Archive October 2018

Should we let cryptocurrency be the one that got away?

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What is cryptocurrency? The game changer is the Bitcoin technology for handling money and transactions. But with everyone watching the price rise and fall in order to make money, people forget about the underlying technology of Bitcoin. When most people hear about Bitcoin, chances are they were being told “If you were to buy a single bitcoin worth around R14,000 in January 2017 and wait until around Christmas 2017, that same bitcoin would be worth R300,000.
Bitcoin’s skyrocket in price in 2017 has shone a limelight on cryptocurrencies. Early adopters have become millionaires and even billionaires. Latecomers, however, have seen quite the opposite. In December, the price of bitcoin peaked over R300,000, before dropping to below R100,000 in January. While the value of cryptocurrency may be interesting, the real question should be what is cryptocurrency?
Why ‘Crypto’?
The word “crypto” stems from the word “cryptography”.  Cryptocurrency uses encryption techniques in order to maintain anonymity on the network while also keeping all transactions recorded on a public record, unable to be altered.
Bitcoin transactions work without a third party. Meaning, if I wanted to send bitcoin to a family member in Lagos, all I would need is her bitcoin address and I’d be able to send funds from my wallet directly to theirs. This transaction will then be recorded on the blockchain publicly, although there is no way of knowing who or where this transaction originated from as it is encrypted.
Sending South African Rand over to Lagos would require a foreign exchange transaction, cross-border payment intermediaries, SWIFT, as well as fees for everyone involved in the transaction. Oh yeah, don’t forget up to a week waiting time for the transaction to be processed. Although cryptocurrencies have transaction fees as well, they are often far lower, and the payments are processed quicker in certain situations (such as this one).
What is cryptocurrency?
Since the end of 2017, the words ‘Cryptocurrency’, ‘Blockchain’ and ‘Bitcoin’ have been circulating all over mainstream media. While they definitely peak interest in a conversation, what does any of it really mean?
Let’s start in 2010. Bitcoin is the first cryptocurrency to the surface, created by the elusive Satoshi Nakamoto in 2010. When it was first released, bitcoin had little to no value. For example, back in 2010 two pizzas cost 10,000 bitcoins. At present, 10,000 BTC is worth around R1 billion.
Cryptocurrencies are a form of digital cash, allowing you to transfer funds anywhere in the world without a third party. To do this, cryptocurrencies use blockchain technology, paired with a network of people who verify transactions by mining. Mining cryptocurrencies require specialized computers that use large amounts of energy and processing power in order to solve complex mathematical problems.
Altcoins
With the rise of bitcoin, comes – altcoins. Altcoins are cryptocurrencies that aren’t bitcoin. Currently, there are over 2800 cryptocurrencies in circulation, but interestingly, not all of them are currencies.
With new companies being formed on blockchain technology, new coins are created in order to raise funds in a process called an Initial Coin Offering (ICO). ICOs are used for a multitude of different cases, ranging from applications that deal with healthcare, gaming, online identity and more, all on the blockchain.
The fashion industry recently adopted its first cryptocurrency named Fashion Coin. This aims to decentralize the fashion industry by linking the customer directly to the designer. An anti-animal cruelty cosmetic company named Lush has also started to accept bitcoin as payment via its online UK store. In light of this, it seems as though blockchain technology could be good to combat counterfeit goods.
Blockchain Technology

Blockchain, the technology behind cryptocurrencies, is "definitely an opportunity" in the long term for businesses, says UBS Group CEO Sergio Ermotti. #CNBCCrypto https://t.co/7CxpoEkNbF pic.twitter.com/xA634MRYNL
— CNBC (@CNBC) October 8, 2018

