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TokenPay Lash Out At Bitcoin Cash; ‘It’s Slow And Expensive’

TokenPay Lash Out At Bitcoin Cash; ‘It’s Slow And Expensive’
TokenPay have been on fire recently, making the most of their social media pages to literally lay into their rivals. It’s brave, but if they think they are the best, they might as well try and flaunt it right? After flogging XRP and NEO very recently, TokenPay have now decided to tap into the Bitcoin debate. Not holding back, TokenPay refer to Bitcoin Cash as slow and expensive, but even more insultingly to the Bitcoin Cash community, TokenPay also seem to disregard Bitcoin Cash and hint that in their eyes, Bitcoin Core is the original and real Bitcoin. It’s so complicated, it’s like a family feud behind the scenes at a wedding, one of those feuds that we’re better off keeping out of. Either way, TokenPay aren’t taking any prisoners. According to Ethereum World News, TokenPay have said the following, in response to this tweet by Bao Le:
“Also fact, anyone like to dispute / debate? @rogerkver @officialmcafee @derekcapo maybe @officiallykeith can host it again! #TPAY vs. #BCH. Bitcoin on Steroids vs so call “Real Bitcoin” heck let’s bring in all the bitcoin fork!”
TokenPay (boldy) said:
“Not sure how “we are the real Bitcoin”, makes BCH even a candidate as a transaction coin? Bitcoin isn’t even good for ordinary transactions as it is slow and expensive. We fixed that with $TPAY. Why would anybody want to use fake Bitcoin for anything related to commerce activity.”
If that wasn’t enough:
“$TPAY features 2 second transaction confirmations (http://explorer.tpay.ai ) and a fully anonymous stealth mode. We call it “Bitcoin on Steroids” because it simply has more features and works better for transactions. It isn’t $BTC, either is $BCH. But for transactions TPAY > BCH.”
Bitcoin on steroids, or is it Bitcoin Cash on steroids? You can see the full article for yourself, here. It’s all a bit savage isn’t it A lot of this sort of thing is to generate press exposure, and look, it’s working. Otherwise, many people might not even see TokenPay and Bitcoin as direct rivals. It’s a healthy competition and is good, because it allows people to do your own research and make their own informed decisions. If TokenPay say they are the best, you’re more likely to go on and see if they can justify their claims. If they are wrong, stick with what you know, but if indeed it seems that their claims are legitimate, maybe its a project to watch? We aren’t saying either side of the debate is right by the way, it’s just interesting to see how the likes of social media can allow these tensions to come to a head in this way, isn’t it?

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Bitcoin Cash Price Analysis: BCH Needs Community Support

Bitcoin Cash Price Analysis: BCH Needs Community Support

This analysis brought to you by RoboForex.

On Tuesday, November 17th, the BCH is growing, trading near 252.50 USD.

On D1, the Bitcoin Cash keeps moving in a sideways channel. The quotations have bounced off the support level and are trading at 38.2% Fibo. A breakaway of this level and securing above it will become an additional signal for growth with the aim at the next level of 50.0%. The MACD is below zero, which might mean an upcoming minor correction. Comparing the data from the chart and the indicator, we might expect a small correction and then growth to 268.00 USD.

Om H4, the Bitcoin Cash is trading above 38.2% Fibo. Currently, this is another signal of further growth with the aim at 50.0%. The Stochastic is on the verge of forming a Golden Cross at the oversold area, which may signal for the end of a pullback and soon continuation of the ascending impulse. The aim of the growth is the same as on D1 — 268.00 USD.

After a hardfork in the Bitcoin Cash network on November 15th, the network again "split in two". Anyway, the update was not take positively in the market: some investors think that the project is unstable, and its future is vague. Some fans of the BCH are sure that constant conflict hardforks (this one was the third in four years) split the crypto community in two parts, which is harmful for the token.

Experts think that the lack of market support can draw almost any cryptocurrency down if it suggests no up-to-date technology or solutions. This is what might happen to the BCH.

