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

6.49 USD
1.09%

ADA

0.04304 USD
1.63%

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Asian Crypto Exchange Huobi is Tightening its Belt in the Bear Market, Plans to ‘Spend Money Carefully’

From CCN.com: Have you ever heard the expression ‘hope for the best and prepare for the worst’? Chinese cryptocurrency giant Huobi, a former ‘big three’ exchange, is doing exactly that. Although the exchange is a profitable business that still makes money every month, they are laying off staff and preparing for the worst amidst this The post Asian Crypto Exchange Huobi is Tightening its Belt in the Bear Market, Plans to ‘Spend Money Carefully’ appeared first on CCN
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Crypto Market Update: Stellar (XLM), Bitcoin Cash, Tron (TRX), ADA Price Analysis

The total crypto market cap tested the $102.00B level and later bounced back above $115.00B. Stellar (XLM) price is still trading nicely above the $0.1000 support, with range moves. Bitcoin cash price jumped more than 7% and broke the $130 resistance level. Tron (TRX) broke the $0.0260 resistance recently and it could continue towards $0.0280. Cardano (ADA) price is slowly moving higher towards the $0.0440 and $0.0450 resistance levels. The crypto market recovered nicely after a sharp drop in bitcoin (BTC), Ethereum and ripple. Therefore, there could be more gains in BCH, Stellar (XLM), Tron (TRX), EOS and Cardano (ADA). Bitcoin Cash Price Analysis After testing the $120 support level, bitcoin cash found a strong buying interest against the US Dollar. BCH/USD started a nice upward move and traded above the $125 and $128 resistance levels. It even broke the $130 resistance, opening the doors for a test of $135. If there is a downside correction, the price may find support near the $130 or $128 level in the short term. Stellar (XLM), Tron (TRX) and ADA Price Analysis Stellar price remained in a tight range above the $0.1000 and $0.1020 levels. XLM seems to be preparing for the next break and it could either surpass $0.1080 or decline sharply below $0.1000 in the coming days. Tron price rallied yesterday and broke the $0.0250 and $0.0260 resistance levels. TRX is currently consolidating gains and it may continue to move higher towards the $0.0280 or $0.0300 resistance levels. Cardano price is holding the $0.0420 support area, with positive moves. ADA price is positioned for more gains towards the $0.0450 resistance level as long as it stays above the $0.0420 support area. Looking at the total cryptocurrency market cap hourly chart, there was a sharp decline below the $110.00B and $105.00B support levels. The market cap tested the $102.00B support level and later bounced back. It broke the $110.00B resistance and a key bearish trend line on the same chart, opening the doors for more gains in the near term. Therefore, there are high possibilities of an upside extension in bitcoin, Ethereum, EOS, stellar, LTC, EOS, ripple, TRX and other altcoins. Crypto Market Update: Stellar (XLM), Bitcoin Cash, Tron (TRX), ADA Price Analysis was last modified: January 23rd, 2019 by Aayush JindalThe post Crypto Market Update: Stellar (XLM), Bitcoin Cash, Tron (TRX), ADA Price Analysis appeared first on NewsBTC.
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