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The best time to sell Bitcoin (BTC) was when it was trading close to $20,000 but the second best time to sell Bitcoin (BTC) is now. In this analysis we will explain why this is the perfect time to be selling Bitcoin (BTC) and not buying it. Let us first look at the weekly chart for BTC/USD. Since the creation of Bitcoin (BTC) and throughout its trading history, we have seen strong similarities between various market cycles. History may not have repeated itself but it has rhymed and very closely. One thing to observe here is that market cycles have kept on expanding throughout. This is because as more people and more money get into the market, it takes time to enter and leave. For the sake of simplicity, think of it as a bus leaving from point A to point B. If there are more people boarding the bus, it will take longer to get in and get out so there will be a delay. All of this is pretty straightforward and if there were more people entering and leaving the bus, you would be thinking that the bus is going to take longer to go from point A to point B, not shorter. Now, thinking that the bus is going to take shorter in that case would be very unreasonable. Coming back to Bitcoin (BTC), that is exactly what most people are doing. While they know full well looking at this chart that market cycles have kept on expanding, they want to assume that the ongoing cycle will be shorter than preceding cycle just because they wish it to be the case. Fortunately or unfortunately, markets do not care about wishes. If we believe that the current market cycle is going to be longer than the previous one as it should be, then we are not in the 2015 part of the previous cycle. Not being in the 2015 part of the previous cycle changes everything. It makes all the difference and it could change your bias from bullish to bearish. Let us look at the weekly chart for BTC/USD between 2013 and 2015. The part of the market cycle enclosed within the circle bears strong resemblance to what we are seeing right now. Yet most people would choose to ignore this because they want to believe the bear market is over. Even the NVT indicator at that time is flashing the same sell signal as it is now. If this scenario unfolds which is very likely that it would, we could see the price drop by at least 70% from current levels. This would make it a terrible time to be buying Bitcoin (BTC) right now as you would be down 70% on your investments. For instance, if you invested $10,000 dollars into Bitcoin (BTC), you would now have $3,000 left and for all we know the next bullish cycle could take months if not years to begin. This also makes a lot of sense also because BTC/USD has yet to break below the trend line support. So far that has not happened in the current cycle which is why this is the time to be selling and not buying Bitcoin (BTC).
Cryptocurrency prices have dipped slightly since our last markets update as most digital assets are down between 2-7% over the last 24 hours. Today, on May 23, the market capitalization of the entire cryptoconomy is around $237 billion and the daily global trade volume is roughly $77 billion. Also Read: US Copyright Office Responds to […] The post Markets Update: Bulls Show Signs of Exhaustion as Crypto Prices Taper appeared first on Bitcoin News .
Blockchain gaming platform The Abyss has partnered with Epic Games, the company that developed successful video game Fortnite
Today, early in the morning, Binance users have experienced a large lag with trade settlement and balance syncing. Some people even have lost thousands of dollars because of this glitch. ChangPeng Zhao, the CEO of Binance, said that they were already working on this problem. Read more: The Grand Re-Opening of the Hacked Binance Is Followed by a Huge Giveaway Several traders have stuck while performing the transaction, which led to unintended losses. They wrote about their struggles in Twitter. Here are some of them:   lag on webpages fixed, still a backlog on the order & balance updates, should sync up soon. https://t.co/J9vZsK4end — CZ Binance (@cz_binance) May 22, 2019 I lost almost 3 btc — seanray (@seanray_7) May 22, 2019 Changpeng Zhao blamed the lag on heavy order volumes. no time for choice of words when there are systems issues. — CZ Binance (@cz_binance) May 22, 2019 Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/
The Bitcoin ATM operator Coinme has expanded its Bitcoin purchasing options for residents in the United States to cover 21 states, the firm confirmed in a press release this week. Coinme first started selling Bitcoin in 2014, and will now serve around 2,200 locations across the nation through its existing partnership with coin kiosk operator Coinstar. It was in January this year that Coinstar first began selling Bitcoin for USD, so far restricting the feature to the US market. Neil Bergquist, Coinme co-founder and CEO, commented in the press release: “Bitcoin and other digital currencies offer unique benefits to consumers — including the potential for more cost-effective and faster remittances to family and friends… we’re thrilled to team up with Coinstar to make Bitcoin more accessible to consumers than ever before and offer a key component for the new digital currency economy.” The feature is implemented into the participating Coinstar machines and users will able to convert up to $2,500 in Bitcoin using a Coinme account. As reported the release, trades will be subject to a flat 4 percent fee. There are now more than 3,000 Bitcoin ATMs available across the US according to CoinATMRader. This easily makes the states the global leader in this space. Above the US in Canada, there are just under 700 locations making it the second biggest. Then we have Austria with 270 and the United Kingdom with around 240. Typically, cryptocurrency users have their own preferred online methods of changing in and out of assets, with the physical ATM sector nonetheless seeing rapid expansion in recent times. The Coinstar CEO, Jim Gaherity has said: “The response to being able to purchase Bitcoin at Coinstar kiosks has been extremely positive with overwhelming demand by both consumers and new retailer partners… we are incredibly pleased with this collaboration with Coinme and are eager to continue expanding to new markets in the coming months.”
