Cardano Price Analysis: ADA/USD Trends of November 16–22, 2018

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Cardano Price Analysis: ADA/USD Trends of November 16–22, 2018
Key Highlights:

There are possibilities that Cardano price may still fall;
the trend may change in case Supply zone of $0.064 is broken;
bears took over ADA market.

ADA/USD Price Long-term Trend: Bearish
Supply Zones: $0.064, $0.069, $0.073
Demand Zones: $0.061, $0.058, $0.054Cardano resume to its downtrend movement. As it was predicted last week when the cryptocurrency formed descending triangle on the daily and 4-Hour chart to confirm the falling of the coin, ADA is in a bearish trend. The bears’ pressure on ADA price is strong as it is clearly seen on the chart, with the strong bearish candle that broke out from the lower trend line of the last week descending triangle. Cardano price was pushed to break downside the last week demand zones of $0.073, $0.069, $0.064.
ADA price is trading below 21-day EMA and the 50-day EMA, with the two EMAs far apart from each other which indicate the strong pressure of the bears. Moreover, the MACD with its histogram is below zero level and the signal lines pointing towards the south, which indicates that there are possibilities for the continuation of the downtrend.
ADA/USD Price Medium-term Trend: Bearish
On the 4-H chart, Cardano is in the bearish trend. ADA price started falling as the bears gained momentum to push ADA out of the consolidation phase. A Doji candle formed followed by a strong bearish candle that broke downside the former demand zones of $0.073 down to $0.061. The coin moved toward the demand zone of $0.058 but was interrupted by the bulls, returned ADA price to $0.064 supply zone.
Should the bulls push Cardano price up to break the supply zone of $0.064 upside, the trend may change to uptrend but in case the bears defend this zone there will be downtrend continuation.
ADA price is below21-day EMA and 50-day EMA, the two EMAs well separated from one another which connotes that the downtrend is ongoing. The MACD with its histogram is below zero levels with signal lines about bending to the north which indicates a buy signal, which may be a pullback before it continues its downtrend.
Cardano Price Analysis: ADA/USD Trends of November 16–22, 2018

