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Technical analysis of the cryptocurrency market – the continuation of the uptrend

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Technical analysis of the cryptocurrency market – the continuation of the uptrend

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The bidding of the final week can be called a “bold attempt to grow,” because the crypt-runners continued to conquer new heights. Traders have been dreaming about them for a long time, especially those who adhered to one of the best strategies for today – “buy and hold”.

Crypto-assets showed a long-awaited correctional rollback, which may be completed in the coming days with a new wave of growth. The reasons for the disappointment were the news about a possible scam from the founders of the Bitsane exchange and the closure of the Indian trading platform Koinex due to a state ban. However, it should be borne in mind that the overheated market in this way could also show a technical correction.

Now the digital assets market has more reasons for growth, which may be renewed on the back of news about a very unexpected decision of the Chinese Government to recognize Bitcoin as a “safe haven” for investors and about the media cryptocurrency Libra from Facebook, which can be added to the listing on Binance . The latest news will contribute to the flow of funds from institutional investors, who, together with the bulls, will be ready to capitalize on the current decrease in capitalization.

Bitcoin (BTC)

The first cryptocurrency quotes showed a more powerful movement in a week on the informational occasion created in the form of the upcoming launch of the Libra coin, which only the laziest crypto enthusiast is not talking about right now.

A new maximum was recorded at around $ 14,000, and in the classic game of whales, an instant collapse occurred to strong support around $ 10,780 (50% correctional level along Fibonacci proportion lines) – $ 11,000.

A further breakthrough down to $ 10,000 and $ 9,500 as part of the 3 correctional Elliott wave is unlikely, although it seems possible. This will lead to an even greater set of buy positions for the bulls that have received the best chance to upgrade their portfolio. So it will be possible to transfer a part of the previously earned funds to altcoins or to open new long positions with an eye on intermediate levels of $ 13,000, $ 13,624, $ 14,300. The priority remains the target value of $ 15,000.

On the daily timeframe, you can note the preservation of the uptrend, so any concerns about the beginning of the current movement reversal stop immediately. Exiting the price above $ 11,800 will confirm expectations and will open the way to a cluster that has not yet been overcome, $ 13,100– $ 13,500.

A little later, by mid-July, it’s worth talking about the possibility of developing growth to horizontal resistances of $ 15,000, $ 15,360 and $ 16,200, calculated on the basis of Fibonacci levels. Already now you can set take profits on them and enjoy the new upward movement starting in the second summer month.

Ethereum (ETH)

Aether confidently developed the movement and achieved most of the goals that were set this month, reaching even the $ 364 mark. But the market initiative intercepted by bears allowed the latter to once again reach support at $ 280, where the median of the Bollinger Bands passes.

The priority remains the scenario with the ongoing implementation of the bullish divergence of the schedule and the RSI with a phased recruitment of new positions of bank capital, to which you can now begin to join part of their funds.

A confirmation signal of market recovery will be the exit above the cluster of $ 320- $ 340. After the quite expected update of this summer's high in the region of $ 364, it is worth counting on growth to $ 400 (23.6% fibo) and $ 420.

Bitcoin Cash (BTH)

Fork of Bitcoin against the background of growing demand for crypto assets in the entire market tried to show such a long-awaited growth and broke out, albeit briefly, beyond the limits of the Vympel consolidation model with $ 380 and $ 450 borders (38.2% expansion in Fibonacci correction levels).

At the moment, the trading idea is still relevant with the development of a new growing movement towards the first goals of $ 483 and $ 516 (61.8% expansion in Fibonacci levels). Saving the trend for the inflow of funds from large capital will allow the value of this asset to soar to the area of $ 562 and $ 600– $ 620.

Litecoin (LTC)

Lightcoin was also able to achieve only the first goal in the region of $ 148 and began to form a corrective decline towards the lower boundary of the “Uplink” technical analysis model (the faces are marked on the graph below in light green).

The current support is a cluster of $ 115– $ 121 levels, from which you can start making deals to buy a crypto asset, or wait for an accurate signal for the bulls in the form of care above $ 140. The previously presented goals in the form of $ 148 and $ 160 levels, as well as a cluster of $ 174–178 (calculated on the basis of proportions along the Fibonacci lines), remain relevant.

Ripple (XRP)

Ripple this week again shows one of the highest volatilities, which led to the goal of $ 0.55, although at the end of the week the price is already supported by a cluster of $ 0.40 – $ 0.41.

