The mood of the crypto market in these last hours moves between fear and depression, a journey that also involves stops at anxiety and doubt.

According to a recent study, the number of Google searches on Bitcoin and Ethereum has plummeted and dropped more than 94% in the week.

The crypto market has always been hyper-reactive to the price movements, with uncontrolled euphoria followed by disorderly panic, unreasoned hopes with senseless despair.

Now it is happening again, but from a trader's point of view, it is powerfully striking that despite this intense pessimism floating in the atmosphere, prices remain more than 100% above the lows of a year ago.

There are also bearish arguments based on opposite sentiment strategies due to the high number of bullish positions and also bearish targets for Bitcoin in the $5,000 zone.

But it's not all bad news.

As general public interest has declined this year, the number of developers involved with projects based on blockchain technology, mainly in Ethereum, has increased.

Moreover, almost at a daily rate, we have news about the involvement of governments and central banks in new projects on national electronic currencies and new regulatory proposals.

If it were not for the crypto hysteria evident in the media, mine first, I would say that the matter is not as bad as some would have us believe.

The ones that have the potential of the blockchain universe very clear are the Chinese politicians and industry leaders. The global giant certainly does not support anonymous cryptocurrencies, even though a whopping 66%! of the hash rate installed in the Bitcoin network is concentrated behind the Great Wall.

The Chinese government declared that they believe in the blockchain revolution and that they want to lead this new revolution, and for now, it seems that only Europe is reacting from the institutional point of view.

In the US, the legislative initiative remains in the hands of each state of the union. The Federal Government attacks Facebook aggressively for its Libra project and the advances in favor of the adoption of the new technology come from the private sector.

The ETH/BTC cross is currently rising above 1% and reaches the price level of 0.020051.

I have already stated in several articles my conviction that the next bull market of the cryptomarket will be led by the bullish movement of the ETH/BTC pair.

Earlier this week, I highlighted a necessary short-term move in this pair, so I will pay special attention to the cross between Ethereum and Bitcoin in the upcoming hours and days.

Above the current price, we can find two major obstacles. The first is at the price level of 0.0205, where the SMA100 and the EMA50 pass. The next key level is at 0.0222, where the SMA200 and the long term bearish line converge. Finally, and only above the resistance level of 0.0227, the ETH/BTC pair would move up very strongly.

Below the current price, the risks are obvious. The first support level is at 0.019, then the second at 0.018 and the third one at 0.017.

The MACD on the daily chart begins to show a full bullish cross, with a profile that augurs that the move will not be fast.

The DMI on the daily chart shows the bears recovering but not getting past the ADX line again, which takes away credibility from the bearish side. The bulls also do not increase their strength, so it seems that indecision is the guide of the current moment.

The BTC/USD pair is currently trading at the price level of $7,173and holds at the support level of $7150.

Above the current price and speaking exclusively of critical levels, the first resistance level is at $7,500, then the second at $7,930 and the third at $8,640.

Below the current price and speaking of crucial levels, the first support level is at $6,840, then the second at $6,500 and the third one at $5,000.

The MACD on the daily chart shows how the profile continues to be bullish, although with a little opening between the lines. The structure favors the resumption of the bullish momentum that began at the end of November.

The DMI on the daily chart shows bulls very well positioned to attack bear leadership.

The market is playing on paths that start together but end in opposite directions.

The ETH/USD pair is currently trading at the $144.12price level and it is recovering from bad times early in the day. At this point, he draws the figure of a hanging, a typical technical turning figure.

Above the current price, the first major resistance level is at $155, then the second at $161 and the third one at $175.

Below the current price, the first critical support level is at $130, then the second at $125 and the third one at $120.

The MACD on the daily chart shows an excellent bullish profile, although reducing the distance between the lines.

The DMI on the daily chart shows the bulls at the same lows as in recent weeks. The bears, on the other hand, gain strength again and get an excellent bullish profile, dominating the pair with ease.

The XRP/USD pair is currently trading at the $0.2205price level and recovers some of the losses early in the day.

Above the current price, the first resistance level is at $0.23, then the second at $0.245 and the third one at $0.255.

Below the current price, the first support level is at $0.21, then the second at $0.19 and the third one at $0.17.

The MACD on the daily chart shows the best bullish profile among the TOP 3. It has retained the slope and openness between the lines, so a change in the market that would bring in fresh money would be very positive for the XRP/USD pair.

The DMI on the daily chart shows the bulls at their lowest level since the last week of November, without any upward reaction. The bears gain a bit of momentum and stay a long way ahead of the buyer side.

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Top 3 price prediction Bitcoin, Ethereum, Ripple: Some roads lead to the moon, hysteria to hell - FXStreet

Amazons Ring cameras are now commonplace in homes of early smart tech adopters across the country, but just how secure are they? Recent reports from Ring owners read like a horror movie, with bad actors invading the internet-connected cameras and causing all manner of distress.

