I Bought $10,000 Of These Altcoins! Bitcoin Price $14k in 7 days! Ethereum 2.0 Launch! Crypto News
ALLTCOINS CRASHED! I bought $10,000 of these altcoins while altcoins were cheap! Bitcoin Price is currently breaking above $11,000! Bitcoin could reach $14,000 $14k as soon as FRIDAY! But will Bitcoin hit $14k in 7 days? Ethereum 2.0 is coming! Ethereum 2.0 Launches! Ethereum 2.0 is highly anticipated by the altcoin and bitcoin and crypto community. Ethereum 2.0 will allow you to profit from staking!
Also today we look at bitcoins price, the price of gold, the price of Dow Jones. Bitcoin Price has recently broken above $11000, How long will bitcoin stay this high?
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BITCOIN PUMPING DOLLAR CRASHING AND ETHEREUM IN BIG TROUBLE!!! Crypto News 2020
BACKGROUND ART BY Josie Bellini
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Ethereum Correcting Gains But 100 SMA Could Trigger Fresh Increase
Ethereum started a downside correction from the $335 swing high against the US Dollar. ETH price is currently approaching a major support zone near $305 and the 100 hourly SMA.
There was an upside extension above $330 in Ethereum against the US Dollar. ETH price traded to a new monthly high at $335 and the price settled well above the 100 hourly simple moving average.
The price is currently correcting lower and trading below the $325 level. There was a break below the 50% Fib retracement level of the recent upward move from the $307 swing low to $335 high.
Moreover, there was a break below a key ascending channel with support near $318 on the hourly chart of ETH/USD. The pair is now trading below the $320 level, but there are many supports on the downside. An initial support is near the 76.4% Fib retracement level of the recent upward move from the $307 swing low to $335 high.
Ethereum price corrects below $320. Source: TradingView.com
The first major support is near the $310 level or the $307 swing low. The main support is seen near the $302 level and the 100 hourly simple moving average.
On the upside, the price could face hurdle near the $322 and $325 levels. A successful break above the $325 resistance could open the doors for a push towards the $335 high or even $345.
On the downside, ether price is likely to find many supports, starting with $315. The breakdown support is now forming near the $302 and $300 levels, coinciding with the 100 hourly SMA.
If there is a downside break below the $300 level (the pivot zone), the price is likely to decline towards the $285 support zone.
Hourly MACD – The MACD for ETH/USD is now gaining pace in the bearish zone.
Hourly RSI – The RSI for ETH/USD is currently sliding below the 50 level.
Major Support Level – $315
Major Resistance Level – $325
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Author: Aayush Jindal
Ethereum’s First ICO Blazes Trail To A World Without Bosses
Augur co-founders Jeremy Gardner (second-from left) and Joey Krug (second from right) gather with … [+] their founding team.
If it weren’t for horses, Joey Krug might not have ever gotten into ethereum. Growing up in the small farming town of Knoxville, Illinois, he and his younger brother used to ride their bikes through fields of corn and soybeans looking for trouble. One day, when he was about 9 years old, Krug came across the farm of a local school teacher, who raised and rode horses. He instantly fell in love with the powerful creatures, and pedaled home as fast as he could to ask his parents for one.
Perhaps not realizing the entrepreneurial spirit already growing in their son, they offered him a deal. “They said, ‘No, but if you go there and you muck stalls every day for a year, we’ll get you a horse,’” he says. “I think they assumed there was no way I was going to do that. But I did. I went there every day, mucked stalls, brushed the horses. And so they finally got me this pink horse, a quarter horse named Shimmer.”
When not riding horses, the young boy excelled on his family’s computer, figuring out ways to hack it so it would turn on in the wrong order and get stuck trying to permanently boot up the CD-ROM. By the time he enrolled in an eighth-grade beginner’s computer course, it took him only 15 minutes to do 45 minutes worth of work. Instead of going home, the 12-year-old Krug deposited $20 of birthday money into an off-shore book, and placed a bet.
Not only did the bet win him $20, jump-starting more sophisticated models tracking race distance, jockey and track conditions in a spreadsheet, but it merged his love of horses with computers. Now 26, Krug is the co-chief investment officer at Pantera Capital and a cofounder of Augur, an open-source no-limits betting platform built on the ethereum blockchain that lets anyone build any kind of betting market, without a bookie.
Today, Krug and a team of open-source developers scattered around the world launched Version 2 of that platform, which amounts to a significant leap forward in the world of decentralized applications that function similar to the internet but without the need for trusted third parties. If successful, the profound upgrades could be used to more than just place horse-bets without a bookie; they could mark a turning point in the next generation of the internet.
