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Twitter is bearish, abuzz with chatter of a descending triangle that is forming on the Bitcoin (BTC) chart and with comparisons to the descending triangle that broke down in 2018 at $6,000.
Twitter is often wrong. Let’s first define the descending triangle.
A descending triangle is among the most famous classical “bearish” chart patterns used in technical analysis. It is created when price forms a descending trend line with lower highs, while a second horizontal trend line with equal lows evolves.
Strict chartists use candle wicks and require the touches to be alternating, with at least 2 touches to one line and 3 touches to the other, as seen below in a downtrend.
Many countries are cutting interest rates amid economic slowdown around the world. Indeed, U.S. President Donald Trump is also asking for lower interest rates. The European Central Bank (ECB) has just revived QE and cut rates to lift growth. This combination of factors could eventually end up helping Bitcoin (BTC) reach new highs.
Both Facebook and the People’s Bank of China, have announced their digital currencies and are looking to release them to the public as soon possible. What does this mean for financial inclusion and the global blockchain industry?
Josh Rager, back in June had referred to this same view. In his words, back then, he said he jokingly mentioned his thought which was BTC closing above the $11,700 mark. However, since then, bitcoin’s price has been trading sideways slightly below his forecast and the weekly support level of $9,500. Apparently, the market has taken Mr. Rager’s words more seriously. However, what’s left is to see a close above his suggested viewpoint.
Libra would substitute itself as a national currency, Bruno Le Maire. What’s the point of combating money laundering then? he says. However, Libra welcomes the scrutiny While Facebook (FB) is planning to acquire Swiss payment system license for Libra, France is not at all interested in letting its cryptocurrency project — expected to launch in 2020 — get off the ground.
France is planning to block its development in Europe, citing fears of the potential for abuse of market dominance and systemic financial risks.
Binance Coin is slumping from the temporary loss of U.S. traders, falling more than 4 percent as of the time of writing. First announced in June, today Binance restricted access for U.S. users.
Despite plenty of advanced warning, it appears that the market has not priced in the loss of such a valuable user segment.
Bitcoin, after flirting with $10,000 for several months has finally made a move. Unfortunately for the romantics in the market, that move points to the red of rejection rather than the green of getting somewhere.
On September 12, the king coin yet again dipped below its 100-day moving average, failing to consolidate following its revival from the earlier slip during the close of August. In the past when Bitcoin trudged below this key level of market health, a move upward meant a sign of sustenance, rather than temporary revival, as the current case is proving to be.
During the crypto bull market of 2017, everybody was happy. It wasn’t just the BTC maximalists, BCH enthusiasts, or proponents of ETH. Privacy coins like monero were doing great, and even charity-supporting “comic relief” coins like doge were riding high. Since that enchanted time, however, the diverse class of tokens known as altcoins has somehow faded into obscurity. Just recently though, the tectonic plates of alt-crypto deadlock appear to be rumbling, and change might be just on the horizon for the spare change of the crypto world.
The major altcoins tested key resistance levels in recent days, and while some of the top coins showed encouraging signs, a segment-wide breakout still hasn’t materialized. The bearish long-term setups remain dominant in the market, and even the relatively stronger BTC failed to build up bullish momentum, amid the pullback in the main global safe-havens such as U.S. Treasuries and gold
CoinDesk reportsthat the DLT platform Klaytn, owned by the South Korean giant Kakao, is about to list its KLAY token on the South Korean-based Upbit crypto exchange. This will be the first KLAY listing so far.
Last week, the Ground X company that works with Kakao to create and support Klaytn open ledger platform, spread the word on Medium that by the end of September the platform’s native KLAY token would be added to Upbit Singapore and Upbit Indonesia exchanges.
Bicoin.com has recently signaled that it has plans to introduce its own set of ideas that would help in enhancing interest in Bitcoin Cash (BCH). The firm, which is officially backed by crypto evangelist Roger Ver, also wants to include Bitcoin Cash derivatives to the official BTC spinoff.
According to David Shin, the head of its exchange unit launched recently, the idea here is to try and make BCH a global leader in the crypto market, second only to BTC. Prior to taking up his new post, Shin worked at TD Securities as the head of the Asian global equity derivative sales.
U.S. cryptocurrency exchange Coinbase intends to launch an initial exchange offering (IEO) platform in less than a year’s time, a top executive has revealed. The exchange has been the most dominant in the United States, although recent advancements by its rivals including Huobi and Binance seem to have rattled it. However, Coinbase U.K. CEO Zeeshan Feroz noted that the exchange still has an edge over its competition as it has nurtured a great relationship with the regulators.
Trump appears determined to copy the latest trend of the global economy. Central banks from Europe, all the way to Japan have adopted historically low-interest rates, with some even slipping into the negative for the first time in recent times; all in an attempt to recover a faltering economy.
Binance Coin has plummeted this week, decreasing by 4.37% to reach the current price at $20.55. This also caused BNB to drop beneath the lower range support at the $20.71 level, which could cause BNB to head toward $18. Binance Coin has been suffering over the past 30 days, dropping by a precipitous 29% and marking a decrease of 36% in the past 3 months.
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.