Bitcoin’s Price Surmounting Over $8000

The crypto major Bitcoin leads all cryptocurrencies even though surmounting on price!!

The crypto major Bitcoin (BTC) is surmounting its price moments that can best be explained from the below graph that shows the price moment of Bitcoin since the 1st of July where it stands $6347.86 and today it stands $8093.33 after dropping below $7900 just recently.

 

 

Source: CoinDesk

As per the most valid source of CoinDesk where it claims for the price of crypto major Bitcoin that started gaining the bullish momentum upwards $8350 based on the analytical charts. However, presently it is mined just above $8000 that clearly shows its sign of consolidation.

If we focus more on the analytical part, the price has reverted back above $8000 on Friday. Needless to say that the BTC mining traded just sideways over the last 60 hours as per the report. Bitcoin’s (BTC) price is unified in a narrow range at the time of media time, and thereafter it regained bullish moment where it reached around $8350.

On 30th July, the consolidation streamlined the bullish scenario especially when the price movement from narrow $250 trading range, and at a time of press it traded at $8170 on Bitfinex. The price movement on Friday, the BTC price observed a downward pressure, however finally it reached again at the level of $8507 on 24th July. The major moving averages are more inclined towards the bulls. The relative strengths index will not indicate BTC’s higher purchased having said that it would be in the range upwards $8500 and the 10 days moving average is also in favor the bulls rally.

As per the valid source of CoinDesk, the Bitcoin is said to be extreme fatigue situation when we analyze its price movement especially when it compared against the backdrop of the downward channel breakout. Let us not forget that the immediate bullish scenario has been quite neutral. According to CoinDesk, the break upper end of the sideways channel where the Bitcoin is mined would definitely allow a re-test (e.g. 200-day moving average). A daily close as per UTC upwards 200-day moving average confirms a long run upward trend. On the contrary, the downward pressure that broadens the channel would create a shift in risk that favors a deeper price pulling back to the 100 candles moving average that stands at $7496.

The current scenario shows the sideways pattern that has already broken as BTC slashed below $8000. But the price regained quickly to above $8000 mark as on 31st July. This is, of course, the high range today and we can expect to be over $8000 level. No re-test upwards of $8468 has been observed so far.

 

XRP Led Cryptocurrency Exchange By AlphaPoint

AlphaPoint which is one of the renowned cryptocurrency services and advisory firms will be powering and organizing a newly set-up decentralized exchange as per the valid source of the company. As per the company’s source, DCEX which is a San Francisco based marketplace has opened registration for its platform. However, clients will not be able to initiate its trading activities over the next few weeks.

On the transactional summary front, the exchange uses XRP as its base currency for the variety of transaction. Having said that there are many trading pairs that are denominated in the third largest cryptocurrency by market cap as said by the CEO of Alpha Point. With this, DCEX has announced to offer collectively 15 trading pairs that also included XRP, Litecoin, Bitcoin, Ethereum Classic, Vechain Zcash among other cryptocurrencies. Additionally, it will include ADA and NEO trading pairs in a month time. Besides all this in place, DCEX received the access to 10 coins listed in the Bloomberg Galaxy Crypto Index that included EOS, Dash, Monero, etc.

The exchange is organized on AlphaPont’s distributed ledger with XRP as a base to execute funds related transactions faster with low transaction costs. The XRP ledger is designed for organizing high execution speeds and transaction settled in a couple of seconds that adds value to traders. The newly set up crypto exchanges was made it public the moment after AlphaPoint successfully raised $15million through first round venture capital funding. The capital raised through Galaxy Digital that is the cryptocurrency merchant bank owned by Mike Novogratz a billion dollar investor.

 

The Shift In Senior Management Team By AXEL

The technology solutions provider on digital data and content perspectives, AXEL appointed Michael Conn as the Chief Strategy Officer that leads and executes the upcoming launch of AXEL Token and organizing its blockchain platform.

