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Ethereum Classic [ETC] Summit: “Cryptocurrencies will join the likes of Google and Amazon”

Akash Anand

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Ethereum Classic [ETC] Summit: "Cryptocurrencies will join the likes of Google and Amazon"
Source: Unsplash

Day two of the ETC Summit kicked off with Tom Lee of Fundstrat speaking about the first time he really got into Bitcoin [BTC] and how the sheer economics of cryptocurrencies opened up a vista of avenues for him.

Lee, who was part of the discussion panel spread over both days of the conference, talked about the similarities between cryptocurrencies and traditional financial tools such as bonds and equities. It was pointed out to the audience that in both cases the branding has been correct with another similar tangent being the amount of time it took for people to grasp some details about both commodities.

The financial expert also spoke about how the cryptocurrency asset itself was something that needs to be used, unlike the traditional commodities that needed fringes like receipts and bills. The discussion then moved on to price after a tumultuous couple of weeks that saw the price of cryptocurrencies take a massive fall. Tom stated:

“Unlike other markets, the price variations in crypto are so different. It is very surprising to see. Because there is no fundamental value, that includes pay dividends, the price momentum plays a much bigger role unlike the traditional financial world.”

The financial analyst was confident in saying that the products and services in the cryptocurrency industry are undergoing leaps and bounds of developments and in a few years they too will come close to the standards of stocks and bonds.

Continuing on the price run, Lee went on to say that in cryptocurrency, the retail investors make up almost 90-95% of the total investments, making institutional investors into a niche. This, he said, was a huge disparity with the traditional financial market where the institutional investors played a much bigger role.

Tom Lee was also asked about his theory of connecting the Metcalfe’s law with the cryptocurrency industry. He said:

“So, the Metcalfe’s law basically states that the effect of a telecommunications network is proportional to the square of the number of connected users of the system. This idea that the value is not a linear function but rather a log function is something that is arbitrary to Bitcoin and its community. The users drive up the value and sometimes in terms of many multiples.”

The panelist also responded to some common questions that abound in the cryptosphere. Lee further gave his insight on the long-term holding of cryptocurrencies as well as short term. He stated that long-term players in the space hold onto cryptocurrencies for a long time and conduct a sell-off at a peak whereas short sellers look to make a quick profit and get out. It was also pointed out that on some trading platforms the trading market cap difference between Ethereum [ETH] and Ethereum Classic [ETC] was almost exactly the same as the total market cap difference, something that came as a surprise to many.



Lee then went on to speak about what lies in the future for Bitcoin and the cryptocurrency industry in general. He stated that the technology is there for everyone to use and that sometimes the rise and fall can be confusing citing examples of the astronomical shoot up of Dogecoin [DOGE] while other coins were crashing. According to him, the recent crash has actually shown that 2017’s hype was misplaced and that there is a need to cleanse the ecosystem.

He further added that the need of the hour is to implement new technologies like smart contracts that will actually drive the market and further the cause of the cryptocurrency industry. He elucidated on the FANG [Facebook, Amazon, Netflix, Google], an elite club that drives the technological space and said that in the future cryptocurrencies will become part of the FANG club.

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76497|Tron-based USDT: Huobi Global, OKEx and Gate.io announce support for new TRC-20-based Tether

Febin Jose

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Source: Pixabay

Tron Foundation’s relentless push for mass adoption received a major boost recently when Justin Sun, the Foundation’s Chief Executive Officer, announced their partnership with Tether [USDT] to create new stablecoin. The partnership would essentially bring USDT on the Tron blockchain, making transactions faster and free-of-cost, while also improving the use-cases of the stablecoin.

Three major exchanges have now announced support for the Tron-based version of Tether, further bolstering its position in the market. Singapore-based exchange Huobi Global, Malta-based exchange OKEx, and Gate.io, a blockchain assets exchange platform, announced in separate press releases that they will be supporting the new version of Tether.

Source: Twitter

Source: Twitter

Source: Twitter

Source: Twitter

 

 

 

 

 

 

 

 

The TRX-USDT partnership was announced in early March in an effort to bring in a TRC-20-based USDT into the crypto-market. The ‘improved’ coin would stick to the technical token standards maintained by the Tron blockchain and would be interoperable with all Tron-based DApps and protocols.

