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Month: July 2019

Are Bitcoin and Libra Correlated???

July 17, 2019 Published by

It seemed when Facebook announced their own cryptocurrency, Libra…Bitcoin took off going from about $10k to $14k.   Libra is designed on paper to be an alternative to traditional financial services for the billions of people worldwide who lack access to banking through a digital wall.

However, the announcement really scared the government because of the potential of fiat being the beginning of the end.

Over the past two weeks, Facebook has received a wave of criticism from the likes of the Federal Reserve Chair, the House Financial Services Committee, the Treasury Secretary, the Senate Banking Committee, and even the President himself. While Libra’s bright future has turned darker, or at least delayed, Bitcoin’s present is back in the red.

From Senators questioning the age-old privacy problem of Facebook to calling Libra outright delusional, they reigned down on David Marcus, lead of the Libra Project and VP of Messaging Products at Facebook. The aging US lawmakers were concerned about Libra’s plan to overhaul national currencies and manipulate monetary policies, and with the “massive reach” of Facebook, that prospect looks even more menacing.

After Steve Mnuchin, the Treasury Secretary descended on the cryptocurrency market, the price shaved over $500. As the Senate hearing began, the price dropped by over $1,000 in less than 2 hours, to $9,500.

Source

Bitcoin now finds itself around $9400 and within the daily demand zone at $9200. 

So is Libra and Bitcoin correlated, for now it appears they are correlated.  However, Libra is a medium-of-exchange where users can send money and house transactions, while Bitcoin has become a store-of-value, digital gold.  And because of this, Bitcoin is giving folks an opportunity to buy on a pull back to one of the daily demand zones before eventually moving higher. I personally like the $8000 level better than the $9200 level. 

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

Crypto Contest July 17: InvestDigital

July 17, 2019 Published by

InvestDigital (Huobi: IDTBTC) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, IDT began a wave one advance in December 2018. The red wave one finished in April this year, and the red wave two correction ended in May. The red wave three advance finished in June, and the red wave four correction ended on July 12. If this wave count is correct, IDT should be heading next towards the June peak in the red wave five.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

InvestDigital is the asset management protocol and toolset for crypto assets, and it is implemented on EOS blockchain. All the InvestDigital products are listed below.

(Sources: InvestDigital)

How can I vote? Where is the contest?

You can vote by following this link.

? Daily Crypto News, July, 17th?

July 17, 2019 (updated July 17, 2019) Published by
  • Facebook’s Libra Should Be Regulated Like a Security, Says Former CFTC Chair ;
  • Cuba Libra? Island Nation Slowly Explores Cryptocurrency Options ;
  • Facebook’s Marcus Says He’d Accept 100% of His Pay in Libra ;
  • Global Blockchain in Healthcare to Reach $1.7 billion by 2026 ;
  • Ron Paul: ‘I’m All for Cryptocurrencies, I Like Competing Currencies’ ;
  • ? Daily Crypto Calendar, July, 17th?
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

? Facebook’s Libra Should Be Regulated Like a Security, Says Former CFTC Chair

Libra is a security, says a former Commodity Futures Trading Commission (CFTC) chairman in prepared remarks to the U.S. House of Representatives.


Gary Gensler, who chaired the CFTC from 2009 to 2014 and previously held leadership roles at the U.S. Treasury Department, says in written testimony that Facebook’s new cryptocurrency project looks like an investment vehicle and that Libra may even resemble some banking structures.


Gensler will testify before the House Financial Services Committee on Wednesday, as part of a panel of expert witnesses on the potential implications of Libra. He will join Public Citizen president Robert Weissman, Columbia University law professor Katharina Pistor and Georgetown University law professor Chris Brummer.

? Cuba Libra? Island Nation Slowly Explores Cryptocurrency Options

Cubans are quietly exploring cryptocurrency use-cases on the politically isolated island, even watching Facebook’s Libra project with cautious optimism.


Cuban expat Claudia Rodriguez of the Brazilian startup Fusyona, the sole bitcoin exchange proactively serving Cubans, told CoinDesk the exchange has nearly 700 accounts since launching in 2018. She said up to 60 users purchase a total of one or two bitcoins every week.