Thousands of computers connect to the blockchain, each with a copy of the blockchain history record. It’s hard to explain what is cryptocurrency as the technology behind is complicated, with huge computing calculations. There is no official copy, and all computers on the network are equal, mutually verifying the ledger. As a result, there is no centralized authority (Such as a bank or a government). This is one of the most revolutionary aspects of the technology.
Unfortunately, if you’re not trading cryptocurrencies you’re probably not using the blockchain. However, one way you can use blockchain technology in an interactive way is to buy your very own digital cat! Meet CryptoKitties – a site where you can buy your own collectable, tradeable cat that is digitally unique.
CryptoKitties provides a fun and interactive way to learn about blockchain technology. Something that may very well become a big part of our everyday lives.
Scams
Explaining what is cryptocurrency goes hand to hand with scams. Yes, whenever there is money involved, there are people trying to scam other people! Of course, with enough good things coming out of a single entity (Blockchain technology) some bad has to come with it as well, as I said. With cryptocurrencies becoming more mainstream, and even the less tech-savvy people getting in on it. Consequently, scam artists are becoming opportunists.
Newcomers will find it far harder to differentiate a scam from an authentic business opportunity. But with experience, it will become extremely easy. Some warning signs of a scam can include:

Guaranteed returns on investment
100% success rates
Promises of higher returns if you get your friends to invest
Simply being too good to be true

If you are able to recognize an old school Ponzi scheme, this should be familiar terrain. Most people who fall victim to these scams are often the uninformed and those who don’t even have the money to lose.
People often buy in and believe in fraudulent business models as they market by telling stories about people who have made large amounts of money, consequently ‘changing their lives’. To someone who could really do with a life-changing investment, sense often goes out the window, making it easy for them to fall victim to these scams.
Where do I start with cryptocurrency?
Get rich quick schemes do not exist
If you feel as though you’ll be able to manoeuvre through the cryptocurrency world, dodging any fraudulent obstacles in your way, it may be time to start. The first rule when entering this realm is that “get rich quick” schemes do not exist. Investing in crypto is often high risk as they are volatile assets sitting in a regulatory grey area. Thus, if something were to go wrong, no one will be able to assist you.
In South Africa, you are able to use our exchange to buy your crypto assets. We offer a wide range of coins, such as; Bitcoin, Ethereum, Litecoin, Monero and many more. Do some independent research on what crypto asset is in high demand, wait for a good time to purchase it, sell it at a good price and repeat. Also, it is wise to learn what not to do, for example buying cryptocurrency using a method like PayPal.
Is Blockchain technology truly revolutionary?
Cryptocurrencies, paired with blockchain technology, and to be able to explain what is cryptocurrency, we need to dive a bit more into this technology.  Blockchain technology has the potential to revolutionize the world of finance as we know it. Many big banking industries are fearful of what the technology could mean for them if it becomes as big as people expect it to become. As a result, blockchain advocates have their feet planted firmly, unmoved by the volatility in price, nor the negative headlines that plague newsfeeds.
People often compare current blockchain technology to the early days of the internet, back in the 90s. In those days, people had no idea what to even use the internet for, and imagining social media and mobile payments was unheard of. Who would have guessed the internet would become so important, that it needs to be on our phones 24/7.
Bitcoin and cryptocurrency in its current state are still very new. It’s impossible to conceive all of the new technology and uses that could sprout from this technology, but we know it’s going to be amazing.
Did all of this explain to you what cryptocurrency is? Probably Not! It’s a deep ocean that requires years of learning and constantly exploring what is cryptocurrency. It is simple, and it’s also that complex.
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Neo 3.0: How Does it Fit Into the Ever Changing Crypto Space?

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On July 10th, the NEO development team published a blog post detailing the changes and upgrades coming to the network in the next few months. Today, we will be talking about NEO 3.0, and the benefits and details that come with it.