Micahel Conn who is going to leverage his strong domain expertise on blockchain technology and cryptocurrency will add value towards the AXEL’s blockchain venture said by the Chief Technology Officer & President of the company, Ben Ow.

Besides, Conn will be responsible to impart its major interest in the institutional blockchain and cryptocurrency from around the world. With this, he will strongly keep an eye on the upcoming Token Generation Event to be organized at the company and would strive for growth of the AXEL Token.

Erstwhile, Michael Conn served as the co-founder and Chief Financial Officer of Ether Capital which was the first Ethereum based publicly traded company that raised USD45 million through a private placement.

AXEL allows its users to use their data which are easy to use through the patented technology solutions for file sharing, access, transfer, security, and privacy thereby streamlining and integrating on the secured platform–Blockchain-Technology.

Cryptocurrency Mining Apps Warns from Google

The global search engine driver – Google has redefined its Play Store policies especially for mining cryptocurrencies like Bitcoin, XRP, Ethereum following the same step, was taken by Apple that updated its policies pertaining to App Store Review Guidelines by introducing the new section restricting of cryptocurrency mining apps.

 

Google’s step towards updating Play Store policies & guidelines has been very clear when it comes to using apps that handle Cryptocurrencies and related transaction. However, the restricted policy in place by Google, it is also allowing apps which remotely manage the mining of digital currencies.

 

The Google steps remarkably the same what Apple did in its guidelines. The excerpt from the Apple’s Guidelines as follows:

 

“Mining is performed in the cloud or otherwise off-device”.

 

Google reviewed all those apps that have proved to be offensive material in themselves. It restricted all those apps that are believed to be in the line of violence, self-harm, hate speech among others.

The Android technology platform having around two billion monthly users in the first half of 2018, whereas Google’s Play Store has seen more than 35 billion apps downloaded. However, there are a variety of apps on Google Play Store that uses smartphones processing power to mine and transact cryptocurrencies. The more critical is the Cryptojacking that affect several apps today especially when scammers insert the mining software into other apps.

 

No matter which technology you use, Google is always inclined towards the best control system in place that allows users to be with it for a longer period of time!!

 

Malta’s New Regulatory Framework is announced

Now that the Blockchain industry has become well-known through its value-added activities in place, the regulatory authorities worldwide have commenced and updated their framework that makes the perspective more practicable and fashionable in the today’s competitive world. As per the valid source, the Malta Chamber of Commerce and Enterprise and Industry in a joint intellectual effort with EMCS executed the informative session about the new buzzword – Blockchain Legislation that was approved by the Maltese Parliament just recently.

 

While addressing the recent event called ‘Blockchain – The New Regulatory Framework’, according to Malta Chamber of Commerce, Enterprise and Industry’s president – Frank V. Farrugia, “the Blockchain technology has a great potential to create the new foundations for global economic and social systems except than to be a disruptive force for traditional business models”. In short, the blockchain technology can change the dynamics of the business models of the industry by adding most value-added process like, a decentralized platform that makes transaction smoother, transparent and faster.

 

Additionally, he added that the blockchain system provides corporations worldwide with efficiencies in global supply chains, financial transactions with decentralized social networks in place. He said that it was the right step toward the new development in blockchain industry by genuinely welcoming the recently approved regulatory framework.

 

When we discuss the strategic profile of Malta, it is one of the first countries to implement regulatory frameworks in order to attract new capital investments likewise how it organized in the past in a variety of sectors like aviation, financial services, gaming, pharmaceutical companies. As per the valid source, Silva Schembri said that “Malta is one of the first world jurisdictions that offers a completely holistic approach to regulate Distributed Ledger Technology”.  Based on the conversation of Schembri, we can expect  that the upcoming policy framework will definitely attract more investors from around the world thereby creating Malta one of the investment horizon landscape. The world will come to know that how far Malta has reached to be an innovation pioneer!

