Bitcoin (BTC) Price Breaks $9k: Next Possible Target $10K

  • There were sharp gains in bitcoin price above the $8,000 resistance area against the US Dollar.
  • The price rallied above the $8,500 and $8,800 resistance levels to move into a positive zone.
  • There is a major bullish trend line forming with support near $8,650 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
  • The pair is currently trading above the $9,000 level and it could continue higher towards the $10,000 level.

Bitcoin price is gaining bullish momentum above $9,000 against the US Dollar. BTC is likely to accelerate higher and it could even break the $10,000 level in the near term.

Bitcoin Price Weekly Analysis (BTC)

This past week, bitcoin price found a strong support near the $7,500 level against the US Dollar. As a result, the BTC/USD pair started a strong upward move above the $8,000 and $8,500 resistance levels. The price even settled above the $8,500 resistance and the 100 simple moving average (4-hours). Moreover, there was a clear break above the $8,800 resistance area.

Finally, the price spiked above the $9,000 level and it is currently trading with a strong bullish bias. On the downside, an initial support is near the $9,000 level. The next support is near the $8,800 and $8,780 levels. It represents the 23.6% Fib retracement level of the last wave from the $8,020 low to $9,027 high. Moreover, there is a major bullish trend line forming with support near $8,650 on the 4-hours chart of the BTC/USD pair.

If there is a downside break below the trend line, the price could test $8,500. The 50% Fib retracement level of the last wave from the $8,020 low to $9,027 high is also near the $8,520 level. On the upside, an immediate resistance is near the $9,080 and $9,100 levels. If there is an upside break above $9,100, the price could surge further higher in the coming sessions.

The next target for the bulls could be near the $9,500 level. However, there are high chances of more gains and the price might even rally towards the $10,000 level in the near term.

Bitcoin Price Weekly Analysis (BTC)

Looking at the chart, bitcoin price seems to be trading with a strong bullish momentum above $8,500 and $8,800. Therefore, there are high chances of more upsides above the $9,100 and $9,500 levels. On the downside, the $8,800 and $8,500 levels are likely to act as major supports for the bulls.

Technical indicators

4 hours MACD – The MACD for BTC/USD is gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently in the overbought zone, with no bearish sign.

Major Support Level – $8,500

Major Resistance Level – $9,500

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Ethereum (ETH) Price Weekly Forecast: Break Above $300 Likely

  • ETH price rallied recently and broke the $260 and $265 resistance levels against the US Dollar.
  • The price is currently trading near the key $275 resistance, above which it could rally further.
  • There is a major bullish trend line forming with support at $265 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair is likely to break the $275 resistance and it could even test the $300 resistance area.

Ethereum price is gaining bullish momentum against the US Dollar, similar to bitcoin. ETH is likely to accelerate higher towards the $290 and $300 resistance levels in the near term.

Ethereum Price Weekly Analysis

This past week, Ethereum price started a steady rise from the $230 support area against the US Dollar. The ETH/USD pair broke many resistances, including $245 and $250. There was also a close above the $250 resistance and the 100 simple moving average (4-hours). Moreover, the price rallied above the $260 resistance and recently tested the key $275 resistance area.

A swing high was formed at $274.25 and the price is currently trading with a positive bias. An initial support is near the 23.6% Fib retracement level of the last wave from the $252 low to $274 swing high. Moreover, there is a major bullish trend line forming with support at $265 on the 4-hours chart of ETH/USD. If there is a downside break below the trend line, the price could even break the $262 support area. An intermediate support is near the 50% Fib retracement level of the last wave from the $252 low to $274 swing high.

The main support on the downside is near the $260 level. It represents the 61.8% Fib retracement level of the last wave from the $252 low to $274 swing high. On the upside, the $275 level is a crucial resistance. If there is an upside break above $275, the price could rally further above the $280 level.

Ethereum Price Weekly Analysis

The above chart indicates that Ethereum price is clearly trading in a strong uptrend above $265 and $260. As long as the price is above $260, there are chances of more upsides in the near term. The next key resistance above $275 is near the $288 level. If the price continues to rise, it could even break the $300 handle in the coming sessions. The next major hurdles for the bulls is near the $310 level.

Technical Indicators

4 hours MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone.

4 hours RSI – The RSI for ETH/USD is currently well above the 60 level and it could rise further above 70.

Major Support Level – $260

Major Resistance Level – $275

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Ethereum Update: Amazon Purchases in The Radar, +60% Growth this Month, ETH 2.0 by Early 2020s

Ethereum is having a very positive week, not only in terms of prices but also in terms of usability and technological evolution.

