P2P Bitcoin Trading Undergoes Sharp Rise in Venezuela, Outvalues Stock Exchange Trading by 157X

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Hard hit by hyperinflation, an increasing number of Venezuelan citizens are now turning to Bitcoin to preserve the value of their money.

It’s a desperate measure triggered by a desperate situation as the downward spiraling domestic economy renders the country’s sovereign fiat Bolivar practically worthless.

30% Hike in Bitcoin Trading

Peer-to-peer Bitcoin trading in the South American nation has witnessed a major surge of late with crypto data tracker CoinDance reporting a 30% spike in trading volume in the last week alone.

That’s 2,454 Bitcoin, or approximately $8.95 million, changing hands per week through the informal crypto economy that the government has no direct control over.

This new development fits well within the general consensus that countries with relatively weaker economies are currently spearheading crypto adoption.

The trend is visible across the world and more prominently so in Latin America as the region continues to struggle against an economic slowdown with no immediate sign of reprisal.

As for Venezuela, a country infested with massive political unrest on top of the lingering economic crisis, its homegrown P2P Bitcoin market is currently 157-times bigger than the trading volume of its largest stock exchange.

According to Kevin Rooke, a prominent YouTube vlogger, and cryptocurrency commentator, the trading volume in Venezuela’s top stock exchange stood at just about $8,117 on Feb 8, which is practically peanuts compared to the average daily transaction of $1.28 million in the country’s P2P Bitcoin market.

Maduro Goes Out of His Way to Backstab Petro

President Maduro is often criticized as the leader whose corrupt and faulty economic policies pushed Venezuela into a seemingly bottomless pit of economic distress.

While that may very well be the case according to most renowned global economists, Maduro’s supporters hailed his move to launch a national cryptocurrency backed by the country’s oil reserves as groundbreaking.

They thought Petro could finally be the answer that brings some relief to the stressed-out domestic economy.

Despite high hopes in some quarters, a global backlash led by the United States (and backed by Venezuela’s opposition parties) ensured Petro’s inevitable doom. And to add more to its woes, it turns out Maduro himself is doing no favor to the national cryptocurrency by raising taxes on all Petro transactions.

According to a recent announcement published in the government mouthpiece Gazette (issue 41581), all transactions involving Petro and other cryptocurrencies will incur a 15% tax.

To quote the country’s National Superintendence of Crypto Assets and Related Activities (SUNCRIP):

“The sender of the remittances referred to in this ruling is obliged to pay a financial commission in favor of SUNCRIP up to a maximum amount of 15% calculated on the total of the remittance.”

In all likelihood, Maduro’s new move could push more Venezuelans to turn to P2P Bitcoin trading if it helps them avoid this newly enforced absurd regulatory framework involving digital assets.

P2P Bitcoin Trading Undergoes Sharp Rise in Venezuela, Outvalues Stock Exchange Trading by 157X was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

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DCG CEO: Bitcoin Remains King and Many Altcoins Will Fail

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The bear market could signal the end of several cryptocurrency projects, claims an industry expert.

The CEO and founder of Digital Currency Group and Grayscale Investments, Barry Silbert, said that the majority of cryptocurrencies would eventually be worthless except Bitcoin, reported CNBC on Feb. 14.

His reasoning stems from the belief that some altcoins will be eliminated because they have no real use cases.

Altcoins Will Go to Zero

The rise of initial coin offerings (ICOs) played a significant role in raising the market capitalization of the entire crypto market to more than $800 billion in January last year, partly driven by the skyrocketing price of Bitcoin.

In the midst of the buying mania, ICOs became the de-facto methods of raising capital from retail investors who were ready to splash their money on projects that claimed to have a blockchain background.

The investors bought into projects without even a minimum viable product (MVP) or some that were outright scams.

Silbert said:

“Almost every ICO was just an attempt to raise money but there was no use for the underlying token. The vast majority of what’s out there will be eliminated.”

