Crypto Calculated: How Ancient Math Predicts Bitcoin’s Next Top At $270K

Crypto Calculated: How Ancient Math Predicts Bitcoin’s Next Top At $270K

As Bitcoin takes out $11,000 and potentially aims higher, renewed talk of the crypto asset’s next potential peak has returned to the market.

Analysts do their best to do more than just speculate, backing up theories with fundamental statistics or technical signals to predict future prices. But could it all be based on mathematics that’s been around for centuries? And if so, could Bitcoin’s next peak be at $270K?

Bitcoin price and what it will be some day is a regularly contested subject. Pundits pronounce the asset dead and claim its ready to go to zero. Others, even the likes of billionaire venture capitalist Tim Draper believe it’ll be worth in the hundreds of thousands.

If Bitcoin follows the same exact trajectory as the last bull market, it is on track for a top at around $325K, top crypto experts have claimed.

However, each peak has brought investors diminishing returns, so it is reasonable to expect that peak to be lower than the last in terms of ROI.

But could an extremely simple mathematical pattern named after a mathematician born in 1170 perfectly predict each Bitcoin top? If it is possible, the formula points to the next peak at $270K according to a chart shared by a leading cryptocurrency analyst.

The cryptocurrency has been peaking at each Fibonacci extension ending in “.272.” Fibonacci retracement and extensions are ratios based on Fibonacci sequence. The next one above is the 4.272 extension, residing at roughly $270K.

bitcoin btcusd fibonacci

Everything about Bitcoin is steeped in mathematics, so it shouldn’t be shocking that math itself is the key to predicting the crypto asset’s peaks.

The remaining piece of the equation is when this peak occurs. The “when” is argued in the crypto market nearly as much as how much Bitcoin price will ultimately reach.

Believers in the stock-to-flow model expect the cryptocurrency to rip any day now into a new bull market, potentially making that peak a lot sooner than anyone is ready for.

Naysayers in that model, expect a lengthening market cycle for Bitcoin – one where the halving doesn’t have quite the impact that experts expect.

It’s hard to argue with the stock-to-flow model, however, because again, it is based on math. Math is one of the most powerful forces in nature, governing space, time, and even the price of Bitcoin.

Featured image from Deposit Photos, Charts from TradingView

Source: icryptodesk.com

Author: admin


Crypto Car Trading Platform AutoCoinCars Shows Promising Signs of Growth

Crypto Car Trading Platform AutoCoinCars Shows Promising Signs of Growth

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Crypto Car Trading Platform AutoCoinCars Shows Promising Signs of Growth

Crypto Car Trading Platform AutoCoinCars Shows Promising Signs of Growth

NOTTINGHAM, United Kingdom, Oct. 09, 2020 (GLOBE NEWSWIRE) — The UK’s first and largest cryptocurrency automobile trader AutoCoinCars witnesses tremendous growth and expansion of its operation in 2020. The online forum witnessed a month-on-month growth of over 1000 percent despite lackluster economic activities in March. During the year, the online car trading forum has gotten more than 100 dealers on board that will enable buyers to purchase cars and pay for it with cryptocurrencies. These dealers will join a long list of existing dealers that feature some of the UK’s biggest car sellers, including Redline Specialist Cars, GVE London, Benz Bavarian, etc.  

The growing number of crypto owners in the UK

The number of cryptocurrency owners in the United Kingdom is growing. In June 2020, the Financial Conduct Authority (FCA) in the UK reported that approximately 1.9 million adults own cryptocurrencies.

AutoCoinCars aims to provide a reliable and swift platform to cryptocurrency owners to buy and sell their cars. The forum connects the buyers with the dealers who accept cryptocurrency. The swift and easy transaction of cryptocurrency means that the buyers don’t have to exchange them for fiat money.

Other than the growing number of crypto owners, one reason for the adoption of cryptocurrency in automobile trade is ‘security.’

Mustansar Iqbal, founder, and chief executive of AutoCoinCars, says that people are concerned about counterfeit transactions when using traditional payment methods. However, the use of cryptocurrency guarantees that all transactions are safe and secure since it is a digital payment method.

