Upon any visit to crypto Twitter or any online cryptocurrency community for that matter, and you’ll be hard pressed to avoid over the top shilling of the recent IEO tokens, notably the Binance Launchpad-born tokens, Harmony One, Celr, Fetch, BitTorrent Token, and the Coinbase Ventures-backed Matic.

The Deputy Prime Minister of Italy has proposed a new tax on cash and other valuables held by citizens at banks. If actually imposed, the measure could drive people towards Bitcoin as a way to keep their savings safe from cash-strapped government ministers.The proposal comes as rising geopolitical tensions are impacting other investment markets, making value held in cash and other valuables a more attractive option for many.Would the Italian Government Coming After Private Savings be a Catalyst for Bitcoin Adoption?According to a report published earlier today by Reuters, Italy’s government may consider taxing its citizens’ private savings held in safety deposit boxes at banks.The report states that the nation’s Deputy Prime Minister, Matteo Salvini, made the proposal on a late night TV programme yesterday. It was picked up by the domestic press this morning.Salvini reportedly stated that he had been informed that there were hundreds of billions of euros stored as cash and other assets in safety deposit boxes around the country.He described the savings of his citizens as being “substantially hidden” money, implying that the government has some ordained right to know what the Italian people as individuals have managed to save.He went on to state that citizens that were open about their holdings would be taxed at a lower rate than those who were less forthcoming with information about their savings.If the Italian government do implement such a measure, its citizens may very well turn to other means of storing value to protect their savings. One Bitcoin proponent mused that such a policy could be favourable to the crypto asset via Twitter earlier today:This is bullish for bitcoin 🚀Italy could end up being the best thing to ever happen to bitcoin.H/t @Ray94609549 https://t.co/TmkS7FZICl— Alex Krüger (@krugermacro) June 12, 2019As highlighted in the above Tweet, the news comes as Italian retail deposits hit a new all-time high and geopolitical tensions continue to rock European markets. A recent report by Financial Times shows that share prices of the Eurozone’s largest companies recently hit a five month volatility peak. Tensions in Europe itself relating to Brexit and geopolitical worries overseas caused by the ongoing US/China trade war and fear of the pending collapse of a nuclear accord with Iran are driving the current instability.Therefore, it does indeed seem possible that some of those Italian investors on the lookout for a safer haven than traditional markets and concerned about the government taxing their savings may well turn to Bitcoin. That said, given the perpetual volatility of Bitcoin, it remains unlikely that the crypto asset market will see any serious influx of capital in the form of life savings of Italians being poured into the market.However, given that Bitcoin is much harder for governments to come after than funds held in safety deposit boxes and that the market is entirely uncorrelated to stocks or fiat currencies, it still seems plausible that some will take a high risk/high reward hedge against the current fiat system that seems to be edging ever closer to meltdown. Related Reading: Bank of Italy Feels People Shouldn’t Create Their Own CurrenciesFeatured Image from Shutterstock.