Silbert thinks that the elimination of unwanted projects is already underway as the U.S. Securities and Exchange Commission (SEC) is cracking down on ICOs that it accuses of violating securities laws.

Silbert is in support of the SEC’s actions as he feels some of the tokens sold were illegal offerings.

Bullish on Bitcoin

Silbert claims that he is still “as bullish as he has ever been” on Bitcoin. He is an early investor who has lived through several booms and busts.

Bitcoin is only a decade old and has already seen three plunges of 80 percent or more.

However, it is yet to recover from the current plunge that has proven to be the longest and with devastating effects as well.

While Bitcoin is swimming in dangerous waters from a technical perspective, Silbert says that institutions show a higher degree of interest in the market.

It is ironic that Bitcoin which was earlier thought of as an investment class for the small guy is now relying on the entry of institutions to drive the growth of its price.

Digital Currency Group, the parent company of the world’s largest crypto investment firm Grayscale is the leading seed investor in the industry and has invested three times as much as Andreessen Horowitz.

Silbert sees Bitcoin’s potential of being a better store of value than gold.

“As far as I’m concerned bitcoin has won the race to be digital gold,” he said. He further claims that most of the money held in gold will be transferred to Bitcoin.

Silbert says that the infrastructure to lure institutions in the crypto space is already in place and these include Fidelity’s custody solution.

Silbert said:

“There are certainly institutional investors that have put money to work and many more are considering it. Until now they wanted to make sure they’re not catching a falling knife.”

DCG CEO: Bitcoin Remains King and Many Altcoins Will Fail was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

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JP Morgan Set to Launch its Own Native Cryptocurrency for Cross-Border Payments

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Hong Kong, January 2, 2019 J.P. Morgan in Hong Kong. An American investment bank and financial services company. - Image

Banking giant JP Morgan is ready to launch a trial on a blockchain-based international remittance system, according to a report by CNBC.

JP Morgan’s Token Will Function Like Stablecoins

The cryptocurrency, dubbed “JPM Coin,” will be pegged to the US dollar in a 1:1 ratio similar to stablecoins.

JP Morgan processes a whopping $6 trillion through its wholesale payments business every day.

It plans to push a small fraction of that amount through the digital token, in the trial which will start in the coming months.

The JPM Coin will only be available to accredited institutions approved by regulators, such as major corporations and other banks.

Omar Farooq, JP Morgan’s head for blockchain projects, says that the potential for applications using distributed ledger technology is endless.

However, JPM Coin will have a threefold purpose initially.

The Three Core Use Cases of JPM Coin

The trial will give JP Morgan the opportunity to research how the blockchain will improve the currently cumbersome wire transfers.

The digital token will enable real-time settlement times, unlike the existing SWIFT system that can take days, allowing corporations to execute cross-border payments at any time during the day.

Additionally, JP Morgan’s native cryptocurrency will be used for securities transactions.

When trading securities, fast execution is highly essential to avoid time discrepancies between settlement and payment, an existing issue that blockchain technology will eliminate.

The JPM Coin will also enable large corporations to tokenize their fiat currencies, that were previously held by their subsidiaries around the world.

This use for JP Morgan’s treasury services customers, improves the liquidity of their cash flow, allowing companies to fuel their departments easily without having to move cash internationally through wire transfers.

Moreover, according to Farooq, corporations will be able to obtain better rates by consolidating their money.

JP Morgan – From A Naysayer to a Crypto Leader Bank

When JPM coin goes live, it will lay JP Morgan as a first-mover for real-life blockchain applications in the banking sector.

Farooq is confident that the large market share JP Morgan holds in corporate payments, will give its technology a big chance of getting widely adopted.

Ironically, JP Morgan was seen as one of the biggest Bitcoin opposers when its CEO Jamie Dimon openly referred to it as being a fraud in 2017.

He quickly came around a few months later to regret his previous claim and say that the blockchain is real.

