04/26/18 Bitcoin, Ethereum and NEO Hold Up Against Bears, Ripple Faces Unpleasant Surprise

Enough or not enough? That is the question. Correction may continue as Bitcoin is in no hurry to bounce back.

Yesterday’s correction did not come as a surprise to us - nor, hopefully, to our readers, nor, it seems, to most market players. Bulls and bears have been preparing for this event in advance - there was no panic or haste in their actions, and behavior of most asset prices was predictable.

Now, when the technical indicators have “cooled,” and the overbuying of coins subsided, upward movement can continue inside the global growth trend which has maintained its boundaries. This is what buyers expected - but could it be that the market has no surprises in store?

EOS and Bitcoin Cash look better than the market

As a result of today’s events, capitalization was once again thrown beyond the  $400 bln mark, which has become the Rubicon dividing global growth and market decline. With few exceptions, all positions are in negative territory, with losses of 8 percent for Bitcoin, and 9 to 12 percent for altcoins.

EOS is looking better than the market, becoming the most “hyped” asset of the month - its price fell only by 2.8 percent. Interestingly, this is echoed by Bitcoin Cash, whose crazy rally did not end in catastrophe. It seems that the patrons of the coin are seriously intent on proving to the market that Bitcoin's main rival is not an empty prospect.

BTC/USD

At the moment, Bitcoin’s minimum price since the beginning of the correction was $8,670 - that is, the decline stopped between the first and the second goal, of which we spoke yesterday. Next, we see two possibilities of development.

Given the shape of the last four-hour candle (hammer pattern), it can be assumed that the next candle will be green. In that case, we will expect growth at least to $9,050, and then, possibly, to $9,200. After that, it would be good to test the upper green channel and if it holds, to begin recovery. This scenario seems the most logical.



But who says that manipulators (who have repeatedly revealed themselves during the past two weeks) will allow events to unfold as they are expected to? For this eventuality, we have prepared a scenario with lateral trading inside the wedge either above or below the boundary of the green channel, the formation of a figure similar to “head and shoulders,” a breakthrough at point 1, testing of the 0.382 level of the Fibonacci retracement, and finally an arrival at our second target, $8,400. The next few hours will tell where the price will move and whether correction will continue.

ETH / USD

In Ethereum trading, events took a rather dramatic turn. On one hand, we have to give their due to the buyers who were able to keep the asset inside the growth channel which, given its steep incline, was not an easy task.

Judging by the above average trade volumes, investors need Ethereum alive and well.

On the other hand, despite all efforts, the price is still rather close to the boundary of the channel, and to make it worse, below the 0.236 Fibonacci level, which is an additional resistance.



With an eye on Bitcoin, which is hesitating with some indecision, we are betting on a break through the channel. Further, the most likely scenario would be a testing of the previous local minimums at the $600 mark first, and then a descent to the 0.382 value of the Fibonacci grid, which coincides with a strong mirror level of $575.

In case of stronger negativity, we allow a further decline to the next target of the bears - $535, but this is unlikely for now. If the market does provide such an opportunity, it would be a waste not to take advantage and grow long positions in Ethereum at an attractive price.

NEO / USD

Unlike Ethereum, NEO has already fallen out of all possible channels (even the exotic curved one). Before a full recovery, the asset will have to overcome the $75 mark, which is where the resistance is now. Although, this will become a problem only in case of a prolonged lateral movement by Bitcoin.



Potential areas of further decline in case of negative developments are  $69 - at the level of previous lows - and then $64, which coincides with the mirror level and the 0.5 value of Fibonacci retracement.

Near the second goal lies the boundary of the long-term descending channel, the breaking of which will be actively resisted by buyers with a likelihood approaching 100 percent. Let’s not forget about the $60 mark, important for NEO, but for now such success for the bears does not look realistic.

XRP / USD

We saved the Ripple chart for dessert. With just one glance, the eye is drawn to the red candle with a huge lower shadow reaching to $0.50. This is how the collection of stop-losses looks on the Bitfinex exchange. When a protective order for a substantial sum is triggered and there is no nearby purchase order for a similar volume of assets, the price gets dragged down, catching other stop-losses in a chain reaction. This continues until the snowball is shattered against the impassable buy wall, which in the case of Ripple was exactly at $ 0.50, and then bounces back almost to initial values.



Interestingly, this pattern is not repeated on other stock exchanges - it is more typical for Bitfinex. However, let’s leave the shortcomings of algorithms on the conscience of Bitfinex developers.

For us, this means that a big player has left Ripple and is not going to defend his position. On the other hand, despite these events, prices barely decreased, which indicates that other players are gaining interest in the asset.

The nearest resistance for Ripple is at $0.85, and it will be difficult to overcome without a general positive atmosphere. As for possible targets for further correction, they are represented by the set of $0.77 (again), then $0.73 - 0.75 (the boundary of the ascending channel) and, finally, $0.71. We believe that the latter will be reached only in the context a strong negative development in the market.

The link: https://cryptocomes.com/bitcoin-ethereum-and-neo-hold-up-against-bears-ripple-faces-unpleasant-surprise

EOS Trading for Beginners: How to Trade EOS Profitable

EOS trading, how to find best entry points, comparing EOS with Ethereum

Trading cryptocurrencies is not as easy as it may seem. However, those who have appropriate knowledge are able to invest in cryptos profitably. In this EOS Trading Guide for Beginners we are going to provide you with necessary information about the project, coin and its specifics. We are also going to compare EOS with its closest competitor – Ethereum.


One of the main advantages of this platform is that it will allow users to conduct thousands transactions per second. This level of scalability is out of range for Bitcoin and even Ethereum nowadays. The aim of the team is to create a complete operating system for decentralized applications giving the opportunity to user to benefit from high level of security, server hosting and cloud storage.

EOS trading. The main features of the project

Before an investor or trader puts his or her money into this coin, it is necessary to learn the main features of this system.


Another great feature of EOS is its scalability performance. There is no doubt that future of cryptocurrencies as payment method depends not only on security of data transfer, but also on how fast the transaction may be executed. Bitcoin and Ethereum use PoW consensus method, which is criticized by the crypto community nowadays.

EOS uses another method, which focuses on transaction instead of the state of the whole system. This allow to significantly increase the speed of message exchange within the network up to one million per second.

EOS team and coins

Before trading EOS or investing in this coin, one need to learn more information about the project’s team. The system is created by Block One company, led by Dan Larimer. This person is famous in crypto industry as he was founder of Bitshares and Steemit.

As for EOS coins they are listed on most of major trading places and have medium liquidity level as compared to other cryptos. EOS is on the fifth place in the list of market capitalization according to coinmarketcap in the moment of writing.

Comparing EOS and Ethereum

Once you have decided to trade EOS or hodl it, you need to know the closest competitor of this project. EOS is designed to create dApps and smart contracts meaning its rival is Ethereum.

Despite all the similarities that EOS have with Ethereum, those projects are not the same and this information is important for traders and investors in order to understand whether to put money in EOS or not.

Target audience

Many investors think that EOS and Ethereum are the same but they have different target audience. EOS adepts think that this platform will be more decentralized as it uses Proof of Stake consensus mechanism as compared to Ethereum, which works on Proof of Work.

EOS is supposed to be the host of different decentralized applications that would high costs if run on Ethereum platform. There is no transaction fee within the EOS network.

Technical differences

EOS team aims at overcome scalability, functionality and usability issues that Ethereum has currently. To do this, developers have implemented delegated Proof of Stake protocol, which helps to eliminate the bottleneck that Ethereum network has currently. Another reason to use it is the ability to freeze the network and to fix broken applications without affecting other accounts.


Additionally, EOS team expects the system to process 1,000 operations per second and to increase this number in future up to 100,000 transactions. However, Ethereum developers also work on scalability as they seek to introduce Casper technology, an update that will help the network to be more scalable.

As you may see, there are several differences between EOS and Ethereum and it is not clear whether the first is able to “beat” the second.

Find more on topic https://cryptocomes.com/eos-trading-for-beginners-how-to-trade-eos-profitable

Past ICO Review: EOS, an ICO Success Story

An ICO that has succeeded despite banned distribution in America is gearing up

Out of the many ICOs that fail, EOS is not one of them. The ICO is 345 days long and raised some $700 mln during the first phase of the ICO. The most recent reports indicate that the ICO raised 5,148,884.15 ETH, that is more than $2.833 bln, or 5.2% of all ETH currently available. That makes EOS the largest fund-rasing ICO to date! EOS token opened up at $1.03 and at time of writing is now worth $11.29 a gain of 996 percent.

If you invested $10,000 at the opening price, you would now have almost $110,000! Not bad for about a year’s wait.

What Drives EOS’ Success?

EOS has been successful due to a number of factors.

• It is an ERC20 compatible token, which is distributed on the Ethereum Blockchain pursuant to a related ERC20 smart contract. Ethereum’s smart contracts offer a lot of versatility for cryptos built on that platform, which lead to better business-related uses.
• EOS incorporates a delegated proof-of-stake (DPoS) consensus protocol. This protocol is similar to a republic whereby members of the community delegate the responsibility of verifying transactions to elected witnesses. In other words, this is a crypto that is not mined but rather is based on producers, who create something.
  
• EOS can process millions of transactions per second through horizontal scaling. This is a major achievement over Bitcoin and Ethereum Additionally, this will make it possible to create Dapps that are indistinguishable from their centralized counterparts.

