Cryptocurrency technology is subject to the use of blockchain. Bitcoin is open-source, because, since you change its open-source and manage to convince several users of its employment, a new virtual currency is born. But do you know what the differences between each of them are? We present today the main advantages and disadvantages of the worlds most popular cryptocurrencies, according to Mike Orcutt of MIT Technology Review.Bitcoin

It can be said that it was the real driver of a technological revolution. It was born as an innovative network of payments and a new type of money in 2009, prophesying the future of blockchain. Bitcoin, at present, gets to a market value of about 133,546 million euros. Its biggest benefit is that it is the original cryptocurrency. Bitcoin is the main and most established blockchain. However, the growing demand for this currency has made its transactions more expensive.

Also, your system can only process about seven transactions per second and consumes large amounts of electricity due to its consensus protocol.

Ripple

It is one of the most utilized cryptocurrencies. He was born three years later and now has a market value of 26,217 million euros. Among its biggest incentives is helping financial institutions to settle cross-border payments more quickly and economically. This allows Software for trading crypto transactions to be carried out in a much more agile way than in Bitcoin and Ethereum.

On the contrary, it is often criticized that it is not decentralized enough at the time of operation.

Bitcoin cash

It appeared last year following a fork of Bitcoin and is already valued at approximately 15,566 million euros. With it, the Bitcoin software was accustomed to knob larger business volumes. But, like Ripple, this currency is too centralized.

Litecoin

This cryptocurrency of 2011 has a value of 8,193 million euros. It is a Bitcoin duplicate but develops transactions four times faster. Of course, for this, Litecoin needs a lot of energy, preventing it from becoming the ideal means of payment.

Cardano

It is by now appreciated at 4,833 million euros, produced in 2017. This cryptocurrency only serves as a payment and transfer platform, so it stands out for its privacy and regulatory compliance. It is quite similar to Ethereum, but with the difference that it uses a consensus protocol of participation test and consumes less energy. However, the biggest disadvantage likely is that there is still not much information about this new currency.

Eos

Eos also appeared last year and already accounts for some 3,523 million euros in market value. Like Cardano, it will use a proof of participation protocol instead of the proof of employment. And this, in theory, will make transactions faster and more efficient.

Although it is near to raising further 819 million euros within an ICO, the task cannot be evaluated until the system has been launched.

Neo

Neo was created in 2014, currently esteemed at 4,751 million euros. It can boast of being the largest cryptocurrency in China and accepts smart contracts with goals similar to those of Ethereum. Its creators say it allows up to 1 0.000 transactions per second, a number much larger than the 15 transactions of Ethereum. Like other cryptocurrencies like Bitcoin Cash or Ripple, it is too centralized.

Stellar Lumens

With a market value of 4,588 million euros and born in the same year, it is known for being a fork of Ripple. The difference is that a non-profit organization manages it. The biggest disadvantage? Stellar faces great competition and must compete with the dominant platform of the traditional banking system, SWIFT.

Coin purse

In turn, in 2014 appears Monedero, valued at approximately 3,523 million euros. This currency uses a type of digital signature that allows any member of a blockchain chain to make a transaction without revealing their information. It is a way to allow users to make transactions privately and more equal. Probably the biggest problem is that, due to its characteristics, it is usually linked to Monedero with cybercrime.

Iota

Valued at about 3.150 million euros, it does not use a blockchain but a shared accounting book based on a mathematical structure called a directed acyclic graph. Its objective is that the currency is used by Internet devices of things to buy, sell, and market data. Against it, it should be noted that numerous crypto experts have questioned the general security of this system.

Conclusion: Currently, there are approximately 600 cryptocurrencies with different blockchain mechanisms for each. Cryptocurrency can have benefits, but there are some limitations also.

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These Are The Advantages And Disadvantages Of The 10 Most Popular Cryptocurrencies - Programming Insider

The price of bitcoin surpassed $10,000 for the first time since September, as the leading cryptocurrency continues its rally in 2020.

It rose as much as 2.6% to $10,179 last Sunday, capping a gain of about 40% so far this year, according to Bitstamp pricing. With the surge above $10,000, the cryptocurrency's market capitalization has jumped to $183bn. The cryptocurrency is now up more than $3,500 from the low of $6,425 registered in mid-December.

"This breakout is the real deal. Fundamental investment activity is backing this $10k breakout," Willy Woo, partner at Adaptive Capital,tweetedearly Sunday.

Cryptocurrencies have been on an upward trend all year, with some analysts and digital-asset enthusiasts suggesting they've benefited as safe-haven plays amid ongoing geopolitical concerns around the globe.

Ethereum is up 20% over the past five days and nearly 78% higher year to date. So far in 2020, Ripple is up 49%, bitcoin cash is 121% higher and Litecoin is up 88%.

Some Bitcoin enthusiasts are predicting further gains. Fundstrat Global Advisors' Rob Sluymer, for one, sees it rising through the second quarter this year to trade in a range of $10,000 to $11,000.

Bitcoin peaked at almost $20,000 in December 2017 and finished that year up about 1,400% as the cryptocurrency burst into the mainstream. It plunged 74% the next year, before rebounding almost 100% in 2019.

The crypto rally coincides with new record highs on Wall Street; while all three benchmark indexes the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite they closed Thursday at new highs before retreating on Friday.

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Bitcoin hits $10,000 for first time since September - International Investment

Bitcoin SV is pumping again. This has been an all too common narrative in 2020. BSV is now looking to top its 2020 year high its all-time high. This time, there is nothing backing the pump. Back in January, when BSV was pumping, Craig Wright stated that he knew the people behind the pumps. Could the recent pump be their hand at work? And whats their end game?

In mid-Jan, Bitcoin SV shot by more than 100%. This saw the digital asset climb from around $200 at the turn of the year to an all-time high of $360. Much of these gains came between the 12th and 14th. This was a sign that the coin was being pumped, and pumped hard.

This was confirmed by the man behind the coin, Craig Wright. In an Interview with BlockTV, Wright stated he knew who was behind the 100% pump. He, however, denied to state who this was. His admission was a concerning one as it was clear that BSV could clearly be pumped. And in theory, at least, dumped!

I know whats behind it, and who, and whatever else. None of thats public information so Im not going to share it.

Despite being revealed, the whales seem to be still pulling strings. At the time of press, BSV has pumped 15% and going strong. This has taken prices to just over $340.

The primary target now seems to be reaching and surpassing its ATH of $360. The whales end game remains unclear. But it is likely they want to create hype and soon as retail investors are buying, dump at ATH.

Bitcoin SV could further look to surpass Bitcoin Cash in market cap ranking. This happened in Jan but was quickly reversed when Bitcoin Cash rallied. Current data shows that there is almost $4 billion between the two digital assets. While this is a lot to cover in a single rally, lets not forget that this is BSV, the coin that rallied by 100% in a single day.