 

Besides this, the establishment of the Malta Digital Innovation Authority (MDIA) will focus on innovative technology arrangements and their uses. Initially, the authority will undertake all those tasks that focus on Distributed Ledger Technology and related smart contracts. However, at present, the authority keeps an eye on laws and regulations pertaining to public consultations and collecting feedback regarding the industry. The new technology will impact a variety of industries for sure. According to analysts community in Malta, they see the proposed regulatory framework to ensure to protect investors interest thereby promoting market integrity and safeguarding financial stability.

 

As per Dr. Sapiano’s comments towards the policy framework, he says that “operators should follow certain ethical requirements pertaining to anti-money laundering transactions among others ethical standards in place”.

 

 

In a technical presentation explaining the Virtual Financial Assets Act delivered by Silvan Mifsud – a senior manager at the EMCS advisory services, he explained “how Distributed Ledger Technology assets under the Act with licensing process of ICOs and that of Virtual Financial Assets service providers with the financial instrument test and the anti-money laundering requirements in place”.

 

Needless to say that the MDIA Act in Malta focuses on guiding principles for the authority in supporting the development of innovative technology. The banks and financial institutions will see the progress in the space of Distributed Ledger Technology as banks are always inclined to utilize innovative technology for their customers and so they may pass the benefits of the technology for their customers according to the Chief Business Development officer at Bank of Valletta, Kenneth Farrugia. And not only that, the Distributed Ledger Technology will offer its solution on a variety of perspectives like operational efficiency through automation, customer experience through cost savings among others benefits in place. However, the banks have to analyze the benefits of the technology from a variety of angels advised by Mr. Farrugia.

 

In a nutshell, Malta will create a competitive advantage by gaining first mover’s advantage on global perspectives with proper regulations in place, especially for blockchain industry.

 

Let us not forget that the long-term story for the blockchain industry is so awesome. So be patient and reap the incremental benefits when they accrue!!

 

Oracle Blockchain Surmounting 50% Revenue Growth

The pinnacle of 50% revenue growth expected from the adoption of Oracle Blockchain Cloud Services by the Nigerian Customer Service. As per the valid source from Nigeria Customs Service, Aber T Benjamin an Assistant Comptroller – General Modernisation, he said that his organization used Oracle’s blockchain to build a trusted platform for the automation of Customs Excise Trade business processes and procedures. Additionally, he said that while using the blockchain technology, the entire business environment will be moved to blockchain to automate processes thereby creating transparency and predictability. Once the process transition is completed successfully, the revenue growth can increase by about 50 percent as predicted by Nigerian Customer Service.

The technology will definitely help to create a trustworthy business through undeniable data on goods manufactured in the country. On strategic front, the successful completion of the Proof of Concept, the entire business environment of Customs can be moved to blockchain in order to automate as much customs processes as possible thereby creating accountability, transparency, and predictability. On the financial number front, Nigerian Customer Services recorded revenue upwards of N1 trillion last year as compared the budgeted revenue of N770 billion. Needless to say that the blockchain technology-led business is more secure with the efficient supply chain management on a global basis as the technology is used where it allows to transacting with cryptocurrencies.

According to Oracle Cloud Platform’s Executive Vice President Amit Zaveri, “the blockchain technology has the power to change the dynamics of the businesses and to transform each and every transaction more cost effective and transparent manner”. With this, Oracle Blockchain Cloud Service provides customers with a developed platform to build their own networks and to quickly integrate with Oracle PaaS and third-party applications that they use. It enables users in a variety of ways like deploying and running smart contracts to update and query the ledger system, joining other organizations.  Additionally, the Oracle’s blockchain platform leverages the company’s decades of experience across multiple industry verticals as well as an extensive partner ecosystem to reliably execute transactions with all stakeholders like banks, suppliers among others.

As soon as the business incorporates the technology like blockchain, it becomes transformative. Now that Oracle’s platform in place, any enterprises can enhance their business by eliminating unnecessary hurdles, processes and executing transaction through the distributed networks more transparently. It also helps accelerate time to market and multiple returns with the help of the most value-added technology blockchain. According to Robert Parker, a Group Vice President of Manufacturing and Retail Insights at IDC, “Blockchain projects are quickly becoming the mainstream activities where both enterprises and governments would see the inherent value of distributed ledgers and smart contracts”.

