Day: March 23, 2018

The blockchain-based online game room for gambling and lotteries, Truegame.io, has recently bulked up its already impressive expertise, with the addition of Bitcoin.com COO Mate Tokay to its advisory board.

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Seeking to introduce groundbreaking smart contract technology via blockchain to usher in the next generation of iGaming concepts, Truegame has launched a crowd funding campaign in the shape of a token generation event, now ongoing until the public token sale on April 16th, 2018.

The best of the best is now advising Truegame

Already having some of the leading lights of the iGaming industry develop its platform, Truegame will now benefit from yet another blockchain brain, Mate Tokay, who is currently COO of world-renowned Bitcoin resource portal, Bitcoin.com.

Through his work and association with one of the most recognized names in Bitcoin and cryptocurrency, Tokay is an active advocate for Bitcoin and Bitcoin Cash, as he and his colleagues push for mainstream adoption with cryptocurrencies. A graduate of the International Business School in Budapest, Tokay’s involvement with Bitcoin began with an introduction to the cryptocurrency in 2012, after which he experimented with Bitcoin mining in mid-2013 using his own custom-built ASIC miners.

After founding major blockchain news and review portal Bitcoinist, Tokay has been working with and developing Bitcoin.com since 2015.

His ideologies on gambling, reflected to the games on Bitcoin.com’s gaming platform (games.bitcoin.com), mirror those of Truegame, making the new partnership a logical one.

Tokay expressed high hopes for Truegame’s proposal to bring much-needed transparency to the online gambling industry through blockchain innovations, saying that:

“With their new blockchain tech, you can be sure that there is no cheating or manipulation whatsoever.”

Enhancing the credibility of online gambling

Truegame in its most basic form is an online lottery and gambling room based on the blockchain. It allows users to participate in lotteries secured by smart contract technology, with a fair and transparent opportunity to win valuable prizes and cash via instant ticket games, dice and others.

All its games are completely open source and based on smart contracts, ensuring the highest levels of transparency to its gamers, featuring an open registry that records every single gaming outcome, impervious to manipulation and alteration.

All gamers can now rest assured that winning conditions are entirely down to luck and mathematical probability, guaranteed by blockchain-based random outcomes. Even winnings are disbursed according to predetermined conditions automatically executed by smart contracts, ensuring that winners receive their just rewards for games of chance.

The Truegame token sale

Supporters are already recognizing the huge potential of such an innovation in iGaming, with the Truegame token sale already achieving its soft cap in five days and is headed towards a small hard cap of $9 million. Objective reviewers have judged Truegame to be the most promising project as well, with at least 59 experts having given it a top evaluation, averaging out to a rating of 4.8 out of 5.

With a Telegram community now approaching 10,000 members, Truegame’s vision of a new era of credible and transparent iGaming is about to be achieved.

To learn more about Truegame token sale, visit the crowd funding page here or visit the game platform itself. To connect with the developers and community members, visit the Telegram channel or view their thread on BitcoinTalk.

The cryptocurrency markets regained some poise in the week ending March 23, with several individual tokens making more notable gains.

Cryptocurrency and blockchain technology were two of the hottest topics of discussion during South by Southwest (SXSW) 2018. Conference organizers geared up for blockchain and cryptocurrency discussions last year, publically announcing that a new addition to the 2018 lineup would be a series of sessions specifically focused on blockchain technology.

SXSW Kicks Off with All Things Ethereum

This year, SXSW kicked off with a jam-packed keynote entitled “Why Ethereum is Going to Change the World” featuring Ethereum co-founder Joseph Lubin. During the panel, Lubin spoke with Forbes reporter Laura Shin about Ethereum and his new blockchain software technology company, ConsenSys.

As the panel began, Shin gave a brief explanation of what blockchain technology can do, noting that the deeper, more interesting question now is, “What is Ethereum?”

Lubin explained that Ethereum was created by Vitalik Buterin in 2013 as a vision for a system that is scalable in terms of human action and as a general platform for decentralized applications. Since then, Ethereum has captured the world’s attention, acting as a decentralized governance tool that can be applied to various industries, which is what Lubin’s new blockchain technology company, ConsenSys, is focused on achieving.

