PiixPay is rebranding as SWAPIN, but is retaining all its existing services under the new name! This is our very first step towards becoming an industry standard setter by upgrading our product to the highest level. We welcome you to join us on our great journey at www.swapin.com.
Don’t worry, all of our existing products like InstaPay, InstaFill, and CoinCollector have been transferred and are available on the new website.
Bitcoin Cash is forking. Therefore we kindly suggest avoid transacting in the period of November 14-16. We will suspend temporarily the Bitcoin Cash transactions. The Rest of our Coins and Tokens will work as usual.
After the dust is settled you can process BCH as normal.
Can we consider the next bull market here or this is just a short-term trend? Let’s analyse the big-boy BTC and ETH.
It has been 32 months after the ATH for BTC and now the currency has shown key characteristics for entering a bull market. Let’s first look at the technicals.
The monthly candle is printing a new high above $12,000 (Aug 17). The resistance at $10,700 got finally broken while making the price higher and staying above it. This is crucial and will validate whether we are really out of the woods. This upward move happened because we really manage to keep the 50 MA Monthly (in blue) as an unbreakable fortress and kept the upward movement (green line). Moreover, we see now a classical candle formation (in yellow) indicating that we will reach more upward towards $14,000.
Thus, the risk comes in that area – we will wait for a correction and we expect a down wave, and then up again.
The MACD and Stoch RSI are entering the bullish territory. However, we expect them to be entering overbought zones sometime Sep-Oct.
BTC remains bullish but still needs to break $14,000. then go down to $10,800 and only after that to aim for ATH. That will validate the bullish scenario.
The Weekly chart shows (Aug 17) room for upside but the most important 200 Weekly MA remains as a solid base.
ALTS have always served as a good indicator that the market is stabilizing. People buy ALTS because they trust in BTC price (however controversial it sounds 😊 ). Meanwhile, DeFi craze is pumping more capital in the Ethereum network. So, let’s take ETH as a good benchmark.
ETH/USD pair rose 80%+ last month giving us very interesting events:
ETH finally managed to get out of the $200 – $260 zone
Clearly the 200 Weekly MA was broken and we remain above it long enough
The $500 is the area where we saw lots of cluttered trades in the past. This again will be invalidated if we see a clear break upwards in September. The weekly MACD favours bulls and RSI is relatively good.
The BTC Dominance goes down which fuels a bit more the ALTS. This is also an indicator that the market turns actually positive.
A big fundamental event for BTC was undoubtedly the halving which slashed the BTC reward for miners. Thus, we don’t know how much coins are going to flood the market but if we take the stock-to-flow logic we expect higher price due to lower supply.
On the other hand, this reminds the previews cycle that emerged in 2016.
Liquid Network also came into play and Bitcoin Options picking up for institutional investors creating a good environment for the Bitcoin ecosystem.
For ETH, things are a bit more complicated since the long-waited ETH 2.0 has to be here this year…but who knows? Currently, the DeFi projects sucked everything out of ETH due to high fees on each contract. So again, the scalability is still an open question – and not resolved!
Of course, we have still had the massive printing of cash, which will eventually add more instability in the FIAT world creating more opportunities in Crypto.
Meanwhile, in the bull market, your assets become stronger… You have to know that heights are climbed, but the downturn will come. Before that, you can always cash-out to stable EURO and be happy with your earnings.
The long-anticipated Bitcoin Halving is approaching and we decided to take a closer look at this event.
Behind the Bitcoin Halving, there are fundamentally two important factors we need to understand first.
Bitcoin block reward will be cut in 2.
There will be 50% fewer Bitcoins to be released (if all miners sell their rewards).
So, what will be the outcome?
The Good Scenario.
Let’s put things in an economical perspective. Fundamentally, an asset that gets issued (and still in demand) becomes fewer – means bigger valuation. If we only take the model of “Stock-to-flow” we will see that Bitcoin’s scarcity is a very important factor in the long run. Our friends from PlanB have put it quite nicely in chart1.
Without going much deeper in the “Stock-to-flow” model, the basic principle is the relation of – how much Stock (available coins) divided by the issuance of it (Flow). The same model has been used for determining prices for Gold and Silver so we can take an educated guess. So, what do we see?
In 2021 we will be heading for 5550 blocks per month (right) and price heading above 10K. This is when we plot the available coins and the moments of halvings. The halving moments are spikes of the black line. The colour dots represent the number of blocks per month mined. The light blue dot is the price indicator and as we can see it is still in good correlation with the black line.
Now, this might be too good to be true since this scenario portrays a very positive picture. So, let’s assume another scenario.
The not-so-good Scenario
In general, the Halving has been always positive for Bitcoin (2012, 2016).
They all made conditions for a Bull market, right? Hence, this time the bull market might be far.
And this because Rob Wolfram depicted an interesting chart. That shows that the bear market will be extended. Rob added deviation bands, showing Bitcoin dips prior to halving events.
These “clouds” around the black line are the moments where the price will hit the bottom part of the deviation and or the upper side of it. Seems that the price will hit 100K by 2022 but there wile many brutal dives between 40K and 90K.
The chart shows also after halving there are bear markets. Like in the last halving, it took 1.5 y to turn Bitcoin bullish again. And this time might require 2x more time.
Where do we stand from here – conclusions?
For Piixpay, Bitcoin’s halving is still a very positive event. This is due to the fact that we are entering an era of unlimited Quantitative Easing. In other words, printing money will be a norm for many Western Countries.
