In my prior analysis, I discussed an area of potential resistance around $8,450. It seems that’s precisely where bitcoin has topped for the moment.
In today’s video I analyze Bitcoin, EOS, BNB, BAT, ETH and Ripple (XRP). I discuss where prices may be heading next, key areas to watch, buy zones and so much more. I hope you find it helpful.
Video Analysis:
If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe
BITCOIN willing to surpass 8000 USD right now and still there are people that is claiming for a Bull Trap coming?
Well, a correction shall come, that’s for sure, specially if we want to maintain a sustainable growth. But do you know what is shocking me most during this rise?
Have a second look at the daily chart of the Total Crypto Market cap:
Oh man! the Volume, the volume is massive!The crypto market is accelerating its growth a pace never seen before!
Only BITCOIN itself is moving 28 Billion$ of 24 hour volume and, despite some
I’ve been out of town since Thursday for a family event. Of course bitcoin takes off as I’m away from my computer, unable to trade. Murphys law…You can all thank me later.
In my prior analysis., I’ve discussed a potential short squeeze numerous times. Admittedly, I did not expect price to break above $6,500 without hitting major resistance. In the past 5 days, we’ve seen a parabolic move to liquidate shorts that’s brought price as high as $7,900. Daily volume hit an all time high (on May 11th) of just above $28.8 billion. Today’s volume is just above $26.5 billion. Clearly
Bitcoin is not trading above the 7000 level and topped out at over 7300. We have been calling this for months and with the relative strength of EOS and LTC, the big boy has arrived to the party. What. A. Move. The Bulls are back baby, and the shorts are running for the hills…
I have been talking about the 6000 level for a while now and I said I doubt we blow right through it…well We did lmao. Good news for the bulls.
The ole Hack and Rally paid off and squeezed the shorts. I am long crypto, and still
As one of the more pessimistic analysts out there, the recent rise in Bitcoin has finally convinced me that the bear market is over. If that’s not an indicator for you, I don’t know what is! With a change in the market, comes a change in strategy. From now on, it is time to Buy The Fucking Dip (BTFD)!
Crypto spring has begun
If you’ve following my blog then you know that I have been one of the more pessimistic commentators out there. Having suffered through a crypto-winter before I became very cautious in calling the end of the bear market this
I almost have forgotten how exciting was the Crypto market till this morning while watching BITCOIN reaching 7000 USD I really get shocked.
Honestly I was not expecting such an accelerated growth. I was prepared to find resistance till 6200 USD but I never thought would be so easy for BITCOIN to break it.
To tell you the truth I am feeling excited while worried at the same time :-)…Excited because finally we reached a significant milestone which is the “balcony” from which the whole market fell down abruptly on November.
Worried because it seems to me an unsustainable rise, frankly speaking… I
I am only familiar with a one-pager summary of a project, a book or an article.
How unbelievable it is that an operation as sophisticated and complex as trading cryptocurrency can be initiated and executed right on just a single page – Revolutionary, I call it!
The exchange procedure we are most familiar with look something like this.
work of the author
The process above may have been summarized in simple five steps, performing it in practice is not an experience to smile about.
In fact, this contributes to one of the reasons why cryptocurrency adoption is growing at a snail-pace rate.
Imagine a new user who heard about Bitcoin from the buzz on the street, decided to have a little holding of this so-called magic internet money was presented with the above mountain process of acquittance to climb.
The individual might just stop his adventure right at the KYC stage (something which is now becoming a mandate no matter the trade size on exchanges) or if he is lucky enough to sign up with established exchange who still provide a small window for users to transact under limited access without KYC confirmation, order placement complexes might just discourage him all at once (we are talking of a newbie after all).
Problems with multifarious exchange who mostly are built with centralized design extend beyond the user experience sample mentioned above. There are other reasons why their use offers many disadvantages.
Reasons such as:
• Insecurity of funds.
• Low liquidity (with the majority)
• Issue with theft and hacks
• Censorship.
These sets of problems cannot be tolerated in the long run if we really want to establish the decentralized mission of cryptocurrency.
Therefore, there is a need for urgent but lasting solutions.
Like the opening part of this post mentioned. There is a simple exchange with good capabilities to handle single or multiple exchanges between a wide range of cryptocurrencies right on a single page.
Onepagex is a multifaceted simple exchange with the ability to host and executive trades between cryptocurrencies right on a single page.
This exchange relies on the market price feed from many reliable sources to provide fair market trade. Using the atomic swap technique, the exchange allows the immediate liquidity and conversion between user desired cryptocurrencies.
One special uniqueness of OnePageX is the total absence of any form of registration and confirmation before a user can start using the service. Providing absolute decentralization, privacy, and convenience.
Another exciting features about this exchange are the wide range of available selection of cryptocurrencies which are over 140+. This availability paves way for conducting microtransactions across a wide range of selections which is very beneficial to airdrop hunters and the likes.
Just like the words of Brian Armstrong -Coinbase CEO
many people will earn their first cryptocurrency rather than buying it.
This quote is to the point, in that, the majority of just introduced newbies are airdrop and bounty hunters.
