So why is healthcare especially ripe for disruption by blockchain?It’s all about the data.
Archives for May 16, 2018
Regardless of the slow price action and dip in prices, Bitcoin is still king of cryptocurrencies and many altcoins anchor their moves on it. While we remain hopeful of future recoveries, it is likely that the past few days’ price appreciation is but short coverings. Notice that there is a clear failure to march past $9,000 since volumes are low and half below March 11 bear spike. I recommend shorts in lower time frames with targets at $6,800 in the short term.
From the News
In less than five months, traders all over the world shall gain access to a crypto trading app backed by a traditional exchange, Börse Stuttgart. Bison is the name of the app and it has one main objective: make crypto trading as easy as possible. In fact in the spirit of accessibility, registration and verification time would be done in minutes all thanks to the survey done by the company as they tried to pick pain points in customer crypto experience.
After an internal audit, UpBit is now free of damaging accusations of fraud and money laundering. Within a 12 hour span, close to $50 billion in market cap evaporated following news of a search warrant from the South Korea’s Intelligence Unit against UpBit. This was ironical because shortly before this directive, UpBit CEO was on the front line asking investors to report any form of ICO scam in exchange for cash reward. Among some of the accusations UpBit is not clear from include accusations of insider trading, trading using customer funds and money laundering. According to UpBit, the whole thing was a simple misunderstanding and at any time, as per the audit findings, they have never traded any coin(s) they never own.
Ironically, the world second largest Bitcoin mining hardware producer, Canaan is planning on listing at the Hong Kong stock exchange. In a bid to expand their services and revenue, they are looking for a $1 billion investment through an IPO sponsored by Deutsche bank, Goldman Sachs and Morgan Stanley.
— Bloomberg (@business) May 15, 2018
The money shall help them venture more into research now that they are looking on developing AI chips. Besides, they are now venturing into cryptocurrency mining as well as creating innovative home appliances that mine coins in the back ground.
Bitcoin (BTC) Technical Analysis
If we were to simplify, then we would say Bitcoin is moving within a $6,000 range defined by February 2018 high and low. Now, after periods of consolidation between those two highs, what stands out for me is the week ending February 4 candlestick which asserts the bear trend and week ending April 1 candlestick confirming this assertion.
So, with this in mind and the fact that the general trend is bearish, selling on resistances or retests would be akin to aligning trades with the trend. From this technical development, our first level of support is at $7,800. Any break below that means our $6,000 target is likely to be hit. This would be case especially if there are high volumes accompanying a consolidation bear break out.
So, like the weekly chart, Bitcoin prices are still trading inside a range but with a bearish skew. See those lower lows and most importantly the reaction from $6,000 in line with the current trend? That is important in our analysis and what is drawing my attention is May 11 candlestick.
Trade volumes are high relative to previous days and there is a mid-range push below $10,000-a region of minor support. Follow through bull candlesticks have been short on volumes. On May 15 we saw relatively high volumes confirming the bear pin bar at $9,000.
Aggressive traders can short now while aiming for $7,800 and $6,600. On the other hand conservatives can stay out of this trade and watch till prices are out of this consolidation.
The post (BitMain’s Main Competitor is Planning for a $1 billion IPO) Bitcoin (BTC) Technical Analysis appeared first on NewsBTC.
Other than Tron which somehow found support following their website overhaul, sellers are in charge in month coins. To give you a perspective, IOTA is down 20 percent in the last week for example and Litecoin is struggling to edge past $140. Instead what could happen is a slow down past $130 and $110 in the short term.
Let look at these charts:
Cryptocurrencies is a new wing of investment which even though is at its nascent stage continues to gain traction attracting investors and facilitators. Good news is eToro plans to expand its services to the US by launching an exchange and wallet later this year. This announcement was made at the Consensus 2018 meet up in New York and already it’s in Beta phase, being tested by select customers. Besides Bitcoin and Ethereum, investors should right away invest in EOS and seven other coins once the services are available.
