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The following are key drivers:
* CME/CBOE Settlement Dates
* Mining Pools
* Cost Price of Mining
* Weather fluctuations in countries of Miners
* Artificial Manipulation – like Bitmain
* They control the max amount of Mining for Bitcoin Cash
* FUD against Bitcoin
* Institutional Trading Desks
* China is a big player – despite them not stating
* They control most Mining
* Block-Size Issues?
* Transaction cost and Speed –
* Political changes
* Wealth Funds or Family offices purchasing as holdings
* Zero Hedge makes comment on USD Price implications to Bitcoin
* Block reward rate vs cash inflow determines a huge % of current price
* Each block has a reward for the miner. That is the flow rate of new bitcoins being created and entering the marketplace. It is safe to assume that miners are immediately selling to cover short term costs.
* I believe that the current reward is 12.5 per block. This means that every 9-10 minutes there is another 12.5 bitcoin for sale, and if the new cash flowing in for purchases cannot accommodate ~1800 BTC being created per day then price drops.
* Every 4ish years the reward rate gets cut in half, called a halving. The next halving is likely to occur around April of 2020, where the reward will become 6.25. This means that less money needs to flow in to maintain current price, or if the same money flows in it will increase price provided by[u/Umsco226](https://www.reddit.com/u/Umsco226).
This has been provided without comment, until a later article.
**How did the Crypto Market perform?**
The Main altcoins that were up included, TRX, EOS and NEO.
**TRX,** will continue to skyrocket past Digital expectations as a result of their Mainnet that will be released on the 31stof August 2018. Their CEO, Justin Sun has stated that their will be a somewhat Marketing war.
Market sentiment from this has been awarded a AAB Rating.
**NANO**, a coin that has done 400% over the past 10 Days has increased their marketing awareness, building up their communities.
This has caused their market sentiment to go from a BBC to a ABB.
**EOS,**the coin has seen highs of $6.20 from a low of $4, over the past 2 weeks. This comes from a high market sentiment.
**Where is BTC Going?**
Bitcoin’s Market sentiment is Neutral, this is owed to the vast amount of Cryptocurrency Traders seeing the inability of where Bitcoin is going.
Currently, Bitcoin on the higher time frames, is on a Bull Pattern. This comes as surprising for many considering the slope of what Bitcoin has increased by 4%.
The Bullish Argument is that Bitcoin retraces to $7050, before shooting up to $7200 over the next day.
The bearish argument is that Bitcoin is going to trace all the way to either $6900 or $6679.
There are volume gaps in all three directions.
​[The Original Article is taken from Nouvive.com](https://nouvive.com/market-analysis/daily-observations/item/512-29-aug.html)
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Welcome to “crypto” world!
– A domain of Blockchain technology
– A market of cryptocurrency
– A closet of Bitcoin payment system.
So, here is the trend or you can term as a “digital currency world” with a great move to go up in the game.
If you are avoiding Bitcoin and cryptocurrency today, then, you will be going to fall in a bad ditch tomorrow. It is actually the present and future of currency that doesn’t know how to cease steps. Since its inception to till date, it is growing and helping many individuals all over the world.
Whether it is Blockchain to record transactions or Bitcoin system for handling entire payment structure or Erc20 token wallet to define rules as well as policies for Ethereum token- everything is going hand-in-hand and towards the new ray of currency in the world.
Sounds great, isn’t it?
Moreover, with the advent of such successful currency mode, many of the firms love to be part of this game. In fact, it’s all about assisting businesses or organizations to get Blockchain technology or cryptocurrency without any hassle through a reliable Blockchain development company. With loads of knowledge and potential, these companies develop this currency and play a vital role in the digital economy.
Just for a nano-second, let if we assume that cryptocurrency won’t exist anymore, then what will happen?
Might be, time will counter-attack on your thought!
Very first launched by Satoshi Nakamoto, Bitcoin was the colonizer and from that initiation, an innovative digital currency evolved with spectrum of good things.
So, the question arises- does cryptocurrency development or its originator cryptocurrency development company will vanish or stay till the end?
Actually, it’s not possible to predict future, but we can say that cryptocurrency or Erc20 or Blockchain or Bitcoin wallet Development Company will be there with same flair of enthusiasm and passion to lend a hand to business verticals and organizations.
John Donahoe, the former CEO of eBay has said- “Digital Currency is going to be a very powerful thing.”
And, it is proving very accurate, as the time crawls.
Actually, it has some valid grounds behind the success of this concept.
With cryptocurrency, blockchain is associated. So, each transaction is recorded in this public ledger, avoiding any hoax. And, all the identities are encrypted to overcome the identity theft.
Erc20 takes care of all rules and protocols, so no infringement of rules and orders. If you are in, then don’t forget to contact Erc20 development company and get it developed to be within rules.
You are the sole owner:
No third party or no other assistant or no electronic system to evaluate what you are doing. Just you and your client maintaining end-to-end experience. Isn’t it a great concept?
Withal, the settlement is instant and it’s all between you and your vendor without any other disruption. At the end of the day, it’s your call.
Internet has made everything within reach and at fingertips. It plays an indispensable role in digital currency market or exchange market. You will have a better option for currency exchange instead of using traditional and time-consuming ways. And, a wonderful way to be clued-in as an enthusiastic for cryptocurrency sphere.
If you are a business owner and anticipating to welcome cryptocurrency in your zone, always move ahead with a determination shot. Approach a trustworthy vendor or cryptocurrency exchange development discuss everything with all cards opened and then hit the ball in court.
Source by Vikram Singh
Bitcoin Exchange rates
|1 BTC =||4151.69000 USD|
|1 BTC =||3652.98000 EUR|
|1 BTC =||79.9400000 LTC|
|1 BTC =||26.0200000 ETH|
|1 BTC =||3197.07000 GBP|
|1 BTC =||5751.04000 AUD|
|1 BTC =||5394.00000 CAD|