Ether (ETH) Looking Good On Charts

Ether (ETH) —the blockchain’s native cryptocurrency— is having a phenomenal performance so far in June. An increase of 63% following the trend established by Bitcoin (BTC) has caused the token to reach 270$.

Ethereum has shown a +60% gain this month
Courtesy: Coinlib

The token’s behavior follows the bullish trend that began last May, after a correction experienced at the beginnings of June due to the sharp fall of Bitcoin (BTC) prices —attributed by several analysts to a practice of price manipulation.

However, after approaching $226,
ETH managed to recover, starting again a strong escalation replicated by other
cryptocurrencies.

The Heikin Ashi candles allow reducing the “noise” in the graphs, showing a clear bullish trend after reaching the lowest prices of the month. This trend is confirmed by nice MACD that shows a possible end of the correction and an optimistic future for the Ethereum Market.

Ethereum 2.0 to be Launched on
the 3rd of January 2020

According to information by Trust Nodes, the Ethereum development team has already set a date for the release of the long-awaited Ethereum 2.0: January 3, 2020.

Vitalik Buterin Speaking about Ethereum 2.0 at San Francisco

Justin Drake –one of the developers– said they chose that date for several reasons, one of which was that they wanted to honor the launch of the Bitcoin (BTC) genesis block on January 3, 2009.

The evolution of Ethereum has several characteristics, however the most important is the migration from a PoW algorithm to a brand new Proof of Stake alg. With this, the blockchain would be more effective, resource efficient and more resistant to possible 51% attacks — at least theoretically.

The “transition” process could start between October 8th and 11th of this year at Devcon, although there are already some Ethereum 2.0 clients running testnet.

As reported by Crypto Crimson, it is expected that once implemented -and with all parallel developments fully operational- Ethereum will be able to support about 1 million transactions per second.

Using Ethereum (ETH) for Amazon Purchases Will be Possible Thanks to a Partnership Between CLIC Technology and Opporty

An official press release shared by CLIC Technology revealed that they partnered with Opporty to work on the development of a browser extension “which will revolutionize the e-commerce industry, allowing consumers to make everyday purchases on Amazon using the open source, public, blockchain-based distributed computing platform Ethereum.

Roman Bond, CEO at CLIC
Technology shared his enthusiasm at the possibility of promoting the e-commerce
marketplace and the adoption of cryptocurrencies:

“Bringing cryptocurrency to the e-commerce marketplace is the merging of two next-generation industries … We’re excited to be working on this project with Opporty, and to move forward on a number of other ambitious projects with them as well.

As reported by Ethereum World News; last month, the tech startup Moon announced the development of an extension that allows payments on Amazon with Bitcoin (BTC) through Lightning Network.

The post Ethereum Update: Amazon Purchases in The Radar, +60% Growth this Month, ETH 2.0 by Early 2020s appeared first on Ethereum World News.

Fundstrat Bullish on Bitcoin, But Expects BTC Resistance at $9,000

Bitcoin Could Soon Find Resistance

While the crypto industry was hit with a string of bad news, Bitcoin (BTC) has rallied hard over recent days. As of the time of writing this, the leading cryptocurrency is valued at a cool $8,800 per coin, with bulls managing to wrest BTC from the grasps of a correction, which brought the asset to $7,450 last week.

While the bullish trend has obviously resumed, with Bitcoin managing to move dramatically higher (~15%) as analysts called for a drop to $7,000 and even lower, Fundstrat Global Advisors warns that BTC may soon run into resistance. In a recent research note, chartist Robert Sluymer explained that the cryptocurrency could find resistance between $8,800 and $9,000, which is where the rally paused in late-May and the trend reversed.

It wasn’t made clear whether Sluymer expected for BTC to head higher, he did call for those reading to “increase exposure”, maybe meaning that a move past $9,000 may be in order. But as of the time of writing, short-term momentum has slowed as the weekend has forced the market to lull.

Still Bullish on Crypto For The Long Run

Regardless of what happens in the coming days, Fundstrat is sure that a massive rally is on the horizon.

During a recent installment of Yahoo’s “On The Move”, Fundstrat co-founder Thomas Lee suggested that Bitcoin is acting much like “digital gold”, giving investors a chance to hedge their bets against crisis with a revolutionary asset that is digital through scarce. With the macroeconomic stage looking extremely tumultuous and busy at the moment, Bitcoin could see further inflows. Just look at the trade war between China and the U.S., and the protests in Hong Kong as perfect cases in point.

