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Bitcoin is back to doing Bitcoin (BTC) things and anyone who bought the dip around the $9,350 local bottom is a happy camper. Surely those who employed a little leverage on that entry are even happier.
Before looking forward, let’s take a moment to review the “Keep It Simple Stupid” approach to trading. On Sept. 2, the Moving Average Convergence Divergence (MACD) pulled off a bullish Bitcoin price crossover and the histogram flipped positive on the daily time frame.
To most people, Bitcoin is nothing more than an investment; a speculative asset that will yield good returns provided one hodls, at least till it hits the peak of the bull run. To a few however, Bitcoin represents a symbol that is the very embodiment of libertarianism and fin-freedom from the so-called fiat currency that is controlled by a single entity, the government. To the former, Bitcoin is supposed to act as a hedge against macroeconomic events or perhaps, even as a safe-haven asset.
Bakkt, the long-awaited cryptocurrency platform that will launch physically-settled Bitcoin futures, says it’s open for business. It will now accept Bitcoin deposits. In an announcement via Twitter, the Intercontinental Exchange subsidiary gives the first major signal that the upcoming launch date at the end of September will stick – without further delays.
Crypto trader Josh Rager is a noted bitcoin bull known for his ambitious price targets. He is now predicting that the price of the flagship cryptocurrency could surge 100% in 2020 if a historical pattern repeats itself once more.
A gargantuan transfer of 94,504 Bitcoin (about $1.031 bln), which was detected by Whale Alert earlier today, made a substantial amount of buzz within the cryptocurrency community.
It has been specified that the wallet did not belong to any cryptocurrency exchange. In fact, according to BitInfoCharts data, this is currently the fifth richest Bitcoin address (only trailing behind those wallets that belong to cryptocurrency exchanges).
Bitcoin’s price action towards $11,000 still lacks a catalyst.
Ongoing bearish action is likely to push Bitcoin back in the range between $10,800 and $10,400.
The cryptocurrency market is relatively bullish hours before the weekend session. Bitcoin, in particular, continues to make headway above the simple moving averages; 100 SMA 4-hour and the 50 SMA 4-hour. Moreover, the crypto is extending the bullish action with a gigantic step towards the coveted psychological level at $11,000.
Stablecoins, such as Facebook’s proposed Libra coin, can possible grow, but not without risks, according to JPMorgan analysts.
The analysts, led by Joshua Younger, said that stablecoins, and Libra in particular, have the potential to grow “substantially and ultimately shoulder a significant fraction of global transactional activity,” as Bloomberg reported Thursday.
“BTC” Google Searches Hits An All-Time High But Is It Artificially Inflated To Move Bitcoin Price? [theblockcrypto.com]
It seems as though someone is playing with Google searches to inflate ‘BTC’ interest.
Most people in the crypto ecosystem are already aware of the fact that Bitcon’s prices are closely tied to the public perception. Whenever that is the case, both in the crypto world and the world of stocks, we can be sure that their will be an effort to both sabotage the perception and subverse it. That is the case happening now with Google trends on “BTC” searches.
The trend for “BTC” and Bitcoin has been closely tied up until now. This week, google searches for “BTC” has suddenly eclipsed that of “Bitcoin”. The spike occurred sometime on August 30th and has been steadily oscillating upward since. The search interest for ‘BTC’ has exceeded anything seen in the past five years.
A $1 billion Bitcoin (BTC) transaction became conspicuous because its sender spent far too much on fees. Some are guessing at the origin and destination of the funds with some believing it’s tied with Bakkt.
According to a Bloomberg analysis of prices over 30 days, the negative correlation between the yuan and bitcoin has fallen to a record low in the last seven days.
While previously the Chinese government has sought to keep the value of its national currency above 7 CNY to the dollar, last month the yuan was allowed to slide below that level, dropping to its lowest for 10 years. The move was reportedly in response to U.S. President Donald Trumps threats in early August to impose a 10 percent tariff on Chinese imports.
Friday is turning into the greenest day of the week for most of the crypto market. After successfully holding its gains yesterday, Bitcoin is now continuing its run towards $11,000.
The altcoin landscape is even more interesting, with several strong outliers in a fairly green sea. And then there’s the rogue wave from Augur – up 29.18% in a single day as of writing.
$1 Trillion Bitcoin Doesn’t Need Parabolic Trend
Tech Stock-Style ‘Mega Trend’ Inbound
Published last week, the forecast by Blockchain investment advisory resource, Byte Tree, suggests that even with conservative growth, Bitcoin will achieve wild new heights.
“Growth rates can go on for long periods of time but will inevitably slowdown as they mature. The implications for this new trendline imply $10,000 bitcoin will remain a theme until late 2020, rising to $20,000 by Feb 2022 and $40,000 by May 2023,” it reads.
The cryptoasset, which was launched on Sept. 5, will be called Pax Gold (PAXG) and based upon ethereum’s blockchain as an ERC-20 token. Each PAXG will be backed by the value of a physical bar of gold stored in Brink’s London vault.
While the new coin is being touted as a digital crypto-asset, it also serves as a legal title to owners hoping for a more convenient way to own physical gold. Pax Gold has been officially approved by the New York Department of Financial Services, according to a press release published on Sept. 5.
South Korea’s largest entertainment company has said it intends to launch its own cryptocurrency, with a view to using blockchain as “a decentralized entertainment entity,” Chosun reported.
Pop music firm SM Entertainment is reported to have partnered with CTIA Labs to build the project, which is still in the early stages of development.
The CEO of CTIA Labs confirmed the deal at a developer conference organized by crypto exchange UpBit, where he spoke of the disruptive potential of cryptocurrency and blockchain in the music industry.
코인데스크코리아와 부산광역시는 오는 9월3일 해운대 파크 하얏트 호텔에서 디지털 자산 거래소 박람회 ‘DAXPO2019’를 연다. 각 분야 전문가들을 초청해 다양한 관점에서 디지털 자산 생태계가 맞이한 새로운 국면을 진단할 예정이다.
블록체인 기술과 산업에 전문성을 인정받는 미디어 5사가 공동으로 아시아 최대 규모 블록체인 컨퍼런스 ‘코리아블록체인위크 2019(KBW2019)’를 오는 9월 27일부터 10월 4일까지 개최한다.
9월30일부터 10월1일 양일간 그랜드 인터컨티넨탈 서울 퍄르나스에서 팩트블록의 ‘코리아블록체인위크(KBW) 2019’ 주간(9월27일~10월4일) 중 메인 행사로 열리는 디파인 컨퍼런스에는 국내외 주요 기업들과 블록체인 프로젝트들이 대거 참여할 예정이다.