Current state of the crypto market

Current state of the crypto market

Throughout this article, I would like to alert you to the danger of wanting to invest or buy on the price zones where we are currently on crypto-currencies, and mainly on Bitcoin. Although I am convinced of the long-term upside potential of cryptocurrencies, which should also be called crypto-assets, I nevertheless believe that the recent price structure should sound the alarm.

Bitcoin has seen its value increase by nearly 250% in 6 months almost in a straight line, with no pullback or correction as you can see in the following graph.

 

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After a bullish run of nearly 6 months, a surge of nearly 250% and a 50% retracement of Fibonacci of all its previous crack, I think the bullish potential is exhausted and a long correction awaits us.

 

This price structure is very strange because it is particularly parabolic for an end-of-crack recovery. We are definitely in a bullish trend, but I think this momentum is coming to an end and I find some posts and answers of so-called investors on the Internet that predict, like real gurus, that BTC will be at $200,000 at the end of the year, dangerous.

 

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The completely parabolic structure of recent months should alert you to a potential price reversal or, at the very least, should encourage you not to invest now or even to pull out some of your positions for those who have entered lower.

 

As you know, if you are interested in the field of finance and financial markets, the market rarely moves from point A to point B. Generally, it proceeds by bullish impulses, followed by downward corrections, then moves on to new phases of impulses, etc. That being said, one of the exceptions to these impulsive phases – corrective phases- is precisely the structure of the “bubble”.

But what we have to do lately reminds me of the 2017 bubble: the parabolic pattern into which many investors have rushed, encouraged by a completely irrational rise in prices and reinforced by the mass media that promised them gold and glitter. The end of the story, we all know it: many people have bought at $15K or $17K and found themselves stuck holding a permanently falling asset, and who still took a year to finish its crack.

This is a basic rule that unfortunately, too few people respect: buy low to sell high.

However, as you can see in the following picture, the prices are definitely not low.

 

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If we average the increase of the first 19 crypto-currencies (we voluntarily forget Tether), the increase is ”only” 166% … in 6 months…

That’s the reason why I’m looking for a short entry. I am, to be frank, very surprised by the bullish potential, especially of Bitcoin in recent months. Unfortunately, all for a purpose and I doubt that wise investors are buying at these prices. I can even tell you that it is very likely that they are currently selling the disillusioned individuals who are having fun returning home now thinking that ” Trees grow to the sky”.

Again, it’s all about timing. I’m not saying the prices are going to turn around here.

Perhaps we will go higher, visit the Fibonacci 61.80 % retracement located around $13,440. In trading and investment, everything is always possible.

I just think that the areas we are currently treating are good for sales/short and I would like to share my impressions with you and advise you to be as cautious as possible about all this bullshit you can read on the Internet and on social networks – some of them, let’s face it, will at least have made us laugh -.

 

 

 

19% of the population reportedly purchased cryptocurrencies before 2019

19% of the population reportedly purchased cryptocurrencies before 2019

This is a new survey conducted by the cyber security company Kaspery Lab, the study dates to June 17 and it reveals that 19% of people in the world have already purchased cryptocurrency.

This survey was conducted using a questionnaire between October and November 2018 with 13434 respondents from more than 22 countries.

According to the same report, only 10% of respondents fully understand how cryptocurrencies work.

We also learn that 14% of those who have never used cryptocurrency would like to do so in the future. A figure that has certainly increased since the new enthusiasm generated by the announcement of Libra Facebook’s new cryptocurrency.

Respondents who had stopped using cryptocurrencies judged 31% of them to be too much volatile, there is a real demand for stability from users (which will be the path taken by Libra).

23% of respondents considered that cryptocurrencies were no longer profitable, particularly due to the bear market that cryptocurrencies may have experienced in 2018.

22% of respondents stated that the main reason they stopped using cryptocurrencies was mainly because they were not backed by a real asset (such as gold for example).

The reasons related to piracy and fraud are in last place, accounting for only 19 and 15% of respondents

The Kaspersky team also adds that the adoption of cryptocurrencies has slowed down due in part to a lack of understanding of how they work.

 

Another survey by the same company notes that nearly 12% of American investors are long-term investors.

 

Now we just have to wait and see the impact that the Libra coin will have on these figures.

To be continued.

Block.one buys the domain name “voice.com” for more than $30M

Block.one buys the domain name “voice.com” for more than $30M

Block.one is the start-up that created the EOS Blockchain, the objective of this platform is to provide decentralized application hosting, with the ability to execute intelligent contracts and decentralized storage enterprise solutions that solve blockchain scalability problems such as Ethereum and Bitcoin.

The US Securities and Exchange Commission (SEC) announced that the domain name “Voice.com” would have been sold for more than $30M.

This transaction was managed by the hosting company GoDaddy.

This purchase may seem totally incredible, but it was very thoughtful. A few weeks ago, Block.one announced “Voice”, a social network entirely based on the Blockchain to “give control back to the users“.

“Voice” is a word that is recognized worldwide, and it also refers to billions of results on the Internet. It is also an asset to help the company to link this word to its company. It is certainly a risky bet, but far from being silly.

Short words in domain names are very expensive because they are very easy to remember.

However, we are not really worried about them, in fact, the ICO of EOS brings more than $400 million for the team behind the project.

Those number makes us feel dizzy.

The US Congress wishes to push the launch of Libra

The US Congress wishes to push the launch of Libra

As we expressed this morning the mistrust of the French Minister of Economy, Bruno Le Maire, towards the Libra cryptocurrency, which will certainly disrupt the economy of tomorrow. See the article in question by clicking here.

This time it’s the US Senate that’s not very enthusiastic about seeing potential currency reach more than 2.3 billion people. Indeed, we remind you that this cryptocurrency will be usable on What’s App and Messenger.