Ethereum (ETH) and the aggregated crypto markets have incurred a sudden influx of buying pressure today that has allowed them to extend the upwards momentum that they have incurred over the past couple of months.Analysts now believe that Ethereum will continue climbing higher in the near future, and possibly outperform Bitcoin over a longer-time frame, due to growing technical strength and increasing adoption from major companies like Ubisoft.Ethereum Climbs Higher Amidst Widespread Crypto Market SurgeAt the time of writing, Ethereum is trading up nearly 7% at its current price of $257, up significantly from its 24-hour lows of $240 which were set earlier today.This massive surge has allowed ETH to surge to fresh weekly highs and has brought it closer to returning to its year-to-date highs of $285, which were set in late-May when the entire crypto markets briefly surged before incurring significant selling pressure that sent them reeling lower.Currently, Ethereum is one of the top performing altcoins of the day, and is closely trailing behind Litecoin, which has been leading the market surge over the past several days, surging a whopping 31% over the past seven days.The Cryptomist, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that she believes ETH could continue surging higher in the near-future, and could possibly surge to $300 by July.“$Eth: This looks good! Falling wedge potentially present. If I am right about $Btc falling wedge, then there is no reason why we should not see $300 before end of July. We still could see one final touch upon $222 region. Regardless I am holding and buying on dips,” she noted.$EthThis looks good! Falling wedge potentially presentIf I am right about $Btc falling wedge, then there is no reason why we should not see $300 before end of July 😊We still could see one final touch upon $222 region.Regardless I am holding and buying on dips! pic.twitter.com/tOKh9mLKXP— The Cryptomist (@TheCryptomist) June 12, 2019Analyst: ETH Could Outperform Bitcoin in the Next Two YearsAlthough it does seem reasonable to conclude that ETH will continue surging higher in the coming days, one analyst believes it will significantly outperform Bitcoin in the next 24-months.Bitcoin Jack, another popular crypto trader on Twitter, explained that he believes that Ethereum’s long period of consolidation against BTC will allow it to surge significantly higher over the coming years.“Unpopular opinion: $ETH will outperform $BTC in the next 24 months. Facts: – $BTCUSD 14/15 consolidation 288 days to breakout – $ETHBTC consolidation 278 days and counting, one of the largest consolidations in crypto – The only large scale secure decentralised SC network,” he said while referencing the below charts.Unpopular opinion:$ETH will outperform $BTC in the next 24 monthsFacts:– $BTCUSD 14/15 consolidation 288 days to breakout– $ETHBTC consolidation 278 days and counting, one of the largest consolidations in crypto– The only large scale secure decentralised SC network 🤓 pic.twitter.com/xcvOLJQLAv— Bitcoin 𝕵ack (@BTC_JackSparrow) June 12, 2019One possible factor that could help Ethereum’s performance is increasing rates of adoption. Most recently, it was announced that gaming giant Ubisoft may be looking to utilize the Ethereum blockchain for games and in-game features. This type of adoption could be incredibly favorable for ETH, assuming it is ultimately utilized for in-game market transactions.Although it is difficult to accurately predict where the crypto markets will head over a macro-time frame, it does seem increasingly apparent that the markets are currently in a firm uptrend that will likely persist for the foreseeable future, which could allow altcoins like Ethereum to post significant gains.Featured image from Shutterstock.

As the years pass by, Bitcoin and crypto assets continue to take a more dominant place within popular culture. In recent years, we’ve seen supernatural Netflix originals in which ETH usage is an accepted part of life, the topic of crypto come to the attention of mainstream media personalities such as Ellen DeGeneres, and even international rappers lamenting the fintech innovation on record.The latest reference to crypto in mainstream popular culture comes from the video game industry. The forthcoming instalment of the Watch Dogs series is reportedly based in a post-Brexit London in which a crypto asset has replaced pound sterling as the currency in dominant use.Another Big Media Appearance for CryptoMany crypto advocates like to speculate on possible drivers for Bitcoin and cryptocurrency mass adoption. One of the most often-repeated potential catalysts for such a move away from fiat is political instability.The creators of the Watch Dogs video games explore this concept in the third and latest instalment of the series: Watch Dogs Legion. The game was announced at this year’s E3 gaming expo, during the Ubisoft press conference.However, rather than base the action in Venezuela, Turkey, or some other nation in which the population is already rumoured to be toying with the idea of a crypto assets to escape from desecrated national economies, the Ubisoft team have instead opted to set Legion in post-Brexit Britain.According to GameInformer, a news publication covering the video game industry in depth, the title’s director of game design, Kent Hudson, stated of the latest release:“We have created a near future version of the city where technology has taken a dark turn and society is on the brink of collapse. In short, London is seeing her downfall. It’s a time of social crisis: AI is devastating the economy, the pound has collapsed and is being replaced by cryptocurrency, organized crime has taken a resurgence.”According to a report in UK news publication The Telegraph, the action follows a group of hackers, known as Dead Sec, who have formed a resistance movement against the military leadership that has taken control of British government.Interestingly, like within the crypto asset space, decentralisation seems to be one of the central themes of the new title. Rather than play as a single member of the hacktivist group, you can swap and change them at leisure. This removes any central character from the efforts of the “good guys”.The creative lead on Legion, Clint Hocking explains: “It’s not about the hero who’s going to come down from the mountain and save us all. We really wanted to abdicate that notion that there’s someone in the end who’s going to be responsible for it all. It’s not – it’s going to be us… It was really tough to give up on the things we could achieve with the ease of having a core protagonist. But then again all of the innovation is driven towards making it so that anyone you pick off the street can be that protagonist for you.”Unfortunately, there is little information about how the cryptocurrency is used in the society portrayed in Watch Dogs Legion yet. However, from clues to the game’s plot divulged at E3, it sounds like crypto asset use has become a matter of necessity thanks to the crashed economy, rather than free choice or one that has been forced on the population from above. Unfortunately, you’ll have to wait until March 6, 2020 to see for yourself how the concept of digital currency works within the game narrative though.Although this detail is unclear, for now, it’s certain that the more crypto assets receive such mainstream attention, the more they are normalised in society, and the further the public perception gets from tried old “drug dealer” and “money launderer” rhetoric of yesteryear. This can only be good for long-term crypto and Bitcoin adoption.To get you in the mood for Watch Dogs Legion, here’s the trailer. Related Reading: Pop Culture Shift: Nike Forays into Crypto as Technology Continues Going MainstreamFeatured Image from Shutterstock.

