What Is in Store for Cryptocurrency In 2018?

There were many predictions by so-called experts in 2017 and no one was able to predict it correctly. Most thought Bitcoin was a bubble that was about to pop and others predicted moderate increases up to $4,000. No one expected it to get to around the $20,000 and even though it has dropped, it has still settled around the $15,000 mark. What the mainstream media seem to be forgetting are the huge returns it has made over the year than the occasional profits taking. Anyone with a Bitcoin Wallet with a sizeable amount held in it over the whole year made a fortune and the same will happen the year ahead.

In 2018 we are going to see a “regulation war” as Governments will try to control the decentralized product. It is going to be a very difficult task to control a Bitcoin Wallet and one which is doomed to fail. Rather than fighting the crypto revolution, they should be embracing it. It will only take one country to adopt their own state cryptocurrency and the rest will have to follow. There have been many rumors that China and Russia are going to release their own cryptocurrency. If this happened, the 2017 boom in cryptocurrencies will look like a drop in the ocean.

By the end of 2018 Bitcoin may not be the number one cryptocurrency. The Achilles heel of BTC is the high financial transaction costs and unless this is resolved it gives others a competitive edge over it. That is why we are seeing the rapid rise of Bitcoin Cash as it is far cheaper and should be a solid investment for the year.

Ripple has the possibility to become the world’s leading cryptocurrency in 2018 and has pushed Ethereum into third place. With the banks and hedge funds now dipping their toes into the crypto market, these two digital currencies are their preferred choice. That could send the prices skyrocketing and transform the sector.

In 2018 expect ICOs to be in the news a lot as these have transformed the venture capital sector. This area of cryptocurrencies is going to be under a lot of scrutiny this year and it faces an epic battle with regulators. Expect many ICOs to fail but the ones that make it will make the initial investors extremely rich if they are brave enough to hold onto it for the next few years.

It is not just the financial system that is going to be revolutionized in 2018 as the technology behind cryptocurrencies (the Blockchain) is going to have a major impact on countless industries. The main sectors affected will be consumer goods and retail, democracy, and government. higher education, manufacturing, technology, telecommunications and media, transportation, resources, and healthcare.

Conclusion

2018 is going to be a roller coaster of a ride and as the worldwide economy gets worse, cryptocurrencies will benefit. The regulation battle is going to get dirty but due to the decentralized nature, it should be able to survive the war. We are going to see inflation get out of control in many parts of the world due to the collapse in fiat money. This will escalate the economic crisis and the solution to it is cryptocurrency. It only takes one government around the world to realize this and the revolution will make the boom of 2017 look like a tiny blip on the chart.

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It’s no doubt that it IOTA has been on a rough patch with sellers pushing prices lower. However, after that close above $4.2, just buy IOTA. Yes, and while at it aim for $5.5.

Of course, after last week’s higher high, retracements and break outs, I was hoping LTC to spice up after waking up from a 2 week slumber but it didn’t.

Instead we are seeing a series of lower lows and that is okay since any reversal from $255 is a retest which is pretty inviting for buyers.

Let’s have a look at other alt coin charts

AS NEM BUY PRESSURE STUTTER FOCUS SHIFT BACK TO $1.35

NEM correction towards $1.35?
XEMUSD 4HR Chart for January 8, 2018

Prices are pretty good and for NEM buyers, there is no reason to complain.

Judging from last week-which by the way ended up bullish against my expectation, looking for buying opportunities is after all a profitable activity and that is what we should be gearing at this coming week.

At the moment though, we there is that conspicuous 3-bar double reversal pattern, an evening star pattern right at the second Fibonacci extension line at $1.76.

I’m of the opinion that this level is a good trigger line for bulls especially if there is convincing dip and reversal leading to close about this obvious resistance line.

Like last week, my potential and ideal buy zone is at $1.35 as we look to trade that break out on January 3.

DASH IS YET TO CLOSE ABOVE $1300

DASH Buyers
DASHUSD 4HR Chart for January 8, 2018

We can go on and on about the effect of $1300 and how liquidation of DASH arises every time price action tests that level.

On January 6th, all talk was about the need of DASH buyers to push above $1300-CONVINCINGLY! I’m not seeing nothing of the sort to warrant a break out trade which if it does happen-bearing in mind the long consolidation, the blast would be “loud” and clear!

