The King of the Crypto-Verse, Bitcoin (BTC) is still holding steady at above $8,000 and currently trading at $8,188. According to technical analysis this morning, Bitcoin has a healthy support at a new level of $7,900 with a possibility of testing the $8,400 to $8,500 levels. These current values are a long way from what the value was over 9 years ago when Bitcoin was first introduced to us as an open source software. The earliest value comparison for Bitcoin was 10,000 BTC for 2 Pizzas from Papa John’s in May 2010. Prior to that, Bitcoin was worth pretty much nothing.
One of the first supporters, adopters, contributor to bitcoin and receiver of the first bitcoin transaction was programmer Hal Finney. He downloaded the bitcoin software the day it was released, and received 10 bitcoins from Nakamoto in the world’s first bitcoin transaction on 12 January 2009. The value of the first Bitcoin transaction was negotiated by individuals on a bitcoin forum with the famous two pizza transaction of 10,000 BTC earlier mentioned.
It is with such a premise that CNBC Fast Money’s Brian Kelly, was quoted as referring to Bitcoin as to being like the internet in the 80s with early companies such as Cisco and Microsoft trailblazing in the industry. For Brian Kelly, Bitcoin is neither a company nor a stock. This description fits the bill of what the inventor of Bitcoin – Satoshi Nakamoto – envisioned for the cryptocurrency. Satoshi wanted the users to have full control of transactions and not financial institutions.
Going back to the to the internet of the 80s, rudimentary devices such as cassette tape recorders were used to store data because the much famous floppy disk had not been designed by Steve Wozniak. Internet connection speeds were at a merger 300 bits per second if you were lucky. Current speeds range from 1.0 Mbs (1,024 Kbps) to 2,000 Mbps currently being offered by Comcast.
This means if we are in the 80s of cryptocurrencies and blockchain, the future looks pretty bright for the crypto-verse. With the added fact that hardware and software technology has been improving on a daily basis, it is safe to say that cryptocurrencies and blockchain technology is the future of global technology and finance moving forward. It is not impossible then, for the Bitcoin price predictions of $25k, $91k and $250k floating around on the web.
[Photo, first versions of the Mac. Source: cnn.com]
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The National Aeronautics and Space Administration (NASA) and Researcher at the University of Akron (UA) are researching on using Ethereum Blockchain Technology to enhance space communications and navigation.
A statement by the university revealed that Dr. Jin Wei Kocsis, assistant professor of electrical and computer engineering, received a three-year, $330,000 Early Career Faculty grant from NASA to lead a research on “Resilient Networking and Computing Paradigm (RNCP)” using the blockchain technology behind “smart contracts”.
“In this project, the Ethereum blockchain technology will be exploited to develop a decentralized, secure, and cognitive networking and computing infrastructure for deep space exploration,” the university don made known. “The blockchain consensus protocols will be further explored to improve the resilience of the infrastructure.”
“I hope to develop technology that can recognize environmental threats and avoid them, as well as complete a number of tasks automatically,” she adds.
According to Wei, the technology, if researched deeply, will give room to spacecraft to achieve more tasks and collect more data, at the same it will give scientists the opportunity to respond to environmental threats.
She, however, thank NASA for recognizing her efforts and for tendering unflinching support on her research.
Commenting on the research, Thomas Kacpura, advanced communications program manager at NASA’s Glenn Research Center, says the research is the first of its kind in NASA circle, and that in the past, the space administrator did not research on using blockchain technology to enhance space communications and navigation.
He revealed that the research “the effort would support decentralized processing among NASA space network nodes in a secure fashion, resulting in a more responsive, resilient scalable network that can integrate current and future networks in a consistent manner.”
“It is expected that the potential is high to contribute to the next generation space networks, and also allow tech transition of these algorithms for commercial systems,” he added.
Ethereum is gaining more ground day by day, the blockchain technology is receiving supports from far and wide. Hopefully, Ethereum may become the 21st century smart contracting platform going by its recent regards and collaborations.
