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Market Analysis of February 28, 2020

The marketcap has been moving down (-1.27%) since yesterday. The total capitalization is 248 011 319 782 USD.

Bitcoin totals 159 131 695 435 144 USD of capitalization for a dominance of 64.20%. Ethereum’s marketcap is 14 629 435 144 USD, followed by Ripple with 10 286 424 806 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed higher and is currently trading around $8648 after testing the $8900 level.

The daily technical situation is negative, with no sign of bullish recovery and the rest of the day’s trading on a 4 hour time horizon, with WaveTrends just crossed lower.

What to do about it?

The Bitcoin is below its Monthly Open and its evolution is uncertain at the moment. If the $8500 doesn’t hold, we can hope to see the $7800 back.

  • The supports of the day are at 8500$ — 8100$
  • The resistances of the day are at 8950$ — 9100$

Ethereum Analysis

ETH closed higher with a doji indicating the indecision of the market and is currently trading around $219.75.

The daily technical situation is negative with no sign of recovery as well and the rest in a reduced time horizon.

What to do?

We are at a critical level and it is important to see if the support of the 217s holds before positioning ourselves.

  • The supports of the day are at 217$ — 179.8$
  • The resistances of the day are at 250$ — 276$

Conclusion

The daily technical situation is negative for ETH and BTC. 

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Market Analysis of February 27, 2020

The marketcap has been moving down (-3.64%) since yesterday. The total capitalization is 251 210 716 345 USD.

Bitcoin totals 160 756 425 120 USD of capitalization for a dominance of 64.00%. Ethereum’s marketcap is 25 213 009 712 USD, followed by Ripple with 10 404 645 229 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed down (-5.76%) and is evolving around $8800 as announced in the previous analysis.

The daily technical situation is still negative and still no sign of bullish recovery. The technical situation is becoming rather positive with the WaveTrends which has just crossed higher.

What to do about it?

We could have a rebound back to the old support of $9300, but a test of $8500 is also possible. As usual, be prepared for several scenarios.

  • The supports of the day are at 8700$ — 8500$
  • The resistances of the day are at 9100$ — 9300$

Ethereum Analysis

ETH closed lower (-9.19%) at around $224.

The daily technical situation is negative, but as for the BTC, the technical situation becomes rather positive over a 4 hour time horizon with the WaveTrends which has just crossed on the upside.

What to do?

ETH seems to be bouncing back to the $217 level, a support or resistance test would be useful before taking position.

  • The supports of the day are at 217$ — 179.8$
  • The resistances of the day are at 250$ — 276$

Conclusion

The daily technical situation is negative for ETH and BTC.

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DeFi, aka Decentralized Finance. Part 1

What is DeFi?

Decentralized Finance (DeFi) is the movement that leverages decentralized networks to transform old financial products into trustless and transparent protocols that run without intermediaries.
Crypto’s mission is to bring in payments generally open and accessible to anybody, regardless of their place of residence.
The Decentralized Finance (DeFi) development makes that mission one step further. Envision a worldwide, open alternative in contrast to each money related service you use today — reserve funds, credits, savings, loans, money exchange, trading, insurance (and that’s only the tip of the iceberg) — available to anybody on the planet with a cell phone and online connection.
That is currently conceivable on blockchains with smart contracts implementation, like Ethereum. “Smart contracts” are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the contracts contained therein exist across a distributed, decentralized blockchain network. The code controls the execution, and transactions are trackable and irreversible. These brilliant agreements empower developers to create more refined features than basically sending and getting cryptocurrencies. These projects are what we presently call decentralized applications or dapps.
You can think about a dapp as an application that is based on decentralization, instead of being created and monitored by a solitary, unified individual, entity, or organization.
While a portion of these ideas may sound too advanced – like loans haggled straightforwardly between two outsiders in various locations of the world, without a bank in the center – a considerable amount of these dapps are as of now live today. There are DeFi dapps that permit you to make stablecoins (digital money whose worth is pegged to the US dollar), loan out cash and acquire interests on your crypto, apply for a new line of credit, trade one asset for another, go long or short on assets, and execute computerized advanced speculation procedures.

What makes these DeFi dapps different from their conventional bank or Wall Street equivalents?

