Altcoins are growing, market is falling

This week is highly disscussed among crypto fans, no wonder, starting from the largest partnership in history to the monstrous loss of Japan and not just that.

Bitcoin is recommended for buying by Pantera Capital

That’s their fourth recommendation in 7 years, as they rarely recommend anything related to crypto

The CEO of investment fund Dan Morehead has said that the mark of $6,500 for Bitcoin is limit and hardly he will go below.

In the April letter to investors Dan Morehead noted high probability that the Bitcoin will grow and will even overcome a December maximum of $20,000. According to Morehead it can happen by the end of 2018.

I rarely have such strong conviction on timing. A wall of institutional money will drive the markets much higher

Dan Morehead, CEO of investment

Dan hasn't given any statement and yes, he makes some recommendations not to often, he has announced possibility of such events, take it into account. But something confuses in this news. Such famous analyst and fund with quite long story in the cryptocurrencies market (organized in 2013), couldn't save investors money from global correction and loss, moving down together with market falling.

According to Joey Krug (co-chief investment officer of Pantera Capital) letter to clients fund of digital assets has lost only 3.1% since 1 December 2017 in comparison with Bitcoin which for the same period has dropped by 37.4%. At the same time only in March, 2018 assets of Pantera were reduced by 45.7%. But the market has begun its slowly grow practically from the middle of March, nevertheless the fund continued to lose money since January, without taking any action, at least for fixing profit and or limit the losses.

Such result approximately meets our expectations if to take into account the big movements in the market in general

Joey Krug, Co-Chief Investment Officer of Pantera Capital

Verge claimed they partnered with PornHub

In reality, they didn’t, the famous adult site now only accepts XVG as a form of payment. Somehow that has driven the price down a lot.

Representatives of XVG (Verge) announced ‘the largest partnership in cryptocurrencies history’ on March 27 from that date the price of a coin has begun to grow. From the moment of the announcement before direct disclosure of the partner altcoin has increased by more than 200 percent (from $0.03 to 0.11 for a coin). But after the announcement of partnership with PornHub price dropedl to $0.07 for a coin and trades on this mark for now.

Community accepted it differently, but it should be noted that it has serious value for a resource as Pornhub, because it gives high importance to the protection of clients confidentiality. But what is even more important, it is a big step for promoting the pluses of cryptocurrencies anonymity.

Such resources as Brazzerz, Reality Kings, You Porn, DP (Digital Playground) also begun to accept XVG (Verge). Developers started a contest for 300,000 XVG (Verge) and also as a prize — date with some of pornstars. I very doubt that there will be no participants.

IBM’s favorite crypto, Stellar Lumens, breaks above $0.31 as market confidence grows

Stellar recently got some interesting projects based on its platform, so this growth seems natural

XLM (Stellar) altcoin grew up in cost and reached capitalization in $6,3 million — the best indicators for the last six weeks. Experts consider the most probable cause of such rise is the future ICO connected with marijuana.

The Canadian producer of marijuana — Nezly, became the new partner of the platform. The company plans to use tokens as payment for its product and the other services and also they plan to create a blockchain ecosystem with mobile applications. ICO Nezly will start this Friday (20 April). It will be possible to get tokens in exchange for BTC (Bitcoin), ETH (Ethereum), XLM (Stellar) or US dollars. The company has set the top limit of sales in $36,5 million, the total amount of available tokens is 120 million.

Cardano grows when all market falls. Listing of ADA at Huobi and new trading pairs at Binance

Despite the rather deep falling of the prices ADA (Cardano) continues to grow for the last several months, the cryptocurrency still is in top 10 rating of CoinMarketCap. News about adding of a new pairs on Binance has positively affected a price. So for the last week its average price has grown more than 30%

Besides pairs added earlier with Bitcoin and Ethereum, now there is also an opportunity to trade in ADA(Cardano) against Binance Coin (ADA/BNB) and Tether (ADA/USDT).

At the same time the movement of the price was pushed up by listing of ADA(Cardano) on the Huobi exchange which takes the second place in the world on cryptocurrencies exchanges.

It is worth reminding that on May 3 ADA (Cardano) is planning to publish an update to a Road map. The previous updating raised the altcoin price  for more than 20% in a day of announcement.

Kraken is leaving Japanese сryptocurrencies market

One of the oldest cryptocurrency exchanges in the world — Kraken — will stop serving clients in Japan. The company has explained the end of the activity in the region with the e-mail for clients:

Suspending services for Japan residents will allow us to better focus on our resources to improve in other geographical areas [...]. This is a localized suspension of service that only affects residents of Japan and does not impact services for Japanese citizens or businesses domiciled outside of Japan.

from the official e-mail

In March 2018 exchange has closed a number of bank accounts and also stopped accepting deposits in the US dollars, Euro and the British pounds through the SWIFT system.