I started my crypto journey as a bounty and airdrop hunter.
I still remember how an airdrop token got stuck on an exchange because I couldn’t meet the withdrawal fee sum.
The decentralized architectural design of OnePageX mitigates the problem of fees arising from withdrawal. Another interesting part is that trading fees are drastically reduced, with just 0.5% charge, and transactions can be monitored in real time providing more assurance.
Here is a sample illustration of how the stages of exchange with Onepagex looks like.
i) Selection of preferred cryptocurrency type.
ii) Input of withdrawal address.
iii) Start exchange with a click on the button.
iv) Deposit address of the base currency to start the exchange.
v) Deposit waiting for two confirmation.
vi) Actual conversion with a pending status (happens in second).
Tracked your transaction on explorer by clicking the complete button.
______
The process is as simple as that.
Apart from the waiting time for the base currency deposit to be confirmed, all the steps illustrated above take just seconds.
With this kind of speed in exchange, gradually, we are getting close to the future dreams.
At the very start of the exchange, Bitcoin was the only available base currency, but there are now more available options like Ethereum and Steem, providing even more versatility and speed in confirmation.
The ability to sort out transactions within seconds with no prior need for registration or identity confirmation is a special experience on its own but OnePageX have even more to offer.
Rundown in a short list with inclusive features:
√ Convenience
√ Fast exchange window period
√ Absence of registration
√ Absence of KYC confirmation.
√ Adequate security.
Right on the same single interface, OnepageX offers an added advantage of conducting multiple transactions all at the same time.
All the above graphic samples showcase many of the cool features of the exchange.
The lack of registration may have prompted a curiousness of how a transaction can be retrieved in the case the window or tab was lost for various reasons like; sudden fail of internet connection, mistake arising from self-navigation from the page, and many more possibilities of mistakes. A simple way this is rectified is by resorting the page URL from the browser history – allowing the confidently use of the exchange without any reason to panic.
With the type of convenience this exchange provides, it is right to think why aren’t crypto-based merchant using this solution to settle crypto payments on their website.
Well, maybe words haven’t yet reached out to them because OnePageX provides a good solution for websites through its website exchange widget “OneBox”.
At this point in time, OnepageX solution is something all crypto enthusiast and evangelist should be excited about as it is one of the solutions that is bringing about the actualization of the convenience, ease, speed and security that has long been needed.
Competing Solutions
OnePageX is innovative in its design and appearance, but the past few years have also witnessed other similar product with the established mission to provide these set of solutions.
How is Onepagex then different from these similar solutions?
Features That Distinguish OnePageX From Other Similar Exchange.
As a reality, there are other exchanges that provide instant liquidity and conversion between cryptocurrency assets. Such examples of well-known exchanges include Blocktrades and Bancor Network.
To highlight their difference without too much of words. A graphical representation showcasing their superiority and flaws is provided below.
Author’s work
Some Use Cases.
Scenario 1
Samuel is a college student whose recent discovery of cryptocurrency propelled him on an exciting adventure as a bounty hunter as he lacks the necessary financial prowess to invest directly on the assets of his choice.
By his voracious commitment, Samuel had a very good experience with this new adventure and earn some valuable reward in the process.
Having gotten familiar with the crypto world, he discovered much of these earned coins are with higher volatility risk than established ones, therefore, he decided to gradually convert them to less volatile ones as he has a long time goal of holding his earned cryptos for future possibility gains.
His regular way of trading these cryptos was to pass through exchanges that require formal registrations and KYC confirmation before any form of exchange can be conducted. As daunting as this process is, it became easily checked by Samuel but the problem with fixed withdrawal fee that eats up a significant part of his holding became a real case to worry about.
But the whole story changed when Samuel stumble on a discovery that matched his need and exceeded his imagination.
On a fateful day, Samuel woke up to dig out available opportunities. In the process of his search, he stumbles on a contest promoting a project called “OnePageX” which solution perfectly matched his need.
This new discovery ended Samuel’s agonizing experience with formal exchanges as they became a thing of the past. He now enjoys the convenience, ease and wide range of selections provided by OnePageX.
Scenario 2
‘I need to lead by example’ – Anatasia thought to herself, she is a well-known cryptocurrency enthusiast and evangelist.
Her past crypto wins gave her the financial power to set up her local dream store. But the majority in her locals have never heard or know about Bitcoin. She decided the best implementation to set out with was to enable a fiat gateway on her website.
Her business flourished, reaching some of her online fan she initially didn’t set the market for. Words reached to her to set up a gateway that accepts crypto payments.
She decided this was the best thing for her offline business and her online reputation.
However, getting the right solution became a struggle as available solutions did not fit her need.
After making a public announcement about her need, a stranger dropped a Twitter message describing a one-pager exchange.
Her carefulness and knowledge ensure she didn’t click any of the link sent to her, rather, she did a proper search on Google and read about the suggested solution.
In the means of her search, she finds out the solution was, in fact, the best fit for her need.
To get things right without further stress Ana hired a coder freelancer and gave the necessary description. The task took just some minutes to be completed as it was just a copy and paste job.
She paid for the job without having to part with much money.
