In my last update we discussed a likely bounce around $9,950 to confirm a falling wedge on smaller time frames. Today, we’re seeing that bounce. If you took the trade, congratulations!
In this update we’ll discuss where price may be heading next, key areas to watch and so much more. I hope you find it helpful.
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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The largest crypto exchange by volume is making its U.S. debut next week.
Binance.US said today that the platform will open registration and deposits on September 18. According to a company blog posting, the launch will initiate a rollout of multiple Binance products across the U.S.
After registration, six cryptocurrencies will be available for deposits including bitcoin, ethereum, XRP, bitcoin cash, litecoin, and tether.
Trading will commence later at an undisclosed date.
Based out of San Francisco, Binance.US was announced earlier this year. Residing officially in Malta, Binance has physical locations in Jersey, Singapore, Hong Kong, and Uganda.
Join us live from the show floor at Invest: Asia, our premier crypto global investment event.
For the next two days we’ll be talking to folks like Jocelyn Chang of MakerDAO, Jeremy Allaire of Circle, and Benjamin Soong of Ledger. You’ll be able to chat with us on YouTube, ask questions and interact with our guests as we explore the booming Asian markets.
Akon, the famous rapper was live on a radio station and explain basis of monetary policies and advertised Bitcoin.
He explained why BTC is as valuable if not more than USD ? because people give it value. He goes on to say Bitcoin is backed by the people whereas USD is backed by military and the government.
Joseph Lubin, co-founder of ethereum, is to join the governing board of the Linux Foundation-led blockchain consortium Hyperledger.
The move comes as ConsenSys, the ethereum development startup founded by Lubin, becomes the latest Hyperledger premier member, ConsenSys announced on Wednesday.
ConsenSys said it will work as part of the group to explore interoperability between blockchains, as well as to promote standards to support “enterprise-grade blockchain environments.”
ConsenSys’ PegaSys protocol engineering group recently submitted its ethereum client, formerly known as Pantheon, to the group as the Hyperledger Besu project. Besu, aimed to provide a platform for “open development and deployment,” marks the first public blockchain-compatible submission to Hyperledger, the firm said.
According to Lubin: “PegaSys and ConsenSys have been committed to open source software and submitting Hyperledger Besu to Hyperledger demonstrates that commitment. Public networks with tens of thousands of nodes are most appropriate in a world in which we will see the tokenization of many types of assets and resources.”
Bank of New York Mellon has been appointed to serve as transfer agent and administrator of Bitwise Asset Management’s proposed Bitcoin (BTC) exchange-traded fund (ETF).
Bitwise amended the S-1 form that it submitted to the United States Securities and Exchange Commission (SEC) on Sept. 11. The amendment also lists major accounting firm Cohen & Company as auditor, while Boston-based legal firm Foreside Fund Services is listed as the Bitcoin ETF’s marketing agent.
Whether any of the aforementioned firms will act in their appointed regard depends on an eventual decision to allow the listing by U.S. financial regulators.
” Tune in on Thursday, 8PM (UTC+8) for NEO Live, your exclusive chance to chat with our project leaders and discover…”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
Little bit earlier in the day, we almost tested the low around 0.155$. It was expected and predicted in my previous post so no drama. I think we could stay upper than this support line but we need to be carefull about the BTC because if the 10k$ is broken, we could see a new acceleration in the drop. and it will be the same on the STEEM.
In Elliott Wave terms, MAN began a wave one advance on August 10. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on August 24, and the red wave two (blue sub-waves a-b-c) correction ended on September 7. If this wave count is correct, MAN should be heading next towards the August 24 peak in the red wave three.
Matrix AI Network is an open-source, distributed computing platform and operating system that melds artificial intelligence and blockchain. You can watch their intro video below.
In these vast age of internet, we would notice the daily massive increase in the number of people that makes use of social media platforms such as Instagram. However, despite the time and money people spend to use platforms like Instagram, they hardly get any reward in turn despite the high income they generate for developers of these platforms.
You don’t have to worry anymore about these issues. This is because a better alternative where you get to earn for doing the same things you do for free on Instagram and other social media platforms. That better alternative is called “Tata”.
What is Tata?
Tata is a blockchain-based platform that works more like steem where users get paid for creating and posting quality contents on the Tata platform. The users of Tata get to earn ACN crypto token for using the Tata application.
There is also a chat feature where by users get to engage with each other on the Tata platform. There are already thousands of users using the Tata platform and as such, it has been a perfect place for people to make new friends and connect with others across the entire world.
