The One Crucial Ingredient for Success That Motivation Can’t Give You

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Some people say motivation is literally the only thing you need to be successful. They say it is the crucial element in setting and attaining goals. But is that really true? A lot of content is produced online that’s aimed to motivate and move you into massive action in the hopes that you’ll finally become successful.

While I do think the intentions behind such claims are noble, most people totally misunderstand how motivation works. More importantly, they’re totally unaware of the real determining factor behind an individual’s success.

Let me start off by debunking a colossal myth about motivation: Motivation equals success. This is not true. Here’s the truth: Motivation does not equal success for you. The only thing that equals success for you is you and the way you develop and rearrange your mind.

You can spend as much time as you like watching, following and investing your money on motivational courses or seminars but there’s no guarantee your life will transform. It’s a great marketing line, but certainly not the way success works.

Yes, your guru knows just how to press the right buttons. Each time he or she speaks and shares a rags to riches story, you feel yourself rising from that pit of despair threatening your very existence. Nonetheless, just writing down those goals or visualizing success is not how results are created in your life. If you’ve been an avid personal development student, this has probably started sinking in.

So am I saying you should abandon your current craving for watching Abraham Hicks and Tony Robbins or those well crafted Goalcast videos? Heck no. These videos and seminars pump you up and keep your fire burning. It’s awesome! There’s absolutely nothing wrong with strategically setting aside some time to regularly feed yourself content that raises your spirits. The problem is when that’s all you do.

“Don’t think, just do.” – Horace

As it so happens, most people are stuck at this point, which is why they see no results even after reading the books, watching the videos and attending the seminars. Sure, a few things may change here and there, but true and permanent transformation – that’s something not enough people are experiencing. And here’s why.

Most people are still missing this crucial ingredient that is fundamental to both permanent transformation and success: True conviction and habit formation. In other words, they lack the belief which forms the habit that results in success.

Your results are determined by your actions. The actions you take are determined by your behavior which is under the direct influence of your habits and as we all know, your habits are not formed through intellectual reasoning or applied force. In fact, your habits and beliefs can’t even be formed instantly.

In other words, it doesn’t matter what anyone else says or does, if your creative mind and powerhouse does not get impressed upon with that idea of riches and success, no physical result will appear.

This is perhaps the one thing most motivational gurus don’t emphasize enough. If they did, we’d see more people invested  in doing “inner work” instead of scrolling through Instagram feeds hungry for another motivational quote.

“Success is no accident. It is hard work, perseverance, learning, studying, sacrifice and most of all, love of what you are doing or learning to do.” – Pele

The point to take home is simply this: Your inner convictions and the habits you form constitute your ruling mental state. After that motivational video is over, and the shot of adrenaline dies out, you’ll jump back into whatever ruling state your mind has set as the default pattern.

Therefore if you truly want to experience the success your gurus are painting for you as a possibility, master the skill of habit formation.

Get good at creating habits that prompt actions that lead to success; develop deep beliefs that serve you and consistently impress your creative powerhouse with the right feeling and the end result will inevitably be success.

Everything else you find externally is at best a clue and at worst a distraction but definitely not “the magical ingredient.” If at all there is such a thing as a magical ingredient to fast track your success, it will only be found by looking within.

So take an honest self-inventory right now. How much time each day goes into feeding your motivational craving, and how much real inner work and habit formation are you invested in?

What is one goal you’d like to succeed in accomplishing before the end of the year? Share with us below!

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FBI: ‘Call Of Duty’ Players Turn To Cryptocurrency Hacking, $3 Million Stolen

‘Call Of Duty’ Gamers Accused In Court Filing, FBI Affidavit

Members of two different industries, the long-standing gaming community and the nascent cryptocurrency world, have recently butted heads, but not in a way that you may immediately assume. According to the Chicago Sun Times, an American media outlet, a consortium of gamers, who primarily played games in the “Call Of Duty” first-person shooter franchise, have turned to malicious acts to get their hands on crypto assets.

Per Chicago-filed court documents, as relayed by local media, the group, which includes men from Dolton, Illinois and Bloomington, Indiana, is suspected of getting their hands on a minimum of $3.3 million in ill-gotten cryptocurrency.