“We are building about 25 different platforms in various different industries, from music to health, in which we are really seeing the nature of business shifting. This is what we are calling the ‘decentralized world wide web’, or ‘web 3.0’,” Lubin explained. “It’s a way of doing things that involves trusted transactions and automated agreements on Ethereum, but it also provides protocols for decentralized storage and decentralized heavy compute.”

Lubin noted that ConsenSys is building a protocol-based open platform where different actors can use these open networks to introduce a set of services to consumers. A set of tokens will be associated with these services that will enable network effects to take place, causing people to want to be a part of these open networks. That said, this technology is taking an entirely different approach from the typical company and consumer model that is currently in place.

As an example, Lubin went into detail about a content platform he has created on the Ethereum network called Ujo Music. In a nutshell, the Ujo platform allows artists to register themselves as individuals and upload their content to the network with usage policies attached to that content, without having to go through any intermediaries.

“The beauty of this in contrast to the existing music industry is that it shrinks the role of the intermediary. Intermediaries in the music industry, for example, usually extract 70-80% of value flow in the industry and delay payments for artists. Our platform allows consumers to support artists instantly and ensures that artists get paid immediately for their work,” Lubin said during the panel.

Lubin noted that the music industry could soon see a shift from centralized entities to a decentralized platform, and hopes that Ujo Music will allow artists to act as their own agents and managers. As a result, the music industry will become more “creator-centric.”

When asked about cryptocurrencies, Lubin noted that he does not consider the ether token to be a form of cryptocurrency, but rather a “crypto fuel”.

“We don’t consider the ether token as a cryptocurrency. We do, however, consider it as a ‘crypto fuel’ or the first crypto commodity in history, as you need to pay tiny slices of ether to run programs on the Ethereum blockchain,” Lubin said.

“The Bad Boys of Cryptocurrency” Talk The Future of Blockchain Tech

The day after Lubin’s panel on Ethereum, “The Bad Boys of Cryptocurrency” took center stage at the Blokhaus, a venue that was founded by the World Tokenomic Forum and created specifically for blockchain and cryptocurrency leaders to gather and imagine the future together.

Futurist Joel Comm and technologist Travis Wright hosted a live recording of “The Bad Crypto Podcast” at the Blokhaus, adding a dose of humor to the crypto scene at SXSW. The “Live From SXSW at the Blokhaus” episode was one of the most entertaining yet informative crypto panels at the conference. The live episode featured interviews with a leading blockchain designer, Charles Bell, and Chris Snook, founder of the World Tokenomic Forum.

Hosts of “The Bad Crypto Podcast”, Joel Comm and Travis Wright, being interviewed at SXSW. Photo Credit: Shaina Weisinger

Charles Bell, the chief of product at Syncrasy, is working on delivering an ICO and blockchain consortium architecture design for leading companies and institutions around the world. Bell began his interview by stating, “Most blockchain deployments are going to fall flat on their face because they are not redesigning business to take advantage of the blockchain.”

Bell continued, “Four years ago we were focused on blockchain technology. Three years ago we started building smart contracts. This has now led to building platforms consisting of multiple blockchains to scale. This year, we’ve learned that if you want the benefit of blockchain between enterprises, they must transact together on a singular platform.”

Bell further explained his point by mentioning that the world of crypto is now seven years beyond blockchain technology and that a multiple-chain platform is needed for innovation.

“A multiple-chain platform is a combination of privately held blockchains, group-shared blockchains and globally available blockchains. When you design a platform environment, there is some information you want to keep privately, and there are things you might have shared with a small group on a blockchain. You might also want to share something with a consortium, which is a globally available blockchain. These three exposures allow for the creation of a consortium blockchain where people retain appropriate control and distribution of their data,” Bell noted.