  • An institution and its employees do not control these businesses — instead, the guidelines are written in code (or smart contract, as referenced previously). When the smart contract is sent to the blockchain, DeFi dapps can run themselves with almost no human mediation (although practically speaking, designers frequently keep up the dapps with overhauls or bug fixes).
  • The code is transparent on the blockchain for anybody to review. That manufactures another sort of trust with clients since anybody has the chance to comprehend the contract’s usefulness or discover bugs. All transactions are likewise open for anybody to see. While this may bring up protection issues, transactions are pseudonymous as a matter of course, for example, not attached straightforwardly to your genuine personality.
  • Dapps are designed to be global from the beginning — whether you’re in Monaco or Zambia, you have access to the same DeFi services and networks. Local regulations may apply, but, technically speaking, most DeFi apps are available to anyone online.
  • “Permissionless” to create, “permissionless” to participate — anyone can develop DeFi apps, and anyone can make use of them. Unlike finance today, there are no intermediaries or accounts with lengthy forms. Users interact directly with the smart contracts from their crypto wallets.
  • Flexible user experience — don’t like the interface to a specific dapp? No problem — you can use a third-party interface, or build your own. Smart contracts are like an open API that anyone can build an app for.
  • Interoperable — new DeFi applications can be built or composed by combining other DeFi products like Lego pieces — e.g., stablecoins, decentralized exchanges, and prediction markets can be connected to form entirely new products.

DeFi is currently one of the quickest developing divisions in crypto. Industry eyewitnesses measure footing with an exceptional new measurement — “ETH secured DeFi.” At the hour of composing, clients have saved over $600 million worth of crypto into these smart contracts.

What is the DeFi potential, though? Stay tuned for the second part coming soon.

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Market Analysis of February 26, 2020

The marketcap has been moving down (-5.63%) since yesterday. The total capitalization is 260 688 847 272 USD.

Bitcoin totals 167 917 132 967  USD of capitalization for a dominance of 64.4%. Ethereum’s marketcap is 26 298 136 767 USD, followed by Ripple with 10 575 901 862 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed lower for the 2nd consecutive day and is trading around $9135. It is in an interesting area and could rebound. We need to review the supports and resistances.

The daily technical situation is negative and stays negative over a time horizon of 4 hours.

What to do about it?

The BTC is in an interesting zone but seems to have difficulty bouncing back. You have to be prepared for several scenarios. We could go back up to $9300, or we could go down to $8800.

  • The supports of the day are at 9100$ — 8800$
  • The resistances of the day are at 9300$ — 9500$

Ethereum Analysis

ETH closed lower and is now trading around $236.6 and continues to fall. The continuation triangle has broken down.

The daily technical situation is negative and remains quite negative over a 4 hour time horizon.

What can we do about it?

It’s too late to go short, but it would be interesting to wait for a test of $228 before taking a position.

  • The supports of the day are at 228$ — 179.8$
  • The resistances of the day are at 250$ — 276$

Conclusion

The daily technical situation is still negative for ETH and BTC.

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Market Analysis of February 25, 2020

The marketcap has been moving down (-2.19%) since yesterday. The total capitalization is 276 237 298 831 USD.

Bitcoin totals 174 818 984 044 USD of capitalization for a dominance of 63.3%. Ethereum’s marketcap is 28 560 296 215 USD, followed by Ripple with 11 659 034 882 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed lower following the rejection at the level of its previous Weekly Open and is trading around $9595. The $9500 support still seems to be holding, so supports and resistances remain unchanged.

The daily technical situation remains unchanged and is still negative. It remains negative under a time horizon of 4 hours.

What to do about it?

Following the rebound on the 9500$ support, we can expect a test of the new Weekly Open at around 9966$, if it confirms its role of resistance, a short could be launched.

  • The supports of the day are at 9500$ — 9300$
  • The resistances of the day are at 10000$ — 10500$

Ethereum Analysis

ETH closed lower and follows the trend of the BTC, trading around $259. One can notice the formation of a continuation triangle.

The daily technical situation is negative and the rest of the day is under a 4 hour time horizon.

What can be done?

We can hope for a return on the resistance of the triangle and see if it still holds.

  • The supports of the day are at 250$ — 228$
  • The resistances of the day are at 288$ — 321$

Conclusion

The daily technical situation is still negative for ETH and BTC.

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How Bitcoin works, part 4

In the previous part, you learned what Bitcoin hashes are. Now, let’s move to the last aspects.

