saw it wise not to shoot in the dark.

Most of the analysts with a big following on twitter were asked on the legitimacy of the forecasts. They said that those prices were doubtful, but it is possible as cryptos are very volatile.

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Author: Daniel W

Ethereum Developers Test More Capacity As Network Gets Congested and Fees Rise

The Ethereum network is too clogged these days. This one of the most unfortunate side-effects of creating a successful network. As time passes, they tend to become too clogged and slow for their own good and people start to abandon them. This will not happen to Ethereum, though, if the devs have any say on it.

Several developers, including Vitalik Buterin, the co-founder of Ethereum, have recently claimed that there are people testing new ways to reduce transaction fees and increase the performance of the ETH network.

Now, some of the developers are considering to shift to 10 million gas (the token that is paid for performing operations in the network), which would increase the capacity of the whole network by 25%.

One of the main reasons why the network is so expensive and slow right now is because the popular Tether stablecoin has decided to launch Ethereum-based tokens. As they work on top of the Ethereum network, they make it harder for people to use Ethereum because several transactions are being made with the newly-created assets.

The impact on prices was so big that people went from paying around $0.11 USD per transaction to $0.39 USD, over three times more than that. Transactions are so important because all Ethereum-based apps need to pay them to work properly.

Initially, these changes impacted the price of the token, which went up but started to go down soon afterward, as the price of BTC lowered and took the whole market together.

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Author: James W

Bank of America Becomes Newest Member of the Marco Polo Blockchain

Bank of America has joined the Marco Polo consortium. The goal of this partnership was to bring more efficiency to the bank during international trades and settlements.

The Marco Polo network was created by TradeIX and the R3 consortium. The platform has the goal of connecting several institutions in real-time to let them access capital more easily and increase their visibility in trading relationships.

Bank of America’s main reason for starting the partnership is that the institution has always strived to offer to its clients excellent financial and trade solutions and the Marco Polo network offers more services that can be important for the company to achieve these goals.

The head of global trade at the bank, Geoff Brady, stated that joining the network is important for the company to achieve its long-term objectives and to offer the solutions that the clients need the most. It makes the process more transparent and the clients can see it happening this way.

Also, this technology can be used to eliminate paper records, which are considerably expensive to keep and can make the whole trading process considerably slower.

David E. Rutter, the CEO of R3, has become a part of the Bank of America group now and affirmed that other banks should join Marco Polo as well. According to him, the blockchain technology is growing a lot and transforming how the financial market works.

Mastercard also joined this consortium recently, which shows how important Marco Polo has become. The Bank of America itself is a huge company. It is the 13th largest bank in the world and the 6th largest public company in the U. S.

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Author: Gabriel Machado

Bitcoin QR Generator Crypto Scams Running Rampant On Google; Hampering BTC Adoption

Bitcoin trading has gone up this year as bulls have returned to the market with renewed interest in the leading cryptocurrency. The cryptocurrency has surged past $10,000 this year, and the price rise seems to be continuing into the later parts of the year.

Bitcoin Not Living Up To its Full Potential Due To Negative Perception

Despite the run that Bitcoin is on, researchers suggest that the crypto asset is not growing at the rate that it actually should be. Many people associate cryptocurrencies with scams, theft, and fraud, and this negative perception is hampering the advancement of Bitcoin. Several governments and regulators have created unfriendly policies for the crypto industry because of the fears that citizens within their jurisdictions will fall victim to crypto related scams. Billions of dollars have been lost to scammers who used cryptocurrency schemes, and the effects of these have been detrimental to the progress of Bitcoin.

QR Code Scams on the Rise

Recent research suggests that 80% of the results that come up when one searches for a “Bitcoin QR generator” lead to a fraudulent website. QR code generators are used by Bitcoin traders to create QR codes for wallet addresses to enable easy and quick transfer of cryptocurrency from one holder to another. However, most of the code generators that are popping up on Google give a user a QR code which leads to a Bitcoin wallet address of a scammer, and several people have lost their funds to this scam.

According to Tal Be’ery from ZenGo, the fake websites create a QR code that you which carries an address belonging to the scammers instead of the address requested by a user. All payments made end up in the scammers’ wallet. Be’ery went on to say that the scammers use a blockchain explorer API to generate the QR code for their address.

