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A Bullish Sign Returns For Bitcoin, Ethereum, Ripple, EOS, And Other Cryptocurrencies

A Bullish Sign Returns For Bitcoin, Ethereum, Ripple, EOS, And Other Cryptocurrencies

A Bullish Sign Returns For Bitcoin, Ethereum, Ripple, EOS, And Other Cryptocurrencies

Major cryptocurrencies like Bitcoin, Ethereum, Ripple and EOS have been on fire lately. Over the last seven days, Bitcoin is up 21.80%, Ethereum is up 39.36%, Ripple is up 40.89% and EOS 51.84%–see table 1.

Table 1

7d Price Change For Major Cryptocurrencies

Cryptocurrency %7d

Bitcoin 21.80

Ethereum 39.36

Ripple 40.89

EOS 51.84

Source: Coinmarketcap.com 4/13/18 at 10:30 a.m.

 

The cryptocurrency rally extends across the entire chain. Only one cryptocurrency out of the top 100 dropped in the last seven days, while 99 advanced–see table 2.

Table 2

Number of Cryptocurrencies That Advanced/Declined In The Top 100 Ranks

Cryptocurrencies Advance/Decline Number

Advance 99

Decline 1

Source: Coinmarketcap.com 4/13/18 at 10:30 a.m.

And that’s the return of a bullish technical indicator that helped cryptocurrencies stage a big rally back at the end of last year.

Some cryptocurrency experts aren’t surprised by the renewed interest in cryptocurrencies. Matthew Spoke, CEO of AION and Founding Board Member of the Enterprise Ethereum Alliance is one of them. “The fundamentals have not changed,” says Spoke. “A large portion of the crypto market value is reflective of the real innovations happening around the world. Although investor confidence will sometimes falter, long term growth across the market will continue if you zoom out far enough. I’m very bullish for 2018.”

Larry Temlock, CFO and Co-Founder, Sun Exchange is another cryptocurrency bull. “In recent months, volatility masked the rising average intrinsic value of the top coins gained during the 4Q17 boom,” says Temlock. “All it took was a few events like Cambridge Analytica and an FBI raid to spur reversion to the (rising) mean. Advances like Lightning Network and other second layer tech will just keep those intrinsic value gains coming.”

Shidan Gouran sounds rather skeptical on the recent cryptocurrency rally, attributing it to the end of the taxing season.

"The recent upward swing in cryptocurrencies is an apparent symptom of tax season,” says Gouran. “It all follows a pretty logical pattern; people got their paychecks for the end of March, paid their bills, and realized they would need to have a certain amount of funds handy to pay their taxes – which many crypto traders will owe. If they'll come up short, they need to sell off some of their cryptocurrencies to pay their taxes. Hence, the big drop at the beginning of April, which was likely because of an excess of supply. Now that we're less than a week away from the April 17th deadline for US taxes, most people will know if they're getting a refund (or may even have gotten it already).“

And apparently, they rushed to invest that refund back into cryptocurrencies at “bargain” prices.

[Author. note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment. Disclosure: I don't own any Bitcoin.]

That means that new money is flowing into the entire sector rather than to major currencies only.

 

Author Panos Mourdoukoutas

Posted by David Ogden Entrepreneur
David ogden Cryptocurrency Entrepreneur

David

Bitcoin Breakout – Price Jumps $1K in 60 Minutes

Bitcoin Breakout – Price Jumps $1K in 60 Minutes

 

Bitcoin rallied over $1,000 in an hour this morning, having spent a better part of the last two weeks trading sideways in a narrow price range.

The cryptocurrency clocked a two-week high of $8,055 soon before press time and is currently trading at $7,850, according to CoinDesk's Bitcoin Price Index. The move marks a 13 percent gain from the previous day's close of $6,939.

Bitcoin Breakout - Price Jumps $1K in 60 Minutes

It appears short liquidation or unwinding of short (sell) BTC trades has played a big role in the sudden rally, according to some sources.

