Month: October 2019

BTC Bears Are Back Bitcoin Slowly Weakens as Altcoins Beat a Retreat

BTC Bears Are Back, Bitcoin Slowly Weakens as Altcoins Beat a Retreat

Bitcoin has managed to hold on above $9,000 for another day but it is slowly weakening and likely to drop below that support level by the weekend. The altcoins meanwhile are already sliding further and may well dump all recent gains.

Bitcoin Support Weakening

The pattern is pretty clear when looking at the Tradingview charts. A down trend has formed on the week and Bitcoin is slowly losing ground as it slides back towards $9k this Halloween day. The highest it could manage over the past day is $9,250 and a couple of hours ago BTC dropped to its intraday low of $9,050 for the second time.

BTC price 1 hour – Tradingview.com

Lower highs and lower lows indicate a continuation of this trend in the short term. Trader and analyst ‘Big Chonis’ has been doing the TA …

“Yesterday’s daily candle had a nice bounce reaction to the MA200, today’s current bitcoin follow up looks to retest again, RSI drifting into mid 50’s, MACD with another lower high with volume continuing to decline, so far nothing says $9K is strong support just yet …”

The bearish sentiment is starting to return to crypto twitter as analysts start to agree that down is more likely than up. ‘Credible Crypto’ added that a fall back to the low $8,000 level is likely.

“Either way I expect 8600-8800 to be hit sooner or later and if we clear the lows now I ultimately expect 8000-8200 to be met.”

China fever is waning and it is back to business on Bitcoin markets which were heading downwards before the huge weekend boost.

Altcoins in Pain Again

Ethereum has declined by 2.5% over the past 24 hours as it drops back to $185. ETH really needs to keep hold of these gains to prevent an eventual collapse to $150. There has been no indication that it is ready to break free from the shadows of its big brother though.

XRP just can’t break over $0.30 and has fallen back below it again today as the Ripple token loses 2%. Bitcoin Cash has also dropped 2% but it has been very bullish over the past week holding on to most of its gains. BCH is currently trading just below $290 but is primed to fall if BTC does.

Litecoin and Binance Coin are flat, hovering around $60 and $20 respectively while EOS is dumping again in another 3% fall. Following its Samsung induced pump yesterday, Tron is dumping today as a 7% slide drops TRX back to $0.020.

Around $5 billion has exited crypto markets over the past 24 hours as total capitalization falls to $245 billion. Markets are still up $40 billion on the same time last week but the bears are slowly returning and those gains are starting to erode.

 

Martin Young

David Ogden – Http://markethive.com/david-ogden

After the recent surge in price by BTC other crypto currencies are making positive moves after attaining a bullish break Binance Coin NEO Bitcoin SV are making positive moves except for Stellar and IOTA

After the recent surge in price by BTC, other crypto currencies are making positive moves after attaining a bullish break. Binance Coin, NEO, Bitcoin SV are making positive moves except for Stellar and IOTA.

The selling pressures are being exhausted as the bulls take control of the price. The bullish market can equally be sustained if buyers are introduced at the demand zones.

BNB/USD Major trend: Bullish

On October 24, the BNB price finally broke the resistance line of the descending channel which indicates a positive sign. This may signal the end of the downtrend if the bulls sustain the price above the channel. The market is above the 40% range of the daily stochastic indicator which means that price is in a bullish momentum. Nevertheless, from the price action, if the bulls break above the previous highs of $20 and $24 price levels, the pair will be out of the downtrend zone.

NEO/USD Major trend: Bullish

The NEO/USD pair has made a more positive move than Binance Coin as the bulls took control of price. The coin will be out of the downtrend zone if it overcomes the resistance levels of $10 and $ 12. The market is approaching the overbought region of the Relative Strength Index period 14 level70. In other words, the market is in the bullish trend zone. The Fibonacci tool confirms that the market will reverse at the 1.272 extension level because a bullish candle body tested the 0.786 retracement level.

XLM/USD Major trend: Ranging

In October, Stellar has been consolidating above the $0.060 support level after the last bearish impulse. The bulls and the bears are undecided about the direction of the market for the past month. The 12-day and 26-day EMAs are trending horizontally indicating that price is in a sideways movement. According to the Fibonacci tool, Stellar may as well reverse at the 1.272 extension level.