EOS Team, Rockstars of the Cryptoverse

Not only do the above capabilities help EOS to rise to the top, but there is also an amazing team of Blockchain and crypto professionals behind the company.

1. Brendan Blumer- CEO: Brendan Blumer is the Founder and CEO of block.one, the publisher of EOS.

2. Daniel Larmier- CTO: Launched Bitshares and Steem

3. Ian Grigg- Partner and financial cryptographer

4. Brock Pierce- Partner: Former child actor, he created the first ICO token, Mastercoin, aka Omni.

This C-Suite has been able to fund and drive EOS on the proper path and lead it to success. However, there have been some issues in distributing the ICO and token.

US Citizens are not allowed to buy ICO tokens

No ICO is perfect, in fact, there is a big problem for EOS in the United States. US Citizens and US. Entities are not allowed to buy EOS coins because the US is in the midst of trying to regulate ICOs, and for good reason, because many of them are scams.

Block.one does not believe that the distribution of EOS Tokens or the EOS Tokens themselves are securities, commodities, swaps on either securities or commodities or similar financial instruments.

The EOS Tokens are not designed for investment or speculative purposes and should not be considered as a type of investment. Nevertheless, US citizens, residents and entities should not purchase or attempt to purchase EOS Tokens due to the rules laid down by the SEC.

Author’s note: Being US-based, I went over to the EOS website and low and behold, it is true I am not allowed to click the link to purchase EOS tokens. However, you can easily get around this with a VPN.

The link: https://cryptocomes.com/past-ico-review-eos-an-ico-success-story

04/24/18 Bitcoin, Litecoin and NEO Promptly Reach Bullish Targets; Ethereum Overachieves

Bulls run into their targets like they are red flags - Bitcoin and altcoins are rising

By the beginning of Tuesday, the upward bullish trend has found a long-awaited development, and the goals we had indicated for a number of assets last week have finally come true. According to the rules of the game, now the market needs to cool down before continuing the movement, but the bulls seem to be on a roll and may take some time to slow their pace.

Market cap sees $25 bln cap spike with bulls’ success

Capitalization of the market has crossed over the round quadricentennial mark in the past 24 hours and is now at $425 bln. Bitcoin dominance, which stayed at 38 percent most of the previous day, has given way by 0.5 point, to 37.5 percent. Bitcoin Cash continues to attract the flow of capital and the attention of investors, growing by another 20 percent after a slight fallback.

Another Bitcoin fork emerges

Bitcoin Cash is joined by another hard fork of the main asset, Bitcoin Gold, which showed an impressive growth of 30 percent over 24 hours. Dash concluded Monday with a more modest, but still respectable result - an increase of 15 percent. The coin is in 12th place among assets by capitalization, and Monero is right next to it, in 13th. This proximity will make it interesting to see which of the privacy coins will win the love and the money of investors. The rest of the top altcoins show moderate results of 4 to 7 percent.

BTC / USD

Yesterday's Bitcoin activity could exhaust any trader - several times, the asset approached the realization of a “bearish wedge” pattern. It was barely kept from going under to the dangerous support level of $8,800, where buyers could lose their nerve, turning into sellers. However, by the end of the day, with double the average volume, the bulls were able to push Bitcoin one level higher into the price range of  $9,100 - $9,300.



The next target for bulls is represented by the level of $9,500, and given that someone big and powerful is obviously keeping Bitcoin from falling, we are not ruling out the possibility that this target will be reached within a day or two.

On the other hand, the price has pushed up against the boundary of another ascending channel, which is giving additional resistance. Therefore, we believe that today and possibly tomorrow, the asset will be trading inside the ABC triangle, after which we will either see the bulls’ goals achieved, or a correction toward the range of $8,600 - $8,400. We recommend that our readers actively protect their profits with the help of stop-loss orders.

ETH / USD

Last week, Ethereum not only did not lag behind the market, but often outperformed it, so the overall growing trend allowed it to achieve the goal of $615 without much difficulty, where an attempt was made to bring the price down. But the buyers did not leave the asset to be torn apart by the bears, and followed up by reaching the mark of $670.



Ethereum practically pushed up against the boundary of the ascending channel, which is already steep enough to just break upward through it. Therefore, we expect lateral trading with a possible fallback to $630.

The next goal for short-term investors is suggested by the value of fair price since the beginning of December and the 0.618 Fibonacci expansion - it's $ 690 - $700.

After reaching the mark, we can see a trend change, not necessarily to a downtrend, but perhaps to a more gently sloped one. The medium-term goal of $800 already looms on the horizon, but it is too early to predict how it will be reached.

LTC / USD

Though slower than its closest neighbors in the top 10, Litecoin is still growing steadily, reaching $160 yesterday. Its channel is more gently sloped and wider than Ethereum’s, so it has a larger margin for lateral trading - which is what we are expecting today.



After that, another spurt to $170 is likely, where Litecoin will meet a very strong resistance. The situation is aggravated by the passage through the target price of the inclined mirror level of support-resistance, indicated by the green line. So, after reaching this mark, we expect the price to fall back at least back to $160, at most to $150 with the subsequent formation of a new movement logic.

NEO/USD

Two ascending NEO channels with different slopes have formed a single channel, limited not by straight lines, but rather by curved ones - this channel has determined the asset’s movement for almost 20 days. The maximum price was recorded at $79.3, so we’ll consider our target of $80 to be reached.



Further developments can be very rapid.

The volume profile tells us that above $80 and up to $100, the volume of sales and purchase transaction was not significant, which means that buyer and seller interest is not concentrated in that range.

In any case, we determine $100 to be the next target for bulls. To achieve this, NEO will probably have to gather strength in the range of $70 - $80, and the price minimum in case of correction will be at $66.

The link: https://cryptocomes.com/bitcoin-litecoin-and-neo-promptly-reach-bullish-targets-ethereum-overachieves

Past ICO Review: How $1 Worth Company Manages $50 Mln ICO

Even if this project is a Titanic, their comms team is not playing waltzers on the deck good enough

What if I told you there is an ICO with tokens whose utility was to facilitate online eSports tournaments and wagers?  A further discount in a discount crypto-based games store? In an unofficial Android-only store? What if the proceeds of their token sale were officially meant to support an ecosystem where the token publicly offered, wasn’t the center, but rather being “a close cousin” of the principal currency of the project? With a team that already have been involved in several other projects, and constantly adding new things?

Doesn’t sound like a treat for you? For me neither. How much do you think this ICO would score? Zero? Hundred Thousand? Million? Ten Million? Billion?

MobileGo, “The first crypto-centric Mobile Gaming Platform and store for in-game purchases,” scored more than 50 mln bucks at the time.

Let’s fast forward MobileGO year since the end of their ICO.

Share capital $1

According to the Corporate Registry of the Republic of Serbia, Gamecredits, d.o.o. (Serbian for LLC, limited liability company) has a share capital of 100 Serbian Dinars (about $1.04- that’s right, exactly one dollar and four cents). The company has been registered on June 06, 2017, a week or so after MobileGo ICO closing date.

Its founders are two Russian citizens: Mr. Sergey Sholom, presented as a CEO of Gamecredits (he isn’t officially), and Mr. Alexei Migitko. Actual managing director of Gamecredits d.o.o, as Serbian authorities are concerned, is Mr. Migitko.

According to the Serbian corporate law, unless there’s proven misconduct and misappropriation of company’s assets by its founders, they are not responsible for its debts. Coins and tokens aren’t even obligations.

Product

None so far. As far as the original whitepaper is concerned, the company is several months late to deliver. MobileGo’s community manager Jack Kuveke, when asked to comment on the issue, said:

“Our roadmap changed due to new partnerships. So we began working on a new store version to be released this spring which will have an integrated Unity distribution system to allow unity games to publish to our store easily. This spring to summer [2018 - Cryptocomes] is when first mgo features and our store will see releases.”

Mr. Kuveke refers to the deal Gamecredits stroke with Unity, the gaming platform, signed in November 2017. An important achievement for the company indeed. Yet, the roadmap hasn´t been updated since. “We will have a new timeline/roadmap released in the fast-approaching future,” said Mr. Kuveke to CryptoComes on April 19, 2018.

Questionable assumptions

MobileGo means to differentiate itself from the competition (at least two other cryptocurrency projects have issued Unity support after Gamecredits/MobileGo did) by offering a possibility to publish Unity games in their own crypto-centered store. MobileGo store is thought to attract developers offering lower commissions and quicker payouts than Google’s or Apple’s. Unity didn’t announce partnerships with other projects as it did with Gamecredits though.

So, MobileGo´s strategy is, apparently, to have gamers install an alternative app store, available, obviously, for Android only.  At least 50 percent of the funds are expected to be spent on marketing (i.e. acquisition of the user base).

The white paper says that in China there are more than 200 successful alternative app stores; that makes its authors think that there is a potential for alternative app stores in Europe, and North America, where currently 98% of play stores are monopolized by Apple and Google.

Well, the reason that alternative markets flourish in China is simple: Google PlayStore is banned, and the most successful alternatives are owned by Tencent, Baidu, China Telecom and other giants of the Middle Kingdom.

MobileGo’s white paper has made a questionable assumption. Specifically, they implied that it is as easy to acquire a user for a game as it is for an app store. It seems that they’ve omitted an entire stage of the sales funnel- their user acquisition costs would be higher than projected. And remember, even Amazon, with all its power, is barely visible compared to PlayMarket.