It is necessary to pay attention to the exchange assets, as the date of closing approaches, the prices, in connection with the increasing need of their urgent withdrawal (until the end of June), will probably fall.

BNB

16.98 USD
11.21%

ADA

0.06157 USD
-3.75%

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Bitcoins’ (BTC) Sudden Movement Suggests a Dump, But ETH, EOS, LTC, BCH And BNB Takes Lead for Altseason

The market apprehension for a movement in Bitcoin price grows by each passing day. It might be an indication of accumulation in Bitcoin. However, some technical indicators also suggest a downward motion. The bearish engulfing channel on 21st March with a break-down from the uptrend indicate bearish momentum for Bitcoin. The price of Bitcoin (BTC) at 13 00 UTC on 24 March 2019 is trading at $4027. The price on a weekly scale reflects no movement. However, there was a dump on 21st March from which the market has recovered. Nevertheless, $3850 on the downside and $4150 on the upside remains the primary support and resistance level respectively. On the Fundamental front, traders are awaiting the Mt. Gox credit date. It is estimated that about $600 million in cryptocurrencies and FIAT will be reimbursed to the victims of the hack in 2014. Hence, the market is unsure whether it will result is a spike or a downtrend. The Bitcoin ETF proposal which is expected to increase the demand for Bitcoin as an asset is also pending eternally with the US SEC with no confirmed deadline. Ethereum and EOS Continues to Consolidate Ethereum which was under bearish pressure since June in 2019, looks to break above the 50,100 and 200-Day Moving Average. The three Moving Average lines are coinciding with each other on the 1-day chart of ETH/BTC. Ethereum has stayed stable over the week near the $140 mark in the range of $3. The price of Ether (ETH) at 13 00 UTC on 24 March 2019 is trading at $137.5. ETH/BTC 1D Chart on Bittrex EOS which was recently ranked above Ethereum in a Chinese Survey has continued to maintain a stable position at number five w.r.t to total market capitalization. The price of EOS at 13 00 UTC on 24 March 2019 is trading at $3.65. It is trading 3.5% lower on a weekly scale. Litecoin (LTC) and Bitcoin Cash (BCH) Price Movements The price of Litecoin (LTC) at 13 00 UTC on 24 March 2019 is trading at $60.06. It is trading 2% lower on the weekly scale, but the decisive break above $60 seems to mark bullish momentum for Litecoin. The price is also moving above the 50,100,200-Day Moving Average. LTC/BTC 1-D chart on Bittrex The price of Bitcoin Cash (BCH) at 13 00 UTC on 24 March 2019 is trading at $166.62. It is trading 9.24% higher on the weekly scale. The 1-Day chart of Bitcoin Cash resembles the chart of Litecoin. Moreover, their utility and performance are also comparable. Hence, in a diverse cryptocurrency market coupling of these currencies is a possibility. Cardano’s ADA Out-Performs the Other Platforms The price of Cardano’s token (ADA) at 13 00 UTC on 24 March 2019 is trading at $0.062. It is trading 22% higher on the weekly scale. IOHK, the Hong-Kong parent organization behind Cardano announced the successful completion of its Byron Phase and has successfully moved to the Shelly phase. Despite stiff competition from other popular platforms like Ethereum, EOS, and Tron, Caradon continues to be in the top ten cryptocurrencies by market capitalization. Cardano Updates Roadmap Binance (BNB) Coin and Huobi Token (HT) The Exchange based token Binance (BNB) coin and Huobi Token (HT) have made significant progress since the beginning of the year 2019. These two are the most successful Exchange backed tokens. Nevertheless, BNB is ranked 7th while Huobi Token (HT) is ranked 50th w.r.t total market capitalization. The price of Binance (BNB) Coin at 13 00 UTC on 24 March 2019 is trading at $17.02. It is trading 7.64% higher on the weekly scale. The price of Huobi Token (HT) at 13 00 UTC on 24 March 2019 is trading at $2.52. It is trading 22% higher on the weekly scale. Some of the other notable action in altcoin market was observed in Basic Attention Token (BAT), Tezos (TZX), Zcash (ZEC), Augur (REP), Digibyte (DGB), Huobi Token (HT), Enjin Coin (ENJ), and OmiseGo (OMG). These tokens registered double-digit gains over the week. The rise in Tezos (TZX) was the highlight with a surge of almost 40% followed by Huobi Token (HT) and Digibyte (DBG). Do you think the accumulation in cryptocurrency has begun or downtrend is still possible? Please share your sentimental or technical analysis with us as well. The post Bitcoins’ (BTC) Sudden Movement Suggests a Dump, But ETH, EOS, LTC, BCH And BNB Takes Lead for Altseason appeared first on Coingape.
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