Why I had refused to trade on other cryptocurrency platforms and I have been trading only on BitSeven for over a year.
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Mood of the market and how to determine it As your knowledge and experience grows in the analysis of price charts, you will have your own preferences, and maybe some of you even will develop your own author's methodology. The logical conclusion of the initial cycle of our issues will be familiarity with such concepts as: mood of the candle, mood and psychology of the market, available electronic resources for analyzing the mood of the cryptocurrency market. Yes, emotions are a bad adviser when trading on the stock exchange. You may be able to keep emotions aside when making decisions, but the vast majority of traders are subject to emotions. We study graphical price analysis. The price, which is a concentrated expression of past, present, and future. An important component influencing the formation of prices and trends in the market is the attitude of market participants to these events, their feelings: the desire to make money and the fear of losing their investments. We start from the candle. The color of the candle and the direction of the trend tells us about pessimistic or optimistic moods in the market, when most participants sell or buy assets. If the candle closed above the previous maximum, then we can talk about the bullish mood of the candle. And if the candlestick closed below the previous minimum - a bearish mood. The candle, which closed at the level of the body of the previous candle, has a neutral mood. We can also determine the intensity of the mood of the candle, highlighting candles with high, medium and low closing. Of course, we will not find on the online resource trading platform a tool for determining the mood of traders. But this does not mean that separate platforms have not been created for such tools. We’ll end this issue with the Fear & Greed Index. This index takes into account the following parameters: Bitcoin exchange rate fluctuations, its current and average values, trading volume, Bitcoin dominance index, tools and resources for SEO: keywords, hashtags, polls, Google Trends. We present the Fear & Greed Index chart, where the value “0” means the greatest intensity of investor fear and the chance for a successful purchase, and the value 100 represents overbought market and close price correction.
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Hull Moving Average trend indicator Preferring graphical analysis of prices using candlesticks to find the optimal entry and exit points from the transaction, beginner trader should systematically and consistently expand their knowledge. Improve your trading strategy with the trend and be receptive to new ideas and knowledge. Today we will talk about indicators that we can use with our trading strategy. Analysis of the price chart determines the trend line and channel, resistance and support levels, pivot points, entry and exit points from the transaction. Some traders make a decision at this stage for their transaction, others can use the indicators of the trading terminal before making their decision to check if their predictions are right. Regardless of which traders side you join, we suggest to get acquainted with the “Moving Averages” indicator now. This is a fairly popular indicator and has such varieties as Simple (SMA), Exponential (EMA), Smoothed (SMMA), Linear Weighted (LWMA), Hull Moving Average (HMA). This is a family of trend indicators that serve to determine the beginning of a trend and its reversal. The indicator shows the average value of the asset price for the selected time interval by the trader. So today, we will be looking into Hull Moving Average (HMA), which is provided to us by the BitSeven trading platform on its terminal. First go to the platform webiste at www.bitseven.com. Select the “Leverage Trading” tab. In the upper left corner of the terminal, select the "Indicators" button. in the opened menu, we are interested in the Hull Moving Average (HMA). After these manipulations, a Hull Moving Average will appear on the chart.
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Crypto news digest week 10 + Analysis BTC chart, day: The price showed a strong increase until the zone of offering, which had high probability that sellers would become more active in this zone. The volumes in the uptrend were high and thus the demand was maintained. However, in the offering zone 4100-4200 the price was abruptly bought off, and the size of the spread and the volume accompanying it clearly show there are a large number of static and dynamic sell orders. The price was led to the nearest support level, where the price was able to meet the existing demand on the market. And so far the price wasn't allowed to go lower, thereby accumulating the position at the level. After accumulation, it is likely the price is going to test the zone 4100-4200 again, and, if the offer remains so high, then the distribution to the level of 3400-3500 will be followed, which is most likely to happen. With a breakthrough of 4200 and consolidating higher, it is worth considering on purchasing an asset, but given the global downtrend, the probability of a breakdown of 4200 is minimal. ETH chart, day: On very strong downtrend within the daily chart, the flat was formed at the moment. It is noteworthy that the level of 167, had first become a strong support zone, and then was followed by the breakthrough, while at the same time the breakthrough was on the impulse and on the volume, which only strengthens this zone. When the price approached this level, but from below, it became a very strong mirror zone of the offer, which was confirmed by the high point volumes. When retesting the resistance level, there was also an output of extremely high volume and a sharp rollback down to the nearest demand zone observed, where exactly at the moment the price is accumulating. Considering the global downtrend, strong offering zone, with a confirmed availability of a large number of static sell orders, it is still worth considering ETH only for sale, but as soon as price 167 is broken through and consolidates higher, only in this case it makes sense to consider buying of this asset, but for now only sales are active. LTC chart, day: At the moment, there is a correction movement within the global downtrend. The local uptrend was followed by the coming out of extremely high volumes on the upbars, and before the last upward movement, a shakeout could also be observed, then followed by an upward price movement. The price finally reached the zone of the last long accumulation, that was followed by a rather large and long distribution. The volumes indicate that there is offer in this zone, but so far demand exceeds offering volume, therefore selling should not be considered yet, but at the same time it is too late for buying, because the direction of liquidity here can change in any point and all demand will be engulfed. For this asset, it is necessary to wait for some trading results and observe the volumes in order to understand in which direction the liquidity is directed and in which direction to place order accordingly. XRP chart, day:
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economy IMF sees in the gaming industry. However, it is worth noting that financial transactions have never been the main source of income of Malta. Over 30% of GDP is in the tourism sector, and the same amount is in shipbuilding. In addition, since the legalization of cryptocurrency and the blockchain, in fact, only half a year has passed, so such a short period can not provide a full assessment of the implications of this decision for the economy. One way or another, for the time being Malta does not plan on giving up on the title of “blockchain island”, continuing to develop this industry. Venezuela Venezuela is another country that has been known in the world for the launch of the first state cryptocurrency. As President Nicolas Maduro stated, El Petro's cryptocurrency is Venezuela’s way to fight inflation and support advanced blockchain technology. The introduction of state-owned digital money to fight inflation, around million of percent from the very beginning, caused great skepticism among the experts in the community. Opinions of outside and local experts differ. Venezuelan authorities claim that El Petro will help the country stabilize the economy by 2020. However, experts from the IMF and other financial organizations, on contrary, believe that the cryptocurrency won’t be able to save the country's economy. Note that Maduro, announcing the decision to create a national cryptocurrency, explained that its main goal is international trade and bypassing US sanctions. Now Venezuela wants to sell 15% of oil exclusively for Petro. Also, when making settlements in this currency, other countries will receive discounts up to 30%. At the moment, the circulation of Petro in the country is extremely low. To fix this, the Venezuelan authorities intend to switch to Petro some social payments, for example, pensions. At the moment, a lot more interest than Petro residents of the country are experiencing for Bitcoin and Dash. Cryptocurrency experts also express doubts about investing in a currency pegged to oil, which, in the prospect of a couple decades, will only become cheaper. Another opinion is that buying Petro is the same as taking a loan in unstable Venezuela. Anyway, it is not yet clear how Maduro’s ideas will come true. If in the economic sense there are doubts in this, then Venezuela should be considered at least as a blockchain-sandbox in which you can freely experiment with cryptocurrency. Cryptocurrency in Belarus
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Africa is a large region in which a large number of different currencies rotate. The fact is that there are more than 50 countries with official currencies. But by and large, in Africa, we no longer need control from bankers and corrupt officials. Given that this continent has so many countries and economies, as well as borders that can be crossed without prohibitions and sanctions, Bitcoin becomes an ideal means of payment for the entire territory. If we analyze the banking system in different African countries, we can conclude that the scale of the financial infrastructure is very different. For example, in South Africa, a fairly high-quality system is established, and in Central the situation is quite different. Bitcoin is a threat to government currencies, the issue of which is under the control of the authorities. The government has a monopoly on the issue of money, and in this case it has no competitors. There were some problems with the advent of cryptocurrency, which are gaining great popularity throughout the African continent. Perhaps in the near future, bank money will no longer be able to compete with cryptocurrency, because in essence they are less adapted for use. In many ways, this situation is due to the spread of mobile devices throughout the continent. We can observe how some countries are increasingly using cryptocurrency. For example, there is a lot of information about Zimbabwe, Nigeria and the Republic of South Africa. Statistics of Google trends at the request of Bitcoin says that Africa often prevails. From this we can conclude that the interest of the population in this technology is quite real. But there are also many countries where people practically heard nothing about digital currencies, so there is still a lot of room for improvement for this territory. However, we can see as starting points regions such as the Republic of South Africa, Nigeria and some other countries which are going to contribute in widespread distribution of cryptocurrencies. Nigeria Nigeria’s presidential candidate, Atiku Abubakar, is a crypto enthusiast. He has repeatedly stated that he will try to make the cryptocurrency become part of the country's future development. Presidential elections will be held next month, and Abubakar has quite high ratings. In the event of his victory, most likely in Nigeria will begin an intensive introduction of cryptocurrency technology in different directions. Uganda Another loyal country for digital assets. here was opened a platform from the Binance exchange, which realized the possibility of trading cryptocurrency with fiat pairs. This site has become very popular among the people of Uganda who want to buy Bitcoin. At the same time, the government of Kenya (with which Uganda has an active foreign trade) has created the first regulatory framework for the regulation of virtual assets. South Africa The authorities of this country have opened a working group on cryptocurrency regulation. Also, the Reserve Bank of the Republic of South Africa approved a draft law, according to which there is opposition to fraud and protection of investors in the field of cryptocurrency, as well as transactions are monitored and taxes are laundered. The norms of this document equate Bitcoin with traditional financial infrastructure due to de-anonymization of cryptocurrency operations. According to this law, marketplaces and software wallet owners must track transfers and control how their customers use digital assets. In fact, they now perform the same functions on the cryptocurrency market as the traditional banks in the financial system. Therefore, cryptocurrency exchanges, wallet developers, Bitcoin-ATMs, and other companies doing business related to virtual assets should register with the government registry in 2019. And for many market participants this is negative news. Zimbabwe Recently, Zimbabwean authorities have disconnected the Internet throughout the country. This happened for the reason that mass protests broke out in the country against the increase in fuel prices by 150%. However, the population quickly began to master the possibilities of satellite Internet, and as this type of communication spread, the government started to realize that they were not able to prohibit connecting to the world wide web. Not so long ago, Binance employees conducted a public relations campaign aimed at helping victims of a landslide descent in Uganda. The fundraising took place through the blockchain platform of the Binance Charity Foundation, the charity fund of the platform . Also, according to representatives of the foundation, they intend to save one million African children from starvation in 2019.
