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.
BTC USD daily chart. Source: TradingView | 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.
The general sentiment amongst Bitcoin traders seems relatively unenthusiastic and many traders view Bitcoin’s current price action as an opportunity for accumulation at $7,800 and below. This conclusion is supported by the Crypto Fear and Greed Index (CFGI) which currently shows investor’s fear level as being flat throughout the month of October. If the $7,800 support fails to hold and Bitcoin drops to $7,300 and below, then one would expect the fear index to rise.
Historically, Bitcoin halvings have been great for Bitcoin’s price. Previous years have shown Bitcoin increases in price not only after the halving but also before the scheduled date. As most analysts and bitcoin traders are well aware of the upcoming halvings, they will usually start accumulating Bitcoin long before the Halving.
In the CME futures chart, the Bitcoin price has a gap at $11,700 which has yet to be filled. We do not believe that it is likely to be filled in the short-term. In the long-term, it is possible that the gap acts as the reversal point after the price eventually breaks out from the current wedge.
Cryptocurrency trader and analyst @JacobCanfield stated that there is a gap left unfilled.
Bitcoin’s technicals may not be pretty but global macro factors favor the king of cryptocurrencies. That’s according to trader and game liquidity theorist Majin. The analyst believes that the global U.S dollar squeeze will be highly favorable for the dominant cryptocurrency.
William Thomas, CEO of peer-to-peer exchange Cryptomate, explained to news.Bitcoin.com that many people are calling this deal “‘Brexit in name only’ as it still ties us in with many EU institutions, including future regulatory alignment,” adding that a no-deal Brexit is becoming even more of a possibility.
Bitcoin is a highly volatile asset with a comparatively lower market capitalization than traditional assets. Hence, fundamental growth or adverse news has a greater effect on its price. Moreover, in the current macroeconomic environment, all currencies are facing a downtrend.
Prominent crypto analyst and trader tweeted on Schiff’s analysis, he called his analysis outright “wrong.”
BTC/USD 1-Day Chart on Bitstamp (Support Levels) (TradingView)
However, most importantly, we saw blockchain adoption continue, with Canada, China, and Wales in varied stages of state-backed digital currencies, Ford leading a blockchain vehicle payments system and the technology finally hitting Broadway. And of course, our friends over at Facebook had a busy week.
Looking at the chart, bitcoin price is clearly trading in a bearish zone below the $8,000 pivot level and the $8,200 resistance.
- There was a steady decline in bitcoin price below the $8,200 support against the US Dollar.
- The price is currently trading below $8,000 and it remains at a risk of more losses.
- There is a major bearish trend line forming with resistance near $8,100 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
- The price must climb above $8,100 and $8,200 for bullish continuation in the near term.
A research paper published by the Federal Reserve Bank of San Francisco shows how negative interest rates could become an important policy tool for fighting future economic downturns. The paper examines the market response to the introduction of negative interest rates by five major central banks.
The Telegram Open Network (TON) was scheduled to go live by Oct. 31 (otherwise, Telegram would have to return money to its investors). However, the SEC sued the messaging giant for allegedly running an unregistered ICO, which forced the company to delay the launch of its network to Apr. 30, 2020 while trying to cut a deal with its investors.
It’s also a reliable source for passing information, and this has seen different groups of crypto enthusiasts from developers to entrepreneurs and traders, all open channels where they can pass information to their relevant audience. Below we are going to take a look at some of the most influential channels on Telegram in 2019. Some channels are gleaned from ICO Speaks, the agency that specializes in connecting start-ups with investors.
Multi-player battle gaming can now happen on the Bitcoin Lightning Network, courtesy of Satoshis.Games. The platform, introduced during the latest LN conference, allows players to earn and spend BTC directly, during the gaming process.