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Bitcoin Destined for $29,000 This Year, Ethereum $2,550, Study Finds

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Cryptocurrencies have struggled as of late, but another bull run could be just around the corner, according to a recent survey conducted by Finder and published in the South China Morning Post.

$29,000 Bitcoin

Finder, a popular comparison website, asked nine blockchain participants about the possible trajectory of 12 cryptocurrencies. Among the study’s more interesting findings is the projected path of bitcoin over the next nine months. Participants said bitcoin’s value will hit $29,533 by the end of the year, a nearly threefold increase from the current price point of around $9.400.

Ethereum was tipped as the best-performing digital currency of the year, with a market cap that is projected to rise 212%. In terms of price growth, ether is projected to more than triple to $2,550.

The industry panel projected a more than doubling of bitcoin cash’s price to $2,721.

The predictions were based on price action of digital currencies on Feb. 27, the South China Morning Post reported.

While bullish predictions on cryptocurrencies are nothing new, the latest outlook should provide some relief to long-term holders of digital assets who may be concerned with recent price trends.

Ethereum: the Key to Unlocking Future Value

Ethereum’s expected growth comes at a time when more companies are utilizing its protocol to launch digital assets of their own. ICO fundraising topped $1.2 billion in February, bringing the total amount raised for the year to $2.7 billion. As most are aware, the vast majority of token raises are launched on the Ethereum blockchain. As more buyers look to participate in ICOs, ether’s value as a funding mechanism could skyrocket.

There’s already some evidence to suggest that investors are loading up on ether in anticipation of future crowdsales. Despite heavy volatility,  ether prices have more or less traded even for 2018. Over the same period, the broader cryptocurrency market has fallen 35%.

At the same time, ICO projects are being launched at much higher frequency than at anytime last year. Although we’ve seen greater uptake of other blockchains, such as NEO and Stellar Lumens, Ethereum remains king of the token raise.

Ethereum founder Vitalik Buterin is also developing a new protocol for the crowdfunding model that utilizes Decentralized Autonomous Organizations, or DAOs for short. The new model, referred to as “DAICO,” is currently being tested by The Abyss, a gaming platform that launched its token sale on Wednesday.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

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Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 648 rated postsSam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world's foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance. Sam's work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Contact: sam@hacked.com Twitter: @hsbourgi




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  1. Borovit

    March 9, 2018 at 3:25 am

    I am curious about the rest of the 9 coins they did the study on. I tried to find info on it but I can’t seem to find anything. Odd they listed just those 3 but nothing else.

  2. twelker

    March 9, 2018 at 3:29 am

    Sadly, this went from an interesting article about a study to an Ethereum pump piece. What about the other nine cryptos in the study? Wasn’t that the original story line? Also, banking on ICO’s to have a positive impact on Ethereum’s price is highly speculative, especially considering the SEC’s, 80-plus, subpoenas rumored to be directly related to ICO’s. You really think shit coins, without a working product, are going to continue to launch using ERC-20 tokens and that exchanges are going to list them? I certainly don’t and I wouldn’t be betting any money on it.

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TRON (TRX) Transactions Outnumber Ethereum’s Thanks to TRONbet Gambling App

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For the past year much of Justin Sun’s time was spent trash-talking Ethereum on Twitter, while talking up the future potential of his own TRON blockchain.

Such behaviour once made it easy to dismiss Sun as a mere troll, however it now looks like TRX might actually be gearing up to do battle with ETH based on its rapidly growing number of users and transactions.

TRX Transactions Soar

The amount of transactions on the TRON blockchain outnumbered that of Ethereum for the first time ever this week. In the three day period between Oct 18th and Oct 20th, TRX transactions outpaced their ETH counterparts by several tens of thousands.

The sudden jump in transactions comes in large part from the recently launched TRON-based gambling app, TRONbet. According to Sunday morning’s tweet from the TRONbet team:

“Amazing start for #TRON with http://tronbet.io doing almost 180k Txs a day! Almost 30% of all Txs! 165,000,000 $trx won by users. @justinsuntron @Tronfoundation has shown us the endless possibilities!”

The 180,000 transactions mentioned helped to boost total TRX transactions from 222,000 on October 17th, up to Friday’s peak of 630,000. Going back to October 10th, the total number of TRX transactions was in the 80,000 range, meaning the last ten days have seen a 687% increase to transaction volume.

Justin Sun marked the occasion with a celebratory tweet, stating:

“Ethereum has 82,418 Txs pending today. It is the second day that #TRON has surpassed #ETH in daily Txs. 10/18 #TRX 599,677 vs. ETH 565,971; 10/19 $TRX 630,018 vs. ETH 601,119. All ETH developers need to migrate to TRON immediately with 0 cost!”

Smart Contracts

One can only speculate on where the rest of the TRON transactions came from, but according to TRXPLORER.io, the vast majority of them were triggered by smart contracts:

“Yesterday we had the highest spike of transactions on #TRON network with almost 600k transactions in a day! 77% of those transactions were Smart Contracts that were triggered!”

To provide some perspective, it took the TRON blockchain four months to achieve the number of transactions that Ethereum achieved in nearly three and a half years.

