With Bitcoin, the Smart Money Is Staying Put

The Bitcoin community is abuzz with talk of an impending fork, with wildly divergent opinions as to whether or not this is bearish or bullish for the asset. One well-known pundit in the community was quoted as saying that the “smart money left a few days ago”.

Of course, it goes without saying that I don’t have a crystal ball and can’t say for a certainty that this is just plain wrong, but I believe that it is.

Let’s look at a long-term Gann setup on a 4-hour chart:

I note that price fell hard off the 1st arc (blue) and then worked its way back all the way to the 1st arc pair (red), where it faltered again. BUT, the fall, as harsh it was to those leveraged long, still made a higher low. Now, of course, it could fall again, making a lower low, but there is no reason that I can see to expect that to happen. This arc pair has been difficult. Pricetime is making it’s 3rd effort to get through the pair. It may falter yet again. But it is making higher highs and higher lows as it works its way through. This is a bullish indicator.

Of course, we won’t really have a confirmed buy signal until we get a close on the sunny side of the pair. I can’t say whether or not the asset will rally strong to the top of the pair tomorrow, or if it will move sideways through the pair for the next week. But it seems that it wants to get to the other side. What will the terrain look like when it gets to the sunny side of the pair? It looks quite lovely :)

This is the same chart we were looking at above, only this time we are seeing where the long-term 2nd arc pair is (dark green arc). We also see the shorter-term bull setup . The 5th arc pair on the short-term setup intersects the long-term 2nd pair at a new ATH in the neighborhood of $1900.

Do I know for a certainty this will happen? Of course not. But it is an eminently reasonable target based upon the geometry. However, I must stress again that it is a wise decision to wait until a buy signal is given before leveraging long. It is hard to be patient, but until we get the signal we can’t know for sure if the market agrees with us, or not…

Happy trading!

Remember: The author is a trader who is subject to all manner of error in judgement. Do your own research, and be prepared to take full responsibility for your own trades.

This Platform Allows Bitcoin for Asset & Commodities Trading

A new platform called Evolve Markets allows investors to trade commodities, indices, and cryptocurrencies by funding their trade accounts with bitcoin.

The platform connects independent traders to global financial assets using the bitcoin payment protocol.

Those who register on Evolve Markets can begin to trade quickly by funding their accounts with bitcoin.

Access Liquid Global Markets

Traders that have a bitcoin-funded account can access the most liquid global markets to execute trades. The platform holds account balances in bitcoin, which users can withdraw at any time without incurring withdrawal fees.

The platform also provides robust financial tools, institutional liquidity and a tier 4 institutional infrastructure. Features include bitcoin BIT base security accounts, immediate account approval, MetaTrader WebTrader, deposits tradable in minutes, up to 1:500 leverage and negative balance protection.

All bitcoin deposits from traders are stored in cold storage. Bitcoin withdrawals are managed manually to prevent attacks or unexpected errors by manually executing and verifying each request. Security measures also include two-factor authentication using MetaTrader 4 Password or Google Authenticator and database encryption across multiple layers.

Also read: This bitcoin-only platform reinvents stock, commodities and forex trading

Affiliate And Broker Programs

Evolve Markets offers an affiliate structure to encourage traders to refer the platform to their peers. The affiliate and “introducing brokers” programs give users an opportunity to earn ongoing commission on each trade executed by those referred by them. The ongoing commission is paid in bitcoin to the referrer’s MetaTrader account.

Evolve Markets also offers affiliate link and commission tracking to maintain a transparent structure allowing traders to track commissions earned from referrals.

The company plans to add more features to the platform.

Evolve Markets is a privately-owned IBC in the Grenadines and Saint Vincent. The trading platform specializes exclusively in bitcoin-denominated accounts and adopts a straight-through-processing execution model. The tradable financial assets supported on the platform include commodities, forex, indices, and cryptocurrencies.

Image from Shutterstock.

Could Britain Become Cashless by 2043?

An online casino is predicting that Britain could become a cashless society by 2043 when the number of transactions undertaken with cash reaches zero percent.

In a report from Finextra, Gala Casino, a popular online casino in the U.K., looked at how cash is declining from usage data from 2004 to 2014. Figures show that it has dropped from 71 percent to 53 percent.

The online casino also looked at Payments UK predictions for 2024, which reported that inter-bank mobile and Internet banking payments saw 1.1 billion payments processed in 2014, a 14 percent increase. By 2024, this is expected to increase by two and a half times. Gala Casino then arrived at 2043 as the year when Britain would become a cashless society.Stephen Hart, CEO of CardSwitcher, said that moving from cash to cashless will follow the same path as cheques.

He said:

Cheque use has plummeted and there are regular calls for them to be scrapped entirely. This, however, has not happened because there are key groups who still use them.

According to the survey conducted by Gala Casino, 68 percent are reported as stating that they would be scared to live in a society that was entirely cashless.

The U.K. still has many years to go before the projected cashless society becomes a potential reality. And yet, the U.K. is already starting to see how cash is no longer the king of everything.

In a report from Global Payments, a Fortune 1000 company, and one of the largest card payment processors in the world, it found that for purchases £30 or less, contactless payment is becoming a quick and easy way to pay. Furthermore, Londoners use contactless for payments that range from bus journeys, traveling on the underground and paying for parking meters.