This attempt to go beyond the technical analysis of the Flag model was a confirmation for the expected strong increase of $ 0.5, $ 0.52, $ 0.5681 and $ 0.6, which may occur before the end of July.

Binance Coin (BNB)

Rumors about pre-launch projects from Changpen Zhao are pushing up the cost of Binance Coin . In recent weeks, this movement has been developing within the framework of the Andrews Rising Pitch model, and the current decline towards the Bollinger Band median may become tempting for bears before a beginning growing movement.

In the framework of the coming weeks, the idea of reaching the levels of $ 38.80, $ 40 and $ 43 will still be relevant.

The crypto market has partially lost its capitalization, but it didn’t even “winced” because the crypto industry will soon be ready not only to update the record values of 2017, but by the end of the year the expectation of achievement of historic highs on some assets becomes quite realistic, especially against the start trading cryptocurrency Libra from the social network Facebook.

Publication date 06/29/2019
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Huobi Token overview: HT cryptocurrency features, where to buy and how to store tokens?

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Recently, the issue of own coins has become a very fashionable trend among cryptocurrency exchange exchanges . The exchanges use this method in order to expand the user base and attract more investments.

One of the largest marketplaces in the cryptocurrency market, the Huobi exchange , was no exception and also actively promotes its internal coin Huobi Token (HT). What advantages are the owners of cryptocurrency Huobi Token, we consider later in the article.

What is the cryptocurrency Huobi Token? History of creation

Prerequisites for the creation of cryptocurrency Huobi Token served as a ban on cryptoindustry in China in 2017. It was then that the management of the Huobi corporation had to take urgent measures to rehabilitate the business.

Due to the introduction of regulatory changes, the largest cryptocurrency exchange at that time, Huobi, whose main office was in Beijing, was discontinued. But after only a few months, the Huobi team moved its business to Singapore and launched a new project – Huobi Pro.

If the initial version of the Huobi Exchange was mostly aimed at users of China, then Huobi Pro headed for the international market. Huobi Pro uses the over-the-counter trading model (OTC) and has concentrated in itself all the necessary options for global traders. Despite this, the new project of Huobi Corporation did not show the volumes that the management expected. Trading volumes on Huobi Pro accounted for only 4-5% of the volume of the exchange before closing the business in China.

The “lifeline” in this situation was the decision of the leadership to launch its own cryptocurrency . This initiative was not aimed at creating a new asset for investment, but for the internal needs of the exchange — attracting new traders, increasing the loyalty of existing users, and also returning the exchange's leading positions in the ratings .

The launch of a new cryptocurrency did not follow the standard ICO scheme, which most projects use for the initial launch of coins. At the beginning of 2018, the exchange began to spread the internal cryptocurrency Huobi Token among the VIP users of the exchange. Traders were offered to buy a premium package of services that included a certain number of HT tokens. Becoming an HT holder, traders could use coins to pay commissions and other internal payments. This method of distributing coins was called the initial exchange offer (IEO).

In the first 2 weeks after launch, 60% of the total supply of coins, which amounted to 300 million tokens, shattered among the users of the exchange. The remaining 40% (200 million coins) were reserved by the company for life support of the platform.

The Huobi team also announced the parallel creation of the Huobi Investor Protection Fund (HIPF). In order to contain token inflation, Huobi Pro conducts quarterly repurchase of coins using 20% of its net profit. All collected funds are accumulated on a separate Ethereum wallet and are stored to compensate for any losses that may arise from users in the process of working with the platform.

To ensure the transparency of its activities, the company has opened access to viewing the balance of the HIPF wallet for everyone. Thus, Huobi tried to suppress the cryptocurrency volatility and create the most stable token.

The release of its own cryptocurrency helped to increase the capitalization of the platform and increase the level of customer retention by providing them with exclusive working conditions on the exchange. According to the company's management, the internal token of the exchange was to become a single link between the users of the exchange branches in South Korea, the USA, Australia, Canada and other countries.

The initiatives undertaken have really borne fruit and now the Huobi Exchange is ranked second in the rating of cryptocurrency exchanges according to CoinMarketCap.

By the way, for Huobi there is a large team of very competent developers and marketing specialists. Led by Leon Lee, a former Oracle programmer, the Huobi team has raised the project for the second time and raised it to the top.

Key features of HT tokens

The cryptocurrency Huobi Token is released on the Ethereum blockchain and complies with the ERC-20 standard. To a greater extent, the internal cryptocurrency of the exchange is a loyalty program for traders, so consider what advantages its holders receive.

