The Crypto Daily – The Movers and Shakers – 15/09/19

Ethereum (+3.96%), Bitcoin Cash SV (+2.8%), and Stellar’s Lumen (+2.73%) also saw solid gains on the day. Ripple’s XRP (+2.34%), Litecoin (+2.2%) …

Bitcoin slipped by 0.04% on Saturday. Following on from a 0.73% fall from Friday, Bitcoin ended the day at $10,380.

A relatively choppy morning saw Bitcoin slide from an early morning high $10,395 to a mid-day intraday low $10,255.

In spite of the choppy start to the day, Bitcoin left the major support and resistance levels untested.

Finding support through the afternoon, Bitcoin rallied to a late intraday high $10,488. Falling short of the first major resistance level at $10,514.33, Bitcoin fell back to $10,300 levels and into the red.

For Bitcoin, the extended bullish trend remained intact. Bitcoin continued to hold above the 38.2% FIB of $9,734 having steered well clear of sub-$9,000 levels and the 62% FIB of $7,245.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a mixed bag.

Monero’s XMR joined Bitcoin in the red on the day, with a 0.99% loss.

It was a bullish day for the rest of the pack, however.

EOS led the way, surging by 8.02% on Saturday. Ethereum (+3.96%), Bitcoin Cash SV (+2.8%), and Stellar’s Lumen (+2.73%) also saw solid gains on the day.

Ripple’s XRP (+2.34%), Litecoin (+2.2%), and Binance Coin (+0.77%) trailed the pack in spite of the gains on the day.

The relatively bullish start to the weekend left the majors mixed for the current week.

EOS led the way, rising by 6.63% Monday through Saturday. Ethereum and Litecoin were also in positive territory, with gains of 4.02% and 0.24% respectively.

It was red for the rest of the pack, however. Bitcoin SV and Binance Coin led the way down, with losses of 11.03% and 6.25% respectively.

Stellar’s Lumen also struggled in the week, falling by 3.3%. Losses elsewhere were modest, however. Monero’s XRM was down by 1.53%, with Bitcoin Cash ABC and Ripple’s XRP down by 0.39% and 0.11% respectively.

Bitcoin’s dominance eased back to 69% levels following a lackluster day on Saturday.

Through the current week, the total crypto market cap recovered from a Wednesday low $257.48bn to $266bn levels. In spite of the recovery, another crypto rally is needed to recover to $270bn levels seen at the start of the week.

At the time of writing, the total crypto market cap stood at $266.04bn.

This Morning

At the time of writing, Bitcoin was down by 0.19% to $10,360. A bearish start to the day saw Bitcoin fall from an early morning high $10,403 to a low $10,337.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, Monero’s XMR (-1.65%), Stellar’s Lumen (-0.7%), Binance Coin (-0.03%), and Bitcoin Cash SV (-0.43%) also saw red.

Bitcoin Cash ABC led the way in the early hours, up by 0.98% at the time of writing.

For the Bitcoin Day Ahead

Bitcoin would need to move through to $10,360 levels to support a run at the first major resistance level at $10,469.

Support from the broader market would be needed, however, to break out from the morning low $10,403.

Barring a Bitcoin breakout later in the day, Saturday’s high $10,451 and first major resistance level would likely pin any upside.

Failure to move through to $10,360 levels could see Bitcoin spend a 3rd consecutive day in the red.

A fall through to $10,320 levels would bring the first major support level at $10,273 into play before any recovery.

Barring a crypto meltdown, Bitcoin should steer clear of sub-$10,200 support levels on the day.

Get Into Cryptocurrency Trading Today

This article was originally posted on FX Empire

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Cryptocurrency This Week: SWIFT Calls Crypto ‘Useless’, Apple Finds It ‘Interesting’, And More

Despite the international agency Financial Action Task Force having made necessary guidelines pertaining to cryptocurrency to stop money …

Despite the international agency Financial Action Task Force having made necessary guidelines pertaining to cryptocurrency to stop money laundering and financing terrorists, regulatory authorities across the globe are seemingly confused over cryptocurrencies.