In a tweet, he then stated that more likely than not, “crypto winter is over” due to 13 reasons.

Some of these important reasons include the fact that Bitcoin quickly returned to $8,000 after the $1,700 dump on Bitstamp; the Bitcoin Misery Index passing above 89, a sign only seen in bull markets; a growth in on-chain activity and volumes, which historically have preceded rallies; an explosion in over-the-counter volume, signaling institutional interest; and the fact that Bitcoin’s chart recently saw a bullish “golden cross” pattern” while BTC moved above its 200-day moving average in spectacular fashion.

$10,000 is the Level to Watch

As it stands, Fundstrat doesn’t have any explicit price targets. But, $10,000 is a bit of an exception. In a graphic published recently, the investment advisory firm suggested that the “Fear of Missing Out (FOMO)” is quickly materializing in the cryptocurrency markets, boding well for BTC’s performance in the short to medium term.

It shows that once Bitcoin reaches $10,000, “Level 10” FOMO will grace this market, which last occurred when BTC blipped above $4,500 in late-2017. If history is any guide, the cryptocurrency market will shoot even higher once $10,000 is breached. As Lee wrote on Twitter earlier this month, “[$10,000] will see FOMO from those who gloated about the 90% crash in BTC… and those who saw Bitcoin dead as forever.”

This will purportedly result in a “fast and furious” move to $20,000. And from there, Bitcoin will double in the next five months, reaching $40,000 in a jaw-dropping move.

Title Image Courtesy of Icons8 Team

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Proposal to Have a NFT issued to the “First Stakers” at Devcon V

If the deposit ceremony for stakers is going to be at Devcon, and the goal is to have 2M ETH staked by the beacon chain’s genesis block in January 2020, there should be a NFT given to these “first stakers.”

It could be a great collectible one day for people who want to prove that they truly were around this ecosystem from Day 1.

What are everyone’s thoughts on something like this?

submitted by /u/decibels42
[link] [comments]

If History Rhymes, Bitcoin May Be Trading Around $12,000 By the End of July

Bitcoin (BTC) and the general crypto markets have been on the up-and-up over the past several months, incurring significant buying pressure that has allowed them to surge significantly from their 2018 lows that were mostly established in December of last year.

Now, analysts are noting that Bitcoin may soon surge higher based on a historical analysis, which means that BTC could be trading around $12,000 by the end of July.

Bitcoin Surges to $8,800 as Bulls Flex Their Strength 

At the time of writing, Bitcoin is trading up nearly 5% at its current price of just below $8,800, up significantly from its daily lows of $8,380.

Over the past week, BTC has incurred massive buying pressure that has led its price to climb from lows of $7,600 to its current price levels.

This movement is a sign of strength for the cryptocurrency’s bulls, which may ultimately help lead the cryptocurrency into the next parabolic run that allows it to surge towards, or even past, its previously established all-time-highs.

Flood, a popular cryptocurrency analyst on Twitter, recently told his nearly 70k followers that a decisive break above $8,000 will signal a massive breakout.

“No more rug pulls on bitcoin, only magic carpet rides… We are close to leaving the range (8450-6800). Anything above 8800 will signal a massive breakout and liquidation of anyone short over 20x leverage most likely causing a cascading wick,” he explained in a recent tweet.

Analyst: If History Repeats, BTC May Soon Be Trading at $12,000

Flood is not alone in his bullish assessment of the cryptocurrency, as other prominent analysts are quick to note that strengthening fundamentals and technicals may allow Bitcoin to significantly extend its current upwards momentum.

Red, another popular analyst, recent noted that there is a striking similarity between BTC’s April of 2018 price action and its current price action, which may signal that it will continue surging until it reaches around $12,000 in the coming weeks.

“Comparison of April 2018 price action and present day June 2019 price action. Second image shows how price is currently being developed around 2.5x in % terms, and taking 3x as long to do so. This would put $BTC around $12,000 by the end of July,” he explained while referencing the below charts.

As the month of June continues on and Bitcoin’s bulls continue to showcase their strength, it is not unreasonable to assume that the crypto will soon break into the five figure price region, which may spark the next massive bull run.

Featured image from Shutterstock.

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Family Offices Pour Billions Into eSports, Can Crypto be Next?

Over recent years, eSports — and gaming, in general — have blown up. You may think crypto may have seen growth, but so too has this fledgling sector. Estimates state that eSports have a global audience of hundreds of millions, most of which are presumably teen-aged or millennial-aged men, and industry value in the billions.

