Former Australian Cricket Captain Is Backing An ICO

Michael Clarke, a known and important former cricket captain, is now involved in controversy after backing an Australian Initial Coin Offering (ICO). This decision of backing this ICO has gathered a lot of attention and generated controversy among investors, according to Business Insider.

LIONBIT

This is not the first time that a celebrity endorses an Initial Coin Offering. Back in 2017, when ICOs expanded in the market, celebrities such as Floyd Mayweather or DJ Khaled were backing different projects around the world.

In the same way, Clarke supported Global Tech by tweeting about it, but the reception in the famous social media was not good enough. Indeed, John Hempton, founder and chief investment officer at Bronte Capital, linked the endorsement to Steve Smiths ball-tampering situation, that ended his captaincy in 2018.

After it, Hempton published a blog post (which has been now deleted) related to the situation about Bronte Capitals website. The post says that after promoting the ICO, his reputation was seriously damaged. Moreover, they pushed him to reconsider his decision of endorsing Global Tech.

After these comments, Clarke blocked him on Twitter and Hempton wrote back saying:

Hey, I got blocked by an ex Australian cricket captain for suggesting an ICO might be bad for his reputation.

Regulators from different countries noticed an increase number of endorsements from celebrities and other social media influencers. At the moment, it is not clear whether the Australian Securities and Investments Commission and the Australian Transaction Reports and Analysis Centre took action on what Clarke did.

TIP

In the past, one important regulatory agency, the U.S. Securities and Exchange Commission (SEC) released a warning in which they explain the risks of investing in celebrity-backed Initial Coin Offerings.

Investment decisions should not be based solely on an endorsement by a promoter or other individual. Celebrities who endorse an investment often do not have sufficient expertise to ensure that the investment is appropriate and in compliance with federal securities laws. COnduct research before making investments, including in ICOs.

In some cases, if the project is a fraud or Ponzi scheme, the celebrity backing the ICO could even face jail sentences or pay an expensive fine.


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Author: USETHEBITCOIN
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NEO Technical Analysis: (NEO/BTC) Lining Up For A Double Bottom Rebound

NEO

The ‘Chinese Ethereum’ platform, continues to stray outside of the top 10 cryptos by market capital, with a further 0.77% dip against its BTC pairing today.

The NEO token is now currently valued at $59 after 2 weeks of poor performance. This is one of the lowest prices we have seen the asset all year, with a total loss of -69% from it’s all-time high of $196 set back in early January this year.

But while this all seems like doom and gloom, there promising signals on the horizon that we could be about to see some life return to the alt-coin.

The Story Up Until Now

Over 3hr candles, we can see NEO broke bearish from it’s earlier achieved all-time high after completing a H&S pattern (yellow curved lines) at the start of Q1. From there we saw the asset continue to downtrend throughout March, until it eventually found the bottom along the 0.236 fib level at 0.0066BTC, and began to make a recovery.

During the bullish reversal, NEO oscillated mostly inside the channel between the 0.382 fib support and a strong resistance at the 0.5 fib level above.

For a brief moment, the alt-coin broke clear of the channel ceiling and retraced to $90 near the 0.618 fib level. Heavy selling pressure from exiting traders however, collapsed NEO’s advance towards $100 and quickly sent the asset tumbling back to $85.

Since then we’ve seen the asset continue to pass below the aforementioned Fibonacci levels, to a new support area around 0.007BTC (upper white line).

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The News Now

In the chart above we can see a potential bullish double bottom beginning to form in NEO’s price activity (circled areas), as the token’s value begins to trace back towards the same region it spring boarded from before.

For now, we just need NEO to pass below the 0.007BTC line, into the area between the two white lines, to confirm this reversing pattern. Looking at the exponential moving averages (EMAs) we can see that the 22EMA (yellow) is still falling below the 50EMA, which in turn is below the 200EMA (red). This confirms that for now, selling momentum is continuing to drive down NEO’s price closer toward our breakout zone.

We should see the token fall back on the 0.0066BTC support (around $54 at current BTC value) fairly quickly once it drops below 0.007BTC, as impatient short-term traders pull out of NEO into some of the better performing cryptocurrencies (for now), making gains in the market today.

I suspect we could see a very bullish response amp up too once Asian investors start to rally in support.

NEO Price Prediction

From the 0.236 fib level at 0.0066BTC, we should expect the first price target to retrace towards the 0.5 fib level at around 0.0091BTC (38.52% ROI).

