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.
Bitcoin CME Futures 4-hour chart. Source: TradingView
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.
Bitcoin price (BTC) closed out October at $9,150, which represents the first monthly gain since June. October also brought new lows of $7,300, which was met with a memorable swing of around 40% back up to highs of $10,350. So far, Friday has brought a small gain to Bitcoin price of around 0.39%, but down over the previous 24 hours by 1.61% with the retrace also being seen among the other major coins.
It’s perhaps safe to say that BitMEX has seen better days in terms of media attention. Earlier today, it was reported that the most popular Bitcoin margin trading exchange went through an email privacy issue which revealed the emails of a lot of users on the platform. A few hours, it appeared that the official BitMEX account was compromised, saying that all withdrawals will be suspended from tomorrow. Quickly enough, BitMEX responded that all funds are safe, which was also confirmed because withdrawals work just fine.
Earlier this month, NewsBTC reported that the market capitalization of all crypto assets, Bitcoin included, printed what is known as a death cross in the land of technical analysis. The ominous-sounding title is given to when a short-term moving average of any asset – the 50-day MA for example – crosses under a long-term moving average such as the 200-day MA. It signifies that bears are in control.
Bitcoin has been fluctuating above the $9,000 price level after the sudden rush above the $10,000 price level. The support level is holding above the $9,000 price level, if the prices bounce at the support, the market will retest the $10,000 supply zone. Likewise, if there is a breakout at the $10,000 price level, Bitcoin will resume the uptrend movement. Nonetheless, if the bears break the $9,000 support level, the selling pressure will resume. The market may drop to the previous low of $7,400 support level. Traders are to abstain from trading as Bitcoin continues to fluctuate without direction.
In the last few months, Bitcoin futures trading is on the rise, beating up to 50% of the total spot market on 13 well-known exchanges. The futures market helps to keep the price less volatile, and it increases liquidity via the attraction of new investors. Wise actors always made predictions that cryptocurrencies would co-exist with the current banking and stock markets. They are not doing any substantial harm to banks and classic exchanges. Instead, cryptocurrencies add fungibility and privacy when it’s urgently needed. The tough riddle is how to make the traditional markets, and crypto markets make profits together and establish transparent accounting?
Binance’s CEO has been one of the most influential voices in crypto, though not without critics and detractors. But CZ remains bullish on his Twitter channel, recently making a prediction for BTC to drive to a high not seen in more than 18 months.
The announcement triggered Bitcoin to surge by more than 40% in less than 24 hours. A correction pulled back prices below $9,500 and has since found it difficult to break above this. While this continues to be the primary target, it is more likely Bitcoin sees a further pullback before breaking above. The next two key resistances for Bitcoin are $9,500 and $10,000.
There have been reports that cryptocurrency exchanges in China will soon be legal and regulated. A leak of one of the issued licenses circulated online today. Chinese blockchain enthusiast Crypto Even (@Crypto_Even) released a screenshot of a Chinese state license for a cryptocurrency trading service. It is the first time we have seen such a document coming from China which may indicate that the government will soon be licensing exchanges.
It is easy to see why speculation on the price of cryptocurrency assets has become such a big thing. The prices of these assets are volatile oscillating wildly in very short periods of time. For long term investors, this is not so much a good thing but it is especially good if you’re a trader. To be a good trader it is mandatory to understand why the price of bitcoin moves and what determines the direction in which it moves, which can help us choose a good trading strategy. In this article we will look at exactly that.
Bullish jobs data launched the Dow toward a triple-digit recovery. | Source: Yahoo Finance
- The Dow, S&P 500, and Nasdaq all rebounded on Friday, ending the week on a high note and starting off the new month with a bang.
- A surprisingly strong jobs report emboldened stock market bulls, as the economy beat estimates despite pressure from the GM strike.
- The enthusiastic response to the jobs report distracted from other worrisome economic data releases.
Is Libra A Good Horse With The Wrong Jockey Or Just A Plain Old Bad Idea? [cryptobriefing.com]
Courtesy Statista, Trust in tech companies compared
At the recent World Blockchain Forum in New York, one of the speakers asked who in the audience thought Libra was likely to succeed in taking cryptocurrencies mainstream. About half the room raised their hands. He then followed with “who wants it to be Facebook that achieves this?” All hands were hastily lowered.
Telegram, the messaging app company turned blockchain startup, has released an early desktop wallet for its “gram” token. Now users can download the test app for MacOS, Windows and Linux 64 bit on Telegram’s official website and get their keys on the TON testnet. The wallet asks users to save 24 seed words and create a password for payments, after which the wallet is ready to receive and send grams. “Now you have a wallet only you control – directly, without middlemen or bankers,” the app says to new users.
Source- JM3 Capital
The global outlook on cryptocurrency is fast-changing and subsequently giving rise to a large number of crypto custody solutions. The services are aimed at institutional investors and firms who seek to secure their crypto assets. Interestingly, the European sub-continent has established a firm ground when it comes to providing crypto-custody solutions.
If you are a crypto enthusiast looking to learn more about this industry, or you’re interested in networking to further your blockchain business, here are some of the top cryptocurrency events that you can attend in November 2019.