Let us not forget that when in business with capital expenditure in place, company would require an enterprise-class platform that creates values including data security, integrity, scalability beyond open source. So you must be prepared to reap the enormous benefits of Blockchain technology thereby creating value to your enterprise and to all your stakeholders!!

 

Coinbase Partners with Digital Gift Card Platform

Coinbase, a digital currency exchange headquartered in San Francisco, California introduced a Gift Card features for its British, Australian and European clients as on 25th July 2018. So from now onwards, customers can buy a variety of gift cards through supported cryptocurrencies. It was a major development to the Coinbase to streamline its global clientele.

 

This development will bring cryptocurrencies to the mass markets sprawling worldwide. As per the official source of the company, Coinbase has partnered with London-based WeGift a digital platform that has tie-ups with more than 120 retailers across the U.K. This is one of the strategic steps that the company has taken recently.

 

The business model of WeGift predominates such that it offers real-time, on-demand digital gift cards to customers powered by a unique API that enables transactions of branded gift cards in any amount across partners.

 

Needless to say that the strategic partnership provides a vital role for economy especially for those who incline to spend cryptocurrencies instead of holding them in their portfolio. Though the point of sale for cryptocurrencies for products and services bought in exchange for digital currencies remains a destitute sector. On the whole, the partnership opens a strategic avenue for both the players.

 

 

Besides this, WeGift’s gift cards offer a small Bonus percentage ranging from one to nine to all those users that use cryptocurrencies for the purchase of WeGift gift cards. Additionally, Coinbase will charge no fees on any transactions made in this space thereby it enhances the mass use of cryptocurrencies. On the side of WeGift’s partnership front, it has a very good partners in a place like Nike, Uber, Google Play, Ticketmaster among others 116 prominent retailers in place. The most benefits of this partnership will be reaped by the customers who would potentially download an application to book a ride to shop for any items while using their cryptocurrency.

 

However, currently, the service is available to Coinbase users in the selected countries like the UK, Spain, Italy, the Netherlands, France, and Australia.  On the transaction front especially for the payments, it can be done through Coinbase listed digital currencies like Bitcoin (BTC), Litecoin (LTC), Ether (ETH), Bitcoin Cash (BCH), Ethereum Classic (ETC), etc.

 

The strategic move transiting especially at a time when Coinbase has conflict within the organization of insider trading. As per the valid source of BTC Manager, it was under the limelight in 2017 concerning the issues prevalent with its employees involved in insider trading scandal just before the listing of Bitcoin Cash executed. However, the exchange sought the two third-party law firms had completed their external audits pertaining to the matter and no concrete evidence of malpractice was found.

 

Trading Cap Organized by Japanese Cryptocurrency

The cryptocurrency scenario in the Eastern part of the world has seen some compliance related changes. In Japan, it would become mandatory for the exchange operators to set ceilings on customer trading as per the valid source of the Japan Virtual Currency Exchange Association. The association will soon file for Financial Services Agency approval in order to be recognized and self-regulated body under the payment services law in Japan.

The rule specifies for transaction, where it aims to prevent all those cryptocurrency traders that trade with the small assets and that are suffering from heavy losses and facing complexities with inadequate cash-flows to pay regular expenses.

As per the valid source, the industry group will allow exchange operators to select either of the options that will prevail transaction satisfactorily. The limit based options specified by the industry group where particular limits are set for different customers group based on their age, assets, income, among other parameters. On the contrary, another option is to place a blanket ceiling low for the safety of customers with limited assets.  With this, the industry group has certain mechanism in place where minors have to get permission from parents or other respective guardians especially when they start trading activities, as well as it prohibits margin trading in principle and demanding regular checks on the decision making ability of elders. Besides this, the group may restrict large contracts as a measure against unethical practices like money laundering, etc.

