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Tezos Developers Are Planning To Implement Zcash Privacy Features 

Mark Brennan
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Tezos Developers Are Planning To Implement Zcash Privacy Features 

Tezos Developers are planning a network update called Edo. The implementation of the Zcash Sapling library will allow you to hide transactions of Tezos blockchain.

According to the statement, Tezos developers Nomadic Labs, Marigold, and Meta state have submitted several proposals for Edo’s next network update. The update will bring privacy features and other improvements.

“No other major smart contract platform yet supports these features, but we can add these tools directly to the blockchain.” 

In mid-November, Tezos developers successfully activated the Delphi update, which significantly reduced fees for smart contracts. With this step, Tezos hopes to attract many Defi projects.

“We have wroked hard, on the core Tezos software and made significant improvements that we want to share with users of the network, ”  The developers said.

Edo’s first new feature will be the implementation of the Sapling library, initially developed by Electric Coin Company for the Zcash blockchain. As with Zcash, Sapling allows you to hide transactions. Tezos developers will be able to integrate this feature into their smart contracts and applications that value privacy.

The second addition to Edo will be the ticket system. According to the developers, this is a convenient mechanism for smart contracts to grant portable permissions to other smart contracts or to issue tokens. 

According to the statement, similar functionality can be achieved using existing methods, tickets should significantly simplify the process for third-party developers.

Edo also introduces the “fifth period,” which will simplify the deployment of updates in the future. It now takes about 60 seconds to launch new versions of the Protocol after voting is complete, making it difficult for some Tezos users to update their nodes smoothly. To fix this problem, Tezos developers suggested extending the update period so that users have more time to prepare.

Under the new system, instead of four periods of eight cycles during voting, we propose to use five periods of five cycles. The “fifth period” will be five cycles between the adoption of the new Protocol and the time of its launch, which, in our opinion, will help ensure a smooth transition between the protocols. The developers told.

 

Edo contains several minor bug fixes to improve performance further and reduce gas costs.

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Bitcoin Battle To Cross 20,000 USD-Touched 19,860 And Still Above 19k-Why Bitcoin Bulls Are So Strong

Albert Brown
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Bitcoin Battle To Cross 20,000 USD-Touched 19,860 And Still Above 19k-Why Bitcoin Bulls Are So Strong

Bitcoin reached a three-year high, exceeding $19,860 on most exchanges, but has not yet been able to overcome 20,000 USD.

On the evening of November 30, 2020, Bitcoin again stormed the $20,000 level, which it reached as close as possible on November 18, 2017. 

That is not the time for holders to celebrate. Reaching $19,840 – $19,870 on various exchanges, Bitcoin did not hold the bar and fell to $19,000, but then rose again. Fluctuations in prices will continue. But the bulls are unlikely to retreat, and they will start pushing the price up also.

Reasons Of Bitcoin Bull Rally

The bull rally of Bitcoin began in August after analytical firm Micro Strategy and several other companies started to invest in Bitcoin.

Quantum Economics analyst Jason Deane said that large companies that buy Bitcoins are more likely to hold them for the long term rather than selling them on the crypto exchange because of price fluctuations. 

His assumptions are confirmed by the words of MicroStrategy CEO Michael Saylor, who believes that Bitcoin is the best means to preserve values. 

In October 2020, MicroStrategy investments were followed by Square, owned by Twitter founder Jack Dorsey. Square bought 4709 BTC for $50 million, after which the rate of crypto-asset rose to $10,935. 

Later, the payment giant PayPal entered the cryptocurrency arena, announcing cryptocurrency support for American users. Perhaps the rapid rise of bitcoin was influenced by statements from large companies’ heads commenting on investments in this Bitcoin.

American billionaire Stanley Druckenmiller believes that investing in bitcoin is much more profitable than investing in gold. 

A week ago, the Director of the investment company BlackRock, Rick Rieder, also said that Bitcoin is a reliable mechanism that can replace gold. 

According to Binance Research experts, several other factors explain the growth of the Bitcoin rate. 

First of all, many investors see bitcoin as a protection against inflation. Given that governments of various countries continue to print money during the crisis and pandemic, because of which value of even the most stable fiat currencies is falling. 

It is not surprising that people are beginning to perceive Bitcoin as a protective asset. Increased regulatory control and the futures market’s development have become another factor contributing to Bitcoin’s growth.