What’s Next for NEO? NEO 3.0!
Here’s a sneak peek unveiled by NEO Core Dev Erik Zhang. https://t.co/Ln5NHZzKcs
— NEO Smart Economy (@NEO_Blockchain) July 10, 2018

NEO 3.0
The 3.0 update is one of the biggest upgrades to the NEO Smart Economy. It is going to be a completely new platform, focusing mainly on large-scale enterprise customers. The main intention of this update is to introduce better scalability as well as an optimized economy. Erik Zhang, the co-founder of NEO, stated;
NEO3.0 will be an entirely new version of the NEO platform, built for large scale enterprise use cases. It will provide higher TPS and stability, expanded APIs for smart contracts, optimized economic and pricing models, and much more. Most importantly, we will entirely redesign NEO’s core modules.
One of the most important upgrades in NEO 3.0 is the increase in TPS (Transactions per second). Currently, NEO is able to process 1,000 transactions per second. Compared to Ethereum (25 transactions per second) and Bitcoin (7 transactions per second), Neo has already blown them out of the water. However, if NEO wants to enter the large-scale enterprise market, this number isn’t enough. Traditional finance companies such as VISA, are able to process more than 20,000 transactions per second during peak times. 
The NEO development team will work toward increasing the TPS in the following ways:

Refactoring the code and core modules
Optimizing the network protocol
Implementing the feature manifest and permission system for NEO contracts
Preparing for dynamic sharding

Adjustments to the economic model
One of the most debated changes in NEO 3.0, is the big changes to the NEO economic model. As it stands, the NEO currency is indivisible. This means if you’re looking to invest in NEO, you have to fork up the money to buy a whole coin. GAS, the token used for transactions on the NEO network, is also indivisible. Since system fees are rewarded as GAS to all NEO holders, there is a tendency for these coins to get stuck in “black holes” as a result of lost NEO private keys.
In order to combat these problems, the NEO development team proposed these upgrades;

A small increase in the supply of GAS every year
Rewarding consensus nodes
Making NEO 3.0 divisible
Allowing divisible GAS fees

The senior research and development manager at NEO, Malcolm Lerider, suggested that increasing the supply of GAS and rewarding consensus nodes will shift their interests. Consensus nodes face the risk of becoming misaligned with NEO users’ interests as a result. Instead, they will become economically incentivized. This could lead to consensus nodes manipulating the price of GAS for maximum profits.
As it stands, consensus nodes are the bookkeepers of the NEO network. With no economic incentive, these nodes generate blocks for the chain and determine the price of service fees. Since these consensus nodes are voted in by NEO users, people are more likely to vote for nodes that offer the lowest service fees, whilst voting out any nodes that start to increase prices.
GAS Tokens
Despite these upgrade proposals being disputed by the majority of Neo’s userbase, not everyone thinks it’s a bad thing. A user by the name of ‘saltyskip‘ actually agrees with these changes. Saltyskip stated that the GAS tokens that are stuck in “black holes” causes the supply of GAS to depreciate, consequently making the price of GAS go up. The deflationary aspect of GAS tokens gives holders a reason to store their tokens as opposed to spending it. However, this is somewhat detrimental to NEO holders as they benefit from an increase in GAS usage seeing as GAS is their intended utility token.
Saltyskip believes that GAS tokens should be circulating amongst the NEO ecosystem in a high velocity. This is because he believes the NEO token is meant to be held, and the GAS token is meant to be spent. With an increase in the supply of GAS, the token should increase in velocity within the network, benefiting NEO holders in tandem.
Outlook for NEO 3.0
Coupled with the increases in transactions per second, and the reworked economic model, NEO 3.0 also works toward making cross-platform smart contracts. The goal of this is to allow smart contracts function outside of the NEO blockchain, with other compatible blockchains. This will greatly increase the ease of use regarding different blockchain’s interoperability.
To see the details of the NEO 3.0 update, refer to their GitHub page.
What do you think the NEO 3.0 update will offer to the cryptocurrency industry? Could this be a step forward for the industry as a whole? Or will Neo users be the main demographic to benefit from this? With better scalability in blockchain technology, implementing cryptocurrency in our everyday lives will be far easier than it is in its current state. Tell us your thoughts below.
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Ethereum to Rand Trade in South Africa

