Tag Archives: bitcoin

Grandmas On Lightning

Grandmas On Lightning

Is Bitcoin truly inevitable? Or too confusing to ever gain mass adoption? One day, the Lightning Network might provide an answer.

Is Bitcoin Too Hard To Understand?

I’ve spent a huge part of the last three years explaining Bitcoin to general audiences and the most common form of resistance I encounter is: “Bitcoin is too complicated. The masses will never understand it.” It’s a fair argument. Bitcoin is complicated and if you want to reach a competent understanding of the big picture then, at a minimum, you’d better get ready to learn about peer-to-peer networks, cryptography and the history of money.

It’s for this reason that I find it bizarre when I hear from friends in the space that Bitcoin is “inevitable.” There’s a belief that one day the masses will suddenly realize the merits of Bitcoin and adopt it on their own. This is certainly not what happened with me. To get to an understanding of Bitcoin I was comfortable with, I had to spend hours with articles, books, podcasts, videos and debating the concepts online. This content had to be produced by other people. Maybe if Andreas Antonopolous didn’t upload 500 videos or Nathaniel Popper didn’t write Digital Gold, then I might still have been in the crowd saying: “lol scam.”There’s a counter-belief as well, and it’s that Bitcoin is simply too complicated for mere mortals to understand, and that mass adoption will only happen when Bitcoin and the Lightning Network are so simple that grandmas can use it. In The Gates of Bitcoin, John Carvalho calls this the “Grandma’s Razor Fallacy”: the elitist belief that new tech is too complicated and we need to protect people from it for their own good. He also points out:

We’ve seen this play out over and over in Bitcoin’s 11-year story. In 2011, Wikileaks learned how to use Bitcoin very quickly after Visa, MasterCard, PayPal and Western Union cut it off because of threats from the U.S. Senate. Despite Satoshi Nakamoto himself gatekeeping and telling Wikileaks NOT to use Bitcoin to circumvent the U.S. government, Wikileaks did it anyway and it’s estimated it received some 4,000 BTC in donations. Not only did this keep it alive despite a coordinated effort to kill it financially, it gave it a treasure chest that allows it to persist until today.

Another example, and my favorite, is from 2014. The Women’s Annex Foundation (WAF) in Afghanistan used bitcoin to pay their members for their work in writing, software development and video editing. This was under Taliban rule, where women were not allowed to own bank accounts, earn a living or even go to school. Incentives are a powerful thing. When it’s a matter of life and death, people suddenly discover it’s not that hard to download a mobile app and copy-paste an address. Bitcoin suddenly becomes not all that complicated. I want to break down the idea of Bitcoin’s complexity a little further. There are layers to it. Bitcoin is certainly hard to understand, but that doesn’t mean that it’s hard to use. Most people can drive a car or send an e-mail without understanding the internal combustion engine or Simple Mail Transfer Protocol (SMTP). And certainly both of these were considered “too complicated” for the masses. The very idea of “difficulty” can be unpacked further. For now, I’ll break it down into two concepts: Technical Difficulty and Perceived Difficulty.

Technical Difficulty is the skill required to execute something. Like downloading an app, or driving a car or playing the violin. You have to learn to use the tool. Designers can (partially) lower the skill required by creating user-friendly tools. But they cannot eliminate it. Yet when we look at the number of people who can drive cars and use social media, we see that millions of people, including grandmas, are willing to learn complex operations if you can offer them the opportunity to drive to the mall or fight with anonymous people on Twitter.