BitGo Banks on Stablecoins in a Bid to Win Over More Institutions

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BitGo Banks on Stablecoins in a Bid to Win Over More Institutions
Blockchain security firm and cryptocurrency wallet BitGo is expanding its suite of stablecoins custody offerings. The latest stablecoin coming to BitGo is the Gemini Dollar (GUSD). Besides this, BitGo already offers custody services for many other stablecoins like Circle’s USD Coin (USDC), MakerDAO’s DAI, TrustToken’s TrueUSD (TUSD), and Paxos Standard (PAX).
This is the 101st crypto asset added by BitGo to its custody offerings. BitGo believes that the addition of a wide-range of stablecoins will give the company the first-mover advantage. Moreover, it will also help towards attracting institutional players to the crypto space. In the last few months, a number of crypto companies have launched their own stablecoins citing a huge potential. Furthermore, the controversies and suspicious operation of Tether (USDT) token has given more room for new players to chip in.
Stablecoins are basically digital assets tied to fiat currencies like the U.S. Dollar or Euro or any other fiat. Unlike other crypto assets which have high volatility, stablecoins are relatively stable. At any given time, the price of stablecoin is equal to the price of the fiat currency.
High Demand for Stablecoins
In September itself, BitGo received the regulatory license to offer crypto custody services. This allowed the company to pitch regulated storage solution to institutional investors.
Isaac Elefheriadis, BitGo’s product technical manager told CoinDesk that there’s a huge demand for stablecoins from exchanges. According to BitGo’s internal record for API requests, a total of 28,894 API requests arrived from October 9 to November 9. The company’s clients submitted 137,649 searches for USDC and 151,768 searches for TUSD. These searches basically co-relate to transactions and wallet balances.
“When investors are looking for a place to custody their funds, they are looking for a one-stop-shop, a place to store all their crypto assets,” Eleftheriadis said. “Certainly, we are going to continue adding more coins and tokens.”
Several Crypto Companies Adding Stablecoins
A number of crypto firms in the market are adding stablecoins to their product offerings. It means that BitGo certainly has a huge competition in the market.
BitGo competitor and producer of hardware crypto wallet – Ledger – recently added support for a number of stablecoins. Earlier this week, decentralized crypto network EOS announced the support for CarbonUSD.
Last month, Hong Kong-based cryptocurrency exchange OKEx added support for four stablecoins. This includes TrustToken’s TrueUSD (TUSD), Circle’s USDCoin (USDC), the Gemini Dollar (GUSD), and the Paxos Standard Token (PAX).
Similarly, the very popular crypto exchange Coinbase added support for Circle’s ERC20-based stablecoin USDC. At that time, Coinbase said:
“The advantage of a blockchain-based digital dollar like USDC is easier to program with, to send quickly, to use in dApps, and to store locally than traditional bank account-based dollars. That’s why we think of it as an important step towards a more open financial system.”
BitGo’s Custody Service Offerings
Crypto custodian BitGo is popular for its multi-signature wallet that offers which provide an additional layer of security to reduce frauds. Furthermore, to execute a transaction, BitGo’s multisig e-wallets two and more signatures. Due to its enterprise-grade custody services, BitGo’s multisig wallet feature is quite popular among institutional players.
Last month during its Series B funding, BitGo received a huge $15 million investment from Goldman Sachs and Galaxy Digital. Galaxy Digital is a cryptocurrency merchant bank led by hedge fund titan and Bitcoin billionaire Mike Novogratz.
In just last one year, BitGo has clocked phenomenal growth and expansion. The company added more than 90 crypto assets to its custody offerings. Moreover, BitGo serves more than 300 institutional clients currently. BitGo’s vice president of marketing, Clarrisa Horowitz recently told that the company is restructuring its business model. These efforts are to improve profitability and serving its customers better.
Also, the company is implementing some transitional change in technology to become a full-fledged financial services company.
BitGo Banks on Stablecoins in a Bid to Win Over More Institutions

Bitcoin Price Analysis: BTC/USD Quick Pullback Opportunity

Bitcoin recently made a sharp drop but has found support at the $5,200 area where bulls were likely waiting to buy on dips. This could spur a pullback to the broken long-term support around the $6,000 handle.

Applying the Fibonacci retracement tool on the latest swing high and low shows that the 61.8% level lines up with the broken support that might now hold as resistance. A smaller pullback could already find a ceiling at the 38.2% Fib or the $5,700 area or the 50% level at $5,870. If any of these inflection points hold, Bitcoin could resume the drop to the swing low or lower.
The 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. In other words, the selloff is more likely to resume than to reverse. In addition, the gap between the two is widening to reflect stronger selling pressure. The moving averages are also close to the area of interest to add to its strength as a ceiling.
RSI is pulling up after reaching oversold territory, though, indicating that buyers are ready to return and push Bitcoin price higher. Stochastic is also making its way out of the oversold region to reflect a pickup in bullish pressure. Then again, once both oscillators reach overbought levels around the times the Fibs are tested, sellers might return there.

Bitcoin is still on shaky footing as the “civil war” related to the Bitcoin Cash hard fork is keeping the entire industry on edge. Understandably a lot of retail and institutional traders took money off the table leading up to the split and the lack of consensus has contributed to the prevailing FUD sentiment.
Analysts have also warned that it could take months to undo the latest slide, which has dragged Bitcoin down to its yearly lows. Further declines at this point could encourage more sellers to join in.

Images courtesy of TradingView
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Bitcoin Scammer Hacks More High Profile Twitter Accounts

The fake Elon Musk Bitcoin scam on Twitter managed to hack several high profile accounts to make the scam appear legit.

