BitHappy — The Next Generation of Bitcoin Ecommerce is here

BitHappy, a new bitcoin browser brings both digital currency and ecommerce together on the same page. The platform calls itself the first bitcoin browser in the world which enables people and businesses to sell things online for bitcoin. Unlike other ecommerce platforms, BitHappy allows anyone to list the things that they want to sell online and accept money in the form of bitcoin from their customers.

The simple, easy to use BitHappy allows individuals and retailers to sell their goods and services online to anyone across anywhere in the world. Selling on BitHappy is no rocket science. Sellers on the platform can easily list their products by adding a picture, few lines of description, any social links, website url related to the product and its price in local currency. BitHappy automatically converts the price in fiat currency to its equivalent in bitcoin.

Apart from being an open ecommerce platform, BitHappy also doubles as a point of sale application that can be used for scanning barcodes on the products and accepting payments for the same in a brick and mortar setting. When it comes to buying products on BitHappy, it is as simple as listing products for sale. One can search for sellers/businesses in their neighborhood by using BitHappy application. They can choose what they want to buy and add it to the cart. In the end they can proceed to check out and pay for all the items with bitcoin. The application generates a unique ID and corresponding QR code to scan and pay the bill with bitcoin. BitHappy comes integrated with Mycelium bitcoin wallet and it can be readily used to store bitcoin and pay using them.

BitHappy goes beyond ecommerce. It can be readily used to collect microdonations and raise funds for charitable and social causes. It is also ideal for individual craftsmen, artisans and entrepreneurs who are interested in selling their products without having to go through the hassles of setting up a shop, creating a bank account and more. According to the website, BitHappy does not charge any transaction fee for purchases made over the platform, making it even more attractive to sellers.

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Now that bitcoin is once again trading over 300 many feel there is good reason to hang onto a long position in the currency. But if you have bitcoins, wouldn’t it be great if you could hold onto them while simultaneously using them to pull in even more profit? First Global Credit, a digital economy investment company is hosting a trading competition on their platform to allow new traders to experience their services and capture the profit opportunities available in the worldwide stock markets using the value stored in their bitcoins. Traders interested in pitting their skills against other traders can sign up now for a free demonstration account to familiarize themselves with the platform so they will be ready for THE 100 BITCOIN TRADING COMPETITION, which begins on November 23, 2015.

COMPETITION DETAILS

The competition, runs on First Global Credit’s paper trading platform. The platform simulates both stock market trading as well as trading bitcoins against fiat currencies.

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Each player is given a competition account loaded with 100 practice bitcoins and has free rein to choose from over 200 stocks and 4 fiat currencies to trade over a period of four weeks.  To spice up the competition, those 100 bitcoins can be leveraged up to 5 times their value on the Stock Trading Platform and twice their value on the Currency Switch Platform leaving room for big wins and big reversals too. Competition profits are returned to the contestants account in bitcoins and at the end of the competition the three traders with the most profits will win a live fully funded trading account and entry into First Global’s Star Trading Program. Each live prize account will give the winner the ability to trade the value of up to 10 bitcoins worth of stock and currencies. But as time goes on, members of the Star Trading Program make more money while their ability to trade more stock increases and they receive more profit.

The first winner of the victorious three will be the trader who makes the most profit from stock trading on the competition platform. The second winner will be the person who makes the most profit from trading bitcoins against fiat currency. The final prize winner will be talented trader who has the largest bitcoin profit from trading both stocks and currencies. And that is one of the unique points of the First Global Credit platform. While deposited bitcoins are used as margin to finance stock trading, they can simultaneously be traded against fiat currency without closing stock positions.

The paper trading platform mirrors the live platform using real time market prices and the same fees, so the competition emulates a real trading environment. Marcie Terman, Communications Director commented “There’s another reason First Global Credit is interested in finding the best and brightest bitcoin traders. Competition winners will join winners from previous competitions in our Star Trader Group.” She continued, “Post competition, as Star Traders amass profits over time and there will be additional benefits that we will bring on line in 2016.”

