Ethereum Layer 2 Promising 100x Gas Cuts Live By November
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Aureo Ribeiro, a federal deputy in Brazil, stated that bitcoin might become a recognized currency in Brazil soon, during an interview with local media. The politician stated that Brazilians may be able to purchase houses, cars, and even fast food at McDonald’s with cryptocurrency in the near future. Bill 2.303/15, which regulates cryptocurrencies, might approve […]
There are a lot of people that are saying that Bitcoin will suffer a -80% crash or some other FUD about how a Crypto crash is imminent. This is really no longer possible in my opinion. Can you imagine Bitcoin selling for $10,000 in 2021? I can't either. Even in the worst possible scenario, I…
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Bitcoin price this morning touched $50,000 – a feat that might have have made a bear market look a lot less likely. But bulls could be celebrating too early, and a max pain scenario of a symmetrical triangle few currently see could end up shaking up both bears and bulls in the days ahead. Here is a much closer look at the symmetrical triangle, what the corrective pattern suggests, and why bulls certainly aren’t out of the woods just yet. Downtrend Remains Unbroken, Symmetrical Triangle Possible Downtrends can be deceiving. They don’t always necessarily mean a bear market, and even if a downtrend line is broken, another one can form higher and prevent the reaction bulls are expecting. Related Reading | Could A Bitcoin Bull Flag Leave Bears Blindsided? For example, when Bitcoin broke out from bear market downtrend resistance, the early 2019 rally to $13,000 was the result. However, because of the new downtrend line created at that high, Bitcoin spent another full year and then some below the new downtrend resistance. There is still one more downtrend resistance to go before bulls are out of the woods | Source: BTCUSD on TradingView.com Assets often must clear three opposing trendlines for the primary trend to resume. This situation is happening now, but on much smaller time scales. Bitcoin price has made it through two downtrend lines, but one is left. Drawing a symmetrical support line provides the potential for the triangle that few technical analysts are talking about currently. Valid trendlines tend to have at least three touches, but the third touch could provide the final E-wave of a triangle corrective pattern during a bull market. The wave 4 correction could be an Elliott Wave triangle pattern | Source: BTCUSD on TradingView.com Bitcoin Price Corrective Wave Could Be Nearing Its End The E-wave could clear out any positions built at support around $40,000, crushing bulls who went all in on what they thought was a bull flag breakout. The move would also restore bearish exuberance, and push Bitcoin price back into the $30,000 range to suck in more short positions. Only then might Bitcoin price make it through the top downtrend line to continue higher. But it all depends on where the E-wave “terminates.” It is worth noting that a such a triangle during a bull market often leads to new highs. Related Reading | Bulls Regain Control Over Bitcoin Trend Strength: What To Expect An Elliott Wave corrective triangle will appear during a wave 2 or 4 of a motive wave, which represents the primary trend. An Elliott wave corrective triangle and its higher lows would keep the bull run structure in tact, and fit the Elliott Wave rule of wave alternation. If Bitcoin is in a motive wave, wave 5 should begin soon | Source: BTCUSD on TradingView.com This rule suggests that only one of the two corrective waves – wave 2 or 4 – will result in a sharp correction. The other would be a sideways correction lacking a lower low. Not only do corrective waves tend to alternate in overall severity, the patterns tend to switch. This means that if wave 2 was an Elliott Wave zig-zag, then wave 4 would be a flat, triangle, or other pattern. Eliott Wave Theory provides the roadmap for a trend. The roadmap continues to say until proven otherwise, that once wave 4 ends, wave 5 begins. But for now, bulls aren’t yet out of the woods and a sweep of lows could still be possible. Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com
Bears betting on a fresh Bitcoin price capitulation may get definitively burned this time, argues Rekt Capital.
Messaging apps are ubiquitous – more than 3.6 billion people worldwide use them, with the average person sending up to 72 messages every 24 hours. Every day WhatsApp alone channels over 100 billion messages, while WeChat transmits 205 million video messages. With this popularity has come a darker side: that of hacked personal data, cyber theft, and government violations of privacy. The way messaging apps are designed, work, and are managed exposes them by default to many risks: Most messaging apps require the user to input sensitive personal data, including name, phone number, and date of birth. WhatsApp, due to its database of user phone numbers, has been used to spread misinformation and fake news. Your messaging data is stored on the cloud, where it is not encrypted – leaving it vulnerable to being hacked. Many apps use your personal data for their own purposes. Facebook is known to share the data of Facebook Messenger and WhatsApp users with advertisers.. Global surveillance operations of citizens with WhatsApp accounts have been undertaken by governments via the use of spyware. A recent series of high-profile events have highlighted the size and frequency of the problem: In September 2021, the EU’s privacy watchdog fined WhatsApp €255 million for data processing and data sharing violations. Telegram, considered the safer option to WhatsApp, suffered a massive data leak in August 2020 that exposed the personal data of over 500 million users. The personal data, including email addresses and phone numbers, of over 530 million Facebook Messenger users was stolen by hackers in April 2021. Furthermore, newer messaging platforms are not addressing the problem effectively. Signal, considered to be a superior alternative to both WhatsApp and Telegram, still uses cloud-based architecture and allows messages to non-users that are non-encrypted. A real and viable solution may instead be found in the power of Blockchain technology. A team of Lithuanian communication technology experts has recently developed a solution that specifically eliminates all the problems of global messaging platforms. This solution is called Secretum. Secretum is the world’s first and only decentralised, encrypted messaging app, built on the Solana Blockchain. It offers users a safe, hassle-free, and direct messaging platform, revolving around major technological advantages: No servers, no moderators, and complete end-to-end encryption for all messages between users. No message data or file storage in a centralised location or on the cloud – only on trusted and independently verified nodes in the Secretum network. Users can sign up exclusively with their crypto wallet addresses. No need to share names, birthdates, or any other sensitive data – in other words, total anonymity. In addition to these advantages as a messaging app, Secretum allows users to trade P2P fungible and non-fungible crypto assets in a cost-effective way, bypassing existing exchanges. Solana, considered the fastest Blockchain in the world, allows Secretum to leverage low gas fees and high block speeds, joining a successful crypto ecosystem with 400+ projects worldwide. The result is an app that drastically changes the way people communicate via instant messaging, making it safer, more reliable, and more user-friendly than ever before. Secretum has the potential to grow into a globally known, renowned, and used platform – achieving the ubiquity of WhatsApp or Telegram, only without any of their major weaknesses.