One of the most bizarre recent reports comes from Grand Prairie, Texas, where a couple says they awoke in the middle of the night to an alarm coming from their Ring camera. But thats not all they heard; After the couple came to investigate, a voice over the Rings built-in speaker claimed that the couples Ring account had been terminated, and that they themselves would be terminated if they didnt fork over a hefty haul of cryptocurrency.

The hackers demanded a whopping 50 bitcoins. Going by the current conversion rate, thats over $350,000. In a brief video of the incident posted by local ABC affiliate WFAA, the individual who accessed the camera and its speakers can be heard laughing, so its unclear exactly how serious this threat was.

If the bad actors had simply accessed the couples Ring camera, this would likely be a bit of a non-story, but what makes this whole thing scary is that they also gained control over the homes Ring doorbell. They used their access to the doorbell to spoof their presence outside of the couples home, making the homeowners believe that someone was actually stalking their property while demanding the ransom.

Ultimately the hackers plan was foiled when the couple decided to shut down their Ring doorbell by yanking its batteries. Without that line of communication and access to live video from inside the home, the hacker or hackers apparently called it quits and moved on.

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Ring hackers demand $350,000 in Bitcoin from Texas couple, but something so simple ruined their plot - BGR

Bitcoin and cryptocurrency markets are well known to be highly volatile but a sudden 70% plunge in under one hour is extreme even for the scandal and scam-ridden crypto market.

Matic, a digital token used on the blockchain scalability-focused Matic Network, suddenly crashed around 70% last night, before a slight recovery.

[Update: 7:15pm December 11 2019] Matic failed to make up ground during today's trading, with the cryptocurrency now priced at $0.017 per token. The fall in the matic price may have boosted one of its closest rivals, chainlink, which is up almost 10% on the day to $2.28.

The reason for the collapse in the matic price, which dropped to $0.013 from $0.042 in under an hour, was not immediately clear though the chief executive of popular bitcoin and cryptocurrency exchange Binance, Changpeng Zhao, took to Twitter to reassure matic users.

Traders and investors have been scrambling to find out the reason behind the sudden price collapse, ... [+] with concerns it could spread to bitcoin and other major tokens.

"Our team is still investigating the data, but it's already clear that the matic team has nothing to do with it," Changpeng Zhao, who's often known simply as CZ, said.

"A number of big traders panicked, causing a cycle. Going to be a tough call on how much an exchange should interfere with people's trading."

Meanwhile, the cofounder and chief operations officer of the Matic Network, Sandeep Nailwal, said he is investigating the cause.

"It will be clear very shortly that we are not behind this, as some [fear, uncertainty, and doubt] accounts are trying to insinuate," Nailwal said.

"We will post a detailed analysis and we will come out stronger than ever from this evident manipulation."

The bitcoin price, as well as the wider cryptocurrency market, has not been hit by the sudden matic sell-off with prices of other major tokens relatively flat across the board.

One popular bitcoin and cryptocurrency commentator and trader, Alex Krger, highlighted matic's rise and fall over recent weeks as "the stuff of dreams and nightmares."

"What happened with matic can happen to any token," Krger said via Twitter.

"It would be very surprising for it to happen to the large caps, but it can still happen. Adjust selling volume by market cap or order book liquidity, and presto. Hence why crypto is traders paradise, investors hell," Krger said, adding there's currently an "apocalypse" going on with minor cryptocurrencies.

The matic price began a huge bull run towards the end of November, breaking away from the wider ... [+] bitcoin and cryptocurrency market.

Matic has soared over recent weeks and recorded a market capitalization of over $100 million for the first time since its launch earlier this yearup 180% in just two weeks.

The matic price has reportedly been boosted recently by blockchain-based game Battle Racers launching a range of so-called crypto-collectibles on the Matic Network sidechain, sending the price up by around 10% in a 24-hour trading period last week.

Meanwhile, some matic investors and traders have speculated the sudden move lower could be the result of a so-called pump and dump, where a large buyer inflates the price over time before offloading their holdings, or an exit scam, where the developers of a digital asset suddenly sell their holdings and abandon the project.

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This Bitcoin Rival Just Crashed By A Shocking 70% In An Hour [Update] - Forbes

Bitcoin and cryptocurrencies have been written off by many as nothing more than a flash-in-the-pan fad, riddled with scams and criminals.

The bitcoin price, which looks set to close the year at twice its January price, has remained highly volatilewhile sluggish bitcoin adoption continues to worry those in the crypto industry.

