Bitcoin Price Breaks $6,000 at New All-Time High

XOM dropped from the DOw

For Trading August 25th
XOM, PFE, & RTX DROPPED FROM DJIA
More New Highs for NAZ & S&P-500
TSLA TOPS $2,100!!
Today’s market was higher from the start and leveled off around +240 -250 until the last 45 minutes when it powered higher into the close finishing +378.13 (1.35%), NASDAQ +67.92 (.60%), S&P 500 34.12 (1%), The Russell +15.90 (1.03%), and the big winner the DJ Transports +208.17 (1.9%). Internals were positive at 2.5:1 NYSE and 1.4:1 on the NAZ with NYSE volume 5:1 UP ! The DJIA was 5:1 higher and this will be the last time that AAPL will affect the average at the rates of the past since it is price-weighted and AAPL will no be a $100 stock, not $500. The only big loser today was UNH falling $36 DP’s and the gainers BA +74, AAPL +41, and GS +33 DP’s.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 3000 members. I also did this video over the weekend on a day-trade, (actually 2) that I made in AAPL on Friday. I think it’s highly informative as a guide to under what conditions these kind of trades in expiring options make sense. The link is https://youtu.be/qIV0G-hP3aM Enjoy!!
Tonight’s closing comment video: https://youtu.be/eMCD4wjOVh4
SECTORS: While it isn’t necessarily my focus, it’s difficult to not key in on TESLA breaking $2,100 today, trading $2129 and then selling off to $1927 before turning back up to close $2014 -35.78 (1.75%). A week ago, someone in the Discord room asked what I thought, and I gave them an opinion that once we closed over $1,643 that we were headed directly to $2,000-2,100 on a straight shot. I really had a high degree of certainty but thought it would take more than 7 trading days to get to that range! The “possible” vaccine news this morning lit a fire under the airlines; AAL +1.28 (10.5%), DAL +2.53 (9.28%), LUV +2.22 (6.4%), and UAL +3.28 (9.9%). Next were the cruise lines with CCL +1.49 (10%), RCL +2.90 (4.7%), and NCHL +1.18 (7.6%). Personally, I don’t see these names holding up with DAL announcing that unless they get further financial assistance that they will have to fire an additional 1941 pilots. These guys just want us to foot the bill for their disgraceful actions when they could have been preparing for a downturn rather than just lined their own pockets and bought back stock. PaloAlto Networks beat both top and bottom lines but gave soft guidance on next quarters revenues and after closing $267.07 -2.26 it fell further to $254.68 -12.77 (4.7%). The big news on the DJIA is that Dow Jones is making 3 major changes. I could be wrong, but I don’t think I’ve ever seen more than one at a time, but here are the names: Salesforce (CRM) replaces XOM, Amgen (AMGN) replaces Pfizer (PFE), and Honeywell (HON) replaces Raytheon (RTX) which also includes UTX.
FOOD SUPPLY CHAIN was HIGHER with TSN +.67, BGS +.44, FLO +.23, CPB +.15, CAG +.44, MDLZ +.51, KHC +.67, CALM -.63, JJSF +3.45, SAFM +.01, HRL -.05, SJM +1.15, PPC +.38, KR +.15, and PBJ $34.31 +.15 (.44%).
BIOPHARMA was LOWER with BIIB -.51, ABBV -.26, REGN -10.72, ISRG +2.05, GILD -.48, MYL +.34, TEVA -.14, VRTX -3.78, BHC +.61, INCY -.07, ICPT -.71, LABU -3.91, AND IBB $131.60 -1.00 (.75%).
CANNABIS: was HIGHER with TLRY +.10, CGC +.33, CRON +.18, GWPH -3.04, NBEV -.10, CURLF +.47, KERN unch., and MJ $12.40 unch.
DEFENSE: was HIGHER with LMT +5.43, GD +3.29, TXT +1.69, NOC +6.14, BWXT +1.51, TDY +6.52, RTX -.22, and ITA $169.39 +5.27 (3.21%).
RETAIL: was HIGHER with M +.36, JWN +1.15, KSS +1.54, DDS +2.13, WMT -.31, TGT -.56, TJX +1.32, RL +3.37, UAA +.51, LULU +7.56, TPR +.81, CPRI +1.36, and XRT $52.88 +.92 (1.77%).
FAANG and Big Cap: were HIGHER with GOOGL +10.13, AMZN +22.78, AAPL +8.62, FB +4.69, NFLX -3.51, NVDA +1.91, TSLA -49.96, BABA +11.20, BIDU +.74, CMG -9.84, BA +11.00, CAT +3.45, DIS +3.26, and XLK $118.96 +1.02 (.86%). PLEASE BE AWARE THAT THESE PRICES ARE LATE MARKET QUOTES AND DO NOT REPRESENT THE 4:00 CLOSES.
FINANCIALS were HIGHER with GS +5.22, JPM +2.93, BAC +.76, MS +1.31, C +1.84, PNC +3.51, AIG +1.25, TRV +3.07, AXP +3.83, V +2.47, and XLF $24.89 +.58 (2.39%).
OIL, $42.62 +.28. Oil was higher in today’s trading before we rose further in the afternoon closing up at the top end of the day’s range. The stocks were HIGHER across the board with XLE $37.02 +.99 (2.75%).
GOLD $1,939.20 -7.80, rose early in the session trading up thru the double tops at $1,963.10 to $1,970 before selling off and finishing near the lows. I am still a bull on the metal, and we have a September bull call spread on using NEM 65/70 calls with a cost of $1.45, which closed today @ $1.66.
BITCOIN: closed $11,770 +75. After breaking out over $10,000 we have had a “running correction” pushing prices toward $12,000, reaching a recovery high of $12220 Thursday, and after a day of rest in between, we resumed the rally touching $12,635. We had 750 shares of GBTC and sold off 250 last week at $13.93 and still have 500 with a cost of $8.45. GBTC closed $13.72 + .14 today.
Tomorrow is another day.
CAM
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morning joe

Microsoft is committed to trying to buy TikTok's U.S. operations, after CEO Satya Nadella discussed a potential deal during a phone call on Sunday with President Trump. Microsoft (NASDAQ:MSFT) said in a blog post that it will move quickly to pursue discussions with TikTok parent ByteDance (BDNCE), aiming to complete negotiations by Sept. 15. "Microsoft fully appreciates the importance of addressing the President’s concerns," the company said. "It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury." The company's aim is to build on TikTok's popular user experience with adding privacy and security protections. The proposed transaction has gained the blessing of top Trump administration officials, including Treasury Secretary Mnuchin, as well as several Republican lawmakers, after the president's Friday night comments that he preferred a TikTok ban in the U.S. instead of a sale took all sides by surprise.
All eyes on U.S. payroll data
The U.S. July employment report, to be released this Friday, will have a binary flavor to it. If the jobs situation is consistent with economists' views, it should give investors more confidence in the economy's health while weak data will weigh on investors' near-term enthusiasm. Current consensus is a rise of 1.65M jobs, albeit a bearish drop of ~27% from last Thursday's projection of 2.25M. Congress is trying to cobble together another stimulus package but, unsurprisingly, Republicans and Democrats are at loggerheads over the specifics.
MLB draws strong TV ratings in opening week
Despite concerns over a truncated 60-game season and empty seats in stadiums, Major League Baseball's opening week has been a resounding success. Games aired nationally during opening weekend (July 23-26) drew more than twice as many viewers as a year ago. Walt Disney's (NYSE:DIS) ESPN said that its first 12 broadcasted games averaged ~1.2M viewers, up 34% compared to last year. Fox Sports (NASDAQ:FOX) also enjoyed a double-digit rise in ratings. According to Michael Mulvihill, Fox Sports head of strategy and analytics, the strong start reflects pent-up demand and little competition from other major U.S. sports. The season, though, is facing its first stern test after 18 members of the Miami Marlins tested positive for COVID-19 leading to the cancellations of certain games by several clubs. 17 games have been postponed to date.
Fed to "relax" approach to managing inflation target
The Fed is preparing to abandon its long-held practice of raising interest rates to preempt overheating in the economy, citing persistently low U.S. inflation. Chairman Jerome Powell hinted at the shift in a news conference last week when he disclosed that the central bank would soon complete a comprehensive review of its policy-making strategy. The change is unlikely to alter much since interest rates are barely above zero and are expected to remain low for the foreseeable future. Longer term, central bankers, economists and investors expect rates to return to a more normal 4% or so once the economic recovery/expansion has matured.
Trump readies action against Chinese software firms
During an interview yesterday on Fox News' Sunday Morning Futures, Secretary of State Mike Pompeo said that President Trump will announce new action this week against Chinese software companies that he perceives are threats to national security, including TikTok and WeChat that, he says, are "feeding data directly to the Chinese Communist Party." In a separate interview, Treasury Secretary Steve Mnuchin declared that "we are not keeping TikTok in its current form." The expected actions will be the latest salvo in the deterioration in U.S./Sino relations.
Apple sued in China over voice assistant patent
Shanghai Zhizhen Network Technology Company, known as Xiao-i, has filed a lawsuit in a Shanghai court against Apple (NASDAQ:AAPL) claiming infringement on a patent covering a voice assistant similar to Siri. The company seeks 10B yuan ($1.43B) in damages and, if successful, could prevent the tech giant from selling many of its products in China. In late June, China's Supreme Court ruled that Xiao-i owns the patent which ended a process that involved several trials since 2012. It is the third time in less than a decade that Apple has faced trademark and patent challenges in its #2 market (behind the U.S.). The company has yet to comment on the matter.
U.S. COVID-19 pandemic in new "widespread" phase
According to White House coronavirus task force coordinator Dr. Deborah Birx, the pandemic is in a "new phase" that is different from the March/April period with "extraordinarily widespread" cases in both urban and rural areas. Reemphasizing the essential role of wearing masks and distancing, Dr. Birx said, "To everybody who lives in a rural area, you are not immune or protected from this virus and that is why we keep saying, no matter where you live in America, you need to wear a mask and socially distance, do the personal hygiene pieces." She also says super-spreading events are the main concern, not super-spreading individuals. Per Johns Hopkins case tracker, U.S. infections are now over 4.6M with over 154K deaths.
GOP and Dems tussle over fourth round of U.S. stimulus
Talks between Republican and Democratic leaders over the specifics of the latest round, the fourth, of economic stimulus are proceeding down the familiar contentious path. Both sides agree on sending $1,200 checks to most Americans but the GOP is apparently balking at a boost to unemployment insurance which was set at $600 per week but recently lapsed. Democrats want to preserve the $600 amount while Republicans want to cut it to $200 due to cost concerns. House Speaker Nancy Pelosi is accusing President Trump of standing in the way of a deal. On Face the Nation yesterday, Chief of Staff Mark Meadows said, "I'm not optimistic that there will be a solution in the very near term."
7-Eleven to acquire Speedway for $21B in cash
Seven & i Holdings (OTCPK:SVNDF) indirect subsidiary 7-Eleven has agreed to acquire Speedway from certain subsidiaries of Marathon Petroleum (NYSE:MPC) for $21B in cash. The Enon, Ohio-based chain operates ~3900 convenience stores in 36 U.S. states. The transaction, which includes a 15-year fuel supply agreement for about 7.7B gallons per year, should close in Q1 2021.
China's Caixin manufacturing PMI hits nine-plus year high
The Caixin China manufacturing purchasing managers index hit its highest point since 2011, lending more credence to inklings of a recovery there. China's official PMI rose to its own four-month high last week, and it's got a bigger sample, focused on larger state-owned companies. Caixin focuses on smaller manufacturers, and it hit 52.8, the third straight month it was over 50, signaling expansion.
Rio Tinto sues Australia's Monadelphous over 2019 fire
Rio Tinto (NYSE:RIO) has sued Monadelphous Engineering Associates (OTCPK:MOPHY) over a fire at Rio's Western Australia iron ore processing facility last year. Monadelphous says Rio is claiming MEA breached terms of a contract, and that Rio is seeking A$493M (about $351M) tied to its inability to process iron ore at the plant during repairs.
What else is happening...
Siemens Healthineers (OTC:SEMHF) merges with Varian Medical Systems (NYSE:VAR) in $16B deal.
SpaceX (SPACE) and NASA splashdown breaks 45-year drought.
Blackstone (NYSE:BX), TPG rejigger REIT debt to sidestep margin calls.
Iran stock market hits record high despite sanctions and battered economy.
Today's Markets In Asia, Japan +2.24%. Hong Kong -0.56%. China +1.75%. India -1.64%. In Europe, at midday, London +0.56%. Paris +0.97%. Frankfurt +1.86%. Futures at 6:20, Dow -0.05%. S&P +0.10%. Nasdaq +0.52%. Crude -1.32% to $39.74. Gold +0.02% to $1,986.30. Bitcoin -0.75% to $11,164. Ten-year Treasury Yield +1.3bps to 0.549%
Today's Economic Calendar 9:45 PMI Manufacturing Index 10:00 ISM Manufacturing Index
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What Is a Bull Market?