In their respective press releases, Huobi Global and OKEx stated that the decision was fueled by strong user demand for inclusion of a full-spectrum of stablecoin trading. The exchanges also made it clear that there would now be three different protocol versions of USDT on their platforms: the Bitcoin network-based USDT-Omni, Ethereum-powered USDT-ERC-20, and the new USDT-Tron.

Though the exchanges are some of the world’s largest in terms of trading volume, Tron Foundation had earlier said that the TRX-USDT version was made primarily for Tron-powered Decentralized Exchanges [DEX].



Recently, Tron Foundation also announced an incentive scheme exclusively for TRX-USDT holders. The $20-million incentive plan included the addition of a 20% initial Annual Percentage Rate [APR] for holding the cryptocurrency, which was significantly higher than its prime competition, the USDT-Omni. The plan also announced a scheme spanning over 100 days where USDT-TRX holders would be rewarded more USDT-TRX.

Tron’s DApp program and BitTorrent Token [BTT] launch also saw huge success this year, leading to a temporary surge in the token’s price before a bearish market ensued. On March 17, TRX registered a transaction volume that was five times more than the cumulative transaction volume of its closest competitors ETH and EOS. The transaction volume during this move was recorded to be over $100 million.

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76476|DigiByte [DGB] soars by 9.7% as online movement for Coinbase addition gains momentum

Akash Anand

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DigiByte [DGB] soars by 9.7% as online movement for Coinbase addition gains momentum
Source:Pixabay

The cryptocurrency market was punctuated by several altcoin surges this week, with Tezos and Ontology leading the charge. The latest entrant to ride the bull wave was DigiByte, the 35th ranked cryptocurrency on CoinMarketCap. It climbed up the charts to become the biggest gainer in the top 50.

Source: CoinMarketCap

At press time, DigiByte [DGB] was trading at $0.015, and was rising by 9.72%. The cryptocurrency held a total market cap of $169.073 million with a 24-hour trade volume of $3.091 million. A majority of the trade volume was split between BiteBTC and Bittrex, two popular cryptocurrency exchanges. BiteBTC recorded DigiByte transactions worth $1.156 million, while Bittrex recorded $315,308 worth of DGB trade.

Source: CoinMarketCap

The 24-hour chart showed the cryptocurrency’s value shooting up, before settling into sideways movement. DGB’s value surged from $0.0126 to $0.0144, in under an hour. It was speculated by many online that the addition of DigiByte on Magnum Wallet, and its latest release, the Magnum Notifier Bot, was what sparked the DigiByte surge. The bot is a free-to-use Telegram bot which notifies the user when the connected wallet participates in any transactions. The bot also gives DGB holders all transaction related information.



DigiByte was also helped by its community starting a new online campaign requesting Coinbase CEO Brian Armstrong to add DGB to its fold. Frederik Bf67, a Twitter user, and a DigiByte fan tweeted:

“Hello Brian, i would love to see @coinbase adding @DigiByteCoin to it’s platform. You know #DGB has been around for a long time and has proven itself over time to be a highly secure and fast blockchain with exellent use cases suported by thousands of people on every continent.”

Another DigiByte fan, Mark Brown replied on the same thread saying,

“Tell that to @barrysilbert , he’s the one to talk to brother 😏

@brian_armstrong and @AsiffHirji can do so much. It’s out of their hands.

I’ve even helped pass along a petition and nothing. I’ve gotten over 10k signatures to have #dgb added to #coinbase and nothing.”

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76352|Tron [TRX] announces new incentive scheme for USDT-TRX holders to lure USDT-Omni users

Akash Anand

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Tron [TRX] announces new incentive scheme for USDT-TRX holders to lure USDT-Omni users
Source:Pixabay

Tron’s [TRX] partnerships and updates are meant to take the Tron Foundation, and the cryptocurrency market into the realm of mass adoption. Tron’s recent tie-up with Tether [USDT] made waves, with Tron’s Justin Sun talking up the partnership’s advantages over the Omni network.

In a recent Twitter post, the Founder of the Tron Foundation spoke of a new $20 million incentive plan related to the USDT-TRX partnership. Details revealed that the initial Annual Percentage Rate [APR] for holding the cryptocurrency will be 20% which was significantly higher than its competition. The company’s release also specified that USDT-TRX holders will be rewarded more USDT-TRX during a campaign that will go on for 100 days. Tron’s attempts at dominance over the USDT-Omni tie-up was made evident after the initial budget of $20 million was announced without a hard cap.