Perceived Difficulty is the psychological hurdle, i.e., the belief that something is difficult. It’s when someone says: “I don’t understand calculus, it’s too hard.” Then you ask them how long they’ve studied it and they say: “Well I haven’t tried, because it’s too hard.” Perceived difficulty shows up all the time. People will claim that going on a diet or studying for a test are “too hard” when, from a Technical Difficulty perspective, these things are easy. Don’t eat the cake, go to your room and study. The problem really is incentives. People don’t want to study. They do want to eat the cake. Getting them to change behavior has nothing to do with Technical Difficulty and everything to do with addressing why they do or don’t want to do these things in the first place. I’ve encountered Perceived Difficulty many times in Bitcoin. The most glaring times are the repeated examples where people would message me to say that they bought a large sum of bitcoin but kept it on an exchange. Every single time, I would explain that this is a bad idea, and every time I would hear back: “it’s too complicated.” This prompted me to write not one, but two articles. First, on why keeping bitcoin on an exchange is a bad idea, and second, on how to set up a wallet, both as short and simple as possible. I sent both articles to one of those people. Finally, he relented. He downloaded a wallet, backed up his seed phrase and took his bitcoin off the exchange. “Ok fine,” he told me in the end, “that wasn’t so hard.”

With Lightning, we might eventually be able to take the Technical Difficulty of using Bitcoin all the way down. On the Lightning Network you don’t need to think about blocks, confirmations or fees. As the network matures, you may not even have to worry about channels or capacity either. And with products like Strike, you may not even have to know that you’re using Lightning at all. The dream of Lightning is to eventually provide a dead-simple user experience that still gives people the freedom and autonomy Bitcoin is known for. But even if that experience became available tomorrow, the Perceived Difficulty would remain. The good news is that Perceived Difficulty is ultimately a culture. When I was a kid, using a computer was considered so abstruse you needed a “computer course” to be considered competent enough to use one. Today, you are considered functionally illiterate if you cannot use a computer by age ten. But that culture doesn’t change on its own. We need to change it if we want Bitcoin to be all that it can be for those who need it. We need to alter the perception and align the incentives. And then, one day, we’ll have more grandmas in Bitcoin. If you want to see what that looks like, read up about Hodlonaut’s #LNTrustChain. John Carvalho was there (#115), I was there (#171), Bitcoin Magazine was there (#235) and a lot of people who said Bitcoin is too complicated weren’t there.

Article Produced By
Imran Lorgat

Imran is an Actuary in the reinsurance sector who’s worked in South Africa, Europe, and the Middle East. He loves writing about Bitcoin, personal finance, and travel. You can read more of Imran’s writings on imranlorgat.com All views expressed are Imran’s own and neither reflect nor are influenced by the views of affiliated companies.



Trump urged US Treasury Secretary to “hunt” Bitcoin

Trump urged US Treasury Secretary to “hunt” Bitcoin

At the time, according to John Bolton’s memoir, Donald Trump asked Treasury Secretary Steven Mnuchin to restrict the trading and sale of the Bitcoin internet currency.

Mnuchin should not be demoted to a “trading negotiator” of the cryptocurrency, the US President is said to have told him. Rather, he should “track” Bitcoin for fraud. The Trump administration, to which Bolton belonged at the time, has always been skeptical about cryptocurrencies. New guidelines for trading and selling digital currencies were issued earlier this year. Steven Mnuchin said in February 2020 that they want to make sure that technology continues to advance in his country. On the other hand, the coins should not be used like Swiss secret number bank accounts.

Article Produced By
 Bitcoin News source since 2012

Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest. Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.



Bitcoin Hater Peter Schiff Says Dollar Approaching ‘Wile E. Coyote Moment’G

Bitcoin Hater Peter Schiff Says Dollar Approaching ‘Wile E. Coyote Moment’G

Today the price of gold hit a new record-high at $2,008 and the asset is now in the price discovery phase. 

The precious metal appears to be rallying due to the declining U.S. dollar and this could also positively affect Bitcoin (BTC) in the medium-term due to the correlation between the two assets. In trading, the term price discovery refers to when an asset’s price surpasses its previous all-time high. Given that gold is now seeking a new peak, and its momentum remains strong, traders expect that the asset will continue to appreciate until a clear resistance level is established.

A weak dollar is good for gold, and possibly Bitcoin

According to Peter Schiff, the chairman of SchiffGold and a well-known gold advocate, the weakening dollar has pushed gold upwards. Sc

hiff said:

“The price of #gold is now above $2,000 per ounce for the first time ever. For now, the significance of the dollar's record low is lost on the vast majority of investors. But as thousand-dollar milestones fall like dominoes the gravity of the problem will be more widely apparent.”