Introduction


Market trends are among the most fundamental aspects of financial markets. We can define a market trend as the overall direction that an asset or a market is going. As such, market trends are closely watched by both technical analysts and fundamental analysts.
Bull markets tend to be relatively straightforward to trade, as they can allow for some of the easiest trading and investment strategies. Even inexperienced traders may do well in really favorable bull market conditions. With that said, it’s also crucial to understand how markets move in cycles.
So, what should you know about bull markets? How can traders take advantage of bull markets? We’ll explain it all in this article.

What is a bull market?


A bull market (or bull run) is a state of a financial market where prices are rising. The term bull market is often used in the context of the stock market. However, it can be used in any financial market — including bonds, commodities, real estate, and cryptocurrencies. Besides, a bull market may also refer to a specific asset such as Bitcoin, Ethereum, or CTT. It could even refer to a sector, such as utility tokens, privacy coins, or biotech stocks.
You may have heard traders from Wall Street use the terms “bullish” and “bearish.” When a trader says they are bullish on a market, it means that they expect prices to rise. When they are bearish, they expect prices to decline.
Being bullish can often mean that they are also long that market, though that may not necessarily be the case. Being bullish may not necessarily mean that a long trade opportunity is present right now, just that prices are rising or are expected to rise.
It’s also worth noting that a bull market doesn’t mean that prices don’t fall or fluctuate. This is why it’s more sensible to consider bull markets on larger time frames. In this sense, bull markets will contain periods of decline or consolidation without breaking the major market trend.
So, in this sense, the definition of a bull market depends on what time frame we’re talking about. Generally, when we’re using the term bull market, we are talking about a time frame of months or years. As with other market analysis techniques, higher time frame trends will have more validity than lower time frame trends.
As such, there may be prolonged periods of decline in a high timeframe bull market. These counter-trend price movements have a notoriety for being especially volatile — though this can vary greatly.

Bull market examples


Some of the most well-known examples of bull markets come from the stock market. These are the times when stock prices and market indexes (such as the Nasdaq 100) are continually rising.
As far as the global economy is concerned, it fluctuates between bull and bear markets. These economic cycles can last years, even decades. Some say that the bull market starting from the aftermath of the 2008 Financial Crisis and lasting until the coronavirus pandemic was “the longest bull market in history.” This may or may not be true — as we’ve said, high time frame bull markets can be a matter of perspective.
Even so, let’s take a look at the long-term performance of the Dow Jones Industrial Average (DJIA). We can see that it basically has been in a century-long bull market. Certainly, there are periods of decline that can last for years, such as 1929 or 2008, but the overall trend is still pointing upwards.
Some argue that we could see a similar trend with Bitcoin. But we can’t really tell if and when Bitcoin will face a multi-year bear market. It’s also worth noting that most other cryptocurrencies (i.e., altcoins) will probably never experience similar price appreciation, so be extremely aware of what you invest in.

Bull market vs. bear market — what’s the difference?


These are opposite concepts, so the difference isn’t particularly difficult to guess. Prices are continuously going up in a bull market, while prices are continually going down in a bear market.
This also results in differences in how it may be best to trade them. In a bull market, traders and investors will generally want to be long. While in a bear market, they either want to be short or stay in cash.
In some cases, staying in cash (or stablecoins) may also mean shorting the market, since we’re expecting prices to decline. The main difference is that staying in cash is more about preserving capital while shorting is about profiting off the decline in asset prices. But if you sell an asset expecting to buy it back lower, you’re essentially in a short position — even if you are not directly profiting from the drop.
One additional thing to consider is fees. Staying in stablecoins will likely not incur any fees, as there typically isn’t a cost to custody. However, many short positions will require a funding fee or interest rate to keep the position open. This is why quarterly futures may be ideal for long-term short positions, as there is no funding fee associated with them.

How traders can take advantage of bull markets


The main idea behind trading bull markets is relatively simple. Prices are going up, so going long and buying dips is generally a reasonable strategy. This is why the buy and hold strategy and dollar-cost averaging are generally well-suited for long-term bull markets.
There’s a saying that goes like this: “The trend is your friend, until it’s not.” This just means that it makes sense to trade with the direction of the market trend. At the same time, no trend will last forever, and the same strategy may not perform well in other parts of a market cycle. The only certainty is that the markets can and will change. As we’ve seen with the COVID-19 outbreak, multi-year bull markets can be wiped out in a matter of weeks.
Naturally, most investors will be bullish in a bull market. This makes sense since prices are going up, so the overall sentiment should also be bullish. However, even during a bull market, some investors will be bearish. If their trading strategy accommodates for it, they may even be successful with short-term bearish trades, such as shorting.
As such, some traders will try to short the recent highs in a bull market. However, these are advanced strategies and are generally more suitable for professional traders. As a less experienced trader, it’s usually more sensible to trade according to the trend. Many investors get trapped trying to short bull markets. After all, stepping in front of a raging bull or a locomotive can be a dangerous undertaking.

Closing thoughts


We’ve discussed what a bull market is, and how traders may approach trading in bull market conditions. Typically, the most straightforward trading strategy in any market trend is to follow the direction of the overall trend.
As such, bull markets may present good trading opportunities, even for beginners or first-time investors. However, it’s always essential to manage risk properly and keep learning to avoid mistakes as much as possible.
Still having more questions about market trends, bull markets, or trading? Check out our Q&A platform, Ask service support, where the Citex community will answer your questions.
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The basics of crypto-trading: indicators, charts and trend lines

The basics of crypto-trading: indicators, charts and trend lines

The basics of crypto-trading: indicators, charts and trend lines
Halving on the Bitcoin network has become one of the key events in the cryptocurrency market, which has fueled the interest not only of long-standing players, but also has caused the release of new ones. This is evidenced by recent data on the growing demand for crypto assets on top cryptocurrency exchanges such as Bithumb Global. For those who are just getting acquainted with the crypto-market and want to try their hand at trading a new class of assets, we will tell you what tools crypto-exchanges offer and how to use them in crypto-trading.
To start trading cryptocurrencies, you must first select:
• Crypto-wallet — there are several types of crypto-wallets: hot, cold, desktop, mobile and paper. All of them provide different levels of security and convenience. At the same time, the best option for storing cryptocurrencies is the use of two different wallets — hot and cold. So do most large companies working with digital assets.
• Crypto-exchange is a trading platform that will allow you to exchange, buy and sell cryptocurrencies. Such platforms can be centralized (CEX), decentralized (DEX) or hybrid, combining the qualities of CEX and DEX.
• A crypto-portfolio is a collection of crypto-assets collected for profit. It is best to form it in three stages: part of the currency for long-term storage (from 1 year and longer), another part — a medium-term deposit (up to six months) and a deposit for trading for several days or a week. When starting crypto trading, it is advisable to diversify your investment in a deposit for trading, paying attention not only to the potential of a particular coin, but also to the ways of earning that the cryptocurrency market offers. Experts advise at the initial stages to choose assets from the top 10 rating by capitalization.