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Most anticipated events in crypto and blockchain industry Cryptoindustry is steadily progressing, but not in that crazy pace as before. The blame lies obviously on the unending bear-trend. There are many predictions on when market will finally wake up from the deep slumber, but feels like the same thing is happening already for several months. While nobody knows what might happen in the next moment and if the market will just suddenly make a huge leap whether up or down, we can at least place our bet on what events could definitely (maybe even be the turning point for the cryptospace) affect the market. Bakkt platform launch Large financial institutionals entering cryptospace might stimulate the approval of digital assets as global financial standard. NYSE Intercontinental Exchange had announced launch of Bakkt already back in August 2018, but was faced with regulatory limitations. Many major world institutes of different industries – technology, finance and retail trading – have supported this initiative, for example such giants as Microsoft, BCG, Starbucks, etc. The launch might happen in February 2019, and alongside Bakkt the realization of Bitcoin-futures is planned, which will be the connecting part of cryptomarket to institutionals capital. There were several problems with the launch resulting in delaying the launch couple of times, however Bakkt continues on improving. In the beginning of 2019 startup had raised another $182 million from 12 big investors for its future expansion, and now continues on taking in more highly qualified specialists. Upcoming Ethereum Network hardfork Cryptocommunity waits for when finally this hardfork will take place. The expectations of Constantinople are that it will reorganize the Network in terms of scalability and working speed. At the end of January 2019 there was a vulnerability found in the code which led to yet another delay of hardfork. Now it was announced that the hardfork will happen around February 25 and will be divided into 2 forks, the planned Constantinople with the mentioned upgrades and Petersburg with the fixes for found vulnerabilities. All these delays made the cryptomarket more competitive and now Ethereum developers should think up on some new innovative things to recover their advantage over altcoins who are already just behind their backs.
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Bitseven is a reliable tool that gives you the opportunity to trade Bitcoins with leverage from 1 to 100x. Make a profit whether the bitcoin price rises or falls. You can earn up to 100% when the price changes by only 1%. Lightning-fast execution speed guarantees swift and effective transactions. You can also trade on mobile phones and tablets. 1,270,000 users from all around the world have already been satisfied with our service. Our Site: https://www.bitseven.com/en Our telegram RU channel: https://t.me/thecryptotest Our telegram channel INT: https://t.me/themargintrade
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Considering the volatility and instability of the cryptocurrency market, users of crypto assets are constantly looking for ways and means to ensure market stability and reduce price fluctuations. This situation can be solved by creating the most popular and widespread active for ensuring market stability. Most cryptoinvestors and cryptocurrency holders understand that the problem of real support by fiat money for cryptocurrencies is of a great importance. Besides stable coins are the answer for the problem of volatility and market speculations. However, many participants of the market and just cryptocurrency users have doubts that the use as well as the rate of stable coins are tightly tied to national currencies supported by the state, which is contradicting the principles of decentralization. Another equally difficult task is that they do not have a legal basis. Users always have reasons for worrying about the rate stability of such digital currency. Initially the creators of Tether stated that each issued token will be supplied by/from the US dollar. But the practical trading experience indicated that often the rate was less than 1 dollar. To the present time Tether still didn’t conduct/carry out their promised audit so the situation about Tether is still ambiguous. Theoretically stable coins could be some kind of legal bridge in the cryptocurrency trading like the recently launched project from Gemini exchange called Gemini Dollar. Recently, Luzius Meisser, the founder and Board member of the Bitcoin Association of Switzerland said/stated/declared at the conference for Crypto Finances in St.Moritz (Switzerland) that he believes soon people will stop using and paying with tokens. Nevertheless, there is a need for stable coins to remain in the crypto industry.
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Many people have most likely heard about the famous drug lord Pablo Escobar. Several decades ago, he kept all Colombia at bay and, according to Forbes, owned a fortune of $ 3 billion. However, few people know that Pablo had a brother, Roberto, who is currently alive and continues to conduct anti-American activities. Recently it became known that he launched a cryptocurrency project. His main goal is the impeachment of the current head of the United States, Donald Trump. The information portal escobartrump.org indicates that the name of the token is ESCOBAR. It is a stablecoin, which is pegged to the US dollar. The cost of one token is 25 cents. Last Wednesday started the presale, which will last almost until the end of spring. At this stage, it is planned to issue 200 million tokens. It is necessary to say that the project has already managed to face the first difficulties. Its organizers wanted to raise the required amount using the GoFundMe crowdfunding platform at first. After a short period of time, the initiative was blocked, so the creators of the project were forced to create their own token as a result. Roberto Escobar believes that the reason why this happened are the US authorities, who by all means are stalling the development of the project. There is also a possibility that sanctions are going to be imposed against the digital currency ESCOBAR.
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Bitseven is a reliable tool that gives you the opportunity to trade Bitcoins with leverage from 1 to 100x. Make a profit whether the bitcoin price rises or falls. You can earn up to 100% when the price changes by only 1%. Lightning-fast execution speed guarantees swift and effective transactions. You can also trade on mobile phones and tablets. 1,270,000 users from all around the world have already been satisfied with our service. Our Site: https://www.bitseven.com/en Our telegram RU channel: https://t.me/thecryptotest Our telegram channel INT: https://t.me/themargintrade Blockchain comes out of the shadow of cryptocurrency Technological progress has its positive and negative sides, it is accompanied by disputes between its supporters and opponents. However, life does not stand still, if before the blockchain was considered in connection with cryptocurrencies, now the blockchain is increasingly associated with other areas of human activity. The ability to use blockchains outside the realm of cryptocurrency is provided by decentralized Dapps applications. Our subjective perception of the situation is confirmed by objective research by organizations such as the Fluence Network. The study highlights 2018, when the vast majority of existing Dapps began to work. Thanks to these decentralized applications, blockchain capabilities can be used in freelancing, for personal identification and verification of diplomas, in advertisements and in a messenger, in games and cross-border payments .... The study shows that the undisputed leader in Dapps placement among the Ethereum, EOS and TRON blockchains is the Ethereum network. EOS and TRON account for 19% and 8%, respectively, of Dapps hosted on these platforms. Information regarding sources of funding for the development of decentralized applications will be of interest to specialists. The study shows that the development of the lion's share of Dapps is funded by the companies own funds. Financing through ICO and venture capital funds is also popular. Specialists at StateOfTheDApps.com highlight the popularity of Infura services. The capabilities of this company allow integrating a new decentralized application with the Ethereum blockchain.
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Bitseven is a reliable tool that gives you the opportunity to trade Bitcoins with leverage from 1 to 100x. Make a profit whether the bitcoin price rises or falls. You can earn up to 100% when the price changes by only 1%. Lightning-fast execution speed guarantees swift and effective transactions. You can also trade on mobile phones and tablets. 1,270,000 users from all around the world have already been satisfied with our service. Our Site: https://www.bitseven.com/en Our telegram channel INT: https://t.me/themargintrade Cryptocurrency News I BitSeven digest daily BitMAX revealed the reason for its token huge drop BitMAX cryptoexchange has published details of the huge decline of its own BTMX token at the end of last week. According to the company, increased volatility on BTMX market was observed for 31 minutes on March 30 from 08:36 to 09:07 UTC. BitMAX divides this incident into two phases. First phase, which it calls "the formation of volatility" lasted 21 minutes. In this time, due to constant pressure of sellers, the price shrank by 19.2%; trading volume amounted to 3.72 million USDT, 88.2% of which came from the transactions initiated by the sellers. 24.8% of sales were due to forced liquidation of marginal positions. 2nd or “high volatility” phase lasted 10 minutes. At this time, the price fell by 59.3% due to the forced liquidation of marginal positions. 87.4% of sales volume was for such transactions. During this period, BTMX price dropped from $0.175 to $0.05 or for more than 70%. To reduce the risk of similar situations appearing in the future, BitMAX has established new restrictions that apply to the maximum available amount of borrowed funds for the user in one currency and in all currencies for one account at once. In addition, large traders, as well as traders who want to use a large leverage, may be asked to provide more substantial collateral. Next up in our cryptocurrency news release: 2) SEC intends to hire another cryptocurrency specialist and offers a salary of $238 thousand US SEC plans to hire a legal advisor to develop a comprehensive plan for crypto-based securities and digital assets [security-tokens]. Such statement is currently posted on the USAJobs portal. Requirements for the specialist are to understand the federal legislation on securities, also his task will be to understand how the existing legal norms can be applied to digital securities, crypto and new market players: broker-dealers, exchanges and clearing services. Note that he will also be a key representative of SEC in the working group for fintech and a link between the office and the working group on digital assets in the composition of Financial Stability Oversight Council (FSOC). At the same time, he will be providing SEC contacts with regulators of other countries, market participants and the public. A potential consultant must have a doctoral degree in law and be a member of the US Federal Bar Association. Experience in the field - at least four years. SEC offers annual salary in the range of $144- $238 thousand, not a bad deal – feel free to apply if you meet those conditions and at the same time want to try or change SEC’s viewpoint on cryptoindustry. Let’s recall that earlier, head of SEC, Jay Clayton, explained and confirmed that ETH is not a security. 3) Huobi Global, following Binance, is experiencing technical difficulties Just a few hours ago, dozens of users of another popular cryptocurrency exchange, Huobi Global, began reporting serious platform failures, complaining that for some time they could not buy and sell their digital assets. Besides the fact that some did not have access to the orders, it was also reported that even those that had been already set were not working, although following the price movement, they had to be executed. Unlike Binance, which also faced this kind of disruption and acknowledged problems on the platform, but stated the cause of their problem, Huobi Global did not respond to complaints from its users, leaving customers even more disappointed because of their unearned and, what is even worse, lost funds. Binance and Huobi not so long ago were faced with similar technical problems, however, this happened against the background of selling tokens through IEO, when the influx of traffic was too heavy for both platforms and numerous users reported unsuccessful attempts to take advantage of the offer. On the note of so many platforms, even major ones being very suspicious with volumes and now these technical problems of Huobi and Binance, we recommend trying out new but already established and highly praised cryptoexchange BitSeven! #bitmex #bitseven #review
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Bitcoin daily chart: The price has started another attempt on reaching the offering zone 4100-4200. If we take into account the direction of the global trend and the picture on a global scale, then the accumulation from December 13, 2018 is just a correction on the downward movement and the output of an extremely high pushing volume on November 20, 2018, only confirms the fact that while liquidity is directed downwards further decrease will continue. But at the moment, the price continues to test the resistance zone, which has been confirmed by volumes. Accordingly, we should not expect reaching $5000 mark in the near future, because in the zone of 4100-4400 there is a clear disbalance in power in favor of the sellers, as indicated by the volumes. Moreover, an additional sign of weakness is how the price approaches the level for testing resistance again, which means the volumes are low, respectively, the demand has clearly decreased (however the sellers have not yet joined), and the previous price reaction from the level indicates a large number of static selling orders . Consequently, a short from the level of 4100-4200 is currently a priority. In the case of breakthrough and then consolidating higher, it is worth considering buying. Ethereum daily chart: On global scale, there is a clear imbalance of power in favor of sellers. The supply zone of 160-170 initially performed a good support, but after a breakthrough on the highest volume, it now acts as a good resistance. The strength of the level has already been tested twice, and you can see the huge number of static selling orders in there, which also is confirmed by the output of extremely high volumes. Moreover, the followed price reaction when approaching to the level indicates on the colossal domination of bears. Hence, the short is a priority, and the long might be considered only after the breakthrough and consolidation above the offering zone of. But even in there the 190 zone will be the second strong zone of offers, which will also be very difficult to pass through. Litecoin daily chart: For Litecoin, liquidity is upward, but there are several signs indicating on weakness. Opening a long position now is extremely dangerous, and there are a couple reasons for it: 1) The global trend is in the downward direction, 2) the price is being traded in the previous accumulation zone, respectively, it is by itself quite a strong resistance 3) the volumes on the upbars begin to fade after the last pulse, volume divergence is also a sign of weakness. It is also very dangerous to open a short position, because while the trend is locally moving up, it’s not a balanced decision to enter the countertrend at the moment. The most likely development of events on this coin will most likely be that the price will not grow as actively as it was during the past one and a half month, but will begin to accumulate in the previous trading batch zone. Based on how the price will accumulate, (what will be the volumes, what kind of levels will be at the moment, what signs of strength/weakness will be, what spreads will appear) only then you would be able to see the most likely further development of events. Ripple daily chart: For Ripple, a prolonged flat continues. Judging by the global downtrend, and by the fact that the price is constantly pressed to the demand zone, and with each peak of the corrective upward movement getting lower and lower, then it is a little more likely that the price will leave from accumulation downwards. The longer the position accumulates, the more we should expect the price to move after getting out of balance. It is better to enter the transaction after the price leaving the accumulation. 1) New SWIFT competitor - IBM payment blockchain-network
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I found for you 8 differences between Bitmex and Bitseven cryptocurrency trading platforms: 1) Interface 2) Stability of trading platform 3) About altcoins 4) Support 5) Liquidity 6) Funding of positions 8) Fees 9) Liquidation of positions Cryptocurrency market capitalizations - https://www.bitseven.com/en/CoinMarket/Cap Registration on Bitseven - https://www.bitseven.com/Register #bitmex #bitseven #review
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Trend and time frame trading strategy Up until this moment we have learned the basics of graphical analysis using candlesticks. Our next step will be acquaintance with cryptocurrency trading strategies on platforms where we can use our knowledge. Today we will talk about the role of time frames in trend trading strategies. Trading with the trend is a strategy that allows you to make money on the dynamics of the development of the trend. From our previous releases, we know what a trend is. Now we are able to determine the trend channel, we know what factors influence the reliability of the trend line that we have built. Let’s start our study for trading strategy according to the trend, and for this purpose, the basic knowledge we have gained is enough, and the Line drawing tool that the trading terminal of the platform offers to us is quite enough. When determining the trend, select the time frame of interest. It has the following units of measurement on the platform: minutes, hours, days. Using two consecutive minimum or maximum, we determine an uptrend or downtrend. We are looking for a third consecutive minimum or maximum point to confirm the trend we have established. Each of the time intervals selected to build a trend line may show its own trend. On one of them it is uptrend, on the other - downtrend. Using different time frames, you can choose the one which you feel comfortable with. Comparison of information from different time frames can confirm your trend line or sow doubts about its reliability. At the beginning of your career as a trader, analyzing multiple time frames can confuse you. Time frame in which you feel confident, will determine your trader specialization. Concentrating on one of the time frames and neglecting the others isolates you from the whole layer of information necessary to make the right decision. We start the analysis with a daily time frame. The trend, built on hourly time frame, helps to check our forecast and find the points of correction or trend reversal. At thirty-minute intervals, we can find entry points for transactions.