The APR will be available to users from the end of April, and will go on till 7 August. Over the course of this time, the APR rate will change from 20 percent to 1 percent, by the end of the 100-day campaign. The new program by Tron is aimed to focus on one thing: migrating the users on the USDT-Omni network to the Tron network. While announcing the USDT-TRX launch, Sun had spoken about the advantages of the Tron ecosystem over the Omni ecosystem.



The Foundation had tweeted,

“TRON’s partnership with @Tether_to to bring $USDT on the #TRON blockchain will make transactions faster and free, and provide more use cases. This is a significant improvement from the last generation of stable coins like Omni.”

Following which, the Tron CEO stated,

“First of all, USDT Tron will offer the liquidity in Tron decentralized exchange. Second, USDT Tron will offer TRX holder, a new way of value storage. Third, USDT Tron will provide the DApp users, a new way to play DApps, which also minimize the risk of the cryptocurrency. Fourth, USDT Tron will give Tron blockchain new legitimacy and the increase the confidence of the institutional investor in that show.”

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76325|Tezos [XTZ] soars by 65% in seven days after community votes for upgrade implementation

Priya

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Tezos [XTZ] soars by 65% in the past seven days after community decides on upgrade implementation
Source: Unsplash

A majority of the cryptocurrency market recorded sideways movement on March 22, however, few cryptocurrencies did showcase double-digit growth over the past seven days, including major coins such as Tezos [XTZ], Ontology [ONT], Maker [MKR], and Bitcoin Cash [BCH].

Tezos [XTZ], the twentieth-largest cryptocurrency by market cap, recorded a massive surge of over 65% over the past seven days. According to CoinMarketCap, at press time, it was trading at $0.741 with a market cap of $492.37 million. The trading volume of the cryptocurrency was $11.63 million, and the chart showed a price hike of over 9% in the past 24 hours.

Tezos seven-days price chart | Source: CoinMarketCap

Tezos seven-day price chart | Source: CoinMarketCap

The highest trading volume for the cryptocurrency was recorded on Gate.io with the XTZ/USDT trading pair. It contributed around 16% of the total trading volume. BitMax was second on the list, contributing 12% via the XTZ/ BTC trading pair. The next three spots were occupied by Kraken, contributing 33.45% on the BTC, USD, and EUR trading pairs.

Tezos price chart | Source: Trading View

Tezos price chart | Source: TradingView

On March 21, the platform announced the completion of its first voting round. The vote was to decide whether the Tezos community was in favor of a system-wide upgrade. The voting saw two upgrades competing, ‘Athens A’ and ‘Athens B’, with Athens A gaining the community’s attention. Athens A received a total of 25,885 community votes, with 18,181 votes in favor of the upgrade. The Tezos Foundation did not take part in the voting system to appear neutral.



The official blog post read,

“As noted, this contributes to the required quorum and further elevates the voices of other members of the Tezos community in this historic first vote.”

The approved proposal would introduce two backward-incompatible changes [hard fork]. These upgrades are related to the scalability of the network and bakers [miners] of the platforms. The first change would increase the Gas limit set per block, thereby increasing the scalability of the network. The second change would decrease the aggregated tokens held by bakers from 10,000 XTZ to 8,000 XTZ.

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76305|IOTA [MIOTA] surges by 7% as retail expansion prospects brighten following Zeux App integration

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IOTA [MIOTA] surges by 7% as retail expansion prospects brighten following Zeux App integration
Source: Pixabay

IOTA [MIOTA], the 14th largest coin in the market was buoyed by its recent integration with the Zeux platform, resulting in the coin surging by 7% against the US Dollar. The coin closed the gap with the privacy-centric Monero [XMR], and trailed the latter by $15 million, at press time.

Zeux announced the MIOTA addition on 21 March via a Medium blog post, and added that this integration will boost the coin’s retail use. Merchants that cater to Apple Pay and Samsung Pay users will now accept MIOTA as well.

The Zeux platform will roll out in Europe by April, and will enter the US in 2020. The application claims to be a “digital banking solution for both fiat and cryptocurrencies,” and plans on tying up with several merchants at the retail level. Zeux already received its license from the UK’s top regulatory body, the Financial Conduct Authority.