It’s happening! We will be officially launching in the U.S this year! We will also be rolling out a #crypto wallet starting with selected users this week and, will be launching a crypto exchange later this year. – @yoniassia pic.twitter.com/U3IJ4o1e0e
— eToro (@eToro) May 15, 2018
In line with our previous projections, EOS is down nine percent in the last 24 hours and trending below our main support at $13. Aside the bear candlestick, note that consistent bear pressure might see prices testing $9.7. For that to happen, we must see strong volumes usurping last week’s average volume range and that’s exactly what is happening. Because of this, selling at every high-ideally at $14- with targets at $9.7 is ideal.
Soon, you shall crypto trade at Börse Stuttgart, German’s exchange handling more that $100 billion in volumes, through Bison. As it stands, Bison is the first app that stands behind a traditional exchange that does nothing more than simplify cryptocurrency trading. Trading on this exchange shall be free and there is no clear way stating how they are going to make money. Besides, new user registration and verification shall be completed within minutes.
According to our previous preview and price forecast, Litecoin continues to slide and is still moving within May 11 high low. Here’s the thing: as long as Litecoin sellers are in charge, it’s better to short. Therefore, in my view and of course considering support resistance zone, conservatives should find for over-valuation in lower time frames and sell. Ideal shorting triggers lie at $130 and if a break out happens with a surge in volumes, stops should be at $140 and targets at $110 as indicated before.
XLMUSD (Stellar Lumens)
At long last, there is movement in Stellar and this time, we are about to see one of the first corporate tokens on issue. In an announcement, IBM said that they shall be partnering with Veridium Labs to create what they call Credit Tokens. Veridium Labs is by itself a carbon rating company and Carbon Ratings for those who don’t know is the permitted amount of carbon a company or even a country is allowed to emit per year. These credit tokens shall be launched from the Stellar Blockchain and shall go forward towards aiding the conservation of Indonesian rain forest and reducing pollution.
— Blonde 2.0 (@Blonde20) May 15, 2018
Of course this is a novel idea and if this goes on well on this project, they may decide to scale and make this global further exposing Stellar Lumens to demand. Now, this is good news but there is nothing much to drum about when it comes to price action.
Sellers are in charge and volumes are within average. Before anything happens, I shall wait for a retest of 30 cents and observe how prices react. If there is a bounce then well and good, my buy triggers would be at 40 cents. Otherwise, any break below 30 cents with extra-ordinary volumes might see sellers driving Stellar Lumens towards 20 cents, our ultimate bear target.
Could Tron overhaul of their website help support prices? Well, of course there is excitement about everything Tron and EOS on extension especially when it comes to the mainnet count down. For us though, what is important is value and since Tron is down 14 percent for the week, we need participation if at all there would be reversals.
Indeed, that’s exactly what’s happening and after yesterday’s higher highs and moving within a wedge. So, while we are bearish in the short term, those who are yet to trade this can wait for a break out in either direction. Notice that yesterday’s volumes were higher and instead of moving lower, it inched higher further bringing prices to an accumulation. Therefore, for us to trade confidently, today’s candlestick holds all the clues. If it moves higher and break above 7.5 cents, buy on the break out. If not, sell when they are below 5.5 cents and aim at 5 cents.
Already, IOTA is the main form of payment for the eCommerce site, Tanglefy. It might be the first IOTA themed store in the crypto-verse but surely not the first. As demand for IOTA continue to rise, expect more stores to crop up. After all, a platform with a market cap exceeding $5 billion needs to have more than 99 projects as it currently stands.
Price wise, May 11 candlestick is that constant bear shadow scaring demand. After yesterday’s bear candlestick, aggressive traders can short and aim for $1.5 and $1.1 in line with the 20 percent week over week slide.
