Transitioning from bitcoin depression to disbelief to opportunity
Based on market cycle psychology, depression is the state where people have lost all hope in the market. They believe that the downtrend is a bottomless pit and the market will never again reach its former glory. This discourages everyday investors from entering the market when in fact, this is the point of maximum financial opportunity. Time and time again, markets bottom out when ordinary people have abandoned them.
This is exactly what we’re seeing in Bitcoin (BTC/USD). The hype that surrounded the cryptocurrency almost a year ago is completely gone. The interest over time, when looking at google trends, is at its lowest in 12 months. More importantly, many people believe that it can go significantly lower.
Current market sentiment maybe depressive but the charts show that the end is almost near. In this article, we show how Bitcoin may be transitioning from depression to disbelief.
A Comparison of Market Cycle Psychology Chart and Bitcoin Chart
Disbelief is the state where the market shows signs of life but participants ignore them. They do so because they think that the downtrend is not yet over and the rally is just another pump and dump scheme to slaughter newbies.
We believe Bitcoin is getting ready to make you a non-believer. To understand why we have this point of view, allow us to first show you the market cycle psychology chart.
Disbelief comes after a boring and depressed market. If you’ve been following Bitcoin’s price action since September, you’d know that the past few months have been the longest. Volatility has been almost non-existent. There were times when Bitcoin traded within a $10 range. At that point, we knew that Bitcoin was in a state of depression.
If you’re skeptical, the next chart should help alleviate your concerns.
Bitcoin daily chart over market cycle psychology chart
We overlayed the Bitcoin daily chart on top of the market cycle psychology chart and we have an almost perfect representation of market sentiment over the last twelve months.
Currently, the market is so depressed that...
The power of Imusify (IMU) : #TokenSale
Imusify (IMU) Token Sale
The imusify platform integrates the best practices of crowdfunding, streaming, media sharing and social networks. Imusify creates an ecosystem in which the artist, fans and other stakeholders can directly interact with one another within a decentralized marketplace, governed by smart contracts. Imusify’s mission is to provide an open-source innovation space for developing new means of music distribution, consumption and engagement.
The ultimate vision of imusify is to create an international borderless ecosystem in which fans can...
Israel Securities Authority (ISA) turns to blockchain for messaging system cybersecurity
The Israel Securities Authority (ISA) has started to use blockchain to improve the cybersecurity of its messaging system, online newspaper Times of Israel reports today, October 3.
The government regulator has reportedly embedded the technology into a system dubbed “Yael,” used to deliver messages and other information to entities that fall under ISA oversight.
The ISA has further plans to implement blockchain in two other systems, including an online voting system that enables investors to participate in ISA meetings remotely, and a system called ‘Magna” that stores all the reports filed by ISA-regulated entities. The blockchain solution used by ISA was reportedly developed by IT firm Taldor, according to the Times of Israel.
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More than just an interoperability project – AION – FastVM Blockchain
In the Crusher of the Month series, we will write about a coin/token that we have the most conviction in each month. The time frame will be around 1 month, or until we publish the next Crusher of the Month. In October 2018, our Crusher of the Month is AION.
More Than Just an Interoperability Project
Most people know AION as a project focusing on interoperability, but the AION team is also hard at work to make sure the AION root chain will have usage.
In addition to create new blockchains, monetize inter-chain bridges, run cross-chain decentralized applications, AION coins are also the fuel used to secure the overall network. We believe that the market is discounting the potential usage the AION blockchain will have for running decentralized applications (dApps) and smart contracts.
AION has built a lot of tools for developers to build on the AION blockchain. After token swap is completed in November 2018, developers can deploy smart contract or migrate dApps from Ethereum to the AION root chain. CEO of AION, Matthew Spoke, mentioned that it is a 5-minute effort to port existing Ethereum dApps to AION.
The Aion FastVM is a modified Ethereum Virtual Machine (EVM), and Aion virtual machine (AVM) is a performant, lightweight, and stable virtual machine that leverages key characteristics of the Java Virtual Machine. Solidity apps will be supported, but there will also be a new option for running apps in a Java language.
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5 Things Needed for the Mass Adoption of Bitcoin
It’s been ten years since Satoshi Nakamoto published the Bitcoin White Paper and introduced cryptocurrencies to the world. His radical vision of a decentralized peer-to-peer electronic cash system was groundbreaking, as it sought to rebuild the structures that upheld our global financial institutions. A decade on, the cryptocurrencies market is now worth $209 billion globally, and there are more than a thousand separate tokens in circulation.
[Note: This is a guest op-ed article submitted by Samuel Leach, Founder of Yield Coin]
Despite this success, Nakamoto’s vision is yet to be fully realized. Although “cryptos” and associated phrases have entered the popular language, and awareness of them is at an all-time high, uptake has been restricted to a narrow subset of society.
Bloomberg estimates that around a thousand users own approximately 40 percent of all bitcoin currently in circulation and cryptos have failed to supplant fiat currency. Before we see the mass adoption of cryptocurrencies, there are a number of obstacles that first need to be overcome.
While regulation is often treated as a pariah among many in the crypto community, if executed properly, it will bring beneficial change for all. Cryptocurrencies have only been in existence for a relatively short amount of time meaning many governments are still figuring out the best way to regulate them. The result of this has been a crypto market structured in a laissez-faire fashion. While it can be argued that this has fostered further innovation, it has undoubtedly led to several negative side effects.