JP Morgan Set to Launch its Own Native Cryptocurrency for Cross-Border Payments was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

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Binance CFO Says the Cryptocurrency Exchange is Still Profitable Despite the Bear Market

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Wei Zhou, the chief financial officer (CFO) of Binance says that the cryptocurrency exchange has managed to make profits despite the declining prices of digital assets, as reported by CNBC on Valentine’s Day.

The on-going bear market, now christened the crypto winter, has seen many startups in the industry close shop and employees leaving their jobs.

CoinMarketCap data show that Binance is the world’s largest cryptocurrency exchange by trading volume.

Still Profitable

Many companies are struggling to stay afloat after the prices of digital assets, notably Bitcoin, plunged since the beginning of last year in what some have described as “the bursting of the bubble.”

The price of Bitcoin, the original cryptocurrency declined from nearly $20,000 in late December 2017 to under $3,700 by Dec. 31, 2018.

Despite the digital asset surrendering the gains it achieved in 2017, Binance has managed to stay warm amid the crypto winter.

In a phone interview with CNBC on Feb. 13, Zhou stated that the exchange is running a profitable business, something that a number of crypto companies consider a distant dream.

“To date, even in this bear market, we still run a profitable business,” said Zhou.

The firm does not publicize its financials to back up its claims, but independent investigations from some media outlets estimate the exchange’s profits from 2018 to be in the region of $446 million.

The independent analysis is based on how much the exchange spent on buying back its BNB tokens.

The exchange’s founder and CEO, Changpeng Zhao told Bloomberg in July that the firm was targeting profits of anywhere between $500 million and $1 billion last year.

These, by any standards, are lofty ambitions for a startup that was only founded in 2017 and managed to raise $15 million in its initial coin offering (ICO).

Binance’s IPO Plans and Mergers and Acquisitions

A handful of companies in the crypto space, especially in the mining segment, have at least weighed on the possibility of going public. Examples include Bitmain, Canaan, and Ebang International.

Zhou downplayed the possibility of Binance seeking a stock market listing but did not dismiss the idea altogether.

He rather opted for the safer route and said that the company has “no plans” to go public in the short term.

In the meantime, it is safe to say that the exchange won’t be listed on any stock market.

With regards to mergers and acquisitions, Zhou said the company is:

“Always on the lookout for high-quality products.”

In its first-ever acquisition deal, Binance bought Trust Wallet, but the financial details were not disclosed.

However, it was later reported that the purchase was made using a mixture of cash, company stock, and BNB tokens.

“As Binance’s first public acquisition, we hope to continue providing our users with improved security, services and support,” the exchange said about the acquisition at the time.

Binance CFO Says the Cryptocurrency Exchange is Still Profitable Despite the Bear Market was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

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Preston North End v Nottingham Forest: Betting Preview

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Nottingham Forest go into this weekend’s away tie against Preston North End as 3/1 outsiders which some may think is a terrific price, particularly because The Reds are in fact four places and three points above the home side.

One thing to bear in mind, however, is that Forest haven’t won an away fixture since November 2018, when they beat Hull City 2-0.

But with four points under the belt in the last week and that away fixture duck needing to be broken at some point, there may be no better opportunity to pick up another three points on the road than this weekend.

Full Time Result

Preston North End – 19/20
Draw – 5/2
Nottingham Forest – 14/5

Both teams have scored in three out of Forest’s last five fixtures, which could indicate that goals are on the way on Saturday afternoon – check out the latest odds from BetBright below…

Both Teams To Score

Yes – 8/11
No – 19/20

Total Goals Over/Under

Under (0.5) – 8/1
Under (1.5) – 12/5
Under (2.5) – 17/20
Over (2.5) – 10/11
Over (3.5) – 23/10
Over (4.5) – 5/1

Ryan Yates picked up his second Man of the Match award on his second start, against West Brom during the week and even managed to get his name on the scoresheet; with plenty of goal scorers at his disposal, Martin O’Neill will be hoping that a few can find the back of the net against Preston North End on Saturday.

