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10 Bitcoin Facts That Will Cheer You Up

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We all know how disappointed you are with the current bitcoin situation. We have been stuck in the bear market for long however, some experts say that we are to expect a bitcoin rise. The situation might just turn bullish. So to lift up your mood we have ten facts that are bound to cheer you up.

Satoshi Nakamoto who?

It’s good to be reminded that Bitcoin’s founder is still unknown. Nobody has been able to guess his/her identity. The only thing we have is the name, Satoshi Nakamoto, otherwise, we are still unaware of who he is, what he does, are they even a he? Or a single entity? Nobody knows! Doesn’t this curious little case blow your mind from time to time?

One of the first transaction

May 22 was the day when one of the first transactions were made and it will be remembered as Pizza day. Everyone in the community knows that Laszlo Hanyecsz’s purchased two pizzas from Papa Johns of worth 10,000 Bitcoins. Back then this much was around $40.

Bitcoin has a limit

This one might be new for many and it’s true. Bitcoin has a limit. There will never be more than 21 million Bitcoins in the world and as of now, 17 million have been mined and we are left with 4 million only. After it has reached its limit, producing new coins will not be possible.

Crypto-friendly countries

Yeap, it’s a thing. Crypto-friendly countries exist and to name a few Malta, China, India, Georgia are the ones trying to achieve the maximum level of comfortability towards cryptocurrencies.

Countries are adapting to it and the even US, for that matter, is working on creating cryptocurrency taxes. Doesn’t all of this make you happy??

10% of Bitcoin is used for crime

So according to DEA, contrary to most belief, only 10% of bitcoin has been used in criminal activity. This myth was busted by a special agent from the US Drug Enforcement Agency.

Honey Badger is Bitcoin’s unofficial mascot

Honey Badger’s are known for being tough. They can withstand terrible injuries, bee attacks, and bites from poisonous creatures. Thus this animal seems like a perfect fit as Bitcoin, too, has survived many attacks over the past years.

 

We have more digital wallets than banks

The battle of banks against cryptocurrency wasn’t enough, now they have to fight against digital wallets as well!

Bitcoin is the father of all cryptocurrencies

Bitcoin is the most successful cryptocurrency and AFTER its success, people gave birth to their own currencies. Bitcoin paved the way for many altcoins. Currently, there are 1900 tokens backed up with amazing projects.

Bitcoin is a heating system

If you have seen a Bitcoin miner, you’d know how hot it is. Mining rigs eat electricity and the consumed energy is returned in the form of heat. People all over the world use mining farms to heat their houses, greenhouses and other heat-depended places. Bitcoin is a heating system for the future.

Bitcoin is a popular choice among millennials

Cryptocurrencies are the millennial choice. After the 2008 economic collapse, millennials were tired of how things had turned out and the advent of Bitcoin is what gave them hope. They are investing in bitcoin and altcoins as they better understand the technology as opposed to baby boomers. Which is good news.

source:blockpublisher

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Bitcoin price prediction: BTC/USD confluence detector shows lack of resistance and support levels

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  • The daily confluence detector shows one healthy support level at $10,075.
  • BTC/USD has gone down from $10,110 to $10,092.

The hourly BTC/USD price chart shows us that the price dropped from $10,130 to $9,815 this Thursday. The bulls then gathered momentum before it picked up to $10,190, meeting resistance. Since then, BTC/USD has been on a continuous downtrend and is currently trending around $10,092.

BTC/USD daily confluence detector

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The daily confluence detector shows only one prominent resistance and support level. The $10,500 resistance level has the 5-day simple moving average (SMA 5) curve. The $10,075 support level has the 1-month 23.6% Fibonacci retracement level, SMA 10, 1-hour Bollinger band middle curve and 4-hour previous low.

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Bloomberg Says Bitcoin Could be Finding Support at $10,000 as Altcoins Rebound

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Yesterday, Bitcoin (BTC) suddenly slipped. After tapping $11,000 just days earlier, the cryptocurrency cratered, falling under $10,000 as bulls failed to step in.

This move was so dramatic that according to the Bitcoin Fear and Greed Index, this sudden reversal has resulted in a reading of five — the index’s lowest value in its history. This is crazy, especially considering that BTC is trading over 300% higher than its bottom price of $3,150.