“When you think about centralized power, it kind of always corrupts,” says Krug, 26, who might in other circumstances have the CEO title, if not for the unusual nature of the project he cofounded. “Somehow, somebody takes too much power, and they do something they shouldn’t. And if you think about regular businesses, too, they have the same incentive, to make as much money as possible. And so Auger is very different. It’s sort of like public infrastructure.”
Augur co-creator Joey Krug on Shimmer, the Palomino horse his parents got him after mucking horse … [+] stalls for a year.
Born in July 1995, Krug grew up surrounded by farms, but his family weren’t farmers. His mom was a physician’s assistant, and his dad an ER doctor. During his freshman year of college, he discovered bitcoin on Overclock.net, a forum dedicated to expanding computer processing power. Shortly thereafter, Krug read retired Congressman Ron Paul’s The Case For Gold and was struck by how irresponsible bureaucracy had led to a U.S. debt of more than $10 trillion at the time.
After hearing further stories from his parents about how another bureaucracy, around the U.S. healthcare system, had deprived them of the joy they once felt helping others, Krug briefly enrolled in Pomona College, based in Claremont, California, with a double focus on computer science and pre-med, hoping he could streamline the process. Fate would have it, though, that he’d get permanently derailed by blockchain. Still, his goal of fixing broken bureaucracy never wavered.
After founding a bitcoin club at school, Krug built a bitcoin point-of-sale app and went door to door to try to convince local Claremont businesses to accept the cryptocurrency. Unable to find customers, he moved to San Francisco in search of another way forward. At around this time a team of researchers at Princeton published an influential paper on creating decentralized prediction markets, or distributed autonomous organizations (DAOs), where betting is used as an incentive to create valuable data about the future. Unlike brash predictions carelessly made around the internet without repercussions, these predictions would have monetary repercussions, but no bookies, or any other middlemen to oversee them.
“It’s interesting from a wide range of aspects,” says Krug, reminiscing about the paper, which also influenced ethereum inventor Vitalik Buterin, now 26. “All the way from my horse-betting days to a real world informational standpoint, you can get data about the real world that you wouldn’t necessarily have without it.”
Initially, Krug joined forces with college friend Jeremy Gardner, now 28, and Jack Peterson, now 37, to build their own implementation of a project that had been circling around the cryptocurrency community, called TruthCoin, that used a modified version of the bitcoin blockchain to incentivize making accurate predictions. Buterin caught wind of the project and approached Krug, explaining that he was in the final stages of launching ethereum, a blockchain similar to bitcoin, but with a computer language that would make it much easier to write more elaborate instructions, called smart contracts, to directly connect bettors to each other.
To pay for all this, over a 45-day period in the fall of 2015, Augur ran the first-ever initial coin offering (ICO), in which tokens were issued on the ethereum blockchain. The privately-held Forecast Foundation, based in Estonia, sold or distributed 11,000 REP tokens to be used on Augur, 80% of which went to “the crowd,” or people interested in participating in the prediction market, 16% of which went to the Augur founding team, including Buterin, and 4% of which went to support the foundation itself. A total of about $5.2 million was raised for the development of the platform by selling more than one million ether tokens and 12,000 bitcoins used to pay for the tokens. At the current rates those tokens would be worth nearly a half-billion dollars.
While REP tokens are able to accumulate and lose value, similar to securities, and are currently worth $20.90 each, for a total liquid market value of $230 million, according to data site Messari, they are unlike securities in that they are crucial for the proper functioning of the prediction market, giving them the unofficial status of “utility tokens.” So-called “reporters” in the Augur ecosystem are required to stake their REP (short for reputation) tokens while they are helping determine the outcome of an event. If the reporter reports in consensus with others, they receive a small portion of the protocol’s fees and their REP remains intact. A reporter can dispute the system 21 times, with their required stake doubling each time, before a fork, or copy, of Augur is automatically created and essentially two different versions of the truth exist.
“Ultimately truth is going to be a public consensus that ends up being determined in the long run by which world does it appear that people want to live?” says Forecast Foundation operations director Tom Kyser. “And presumably that world is going to be the one that the general public and consensus believes accurately reflects reality.”
In the early days of the build, a team of independent and paid coders from around the world worked largely under the management of Augur co-founder Jack Peterson, a biophysicist with a Ph.D from the University of California. After initially laying much of the groundwork for the code, Krug was selected to be a Peter Thiel fellow in June 2016 and the following year joined as the co-chief investor at cryptocurrency and blockchain investor Pantera Capital, which has approximately $500 million in assets under management.