One man from Bloomington, who remains anonymous due to the odd circumstances of this case, explained that he met his hacker peers while playing Call of Duty, presumably through the voice chat function that the video game offers to its users. Interestingly, via a search warrant, it was revealed that the Bloomington-based individual claimed that the other members of the hacking group “forced him to participate” in the swindle.

More specifically, the suspect noted that he was intimidated by the hacker’s threats that they were going to ‘SWAT’ him, which is when attackers lead police and SWAT teams astray by sending them to the place-of-work or home of an unsuspecting victim. Although most of these cases are false alarms and don’t result too much, there have been occasions where victims have been killed by misled authorities due to a misreading of the SWATting occurrences.

To accomplish the hacks, the unwilling participant reportedly received the personal details of hundreds of consumers from other members of the ring, who were attempting to coerce the man into hijacking the mobile devices of victims. As the United States Federal Bureau of Investigation (FBI) later found, the man’s actions resulted in over 100 people losing access to their phones and certain accounts.

Although this may sound like a traditional SIM-swap hack, an FBI affidavit revealed that the employees, founders, and investors of Augur, which manages a prediction DApp that shares its name, were likely being targeted by the hacker outfit. It wasn’t made clear why Augur-associated individuals were targeted, but it can be assumed that the promising crypto startup may have suffered a security breach in the past.

In all, the hacker group has reportedly stolen at least $3.3 million worth of a variety of crypto assets, with $805,000 of that sum reportedly consisting of Augur’s in-house Reputation (REP) tokens. Although moves are being made to solve the case in legal courts, it wasn’t revealed if authorities are taking the proper steps to reclaim the stolen crypto assets, which seemingly remain at large.

While these hackers aren’t anything like North Korea’s shadowed Lazarus Group, who have reportedly stolen upwards of $500 million in crypto assets in the past two years, this unfortunate case indicates that malicious behavior in this space isn’t likely to dissipate any time soon.

Title Image Courtesy of Glenn Carstens-Peters on Unsplash

The post FBI: ‘Call Of Duty’ Players Turn To Cryptocurrency Hacking, $3 Million Stolen appeared first on Ethereum World News.

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NANO Developers Cleared in Lawsuit over BitGrail Hack

NANO (NANO)–NANO, the cryptocurrency formerly known as Raiblocks XRB, has had one of the more historically bad trajectories of the 2018 bear cycle. While the coin experienced a meteoric rise in valuation to close out 2017, one that saw the price of the coin climb from under a dollar to nearly $36 in the span of a month, the aftermath was equally catastrophic.

NANO pricing has continued to decline from hitting an all time high at the beginning of the year, at one point dipping below the one dollar mark to constitute a 98 percent loss in value. However, much the downward price movement has been related to conditions out of the control of both the development team behind the coin and the general enthusiast base for the currency. In addition to being swept up in the hype of the cryptocurrency boom to round out 2017 and kickoff the first few weeks of this year, NANO’s meteoric rise created the toxic, bloated investment conditions that made the coin ripe for such a precipitous fall. Unexpectedly, the coin also went through one of the most severe and high-profile hacks of the 2018 fiscal year. While cryptocurrency thefts and exchange compromises have become a dime a dozen over the years, BitGrail’s hack of $187 million worth of NANO (at the time still trading under Raiblocks XRB) became a bizarre affair of accusations and finger pointing. Ultimately, investors in NANO became the real losers in the aftermath of the hack, with millions of dollars worth of stolen coinage directly impacting the wallets of those affected while introducing massive uncertainty around the currency to drive prices lower.

At the time, exchange founder Francesco Firano blamed the NANO development team for security issues in the coin that allowed for the hack to occur. Unsurprisingly, the NANO team retaliated with their own accusations against Firano and the integrity of the BitGrail exchange and user funds. Neither side was able to come to agreement, and eventually the lawsuit was taken to court in a process that would further taint the brand.

However, NANO also faced a lawsuit by a particular American named Alex Brola, over the role the development team played in inducing investors to buy into the NANO coin ahead of the massive exchange hack. According to court documents filed on Oct. 22, Brola accused NANO devs of prompting him to buy into the coin on the soon to be compromised exchange BitGrail, in addition to claiming that the team was breaching U.S. securities laws by selling unregistered securities.

