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Falling Ethereum (ETH) Dominance Spells Trouble For Altcoins

Ethereum Dominance (ETH.D) is on a steady decline. It ran into our fib circle but faced a strong rejection on retest and has now declined even below the 7.78 support. That support has now turned into a strong resistance and this bearish development spells trouble for the altcoin market especially the ICOs that are tied to Ethereum (ETH). It would be unreasonable to jump to conclusions and say that Ethereum (ETH) is going to zero but this does mean that the price is going to be hammered hard in the weeks and months ahead. The daily chart for Ethereum Dominance...

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ETH Adoption Limited According To Buterin

The increased cost of transacting on the Ethereum blockchain is having a negative impact on the adoption of the software according to the creator of the project, Vitalik Buterin. The co-founder of Ethereum spoke to the Toronto Star earlier this week where he suggested that projects are considering whether to build technology will more than likely be butted out as the blockchain is overflowing with transactions, as it stands.  Even so, Buterin’s words speak to his understanding of the difficulties ahead for the project, with major planned upgrades including Ethereum 2.0 and a switch to proof-of-stake consensus ahead. Buterin stated:...

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Sally Ho's Technical Analysis 21 August 2019

Bitcoin Bitcoin (BTC/USD) continued to gain ground above the psychologically-important 10,000 figure early in today’s Asian session as traders continued to advance towards the 11,000 figure.  Short-term bias has firmed in the favour of BTC/USD Bulls over the past several days ever since the pair bounced higher from the 9,470.23 level on 15 August, representing the 50% retracement of the move from 5,072.01 to 13,868.44.  Bids then firmed up market sentiment around the 9,765, 9,938, 10,268, and 10,646 levels, leading to price appreciation. Traders have been attempting to establish a foothold above the 50-bar MA (4-hourly) for several sessions, and...

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Ethereum Blockchain Almost Full Leaving Scalability More Important Than Ever

Recently speaking to The Star news outlet earlier this week, the co-founder of Ethereum, Vitalik Buterin reiterated his views on the Ethereum blockchain in that it faces a major scalability barrier. He explained that the blockchain is “almost full” but dealing with this problem would not only reach further adoption but would also reduce transaction costs. Buterin has stated: “Scalability is a big bottleneck because Ethereum blockchain is almost full. If you’re a bigger organization, the calculus is that if we join it will not only be full but we will be competing with everyone for transaction space. It’s already...

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Sally Ho's Technical Analysis 20 August 2019

Bitcoin Bitcoin (BTC/USD) orbited the psychologically-important 10,000 figure early in today’s Asian session as traders attempted to build upon the positive upward momentum that saw traders reclaim the 10,000 figure last weekend.  The 10,508.20 level emerged as an important one late in the weekend when traders tested it, an area that represents the 38.2% retracement of the move from 5,072.01 to 13,868.44.  Bids have recently emerged at multiple important technical levels over recent trading sessions, and this is indicative of a stronger upward bias. These levels include the 9,470.23 area, representing the 50% retracement of the move from 5,072.01 to...

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