Today’s cryptocurrency market is significantly different from what it was in 2017. Over the past three years, many companies that comply with strict regulatory requirements have obtained a license to perform brokerage activities. This has significantly simplified companies’ access to cryptocurrencies. We can say that Bitcoin is in uncharted territory, and it is impossible to predict what highs lie ahead if BTC breaks the figure of $20,000.

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Ethereum Is Skyrocketing 25% Off Its Recent Drop, Looking At $ 630 As The Bulls Come Back In Action

Albert Brown
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Ethereum Is Skyrocketing 25% Off Its Recent Drop, Looking At $ 630 As The Bulls Come Back In Action

Ethereum bounces off last week’s support at $ 485 to the nearest resistance of $ 600. A break above $ 600 is expected to lift Ethereum above $ 630 and possibly send it to $ 700.

Ethereum has recovered significantly since its plunge last week towards support at $ 480. The weekend session was kind to other major cryptocurrencies as well. As Bitcoin surged above $ 18,000, Ether is trading at $ 580, showing a growing bullish momentum.

Ethereum on the verge of breaking through to $ 630

Ethereum Is Skyrocketing 25% Off Its Recent Drop, Looking At $ 630 As The Bulls Come Back In Action

All technical indices indicate that Ethereum will soar to highs above $ 600. The relative strength index has strengthened its bullish grip as it approaches the overbought area. Consistent gains from around RSI 30 levels caused an increase in buy orders.

ETH is also trading above 4H, 50 moving average. Note that the last time Ethereum went below this moving average, the loss was 11.5%.

As long as the smart contract giant stays above this key moving average, the path to gain more high ward momentum will be increased with the least resistance.

On the other hand, the gap made by 50 SMA in 4 hours above 100 SMA and 200 SMA suggests that buyers have an edge.

Trading above $ 600 is likely to encourage more buyers to join the market. If enough bullish pressure is created, Ethereum is expected to break above the $ 625 target and focus on gains above $ 700.

On the other hand, some delays can occur at $ 600 before moving more up.

There may be enough selling pressure to stop the planned breakout at $ 630. A correction from the critical level could cause Ethereum to fall back to find a haven at the 50 SMA level. Other key support levels to keep an eye on are 100 SMA at $ 520, $ 485, and 200 SMA at $ 460.

Bitcoin Bulls Keep Pushing-Why $ 18.8K is a Crucial Breakout Zone-Detailed Bitcoin Technical Analysis

Albert Brown
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Bitcoin Bulls Keep Pushing-Why $ 18.8K is a Crucial Breakout Zone-Detailed Bitcoin Technical Analysis

Bitcoin price rallied more than 4%, and it broke the $ 18,500 level against the US dollar. BTC is currently following an excellent bullish path, but the $ 18,800 level is strong resistance.

Bitcoin rallies and has broken through the critical resistance of $ 18,500.

The price is trading ar $ 18500 range and is now above the 100-hour simple moving average.

BTC/USD pair is forming a sizeable upward channel with support around $ 18,280 on the hourly chart. Bulls may face a massive resistance near the $ 18,800 zone. 

Bitcoin Price Is Approaching The Main Obstacle.

Bitcoin Bulls Keep Pushing-Why $ 18.8K is a Crucial Breakout Zone-Detailed Bitcoin Technical Analysis

In the weekly analysis, we saw a new rise in bitcoin price above the $ 18,000 level. BTC continued to rise above the $ 18,200 and $ 18,400 resistance levels.

There was also a break above the $ 18,500 resistance level. The price traded at $ 18,559 and is now above the 100-hour simple moving average. It is currently consolidating gains and is trading near the $ 18,450 level.

An initial support on the downside is near the $ 18,410 level. It is close to the 23.6% Fibonacci retracement level of the recent advance from the swing low of $ 17,950 to the high of $ 18,550. 

Moreover, on the BTC / USD pair’s hourly chart, a large upward channel is forming with support around $ 18,270. Channel support is close to the 50% Fibonacci retracement level of the recent advance from a swing low of $ 17,950 to a high of $ 18,550. On the other hand, channel resistance at $ 18,655 is short-term resistance.

The first serious resistance for the bulls lies near the $ 18,810 level. A successful break above the $ 18,810 level could trigger a strong upward move, and Bitcoin could rise above $ 19,000 and even $ 19,200.

Another drop in BTC?

If Bitcoin fails to overcome the breakout resistance at $ 18,800, there is a risk of another decline. An initial support on the downtrend is near the $ 18,250 level or the channel’s lower trendline.

A clear break below the channel support level could lead to a sustained decline to $ 18,000. The next significant support below the $ 18,000 level is near the $ 17,400 level and the 100-hour simple moving average.