Now, amid warnings that the "fragile" fiat currency system will be put under strain in years ahead, Germany's troubled Deutsche Bank has asked, "will fiat currencies survive," in what it calls the "multi-trillion dollar (or bitcoin) question."

Could bitcoin take over the world by 2030? Deutsche Bank analysts think it's not outside the realms ... [+] of possibility.

"The forces that have held the current fiat system together now look fragile and they could unravel in the 2020s," Deutsche Bank strategist Jim Reid wrote in a report looking at 24 alternative ideas for the next 10 years.

"If so, that will start to lead to a backlash against fiat money and demand for alternative currencies, such as gold or crypto could soar. The demand for alternative currencies will therefore likely be significantly higher by the time 2030 rolls around."

The report blamed "decades of low labor costs" and inflation for weakening the fiat system and comes after a year that's seen the bitcoin price boosted by social media giant Facebook's plans to launch its own private cryptocurrency, dubbed libra, and countries from China to the European Union begin to explore how to create digital currencies of their own.

Central banks are still struggling to offset the effects of the global financial crisis that birthed bitcoin, with worries another so-far-unidentified crisis could be looming on the horizon.

"Will fiat currencies survive the policy dilemma that authorities will experience as they try to balance higher yields with record levels of debt," Reid asked. "Thats the multi-trillion dollar (or bitcoin) question for the decade ahead."

Bitcoin is often touted as an antidote to the central bank, debt-based monetary system, picking up the moniker "digital gold" for its built in scarcity. There will only ever be 21 million bitcoin, with the supply drying up in the distant year of 2140.

Reid's comments put him at odds with outgoing European Central Bank executive board member Benot Cur, who last year described bitcoin as "the evil spawn of the financial crisis," and has outlined plans for a European "central bank digital currency" to rival the likes of Facebook's libra.

Deutsche Bank, which has seen its value cut by 90% in the ten years since bitcoin was created, has also predicted corporate and government banked cryptocurrencies will drive crypto adoption.

"Assuming governments back cryptocurrencies, and consumers want them, adoption rates will drive the timeline for mainstream use," Reid wrote. "If current trends continue, there could be 200 million blockchain wallet users in 2030."

Deutsche Bank has forecast there could be more than 200 million bitcoin and cryptocurrency users ... [+] around the world by 2030.

Meanwhile, other banks are warning that the year ahead could bring an overhaul of the "status quo."

We see 2020 as a year where at nearly every turn, disruption of the status quo is an overriding theme," Saxo Bank's chief economist Steen Jakobsen wrote this week in a report titled "10 Outrageous Predictions for 2020."

"The year could represent one big pendulum swing to opposites in politics, monetary and fiscal policy and, not least, the environment. In policy making, it could mean that central banks step aside and maybe even slightly normalize rates, while governments step into the breach with infrastructure and climate policy-linked spending."

Stay informed and ahead of the crowd with Forbes Crypto Confidential, a free weekly e-letter delivered to your inbox. Sign up today.

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Deutsche Banks Massive Multi-Trillion Dollar By 2030 ...

DedMityay - stock.adobe.com

Ah, Bitcoin. The stuff of dreams. The new frontier in currency and commerce. The gateway to a world dominated by blockchain technology, with newly-minted zillionaires lining of streets of urban and rural sites across the globe. Or, the speculative arm of a legitimate evolution of financial transactions.

Now, before you get all defensive about how amazing Bitcoin is, and tell me how out of touch I am (after all, at age 55, I am way too old to understand this stuff, right?), hear me out. I do see the role of blockchain technology in the global economy going forward.

However, I think of Bitcoin, the most famous of crypto-currencies, like Band-Aids are to adhesive bandages (hint: same thing, but one is a brand name, the other is just what the product is). Bitcoin is the proverbial poster-child for this new way to hold money. That is all fine with me. My point, though: just dont pretend it is a substitute for traditional hard currencies. Not yet, anyway.

My evidence for that statement: the price of Bitcoin is not at all stable. Its price is more volatile than most stocks. You wouldnt take the money you need to pay this months mortgage or buy food for your familys dinners this week, and put it in an S&P 500 Index Fund, would you? Actually, I am afraid of the answer from too many investors. But I digress. The point is that Bitcoin still appears to be a trading tool (toy?), rather than a store of value, which is the textbook definition of a stable asset.

For that reason, I refuse to look at Bitcoin as a currency when following its price movement. However, as a vehicle to trade to make profit on over periods of time, I see it the way I see stocks and ETFs: as something to chart, and to evaluate its reward/risk trade-off at any point in time.

And, while I have not yet invested Bitcoin for my clients or myself, I am willing to consider it if it meets my usual investment criteria. One of those is that it can be charted.

