Bitcoin And Crypto Market Could Rise Steadily: BCH, Tron, XLM, ADA Analysis

November 6, 2019

Will Bitcoin crash or rise? What do experts say now, is it the time to invest in bitcoin?

The total crypto market cap is holding a key support near the $240.0B and $238.0B levels.
Stellar (XLM) price surged in the past few days and settled above the $0.0800 resistance.
Bitcoin cash price is up more than 2% and it is approaching the $300 resistance area.
Tron (TRX) price is currently correcting lower and it is approaching the $0.0195 support.
Cardano (ADA) price is slowly rising and it could soon test the $0.0460 and $0.0475 resistances.

The crypto market cap and bitcoin (BTC) are rising steadily. Ethereum, BCH, ripple, stellar (XLM), EOS, TRX, and cardano (ADA) might climb higher.

Bitcoin Cash Price Analysis

After a downside correction, BCH price found support near the $280 and $285 levels against the US Dollar. The price is now moving higher and it is trading above the $295 level. It seems like it could soon surpass the $300 resistance and climb towards the $320 level in the near term.

On the downside, an initial support is near the $292 level. However, the main support for the bulls is near the $285 and $280 levels.

Stellar (XLM), Tron (TRX) and ADA Price Analysis

Stellar price rallied in the past few days and surged above the $0.0720 and $0.0750 resistance levels. XLM price even settled above the $0.0800 resistance and it is currently consolidating gains. An initial support is near the $0.0805, followed by the main $0.0800 level. On the upside, the key resistances are near the $0.0820 and $0.0832 levels.

Tron price is currently correcting lower and it recently traded below the $0.0200 support. TRX price may soon test the $0.0195 support area, where the bulls are likely to take a stand. On the upside, a clear break above the $0.0205 resistance might push the price towards the $0.0220 level.

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Cardano price is holding gains above the $0.0420 level and it is slowly climbing higher. An initial resistance is near the $0.0445 and $0.0450 levels, above which ADA price could accelerate gains towards the $0.0475 level. On the downside, there are supports near $0.0420 and $0.0412.

Crypto Market Cap

Looking at the total cryptocurrency market cap 4-hours chart, there are positive signs above the $240.0B and $238.0B support levels. There is also a connecting bullish trend line forming with support near the $240.0B level. Therefore, a downside break below the $238.0B level could push the market cap back towards the $230.0B support area.

If not, there are chances of more gains in bitcoin, Ethereum, EOS, stellar, LTC, ADA, EOS, ripple, TRX and other altcoins in the near term. On the upside, the main hurdles for the crypto market cap are near $250.0B and $255.0B.

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10 Things You Need to Know Before Investing in Cryptocurrency

Cryptocurrency has become increasingly popular as an investment opportunity, with many investors hoping to cash in on the potential profits that can come with trading digital currencies. However, investing in cryptocurrency can be risky and complex, especially for beginners. In this guide, we’ll cover 10 things you need to know before investing in cryptocurrency, including risk factors, investment strategies, and more. Part 1: Understand the Technology Before investing in cryptocurrency, it’s important to have a basic understanding of the technology that powers it. Cryptocurrency is based on blockchain technology, which is a decentralized ledger system that allows for secure, transparent transactions. Understanding how blockchain works can help you make more informed investment decisions. Part 2: Know the Risks Cryptocurrency is a highly volatile investment, with prices often fluctuating rapidly and unpredictably. Additionally, there are several risks associated with the cryptocurrency market, including hacking and fraud. Before investing, it’s important to understand these risks and develop a risk management strategy. Part 3: Choose Your Investments Wisely There are thousands of different cryptocurrencies available, and not all of them are created equal. Before investing, it’s important to research and choose your investments wisely. Look for cryptocurrencies with strong fundamentals, such as a solid team and community, and a clear use case. Part 4: Diversify Your Portfolio Diversification is key to any successful investment strategy, and the same is true for cryptocurrency. By diversifying your portfolio across multiple cryptocurrencies, you can help mitigate risk and increase your chances of success. Part 5: Have a Plan Before investing in cryptocurrency, it’s important to have a plan in place. This can include setting investment goals, establishing risk management strategies, and determining when to buy and sell. Part 6: Stay Up to Date The cryptocurrency market is constantly changing and evolving, and it’s important to stay up to date on the latest news and trends. This can help you make informed investment decisions and stay ahead of the competition. Part 7: Choose the Right Exchange Choosing the right cryptocurrency exchange is critical to your success as an investor. Look for exchanges that are secure, reputable, and offer a wide variety of trading pairs. Part 8: Understand Tax Implications Investing in cryptocurrency can have tax implications, and it’s important to understand these implications before investing. Consult with a tax professional to ensure you comply with all applicable laws and regulations. Part 9: Invest Only What You Can Afford to Lose Cryptocurrency is a high-risk investment, and it’s important to invest only what you can afford to lose. Never invest money that you need for essential expenses, such as rent or food. Part 10: Be Patient Investing in cryptocurrency can be a long-term game, and it’s important to be patient. Prices can fluctuate wildly in the short term, but over the long term, strong investments have the potential to yield significant returns. Conclusion Investing in cryptocurrency can be a complex and challenging endeavor. But with the right knowledge and strategies, it can also be very rewarding. By understanding the risks, choosing your investments wisely, and having a solid plan in place, you can increase your chances of success and potentially profit from this exciting new asset class.
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The US Treasury Department makes a powerful advertisement for Monero