The cryptocurrency picked up bids at $6,766 at 07:00 GMT and scaled the $7,000 mark at 11:00 GMT – a move that seems to have triggered stop losses on short trades, as reported by WhaleCalls.

Further, technical buyers may have jumped in as the move above $7,000 also marked an upside break of the falling wedge pattern.

It's worth noting that, while it took two hours to move from $6,766 to $7,000, the next $1,000 jump happened in just 45 minutes.

The speed of the ascent should not come as a surprise as wider the range and the longer the duration of the consolidation zone, the more violent a breakout tends to be.

For now, it appears bitcoin's period of consolidation has ended with a notable bullish breakout. Next, a move to $8,500 cannot be ruled out if the cryptocurrency closes (as per UTC) above $7,510, confirming a bullish double bottom breakout.

 

Author Omkar Godbole Updated Apr 12, 2018 at 19:47 UTC

Posted by David Ogden Entrepreneur

David

Bitcoin Cash Price Technical Analysis – BCH USD Could Test $700

Bitcoin Cash Price Technical Analysis – BCH USD Could Test $700

Bitcoin Cash Price Technical Analysis – BCH USD Could Test $700

Key Points

  • Bitcoin cash price is moving higher and is currently placed above $650 against the US Dollar.

  • Yesterday’s highlighted connecting bullish trend line with support at $650 is intact on the hourly chart of the BCH/USD pair (data feed from Kraken).

  • The pair is showing bullish signs and it seems like it could break $680 to test the $700 handle.

  • Bitcoin cash price is gaining pace against the US Dollar. BCH/USD is likely to accelerate higher as long as it is above the $650 support level.

Bitcoin Cash Price Support

There was a decent start of an upside wave from the $625 swing low in bitcoin cash price against the US Dollar. The price traded above the $640 and $650 resistance levels to move back in a positive zone. More importantly, the price is now well above the $640 pivot level and the 100 hourly simple moving average. It recently traded as high as $676 before a minor downside correction.

It tested the 23.6% Fib retracement level of the last wave from the $625 low to $676 high. However, the downside was limited and it seems like the price is about to resume its uptrend. A break above the $676 high could push the price towards the last swing high at $685. Above the mentioned $685 level, the price may even test the $700 resistance in the near term. On the other hand, if there is a downside correction, the $650 support may stop losses.

Moreover, yesterday’s highlighted connecting bullish trend line with support at $650 is intact on the hourly chart of the BCH/USD pair. Therefore, the pair remains supported on the downside above the $650 level and it could continue to move higher towards $700.

Looking at the technical indicators:

 

Hourly MACD – The MACD for BCH/USD is moving nicely in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently near the overbought levels.

Major Support Level – $650

Major Resistance Level – $685

 

Charts courtesy – Trading View

 

Author: AAYUSH JINDAL | APRIL 12, 2018 | 4:08 AM

 

Posted by David Ogden Entrepreneur

David

Gemini to Roll Out Bitcoin and Ether Block Trading

Gemini to Roll Out Bitcoin and Ether Block Trading

Gemini to Roll Out Bitcoin and Ether Block Trading

Cryptocurrency exchange Gemini said Monday that it will roll out block trading for bitcoin and ether starting later this week.

The feature – which will allow customers to make high-volume trades that won't appear in the exchange's order book until they've been filled – will go live at 9:30 a.m. ET on Thursday, Gemini explained in a blog post. There's a minimum threshold of 10 bitcoin or 100 ether for the block trades, meaning that smaller traders won't be able to use the feature.

Gemini has positioned the block trading addition as a way to create "an additional mechanism to source liquidity when trading in greater size."

Block trading allows large traders such as hedge funds to buy or sell large quantities without having large immediate effects on the price. The alternative is to place over-the-counter trades, which happen outside of exchanges, or to split trades up into smaller chunks in order to minimize the impact to supply and demand.

Market takers – who place the orders – specify whether the trade is a buy or sell; the minimum quantity; and a price limit. This information, called an indication of interest, is broadcast to all market makers simultaneously.