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In South Africa, the cryptocurrency industry has been booming. Bitcoin adoption in South Africa has been reaching record-breaking levels. According to google trends, South Africa has the highest number of searches regarding bitcoin than any other country in the world. But what about altcoins? Ethereum to Rand trade is a lane that many people tend to avoid, sticking with bitcoin, but could Ethereum be profitable?
Ethereum in South Africa
The release of Ethereum is in 2015, created by VitalikButerin. Since it’s launch, the price of Ethereum has seen a significant increase, prompting many people to compare the worth of this cryptocurrency to bitcoin. These comparisons have sparked numerous debates about the pros and cons of Ethereum, consequently aiding in the growth of this coin’s popularity.
In South Africa, Ethereum is actually more popular than bitcoin. Both entrepreneurs and investors have been seduced by the advantages Ethereum has over bitcoin, although some people still have difficulty in purchasing these coins.
Purchasing Ethereum used to be a long process. You had to buy bitcoin, then sell that bitcoin for Ethereum. Thanks to ice3x.com (South Africa’s first Ethereum exchange) we South Africans can now instantly buy both ether tokens and bitcoin with ZAR. You are able to Convert your Ethereum to Rand trade and vice versa with only a bank account or debit/credit card. We have a blog post explaining how to buy Ethereum in South Africa.
Luno (a custodial ethereum wallet) disabled their instant buy and sell options for Ethereum due to the blockchain congestion. For a while, this was a problem in South Africa as trading Ethereum became a tedious process. This extreme blockchain congestion came about when CryptoKitties’ website launch caused a skyrocket in Ethereum transactions. Consequently, transactions fees increased, as well as the confirmation times for each transaction. The rise in fees and slower service is one of the main reasons people move away from Ethereum in South Africa.
Ethereum versus Bitcoin?
What is the benefit of doing an ethereum to Rand trade compared to a bitcoin to Rand trade? As bitcoin is the most valuable cryptocurrency available, it is a better store of value than Ethereum. Owning a few bitcoins is better than owning a few Ethereum coins. This is -in part- due to the fact that bitcoin has a unit cap of 21 Million. There are both pros and cons associated with this.
This is a benefit as the value of bitcoin is expected to go up as the number of coins in circulation gets close to the 21 million cap.
However, a unit cap means that as the limit is met, if 2 million bitcoins are lost, they will not be put back into circulation. Miners also won’t be earning any bitcoins from mining, instead, they will just receive transaction fees. This could make mining bitcoin less profitable unless the money rewarded in transaction fees increases.
Ethereum, on the other hand, is going to have a constant supply of coins. This is great for miners as the costs of mining won’t go up as the unit cap nears.
Additionally, the blockchain technology for bitcoin is primarily based on the currency alone. Ethereum’s blockchain technology serves as a foundational cornerstone for other application uses.
As a means for transfer of wealth, Ethereum is better than Bitcoin. Last year Ethereum had a higher number of daily transactions than Bitcoin. This is because Ethereum’s fast confirmation times, allow more people to exchange and pay for goods and services using Ethereum. As well as faster transaction confirmations, Ethereum also offers lower transaction fees. This is because Ethereum’s blockchain is a newer, more efficient technology.
Ethereum to Rand Trade options in South Africa on iceCUBED Exchange!
We have added ETH / ZAR trading market to the iceCUBED exchange. If you would like to buy or sell ETH in South Africa, you can do that on the exchange here. Ethereum deposits are now 100% free and trading fees are competitive.
What do you think about this sentiment? What would you invest in Ethereum or Bitcoin?
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How do I store bitcoins? Updated October 2018!!!

