„The very aspects that make it a strong asset class could seal its failure,“ says the former Goldmann-Sachs president.

Gary Cohn, former president of Goldman Sachs and former senior economic advisor to Donald Trump, believes Bitcoin Champion may not be a long-term prospect for investors.

In an interview with Bloomberg, Cohn said the crypto asset lacks transparency and „the basic integrity of a real market. He said that investors might question such a system, „which has no audit trail“.

„The very aspects that make it a strong asset class could seal its failure,“ Cohn said of Bitcoin. „The integrity of a system includes certainty about who owns it and certainty about who owns it and certainty about why it is being transferred.

The former president of Goldman Sachs spoke about Bitcoin (BTC) and Blockchain after his resignation from his position in the Trump government in 2018. Since then, he has been a consulting staff member of the blockchain technology company Spring Labs.

After the 2017 bull run, Cohn said he was „not a big fan“ of Bitcoin. But he still sees potential in blockchain technology. At the time, Cohn believed crypto would play a role in the future of finance. But a global token that is „easier to understand“ than Bitcoin would probably play a role. He cited mining costs as a potential aspect that could cause confusion among investors.

According to Coinbase, BTC had just recently officially surpassed its previous all-time high of $19,892 according to Coinbase. After reaching this critical level, some whales sold some coins, probably causing the slight decline that followed. The BTC price at the time of going to press was around 19,000 US dollars.

Libra changes its name to Diem: Hope for a new image

The project hopes to improve its image with a new name after many regulatory difficulties with the Libra.

According to a press release on Tuesday, the Libra Association is changing its name to Diem Association.

This change is probably due to the hope that it will improve its image. Facebook originally announced its global Stablecoin Libra in June last year. This immediately caused a stir among regulators. The project has been under fire ever since. Facebook’s involvement is particularly controversial.

The new name uses the Latin word for day, as in „carpe diem“. The press release of the association after the announcement roughly suggests that the image of the project has to be changed:

„With the change of the name to ‚Diem‘ a metaphorical new day for the project should begin. The Diem Association wants to continue to build for a secure, protected and compliant payment system that supports people and businesses around the world.

Just last week, the Libra Association announced that it would launch a version of the Libra pegged to the US dollar in January. With this, the association wants to appease the regulatory authorities in the USA. These were against the Association gaining full control over the „basket of currencies“ that was originally intended for the project.

Stuart Levey, CEO of the Diem Association, said: „We are pleased to introduce Diem. A new name that signals the growing maturity and independence of the project“.

Bitcoin’s interrupted rally has increased the likelihood of a major pullback, according to independent analyst Vince Prince.

The TradingView.com author writes that there is a 35 percent chance that Bitcoin price will fall soon. He cites a textbook technical indicator that predicts declining reversal patterns.

The pattern known as „head and shoulder“ appears during an asset’s uptrend. Traders acknowledge it when they see three highs forming on a support-like baseline.

The middle peak is higher than the other two, so that it looks like a head hanging over two shoulders on each side – hence „Head and Shoulder“

The H&S patterns typically end in a breakout below the baseline, with a downward target well below the structure’s maximum elevation. Prince comments that Bitcoin forms a similar technical setup, with the left shoulder and head fully confirmed and the right shoulder partially fixed.

„Bitcoin is already being traded in overbought zones,“ he adds. “That doesn’t mean that it can move higher and make new highs. However, the downward prospect should by no means be underestimated. Bitcoin moves in zones in which a rapid reversal and change of direction can be established more easily. “

If the H&S pattern is valid, Bitcoin risks being about $ 1,600 below its baseline (the level between the high and the support). The yellow area in the graph above shows the ideal target area for the H&S outbreak.

What risks Bitcoin is exposed to

Prince’s bearish outlook for Bitcoin received involuntary support from the cryptocurrency futures market. According to Glassnode, the average „funding rate“ across all Bitcoin exchanges has risen to levels suggesting that traders may have been over-leveraged through open-ended contracts.

Measured every eight hours, the refinancing rate shows the cost of holding a bullish contract, that is, a long position. A positive value indicates that bulls are paying bears.

This increases the value of the perpetual contract via the Bitcoin spot rate. Hence, a very high refinancing rate signals that leverage is unduly skewed in favor of the bulls. It is an overbought condition.

An event of a pullback in the cash market can lead to massive long liquidations, which can lead to more price declines and higher volatility.

The optimistic perspective

However, Prince also believes in a limited corrective downtrend. He writes that Bitcoin could find support at the H&S neckline in order to rise higher again – and that could invalidate the entire trend reversal theory as a whole.

Vince’s conclusion:

„Since Bitcoin still has solid supports [near] the 65 EMA and the blue horizontal support, the bullish breakout has a greater 65% probability“

Its upward outlook sees Bitcoin at over $ 19,000.