A majority of other coins, including Bitcoin Cash, are posting moderate gains. This ranges from 1% to 5%. The top coin, Bitcoin, is trading sideways but just above $9,800 keeping the $10K insight.

Summary

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Bitcoin SV [BSV] Shoots By 15%; Are Craig Wright's Whales At It Again?

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Bitcoin SV is pumping again. This has been an all too common narrative in 2020. BSV is now looking to top it's 2020 year high its all-time high. This time, there is nothing backing the pump. Back in January, when BSV was pumping, Craig Wright stated that he knew the people behind the pumps. Could the recent pump be their hand at work? And what's their end game?

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John Kiguru

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CoinGape

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Bitcoin SV [BSV] Shoots By 15%; Are Craig Wrights Whales At It Again? - Coingape

The Bitcoin Cash (BCH) blockchain has seen no new block for five hours earlier today. However, due to low usage, the transaction backlog was cleared without difficulty and normal activity resumed.

Data available on advanced blockchain explorer Blockchair show that BCH block number 620025 was mined at 2:14 on Jan. 30. The next block, number 620026, was found at 7:33 of the same day with 6,950 transactions in 2.33 megabytes, an unusually high number. The following block carried 1,590 transactions in 0.56 megabytes, after which another block has seen a standard amount of about 100 transactions, with regular activity resuming.

For comparison, according to Blockchain.com data, a Bitcoin (BTC) block on average carries about 2,000 transactions. Blockchair shows that Bitcoin Cash, on the other hand, usually sees up to 500 transactions in a single block.

This data means that Bitcoin Cash which has an average block time of 10 minutes has seen no new blocks for 5 hours and 19 minutes. Twitter user Whale Panda, a cryptocurrency enthusiast well known by the crypt community, pointed out earlier today that the number of transactions in the block makes it apparent how little use Bitcoin Cash sees:

BCH has so few transactions that after 5.5 hours of no block it still only fills up 2.3MB.

Cointelegraph has been unable to determine why the mining anomaly above took place. Slower than usual blocks occasionally happen on the Bitcoin blockchain as well, as shown by occasional reports on the matter.

Earlier this week, the Bitcoin blockchain saw a stale block that was later pushed out of the main blockchain and resulted in a double-spend of about $3. The research arm of cryptocurrency exchange BitMEX explained on Jan. 27 that this is unlikely to be the result of a malicious attack given the low value involved.

Such an event is the opposite of a slow block, since it sees two blocks being discovered very near each other in time, resulting in the need for the community to choose one of the two. Such occurrences are also the reason why transactions are considered completely confirmed only after six blocks on the blockchain include them and not just one.

Proof-of-work blockchains, due to the variety of their users and the random nature of the mining process, often show rare events recognized as occasional anomalies. For instance, in mid-November, Bitcoins blockchain mempool was at its highest level since January last year without the expected accompanying spike in transaction number.

Another notorious case of an anomalous Bitcoin block is block number #528249, which had a hash that is very unlikely for a miner to compute. More precisely, it was found that there is about a 0.4699% chance of this block hash being discovered.

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Bitcoin Cash Sees no Blocks for 5 Hours, No Significant Backlog Due to Low Usage - Cointelegraph

Bitcoin cash price started a strong rally from $300 and it gained more than 15%, whereas BTC is struggling near $8,700. BCH/USD could continue to rise towards $400 in the near term.

After getting rejected near $405, bitcoin cash price started a strong downside correction. BCH declined nearly $100 before the bulls took a stand near the $300 support.

A swing low is formed near $300 and the price restarted its upward move. It broke a major resistance area near the $320 level and the 100 simple moving average (4-hours) to move into a positive zone.

Moreover, there was a break above a major declining channel with resistance near $324 on the 4-hours chart of the BCH/USD pair. It opened the doors for more gains above the 50% Fib retracement level of the key decline from the $404 high to $299 swing low.

Bitcoin Cash Price

Bitcoin cash price is now above the $350 level, but it is now facing a strong resistance near $365. It represents the 61.8% Fib retracement level of the key decline from the $404 high to $299 swing low.

If there is a successful break above the $365 resistance, the price is likely to continue higher towards the main $400 resistance area in the near term

There are slight chances of a minor correction if BCH bulls struggle to push the price above $365 resistance. In the mentioned case, an initial support is near the $350 level.

If there is an extended downside correction, bitcoin cash price might dive towards the $330 support. The main buy zone for the bulls is near the $320 level and the 100 simple moving average (4-hours).

Technical indicators

Hourly MACD The MACD for BCH/USD is currently gaining strong pace in the bullish zone.

Hourly RSI (Relative Strength Index) The RSI for BCH/USD is now well above the 50 level, with a bullish angle.

Key Support Levels $350 and $330.

Key Resistance Levels $365 and $400.

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Bitcoin Cash Just Broke $350 and $400 Seems Imminent: Heres Why - newsBTC

Bitcoin Cash has an incredible trading session over the weekend and especially on Sunday. Looking at last week's trading activity, BCH plunged to lows under $300 on Friday. Bullish action on the same day pulled Bitcoin Cash above $320. However, resistance mainly from the 50 SMA on the 1-hour chart stopped the bullish action and opened the door for a retracement back to $300.

The price action on Sunday was arguably impressive with Bitcoin Cash not only defending the support at $300 but also reviving the gains toward $400. Hurdles such as the 50 SMA, $32, the 100 SMA around $330 and $340 caved in allowing for more gains. Bitcoin Cash stepped above $360 but could not sustain gains towards $400.

At the time of writing, BCH is trading has managed to hold onto 13% gains made in the last 24 hours. It is teetering at $352 but also nurturing a reversal movement. It is essential that $350 comes out as a formidable support area to prevent a possible dip in the direction of $300.

The oversold condition of the RSI is contributing to the reversal movement. Besides, sellers seem to be gaining momentum supported by the declining MACD. For now, the path of least resistance is downwards.

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Bitcoin Cash Price Analysis: BCH/USD in reversal after an action packed weekend - FXStreet

The proposed Bitcoin Cash (BCH) tax levy on miners could now be dead in the water.

Bitcoin.com one of the five mining pools backing the plan has withdrawn its support for the tax plan. The sudden u-turn comes just hours after an anonymous group of miners threatened to launch a hash war in opposition to the tax.

Tuesdays post by BCH mining pool, Bitcoin.com, announced the firms re-thinking of the BCH tax proposal. While the possibility of another chain split remains possible, Bitcoin.com will not continue to support the tax plan.

As it stands now, Bitcoin.com will not go through with supporting any plan unless there is more agreement in the ecosystem such that the risk of a chain split is negligible.

Tuesdays blog post noted the tax plans lack of clarity when it came to deciding where the $6 million in tax collections would go.