While IMF chairperson Christine Lagarde wants everyone to be open towards regulating cryptocurrencies, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) spokesperson criticised cryptocurrency as “useless.”

On cryptocurrency, the spokesperson reportedly said,

“They go down in value like a yoyo, they’re useless and unstable. And even if crypto companies do make it stable, it’s still a basket of currencies,”

Meanwhile, US Securities and Exchange Commission (SEC) has been widely criticised for not permitting Bitcoin ETF (Exchange Traded Fund). Speaking to CNBC, SEC Chairman Jay Clayton has now averred that progress is being made and soon the SEC may allow Bitcoin ETF too.

“An even harder question given that they trade on largely unregulated exchanges is how can we be sure that those prices aren’t subject to significant manipulation? … People needed to answer these hard questions for us to be comfortable that this was the appropriate kind of product,” commented Clayton.

Let’s take a look at other developments of the week!

France Warns EU Against Facebook’s Libra

Urging the European Union to create a common set of rules for cryptocurrencies, minister of economy and finance, France Bruno Le Maire after EU finance ministers’ meeting at Helsinki said that Libra could cause risks to consumers, financial stability and even the sovereignty of European states.

According to reports, Maire has even asked for blocking Libra in Europe, and called for the creation of a common framework on digital currencies at the EU level. Maire also advocated for the creation of a fiat cryptocurrency especially for EU to counter risks posed by Libra.

Meanwhile, Libra Consortium is applying for a payment-service license in various countries including Switzerland.

Regulators Should Be ‘Open’ Towards Crypto: IMFChairperson

Interestingly, while France and many other EU countries are voicing against Libra, Christine Lagarde, presidential nominee for the European Central Bank and chairman of the International Monetary Fund (IMF) has urged regulators to be agnostic towards blockchain, and crypto-related regulatory frameworks.

In her opening statement to the Economic and Monetary Affairs Committee of the European Parliament, Lagarde stated that central banks and supervisors need to ensure the safety of the financial sector, but also to be open to the opportunities provided by change. She added,

“In the case of new technologies – including digital currencies – that means being alert to risks in terms of financial stability, privacy or criminal activities, and ensuring appropriate regulation is in place to steer technology towards the public good. But it also means recognising the wider social benefits from innovation and allowing them space to develop.

We Are Watching: Apple Exec On Crypto

Unlike Samsung, Facebook and many other companies, Apple has not shown any active interest towards Bitcoin or cryptocurrency yet.

However, recently, speaking to CNN, Jennifer Bailey, vice president of Apple Pay finally spoke on Apple’s interest towards crypto. He said, “We’re watching cryptocurrency. We think it’s interesting. We think it has interesting long-term potential.”

Domino’s Pizza Giving $100K Bitcoin Prize in France

Popular Pizza maker Domino’s in France has announced plans to give away Bitcoin worth $110K to the lucky buyer for the occasion of its 30th anniversary.

“Try to win € 100,000 in cash or bitcoin by ordering one of your favourite pizzas,” reads the company webpage. The contest began on September 4 and will allow buyers to participate in the game until October 2.

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MassGrid Trading 4.3% Lower Over Last 7 Days (MGD)

Ethereum (ETH) traded 2.8% higher against the dollar and now trades at $184.23 or 0.01779028 BTC. Bitcoin Cash (BCH) traded 2% higher against …

MassGrid (CURRENCY:MGD) traded down 7.2% against the US dollar during the 24-hour period ending at 10:00 AM E.T. on September 14th. MassGrid has a market cap of $1.86 million and approximately $94.00 worth of MassGrid was traded on exchanges in the last day. One MassGrid coin can currently be purchased for $0.0250 or 0.00000241 BTC on cryptocurrency exchanges including QBTC, ChaoEX and CoinEx. In the last week, MassGrid has traded down 4.3% against the US dollar.