^NYB_technical_chart

Remember that time when Bitcoin ran up to seemingly impossible heights, then dipped below 8,000, then crashed to under 4,000? Above, you see the price of Bitcoin over the past couple of years. It shows that last dizzying episode from 2018. And to me, it appears to be setting up for a repeat performance.

Now, technical analysis (charting) is more precise when there is deeper data and history behind the price activity. With Bitcoins limited history as a popular asset, and the fact that it is not a business like a stock, we have less to work with than we would with a stock or commodity. However, if you look at the right side of the chart, you see an orange line. That line is falling, and it is close to falling below the red line. This is occurring while Bitcoin is quietly in the midst of repeating its early 2018 price pattern.

That last round of Bitcoin price drama had a similar pattern, as you can see in May of 2018. At that point, the orange line (which is the 50-day moving average of Bitcoins price) crossed below the 200-day moving average (the red line), just as it is poised to do now. That death cross as chart geeks often call it, is happening now at about the same Bitcoin price level (8,200) as it did then.

I dont know, but I wouldnt simply blow it off as a coincidence. After all, the downside risk of ignoring the chart pattern in Bitcoin was about $5,000. Bitcoin fell from that 8,200 level to about 3,250 at its December, 2018 low, before quadrupling in value 7 months later.

And that brings me back to my main point: Bitcoin is not an investment at this stage of its development as a marketable security. Neither are small marijuana companies, and penny stocks. They are trading tools for virtual rooms of speculators. It is somewhere between a casino and the latest version of the greater fool theory, where you can profit from owning it as long as someone is willing to buy it from you. I would insert an analogy to tulip bulbs here, but suffice it to say, just look that up yourself.

Last point: one of my personal investment tenets, and what I say to clients who tell me they are investing in Bitcoin or some other trading toy, is this: its OK to take big shots, as long as you do it with small amounts of money. Just dont confuse speculation with investing.

Comments provided are informational only, not individual investment advice or recommendations. Sungarden provides Advisory Services through Dynamic Wealth Advisors

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What The Charts Say About Bitcoin - Forbes

Bitcoin and cryptocurrency has long been known to appeal more to younger generations than older ones (though there are some notable exceptions).

Meanwhile, the bitcoin price has been boosted in recent years by adoption from the traditional financial services industry and this is expected to increase as Millennials (aged between 25 and 39) and Gen Z (those born between 1996-2010) become financially mature.

Now, a report has found Grayscale Investments Bitcoin Trust, a publicly tradable bitcoin and cryptocurrency investment vehicle, is among the top five equity holdings for Millennials, next to technology giants Amazon, Apple, Tesla and Facebookand ahead of investor darlings Netflix and Microsoft.

Bitcoin looks set to end the year as one of the best-performing assets, up around double where it ... [+] began 2019.

The Grayscale Investments Bitcoin Trust, which recorded inflows of $255 million for the third quarter, up three-fold on the previous quarter, is also more popular than stocks of Warren Buffetts conglomerate Berkshire Hathaway, movie studio Walt Disney, and China's biggest online retailer Alibaba, according tothe report from U.S.-based bank and stock brokerage Charles Schwab.

The Grayscale Bitcoin Trust was found to be held by 1.84% of Millennials surveyed by Charles Schwab, with Netflix at 1.58% and Microsoft at 1.53%.

Elsewhere, online retailer Amazon and iPhone-maker Apple were found to be popular across the generational divide, with the two U.S. tech giants holding the top two spots for Millennials, Gen X, and Baby Boomers.

Google's parent company Alphabet was notably absent from the list of company stocks held by Millennials.

The report chimes with research out earlier this year that found there's a growing interest in bitcoin and cryptocurrency investments amongst Millennials and younger generations as they deal with the long-term effects of the global financial crisis and a lack of trust in the traditional financial services sector.

Technology companies dominate the most popular investments for all generations, though only ... [+] Millenials show much interest in bitcoin.

Earlier this year, Grayscale Investments launched a campaign called #DropGold, aiming to make "investment portfolios to reflect that bitcoin has become digital gold for todays forward-thinking investors."

"There is a generational shift in how individuals are approaching investing. We strongly believe that investments in gold will be reallocated to bitcoin as Baby Boomers begin transferring their wealth to a younger generation of investors, one that wasnt raised on the gold standard," said Barry Silbert, founder and chief executive of Digital Currency Group and its subsidiary Grayscale Investments, said at the time.

See more here:

Bitcoin Beats Netflix And Microsoft - Forbes

(Disclosure: Author holds an investment in bitcoin.)

There have been a lot of analogies over the years to bitcoin being a sort of digital gold. But how does bitcoin actually compare to gold as a storage unit of value? Can it protect against the risk of inflation the way gold does? Lets compare bitcoin and gold and see how they stack up as wealth preservation tools.

