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With the current air of challenges and throwbacks in the world of digital currency, criticism by the wall street mains have made a further dip for these struggling crypto-babies.

Big names including Bill Gates, have showed supported to blockchains and cryptocurrencies, but also claims that he can ‘short’ Bitcoin if he could.

ethereum price analysis

With such thin air revolving around, there has been a great investors rage and uncertainty following it. There has been a massive drop down of $20 billion in a past few hours. Even the top big names of these digital currencies which were better thought to be stabilized in past years have dropped down to 2 to 5 percent range.

Following these volatilities, the optimists are still advising the holders to sit tight and hang-up a little more. Despite the volatile natures, the cryptocurrencies price analysis has managed to grip a few more investors.

A former chief economic advisor to the current U.S president, Donald Trump believes in the future and sustainability of these digital currencies but doesn’t really count faith in Bitcoin, unfortunately.

The top cryptocurrencies including, Bitcoin, Bitcoin Cash, Ethereum, Ripple, Stellar, Litecoin, Cardano, IOTA, and EOS have a number of the setback to float back up to the levels.

BTC/USD

Since May 6, there has been a continuous and deadly decline even for the big names of this not-so-newly born cryptocurrencies, still babies though. Holding the cathedra, Bitcoin has caused nearly a domino effect on the rest of the currencies after its massive drop-down.

Being extremely volatile and totally dependent on its supply and demand, Bitcoin managed to hold its horses just below $9000. Following the downfall, its relief and a come-back can be expected anytime soon. BTC will only sustain stability and strength when reached above $10,000, which is a very much expected shot by the wall street mains.

But if the currency breaks again below levels $8,900, there will be a 50-day SMA drop following.

ETH/USD

Being the second popular in the line, Ethereum has managed to reach the purchasing levels gaining the attention of the market. To maintain sustainability and a reduced risk it should prevail its levels to $745 sooner. Currently resting at $693, if the levels don’t succeed then the digital currency may face another retest of 20-day EMA. Considering a close breakout of $838 previously, there is a great possibility to hit the levels by $900 too.

BCH/USD

The Bitcoin Cash has managed to break out of $1,600 which is remarkable transfer after being a low performer for quite a time. It has managed to intact half of its position at $1,400 after the trigger position of the ascending network. If the ascending continues breaking the May 06 high of $1849, it is expected to cross levels by $2000 soon.

But in case of the breakdowns, a 20-day EMA below the positions of $1,400 will indicate weakness.

XRP/USD

The Ripple has managed to hold the support and investors in between the range of $0.76-$0.93777. the fluctuations have been resting on the lower ranges lately, still, it is too early for the recommendations and endorsements here. A downside downfall for up to $0.58223 would make a pair pattern target.

The trading will be considered to be hitting between the range showing the same volatility.

XLM/USD

Stellar has been seen holding resistance at $0.48. if it succeeds its held up for the 20-day EMA, it is expected to reach the levels of $0.47766719 again. but a break during 20-day EMA will decline the levels to $0.334.

If the market is unable to pull back the currency and drag it out from its range, it is expected to enter the bounce back range for some days.

LTC/USD

Litecoin has been pushed back into the range by the bulls after a $150 dip. After a 20-day descending, hitting below the range it needs to show resistance to rally levels of $168 to sustain strength. It’s expecting a high of $184.794.

If fails to resist the decline it can hit below the levels of $141.026. due to the absence of any high probability trade setup, any recommendation cannot be advised yet.

ADA/BTC

Cardano is, unfortunately, falling below the trendlines. It has broken below the levels of 0.00003301. if the levels continue with the current downfall, not reaching levels breaking from 0.00003445, it will keep sliding down the range lower.

The lower levels should stop the hit by 0.000029 at maximum.

Resting at a weak position, the stops should be raised by half, 0.000032 and maintain the dip at 0.000029.

IOTA/USD

After a 20-day ascending support, IOTA rested strong and firm at $2.55 levels. Levels have declined by up to $2.2117 but a high of $2.9 is very much foreseen if held resistance.

If the 20-day EMA IOTA/USD pair breaks down, there will be lost major support by $1.63.

EOS/USD

For a past few days, EOS has been hitting the range between $16 and $19.67. if it attempts to break above the levels of $20, the wall street will manage to give it another push-up. They are in no rush typically here. But if the pair EOS/USD breaks below $16, it will sink to the levels of $14.495.

But until these consolidations rest, there is nothing much to be suggested about.

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What Is Tom Lee’s Latest Bitcoin Prediction?