Throughout most of 2019, Litecoin – the cryptocurrency forked from Bitcoin’s codebase by former Google programmer Charlie Lee – has led the entire crypto space out of the depths of the longest bear market on record. Much of the bullish sentiment surrounding Litecoin price is being driven by pre-halving speculation. Profit-hungry crypto investors have been buying up Litecoin ahead of a potential price increase.

Bitcoin (BTC) adds 6.1 percentAhead of next year’s halving, BTC is likely to inch higherTone Vays, a Bitcoin supporter and a former Financial Analyst at JP Morgan, is edgy of the current uptrend. BTC is ranging, and prices aren’t steady above $8,000. That’s what’s visible in the daily chart. Therefore, unless otherwise there is a break above $8,500 and later $9,100, BTC may topple below $7,500.Bitcoin Price AnalysisFundamentalsThus far, it has been a perfect start for cryptocurrency investors. Recording double-digit gains over the last two quarters, Bitcoin is a standout. Even so, that is not deterring bears from hitting back and capping progress.In the last three or so weeks, it is evident that prices are ranging inside a $1,000 zone. That’s a classic accumulation as this is printing in a clear bullish trend. However, since halving is next year, coinciding with a significant political event in the US, BTC investors are optimistic.Already, the expectation of a favorable price repricing is prodding demand in Litecoin. Rallying above $130 at the time of writing, Litecoin, a protégé of Bitcoin designed purposefully to complement the network, is up five-fold after hitting rock bottom in mid-Dec 2018.Behind this euphoric rally is August’s halving. If Litecoin, therefore, becomes a blueprint, odds are-and this happened before, BTC could surge to near highs.Arthur Hayes, the CEO, and founder of BitMex said he his confident prices would surge to $50,000 by the close of the year. Ahead of BTC halving, the same may happen as many analysts concur on this possibility.Candlestick ArrangementWhile there is no reason to trust bulls as Tone Vays warns, BTC bulls have the upper hand. If anything, $8,000 is a psychological price tag and a vital level for traders. As a reminder, it is crucial for bulls to not only build the momentum required for thrusting prices above $8,500 and $9,000. Notwithstanding, priming this upsurge must be high participation.That will be a litmus test gauging the strength of buyers, a prerequisite for a trend continuation. As it is, there is an opportunity for aggressive traders to buy the dips as long as BTC is above $7,500.However, that will largely depend on the confirmation of the three-bar bull reversal pattern of June 4th through 10th. Ideally, the perfect entry is above $9,100. Such a break above May high would trigger the much-needed wave that could push BTC to above $10,000 and $12,000.Technical IndicatorsTrading volumes are shrinking despite the expectations of better prices. For trend continuation, trading volumes that would thrust prices above May high must usurp those of May 30th of 31k or even 47k of May 14th. Similarly, any liquidation below $7,500 must be with equally high trading volumes nullifying this trade plan.Chart courtesy of Trading View. Image Courtesy of Shutterstock