Trust In Bitcoin Vs. Gold

An asset cannot be used as a way to store wealth if the majority of people dont agree it is valuable and believe it will remain valuable in the future. This is one area where gold has a clear advantage. Whether it takes the form of coins, jewelry, art or something else, someone in 2019 B.C. would be just as likely to agree that gold is valuable as someone in A.D. 2019.

Bitcoin, because it is so new, doesnt have this advantage. Its only been around a decade. Its going to take more time for bitcoin to prove itself as a long-term tool for storing wealth.

Portability

Here is one area where bitcoin is the clear winner. Bitcoin is a nonphysical asset, and can be sent and received from anywhere with an internet connection. It also operates entirely outside the banking system, so it is easy and fast to send and receive payments across borders.

Gold must be physically stored somewhere, whether in a personal safe or with a company in its vaults. If you dont hold the gold yourself, you cant access it at will, and if you do, it doesnt necessarily mean you can move it around easily. Try bringing several pounds of gold onto an airplane without attracting attention and suspicion at the airport.

Furthermore, some governments throughout history have attempted to ban or confiscate privately owned gold (it was actually illegalfor private citizens to own and hold gold for 41 years in the United States).

It is much less likely a government could successfully block access to bitcoin, as doing so would require blocking access to the internet as a whole. China has attempted to block access to bitcoin several times over the past decade, and even with its great internet firewall, it has been unable to make a meaningful impact.

Barrier To Entry

Gold stands at about $1,500 per ounce at the time of this writing. So if you want to buy a 1oz coin, thats the minimum youd pay. You can buy bars in smaller sizes, but you can only shrink a physical asset so much.

One bitcoin is around $8,100 but remember, you do not need to buy a whole bitcoin to get exposure. Bitcoin is divisible by 100 million into the smallest possible unit, the Satoshi, or sat. If you wanted to get started with only a couple dollars investing in bitcoin, you could do that. Bitcoin (and cryptocurrencies in general) have a much lower barrier to entry for people who dont have a lot of money to throw around.

Protection Against Inflation

One of the most popular reasons for buying gold is to hedge against inflation. Some people fear the dollar, or whatever fiat currency they are holding, will experience a decline in value in the future. So, they convert it to gold to help protect their wealth against inflationary changes.

Both bitcoin and gold can be used for this purpose, though bitcoins price volatility can make people uncomfortable. No matter which you prefer, there is no denying the price of gold does not fluctuate nearly as much as any non-stablecoin digital currency.

Growth Potential

Over the past 20 years, gold has risen from around $430 per ounce at the end of 1999 to about $1,500 today. If you bought it then, you basically tripled your money. Thats certainly nothing to complain about.

Bitcoin has experienced unbelievable growth. When it first appeared in 2009, it was worth fractions of a penny, but steadily increased in value relative to the U.S. dollar over time. With each halving (when the algorithmically determined supply of new bitcoins being generated is cut in half), the price of bitcoin exploded a year or so afterward. Between 2015 and 2017, for instance, bitcoin experienced nearly 9,000% growth when it reached its all-time high of nearly $20,000. While there was a sharp correction after each all-time high, the new low was always significantly higher than before. If this pattern holds with the next halving, the short- to medium-term growth potential of bitcoin could be much higher than gold.

Functionality

One of the core arguments in favor of gold is that it is a physical commodity and you can actually do things with it. Gold is used for jewelry, electronics, dentistry, aerospace equipment and more. It has real, tangible utility besides money. There is a certain base level functional demand that contributes to the value of gold, but the majority of the demand for gold is based on the speculative value.

Bitcoin, of course, is a purely digital creation and really cant serve any purpose besides being a digital, nonphysical storage unit of value and medium of exchange. Bitcoin has a certain base level functional demand for people and businesses using it as a payments network, but the majority of the demand for bitcoin is also speculative.

Risk Vs. Mobility

This is a polarizing topic among financial experts. Some passionately argue in favor of gold and dismiss cryptocurrency as not real, while crypto proponents call the naysayers goldbugs who refuse to have an open mind.

Im not here to give financial advice, but I will say this: Gold has proven itself over the millennia, and I believe bitcoin is about the closest thing to a frictionless, portable, nonphysical form of gold that currently exists. Ultimately, what matters is your own tolerance for risk and how mobile you need your wealth to be.

The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.

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Is Bitcoin A Better Store Of Value Than Gold? - Forbes

Photo by Chesnot

It will seem strange to many but there are a lot of people preparing for the end of the world. Its not just the prepper community that has Armageddon anxiety, its quite a common thing. Who is to blame anyone for expecting the worst when the media pours out a never-ending flood of doom and gloom and desperately upsetting news? You must be desensitized, thick skinned, tough as nails or extremely carefree to be able to consume what the media throws at you and not end up at least taking some notice of the never-ending cascade of end of times news stories.