“For Cuba, that is a lot,” Rodriguez said. “Cuba is probably going to be very interesting for Libra [developers] and I hope there will be some potential there.” In its launch materials for the Libra stablecoin, Facebook has focused heavily on the potential to connect the world’s underbanked with digital financial services.

? Facebook’s Marcus Says He’d Accept 100% of His Pay in Libra

Facebook’s blockchain lead David Marcus told lawmakers he would be willing to accept 100 percent of his salary in the social media giant’s proposed Libra cryptocurrency.


During a Senate Banking Committee hearing on the controversial project Tuesday, the ranking member of the panel, Sen. Sherrod Brown (D-Ohio), asked Marcus if he trusted Libra enough to put skin in the game this way.


“You really think people should trust you with their hard-earned money, I think it’s delusional,” Brown said, after enumerating Facebook’s history of privacy abuses. He then posed the question: “Will you accept all of your compensation in that new currency?”

? Global Blockchain in Healthcare to Reach $1.7 billion by 2026

The volume of blockchain in healthcare market worldwide is forecast to reach more than $1.7 billion by 2026.


In a press release published on July 16, consulting services to information technologies firm Acumen Research and Consulting (ARC) has projected that the global blockchain in healthcare market on the global scale will reach over $1.7 billion by 2026, with a compound annual growth rate of 48.1%.


Based on geography, America purportedly dominates with the largest share in the global blockchain in healthcare market, wherein the United States is a mature market that hosts the greater adoption of smart technology in manufacturing and healthcare.

? Ron Paul: ‘I’m All for Cryptocurrencies, I Like Competing Currencies’

Former Republican congressman and presidential candidate Ron Paul says he is in favor of cryptocurrencies and blockchain technology because he likes competing currencies. Ron Paul delivered his remarks in a “Squawk Alley” interview on CNBC on July 15.


According to Paul, cryptocurrencies are a great idea, and governments should only step in to regulate the space to prevent fraud:


“… I’m for the least amount of regulation. I don’t know what’s gonna happen to cryptocurrencies. I think it’s a great idea. And I only have one rule: no fraud … I think that the government has a role. And [if] somebody has a case that there is fraud, I think it should be investigated …  What I want to do is legalize the freedom of choice, absent blatant fraud.”

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? Daily Crypto Calendar, July, 17th?

“We are excited to announce the official release date of Equal Wallet Connect on the 17th of July.”

Workshop with dApps and writing smart contracts on WAVES blockchain in Saint Petersburg, Russia.

“Join the SDF team and @Coinsquare for a #StellarMeetup on Wednesday, July 17.”

Fireside chat with Ted Livingston, CEO of Kik and Founder of Kin from 18:30 – 21:00.

“Join us in Cambridge, England, 17 July to design the best trading agent.”

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of yesterday :

STEEMUSD.jpg

Here is the current chart :

STEEMUSD.jpg

We are currently consolidating just upper the major resistance line at 0.24$ while the BTC is having a very nice bounce. It is becoming hard for all the altcoins and STEEM is not better than other and is sometimes even worst. What to say, we have to wait for better days, the market doesn’t really care currently for the altcoin market and I really don’t know how many time it will last like that. Courage and perhaps focus on the BTC if you want do short term trades.

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Last Updates

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Play on a fair STEEM CryptoGaming website !

Join this new Free To Play on the STEEM Platform !

Domino’s Pizza…Does It Again

July 17, 2019 Published by

Domino’s Pizza (DPZ) posted weaker-than-expected sales during the second quarter. Same-store sales grew at 3% vs expectations of 4.6% domestic.  Same-store sales internationally grew 2.4%, but also missed analyst expectations for 2.6% growth.  On the news the stock price was fell 9%.

This marks the second consecutive quarter where Domino’s disappointed Wall Street.  I decided to focus only on same store sales figures because of Domino’s long term strategy.  Domino’s is under attack by the food delivery companies that popped up in the last couple of years in which stay at home diners have a lot more options at their disposal.

Image result for grubhub and competitors

Thus, Domino’s is aggressively adding store at the sacrifice of existing stores the clear risk of saturating its existing territories. More stores equates to being closer to the customer, which equates to faster delivery times.  The strategy is called “fortressing,” or adding locations right within the delivery territory of an existing restaurant.

