Saxo Investment Bank is Bullish on Crypto Over Next 3 Months

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Saxo Investment Bank is Bullish on Crypto Over Next 3 Months

Influential investment bank Saxo released the 35 page, Q2 2018 Quarterly Outlook. In it, the bank’s newly hired Crypto Analyst, Jacob Pouncey, noted the perils of this year’s first financial quarter with regard to digital assets. Taking into account several factors, he believes the next three months could be a breakout time for digital assets, holding the potential to trigger a bull market.

Also read: German Cops Look Hard at Antics of ICO Savedroid After Ghost Prank

Heavy Hitter Saxo Bank Released Bullish Outlook on Cryptocurrencies

It takes all of 33 pages to find it, but there it is: a very influential investment bank not only hired a “Crypto Analyst,” but allowed him to have an authored section titled – Are Cryptocurrencies Entering a New Cycle?

The Danish bank, Saxo, forwarded its general outlook for 2018’s second set of three months. Turning to cryptos, Mr. Pouncey prefaced, “Cryptocurrencies fell back to earth with a bang in the first months of this year, having enjoyed exponential growth in 2017. The situation remains fragile, given the outlook to increased regulation and social media advertising bans. That said, we can’t rule out the possibility of a comeback.”

Saxo is based in Copenhagen, and its products include online trading in futures spreads, funds, bonds, CFDs, stocks, and even a foreign exchange. It has the rare charter of being both a proper bank and a broker. As such, it typically caters to institutional, legacy financial companies (more than 100 globally). Its European presence is well established, though it has exposure in the Middle East and Southeast Asia. Saxo claims to handle $12 billion USD daily, having clients in 180 countries.  

Saxo Investment Bank is Bullish on Crypto in the Next 3 Months

That its main analyst in the crypto sector is optimistic going forward means cover for institutional investors who’re looking to dabble. Indeed, Mr. Pouncey details, “The market has seen several acquisitions of crypto exchanges from financial firms such as Goldman Sachs backed Circle acquiring Poloniex, Monex Group acquiring Coincheck, and Yahoo Japan buying a 40% stake in Bitarg Exchange Tokyo.” Additionally, crypto exchanges such as Coinbase have been able to recruit real talent from Silicon Valley, and they’re being placed in key executive positions. These moves seem poised to take advantage of price spikes.

Mr. Pouncey concludes, “several events could serve as springboards for a cryptocurrency bull market in Q2, whether it is through fundamental drivers, or it is just a self-fulfilling prophecy [….] In my opinion, we will eventually see the end of the current, negative cryptocurrency cycle, as many of the weak hands have been shaken out by the bear market and the remaining investors are on the ready to latch onto any good news after the bad start this year.”

Saxo Investment Bank is Bullish on Crypto in the Next 3 Months
Jacob Pouncey

Much of the Positive Outlook is Based on Institutional Investors Entering the Crypto Space

Many professional financial legacy gurus expect the easy credit market to dry up a bit in the coming months as a hedge against inflation. This could mean traditional equities are less attractive, and the search for “uncorrelated assets” begins.

These are “assets that lie outside the reach of the traditional financial system in which cryptocurrencies are a potential alternative,” Mr. Pouncey insists. “Historically, many of the blue chip cryptocurrencies have seen price increases in the face of global uncertainty and [… the] inflow of institutional capital to the cryptocurrency market due to the increase in regulation and investor protection could lead cryptocurrencies to a positive quarter.”

Do you believe institutional investors are going to enter the crypto market soon? Let us know in the comments section below.


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Antpool Begins Burning BCH Network Fees Increasing Digital Scarcity

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Antpool Begins Burning BCH Network Fees Increasing Digital Scarcity

On Friday, April 20th the mining operation Antpool explained that the public may have recently noticed a fraction of bitcoin cash being sent to an unspendable address every time Antpool mines a block. Antpool says that it is burning the funds sent to the “black hole address” voluntarily for the good of the BCH economy.