While these two industries have almost nothing to do with each other, the growth of gaming may result in a correlated growth in cryptocurrency and blockchain. Here’s why.

Family Offices Poised to Foray into Crypto

Despite what some say, a majority of institutions are not in the crypto sector. At best, the majority are eyeing the space, ensuring that they’re keeping track of any notable developments.

However, this could soon change. David Nage, a principal at Arca (a cryptocurrency investment firm), recently laid out the reason why. In a seven-part Twitter thread, the investor remarked that over recent years, massive family offices have been siphoning capital into gaming.

David Rubinstein, the founder of Carlyle Group ($200+ billion asset manager), American billionaire Ted Leonsis, and others have invested in eSports-focused and developer companies like aXiomatic Gaming. In fact, 17% of the $4.5 billion allocated (per Nage’s data) to eSports in 2018 were sourced from family offices.

So what does this have to do with crypto? Well, most popular games today — be it Playerunknown Battlegrounds (PUBG), Fortnite, Apex Legends, League of Legends, Counter-Strike — involve digital monies. They aren’t cryptographically-secured, nor are they scarce or decentralized, but they do act as digital money. PUBG has Battle Points; Fortnite has V-Bucks. You get the point. As Nage further explains:

“V-Bucks and BP are digital native, in many cases non-fungible currencies; hundreds of millions of teenagers and young adults now buy and/or acquire them.”

So, in many senses, family offices are getting acclimated to the idea of cryptocurrency by investing in eSports and similar industries. Thus, if crypto startups do the right job in pitching to family offices, they may be able to secure billions worth of funding.

Blockchain Gaming, the Next Big Thing

And in a similar string of news, we may see a growing intersection of these two sectors in the coming months. While eSports and gaming can be used as an onramp to crypto-backed digital economies, the two can actually interoperate. Or in other words, blockchain gaming.

Case in point, according to a recent report French business outlet Les Echos, Ubisoft, a video game developer behind Rainbow Six, Far Cry, Just Dance, and other classics, has had a “dedicated team” for blockchain applications in gaming for a number of months.

The team’s primary idea is purportedly looking to make items, like digital cosmetics or weapons, accessible through a blockchain system. No specific titles were mentioned, but it’s presumed that the Ubisoft team intends to facilitate cross-game item transfers.

Ubisoft purportedly has plans to use the Ethereum blockchain for this program. It is unclear if the network could handle Ubisoft’s user base, however, potentially implying that the company is looking to build a second-layer solution to make its integration work.

Featured Image from Shutterstock

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The Strange Case of CCN and the Google June 2019 Core Update

One of the oldest crypto sites shuts down, then comes back up immediately, citing loss of traffic.

Here at Cointelegraph, we were as shocked as everyone else in and around the crypto-sphere when we learned about the abrupt closure of stalwart crypto media outlet CCN. Established at around the same time as Cointelegraph and CoinDesk, CCN spent years competing for the crypto audience.

However, just a couple days later, as many others, we were relieved to hear that CCN was back — although we couldn’t help but feel sceptical regarding several aspects of the story and puzzled by so many questions swirling around it.

How come a key player in our own industry could go down overnight — and then come back so conveniently after a few days? How could a three-letter-dot-com domain commanding millions of monthly visits be so hooked on Google-fed traffic that a single adjustment in the search algorithm, albeit a major one, cost it 90% of ad revenue momentarily?

What was it, really? A targeted, politically motivated character assassination on behalf of the tech giant (as CCN’s founder claimed)? An unfortunate alignment of circumstances with no one in particular to blame? Possibly a PR stunt, or something else? We felt we owed it to the entire industry to take a sober look into this case to find out whether something similar could happen to any of us at any point in the future.

What happened to CCN?

CCN Markets, established in 2013 by the Norwegian entrepreneur Jonas Borchgrevink as CryptoCoinsNews.com, is currently part of the media company Hawkfish AS, which also operates Hacked, a publication that provides analysis on “future assets” like cryptocurrencies and tech stocks; MoneyMakers, a self-identified “tabloid that produces news with a special focus on money”; and HVY.com, a news platform that is designed to promote journalists rather than news stories. One of the largest global crypto-related news outlets, the majority of traffic to ccn.com comes from the U.S. As of early June 2019, the publication reportedly employed more than 60 full-time, part-time and freelance contributors.

