Archive June 2020

Cointelligence CEO On Yavin joins Electroneum’s Board of Advisors

electroneum

Electroneum, he added, has already achieved huge adoption with 2.4 million app users who have completed over 165,000 mobile data and airtime top-ups and nearly 300,000 app-to-app instant transactions.

After performing an audit on Electroneum, I have decided that they are completely aligned with my goals, and those of Cointelligence, with regards to making cryptocurrency accessible and banking the unbanked, and enabling mass adoption of this revolutionary technology,

said Mr. Yavin.

I’ve been impressed both by this project and by their community, and I have personally verified all their statistics and numbers,” he added. “Because of this, I am proud to announce that I am joining Electroneum as both an advisor and an ambassador.

He and his research team carried out an in-depth examination into Electroneum’s stats, numbers, and development that included a visit to the award-winning crypto’s headquarters in Maidstone, Kent.

On Yavin recalls that at one point:

I questioned their huge adoption and usage statistics and assumed they must be exaggerated. However, I’ve had the opportunity to delve into their databases and directly confirm that they are among the most widely used cryptocurrencies in the world.

The Cointelligence CEO and founder visited met with many of Electroneum’s 50 staff members and conducted interviews with C-level executives, including Head of Corporate Relations Chris Norris;  Head of Operations Nick Cook, and Head of Blockchain Chris Harrison.

Mr. Yavin said he looks forward to helping Electroneum bolster its marketing, outreach, and education.

I have some ideas for exciting collaborations with other crypto communities, and lots of educational opportunities, both in terms of giving the ETN community access to more in-depth crypto and blockchain education, and in educating new people about ETN,

he said. Electroneum CEO and Founder Richard Ells welcomed On Yavin’s decision to join his team, saying he looks forward to working with him on plans and strategies to take expand the startup’s presence among the global crypto community and beyond.

Electroneum is very pleased and excited to have On Yavin join us as an advisor and ambassador,” he said. “With his unique insight into crypto and blockchain as well as his marketing expertise, On will help us further our objectives within the crypto space and in developing countries.

Who is On Yavin?

The head of Cointelligence is one of the world’s most recognized crypto scam whistleblowers.

Since 2017, Mr. Yavin is dedicated to championing cryptocurrency and the blockchain. He works tirelessly to build the crypto community; help the unbanked; fight corruption within the space, and make education accessible to people around the world.

Via the Cointelligence Academy, Mr. Yavin has provided free blockchain and crypto education to tens of thousands of people.

source: www.crypto-news-flash.com

Altcoins promise new features

high-frequency-trader

With bitcoin lateralization, some altcoins promise news and have been moving strong. Check out what CoinGetCoin analysts think.

Bonsai Trades

In the daily ETH chart, we can analyze the lines in more detail. Basically, we have a bullish channel, which if lost (around $270, we can start a broader correction for the retractions mentioned.

On the other hand, if we really break the LTB, we even have an intermediate resistance right afterward at the top, but certainly, the expectations will be very good. In that case, we can search for the top of the channel again. Depending on the moment, it even coincides with the next $ 350 resistance.

Basically, we will probably depend on the BTC to define the next movement, but the disruption can indeed provide an independent PUMP.

CoinGape

High bullish congestion at $0.19 should stop declines towards the main support at $0.1850. Technical indicators such as RSI and MACD emphasize lateral trading action. For example, the MACD is moving sideways at +0,00083. This means that buyers are relatively in control. Consolidation is confirmed by the Relative Strength Index (RSI).

At the appreciation, resistance at $0.1950 is buyers' nightmare. If breached, a breach could arise, sending Ripple over $0.20. Meanwhile, support above $0.19 is currently key to breaking through the stubborn resistance of the downtrend line. Note that the further the price falls below the stronger trend line, the lower the bearers become, a situation that could force Ripple to retest levels around $0.18.

banco argentino

Trendline 365

DECRED came close to hitting 200k satoshis, however, since then it started a bearish movement and has already corrected more than 50% of the last high. Currently, I still see the potential for a new test from the top, even exceeding 200k. Per hour the supports are 160 - 150 - 135, all based on fibo retraction.

On the other side as resistances, we can see the fibo points 173 and 182, in addition to 175 being a psychological resistance and also at the moment we have a moving average working there.

My thoughts regarding the long-term bias of the decred remain high, even with the divergences already mentioned above.

