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ETHEREUM reversal on its way? or more blood to come?Hello everyone and welcome to yet another idea of mine, if we look at ETH over the past month you would olmost say it is dieying out But dont get fooled eth is still by far the number 2 in total value aswell as volume & transactions Now before we start with the analysis you will have to understand the reason why ETH is losing its value so much. To start of ICO's *Sec and other security instances are not happy with ico's and the amount of scam ico's they will there for try to solve this, the impact of this is in some sort of way negative news as a result of a continue sale off of ico tokens aswell as ETH. *The effects of an ending hype is also part of the prices dropping more can be found in this article about it www.coindesk.com ETH Issues Although the Ethereum blockchain is the second most popular in the cryptocurrency industry, it actually has a few issues regarding scalability. (Scalability refers to the number of transactions a blockchain can process per second.) Ethereum is only able to process 15 transactions per second. In the early days of the project this was not a problem, as not many people were using it. However, as Ethereum has got more popular, it has become the biggest issue the Ethereum blockchain faces. To give you an idea of how limited it is, the NEO blockchain (which can also process smart contracts) can reportedly process up to 10,000 transactions per second. Unless the Ethereum developers resolve their scalability issue, then organizations might consider using other blockchains to host their smart contracts and dApps instead of Ethereum. If this happens in the future of Ethereum, its price is likely to crash. (as shown how the past weeks been) So, as you can see, this issue is of paramount importance. ETH solutions *Casper* there are solutions to scaling like Proof-of-Stake (Casper) Although the Casper upgrade was first discussed in mid-2017, the team are yet to finish working on it. It is believed that it will be installed during 2018. *Plasma* The Plasma project was first announced by Vitalik Buterin in August 2017 and is being developed to solve Ethereum’s scalability problems. Essentially, Plasma is a protocol that will allow the Ethereum blockchain to remove the need to process unnecessary data. It will do so by creating a second layer on top of the main blockchain. It will still be able to process smart contracts, however it will only post them to the blockchain once the contract has been completed. This will significantly reduce the amount of computational power the blockchain needs to confirm transactions and it will also save lots of memory. The Plasma protocol will also speed up transaction times, which will allow the network to host dApps without slowing the system down. Plasma development is still in its very early days of production, so we are not yet sure when it will be installed on top of the Ethereum blockchain. *sharding* Just like in the case of the Plasma protocol, Sharding is also being developed to solve the issues of scalability. Before understanding what Sharding will do, let’s try and understand what the actual issue is. At the moment, every node that is connected to the Ethereum blockchain needs to verify every single transaction that goes through it. For example, if there are 4,000 transactions that need to be verified in the next block, then every node must verify all 4,000 transactions. Although this is really good for security, it also means that the network is only as quick as the individual nodes that are connected. to make the story short, doom thinkers this is not the end of ETH like any other blockchain it has its issues and will adopt over time. Techical analysis: mid term (2 months) So far we seen mostly red on the boards of ETH past weeks if not months with no real corrective move however i think ETH is finding a bottom or (temorary bottom) soon This is becuase ETH is finding some strong supports between 190 and 150 USD the long targets would depend on how long it takes to go up as we have descending resistance lines therefor changes daily, if it comes to fibbonaci we can find targets at 327, 423, and 498 USD i am bullish becuase of indicators and the upkoming update in oktober, we have yet to see what it brings to us, but the fact its trying to solve issues is in my opinion a bullish thing i hope you enjoyed the explaination & technical analyses, if so please make sure to follow me and give it a like as appreciation! will regulary update this idea along the way! thanks again!
BITFINEX:ETHUSD
by NGenetics
23
History of Bitcoin - Is it only the Beginning?October 2008 - The idea is born! Like most of the revolutions or innovations that we used to hear about through the history, everything is starting from an idea. In October 2008, what started as an idea has become a currency used by black markets and put in portfolios that some investors want to trade like stocks. January 2009 - The right currency, in the right time Many different theories and conspiracies about why Satoshi Nakamoto proposed the currency alternative. One of them most surprising notions is that it was a response to the global financial crisis in 2008. May 2010 - Creating Future A person uses bitcoins to order pizza three months after a marketplace was established for the currency. The pizza cost the buyer 10,000 bitcoins. July 2011 - Safety Concerns The cryptocurrencies are exposed as being just as unprotected as the paper kind when some of the bitcoin wallets were subject to hacking and theft. July 2012 - Risk Management of a Growing Trend The use of the currency grows, trading volumes have been increased but its largely relegated to some dark sides of the internet including black markets that deals with illegal goods and services. July 2013 - The Winklevoss Brothers The Winklevoss twins, Cameron and Tyler, both Olympic rowers nemeses of Mark Zuckerberg – at the time what appears to be one of the single largest portfolios of the digital money. September 2013 - Flipping a Coin on the Price of Bitcoins SecondMarket, that allows investors to buy shares of the most-traded private companies like Twitter, gaining investments for a fund that will hold only bitcoins. October 2013 - Silk Road Shut Down Ross Ulbricht, 29 years old who believed to be behind Silk Road marketplace, has been arrested by F.B.I on narcotics and money-laundering charges. November 2013 - The Regulators starts to see the value; Investors Hasten to Agree On November 18, The federal officials estimate at a Senate hearing that such cryptocurrency networks offer real benefits for the whole financial system even if they support new ways for money laundering and illegal activity. Year: 2014 - Adoption of payments giant PayPal and Technology goliath Microsoft The biggest story of bitcoin in 2013 was its meteors rise in price, which saw it hit a peak of over $1,100 in November. However, during 2014 it has represent a drop of more than 50% according to CoinDesk Price Index. Year: 2015 - From Worst to First: Bitcoin price ends on Top According to CNBC and Bloomberg, Bitcoin was the best-performing currency of the year. Gaining a net of almost 40% gains. Year 2016 - Bitcoin breaks new record Those who saw it coming please raise your hand: Bitcoin not only bounced back from its 2015 doldrums but went on a trend that saw it going almost 120% from the beginning of the year. Year 2017 - The New Era Of Bitcoin Begins Bitcoin prices brake a new record of reaching over $3,200 a new digital currency forced to split the block chain in two – Bitcoin Cash has been created. The bitcoin community has been divided on how to solve its scaling issue. Bitcoin miners attempted to solve the scaling debate earlier this month by signaling support for SegWit2X. And because Bitcoin Cash will have all the history from the old blockchain, any investors with bitcoin tokens will receive the same number of tokens on the new blockchain. The question still remains, if bitcoin will change the new monitory system and replace the central banks or does the bubble is about to burst? Those who have been sitting and waiting all those years surely became frustrated of losing an opportunity of making their fortune. “To know nothing of what happened before you were born, is to forever remain a child.”
