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BPSAA | Blockchain Privacy, Security & Adoption Alliance

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BPSAA (Blockchain Privacy, Security Adoption Alliance) goes live assembling crypto gurus from multiple projects for the good of cryptomanity. BPSAA aims to bring collaboration through BPSAA verified projects in order to enhance Privacy, Security, Adoption for users in the crypto realm.

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Projects in the Alliance:
Pirate Chain (Most Anonymous Crypto) https://bpsaa.vision/pirate-chain
Turtle Network (Interoperable DEX w/fiat) https://bpsaa.vision/turtlenetwork
Ether-1 (Decentralized Storage) https://bpsaa.vision/ether1
Sentinal (Decentralized VPN) https://bpsaa.vision/sentinel

Source: https://cryptocoremedia.com/bpsaa-blockchain-privacy-security-adoption-alliance/?utm_source=rss&utm_medium=rss&utm_campaign=bpsaa-blockchain-privacy-security-adoption-alliance

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Bitcoin Price Analysis: BTC Crashes Under Major Resistance, Will $13K Hold?

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Bitcoin bulls are trying to regain lost ground after failing to break the high set back on June 26, 2019, at $13,880.

This would’ve been the highest price Bitcoin has reached in over 490 days, however, heavy selling pressure and a weakening uptrend caused prices to tank over 7% in under 12 hours. Right now, the leading crypto is back inside a rising channel pattern and stuck under the median line resistance (white dashed middle line on the following chart).

Over $17 billion has been stripped from the crypto market since yesterday’s steep correction but overall the global market capitalization is still printing higher lows – according to data by CoinGecko. This is a promising sign and implies that overall sentiment is still favorably bullish.

BTC Price Levels to Watch in the Short-term

On the following 4-hour BTC/USD chart, we can see that the 50-EMA line (blue) successfully caught the bottom of the Bitcoin crash and allowed bullish traders to drive prices back up $200 before running into resistance at the median line.

Despite a number of attempts from bears to defend this particular level over the course of today’s trading session, the long wicks beneath the last 3 candles suggest bulls are carrying more momentum.

If this strength can sustain and bulls manage to overcome this first hurdle, we should expect to see the next set of resistances around the $13,300 and $13,500. After this, Bitcoin buyers will have to contend with the main channel resistance which has been a strong S/R level for the asset over the past 6 days.

If bears manage to overcome the current buying pressure and start a second breakout to the downside then we should expect to see a reaction at the first main support zone (middle yellow bar) around $13,050 followed by the main channel support at $12,950. It’s worth noting that this particular support is also being reinforced by the 50-EMA which has already proven itself to be a reliable resource for bullish traders.

Looking underneath this area, there’s a second main support zone (bottom yellow bar) around $12,800 which should also provide a strong foothold for bitcoin buyers to relaunch from.

The RSI continues to print lower lows although the surge towards the 490-day high yesterday did manage to briefly break through the resistance line (yellow) for the first time this week. This indicator line should be watched carefully over the next few days; if we see a new higher low appear it could be an early indication that the trend is growing stronger again.

Total market capital: $400 billion

Bitcoin market capital: $245 billion

Bitcoin dominance: 61.4%

*Data by CoinGecko.

Bitstamp BTC/USD 4-Hour Chart

btcusd
BTC/USD chart via Tradingview.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-price-analysis-btc-crashes-under-major-resistance-will-13k-hold/

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Bitcoin is The Biggest Bubble Ever, Says Peter Schiff… Again

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Bitcoin skeptic Peter Schiff has done it again: The notorious gold bug, famous for being the owner of the only Bitcoin wallet capable of forgetting passwords, claimed that this time —unlike his other failed predictions— Bitcoin is genuinely about to die .

Shortly before the price correction on Oct. 20, 2020, the investor went on Twitter to unload his thoughts on the famous cryptocurrency, declaring it to be the worst bubble he’d ever seen. Schiff explained that the “level of conviction buyers have in their trade” is so high that it beats famous dark episodes in the history of finance like the dot-com bubble or the 2006 real estate crisis.