Similar to the narrative pushed by some NANO investors following the BItGrail hack, Brola pleaded for NANO devs to create a recovery fork that would return affected users their coins, thereby providing some compensation for the victims who lost tens of millions in total. Rather than allowing the case to proceed to trial, U.S. district Judge Nina Gershon dismissed the case (in conjunction to what is being reported as a withdrawal of the complaint by the plaintiff), preventing the NANO development team from being held liable.

The NANO team filed a motion in September claiming that their cryptocurrency could not be classified as a security because the company did not directly profit from insuring the coin or selling directly to investors. In the motion, the team said,

“Nano’s value does not derive from a group of managers or executives managing other people’s property; rather, Nano’s value is derived from its utility or potential utility as a currency,”

The post NANO Developers Cleared in Lawsuit over BitGrail Hack appeared first on Ethereum World News.

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CoinBase to Offer XRP Custodial Services—Will CoinBase Now List XRP?

CoinBase is aggressive. Hours after announcing their support for USDC, another ERC token like ZRX, news is The New York State Department of Financial Services (DFS) has allowed CoinBase Custody Trust Company LLC to operate a “limited purpose trust company”.

As a subsidiary of CoinBase who are the holders of two DFS licenses (Money Transmitter and Virtual Currency licenses) that give them the power to trade, transfer, receive and store different digital assets, the approval took the market by storm. With this, the CoinBase Custody Trust Company LLC will at any time offer custodial services for the six different cryptocurrencies—including XRP and those listed at the exchange including Litecoin and Ethereum Classic. However there is no mention of whether ZRX will be supported by CoinBase new custodial services.

While acknowledging the grant, Asiff Hirji, President and COO of CoinBase said:

“The New York Department of Financial Services has proven itself to be a strong advocate in its support for the responsible growth of the cryptocurrency industry. The New York State Limited Purpose Trust charter, which now enables CoinBase Custody to act as a Qualified Custodian for crypto assets, builds on our unparalleled success as a crypto custodian”

Judging by their recent acceleration of coin offering, CoinBase are changing their previous methodical and prudent approach. Though this may be in response to increasing competition and demands from their 5 million customers in the US alone, there recent activities is good for the market. Not only will it increase widespread adoption but by opening new channels of funding, the whole space benefits from deep liquidity and directly tempers the market making it even more attractive for institutional grade investors.

Related News: Ripple’s XRP Instantly Recovers: Latest Opinions and News

Institutional Involvement: CoinBase New York Offices

In August, Ethereum World News reported that CoinBase planned to more than double their New York office employees from 250 to 500. As CoinBase places themselves strategically to tap in institutional involvement as regulation thaws, the New York  office is specifically set in place to cater and appeal to institution and high net worth crypto curious investors.

According to Adam White, there are many investors keen on entering the space. He said:

“When we saw the market begin to correct, which we all expected, institutions didn’t lose interest. It was exactly the opposite… They look at it as an opportunity to enter when things are not too frothy.”

Will CoinBase List XRP? Let Us know your Thoughts.

The post CoinBase to Offer XRP Custodial Services—Will CoinBase Now List XRP? appeared first on Ethereum World News.

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Coinbase Lists Ethereum-Based USDC, Circle Pulls Ahead In Stablecoin Race

Coinbase Lists Circle-Backed Stablecoin

After weeks of uncertainty regarding the financial security and future of the Tether (USDT) stablecoin project, an amassment of prominent crypto-centric startups released their own stablecoins, which are a form of cryptocurrency that is directly tied to the value of a non-blockchain-based asset. Boston-based Circle and the Winklevoss Twins-backed Gemini Trust were among the multitude of firms that released their own USD-backed projects, with the former firm releasing USD Coin (USDC).

Contrary to what many would initially assume, a lesser-known player in the stablecoin subsector, the Paxos Standard (PAX), quickly garnered traction. Data compiled by The Block indicating that PAX’s market capitalization swelled exponentially within two weeks, while Gemini’s GUSD and Circle’s USD Coin saw relative non-action.

The unprecedented rise left many investors asking — what’s next for other stablecoin hopefuls?