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Here comes another big news for Litecoin. The altcoin seems to be opting for another Debit card after it announced its partnership with TenX will soon produce a debit card in the name of the two company. Just today, Charlie lee stated on twitter that another debit card for Litecoin is about to be produced courtesy of Wirex.
“Seems like another Litecoin debit card in the works. Not hyping… Just excited to see so many companies supporting Litecoin! #PayWithLitecoin”
Although there has been no official announcement from Wirex. The financial firm, tagged crypto-friendly currency account is a renounce company dubbed by many as the most famous cryptocurrency wallets provider. With about 1.5 million users in over 130 countries, the crypto wallet provider is linked with physical and virtual VISA debit cards.
Tenx-Litecoin Partnership Will As Well Produce Debit Card.
The news that Litecoin is being added to Tenx does not come as a shock because from inception, the cryptocoin is living up to expectations as the 3rd most popular coin in America, according to a survey among 1000 millennial in the country.
Mr. Charlie Lee, the founder of Litecoin and ex-Director of Engineering at Coinbase, who disclosed this information on his Twitter page, revealed “TenX recently added LTC to their wallets, and we are working with them to launch a Litecoin debit card. Stay tuned for more information. LitePay who”?
Speaking on the development, Tenx team stated their happiness on the partnership, hoping it will step up their service.
“We are also excited to announce a new partnership; we have reached out to, and are working with the Litecoin Foundation to introduce a co-branded card for which more information will be available soon. We hope to become the preferred payment platform for fans and owners of Litecoin, and cannot wait to see you use our wallet and join the revolution”
Litecoin is no doubt a great coin to watch. The altcoin is doing fantastic in recent time. One very noticeable partnership it recently made is that with eGifter, a reputable gift cards platform.
In the last 24 hours, Litecoin has been recovering. It now trades at $139 according to Coinmarketcap. The reason for the increased value could be linked to a recent announcement that it is going to be listed on Korbit Exchange, one of the oldest Korean exchange.
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Zilliqa (ZIL) is a relatively new cryptocurrency and blockchain platform project. The whitepaper is dated August 10th, 2017, therefore the project has not had time to dominate the crypto-verse like the well known coins and projects of Ripple (XRP), Stellar (XLM) or Ethereum (ETH). But the community backing the project is quite impressive. The Telegram Chat group has over 24,000 members. The project has over 28,000 Twitter followers and also 5,200 on Reddit.
So what exactly is Zilliqa and why is it relevant?
Referencing the project’s white paper, Zilliqa is a new blockchain platform that is designed to scale in transaction rates. As the number of miners in Zilliqa increases, its transaction rates are expected to increase. At Ethereum’s present network size of 30,000 miners, ZILLIQA would expect to process about a thousand times thetransaction rates of Ethereum.
Zilliqa introduces what is known as sharding. This is defined as dividing the mining network into smaller shards each capable of processing transactions in parallel. This solves the issue of scalability that plagues many blockchains. Sharding will avoid instances of congestion in the network such as the time when Crypto kitties almost brought down the Ethereum platform.
The project also proposes an improved and innovative special-purpose smart contract language and execution environment. This is a welcome idea in the dawn of the revelations of several vulnerabilities in Ethereum Smart contracts. The best case of how Ethereum smart contracts are vulnerable was seen in the Parity incident that left over $200 Million in Ethereum locked up indefinitely in the smart contract due to a user accidentally killing it.
The Testnet for the Zilliqa project is currently live. It was released two weeks ago by the development team. The development team has also distributed Testnet ZILs for the Zilliqa wallet which allows users to send and receive the test ZILs. The excitement is evident as the community awaits the final Main-net.
Market analysis puts the Zilliqa token at a value of $0.064. The total supply of the token is 12.6 Billion with a circulating supply of 7,284,013,186. With the current potential of the platform and the backing of the Zilliqa community, this value is sure to move considerably in the upward direction.
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The crypto markets are still breathing and firing on all cylinders through a weekend that was meant to test the volume that had pumped Bitcoin (BTC) on Thursday by $1,000. Some traders were skeptical that the value of BTC would maintain $8,000 during the weekend. However, BTC is still strong and trading at $8,311. The total crypto market cap has been steady at $333 Billion and seems to be headed up within the coming days.
