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.
Data from Coin360 showed BTC/USD trading between $8,700 and $8,800 on Tuesday morning, having fallen to local lows of $8,630 in the past 24 hours.
Despite volatility waning in recent days, Bitcoin remained broadly lower as the week began, losing support at $9,000.
Bitcoin, The support at $9,000 failed and the price now hovers around the area at $8,600. The downward trend is something that a lot of analysts think will continue. The resistance around $8,900 is where the most recent breakout attempt came. It’s also important to consider the level the price could dip to if the 50MA is breached.
Bitcoin once again touched the coveted $10,000 price level, but this only happened one the FTX cryptocurrency derivatives exchange. At press time, the top coin is sitting at $8,744, according to CoinStats data.
Bitcoin’s derivatives market entered the frame back in 2017. However, 2019 saw the most significant growth in terms of institutional interest. With the launch of Bakkt’s Bitcoin Futures, profitability in the market was observed as trading activity scaled new all-time-highs in the market.
Currently, the Bitcoin bears have been able to keep the price below $9,000, however, there has been no continuation which indicates a lack of strength. Bitcoin could very easily bounce from the current level and smash through $10,000. According to a crypto trader and analyst, Bitcoin could reach $50,000 by mid-2020. According to his twitter post, this last move downward could very easily be the last before the takeoff. The short term of Bitcoin is slowly shifting in favor of the bulls as the bears are not getting any sort of continuation.
The popular cryptocurrency analyst said in a tweet today that the ETH/BTC trading pair is looking stronger ever since the quoted asset Bitcoin has started underperforming. Over the course of the same timeframe, Ether has jumped by as much as 14.65 percent against bitcoin, showing a negative correlation between the ETH/BTC and BTC/USD trading instruments. This divergence suggests that Ethereum is stealing attention away from the leading asset right now, which could lead to a significant bull run soon.
Crypto enthusiasts who are looking for a passive way to earn Bitcoin can now join a beta pilot to get up to 3% ‘cashback’ in BTC on every stay and experience booked on Airbnb. The Bitcoin rewards are available through the mobile app Fold. Fold, a San Francisco-based startup, is designed to spur mainstream adoption of Bitcoin by using a cashback strategy. Instead of buying Bitcoin on a crypto exchange, a user of the app can earn free Bitcoin while shopping. Fold supports several big retailers including Target, REI, Amazon, Uber, Starbucks, Burger King, Dunkin’ Donuts and Home Depot. It also supports movie theater chain AMC and Southwest Airlines. The Bitcoin cashback allotted for each retailer varies.
After having received authorization from the New York Department of Financial Services (NYFDS), Bakkt Warehouse will now be able to expand its clientele beyond clients trading the Bakkt Bitcoin Futures contract. As such, Bakkt Warehouse, the enterprise-grade Bitcoin custody offering by Bakkt, is now available to all financial institutions. The institution’s current list of clients consists of prominent names within the crypto space including the likes of Pantera Capital, Galaxy Digital, and Tagomi. The trading platform added that in the coming weeks it will be on-boarding “additional marquee firms” to its custody offering.
All markets – such as Bitcoin – are cyclical and go through stages of peak euphoria before a correction brings investors back down to reality. Eventually, anger and depression kick in, and investors begin to fear the worst before the cycle reaches a low and begins to pick up once again and return to the mean.
The launch date for the Chicago Mercantile Exchange (CME) Group’s bitcoin options has finally been announced: the company will present the new trading product on January 13, 2020, provided the regulators sign off on it. The plan to introduce the options on the CME Group’s bitcoin futures contracts was first unveiled this September, and at the time the company intended to have it in place by Q1 2020. The company’s representatives stated their belief that the new product will be useful to professional traders and institutions, who will be able to better hedge and manage their risks.
China’s proposed new stablecoin project should strike a balance between protecting privacy and regulatory enforcement, China’s Digital Currency Research Institute said Tuesday. Within the People’s Bank of China (PBOC), the Digital Currency Research Institute is part of the central bank’s payments division. Speaking at a conference in Singapore, Changchun Mu said the central bank will not seek full control of users’ personal details, while fulfilling authorities’ need for information, according to a report by Reuters.
The monetarist, who the Time Magazine named among the 25 people that caused the 2008 financial crisis, conveniently blocked efforts to crack down on the abusive subprime mortgage loans, promoted excessive bank consolidation, and pushed financial deregulation. The Financial Crisis Inquiry Commission reiterated the same in their 2011 judgment, stating that Mr. Greenspan’s policies brought on the housing bubble and bust.
It seems Google has secretly gathered impressive volumes of patient records across 21 states on behalf of a health care provider. It is supposed to have been done via a project that is dubbed “Project Nightingale.” According to Wall Street Journal, nobody – both patients and doctors – were aware of this effort.
BitGo is processing more than 20 percent of bitcoin transactions, the company said at CoinDesk’s Invest: NYC conference today. The announcement by the crypto custodian and issuer of hot and cold storage wallets means that a sizable share of on-chain transactions pass through its services, a sign of consolidation, and power, in the crypto space.