Present imperfect

Attempts of a cargo cult Elon Musk knock-off media appearances aren’t exactly playing out for MobileGo CEO. Mr. Sholom travels quite a lot, participates in forums organized in UN and UNESCO offices, mingles with Serbian Royal family (Serbia is a republic, and the descendants of the royalty are purely ceremonial figures) and delivers pretty much the same speech since the end of the ICO.

MobileGo´s community team stopped showing up in Bitcointalk thread of MobileGo where some participants have grown increasingly critical of the project tardiness and lack of communications. “We are restructuring our communications channels,” said MGO’s spokesperson when asked for the motive of the decision.

The main website of GameCredits has a prominently displayed link to a Chinese exchange that stopped operations late 2017. The team either don’t care or don’t know. A final touch is the motto that GameCredits’ PR person brandish on the official website:

“The less you ask, the happier I will be.”

Credit is due to GameCredits though, they were fully collaborative when I contacted them to check out a couple of details when preparing this article.

Anyway, despite all their desire to look otherwise, the overall impression of MobileGo is that the project is messy, riddled with imperfections and non-professional. The communication team seems to be seriously out of their league; during the first stealth phase, the communication is arguably the most important task and the comms team didn’t exactly match the challenge of doing that as one may expect from a company that worth 50M dollars.

Let me put this straight: even if this project is a Titanic (and especially if this is a Titanic), their comms team is not playing waltzers on the deck good enough. And only God knows what is happening in its engine rooms. 

The link: https://cryptocomes.com/past-ico-review-how-1-worth-company-manages-50-mln-ico

Bitcoin Trading For Beginners: Trade Bitcoin Like a Profi

Bitcoin trading, how to find best opportunities, factors, affecting Bitcoin’s price

Bitcoin is the first cryptocurrency ever, which attracts many traders and investors nowadays. This coin appeared in 2009 and was a kind of a miracle for that period. However, traders and investors paid almost no attention to it.

Nowadays, Bitcoin trading is very popular due to the opportunities that it gives to investors. The price for a coin has reached almost $20,000 by the end of 2017 as a huge number of investors have bought this cryptocurrency. Later, the price declined below $10,000. However, the interest for Bitcoin is high in the moment of writing and this tendency is likely to grow in future.

With this huge uptrend, many beginner traders and investors want to buy the first cryptocurrency, but they make many mistakes that result in losses. We are going to describe Bitcoin trading for beginners in this article.

What are the main factors that influence Bitcoin price

In order to buy BTC, you need first to learn the main factors that may affect its price. However, before you do this, you have to understand that cryptocurrencies have some specifics that distinguish them from traditional fiat money.


As for cryptocurrencies, there is no a single body nor issuing them neither controlling their volume. The good news here is that you need no traditional analysis tools to predict Bitcoin’s price. There is no central bank’s meeting to follow or economic data to monitor. The bad news is that you need to pay attention to demand and supply in order to forecast Bitcoin’s price which is not sometimes an easy task to complete.

As for the supply, it is limited by the nature of this system. The total volume of Bitcoins is 21 mln units. It is to mention also that new coins appear by means of a so-called mining (when miners solve several math problems in order to validate transactions and support systems integrity and safety).

This is a clear advantage of Bitcoin as its price is likely to grow in future due to the fact that the supply is limited. Once the total volume will be reached, there will be no further emission of coins.

The demand for Bitcoins depends on several factors including the possibility of using coins to conduct transactions between individuals and legal entities and cryptocurrency’s investment attractiveness.

Key factors that affect Bitcoin’s demand

Let’s have a closer look at what can influence cryptocurrency’s demand. The first aspect is its effectiveness as a mean of payment. In other words, you need to understand what are the advantages of Bitcoin as compared to traditional currencies.


Traders and investors need to know that Bitcoins transactions may cost above $5-10. However, even if you pay this amount to miners, there is no guarantee, that your transaction will be executed in the nearest future as other users may offer even higher rates.

Transactions’ privacy

This is one of the most significant Bitcoin’s advantages. There is no financial monitoring of such transfers meaning nobody except you and sender/recipient know all the details of a transaction. The good news here is that you can use it for different purposes including commercial operations. The bad news is that this privacy prevents Bitcoin from being widely officially accepted by governments.

There are countries that allow their citizens to use cryptos, but their number is limited. In addition, there is no general idea how to regulate Bitcoin and altcoins as means of payment and how to describe them. This prevents coins from being easily integrated into an  international financial system.

The number of legal entities ready to accept Bitcoin

In 2009, Bitcoin was a kind of a game as there was no a single shop ready to accept Bitcoin as a mean of payment. However, things have changed and nowadays, some companies offer an opportunity for buyers to use Bitcoin and even several altcoin to pay for goods and services.


Why this aspect is negative for adoption of cryptos as payment mean? Let’s suppose one online shop has sold some goods for one BTC (the price of Bitcoin was $9,000). In the next couple of days, BTC’s quotes went downwards and reached $7,000 level meaning this online business has lost around $2,000. In order to prevent those losses, businesses have to stay in direct contact with exchanges in order to convert Bitcoins into fiat money.

Find more on topic https://cryptocomes.com/bitcoin-trading-for-beginners-trade-bitcoin-like-a-profi

04/20/18 Ethereum, Ripple and Litecoin Reach Growth Targets, While Bitcoin Hesitates

Bitcoin consolidates around $8,000, giving investors some time to enjoy altcoin growth

The market is growing, Bitcoin is not. This short phrase is enough for an exhaustive description of the current situation. If you just look at the price of the main asset, growth is not apparent: most investors expected a reprise of the winter scenario when Bitcoin set the direction of the movement initially and altcoins entered the game a month later. Now we see the opposite situation and, most likely, the profits earned on the growth of other assets will eventually become fuel for the heavyweight Bitcoin.

Internal resources for growth can’t last forever

Meanwhile, the primary cryptocurrency is losing ground: while the market capitalization grew by another $20 bln in 24 hours (up to $360 bln),

BTC dominance fell to 38.5 percent. One and a half percent is a record daily decline in this indicator since the beginning of the year. This leads us to believe that growth is supported in large part by money which is already in the market, rather than an inflow of "fresh blood."

When the last signs of FUD (which are already fading out) finally give way to a positive informational background, we will see another rally, funded by the resources of new investors.

BTC/USD

Bitcoin has not yet earned back the love of investors, the best confirmation of which in the cryptocurrency market are, of course, volumes- they remain at an average level. Therefore, the buyers only managed to fulfill the minimum goal set for yesterday, keeping the price above $8,200. At $8,380 there is a mirror resistance level, which exerts more pressure on the asset than we expected. After overcoming this level and breaking the “double top” pattern, the bulls can test their strength in reaching the next target range of $8,600-$8,700.



Keeping in mind the presence of a manipulator in the market, the price movements described above could be called “small potatoes,” although out of respect to the oldest asset, the official term is “organic growth.” At any moment, we could see a long green candle (like the one that turned the market around on April 12), or a red one with a length of $500-$700.

During the weekend, the prospective target for buyers is the interval of $9,200-$9,300, coinciding with a strong mirror resistance level. However, it is quite likely that some investors will decide to book profits at the psychological mark of $9,000. In case of negative developments, Bitcoin can fall back to the nearest resistance at $7,800-8,000. We also continue to keep in mind the level of $7,500, but the likelihood of reaching it has diminished since yesterday even more.

ETH/USD

As we expected, the prolonged lateral trading in the range $490-$530 ended with Ethereum’s growth to the first of its short-term goals - $580. The error was less than one percent, as the previous day's high was in fact $588, followed by the expected fallback.



With the bullish sentiment still prevalent on the market, the depth of the fallback should not be too great- according to our estimates, buyers will find support at the 0.382 value of the Fibonacci grid, at $555, and the minimum price in the near future should not fall below $530.

Even in that case, the аscending channel will not be broken. The next target for the bulls has not changed- it's $615, and under favorable circumstances, it can be reached within the next few days.

XRP/USD

We invite our readers (especially those, who follow our recommendations) to celebrate- another goal has been executed with perfect accuracy. By the end of the week, Ripple has reached $0.75 and $0.86 and now deserves a break for the weekend. For continued growth, the asset will probably need to stay at lower levels for a bit.



It is possible that after breaking the ascending channel, the price will form a bullish pennant when it is retested. This will allow for the continuation of upward movement, with the goal clearly visible now at $0.95. However, the asset is already looking overbought, so the correction to the range of $0.79-$0.77 is more likely.

Growing volumes confirm that Ripple is not forgotten, and investors can expect to see good profits in the medium term.

LTC/USD

We conclude our review with the chart of Litecoin, which did not fail us and has gracefully moved through the ascending channel to the $150 mark. In accordance with market law, the asset must now cool down a bit, and it will be doing so around $142.



Given certain fundamental problems, in the context of a Bitcoin correction, its younger brother is risking a test of lower levels and the boundary of the ascending channel. In price terms, this is $137. And if the market continues to grow, then the next stop, theoretically, can be at $160.

Let's not forget that Litecoin is a dependent asset and does not possess the self-sufficiency of Ripple, for example. So, if our readers really want to trade it, they must carefully monitor the situation in the market as a whole.