How will blocking the Tornado Cash mixer affect the crypto market? The desire of the US authorities to block the popular Tornado Cash protocol can only lead to a sharp increase in the popularity of tokens with high anonymity, such as Monero and the like. Interestingly, in recent weeks, this is at least the third strong signal that XMR will be almost an ideal coin for investment. Cryptocurrencies as a whole rebounded from the bottom at the beginning of the summer. And gradually recovering the positions lost against the background of sanctions and economic uncertainty. A big event in the world of Monero is scheduled for August 13 – a large-scale update that should simplify the work with the token, further increase its security, and, in general, give more opportunities to investors. Most of them choose Monero precisely because of the security of the token. A specific feature of Monero is ring signatures, the algorithm of which makes it impossible to determine the specific two sides of transactions. You will always have to choose from several equally likely people who verified the transaction. Before the update, the ring size was 11 people, after the update, it will be 16. Which, mathematically speaking, increased the already high level of anonymity by at least 30%. Now there is a new signal that Monero and other protected tokens are the right choices for the foreseeable future. On August 8, the US Treasury Department added Tornado Cash and its associated digital wallet addresses to the sanctions list. Focusing on the US Treasury, the project addresses were blocked by Circle, Infura, and Alcemy. Github went the furthest, blocking the account of Tornado Cash developer and co-founder Roman Semenov. The United States has thoroughly taken up the regulation of the cryptocurrency sphere; Tornado Cash is not the first and certainly not the last tool against which sanctions are being imposed. A side effect is sure to be a sharp increase in the popularity of protected tokens – yes, you need to call Monero again. It has already added 40% of the cost in recent weeks, and after August 13, in combination with the activity of the US Treasury, its cost may fly into space.
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Bitcoin Mining Shutdown Cause 20% Surge in Electricity Bills

The closure of a Bitcoin mining facility in Hadsel, Norway, has resulted in a significant rise in electricity costs for residents, highlighting the economic relationship between Bitcoin mining and local energy markets. The mining operation, run by Kryptovault, accounted for 20% of the revenue for Noranett, the local power company. When the municipality declined to renew the permit due to complaints about the noise generated by the mine’s cooling fans, the loss of this large customer led to a 20% increase in electricity bills for residents, with some facing up to $300 more per month. This situation emphasizes the benefits of Bitcoin mining in terms of distributing grid expenses. The presence of the mining facility helped keep energy prices lower for households by contributing to the overall revenue of the power company. Without the mine’s energy consumption, fixed grid costs now fall more heavily on residents, who are left to cover the shortfall in revenue. The incident has also sparked a broader debate in Norway about the future of energy-intensive Bitcoin mining operations. Some argue for more restrictions on mining due to its high energy demands, noise, and environmental concerns. However, this case illustrates the economic consequences of losing such large customers, as Bitcoin miners can play a critical role in stabilizing local energy grids by absorbing excess capacity and helping to keep costs manageable for residents. If Norway imposes further restrictions on mining, it could drive these operations abroad, potentially increasing local electricity prices further as power companies would have fewer major customers to help offset costs. This underscores the complex trade-offs between the environmental, social, and economic impacts of Bitcoin mining. bitcoinmagazine.com
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AI is a new trend in crypto: 3 things to know

Simply put, AI is the idea and practice of creating intelligent-looking robots. To make this happen, machine learning, artificial neural networks, and deep learning are being developed. The blockchain is an innovative digital file system that stores data in an encrypted distributed ledger format. Because data is encrypted and distributed across multiple computers, it can be used to create secure databases that only authorized users can access. For example, here are three ways that artificial intelligence (AI) and blockchain complement each other. AI and encryption work well together The data stored on the blockchain is by definition secure due to the encryption used. This means that blockchain is ideal for storing highly sensitive personal data and, if properly processed, can bring out a wealth of value and convenience. Consider an advanced medical system that makes accurate diagnoses based on scans and data, or the recommended engine that Amazon and Netflix use to recommend what to buy or watch next. The companies that trade it have to spend a lot of money to meet their data security requirements. Still, large-scale data breaches that lead to the loss of personal data are becoming more regular. Many AIs can also be provided in terms of security. A new topic in AI focuses on developing algorithms that process (process or manipulate) encrypted data. Blockchain can monitor, analyze, and explain AI decisions People do not always understand AI decisions. You can “learn” by individually examining the many factors that determine your overall goals. You can use the AI algorithm to determine if a financial transaction is fraudulent and needs to be suspended or investigated. For example, Wal-Mart puts monthly sales data into an AI algorithm to determine what to sell and where to sell it. Saving the selections one point at a time to the blockchain facilitates validation and ensures that the records have not changed between the time they are recorded and the time the validation process begins. Transparency and insight into the robot’s brain can be achieved by recording the decision-making process on the blockchain. AI can handle blockchain better than humans (or “stupid” computers) Computers are always fast, but stupid. Computers cannot perform tasks without specific instructions. Because blockchain data is encrypted, it requires a lot of computing power to be used on “dumb” machines. For example, the hash algorithm used to mine blocks in the Bitcoin blockchain uses a “brute force” method to test all possible character combinations until a suitable character is found. Also, AI is great for predicting prices in volatile cryptocurrency markets. For example, the popular crypto wallet Crypterium is using its AI-based system with more than 200 factors, 101 trading alphas, and a self-learning algorithm to predict prices for more than 140 coins with a 93% accuracy rate. AI is an attempt to make activities smarter and more thoughtful. Think about how human cryptanalysis specialists can improve and become more efficient as they break more ciphers. Blockchain and AI are two technological phenomena, which, when combined, can be far more destructive. Both help improve each other’s skills while improving monitoring and accountability.
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Proof of Workforce and Careers In Government Partner to Integrate Bitcoin into Public Sector Jobs

