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? Daily Crypto News, July, 9th?

July 9, 2019 (updated July 9, 2019) Published by
  • Bitcoin Price Hits $12.8K as Major Investor Says $100K Quite Easy by 2021 ;
  • Safety Without Silos: Why Businesses Will Learn to Love Public Ethereum ;
  • NYAG: Bitfinex, Tether Served New York Residents Longer Than They Claim ;
  • US SEC and FINRA Issue Statement on Crypto Custody Issues ;
  • Lawmakers Push for New Bitcoin Rules ;
  • ? Daily Crypto Calendar, July, 9th?
  • STEEM Trading Update

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

? Bitcoin Price Hits $12.8K as Major Investor Says $100K Quite Easy by 2021

Bitcoin price (BTC) felt more bullish than ever June 9 after another 24 hours of upside propelled markets close to $13,000.

Market visualization courtesy of Coin360

Data from Coin360 painted a rosy picture for cryptocurrency traders, with bitcoin still leading the way in terms of daily gains. 

At press time, BTC/USD was up 11% versus Monday on $12,666. The pair had reached as high as $12,707 before a slight pullback below the $12,700 barrier. 

Bitcoin 7-day price chart

? Safety Without Silos: Why Businesses Will Learn to Love Public Ethereum

In 2015, the Ethereum public mainnet launched, followed by a raft of private blockchain offerings targeting the enterprise. This opened the floodgates on companies prioritizing collaboration, funding long-overdue digitization efforts, and extending business processes across corporate borders.


Today, a new epoch of system integration is underway. However, efforts to make blockchain technology enterprise-friendly split the community into two camps: public networks versus private networks. The dichotomy was wrong-headed from the start, making it easy to believe that public blockchain networks shouldn’t be used in confidential business operations and that private networks were safe and secure.


The first belief is wrong, and the second is dangerous.

? NYAG: Bitfinex, Tether Served New York Residents Longer Than They Claim

The New York Attorney General’s Office (NYAG) has submitted new evidence in its aim to prove that crypto exchange Bitfinex and Tether had served New York customers longer than they claimed.


As part of the NYAG’s ongoing investigation into Bitfinex and Tether, the NYAG filed a Memorandum of Law in Opposition, an affirmation, as well as a total of 28 pieces of exhibits on July 8, with the New York Supreme Court.


The NYAG said in the new documents:
“Even a cursory examination of the facts gathered to date in the OAG’ s investigation shows that Respondents have extensive and consistent contacts to New York concerning the matters under investigation.”

? US SEC and FINRA Issue Statement on Crypto Custody Issues

SThe United States Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) outlined regulatory compliance issues for cryptocurrency custodians in an announcement on July 8.


According to the joint statement, the organizations have yet to discover a set of circumstances in which a crypto custodian could comply with the SEC’s Customer Protection Rule, which is described as follows:


“Put simply, the Customer Protection Rule requires broker-dealers to safeguard customer assets and to keep customer assets separate from the firm’s assets, thus increasing the likelihood that customers’ securities and cash can be returned to them in the event of the broker-dealer’s failure.”

? Lawmakers Push for New Bitcoin Rules

The Internal Revenue Service is expected to update its 2014 guidance on cryptocurrencies in coming weeks, following an April request from a bipartisan group of 20 lawmakers. It is part of a broader push to boost the nascent cryptocurrency industry. Congress is considering at least three bills that would resolve some of the murky legal issues surrounding digital money.

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? Daily Crypto Calendar, July, 9th?

“Stay tuned because we have a great announcement for you on July 9th!”

“#BountyProgram starting on 9th July”

Voyager and Ethos YouTube livestream community Q&A at 3 PM (EST).

Dapp competition submit your ideas by 9th of July.

“Chainlink Integration Engineer Thomas Hodges is leading a meetup in Plano, TX next Tue July 9th.”

