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Paulo del Puerto | Moneybees | 2020 Year in Review

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January 14, 2021 — Every person you ask will say the same thing: 2020 is unlike any other year. 

The cryptocurrency industry felt the full brunt of the pandemic, as evidenced by the March 2020 crash. Nine months, one Bitcoin halving and a couple of institutions later, the industry sees a resurgence in interest brought about by Bitcoin hitting and breaking the psychological all-time high at $20,000 and reaching a new one of $42,000.

Table of Contents.

What is the 2020 Year in Review?

BitPinas sought the opinion of key crypto and blockchain leaders/influencers in the Philippines and abroad on what they think about 2020 in general and what they look forward to in 2021.

What does your organization do and what is your role in it?

Paulo: Moneybees lets people buy and sell crypto using almost ANY crypto wallet easily through our physical outlet partners and our online trading desk.

Please share a personal highlight for you and/or your organization this year in the crypto and blockchain space.

We received our BSP License on Feb. 2020 and shortly after, the lockdowns happened. So we had to pivot quickly and effectively since our business model was to provide OTC trading via our physical outlet partners. In order to do this, we sought the guidance and approval of the BSP. And after a month, we were able to launch our online trading channel alongside our physical outlet partners.  

What do you think is the most important blockchain/crypto development in the Philippines and globally in 2020?

In the Philippines, it’s not directly pertaining to crypto or blockchain, but I think the most important development is the wide adoption of virtual currency. With the social distancing imperative, Filipinos have become accustomed and comfortable in using virtual currency, and I believe this will eventually lead to adoption of cryptocurrency in general (without even realizing that the underlying technology is crypto and blockchain). As I’ve always believed – people don’t really need to understand how crypto or blockchain works to adopt it — they just need to be comfortable using it.

Globally, definitely Paypal adding crypto into their offering is a very important development. As with what I mentioned earlier, this paves the way for adoption of a wider user base. I believe this move by Paypal somehow removes bitcoin’s perceived “complexity” by non-techie people (i.e. the general public) and gives them a way to just buy and sell it like any other virtual good. 

How did the pandemic change how your organization operates? Or how you’ve changed your approach?

The lockdowns challenged our business model since we mainly partner with physical money service businesses to offer OTC crypto transactions. We had to quickly get the guidance and approval of the BSP to adopt our model into online. 

What is your fearless 2021 crypto prediction or forecast?

As more companies see the value (not just the price) of bitcoin, crypto and blockchain, we may see more local and global non-crypto mainstream and big tech companies follow the footsteps of PayPal by integrating crypto into their offerings.

What do you personally look forward to in this space?

Personally I look forward to what Paypal is going to do further with crypto. Currently, their implementation is still very limited – just buy, sell, and hold. There is no option to deposit nor send. Will they allow merchants to accept payments in crypto. We’ll see.

Despite the lockdowns and the sudden shift in our business, 2020 has been a good year for us as a company. And with the lockdowns becoming looser and people are adapting to the new normal, we are excited to further rollout to more of our outlet partners. Our online channel has also garnered a lot of traction so we plan to make our customer experience through our online channel even more convenient.

Follow Paulo on Linkedin. Check out Moneybees on its website and Facebook page.

This article is published on BitPinas: Paulo del Puerto | Moneybees | 2020 Year in Review

Please share and grow the BitPinas community.

Source: https://bitpinas.com/feature/interview/paulo-del-puerto-moneybees-2020-year-in-review/

Blockchain

XRP, Dogecoin, Cardano Price analysis: 08 May

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Volatility was shrinking in the XRP market and some rangebound movement was predicted moving forward. Buying resumed for Dogecoin as the price overturned $0.69 from resistance to support. Lastly, Cardano presented a few targets above $2 which could be toppled in the coming weeks.

XRP

Source: XRP/USD, TradingView

At the time of writing, the world’s fifth-largest cryptocurrency – XRP was trading within a range of $1.63-$1.53. Bollinger Bands contracted and a volatile market that saw XRP rise from $1.31 to $1.75 was now coming to an end. This suggested some short-term sideways movement. On the other hand, OBV has been on an uptrend since late April and buying pressure has been steadily building up in the market.

If the $1.75-ceiling is toppled, XRP could shoot north of $1.96 and register a new local high. If the market takes a bearish path, $1.31-support could be under the spotlight.

Dogecoin [DOGE]

Source: DOGE/USD, TradingView

Dogecoin jumped by 8% in the last 24-hours as the buying frenzy resumed after yesterday’s cooldown. According to the Awesome Oscillator, momentum was with the bulls and the bars switched to green once again. This was widely anticipated as Elon Musk’s Saturday Night Live appearance was now just a few hours away. RSI was also in bullish territory above 65. Even if the index moved in the overbought zone, it would be of little consequence as bullish sentiment alone could drive DOGE.

On the 4-hour timeframe, buyers flipped $0.69-resistance to a region of support. While volumes were yet to reach levels seen a few days ago, this could quickly change in the coming sessions. A bullish outcome could see DOGE rise above $0.80 before a pullback. Once a sell-off occurs, support lines to watch out for include $0.57 and $0.53.

