EOS Price Hits $5.5 as Industry-wide Positive Momentum Remains

As this sudden and unexpected bullish trend continues to make headlines, it remains interesting to take a closer look at individual market trends. Albeit most top markets perform rather well at this time, it seems the EOS price is struggling to keep up. While its gains are nothing to sneeze at by any means, it is evident some of its market cap range “competitors’ are having more success.
EOS Price Uptrend Needs More Conviction
A lot of people are genuinely wondering how long this Bitcoin momentum can remain in place. With a near 26% gain in the past few days, it is evident this bull run has grown well beyond proportions. That is not necessarily a bad thing by any means, but it will be intriguing to see how all markets respond to this challenge over the coming days and weeks.
https://files.coinmarketcap.com/static/widget/currency.js

As far as the EOS price is concerned, the current uptrend isn’t half bad, but not overly impressive either. A 15% rise in USD value means one EOS is priced at $5.47. There is also a  6.15% gain in EOS/BTC, bringing that ratio to 0.00106 BTC again. Both trends are more than acceptable, but they are far less significant compared to Litecoin, Bitcoin Cash, and several other markets. Changing that scenario will not be all that easy.
On social media, there have always been some very interesting discussions pertaining to EOS. C4Chaos, for example, is wondering why anyone would use either XRP or Bitcoin Cash, in terms of sending transactions with a fee when EOS can do it without additional costs. An interesting sentiment, albeit there is a case to be made for using most of the top currencies, tokens, and assets for regular transactions these days.

why would anyone want to use $BCH and $XRP for a small transaction fee when they could send $EOS fee-less? oh, right, because @coinbase is still marginalizing #EOS https://t.co/HNpqQv1uVf
— ~C4Chaos (@c4chaos) April 3, 2019
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When it comes to the current dApp ecosystem, there has been significant growth for both EOS and Tron these days. Of the top applications, half of them belong to the EOS ecosystem, which is rather intriguing. It is evident there will be some fierce competition with Tron in this department. Even so, there is no sign of Ethereum-based dApps in the top 10 right now, which is rather telling.

Half of the top 10 DApps belong to #Tron, while the other half belong to #EOS.
Which one will take the majority and emerge on top?
Comment T for $TRXComment E for $EOS#Crypto #TRX
— TRX Colony (@TronColony) April 3, 2019
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There is also some growing dismay regarding Coinbase’s reluctance to enable EOS trading at this time. Although that is not too surprising by any means, one has to keep in mind the company will keep adding more offerings as time progresses. Whether or not EOS will ever be officially supported, is difficult to predict. Logic would say that will be the case, but cryptocurrency is not always a rational industry.

Their reluctance to list #EOS is simply bizarre
— Natasha Carter (@Natasha) April 3, 2019
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When looking at the bigger picture, it is obvious this EOS bull run will fall apart of Bitcoin reverses course. The world’s leading cryptocurrency has shown no signs of doing so, but that doesn’t mean it won’t happen in the near future. This massive industry-wide uptrend will be met with a correction of sorts sooner or later. When that will happen, all markets need to buckle up to prepare for the worst.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
Image(s): Shutterstock.com

The post EOS Price Hits $5.5 as Industry-wide Positive Momentum Remains appeared first on The Merkle Hash.
Source: themerkle.com

Binance Coin Price Keeps Dropping Following 10% Loss Over Bitcoin

Some people will say the cryptocurrency markets are all entering the overbought state. Others will say this uptrend was overdue and will become even more violent moving forward. As far as the Binance Con price is concerned, there is no uptrend visible as of right now. In fact, it is the only market in the top 10 to note any losses at this time.
Binance Coin Price Trend Remains Bearish
It is not uncommon for altcoins, tokens, and assets to struggle when Bitcoin remains very bullish for quite some time. Although some people still have high hopes for Binance Coin, the token simply cannot “hang” with the top markets at this time. It is losing value across the board, as the losses continue to pile up in very quick succession. A somewhat surprising trend, although this uptrend had to end sooner or later.
https://files.coinmarketcap.com/static/widget/currency.js

To be more specific, the Binance Coin price has dropped by 2.57% to $19.17. The more worrisome aspect is the 10% loss in BTC value and 11.3% loss over Ethereum. It is normal for altcoins to lose BTC value during this time, but BNB is clearly in a different league. Traders will not be happy with the way things re going, yet the current trading volume mainly represents sales rather than buys.
The sentiment toward Binance Coin on social media is not looking all that great either. CryptoKop expects BNB to settle soon in BTC value, but it seems unlikely a decisive floor will be reached in the near future. This downward spiral is a sign of how BNB simply gained too much value in quick succession. A correction now and then is healthy, albeit not everyone will see it that way.