From my perspective, the minor support trend line is proving important in the short term and any break below means we have to wait for entries from key Fibonacci retracement levels.

BUY IOTA

Buy IOTA
IOTUSD 4HR Chart for January 8, 2018

For the first time in more than 12 days, IOTA buyers are trending above $4.2!

This qualifies to be a break out trade and as such, we should be looking for enter this trade.

Of course, any retest of $4.2 is another buying opportunity.

CLOSE ABOVE $430 INVITES MONERO BUYERS AIMING FOR $500

Monero close above $400
XMRUSD 4HR Chart for January 8, 2018

By week ending January 7, Monero buys had put in a lot of minutes and pumped prices $114 towards the main resistance at $400.

Now, here’s the deal. See that bear candlestick reversing right from the $400 following long lower wicks from late January 6? Those are pointers and signal a potential correction towards January 5 lows of around $350.

Regardless of the sell signal in the weekly chart, I shall be recommending buys at $350 as it coincides with the 50% Fibonacci retracement level anchored on last week’s high low.

Conversely, any blast above $430 cancels this minor correction and ushers in a new wave of strong bull pressure. Either way, our ultimate target is December 20 highs of $500.

LTC BREAK OUT TRADE: LOAD UP AT $255 RETEST

LTC Break out trade
LTCUSD 4HR Chart for January 8, 2018

You know what? All LTC traders should be thankful of the current retracement despite the strong LTC bull candlestick on January 6.

It’s typical of break out trades bearing in mind that the actual break out happened after that blast above $255 and as it is, these lower lowers is merely a retest which is cool.

I went ahead and placed a Fibonacci tool between last week’s high low and guess what? The $255 falls right at the 50% level and that is where I’m recommending we go long even if you did buy above $290.

 

All charts courtesy of Trading View and these are my own views. I’m not a signal provider so do your own due diligence first.

Let me know what you think!!!

You will see in the headlines that Bitcoin is a bubble and that you should not buy Bitcoin because it is about to burst but this could not be farther from the truth. What the mainstream media are not paying any attention to are the huge stock market and real estate bubbles. When the price of BTC drops dramatically the world economy does not come to a standing still halt as has been proven since 2008. When the stock market or real estate markets crash it causes great economic disasters that can take years or even decades with the size of the current market to fully recover from.

It is not just the stock market and real estate bubbles that once pop will bring the house of cards down with it. The most worrying sector is the derivatives market which has never been so large before. These financial instruments have brought around great depressions and used to be banned until Bill Clinton made them legal again. The bonds market is also another bubble on its way to bursting and if this happens hyperinflation will be one of the biggest problems faced by governments. History shows us that this all will come to fruition, it is just a matter of when.

The question is what will happen to Bitcoin and Cryptocurrencies once the financial collapse takes place. The signs are that when economic circumstances start to deteriorate the price of Bitcoin rises. A prime example of this is during the Cyprus and Greece bailout which saw the price of BTC rise considerably during this period. With banks stopping access to cash in ATM machines, Bitcoin was the perfect solution to be able to store it safely out of the banks and Governments’ hands.

What also happens during a depression is interest rates skyrocket and start to see hyperinflation. This will mean it is extremely hard to get finance from banks and the cost can make it unsustainable. The ICO market is a perfect solution to this problem and as the banking sector suffers, ICOs will boom. More companies will look to these as a cheap way to raise money and will create their own cryptocurrency.

If the derivatives market crashes, there is not enough money to solve it as the sector is over 10 times the size of the global banking sector. Governments will need to find new solutions for money and finance due to total failure of the banks. There are two options when this happens. The first is world war 3 and the second is adopting the Blockchain and Cryptocurrency to provide a fairer, more transparent financial system that rewards its users, and not steal from them.

Conclusion

It is certain that during our lifetimes the financial system will need to be completely revamped. When this takes place it is going to be one of the most dangerous in our history. Luckily we have a solution and it is called cryptocurrency, it just needs one nation to fully adopt it as a national currency and then the other will follow.

