Why Did Bitcoin Retrace? EOS Price, Telegram's TON Update, Harvard Crypto, Mainstream Adoption



hey everybody it is Maddie here with altcoin buzz with you on this Friday hope you're having a terrific one and a good end here week despite the downturn that we've seen in the market we're gonna talk about that today but the silver lining is the fact that we've still maintained that support of $5,000 for a Bitcoin we're gonna discuss that we're gonna believe some more optimistic perspectives in the form of what Brian Kelly has been saying we'll take a brief look at this yo s price analysis by Robert and you have analysts saying that despite the drop that we've seen over the last 24 or so hours it's unlikely again that's just according to some but unlikely that we're gonna see a $4,000 Bitcoin we have news of a brexit as it relates to the crypto markets and their response to the politics going on in the UK Harvard is in the news they've intersected with the world of crypto taking the plunge into that space with a token sale investment and then we're going to round out the news today with the telegram information so they're taun blockchain is live in in private testing mode we'll take a look at that from a couple of different perspectives as well finally as this IMF poll we talked about the International Monetary Fund yesterday well they have a poll that's come out cryptocurrency payments according to that poll will be mainstream by 2024 let's begin here on coin Gekko calm with a snapshot of the market we're down 1% overall at a hundred and seventy 1 billion dollars currently for the total cryptocurrency market cap things have definitely taken a slide but as you can see at least at the time of this recording Bitcoin still sits above 5,000 dollars at least for now everything else has taken a hit in the range of 1 2 3 4 5 % nevertheless most of these projects with a couple of exceptions actually I'm seeing here Cardno Bitcoin cash litecoin and Finance coin they're still down on the weak vise in some cases nearly double digits so that's what it looks like right now the altcoin seem to have been affected much more severely than Bitcoin itself like I said the most important thing is that it's still sitting at the five thousand dollar support so let's explore that here on altcoin buzz at dot IO with this article by Luke cryptocurrency market suddenly takes a hit but the coin holds above $5000 today Bitcoin suddenly dropped almost 5% the drop came a few hours after reaching five thousand four hundred a new high since November of 2018 many major crypto currencies rights Luke are seeing significant losses after Bitcoin suddenly fell back to its psychological support at five thousand dollars with that after some impressive growth over the last week and a half many crypto currencies are now deep in the red the overall crypto market suddenly decreased by 16 billion dollars over about 24 hours or so ending the rise that Bitcoin and most altcoins have seen over the last two weeks Bitcoin dropped by almost 5% but at least is now finally stabilizing at around five thousand dollars as I've been saying these past few days in the videos guys at least in the short-term and at least in my opinion what goes up must come down that's not to say that we're not going to be exponentially greater as far as value in this space in a few years but yeah over the short term you see Rises and you see Falls they follow each other and that's natural as Luc concludes over the next 48 hours it has to be seen if Bitcoin can hold this support of $5,000 unfortunately in not in his opinion a further decline to 4,700 and after that forty four hundred and forty two hundred is potentially in the cards so that's just a fair warning we don't want to see that happen but if it breaks support that is a possibility the eternal optimist Brian Kelly however believes Bitcoin all-time highs could be just around the corner of this article by Chris from today Brian Kelly CNBC contributor believes that Bitcoin can reach all-time highs with the upcoming halving and institutional investment Brian Kelly the founder of investment firm BK cm and CNBC contributor believes that bitcoin is on its way to new all-time highs his beliefs are based on the upcoming Bitcoin having in late May 2020 on the Fast Money segments Brian Kelly stated that this is a Bitcoin resurgence and the December 2018 lows in the three thousands are probably the lows that are you know have expressed bottom his reason for believing this is that one of the metrics he uses active addresses are up actually 26% since January he also points to the fact that fidelity is rolling out their institutional platform and the CMA Bitcoin futures reached near record volume last week quote I think there's a really good chance that the December lows we saw in the 3000 s are probably the low for this cycle there's a couple of things that are going on you've seen improving fundamentals you look at active addresses that's one of the big metrics I look at that's up 26 percent since January you look at transaction levels those are back to 2017 levels so there's a lot of network activity then you look at who's buying this you're seeing people like fidelity is still rolling out their institutional platform and then as a proxy look at the CMA Bitcoin futures the large open interest holders so these are big institutions those are all-time highs and it continues to grow last week they saw record volume on CME Bitcoin futures so you're starting to see institutional investors coming here with a good fundamental tailwind and that's got Bitcoin back in the saddle again yeah I agree I think that infrastructure that's being laid out right now foundationally does you represent that tailwind and I think is a good omen going forward take a look at the rest of Chris's article I tend to be in agreement with Brian Kelly here at least he's not you know promising anything specific or pointing out a certain date in particular but overall it's possible all-time