The largest cryptocurrency in the market – Bitcoin – tumbled below the $11,000 mark earlier today, reaching a low of $10,880.05 on Coinbase. According to CoinMarketCap, the cryptocurrency continues to rule the market with a whopping 68.5 percent dominance, but has recorded a loss of over 6 percent in the past seven days. At press time, the largest cryptocurrency was pictured trading at $10,883, while its aggregated value stood at $11,043 on CMC.
트위터에서 크립토 울프라는 이름으로 활동하는 분석가는 비트코인의 이번 조정 기간이 아직 충분치 않다는 점에서 연내 사상 최고가 경신이 어려울 것으로 전망했다.
그는 과거 비트코인의 역전 랠리 발생 후 이전 고점 경신까지는 189 ~ 203일의 조정 기간이 따랐음을 지적했다. 하지만 현재 조정 기간은 불과 45일로 역사적 기준에 크게 못 미치는 수준이다.
때문에 EWN는 비트코인이 울프가 언급한 역사적 패턴을 따를 경우 앞으로 5개월 더 현재의 상방향 트라이앵글에서 다기지를 거친 뒤 2020년 비트코인 반감기 이전에 상방향 돌파가 이뤄질 것으로 내다봤다.
The original cryptocurrency had a poor session on Monday, as it abandoned its attempts to recapture the $11,500 mark during the early hours of trading. The digital coin spent the rest of the morning session moving on a downward trajectory. After falling to an intraday low of $11,320.95, the coin experienced a slight uptick, which allowed it to temporarily retake the $11,400 level. However, BTC eventually closed the session at $11,382.62, well below its opening level of $11,528.19.
12일(현지시간) 투자 전문 매체 FX스트리트는 “비트코인이 중요 지지선에서 멈춰있다”며 “비트코인 가격이 추가 하락하지는 않을 것으로 보인다”고 보도했다.
이어 “7월에 이어 비트코인은 또 다시 1만1112달러가 강력하게 지지하고 있다”면서도 “만약 시장에 매도세가 강하게 몰리면 지지선이 하방으로 깨질 수 있다”고 덧붙였다.
Argentine peso shed more than 25% of its value against the US dollar after President, Mauricio Macro lost the first round of elections by a far greater margin than expected on Sunday, early results showed.
In response, the main Argentine stock market fell 35%. The S&P Merval Index experiences its second-biggest rout in the past 70 years by plunging 48% in dollar terms, reported Bloomberg. South America endured similar on-day sell-off in 2002 while only Sri Lanka has suffered a worse sell-off since 1950.
Argentina’s sovereign century bonds also dropped by the most since they were sold in June 2017. The notes tumbled to a record low, taking the yield to more than 12.2%.
Bitcoin price is struggling to climb above the $11,500 and $11,600 resistances against the US Dollar.
The price is holding the key $11,200 support, but it remains at a risk of more downsides.
There are two key bearish trend lines forming with resistance near $11,400 and $11,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price could decline heavily if there is a break below the $11,200 support area in the near term.
Global e-commerce giant firm, Amazon, has just announced that its Amazon Web Services (AWS) CloudFormation will be incorporated with the firm’s Managed Blockchain. AWS, the firm’s cloud computing division, will now support Amazon’s blockchain in the management and structuring of all its interconnected networks and member nodes.
Bitcoin charted an “inside bar” pattern last month, making $13,200 the level to beat for the bulls.
A convincing move above $13,200 would imply a resumption of the rally from lows near $4,050 seen in April.
A break below $9,049 (July’s low) would confirm a bearish inside bar reversal on the monthly chart.
The hourly chart indicates prices could drop below $11,000 in the next 24 hours or so.
The bearish case would weaken if lower-highs pattern on the hourly chart is invalidated with a move above $11,431.
Notably, the commission has not approved any cryptocurrency ETF so far. Surprising? I don’t think so. A few weeks ago, the US Treasury Secretary Steven Mnuchin stated during a press conference that bitcoin poses a “national security issue”. Presumably, this could be the reason SEC may never approve a cryptocurrency ETF to avoid dethroning the US dollar as the reserve currency.
But while stock market bears fear that a recession could vanquish the Dow Jones’ decade-long bull run, Morgan Stanley chief equity strategist Michael Wilson warned clients this week that global equities have actually been in a bear market for nearly two years.
Still, multiple sources — including Cointelegraph’s market information tools — report that Bitcoin’s price is currently under $11,000. Furthermore, according to cryptocurrency information platform CoinMarketCap, Bitcoin is currently trading under $11,000 on many exchanges, including BitMex, Binance, OKEx, and Huobi.
Essentially Rodriguez is saying that the current macroeconomic factors are reflective of long-term, structural challenges that have long existed in various economics and are just now showing themselves.
This does not mean that macroeconomic challenges are directly responsible for the majority of BTC price action. In fact, macro-economic factors are short-term price indicators for Bitcoin price action and should not be fully relied upon to predict price movement.
코인데스크코리아와 부산광역시는 오는 9월3일 해운대 파크 하얏트 호텔에서 디지털 자산 거래소 박람회 ‘DAXPO 2019’를 연다. 각 분야 전문가들을 초청해 다양한 관점에서 디지털 자산 생태계가 맞이한 새로운 국면을 진단할 예정이다.
블록체인 기술과 산업에 전문성을 인정받는 미디어 5사가 공동으로 아시아 최대 규모 블록체인 컨퍼런스 ‘코리아블록체인위크 2019(KBW 2019)’를 오는 9월 27일부터 10월 4일까지 개최한다.
9월30일부터 10월1일 양일간 그랜드 인터컨티넨탈 서울 퍄르나스에서 팩트블록의 ‘코리아블록체인위크(KBW) 2019’ 주간(9월27일~10월4일) 중 메인 행사로 열리는 디파인 컨퍼런스에는 국내외 주요 기업들과 블록체인 프로젝트들이 대거 참여할 예정이다.