It is with such events that there has been some bullish price predictions about the King of The Markets, Bitcoin. Fundstrat’s co-founder, Thomas Lee, has been bullish about Bitcoin all year long. His recent price prediction is that BTC will reach the value of $25,000 by December. In a CNBC interview, Lee is quoted as saying:
“We still feel pretty confident that bitcoin is a great risk-reward and we think it could reach $25,000 by the end of the year…Bitcoin was incredibly oversold [in the past]. When you look at metrics like price-to-book, which is ‘money cost,’ or our bitcoin misery index, it’s pretty much what you saw at the end of the 2014 bear market, not the start.”
The same Lee has also predicted that Bitcoin (BTC) will reach the very high value of $91,000 by 2020 based on performance of the markets after past dips. Lee has had a good streak at predicting Bitcoin’s prices as he was always bullish about the coin even when it was under $3,000 in the markets. It is such believers that make this crypto-verse exciting.
The final, and not necessarily last price prediction for the day, is by Tim Draper who has been quoted as saying that we shall see $250,000 per Bitcoin by 2022. He made the bold statement at his self-named Draper University on April 12th this year. He is quoted as saying via Reddit:
“I’m thinking $250,000 a bitcoin by 2022. Believe it. They’re going to think you’re crazy, but believe it. It’s happening and it’s going to be awesome!”
Nothing is ever crazy in the Crypto-verse. Perhaps crazy has become the norm so much so that we do not notice any additional craziness. What then is expected with a booming of Bitcoin, is a similar boom in the values of Alt coins. It seems like we are heading towards good times in the markets!
[Photo: Tim Draper. Source: ccn.com]
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It has been almost a month since Ethereum [ETH] price has seen the $500.00 level for the last time. However, since Thursday April 12, are reversing majorly in price with double digit gains in a weekly bases – ETH +30.00% in the last 7 days.
To reach today’s trading ground, the pair ETH/USD failed once on April 12 but the achieved supports of $480.00 did hold steady and made sure in any moment the important $500.00 will be broken.
As the value has overextended from the bullish trend line on the 4-hours chart at $460.00, there could be a backtrack but as long as it stays above the level we can see the continuation of this nice uptrend and it could even test the $575.00 in the very near term.
On the upside, the price must break the recent high at $530 to start a fresh upside wave. The next hurdles on the upside above $530 is close to the $575 level.
Major Support Level – $460
Major Resistance Level – $530
The Bitcoin price has fallen by roughly $100, but this isn’t necessarily something to fear or a sign of another impending bear run. The currency has spiked by approximately $1,200 since mid-week, jumping from $6,900 to $8,100 in just under 48 hours, and a small drop in the records isn’t something to get one’s hat in a twist.
Many do believe that with the start of the second quarter bulls are in line to take helm and lead the show. one of them that supports the idea strongly is Tim Draper, who recently stated that he believes bitcoin could reach a quarter of a million dollars by the year 2022.
“I’m thinking $250,000 a bitcoin by 2022,” he recently exclaimed to an enthusiastic crowd outside Draper University in California. “Believe it, it’s going to happen. You heard it here first. They’re going to think you’re crazy, but believe it. It’s happening. It’s going to be awesome.”
CEO of cryptocurrency investment platform Atlas Quantum – Rodrigo Marques, does also support the bullish wave of feels as he suggest that the last months were preparations for BTC and the following coins to come back even stronger:
“Bitcoin deflationary characteristics are an indication that in the long run, the market is bullish. We believe the price could be set to go up and has the potential to reach December 2017 levels again.”
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The cryptocurrency space has witnessed many FUDs, it has witnessed uncountable ups and downs, but it seems there is a promising future for cryptocurrencies this year. With just a two-day surge in the price of bitcoin, enthusiasts are raising trust in the cryptocurrency space, saying there is igh possibility the space receives increased boost than it witnessed last year.