#BNB showing weakness against BTC. Down 10%. Better settle soon when BTC finds its price.
— CryptoKop (@CryptoKop) April 3, 2019
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Sam, on the other hand, struggles to make sense of what is happening to Binance Coin at this time. It is an unexpected trend for most holders, although everyone who knows how these markets work will acknowledge this was to be expected somewhat. As the USD-based losses continue to pile up in quick succession, it will be difficult to predict where things will head in a few hours from now.

#BNB why? pic.twitter.com/q30Z6IIKTF
— sam (@SarmidFaraj) April 3, 2019
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For those who look at the BBN chart, the uptrend is seemingly still in place. Given how this uptrend started in October of 2018, it seems things are not necessarily slowing down. This could be an indicator of how this current downtrend is a mere setback which will come to an end eventually. Even so, a hyperbolic chart is equally possible at this time.

BNBの上昇が凄いことになってますね。取引所tokenは資産価値が出てきそうな予感がします。#BNB #BTC #ETH pic.twitter.com/VrIRuouM4r
— こうじ@筋トレ大家さん (@as_con11) April 3, 2019
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As is always the case in this rather unique industry, everything needs to be taken in stride and put in perspective. While Binance Coin is not performing as expected, there is no real reason to panic either. Traders who had hoped to gain more BTC in quick succession will not be too happy with the way things are going, but that is the way this industry works. Things can look very different tomorrow morning, for all one knows.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
Image(s): Shutterstock.com

The post Binance Coin Price Keeps Dropping Following 10% Loss Over Bitcoin appeared first on The Merkle Hash.
Source: themerkle.com

Elon Musk ‘Resigns’ as Dogecoin CEO After Price Soars 30%

Dogecoin has become the unexpected new champion of the sudden cryptocurrency bull market which gripped the industry this week - thanks to Elon Musk.

Musk Pets ‘Pretty Cool’ DOGE
In a series of surprising yet distinctly familiar tweets, Musk, who has hinted at his alleged fondness of Dogecoin, said the meme-based cryptocurrency was his “favorite” and described it as “pretty cool.”
Another post claimed Dogecoin “rules (sic),” while Musk also linked to an article about the current market from fake news outlet The Onion, commenting that “Dogecoin value may vary.”
All appearing April 2, it remains unknown whether Musk had a specific purpose in his advocacy, or whether the episode was simply a delayed reaction to an April Fools Day contribution by Dogecoin itself.
On Monday, developers had published a Twitter survey asking users to name a fictitious ‘CEO’ of the cryptocurrency, itself a long-running community in-joke.
Musk, who ‘competed’ for the position with Ethereum co-founder Vitalik Buterin, Litecoin creator Charlie Lee and Metal Payments CEO Marshall Hayner, easily won the run-off and inherited the title. However, from his Twitter account information, it appears he has already quit.

Three Tweets, One Big Pump
Regardless, the effect on Dogecoin was immediate and decisive: as of press time, the altcoin had made daily gains against the US dollar of almost 35 percent.
DOGE/USD currently trades around $0.0033, its highest since early November.
Elon Musk quickly gained the attention of the cryptocurrency community on Twitter, with traders extrapolating potential endorsement of the wider industry beyond DOGE.
Tuesday’s gains meanwhile were not enough to put DOGE back into the top twenty cryptocurrencies by market cap, with some other well-known assets delivering stronger returns.
Those included Bitcoin Cash, which advanced 45 percent over the past day, and Augur, which managed 34 percent.
When Bitcoin?
While previously publishing pro-DOGE tweets, Musk’s latest entry builds on momentum which has bound him to the crypto world in recent months.
Specifically, since February, a community effort has sought to involve the Tesla CEO in Lightning Torch, a transaction relay on Bitcoin’s Lightning Network.
As Bitcoinist reported, the ongoing event has seen major publicity and participation from figures including Twitter’s CEO Jack Dorsey. Despite pleas, however, Musk has so far refrained from following suit.
Last September, Musk had recruited Dogecoin’s creator, Jackson Palmer, to help him combat the problem of scam bots infecting Twitter, a problem which persists for many.
Palmer provided Musk with a script, revealing they had held offline discussions about the issue.
“…We had a good chat on how (Dorsey) and the Twitter team should definitely automate and fix this problem on their end,” he tweeted.
What do you think about Elon Musk’s Dogecoin propaganda? Let us know in the comments below!

