Bitcoin and Altcoins Struggling To Hold The Ground

  • Bitcoin price tumbled and traded to a new monthly low below USD 6,200.
  • Most altcoins followed bitcoin and are currently under heavy selling pressure.
  • The market is struggling to recover and it remains at risk of more declines.

    Bitcoin buyers fought to prevent a downside break below a key support at USD 6,250. However, sellers had the upper hand, resulting in a sharp decline below USD 6,250. Ethereum is also struggling to hold gains, but it is still above yesterday’s low. The current market sentiment indicates an increased bearish bias, and if bitcoin fails to stay above USD 6,000, there could be heavy losses during the coming sessions.

    Bitcoin price failed to stay above the USD 6,250 and USD 6,200 support levels, which is a strong bearish sign. BTC/USD is currently (UTC 8:30 AM) trading above the USD 6,120 support, but it is facing heavy selling pressure.
    If the price declines further below USD 6,120, there is a risk of a crucial break below USD 6,000. On the upside, an initial resistance is at USD 6,300, above which the price may revisit the USD 6,400 pivot level.

    Ethereum price struggled to move above the USD 445 resistance and is currently down around 1%. However, ETH/USD is still trading above yesterday’s low, which is a short-term positive sign.
    Having said that, if the price fails to move above the USD 445 resistance, it could break the USD 425 support to trade towards USD 400 in the near term.

    Bitcoin Cash and Ripple
    Bitcoin cash price extended its slide and is currently trading near the USD 675 level. An initial support sits at USD 660, followed by USD 650. Below this last, BCH/USD may perhaps move towards the USD 620 level. On the upside, resistances are at USD 690, USD 700 and USD 720.
    Ripple price is in a bearish zone below USD 0.45 and it seems like XRP/USD may even break the USD 0.43 level to test the USD 0.42 support. Resistances are sitting near USD 0.445 and USD 0.450.

    Other Altcoins Market Today
    Almost all altcoins are trading in the red zone with losses between 3-12%. The worst performer so far is bitcoin diamond, trading below the USD 2.00 support. Other cryptocurrencies like XIN, VERI, MCO, pundi X, NAS and POWR posted declines more than 8%.
    Overall, bitcoin and altcoins are struggling to hold the ground. To recover, bitcoin price must move back above the USD 6,300 and USD 6,400 resistance levels.

    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!

    Author: Aayush Jindal
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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!

Author: Edu Gachaja
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Cardano Price Analysis – April 5

  • The medium-term is bullish
  • The short-term is bearish

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ADA Meduim-term trend: Bullish

Supply zones: $0.180, $0.200, $0.220
Demand zones: $0.140, $0.130, $0.120
Cardano is still in the uptrend. Stochastic oscillator is over the 20 level. We have the formation of bullish railroad track at the demand zone. The demand zone at $0.140 is respected and this created a double bottom. Bullish momentum is seen as more bullish candles are formed. In the medium term price could possibly get to $0.150.Traders should watch this area as it will give more momentum to the upside that we currently witnessed.

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ADAUSD Short-term Trend: Bearish

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The downtrend is valid for Cardano in the short term. Stochastic oscillator is in the overbought region with the signals below the 50 level. Price is forming higher low and lower high. Upward price movement rejection in demand zone at $0.150. Formation of bearish engulfing candle confirm the downward momentum.

Here at DollarDestruction, we endeavour to bring 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 is provided by the source referenced. DollarDestruction does not endorse and is not responsible for or reliable for any content, comment, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Author- Azeez Mustapha



5 Altcoins with Major Events the week of April 1, 2018 (Gains Likely to Beat Bitcoin Returns!)

This past week has seen Bitcoin and many altcoins fluctuate dramatically. These significant fluctuations can be profited off of by trading or increasing one’s position in the underlying crypto. The upcoming week has major events for five cryptocurrencies: PRL, UKG, EOS, PKB, and BRD.