ESID

GO / BTC is trying to confirm the trend reversal on the weekly chart, going to test resistance at 0.00000122. On the daily chart, we see the 12-period moving average serving as a support for the movement, but the chart is already getting a little polluted by the loss of volume, decreasing the volatility as resistance approaches.

It still has the strength to test the resistance, but it probably still needs to form an upside bottom in the weekly to form a lighter bullish pivot, reversing the trend more strongly. Losing the last bottom on the daily chart, before the possible break of the resistance at 0.00000122, you can confirm the search for a rising bottom on the weekly.

INFINOX

Buying demand cannot sustain bitcoin above $9,600 and the price falls again. The break of the upward triangle in conjunction with the 200-period EMA may start a downward movement towards the weekly support at $8,500. Sellers can look for opportunities for new entries in the EMA 200 region, close to $9,400.

Disclaimer: The analyzes presented here are only studies. They are not investment recommendations, neither buying nor selling, nor do they reflect the opinion of the media outlet in which they are being publicized. These are studies aimed at people with knowledge and experience in the financial market.

Bitcoin could reach $50,000 with only 1% of the capital of institutions

bitcoins

A low allocation of institutional investments can catapult the price of Bitcoin. That's what Ryan Watkins, from Messari, a research firm specializing in cryptography, said.

Watkins analyzed the numbers and made his prediction. If institutions allocate just 1% of their portfolios to Bitcoin, their market value could rise to more than $1 trillion. Currently, Bitcoin's market value is $172 billion.

Watkins' research sought to calculate the impact of institutional investors on the price of BTC. To this end, Watkins followed the famous example of hedge fund manager Paul Tudor Jones, of investing a “low single-digit percentage” in Bitcoin.

99% retail - and that 1% institutional

Watkins took into account the entry of several large investors into the market. He considered foundations, family offices, sovereign wealth funds, pension funds, and mutual funds. At first, their entry would result in about $480 billion more in the Bitcoin market.

In his research, Watkins cites researcher Chris Burniske, who found that fiat currency flows for crypto led to price gains between two and 25 times during the 2017 upward trend.

"An aggregate institutional allocation of 1% to BTC can easily raise Bitcoin's market value above $1 trillion or more than $50,000 per Bitcoin," said Watkins.

Pension funds could boost Bitcoin in the future

On the one hand, Watkins believes that "Bitcoin may not need institutions to succeed". On the other hand, he says that "if the BTC becomes a non-sovereign value reserve adopted globally, it will be necessary to convince institutional investors to transfer wealth to the asset".

Watkins predicted that hedge funds will lead these investors to Bitcoin. But Ryan Radloff, CEO of the multimillion-dollar custody Kingdom Trust, takes a different view. Radloff believes that the retirement sector in the United States will be the first to embrace BTC. The reason: consumers demand the ability to allocate digital assets to their retirement portfolios.

Currently, the retirement sector has $28 trillion in assets. Kingdom Trust itself created the world's first Bitcoin retirement fund, in partnership with the startup Bitwage.

Other analysts believe that new products and regulations may bring investors to this market. This is the case with securitized tokens, which can represent real-world assets. Another possibility is the creation of ETFs, such as the long-awaited Bitcoin ETF.

Dow Jones and Bitcoin fall 5% amid fear of COVID-19

Global stock markets are falling today as fears of a second wave of coronavirus (COVID-19) become stronger. According to reports, there is an increasing trend for new cases in the US and around the world, and this has evidently affected the economy as well.

Shares fall amid fears of coronavirus reinsertion

The World Health Organization has announced that the coronavirus pandemic is worsening worldwide. The number of new cases continues to grow and has reached a new all-time record.

It seems that the reality is starting to settle, as the main indices fall a considerable amount in all aspects. Today, the S&P 500 lost 4.5% today, currently around 3,050 basis points.

The Nasdaq 100 also fell 3.3% to 9,750 points, after breaking more than 10,000 yesterday for the first time in history. The other main index, the Dow Jones Industrial Average, also fell about 5.5%.

Heat map of the S&P 500. Source: Finviz

The heat map above the companies included in the S&P 500 best describes today's bleeding. Currently, each company is falling and reductions vary between 1% and 10%.

Yesterday, the CEO of one of the world's leading trading platforms, eToro, warned that this could happen.

Commenting on the matter, Yoni Assia said that "there will be a crash soon". While there may be more suffering ahead, today was clearly a move in that specific direction.