Images via Shutterstock
The post Elon Musk ‘Resigns’ as Dogecoin CEO After Price Soars 30% appeared first on Bitcoinist.com.
Source: bitcoinist.com

Data Shows Short-Term Crypto Tax Filers Increase, But Lots of Investors Still Won’t File

Data Shows Short-Term Crypto Tax Filers Increase, But Lots of Investors Still Won't File

According to personal finance firm Credit Karma Tax, filers who reported short-term capital losses for cryptocurrencies in the first month of 2019 jumped fivefold year-over-year. After the incredibly bearish crypto markets of 2018, data from early tax filers highlights the fact that more investors are claiming losses this tax season. However, a survey the company recorded back in November found that the number of people deciding not to file crypto taxes has increased.

Also read: Bitcoin Cash Markets and Network Gather Strong Momentum in Q1

Tax Filers Reporting Short-Term Crypto Gains and Losses Spike Considerably

Last April, as tax season approached, news.Bitcoin.com reported on how many cryptocurrency holders didn’t really care. At the time, the general manager of Credit Karma Tax, Jagjit Chawla, explained that out of 250,000 cryptocurrency holders, less than 100 people (0.0004%) reported their gains to the IRS. The tax season in 2019, however, has seen an increase of individuals reporting short-term capital losses. Sharing the data with our newsdesk, the company said that filers who reported short-term capital losses for bitcoin in the first month of 2019 jumped 521 percent in comparison to the first month of 2018. Moreover, short-term BTC losses averaged $3,405, which is a 322 percent increase since last year’s tax season.

Data Shows Short-Term Crypto Tax Filers Increase, But Lots of Investors Still Won't File

“Short-term bitcoin gains declined during the first month of the 2019 filing season, with a net 7% decrease in the average amount of gains,” the report reads. “However, 33% more early filers reported short-term gains year-over-year.” The document’s author notes:

Investors with long-term gains are the winners so far this tax season, with early filers reporting an average gain of $15,352 during the first month of the 2019 filing season — up 103% from the same period last year.

Out of 1,000 bitcoin investors, 47 percent of respondents stated they did not plan on reporting crypto gains or losses.

Despite Increase in Short-Term Filings, Survey Reveals 47% of U.S. Investors Still Plan to Skip Paying Crypto Taxes

The methodology Credit Karma Tax used stems from data from members who filed their 2018 federal income taxes with the company between January 28 and February 22, 2019. This is in comparison to tax filers who submitted their 2017 taxes with the firm between January 29 and February 22, 2018. So year after year, data shows that people are claiming gains and losses more so than 2018 and 2017. However, the amount of people paying taxes on crypto assets is still incredibly small compared to the number of investors. In November of 2017, a Lendedu survey of 1,000 U.S. residents showed that 35.87 percent of the survey participants responded, “No, I do not plan on reporting gains or losses on my tax return.”

The data from Credit Karma Tax published on April 3 reveals that these numbers could be climbing higher. In November 2018, the company surveyed 1,000 bitcoin investors aged 18 and older and discovered 47 percent of U.S. based investors did not plan on reporting crypto gains or losses. “More than a third of those surveyed were unaware they could be required to report the same on their tax returns,” the firm’s report reveals. Last year a few bitcoin proponents got extremely salty with the previous year’s survey which showed lots of crypto holders were not paying taxes, so the increase last year may infuriate them.

Data Shows Short-Term Crypto Tax Filers Increase, But Lots of Investors Still Won't File
Many crypto investors despise taxation and believe that bitcoin was meant to be used as a tool to protest such acts.

In fact, for many people in the bitcoin world, the idea of crypto and taxes is like mixing oil with water. Only recently, bitcoiners have been discussing how crypto taxation is actually the biggest hindrance to digital currency adoption. So the steady increase of bitcoin holders that do not plan to report losses and gains to the IRS suggests that people may be thinking twice about paying into a blatantly corrupt and immoral system.