We think the lack of clarity in this is one of the main drivers of confusion and contention around the various funding proposals. In venture capital, investors do not find talented technical individuals and hand them money to do something.

The tax was initially levied as a way of funding Bitcoin Cashs development in-house. A 12.5% tax would be collected from BCH block rewards for 6 months until $6 million was raised. These funds would then be distributed to BCH developers for the betterment of the project.

The reason funding discussions are taking place is because proper funding will strengthen the Bitcoin Cash ecosystem, but it cannot come at the expense of compromising the foundational goals of Bitcoin Cash. Bitcoin.com will not risk a chain split or a change to the underlying economics.

The anonymous mining group which threatened the chain split took notice of Bitcoin.coms reversal. The group announced their intention to halt plans for a hardfork, and will continue to support BCH for the time being.

We have taken notice of Bitcoin.com post here. We trust Bitcoin.com are going to be able to convince the rest of the signatories to severely amend the IFP. We are therefore standing down and will not start our competing pool for the time being and will continue to support the BCH pools instead.

The tax proposal triggered vigorous debate among developers, miners and investors in the week since its announcement. Originally declared set in stone by its author, Jiang Zhuoer, the plan attracted criticism on a number of fronts.

But the turning point for Bitcoin.com came when the prospect of another chain split reared its head. Both Bitcoin Cash (BCH) and Bitcoin SV (BSV) spent tens of millions competing for hashrate in 2018.

The previous war also had a disastrous effect on cryptocurrency prices, not least Bitcoin Cash itself. The coin lost 87% of its value in five weeks in November of that year. A repeat of this messy affair is sought by no one in the cryptocurrency space.

This article was edited by Samburaj Das.

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Crypto Killed the Tax Man: Bitcoin Cash Escapes Hash War Over Mining Tax Grenade - CCN.com

BCH/USD is on course of charting two heavily bearish days in a row. While the price dropped from $348.25 to $324.85 this Thursday, it has taken a further beating and fallen further to $310.50 so far this Friday. The last two sessions have also seen the price go below the triangle formation. The bulls will need to protect the $300-line to make sure that the price doesnt fall below that critical psychological level.

On the downside, you can see that the MACD indicator has had a bearish session following 42 straight bullish sessions, while the Elliott Oscillator has had six consecutive red sessions. Furthermore, the RSI indicator has dipped from the edge of the overbought zone and is sinking towards the neutral territory. All these indicators confirm that the market is currently in the middle of a strong bearish correction.

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Bitcoin Cash Price Analysis: BCH/USD bears in control as buyers scamper to protect the $300-level - FXStreet

A proposed Bitcoin Cash development fund has sparked complaints that the network is at risk of a hostile takeover by powerful miners.

On Wednesday, Jiang Zhuoer, CEO of mining pool BTC.TOPpenned a new proposal to fund BCH development. The "short-term" strategy involves directing 12.5% of the BCH coinbase reward into a central fund located somewhere in Hong-Kong. This "Infrastructure Funding Plan" purportedly comes in the wake of community inaction in funding BCH, as well as concerns of over-reliance on corporate financing.

But some members of the Bitcoin Cash community are angry at the proposal, seeing it as an attack on the network.

The so-called proposed infrastructure fund is a hostile takeover of Bitcoin Cash development. This change is a trojan horse. It is NOT free, wrote a pseudonymous Bitcoin Cash supporter, known as Annapurna, on a Reddit thread dedicated to fighting the fund.

In nearly 600 words, she raised a number of issues with the proposed idea. This plan isnt about supporting developers, this plan is about stealing from other future miners, wrapped in a fake cloak of concern. Whoever controls these development funds will be all powerful. This entity will be able to force changes they want and exclude those they dont want from protocol development," she added.

The plan currently garners support from five of Bitcoin Cash's most prominent mining pools, including BTC.TOP; Antpool; BTC.com; ViaBTC; and Bitcoin.com, all of whom have a combined hashing power of 32.5%.

The key thing here is that blockchains cant be changed as long as nobody controls more than 50% of its hash ratecomputing power that keeps the network running and safe. But, if the owners of large mining pools come together, its possible they can reach this number and take control of the network. In fact, thats the plan.

Be the first to get Decrypt Members. A new type of account built on blockchain.

The post states, "The miners who want this change are planning a 51% attack to force it through. This attack will guarantee them control over ALL protocol development FOREVER. Whoever controls these funds controls the protocol."

So far, it is unclear who will command the Hong Kong fundset to be the beneficiary of the Bitcoin Cash mining tax. This fund will receive 12.5% of all mining rewards, worth roughly $600,000 a day, or $216 million a year. So, it is important that, if the tax goes ahead, the right team chooses where the funds are allocated.

The Reddit thread even caught the attention of one of the proposal supporters, Roger Verwho controls the Bitcoin.com mining poolwho himself highlighted the lack of a financing plan. He said "Figuring out who gets to spend the money, and on what" will be hard.

There are several defenders of the infrastructure fund. Bitcoin Cash developer Amaury Sechet argued, in a blog post, that it wont tax Bitcoin Cashor indeed Bitcoinminers. Instead, the developer reckons that because the funds come from the block reward only hashing power is affected

"This inflation is usually used to secure the chain and now users will exchange some of the security for money for development," Sechet explained. But, if the tax is used to fund development, that could boost Bitcoin Cash in the long runas long as the chain doesnt become so weak that it breaks under pressure.

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Critics blast Bitcoin Cash mining tax as a hostile takeover - Decrypt

Refundo, a leading provider of tax-related financial products and services, is once again making federal and state tax refunds available in cryptocurrency. Last year, Refundo introduced CoinRT, a service that allowed taxpayers to receive their federal and state tax refund in Bitcoin (BTC). Beginning today, Refundo is introducing support for Bitcoin Cash (BCH), Ethereum (ETC), and Ripple (XRP) as additional cryptocurrency options for receiving tax refunds.

"We love new technology and were always looking for opportunities to help our customers get access to their tax refund in a seamless manner and however they see fit." said, Roger Chinchilla, CEO at Refundo. "When we launched support for Bitcoin last year, we knew we were just getting started. Cryptocurrencies are increasingly faster, lower cost, and fit the need of the underbanked. We are pleased to be able to support BCH, ETC, and XRP and look forward to adding other cryptocurrencies in the near future."

Since inception, Refundo has prided itself on being a champion for the low-income taxpayer. Many low-income taxpayers are subject to high fees and misleading terms when shopping for financial services. For a flat fee of $34.95, taxpayers, whether they are filing their tax return themselves online, or visiting a tax professional, can have their refund issued in cryptocurrency. In doing so, they avoid waiting weeks for a tax refund check in the mail, paying check-cashing fees, or dealing with a traditional bank.

