What is happening with the market?

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Lately, we have seen only red accents when looking at coinmarketcap.com, coingecko.com or any other cryptocurrency statistics website. Although today the market is looking a lot greener, the general perception of an incoming bull-run hasn’t changed much. There has been a lot of FUD in the crypto community as a lot of bearish tweets of getting out of cryptocurrencies and selling everything have become quite popular. 

On the other hand, the Bitcoin Maximalist camp is looking at this pretty positively, justifying that “many sh*tcoins are dying out,” which, in their opinion, is a particularly good sign. It leaves room for Bitcoin to grow. Whether this is true or not, no one knows, but the fact is that most of the ICOs and cryptocurrency projects from last year have lost 95-97% on average from their all-time high (ATH). 

Top losing altcoins

Source: OnchainFX

In the picture above you can see the top 15 of those coins which have lost the most value. As we can see Zclassic, GameCredits and Ethos are the top losing projects, having lost 99% in value. When looking into Zclassic twitter page, it was surprising to see only 1,862 followers. Their activity also is feeble. The last retweet (not even a post) was published on September 7. Also, there has been only 2 GitHub commits in the last 90 days. That all could lead up to an abandoned project.

However, GameCredits has working products like G-Nation which includes G-Play and G-Share. Their mission is to build a worldwide community for gamers and game publishers. However, looking at the price of GAME it looks like they are not doing that well. Especially, if users can purchase games with GAME, or earn it while playing. It looks like it’s not rather profitable for users to use it. Also, only 10 commits on GitHub in the last 90 days. On the other hand, their Twitter page is booming with followers (30k), and they are continually publishing their updates on the GameCredits Foundation. However, the fair point is that GameCredits are competing with an already established industry leader – Steam. Also, NEO (NEO) and TRON (TRX) are entering the blockchain gaming industry, and those are huge companies. How is that going to work out for GAME – we’ll see.

Speaking about Ethos, they have plans to build a universal wallet for all the cryptocurrencies available — kind of what Coinbase has now. Moreover, their internal token – ETHOS, was supposed to be a facilitator of the platform, by mainly reducing fees and allowing users to access certain services on the platform. Ethos also has lost 99% from their ATH. They claim that 60k users are using their platform with almost 1000 joining in every day. However, the thing is, they are planning to implement a fiat gateway with multiple features, which would lead up to thinking that their token might be dying out.

Bitcoin likes bear markets

Overall, the picture looks dreadful. The question is, whether the investors, who helped these projects to raise money, will ever get their return of investment. That is a good question which possibly is asked multiple times during the day. Especially after these bear moves, the market was performing in the last couple of days. These lows don’t necessarily mean that the market is dying out. Cryptocurrency markets have experienced multiple bear markets, and there is no sign that this should be the last one. The history shows that each one of the previous bear markets leads to even higher prices and larger market caps. Whether this is also going to be like that, we can only wait and guess.

The fact is that by each of these bear markets, the bitcoin price has retreated to a previous all-time high. As we can see in the picture below – this looks exactly the case. Now the question is – whether it might fall even lower – to a different previous ATH. Bitcoin price could fall to a $2000 mark or even lower – to a $1000 mark. Because if we remember, the rise from $1000 to anywhere around $4000 was pretty quick, so we wouldn’t be surprised to see even lower price setbacks.

The market

When looking at how this past year has been treating us – the picture is not so confident as we intended it last year. This was supposed to be the year of privacy coins, but that seems to be postponed till next year. The good thing is – this year has boosted the Bitcoins dominance over other cryptocurrencies. It survived the lowest point of 32% in January when the bear market emerged. Now resting at 53-54% for quite a while. It almost looks like it soon could reach the highs of December 2017 when it was around 67% continuing in a pace like this.

Source: Coinmarketcap.com

A few things that fall into our eyes are that Ripple has overtaken Ethereum in market dominance by almost 3%, which has happened only a couple of times in the history of Ethereum. Also, we can see that Bitcoin Cash is losing dominance pretty steadily and Litecoin somehow stays stable around its 1,5% market dominance.

