Should Bitcoin Fall to $10,600, a Move Under $10,000 is Likely

Price Outlook

Hours ago, Bitcoin was trading at $10,800, down over 5% on the day as a result of overwhelming sell-side pressure. But, all of a sudden, the cryptocurrency bounced, gaining around 4% in minutes. And as of the time of writing this, BTC sits at $11,300, down 2% in the past 24 hours. levels investors be watching out for?

Well, according to Jacob Canfield, a popular trader, all eyes should be in and around $10,600 right now. This level is where Bitcoin’s 200 exponential moving average (EMA) meets the 0.236 Fibonacci Retracement of $14,000 and an uptrend. If BTC loses the 200 EMA, which has acted as clear support since February of this year, Canfield notes that Bitcoin could see a sharper correction to the also important 50 moving average around $9,900.

And right now, the outlook for some traders seems to be more downside. As seen below, Level’s Josh Rager noted that Saturday’s candle was not entirely bullish, in that it closed under the weekly resistance zone, which sits around $11,400 and $11,500. And, Rager noted yesterday that if BTC doesn’t manage to hold $10,900, bulls may lose hope.

Also, Bitcoin, according to Chonis, is forming a clear head and shoulders pattern on its four-hour chart, one that some say will break down due to selling pressure.

Also, Peter Brandt notes that Bitcoin’s parabolic pattern, which originated in December of last year, has finally broken.

With this, some are wary that a large correction could ensue, one that could bring Bitcoin back to $7,000 or even pre-rally levels in the $4,000s and $5,000s.

You see, when parabolas correct in financial markets, they correct hard. In Bitcoin’s case, this is especially relevant, as it exists as an early-stage asset that is hyper-volatile and reflexive.

As Brandt, a legendary commodities trader, recently quipped, a violation of the parabola could send BTC falling back to Earth. In fact, he quipped in a tweet that the cryptocurrency could lose 80% of its year-to-date high value:

“If current parabolic phase is violated, we could expect either an 80% correction of 7-month advance or much smaller correction w/ definition of new parabola w/ shallower slope. $BTC Note formation of possible 2-wk H&S or H&S failure”, the long-term Bitcoin proponent wrote.

Title Image Courtesy of Andre Francois Mckenzie Via Unsplash

Should Bitcoin Fall to $10,600, a Move Under $10,000 is Likely

Should Bitcoin Fall to $10,600, a Move Under $10,000 is Likely

This article was originally posted on  World News – an independent news provider covereing , , Ripple, Litecoin dApps, start-off ICO’s and the whole Blockchain […]
Source: cryptonewsmonitor
Should Bitcoin Fall to ,600, a Move Under ,000 is Likely

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Should Rockstar Games Even Release GTA VI?

The gaming community eagerly awaits the release – or the announcement of the release – of GTA VI. The sixth installment in the series is met with a lot of hype and excitement, even though have never officially confirmed they will make a new game. In fact, are several reasons as to why they don’t need to right away. 

The GTA Saga Seems Complete

Throughout the past few decades, there have been five “major” GTA games and a few minor “spinoffs” and expansions. Ever since the first game was released, the series gained a cult following which only kept growing year after year. There are a certain thrill and excitement associated with stealing cars, beating up people, and making money as a full-time criminal in the world of Grand Theft Auto.

In more recent installments. Rockstar Games decided to finetune the core principles and even expand upon them. This all culminated in GTA V where many players spent more time watching TV in-game compared to actually playing missions or doing exploration. It is the ultimate version of the Grand Theft Auto franchise, and topping it will be very difficult, if not virtually impossible. It is always a good idea to end on a high note, thus GTA VI might never see the light of day. 

GTA V Keeps Selling Well

From a financial point of view, Rockstar Games is still making a ton of money every single year. The game continues to show up in video game sales rankings around the globe, even if its price hasn’t necessarily decreased all that much. A lot of players also own the game across multiple systems, simply because they cannot get enough of it. With over $6bn in revenue generated to date, there is no financial pressure to launch GTA VI now or in the near future. 