The Peter Schiff Effect and The Stubborn Bitcoin Market

We can’t say how Schiff was able to measure the level of conviction of the generality of Bitcoin traders; however, based on past experiences, we can say that when Peter Schiff has a high level of conviction that Bitcoin is going to crash… Bitcoin tends to go up.

An image shared by the Redditor Blockchaincenter_de shows the evolution of Schiff’s tweets. The well-known investor has become a kind of meme within the crypto community for being a contrarian price indicator for Bitcoin.

One of the latest comments about Bitcoin by Peter Schiff explained that the token would soon crash to sub $10,000 levels. He invited his audience to discuss how hard the fall would be. His tweet gave luck to Bitcoin, because the token has not fallen below the $10,000 mark again and currently holds the record for the longest time above said price line.

Will a Golden Needle Pop The Bitcoin Bubble?

Schiff, who became famous for predicting the 2008 financial crisis —which, by the way, seems to be one of the reasons why Satoshi created Bitcoin— explains that Bitcoin’s performance, rising in price very quickly and falling with the same force, is a characteristic of a bubble and not of a young product consolidating its market.

Schiff claims that Bitcoin has no intrinsic value and Gold outperforms it because of the multiple uses the metal has beyond pure speculation and storage of value. He also said Bitcoin would not increase its price due to inflation even though gold would certainly appeciate in price.

The well-known investor and CEO of Schiff Gold LLC is also the man behind Europacific Capital, a bank based in Puerto Rico focused on providing services to high profile customers in need of security and confidentiality. His bank is currently the target of one of the most extensive tax fraud investigations in United States history.

If only he just used Bitcoin or another crypto-currency for his operations…

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Source: https://cryptopotato.com/peter-schiff-bitcoin-worst-bubble-ever/

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Crypto ban in India rumors loom again

Crypto ban in India rumors is looming in the country again. Unocoin founder says rumors are bad for business. And earlier RBi crypto ban in India was quashed by the court. The potential news of the crypto ban in India to be quashed soon sends forth a wave of unanswered questions across the Indian digital […]

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  • Crypto ban in India rumors is looming in the country again.
  • Unocoin founder says rumors are bad for business.
  • And earlier RBi crypto ban in India was quashed by the court.

The potential news of the crypto ban in India to be quashed soon sends forth a wave of unanswered questions across the Indian digital market and disrupts the crypto field every now and then. With Unocoin, an old player of the crypto market adding hundreds of clients to its network daily, its Co-Founder Sathvik Vishwanath deems the ban merely speculation and news that spreads bi-yearly coinciding with the parliament session uptake.

He furthers that the news does little to the business but overall slows down the growth of the industry. While recently an Indian Bitcoin trader was forced to commit suicide after killing his wife and two children.

Crypto ban in India

Reserve Bank of India, in a bid to diminish crypto trade, had notified financial institutions to not cater to cryptocurrency-based firms and clients, however, the supreme court had canceled the notice confirming the country’s open outlook towards crypto dealings.

Vishwanath highlighted the critical need for acknowledging cryptocurrencies as a digital commodity. The vague classification and lack of information on whether it is a currency, commodity, or asset or equity keep business users confused about what rules apply to it from a taxation point of view.

The absence of clarity and standardized regulations are ongoing issues with the trade and Vishwanath believes it is playing a role in hindering its consistent growth in the region. To work around it many crypto owners have registered their firms abroad as a means to solidify business strength says, Vishwanath.

Recognizing the market potential within the region, Vishwanath informed a monthly $300 – $500 crypto trade constantly being witnessed and predicts a stark increase as more people are educated about this field’s know-hows.

Approximately 0.3 percent of India’s population is said to have knowledge of the digital trade, and Vishwanath sees it’s potential going up 5 percent. The brokerage intends to add more digital products to its lineup as and when the market demands. As per Vishwanath’s experience, 2020 has seen a major shift in focus on digital trade and has witnessed up to 500 customers signing up daily. He predicts strong investment opportunities within the field. 

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