What do you think about the increase of short-term capital losses filed year-over-year? What do you think about the November 2018 survey showing 47% of investors do not plan to file crypto gains and losses? Let us know what you think about this story in the comments section below.


Image credits: Shutterstock, Pixabay, and Wiki Commons.


Want to create your own secure cold storage paper wallet? Check our tools section.

The post Data Shows Short-Term Crypto Tax Filers Increase, But Lots of Investors Still Won’t File appeared first on Bitcoin News.

Source: news.bitcoin.com/

‘I Fu%*ng Told You So’ – John McAfee Declares Bitcoin Bear Market Over

Popular investor and prominent cryptocurrency advocate John McAfee reiterated that the Bitcoin market “has now turned,” suggesting that the bottom is in. His announcement comes after Bitcoin price soared more than 20 percent in the last two days alone.

‘The Market Has Now Turned’
Bitcoin price gained upwards of 20 percent in less than two days. The cryptocurrency surged from around $4150 on April 1st to its current price point of about $4,980.
Historically, as its price starts to increase, so does the public interest toward it. Bitcoinist reported that Bitcoin has made it into the top ten of most searched terms on Google, hitting over 100,000 searches yesterday.
While most are looking for the exact reason that caused the massive spike in Bitcoin’s price, John McAfee came up with a statement that sounds a lot like “I told you so.” The popular entrepreneur said:
Everyone trashed me two weeks ago when I said: “The market has now turned”, so I’ve kept my mouth shut. I will now say it again: “The market has now turned”. The bow of the bear market was pulled to its max. Now watch the arrow spring to life.
Apparently, McAfee suggests that we’ve seen the worst from the bear market and that it’s only upwards from here.
“I am absolutely NOT the type of person who would ever say “I told you so”. But. . . . . . I fu%*ng told you so!!” - he tweeted today.
The bullish sentiment doesn’t seem to end with McAfee, though. Another Bitcoin investor and entrepreneur, Alistair Milne, also said that “pretty much every OG Bitcoin trader” he respects is leaning bullish days before Tuesday’s price surge.
$995,000 to Go By December 31st, 2020
In 2017 McAfee made a particularly popular bet that Bitcoin price will move above $500,000 in three years or else he’d have to consume his own manhood on national television.
Amusingly, there’s even a dedicated ‘dick clock’ website online counting down to the day.

More recently, he has updated his prognosis, putting Bitcoin at $1 million by December 31st, 2020.
Despite the recent surge in Bitcoin’s price, which brought it close to $5,000, the cryptocurrency has a long way to go before it reaches the $1 million target. To be precise, Bitcoin’s price would have to gain 19,900 percent in the next 638 days.
This means that Bitcoin would have to add approximately about $1,559 to its price every single day until December 31st. Pretty ambitious.
Meanwhile, McAfee has also stated that he will be ‘running’ for the 2020 US Presidency in ‘exile’.  In reality, though, the entrepreneur has said that he doesn’t really expect to become the next US president and that he only wants the stage.
What do you think about McAfee’s Bitcoin price predictions? Don’t hesitate to let us know in the comments below!

Images via Shutterstock, Bitcoinist archives
The post ‘I Fu%*ng Told You So’ - John McAfee Declares Bitcoin Bear Market Over appeared first on Bitcoinist.com.
Source: bitcoinist.com

How to Save Over 15% Shopping on Amazon With Bitcoin Cash

How to Save Over 15% Shopping on Amazon With Bitcoin Cash

There’s an ever growing list of places on the web where you can spend Bitcoin Cash (BCH). However, Amazon stands out as an online retail giant that dominates many markets. Today’s tip explains how to shop on Amazon using bitcoin cash (BCH) while claiming a great discount to boot.

Also Read: What It Takes to Air a TV News Channel Devoted to Crypto Assets

Save Money Shopping With Purse.io

Purse.io is a platform that offers significant discounts for cryptocurrency users on products sold on Amazon. Users can search for any item they want to purchase and select a discount of 5 percent for fastest delivery times or they can name their own discount at the expense of speed. According to the site’s statistics, the company facilitated over 300,000 orders during 2018 with an average discount of 18 percent.

How to Save Over 15% Shopping on Amazon With Bitcoin Cash

The platform essentially works by connecting crypto shoppers with people who wish to exchange their Amazon gift cards for cryptocurrency. This also means that in addition to shopping on Purse.io, you can use the platform to purchase bitcoin cash with any Amazon gift cards you may have, something that is not possible on exchanges.