Terminology

Order — a trader’s request for a cryptocurrency transaction. Orders are divided into market orders — for purchase (Buy) or sale (Sell), and pending — requests for a transaction at a non-market price, waiting for it to be at the right level. Pending orders include:
⁃ Limit — for sale / purchase at a price higher / lower than the current market price
⁃ Stop loss — orders to limit the loss
⁃ Take Profit — Take Profit Order
Market maker and market taker are market participants who create and accept orders. The market maker creates a new transaction request, increases the turnover of the exchange and raises the liquidity of the crypto asset, while the receiving market taker takes the asset out of circulation, lowering its liquidity. In this connection, different commissions are introduced on some crypto exchanges for makers and takers.
Exchange Cup or Order Book — a table with limit orders, which displays the closest sellers and buyers, where sellers’ orders are marked in red, and buyers are marked in green. The columns of the table show the number of cryptocurrencies and the price at which they intend to sell or buy. At the junction of these tables, a spread is formed — the difference in the price of supply and demand. The lower the spread, the more liquid the cryptocurrency. The analysis of the stock market is a leading indicator of the state of the market, since it allows you to predict changes before they happen.
Long and short positions (Long and Short) — the usual “mode” of trading. In the case of a long position, we buy cheaper and sell more. It is believed that the growth of assets in the market is a long process, therefore, work in this direction is also called long. The second option means a short position, that is, a game for a fall. The market believes that the decline in the value of assets occurs quickly, that is, in a short time. Therefore, this position is called “short.”
Exchange chart — shows the change in the price of cryptocurrency over time and is the most important tool for technical analysis. Charts display price changes with a line, bar and candlestick.
Bulls and bears — in the market so-called buyers and sellers. There is an analogy with the nature of animals: buyers always push the price up, creating a demand for something, and it turns out that the price seems to be pushed by horns. In this connection, bulls are optimists, they believe that the prices of the shares they bought will rise, and someday they will sell the asset more expensive than they bought. The bulls in the market are overwhelming (by approximate estimates, up to 80%), long investments are kept on them, and the bull trend means stable growth of stocks and general welfare. Bears, in turn, are sellers who have learned to capitalize on a falling market: they usually try to sell cryptocurrencies faster, often lowering the price of an asset. Concluding a contract for the sale, they fix its value, and then wait until the goods fall in price, close the deal and put the proceeds in their pocket. Bears are interested in a constant reduction in prices and achieve their goal, provoking an increase in supply: open short positions and sell until the price drops to the desired level.
Technical analysis is a set of tools for market forecasting of prices based on the movement of value in the past. In technical analysis, the same tools can be used for different markets and trading pairs with a slight adjustment of indicators. Also, technical tools are equally successfully used on any timeframes — from a minute to a year.
Fundamental analysis — this type of analysis is based on the consideration of financial and production market indicators that may affect the price of a traded instrument. The mood of market players, current and growing trends, indicators of production activity — all this information can give an extensive idea of the potential of the investment object in question. The main disadvantage of the fundamental analysis is that the information provided by him is insufficient to predict the movement of prices in some local areas. It is possible to determine a potentially good company that has excellent financial performance and has real prospects, but it will be impossible to determine the moment of entering a short-term profitable trade with a good indicator of risk to profit ratio.
Pattern — behavioral model / trading setup / market pattern. Patterns are one of the most common methods for analyzing price movements. Each pattern is always based on a certain idea, the simplest and most understandable. There are a lot of trading models, but all of them are derived from the classical model of breakdown or rebound from certain significant price levels.

Basic cryptocurrency trading tools at Bithumb Global

Using the example of a centralized cryptocurrency exchange Bithumb Global, we will analyze the main elements that cryptotraders will encounter in the initial stages of trading. When choosing a cryptocurrency exchange, first of all, you need to pay attention to the presence of:
⁃ Convenient ways to deposit and withdraw funds
⁃ Fiat currency support
⁃ High number of trading pairs
⁃ Information on the current state of cryptocurrency rates
⁃ Cryptocurrency Rate Charts
⁃ Technical indicators
⁃ Different levels of user verification
⁃ Built-in cryptocurrency wallet
⁃ 24/7 tech support
On the Bithumb Global main page, a selection of top trading pairs is offered, where cryptocurrency tickers are listed, their price, exchange rate for the last day, daily trading volume and the asset quotes movement chart.

Top trading pairs at Bithumb Global. Source.
If you select a pair from this list, then Bithumb Global will automatically transfer the user to the Base Version of Spot Trading. Spot trading — the terms of the transaction with cryptocurrency, in which payment is made to both parties immediately.
Here the user can get acquainted with the latest price of an asset, the volume of transactions with it, data on transactions and the minimum and maximum prices for the last day.

Basic Version of Spot Trading on Bithumb Global. Source.
You can select another trading pair in the top menu by hovering over the corresponding button, but the easiest way is to find the desired pair through the search. At the same time, the Professional Version of Spot Trading opens up a wider set of tools for the user, which will be discussed later.

Trading Tools Professional Version Bithumb Global

On the Professional Version, users can use price charts in the form of Candles, which look like a series of vertical lines and display price changes, where the upper point shows the maximum that the price has reached and the lower one — the minimum. If the closing price is lower than the opening, then the candle will be painted red or black, and if higher, then green or white. Knowing the direction of the price movement (body color of the candle), we can say exactly where the closing and opening prices are.

Price chart in the form of Candles at Bithumb Global. Source.
Also in this version of Spot Trading, a price chart is available to users in the form of a Glass, where sellers ‘bids are marked in red and buyers’ bids are marked in green. The analysis of the stock market is a leading indicator of the state of the market, since it allows you to predict changes before they happen. If, for example, a large congestion of sales requests at the upper price limit can be noted, then as soon as the market reaches this limit, a recession will provoke, triggered by a large number of sales.

Price chart in the form of a Glass on Bithumb Global. Source.
Price charts also have different timeframes — from 1 minute to 1 week, which allows you to conduct a more in-depth analysis of the movement of quotes of the selected asset.

Bithumb Global price chart timeframes. Source.
Also in this version of Bithumb Global, various Indicators are available to traders. In total, the cryptocurrency exchange provides about 80 different indicators that will help in the technical analysis of the movement of crypto asset quotes.
Let’s analyze the main indicators available on Bithumb Global:
Volume — allows you to track the number of transactions completed by traders over a specific time interval. Green and red bars are indicators of the volume of transactions: red signals a decrease in volume, green — its growth. By analyzing the volume of transactions against the background of the price movement chart, you can confirm the strength of the trend or reveal its weakness and predict a price reversal. If prices rise and trading volume rises, we observe a bullish trend. An increase in trading volume in the event of a decline in prices indicates a bearish trend.
Moving Average (MA) is just as popular a tool as volume is. The indicator function analyzes the average prices for the selected time interval, which gives a relative idea of the general price trends. If the actual price of cryptocurrency for a long time keeps above the moving average, we can assume that it will continue to grow. Accordingly, a fall below MA is a signal to lower the price of an asset. For more accurate forecasts, it is advisable to use several moving averages based on different time intervals. Moreover, in case of disagreement, it is customary to consider the value of the average based on a longer period of time. If the signals from several moving averages coincide, we can talk about a fairly accurate forecast.
MACD (Moving Average Convergence Divergence) — having trained on one moving average, we will move on to a comprehensive analysis of this indicator. The MACD tool analyzes the convergence and divergence of three moving averages and can signal the beginning of a new trend. MACD also works well on different timeframes and is a fairly simple and popular indicator of technical analysis.
Zig Zag is an auxiliary indicator that analyzes the highest and lowest points of the cryptocurrency exchange rate and allows you to determine the correct entry points into the market. The plus of the indicator is that it eliminates the noise that can distort the forecast of the trend behavior. Minor fluctuations are simply not taken into account: lines connect the highest and lowest points of the price chart directly. The zigzag shows global market movements, but at the same time it only captures these changes in the past, without giving forecasts on the price behavior in the future.
Relative Strength Index (RSI) — shows the greatest efficiency in a sideways trend. With active course dynamics, RSI may produce incorrect data. Such indicators of technical analysis are called oscillators, and they must be used with caution. The indicator’s algorithms analyze price changes and allow you to evaluate the oversold or overbought status of an asset and, therefore, predict the occurrence of a bull or bear trend.
CCI (Commodity Channel Index) — The CCI or Commodity Channel Index, as well as the Relative Strength Index (RSI), helps evaluate overbought or oversold assets. This chart with values from minus 100 to plus 100 is displayed under the current price chart and can be applied on any timeframes. A CCI of more than a hundred means that the asset is overbought, and the price is about to fall, and on the contrary, a CCI below minus one hundred indicates the oversoldness of the asset and the likely increase in its price. This tool also refers to oscillators and is used during a lateral trend when there is no clear idea of how the price will behave in the near future.
ADC and DI — the index of the average direction and direction of movement, signals a change in trend. It looks like three lines on the chart: red — bears, green — bulls, blue (there may be other colors on different platforms) — the strength of the trend. This indicator is fairly reliable on four-hour and day frames. If the trend strength line is within 10−20 points, this indicates that the trend is gaining strength, but if the indicators reach 60−80 points, you should wait for the trend correction. The green and red lines will show who sets the market mood — bulls or bears. If the green line crosses the red line, the trend becomes bullish, and vice versa.

Indicators at Bithumb Global. Source.
Another useful tool available on the Professional Version of Bithumb Global is Trend Lines. It allows you to demonstrate in which direction the price of an asset is moving. The Dow theory, which is the basis of all technical analysis, suggests that no matter how the price behaves, it will always be in a particular trend. If the price behaves relatively evenly and stays in the same range without showing either growth or decline, such a trend is called a side or flat trend.
A growing (“bullish”) trend is characterized by the appearance of a series of ascending highs, with each new peak must be higher than the previous one. Accordingly, the “bearish” downtrend shows points of failure (price low), each subsequent of which will be lower than the previous one.
A trend line can be built on two points of a minimum or maximum, and a third confirming one is mandatory. The more points form a trend line, the more confident and stable the trend itself. The construction points should not be too close to each other in the time frame, otherwise the direction of the trend will not be completely correct. Please note that the uptrend line is plotted below the chart, and the downtrend is above it. The slope on the trend line should also be taken into account — its constancy indicates the stability of the trend. The change in the angle of the trend line is called the acceleration or deceleration of the price movement. The larger the angle, the faster the trend.
A line through price lows is called a support line. As soon as the price reaches it, it finds market support there and, pushing off, again strives upward. The line connecting price highs is called the resistance line.This is the level above which the value of the asset has not yet risen. If the price breaks the support or resistance line, this is a clear signal for a trend violation and a change in trading tactics.

Trendlines at Bithumb Global. Source.