If global warning isnt going to get us, an asteroid isnt going to strike, a plague thawing from Siberian ice sheets about to scythe us down, it will be the civil war in America, the collapse of the dollar, peak oil, no oxygen in the oceans, the 1%, a pantheon of local and international politicians, terrorists, dirty bombs and perhaps the much predicted second coming itself that will holocaust.

Its not surprising that there is a whole demi-monde of enterprises supplying the salve to an anxious audience.

A one years worth of food supply for four people can be yours for only $5,000.

Not many people take their end of the world survival that seriously and it would make for a tricky storage problem for a city dweller, who might have to sacrifice their second bedroom or all available closet space to have such reserves close at hand. So for many, the answer is to stick gold in a sock, as the only ticket out of trouble after the mobs are marauding after the plague-carrying asteroid has struck.

Sadly, this is a bad miscalculation, as many sad cases discovered during the second world war. A gold coin might buy you a bar of soap or nothing at all if the nightmare scenario some are delirious about were to strike.

Gold is not good for much in extreme circumstances.

If you are going to go down this road of planning for the worst you need to think in terms of gradients.

Level 1. Economic dislocation

Bitcoin, gold, silver: If you lay this in for such an outcome, when it strokes all these instruments will spike. In a 2007-2008 crisis the key issue is counterparty risk. Bitcoin (BTC) and platinum group metals (PMGs) are a good way of keeping your assets out of the hands of counterparties that might implode. Bitcoin is faster to transact and easier to hold than gold and silver but it makes sense to hold some of all.

Level 2. Personal dislocation

Bitcoin: Need to bug out, because the walls are closing in? Bitcoin is the way to go. Taking much gold through the airport is not going to work.

Level 3. Widespread war

Bitcoin, gold and silver: Silver is probably a favorite here because silver, especially silver coins are great for small transactions. Gold is too high value for most transactions and flashy. Bitcoin is useful because it can work globally and is an easy carry.

Level 4. The losing side of widespread war

Bitcoin and some silver: The risk of being plundered or having it appropriated is high, so once again BTC comes out on top.

Level 5. The Big one

As the nuclear winter falls, the plague ridden zombies make their final onslaught as the aliens black smoke sweeps all, there is probably no point in preparing.

Yet if you want to prepare, bags of old silver dimes, a bag of 1/10oz gold eagles and an SD card with bitcoin on it, is the way to go.

Like almost all predictions, doom-laden predictions at some time might prove right enough that you are happy you have 1% of your portfolio positioned for a ghastly emergency. The worse that emergency would get the higher the value of that small chunk of your portfolio would become.

It is not necessary to have half a ton of silver in your basement (approximately $500,000) but if the future of mankind is troubling you, it might make sense to sock away some silver, gold and bitcoin if that buys you some peace of mind. Peace of mind is after all a big fat dividend that pays out all year.

-

Clem Chambers is the CEO of private investors websiteADVFN.com and author of 101 Ways to Pick Stock Market Winners and Trading Cryptocurrencies: A Beginners Guide.

In 2018, Chambers won Journalist of the Year in the Business Market Commentary category in the State Street U.K. Institutional Press Awards.

Original post:

Bitcoin, Gold, Silver And Armageddon - Forbes

Bitcoin (BTC-USD) has been in a correction since late June. Prices below US$8,000 have been anticipated and are now reality. So far, the fourth quarter has not (yet) brought any larger recovery. Instead the downtrend is still intact. However, it seems that the correction is in its final stage and Bitcoin's remaining downside risk is rather small compared to the upside potential.

In the big picture Bitcoin is still stuck in a bear market since December 17th, 2017. The strong rebound in spring topped out at US$13,887 on June 26th, 2019, and reached the 61.8% fibonacci retracement of the previous wave down from US$20,000 to US$3,200.

As expected, since this year's high point the prices for Bitcoin have dropped significantly over last five months. In the last four weeks, Bitcoin prices have not been able to break free from the downtrend channel, which has been intact since the end of June. Rather, prices plunged significantly lower into the early-mentioned buying zone between US$6,200 and US$8,200. With the new low at US$6,515, all low-points in recent months have been clearly undercut. Therefore, the medium-term downtrend is still intact.

Nevertheless, there has been a bounce in the last 12 days, which has led to a price increase of just around US$1,400 (up 21.5%) to US$7,865. So far however, the bulls have not been able to defend these price gains and Bitcoin is currently trading around the middle trend line within its downtrend channel around US$7,300 and US$7,400.

Source: Tradingview

On the weekly chart, the current downtrend oha forced prices below the uptrend channel established since the beginning of February. At the same time, prices have been approaching the even more important uptrend line which had been established since autumn 2015. Basically, this trend line represents the quantum leap from three-digit to five-digit Bitcoin prices. Ideally, this trend line should hold!