The Federal Reserve has been giving cryptocurrencies and their potential impact on the economy a great deal of thought lately. Most recently, Fed Governor Lael Brainard provided a rare tilt of the Fed’s hand on digital currencies, taking more time, offering more details than usual and demonstrating the resources that the agency has dedicated to understanding
The post Cryptocurrencies ‘Innovative’ But ‘Pose Challenges’: Federal Reserve Governor appeared first on CCN
GPU manufacturers Nvidia and AMD each enjoyed massive sales over the past year, partially thanks to miners who buy GPUs to mine cryptocurrencies. However, those sales are now declining. The demand for GPUs kept increasing as the value of cryptocurrencies went up throughout 2017. But after the market cap reached an all-time high of $830
The post Declining GPU Sales to Cryptocurrency Miners ‘Healthy’: AMD CEO appeared first on CCN
Social trading platform Etoro is expanding into the US. Pre-registration has already begun. Initially, 10 cryptocurrencies will be offered, but the company plans to add more throughout the year. The company’s crypto business has boomed in recent years, with 70% of its users reportedly trading cryptocurrencies.
Etoro Launching in the US
Social investment platform Etoro has announced that it is expanding into the US market. CEO Yoni Assia unveiled the company’s plans at the Consensus conference on Tuesday. According to the announcement:
The launch will initially enable U.S.-based users to invest in 10 cryptocurrencies, with more to be added throughout 2018. Users will have access to a community feed and tools, letting them engage in conversations about cryptocurrencies and follow the investment strategies of other U.S. users.
Launched in 2007, Etoro is regulated in Europe by Cyprus Securities and Exchange Commission and in the UK by the Financial Conduct Authority. The company says it has more than 10 million registered users across 140 countries in Europe, Asia, and Australia, with an accumulated capital funding of more than $162 million. Currently, its website shows 247,387,974 open trades on the platform.
Assia commented, “Etoro will continue to focus on simplicity and user-friendliness so that more diverse groups will feel welcomed into the global crypto community.”
Pre-Registration Begins for US Users
The company explained that US users can join the waiting list for the platform starting on May 15. “Users will be able to experience the interface and perform mock cryptocurrency investments via a virtual portfolio,” its announcement details, adding:
The 10 cryptocurrencies that will be initially available are: bitcoin, ethereum, litecoin, XRP, dash, bitcoin cash, stellar, ethereum classic, NEO, and EOS. Etoro intends to integrate several more cryptocurrencies throughout 2018.
“The platform will offer U.S. investors three ways to access the crypto markets,” Etoro described. The first way is “by manually investing in a coin.” The second is “by automatically copying the trades of other traders on the platform to benefit from their knowledge and investment expertise.” The third is “by investing in a Crypto Copyfund which provides a diversified portfolio of major crypto assets.”
A Copyfund is Etoro’s investment product aimed at helping investors minimize long-term risk, its website states. “Once you invest in a Copyfund, your capital is professionally managed by Etoro’s investment committee. Each Copyfund’s performance is analysed in depth and rebalanced automatically to maximise its gain potential.”
Etoro’s Booming Crypto Business
In January last year, the platform added cryptocurrencies. According to Fortune, “In recent years, the company’s crypto business has boomed with 70% of its users trading digital currency.”
In an interview with the news outlet, Assia predicted that Etoro’s “unusual social media features would help it gain a foothold” in the US. “Those features let users create a public profile of their investments, which in turn allows others on Etoro to track and copy their trading decisions.”
Commenting on the crackdown by the US Securities and Exchange Commission (SEC) targeting tokens that resemble securities, Assia told the publication that he is confident “the digital assets Etoro plans to list are currencies not securities.” He expects Etoro will list as many as 15 tokens by the end of the year, the news outlet conveyed, adding that the company also “plans to open a global wallet and exchange service later this year that is aimed at institutional traders.”
Currently, the aforementioned ten cryptocurrencies are already being offered on the platform for non-US users.
What do you think of Etoro launching in the US? Let
In a landmark embrace of technological innovation, the US Securities and Exchange Commission (SEC) has announced that it will issue its own cryptocurrency – HoweyCoin – through an initial coin offering (ICO). Okay, that’s not actually true, but the agency has constructed a clever campaign intended to teach investors how to identify ICO scams –
The post ‘HoweyCoin’: SEC Trolls Crypto Fraudsters with Fake ICO Campaign appeared first on CCN
The CEO of payments company Square has said that he wants his firm to help Bitcoin become a global payment choice.
Dorsey: ‘We Could be in Every App Store Instead of Five’
Jack Dorsey, the founder and CEO of Square and the co-founder and CEO of social media platform Twitter, was speaking at the Consensus conference today in New York.