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Analysts believe Bitcoin will be inevitably increasing as it had already reached bottom There are a lot of factors that bear witness that bear (pun was intended) trend for the crypto market is closing to an end. Analyst Phillip Nunn draws his attention to the fact that “Bitcoin is rapidly closing to longest downward price streak in its ten-year history.” And concluded it in: “I am confident in Bitcoin more than ever. This is all due to the Gold rush in the end of 2017.” Another expert, known on Twitter with a handle Moon Overlord, wanted to remind community that there is not much time left until May, when is “halving” expected to happen (e.g. reward for creating a block in Bitcoin network will be 2 times less) so “you have only a couple of months to purchase Bitcoin for this low price.” “Bitcoin has traditionally starting pumping around 1 year on average before its halving date. Next halving is expected in May 2020, meaning the uptrend will begin in May of this year” – he spoke out on the matter. The halving factor will affect the price formation of Bitcoin much earlier before it will actually happen, surely said Willy Woo, expert in technical market analysis. Already back in November 2018 he said that because of anticipated halving the bottom of Bitcoin is expected to be not later than 2nd half of 2019 whereafter cryptocurrency will be back on “rising track”.
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Objective analysis of blockchain advantages and disadvantages The positive effect of the blockchain technology and the world of cryptocurrencies on the modern economy is undeniable. What is needed today is not just blind recognition, but an objective analysis of their strengths and weaknesses. Technological problems associated with the development of these industries and the growing popularity attracting more users, are being successfully handled by developers. To confirm our words, we can take as an example how the principle of Proof-of-work evolved into the idea of Proof of Stake. Let's look at two active directions for the development of blockchain technology and cryptocurrency. On one hand, it is a different kind of platform for trading cryptocurrency. Users can sell, buy, trade it, or make money on its volatility. The market for cryptocurrency futures is as close for approval as it can get. The expected decisions of regulators in this area can significantly expand the range of available tools on these platforms. On the other hand, we are talking about new projects and business solutions, designed in the form of startup and dapp. Community is now getting more aware of the fact that the number increase of real projects is a critical condition for the further development of the crypto industry. An element connecting these two areas is the need to access a source of sustainable funding. A growing number of ordinary users can generate the necessary level of investments. And, like any other investment, it needs legal protection from misuse, starting from the ICO to the stage of accessing dividends. The increasing complexity of technology, the level of knowledge necessary for investing and the cunningness of criminals in the crypto sphere make ordinary users defenseless. A perfect example is the Bakkt platform. The platform only announced its intention to participate in trading crypto currency futures, and scammers had already started sending invitations to users on behalf of the Bakkt platform.
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Bottom not meaning anything or last chance for buying 1 "whole" BTC Bitcoin is called a peering digital money, a means of preserving value, a destroyer of traditional financial instruments and a way of freeing the world from the shackles of state control over the existing fiat system. Given the full potential of the first cryptocurrency and its capability to change the world in the same way as the Internet did over the past two decades, is it worth paying so much importance to the price bottom? According to some analysts, the bottom does not matter at all, and today's low prices may represent the last opportunity to acquire a whole BTC. Cryptoanalyst: bottom means nothing Crytpoinvestors pay a lot of attention to price charts, mood on market and other factors, trying to figure out the bottom of current bear-market. However, taking in account significant potential of BTC and how fast the price increases in bull-market, finding price bottom might lose its value and result in investors missing the opportunity on purchasing crypto while the prices are low. Popular cryptoanalyst CryptoMento doesn’t give much attention into looking for price bottom and proposes a couple of his price values, that have meaning from his perspective. Currently BTC is fluctuating around $3600 mark, the last lowest point was around $3200. Even with the current price of $3600 if BTC drops to $2000, but in the end it will reach $10000 or crazily $740000 as a Chinese millionaire Zhu Fa of mining pool Poolin predicts, then the difference for buying the coin now and later will be $1600, of missed out profit. While if BTC will suddenly bounce from the current price, not buying coins on the point they are today might end up more unprofitable. It is also worth noting, that when BTC reached its peak of $20000, many participants of cryptocommunity were disappointed on missing out the moment for buying BTC much cheaper. Whereas while there is such a chance now, the anxiety of the market stops investors on taking the risk. But this exact moment might be the last chance for regular users to purchase the "whole" 1 BTC. Cryptoinvestor: last time for buying "whole" BTC There is a very common complaint in the community, on the topic of BTC on its peak, is that many investors weren’t able to purchase BTC on the price of $10000 and switched to altcoins. People learned through experience of working with fiat money that they are feeling more comfortable when working with even numbers. That is why the change-coins are just oftenly being left out or used as a tip. This was their reasoning for why 00.1 BTC was much less appealing than for example 1000XRP, despite their objective value. Looking on the current prices many people could definitely afford themselves to buy “whole” 1 BTC. However, according to the opinion of a trader, investor and consultant Josh Rager this might be the last chance. To his Twitter post he attached a chart demonstrating a possible direction of BTC movement. He believes that after 2021 BTC will reach the point, which will be too high for a regular trader to afford. Will the price really reach his predicted high, is the bottom point not important (at all) and will people miss out on their last chance of obtaining a “whole” 1 BTC are definitely tricky questions and the risk factor will always follow this space, no matter how much it will change. For now all the eyes are focused on the upcoming Bitcoin-ETF which, when finally approved, should attract many major financial institutionals, with their enormous capitals and that might be the turning point when the bull market will start on prevailing.
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BitSeven crypto news digest daily 1) Starbucks will start accepting Bitcoin through Bakkt platform By the end of 2019, the well-known Starbucks chain of coffee shops plans to allow visitors to pay for their orders with cryptocurrency, which through the Bakkt platform will instantly be converted into Fiat. This was reported by The Block referring to sources familiar with the situation. It is assumed that initially the opportunity to pay with Bitcoins will be available only to customers in the United States. At the same time, digital assets will not appear in Starbucks reporting documents. At the moment, the company from Seattle is developing an appropriate application. In case of successful completion of the project, Starbucks will become the first outlet on the platform. According to the newspaper, Bakkt agreed to transfer Starbucks a “disproportionately large” share of its enterprise, although the chain of coffee shops did not invest in the development of the site. As noted, the cooperation is based on mutually beneficial conditions, specific figures, however, were not announced. It is noteworthy that similar information had already appeared in the press in the summer of 2018. Then the leadership of Starbucks stressed that the coffee shops will not accept cryptocurrency directly, but will allow users to convert Bitcoin to Fiat through a special application. Let’s recall that in August 2018 Starbucks was one of the original participants in the project to create the Bakkt platform, which, in particular, will offer Bitcoin futures to institutional investors. Initially, the launch of the platform was planned for last fall, but was postponed several times. But the launch was confirmed a long ago so it’s just a matter of time on when it happens. 2) Buterin compared Bitcoin with a calculator, and Ethereum - with a smartphone In an interview with Business Insider, Ethereum co-founder Vitalik Buterin said that the creation of ETH was an attempt to solve the problem of limited Bitcoin functionality. According to Buterin, Bitcoin can be compared to a calculator, which performs one function and does it well. At the same time, Ethereum is more like a smartphone, which supports a number of applications that can perform a variety of tasks, including the same calculator. “I began to understand that there are a lot of interesting things that can be done with the help of blockchains, in addition to P2P currency. And this is something that many people started to understand at the same time,” – he commented.
