Published on December 3rd, 2019 by
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Massive Bitcoin Volatility Expected After 4 Consecutive Daily Doji Candles
Bitcoin price has been more volatile than ever, following an early 2020 rally to above $10,000, followed by a record-breaking historic plunge to below $4,000 just days later. The price action in between has been nearly as explosive, however, over the last four days, the daily has closed with four consecutive daily doji candles, indicating that there’s a great deal of indecision in the crypto market currently, which will all end soon with a massive break in volatility. Four Consecutive Daily Doji on Bitcoin Price Paint Picture of Indecision The leading cryptocurrency by market cap has had a rollercoaster ride thus far in 2020. The asset valiantly recovered above $10,000 earlier this year, only to be rejected by peak coronavirus panic on Black Thursday this past March, resulting in a catastrophic 50% drop in Bitcoin. Bitcoin price has already nearly doubled in value from the extreme low at $3,800. However, a rejection above $7,000 sent the cryptocurrency tumbling back down toward lows. Thus far, support has held, and bulls have managed to prevent a retest of last month’s bottom. Related…
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European Central Bank assembles digital currency task force |
President of the European Central Bank (ECB) Christine Lagarde has announced that the ECB has assembled a task force to look into and analyze the feasibility and potential outcome of establishing a Central Bank Digital Currency (CBDC). Lagarde explained that this was aimed at ensuring the European Central Bank plays an active role in fostering cheap and speedy payment transactions, likewise exploring the benefits of having a CBDC. With this development, Europe would join the rest of the world in their pursuit of having a central CBDC. Currently, China, Bahamas, alongside some other countries, are championing the cause of launching their own CBDC with China making progress already. Ahead of Europe, China has begun implementing laws on cryptographic password. This is to enable the development of the cryptography business and ensuring the security of cyberspace and information. Digital currency, central banks’ hot topic The issue of CBDC to be tapped by central banks has been a hot topic. Lagarde speaking on the prospect of the European Central Bank creating one said a special task force had been assembled. The goal…
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Crypto derivatives exchange Deribit says adieu Europe, hello Panama |
Crypto derivatives exchange Deribit will soon relocate its offices from the 5AMLD-regulated Europe and to a crypto-friendly region Panama on 10th February 2020, according to its official announcement made yesterday. The recently-passed Fifth Money Laundering Directive (5AMLD) has only been around for a while but has already claimed many victims with its stringent and hostile approach against cryptocurrencies. The renewed amendments regulation of digital assets places enhanced due diligence on a company’s’ part and ensures that all transactions and accounts are meticulously verified to prevent virtual currencies from being used as a means to fund terrorist activities and other illegal operations. Yes, the EU regulations aren’t making it easy for the crypto industry to thrive in an already slackening economy. On Thursday, the Amsterdam-based crypto derivatives exchange and Bitcoin trading platform, Deribit, that lets users around the world take advantage of its futures and options trading services, became one of the many crypto companies, including Simplecoin and Chopcoin, to declare its shut down in Europe, owing to regulatory pressures. For crypto derivatives exchange Deribit – it isn’t “the end” yet…
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Lawmakers Finally Took Data Privacy Seriously — 2019 Regulatory Roundup
Data privacy has long been seen as one of the major non-monetary usages of blockchain technology. Many governments and corporations are already running recordkeeping systems based on distributed ledgers to securely store internal data. Tech enthusiasts believe that blockchain has the potential to revolutionize personal data and identity management for private citizens as well, yet these hopes remain largely aspirational so far. One of the reasons for that is regulatory uncertainty: Lawmakers around the globe are having a hard time catching up with data security challenges that the sprawling online economy poses. In 2019, the regulators accelerated their efforts to reinforce and standardize data security policies amid the growing realization of the economic value of data in several key jurisdictions. The field of privacy-enhancing technology continued to bear new solutions that will shape the industry as the new decade kicks off. GDPR effect Virtually all observers agree that the European Union’s General Data Protection Regulation coming into effect has been a major influence on the global privacy landscape this past year. Although the process formally began in 2018, it was…
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Ethereum Hesitates But Further Gains Seem Likely Towards $200
Ethereum is trading nicely above the $175 support area against the US Dollar. ETH price is showing a lot of positive signs and it could continue to rise towards $188 and $195. Ethereum corrected lower and tested the main $175 support area. The price is currently rising and trading above the $180 pivot level. There is a major bullish trend line forming with support near $178 on the hourly chart of ETH/USD (data feed via SimpleFX). The pair is likely to accelerate higher once it clears the $185 and $188 resistance levels. Ethereum Price Could Resume Uptrend In the past few days, we saw a sharp rise in Ethereum above the $165 and $175 resistance levels against the US Dollar. ETH price even surpassed the $180 resistance and settled well above the 100 hourly simple moving average. It traded to a new monthly high near $188 before starting a downside correction (similar to bitcoin). There was a correction below the $180 level, but the bulls were able to defend the key $175 support area. It seems like there is a…