BSV/USD Major trend: Bullish

Bitcoin SV is making another positive move as the price breaks the bearish trend line and reaches the previous highs. Presently, it is facing resistance at the $150 price level. The coin is in the bullish trend zone. Nevertheless, if the price continues its upward move, and the $150 and $175 resistance levels are broken, the coin will attain a previous high of $250 supply zone. The market is trading in the overbought region of the Relative Strength Index period 14 levels 69.

IOTA/USD Major trend: Ranging

In October, the IOTA/USD pair has been consolidating in a tight range. The market fluctuates between the levels of $0.25 and $0.28. This consolidation in a tight range was as a result of the failure of the bulls to break the $0.30 resistance level. Likewise, the bears were unable to break below the $0.25 support level. Meanwhile, the Fibonacci tool indicates that IOTA is likely to fall to the 1.272 extension level. The Relative Strength Index period 14 level 47 explains that IOTA is in a sideways move.

 

Oct 28, 2019 at 09:41 // NEWSAuthor

Coin Ido

David Ogden – Http://markethive.com/david-ogden

Bitcoin BTC Price Consolidating Gains Bulls Eyeing Fresh Increase

Bitcoin (BTC) Price Consolidating Gains, Bulls Eyeing Fresh Increase

  • Bitcoin price is currently consolidating above the key $9,000 support area against the US Dollar.

  • The price is struggling to gain bullish momentum above the $9,600 and $9,720 resistance levels.

  • There is a connecting bearish trend line forming with resistance near $9,560 on the hourly chart of the BTC/USD pair (data feed from Kraken).

  • The price must climb above $9,600 and gain pace above $9,720 to continue higher in the near term.

Bitcoin price is likely setting up for the next major break against the US Dollar. BTC remains well supported above $9,000 and it could climb higher towards $10,000.

Bitcoin Price Analysis

Recently, bitcoin price climbed towards the $10,000 resistance area against the US Dollar. However, BTC failed to continue higher and formed a high near the $9,935 level.

Later, there was a fresh decline below the $9,600 and $9,500 support levels. The price traded close to the $9,100 support area and remained well bid above the 100 hourly simple moving average. The recent low was near $9,194 and the price is currently climbing steadily.

There was a break above the 23.6% Fib retracement level of the recent decline from the $9,935 high to $9,194 swing low. At the outset, bitcoin is testing the $9,500 and $9,550 resistance levels. Additionally, there is a connecting bearish trend line forming with resistance near $9,560 on the hourly chart of the BTC/USD pair.

More importantly, the 50% Fib retracement level of the recent decline from the $9,935 high to $9,194 swing low is acting as a hurdle for the bulls. Therefore, an upside break above the $9,550 and $9,600 levels is needed for a fresh increase.

The next major resistance is near the $9,720 level, above which the price could rise steadily towards the $10,000 resistance area. If the price accelerates above $10,000, it could revisit the $10,500 zone.

Conversely, if the price fails to break the $9,550 and $9,600 resistance levels, there could be another downward move. An immediate support is near the $9,200 area. Having said that, the main support is near the $9,000 level and the 100 hourly SMA.

Looking at the chart, bitcoin seems to be consolidating nicely above the $9,000 and $9,200 levels. As long as there is no close below the 100 hourly SMA, there are chances of a fresh increase towards the $10,000 and $10,200 levels in the coming sessions.

Technical indicators:

Hourly MACD – The MACD is showing positive signs in the bullish zone

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is moving higher and it is currently near the 50 level.

Major Support Levels – $9,200 followed by $9,000.

Major Resistance Levels – $9,550, $9,600 and $9,720.

 

Aayush Jindal

David Ogden – Http://markethive.com/david-ogden

Markethive’s ILP what is it?

Markethive's ILP, What Is It?
Incentivized Loan Program

Think ICO or IEO type of crowd funding. ICOs have come under the scrutiny and attention of Government regulators for their speculative nature and many ICOs have turned out to be total scams. IEOs have sprung up to find a bypass to avoid the regulators scrutiny.Think ICO or IEO type of crowd funding. ICOs have come under the scrutiny and attention of Government regulators for their speculative nature and many ICOs have turned out to be total scams. IEOs have sprung up to find a bypass to avoid the regulators scrutiny.

