Connect with us

Bitcoin

Should Bitcoin and Ethereum Be Crying Wolf?

Published

on

Bitcoin and Ethereum are playing games, and it is funny that nobody is calling upon them.

But, it’s hard to hate the good looking, perfect smelling, long-legged, almost divine beauties that hide just enough and show about enough.

There are problems that nobody is talking about, and these problems are everywhere. Literally, all over them, bitcoin and ethereum are not clean!

Firstly the newer blockchains or the so-called disciples to need to figure out how to govern themselves. This includes Ethereum. Then bitcoin needs to still substantiate and clear its volatility trap and we can not wait for the Singularity to happen.

Decentralized governance has not provided a valid system to replace corporate governance structures and this has reached bottleneck proportions. Second, the people who are being targeted at, really don’t know shit about blockchain, they almost hate it out of ignorance of it, then third, nobody knows if it can ever be viable or not.

Crackdowns by regulators and a growing understanding of how far most blockchain applications are from being ready for prime time have not just scared many cryptocurrency investors away, but that is not why cryptos are failing, their interoperability and their own weaknesses are. Can’t blame the haters, and the haters be like:

 

People say that the bitcoin and ethereum governance models have improved, new consensus systems that allow the tech to be upgraded continuously, with the size of the community not really mattering all that much. Like the Bitcoin Cash hard fork, crypto has a weird and vicious cycle of self-destruction.

But the bottom line is pungent and sick: Ther are more than 3,000 developers and entrepreneurs, largely men in their 20s and 30s, who in so far, have not been able to save the world. Ethereum doesn’t scale, and it won’t be able to any more than it already has, bitcoin gets clogged up, but that’s it. We need better blockchains. We need to understand that blockchain has internal issues. Learn to separate the fiction and hype from crypto.

Thanks to all the fan fiction and the loose reports that are usually against cryptos and sometimes overly fascinated with it because of the writer or reporters own lack of awareness and super loaded ignorance is why we have a problem here. The stupid problem of misrepresentation.

And all this time we thought it was the external forces when really it was all from the heart of bitcoin and ethereum. So, this time, it is you, not me baby!

source :blockpublisher.

Advertisement
Click to comment

Bitcoin

Bitcoin will drop to $3,500 before we see a major bull run, says trader

Published

on

While Bitcoin has managed to hold above $4,000 according to Coinmarketcap, one trader believes that BTC will drop to $3,500 before the next bull run.

Speaking to CCN, crypto trader known as The Crypto Dog in the community said that it’s still possible Bitcoin sinks to $3,500 in the short term, adding that market conditions haven’t changed over the last several days.

“I think we could still see $35XX,” the trader said, adding, it [Bitcoin] hasn’t changed much. It wasn’t a particularly significant move. It bounced at a clear support, but there’s been no positive reaction yet. If this support holds, I expect a sweep of the highs near $4,100-$4,140.

“Decent chance we just saw that ‘one more leg up.’ I greatly reduced exposure up here above $4,000. Waiting for $3,5XX for long entries. I’d love an opportunity to short $4,1XX, but not sure if we’ll see it,” he said.

Bitcoin’s struggle to maintain momentum is likely the reason for cautious optimism shown by traders and analysts.

Recently, technical analyst knew as DonAlt explained that we can’t safely conclude the bear market is over until Bitcoin breaks out above $4,600.

Source :chepicap

Continue Reading

Bitcoin

Bitcoin SV [BSV] Price Analysis: Bears dominate market as token’s downtrend continues

Published

on

Bitcoin SV [BSV] continued its bearish run on the back of the collective market dropping below the $140 billion mark. After two successive bullish waves in the past week, the coin market turned red.

At press time, the BCH hardfork fell against the US dollar by 1.26 percent, and was trading at $65.88. The market cap of the coin stood at $1.16 billion, trailing Cardano [ADA] by over $220 million.

Bitforex took the top spots with respect to BSV trade volume, via the trading pairs BSV/USDT and BSV/BTC. The pairs accounted for 12.28 and 12.17 percent, respectively. Other notable exchanges on the list were HitBTC, IDAX, and IDCM.

