Bitcoin, Ethereum and Litecoin Cryptocurrency Prediction and Analysis For August 12th: BTC, ETH …

According to an hourly chart, BTC/USD pair has been facing a high vitality in the last 24hrs. BTC/USD pair has thereby slightly dipped by 0.89% since …

Bitcoin Price Analysis (BTC/USD)

According to an hourly chart, BTC/USD pair has been facing a high vitality in the last 24hrs. BTC/USD pair has thereby slightly dipped by 0.89% since it opened trading yesterday at $11914.02 and is now at $11807.04. The moving averages have intertwined that signaled a lack of dominance from either buyer or sellers.

The sideways momentum defined resistance level at $11987.41 and support level at $11555.19. The RSI indicator is currently heading south, which signals a drop in BTC price, thus increase in buyouts. That brought the market capitalization of BTC to $211,104,996,530.

However, the major reasons behind the volatility state of BTC price could perhaps be due to that lack of new retail investors in the market. Meaning only the investor that has already invested in the crypto are the only ones driving the price of BTC upwards.

bitcoin price chart 8/12/19

Bitcoin Price Prediction (BTC/USD)

The 7 day MA is currently above the 21 day MA that indicates a bullish momentum is to be expected. If the bulls manage to push the price above the resistance level $111987.41, then investors should go long. New targets should be set at $12000.0

Ethereum Price Analysis (ETH/USD)

ETH/USD pair is down by 4.2%, having begun the sell-off trading at $226.68 and is currently trading at $217.16. The 21 day MA (A) was seen gravitating above the 7 day MA (B) that indicated a bearish sign. This showed that the market performance of the pair’s price was generally a downtrend that placed the critical support level at $217.16 and resistance level at $227.0.

The downward performance was also reflected by the RSI indicator X that was below level 30 that signaled an oversold market condition. Generally, the fact that the RSI indicator traded below level 50 throughout the intraday indicated an increase in sells-offs. This also confirmed a decrease in investor’s sentiments.

The RSI indicator is now trading flat, which signals a lack of momentum in the market.

ethereum price chart 8/12/19

Ethereum Price Prediction (ETH/USD)

Almost all the indicators point at a further downtrend. The 21 day MA at the press time trading above the 7 day MA which showed that the bears had overcome the bulls. New targets should be set at $216.00.

Litecoin Price Analysis (LTC/USD)

Over the last 24hrs, LTC/USD was seen below the critical support level $90.00 that signaled an intense bearish pressure. LTC/USD pair is down by 1.64% since it moved from $90.28 to currently trading at $88.80. The market has, however, been on a sideways trend was reflected by the intertwined moving averages, which defined the resistance level at $90.48 and support level at $87.95.

The RSI indicator was also seen during the last few hours hovering between level 60 and 40 that signaled indecision in the market momentum. The RSI indicator is now heading north indicating reluctance of investors to sell-off their LTC holdings in anticipation for better prices.

litecoin price chart 8/12/19

Litecoin Price Prediction (LTC/USD)

A bull run is likely to be seen as indicated by the RSI indicator that is currently heading north. Nevertheless, if the price breaks the support level, then a downtrend should be expected with the new targets set at $70.00.

Cryptocurrency Charts By Tradingview

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.

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CoinZoom Visa Card to be launched this year

Before using the card for purchases, the user must select the balance of either fiat or crypto (bitcoin, ripple, ethereum, litecoin or other coins) that they …
  • CoinZoom Visa Card is a debit card that can instantly convert crypto into fiat.
  • Bitcoin, Ripple, Ethereum, Litecoin, etc. can be spent in any location that accepts visa payments.

CoinZoom, a Utah-based crypto exchange, has announced the upcoming launch of the CoinZoom Visa Card. This is a debit card that can be used to convert cryptocurrency into fiat instantly. It can be spent at any retail location that accepts chip, contactless, or PIN payments from Visa. The card, which is expected to be launched by the end of this year, can also be used to make ATM withdrawals.

