Connect with us

Ethereum

Still holding ETH? Get ready for the real ICO Selloff

Published

on

The crypto markets are under the “red” area. Most cryptocurrencies have experienced greater than 10% decline, and ETH tops the list with a whopping 29% decline in the last week, as reported by CoinGecko.

 

 

Many crypto pundits believe that Bitcoin Cash Hash War led to the entire crypto market decline and it is a nightmare for ICOs that hold a majority part of ETH.

 

DigixDAO, Golem, Polkadot, Status, Filecoin and more

DigixDAO still holds about 400,000 ETH, Golem about 370,000 ETH, Polkadot holds 306,000 ETH, Status holds about 250,000 ETH, Filecoin holds 240,000 ETH, and many more ICO holds a significant stake of ETH.

It is evident that ICO projects will dump their holdings to liquidate to USD to run their projectsplans, the question is when? We saw a major ICO selloff in the previous months, and it is believed that the current ICO selloff (when it happens) will be ten times more powerful, ultimately bringing ETH to a value less $50.

Check out this public google doc that gives detailed information about all ICO holdings: ICO Holdings Doc

 

3,744,651 ETH is on stake for a MAJOR Selloff

Looking at the google doc for ICO holdings, the top 58 ICOs alone hold 3,744,651 ETH today. A selloff is expected soon from these projects. The steep losses are visible in the daily chart of ETH/USD.

 

Ethereum price is trading in a bear breakout pattern and what we have seen in the last two days might only be a glimpse of what is coming soon.

 

Major Trend: Strong Bearish

Support Areas: $130, $98, $53

 

If you have more information on ETH selloff or a different opinion, comment below.

#Bitcoin

Bitcoin Price: How Investor Emotions Affect Crypto Prices

Published

on

Bitcoin Price: The reason we see such a massive slump in cryptos this year can be attributed to the emotions investors felt when they lost.

It is always easy to confuse the way trading works these days. After so much digitalization some people think that the trades mostly happen through logic, algorithms and so on. However, this is not necessarily the case. One of the most significant factors about trading is the human emotions that come with it.

Try to imagine it. You’ve just made a trade and bought some Bitcoin. Now you see that the price is decreasing rapidly, so naturally, you get the sensation that it is time to sell it, but all of the advice on the internet is telling you to hold and wait. This is where the first problem is met as human emotions are starting to battle logic and hard decisions.

You may find it hard to believe if you’ve traded on other financial markets but these human emotions can have a toll on crypto prices. On other markets its very hard for these emotions to have a significant impact, because of how big the market is. But for cryptos, the market is very small, so a select few investors could make some change in the market if they buy or sell prematurely. Let’s look into the main reasons why people face emotional, moral and psychological barriers when trading cryptos.

 

One Primary Example

Back in 2013, Bitcoin was sitting comfortably on the $1,200 mark. But it fell 50% when the Chinese national bank announced it would ban it in its systems. Everybody back then thought it would be a killing blow to cryptos, but as you can see it was not even a scratch.

This wasn’t logic affecting the price, and it was human emotions. Investors panicked and sold their assets immediately fearing that they were now obsolete when there were millions of people and thousands of exchanges in the world still accepting them. Don’t take the info at face value, do the research, listen to the experts and find out how dangerous it is before making any significant decision. You’ll need to do this quickly, however, as the panic spreads quite fast.

 

Moral Problems

Cryptos and morals aren’t the first things you’d imagine to have a connection, but they honestly do. Let’s look at it with a different perspective. You’ve just invested in a new crypto company that released their latest coin, and you already see that the development team is having some feud.

This immediately lights up your good alert, if you want to call it that. This gives you a sense that maybe this company will go under if the developers continue to fight. And you won’t be the only one. Many traders are affected by the politics of the company when some drama occurs, and they find it very hard not to have some concerns. The best thing to do here is to keep an eye on how things develop, and if there are actual threats that developers will leave the company, then it’s a good time to sell. Don’t sell prematurely, wait and see.

 

Psychological Problems

Human psychology is a fragile thing. Introduce it to any stress, and you will soon start seeing the cracks. The volatility usually creates the cracks in the crypto market. Many people can’t handle the mental pressure that comes with prices jumping up and down all the time. We are very basic beings, we like stability and when everything goes as planned. The moment something goes wrong, we panic. Remember the first time you started trading. You probably spend the whole day looking at the charts of your investment. The same thing happened to me when I first invested in Ripple and looked at its charts the entire day. Every time it would take a downwards direction, I’d have a mini panic attack.

The best thing to do in this case is to ignore it. If you have a long-term investment, ignore looking at charts all the time, keep focused on the news and how things develop. If you continue looking at the charts it will take a massive toll on your mental situation, your conscience will urge you to sell when there is a relatively big slump, but after the sell, we always regret it.

Another problem is when we are at a crossroads of, going with the crowd or following our path. Usually, for a beginner, it is one of the biggest mistakes to trade against the trend and go on their own, as they have no experience of the market yet. Although it is taxing on the mind to fall in with the crowd, especially in our day and age, it’s best to fall in line in the beginning.

 

Emotions We Feel When We Lose

The reason we see such a massive slump in cryptos this year can be attributed to the emotions investors felt when they lost quite a lot of capital during the January slump. We as humans tend to avoid losses more, than chase profits. It’s psychological as well. It’s more critical for us not to lose $10 than it is to gain $100.