Here is how other cryptocurrencies have performed in the last day:

  • Bitcoin (BTC) traded up 0.4% against the dollar and now trades at $10,361.62 or 1.00000000 BTC.
  • Ethereum (ETH) traded 2.8% higher against the dollar and now trades at $184.23 or 0.01779028 BTC.
  • Bitcoin Cash (BCH) traded 2% higher against the dollar and now trades at $303.29 or 0.02928674 BTC.
  • Litecoin (LTC) traded up 1.5% against the dollar and now trades at $69.89 or 0.00674926 BTC.
  • Monero (XMR) traded up 2% against the dollar and now trades at $75.02 or 0.00724377 BTC.
  • UNUS SED LEO (LEO) traded down 0.5% against the dollar and now trades at $1.05 or 0.00010182 BTC.
  • Ethereum Classic (ETC) traded 0.5% higher against the dollar and now trades at $6.21 or 0.00059975 BTC.
  • Zcash (ZEC) traded up 2.4% against the dollar and now trades at $45.43 or 0.00438660 BTC.
  • Dogecoin (DOGE) traded 0.7% higher against the dollar and now trades at $0.0024 or 0.00000023 BTC.
  • HedgeTrade (HEDG) traded up 0.3% against the dollar and now trades at $0.93 or 0.00008983 BTC.

MassGrid Profile

MassGrid is a proof-of-work (PoW) coin that uses the Jump Consistent Hash hashing algorithm. It was first traded on February 1st, 2018. MassGrid’s total supply is 135,918,516 coins and its circulating supply is 74,528,432 coins. The Reddit community for MassGrid is /r/Mass_Grid and the currency’s Github account can be viewed here. MassGrid’s official website is www.massgrid.com. MassGrid’s official Twitter account is @MassGrid.

MassGrid Coin Trading

MassGrid can be bought or sold on the following cryptocurrency exchanges: QBTC, CoinEx and ChaoEX. It is usually not presently possible to purchase alternative cryptocurrencies such as MassGrid directly using U.S. dollars. Investors seeking to trade MassGrid should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase MassGrid using one of the exchanges listed above.

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Bitcoin Hovers Over $10300 as Top Altcoins See Mixed Movements

Saturday, Sept. 14 — The top 20 cryptocurrencies are reporting mixed movements on the day while Bitcoin’s (BTC) price hovers over the $10,300 …

Saturday, Sept. 14 — The top 20 cryptocurrencies are reporting mixed movements on the day while Bitcoin’s (BTC) price hovers over the $10,300 mark by press time.

Market visualization courtesy of Coin360

Market visualization courtesy of Coin360

The price of Bitcoin is currently up by 0.13% on the day, trading at around $10,313 at press time, according to Coin360. Looking at its weekly chart, the coin is down by about 0.46%.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Coin360

As Cointelegraph reported yesterday, Bitcoin trading is opening new avenues for citizens in communist-run Cuba, which has been financially isolated for years under a United States trade embargo. According to a recent report, Cubans are increasingly using cryptocurrencies to make online purchases, as well as to invest and trade.

Ether (ETH) is holding onto its position as the largest altcoin by its market capitalization, which currently stands at $19.4 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $10.9 billion at press time.

Coin360 data shows that ETH’s value increased by about 0.92% over the last 24 hours. At press time, ETH is trading at around $180. On the week, the coin has also gained about 6.5% of its value.

Ether 7-day price chart

Ether 7-day price chart. Source: Coin360

XRP is up by about 1.07% over the last 24 hours and is currently trading at around $0.255. On the week, the coin is up about 1.59%.

XRP 7-day price chart

XRP 7-day price chart. Source: Coin360

Among the top 20 cryptocurrencies, the one reporting the most notable price movement is IOTA (MIOTA), which is down about 43.67%.

At press time, the total market capitalization of all cryptocurrencies is $264.2 billion, about 0.38% higher than the value reported a week ago.

Keep track of top crypto markets in real time here

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Tips to Maximize Returns from Cryptocurrency Investments

If you are a new Bitcoin investor seeking ways to maximize returns from cryptocurrency investments, then you’re on the right path. In your attempt to get …

If you are a new Bitcoin investor seeking ways to maximize returns from cryptocurrency investments, then you’re on the right path.