Her dream store got more set-up with an added juice to it.
She became happy afterward.
Conclusion
Ease, convenience, and liquidity are some of the top desires of most traders.
It contributes to reasons why many people prefer to keep their crypto holdings on centralized exchanges who are vulnerable to hacks and theft despite alternatives with decentralized exchanges.
Although, liquidity-providing exchange using the swap model are not a feasible ground for speculative trading, they provide the best alternative for other types of trading.
OnePageX took the swap model a step further by providing a platform where the complete process of exchange happens on a page. Putting off the stress with registration, privacy, and identity confirmation that may be subject to regulation.
Suddenly, the decentralized infrastructures we dreamt about, are getting set up, and for sure OnePageX is part of the move.
For additional Information about Onepagex visit their Website.
And all of their available social media and forums.
I can’t believe that it’s already Index time again. I’m almost tempted to put it off, but I know that that will come back to bite me later! It’s been an interesting month and a lot of important information has been covered. With that in mind, it’s rather important that I create this index without further delay.
Previous Index posts:
Index to Crypto with Bit Brain – Edition 2019/2 is my most recent index and was published in early April. In it you will find some posts about what I have been buying in 2019, the long overdue Part 3 of my “Diversification”
Facebook, which has courted rumors over its planned entry into blockchain and payments for around a year, could launch its own token as soon as Q3 2019, anonymous sources told the publication. The company began hiring for a dedicated blockchain team last year, under the auspices of David Marcus, himself a former president of PayPal.
Now, around 20% of the team’s 50 members come from the payments platform, a situation reminiscent of the so-called “PayPal Mafia” executive group of the early 2000s.
A prospectus for a new cryptocurrency-based exchange-traded fund (ETF) has just been filed with the U.S. Securities and Exchange Commission (SEC).
The application, posted by the SEC on May 9, was created by Crescent Crypto Index Services LLC, a subsidiary of Crescent Crypto Asset Management LLC, to track the performance of a market capitalization-weighted portfolio of bitcoin (BTC) and ether (ETH).
Dubbed the USCF Crescent Crypto Index Fund (ticker symbol “XBET”), the ETF is sponsored by United States Commodity Funds LLC (USCF), which will invest XBET’s assets in the two portfolio cryptocurrencies. The prospectus states:
“XBET is an exchange traded fund. This means that most investors who decide to buy or sell shares of XBET place their trade orders through their brokers and may incur customary brokerage commissions and charges. Shares of XBET are expected to trade on the NYSE Arca under the ticker symbol “XBET” and will be bought and sold throughout the trading day at bid and ask prices like other publicly traded securities.”
United States regulator and so-called “crypto mom” Hester Peirce gave remarks in which she expressed fears that the cryptocurrency industry has been hindered by the Securities and Exchange Commission (SEC) dragging its heels. Peirce spoke at the Securities Enforcement Forum in East Palo Alto, California on May 9.
In her speech, Peirce stated that, given the rapid development of the digital currency industry, she worried that the SEC’s hesitance to provide clear guidance would hold back its growth.
The sticking point was, according to Peirce, how to decide when issuing tokens represented an offering of securities, especially considering that securities laws do not cease to apply just because there is a new evolution in the industry.
Binance, the biggest crypto exchange by volume, was hacked on Tuesday. The hacker took $40 million or 7000 BTC.
Binance had a chance to recover these funds. They could cut a deal with the majority hashpower miners. The miners would reverse the chain and gain a share of the stolen money.
Binance this time decided not to make the deal with miners. And as time goes on, the attack becomes harder. But all it took was a private phone call. The majority hashpower lies under control of a handful of men. They can collude and reverse the chain.
New York-based blockchain company ConsenSys is restructuring its various operations to shore up its market presence as it seeks $200 million in funding, a press release confirmed on May 6.
In a move which will also see the departure of a founding executive, ConsenSys will consolidate ConsenSys Labs, accelerator Tachyon and VC operation, ConsenSys Ventures, under one umbrella investment arm.
ConsenSys Ventures, which launched in September 2017, will no longer have Kavita Gupta at its helm, she confirmed to cryptocurrency news outlet The Block on Monday.
Weekly rewards for Cointorox community members holding over 200 OROX (5% rewards). Token rewards distributed from leftover bounty tokens.
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yesterday :
Here is the current chart :
As I was saying you, after the break of the support line at 0.34$, the direction was directly 0.31$ but I was expecting that this line hold us. Apparently even this support won’t survive as we already broken it. However, this support can still be save if we are able to go upper of this line in the coming hours. Let’s hope because if the break is confirm, we will try to do for sure new lows on the STEEM…
Today I’ll do my favourite type of TA post: where I show you charts and let you make up your mind. I’ll point out the patterns and movements which I see – you get to decide if I’m right or not. (*Spoiler alert* – I’m pretty good at being right…)
Chart 1: The Long-term chart
The long-term chart is important because it sets the “climb angle” for BTC as a whole. I have seen several long-term logarithmic charts lately, with each successive bull markets showing a declining angle of climb. I don’t consider those charts to be correct. The technical analysis of
