It Is So Close To See The Stellar Bull Run
Last couple weeks had been remarkable for Ripple. Yet the end of the seven-day streak may have lead to a minor recession in the general advances made by the cryptocurrency. XRP is still up and is likely to continue bewildering.
Bearing in mind the bombshell news about Ripple’s xRapid platform likely being released to start contributing banks within the next couple of months, XRP’s advancement is relatively expected. After the announcement, there was an implausible bull run that had the currency—at one point— USD $0.70 per coin which reached all the way up to six-month highs.
But the communal is always trying to find the next huge bull run. Ripple’s value looks as if it has largely festered from the time when the foremost boom it reached. Other cryptocurrencies that might be knotted to the value of XRP are the new objective of mass conjecture as customers and investors in the upward crypto markets look to recover some of their losses.
XLM, or Stellar is the main coin which is drawing the interest of speculating analysts in the crypto space. Stellar is a company that intends to do something mainly parallel to what Ripple wants to do; they are working to create a scalable ledger system to maximize efficiency in transacting between major banks in the traditional financial realm.
Predictors argue towards a longstanding tendency that within next few weeks, XLM naturally will follow just behind its participant in value as a proof that it is likely to practice a parallel bull run.
Advantage of The Stellar
According to some experts and their analysts within the crypto field, Stellar has a strong benefit in marketability over Ripple. Whereas Ripple is specifically made-to-order to work with traditional banks in the traditional finance field, professionals say that Stellar is exclusively suited to work with Initial Coin Offerings (ICOs) and Decentralized Applications (DApps). This double functionality is one of the core mechanisms of the Stellar appeal, and it might just be the object to stand out that permits the coinage.
Stellar has also assertively endeavored to place itself in a limelight beside Ethereum. Both platforms could be a chief benefit for the DApp and ICO conception process, though Stellar claims an imposing list of exclusive welfares, including low transaction fees, pre-made decentralized exchanges, and fissionable transaction capability.
The vast submission of the technology is clearly one factor that could push XLM to new heights, while Stellar is clearly still has a long way form taking Ethereum’s spot as the preferred among cryptocurrency developers and blockchain.
Regulation and Stellar
Regulation is a major concern for all cryptocurrencies. Stellar seems to have a comparatively close lock on the supervisory, regulatory efforts by leading bodies within its authority. The Stellar Foundation has kept its intention relatively straight—and out of the court room, while Ripple has been enforced to ward off many endeavored proceedings from furious investors who had lost money investing in their token.
While this does not necessarily mean that the currency does not have to concern about governing movement in the coming months and years, nonexistence of clear attack from litigators is a progressive indication for the future of the currency in a legal nimble.
Moderately often, Stellar’s team is also disreputable for coming out with updates to their platform. The development team for the Stellar Foundation has released information on at least three main updates to be supplementary to the long list of functions on the network in the last quarter of 2018.
First of all , Stellar’s developers are working to draw near to other cryptos on the market with the operation of state channels. Under a state channel, users are capable to perform their own transactions without having to do them on the actual Stellar blockchain. This is stereotypically used when the expenditures being established are not old-fashioned forms of transactions.
Stellar is also planning to implement a beta for its new lightning network possibly more exciting for the tech-oriented professionals on the blockchain. The lightning network is a distributed ledger solution which permits for much faster and well-organized transactions to befall at an advanced volume. The lightning network could effortlessly make the Stellar blockchain meaningfully more effectual than it already is, of course in theory.
Captivatingly, the new updates will also contain the live, non-beta version of the Stellar Lightning Network. Considering that many cryptocurrency updates takes months or even years in their testing phase before hitting the true network and this is something unexpected.
Bull Run is Near
With the whole thing released by the Stellar team, it should come as no coincidence that some predictors are foreseeing an enormous bull run just before the end of this year. it is only a matter of time of course if XLM actually does plan to sustained to follow closely behind XRP.
Bitcoin Hash Rate alcanza 102 quintillones en el hito histórico de la red
Bitcoin’s (BTC) network hash rate has passed a record 102 quintillion hashes for the first time in history in a historic milestone for the cryptocurrency.
Bitcoin adds another zero to hash rate
As data from monitoring resource Blockchain confirmed on Sept. 18, hash rate, ultimately a function of how secure the Bitcoin network is, has reached a high of 102.8 quintillion hashes.