Also Read: Indian Exchange Takes Central Bank to Court Over Bank Ban

Mining Operation Antpool Burns 12% of BCH Network Fees Found in Mined Blocks

Antpool is one of the oldest mining pools in the cryptocurrency ecosystem and is operated by the company Bitmain Technologies. Just recently it was discovered that the mining pool was sending bitcoin cash (BCH) to an unspendable address utilizing a process known as “burning.” Burning means the coins sent to the address can never be spent again and some people believe this process increases digital scarcity. Antpool states this Friday that BCH is nearing a “tipping point of becoming a widely used public blockchain,” and the decentralized currency has a “wave of innovation” forthcoming.

Antpool Begins Burning BCH Network Fees Increasing Digital Scarcity
“Antpool has recently begun burning BCH by sending mining fees to a black hole address with each block mined,” the mining operation states on Friday, April 20, 2018.

The mining pool mentions the latest Memo application and the many other platforms being built on the BCH chain. Further, the organization mentions the upcoming hard fork taking place on May 15 which aims to increase the block size to 32MB. Additionally, Antpool says that “more and more useful applications will be enabled on BCH” because of the enlarged OP_RETURN spaces, and re-enabled OP_codes. Antpool explains that it understands that BCH will be a cryptocurrency that will be widely used and spent but holding investors are also critical to the economy.          

“Some bitcoin cash investors may have noticed that Antpool has recently begun burning BCH by sending mining fees to a black hole address with each block mined — Twelve percent of the transaction fees earned by the mining pool are burnt — This is voluntary and we want to explain why this burning might be good for BCH as a whole,” Antpool states. “While having active users spending BCH is very important for the ecosystem, having investors who hold BCH is also a fundamental requirement for maintaining a strong economy — Without these holders, BCH’s exchange value loses significant support.

We believe that they too should profit from the growth of BCH by their continued stake in the Bitcoin Cash ecosystem — The transaction fees earned by miners are an important growth indicator of the BCH ecosystem, and if a portion of the fees are burnt, it is effectively miners sharing revenue with the entire BCH network.

Antpool Denounces Maximalism and Asks Other Mining Pools to Join the Burning Sessions

Antpool also details that the BCH ecosystem and community needs to keep its current passion going. The burning announcement also denounces cryptocurrency ‘maximalism’ and says that type of idealism is “dangerous” thinking. This is because Antpool believes the community benefits from the advancement of application tokens which will bring forth an arrangement that pushes the growth of an “on-chain transaction explosion.” Furthermore, Antpool is asking for other mining pools to join in on the bitcoin cash burning session.  

“We call for other miners to join us in burning 12% of the transaction fees collected,” the pool concludes.

What do you think about Antpool sending 12% of its mined BCH fees to an unspendable black hole address? Let us know what you think about this subject in the comments below.


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Revealer Card Visually Encrypts a Cryptocurrency Seed Phrase

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Revealer Card Visually Encrypts a Cryptocurrency Seed Phrase

A new startup called Revealer is on a mission to create sound backup solutions for cryptocurrency mnemonic phrases and seeds. Just recently the company launched its first product dubbed ‘Revealer Zero’ – a small card system that visually encrypts and decrypts digital currency seed phrases or any alpha-numerical secret.

Also read: German Cops Look Hard at Antics of ICO Savedroid After Ghost Prank

Revealer Zero Visually Encrypts a Cryptocurrency Seed Phrase

Revealer Zero is a new product created by Tiago Romagnani Silveira that allows users to print and store cryptocurrency backups in a visually encrypted manner. The secret can be decrypted optically “without a computer or any special knowledge,” explains the company. Basically, each Revealer has a unique code with 128 bits of entropy encoded in hex format, while the last three digits represent a checksum. Entropy is the ‘randomness’ found in a computer’s operating system which is utilized in many types of computational cryptography like creating public and private key pairs.    

“The version number indicates the dimension of the revealer, the 128 bits of entropy are used as random seed to generate the noise that is encoded on the card — The checksum offers some protection against a typing mistake,” explains the company’s website.