Taxpayers who create a Refundo CoinRT account are each assigned a unique routing and account number to input on their tax return. They are also required to provide all necessary background details for Know-Your-Customer regulations as well as their BTC, BCH, ETH, or XRP wallet address. Once the IRS or state direct deposits the tax refund into this unique account, Refundo processes the refund and the cryptocurrency is deposited into the taxpayers designated wallet.

About Refundo

Refundo is a leading provider of tax-related financial products and services. Founded in 2011, Refundo provides taxpayers and tax professionals products like refund advances, refund transfers, payment processing, audit assistance, and a white-label mobile app to help connect tax businesses with their clients. For more information, visit https://refundo.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20200128005150/en/

Contacts

Media: RefundoJesse Arroyave908-445-5544 ext. 4107jesse@refundo.com

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Refundo Announces IRS and State Income Tax Refunds in Bitcoin Cash, Ethereum, and Ripple - Yahoo Finance

US citizens can now receive their federal and state tax refunds in Ethereum (ETH), XRP and Bitcoin Cash (BCH), in addition to Bitcoin, through the tax service provider Refundo.

Refundo has partnered with BitPay to allow cryptocurrency enthusiasts to receive their refunds in the three popular altcoins. The service is called CoinRT. It launched in April of last year, with Bitcoin (BTC) as the first supported asset. CEO Roger Chinchilla says the company is just getting started.

We love new technology and were always looking for opportunities to help our customers get access to their tax refund in a seamless manner and however they see fit.

When we launched support for Bitcoin last year, we knew we were just getting started. Cryptocurrencies are increasingly faster, lower cost, and fit the need of the underbanked.

To get going, users sign up to CoinRT, verify their identity, provide a crypto wallet address and receive an account number and a routing number. When the IRS deposits the refund, BitPay automatically converts it to the cryptocurrency of the users choice and deposits it into their wallet.

Featured Image: Shutterstock/kkssr

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Ethereum, XRP and Bitcoin Cash Tax Refunds Now Available to US Citizens Through Refundo - The Daily Hodl

Bitcoin

Bitcoin has dropped by a small 5% over the past week as it hovers around the $8,400 level. It found strong resistance at the $8,963 level (bearish .786 Fib Retracement) and was unable to overcome it. The latest retracement was expected, considering that Bitcoin managed to surge by over 30% in January to reach a high of around $9,150. It found support at the 200-days EMA at around $8,200 in todays trading session, which allowed it to bounce back above $8,400. Unfortunately, the RSI has broken beneath the 50 level, and if it falls further, the selling momentum might send Bitcoin back beneath $8,000.

If the bulls can continue to rebound higher from $8,400, the first level of resistance is located at $8,700. Above this, resistance is expected at $8,900 (bearish .786 Fibonacci Retracement level). Beyond $9,000, resistance lies at $9,245 (bearish .886 Fib Retracement) and $9,476 (1.618 Fib Extension). Alternatively, if the selling pressure increases and Bitcoin drops beneath the 200-days EMA at $8,200, support is found at $8,130 (downside 1.414 Fib Extension) and $8,000. The support at $8,000 is further bolstered by the short term .5 Fibonacci Retracement level. Beneath this, support lies at $7,717 (.618 Fibonacci Retracement level).

Ethereum also dropped by a total of 5% this week, which has seen it fall into support at the 100-days EMA at around $158. The cryptocurrency struggled with the resistance at about $174 (provided by the 200-days EMA) and rolled over to fall. The bulls are battling to remain above $158. However, if the RSI drops beneath 50, then the market is most likely going to head beneath this.

Looking ahead, if the sellers push ETH beneath $158, initial support lies at $156 (downside 1.272 Fib Extension and $152 (short term .5 Fib Retracement). Beneath this, additional support lies at $150 and $146 (short term .618 Fibonacci Retracement level). On the other hand, if the bulls defend the support at $158 and bounce higher, resistance lies at $165 and $174 (200-days EMA). Beyond this, resistance lies at $180 (1.414 Fib Extension) and $185 (bearish .618 Fib Retracement).

Against Bitcoin, ETH failed to overcome the resistance at the 100-days EMA and rolled over in todays trading session. It found support at the short term .382 Fibonacci Retracement level at 0.0188 BTC and has bounced back above 0.019 BTC. However, it seems that the sellers may be in charge here, and we might see ETH/BTC heading back toward 0.0185 BTC if the RSI breaks beneath the 50 level.

If the sellers push ETH beneath 0.0188 BTC, support can be found at 00185 BTC (short term .5 Fibonacci Retracement level). Beneath this, support lies at 0.0181 BTC (.618 Fib Retracement level), 0.0179 BTC, and 0.0171 BTC. Alternatively, if the bulls hold above 0.019 BTC and push higher, resistance is expected at 0.0195 BTC (100-days EMA). Above this, resistance lies at 0.02 BTC and 0.0204 BTC (1.414 Fib Extension).

XRP is another cryptocurrency that dropped by a total of 5% this week, bringing the price for the coin down to $0.22. The market has found support here. However, the RSI has dropped beneath the 50 level to indicate the selling pressure is growing. XRP did climb above $0.25 but was unable to make any movement above this, causing it to roll over and fall.

If the buyers continue to climb higher from $0.22, resistance is expected at $0.228 (bearish .382 Fib Retracement) and $0.234 (100-days EMA). Above this, resistance lies at $0.25 and $0.262 (bearish .618 Fib Retracement). Alternatively, if the sellers push beneath $0.22, support lies at $0.218 (short term .5 Fib Retracement) and $0.213. Beneath this, additional support lies at $0.21 (short term .618 Fib Retracement) and $0.203.

Against BTC, XRP remains range-bound as it is trapped between 2600 SAT and 2750 SAT. The cryptocurrency failed to break above the downward sloping trend line as it attempted to move higher. The sellers have now gained control over the market momentum, which could see XRP dropping beneath the range and heading toward 2500 SAT.

Moving forward, if the selling pushes XRP beneath 2600 SAT, support can be expected at 2530 SAT (.886 Fib Retracement level). Beneath this, additional support lies at 2455 SAT, 2400 SAT, and 2360 SAT. On the other hand, if the bulls hold the 2600 SAT level and push higher, resistance lies at 2710 SAT, 2750 SAT, and 2800 SAT. Above this, higher resistance lies at 2900 SAT and 3000 SAT.

Bitcoin Cash witnessed a 7% price decline over the past week after a massive price surge that totaled 110% in January alone. The cryptocurrency trades at around $324 after rebounding from beneath $300 today. The RSI has returned to the 50 level, which shows that the market has pulled back from overextended conditions. If the RSI can remain above 50, BCH should continue further higher toward $400.

Looking ahead, if the buyers defend the support at $314 (.382 Fib Retracement), the first level of resistance lies at $357. Above this, resistance lies at $371 (1.618 Fib Extension), $400, and $423 (bearish .618 Fib Retracement). Alternatively, if the sellers push beneath $314, additional support is found at $300, $286 (.5 Fibonacci Retracement level), $270 (200-days EMA), and $259 (.618 Fib Retracement).