Finally

The above are the basic trading tools available to traders of the Professional Version of the Bithumb Global crypto-exchange. They will help you figure out how to properly analyze the key metrics of cryptocurrency assets so that you can build the most advanced trading strategy. However, this is not the whole range of tools available to Bithumb Global traders. Follow DeCenter materials to learn about the intricacies of cryptocurrency trading on the advanced cryptocurrency exchange.
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For Trading May 7th

For Trading MAY 7th
Split Market -NAZ Up, DOW Down
Earnings Galore
Today’s market was a split affair from right after the open. While the NASDAQ was higher, the DJIA and S&P 500 were sloppy at best. While the NASDAQ has regained its entire loss for 2020 (not the highs, but since 1/2/2020), the DJIA is still -5054 or 17.5% and the S&P 500 is -392 or 12%. At the highs today the DJIA was +171 and finished on the lows -218.45 (.91%), NASDAQ +45.27 (.51%), S&P 500 -20.02 (.70%), the Russell -10.50 (.82%) and the DJ Transports -115.47 (1.43%). Market internals were weak with NYSE 2:1 down and NASDAQ 1.5:1 down. Volume was also light. On the DJIA we were decidedly down with 23 lower, 6 higher and PFE unchanged. The gainers were AAPL +21 and MSFT +12 DPs while on the downside we had UNH -29 and BA & TRV -24 DPs. Sectors on the upside included Info tech and consumer discretionary while Financial, Utilities and Energy the weak groups.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 1900 members. I also did this video titled “How to survive being an options trader and not blow up your account,” over the long weekend. I think it’s very informative as a guide to stock selection and option choices. The link is https://youtu.be/Y7H9RpWfLlo Enjoy!!
Tonight’s closing comment video https://youtu.be/RQTFwMS1vZk
SECTORS: Earnings played a part in today’s market again. PTON was higher by 1.81 before the numbers and after the beat the stock traded as high as $42.40 and settled $41.76 + 3.73. WYNN missed top and bottom lines with the slower than expected attendance in Macau and the stock, already down from a recovery high of $152 to close the day $79.25 -.42 fell to $76.50 before a $77.40 close -1.85. ETSY was also a disappointment after closing at a new all-time high at $78.24 +5.45 (7.49%) and after hitting $84.01 fell back to $69.11 and finished $74.05 – 4.19.
But the award for the day goes to the analysts who both downgraded Macro-Genics (MGNX) and lowered their price objectives to $13 from $17 (Credit Suisse) and $15 from $16 at SVB Leerink, only to have the stock report and then be halted for volatility several times on its way from last nights close of $7.60 to $27.34 and closed $25.15 +17.55 (230.92%)…GOOD CALL…Got your resume up to date??
FOOD SUPPLY: was MIXED with TSN -2.29, BGS +1.68 (8.6%), FLO -.62, CAG +.38, MDLZ -.18, KHC +.33, CALM +.12, JJSF -6.05, SAFM +.89, and LANC -.83.
BIOPHARMA: was MIXED with BIIB +2.34, ABBV -.05, REGN -19.37, ISRG -.86, GILD -1.89, MYL +.29, TEVA +.51, VRTX -2.27, BHC +.54, INCY -2.74, ICPT +8.65 (10.77%), LABU +.46 and IBB $127.00 +.02 (.02%).
CANNABIS: This group was LOWER with TLRY -.05, CGC -.41, CRON -.18, GWPH +2.48, ACB -.01, PYX +.16, NBEV +.02, CURLF -.09, KERN -.10 and MJ $11.50 -.35 (2.95%).
DEFENSE: was LOWER with LMT -11.85, GD -4.40, TXT -.30, NOC -5.71, BWXT +1.53, RTX -1.35, and ITA $144.00 -3.45 (2.34%).
RETAIL was LOWER with M -.18, JWN -.14, KSS -.52, DDS -.20, JCP -.023, WMT -1.77, TGT +1.73, TJX -.49, RL -1.19, UAA -.13, LULU +4.80, TPR -.70, CPRI -.45 and XRT $36.31 +.10 (.28%).
FAANG and Big Cap: were HIGHER with GOOGL -3.59, AMZN +27.30, AAPL +2.44, FB +.94, NFLX +11.04, NVDA +3.26, TSLA +11.39, BABA +.38, BIDU +.75, CMG -4.23, CAT -1.45, BA -3.70, DIS -.25 and XLK $92.03 +.71 (.78%).
FINANCIALS were LOWER with GS -2.10, JPM -1.97, BAC -.38, MS -.73, C -1.12, PNC -1.27, AIG -1.75, TRV -3.56, AXP -2.75, V -.33 and XLF 21.32 -.47 (2.16%).
OIL, $25.62 -.87. Oil was higher over-night and the rally continued early in the day to a new recovery high of $27.98 before falling back and closing down on the day. The stocks were lower across the board with the XLE $36.15 -.97 (2.61%).
METALS, GOLD: $1,688.50 -22.10. After the recent gains, Gold broke solidly above $1,700 and traded as high as $1788 last Wednesday. We were stopped out of our position in the 5/15 163 calls on the 50% Down Rule. We are also long NEM.
BITCOIN: closed $9340 +355. After breaking out over $7500 we have consolidated and broken over 8,000 and 8,500 and again consolidated. Today’s close is the highest since BTC broke down in early March at $9385 and 9390. $10,000-10,250 seems like the next stop. We still own 400 GBTC with an average of $8.06. GBTC closed $10.76 +.73 today.
Tomorrow is another day.
CAM
submitted by Dashover to pennystocks [link] [comments]

How I am trading the Dow Jones

How I am trading the Dow Jones

My current open trade positions including 2x Dow Long Trades
I currently have 2 long positions open on the Dow Jones index and have been trading the recent bull run for almost 2 weeks now. The long term trend for this index is definitely bullish and any pullbacks in price are swiftly being met by more new buyers.
Dow 4hr chart
There are a few reasons for this. Firstly, there is no reason for US stocks to sell off in a dramatic fashion. There have (and always will be) lots of rumours of a recession with US debt levels rising and stocks being “overpriced” but that alone is not a reason to expect a recession right now.
Stocks have been called overpriced since the dawn of time because naturally they increase in price as time goes on. Much like the cost of a loaf of bread, inflation causes the prices of stocks to rise and Index’s will replace stocks that lose a lot of market cap with new up and coming stocks.
The second reason people keep calling for a recession immeidately is because of the increased levels of debt and borrowing in the USA.
The levels of US debt (measured as a % of GDP) are at their highest since World War 2 but that is not a major problem. The US Dollar is still used as a global reserve currency. It is why you will see many 3rd world countries preferring to accept it over their own currency and it is used as the base for Crude Oil and Gold valuations so the demand for US dollars will almost always be apparent.
US Debt (GDP %)
Many people say Gold or Bitcoin is the next major backup for currency when the recession hits but the simple fact is that you can’t pay for anything with gold. No business is going to accept gold in exchange for food & water, rent, mortgage payments or utilities bills. And bitcoin is about as stable as 2 legged donkey.
My trade entries:
My first long position entry developed from a quick day trade I planned and entered last week. I entered a very tight stop loss, short duration trade with a reasonable reward:risk of just under 3R.
Dow 15 min chart
I spotted a good daily buying trend appearing. Price had rejected a major support zone at $28,150 and from there it one ton to make nice higher highs and higher lows through the follow 4 days of trading. I entered long on the bounce of the bullish trendline and 50 EMA.
I closed a good percentage of my position at my first profit target which is shown on the chart above. However there was strong bullish momentum and I am still holding a portion of that initial long trade position open.
Dow 4hr chart
My second long trade position was entered on Monday morning after price had made a clear higher higher low and bounced off of the intraday support/resistance zone at $28,900. There was a strong 4hr bullish wick rejection candle closure and price closed above the support zone and 50 EMA.
Both trade entries are just very simple trend continuation entries with good reward:risk ratios.
Fundamentals & data:
Later today we have the U.S Crude Oil inventories data being released. This shouldn’t move the Dow Jones Index unless a shock figure is announced. Theoretically if inventory levels are massively increased then the price of Crude will fall dramatically and this will pull stocks down. The opposite can be said if Crude Oil price rises sharply.
This evening (7pm GMT) there is the US monthly budget statement for JAN 2020 but this shouldn’t move markets in a major way. However, you may see some short term volatility moves.
The main mover of markets this week will be the USD consumer price index data that is being released tomorrow afternoon. Inflation can be a double edged sword because it can stimulate job growth and as we have seen recently, the US job market is still growing rapidly. However, inflation can also effect corporations and their profit levels because it costs more to purchase goods/materials used for production.
We also have the ongoing global issue of the Corona Virus. it initiated the last big sell-off on global indices at the end of January and the related headlines will continue to influence the markets.
Long term price predictions:
Dow daily chart
If price continues to climb today then I would like to think there is enough momentum to break through the $29,500 resistance zone. If this happens then I see no reason why new all time highs won’t be achieved and a significant daily/4hr higher will made.
Dow 4hr chart
Long term profit targets are set at $29,800 which is a higher high for price. From there, if that level breaks then the key psychological level of $30,000 is next in line. I know there are a lot of professional and institutional traders wanting to see “Dow to $30k” and I am certain Mr Trump wants to see stocks climb right up until he is re-elected.
The alternative scenario is that price finds more resistance at $29,500 and begins to drop off. This is not a major issue and I will likely look to take some more profits if rejections of that price zone begin to appear.
*Taken from my blog site https://diaryofafinancekid.com/blog/
submitted by TheModernSpeculator to Daytrading [link] [comments]