In recent months, the value of the U.S. dollar has fallen substantially in comparison to other top reserve currencies. Consequently,this boosted alternative and safe-haven assets, including gold.s Cointelegraph reported, industry executives believe a weakening dollar could also strengthen the price trend of Bitcoin. OKEx CEO Jay Hao, trader Scott Melker, and researcher Mark Wilcox said the drop of the dollar benefited Bitcoin. Pinpointing the inverse correlation between the US dollar and Bitcoin,

Melker said:

“Bitcoin is the blue line. The dollar is the grey line. See the inverse action?”

Over time, Schiff emphasized that gold could continue to see an explosive rally as the dollar’s decline rattles investors.

Schiff added:

“No one seems worried about the falling dollar. That's likely to remain the case until the fall becomes a crash, which I don't think will begin until the Dollar Index breaks 80. At its current rate of decline that level could be breached before year end, perhaps by election day.”

Similar factors are seemingly buoying investor sentiment around gold and Bitcoin. In the near-term, due to rising virus cases and investor uncertainty, analysts are bracing for a gloomy trend for the dollar. The confluence of the recent correlation with Bitcoin and gold, and the falling dollar could benefit BTC heading into 2021.

Is Bitcoin really digital gold?

Researchers at Cryptowat.ch, a market data provider, recently explained that gold matches many of the features exhibited by Bitcoin, except BTC has additional unique characteristics like portability and transactability.

The researchers said:

“In terms of traits as money, gold matches Bitcoin in the categories of fungibility and costliness to forge.”

Since Bitcoin price reached its peak in 2017, the perception of the digital asset as a store of value continues to improve. As gold surges to new highs, Bitcoin is receiving more interest from institutions and continuously being associated with gold. These are all factors that could positively impact BTC price in the medium-term, especially considering BTC’s 24% rally in the past month.

Article Produced By
Joseph Young

Joseph is a web developer and designer, writer and a passionate musician who loves to travel often. He's worked as a researcher for a number of venture capital firms and as a freelancer designer for resorts and corporations in Korea and the Philippines.



Bitcoin can blow past $12,000 – if it follows gold’s lead

Bitcoin can blow past $12,000 – if it follows gold’s lead

Bitcoin’s Sunday surprise was a blow-off, and if similar moves by other asset classes are to go by, it was a positive move.

On 2 August, between 0400 and 0500 UTC, Bitcoin’s price dropped by 8 percent in an hour, with many expecting its breakout, which began on 23 July, to have come to an end. However, all signs point to the opposite.  Minutes after the cryptocurrency breached the $12,000 mark for the first time since July 2019, a massive surge in sell orders pulled down the price below $11,000. On some spot exchanges, the price dropped to four digits while on Binance Futures, Bitcoin hit $100,000. Given the fact that Bitcoin, in the past two weeks, has jumped from $9,000 to $12,000 and was trading at around $11,200 at press time, the 2 August move was minor, but important nonetheless. 

Such a rapid drop is seen in all markets and is referred to as “blow-off tops” in technical terms. However, such ‘blow-off tops’ are preceded by a rapid rise in price and succeeded by a rapid decrease. Looking at the Bitcoin charts over the past two weeks, it can be observed that the rise was not rapid, but gradual. Between 23 June and 26 June, the price rose from $9,000 to $9,800 before breaking out. Only a full week after Bitcoin had consolidated over $10,000 did the move to $11,500 and over manifest. However, according to yesterday’s turn of events, it was too soon. Economist and cryptocurrency analyst Alex Kruger estimates that based on this signal, Bitcoin is in store for “Higher highs” in 2020. 