Bitcoin Transactions

For most people taking part in the Bitcoin system, the intricate details of the blockchain, hash rates and mining are not especially pertinent. Outside of the mining network, Bitcoin proprietors for the most part buy their digital currency supply through a crypto exchange. These are online platforms which encourage trading of Bitcoin and, regularly, other cryptos called altcoins.
Crypto exchanges unite participants from around the globe to purchase and sell digital currencies. These exchanges have been both progressively famous (as Bitcoin’s fame itself has developed as of late) but they also have to face administrative, lawful and security challenges. With governments around the globe seeing cryptos in different manners the guidelines overseeing the purchasing and selling of cryptos are mind boggling and continually evolving. However, it is possible that for Bitcoin traders online theft and other hacking incidents are more significant than the danger of ever-changing administrative regulations. While the blockchain itself has to a great extent been secure since its commencement, singular exchanges are not really the equivalent. Numerous burglaries have focused on prominent digital exchanges, customarily bringing about the loss of a huge number of dollars worth of tokens. The most well known trade robbery is likely Mt. Gox, which overwhelmed the Bitcoin exchange space up through 2014. Right off the bat in that year, the stage reported the likely burglary of approximately 850,000 BTC worth near $450 million at that point. Mt. Gox declared financial insolvency and covered its entryways; right up ’til the present time, most of that stolen Bitcoins (which would now merit an aggregate of about $8 billion) has not been recouped.

Keys and Wallets

Hence, it’s reasonable that Bitcoin dealers and proprietors will need to take any conceivable safety efforts to ensure their property. To do as such, they use keys and wallets.
Bitcoin proprietorship basically comes down to two numbers, a public key and a private key. Perceive it as a username (public key) and a password (private key). A hash of the public key called an address on the blockchain. Utilizing the hash gives an additional layer of security.
To get bitcoin, it’s sufficient for the sender to know your address. The public key is created from the private key, which you have to send bitcoin to another address. The blockchain makes it simple to get crypto yet requires verification to send it.
To get to bitcoin, you utilize a wallet, which is a lot of keys. These can take various structures, from outside web applications offering protection and credit cards, to QR codes imprinted on bits of paper. The most significant differentiation is between “hot” wallets, which are online in the web and in this manner powerless against hacking, and “cold” wallets, which are kept offline. In the Mt. Gox case above, it is thought that the majority of the BTC taken were taken from a hot wallet. In any case, numerous clients endow their private keys to digital currency exchanges, which basically is an assumption that those exchanges will have more grounded safeguard against the chance of robbery than one’s own PC.
Therefore, remember this line: “If you don’t have control over your Bitcoin/don’t have your private keys, it is not your Bitcoin anymore.”
And there you go, you have learned the basics of Bitcoin and Blockchain. Now, it would be good that you used this newly-acquired expertise to your advantage. 
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Market Analysis of February 24, 2020

The marketcap has been moving down (-1.73%) since yesterday. The total capitalization is 282 418 074 941 USD.

Bitcoin totals 177 398 784 332 USD of capitalization for a dominance of 62.9%. Ethereum’s marketcap is 29 256 552 621 USD, followed by Ripple with 11 935 127 648 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed higher than its previous Weekly Open and suffered an immediate rejection, creating a new lower high. It is currently trading around $9730.

The daily technical situation is negative and remains negative over a 4 hour time horizon.

What to do about it?

The situation is negative and there are no signs of bullish recovery at this time. The BTC is in a dangerous zone, so patience is what we still need today.

  • The supports of the day are at 9500$ — 9300$
  • The resistances of the day are at 10000$ — 10500$

Ethereum Analysis

ETH closed higher at around $266.7, having experienced a similar rejection to BTC.

The daily technical situation is negative and remains negative in 1h and 4h.

What can be done?

As for the BTC, the situation is negative but ETH is in a zone too dangerous to trade.

  • The supports of the day are at 250$ — 228$
  • The resistances of the day are at 288$ — 321$

Conclusion

The daily technical situation is negative for ETH and BTC.

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Market Analysis of February 21, 2020

The marketcap has been moving up (+0.09) since yesterday. The total capitalization is 279 442 771 245 USD.

Bitcoin totals 175 870 318 906 USD of capitalization for a dominance of 63.00%. Ethereum’s marketcap is 28 374 886 136 USD, followed by Ripple with 11 891 971 095 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed higher and is trading around $96777, still in an uncertain area.

The daily technical situation is negative but becomes more or less positive over a 4 hour time horizon.

What to do about it?

Be patient and wait for a return to support or resistance before positioning yourself.

  • The supports of the day are at 9500$ — 9300$
  • The resistances of the day are at 10000$ — 10500$

Ethereum Analysis

ETH closed lower than the BTC and is trading around $261.