Hardforks happen in the network roughly every six months. They happen when there is no agreement in the crypto society about the key ways of development. If so, the network splits. For example, in 2018, a hardfork resulted in the appearance of the Bitcoin CV, then the Bitcoin Cash Node. Not that people were agitated by the coins; they have their fans but have little weight in the market.

Recently, the PayPal payment system has added the Bitcoin Cash to the list of available coins alongside the BTC, ETH, and LTC. This means that one of the cryptocurrencies that appear as the result of the hardfork may acquire the support of the community, which will later affect its price. 

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

 

Disclaimer

Any predictions contained herein are based on the author's particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

 

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Crypto Price Analysis for Oct. 21, 2020: BTC, ETH, LTC, BCH, TRX

Crypto Price Analysis for Oct. 21, 2020: BTC, ETH, LTC, BCH, TRX

This analysis brought to you by RoboForex.

The cryptocurrency market is demonstrating some positive dynamics. Bitcoin is attacking the short-term high, a breakout of which may push the instrument towards $15,000. Other cryptoassets aren’t so aggressive but they are also ready to move upwards and break their respective resistance areas. On the other hand, the unwillingness of BTC/USD to fix above $12,495 and then rebound to the downside may hint at an attempt to form a Double Top reversal pattern, that’s why it’s very important for bulls to break the above-mentioned level in the nearest future. Such a breakout will be a good signal in favor of further ascending movement for the entire cryptocurrency market.

Bitcoin

In the daily chart, Bitcoin has almost reached the closest local high at $12,495. A breakout of this level will indicate further growth towards $13б955. As one can see, bulls have been able to cancel the formation of a Head & Shoulders reversal pattern, that’s why there is a potential for further ascending movement to cover the distance equal to the pattern’s height and reach $15,605. However, to confirm this idea, the price must break the resistance area and fix above $12,495. Still, this scenario may no longer be valid if the asset breaks the rising channel’s downside border and fixes below $11,130. After that, the instrument may continue trading downwards with the target at $10,180.

As we can see in the H4 chart, BTC/USD is steadily growing within the rising channel. The RSI is rebounding from the support line, which is a signal in favor of a breakout of the resistance line soon. However, one shouldn’t exclude the possibility of a new correction to test the rising channel’s downside border at $11,750 before another wave to the upside. Still, this scenario may be canceled if the price breaks the support area and fixes below $11,545. In this case, the instrument may continue the descending correction towards $10,185.

Ethereum

As we can see in the daily chart, ETH/USD continues testing the resistance area. After the closing price breaks $397, the cryptocurrency is expected to continue growing towards $490. The RSI hasn’t been able to break the descending trendline; such a breakout will indicate steady growth to reach the local high. However, the bullish scenario may no longer be valid if the market breaks the rising channel’s downside border and fixes below $309. In this case, the next downside target will be at $208.

On shorter timeframes, the cryptocurrency is stuck inside a Triangle pattern again. After breaking the pattern’s upside border and fixing above $385, the pair may continue trading upwards and completely materialize the pattern with the target at $430. A strong signal in favor of this idea is another rebound from the support line at the RSI. However, this bullish scenario may be canceled if the market breaks the pattern’s downside border and fixes below $356. After that, the instrument may continue the descending correction to reach $332.

Litecoin

In the daily chart, Litecoin is still correcting and forming a Head & Shoulders reversal pattern. There are still risks of further decline and the pattern materialization if the price breaks the support area and fixes below $38.55. However, the main scenario implies that the market may try to break the resistance area and fix above $52. In this case, the pattern will be canceled and the asset may continue trading upwards with the target at $60.

As we can see in the H4 chart, LTC/USD has broken the descending channel’s upside border. One shouldn’t exclude the possibility of a test of the broken border before further growth towards $51.40. A god signal in favor of this idea will be a rebound from the support line at the RSI. However, this bullish scenario may no longer be valid if the market breaks the rising channel’s downside border and fixes below $45.45. After that, the instrument may continue falling to reach $41.60.