PREVIOUS BITCOIN COMPETITION WINNERS

Aaron Welton, a winner from August 2015, is a consultant from the United Kingdom who had no prior experience in trading stocks and currencies.  This was Aaron’s second competition with First Global Credit.  At the end of the four week competition, Aaron had grown his original portfolio investment to a profit of approximately 624 bitcoins.  “The prize was an incentive both times I entered.” Aaron said in an interview following the August competition.  “I was disappointed with my performance in the first competition so upon entering the second time I wanted to be prepared. I understood trading Altcoins, I wanted to have the same level of knowledge about stocks and stock trading.”  Read more…

Also declared a winner in the August competition was Barry Goers, a professional hockey player from the United States.  Barry posted a profit of approximately 140 bitcoins during the four week period.  Barry is extremely positive about the future of bitcoins and sees the potential of using them to generate a return. He says, “It is very important that bitcoin has all of the capabilities of other currencies. Now, people can actually invest with their bitcoin, and really use it to grow their money instead of simply hiding it in a cold wallet or something.” Read more…

Visit the First Global Credit Facebook page or follow them on Twitter to keep tabs on the best players and post your comments about how your trading strategy is going.

Full details of the competition rules are available on the First Global Credit website (add URL). Potential contestants are encouraged to create a paper trading account immediately to begin practice trading prior to the actual competition start date by visiting the  competition page and clicking on the registration link.

There have been multiple mentions of bitcoin ending up in a deflationary spiral on the long run. At a bird’s eye view for a layman, it sounds true. However, if one takes some time to study bitcoin and understand it in details, it will become obvious that the digital currency is quite different from conventional fiat currencies, and the deflationary spiral that seems perfectly applicable to fiat currency at certain circumstances doesn’t apply to its digital counterpart.

For those who do not know about deflationary spiral, it is an economic concept which states that continued deflationary trend will lead to reduced prices, increased production and increased value of the currency with respect to the purchasing power. The increasing value of currency, combined with reduced prices will lead to a fall in the circulation of currency and ultimately its demise.

Theoretically, those who argue that bitcoin will go down the deflationary spiral, believe that with the number of bitcoins already fixed, its value over a period of time will be proportional to its demand within the same timeframe. With everyone believing it, they will end up hoarding bitcoin expecting the value to rise in the future. Mass hoarding will take bitcoin out of circulation leading to its collapse.

However, the rules that apply to fiat currency do not apply to bitcoin as it is fundamentally an asset compared to traditional currency which is based on debt. Bitcoin is a highly divisible currency and with an increase in the value of a bitcoin increases, the amount of bitcoin needed for transactions will reduce proportionally. At the same time, strengthening economy leads to stronger bitcoin in the midst of deflation, which is also good for it. The progressively increasing difficulty in bitcoin mining and reduction in rewards are designed to counter sudden deflationary effects.

Only 21 million bitcoins are ever going to be mined and this knowledge among the bitcoin users leads to controlled deflation without causing the deflationary spiral.

Key Highlights

  • The Bitcoin price recently corrected higher after declining close to the ¥1800 level.
  • It looks like the price has completed the correction phase and may start trading lower once again.
  • There was a major support trend line formed on the hourly chart (price feed from BTCChina), which was broken to ignite a downside move.

Bitcoin price rebound from the ¥1811 low is likely completed and it may start to move lower if sellers gain momentum.

Bitcoin Price Weekly Analysis

Retest of ¥2000 Likely?

The Bitcoin price managed to gain bids near the ¥1800 support area and managed to recover some ground. However, it looks like the recovery is now over and the price may start to move lower once again. The price recently tested a monster confluence resistance area of ¥2200 where the 100 hourly simple moving average (MA) along with the 50% Fib retracement level of the last drop from the ¥2550 high to ¥1811 low prevented the upside. There was a bullish trend line formed on the hourly chart, which was breached recently to encourage sellers to take the price lower.

There is contracting triangle pattern forming as well (price feed from Huobi), which might act as a catalyst for the next move. If sellers gain control and manage to take the price below the triangle, then a downside move towards ¥2000 is possible.

Bitcoin Price Weekly Analysis

Looking at the indicators:

MACD – The hourly MACD is mostly flat is it looks like setting up for the next move that may be a bear leg.

RSI (Relative Strength Index) – The hourly RSI below the 50 level, which is a sign that buyers are losing grip.

On the upside a break and close above the 100 MA is needed if the price has to trade higher.

Intraday Support Level – ¥2000

Intraday Resistance Level – ¥2200

Overall, a break and close below the highlighted triangle may be a signal for a sell in the short term.

 

Charts from BTCChina and Huobi; hosted by Trading View

Key Highlights

  • The Rubycoin price is trading with the bullish bias, but facing a major hurdle near 0.000360BTC.
  • The stated level represents a crucial resistance that might ignite a move lower.
  • A support trend line is formed on the hourly chart (data feed from Bittrex), which is likely to act as a buying zone in the near term.

Rubycoin price is under the bullish pressure, but buyers have to clear 0.000360BTC if they have to take the price higher.