Bitcoin (BTC) adds 6.1 percentAhead of next year’s halving, BTC is likely to inch higherTone Vays, a Bitcoin supporter and a former Financial Analyst at JP Morgan, is edgy of the current uptrend. BTC is ranging, and prices aren’t steady above $8,000. That’s what’s visible in the daily chart. Therefore, unless otherwise there is a break above $8,500 and later $9,100, BTC may topple below $7,500.Bitcoin Price AnalysisFundamentalsThus far, it has been a perfect start for cryptocurrency investors. Recording double-digit gains over the last two quarters, Bitcoin is a standout. Even so, that is not deterring bears from hitting back and capping progress.In the last three or so weeks, it is evident that prices are ranging inside a $1,000 zone. That’s a classic accumulation as this is printing in a clear bullish trend. However, since halving is next year, coinciding with a significant political event in the US, BTC investors are optimistic.Already, the expectation of a favorable price repricing is prodding demand in Litecoin. Rallying above $130 at the time of writing, Litecoin, a protégé of Bitcoin designed purposefully to complement the network, is up five-fold after hitting rock bottom in mid-Dec 2018.Behind this euphoric rally is August’s halving. If Litecoin, therefore, becomes a blueprint, odds are-and this happened before, BTC could surge to near highs.Arthur Hayes, the CEO, and founder of BitMex said he his confident prices would surge to $50,000 by the close of the year. Ahead of BTC halving, the same may happen as many analysts concur on this possibility.Candlestick ArrangementWhile there is no reason to trust bulls as Tone Vays warns, BTC bulls have the upper hand. If anything, $8,000 is a psychological price tag and a vital level for traders. As a reminder, it is crucial for bulls to not only build the momentum required for thrusting prices above $8,500 and $9,000. Notwithstanding, priming this upsurge must be high participation.That will be a litmus test gauging the strength of buyers, a prerequisite for a trend continuation. As it is, there is an opportunity for aggressive traders to buy the dips as long as BTC is above $7,500.However, that will largely depend on the confirmation of the three-bar bull reversal pattern of June 4th through 10th. Ideally, the perfect entry is above $9,100. Such a break above May high would trigger the much-needed wave that could push BTC to above $10,000 and $12,000.Technical IndicatorsTrading volumes are shrinking despite the expectations of better prices. For trend continuation, trading volumes that would thrust prices above May high must usurp those of May 30th of 31k or even 47k of May 14th. Similarly, any liquidation below $7,500 must be with equally high trading volumes nullifying this trade plan.Chart courtesy of Trading View. Image Courtesy of Shutterstock

Ethereum (ETH) up 5.9 percentUbisoft considering building and creating a decentralized market place on EthereumIn a direct boost for Ethereum, Ubisoft is considering building on the platform. That follows Bitwage decision to support ETH. Reflecting on this development, ETH is up 5.9 percent in 24 hours.Ethereum Price AnalysisFundamentalsBuilding is a mark of progress, and Ethereum is pretty good at that. Evolving after launching five years ago, the team is resolute in their roadmap. After Homestead, Ethereum is on track, and within the next three years or so, Vitalik’s creation would be running full throttle.Once Serenity is activated, the network would be scalable, secure with staking features. Backed by widespread adoption and developers fortifying the platform, patching any vulnerability, Bitwage is confident of Ether (ETH), the native currency of Ethereum, and will offer support.Serving more than 30,000 employees, Bitwage is a PR and HR startup that helps companies pay their workers using cryptocurrencies. Through Bitwage, individuals can receive their portion of salaries in cryptocurrencies via a “faster, cheaper international invoices with direct bank and wallet deposits.”According to CEO Jonathan Chester, Bitwage aims to close a “financial loop.” Currently, they process more than $2.5 million in monthly volumes by providing two unique services in direct deposit and team wages as part of their payroll services.Meanwhile, reports have it that Ubisoft, a gaming development company, is developing game features-and possibly a decentralized marketplace, in Ethereum. As per Le Chos:“The idea is to give a digital existence on the blockchain to the “items” (accessories) available in video games; content that publishers monetize. Ubisoft is considering working on the blockchain Ethereum, which allows operating this kind of operation.”Candlestick ArrangementUp 5.9 percent in 24 hours with a market cap of $26,897 million, ETH bulls are steadfast. Although there is a tinge of weakness as prices consolidate above $230, the odds of more upsides are high.To that end, there is a window for risk-off, aggressive traders to buy the dips in smaller time frames. The trade plan will apply as long as prices are trading above $230, confirming buyers of May.Despite shrinking participation days after the correction of late May spilling over to the first week of June, rejection of lower prices on June 10th is massive. Trading volumes may be low.However, this could build the base for rallies above $290 and $300. Once that prints, ETH could rally to $400, breaking free from this momentum sapping consolidation.Technical IndicatorAnchoring this plan is May 30th candlestick. Extensive with high trading volumes, it marks the May 2019 peak of $290. Therefore, unless otherwise there is a rally above $290 (or a drop below $230) with an uptick in participation, eclipsing 410k, bears could take over.Chart courtesy of Trading View. Image Courtesy of Shutterstock