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How do I store bitcoins? And is this the first thing I need to consider? Before you purchase bitcoin, you’re going to need a place to store them. Bitcoin wallets store the private keys that you need to access a bitcoin address and spend your funds. They come in different forms, designed for different types of devices. You can even use paper storage. It is important to secure and back up your bitcoin wallet. Wallets can exist either on your computer or mobile device, on a physical storage gadget, or even on paper. In this post, we will be looking at the different types of bitcoin wallets.
Electronic / Software Wallets
Electronic wallets can either be downloaded as software or an internet service provided by a company hosting wallets on the cloud. By installing your own software wallet, you gain the security of being in control of your own bitcoins. Most wallet software has a relatively easy configuration, and many of them are free. However, they often require a fair amount of maintenance. This is because if you are not backing up your wallet regularly, you face the risk of losing all of your coins in the event that your computer gets stolen/corrupted. However, if you have more than one private key storage, this won’t be too much of a problem.
The original software wallet is the Bitcoin Core Protocol, the same program used to run the bitcoin network. People tend to look for alternatives to Bitcoin Core to store bitcoins. When you download the program, you also need to download the entire public ledger for bitcoin, which is over 145GB. Because of this, most wallets you will find online today are “light” wallets. To counteract needing 145gb of free space on your computer, these light wallets work by syncing you to the ledger as opposed to downloading it. An example of this would be Electrum. Electrum is a desktop-based SPV (Simplified Payment Verification)  electronic wallet service that also offers cold-storage options to its users.
Online Wallets
Cloud-based wallets are an option for those looking for convenience. With an online wallet, you are (usually) able to access your bitcoins from any device that connects to the internet so long as you have the right passwords. All online wallets are extremely easy to set up, and many of them come with desktop and mobile apps for easy access on the go. Some online wallets even offer offline storage for people who are concerned about the security of their coins. (this is an easy – but risky method to store bitcoins)
Though this might be a benefit for some, although it does come with disadvantages.
Keeping your private keys on a cloud service means you’re putting all of your trust in your host’s security measures. Plus, you have to trust that your host won’t run off with your coins, disappearing from the public while shutting down the site. Worse still, what would happen if their wallets are frozen or confiscated?
Paper Wallets
Often used as gifts, or simply for cold storage, paper wallets are very simple to use and create. People often use paper to store public and private keys of a bitcoin address, ideal for long-term storage. Paper wallets are impossible to hack as they are physical, and not connected to any network. The only way to lose your funds when using a paper wallet is for the paper to be lost, stolen or destroyed. Services such as WalletGenerator and BitcoinPaperWallet give people the ability to quickly generate and print a paper wallet. After sending an amount of BTC to that address, your paper wallet is ready to use.
Hardware Wallets
A hardware wallet is a physical device that stores cryptocurrency such as the Ledger Nano S, similar to paper wallets. These devices occasionally connect to the internet in order to enact bitcoin transactions. Hardware wallets are one of the most secure options out there when it comes to keeping your bitcoins safe. As these devices spend most of their time offline, they are relatively impossible to hack. Your safest option to store bitcoins is a hardware wallet. Keeping your bitcoins offline keeps them out of the grasp of hackers. To add an extra layer of security to your hardware wallet, regularly back up your wallet.

Check us out in the most recent @TezosFoundation Grantee Spotlight! And thanks to @LedgerHQ for being so great to work with #tezos #baking https://t.co/ferMUG8f4v
— Obsidian Systems (@obsidian_llc) September 27, 2018

How Safe is it to Store Bitcoins in a Software Wallet?
If managed well, all bitcoin wallets can be safe. The private keys stored in your wallet are the only way for anyone to access the balance and transaction logs tied to a bitcoin address. As long as no one has access to your private keys, your coins are safe. Of course, if safety and security are in your best interest, then selecting either a hardware or paper wallet will be your best option for securing your funds.
Many investors use a mix of different wallets for their different cryptocurrency-related needs. Some store bitcoins on one device and altcoins on another. Large amounts of bitcoin used for long-term holding is often stored on a hardware/paper wallet offline. Their spending balance used for liquidity and everyday purchases in bitcoin will usually be stored on an online wallet for ease of access on a mobile or laptop. Your choice of a wallet will vary depending on your needs, and how technical you’re willing to get.
Whichever option you may choose, please be vigilant. Do frequent backups, store your hardware/paper wallets in a safe location, and if you have a trusted person, give them access to your backup files so if you lose them, there will be a spare backup. It’s often a good idea to keep a paper storage for your wallet’s private address and store it somewhere safe. This will come in handy in the event that your hardware wallet goes missing and you need to access your wallet.
What do you think the best type of bitcoin wallet is? Do you have any favourite method to store bitcoins? If so, let us know why in the comments below! We look forward to hearing from you.
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Ledger Cryptocurrency Hardware Wallet GIVEAWAY | OCT 2018| iCE3X

