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IOTA Partnership With The Austrian Federal Ministry To Promote DLT & IoT

Mark Brennan
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IOTA Partnership With The Austrian Federal Ministry To Promote DLT & IoT

In cooperation with Pantos and the Austrian Federal Ministry, IOTA aims to promote blockchain and DLT interoperability under the umbrella of a new research laboratory.

With this, IOTA is signaling that IoT is still one of its main focuses, while its full protocol update is getting closer.

IOTA supports blockchain and IoT development.
In a press release published on November 26, 2020, the Bitpanda-supported Pantos and IOTA project in collaboration with the Austrian Federal Ministry for Digital and Economic Affairs unveiled the new Christian Doppler Laboratory for Blockchain Technologies for the Internet of Things (CDL-BOT) .

The new Christian Doppler Laboratory was officially opened on Thursday, November 26th in Vienna with Prof. Stefan Schulte as head. Schulte himself is from the Institute for Information Systems Engineering at the TU Vienna.

The new lab will reportedly focus on research activities at the intersection of blockchain and IoT technology. The facility’s researchers will seek ways to achieve robust and efficient interoperability between distributed ledger technology (DLT) protocols and IoT applications.

IoT remains a focus as full protocol update approaches.
Both blockchain and IoT technology are considered to be some of the more important emerging technologies. They are supposed to drive the realization of the fourth industrial revolution. As part of several innovative endeavors, scientists are trying to transform the world into a fully realized digital space with the help of protocols such as big data and machine learning.

According to IOTA’s blog post, the co-founder and co-chairman of the board of the IOTA Foundation, Dominik Schiener, commented on the latest development. Part of Schiener’s statement reads:

Together with the world’s leading academic institution Vienna University of Technology and Pantos as a cutting-edge technology provider, we will concentrate on the interoperable transfer of digital assets and the trustworthy Internet of Things, while at the same time expanding our presence, especially in Austria.

In October, the DLT project announced the final alpha version of the IOTA streams, which is being developed to facilitate seamless data transmission for the IoT ecosystem.

The IOTA Foundation continues to develop the basics for her transition from Coordinator to Koordicide. This step aims to completely decentralize the network. According to an update in November, IOTA announced that their Chrysalis Phase 2 is seeing steady development progress. An earlier November update noted progress reports in areas such as the implementation of the pollen testnet.

Apart from IOTA 2.0, IOTA has also been introduced in several industries and countries. In October, IOTA’s Tangle technology was adopted by three researchers from Taiwan’s National Kaohsiung University to develop an improved version of BitTorrent.

Bitcoin Price At 180,000 USD-Top Bloomberg Analyst With BTC Forecast For 2021

Mark Brennan
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Bitcoin Price At 180,000 USD-Top Bloomberg Analyst With BTC Forecast For 2021

The most recent increases in the Bitcoin price have led to one question in particular. What happens if the all-time high is exceeded?. At this point there is widespread speculation and interpretation about BTC all time high. While some say that it ends at USD 50,000, some voices consider a Bitcoin rate of 150,000 – 300,000 Dollars.

One of those voices comes from top Bloomberg senior analyst Mike McGlone, who typically focuses on commodities trading.

Bitcoin price at 180,000 USD according to Bloomberg Analyst. 
Is the Bitcoin price able to reach six-digit price targets?. The answer, according to Mike McGlone, is definitely yes.

In an interview with Bloomberg TV, the senior analyst spoke about the historical Bitcoin performance, which he uses as the basis for a future forecast of the Bitcoin price.

$ 20,000 is a some resistance in short term. I’m afraid Bitcoin will do exactly what gold did. It reached $ 2,000 and then consolidated despite a bull market.

But despite worries that BTC will go sideways before it hits its all-time high, McGlone sees better chances for a new all-time high in 2021. He further Said:

The thing is this, Bitcoin just added a “1” to the price this year. At the beginning of the year, Bitcoin was at $ 7,000. Next year it could well be that a “0” will be added at the end.

Accordingly, the analyst estimates that the Bitcoin price can achieve a price growth of a factor of 10x from today’s perspective.

Bullrun 2020 cannot be compared with the all-time high from 2017
In the interview, McGlone mentions other key factors that make BTC so unique as a cryptocurrency. For the analyst, it is not only about descriptive properties such as scarcity but also about financial properties.

In his opinion, a good point is falling volatility compared to the stock markets. In other words, Bitcoin volatility is slowly approaching the stock markets, which makes the asset more stable.