Their tweet announcing the integration stated,

Source: Twitter

Frank Zhou, Founder and CEO of Zeux, believes that the partnership will help propel cryptocurrencies into mainstream retail use. Zhou is looking forward to working with IOTA’s Tangle technology, a Distributed Ledger Technology [DLT] facilitating machine-to-machine interactions, seamless micropayments, and data transfers. Referencing Tangle, he said,

“As a distributed ledger with zero transaction fees, The Tangle is a very promising chain for us to build our customer data Dapp.”

Source: Trading View

IOTA was trading at a stagnant price level of $0.291, with a brief surge to $0.302 on 16 March. After dropping to $0.285, the coin later saw a massive increase of 7.97 percent and pushed the price to $0.308.

The rise continued with the coin reaching $0.315 in the next six hours, peaking at $0.323 on 22 March. At press time, the coin was trading at $0.319. This was the coin’s highest price since 24 February.

In terms of market capitalization, the coin was hovering around the $830 million mark, prior to a drop to $806 million. Following this, the coin’s valuation shot up to $876 million, peaking at $899 million. At press time, the market cap had dropped by over $10 million, and was valued at $887 million.



The South Korean exchange, UPbit, took the top spot in terms of IOTA trade volume, accounting for over 27.6 percent of the total volume in the trading pair IOTA/KRW. Other prominent exchanges in the MIOTA market were Binance, Bitfinex, and Huobi Global.

Zeux had previously integrated Qtum [QTUM] on its application, resulting in a whopping 36 percent price hike for the coin.

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76298|World Wire is based on standards developed by SWIFT, says IBM’s Head of Blockchain Solutions

Priya

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IBM's World Wire is based on standards that SWIFT developed, says Head of Blockchain Solutions
Source: Unsplash

Jesse Lund, the Head of Blockchain Solutions and Digital Assets at IBM, spoke about whether there were concerns regarding the functions of World Wire, and the safety of its transactions, in an interview with CNBC. He also spoke about the impact World Wire would have on financial service systems like SWIFT.

Earlier this week, IBM announced the launch of World Wire in collaboration with Stellar. World Wire is a payment system that utilizes the benefits of blockchain technology, the Stellar Network in particular, and cryptocurrency, to settle cross-border payments in real-time. The US Dollar and Stellar Lumens [XLM] would be the currencies used to kick-start the payment network.

In the interview, Lund was asked about the implications Bitcoin would have on their network, considering the recent turn of events associated with the coin. He was also asked whether there were concerns and questions pertaining to the functions of World Wire and the safety of transactions. He said,

“[…] Bitcoin kind of started the momentum of all of this blockchain. And what IBM has been doing, […], is adding security and confidence to the system. So we are building on new idea, which is the ability to store monetary value electronically and to be able to move that value around the world in real-time.”

He further spoke about what made World Wire different, in light of the presence of Western Union and MoneyGram in the same field. He stated that the current cross-border payments system had issues, adding that there were inefficiencies in the way banks communicate and that World Wire was separate from the network.

Lund said,



“[…] Those things are distinct and they require a lot of co-ordination and reconciliation after the fact, that adds, who would call friction, that adds, you know, time complexity, and cost. And so, by having a digital store of value that can move with the payment data, we make the whole process a lot more seamless and a lot more point to point.”

This was followed by Lund speaking about the existing financial systems such as SWIFT. He stated that SWIFT “was a messaging platform”, while what IBM provided “was messaging like SWIFT”. He said,

“We’re based on standards that SWIFT has ultimately developed. Standards that have come out of SWIFT, you know, are inherently part of the platform itself. So, yeah, we’re trying to help banks optimize the way that they service their customers and its becoming more and more global, so money moving cross-broader needs to move more efficiently.”

Further, he was questioned on whether they faced any pushback from banks or whether they were viewed as a threat. Lund strongly disagreed, stating that IBM’s role in Word Wire was “as the network operator” and an infrastructure provider. He said,

“We’re trying to build the foundation on which banks can continue to enhance their businesses and to build new applications that will ultimately affect their customers. So, we’re just trying to make it easier for them to pass along improvements and better user experience for flocks like us.”

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76289|Stellar provides a bridge between private networks and Bitcoin’s open wild-west network, says IBM’s Jesse Lund

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Stellar provides a bridge between private network and Bitcoin's open wild-west network says IBM's Jesse Lund
Source: Pixabay

Stellar and IBM partnership led to the creation of World Wire, a solution for moving money across borders and domestically with less friction.