Against BTC, Bitcoin Cash managed to reach a high above 0.044 BTC this week. After meeting this resistance, it rolled over and started to fall into the current support at 0.037 BTC (short term .382 Fibonacci Retracement). The Stochastic RSI has reached extreme oversold conditions and is primed for a bullish crossover signal, which suggests that this round of selling may be reaching completion.

If the buyers rebound from 0.038 BTC, higher resistance lies at 0.0407 BTC (bearish .5 Fib Retracement) and 0.044 BTC (bearish .618 Fib Retracement). Above this, resistance lies at 0.045 BTC and 0.0477 BTC. On the other hand, if the sellers push beneath 0.037 BTC, support is found at 0.026 BTC, 0.035 BTC (.5 Fib Retracement), 0.034 BTC, and 0.0328 BTC (.618 Fib Retracement and 200-days EMA).

Dash dropped by a steep 14.5% this week, bringing the price for the coin down to $102. The cryptocurrency started the year off at around $40 and went on to explode by a total of 265% to reach a high of $143. Dash rolled over after meeting this resistance to trade at the current $102 level.

Looking ahead, if the buyers hold above $100 and push higher, resistance lies at $130 and $143 (bearish .618 Fibonacci Retracement level). Above this, additional resistance lies at $171 (bearish .786 Fib Retracement) and $200. Alternatively, if the sellers push beneath $100, support can be found at $90 (short term .5 Fib Retracement), $79 (short term .618 Fib Retracement & 200-days EMA), and $70 (downside 1.414 Fib Extension and 100-days EMA).

Against BTC, Dash surged above the 0.016 BTC level this week before reversing and rolling over. It found support at the 0.01 BTC level, which let it rebound to the current 0.0122 BTC trading level. The bulls remain in control of the momentum while the Stochastic RSI approaches oversold conditions that suggest a bullish push higher could be imminent.

Looking ahead, if Dash drops beneath 0.0122 BTC, support can be found at 0.0109 BTC (short term .5 Fib Retracement). Beneath this, additional support lies at 0.01 BTC (200-days EMA), 0.0087 BTC (100-days EMA), and 0.0077 BTC. On the other hand, if the bulls push higher from 0.012 BTC, the first levels of resistance lie at 0.0143 BTC and 0.016 BTC. Above this, resistance lies at 0.0171 BTC (bearish .5 Fib Retracement) and 0.020 BTC (bearish .618 Fib Retracement).

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Crypto Price Analysis & Overview January 24th: Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Dash - CryptoPotato

Google recently suspended and removed bitcoin rewards game Bitcoin Blast from its Google Play app store for allegedly deceiving users, but it will not explain to the developers what exactly was deceptive about the game.

On Jan. 20, Google pulled Bling's Bitcoin Blast, a match-three puzzle game that rewards users with bitcoin-redeemable loyalty points. The Android version of the game had been live on the Play Store since May 2019, CEO Amy Wan told CoinDesk.

Within that time, she said, it amassed 800,000 users, 20,000 ratings and 13,000 written reviews, placing it at the top rank for bitcoin rewards searches.

We worked hard to try to get to where we were, Wan said of Bling's five-person developer team.

But shortly after Bling submitted a Bitcoin Blast update that featured new marketing taglines (Earn Free Bitcoin! Cash Out Free Bitcoin!), which Wan said better reflected the current app experience, Google axed it for deceptive practices.

A Google Play Store spokesperson did not respond to a request for comment by press time.

The Bling team is now unsure how to proceed with future updates; Wan said they still do not know what needs to change.

If we dont know what [Google] thinks is deceptive about the game, how can we possibly stop being deceptive? she said. We know the game inside and out, and Google is spending maybe a minute reviewing it.

Googles relationship with the cryptocurrency community has been tenuous for months. The search engine giant, owner and operator of YouTube, Chrome and Android OS has blacklisted crypto content with an often shoot-first mentality, only to then go back and rectify apparent mistakes.

A reporter played the iOS version of Bitcoin Blast for about 25 minutes on Jan. 28, earning slightly more than 1,000 loyalty points the minimum amount users can convert into bitcoin. Attempts to convert the points were successful; the reporters newly made Coinbase account received 103 sats on Jan 29.

But Bling, and the app, may now have to reset. Wan said Google would not let her team fix Bitcoin Blast without submitting an entirely new version under a fresh bundle ID deleting the games amassed history and user reviews. Google has already rejected the companys first appeal, Wan said.

Google further informed Bling, Additional suspensions of any nature may result in the termination of your developer account, and investigation and possible termination of related Google accounts, according to screenshots reviewed by CoinDesk.

If that were to happen, Wan said, it would effectively throttle Bling's entire tech infrastructure, including its iOS app hosted on Google Cloud.

For us, that was a very serious threat because our business runs on Google, she said.

After taking news of the suspension to Twitter, Wan said the Google Play developer Twitter account informed her it would grant the appeal and escalate her case. But she has not seen any meaningful changes in the Play developer console and is unsure what, if anything, will change.

I think it is a black box for all app developers, but I think in particular crypto apps are probably more sensitive, she said.

Wan said the unexplained suspension carries hallmarks of other recent Google actions against crypto programs, services and content. Late last year, YouTube deleted hundreds of crypto-related videos before reinstating most. Chrome also suspended the MetaMask wallet on suspicion it enabled crypto mining. That, too, has been reinstated.

Wan noted the Apple version of the game is still live.

I feel like [Google] is worse for crypto companies because the moment they see crypto or bitcoin, I think Google's red flags just go off, she said.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Developers Say Google Play Unfairly Booted Their Bitcoin Rewards Game - CoinDesk

The BCH infrastructure funding proposal initially announced by Jiang Zhuoer on January 22 will not go through as planned without greater agreement in the Bitcoin Cash community, Bitcoin.com has announced via a read.cash post uploaded today.

Also Read: Heated Debate Continues Over Bitcoin Cash Infrastructure Funding Plan

Bitcoin.com has now announced it will not be going through with the original proposal for infrastructure funding until a greater agreement can be reached among ecosystem participants. In a post to the popular BCH discussion hub read.cash entitled Update on Developer Funding, Bitcoin.com clarifies:

As it stands now, Bitcoin.com will not go through with supporting any plan unless there is more agreement in the ecosystem such that the risk of a chain split is negligible.

Though the Bitcoin.com mining pool was one of five major groups in support of the move initially, contentious discussion and debate erupted as individuals from all backgrounds and degrees of BCH ecosystem involvement weighed in emphatically on the matter. Read.cash quickly became the go-to place for influential voices to support, question, or outright oppose the plan, with some whales throwing heavy support in the form of BCH rewards to authors.

