Advertisements

Crypto Analyst Warns 2019 Bitcoin Rally Set to ‘Blow Off’ – Plus Ethereum, Ripple and XRP, Litecoin, Stellar, Tron | The Daily Hodl

From a warning about Bitcoin’s 2019 rally to new support for Stellar Lumens, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

A prominent crypto analyst warns the 2019 Bitcoin rally is an “exchange driven pump” that’s due for a significant pullback. According to Willy Woo, Bitcoin’s Network Value to Transactions (NVT) ratio is now way out of whack.

“Presently the market price of BTC has outstripped organic investor flow unseen since the bull market mania phases of 2013 and 2017. Never before have we seen such a divergence so early in the bull market.”

The NVT ratio measures the utility value of Bitcoin according to the number of transactions on the network relative to the price. Because on-chain investor volumes are in the normal range, Woo says the only explanation is “a quant fund driven short squeeze devoid of any true investor volume.”

Whales can short squeeze a majority-short market by buying it up until the shorts are liquidated, forcing a torrent of buys that inflate the price, Woo explains.

“If you have sufficient capital. You can keep buying to liquidate the bears. It’s extremely profitable. You only stop when it’s no longer profitable. At the $8k-9k mark the market switched from short to majority long. This put a cap on the profitability of short squeezing.

“I’m awaiting this exchange driven pump to blow off, a proper retrace, and only then do I think real investor flows will come in and drive the true organic bull market.”

Ethereum

Ernst & Young’s global blockchain leader, Paul Brody, says blockchain is poised to trigger a fundamental transformation of how enterprises do business.

The accounting and consulting giant EY is building on Ethereum, and Brody says use cases for audits and supply chain management are some early examples of prime use cases for the technology.

“What I hope you’ll take away from this today is that blockchain is maturing. We have real products, real customers, real use cases, real value creation, stuff that’s in operations, and we also have a road map for where things can and should go in the future and how this can have an ever-bigger impact…

Blockchains we think are going to be the future way in which companies model and manage their business processes and, in particular, we can basically model any process between two enterprises or two agencies or two governments as a combination of tokens to represent assets and items of value and contract.”  

Ripple and XRP

A presentation from Ripple’s chief technology officer David Schwartz is now online. At the We Are Developers in Berlin, Schwartz talks about the future of blockchain beyond the hype.

Litecoin

The Litecoin Foundation’s unique methods for raising funds to support the LTC ecosystem continue.

The Foundation has started to ship custom Litecoin cufflinks and tie bars, with a signed certificate of authenticity from LTC creator Charlie Lee.

Stellar

Crypto.com has added Stellar Lumens (XLM) to its Wallet & Card app.

Users of the app can now purchase XLM at true cost with no fees, with both credit cards and bank transfers supported. People can also use XLM with Crypto.com’s MCO Visa Card, making it easier to convert Stellar’s token into fiat for purchases from everyday merchants.

Tron

Tron’s latest report on the network’s decentralized app ecosystem is out.

According to the report, four new gaming DApps launched on the network this week, along with a decentralized exchange called SunDex.

Source: Crypto Analyst Warns 2019 Bitcoin Rally Set to ‘Blow Off’ – Plus Ethereum, Ripple and XRP, Litecoin, Stellar, Tron | The Daily Hodl

Advertisements

Indian Police Uncover Cryptocurrency Scam Involving BitConnect Promoter

Indian police have reportedly discovered an alleged multi-million dollar cryptocurrency scam, involving a BitConnect promoter, local media outlet the Times of India reported on June 3.

The Criminal Investigation Department (CID) in Gujarat, India, has accused Divyesh Darji — a promoter of now-defunct cryptocurrency investment program BitConnect that ceased its operations in January of last year — of luring people to invest into “Regal Coin,” promising unrealistic returns of as high as 5,000% on investment. A CID official said that the estimated amount of the scam reaches into the tens of millions of rupees.

Per the CID, Darji began offering the investment scheme back in 2017, asking potential investors to buy the coin with an investment of $2 to get $100 on each Regal Coin. A CID official said that “Darji had promised that the investor would get the principal amount in 99 days. He had also promised to give interest on principal amount as per robotic trading profit along with 1% to 1.6% bonus as referral bonus at every 11 days.”

The scam was discovered after a Surat resident, Vishal Savalia approached the CID saying that he had lost around $26,783 in the Regal Coin scam. A CID official further explained that “Savalia had allegedly given the money to Darji’s daughter, Dimki through another accused and Darji’s aide, Ramdayal Purohit and Dimki herself had downloaded Regal Coin app in Savalia’s cellphone and get him registered on its website.”

According to the police, only Purohit is presently under arrest, while Darji was released on bail a month ago and is on the lam. This is reportedly the third case involving Darji.

At the end of August 2018, Indian police arrested Darji for allegedly promoting BitConnect and scamming investors. Darji reportedly said that he had been the India head of BitConnect. The CID claims that staff at the BitCoinnect office in Surat admitted that promoters had amassed “crores of rupees from thousands of investors.”

