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Electric Coin Company, the developer of the Zcash cryptocurrency (ZEC), has announced a project development plan for 2020, as well as a long-term strategy for working on the project. This was posted on the official website of the organization.

In 2020, the ZEC development team intends to test new technical solutions and invest in research and development. Specialists will devote special attention to resolving issues related to increasing the level of confidentiality of the cryptocurrency network.

We envision Zcash becoming a usable, safe, global, permissionless, and private store of value and medium of exchange. We know it won’t be an easy road to get there” the announcement says.

The ZEC team’s strategy outlines three key time periods and goals that specialists intend to accomplish over this period:

The goal of the period is listing cryptocurrencies on large trading platforms, expanding the number of trading ZEC pairs, as well as improving the ability to interact with the asset using mobile gadgets.

Recall that earlier it became known that the British division of Coinbase to delist the ZCash token.

During the indicated period, the project team intends to improve its own management structure. Another goal is to work to improve the scalability of the cryptocurrency network and provide users with more applications for working with ZEC.

Project experts are confident that cryptocurrencies will continue to gain popularity over this period of time. By the end of the stage, according to representatives of Zcash, the asset will become a convenient means for conducting regular settlements. At the same time, developers see the possibility of using cryptocurrency in regions with poorly developed monetary policy. According to specialists, digital assets will become an alternative to existing centralized systems.

Note,  that similar ideas formed the basis of the crypto project Libra social network Facebook.

Recall that earlier on the network there was information that a vulnerability in the ZCash network could lead to leakage of IP addresses of users.


admin , 2019-11-27 09:20:14 ,

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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.

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

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