Reviews on cryptocurrency exchanges have gone from being non-existent to being filled with CPM-triggering banners, to now – actually being useful. To being something that every interested cryptocurrency investor should read before investing somewhere. This article will describe the development. Back when the first cryptocurrency exchanges opened up shop, in 2011, there was no competition […] The post Guess what? Reviews on cryptocurrency exchange are useful again! appeared first on ZyCrypto.
Binance’s founder and Chief Executive Officer [CEO], Changpeng Zhao AKA CZ is suing Venture capitalist Sequoia for damaging his reputation. CZ took to Twitter to inform the crypto community about the unjust injunction and how it was an ‘abuse of process’ from the VC’s end. In 2017, when Binance was a new venture, Sequoia Capital […] The post Binance: Sequoia Capital gets a taste of own medicine as CZ ‘counter sues’ VC to make results public appeared first on AMBCrypto.
BlockchainNZ is an organisation that claims to be focused on allowing businesses and individuals in New Zealand to advance in all things related to decentralised, cryptocurrency and distributed ledger technology. They are set to work with the nation’s authorities to integrate a national blockchain strategy to enable New Zealand to get up to speed with other countries. In a bid to accelerate the growth rate of New Zealand’s blockchain industry, BlockchainNZ is set to formally ask the government to formulate a national DLT strategy that would boost the region’s blockchain ecosystem. The executive director at BlockchainNZ, Mark Pascall will testify before the New Zealand parliament economic development, science and innovation select committee hearing in Wellington next week, according to reports. The BlockchainNZ chief also plans to invite a few global experts steeped in the matters of blockchain technology, to work hand in hand with the government and create a robust DLT strategy capable of boosting the economy. Pascall has said: “We want the government to take blockchain technology seriously and produce a strategy. We can help them with that so we strike a balance between trying to plan for an unpredictable future and taking some action that could generate huge economic benefits for the country.” Up the game New Zealand has had a decent stance towards cryptocurrencies. Just as the New Zealand dollar token (NZDT) stablecoin project, Pascall has opined that the nation needs to up its game to be on the same level with other regions at the forefront of the cryptocurrency and DLT movement. The crypto space has grown past the hype stage of late-2017 without any real infrastructure or use cases and jumping on the bandwagon at this early stage will have positive implications for New Zealanders in an emerging economy. Pascall has said: “Since this year, prices and the market cap of the top 20 cryptos have surged by around 100 percent. Bitcoin, the first application of a blockchain, settled over USD 400 billion in transaction volume globally last year. That is more than Venmo, Apple Pay, or PayPal.”
‘Trust but verify’: All exchanges are required to provide mandatory API data to CoinMarketCap by June 2019 — or get delisted from the service. Will this new scheme cleanse the market from untrustworthy data?
XRP, the third largest cryptocurrency, saw huge amounts of funds being moved earlier today. XRP was priced at $0.3701, with a market cap of $15.5 billion, at press time. The 24-hour trade volume came up to be $1.9 billion out of which, ZBG contributed 6.90% via XRP/USDT pair. XRP had fallen by 7.31% over the […] The post XRP and Stellar Lumens [XLM] Price Analysis: Coins struggle to cope with bearish pressure appeared first on AMBCrypto.
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