On June 10, CCN founder Jonas Borchgrevink addressed the readers with an extensive post, declaring that the website took a massive blow from Google’s June 2019 Core Update and saw mobile traffic from Google searches drop by 71% overnight, as measured by Sistrix’s Visibility Index (the same graph also showed a 53% decline in desktop traffic). This, Borchgrevink claimed, resulted in an immediate 90% decrease in ad revenue. He added that, although CCN had reached even lower visibility scores on a few occasions throughout the past year, the latest dip proved the most devastating because of the recent expansion of its team.

Borchgrevink suspected a possible “general crypto crackdown by Google,” citing smaller but substantial losses on the same metric allegedly sustained by CNN’s competitors — i.e., CoinDesk and Cointelegraph. However, regarding Cointelegraph, the data Borchgrevink cites is inaccurate, based on conversations with Cointelegraph’s SEO team and public data that shows no reversal or even a slowdown around June 10. On the contrary, it reveals a steady upward trend in Cointelegraph’s Alexa Rank dynamics that is visible since mid-May. According to a Forbes article, other prominent publications in the crypto space, such as Coindesk and The Block, also reported insignificant effects from Google’s update.

CCN’s director went on to discuss other potential reasons for the website’s visibility collapse, including Google’s guidelines for additional scrutiny applied to “Your Money, Your Life” websites — in other words, outlets that provide information related to either health or personal finance and are therefore subject to more stringent content quality requirements. Borchgrevink then ruled out the possibility of having been taken down on the grounds of quality, listing all CCN’s well-deserved awards, quality seals, and editorial and business practices that speak in favor of the publication’s blue-ribbon status.

Finally, CCN’s boss turned to politics as an explanation for Google’s allegedly unfavorable treatment of his website. He noted that, despite being pro-free speech and providing a floor for opinions from all over the ideological spectrum, CCN has recently featured a lot of specifically “Pro-Trump” op-eds, which, he implied, was in line with the publication’s “anti-elite, anti-centralization” stance, which Google, according to him, allegedly opposed. He also pointed out that, as a result of the recent update, some right-leaning British newspapers saw their Google traffic decline, while some of their left-leaning counterparts enjoyed gains.

While there are no direct accusations of Google being politically biased in the text, in the accompanying video, rather fierce language is abundant: For one, Borchgrevink calls it a “fascist corporation” that is trying to censor anyone who “remotely dips its toe out of the left-leaning bubble.” This was followed by calls for everyone who cares about free speech to wake up and rally against the “Googlémocracy” and disrupt the overwhelming corrosive corporate power, along with a list of demands for Google.

The meltdown concluded, rather unexpectedly, with a statement of CCN shutting down in the wake of revenue losses incurred thanks to Google. Reluctant to downsize the team, Borchgrevink announced redeploying everyone to HVY.com.

What is a Google Core Update?

As Google’s numerous products and services, from Gmail to Chrome, have come to dominate their respective market segments, the company’s fundamental value proposition lies in fast and relevant search output. In response to a query, the search engine uses a complex system of proprietary algorithms and filters to furnish the user with lists of web pages ranked by relevance, also called search engine results pages (SERPs).

In order to improve the quality of this output, Google introduces hundreds of subtle tweaks to this system every year — of which, most are barely noticeable — and sometimes rolls out major updates that affect the core algorithm’s functionality. The latter often become milestones for entire businesses reliant on Google-generated traffic, severely affecting their bottom line for better or worse.

The Google June 2019 Core Update is the second large-scale adjustment so far this year, and also the first one ever to be announced by the company in advance. The previous update in March focused on areas where the so-called EAT factors (i.e., Expertise, Authoritativeness, Trust) are deemed the most important, resulting, for example, in massive fluctuations in health care-related websites’ search visibility.

In the wake of that update, Google specifically pointed out that, while improvements are focused on website content, its quality is not a primary criterion, and there is nothing “wrong” with websites that took a dip in visibility rankings. At the same time, there is nothing that could be done to “fix” such websites. With regard to the June update, the precise focus of the adjustment remains unclear, as websites from a variety of regions and subject fields found themselves affected.

As Glen Allsopp, founder of SEO firm Detailed.com, noted to Cointelegraph:

“Past Google updates could certainly be described as targeting certain industries, with an August 2018 update being dubbed ‘Medic’ due to how many health sites were impacted. Health and finance sites appear to have seen big swings once again, as have quite a lot of news sites. That said, this one feels broader to me.”

There are numerous criteria at play when the algorithm determines the rank of a particular web page in search output. Perhaps most prominent in the last few major updates are the aforementioned YMYL and EAT guidelines that prescribe varying quality standards for different categories of websites. In addition, Google routinely locates and takes down various schemes, which shrewd webmasters employ in order to boost traffic and ad revenues.