For Trading May 7th

For Trading MAY 7th
Split Market -NAZ Up, DOW Down
Earnings Galore
Today’s market was a split affair from right after the open. While the NASDAQ was higher, the DJIA and S&P 500 were sloppy at best. While the NASDAQ has regained its entire loss for 2020 (not the highs, but since 1/2/2020), the DJIA is still -5054 or 17.5% and the S&P 500 is -392 or 12%. At the highs today the DJIA was +171 and finished on the lows -218.45 (.91%), NASDAQ +45.27 (.51%), S&P 500 -20.02 (.70%), the Russell -10.50 (.82%) and the DJ Transports -115.47 (1.43%). Market internals were weak with NYSE 2:1 down and NASDAQ 1.5:1 down. Volume was also light. On the DJIA we were decidedly down with 23 lower, 6 higher and PFE unchanged. The gainers were AAPL +21 and MSFT +12 DPs while on the downside we had UNH -29 and BA & TRV -24 DPs. Sectors on the upside included Info tech and consumer discretionary while Financial, Utilities and Energy the weak groups.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 1900 members. I also did this video titled “How to survive being an options trader and not blow up your account,” over the long weekend. I think it’s very informative as a guide to stock selection and option choices. The link is https://youtu.be/Y7H9RpWfLlo Enjoy!!
Tonight’s closing comment video https://youtu.be/RQTFwMS1vZk
SECTORS: Earnings played a part in today’s market again. PTON was higher by 1.81 before the numbers and after the beat the stock traded as high as $42.40 and settled $41.76 + 3.73. WYNN missed top and bottom lines with the slower than expected attendance in Macau and the stock, already down from a recovery high of $152 to close the day $79.25 -.42 fell to $76.50 before a $77.40 close -1.85. ETSY was also a disappointment after closing at a new all-time high at $78.24 +5.45 (7.49%) and after hitting $84.01 fell back to $69.11 and finished $74.05 – 4.19.
But the award for the day goes to the analysts who both downgraded Macro-Genics (MGNX) and lowered their price objectives to $13 from $17 (Credit Suisse) and $15 from $16 at SVB Leerink, only to have the stock report and then be halted for volatility several times on its way from last nights close of $7.60 to $27.34 and closed $25.15 +17.55 (230.92%)…GOOD CALL…Got your resume up to date??
FOOD SUPPLY: was MIXED with TSN -2.29, BGS +1.68 (8.6%), FLO -.62, CAG +.38, MDLZ -.18, KHC +.33, CALM +.12, JJSF -6.05, SAFM +.89, and LANC -.83.
BIOPHARMA: was MIXED with BIIB +2.34, ABBV -.05, REGN -19.37, ISRG -.86, GILD -1.89, MYL +.29, TEVA +.51, VRTX -2.27, BHC +.54, INCY -2.74, ICPT +8.65 (10.77%), LABU +.46 and IBB $127.00 +.02 (.02%).
CANNABIS: This group was LOWER with TLRY -.05, CGC -.41, CRON -.18, GWPH +2.48, ACB -.01, PYX +.16, NBEV +.02, CURLF -.09, KERN -.10 and MJ $11.50 -.35 (2.95%).
DEFENSE: was LOWER with LMT -11.85, GD -4.40, TXT -.30, NOC -5.71, BWXT +1.53, RTX -1.35, and ITA $144.00 -3.45 (2.34%).
RETAIL was LOWER with M -.18, JWN -.14, KSS -.52, DDS -.20, JCP -.023, WMT -1.77, TGT +1.73, TJX -.49, RL -1.19, UAA -.13, LULU +4.80, TPR -.70, CPRI -.45 and XRT $36.31 +.10 (.28%).
FAANG and Big Cap: were HIGHER with GOOGL -3.59, AMZN +27.30, AAPL +2.44, FB +.94, NFLX +11.04, NVDA +3.26, TSLA +11.39, BABA +.38, BIDU +.75, CMG -4.23, CAT -1.45, BA -3.70, DIS -.25 and XLK $92.03 +.71 (.78%).
FINANCIALS were LOWER with GS -2.10, JPM -1.97, BAC -.38, MS -.73, C -1.12, PNC -1.27, AIG -1.75, TRV -3.56, AXP -2.75, V -.33 and XLF 21.32 -.47 (2.16%).
OIL, $25.62 -.87. Oil was higher over-night and the rally continued early in the day to a new recovery high of $27.98 before falling back and closing down on the day. The stocks were lower across the board with the XLE $36.15 -.97 (2.61%).
METALS, GOLD: $1,688.50 -22.10. After the recent gains, Gold broke solidly above $1,700 and traded as high as $1788 last Wednesday. We were stopped out of our position in the 5/15 163 calls on the 50% Down Rule. We are also long NEM.
BITCOIN: closed $9340 +355. After breaking out over $7500 we have consolidated and broken over 8,000 and 8,500 and again consolidated. Today’s close is the highest since BTC broke down in early March at $9385 and 9390. $10,000-10,250 seems like the next stop. We still own 400 GBTC with an average of $8.06. GBTC closed $10.76 +.73 today.
Tomorrow is another day.
CAM
submitted by Dashover to OptionsOnly [link] [comments]

For Trading May 7th

Split Market -NAZ Up, DOW Down
Earnings Galore
Today’s market was a split affair from right after the open. While the NASDAQ was higher, the DJIA and S&P 500 were sloppy at best. While the NASDAQ has regained its entire loss for 2020 (not the highs, but since 1/2/2020), the DJIA is still -5054 or 17.5% and the S&P 500 is -392 or 12%. At the highs today the DJIA was +171 and finished on the lows -218.45 (.91%), NASDAQ +45.27 (.51%), S&P 500 -20.02 (.70%), the Russell -10.50 (.82%) and the DJ Transports -115.47 (1.43%). Market internals were weak with NYSE 2:1 down and NASDAQ 1.5:1 down. Volume was also light. On the DJIA we were decidedly down with 23 lower, 6 higher and PFE unchanged. The gainers were AAPL +21 and MSFT +12 DPs while on the downside we had UNH -29 and BA & TRV -24 DPs. Sectors on the upside included Info tech and consumer discretionary while Financial, Utilities and Energy the weak groups.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 1900 members. I also did this video titled “How to survive being an options trader and not blow up your account,” over the long weekend. I think it’s very informative as a guide to stock selection and option choices. The link is https://youtu.be/Y7H9RpWfLlo Enjoy!!
Tonight’s closing comment video https://youtu.be/RQTFwMS1vZk
SECTORS: Earnings played a part in today’s market again. PTON was higher by 1.81 before the numbers and after the beat the stock traded as high as $42.40 and settled $41.76 + 3.73. WYNN missed top and bottom lines with the slower than expected attendance in Macau and the stock, already down from a recovery high of $152 to close the day $79.25 -.42 fell to $76.50 before a $77.40 close -1.85. ETSY was also a disappointment after closing at a new all-time high at $78.24 +5.45 (7.49%) and after hitting $84.01 fell back to $69.11 and finished $74.05 – 4.19.
But the award for the day goes to the analysts who both downgraded Macro-Genics (MGNX) and lowered their price objectives to $13 from $17 (Credit Suisse) and $15 from $16 at SVB Leerink, only to have the stock report and then be halted for volatility several times on its way from last nights close of $7.60 to $27.34 and closed $25.15 +17.55 (230.92%)…GOOD CALL…Got your resume up to date??
FOOD SUPPLY: was MIXED with TSN -2.29, BGS +1.68 (8.6%), FLO -.62, CAG +.38, MDLZ -.18, KHC +.33, CALM +.12, JJSF -6.05, SAFM +.89, and LANC -.83.
BIOPHARMA: was MIXED with BIIB +2.34, ABBV -.05, REGN -19.37, ISRG -.86, GILD -1.89, MYL +.29, TEVA +.51, VRTX -2.27, BHC +.54, INCY -2.74, ICPT +8.65 (10.77%), LABU +.46 and IBB $127.00 +.02 (.02%).
CANNABIS: This group was LOWER with TLRY -.05, CGC -.41, CRON -.18, GWPH +2.48, ACB -.01, PYX +.16, NBEV +.02, CURLF -.09, KERN -.10 and MJ $11.50 -.35 (2.95%).
DEFENSE: was LOWER with LMT -11.85, GD -4.40, TXT -.30, NOC -5.71, BWXT +1.53, RTX -1.35, and ITA $144.00 -3.45 (2.34%).
RETAIL was LOWER with M -.18, JWN -.14, KSS -.52, DDS -.20, JCP -.023, WMT -1.77, TGT +1.73, TJX -.49, RL -1.19, UAA -.13, LULU +4.80, TPR -.70, CPRI -.45 and XRT $36.31 +.10 (.28%).
FAANG and Big Cap: were HIGHER with GOOGL -3.59, AMZN +27.30, AAPL +2.44, FB +.94, NFLX +11.04, NVDA +3.26, TSLA +11.39, BABA +.38, BIDU +.75, CMG -4.23, CAT -1.45, BA -3.70, DIS -.25 and XLK $92.03 +.71 (.78%).
FINANCIALS were LOWER with GS -2.10, JPM -1.97, BAC -.38, MS -.73, C -1.12, PNC -1.27, AIG -1.75, TRV -3.56, AXP -2.75, V -.33 and XLF 21.32 -.47 (2.16%).
OIL, $25.62 -.87. Oil was higher over-night and the rally continued early in the day to a new recovery high of $27.98 before falling back and closing down on the day. The stocks were lower across the board with the XLE $36.15 -.97 (2.61%).
METALS, GOLD: $1,688.50 -22.10. After the recent gains, Gold broke solidly above $1,700 and traded as high as $1788 last Wednesday. We were stopped out of our position in the 5/15 163 calls on the 50% Down Rule. We are also long NEM.
BITCOIN: closed $9340 +355. After breaking out over $7500 we have consolidated and broken over 8,000 and 8,500 and again consolidated. Today’s close is the highest since BTC broke down in early March at $9385 and 9390. $10,000-10,250 seems like the next stop. We still own 400 GBTC with an average of $8.06. GBTC closed $10.76 +.73 today.
Tomorrow is another day.
CAM
submitted by Dashover to options [link] [comments]

