FibMarketWatch tarafından BITFINEX:BSVUSD sembolü için BSV - The Flippening - Strong Buy - Part 4

BITFINEX:BSVUSD: Strong Buy

Analysis Method: Fibonacci & Wave Theory

Immideiate Target: $380-$470 (Hit)

Near-Term (30-60 days): $1,400

Please see previous BITFINEX:BSVUSD analyses for further information

Long story short, COINBASE:BTCUSD was compromised by two competing factions of crypto engineers.

The factions working on the protocol BITSTAMP:BTCUSD couldn't come to an agreement on how to scale COINBASE:BTCUSD .

The disagreement led to COINBASE:BTCUSD being forked resulting in COINBASE:BCHUSD .

But, the factions continued to disagree which resulted in COINBASE:BCHUSD being forked. The fork created POLONIEX:BCHABCUSDT and BITFINEX:BSVUSD .

The disagreements put the 'Nakamoto Consensus' to the ultimate test.

Nakamoto consensus is a name for Bitcoin’s decentralized, pseudonymous consensus protocol. It is considered as Bitcoin’s core innovation and its key to success. The consensus protocol doesn’t require any trusted parties or pre-assumed identities among the participants.

Consensus can be reached by selecting the “longest” chain of valid blocks. In the Bitcoin whitepaper, and some other documentation, it is indicated that the honest chain grows the longest, assuming that 51% or less of the miners are malicious. Therefore, the longest chain can be considered to be the chain with the most invested Proof-of-Work:

In short, Miners use their hash to vote on the Blockchain.

Miners supporting POLONIEX:BCHABCUSDC will move their hash to mine its Blockchain.
Miners supporting BITFINEX:BSVUSD will move their hash to mine its Blockchain.

Before the Fork, BITFINEX:BSVUSD camp had over 70% of Miners hash. (Important)

Last week, Bitcoin Cash (BCH) personalities proposed a 12.5% tax on mining rewards that would ostensibly go to funding network development.

Cointelegraph reported last week on the proposed tax published by Btc .top CEO Jiang Zhuoer. The “infrastructure funding plan” would have miners send 12.5% of mining rewards to an entity in Hong Kong. The co-signing entities repped 27% of hashrates. Most controversially, the proposal included “orphaning” non-compliant miners — the practice of removing blocks from the chain that resembles a 51 percent attack.

Critics underscored the routing of funds to a CORPORATION instead of a nonprofit and the absenting of a voting procedure, which would mean COMPANY OWNERS would control BCH development. Other complaints included CHINESE government interference and profitability since the tax would affect miner revenues.

BCHABC's fate will be determined by Miners and Economics.

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Following Wave Theory, Wave 1 was supposed to extend but instead price-action broke down and we have retraced almost the entirety of Wave 1.

BTC's hash rate topped out on 3/5/2020 at 157,909 PH since then we have gone done to as low as 85,000 PH on 3/11/2020. Hash Rate does not completely determine price but since this is a new technology it does play a role.

Crypto Mining Servers do not catch viruses so it is highly unusual for BTC's hash rate to almost be cut in half.

China is currently the leader in Crypto Mining and has been known in the past to manipulate hash rates.

I'm expecting basic economics to correct this action. Hash is coming back online. It will be interesting to see if the Hash is reallocated.

Track the Blockchains here:

Hash Rates:

Block Size (Scale):

Profitability:

6 Hour Chart: Primary Wave 1 & 2:

Immediate Target Area: $465-$700

1 Minute Wave Count:

Will update with further timeframes and will track BSV's waves.

-FMW

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Facing the Financial and Economic Blow-Out

The financial systems have become based on the financialization and securitization of consumer spending and consumer debt.

If you stay at a hotel, your room payment goes through a whole series of companies or financial vehicles you’ve never heard of, some of which exist entirely to take a cut of that payment.

The same is true when you buy food, pay your utility bills, or buy a car. Your rent or mortgage payments, your car loan payments, are securitized and split up among scores of financial operations. Fifty years ago, financial speculation began to be far more profitable than investing in capital goods to produce anything, especially to produce it here in America. And your nation has become dependent on cheaper global value-added chains for the produced devices and goods it once produced.

Now what happens if we have to impose major quarantine in one economy after another—to save lives, which will most probably have to be done. Some of these so-called global supply chains will quickly become empty; it will be temporary, but it will disrupt every globalized national economy. As in China, production can come back. But consumption will be massively lost—demand will be quarantined—and will come back much more slowly.

Mass quarantine has now come to Italy, one of the G7 leading industrial economies. In the hope of containing an outbreak of Covid-19 in Lombardy, the region around Milan, and Veneto, around Venice, over 55,000 in the so-called Red Zone have been told not to leave the area for at least two weeks.

