Bitcoin Reaches its Monthly Low after a 5% Drop

Bitcoin has been down by almost 5% over the last 24 hours, and it has been trading below $10,000. In the previous 30 days, the BTC has been through four phases of price shifts.

Bitcoin Price Analysis

Bitcoin got its first push between 30th July and 06th August and this push of 30.16% added $2832.29 to the BTC. However, this growth could not have lasted long, and it took a shift of 21.67%, and Bitcoin price fell to $9570.32 by 15th August. The third swing of the month came on 15th August, and by 19th August, it managed to reach $10,905.08. Since then, BTC has been showing volatility and an overall decline in the price. As per the latest figures, Bitcoin has lost 12% value and reached to $9592.02. The Market Cap on 29th July was $170,719,683,821, and the price of Bitcoin was $9559.47. The current Market Cap and the value of each coin are respectively 0.81% and 0.51% more than the data for last month.

Bitcoin Chart by TradingView

CHART

Bitcoin has lost a huge amount and fallen to a level near its monthly low. However, this situation is not going to find an antidote anytime soon. The details of the next resistance and support levels are described below:

R1: $10116.97, R2: $10479.52 and R3: $10679.68

S1: $9554.26, S2: $9354.10 and S3: $8991.55

US regulators become cautious of the cryptocurrencies after Switzerland visit

Anticipating the outcomes of the recent visit to the country by US finance officials, the regulators still haven’t given a clean chit to Facebook’s long-awaited cryptocurrency launch, Libra.

This probably because once Facebook launches the currency, it will become far more widespread and prevalent than one can think. Given the already resurfacing illegal activities in the light of what is termed as “trading on the dark web”, Libra will fuel the fad.

Moreover, concerns about its compliance with the nation’s financial and regulatory laws have been worrying the stakeholders. However the makers of Libra have reassured the officials that Libra would meet all the monetary, financial and anti-drug and fraud laws of the countries in which it tends to operate.

Based on the statement released on Aug 25 of a committee’s official, the members of the House of Representatives Financial Services Committee visited some swiss government officials and regulatory bodies including, State Secretariat, International Financial Matters, and the commissioner, Federal Data Protection and Information and Supervisors of the Financial Markets.

As said in the last month, the officials wanted to clear the air on how various Swiss lawmakers will control the functioning of Libra and be aware of its intensity of the benefits and consequences. Waters after the visit stated that:

“While I appreciate the time that the Swiss government officials took to meet with us, my concerns remain with allowing a large tech company to create a privately controlled, alternative global currency.”

Waters, the chief of the US regulatory body, has been particularly critical of Libra due to Facebook’s previous nature and doings with the user data and security issues, stating that it has a “proven history of refraining from the laws that keep customer data secure at a place just like the case of Equifax.”

After Facebook launched the Libra whitepaper early this year, Waters asked Facebook to stop its progress of Libra so that authorities can look into the project with a deeper understanding. According to her, any possible complication overlooked can have drastic consequences on the nation and its economy and as well as the government policies. To put this to an end, Marcus spoke in an interview that Facebook commits to aligning the project to follow all proposed laws till the time the issue of Federal Reserve regarding the project were taken care of.

LARGEST CAMPUS IN HYDERABAD BY E-COMMERCE GIANT AMAZON INC.

One of the biggest e-commerce giant Amazon Inc., opened its largest campus building in the world in Hyderabad’s financial district, South India. It prepares for expansion and fights with its long-standing rival Walmart Inc.

The facility of this big giant is spread over 9.5 acres, which comprises of three million square feet built-up area. Amazon Inc. is the first owned office building outside the US, which has a capacity three times more than the number of people, the US building does. Due to its huge build-up area, it is the single largest building in the world. At present Amazon has 62,000 employees working for it only in Hyderabad in India. It was inaugurated by Telangana Home Minister Md. Mahmood Ali, Amazon Vice-President Global Real Estates and Facility Director John Schoettler and Amazon-India Senior Vice President and Country Manager Amit Agarwal.

The campus was built in three years period with few special facilities like interfaith player room, mother’s room, quiet room, showers, helipad, and 24 hours open cafeteria. The huge area is located near Rajiv Gandhi International Airport and plans to expand it to 580,000 square feet by next year.

As per the statement of Amit Agarwal, Amazon will also provide space for the company’s tech manpower, software developers, and machine learning scientist, etc in this campus. There is already a migration of 4500 employees done to these new premises, and many more are expected to join this team from other lease facilities.

India has a very small portion of retail consumption. Therefore, there is so much to grow an e-commerce business as per Agarwal.

Macro conditions such as inflation, unemployment, monetary, and fiscal policy would rarely affect the condition of the largest e-commerce industries in India.

Amazon Inc. has done an investment of $5 billion so far, and another $500 million will be invested in food retail. Agarwal also added that Amazon had stepped up exports from India to $5billion over the next couple of years and it has already crossed $1 billion within two years of its launch.  There will be more facilities for services like AWS, Kindle, Alexa, Amazon.in and Amazon Home Services, which is provided on things like doorstep pick-up and electronics repair. Amazon Inc. is also investing in other sectors within the nation. Local media have reported, Amazon investing in food delivery, negotiating with multiple food companies to kick start this line of business.

“The largely untapped country is critical to the global domination plans of both Amazon and Walmart,” creating employment in India’s e-commerce sector.

NEO Price Analysis: NEO up by 5% since yesterday, is NEO aiming to touch $11.23?