The month after Krug joined Pantera, on July 9, 2018, the first version of Augur was launched, “a very slow, expensive, difficult to use version,” according to Krug. But one that showed that a gambling platform without bookies was possible, and that any kind of market could be built on it. “At that point, nobody had any idea whether this would actually work at all,” he says. “A lot of these were untested ideas.” In version one, dedicated users would have to wait between six hours and 12 hours just to download the app, and could then create markets, determine potential outcomes and make bets denominated in the highly volatile, and increasingly valuable ethereum cryptocurrency.
In total 2,895 markets were created on version one generating volume of 69,662 ether, or roughly $15 million to $20 million depending on the price of ether over the two year period, according to the Forecast Foundation, which helps oversee development. 2,609 unique visitors made more than 15,000 transactions. 650 reporters staked 1,385,843 REP tokens for fees resulting in 5,758 REP in disputes. To give an idea of how much that’s worth, on the early platform’s busiest day, $2.5 million worth of assets were locked in active bets at the same time. To give an idea of how much is at stake here, the global online betting industry alone, dominated by middlemen that connect bettors, including FanDuel and Draft Kings, generated $53 billion revenue last year, according to Grand View Research, and is on track to have a compound annual growth rate of 11.5% from 2020 to 2027.
One of the more prolific applications built on version one was Guesser, a venture-backed outfit based largely in Madrid that uses election forecasting models developed by the same market research firm employed by Marco Rubio in his 2016 Presidential campaign, Optimus Analytics, to let users bet on anything from how many times U.S. President Donald Trump mentions “China” in a speech, to whether or not he’ll be re-elected later this year. “Today in politics, people rely a lot on public polling as a source of data for how a betting market might behave,” says Guesser CEO, Jose Garay, 24. “We provide them with a data engine with orders of magnitude more data points than you can get from simply public polling. And this allows you to set a very straight forward probability, a very solid price, on each outcome.”
The problem was, ether’s fluctuating price meant that if a market didn’t fulfill for months down the road (imagine placing a bet on who wins the U.S. Presidential election today) users could accurately predict the future, but still lose money if their staked funds decreased in value. In addition, with the price of ethereum increasing from about $1.00 when Augur concluded its ICO to $316 today, many ether owners have been hesitant to trade it, resulting in low liquidity. “If Augur version two has to crack one problem, or one challenge” says Garay, “It’s bringing liquidity in big volumes.”
While Jack Peterson was largely responsible for managing the somewhat autonomous team of developers working on version one, Krug worked overtime in addition to his job at Pantera Capital to help bring version two over the finish line. As of today, Pantera hasn’t invested in any startups building on Augur, choosing rather to let the firms raise their own seed capital, then look to the best of those firms for a possible Series A investment, says Krug. “We’d like to invest in whoever we think is doing the best.”
Among the notable changes in version two, Augur now has a scam filter that moves likely-fraudulent markets to an area on the site not immediately accessible to new users, and is integrated with a number of distributed applications (dapps) that also don’t rely on trusted third parties. For example, it is integrated with the 0x open source software that enables free peer-to-peer bets instead of the fee that was previously charged. Instead of betting ether, users bet DAI, a stablecoin pegged to the U.S, dollar, powered by another dapp called MakerDAO, that provides a free, open-source programming interface for anyone who wants to accept the token. Instead of relying on a trusted third-party to convert a user’s funds from ether or another cryptocurrency to DAI, Augur is now also integrated with Uniswap, another dapp to automatically provide liquidity on ethereum. Think of it as a DAO of dapps, among the first of a new kind of companies without bosses. “Everything is sort of interweaved together to broadcast data in an automated fashion,” says Krug.
Screen capture of Augur, v2’s account summary page.
In a lot of ways, the launch of version two of Augur is a return to an earlier, more idealistic—perhaps more naive—time when blockchain innovators might get rich, but that’s not what they set out to do, according to Buterin. In addition to encouraging Krug and the founding Augur team to switch from building on a fork of bitcoin to ethereum, Buterin provided technical insight into how to simplify Augur game theory in a way that more efficiently incentivized truth-telling, and in-turn owns an undisclosed amount of REP.
“At the beginning, it was much less certain that crypto could have worked as a thing at all. And so the teams that were going in were generally teams that have believed in the vision that we’re really doing this collective project for the public good,” says Buterin. “Obviously you have to fund developments, but we’re definitely not going to be greedy about it. And I think what happened over time, and as the model got validated, it started to be definitely this kind of change in mindset where just the fact that it seemed like a clear profit opportunity made it something closer to a kind of regular startup thing.”