Before using the card for purchases, the user must select the balance of either fiat or crypto (bitcoin, ripple, ethereum, litecoin or other coins) that they wish to be debited. Todd Crosland, founder and CEO of CoinZoom, stated that Visa’s status as a global leader in payments was a “tremendous asset” to the firm. Along with the Visa card, the company is launching a mobile trading app that contains a virtual copy of the card. Customers can use the track to track of manage their transactions.

The launch of the debit card is one of the first steps taken by the firm towards global expansion and greater adoption of its services. In May, Seed Equity Capital, an investment firm, rebranded to “CoinZoom Securities.” Crasland had then said:

“[T]he new name…allows us to emphasize our wide-ranging business objective around changing the way that capital is being raised, with the goal of increasing access, lowering costs and improving regulatory compliance particularly with the issuance of digital securities.”

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Eleven Free Courses To Learn Bitcoin, Blockchain And Cryptocurrencies

One of the best (and worst) things about bitcoin, blockchain and cryptocurrencies is just how new the technology and its practical implementations are.

Prague, Czech Republic – June, 2019: Main crypto currency coins next to each other: Bitcoin, Litecoin, Ripple, Monero, Ethereum.

Getty

One of the best (and worst) things about bitcoin, blockchain and cryptocurrencies is just how new the technology and its practical implementations are. Even though there have been many early adapters, the ecosystem as a whole involves a lot of learning, especially for those looking to come up to speed.

This represents a massive opportunity as well as a pitfall for those who are on the outside looking in. I like to monitor different courses in the space for my own education as well as for resources to share with others to include them as part of the discussion and learning: I’ve compiled this list as a set of reliable resources to do just that.

1-DFIN 511: Introduction to Digital Currencies (Offered By UNIC)

This free online course is taught by Andreas Antonopoulos (author of Mastering Bitcoin) and Antonis Polemitis and it represents the first course in the MSc in Digital Currency offered by UNIC. The course places bitcoin and cryptocurrencies in the broader framework of the history of money, before talking about the practical implementation of bitcoin, other cryptocurrencies, and the evolving relationship between digital currencies and financial institutions, as well as the broader world.

It requires no prerequisite knowledge of cryptocurrencies to dive in. There is a final exam component at the end that tests your grasp of the concepts taught.

2-Coinbase Learn

This simple set of interactive flashcards is a great resource for those who want to cover the basics of cryptocurrencies, from buying and selling to mining in a short amount of time. Other than a slight advertisement of Coinbase as safe and regulated, the mini-course remains an objective resource that covers a lot of ground in a surprisingly intuitive and short fashion. A great resource to share with absolute beginners who have little time on their hands and want to get up to speed fast.

3Coursera (Bitcoin and Cryptocurrency Technologies) Offered By Princeton University

This free Coursera course introduces basic cryptography concepts and then links them to the basics of Bitcoin. Through videos, the course lecturer explains how decentralization is implemented in practice, how Bitcoin mining works, and how Bitcoins are stored. A short explanation is then given to altcoins and the future of the space.

The course is offered by Princeton University, and though no certificate is presented for completion, the knowledge and way it’s presented serves as a useful introduction to cryptocurrencies and Bitcoin principles, with an emphasis on the security of Bitcoin. The instructor, Arvind Narayanan is an assistant professor of computer science at Princeton who focuses on the security and stability of Bitcoin — so that’s naturally where his Coursera course gravitates towards.

You’ll want to get more information about the rest of the ecosystem outside of Bitcoin elsewhere, but otherwise, this is a solid resource.

4- EdX (Bitcoin and Cryptocurrencies) Offered By UC Berkeley

This UC Berkeley EdX course differentiates itself by also offering a dedicated section to the Ethereum Virtual Machine, along with a specific section focused on the game theory of what it would take to attack the Bitcoin blockchain — a fresh approach to enumerating the theoretical security pitfalls of the system.