Cryptocurrency: A way forward

Luke Willmott, commercial director at AutoCoinCars, believes this growth is a sign of how things will change in the UK car sales industry in the future.

He also added that the company is confident of growing further and expanding its client base throughout the remainder of the year.

Since its inception in 2019, AutoCoinCars has proven to be a game-changer as it has been offering crypto solutions to car dealers in the UK. During its first year of operations, its services were sought after by nearly 50% of the country’s car dealers.

The company aims to expand its operations to cater to the needs of a growing number of cryptocurrency owners in the country and worldwide. With the integration of cryptocurrency in the automobile trade, the process of buying cars will become more secure, swift, and hassle-free.

Mr. Mustansar Iqbal is hopeful that cryptocurrency assets will remain a reliable choice for the public, and therefore, they can be classed as a viable choice for the future too.

Media contact
Company: AutoCoinCars
Contact: Luke Willmott, Commercial Director
Email: [email protected]
Website: https://www.AutoCoinCars.com/
Telephone: +44 (0) 115 671 5007
Address: Lancaster House, 10 Sherwood Rise, New Basford, Nottingham NG7 6JE

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f938ae13-2420-488a-8ba8-3e7e7c8ac4e4

(JPEG – 374 x 800)

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Source: www.globenewswire.com

Author: AutoCoinCars


CBN directs banks to confirm Swift transactions within 2 business days

CBN directs banks to confirm Swift transactions within 2 business days

Sequel to rising complaints by a number of financial institution prospects over alleged excessive fees and exploitation by Nigerian banks, the Nigerian senate has taken a realistic step in the direction of addressing the problem.

In response to the perceived want of addressing the highlighted challenges able to limiting the search to attain a financially inclusive economic system, Senator Patrick Moro moved a movement to handle these complaints. In response, the Senate urged its Committee on Banking, Insurance coverage, and Different Monetary Establishments to analyze the alleged illicit and extra financial institution fees by business banks working within the nation.

READ ALSO: CBN knocks airline and shipping firms over non-compliance with form NXP

Discover Information on the Nairametrics Research Website

As well as, it also asked the CBN to handle the complaints and downwardly assessment the costs on all financial institution accounts, as a panacea to the alleged exploitations.

GTBank 728 x 90

Senator Moro emphasised that the alleged exploitation ranges from; fixed fees and deductions from financial institution SMS fees, intra-bank switch fees within the sum of N52.59, ATM card renewal fees, and account upkeep fees within the sum of N93.13.

Commenting on the motive behind his movement, Moro remarked that, “These fees being deducted from prospects’ accounts by banks, have brought on an uproar inside the public as Nigerians have expressed their dissatisfaction and displeasure over such extreme deductions, which they really feel are fraudulent and focused at additional impoverishing Nigerians.”

GTBank 728 x 90

What cryptocurrency will become the main one in a year?
BitcoinEthereum

He recalled that in April 2017, the CBN revised the cardboard upkeep fees within the new information launched, from N100 yearly to N50 month-to-month.

READ: Poor service: 19,977 subscribers lodge complaints against Telcos

He continued, “Thus, financial institution prospects in Nigeria pays not lower than N1.46bn to banks as card upkeep fees each month, totaling about N17.54bn in a 12 months.

“Nigerian banks in a bid to additional extort prospects have set most of their ATM machines to dispense money beneath the utmost sum of N40,000 that ATMs are programmed to dispense per transaction.

Jaiz bank ads

“The shoppers utilizing the ATMs do not need a selection than to withdraw a lot lesser quantities per transaction; thereby, incurring the extra price of N65 per transaction after utilizing one other financial institution’s ATM machines past 3 times.”

Fidelity ads

Recall that Nairametrics in an earlier article disclosed that CBN had recovered on behalf of shoppers over N60 billion extreme fees imposed on them by defaulting banks.

Source: gentlecrypto.com


CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, RIPPLE News

CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, RIPPLE News

CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, RIPPLE News
Bitcoin Touches $ 10,900 As Cryptocurrency Market Cap Gains $ 12 Billion
$ 12 billion cryptocurrency market capitalization gain as bitcoin jumps to $ 10,900.

