Home Blog Page 2

DOGE on a roller coaster ride from past 5 days

BitKeep, a decentralized digital asset wallet has now added DOGE in their iOS and Android wallets. DOGE followers might get more visibility with this partnership. Let’s hope for the DOGE capitalization to increase as well.


DOGE is currently trading at $0.003071 at 07:23 UTC as on 22nd July 2019. Considering the data from past 5 days, on 17th July at 19:00 UTC, the coin was trading at $0.003089 which dropped by 12.34% on 18th July at 14:10 UTC. The coin was then escalated by 18.65% on 19th July at 01:05 UTC time with $0.003214 as the trading value. However, on the same day coin dropped by 11.7% at 13:05 UTC trading at $0.002841. On 20th July at 16:40 UTC time, the value increased by 12.9% with $0.003208 being the trading price. Yesterday, at 14:30 UTC, the value was dropped again by 9.56% trading at $0.002901. The current trading value is increased by 6% from then.

DOGE, since fluctuating in the slight bearish zone may get the potential investors to join the network and go long with their investments. However, it seems that the price might fluctuate in the bearish zone for a while. So it is better advised to watch the trend closely as of now.

For traders confused on the level of safer biding, they might want to consider the resistance level and support level after analyzing the open and close trend of yesterday.

R3: 0.00335

R2: 0.003258

R1: 0.003167

S1: 0.002984

S2: 0.002892

S3: 0.002801

Bitcoin Vs Ethereum Price Analysis: Last Week’s Declining Trend Slows Down The Pace

One of the giants of the crypto market, Folgory, recently launched a fully integrated mobile app and a regulated trading exchange. Both the services will allow crypto traders to manage their digital assets at a single platform. A major concern for traders for over a period of time is the liquidity of exchange i.e. how the exchange will deal with the liquid assets. And this is the area where Folgory has focused mainly, to entrust traders with confidence and peace of mind.

Let’s analyse the price variation of the leading coins, Bitcoin and Ethereum over a period of 25-days. On June 27, Bitcoin was trading at 12836.46 USD while Ethereum was around 331.79 USD. During this period, coins have gone by a substantial loss.

Bitcoin made a dip of 17.67%, at the same time, Ethereum went down by 32.35%. However, in weekly trading, the coins have shown almost flat trading where Bitcoin has made a slight dip of 2.40% from the trading price of 10876.41 USD on July 16, Ethereum has fallen by 2.42% from 231.66 USD.

Although there is a bit of slowdown in both crypto coins, the positive market sentiments still persist, and one should expect good returns. Bitcoin and Ethereum have strengthened in the last couple of days and as per our prediction, Bitcoin will trade around 15,000 USD to 20,000 USD in the long-term while ETH is expected to trade around 500 USD.

For now, the immediate resistance for BTC is at 10830.8 USD and for Ethereum, it is at 230.65 USD.

A Brief Outline of Altcoin – Explained!


Altcoins are launched as an alternative cryptocurrency after the accomplishment of Bitcoin. Moreover, they display themselves as better substitutes to Bitcoin. The achievement of Bitcoin as the primary peer to peer digital currency made way for individuals to follow. Many altcoins are attempting to focus on any apparent limitations that Bitcoin has, and have emerged with more current adaptations with a competitive edge. As the term ‘altcoins’ signifies all cryptocurrencies which are not Bitcoin, though there are several altcoins.

Altcoin framework

  • A large number of the altcoins are based upon the essential structure given by Bitcoin. Subsequently, most altcoins are into peer to peer, which include a mining procedure by which users can take care of troublesome issues to unlock squares and offer cheap and practical approaches to complete transactions online.
  • With many extending features, altcoins differ broadly from one another. Altcoins differentiate themselves from Bitcoin with a scope of procedural variations, which includes diverse proof-of-work calculations; various methods by which users can use energy to mine the blocks, and application upgrades to increase the anonymity of the users.
  • Namecoin, one of the prominent altcoin, depended on the Bitcoin code and utilized a similar proof-of-work algorithm Similar to Bitcoin; Namecoin is constrained to 21 million coins. Launched in April 2011, Namecoin branched off from Bitcoin by making user domains less noticeable, enabling users to enlist and mine utilizing their domains, which was pre-planned to increase censorship and anonymity.
  • Some of the examples of altcoin are Litecoin, Dogecoin, Ethereum, and Ripple. Litecoin is viewed as the nearest competitor to Bitcoin. There are more than 900 Altcoin cryptocurrencies that have been made since Bitcoin.