In a significant move for both the cryptocurrency and public sectors, the Proof of Workforce Foundation (POWF) and Careers In Government Inc. (CIG) have announced a strategic partnership to integrate Bitcoin into public sector employment practices. This initiative aims to revolutionize how government employees are compensated and incentivized, enhancing financial security, attracting top talent, and fostering innovation within the public sector. The collaboration is designed to create a scalable model for Bitcoin-based compensation and benefits that could be adopted by government employers nationwide. Objectives of the Partnership The partnership between POWF and CIG focuses on several key objectives: Integrating Bitcoin into Salary and Benefits: Developing strategies to incorporate Bitcoin into public sector salary options and incentive structures. Boosting Job Satisfaction: Offering financial protection against inflation and economic uncertainties to enhance job satisfaction and retention. Promoting Financial Literacy: Providing educational opportunities and training related to Bitcoin to increase financial literacy among public sector employees. Encouraging Adoption: Implementing outreach campaigns and tailored training programs to encourage Bitcoin adoption in the public sector. Statements from Key Figures The announcement has garnered positive responses from leaders of both organizations. Michael and Corey Hurwitz, founders of Careers In Government, commented, “Integrating Bitcoin into public sector employment practices will not only attract and retain top talent but also promote financial literacy and inclusion, aligning with our mission to connect talented individuals with meaningful careers.” Dom Bei, Founder of the Proof of Workforce Foundation, added, “We are excited to partner with Careers In Government to advance Bitcoin adoption in the public sector. This collaboration represents a significant step forward in empowering government employers and employees to embrace the benefits of this innovative technology.” Educational and Training Initiatives In addition to integrating Bitcoin into compensation structures, the partnership will focus on promoting financial literacy among public sector workers. This will involve: Educational Programs: Offering courses and resources on Bitcoin and cryptocurrency to enhance understanding and management of digital assets. Professional Development: Providing training opportunities to help public sector employees navigate the use of Bitcoin in their financial practices. Outreach Campaigns: Conduct campaigns to raise awareness about the benefits of Bitcoin and encourage its adoption in government operations. Previous Initiatives by POWF The Proof of Workforce Foundation has already made strides in integrating Bitcoin into government operations. Notably, earlier this summer, POWF collaborated with the City of Santa Monica to establish an official Bitcoin office. This historic initiative was accomplished at no cost to the city, demonstrating POWF’s commitment to advancing Bitcoin adoption within public institutions. Impact and Future Prospects The strategic partnership between POWF and CIG is poised to have a transformative impact on public-sector employment practices. By integrating Bitcoin into compensation and benefits, the initiative aims to: Enhance Financial Security: Provide public sector employees with a hedge against inflation and economic instability. Attract and Retain Talent: Offer competitive compensation options that appeal to top talent. Foster Innovation: Promote the adoption of cutting-edge technology within government operations. As the partnership progresses, it will be important to monitor its implementation and evaluate its success in achieving these objectives. The initiative represents a bold step towards modernizing public sector employment practices and could serve as a model for other government employers seeking to embrace cryptocurrency. Conclusion The collaboration between the Proof of Workforce Foundation and Careers In Government Inc. marks a significant advancement in the integration of Bitcoin into public sector employment. By focusing on Bitcoin-based compensation, financial literacy, and innovation, this partnership has the potential to reshape how government employees are compensated and supported. As the public sector increasingly explores the benefits of cryptocurrency, the success of this initiative could pave the way for broader adoption and integration of Bitcoin across various governmental functions. Source: bitcoinmagazine.com
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Bitcoin And Crypto Market Could Rise Steadily: BCH, Tron, XLM, ADA Analysis

Bitcoin Cash Price Analysis

Stellar (XLM), Tron (TRX) and ADA Price Analysis

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