However, the move below the 61.8% Fibonacci retracements at US$7,231 has already activated the next lower 78.6% retracement at US$5,424. Also below the four-year uptrend line sits the next support zone between US$5,700 and US$6,200.

On the other hand, the stochastic oscillator is oversold and has not confirmed the recent lower low which indicates a first sign of positive divergence and a potential trend-change.

Overall, the correction on the weekly chart already seems to be well advanced. The bears are face a very strong cluster of supports. The turnaround is therefore within reach, but could be delayed one more time with a final price slide below the psychological number of US$6,000. In any case, prices below US$7,500 offer a good medium and long term opportunity as the risk/reward ratio becomes more and more favorable. Contrarian investors are therefore in accumulation mode, because Bitcoin has reached a promising buying zone.

Source: Tradingview

On the daily chart, Bitcoin currently trades around the middle trend line of the larger downtrend channel which is in place since the end of June. Despite the rapid recovery in the last week of November, a turnaround can not be confirmed yet. The long wick of the daily candle on November 25th however looks potentially like a trend reversal!

Another test of the important 4-year uptrendline as well as those recent lows in the range of US$6,500 to US$6,800 US dollars would be conceivable within the next few weeks. Should the uptrendline hold there (ideally with a slightly higher low than in November), a very important piece of the puzzle would be in place. Alternatively, there will be a final sell-off that might take advantage of the full downtrend channel and could push prices below US$6,000.

In summary, the daily chart is neutral. The chance for a successful double low in the range of US$6,500- US$6,800 is undeniable but not yet confirmed. On the other hand, if the four-year uptrend line does not hold, Bitcoin should at least test the support zone between US$5,700 and US$6,200.

Source: Barchart

The Bitcoin Future started trading on December 17th, 2017. Back then, it was already clear that this introduction of Bitcoin Futures would pierce the Bitcoin bubble (the first bubble after the financial crisis of 2008). Now, Christopher Giancarlo, former chairman of the US Commodity Futures Trading Commission (CFTC), has confirmed this in an interview.

Nevertheless, the CoT report published on Friday evenings provides a good overview of the positioning and is always helpful in analyzing the Bitcoin market. This time around, the CoT report was released in the current week due to the Thanksgiving holiday.

All in all, over the course of the last five-month the correction led to significant shifts in the derivatives market. Above all, however, the open interest has fallen significantly, indicating overall falling activity. Interestingly, however, is the behavior of the so-called "Other Reportables", which were able to successfully play the movements in Bitcoin with a contrarian approach. The group "Other Reportables" is not listed individually in the normal cot report and represents all reportable traders who can not be assigned to one of the three groups of producers, swap dealers or money managers.

The "Other Reportables" have reversed their short position from 1,500 to almost 250 long contracts in the last five months. Obviously, the low point at US$6,515 was not yet low enough for them to ramp up their long position to similar levels like in end of march (back around 500 contracts). From this we could concluded that Bitcoin still further need for correction and that the support zone around US$ 6,000 US dollar might have to fall too. In that case however, the weak hands would finally throw in the towel, while at the same time the group of "Other Reportables" could then expand their long position easily to over 500 contracts.

Overall, the analysis of the current CoT report provides a rather neutral signal. Although the setup has improved significantly in the last two months, the successful players have not yet moved sustainably to the long side.

Bitcoin Optix as of December 5th, 2019. Source: Sentimentrader

Crypto Fear & Greed Index as of December 5th, 2019. Source: Crypto Fear & Greed Index

Crypto Fear & Greed Index as of December 5th, 2019. Source: Crypto Fear & Greed Index

Parallel to the falling Bitcoin prices, the mood among crypto investors has also slipped further and further into the basement. While Sentimentrader's Bitcoin Optix currently only identifies a slightly exaggerated pessimism, the much more substantiated "Fear & Greed Index" has recently reached level of deep panic and fear. The all-time low for this indicator was seen in August and almost exactly a year ago at slightly below 10. The capitulation phase in the cryptosector could therefore still become a bit more painful.

In summary, there is already a high level of anxiety. From a contrarian point of view, this is a buy signal. Once the "Fear & Greed Index" falls to values between 8 and 15, the bottom and thus the turnaround is likely to be reached.

Source: Seasonax

Based on the evaluation of the last nine years, Bitcoin has developed a fairly clear seasonal pattern. Statistically, the 4th quarter is generally slightly positive. However in this year Bitcoin has not shown any strength in the 4th quarter so far as BTC-USD is trading around US$500 lower than in early/mid-October. Nevertheless, the seasonal component is slightly bullish until early January.