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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

The market is currently trying to break the support line at 0.34$… It is quiet sad because when BTC is doing nice UP, STEEM is dropping and when BTC is doing a correction, STEEM is droping also… To resume it, we are not able anymore to add value to our blockchain….


I start to be really worry for our little coin because if all of that continue, yeah we will finish to be outside of the Top100, we will have less volume, less investors and all that, whatever the improvements that we will have…

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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 !

BREAKOUT: Quick Bitcoin Update!

July 9, 2019 Published by

As we expected, bitcoin broke up and out of it’s consolidation pattern, hitting our targets at $12,000 and $12,400. It’s now eyeing $13,000.

Screen Shot 2019-07-08 at 9.49.36 PM.png

In today’s video we’ll quickly review our targets, where price may be heading next, traps to avoid 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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Feature Image By: Saul Gravy

ADA technical analysis

July 8, 2019 Published by

ADA seen from the temporality of 4H we can observe the formation of a bearish flag that should end up making the break down and continue with the bearish trend, however, the price is in the process of claiming the 1D support, if it makes a correct test and we have confirmation with a bull candlestick we could see a reversal of trend and see the price rise towards the supply zone that I have drawn in the chart inside a blue rectangle located in the price range of 0.08840 – 0.08940, in the image I have also drawn the two possible trajectories that could follow the price within this setup depending on the movement of BTC in the next hours, in case of a correction we could see ADA test the support of the channel by making a pullback below 0.07961 and not to get 1D support again the price could fall to the zone of demand in 1W located at 0.06601.

ADA seen from the temporality of 1D we can observe from a broader perspective the current structure of the candles in the major figure, after the price broke down the blue diagonal was made a pullback confirmation making the price fall strongly towards the area where it is currently, in the chart above I have placed the important levels to take into account during the movement.

In conclusion, in the short term we have a setup of continuation of the bearish movement that should conclude in the zone of demand in 1W, in case that BTC continues rising it is very possible that the pattern will be invalidated and we will see an upward movement towards our objective pointed out above in the graph of 4H, I recommend to be attentive to what BTC does in the next hours and to contrast it with the price of ADA to avoid falling in the traps.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

BITCOIN: iHS triggered?

July 8, 2019 Published by

Just a couple of days ago I was writing a post about an interesting pattern in formation. It was an Inverted Head and Shoulder pattern and I told it has the potential to allow a continuation trend upwards with a target of 14500 USD.

The following was the pattern I was talking about:

And what we can see right now is that after breaking the neckline at 11760 USD the volume is increasing consistently:

Those two higher bars at the volume of the 4 Hour chart may indicate an acceleration of the price action and so it is what is exactly occurring. A good example of one of the most succeed patterns in TA, in this case it is acting as a continuation pattern on a Bullish Scenario.

The target of this pattern points right now towards a new High of the year around 14500 USD, will see how close BITCOIN will be from that level in some hours from now.

As usual, pay attention to the chart and anticipate the move in order to get the most from it.

@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.

Is Bitcoin Still in a Bear Market? Analysis and Answering Questions

July 8, 2019 Published by

Bitcoin jumped today from $11,350 to our known resistance at $12,000.

Screen Shot 2019-07-08 at 12.11.07 PM.png

Zooming out on the weekly chart, we can see price is trading above the last 3 weekly candle’s close. Bitcoin has been defiant of the bearish reversal candle we saw 2 weeks ago.

Screen Shot 2019-07-08 at 12.12.31 PM.png

As most of you know, I believe the bottom is in and bitcoin is now in a bull market. Could I be proven wrong? Of course…and I’ll be the first to admit it if I am.