On Tuesday, Coinbase, seemingly responding to the question put forward by investors, unexpectedly revealed that it had formally listed USDC from Circle, the aforementioned financial-technology company.

In a press release pertaining to the matter, the to-be $8 billion startup revealed that Coinbase clients in “supported jurisdictions” will be able to purchase, sell, and receive Circle’s cryptocurrency via Coinbase.com or the startup’s iOS or Android applications. For now, only U.S. customers outside of New York state will be able to utilize USDC, but Coinbase added — “more geographies will be available in the future.”

The cryptocurrency platform revealed that today’s launch was catalyzed by a collaboration between Coinbase and Circle, who are both co-founders of the recently-launched CENTRE Consortium, which is a group aiming to bolster the adoption and use of regulated stablecoins. Explaining more of the rationale behind the listing, the startup wrote:

Both Coinbase and Circle operate with a compliance-first approach and a track record of security. That’s why we believe CENTRE is uniquely positioned to offer USDC to people who want to take advantage of the benefits of stablecoins.

USD Coin, interestingly enough, is the second ERC-20 digital asset that the world-renowned startup has listed in the past few weeks. So, taking into account that Coinbase had just added 0x (ZRX) and the aforementioned stablecoin, it can be assumed that the firm is making moves to expand its token horizons in the near future.

It is important to note that the San Francisco-based startup revealed that it will be multiple weeks before stablecoin gains a listing spot on Coinbase Pro, the startup’s exchange platform for professional traders, likely due to pertinent technological or systematic constraints or hurdles.

Ethereum Proponent Remains Skeptical Of USDC

However, despite this positive move, which saw USDC’s market capitalization gain over $15 million since Coinbase revealed its addition of asset, some remained skeptical of the upstart in the stablecoin subset.

Eric Conner, who, as self-described, has been “educating Ethereum skeptics since 2014,” pointed out that there is a backdoor in the USDC stablecoin that allows anyone with access to a Circle-owned wallet to blacklist Ethereum addresses to freeze their stablecoin funds.

Although Circle isn’t likely to use this feature on the day-to-day, some fear that this backdoor poses a threat to the decentralized nature of USDC, as any malicious actor or governmental body could theoretically seek to destroy the USD Coin ecosystem and the traders that use the asset.

Title Image Courtesy of Marco Verch via Flickr

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Albania Already Working on Cryptocurrency Regulatory Framework: Prime-Minister

With the target to create a crypto-friendly legislation environment while parallel showcase better and improved competitiveness/leadership in the Balkan Region of Europe, Prime Minister of Albania Edi Rama highlighted out that the gov is open to new developments and ways to attract investments.

According to TiranaTimes – On October 22nd, Mr. Rama noted how Albania could become a hub of potential for investors to target and be part of the revolution that virtual money could bring. The officials are working on drafts and assessments to introduce regulation proposals already.

“As part of our effort to open up new markets and create new opportunities for well-paid jobs and qualified people… we are exploring the possibility of setting up a regulatory framework on cryptocurrency which is a shocking novelty nowadays and where the opportunity to be innovative and set up a center of gravity for innovative financial markets is open for every country despite their level of development,” says Prime Minister Edi Rama.

“For the moment, we are assessing and working on the drafting of a regulatory framework after having conducted a thorough analysis and study. If the results are satisfactory, then we will promote even outside Albania, the country’s willingness to become a hub for numerous potential investors that target getting involved in this revolution of global finances,” Rama said last weekend, speaking at a ceremony on the launch of the Albania-Italy offshore section of the major Trans Adriatic Pipeline bringing Caspian gas to Europe.

Despite the yearly long tanking and negative stance held by Albania’s Central Bank, this marks a date of embarking into a new page of workforce modernization. The ACB and the Financial Supervision Authority continuously warned traders or investors of crypto-risks and it never licensed a firm to issue its virtual coin.

Based on the comments, it is well understood that the country’s government is aiming to become the next Island of Malta which offers a friendly-regulated space for cryptocurrencies startups and firms in general.