Following the announcement that Square had acquired $ 50 million in bitcoin, the asset reacted with a significant price jump to $ 10,900. The market capitalization of the cryptocurrency has increased by $ 12 billion.

US Department of Justice publishes cryptocurrency ‘legal framework’
U.S. Department of Justice publishes Cyber ​​Digital Task Force report

US Attorney General William Barr announced the opening of the report, stating that the goal is to ensure that cryptocurrency “does not endanger our public safety or our national security,” “vital to America and its allies.”

Syscoin and CorionX Partner to Promote Global Stablecoin and DeFi Implementation
Syscoin and CorionX have entered into a partnership.

CorionX, a platform designed to stimulate and facilitate the global adoption of stablecoins and decentralized financial platforms, announced that it will partner with Syscoin to help overcome the two biggest barriers to entry into DeFi – awareness and cost.

Lightning network vulnerability found, update immediately
The Lightning vulnerability became known on October 9.

Lightning network node operators using LND versions prior to the October 1 update to version 0.11 are strongly encouraged to upgrade as soon as a vulnerability affecting LND versions 0.10 and below is discovered.

Lightning Network Vulnerability

Ripple Now Offers XRP Loans To RippleNet Clients
Ripple is officially in the lending business by launching an XRP-based service for RippleNet clients.

San Francisco-based blockchain company Ripple has launched a lending offer called Line of Credit, which allows its clients using an on-demand liquidity solution to borrow XRP in order to quickly access capital.
The new service, which has already been tested by members of the RippleNet network, is currently in beta testing.

Honda and GM Promote Blockchain-Based Electric Vehicle Charging Network Standard
Honda and General Motors have launched a standard to enable decentralized charging networks for electric vehicles using blockchain.

The Mobility Open Blockchain Initiative’s Electric Vehicle Integration Working Group has developed and launched a global standard for the automotive industry integrating blockchain into a decentralized vehicle charging system.

Solana launches Wormhole, Ethereum’s cross-chain bridge.
Solana announces the launch of its Wormhole bridging

Solana has announced the launch of its Wormhole bridge, which connects ETH and ERC-20 tokens to the SPL tokens of the Solana blockchain. The wormhole bridge will allow DeFi developers trustlessly to move tokenized assets across blockchains, taking advantage of Solana’s “speed and cost” advantages, which the firm claims were lower than Ethereum.
Solana Launches Wormhole

Jack Dorsey Square Buys $ 50 Million Bitcoins
Square has announced a $ 50 million purchase of Bitcoin.

Financial services company Square announced that it has acquired $ 50 million worth of bitcoin.
The company, led by Twitter’s Jack Dorsey, says it believes cryptocurrencies are a tool to “empower economic opportunities and provide an opportunity to participate in the global monetary system, which is in line with the company’s goals.

Messari adds DigitalBits and branded currencies to its registry
Messari announced today the addition of DigitalBits to Messari’s roster.

As the ecosystem evolves, DigitalBits Messari and the XDB Foundation may explore the possibility of creating a new ledger to host branded currencies tokenized on DigitalBits. This registry will address the challenges consumers face in determining the legitimacy of branded currencies and their respective organizations.

Billionaire Investor Tim Draper Funds Indian Cryptocurrency Exchange Unocoin
Bitcoin bull and billionaire venture capitalist Tim Draper has invested in Indian cryptocurrency exchange Unocoin.

Bitcoin enthusiast Tim Draper and his venture capital firm Draper Associates have helped Indian cryptocurrency exchange Unocoin secure a $ 5 million investment, according to recent reports. Venture capital firm XBTO ventures focused on cryptocurrency funding has also joined the Series A funding round.

Ethereum Fees Higher Than Bitcoin For A Record Two Months In A Row
Ethereum Receives More Fees than Bitcoin in Record Streak

Ethereum transaction fees have exceeded Bitcoin network fees for two consecutive months.
Ethereum fees soared to new all-time highs in August as the decentralized finance bubble began to climb into full swing. The smart contracts that underlie the DeFi protocols typically require multiple Ethereum transactions to be executed, exacerbating network congestion.

Source: cryptotimeless.com

Author: by admin


Crypto Calculated: How Ancient Math Predicts Bitcoin’s Next Top At $270K


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