- Ethereum atraded at $13 for a couple of seconds.
- ETH/USD is poised for more losses.
ETH/USD is changing hands at $85.18, down 16% in recent 24 hours. However, there was something flimsy happening with the third largest coin on Thursday eve. ETH/USDC briefly dropped to $13 on Coinbase Pro market, causing panic among the exchange customers. Traders took the matter to social media sharing the pictures with abnormal price movements, most likely triggered by algo-trading bots. Coinbase issued a refund for investors who incurred losses due to the flash crash.
“We’re aware of price movement on one of our order books that happened over the course of regular trading activity. Over the past 24 hours, all Coinbase platforms have operated as planned and no system-wide incidents have been identified,” the company wrote on Twitter.
Ethereum’s technical picture
Currently, ETH/USD is changing hands at $84.60, off the early Asian low touched at $82.15. A sustainable break below $100 handle sends an ominous signal to the market and brings $50 into focus. While the coin is oversold both on a weekly and a daily timeframe, there are no signs of reversal as of yet. Daily RSI (Relative Strength Index) points downward, while the recovery is capped by DMA5 at $99.00.
The coin is one of the biggest losers among top-20 cryptocurrencies: ETH/USD peaked at $1,1421 on January 13 and lost 94% of its value since that time.
ETH/USD, the daily chart
Ethereum (ETH/USD) forecast and analysis on December 11, 2018
Cryptocurrency Ethereum (ETH/USD) is trading at 91. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates the presence of a bearish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.
Ethereum (ETH/USD) forecast and analysis on December 11, 2018
As part of the Ethereum course forecast, a test of level 98 is expected. Where should we expect an attempt to continue the decline of ETH/USD and the further development of the downward trend. The purpose of this movement is the area near level 76. The conservative area for Ethereum sales is located near the upper border of the Bollinger Bands indicator at level 100.
Cancellation of the option to continue the decline in the rate of Ethereum will be the breakdown of the upper border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair above 110. This will indicate a change in the current trend in favor of the bullish ETH/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.
Ethereum (ETH/USD) forecast and analysis on December 11, 2018 implies a test level of 98. Further, it is expected to continue falling to the area below level 76. The conservative area for selling Ethereum is located area of 100. Canceling the option of falling cryptocurrency will break the level of 110. In this case, we can expect continuation growth.
YouTuber’s Video Resurfaces of His Bitcoin Revolution Prediction in 2011 When BTC Was $1
In the early days, bitcoin was a niche tech toy with limited value. Few people predicted that bitcoin would rise to an all time high of $20,000, and even fewer people predicted that bitcoin would disrupt the global financial system.
One of those early believers, however, is now getting the recognition he deserves. As spotted by Redditor MATURBO, a YouTuber named Davincij15 predicted the rise of bitcoinall the way back in 2011.
At that time, bitcoin was sitting at a price of just $1 USD. There were limited software programs that allowed you to access bitcoin, and the protocol was clunky to use for anyone without decent tech skills.
Despite these shortcomings, Davincij15 recognized the potential in bitcoin. Redditor MATURBO dug through the YouTube archives from 2011 and discovered a video where Davincij15 spoke excitedly about the new payment protocol.
In the video, Davincij15 describes how bitcoin was going to permanently change the worlds of internet and finance.
Davincij15 apparently discovered bitcoin after reading an article on the then-two-year-old payment technology. That article contained a link to InstaWallet, allowing readers to send money directly to the article author. Davincij15 was amazed at the ease at which he was able to send the money. He also enthused at the concept of sending money without centralized authorities like PayPal cutting away hefty commissions.
The 3.5 minute video was uploaded to Davincij15’s YouTube channel, which had previously been dedicated to talking about gold and silver.
“I know that you probably don’t want to hear this on my silver channel,” explains Davincij15. “But I have to point out this amazing stuff.”
“I went to InstaWallet. It’s a link on the web that allows you to store bitcoin. I was able to copy it, copy his link on my iPad, and paste it into my InstaWallet, and send him money instantly.”
“I didn’t have to pull out my credit card. I didn’t have to type in my address, remember my postal code. It was instant, it was fast, there were no middle man taking a cut, a 3% cut or more, of his money that I sent him. It was just smooth and easy.”
“I don’t know how you don’t see that this is a new powerful currency that will change the landscape of the internet and probably the rest of the world.”
Today, Davincij15’s words seem basic: we know that it’s easy to send bitcoin online and we know the technology has the potential to disrupt the world. But keep in mind that bitcoin was less than $1 when he was speaking these words, and that few people had heard about the cryptocurrency at the time.