In an interesting twist, the two instructors were undergraduates who are part of the Blockchain @ Berkeley group. The course, like other EdX courses, is free to audit and take but will cost money ($99 USD) if you want a verified certificate to prove your completion.

5- 101 Blackboard Series

This Youtube series focuses on some specific technical elements within bitcoin, from the components of private keys, to confronting the scaling and centralization risks sometimes inherent in the way bitcoin and cryptocurrencies are implemented in practice.

6- Ethereum (Learn Section)

The learning section of the ethereum.org website (the official website for ethereum) includes a series of free resources that are curated together in lots of detail about ethereum, the second largest cryptocurrency by market capitalization. It dives into the smart contracts side of ethereum, as well as the basics, and also focuses on knowledge for the latest updates and roadmap for ethereum. At the end, a section is dedicated to criticism and other perspectives on how ethereum could be doing better — leaving it a fairly well-balanced selection of knowledge about the ecosystem that is packaged like a curated course.

7- Udemy (Introduction to Cryptocurrencies and Blockchain)

A free course with about two hours worth of video on the basics of distributed systems and its placement in the history of money. Perhaps a good resource for people who want to take a slightly slower pace than the Coinbase flashcards, but don’t want to be fully immersed in different elements of blockchain and different parts of the ecosystem as with the fully-fleshed out courses presented by EdX and Coursera.

It’s a free offering on Udemy that has also been used by about 40,000 other students.

8- EdX (Introduction to Hyperledger Blockchain Technologies)

This EdX course, offered through the Linux Foundation (which is building the HyperLedger framework) offers an introductory course to blockchain and what role HyperLedger plays in the space, as well as the tools available. It’s built for a non-technical business audience, and is an introductory course to blockchain principles outside of the discussion around Bitcoin, Ethereum and other cryptocurrencies. The course itself is free, but a verified certificate from EdX will cost $99 USD.

9- DeveloperWorks (Blockchain Essentials)

This video course, developed in partnership with IBM, and taught by two developers in IBM’s blockchain enablement division, goes over the basics of blockchain then leads to a demo and lab component where you can actually work with the HyperLedger framework and practice with it. You’ll be able to use the HyperLedger Composer after this course. While slightly more technical, the level is still marked for beginners, even non-technical ones.

10- Coinbase Earn

What’s better than free? Earning money for learning. Coinbase offers a selection of introductory courses and quizzes in cryptocurrencies that don’t often have a dedicated course, such as Dai (a stablecoin), EOS and privacy focused ZCash. This will allow any learner to get a more holistic view of altcoins and different cryptocurrencies than the standard courses focused on bitcoin and ethereum. You’ll earn small amounts of the cryptocurrency in question for answering quiz questions on the topic, so you’ll have a small amount to work with in practice after.

11- Cryptoeconomics Textbook

This mini-textbook course, offered by Ivey Business School in Canada (associated with the University of Western Ontario), focuses on a crash course to bitcoin in the framework of the economic impact and aspects of bitcoin activities. Consider it a mini-crash course in bitcoin that also ties it to its broader economic impact.

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Altcoin Apocalypse: Only Two of Top Ten Crypto Cap Have Outperformed Bitcoin

The further Bitcoin has climbed, the worse the altcoin market has suffered, to the point many are calling for an altcoin apocalypse that takes the price of …

The further Bitcoin has climbed, the worse the altcoin market has suffered, to the point many are calling for an altcoin apocalypse that takes the price of most crypto assets to zero, except for Bitcoin and a select few that still provide value and utility.

Of the top ten crypto assets, only two altcoins have statistically outperformed Bitcoin year-to-date and could provide insight into which altcoins have the best chance of recovering and reaching a new all-time high.