Bitcoin and cryptocurrencies follow suit

Unfortunately, the cryptocurrency market is on its way. Bitcoin also fell just 6%, as it currently trades at just under $9,200.

This, however, could be somewhat expected. Yesterday, the BTC rose to $10,000 just after the U.S. Federal Reserve concluded its two-day meeting in June, confirming almost nil interest rates in the short and possibly medium term.

This, according to some, means that institutional involvement in Bitcoin has increased.

Therefore, it is probably not surprising that the asset has once again become largely correlated with the movement of the legacy markets and is now decreasing.

Altcoins are also suffering. All large-capital cryptocurrencies, as well as shares, are currently trading in red, marking notable reductions close to 6%.

Overview of the Cryptocurrency Market. Source: Coin360.com

Bitcoin value could reach $20,000 by 2020 despite the COVID-19 pandemic

bitcoin

Bloomberg analysts predict that Bitcoin will follow a positive upward trend this year, managing to double its value. However, Goldman Sachs experts do not show the same optimism and argue that cryptocurrency is not a viable investment.

The value of the Bitcoin cryptocurrency currently stands at $9,762, but Bloomberg analysts expect it to double further in 2020, reaching $20,000. Experts say the popular digital currency has several technical factors in its favor. However, Goldman Sachs group analysts call for caution and stress that investing in Bitcoin is not the most appropriate.

According to Bloomberg's latest analysis of the cryptocurrency market, Bitcoin has managed to reach a level of maturity motivated by the growing acceptance of digital currencies, the possibility of trading Bitcoin futures contracts, and the decline in their volatility. Experts say the cryptocurrency may even follow the positive appreciation trend that started in 2016.

Analysts suggest that, unlike most economic sectors, the COVID-19 pandemic had a positive impact on Bitcoin and cites three main reasons. The first is related to the fact that the historical decline of shares on the stock exchange, which affected goods such as oil, did not reach the cryptocurrency sector.

Second, analysts indicate that the pandemic is accelerating the shift from physical to digital currencies. Third, measures taken by central banks around the world are leading to an increase in the value of gold and Bitcoin, experts say.

However, Goldman Sachs recommends caution, warning that, in the current economic environment, cryptocurrencies are not a viable investment. Financial group analysts cite unstable correlations with other asset classes as reasons, as well as the lack of evidence to show that Bitcoin can protect financial operations against large price changes.

"whose valuation is primarily dependent on someone being willing to pay a higher price"

Experts further argue that Bitcoin and other cryptocurrencies are not a viable investment as they are bonds

“cryptobartender” created by Ukrainian serves drinks by cryptocurrencies during social distance

vbeer-bitcoin

In Ukraine, to deal with social distance, a developer created a device that serves drinks in exchange for payments in cryptocurrencies without the need for contact.

The ‘Cryptobartender’, as the invention is called, was designed by Vyacheslav Korotach and allows users to buy water, wine, whiskey or any other type of liquid, paying with EOS or EOS-based tokens.

The device was created to participate in the hackaton EOSIO Virtual: Coding for Change, and works through payment in QR Code and one of the available EOS wallets.

Due to the coronavirus pandemic, the idea came up thinking of a solution to remove interpersonal contact when buying a dose of any drink, according to a blog post by Flodner, a blockchain industry enthusiast.

crypto-wine-vendor-240x300With the economic impact caused by the disease, owners and employees of cafes, restaurants, shops, hotels and related industries “suffer losses, lose their jobs”, points out the text.

"Taking into account all social changes, with the help of the EOS blockchain and eosio software, we would like to present a solution - Cryptobartender."

The first version of the device was installed in the center of Kiev, Ukraine, to serve homemade wine against payment in its own EOS-based token, the KNYGA.

One of the objectives of the token, which had a stable exchange rate for the national currency, was to encourage the popularization of cryptocurrencies in general, and especially EOS.

For this reason, the asset was “distributed as a loyalty reward” and became very popular with visitors, says the publication.

The tool can be used by any company with the settings it prefers, such as the possibility of paying with one or more tokens, prices, percentage of distribution between producer, owner and distributor, and others.

The number of participants and how much each one receives can be changed according to the needs of each business, says the publication.

The device code was written taking into account all EOSIO updates and was implemented in Jungle testnet.

The result with the winners of the hackaton that brought together 919 participants will be released next week, while version 0.0.2 of Cryptobartender will be available throughout the month of June.