But will certainly be usable on partners such as:

  • Payments: Mastercard, PayPal, PayU (Naspers’ fintech arm), Stripe, Visa
  • Technologies and marketplaces: Booking Holdings, eBay, Facebook/Calibra, Farfetch, Lyft, Mercado Pago, Spotify AB, Uber Technologies, Inc.
  • Telecommunications: Iliad, Vodafone Group
  • Blockchain: Anchorage, Bison Trails, Coinbase, Inc., Xapo Holdings Limited
  • Venture capital: Andreessen Horowitz, Breakthrough Initiatives, Ribbit Capital, Thrive Capital, Union Square Ventures
  • Non-profit organizations, multilateral organizations and academic institutions: Creative Destruction Lab, Kiva, Mercy Corps, Women’s World Bankin

If you want to learn more about the Libra, click here to see a short analysis of the whitepaper.

This currency will be beyond the control of central banks, and potentially the tax authorities.

Sherrod Brown, the American senator who sits on the Senate Banking Committee, considers that Facebook has become “too big and too powerful” and doesn’t want to allow Facebook to manage a new currency that could end up on “a Swiss bank account under surveillance“.

Great Britain remains attentive but skeptical.

The Governor of the Central Bank of Great Britain wants this cryptocurrency to be subject to the strictest regulatory standards. Others are more skeptical about the success of this currency, one of the officials of the Financial Conduct Authority ensures that the country already has a cheap, fast and efficient payment system.

To be continued.

Bruno Le Maire argues that Facebook’s Crypto Libra should not become a sovereign currency

Bruno Le Maire argues that Facebook’s Crypto Libra should not become a sovereign currency

Since Facebook’s announcement about its cryptocurrency called “Libra“, the web and the media have been panicking. We have also made a first return of the Libra whitepaper.

The French Minister of Finance, Bruno Le Maire, told on French radio that this cryptocurrency will not work as a sovereign currency.

Indeed, Libra’s entry into the market raises many economic issues for the various countries. It’s the first time that a cryptocurrency has this strike force,in fact, this is supported by us, Mastercard, Paypal, PayU, Stripe, Visa, Booking, eBay, Spotify, Uber… Economically, Libra should therefore impose itself as a cryptocurrency, and this is beginning to scare the various governments.

Mr. Le Maire is mainly concerned about the regulations and status of this currency.

In addition, with more than 2.3 billion potential users, Libra could question the control of banks over commercial transactions as well as the role of the state in the banking system. The loss of monetary power afraid the states.

Mr. Le Maire, beyond the general warnings, demands different guarantees from Facebook, he wants the guarantee that the currency will not be diverted into terrorist financing or any other illegal activities.

In addition, Bruno Le Marie has also announced its intention to learn more about the project at the G7 meeting with central bankers in the coming months.

Also, he expressed these concerns about the use of the data that will be held by Facebook. We have also expressed our concerns about the use of the data at the end of this article.

We still feel a certain pressure from the various governments… Let’s see where this story leads us.

To be continued.

Bowtie-Barber, Blockchain and Haute couture ?

Bowtie-Barber, Blockchain and Haute couture ?

Launch planned in 2019 for Bowtie Barber, Aurore Petit’s startup, a simple concept, bring men and women fond of fashion, a new and trending accessory. But that’s not it, in partnership with Swarovski, Aurore wants to get involved against the counterfeiting market, that is worth over 500 billion USD, by bringing a solution of traceability using Blockchain.

“Bowtie-barber is the perfect alliance between creativity, elegance, haute couture and technology”

 

SOFTWARES

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Bowtie Barber proposes two softwares, an application for customers and a software for professionals.

The application would allow customers to realise usual manoeuvres such as the purchase of a product, the tracking but also to learn more about it. Indeed, the application would possess a QR Code scanner allowing a customer to check an accessory to obtain useful informations on it. The aim is to allow customers to authenticate this product, know its the materials used to make it, if its respecting Fair Trade and what is its ecological footprint.

The software, aimed at professionals, will offer important informations related to the traceability of a product on the supply chain, its production location, production materials and its journey on the supply chain. This software also includes the possibility to send informations between partners with a simple click.

These softwares aim at blocking the path of counterfeiting actors and simplify tasks on the supply chain, but also to guarantee that a product complies with the ecological and fair trade specifications. First, used by Bowtie Barber then marketed to different brands on the same market.

BOW TIE WITH SWAROVSKI

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Bowtie-Barber’s original concept, this patented bow tie moustache shaped can be found under various forms, a “full” form and a “hybrid” form, each with their own particularities but preserving the original shape, signature product of Bowtie Barber. In partnership with Swarovski, a particular bow tie using its diamonds, Bowtie Barber is allied with an important partner in the aim to bring an original and trending accessory on the market.

“Haute couture in a moustache bow tie”

Under Quorum

Quorum uses a consensus based on a RAFT and Istanbul BFT (a consensus algorithm based on the algorithm Practical Byzantine Fault Tolerant Algorithm), that allows fast speed and faster transactions with a debit superior to the one of decentralized Blockchains. It should be noted that Quorum is a private database intended to be used by private applications, it is only modifiable by authorized individuals and benefits from more safety. An accurate choice for Bowtie’s project.

Development

Already 130 000 USB raided for Bowtie Barber thanks to the Bow Token sales, the project is in progress.
Softwares development planned for the end of 2019.

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Bowtie Barber, BOW APP and BOW Software, interesting projects with important objectives whose potential can have a real impact on the luxury sector. With an experimented team and an important partnership with Swarovski, Bowtie Barber has maximized its chances of success in the achievement of its project.