The Market Conditions

In December of 2017, Bitcoin was pushing the $20,000 mark with many experts predicting a run much higher. The bull market turned bear and BTC is currently priced at approximately $7,000 per coin. This sixty plus percent retraction has led altcoins to retract even further. Bitcoin’s dominance in the past three months has increased as the total market cap of all cryptos has decreased. BTC now makes up a greater share (percentage wise) of the total crypto markets than it did in December, when its price was 200% higher.
Markets in turmoil usually scare investors away. However, the savvy investor is keenly aware of the opportunities markets in turmoil provide. There are buying opportunities galore with many altcoins having major events on a weekly basis. Rotating one’s holding from one altcoin to another week to week is a timely task but if accomplished in a sophisticated manner can lead to substantial returns outpacing Bitcoin and the rest of the crypto markets.
This week has 5 altcoins with major events: PRL, UKG, EOS, PKB, and BRD.

PRL – Oyster Protocol (SHL Airdrop, Exchange Support)

The SHL airdrop to PRL holders is finally a week away! On April 6, 2018, each holder of PRL will receive a 1:1 ratio of SHL for each PRL crypto held. Last week no exchanges had announced support for the airdrop. However, this week, the exchange PRL is predominantly traded on expressed their support for the airdrop. Now holders of PRL in their wallets or on the main PRL exchange can easily attain the SHL tokens.

PRL is planning to revolutionize the way web hosts earn an income. Instead of advertising revenue making up the majority of income for web hosts; PRL intends to replace ad revenue. Web hosts will soon be able to input a line of code into their websites that allow for no advertisements but still provide revenue based on total views/visitors. How is this completed? Well, the visitor to the website is unaware but a miniscule amount of their spare computing power is used to confirm transactions on the PRL network, rewarding the webhost in PRL tokens.

The amount of revenue attained from removing advertisers is expected to surpass the amount received from running advertisements. PRL is a great crypto without having to airdrop SHL, but SHL adds any entirely new degree of value in the form of an airdrop. SHL intends to decentralize the internet and if it comes even close to its ambitions should increase exponentially in value.

As airdrops approach the underlying crypto usually increases until exchange support is announced or declined. If a major exchange supports the airdrop the value of the underlying crypto tends to increase until the date of the airdrop. If an exchange declines support for the airdrop the crypto generally retracts significantly as individuals have to decide to move the crypto to a desktop/application based wallet or to sell at the current price. PRL received support for their SHL token airdrop on the main exchange PRL is traded.

This week should be a very positive week for PRL. Following the airdrop, there should be a significant correction in the price of PRL as many are currently holding for the SHL token.

UKG – Unikoin Gold (Esports Live Betting, Spectator Betting)

Unikoin Gold (UKG) is an ERC-20 token that has been incorporated into the Unikrn platform. The Unikrn platform specializes in licensed, legal betting on eSports tournaments and matches. UKG provides a reward and incentivization structure for teams, players, and the participants of eSports. One of the biggest backers of the Unikrn project is the infamous Mark Cuban, billionaire, investor, Dallas Mavericks owner, and television personality. With investors such as Mark Cuban and a major upcoming week UKG should see a strong rally in the short term.

UKG is fairly useless without its Esports live betting and spectator betting platforms. Well, these platforms allegedly go live this week, on April 6, 2018. If UKG achieves this deadline the price of UKG will respond accordingly in a positive manner. Similarly, if UKG misses this deadline the public will lose faith regardless of the importance of Mark Cuban. What UKG is “supposed” to be, a major aspect of their roadmap, and the backbone of the platform is supposed to go live in less than a week. The ability to access spectator and Esports betting is what gives UKG utility. Utility adds value more than anything else in the crypto space.

If UKG is able to implement spectator and Esports live betting this week UKG should see a nice boost in sentiment regarding the coin, and the underlying value of UKG.

EOS – EOS (Dawn 3.0 Release)

EOS is a similar cryptocurrency to Ethereum (ETH) but excels in areas ETH fails. EOS specializes in scalability, an area where ETH suffers greatly. However, ETH has attained the most important thing of all: market penetration. The overwhelming majority of ICOs from the past year were ETH based on the ERC-20 platform. This sheer quantity led to many scaling problems for ETH and this is specifically where EOS excels.