 

ICO: Initial Coin Offering often in tandem with a crowd funding or MLM offering. Basically you put up some money and in return you are given tokens which are promised to become coins you can trade on the exchanges. The promoters will publish all their plans as white papers and the reason for the funding is to build out the plan, the dream the construct the technology.

But…

New study says 80 percent of ICOs conducted in 2017 were scams. With 50% of them failing to this day within 4 months and because of this overwhelming failure rate the SEC is hammering down and investors are fleeing from them.

And to make it even worse, 86% of all surviving ICOs their coins are worth far less than the investors paid initially.

Simply put ICOs were a good idea ruined by unethical shysters preying on innocent people.

 

IEO: What is an IEO? An Initial Exchange Offering, as its name suggests, is conducted on the platform of a cryptocurrency exchange. Contrary to Initial Coin Offerings (ICOs), an IEO is administered by a crypto exchange on behalf of the startup that seeks to raise funds with its newly issued tokens.

IEO participants do not send contributions to a smart contract, such as governs an ICO. Instead, they have to create an account on the exchange’s platform where the IEO is conducted. The contributors then fund their exchange wallets with coins and use those funds to buy the fundraising company’s tokens.

The biggest problem of an IEO is the core problem of too few people owning a majority of the token circulation. This happens mainly because an IEO is limited to one or several exchanges. People that don’t own an account at these exchanges are excluded from the sale, resulting in a small number of people getting their hands on the tokens. Accounts at exchanges need background checks, identity verifications, Know-Your-Customer procedures, all of which takes time. So, if you don’t have an account a day or few days before the IEO, you probably don’t have a chance at participating.

The above reason’s risk is associated to price manipulation. But constricting a coin’s circulation to a single or few exchanges opens up more possibilities for price manipulations, because no one can stop the whales. This also increases the risk of pump and dump schemes. This vulnerability will sway off many investors, because of the risks it poses. That’s why when researching the projects that you want to invest in, you have to take notice of the total token circulation. If the token supply is small and/or is distributed uneven and unfair, it’s highly susceptible to price manipulation and token hoarding.

Exchanges do their due diligence when they list a new token. Risking their reputation if they fail to do so, exchanges are very precise when they list a token, examining and researching the project’s whitepaper, product, team and more so they don’t list a scam project. The shear abundance of scam projects stays in the way of exchanges pursuing to do an IEO. If an exchange makes an IEO, then the token will be listed easier at the exchange, which opens up a vulnerability and strips the project of their obligations to deliver a good product.

Centralized exchanges like most of the big exchanges own the private keys of all wallets and making a trade or a transaction only happens on the exchange and not on the blockchain. That way, investors do not truly own their tokens and most of them don’t trust centralized exchanges. This also opens up the possibility of a failure on the exchange’s part.

When an IEO ends, the token trading starts. But because of the nature of IEO crowdfunding, people that want to invest in the project have to wait for the price to drop. Because of the fact that some investors got a big piece of the pie, these whales can choose to sell for immediate profits, destroying the price of the coin and/or profiting on the expense of small-time investors, removing the incentive to trade the token.

ILP

Not based on speculation but based on performance

Markethive’s ILP means Incentivized Loan Program. Operated independently from or in tandem with crowd funding, the ILPs comparison to the speculative nature of the ICO and IEO ends there. Simply put the ILP means you are lending Markethive money via terms within a smart contract. With attractive interest and loan repayments based on Markethive growth milestones, the ILP also offers and incentive a perk as it is, of a token. This token is based on 1 full token equals one share of about 1000 assigned shares. These shares “share” 20% of the company’s revenue. Revenue projections are based on 4 years of operations with established growth rates in membership signups, revenue upgrades and Alexa growth. In other words, traction.

1 full share is available at $100,000 or fractions of those shares to the single unit 100,000,000th called the BIT.  1 BIT would then be valued at .001. $100 would acquire 100,000 BITs.

These shares can be traded but more important they will pay out their share of the 20% of the revenue for 20 years based on the ILP token and these tokens will be renewable at term. These shares are also tradeable, assignable and will act similar to a promissory note.

Although Markethive is a global company and will have mining hives and crypto exchanges worldwide, its headquarters reside in Wyoming. Notably, as published in Forbes, Wyoming is the only US state that provides a comprehensive, welcoming legal framework that enables blockchain technology, both for individuals and companies. This is good news for Markethive and its community.

