Information: Cardano (ADA), up 150%, is the most well liked good contract coin of 2020

Information: Cardano (ADA), up 150%, is the most well liked good contract coin of 2020

In 2017 and 2018, good contracts had been seen as the subsequent huge factor in crypto.

Ethereum rallied from literal {dollars} to a peak of ~$1,400, ICOs promising evolutions in smart-contract tech raised billions, and lots of the cryptocurrencies within the top-50 touted good contracts as their killer use case.

Regardless of the promise, this section of the cryptocurrency market crashed with all the remaining as a bear market ensued.

However two years on, it seems that the good contract craze is again; crypto property within the smart-contract sector have strongly outperformed Bitcoin for the reason that begin of 2020.

In keeping with knowledge from crypto analysis agency Messari, many smart-contract cryptocurrencies have seen actually robust performances in 2020.

Under is a picture depicting the performances for the reason that begin of the yr of Ethereum, EOS, Cardano (ADA), Tron (TRX), Ethereum Traditional (ETC), NEO, Algorand (ALGO), and Vechain (VET).

Save for EOS, all the cash listed are up on the yr.

In first place is ADA, up 157 % for the reason that begin of the yr. In second place is Ethereum, up 85 % for the reason that begin of the yr. And in third is VET, up 70 % for the reason that begin of the yr.

That is spectacular: for context, BTC is up by ~25 % for the reason that begin of the yr, as of this text’s writing.

The robust efficiency of those smart-contract cash exhibits the power altcoins as a complete have exuded in 2020.

Business knowledge analyst “Ceteris Paribus” shared the under picture close to the beginning of June, exhibiting that Bitcoin has underperformed the small-cap altcoin, mid-cap altcoin, and large-cap altcoin indices by FTX.

By far, ADA is the best-performing smart-contract coin. It outperforming its contemporaries by dozens of % is seemingly associated to 1 key pattern/occasion: the launch of “Shelly.”

Shelly is a section in Cardano’s improvement that may optimize the blockchain for decentralization and performance. Because the Cardano Basis explains:

“Shelley will also see the introduction of a delegation and incentives scheme, a reward system to drive stake pools and community adoption… Come the end of the Shelley era, we expect Cardano to be 50-100 times more decentralized than other large blockchain networks.”

The founding father of Cardano, Charles Hoskinson, has been quoted as saying that the blockchain might be able to obtain 1,000 transactions per second sooner or later resulting from Shelly and different upgrades.

He added in a current interview with Messari’s CEO that this improve will permit Cardano to start to encroach available on the market share Ethereum has in good contracts.

Posted In: Cardano, Altcoins

Source: thebitcoinexaminer.com

Author: TBE


Bitcoin Price Forms Striking Correlation to Gold; What This Means for BTC

Bitcoin Price Forms Striking Correlation to Gold; What This Means for BTC

Bitcoin’s price action has been lackluster in recent times, and many attribute this to the cryptocurrency’s incredibly tight correlation to the stock market.

It appears that the cryptocurrency’s price action is growing more correlated to that of gold than that of the benchmark equities indices.

As such, where the precious metal trends next could offer investors significant insights into Bitcoin’s future price action.

One analyst is noting that he believes gold could currently be forming a clear distribution pattern, with it currently testing a breakout above the upper boundary of its channel.

If it faces a rejection around its current prices and begins declining from here, it is a strong possibility that it will see large losses due to the confirmation of this incredibly bearish technical pattern.

This could prove to be dire for Bitcoin, as its overt correlation with gold is likely to persist as global economic turbulence mounts.

It’s no surprise that Bitcoin and gold have been growing correlated in recent times. Both assets are looked upon as being “hard assets” than can be purchased to avoid the impacts of inflation and economic turbulence during tough times.

There are some underlying similarities between the two assets, despite one being digital and the other being physical – including their respective scarcity.

Although Bitcoin has a fixed scarcity of 21 million – and much less if you factor in lost coins – and gold continues to be mined daily, the precious metal has long been favored by investors due to its established history of trading like a “safe-haven” asset.

It also remains far lower than that seen by fiat currencies, whose value fluctuates purely based on actions being undertaken by central banks across the globe.

Investors appear to be taking notice of the similarities between Bitcoin and gold, as the two have seen strikingly similar price action in recent times.

One popular cryptocurrency analyst took notice of this trend, explaining that BTC has moved “lock-step” with gold over the past six months.

“BTC has been in lock-step with the price movements of gold the past six months. Looking at the two charts side by side, its rather obvious what direction Bitcoin heads next.”

Bitcoin Gold

Image Courtesy of TraderXO. Charts via TradingView

The striking correlation between these two assets may be negative for Bitcoin.

One analyst recently noted that gold appears to be forming a clear distribution pattern, which could mean that it will soon see a massive decline.

He does note that this decline could be further perpetuated by the US Dollar’s climbing value.

“Gold – Potential bearish scenario – to be confirmed. Bias still remains cautiously bullish until this starts breaking down… If dollar keeps pushing up – Gold may be due [for] a decent pullback,” he explained.

Image Courtesy of Kaleo. Charts via TradingView

If this pattern plays out as he expects it to, it could cause Bitcoin’s price to reel lower in tandem.

