[Daily Discussion] Monday, November 05, 2018 Bitcoin Markets |
- [Daily Discussion] Monday, November 05, 2018
- [Altcoin Discussion] Monday, November 05, 2018
- The Connected Economy
- Bitcoin Price Watch: BTC/USD Turned Bullish Above $6,400
- 2018 Cryptocurrency Crash (Elliott Wave): Inflection Point
| [Daily Discussion] Monday, November 05, 2018 Posted: 04 Nov 2018 08:05 PM PST Thread topics include, but are not limited to:
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| [Altcoin Discussion] Monday, November 05, 2018 Posted: 04 Nov 2018 08:05 PM PST Thread topics include, but are not limited to:
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| Posted: 05 Nov 2018 12:53 AM PST I have been traveling a lot recently and teaching on the power of the new world economy, The Connected Economy. The industrial economy is gone. It's the economy you primarily exchange time for money or service for money. This economy was made obsolete by technology especially (E-commerce, Social Media, Mobile Phone, Apps, Artificial Intelligence, Big Data,IOT, Blockchain etc) Forty years ago we could only sell or buy from our immediate communities. Fast forward to today, we are trading with anyone anywhere in the world. All made possible by technology. Twenty-five years ago, if you were looking for the top 20 companies in the world you could count on seeing at least 10 oil and industrial companies on the list, but today 20 years later, if you were to check for the top 20 companies, you are likely to find no oil companies but only tech companies. What does that tell you? It means we are moving to a point where physical address will no longer mean anything and that communities are craving for easier ways to make things better. The Connected Economy was born due to an escalating global need of value in products and services because of technological shrinking of the world into a global village. Human beings now have access to billions of people to do business with that sell value in products or services. In the Connected Economy, you don't have to manufacture, you simply connect. Imagine you connect 1 million people to a value worth of $5 and your profit is only $1. It means you have made $1 × 1 million people = $1million dollars in profit. (Meanwhile you didn't have to manufacture anything) The Connected Economy is the Economy of prosperity & the Economy of Infinite Possibilities. In this article, we are trying to create a platform to hear the needs as Africans and start a serious conversation on how we can leapfrog on emerging technologies such as Blockchain especially to create wealth for the larger masses. It's a deliberate act that needs reshaping of the African mindset to believe in the digital economy and how we can now trigger this conversation of wealth creation which has been a no go area in most parts of Africa. We can't continue to look at technologies as non-African's and end up being the biggest consumers of it, like we have done with internet, TV, Email , E-commerce, Mobile phones, Social Media, Plastic Money Card etc. We have no reason not to see into the long term and build systems that will ensure the whole community benefits from the system we build. If China, Singapore, South Korea, India, UAE etc can use technology to change the lives of their people, why should it be so difficult for us in Africa to do it? "If you are the richest man in the midst of 99% poor people, it makes no room for your escape when the economic indices are being used to measure that community " The law of nature prescribes for the collective building and distribution of wealth, in this process majority become wealthy such that joy and happiness become spontaneous for the society. Eric Annan (CEO KuBitX Ltd) [link] [comments]  |
| Bitcoin Price Watch: BTC/USD Turned Bullish Above $6,400 Posted: 05 Nov 2018 03:44 AM PST Key Points Bitcoin price surged higher recently and broke the $6,350 and $6,375 resistances against the US Dollar. There was a break above a major contracting triangle with resistance at $6,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price traded towards the $6,475 level and it is currently correcting lower. Bitcoin price moved into a bullish zone above $6,375 against the US Dollar. BTC/USD is correcting lower, but it is likely to find support near $6,380 or $6,375. Bitcoin Price Analysis After testing the $6,200 support area, bitcoin price found a strong buying interest against the US Dollar. The BTC/USD pair started an upward move and traded above,.............more info follow below link cryptonews24x7.net [link] [comments]  |
| 2018 Cryptocurrency Crash (Elliott Wave): Inflection Point Posted: 04 Nov 2018 01:32 AM PDT 2018 Cryptocurrency Crash (Elliott Wave): Inflection Point Crosspost: https://bitcointalk.org/index.php?topic=2711461.msg47569859#msg47569859 History —08-JAN-2018: Elliott Wave, https://redd.it/7ptsg3 —12-JAN-2018: Crypto Black Monday, https://redd.it/7pxg0d —24-JAN-2018: Dotcom vs Crypto, https://redd.it/7skzff —21-FEB-2018: Bear Market Resumes, https://redd.it/7z8u6n —28-FEB-2018: Halfway Through, https://redd.it/7umjf9 —13-MAR-2018: Fare Thee Well Ten Thousand, #10kNeverAgain: https://redd.it/842ssd —19-MAR-2018: Equinox, https://redd.it/85m5tr —03-APR-2018: April Fools' Rally, https://redd.it/89jqye —19-APR-2018: 420 High, https://redd.it/8dbz4f —25-APR-2018: Symmetrical Triangle, https://redd.it/8ev2ki —06-MAY-2018: Ten Thousand Tease, https://redd.it/8hdhjn —29-MAY-2018: Triangle Phinance, https://redd.it/8mwx6z —10-JUN-2018: Triangle Phinance II, https://redd.it/8q5p68 —23-JUL-2018: Redux, https://redd.it/913xx6 —02-SEP-2018: #ShortSeptember, https://redd.it/9c96vk —04-NOV-2018: Inflection Point, https://redd.it/9u1y3z TLDR: https://i.imgur.com/EGmziB1.png The Bitcoin and cryptocurrency bear market of 2018 has reached a point of inflection, where alternative scenarios and projections can now be explored using Elliott Wave theory. From the 17-DEC-2017 high to the 06-FEB-2018 low, the Bitcoin market endured a 70% price collapse from the all-time high of $19,891 to a low of $6,000 in just 51 days (BITFINEX). In Elliott Wave parlance, this first phase crash is a simple but sharp three wave a-b-c zigzag pattern. From the 06-FEB-2018 low, the Bitcoin market then wandered sideways for 168 days until 24-JUL-2018, creating a floor of support at $6,000 whilst making successively lower highs. The psychological $6,000 price has been guarded since it marks support of the psychological USD$100 billion Bitcoin marketcap. In Elliott Wave parlance, this second phase of market development is a triangle pattern consisting of five a-b-c-d-e waves. The internal structure of the waves within the triangle are related to each other in terms of length as the following Fibonacci ratios: https://i.imgur.com/Bm4Nx7a.png The triangle phase of the Bitcoin market completed at the 24-JUL-2018 high. Since then, the third phase of market has been underway with an expectation of creating new lows for 2018 at sub $6,000 prices. Initial approx targets have been projected as follows (BITSTAMP): Any of the aforementioned approx price levels based on Fibonacci projections are potential targets of where the 2018 bear market may conclude. Should price retrace below the Fibonacci 78.6% of the entire Bitcoin market, i.e. below the psychological $4,000 level; it may suggest the bear market extends into 2019 with an expectation of a 90%-95% decline of the entire Bitcoin market to approx $1,000 by 2020. Such a scenario would be consistent with the collapse of other historical asset mania bubble bursts, which typically elapse 2 years on average: thebubblebubble.com/historic-crashes However, the Bitcoin market has reached an inflection point. The third phase of the bear market appears to have stagnated in price and time. Since 09-SEP-2018, price has traded in a narrow 10% range at an average price of $6,400 for almost 60 days thus far. Volatility is now at a 22-month low and technicals such as moving averages are flat-lining across daily timeframes. This behaviour has been quite unexpected. Since completion of the consolidating triangle phase of the market, volume and volatility was expected to breakout. Speculators and traders have left the stabilised cryptocurrency marketplace in favour of the more volatile global equity bear markets. An alternative scenario can now be considered: Since completion of the triangle at the 24-JUL-2018 high, the concluding phase of the bear market may have declined and truncated at the 11-OCT-2018 low. If so, a cyclical (i.e. short-term) bull market may be commencing within an overall secular (i.e. long-term) bear market. Such a bull market would be termed as a wave-X as part of a complex ongoing long-term bear market structure. https://i.imgur.com/vePkBiL.png In some schools of Elliott Wave thought, the wave-X bull market may unfold in five 1-2-3-4-5 impulsive waves; or, as three a-b-c corrective waves considered in other schools of thought. Either way, the size of a wave-X is challenging to predict. Typically, it may retrace either a Fibonacci 38.2%, 50%, 61.8% or 78.6% of the entire 2018 bear market; that is approx $11,081 or $12,720 or $14,360 or $16,705 respectively (BITSTAMP). In some cases, a wave-X may extend to, and even exceed prior all-time highs, like typically seen in commodity and forex markets. The wave-X cyclical bull market could be a swift parabolic move elapsing within 12 months during the course of 2019, and thus the overall secular bear market may still resume to unfold to a low in late 2020. In summary, the parameters of the inflection point can be currently defined as follows, using BITSTAMP prices… Bear Market Inflection Points —A break below the 11-OCT-2018 low of $6,055 would be the first indication to suggest the bear market is still underway. —A break below the 14-AUG-2018 low of $5,880 would confirm the ongoing bear market. —A break below $4,000 may suggest an extended bear market leading to a 90%-95% collapse of the entire Bitcoin market by 2020. Bull Market Inflection Points —A break above the 15-OCT-2018 high of $6,756 would be the first indication to suggest a bull market may be commencing. —A break above the 04-SEP-2018 high of $7,412 would likely confirm a bull market is underway. Notes —Bitcoin CBOE XBT futures expiries: 14-NOV-2018, 19-DEC-2018 —Bitcoin CME futures last trade dates: 30-NOV-2018, 28-DEC-2018 —Bitcoin ICE Bakkt daily futures tentative launch: 12-DEC-2018 —S&P500: global stockmarket indices appear to have topped, and a bear market is underway. Expectation is a rally into the end of year 2018 towards $2,800+ in the S&P500 index, followed by a decline to approx $2,400 by Easter 2019 to end the brief equity bear market. —Gold: rally underway, expectation to conclude at approx $1,260, and then bear market resumes to sub $1,000 by 2020. —US Dollar: expecting uptrend to be bounded by approx 98, and then bear market resumes. Elliott Wave models are speculative and indicative of price and structure, not time; i.e. the projections may occur sooner or later than anticipated. —BTC (Weekly): https://i.imgur.com/B0ftUHf.png —BTC (Daily): https://i.imgur.com/ljfMvlt.png —BTC (4-hr): https://i.imgur.com/Ip1QQTe.png [link] [comments]  |
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