Now, that’s not to say the Augur developers are philanthropists. While Krug and the Forecast Foundation team declined to share how much of the original ICO capital they still hold, they explained that the idea isn’t to ever turn the foundation into a profit-generating entity. Rather, the goal is for the organization to follow a similar path as Melonport, a DAO for hedge fund infrastructure, and slowly dissolve once the code on which anyone else can build is complete. At that time, and that time alone, Krug says he might start looking for profit.
“Someday the foundation will run out of money and basically, kind of disappear and this becomes an ongoing community developed open source software project,” he says, “At which point, we could maybe create a for-profit entity on top that does actually try to aggressively make money.”
Author: Michael del Castillo
EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 29th, 2020
EOS rallied by 5.06% on Tuesday. Following on from a 5.07% gain on Monday, EOS ended the day at $3.0048.
It was another mixed start to the day. EOS rose to an early morning high $2.9204 before hitting reverse.
Falling short of the first major resistance level at $2.9785, EOS slid to a late morning intraday low $2.7830.
Steering clear of the first major support level at $2.6879, EOS rallied to a late intraday high $3.0799.
EOS broke through the first major resistance level at $2.9785 before easing back.
At the time of writing, EOS was up by 0.30% to $3.0137. A bullish start to the day saw EOS rise from an early morning low $3.0040 to a high $3.0191.
EOS left the major support and resistance levels untested early on.
EOS would need to avoid a fall through the $2.9559 pivot level to support a run at the first major resistance level at $3.1288.
Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $3.0799.
Barring another extended crypto rally, the first major resistance level at $3.1288 would likely cap any upside.
Failure to avoid a fall through the $2.9559 pivot would bring the first major support level at $2.8319 into play.
Barring an extended sell-off, EOS should steer well clear of sub-$2.80 levels. The first major support level at $2.8319 should limit any downside.
First Major Support Level: $2.8319
Pivot Level: $2.9559
First Major Resistance Level: $3.1288
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum fell by 1.49% on Tuesday. Partially reversing a 3.47% gain from Monday, Ethereum ended the day at $317.59.
A bullish start saw Ethereum rise to an early morning intraday high $327.34 before hitting reverse.
Falling short of the first major resistance level at $333.93, Ethereum fell to a late morning intraday low $306.29.
The pullback saw Ethereum fall through the first major support level at $310.97 before moving back to $323 levels.
A bearish end to the day, however, left Ethereum at sub-$320 levels and in the red.
At the time of writing, Ethereum was up by 0.54% to $319.29. A bullish start to the day saw Ethereum rise from an early morning low $317.52 to a high $319.50.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to avoid a fall through the $317 pivot to support a run at the first major resistance level at $327.86.
Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $327.34.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high should cap any upside.
Failure to avoid a fall through the $317 pivot would bring the first major support level at $306.81 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$300 levels. The first major support level should limit any downside.
First Major Support Level: $306.81
Pivot Level: $317
First Major Resistance Level: $327.86
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP rose by 2.67% on Tuesday. Following on from a 4.33% rally on Monday, Ripple’s XRP ended the day at $0.23070.
It was a mixed start to the day, with Ripple’s XRP rising to an early morning high $0.22698 before hitting reverse.
Falling short of the first major resistance level at $0.2333, Ripple’s XRP slid to a late morning intraday low $0.21773.
Steering clear of the first major support level at $0.2127, Ripple’s XRP rallied to a late intraday high $0.23499.
Ripple’s XRP broke back through the first major resistance level at $0.2333 before sliding back to sub-$0.23 levels.
Finding late support, however, Ripple’s XRP wrapped up the day at $0.23 levels for the 1st time since March.
At the time of writing, Ripple’s XRP was up by 0.87% to $0.23271. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.23085 to a high $0.23271.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to avoid a fall through the $0.2287 pivot to support a run at the first major resistance level at $0.2379.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.23499.
Barring a broad-based crypto rally, the first major resistance level should cap any upside.
In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.2451 before any pullback.
Failure to avoid a fall through the $0.2278 pivot would bring the first major support level at $0.2206 into play.
Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.22 levels and the second major support level at $0.2105.
First Major Support Level: $0.2206
Pivot Level: $0.2278
First Major Resistance Level: $0.2379
23.6% FIB Retracement Level: $0.3638
38.2% FIB Retracement Level: $0.4800
62% FIB Retracement Level: $0.6678
Please let us know what you think in the comments below.
This article was originally posted on FX Empire
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