Source: www.newsbtc.com

Author: Cole Petersen


Latest Bitcoin Cash price and analysis (BCH to USD)

Latest Bitcoin Cash price and analysis (BCH to USD)

Bitcoin Cash has presented a notable bearish scenario as it moves into the typically low volume weekend of price action, with it languishing down around the $230 level of support.

The world’s fifth largest cryptocurrency, which famously spawned out of a Bitcoin hard fork in December 2017, has remained stable in terms of price over the past three months.

The daily 200 moving average remains a key hurdle for Bitcoin Cash in the short and medium term, with it causing four succinct rejections since the first test on April 8.

Until it can break above the 200MA the overall picture remains bearish with an eventual slide to the $204 level of support seeming likely over the coming months.

Much of the upcoming price action will depend on Bitcoin and whether it breaks out above $10,500 or breaks below $9,000.

A bullish break, coupled with the recent halving event, would bode well for the entire cryptocurrency market as profits typically flow from Bitcoin into more speculative bets like altcoins.

However, a break down in price would cause an adverse move in the value of altcoins, as traders need to move back into Bitcoin in order to liquidate back into fiat currency.

As noted in Coin Rivet’s daily analysis yesterday, the potential impact of a covid-19 second spike remains the largest threat to global capital markets due to its unpredictable nature.

For more news, guides and cryptocurrency analysis, click here.

Current live BCH pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest BCH price. Pricing is also available in a range of different currency equivalents:

US Dollar – BCHtoUSD

British Pound Sterling – BCHtoGBP

Japanese Yen – BCHtoJPY

Euro – BCHtoEUR

Australian Dollar – BCHtoAUD

Russian Rouble – BCHtoRUB

Bitcoin – BCHtoBTC

Bitcoin Cash was born out of the idea of making Bitcoin more practical for small, day-to-day payments. In May 2 017, Bitcoin payments took about four days unless a fee was paid, which was proportionately too large for small transactions. A change to the code was implemented and Bitcoin Cash was born on 1st August 2017.

If you want to find out more information about Bitcoin Cash or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started:

https://coinrivet.com/roger-ver-to-launch-crypto-exchange-on-bitcoin-com/

As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news.

Source: techheading.com


There's a Bitfinex

There’s a Bitfinex “Whale” Looking to Buy Bitcoin in the High-$8,000s

It’s been a tough past few days for Bitcoin.

After holding $9,300 for days on end, the cryptocurrency on Saturday slipped under $9,000. The leading cryptocurrency reached a local low of $8,840 on many leading spot and margin exchanges.

Many traders were caught off guard by this move to the downside.

At least $20 million worth of longs on BitMEX alone were liquidated during this drop. This adds to the approximately $50 million in longs liquidated across the past few days.

Bitcoin position liquidation chart for BitMEX from crypto derivatives tracker Skew.com

BTC position liquidation chart for BitMEX from crypto derivatives tracker Skew.com

Buyers seem to be stepping in, though, providing Bitcoin with a boost as it enters a crucial price region.

According to a crypto day trader, Bitfinex’s order book data shows that a big buyer (or buyers) is stepping in. He shared the image below to illustrate his point.

It shows that seemingly a single player or small group of players have stacked Bitcoin buy orders between $8,600 and $8,800. The orders are at such a size that the trader who shared the chart called the entity a “whale.”

Image

Bitcoin price chart with order book dominance bands indicator shared by day trader "Jonny Moe" (@Jonnymoetrades on Twitter)

Bitfinex’s order book has a strong track record in predicting Bitcoin’s directionality.

Below is a chart shared by another trader, but this time with a more macro view of BTC’s price in relation to the Bitfinex order book.

It shows that many of BTC’s rallies over recent months were preceded by strong buying support per Bitfinex’s order books. Also, each top around $10,000 was marked by strong selling support as per the order book.

Image

This historical precedent suggests that BTC may manage to undergo a relief rally.

Despite the order book data, not everyone is convinced the rally Bitcoin may see will be sustainable.

As reported by NewsBTC previously, on-chain analyst Cole Garner noted that BTC’s next “big” move is likely to be to the downside.

He backed this sentiment by citing the swelling sell-side pressure from miners, a bearish order book delta on Bitfinex, and institutions having a net short position through the CME’s Bitcoin futures.

This confluence, Garner explained, will result in Bitcoin dropping to the $7,800-8,200 range.

1/ I am massively bullish on #Bitcoin, but I think the next big move is likely [email protected] just reported the largest $BTC transfer from miners to exchanges in over a year. pic.twitter.com/Uwj4hHveyx

— Cole Garner (@ColeGarnerBTC) June 24, 2020

There is also a bearish technical case to be made.

Blockroots’ founder Josh Rager said last week that Bitcoin losing the support of the region around $9,000 could be followed to a drop to $8,500. The trader added that a move to $8,500 could make this summer “long” for bears, referencing the level’s importance.

“BTC’s range is clear. Current support that has been holding the past three weeks is the mid-range Break down here and price likely to see $8900 followed by $8500 range bottom,” Rager wrote.

Source: www.newsbtc.com

Author: Nick Chong


Information: Cardano (ADA), up 150%, is the most well liked good contract coin of 2020


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