Following Bell’s interview, Joel and Travis spoke with Chris Snook, founder of the World Tokenomic Forum. Snook explained that the World Tokenomic Forum is the leading international organization for enabling public-private cooperation, interoperability, and innovation as the world moves to a new economic order in a token and blockchain-based global economy.

In order to be part of the innovation happening in the crypto space, Snook has created a place and a space for those wanting to have a seat at the table early on.

“For us, blockchain is a super-democratized window that is a level playing field for states, countries, entrepreneurs and many others. We have created the place and space where an agnostic discourse that is productive and designed for debate can be made to all those participants. The purpose of the World Tokenomic Forum is to build bridges and tear down walls between decentralized and centralized economic institutions to create a new economic order that works for all humanity, honors innovation, and secures sovereignty,” said Snook.

The Blockchain Investment Challenge Wraps Up SXSW

As SXSW came to a close last week, Capital Factory awarded Samsa, a startup that runs a cryptocurrency index platform, $100,000 as part of its Blockchain Investment Challenge.

Samsa is an Austin-based startup that has created an online platform that lets users create custom portfolios from a basket of indexes. According to Samsa’s co-founder, Chris Slaughter, Samsa is disrupting financial services in crypto by bringing the kinds of advanced investing strategies that hedge funds use directly with retail investors.

“Samsa manages users’ own funds by automating trading on their exchange accounts. The idea behind the platform is it lets investors hold multiple different types of cryptocurrency in their portfolio and offers less volatility than single coins. Winning the $100K SXSW Pitch Competition recognizes the real market need for diversified investing strategies in crypto,” said Slaughter.

The competition’s two runners-up were Topl, a company building a platform for international investment on the blockchain, and Vertalo, a blockchain-backed platform to secure professional credentials for identity verification.

It seems most of the cryptocurrency markets are slowly making up some of the lost value as of right now. With the weekend almost upon us, it is evident there will be some intriguing momentum to keep tabs on. Right now, it seems the Bitcoin Cash price will rise above $1,000 again very soon. That is, assuming the momentum doesn’t turn around again in the near future.

The Bitcoin Cash Price is Inching Upward

It has been a pretty troublesome start to 2018 for all cryptocurrencies so far. None of the top 15 coins have reached and sustained any, major gains for longer than an hour or two. Whether or not this trend will eventually reverse course, remains to be determined. As of right now, it seems highly unlikely anything good will happen in the coming weeks. For the Bitcoin Cash price, the current struggle comes in the form of reaching $1,000 again.

To put this into perspective, we are currently looking at a Bitcoin Cash price of $984.5. That in itself is pretty decent, although most supporters would love to see BCH surpass $1,000 again. If this current trend keeps up, it is possible, we will see that kind of value later today. At the same time, all of these markets remain extremely volatile, and the positive moment can turn sour pretty quickly.

Whether or not we will see a Bitcoin Cash price of over $1,000 later today, is difficult to answer. Right now, Bitcoin Cash is still down by 2.46% compared to 24 hours. It is not a huge loss, but it is this percentile which makes the difference between $1,000 and just missing the cutoff. The positive note is how BCH is gaining 0.48% over Bitcoin, which can only be considered to be a good thing for supporters of this altcoin.

With $327.46m in 24-hour trading volume, it is evident Bitcoin Cash still has a long way to go until things can start to look up again. As all markets see less trading volume, this trend for BCH is not entirely surprising or disconcerting. The bigger question is whether or not we should expect any big changes in this regard anytime soon. The overall trading volume has been stuck below $20bn for quite some time now, and the issue is not going away.

Looking for the exchanges ranked by Bitcoin Cash trading volume, OKEx is clearly in charge as of right now. Its BTC and USDT trading pairs are generating over 30% of all trades, which is pretty interesting to keep an eye on. Huobi comes in third place, although it seems unlikely the exchange can ever catch up with OKEx in this regard.

For the time being, we have to wait and see what the future holds for the Bitcoin Cash price. The current trend seems to indicate hitting at least $1,000 should be possible today, but the cryptocurrency markets always remain unpredictable first and foremost. This is also what makes cryptocurrency so intriguing, even though long-term holders will hope this bearish momentum wears off fairly soon.