highs could be just around the corner you never know although it's taken a hit one of the star performers in this latest altcoin run has been eat OS and we have a price analysis here by Robert who asks what is next according to Robert this is just the beginning for us it will continue to gain value and here is why he thinks that is the case according to coin gecko comm iOS has a market cap at the time of this publication of a five point four seven billion u.s. and a total supply of just over 1 billion they're currently ranked top 4 in terms of market cap the volume is pretty good as well currently at almost 4 point 85 billion and that has been an increase of almost 1 billion in the past 24 hours in terms of iOS Bitcoin short term chart analysis you have support at 10,300 Satoshi's and then 10,000 satoshis resistance is presenting itself at eleven point five thousand Satoshi's and then at twelve point one five thousand satoshis and again at the time of this publication the current price on coin Gekko com four dollars ninety-four cents let's just make sure that's still somewhat accurate actually were up higher sitting at five dollars twenty-eight cents currently on coin gecko comm so us has been one of those really quite very good performers actually if you want to take a look at some of the more technical analysis and get Roberts take on where things may be going then check out this article will link to it as always in the description below you can read it in full looking quickly at this piece here on news BTC dot-com according to one analyst despite the drop that we've seen Bitcoin is not likely to retrace to four thousand dollars following bitcoins overwhelmingly positive price action over the past couple of weeks the cryptocurrency has finally hit a strong level of resistance that sent it spiraling downwards now Bitcoin is beginning to establish fresh levels of support and resistance which may lead to the formation of fresh trading range and analysts are now explaining that Bitcoin does have multiple levels of strong support formed throughout the four thousand dollar region which means that a drop back to the lower four thousand dollar level is highly unlikely Alex Kruger an economist who primarily focuses his attention on crypto currencies discussed where bitcoins next levels of support exist in a recent tweet noting that a drop below five thousand dollars will likely lead the crypto down towards a four thousand seven hundred eighty quote coin base high was five thousand four hundred eighty nine don't expect to pull back to four thousand that's too deep five thousand and forty 78046 eighty forty five fifty which is the 200-day moving average of four thousand four hundred forty two hundred and resistance on the upward side is at fifty three fifty fifty five hundred fifty seven fifty six thousand and six thousand four hundred he explained in a tweet we'll have a technical analysis piece coming out shortly on this but I agree with Alex that there is a whole bunch of support on the way down then again there was a whole bunch of resistance on the way up and we just smashed through that so if the movement is large enough like I said the last time I think occasionally at least you can throw some of this chart analysis out of the window because it doesn't count for anything if the big players really start playing and whether they start buying or selling it's not always applicable as all saying but I would like to believe that this is the case let's see and let's hear your opinions in the comments below looking at this piece quickly on a theorem world news.com brexit delayed six months crypto markets respond so brexit has been delayed until halloween of 2019 with EU and crypto currency markets responding strongly to the news so at the same time as the No Deal brags it was looming over Europe the cryptocurrency markets took off on an explosion that saw Bitcoin rise over 30 percent in a week analysts were calling for crypto as an alternative to the British pound and euro given that both currencies were facing a convoluted and likely volatile future similar to its function in developing countries and those prone to hyperinflation Bitcoin became a more attractive means for wealth storage in comparison to its European a fiat counterparts however last week parliament voted against a No Deal brexit forcing Prime Minister Theresa May to come to terms with brexit in a manner that included negotiating and a road forward with the EU today brexit has again been put on hold as may was able to convince European Union leaders to push back the UK's exit to the end of October so the suggestion here is that predictably the crypto currency markets responded to this news do you guys believe that that's what caused Bitcoin to fall five percent and resulted in an overall decline in the valuation of crypto after the bullish phase that we saw I'm not so sure the two are related I'm not convinced that the correlation is quite that strong it could have been one factor it could have been the precipitating factor who knows but I'm not entirely sold on this idea to be honest however it's not a bad hypothesis if you want to read more about it in full and get the author's take on how cryptocurrency and brexit are linked check out this piece on aetherium world news.com ok here on Bloomberg comm with this story Harvard takes the plunge into crypto with a token sale in vestment article from April 11th Harvard University's endowment is backing blocks tack incorporated a crypto company that seeks to hold a 50 million dollar digital token offering block stat said in a regulatory filing Thursday that Charlie sera via a managing director at Harvard management company is a representative of an advisory committee it for the sale of tokens Harvard management and two other investors have already purchased about ninety-five point eight million of the company's tokens valued at about eleven point five million dollars according to the filing Harvard thus joins a small group