Cardano [ADA]

Source: ADA/USD, TradingView

Since early March, Cardano largely oscillated between the channel $1.48-$1.01. While a breakout did occur a couple of days ago, volumes were distant from levels seen during February. The technicals still highlighted a bullish market and a few Fibonacci levels were plotted on the daily timeframe.

MACD line maintained above the Signal line and its histogram noted a series of green bars. Supertrend Indicator continued to flash a buy signal which would switch to sell at $1.20. A few targets lay at 138.2% ($2.13) and 161.8% ($2.37) Fibonacci levels and these could be toppled in the coming weeks. Meanwhile, volumes must be observed for sharp price movement within the market.


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Source: https://ambcrypto.com/xrp-dogecoin-cardano-price-analysis-08-may

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Blockchain

Theta, EOS, Tron Price Analysis: 08 May

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Theta projected dips at $12 and $11 and a fall below the latter level could lead to further losses in the market. EOS’ correction could see it drop all the way towards the 23.6% Fibonacci level at $6.4. Lastly, Tron’s breakout was restricted at $0.165 and $0.148 needed to be defended from some selling pressure.

Theta [THETA]

Source: THETA/USD, TradingView

The hourly timeframe captured Theta’s bearish movement after the price touched $13. This was within expectations as a previous analysis mentioned limited gains despite a break above $12. RSI even highlighted a bearish divergence and the recently turned $12-mark would be under the spotlight over the coming hours.

Relinquishing the $11-mark to the bears would even drop THETA below its 200-SMA and lead to an extended bear market. MACD line inched closer to the Signal line and presented the threat of a bearish crossover. For a bullish outcome, levels to overturn include $14 and $15.

EOS

Source: EOS/USD, TradingView

The last few days saw a sharp surge in EOS market as its value appreciated from a low of $4.4 to a high of $12.4. However, a correctional phase over the last 24 hours saw EOS fall below multiple support levels on the 4-hour timeframe. Using the Fibonacci tool, a few retracement levels were highlighted. Prominent areas of support rested at the 50% ($8.8), 38.2% ($7.7) and 23.6% ($6.4-$6.2) Fibonacci levels.

Awesome Oscillator noted a series of red bars as momentum grew stronger on the selling side. Supertrend Indicator would switch to sell below the $9-mark and a viable take-profit could be set at $7.8 for short trades.

Tron [TRX]

Source: TRX/USD, TradingView

While Tron did reclaim the $0.148 level from the bears, gains were restricted at $0.165 upper ceiling. In fact, the 4-hour timeframe showed an ascending triangle breakout and gains above the upper trendline amounted to nearly 17%. However, a bearish trend could see TRX head back towards $0.136. A 40% fall in the 24-hour trading volumes showed trading inactivity and the threat of a breakdown loomed large.

A dip below $0.129 (coincides with 200-SMA) could also lead to an extended sell-off. While Chaikin Money Flow has maintained above the half-line, lower highs suggested a weakening trend. Capital outflows would only accentuate losses in the market. The Parabolic SAR’s dotted markers moved above the candlesticks and highlighted a downtrend after TRX snapped $1.65.


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Source: https://ambcrypto.com/theta-eos-tron-price-analysis-08-may

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Blockchain

Chainlink, Monero, Ethereum Price Analysis: 08 May

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Chainlink was projected to dip towards $45.6 on the back of selling pressure. Monero needed to defend $440 to avoid a bearish U-turn. Ethereum flashed several red signals that indicated an incoming correction.

Chainlink [LINK]

Source: LINK/USD, TradingView

While Chainlink did break north from a down-channel as predicted in a previous analysis, gains were limited at the $50-mark and some selling was noted over the past few sessions. A dip towards $45.6 seemed likely in the coming sessions.

The technicals showed that LINK has maintained a bullish market since April-end. Awesome Oscillator maintained a positive reading for the past two weeks, while RSI traded above 50. However, these could also be interpreted as warning signs prior to an incoming correction. If the $45.6-level is flipped, an extended sell-off was possible all the way towards $38. For a favorable outcome, the bulls would need to claim the region above $50-52.

Monero [XMR]

Source: XMR/USD, TradingView

Monero defended the $380-388 from bearish pressure and this allowed for a surge above $440. XMR rose as high as $517 before a correction took place. Despite a pullback, Supertrend Indicator presented a buy signal at the current level, but this would switch to sell if XMR dropped below the newly flipped $440-mark.

Awesome Oscillator noted a series of red bars as some bearish momentum resided in the market. If XMR bounces back from the aforementioned support but is unable to break above $517-520, expect some rangebound movement over the coming days.

Ethereum [ETH]

Source: ETH/USD, TradingView

Several indications in the market suggested an incoming pullback for the world’s largest altcoin. The first was the formation of an up-channel on the 4-hour timeframe – a bearish pattern. The second was a downtrend seen on Awesome Oscillator. Not only did this show a bearish divergence with the price, but also depicted weakening buying pressure. A declining ADX also worked against a further price hike.

While a previous analysis did mention that ETH could maintain higher levels, the bulls must be wary of a southbound break from $3,200. This could lead to further losses towards the $2,800-region.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/chainlink-monero-ethereum-price-analysis-08-may

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