Can Bitcoin separate from the independent market

Can Bitcoin separate from the independent market
Recently, the price of Bitcoin plunged to $ 3,600 on BitMEX and $ 3,800 on Bitfinex, setting the worst one-day drop in seven years. The sell-off coincided with a sharp correction in the US stock market.
Bitcoin, at least in theory, should be a safe-haven asset immune to the turbulence of traditional financial markets. However, in the past two weeks, as investors frantically sold high-risk assets, Bitcoin has begun to fall in sync with the stock market.
Do US stocks dive leading crypto market down?
Over the past week, the bitcoin price has responded to several key events, including President Trump's announcement of a 30-day travel ban between the United States and Europe, and the Federal Reserve's announcement to reduce the federal benchmark interest rate to 0.00% -0.25% Levels and more.
Compared with the trend of S & P 500, Bitcoin is almost the same as Bitcoin.
https://preview.redd.it/2asc4s2plfn41.png?width=600&format=png&auto=webp&s=495f610ada720436a3abfd8e97d66ac062def543
OKEx's advanced analysis is that William told Golden Finance, "Just as bitcoin price has no correlation with gold, there is no obvious correlation between bitcoin and U.S. stocks. The reason why U.S. stocks and bitcoin are falling is that the market is too lacking Liquidity, all funds are looking for safe, liquid assets. "
He explained by way of example that, in normal time, the water in the well is difficult to connect with the water in the lake; but the sky fell and the water levels of the lake and the well fell sharply. Even so, there was not much connection between the two sides. Just because of the influence of the big climate.
US stocks are about to open. How is Bitcoin trending?
In the early morning of March 18, local time, all three major US stock index futures fell, triggering trading restrictions.
The S & P 500 index futures contract for June 2020 fell to 2393.50 points, down 3.70%, hitting trading restrictions. The NASDAQ (7334.78, 430.19, 6.23%) index futures contract for June 2020 fell to 7064.25 points, hitting trading restrictions. The Dow Jones (21237.3809, 1048.86, 5.20%) index for the June 2020 contract was reported at 2039 points, which also hit trading restrictions.
Only 2 hours from the opening of the US stock market, will the US stocks reappear?
In this regard, industry analysts believe that the current US government is preparing to introduce the US $ 700 billion to the US $ 1 trillion stimulus plan and issue it directly to the public. All the US stocks rose due to this positive impact yesterday. But whether the liquidity crisis can be resolved is still a question mark. In addition, there are already confirmed cases in all states in the United States, the number of confirmed diagnoses in Europe is also rising sharply, a large number of factory shutdowns, which has a great impact on the stock market, so the probability of US stocks will fall in the next few months. Investors are not advised to take a dip at this time. It is now a crisis period and a dip is now a high-risk event. Regarding Bitcoin, it is recommended that you do not buy it, for the time being, at least it is not too late to buy it after the liquidity crisis has passed.
In terms of technical indicators, BTC remained within the rising triangle range formed after the recent big drop. The rebound started yesterday evening with the rise of U.S. stocks, but the strength was limited, and it was difficult to form a more powerful rebound in the short term. After wearing the Bollinger Middle Rail for 4 hours, the MACD bullish measuring column started to weaken above the 0 axes. The fast and slow lines have flattened, and the short-term upward momentum is insufficient. In the near future, it is still shock-organized. Parallel head up, volume matching, and breaking through the 4-hour potential double bottom neckline to suppress the high point of $ 5,950. Later, it is expected to test the previous low of 6400-6500. At present, the support below is the uptrend line. Today's limit is 4850. US dollar, the next 4-hour level is 4880 US dollars, short-term support to increase about 30 US dollars every 4 hours, the short-term operation can pay attention to these positions, the current overall maintenance of the triangle interval, waiting for direction choice.
https://preview.redd.it/gi1j9jewlfn41.png?width=600&format=png&auto=webp&s=bcdd2da52cd6a7de41d561c21760d8ff7eb6fc32
submitted by FinnHe to Bitcoin [link] [comments]

After the Bitcoin crash: do others fear me for greed?

At 6:30 pm on March 12, Bitcoin dropped from $ 7211 to $ 5555.55. The bitcoin price dived again this morning, slumping nearly $ 2,000 again in half an hour, the lowest fell to $ 3,782.13, a drop of more than 40% in 24 hours. According to the data of the contract emperor, only Huobi, OKEx, Binance, and BitMEX exchanges had a daily short position of 3.133 billion US dollars, which reached the highest in a single day in history. The number of liquidated positions exceeded 110,000, which was also the highest in a single day.
Also on March 12, the S & P index fell 260.74 points, triggering the fusing mechanism for the second time this week. The Dow hit its largest decline in history, at 2352.6 points. The Nasdaq fell 750.25 points to 7201.8 points. This is the third time in the history of US stocks. This fuse has been 33 years since the first fuse, but only 4 days have passed since the last fuse. Buffett shouted, "I only lived this way in 89 years." It is reported that Buffett lost $ 6.8 billion last night.
According to incomplete statistics, with the exception of the United States, the stock markets of 11 countries including Canada, Mexico, Japan, South Korea, Thailand, India, the Philippines, Indonesia, Brazil, and Pakistan plummeted. The five largest US technology companies, Apple, Amazon, Google, Facebook, and Microsoft, had a cumulative market value of $ 416.63 billion. The Bloomberg Billionaires Index shows that the top 15 richest people in the world lost a total of $ 46.4 billion.
Market panic or pullback demand? Regarding the meltdown of U.S. stocks this week, Yang Delong, chief economist of Qianhai Open Source Fund, believes that the spread of the epidemic is not the main reason. It is more a decade of bull market for U.S. stocks. Some factors driving the rise of U.S. stocks are quietly changing, such as the Federal Reserve ’s interest rate There is not much space. Regarding this crazy drop in Bitcoin, Apocalypse Capital told InfoQ that there are two main reasons for this drop in Bitcoin: on the one hand, the bearish demand caused by the expected global economic downturn, and on the other hand, Bitcoin Callback requirements themselves.
As we all know, Bitcoin will be halved in the second half of the year, but the trading market pays attention to speculation expectations. This round of rise has essentially halved the market. After hitting a high of 10500, Bitcoin is facing a callback demand. Of course, this round of downtrends is so rapid and there are only a handful of recurrences in the history of Bitcoin, which are inextricably linked to the decline in global stock markets, both of which are the result of expectations of a bearish global economy.
However, Johnson Xu, chief analyst of TokenInsight, told InfoQ that the Bitcoin dip was mainly due to market panic, because some market participants bought bitcoins by buying mining machines, borrowing, etc., and expected to reduce their expectations by half. A linkage effect caused by everyone being too optimistic about the market.
The market is overhyped because Bitcoin is halved, and some market participants are afraid to miss the opportunity to enter the market irrationally. The current market slump is driven by strong irrational behavior, which translates into a rapid downside response and quickly depletes market buyers' liquidity (flattening down). When the overall financial market panic or other unexpected events are caused by the New Crown virus and the global economic slowdown, market participants often seek to withdraw assets such as stocks and bitcoins and convert these assets into cash (cash is king). So has the recent gold sell-off.
When the market panics, people ask for cash in the beginning instead of investing in safe-haven assets such as gold. At the same time, because gold is considered a high-quality asset, investors usually start with liquidity crunch and market panic. Cash in on good assets (because inferior assets are more difficult to sell in panic times). The Bitcoin crash this time has a certain connection with the decline in global stock markets, because the entire financial market is a globalized market, and there is more or less linkage between each asset.
In addition, Forbes speculated that it may be because PlusToken scammers transferred bitcoins worth more than 100 million US dollars to the mixer, and then sold bitcoins, resulting in rising market supply.

Other people are greedy, I am afraid, others are afraid of me, greedy? In this case, should investors still expect "halving the market"? Johnson Xu believes that there is no such thing as a "half quotation", and most market participants are too optimistic about the halving of Bitcoin. Price fluctuations are not necessarily caused by halving, but may be caused by the sum of other factors. When everyone is saying that they are optimistic about the market, the existence of risk is ignored in the subconscious. At this time, the risk will be actually reflected, and the upside will gradually shrink. Bitcoin halving was written into the code, and it was not an accident. Bitcoin should be halved in a rational way. It is worth looking forward to, but not overly interpreting and speculation.
However, Tianqi Capital believes that this plunge is a callback period for bitcoin's halving of the market, and each round of sharp decline also indicates the opportunity of the market outlook: cheap chips will be hoarded, waiting for the next wave of hype and explosion. Therefore, Tianqi Capital still believes that the market outlook of Bitcoin is worth looking forward to, provided that it is not frightened by the current fierce washing of the chips, after all, when the bear market is the worst, it is also when gold is everywhere.
Regarding the future trend of Bitcoin, Apocalypse Capital stated that it should judge according to the current trend.
In this round of market, Apocalypse Capital initially chose to follow the downward trend of May 18, and Bitcoin has gradually dropped from a high of 10,000 to 3150 points, so the big support level predicted by this round happens to be 3700 today. Near the point. Data monitoring shows that some funds are involved in this price range. But whether it can hold on to this support remains to be tested. If the 3700 support cannot be maintained, it is very likely that it will hit the US $ 2000 level. Tianqi Capital believes that this is the market's last line of defense. Long-term investment is recommended to buy some relatively stable targets, such as BTC, ETH, etc. The bear market will eliminate many currencies, but if it survives, it will shine in the next round.
Johnson Xu believes that the plunge is also a test to promote the healthy development of the industry. Extreme market is a test for the entire industry, especially for infrastructure, risk management, etc., so it is still optimistic and supports the development of the industry for a long time.
For current investors, Johnson Xu offers the following suggestions:
  1. Other people are greedy, I am afraid, others are afraid of me, greedy.
  2. Global financial markets have also undergone major changes. From the data point of view, I don't think Bitcoin has the attributes of a safe-haven asset, but this market can test whether Bitcoin has a certain risk-avoidance capability. This is a global world. We need to analyze various markets, not just the digital asset market.
  3. In the long run, we are still optimistic about the digital asset industry.
Does Bitcoin have a fusing mechanism? On March 9, after the U.S. stock market crash triggered the fusing mechanism, the market began a discussion of "whether Bitcoin should set up a fusing mechanism". But at present, most people are not optimistic about the Bitcoin fusing mechanism. OKEx CEO Jay Hao said that the fusing mechanism is difficult to implement in the digital currency market. In the face of a highly volatile market, setting the fuse point is a difficult problem. At the same time, for a 7 * 24h market, when a certain exchange breaks down, the price difference between the digital currencies between the platforms will increase, leading to arbitrage, and the fuse mechanism will eventually become a decoration.
Du Wan, the co-founder of Contract Emperor, also said that it is unrealistic to use a fuse mechanism in the currency circle. The fusing mechanism first violates the original intention of the decentralization of the blockchain, and at the same time, it will touch the interests of the top of the currency circle ecological chain. For example, large trading teams can no longer use pins to obtain large profits. When the market is panic, exchanges with a fuse mechanism may lose traffic to exchanges without a fuse mechanism because of the run effect of traders.
It can be seen that the current risk aversion measures in the traditional stock market are difficult to transfer to the fickle currency market in a short time, and the regulation of this market still has a long way to go. Investors should still be cautious when investing.
submitted by FmzQuant to u/FmzQuant [link] [comments]

