Connect with us

Ethereum

Ethereum (ETH) Price Skyrocketing towards $300, Can Anything Stop it?

Published

on

Ethereum is breaking through barriers left, right and center in a rally that has now dwarfed the recent Bitcoin run. The price of Ethereum surged another 17 percent today, bringing the total of its week-long gains to over 50 percent – higher than that of both Bitcoin (BTC) and Ripple (XRP). Earlier today the digital asset hit a high of $272.66, a full $100 higher than it’s price was this time last week.

Minor resistance at $270 has knocked it back down to current levels around $260 but it doesn’t look like the rally is going to end any time soon. The 50-, 100- and 200-day moving averages still put Ethereum in a strong buying position although the relative strength index (RSI) is getting pushed to breaking point levels, now up at 86.07 – extremely overbought territory.

ETH/BTC Pair

As Bitcoin’s gains subside, Ethereum is building a strong position against it. Ethereum is now up to 0.032 against the king of crypto, a huge jump from a recent yearly low of 0.024 – although still a way off from the January high of 0.041.

As with ETH/USD, ETH/BTC technicals put Ethereum in a strong buying position. Other than the SMA100 and the EMA200, the majority of moving averages support the continued uptrend and both RSI and Stochastic indicators are comfortably neutral.

What does the community think?

Sentiment in the crypto community remains strong for Ethereum, with ever-popular Twitter trader @TheCryptoDog suggesting putting 25 percent of your portfolio in ETH, along with 50% for BTC. Yesterday’s suggestion by @CryptoHornHairs to refill at $230 with the aim for $258 has panned out and next up he has $300 in his sights. Long-time crypto trader Mayne (@Tradermayne) agrees, tweeting a graph with the simple message: “Next stop for $ETH about $300”.

Graph By @TraderMayne

$300 is a significant resistance point as it corresponds with the level that Ethereum lost support at back in early September last year. If it can break through $300 and maintain momentum above it, then the sky’s the limit.

Ethereum is currently trading up 16 percent today at $262.61 to the U.S. dollar with a market cap of $27.86 billion.

-News Source

Bitcoin

Cryptocurrency in Australia: types and regulations

Published

on

Cryptocurrencies have become way more accessible across the world. While most governments want to capitalize an all the benefits of cryptocurrencies and blockchain there are security concerns that haven’t been fully solved yet. While the decentralized and unregulated nature of cryptocurrencies is what is most appealing about the technology when it comes to the statewide adoption and mainstream access of this sort some regulations usually do apply. 

Australia has been slowly establishing itself as one of the more crypto-friendly countries where these currencies remain largely not regulated. There are the basics of cryptocurrencies in Australian, based on an opinion of Australian financial expert. Given the fact that cryptocurrency is becoming more and more popular, Australian authorities have been trying to find the middle ground with their approach to cryptocurrencies. 

Available cryptocurrencies in Australia

Bitcoin – the most famous and widely adopted cryptocurrency. Its users use computer-intensive software to validate transactions that occur through the network and earn new bitcoins in the process. This particular cryptocurrency has experienced a lot of highs and lows but still remains the most widely recognized cryptocurrency. However, at the same time, Australia has its own important legislative features of the use and regulation of Bitcoin.

Ethereum. Probably the second most well-known cryptocurrency is Ethereum. While most cryptocurrencies are wildly damaging for the environment Ethereum team is one of the few in the crypto world that has been actively working on decreasing these effects and work towards making crypto mining less energy costly.

Litecoin is an electronic payment system like bitcoin, but in the Litecoin’s case the transactions are processed faster and they are generally larger quantities of Litecoin compared to bitcoin, with some crypto users perceiving Litecoin and the “lighter” version of bitcoin, sort of like the backup.

Ripple – this one is a protocol that complements Bitcoin. Ripple allows real-time transfers in any currency. In the Ripple database, the users can store and transfer value in any currency.

Regulations 

In April of 2019, Australia introduced the new regulations according to which, Digital currency exchanges with a business operation located in Australia must register with AUSTRAC and meet the Government’s AML/CTF (Anti-Money Laundering/Counter-Terrorism Financing) compliance and reporting obligations. 

Australia has faced quite a few crypto crimes and since the government wants to incorporate this technology and use it to enhance the day to day lives of its citizens the officials have to take necessary precautions to prevent crime as much as possible. Currently, there are thee licensed exchanges, BTC Markets, Blockbid, and Independent Reserve. 

Tax

Australia also has a taxation policy when it comes to cryptocurrency. But if your digital currency is less than $10000 and you’re using it for personal services then you won’t be taxed. In all other cases, you will have to pay tax. If you hold digital currencies as investments then you will have to pay tax on any profits when you sell them. If you use cryptocurrencies to pay for business expenses then the transactions will be subjected to goods and services tax. 