"In accordance with our commitment to an equitable, transparent, and rules-based marketplace, block orders will be electronically broadcast to participating market makers simultaneously, ensuring best execution and price discovery for those participating in the program," the exchange explained in its blog post.

Gemini, founded by investors Cameron and Tyler Winklevoss, had indicated last month that the exchange may move to add additional cryptocurrencies for trading in the future. Potential selections include bitcoin cash and litecoin, as reported at the time.

 

Author David Floyd Updated Apr 10, 2018 at 02:14 UTC

 

Posted by David Ogden Entrepreneur
David Ogden Cryptocurrency Entrepreneur

David

Bitcoin Price Technical Analysis for 9th April – More Bullish Confirmation!

Bitcoin Price Technical Analysis for 9th April – More Bullish Confirmation!

Bitcoin Price Technical Analysis for 9th April – More Bullish Confirmation!

Bitcoin Price Key Highlights

  • Bitcoin price is holding its ground as it makes another attempt to test the double bottom neckline.
  • Price has also surged past the descending trend line connecting the latest highs to signal that bulls have the upper hand.
  • Technical indicators, however, still suggest a potential return in bearish pressure.
  • Bitcoin price is showing more factors favoring the bulls, and a test of the reversal pattern’s neckline seems imminent.

Technical Indicators Signals

The 100 SMA is still below the longer-term 200 SMA to signal that the path of least resistance is to the downside. This means that the downtrend is more likely to resume than to reverse.
However, bitcoin price has also broken past the moving averages’ dynamic inflection points to reflect a pickup in bullish momentum. It has also moved past a short-term descending trend line to indicate that buyers are in control.
From here, bitcoin price could make its way up to the double bottom neckline at the $7500 mark to possibly push for a stronger climb. A break past this resistance could mean a climb of the same height as the chart formation, which spans $6500 to $7500.
Stochastic is on the move up to signal the presence of bullish pressure, but the oscillator is approaching overbought levels to hint at potential exhaustion as well. If resistance holds, another bottom at $6500 could be formed.

Market Factors
Dollar weakness came in play towards the end of the previous week as risk-taking stayed supported while weak NFP data dampened tightening hopes.

Besides, a change in tone from renowned trader George Soros regarding bitcoin also propped the industry higher. Soros Fund Management recently announced that the enterprise had received permission to begin trading cryptocurrencies within the next few months

.
To top it off, the venture capital firm Venrock has partnered with Brooklyn-based cryptocurrency firm Coinfund, also marking a significant step forward and points for approval for cryptocurrencies in general.

 

Author:  SARAH JENN | APRIL 9, 2018 | 4:36 AM

 

Posted by David Ogden Entrepreneur

David

Bitcoin tide favoring bears and the coming April 17 brings really bad news

Bitcoin tide favoring bears and the coming April 17 brings really bad news

Bitcoin tide favoring bears and the coming April 17 brings really bad news

If you noticed lately, Bitcoin (BTC), the leading cryptocurrency, has been stuck below $7000.

As of Friday, it was in the $6,600 range, dangerously close to the $6,400 when the market ‘bears’ bet the crypto is on a downward path.

What’s worse is that the US tax season is upon us, and every Bitcoin holder living in America is taxed on their capital gains, and they will be unloading the crypto to be able to pay their taxes in cash to the US government, come April 17.

A major sell-off is coming which will impact crypto holders globally, but what is the state of Bitcoin today?

Not dead yet: Crypto coins have fallen but trying to get up

Stuck in purgatory

Coindesk reported that Bitcoin (BTC) fell below the $7,000 mark on Wednesday, Thursday and Friday, and neutralizing any bullish outlook.

“More worryingly for the bulls, a further decline towards $6,425 (recent low) would turn the tide in favor of the bears,” Coindesk said.

“Since late February, bitcoin and U.S. stocks have been moving more or less in tandem, indicating the cryptocurrency is still being perceived as a risk asset.”