Neo did not start off that well as per the period of our analysis. It was as low as $10.81 on 24-July-19 at 04:20 UTC time. There were several sharp rises over the next day and the coin managed to reach up to $12.40 on 25-July-19 at 12:55 UTC time. The next major drastic fall for the coin was on 27-July-19 when it fell to the level of $11.13 at 10:25 UTC time. Post 27-July-19 it seemed to be that the coin was moving at a stable pace, however it saw a sharp fall again yesterday when the prices reached $10.61 at 22:30 UTC time. Since yesterday, it seems that the coin has managed to come back in the game and is slowly rising upwards. We anticipate that NEO will continue with the bullish run tomorrow as well.

Let us observe the performance of the coin since 24-July-19:

Current Data of NEO:

  • NEO is ranked at number 16 as per today’s data.
  • Market value of NEO was $791,711,939 at 09:34 UTC time.
  • Price of the coin is $11.15 at 09:50 UTC time.
  • 24-hour volume figures are $270,129,197
  • 70,538,831 NEO coins continue to be the same since many weeks.
  • ROI of the coin stands at 6,037.16%.

NEO Price Comparison and Future Predictions:

Comparing the price of NEO since the lowest value of $10.61 and today, the coin at present is indicating a bullish trend by 5%.

Experts believe that NEO may reach $11.23 by tomorrow. After about a period of 7 days or so, it may continue to rise further and can touch $11.63. By the end of 2019, NEO has all the potential to beat its previous best and can reach as high as $12.92.

Conclusion:

It is suggested to sell the NEO coins today. You may also purchase the new coins after a few days’ time and advisable to retain the same for at least 2 and more years. The kind of haphazard movement that the coin has shown over the past 5 days, it is not recommended to trade on the coin with a short term purpose. By the year 2021, NEO can touch even greater heights and can go as high as $15. If NEO continues to rise upwards, the next major resistance levels for the coin may be seen at $12.08 and $12.63 respectively.

EOS up to $4.05, has shown growth of 7% over the last 5 days

EOS price movement over the past 5 days has been quite unstable. It reached a low of $3.76 on 18-July-19 at 13:50 UTC. There was a sharp rise on the same day, and prices seemed to rise upwards before it saw a sharp fall the next day. From 19-July-19 EOS price slowly started to rise upwards and reached as high as $4.46 on 20-July-19 at 22:25 UTC. However, since this date, the coin has not been able to maintain the same pace. While writing, the coin seemed to rise upwards slowly, and we anticipate that the same trend may continue for another few weeks.

EOS Price Analysis & Future Forecast-

Comparing the price of EOS since its lowest point of $3.76 and today, the present trend indicates a bullish run by 7%. By the end of the day tomorrow, EOS may reach its calculated pivot value of $4.17, and after about a month’s time, it can go up to $4.70.

EOS has good capacity to reach $10 by the end of the year, trading in the coin on short term basis may not be that fruitful. Chaikin Money flow indicator reflects an upward movement of the coin. The coin has really bounced back quite well in the last 5 days, and we predict that it may rise further from hereon. If it continues with the same trend, the next major resistance levels can be seen at $4.56 and $4.73 respectively.

5-Day EOS Price Chart-

VeChain (VET) Price Prediction: There is a Relative Stability in The Movement of the Crypto, Launched a Bounty Program for Dapp Developers

Meta Data: VeChain has shown some strengthening in the last couple of days. The long term trend is bullish while the short term is still bearish.

There is a piece of good news for dapp developers as VeChain launched a new bounty program in order to boost decentralized apps development on the blockchain. Additionally, the foundation has decided to launch a VTHO subsidy program. For all those developers who agree on implementing native fee delegation features to their application, the organisation is planning to relaunch an updated VeChainThor Supercharger program.

Current Statistics (July 19, at UTC 09:08):

  • VeChain (VET) vs USD was trading around $0.00558568.
  • Against Bitcoin, the altcoin was valued around 0.00000054 BTC per chip.
  • VeChain (VET) is currently placed at 33rd position in cryptocurrency chart.
  • Additionally, the market capitalisation of the coin was around 309,186,308 USD.
  • On top of that, the 24-hour trading volume in the altcoin was 29,839,263 USD.
  • The number of VeChain chips circulating in the market, at the above mentioned time, was 55,454,734,800 VET.
  • At the time of writing, the return on investment in VeChain was 62.93%, but in the negative.

Comparison:

On June 24, VeChain (VET) was trading around 0.00718071 USD. Nevertheless, over the period of 25-days, the crypto has undergone a substantial decline of 22.21%. In a similar way, the digital coin has made a dip of 18.60%, in a week of trading, from the market price of 0.00679878 USD on July 13. But, the cryptocurrency has strengthened a bit in yesterday’s trading, where it opened around 0.005451 USD and with a strengthening of 5.10%, wrapped the day at 0.005730 USD.

Prediction:

VeChain (VET) has shown some good signs in the last few days, where the crypto has been in the green zone. The coin is expected to go up from these levels and as per our analysis, it will trade around 0.01 USD in the long term. The immediate resistance for the coin is at 0.005892 USD and the support level is at 0.005439 USD.

Conclusion:

The latest announcement of the bounty program will drive a number of potential developers toward the blockchain and ultimately toward the VeChain ecosystem. As far as trends are concerned, the long term is bullish at the current level. However, the short term appears to be an unpredictable one.