Matthew D. Kaufman of Hathaway & Kunz, LLP, The Wyoming Law Firm™ that was key in the afore mentioned Wyoming legislation is also the Lawyer retained by Markethive, states that “…Wyoming is one of the most blockchain-friendly states in the United States…”

What Are The Benefits Of An ILP?

One of the key benefits of ILPs is the fact they are a form of a loan. These kinds of funds are not taxed as is the case with ICO funding in some jurisdictions where it can be up to 40% as it is seen as income. Due to the crowdfunding aspect of the ILP, it is considered as a loan hence it is completely and totally compliant to the regulatory and UCC code which means it is not a security. The Incentivized Loan Program ™ is within the legal parameters (UCC) that govern the mainstream credit market. Markethive Members who decide to take part in this program are assured that their funds are well protected and cannot dissolve without a trace as seen by some ICO’s (Initial Coin Offering Projects) in the past.

ILPs are also regulatory friendly, in that they can be compliant even with the most stringent regulatory frameworks around the world when it comes to fraud and money laundering. Participants are required to submit identification to show who they are. This solves one of the biggest issues that have seen regulators criticize ICOs severely.

There is no limit to the amount you choose to loan Markethive. The best part is even the small investor can participate by way of the Entrepreneur program at $100 per month. Not only does it unlock the advertising and commerce portals, it earns you a 1/10th share of an ILP for every 12 months that you continuously contribute to the program (limited to the first 1000 Entrepreneur upgrades).  That is significant as the ILP will be like a Bitcoin in that it will be able to be broken down into “satoshis” ie: 1 millionth of a coin. So 1 full ILP equals 1 million ILP “satoshis”. This enables Markethive to conduct bounties, rewards, and trading on the ILP. This simply turns the ILP into a cash cow.

SUMMARY ILP:

  1. It's a debt instrument and not subject to tax and it compliant with the USA UCC code governing debt instruments.
  2. The company doesn't need to create tokens that are speculative and actually have no use.
  3. It is open to individuals around the world as loans are allowed almost everywhere.
  4. After the principal is paid you earn interest and will share in the success of the company.

Very Easy to Participate

Sign up at Markethive.com for a FREE membership and then upgrade to the Entrepreneur level (availability is limited and can end at any given time).

After every continuous year you will receive an additional  1/10 of a full ILP and after 10 years you can accommodate a full ILP token.

Purchase an ILP outright (priorities are given to ILP purchasers)

To learn more about the ILP and how Markethive is moving forward (and see our use of funds) go to this blog…

https://markethive.com/group/marketingdept/blog/the-blessings-upon-markethive-are-many–updated

 

David Ogden – Http://markethive.com/david-ogden

Bitcoin BTC Price Steadies Uptrend But Another Correction Likely

Bitcoin (BTC) Price Steadies Uptrend But Another Correction Likely

  • Bitcoin price is gaining bullish momentum and is trading above $9,500 against the US Dollar.

  • The price is facing a strong resistance on the upside near the $9,820 and $9,850 levels.

  • There is a crucial bullish trend line forming with support near $9,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).

  • The price could correct in the short term towards $9,200 before another rally.

Bitcoin price is trading in a steady uptrend above $9,000 and $9,200 against the US Dollar. BTC is likely to climb steadily with a few downward moves.

Bitcoin Price Analysis

This past week, there was a sharp rally in bitcoin above the $7,500 and $8,000 resistances against the US Dollar. BTC even surged above the $9,500 and $10,000 levels before correcting lower.

Later, the price corrected below the $9,500 support and the $9,000 pivot zone. However, the decline was contained below $9,000 and the price remained well above the 100 hourly simple moving average.

A low was formed near $8,896 and bitcoin started a fresh increase. It broke the $9,000 and $9,200 resistance levels. Moreover, there was a break above the 50% Fib retracement level of the downward correction from the $10,578 high to $8,896 low.

However, the price seems to be facing a strong resistance near $9,850 and $9,900. Besides, the 61.8% Fib retracement level of the downward correction from the $10,578 high to $8,896 low prevented any further upsides.

At the moment, the price is declining and is moving towards the $9,500 support. More importantly, there is a crucial bullish trend line forming with support near $9,500 on the hourly chart of the BTC/USD pair.

If there is a downside break below the trend line, the price could extend its downward correction towards the $9,200 level. Any further losses may perhaps push bitcoin price towards the $8,750 support area.