For those mining bitcoin, any profits that you make will be included in your assessable income and if you are exchanging cryptocurrencies you will pay income tax on the profits and the transactions will be subject to GST. So taxations are definitely somewhat strict and will probably not change in the near future. 

So if you’re considering getting into cryptocurrency its good to know ahead of time what to expect. But Australia is still one of the most crypto-friendly countries out there, that is setting an example for those who wish to engage more with this technology since the response from the consumers has been great and there is so much potential beyond cryptocurrencies in the blockchain technology. 

What people like any cryptocurrency can still be maintained with the carefully crafted system of regulations that would make the process safer for everyone involved without imposing crazy restrictions that would take away all the perks that this technology offers. While cryptocurrencies have proven to be very convenient, they have also caused a lot of trouble. 

Some experts say that this is largely due to the fact that the industry is still pretty new. Within the following years, we will probably see a major improvement in the security systems concerning blockchain that will make it easy for countries to encourage the use of cryptocurrencies with more confidence while allowing for the first time transparency and decentralization that would change the financial systems and many other industries for the better.

Continue Reading

Ethereum

Ethereum (ETH) Price to Hit $190 After Double Bottom on Weekly RSI: Crypto Forecasts Selection

Published

on

Cover image via 123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The second biggest crypto currency Ethereum has been mostly bearish recently apart from a couple of short bullish reversals. The Istanbul hard fork implemented into the network on December 8 makes the community hope that Ethereum will soon recover its positions both as blockchain and cryptocurrency.

Despite the fact that Ethereum’s rival Tron is doing much better at the moment and is expanding all the time, the TRX price is not showing any bullish signs. ETH remains on the second place in top ten no matter what, though.

Some crypto analysts believe that the ETH price is likely to turn bullish soon. 

ETH price to cross $190

The analyst and trader @IamCryptoWolf writes that presently ETH is trading below the WMA50 (the same situation happened in late 2016, he points out). In order for the price to reverse and turn bullish, it needs to reach a double bottom on the weekly RSI. Then, the expert says, a bullish candle will let ETH surge above $190.

Image via Twitter

‘Bullish AF’

Another trader who goes under the name @cryptodude999 on Twitter, has put his thoughts on the short-term ETH price laconically.

Ethereum’s future looks bright

In today’s article on Medium, the team of the OKEx exchange has summarized the situation Ethereum has been this year. The authors point out that the second largest platform has been underperforming Bitcoin.

However, with the appearance of DeFi (decentralized finance products) the market expectations regarding Ethereum have changed for the better and it may start competing with Bitcoin as a store of value.

The article says:

“DEFI COULD ALSO PAVE THE WAY FOR ETHEREUM TO STRENGTHEN ITS STORE OF VALUE CHARACTER. WE EXPECT THIS SHIFT TO BECOME MORE EVIDENT IN 2020, ALONGSIDE THE RAPID EXPANSION OF THE DEFI MARKETS.”

The authors also believe that the rising enterprise interest in DeFi, especially in the banking sphere, could also be positive for Ethereum in the future.

News Source

Continue Reading

Ethereum

Ethereum price analysis: ETH/USD continues to trend in a downward channel formation

Published

on

  • ETH/USD bears are looking to drop the price below the Bollinger Band.
  • The Relative Strength Index (RSI) indicator is trending around 34.35.

ETH/USD daily chart

fxsoriginal

ETH/USD failed at the $150-level this Monday and has strung together three consecutive bearish days as it trends in a downward channel formation. This Wednesday, ETH/USD dropped from $145.85 to $143.25. The 20-day Simple Moving Average (SMA 20), SMA 50 and SMA 200 curves are floating above the price. The 20-day Bollinger Band has narrowed, indicating decreasing market volatility. The Relative Strength Index (RSI) indicator is trending around 34.35, while the Elliott Oscillator has had seven straight green sessions. The Moving Average Convergence/Divergence (MACD) indicates decreasing bullish momentum.


 

  • ETH/USD bears are looking to drop the price below the Bollinger Band.
  • The Relative Strength Index (RSI) indicator is trending around 34.35.

ETH/USD daily chart

fxsoriginal

ETH/USD failed at the $150-level this Monday and has strung together three consecutive bearish days as it trends in a downward channel formation. This Wednesday, ETH/USD dropped from $145.85 to $143.25. The 20-day Simple Moving Average (SMA 20), SMA 50 and SMA 200 curves are floating above the price. The 20-day Bollinger Band has narrowed, indicating decreasing market volatility. The Relative Strength Index (RSI) indicator is trending around 34.35, while the Elliott Oscillator has had seven straight green sessions. The Moving Average Convergence/Divergence (MACD) indicates decreasing bullish momentum.

News Source
 


 

Continue Reading
Open

Close