On December 14th of 2017, Acute Angle Cloud White Paper was released on their website. It’s said that this is an innovative project based on blockchain technology. It aroused heated discussion when the hardware, Acute Angle PC, was launched on their website on the 12th. Acute Angle Cloud is reported to establish a globally distributed IaaS platform, which addresses the shortcomings of Web2.0 and constructs cloud service infrastructure of Web3.0.

Web2.0 is known to have many disadvantages: hackers attacking the central server, the same document multiplies on the internet and takes up a lot of space, a lot of computers have over 60% idle hard disk, a huge amount of resources are wasted, the cost of using cloud services is still quite high, risk of spamming, fraud and virus attack, and lack of privacy, etc.

With Web1.0, servers were built by website developers. If the server is shut down, the website can’t be accessed. And with web2.0, you don’t need to build your own server. Even a startup company can offer quality content and service by renting a cloud server at the cost of a few thousand dollars. The emerging of the Bitcoin network and IPFS (InterPlanetary File System) will bring about a brand-new infrastructure.

As technologies evolve, Web3.0 is coming to us. The arising of Bitcoin enables the internet to carry on more value and trust, and blockchain technology will bring about a bigger upsurge of web3.0, Internet of Everything. It will change the mode of storage and transmission that’s been used for 20 years in the data aspect. Internet of Everything allows users to access a wide variety of applications without expensive equipment. Smart cars can be controlled from a webpage, revenues can be received as soon as a document is saved online, Apple Apps can be adopted in Android systems while maintaining high speed, fast computation, security and permanent web use.

Acute Angle Cloud is a globally distributed IaaS platform realizing global distributed cloud computing based on Acute Angle PC, Acute Angle Chain and IPFS (Interplanetary File System). Acute Angle Cloud is the service platform of web3.0. Estimates show that the service cost of Acute Angle Cloud is only 1/10 of current cloud services. It is a pioneering system solution, more efficient and reliable.

acute angle

To ensure safety of the system, traditional centralized servers perform a lot of backups which lead to vulnerability and redundancy. IPFS is a technological solution that generates a unique fingerprint for a document using Hash algorithm and the entire system will delete files with repeated fingerprints before saving the Hash value to the blockchain. It’s safe and permanent while reducing redundancy of the integrated system. P2P proximity transmission can save 60% bandwidth resources and improve the speed several times.

Acute Angle PC, as the terminal hardware of the entire system, can be included in the Acute Angle Chain system. It can provide comprehensive and sustained IaaS service for Internet business by providing idle resources. Rewards obtained from mining can be used for acquiring Acute Angle Cloud service.

acute angle

Acute Angle Chain a decentralized public blockchain platform, which uses smart contracts to motivate users to provide idle hard disk, bandwidth, hash rate, etc. To provide the cloud service. Motivated by Acute Angle Chain, the entire system would have permanent impetus. Everyone is a contributor and in return gets rewarded for it. It constructs a highly efficient, safe, stable and permanent globally distributed IaaS service platform.

acute angle

Acute Angle Cloud White Paper now can be downloaded from Acute Angle Cloud website. For more details, please visit the official website: www.AcuteAngle.com and join our telegram channel: https://t.me/acuteanglecloud

 

According to the United States Centers for Disease Control and Prevention (CDC), overdose deaths involving prescription opioids were five times higher in 2016 than 1999. In that seventeen year period, over 200,000 Americans have died from opioid-related prescription overdoses. Every day, more than 1,000 patients are treated in emergency rooms and emergency departments for misusing prescription opioids.

One of the main reasons that the prescription drug crisis has gotten so bad is overprescription. One source notes, “Painkiller abuse is particularly on the rise in adolescents who mislead prescribing physicians.” The problem also exists with elderly patients and other legitimate prescription drug users, who sometimes use their access to opioids to supplement their incomes. The sad truth is that “Medicaid patients… can receive medications with a street value of up to $20,000 for a total out-of-pocket price less than $5 monthly.” With easy access and the ability to make a sizeable profit, it’s no wonder that prescription drug use is out of control.

Unfortunately, existing methods don’t do a good job of dealing with over-prescription. The CDC estimates that the U.S.’s total spend on prescription drug abuse is $78.5 billion a year. This includes healthcare costs, productivity losses, addiction treatment, and criminal justice involvement. But regulatory bodies have been unable to prevent overprescribing from happening.