After observing yesterday’s move, drop, and recovery, it’s likely that traders placed triggers around the $12,000 mark, which when breached, resulted in sell orders, pulling the price down to $11,000 and below. Further, since the price comfortably held over $10,000 and even managed to rise above $11,000 later, stop-losses were likely placed below. The need to liquidate assets for cash is not as pressing as it was in March 2020, and most markets are, because of central bank printing, recovering. Hence, technical factors and overarching favorable macroeconomic conditions would explain why Bitcoin didn’t drop below $10,000, and why it was able to push over $11,000 in quick time. 

A comparison with gold showed a similar movement. Since central banks began employing loose monetary and fiscal policies, gold has been skyrocketing and now, XAUUSD is trading at its ATH. On 28 July, between 0100 and 0700 UTC, gold’s price dropped from $1,970 to $1,912, a 3.13 percent drop, which in the gold markets is substantial [for context, gold had one of its best trading years in 2019, rising a full 21.7 percent]. D espite the drop, trading continued and by 31 July, it regained its lost value, while on 2 August it rose over $1,980. Given Bitcoin mimicking a safe-haven asset since the March 2020 drop and its Q2 recovery, there’s reason to believe this ‘blow-off’ could push the cryptocurrency’s price higher, much as it did for gold.   

Article Produced By
Aakash Athawasya

Aakash is a full-time cryptocurrency journalist at AMBCrypto covering primarily the US market. A graduate in Finance and Economics, his writing is centered around regulation and institutional investment within the cryptocurrency space. He is also an aspiring triathlete.


Will Bitcoin Offer Currency Freedom Even After Mass Adaptation?

Will Bitcoin Offer Currency Freedom Even After Mass Adaptation?

Bitcoin is a cryptocurrency which enables the transaction of money without involving the middlemen It can be used to do

various transactions like booking flight tickets, shopping for multiple goods, and purchasing stocks. Numerous people understand Bitcoin as the speculative type of investment to transact online. It is a superior form of currency as it cannot be censored, confiscated, or inflated. However, there are numerous apprehensions in the minds of the people whether Bitcoin will be able to be the king of cryptocurrency even after mass adaptation. The price of Bitcoin was $ 3500 during the starting of the year and increased to around $10,000 this summer. It drastically crashed back to $7,000 due to the tension over whether Facebook’s planned cryptocurrency would cause the regulators and central bank to legal action against the cryptocurrency.

Do you think Bitcoin will rule even after the mass adoption?

In the recent tweet, Layah Heilpern asked, “Will Bitcoin dominate the crypto market even after the mass adoption?” Well, there are many who believe that Bitcoin could hit $100,000 per Bitcoin during the next two years, and it may reach $500,000 per Bitcoin by the year 2030. The possible reasons to believe that Bitcoin would remain the king of cryptocurrency due to its simple network and advanced technical innovations. The lightning network of Bitcoin appears to reduce its popularity in the market. But to counter this, they have developed the second-layer protocol, which offers cheaper and faster payments and retains the level of decentralization in the market. The other cryptocurrency wallets have different augmentation on the top of the wallet to make it more attractive. Whereas, in the real market, people prefer to purchase and hold Bitcoin than any other cryptocurrency because there is a digital store of value. And also, to give tough competition to the other cryptocurrency wallets, Bitcoin appears to enhance the liquid sidechain and marginal improvements and enhanced privacy.

Bitcoin vs. traditional assets: Who will win? 

While comparing the value of gold with Bitcoin over an extended period, it has been found that even though Bitcoin’s value will surpass the market cap for gold in the near future. However, gold has always been a superior store of value for different investment portfolios.Furthermore, the price of Bitcoin is not only volatile but also unpredictable. The price of Bitcoin seems to be altered by numerous real-world cases and scenarios like a mass adaptation. Still, the price of gold is affected by a change in the value of dollars in the international market, and for this reason, the gold prices are not volatile.

When Bitcoin is compared to other assets like stocks and bonds, it has been found that Bitcoin can give a higher return. It can significantly save the tax loss a person would suffer when they invest their money in stocks or bonds. However, the price volatility of Bitcoin makes it less popular when compared to the other assets. The price of Bitcoin would drastically fall due to external factors like mass adaptation, supply, and demand. Whereas the prices for the stocks and bonds would not fall drastically due to any changes in the market, its prices usually decrease by 0.5–3 %. However, if you are willing to invest in cryptocurrencies to gain more profit, then, libra-maximizers.com is the one-stop destination for your investment needs. For further information, please visit the website.