For you to get started on Tata, you are required to install the Tata App from play store (for Android users) or App Store (for iPhone users). Then create an account and choose your area of interest.
Earning on Tata Platform
For you to earn on the Tata platform, you are required to download TTC connect from play store (for Android users) or App Store (for iPhone users).
Open the Tata App, click on the last tab at the bottom right and click on earn reward.
Fill your KYC details and upload necessary documents. Note that it takes up to 48hours for it to be approved.
Comparing Tata with Steem
Tata works more like Steem where you get paid for content creation. But in the case of Tata, picture and video contents are mainly the point of focus. The chat feature within Tata makes it a better social media platform compared to Steem. Tata is a great platform and I see a lot of potentials in it.
New data suggests 40% of millennials would prefer to invest in crypto assets in the event of a recession.
In a news release shared with Cointelegraph on Sept. 10, multi-asset investment platform and social network eToro cited a survey on generational investment conducted from July 18 to July 31 among 1,000 online investors in the United States. Respondents aged between 20 and 65 years represented Generation Z, millennials, and Generation X.
The survey found that more than two-thirds of U.S.-based investors are afraid of a recession, and would consider converting part of their stock portfolios to safer investments or hedge with crypto assets, commodities or real estate.
Millennials favor crypto assets
Among survey participants, 40% of millennials said that they would prefer to invest in crypto assets if a recession occurs, while 50% of Gen Z said they would choose real estate. As for Gen X, 38% said that they would hedge with commodities. Guy Hirsch, managing director of eToro U.S., said:
“We believe that if a recession were to occur, we’d see shrinking stock portfolios and growth in other asset classes like crypto, as well as new fractional ownership models. Historically, these investment opportunities have been limited to high net worth and institutional investors, but innovation is unlocking these opportunities for everyday investors and clearly, these results indicate that the demand is there.”
Join us live from the show floor at Invest: Asia, our premier crypto global investment event.
For the next two days we’ll be talking to folks like Jocelyn Chang of MakerDAO, Jeremy Allaire of Circle, and Benjamin Soong of Ledger. You’ll be able to chat with us on YouTube, ask questions and interact with our guests as we explore the booming Asian markets.
San Francisco-based cryptocurrency exchange Coinbase may soon issue a proprietary exchange token, according to Coinbase’s head of institutional sales in Asia, Kayvon Pirestani.
Speaking on a panel Wednesday about the evolution of cryptocurrency capital formation at CoinDesk’s Invest: Asia conference, Pirestani said an initial exchange offering (IEO) platform is one of several capital-formation tools currently being explored by Coinbase.
“We think there’s a really interesting opportunity there for Coinbase,” said Pirestani, adding: “In a nutshell, Coinbase is carefully exploring not only the IEO space but also STOs [security token offerings]. But I can’t make any formal announcements right now.”
Facebook is seeking a payment system license under Switzerland’s Financial Market Supervisory Authority (FINMA) for its planned stablecoin project, Reuters reported on Sept. 11.
In an official statement today, the Switzerland-registered Libra Association — a not-for-profit membership organization established to govern the Libra network — explained its choice to coordinate a regulatory framework with the Swiss watchdog:
“Switzerland offers a pathway for responsible financial services innovation harmonized with global financial norms and strong oversight. We are engaging in constructive dialogue with FINMA and are encouraged to see a feasible pathway for an open-source blockchain network to become a regulated, low-friction, high-security payment system.”
FAfter a nine-month delay and $3.8 million of investment, an upstart manufacturer is ready to produce its first batch of powerful new machines for mining cryptocurrencies ethereum and ethereum classic.
Linzhi, based in Shenzen, China, said Wednesday it had ordered 37 wafers from Taiwan Semiconductor Manufacturing Company, the main parts that will allow it to build about 200 application-specific integrated circuit (ASIC) miners. These sample units will test whether the machines can mine as efficiently as they are designed to do using ethash, the proof-of-work algorithm used on ethereum and ethereum classic.resh data from the Japan Virtual Currency Exchange Association (JVCEA) has revealed that as of April 2019, the value of yen-denominated Bitcoin (BTC) holdings has outstripped those in XRP on domestic exchanges.
As Cointelegraph Japan reported on Sept. 10, the surge in the value of exchanges’ Bitcoin holdings coincides with the beginning of Bitcoin’s 2019 bullish uptrend, which saw the top cryptocurrency hit close to $14,000 by late June.