Billions of dollars are traded on major cryptocurrency exchanges like Binance, Huobi, Bithumb, and OKEx on a daily basis, and users tend to prefer these exchanges over other platforms in the market due to their high liquidity.

Binance for instance, the world’s largest cryptocurrency exchange, settles more than $1.8 billion worth of cryptocurrency trades per day, and it is processing $370 million worth of bitcoin trades alone.

But, in order to trade on these platforms with reasonable trading limits and flexibility, users are required to undergo a rigorous Know Your Customer (KYC) and Anti-Money Laundering (AML) verification process, during which users have to submit relevant government-issued documents like passports, carry out face-to-face interviews, and provide bank documents.

Vulnerability

For cryptocurrency-only exchanges like Binance and Huobi, KYC and AML requirements for users are significantly less strict in comparison fiat-to-cryptocurrency exchanges. Still, to withdraw relatively large amounts of bitcoin or any other cryptocurrency like Waves, users need to be KYC and AML compliant.

As instant cryptocurrency exchange ShapeShift CEO Erik Voorhees stated before, KYC and AML systems can leave centralized platforms vulnerable to data thefts and hacking attacks, especially if exchanges store sensitive information such as passport data, banking documents, social security numbers, and more.

In June 2015, Voorhees boldly decided to leave a big cryptocurrency market in New York due to the BitLicense, a licensing program for cryptocurrency-related businesses that enforces strict KYC and AML regulations.

“It would maybe be a different story if, you know, companies and governments were able to retain secure records of things. But just last week, there were 4 million accounts [compromised] on several computers – it’s every couple of weeks there’s a big data breach somewhere,” Voorhees said at the time.

Waves Decentralized Exchange

Large-scale decentralized exchanges like the Waves Decentralized Exchange (DEX) that is built into the Waves blockchain protocol essentially allow users to remain in full control of their funds, information, and sensitive data, while still providing sufficient liquidity.

Already, DEX of Waves is processing nearly $700,000 worth of cryptocurrency trades per day. Although the daily trading volume of decentralized exchanges like Waves DEX are low as of current, as cryptocurrency users develop awareness of security and blockchain networks scale better to handle millions of trades on a daily basis, the volume of decentralized trading platforms will naturally increase.

Fred Ehrsam, the co-founder of Coinbase, previously emphasized the importance of decentralized exchanges in terms of security and financial independence. Due to their ability to allow users to possess all relevant information such as private keys and funds, decentralized exchanges eliminate the possibility of hacking attacks. Even if the network is compromised, users can easily retain their funds through their private keys.

“There are a few obvious benefits to decentralized exchanges. First, they allow you to remain in control of your funds. So no risk of the exchange being hacked or going insolvent. This can lead to higher liquidity, as users may be willing to leave orders open on the orderbook for longer when counterparty risk is gone,” Ehrsam wrote.

After several hacking attacks on cryptocurrency exchanges including South Korea’s largest trading platform Bithumb and leading Japanese exchange Coincheck occured, the demand for decentralized exchanges has increased. In the long-term, as cryptocurrency users develop more awareness of security and privacy, the adoption of decentralized exchanges like the Waves DEX will inevitably increase exponentially.

The post Centralized vs Decentralized Cryptocurrency Exchanges: Vulnerability of Most Trading Platforms appeared first on NewsBTC.

Stock markets have been engraved in the DNA of society since 1817 and have not looked back since. Anxious individuals stared at the giant board in the New York Stock Exchange, hoping for good news. Before stocks were the infatuation of the world, they were considered “risky” and “not safe”. It is astonishing how times have changed from that point. With anything that is new, there is a hesitation and doubt in the minds of people. Evolution of a society states things will never stay the same. They will always evolve and nuances will begin to form and take hold. The cycle of doubt and skepticism is always followed up by immense enthusiasm. We are beginning to see a paradigm shift in the minds of many people. No longer are individuals keen on putting money into stocks and just watching them. Individuals want to invest in the latest trend, new technology and great personel. It is time to say goodbye to stocks being at the forefront and say hello to cryptocurrency.  Millenials are the largest generational group of people on the planet. They have a huge influence on how the world works and operates, especially in the digital realm. That is great news for all cryptocurrency supporters and even more so for Snovio​.

