Like every other economy in the world, the Japanese economy is slowing down. But the Japan has one competitive advantage over most countries. Japan is a very large exporter. Now you might say China is a large exporter as well. But Japan has been one for many decades and as a result, has become the largest net creditor to the world. So during times of uncertain, capital flows out of other currencies and into the Japanese yen, causing it to strengthen. This is way the Yen is considered a safe haven currency.
With continued rife between the US and China, an inverted yield curve in the US, negative German bond rates, the Brexit deadline fast approaching, I remain super bullish on the Japanese Yen. Lets go to the charts to see where the Yen might be headed next.
Monthly Chart (Curve Timeframe) – monthly supply is at 0.0103 and monthly demand at 0.00805.
Weekly Chart (Trend Timeframe) – the trend is sideways with upside momentum.
Daily Chart (Entry) – the chart suggests to go long if and once price breaches the the daily supply at 0.00953.
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.
Following a visit to Switzerland to meet with the country’s financial regulators, United States lawmakers are still concerned over Facebook’s proposed cryptocurrency project, Libra.
Meetings with multiple agencies
According to an official statement from Representative Maxine Waters published on Aug. 25, members of the U.S. House of Representatives Financial Services Committee met with multiple regulatory agencies and lawmakers. These included the State Secretariat for International Financial Matters, the Federal Data Protection and Information Commissioner and the Financial Market Supervisory Authority.
As announced earlier this month, the representatives aimed to clarify how various Swiss authorities would regulate Libra and learn more about the status and magnitude of the project. Despite being helpful, Waters said of the meetings:
In case you missed it, a new self-proclaimed Satoshi Nakamoto came out of the woodwork last week, this one brandishing a “proof” based on numerology and an obsession with BCCI, the scandal-ridden bank that collapsed in 1991.
The widely debunked “reveal” from Bilal Khalid, aka James Caan – Khalid officially changed his name to that of the American actor – followed a host of equally absurd developments in a Florida court case against the other “Faketoshi,” Craig S. Wright. These included a hand-written note to the judge in which yet another person, one Debo Jurgen Etienne Guido, also laid claim to being bitcoin’s secret progenitor.
Sensible minds in the crypto community remind us that this is all a sideshow, that these competing claims to bitcoin’s creation ultimately mean nothing to its value proposition.
It is a truth universally acknowledged that crypto aficionados love Burning Man.
Both the long-running festival in the Nevada desert and the bitcoin ethos revolve around openness to exploring new governance models with fewer rules.
Take me, for instance. I still have the colorful Burning Man ticket from 2010, when, like so many future bitcoiners, I went to camp in Black Rock City for a week in late August. Back then, I showed up with little more than a tent, a bikini and a Costco-sized bag of marshmallows to barter for supplies. There were no rules about how to trade these treats or attire myself, so in the free market of campgrounds I did quite well.
Then, just earlier this month, the company became the subject of a blackmailing and extortion attempt from a hacker who allegedly gained access to several users’ photo IDs originally used for KYC purposes. The hacker demanded a bitcoin ransom in exchange for the photos remaining safe and unseen.
As a result, Binance today announced that the investigation into this latest breach remains ongoing. And that while the company maintains that many of the images are photoshopped or altered in some way, it now admits that some of the pictures correspond with those that it sent to a third party, which Binance contracted over a period of two months.
We are seeing a very high level of fear (or low level of greed). I posted below a graph of their Fear & Greed Index followed by a graph of the Bitcoin Price.
In the last 18 months, the indicator dipped strongly 2 times before and when it did you can see the reaction by BTC a few weeks later !
AXpire burns 20,000 AXPR as a part of burning percents of aXpire’s revenues.
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
Today, we had an important UP in the direction of the 0.21$ resistance line. The rejection was quiet big as we can see that on the same candle, we almost touched that level to go directly lower after. Most of the time this kind of candle is a very bearish signal but let’s see what will happen in the coming hours. If the BTC is going to make a nice UP, I expect that we test quickly again that resistance line. In case of correction on the BTC, this will validate the bearish candle pattern.