Features of Altcoin

  • Altcoins may vary from Bitcoin in every way, like mining systems, coin distribution techniques, or the potential to make decentralized applications.
  • Altcoins are assuming a significant role by expanding the limits of blockchain with its capabilities and the extent of applications.
  • Altcoin can be referred to as alternative coin. Moreover, any cryptocurrency available on the market that is not Bitcoin is mentioned as an altcoin. Some of the popular coins are Ethereum, Ripple, and Litecoin.

Types of Altcoins

To name a few noteworthy altcoins are Ether, Bitcoin Cash, Ripple, Litecoin, and Monero. These are only a few altcoins. Moreover, there are a great many altcoins, and anybody can make one.

  • Ether is the cryptocurrency initiated by the Ethereum platform, so this digital currency is frequently called as Ethereum. Moreover, the Ethereum platform is a ledger technology where different organizations can rely on. Example for one such is CryptoKitties, which utilizes the Ethereum platform.
  • Bitcoin Cash was initially a fork of Bitcoin; however is presently a different currency, in spite of its name. It has structural changes which had lead to quick exchanges and low fee when contrasted with Bitcoin.
  • Ripple otherwise called XRP, and is possessed by a privately owned organization. Moreover, the organization is named Ripple, and the tokens are named as XRP; however, the cash is frequently called the Ripple at any rate.
  • Litecoin was initially a fork of Bitcoin. Litecoin utilizes an alternate proof-of-work calculation that is progressively intensive on memory, where Bitcoin is intensive on power.
  • Monero is represented to be private, secure, and untraceable. Moreover, it is not like Bitcoin exchanges on the blockchain that cannot be traced back to single users.

Why Altcoins Began to Emerge

  • One of the reasons that altcoins began to emerge was with an end goal to improve the imperfections in bitcoin, and with effort, it was trying to compete with cryptocurrency which was already successful by creating and advancing new features that would outperform the limitations of bitcoin.
  • Another vital factor was the real transaction time. There are some altcoins, like Fastcoin and Litecoin, that have blockchain update times higher, or progressively, quicker than bitcoin.

Wrap up

Furthermore, there is nothing unique about Bitcoin that empowers individuals to utilize it if something better comes in. Even though the cryptocurrency is the future and every bit of information will be stored on a blockchain, Bitcoin could become useless and will be left behind if individuals change to altcoins, either to current altcoins, or the future altcoins. What gives Bitcoin is its value, which is trusted by individuals. Besides, if individuals agree to an altcoin that they like better, Bitcoin will have to take a back seat.

US Government Seizes Bitcoin Worth $19 Million from Drug Trader through Dark Web Drug Investigation

US officials successfully managed to seize Bitcoin worth $19 million from the drug dealer. A drug dealer was reportedly processing funds privately through the digital currency over the dark website called ‘Silk Road.’

The Attorney’s office of the Southern New York District revealed the news on 18th July, Thursday mentioning that the 60-year-old drug dealer, Hugh Brian Haney was detained in Ohio near Columbus. In 2017 and 2018, Brian had apparently exchanged Bitcoins he had achieved via ‘Silk Road’ to an account registered at a firm. Brian wrongly mentioned that the Bitcoin was earned through mining.

The officials have imposed two counts on Brian; one count of hiding money laundering if proved then Brian might face the punishment of a maximum of 20 years in prison and the other count of involvement in a based financial transaction across an illegally acquired property that might make Brian face punishment for a maximum of 10 years in jail.

“HSI special agents employed blockchain analytics to uncover and seize bitcoins valued at $19 million and usher Haney out of the dark web shadows to face justice in the Southern District of New York,” Angel M. Melendez, special agent-in-charge of Homeland Security Investigation mentioned.