The link: https://cryptocomes.com/ethereum-ripple-and-litecoin-reach-growth-targets-while-bitcoin-hesitates

Past ICO Review: What Remains From Bancor’s Initial Boom



Bancor offered greater liquidity to the cryptocurrency market, but did it live up to its promises?

The name Bancor is reminiscent of a large corporate bank, an institution that you could trust putting your savings into. But not everything is in a name. Big banks can go bust, too. Remember that diversification is key.

Big Bang

Bancor entered the market with a boom in July 2017 by raising $153 mln in only a matter of hours. Investors loved what they saw, a new ICO and a new kind of coin called smart tokens.

Eyal Hertzog, co-founder and product architect of  @Bancor, explained its approach to helping online economies scale horizontally:

“Since online economies use their own unique currencies, economic growth means that participating businesses will see the value of their tokens grow, enabling them to scale their operations as well.”

According to the Bancor website, the benefits of the so-called smart tokens are as follows: the Bancor Protocol is a technical revolution allowing tokens to be converted without matching two parties with opposite wants. The magic is in the math, with a simple formula balancing buys and sells so that every token in the network maintains a formulaic relationship to others. The result is continuous liquidity regardless of trade volume or exchange listings.

A “Smart” Token knows when to leave

Bancor protocol enables anyone to create a new type of digital coin called Smart Token, which can hold and trade other tokens. This allows the Smart Token contract to serve as its own market maker, automatically providing so-called price discovery and liquidity to other coins.

So effectively, Bancor has created an exchange that will automatically price and trade any cryptocurrency that the user wants to list with it, as well as tokens. The company says it will always have enough liquidity to make the market because the currencies have to build a reserve in Bancor tokens. Remember, new tokens are tied to Bancor.


Shower your neighbors with tokens

While it seems useful in some regard, the logic is still a bit fuzzy and lost when you get down to the matter. There is a reason why 50 percent of ICOs fail.

The website claims that you can issue token for your neighborhood. This would allow us to go back to medieval days where every town had its own currency, and that would not be too useful, considering how far we have come since that time. The exchanges would be kings with all the commissions and fees they would make from all the conversions to transact.

Sinking ships suck down survivors

According to Professor Emin Gun Sirer, Professor of Computer Science at Cornell University, Bancor will continue to trail the market and its lack of price discovery will diminish any smart tokens created from it.

This, in essence, will keep those coins from growing beyond that of Bancor’s price, remember they are tied together. In other words, the tokens created off Bancor have no chance to thrive. When the parent coin is going down, Bancor will take them down, too. Tim Draper, billionaire venture capitalist, and backer of Bancor argues otherwise that it will give liquidity to the market. If you bought Bancor, then liquidity is great, because you will want to sell it as fast as you can.

Boom to bust

When Bancor token debuted on July 17, 2017, it entered the market at $4.49 per token. By November 2017, it has crashed down to $2 per token losing 50 percent of its value in four to five months.

On January 17, 2018, the token price spiked up to an all-time high of $10.27 per token, only to suffer a major crash, as the whole crypto market fell to the bears later in the month and the entirety of February. As of writing, the token as sunk to lows in hovering around high $2, low $3 range, still below that of its initial-entry-market price of $4.49.

Source: https://cryptocomes.com/past-ico-review-what-remains-from-bancors-initial-boom

Nice to hear it! we try to analyse the performing of the leading cryptocurrencies now but also will add some new coins to our daily analysis

04/19/18 Volume Surges for Monero and NEO, Bitcoin and Ethereum Gathering Strength

Rise and shine, cryptomarket! Altcoins fortify the growth trend, while Bitcoin trails behind.

The week has gotten over the hump, and the price of Bitcoin has gotten over the critical level of resistance, once again giving the market some for a continued uptrend. But hopes and illusions are dangerous allies, especially when dealing with a market where manipulation is flourishing, and big players keep trying to drive the guppies into a net. We don’t want to intimidate readers, and there is no questioning the trend. All we want to emphasize - always evaluate events critically and do not succumb to suggestion.

Capitalization rises as Bitcoin makes room for altcoins

Unlike Bitcoin, which is keeping afloat but not showing any outstanding results yet, altcoins have become the principal drivers of market growth.

Over 24 hours, capitalization has increased by almost $25 bln to $348 bln, which is the best growth indicator since last week, when a mysterious buyer helped the market out of the crisis. Bitcoin dominance is rapidly declining and has reached 40 percent.

Stellar and Bitcoin Cash outperform growing market

As many as 4 assets from the top ten are showing double-digit growth numbers. Stellar is leading with an increase of 20 percent, boosted by the news of a partnership with an international payment software provider Novatti group. It is followed by Bitcoin Cash (plus 16 percent), which has gotten some attention from CNBC. The third place on the pedestal is shared by Ripple and NEO - both grew by 11 percent in 24 hours.

BTC/USD

Despite repeated breaks through $8,000, buyers still managed to keep the main asset from falling, which reduced the likelihood of correction here and now.

We are also noting an increase in trade volumes. They may be quite modest for now, but judging by the shape of the candles, these are real trades that confirm the interest of a large number of participants, rather than solo performances of a few major players.



The minimum goal for buyers is to hold the mirror level of $8,200, where Bitcoin is trading at press time. This is followed by the previous local high of  $8,450, which coincides with the 0.382 value of the Fibonacci extension. If this level can be approached, overcoming it should pose no difficulty. And finally, the maximum goal - the testing, and possibly a break through the boundary of the ascending channel, coinciding with another level of lateral trading - $8,700.

Never forgetting about caution, we continue to consider the scenario of a local correction in case of another price fall below $8000. The decline targets indicated in yesterday’s review remain relevant. Any more-or-less significant correction of Bitcoin can put the market’s altcoin festivities in question. But investors don’t seem to be planning to draw back, so today the scenario of decline is less probable than the scenario of growth.


ETH/USD

Compared to other altcoins, Ethereum is looking pale for the last two days, but the devil is in the details and, despite first impressions, investors have not been wasting time. First of all, without any unnecessary fuss, the range $490 - $530 has been traded, now becoming a a launching pad for further price movement. Second, the ascending channel received another confirmation.



The price is attempting to leave the completed figure, the dimensions of which are pointing to the perspective target of $615. The path to Olympus is a long one, and the bulls will encounter a number of obstacles, which are also intermediate targets - $550, formed by the 0.382 value of the Fibonacci expansion and $580, confirmed by the closest significant mirror level. A fallback from the current positions by breaking downward through the ascending channel is possible but unlikely. In that case, buyers will find support in the range of $480 - $490.

XMR/USD

Yesterday's forecast for Monero was exactly on point, and the bulls’ target of $220 was executed with high accuracy. However, even we underestimated the amount of capital that flowed into the asset after leaving the long-term descending channel. Thanks to the strong support of investors, on Wednesday the price went up to $230, where it remains now.



On the way, Monero broke through the ascending channel, and now, to build its extension, it will take a bit more time and data.

The asset continues to look better than the market, the perspective goal is at $260, where the bulls will certainly meet with a rebuff.

It is quite likely that before continuing the climb, investors will be obliged to take a little break - the range $220 - $ 230 is perfectly suitable for this purpose.

NEO/USD

Unlike Monero, NEO is behaving very predictably, so we can be brief. The gently inclined ascending channel which we outlined yesterday remains relevant - the price is testing its upper boundary, but there are not enough resources to break through yet.



However, growing volumes confirm the interest of investors, so growth is very likely to continue. The nearest target - $80 - is confirmed by a strong mirror level.

If the bulls need more space for a running start, a slight fallback to the region of $68- $70 is possible - but it does not pose any threat to the current positive situation.

The link: https://cryptocomes.com/volume-surges-for-monero-and-neo-bitcoin-and-ethereum-gathering-strength

04/18/18 Monero and Ripple Ready to Surprise Investors, While All Eyes are on Bitcoin

Monero and Ripple are getting ready to please investors, but Bitcoin could ruin those plans.

The psychology of the market is a curious thing. A week ago, Bitcoin at $7,900 seemed like a heaven-sent miracle, and today this price for the main asset is making players if not panicked, then certainly discontented and irritated. It’s understandable: when you are expecting a sharp rebound, and instead get a prolonged flat, plans for quick enrichment must be adjusted. But the market is a living organism where something is always happening. It’s full of opportunity for those who are prepared to seek and wait.

Capital redistributed within the market

Capitalization of all cryptocurrencies is $325 billion, completely unchanged since yesterday. Bitcoin dominance, however, has fallen to 41.3 percent, which indicates an active redistribution of capital within the market.

For the first time in a long while, we are seeing a lack of unity in the top 10: half of the assets are red, half are green.

Bitcoin and Cardano are showing the worst results - their prices have decreased by about 2 percent. Stellar and Litecoin are in the lead today, with an increase of 10 percent and 3.5 percent respectively.

BTC / USD

The yellow line of resistance, which we applied to the markup yesterday, has confirmed its significance: after several unsuccessful attempts to break it, Bitcoin price went to test the nearest level of the Fibonacci retracement. The $7,800 mark is holding for now, but the lack of good purchase volumes and the formation of a bearish flag are hinting at a possible capitulation.



The formed “head and shoulders” figure, whose neck line has already been broken, also fits into the scenario of further decline for Bitcoin price. The dimensions of the figure indicate the target of $7,500, which coincides with a strong mirror level from April 3 and is located in the middle of the $7,400 - $7,600 range that we mentioned previously.