That’s why Davincij15’s words are significant.
This is the Same Guy Who Urged Users to Remove Bitcoin from Mt. Gox
Interestingly, Davincij15’s Nostradamus-like abilities don’t stop there. As spotted by Redditor mazinger-B, this is the same guy who warned people to remove their bitcoin from Mt. Gox.
On June 26, 2013, davincij15 urged users to withdraw bitcoins from Mt. Gox. At the time, nobody really know what was going on with Mt. Gox. However, the exchange – the largest exchange in the world at the time – had recently stopped accepting wire transfers from Citibank.
Davincij15 cited a news article claiming that Citibank was stopping transfers to Mt. Gox. Davincij15 saw this as a sign of the end and urged users to withdraw bitcoins from the exchange.
We know what happened next: Mt. Gox collapsed. Users lost funds. The exchange had been insolvent for months. Various hacks had drained Mt. Gox’s reserves. It was one of the biggest disasters in bitcoin history – and Davincij15 apparently avoided it.
…And the Same Guy Who Urged Users to Sell Bitcoin in December 2017
The prophetic calls continue for Davincij15. In December 2017, Davincij15 was one of a handful of bitcoin users urging investors to book their profits and avoid buying bitcoin at its current price.
You can see his video warning users of the December 2017 bubble here. The video was spotted by seomit on Reddit. It was posted on December 4, 2017.
We all know what happened next: bitcoin’s price peaked at just below $20,000. Anyone who sold in December 2017 was selling bitcoin at the top of the market. Today, bitcoin is sitting at a price of around $3,200.
For those keeping track of Davincij15’s predictions, he’s still making them: last week, Davincij15 claimed that bitcoin will go a lot higher from its current price. Davincij15 has nailed three separate predictions almost perfectly: could he be right this time too?
Tron’s Justin Sun Predicts The TRX Surge of 500% in Dapp Activities on the Network
Over the latter months of 2018, it’s been the collective effort within the investment world to get rid of the downwards trend that cryptocurrencies have been enduring. The problem is that this bearish market continues to push ahead with attempts to ease and stop it proving more than a challenge. And while it’s been a broader initiative by investors, there’s no such thing as a coin that hasn’t, in some way, been impacted.
This downward trend, or what we could regard as a drastic bearish swipe, has impacted a large number of coins, including the most prominent ones such as Ethereum (ETH), Ripple(XRP), Monero (XMR) and TRON (TRX). While these have all been undergoing some serious declines, compared to its larger cousins, TRON has proven itself highly adaptive, as well as having the potential to recover very quickly when compared to other coins.
The CEO and founder of the TRON foundation, Justin Sun, has stated that he wants to keep eyes fixed on the continued evolution of its network, in spite of any downwards trends in the market. In order to redress this point, Sun announced one of the proposed plans dubbed ‘Proposal Seven’ during late November. This initiative has its aim at increasing the energy limit within the network, as well as improving the level of support given to developers.
While introduced very recently, Proposal Seven has since undergone the approval of more than 28 of the networks judging bodies: the Super Representatives, and has faced no recorded opposition from SR’s. Among those that voted in approval are: BitGuild, dAppHouse, TheLastMe, TronSpark, TronAllianc, Alle-Exchange, Lianjinshu, JustinSunTron among a large number of other Super Representatives yet to declare.
In the wake of recieving these votes, Justin Sun made the following statement through his Twitter account:
“Proposal 7 is approved by #TRON community. We will expect 500% increase of #DApp activities after the activation of Proposal 7. #TRX $TRX”
The Super Representatives themselves have a firm reputation within the Tron network due to the crucial role they play as processors of transactions and information, but also as representatives for their voters. Those that hold any number of TRX, the token native to the network, are able to vote for the candidates that they prefer. Whoever wins sufficient votes will be able to play the role of validator within the network and govern the ecosystem . to some degree.
These same Super Representatives are then entrusted with the duty of initiating the elements of the Tron Virtual Machine (TVM). To being, each of these representatives is required to make proposals for the activation of particular features. After doing so, other Representatives will then be able to confirm the proposal based on a number of different factors.
From there, this feature will go on to be activated on the Virtual Machine, but this will only happen once it’s been passed by a 2/3rds majority of the SRs and within a time span of three days. Should the proposal is passed by less than this number, then it will be considered to be as invalid, and the feature will then have to wait longer until it can be activated or is proposed by another representative.
Nopumpnodump, a Twitterati said:
“Thats how other developers should do even in the bear market.”
Adam, another Twitterati said:
“This will bring some well deserved ovrr due organic grownth imo! #TRX”