But just by having a look at the @steemit account and its “operational” withdrawing account , aka @gsr-io, at Steemworld I think I get reason why.
@steemit haven’t stopped powering down… actually is transferring a big amount of liquid steem to @gsr-io , as usual, very regularly which is currently “storing” around 600000 Liquid Steem but…
You know what?
The last withdrawing operation straight to the exchanges from that account, @gsr-io , was placed on August the 12th…
No more transfers since then, and this is a great NEW because the frequency of these operations were set at least on a weekly basis if not in less time…
Consequences? Selling pressure is relaxing, people is buying maybe because Hardfork21 is approaching and that could create some expectatives…but the most important is that they stop selling…for the moment, remember that there are around 600000 Steem at the “Launching” account and around 2M Liquid Steem more ready to be transferred…
I hope they will keep for some days more the selling pressure low…however, they are not fools at all…
Back form holidays but still not working since we are on the weekend but, finally I have time to analyze the Daily BITCOIN chart in a more accurate manner. I have redone my EW-count and I think I found an structure that will fit with the current situation.
The structure is a Bouble Combo Correction (WXY) which is composed by the combination of three main Legs:
W Leg: Can be any Zig-zag or Flat correction
X Leg: Can be any Zig-zag, Flat , triangle or combo as well
Y Leg: Can be a Zig-zag, Flat or a Triangle
Only one triangle is allowed and it can be formed either on X or in Y but not in both. If it was the case that two triangles were formed at X and Y, the pattern would be different (Double Zig-Zag) with different results, so since the X leg is a ZIG-ZAG, a triangle may be formed on the Y Leg…or not :-)..
So, in my opinion there are two main scenarios in order to end the correction:
Y leg ending in a pure Flat Correction: Level of price would be similar or slightly below “W” , i.e. around 9000 USD as the main known support
Y leg is a triangle which will push the price lower, in search of the inclined blue line, i.e. 7600 USD
Looks like September is going to be an excellent month for the whole Crypto Market.
@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.
While drinking rates are declining globally, particularly among young people, in the UK, baby boomers (aged 55-64) remain the most likely to drink heavily and are the least likely to abstain from drinking alcohol.
The universal decline may therefore be more of a polarisation around drinking, with the decline of overall consumption levels potentially masking on-going heavy drinking among some young people and particularly older ones.
In the UK, the 4% of the population who drink the most heavily are responsible for c. 30% of all alcohol purchases, and alcohol-related deaths as well as hospital admissions are growing significantly in recent years.
Analysis and Comments
It is estimated that over 20% of the population does not drink at all, and its c. 30% for people under 24 (the data is not very precise). It is also estimated that c. 4% of the population drink around 30% of the alcohol consumed and that these consumers make up c.25% of industry profits. In addition, and perhaps more worryingly, deaths related to alcohol misuse are the highest in a decade, with related hospital admissions up 67%.
The implications are fairly stark for Beverages companies – in Western markets we should expect a continuing shift away from consumption of mass market beer, toward premium beer, wine & spirits. This is not necessarily bad news for drinks companies, they have been repositioning themselves for this shift for some time. Plus emerging markets consumption is still rising and the trend toward premium (i.e. more profitable) drinks continues.
As I wrote in this post a few weeks ago when I digged into HF21, I believe this will be very positive for the STEEM price in the Medium Term.
Now that we have different tokens (thanks to Steem-Engine and soon to SMTs). The ecosystem is flourishing quickly through the many dapps that you all use daily.
With this new HF21, stakeholders (therefore investors) might play a bigger role curating and harvesting more value of the STEEM Blockchain. In order to do so, they will have to increase their SP Holdings (which we are seeing during the past 2 days).
STEEM Price is performing very well ahead of HF21
I read daily very carefully @penguinpablo reports. In the past days, we have seen Steemians STAKING more than they were Unstaking ! Yes, you read that right.
This has not been the case for a long, long time and I believe considering the current price of STEEM outperforming the Crypto Market, a few more days like this and we could get into a STEEM Frenzy again.