This Medium post, for instance, describes one such mechanism that large trusted portals use to game the algorithm and profit from the additional unrelated content on their domains. Cointelegraph’s SEO specialists observed that many financial media who took a hit from the June update saw their coupon schemes cut.

Webmaster forum development and CCN’s resurrection

In response to an inquiry from Forbes’ Benjamin Prius, a Google representative reiterated a statement from March 2018 that some websites may experience traffic fluctuations due to a core update. Moreover, the boost for the pages that come to perform better might stem from the fact that they have been undervalued previously. They also pointed to Google webmaster forums as a place to seek advice on issues that arise in the wake of algorithm adjustments.

Indeed, in the original post, CCN’s director reported seeking guidance from the webmaster community but said that their theories explaining the CCN situation did not “appear to be entirely accurate.” Meanwhile, one of the considerations that emerged in that thread around the time of the closure announcement could well be the key to understanding what happened to CCN’s search visibility. Some of the community members noticed that pages from the old domain, cryptocoinsnews.com, resurfaced in search output, redirecting to the current CCN home page — a behavior that one of the webmasters called “a sure fire way to confuse search engines.”

Two days after the closure announcement, Borchgrevink followed up with yet another statement in which he acknowledged the glitch of the old domain showing up in search results — even in search results for recent CCN articles. He also sounded less convinced that the core update was the root of the evil:

“Whether or not the Google June 2019 Core Update is to blame, we are fixing it. […] There’s still a good chance that this won’t correct our visibility on Google overnight, but I’m hopeful we are on the right path to figuring it out.”

And then, even more abruptly than the announcement of CCN shutting down, the announcement of CCN coming back arrived:

“Enough said. CCN.com is back.”

Versions and reactions

Granted, CCN’s own core readership was deeply saddened by the news of CCN’s demise and rejoiced when it was reversed. Some crypto blogs subscribed to the “evil Google” narrative unconditionally; others tried to test their own hypotheses as to what the search engine update could mean for the industry. One of them, Inside Trade, ran an experiment to assess whether the improved algorithm favored websites on Google’s own Adsense network, which yielded mixed results obtained from a tiny sample.

Some of the crypto industry’s experts, though, did not find Borchgrevink’s account of the events all that compelling. “What Bitcoin Did” podcast host Peter McCormack tweeted:

Elad Mor, CEO of MarketAcross and co-founder at InboundJunction — a content marketing, SEO & PR agency for startups — told Cointelegraph that the Google search algorithm might indeed be a headache for publishers, but in this case, it was likely not the only factor:

“Google updates can be vicious. We’ve seen businesses go from hero to zero after massive Google algorithm updates. ‘Notorious’ updates such as Google ‘Panda’ or ‘Penguin’ have left scorched territories behind them and were real game-changers for SEOs and publishers relying on organic traffic.

“We’ve been working with CCN’s news department for a while, their attitude of straight shooting investigative journalism and compromised quality makes me think that this “penalty” is a very technical one and could be sorted by working closely with Google support and adhering to their strict guidelines. There might also be more to the story, since a big website like CCN doesn’t close overnight or changes its decision the day after.”

Trey Ditto, CEO of Ditto PR, a full-service communications firm with crypto and blockchain practice, suspects that more systemic determinants could be at play:

“The media landscape in crypto is shrinking. Either media outlets need to step up to fill the void, or crypto and blockchain projects need to recognize that getting media coverage is a tactic and not a strategy. Most people I’ve talked to don’t seem to be buying the narrative that Google is at fault for CCN’s shutdown. A more logical explanation is that a lot of crypto media outlets are struggling to adapt and mature with the market. If you have a high burn rate or lack a way to monetize outside of ads, you won’t last through the remainder of crypto winter. The same goes for crypto projects: Evolve quickly or die off.”

So, it may appear that at least one of the immediate reasons behind the CCN’s search visibility nosedive was in fact not triggered by the Google June 2019 Core Update, but merely coincided with it. From conversations with Cointelegraph’s SEO team, it emerged that the old domain’s sudden comeback was likely prompted by its 301 redirect — a tool used to establish a permanent redirect from one URL to another — breaking down, which resulted in old pages appearing in the search index again. As two sets of pages with identical content surfaced, Google’s algorithm identified them as a dishonest attempt at gaining visibility and began lowering their ranking accordingly.