Video Streaming Giant Netflix Experiences Biggest Hiccup since its Earliest Days

Netflix seemed like an unstoppable juggernaut around a year ago as the online streaming giant continued to gather new subscribers in the United States and the rest of the world. The stock price continued to climb as well as its slew of original shows attracted new customers to the platform. However, the company’s eagerly anticipated earnings report for the 2nd quarter dropped a bombshell of sorts on investors as it reported a drop in the number of customers in the United States and the subscriber growth in other territories remained muted as well. The company reported that it had lost a staggering 130,000 customers in the United States along. The reason behind the drop is being attributed to the rise in subscription prices and an underwhelming line up of shows during the period.

On the international front, the company added 2.8 million subscribers, and while that is a commendable performance, it needs to be pointed out that the figure is half of Netflix’s earlier projections. Needless to say, the updates took a heavy toll on the stock as well as it nosedived by as much as 13% and hit $314 a share. In this regard, it is also important to point out that up until the point the company remained a monopoly of sorts, it enjoyed significant growth. However, the entrance of well-capitalized companies like Disney into the online streaming space and rising competition seems to have taken a toll on the company. Analyst Eric Haggstrom of EMarketer Inc said as much. He said, “Netflix has a difficult road ahead, with looming competition and the removal of popular content.”

It is important to point out that this is the company’s worst show since it had separated its DVD mail-order business from its streaming service. That being said, the company insists that it is only a minor hiccup for the company and also pointed out that the second quarter has generally been an underwhelming one. Chief Executive Officer of Netflix, Reed Hastings said, “Our position is excellent. We’re building amazing capacity for content. Our product has never been in better shape.”

Chinese Money Manager Beating 98% of Rivals Backs Hong Kong Stocks

The world of high finance and investing is filled with stories of star fund managers making contrarian bets and walking away with enormous returns. That being said, many such contrarian bets have also proven to be wrong and resulted in significant losses as well. However, when China’s best equity fund manager places a contrarian bet, then people are bound to take notice. Hong Kong is currently in turmoil as the citizens of the country protest against the Chinese government, and that has taken a heavy toll on the stocks tied to the Asian financial hub.

While many investors are fleeing, the star investor at China’s Qianhai Kaiyuan Fund Management Co named Qu Yang has managed to increase his exposure to Hong Kong stocks in one of his more important equity funds. More importantly, it is necessary to point out that he has been the best investor in China recently, having beaten 98% of his rivals by way of returns. That is precisely the reason why this particular move from Yang is being regarded with such importance. According to the fund’s fact sheet, Yang has raised the proportion of Hong Kong stocks in one of his more important funds to as much as 30%. It is particularly interesting since in the first quarter, the same fund had only 13% in Hong Kong stocks, and the current level is the highest in two years.

In an interview earlier this month, Yang had spoken about his sentiments with regards to Hong Kong stocks and stated that they are primed to generate better returns in the second half of the year. He said, “Hong Kong stocks have a better chance than A shares of outperforming in the second half.” It has also emerged that Yang has sold many of his positions in some of the better performing Chinese stocks and allocated it to those in Hong Kong. In addition to that, experts believe that the possibility of a rate cut from the United States Federal Reserve at some point this year could also fire up Hong Kong stocks.

Stocks in Europe Reach Week’s High after Good Show from Fashion Brand Burberry

The stock markets in Europe have been a bit subdued for some time now, but yesterday the stocks in the continent got a major boost. The impressive quarterly results of British luxury fashion brand Burberry and favorable earnings reports from some of the biggest banks on Wall Street, sparked optimism in the European markets yesterday. The stocks reached their highest levels in the week after the double boost. Burberry’s impressive show in the quarterly results saw its shares surge by as much as 14.4%, thereby giving the stock the biggest rise in a single day in the past seven years.

The results indicated that the new designs that have been created by Riccardo Tisci, the creative head, have resulted in higher demand for Burberry products. The show from Burberry resulted in gains for other luxury brands in Europe like Kering, the parent company of Gucci, Hermes and LVMH, owner of Louis Vuitton. The FCHI index of Paris gained 0.65%, while on the other hand the FTSE 100 in Britain recorded .6% gains. It is believed that the current weakness in the British pound was also responsible for the rise in the stock of multinational firms listed in the FTSE 100.