In your attempt to get familiar with this investment route, you probably asked yourself the following questions: Was there a Bitcoin bubble? Have I joined too late? Will I make blunders and most importantly, what are the best tips to succeed in this emerging investment niche?

Well, you’re not alone. Many other investors are keen on venturing into this largely unchartered financial territory. You might also have noticed the prolonged bear market cryptocurrencies faced in 2018.

A bear market is a situation where prices of securities may drop by at least 20 percent from a recent high. The drop may be as a result of widespread negative investor sentiment or pessimism on the part of the trader. The last time a bear market affected Bitcoin was in 2011.

Novice Investor

Most investors are familiar with stocks, bonds, and securities. However, cryptocurrency trading is different from stock market trading. Crypto trading is very different from the traditional form of trading.

Some of the major cryptos can be quite expensive with 1 Bitcoin pushing more than USD 10,000. If you’re pondering on how to invest with little money, stocks still might be a more forgiving avenue for a novice investor. Unlike the stock market, cryptocurrency trading happens 24/7. A novice investor should always compare and contrast investing options to make informed decisions.

What is Cryptocurrency Trading?

Cryptocurrency trading is the exchange of cryptocurrencies. Examples of cryptocurrencies are Bitcoin and Altcoin. You can buy or sell one cryptocurrency for another. You can exchange a Bitcoin for a U.S. dollar or a Euro.

Types of cryptocurrencies

Basically, there are three major types of cryptocurrencies:

  • Bitcoin

Bitcoin first appeared in 2009 and is the most widely circulated cryptocurrency. It uses what is called peer-to-peer technology for decentralized control, making it possible to trade without the centralized control of a central bank or government authority. The store of value for Bitcoin is the blockchain. This is a public ledger for all its transactions.

  • Litecoin

Litecoin was created in 2011 and resembled Bitcoin in appearance. But it possesses a faster processing speed than Bitcoin due to its Segregated Witness technology.

  • Ethereum

Ethereum came last but has surpassed Litecoin in popularity and is currently the most popular cryptocurrency after Bitcoin. It boasts of fast processing speeds, thanks to its smart contracts: and its digital “if-when” agreements.

Investing a Small Portion of Your Portfolio

According to Mike Alfred of Digital Assets in Denver,

Bitcoin is the most important but misunderstood digital asset of our lifetime.

He says that every investor needs to own at least 5 percent of this digital asset.

He is joined by David Tawil, the president of Maglan Capital, who says investors need to allocate between 2 and 3 percent in crypto assets.

Both insist that technology has disrupted most businesses and that cryptocurrency hasn’t been spared. A growing class of investors, including regular folks, regulators, and advisors, strongly believe that Bitcoin is the currency of the future. Just recently, Max Keiser, the CEO and co-founder of Heisenberg, said that Bitcoin could have averted the 9/11 attacks had it come into existence 10 years before.

Shown Disdain

Mainstream banks and several leading investors have shown disdain on the onslaught of cryptocurrencies. However, some investors believe in the digital currency’s extraordinary rise and potential to replace investment trading as we know it.

And for those crypto investors looking to maximize returns from cryptocurrency investments, here are a few tips:

  • Build an investment strategy

Experts recommend investing a quarter of your funds in the most popular coins in the order of Bitcoin, Ethereum, XRP, and Litecoin. These are the coins whose prices change very frequently. So, limit your investment in these coins to not more than 30 percent.

  • Trading during the day

If you want high returns in the short term, then try to trade during the day. The trick is to invest in crypto and then sell as soon as the price goes up. Some cryptocurrencies can be highly volatile and suited to this kind of trading. If you plan to trade during the day, ensure not to invest more than 15 percent of your portfolio since the risk is very high in this market.

  • Invest in Altcoins

Altcoins are created as an alternative to Bitcoin, and some popular ones include NEO and Titan. Experts say that Altcoins can easily outperform Bitcoin and Etherium because they have a strong foundation coupled with excellent growth potential.

Last but not least, don’t forget to:

  • Take your profits whenever possible
  • Focus on the big wins
  • Keep updating your portfolio at least every month

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