Conversely, if the price continues to climb higher, it could climb above the $9,850 and $9,900 resistance. The main hurdle is near the $10,000 level, above which the price is likely to climb towards $10,500.

Bitcoin price

Looking at the chart, bitcoin is showing a lot of positive signs above the $9,500 and $9,200 levels. However, there are a few chances of anther downward move towards $9,200 or $9,000 to complete the correction. Once the price completes the current correction, it is likely to surge above $10,000 or even $10,500.

Technical indicators:

Hourly MACD – The MACD is slowly moving into the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is correcting lower and it might test the 50 level.

Major Support Levels – $9,500 followed by $9,200.

Major Resistance Levels – $9,850, $9,900 and $10,000.

 

 

Aayush Jindal

David Ogden – Http://markethive.com/david-ogden

Bitcoin BTC Price Weekly Forecast – Is This Real Bullish Break?

Bitcoin (BTC) Price Weekly Forecast – Is This Real Bullish Break?

  • There was a strong rise in bitcoin price from above $8,000 and $9,000 against the US Dollar.

  • The price even spiked above the $10,000 resistance, but it failed to hold gains and declined.

  • There is a short term bullish trend line forming with support near $9,080 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).

  • The price could bounce back as long as it is trading above the $8,600 and $8,500 support levels.

Bitcoin price is trimming gains after a sharp rally against the US Dollar. BTC must stay above $8,500 to start a fresh increase. If not, it could dive back to $8,000.

Bitcoin Price Weekly Analysis (BTC)

In the past two days, there were heavy swing moves in BTC from the $7,500 support against the US Dollar. The BTC/USD pair rallied more than 20% and broke many hurdles near $8,500 and $9,000.

Moreover, there was a close above the $8,500 resistance area and the 100 simple moving average (4-hours). Finally, the price rallied above the $10,000 resistance and traded close to the $10,600 resistance area.

However, the bulls failed to remain in control and a top was formed near $10,591. Later, there was a strong downside correction below the $10,000 level. The price traded below the 23.6% Fib retracement level of the rally from the $7,425 swing low to $10,591 high.

Besides, the price traded below $9,500 and tested the $9,000 support area. Besides, it seems like the 50% Fib retracement level of the rally from the $7,425 swing low to $10,591 high is currently acting as a strong support.

More importantly, there is a short term bullish trend line forming with support near $9,080 on the 4-hours chart of the BTC/USD pair. If there is a downside break below the trend line and $9,000, bitcoin price could test the next major support near the $8,600 area.

The $8,600 and $8,500 levels are crucial supports since they acted as hurdles previously. Additionally, the 61.8% Fib retracement level of the rally from the $7,425 swing low to $10,591 high might also provide support.

Therefore, the $8,500 support is likely to act as a major support. If the price fails to stay above $8,500, it could move back into a downtrend.

Looking at the chart, bitcoin price is clearly trimming gains and approaching a few key supports near $9,000 and $8,600. If it fails to stay above $8,500, the recent rally could completely reverse in the coming days.
 

Technical indicators

4 hours MACD – The MACD for BTC/USD is slowly moving in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is moving lower and is close to the 50 level.

Major Support Level – $8,500

Major Resistance Level – $9,500

 

Aayush Jindal

David Ogden – Http://markethive.com/david-ogden

JESSE POWELL – Crypto Pioneer On A Mission

JESSE POWELL – Crypto Pioneer On A Mission

 

Jesse Powell, a pioneer, and innovator, is public-spirited with a compassionate outlook and says he has an aversion with bullies and people abusing their power. Jesse Powell is the founder and CEO of numerous organizations, including the founder and CEO of Lewt, Inc., that delivered services for assisting players in online-based video games with account management and in-game currency, from 2001 to 2011. He also founded Internet Ventures & Holdings, which also provided services to the online gaming community. In 2007 he started the Verge Gallery & Studio Project in Sacramento and took a board seat in 2010. 

Jesse Powell is an expert in cryptocurrencies, online/international payments, and fraud currently co-founder and CEO of Kraken, the most trusted and one of the largest Bitcoin Exchanges in the world. In May of 2014, Cointelegraph did a review of a dozen of the major exchanges. Kraken was ranked No. 1.  

