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According to findings from Arcane Research reported by Norwegian crypto news outlet Kryptografen on Sept. 24, CME Group’s Bitcoin futures settlement dates, in particular, appear to negatively influence BTC markets.
Analyzing price behavior from January 2018 to August 2019, the company found that 75% of the times immediately before CME issued payouts, Bitcoin fell.
CME was one of the first operators to launch Bitcoin futures in December 2017. Since then, interest has peaked, with this year seeing frequent all-time highs for trading volumes.
A former official from the U.S. Federal Reserve has responded to a proposal from the chief of the Bank of England that a cryptocurrency could be more beneficial in intentional markets than the U.S. dollar.
Bloomberg wrote on Wednesday that the governor of the British central bank had argued last month that a Libra-like “Synthetic Hegemonic Currency,” best provided by the public sector, would help end the dominance of the dollar as the global reserve currency. It would, he proposed, also be a better option than another fiat currency, such as the yuan, ultimately replacing USD.
In a speech on the hearing of the topic, “Digital currencies, focusing on Libra“, in the German Parliament, Mr. Benoît Cœuré, Chair of the CPMI and Member of the Executive Board of the ECB, stated two major issues facing the global payment systems – access to digital payment systems and the cross-boarder retail payments system.
The ECB member further said Libra, the digital asset Facebook is creating alongside a consortium of tech companies, provides a solution to these challenges.
Bitcoin’s (BTC) massive break down from a months-long consolidation marked a return to volatility for the leading crypto, as it now endeavors to carve out a new market structure. A symmetrical triangle pattern has formed and should break soon, mirroring in the extreme minor the same sort of drama from two days ago: which way will it break?
Looking in tight at the 1-hour chart, Bitcoin looks ready to put in the second portion of its move after completing a small consolidation after the first dump. There are two things that suggest that the coming move will be down.
Bitcoin has shown resilience by bouncing off key support. In the short-term this a signal for a minor reversal to the upside. However, affinity to declines will remain high as long as BTC/USD is unable to rise above the zone around $9,000.
Following the devastating 10% drop on Tuesday, Bitcoin opened the Pandora box paving the way for a transition from a bullish trend to a bearish trend. The next target on the downside is $7,200.
Additionally, we should have a look at the indicators. The MACD has started forming a red zone of the histogram, while the Stochastic is entering the overbought area. This data altogether may signal the beginning of a downtrend. The main confirmation of such a trend will be a Black Cross on the Stochastic.
At the time of writing, Bitcoin is trading at $8,301, which is below the current 200-day moving average of $8,322.
The Bitcoin price has already crossed below the 200 MA since the brutal 15 percent drop, but it never stayed there for a long time. However, if there a UTC close below this major support level, the anticipated descent to $7,500 would be pretty much confirmed.
As traders were taken aback with this move — shocked by the severity and speed of this flash crash — negative sentiment reigned supreme on cryptocurrency forums. Within hours after the move, analysts were calling for $4,000 — a price point which would put Bitcoin decidedly back into a bear market if it was reached.
However, data shows that these harrowing fears of a redux of the now-infamous Crypto Winter of 2018 might be shortsighted.
Firstly, Hauge ignored daily levels, and concentrated on 365-day moving averages. This gives a far more stable set of data with which to examine overall trends, rather than sometimes jittery daily peaks and troughs.
From this we can see that the number of daily transactions is at an all-time high. So the network would certainly not seem to be at risk of desertion any time soon.
Bakkt’s launch didn’t have the firepower that most retail participants were expecting. The contract is currently running with approximately 60 BTC of volume. This has led many people to call it a “failure” and “non-event”. As further corroborated by Financial Times, this is the start of financial legitimacy and not a quickfire move to the top, September 25, 2019.
The digital currency realm is loaded with an array of cryptocurrencies. Bitcoin has gained immense popularity across the world among other forms of virtual currencies. On similar lines, Gram also surfaced as a well-accepted in the digital money arena. Developed by Vkontakte Social Network and Telegram messenger, it has been eyed by miners and traders and investors across industry.
Ripple has added a new banking partner to its list of customers, something that would help the company expand its network of financial institutions.
The second-largest bank in South Korea, Shinhan Bank, is now a new Ripple customer that is expected to be using the company’s services in the future.
Bloomberg says a key indicator suggests Bitcoin’s pullback is likely to continue.
The GTI global strength indicator, which is used to identify the strength of an asset’s price by comparing the movement of the daily close, shows BTC is not yet in oversold territory.
Analyst Josh Rager says if BTC can’t break through resistance at about $8,650, it could soon test support at around $8,100.
Canadian messaging platform Kik had previously raised about $100 million in an ICO for its native cryptocurrency, Kin, on the Ethereum blockchain. However, the U.S. Securities and Exchange Commission [SEC] recently accused the instant messaging platform of conducting an unregistered token sale. In fact just two days ago, Founder of Kik Messenger, Ted Livingston, published a blog post revealing that the company would be closing for good.
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.