The activation of this figure is only one of the possible scenarios, and finding a foothold above $8,000 during the day will call into doubt a deeper correction - but for now, it seems like a logical development.

LTC/USD

In the past two days, Litecoin has been feeling more confident than the rest of the market. The reason for this - being listed on the Korean stock exchange Korbit. Thanks to this news, the asset is seeing trade volumes that inevitably lead to a change in price. Indeed, it increased by 11 percent, but disappointment with Bitcoin's lack of growth seeped into the Litecoin investor camp as well - the result, a correction to the 0.382 value of the Fibonacci grid.



On the chart, we see a formed ascending channel, similar to the channels of other assets. At the time of writing, its lower boundary is at $130 - we will take this value as the minimum that is acceptable for a safe continuation of growth. Bitcoin’s approach to $7,500 may well force Litecoin price lower, but then the channel will be broken and it will be necessary to start all over again.

We suspect that the surge in volumes and the sharp increase in the price of Litecoin will not last long, and everything will return to normal after the excitement of the asset’s exchange listing passes.

The perspective target is still $150, coinciding with the 0.618 Fibonacci expansion, but first there needs to be some trading in the range of $135 - $143.

XMR/USD

What the Litecoin investors still have to do, Monero fans are doing right now: the first thing that catches the eye on the chart is the lateral trade in the range of $190 - $205. Because of it, the price has formed a beautiful bullish flag, which is practically resting against the boundary of a long-term descending channel. Of all the possible scenarios of preparing for the break through a strong resistance, this is the most effective one.



Given the bulls’ success, $220 will become the target with a triple confirmation (dimensions of the figure, the mirror level, the Fibonacci grid).

Confident readers can try to trade from the break in the boundary of the channel, with a stop-loss order in case of a false break. As for the correction scenarios, the level of $190 is stll looking like a reliable support for buyers.

XRP/USD

Ripple is showing us another bullish figure. It’s an isosceles pendant, and the target of its full activation - $0.88. The maximum activation time for this formation is by the middle of the day  on April 20, but we believe that the break will happen sooner. If only half of the figure’s height is realized, which happens quite often, a more modest target is $0.75.



Unfortunately for holders of long positions, the price can pierce the figure downwards  - a lot depends on the state of Bitcoin during the decisive moment for Ripple. In this case, a fall back to $0.60 is possible, so short-term investors should consider stop-loss orders on the lower facet of the triangle.

The link: https://cryptocomes.com/monero-and-ripple-ready-to-surprise-investors-while-all-eyes-are-on-bitcoin

Past ICO Review: Tezos, Crypto King for a Day



What happened with Tezos, one of the largest ICOs to date, which lost control of most of its funds due to infighting

The unlaunched token entered into CoinMarketCap on Oct. 2, 2017 at $1.66 per token and despite the failings of the rest of the organization, which is facing numerous lawsuits and serious infighting, the token is trading at, as of writing, $3.05, an 84 percent jump in value since its debut.

However, the token has still not been officially launched or made available to the public for purchase, so no one actually owns these unreleased tokens. It’s too bad that this infighting has kept investors from their money and earned gains.


Crypto King for a day

Tezos erupted onto the market with its astounding $232 mln ICO, but quickly lost control of most of its funds due to infighting and now trying to stave off pending legal cases. The biggest issue is the fact that the company is a Swiss-American cheese sandwich that is entangled in Swiss law.

According to Swiss law, the foundation is to be independent of the company and it holds the purse straps in this operation, leaving the other partners out in the cold. Arthur and Kathleen Breitman, the ones in the cold, are the holders of the Tezos source code via a Delaware-based company, Dynamic Ledger Solutions.

To gain back control of all the ICO-raised capital, the Breitmans have been trying to oust the head of the foundation, Johann Gevers. Of course, he was not having it and was fighting back, accusing the pair of character assassination.

Fighting for control

Since the start of February 2018, Gevers has restructured the board and added a new member in an effort to continue to fight. However, later in the month, it was announced that the entire foundation board, Gevers and two others, have voluntarily resigned.

This resignation has opened the way for Tezos’ community members to step in and take over. Under the assumption that the token could officially be released to the public and that the investors get back their contributions- remember that 85 percent gain!

According to the press release on February 22, 2018:

“The foundation is preparing itself to assist in the timely launch of the Tezos network.”

Radio silence on release

After all the shake-ups in February and promise by Breitman to “go rogue and release the token in the new few weeks,” Tezos tokens remain behind a thick wall of glass, tantalizing those who invested, only to see their investment grow but be unable to pluck it like a ripe green plum.

While there were many promises made to deliver, investors are growing tired of hearing excuses after a nine-month wait since the ICO closed. Usually, investors get their tokens within a month or two after the close of the ICO investment period.

Furthermore, there have been allegations made that technical progress has not been made, due to the fact that there are no funds to pay developers which have abandoned ship.


Silver lining: hope and appreciation

Despite the deluge of bad news, that would usually decimate a company’s stock price, Tezos token has appreciated, causing some to believe that it will actually be worth something in the end.

However, given the lawsuits and empty promises that Tezos was to go rouge and release the token, nothing has happened in six weeks from this promise. Leading many to believe, this token, like the many others before it and after it are destined for the ICO dustbin. 

The link: https://cryptocomes.com/past-ico-review-tezos-crypto-king-for-a-day

How to Trade Cryptocurrencies

Eight steps to start cryptocurrency trading and how to avoid common mistakes

Almost everyone has heard about Bitcoin, altcoins and the opportunities that they offer not only to those, who own them but also to those, who speculate or invest in cryptocurrencies. The number of traders is growing every day and the beginners want to know how to trade cryptocurrencies and to earn money in this industry. We have decided to create a guide for crypto traders with a step-by-step explanation of how to begin and what to do.

Step 1. Find an exchange

The first thing every trader has to do before starting his or her career is to choose a place where to place orders (to buy and to sell cryptocurrencies). There are several exchanges nowadays offering services to different types of investors.

How to find a good one? We are going to write a separate guide, but here we give you some key points. What aspects are important to pay attention to before creating an account? They are the following:

1. Reputation of an exchange. When you find one, look for more information about its activities and reputation. Read traders’ testimonials. However, do not forget, that those testimonials may be bought by exchange or its competitors.

2. Security level. Early exchanges like MT.GOX and the others had very poor security levels allowing hackers to breach their systems and to stole traders’ money. Nowadays many websites use hot and cold wallets, multisig and other serious methods to ensure the safety of investors’ funds.

3. Trading conditions. This is an important factor as exchanges offer different commission plans for depositing and withdrawals, as well as for inner trading transactions. Some websites have no inner commissions at all (like Cobinhood, for example).

4. Depositing and withdrawal methods. There are two main types of exchanges. First offers Bitcoin, Ethereum and several popular coins along with fiat money. You can use banking cards and some electronic payment methods to deposit and withdraw from there. Second offers hundreds of altcoins, but as for depositing and withdrawal, you can use cryptocurrencies only.

5. Trading platform. Some websites offer Tradingview platforms with different types of analysis tools like indicators, lines, channels, Fibo and the others. On the other hand, some exchanges offer simple and primitive trading terminals with Japanese candlesticks and timeframes. There are no analysis tools there.

6. Order types. Professional investors prefer websites with different types of orders including limit, stop losses, take profits and the others.

7. Verification procedure. Privacy is the key advantage of the crypto industry. However, the majority of exchanges require verification.

Recommendation:

Before you take the final decision to start trading with one or another website, try to contact their support service. Pay attention to how fast and complete the answers are.

Step 2. Create an account

When the first step is done, meaning you have found an appropriate exchange, your next step is to create an account. Almost all exchanges have a simple sign up procedure. You need to create a login, provide an email address and a password.

Registering procedure comprises email confirmation. Some websites recommend installing two-factor authentication in order to increase account safety level.

Recommendation:

You may be asked to complete the account verification procedure in order to remove the restrictions. We strongly recommend providing the exchange with correct personal data as you will be required to send your ID documents scan copy.

Step 3. Choose your coins

Bitcoin is not the only one nowadays. There are hundreds of different altcoins that you may invest in or speculate on. Professional traders advice to choose a couple of coins to start. The wide range of cryptos is good for diversification. However, beginners are recommended learning more about each asset they are going to buy, especially when they are going to invest. Why is this necessary?

First, when you plan to buy a cryptocurrency in order to hold it for a long time, you need to understand what is behind its price. Every coin is not simply a currency, but a project using some technology and offering some benefits to the users.

Ethereum, e.g., is a platform for developing decentralized applications and smart contracts. The last serve to conduct any kind of business without intermediaries. Monero is a secure and untraceable cryptocurrency, allowing users to conduct transactions with a high level of anonymity.

In order to understand whether it is a good idea to invest in this or that coin, you need to analyze whether it is promising or not. Every project has its own website and whitepaper, which are a kind of a presentation. Moreover, you can find detailed coins’ reviews on our website, which facilitates forecasting procedure.

Second, you need to compare the price of the chosen cryptocurrency with its perspectives with regard to its technology. Some coins may grow for no apparent reasons. There are risks of a pump & dump manipulations in this case. Such cryptocurrency is not for long-term investors as once manipulators reach their goals, they will dump coin and its price is likely to fall towards the initial levels (before the pump and dump strategy was launched).