Technical indicatos

The Hourly MACD is currently gaining momentum in a bullish zone. The Hourly RSI for BTC / USD is currently well above the 60 levels with bullish signs. Major Support Levels are $ 18,255 followed by $ 18,000. And Major resistance levels are $ 18,658, $ 18,810 and $ 19,000.

Are Defi And Cryptocurrency Indexes Diverse Enough? 

Mark Brennan
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Are Defi And Cryptocurrency Indexes Diverse Enough? 

Over the prior ten years, the investment model in conventional financial markets has moved to passive investment. Since the beginning of 2020, index funds have managed over $ 10 trillion.

Why use an index?

An index fund is a kind of shared fund or an exchange-traded product (ETP) designed to provide direct exposure to a financial market index’s performance. 

Many investors are attracted to these instruments because they want to outsource the complexity of active management. This is the process of selecting shares to invest in.

They also want easy access to a particular market, which in turn provides a well-diversified portfolio. Besides, index funds tend to adopt a passive investment strategy that generates lower fees than actively managed funds. 

Decentralize The Financial World

Given the usefulness and popularity of index funds in traditional finance, it is no surprise to see the emergence of these services in the crypto ecosystem. Protocols such as Index Cooperative, Synthetix, and PieDAO have built up their respective Defi indices, allowing crypto investors to be easily exposed to the Defi sector without being a Defi expert.

Since the crypto ecosystem copies every conceivable financial product in traditional finance to crypto networks, you will also find tokens that function as indices for Defi assets. 

Risk of Excessive Concentration

Despite the advantages of index funds in traditional markets, there are also disadvantages, such as concentration risks. For example, in recent months, the S&P 500 Index has been more dependent on the top five technology shares Apple, Microsoft, Amazon, Facebook, and Google than during the dot-com bubble. The same can be said for the broadest Defi index of crypto.

The Defi Pulse Index (DPI) is a market capitalization-weighted index that follows the performance of Defi assets on Ethereum. The DPI is updated monthly and does not include token derivatives, synthetic assets, or tokens linked to physical assets.

The S & P 500 Index contains the prices of 500 companies. So many different Defi tokens are not there. Also, many Defi tokens must come and go. As a result, DPI also has concentration risks. Currently, 30% of the Defi Pulse Index consists of only two assets: UNI & AAVE.

Also, 77% of the DPI’s total risk is determined by only four tokens: UNI, YFI, SNX, and AAVE. As a result, the yield of the index is extremely sensitive to these four assets’ movements. 

What risk do you want to take?

If you want to invest in a Defi or cryptocurrency index, do a good study, and only after proper research should you invest. More than ninety percent of Defi tokens are scams. So be very careful with your investment.

Bitcoin price patterns suggest a new ATH at$ 160,000, XRP price Explosion, green light for Ethereum 2.0 & iota News 

Jakkk
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Bitcoin price patterns suggest a new ATH at$ 160,000, XRP price Explosion, green light for Ethereum 2.0 & iota News 

Welcome to TheCryptoBasic weekly review. As usual, there was a lot to report this week, and it is not surprising that we offer a whole range of interesting News.

Our topics this week range from the patterns of past Bitcoin price bull runs and what they tell us about the future price potential of BTC to the XRP price Explosion, the green light for the launch of Ethereum 2.0 to the latest iota Update.

Bitcoin price patterns in previous Bull Runs suggest a Top of $ 160,000 with a correction to $ 25,000. 

The Crypto market has gained significantly in value. Many cryptocurrency enthusiasts are wondering where the Bitcoin price will peak in the next big bull run. Before and after the last three Bull Runs, there were different price peaks, and significant declines above 80% were recorded. The voices are getting louder and louder, which speaks of the fact that the next big Bull Run has already started. 

The only question most people are asking at the moment is about the new ATH and where that might lie. According to an influencer and analyst, if the Bitcoin price follows old patterns, it could be around$ 160,000. 

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Ripple price explodes-XRP rises to over 100% in 7 days.

Ripple has been able to gain in the last few days. The XRP price has increased by 70% in the previous seven days and has also reached a new record high in daily trading volume. XRP overtakes Tether again and makes it to third place by market capitalization.

The XRP price was not impressive for a long time. Only Bitcoin and many Defi token prices exploded in the past, But now the Ripple Hype peaked like in 2017. 

Read More.

Ethereum 2.0 Launch can begin the starting signal for a new era.