It is a vital week for the European markets as some of the biggest companies in the continent are going to post their earnings. Some of the companies which are going to post their earnings this week include Novartis and SAP, among others. Joshua Mahony, who is a senior market analyst, stated that it is still difficult to gauge the expectations of the market ahead of the earnings season. He went on to add that earnings are also expected to be flat. Mahony said, “The question is how high market expectations are going into an earnings season that is expected to provide another batch of largely flat or negative earnings figures. Business confidence is low, and global growth has taken a hit so that the forward-looking outlook will be critical for traders.” That being said, the current sentiment in the European markets seem optimistic.

Grayscale Investments Assets Under Management accounted to $2.7 billion; Tripled in Q2 2019

Grayscale Investments, digital asset management fund noticed powerful quarterly inflow in Q2 2019. The firm recorded the highest volume of assets under management at $2.7 billion.

In the second quarter of 2019, Bitcoin started performing better in the market. Initially was trading at $4,100 and managed to cross 10,000 points. Bitcoin even reached $13,900 point at one instance.

This amazing performance of Bitcoin has led the assets under management of Grayscale Investment to increase by three-fold in Q2 2019; the digital asset management fund mentioned it in its Q2 report of 2019.

Grayscale Investment firm widely deals with various cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum Classic, Ethereum Horizen, Litecoin, XRP, Zcash, and Stellar.

Grayscale Investment firm notice powerful surge in Q2

During the first quarter of 2019, the digital asset firm recorded total investment of $127.4 million, out of its total investment $84.8 million is part of the Q2 quarter, increased by two-fold.

According to Digital Asset Investment Report of Q2 2019, Gracyscale’s asset under management accounted to $2.7 billion as on 15th July. The data recorded mentioned assets under management surged by 3x of the company in comparison to its previous quarter.

The Investment firm states that the new investments were as a result of the increase in digital currencies value in recent times. Bitcoin not the only one to develop positive performance, other investment vehicles also performed positively.

Grayscale Bitcoin Trust’s quarterly returns were recorded by Grayscale Digital Large Cap Fund at 178.8 percent and 147.6 percent.

“Grayscale assets under management (“AUM”) nearly tripled from $926 million to $2.7 billion amid digital asset market resurgence.”

The Grayscale Investment firm temporarily shut new investment in May and June.

Nearly 70 percent of investment was as a result of investor transferring tokens; they had invested in Grayscale products shares. All the ten investment vehicles of Grayscale performed better in the Q2, the foremost positive performance of these vehicles in 2019.

Ever since Q2 of 2018, this marks as the ‘strongest quarterly inflow’ that mostly surged by 2x as a result of new investment.

While in Q2, Grayscale Products ex Bitcoin Trust recorded 24 percent of inflows, and Grayscale Ethereum Trust recorded around $14 million of inflows, Grayscale Ethereum Classic Trust recorded inflow of $5.5 million.

Meanwhile, Grayscale Bitcoin Trust recorded $76 percent of inflow in Q2 of 2019.

Grayscale products growth is mainly driven by institutional demand. In Q2 of 2019, institutional investors controlled by hedge funds accounted for the highest percentage of entire Grayscale products demand at 84 percent because hedge funds started posting the report in 2018.

Relief from Latest Chinese Economic Data Fires Up Emerging Asian Currencies

The Chinese economy is still the 2nd biggest in the world, but it has been in the middle of turmoil over the past months as its famed rate of growth has slowed down considerably. In addition to that, domestic demand has slowed down considerably, and that has had an adverse effect on countries businesses as well as countries which export heavily to China. Last but not the least, it is also necessary to add that the trade way with the United States has not helped matters at all. However, the country’s second-quarter economic figures have resulted in a lot of optimism. The stock markets in many of the countries in Asia rebounded today, and in addition to that, currencies in the emerging economies in Asia recorded significant gains as well.

The Gross Domestic Product grew at 6.3% in the second quarter of the year, and although it is the slowest rate of growth in as long as 27 years, it still led to overwhelming optimism in the markets. The currencies of the emerging economies in the continent have gained considerably, and much of the rally has been led by the Indonesian Rupiah. In this regard, it needs to be kept in mind that Indonesia is one of the biggest exporters to China.