In today’s video we discuss the case for the bear market continuing and lay out why I think it’s over. I also answer your questions on how I learned to trade, discuss where price my be heading next and so much more. 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

If you found this post informative, please:

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Get paid for viewing ads and Support the Crypto Ecosystem with Brave Browser. Free download here:
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YouTube: https://www.youtube.com/c/workin2005
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Feature Image By: Saul Gravy

Bitcoin 08 July

July 8, 2019 Published by

Perhaps you saw on yesterday when I posted on Twitter:

It was always the idea to blog about Bitcoin today, but Bitcoin was too fast for me:

While that movement has already begun, I’m going to write about it anyway, I guess I’ll just have to type faster than usual…

I am expecting moves in the $1000 (or greater) region by tomorrow.

BTC has been in a (somewhat messy) bullish converging triangle for roughly the last 10 days. The dominant BTC movement at the moment is a rise, and so this “sideways phase” is probably coming to an end.

Thanks to an “over-hyped” phase, followed by an “over-corrected” phase, this triangle is somewhat difficult to spot – fortunately you have me to spot it for you. ?

The rest is rather simple, as I said earlier, I expect a large price movement. This is to be expected after a period of sideways movement – especially when a converging triangle is in play.

I believe this will either be in the form of a direct price rise, or as a dip down to $10500, followed by a large price rise. The upwards break out of the triangle is an argument in favour of the former scenario: it’s a bullish breakout which will probably run to $12850 and possibly beyond that. The median price line (which is over three months old) is at $12850, so that would be a good place to stop, but momentum may carry it through to the next diagonal Fib at $13700 – or even higher if “over-hype” kicks in again.

The other scenario is that BTC first dips to support and then climbs. That support is the bottom of the diagonal Fib levels – the 0.0 Level – and is defined by the 10 June dip as well as by the over-correction dip of a week ago (which you may recall me calling exactly right – based on these same Fib levels). In support of another dip is the fact that volume has been decreasing over the last five days, though I don’t consider this to be as important as it would appear. I assess that volume also became “over-hyped” at the time of the $13800 price spike in late June and has taken a while to normalise after that. Volume also continues to far exceed the levels of the 2017 bull run, so I think a dip is the more unlikely scenario.

If BTC does dip then the support should catch it at about $10500 before slingshotting it back up towards $12850 and beyond.

I allocate the following probabilities to future scenarios:

  • BTC rises to $12850 and above directly – 45%
  • BTC dips to $10500 and then rises – 30%
  • BTC continues sideways – 10%
  • Something else – 15%

That’s all for now, let be hit the “Publish” button before everything changes or becomes outdated!

Yours in crypto
Bit Brain

Tweets from https://twitter.com/brain_bit
Charts made by Bit Brain with TradingView

“The secret to success: find out where people are going and get there first” 

~ Mark Twain

“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful” 

~ Bit Brain

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ScaredyCatGuide to Bitcoin and Other Cryptocurrency – Part 1 – Bitcoin Introduction

July 8, 2019 Published by

Both understanding and being able to explain bitcoin and the blockchain in a simple clear way is important for its growth

This was my goal when I originally wrote this piece in 2017 and is still my goal now as the world of crypto continues to grow.

This post is the first in a series that will discuss the basics of bitcoin (and other cryptos) so that we can clearly explain it to the average joe who is skeptical of it all.

In this post we will…

  • Learn what bitcoin is and how it came to be

Bitcoin Beginnings

Bitcoin is a new form of currency – a digital currency. It was created in 2009 by a developer(s) Satoshi Nakamato. The goal of this new currency and technology is to decentralize the power of money.

Currently the world’s money is controlled by the central banks of the issuing Country. This became ever present during the financial collapse in 2008. Central banks implemented quantitative easing and created bail outs for the large financial institutions integral to the financial crisis.

The same big banks that we use to hold our money and process our financial transactions. It is this centralized system that bitcoin and more so the blockchain are designed to make obsolete.

Decentralization

Decentralization is done by using a peer-to-peer network. Rather than relying on a central bank, middleman or government, bitcoin is empowered by everyone that makes up the peer-to-peer network.

Each individual that owns or uses bitcoin is part of the network that enables bitcoin to function. There is no central hub or center of control.