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The Millennial Crisis  

Cryptocurrency is all about consuming. If one is truly invested and interested in it, one can’t go a day without getting a dosage of crypto in. The majority of the older generation is set in their ways in regards to their fondness of stocks. This is not the case for many millenials, who are heavily invested in cryptocurrency. They want to invest in real world problem solving solutions that can affect the landscape of our future. A recent poll, conducted by Swell Investing, showcased that 12% of millenials, if given the opportunity to invest their money; they would do that in cryptocurrency, rather than the traditional stock options. This is compared to 3% of people age 45-64 who said they would invest in cryptocurrency. This disparity in age and decisions plays an integral role in the future of cryptocurrency. Nowadays, only ​33% of millennials​ are investing in stocks contrasted with 51% of people in the prior generation. Millennials realize that cryptocurrency is the future and will do anything to take a stride toward it. More importantly it will be essential to the continued rise in Snovio. A huge audience combined with a cryptocurrency that solves so many applicable needs is the perfect match.  

Snovio & Millennials

Millennials meet Snovio. Snovio meet the millennials. Now that we got that out of the way, let’s discuss how both ware a good fit for each other.  

Millennials are the largest group in the workforce right now, so nothing is more applicable than the services that Snovio provides. The world’s first decentralized lead generation platform is making its way through the cryptocurrency community and is heading to millennials all around the world. Snovio is applicable to all people, regardless of where one works or what their occupation is.  

Snovio is the first decentralized lead generation platform. In layman’s term, Snovio’s service makes life easier for individuals looking to obtain valuable information.  With Snovio, you can: ​search domains,​ ​find verified emails​, ​lead search​ and​ find specific companies​. Through all those attributes you will find a complete working system that revolves around a client’s needs and the contributors ability to find the data required.  

The benefits of Snovio for Clients

Snovio addresses the lead generation problem faced by anyone trying to grow their network. Many millennials in the work field rely on finding new leads for future opportunities in their career. The current options for attracting leads involves outdated practices and poor services currently on the market. That is where Snovio comes into the picture.

Millennials are always looking to get the most work done in the least possible time. Being associated with terms such as ‘lazy’ and ‘lackluster’ in the eyes of the older generation is a common misconception. In reality, they have a yearning to do the most efficient work in the shortest amount of time. Millennials are looking for cutting edge technology, innovative services, faster solutions and dependable sources.  

Snovio has some core problems they are solving with their unique platform. They will solve the ​transparency lead problem​, ​inefficient leads​, ​real time updates,​ and clarity between clients and contributors​ to name a few. This is perfect for a multitude of different personnel who require this service. Snovio casts a wide net with their clients, which includes individuals in the following line of work: legal, dental, real estate, travel, SaaS, IT, education, automotive and many more. There is a huge demographic of millennials who rely on this service to stay ahead of the competition.  

Lead transparency problem

The majority of platforms that offer lead help in one’s endeavors never completely explain where the data is coming from or how reliable it is. Snovio mitigates this problem by giving free reign to transparency among the clients and contributors with complete access to see:  

1) When the data was added  

2) How much of that particular data was bought.  

Problem solved.  

Quality leads and exclusive data

Often times, the leads purchased are fake in one way or the other. Phone numbers or names among other things are wrong, which results in a deficit of leads. Utilizing Snovio, the client can see how relevant this data is and make sure the data is exclusive for them.  

Real time updates

How nice would it be to be able to get real time updates in the ever-changing environment we work in? Sadly, we can’t have an all inclusive service that provides the results from the data immediately. Oh wait, we do have the solution. Snovio platform allows for real time updates to meet your needs. Problem solved.