As for traders who speculate on coins in short term, they also need to learn more information about the cryptocurrencies they are going to trade. However, as they buy and sell currencies within a couple of hours or days, they are better to pay more attention to technical analysis.

Find more on topic https://cryptocomes.com/how-to-trade-cryptocurrencies

04/16/18 Growth Trend Continues For Bitcoin and NEO, Litecoin and Monero Struggle

New week- new trend? Bitcoin and NEO reach local maximums over the weekend but are likely to require a recharge

Another trading week begins, and we can’t wait to find out what news it will bring for investors. Perhaps it's time for a local correction? Or will we see a continuation of the trends that started last week? This scenario, at any rate, would fully satisfy the bulls- during the weekend, the market continued to climb almost without fallbacks and Bitcoin price increased to $8,460.

Explosive growth slows down

The total capitalization has almost reached the level of $340 bln, which is $10 bln more than on Friday.

The increase is due both to Bitcoin and to the top altcoins, as well as some coins of the second tier. Unlike on Friday and Saturday, by the beginning of Monday, we are not seeing 30-40 percent “rockets” for individual assets. In the overwhelming majority of cases, average daily growth rates do not exceed five to seven percent.

Bitcoin dominance has not changed over the weekend and is 42 percent, another confirmation that the market growth is balanced, without disproportion between the main asset and altcoins.

BTC/USD

The young growth channel, which we pointed out in our Friday survey, received several confirmations and one extension. Now, it is constrained from the top by the mirror level, which can be not only horizontal but also inclined. Movement in this channel allowed the price to reach the target range of $8,300-$8,500 quite easily, followed by a fallback to $8,000 which the buyers met with equanimity.



The main task for the bulls now is to close out the day no lower than the previous 24-hour candle- that is, at the same level of $8,000. If the expectation becomes drawn out and the parties show hesitation now when Bitcoin is trading at $8,100, the initiative can move into the paws of the bears.

In this case, a correction to the range of $7,400-$7,600 is possible, which will not cancel the growth scenario.

We believe that Bitcoin will continue to move in the upper register of the ascending channel today. The immediate goal of the bulls is the resistance zone at $8,600, followed by $9,000-$9,200, where the really heated battle will unfold. While our views on the situation remain bullish, a possible local fallback can be viewed as an opportunity to build up long positions, which is what we recommend to our esteemed readers as well.

LTC/USD

Unlike its parent, Litecoin has not yet formed an ascending channel which could be relied upon. Instead, we see a cascade of rising minimums that are forming a section of a parabola.

Even the news about partnership with the TenX payment system could not help the asset- the memory of LitePay’s failure is still fresh in investors’ minds, and they are hesitant to fall for the same trick twice.



During the weekend, the maximum price was $134, which was followed by a correction to the 0.236 Fibonacci grid level. A decline to the 0.382 level of the same grid, which is $125, is not compulsory, but permissible. Even in that case, Litecoin will continue to build a basis for further growth. A more significant price drop won’t break the current picture of technical analysis but will indicate an extreme buyer weakness.

As for growth targets, the first is $137, which coincides with a powerful mirror resistance level. In case of overcoming that- it’s on to the region of $150. However, it is essential to understand that Litecoin can achieve its goals only under the conditions of full market growth. At the moment, the asset can’t swim against the current.

XMR/USD

Once again, Monero’s chart reminds us of Litecoin- the main conclusion here is the same: bulls have not yet managed to form an ascending channel. At the same time, we see periodic bursts of purchases, not accompanied by strong subsequent fallbacks, which may indicate that big players are entering long positions.



A slight correction to the level of $190 completely fits into the logic of continued growth, but it’s best not to let sellers go lower- in that case, the lateral trading figure will be broken.

On the other hand, for a strong price increase, there are two obstacles- the boundary of a long-term descending channel and a zone of strong resistance at $208-$220. At the moment, Monero is at a crossroads, and we recommend that readers avoid hasty investment decisions.

NEO/USD

Compared with other assets, NEO is demonstrating the most confident growth. On the chart, we see a clear growth channel, in which the price has been moving for 10 days straight. At the same time, the steepness of the channel imposes certain demands on the bulls, which will not be easy to fulfill. Therefore, we believe that in the near future the channel will be broken downward.



In this case, a correction to the 0.5 value of the Fibonacci grid is possible- into the mirror-level region of $62.4. While bullish sentiment prevails on the market, we don’t see any reason for the price of NEO to fall lower than that. In the asset’s analysis, the easiest thing to see is the perspective growth target- it’s clearly visible at $80. Just how quickly it will be reached is a much more complicated question, but we believe that it will not happen in the next two days. As stated above, today we expect a minor correction and horizontal trading in the range of $62-$70.

The link: https://cryptocomes.com/growth-trend-continues-for-bitcoin-and-neo-litecoin-and-monero-struggle

04/13/18 Bitcoin, Ethereum, Ripple Benefit From Market Growth, Monero Needs Support

A mysterious buyer saves Bitcoin from another drop, initiating market reversal. Ripple and IOTA lead the growth

Let's commit this date to memory: April 12, 2018. Perhaps it will go down in history as the day when a powerful upward trend was born in the cryptocurrency market, carrying the assets up to new, previously unexplored heights.

But even if this does not happen, it has been a long time since we’ve seen such unpredictable and dramatic trading. For those who missed it, we’ll give a brief description of the bacchanalia that transpired, peppering the story with some authoritative commentary.

Deus Ex Machina saves the day

At the beginning of the day, Bitcoin was not doing very well. The figure that we analyzed in yesterday’s review was punctured downward, technical indicators and graphical analysis suggested that a further fall is not only possible but probable.

Altcoins joined the main asset in the dreary outlook. But, at exactly 11 a.m. (UTC) a mysterious buyer appeared on the playing field and began to buy up Bitcoin at the market price of $6,800. He lit a green candle the likes of which we have not seen since November 2017.

As a result, Bitcoin price grew by $1000 in a half hour, and the market moved to a new existential logic. It seems that the price of $6,800 turned out to be a comfortable one for a big investor. At the same time, the temptation to buy lower could have played a cruel joke on him - if Bitcoin dropped to $6,600 again, dragging it out of that hole would have been much more difficult.

Market cap surges 10 percent

Market capitalization has grown rapidly by more than 10 percent and currently stands at $337 bln. Of course, all members of the top 10 grew in relation to the dollar, but the best results are shown by IOTA (plus 25 percent), Cardano (plus 19 percent) and Ripple (plus 16 percent). Among outsiders today was EOS with a modest 4.5 percent increase and Litecoin with an increase of eight percent. While EOS deserves a rest after yesterday's rally, the same cannot be said of Litecoin.

BTC/USD

Without exaggeration, the huge purchase volume helped Bitcoin easily overcome the important resistance at the $7,500 level, which has now become a support. Perhaps in the near future, we will see a retest of this mark, but so far it is not limiting growth, and neither is the descending channel that has been left far behind.



The price is forming a beautiful bullish flag, indicating a target of $9,200. A realistic view of the situation does not allow us to rely on such a scenario: on the way down, the Bitcoin submarine gathered a lot of passengers who were suffering losses and dreaming of an exit that was at least equal to the price of purchase.

At the same time, we see a well-formed gently inclined upward trend, in which the price can continue to move for some time. In this case, a correction to $7,500 will be logical.

As we did yesterday, we are closely watching the price’s exit from the figure. An upward activation will allow the bulls to go for $8,300-$ 8,500, while a downward break will lead prices to the nearest support level.

ETH/USD

Despite the false downward break of the "cup with a handle" figure, further developments turned out to be positive for investors. Assisted by the explosive growth of the rest of the market, Ethereum reached its first goal of $475, fell back a little, and after several attempts broke the boundary of the long-term descending channel. Encouraged by their success, the bulls did not stop and continued to push the price to the level of 0.618 Fibonacci expansion - $500.



The next buyer target is $540, but as in the case with Bitcoin, we do not expect an immediate continuation of rapid growth. In our opinion, a retest of the boundary of the descending channel, or at least of the $475 level coinciding with the value of 0.5 Fibonacci expansion, would be quite appropriate.

XMR/USD

Unlike other assets, Monero will encounter a few more parallel descending channels on its growth path before the downtrend will release this coin from its embrace. One obstacle was respectably overcome yesterday, the next is at the level of $200.



Similar to the Bitcoin graph, we see a bullish flag with a $215 target. As often happens, this goal finds several confirmations at once - the mirror level and the boundary of the last parallel descending channel. After passing this milestone, nothing will hold XMR back. Given a negative development, we could see a fallback to the nearest support - $180, where it will be sensible to consider acquiring the asset for the medium term.

XRP/USD

In the course of the prolonged correction, Ripple suffered more than many other coins, so it is not surprising that in the absence of negative fundamental news (as in the case of Litecoin), it is recovering faster than the market.



On Thursday, XRP price exceeded the targets we set yesterday and almost reached $0.67. Overcoming this mark is a key factor for continued growth - it's a mirror resistance level, which confirmed the significance on Feb. 2 when the trading volume for Ripple was at its maximum, as well as the point of intersection of the values ​​of 0.786 and 0.236 of two Fibonacci extensions.

If the bulls can break it, the next target is at $0.72.