BITFINEX:BTCUSDEducation
by ReadBTC
When does winter end for BTC?Just me comparing the last bear market to this one. The blue arrow is where we would hit our lowest price level if this was 2015. $3500 level if we went as low as the last bear market did on the same time frame. It fell from roughly $1150 to $150 between 11/5/13 and 1/14/15. So I put the bottom of the arc at $3500 which would be about the same percentage price reversal before recovering with a date of 1/25/19. (Let me know if my math is off I think that is correct.) You can clearly see that the price falling below $200 got rejected very strongly. So if we put in a very obvious low price before the last bear markets low that would be a great indicator in my mind that things are turning around much faster, I would expect the next bull market to be more rapid to a new blow off top. Just for educational purposes, I am not an expert, this is a hobby for me. Leave me some comments let me know what you think!
BITSTAMP:BTCUSD
by logicalien
3
19,500 by End Aug/ Early Sept? ONLY IF...Even if my chart yesterday shows possible recovery by January 2019: Current movement shows it may even follow my much earlier chart which indicated possible recovery as early as end of this August or early September. Here is my OLD chart from June indicating possible recovery by end-Aug or early Sept: This is DESPITE the current bearish sentiment after yesterday's crash. Here is my NEW chart again (same as the main chart on this post), showing possible recovery by end-Aug or early Sept, matching my June chart: Again, this is ONLY IF we've already seen bottom... hmmm
BITFINEX:BTCUSDLong
by junkofdavid2
ONLY IF we saw bottom, 19.5K recovery by mid JanAssuming we've seen bottom and have resumed uptrend, and we're following similar pattern as 2014, we'll probably see all time high recovery by mid Jan; if history repeats itself this way. Includes corrections at 10K and 12K. Assuming similar 20X parabolic rocket happens after all-time-high recovery, this could be in 5 months instead of 1 year (because of new shorter time frame); and we could see a 300K bitcoin by this time next year (June-July-Aug 2019)
BITFINEX:BTCUSD
by junkofdavid2
1
August 2018: ONLY IF history repeats itself in this way...UPDATE based on last post: Using the 2013 to 2015 time-frame extrapolated into this wave's similar but shorter span, we should re-touch the previous all-time-high (approximately 19,500) by end of August or early September 2018. (Again, this is ONLY if history repeats itself) Recall from my last post: We keep seeing mirror images of the 2014 bear market playing out now. But what if (just if) it has indeed played out, but a bit differently from the common mirror images we've seen? As in this? *I know it's a long shot, but never know! (Isn't all TA long shot?) *As you can see from my recent days' posts, I have both bull and bear scenarios, this is just a bullish possibility... (so in a way "yes," TA doesn't predict) *ONLY IF this is true... that would explain the chop-chop limbo we're in right now. You'll notice that the 2014 reversal wasn't "dramatic" or quick or powerful... but a very gradual chop-chop till it reversed.
BITFINEX:BTCUSDLong
by junkofdavid2
2
2014 Repeat is Already DONE in Shorter Span? THIS...We keep seeing mirror images of the 2014 bear market playing out now. But what if (just if) it has indeed played out, but a bit differently from the common mirror images we've seen? As in this? *I know it's a long shot, but never know! (Isn't all TA long shot?) *As you can see from my recent days' posts, I have both bull and bear scenarios, this is just a bullish possibility... (so in a way "yes," TA doesn't predict) *ONLY IF this is true... that would explain the chop-chop limbo we're in right now. You'll notice that the 2014 reversal wasn't "dramatic" or quick or powerful... but a very gradual chop-chop till it reversed.
BITFINEX:BTCUSDLong
by junkofdavid2
2
History Does NOT Repeat Itself?Yesterday I showed similar patterns which may suggest that history might repeat itself. Today I show how it might not be true either, with super similar patterns which ended up in opposite direction. So you may apply this for both past bullish patterns and past bearish patterns. If you're bullish, you may use this to say that the similarity to 2014's chart doesn't mean we'll have a repeat of that. If you're bearish, you may use this to say that my chart yesterday won't result in a reversal at 5,400. In any case, it's interesting!
BITFINEX:BTCUSD
by junkofdavid2
Update: History TO REPEAT in a BIGGER Way?Similar to past pattern... you decide. (Update from yesterday) To be clear, I'm quite confident in the move to point 6 or near point 6, not the reversal at point 6 (which may or may not happen). *But if it does reverse, it will happen *near but before or slightly after* point 6, not at 6 itself. Why? People will freak out scared if it touches exactly point 6 again so it would go lower for sure (then either plunge further and worsen the bear market, or reverse). Or, if sentiment turns bullish, they'd buy right before it touches point 6 and the reversal would happen there.
BITFINEX:BTCUSDShort
by junkofdavid2