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More Platforms are Implementing Hard Forks to Fight ASICs

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The months-long decrease in market values has done little to slow crypto development, and more than ever corporate and enterprise players are controlling Proof-of-Work (PoW) mining. The primary tool of these institutions is application specific integrated circuits (ASICs), the use of which is one of the most contentious issues in the crypto space. Platform teams are, for the most part, opposed to the use of these devices, and have now begun to resort to hard forks to prevent their proliferation. Nevertheless, the ASICs debate is becoming more complex, as teams begin to take unique approaches to halt their use.

As we have previously covered, ASICs are powerful, single function chips that enable very efficient mining. They have been used on Bitcoin for several years, which over time has enabled a small number of pools to control most of the network hash rate. This situation has reduced the decentralized nature of Bitcoin’s consensus mechanism, and has also made most small-scale mining unprofitable. The only sure way to stop ASICs is to adopt a new mining algorithm via a hard fork.

Earlier this week Monero implemented a hard fork that introduced bulletproofs into the protocol. This move has substantially improved Monero’s efficiency, and reduced transactions fees. This fork also introduced RandomJS, a new mining algorithm that developers claim is incompatible with the use of ASICs.

Similar to the situation with Monero, Siacoin has been forced to address the ASIC issue, and has a hard fork planned for October 31st. Unlike Monero, the Siacoin team is not entirely against the use of ASICs. In fact, it has partnered with hardware manufacturer Obelisk to sell a Siacoin version. Rather, the upcoming fork will render useless ASICs used by Bitmain and Innosilicon. Siacoin’s lead developer, David Vorick, asserts that these companies have behaved unethically, and are harmful to the Siacoin network. However, Vorick is also the CEO of Obelisk, which will see its devices unaffected.  

In some instances, the use of ASICs remains secretive, or unconfirmed. Verge and Vertcoin use the Lyra2rev2 algorithm, for which ASICs have been announced, but network difficulty for these coins has yet to confirm such use. Also, a new generation of advanced ASICs has been announced for Ethereum, but are not believed to be actively mining. In all cases there is a strong voice among advocates to fork before such devices can become widespread. Verge has yet to address the issue, and Vertcoin will soon fork and adopt a new algorithm, Verthash. Ethereum’s team has stated that it is too late to include an algorithm change in its upcoming Constantinople fork, but such a move may be made in the future.

Hard forks are a clear message by development teams that extreme measures will be taken to stop ASICs from becoming widespread among altcoins. Many hope that the mere threat of a fork will be enough to dissuade ASIC developers, as the devices are very expensive to design and produce. Nevertheless, as crypto values are expected to grow, so too will be the desire for miners to generate increasing hash power. To that end, it is unlikely that the ASIC issue will soon be resolved.

 

Featured Image via BigStock.

10 Lessons for Bootstrapping Your Startup to $1M Annual Revenue

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In an entrepreneurial landscape dominated by headlines of unicorn startups and billion-dollar acquisitions, getting a company to $1 million in annual recurring revenue (ARR) may sound like small change. Let’s be real, though, hitting $1 million ARR is an aspirational milestone most young companies can relate to. And it’s not that easy, especially if you’ve secured modest investments or no investment at all.

The software-as-a-service (SaaS) company I work for falls in the latter category. We’ve never raised a single investment dollar, and it took us four years to reach the $1 million ARR threshold. It was a wild four years. Frustrating, fun, scary: you name the emotion, and we’ve felt it.

But more than anything, it was an instructive four years. We learned so much, and we want to share a few helpful tidbits with our peers out there in the trenches, scratching and clawing your way to your next big milestone.

Here are 10 things we think are most important that you can use in your own start-up journey:

1. Don’t quit

Steve Jobs famously said that the difference between those who make it and those who don’t is perseverance. At one point I remember hearing “Folks, I don’t know if we’re going to be here next month.”

It’s frightening not to know where you’re going to be next month, but you have to continuously figure out how to get a few more customers and extend your runway. You can’t “make it” or succeed if you don’t exist, so you can’t quit.

2. Give your customers everything

At the company I work for, Text Request, we spent hours with our customers. We built whatever they asked for (if it fit with our goals and other customers could use it too). We also gave away a lot of free software.

If you want to grow and gain customers, you have to create a needed product that solves your target customers’ problems. Determine who your target customers are, ask them what they need, and then tailor your solutions for them.