Not all SEO professionals subscribe to this view. Glen Allsopp observed to Cointelegraph that the redirect seems to be in place still:

“This is not common, unless the old domain is resurrected in some form, which doesn’t appear to have been the case for CCN and their previous domain, cryptocoinsnews.com. You can check Archive.org and all June mentions show their domain redirect still in place. I saw the comments regarding their old domain now ranking in search results but two premium third-party analysis tools I use – Ahrefs and Sistrix – both fail to show any search visibility at all for their old domain name. They may have missed it, but I would be very surprised by that”

The confusion around what has really happened to CCN’s traffic, of course, does not mean that Google’s enormous and unchecked power over online search, advertising and publishing industries is not a pressing issue — or that online journalism’s dominant ad-based business model is not flawed.

Acquisition attempt

Shortly after the news of CCN’s shutdown hit the press, unverified claims of the publication’s attempted acquisition began to circulate online. The alleged benefactor was also specified: Stankevicius MGM, a global PR and advertising firm headquartered in the UAE. If the validity of these talks is not unfounded, the timing of the events would be crucial to understand whether the attempted deal had any influence on the general plot line.

Roma Stankeviciene, Stankevicius MGM’s executive vice president, confirmed that the negotiations did indeed take place. In fact, it turns out that CCN received more than one offer in between shutting down and coming back:

“CCN CEO’s message was quite convincing, so yes, our CEO approached them to discuss whether a sale or an M&A. We were willing to offer 7 digits net for the media site. We didn’t keep this as a secret, and told colleagues and business contacts about our interest in CCN, and so the talks spread.

“We noticed once our story hit the news, another media company decided to make an offer as well, and it was kind of a copycat move in a way because we actually approached the CCN first right after their announcement and we were serious about it, and having another company drop into the deal with a new offer only make things complicated.

“However, later we heard that CCN was not selling anymore as they got their traffic back from Google. It’s unfortunate, we would have done something great with the site.”

The statement therefore suggests that the acquisition negotiations did not prompt the shutdown. If anything, they could only trigger CCN’s decision to go back up defiantly. Meanwhile, Stankevicius MGM executives remained unconvinced by the publication’s own version of the story:

“They claimed that they lost traffic, still even if they lost it, they had more than enough traffic and brand awareness to keep the business going. […] We still think internally that their announcement was not true.”

Amid all the uncertainty, InboundJunction’s Mor aptly summarized:

“Whatever the reason is, we’re happy they are still in the game.”

Coinbase Custody Holds $1.3B in Assets Under Custody, Expects to Hit $2B ‘Soon’

Coinbase Custody announced that it holds $1.3 billion in assets under custody and the firm expects to hit $2 billion soon.

Coinbase Custody revealed that it holds $1.3 billion in assets under custody (AUC) and the firm expects to hit $2 billion AUC soon in a Twitter thread published on June 13.

In a series of tweets, what is evidently the official Coinbase Custody Twitter account reported that last week the company’s CEO, Sam McIngvale, and its chief information security officer, Philip Martin, visited the United Kingdom. The purpose of the visit was reportedly “to discuss the institutional cryptoeconomy with a range of prospects and clients.”

During the meeting, the firm’s representatives argued that, while many believe that there are no institutional-grade offerings in the cryptocurrency space, Coinbase Custody is in fact such an offering. The firm’s representatives stated that the company is insured, regulated and secure custodian. The thread also specifies:

“We have $1.3bn AUC and expect to hit $2bn soon. We have no intention of stopping there. […] Coinbase Custody services over 90 clients. Of those, approximately 40% are outside of the US.”

Lastly, the tweet also claims that — as cryptocurrencies mature as an asset class — financial hubs such as London are becoming centers for crypto innovation.

During an on-stage discussion at Consensus in mid-May, Brian Armstrong, CEO of Coinbase, said that its custody service had already received $1 billion in assets under management.

As Cointelegraph reported in March, the United States Securities and Exchange Commission is soliciting industry input as it potentially reconsiders existing custody rules in specific cases of digital asset trading and settlement.

In April, Hong Kong trading and asset management firm BC Group announced that it is launching an insured custody service for cryptocurrencies.

What is a Milestone-based Token offering? Storecoin, with Early Backing from Ari Paul/BlockTower Wants to Tokenize your Data

storcecoin

“If we’re right about our thesis, a new
computing platform emerges — one powered by open and tokenized data.

Not only do developers get paid when the
Google’s of the world want to query/crawl/search their data (and devs can even
share this data revenue with users), developers can build with the open data
streams and open APIs of other developers (who get paid when the developers
access their data stream; 1MB data = 1 datacoin).

I think this can change the world. It’s a
new computing platform powered by open data.

