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Crypto Analyst: Buy The Dips, Bear Market Definitely Over

Traders and crypto analysts are constantly looking for
signals that the bear market is definitely over and a major trend reversal has occurred.
Markets were up an impressive 50 percent in May surging from $175 billion to
$265 billion by the end of it. More signals are indicating that a new bull
market has begun so any corrections now will be opportunities to buy the dips.

Following Friday’s $28 billion market rout, the weekend saw renewed buying pressure and things quickly started to recover. By late Sunday Bitcoin had already returned to $8,800 and many of the altcoins were doing even better. Another chance to correct dissipated as momentum returned to crypto markets and dip buying was clearly going on.

1 Week Super Guppy Goes Grey

Analyst and trader Josh Rager looked at the three day super
guppy last week when it flipped to green for the first time since 2016. A Guppy
is a multiple moving average technical indicator that identifies changing
trends, breakouts, and trading opportunities in price. It achieves this by
combining two groups of moving averages with different time periods.

To confirm the signal the one week guppy has now started to
turn grey which is a prelude to green.

“After looking at the 3 Day Guppy chart, we confirmed a bull trend as it flipped green. Now we see the 1 week flip from red to grey signaling end of bear market after the price pushed 7k. Guppy is a lagging indicator but makes for strong confirmation IMO,”

Many are still expecting a sizeable pullback and the 30
percent figure has been bandied about recently. During the last uptrend Bitcoin
corrected by over 30 percent eight times yet still recovered to post new
all-time highs. When asked about buying dips, Rager added;

“People have questioned if “dips are buying”. And my answer is still a strong “yes, dips are for buying”. Even if we do see strong pullback lasting weeks, the correction will only serve to refuel a strong move up post-correction with past avg of 150% gain between 30% pullbacks,”

The other notion at the moment is an altcoin resurgence if
and when Bitcoin pulls back. So far this year, as in early 2017, altcoins have
been tethered to the movements of the bigger brother. During May Bitcoin gained
55 percent, Ethereum
60 percent
, BCH 60 percent and EOS made 60 percent. Momentum is all pretty
similar and the markets have not decoupled. This would have to occur for
altcoins to start eating into that 56 percent dominance than Bitcoin has held
for the past couple of months.

A major correction could signal the beginning of altseason,
but either way there will be plenty of opportunities to buy the dips as this
uptrend gains momentum.

The post Crypto Analyst: Buy The Dips, Bear Market Definitely Over appeared first on Ethereum World News.

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Circle Beat The Bearish Market: “We Had Very Significant Growth Last Year” its CEO Says

The market for cryptocurrencies and blockchain technologies remains a reasonably lucrative business despite the bearish trend experienced by tokens in 2018. Regardless of the technical indicators, businesses applying the “Buidl” philosophy have shown considerable growth, and Circle is an excellent example of this.

In an interview for Fortune’s Balancing the Ledger, Jeremy Allaire, CEO of Circle explained that although trading volume has decreased, the valuation of his Exchange and the use of its services grew over the last year:

When there’s not volatility, or prices are down, then volumes are down. We had very significant growth year last year, even though there was a crypto bear market

After Buying Poloniex, Tokenized Securities are under Circle’s Radar

Circle is one of the most influential companies in the world of cryptocurrencies, its OTC Trading Desk is extremely popular among high-volume traders. Likewise, the company was able to position itself in the spot trading market after buying Poloniex for a value close to 400 million dollars.

Poloniex Logo

According to information provided by Fortune, after its last round of funding, Circle was privately valuated at $3 billion; however, a report by Frank Chaparro published by The Block suggests that after the Bitmain debacle, Circle’s valuation could have fallen to less than $1 billion.

Despite the drop in volume, the Circle team has significant projects in mind, one of the most critical being the development of a tokenized securities trading platform. To this end, the recent acquisition of SeedInvest is a major strategic decision taken by the board of directors.

We’re going to look at ways that we can bring the benefits of digital assets, crypto technologies, and blockchains into this whole area of issuing securities over the internet

Circle is Focused On Promoting USDC. Facebok And USDT Are Not a Threat

USDC Coin Logo

Also, Circle is focused on promoting USDC, its native stablecoin. After the scandals that questioned USDT’s credibility and recent USDT claims that it is not 100% 1:1 backed by real dollars, Circle hopes to improve the positioning of its stablecoin by increasing its presence in other exchanges.

Facebook’s intention to issue its own stablecoin, did not concern Mr. Allaire; in fact, he commented that such initiatives are beneficial to the ecosystem:

I think it’s a great sign that major Internet companies are starting to look at issuing cryptocurrencies … That’s very, very positive in our view overall.

The post Circle Beat The Bearish Market: “We Had Very Significant Growth Last Year” its CEO Says appeared first on Ethereum World News.

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Crypto Collapse Plunges Market Cap to 16 Month Low

Not since mid-2017 have cryptocurrencies been so depressed. The difference back then though was that the market was bullish and full of energy, today it is the complete opposite.

Over the past 24 hours cryptocurrency market capitalization has nosedived to a new low for the year and the lowest it has been for 16 months. According to data from markets dumped to $103.5 billion around 12 hours ago, their lowest point since the beginning of August last year.

The crash marks an astounding 87.5% decline since the all-time high of $830 billion in early January. As the exodus from digital currencies accelerates, a new low is made every couple of weeks. Another $20 billion has been lost this week alone as markets plunged a further 15%.