3. Try everything you can think of

The book Traction by Gabriel Weinberg and Justin Mares covers 19 sales and marketing channels for startups to test. We tried all of them. We went to events. We advertised. We started a referral program.

For us, cold calls and cold emails worked surprisingly well. We took an industry, looked for companies in a given city, and reached out to set up product demos. Organic search has increasingly helped our sales funnel, too.

Either of those could be the best plan for you, or it could be advertising in a particular channel. Every startup is different and targets a different niche, but you’ll only find successful strategies and channels for growth by testing all your options.

4. Focus on the basics

When you focus on doing the basics, opportunities open up. When you commit to SEO basics, your targets will find you online, and a big fish will occasionally swim by. When you provide fantastic customer service, a few users will leave reviews and tell their friends. When you keep your head down and do the work, eventually you’ll look up and have hit a big milestone.

5. Get the right people on your bus

This is one of the critical lessons from Jim Collins’ Good to Great. Thankfully, our small team had the right people from the beginning. Brian and Jamey Elrod, our husband and wife co-founders, had already started a successful company from scratch (Educational Outfitters). Our third co-founder Rob Reagan has created software for twenty years and published a book last year on building apps for global scale.

Rob brought a couple of top-notch developers with him, and the rest of us showed up determined to figure the business out. If you’re going to take a company from $0 to $1 million, every member of your team has to be dedicated to working together for the long-term benefit of the company over self-interest.

“Coming together is a beginning. Keeping together is progress. Working together is success.” – Henry Ford

There’s always something that keeps entrepreneurs up at night, but you can put the questions below to rest:

1. How do you build it fast enough?

In the early days, we worried about losing a customer because we didn’t have [X]. It was stressful knowing that So-and-So would move on to the next option if we couldn’t deliver fast enough, and many times they did. But that doesn’t matter.

Losing one customer isn’t worth pushing out a faulty product. Despite the pervasive Lean Startup mindset, it’s more important to your customers that you create needed features (read: solutions) that work great the first time. They have to trust that you’ll give them the tools they need to accomplish their goals, or they’ll leave.

2. How do you keep customers longer?

Our support is perhaps our #1 competitive advantage. One of the things we’ve learned is that a lower price, and sometimes even new features, won’t keep customers around longer.

To keep your customers from churning, you’ve got to do two things: First, provide a smooth onboarding process that immediately teaches customers how to gain value (solve their problems) with your product. Otherwise, they won’t pick it up, and they’ll eventually leave.

Second, always be there with kind words and helpful content whenever a customer needs help. If you aren’t, they’ll get frustrated and find someone else to help them.

“People do not care how much you know until they know how much you care.” – Teddy Roosevelt

3. How do you get people to your website?

Advertising might be a good option, but if targets aren’t already thinking about what you can do for them, they probably won’t care about your ad or purchase. Instead, create content to educate viewers and help them solve their problems.

Focus on growing your organic traffic, becoming a trustworthy source, and honing your brand’s voice before spending lots of money on ads.

4. Do you need investment money?

When you’re floating in the middle of the ocean, you’ll do anything for a ship to pick you up. But sometimes you just need to swim. We chose to swim, and you might want to do the same.

When every dollar spent has to fight to prove its worth, you’re inevitably going to build something more valuable and more sustainable. Plus, bootstrapping gives you more control over what decisions you do make to grow your company.

5. How do you pursue 10X growth?

A growth hack is not going to propel you from 100 customers to 10,000 overnight. It doesn’t take one trick, but lots of little and big things working together to create exponential growth. It also takes time.

Instead of looking for a golden goose, create complete and actionable strategies. Those, and a little patience, will help you achieve exponential growth.

Growing your startup to $1 million ARR is not easy, but it’s possible – even without investors lining up to give you money. Put the 10 lessons above into practice, and, with a little time and a lot of work, you’ll get there.

Is there a business you’d like to start or have started? Share your ideas and suggestions for our readers!

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Bitcoin (BTC) Price Analysis: Which Way Will It Break?

Bitcoin is still trading inside its descending triangle on the 4-hour time frame and consolidating just below resistance. A break past the $6,500 resistance could be enough to confirm that bulls have won over and that a longer-term uptrend is underway.