Steemians and Investors have been powering up in the past 2 days
I have been buying STEEM in the past months and will try to do so before HF21.
Active Steemians Writers are also staking
I came accross this post from a fellow Steemian @toofasteddie: https://steemit.com/newsteem/@toofasteddie/harvestingtime-7yr6gb5xmq
In this post, he is explaining why he sells its STEEM Alts to Buy more STEEM before the upcoming HF.
I think, to make STEEM price continue on this trend, we just need a few hundreds of Steemians, before outsiders see the move and amplify it !
Cryptocurrency exchange Binance has confirmed user funds are not at risk after a reported technical problem began affecting withdrawals.
According to CEO Changpeng Zhao, also known as CZ, the situation was being resolved on Aug. 23, while funds security was not compromised.
“Funds are #safu,” he wrote on Twitter, employing a now well-known catchphrase he had previously inadvertently created while confirming there was no danger to cryptocurrency holdings.
Ethereum could become the first public blockchain on Hyperledger – if the open-source consortium’s technical steering committee approves a proposal to adopt the ConsenSys-backed Pantheon project.
Pantheon is a suite of ethereum-based services built by PegaSys, a 50-strong engineering team at ConsenSys. The Pantheon ethereum client, built on Java, is used to develop enterprise applications with features like privacy and permissioning.
The proposal was sent out in a Hyperledger mailing list email on Aug. 8, and if it is accepted, Pantheon will be renamed Hyperledger Besu (a Japanese term for base or foundation).
The approval would bring Pantheon’s protocol under Hyperledger, joining blockchain projects like Hyperledger Fabric by IBM and Hyperledger Sawtooth by Intel.
Coinbase Wallet’s decentralized web feature will allow users to link to supported Dapps from any browser using a new system called Walletlink.
The San Francisco-based cryptocurrency exchange announced today in a blog post, the open-sourced Walletlink acts as a “secure bridge” between the Coinbase ecosystem and the traditional web.
The feature will enable Coinbase Wallet users to access and administer their funds – separate from their crypto holdings on Coinbase.com – from a desktop Dapp interface for the first time, said Coinbase Wallet product lead Sid Coelho-Prabhu.
Circle is hiring a new general partner to raise a $100 million venture capital fund.
The fund will take advantage of the deal flow coming through SeedInvest, the equity crowdfunding startup that Circle acquired in March 2019.
The listing on LinkedIn says: “The Partner will be expected to develop and drive an investment thesis designed to leverage SeedInvest’s sizable deal flow and its unique network of 250,000 investors to maximize returns.” SeedInvest emphasizes itself a registry of potential startup investments that have been thoroughly vetted by the firm before they are shown to users.
San Francisco-based nonprofit Kiva, a company that crowdfunds loans for financial inclusion, has launched a blockchain platform for credit history with the government of Sierra Leone.
According to a Reuters report on Aug. 21, Kiva and President of Sierra Leone Julius Maada Bio jointly launched the blockchain initiative in the country’s capital.
The platform will use biometric data collected by the government, such as fingerprints, in order to access the credit history of citizens in the country. This will purportedly give a way for lenders to obtain citizens’ credit history.
We are seeing a very high level of fear (or low level of greed). I posted below a graph of their Fear & Greed Index followed by a graph of the Bitcoin Price.
In the last 18 months, the indicator dipped strongly 2 times before and when it did you can see the reaction by BTC a few weeks later !
“We invite you this Friday to learn more about #AE’s #Sophia language, #statechannels and #Starfleet incubator.”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
So the bounce from the support line created from the lows looks quiet powerfull. We are going quickly in direction of the resistance line at 0.18$. The question will be to see if we will be able to break it this time or if we will play ping pong between these 2 lines. Stay carefull, I’m not sure that the bounce on the BTC will continue so we could be heavly impacted on the STEEM.
According to a new survey by Harmony Healthcare IT, millennials prefer getting medical advice online to going to their doctor; 76% of the respondents said they used specialized websites like WebMD or news articles.