If there’s one thing that hackers can be accused of, it’s the ability to be highly inventive. Case in point is the recent Bitcoin scam carried out on Twitter. A fake account pretending to be Tesla CEO Elon Musk managed to rake in over $180,000 in ill-gotten profits. However, the scam went a bit further by the hackers taking over the accounts of some high profile entities.
Multiple Twitter Accounts Hacked
Last week, Live Bitcoin News reported of the latest Bitcoin scam to take place on Twitter. A fake Elon Musk account was used to lure the gullible in sending some BTC to a wallet in the promise of getting up to a 10x return.
The scam was further sweetened by the hackers taking control of some higher profile Twitter accounts. These accounts were used to bolster the false legitimacy of the fake Elon Musk giveaway.

These notable accounts included U.S. politicians (Representative Frank Pallone Jr. and California state senator Ben Allen), an Israeli politician (Rachel Azaria), the EU-based Pathe film production company, and the Capgemini consulting firm.
In now-deleted tweets, the hacked Ben Allen account said, “I sent 0.50 BTC and got back 5 Bitcoins!” Rachel Azaria’s hacked account tweeted, “+25 BTC, thank you!”
Other notable accounts hacked for the Twitter Bitcoin scam include the Indian national disaster management authority as well as the Indian consulate in Frankfurt, who tweeted, “I sent 0.50 BTC and got back 5 Bitcoins!”
Overall, it appears that the fake Elon Musk account made good on some minor transactions to make the entire enterprise seem on the up-and-up. The use of the other hacked accounts just lent some extra legitimacy to the scam.

Bitcoin Scams Abound on Twitter
Twitter says that they are fighting to stop such Bitcoin scams from taking place. The social media platform has said:
Impersonating another individual to deceive users is a clear violation of the Twitter Rules. Twitter has also substantially improved how we tackle cryptocurrency scams on the platform. In recent weeks, user impressions have fallen by a multiple of 10 in recent weeks as we continue to invest in more proactive tools to detect spammy and malicious activity. This is a significant improvement on previous action rates.
However, the hits do keep coming. Back in August, researchers found that over 15,000 Twitter bots were pushing cryptocurrency scams. In just the last two days, both Google’s G Suite account and that of retail giant Target were both hacked to promote the latest Bitcoin scam.
The reality is that such Twitter scams will continue as long as people keep taking the lure of free money. If the deal sounds too good to be true, then it probably is.
Have you ever fallen victim to a Twitter Bitcoin scam? Let us know in the comments below.

Images courtesy of Shutterstock.
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Circuit Capital: Mainstream Bitcoin and Blockchain Adoption Is Growing

San Francisco and Singapore-based hedge fund Circuit Capital is claiming that bitcoin and cryptocurrency adoption is growing, and that the institutional presence in the digital asset arena is stronger than ever.

The Price Isn’t So Hot
At the time of writing, the cryptocurrency space is undergoing a massive price slump. Bitcoin, for example, is at its lowest point in over a year, and is trading for about $5,500.
Some analysts are blaming the losses on the bitcoin cash fork scheduled to take place today November 15, 2018. Marcus Swanepoel – co-founder and CEO of cryptocurrency trading wallet Luno – recently stated:
This drop in the price is more than likely due to the hard fork scheduled by bitcoin cash. The bitcoin cash blockchain has been undergoing scheduled hard forks every six months to upgrade and improve the protocol. In most cases, these hard forks are uncontested with the whole community supporting them. In this case, however, consensus couldn’t be reached with two factions emerging, and proposing different solutions for the upgrade.

Don’t Let Numbers Fool You
Circuit Capital isn’t letting this news get the best of its research team. Partner Eugene Ng claims that people are concentrating too much on the prices of bitcoin and its crypto-cousins, but that behind closed doors, several institutional traders have become involved, and mainstream adoption is growing like nobody’s business.
Set to go live in the first quarter of 2019, Circuit has built a Bitcoin and cryptocurrency index that measures the adoption rates of blockchain technology amongst major corporations and businesses, and according to ten specific data points – i.e. the number of active crypto wallets, transaction volumes and web searchers for Bitcoin and related terms – the index is suggesting that crypto and blockchain adoption is spiking fast.
Good Things in the Coming Months
In a recent blog post, Ng mentioned that some of the other driving forces behind Bitcoin adoption are fund redemptions, a lagging retail presence, funds buying not by initial coin offerings (ICOs) but by equity, smart money shorting and positive news trends.
He further explains:
The most compelling market narrative for the next bullish cycle is that institutions will be the main catalyst driving the market. For these traditional entities to gain direct exposure to crypto, they must be able to trade, settle and store assets in an institutional-grade environment. I am excited for 2019 because the foundations for a marketplace will be laid. The buildout of this infrastructure will grow alongside clarity in regulations and regulated investment product offerings that will bring massive inflows of capital.
Will Bitcoin adoption continue to grow, or can we kiss goodbye to everyone’s favorite cryptocurrency? Post your comments below.