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Japanese candle “Star” – the basics Today we will continue our studying of Candle Analysis and the new topic will be the combination of Japanese candles "Star". The “Star” on the price chart is a candle with a small body, separated by an easily visible gap in the chart from the candle with a large body preceding it. The following types of Japanese candles can play the role of a "Star": spinning tops, hammers and doji. This opening is called "gap". A gap describes such a situation when a gap arises between the closing price of one trading interval and the opening price of the following trading interval. One of our subsequent publications will be devoted to this phenomenon. Today, we need to learn that the “gap” in trading is the result of a abrupt change in the asset rate. The combination of Japanese candles "Star" corresponds to the following characteristics: the presence of a gap between two candles, the imposition of shadows of two candles, the position on the top and at the base of the chart, the color does not matter. Let's look at the following variations of the “Star” combination, like “Morning Star” and “Evening Star”. The “Morning Star” is located at the base of the chart, made up of three candles, the first two candles are the star itself, the third candle of white or green color covers a significant part of the first candle of red or black color, indicating a trend change at the base. The “Evening Star” is located at the top of the chart, it consists of three candles, the first two candles are the star itself, the third candle of red or black color covers a significant part of the first candle of green or white color, indicating a trend change at the top of the chart.
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Why XRP can dethrone Bitcoin in 2019? Despite the volatile 2018, Ripple’s XRP copes up with the bear market better than others. This coin has been in the spotlight for quite a long time. There are now even some rumors that XRP is ambitiously planning on gaining some lead over other coins and start “bull’s ralley” for the top place of cryptocurrencies. Ethereum was a serious opponent for XRP, however the stablecoin was able to take over its place in the coin capitalization rating. And it seems like it isn’t planning to stop as it marks its next target as the crypto King itself, Bitcoin. So let’s look into what are the main reasons and what are the chances of XRP’s success? Cross-border payments effectiveness The ability to provide stable cross-border payments is the main advantage for the growth of XRP. The more banks and platforms switch to XRP, more chances will this coin have to take down BTC, especially with xRapid tool appearance (used by XRP). So there is now a belief that Ripple tools for cross-border money transfers are working faster and cheaper than Bitcoin. “Bitcoin 2.0”? Expensive cost of BTC, slow transaction speed and supply limit hold back its potential for cross-border payments. Unlike for Bitcoin, Ripple’s XRP might have more practical ways of applying. Many in cryptocommunity believe that it is Bitcoin 2.0 and have it preferred over BTC for not having problems that BTC is facing. XRP in this case can service cross-border payments reliably and smoothly. Passing Ethereum as great motivation Despite the fact that Ethereum tries whatever means available, it wasn't able to regain its position and all its efforts ended up as a failure. Before when Litecoin was 3rd in market capitalization, Ethereum and Bitcoin were two unreachable giants, always occupying two upper seats. Now we can say for sure that low amount of possible ways for daily usage of these “main cryptocurrencies” had let them down and XRP started its climb forward. With that being said many believe that overtaking Ethereum is already admirable achievement for XRP and dethroning Bitcoin might be quite a realistic task. XRP holds its ground despite values decline Surprising is the fact that the difficult market situation and might of Ethereum didn’t stop XRP on taking second place (which might basically count as leading) and make stable ground on this position. Now taking in account of such a competitor in cross-border payments like Stellar Lumen, it confidently holds on its second place. 2019 might be the deciding year of crypto space. Undoubtly Bitcoin will remain on the throne for some time, however XRP has its momentum going and has almost all the necessary background set for XRP to make attempts on leading the market.
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Popular for its unique and strongest security, Samourai wallet posted on their official Twitter that they had to part with the underlying security features. This decision was made or rather they were forced to make this decision upon Google’s strict policy. That’s what they posted on Twitter: “Sad but true, @GooglePlay is forcing us to remove Stealth Mode, SMS Commands, and SIM Switch Defense features as they transition to becoming more of a "Walled Garden”. Further, in their blog they announced they will release a new version with the disabled aforementioned functions, which were integral part of the wallet since the launch in 2015. At the time of the release and for quite some time Samourai was one of the best security solutions for the cryptocurrency trading. It was an innovation in security while the other wallets that kept appearing were basically the copy of each other. Even despite that Samourai “have [a] proven record of helping users transact safely” Google decided to force Samourai for disabling their features. For example, the stealth mode proven to be useful for people living in dangerous areas and therefore allowing users to make their transactions in a more stealth way. The remote SMS commands functions allowed users to delete the wallet from their device remotely in case the phone was lost and before someone could use this opportunity. The SIM Switch Defence function alerted users about the SIM-swapping attack as the app warns the user about the upcoming attack. The company said that they tried coming up to an agreement with Google, but they received a rejection. So now they are looking for an alternative method as the lost features were essential part of the wallet’s security.
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New Zealand-based cryptocurrency exchange Cryptopia has announced it has “suffered a security breach which resulted in significant losses.” The exchange is currently offline as they work with police to investigate the hack. Cryptopia is a leading digital asset exchange in New Zealand with over two million users. The first tweet that Cryptopia sent out regarding this outage came at 06:55 UTC on January 14th, although at that time Cryptopia did not explain the reason for the “unscheduled maintenance” The Winklevoss Twins were recently interviewed on Fortune’s online show “Balancing the Ledger” regarding all things crypto and covering topics such as the Gemini Dollar and the SEC, but the burning questions was: are they the biggest holders of Bitcoin in the world? In the interview, Tyler and Cameron Winklevoss remain bullish on crypto. The longtime fans of crypto and Bitcoin, have just kicked off a new marketing campaign titled “Revolution Needs Rules,” featuring a full-page New York Times ad and Wall Street billboards – all to promote the twins’ crypto exchange, Gemini, and their newly launched appHYPERLINK "http://fortune.com/2018/12 Tyler said “The idea is that companies that build on top of things like Bitcoin should have regulation that’s thoughtful and that doesn’t stifle innovation. People believe in the dream of crypto, they just don’t know how to engage in it without getting burned. We’re here to say Gemini’s a place you can do that.” That’s why Gemini is adding the same safeguards and consumer protections as other financial institutions, and creating a version of FINRA, the self-regulated body that oversees securities dealers. The twins were especially keen to talk stablecoins, and their own version, the Gemini Dollar. Cameron said that stablecoins amount to “dollars on the blockchain,” and can be used for paying for other crypto services or for issuing dividends. Additionally, as at least 60% of U.S. $100 bills are held overseas, they argue stablecoins are an easy way to hold US dollars abroad. Pushing Bitcoin as digital gold, Cameron Winkevoss said “The only thing gold has over bitcoin is a 3000 year head start.” But the burning question in the interview was confirming the claim that they are the biggest Bitcoin holders in the world – except perhaps for Satoshi whose wallets haven’t been touched for over eight years. Is that true? Yes it seems – although in a true moment of sibling rivalry, Tyler and Cameron each claimed to hold at least slightly more Bitcoin than the other.
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1) Overstock CEO: Blockchain will make government non-corrupt Creator and CEO of American online retailer Overstock Patrick Byrne announced, that blockchain can make government “super-effective” and unbribable. Cryptoevangelist shared his thoughts in an interview to a publisher MarketWatch. According to Byrne, now it is a turning point for public services when changes are necessary for the structure at a fundamental level. And Blockchain can be the best tool for this. Entrepreneur proposes to implement the concept of “government as a service”, where various blockchain applications and companies could be used for providing public services. Byrne also stated, that such an approach would make state administration “super-efficient” while not requiring a lot of money. In addition, it would be impossible to bribe civil servants in such state of things. “We could’ve come to Venezuela with 6 laptops and not only create a functional community, but most likely one of the most advanced government system in the world. We would be able to realize a Central bank on a laptop. Everyone in Venezuela would download free app and suddenly they would have had most advanced monetary system on the planet,” – explained Byrne. He also told, that Overstock has plans on making a deal with several sovereign countries for modernization of state administration system in the near time. Note that in January Overstock announced on paying part of taxes for business expense in state Ohio in BTC. That time Byrne stated, that government acceptance of cryptocurrency alongside creating a crypto-friendly legislation is the best way to keep their leadership in developing global economy for USA. At the end of last year famous American economist Kenneth Rogoff stated his opposite opinion of perspectives of crypto usage in state administration and world economy. Expert believes, that joint global regulation of economic area will ultimately seek to eradicate all the private created systems created. 2) QuadrigaCS lost another 103 Bitcoins of a mistake Infamous Canadian exchange QuadrigaCX, that owes its users around $190 million, last week due to a mistake had lost even more, around 500 thousand CAD or $370 thousand. Auditing company Ernst and Young (EY) reported, that QuadrigaCX had made a slip up and transferred more than 100 BTC on a cold wallet that can’t be accessed anymore.
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Bitseven is a reliable tool that gives you the opportunity to trade Bitcoins with leverage from 1 to 100x. Make a profit whether the bitcoin price rises or falls. You can earn up to 100% when the price changes by only 1%. Lightning-fast execution speed guarantees swift and effective transactions. You can also trade on mobile phones and tablets. 1,270,000 users from all around the world have already been satisfied with our service. Our Site: https://www.bitseven.com/en Our telegram RU channel: https://t.me/thecryptotest Our telegram channel INT: https://t.me/themargintrade Sometimes in the world of cryptocurrency beautiful stories with a little disappointing ending happen. The other day such incident had occurred in Hong Kong. The local bitcoin billionaire Wong Ching-Kit decided to make a generous act. After having climbed on the roof of one of the buildings in the poorest district of Hong Kong, he started throwing out banknotes in nominal value of 100 Hong Kong dollars (about $13). People started gathering in front of the building in advance, as the young man had posted about the event on his Facebook page beforehand. He promised for the people coming to the event, to make a money rain. According to the organizer of the event at one point the cash will begin to drop from the sky. At the promised hour quite a lot of people, who wanted to improve their financial situation a bit, gathered in front of the building. It is not exactly known how much money had the cryptocurrency billionaire thrown out. According to mass media reports, in that day the Hong Kong citizen said goodbye to more than 13 million US dollars. A small period of time after the start of the event the police had arrested this man. During the search a small sum of money was found. Wong Ching-Keith promised to hold another such an event soon. Next time there will be given out free coupons for lunch in a local restaurant. However no one knows now when the new event will occur, because now the young man is under arrest and it is not known what charges will be placed against him from local law enforcement authorities.
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Ethereum’s expected Constantinople hardfork has just been delayed Ethereum’s long-anticipated Constantinople upgrade has just been delayed after a critical vulnerability was discovered in one of the planned changes. Smart contract audit firm ChainSecurity flagged Tuesday that Ethereum Improvement Proposal (EIP) 1283, if implemented, could provide attackers a loophole in the code to steal user funds. Speaking on a call, ethereum developers, as well as developers of clients and other projects running the network, agreed to delay the hard fork – at least temporarily – while they assessed the issue. Participants included ethereum creator Vitalik Buterin, developers Hudson Jameson, Nick Johnson and Evan Van Ness, and Parity release manager Afri Schoedon, among others. A new fork date will be decided during another ethereum dev call on Friday. Discussing the vulnerability online, the project’s core developers reached the conclusion that it would take too long to fix the bug prior to the hard fork, which was expected to execute at around 04:00 UTC on Jan. 17. Called a reentrancy attack, the vulnerability essentially allows an attacker to “reenter” the same function multiple times without updating the user about the state of affairs. Under this scenario, an attacker could essentially be “withdrawing funds forever,” said Joanes Espanol, CTO of blockchain analytics firm Amberdata in a previous interview with CoinDesk. He explained: “Imagine that my contract has a function which makes a call to another contract… If I’m a hacker and I’m able to trigger function a while the previous function was still executing, I might be able to withdraw funds.” This is similar to one of the vulnerabilities found in the now-infamous DAO attack of 2016. ChainSecurity’s post explained that prior to Constantinople, storage operations on the network would cost 5,000 gas, exceeding the 2,300 gas usually sent when calling a contract using “transfer” or “send” functions. However, if the upgrade was implemented, “dirty” storage operations would cost 200 gas. An “attacker contract can use the 2300 gas stipend to manipulate the vulnerable contract’s variable successfully.” Constantinople was previously expected to activate last year, but was delayed after issues were found while launching the upgrades on the Ropsten testnet.