But according to CNBC, Bitcoin is likely to fare worse than other assets in the coming months because it has no fundamental value, quoting London-based Capital Economics, Thursday.

The firm explained that the cryptocurrency has been quite closely correlated to the S&P 500 since the price started to fall from its record high $20,000 at the end of last year.

“But the correlation has been coincidental. For bitcoin, the recent fall in value has been due to concern over regulation, a ban on cryptocurrency advertising, ICO fraud, banks banning customers from buying it via credit cards, and others,” it said.

“Stocks meanwhile have been hit thanks to concerns over a U.S.-China trade war and potentially slowing growth.”

Capital Economics said that while stocks are likely to fall further this year, bitcoin will be worse off because it is essentially worthless “and simply not a credible long-run alternative to conventional currencies.”

That doesn’t say that bad news affecting stock markets, like an escalating rhetoric around potential trade war between the US and China, are not also affecting crypto prices.

 

ICO warnings

Governments and experts around the world have warned about Initial Coin Offering (ICO) fraud.

Some reports said 80% of ICOs are said to be scams.

The Financial Times (FT) said that there are nearly 1600 cryptocurrencies listed on Coinmarketcap, and that number grows every time a new startup sells a token.

According to tracking website Coinschedule, around 160 coins have so far been released this year via ICOs, raising more than $5bn.

“The money raised in the first three months of the year alone exceeds the total raised in the bumper year that was 2017, and that’s even if you strip out the money raised so far for the mega-ICO from Telegram, the encrypted messaging service,” said FT

FT warns that ICOs create swapping mechanisms between cryptos while existing cryptos can also be cloned, or “forked”.

“And it’s not as if all these digital tokens aren’t correlated to each other. When one goes up or down, they all tend to follow suit,” said FT.

Table 1

7d Price Change For Major Cryptocurrencies

Cryptocurrency %7d

Bitcoin -13.41

Ethereum -15.90

Ripple -13.28

Litecoin -11.65

Source: Coinmarketcap.com 4/4/18 at 2:30 a.m.

 

Table 2

Number of Cryptocurrencies That Advanced/Declined In The Top 100 Ranks

Cryptocurrencies Advance/Decline Number

Advance 12

Decline 88

Source: Coinmarketcap.com 4/4/18 at 2:30 a.m.

 

Bad news from India

Forbes reported that the Reserve Bank of India RBI) has banned banks from allowing people to transfer money from their bank account into Bitcoin wallets.

“Meaning if there is a Bitcoin market in India, it is going to move underground,” Forbes said.

“India is not a huge market for crypto, so Bitcoin was down only 2% upon hearing the news and probably not due to the RBI’s announcement. China, South Korea, Singapore, Japan and the U.S. are the biggest markets for cryptocurrencies.”

 

Worse news from the US

According to the Coin Telegraph, Fundstrat’s and Wall Street expert Tom Lee has predicted a “massive outflow” of cryptocurrency to fiat money in the lead up to tax day in the US, quoting a CNBC report on April 5.

Lee notes that, since US households owe an estimated $25bn in capital gains taxes due to their crypto holdings, and crypto exchanges also will owe income taxes, both households and exchanges will be selling their crypto to pay the US government.

“We believe there is selling pressure by crypto exchanges who are subject to income tax in U.S. jurisdictions. Many exchanges have net income in 2017 [of more than] $1 bln and keep working capital in [Bitcoin]/[Ethereum], not USD — hence, to meet these tax liabilities, are selling BTC/ETH.”

According to Lee, “historical estimates are each $1 of USD outflow is $20-$25 impact on crypto market value.”

 

Author Hadi Khatib

Posted by David Ogden Entrepreneur

David

Your bank will not allow you to buy bitcoins anymore

Your bank will not allow you to buy bitcoins anymore

You will not be able to buy cryptocurrency via banks or e-wallets etc. in India anymore as the Reserve Bank of India (RBI) has banned them with immediate effect from "dealing with or providing services to any individuals or business entities dealing with or settling virtual currencies".