The strength and convenience of bitcoin grows as more and more people make use of it. Anyone in the world can send or accept bitcoin payments from others anywhere in the world, nearly instantaneous without paying large transactions fees.

This is what makes it revolutionary. You do not need a middle man to transact with people. Granted, there are exchanges you can buy, sell and hold bitcoin, but they are an optional as opposed to being mandatory.

Free Market at Work

Unlike fiat currency which has its value manipulated by central banks, bitcoin as a currency has its value dictated by the free market principle of supply and demand.

As for the supply side, that amount is limited to 21 million bitcoins. Nobody knows exactly why it’s 21 million, though there are many theories. Once all the coins are mined, that’s it.

The thing it does do is create a finite supply. This means more won’t be printed per se , which we know manipulates value as seen by the practices of banks with fiat currency.

Bitcoin as a Currency

Now that we have discussed the currency aspect of bitcoin and that it can be used to buy and sell things with any other person or business that accepts it we can move to the next step.

In the next post we will discuss the technology behind bitcoin – the blockchain

Is Bitcoin Finally Ready to Breakout?

July 7, 2019 Published by

As discussed yesterday, Bitcoin continues to consolidate within a tighter range. Volume is dropping. This suggests a larger move in the next 24 hours or less.

Screen Shot 2019-07-07 at 1.06.07 PM.png

In today’s video we’ll discuss where it may go from here, key areas to watch, traps to avoid 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

If you found this post informative, please:

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Support the Crypto Ecosystem with Brave Browser. Free download here:
https://brave.com/wor485

YouTube: https://www.youtube.com/c/workin2005
Twitter: https://twitter.com/workin2005
Facebook: https://www.facebook.com/Workin2005
Feature Image By: Saul Gravy

XMR technical analysis

July 6, 2019 Published by

XMR seen from the temporality of 1D we can observe the setup of a diagonal expanding, the points of the movement are marked in the graph in blue color, we can see that the point four has respected the figure drawing itself up diagonally to the point two (I have traced it with a diagonal red color), we should expect a point five up diagonally to the point three, to complete the pattern we should reach the area that I have marked within a blue rectangle that is located within the price range of 131.95 – 137.60.

XMR seen from the temporality of 4H we can observe more closely the current movement of the candles, we see how the price has respected the key support located in the 83.48 where it has found demand, therefore, has taken the necessary bullish impulse to break the point EQ located in the 95.28, the current candle is beginning to show signs of a possible retreat, we could have a pullback below the point EQ and take impulse again in the support I have indicated with a blue horizontal color located at 92.56, if you respect this support, the price would be forming a setup of SHS (a very bullish pattern), this figure will be important to convince the bulls to go for point five of the major figure.

In conclusion, if we have a recession in the price below the EQ point, we should later claim the 95 again to follow the ups in the next move of XMR, overcoming the resistance of SUPPLY located at 104.35 the price will not have problems to reach the range of 131.95 – 137.60 mentioned above, as always, I recommend to be very attentive to the movement of the next candles of 4H.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

BITCOIN: interesting Pattern…

July 6, 2019 (updated July 6, 2019) Published by

…the one that we can see on BITCOIN chart right now and, in general, in mostly all the crypto market nowadays…

It is the famous Inverted Head and Shoulders pattern which used to anticipate a change on the price action, in this case upwards.

These kind of pattern often are identified as reversal patterns despite they could also indicate a continuation patterns as well.

What I don’t like at all is that the volume does not look to support the positive direction of the price according to that pattern so, I am afraid we are going to wait some time in order to see if BTC has enough power to cross the neckline.

The inclined neckline shows that 12000 USD can be a good entry point if the volume increases since it will confirm the end of the correction and the resume of the uptrend. If so, the target according to this pattern would indicate a rise around 14500 USD.

As usual, pay attention to the chart and anticipate the move in order to get the most from it.

@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.

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