One reason for this is the inadequacy of prescription tracking methods. The current system relies on trust–between the patient and his or her prescriber, between the prescriber and the pharmacy, and between the pharmacy and the patient. Handwritten, paper-based prescriptions can be easily forged, falsely signed, and altered. Doctors are often unaware that patients have seen multiple physicians in order to receive opioid treatment for the same problem. The entire system is in dire need of an overhaul.

Thankfully, one blockchain startup, BlockMedx, is in process of developing a proprietary platform that could stop the prescription drug crisis dead in its tracks. The platform gets rid of outdated handwritten prescriptions and provides a way for all parties to record an unchangeable history of prescriptions.

BlockMedx and the Advantages of a Blockchain Powered Prescription System

The BlockMedx platform runs on the Ethereum blockchain, which provided a cryptographically secure way to transmit prescriptions. The platform provides a way for physicians, pharmacies, and individual patients to interact on a purely electronic and trustless basis. This will ensure greater accountability and transparency for the duration of the prescription process.

Physicians, whenever they see a patient, will be able to access their own prescribing history in addition to the prescription history of the said patient. This is because, on the BlockMedx platform, each prescription is logged on the blockchain. So, when a physician needs to prescribe a drug, he or she will issue new prescriptions by filling out an electronic form. Using a unique verification method, the physician, and the physician alone will be able to sign and transmit the prescription. The issue will be in the pending state until BlockMedx signs the prescription on the blockchain. Once this is done, it is approved and added to the ledger.

Each pharmacy that uses the platform will be presented with a unique queue of approved prescriptions from physicians. The pharmacy will be presented the prescription information and can view the patient’s prescription history. This adds another layer of accountability, in addition to the physician’s ability to track patients’ histories.The pharmacy will have the ability to accept or reject each prescription in their queue. If a prescription is valid, an employee will sign a confirmation of the receipt, and then the patient can pick up the prescription. From beginning to end, the prescription history is logged on the blockchain, allowing third parties like government entities or regulators to better track and crack down on prescription abuses.

Each pharmacy that uses the platform will be presented with a unique queue of approved prescriptions from physicians. The pharmacy will be presented the prescription information and can view the patient’s prescription history. This adds another layer of accountability, in addition to the physician’s ability to track patients’ histories.

The pharmacy will have the ability to accept or reject each prescription in their queue. If a prescription is valid, an employee will sign a confirmation of the receipt, and then the patient can pick up the prescription. From beginning to end, the prescription history is logged on the blockchain, allowing third parties like government entities or regulators to better track and crack down on prescription abuses.

The entire platform operates with MDX tokens, from the prescription issue all the way to patient pickup. This enables a secure, electronic method of payment, creating accountability while also protecting individual identities. With these features, the BlockMedx platform is shaping up to be an exciting development that can forever change the way drugs are prescribed.

A prominent Iranian banker has come out in support of digital currencies. Masoud Khatouni, a senior member at Iran’s largest bank, has called for Bitcoin and other cryptos to be recognised and accepted into the nation’s banking system. According to Bank Meli Iran’s deputy for information technology and communications:

“Iran must formally recognise activities using digital currencies as they are currently shaping the future of banking. Banks themselves must also enter this field to use them.”

Khatouni’s stance is markedly different from other prominent bankers in Iran, however. The governor of the Central Bank of Iran (CBI) and their head of innovative technologies have both recently urged citizens to exercise great caution when dealing with digital currencies.

However, Khatouni believes that his nation could benefit from digital currency, particularly as they have a history of dealing with the burden of economic sanctions. He told prominent Iranian financial news source IBENA:

“The future of banking throughout the world is intertwined with digital currencies, which are entering the banks silently as most banks remain oblivious to their presence.”

The BMI official went on to state that there should be “no limitations” on the use of digital currencies. This, he believes, will allow companies to reap the benefits of cryptos with greater confidence and transparency. He proposed that the CBI should create a group entirely focused on integrating digital currencies into their banking practices. Such a department should then be used to determine regulations going forward.

“I ask central bank officials to refrain from creating restrictions for digital currencies by way of laws and regulations, because based on the current realities of the world, they have taken form and the Iranian people have also moved toward them.”