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The iCE3X Crypto Wallet Giveaway allow participants the chance to get their hands on a brand new LEDGER Nano S cryptocurrency hardware wallet. We are offering the Ledger Nano S as the first prize for the lucky draw in our giveaway (which has an approximate value of R2000.00). The competition is running from 1 October 2018 and will finish on 31 October 2018 at 12 am GMT+2. Ledger Giveaway October 2018 runs now!!!
Your Online Security
Online security is very important and most noteworthy when it comes to your cryptocurrency.
As everyone knows you should never store your cryptocurrency on an exchange or custodial wallet, but rather in a wallet that you control the private keys for.
The Ledger Nano S is one of the latest “next generation” hardware wallets on offer by the French company, Ledger. It is also the best combination of security and ease of use for storing your cryptocurrency securely.
6 Ways to enter the Ledger Nano S Competition
LEDGER Crypto Wallet Giveaway | OCTOBER 2018
How To Enter
There are 6 different ways to enter the crypto wallet giveaway. Firstly you can simply enter using the entry widget in this post and get as many extra entries as you like. Remember to share your affiliate link and tag us on social media, or else you can not be eligible!
You MUST share your affiliate link and tag us in the post for your entry to be considered.

Especially relevant is to find your affiliate code here: https://ice3x.com/account/affiliates
Tag us on social media when you share your affiliate link using: @ICE3X
Like the iceCUBED Facebook page https://www.facebook.com/ICE3X

Example of a post:
Trade cryptocurrency in #SouthAfrica with me on @ICE3X exchange here https://ice3x.com?ref=348576 Cryptocurrency: #ADA #BTC #BCH #ETH #LTC #DASH #ZEC  #DOGE #XMR
If you use the above example, please also remember to change the affiliate link, to your link on the exchange which you can also find here https://ice3x.com/account/affiliates. Learn more about the affiliate program and the commission structure on the exchange here: https://ice3x.co.za/affiliate/
Congratulations to the Winners of the September 2018 Competition:
Our lucky 1st prize winner for the September 2018 giveaway is Justin Michael from Cape Town. You can also see the list of TFDP winners below:

Congratulations @JustinMichael3X you are the lucky winner of the September 2018 Ledger Giveaway! Support will be in touch to confirm your details.
Congrats to our 9 runners-up, you all receive tfdp's#giveaway #iCE3X pic.twitter.com/AChko6831x
— iceCUBED Exchange (@ICE3X) October 1, 2018

Rules for the Crypto Wallet GIVEAWAY

You can enter our Crypto Wallet GIVEAWAY as many times as you like. In fact, you should set a daily reminder 
Please share your affiliate link as a status update/comment. Furthermore, you have to tag us (@ICE3X) for your entry to be considered for the Ledger Competition August 2018.

