All Sports (Huobi: SOCBTC) has broken out of the wedge pattern in the four-hour chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, All Sports began a wave one advance on December 20, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 10 this year, and the red wave two (blue sub-waves a-b-c) correction ended on April 26. If this wave count is correct, All Sports should be heading next towards the April 10 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
SOC is a digitally-encrypted virtual currency based on blockchain and smart contract technology that is
After blowing through resistance on earnings with a 15%+ day, $TWTR has consolidated sideways and is now make a move back into the earnings high and gap fill to 42. With a move over these highs, we should be looking for some major continuation and just ride the bull. As you can see in the chart featured, we have broken up and a bull trend has truly began IMO.
Nexo (HitBTC: NEXOBTC) has broken out of the wedge pattern in the daily chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Nexo began a wave one advance on September 6, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on December 4, 2018, and the red wave two (blue sub-waves a-b-c) correction ended on April 11 this year. If this wave count is correct, Nexo should be heading next towards the December 2018 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Nexo lets you borrow instantly in 45+ fiat currencies and earn daily interest on your
Medicalchain (Huobi: MTNBTC) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Medicalchain began a wave one advance on February 20. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 8, and the red wave two (blue sub-waves a-b-c) correction ended on April 27. If this wave count is correct, Medicalchain should be heading next towards the April 8 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Medicalchain uses blockchain technology to securely store health records and maintain a single version of the truth. You can view their
SwftCoin (Huobi: SWFTCBTC) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, SwftCoin began a wave one advance on December 10, 2018. The red wave one finished on January 8 this year, and the red wave two correction ended on March 9. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on April 7, and the red wave four correction ended on April 24. If this wave count is correct, SwftCoin should be heading next towards the April 7 peak in the red wave five.
It is now becoming clear more than ever, crypto dealings need some good regulations, the type that takes into consideration all parties involved.
Why am I calling out for this? Because there is a need to curb activities like wash trading, cartels, and pump and dump trading schemes.
The impact a balanced regulated framework can have may be an immediate game changer.
Although, the effect may progress steadily and slowly but should be a good solution in the long run.
Taking pumps and dumps as a good example. There was a noticeable reduction in the number of groups that continually engage in the scheme when the SEC put up the “whistleblowing” activity during the early period of 2018.
A good experiment to show there is a need for regulation, a fair one to be precise.
Many sorts of unscrupulous behaviors happen because the lust for quick riches and greed is a great enemy or disadvantage to the decentralized moves we all call for.
Yes, we shouldn’t be taken as slaves by big authorities. No giant cooperation should be able to use our personal prints and data as they see fit. But if we have something to learn from the past few years; it is that total decentralization should not be encouraged because of its disastrous effect.
In theory, total decentralization sounds really good, who could reject the notion of freedom? But practical examples have shown us the bad side of it as various kind of players are called to the party and for sure not all individual have a good motive.
Taking the DPoS consensus for example. In theory, the consensus looks really ideal, like I mean the perfect algorithm for the socially inclined community of people as each representative or block producer is continually voted in by the participants of the network and can be ranked or voted out if the community decide the BP contribution isn’t ethical or benefiting anymore. What a perfect way to actualize a democratic governing body.
However, it has also shown us how bad it to established an autonomous framework without some strict penalty guideline to punish offenders.
Decentralization, as postulated by the majority, means anyone should be able to do as they see fit. To some extent, this is very true, but by our nature and rational intelligence, there is a marked difference between good and bad morals and their effects on our lives and society.
The factual part of it is that both states of morals are easily expressed through us.
Strict policing, rules and laws had been the greatest solution to hibernate the show of bad behaviors. Even the Supreme being conformed to it by the laws stated in the Bible.
In that respect, crypto dealings shouldn’t be an exception if we truly want to achieve a genuine and fair decentralized system.
My reasons for writing out this opinion is connected to why the price of BTC took a sudden slump despite the buying interest and sentiments.
One report stated it was caused by the influx of the newly printed Tether tokens by Bitfinex. So far Bitfinex denied such activity, leaving the truth of the matter in an unconfirmed state.
Alright! Let look into some latest catch-up and updates in the media and forums.
Reddit
Pixabay Image
Bitcoin price during the early days of Silk Road. What it was traded for would blow your mind.
In doubt whether cryptocurrency will fail? Don’t be surprised the Internet got more douted during its early days.
It was reported some few days ago that a hacker found a way to guess dozens of Ethereum private keys, stealing over 45,000 Ether along the way.