After the slump investors became very disappointed with the market and avoided it altogether, further selling off their assets and bringing the price even lower, which at the end created an illusion of reinforcement for their disappointment and decision to leave.

 

How You Can Control Yourself

If you are a beginner, it seems impossible to control yourself when the price is falling. What you need to do is try to become a bit more patient.

First things first, try to avoid looking at the price every hour or day, think more long-term. When looking at the price think about 1month from now or even one year from now. It will calm you down.

When you see a feud happening in one of the companies, do more research. Find out why it happened and see similar scenarios in the past. If the past had people leave the company, then you have a good source to back your decision. Don’t just follow your gut.

If you have lost some capital with cryptos in the past, take a moment and trace it to a specific article or occurrence that it may have caused. Once you do, you’ll know exactly what caused it and will become more prepared in the future. If you want to get back in the game, go for a minimal investment to test out the waters.

Continue Reading

#Ethereum

Ethereum Miners are the best targets for Hackers, ETH mining is not profitable

Published

on

Down by 94% from its ATH, and currently trading at $87, Ethereum ETH mining has become a nightmare for miners. Hackers target Ethereum miners the most.

Down by 94% from its ATH, and currently trading at $87, Ethereum ETH mining has become a nightmare for miners. ETH mining is not only non-profitable but Ethereum miners are the best targets for crypto hackers according to a new report by ZDNet.


These crypto hackers are using a new way to steal your Ethereum with an enormous scanning effort to choose Ethereum wallets and ETH miners with an explicit vulnerability.

As per the report by ZDNet, crypto programmers are focusing on Etherum wallet and mining equipment through devices with an uncovered port 8545, the standard port for the JSON-RPC interface — an automatic API that sits on the nearby gadget and can be utilized to an inquiry for mining-related data.

Ethereum engineers had cautioned clients about the risks of uncovering the JSON-RPC interface when utilizing mining gear and Ethereum programming, educating clients to empower a secret word for the interface or enact a firewall to channel web traffic going to the powerless port.

By structure, the JSON-RPC interface doesn’t accompany a default secret phrase. It’s subject to clients setting one, which they once in a while do. For Ethereum wallets or mining gear whose port is left uncovered on the web, programmers can send directions to the API and remotely exchange assets out of the wallets.

The report expresses that mining rigs makers and Ethereum wallet engineers have done their bit to confine the harm caused by this risky interface by notice clients of the need to include a secret word. Others have gone the outrageous course of expelling the interface through and through, however, since this was certifiably not an assembled exertion, the issue holds on.

While there had been a lot of Ethereum scanning efforts in the course of the most recent two years, this is the first run through outputs have been accounted for in a bear advertise. Truth be told, the report refers to information from Tory Mursch, fellow benefactor of Bad Packets LLC, who told the news outlet that the output crusades tripled in December, contrasted with a month ago, when prices were steady.

 

“Despite the price of cryptocurrency crashing into the gutter, free money is still free, even if it’s pennies a day.”

 

Last year alone, hackers stole $32 million from Ethereum wallers using a small bug in multi-signature wallets. Is Ethereum really ready for medium and large-scale adoption with these vulnerabilities? Or is ETH a useless asset? Comment below.

Continue Reading

#Ethereum Price Analysis

Ethereum Price Analysis: ETH falling to $55?

Published

on

Ethereum price is trying to recover the huge losses but is failing to gain momentum and large whales are waiting to sell ETH above $90.

Technical Indicators:

Support Level: $80

Resistance Level: $90

 

Key Points

  • Ethereum price recovered more than 2.5% in the 24-hour chart moving above the resistance at $84.
  • Ethereum price is still in a bearish momentum and may fall towards the $80 support area soon.
  • There is a major bearish trend line with new resistance between $86 and $89.

Ethereum price is trying to recover the huge losses but is failing to gain momentum and large whales are waiting to sell ETH above $90.

Ethereum Price Analysis

After trying to recover back above $95 last week, Ethereum price started a downfall below $90 and $85 support levels. The price even fell close to the $80 support but was able to maintain itself above this range. Ethereum price is still below the 4 hours- 100 SMA.

ETHUSD 24 hour chart

ETHUSD 24 hour chart

Ethereum price is facing hurdles while trying to recover back above $90 with the main resistance between $86 and $89. The long-term resistance, however, is above $90 where large whales are willing to sell their holdings in order to avoid further losses. According to the 24-hour chart, Ethereum price may recover above $85 up to $90 but the strong resistance above $90 would push the price downwards and ETH may test the support level near $80 in short term. The current support is quite major as the most major support after this range lies around $55. If the current support is broken, ETH may fall up to this range.

 

The following article is not a financial advice. The readers should do their own research and analysis before investing in any digital asset such as Ethereum.

Continue Reading
Advertisement BitcoinAdvertising.com

Live Crypto Prices

  • BTC
  • USD
  • AUD
  • CAD
  • EUR
  • BTC
    Bitcoin(BTC) 3781.44771351
  • ETH
    Ethereum(ETH) 103.79093531
  • EOS
    EOS(EOS) 2.6214959555
  • BCH
    Bitcoin Cash(BCH) 116.18841572
  • LTC
    Litecoin(LTC) 30.5391348064
  • TRX
    TRON(TRX) 0.0160116926
  • ADA
    Cardano(ADA) 0.0358155785
  • DASH
    Dash(DASH) 75.9632501944
  • XEM
    NEM(XEM) 0.0686118207

Trending