Bitcoin.com maintains that Protocol development in Bitcoin Cash is an important temporary phase to prepare for global adoption and as such, a funding proposal must be temporary. Stating that the goal is global, fast, reliable digital cash the post concludes by assuring readers that any proposal putting this goal at risk needs to be reworked.

Bitcoin.com will not risk a chain split or a change to the underlying economics, the update notes. In order to do this, any proposal will need to have as many people of economic weight on-board as possible, including businesses, exchanges, miners, and Bitcoin Cash implementations.

Read.cash user and vocal BCH community member im_uname found their post, Assessment and proposal re: the Bitcoin Cash infrastructure funding situation, heavily rewarded on the platform, racking up over $1,000 for expressing doubts about the initial plan and suggesting an alternative implementation. Though $1,000 came from a single voter, user MarcDeMesel, the posts reaction helped to solidify read.cash as an up-and-coming hub for BCH debate and discussion.

Im_uname writes: Just six large holders each with 100,000 BCH can contribute $1 million each, 3% of their holdings each, and the mining tax proposals amount will be matched. They can do it every year and still come out with a huge profit, assuming the scaling benefits propel BCH to match todays ETH market capitalization several years later.

Commenter Big-Bubbler added some counterpoint beneath the article, emphasizing that the shock at miners deciding to make the proposed move was somewhat unwarranted. When the miners and the developers team up to do something they think is good for the currency they do have massive power. Pretending they do not is the normal thinking strategy we use on a daily basis, but, it was never true.

Straddling the fence of the contention was another $1,000 post (also heavily upvoted by account MarcDeMesel) on Read.cash. Entitled 7 Impolite Thoughts on the Developer Fund, the article by user Steve-Patterson notes that while unsure of the proposal for various reasons,

One way or another, this proposed development fund will end up being a good thing. The BCH community has finally been shaken out of its slumber. There are real philosophical disagreements in our community that need to be sorted out.

Patterson warns against what he sees as a potential path toward becoming Bitcoin Core 2.0 due to centralized and unscrupulous attempts by prominent developers to grab power.

Weighing in at a whopping $2,220.62 reward at press time, a third article has now been amended in light of Bitcoin.coms recent announcement. The post, uploaded by user shadow-kwh, claims to be the voice of a group of North American and European miners representing, at this point in time, 1.6 exahash/s. The poster notes: We will represent 2.5 exahash/s come May 2020 due to expansion amongst our companies.

The now struck-through article is emphatic in asserting that mining pools and miners should be differentiated, and that the proposed plan might lead to a loss of hash power which could endanger BCH. The post originally culminates with a reiteration that these miners have their back against the wall. In addressing another aspect of the discussion, shadow-kwh linked to another popular post on the platform by Bitcoin Unlimiteds Peter Rizun, which states:

Although the service fee would create a reliable and stable mechanism to transfer money from investors to select developers, such a protocol change comes with great cost. It redefines who owns new coinbases.

Commenters on Rizuns post labored over what they viewed as important distinctions between miners, mining pools, and foundational protocol change versus voluntary action.

With Bitcoin.coms announcement of stepping back from the plan for now, many in the community seem relieved to have a bit of respite to regroup, rethink, and begin to better organize proposals for infrastructure funding more seriously, and perhaps more focused and resolute thanks to the seismic jarring the announcement gave to the space.

The following days, weeks and months will be interesting to watch unfold, especially as the halving approaches. Debate is sure to continue unabated, and much of it will likely be taking place on Read.cash.

What do you think about Bitcoin.coms announcement regarding the developer funding proposal? Let us know in the comments section below.

Images courtesy of Shutterstock, fair use.

Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

Graham Smith is an American expat living in Japan, and the founder of Voluntary Japanan initiative dedicated to spreading the philosophies of unschooling, individual self-ownership, and economic freedom in the land of the rising sun.

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Bitcoin.com Update: Dev Fund Proposal 'Will Not Go Through' Without More Agreement - Bitcoin News

Bitcoin Cash is trading with strong upside momentum from the last 30 days. The astounding escalation in the coin has marked as 12% progression over the last 24 hours. The impressive upsurge has breached the 7-days high and set a new at $359. The upsurge has spike hope among the traders for a flourishing future. The coming period is likely to give the expected result to the investors. The investment in BCH wouldnt end up futile.

Yesterday, Bitcoin Cash started the day dealing at $309.56, and then, the price jumped to $324.27 by 4.75% in the next 8 hours and 31 minutes. The upside movement remained locked with a BCH coin. The price counters changed from $324.27 to $347.13 by 7.12% at 17:13 UTC. After this hike, the currency was trading in a similar range for some time around $347 and closed the day. The intraday movement reflected 12.48% upsurge in the price of Bitcoin Cash.

Today, BCH took the price to $361.32 by 3.74% hike in the initial 30 minutes. The currency price dropped to $352.29 by 2.50% at 05:16 UTC, and then, In the next 1 hour and 41 minutes, Bitcoin Cash price moved to $363 by 3.28%. Further, the price dropped to $359.27. As per the MACD indicator, the signal line and the MACD line is about to intersect. The trend is likely to change soon.

According to the current price movement, the BCH price is about to violate the crucial resistance level at $373. However, if the Bitcoin Cash reverses the current trend, then it would find the immediate support level at $321.

Resistance and Support Levels

R1: $360 R2: $373 and R3: $399

S1: $321 S2: $295 and S3: $281

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BCH Price Momentum Astounds the Traders Overnight - NameCoinNews

If youve ever had a sudden need for fiat while all in crypto, youll understand the difficulty of cashing out without KYC-ing away your identity and that of your unborn children. Localbitcoins is now an AML hellhole, Bisq is great if youre happy to wait two days for a trade, which leaves what exactly? Localcryptos.com. Thats what.

Also read: A Bitcoin War Is Brewing Over KYC

Before its rebrand, Localcryptos (LC) went by the name of Localethereum. Launched in Australia in 2017, the platforms addition of BTC support in late 2019 made a name change inevitable. Just as Localbitcoins.com (LBC) was raising its shutters, ejecting traders whod been with it for six years through draconian KYC, Localcryptos swung open its doors and welcomed in the misfits whose only crime was to desire to swap magical internet money for filthy fiat in privacy. LC havent minced their words in describing their main competitor, LBC, as centralized, custodial and a far cry from private.

The Finland-based LBC, to be fair, didnt want to KYC all their customers away to Localcryptos; blame EU regulators and the jackboot stomp of AML legislation that crushes all who stand in its path. Still, when you cant even make it past the login screen of Localbitcoins to export your trading reputation into Localcryptos due to KYC notices that literally stop you in your tracks, theres something very wrong. KYC is a cancer on society and the world would be a better place without it.