Bitcoin Cash

As we can see in the daily chart, Bitcoin Cash is no longer trading within the descending channel. There is a potential for further growth towards $338. To confirm this idea, the cryptocurrency must break the resistance area and fix above $268 – this level is a serious obstacle for bulls. However, this scenario may no longer be valid if the market breaks the rising channel’s downside border and fixes below $199. In this case, the instrument may continue falling with the target at $139.

In the H4 chart, the asset has rebounded from the support area at $237. The closest upside target is at $268. A strong signal in favor of further growth is a rebound from the support line at the RSI. Still, this scenario may be canceled if the market breaks the rising channel’s downside border and fixes below $237. After that, the instrument may continue moving downwards to reach $201.

TRON

In the daily chart, TRON continues moving within the rising channel and forming a “5-0” pattern. The RSI has once again rebounded from the support line and there are chances to see further growth with the first target at $.0.036. To confirm this idea, the asset must break the resistance rea and fix above $0.029. However, this scenario may no longer be valid if the market breaks the rising channel’s downside border and fixes below $0.021. In this case, the instrument may continue falling to reach $0.016.

On shorter timeframes, the cryptocurrency is forming a Triangle pattern. Bulls tried to break the pattern’s upside border but have failed to fix the price above the resistance area so far. Only after breaking this border, the asset may start a proper growth towards $0.036. another signal in favor of this idea will be a rebound from the support line at the RSI – as one can see, each test of this line leads to further growth. Still, this scenario may be canceled if the market breaks the pattern’s downside border and fixes below $0.024. After that, the instrument may continue trading downwards with the target at $0.016.

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

 

Disclaimer

Any predictions contained herein are based on the author's particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

 

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 

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Crypto Price Analysis for Oct. 14: BTC, ETH, XRP, LTC, BCH

Crypto Price Analysis for Oct. 14: BTC, ETH, XRP, LTC, BCH

This analysis brought to you by RoboForex.

Bulls have been able to push Bitcoin past the sideways channel, so they may continue pushing it upwards to reach the next target at $12,495. If the asset fixes above this level, it may continue growing towards new highs. It’s very important for bulls to break this level because otherwise there are risks of the formation of a reversal pattern. If this level is not broken, bears may easily drop the cryptocurrency rate. Moreover, similar patterns can be found on charts of other assets, such as Litecoin and Bitcoin Cash, that’s why bulls must update local highs to make the entire cryptocurrency market start a proper rising movement.

Bitcoin

As we can see in the daily chart, after breaking the upside border of the channel, where it had been moving for quite a long time, Bitcoin has fixed above $11,200. The asset has also broken the descending channel’s upside border, which may indicate further growth towards $12,495. Another signal in favor of this idea is that the RSI is also rebounding from the ascending trendline. To confirm this scenario, it’s important for bulls to fix the price above $12,495. Otherwise, the cryptocurrency may break $10,105 and complete the formation of a Head & Shoulders reversal pattern. In this case, the instrument may continue falling with the target of the pattern materialization at $7,000.

In the H4 chart, the asset is no longer moving inside a Triangle pattern. There are chances to see further growth within the frameworks of the pattern materialization. Another signal in favor of this idea will be a rebound from the rising channel’s downside border on the price chart and the support lien at the RSI. As we can see, the previous test of the trendline at the RSI resulted in a rebound of the price. However, this scenario may be canceled if the asset breaks the rising channel’s downside border and fixes below $10,960. After that, the instrument may continue trading downwards to reach $10,350.

Ethereum

In the daily chart, ETH/USD has rebounded from the support level. After breaking the descending channel’s upside border and fixing above $397, the cryptocurrency resume growing and start the “5-0” pattern materialization. A strong signal in favor of this idea is a breakout of the descending trendline at the RSI: right now, the indicator is returning to the broken line, which may lead to further growth of the price. However, this scenario may no longer be valid if the pair breaks the rising channel’s downside border and fixes below $306. After that, the instrument may continue falling with the target at $208.

