📌 Libra's primary value proposition is a stable coin that is scalable.
Seems like their competitor is Tether or Ripple, but..
Here’s the thing: they are not competing with any of them, because Tether is the US dollar, and XRP is not stable (it has its own price discovery on exchanges).
👉 They are competing with IMF special drawing rights (SDR). It’s closest thing to it.
The only difference between the Facebook basket stabilized coin and the IMF version is that Libra is supposedly private money and SDR is supposedly public money. It would be nice in a world where there is one public money (like SDR), and one private money (like Facebook token with 100 other companies invested in that token).
❗️What we do not definitely need is Google’s money to compete Facebook’s money to compete with Amazon’s money. If you are a globalist, you would like those private companies to kinda merge together and give the world a single private money. And then you want the world’s governments to get together and give the world a single public money.
We need another cryptocurrency the way we need another language in the world (we don’t need it).
Seems like their competitor is Tether or Ripple, but..
Here’s the thing: they are not competing with any of them, because Tether is the US dollar, and XRP is not stable (it has its own price discovery on exchanges).
👉 They are competing with IMF special drawing rights (SDR). It’s closest thing to it.
The only difference between the Facebook basket stabilized coin and the IMF version is that Libra is supposedly private money and SDR is supposedly public money. It would be nice in a world where there is one public money (like SDR), and one private money (like Facebook token with 100 other companies invested in that token).
❗️What we do not definitely need is Google’s money to compete Facebook’s money to compete with Amazon’s money. If you are a globalist, you would like those private companies to kinda merge together and give the world a single private money. And then you want the world’s governments to get together and give the world a single public money.
We need another cryptocurrency the way we need another language in the world (we don’t need it).
📄 In the whitepaper they are very tricky with their verbiage.
They say Libra is a blockchain. Permissioned blockchain.
⚠️ Being a permissioned blockchain is completely nonsensical. If you are a blockchain, there’s nobody that’s granting you a permission to run a node!
They also say that you can’t scale with a permissionless network, -> so they decide just to skip everything that gives blockchain value in order to be able to scale and be stable.
At the first glance, would say they don’t know what Bitcoin is and haven’t read its white paper. But it’s not that simple. Seems like they are just completely ignorant of Bitcoin and what is happening in that ecosystem.
Why? Because they are trying to be very nuanced. They actually perfectly know what Bitcoin is and that it can do better what they are saying, but there’s no way to control it. Bitcoin is the only thing that SEC & big banking organizations can’t reach.
This could be a pretty lucrative project in payment processing network, which is not a blockchain.
📌 The whole thing which makes a blockchain is proof-of-work. Otherwise it’s just a database.
[ So what Facebook is building is a centralized payment processor on the US dollar and calling it a blockchain ]
It is neither technological nor economical innovative.
They say Libra is a blockchain. Permissioned blockchain.
⚠️ Being a permissioned blockchain is completely nonsensical. If you are a blockchain, there’s nobody that’s granting you a permission to run a node!
They also say that you can’t scale with a permissionless network, -> so they decide just to skip everything that gives blockchain value in order to be able to scale and be stable.
At the first glance, would say they don’t know what Bitcoin is and haven’t read its white paper. But it’s not that simple. Seems like they are just completely ignorant of Bitcoin and what is happening in that ecosystem.
Why? Because they are trying to be very nuanced. They actually perfectly know what Bitcoin is and that it can do better what they are saying, but there’s no way to control it. Bitcoin is the only thing that SEC & big banking organizations can’t reach.
This could be a pretty lucrative project in payment processing network, which is not a blockchain.
📌 The whole thing which makes a blockchain is proof-of-work. Otherwise it’s just a database.
[ So what Facebook is building is a centralized payment processor on the US dollar and calling it a blockchain ]
It is neither technological nor economical innovative.
🎯 Libra whitepaper is a hodgepodge of contradictions and buzzwords.
Facebook owns your data and now they want your money.
They are trying to create a total government coin, which is perfect for spying, censoring, controlling and can be inflated at will.
Libra is:
- Regulated
- Centralized
- Closed
- Permissioned
If you were a central bank or IMF, this is how you would design a coin.
⚠️ Do not underestimate Facebook's attempt to create a Global Coin, because they are going to offer an easy access to finance (as to a FB account) and that's huge (especially for the third world).
It can kill Western Union and other remittance companies.