Images courtesy of ShutterStock
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Four More Fake Crypto Wallets Removed From Google Play Store

Android users remain subject to numerous malware threats. Criminals continue to target cryptocurrency users at every possible opportunity. A new batch of fake crypto apps has been identified on Google Play Store. Unsurprisingly, they all mask as legitimate wallets, despite having a more nefarious purpose.

New Google Play Store Threats Arise
For cryptocurrency users, mobile applications are a blessing and a curse. The added convenience is something many people tend to enjoy. At the same time, no mobile app can be taken at face value these days. This appears to be especially true where Google Play Store applications are concerned. Four new malicious applications have been identified by researchers this week.
All of the applications try to mimic legitimate altcoin wallet solutions. Two of the fake offerings purposefully target NEO users. One other is designed to defraud Tether’s USDT users. All of them have been installed several dozen times, which is incredibly worrying. While Google has removed the apps from the Play Store since then, it is another example of how easy it is to submit malicious crypto offerings.
The main purpose behind these wallets can be split into two camps. Either the criminals want to phish for information, such as login credentials or private keys. Another option is how thieves want to directly steal the cryptocurrency through a fake wallet offering. In the latter case, withdrawing funds from an in-wallet address becomes impossible.

The Emerging Trend Continues
This new incident joins a growing list of Android-related issues. Criminals have submitted fake Google Play Store apps for several months now. In all cases, they slip through Google’s security checks, for reasons unknown. Especially wallet applications prove particularly harmful in this department. It is difficult to distinguish a fake offering from the real deal under the circumstances.
The most worrisome aspect is how these applications become easier to create. Researchers confirm these four fake wallets are built using AppyBuilder. Its drag-and-drop interface lets anyone put together an Android application without coding knowledge. This creates many opportunities for criminals to explore. Storing cryptocurrency on mobile is slowly becoming a major security risk if this trend keeps up.
Cryptocurrency users remain a prime target for criminals. Despite falling prices, interest in Bitcoin and altcoins remains rather high. This also means a lot of new people are introduced to mobile wallet solutions. As Android remains the most popular mobile operating system, criminals have their targets for the picking. Especially if their app makes it to the Play Store without problems.
Have you been fooled into downloading one of these fake crypto apps before? What can / should Google be doing to combat this disturbing trend? Let us know in the comments below.

Images courtesy of Shutterstock
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Fortnite V-Bucks, Cryptocurrency Top Teens’ Christmas Wish List

The Christmas holidays are almost upon us and with it comes the inevitable question “what do you want for Christmas?” For teens in the United States, it seems two new trends are emerging. They either want V-Bucks for Fortnite or cryptocurrency. That latter part is somewhat surprising, though it also shows the maturity of Bitcoin and altcoins.

It’s All About Fortnite and Cryptocurrency
The popularity of Fortnite has not gone unnoticed. It is one of the hottest online free-to-play games around the world. Its native in-game currency, known as V-Bucks, lets players buy in-game items. One V-Buck is priced at $0.01, which makes it relatively easy to buy large amounts. This currency does not offer in-game advantages. Instead, it is primarily used for cosmetic purposes.
Given the popularity of Fortnite, its V-Bucks are in high demand. Teens, especially, tend to ask for them as a Christmas gift. This trend is noteworthy, as its demand surpasses cash, gift cards, or other gadgets. Only one other form of money comes even close in terms of popularity. Slowly but surely, more teens are warming up to the idea of owning cryptocurrencies.
How high the demand for cryptocurrency is exactly remains difficult to predict. Surveys are always relatively limited in terms of the number of people questioned so the results do not necessarily represent the sentiment of all US teens. Even so, cryptocurrency is on the rise in a significant manner. Together with V-Bucks, both forms of digital money seem to fit the digital-first way of living that teens engage in.