As this reality breaks through the illusions fed by central bank money-printing, the stock markets have fallen from record highs, taking massive plunges more rapidly than at any other time except the summer of 1929. Leading the collapse are consumer goods stocks, auto stocks, stocks of banks, and stocks of insurance companies. The plunge in bank and insurance company stocks points to the fact that U.S. Treasury interest rates are falling so fast that the immense mass of $600-700 trillion in derivatives contracts—which are overwhelmingly bets on interest rates—could blow big holes in these banks and their counterparties, the insurance companies.

Even bankers’ economic think-tanks and finance officials in Europe are suddenly talking about a Lehman Brothers moment in front of us. With a $30 trillion worldwide corporate debt bubble, not simply a historic high but an all-time high relative to GDP, there will be masses of corporate bankruptcies and a financial and economic breakdown—unless we act, and get the appropriate action from world leaders to create a new world credit system.

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Credit Markets are beginning to freeze...

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The 'Crisis' will accelerate the devaluation of the Fiat Currency system...

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Above: 5 Minute Wave Count

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Immediate Target:

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$138-$155

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(Bloomberg Opinion) -- Demand for U.S. dollars is so high that now there’s a squeeze in credit markets. And the Federal Reserve knows it.

Big corporations from beer brewer Anheuser-Busch InBev SA to Boeing Co. are drawing down billions from their credit lines. Fearful of margin calls and flash crashes, lenders are piling on reserves. Adding to the hair-raising market volatility, banks that typically provide short-term dollar loans are stepping back.

To ease the strain in dollar borrowing, the Fed took action Tuesday, restarting a commercial paper funding facility for U.S. corporates. It also allowed banks and broker-dealers that trade directly with the Fed to borrow cash secured against some stocks and higher-rated bonds.

But that doesn’t do much to ease funding tightness overseas. For evidence, look no further than currency swaps, which measure how expensive it is to borrow in dollars. If a Japanese bank wants to offer a dollar loan to a client, the bank, pocketful of yen deposits, would typically lend its yen in exchange for an American bank’s dollars using currency swaps. This practice is common across Asian markets — and the costs are soaring.

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Dollar Funding Is Freezing Up, and the Fed Knows It

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Now, this key corner of the funding market is in trouble. The three-month euro-dollar basis swap slumped to as much as negative 122 basis points Tuesday, the widest since December 2011. That’s despite the Fed promising to boost liquidity via its swap line with the European Central Bank just two days earlier. Stocks fell during European trading hours as investors feared a squeeze.

If the euro swap’s explosion was just a blip, how about markets without a direct line to the Fed? Dollar liquidity conditions in Asia have been tightening recently, too. In South Korea, the one-year won basis swap widened to about negative 90 basis points, from negative 55 basis points only two weeks earlier. Meanwhile, in Hong Kong, dollar funding is as tight as the 2011 European financial crisis, going by data from cross-currency swaps.

In the asset management world, the dollar is still the king. If it’s hard to get a hold of them, that doesn’t bode well for risk assets.

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Immediate Target Area: $184-$207

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Channel Trigger & Key Level $207.66

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Time Frame for Micro-Wave 5: <3 days

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Micro-Wave 5 was 'normal'

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Immediate Target: $239-$293

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Crypto is about to take center stage...

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Leg higher to $239-$293 should be imminent...

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A mysterious mining pool has just captured the majority of the Bitcoin SV (BSV) network hash rate, prompting concerns about the security of the network.

According to data by Coin Dance, an unknown Bitcoin miner, or miners, has significantly ramped up mining operations on the Bitcoin SV blockchain in the last few days. This now accounts for more than half of the Bitcoin SV hash rate—computing power that secures the network.

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As of yesterday (March 23), unknown miners contributed a total of 1,576 PH/s of mining power, up from 730 PH/s just a week earlier—a 100% increase.

Around the same time, a large amount of hash rate departed from Coingeek—a company that advocates for Bitcoin SV. It’s seen a 75% drop in the last week.

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The Pandemic Gives Digital Currencies Another Chance to Shine
Mar 24, 2020 at 17:30 UTC
Updated Mar 24, 2020 at 18:26 UTC

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In times of crisis and radical uncertainty, the search for alternatives that can improve everyday life intensifies. The Bitcoin project was launched in October 2008, just six weeks after Lehman Brothers filed for bankruptcy and the financial crisis went from bad to dreadful. Since then, many other private cryptocurrencies have sprung up, and even central banks have began contemplating digital currencies of their own. None of these digital currencies became widely available or adopted, though.

The coronavirus pandemic and its severe social, political and economic repercussions give digital currencies one more chance to shine. Unlike cash, digital currencies would not be a potential source of virus transmission or require persons to overlook social distancing when making payments. A central-bank digital currency (CBDC) available to the public could, moreover, allow the government to send money directly to the population as part of a stimulus plan without having to mail checks.