Backing someone to score at the Deepdale Stadium on Saturday? Read the latest odds from BetBright, below…

First Goalscorer

Grabban, L – 13/2
Murphy, Daryl – 7/1
Cash, M – 9/1
Lolley, J – 9/1
Carvalho, J – 11/1

Anytime Goalscorer

Grabban, L – 2/1
Murphy, Daryl – 11/5
Cash, M – 14/5
Lolley, J – 14/5
Carvalho, J – 10/3

#BrightBundles – Build your same game accumulator with BetBright

With BetBright’s new football product, #BrightBundles, you can create your own single match accumulator!

Here are just a couple of examples of the #BrightBundles you can place on Preston North End v Nottingham Forest in the Championship this weekend.

• Nottingham Forest to win, Lewis Grabban to score and the woodwork to be hit – 11/2
• Over 2.5 goals, over 8.5 corners and a penalty to eb awarded – 8/1
• Nottingham Forest to win and Preston North End to receive over 39.5 booking points – 12/21.

Bet on Nottingham Forest

 
Odds are provided at time of writing, please check your betslip to confirm they have not changed before betting.

The post Preston North End v Nottingham Forest: Betting Preview appeared first on BetBright Blog.

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Side with Killultagh Vic to Capitalise on Red Mills Opening

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Presenting Percy is already a Superstar name among the purist Cheltenham fraternity in Ireland and the UK and perhaps rightly so, as a dual Cheltenham Festival winner hailing from a small but popular yard.

As the 2019 Gold Cup Jolly was due to put the finishing touches on his preparations for a seeming date with destiny on Friday 15th of March, confidence couldn’t have been higher in the air around the horse approaching this weekend. On Friday morning though, news emerged he would not be declared for his prep run in the Red Mills Chase, which means he may now go straight to the Gold Cup as favourite, without having had a run over fences all season.

This time last year, Pat Kelly’s 8yo gelding was beaten by the ill-fated Our Duke when he was in receipt of 7lb from that horse. It was a quality effort in its own right, an enjoyable horse race and ultimately led to him improving on it handsomely to win the RSA Chase in style. Following an excellent win over hurdles here last time out, this seemed to be the ideal stepping stone to a third Festival success under his partner in crime Davy Russell.

As to the horse’s current health status, I am yet to hear, but we can only hope he is sound and remains on track.

As a punter and in respect of the uniquely gruelling test a Cheltenham Gold Cup is, you’d have to harbour real concerns about his experience and profile going into the race now, given he hasn’t jumped a fence in public since the RSA Chase. It is a shame we don’t get to see this somewhat mythical creature perform on Saturday, but fingers crossed for a speedy return.

Gowran Park – 2.30pm

Willie Mullins has won the Red Mills Chase three times in the past ten years, all with strong market leaders and perhaps 11yo KILLULTAGH VIC can earn a timely victory in 2019 as a likely second favourite behind Monalee.

A talented but quirky veteran, Killultagh was held in 3rd by Presenting Percy last time out, but ran to a far more promising level than a poor effort on New Year’s Eve at Punchestown.

Here, larger obstacles, a shorter trip and a favourable pull at the weights with his chief threat make him of major interest under Ruby Walsh. Monalee is clearly a grand chaser, just not one I’ve warmed to, while Edwulf needs a telling revival here to be considered a player at this level going forward. Anibale Fly ran to an RPR of 132 last time out and is vulnerable looking now too. Killultagh Vic deserves to land a nice pot and I can envisage him out-battling Monalee from the back of the last to the line in the 3.05pm showpiece chase.

Gowran Park – 1.50pm

Earlier on in the card at 1.50pm, Triumph Hurdle winner Farclas looks to get a win on the board in the Grade 3 Red Mills Trial Hurdle over two miles. He was 25 lengths behind Apple’s Jade last time out, which puts paid to any realistic Champion Hurdle hopes, but he wouldn’t need to improve massively on that to go close here.