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Bitcoin daily chart: The price is traded in flat between 3800 and 4100 levels. There is confirmation in volumes on 4100, that offer is very serious and this resistance level itself has been in effect since last year. A pushing volume is observed on 3800 level making the demand zone quite strong mirror support, however, when approaching to the level there is no increase in volumes, which might indicate either on insufficient demand and no pressure from sellers, or the price does not satisfy the bears and they will be active only on higher price limits. Most likely sellers will be actively push the price down if there will be the repeated test of 4100 and the probability of going down to 3500 is still very high. Breakthrough and offering zone 4100-4200 consolidation will mean change of liquidity towards buyers and the long positions scenario will be in effect. Ethereum daily chart: The price is in flat after the correction of local upward trend. On $128 there is a very good mirror demand zone, that the price could not break yet. The price is also not allowed higher than $143, it is the first offering zone constantly being bought out. On $153 there is a strong resistance level that might be tested before possible down movement. Overall there is a high possibility of testing offering zone 153-160 and from there moving down to $105. Breakthrough and consolidating higher than $170 might lead to possible movement to $200, however this kind of scenario is highly unlikely. Litecoin daily chart: Litecoin confidently has its looks on the upper zone, liquidity is clearly directed upwards, and you can see on the upward trend channels to what extent demand exceed offer. The price is now being corrected, and on low volumes on the downbars it can be said, that the demand didn’t disappear anywhere, and in turn, on the upbars you can see the power, especially it is applied to the last volumes impulse, that had overcome previous offering zone. The nearest serious resistance zone is at $64, which the price could easily reach after a small trading batch above the $53 support level.
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SBI Holdings located in Tokyo and providing financial services, recently signed up an agreement with Russian-Japanese Investment Fund and Russian Direct Investment Fund on investing in its subsidiary SBS Bank. News about this deal are important for the cryptocommunity, because of Ripple being a partner of SBI. Signed by Shinzo Abe, Premier Minister of Japan, and Vladimir Putin, President of Russia, during their meeting, this agreement is meant to expand Ripple's integration into markets of Asia. At present, SBI is in process of relaunching their business model in order to transform into a universal bank, providing clients with the most complete and relevant range of services, based on modern financial technologies. In January of last year money transferring Network as well as cryptocurrency, Ripple got partnered with SBI Holdings for introducing Ripple as a payment on Asian markets. Further in June 2018 CEO of SBI Yoshitaka Kitao launched a digital currency platform in their bank. At launch XRP was only supported currency, however BTC and BCH are in plans for adding. In addition, the holding structure has a division that investigates and invests in extraction of digital currencies. Bank also provides services designed for various cryptocurrency exchanges and ICO. “Not only does Ripple have a clear business plan, XRP is also faster, cheaper and more scalable than any other digital asset. I firmly believe XRP will become the global standard in digital currencies,” – commented Kitao. The Russian-Japanese cooperative business is aimed on creating smart cities, green technologies, using innovations and developing industry. The emphasis of Japanese-Russian agreement is on expanding export base of Russian Far East, and any other initiatives that will strengthen relations between the two countries. Let’s recall that this month Euro Exim Bank highly rated speed and security of transactions in the RippleNet.
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BitMEX Bitcoin Exchange is going to deactivate trading accounts of customers from the United States and the Canadian province of Quebec, reports South China Morning Post. The publishment notes that this will help for regulators to better fight against unlicensed cryptocurrency platforms. In particular, the Quebec financial regulator (Autorité des marchés financiers, AMF) at the beginning of 2018 notified the stock exchange of the need to stop providing service to the residents of this province, since the trading platform does not have the necessary permits. “BitMEX is not registered in AMF and, therefore, has no right to operate in the province of Quebec,” said the director of public relations of the Canadian financial regulator. “We notified the company that their activity is illegal.” A representative from AMF added further that all user accounts from Quebec were immediately closed. The US Securities and Exchange Commission (SEC) has not yet commented on the information related to BitMEX. The head of the exchange, Arthur Hayes, had also declined to comment. The publication notes that over the past year, the total trading volume of BitMEX was $ 965 billion. The fees income allows the stock exchange to rent the entire 45th floor of the Hong Kong Cheung Kong Center with a floor area of 20 thousand square feet. According to the South China Morning Post, the rental price is $ 600 thousand per month. Let’s recall that at the end of last year, BitMEX deactivated Ton Weiss's account on the assumption that he is a US citizen.
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BitSeven crypto news digest daily – week 13 1) One of the top exchanges Coinbene possibly hacked According to numerous online reports, Coinbene cryptoexchange, included in the top 20 largest trading volumes, could have been compromised, as users reported who had problems with depositing and withdrawing coins. Despite the fact that Coinbene did not give any preliminary announcements about the technical or other work, in response to one of the customers, exchange said that it had to work on problems of depositing and withdrawing coins. "To improve the user experience, CoinBene updated the platform’s wallet on March 26, 2019. The maintenance will affect deposit and withdraw functions,” – said the official Twitter post. However, some users of social networks do not simply believe these statements, suggesting that the cryptoexchange was hacked with total losses of about $40 mill, referring to the fact that ForkDelta is already filled with tokens for selling. In any case, stopping offering their service of all wallets without any prior announcement, puts Coinbene in extremely strange position and only make you anxious about situation. Today it was also reported that DragonEx cryptoexchange, which was boasting that it is “a safe and stable platform for BTC and ETH transactions,” announced on its official channel in Telegram about being hacked. So much for security confidence. As a result of the attack, DragonEx lost control over all crypto assets of its users. The exact amount of damages suffered by DragonEx is currently unknown. 2) Rakuten cryptocurrency exchange will begin work in April Rakuten has changed the name of its cryptocurrency division "All Bitcoin Co., Ltd." to "Rakuten Wallet Co., Ltd." and said that it had registered with the Kanto Regional Financial Bureau as a digital currency exchange company. The company believes that in order to provide high-quality crypto payment methods, it is necessary to ensure the proper exchange function and a number of clients, including foreign ones, and they wanted to provide such service already for a long time. "We are pleased to announce that our registration in the Kanto Financial Bureau was completed as a company for the exchange of virtual currency in accordance with the law," – was published in statement on the company's website. After the end of consolidation period, the management of Everybody Bitcoin confirmed that cryptoexchange in its current form will stop working at the end of March. “Rakuten Wallet as a company that exchanges virtual currencies will contribute to steady growth of the market. [The Service] will strive to increase the reliability and quality of the services offered so that a greater number of customers can use Rakuten Wallet, being sure of its safety,” - the report says. It also became known today about soon launch of the Taotao cryptoexchange, the shares of which are owned by the Japanese division of Yahoo. It is quite interesting that for entering cryptomarket, Yahoo! Japan have chosen the same method as Rakuten - instead of developing from scratch, the company acquired the finished product, which already has the necessary licenses from local regulators. 3) Andreas Antonopoulos: Coinbase crypto-exchange is doomed to extinction In the latest podcast “Let's talk about Bitcoin!” Cryptoenthusiast Andreas Antonopoulos entered into a discussion about how the modern financial infrastructure will change under the influence of the spread of cryptocurrencies. "Digital money will be the only cash available in the future," – he started the discussion. One of the participants of the conversation, Jonathan Mogan, co-founder of Layer2Labs, said that he believed one of the decisions of the Southern District of New York court contained the words that "Bitcoin is an email for money” is a turning point for cryptosphere. According to Mogan, this thesis is very well received and implemented in practice by the largest US cryptotrading company, Coinbase. Adam Levin, the founder and head of Tokenly.com, picked up the topic about Coinbase and noted that if a person starts working with such a centralized cryptoplatform, there will be a high chance of information that should be 100% hidden, to be revealed. As a result, information can "go beyond Coinbase." Antonopoulos explained, that after cryptospace will reach a certain level, the question about a need for cryptoexchanges will arise, as such exchanges in their current operating state carry only some of the processes of the finance industry out. Further, Antonopoulos noted that expanding the range of services for cryptoexchanges shouldn’t be a priority, and that such sites had a chance of survival. According to the crypto enthusiast: "Coinbase is a cryptofriendly bank, but it is still a bank, with all the ensuing consequences for keeping the transaction secret."
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4) Bloomberg warns of Bitcoin going down While the top 100 cryptocurrencies are in the green zone and show signs of further growth, Bloomberg believes that the public should not be too hopeful, since Bitcoin can go down. In the recent report Bloomberg stated that "technical indicators signaling long-term consumer demand for Bitcoin are deteriorating, potentially showing that sales pressure may increase." In recent weeks, the price of Bitcoin has remained steadily below $ 4000, having made several unsuccessful attempts at a breakthrough. Despite the fact that the average daily price movement of Bitcoin has become positive, the resistance level of $ 4000 prevents the digital asset to go higher, and the inability to break through this level will cause prolonged pressure from sellers. Bloomberg Intelligence analyst Mike McGlone commented on the dynamics of Bitcoin prices: “The industry is ready to take a path to lower prices. The conditions are similar to November, just before the collapse. The courses are consolidating at closer intervals.” EToro senior analyst for the market, Mati Greenspan, recognizes that the Altcoins demonstrate an upward movement and admits that their time has come: “Approaching the climax of cryptowinter, we see that in recent weeks, some of the altcoins show impressive results. Now we are experiencing a period that industry insiders like to call the Altcoin season.”