We are testing the support line at 0.164$ that I was explaining you yesterday. I don’t think that this support will stay alive if the BTC breaks the 10k$. We could go test directly our lows around 0.155$ if it was the case. Let’s hope buyers will be there in waiting mode and will avoid that we break it.
In Elliott Wave terms, Thunder Token began a wave one advance on August 21. The red wave one finished on August 25, and the red wave two correction ended on August 29. The red wave three (blue sub-waves i-ii-iii-iv-v) finished on September 4, and the red wave four (blue sub-waves a-b-c) correction ended on September 10. If this wave count is correct, Thunder Token should be heading next towards the September 4 peak in the red wave five.
Thunder Token is EVM-compatible with throughput of 1,200+ TPS, sub-second confirmation times, and low gas costs. Boxmining reviewed the token back in April this year.
New products and services keep unfolding day by day as they are brought into existence by various companies and developers. However, only a few of those products get the required hype to reach a wider audience and this may be due to poor digital marketing and so on. The entire team of Hunt Platform took note of this particular challenge and they decided to come up with Reviewhunt.
What is Reviewhunt
Reviewhunt is a platform powered by the steem blockchain that is built for both Makers and Hunters to provide solutions to the primary challenges they are currently on the blockchain. Reviewhunt create the avenue for Hunters to get rewarded for accomplishing some certain task listed by the makers on the reviewhunt platform, thereby creating the buzz and fostering the hype Makers (such as companies and developers) need for their products and services to get to a wider audience.
With Reviewhunt, it is a win-win situation for both the hunters and the makers. Another important you should note is that hunters get paid in form of the Hunt Platform native utility token known as HUNT token.
Hunt is a ERC-20 utility tokens which serves as a native currency of the SteemHunt and ReviewHunt platforms. Hunt token is currently listed on Daybit and Probit with more listing to come in the nearest future.
How to get started on Reviewhunt
Note that you will need to open a Steem account (if you don’t have one yet) for you to use Reviewhunt. For those who have before, you are goods to go like that.
Kindly Sign up using my referral link. You either sign up as hunter or a maker. Note that you constantly get 5% of all your referred friend earning on the platform as a hunter.
Then sign in and sync your reviewhunt account with your steem account via steemconnect by clicking on dashboard, and then logging into your profile to initialize this.
Makers do not have much to do on the platform yet since it is still in a closed beta launch for them. However, hunters will need to connect their social media account such as Twitter, Instagram, YouTube, Steemit, Reddit, Medium and Twitch via the buzz channel section under dashboard.
After that, hunters are required to join a campaign of your choice where by you get to carryout certain optional tasks, and then you get paid in form of hunt token for task accomplished at the end of the campaign.
Final Thought
Reviewhunt is a platform that has come to offer a win-win situation for both the hunters and the makers. The hunters get rewarded for their actions while the makers get the hype they need for their products. Thereby, making it a profitable one for both sides.
I have been observing for a while how the new HF21/22 is affecting my Voting Power at steemworld… Actually, I have seen some weird numbers regarding the worth of the very same percentage of Voting Power produces depending on which post I am upvoting on…
For instance, a couple of hours ago I saw that one follower (@kokoliso) decided to upvote with the very same VOTING POWER on two of my posts written yesterday.
According to steemworld, the two actions were done at the same moment or at the same minute… @kokoliso upvoted me with the same voting weight, first on a post that was earning 1.01$ and then on a post that was earning $4.94
What is weird here is that seems that the effect on the post rewards was different. As you can see in the previous image, same Voting Power seems that produced $0.01 on the first and less rewarded post and $0.02 on the second that was more rewarded…
So, I have done the same action myself upvoting 2 posts of equal earned amounts applying the same voting weight:
As expected here, 35% of my maximum Voting weight produced the same effect on two posts of equal earned value…The value of my upvote on both of them is worth $0.02 (Curation: 0.048 SP)
But what happens in case I use the same voting weight on an already high rewarded post?
Simply my upvote impact on the post is double in this case, $0.04 for the same 35% Weight Upvote !!! (Curation: 0.058 SP)
And why is it possible?