Last year’s winner Forge Meadow hasn’t been quite the same horse since and looks up against it to me. Although his Naas run in January was a step in right direction, it still leaves him with a bit to do and he was readily held in 4th behind Espoir D’Allen. All told, Joseph O’Brien’s unexposed French recruit DARASSO may prove the one to be on. A strongly built sort now rated 149, this 6yo has shaped with good promise over 2m4f and 3m in his two starts in Ireland so far and this drop to two miles rates an interesting experiment.

You can read more from Kevin O’Malley and find the latest form, racecards, free tips & news on GG.CO.UK.

Bet on Horse Racing

 
Odds are provided at time of writing, please check your betslip to confirm they have not changed before betting.

The post Side with Killultagh Vic to Capitalise on Red Mills Opening appeared first on BetBright Blog.

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Familiar issues for Barcelona opening the door for Real Madrid and others at the top of La Liga

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Only a few weeks ago, Barcelona had started to tie the blaugrana ribbons on the Liga trophy. Their win over Getafe in the first game back after the short winter break observed in Spain put them five points clear at the top of the table, but perhaps most significantly it extended their advantage over rivals Real Madrid to a giant 10 points.

At that point, it seemed difficult to envisage how a title race could be reignited at the top of the Liga table. However, a lot has changed since then. After the busiest and most hectic period in the Spanish football calendar, the picture has shifted. Of late, many newspapers have run the headline ‘Hay Liga!’ – roughly translated to ‘There is a League!’

Of the past six games Barcelona have played in all competitions, they have won just two. They have drawn three in a row, dropping four points in two matches against Valencia and Athletic Bilbao. Meanwhile, Real Madrid have won seven of their last eight games, lifting them from fourth place to second. The gap between first and second now stands at just six points.

Indeed, Santiago Solari’s Real Madrid side look rejuvenated. The rise of Vinicius Junior has energised a club that looked on the brink of crisis at the start of the year, with the European champions now utterly dependent on the creativity of the Brazilian teenager. Vinicius is also bringing the best out of Karim Benzema, while Luka Modric and Toni Kroos have finally found something close to good form.

On the flip side, Barcelona have appeared weary in their last few appearances. They trudged off at San Mames last weekend having toiled to a goalless draw tired and despondent. The procession that not so long ago seemed destined to deliver yet another league title to Camp Nou now looks to be more of a slog to the finish.

Barca supporters know this feeling well. Last season, they suffered from similar problems. Ernesto Valverde was heavily criticised for failing to sufficiently rotate his squad, contributing to a late season dip in form. The theory went that had Valverde used his fringe players a little more frequently, Barcelona might not have suffered that infamous defeat to Roma in the Champions League. That they might have stopped Real Madrid from being crowned European champions for a third success year.

Valverde has tried to rotate more often this season. Arturo Vidal has been used to ease the burden on the midfield unit, with the shock addition of Kevin-Prince Boateng in January designed to give Luis Suarez a rest from time to time. And yet none of this has kept Barcelona away from the effects of fatigue such a packed schedule can have on a team.

Barcelona managed to hold things together in a domestic sense last season, lifting a Liga and Copa del Rey double. This time, however, their domestic performances are being affected. It’s not just Real Madrid who could catch the Catalans at the top of La Liga. Atletico Madrid, just a point behind their city rivals, must be considered part of the equation.

The 2018/19 La Liga campaign has been one of the most exhilarating on record. The first third of the season was characterised by a series of upsets that saw teams like Alaves, Real Betis and Espanyol populate the top places in the standings. Over time, though, that unpredictability slipped away and, to a certain extent, normal service resumed.

There is still time for La Liga to be given a fitting finale, though. Of course, a top three consisting of Atleti, Barca and Real would be entirely predictable, but nonetheless, a contest to the wire between the trio is something that didn’t look feasible a short while ago. ‘Hay Liga,’ indeed.

Bet on Football

 
Odds are provided at time of writing, please check your betslip to confirm they have not changed before betting.

The post Familiar issues for Barcelona opening the door for Real Madrid and others at the top of La Liga appeared first on BetBright Blog.