Bitcoin becomes digital gold. A key factor is the falling 180 days of volatility against gold. The volatility of all other high-risk assets has increased while that of BTC is decreasing.

The analyst also talks about the reasons for the current bull markets and sees a development in the entire market. The bull run of the Bitcoin in 2017 was largely based on FOMO. The mass of private investors discovered BTC for the first time and invested.

The current increase, is brought by investors from Wall Street. McGlone even speaks of a “Wall Street FOMO” that will make BTC price sky rocket.

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Ethereum 2.0 Is Launching On Dec 1-What Will Be The Changes To Ethereum Network?

Mark Brennan
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Ethereum 2.0 Is Launching On Dec 1-What Will Be The Changes To Ethereum Network?

The number two cryptocurrency, Ethereum (ETH), is about to be upgraded to Ethereum 2.0. The question is what Ethereum 2.0 is going to change for Ethereum? We have listed the most important changes below.

It is a long-term plan to enhance the security, programmability, and scalability of the Ethereum network, without any effects on decentralization. Under what Vitalik Butirin calls a “rollup-centric Ethereum,” Ethereum will soon be capable to perform around 3,000 transactions per second with just rollups, without Eth2, and up to 100,000 transactions per second once Ethereum 2.0 enters Phase 1, using sharding.

Improve Scalability
Ethereum gas fees increases very high, when the blockchain is used by many users, sometimes exceeding 450 Gwei, it is clear that improvements in scalability are needed. The upcoming enhancements will not only significantly lower the barrier to entry into the  unaffordable smart contracts, but will also provide a whole new set of opportunities for developers to combine Ethereum’s composable “money legos” in ways that were previously impossible.

Improve security
Another important feature of Ethereum 2.0 is the enhanced security. Proof of Stake gives separate security guarantees than Proof of Work. For example, if someone has the resources to perform a 51% attack on a PoW network, they can perform these attacks continuously even after performing soft forks. Under PoS, validators are not only rewarded for dealing fairly, but also punished for attempting to defraud the network.

One of those punishments in Eth2 is called a “slashing”. Slashing occurs when a validator is caught doing destructive actions. When this happens, the validator is forced to leave, confiscating some or all of his financial commitment. The outcome is that an attacker cannot hit the chain without bearing a loss.

In addition, the Ethereum Foundation is building a dedicated security team for Ethereum 2.0 to ensure the robustness and security of the upcoming upgrade. This security effort is a addition to the special Eth2 audit by Least Authority and many others.

More decentralized
Not only will it be more difficult to attack the network thanks to deterrent measures such as slashing, but the network will also have the potential to become more decentralized. While most PoS chains have a small number of validators, Ethereum 2.0 is activated with at least 16,384 validators staking their Ether. Additionally, PoW mining pools exist mainly to make the revenue streams more consistent, but since this isn’t an issue under PoS, we’re less likely to end up with a handful of pools controlling most of the network.

With this update, Eth2 clients will ensure that the full benefits of Ethereum can be enjoyed on a wide range of devices, including devices such as older cell phones, not high-performing PCs or smartphones.

Let us know your view in comments.

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Ripple price slump by 30% – CEO still sees interest from institutional investors

Mark Brennan
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Ripple price slump by 30% – CEO still sees interest from institutional investors

Just in time for Black Friday, the prices of cryptocurrencies went south. Ripple couldn’t save itself from that either with its native cryptocurrency XRP fell by more than 25%. Was that just a necessary correction or is XRP still going downhill? Institutional investors may be waiting to get into XRP

Correction catches Ripple (XRP)
There was finally a correction that many had been expecting for weeks. The Bitcoin price plummeted by around USD 3,000 and tore all Altcoins to the ground.

This is because of high dependency of altcoin prices on the Bitcoin. As a rule, altcoins suffer far more than Bitcoin itself. This to applies to XRP. But one must not forget that the Ripple price has increased significantly in the last few weeks and recorded an increase of around 150%.

Institutional interest In XRP?
Ripple and XRP have come back to life after a long dry spell and Brad Garlinghouse, Chief Executive Officer of Ripple, sees the opportunity for XRP. According to him, the increasing interest of institutional investors could also affect XRP. But mainly he speaks of the fundamental interest of institutional investors in cryptocurrencies.

In a series of tweets, Garlinghouse said that the rising interest of institutional investors in Bitcoin is primarily its nature as a store of value. Bitcoin is, according to him, an “extremely useful inflation hedge”.