The Ethereum 2.0 Launch can start as planned. In the first days after the Deposit Contracts’ official start for the Beacon Chain, only a fraction of the required ETH was deposited. However, the tide has now turned, and Ethereum 2.0 can inevitably start on December 1, 2020. 

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Bitcoin in the Mass Media.

BTC lands on Page 1 of the Wall Street Journal, while for many people, the year 2020 was considered relatively modest, crypto investors could rejoice with the rising prices this year. While Bitcoin initially marched towards an all-time high, a sharp increase in most Altcoins began in the last few days.

Bitcoin remains the top dog and most prominent representative of cryptocurrencies. BTC has now once again managed to attract the attention of the mass media. The cryptocurrency landed on the main page of the Wall Street Journal.

Iota Update on Chrysalis Phase 2 And Patnership With Australian Ministry.

IOTA is progressing. The development team conveyed this message last week in a blog post published on November 19. Jakub Chech, the director of Engineering, spoke about the steps of Phase 2 in the weekly Chrysalis Update as a significant partnership with the Australian Ministry. 

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Facebook May Launch Libra in January 2021

Mark Brennan
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Facebook May Launch Libra in January 2021

In January next year, Facebook could start Libra which is Facebook cryptocurrency, the Financial Times reported today.

The Libra coin would be backed 1 to 1 by the dollar. Facebook is still waiting for the green light from the Swiss regulator Finma. In October, the G7 reported that Libra Launch was against laws until officially approved.

In addition to the crypto coin, Facebook already has its payment system. The reports tells that coronavirus puts a lot of pressure on advertising revenue and that Facebook is, therefore, looking for new revenue models.

According to the analysts, over 2020, the company’s total revenue from Menlo Park will be 83,93 billion USD. This is really higher than 2019’s revenue of 70,7 billion USD.

According to the latest round of the analysts’ survey, the company is heading for a profit per share of 9,33 USD. This brings the price/earnings ratio to 29.54.

Analysts do not expect the company to pay dividends. On average, a share in the internet companies delivers a limited dividend yield of approximately 0,32 percent.

Analyst estimates Facebook Shares around $ 325

BMO Capital Markets, Wells Fargo, and Wedbush Morgan Securities recently provided recommendations for the stock.

The company’s market capitalization is based on the current number of outstanding shares, around 657,28 billion USD. The stock was the past 12 months quite unstable. A year ago, the share was no less than 36 percent in the plus. The stock traded between $ 137 and $ 305 in the past year.

A Bullish Pattern Is Formed Despite Bitcoin’s Recent $ 3,000 Correction-$ 16200 Is Important Support Level

Jakkk
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A Bullish Pattern Is Formed Despite Bitcoin’s Recent $ 3,000 Correction-$ 16200 Is Important Support Level

Bitcoin has performed a strong correction from its high of around $ 19,500. The leading cryptocurrency is currently trading at USD 16700 to 17200 range, although it has recently dropped to $ 16,200.

This means that Bitcoin fell by more than $ 3,000 from its local highs.

This correction was not well received by many as a few days ago, majority expected Bitcoin to move to new all-time highs. The market was extremely bullish so some analyst expected a drop.

This downward rally has formed a bullish pattern. BTC actually bounced back at an extremely important macro level.

Bitcoin Forms Bullish Candle Despite Falling

A Bullish Pattern Is Formed Despite Bitcoin's Recent $ 3,000 Correction

Bitcoin Weekly Chart

Bitcoin’s strong $ 3,000 correction found a strong support on very important level of $ 16,200.

Many traders shared the chart and have a common view that Bitcoin’s weekly candle bounced at an extremely important level.

The importance of this level extends to the 2017/2018 highs. The chart shows that Bitcoin actually touched $ 16,200 and then corrected 40% before achieving all time high in 2017. This resistance of 16200 USD in 2017 is now becoming a support in 2020, and is extremely important and if BTC is able to remain on the top of this support, there are solid chances that new all time highs will be achieved.

Bitcoin, finding support here on this weekly chart, could confirm that the uptrend remains intact.

It is important that BTC actually trades above $ 16,200 over the next two days in order to confirm this level as technical support.

However, Bitcoin could face another leg lower. Key Young Joo, CEO of crypto data analytics firm CryptoQuant, recently noted that whales have deposited more BTC than usual on exchanges.

“BTC whales make deposits on exchanges. I expect dumping in the short term. On all exchanges, the average inflow was more than normal. To me we are still in a danger zone. The price may go sideways or even go more down when the whales are active on the exchanges. Investors can sell their coins, which could lead to further sell-off”.

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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