Clarity  

How much money does the contributor get? What is the revenue split look like? Snovio provides complete clarity between all parties involved by featuring smart contracts which include a wide range of information.

Snovio has the answer to every concern that a millennial may possess.  

The benefits of Snovio for Contributors

Not only do contributors get to help people gain the data they need, but they also get paid in Snovio tokens – a highly valuable commodity. Once a smart contract is initiated, the contributors can mine the data either using a service they already use or utilizing the assistance of Snovio to find a client’s needs. With a 70 % revenue share, Snovio has plenty to offer.  

Perfect match  

The endearing love for cryptocurrency combined with the ability to find the best leads makes Snovio and millennials the perfect fit. It is rare to combine something so important in today’s society and make it so easy and accessible for everyone to use. In such a competitive marketplace, Snovio holds the advantage. The complete package they can deliver to you is transcending how people go about getting their leads. From one millenial to another take my advice: ​look into Snovio today​.  

Long story short

Millenials are the most passionate cryptocurrency enthusiasts and there’s no better time to get involved then right now.  

Snovio solves the following lead problems: ​transparency, quality leads, exclusive data, clarity and real time updates.

The future of lead generation is here and Snovio has all the answers.  

Executives working with two of the largest live blockchain implementations spoke on stage at the DTCC’s annual fintech event.

Yahoo Japan is planning to launch its own cryptocurrency exchange next year, Nikkei Asian Review reports.

The world’s largest cryptocurrency exchange, Binance, has announced that it is planning on opening an office in the warmer climes of Malta.

Founded last year in Hong Kong by Changpeng Zhao, the exchange moved its operations to Japan in response to China’s ban on crypto activities last September. Now, it looks as though the exchange will be relocating again given the recent crack down with Japanese authorities.

In an interview with Bloomberg, Zhao said that Binance is close to securing a deal with banks on the Southern European island country, where it will provide a ‘fiat-to-crypto exchange,’ adding:

We are very confident we can announce a banking partnership there soon. Malta is very progressive when it comes to crypto and fintech.

News of Binance’s planned move to Malta comes after the exchange received a warning from Japan’s financial watchdog, the Financial Services Agency (FSA), regarding its lack of an operating license within the country. The cryptocurrency has several staff members in Japan and has been reported as expanding without official permission. Following the news yesterday, Zhao took to Twitter to reassure investors that there was no conflict between Binance and the FSA.

Zhao has said that the company remains in discussions with authorities; however, it’s not known what they outcome will be. In recent months, the FSA has been clamping down on cryptocurrency exchanges in Japan following the January hack at Tokyo-based exchange Coincheck, resulting in the theft of $530 million worth of NEM. As a result, the agency has since suspended two crypto exchanges due to a lack of proper security measures.

The planned move to Malta comes at a time when the country’s policy makers are ramping up efforts for it to become a leader among the digital assets sector. The Malta Independent reported last month that the government had launched a policy document that seeks to set up the Malta Digital Innovation Authority. The aim of it is to provide legal certainty for blockchain-based companies.

Since the announcement, Malta’s Prime Minister and leader of the Labour Party, Joseph Muscat, took to Twitter to give his view on the move, stating that ‘we aim to be the global trailblazers in the regulation of blockchain-based businesses and the jurisdiction of quality and choice for world class fintech companies.’

Responding to Muscat’s tweet, one user expressed the view of others by stating: ‘Looks like Malta is thinking ahead unlike some other countries.’

The post World’s Largest Cryptocurrency Exchange Binance Moves to Malta, With Prime Minister’s Welcome appeared first on NewsBTC.

Bitcoin’s retreat from the 200-day moving average hurdle may yield a retest of the psychological support of $8,000.

Cryptocurrencies continue to attract a lot of attention all over the world. Especially younger people want exposure to his volatile form of money. It now appears college students are investing in Bitcoin with their student loans. This type of irresponsible behavior needs to be nipped in the bud as soon as possible.