Bitcoin network hash rate. Source: Blockchain
The achievement follows a string of records for the metric this year, Cointelegraph reporting on various stages of its expansion over the past few months.
Hash rate refers to the amount of computing power involved in processing Bitcoin transactions. The higher the number of hashes, the more implied competition there is among miners to obtain the block reward.
Since December 2018, the hash rate has progressed from its recent low of 31 quintillion hashes per second, equating to the progress of 230%.
Bitcoin proponents eye price implications
Current growth has excited commentators, despite coming in tandem with a moderate decline in Bitcoin price.
As many noted, new upward action for hash rate tends may hint at future price growth. Hash rate began growing in January after several months of decline, with price then following in April.
Commenting on the current rate of growth, Lightning Torch organizer Hodlonaut said the figures spoke to underlying confidence among miners.
“Last readjustment period (2016 blocks, or around 2 weeks) increased 10.38%. We are about half way through the current readjustment period, and on track for another 11.85% increase,” he forecast.
Others have already given more bullish predictions. Max Keiser, a firm believer in Bitcoin’s prowess over altcoins, has frequently doubled down on his depiction of giant surges in both hash rate and price in the near future.
Bitcoin needs to be ‘better regulated’ before it is traded on major exchanges
Speaking at a conference today hosted by CNBC and Institutional Investor, Securities and Exchange Commission Chairman Jay Clayton said that bitcoin would need better regulation before being listed for trading on major traditional exchanges like NYSE or Nasdaq.
“If [investors] think there’s the same rigor around that price discovery as there is on the Nasdaq or New York Stock Exchange … they are sorely mistaken,” said Clayton. “We have to get to a place where we can be confident that trading is better regulated.”
Clayton’s comments come a few days after VanEck and SolidX’s decision to withdraw their bitcoin ETF proposal. Earlier this month, Clayton also said that while “progress is being made” on the bitcoin ETF, bitcoin businesses still need to address some of the SEC’s lingering concerns, citing crypto custody and the threat of price manipulation on unregulated exchanges.
Bitcoin (BTC) Crashes Below $10,000 Days Ahead Of Bakkt Futures Launch
Bitcoin (BTC) has declined well below $10,000 just before the most anticipated Bakkt futures launch. This has unnerved a lot of the bulls that were hoping for a rally to the moon by Monday. However, when everyone starts thinking the same way, it is best to think the opposite. Remember, Bakkt is “scheduled” to be launched on Sep 23, 2019.
It was “scheduled” to be launched on December 12, 2018 as well and if you had been hoping in November 2018 that $6,000 was going to hold just because Bakkt was going to be launched then you would have made quite a loss as the price nosedived to $3,130 from there in a matter of weeks. So, what does this recent crash mean in light of what has happened in the past?
The market makers were waiting for investors to enter margined longs. They gave them plenty of time to do that as the price consolidating and doing nothing much. So, they kind of forced traders into making the decision now instead of waiting to enter a trade after the breakout because these past few days traders have been made to be comfortable buying into sideways action in anticipation of a pump as we saw in the case of Ethereum (ETH) and other altcoins. Most of them entered leveraged longs on BTC/USD in the hopes of profiting off a potential Bakkt rally. Those that had their stops just below the symmetrical triangle were shaken out but there are a lot more stops to be run just yet. The market makers might want to give investors another chance to long these dips so they can trap them again.
Bullish or bearish doesn’t matter from the market makers’ perspective. They are in the business of shaking out the traders hoping for easy money in this market. As I have said before this is not legal and if someone were to do this in the stock market they would find the SEC knocking on their door. However, anything is possible in this market in the absence of regulation. If we look at the 1H chart for Bitcoin Dominance (BTC.D), we can see that it broke out of a falling wedge and is now primed for further upside.
Bitcoin dominance (BTC.D) rises when either Bitcoin (BTC) is planning on outpacing the market at a certain point or we are primed for further downside and Bitcoin (BTC) is expected to hold its ground better than other coins. In both cases, this rising dominance in Bitcoin (BTC) does not bode well for the altcoin market which has yet to experience serious pain. There are a lot of useless projects in the altcoin market and it is only a matter of time before we see a strong downtrend that shakes out most of such projects. The fact that Bitcoin dominance (BTC.D) just broke out of a falling wedge and has now begun an uptrend is a testament to the fact that recent hopes of an altcoin season were just orchestrated attempts by the big players to lure retail investors into buying their altcoin bags before the next crash.