Day: December 14, 2019

5 Bearish Candlestick Patterns Every Bitcoin Trader Must Know

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As discussed in a previous article on bullish candlestick patterns, trading using Japanese candlesticks is the most popular method for analyzing price action by crypto traders. There are many patterns worth learning and understanding — some of the most essential bearish patterns are discussed below. It is important to note, once again, that context and candle placement are essential in identifying patterns. The same exact candlestick can be bullish when located in a different place on the chart. Bearish Harami The Bearish Harami is a two candle pattern that signals…

The Great Crypto Experiment Continues

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The crypto community got some mixed messages from DC in 2019. The government went after Libra, fined EOS, filed a lawsuit against Kik, and blocked Telegram from distributing its token. Some members of government were more supportive of crypto – including SEC Commissioner Hester Peirce, who called for a safe harbor for crypto projects, so tokens meeting specified criteria could be traded more freely, enabling a more open crypto ecosystem. As we approach the new decade, this – and other encouraging signals — give me confidence in the long-term viability…

Long BTC and Profitable on Many Altcoin Positions

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Trading altcoins continues to be one of the most profitable strategies in the crypto market. The highlight of this week was the MATIC (MATIC) pump and subsequent dump, which I was lucky enough to time perfectly, securing a 60% profit near the all-time high. I closed a number of positions in profit, and am still trading EtherParty (FUEL), (IOST), Elrond (ERD), Chainlink (LINK), Zilliqa (ZIL), Verge (XVG) and FunFair (FUN). I failed to take profits on some of these coins at the first resistance and target, only to see them…

PayPal Sues Consumer Protection Agency for ‘Confusing’ Digital Wallet Rules

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PayPal is suing the Consumer Financial Protection Bureau (CFPB) for requiring the firm to make “misleading and confusing” disclosures about its fees. The digital payments giant filed a lawsuit against the CFPB on Dec. 11, arguing that the agency has ignored critical differences between digital wallets and prepaid products like prepaid debit cards (GPR). CFPB makes PayPal provide disclosures about fees that it doesn’t charge, the suit says According to a Dec. 11 court filing seen by Cointelegraph, the CFPB mandates that digital wallets and GPR cards should be regulated…

Lessons From the First Digital Gold Boom

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With cryptocurrencies having captured everyone’s imagination, we often forget that the digital gold boom of the 2000s was the first digital currency revolution. Jackson’s initial success with e-gold encouraged a swarm of copycats: GoldMoney, eBullion, OSGold, INTGold, Pecunix, 1mdc, and more. These currencies were swapped on hundreds of digital gold exchanges located around the globe. The industry even had its own magazine, DGC Magazine, and trade association, the Global Digital Currency Association. At its peak in 2005, e-gold had around 1.2 million accounts with transactions totalling $1.5 billion. It was…

This Week in Bitcoin: $8 Billion BTC Trust and Maximalists Misbehaving

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This Week in Bitcoin is your roundup of the prime talking points from across the cryptosphere. From the major news to the minor debates that erupted into huge arguments, we’ve captured the flavor of the frenetic soup that is Bitcoin and all that simmers in it. In this edition, the deadline for the $8 billion Tulip Trust looms closer and bitcoin maximalists are caught behaving badly. Also read: Accused Onecoin Co-Conspirators Fight Criminal Charges in the US Monday: $8 Billion BTC and Post-Fork Fixes On Monday, September 9, we led…

Meet Crypto’s New Best Friend: Fiat

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At VideoCoin, our utility token VID plays an incredibly useful function in securing and powering the network, ensuring the most qualified network operators are serving customer needs. The VID token does not act as a payment mechanism. Instead, it’s a reputational staking mechanism for building the global infrastructure that runs the worker nodes on the VideoCoin Network. Miners are continuously selected by the VideoCoin Network services algorithm as operators to process video files based on three factors: quoted price, number of staked tokens, and performance. This drives the least expensive…

Monero Compliance Workgroup Says XMR Exempt From Funds Travel Rule

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The Monero Compliance Workgroup has stated that the Monero (XMR) network is not subject to U.S. Financial Crimes and Enforcement Network (FinCEN) guidelines regarding the Funds Travel Rule, in a Dec. 5 blog post. What is the Funds Travel Rule? The Funds Travel Rule requires financial institutions who are sending and/or receiving funds to store and transmit certain information about the transfer if it is valued at over $3,000 or equivalent amount. However, in its May 2019 guidelines, FinCEN states that: “If a given transmission protocol is unable to accommodate…

US Fed to Print $425B for New Year’s — 3 Times Bitcoin’s Market Cap

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The United States central bank will inject at least $425 billion of nonexistent money into the economy by the middle of next month. In a statement released Dec. 11, the Federal Reserve confirmed it would ramp up so-called repurchase, or “repo,” operations on key dates over the new year period. Fed to “print” 3x Bitcoin market cap in weeks The time of year required extra assurances for banks, the Fed claims, with repo operations designed to support their day-to-day operations.  “The Open Market Trading Desk (the Desk) at the Federal…