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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.
After the initial knee-jerk reaction, the markets digested the news and realized that it was not materially negative. This resulted in a pullback, which forced the aggressive bears who had gone short to cover their positions in a hurry. This propelled the total market cap to just over $262 billion on Oct. 26, a rise of about 30% within three days.
It is important to note that Bitcoin is still trading down from its recent highs of $10,600 that were set at the peak of the recent rally, and its retrace from these highs led some investors and analysts to believe that the rally was driven by overextended bulls and would be fleeting.
In spite of this, the cryptocurrency has been able to extend its upwards momentum over the past few hours, as it is fast approaching the key $10,000 price level.
Alessio is one of those few folks who sees the bitcoin and cryptocurrency market from a very radical perspective. All his price activity inferences are based on pointers which the majority of traders and analysts usually miss. In the video prior to the gargantuan pump, Mr. Rastani stressed the importance of 200 SMA (Simple Moving Average) on the BTC price chart which ‘excludes’ weekend data. This latest bitcoin price rally has put the top crypto asset in Rastani’s widely discussed bullish ‘wildcard‘ zone. The bounce off the 200 SMA has resulted in a trigger that holds a 65-70 percent probability of charting out BTC’s next course of action.
Stable currencies are all the rage as of late. Given the price volatility of many mainstream cryptocurrencies such as bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and bitcoin cash (BCH), some are looking for new ways to ensure their safety while also investing in digital currencies, and now it looks like stable currencies are about to get a big regulatory boost.
Bitcoin recorded one of the most massive comebacks as the cryptocurrency bounced from trading in the $7000 mark straight to $9000 mark within a few hours. This rally not only led to the entire market glimmering in green but also seems to have contributed to a significant boost of the Bitcoin futures market, with Binance and Bakkt recording new all-time highs in terms of volume.
When it comes to the world of crypto, the only true certainty is uncertainty. When all it takes is twelve months for an asset to shed 80% of its market share, it’s a fool’s game to be making specific predictions pertaining to cryptocurrency prices in the future.
What we can be certain of, however, is that by 2025 there will be an abundance of technology that will allow cryptocurrencies to thrive. From intricate blockchain networks that can leverage instant transactions to the reimagining of micropayment portals for services online - there’s plenty of reason to embrace the volatility and be excited for cryptocurrencies in 2025.
Xi’s announcement regarding blockchain has had a significant impact in other areas as well. It’s still hard to say if that was the only reason for the substantial price surge, but it’s safe to assume that it played a role.
CryptoPotato reported earlier today on increased interest in blockchain and Bitcoin among the Chinese public. The China-based multi-purpose app WeChat showed a 1,200% increase for blockchain-related searches on the 25th of October. Also, a new cryptocurrency law is set to become active in the country starting next year. Interestingly, the CEO of US-based Facebook last week urged his own country to invest more in blockchain, lest it fall behind other countries such as China.
It now appears almost certain Britain is headed to the polls on the 9th or 12th of December after the two smaller opposition parties have stated they are to introduce a Bill to amend the Fixed Term Parliament Act and hold a General Election on Monday 9th of December.
“We are ready to take our pro-European message to the country and have a General Election,” Libdem leader Jo Swinson said with the party running on a platform to revoke article 50.
Source: WeChat, The Block
The word "blockchain" was search 72,049 times on Baidu on Friday, a 1382.79% surge compared to the day before. The same word also saw a 329% growth on WeChat and was searched for 3,331,874 times. The positive momentum continued into the weekend, with the search volumes for "blockchain" increased by around 170% on both WeChat and Baidu on Saturday.
The vocal, zealous supporter and researcher at Ethereum Foundation, Vlad Zamfir is drawing a line. Taking to Twitter on Oct 23, the developer made it clear that he will not work with individuals or companies that are associated with Facebook’s Libra and those who support the Open Libra project.
Crypto Capital principal Oz Yosef was indicted on three criminal counts by the U.S. Attorney’s Office of the Southern District of New York Wednesday, Oct. 23, confirming statements made by Bitfinex’s general counsel Stuart Hoegner Friday.
According to court documents, Yosef, aka Oz Joseph, has been indicted on conspiracy to commit bank fraud, bank fraud and conspiracy to operate an unlicensed money transmitting business.
Source: Crypto Michaël/Twitter
A pair of crypto analysts are feeling bullish on two of the leading cryptocurrencies. Crypto Michaël tells his 43,000 followers on Twitter that several key Bitcoin metrics are looking solid after Friday’s big rally. Michaël says BTC’s current price action is comparable to 2016 and his new target for the leading cryptocurrency is $17,000 to $20,000.
Top 10 crypto prices on Sunday, October 27, 2019.
Digital currency markets are coasting along after an enormous move on Friday of more than 20-40%. The entire cryptoconomy is hovering around $249 billion as it gained a whopping $30 billion very quickly this week. Crypto prices corrected a touch since the spike, but are still well above the lows seen just a few days ago.
Malta-based cryptocurrency exchange OKEx has joined Klaytn, the blockchain platform consortium backed by South Korean messaging app owner Kakao Corporation. As an ecosystem partner, OKEx will be able to access and work with blockchain networks of the other sixteen Klaytn partners.