The CEO of Ripple of course took advantage of the opportunity to point out the properties of XRP. He highlighted the fast and inexpensive transactions of XRP.

 

Institutional investors focus on Bitcoin
All projects hope for money from institutional investors. But not everyone gets a piece of cake. This is what it looked like with XRP. Probably the biggest news of the last few months was Bitcoin integration with PayPal.

PayPal has integrated 4 crypto currencies and completely left out XRP. It is not possible to say exactly what the reasons were. It could have something to do with the legal uncertainty surrounding XRP in the US.

But not much came from Grayscale and Co. in terms of XRP in the last few weeks. The situation is similar for listed companies such as MicroStrategy and Square. They only invested in Bitcoin. The interest in XRP is currently limited.

Therefore, there is currently no need to hope for increasing interest in Ripple and XRP from institutional investors.

Ripple still owns 55% of all XRP
Of course, the direction in which the XRP price will move cannot be precisely predicted. The dependency on the Bitcoin rate is very high. However, the surge in XRP in the past few days may have created momentum that could result in another positive move.

Few beginners to Ripple know that Ripple’s main source of income is the sale of its own XRP tokens.

When XRP was created Ripple got 80% of all XRP tokens back then and still holds around 55%. Hence, investors can expect the company to continue to throw their XRP into the market over the next several decades. Although this happens in small tranches, but still creates a large selling pressure.

Bitcoin is Recovering Above USD 17,000, Ripple Back Above USD 0.50, Ethereum Above USD 500-Price Analysis

Albert Brown
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Bitcoin is Recovering Above USD 17,000, Ripple Back Above USD 0.50, Ethereum Above USD 500-Price Analysis

Bitcoin price started a major downside correction below the USD 18,000 level. BTC fell more than 10% and went down till USD 16000. Finally, the bulls were able to protect the USD 16,500 support level and the price is currently recovering above USD 17,000.

There was also a sharp drop in most of the major altcoins, including Ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, Bitcoin cash and ADA.

ETH / USD broke many key supports near USD 580 and USD 550, and it even spiked below USD 500. XRP / USD declined nearly 30% before finding support near the USD 0.475 level.

Bitcoin Price
After a close below the USD 18,000 level, Bitcoin price accelerated its decline. BTC traded below the USD 17,500 and USD 17,000 support levels. Finally, it found supports near USD 16,500 and USD 16,350. The price is recovering and trading above USD 17,000. On the upside, the first major resistance is at USD 17,650, above which the price could test USD 18,000.

An initial support on the downside is near the USD 17,000 level. A close below the USD 17,000 level could potentially push the price back towards the USD 16,500 level.

Ethereum Price
Ethereum price declined more than USD 100 and it broke the USD 500 support level. ETH found support near the USD 485 zone and rebounded above USD 500. However, the price is struggling to recover above the USD 525 and USD 530 levels.

If it continues to struggle near USD 530, there could be another bearish reaction. An initial support is near the USD 500 level, below which the price could revisit the USD 485 support level.

Bitcoin cash, Litecoin, and XRP price
Bitcoin cash price is down 18% and it is now trading below the USD 300 and USD 288 levels. BCH could continue to decline towards the USD 270 support level. Even more losses below USD 270 could trigger a sharp decline towards the USD 250 support zone.

Litecoin (LTC) declined sharply below the USD 82.00 and USD 80.00 support levels. LTC traded close to $ 70.00 before correcting higher. The price is testing the USD 75.00 level and it could recover further towards the USD 76.50 and USD 78.00 levels. The main resistance is now forming near the USD 80.00 level.

XRP price dipped below the USD 0.600 support level. The bears strengthened and the price even spiked below the USD 0.520 support. The price tested the USD 0.475 support and rebounded above USD 0.520. On the upside, the bulls could face a strong challenge near the USD 0.555 and USD 0.565 levels.

In short, Bitcoin price corrected sharply below USD 18,000 and USD 17,500. BTC still has some medium-term uptrend supports on USD 16,500 and USD 15,000. On the upside, the bulls may struggle to surpass USD 17,800 and USD 18,000.

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Robert Kiyosaki Author Of  “Rich Dad Poor Dad” Believes in Bitcoin To Moon

Albert Brown
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Robert Kiyosaki Author Of  “Rich Dad Poor Dad” Believes in Bitcoin To Moon

Robert Kiyosaki is one of the most successful authors of financial books with his top rated book “Rich Dad Poor Dad”.