In February of this year, India’s Union Home Minister Rajnath Singh inaugurated the cyber forensic lab and Cyber Protection Awareness and Detection Centre, with a special unit focused on cryptocurrency.

Source: Pivot – Blockchain Community

CoinMarketCap Introduces New Metrics for Crypto Fundamentals

Cryptocurrency market data platform CoinMarketCap has added a new metric to their site for measuring the fundamentals of cryptocurrency projects.The new rating system dubbed the Fundamental Crypto Asset Score (FCAS) measures cryptocurrency projects “health” by considering user activity, developer behavior, and market maturity. Basically, the service provides insight into the growth and development of a project: “We intake raw blockchain data across relevant projects and parse them internally. Once we clean, analyze, and recreate the raw data elements, we combine them with market data gathered from various sources to inform our models……..

Source: CoinMarketCap Introduces New Metrics for Crypto Fundamentals

Fee-Free Card Available for Users in the Eurozone

In a statement, 2gether revealed that the card “instantly” converts the cryptocurrency to fiat currency. Users within the 19-member Eurozone economic bloc can utilize the card without paying any fees. The Madrid-based banking startup believes that with its prepaid card it is solving problems associated with making purchases using virtual currencies…..

Source: Fee-Free Card Available for Users in the Eurozone

Pay98 – Digital Payment Services Corporation

1.jpg

We are the most trusted name in the digital currency space with the largest platform , boasting users in monthly transaction volume. We are the market leading brand with millions of people trusting us to operate on the highest standards in managing their assets securely. Our focus has always been on providing the most up to date and accurate information available. Today, we’re excited to introduce supported cryptocurrencies on our site.

We share the passion to code, create, and connect people to the future of finance. Together, we work hard, brainstorm nonstop, and brew endless coffee. We’re dedicated to leading research and thought leadership that helps us and others better understand how blockchain can impact the broader world. Join here…….

BTC will rise 80%, XLM 260%, ADA +99% and ETH 55%. DOGE will dump -77% by Dec 31, 2019. TRX -52% this Month, Panel of Experts Predicts – Ethereum World News

A group of experts in the field of crypto/blockchain and fintech leaders from around the world predicted that 2019 will be a good year for the crypto ecosystem, with significant price growth – albeit well below the figures recorded during 2017. According to a report published by Finder.com, a monthly survey made to a group of 6 experts concluded that most of them have a bullish vision for 2018. However, the forecast for the next 30 days does not seem to be very optimistic……..

Source: BTC will rise 80%, XLM 260%, ADA +99% and ETH 55%. DOGE will dump -77% by Dec 31, 2019. TRX -52% this Month, Panel of Experts Predicts – Ethereum World News

Gold Backed Crypto Exchange Offers Safe Haven for Crypto Investors | The Daily Hodl

GOLD.IO Seeks to develop a decentralised and self-regulating community exchange.

Turbulence in the global markets is nothing new but the cryptocurrency community has faced an unprecedented 18-month period of flux. The need for a fully decentralized, stable, self-regulated and community-led exchange that can offer investor confidence amidst a chaotic global economy has never been stronger…….

Source: Gold Backed Crypto Exchange Offers Safe Haven for Crypto Investors | The Daily Hodl

Crypto Adoption: New Ambitious Academic Plan Turns to Scientific Methods

The cryptocurrency markets have been a rollercoaster over the last few years. The hype of 2017 was quickly replaced by the crypto winter of 2018. Will 2019 be the year of cryptocurrency adoption? Even though Bitcoin and blockchain technology have been around for 10 years, there is currently very little evidence of mainstream adoption. Think about it: When you walk down your local high street, how many stores actually accept cryptocurrency as a payment method?

Source: Crypto Adoption: New Ambitious Academic Plan Turns to Scientific Methods | The Daily Hodl

Reserves Bank of India shelves central bank digital currency plans – Report – TokenPost

The Reserve Bank of India (RBI) has reportedly shelved its plans to launch its own digital currency, according to The Hindu Business Line.The RBI had revealed its plans about central bank digital currency (RBI) in…

Source: Reserves Bank of India shelves central bank digital currency plans – Report – TokenPost

Crypto Currency Trend Trading Daily Reports By Ed Akehurst

You know how overwhelming the crypto world can be. New coins appear almost every day, volatility can run amok. You know the profits are in the volatility… but that’s also where big losses can occur. It’s tough enough to figure out what you want to invest in, it’s even tougher to figure out WHEN. If you’re like most people, you start diving into all the reports, trends, and charts you can find, if you can even read them They’re a science of their own — you can find.

The problem is, once your head stops spinning and you get past your analysis paralysis, the information is already out of date. So you start trying to read faster and spend more time. Pretty soon, research has consumed your life and you’re ready to pack it in. Or, you just give up looking for opportunities and go with the easy investment in a single cryptocoin, losing the advantages that diversification gives.

Read more: http://bestcryptocurrencies.com/main-subscription-sales/

%d bloggers like this:
Skip to toolbar