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All-Weather Action at Dundalk on Friday Night

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Every now and again, I do enjoy an each-way Goliath bet and Dundalk’s competitive eight race meeting on Friday evening is ideal to have a go at one for small stakes. How ever you are attacking the Dundalk card from a punting perspective, below you’ll find my idea of the angle in each of the octet of races, starting at 5.00pm.

For the uninitiated, the Goliath consists of 247 bets: 28 Doubles, 56 Trebles, 70 Four-Folds, 56 Five-Folds, 28 Six-Folds, 8 Seven-Folds and an 8-fold Accumulator. The trouble is, if you choose four losers, you lose 93 bets. That’s a lot of disappointment on one slip! Naturally, I find the 494 each-way Goliath can be even better craic. An occasional 5p or 10p wager of this kind though, is good for the soul. The audacity in sweet talking Lady Luck with spirited attempts to get a great many equine stars to align at once is always a thrill and it’s a handy way to have an interest in each race without the commitment of single bets.

The 5.00pm is a handicap race over 5f, where Adrian Joyce’s BLASTOFMAGIC can give a bold bid under Shane Foley if transferring recent turf form back on the polytrack. This 5yo has seven lengths to make up with Danz Gift on their meeting here last April, but Blastofmagic is an improved horse since then and his handicap rating of 59 looks exploitable. In the 5.30pm maiden over a mile, ULTRA PRIDE can run into the frame for Ms Sheila Lavery with this horse who has curiously finished 7th in two starts so far at Dundalk over 7f. The gelding’s Racing Post Ratings improved from 53 on debut to 70 when beaten little over three lengths here in October and another step forward would see him go well in a fairly ordinary contest.

Dundalk – 6.00pm

In the 6.00pm contest, Division I of a mile handicap for horses rated 45-65, MASALAI must have a favourite’s chance after shaping well after a long time off her last time out. He has a big weight of 9st 13lb, but Oisin Orr negates that by 3lb in the saddle and I’m very hopeful the pair can land the spoils.

Dundalk – 6.30pm

QUELUZ has run over ten furlongs on two of his last three starts, but looks to have sound enough each way claims in the 6.30pm handicap back over one mile for Division two of the previous race. He was a little disappointing last time out, but ran to RPRs ahead of his mark on four starts prior to that and can be expected to be seen staying on strongly late in the day under 10lb claiming jockey Mike O’Connor.

Dundalk – 7.00pm

Things don’t get much easier at 7.00pm with a 6f handicap containing thirteen runners, where the twenty-six grand in prize-money makes it a highly competitive affair. UK raider Nick Vedder is an interesting contender here, but the horse does have a bit of a glass chin, so for a bit of solidarity, I think market leader VIEW THE BAY will prove a decent addition to my Goliath. Andrew Slattery’s 4yo filly has been targeted at this race for some time and she arrives in excellent form having slammed Danz Gift here the last day. She is up 7lb tonight in hotter company, but she is going the right way and seems to get on very well with Ben Coen, who claims 5lb off her back once again.

Dundalk – 7.30pm

At 7.30pm, let’s side with the in-form PARK ROW for this 1m4f heat. The two market leaders haven’t done a great deal on the clock and lack experience, while this evergreen 9yo is in the form of his life and absolutely loves it around here since joining Dennis Coakley’s yard. A handicap mark of 84 is stiff enough on the face of it, but this is not the deepest of races and I’ll be somewhat disappointed if he doesn’t give a very good account of himself, despite the stable having a bit of a quiet period.

Dundalk – 8.00pm

The 8.00pm maiden over 1m2f looks to be at the mercy of odds-on shot and well bred Hazel Bay for Dermot Weld. For the sake of a little devilment, I’ll throw in MACHIAVELLI at a huge price, running in first time blinkers here on his second start for Denis Hogan. The 4yo is clearly hard to win with, but did hint at fair ability on several occasions when trained by Johnny Murtagh in 2018 and a repeat of any one of his five starts from mid-April to late June last year, in this race, would see him bang in the mix for the places tonight.

