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Bitcoin Market Report: $BTC Bearish

December 30 2018 05:33 UTC   Bitcoin has lost -2.81% or -107.93 USDT in twenty-four hours. In this Sunday Edition find $BTC price action, trend, technicals and more. Or jump right to the Bitcoin $BTC Price Outlook.   Price Action The price of $BTC has fallen over twenty-four hours. The last price at press time […]

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December 30 2018 05:33 UTC

Price Action

The price of $BTC has fallen over twenty-four hours. The last price at press time is 3730.04 USDT. In Binance light to moderate volume trading the daily change is -2.81%, or -107.93 USDT:

$BTC Price Change
period % USDT
24 hours -2.81 -107.93
7 days -5.08 -199.67
1 month -13.17 -565.68

News

Trend

trend is DOWN

[Trend is “down” when the quarterly price movement is predominantly downwards.]

Real Time Market Depth

The real time market depth is bearish.

[The real time market depth is a fractional representation of the order book, used to assist in determining market direction.]

Chart

Tap / click to zoom:

btc-usdt-binance-one-week-candles-2018-12-29

Remarks

Bitcoin is in a multi month descending trend with lower highs and lower lows. Although $BTC has had some very good days, overall the trend is down.

Normally much shorter term data points would be used for a shorter term analysis like this. Since this is the last Bitcoin $BTC report for the 2018 year, the weekly chart was used to portray the wider perspective.

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the one day chart is bullish. The one week MACD is bearish.

[MACD is a trend-following momentum indicator]

Exponential Moving Averages (EMA)

period average
7 day 4190.99
25 day 5681.19
99 day 6403.45

Using the weekly chart for EMA illustrates how the last price of $3730.04 is so much lower than all (3) of the EMA averages: short, medium and long term. The angle of descent is moderately steep.

[EMA is a type of moving average that weights recent price fluctuations more, yielding a better short term signal]

Relative Strength Index (RSI)

The Relative Strength Index on the one day chart is 46.8. This is a neutral state.

[RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]

Bitcoin $BTC Price Outlook

bearish
  • the Bitcoin $BTC price outlook is bearish
  • if the price finds acceptance at higher levels the major resistance prints at 4198
  • if the price finds acceptance at lower levels the major support prints at 3156
Resistance levels: 4198 3892

Support levels: 3156 3658

Invalidation: This outlook is no longer valid if the asset has performed outside of its resistance or support levels, or outside of its short term analysis duration.

Analysis Duration: six hours

This report is for a short duration of six hours. Analysis is time sensitive.

[Analysis duration yields a “best before date”, calculated from report generation at December 30 2018 05:33 UTC.]

Independent Comparison

Comparing our outlook with independent, automated results from Investing.com shows:

Asset: Bitcoin $BTC

Time Period: Monthly

Summary: strong sell

Moving Averages: sell

Technical Indicators: strong sell

Disclosure

The author holds Bitcoin $BTC at the time of writing.

About @KittyBitcoin

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Thanks for reading 🙂

Source: http://allcoinsnews.com/2018/12/30/bitcoin-market-report-btc-bearish/

Blockchain

Bitcoin Halving: Definitive Guide (In Just 5 Minutes)

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Bitcoin halving is often referred to as “Halvening”, it’s a formulated reduction in the reward coins offered to the miners using a predefined blockchain algorithm.

Bitcoin halvings take place once in every four – 4 years approximately, or for every 210,000 block transactions.

The process of halvening started in the year 2012, approximately after 4 years of the invention of bitcoin i.e 2008, but practically bitcoins came into play in the year 2009.

After the first bitcoin halving, the block reward of 50 bitcoins per transaction were reduced to 25 bitcoins per block or transaction, later this reward was further reduced to 12.5 and it has now fallen to 6.25 after halvening in 2020.

The main idea of halvening is to create scarcity for the coins and to control inflation, as bitcoins issuance is limited to 21 million coins as per the idea of Satoshi Nakamoto, inventor of Bitcoin.

The production of 21 million bitcoins involves 32 halvenings, we are now done with two halvenings and this might continue till or come to an end in the year 2140.

Investors from all over the world are excited and waiting for the Bitcoin price to increase, and the demand for bitcoins in the online gambling industry is high. Bitcoins are widely accepted at Bitcoin Casinos as they collect deposits in the form of cryptocurrency from their players.

To know the overview of Bitcoin Halving (Just in minutes), check out the following infographic developed by Abishai James at WinBTC.net in partnership with ACMarket.

bitcoin halving
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Blockchain

Santiment Reveals Top 10 Ethereum Projects by Developer Activity

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Despite record highs for network charges in February, development on some of the industry’s leading Ethereum based projects has continued unabated.

The research stated that development activity is an often-underrated indicator of project success. It demonstrates the ongoing commitment to creating a working product, continuously polishing and upgrading its features, and staying true to the long-term roadmap.

The research focused solely on pure ERC-20 projects that are currently committed to developing on Ethereum. It has used 30-day Github activity to track development status and action.

The Ethereum Project Top Ten

At the top of the list for developer activity in February is the decentralized prediction market platform Gnosis. Despite a 28% slide in GNO token prices for the second half of the month, the Gnosis team has been busy working on the product.

Gnosis launched on the xDai Ethereum sidechain, joined the Open DeFi alliance, and launched a new collaborative grants initiative for Gnosis Safe Apps last month.

Status was the second most developed Ethereum based project with a number of updates for the open source mobile dApp browser and messenger. SNT prices hit a three-year high of $0.125 in February.

Virtual metaverse and NFT protocol Decentraland was third in the list of developer activity with a number of features introduced to improve user experiences.

DeFi synthetic asset protocol UMA came in fourth with two main focuses for the month; getting some major protocols out the door, and there was a collaboration with BadgerDAO.

Coming in at number five for developer action was Chainlink which announced the official mainnet launch of Off-Chain Reporting (OCR). This significantly improves the efficiency of how data is computed across Chainlink oracles, reducing operating costs by up to 90%, it added.

“The most immediate benefit to DeFi and its users will be a 10x increase in the amount of real-world data that can be made available to smart contract applications.”

DeFi Dominates

These were the five most developed platforms in the Ethereum ecosystem for February 2021, and they were dominated by DeFi.

Also featuring in the top ten list was Skale Network, a decentralized modular cloud for running Ethereum-based dApps. MakerDAO, which is consistently in the top ten for development, was in seventh place.

Decentralized data exchange protocol Ocean, computing sharing economy Golem, and analytics platform Santiment itself rounded out the top ten.

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Source: https://cryptopotato.com/santiment-reveals-top-10-ethereum-projects-by-developer-activity/

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Blockchain

Blockchain in Sports Betting

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Wanna enter the Sports betting industry? Are you worried about the transactional data, security and entry charges?

Just relax and lean on to your chair. The amazing features of blockchain technology have reshaped the sports betting industry. It enhances safe and secure transactions as it is an open source decentralized network.

Basically, blockchain offers tremendous features like transparency, fast payouts, speedy transactions, independent in nature, etc. The most effective feature is the player’s account will not be restricted or blocked either personally or professionally  due to extreme winnings.

Blockchain is the most prominent technology ruling today’s betting industry. It’s advancement in the sports industry has laid a pavement for its enormous growth in recent times.

To get detailed information, checkout the following Infographic developed by WinBTC.net in Partnership with MrBet.me.uk.

Blockchain In Sports Betting Infographic
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