Student Loans for Bitcoin

Most people will agree Bitcoin and altcoins have always been mainly targeted at younger people. This new form of money is completely digital and makes a lot of sense to Millennials. Moreover, it is also an interesting investment opportunity, albeit one with serious risks. Given the volatile nature of these currencies, it is evident money can be lost a lot quicker than earned. Even so, it is not deterring students from buying Bitcoin over the past few months.

Especially college students show an increasing interest in cryptocurrency. On the one hand, that is a positive sign. It shows the current price volatility is not much of an issue when it comes to attracting new investors. The way these students go about things, however, raises a lot of questions. Using student loans to invest in Bitcoin is irresponsible and simply a bad idea in general.

While it is true these investments can work out just fine, they won’t for most users. More specifically, a lot of people lose money by investing in Bitcoin. The volatility of this market can make it impossible to make money for long periods of time. For those dealing with student loans, missing out on repaying it due to bad investments is something to avoid at all costs.

A Growing Pool of Debt

In the past decade, it has become evident most student loans take a decade or more to be repaid in full. This money should be used for educational purposes and expenses first and foremost. It is not a supplemental income to be used for cryptocurrency investing by any means. While the enthusiasm regarding crypto is understandable, irresponsible behavior is unacceptable.

A recent study by The Student Loan Report shows one in five used a part of their student loan to buy Bitcoin. Although it is unclear how much money they invest, it shows the train of thought is very strong. Even so, one has to wonder how smart this decision is. Using a debt to potentially put one in more debt is never the answer in this regard.

There is another issue when it comes to this type of activity. Right now, it is unclear if this is even legal to pursue this option. Buying Bitcoin has nothing to do with a student’s education by any means. We may very well see some major repercussions in this regard over the next few months. There is still a lot of uncertainty when it comes to Bitcoin and other cryptocurrencies as of right now.

The post Using Student Loans to Buy Bitcoin Will Only Lead to More Debt Woes appeared first on NewsBTC.

The bearish pressure across all cryptocurrency markets is not relenting by any means. Although the first few days of this week seemed rather promising, things have not improved by any means. Instead, we see all currencies suffering from losses yet again, which is never a good sign heading into the weekend. The NEO price is dipping below $67 gain and could go a bit lower before the week is over.

NEO Price Dip is not Surprising

Even though most enthusiasts still experience good things to happen for all cryptocurrencies, things are not looking all that promising as of right now. Ever since 2018 came around, we have seen nothing but bearish market conditions for Bitcoin and all top altcoins. As such, the NEO price has seen its fair share of ups and downs throughout these past few weeks as well.

More specifically, we are now looking at a NEO price of $66.66. While this is the number of the devil and then some, it also shows the previous all-time high for NEO WA pretty exceptional. For the time being, we have to wait and see how things evolve in this regard. The current trend is anything but positive as of right now, yet it remains to be seen how low the NEO price can go in the coming days and weeks.

Earlier this week, the NEO price dipped a slow as $50. That in itself is rather worrisome, but the dip was bought quickly and the NEO price eventually had back to $80. So far, that uptrend has not been maintained in a meaningful way, as the value is now hovering at $66. If this trend continues, we may very well see NEO hit $60 or lower before the week is over.

With $157.39 million in 24-hour trading volume, NEO is on par with most altcoin markets as of right now. The overall cryptocurrency trading volume has dipped below $15bn once again, which is not a good sign considering how the weekend is almost upon us. As most people are well aware of, cryptocurrency markets tend to suffer from a lack of momentum during the weekend.

As of right now, Binance is still the largest exchange for NEO trading. More specifically, their USDT and BTC markets combine for over 47% of all NEO trades, indicating its dominance in the market a safe right now. Bitfinex completes the top three, followed by CoinEgg and Upbit. There are two fiat currency pairs in the top five, which is rather intriguing, Unfortunately, it is not stemming the bleeding as of right now.

For the time being, we will have to wait and see how things play out for the NEO price in general. as of right now, things are not looking that great, but things can always turn around in the world of cryptocurrency without any specific reason. Whether the NEO price will hit $60 or $70 later today, has yet to be determined at this point in time.