Revealer Card Visually Encrypts a Cryptocurrency Seed Phrase

Decrypt the Secrets Without a Computer

Essentially the product offers a deep cold, two factor backup for any random alpha-numerical secret or cryptocurrency seed. Revealer is a one-time pad that offers 128 bits of entropy that’s based on a cryptographic scheme developed by the well-known cryptographers Moni Shamir and Adi Naor. The user simply uses the platform’s encryption dialogue box to encrypt a cryptocurrency seed with the ‘randomness’ derived from the host computer. Then the program visually obfuscates the secret with cryptographic scheme called ‘noise’ which can then be printed. The seed or special secret can be decrypted with the Revealer card and the protocol will also be able to be used with an Electrum Wallet plugin.

Revealer Card Visually Encrypts a Cryptocurrency Seed Phrase

Revealer says ‘aezeeds’ and ‘BIP 39 seeds’ that use more words, do fit on the cards, but font size is smaller and the software will adjust for character length. The product is a one-time solution meant to be used only once for the most optimal security, but the product does ship with two cards. The Revealer Zero encryption card sets costs €19.90 and the startup’s shop accepts BTC for payments.

Revealer Card Visually Encrypts a Cryptocurrency Seed Phrase

Raw Noise

The company also says that the firm’s product allows the user to encode the cards and the startup has virtually no access to the cryptographic paired secrets. In the frequently asked questions section, a question states: “But why should I trust you?”

“You shouldn’t, please don’t — Even if we were malicious, or compromised, we don’t know your secrets,” Revealer emphasizes.  

We send you raw noise, encoded in a card. You generate your secret and encrypt it for the card on your own computer. Ultimately you add noise to your otherwise exposed backup with a Revealer.         

Revealer Zero is an interesting concept for those looking to secure their cryptocurrency-based mnemonic phrases. News.Bitcoin.com also recently reported on another product called Safewords; a distributed backup system that secures digital asset seeds in a unique fashion.

What do you think about the Revealer Zero product? Let us know what you think in the comments below.

Disclaimer: Bitcoin.com does not endorse this new product/service. Readers should do their own due diligence before taking any actions related to the mentioned company or any of its affiliates or services. Bitcoin.com and the author are not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


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Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

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Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

The cryptocurrency markets have enjoyed a strong week, with BTC, BCH, and many altcoins generating significant gains in recent days. There is considerable uniformity shared among major altcoin markets, with many cryptocurrencies recovering to test the 0.236% retracement areas after breaking above descending trendlines.

Also Read: Kraken CEO Condemns “Hostile” Questionnaire Issued by New York AG

BCH Gains Over BTC

Whilst bitcoin (BTC) has made gains of 10%, this past week has seen Bitcoin Cash (BCH) perform with considerable strength, ramping up to gain nearly 50% against the dollar in just 7 days. Yesterday, the markets surged past resistance at $1,000 USD, breaking into the four-figure threshold for the first time since March. As of this writing, BCH appears to be consolidating above $1,000, with current prices sitting at roughly $1,080.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

When measuring against BTC, BCH has gained 40% in a week – bouncing from a low of approximately 0.092 BTC to the current levels of roughly 0.13 BTC. When measuring from 2018’s high of 0.25BTC, BCH is currently consolidating at the 23.6% retracement area. Bitcoin Cash is currently the fourth largest cryptocurrency by market capitalization, with a total capitalization of approximately $18.5 billion according to Coinmarketcap.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

Altcoin Markets Begin to Reverse During April

After months of sustained downward price action that saw many markets lose upwards of 80% – 85%, many altcoins have produced substantial gains over the course of recent weeks after breaking above major descending trend lines against both BTC and the dollar. Many markets are now testing their respective 0.236% retracement areas when measuring from 2018’s highs.

The second largest crypto by market cap, Ethereum, has made gains of approximately 60% over the last fortnight, rallying from the local low of approximately $370 USD during early April to test the $600 area in recent days. After a strong initial bounce, ETH has made consistent gains over the past week, gaining approximately 20% in the last 7 days.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

When analyzing the ETH/BTC charts, we can see that ETH has gained roughly 28% from April’s lows of approximately 0.054. As of this writing, ETH is testing the 0.236% retracement area of approximately 0.069 BTC and boasts a market capitalization of $59 billion.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