GTA Online is Still a Thing

While most players have rather mixed feelings regarding GTA Online, it is another cash cow for Rockstar Games at this time. So much even that the developer might not worry too much about adding another chapter to the beloved Grand Theft Auto Franchise. While not everyone agrees that this business model is fun or even worth spending money on, it is a reliable source of income for quite some time now. 

Lots of Rumors but no Substance

As is usually the case when there are only unconfirmed expectations and suspicions, GTA VI has not been officially announced by Rockstar Games. Nor is the company intent on sharing much information on whether or not the title is even in development. Given how Red Dead Redemption came out under a year ago, it seems normal the company will focus its attention on adding more content for that game first and foremost. 

Unfortunately for GTA VI enthusiasts, that also means no official release date will be made apparent anytime soon. The game was not announced at E3, and it seems rather unlikely that will change later this year. Rest assured some media outlets will keep the rumor mill going, but for now, everyone can enjoy GTA V and still find a very active and vibrant community to hang out with. Especially the GTA RP scene has been heating up lately, which shows this game is far from dead. 

Image(s): Shutterstock.com

The post Should Rockstar Games Even Release GTA VI? appeared first on NullTX.


Source: nulltx
Should Rockstar Games Even Release GTA VI?

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Should Rockstar Games Even Release GTA VI?

Should Rockstar Games Even Release GTA VI?

This article was originally posted on The Merkel – with a dedicated cryptocurrency news section and also a variety of educational articles relating to , […]
Source: cryptonewsmonitor
Should Rockstar Games Even Release GTA VI?

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Should Rockstar Games Even Release GTA VI?

Themerkle Xsolla WAX Video Gaming

The gaming community eagerly awaits the release – or the announcement of the release – of GTA VI. The sixth installment in the series is met with a lot of hype and excitement, even though have never officially confirmed they will make a new game. In fact, are several reasons as to why they don’t need to right away. 

The GTA Saga Seems Complete

Throughout the past few decades, there have been five “major” GTA games and a few minor “spinoffs” and expansions. Ever since the first game was released, the series gained a cult following which only kept growing year after year. There are a certain thrill and excitement associated with stealing cars, beating up people, and making money as a full-time criminal in the world of Grand Theft Auto.

In more recent installments. Rockstar Games decided to finetune the core principles and even expand upon them. This all culminated in GTA V where many players spent more time watching TV in-game compared to actually playing missions or doing exploration. It is the ultimate version of the Grand Theft Auto franchise, and topping it will be very difficult, if not virtually impossible. It is always a good idea to end on a high note, thus GTA VI might never see the light of day. 

GTA V Keeps Selling Well

From a financial point of view, Rockstar Games is still making a ton of money every single year. The game continues to show up in video game sales rankings around the globe, even if its price hasn’t necessarily decreased all that much. A lot of players also own the game across multiple systems, simply because they cannot get enough of it. With over $6bn in revenue generated to date, there is no financial pressure to launch GTA VI now or in the near future. 

GTA Online is Still a Thing

While most players have rather mixed feelings regarding GTA Online, it is another cash cow for Rockstar Games at this time. So much even that the developer might not worry too much about adding another chapter to the beloved Grand Theft Auto Franchise. While not everyone agrees that this business model is fun or even worth spending money on, it is a reliable source of income for quite some time now. 

Lots of Rumors but no Substance

As is usually the case when there are only unconfirmed expectations and suspicions, GTA VI has not been officially announced by Rockstar Games. Nor is the company intent on sharing much information on whether or not the title is even in development. Given how Red Dead Redemption came out under a year ago, it seems normal the company will focus its attention on adding more content for that game first and foremost. 

