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.
Current Market Price @CryptoCompare
New Bitcoin Stock-to-Flow Chart Shows Bearish Periods Precede Halvings [cointelegraph.com]
BTC USD stock-to-flow with deviations. Source: Rob Wolfram (@hamal03) | 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.
Since Bitcoin’s (BTC) creation in 2009, the digital asset has undergone a halving event every four years, cutting the number of coins constantly entering the ecosystem in half, making it a deflationary asset. Based on its hard-coded scarcity, and in line with its halvings, Bitcoin has risen dramatically in price over the years, giving the asset a high stock-to-flow ratio. When graphically depicted with deviation bands, Bitcoin historically has tested band levels below its median prior to halving years.
Bitcoin’s Four-Month Bear Trend Intact Even After 16% Price Rise [coindesk.com]
- Bitcoin remains trapped in a four-month falling channel despite registering double-digit gains last week.
- Prices could pull back to former resistance-turned-support of $8,800 in the next 24 hours. The bearish case would be invalidated above $9,730.
- A weekly close or two consecutive daily closes (UTC) above the falling channel hurdle at $9,730 are needed to confirm a resumption of the bull rally from April lows around $4,000.
According to the prediction, December 15, 2018, was the bottom and BTC price was to be $5,300 and $9,200 by April and July respectively. As of 30 April, the price was $5,321 and 31 July, it was over $9,800. These months were in the middle of the bullish surge which took BTC from $3,000 to almost $14,000 though, a situation that is quite different from the current. However,
CME Bitcoin Futures Price Touch $10,000 to Replicate Weekend’s Move [coingape.com]
BTC/USD 1-hour Chart on Bitstamp (TradingView)
Expert trader and chart analyst, Peter Brandt, noted hours before the CME opened for business, that the “contract was poorly designed and implemented.” He referred to the gap that the contract price would produce as a result of the weekend price move. On CME, the price of Bitcoin is defined by the CME CF Bitcoin Reference Rate (BRR). The reference rate is calculated as an aggregate of price on major spot exchanges within an hour.
S&P 500 Breaks Its All-Time High. Will Bitcoin Follow Suit? [u.today]
The S&P 500 has reached a new all-time high after the opening bell, surging to 3,038 on Monday, CNBC reports. That was possible because of strong corporate earnings and the looming end of the tedious US-China trade war. As reported by U.Today, the US equities reached a new intraday high on Friday, which coincided with Bitcoin's massive 40 percent pump.
3 Reasons Bitcoin Price May Hit $20,000 by Year-End [thebitcoinnews.com]
Days after a depressing flash crash, Bitcoin had a mind-bending rally, snapping up a 42% gain. BTC moved up from $7,500, briefly touching $10,000. Then the leading coin settled around $9,500, but in just a few short days, the market sentiment was repaired. The path seems open for bitcoin to stage an end-of-year rally, with $20,000 shaping up as a realistic price target. This could happen due to several favorable conditions.
In the blog post, Bakkt chief product officer Mike Blandina states, "we’ll be launching a consumer app to make it easy for consumers to discover and unlock the value of digital assets, as well as ways in which they can transact or track them. Merchants gain access to a broader set of customers with expanded spending power."
Bitfinex Claims to be Fraud Victim in CryptoCapital Indictment [cryptovest.com]
“Bitfinex is the victim of a fraud and is making its position clear to the relevant authorities, including those in Poland and the United States. We cannot speak about Crypto Capital's other clients, but any suggestion that Crypto Capital laundered drug proceeds or any other illicit funds at the behest of Bitfinex or its customers is categorically false,” explained Bitfinex.
Bitcoin’s price dictates BTC derivatives market and not vice-versa [ambcrypto.com]
According to a Skew Markets report, BitMEX registered aggregated daily volumes of over $8.5 billion on BTC futures, a figure which was its highest since meeting the same numbers back in July. Binance echoed the same surge in volume, recording over $2 billion trading volume on its platform.
According to a report on Sunday, October 27, Lu Lei, a deputy head of the State Administration of Foreign Exchange (SAFE) said that China was studying the application of blockchain technology and artificial intelligence cross-border financing with particular attention devoted to risk management applications, and would further liberalize its capital markets.
How to Liquidate Your Cryptocurrency Holdings With Manipulating Exchange Prices [cryptomode.com]
As the year 2019 slowly draws to an end, there will be plenty of cryptocurrency investors looking to cash out some profits. Especially when holding large amounts of funds, that can become very problematic. Using an exchange is not the best course of action in this regard. A recent Reddit post confirms there are many ways to achieve this goal, depending on one’s preferences and patience.
BITCOIN SEES TOP 3 WEEK AS ARGENTINA CUTS DOLLAR ALLOWANCE BY 98% [bitcoinist.com]
Chart showing p2p traded bitcoin levels in argentina
As local news outlet Clarín reported on October 27 citing the Central Bank of Argentina (BCRA), the monthly US dollar purchase allowance for savers will dive to just $200. The previous level was $10,000 which came into effect in September – corresponding to a drop of 98%. Argentina voted out its president on Sunday, with the new administration seeking to stem losses in the troubled Argentine peso (ARS). The bank said in a statement,
China Hatching Plans to Launch National Cryptocurrency, DCEP [btcmanager.com]
Despite placing a blanket ban on bitcoin trading and initial coin offerings (ICOs), the world’s most populous nation, China is still interested in creating its own blockchain-based cryptocurrency. In a video released by the People’s Bank of China (PBoC), the apex bank has hinted that it is putting the finishing touches to the blockchain-based Digital Currency Electronic Payment System (DCEP), which it plans to make available to local commercial banks shortly.
Bitcoin Price Cools Down To $9,400 Following Major Rally: Crypto Market Watch [cryptopotato.com]
BTC/USD. Source: TradingView
It’s safe to say that the last few days have been nothing short of turbulent for Bitcoin. After trading in a close range for a few weeks with rather low volatility, the cryptocurrency last week recorded its largest daily price increase since 2011. In a span of about 24 hours, it surged by more than 40%, rising as high as $10,350. Predictably, a correction soon followed. Bitcoin shed about $1,000, as its price fell to around $9,400. Bitcoin’s dominance rate also increased notably. Prior to the latest surge, Bitcoin’s share of the overall crypto market was around 65.5%, and it rose as high as 68.6% before pulling back to 67.9%.
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