Maybe one of their goals is to prevent the expansion of WeChat (especially WeChat Pay) in the west.
Libra also may be an attempt to distract the masses from Bitcoin, but it will do the opposite: Facebook is going to draw billions of people's attention to crypto, and when those people discover Bitcoin as a better alternative, a lot of money will flow into it.
Facebook owns your data and now they want your money.
They are trying to create a total government coin, which is perfect for spying, censoring, controlling and can be inflated at will.
Libra is:
- Regulated
- Centralized
- Closed
- Permissioned
If you were a central bank or IMF, this is how you would design a coin.
⚠️ Do not underestimate Facebook's attempt to create a Global Coin, because they are going to offer an easy access to finance (as to a FB account) and that's huge (especially for the third world).
It can kill Western Union and other remittance companies.
Maybe one of their goals is to prevent the expansion of WeChat (especially WeChat Pay) in the west.
Libra also may be an attempt to distract the masses from Bitcoin, but it will do the opposite: Facebook is going to draw billions of people's attention to crypto, and when those people discover Bitcoin as a better alternative, a lot of money will flow into it.
CryptoBullet
Check out our #BTC update! ❗️Don't forget to subscribe to our Trading View profile. https://www.tradingview.com/chart/BTCUSD/e6EdgBvz-BTC-What-s-Next/
🔥🚀 BTC IS ABOVE 10K! For the first time in 16 months!
Did you follow our BTC analysis? It's working out perfectly again. Once we broke above 0.382 Fib, we blow through 10k easily & managed to reach almost 11k! Just like we anticipated.
💡What's next? It's almost open air to the upside to 0.618 Fib at 13.5k
Did you follow our BTC analysis? It's working out perfectly again. Once we broke above 0.382 Fib, we blow through 10k easily & managed to reach almost 11k! Just like we anticipated.
💡What's next? It's almost open air to the upside to 0.618 Fib at 13.5k
Check out our #BTC update!
❗️Don't forget to subscribe to our Trading View profile & hit the like button. We would appreciate it.
https://www.tradingview.com/chart/BTCUSD/JQ7O2TVY-BTC-Update/
❗️Don't forget to subscribe to our Trading View profile & hit the like button. We would appreciate it.
https://www.tradingview.com/chart/BTCUSD/JQ7O2TVY-BTC-Update/
TradingView
BTC Update for BITSTAMP:BTCUSD by CryptoBullet
The weekly chart closed very strong. Like we said in previous BTC analysis, after breaking that 0.382 Fib at 9400,
we skyrocketed to the area we pointed with the arrow.
Why that area is so important? It's a strong horizontal level of resistance + 0.5 Fib.…
we skyrocketed to the area we pointed with the arrow.
Why that area is so important? It's a strong horizontal level of resistance + 0.5 Fib.…
CryptoBullet
Check out our #BTC update! ❗️Don't forget to subscribe to our Trading View profile & hit the like button. We would appreciate it. https://www.tradingview.com/chart/BTCUSD/JQ7O2TVY-BTC-Update/
🔥🚀 BTC almost reached 13k !
Our yesterday analysis posted here for free is working out just perfect!
👉 Once we broke 0.5 Fib at ~ 11 500, we rallied $1.5k to the upside. Hope you followed our analysis and made some profit.
Our yesterday analysis posted here for free is working out just perfect!
👉 Once we broke 0.5 Fib at ~ 11 500, we rallied $1.5k to the upside. Hope you followed our analysis and made some profit.
CryptoBullet
Check out our #BTC update! ❗️Don't forget to subscribe to our Trading View profile & hit the like button. We would appreciate it. https://www.tradingview.com/chart/BTCUSD/JQ7O2TVY-BTC-Update/
🔥 BTC has just got to our target that we pointed out in our analysis - 0.618 Fib at ~13400 and trying to break it!
⚠️ It's the last major resistance! Pay very close attention to the daily close.
⚠️ It's the last major resistance! Pay very close attention to the daily close.
⚠️ This is also something pay attention to:
👉 CME half yearly futures expire on Jun 28
This week is remarkable not only because of that fact, but also because it’s the last week of the quarter & half year.
Half yearly closing for crypto venture capital funds is very important.
📉📈 Expect some fireworks and unusual moves starting tomorrow.
👉 CME half yearly futures expire on Jun 28
This week is remarkable not only because of that fact, but also because it’s the last week of the quarter & half year.