After an extended period of sideways trading, Bitcoin and the aggregated crypto markets have been able to surge today, which has allowed BTC to break above its previously strong resistance level that existed at $8,000.Although this upwards surge is certainly bullish, Bitcoin does still face some resistance around $8,200, but a break above this level could quickly lead the cryptocurrency to once again surge towards the upper-$8,700 region.Bitcoin Smashes Past $8,000 as Upwards Momentum BuildsAt the time of writing, Bitcoin is trading up nearly 5% at its current price of $8,170, up significantly from daily lows of below $7,800.Ever since earlier this month, BTC has struggled to climb back into the $8,000 region and appeared to have been forming a consolidation pattern that some analysts had expected to persist for the foreseeable future.Despite this, today’s upwards surge appears to have marked an extension of the upwards momentum that the crypto has incurred over the past couple of months, which could ultimately lead BTC to continue climbing higher.Josh Rager, a popular cryptocurrency analyst on Twitter, discussed the importance of BTC’s latest move upwards, explaining that a break above $8,200 could send it surging to the $8,700 level.“$BTC Price Action: Bitcoin just broke above previous 2-week resistance. Testing the $8200s but currently is being held down at the top of the channel. If $BTC can break this channel, it’s heading to at least $8550 with eyes on $8700 and above,” he explained.$BTC Price ActionBitcoin just broke above previous 2-week resistanceTesting the $8200s but currently is being held down at the top of the channelIf $BTC can break this channel, it’s heading to at least $8550 with eyes on $8700 and above pic.twitter.com/G8jiTTK5NU— Josh Rager 📈 (@Josh_Rager) June 12, 2019 Previously, Bitcoin has faced strong levels of selling pressure in the upper-$8,000 area, which will likely require a significant amount of buying pressure to be broken above.BTC May Be Forming a Reversal Pattern that Will Allow it to Climb HigherThe latest upwards movement may not be coming as a surprise to some analysts, as it has been pointed out that BTC was in the process of forming a diamond pattern that may have acted as a reversal sign that will allow the cryptocurrency to surge towards fresh year-to-date highs.Jonny Moe, a popular cryptocurrency analyst on Twitter, discussed this in a recent tweet, explaining that Bitcoin may climb towards $9,000 next.“Possible diamond forming on $BTC. Diamonds can be tricky as the shape can change as they form, but worth keeping an eye on. Can break either direction out of the consolidation, but typically a reversal pattern which would send us back into the upper $8,000s,” he noted.Possible diamond forming on $BTC. Diamonds can be tricky as the shape can change as they form, but worth keeping an eye on.Can break either direction out of the consolidation, but typically a reversal pattern which would send us back into the upper $8,000s. pic.twitter.com/d7lG0lwAod— Jonny Moe (@JonnyMoeTrades) June 12, 2019As the day continues on and Bitcoin reacts to its next resistance level around $8,200, it is probable that investors will gain greater insight into which direction the markets are heading next.Featured image from Shutterstock.

Cardano (ADA) was trading around $0.095 by 10:00 UTC on the crypto exchange Binance on Wednesday, up 8.52 percent since the Asian market opened, marking the asset’s most towering one-day performance since May 15.The upward price action pushed ADA’s market capitalization to $2.412 billion, or 0.95 percent of the global cryptocurrency market valuation. At its prime, ADA’s net assessment was $29.948 billion, per the data provided by CoinMarketCap.com.Cardano (ADA) Records 24% Gains in Last 4 Days | Image Credits: TradingView.comThe past 24 hours witnessed the ADA/USD instrument rising by close to 11 percent — from $0.084 to $0.093. Measure from an intraday top of $0.095, the pair surged by more than 24 percent in the last four days alone, posting daily sessions in green consecutively. In contrast, other leading cryptocurrencies such as Bitcoin and Ethereum showcased a weaker upside momentum.Shelly, Coinbase Listing Behind Latest Moves?The Cardano price rise follows a fresh wave of buying sentiment arising from optimistic market fundamentals. The Cardano team last month stated that it is working on Shelly, a core update which proposes to strengthen their blockchain’s prospects of decentralization. The new version reportedly employs a proof-of-stake consensus algorithm that governs individual nodes.Wait a second… where’d that blue line come from?!Great performance from Cardano lately.Past performance is not an indication of future results. $ADA @IOHK_Charles pic.twitter.com/Qv7wrGtsmB— Mati Greenspan (@MatiGreenspan) June 12, 2019It is not clear whether or not Shelly played an active role in prompting traders to buy ADA. But traders on social media admitted that they were exchanging hands to ADA ahead of Shell’s testnet on June 15. A Twitterati, for instance, said he converted his “XRP bag to ADA for Cardano.”“Now in a dilemma on what to do.” the Twitterati added. “Convert back to LTC or back to XRP after Shelly launch.“