It highlights the current transformation of the healthcare sector. Millennials, who will outnumber baby boomers by 20m in 2030, are favouring retail clinics and telehealth for healthcare treatment. The online presence of traditional providers is also important: 65% said they only see doctors who can be found online, with 48% saying they would prefer to have a virtual visit with a doctor than an in-person appointment.
One of the main argument is cost: WebMD for instance, the first choice website for those surveyed, is free, which makes it the economically more sensible option, as only 35% of those surveyed set aside savings for medical emergencies, with 51% of those saving less than US$100 per month.
Analysis and Comments
The first thing that is probably important to note about this survey is that the respondents are American (which explains the emphasis on cost advantages).
However, a much larger study conducted by Accenture in February looked at four times as many consumers from all around the world and came to similar conclusions: there is a shift away from traditional care offerings, towards online alternatives.
Importantly, this shift was not only found among members of the youngest generations (Millennials and Gen Z), but also Generation X (the one after the Boomers).
We are seeing a very high level of fear (or low level of greed). I posted below a graph of their Fear & Greed Index followed by a graph of the Bitcoin Price.
In the last 18 months, the indicator dipped strongly 2 times before and when it did you can see the reaction by BTC a few weeks later !
American cryptocurrency exchange Kraken is adding support for Basic Attention Token (BAT) and Waves (WAVES.)
According to an announcement on Aug. 21, the exchange’s users will be able to deposit, withdraw and trade both assets starting Aug. 22. Kraken will roll out trading pairs between BAT and WAVES and Bitcoin (BTC) and Ether (ETH,) as well as with fiat currencies such as the euro and the U.S. dollar.
“The first trade executions will take a bit longer because sell orders cannot be placed until deposits are credited,” the post adds.
Bitcoin quickly fell from $10,842 to $10,082 earlier today, confirming a rising wedge breakdown on the hourly chart. The bearish reversal pattern has opened the doors for a retest of $9,467 (Aug. 15 low).
On the way lower, prices may find support at the 100-day moving average, currently at $9,882. The average served as strong support earlier this month.
The bearish case would be invalidated if prices rise above $11,000 with high volumes in the next 24 hours. As of writing, that looks unlikely. A convincing move above $12,000 is needed to revive the bullish setup, as per the weekly chart.
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has sanctioned three Chinese nationals and their cryptocurrency addresses, alleging they violated money laundering and drug smuggling laws.
OFAC named Xiaobing Yan, Fujing Zheng and Guanghua Zheng as narcotics traffickers under the Foreign Narcotics Kingpin Designation Act, freezing any property they own within the U.S. and listing a number of email aliases, citizen numbers and passport information for the three.
The agency also listed a number of bitcoin addresses, as well as one litecoin address, that the agency claims belong to the Chinese citizens.
Ethereum wants to translate all of its resources into 15 languages as part of a push to make the network more accessible, the Ethereum Foundation announced yesterday.
The foundation says it’s only focusing on translating its website at the moment—Ethereum.org—but has plans to expand its translations to include “important community resources like documentation, guides, blog posts, and more.”
Its first full translation, Ethereum.org/ko, is the result of a team of eight translators led by Taeyeon Kim, and translates everything on Ethereum’s recently relaunched site into Korean.
San Francisco-based nonprofit Kiva, a company that crowdfunds loans for financial inclusion, has launched a blockchain platform for credit history with the government of Sierra Leone.
According to a Reuters report on Aug. 21, Kiva and President of Sierra Leone Julius Maada Bio jointly launched the blockchain initiative in the country’s capital.
The platform will use biometric data collected by the government, such as fingerprints, in order to access the credit history of citizens in the country. This will purportedly give a way for lenders to obtain citizens’ credit history.
“Trading will start at 18:00 on August 22, 2019 (UTC+8) and withdrawal will open at 20:00 on August 22, 2019 (UTC+8).”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
So the worst case that I was talking about yesterday just happened. We are now testing the low and the support line that I traced for you which has been created by the 2 previous lows around the same level. Till now we have a bounce from this support line but let’s see if it will be enough if the BTC continues to correct.