Reduced transaction fees

The exchange system provides for discounts, which apply exclusively to customers with VIP-status. VIP client status is offered to Exchange users to purchase for the Huobi Token cryptocurrency. The discount depends on the level of your VIP-package, while the owner of the package with the highest VIP-level receives a 50% discount on all transactions that are made during the period of the service package.

The service package has no expiration date. All privileges you receive as long as you pay for a package subscription. This advantage is widely used by large investors and traders with large trading volumes, who through the use of VIP-status can save huge amounts of money on commissions.

Convenient exchange tool

HT makes a trading pair with the most popular cryptocurrencies, so this token is very convenient to use as a medium of exchange for the main cryptocurrencies. The most popular among traders are HT trading pairs with cryptocurrency Tether, Bitcoin and Ethereum.

Promotion of new tokens

HT owners always receive bonus coins from each listing of new cryptoactive assets on Huobi Pro.

Investor Protection Program

Due to the existence of the HIPF fund, all HT holders are insured against financial losses related to the instability of the cryptocurrency market, fraudulent activities or other losses related to the activities of the exchange.

Decision making

HT owners have a preferential right to participate in various surveys and polls related to the life and development of the Huobi Pro exchange. Voting may relate to the inclusion of a new cryptocurrency in the listing of the exchange or other issues related to the development of the ecosystem of the project.

Where to buy and how to store Huobi Token?

The easiest way to get HT coins is to buy them on the Huobi native exchange. You can buy Huobi Token for BTC, BTH, ETH, ETC, LTC and USDT. In addition, the coins are presented on the trading platforms of HitBTC, Bibox, BitMax, Gate.io, Yobit, LBank, etc.

For storage of HT, Huobi Corporation offers users the own development of Huobi Wallet. This is a multi-currency cryptocell , which can be used to store more than 1000 digital coins, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash and other cryptocurrencies.

Huobi Wallet has mobile versions for Android and IOS devices. This is a convenient and secure wallet, where users have full control over their assets through personal security key management.

The application has a simple and stylish design. At the same time, users can manage their own account by adding new digital assets as needed.

In addition to a separate application, Huobi Wallet, you can also use the coin storage function on the Huobi exchange. The exchange offers “cold” wallets and protects the assets of its users with the help of two-factor authentication and an anti-DDoS complex.

From third-party applications for storing HT coins, you can use any wallet that supports ERC20 tokens. Among them are Jaxx, Exodus, MetaMask and others. And, of course, the well-known hardware wallets Ledger and Trezor can always help.

It is important to note that by choosing third-party wallets for storing their coins, users are automatically deprived of the right to receive privileges from using the Huobi Token cryptocurrency. Therefore, it is still preferable to use official Huobi applications for storing coins.

Course and Capitalization HT Token

Cryptocurrency Huobi Token started trading on exchanges with a rate of $ 1.49 at the beginning of February 2018. At first, the price of Huobi Token kept at about the same level and did not exceed $ 2.

The most noticeable jump in the HT price was at the beginning of the summer of 2018. After just 4 months, the level of popularity of the coins took off, which in turn affected the rate. At the beginning of June 2018, the HT rate reached its maximum and amounted to $ 6.10 for 1 token.

The dynamics of the course Huobi Token :

As of July 2019, the price of Huobi Token cryptocurrency is $ 4.18, and the project's market capitalization exceeds $ 208 million. Huobi Token's cryptocurrency is ranked 36th in the rating of cryptocurrency by the level of capitalization according to Coinmarketcap.com . At the same time, the average daily trading volume is close to $ 110 million, and this is still a pretty good indicator for cryptocurrency, which is just over a year on the market.

As can be seen from the graph above, at the current moment, the HT rate starts to rise slowly, so from the point of view of investing, the token becomes relevant again. The recent launch of a new product from the developers of Huobi Corporation – a platform for IEO called Huobi Prime, as well as parallel tokenale coins of the Top Network (TOP) – has sparked interest in cryptocurrency.

Despite the fact that the main purpose of HT – the use of traders for intramarket payments, the investment attractiveness of the cryptocurrency Huobi Token is also at a sufficient level. Most often, coins become an object for short-term investments, in particular, the activity of investors increases during the periods before the redemption of coins for the HIPF Fund.