One very noticeable, respected Wall Street strategist who believes that bitcoin is on the verge of tripling in price is Thomas Lee, co-founder and head of research at Fundstrat.
Mr. Lee reinvented his bullish forecasts on Thursday, April 12, while conversing on CNBC’s program, “Futures Now”. Lee says the price of bitcoin could reach $25,000 within eight months.
“We still feel pretty confident that bitcoin is a great risk-reward and we think it could reach $25,000 by the end of the year.”
Commentators have weighed in on the sudden surge in the price of bitcoin from around $6,800 to over $8000. Many of them are of the opinion that the beginning of the much-awaited bull run has started.
Lee, who also believe it is time bitcoin increased in price, made known that the time is “overdue”.
“It’s overdue. Bitcoin was incredibly oversold,” he said.
“When you look at metrics like price-to-book, which is money cost, or our bitcoin misery index, it’s pretty much what you saw at the end of the 2014 bear market, not the start.”
If bitcoin rises to $25,000, it amounts to a 225 percent increase using its Thursday value as a yardstick.
Meanwhile, the increasing price of cryptocurrency is not only helpful to Bitcoin alone. It reflects in the value of Ethereum, Litecoin, Ripple and so many other altcoins. However, none can really say what is behind the sudden increase after many months of decline. Many are of the opinion that it is just time for the cryptocurrency world to witness another sudden increment.
Ed Cooper, head of mobile at fintech startup Revolut, in a conversation with The Independent, also holds to this assertion. He said the rise “doesn’t appear to be driven by any significant news stories.”
“Most likely there was a change in sentiment today and traders started to buy thus raising the price.”
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‘Is Litecoin (LTC) dead?’ ‘No. EOS (EOS) seems to be on steroids in the markets.’ The aforementioned words were part of a conversation on Telegram between myself and one of my crypto trading buddies less than an hour ago. Looking at the markets, EOS (EOS) is holding a good lead over Litecoin (LTC) with respect to market cap. EOS has seen a 31.78% value jump and is currently trading at $8.76. The EOS jump has been gradual in the last 24 hours, unlike Bitcoin’s that has happened in a span of less than one hour. One hour that is still causing awe in the Crypto-verse.
EOS’s market cap is higher than that of Litecoin by approximately $272 Million at the moment of writing this. This lead has enabled EOS to hold the number 5 spot behind regular competitors of Bitcoin, Ethereum, Ripple and Bitcoin Cash in their respective order on coinmarketcap.com
What could be the reason for EOS’ good run in the last 24 hours?
Firstly, and with respect to Litecoin (LTC), the coin and project has been bombarded by bad news and FUD for quite sometime now. From the news that Charlie Lee had sold all his Litecoin back in December, 2017; to Charlie being accused of pumping and dumping LTC for profit. He clearly defended himself by saying that he needed to focus more on the project rather than the price of LTC in the markets.
The final nail in the coffin for Litecoin seemed to have come when Litepay did not launch on February 26th with news of a postponement. Later on the project was cancelled completely. Charlie later apologized for the Litecoin team not doing its due diligence during the Litepay project. However, all is not lost for LTC for it has since partnered with Abra but the full effects of this partnership have been diluted by the Litepay saga.
On the part of EOS, a few reasons could be pumping the coin.
Firstly, the EOS project recently released EOSIO Dawn 3.0 on Github. This is in anticipation of EOSIO 1.0 that is expected to grace the Crypto-verse in June this year. EOSIO 1.0 is anticipated as being the most powerful platform for building decentralized blockchain applications and is sure to challenge Ethereum for the title of platform of choice for Decentralized Applications and Smart contracts.
Past market performance of EOS can also be the reason behind the sudden rise of the token in the last 24 hours and its ability to dethrone Litecoin from the number 5 spot. Back in January 13th, EOS enjoyed a $18.16 value in the markets and seemed destined for great things with the backing of a large and dedicated online community.
Perhaps it is time EOS became the new Ethereum as both a platform of choice for decentralized applications and at the number two spot in the markets.