“The internet is going to have a native currency so let’s not wait for it to happen, let’s help it happen. I don’t know if it will be bitcoin but I hope it will be.”
Dorsey is of the opinion that the use of the number one digital currency or another altcoin as a global payment would lower the barrier for the payment company to enter new markets, reports CNBC. He added:
“If we were able to use it a currency today, we could release our apps in every app store around the world instead of the five we’re in.”
He stated that as the company deals with fiat currency it had to approach the market differently, find a unique banking partner, and work with different regulators.
This isn’t the first time that Dorsey has been bullish on the future of Bitcoin. In March, it was reported that the Square CEO said that he believed the digital currency would become the globally accepted ‘single currency‘ of the Internet within the next 10 years.
In November, Square began the introduction of Bitcoin buying and selling options on Square Cash, the mobile payment app developed by Square, for a small section of their users. Since then the payment company has rolled out additional features for its users, which now sees them able to buy, sell, and transfer Bitcoin with the app. Dorsey has also committed personal funds to Lightning Labs as the team continues its work on the Bitcoin scaling proposal known as the Lightning Network.
Earlier today it was reported that Square Cash is growing at a faster rate compared to PayPal’s Venmo, according to Nomura Instinet. Analyst Dan Dolev said that with the roughly 28 million downloads, the number of Square Cash downloads was just one million fewer than Venmo’s levels.
In a note to clients, Dolev stated that:
“Historically, Venmo saw more downloads versus Square, but the gap appears to have peaked in July 2017.”
In the first quarter of 2018, Square reportedly sold $34.1 million in Bitcoin; however, it spent $33.9 million purchasing the cryptocurrency, meaning it’s adjusted revenue amounted to $200,000.
Featured image from Shutterstock.
The post Jack Dorsey Wants to Help Get Bitcoin Adopted as a Global Means of Payment appeared first on NewsBTC.
With the growth in number of blockchain-based decentralized apps (Dapps) that are running on various networks and protocols, it is becoming increasingly difficult for users to locate and make use of these Dapps. According to the announcement, the Blockstack Dapp Store is “a discovery tool for decentralized apps built on Blockstack, Ethereum, EOS, IPFS, Steem, and more … serving as an aggregator of usable Dapps for gaming, social networking, productivity, and financial services.”
The store features decentralized counterparts to many popular applications, such as Stealthy for WhatsApp, DTube for YouTube, Peepeth for Twitter, and Graphite for Google Docs. Many of these Dapps are not yet at a 1.0 release level and, depending on the network they are running on, may require you to pay processing fees for the network, like gas for Ethereum.
The store is nicely arranged, clearly showing the category that the Dapp is part of as well as the blockchain protocol it supports, such as Ethereum or Steem. A usability feature that is currently missing is the ability to search, sort and filter, which needs to be addressed in the near future to allow the platform to scale. There is a simple form to fill in to add your Dapp to the store, but it is not made clear what the process and timeline for approval might be. According to their announcement, Blockstack uses the following criteria to evaluate if an app is in fact a Dapp:
- Do customers own their network identity? Can anyone else revoke that identity?
- Is private user data encrypted with user-owned keys?
- Is customer data stored on decentralized networks with reconfigurable APIs?
- Is the app open source? Can community members contribute or fork the software?
- Is the app publishable and hostable by others or only a single company?
- Is the app running client-side or on a server?
- Does the app limit or clearly communicate the scope of data logging?
Blockstack PBC will initially curate and maintain the Dapp Store, but have plans to eventually implement user ratings for ranking Dapps across the ecosystem as it gains wider acceptance. Their goal is for wide-scale community involvement to show how a truly decentralized experience can work outside of the stranglehold of a few large corporations on software and information.
This article originally appeared on Bitcoin Magazine.
Jack Dorsey — CEO of both Twitter and Square — hopes that bitcoin will one day be the internet’s native currency. Dorsey made this statement during an interview with Elizabeth Stark of Lightning Labs at a fireside chat today at the Consensus 2018 conference in New York. Dorsey revealed that grew up in St. Louis, MI
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