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The so called bitcoin bull Tom Lee sees cryptocurrency market to experience a massive outflow before the cryptocurrency taxes closing. Tom Lee is considered to be an authority on the bitcoin as he is the Managing Partner and the Head of Research at Fundstrat Global Advisors. His views are considered to be quiet solid and authentic about the crypto business.

crypto news

Alongwith the above predictions Tom Lee has also very optimistic views about the crypto currencies specially the bitcoin. According to him the current positive amendments and announcements about the cryptocurrency are the main factors that can undoubtedly act as a catalysts for the growth of bitcoin in the year 2018. He further predicted that at least 3 major publicly-traded corporations would short sure issue their own native digital tokens. And this prediction has been took serious in terms of valid crypto news as three major companies have already announced their efforts within crypto-currencies.

 

There are also clear indications that all the major financial corporations might start moving towards crypto-currencies before Wall Street makes its mind to do so. The Rakuten Coin is a well elaborated example of this progress, it was launched by the Japanese e-commerce company Rakuten. All these are the positive developments in terms of crypto market which are somehow related to the previous predictions made of Tom Lee.

Facts which do not Match Tom Lee’s Prediction

Though some of Lee’s predictions were a real good shot in the past but some of his famous flops in this regard should also be considered. For example the large sell-off in Bitcoin and other cryptocurrencies predicted by him at the start of this year was a total flop. The starting price of Bitcoin this year was above $17,500 which witnessed a rapid downfall to about $6,115 by February 6th. Though prices did recover with a steady pace but it was a shock for most of the investors which ultimately broke their heart.

 

Lee’s next price prediction for Bitcoin stands at $20,000 by June this year. He also gave a target of  $25,000 for the end of 2018. Other famous prediction by Tom Lee included that the famous social media network Facebook and ecommerce platform Amazon will announce its own crypto strategy this year.

Other Examples Cited By Lee

Some other significant examples cited by Lee are as follows:

 

Line, the famous Japanese messaging announced that it is going to launch “Line Financial”. It will be a division allowing users to exchange digital currencies.

Expected use of the blockchain technology by Starbucks. Moreover Mark Zuckerberg also announce in an online post this January that his company would look into cryptocurrencies this year

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New Method makes me $140 USD in BITCOIN in two minutes at BURSTCASINO.com

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England – Next In Queue For State Sponsored Crypto Currency?

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As reported by The Telegraph, the Bank of England may support the production of a state-supported digital currency within a year. Just a year ago, the bank declared that it had commissioned a hypothetical money, RS Coin, which could be utilized by national banks to settle payments.

Currently, England’s national bank is raising the stakes, hoping to make its hypothetical idea into a feasible reality.

A research group vetted by the Bank has been examining the likelihood of a national bank-issued cryptographic money since 2015. So as to avert the unpredictability that has come to characterize Bitcoin, the digital money would be supported by the Bank of England and fastened to the pound sterling, Great Britain’s national cash. The Bank expects the research group to report back at some point in 2018 with their discoveries.

Prior to the Christmas, Dr. Stamp Carney, Governor of the Bank of England, put forth the defense for a national bank-sponsored crypto money to England’s Treasury Select Committee. Shielding the thought, he expressed that “The underlying technology is really of a fair bit of interest. We are working with it at the Bank of England.”

“I have taken an interest in discussions with the significant national banks on this issue,” he kept saying that such talks would continue in the new year. He also revealed that, over the summer, the Bank successfully executed a transaction with another bank using blockchain technology.

The Governor added that the Bank and its exploration unit are “restrained” in their approach. “In case we will apply something to the core of the system, it will need to meet five sigma quality rating.”

If the trials are successful, a digital currency banking option could make the way for instant payments for cars, houses, land, and other key assets.

However, Dr. Carney was still careful to address the confinements of a national bank-sponsored digital currency. One such frail point, he admits, is dissolvability if the currency was introduced on a public scale.

England – The Next In Line?

This disclosure makes England the most recent in an extending rundown of countries that have either engaged or endorsed their own cryptographic money.

Recently, Israel declared its own plans for the advanced shekel, the Israeli national bank’s answer for battling bootleg market purchases that include a little more than 20% of Israel’s GDP.

Back in October, Vladimir Putin put Russia on the map as the main country to declare official plans for its own particular state-issued cryptographic money, the digital ruble. Evidently, Russia is engaging the cryptoruble as a way to go around international sanctions.

Venezuela has also declared their own digital money in a comparative endeavor to moderate the effect of approvals from the United States.

 

Story credit: ccn.com

Image: Google Images

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How to Mine Bitcoins – Getting Started with Making Your Own Bitcoins

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How to Mine Bitcoins

Mining is one of the common ways to generate bitcoins. However, it requires an outrageous level of caution and awareness in order to mine coins. Else, you will wind up losing more cash than you actually mined.