Since the same time last month, over half the crypto market has been destroyed with over $100 billion leaving the space. In early November market cap was over $200 billion, today it has collapsed to just over $100 billion.

The mainstream media have been all over this with stories of death spirals and Bitcoin going to zero serving little purpose but to spread more fear, uncertainty and doubt. The blame has been put on the SEC with its constant clampdown on unregulated securities but the cause is likely to be a lot more than this alone. The notion that it will not approve a crypto ETF for some time has also quashed hopes of a recovery.

Chinese miners shorting their newly minted coins have been another nail in the crypto coffin this year. As profitability decreases though, so does mining difficulty which may take some of the control away from the conglomerates and their high powered farms of ASICs.

One thing is for certain, the bears are still in full control of the crypto markets sending them lower every week. Bitcoin has been the leader of downward momentum and its failure to hold support levels on several occasions has sent it to new lows with the rest of the market following. At the time of writing Bitcoin was trading at $3,480, bouncing off a new 2018 low of $3,280 a few hours ago.

The current prediction is that BTC will level out at around $3,000 and stay there for some time before recovering. Though some merchants of doom have even suggested that Bitcoin could go down to $1,500 at which point most of the other altcoins will be practically worthless.

The post Crypto Collapse Plunges Market Cap to 16 Month Low appeared first on Ethereum World News.

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What Caused Crypto Markets to Dump $30 Billion and Hit a New 2018 Low

This year has not been a bright one for cryptocurrencies. The fervor at the beginning of 2018 has dissipated into a shroud of despair towards the end of it. As markets continue dump, new lows are being made leaving us wondering when it will reach the bottom.

Over the past 24 hours cryptocurrency markets have bled $30 billion dollars according to stats from From a level of $219 billion this time yesterday markets have crashed to a new low for the year of $189 billion around eight hours ago. A small correction has pulled them back to $192 billion but further losses look imminent.

It is the third lower low in August indicating that the down trend is steepening. A whopping $110 billion has left the crypto space in less than three weeks as markets plunged 37%. Bitcoin has fallen sharply dropping 27% from its July high of $8,350 to its current level at just over $6,000. This has caused the altcoins to shed even more as they get dumped in a fury of FUD. Many of them including Cardano, Iota, Tron, Neo, Binance Coin, VeChain, and 0x are getting smashed over 20% on the day.

There has been some speculation as to what is behind this big dump as the SEC’s delay of the CBOE ETF would not have caused such a collapse but may have been the catalyst for it.

Senior market analyst at eToro, Matti Greenspan, suggested the US dollar is having an influence when he told the WSJ;

“The crypto markets falling may well be a side effect of the dollar strength right now. The buck is simply crushing everything in its path.”

Other analysts have blamed Ethereum for the last two day’s declines as ICO projects offload their ETH holdings to liquidate assets in a bearish market. Ethereum has been crushed overnight with an 18.5% slide to $260, its lowest level since September last year. Since early February over $80 billion has been dumped out of Ethereum’s market capitalization sending it back to levels in mid-2017.

Ethereum is still the primary platform for many ICO and blockchain projects but since raising funds in ETH they have been anxious to cash out as the bearish market goes from bad to worse. It appears that this has all happened at once accelerating the free fall that many tokens are now experiencing.

The long term prospects for Ethereum and Bitcoin are still very strong, but this year they are being put through the wringer.


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A Resilient Tron (TRX) is Still Kicking In a Bearish Market

Sundays are usually tricky for the crypto-market. History has show that whatever direction is set in the markets late on Sunday, might be the tone of the entire coming week. Last Sunday saw the total market capitalization that stood at $390 Billion, start declining into Monday and resulted in us seeing the lowest market levels this month on Thursday when it reached $324 Billion. That figure is now at $327 Billion and down 17% in a week.

Bitcoin (BTC) is considerably weak and trading at $7,345. This value is 13.5% lower than last Sunday’s. When we look at TRX, the token was valued at around $0.074 last Sunday and is currently trading at $0.0724. The token has oscillated between $0.0835 and $0.068 in the past week.

The reason for this resilience by TRX is attributed to the MainNet Launch that is now 3 days, 15 hours and 12 minutes away. With Bitcoin (BTC) showing signs of further decline, it is safe to conclude that there are only 2 options for TRX. The first one being a further increase in value leading up to Thursday. A second is the token exhibiting sideways movement in the coming week.

Also to note, is the beehive of activity with respect to the TRX and as we enter June. Ethereum World News had highlighted the events that will kick off on the 31st of May and end with the Super Representative elections on the 26th of June. This means that a lot will be happening in the next four weeks or so, to warrant corresponding upward market action for TRX.

Justin Sun has also upped the game in terms of having partnered with vSport ahead of the FIFA World Cup that starts on the 14th of next month. There has also been news of Justin, through the Tron Foundation, wanting to buy BitTorrent.Inc. All these events are factors to consider as we walk into June in a few days.

In a nutshell, the entire market is in a bearish trend. TRX has a few events lined up that will surely help the token, and later coin, to stay afloat as the rest of the crypto-market takes a hit from the current trend. Some analysts have even considered TRX to be gearing up for an uptrend in the coming days.

Disclaimer: This article is not meant to give financial advice. The opinion herein should be taken as is. Please carry out your own investment research before investing in any of the numerous cryptocurrencies available. Thank you.

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