 

A Long Road

It was a long road in the beginning back in 2011 when Kraken first got started. It was very early days for Bitcoin and very few people that knew about or were interested in Bitcoin, including Venture Capitalists. Jesse Powell said it was a super hard sell to get VCs interested in the Kraken project. There were basically no VCs that understood the space and very challenging trying to explain what cryptocurrency is. 

Jesse went on to say, “We basically talked to like everyone in Silicon Valley. And it was just way too early. It kind of shattered my image of what a venture capitalist is supposed to be. Which until then I kind of thought that there’s these guys that really are very visionary and forward-thinking. And they take risks on things. And it turned out like that was not actually the case. I mean, they understood a few businesses really well. But things that were kind of outside of that box were just hard for them to understand. And there actually are very few VCs that are willing to write the first check, you know? There are many people that will follow.”

Eventually, in early 2014 a few investors who were focused on the crypto space did come on board, but the rest were Crypto Angels, meaning people who bought into crypto early, liked what Jesse Powell was doing with Kraken and was willing to invest in it. 

Powell’s personal philosophy is that shareholders are often at odds with their users’ interests. He gave Facebook as an example saying, 

"Look at Facebook looting from their users to pay off shareholders. That wouldn’t happen if the users were shareholders themselves. It’s good to keep interests aligned.” 

The decision to take the crowdfunding approach with Kraken’s clients is a way to promote the interests of its users. 

“So hopefully I think people will not need to go to VCs so much in the future. You know, I think we’ll continue to see crowdfunding working", Jesse said.

 

This is a delight to hear. It seems to me that Jesse Powell is very much aligned with the Markethive philosophy about enriching and empowering the lives of users and giving the power back to the people. 

 

Good Leadership Pays Off

Since 2015, Kraken has been profitable and under the leadership of Jesse Powell, the Crypto Exchange has grown to a global team of 800 people. According to Jesse, to ensure smooth operations, Kraken must recruit the right people and develop robust processes to protect the security of the company, while ensuring that they maintain a healthy culture. 

The team at Kraken basically work because they feel they are on a mission and as Jesse has stated, 

“We didn’t start this company to make PayPal 2.0. You know, we don’t want to be in the same spot in another 10 years from now where the regulators have taken over. It’s gotten so insane that basically all the advantages of crypto are gone. And we’re just like a PayPal that does bitcoin”

Much of Jesse Powell’s experience with his involvement as a trader with Mt. Gox back in 2011 when they got infamously hacked inspired Jesse to start the Kraken Exchange in the first place. Due to the experience of the initial Mt.Gox attack led Jesse to believe the industry needs more exchanges in the ecosystem and operators doing it the right way. Hence Kraken was born with the focus of security being their number 1 priority. The company is constantly investing and keeping up to date with the latest security measures which have worked like a charm and to date, unlike most other exchanges, Kraken has not been hacked. 

 “I think this space is just going to continue to grow. So much upside for everyone in the space right now” said Jesse.

 

Leading By Example

The Kraken CEO, Jesse Powell is known for his unorthodox views and outspokenness and as an old-school, early days crypto enthusiast, Jesse has led by example, rebelling against the BitLicense and donating $2m to Coin Center to ensure regulations do not swamp the industry.

In a tweet, he commented on the New York regulators with regards to the controversial permit, known as BitLicense likening it to an “abusive controlling ex”. Cryptocurrency businesses must obtain this license to operate in New York. 

 

 

Coin Center is becoming even more important now as the crypto industry grows. They do three things: 

  1. Educate policymakers and the media about cryptocurrency technology. 
  2. Engage in policy research to develop smart regulatory approaches to questions raised by the technology.
  3. Advocate for those solutions in order to keep cryptocurrency networks open, decentralized, and permissionless. 

Coin Center is basically defending the protocol, the consumers and what is in the interest of the development of this technology on a broader scale, so they interface with regulators and law enforcement on behalf of the entire ecosystem. 

Jesse Powell stated,
“ Coin Center’s interfacing with regulators and law enforcement on behalf of the entire industry. Trying to kind of put the brakes on any unnecessarily burdensome regulation. Making sure that they really understand what the issues are. And that things are being done in a fair way that allows the ecosystem to grow. So they’re doing everyone a huge service. For us, it benefits us. It benefits the whole ecosystem just to have these guys kind of in the way. 