RBI, while announcing its first bi-monthly monetary policy for the FY 2018-19, has announced that any entity regulated by them such as banks, wallets etc. shall not deal with or provide services to any individual or business entities for buying or selling of cryptocurrency such as bitcoins. If banks, e-wallets and any other entities regulated by RBI are not allowed to facilitate sale or purchase of cryptocurrencies, obviously individuals will not be able to transfer money from their bank account accounts to their crypto-trading wallets.

"A person will not be able to transfer money from his savings account to his cryptowallet" says, Abizer Diwanji, Head, Financial Services, EY India.

The central bank has repeatedly cautioned users, holders and traders of virtual currencies, including Bitcoins, regarding various risks associated in dealing with such virtual currencies.

In its statement RBI said that technological innovations, including those underlying virtual currencies, have the potential to improve the efficiency and inclusiveness of the financial system.

However, Virtual Currencies (VCs), also variously referred to as crypto currencies and crypto assets, raise concerns of consumer protection, market integrity and money laundering, among others.

In view of the associated risks, it has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling VCs. Regulated entities which already provide such services shall exit the relationship within a specified time. RBI will be issuing circular in this regard for further details.

Recently, several banks have banned their customers for buying and selling of cryptocurrencies.

Citi Bank in email to its customers has said that credit and debit cards cannot be used to purchase cryptocurrencies. It has been reported that RBI has warned banks about cryptocurrencies in January, telling them to step up scrutiny of financial transactions by companies and exchanges involved in the trade of bitcoins and similar digital tender.

RBI has also issued a press release earlier in this regard stating "As such, any user, holder, investor, trader, etc. dealing with virtual currencies will be doing so at their own risk."

 

Author Preeti Motiani Updated: Apr 06, 2018, 10.12 AM IST

 

Posted by David Ogden Entrepreneur

 

David

Bitcoin Price Technical Analysis for 5th April 2018 – Next Potential Support Zones

Bitcoin Price Technical Analysis for 5th April 2018 – Next Potential Support Zones

Bitcoin Price Key Highlights

  • Bitcoin price is trending lower still after recently pulling back to a descending trend line on its 1-hour time frame.

  • Price is eyeing the next downside targets marked by the Fibonacci extension tool.

  • Technical indicators are giving mixed signals, but it looks like bears could still win out.

Bitcoin price has resumed its slide after a quick pullback, possibly attempting to make new lows from here.

Technical Indicators Signals

The 100 SMA is below the longer-term 200 SMA to confirm that the path of least resistance is to the downside. In other words, the selloff is more likely to resume than to reverse. The moving averages are also near the descending trend line, adding extra layers of resistance in the event of another pullback.

Stochastic is pointing up to indicate the presence of bullish pressure, though, so bitcoin price might still be able to bounce from here. Upon reaching overbought levels, the oscillator could turn back south to draw sellers back in.

The next potential support is at the 38.2% extension of $6495 near the swing low. The 50% extension is at $6185.90 and the 61.8% extension is at $5876.60. The full extension is located at $4875.50.

If bitcoin price is able to sustain its bounce at current levels, a double bottom pattern could form and this is often considered a classic reversal signal. That way, the neckline would be at $7500 and an upside break could lead to a rally of the same height as the formation.

Market Factors

Analysts point to the global uncertainty spurred by the trade tensions between China and the U.S. as one of the major culprits dragging bitcoin price lower. After all, traders are feeling less hungry for risk, putting their funds in safe-haven assets like the dollar and bonds instead.

Besides, traders might have also taken the recent pullback as an opportunity to liquidate their positions at better prices, fearing that rallies might not last very long in this market environment.
 

Author SARAH JENN | APRIL 5, 2018 | 4:48 AM
 

Posted by David Ogden Entrepreneur

David

Acid Test – Bitcoin Must Break $7,800 for Bull Reversal

Acid Test - Bitcoin Must Break $7,800 for Bull Reversal

Acid Test – Bitcoin Must Break $7,800 for Bull Reversal

Bitcoin (BTC) continues to mount a recovery despite the recent bearish "death cross" chart event.