Not only that, but research from Lloyds Bank shows that two in five people won’t need to use cash in ten years while one in three people will use a mobile phone for payments within five years.

Bank of England’s Digital Coin

In an attempt to tap into the digital market, the Bank of England revealed last March that it was seeking a digital currency of its own, known as the RSCoin.

With interest growing in Bitcoin banks are keen to maintain a hold on the expanding market particularly at a time when more people are ditching their cash and using the digital currency instead.

Sweden Leads the Way

And yet, it is Sweden who is expected to be the first country to become cashless.

A report in 2014 found that Sweden could become cashless by 2030, with 80 percent of all transactions already being done by debit or credit cards or mobile apps.

Featured image from Shutterstock.

Clean Tech Energy Initiative Introduces Blockchain To E-Mobility

Oxygen Initiative, a provider of an electric vehicle charging infrastructure, has partnered with a German energy company, innogy SE, to introduce blockchain based electronic wallets for drivers of electric vehicles. The initiative could allow EV drivers to help utilities manage the power grid seamlessly.

An electronic wallet, Share&Charge, enables people to share charging stations with drivers who pay for usage. Other use cases for mobility services will be tested.

E-Mobility Benefits

Stephen G. Davis, founder and CEO, said e-mobility technologies could foster the adoption of clean-tech autonomous vehicles (AVs) and electric vehicles (EVs), which could reduce congestion and pollution and provide shorter commutes and lower operating costs.

“We’re excited to do our part by introducing blockchain technology for the mobility space to the United States, starting with access and payment solutions for electric charging stations,” he said.

Blockchain technology offers seamless payments for charging stations. Such a payment system supports e-mobility solutions, known as autonomous, connected, electric and shared (ACES) and fleets of autonomous vehicles, electric and shared (FAVES) technologies.

Self-Sustainable Cars

Cars can pay for themselves and handle simple transactions automatically. An autonomous vehicle could conceivably go into taxi mode while the owner at work and return when he is ready to go home. The car could collect fares from riders and pay to charge itself for the commute home.

Blockchain-based technology can allow EV drivers to employ easy-to-use payment options, such as the real-time settlement of highway tolls, peer-to-peer roaming and sharing charging stations.

Beyond convenience, the technology could allow EV drivers to help utilities manage the power grid, enabling these vehicles to pay for their own fuel. Electric utilities could compensate drivers for delaying charging sessions, thereby alleviating the load power grids during peak demand.

Instead of paying with cash or credit cards, a vehicle could sell back excess energy during peak pricing events, thereby paying for vehicle operation, Davis said.

Also read: Blockchain presents a new model for transactive energy

Make Charging Stations Interoperable

Oxygen Initiative will also help solve the interoperability problem caused by different types of charging stations and payment systems to accelerate adoption of FAVES.

Thomas Birr, senior vice president, innovation and business transformation at innogy SE, said personal mobility will be autonomous, connected, electric and shared. Blockchain technology will facilitate efficient transactions among all stakeholders in the mobility sector.

Russian Crypto Firm Qiwi is Working on a Blockchain Energy Project in Crimea

Each Tavrida Electric transaction will be recorded on the blockchain, according to Moscow-based Rambler News Service. The transactions will be visible to regulatory agencies and other energy companies on the blockchain. Qiwi said it could extend the project to other energy companies.

The project marks Qiwi’s latest effort to promote blockchain-related technology in Russia, despite government opposition.

Smart Grids For Russia

Tavrida Electric signed an agreement a year ago to deploy smart grids in Moscow and other parts of Russia, along with projects in other countries such as Poland, Mexico and Brazil. The company plans to build a new factory for its smart grid projects, according to Kommersant, a business daily.

Smart grids, according to Kommersant, represent the most promising trend in the global energy sector.

According to its website, Tavrida Electric is among the three largest circuit breaker and recloser suppliers in the world. It holds a leading position in the production of electrical equipment, having offices in 22 countries and exporting to 80 countries. The company offers automation technologies and distribution of electricity, ranging from standard products to turnkey solutions for a variety of industries.

Past Political Upheaval

According to Kommersant, Tavrida Electric was founded by a politically active man, Alexei Chaly.

Chaly declared himself Sevastopol mayor in February 2014 during the Crimean crisis following the resignation of the mayor appointed by Victor Yanukovych, according to Wikipedia. Under Chaly, Sevastopol participated in the March 2014 referendum in which Crimea separated from Ukraine and acceded to Russia.

Chaly sold the company following Russia’s annexation of Crimea when his name was placed on the United States and European Union sanctions list, according to Kommorsant.

Also read: Russian payment operator Qiwi plans to launch cryptocurrency; government objects

Qiwi: A Persistent Crypto Player

Qiwi, being active in cryptocurrency in a country that hasn’t welcomed it, has faced its own share of opposition in Russia, independent of Crimea-related events. The company met opposition from local officials earlier this year when it planned to issue a cryptocurrency called “bitrubles”. Elvira Nabiullina, the Russian central bank’s chairwoman, repeatedly said cryptocurrencies could be used for dubious operations, and that the bank is studying the matter and could supervise the sphere out of necessity.

In June 2016, Qiwi was revealed to be organizing Russia’s own private banking consortium, in partnership with the Bank of Russia, the Russian Federation’s central bank. The plan came to pass the following month when Russia’s largest banks and tech consultancy giant Accenture formed the working group with Qiwi.

Image from Shutterstock.