Only Two Out of Ten Crypto Coins Have Outpaced Bitcoin

While many crypto analysts are calling for another 50% drop in the altcoin market that’ll form a double-bottom, others believe an all-out “alt season” is just ahead. The answer, however, is likely somewhere in between, with many altcoins from the last hype bubble doomed forever, and other clear winners with real utility emerging from the ashes of the altpocalypse.

Related Reading | Continued Bitcoin Correction Could Cause Lead to Altcoin Market Double Bottom

A quick look at the crypto market top ten by market cap and how they’ve performed in correlation with Bitcoin could help shed some light in which of the bunch will return to their former glory and even go on to set new highs.

According to data shared by San Diego-based Blockforce Capital Chief Investment Officer David Martin, only two of the top ten crypto assets have outpaced Bitcoin in 2019 thus far: Litecoin and Binance’s native token, Binance Coin or BNB.

10/ #Altcoins Altcoins continue to underperform #bitcoin, as #BNB and #LTC are the only two in the top ten that are outpacing bitcoin year-to-date. #ETH#XRP#BCH#EOS#XLM#TRX#ADA#BTCpic.twitter.com/DUzRMe2JZF

— David Martin (@mrtn_dvd) August 12, 2019

Bitcoin has grown 168% in 2019, while Litecoin has brought investors as much as 214% year-to-date. Binance’s native crypto token’s year has been nothing short of amazing, setting new records and gathering more and more use cases each new day. It’s helped the altcoin asset perform 364% in 2019 so far, making it the top-performing crypto of the year.

Bitcoin Cash is right behind Bitcoin in fourth place, and EOS edges out Etheruem in a neck-and-neck race for fifth and sixth. Cardano is in seventh, followed by Tron in eighth place.

In ninth place is Ripple, held down by the company behind the protocol selling off an abundance of tokens throughout the year – something that they say will be reduced in the future. In dead last in the top ten, is Stellar, which has barely shown any performance in 2019 and has only declined further year-to-date, making it the clear loser of the bunch.

Most Alts Won’t Reach All-Time High If Altcoin-to-BTC Ratio Remains

Many of these altcoins would have suffered further if not for Bitcoin driving up their USD values due to their close relation to Bitcoin via their ratio and trading pairs. Altcoin ratios and value relative to their BTC trading pairs have only further dropped, showing just how poorly these assets have performed in correlation to Bitcoin.

Related Reading | Crypto Capitulation: An Altcoin Obituary, Or the Biggest Buy Signal Ever?

If current ratios are maintained, most altcoins would never again revisit their all-time highs or set new ones, even if Bitcoin were to reach $100,000 per BTC. The realization that crypto investor’s already heavy bags may only get heavier, while Bitcoin continues on toward its next bull run, the leading crypto asset has only further absorbed the capital from altcoins. While most believe that an alt season could occur once Bitcoin continues to correct, others believe that the negative sentiment and sell pressure surrounding altcoins could drag Bitcoin down and cause the crypto market to collapse completely.

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Ethereum at a Crossroads, ZEC De-Listed by Coinbase as ALGO Steps Up, Aug. 12

Ethereum sits above two key supports and awaits a catalyst. ZCash has been removed from Coinbase UK as ALGO gets promoted to the Pro platform.
Coins and Tokens4 min, 52 sec READ

Ethereum sits above two key supports and awaits a catalyst. ZCash has been removed from Coinbase UK as ALGO gets promoted to the Pro platform.

The cryptocurrency market is lower this week with only Binance Coin showing a gain in the top 34 coins by market cap. In fact, we have to go as low as 78th in the list to find a double-digit gain for the last week.

In the financial markets, we saw another strong move in gold with a $70 gain bringing the precious metal to the $1500 level for the first time since April 2013. The breakout in gold highlights the fact that all is not well in the financial system. There are now 10 countries with negative yields on their 10-yr bonds, nine of which are in Europe and the other is Japan. Outside of those 10 countries, we have other nations in a race to the bottom with the recent U.S. rate cut. Last week, New Zealand saw a 50% rate cut. Some banks are now looking at passing the negative rates onto customers, where you would pay crippled banks for the privilege to hold your money. These dynamics are where cryptocurrency and alternative stores of value come into play. Gold has always been criticized for the reason that it has zero yields but this is negated in a negative rates environment.