The first and foremost thing to remember is to never use a single PC. This is because mining process requires an extensive amount of processing power and using only a single PC means you will have to wait for several months, if not years just to be able to mine a few coins.

This approach is only valuable when you utilize a PC for which you don’t need to pay the power charges. So, if you are still interested, here are some steps to help you learn how to get bitcoins.

Steps to How to start Bitcoin mining.

A Bitcoin wallet address is similar to having a PayPal account where you can store coins. The wallet can be stored online or locally on your PC.

In order to use a wallet, you will need to download “Blockchain” which is used to store all transaction records. The information is accessible to everyone which makes the process more transparent.

Step 2 – Join A Pool:

Mining through pools is a fastest way to get bitcoins. A Bitcoin mining pool consists of several computers connected through the internet. The network then breaks a fully assembled block into several smaller blocks to share the workload.

However, there is a risk involved in pools regarding payment.

Since a pool has only one owner, the coins are paid to the owner after mining is finished and there is always a danger that he will keep all the money to himself. To avoid this situation, make sure to choose a trustworthy owner.

Step 3 – Bitcoin Miner Installation on Your PC:

Step 3 involves installing bitcoin on your PC. If you are a beginner, it is suggested to install Kiv’s GUI miner.

Learn more about how to set up a Bitcoin miner here.

Step 4 – Logging In:

Once you have set up the Bitcoin miner on your PC, log into your pool account and enter your wallet address.

Step 5 – Worker Registration:

A worker is a sub-account within your primary pool account. You can have more than one workers running on each PC.

Step 6 – Start Mining:

The last step involves entering your worker credentials and Main Pool URL into Bitcoin mining software to start mining.

Good luck with your venture!

Tags: How to generate Bitcoins

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Bitcoin Hacked 2017, Who To Blame?

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Bitcoin trading was started since 2010 which is the source of Bitcoin’s universal myths or discussions. When a Bitcoin exchanged gets hacked, financial media considers this hack a result of the flaws of cryptocurrencies. Until now, Bitcoin protocol has never been hacked. Due to its next level encryption, hackers do not attack Bitcoin directly. Instead, they manipulate the weaknesses of Bitcoin exchanges.

Are Bitcoin Exchanges Vulnerable To Hacking?

According to the report of the U.S Department of Homeland Security, one-third of Bitcoin exchanges were hacked between 2010-2015.

A South Korean exchange ‘Bithumb’ was hacked last month with 30,000 customer’s data on it. The hackers were able to steal $1million worth of bitcoins. As a result, the price of Bitcoin dropped about 3.5% during the following two days of the event.

Bithumb revealed that employee’s computers which provide the access to customer’s data were targeted during the attack.

In August 2016, Hackers successfully took 120,000 Bitcoins, worth $65million from Bitfinex exchange. In that case “Hot wallet” feature was the weak link. These frequent Bitcoin exchange hacks are no doubt concerning, but this should not be a reason to dismiss Bitcoin usage.

For example, if a diamond jewelry shop is successfully robbed, it’s not the diamonds’ fault, rather the security management that was hired by the owner. Same is the case with the Bitcoin code users.

Why Has Bitcoin Itself Never Been Hacked?  

Bitcoin codes use a network security protocol known as SHA-256. SHA: Secure Hash Algorithm. This is the prime reason why Bitcoin is known as a cryptocurrency. SHA-256 is widely used by the government and financial sector of the Bitcoin and was designed by the National Security Agency.

Crypto experts and programmers believe that SHA-256 is unbreakable by the currently available technology. Chris Wilmer, founder of Blockchain-Focused said, “Bitcoin itself, and most of the other cryptocurrencies, have never been hacked or even really had any downtime.”

Due to the fact that Bitcoin uses SHA-256, and that its transactions are broadcasted to the network for confirmation, Bitcoin is the securest form of currency ever created.

Just think about it, if you have fiat money and it gets stolen or snatched by someone, it becomes incredibly difficult to trace it. In addition, a stolen bag exposes your data including bank’s check book, debit/credit card to untrusted parties and takes a whole lot of months to resolve the issue.

Besides, credit/debit is an old fashioned payment system. Considering the tools available these days, hackers could get an easy approach to this old form of digital money.

Today, the Credit card breaches have become a daily routine. The hits at Target Corp. (NYSE: TGT) and (NYSE: HD) occurred a couple years ago. Neiman Marcus and Wendy’s Co. (Nasdaq: WEN) breach is another example which just happened in 2016. The most recent ones are Chipotle Mexican Grill Inc. (NYSE: CMG), Arby’s Restaurant Group, and Kmart Corp, which happened in 2017.

Whereas, bitcoins are safe at your Bitcoin exchanges and provide maximum security against breaches. Don’t let one or two incidents define the whole currency and start your Bitcoin venture right now!

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