It is possible because the famous new rewarding curve which has a chart similar to the following:
If you use STEEMNOW from @penguinpablo you can find another useful tool to understand this point. There you can get the following chart:
Essentially, in that tool you can play with the MIN and MAX SP values, by default it shows the rewarding curve depending on the accumulated shares produced by the upvoters , so, for instance, if your post is voted 100% weight by one only account with 80000 SP, or the equivalem sum of upvotes with smaller SP, the chart will be the following:
In grey is drafted the old rewarding curve, in blue the new rewarding curve…
As you can see 80000 SP voting at 100% would worth $1.061 in the old curve and $0.955 in the current rewarding curve… 80K SP vote is still losing rewards…
How much should worth the post to be upvoted in order to be profitable for the upvoter without losing or, even better, getting further more than the expected linear rewarding voting system?
The post starts to be “profitable” starting if the sum of SP of the upvoters reaches 150K SP or, at the current STEEM internal price around $1.98 as you can see below…
From that value of $1.99, your UPVOTE IS WORTH HIGHER and so, it also multiplies the author and curation rewards of upvoters…
I think this example demonstrates who is winning now, Big Stakers, some shy Bid-Bot users and a few succeed authors…
Now the question is… How do we solve the problem of becoming visible in order to be considered a good author to support?
Should they buy 150000 STEEM and power up?
Should they buy Bid-Bot upvotes?
I frankly do not know… I am happy with the downvote effect over abusers and also glad with the Steem Proposal System and 50/50 author and curators rewards… But this rewarding curve is really too aggressive…
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:
Spread the word about Bitcoin and help change the world. Support this channel by getting your Bitcoin shirts, hats and apparel here:https://www.bitcoin-gear.com?aff=42
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The financial theme in 2019
has been the inverted yield curve. Why
is it so important…it’s only predicted the 5 or 6 recessions, meaning it has
given no false signals going back 50 years.
Another signal of a pending recession came last week when the US purchasing-managers
index contracted to 49.9 in August from 50.4 in July, the first such shrinkage
in almost 10 years.
The discussion of inverted yield curves is so important that I decided to repost my post on the topic from more than a year ago…withouth further ado.
A bond is like an IOU given to you by a bank. When you lend the bank money, they’ll give you back that same amount at a later time along with a fixed amount of interest. For example, if you bought a two-year bond for $100 with a 2% annual return on it, you get $104.04 back after two years. Bonds have a number of benefits that justify the small rate of return. Government bonds are stable investments and bonds issued by the US government have never defaulted…YET.
The term yield curve refers to the relationship between the short- and long-term interest rates of fixed-income securities issued by the U.S. Treasury. Typically, short-term interest rates are lower than long-term rates reflecting higher yields for longer-term investments due to the higher risks associated with long dated maturities. Also, in a growing economy, investors demand higher yields at the long end of the curve to compensate for the opportunity cost of investing in bonds versus other asset classes.
As the economic cycle begins to slow, the upward slope of the yield curve tends to flatten as short-term rates increase and longer yields stay stable or decline slightly. As concerns of an impending recession increase, investors tend to buy long Treasury bonds as a safe harbor from falling equities markets. As more and more investors begin to buy long-term bonds, the Federal Reserve lowers the yield rates. Since investors aren’t buying a lot of short-term U.S. Treasury bonds, the Fed will make those yields higher to attract them. Eventually, the yield on short-term bills rises higher than the yield on long-term bonds, and the yield curve inverts.
The inverted yield curve is the single greatest indicator of a coming bear market. The inverted yield curve has predicted the past 5 recessions going back to the late 1970’s. Every time the yield curve turns negative, a recession has occurred in the near future. Since 1956, equities have peaked six times after the start of an inversion in the yield curve and the economy has fallen into recession within seven to 24 months.
The most recent inverted yield curve first appeared in August 2006, as the Fed raised short-term interest rates in response to overheating equity, real estate and mortgage markets. The inversion of the yield curve preceded the peak of the S& P 500 in October 2007 by 14 months and the official start of the recession in December 2007 by 16 months, eventually leading to the Great Recession in which the S&P 500 dropped 50%.
This next inversion is upon us right now. Based on history, I’m predicting the yield curve will invert by the end of the year, the Markets will peak in 2019 and we will be in a recession in 2020 (a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters).
However, this time around balance sheets of the Fed and Treasury extremely over leveraged right from the start. Our national debt over $20 trillion dollars and the Fed’s balance sheet at $4.5 trillion. Thus, when the yield curve inverts for the third time this century, you can expect unprecedented chaos in markets and the economy to follow shortly after because the yield curve will not only invert at a much lower starting point than at any other time in history. This represents a huge opportunity for those that can identify these inflection points and know where to invest. Be sure I will be here to tell you those opportunities and how to protect your capital.