Article Produced By

David Cox



Bitcoin Retests Support Below $9k for the Second Time in 10 Days

Bitcoin Retests Support Below $9k for the Second Time in 10 Days

However, irrespective of the price, Bitcoin has been a center stage for people all over social media and has been luring many investors due to its recent hype after the Coronavirus lockdown. Bitcoin is not just a mere investment but is a power and a transition factor to act as a catalyzer in the traditional investment and financial system. It has been over a decade since Bitcoin has made its appearance as a digital asset and thereby gained enough lovers and loyalists who believe that this decentralized blockchain-based crypto will have a massive breakthrough sooner or later.

Frequently, Bitcoin is compared to the traditional stock market or the indices of the market, and investors often draw intersections before considering planning in either of the avenues. Moreover, it is observed that the stock market and Bitcoin are drawing correlation since the Pandemic outbreak, yet crypto is seen standing fair support. If we understand a practical approach of trading, which is nothing but buying and selling, similarly, trading in stocks or Bitcoin is nothing but a human activity. Trading in Bitcoin or stocks is in common parlance a human activity and cannot be dissociated based on trading factor but can be distinguished based on fundamentals.

Bitcoin Price Analysis

On the given hourly chart, BTC is seen rising from the recent bottom when the greatest cryptocurrency by market cap retested support below $9k. However, Bitcoin appears holding strict support at $8.9k and has rebounded twice in 10 days from the given support. At the press time, BTC was trading at 9,167.82 against the US Dollar and held no support from 50-day and 200-day MA over the past 7 days. After rebounding from the first fall, Bitcoin tested massive resistance around $9.8k but failed to hold a persistent bullish crossover and plummeted gradually.

Moreover, the alts have been maintaining an amazing momentum, and few amongst the top 50 coins of the market are seen hitting a fresh 52-week high. Bitcoin has remained uninfluential for altcoins like Chainlink, DigiByte, VeChain, Verge as they exhibit complete bullish crossover over the past 10 days now. The technicals of Bitcoin are holding a bearish crossover due to recent pullback that happened in the early hours of the trading session today, and the signal line crossed above the MACD line. The RSI of BTC is at 33.82 and is seen rising from the utter selling pressure below 30. The major support is $8.9k, and a further fall will confirm the bearishness and invite sell-off from intraday traders and a HODLing opportunity for long-term investors.

Article Produced By
Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.



Will Chaos in U.S. Surge Bitcoin above $10,000 Again?

Will Chaos in U.S. Surge Bitcoin above $10,000 Again?

Since Floyd’s death on May 25 in Minneapolis, Minnesota, civil unrest has sprung up across the country.

Six states and 13 cities have declared states of emergency, and the National Guard has been called to help in 21 states and Washington, DC. We can say that the States is in the crisis now – on one hand, the Covid-19 in the U.S. has not yet thoroughly been in control; on the other hand, the massive protests over the death of George Floyd may lead to a potential influx of coronavirus cases, a new breakout may occur. And the U.S. economic recovery will be threatened again. 

Bitcoin is the Safe Haven Asset

During the civil unrest in the States and tensions between the U.S. and China, U.S. dollar price keeps a downtrend movement. And according to CBO’s saying that the U.S. will take about 10 years for economic recovery from the coronavirus crisis, Bitcoin’s status as a “Safe Haven assent” is consolidated, which can allow people to “opt-out” of the current, broken monetary system. At the press time, after failing to remain above $10,000, Bitcoin is trading around $9,550, up 0.80%. May marked the “highest monthly close on BTC in over 7 months.” So far, in 2020 BTC/USD is up 30.58% and nearly 50% in Q2 of 2020. And now Bitcoin volatiles between $9,500 – $9,600, which makes futures trading more profitable. 

