Following the Coinbase Exchange crash of 26 June '19 that coincides with the recent Bitcoin price drop, the number one cryptocurrency by market capitalization has retraced its gains by about 28% from last month’s high.
The BTC generally shows strength against other altcoins as Facebook's Libra draw in massive mainstream adoption.
Peter Schiff HODLs Bitcoin
Gold bug expert and a Skeptic of Bitcoin BTC Peter Schiff who is known to warn investors from trusting Bitcoin as an alternative to gold recently accepted a donation worth 1,350.00 USD from the Bitcoin community on 04 July '19, following a debate on Twitter with Anthony Pompliano, co-founder of Morgan Creek Digital.
The statement Schiff made to HODL his gifted Bitcoin proves he's not entirely an anti-Bitcoin.
Following a signaled bullish accumulation pattern on 17 June '19, the BTCUSD entered the overbought territory on 21 June '19 and soared for about 34.3%.
While in overbought territory, the BTCUSD signaled a double bullish accumulation pattern on 24 June '19 which resulted in the price spike on 26 June '19 (13764.0 USD).
The dual bullish support of (11136.0 USD) on 24 June '19 has become a critical pivot that holds the price from crashing further south as the price has not yet closed below this level.
A hidden bullish divergence pattern (02 July '19) is signaled to reinforce a continuation of the bullish trend.
Ethereum 2.0 Researcher says a reduction of Ether issuance by Ten-Fold is in view come 2021
Trustenode, a news outlet focused on technology in an 05 July news reported an Ethereum 2.0 researcher Justin Drake, who said that the issuance of Ethereum ETH might decrease by ten-fold in 2021.
He emphasized a couple of non-technical issues that are harder to predict, which include the speed of getting to 2 million ETH (65000 validators) to launch the beacon chain, the move of eth1 governance with the 2-hard forks.
Full sharding was estimated by Ethereum developers to fall around the year 2021, with a few years as a buffer for the ecosystem to completely discard proof of work.
Drake, during a bi-weekly call of Etherum core developers in June '19, said that the transition to Ethereum 2.0 should take place on 03 January 2020. Also on 28 June, an increase in the daily transactions on the Ethereum network exceeded a million, a first since May '18, and not forgetting an increase in the volume of Ethereum on DApps in April '19 (776,000 ETH).
The price of Ether ETH also broke out of a bearish expanding channel signaled by opposite bearish and bullish divergence setups on 01 July '19 19:00 and 02 July '19 02:00, forming resistance and support at 299.03 USD and 277.17 USD respectively.
After a breakdown of bullish accumulation on 03 July '19 21:00 with resistance established at 303.40 USD, the ETH price slumped by about 6.1% into the oversold territory before exiting on 04 July '19 19:00 (280.25).
The Ether ETH price at press time trades at 285.74 USD after a high of 298.87 on 06 July '19.
Coming from a 1hour time frame, the LTCUSD signaled a regular bullish divergence pattern on 02 July '19 02:00, with support set at 112.67 USD.
The bullish divergence started an upbeat swing that was opposed by bearish divergence on 02 July '19 21:00.
It's been an upward rollercoaster from that point onward as the XMRUSD finally established support from a breakout of bearish accumulation on 05 July '19 04:00,19:00; and 06 July '19 09:00.
Monero: Bug that allows stealing XMR from Exchanges disclosed by Developers
According to reports from HackerOne on 03 July, the developer team at Monero have disclosed a bug that could have been used to steal Monero XMR from exchanges.
The bug made it possible for an attacker to send fake XMR to exchanges, and have it converted into other cryptos for withdrawal.
The developers that found and fixed the bug received a 45 XMR bounty.
Earlier in April, a bug fix was made related to the Ledger hardware wallet that suggested disappeared funds.
Monero XMR is currently ranked number 14 cryptocurrency by market capitalization, according to coinmarketcap.com.
XMRUSD: Daily Chart
A formation of hidden bullish divergence on 04 & 10 June '19 fueled an approximate 42.4% price increase before an opposite breakdown of bullish accumulation brought the move to an end on 25 June '19 for about 25.9% bearish price drop.
Recently, another hidden bullish divergence pattern was signaled on 01 July '19, bringing the XMR price to a daily high of 98.701 USD on 06 July '19.
DOGECOIN listed on Binance
Currently ranked the twenty-sixth cryptocurrency by market capitalization, Dogecoin is listed on Binance exchange in an 05 July post on Binance website.
The exchange announced the listing of Dogecoin, which consequently saw the DOGE price increase by about 30%. The pairs to be traded on the Binance exchange include DOGEUSD, DOGEBTC, DOGEBNB, DOGEUSDC, and DOGEPAX, as traders can now depositing their Dogecoin for trading.
Coinbase exchange, earlier in May supported Dogecoin on Coinbase Wallet, the crypto wallet service.
Dogecoin (Doge) from a daily time frame signaled a breakout of bearish accumulation as confirmation of a hidden bullish divergence setup on 03 May '19, and establishing support at 0.00233293, after a bullish trend correction from a combination of double bearish collection and breakdown of bullish accumulation on 07 and 08 April '19.
Subsequent break of selling resistance setups was signaled on 28 May '19 and 17 June '19 as illustrated on the above chart.
The recent listing of Dogecoin on Binance 05 July '19 forced the price to break out of a double bearish accumulation pattern that was earlier signaled on 02 July '19.
In total, the Doge price increased by 94.2% from the hidden bullish divergence on 01 May '19.
From a technical standpoint, the formation of a hidden bullish divergence across the daily charts of the above-analyzed cryptocurrencies is a clear pointer of a continuation of the bullish trend of the total cryptocurrency market capitalization. We look out for further rejection of bearish accumulation resistance on the way up, to scale into the bullish trend.
However, the Bitcoin BTC continues to dominate the altcoins which in a way aligns with the thoughts of Peter Brandt, founder of Factor LLC who compares alternative coins (altcoins) to the dot-com bubble in his tweet towards June ending.
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