But the purpose of this article isnt to bitch about KYC there are plenty of other news.Bitcoin.com articles that do that. Rather, its to review Localcryptos.com from the perspective of a cryptocurrency user wanting to swap BTC for fiat. I used the site a couple of times this month to cash out, and found LC to be better than LBC in virtually every way, from the clean user dashboard to the escrow and reputation system. As a 2013 OG of LBC, switching my affiliation didnt come easy. But after a couple of effortless trades on Localcryptos, I was sold. Bisq is great for selling XMR, and local.Bitcoin.com for BCH. But for BTC and ETH, Localcryptos has got it locked down.

If you found your way around Localbitcoins okay, youll moonwalk through LC. To make sure, though, I enlisted the help of a friend who well call Patrick. Patrick is new to crypto, and until this review was commissioned, had never sent a bitcoin transaction in his life. I instructed him to send some BTC from his Wirex account to Localcryptos and record his experience of losing his bitcoin virginity, adding If theres anything youre unsure of while doing it, ask, but try and figure out as much of it as possible yourself. Heres what he had to say:

Pretty simple process, really. After creating an account, confirming my email and sending some BTC from Wirex to my Localcryptos wallet, I was good to go. I hit the Sell Bitcoin button on the homepage, chose my preferred payment method (bank transfer), location (UK) and currency (GBP), then got a list of sellers along with the number of trades they had performed and the rate they were buying at. I chose a user with 3,000+ trades and 100% positive feedback and initiated the trade. Now, I had to fund the escrow account and send the trader my bank details, using an encrypted chat.

It took about 25 minutes for the funds to reach the escrow, then the seller advised that he was transferring the agreed amount to my bank. After quickly logging into my banking app and verifying that the GBP was there, I hit Release Escrow and that was it.

Patricks experience of using LC sounds effortless. But in the interests of full disclosure, I should note that he did reach out to me during the process for some guidance. In fact, he sent me a dozen questions over Telegram, adding sorry for the bombardment of questions, its just not obvious and I wanna do it right.

In the event, Patrick did everything right, and successfully completed his first crypto-fiat swap with minimal intervention on my part. Most of the areas where he was uncertain pertained to Bitcoins architecture, rather than UX failings on behalf of LC. That said, Localcryptos could still do more to help beginners out here. The first time you send bitcoin, in this case to a Localcryptos wallet, its not clear that the transaction requires additional blockchain confirmations before the funds can be moved into an escrow account and sold.

That was Patricks main sticking point; a 25-minute wait for BTC to confirm, with no information as to why his funds were unmoveable. My main complaint with Localcryptos is that theres no ability to select your entire wallet balance at the push of a button. As a result, its common to set up a trade, realize youre a few satoshis or vitaliks short of the total amount, and be forced to cancel the deal or send additional funds from an external wallet. This minor gripe aside, Localcryptos gets a thumbs up from me and a nod from Patrick whos now leveled up his crypto knowledge and found a convenient way to cash out when hes strapped for fiat.

Localcryptos is light on regulations, letting you cash out without enduring laborious and invasive KYC at least for now. Whats more, the platform utilizes noncustodial escrow, favoring smart contracts for ETH transactions and P2WSH for bitcoin. At no point are your funds custodied sitting on a centralized server. As with bitcoin P2P platform Bisq, and bitcoin cash marketplace local.Bitcoin.com, users retain their private keys, immunizing them from the fallout resulting from a hack or security breach. P2P exchanges that let you keep your privacy while selling your coins are a luxury in todays surveillance society. Use them while you still can.

Whats your favorite non-privacy-invasive way to convert coins to fiat? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Images courtesy of Shutterstock.

Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see whats happening in the industry.

Kai's been manipulating words for a living since 2009 and bought his first bitcoin at $12. It's long gone. He's previously written whitepapers for blockchain startups and is especially interested in P2P exchanges and DNMs.

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Rebranded Localcryptos Lets You Cash Out BTC Peer to Peer Minus the Hassle of KYC - Bitcoin News

Dec 06, 2019 at 15:38 // News

Despite its false breakdown, Bitcoin Cash had been relatively stable since September. The coin had been exceptional in its fluctuation within the price range of $200 and $240. Each time there is a break down the coin bounces back to its original price range.

Recently, BCH is making a positive move as the price approaches the first resistance at $227. Nevertheless, if the current upward move is sustained and the bulls break above the first resistance, BCH will reach a high of $240. However, any hindrance by the coin at the first resistance will compel it to a sideways move.

Bitcoin Cash has been in a bear market since June. The coin can trade in the bull market if the bullish move is sustained and EMAs are breached. Presently, the coin is surging forward above 20% range of the stochastic.

Key Supply Zones: $320, $360, $400

Key Demand Zones: $200, $160, $120

The pair is in the third month of its sideways move. The bears have had the upper hand over the bulls at the bottom of the chart. The support line was under test on four occasions while the resistance line was tried on two occasions.

Meanwhile, the coin had been stable for position traders because of price stability. It has proved unprofitable for short term traders as the market fails to trend. Nevertheless, we expect that the bulls will break the price at $227.

Disclaimer. This analysis and forecast are the personal opinions of the author are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing funds.

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Bitcoin Cash (BCH) Bounces, a Move above $227 Increases the Prospect of a Rally - Coin Idol

The basic concept of trading is to buy cheap and sell expensive. It is simple but in the world of trading conditions change very fast.

The perception of the value of an asset changes rapidly, and with it, the price someone is willing to pay. But the price paid for something is also important. Except in cases of need for liquidity or fear of losing, even more, no one sells below the cost price of their product.

In the world of trading stocks, currencies, or commodities, these magnitudes can be measured using option positions. In the crypto market, tools such as those provided by Intotheblock provide us with this information.

This tool provides us with information about the position in which the holders of a cryptocurrency are. This information defines three possible areas:

-In the Money: Defines the number of active addresses that are in profit. That is, if they sold their positions, they would make money.

-Out of the Money: Defines the number of active addresses that are losing money. In other words, if they sold their adpositions, they would lose money.

-At the Money: Defines the amount of addresses that are neutral. In other words, if they sold their positions, the result would be more or less neutral for their account.

Now let's see how these magnitudes are distributed in thee 4 top cryptocurrencies by capitalization.

In the distribution of positions in Bitcoin, there are currently 16.31 Mill of addresses (57.37%) In the Money, 10.91 Mill of addresses (38.39%) Out of Money and 1.21 Mill of addresses At the Money (4.24%).

The highest concentration of winning positions is in a range between $944 to $4,386 (2.8 Mill Bitcoins).

The highest concentration of losing positions are in the range between $10,051 and $19,310 (2.5 Mill Bitcoins).

The most remarkable information is the large volume of positions bought in the highest price range, which supports the idea that the price would tend to go up. In normal conditions, these buyers at high levels will not sell their Bitcoins.

It is also important to highlight the number of Bitcoins (1.2 Mill) quantified at zero or quasi zero cost. These are Bitcoins mined in the first moments. This group represents the biggest threat to the price.