Source: Coinmarketcap.com

The overall cryptocurrency market cap also had dropped quite significantly from its peak in January when it was $829 billion. Currently, it has suffered a severe drop from $210 billion to $130 billion in these last days. It was going sideways for about three months and now seeing this big of a decline, still kind of draws the descending pattern.

So when bull?

This is probably the most common question among crypto-supporters, and no one can quite answer it. The fact is that after a month we will have suffered a year-long bear market. Is it going to continue? The most realistic outcome in our mind would be that Bitcoin keeps loosing price, but gaining dominance. This bear could stop at $1100, and it also could stop at $2000. By all means, this is just a speculation. The price will rise when people start buying Bitcoin. What will be the most appealing price for people to start buying it? Also, at the moment, assets on this market are not individual. They all fall under Bitcoin, and if Bitcoin price ascends, altcoins follow. So we all have to wait for Bitcoin to make a move. 

Source:

https://messari.io/onchainfx
https://www.tradingview.com/
https://twitter.com/WhalePanda
https://zclassic.org
https://gamecredits.com
https://gn.org
https://twitter.com/gamecredits?lang=en
https://www.ethos.io/token/
https://goo.gl/eN7R95

Photo by Pexels.com

The largest Nordic blockchain summit – Moontec, is right around the corner.

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Starting next week, one of the most prominent summits in the northern Europe region will take place. It is a two-day conference beginning from Monday, November 26 and ending on November 27, respectively. Moontec resides in the Baltic crypto capital – Tallin, Estonia. Last year all the tickets were sold out, and more than 2000 attendants from 30+ countries visited the event. 

Moontec… to the moon?

The event mainly focuses on the development and use cases of blockchain technologies and companies operating with cryptocurrencies. This year will bring a much more organized and selected schedule, and most certainly will draw new areas of interest. From the beginning, Moontec has attracted industry professionals from all around the world. Big companies like Microsoft and IBM is returning to the conference, and this year one of the key speakers is Nicholas Merten, the man behind one of the most popular crypto youtube channels – DataDash. It is most definitely worth to come and see his presentation on “How Cryptocurrencies are Disrupting and Liberating Emerging Markets.”

The crypto capital of the Baltic region

Estonia, in general, has been an early cryptocurrency and digital trend adaptor. Their e-residency platform is fast gaining popularity. It launched on December 1, 2014, and it allows non-Estonians access to Estonian services such as company formation, banking, payment processing, and taxation. It is reasonably easy to use and even more comfortable to form.

Ott Vatter, the deputy director at e-residency, will host the opening speech. Moreover, the subject of e-residency will be widely discussed during the conference day one. Kaspar Korjus, the managing director at e-residency, will speak on several discussion panels about the governments’ ability to support blockchain, and weather e-residency can help countries to scale.

No ICOs this year

This year Moontec has decided not to allow ICO pitches. So there won’t be any ICOs at all presenting their “soon to be” products. They write: “With the majority of Blockchain events becoming ICO pitching arenas, we decided to prohibit ICO promotion on our stages and focus on the technological aspects of Blockchain and its use cases.” We congratulate this decision because we believe that allowing ICOs to present their yet undeveloped ideas to attendants who paid their hard earned money, was not ethically correct.

Industry professionals

Last year Moontec gathered speakers and product stands from prominent tech companies around the world. Such companies as Microsoft, IBM, Hyperledger, Consensys, Lykke and many more were the key attendees.

This year will be no exception as many of these companies are returning to the conference to share their freshly developed ideas. Of course, new companies have joined in like OKEx exchange, CoinJar, Revolut, representatives from NEO blockchain, Lloyds Bank, and even Interpol. So it is safe to say that this year the event will be twice as better as it was last year. Meaning that even more crypto ground gets covered in these two days.