As of writing, bitcoin is changing hands at $7,400 on Bitfinex and the average price on leading exchanges, as represented by CoinDesk's Bitcoin Price Index, is seen at $7,380.

The cryptocurrency's 15-percent rally from the 54-day low of $6,425 set on April 1 is encouraging and pretty much in line with the historical relative strength index (RSI) pattern.

That said, the bulls' job is only half done, and bitcoin is still stuck in a falling channel. So, a clear break above $7,800 is now needed to confirm a bullish trend reversal and avert another sell-off.

Daily chart

A daily close (as per UTC) above the falling channel resistance would signal a short-term bullish trend reversal – i.e. the sell-off from the March 5 high of $11,700 has ended and would allow a test of supply around the bigger descending trendline sloping downwards from the Dec. 17 high and Jan. 6 high.

Note, the falling channel resistance is lined up at $7,900 and is seen sloping downwards to $7,800 by tomorrow. A move above that level would lift the RSI above the descending trendline, thus bringing in more technical buyers into the market.

The 4-hour chart below shows scope for a rally to $7,800-$7,900 over the next 24-48 hours.

4-hour chart

The bullish RSI divergence followed by a break above the minor descending trendline indicate that bitcoin could rally by another 400 dollars or so. The RSI is also above 50.00 (in the bullish territory) and is trending.

However, if BTC repeatedly fails to take out the falling channel hurdle (seen in the daily chart) in the next couple of days, then the bears may flex their muscle. Moreover, that would mean the recent gains are nothing more than a corrective rally. The ensuing sell-off could take BTC down to $6,000 (November lows).

As a result, the falling channel resistance presents a sort of acid test for the bitcoin market.

In the larger scheme of things, a bullish reversal is seen only above $11,700 as shown by the long duration chart below.

Weekly chart

BTC has defended the 50-week moving average (MA), yet the outlook remains bearish as suggested by the descending 5-week MA and 10-week MA. Furthermore, the RSI is bearish. Only a move above $11,700 (bearish outside-week candle high) would revive the bullish outlook and potentially yield rally to fresh record highs.

View

BTC could test the falling channel resistance in the next 24-48 hours (currently seen at $7,900, will be at $7,800 tomorrow).

A daily close above the channel resistance would signal short-term bull reversal and expose resistance lined up at $8,090 (5-week MA) and $9,177 (March 21 high).

Repeated failure to beat the channel hurdle could yield a re-test of $6,425 (April 1 low).
 

Author: Omkar Godbole Updated Apr 3, 2018 at 22:07 UTC

Disclaimer: This article is not intended to provide investment advice.

 

Posted by David Ogden Entrepreneur

David

5 ALTCOINS WITH MAJOR EVENTS THE WEEK OF APRIL 1, 2018 (GAINS LIKELY TO BEAT BITCOIN RETURNS!)

5 ALTCOINS WITH MAJOR EVENTS THE WEEK OF APRIL 1, 2018 (GAINS LIKELY TO BEAT BITCOIN RETURNS!)

5 ALTCOINS WITH MAJOR EVENTS THE WEEK OF APRIL 1, 2018 (GAINS LIKELY TO BEAT BITCOIN RETURNS!)

This past week has seen Bitcoin and many altcoins fluctuate dramatically. These significant fluctuations can be profited off of by trading or increasing one’s position in the underlying crypto. The upcoming week has major events for five cryptocurrencies: PRL, UKG, EOS, PKB, and BRD.
 

THE MARKET CONDITIONS

In December of 2017, Bitcoin was pushing the $20,000 mark with many experts predicting a run much higher. The bull market turned bear and BTC is currently priced at approximately $7,000 per coin. This sixty plus percent retraction has led altcoins to retract even further. Bitcoin’s dominance in the past three months has increased as the total market cap of all cryptos has decreased. BTC now makes up a greater share (percentage wise) of the total crypto markets than it did in December, when its price was 200% higher.
 