Ripple Among Top Gaining Markets

Ripple is currently the third largest cryptocurrency with a market capitalization of $33.25 billion. In the last two weeks, XRP has made significant gains of over 80%, rallying from a low of $0.45 to test resistance at the approximately $0.90 area. As of this writing, the price of XRP is roughly $0.86.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

When measuring against BTC, XRP has bounced by approximately 40% since it’s April low of approximately 0.00007 BTC. As of this writing, XRP is consolidating just below the 0.236% retracement area of 0.0001, when measuring from Ripple’s early 2018 record highs.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

Top Ten Crypto Markets Produce Significant Gains

Coinmarketcap’s list of the top ten cryptocurrency markets by capitalization has remained fairly steady during April, with all leading altcoins markets posting substantial gains.

EOS and Litecoin have been vying for the position of the fifth largest crypto market, with EOS leading with a nearly $9 billion market capitalization as of this writing. EOS has gained almost 90% in just two weeks, quickly surging from below $6 to the current price levels of $11.15. When priced against BTC, EOS has gained over 45% in the last fortnight, with current prices at around 0.0012676 BTC, and is currently testing a key resistance area.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

Litecoin is currently the sixth largest crypto market with a total capitalization roughly $8.4 billion. In the preceding fortnight, LTC has gained over 30%, bouncing from $115 to $150. Measuring against bitcoin, LTC has made modest gains of roughly 10% from it’s April low. As of this writing, the price of LTC is approximately 0.017 BTC. LTC is the least correlated of the major altcoin markets, having spent the majority of 2018 channeling within a 30% when paired against BTC.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

Cardano, Stellar, and IOTA Double During April

The price of Cardano has nearly doubled during April, with the ADA markets rallying from a low of $0.145 two weeks ago to now be testing resistance at $0.285. ADA has gained roughly 47.5% over BTC in the last fortnight, bouncing from roughly 0.00002200 BTC to the current prices of 0.00003250 BTC. Cardano is currently the seventh largest crypto market, boasting a market capitalization of $7.4 billion.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

Stellar has also nearly doubled during April, surging from a low of $0.19 to test current levels at $0.37. When paired against bitcoin, Stellar has gained roughly 46.25% in two weeks, bouncing from 0.00002900 BTC to 0.00004250 BTC. Stellar is the eighth largest crypto market with a capitalization of $6.91 billion. Stellar rallied as high as the 0.618% retracement when measuring against BTC, and is now consolidating at the 0.5% retracement area.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

IOTA is currently the ninth largest crypto market with a capitalization of $5.25 billion. IOTA has doubled in two weeks, bouncing from $0.095 to the current levels price are of $1.89. IOTA has gained 49% over BTC in the last fortnight.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

NEO has gained 60% in two weeks, bouncing from roughly $46 to $74. Against BTC, NEO has gained 25%, rallying from 0.000675 to 0.000847. NEO is the tenth largest crypto market with a capitalization of $4.8 billion.

Markets Update: Altcoins Rally During Week of Bullish Action for Crypto

Altcoins Are Back?

Markets Update: Altcoins Rally During Week of Bullish Action for CryptoAlthough the cryptocurrency markets have produced impressive performance during April, whether or not the markets can sustain the bullish momentum in the medium term remains to be seen.

With so many altcoin markets breaking above descending triangles and rallying to test the 0.236% fibonacci retracement areas, many analysts are waiting for the markets to pull back and produce a higher low on larger time frame charts before proclaiming that the first altcoin season of 2018 is indeed kicking off.

Do you that the altcoin markets will continue to rally in the coming weeks, or are altcoins just experiencing a dead cat bounce? Share your thoughts in the comments section below!