And also appearing as an independent kind of neutral party that’s not working for Kraken. They’re not out there pitching the benefits of a centralized exchange or anything like that. They’re just there to say, “Hey, like, let’s let this thing grow. Let’s hold off on the crazy regulations. We’ll take a risk-based approach.” They’re educating politicians and law enforcement."

He goes on to say, 
"And I think they’ve really done a lot to keep things alive, you know? To keep things from being crushed too early."

Jesse Powell, CEO of Kraken ended up raising more than $3 million in total in 2017 for Coin Center. 

Wyoming – The Place To Be

Jesse Powell was a speaker at this year’s Wyohackathon held in Laramie, Wyoming. Powell said part of the reason Kraken was the title sponsor at the event was that it was a great opportunity to bring more awareness to what’s happening here in Wyoming and to get more people involved in it. 

Furthermore, Kraken CEO, Jesse Powell noted that his San Francisco based crypto exchange is applying for an SPDI, (Special Purpose Depository Institution). He expects at least 5 to 10 people to be employed here. He says,

“It’s a great place to locate developers to, they have much more certainty here on the things that they are building if they’re building blockchain-related things, because of some of the recent bills that were passed.” 

Mission Statement by Jesse Powell – CEO of Kraken 

“We wake up every single day determined to change the world by delivering a great Bitcoin exchange. Bitcoin is more than just a new way to make purchases. It’s even more than a protocol for exchanging value over the internet without an intermediary. We are empowering people to live simply, efficiently and more connected to others. We put our clients’ best interests first and foremost. They are at the heart of our company and drive everything we do. 

We believe in having a laser focus when pursuing our strategic goals and participate only in markets where we can make a significant contribution. We quickly grasp new ideas and concepts with confidence. We are in constant pursuit of innovation and strive to consistently exceed expectations. We believe in complete transparency, deep collaboration and we never forget that people come first. Having this mindset allows us to grow and advance at a rate that others cannot.” – Jesse Powell 

Powell says he will continue to share the same vision set out by Satoshi Nakamoto, Bitcoin’s original founder. The vision is a world where the people control their own money outside of the constraints of government. 

 

Source: The What Bitcoin Did Podcast

 

 

ecosystem for entrepreneurs

 

 

David Ogden

A Crypto/Blockchain enthusiast and a strong advocate for technology, progress, and freedom of speech. I embrace "change" with a passion and my purpose in life is to help people understand, accept and move forward with enthusiasm to achieve their goals. 

 

 

David Ogden – Http://markethive.com/david-ogden

Bitcoin Price Tapped 10600 in Fourth Largest Bull Move Ever

Bitcoin Price Tapped $10,600 in Fourth Largest Bull Move Ever

For now, Bitcoin (BTC) bulls seem to have decimated the bears. As of the time of writing this article, the leading cryptocurrency is at $9,800 — up over $2,500, some 38%, in the past 36 hours. This is around $800 short of the daily high of $10,600.

This rally has gotten so out of hand that BitMEXRekt, a Twitter bot dedicated to updating Crypto Twitter to liquidations on its namesake platform, has crashed.

Related Reading: Bitcoin Price Rips Past $9,000, Now Up 20% On the Day

Bitcoin Up 40% on the Day

According to Alex Kruger, Bitcoin, as the time of his tweet, was up 42% on the day. This purportedly represents the asset’s fourth-largest gain in its history, and the largest since May 10th, 2011.

 

Alex Krüger

So, what caused this move?

The seeming catalysts vary from analyst to analyst.

But according to Gabor Gurbacs, who summarized the narratives well, there are three reasons why Bitcoin surged: 1) the latest CME’s Bitcoin futures contract expired, something that has traditionally led to volatility, often in the upward direction; 2) President Xi Jinping of China revealed that he supports the development and adoption of blockchain technologies in China; and lastly 3) the chief executive of Crypto Capital, a firm offering financial services to industry companies including Bitfinex, was arrested, which Gurbarcs claims will allow clients of the firm to “get some of [their] seized [money] back.”

Slight Reversal Possible

While this is move is undeniably bullish, some are starting to expect a pullback. Popular analyst Nunya Bizniz pointed out that Bitcoin’s latest four-hour candle, which reached as high as $10,600 on BitMEX, is a “perfected Tom Demark Sequential 9.”

Bizniz notes that “a TD 9 typically indicates trend exhaustion,” implying that there may be some stagnation or a healthy pullback before a resumption of the uptrend.