Unfortunately for GTA VI enthusiasts, that also means no official release date will be made apparent anytime soon. The game was not announced at E3, and it seems rather unlikely that will change later this year. Rest assured some media outlets will keep the rumor mill going, but for now, everyone can enjoy GTA V and still find a very active and vibrant community to hang out with. Especially the GTA RP scene has been heating up lately, which shows this game is far from dead. 

Image(s): Shutterstock.com

There should be a best practices guide to wallet security on Dash.org IMO

How are non-tech ppl supposed to know this stuff when even expert run sites like Dash.org have provided a link to a compromised wallet (myDashwallet). I don’t blame non-tech consumers being too scared to touch crypto TBH.

I am reminded of tech savvy Bitcoiners telling newcomers they were stupid sending that transaction with too low a fees (now stuck in mempool!!!). Here we have Dash.org providing a link to a wallet service (myDashwallet) where one person alleges to have lost close to 800 Dash! Then this person gets “don’t store too much in a web wallet”!

submitted by /u/Critical_Input
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Source: dashpay
There should be a best practices guide to wallet security on Dash.org IMO

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What Ethereum should learn from Libra: a content perspective

What Ethereum should learn from Libra: a content perspective submitted by /u/twigwam
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Should History Repeat, Bitcoin Could See $20,000 By Year’s End

to See 100% Gain in Q3: ?

Since our previous report on the market, Bitcoin (BTC) has been able to see some short-term reprieve. As of the time of writing, the leading cryptocurrency is pretty much flat over the past 24 hours, posting no notable gains or losses to speak of.

Altcoins are actually outpacing Bitcoin today, with , XRP, and most other large caps gaining 3% or so. With this, Bitcoin dominance has returned to 65% according to CoinMarketCap, which is only marginally lower than the 65.8% seen just yesterday.

Anyhow, what’s next for Bitcoin? According to Crypto (Parabolic) Thies, a certain turn of events could see surge to $20,000 by the end of the third quarter of this year.

The analyst at trade publication CryptoSlate notes that in January 2016, which is when BTC began to recover from 2015’s brutal downturn, Bitcoin saw a three-month KDJ cross after rallying by two to three times.

For those unaware, the KDJ is a “technical indicator used to analyze and predict changes in stock trends and price patterns”. It is purportedly also known as the “random index”, in that it seemingly moves without any rhyme or reason.

Anyhow, after the KDJ cross, BTC saw a flat neutral candle (meaning no large gains or losses), then a surge of over 100% in the quarter that followed. This is effectively what kicked off the previous bull run.

Thies notes that since the KDJ crossed on the three-month chart, he would be inclined to suggest that Bitcoin could see a similar turn of events play out if the following quarter ends relatively neutral. Such a “neutral” candle could likely be seen if BTC manages to end the third quarter (September) anywhere from $10,000 to $13,000.

Thies isn’t the only analyst that has pointed out that historical trends hold true, Bitcoin could recover strongly into the end of 2019.

Timothy Peterson, a Texas-based crypto fund manager and Bitcoin pioneer, recently laid out a model which plots how BTC’s performance in the first half of any given year relates to the second half’s performance.

Interestingly, the model, which can be defined as the positive slope y = 1.1409x + 0.5151, fits the trend to 90%, implying that it should be fairly accurate.

According to Peterson, Bitcoin gaining 180% year-to-date (effectively the 2019’s first half) implies that it has another 250% (“give or take”) left to run by the end of the year.

A 250% gain from current levels would mean Bitcoin ends the year at $40,000 — practically double BTC’s 2017 all-time high of just around $20,000. According to Peterson, even $50,000 is realistic.

Title Image Courtesy of Pixabay.com

China Should Prepare Digital Yuan to Counter Facebook Libra: Ex-PBoC Chief

revamp its plan for a national digital currency in the face of Facebook’s Libra cryptocurrency, says the central bank’s former head.
Source: worldnewsoffice
China Should Prepare Digital Yuan to Counter Facebook Libra: Ex-PBoC Chief

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