However, the 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. In other words, resistance is more likely to hold than to break. The 200 SMA is also just above the triangle top to add to its strength as a ceiling. If it keeps gains in check, price could fall back to the triangle bottom around $6,150.

Stochastic looks ready to turn higher without hitting the oversold region, indicating that buyers are eager to return. RSI is turning lower to signal that bears still have the upper hand and could continue to push bitcoin south. A break below support could spur a drop that’s the same height as the long-term triangle pattern.

Warnings that another bitcoin bubble may be just around the corner could be discouraging bulls from charging, even with a handful of positive updates that would likely keep price supported. CEO of Civic Vinny Lingham says:

“Do I think we’ll have another bubble? Probably, because people just don’t learn. Once it broke through $20k, it would run to over $100k and then we have the start of a new bubble-bust cycle.”

On more positive news, the launch of bitcoin futures on ICE Bakkt is approaching, possibly spurring stronger inflows and more volatility. However, traders are also wary of how the launch of CME bitcoin futures last year may have spurred the huge drop as it opened the cryptocurrency to short positions. Bakkt could begin offering physically settled bitcoin futures contracts in December 12.

The post Bitcoin (BTC) Price Analysis: Which Way Will It Break? appeared first on Ethereum World News.

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JPMorgan Predicts U.S. Recession by 2020, Could Signal Bullish Return for Bitcoin

Cryptocurrency, Bitcoin (BTC), U.S. Markets–On Oct 18, Bloomberg ran a report on a model produced by large financial institution JPMorgan claiming that the U.S. market has a 60 percent chance of entering a recession over the next two years, leading some to wonder how such a shift would impact the industry and marketplace of cryptocurrency.

While the chance of a U.S. recession is 28 percent according to the model over the next year, that figure more than doubles to 60 percent over the next two years and, even more troubling, 80 percent within the next three years. It’s clear, given the overwhelming statistic cited, that the major banking institution is putting their weight behind the odds of a recession occurring on the near horizon.

While JPMorgan’s note did not include specifics on the magnitude of the recession, and how it would compare to that of 2008’s meltdown of both the traditional stock market and that of the U.S. housing market–a recession which eventually extended to global markets–it’s clear that that another recession will have implications for numerous sectors, including that of cryptocurrency. JPMorgan’s model included “indicators ranging from consumer and business sentiment to prime-age male labor participation, compensation growth, and durables and structures as a share of gross domestic product,” and ultimately came to a more pessimistic conclusion than that of the recession tracker presented by the Federal Reserve Bank of new York. Compared to the 28 percent chance of recession in the next year that JPMorgan determined , the Federal Reserve Bank is calling for only a 14.5 percent.

However, according to an article by CCN, numerous economists are echoing the data of JPMorgan, with the expectation forming that a recession is likely to occur by 2020. According to the Federal Reserve Bank of Atlanta, two out of every three business economists in the United States expect a recession to occur by the end of 2020, with the primary cause being cited as due to trade issues.

Given the tug of war nature between the traditional financial markets and that of cryptocurrency, the thought is growing that crypto may become the alternative investment to watch  in filling the void of a slump in stock and equity markets. While cryptocurrency is about to enter the eleventh month of an ongoing bear cycle that followed the boom in crypto pricing to end 2017, adoption and general recognition for the industry of blockchain and cryptocurrency assets has grown during that time. More and more banks are developing infrastructure to incorporate investment into cryptocurrency, with the potential Securities and Exchange Commission ruling over Bitcoin Exchange Traded Funds coming by the end of the year–a move that could signal an influx of institutional investing.

In addition, respected companies such as IBM, Volkswagen and PNC Bank have been tied to blockchain or cryptocurrency based projects, leading to a greater perception that the technology is permeating industry in a positive direction. Even Facebook, the social networking goliath which instituted a crypto-based ad ban that it subsequently overturned, has been tied to rumors of a potential crypto partnership with Stellar XLM (rumors that were denied by the company in the aftermath).

Cryptocurrency has a real potential as both an appreciating digital asset and decentralized currency of benefiting from a U.S. recession, particularly if institutional investors are looking to safeguard themselves in the coming volatility of traditional markets.

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