Our second price target will likely be around the 0.011BTC area, which has been a strong resisting level over the course of NEO’s price history. A run up to this level will deliver a 66.67% ROI from the 0.0066BTC line.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author  Ollie Leech
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NEO (NEO) set for a Bullish run in 2018!

NEO (NEO) is one of the few altcoins that has so far been relatively flexible given the volatile nature of the cryptocurrency market; the coin has managed to stay in the top 10 digital currencies in market cap. NEO has had a cumulative return of over 26000% since the coin was developed in China over a year and a half ago. Investors have been bullish on the coin although its price had recently dropped by over half at the end of February 2018.
NEO has been on a steady recovery in the past month with its price struggling to hit the $60 mark again.

One of the main reasons that have made NEO a very popular coin is its strong base in China where crypto enthusiasts have ranked it the same level as Ethereum.
The diversity in NEO (NEO) infrastructure is one to be admired by any long term crypto investor; the altcoin is built with the same purpose as that of Ethereum. In the recent past enhancement of security by digitization of assets has seen the blockchain technology adopted by quite a number of big corporates and countries. The NEO network is powered by GAS coins that play a major role in supporting smart contracts to be deployed within the platform. Transactions per second is among the issues that Bitcoin is currently trying to resolve besides dominating the crypto markets, NEO is reliable when it comes to tps with over 10,000 transactions. This is enabled by the consensus method used in NEOs infrastructure; Byzantine Fault Tolerance Consensus.

NEO (NEO) is a potential cash cow if the cryptocurrency market is long-term even for investors looking to join the NEO community right now. This is due to the following reasons;

NEO’s price has been positively affected by its association with OnChain. Investors that have been bullish on this cryptocurrency believe that this is among the reasons NEOs volume change has been quite impressive with the coin at position 2 out of the 8 Mid Cap coins as of press date. OnChain’s business model and protocol aims at making blockchain more valuable by distinguishing the crypto and blockchain arena.

The diversity in the NEOs network offers a wider range of assets than most platforms; users globally can be able to exchange digital assets with NEO coins while Ethereum has mostly focused on exchange of cryptocurrencies only based on the ERC20 protocol. Investors looking for stability attributed to diversity in a coin’s blockchain platform would be delighted to know that NEO’s average monthly return is at a comfortable 106%.
Ease of use within the NEO network has been significant in the coin’s adoption. Users within the platform will find it easier to deploy smart contracts due to the multiple languages a developer can use in the network. NEO allows a wider scope of programming languages than peer coins like Ethereum; one can use basic languages like Java and interact with smart contracts and other users in the network efficiently.

The digital currency has had a good run when it comes to partnerships with over 15 significant financial intermediaries working together with NEO’s team. Red Pulse is one of the few examples that have believed in NEO’s infrastructure and it is expected the coin’s value will benefit from strategic partnerships in future.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Edu Gachaja
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Stellar (XLM) Keeps Gaining Prominence, Awaits Altcoin Season

The platform attracted the KIN token, and keeps positioning itself as an alternative to Ethereum.

Stellar (XLM) keeps establishing itself as one of the leading platform coins, and moving up in market prices as well. XLM is up more than 14% in the last day in the green, at $0.24, having quite a few steady days of recovery against Bitcoin.

While the Stellar platform is not openly competing with Ethereum, the system is seeing renewed interest and a potential to serve as an alternative to ICOs and other projects seeking an ecosystem for distributed apps.

The Stellar project competes with a promise for much faster transactions – an appealing proposition where it turns out on-chain transactions do not scale easily, and the speed of exchanges or distributed apps is still a factor for the commercial use of blockchain solutions.

But there is a severe criticism on how Stellar achieves this technological feat. The system uses anchors – issuers of credit within the Stellar ecosystem, which act like banks, and only issue a centralized balance. Of course, this is seen as contrary to the digital currency principle, where each asset is secured by cryptography and the system is trust less – there is no reliance on persons or entities to respect the balance, since it is automatically computed.

However, XLM remains among the speculative assets, and its relatively low price may be promising at this point, especially after the altcoin markets are going into a short-term recovery phase.

Additionally, the Stellar project has been rather silent on new developments, barring an upcoming address by the founder, Jed McCaleb.

At the moment, the XLM digital asset may enjoy the attention of Asian traders, but also the US-based community, through the availability on Binance and Poloniex. The growth of XLM has been relatively low compared to hotter booming assets, but in cases of a fast recovery, the price may reach new highs. So far, XLM has certainly gained positions and trading volumes compared to its position in December.


 

Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author Christine Masters

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