On the whole, the industry group would like that all the transactions run while holding an ethical approach. Because when it comes to trade or transact either in capital market or crypto market, one has to hold medium to a long-term approach.

 

The hype of investors in the US for the Crypto major Bitcoin

The Blockchain industry has enticed everyone ranging from investors to corporate to advisers that advice the completely new concept has existed that adds value. However, as per the valid source of the USA’s renowned Index – Wells Fargo Gallup Investor and Retirement Optimism only 2 percent of Americans own Bitcoin. The poll is conducted on US adults that have exposure of at least $10,000 and above investment in their portfolio in a variety of investment class ranging from stocks, bonds, mutual funds, etc.  As compared to adult investors, the young investors are more inclined to add crypto major Bitcoin in their portfolio as mainstream. The survey – Investor and Retirement Optimism Index was organized by Gallup Investor poll in the month of May 2018 were approximately 1921 American investors took part. The Bitcoin has been proved to be the leading form of digital cryptocurrency that has seen many ups and downs ranging from price crash, soar, rise in the past year, however, eventually it has created the forward movement for the US investors.

As per the Wells Fargo/Gallup Poll, the excerpts from the report as follows:

“Just 2% of investors say they currently own Bitcoin, and less than 1% plan to buy it in the near future. While most investors say they have no interest in ever buying Bitcoin, about one in four (26%) say they are intrigued by it but won’t be buying it anytime soon”.

Based on the analytics of the report, 75 percent of investors refer to cryptocurrencies as a risky one, on the contrary, 23 percent investors found the cryptocurrencies as somewhat risky, whereas 2 percent amongst all the investors said that the investment in cryptocurrency is not too risky. Only 0.5 percent of investors have stated their interest in investment in cryptocurrencies is not risky at all. When it comes to investment in digital currency like cryptocurrencies, the most US investors prefer the cryptocurrencies as security over growth while playing the safest investment with them.

If we focus more on research report conducted by Wells Fargo, three out of ten investors know about blockchain industry and cryptocurrency, whereas 67 percent are still to learn about the concept. At last 5 percent are all those people that have not heard anything about cryptocurrencies.

Now that the Cryptocurrencies has started gaining the attraction of investors from all over the world, the best part of the scenario is how it plays a vital role in investors’ portfolio planning process in the US and rest of the countries going forward!!

 

 

Incremental Size of Cryptocurrencies in 2018

Now that the Blockchain technology has become omnipresent, the number of active crypto funds has exceeded to 312 increased by 24% (approx.) as per the valid source of Autonomous Next – an Analytics firm. The growth was seen much higher since 2016 by 456%, and 791% since 2015 as per the valid source. Let us not forget that the year 2018 has received the lowest percentage of increase in cryptocurrency funds year over year basis. The analytics report shows that the majority of newly build-up crypto funds started their operation during the second quarter of 2018. On the contrary, only 20 funds initiated their operation in the first quarter.

Besides the incremental size in percentage terms, the collective value of all cryptocurrency funds stand around $7.5-$10 billion. On the analytical perspective, the industry has been quite centralized while around 10 largest firms contributed approximately 43% of total industry capital whereas 80% capital contributed by the 50 largest firms in the crypto industry.

Stimulate the growth of Cryptocurrency Funds

Likewise capital market, the crypto market has common fundamentals like geopolitical factors, macroeconomic factors that affect the price of cryptocurrencies and growth of the industry. When the news like Van Eck’s application for Bitcoin led ETF with the SEC aired in the market, so it  affected the entire industry most positively. The number of cryptocurrencies is increasing by leaps and bounds. The crypto major Bitcoin is contributed about 1% of the entire Gold market. As per the valid source of CoinMarketCap, there are 1691 cryptocurrencies are traded on12166 markets worldwide.

Let us not forget that the cryptocurrencies have just got their edge and already become well-known amongst the investors’ community worldwide. However, they still have a long way to go!!