Day: September 6, 2018

Key Highlights

• Ripple price recovered nicely after trading as low as $0.2700 against the US dollar.
• There are two bearish trend lines in place with resistance at $0.3080 and $0.3120 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair could correct further higher, but it could face a strong resistance near $0.3120.

Ripple price has recovered nicely against the US Dollar and Bitcoin. XRP/USD is now facing key resistances near the $0.3100 and $0.3120 levels.

Ripple Price Recovery

After trading towards the $0.2700 level, Ripple price found a strong buying interest against the US Dollar. The XRP/USD pair started a solid recovery and moved above the $0.2850 resistance. The upside move was solid as the price broke the $0.2900 resistance. There was also a break above the 23.6% fib retracement level of the recent slide from the $0.3400 high to $0.2700 swing low.

The price even traded a few points above the $0.3200 level. However, it faced a strong resistance near the $0.3035 level. It represents the 50% fib retracement level of the recent slide from the $0.3400 high to $0.2700 swing low. More importantly, there are two bearish trend lines in place with resistance at $0.3080 and $0.3120 on the hourly chart of the XRP/USD pair. The pair is currently trading in a tight range near the $0.3000 level. It could correct further higher, but the second trend line, the $0.3120 resistance and the 100 hourly SMA are important barriers. Therefore, it won’t be easy for buyers to push the price above $0.3120 and the 100 hourly SMA.

Looking at the chart, ripple price is showing positive signs above the $0.2850 level. It seems like the price may perhaps trade in a range above $0.2850 before making an attempt to clear $0.3120.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is well above the 50 level.

Major Support Level – $0.2850

Major Resistance Level – $0.3120

The post Ripple Price Analysis: XRP/USD Facing Key Resistance Near $0.3120 appeared first on NewsBTC.

The Lindy Effect states that the life expectancy of a non-living thing is proportional to its current age. Therefore, according to the Lindy Effect, Bitcoin will survive long term.

In more scientific terms, time is tied to disorder and entropy. Entropy causes every physical thing in the universe to slowly decay into disorder. When it comes to Bitcoin, there are many events that cause disorder for Bitcoin and have the potential to damage Bitcoin, such as exchanges getting hacked, increasing government regulations, fights in the community, and errors in code. The fact that Bitcoin has survived persistent and continuous threats for nine years now makes it clear Bitcoin is anti-fragile, robust and likely to continue surviving. This is the Lindy Effect – the longer something survives, the more likely it is to keep surviving since it has already proven itself.

Another way to look at it is that Bitcoin has plenty of entropy, and there is plenty of friction from outside forces that can wear it down. However, the factors that are making Bitcoin grow are inputting more energy into Bitcoin than the energy it is losing from negative factors. For example, demand is increasing worldwide due to it being the number one cryptocurrency. Bitcoin is decentralized, cryptographically secure, instant, and has low fees, making it better than fiat, so demand is rapidly increasing long term. Simultaneously, its infrastructure is rapidly proliferating, making it an even stronger currency.

These positive factors far exceed the damage caused by hackers, fighting, regulations, and manipulation, so Bitcoin is not only surviving, it is growing. The Lindy Effect shows that Bitcoin will be around for many more years, probably our entire lifetimes, because it is robust in the face of destructive influences.

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Could you live without cryptocurrency in your life? For its proponents, bitcoin is a drug that’s had them hooked since the day they discovered it. Not all holders feel the same way though. Stung by massive losses and the realisation that cryptocurrency is taking over their life, some traders forced themselves to walk away for good.

Also read: Major Korean Insurer to Offer Crypto Exchanges Insurance for Hacking Damages

Moving On When the Music Stops

“After spending 5 years in crypto I am out,” began the message board confession. “Yesterday’s crash was brutal, and something I can’t wrap my mind around changed when I woke up this morning. I don’t want to wage-cuck but I will. And instead of spending my entire days behind a screen in a room I am gonna get a job, hang out with the friends that I have been neglecting and just be a cucked member of society.”

The prospect of quitting crypto altogether – everything it stands for and the culture that comes with it – is anathema to most. Being in crypto is like supporting your football team; it’s less something you choose, and more something that’s thrust upon you. Buying bitcoin is akin to being inducted into the Mafia: once you’re in, you’re in for life. But life isn’t always understanding, and for some, cursed by their own greed or poor decision-making, cryptocurrency can become a millstone around their neck, a dead weight more burdensome than the heaviest of altbags.