Bloomberg Says Bitcoin Could be Finding Support at $10,000 as Altcoins Rebound 1

While the index’s reading may seem entirely arbitrary — just look at the bullish momentum Bitcoin has experienced in the first half of 2019 — the index is backed by data.

The website that hosts the index claims it analyses a fair mix of volatility, market momentum and volume, social media trends, surveys, dominance, and Google Trends to get the gist of how cryptocurrency investors are faring.

Bitcoin Bounces Back

But, the Bitcoin price has managed to bounce back. After remaining under $10,000 for a number of hours, the cryptocurrency managed to reclaim five digits.

Per Bloomberg, the cryptocurrency “appears to be gaining momentum for a push higher”. The analyst recently claimed that as BTC recently dropped “below the lower limit of its GTI Vera Band Indicator, which measures up and down trends”, a spike to the upside may be ahead. The last four times the bottom band was breached, “it managed to quickly rally back into the range”.

According to Mike McGlone, an analyst at Bloomberg Intelligence, Bitcoin is currently setting itself up for a recovery. He explained in a note that its “unique attributes” (likely a reference to its classification as a digital store of value/digital version of gold) and tumult on the macroeconomic stage could help boost the value of Bitcoin. Indeed, many say that if trade wars continue to rage and if central banks continue to enlist unorthodox monetary policy, the need for a form of money that is decentralized, scarce, borderless, and public will only swell.

While McGlone is bullish for the medium term, he told Bloomberg TV in a recent interview that his short and long-term prospects on the cryptocurrency are mixed.

Per previous reports from Ethereum World News, McGlone argued that with there being key support at $8,000 and heavy resistance at $20,000, the cryptocurrency could be stuck in that range “endlessly”. He added that on-chain fundamentals — active addresses, number of daily transactions, fees, and so on and so forth — have begun to taper off like they did to trigger 2018’s bear market.

Altcoins Finally Gain Some Steam

Interestingly, throughout this short-term recovery, altcoins have bounced, actually outperforming Bitcoin for once.

According to CoinMarketCap, Bitcoin dominance has fallen to 68.5% from nearly 70%. Ethereum is up 3.5% on the day, while BTC is up a relatively mere 0.2%. It’s a similar story across the cryptocurrency rankings.

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Bitcoin Vs. Ripple: Amidst the Bearish Trend, The Coins Gave Some Brief Moment of Trading

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There is a close link between the movement of Bitcoin and Ripple. Both of them are strong coins with a dedicated community of users. At present, they are facing some negative sentiments, but this will wash off soon.

Current Statistics (On August 22 at UTC 08:38):

ParametersRipple (XRP)Bitcoin (BTC)
Price (USD)0.26329929.91
ROI4,401.02%7,270.70%
Market Rank3rd1st
Market Cap11,339,553,299 USD178,409,831,940 USD
24-Hour Volume1,033,612,299 USD18,408,249,735 USD
Circulating Supply42,890,708,341 XRP17,890,087 BTC
Price in BTC0.00002654NA

BTC Vs. XRP Price Analysis:

Both Bitcoin and Ripple started on a declining note. In the first hours of the day, Bitcoin price has declined by 6.15% and fell to the level of 10,125.86 USD. Similarly, Ripple declined by 4.15% and landed at $0.2628. After that, the declining trend has slowed a bit, and coins kept fluctuating up and down in the range of around 2%. However, during the early minutes of the second half, on the other day, came yet another dip where BTC price declined by 2.21% and Ethereum by 0.96%.

BTC - XRP Price Prediction

After the second intraday breakdown, the digital coins have shown some strengthening for the next couple of hours. In that period, BTC hiked by 1.75% and XRP by 1.5%. The next plunge that came in around midnight dragged Bitcoin price by 2.91% and took it below $10k mark again. Similarly, XRP declined by 2.02% and landed at the level of 0.26 USD. Lately, the cryptos have been hovering at those levels and showed some bounce back, which helped then to move toward their current position.

BTC vs XRP Prediction & Conclusion:

Making any prediction in this swinging market is a rigorous task. However, for now, Ripple faces immediate resistance at $0.274454 and support at $0.259335. For Bitcoin, the immediate resistance is at 10,636.95 USD and support level at $9,800.93.

The Ripple team has done a recent assessment of the blockchain and assured that they will work toward the narrowing of the skill gap. Further, they added that in order to address the issue, the team would seek the help of experts including academia, governments, and private organizations.

Source.cryptonewsz.

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