Things might get worse before they get better, thus the chart suggests further downside to the weekly demand at $227.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

Bitcoin Price Drop – Prime Example that Higher Time Frames Dominate

July 17, 2019 Published by

We talked about it in my post a couple days ago, looking at the weekly chart and basically saying “who would buy that?”

There is a reason we look at larger time frames and not just the daily and hourly charts.  Looking at something like the weekly gives us a broad view of what is going on day to day and even cleans it up a bit for us.

This is why I always say “Higher Time Frames Dominate.”

You best case scenario is when the weekly, daily and even hourly chart are all indicating the same direction.

For instance, the weekly is in an uptrend and the daily just did a bullish u-turn pattern after a pullback in what is otherwise an uptrend.

That is a solid entry signal and a position you can hold for some extension, not just a quick trade.

However, when the weekly is looking ugly after reversing hard and being extended to the upside (hint: how it ended last week) then you need to be quick and nimble with your trades to the upside on the daily chart.

I sometimes forget this myself, which is what happened when I decided not to book profits at 11k on a trade I entered at 10.1K.

Had I’d looked back at the weekly the sell trigger gets pulled in no time flat.

Let’s look at the weekly chart again…

As I mentioned in the post a couple days back, price failed to break higher after ignoring the reversal candle from a few weeks ago.  The odds were price coming back to at least 9800 and meeting the 10 period average.

We have seen a bit more than that on today’s sell off, but either way odds were for price to pullback based on this longer time frame.

If you are not looking at the weekly chart to gain reference of the overall price action it is advisable to do so in my opinion.  It’s another tool in the tool belt.

To learn about how I use multiple time frame analysis and spot support and resistance points check out the ScaredyCatGuide to Investing in Cryptocurrency videos on my website.  They are free to watch!

Marijuana…There’s An ETF For That

July 16, 2019 Published by

Although the marijuana
industry has seen many ups and downs, with volatility resembling the crypto
space, just like the crypto space, it’s representing investors, particular
young investor with an opportunity to create generational wealth.

Cannabis industry
cheerleader Cowen Group, which has arguably been covering pot stocks longer
than any Wall Street investment firm, believes that the industry could hit $75
billion in global sales by 2030, which would represent a more than sixfold
increase in global sales from 2018, according to data from Arcview Market
Research and BDS Analytics.

Meanwhile, Christopher Carey at Bank of America believes that the cannabis industry has the potential to one day hit $166 billion in annual sales.

Source

But just like the crypto space, there will be many losers.  Thus, Electronic Traded Funds (ETFs) give exposure to a group of stocks, thus lowering the investment risk through diversification.  And in the marijuana space, there are three that come to mind:

ETFMG Alternative Harvest ETF (NYSEArca:MJ) is the largest fund to cover the sector.  MJ tracks the Prime Alternative Harvest Index, which tracks the entire cannabis ecosystem across both medicinal and recreational uses. MJ tracks 36 stocks with leaders like GW Pharmaceuticals (NASDAQ:GWPH) and Canopy Growth (NYSE:CGC) as top holdings.

AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) takes on a more active approach as it’s run by portfolio manager Dan Ahrens. YOLO currently owns just 26 different marijuana stocks, including Innovative Industrial Properties (NASDAQ:IIPR), CannTrust Holdings (NASDAQ:CTST) and OrganiGram Holdings (NYSE:OGI).

Despite it being the sin ETF, probably the safest of the bunch is the AdvisorShares Vice ETF (NYSEARCA:ACT)  because it invest in alcohol, gambling, tobacco as well as cannabis.   The ETF only has 26% exposure to pot stocks.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

Bitcoin Drop Below $10,000! Where’s the Bottom?

July 16, 2019 Published by

Bitcoin has officially created new local lows. We’ve been talking about a $9,400 target for quite some time. Today, price nearly hit that target, dropping as low as $9,420.

Screen Shot 2019-07-16 at 12.31.01 PM.png

Looking at the daily chart, we can see that yesterday price decisively broke (daily open and close) the all important 21 day EMA. For those that watch my videos, you know this was your sell signal. Price has now broken below the 50 MA.