This will create inevitably devaluation of assets. Your cash purchasing power is at risk. In other words, Bitcoin will start to compete with the Dollar. Thus, the demand for scarcity assets will raise. Retail will look for storing a decentralized asset and Investors will look for hedge.
Like the Dollar and EURO, Bitcoin will eventually become an alternative currency to pay. In fact, the demand for these kinds of payment solutions will rise. If you still want to connect your crypto-system with the FIAT, then consider Piixpay a great payment gateway. With us, you can really pay anyone in crypto as recipients will get EURO. Simple as that.
In these unprecedented times, we are witnessing a historical moment. As the economy and markets become more volatile – Bitcoin becomes less unstable. Because it follows its own rational logic. Math. That’s all it is.
This price rally is not showing signs of exhaustion yet. The next resistance will be the psychological $10k level and if we see a move above, then expect to see the price at around $12k next. Of course, this is a volatile market, so be ready for corrective price drops, possibly very sharp moves.
Bitcoin Hash Rate hits record highs.
The fundamentals of Bitcoin are growing stronger every day. Combine that with the recent price surge to over $9000 and we can feel quite confident that the crypto market will keep trending upwards.
In simple terms, a hash rate can be defined as the speed at which a given mining machine operates. Crypto mining involves finding blocks through complex computations. The blocks are like mathematical puzzles. The mining machine has to make thousands or even millions of guesses per second to find the right answers to solve the block.
Now that the cryptocurrency bull market has started here is what to look out for:
1. Don’t send money to giveaways (that’s not how giveaways work) 2. Don’t use an exchange as a wallet (not your keys not your coins) 3. Don’t buy coins claiming to be “the real bitcoin” 4. Don’t go all in 5. Use 2FA 6. Have fun!
Written by Martin Berggren, market analyst.
What is happening in crypto?
Facebook to announce their own crypto coin
Facebook plans to roll out a cryptocurrency for its 2.38 billion users, called Global Coin. Reportedly Facebook plans to start testing the currency late 2019. It will be a stable coin backed with a basket of several fiat currencies. The whitepaper will be released 18 June.
Litecoin halving coming up in august
It is time to cut the block reward in half for Litecoin. This halving event occurs every 4 years for Bitcoin as well as Litecoin. This will direct attention to the scarcity of the asset, there will only be 84 million Litecoins in existence. Historically, the price has surged higher around the time of the halving. Price for Litecoin is currently at around 117 usd.
Bitcoin mining difficulty hits record highs
Bitcoin reaching a new mining difficult All Time High. This means that the network is now more secure than it has ever been. Difficulty refers to the ease with which miners solve the cryptographic equations required to ‘mine’ a new block on the network.
Long time Bitcoin proponent and RT host, Max Keiser, had this to say:
Looking at the charts the trend is up on higher timeframes. Slightly bearish short term, as the Bitcoin price was rejected at the $9000 level, after a parabolic run from $3200 since last December.
A probable scenario would look something like this: Not financial advice, just my own opinion.
Written by Martin Berggren, market analyst.
Estonian companies make it possible to invest cryptocurrency in gold and silver
Aufort, an Estonian company
specializing in the investment of gold and silver, has partnered with
cryptocurrency payment provider Piixpay. Their cooperation enables
cryptocurrency owners to exchange digital money for the oldest money in the
world: gold or silver.
According to Erik Karu, one of
the founders and board members of Aufort, the new service is meant for
cryptocurrency owners who wish to protect their digital assets from volatility
and diffuse the risks related to it.
“Cryptocurrency is the world’s newest
form of money and its price can fluctuate dramatically over a short period of
time. However, precious metals have held their value for centuries, and trading
cryptocurrency for gold or silver allows investors to protect their assets from
these unpredictable fluctuations. Aufort and Piixpay provide this service to
cryptocurrency owners as an alternative opportunity to keep their assets in the
form they consider to be the best,“ said Erik Karu.
Raivo Malter, the founder of the
Estonian cryptocurrency payment platform Piixpay, emphasized that the strength
of their company lies in a fast and simple solution: offering their clients
other interesting services in addition to everyday billing.
“Cryptocurrency is a rather
complex and novel payment method, acting as a bridge between the old and the
new financial systems. On one hand, private individuals are able to pay using
cryptocurrency, and on the other hand, businesses can easily manage sales in
cryptocurrency whilst still using euros in their accounting,“ said Raivo
Aufort makes it possible to buy
gold, silver, and diamonds with Bitcoin, Bitcoin Cash, Litecoin and Dash for
the time being.
The gold and silver investment
specialists were previously known as SMI. After undergoing a period of expansion,
the company’s founders decided to rebrand under the name Aufort which reflects
the essence of their company better and enables them to expand globally.
Founder and board member Bert-Ken
Raudberg explained: “Aufort’s long-term goal is to make owning investment gold
more flexible and comfortable. We plan to come up with several interesting
technological solutions in the near future, which will be scalable for the
In the five years that Aufort has
been in business, the company has sold more than 76 000 grams of gold and
silver and has devised innovative solutions for giving gifts. They have also
served thousands of clients. The new trademark consists of two parts: Au
meaning gold and fort meaning a fortress. Together, this signifies a gold fortress.
PiixPay is synonymous with the following keywords: fast service, customer satisfaction and cybersecurity. Its payment solution relies on refined IT technology and enables the use of cryptocurrency in day-to-day transactions. The technology is identical to that of the banks in that it is fully automatic and follows the laws and inspections accordingly to prevent and avoid money laundering. Piixpay.com has been in the market for five years and the team works hard every day to follow regulations and come up with new services.