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Bitseven is a reliable tool that gives you the opportunity to trade Bitcoins with leverage from 1 to 100x. Make a profit whether the bitcoin price rises or falls. You can earn up to 100% when the price changes by only 1%. Lightning-fast execution speed guarantees swift and effective transactions. You can also trade on mobile phones and tablets. 1,270,000 users from all around the world have already been satisfied with our service. Our Site: https://www.bitseven.com/en Our telegram channel INT: https://t.me/themargintrade
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Forever lost Bitcoins For its 10-years history there were around 10 million Bitcoin coins lost and there are many different and crazy rumors of where they are stored now. Still the most unbelievable one is about the coins of mythical Satoshi Nakamoto. Cryptography is undoubtedly is extremely good and useful. But what if for your carelessness you will lose your wallet key? Hash-function SHA-256 is a good protection of Bitcoin network and not on an occasion is called Secure Hash algorithm. Nakamoto was very serious on the matter of security, because Bitcoin mining and math-connetcion for public key and cryptocurrency address are based on SHA-256 algorithm, which truly is impenetrable. There are not any of the same keys – it will be easier to find a gold coin on the ocean bottom than make a right guess for the key. So the probability of finding lost keys is pretty much 0. Cryptospace has seen decent amount of intriguing stories about lost coins. 1) James Howell fights garbage This one is famous and already a classic. There was a guy looking for BTC in a pile of garbage. As strange and unbelievable as it sounds it’s true, but now he changed his modus operandi for BCH. One time Howell (maybe it was one of his colleagues) had thrown away his HDD with mined 7500 BTC, on one of the garbage yard in Wales. His attempts on recovering his treasure ended up in a failure, but he still believes one day finding his disk. 2) Wired deliberately destroyed 13 BTC The story of tech resource Wired is as odd as the 1st one. In 2013 publisher Wired received a device from Butterfly Labs company, which was apparently a BTC miner. It was the time when you could easily mine BTC on your home PC. Employees of the resource were able to mine 13 BTC, but couldn’t find a way to use the coins. There were many suggestions, but they couldn’t come to a compromise so they decided to destroy coins. We can see that Wired in this case had get rid of their coins by their own will, not like in the first situation. We can only guess if they are now regretting that decision (these coins might’ve added into their pockets quite a sum). 3) Elon Musk simply forgot Is Elon Musk planning on a journey on/to Mars and “to the moon” flight, he hasn’t confirmed yet. With the boom of crypto industry many are interested what is his opinion of this space and does he actually have any types of digital coins? But in November 2017 there was a tweet posted that one of his friend had sent him some crypto. Musk in turn tweeted mostly as a joke “Wanna buy some bitcoin” adding an animation image to his tweet. His post started lots of rumors and funny comments to his tweet. But Musk doesn’t remember where are the coins, which shouldn’t be that surprising. To be fair he wouldn’t even know about these coins existing if he wasn’t told. 4) Mistake of fees and transaction amount Did you ever have a question if there is a limit for fee amount of a transaction, then you will be very interested in what happened to this person. In 2016 a Twitter user with a handlename @ActiveAdviceBTC made a post causing a huge uproar in the social network: “Seems like some fool had sent 0.0001 BTC with a fee of 291241 BTC instead of vice versa.” This BTC transfer is the example of the worst thing happening that could you even imagine. The user sent BTC in amount of 5 bucks and paid the commission in amount of a house price. And let’s remember that there is no way to revert the transaction so the instant he confirmed the transfer – his money were lost. 5) Satoshi Nakamoto and hundreds of thousands of Bitcoins Satoshi Nakamoto’s BTC are as mythical as his person is. Nobody knows how many does he have, and where are they stored. Some rumors say that he had at some point 1 million BTC, but had supposedly destroyedhis private key.
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A very unusual case has recently happened on the Bittrex cryptocurrency exchange platform. It was noted that the anonymous trader created two large-value transactions: 280 million Status Tokens (SNT) and 28 million Power Ledger (POWR). The assets were transferred to a private account, so rumors appeared in the community that this could be the result of a hacking exchange. If we recalculate the amount of coins in dollar equivalent, then it turns out that 279,999,913 SNT tokens are about $ 6.58 million. And 27,999,976 POWR tokens are about $ 2.77 million. The transactions were noticed by the Whale Alert robot working offline for the purpose of tracking large cryptocurrency transfers and posting information about them on the thematic page on Twitter. The community showed interest in this event, and participants began to lead discussions on the Reddit pages, many suggest that the coins were stolen by hacking. Perhaps one of the reasons for this opinion is the recent news about the breaking of the cryptocurrency exchange Cryptopia, when hackers managed to steal a fairly large amount. Tokens from the Bittrex exchange were sent to a wallet that contains many other assets, totaling $ 23.5 million. Some users believe that it could be just a major purchase of assets that are promising in the investor’s opinion. However, such a large limit on withdrawal is very unusual for a cryptocurrency exchange. Bittrex employees haven’t yet commented on the incident described.
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Hammer vs Inverted hammer. Pivot points and levels, and Elliot Waves In the profession of a trader, systematic and consistent work is needed to broaden their knowledge and improve their skills. And today we will get acquainted with such concepts as Pivot points and Elliott waves. Pivot points are trend reversal points. Pivot levels. For an easier understanding of this term, let's say this - these are the levels of support and resistance to the dynamics of the price trend. We enter the transaction at the support level and leave it at the resistance level. To determine the Pivot level, we need prices: minimum, maximum and closing price from the previous period. Elliott Waves is a concept of explaining the wave-like development of a price trend. Waves that give impetus to the trend development are denoted by numbers. The waves that determine the correction of the trend line are denoted by letters. In this case, waves 1 through 5 are impulses, and waves a, b, c are corrections. The following Elliot rules must be followed: Wave №2 = 61.8% to 99% of the wave №1 Wave №3 is more powerful and longer than all the others. Wave №4 = 38.2% of the length waves №1 and 3. Wave №1 = №5. The rule of alternation. Correction a, b, c = 61.8% of the waves from №1 to №5. And now let’s go back to the candlestick patterns. Today we compare the form of the "Hammer" with the "Inverted Hammer." First we will talk about a method price trend called Price Action. The combination of “Hammer” candles is a signal of a trend reversal. It consists of three candles. The first red candle is located below the bullish trend. The second candle of red or green color signals an upcoming trend reversal. The lower shadow of the signal candle is two times longer than the body of the candle. The upper shadow of the signal candles is practically absent. The third green candle confirms the trend change. The candle shape “Inverted Hammer” in contrast to the “Hammer” has not a long lower shadow, but a long upper shadow and has practically no lower shadow. It also signals a possible downward trend change to an uptrend. The first candle is red, the color of the second signal candle is not important, the third candle must be green. “Hammer” and “Inverted Hammer” are forms that signal a possible trend change soon.
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Crypto news digest week 9 1) European regulator supports the introduction of new rules in the crypto industry The head of the European Securities and Markets Agency noted that they are favoring on introducing new rules in the crypto industry. This was announced by Steve Maijoor, the head of ESMA, at a Belgian FINTECH conference. He stressed that he sees the need to regulate digital assets, as this should help cryptoinvestors. In addition, Maijoor supports stricter anti-money laundering requirements. He believes that AML should be used not only for crypto-fiat exchange, but also when converting one digital asset to another. According to Maijoor, without updating the regulatory framework, digital currencies are likely to go beyond securities laws. He noted: “We are concerned that the lack of a current regulatory framework exposes cryptoinvestors to risks. Same rules cannot be applied to all cryptocurrencies, an individual approach and evaluation is necessary.” Another head of the European regulator proposes to apply the new requirements to the ICO. Maijoor also added that EU governments agree that digital currencies need to be regulated if they make a profit. 2) Hardfork Constantinople finally activated on Ethereum Network On February 28, on the block # 7280000, finally was activated Constantinople, protocol update of second in capitalization cryptocurrency Ethereum. “Network upgrade completed .. so far so good”, - posted the Twitter account Etherscan.io confirming successful installation. According to EtherNodes, 19.9% of the total number of Geth clients use the new software version. Simultaneously with Constantinople in the Ethereum network, the hardfork Petersburg was activated. Its task is to disable the EIP-1283 protocol, in which problems with vulnerabilities such as Reentrancy were identified. This was the exact reason of another delay of the fork supposedly should’ve come in January. The daily issue volume will now be at the level of 13,400 ETH, the extraction time per unit will be 14 seconds, and the reward for it will be reduced from 3 to 2 ETH (EIP 1234). Ethereum inflation rate will be about 4%. Constantinople is the second stage of Metropolis hardfork (the first is Byzantium, which lowered the unit award from 5 to 3 ETH). Other changes in the Ethereum network include: - EIP 145 - improving the efficiency and speed of the blockchain by adding Bitwise switching mechanisms to the Ethereum virtual machine; - EIP 1052 - improving network usability for developing smart contracts and simplifying certain operations in Ethereum code. Note that the activation of Constantinople was planned to be held last fall, but each time before the update of the protocol, the developers found different bugs. 3) Swiss bank Julius Baer provided customers access to crypto
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While the crypto market is slowly continues to grow, the security problem are far from having a decent solution and remain a bane of this space. There are still so many scams, speculations and money-laundering schemes on the market. But is there a way for blockchain as technology, ICO as a financial tool and cryptoinvestors as community to compromise into that one needed solution? Today we would like to talk about the reasons why it is happening and possible means for improvement. Bubble experience According to the Gartner report, blockchain haven’t reached yet the stage of trough of disillusionment. This means, that skepticism increasing and several-fold decrease of unconsidered investments is normal in condition of that the technology keeps on developing and overcoming its limitations. That also means not all blockchains are going to stay alive, but the ones who will stay, are going to take a solid ground maybe even be taking lead on the market. Similar situation was observed during dot-com bubble. Investors with overly high expectations turned blind eye on traditional metrics like comparison of price and profit, and were making their decision believing into technology and FOMO syndrome, which led to bubble creation on securities market. And of course there were some people who wanted to abuse this situation as the opportunity for their scamming tactics. After bubble popped not many were able to stay afloat. You probably won’t be able to even recognize the names of fallen ones, but the winners are well-known to the whole world now, Google, Amazon, Ebay. Online-stores have used already existed successful business-model – teleshopping and catalogue sale. Amazon and others had intelligently implemented it automating orders, payments and logistic. Causes of over-scamming What we can observe on ICO market is the repeat of dot-com history. A lot of hype, "foolish” money and scam. Which will lead to bubble inflating and then popping. For not falling into scamming scheme you have to understand the reasons of why certain project can possibly engaged in suspicious activities: • Intended scamming. The goal of ICO organizers is not for making real product but just to raise money and then leave without a trace. • ICO as a victim itself. ICO organizers have good motives, however they are being hacked and all money from investors are transferred into another wallet. • “Foolish” money. The product has a weak concept, terrible realization, but there are still people blindly investing into it. • Wrong/bad management. Instead of investing more money into product itself ICO organizers used funds for hyping up the project which usually leads into nothing at the end. As the result all the sides are suffering from it. Good projects have less ways of reaching audience due to the uproar around scam and the increasing cost on marketing. Investors in turn instead of constant investing are playing a lottery.
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So, the Bitcoin weekly chart shows: • Strong down ward trend. We can see bear trend which has started since 2017. At the moment the price is moving within correctional price concolidation and more likely it will be pushed down to strong support level of 3000. No any reasons for completion of downward trend were found. • After breaking 6000 level, we have seen the impulse generated stop loss orders activation under the level and accordingly the liquidity has moved down. This impulse confirms the bearish trend, since the volumes show a serious misbalance in favor of Sellers. • Presently we see that the price has made retest of the level by the last weekly bar confirming the weakness of the market that increases the probability of the downward movement to 3000-3200 level within next 2-3 weeks. Ethereum weekly chart shows: • Global downward trend. Presently we can see correction in downward trend. We do not see any grounds for global rise of buying for that reason we are waiting for a strong support level at 85$.