Dundalk – 8.30pm

Last but not least we revert to a far more fancied runner in the last in the shape of ROYAL ADMIRAL for shrewd handler Adrian McGuinness under top pilot Colin Keane. This is another horse that has not run since 2018 (Oct), but to my eye he arrives with much the best form for a very moderate affair and I’ll be surprised if he fails to resume racing with a career-first victory here in the closing ten furlong handicap at 8.30pm.

You can read more from Kevin O’Malley and find the latest form, racecards, free tips & news on GG.CO.UK.

Bet on Football

 
Odds are provided at time of writing, please check your betslip to confirm they have not changed before betting.

The post All-Weather Action at Dundalk on Friday Night appeared first on BetBright Blog.

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Alexander Watson Hutton: The son of a grocer who became the father of Argentinian football

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Alexander Watson Hutton was an interesting character. He was, though he might not have viewed himself as such, a football evangelist. He was born in 1852, in the Gorbals, Scotland, to a grocer and his wife, but ended his life as the father of Argentinian football.

Early Life

Watson Hutton, whose parents died when he was very young, was raised by his maternal grandmother and later at the Daniel Stewart Hospital School in Edinburgh. The school had pledged to provide free education to those in need: Watson Hutton, tragically, was one of them. He was an orphan by the age of five and would later lose both of his brothers to tuberculosis.

At school, Watson Hutton began to appreciate the importance of education. He had been given a chance in life and he pursued his studies in the hope of bettering himself and others. He attended the University of Edinburgh and, after a long and difficult nine years, graduated with a degree in philosophy in 1881.

Watson Hutton had funded his studies by teaching. George Watson’s College had employed him as a ‘general teacher’: he taught, among other things, shorthand, and his class was described by the principal as a “model of excellence”.

In 1880, Watson Hutton was offered a job at St Andrew’s Scots School in Buenos Aires. The position intrigued him. He was curious. A new climate and a new continent appealed greatly. Watson Hutton wanted to complete his studies first, though, so his arrival in Argentina was delayed until February 1882 – after a long journey from Liverpool across the Atlantic by boat.

Watson Hutton not only aimed to teach football. He was also a keen player himself. “A photograph from around 1880 depicted him as a thin but athletic man with a high forehead and a luxuriant, if droopy, moustache,” wrote Jonathan Wilson in Angels with Dirty Faces.

Life In Argentina

When Watson Hutton arrived in Argentina, he found that rugby was the country’s most popular sport. He was vehemently opposed to this. At first, those he tried to convert to football dismissed it as an “animalistic game”, and board members at St Andrew’s School were equally unenthusiastic. They suggested that Watson Hutton remove the sport from his teaching curriculum, but he was insistent. When his requests for a gymnasium and playing fields were rejected, he resigned.

Watson Hutton might have given up. Instead, typically determined, he chose to pursue his goals alone. He set up the Buenos Aires English High School in 1884 and within two years had 500 pupils regularly attending. Football was at the centre of everything.

“It spread through the schools and the British had a huge influence in Argentina,” said Wilson in a documentary on Watson Hutton released last year. “It was never a formal part of the Empire, but it was a de facto part of the Empire. The British ran the banking system; they ran the trains.”

Both British aristocrats and the Argentinian elite attended Watson Hutton’s school. It was an undisputed success. Watson Hutton thrived in this new environment, overseeing the rapid development of football and introducing a new sporting culture.

He had not forgotten his Scottish roots, though. In 1885 he married Margaret Budge, a former teacher at George Watson’s College, and a year later their first child, Arnold, was born. More people from Watson Hutton’s previous life began to make a reappearance as time passed: William Waters, the son of Watson Hutton’s former landlady, came to work at the English High School. He was joined in 1891 by a group of Scots, who set about creating five football teams: Old Caledonians, Buenos Aires and Rosario Railways, Buenos Aires Football Club, Belgrano Football Club and St Andrews Scotch Athletic Club.

They were to play in the Argentine Association Football League, a division which continues to this day. The teams were originally made up solely of British players. The locals were mere spectators, many of them bemused by this strange foreign game.