Despite the mixed signals coming from Iran’s banking sector, it appears that the nation is generally supportive of cryptocurrencies. In October last year, we reported on the Iranian central bank’s desire to see a cryptocurrency infrastructure developed for the nation. Nima Amirshekari, head of Electronic Banking at the Monetary and Banking Institute, said:

“CBI views it [Bitcoin] as something that can be controlled and does not see it as multi-level marketing or a pyramid scheme.” 

It’s believed that the Middle Eastern State are aiming to have a regulatory frame work for digital currencies setup by September of this year. How this will sit with the religious elements of the nation’s leadership remains to be seen, however. Member of parliament Mohammad Reza Pour-Ebrahimi believes that digital currency is against Islam. This sentiment was echoed as recently as last week in Egypt too. Counsellor of the Republican’s Mufti, Dr. Magdy Ashour told a local news source that Bitcoin was “not an Islamic concept”.

 

It has proven to be another difficult weekend for the Bitcoin network. With the number of unconfirmed transactions rising again, the scaling issues become more apparent. It is not the first time we see incidents like these occur either. Until Bitcoin scales, such problems will only become more common.Especially users with low-fee transactions will feel the brunt of these problematic developments. Waiting over two full days for one network confirmation is anything but fun.

Bitcoin network issues are occurring virtually every week now. Not a long period goes by without transaction delays, high fees, or some other issue. This situation has been present for some time, but seemingly one grows worse. This weekend has proven to be no exception in this regard. Some users are waiting for two full days to get just one network confirmation. It is an unacceptable situation which needs to be resolved sooner rather than later.

Another bad Weekend for Bitcoin Transactions

With over 165,000 unconfirmed transactions, things will not improve soon. It is very unfortunate. to say the least. Bitcoin is still the world’s leading cryptocurrency but it struggles to operate as such. In fact, it has become fairly clunky to use Bitcoin for transactions unless you want to pay an arm and a leg in fees. Not paying the fees results in major transaction delays. While one can use a free accelerator to speed things up, it’s far from ideal. Only 100 transactions can be sped up every hour, which is next to nothing.

In fact, some accelerators now charge high fees to speed things up. Such fees can range anywhere from $25 all the way to $70. This is simply not acceptable, especially where the world’s leading cryptocurrency is concerned. If Bitcoin had scaled properly years ago, none of this would even be an issue at this point. Unfortunately, service providers are slow to upgrade in this regard. Adoption of SegWit is still lagging behind, but things are slowly improving.

Unfortunately, there is little light at the end of this long and dark tunnel. Bitcoin is not in a good place when it comes to transactions. Although there is no shortage of transfers, there is an excess of issues. Problems like these are almost so common people hardly bat an eye these days. That doesn’t mean the issues should be ignored, mind you. Something needs to change for Bitcoin sooner rather than later. When that will be, remains anyone’s guess at this point.

Header image courtesy of Shutterstock

Raising more awareness for cryptocurrency has not been easy. In fact, one could argue there need to be far more efforts in this regard. Over in Japan, things are being done very differently in this regard. A group known as the Virtual Currency Girls is trying to bring more awareness to the masses. Considering how every member of this group represents a different currency, the initiative is well worth keeping an eye on. Some of the represented coins may raise a lot of questions, though.

Japan has always been an odd country for many different reasons. This is also part of the region’s charm, mind you. When it comes to promoting cryptocurrencies, they are not just relying on billboards or flyers. Instead, there is the group of eight Virtual Currency Girls to do all of the legwork. Every individual represents a different currency, including Bitcoin, XRP, Ether, and so forth. Surprisingly, Cardano is also on this list, rather than Litecoin, Dash, or Monero.

Virtual Currency Girls can Thrive in Japan

This particular initiative raises a lot of questions. The female idol group is a pretty interesting development, to say the least. It is worth noting the Virtual Currency Girls are indeed real people spreading the word about cryptocurrencies. The oldest member if 22 years old, whereas the youngest is just 15 years old. An interesting approach, especially when considering how they all seemingly wear wrestling masks with their currency’s logo on the front.