Screen Shot 2019-07-16 at 12.30.34 PM.png

Today’s video was created just as price broke below $10,000. You’ll be able to watch my response as it happened in real time. We’ll also discuss where price may be heading next, key areas to watch and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/?workin2005/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

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BITCOIN: Still having doubts about the count?

July 16, 2019 Published by

well…. I confess I had a moment of “panic” yessterday when I saw BITCOIN rising up a little but the doubt was obviously temporary because what we see now is a perfect “fit” of BITCOIN and my proposed EW Count.

You can read the calls I did here (3 days ago) , here (4 days ago) and here (almost a week ago)…

The formation is clear, 3-3-5 Flat correction.

There are at least two possibilities:

  • BTC has touched support already at 9400 USD
  • BTC will touch support at least at 8800 USD which is the projected target of the HS pattern

One of my buying orders have been filled already at 9400 USD… the second is waiting for a further oversold condition at the RSI indicator.

Just one comment more…I think the correction is done but, as usual, no one can be 100% sure… so, do your own research and proper assessment before taking any decision but… in my opinion we are going UP soon!!!!!

Enjoy!

@toofasteddie

Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

Dolphins Like Cryptocurrencies Too

July 16, 2019 Published by

This upcoming football season will be the Miami Dolphins’50th season in the National Football League.  Last season the Dolphins finish with a winning record for the first time since 2016.  Recently, the Miami Dolphins made moves to win off the field as well by teaming up with the Litecoin Foundation, making Litecoin the “Official Cryptocurrency of the Miami Dolphins.”

Launching for the 2019 NFL season, the collaboration with the Miami Dolphins gives Litecoin the ability to tap into one of the NFL’s largest and most passionate fan bases through in-game branding and advertising opportunities at Hard Rock Stadium, as well as inclusion across the team’s various online properties and digital content.

Through the partnership, the Miami Dolphins, Litecoin and Aliant Payments intend to give home game attendees the ability to pay with Litecoin and Bitcoin when purchasing tickets for the team’s 50/50 raffle, where half of the proceeds benefit the Miami Dolphins Foundation and its charitable causes. The 50/50 raffle tickets can be purchased both online and at 14 kiosk and raffle seller locations throughout Hard Rock Stadium.

Source

Keeping up with the Joneses applies in the business world as well.  However, in the business world, it’s not about social class, but just remaining competitive.  The Dolphins might be the first, but won’t be the last as other teams will copy the business model to give fans and customers what they want to maintain engagement, which in turn will lead to profits.

As price pulls back almost 50%, the chart suggest to go long at Litecoin at the daily demand at $75.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

Summer 2019 update – and Liberland in New York!

July 16, 2019 (updated July 16, 2019) Published by

We’re excited to share Liberland updates for the summer with you! President Vít Jedlička has arrived in the U.S. for a four-day visit to New York City to further relations with UN member states and for special media interviews. He has also been invited to be the keynote speaker at the TNC coin opening event.If you are able to attend we would like to invite you to meet our UN representative and top diplomats in Manhattan on Wednesday evening, July 17. Please RSVP here and we will provide the location and time.In New York, we will also be welcoming our appointees for Liberland’s new Washington D.C. office as well as the directors of the Liberland Aid Foundation. Liberland’s voluntary humanitarian assistance program has just received its non-profit status from the IRS and has already begun its educational and humanitarian work and welcomes your support.This week is also the famous Freedom Fest in Las Vegas where Liberland will be represented by Adam J. Carswell, host of the Liberland Show. Please stop by and say hello to Adam if you are going. He’ll be attending thanks to the support of concordiarealty.com a leading real estate company in the U.S. that combines sound economics with solid experience in real estate.We’d also like to invite you to our Floating Man summer festival on 15th to 18th August, which will take place as we open the brand new Liberland Airport in Serbia close to the city of Sombor. Over four days you can take part in fun activities and entertainment, including various DJs and musicians from the area, including the composer of Liberland Anthem. This will be a great chance to see Liberland from the skies with the help of the first Liberland flight school. Floating Man attendees will visit Liberland by river with both the Liberland fleet as well as in small boats. You can also visit the Liberland free trade zone and harbor in the city of Apatin as well as the spot dedicated for Floating Liberland (Liberland-on-the-Water).Stay tuned for more details and travel information for this amazing summer event and more!

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