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Less than two weeks ago, Abra CEO, Bill Barhydt, had predicted that All Hell Will Break Loose in the Crypto markets once the big time investors started pumping their funds into the crypto markets. Well, perhaps Bill can now be considered a prophet for the market is all green in the last one hour. Bitcoin (BTC) has done a massive $1,000 gain in less than 30 minutes, and it has pumped the entire market with it.
Bill was quoted as saying:
“I talk to hedge funds, high net worth individuals, even commodity speculators. They look at the volatility in the crypto markets and they see it as a huge opportunity. Once that happens, all hell will break loose. Once the floodgates are opened, they’re opened.”
The flood gates seem to opened ladies and gentlemen. Bitcoin (BTC) jumped from around $6,800 to $7,796 in a period of less than an hour in one of the most massive pumps seen this year. It has since settled to levels of $7,627.
So where is the volume and funds coming from?
The first and most obvious theory, is the one that Bill Barhydt had predicted of big time investors jumping into cryptocurrency investing. To note is that the famous Billionaire, George Soros, has been noted as welcoming the idea of investing in cryptocurrencies through his company, Soros Fund Management. The Rockefeller family is also getting in with the partnership of its investment arm, Venrock, with crypto startup, Coinfund.
A second explanation, could be American money coming in from the annual Tax refund season in the country that ends on April 15th. Perhaps a few crypto savvy individuals are planning for their Lambos by investing in crypto with their refunds; rather than buying new cars, paying mortgages or even saving for college. Famous stock market strategist and crypto investor, Thomas Lee, was quoted as saying that the markets will revive after the 17th of April and particularly after the American Tax Season.
According to Thomas Lee, Bitcoin (BTC) is on the path to $25,000 by the end of this year and $91,000 by 2020.
In a nutshell, the signs of a resurgent Bitcoin have stated showing in the markets over the past few hours. What remains to be seen, is if the volumes can be maintained for the new crypto prices to be sustained.
TO THE MOON!
[Photo source, steemit.com]
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LitecoinThe news that Litecoin is being added to Tenx does not come as a shock because from inception, the cryptocoin is living up to the recent billings attached to it, that it is the 3rd most popular coin in America, according to a survey among 1000 millennial in America.
Although Ripple is known to be world’s third most valuable cryptocurrency behind Bitcoin and Ethereum, but the survey ranked Litecoin above the Cross-border specialist cryptocurrency. Even though Litecoin is presently listed on Coinbase, one of the world most important exchange, the altcoin sees this as no big deal, and it is by no means hitting the sack, whereas it is on the run with no hesitation.
The recent Litecoin-TenX partnership has fashioned the initiation of a new development for the Litecoin, off-shooting the cryptocurrency to a new height.
On Wednesday, April 11, 2018, TenX, a virtual currency tagged to be “spendable anytime anywhere” aired a statement on Twitter that:
“Some #TenX updates regarding @LTCFoundation and @BlockfolioApp”
While confirming the disclosure elaborately, Charlie Lee the creator of Litecoin, and an Ex-Director of Engineering at Coinbase also tweeted that Litecoin’s currency, LTC has been added to TenX wallet.
“TenX recently added LTC to their wallets, and we are working with them to launch a Litecoin debit card. Stay tuned for more information. LitePay who”?
TenX, in another statement disclosed their excitement over the new partnership, with hopes it will step up their services and acceptability.
“We are also excited to announce a new partnership; we have reached out to, and are working with the Litecoin Foundation to introduce a co-branded card for which more information will be available soon. We hope to become the preferred payment platform for fans and owners of Litecoin, and cannot wait to see you use our wallet and join the revolution”!
TenX further stated that it is supporting Litecoin and it has added LTC to its wallet app for both iOS and Android.
eGifter Now Accepts LTC
While rejoicing with Litecoin over Litecoin-TenX development, that seems not be a dead end for the altcoin as eGifter now allows users to buy gift cards with LTC.
This was also made known in a Wednesday April 11, tweet released by Charlie Lee. He stated, “eGifter now accepts LTC for purchasing gift cards. They are using @AliantPayment. Thanks for supporting Litecoin”
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