At present, anyone could set-up a new cryptocurrency and raise significant capital without having to face repercussions if they fail to implement their plans. This has reduced overall confidence in the market, as it can be difficult to differentiate legitimate projects from nefarious ones. This is also preventing many institutional investors from entering the market, as the lack of regulatory guidelines will lead to compliance issues on their part.
A daily price swing of 10-20 percent is not uncommon among most cryptos, making them exceptionally volatile in comparison to fiat currencies; in comparison, the pound lost 4 percent of its value against the dollar on the infamous Black Wednesday. Finding a way to temper this instability would go some...
FCC Chairman Aijt Pai addresses blockchain regulations
, Aijt Pai, U.S. FCC Chair stated.
Blockchain regulation is one of the major developments going on in the tech industry now. The distributed ledger technology has been touted by many to be the savior to tracking of records, supply chains, voting, retailing, travel and a whole lot more. But for the tech to go fully functional in some places, there have to be ground rules to regulate how the tech can be used or not used.
The government agency that is responsible for the regulation of radio, television, wire, satellite, and cable – the chair of the Federal Communications Commission (FCC) – voiced to the Indian Express that it might be essential to grow the realm of the telecom regulator (FCC) to include the evolving tech.
“So one of the challenges is to figure out how we find a level-playing field that promotes investment and innovations for all these firms without disadvantaging any one of them. The second issue is that these are very dynamic industries and one can foresee in coming decades – things like artificial intelligence, machine learning, blockchain, quantum computing will have significant impact on how communications networks...
Central Bank of Japan says issued digital currencies are not effective economic tools
The Bank of Japan’s (BOJ) deputy governor Masayoshi Amamiya has recently reiterated his negative stance towards central bank-issued digital currencies (CBDC), the New York Times reports Oct. 20.
Speaking on Saturday at a meeting in Nagoya, central Japan, Amamiya expressed doubts about the use of CBDCs, claiming that such digital currencies are unlikely to improve the existing monetary systems. Amamiya also stated that the BOJ does not plan to issue digital currencies.
The article reports that some financial experts consider a CBDC as a tool for central banks to control the economy once interest rates fall to zero. According to this theory, a CBDC would enable central banks to stimulate the economy by charging more interest on deposits from individuals and firms, which would in turn induce them to spend more money.
Amamiya has questioned that theory, claiming that charging interest on central banks-issued currencies...
The Importance Of Video Marketing For ICOs
Let’s start with a simple question. What do you think your clients prefer to do: read a book or watch the movie?
Content creation is the king tool to attract traffic to a website. But what still seems to be unclear is that the king already has a queen: the video.The relationship between content and video has been forged little by little where it is more than obvious that the generation of content is increasingly maintaining a close relationship with video and this relationship is so popular for users that audiovisual material already accounts for 78% of the content that users consume weekly. This is something that ICOs cannot ignore.
Most of the successful projects that have been funded via ICOs have explanatory videos where they highlight the value proposition of their project, show interviews with their members and detail ways of using the platform and tokenomics. These descriptions are framed in a one-minute video like an ‘elevator pitch’, although videos of longer duration can also be made for users who want to delve into specific topics of the project.Video marketing advantages:
Easy to consume: watching a video does not require as much effort by the user, just a simple click and play. Video content is more entertaining than reading text and attracts the user’s attention for much longer.
Easy distribution: currently there are easily accessible channels...
Why BCIO Is Not Just Another Utility Token
2019 will be a decisive year for the Blockchain industry as the world moves towards a friendlier Crypto environment with governments such as Korea, Singapore, and Switzerland paving the way for appropriate regulatory measures. Likewise, France is aiming to become a blockchain hub for entrepreneurs and investors alike, with a 30% flat tax regime possibly in the works. Blockchain.io aims to become the new European cryptocurrency exchange of trust for individual and institutional investors alike. At the center of the Internet of Value, we provide users with an augmented trading experience in a thriving ecosystem.
A new wave and generation of tokens is upon us, and Blockchain.io intends to be a leading player in this field. As such, we have conceived the BCIO token to do just that, and more importantly, we envisioned and conceptualized it as a pipeline to the Internet of Value. For the first time, transactions can be performed without any counterparty risk, which is a crucial advancement as well as a guarantee of safety. This brings us to the essence of CEO Pierre Noizat’s vision of digital assets as a platform for applications, as well as a marketing mechanism.
Proprietary exchange tokens are still fairly uncommon in the cryptosphere, even though a handful of major platforms...
Vitalik Buterin “Ethereum will eventually be able to process $1m transactions per second”
In a recent OmiseGO AMA session, Ethereum founder Vitalik Buterin announced that soon the Ethereum network would be able to process one million transactions per second, with Sharding and Plasma technology playing a vital role.
This advancement in the scalability issues of blockchain based technologies has been something which Buterin has long discussed. Whilst these decentralized networks have the potential to become a part of the everyday world, they are limited by the capacity of transactions per second.
The Ethereum blockchain at the moment can “processes around 15 transactions per second” Buterin stated in the conversation. Whilst this is far more advanced than the capability of Bitcoin, for example, the capability of Ethereum is far smaller than “PayPal, VISA and the major stock exchanges which go up to about 80,000 transactions per second” according to Buterin.
Whilst Buterin knows too well that the current level of transactions processed by the Ethereum blockchain is high for the platform and industry, he also knows that the scalability of Ethereum has some major issues.
The layer one property improvements that Sharding can address in these scalability issues allows the blockchain to process these transactions a lot...