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PR: Green Energy Crypto Credits.Energy ICO Is Now Live

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Green Energy Crypto Credits.Energy ICO Is Now Live

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Credits.Energy, the “crypto with a mobile mining app that supports green energy,” aims to virtually eliminate the cost of supporting renewable energy. We asked Credits.Energy COO, Jared Wells, to explain what the current barri-ers to entry are in the renewable energy market:

“Mainstream adoption of solar and wind power is all about efficiency. Obviously, if I put a solar panel on my house, I need batteries to harness that power overnight, charge controllers to manage wattage and voltage, and a way to integrate that energy into the power system. These same basic components are required whether you have 1 panel or 400 panels . . . 1 turbine or 50 turbines. . . . So while the overall cost per watt in the solar and wind power har-nessing platform decreases incrementally by increasing the number of generation components involved in the sys-tem, it is inversely more expensive per unit of electricity to implement the smaller scale systems that can be afford-ed by an individual homeowner. In addition to that, there are so many people who live in leased or rented housing and are unable to attach solar panels or wind generators to their residences or who maybe just can’t afford to have their own system.”

Credits.Energy intends to resolve this problem by allowing for simple purchasing and management of the CRED cryp-tocurrency token through their intuitive website and mobile applications. CRED provides a way for the average per-son to support renewable energy in fairly priced increments that change in value proportionally, whether you’ve purchased 100 or 1 million. Here’s how it works: participants can download the Android App, the iOS app (released 04/16/18) or visit the website to purchase CRED using PayPal, Bitcoin, or Ethereum. Funds raised through the sale of CRED are then used to invest in projects that harness the earth’s renewable energy sources such as solar farms, wind farms, and renewable agricultural projects. Proceeds from those projects are then used to purchase CRED from exchanges to be “burned,” which removes those tokens from circulation forever. This should cause the Total Market Value of CRED to disperse among an ever-decreasing token supply, thereby raising the value of all remaining tokens by the percentage of the value of those that were burned.

Mr. Wells explained it this way: “Many of the other projects currently being developed in the cryptocurrency ener-gy sector rely on users to create and manage the power creation, which their platform then tokenizes and markets. Similarly, the comparable micropayment token providers rely on mass adoption of their token to increase the sen-timental value of the tokens, a portion of which the companies then liquidate to pay for ongoing business expenses. Both of these approaches place the “burden” of value creation on the token users. This approach not only drains liquidity from the market, but provides little incentive for team members to continue backing a project after it stabi-lizes. The value of CRED, however, will be supported directly through the investment, establishment, operation, and research of solar and wind power generation and sustainable agricultural projects. Only 5% of our total token sup-ply will be retained for use to develop infrastructure, research and development, and operations costs. We feel that this is more than adequate, as our goal is to be paying all ongoing corporate expenses and performing quarterly coin burns within 4 months after our first solar farm is completed.”

We hear about research and development often in the cryptocurrency space but almost exclusively wherein it re-lates to blockchain technology. The Credits.Energy team is looking at it much differently, however. As one of their recent investors noted, “Technological improvements in the coal, oil, and gas industries can only serve to increase the amount of energy derived from a measured unit of that natural resource, yet only finite amounts of those re-sources are available on the planet. When using green energy on the other hand, technological advancements not only allow people to derive more energy from the same measurement of source products, but they also allow us to capture more of that source which, no matter how much we use, will be here long after our children’s children pass away.” They’ll be working with industry leaders like the US Department of Energy’s National Renewable Energy La-boratories to employ the latest technologies in their perpetual upgrade program. This, partnered with the continual reinvestment and expansion policy they’ve adopted, dramatically increases their future growth possibilities, thus the strength of the token value.

Renewable energy is really just one facet of the Credits.Energy project though. The team believes that the peer-to-peer micro-payment capabilities of their web and app-based wallets will help the “unbanked” in less developed nations enter the newly-formed “even playing field” cryptocurrency has introduced to the financial world. By utiliz-ing the mobile miner, people will be able to mine CRED from their phone and exchange those tokens for other cryp-tocurrencies or fiat when needed. This ease of use, combined with the anonymity of the CryptoNight algorithm that keeps hackers from tracking your purchases and expenditures on the blockchain, gives users unprecedented value, control, and peace of mind. Credits.Energy has truly developed a way for people to support each other while pro-tecting our precious planet—and this individuality and forethought clearly stands out as a winner in a sea of other-wise lackluster offerings.

To get 100 free CRED, join our Telegram Airdrop that kicked off first thing Thursday morning. Proceed to https://t.me/cred_cx to join the airdrop.

Contact Email Address
cx@credits.energy
Supporting Link
https://credits.energy

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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