Crypto Is a Hard Habit to Break

Few tears will be shed over those who came for the profits, got burnt, and then scampered back whence they came. The remainder who are, all memes aside, in it for the tech, and for the financial freedom cryptocurrency can provide, won’t be going anywhere. Not all of those planning to abandon the good ship crypto are doing so because they got rekt, it should be noted. Some have simply become too immersed.

“I’m starting to consider what to do in a few months time,” conceded one freelancer, pondering an exit strategy. Having been working full-time in crypto for six months, while racking up long hours, he’s starting to feel the strain. Despite having been enthralled with bitcoin since 2013, being forced to eat, sleep, and talk crypto 24/7 is taking its toll. He continued:

The Men Who Sacrificed Everything

New research has sought to dispel the notion that women are more risk averse than men. That may be the case, but anecdotally at least, crypto’s quitters are overwhelmingly male. While the rage-quitting stories of anonymous message board posters and pseudonymous Telegram users are hard to verify, collectively, the narrative is clear: due to financial or mental health reasons, a growing number of guys are seeking a clean break.

“Just calculated my losses, 76% loss in 2 months, feeling like quitting crypto,” reads one message on the notorious Rekt Plebs Telegram. “I’m literally done with crypto,” mopes another. It is no coincidence that many of the same people who lost years of their lives to World of Warcraft have succumbed to a similar fate with crypto. The dopamine rush that fuels the rewards mechanism in each of these pursuits is identical.

A Serious Addiction

“I am addicted to this shit,” admitted the /biz/ poster mentioned at the outset. “I need to step away and do something else, just like WoW was 5-6 years back, crypto is dictating my daily life. It’s not healthy and it’s damaging relationships with friends, family; and mentally it’s taking its toll too. Maybe I will just a break, but at this point not intending to come back for some time. Crypto is my addiction, I need to get it out to stop a vicious cycle.” As for his portfolio, he recounts:

180k at my peak, 10k now, cashed out 25k along the way. Wouldn’t know what to do with the 180k if I got there again. Dreadful. But I learned many important lessons. I figure I’d say goodbye to the board which kept me entertained for the past 2 years. Leaving 40$ in ETH & MKR since I CBA to cash [out].

Within minutes of the wallet’s private key being posted, it had been emptied of its shrapnel by a grateful fellow anon.

Humans are obsessive in their habits. We have a tendency to do things 100% or not at all. That’s why guys will hammer the gym six days a week or stay rooted to the couch, and women will yo-yo between dieting and binging. Cryptocurrency, like all of the best things in life, is best enjoyed in moderation, but that’s easier said than done.

Most people have the ability to step away from Tradingview when crypto starts to take over. But for those who struggle with impulse control, taking a complete break from cryptocurrency may be the only option. Walking away in the depths of a bear market is one thing. Staying away when the next bull run kicks in may be quite another.

Could you live without cryptocurrency in your life? Let us know in the comments section below.

Images courtesy of Shutterstock, and Twitter.

Need to calculate your bitcoin holdings? Check our tools section.

The post How To Make Sure Crypto Trading Does Not Take Over Your Life appeared first on Bitcoin News.

Mobile investment app Robinhood that launched a zero-fee crypto trading service this year is now searching for a CFO as it prepares for going public.

Bitcoin Price Key Highlights

• Bitcoin price recently made a sharp tumble, breaking below an ascending trend line connecting the lows since mid-August.
• Applying the Fib retracement tool on the latest swing high and low shows that the 61.8% level lines up with the broken support.
• Technical indicators are suggesting a potential pickup in bullish momentum.

Bitcoin price could be ready to make a pullback from its recent slide, and the Fib tool shows potential resistance levels.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. In other words, there’s still a chance for bulls to charge again and possibly spur a retest of the latest highs.

Stochastic is also indicating oversold conditions or that sellers are tired. The oscillator is starting to pull up as well, reflecting a return in buying momentum. Similarly RSI is climbing out of the oversold region and moving north could allow bitcoin to follow suit.

BTCUSD Chart from TradingView

A correction could take bitcoin up to the 61.8% Fib near the $7,000 major psychological level and the broken ascending trend line, which might hold as resistance moving forward. A shallow correction could last until the 38.2% Fib near the 200 SMA dynamic inflection point or the 50% retracement level at the 100 SMA and $6,850 area.