“The AAFL eventually evolved into the Argentinian FA in 1903, the same FA of today and he was appointed the first president,” Richard McBrearty of the Scottish Football Museum said in a 2003 interview with the Scotsman. “Watson Hutton was really the first successful administrator of the game in the country.”

Watson Hutton continued in his role until 1896, attempting to nurture a nascent league into something more significant. Occasionally he refereed games while maintaining his duties at the English High School.

By 1898, physical education had been made compulsory in all Argentinian schools. Delighted at the news, Watson Hutton purchased a pitch in the north of Buenos Aires and there set up a team for pupils and ex-pupils of the English High School. They were named Alumni, and for the next decade they dominated Argentinian football.

Watson Hutton’s legacy in Argentinian football is unmatched. His influence continued to be felt long after his death in 1936. The first Scottish settlers remained in Buenos Aires and set up a community, and as recently as the 1980s and 1990s, players such as Jose Luis Brown and Carlos Javier MacAllister played in Argentina. Watson Hutton’s impact can still be felt today.

 

Bet on Football

Odds are provided at time of writing, please check your betslip to confirm they have not changed before betting.

The post Alexander Watson Hutton: The son of a grocer who became the father of Argentinian football appeared first on BetBright Blog.

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Cardano (ADA) Price Hesitates, But Further Gains Seem Likely

  • ADA price rallied recently and broke the $0.0380 and $0.0400 resistance levels against the US Dollar.
  • There was a break above a crucial bearish trend line with resistance at $0.0370 on the 4-hours chart (data feed via Kraken).
  • A contracting triangle is formed with resistance at $0.0412 and support near $0.0400 on the same chart.
  • The price could correct lower a few points, but it is likely to find support near the $0.0392 zone.

Cardano price gained bullish momentum recently against the US Dollar and Bitcoin. ADA is trading nicely above the $0.0400 and $0.0392 support levels, with chances of more gains.

Cardano Price Analysis

After consolidating above the $0.0365 support, cardano price declined towards $0.0355 against the US Dollar. The ADA/USD pair found a strong buying interest above the $0.0355 level and later bounced back. The price gained traction and rallied above the $0.0365 and $0.0380 resistance levels. There was a break above a crucial bearish trend line with resistance at $0.0370 on the 4-hours chart. It opened the doors for more gains and the price settled above $0.0380 plus the 55 simple moving average (4-hours). The upward move was strong as the price climbed above the $0.0400 and $0.0420 resistance levels.

A new monthly high was formed at $0.0428 and later the price corrected lower. It declined below the $0.0420 and $0.0415 support levels. Sellers pushed the price below the 23.6% Fibonacci retracement level of the recent wave from the $0.0359 low to $0.0428 high. However, the $0.0400 support area is currently acting as a support. More importantly, there is a contracting triangle is formed with resistance at $0.0412 on the same chart. If there is a downside break below the $0.0400 support, the price could test the $0.0392 support. The 50% Fibonacci retracement level of the recent wave from the $0.0359 low to $0.0428 high is also near $0.0393. Finally, the 55 simple moving average (4-hours) is positioned above $0.0392 to act as strong support.

Cardano Price Analysis ADA Chart

The chart indicates that ADA price remains supported above the $0.0400 and $0.0392 levels. Should cardano price decline below the $0.0392 support, there could be a reversal towards $0.0380. Conversely, the price might accelerate gains once buyers clear the $0.0412 and $0.0415 resistance levels. The next key resistances on the upside are at $0.0425 and $0.0440. The overall price structure is positive, with chances of more gains as long as the price is above $0.0392.

Technical Indicators

4 hours MACD – The MACD for ADA/USD is slowly reducing its bullish slope.

4 hours RSI – The RSI for ADA/USD is back above the 50 level, with a bullish angle.

Key Support Level – $0.0356

Key Resistance Level – $0.0385

The post Cardano (ADA) Price Hesitates, But Further Gains Seem Likely appeared first on Live Bitcoin News.

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