Please share if you find this article interesting. Bitcoin Price Backs Off 12 Month Highs, But Bias Remains Bullish View Bitcoin has retraced slightly from the one-year high of $8,940 reached earlier today. Any pullbacks could be short-lived, however, as buying pressure is currently the strongest in over five months, according to a weekly chart indicator. A pennant breakout on the daily chart indicates scope for a rally to $10,000 in the near-term. On the way higher, BTC may encounter resistance at the key Fibonacci level of $9,442. The bullish case would weaken if prices fall back below $8,000 in the next day or two. Bitcoin (BTC) has pulled back from 12-month highs hit earlier today. However, the bulls are still firmly in control, with the price holding well above key support a...
Please share if you find this article interesting. Public Perceptions of the Bitcoin Spot Market Are Wrong, Says Bitwise Today’s bitcoin spot market is “significantly smaller and significantly more efficient” than is generally perceived, argues Bitwise Asset Management. In a white paper presented as comment to the U.S. Securities and Exchange Commission (SEC) on Friday, Bitwise said the quality of the bitcoin spot market and the strength of arbitrage in that market has “improved dramatically” since the start of 2018. The average deviation of bitcoin’s price on the 10 “real” bitcoin exchanges, as measured against the consolidated price, shows a downward trend, indicating increasingly efficient arbitrage between the various exchanges, the firm said. “This comes despite high volatil
Please share if you find this article interesting. Bitcoin Hits New 2019 High Above $8,900 Bitcoin’s price has once again set a new high for 2019 after breaking out from a bullish pattern on the daily chart, reaching as high as $8,905 before retracing slightly. At 19:00 UTC on May 26, the world’s largest cryptocurrency by market capitalization broke from an ascending triangle pattern on the daily chart, courtesy of being held beneath $8,250 for an extended period of time. The move to fresh 2019 highs has come at a time when prices were beginning to creep to the downside, touching as low as $6,600 on May 17 before a large amount of buying pressure pushed prices back above $7,300 within the same day. Since then prices have once again jumped by 22 percent, first rising above $8,500
Please share if you find this article interesting. Crypto Exchange Binance Confirms Margin Trading Coming ‘Soon’: Report Binance has confirmed it will be launching a margin trading service, after the cryptocurrency exchange accidentally tweeted images suggesting the service was in development. First noticed by Twitter users earlier on Friday, Binance posted screenshots of its platform in dark and light modes, asking users which one they preferred. The screenshots contained a dedicated tab titled “Margin,” with a message saying that margin trading carries a “higher potential profit,” but also “greater risks.” Margin trading refers to using borrowed funds from a broker or exchange to trade an asset. Image via Binance (highlight by CoinDesk) TechCrunch reported Friday that Binance
Please share if you find this article interesting. Long-Term Bitcoin Price Indicator Rises for First Time in a Year View Bitcoin has risen back to $8,000 with the widely tracked 200-day moving average beginning to curl upwards in favor of the bulls for the first time since May 2018. A bull flag breakout seen in the hourly chart indicates scope for a rise to $8,400. The breakout is backed by bullish readings on both the hourly and 4-hour charts. A rally to $8,400 may not be sustainable, unless the move is backed by a rise in trading volumes. The daily chart is reporting a bearish divergence of trading volumes. On the downside, $7,205 is the level to beat for sellers. A UTC close below that would confirm a double-top breakdown and shift risk in favor of a slide toward $6,000. Bit
Please share if you find this article interesting. Rep. Eric Swalwell Is Accepting Crypto Donations in Bid for US Presidency Rep. Eric Swalwell is accepting donations in cryptocurrencies to support his bid for the U.S. presidency in 2020. Announced Thursday by blockchain firm The White Company, which is providing the tech for the crypto donations, Swalwell will accept six supported cryptocurrencies – bitcoin, ether, bitcoin cash, stellar, bitcoin SV and The White Company’s native token White standard (WSD) – on a dedicated web page. Speaking generally about the technology, Swalwell said: “Blockchain can change the world, if we let it. So much of our public life now exists online, and there’s no reason to believe we can’t extend this further into our democracy and our economy – f
Please share if you find this article interesting. Price Dip Leaves Bitcoin Exposed to $7.2K Support View Bitcoin suffered a contracting triangle breakdown on Wednesday, as expected. The range breakdown is backed by bearish developments on the daily and 4-hour chart indicators. BTC, therefore, risks falling to $7,206 (May 18 low) in the next day or two. A UTC close below $7,206 would confirm a double-top breakdown and open doors for a drop to $6,070 (target as per the measured move method). The outlook would turn bullish if the price finds acceptance above $8,050 in the next 24 hours. Bitcoin (BTC) dived out of a narrowing price range on Wednesday, opening the doors for a deeper drop to $7,200. The leading cryptocurrency by market value fell below $7,850 in the U.S. trading hours...
Please share if you find this article interesting. Swiss Watchmaker Franck Muller Launches ‘Functional’ Bitcoin Timepiece Swiss luxury watchmaker Franck Muller has launched limited-edition timepiece dubbed “Encrypto” that it’s calling “the world’s first functional bitcoin watch.” Aesthetically, the dial of the watch – launched in partnership with cryptocurrency trading platform Regal Assets – sports bitcoin’s logo and a QR code of bitcoin’s genesis block address. The face also includes a laser-etched QR code for a public wallet address that can be used to deposit bitcoin and check its balance. An included sealed USB stick stores the private key, Regal Assets announced Wednesday. The “deep cold storage” wallet uses “offline generated, non-deterministic TRNGs (True Random Numbers G
Please share if you find this article interesting. Collapsed Cryptopia Founder Wants You to Put Funds on His New Exchange Because there are, apparently, second acts in crypto, the creator of the defunct Cryptopia exchange is trying again with a new exchange product called Assetylene. The exchange, which touts itself as “New Zealands most advanced crypto trading platform,” is run by Adam Clark, the former founder and programmer for Cryptopia. Cryptopia went into liquidation on May 15 after a major hack that drained an estimate $16 million-worth of crypto last year. Most recently the stolen funds are currently moving out of the hacker’s wallets and onto various exchanges. One would assume, then, that the founder of a hacked, shuttered exchange, wouldn’t try again so quickly. One wo
Please share if you find this article interesting. Bitcoin On the Defensive With Price Below $8k View BTC has traded in a narrowing price range over the last 48 hours, aborting the immediate bullish view put forward by Sunday’s double-digit gains. A range breakdown, if confirmed, would allow a price drop toward $7,200. That looks likely with multiple signs of bullish exhaustion on the daily chart. The outlook, however, would again turn bullish if the contracting triangle ends with a bullish breakout. In that case, the price could rise to $8,500. Bitcoin is teasing a downside break of its recent trading range, having again faced rejection above $8,000 earlier today. The cryptocurrency market leader jumped more than 12 percent on Friday, reviving the case for a potential break abov