The daily technical situation is negative but is becoming rather positive.

What can we do about it?

Like the BTC, ETH is in an uncertain zone and the prudent trader will prefer to wait for a return to support or resistance before positioning.

  • The supports of the day are at 250$ — 228$
  • The resistances of the day are at 288$ — 321$

Conclusion

The daily technical situation is negative for ETH and BTC.

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How Bitcoin works, part 3

In the second part, you learned what Bitcoin mining is. Now, let’s move to the hashes.

Hashes

When Ghash.io, a mining pool, reached 51% of the network’s computing power in 2014, it voluntarily promised to not exceed 39.99% of the Bitcoin hash rate in order to maintain confidence in the cryptocurrency’s value. Other actors, such as governments, might find the idea of such an attack interesting, though.
We will start with an increasingly technical portrayal of how mining functions. The system of miners, who are dissipated over the globe and not bound to one another by proximity or family ties, gets the most recent clump of transaction information. They run the information through a cryptographic algorithm that produces a “hash,” a series of numbers and letters that check the data’s legitimacy, however, it doesn’t uncover the data itself. (This perfect vision of decentralized mining is not valid anymore, with modern scale mining farms and ground-breaking mining pools framing an oligopoly.)
Mining is rigorous and exhaustive, requiring enormous, costly equipment and a ton of power to control them. Furthermore, it’s serious. It’s impossible to tell what nonce will work, so the objective is to drive through them as fast as could be achieved.
Miners figured out that they could improve their odds by consolidating into mining pools, sharing computing power and dividing the prizes up among themselves. Even if numerous miners split these mining rewards, there is an as yet abundant motivator to seek after them. Each time another block is mined, the fruitful miner gets a lot of recently made bitcoin. From the start, it was 50, yet then it split to 25, and now it is 12.5 (about $119,000 in October 2019). It will be halved again in May 2020.
The mining reward will keep on splitting every 210,000 blocks, or about at regular intervals until it hits zero. By then, each of the 21 million bitcoins will have been mined, and miners will rely entirely upon transaction fees to keep up the system. When Bitcoin was propelled, it was arranged that the absolute supply of the cryptocurrency would be 21 million tokens.
The way that miners have composed themselves into pools stresses a few. In the event that a pool surpasses half of the system’s mining power, its individuals might spend coins, invert the transactions, and spend them once more. They could likewise hinder others’ transactions. Basically, this pool of miners would have the ability to overpower the appropriated idea of the system, confirming deceitful transactions by the righteousness of the dominant part power it would hold.
That could spell doom on Bitcoin, however even a purported “51% attack” would most likely not empower the terrible on-screen characters to invert old transactions, in light of the fact that the proof of work necessity makes that procedure so work concentrated. To return and change the blockchain, a pool would need to control such a vastly larger part of the system that it would most likely be futile. When you control the entire cash, who is there to trade with?
A 51% assault is a monetarily self-destructive suggestion from the miners’ point of view. However, different parties, for example, governments, may consider the possibility of such an assault intriguing.
We will stop here for now. We will discuss transactions, keys, and wallets in the last part coming soon.
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Market Analysis of February 19, 2020

The marketcap has been moving up (+3.33%) since yesterday. The total capitalization is 295 735 115 274 USD.

Bitcoin totals 184 527 927 951 USD of capitalization for a dominance of 62.40%. Ethereum’s marketcap is 30 759 480 716 USD, followed by Ripple with 12 901 728 394 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed higher, passing above its Weekly Open, trading around $10,140.

The daily technical situation is negative but is still positive over a 4 hour time horizon.

What to do about it?

Indecision is still present in the market, but the BTC seems to be holding above 10,000. A test of the Weekly Open could interest us as to the direction to take to position ourselves.

  • The supports of the day are at 10000$ — 9650$
  • The resistances of the day are at 10500$ — 11000$

Ethereum Analysis

ETH also closed higher despite a daily technical situation and is trading around $280.

The daily technical situation is rather negative with a visible bearish divergence on the ITC. On a short time horizon the situation is positive but the WaveTrends is close to a bearish cross.

What to do?

ETH is still very volatile and the market is still uncertain. A test of supports and resistances is therefore necessary before positioning.

  • The supports of the day are at 260$ — 240$
  • The resistances of the day are at 288$ — 321$

Conclusion

The daily technical situation is negative for ETH and BTC and the market is uncertain.

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