Half yearly closing for crypto venture capital funds is very important.
📉📈 Expect some fireworks and unusual moves starting tomorrow.
#BTC
📉 BTC got a very violent rejection at 0.618 Fib (which was our target). Also we anticipated a drop from those levels and that 25% drop within a single weekly candle was not surprising.
So, what we are keeping an eye on is this weekly close. It will determine a lot. There's nothing we can say about the current candle until it closes. This candle could end as a reversal one but as of right now it's not.
📌 Closing above 11.5k (0.5 Fib) and especially 12k will lead us back up.
📉 BTC got a very violent rejection at 0.618 Fib (which was our target). Also we anticipated a drop from those levels and that 25% drop within a single weekly candle was not surprising.
So, what we are keeping an eye on is this weekly close. It will determine a lot. There's nothing we can say about the current candle until it closes. This candle could end as a reversal one but as of right now it's not.
📌 Closing above 11.5k (0.5 Fib) and especially 12k will lead us back up.
Check out our #BTC analysis!
❗️Don't forget to subscribe to our Trading View profile & hit the like button. We would appreciate it.
https://www.tradingview.com/chart/BTCUSD/JtvF1R7t-BTC-a-50-drop-on-the-cards/
❗️Don't forget to subscribe to our Trading View profile & hit the like button. We would appreciate it.
https://www.tradingview.com/chart/BTCUSD/JtvF1R7t-BTC-a-50-drop-on-the-cards/
TradingView
BTC: a 50% drop on the cards for BITSTAMP:BTCUSD by CryptoBullet
The weekly candle closed as a classic reversal candle with long upper wick & very little lower wick
on an extremely high volume. The shape of that candle is not good at all and signals buyer exhaustion.
Look at that wick. Have you ever seen such a long…
on an extremely high volume. The shape of that candle is not good at all and signals buyer exhaustion.
Look at that wick. Have you ever seen such a long…
📊 "buy bitcoin" is ranking on Google Trends lower than we were back in May of 2017.
We are above $10k and people care about it less than they did back when it was $1k over two years ago. Public mania is not yet here.
💡The price has risen and nobody cares. So, that was internal money pumping the price.
We are above $10k and people care about it less than they did back when it was $1k over two years ago. Public mania is not yet here.
💡The price has risen and nobody cares. So, that was internal money pumping the price.
💡Here's something interesting on the quarterly chart of Bitcoin
Quarterly chart pointed out the crucial area of resistance for this rally just perfectly. Look at the close of that big green candle during the 2017 bull run. Unbelievable that it's the same number we got rejected last week at. ⚠️That's more than just a coincidence.
[ On the monthly we got the same level of resistance by the way ]
🎯 Conclusion: higher time frames closes are extremely important. The next area of support based on the closings is 6600
Quarterly chart pointed out the crucial area of resistance for this rally just perfectly. Look at the close of that big green candle during the 2017 bull run. Unbelievable that it's the same number we got rejected last week at. ⚠️That's more than just a coincidence.
[ On the monthly we got the same level of resistance by the way ]
🎯 Conclusion: higher time frames closes are extremely important. The next area of support based on the closings is 6600
CryptoBullet
Check out our #BTC analysis! ❗️Don't forget to subscribe to our Trading View profile & hit the like button. We would appreciate it. https://www.tradingview.com/chart/BTCUSD/JtvF1R7t-BTC-a-50-drop-on-the-cards/
📉 So, BTC went sub 10k and almost reached our first target marked with an arrow at 0.382 Fib and bounced off.
BTC weekly chart is quite hilarious with those wicks.
On Monday BTC looked like a disaster, but because of a swift rebound forming that long lower wick it doesn't look so bad anymore.
👉 This week is negating previous weekly reversal candle right now, but technically we need to get above that huge upper wick.
🐂 Technical picture turns bullish assuming that we will close the week at current price. We really need to close above that 0.5 Fib (11.5k)
BTC weekly chart is quite hilarious with those wicks.
On Monday BTC looked like a disaster, but because of a swift rebound forming that long lower wick it doesn't look so bad anymore.
👉 This week is negating previous weekly reversal candle right now, but technically we need to get above that huge upper wick.
🐂 Technical picture turns bullish assuming that we will close the week at current price. We really need to close above that 0.5 Fib (11.5k)
BTC 4h
⚠️The most important thing here is this Major Resistance Zone. The area between 12 100 and 12 400 is very critical.