How to Make Huge Profit When Bitcoin Price is Going Up

Earn passive income with Quadency trading bot. Connect Binance account and use Quadency bot for 6 months completely free. Hurry up, this deal is not around for long!Bexplus is a crypto trading platform focused on 100x crypto futures. Bexplus was established in late 2017 and registered in Saint Vincent and the Grenadines. Bexplus has offices in Singapore, Japan, the US and Brazil and is constantly expanding worldwide. Bexplus provides 100x leverage perpetual futures contracts on BTC, ETH, LTC, EOS and XRP. Traders are allowed to bet on market rising and falling. 

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Bexplus full-featured app provides you with the same experience when trading in web. You can get 24/7 price alerts and get profits on the go. All data and assets can be accessed through all kinds of devices including Windows, Macbook, Android phones, iPhones, and tablets. Bexplus app is available on Apple App Store and Google Play.

Article Produced By
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.



Bitcoin Formed a Recent Top? A New Bearish Trend is Coming!

Bitcoin Formed a Recent Top? A New Bearish Trend is Coming!

After taking another failed run at $10,000 level, Bitcoin price has shed around 5% on Monday

– declining from $9,500 to as low as $8,900, which is the first time that BTC prices below $9,000 since late May. Some believed that the decline of bitcoin this time seems to a “bear trap”, while others think it will drop to retest the $7,000 level. Let’s take a look from the technical analysis aspect. 

Technical analysis signals a mid-term bearish movement

According to Justin Kwok, the analyst director from Bexplus exchange predicted that the bitcoin market has constituted a decisive top, a mid-term bearish run may kickstart. Bitcoin has continued trading around $9,400 overnight, struggling to garner any clear momentum as its buyers and sellers both reach an impasse. On the 4H chart, BTC price broke the lower band of the Bollinger Band. In addition, the bands separated, the uptrend movement might be ending and the volatility increases. Though bitcoin price pulled back soon after hitting the lower band, the Stoch RSI is about 85 which indicates an overbought state. It signals that a strong demand for lower low may exist. Therefore, in the short or mid-term, Bitcoin market may continue a bearish run.

Bitcoin Futures Trading – Earn Money during BTC Bear Market

Earn passive income with Quadency trading bot. Connect Binance account and use Quadency bot for 6 months completely free. Hurry up, this deal is not around for long!From the prediction above, we know that Bitcoin may start a downtrend movement for a period of time, investing funds in spot trade will only cause loss but nothing else. Bitcoin futures trading can help you make profits even in the market downturn and hedge loss in spot trades. Leverage trading is the key feature in Bitcoin futures trading, which is a tool that allows traders to take profitable advantages of small price movements and multiply gains.

In addition, futures trading enables traders to buy/long or sell/short, giving traders more chance to make money from the BTC market. Different exchanges provide different leverage ratio. The higher leveraged trading can lead to massive returns, but also to equally massive losses if you make wrong prediction on the market trend. 100x leveraged bitcoin futures trading is very popular among professional traders and whale investors. For instance, let’s say that you want to invest 1 BTC in btc futures contracts with 100x leverage and going short (i.e. when BTC drops from $9,400 to $9,000). 

In bitcoin futures trading:

You will gain 100 BTC * ($9,400 – $9,000) /$9,000= 4BTC (which is equals to $36,000).  In bitcoin spot trade, you will lose $400. Bexplus Exchange is one of the world-leading futures exchanges with no spread in cryptocurrency area. It provides Bitcoin, Ethereum and Litecoin perpetual contracts and more (buy up or sell- short anytime without expiration) with 100x leverage. Added 100x leverage, you can purchase 100 BTC contracts with only 1 BTC as margin. Stop-profit a stop-loss can also be set to lower the risks.

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To deposit BTC in the Bexplus account, you can earn 100% BTC bonus, which can also be used to trade futures contracts. The more deposit, the more bonus you will get. You can get up to 10 BTC as a bonus! Enjoy an anonymous cryptocurrency betting & casino with 20+ cryptos available and get a generous Welcome Package up to 7 BTC! Use promo code CPTCN1X to get 125% on your first deposit!CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Article Produced By
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.