Yesterday, Thursday, Kiyosaki posted some thoughts on Bitcoin, Gold, and silver. In it, the author of bestselling book describes his opinion on the future price of the Bitcoin. Kiyosaki also speaks about the topic of inflation protection.

“Rich Dad Poor Dad” by Robert Kiyosaki is a non-fiction book that is still one of the 10 best-selling financial books of all time.

Above all, Rich Dad Poor Dad shows the reader how important financial education is. True to the motto “Become the master of your finances”, Kiyosaki sensitizes the reader to the right way of saving and investing.

At the same time, the author has been commenting on current events in the financial markets in recent months. Concerning Covid-19 and the associated monetary policy measures, Kiyosaki repeatedly pleaded for inflation-proof currencies.

In addition to gold, the focus here is primarily on Bitcoin. In a recent interview with Anthony Pompliano, the author spoke about ways to protect and invest in high valued assets.

Gold and silver are God’s money. Bitcoin is people’s open-source money.

Bitcoin to the Moon: Robert Kiyosaki
On, Thursday, Kiyosaki revealed to its 1.4 million followers on Twitter in a concise way where the Bitcoin journey was going.

 

It is clear that Kiyosaki is using the crypto coin king Bitcoin in addition to Silver and Gold. Starting with Bitcoin and simply writing “Bitcoin To Moon” means a lot.

Two weeks ago, Kiyosaki recommended buying Bitcoin and Gold. Assuming that we will see a strong devaluation of the US dollar, in the opinion of Kiyosaki it is important how much Bitcoins you own in the end.

“Bitcoin beats gold and silver. The dollar is dying. When it comes to a crash, it’s not the price that matters, but how much Gold and BTC you own”. He said.

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Bitcoin Crash: Value Drops $ 3,000 in Hours, What’s Happening?

Mark Brennan
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Yesterday, Bitcoin seemed to hit almost its all-time high, but it went downhill. The cryptocurrency fell by more than 14 percent and found a low at $ 16400. What is going on?

Whales Dump Bitcoin on Exchanges
The price decline came after major Bitcoin investors (whales) sent their coins to cryptocurrency exchanges. This is evident from an indicator from the analysis agency CryptoQuant. Ki-Young Ju is CEO of CryptoQuant:

“The average inflow of Bitcoins on exchanges rose a few hours ago. That means that whales sold their Bitcoins on the exchanges. “

Still, Ki-Young Ju remains positive:

“Long-term indicators show that buying pressure continues to hold. I still believe we can break $ 20,000 in the next few days. “

 

Market Needs Cooling
Another explanation is that the market needs some cooling. From the beginning of October to the peak in November, the BTC price rose by more than 87 percent. The market became euphoric, the highest Bitcoin price ever came very close.

Btc Fear & Greed Indicator

Alternative’s Fear & Greed Indicator is an index that shows the sentiment in the market. At the moment there is extreme greed. Such high values ​​of greed are rare. Before we start to see a new price increase, a correction is therefore important. That cools the sentiment a bit, giving Bitcoin the room to push through to the all-time high.

Bitcoin Out of Rising Trend
Can the price drop further? That is quite possible. Bitcoin has been in a parabolic upward trend since early September. Last night Bitcoin broke out of this trend. The support of USD 18,000 also turned out to be unsustainable, so we can expect even lower prices.

More Detailed Analysis is Coming Soon.

BTC Forms Double Top and Falls to $ 17,200-A 14% crash-What’s Next For BTC?

Albert Brown
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BTC Forms Double Top and Falls to $ 17,200-A 14% crash-What’s Next For BTC?

Bitcoin fell to $ 17,200 on Binance Exchange as buying pressure finally eased after weeks of upward price action. Bitcoin corrected from the $ 19,600 to $ 17200, down about 14%.

Analysts are currently divided over what comes next for the leading cryptocurrency.

Bitcoin began to roll over after it surpassed the $ 19,600 mark yesterday. At the same time, analysts noted that the cryptocurrency began to print bearish technical signals near the highs, which suggested that it was overbought. 

Bitcoin Extremely Overbought

Mohit Sorout, a founding partner at Bitazu Capital, shared the chart shown below on the day Bitcoin crossed over $ 19,000.