What do you think about using Purse.io for discount shopping on Amazon with BCH? Share your thoughts in the comments section below.


Images courtesy of Shutterstock and Purse.io.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post How to Save Over 15% Shopping on Amazon With Bitcoin Cash appeared first on Bitcoin News.

Source: news.bitcoin.com/

Cardano (ADA) Overtakes Stellar (XLM), Currency is Up By Over 19%

Cardano is flying high and recording big numbers. In the last 24 hours, the coin has extended its gains from yesterday by more than 15%. Cardano’s surge from the last couple of days has seen it get back into a top ten ranking position and steadily it is continuing to climb up the ranks. At the time of press, the coin is enjoying a solid $2.44 billion market cap.
This number is quickly rising since the coin at the time of press is enjoying gains of over 19%. The coin’s movement looks unhindered in the short term meaning that market cap should be hitting $2.5 billion pretty soon.

Cardano’s movement poses danger for Stellar which just lost its eighth position to ADA. Stellar is at the time of press recording a market cap of just a little over $2.3 billion.
Though Stellar is also enjoying a substantial gain in the new wave of green, it is far from what Cardano is recording. At the time of press, Stellar is up by a little over 7%. The difference between the two coins at the time of press is less than $20 million.
Full Decentralization Still To Come
Prior to the April 02 pump, Cardano was already enjoying some gains owing to the fact that there have been some key developments from the platform. Much of the development has been lining up the network to becoming fully decentralized.
This is expected to ensure secure staking and reliable dapps. This is going to have an astronomical effect on ADA  prices. Even if Cardano does not overtake Binance Coin during this rally, it looks inevitable that soon Cardano will surge past BNB.
As Cardano is over Stellar, next will be Binance coin, but, this will be much harder since there is a cap difference of around $300 million and Binance coin has been on the front foot for the better half of 2019. By every indication, the future looks bright for Cardano and it will be interesting to see its movement during the next couple of weeks.
The post Cardano (ADA) Overtakes Stellar (XLM), Currency is Up By Over 19% appeared first on ZyCrypto.
Source: zycrypto.com

Mercury FX: Ripple’s xRapid Saved Our Client $30k On Cross-border Funds Transfer

Ripple has been making cryptocurrency news headlines for weeks now. From the thumbs up from the white house, thumbs up from the World Bank and other endorsements from reputable members of society, one thing has become clear; Ripple’s technology is here to stay. In the Ripple news or Ripple XRP news today as some prefer to call it, we would be talking about how xRapid was used to save a Mercury FX client $30k on funds transfer.
Continue reading Mercury FX: Ripple’s xRapid Saved Our Client $30k On Cross-border Funds Transfer at Smartereum.
Source: smartereum.com

Litecoin (LTC) Surges by 22% As Litecoin Foundation and 2 Other Cryptocurrency Companies Own Part of German Bank

In the latest litecoin news, three cryptocurrency companies namely TokenPay, The Litecoin Foundation, and Nimiq have acquired part ownership of a German bank. According to a report on cryptocurrency news outlet Coindesk, blockchain startup Nimiq recently acquired a stake in German bank WEG Bank AG after TokenPay and the Litecoin Foundation.  This is as Litecoin price surges over 20% in the latest bitcoin bull run making optimistic litecoin price predictions look achievable.
WEG Bank AG is a relatively small Germany-based bank that specializes in the real estate industry.
Continue reading Litecoin (LTC) Surges by 22% As Litecoin Foundation and 2 Other Cryptocurrency Companies Own Part of German Bank at Smartereum.
Source: smartereum.com

PayPal Enters Into The Blockchain Space With Major Investment In Cambridge Blockchain Firm Amid Bitcoin Bull Run

Cryptocurrency news outlets are so focused on the Bitcoin bull run that took the market by storm yesterday. However, other things are happening in the blockchain space to show that this emerging technology is here to stay. Yesterday, per the report on CoinDesk, the global payment giant, PayPal announced that it has joined the investment round in a blockchain firm called Cambridge Blockchain. PayPal’s participation in this Series A funding round for Cambridge Blockchain will be its first investment in the blockchain space.
Continue reading PayPal Enters Into The Blockchain Space With Major Investment In Cambridge Blockchain Firm Amid Bitcoin Bull Run at Smartereum.
Source: smartereum.com