Bitcoin was actually off to a good start for the week thanks to increased coverage on bullish analysts’ forecasts, but the cryptocurrency gave these gains up when it was reported that Goldman Sachs might ditch its plans to offer a bitcoin trading desk. This drop was exacerbated by news of ShapeShift’s new registration requirements and rumors of layoffs and a shutdown in some Kraken operations.

Still, some bulls might be keen on defending nearby support levels as many still expect the SEC to approve bitcoin ETF applications and the rebound to materialize before the end of the year.

The post Bitcoin (BTC) Price Watch: More Bears Waiting to Join In? appeared first on NewsBTC.

Pseudonymous developer Sunny King, the creator of proof-of-stake, has a new approach for the consensus mechanism – and it revolves around hardware.

The monetary policy of ETH continues to be in flux, thanks in large part to the PoW to PoS transition and an unexpected increase in ETH inflation this year. A course-correction with a decrease in inflation on October 30th is certainly bullish for price, but it points to a bigger problem.

ABCC Launches Free Listing via Voting ABCC is bringing another groundbreaking opportunity to the crypto-universe this week. The world-class digital asset exchange platform is now recruiting outstanding blockchain projects around the globe. This free listing opportunity is set to help discover premium blockchain projects in order to provide its users with better digital asset trading services.

“Helping investors identify valuable blockchain assets is our mission. Our recent initiative, Community Voting, gives autonomy back to the community and empowers users to vote for the projects they believe in. As a result, the projects chosen by the community will be listed on ABCC free of charge.” Calvin Cheng, CEO, and Co-founder of ABCC

The free listing is done via a voting system called Community Vote to List Scheme. The voting system helps to identify which coin or token have more support from the community. That a coin or a token acquires a higher number of votes does not mean that it will be listed. While higher number of votes plays a major role in the listing, the ABCC team will also rely on its strong technical skill and experience in the crypto industry in order to select the listed coins or tokens.

This is a break from traditional process, where blockchain startups have to fork over huge fees to be listed on exchanges. ABCC’s approach democratizes the listing process, making sure that projects that have the support of the community have a greater chance of getting exposure to investors and enthusiasts.

With an objective to provide a substantial platform with more diversified digital assets investment opportunities, users and investors will have the best chance at finding premium projects. And as such, they won’t miss out on the chance to be a part of the next big thing.

ABCC APP updates

ABCC successfully launch app update on Google Play Store. With the latest update, the app is equipped with more options and functions, giving it the best mobile experience and a more user-friendly interface.

“From the very beginning, ABCC focus on refining the products, optimising UX and bringing a smoother trading experience to users. It is reflected in our APP, our weekly product updates and now ABCC Pro. ABCC Pro, completely free, will cater for traders from all levels. We will also include a Beginner’s Guide to help new users familiarize ABCC in a minute.” – Calvin Cheng, CEO, and Co-founder of ABCC

Launching of the ABCC Pro and ABCC Cloud

The ABCC Pro is set for launch within the next few weeks and promises one of the best trading experiences ever to grace the world of cryptocurrency. The ABCC Pro is designed to cater for traders from every level. With the goal of making trading much easier, users will have a better overview of the entire trading platform. Beginners will also be offered a guide that will help them familiarize themselves with the platform. With better features and easier navigation system, giving it a more high-end investment and trading experience.

The ABCC Cloud will also be launched soon; this will be a world-class platform for global digital asset exchanges. ABCC Cloud is created to help partners around the world create their own exchanges seamlessly.

ABCC Cloud will also offer all-round support to its partners, from token listing services to other operational services – in order to help partners improve and also successfully establish their business.

More Updates

Referral Program

ABCC announces a change in their referral program. The new percentage have to reduce to 10% for first-level referrals and 5% for second-level referrals (used to be 20% and 10%).

All-New Enhancement Voucher

The All-New Enhancement Voucher also known as “Mining Power Enhancement Voucher” is a unique benefit for ABCC users. With this new feature, users with the Enhancement Voucher will be able to enjoy higher mining power at the same cost, therefore, receive more AT.

For more information or inquiry on how to earn the ABCC Token (AT) or use the all-new Enhancement Voucher, please visit www.abcc.com

Company Name: ABCC

Location: Singapore

Contact Person: Xini Wei

Email: [email protected]

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

The post ABCC democratizes token listing through community voting mechanism appeared first on NullTX.

Robinhood crypto and stock trading app is planning to launch an IPO, and is reportedly searching for a CFO as it undergoes audits from the SEC and FINRA