For those that are not technology advanced understanding what Dawn 3.0 is will be fairly difficult. To summarize, Dawn 3.0 is finally stable enough to release as an Alpha and will soon become the GitHub master branch for EOS. This substantial development for EOS ensures its relevancy in the future as long as ICOs continued to be launched.

EOS is on the cusp of being fully implemented and functioning. Once these benchmarks in their roadmap are met, EOS will have an inherent advantage when compared to other crypto’s that specialize in ICOs. It is expected by many crypto enthusiasts that EOS is the only capable platform able to handle full-scale commercial decentralized applications. Once this is achieved developers and investors will flock to the EOS platform for its advantages over other ICO platforms. Dawn 3.0 is the beginning of being able to understand what these advances truly include.

BRD – Bread (iOS and Android Updates)

The BRD token was sold during an ICO to raise money for the Bread App (a great mobile wallet for iOS and Android). It seems curious but currently, the Bread App only can buy, sell, and transfer Bitcoin (BTC). The Bread application currently does not have the ability to hold the BRD token. This will obviously change in the short term with April 7, 2018, being the targeted date. The plan according to BRD is to update the iOS and Android applications to support ETH, ERC-20 tokens, and Bitcoin Cash (BCC). BRD currently has no utility and cannot even be held in the Bread application.

This week should be the last week the Bread application cannot hold BRD tokens. By incorporating BRD, ETH, ERC-20 tokens, BTC, and BCC all in one mobile wallet many individuals may begin using Bread for its overwhelming benefits. Once BRD can be held on the Bread application the plan is to allow BRD to be used to “unlock” special features within the app. If a wallet user has 10,000 BRD for example, they may be able to purchase BTC for a 1% fee instead of the industry standard of over 4%. The more BRD you hold in your wallet, the more benefits the user will receive for possessing them.

BRD’s token is about to be given significant utility by being able to provide the holder special benefits within the Bread application. This system creates an environment where holders of BRD are not selling but continuing to acquire as their will be benefits based on quantity held. By decreasing supply on the open market while increasing utility of BRD, the price should correspondingly increase.

PKB – ParkByte Delisting (Bittrex, SHORT)

Not all news is “good” in crypto. PKB is being delisted from Bittrex on April 6, 2018. PKB was unable to provide all the documentation Bittrex requested in the 7-day time frame they were given. Unfortunately for PKB holders, this resulted in their delisting by Bittrex. Other cryptos like MTL have rebounded following their delisting but it seems PKB may fall into the majority category and fade into oblivion unless they can create positive sentiment very quickly. Being delisted from Bittrex generally is a “nail in the coffin” unless significant changes, public outreach, and a strong team remain.

PKB has a solid team but with a market cap of under $500,000, it seems unlikely they can revive their project following a Bittrex delisting. However, if they are able to this very small market cap crypto that can still be purchased on Bittrex will skyrocket in value. Of the coins on this list this is the only one that is reasonably expected to continue fading into oblivion. There is no real ability to short this crypto which would be the recommendation but if you are feeling risky do the opposite of what the public does! This is crypto, anything can happen.

If PKB can get themselves relisted or provide project updates that change market sentiment, expect this very small market cap crypto to increase dramatically in value. With the current negative news regarding a delisting, this is a very risky coin to hold but provides more upside than any on this list.

Every Week Has Great Opportunities, Finding Them Is Not Always Easy

This week has four coins with great upcoming news and one with very negative news. This is a very exciting time for crypto as a whole as many projects started six months ago are finally coming to fruition this week. With such important events in the upcoming week it is important to stay diversified while keeping an eye on five coins for the upcoming week. These five coins should fluctuate dramatically depending on the developments over the next week.

The cryptocurrencies to focus on for the week of March 1, 2018, include PRL, PKB, UKG, BRD, and EOS.

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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