The research available shows that over $20,000 has been lost to QR scams in recent times, and researchers say that this figure is just the tip of the iceberg. The chances are high that there are more people who have lost their Bitcoin to scammers who use this method. These scammers are constantly changing the QR codes and the address they use, which makes it difficult to identify them and blacklist the addresses.

Be’ery said that QR are not humanly readable, and this makes it easy for scammers to use them to defraud crypto users. Over the first six months of 2019, it is estimated that the total amount of cryptocurrency stolen by scammers and hackers is worth over $4 billion. Most of the stolen loot was accessed directly from crypto exchanges by hackers, but scams also contributed significantly to this amount.

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Author: Ali Raza

S&P Breakout to New Highs Underway as ECB Cuts Rates to Record Low & Restarts QE, BTC & Gold Falls Flat

This Friday the 13th, there is nothing that is spooking investors.

This week several market events unfolded that has the S&P 500 and Dow Jones Industrial Average both coming close to touching the record highs.

To start with, the European Central Bank (ECB) announced a cut of 10 basis points to its deposit interest rates, to negative 0.5%.

The ECB also announced a substantial bond-buying program of 20 billion euros per month, as part of its QE initiative. Investors, as expected were pleased that ECB has taken to QE again, hoping the new program will give the global economy a much-needed push.

“The question remains whether this will be enough to reverse the damage caused by the geopolitical disturbances that have undermined corporate and investor confidence (at least towards cyclical assets) in recent months,”

said Michael Shaoul, chairman and CEO of Marketfield Asset Management.

Before this came the good news from President Donald Trump who said he would be delaying the planned increase of tariffs on Chinese goods as a “gesture of goodwill.”

Treasury Secretary Steven Mnuchin said the president “could do a deal any time” but won’t until “it’s a good deal.”

Meanwhile, the Labor Department reported that consumer prices slowed last month. While the Consumer Price Index — that is used as a measure of inflation — rose slightly in August, the core CPI measurement rose to 2.4%, the highest level since 2008.

Both the Dow and S&P 500 are inches away from the all-time highs set in July. The Dow seems to be on way to surpass the intraday record high of 27,398.68 (currently at 27,239.87) while the S&P 500 is closing in on its record of 3,027.98 points (currently at 3,013.03).

According to Capital Wealth Planning’s Jeffrey Saut, a sustainable market bounce is coming.

“Our work suggests where interest rates are right now that a fair market multiple on the S&P is 19 times earnings.,”

he said. “You’re still looking at above 3,100 on the S&P by year-end.”

“I’ve never wavered since October of 2008,”

Saut said.

“We’re in a secular bull market.”

The gold price has been up moderately the same as Bitcoin, which is trading at $10,295 with 24 hours gains of 0.21%.

According to Bitcoin bull and Fundstrat’s Tom Lee, strong S&P 500 rally would be the catalyst for Bitcoin ATH.

Now, it is to be seen when BTC first would push for a new 2019 high before breaking all records.

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Author: AnTy

Ripple Rumor: MoneyGram and Visa’s New P2P Debit Card May Use XRP Based On Past Partnership

A very interesting rumor has surfaced in the crypto world this week. MoneyGram has recently announced a partnership with Visa to create a new P2P debit card. Now, the XRP community believes that XRP tokens may be involved in this deal.

The official press release affirms that this new P2P system will be used for money transfers in the U. S. People will be able to send money domestically using the app, which will use Visa Direct.

Visa Direct is a platform that is being used by Visa for payments all over the world. According to Alex Holmes, the chief of MoneyGram, the company is always focused on creating the best experiences and to empower its users to send money to family and friends.

The Rumors About the XRP Use

As you may know, MoneyGram was recently acquired by Ripple. This prompted several people on the internet to believe that the new debit card service may use XRP tokens as a way to transfer money. This would, according to the community, be a huge boost for the popularity of the crypto asset.

XRP tokens are very good for quick international transactions, so the community is betting that the service will be used for international payments when the service finally startds to be used outside of the U. S.

Obviously, many people still doubt this theory and so should you. Despite how quickly this rumor grew in the XRP community, there is absolutely no real indication that the whole theory is true. We’ll still have to wait for a long time before we can be certain that XRP will indeed be used in this new product.

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Author: Gabriel Machado

Coinbase Crypto Exchange Fills VP Role With A Former NerdWallet COO And Likedin VP; Dan Yoo

Coinbase has recently hired another new executive. This time, the person hired was Dan Yoo, who will act as the new vice president of business in the company. He is set to replace Emilie Choi, who will continue in the company, but in another area now.