Since we expect a slight price fallback for most assets, we will also designate a level for Ripple: with a high degree of probability it is $0.59, which coincides with the 0.5 value on the  Fibonacci grid.

The link: https://cryptocomes.com/bitcoin-ethereum-ripple-benefit-from-market-growth-monero-needs-support

04/12/18 Altcoins Grow With Litecoin, Ripple and EOS Leading the Race; Bitcoin Lags Behind

Bitcoin’s lateral movement gives chance for altcoins to show themselves. LTC and XRP are on rise, EOS surges.

While the first half of Wednesday was filled with doubt and caution, by the end of the day there was a breakthrough, all positions were in the green, trading volumes increased many-fold and the market was filled with euphoria again.

This time, Bitcoin was not the catalyst- its price practically hasn’t changed since yesterday. In our opinion, this was how tension in the minds of investors was released- through the fear of losing profit, as altcoins seemed to reach bottom and had no plans to fall further.

As a result of the efforts of active buyers, capitalization increased by $12 bln and is now $277 bln, while Bitcoin dominance plummeted to 42.7 percent, continuing the trend and confirming yesterday's conclusions. For a little while, the lateral movement of the main asset allowed altcoins to spread their wings.

Another airdrop boosts a coin’s price

Former unity is gone from the top 10- the coins are growing without any regard for their neighbors.

Today’s absolute leader is EOS, growing by 50 percent- an incredible feat for a top asset! This growth was sponsored by the news about the upcoming airdrop of eosDAC tokens for all EOS holders with the support of the large Korean exchange Upbit.

Notably, the trading volumes of EOS in Korea are especially high, comprising nearly half of the global amount.

In second place at today’s rally is NEO, with a gain of 10.5 percent, followed by Cardano with 8.5 percent, and Ripple - somewhat unexpectedly-  in fourth place with seven percent. The remaining assets show more moderate growth of four to six percent. Bitcoin is the outsider today- an increase of 1.5 percent is laughable compared to the success of other coins.

BTC/USD

In the previous review, we predicted a lateral movement for Bitcoin on Wednesday, with highs around $7,000-$7,150, and we were right.

Our attention was caught by a figure that does not appear in textbooks on technical analysis, but clearly has some power over the price - let's call it the "fish head." It seems that the situation should be resolved in the course of today, more specifically- in its second half.



Given the proximity of the $7,000-$7,150 range, which is a resistance in view of the presence of mirror levels, as well as the strong 0.5 and 0.618 Fibonacci expansion values, a false break through the figure is possible. Although considering the bullish sentiment in the market, the fallback is unlikely to be significant. For now, most indicators are suggesting that Bitcoin will move upward, but we can’t forget about the treachery of bears who have interrupted growth more than once before.

If buyers manage to overcome gravity and break out of the lateral trade, today we may see a test of the boundary of the long-term ascending channel, and then a sprint toward $7,500 where another resistance awaits. In case of a negative scenario (we are watching for the break of the figure!), the fall to previously indicated targets remains in force, although it becomes less likely given buyer excitement.

EOS/USD

For almost three weeks, EOS was resting at the level of $6, preparing, as it turned out, for explosive growth. The surge was only slowed down by the mirror level at $9.2. Three more days remain until the airdrop, so we are likely to see another upward sprint.



In the context of the current situation, it’s not quite accurate to discuss bull targets - the ongoing events are more like panic purchases, rather than cold calculation and purposeful actions.

However, the set of supports and resistances hasn’t gone anywhere. At the moment, we see the maximum price in the range of $10-$10.5, which is constrained by the mirror level on one side, and the 2.618 Fibonacci expansion on the other. The next growth spurt will be difficult to implement without a small fallback. With a high degree of probability, EOS will make a recovery stop in the region of $8.

It’s difficult to predict how much the price of EOS will fall after the conclusion of the airdrop- it all depends on the state of the market on Sunday. It’s possible that those $8 will become the fair price for the asset for a period of time. In any case, we recommend that EOS investors remain cautious and closely follow the events on Sunday. It is advisable to set stop-loss orders at just below $8, or partially book profit upon reaching $10.

XRP/USD

Yesterday, Ripple returned to the ranks of assets that draw the interest of investors- this is indicated by the significant initial purchase volume. The last time when we saw such activity was in early March.

As a result, XRP almost reached the level of $0.56, where the 0.382 Fibonacci retracement value is located.



The nearest growth target, with multiple confirmations, is $0.59, followed by $0.62. No descending channels are pressing down on the price anymore, so everything depends only on the zeal of bulls and the love of investors. The worst is over for Ripple, since the critical support level ($0.45) has been left far below. Cautious purchases will not be in conflict with common sense.

LTC/USD

Once again, many parallels can be drawn between the graphs of Litecoin and Ripple, so we will keep this brief. We also see a surge in buyer activity, confirming that despite all adversity, Litecoin cannot be completely discounted.



In case of continued ascending movement, the main task of the bulls will be breaking through the boundary of the descending channel and the “cementing” of the $120 level, after which they can try for $130-$132.  Protection is provided by the support zone in the narrow range of $109-$112. It will hold up in any scenario, except that of Bitcoin traveling towards $6,000. Despite the enlivening in Litecoin trading, we still recommend that readers avoid active purchases and direct their attention to other assets.

The link: https://cryptocomes.com/altcoins-grow-with-litecoin-ripple-and-eos-leading-the-race-bitcoin-lags-behind

Past ICO Review: Borderline Porn May Help Substratum to Bootstrap


This ICO is a good tech, but are perverts the only ones who are really willing to pay for the freedom of the Internet?

If Silicon Valley’s scriptwriters aren’t secretly paid by the Blockchain community, they should be. Look how many successful ICOs more or less replicate Pied Piper’s idea from the series- you remember that, hosting insurance company’s critical data on fridges worldwide, decentralized Internet and so on?

Filecoin. Storj.  And Substratum. The last one, a relatively modest player in terms of amount raised (about $13 mln), offers not a decentralized file storage, but rather decentralized hosting and content delivery network, with integrated cryptocurrency payment platform for the hosted services. This means one can host their content and receive payments for it in a decentralized manner.

Road ahead

Their concept seems to be well-thought, and the white paper foresees the most obvious questions.

Sort of Tor-meets-AWS thing, where anyone can host a portion of someone else’s content on a node run even on their PC, and earn money every time this content is served to someone. Accessible, unlike Tor, for non-initiated, from a normal browser, with no plugins or extensions. $SUB token is used to pay off people who provide CPU time and disk space for the decentralized network.

Screw the establishment! Hail Net Neutrality! Long live the freedom of expression! At this point, Silicon Valley set gradually transforms into Mr. Robot’s. Fade off.

Yeah, right. Well, now shake your head and try to breathe out the hypnotic atmosphere of official telegram groups; these mostly look like a boys’ band fan club chat.   

Make no mistake, Substratum is a good performer, and seemingly a good tech. It has more than decent team. They keep their roadmap ($SUB people expect the public beta this April). They maintain communication. They didn’t erase their whitepaper after the token sale ended. They don’t change the idea.

There are even rumors that the team intends to run ads on CNN, CNBC and Fox Business News soon (which may, in theory, attract users to the network and/or $SUB buyers). That’s all good, or as good as one can get in a market as immature and untamed as ours.

But how big is the market for the problem they offer to solve? Do they have a chance to become a global operator? Or will Substratum be confined to a niche, as a solution for the gray zone of the Internet? How many paying people are actually willing to pay for the Internet “to be a free and fair place for the entire world?’

“Your margin is my opportunity”

I’d respectfully disagree with Substratum’s white paper’s authors though when they say that “The primary issue with web hosting in its current form is that is incredibly expensive! It can cost upwards thousands of dollars per month solely to host the site files—this doesn’t include any maintenance costs or additional security. This makes it incredibly difficult for small or medium-sized businesses to have a strong web presence without incurring significant costs.”

Well, a small or medium-sized business normally doesn’t need “a strong web presence” that incurs that kind of costs. If that’s the market they aim for, well…

Substratum white paper claims that, since they will only charge for click, not uptime as AWS, they’ll be able to reach a level of prices “less expensive than current industry standard hosting.” Larger hosting companies margins are pretty high (Rackspace’s EBITDA margin was above 35% before it became private in 2016, and stopped publishing quarter results - the NOPAT margins were much lower, about 7.8% though), so, as Jeff Bezos said, “your margin is my opportunity.”

Individual nodes won’t have the kind of overheads, taxes,  infrastructure or costs of a hosting company, so the assumption of much lower price is feasible.

Another question is whether node owners would settle for that technically feasible lower price. They don’t have the scale of the large company, so they must be kept motivated.

Imperfections

Notwithstanding that, some users will install a node without commercial interest, to browse Substratum network (like they do in Tor) in a decentralized mode, especially in countries with a high level of Internet censorship and state control. It is unclear whether these non-professional participants will be enough to keep Substratum running. Substratum will install and run several supernodes to maintain the network to address this issue in early stages of network growth, though.

Neither it is clear how much resources one should commit to earning a meaningful income. It will be a function of the number of sites in the network and the traffic to them from the region which is close to the node. The latter is important because Substratum protocol attempts to provide data from the geographically-closest nodes.

Another possible problem that remains would be the volatility of the token, i.e., susceptibility to price manipulation, so that either hoster’s expenses may increase in an unforeseen manner, or, vice versa, nodes income may fall. Prolonged periods of token price instability may disrupt the network and make it unreliable. This is true for many projects, of course.