A skeptic may demand to know exactly where these transactions are coming from, after all, even Ethereum has seen huge increases to transaction volumes thanks purely to pointless smart contracts which move the same funds between multiple addresses.

As covered here previously, October has been a productive month for TRON. The number of accounts created on the blockchain recently outpaced EOS, gaining 100,000 more new accounts than EOS in the previous four month period.

Meanwhile, a quick glance at Google Trend analysis for ‘TRON’ searches compared to ‘Ethereum’ reveals that TRON is being searched for more than its older counterpart.

The chart shows the same pattern for ‘TRX’ searches compared to ‘ETH’.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 81 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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Monero Price Analysis: XMR/USD Marching Higher amid Large Reduction in Fees

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Kovri Bulletproofs Monero
  • Monero community members are sharing their delight with the instant impact of the recent update.
  • XMR/USD bulls will be looking at another retest of the breached Aug-Oct ascending trend line.

Latest Update from Monero Developers Sees Huge Reduction in Fees

The Monero community are sharing their excited observations of the benefits from the Beryllium Bullet update. Earlier this week, the foundation had another hard fork going live. The release was known as, “Monero 0.13.0 “Beryllium Bullet,”. The goal was for greater efficiency of their protocol, to facilitate stronger privacy, faster and more cost-effective transactions. In addition, more resistant ASIC miner protection, as previously reported via the last Monero article.

The update has instantly demonstrated its enhanced performance and new features. Monero users have been taking to the social space to express their delight, with the changes being very noticeable.

Members of the Monero community via the Reddit social page were sharing their photos, providing examples of how low the fees are for processing transactions are now.

Technical Review – 60-minute Chart

XMR/USD 60-minute chart

XMR/USD can be seen moving within a triangular pattern set up, via the 60-minute chart view. This coming after much stabilization has been seen with the price since the overly aggressive movement on 15th October. That’s when prices spiked higher in line with the rest of the market, before quickly retreating. The price behavior would suggest another breakout is very much imminent as it is currently moving within an extremely narrowing nature. Looking to the upside, resistance can be seen just ahead at $108.50, or the upper part of the pattern. Further ahead, a choppy supply area is seen running from $110-112 region. In terms of support this can be eyed not too far below, $106.50, lower part of the triangle.

Technical Review – Daily Chart

XMR/USD daily chart

Looking via the daily chart, there is room for upside and another retest of the breached ascending trend line. This had originally been supporting the price from 13th August up until early October. XMR/USD bulls could run up the price to $124 territory, before being met with a test of hard sellers. During the big spike on 15th October, the upper wick can be seen having attempted to break back above the mentioned trend line.

If the bulls can maintain their course of upside momentum and break back above the original supporting trend line, a price towards $150 could again be reclaimed.  In terms of support on the daily, this looks firm around $104, a secondary running ascending trend line. Further south, a demand zone is seen sub-$100, running from $86 – $76 region.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 33 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Cardano Price Analysis: ADA/USDT is Eyeing a Big Move Out of Current Technical Setup

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  • Positive update from IOHK audit of Icarus by Kudelski Security.
  • ADA/USDT is moving within a pennant pattern formation, subject to breakout.

Solid Icarus Audit reported by IOHK

IOHK recently announced in their forum that an audit was conducted by Kudelski Security, which is an independent and third-party security audit firm. The audit conducted demonstrated that the Icarus project implementation for Cardano looks all good and set to go, without any major problems. However, a few changes may need to be executed. IOHK developed the Icarus code as a reference implementation, for Cardano light portfolio.

The important of “independent audits, like this one was stressed by IOHK. Stating “they are critical for identifying security issues in the Icarus wallet, that may not have been identified by internal audits”.

Furthermore, IOHK has elucidated Icarus as an open source code base serving as a reference for the creation of safer and easier mobile wallets for Cardano. They said, “this guarantees our customers and clients the safest portfolio we can offer.”  Given the benefit of an external audit, the developers can resolve any problems identified during its product launch audit.

Positive Updates from Cardano Founder

Cardano’s founder, Charles Hoskinson, was recently commenting on Cardano’s future. He said “We have so many amazing things coming out.”

Mr Hoskinson further added that one of their scientists has flown in from Switzerland. They will be doing a video, which will be the first time they have ever talked about their sharding design that we have for Cardano. Further commenting on other updates, including videos about Shelley and the Rust project.

Technical Review – Daily Chart

ADA/USDT daily chart

ADA/USDT is moving within a triangular pattern or a pennant formation, as seen via the daily time frame. It is narrowing, moving closer to a breakout. Ranging ahead of another drop to the deep south. Although, fundamental developments coming out from the Cardano foundation, remain very much upbeat currently.

Over the past 8 days, the price has been grinding higher, after receiving support at the lower trend line of the above-mentioned pattern. In terms of resistance to the upside, this can be seen at 0.08310000. The upper tracking trend line. Further north, a supply zone is running from 0.09000000-0.09500000. ADA/USDT  last traded here on 23rd September. Finally, support is tracking at 0.071800000, lower part of the pennant, also within a demand area. Another strong buying territory is observed from 0.06500000-0.06000000.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 33 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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