Huobi Corporation does not stand still and regularly launches new products for its customers, thereby keeping users' interest in HT coins. In fact, HT is the embodiment of the success of the exchange, so while we are seeing a growth in capitalization and the development of Huobi, HT will also grow steadily.

Publication date 07/20/2019
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How is the Bitcoin rate and capitalization associated with Tether (USDT) steblcoin emissions?

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Rumors about the relationship between the price of Bitcoin and Tether (USDT) have been around for a long time, but how true they are, you can only speculate. The total number of tokens in Tether’s turnover at the moment is about $ 200 million, in preparation for reaching $ 4 billion.

When Tether’s market capitalization reached a new high of $ 4 billion, Bitcoin stopped falling and began to grow again. Conjuncture? Maybe, maybe not.

However, it is obvious that Tether released 50 million just at the moment when Bitcoin finished making its way out of the rising wedge model.

Guess what happened next? Hint: Bitcoin unfolds and adds 12% per hour.

Bitcoin has always grown in value with the new issue of USDT. On July 8, the price of BTC increased significantly after 100 million tokens were issued. The July 9 reversal was eliminated when Tether printed another 100 million USDT.

The same effect was observed on July 14th. However, an even more interesting observation could be made when Tether “mistakenly” released 5 billion USDT.

On this occasion, Bitfinex technical director Paolo Ardoino tweeted:

“When preparing a swap from Omni to Tron, there was a problem with the decimal numbers of the token. Token burning operations can be viewed below. ”

The resulting 5 billion USDT errors were burned in two stages: first 4.5 billion and another 500 million. Poloniex confirmed this information.

Nevertheless, the effect of this event affected the price of Bitcoin, since in less than 3 hours it fell by 8%, and over the next day it continued to drop by an additional 11%, which contributed to a decrease in the BTC price from $ 10,600 to $ 9 100.

This finally brings us to yesterday's 50 million USDT, as a result of the emission of which the price of bitcoin made a 180 ° turn and began to rise.

In addition, Tether is the main platform for bitcoins and other major cryptocurrencies . As can be seen from the graph below, approximately 3.56 billion of all USDT are directly sent to bitcoins, which is more than enough to control the price of the king of cryptocurrencies.

Thus, the observation of the influence of Tether on Bitcoin from July 8 to July 19 showed a direct relationship.

Publication date 07/20/2019
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Apple co-founder Steve Wozniak invested in the Maltese blockchain company

Stephen Wozniak acted as an investor in the Maltese blockchain-company EFFORCE, which is creating solutions aimed at the efficient use of energy resources. At the same time, he joined the EFFORCE co-founders, reports Malta Independent. Wozniak made a statement at the Delta Summit conference, which will be held in Malta for the second time in October. According to the source […]

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Stephen Wozniak acted as an investor in the Maltese blockchain-company EFFORCE, which is creating solutions aimed at the efficient use of energy resources. At the same time, he joined the EFFORCE co-founders, reports Malta Independent .

Wozniak made a statement at the Delta Summit conference, which will be held in Malta for the second time in October.

According to the entrepreneur who stood at the origins of Apple, energy efficiency has always been of great importance to him and that the blockchain will help reduce the consumption of energy resources without forcing people to abandon their usual ways of life.

Speaking about the EFFORCE company itself, Wozniak said that it offers a unique business model, part of which is an investment methodology offering new opportunities for entrepreneurs.

He also added that he had long wanted to invest in Malta, noting a positive environment for the development of new technologies, which was created by local authorities.

As stated on LinkedIn's EFFORCE page, the company offers a blockchain platform for investment in energy-efficient solutions, stating its intention to become “the world's first and foremost platform for tokenized energy-saving sources”.

Recall that last year it was reported that Steve Wozniak was related to the investment platform EQUI Capital, founded by the Scottish baroness Michelle Mont and businessman Doug Barrowmen. The company was going to raise $ 80 million through ICO, but failed to realize its plans.

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Name Price24H (%)
Bitcoin (BTC)
$10,693.00
1.93%
Ethereum (ETH)
$226.82
1.93%
XRP (XRP)
$0.331558
2.78%
Bitcoin Cash (BCH)
$328.00
6.39%
EOS (EOS)
$4.29
6.15%
Stellar (XLM)
$0.093504
1.80%
Litecoin (LTC)
$100.34
2.13%
Cardano (ADA)
$0.063120
3.52%
Tether (USDT)
$1.00
-0.18%
Monero (XMR)
$85.17
3.70%
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