The crypto ecosystem is diverse and combines very different types of investors. A look at cryptocurrencies through the psychological lens.

The various buyers of Bitcoin and Co.

There are roughly four types of people who buy cryptocurrency. The first is the genus Hodler. These are people who have a deep understanding of the underlying blockchain technology and who remain loyal to their coins forever. Hodler are there for the long term – be it to the moon or to the bottom of the valley.

The second type of people who buy cryptocurrencies are retail investors. These are the people who tend to be more trending and stumble into the crypto market with short term investment strategies. When cryptocurrencies like Bitcoin Pro platform rise, they quickly jump on the bandwagon. But if the hoped-for profits fail to materialize and the market consolidates, they exit just as quickly and liquidate their assets.

The third type of people who buy cryptocurrency are institutional investors. These can be hedge funds, investment firms and banks, or public figures such as Twitter CEO Jack Dorsey. The reason Dorsey is included on this list is that he is unlikely to personally call Bitcoin exchanges like Coinbase or Binance and buy cryptocurrency through them. He is much more likely to buy through an OTC counter with an intermediary such as a financial advisor. These people get on and off the train according to their needs and budget.

The fourth type of people who buy cryptocurrency are criminals. Unfortunately, in the eyes of many people, cryptocurrency, and especially Bitcoin, are linked to illegal activity. While criminals use Bitcoin for their activities (especially hackers), they tend to turn to privacy coins like Monero , which better protect their privacy. They also make up an ever smaller percentage of crypto users as more and more people hold digital currencies overall.

The psychology of the crypto trader

The crypto market never sleeps and that has a similar impact on people who actively trade cryptocurrency. Investors can only protect themselves from the highly volatile price events with stop-loss and other useful tools that can be found on most crypto exchange platforms.

Then comes the problem of crypto custody. While buying, trading, and storing cryptocurrency is easier than ever, it is still far from being a process that can be quickly learned by an inexperienced person. Even for experienced cryptocurrency users, the notion that a single mistake in a wallet address could result in the loss of the coins being held can be very scary.

The future of cryptocurrency en

People who own cryptocurrency are all waiting for the day when crypto will finally become a common concept. The reality is that this will not happen until a healthy balance between regulation and freedom has been struck, either internally within the cryptocurrency community or with government support. In addition, cryptocurrencies must be better explained and marketed for outside interested parties.

Fortunately, these issues are gradually resolved over time. How quickly these processes take place is ultimately up to us. Trench warfare between supporters of different projects and coins stand in the way of the great goal of global crypto adaptation. Rather, the community should network and jointly announce the happy crypto message to the world.

You can’t just mine cryptomorphs for profit using other people’s systems without them approving it

An Italian airport employee supposedly used the computer systems at his workplace to mine Ethereum ( ETH ).

An employee at an airport located in the Italian city of Lamezia Terme, the employee allegedly planted mining malware in the airport’s computer systems, a press release from the Italian media Rai News said today.

The official said he had installed several mining platforms on site, taking advantage of the airport’s back-end systems in the process. The authorities ended up catching the culprit via a security camera.

The technical services provided by Sacal Global Solutions oversee the technical structure of airports in the Italian region of Calabria. The airport employee, 41, is believed to have accessed Sacal’s systems to install mining malware. The official’s actions have put the airport’s back-end systems at risk, the statement added.

„The researchers, with the collaboration of airport authorities, analysed the computer network partitions within the hub, discovering the presence, in two separate technical rooms, of a real ‚mining farm‘ […] connected to the external Internet through systems dedicated to managing airport services and powered by the airport’s electricity supply,“ reported Rai News, adding:

„The investigations, coordinated by the Lamezia Terme Public Prosecutor’s Office, were carried out with technical activities that made it possible to examine the IP addresses associated with the machines installed, to identify the site of the ‚Ethermine‘ pool (used for ‚mining‘ the cryptomeda Ethereum) and to monitor the site. „

Cryptomime mining malware is not an unusual threat in the industry. Near the peak of the last encryption market in January 2018, this malware is believed to have affected 55% of the world’s businesses.

Der Preis von Bitcoin liegt seit nur 93 Tagen über den aktuellen 11.500 USD. Ist dies eine Geschichtsstunde oder zeigt sie den Raum für Wachstum auf?

Bei einem Preis von Bitcoin von rund 11.500 US-Dollar deuteten jüngste Daten darauf hin, dass der Vermögenswert nur etwa drei Monate seines Bestehens über diesem bestimmten Niveau verbracht hatte.