Do not let the calm environment fool you. This is the current financial system receiving a stealth bailout, on top of the trillions that were spent on Quantitative Easing (QE). Despite this huge show of support from global policymakers we still have very little growth. Industrial production figures from Germany were poor last week and the U.K. saw its GDP turn negative for the first time in seven years. Do not be surprised if we see some form of an event before the end of the year. Brexit is hurtling towards a ‘No Deal’ exit for the U.K. on Halloween and now we have Italy’s Matteo Salvini calling for a snap election in the country in a bid to end the coalition government and grab power. This would be a huge headache for the EU and risks further market turmoil. The stage is possibly being set for the next big rally in cryptocurrencies.

ZEC

The UK division of Coinbase has dropped support for Zcash and this will come into effect from the 26th August. The exchange hasn’t stated why but advised holders to move coins to an external wallet or convert them to other currencies.

zcash coinbase
ZEC Price Index

The timing of the move caps a bleak summer for ZEC with price collapsing from $120 to its current price of $58.47. There is some support at this level but it would be unwise to predict the low and there is unlikely to be a quick turnaround from the 5 consecutive bearish bars on the weekly chart. The market cap has dropped from highs of $800 million to a current $400 million.

For the moment there is no indication that other jurisdictions will see ZEC removed.

ALGO

algo coin

Another coin listed on Coinbase Pro and receiving a boost from the so-called “Coinbase Effect” was Algorand. The project is based in Boston and created to tackle blockchain decentralization, scalability, and security. Algorand completed a $60 million token sale last month which valued the project at $6 billion.

ALGO has since seen double-digit gains in its price and volume since the Coinbase news. The move is a significant win for the project as it has jumped the line ahead of many established coins which have yet to receive Coinbase support.

ALGO is currently ranked 1896 in the list of coins by market cap with the price near $0.80 but this could improve quickly as new investors study the project. The coin is available on some of the main exchanges with support Binance, Huobi, and OKEx. Algorand was founded by Silvio Micali, a cryptographer and Turing award winner.

ETH

ethereum
ETH Price Index

Ethereum is at a crossroads on the daily chart as it seeks to hold an uptrend line and the $200 level. Ethereum’s market cap is currently $22 billion after seeing a recent swing high at $34 billion and the price has underperformed Bitcoin following the June highs with a drop from $350 to $211. This highlights the speculative inflows to altcoins. Bitcoin is supported by safe haven, “store of value” flows and in areas such as futures trading. The rally in gold is adding weight to the argument for alternative assets with fears growing over the financial system and more cuts and possibly QE expected down the line.

A recent report by researchers Electric Capital has shown that Ethereum leads the crypto market with active monthly developers working on the platform. Bitcoin has only half of that with 47. The number of developers working on public coins has doubled in the last 2 years and the report also noted that,

Many projects who are being abandoned by developers are forks of high network value coins. Dogecoin has no developers for consecutive months; Litecoin fell from 40 monthly developers to 3 developers in the last year; and forks like Bitcoin Diamond and Bitcoin Gold have had fewer than 5 developers a month since October, 2018.

The report only looks at contributors to the core protocol so it doesn’t count development outwith the master branch. Litecoin’s Charlie Lee was one founder who was quick to state that his project was not being “abandoned” as the report suggests.

The cryptocurrency market will be led by Bitcoin in the next weeks as usual and its price action up near the $12,000 level will be the key going forward. If it was to see new highs, many of the altcoins that pulled back harder, such as Ethereum would likely have better upside potential than BTC for a “catch up” rally.

Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.

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