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Bitseven is a reliable tool that gives you the opportunity to trade Bitcoins with leverage from 1 to 100x. Make a profit whether the bitcoin price rises or falls. You can earn up to 100% when the price changes by only 1%. Lightning-fast execution speed guarantees swift and effective transactions. You can also trade on mobile phones and tablets. 1,270,000 users from all around the world have already been satisfied with our service. Our Site: https://www.bitseven.com/en Our telegram channel INT: https://t.me/themargintrade Cryptocurrency News BitSeven digest daily 1) BitMAX revealed the reason for its token huge drop BitMAX cryptoexchange has published details of the huge decline of its own BTMX token at the end of last week. According to the company, increased volatility on BTMX market was observed for 31 minutes on March 30 from 08:36 to 09:07 UTC. BitMAX divides this incident into two phases. First phase, which it calls "the formation of volatility" lasted 21 minutes. In this time, due to constant pressure of sellers, the price shrank by 19.2%; trading volume amounted to 3.72 million USDT, 88.2% of which came from the transactions initiated by the sellers. 24.8% of sales were due to forced liquidation of marginal positions. 2nd or “high volatility” phase lasted 10 minutes. At this time, the price fell by 59.3% due to the forced liquidation of marginal positions. 87.4% of sales volume was for such transactions. During this period, BTMX price dropped from $0.175 to $0.05 or for more than 70%. To reduce the risk of similar situations appearing in the future, BitMAX has established new restrictions that apply to the maximum available amount of borrowed funds for the user in one currency and in all currencies for one account at once. In addition, large traders, as well as traders who want to use a large leverage, may be asked to provide more substantial collateral. Next up in our cryptocurrency news release: 2) SEC intends to hire another cryptocurrency specialist and offers a salary of $238 thousand US SEC plans to hire a legal advisor to develop a comprehensive plan for crypto-based securities and digital assets [security-tokens]. Such statement is currently posted on the USAJobs portal. Requirements for the specialist are to understand the federal legislation on securities, also his task will be to understand how the existing legal norms can be applied to digital securities, crypto and new market players: broker-dealers, exchanges and clearing services. Note that he will also be a key representative of SEC in the working group for fintech and a link between the office and the working group on digital assets in the composition of Financial Stability Oversight Council (FSOC). At the same time, he will be providing SEC contacts with regulators of other countries, market participants and the public. A potential consultant must have a doctoral degree in law and be a member of the US Federal Bar Association. Experience in the field - at least four years. SEC offers annual salary in the range of $144- $238 thousand, not a bad deal – feel free to apply if you meet those conditions and at the same time want to try or change SEC’s viewpoint on cryptoindustry. Let’s recall that earlier, head of SEC, Jay Clayton, explained and confirmed that ETH is not a security. 3) Huobi Global, following Binance, is experiencing technical difficulties Just a few hours ago, dozens of users of another popular cryptocurrency exchange, Huobi Global, began reporting serious platform failures, complaining that for some time they could not buy and sell their digital assets. Besides the fact that some did not have access to the orders, it was also reported that even those that had been already set were not working, although following the price movement, they had to be executed. Unlike Binance, which also faced this kind of disruption and acknowledged problems on the platform, but stated the cause of their problem, Huobi Global did not respond to complaints from its users, leaving customers even more disappointed because of their unearned and, what is even worse, lost funds. Binance and Huobi not so long ago were faced with similar technical problems, however, this happened against the background of selling tokens through IEO, when the influx of traffic was too heavy for both platforms and numerous users reported unsuccessful attempts to take advantage of the offer. On the note of so many platforms, even major ones being very suspicious with volumes and now these technical problems of Huobi and Binance, we recommend trying out new but already established and highly praised cryptoexchange BitSeven! And the craziest cryptocurrency news for the middle of the week: #bitmex #bitseven #review
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Bitseven is a reliable tool that gives you the opportunity to trade Bitcoins with leverage from 1 to 100x. Make a profit whether the bitcoin price rises or falls. You can earn up to 100% when the price changes by only 1%. Lightning-fast execution speed guarantees swift and effective transactions. You can also trade on mobile phones and tablets. 1,270,000 users from all around the world have already been satisfied with our service. Our Site: https://www.bitseven.com/en Our telegram channel INT: https://t.me/themargintrade Our telegram channel INT: https://t.me/bitseven7 Facebook: www.facebook.com/BitsevenTrading Twitter: www.twitter.com/BitSeven Vk: www.vk.com/BitSeven_ru www.bitseven.com 1) Ripple, IBM and SWIFT have entered into a single blockchain association. 105 global technology companies, including SWIFT, IBM, Ripple and Consensys AG, became part of the International Association of Trusted Blockchain Application (INATBA) to promote DLT-technologies in the European Union. A full list of organizations is presented in a press release. INATBA members will develop uniform standards for blockchain compatibility, as well as create a transparent regulatory model for the technology. The European Commission, the World Bank, the OECD, UNICEF and the European Investment Bank will advise the new association. “This cooperation confirms that blockchain technology will become a driving force for our economy in the coming years. INATBA will interest EU member states in applying technology,” - said Maria Gabrielle, European Commissioner for the Digital Economy and Society. Let’s recall that in December 2018, the EU member states - Cyprus, France, Greece, Italy, Malta, Portugal and Spain - signed a joint memorandum on promoting the blockchain technology in order to transform their economies. Next in cryptocurrency news release for the week SEC announcement: 2) SEC has introduced a new guide to assess the legal status of cryptocurrency tokens The US Securities and Exchange Commission (SEC) has published a new guide for issuers of cryptocurrency tokens, which can be considered unofficial instructions for determining whether issued assets fall into the category of securities. The document has been drafted over the past six months by the Strategic Hub for Innovation and Financial Technologies of the Ministry (FinHub). In particular, the document notes that when assessing the legal status of their financial instrument, tokens issuers are encouraged to pay attention to such factors as income expectations, the presence of centralized structures responsible for performing certain tasks in the network, as well as the ability to create and maintain digital asset markets. In this context, SEC refers to the Howie test applied to a wider range of financial instruments. The guide included such factors from it - the dependence of the asset price on the actions of the project organizers, reasonable income expectations, probable areas of use, the correlation between the initial selling price of the token and its market rate of the token. The commission also explains how distributors of tokens, which are already in the hands of investors, should register their campaigns and whether the status of an asset, initially issued as a security, could be revised at a later stage. Once again, the document is not an official guide and, therefore, is not legally binding. It also doesn’t really provide any fundamentally new legal information, only more deeply revealing the previously voiced position of the SEC representatives on this issue. 3) BitMEX will pay compensation to customers affected by technical failure during BTC growth BitMEX trading platform will refund coins to users who lost money during the bullish rush of BTC this week due to technical problems of the site. The company confirmed this decision in a press release. BitMEX, which offers various trading products using leverage for BTC and other cryptoassets, automatically closed the positions of some customers when prices for BTC and ETH were rising. This happened as part of a process known as automatically closing risky market positions. The company states (but nobody can prove that other than BitMEX), the number of affected positions was minimal, while online commentators noted that as of April 2, the amount of funds involved in the situation was already $500 million in BTC. A sudden jump and increase in trading activity took BitMEX by surprise, and now the site leaders promised to pay compensation to each of the approximately 200 affected customers. That’s not first hiccup of BitMEX at such crucial timing window, which yet again questions their operating stability and rises again their API problem. And this situation feels similar on the cases of how their liquidation works. On this note feel free to try new but already established and highly praised BitSeven cryptoexchange. Next up in cryptocurrency news:
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Bitseven is a reliable tool that gives you the opportunity to trade Bitcoins with leverage from 1 to 100x. Make a profit whether the bitcoin price rises or falls. You can earn up to 100% when the price changes by only 1%. Lightning-fast execution speed guarantees swift and effective transactions. You can also trade on mobile phones and tablets. 1,270,000 users from all around the world have already been satisfied with our service. Our Site: https://www.bitseven.com/en Our telegram channel INT: https://t.me/themargintrade
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1) BitTorrent token trading volume success Highly anticipated altcoin, BitTorrent token, had surprised a lot of people, in the first day its trading volume reached more than $83.5 million. In the last year one of the most popular decentralized platform BitTorrent was bought out by TRON. This way cryptocurrency project wanted to use the popularity of BitTorrent for mass introduction of innovative technologies and decentralized Internet. Token sale of the company was extremely successful which shouldn’t be really surprising due to the fact that it was managed by the talented marketing specialist Justin Sun. Note that the length of the sale was only 15 minutes. During first 24 hours after issuing value of token (BTT) increased 4.18 times in US dollars, 4.32 times in ETH and 4.23 in BTC. According to data of one of the largest exchanges in the world and the only one that added BTT token, the trading volume of BTT surpassed the numbers of the closest to it pair XRP/BTC with volumes of $28.2 million. After rising for 35% reaching almost $0.0005, its market capitalization is now $44.4 million. Despite all the criticism, which was also expressed from top manager of BitTorrent, Simon Morris, Tron continues on overcoming the difficulties it is facing and tries to prove that the project still has some serious goals. Let’s recall the BitTorrent ICO was carried out on Januray 28 and in 18 minutes the project raised $7.2 million. The success of BTT is quite remarkable against the background of sad statistic of ICO in the last half of the year. 2) Paypal originally planned creating currency similar to crypto One of the goals of PayPal was to create a new digital currency, admits co-founder of the company. The current management of the payment giant treats cryptocurrency rather conservatively. But initially, PayPal’s strategic goal was to create a digital currency independent of governments, banks, and regulators. Luke Nosek, a billionaire of Polish origin, who was one of the co-founders of PayPal, and now is an investor and board member in Space X of Elon Musk, told the public about this.
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The South African Reserve Bank has announced that bitcoins and altcoins may be acknowledged as illegal, but it is too early to think about it. As for the actual trends SARB has published the rules to clarify the legal grounds for crypto market regulation. It is a preliminary guide line which is not obligatory. However, after carefully studying the 32 pages it will become clear what South African Regulators goal is. During the month the document will be on public discussion. The mentioned guide line describes main risks related to crypto circulating. Mainly, it is recommended to launch obligatory registration for all crypto companies in FIC. The regulators are confident that legal base for crypto should provide a protection for crypto investors and minimize crypto assets laundering. South Africa does not intend to prohibit digital assets. However, such a measure may be undertaken in the future. Now the South African crypto investors do not feel safe due to absence of legal background. It has also became known the SARS tax authority asked for help leading companies to find a solution for tracking bitcoin transactions.
