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Re: Bitcoin news

#121
ChuChu Rocket wrote:
Mon Oct 29, 2018 1:37 am
ForexinDevon wrote:
Sun Oct 28, 2018 9:03 pm
Anyone else trading BTC/USD this weekend?
You really like your Bitcoin don't you? :D What's the volume like on the weekends?
Yeah I like Bitcoin, plus it is kind of personal against it now haha
Volume is fine on weekends, I trade it on mt4


Re: Bitcoin news

#122
ForexinDevon wrote:
Mon Oct 29, 2018 4:25 pm
Yeah I like Bitcoin, plus it is kind of personal against it now haha
Volume is fine on weekends, I trade it on mt4
Wow. The spreads are extremely high and the pip value against volatility is rather bad. The circumstances are very trader-unfriendly. Respect when you stay green in that trading surroundings.

Re: Bitcoin news

#123
Krelian99 wrote:
Mon Oct 29, 2018 7:19 pm
ForexinDevon wrote:
Mon Oct 29, 2018 4:25 pm
Yeah I like Bitcoin, plus it is kind of personal against it now haha
Volume is fine on weekends, I trade it on mt4
Wow. The spreads are extremely high and the pip value against volatility is rather bad. The circumstances are very trader-unfriendly. Respect when you stay green in that trading surroundings.
Yes it is not easy but large gains can be made! I use JAFX as their spreads are ok, even on BTC>

Janet Yellen owns $20 worth of BTC

#124
Former Fed Chair Janet Yellen Is Now a Bitcoin Owner

Janet_Yellen_owns_bitcoin.jpg

She may not be "fan" of bitcoin," but former Federal Reserve chair Janet Yellen now has a small amount of BTC in her possession.

On Monday, Yellen explained why she believes bitcoin is not a useful form of currency during an appearance at the Canada Fintech Forum. The former chairperson of the U.S. central bank has struck critical tones in the past toward cryptocurrency, but elsewhere had said she views blockchain as an "important technology."

A day later, according to an email obtained by CoinDesk, Raz Suprovici, the founder of bitcoin gifting service Biterica, sent Yellen 0.0031642 BTC – or roughly $20 – by way of her University of California Berkeley e-mail address.

Read more: https://www.coindesk.com/former-fed-cha ... oin-owner/
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Re: Bitcoin news

#125
The Financial Conduct Authority (FCA) considers banning altogether the sale of crypto derivatives such as CFDs on Bitcoin to retail clients, reveals the Cryptoasset Taskforce report published on Monday.

This is a report on the UK’s policy and regulatory approach to crypto assets, drafted by the HM Treasury, the Bank of England and the FCA. Whilst the Taskforce Report recognizes that cryptoassets have the potential to bring benefits to markets, companies and retail investors, there are a number of different considerable risks associated with these financial products.

In order to mitigate these risks, the Taskforce has committed to a number of actions, including consulting on a potential ban of the sale of derivatives referencing certain types of crypto assets (including CFDs, options, futures and transferable securities) to retail consumers.


Re: Bitcoin news

#126
mlawson71 wrote:
Sat Nov 03, 2018 1:03 am
The Financial Conduct Authority (FCA) considers banning altogether the sale of crypto derivatives such as CFDs on Bitcoin to retail clients, reveals the Cryptoasset Taskforce report published on Monday.

This is a report on the UK’s policy and regulatory approach to crypto assets, drafted by the HM Treasury, the Bank of England and the FCA. Whilst the Taskforce Report recognizes that cryptoassets have the potential to bring benefits to markets, companies and retail investors, there are a number of different considerable risks associated with these financial products.

In order to mitigate these risks, the Taskforce has committed to a number of actions, including consulting on a potential ban of the sale of derivatives referencing certain types of crypto assets (including CFDs, options, futures and transferable securities) to retail consumers.
Shit! That's heavy.
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Re: Bitcoin news

#127
I was quite surprised when I read it too. They are just considering it for now, who knows what will come of it.

Breaking: Bitcoin Cash Surges 12%

#128
Bitcoin Cash Surges 12% Prior to Hard Fork as Coinbase Announces Support

BITCOIN_CASH_SURGE.jpg

Over the last 24 hours, Bitcoin Cash (BCH) has increased by around 12 percent from $425 to $477 prior to its hard fork.

On November 2, CCN reported that Bitcoin.com and Binance decided to support the version of Bitcoin Cash set forth by ABC, the original developers of the BCH software that forked the Bitcoin blockchain network last year.