Markets in turmoil usually scare investors away. However, the savvy investor is keenly aware of the opportunities markets in turmoil provide. There are buying opportunities galore with many altcoins having major events on a weekly basis. Rotating one’s holding from one altcoin to another week to week is a timely task but if accomplished in a sophisticated manner can lead to substantial returns outpacing Bitcoin and the rest of the crypto markets.
 

This week has 5 altcoins with major events: PRL, UKG, EOS, PKB, and BRD.

PRL – OYSTER PROTOCOL (SHL AIRDROP, EXCHANGE SUPPORT)

The SHL airdrop to PRL holders is finally a week away! On April 6, 2018, each holder of PRL will receive a 1:1 ratio of SHL for each PRL crypto held. Last week no exchanges had announced support for the airdrop. However, this week, the exchange PRL is predominantly traded on expressed their support for the airdrop. Now holders of PRL in their wallets or on the main PRL exchange can easily attain the SHL tokens.
 

PRL is planning to revolutionize the way web hosts earn an income. Instead of advertising revenue making up the majority of income for web hosts; PRL intends to replace ad revenue. Web hosts will soon be able to input a line of code into their websites that allow for no advertisements but still provide revenue based on total views/visitors. How is this completed? Well, the visitor to the website is unaware but a miniscule amount of their spare computing power is used to confirm transactions on the PRL network, rewarding the webhost in PRL tokens.

 

The amount of revenue attained from removing advertisers is expected to surpass the amount received from running advertisements. PRL is a great crypto without having to airdrop SHL, but SHL adds any entirely new degree of value in the form of an airdrop. SHL intends to decentralize the internet and if it comes even close to its ambitions should increase exponentially in value.

 

As airdrops approach the underlying crypto usually increases until exchange support is announced or declined. If a major exchange supports the airdrop the value of the underlying crypto tends to increase until the date of the airdrop. If an exchange declines support for the airdrop the crypto generally retracts significantly as individuals have to decide to move the crypto to a desktop/application based wallet or to sell at the current price. PRL received support for their SHL token airdrop on the main exchange PRL is traded.

 

This week should be a very positive week for PRL. Following the airdrop, there should be a significant correction in the price of PRL as many are currently holding for the SHL token.

UKG – UNIKOIN GOLD (ESPORTS LIVE BETTING, SPECTATOR BETTING)

Unikoin Gold (UKG) is an ERC-20 token that has been incorporated into the Unikrn platform. The Unikrn platform specializes in licensed, legal betting on eSports tournaments and matches. UKG provides a reward and incentivization structure for teams, players, and the participants of eSports. One of the biggest backers of the Unikrn project is the infamous Mark Cuban, billionaire, investor, Dallas Mavericks owner, and television personality. With investors such as Mark Cuban and a major upcoming week UKG should see a strong rally in the short term.
 

UKG is fairly useless without its Esports live betting and spectator betting platforms. Well, these platforms allegedly go live this week, on April 6, 2018. If UKG achieves this deadline the price of UKG will respond accordingly in a positive manner. Similarly, if UKG misses this deadline the public will lose faith regardless of the importance of Mark Cuban. What UKG is “supposed” to be, a major aspect of their roadmap, and the backbone of the platform is supposed to go live in less than a week. The ability to access spectator and Esports betting is what gives UKG utility. Utility adds value more than anything else in the crypto space.
 

If UKG is able to implement spectator and Esports live betting this week UKG should see a nice boost in sentiment regarding the coin, and the underlying value of UKG.

EOS – EOS (DAWN 3.0 RELEASE)

EOS is a similar cryptocurrency to Ethereum (ETH) but excels in areas ETH fails. EOS specializes in scalability, an area where ETH suffers greatly. However, ETH has attained the most important thing of all: market penetration. The overwhelming majority of ICOs from the past year were ETH based on the ERC-20 platform. This sheer quantity led to many scaling problems for ETH and this is specifically where EOS excels.
 