But can digital currencies, private or public, finally deliver on their promises and change money for the better? It does not seem so.

First, cryptocurrencies are an elitist type of money. Bitcoin (BTC), the reigning cryptocurrency until these days, may be attractive to the tech savvy and wealthy, but fails to meet the needs of people fighting for survival. As bitcoin enthusiast Peter McCormack reports from a recent visit to Venezuela, the persons who could benefit the most from bitcoin cannot use it. The poor and the less educated, who rely on cash and are the most affected by surging inflation, don’t have regular access to smartphones, connectivity or even electricity.

See also: 4 Reasons Central Banks Should Launch Retail Digital Currencies

Here lies a lesson for central banks. If they plan to issue a digital currency that can be used by banks and the public alike, they’ll need to adopt an all-or-nothing approach. Either everyone – no matter how poor, uneducated or old they may be – will have full access to the CBDC or it isn’t ready for launch.

Instability is the second reason why cryptocurrencies still fall short of revolutionizing money. Even if people from a country facing monetary disarray could flight for bitcoin to seek protection against hyperinflation, they would continue to face price instability. During the coronavirus outbreaks, bitcoin lost half its value in dollars in a matter of weeks – not what is expected from “digital gold.” As usual, liquidity and safety were only found in U.S. bonds and dollars.

So, the issuer or the people behind the currency still matter. Facing doomsday scenarios, both sophisticated investors in Tokyo and regular people in Harare trust the U.S. Treasury and the Federal Reserve above all. Does that mean governments are more reliable than private money issuers? Not necessarily.

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A privately issued digital currency could only present a credible alternative to this public-private model now in place if it could avoid bitcoin’s shortcomings. Global technology companies, like Google or Facebook, are the most favorably positioned to come up with an option in the short run. They can take advantage of their extensive user base and geographical dispersion to quickly provide the public with a digital currency that would facilitate not only local transactions but also cross-border payments.

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Coronavirus Stimulus Offered By House Financial Services Committee Creates New Digital Dollar

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As the markets continue to drop and the U.S. looks to Congress for agreement on a massive stimulus package to save the economy from impacts of the coronavirus pandemic, the newest offer by House Democrats includes a very forward-looking kind of stimulus: the creation of a ‘digital dollar’ and the establishment of ‘digital dollar wallets.’ In what will send shock waves through the cryptocurrency and blockchain industry, particularly for those following central bank digital currencies around the world, this signals the U.S. is serious in establishing infrastructure for a central bank digital currency.

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The bill establishes a digital dollar, which it defines as ‘a balance expressed as a dollar value consisting of digital ledger entries that are recorded as liabilities in the accounts of any Federal Reserve Bank or ... an electronic unit of value, redeemable by an eligible financial institution (as determined by the Board of Governors of the Federal Reserve System).’ Additionally, a digital dollar wallet is identified as ‘a digital wallet or account, maintained by a Federal reserve bank on behalf of any person, that represents holdings in an electronic device or service that is used to store digital dollars that may be tied to a digital or physical identity.’

A mandate also requires all ‘member banks’ establish a ‘pass-through digital dollar wallet’ to all customers eligible for the stimulus. Member banks include those banks that are ‘members’ of the Federal Reserve and regulated by the Fed. Additionally, ‘Non-Member’ state banks - those that not members of the Federal Reserve and regulated by the FDIC - could opt-in to offer pass-through digital dollar wallets as well.

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BSV Mining Pool:

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We have to be getting close to another breakout...

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1 Minute Wave Count:

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I believe we should start to see a rally here...

If your trading, STOP just below $165.50

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World Monetary System in triage:

The Federal Reserve has taken unprecedented steps to lessen the impact of the coronavirus pandemic on global financial markets and the U.S. economy.

Beginning with an emergency interest-rate cut announced March 3, the Fed has run through its 2008-09 crisis playbook and leapt into uncharted territory.

The steps include massive bond purchases, a slew of emergency facilities to bolster credit markets, actions with foreign central banks to ease the supply of dollars world wide and programs for lending directly to American businesses.

Here is a summary of those steps:

Rate Cuts

After a half-point cut on March 3, the Federal Open Market Committee held another unscheduled meeting on March 15 and lowered the target range for the benchmark federal funds rate to 0-0.25% -- matching the near-zero rates of the financial crisis. They also pledged to keep rates there until the economy is “on track to achieve its maximum employment and price stability goals.”

Bank Regulations

Starting March 9, the Fed began giving banks new guidance and new rules designed to free them to lend more to businesses and households. These eventually included lower capital and liquidity requirements, an elimination of reserve requirements and clearance to modify loan terms without consequence.

Repo Expansion

In three steps starting March 9, the New York Fed began offering additional liquidity to short-term funding markets. They are currently offering $1 trillion a day in overnight repurchase agreements and plan approximately $4 trillion in term repo during the cycle that ends April 13.