Upon the announcement of Bitcoin.com and Binance, the price of Bitcoin Cash increased from $425 to $460, briefly reaching $470. Since then, the price of BCH has risen from $460 to $477, with strong momentum and volume

The volume of BCH, which remained below $200 million behind ripple (XRP) throughout the past two weeks, has increased to $471 million, nearly doubling the volume of XRP.

bitcoin-cash-price-nov3.png

On November 3, Coinbase released a statement to its investor disclosing its support for the original roadmap of Bitcoin Cash from bitcoincash.org. Throughout the next two weeks, Coinbase, the largest crypto-to-fiat exchange in the global market, stated that it would take appropriate steps to evaluate the network and support BCH.

“Twice a year, the Bitcoin Cash (BCH) network hard forks as part of scheduled protocol upgrades. The next BCH hard fork is scheduled for Nov 15, 2018, and Coinbase is prepared to support the published roadmap from bitcoincash.org. However, unlike previous BCH hard forks, there is a competing proposal that is not compatible with this published roadmap.”

Historically, major cryptocurrencies like BTC and Ethereum have tended to surge in value prior to the release of a fork as investors of the original chain are rewarded with the newly created cryptocurrency based on a 1:1 ratio.

For instance, in August 2017, when BCH officially hard-forked the Bitcoin network, investors in BTC were rewarded with BCH with the equivalent amount they had in BTC.

The rise in the price of BCH over the last 24 hours is mainly attributable to two factors: increasing support towards the published roadmap of Bitcoin Cash and the expected distribution of the new Bitcoin Cash fork to the existing investors of BCH.

Volume is Still Concerning
According to cryptocurrency technical analyst Eric Thies, in previous major corrections, the cryptocurrency market had not shown such a low level of volatility until the accumulation phase.

Throughout the past two months, mostly due to low volume in the market, major cryptocurrencies remained relatively stable in a low price range.

“1 week Historical Volatility levels (per CMC) did not reach this low in 2014 bear market until mid-way into accumulation phase. Surprisingly, volatility didn’t bottom out until price was already +155% from the trend low,” Thies said.

While the three-month stability in the price of BTC could lead to a strong short-term rally by the year’s end, the low volume of major digital assets could make it more challenging for the market to initiate an upward movement.

Source: https://www.ccn.com/bitcoin-cash-surges ... s-support/
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RSI On Bitcoin hits 4-year low

#130
Bitcoin Price Sell-Off Slows As RSI Hits Four-Year Low

Bitcoin is looking oversold after a drop to 13-month lows Wednesday and could defend immediate support at $5,000 in the next few days.

The world’s top cryptocurrency by market value fell to $5,324 (price via Bitstamp) in a matter of hours yesterday, reaching its lowest level since Oct. 18. The average price across major exchanges, as calculated by CoinDesk’s Bitcoin Price Index fell 10 percent – the biggest single-day drop since March 30.

While BTC had supposedly carved out a long-term bottom around $6,000, the convincing break below that level indicates a resumption of the sell-off from the record high of $20,000 reached last December.

As a result, a deeper drop looks likely, albeit after a minor bout of range-bound trading, as the 14-day relative strength index (RSI) is signaling bearish exhaustion.

Notably, the widely followed technical indicator is currently seen at 18, its lowest since September 2014. As the area below 30.00 represents oversold conditions, the bears may now take a breather before hitting the market with fresh offers.

As of writing, BTC is changing hands at $5,400 on Bitstamp, having clocked a high of $5,641 earlier today.

Daily chart
download-11-2.png
BTC closed at $5,595 yesterday, confirming a downside break of a nine-month-long descending triangle.

Meanwhile, the 5- and 10-day exponential moving averages (EMAs) have adopted a bearish bias, while the stacking order of the 50-day EMA, below the 100-day EMA, below the 200-day EMA, indicates that the path of least resistance is to the downside.


Monthly chart
download-12.png
Over on the monthly chart, BTC is trading below the support of the trendline connecting the November 2011 and August 2016 lows, validating the bearish view put forward by the bearish crossover between the 5- and 10-month EMAs in September.

The RSI is now threatening to turn bearish below 50.00 for the first time since September 2015.

To sum up, the odds are stacked in favor of a drop below the psychological support of $5,000, although the oversold daily RSI indicates that may not happen immediately.

View
  • BTC is looking south, although oversold conditions may help it hold above the psychological support of $5,000 in the next few days.
  • The probability of a stronger corrective rally in the near-term is quite low as a significant majority of investors, who had called a bottom around $6,000, may have turned bearish after yesterday’s price drop.
  • The bearish pressure would weaken if prices close above the June low of $5,780.
  • The bearish view would be neutralized if the former-support-turned resistance of $6,000 is scaled.

Source: https://www.coindesk.com/bitcoin-price- ... 4-year-low
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