For those that are not technology advanced understanding what Dawn 3.0 is will be fairly difficult. To summarize, Dawn 3.0 is finally stable enough to release as an Alpha and will soon become the GitHub master branch for EOS. This substantial development for EOS ensures its relevancy in the future as long as ICOs continued to be launched.
 

EOS is on the cusp of being fully implemented and functioning. Once these benchmarks in their roadmap are met, EOS will have an inherent advantage when compared to other cryptos that specialize in ICOs. It is expected by many crypto enthusiasts that EOS is the only capable platform able to handle full-scale commercial decentralized applications. Once this is achieved developers and investors will flock to the EOS platform for its advantages over other ICO platforms. Dawn 3.0 is the beginning of being able to understand what these advances truly include.

BRD – BREAD (IOS AND ANDROID UPDATES)

The BRD token was sold during an ICO to raise money for the Bread App (a great mobile wallet for iOS and Android). It seems curious but currently, the Bread App only can buy, sell, and transfer Bitcoin (BTC). The Bread application currently does not have the ability to hold the BRD token. This will obviously change in the short term with April 7, 2018, being the targeted date. The plan according to BRD is to update the iOS and Android applications to support ETH, ERC-20 tokens, and Bitcoin Cash (BCC). BRD currently has no utility and cannot even be held in the Bread application.
 

This week should be the last week the Bread application cannot hold BRD tokens. By incorporating BRD, ETH, ERC-20 tokens, BTC, and BCC all in one mobile wallet many individuals may begin using Bread for its overwhelming benefits. Once BRD can be held on the Bread application the plan is to allow BRD to be used to “unlock” special features within the app. If a wallet user has 10,000 BRD for example, they may be able to purchase BTC for a 1% fee instead of the industry standard of over 4%. The more BRD you hold in your wallet, the more benefits the user will receive for possessing them.

 

BRD’s token is about to be given significant utility by being able to provide the holder special benefits within the Bread application. This system creates an environment where holders of BRD are not selling but continuing to acquire as their will be benefits based on quantity held. By decreasing supply on the open market while increasing utility of BRD, the price should correspondingly increase.

PKB – PARKBYTE DELISTING (BITTREX, SHORT)

Not all news is “good” in crypto. PKB is being delisted from Bittrex on April 6, 2018. PKB was unable to provide all the documentation Bittrex requested in the 7-day time frame they were given. Unfortunately for PKB holders, this resulted in their delisting by Bittrex. Other cryptos like MTL have rebounded following their delisting but it seems PKB may fall into the majority category and fade into oblivion unless they can create positive sentiment very quickly. Being delisted from Bittrex generally is a “nail in the coffin” unless significant changes, public outreach, and a strong team remain.

 

PKB has a solid team but with a market cap of under $500,000, it seems unlikely they can revive their project following a Bittrex delisting. However, if they are able to this very small market cap crypto that can still be purchased on Bittrex will skyrocket in value. Of the coins on this list this is the only one that is reasonably expected to continue fading into oblivion. There is no real ability to short this crypto which would be the recommendation but if you are feeling risky do the opposite of what the public does! This is crypto, anything can happen.
 

If PKB can get themselves relisted or provide project updates that change market sentiment, expect this very small market cap crypto to increase dramatically in value. With the current negative news regarding a delisting, this is a very risky coin to hold but provides more upside than any on this list.
 

EVERY WEEK HAS GREAT OPPORTUNITIES, FINDING THEM IS NOT ALWAYS EASY

This week has four coins with great upcoming news and one with very negative news. This is a very exciting time for crypto as a whole as many projects started six months ago are finally coming to fruition this week. With such important events in the upcoming week it is important to stay diversified while keeping an eye on five coins for the upcoming week. These five coins should fluctuate dramatically depending on the developments over the next week.

 

Author JAKETHECRYPTOKING · MARCH 31, 2018 · 5:00 PM

 

Posted by David Ogden Entrepreneur
David Ogden Cryptocurrency Entrepreneur

 

David