Quantitative Easing (QE)

On March 12 the central bank returned to broad Treasury bond purchases, using $60 billion a month that was previously directed to Treasury bills to help boost bank reserves. Purchases were aggressively expanded on March 15 to at least $500 billion in Treasuries and $200 billion in mortgage-backed securities.

Then on March 23 the Federal Open Market Committee declared QE unlimited, agreeing to purchase assets “in the amounts needed to support the smooth functioning of markets.” They also added commercial MBS to the buying list.

Swap Lines

The Fed has expanded the agreements it has with foreign central banks that allow it to exchange currencies, in this case pumping U.S. dollars out across the world to ease access to the world’s most important currency.

On March 15 and March 20, the Fed enhanced existing swap lines with five major central banks, including the ECB, BOJ and BOE, and on March 19 it created new, temporary swap lines with nine additional central banks, including those in Brazil, South Korea, Mexico and Sweden.

Commercial Paper Funding Facility (CPFF)

Fed announces an emergency facility on March 17 to purchase short-term company IOUs directly from U.S. corporate and municipal issuers. The total of eligible securities exceeds $1 trillion. The program is backstopped with $10 billion from the Treasury.

Primary Dealer Credit Facility (PDCF)

Operational on March 20, this emergency facility buys a wide range of securities, including investment-grade corporate debt, municipal debt, and mortgage- and asset-backed securities from primary dealers -- the big banks and broker-dealers licensed to transact with the Fed.

Money Market Fund Liquidity Facility (MMFLF)

Up and running on March 23, this emergency facility finances the purchase of of high-quality assets from U.S. money market mutual funds, including government debt, commercial paper and municipal debt. Eligible securities are estimated at $600 billion to $700 billion, according to Fed officials, backstopped with $10 billion from the Treasury.

Primary Market Corporate Credit Facility (PMCCF)

Announced March 23, this emergency facility will buy investment-grade corporate debt directly from U.S. issuers. Fed gives no size total program. Backstopped with $10 billion from the Treasury.

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Secondary Market Corporate Credit Facility (SMCCF)

Announced March 23, this emergency facility will purchase investment-grade corporate debt from U.S. issuers in the secondary market, and in ETFs that invest in that debt. Fed gives no size total program. Backstopped with $10 billion from the Treasury.

Term Asset-Backed Securities Loan Facility (TALF)

Announced March 23, this emergency facility will use $100 billion to purchase securities backed by credits to consumers and small businesses, including credit-card receivables, student loans, auto loans and leases, equipment loans and some small business loans. Backstopped with $10 billion from the Treasury.

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Manipulation of Hash...

A mysterious mining pool has just captured the majority of the Bitcoin SV (BSV) network hash rate, prompting concerns about the security of the network.

According to data by Coin Dance, an unknown Bitcoin miner, or miners, has significantly ramped up mining operations on the Bitcoin SV blockchain in the last few days. This now accounts for more than half of the Bitcoin SV hash rate—computing power that secures the network.

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Hash is diverted then all minings are sold into the market...

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Good News: The practice of hash manipulation becomes unsustainable (Increase Cost/ Decrease efficiency)

Still looking for a rally...

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SPY V. BSV (Daily)

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The "Flippening" has multiple meanings...

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Are we about to 'flip' the SP500

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Is the BSV Blockchain a solution to COVID-19?

Could it store an individuals test? Health Records?

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We are on the precipitous...

The World is about to CHANGE!

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Banks...

Energy...

REITS

Will lead the collapse...

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We have been trying to break the .382 Fib Channel for a few days now...

Finally broke above...

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Daily chart update:

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May be the big breakout I have been looking for...

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Want to see $206 break to validate the move...

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Daily Chart Update:

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I pointed this out in BSV-Part 3...

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Bitcoin SV 12-month performance surpasses gold, stocks and other digital currencies

BUSINESS 2 APRIL 2020

As we close off the opening quarter of 2020, we review the results of the past 12 months in the financial markets across different asset classes ranging from stocks, precious metals and digital currencies.

All of these assets share a common goal to provide individuals with a means to have a store of value that can preserve and increase wealth.

By far the performing asset over the past 12 months was Bitcoin SV (BSV), which saw a +147.50% increase in its value—nearly three times the amount of BTC and seven times the return of a universal safe haven gold. Ethereum (ETH), which has the second largest market cap in the digital asset industry, actually regressed -7.8% in value.

The S&P 500 and DJIA who continued to ride the biggest bull run in stock market history in the recent month had a decline to experience negative yields overall. It didn’t make a difference though as it still fell short against BSV overall by a very large margin of over +150%. This disproves the theory that all digital assets are correlated with traditional markets, however this may still ring true for digital currencies that are speculative in nature only and have no intrinsic value like BTC and ETH.

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