What the heck is happening in the crypto world?Is Ethereum finally dead?Is ETH taking its last breaths?Not likey.In fact, the recent pullback on the ETH-USD market is probably one of the best and healthiest things investors and traders could have asked for.Given ether’s 300% price rise in just over a month, this pullback has a left many traders and investors bullish on the ETH-USD market.On a macro-scale, we can see ETH-USD had a very nice, textbook market correction along the 50% Fibonacci Retracement Line (shown in brown).This test of the 50% line was immediately rejected and is illustrated by the massive spike in volume (shown in blue).For healthy, growing markets 50% retracements are a very common occurrence, and the market response to the retracement can be viewed as a sort of litmus test for the strength of a market (i.e.a positive rejection of the 50% line with upward price action tends to indicate the market still desires higher prices, and a negative move from the 50% line will typically indicate the market is still extended and thus overvalued).Figure 1:  ETHUSD, GDAX, 12HR CandlesLooking at the micro-trend, we see the strong price rejection bounced off the 50% Fibonacci Retracement Line and is currently in the process of forming what is known as an “Inverse Head and Shoulders” pattern.

This pattern gets its name simply because it has the following, easily identifiable characters:A well defined neckline (shown in yellow)A break of the descending trend line (shown in brown)A left shoulder, a head which makes the lowest peak, and a right shoulderA re-test of the neckline (at the time this image was made, the market was testing the neckline)Finally, to confirm the reversal pattern, volume usually needs to increase after the re-test of the neckline to gain strength in the upward movement.Figure 2:  ETHUSD, GDAX, 30Min CandlesThis sort of pattern is often traded in FOREX and stock markets because it is seen as a reliable and predictable indication of future price movement.bitcoin conf miamiTypical price projections for Inverse Head and Shoulders are easily calculated with the following formula:Price Movement = Price of the Neck Line (~$350) - Price of the Head (~$250) = ~$100Price Target for Trend = Price Movement + Neck Line Price = $450Given the strength of the macro-trend’s rejection of the 50% Fibonacci Retracement Line and the current pattern forming on the 1-hour charts, we must then look to other indicators to give us further market insight.fed seize bitcoin

Two commonly used momentum indicators, RSI (Relative Strength Index) and the MACD (Moving Average Convergence Divergence), show us that the price increase from the initial, aforementioned 50% Fibonacci Retracement Line rejection is welcomed with a rising trend on both momentum indicators; this shows us that the price growth still has upward momentum.bitcoin safest walletAlthough the sudden price drop was a bit terrifying for many investors and traders, it was much needed and has now shown the strong market value of ether.ethereal blade costNow that we have proven the strength in the market, it is very likely we will see new price highs in our future before we see further tests of lower prices.On a macro level, ETH-USD sentiment still remains bullish; on a micro level, we are seeing strong indications of a trend reversal from the sudden bear market over the past few days.Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks.bitcoin btc meaning

This analysis is for informational purposes and should not be considered investment advice.Statements and financial information on Bitcoin Magazine and BTCMedia related sites do not necessarily reflect the opinion of BTCMedia and should not be construed as an endorsement or recommendation to buy, sell or hold.litecoin cpu or gpu miningPast performance is not necessarily indicative of future results.Bitcoin: the currency of the future?- Western Mass News - WGGB/WSHM Bitcoin: the currency of the future?It's a type of currency that has billions of dollars in transactions and has recently surpassed the value of gold.It's called Bitcoin and Stan Prager from GoGeeks in East Longmeadow joined Better Western Mass to tell us more.Previous post: How to Manage Your Money with ADHD Next post: Wallet Crashing #1: J. MoneyFor a half-decade or so, crypto-anarchists, libertarians, and freaks of all varieties of anticipated that bitcoin will upend all the powers and principalities of banking both government and private, credit, and perhaps even the legal system, IP system, rideshare system, and stock market via innovative use of the blockchain technology underlying it.

This week a bunch of federal sources decided to tell Newsweek that they agree, though they are nervous as hell about it, not excited.The story, by reporter Leah McGrath Goodman, begins with a bizarre and pointless lede about a southern African portmanteau currency made by white nationalists exclusively for whites, that is irrelevant to anything about the story and I'm not sure why it was mentioned at all.From there, she reports via voices such as Juan Zarate, a senior adviser at Washington think tank Center for Strategic and International Studies; Joshua Baron of the Rand Corporation; Yaya Fanusie, a former counterterrorism analyst for the CIA; Bala Venkataraman, global chief technology officer of banking and capital markets for Computer Sciences Corp; and sources unnamed that: hundreds of experts inside the nation's defense and intelligence agencies, as well as private-sector researchers in finance, technology and various think tanks across the country—some of them under contract with the U.S.

government—are now investigating how virtual currencies could undermine America's long-standing ability to disrupt the financial networks of its foes and even permanently upend parts of the global financial system."Feature not bug" the cryptoanarchist edge of the bitcoin community—who are clearly becoming a smaller percentage of that relevant community since it's beginnings—might say.But Zarate lets us know federal law enforcement never wants to lose the ability to cut off its enemies via cutting them off from the legitimate banking system.The creation of an all-computerized, potentially anonymous, electronic banking system via blockchain makes this harder, and makes the feds upset and nervous.Rand's Baron told Newsweek that: America's enemies appear to have far more access in recent years to the kinds of advanced technology and encryption tools that would allow them to potentially design a virtual currency that could circumnavigate the global financial system."We are seeing a trend toward increasingly sophisticated cyberservices being put into the hands of unsophisticated players," he says.

And while this may be handy for privacy-savvy Americans, it can make it much harder for the government and law enforcement to fight terrorists and criminals, he says.Baron does not seem to believe bitcoin as it exists will be that all-criminal virtual currency, as "the currency's publicly visible ledger of transactions is too transparent to attract terrorists, criminals or enemies of the state" in the reporter's summation.Though Goodman does report that, unsurprisingly, at least one terror propaganda organization, The Ibn Taymiyyah Media Center, accepted bitcoin to fund its efforts.Venkataraman of "Computer Sciences Corp., a digital information-technology company whose sister firm, CSRA Inc., runs the IT backbone of the National Security Agency (NSA)," told Goodman that "with the introduction of Blockchain, a disruption of the global banking system is inevitable" and "in a cryptocurrency world, you know who becomes the bank?...You and I.You become not just the bank, but the central bank.

And that can have enormous ramifications for things like sovereign authority.By 2040, I think we may be fully transitioned over to cryptocurrency.I don't think anyone can stop it from happening."My reporting from when bitcoin's dollar price first broke $500, in November 2013, with some background on its startlingly quick rise.It leapt above $1,000 for a bit, then dipped considerably but lately has been hovering between $700-800.Bloomberg reports today that bitcoin was your best currency speculation deal for 2016.It "surged 79 percent since the start of 2016 to $778, its highest level since early 2014, data compiled by Bloomberg shows.That's four times the gains posted by Russia's ruble and Brazil's real, the world's top two hard currencies."But its value as a speculative investment vehicle, while potentially lifechanging to the smart and well-timed, ought to pale before its value as a world-changer, and forces in the federal government seem to agree.I reported the other day on the IRS's attempt to force large bitcoin exchange Coinbase to give up all sorts of customer identification.