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In February 2018 before the crypto bear market truly took hold over Bitcoin and other assets, companies that had little to do with blockchain began announcing tokens of their own, many that never came to fruition. Atari token, however, will be one of the rare few announced back then that will eventually power on and press play.

But before that happens, we’re taking a look back at Atari’s impact on the video game industry, and if this token launch could bring innovation to it much like the original technology did decades ago.

Atari Token To Launch In Two Weeks On Bitcoin.com After Two-Year Hiatus

At peak crypto hype, dozens of companies decided to flip a coin and try their luck at riding the cryptocurrency bandwagon of late 2017 and early 2018.

As if more evidence that a bubble was indeed ready to burst, companies like Long Island Iced Tea, Kodak, and Atari, all announced a shift toward blockchain, and a business rebranding that may or may not have included a crypto token launch.

Related Reading | Remembering The Kodak Crypto ICO As Stock Prices Soar

In February of that year, Atari announced its Atari Token in hopes of revitalizing the aging brand now dominated by PlayStation, Nintendo, and Xbox. The token will be used for in-game content, betting, and more, and hopes to eventually build a tokenized video game ecosystem.

The token launch, some two and a half years later, will happen on Bitcoin.com on October 29, 2020. Atari will be launching the token at $0.25 each with a hard cap on the presale of $1 million.

How Video Games And Crypto Coins Go Together Like Player One & Two

The original Atari paved the way for the titans of the video game world today, like Sony and Nintendo. While Sony is ready to launch its PS5,  Microsoft readies its next Xbox console, and Nintendo continues to enjoy success with the Switch, Atari has made a significant reset.

Atari was the first innovator to make the video game industry what it is today. Could it perhaps do the same for combining the crypto industry, with video games?

Related Reading | $30M Fortnite Tourney Bodes Well For Future of Bitcoin & Crypto: Analyst

Video games are a natural fit for gamers, who have spent years dealing with virtual currencies and doing their all to collect coin after coin.

Fortnite is a great example of a game that has a thriving in-game economy and downloadable content that could be tokenized through smart-contracts. All that has been missing, is a way to bridge the gap between the two vastly similar all-digital worlds.

If Atari can do it, they may have solved the puzzle to creating a video game ecosystem that’s tokenized and gives users rights and ownership, and begin a new era of video game collections, built on top of Atari chain.

Featured image from Deposit Photos, Charts from TradingView.com

Tony Spilotro , 2020-10-17 21:30:23

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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