In the distribution of positions in the Ethereum, there are 3.71 Mill of addresses (11.09%) In the Money, 28.89 Mill of addresses (86.47%) Out of Money and 227.2 K of addresses At the Money (2.43%).

The highest concentration of winning positions is between $0.01 to $145.67 (34.5 Mill Ethereums).

The largest concentration of losing positions are in the range between $153 and $175.86 (12.6 Mill Ethereums).

The most remarkable information is that the largest group in losses is just above the current price, which would be a reason for it to cost so much to exceed that level between $153 and $175 to the ETH/USD pair. There are many people who, when the price reaches these levels, will be making money and might be tempted to sell. These sales consume upside potential and complicate evolving to higher rates.

In the distribution of positions in Bitcoin Cash, currently, there are 14.8 Mill of addresses (84.77%) In the Money, 2.57 Mill of addresses (14.70%) Out of Money, and 93.5 K of addresses At the Money (0.54%).

The highest concentration of winning positions is in a range from $0.00 to $0.00 (5.95 Mill BCH).

The largest concentration of losing positions are in the range between $246 and $320 (1.82 Mill BCH).

The most remarkable information is that the highest concentration of winning positions is at 0 costs, so they are tokens obtained in the fork process, distributed among the Bitcoin forks.

It is also interesting to see how few addresses there are in the current range, ranging from $208 to $220. At this price level, there should be very little resistance, as few traders are willing to sell.

In the distribution of positions in Litecoin, currently are 571 K of addresses (15.14%) In the Money, 3.12 Mill of addresses (82.51%) Out of Money, and 88.6 K of addresses At the Money (2.35%).

The highest concentration of winning positions is between $28.4 to $44.5 (15.7 Mill from Litecoins).

The largest concentration of losing positions are in the range between $73.5 and $94.3 (9.4 Mill of Litecoins).

The most remarkable information is that the current price rests directly on the largest volume of traders who are in the money, so they have no anxiety to sell and thus give strength to the ongoing supports.

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Open Positions Report: Where's the money in the crypto market? Bitcoin, Ethereum, Litecoin, Bitcoin Cash - FXStreet

Cryptocurrencies continue to trade in intense selling pressure. As for Bitcoin Cash, pressure on key support is putting support areas such as $210 and $200 in jeopardy. The impressive correction above $220 failed to take the price action above $230. Instead, Bitcoin Cash formed a high around $227, later giving way to the ongoing retracement.

The break below the shallow short-term rising wedge pattern is also contributing to the dire declines experienced on Sunday. BCH is trading 3.4% lower on the day while the volatility expands. The price is also beneath the 50 SMA on the 4-hour chart.

If the support at $210 gives in, Bitcoin Cash could smash through the next support at $200. The region between $190 and $200 continues to be the saving grace for BCH, especially with heavy buyer congestion.

The RSI and the MACD show that the bears are bound to get more ruthless in the coming sessions. It is likely that Bitcoin will have a drab start for the week that begins on Monday.

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Bitcoin Cash Price Analysis: BCH/USD ruthless bears gnaw the price towards $200 - FXStreet

Financial analysts always keep an eye on the percentages by type of owner of any asset they analyze.

Everybody assumes that the owners of the professional investment group are on the right side of the market, while the individual investor is often on the wrong side of the market.

As a rule, the group of professional investors has priority access to new investment proposals. They have priority access to new company IPOs, capital available, and expert information.

In contrast, the individual investor often lags behind the decisions of professionals, buying what they want to sell, and selling what they want to buy.

The cryptocurrencies case is different from any other current asset.

The crypto market is relatively recent, as it is only 11 years since Satoshi Nakamoto published the White Paper of Bitcoin.

In the beginning, the only ones who had access to the appreciated token were technologists, cryptographers, developers and a few geeks who put their computers to mine Bitcoins.

That was more than a decade ago and today, there are still very few owners of Bitcoins with illustrious surnames from the financial world.

Despite the relative opacity that surrounds cryptocurrencies, the only thing truly opaque is the name of the owner and thats only in the cases in which exchange does not intervene. The rest of the information is public, freely accessible and decentralized.

This quality of blockchain technology allows us to know some exciting things that would be difficult for us to know in the case of Gold or Diamonds.

In this blockchain world, people store the units of value in digital wallets and their content and movements are public. The magnitudes to be taken into account and which are public are the number of tokens they keep and the time since the last transaction.

Today I am going to analyze the first of these magnitudes: the accumulated volume and its distribution.

Let's take a look at the profile of owners of the leading cryptocurrencies and their implications.

The study divides the owners of cryptocurrencies into three groups:

- Retailers: Wallets that have less than 0.1% of the total circulating.

- Investors: Wallets that have between 0.1% and 1% of total current assets.

- Whales: Wallets with more than 1% of total existing assets. *

* Whales is the name given to large owners, usually early adopters of this technology and accumulating hundreds of thousands of tokens.

Bitcoin has a very democratized distribution. 88.99% of the wallets belong to the group of Retailers, 9.59% to the group of investors and only 1.41% of whales.

From this distribution, we could deduce that the Bitcoin market is not as vulnerable to whale manipulations as it is believed and that a majority of its holders have small quantities.

Ethereum is distributed among retailers at 61.03%, while investors reach 31.51% and whales reach the figure of 7.45%.

In the case of Ethereum, we see that it is more vulnerable to massive actions since, between investors and whales, they approach the percentage control of the asset. This distribution highlights that Ethereum uses PoS (Proof of Stake) as a mining protocol, which requires "stacking" tokens and makes investors not sell their stocks massively.

The BCH is distributed among retailers at 71.8%, while investors reach 22.57% of the total working capital. Whales account for 5.63%.

The Bitcoin Cash case resembles the Ethereum profile, but in this case, it uses a PoW (Proof of Work) protocol in its mining, which does not require stacking tokens to increase the mining power. This mining method could justify because its owner profile is more similar to that of Bitcoin, which also uses PoW.

The distribution of Litecoin among retailers is 53.48%; investors accumulate 40.91% of the wallets and whales keep 5.62% of the total circulating.

Source: Intotheblock

Litecoin uses a PoW (Proof of Work) protocol, similar to Bitcoin, although the former makes intensive use of computational memory and the latter of computing power. As we can see, investors, who are not obliged to stack Litecoins, keep them in their portfolios in a massive way.

The distribution of Cardano among retailers is 58.59%; investors accumulate 7.52%, and whales gather a significant 33.89%.

Source: Intotheblock

Cardano uses a PoS (Proof of Stake) protocol. From the profile we have just seen, the original whales still maintain a large number of tokens and ultimately dominate the mining. The profile also shows a high vulnerability of Cardano to the great concentration of the current total.

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Understanding the distribution of the crypto market: Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Cardano - FXStreet