In the video released by Stellar Development Foundation, Jesse Lund, the head of blockchain solutions at IBM, spoke about the traditional payments rails and how they were archaic and in a dire need of an upgrade. Lund also explained the partnership dynamics between Stellar and IBM that led to the development of World Wire. He also added that Stellar and IBM snatched the opportunity just in time.

Moreover, Lund said that it was faster and efficient to move money through FedEx than traditional payment channels, which was “unacceptable” considering the 2 billion people that still do not have access to payment services. He stated:

“Modern technology hasn’t provided a way to optimize the movement of money around the world…”

Lund continued that it would be easy if all the banks in the world were on a single platform and interconnected with each other, but “that (was) not realistic, not feasible at least not until now”.

He said that if every bank was using a distributed ledger, it would be possible to represent the balances of every bank in one system as every bank would be conceptually interconnected with each other. This would eliminate the “hops” and the “intermediaries”. He added,



“World Wire is a network of networks that is built on top of Stellar protocol, which provides a blockchain protocol that is tailored and tuned for the transfer of value and the store of value through the issuance of many different types of digital assets.”

Moreover, Lund explained:

“We chose stellar because it has thought about scalability it’s rethought the underlying mechanics and some of them are quite complex… the other benefit of Stellar stellar provides an amazingly simple way to issue digital assets which is really paramount to the use and the vision behind the world wire system.”

Lund added that Stellar provided a bridge between a private network and Bitcoin’s open wild-west network. Lund also mentioned that it was possible to create sub-network and enforce certain rules on the participants while not giving up the transparency and the openness of having an open network.

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Analysis

76283|Litecoin [LTC] Price Analysis: Price breakout imminent as bears control silver coin

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Litecoin [LTC] Price Analysis: Bear lurks around the silver token's realm even as another breakout is anticipated
Source: Pixabay

The fourth largest coin on CoinMarketCap, Litecoin [LTC] was trading within the $59- $62 range after a short surge.

At press time, the crypto asset held a market cap of $3.60 billion, and was priced at $59.12. The crypto asset registered a 24-hour trading volume of $1.74 billion. LTC exhibited a decline of 2.32% against the US dollar over the past 24 hours, while a growth rate of 3.98% was recorded over the past seven days.

Coineal contributed the highest trading volume for the coin, accounting for 7.98% via the LTC/BTC trading pair. It was followed by Coinall and DigiFinex with 4.22% and 3,66% of the trading volume, respectively.

1-hour

Source: TradingView

Litecoin’s one-hour chart showed an uptrend from $52.39 to $55.86, and another uptrend from $57.90 to $60.29, fueled by the coin’s recent bull run. A downtrend from $55.82-$34.08 was registered on the chart. The support for the coin was found at $52.39.

Bollinger Bands: The mouth of the bands depicted growing volatility in LTC’s price movement.

Awesome Oscillator: The closing bars of the indicator were red, indicating a bearish price momentum for the crypto asset.

Chaikin Money Flow: The CMF continued to tread above the zero-line, indicating that money was flowing into the LTC coin market. Hence, a bullish price trend was predicted for the coin.

1-day

Source: TradingView

The candlestick arrangement on LTC’s one-day chart exhibited an uptrend from $32.79 to $45.68, and a longer downtrend from $55.82 to $34.08. The immediate resistance for the digital asset was marked at $67.78, while the immediate support stood firmly at $30.55 and at $24.10.

Parabolic SAR: The dotted markers were below the candlesticks, and pictured the coin in a bullish environment.

MACD: Post a bearish crossover, the MACD line was treading below the signal line.

Klinger Oscillator: The KO indicator also sustained a bearish crossover, following which the reading line was below the signal line.



Conclusion

The short-term indicators for Litecoin [LTC] exhibited mixed signals, with significant volatility and potential price breakouts being predicted. The long-term indicators echoed strong bearish projections for the digital crypto’s price.

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76222|Cardano [ADA] Price Analysis: Coin’s price to move upwards in the long term

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Cardano [ADA] Price Analysis: Coin's price to move upwards in the short term
Source: Pixabay

The eleventh largest coin on CoinMarketCap, Cardano [ADA], was trading within the $45 to $54 range during the past week.