That being said, it is also necessary to point out that a range of government stimulus programs had been responsible for steadying the economy amid the pressure of the bruising trade war with the United States. A foreign exchange expert at the Bank of Singapore stated, “That (data) shows that the policy stimulus is making its way into the economy and helped offset the damage from the trade war. Overall, the China growth is bumpy, but not faltering, and that is a relief for the rest of Asia.” The Rupiah, which has proven to be the biggest gainer, reached its highest level in five months after the data was released. The newly elected leadership in the country has announced that it is going to spend heavily on infrastructure projects, and China could be heavily involved in those.

US Proposes ‘Keep Big Tech Out of Finance Act’ Bill, May Ban Leading Tech Companies From Providing Financial Services or Issuing Cryptocurrencies

The Democratic majority that runs the House Financial Services Committee has proposed a draft to block large tech organization from offering financial based services or issuing virtual currencies in the US. The bill has been distributed for discussion, according to Reuters.

On Monday, Reuters saw a copy of the proposed bill distributed online. US policymakers in the House of Representative are seeking to increase scrutiny across large tech companies that focus on digital currencies.

Facebook, the tech giant company, was working on its Libra project for some time and officially announced it in June 2019. Facebook’s digital coin ‘Libra’ has stirred massive objection, the new bill was drafted within weeks after Facebook revealed its crypto plan to increase scrutiny.

Within the section of ‘Prohibition-related to cryptocurrencies,’ the proposed bill named as ‘Keep Big Tech Out of Finance Act’ mentions:

“A large platform utility may not establish, maintain, or operate a digital asset that is intended to be widely used as medium of exchange, unit of account, store of value, or any other similar function, as defined by the Board of Governors of the Federal Reserve System.”

The bill further briefs any big technological company with annual revenue of more than $25 billion throughout the world are included under this section, and any violation of the rule will allow the company to pay a fine of worth $1 billion per day.

Facebook’s annual global revenue for 2018 was $55 billion, and the bill includes companies having annual revenue over $25 billion, and thus, Facebook is one of the tech organizations to qualify. In June, the tech company mentioned that it would release its global digital currency in 2020.

The proposed bill gives out a tough message to the leading tech companies who are planning to expand the financial services sector.

The proposed bill describes crypto asset as an asset that is provided and exchanged using distributed ledger technology or blockchain, also includes coins, tokens, and virtual currencies.

The proposed bill is not officially presented but currently in discussion form.

The new global digital coin of Facebook will be controlled by Libra association that includes 28 tech companies as partners, namely, PayPal Holdings, Mastercard, Uber Technologies, and others. No financial institution names are included in the Libra association group as of now.

Chairman of Federal Reserve, Jerome Powell informed US lawmakers that Facebook’s plan to develop a cryptocurrency dubbed ‘Libra’ might not move to the next stage unless the project mentions issues relating to privacy, consumer protection, and money laundering and financial stability.

Only after this in the previous week, the US president Trump shared his response on digital currencies through a series of tweets on Twitter. He criticized Facebook’s crypto coin ‘Libra’ and other leading digital currencies. He ordered that firms should seek a banking charter and follow US and global rules if they wished to ‘become a bank.’

Regulators from throughout the world have raised the question over the plan of how Facebook will remain flexible with central banking rules.

Get in touch


Recent Posts

Most Popular

Will Blockchain Revolutionize the Education System?

Education has become an integral part of our lives, and the 21st century has also welcomed a revolutionizing world of cryptocurrency along with it....

An Overview of Forex Trading – Explained!

Forex is a counterword for foreign currency exchange. Foreign exchange can be defined as the process of changing one country's currency into another country...

Dutch Optical Retailer GrandVision to be Acquired by French Giant EssilorLuxottica

French optical retailer EssilorLuxottica has reached an agreement to acquire Dutch company GrandVision in an all-cash deal. The deal could eventually be worth as...

Lufthansa’s Net Profit Collapses as Effect of Higher Oil Price and Price Wars Hit...

If there is one industry that is known for having the thinnest of margins and also the exposure to a lot of risk with...

Thai Restaurant After You is Outperforming Giants like McDonald’s and Starbucks

The world of investment can often throw up trends that can often confound market watchers, but at the end of the day, almost all...