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Bitcoin (BTC) price is stuck within the descending triangle formation for some time now and slowly moving towards the apex of it. Interesting enough, the apex of the triangle is around the actual launch of Bakkt on Sept. 23.
So is BTC price in a bearish pattern or is it just re-accumulation on a higher level? Let’s take a look at the charts.
Tom Lee, bitcoin bull and chief executive of Fundstrat Global Advisors, believes bitcoin will rally in coming months, driven by a breakout in the equity market.
Lee, speaking on CNBC’s Fast Money program, said that tailwinds were building for bitcoin, albeit slowly. Institutions have been coming in and the technical data is looking better, he said, but bitcoin has stalled recently because the macroeconomic outlook has stalled.
Gundlach, the CEO of Los Angeles-based DoubleLine Capital that manages more than $140 billion in assets, was delivering a presentation to an audience in London when he remarked about the probability of a recession before the 2020 presidential election.
On a macro scale, Bitcoin has been consolidating for over 2 months; however, a much lower timeframe of 1 to 4 hour indicates that Bitcoin broke bullish after more than 3 days of descent.
The price of Bitcoin tapped a higher $9,800 level and broke out of a falling wedge. The price rose by 5.41%, breached $10,000 and hit a high of 10,400, after which, the price started its descent and is yet to find a support level. The price is still bouncing between the larger pattern as it moves toward the tightening apex.
“Chicago Mercantile Exchange Inc. hereby notifies the Commodity Futures Trading Commission that it is self-certifying an increase of the spot-month position limits for the Bitcoin Futures contract, commencing with the October 2019 contract month and beyond, as noted in the table below. Specifically, the increased spot-month limits shall go into effect at the close of trading on Monday, September 30, 2019, for the October 2019 contract month and all contract months thereafter. The submission shall become effective Friday, September 27, 2019.”
It’s flashing green for bitcoin today as investors cling to a glimmer of hope that the US-China war might be coming to an end and as the markets react positively to the stimulus delivered by the European Central Bank (ECB) on Thursday.
US President Donald Trump said yesterday that he would like to strike a comprehensive agreement with China in an effort to end the more-than-year-long tariffs war. However, he is open to an interim deal with China.
Payments firm Square is rolling out a new Cash App feature that will allow users to make free stock trades, per a Bloomberg report.
The launch date of this new feature is still to be determined, although the firm has already begun testing it in recent weeks, according to Bloomberg.
As reported by CoinDesk, the British regulator FCA has granted CF Benchmarks a status of an administrator, today, on Friday 13 September. After the European Benchmark Regulation (EU BMR) comes into effect at the start of 2020, crypto trading and investment companies will be able to take advantage of CF Benchmark’s indexes while working with any financial products on the EU market.
XRP is in a borderline position and leaves little room for doubt.
Bitcoin demonstrates its power and positions itself as the emerging leader.
Ethereum is in an intermediate situation, far from risk but also from opportunity.
The second week of September comes to an end, and it is an excellent time to zoom out and examine the big picture.
The apparent low volatility that we are witnessing in recent weeks hides critical situations that endanger the macro technical structures for top leaders of the cryptocurrencies market.
The end of crypto bear market is imminent, according to Zhao Dong—a renowned over-the-counter (OTC) trader who also happens to be one of the most influential bitcoin billionaires in China. The billionaire recently stated that he was convinced that the bear market would soon end.
Dong, who is also a major shareholder at Bitfinex crypto exchange and the founder of RenrenBit, a crypto lending platform, aired these sentiments on Weibo (the Chinese version of Twitter). His posts were meant to give the public his predictions of the crypto market for the next three months.
The head of the Facebook-led Libra Association has responded to claims that the cryptocurrency project threatens nations’ financial stability.
In interview with French daily Les Echos on Thursday, Bertrand Perez, the association’s managing director and COO, played down concerns over potential disruption to the monetary policies of central banks with currencies included in the Libra reserve – a basket of fiat currencies and government bonds that will back up the Libra digital currency.
Ripple CEO Brad Garlinghouse answered to the recent accusations levelled at his company of dumping XRP and the threats made by token holders of taking Ripple over via hard fork in an interview with CNN. In his words, the Ripple team not only “would never do that” (dump the coin), but he also claimed that the company is still “the most interested party in the success of (the) XRP ecosystem.”
Data analytics firm Skew tweeted a 24-hour trade report of bitcoin futures, showing Binance processing about $170 million worth of trades on the day of its debut. The figures almost matched the volumes recorded following Binance Futures beta launch. The Malta exchange noticed about $150 million worth of futures transactions across the two test phases, which prompted it to go full-fledged on Friday, with a special gift attached.
The blockchain devices market is expected to grow into a $1.3 billion market by 2024, a new report has revealed. The report by research firm MarketsandMarkets revealed that the sector will be propelled by the rising adoption of blockchain technology in retail as well as increased venture capital funding for the industry.
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.