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Rumors around China’s public commitment to blockchain technology continued to form a major talking point among analysts. As Cointelegraph reported, cryptocurrency policy did not feature in officials’ latest remarks, which nonetheless appeared to fuel Bitcoin’s surge.
On social media, commentators were still eyeing further upside potential.
Overall, Bitcoin looks bullish, forming higher-lows trajectory, as can be seen on the 4-hour chart. Added to the above, Bitcoin is trading above the significant 200-days moving average line (roughly around $9,000). A little short-term bearish thing to keep in mind is the open price gap at $8,900 on the CME Futures’ chart. Another thing is the Death Cross, which recently took place. As been said here before, the Death Cross is usually coming in some delay to the current price pattern. Following the latest price spike, it’s very reasonable that this cross would turn to be a fake-out (like happened in late 2015).
Flipper tells his 39,000 followers on Twitter that he expects coins like NEO, which rallied from about $7.00 on Friday to a high of $12.98 on Saturday, to fall at least 20%.
“All this talk about buying Chinese coins is silly. They are pumping because smarter traders are playing with the emotions of not so smart traders. Next few days, I suspect they will all be down 20%. If you’re scalping or day trading, just enjoy the trend.”
The potential of Bitcoin trading above $10,000 is still high in spite of the lethargic trading going on under $9,400. Bitcoin bulls managed in defending the support at $9,000 which eventually gave way for the ongoing action. The price is in a relatively bullish mood with gains exceeding 2% on the day.
- The three-day chart MACD’s first bullish turn in over three months could bode well for bitcoin’s price, according to historical data. The cryptocurrency may challenge 2019 high above $13,800 before the year’s end.
- The immediate outlook, however, is bearish and prices could drop to $8,800 in the next day or two, with the daily chart reporting buyer exhaustion. Further, China’s state media has asked investors to avoid speculative behavior which could dampen trading.
- A pennant breakout on the hourly chart could yield a re-test of recent highs above $10,000, although that looks unlikely.
Crypto credit has expanded too quickly and is headed for a blow-up, says a group of former Wall Street traders who are now seeking riches in digital assets. A near $5 billion industry has emerged from nothing just two years ago and the number of loan platforms is rapidly proliferating, according to blockchain data company Graychain Ltd.
- Dow Jones Industrial Average (DJIA) futures dipped 54 points ahead of the bell on Tuesday.
- Fund manager Michael Pento claims the stock market’s record highs are a “magnificent bubble” and the pullback will be brutal.
- His comments echo Michael ‘Big Short’ Burry who said index funds have inflated a new market bubble.
Uber Money will first focus on providing services to its fleet of 4 million drivers and couriers across the globe. Peter Hazlehurst, the head of Uber Money said that the drivers will get a mobile bank account to receive instant payments upon completing their drives. Currently, the drivers have to opt for weekly payments or cash out using the Instant Pay feature.
Now the plant for Rusal is unprofitable, the electricity supplied to it is practically not utilized, and people living in the single-industry town near the plant have nowhere to work. Our idea is to redesign the plant and sell its computing power as a service, that is, provide an IT service.
Although bitcoin surged 42% in one day on Oct 26th, analysts expressed their concern over a possible bear trend. However, cryptocurrency futures trading can still be profitable in downward market trends. While Safety, Liquidity & Execution Speed are of top importance, there are other factors that count. BEX500, a rapid-expanding crypto exchange, proves its highlights including “Paper-trading”, “Automatic Coin Swap System” extremely helpful. which can make a difference between loss and profit.
There is a growing wave of cryptocurrency adoption and Bitcoin derivatives provider Bakkt is helping in its own way to help encourage this adoption. On Monday 28 October, it announced the launch of a consumer app that will let users pay merchants using cryptocurrency just like using any fiat currency. In a blog post announcement, Bakkt chief product officer Mike Blandina said the app will also bring discovery of cryptocurrency for consumers as they use it for everyday purchases.
Bitcoin and cryptocurrency traders in China should not get carried away by President Xi Jinping’s open and substantiated endorsement of blockchain technology, the official government mouthpiece advised earlier today.
The quasi-advisory comes against the backdrop of growing Chinese activity in the cryptocurrency space. Interest in blockchain technology, and by extension, in Bitcoin, has increased substantially in the country after the president’s speech outlining blockchain as a vital resource for Chinese’s socio-economic progress.
These words came from Former Republican Congressman and Presidential candidate, Ron Paul, at the Litecoin Summit on 28 October in Las Vegas. Paul, a supporter of the cryptocurrency movement and blockchain tech, had previously stated that “cryptocurrencies are a great idea,” adding that he believes that the only role the government has in this sector is to prevent fraud.
Webroot, the cybersecurity threat analysis company, has just published their list of 2019’s nastiest malware. From ransomware-as-a-service to intricate phishing scams, cryptomining and cryptojacking schemes, the list indicates that there has been a revival of ransomware attacks, and although crypto attacks have fallen, they will not go away as long cryptocurrency remains valuable.