In a new report, research shows, many hundreds of Keys are weakly generated and are susceptible to theft.
The news stated that “the probability of a chance to hack 256-bit encryption adopted by most blockchains would take years”, but after some thorough testing and analysis, over 700 Ethereum Keys was reported to be at risks of being hacked.
Industry leaders deliberate on how to realize the mission of cryptocurrency.
Bitcoin was created with the sole aim of replacing the traditional fiat currency.
This mission was clearly stated in the Genesis block of its blockchain – revealing the corrupt and unreliable ways of the old system and the need to replace it.
Over the years, the currency had struggled to convince this mission could be realized base on many factors some of which include the slow confirmation time and excessive power usage for its production, so much that the digital currency is now considered a store of value.
However, its supporters and movers aren’t giving up easily.
In the news – it was reported that Top Traders and company representatives including Binance and Coinbase held a talk in Singapore to include cryptocurrency in the global financial framework and bring about more use cases to it.
Remember to visit my blog tomorrow for another interesting digest.
Cheers 🙂
Disclaimer
The contents of this post are intended for information purpose only and should never be taken as an investment or trading advice. All information contained herein is linked to their respective sources without being taking word for word except in quotes and references.
Buckley: szz.. szz.. It’s very weak and your thick voice isn’t helping either
Workin: Listen you scumhead.. Listen again!
Buckley: mism… mism.. optimism. Originating like a big roar from afar, reaching to us with struggles like a bird flying through a raging wind. It like something is trying to tell us a thing about the future.
Workin: about what?
Buckley: I am not a wizard nor do I analyze or interpret as you do. So, how do you expect me to know that?
Workin: as for the advantage of age. I think I should decipher this. It was in the summer of 2015, I was in the wood with Martin just as we two are, a similar voice erupted. Same with Zeus in 2017. For the big part.. What follows that two periods was something unimaginable and the later event was stronger than the former.
Buckley: what event?
Workin: the bulls in their large numbers migrating from the far west flooded our county. Chasing away the bears we have long fought against as they rally with great strength. Our pastures flourished with their fresh manure, leaving our land with an abundance of nutrients to hold onto.
Buckley: then I can’t wait to get my friends prepared. I need to inform Jimmy, Infosion, dtwo, Antigenx, Sulex and all I could. Because if by your words, the upcoming rally would be greater than the past. We need to get our pastures prepared.
Optimism! It moving quietly in the air. Rising up to the heights with bigger strength.
Unless a person is not an active follower, the mood revolving around social discussion platforms like Reddit and Twitter is something to be excited and curious about. It has been a while since people of varying experience and expertise speaks about historical events and records like in this moment.
Topics like the golden cross, phase of renewed optimism and so on are now being deliberated upon in a manner that has long been seen.
Overall daily trading volume isn’t planning to cool down the mood either.
The past 36 hours saw another upward movement by the king himself, putting everyone in awe of his next direction. Alts were really dumped out of FOMO to rally along with the king, but several corrections along the way must have signaled an unknown direction.
The direction of the next movement is very unpredictable, calling for more carefulness in other to stay safe.
Happy trading or HODLing.
Let look at some of the recent happenings and discussions.
Created along with the debut of the internet are companies with the focus on providing large-scale access to digital service or information such as the Google search engine, Amazon web service and the rest.
Fast forward to a few more years, we saw various models of businesses formed around the users accessing these services.
User-generated data created a lot of revenue opportunities. The advertisement industry took a new form of engagement. Product development relies on the core behavior and patterns of users.
To the unfair part, individuals with the right to these data are cheated out of the information they provide by being totally ignored in the revenue sharing mechanism.
Good awareness is now widely spread among users on how they are being robbed of their personal prints and belongings.
This has ushered a rally calling for a decentralized move. Luckily with the birth of the blockchain, the move is having more fruition than earlier predicted.
Revamping one the crucial gateway to access the internet is the Brave project with the introduction of the Brave browser built on the chromium browser infrastructure.
Brave reward content creator using the BAT token, distributed via the user accessing such creator’s content.
Now, users can now enroll in the advertising network system Brave promises during its initial founding stage to be eligible for a fair reward for viewing and engaging with advertisement served through its partners.
An interview with ETF consultants and applicants by Cointelegraph to gain more overview about the future effect of ETF on cryptocurrency. Youtube video
Thanks for your time reading the digest.Remember to visit my blog tomorrow for another interesting digest.