At press time, the crypto asset held a market cap of $1.42 billion, and was priced at $0.054. The digital asset registered a 24-hour trading volume of $49.48 million. ADA exhibited a growth of 2.16% against the US dollar over the past 24 hours, while a significant growth rate of 16.01% was recorded over the past seven days.

The Cardano community previously announced the integration of Ledger hardware wallet into the ADA ecosystem in order to address scalability, interoperability, and sustainability issues.

It has also been speculated that Coinbase Pro would add support for ADA, by the end of 2019’s second quarter.

1-hour

Source: TradingView

ADA’s one-hour chart exhibited an uptrend from $0.047 to $0.050, and another uptrend from $0.050 to $0.054, which can be attributed to the aforementioned upgrades. No significant downtrend was observed on the chart, following the bullish recovery last week. The immediate resistance was at $0.055. The support for the coin was found at $0.047.

Bollinger Bands: The mouth of the bands depicted high volatility in the coin’s price

Awesome Oscillator: The closing bars of the indicator were green and suggested bullish price momentum for Cardano.

Chaikin Money Flow: The CMF continued to tread above the zero-line, indicating that money was flowing into the ADA coin market. Hence, a bullish price pattern was pictured for the crypto asset.

1-day

Source: TradingView

The candlestick arrangement on the one-day chart of ADA showed a minor uptrend from $0.029 to $0.043, and a major downtrend from $0.12 to $0.049. The immediate resistance for the digital asset was marked at $0.105, while the immediate support stood firmly at $0.038 and at $0.029.

Parabolic SAR: The dotted markers were below the candlesticks, and indicated that the coin was following a bullish trail.

MACD: The MACD line was above the signal line and depicted a bullish course for Cardano’s price.

Klinger Oscillator: The reading line was also above the signal line for KO, posting a bullish pattern for the crypto coin.



Conclusion

The short-term indicators for Cardano [ADA] exhibited mixed signals with high volatility and possible price breakouts. The long-term indicators, however, projected strong bullish pattern for the coin’s price.

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Analysis

76188|Bitcoin SV [BSV] Price Analysis: Bears dominate market as token’s downtrend continues

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Bitcoin SV [BSV] Price Analysis: Bears dominate market as token’s downtrend continues
Source: Pixabay

Bitcoin SV [BSV] continued its bearish run on the back of the collective market dropping below the $140 billion mark. After two successive bullish waves in the past week, the coin market turned red.

At press time, the BCH hardfork fell against the US dollar by 1.26 percent, and was trading at $65.88. The market cap of the coin stood at $1.16 billion, trailing Cardano [ADA] by over $220 million.

Bitforex took the top spots with respect to BSV trade volume, via the trading pairs BSV/USDT and BSV/BTC. The pairs accounted for 12.28 and 12.17 percent, respectively. Other notable exchanges on the list were HitBTC, IDAX, and IDCM.

1-hour

Source: Trading View

The one-hour BSV chart showed a massive downtrend stretching from $68.71 to $66.32, with the coin dropping further below. The sole uptrend was prior to this drop when the coin rose from $67.71 to $68.71.

Bitcoin SV found immediate support at $64.55, which the coin was hovering above. The immediate resistance level stood at $68.77.

The Bollinger Bands pointed to a massive increase in volatility as the price declined. The Moving Average line indicated a bearish swing.

The Chaikin Money Flow tool showed a decrease in the money inflow to BSV tokens as the CMF line was below 0.

The Awesome Oscillator showed a significant decrease in short term market momentum, but the concluding bars being green indicated an imminent bullish change.

1-day

Source: Trading View

Bitcoin SV saw two downtrends, with the first downtrend shaving the price from $75.71 to $67.15. The second downtrend pulled the price down from $70.39 to $67.65.

The coin found immediate support at $61.72, which the coin touched in February. Bitcoin SV’s immediate resistance level stood at $75.65.

The Parabolic SAR indicated a bearish market, as the dotted lines were above the coin’s trend line.

The Relative Strength Index showed a notable decrease in investor interest as the RSI dropped down from 55.65 to 46.38, at press time.

The MACD continued projecting bearish signs as the MACD line pushed below the Signal line.



Conclusion

Bitcoin SV failed to hold on to the bulls as the coin’s price declined below the $70 mark. In the short term, the coin’s volatility was high, while the money inflow dropped. Short-term momentum was negative, further pointing to the resoluteness of the bears. In the long-term, the MACD and the Parabolic SAR indicated a bearish market.

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