Indeed. He added that according to Tone Vays’ take on the indicator, “we may see a one to four candle pullback (four to 16 hours) and then resume up.”

 

Nick Chong

David Ogden – Http://markethive.com/david-ogden

Bitcoin BTC Ethereum ETH and XRP Must Hold These Key Levels to Avoid Further Crypto Collapse – Technical Analysis Roundup

Bitcoin (BTC), Ethereum (ETH) and XRP Must Hold These Key Levels to Avoid Further Crypto Collapse – Technical Analysis Roundup

Technical analysts are mapping out key levels that leading cryptocurrencies Bitcoin, Ethereum and XRP now need to hold onto to avoid another rapid plunge.

Daily analyst Josh Rager says BTC’s first level of support is now around $7,120.

Due to low volume and historical precedent, Rager thinks BTC is poised to fall further in the short term, with big demand for BTC sitting at around $6,000.

“Where do we think buyers are going to step in at? Because it really comes down to supply and demand…

I do believe that we can have a nice strong bounce in between around $6,000 all the way to around $6,500. I believe that we’re going to continue to move down. Why do I believe we’re not going to go sideways and move back up?

That’s because typically you don’t go sideways for almost a month just to move down an extra 9-10% in a day… We’ll probably range again for a few days, maybe only a couple of days or maybe a couple of weeks.”

Despite the pullback, Rager says Bitcoin has not exited its overall uptrend that began in April of 2019.

“I still think we’re in a macro uptrend. If you were to look at the chart and look at the monthly and the yearly chart, you’re going to notice that Bitcoin is in a strong uptrend and we should continue to uptrend over time. But we’re going to have down markets in between.

And so whenever you have that down market, if you know how to put a short on your Bitcoin holdings toward the top, you’re going to maintain the value of what you have. And then you can just buy more at the bottom.”

Meanwhile, analyst SalsaTekila tells his 28,000 followers on Twitter that Ethereum (ETH) bulls are struggling to hold on after hitting resistance at around $163.

If bulls can’t get back above that line, he’s predicting a further breakdown.

Eric Choe, who won CME Group’s annual trading competition in 2016, predicted Wednesday’s crypto crash.

He’s standing by his forecast on XRP and says there could be a short-term bounce to $0.32 if it can hold above $0.24.

Right now, Bitcoin is down slightly while the altcoin market is seeing green.

Here’s a look at the overview on COIN360 at time of publishing.

David Ogden – Http://markethive.com/david-ogden

Bitcoin Breaks Below Bear Channel as Analysts Eye Further Downside

Bitcoin Breaks Below Bear Channel as Analysts Eye Further Downside

Bitcoin has plummeted below its previous support levels during a swift and sharp sell-off earlier this morning that led the aggregated crypto market to drop to fresh multi-month lows. BTC has continued grinding lower throughout the day and it is unclear as to where it will find any meaningful support that halts its current downtrend.

One prominent cryptocurrency analyst is now noting that it is highly probable that Bitcoin incurs further downside in the near-term, which may be driven by two critical moving averages that are “punishing” BTC’s price.

Bitcoin Plummets Below $8,000 Overnight, Sparking a Fresh Downtrend

At the time of writing, Bitcoin is trading down just under 10% at its current price of $7,500, which marks a notable drop from its recent trading range within the lower-$8,000 region – where the cryptocurrency had previously found significant support.

This negative price action today has led the aggregated crypto market to plummet, with most major altcoins mirroring BTC’s price action and dropping towards fresh multi-month lows.

Currently, Ethereum is trading down nearly 8% its current price of $160, which marks a notable retrace from its recent highs of nearly $200. Litecoin has also plummeted today, crashing a whopping 10% over a 24-hour trading period.

This latest drop came about after Bitcoin broke below the lower boundary of a bearish trading range that it has previously been caught within.

The Wolf of All Streets, a popular cryptocurrency analyst on Twitter, spoke about this in a recent tweet, referring to the chart seen below.

“$BTC: Seems support weakened. Nice bear flag breakdown,” he explained.

The next few hours and days will be critical for determining where Bitcoin will head next, as a failure for BTC to incur a relief rally in the near-term could mean that significantly further losses are imminent.

 

Cole Petersen

7 hours ago

David Ogden – Http://markethive.com/david-ogden