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Cryptocurrency News | BitSeven digest weekly - 29/03/2019 1) Pantera Capital raised $ 160 million and told where the bottom of Bitcoin price Venture capital firm Pantera Capital, leading in the cryptocurrency industry, raised $160 million for the investment project Venture Fund III. And so, the company did not reach the goal of $175 million, but decided to stop raising funds until the end of the month. Note that Venture Fund III has already made investments in 11 portfolio companies for a total of $38 million. Under the new fund, Pantera Capital intends to realize 35 transactions with an average value of $3.5 million. On average, the firm’s share in each of the projects should make up 11%. It is worth mentioning that the two deals were a natural continuation of the previous ones. The company has invested in players in the following market segments: finance, payments, stock exchanges, private blockchain solutions and infrastructure. Pantera Capital is actively investing in trading platforms, since in the past these investments have been paying off well. Note that the company participated in the $182 million Bakkt financing round together with Microsoft, the Boston Consulting Group and others. Also, representatives of the venture capital firm recognize that in the past, some correlation between the price of Bitcoin and the approaching date of the halving took place. So, in 2012, the bottom was reached 376 days before the event, and in 2016 - 320 days. Thus, if you take the average date, then this time the first cryptocurrency can reach a minimum on June 10 - 348 days before the reward for the block decreases, the company believes. Let’s recall one of the latest investments of Pantera Capital has been a cryptocurrency broker Tagomi. Next in Cryptocurrency News for this week: 2) Hotel and chain car dealership for VIPs will start accepting Bitcoin and Ethereum Starting from May, visitors of the five-star hotel Dolder in Zurich and customers of the Kessel automotive chain in Italy and Zug, Switzerland, will be able to pay for services and goods in BTC and ETH. This is reported by the local news publication Finews. Crypto payments will be made through the Inapay mobile application developed by Inacta blockchain-startup with the support of Swiss financial platform Bity. Payment will be made at the current exchange rate of the Swiss franc. In addition, Dolder and Kessel are committed to comply with the requirements of the regulator to prevent money laundering. Let’s recall that in February, the largest private bank in Switzerland, Julius Baer, announced that it will soon begin to provide its customers with new and diverse services in the field of digital assets. Every new day we receive news for some other way of distributed ledger technology application. There are so many cases at this point, just some examples - IBM shipping tangerines for Lunar New Year, going to cinema in Brazil, metro ticket payments in Argentina and for other hotels - reservations in Dubai. It might seem like these are small things, but the more publicity and recognition blockchain gets the closer we will be for future mass adoption of cryptocurrency. Regulations is one of the cornerstone problem in the crypto space and many cryptocurrency news emerge from there: 3) The CFTC Advisory Committee discussed the issues of crypto regulation and DLT adoption The CFTC Council discussed the regulation of cryptoindustry and the adoption of the DLT at the latest meeting. Participants of the event heard various reports on digital currencies and distributed registry technology. The first speaker was Peter Van Valkenburgh, head of research at the Coin Center, who spoke about the various mechanisms of consensus. Continuing the theme, CFTC Commissioner Brian Quintenz said that in this plan, Ethereum's work on the transition from PoW to PoS raises important regulatory issues, including the possibility of manipulating or falsifying blockchain.
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Recently we have been telling about Cryptopia quite a lot which shouldn’t be surprising at this point. Unfortunately this exchange had been through a lot in past couple of month and it just confirms that this new space is far from being secure. So new events like ETF-proposal or launch of next Ethereum are highly anticipated in the industry to bring stability and move market forward. But let’s return to the news of Cryptopia. Cybersecurity experts have traced the path of coins stolen from New Zealand’s exchange and found out that part of those coins were successfully sold on other cryptoexchanges. Hackers were able to launder more than $3.2 million. According to the report of analytics company Elementus, hackers liquidated stolen from Cryptopia coins for around $3.2 mil. Most of the coins were sold on decentralized cryptoexchange EtherDelta, around $2 mil. Scammers’ activities were also noticed on other platforms like Huobi, Kucoin, Livecoin, CoinExchange, and even Binance, which on first days of hackers attack assured users that their experts had revealed accounts associated with hackers and blocked them. “Update about Cryptopia: this morning hackers have sold tokens for $3.2 mil with the most part going through EtherDelta,” – twitted Elementus about the recent update on the Cryptopia situation. Let’s make a small recollection of what happened to Cryptopia: on January 15 there was a breach detected in security of Cryptopia that led to lots of coins stolen, then after a couple of weeks there appeared to be another attack with 17000 hacked wallets and 1675 ETH stolen. Users of the exchange were continuing on depositing money even despite their accounts were flagged as unsafe as result from previous attack, and therefore were exposed to the hacking attack again. Note that Cryptopia at that point have lost all the access both for coins and wallets.
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Despite the increase of fiat payment services, that offer various practical tools and payment methods, adding an option of cryptocurrency settlements gives lots of advantages both for customers and sellers. In this article we want to talk about why will you be using cryptocurrency as payment in 2019, current condition of market and its perspectives. Reason for using cryptocurrency this year There are several universal digital currencies, that can be used as private alternatives of banking accounts and cards almost for any operations. You can use them to fast and simply make payments while securing confidentiality and also save on fees. Almost no commissions Not so long ago the cash was ruling everywhere and finance institutions were creating generous incentives for people decided to put their funds in their treasury. Today while using any type of banking account, debit or credit cards we are faced with various commissions and other necessary payments. Basically you are just wasting your money and it is not bringing any benefits back, not to mention the earnings of interest on deposits. And banks are only getting more cunning about it. Let’s list off existing commissions and fees: using banking cards; operations on ATMs; trading; bank account; getting an additional receipt; overdraft; transfer and return of funds; international operations; notifications; balance; inactivity, etc.
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Who controls Bitcoin Core? Experts and cryptomarket participants ask quite often of who is this person controlling Bitcoin Core. And this project is frequently is mentioned as the controlling point for Bitcoin protocol. In this article we will try to find out if it is really true. Launch It is actually not the controlling organ of BTC, but management organ . Even if Bitcoin Core will stop its functioning, it will be replaced by something else. The fact that it works on GitHub is for convenience and not for some other purposes. If you find it suspicious, just recall that at first BTC existed as a “.rar” file, then he “moved” to SourceForge and only after that to GitHub. Project had got its name Bitcoin Core in 2014. As of now many developers think that it is the ideal realization of Bitcoin Network software. The hypothesis of the network is being controlled comes from the fact, that there are so-called “maintainers” on GitHub, who have admin rights for the storage, but in reality they are working as technical support of this storage. And in case if all the “maintainers” were really being able on adding some code into the main part it would've most likely led to a complete chaos. Many believe that in theory GitHub employees might be breaking the rules and apply the code while not being controlled by “maintainers”. But in this case there is a requirement of having a PNP-key of “maintainer”. But it is not the only controlling method. The thing is that Github uses an uninterruptable integration system. Confidants sign each code merge point. Yet again the keys are not guaranteeing 100% security from scammers, they are the means of making more difficult the illegal interference into the code. All the keys are owned by 5 people: Wladimir van der Laan, Pieter Wuille, Jonas Schnelli, Marco Falke and Samuel Dobson. You obviously can’t put all your trust in these people so you should understand that there is a possibility of them giving keys to third-parties. Therefore there is a multilayered security system meaning with only just keys you won’t be able to have control to the code. “Maintainers” From the outside point of view people might see Bitcoin core as a monolithic structure, but it really is not true. Influencers of this project were oftenly arguing with each other, but in the end they had to reach some consensus. “Maintainers” are participants, who already have contributed into the project and worked on it for a long period. They can also get more people into their team, but only after examining them for security measures. There is the “main maintainer” observing and coordinating the process. It is known about voluntarily passing this right first from Satoshi Nakamoto to Gavin Andersen and then to Vladimir van der Laan, who is still the “main” since 2014. Despite all of that, many people still do not understand that BTC development does not depend on structure of Bitcoin Core storage. The project isn’t controlled by anyone specifically and permanently. Let's say the “maintainers” hypothetically have gained control over the project and are preventing anyone on doin any actions, then the project will simply move to some other space and will just continue on developing in there. Is anyone actually controlling Bitcoin Core? It is impossible to fully understand BTC. It is compared to a language which is being developed naturally from how people are using it. They do not take words from dictionaries despite words are described in there. The dictionary describes the language, not defines it. And the code is the dictionary where the decisions are made by people. So people are the ones who control Bitcoin Core. If there was a specific point for controlling Bitcoin then it would've been the only vulnerable part. Every node operator himself monitors so that no one break rules they have set. This is the foundation for the security of Bitcoin’s bottom-up governance.
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Bitcoin daily analysis: Global trend still remains on the down path, and until the zone of 4100-4200 isn’t broken through, there is no reason of talking about reversal. When closing to the level of offering, we were observing sharp price rebound while the downbar spread had almost covered weekly growth, also showing extremely high volume meaning there were static orders in the offering zone. There is a possibility of a correction to the last accumulation zone for 3950-4050 soon. The overall picture is bearish, so you should consider short from the zone of 3950-4050, the nearest zone of demand is 3750, in this zone there is a need to follow the reaction of the price, and either to close the order, or hold the order until the second zone of demand 3450-3500. Daily chart for Ethereum: Global trend still remains on the down path. You can consider on buying only after breakthrough and solidifying of the offering zone 160-170. The price now has bounced from strong mirror resistance level, and the rebound occured on the wide spread with the outcome of an extremely high volume, covering the 6-day rising, bearish engulfment happened. Local uptrend broke down so we are observing the fall. There is possibly a correction to the previous accumulation zone 150-152 and further distribution to the first demand zone of 127 dollars. The possibility of decreasing to the second support zone of $105 is also very high, but there is a need of watching what will happen on $127 for further actions. Daily Litecoin chart: There is now great upward correction being observed on the global downtrend. The price has come close to the zone of offering on an extremely high volume with very wide spread. On one upbar the price made a distribution towards the resistance zone that way also making a test for offering. The further reaction of the price indicated on there being a huge amount of static sale orders in this zone. False breakthrough upwards and further return with the high ending volume only proves that there are offers. From the $48 level you can consider on selling until the nearest zone of demand which is $41. The further decrease to $36 and then $30 is also very possible, but for better prediction it is better to monitor the price on the first support level.
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I had lost money by buying bitcoin at $17.980 and I earned 10 times more on the cryptocurrency exchange next month
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The sentiments of the two regulators seem to echo those of Gemini Inc., the crypto exchange owed by the Winklevoss twins. Just last week, the company engaged in a viral, city-wide advertising campaign. Buses, taxi tops and bus stops carried signs with messages such as “Crypto Needs Rules” and “Crypto Without Chaos” being boldly displayed. At the time, Chris Roan, head of marketing at Gemini, said, “We believe that investors coming into cryptocurrency deserve the exact same protections as investors in more traditional markets, adhering to the same standards, practices, regulations and compliance protocols.” Also, while speaking about their ad campaign in an interview with Fortune, Tyler Winklevoss added, “The idea is that companies that build on top of things like Bitcoin should have a regulation that’s thoughtful and that doesn’t stifle innovation … People believe in the dream of crypto. They just don’t know how to engage in it without getting burned. We’re here to say Gemini’s a place you can do that.” The Gemini ad campaign generated some to-be-expected reactions from the Bitcoin community, with many pointing out the folly in its approach to regulation. In a tweet, Jesse Powell, CEO of Kraken, said, “Saying crypto needs rules is like saying the poor need sanctions. Here's a rule: no more rules.” Nick Foley, a former support staffer at Coinbase, also stated that the rules required by crypto are already there — and based in mathematics. Foley took to Twitter to downplay the prospect of bringing complex regulations to the crypto space, calling most of these regulations unnecessary.
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