Source: XE

Currently, one Bitcoin costs 5.07 ounces of gold. In other words, you have to pay 0,2 Bitcoin for an ounce of gold! Overall, gold has appreciated almost 39% against Bitcoin over the past four months! In the big picture, Bitcoin has been in a downtrend against gold since December 2017. If the Bitcoin/Gold-ratio also falls below the support of 5 ounces per Bitcoin, the lows from about one year ago should likely be targeted, meaning 3 to 3.5 ounces per Bitcoin.

Generally, one should be invested in both asset classes. The recommended allocation in precious metals (primarily physical) should be at least 10% and a maximum of 25% of ones total assets. In cryptos and especially in Bitcoin investors should hold at least 1% and a maximum of 5%. If you are very familiar with crypto currencies and Bitcoin, you can individually allocate higher percentages in Bitcoin. For the normal investor, who of course is invested mainly in equities and real estate, holding 5% in the highly speculative and highly volatile Bitcoin is already quite a lot!

Bitcoins correction has been going on since the end of June and still does not seem to be over. Both, the futures market as well as sentiment indicate that it will take another low near or even below US$6,500.

At the same time, however, in the larger picture the opportunities clearly outweigh any concern. Bitcoin has retreated textbook like into our defined buy zone and now provides a contrarian buying opportunity. Anyone who has been patiently waiting for these low prices with staggered buy orders should now be invested at least 50%. Ideally, you still keep some powder dry in case Bitcoin overdoes it on the downside and temporarily undercuts all support. The probability for this is at maximum just 25%. Logically, a second leg in the range around US$6,500 to US$6,800 and then the turnaround is more likely. In any case significantly higher prices until early summer 2020 are to be expected.

Overall, Bitcoin has a remaining risk on the downside to US$5,000, while on the upside, the resistance zone between US$12,500 and US$13,800 is the measure of all things. If Bitcoin can sustainably move above this resistance zone next year, new all-time highs are only a matter of time. Prices below US$5,000 on the other hand, give rise to legitimate doubts as to whether Bitcoin will prevail at all.

Disclosure: I am/we are long BTC-USD. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Originally posted here:

Bitcoin - Correction Soon To Be Over - Seeking Alpha

Cybersecurity researchers warn that paying Bitcoin BTC to retrieve files locked by the prolific Ryuk ransomware may still result in data loss.

This means thatRyuks latest victims are stuck between a rock and a hard place. If they refuse to send their attackers Bitcoin, theyll lose access to their data altogether, but if they pay, the hackers will provide them with a decryption tool that doesnt work.

Software company Emsisoft told Hard Fork that the attackers themselves are responsible for breaking their own encryption tool with an update.

Obviously, were hoping to get the word out about this as quickly and widely as possible so that affected organizations can avoid data loss, said Emsisoft via email.

The firm explained that in one of the latest versions of Ryuk, attackers made changes to the way it calculates the length of certain files. This has created unexpected consequences during decryption.

As a result, the decryptor provided by the Ryuk authors will truncate files, cutting off one too many bytes in the process of decrypting the file, Emsisoft said in a blog post. Depending on the exact file type, this may or may not cause major issues.

Researcherssaid that in the best case scenario, the byte that was cut off is unused, therefore unnecessary, and could even be decrypted just fine.

However, in virtual disk type files (such as VHD/VHDX), as well as many database files (such as Oracles), that last byte stores important information. Its common for larger, high-value target networks to feature these types of files.

This means that those files will be damaged by Ryuks decryption tool, and will fail to load properly even after theyve been unlocked by the tool provided by the attackers.

Ryuk has hit hospitals, state-owned oil refineries, nursing homes, schools, private corporations, and government institutions across the world over the past year, demanding hundreds of millions of dollars worth of Bitcoin in exchange for access to critical computer systems.

Unfortunately for those who find themselves struck by Ryuk, theres currently no way to retrieve files without paying up. Previous analysis run on the malware shows that perps scale their Bitcoin ransoms dependant on the size of the target.

As such, Emisoft advises Ryuk victims to make copies or backups of any data thats been encrypted, especially considering that the decryption tool provided by the attackers will reportedly delete files it thinks have been properly unlocked.

That said, creating regular backups of data is advisable in any sense, as it will dampen the effect of being hit by ransomware in general.

It should be noted that while Emsisoft has released many free decryption tools for other ransomware strains, the service it offers to Ryuk victims is a paid one.

A final word of advice: prior to running anyransomware decryptor whether it was supplied by a bad actor or by a security company be sure to back up the encrypted data first. Should the tool not work as expected, youll be able to try again, said Emsisoft.

Published December 10, 2019 13:28 UTC

Original post:

Bitcoin-hungry hackers broke their own decryption tool, analysts warn - The Next Web