of institutional investors that have jumped into crypto assets to pension plans in Virginia invested in a venture capital fund for the blockchain and digital assets industry earlier this year while in 2018 as I was just going to say Yale University made a similar investment so the universities are getting more and more involved at least more and more curious in the world of crypto and blockchain and we're just talking at the level of investments here let alone what they're teaching students with their course offerings are you can check out the full article article rather on bloomberg.com here it's an interesting piece and I think this is the sort of thing that is you know people are gonna take note of they're gonna realize that while if Harvard is associated with this sort of thing maybe it's not as illegitimate and scammy as the whole media world has been telling us in these last two years of FUD I take this as a good little piece of news let us know your thoughts as always in the comments below here on coin telegraph comm telegrams t om tong blockchain is live in private testing mode shows a high-speed according to a report global messaging app telegram has reportedly launched a private beta testing of its blockchain telegram open network russian media outlet that a mostly reports on April 11th according to them telegram has opened access to a testing version of taun blockchain to a limited number of global developers including russian developer teams citing two anonymous persons who acquired the early access the news agency reported that the dev teams were enabled to set up taun blockchain nodes from a different perspective that same news is being covered here on coin speaker comm so check it out telegram launched private testing for its tio n blockchain finally today in the news and again it's gonna have to be someone rapid fire but we talked about the IMF yesterday the International Monetary Fund and in a new poll they have a report indicating that crypto currency payments will be mainstream by 2024 so the quick rundown here is that more people prefer crypto that's not too surprising Bitcoin accepting merchants are increasing globally however there are issues that exist with cryptocurrency micro payments an ongoing poll by the IMF shows that more people believe that cryptocurrency will be the most popular payment means for lunch by 2024 so at the time of press more than half of the respondents say they would use cryptocurrency to pay for lunch in five years time of the almost 26,000 votes cast that's a big time legitimate poll 56 percent chose cryptocurrency while another 29% selected mobile phone payments you can see here that only 7% would respond or have we have responded with cash and 9% responded with a bank card with the continued integration of cryptocurrency payments on to mobile platforms perhaps some of those 29% exactly could pivot to the crypto side meanwhile cash and bank card payments so far have a combined total of 15% on the poll of course this relates back to the news that we discussed with coinbase case-in-point coinbase on Wednesday the 10th of April announced the launch of their cryptocurrency Visa card this allows UK customers to spend Bitcoin aetherium litecoin and other cryptos instantly at every visa accepting merchants so basically everywhere a portion of the company's blog post announcing the launch reads quote coin based card supports all crypto assets available to buy and sell on the coin based platform meaning that they can pay for a meal with Bitcoin or use aetherium to fund their train ticket home not only do people have a preference for crypto and they're more open-minded to it but of course the acceptance of Bitcoin is increasing globally take a look at this report in full link to this on Bitcoin Escom you can check it out and there are some important details to consider as well some problems that exist there are certain issues with cryptocurrency micro payments but nevertheless I think this is the trend moving forward and speaking of Harvard prior to this it's it's good to see a name a brand like the IMF that's reporting this kind of news because again that adds legitimacy to this space so let us know what you guys think in the comments below and that about rounds it out everybody to be sure your following us on all the regular social media and keep checking back into our website for updates all coin buzz dot IO go ahead like subscribe share and hit the bell to receive notifications if you enjoyed today's video have a great Friday everybody all the best if you choose to invest but have a great end to your week a great start to your weekend and we do hope to see you again soon in our next video take care

27 thoughts on “Why Did Bitcoin Retrace? EOS Price, Telegram's TON Update, Harvard Crypto, Mainstream Adoption”

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  4. Quite interesting your videos seem to cover the news posted in my tweets. Rather often too. Either a ton of coincidences or getting topics off my twitter? Or great minds think alike i guess.

  5. 2019/20 Łitecoin and Bitcoin Block reward halvings another day closer. More big ŁTC news in the pipeline! Ref Film Director CommonEnemy below

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  7. Наконец-то я дождался публичной ICO Telegram. Многие говорят, что этот токен попадет в топ-3 рейтинга криптовалюты. Мне удалось купить 3000 жетонов. Infotelegram.info/coins

  8. The fact that BTC held 3000 would imply strength moving forward. Of coarse, we must hold 4200 level & continue base building into the year-end. I see no stratospheric moves ( other than a false break-out) until after the weakness due mid-Sept. 2020!!! FREE

  9. UK is on route to become nothing more than an EU colony. Pathetic that UK citizens don't demand a real Brexit. When its all done May will have sold the UK citizens will be EU whipping boys. Pathetic what the UK has become. Get on with it.

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