Bitcoin Price Analysis: Decision Time Facing Now Huge Resistance Area – Hidden Divergence?

Bitcoin Price Analysis: Decision Time Facing Now Huge Resistance Area – Hidden Divergence?

trading area that followed its price action for quite some time. Bitcoin is known for its volatility and does not tend to stay at one place for long, or trade at a tight range of 3-4% for days already. As we can see on the following 4-hour chart, the Bitcoin price is forming a giant symmetrical triangle for almost a month. This triangle apex is expected sometime in the next week; however, a breakout can occur at any time, usually before the apex itself. Anyways, a decision has soon to be made, also judging by the declining amount of trading volume.

What’s Next?

Symmetrical triangles have chances to break either way. However, we need to keep in mind that Bitcoin is now facing the top angle of the triangle as resistance, along with the $9400 mark, which had been a tough resistance for Bitcoin over the past week. Looking at the 4-hour RSI, we can identify a hidden bearish divergence, whereas the price is going through lower highs while the RSI indicator is going through higher highs. This might indicate on an upcoming bearish move. Another thing to keep in mind is the correlation between the Bitcoin price and the markets. Bitcoin might be waiting to see how Wall Street futures would open (Sunday afternoon U.S. time) and act accordingly.

Key Support and Resistance Levels

As mentioned above, the first significant resistance now lies at $9400, along with the triangles upper trend-line (marked blue on the 4-hour chart) and the 50-days moving average line (the pink line). In case of a breakout, we can expect Bitcoin to reach $9500 – $9600 quickly. Further above lies the daily chart’s yellow descending trend-line, currently around $9800. From below, the first significant support level is $9200, followed by $9130 and $9000. Further below lies the $8900 – $9000 area, which is also this week’s low. Total Market Cap: $265.8 billion, Bitcoin Market Cap: $172 billion, BTC Dominance Index: 64.8%, *Data by CoinGecko

Article Produced By
Yuval Gov

Yuval Gov has over 15 years of trading experience in the stock exchange, graduated from TAU – Economics and Management. Fell in love with the crypto space. Does Crossfit to get away from FOMO.



Bitcoin Realized Cap Hits New All-Time High — What This Means For BTC Price

Bitcoin Realized Cap Hits New All-Time High — What This Means For BTC Price

Bitcoin has just recorded the highest realized cap since the March 12 market crash.

This is according to on-chain data from the data analysis platform Glassnode. The current realized cap stands at $106.63 billion, slightly higher than it was just before the market crash. This is further confirmation of Bitcoin’s recovery from the March crash which affected its price significantly. A recent Coinmetrics report shows that Bitcoin has shown impressive recovery since then and the same pattern has been observed on the Ethereum network. On 1 June, Bitcoin’s market capitalization returned to over $187 billion which was just below the February high before the crash. Bitcoin’s realized cap which is the value of all coins at the price they last transacted on-chain is another indication of this recovery. That it is reaching a new all-time high now means more money has been flowing into the asset, and that people are developing more interest in it as an investment option, according to Marty Bent’s newsletter in February when the realized cap was at an all-time high.

What this means for price

The realized cap has just reached a new all-time high, the market cap has also shown major recovery from the effect of the crash, but how does this affect the price of the asset? There is no clear correlation between price and a rising realized cap. However, Bitcoin realized cap saw a massive increase between mid-2017 and early 2018. This coincided with the biggest bull market in the history of the asset.While it is not clear where the price will go following this new all-time high realized cap, there have been predictions that Bitcoin is likely to go higher in the coming weeks as money continues to flow into it as indicated by the realized cap. The asset is currently trading at $9,384 after dropping from over $9,500. It has however managed to sustain the $9,000 price level for some time now although it has not been able to stick above $10,000.

Article Produced By
Ponvang Bulus

Ponvang is a cryptocurrency enthusiast, investor and writer. He's particularly interested in trending issues in the crypto space both technical and financial and loves to write about same.



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