Yoo worked as Chief Operating Officer (COO) at NerdWallet before now and at LinkedIn before that, so he has a pretty big resume. Now, he will be in charge of overseeing business operations, corporate development and the data team of the company.

While he worked for LinkedIn, Yoo helped to found a number of startups. One of them was RealiaQuote, which was one of the first companies ever to offer life insurance brokerage services online.

According to him, Coinbase is a company that is driven by data, so a big part of his job will be to ensure that everybody gets the right data to make the right decisions. He also told the media that he has been interested in the crypto industry as far as 2013 and that he had a Coinbase account before he decided to join the company’s team.

Now, Yoo is focused on helping his new team. He will tie together the operations at Coinbase, which is something that he already did for some other companies before now. Yoo affirmed that he hopes to use his experience to scale the team and get them to work in a more efficient manner, therefore using the resources of the company better.

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Author: Hank Klinger

Tron Network Grows And Company Experiences Series Of Positive News

Over the last few months, Tron has suffered from a series of negative news, and this has affected the network’s performance. There has been some controversy surrounding Tron’s founder, Justin Sun, and this fueled rumors that the project as a whole may be in trouble. However, this negative news around Tron seems to have come to an end.

Negative News Around Tron

In early July, a video of Beijing police forces raiding Tron’s headquarters surfaced. It was reported that the police were raiding the offices on the suspicion that the company is running a crypto-related scam. This video sent shockwaves across the crypto community and the price of Tron’s token, TRX, fell on the markets.

It was later clarified that the reports that police were there to investigate a scam were false. Instead, Tron reported that the police were present at the company’s headquarters to protect Tron’s staff from protestors who were present outside its building. Sun described the story accompanying the video as fake news.

During the same period, Tron’s CEO was due to host a lunch with Warren Buffett and some blockchain industry leaders. The lunch was supposed to be an educational and fundraising initiative to bring more wealthy investors into the blockchain and crypto industry. Sun went as far as inviting President Donald Trump to the lunch to educate the American president about cryptocurrency.

The lunch was canceled at the last minute, and rumor had it that it was because Sun was under police custody at the time and hence, he could not make it. This further fueled the rumors that the crypto firm was in trouble with the law and again, the price of TRX suffered.

Positive News Around Tron

The Tron community will be happy that there is now some positive news around the network, which could influence a turnaround of fortunes. It has been announced that the lunch with Warren Buffet is back on track, and Tron’s CEO will sit down with the business mogul and other leading industry players.

The number of dApps on Tron’s network has continued to increase over the last month as more applications and users take an interest in the network. There is a total of 569 dApps on Tron’s network to date, and there are more scheduled to be launched in the next few weeks.

Accompanying the increased number of dApps on the network, there has been a growth in the number of transactions executed on Tron. Tron has launched successive projects which have boosted the network’s overall growth. Some of the projects include BitTorrent Live, Sun Network, BTFS, and BitTorrent Speed. Sun’s company has launched these projects in a bid to slow down the fall of TRX’s price.

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Author: Ali Raza

Bitcoin’s Computing Power Breaks Records At Around 90 Quintillion Hashes Per Second

Bitcoin may not be breaking the records of price, but it is certainly breaking some kinds of records this year. The network has recently seen its computing power go up after its hash power grew 25% in a single week.

Recent data shows how much the hash rate has went up. It overcome 80 quintillion h/s and set new highs at around 90 quintillion h/s. A higher hash rate means that there are more people mining Bitcoin out there. The great this metric is, the more successful the network seems to be. Because of this, the security of the network against 50% attacks is also improved with a high hash rate.

A high hash rate also means other things. For instance, that miners will invest more money in mining, as the mining difficulty goes up when more people are mining. This way, a block is still mined every 10 minutes.

Bitcoin’s Prices Follow the Hash Rate, Keiser Affirms

The main point that really hypes people when the hash rates are high is that prices are generally bound to follow the hash rate. Generally, when the hash rate is going up, we see prices going up some months afterward.

This leads people such as Max Keiser, a prominent Bitcoin investor, to affirm that both the hash and prices are set to go up in the near future. According to Keiser, the political upheaval in the world (the U. S.-Trade War, riots in Hong Kong, Brexit) is fuelling chaos and making prices go up as people are starting to see Bitcoin as a safe haven asset.

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Author: Bitcoin Exchange Guide News Team