Storecoin is merely incentivizing it.” –
Chris McCoy, CEO of Storecoin

June 15, 2019

Consumers are more than ever aware of and feeling the
effects of predatory business practices from Big Tech, as data breaches,
deplatforming, and policy shifts occur at alarming rates. Washington is
scrambling to gain control over the situation.

Consumers favor alternative approaches to data handling instead of a mass break up of today’s tech companies. Consumers want alternative business models that allow people to leverage their data as an asset they can manage.

What is Storecoin?

Storecoin is a zero fee payments and peer-to-peer cloud
computing blockchain that will enable such an alternative by helping transform
data into money. Here’s how it works.

The Storecoin project starts with a zero-fee settlement
layer. At the heart of this is Blockfin, our leaderless, Byzantine
Fault-Tolerant (BFT) consensus algorithm that solves for scalability and
decentralization. Thanks to Blockfin and a credibly low inflation policy,
$STORE functions as a sound money for the entire Storecoin ecosystem.

As security with scalability is proven, Storecoin will open
up miner (or, as we call them “dWorker’s”) participation to anyone in the
world. From there, the secure settlement layer can evolve into a p2p cloud
platform for the decentralization of data and the creation of new, zero-fee
tokenized apps (tApps).

Put simply, we see many applications that want to experiment
with their own native tokens to incentivize work and other activities, to
coordinate their groups, and to experiment with as yet undreamed of use cases.

The first generation of ICO tokens created the issue of
manufactured payment tokens, limited in use cases, and unbacked by anything but
speculation. A weak substitute for money, and lacking decentralized governance.

Incentivize
Developers, and They Will Come

Application developers in the Storecoin ecosystem can only
issue tokens that are backed by the data their application produces, giving
them intrinsic value based on the demand that third parties have for that data.
Because data is the oil of the new economy, this creates an opportunity for the
dWorkers in the Storecoin ecosystem to get rewarded for servicing and securing
the network of applications, while providing a more profitable hosting solution
for app developers than today’s centralized alternatives like AWS.

What’s more, this tokenization of data creates new
opportunities to address consumer concerns like never before. First,
enterprising developers who want to offer something different might take
advantage of data tokenization to help cut consumers in to their business
models, finding new alignment and synergy with their users. Even if users
aren’t being paid for their data, per se, tokenization makes data much more
trackable and transparent, giving users new insight into how their data is being
used and providing them more power to fight against what they don’t like.

Underpinning this all is a shared security network where the
miners or dWorkers of the Storecoin system ensure that the entire network is
protected from malicious attack.

For Storecoin, it is imperative that this new data paradigm doesn’t simply replace one intermediary with another, however. That’s why the entire project will be governed through a system that enshrines checks and balances and the separation of powers. Our governance system makes it impossible for any one group – developers, miners, or the nonprofit foundation – to warp the system to benefit them above the others.

Announcing the next
Storecoin Milestone Token Offering

Storecoin is launching its long-awaited Milestone Token
Offering on Thursday, June 20th at 12pm PT. This Regulation D and Regulation S
securities offering aims to bring in over 500 new wallets and up to $4.97
Million of Treasury into the project.

Since inception, Storecoin has taken a strong anti-ICO
stance and instead has committed to growing Treasury on the basis of achieving
key project milestones. These global MTOs focus Storecoin on transparent
project execution while building long-term trust with its growing community.

The sale will be offered as a sequence of three phased
pricing rounds. Each sale phase will be offered on a first-registered and
first-funded basis. Once a phase is fully registered and funded, the next phase
will open up and be offered to the next registered buyer.

 The proceeds from
this sale will be used for a number of vital project building activities,
including:

  •  Releasing the
    alpha network for BlockFin, our parallel and pipelined consensus engine
  •  Multiple
    security audits for our BlockFin BFT consensus algorithm
  •  Begin hosting
    STORE meet-ups around the world
  •  Releasing our
    Governance, Economics, and Security Papers for public peer review
  •  Hosting the
    first-ever Storecoin Conference, a research and governance global gathering

Existing Storecoin investors include Ari Paul of BlockTower,
Anthony Pompliano, Matt Ocko, AlphaBit Fund, Ari Nazir of Neural Capital, and
more.

Register for the sale at: http://sale.storecoin.com.

Links

E-mail: team@storecoin.com

Website: http://storecoin.com

Telegram Group:
http://t.me/storecoin

Twitter:
http://twitter.com/storecoin

The post What is a Milestone-based Token offering? Storecoin, with Early Backing from Ari Paul/BlockTower Wants to Tokenize your Data appeared first on Ethereum World News.