What will happen when we break the downtrend? Immediate pump?
When bitcoin breaks its long awaited 2018 downtrend, which some are calling the edge between bearish and bullish, what can we expect? Some say the past week’s chop, i.e. sideways trading, will continue for a few months — similar to 2014.
That may be due to the current downtrend line breakout forecasts being overrated. The horizontal levels of support and resistance may be providing a more accurate representation of what the market actually believes the price of a bitcoin should be.
Even though we’d all prefer a swift return to a bullish market, it seems we might revisit £3.5k to £4.2k ($5k to $6k). According to historical data, this would be the greatest opportunity to buy bitcoin since November 2017. It’s fair to say these quiet periods can be the best!
Over the past day, prices across the top 100 cryptoassets have been fairly stable, appreciating by 1.5% overall. While bitcoin just decreased 0.2%, some projects like Ontology, a promising new blockchain, saw 40% gains.
ONT, Ontology’s governance token, was launched by a Chinese company in 2017. Some say it’s the next NEO albeit them being more like partners rather than competitors in an analogy, which considered it to be one of the top yearly performers.
The rise was mostly due to news of its awaited test-net. As new blockchain projects enter the market, some say “we won’t be talking about Bitcoin in three years,” however, what if these blockchains aren’t competitors? What if these innovators get complacent?
Zurich’s Crypto Summit and Istanbul’s Blockchain Venture Summit are taking place today, with popular speakers from Early Bird Capital, Polychain Capital, Civic, and Tezos. Even Tim Draper is in Zurich! Follow them on Twitter or watch the livestream.
Crypto traders around the world have been filling their tax returns these days. Are these tax-related nuisances worse elsewhere other than the USA? Read this if you need some guidance with regards to your next tax authority consultation, which suggests that the current systems are not fair.
Exchange are continuously talking with regulators to ensure innovation in this space is not stifled. The Chicago Board Options Exchange is pressing the SEC to approve bitcoin ETFs as the bitcoin market is starting to resemble a traditional commodity market.
Security tokens are key for the future of cryptoassets. What are they and why do they represent a “new way of thinking about investments on a blockchain”?
Game Theory is more touted about than understood. That’s why we recommend this good article outlining the basics of “cryptoeconomic game theory”.