The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of CURATION. Every investment and trading move involves risk. You should conduct your own research when making a decision.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
The latest uptick fully reverses the bearish slide seen on markets last week. At the time, BTC/USD lost hundreds of dollars in minutes to produce recent lows of $9,350.
As Cointelegraph reported, analysts then began espying chances of a reversal, which subsequently came true despite heavy pushback from commentators who conversely favored further downside.
Now, the bullish sentiment was continuing, with DTAP Capital founder Dan Tapeiro highlighting one metric in particular — Bitcoin’s DeMarker Indicator — which, he said, suggested more gains.
The inverse correlation between gold and the stock market is pretty clear. But bitcoin cuts through this chart with almost no correlation at all.
The chart shows bitcoin for what it really is: a zero-correlation, asymmetric asset. It might not sound as sexy as a ‘safe haven’ but it’s actually much better. Bitcoin is an entirely new asset class, with its own cycles and catalysts, mostly unfazed by the traditional market forces.
Bitcoin has been increasing in price over the past 2 days. Analysts believe this present uptrend will usher bitcoin into a massive bull run that will eventually see bitcoin in the $11k zone. Meanwhile, margin traders keep getting rekt on BitMEX as the derivative exchange recorded about $68 million worth of BTC shorts liquidation within the last 24 hours.
All eyes are back on the world’s largest digital asset as bitcoin price shot up over $10,000 yesterday. BTC appears to have found a little stability in this price range for now, but there are still the detractors that are adamant that it is a speculator driven bubble.
The chart, which used derivatives giant BitMEX as its basis, underscores the behavior which has dictated market sentiment in Bitcoin’s volatile summer 2019.
As Bitcoinist has often reported, Bitcoin trading over $10,000 has produced bullish sentiment, while dips below have quickly flipped opinion bearish.
The phenomenon was visibly in play as recently as last week, when a trip to $9,350 followed by stabilization around $9,600 saw calls of further big drops.
Due to the many regulatory hurdles that the United States Security and Exchange Commission (SEC) has placed on the implementation of the listing of cryptocurrency exchange-traded funds (ETFs), including Bitcoin ones, Vaneck Securities and Solidx Management have decided to use creative ways and means to be able to achieve this.
Adam Tache, an analyst at Murad Mahmudov’s cryptocurrency fund, Adaptive Capital, touched on the similarities between now and late-2018/early-2019 in a recent analysis.
He pointed out that should history repeat, meaning Bitcoin’s historical price action playing out on this smaller time frame, BTC will hit $11,500 in the coming week. This fractal, which is a bump and run reversal (BARR) bottom pattern, implies around 10% upside from the current price of $10,400.
OKEx and Binance take the lead when it comes to returns from exchange-based token sales in 2019. While almost all projects are risky and volatile, and some go on to lose most of their value, for those that realized profits, the selection of the two market operators was the best.
Although a total of seven exchanges reached positive returns for their IEOs, with average ROI ranging between 173% and 19%, some projects went underwater. Binance DEX was surprisingly unsuccessful, with coins that went to trade on the decentralized market losing a net 73% on average.
On September 3, the co-founder of the Morgan Creek Digital investment fund, Anthony Pompliano, tweeted that the market dominance of Bitcoin has reached the 70-percent level.
He stated that the most dominant coin in the market is getting stronger, despite the recent fluctuations. John McAfee is another permanent Bitcoin bull that believes in the ultimate BTC price surge no matter what. Recently, when the Bitcoin price went down and dipped below the $10,000 mark, McAfee twice urged his followers to stay calm and not to pay attention to brief fluctuations of the asset’s price.
We can see that this is the third or fourth time, depending on how you count, that Bitcoin has tested the support level in the low $9,000 area. After the latest breakdown below the large uptrend (bold red line), we could say that the pattern looks more like a descending triangle than what it resembled before: a sideways triangle pattern. The difference is that the former is generally bearish, although this expectation is simplistic and often does not pan out (a “meme pattern”).
Even though most sentiments from many analysts are still reasonably bullish, Bitcoin’s current trajectory has not exactly been encouraging causing many hodlers to consider taking a step back from investment moves made with bullish sentiments. Now a trader and analyst has disclosed certain forecasts about Bitcoin’s long term and medium-term future.
The steady growth of the cryptocurrency market has caught the attention of a lot of major tech giants, including the likes of Facebook, JP Morgan and now, Telegram. Out of these, Facebook’s Libra remains the most talked-about project, not only owing to its huge user base, but also due to the several hearings which have posed hurdles to the launch of the coin.
Back in end July 2018, Binance announces the acquisition of Trust Wallet which has now become the official wallet of Binance crypto exchange. However, in the latest announcement, the world’s largest crypto exchange announced the successful acquisition of a crypto derivatives exchange, JEX. It is a Seychelles-based crypto-asset trading platform serving its customer with crypto derivatives product including options and futures contracts.
Bitcoin Is Tax-Free (in Portugal), Ripple-PNC Partnership is Live | Cryptocurrency News [cointelegraph.com]
코인데스크코리아와 부산광역시는 오는 9월3일 해운대 파크 하얏트 호텔에서 디지털 자산 거래소 박람회 ‘DAXPO2019’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(KBW2019)’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.