As is always the case, it remains to be seen if this concept will effectively work. More specifically, cryptocurrency is very popular in Japan ever since the government legalized Bitcoin. The Virtual Currency Girls may play a big role in the coming months and years. Training youngsters to market this new form of money certainly sets an interesting precedent for the rest of the world. Cinderella Academy has gone down a very intriguing path in this regard, to say the very least.

What is perhaps most intriguing is how the Virtual Currency Girls also host live performances. There is even a dedicated line of merchandise. Tickets and goods can be purchased with all of the supported cryptocurrencies. It is a very interesting take on educational efforts. It is highly unlikely we will see a similar trend in other parts of the world, though. Crazy ideas like these would only be socially acceptable in Japan and other Asian countries.

Header image courtesy of Shutterstock

Key Points

  • Bitcoin price is recovering and is currently placed nicely above the $15,000 level against the US Dollar.
  • There was a break above a key bearish trend line with resistance at $14,100 on the 4-hours chart of BTC/USD (data feed from SimpleFX).
  • On the downside, there is a connecting bullish trend line forming with support at $15,800 on the same chart.

Bitcoin price is moving positively from $12,500 low against the US Dollar. BTC/USD is currently eyeing more gains as long as above $15,800.

Bitcoin Price Rise

We saw a decent support base formed in bitcoin price around the $12,000 level against the US Dollar. The price started a nice upside move and managed to move above the $13,000 and $14,000 resistance levels. During the upside move, the price also moved above the $15,000 level and the 100 simple moving average (4-hours). Moreover, there was a break above a key bearish trend line with resistance at $14,100 on the 4-hours chart of BTC/USD.

It opened the gates for more gains and the price was able to move above the $15,000 and $16,000 levels. A high was formed recently at $17,048 from where the price may correct a few points lower. An initial support on the downside is around the 38.2% Fib retracement level of the last wave from the $14,040 low to $17,048 high. Moreover, there is a connecting bullish trend line forming with support at $15,800 on the same chart.

Bitcoin Price Weekly Analysis BTC USD

The trend line support is near the 50% Fib retracement level of the last wave from the $14,040 low to $17,048 high. Therefore, if the price corrects lower, it is likely to find support above $15,500. The overall trend is positive for BTC and the price is likely to move further higher above $17,000.

Looking at the technical indicators:              

4-hours MACD – The MACD is placed nicely in the bearish slope.

4-hours RSI (Relative Strength Index) – The RSI is moving lower towards the 55 level.

Major Support Level – $15,800

Major Resistance Level – $17,000

 

Charts courtesy – SimpleFX

Key Points

  • Bitcoin gold price is moving nicely and is forming support around the $210 level against the US Dollar.
  • There is a major bearish trend line forming with current resistance at $270 on the 4-hours chart of BTG/USD (data feed from Bitfinex).
  • The pair has to move above the $270 and $290 resistance levels to move back in the bullish zone.

Bitcoin gold price is slowly gaining pace above $220 against the US Dollar. BTG/USD must clear the $270 and $290 hurdles to gain traction.

Bitcoin Gold Price Support

There was a sharp downside move in bitcoin gold price from the $420 high to $192 low against the US Dollar. Later, the price formed a decent support base and moved above $200. It has formed a good base above the $200 level and is currently trading in a range above $200-220. It recently succeeded in breaking the 23.6% Fib retracement level of the last drop from the $420 high to $192 low.

However, there are two important resistance forming on the upside at $270 and $290. Both acted as a major barriers for more gains. Moreover, there is a major bearish trend line forming with current resistance at $270 on the 4-hours chart of BTG/USD. The trend line resistance is above the 100 simple moving average. The current price action is positive above $240. Therefore, there is a chance that BTG could move above $270. However, the $290 resistance is the next barrier along with the 50% Fib retracement level of the last drop from the $420 high to $192 low.

Bitcoin Gold Price Weekly Analysis BTG USD

A proper close above the $300 level is required for buyers to gain momentum. As long as the price is below the $300 level, there can be more ranging moves between $220-290.

Looking at the technical indicators:

Hourly MACD – The MACD for BTG/USD is slightly in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is moving higher toward the 70 level.

Major Support Level – $220

Major Resistance Level – $290

 

Charts courtesy – Trading View, Bitfinex