Cryptocurrency Makes for Great Gifts
Current cryptocurrency prices make for relatively appealing investments. Additionally, it makes it easier to gift Bitcoin or Ethereum to others. Combined with a paper wallet solution, they can make for a great present. Keeping cryptocurrency safe at all times needs to be a top priority. Paper wallets serve their role in this regard.
This new survey confirms the whims of teens are changing dramatically. They seem to favor the digital side of finance first and foremost. Physical money holds little value to them. More and more transactions occur in a digital manner, and Fortnite V-Bucks illustrate that point perfectly.
How teens plan to use cryptocurrencies, is anyone’s guess. The usability of Bitcoin and top altcoins remains incredibly limited. It seems teens mainly see Bitcoin as an investment for the future. Although current prices may not show it, there is a likely chance the markets will recover. Bitcoin reached a value of over $19,000 not that long ago. There is no reason to believe that will not happen again in the future.
Where does cryptocurrency rank on your Christmas list? Let us know in the comments below.

Images courtesy of Shutterstock
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WAY2BIT Attracts 2 Billion KRW Investment from Dunamu & Partners

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WAY2BIT Attracts 2 Billion KRW Investment from Dunamu & Partners
 
WAY2BIT (CEO Song Gyehan), developer of blockchain-based digital content platform BORA, announced the attainment of a two billion KRW (approximately two million USD) investment from Dunamu & Partners (CEO Lee Gang-joon) on November 9th.
WAY2BIT representative Song Gyehan explained:
“Recently, we have concluded a business agreement with various specialist companies including game developer companies such as ENP GAMES, UNIT5, and SuperTree, educational companies such as RS-EDUCONSULTING, and real estate companies such as Modutown.net Co. Ltd. for a blockchain ecosystem. This investment is the result of recognition in the growth potential of the BORA digital content platform.”
About WAY2BIT
WAY2BIT is the developer behind blockchain-based digital content platform BORA. The team consists of individuals who specialize in platform and service development, infrastructure construction and operation, and game production. The team recently released testnet “BORA Lagoon” in October and is speeding up development in anticipation for the official launch of the digital content platform “BORA Island” in Q2 2019.
WAY2BIT Attracts 2 Billion KRW Investment from Dunamu & Partners

MOAC Showcases Easy-To-Use APIs With First DAPP Launch

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MOAC Showcases Easy-To-Use APIs With First DAPP Launch
Mother of All Chains (MOAC), a layered multi-blockchain architecture, is an easy-to-use next-generation blockchain that incorporates a public MotherChain, additional MicroChains, sharding technology and agnostic consensus systems. David Chen, founder and CEO of MOAC, created Moodada as proof of just how easy it is to make and deploy low-cost and highly efficient DAPPs on the MOAC blockchain.
Moodada is currently available online and as an app on Android phones. It is a tokenized application that rewards users for answering questions. Participants can place a bounty on any question and crowdsource voters to determine the best response. Tokens placed in the bounty pool will automatically distribute to voters and responders in tiers based on criteria such as participation or best answer.
Chen and his team were able to build the completely decentralized Moodada application on MOAC, issue tokens and program the smart contracts in just a few weeks using template APIs. Through Moodada, Chen hopes to demonstrate how developers and everyday ordinary people can craft DAPPs with minimal effort on MOAC. He sais:
“Blockchain developers have had a hard time navigating rigid, clunky and disconnected systems of other blockchains. They want APIs that are easy to use and understand, and they want systems that are code and consensus agnostic. With MOAC, we can deploy custom MicroChains and run a variety of virtual machines. We have template APIs and have demonstrated more than 5,000 transactions per second with no transaction fees.”
Already MOAC has reached the top 100 charts on CoinMarketCap, led by enthusiastic developers and miners looking for alternatives to existing clunky and rigid blockchains.
Here are reasons why blockchain developers are migrating to MOAC:

Ease of Use – Developers can leverage MOAC APIs to create a MicroChain based DAPP with little effort. DAPP teams can focus on smart contract management without worrying about the underlying blockchain details. Also, MOAC smart contracts are compatible with Ethereum smart contracts, making project migration easy.
Transaction Speeds – MOAC has demonstrated more than 5,000 transactions per second across all MicroChains. The platform achieves this by offloading business logic into MicroChains, thus alleviating the processing and storage burden on the MotherChain. At full scale, the system could potentially support more than 100,000 transactions per second.
Costs – MOAC DAPPs can use a non-fee transaction feature in their MicroChains, which makes MOAC applications desirable for new user adoption. For DAPP developers, The MOAC Foundation provides subsidies to offset operation and maintenance costs in early DAPP operations.
Cross-chain Compatibility – MOAC provides a simple and reliable cross-chain function. The system can facilitate atomic swaps between tokens in the MotherChain and tokens in MicroChains. Also, MicroChains can cross-communicate allowing for collaborative decentralized applications.
Consensus Agnostic – MOAC uses a MotherChain (a proof-of-work based blockchain) and MicroChains for smart contracts supporting multiple consensus models. Currently, MOAC delivers two template types of MicroChain consensus protocols: one is ProcWind, a POS consensus-based MicroChain contract, and the other is FileStorm, a FileCoin-like consensus for decentralized file storage. Developers can tailor fit their application by choosing appropriate consensus mechanisms.

For those who would like to learn more, MOAC has created a weekly Online Community Webinar. There, developers and MOAC enthusiasts can meet the MOAC team and discuss upcoming projects, platform features and general updates. The webinar begins Saturday, November 17, 3 p.m. to 4:30 p.m. PST.
About MOAC
Mother of All Chains (or MOAC) is a layered multi-blockchain architecture. The MOAC Platform consists of a global primary blockchain, or MotherChain, and additional MicroChains. Using blockchain sharding technology, a MicroChain functions as a child blockchain within the platform that operates above the global MotherChain and is responsible for smart contracts management. MicroChains also enable high volume transactions using a variety of consensus systems. MOAC not only addresses the performance and cost issues with existing blockchain systems, including Bitcoin and Ethereum, but also introduces new features that minimize the barrier to entry for developers, users, businesses, and the entirety of the blockchain ecosystem.
MOAC Showcases Easy-To-Use APIs With First DAPP Launch

FinTech on the Block is Bringing Fintech Leaders Together

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FinTech on the Block is Bringing Fintech Leaders Together
FinTech on the Block (FTOB) Conference and TokenExpo is a two-day event that assembles the leading Finance, FinTech and Blockchain players as well as private and institutional investors. We are proud to host Jeff Thomas (Vice President of Nasdaq’s Listing Services), Tim Draper (Founder of Draper Associates), Kaushalya Somasundaram (Head of Fintech Partnerships at HSBC), Chris Britt (Co-founder of Chime), Sam Cassatt (Chief Strategy Officer at ConsenSys), Guy Hirsch (USA Managing director of eToro) and others among our speakers. The event will take place on November 27-28 in San Francisco and will bond over 1500 delegates and 80 speakers that make up the foundation of the fintech and blockchain ecosystems.
The Forum will feature panel discussions, networking sessions, workshops and a VIP party. There also will be an EXPO with the latest fintech developments.
During the two-day event, venture capitalists, leading fintech startups and top-10 banks representatives will be discussing the evolution and future of money, adoption of blockchain in finance, cybersecurity, regulation in the Fintech and Blockchain industries and other emerging trends that are disrupting traditional banking and financial industry.
Discounted Tickets for Our Readers
As our valued reader, you get discounted tickets to FinTech on the Block event on November 27-28, 2018 in San-Francisco. To get your discount, please apply Promo Code Coinspeaker20 for the event.
FinTech on the Block is Bringing Fintech Leaders Together