1-hour

Source: Trading View

The one-hour BSV chart showed a massive downtrend stretching from $68.71 to $66.32, with the coin dropping further below. The sole uptrend was prior to this drop when the coin rose from $67.71 to $68.71.

Bitcoin SV found immediate support at $64.55, which the coin was hovering above. The immediate resistance level stood at $68.77.

The Bollinger Bands pointed to a massive increase in volatility as the price declined. The Moving Average line indicated a bearish swing.

The Chaikin Money Flow tool showed a decrease in the money inflow to BSV tokens as the CMF line was below 0.

The Awesome Oscillator showed a significant decrease in short term market momentum, but the concluding bars being green indicated an imminent bullish change.

1-day

Source: Trading View

Bitcoin SV saw two downtrends, with the first downtrend shaving the price from $75.71 to $67.15. The second downtrend pulled the price down from $70.39 to $67.65.

The coin found immediate support at $61.72, which the coin touched in February. Bitcoin SV’s immediate resistance level stood at $75.65.

The Parabolic SAR indicated a bearish market, as the dotted lines were above the coin’s trend line.

The Relative Strength Index showed a notable decrease in investor interest as the RSI dropped down from 55.65 to 46.38, at press time.

The MACD continued projecting bearish signs as the MACD line pushed below the Signal line.

Conclusion

Bitcoin SV failed to hold on to the bulls as the coin’s price declined below the $70 mark. In the short term, the coin’s volatility was high, while the money inflow dropped. Short-term momentum was negative, further pointing to the resoluteness of the bears. In the long-term, the MACD and the Parabolic SAR indicated a bearish market.

Source. ambcrypto.

Continue Reading

Bitcoin

Bitcoin Price Drops Back Below $4K But Bull Outlook Still Intact

Published

on

  • Bitcoin failed to capitalize on a bull breakout above $4,040 yesterday, but the short-term outlook remains bullish as the higher-lows pattern is still intact.
  • A convincing break above the three-day chart resistance of $4,040 still looks likely and could be followed by a rally toward the recent high of $4,190.
  • The immediate outlook would turn bearish if prices find acceptance below $3,920 (previous day’s low). A bearish close, if confirmed, could yield a drop to $3,700–$3,658 (Feb. 27 low).

Bitcoin (BTC) has dropped back from levels over $4,000, but the short-term outlook will remain bullish as long as prices are holding above key support at $3,920.

The crypto market leader jumped to a 25-day high of $4,055 yesterday, having secured a bullish UTC close above the psychological hurdle of $4,000 on Wednesday, going by Bitstamp data. The breakout above the crucial three-day chart resistance of $4,040, however, was short-lived with prices falling back to a five-day low of $3,920 before closing the day at $3,974.

Notably, the negative price action engulfed the trading range seen in the previous four days, which is widely considered an early sign of bull exhaustion.

That said, the path of least resistance is still to the higher side, as the bounce from lows near $3,920 has left the bullish higher lows pattern intact along the trendline connecting the Feb. 8 and Mar.4 lows.

For the immediate outlook to turn bearish, the engulfing price action seen yesterday needs a strong follow through in the form of a convincing break below $3,920.

As of writing, BTC is trading at $3,980, representing a 1.28 percent drop on a 24-hour basis.

Daily chart

On the daily chart, BTC created a bearish outside reversal candle yesterday as trading began on an optimistic note but ended with pessimism.

A bullish-to-bearish trend change, however, would be confirmed only if prices close below $3,920 (low of the bearish candle) today. A move below $3,920 would confirm a downside break of the ascending trendline and shift risk in favor of a deeper drop toward the Feb. 27 low of $3,658.

On the higher side, a break above $4,055 would reinforce the short-term bullish setup and could fuel a rally toward the recent high of $4,190.

3-day chart

The odds of a rally toward $4,235 (inverse head-and-shoulders neckline) would strengthen if the current three-day candle closes (today) above $4,040, validating the bullish engulfing candle created in three days to March 16.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

 

source:coindesk.

Continue Reading
Advertisement
Advertisement
Open

Close