Curate Bitcoin 10/16/2019 by dobobs

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.

Current Market Price @CryptoCompare

Bitcoin Price Falls Under $8K With ‘Ugly’ Scenarios on All Timeframes []

Bitcoin Price Falls Under $8K With ‘Ugly’ Scenarios on All Timeframes
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.

Data from Coin360 shows the largest cryptocurrency put an end to its sideways trading style on Wednesday, falling several hundred dollars in minutes. Markets at first rejected a more precipitous fall, with some exchanges showing Bitcoin reversing at exactly $8,000. At press time, those levels had given way again, under pressure while fluctuating below the $8,000 barrier on local lows of $7,930.


Crypto LocalBitcoins Chart
According to data from Coin Dance, last week registered its third-lowest volume since August 2017.

Bitcoin’s price is currently consolidating after a whirlwind of negative news. Firstly there was Bakkt’s disastrous launch which failed to bring substantial institutional investment into the market, and now P2P trading site, LocalBitcoins, is witnessing a massive drop in volume.

Bitcoin Underperforms as Investors’ Focus Remains on Brexit []

bitcoin, cryptocurrency
Bitcoin price slips as speculators/investors shift focus elsewhere | Image credits:

Bitcoin’s losses came on the day China surprised traders with a sudden injection of $28 billion into the financial system. The People’s Bank of China (PBOC) added the said amount through its medium-term lending facility to banks. The injection came ahead of the release of Chinese economic data coming Friday, hinting it would show a further slowdown in the domestic market.

Bitcoin Price Will Likely Hit $11.5K In Next 6 Months, Says Historical Data []

According to analyst PlanB, creator of the Stock-to-Flow model for charting the price of Bitcoin 00, the next six months should see bullish sentiment return in full force. The reason, he argues, lies in Bitcoin’s history. Before the previous two block halving events in 2012 and 2016, BTC/USD surged 140% and 86% respectively. If such a pattern repeats this time, the door is open for an advance from current levels up to $11,500.

Bitcoin Still Pointing Down, Move Likely Soon – Price Analysis []

Indicators looking down
If BTC does break $8k and head down, we can expect support to hold — for a while at least — at the next big support level between $7,500 and $7k. | BTC chart by TradingView

Looking on another daily chart with indicators, we see that the histogram has started to clearly roll over. If BTC does break $8k and head down, we can expect support to hold — for a while at least — at the next big support level between $7,500 and $7k.

Bitcoin Dominance And Volume Simmer Down; Grayscale’s Report Shows That Institutional Investors Are Moving To Altcoins []

At the start of April this year, bitcoin’s dominance stood at a little over half of the entire cryptocurrency market, but its dominance increased significantly to peak at 72%. However, in the past weeks, bitcoin’s share has tracked back by almost 6% to its current level of 66.3%. This can be explained by Grayscale’s Q3 report which shows that institutional investors are now diversifying their cryptocurrency positions.

Bitcoin Could Consolidate Until Next Halving in May, Says Cryptocurrency Trader []

While the third halving has not yet occurred, it is expected to occur sometime in May 2020, possibly earlier. Twitter cryptocurrency analyst @davthewave used a logarithmic growth curve in order to determine future Bitcoin price movement. Interestingly enough, he predicts a period of consolidation and a slight decrease until May of 2020, at the time when the halving is expected to occur.

Telegram Might Postpone Issuing Its Gram Tokens till 2020 []

Even though the company is not based anywhere in the U.S., the SEC claims that Telegram not only failed to register properly but also was not entirely forthcoming with its investors, most of whom are American. The hearing for the suit by the SEC against Telegram is expected to take place on October 24, at the New York Southern District Court. Regardless, Telegram is reportedly considering its options, the safest of which involves a postponement for about 6 months, or as long as a year. News from TASS, a Russian source with a main focus on the cryptocurrency market, has it that Telegram could abandon the issuance for now.

Binance Futures marks new daily volume record at over $700 million []

Blockchain data analytics firm Skew markets has reported that Binance’s BTCUSDT Futures product has recorded a new daily volume record of over $700 million on 15 October. While this pales in comparison to the $1.9 billion volume recorded on BitMEX on the same day, it does mark a substantial milestone for the product launched just over a month ago.

The “Death” of Libra will make Way for China’s Digital Currency to Thrive – RBC Analysts []

Libra has faced so much pressure since its whitepaper was released in May this year. This is mainly due to regulatory scrutiny which the U.S lawmakers have subjected the project to which has made the future bleak and caused Libra’s partners to flee. While this is not a pleasant development for the project, it certainly will be good for China’s digital currency if Libra disappears for good.

Crypto Exchanges Continue to List Hundreds of Dead Coins – Report []

Source- Longhash

The report mentions that exchanges are not carrying out due diligence and exposing customers to projects which will not be beneficial in the long run. The study analyzes more than 300 exchanges and found that 7 exchanges have listed over 1000 dead cryptocurrencies. Crypto exchange CREX24 topped the list with 179 dead crypto projects. One of the leading exchanges IDEX has also listed 158 dead projects of its total of 763 cryptos listed.

Source- CoinCodeCap

CoinMarketCap now publishes interest rates on cryptocurrencies, allowing users to compare and choose []

Dubbed “Interest by CoinMarketCap,” the page has launched today with 33 cryptocurrencies and stablecoins. It covers information from major lending platforms, including BlockFi, Celsius Network, and Binance, among others. Users can find annualized interest rates, deposit terms such as minimum duration before realizing returns, and other information about these platforms.

How to Use Twitter Sentiment Analysis to Trade Bitcoin []

Twitter sentiment analysis is a three-step process.

  • Data extraction uses the Twitter Firehose to grab tweets relevant to a coin. AI steps in right from the beginning. It attaches a sentiment tag to every tweet.
  • Evaluation eliminates spam, duplicate posts, and filters the data stream.
  • quantifiable sentiment rating is then derived from the aggregate data.

The exciting bit is the correlation between the price of the tracked asset and this sentiment score. With some coins, this correlation is positive. With a handful of exceptions, it is negative. This is impossible to accomplish manually. Those looking to trade based on sentiment will thus need a specialized sentiment analysis system.

EY Launches Blockchain Tool to Help Bring Accountability to Public Finances []

The firm, one of the Big Four accounting firms, announced the news Wednesday, saying its new “blockchain-enabled” EY OpsChain Public Finance Manager will compare government spending programs with the results of the expenditure, even when the money has passed through different layers of government and public service agencies. It’s claimed to track finances in real time and “create a single source of integrated financial and nonfinancial performance information to support decision-making.”

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