BTC: Nur drei Monate über 11,5.000 USD

Der offizielle Start der ersten Kryptowährung erfolgte Anfang Januar 2009. Bitcoin wurde während der letzten massiven Finanzkrise geboren und war dieses „magische Geld“, dem in den ersten Jahren tatsächlich keine nennenswerte Aufmerksamkeit geschenkt wurde. Folglich wurde sein Preis für eine Weile nahe Null gehandelt.

Seitdem gewann Bitcoin Code jedoch an Zugkraft, was letztendlich im Laufe der Jahre zu einer starken Volatilität führte. Die massiven Schwankungen führten dazu, dass der Vermögenswert im Dezember 2017 ein Allzeithoch von fast 20.000 USD erreichte, und nur ein Jahr später sah BTC einen Preis unter 4.000 USD.

Zwei Jahre später ist Bitcoin derzeit bei rund 11.500 US-Dollar positioniert. Obwohl dieses Niveau fast doppelt so niedrig ist wie das Allzeithoch, haben aktuelle Daten des Analyseunternehmens Skew mitgeteilt, dass BTC nicht viel Zeit über 11.500 US-Dollar verbracht hat.

Genauer gesagt, der Preis von BTC lag seit Januar 2009 nur 93 Tage (oder drei Monate) über 11.500 USD.

Grundlagen vorhanden

Abgesehen von den oben genannten Daten hat die Hash-Rate von Bitcoin auch nach Abschluss der dritten Halbierung im Mai einen deutlichen Anstieg erfahren. Wie CryptoPotato kürzlich berichtete , erreichte die Metrik zur Messung der Rechenleistung, mit der Miner Transaktionen in der BTC-Blockchain validieren, ein neues Allzeithoch von 170 Exahashes pro Sekunde. Dies entspricht einer Steigerung von 40% in den fünf Monaten nach der Halbierung.

Obwohl die Hash-Rate nicht mit dem Preis korreliert, schlug ein anderer Bericht eine bevorstehende Preiserhöhung vor. Mit dem Hinweis, dass Bitcoin-Wale, dh Unternehmen mit mindestens 1.000 Münzen, die Akkumulation verlangsamt haben, behauptete Glassnode, dass dies letztendlich ein zinsbullisches Zeichen für den Vermögenspreis sein könnte.

In der Vergangenheit hat dies zu einer Chance für Privatanleger geführt, nachdem Wale aufgehört haben, große Mengen zu kaufen. Laut dem Analyseunternehmen befindet sich Bitcoin möglicherweise am „Beginn eines Vorlaufs zu einer Marktspitze“.

KORT OM

• MATIC handler muligvis i en faldende trekant.
• Der er støtte ved 170 og 140 satoshier.
• Tekniske indikatorer er for det meste uafgjort.

Matic Network (MATIC) -prisen er vendt tilbage til et supportniveau, der har været på plads siden maj.

Manglen på en stærk reaktion fra området antyder, at prisen i sidste ende vil gå i stykker.

MATIC Langsigtet support

I begyndelsen af maj nåede MATIC-prisen 170 satoshi-supportniveau og begyndte et opadgående træk, der førte til, at et højt niveau på 304 satoshier blev nået. De højere priser kunne imidlertid ikke opretholdes, og MATIC er faldet siden.

Mens MATIC har besøgt supportområdet flere gange, har hver afvisning været svagere end den foregående, hvilket er et tegn på faldende køberstyrke.

En sammenbrud fra 170 satoshi-understøttelsen kan potentielt udløse et kraftigt fald.

Cryptocurrency-forhandler @ Pentosh1 skitserede et MATIC-diagram, der viser, at prisen testes igen på et langsigtet supportniveau, der har startet adskillige hopp.

Potentiel sammenbrud

Et nærmere kig på det daglige diagram viser, at prisen følger en faldende modstandslinje, der findes inden for 170 satoshi-støtteområdet, og skabte en faldende trekant. som normalt betragtes som et bearish reverseringsmønster.

Tekniske indikatorer læner sig mod at være bullish, men har endnu ikke bekræftet noget. Mens MACD stiger, og RSI har genereret bullish divergens, er sidstnævnte under 50, og den stokastiske oscillator har endnu ikke lavet et bullish kryds.

Seks-timers diagrammet viser overhovedet ikke nogen bullish reverseringstegn. Dette gør en opdeling fra supportområdet til den mest sandsynlige mulighed, da der ikke er klare tegn på, at det modsatte vil forekomme.

Konklusion

Afslutningsvis er de to mest sandsynlige muligheder for Bitcoin Future bevægelse enten en opdeling fra 170 supportområdet eller en hoppe opad mod 205 satoshi-modstandsområdet.

På grund af den faldende styrke og manglen på bullish reverseringstegn synes den tidligere scenarie mulighed mere sandsynlig.