The chart shows the price action of BTC relative to the Pi Cycle indicator

The chart shows the price action of BTC relative to the Pi Cycle indicator. The indicator is a formula that accurately predicted BTC’s mid-term highs in the past, including the mid-2019 high, as well as a series of highs in 2016 and 2017.

If history repeats itself, there is a good chance that Bitcoin will correct back to the lower boundary of the indicator and then retrace higher to break the upper boundary of the indicator. 

Alex Fiskum, a partner at Alice Capital, shared a similar bearish chart. The chart shows that the current market sentiment and positioning of Bitcoin look extremely similar to the 2019 highs and all-time highs were seen in 2017. 

Bitcoin price forms a double Top

 A double top pattern was formed near the $ 19,500 level and the price of Bitcoin dropped sharply below the $ 19,000 support.

A double top pattern was formed near the $ 19,500 level and the price of Bitcoin dropped sharply below the $ 19,000 support.

The price dipped below many of the keys supports around $ 19,000 and the 100-hour SMA. 

The hourly chart of the BTC / USD pair also broke below the major bullish trend line with support around $ 19,000. 

Bitcoin broke the last swing low at $ 18,656 and continued its decline below the $ 18,500 level. 

Bears pushed the price below the 1.236 Fibonacci extensions of the uptrend from a swing low of $ 18.656 to a swing high of $ 19.511.

The price further dropped and reached USD 17200 levels. If the price is unable to maintain 17000 psychological support, we may find support around $ 15800 to 16200 levels.

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Crypto.com Manages To Obtain Approval From The Financial Services Authority in Malta

Jakkk
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Crypto.com Manages To Obtain Approval From The Financial Services Authority in Malta

The well-known cryptocurrency exchange, Crypto.com, announced yesterday that it has received approval from the Financial Services Authority in Malta (MFSA). The company has obtained a Financial Institutions License along with a Class 3 Virtual Financial Assets (VFA) license.

Malta passed cryptocurrency laws in 2018 to regulate the market and since then the European country has developed a clear framework for  to operate under MFSA. According to the official announcement, the company will become one of the first crypto platforms in the world to receive such regulatory approvals in Maltese jurisdiction.

The Financial Institution License allows the company to provide payment services and to issue electronic money. Through a Class 3 VFA license, Crypto.com can offer order execution, custody services and account handling to experienced and inexperienced investors.

Kris Marszalek, Co-Founder and CEO of Crypto.com, said the following about the news:

“We have a long-standing commitment to building a fully regulated business in every market in which we operate. Being one of the first cryptocurrency platforms to receive approval for a Class 3 VFA and Financial Institutions license is an important milestone and we look forward to securing licenses in more markets in 2021. ”

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US Customers Have To Leave The International Binance Exchange

Jakkk
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US Customers Have To Leave The International Binance Exchange

Binance’s US business is operated separately than Binance exchange. The international platform does not support US customers.

Read: Why Ripple Price Explodes To Over 100% In Seven Days

But It’s not a problem for most US users as they can register on Binance without having to prove their identity. If you consistently use a VPN, you will also be able to open a customer account.

Two Bitcoin can be withdrawn per account per day. So a good 38000 USD available withdraw limit, if you use the current BTC rate.

You can also make multiple accounts by using different e-mail addresses, as their is no mandatory KYC.

This gap could only be closed if Binance were to ask its customers for a mandatory proof of identity procedure.

Now media reports are piling up that the exchange is writing to customers who are classified as US users and asking them to leave the international Binance exchange within 14 days.

Forbes Poured Fuel On The Fire

An article from Forbes caused quite a stir in late October. Because Forbes and its two journalists claim that Binance has deliberately fooled US regulators. But Binance denies the charges and is taking Forbes and its two employees to court in the United States.

The question now is whether the latest reports of US customers being thrown out may have been spurred by the Forbes article.

Officially, Binance has a US platform, but it doesn’t offer as much volume, crypto coins or other functions as the international parent Binance.

BitMEX Was A Warning

The founders of BitMEX also found that the US authorities and their requirements are not to be joked with. For a long time, they also indirectly made customer accounts possible for US traders because they did not close the gap with proof of identity.

The US authorities then started investigation two different charges against the founders of BitMEX.

BitMEX now requires its customers to go through a KYC procedure including ID/passport copies, images etc.

Binance follow a similar procedures of KYC, but only requires it as an option if the customer wants to increase their withdrawal limits. It remains to be seen whether Binance might run into similar difficulties as BitMEX or not.

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