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Bitcoin Price during September 2018

Bitcoin Price during September 2018

The post Bitcoin Price during September 2018 appeared first on Cryptocurrency exchange: buy/sell/trade bitcoin & altcoins | iCE3X.
Bitcoin Price September and what more. Bitcoin has been on a rollercoaster this past year. The price of bitcoin went from beginning 2018 on a high of R225,000 in January; to plummeting to around R90,000 in August. Even though bitcoin is currently trading at half the price it was worth in January, the cryptocurrency has managed to keep it’s head above water, floating around the price of R95,000.
Bullish Reversal
Bitcoin on international markets went through a bullish reversal on September 21st. Correspondingly, a number of different altcoins experienced steep gains. Bitcoin was going for $6,741, and within a 24-hour basis the price of bitcoin went up by 4.6%; the highest it’s been in the 16 days prior.
After a 5 week low of $6,100 that happened this Wednesday (19th), Bitcoin made a recovery that was likely fueled by an increase in investor demand for altcoins. For example, XRP Ripple – the third largest cryptocurrency by market capitalization – rose 42% over the past 24 hours. Also, about 18% of the total XRP trading volume originates from BTX/XRP pairs. The bitcoin price September analysis from Bitcoin Exchange Guide suggested traders take a neutral position, which may have been good advice in hindsight.
Aurora (AOA) was up by 57% on the 21st and is the best performing cryptocurrency on CoinMarketCap. By the same token, about 60% of its total trading volume is coming from AOA/BTC pairs.
Similarly, MONA’s 43% rise in price is most likely being pushed by MONA/BTC and MONA/JPY pairs according to CoinMarketCap.

The #crypto market is starting to heat up; a bullish sentiment is in the air.
We are seeing higher lows on the #Bitcoin daily chart.
Has #BTC bottomed out and is this the start of a reversal? My vote: YES Retweet if you agree#cryptocurrency #trading #charts pic.twitter.com/KJLOCsTdj2
— Tales From The Crypt Keeper (@DahCryptkeeper) September 27, 2018

Altcoin / Bitcoin relationship
It may be worth noting that most altcoins are often traded against the major coins such as Bitcoin and Ethereum. This means that money has the tendency to flow into altcoins through bitcoin, creating upside pressure on the top cryptocurrency.
This could result in the price of bitcoin seeing further gains if the altcoin rally continues to attract new investors to the market.
When looking at the charts, the most convincing move above $6,600 (September 14th’s high) paints a bullish picture, albeit short-term at the moment.

As you can see from the above chart, bitcoin moved past the double bottom resistance line of $6,600 on the 21st, confirming a bullish reversal is taking place.
At this rate, the price of bitcoin may, in fact, move to test the upper edge of the pennant pattern. The pennant pattern is currently located at $7,050. A UTC close above that level could possibly add credence to the higher price lows that have been set over the last 3 months, whilst adding the potential for a move towards highs above $8,500.
Bitcoin Price September 2018 & Volatility
Bitcoin has charted lower price highs, as well as lower price lows (pennant) since June. As bitcoin has been trading sideways for so long, both the bulls and the bears are sitting on the sidelines waiting for a strong directional bias. The result of this is that bitcoin’s volatility has hit the lowest it’s ever been since December 2016.
When measured by standard deviation across several cryptocurrency exchanges, bitcoin’s volatility is at it’s lowest since July 2017.
It could be worth noting that in most cases when an asset goes through an extended period of low volatility, a strong swing in either direction is usually what comes next. Using the same logic for the price of bitcoin; we could be expecting a big change in direction on the market soon.
Summary

Bitcoin’s recovery from $6,100 seen in 48 hours on the 21st could be due to a surge in investor interest in altcoins.
The double bottom breakout has opened the doors to $7,050. A UTC close above that level would confirm a pennant breakout, boosting the prospects of a sustained rally to $8,500.
On the contrary, acceptance below $6,600 would neutralize the immediate bullish outlook. A UTC close below the pennant support will likely put the bears back in the lead.

If you look at the bitcoin price September, positive signals are flowing. It looks like a good time for bitcoin. With herds of people flocking to cryptocurrency and the prices potentially rising again, now seems like a good time to get back into the swing of things. It may be smart to either invest now or wait for another dip to buy low. Bitcoin could potentially go up in value at the end of the year, which could be a motivation to invest.
Plan your Trade & Trade your Plan.
Let us know how you think the rest of this year will go. Do you think the price of bitcoin will go up or down in value? Does it even matter?
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