2019 Cryptocurrency (Elliott Wave): Christmas Update

05-APR-2019 Cryptocurrency (Elliott Wave): Bull Market…?
https://bitcointalk.org/index.php?topic=5128394.msg50467456#msg50467456
20-APR-2019 Cryptocurrency (Elliott Wave): Easter Update
https://bitcointalk.org/index.php?topic=5128394.msg50681435#msg50681435
12-MAY-2019 Cryptocurrency (Elliott Wave): Sell In May And Go Away?
https://bitcointalk.org/index.php?topic=5128394.msg51017295#msg51017295
17-JUN-2019 Cryptocurrency (Elliott Wave): Solstice Update
https://bitcointalk.org/index.php?topic=5128394.msg51505513#msg51505513
28-JUL-2019 Cryptocurrency (Elliott Wave): Inflection Point
https://bitcointalk.org/index.php?topic=5128394.msg51975328#msg51975328
26-OCT-2019 Cryptocurrency (Elliott Wave): Trick or Treat…?
https://bitcointalk.org/index.php?topic=5128394.msg52880531#msg52880531
24-NOV-2019 Cryptocurrency (Elliott Wave): Thanksgiving Update
https://bitcointalk.org/index.php?topic=5128394.msg53171045#msg53171045
24-DEC-2019 Cryptocurrency (Elliott Wave): Christmas Update
https://bitcointalk.org/index.php?topic=5128394.msg53430396#msg53430396
Summary: Bitcoin remains in a bull market with an outlook to exceed the 2017 high. However, a price move below $5000 suggests Bitcoin is in a bear market, with price headed to break below the 2018 lows. The majority of Altcoins favour an extended bear market unless an intervention can be coordinated. The outlook for the stockmarket, in particular the USA, is extremely bullish.
From an Elliott Wave perspective, two scenarios are under consideration at this inflection point: a continuing Bull Scenario or a Bear Scenario.
In either scenario, the Elliott Wave model proposes a five wave structure, consisting of: three advancing bull market waves, interwoven with two declining bear market waves. Overlaying this model onto Bitcoin suggests:
Wave-1: the first bull market wave 2010-2013 (1219 days), followed by; Wave-2: the first bear market wave 2013-2015 (426 days), followed by; Wave-3: the second bull market wave 2015-2018 (1065 days), followed by; Wave-4: the second bear market wave 2018-2019 (363 days), followed by; Wave-5: the third and final bull market wave 2019-? 
—BLX: https://i.imgur.com/FOZu1mH.png
The five aforementioned have been considered as PRIMARY degree waves —such waves elapse the course of a few months to a couple of years. Each PRIMARY degree wave is constituted of five INTERMEDIATE degree waves; and in turn, so forth into smaller degree fractals.
The Bull Scenario suggests Wave-5 is still underway, with subdividing and extending waves headed for new all-time highs.
The Bear Scenario suggests Wave-5 completed at the 26-JUN-2019 high as a truncated fifth wave failure, and a bear market is underway. The majority of Altcoins favour an ongoing bear market.
Bull Scenario
The bullish scenario suggests a continuing bull market is underway. PRIMARY[5] wave started from the 06-FEB-2019 low, and has completed its first parabolic uptrend labelled as INTERMEDIATE(1) wave at the 26-JUN-2019 high.
—BTC: https://i.imgur.com/tw6ZguX.png
Since the 26-JUN-2019 high, INTERMEDIATE(2) wave pullback has been underway and has thus far declined 55% into the low of 18-DEC-2019.
The structure of INTERMEDIATE(2) wave decline has thus far unfolded as three A-B-C waves of MINOR degree as follows:
—Wave-A decline started at the high of 26-JUN-2019 and completed as a complex structure at the low of 23-OCT-2019.
—Wave-B bounce started at the low of 23-OCT-2019 when the market suddenly spiked and surged over 40% within a day —attributed to news of Chinese leader Xi Jinping reportedly stating China should “seize the opportunity” offered by blockchain. The surge was the third largest 24-hour price gain in Bitcoin's history and a simple structure completed at the high of 26-OCT-2019.
—Wave-C decline has been underway since the high of 26-OCT-2019. At the low of 18-DEC-2019, Wave-C reached a Fibonacci 0.618% of Wave-A in length on notable BITFINEX and COINBASE exchanges; in addition, created positive divergence of price against momentum indicators such as the Relative Strength Index on the daily timeframe.
Given the potential of a completed correction as described in the aforementioned A-B-C decline, the market has arrived at a juncture to consider the end of INTERMEDIATE(2) wave decline at the 18-DEC-2019 low.
To provide any credibility to this consideration, price is required to rise from the 18-DEC-2019 low and exceed the high of 29-NOV-2019. In addition, price Is required to unfold in five impulsive i-ii-iii-iv-v rising waves. Thus far as of Christmas Eve, price has risen in one wave from the 18-DEC-2019 low and is below the 29-NOV-2019 high.
Alternatively, the INTERMEDIATE(2) wave decline is still to further subdivide and extend lower. A decline below the 18-DEC-2019 low confirms an ongoing INTERMEDIATE(2) wave decline. The following Fibonacci-based levels may be sought as support zones to conclude the pullback; using COINBASE pricing:
@5431: 78.6% Fibonacci retracement of the entire INTERMEDIATE(1) wave from 15-DEC-2018 to 26-JUN-2019. @5374: MINOR C = MINOR A * 0.786 @4358: 88.6% Fibonacci retracement of the entire INTERMEDIATE(1) wave from 15-DEC-2018 to 26-JUN-2019. [WARNING: Bull Market Terminated?] 
—BTC: https://i.imgur.com/6ORFqnV.png
Using the Greyscale Bitcoin Fund (GBTC) as a proxy to Bitcoin, the rise from the 18-DEC-2019 low thus far, as of Christmas Eve, appears corrective. Therefore, price action currently favours an ongoing decline:
—GBTC: https://i.imgur.com/W5TNedb.png
Once INTERMEDIATE(2) wave pullback has completed, a rising INTERMEDIATE(3) is expected to commence and resume the bull market. Such a wave is expected to unfold parabolically in nature, and at a minimum, meet or exceed the PRIMARY[3] high set on 17-DEC-2017. In both price and time, this wave is expected to be the longest of the PRIMARY[5] bull market.
Where the PRIMARY[5] bull market ends is open to interpretation and speculation.
From an Elliott Wave perspective: A common wave relationship guides the price of the fifth wave to be equal to; or extend a Fibonacci 1.618 or 2.618 times; the length from the low of the first wave through to the high of third wave; projected from the low of the fourth wave. This provides a conservative target of the current bull market to conclude between $22,912 or $35,127 or $54,892, calculated using the BraveNewCoin (BLX) index:
@22912: PRIMARY[5] = (PRIMARY[1] + PRIMARY[3]) * 1 @35127: PRIMARY[5] = (PRIMARY[1] + PRIMARY[3]) * 1.618 @54892: PRIMARY[5] = (PRIMARY[1] + PRIMARY[3]) * 2.618 
—BLX: https://i.imgur.com/PnMZf9x.png
As and when the waves develop and progress, and in the event of subdividing and extending waves, revised price targets shall be calculated with renewed projections.
Bear Scenario
The bear market scenario suggests the 2019 bull market was a short-lived affair, and PRIMARY[5] terminated as a failed-fifth truncated wave.
PRIMARY[5] started from the 15-DEC-2018 low and completed at the 26-JUN-2019 high. A Fibonacci 88.6% retracement of this uptrend is at 4350 COINBASE —a decline to this point ought to signal the market has favoured to deflate.
—BTC: https://i.imgur.com/sOefCp8.png
In this scenario, five completed PRIMARY degree waves have completed a CYCLE I wave structure. And now, a CYCLE II wave bear market pullback is underway and headed to break below the 2018 low.
—BLX: https://i.imgur.com/fJGOI7e.png
The wider cryptocurrency market in terms of the Altcoins currently appear to support the outlook of a bear market. So far in 2019, the price structure of majority Altcoins has seemingly unfolded in corrective A-B-C advancing waves, instead of impulsive 1-2-3-4-5 waves. This suggests the majority of Altcoins may be set to break their respective 2018 lows unless an intervention can be coordinated…
—ETH: https://i.imgur.com/HAqzXoE.png
—LTC: https://i.imgur.com/OoZOuMa.png
—XRP: https://i.imgur.com/hNGFkpw.png
Stockmarket
The outlook for the major global equity stockmarkets, in particular the USA, is extremely bullish.
From the 2009 low of the great financial crises, the Dow Jones Industrial Average index has risen in four PRIMARY degree waves, with a fifth and final rising wave underway which began from the low of 2018.
In 2020, the stockmarket will be entering its 11th bull market year since the low of 2009. Fibonacci numbers next in sequence are 13, 21, 34. Therefore, the stockmarket isn’t likely to run into major headwinds until 2022; or until 2030 if the bull market extends to 21 years:
—DJIA (1915-2019) https://i.imgur.com/h65uK1h.png
—DJIA (2009-2019): https://i.imgur.com/Jltyekg.png
Since the Brexit vote in 2016, the UK FTSE100 has been directionless. With clarity now emerging on Brexit since the 12-DEC-2019 UK election, the FTSE100 is poised to resume a strong bull market:
—FTSE100 (1988-2019): https://i.imgur.com/4omkDHD.png
Analysis is purely speculative, and projections are indicative of price & structure, not time. Merry Christmas!
submitted by 12345abcde00001 to BitcoinMarkets [link] [comments]