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Bitcoin (BTC), Litecoin (LTC), Ethereum Classic (ETC) Rallies May be Traps |
Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Traders could be in for a rude shock if technical candlestick arrangement visible in Bitcoin, Litecoin, Ethereum, and Ethereum Classic charts is leading. Despite posting double-digit gains in the last couple of weeks and resuming their uptrend, there are hints that accompanying trading volumes are low and fizzling out even as prices print a series of higher highs. BTC, ETC, BCH, ETH Post Superior Gains Presently, Bitcoin is the most watched and the most valuable coin by market cap has soared past $9,000 much to the excitement of the masses. For comparison, BTC is up 4% in 24 hours and 22% in the past trading month. Similarly, LTC and ETH traders are upbeat at the back of improving sentiment. Meanwhile, ETC has roared back to life and after the initial take off to the top 10, price action has cooled off and but the coin is nonetheless lodged at 12th in terms of market capitalization. However, what is visible and most talked about is ETC’s 130% rally in the past…
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Ethereum (ETH) Price Weekly Forecast: Crucial Support At Risk
ETH price is facing a strong resistance near the $184 and $185 levels against the US Dollar. The price is trading above the key $178 support, which remains at a risk. There is a crucial bearish trend line forming with resistance near $186 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is currently declining and it might struggle to clear the $178 and $176 support levels. Ethereum price is showing bearish signs below $185 against the US Dollar, similar to bitcoin. ETH price remains at a risk of a downside break below the $176 support area. Ethereum Price Weekly Analysis This past week, Ethereum retested the key $190 resistance area against the US Dollar. However, ETH price failed to continue higher, resulting in a fresh decline below the $188 support area. Moreover, there was a break below the key $186 support area. Finally, there was a close below the $184 support and the 100 simple moving average (4-hours). The bears gained pace below the $180 level and a low was formed near the $177 level. It…
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Ethereum & Bitcoin Takes Hit, What Does This Mean For This Bulls?
Ethereum is down 5% again today and it broke the $130 support area against the US Dollar. The price is now trading near key support levels such as $120 and $122. There is a short term bearish trend line forming with resistance near $126 on the hourly chart of ETH/USD (data feed via Kraken). The price could start a decent recovery towards $130 or even $135 as long as it is above $120. Similarly, bitcoin dived more than 4% and tested the $6,600-$6,500 support area. Ethereum price is trading near major supports after a strong decline versus the US Dollar, similar to bitcoin. ETH price must stay above $120 to start a solid recovery. Ethereum Price Analysis There were additional losses witness in Ethereum below the $130 support area against the US Dollar. It seems like all bearish targets as discussed in the weekly forecast for ETH price were achieved such as $132 and $125. Moreover, the price gained bearish momentum below the $125 support and settled well below the 100 hourly simple moving average. It opened the doors for…
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Independent Researcher Reveals the Best Day to Buy Weekly Bottoms in Bitcoin [BTC] |
Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte There are many factors that affect the price of Bitcoin alone and on particular days. Like the CME gap, which occurs due to the weekend price action in BTC price has been a characteristic feature of the asset. Similarly, there are analogies with days of the week in relation to price action. As reported on CoinGape earlier, Mondays and Saturdays are the best days to engage in Bitcoin trading. This independent research by Joel attempts to find the direction to flow to make an informed trade. Re-tweeting this independent research, SalsaTekila, a popular crypto trader noted, If you know how math works, you know Friday is the most profitable day to go knife-catching a weekly bottom wick into support. Quick Buy Backs by Bulls – Whipsaw! During last year, Bitcoin witnessed a long periods of bearish downfalls in a structured descending channel. Moreover, what has kept the bulls interested is the quick reversal from bottoms. In the last three times when Bitcoin dropped to swing lows, the falling knife soon turned…
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Talks about why company withdrawed from Libra |
In an interview with Fortune, PayPal CEO disclosed that he owns Bitcoin and also talked about why the firm left the Libra project. PayPal CEO owns Bitcoin: Shares his opinion about crypto assets PayPal CEO Dan Schulman revealed that he owns Bitcoin in the interview with Fortune. He also discussed the Libra project and why PayPal decided to pull out from it. He discussed his opinions about digital assets and disclosed details regarding the work his company is doing in the field. He noted that blockchain technology possessed huge potential. However, he stated that non-blockchain systems are already very efficient. The greater benefits provided by blockchain technology revolve around identity. He revealed that there was little demand for crypto assets by vendors that used PayPal services. Regardless, he still thought that “crypto is an interesting idea.” He noted that crypto was more similar to a commodity than a currency. However, he highlighted that people can still find numerous use-cases for it across different regions. The reason behind PayPal leaving Libra Facebook’s Libra stablecoin project shook the financial world with its…