Cheers 🙂
Disclaimer
The contents of this post are intended for information purpose only and should never be taken as an investment or trading advice. All information contained herein is linked to their respective sources without being taking word for word except in quotes and references.
I read another one this morning, another article speaking of a company implementing blockchain tech. This time it was an insurance company. The type of company doesn’t really matter, I’ve read many such articles and the market sector varies between insurance companies, logistics companies, banks, medical companies etc. each making its own chain.
The immediate question which comes to mind is: “How will this affect cryptocurrencies?”, which is what I will answer today.
Private blockchains: Good or Bad?
Good.
Next Question please.
Why?
Private blockchains have much to offer the corporate world. I like the fact that every bank transaction I’ve ever made can be called
Sometimes, the harder you fall, the stronger you rise”. – Anonymous
Every now and then we are mostly faced with one challenges or the other. It may be financial, spiritual or physical. But every time you fall, the best thing to do is to rise and stand firm again. Why? Because no one would be there to pick you up.
This is the cryptoland, and there are different fall that could manifest in various ways.
Talk of buying a crypto coin at a prize you dim safe only to later realize you are one of those who bought the top, or maybe due to your trading convenience you slept soundly leaving your crypto on an exchange with the confidence that you are protected from price risk having set a stop loss at a target you are willing to take a loss only to wake up to the news that the exchange has been hacked.
It could be the loss of a private key, it may be the direct compromise of your device. Whatever challenges you might have been through, “you really need to pick yourself up and rise again”.
Maybe you risked so much denting your way of life as a result. You got very hard on yourself thinking about where to start from. I am glad to tell you there is a solution and that solution is “starting all over again”.
No doubt! Your decision made things worse, it prolonged your days of struggle. Mind you, you have got no option than to “start over again”. Yeah! It worth it. Why? Because the greatest thing that is happening to your life right now is the privilege of living, and the grace of life itself is worth living for.
So, pick yourself back up and start over again. Your experience just made you stronger, you got wiser, more rational and also careful.
There is winning time for everyone at a different period. Your winning time will come. As long as you wake up, stand on your feet, breath in and out, every day is a new chance for new opportunities.
Dear reader, don’t mind me for my naughty dry advice, the cryptoland is just a dangerous path to journey, it takes only the strong to survive, and the strong become stronger as the downside of it can hardly be averted.
But there are winning days for everyone, all it takes is to sit tight, hold your breath and strike at the right moment, and if your subjected right moment turns out the other way. Don’t go hard on yourself tomorrow might just be another better opportunity. Alright! Let get into today’s digest.
Blockchain became widely speculated as a disruptive tech base on the combination of its makeup technologies, especially cryptography and the unit identifier using hashes.
Taking into consideration all aspects that make it’s immutable and secured such as a sequential ordering of block, history of block authenticity and many others. It will be quite difficult to carry some set of attacks on the tech.
But that status took a huge blow.Recently, in the news, there is a report of a hacker who was able to guess the private keys of over 700 accounts containing about 45,000 either put together, an incident which questions the credibility of the algorithm used for generating private keys on the Ethereum blockchain.
As the common know, a software system needs a single point of weakness to be rendered vulnerable. Let see what impact this have on the general view of blockchain and how the community reacts to it.
Gone are the days when the general belief to profit on cryptocurrency is to HODL or engage in trading in the hope of better valuation per unit of owned asset.
But there are now some different ways to profit by just holding an asset provided it is done the rightful way.
One of it is staking owned asset for a particular period of time which may be a period of 6 months, 9 months, or a year with the aim of realizing some interest.
This new mechanism is seeing the establishment of different projects providing such opportunities.
In the news – BlockFi ‘a crypto lending service” saw a major in flush of customers staking their Bitcoin or Ether asset(s) with the aim of benefiting from the annual interest rate.
Thanks for your time reading the digest. Remember to visit my blog tomorrow for another interesting digest.
Cheers 🙂
Disclaimer
The contents of this post are intended for information purpose only and should never be taken as an investment or trading advice. All information contained herein is linked to their respective sources without being taking word for word except in quotes and references.
I’m a really clever guy, but even I’m probably not ready for it. Why not?
The problem is our oldest enemy: ourselves.
Being creatures of habit / sheep with a herd mentality – us humans struggle against our biases every time we try to go against the grain and think out of the box. As if it isn’t bad enough that we have to fight the collective opinion of 7 billion other people, we also have to fight ourselves.
You are biased. You’re probably very VERY biased. Only a small and exclusive group of people even realise this, let