Conclusion

Moontec most certainly looks like a go-to event. It will mostly focus on actual technology rather than discuss the possibilities that future offers. Day one is specifically for regulatory enquires. Members from the European Parliament are expected to present their view on blockchain technologies as well. However, the second day will mainly outline blockchain use cases among many companies.

Best Coin Investments proudly can say that we are the media partners for this event. So we will cover a review after the event and keep you posted about the ongoings within the summit by communicating through our Twitter account.

If you are near Tallin during November 26-27, definitely come and take a look at this event as it will share some of the most profound insights on where the global cryptocurrency market is heading. 


More information

The conference homepage: https://moontec.io/

To book tickets visit: https://moontec.io/registration/

Check the full list of speakers: https://moontec.io/speakers/

Also, the full schedule: https://moontec.io/event-schedule/


Photo by Marlene Leppänen from Pexels.

Blockchain conference in Seattle 2018

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Today a lot of industry specialists will gather in a blockchain conference in Seattle. It is a two-day conference and it will focus on community-building, educating, and showcasing all that the Pacific Northwest offers to the blockchain ecosystem.

Some of the brightest speakers are Joe Roets, the CEO of Dragonchain, Robert Mao, the CEO of Arcblock, Perianne Boring, the Founder and President of Chamber of Digital Commerce and Matthew Roszak who is the Co-founder of Bloq.

The conference will feature series of events like “Women in Blockchain” breakfast or “Developers Academy” workshops for developers and engineers who will teach the attendants how to develop dApps, write smart contracts and more.

Since Bittrex is one of the main sponsors for this event, the company has delegated 3 spokespersons, to talk about series of topics: John Roth (Chief Compliance and Ethics Officer), Kiran Raj (The Chief Strategy Officer) and Katey Harrison (The Director of Digital Assets).

Dragonchain is the presenting partner of this conference and their Certification and Training Architect Tommy Cooksey will be leading the Developers Academy, “he is responsible for collaborating and creating the training tracks, materials, certification tracks, and pilot training programs for the Dragonchain Platform,” reads the description on their website.

The conference agenda is set into five tracks:

1. Blockchain in Business: Use Cases, Proof of Concepts & Pilots

2. Blockchain Tech & Platforms: Building the Best Blockchains

3. Investing in Blockchain

4. Blockchain in the Public Sector

5. Regulatory Environment

And after all this the Developers Academy will take place.

The exhibit hall will feature big-name companies like Bittrex, Arcblock, Neo, Storm, Dragonchain and many more.

Overall the event looks very well organized and up to date. The event is organized by The Blockchain Seattle Community which was founded in 2016 as a meetup group with the objective of educating and connecting the blockchain community. Judging by the information provided, this is going to be the first large-scale event for this Seattle Community, but they have been doing regular events within their Meetup group, which has more than 2,5k followers.

Comment below whether you’re going to attend this event?

Source:
https://blockchainseattle.io/

https://goo.gl/6kZLuu

NEO partners with CertiK

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NEO announced a partnership with Certik, a formal verification platform for smart contracts and blockchain ecosystems. This partnership will enhance the security of the NEO platform. CertiK will provide a tailored solution to verify NEO’s digital assets and digital identity as a whole. 

“NEO is a high-speed autonomous public chain. With more developers building layers on top of it, this added security layer will expedite the prosperity of the ecosystem. I believe NEO and CertiK’s partnership is on track to changing the course of history”, said Zhao Chen, the manager of NEO Global Development.

Source:

https://goo.gl/vWbF3C

NEO enters the era of decentralization

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Yesterday NEO foundation initiated the election of new consensus nodes, starting the era of NEO decentralization. The candidate node run by City of Zion, an independent, international group of open source developers working on the NEO blockchain, got elected as the new consensus node. 

A webpage has been set up on NEO official website for monitoring NEO blockchain status as well as information of consensus node candidates and their voteshttps://neo.org/consensus

Source:

https://neo.org/blog/details/4089