Trend line support area

The Rubycoin price recently formed a nice bullish structure for a move higher, and also followed a bullish trend line on the hourly chart that acted as a support every time the price moved lower. Looking ahead, if the price corrects lower, then it may find buyers near 0.000330BTC as the highlighted bullish trend line and the 38.2% Fib retracement level of the last leg from the 0.000250BTC (Low) to 0.000383BTC (High) is aligned near it.

RubyCoin Price

However, there are some concerns as well, including the fact that the hourly RSI is below the 50 level (data feed from Bittrex), suggesting that buyers are struggling to hold the momentum.

If we have a look at the price feed from Cryptsy, then we can clearly make out that there is a monster resistance building near 0.000360-380BTC. If sellers manage to gain control, there may be a downside reaction in the near term. In the stated scenario, we need to see how the bulls react around the highlighted trend line and support area.

RubyCoin Price

Looking at the indicators:

MACD – The hourly MACD is favoring sellers and pointing towards a change in the trend moving ahead.

Hourly RSI – As mentioned earlier, it is below the 50 level, which is a negative sign for buyers.

Intraday Support Level – 0.000330BTC

Intraday Resistance Level – 0.000380BTC

 

Charts from Cryptsy and Bittrex; hosted by Cryptrader

Key Highlights

  • The Litecoin price after declining close to $2.90 managed to find bids and corrected higher.
  • There is a contracting triangle pattern forming on the hourly chart, which is likely to pave the way for more gains.
  • The price is placed above the 100 hourly simple moving average (price feed from Bitfinex), which is a positive sign.

Litecoin price may move a bit higher from the current levels, but it might find sellers around an important pivot area of $3.80.

Litecoin Price Weekly Analysis

How important is $3.80 as a Resistance?

We mentioned in one of the previous analyses that the bulls appeared around $2.90 to prevent the downside and pushed the price higher. The price is currently moving higher, but it won’t be an easy ride for the buyers, as there are many hurdles on the way up, starting with the 23.6% Fib retracement level of the last fall from the $5.64 high to $2.99 low. However, the most critical resistance is around $3.80, which represents a major pivot area as highlighted in the chart.

When we look at the price feed from Bitfinex, then we can note a lot of positive signs. First, the price is above the 100 hourly simple moving average (MA). Second, there is a contracting triangle pattern forming on the hourly chart, which is likely to break moving ahead and open the doors for more gains.

Litecoin Price Weekly Analysis

Looking at the indicators:

MACD – The hourly MACD is mostly flat, suggesting a break is likely in the near term.

RSI – The hourly RSI is above the 50 level, pointing towards an upside move.

If the price moves lower, then the 100 MA may act as a support area.

Intraday Support Level – $3.15

Intraday Resistance Level – $3.80

In short, a break above the highlighted triangle may take the price higher moving ahead.

 

Charts from Bitfinex and HitBTC; hosted by Trading View

Key Highlights

  • The Dogecoin price after a minor correction found resistance around 40.0 Satoshis and is currently trading in a tiny range.
  • The price feed from IO clearly suggest that there is a chance of the price heading towards 45.0 Satoshis.
  • There is also a bullish trend line formed on the hourly chart, which is likely to act as a catalyst for the price.

Dogecoin price might clear 40.0 Satoshis in the near term and trade towards the next barrier i.e. 45.0 Satoshis.

5 Waves Up?

There was some relief for the Dogecoin price recently, as the bulls managed to take the price higher towards 40.0 Satoshis. However, there was a solid selling interest noted around the mentioned area that prevented additional upsides. The price is currently consolidating in a tiny (as can be seen from the price feed provided by HitBTC).

Dogecoin Price Weekly Analysis

There is a major support building around 35-36.0 Satoshis, as there is a confluence of the 100 hourly simple moving average (MA) and the 38.2% Fib retracement level of the last leg from the 29.0 Satoshis (low) to 40.0 Satoshis (high).

Furthermore, the most important point is that the price is likely forming a 5-waves up pattern on the hourly chart. This is not all, as there is a bullish trend line formed as well, which is acting as a support for the price and pushing it higher.

Dogecoin Price Weekly Analysis

Looking at the indicators:

MACD – The hourly MACD is placed in the bullish zone and it may support the bullish view in the near term.

RSI – It has moved above the 50 level, suggesting more gains ahead.

Intraday Support Level – 35.0 Satoshis

Intraday Resistance Level – 40.0 Satoshis

Overall, the price may head higher towards 45.0 Satoshis as long as it is above the highlighted trend line and support aread.

 

Charts from HitBTC and CEX.IO; hosted by Trading View