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Realistic current crypto market trends: Bitcoin, ETH, Litecoin, Digibyte, XRP

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You’re probably sick of hearing that the cryptocurrency market has been going down since last December. Many neutral observers thought we were close of hitting bottom at last. Then came November 14th and it brought the market down strepitously. That should have been it, right? Wrong. On Monday it plummeted yet again.

Fasten your seatbelts because there is no guarantee that we have finally reached the lowest we could go. The signs are still bearish.

In this article, we’re going to share with you the conclusions that can be drawn from the technical market analysis, without delving into all the dirty details. No lines, no graphs, we’ll use plain English only.

Bitcoin

After a long stability period, BTC broke down on Wednesday last week, and then again on Monday this week. The expected behavior in these conditions is for the coin to bounce back briefly (it’s yet to happen, as we write this as the crypto-king still trades in red numbers concerning the last 24 hours) but only to fall again. Yes, Bitcoin can go lower (even to 3k), and chances are it will, don’t be deceived by the current rise, it’s not here to stay. Remember to follow the moving averages.

Ethereum

It’s getting very close to its support level (which is $100, the price is $132 as we write this). This is one to watch closely because of that. The support level is the price at which buyers come back to the market. Then the volume increases and the market bounces back. The next support level would be $55.00. Planning for both scenarios would be wise.

Litecoin

It’s at $34, and it’s been fluctuating over the last 24 hours. The signs give the day to the bears, but a small reaction is expected to occur soon.

Digibyte

It’s lost a lot of support. The level was at $0.015, and it’s been so close to it that it could bounce back anytime now. In fact, it traded in green numbers till last night before going into red-pool this morning again. If it goes further down, which is likely, then the next support level would be at $0.01 (stands at $0.012 currently). Digibyte should rise again at that point.

XRP

It’s been the most stable coin lately but it’s still had some fluctuation. If XRP reaches the $0.50 mark, it could go all the way up to $0.80 quickly, but if the market doesn’t follow through then, it will drop again.

The next support level is $0.38. If there is no buying pressure at that level, then XRP could go as far down as $0.30. Both things could happen so it will be essential to follow the trend. As we write this, it’s at $0.436 and trading in the red.

Please remember that we are not offering you financial advice of any kind, we just try to keep you updated with the market’s latest tendencies.

The current market is not exactly enticing, but it is, nevertheless, a rare opportunity to observe it, study it, and learn from it so that you can take advantage of similar behaviors in the future. Learn your market analysis and observe.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image Courtesy of Pixabay.

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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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