On shorter timeframes, Ethereum has broken the upside border of a Triangle pattern. Possibly, the pair may continue growing towards $450 within the frameworks of the pattern materialization. However, one shouldn’t exclude a possibility of a correction to test the pattern’s upside border and then – further growth. A signal in favor of this idea will be a rebound from the support line at the RSI: as we can see, the previous test resulted in a rebound to the upside and a breakout of the Triangle pattern’ upper border. However, this bullish scenario may be canceled if the price breaks the support area and fixes below $330. In this case, the instrument may continue trading downwards.

Litecoin

As we can see in the daily chart, Litecoin is still moving upwards and forming a Head & Shoulders reversal pattern. To cancel the pattern, bulls must break $70, thus indicating further growth towards $84. To confirm this trading idea, the asset must break the descending channel’s upside border and fix above $57. However, if bears manage to break the support area and keep the price below $38, the market may continue falling towards $25 and forming a reversal pattern.

In the H4 chart, the cryptocurrency has left a Triangle pattern. After a slight correction, the asset may continue trading upwards within the frameworks of the pattern materialization. The upside target is at $56. Another signal in favor of this idea will be a rebound from the support line at the RSI. Still, if the market falls and breaks $41, the instrument may continue trading downwards with the target at $35.

XRP

In the daily chart, XRP continues testing the upside border of the Bollinger Bands indicator but has failed to break it yet. Also, the cryptocurrency is forming a large Head & Shoulders reversal pattern. To complete the pattern, the price must test $0.1675. Another signal in favor of this idea will be a rebound from the support line at the RSI.

On shorter timeframes, the cryptocurrency is moving within a Triangle pattern. $0.2590 is a very important level here as bulls have failed to break it upwards yet. As a result, one should consider a test of the pattern’s downside border followed by a breakout of the pattern to the upside and then further growth towards $0.3050. one more signal in favor of this scenario will be a rebound from the support line at the RSI. However, this bullish scenario may be no longer valid if the instrument breaks the pattern’s downside border and fixes below $0.2400. In this case, the asset may continue falling to reach $0.2185.

Bitcoin Cash

As we can see in the daily chart, Bitcoin Cash has rebounded from the support area. The next upside target is at $279. A breakout of this level will lead to further growth towards $338 where the cryptocurrency may break the descending channel’s upside border. This might be a strong signal for the price to continue moving upwards. However, if the asset rebound from the descending trendline and fix below $199, the instrument may continue trading downwards with the target at $140.

In the H4 chart, the cryptocurrency is no longer moving within a Triangle pattern: the price has broken it to the upside and may continue growing within the frameworks of the pattern materialization. The upside target is at $299. To confirm this scenario, the asset must break the resistance area and fix above $258. Another signal in favor of this idea will be a rebound from the support line at the RSI. However, this scenario may be canceled if the market breaks the support area and fixes below $199. After that, the instrument may resume falling.

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

 

Disclaimer

Any predictions contained herein are based on the author's particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

 

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Developer Debates on the bitcoin cash network, is a split likely?

Developer Debates on the bitcoin cash network, is a split likely?
  • The community for bitcoin cash has recently been split in regards to whether they should change the difficulty adjustment algorithm for the Cryptocurrency. 
  • A recent developing meeting seemingly ended with many attendees walking out. 

The community for bitcoin cash has recently been split in regards to whether they should change the difficulty adjustment algorithm for the Cryptocurrency. A recent developing meeting seemingly ended with many attendees walking out. 

Earlier this week on the 4th of August, Chris Pacia, one of the lead developers of the peer-to-peer marketplace and a volunteer developer for the bitcoin cash system tweeted the following: 

Some reports are showing that given the growing tensions over the difficulty algorithm, another chain split for the network could occur. Hayden Otto, an Australian proponent for the network has said that he will be sticking with the network though. Although he later revealed that his tweet was meant to be seen as a joke to those opposing the core bitcoin ABC developers.

However, Otto does add that a chain split is likely to occur saying that the software is not widely adopted by many minors. With this in mind, the supporters wouldn’t have the majority voted to get their changes through the upgrade on the date.

“They are now relying on ‘proof of social media’ tactics in an attempt to persuade miners and businesses who run ABC to capitulate and swap over to the BCHN software.”


It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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