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.
Fundstrat Global Advisors co-founder Tom Lee believes that Bitcoin does well when the S&P 500 market index moves up. Though Bitcoin might act as a macro hedge against global turmoil in some instances, it has largely performed negatively when the S&P 500 has dropped. It will be interesting to see how Bitcoin moves in the next few weeks.
The cryptocurrency market, including the likes of Bitcoin, has been struggling to see any bullish movement since 24 September. Even today, Bitcoin began on a bearish note, with its prices going below the $8K mark again. However, towards the latter half of the day, Bitcoin and much of the altcoin market started to record some upward movement.
Bitcoin (BTC) has again defended historically strong price support near $7,700, keeping the hopes of a corrective rally alive. The top cryptocurrency faced selling pressure and fell below $8,000 over the weekend, contradicting the possibility of a recovery rally above $8,500 suggested by a key technical indicator on Friday. Even so, all is not lost for the bulls, as the widely-tracked 100-week moving average (MA) support has held ground. BTC almost tested the key technical line at $7,753 in the Asian trading hours before rising back above $8,000 around 12:20 UTC.
Tether and affiliate exchange Bitfinex have been hit with a class action lawsuit that was filed in the United States District Court for the Southern District of New York. The lawsuit is based on the 2018 research paper that alleges that the Bitcoin’s historic bull run was propelled by Tether’s printing spree.
The BTC/USD pair had been on a downward move for the last five months. The market hovers above the $10,000 price level for three months leading to the formation of a symmetrical triangle. It is a situation where the supply and demand reaches equilibrium. The equilibrium status does not last for long as the sellers overwhelm the buyers and the market falls to another low above $8,000 price level. The market fell to a period of consolidation to form a bearish flag. The price is likely to pause and continue its original downward move. In other words, the next direction for Bitcoin is likely to be the low above $5,300 support level. The price target is calculated by measuring the distance between the previous swings high to the swing low of the flag pole.
The surging rates in the repo market last month was a signal of a looming crisis obscured to the general population. It is veiled not because the authorities are purposefully hiding it but because they don’t understand it. We’re talking about the global U.S. dollar shortage. In other words, almost all countries in the world, especially the U.S., need liquidity in the form of the U.S. dollars to meet their financial obligations and liabilities.
Seychelles-based crypto-futures exchange CoinFLEX plans to offer derivatives that will allow traders to bet on whether Libra will launch by the end of 2020 or not, reports Bloomberg. CoinFLEX will hold an IFO, initial futures offering, on October 24th and this will be the third offering of futures for tokens that do not exist yet.
The benchmark cryptocurrency was trading 1.73 percent higher – at around $7,995.82 – as of 1053 UTC. It spiked particularly after the beginning of the European session that, in turn, wavered against mediocre industrial data from Germany. The upswing also followed a bad market opening of US futures and China’s yuan, both of which fell earlier during the Asian session as Beijing hinted a no-broad deal with the US.
Forget the recent bearish momentum and Bakkt’s disappointing launch. Here are five reminders of why you should still be HODL’ing your Bitcoin.
1. More Secure Than Ever
2. Over $7 Trillion in Value
3. Miners Earned $14 Billion in Value
4. Bitcoin’s Massive ROI
5. Bakkt’s Launch Is Still Historic
It’s now the third week after Bitcoin (BTC) broke down from its consolidation pattern, and we’ve yet to see another major drop from the $8,000 area. But considering that the trend now looks likely to be down, we can reasonably expect that $8,000 will not hold for much longer — but here, there are some counter-signs. In addition, Bitcoin dominance is now rapidly waning, opening up the potential for altcoin rallies — and indeed, we are starting to see some major altcoins pop off.
Nicholas Merten, a crypto analyst, recently shared his thoughts on the cryptocurrency market. Merten believes a turn around is imminent – a transfer of wealth from bitcoin to major altcoins. Nicholas Merten, a crypto analyst, famously known on YouTube – DataDash channel, brings hope to altcoin baggers once more. Ever since the market entered into the “crypto winter” season, major altcoins are yet to recover from its effects.
Casa CEO Jeremy Welch gave a talk on the various threats associated with Bitcoin security at the recent Baltic Honeybadger 2019 conference in Riga, Latvia. As part of his talk, Welch provided thirteen examples of how Bitcoin users could lose access to their funds.
Ten of these threats involved attacks from hackers rather than something like user error or hardware malfunction. Let’s take a closer look at the ten different ways hackers can try to gain access to your Bitcoin private keys.
An American entrepreneur and a fairly well-known cryptocurrency adept John McAfee launched the decentralized exchange (DEX), working on the Ethereum blockchain. McAfee DEX began its beta operation today, October 7th.
CoinGeek Seoul recently wrapped up, and it featured some of the most important Bitcoin SV (BSV) personalities and companies in the world. But perhaps the biggest personality in attendance was Dr. Craig Wright, and he joined Stephanie Tower at the conclusion of the event to sum up his feelings about the two day event.