Also, the network architecture may be susceptible to fraud to a certain degree. If the node owner determines what content it stores (nodes aren’t supposed to know that, in Substratum architecture), a fraudulent scheme is imaginable: false bit traffic is generated, which is then “served” by the node, who then claims rewards.

If the node or group of nodes is big enough, it may theoretically accumulate enough content to be selected by Substratum DNS with a high probability, so this kind of spoofing operation is possible.

The Internet is for porn

All good inventions of the human race are first used either for killing fellow humans, or to distribute pornography or prohibited substances. There’s almost no exceptions from this rule, and Substratum certainly isn’t one of them.

I am sure that, the obvious market for Substratum services, that will help it grow in the medium term, will be specialty and fringe online porn, and illegal/fringe pharmacy/drug sales. Anonymous hosting + anonymous content delivery + anonymous payment platform = that’s practically an invitation for porn peddlers and drug dealers.

I am not a moralist, so I see these businesses as acceptable as any other unless someone gets hurt against their will.

Substratum’s team claim that there’d be an internal governance procedure of the network allowing to take down obviously malicious players (like child pornography) from the network. If that doesn’t happen, the network may attract the unnecessary attention of the state or states.

Many of the Hollywood celebrities were engaged in porn before they became famous. But many others never left porn, and never had the luck to enter the spotlight. What fate awaits Substratum?

The state and the states will be watching Substratum unless it is well-governed from within, or even if it is.

The link: https://cryptocomes.com/past-ico-review-borderline-porn-may-help-substratum-to-bootstrap

04/11/18 Bitcoin Price Not Moving, Ethereum and NEO Climbing With Investor Support

Ethereum and NEO prepare a springboard for further growth while Bitcoin rests at $6,800. The market remains calm, and yet unpredictable

As we have seen several times now, uncertainty is the market’s favorite state in the middle of the week. The prices of the main asset and the top altcoins are once again stuck at a crossroads, giving no signals for further growth or decline. Market players are beginning to get used to low volatility and are losing their vigilance, for which they are likely to be punished at the most unexpected moment.

Altcoins draining funds away from the main asset

The total capitalization of all assets has not changed: it is $265 bln, which is only $5 bln more than the previous day. For the cryptocurrency market, such a small fluctuation can practically be attributed to statistical error. Bitcoin dominance, on the other hand, deserves notice, coming down to 43.7 percent by Wednesday. This indicator has been falling for three days running, which points to the flow of capital away from the main asset. The logic of investors is simple here - it’s called “entertain yourself.” When the market is calm, attention can be shifted to the search for promising altcoins.

BTC/USD

For almost two weeks, Bitcoin has been in a lateral movement within the narrow range of $6,400-$7,500. Several relatively strong bursts of activity among sellers and buyers brought trading volume and fortified this level. On the left trading profile, we see that the fair price for the period since Jan. 15 is still at $8,250, but the current range has already risen to second place in terms of the number of transactions and is likely to become a new basis for further movement.



Bitcoin’s daily price change was just around $200- ranging from $6,650-$6,900, so our prediction from yesterday was correct. Buyers hesitated on getting out of the trap and were able to overcome the resistance only by the second half of the day, having no strength left to increase their success.

We are not expecting much activity from the opposing parties today, either. It’s probable that in the course of the day the ascending channels will be tested- at least the green one, but if the decline touches on the yellow also, we may see Bitcoin at $6,500 again. Today's local maximum is unlikely to be more than $7,000, which coincides with the value of the 0.5 Fibonacci expansion, or $7,150, where buyers will be greeted by the 0.618 value of the same grid.



If nothing extraordinary happens, the uncertainty should be resolved by April 14-15. At that time, Bitcoin might fall out of the long-term descending channel which is likely to trigger purchases. Until then, the chances remain of seeing Bitcoin at $6,000.

ETH/USD

For the second day in a row, Ethereum is doing better than the market and pleasing connoisseurs of technical analysis with beautiful figures. Today, it’s a "cup with a handle," which often forms as a result of an unsuccessful activation of the "saucer." In order to bring the figure into action, buyers need to break through the "neck" line at $435. This does not look like an impossible task, but it requires favorable conditions - at the very least, Bitcoin must hold above the levels of its supports.



In case of the figure’s activation, the target of the bulls is $475 and the boundary of the descending channel. However, this is a fairly optimistic scenario. More probable is a continued lateral trade at the level of the 0.236 Fibonacci expansion and a rebound down from the “neck” line. The most important thing in the current uncertain situation is that Ethereum has a safe margin of decline to the level of the local minimum of $360, which means investors will be able to wait out Bitcoin’s drop if it’s not too steep.

NEO/USD

We noticed that recently NEO and Ethereum, being assets of the same type, are moving together. Today, once again, NEO is showing results that are similar to its big brother. The initial purchase volume, which we saw on Monday, continues to influence the price- the interest of buyers has subsided somewhat but remains consistently high compared to last week.



The immediate goal for the bulls is $58- it coincides with the 0.382 Fibonacci extension and the mirror level. To achieve it, the boundary of the parallel descending channel, which stopped growth the last time, will have to be overcome. If this is accomplished, then even a double top at the level of the previous local maximum is unlikely to help the bears hold back the onslaught.

Just like Ethereum, NEO is gathering a reserve of resilience in case the heavyweight Bitcoin gives the market a cold shower again. The level of $44-$45 is a relatively reliable support for the asset, and the price is moving away from it more and more.

The link: https://cryptocomes.com/bitcoin-price-not-moving-ethereum-and-neo-climbing-with-investor-support

04/10/18 Market Down Again, No Surprises from BTC and ETH, Hard Times for LTC and XRP

Bears didn’t take long to recover. The market is red again with Bitcoin struggling close to support line, while Litecoin and Ripple are in trouble.

Having let the young bulls feed on the cryptocurrency pastures for the weekend, on Monday the bears came out of their dens and showed the market who is (still) the boss. Two days of upward movement were corrected literally within two hours, and investors were left with deceived hopes, again. We have repeatedly warned our readers about remaining cautious - in the context of a global downtrend, any local successes may turn out to be a trap.

As a result, the market lost about $10 bln, and the total capitalization by the beginning of Tuesday is $260 bln. Bitcoin dominance is declining for the second day - this time, to 44.3 percent.

Verge emerges on the market surface again

Despite the fact that the most assets are in the red, some projects continue to push against the trend. Primarily, these are our old acquaintances Verge (with an increase of 18 percent) and Ontology (plus 14 percent).

They were joined by Golem, growing by 12 percent, Mixin, with an impressive increase of 45 percent (which looks more like a pump) and Polymath with 25 percent of growth. Coins from the top 10 are moving in harmony today: the decrease was 3 - 6 percent for all assets.

BTC/USD

Yesterday, the bulls failed to achieve the goals that were assigned to them through technical analysis, and as a result Bitcoin could not hold on to the hard-won levels. A 10-day maximum sale volume forced the price down to $6,620, once again testing the strength of the ascending channels. One of them (formed in the middle of July 207) was easily broken, the second (from March 2017) is holding for now - and Bitcoin ended up in a trap.



If buyers are able to escape this trap within a few hours, then today we can expect lateral trading from current values ​​to the levels of $7000 - $7100. The price is inside the parallel descending channel again, the boundary of which creates an additional obstacle. At the same time, the chart is showing a fully formed bearish flag, the activation of which will point toward $6000, if the sellers lower the price below the yellow support line. The situation remains uncertain.

ETH/USD

Another Bitcoin drop prevented Ethereum buyers from fully activating the saucer figure. The price reached $430, which is $10 less than the goal from yesterday's review, and began the correction. The good news is that the depth of the drop was only $30, which inspires some optimism given the weakness displayed by ETH investors earlier.



The crossing ​​of the 0.236 values of two Fibonacci grids clearly indicates the key level for Ethereum, from which the most significant movements will occur - this level is $415. Transition to confident growth is possible only after the price gains a confident foothold above that. In the negative scenario, $360 is still a serious support - investors will certainly do their best to protect it.

LTC/USD

From the point of view of both technical and fundamental analysis, Litecoin looks entirely unattractive for investment at the moment. It’s enough to look at the chart to see this.

LTC is inside a long-term descending channel and there is no hint of impending change. Not only is the price dangerously close to the critical level of support, the trading volumes fail to confirm any interest from buyers.



In addition to all the troubles, the chart shows a forming figure that distantly resembles “head and shoulders,” the activation of which takes the price to $90. We don’t expect such a dramatic development, but neither can we rule it out. At a more conservative estimate, the target for bears is the range of  $100- $105. Our recommendation to refrain from trading Litecoin is still in force.

XRP/USD

The current situation with Ripple is so similar to Litecoin that the same conclusions can be applied to both. The price of XRP is also clinging to the critical support, the chart also shows the formation of something similar to "head and shoulders," trading volumes are more than modest.



There are no hints of growth, while the targets of a possible further decline are very clear: if $0.45 does not hold, the bears will aim for the range of $0.42 - $0.4. It’s unadvisable to even think about entering long positions, until there are at least some positive signs - about which we will happily inform our readers, of course.

The link: https://cryptocomes.com/market-down-again-no-surprises-from-btc-and-eth-hard-times-for-ltc-and-xrp