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- A pair of crypto analysts are beginning to flip bullish on Bitcoin.
- Luke Martin of Venture Coinist says if past is prologue, BTC’s recent crash is linked to the expiration of CME’s Bitcoin futures, and the leading cryptocurrency is now poised to rebound.
- However, he warns that if Bitcoin can’t remain above $7,800, his thesis will be invalid.
Not a great week for BTC price, but not the disaster that some would claim. We started the week with the threat of a drop as low as $7200. Meanwhile, analyst Alex Krüger was looking at triangles and pronouncing bitcoin more robust than during the 2018 bear market. A run at $8k would provide a great ‘long’ opportunity, he said.
According to multiple analyses, yes.
Prior to the recent crash, Willy Woo of Adaptive Capital noted that a number of on-chain metrics readings indicate that Bitcoin is “closing up the opening act of the bull market, and awaiting the middle [of the] bull market to commence”. He looked to a number of indicators, including the Realized Price and the VWAP Ratio, drawing clear comparisons between the opening acts of previous bull markets and the recent price action.
Another user, @MashersBag also shares a similar view with that of @BTC_Ke. He believes knowing what happened in 2017 would give everyone a good idea of why things turned out that way. Nevertheless, he believes that events in 2017 should never be compared to what’s happening in the market at the moment.
A number of reasons support this, points out Lee explaining that BTC has been “overbought and needs to see weaker sentiment.”
Moreover, Bitcoin Misery Index has been saying this since July and BTC is stuck until the S&P 500 ends its “endless macro” period.
The most important thing, he said is reward halving next year and, “Wide range just BTC biding time until halvening.”
- Asian institutional investors, mostly high-net-worth individuals and family offices, are increasingly showing interest in digital assets, with some having allocated part of their portfolios to crypto hedge funds.
- The gloomy macroeconomic outlook and the news of Facebook’s Libra and China’s central bank digital currency have fueled this interest, market participants say.
- Crypto hedge funds in the region face hurdles to getting off the ground, including licensing, banking, custody and insurance.
Digitization, disruption, blockchain, and frictionless payments. It’s amazing how prominent figures from the financial elite can provide a pretty detailed description of decentralized money without uttering “bitcoin” or “crypto.” But the fact of the matter is that clever businessmen in any industry, banking is no exception, would quickly spot emerging competition, analyze its strengths, and move to catch up with it before it’s too late. Cryptocurrencies bring financial evolution that’s hard to ignore anymore.
“It may be that the listing of physically settled futures contracts (that enables some holders of physical Bitcoin e.g. miners to hedge exposures) has contributed to recent price declines, rather than the low initial volumes,” the banking giant said in its recent report.
“But people totally don’t understand what TON is,” Goroshevsky said. The Telegram Open Network, he explained, is a sharding protocol that will provide a highly scalable, highly versatile platform to a large community, thanks to the popularity of Telegram’s messaging app.
The recent crash in the crypto market left almost all the coins including king coin taking a beating. Despite the several announcements and developments in its ecosystem, the price of the Binance coin [BNB] had fallen by 24.56% over the last seven days. At the time of writing, BNB was priced at $15.57 and recorded a 0.52% fall in price over the past one hour. The short term charts of the coin are hinting toward a breach in bullish patterns.
Bitcoin is dealing with a moderate loss since the morning. The currency is holding itself tight around $8,000. A few days ago, the BTC price was at $10,000, but then it fell. The traders and enthusiasts are looking forward to a recovery in the coin which would lead the market towards the price rally. The intraday price movement in the chart is reflecting not much of a movement and is expected to remain boring.
The Japanese House of Representatives recently passed new crypto asset regulation affecting exchanges and custodians — the Payment Services Act and the Financial Instruments and Exchange Act. However, the country’s crypto gambling industry still endures strict gambling regulations.
“Japan has very strict rules regarding gambling and the same applies to crypto gambling,” Joseph D. Hugh, CFO of international cryptocurrency betting platform Jukebucks, told Cointelegraph, adding:
The US has no current plans to block Chinese companies from listing on US stock exchanges, according to a Bloomberg report that cited a US treasury official. Treasury spokeswoman Monica Crowley told the publication: “The administration is not contemplating blocking Chinese companies from listing shares on U.S. stock exchanges at this time.”
This was at a time when Bitcoin SV was in its nascent stages, fresh off the heels of a contentious hard-fork in November 2018. Losing the exposure afforded to it by the world’s largest cryptocurrency exchange was viewed as a death-blow for BSV at the time.
Fast-forward six months and Bitcoin SV remains perched among the top ten cryptocurrencies by market cap, while Binance has gone from strength to strength in the meantime.
However, Ayre thinks Binance amounts to little more than a casino, and that its patrons don’t realise the house was rigged against them from the start.
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.