📈Breaking and closing above it is very bullish.
📉Failure to do that can lead us to 200EMA
⚠️The most important thing here is this Major Resistance Zone. The area between 12 100 and 12 400 is very critical.
📈Breaking and closing above it is very bullish.
📉Failure to do that can lead us to 200EMA
CryptoBullet
Is this chart bullish or bearish ?
Thanks for voting.
Actually this chart is not just bullish, it's super bullish. But here is the thing: it's ETH/BTC inverted chart❗️
Actually this chart is not just bullish, it's super bullish. But here is the thing: it's ETH/BTC inverted chart❗️
ETH/BTC looks horrendous
We are sitting on a Multi Year Support. That range 0.024-0.026 has been a very impressive support since Dec. 2017: it bounced the price in Dec. 2017 amazingly strong, it held the price in Dec. 2018 and it's the fourth time this year we are dipping into it. Looks like this major support is going to break 📉
[ If the support gets touched for the third or the fourth time, it becomes a level that is going to break. Yes, it may bounce the price again, but the probability of that happening is 10% ]
⚠️ We are about to get a brand new weekly close and it's gonna be the lowest weekly close since March 2017 and that is extremely bearish.
We are sitting on a Multi Year Support. That range 0.024-0.026 has been a very impressive support since Dec. 2017: it bounced the price in Dec. 2017 amazingly strong, it held the price in Dec. 2018 and it's the fourth time this year we are dipping into it. Looks like this major support is going to break 📉
[ If the support gets touched for the third or the fourth time, it becomes a level that is going to break. Yes, it may bounce the price again, but the probability of that happening is 10% ]
⚠️ We are about to get a brand new weekly close and it's gonna be the lowest weekly close since March 2017 and that is extremely bearish.
CryptoBullet
BTC dominance #update
Super interesting chart: BTC dominance
Creating higher highs and higher lows and it is not out of the question to think it will get back to 90% territory. But that's not coming very soon.
👉 2017 was the year of alts. Bitcoin market cap dominance decreased from 94% down to 36% and then it stuck in the range below 60% for all 2018.💡Dare to presume that 2019-2020 is mostly Bitcoin time as we are leading into the halving.
⚠️Alts are gonna have very tough times surviving a Bitcoin halving, but this isn't doom for altcoins. We will see some alt parties while struggling at resistance areas for BTC dominance.
📌 Back in May we published a chart with two possible areas of rejection for BTC dominance. Our analysis worked out perfectly: we got rejected at Area of Rejection No.1, and after that we broke through it in late June. Now we are heading towards Area of Rejection No.2 (70-73%).
Bitcoin's dominance hasn't been above 70% since July 2017 & we see this as a definite resistance area.
🎯 Area of Rejection No.2 is a strong horizontal level + MA200 coming there + it's the final target of the bullish flag.
Creating higher highs and higher lows and it is not out of the question to think it will get back to 90% territory. But that's not coming very soon.
👉 2017 was the year of alts. Bitcoin market cap dominance decreased from 94% down to 36% and then it stuck in the range below 60% for all 2018.💡Dare to presume that 2019-2020 is mostly Bitcoin time as we are leading into the halving.
⚠️Alts are gonna have very tough times surviving a Bitcoin halving, but this isn't doom for altcoins. We will see some alt parties while struggling at resistance areas for BTC dominance.
📌 Back in May we published a chart with two possible areas of rejection for BTC dominance. Our analysis worked out perfectly: we got rejected at Area of Rejection No.1, and after that we broke through it in late June. Now we are heading towards Area of Rejection No.2 (70-73%).
Bitcoin's dominance hasn't been above 70% since July 2017 & we see this as a definite resistance area.
🎯 Area of Rejection No.2 is a strong horizontal level + MA200 coming there + it's the final target of the bullish flag.
🎯 Notice how close we got to testing the Major Resistance Zone and reversed right before it. That is a very interesting sign.
👉 Also pay attention to how important that level market with the dashed line has been. We were foreseeing it act as a nice support and it did it.
⌛️Wait for either breaking above 12150 or going below that support at 10770
👉 Also pay attention to how important that level market with the dashed line has been. We were foreseeing it act as a nice support and it did it.
⌛️Wait for either breaking above 12150 or going below that support at 10770