Review: The most thrilling 24 hours in Bitcoin history

From 12:00 on March 12th to 12:00 on the 13th, Bitcoin, the most influential currency in the cryptocurrency industry, suffered two major declines, and its price fell from a maximum of 7,672 USD to a minimum of 3,800 USD (data from Huobi, the next Same), the decline was 50.4%, which means that the price of Bitcoin has achieved a fairly accurate "half price" in these 24 hours.
Previously, Bitcoin's "halving market" was mostly considered to be an increase in market prices caused by Bitcoin's halving production, although many people have questioned the "halving market" as " The price is halved ", but when bitcoin walks out of the current bad market, it still surprises most investors.
First plunge
The bad 24 hours started at 12 o'clock on March 12. Due to the rapid spread of the new crown epidemic in Europe and the United States, the global financial markets have been raining for several days. After several adjustments, the price of Bitcoin has hovered up and down within the range of $ 7600-8200 in the previous three days. However, after 12 o'clock on the 12th, Bitcoin The price fell below $ 7,600 for the first time, breaking the psychological expectations of many investors, entering a rapid decline channel, and dropping to about $ 7,200 at around 18 o'clock.
At this time, the decline of Bitcoin is still around 7%, which is a common occurrence in the history of Bitcoin. However, after 18 o'clock that day, the market turned sharply, and the price of bitcoin plunged again in a short period of time. It fell to US $ 5,555 within tens of minutes, a drop of 28%, and the amount of contractual positions on each platform exceeded US $ 2 billion.
During the decline, most major exchanges such as Huobi, Binance, and OKEx experienced systemic freezes of varying degrees. Many users complained for a long time that the exchange app could not properly display the homepage, market page, and transaction page, and added positions, stops, and withdrawals. Obstacles such as cash withdrawal and cash withdrawal operations have also shown that this situation also highlights that mainstream exchanges still fail to address the ability of their trading systems to respond to extreme conditions.
For this decline, the collective sell-off of large Bitcoin holders is considered to be the main reason. For example, Grayscale Investment, the world's largest crypto asset fund management company, was sold and sold 40,000-50,000 Bitcoins. News from the exchange said that Bitcoin sold 400,000.
For a long time, bitcoin has been called "digital gold" by the blockchain industry, and has good risk aversion properties. During the tense situation between the United States and Iran in January this year and the global stock market fell, Bitcoin rose from $ 7,200 all the way to more than $ 10,000. Bitcoin's safe-haven attributes have been widely recognized in history, but this time caused by the new crown epidemic Under the risk of the global economic downturn, the decline in the price of bitcoin has become the asset with the largest depreciation among various mainstream financial assets, and its high-risk nature will most likely collapse.
Some analysts believe that bitcoin should be further classified as an alternative asset. At a time when liquidity shortage is extremely serious, as a high-risk alternative investment asset with the highest volatility in the world, funds will naturally be drawn from the market by investors. Looking for safer, more liquid assets, prices plummet.
"Everyone in the future will realize that Bitcoin is not digital gold, but" an amplifier of risk. " Its value cannot be anchored. Unlike other asset prices, which are affected by costs and prices, Bitcoin has no normal market value range. As of now, it does not have any convincing valuation basis, more like a swaying boat. Without the anchor, its value fluctuates greatly, and the impact of halving the market and supply and demand on it is far less important than psychological factors. "Said Cai Kailong, senior researcher at the Institute of Financial Technology of Renmin University of China.
However, some people in the industry hold different opinions. "BTC is still the most powerful currency in the history of mankind. It provides liquidity 24 hours a day. This is something that other markets simply can't imagine, but because liquidity is too good, this time it just happened to happen in other markets. When funds are scarce, the first choice for selling supplementary funds has also led to the decline of gold. Of course, the amount of BTC that is currently much lower than gold is certainly unstoppable in a short period of time. "A Weibo blogger" "fhrp".
In addition to the sell-off of large institutions, some mortgage lending platforms have also passively become an important boost for this downturn. In the past six months, the Defi concept has been particularly hot in the blockchain industry, and many cryptocurrency-based cryptocurrency lending platforms were born.
As a result, a large number of large Bitcoin users will pledge the Bitcoin in their accounts to third-party lending platforms and use the USDT to borrow cash to purchase cash, which is equivalent to increasing leverage. However, these platforms are not mature in terms of mortgage rate setting and liquidation mechanisms. Users who increase the mortgage rate of assets have a slower transfer speed on the chain. As a result, during this period of rapid decline in the market, a large number of mortgage orders have lower mortgage assets than loans. As a result, the amount of bitcoin out-of-market positions this time was far more than in the previous period of large market volatility, which further exacerbated the selling pressure of the bitcoin spot market.
From 19:00 on the 12th to the early morning of the 13th, the price of Bitcoin hovered in the range of 5800-6200 US dollars, and the market began to prepare for the next stage of the trend.
Second plunge
On the evening of the 12th, the stock markets of mainstream countries in Europe and the United States successively opened and collectively fell, and the stock markets of at least 11 countries, such as the United States, Canada, and the Philippines, melted down. At the close of the morning on the 13th, both the Dow Jones Industrial Average and the S & P 500 Index had the largest single-day percentage decline since the 1987 stock disaster. The Dow closed down about 2352 points, the largest drop in history.
The bad performance of the stock market quickly passed to the currency market. Beginning at 7 o'clock on the 13th, the price of bitcoin plunged from the position of $ 5,800 once again, dropping all the way, and successively fell below $ 5,000 and $ 4,000.
For the rapid decline of the market, many people in the industry believe that the main factor is not only the panic selling of the market, but also the mutual stepping on of contract investors. Weibo blogger "AlbertTheKing" pointed out that most of the long positions in Bitcoin leverage are in the BitMEX perpetual contract market. The long positions caused by the decline in bitcoin prices caused a series of short positions, which in turn caused arbitrage spreads and spot arbitrage. The party rushed in to open multiple orders and sell spot arbitrage at the same time, thinking it was okay. As a result, I did not expect Bitcoin to fall more and more fiercely, and his own arbitrage and long positions also burst. So at first, the leveraged bulls stepped down on each other, and later became the arbitrage party. .
"Fhrp" also pointed out that because BitMEX only has BTC margin, ETH's permanent liquidation also needs to be undertaken by btc. The profit portion of the hedge order cannot be included in the margin, and BTC is not sufficient because of the card being in serious shortage. The exploding warehouse order was opaque, so that no one dared to pick up the corpse later, fearing that it would become a corpse. Of course, the key is the lack of a fusing system, so that the market can slowly wait for liquidity to keep up.
Under the interweaving of many risks, the price of bitcoin is about 10:15. It has fallen below 3,800 US dollars in many exchanges such as Huobi and OKEx, which is 38% lower than the price of 0 on the day and 50.4% lower than 24 hours ago. This is the highest record in the 24-hour drop since the birth of Bitcoin.
Such a precise decline cannot be doubted as the bad taste of the bookmaker behind the exchange, if the bookmaker does exist. Of course, it is not excluded that this situation is due to the tacit understanding among the main market participants, or a purely natural phenomenon.
But judging from objective facts, there is indeed some evidence that the situation is unnatural. After bitcoin hit a low of $ 3,800, its price quickly rose in the next 20 minutes, rising by 59% to $ 5,250, but then fell rapidly. At the turning point of $ 3,800, which is 10:16, the BitMEX trading system, the largest bitcoin exchange in the cryptocurrency industry, suddenly stopped until 10:40.
It can be seen that the time point when the Bitcoin price stopped falling rapidly and stopped rising rapidly was close to the time point when BitMEX went down and returned to normal. This shows that BitMEX has a huge influence on the secondary market, and it also makes a lot of One suspects BitMEX is manipulating the market.
Sam Bankman-Fried, chief executive of Derivatives Exchange FTX, tweeted that he suspects BitMEX may have intentionally closed transactions to prevent further crashes and to avoid using exchange insurance funds. Mining company BitPico also tweeted yesterday, "According to our analysis, BitMEX Research has closed its long position of $ 993 million with its own robots and capital. Today the manipulation of the bitcoin market is caused by an entity and the investigation is ongoing. "
In response to this incident, BitMEX responded that there was a hardware problem with the cloud service provider, and in a subsequent announcement, it was pointed out that the DDoS attack was the real cause of the short-term downtime.
Why the downtime of the BitMEX trading system is difficult to verify, but from its objective impact, its short-term downtime plays a vital role in curbing the further decline in the price of cryptocurrencies such as Bitcoin, which has eased investment to a certain extent. The panic sentiment created by this has created space for the rebound and correction of cryptocurrency prices such as Bitcoin.
Sam Bankman-Fried even speculated that if BitMEX did not go offline because of a "hardware problem" this morning (February 13), the price of Bitcoin could fall to zero.
If compared with the traditional financial market, the effect of this BitMEX outage event is quite similar to the "fuse" mechanism of the stock market. Trading is suspended for dozens of minutes at the moment when investor sentiment is most panic, so this outage event Also aroused the emotions of many people in the industry.
"BitMEX has helped the currency circle" melt out, "otherwise the chainless stepping will not know where to fall. After the fuse, everyone calmed down and the market returned to normal. Weibo blogger "Blockchain William" posted a blog saying, "The market is not afraid of falling, and it is not afraid of stepping on it. That is why. This is why the global stock market has melted down because investors panic. It is a bottomless pit. Once out of control, there is no bottom Now. "
Of course, the factors that cause the market situation to reverse are not limited to this. According to the feedback from multiple users on social platforms, BitMEX and Binance's major exchanges forced the short positions of multiple accounts to close positions at 10 o'clock on March 13th, that is, the automatic lightening mechanism was in effect.
According to the BitMEX platform mechanism, when investor contracts are forced to close out, their remaining positions will be taken over by BitMEX's strong closing system. However, if a strong liquidation position cannot be closed in the market, and when the marked price reaches the bankruptcy price, the automatic lightening system will lighten the investor holding the position in the opposite direction, and the order of lightening is determined according to the leverage and profit ratio .
Specifically, due to the sharp fluctuations in the price of bitcoin, a large number of long single-series bursts and the scarcity of market liquidity. In order to control the risk, the platform will automatically place some short orders with high profit ratios and high leverage on the market, increasing market flow. It also avoids the risk to the platform caused by the inability of the short-selling order to be executed in a timely manner.
According to BitMEX's announcement, about 200 positions were automatically closed by the system. And Twitter blogger Edward Morra said, "On BitMEX alone, short positions worth about $ 500 million have been liquidated." If this data is true, it means that BitMEX's strong liquidation operation has brought more than 5 to the contract market. The market price of 100 million US dollars has a significant positive effect on the market that is being sold out.
However, as a compensation, BitMEX also stated that it would contact each damaged user and compensate them according to the maximum potential profit that the investor obtained during the automatic liquidation.
In any case, through the operation of exchanges such as BitMEX, the price of bitcoin has entered a recovery channel, and it is still hovering at the $ 5,000 mark, while driving the entire cryptocurrency market to pick up.
After this thrilling 24 hours of bitcoin, the ideal "halving market" has disappeared. The real and brutal "halving market" is coming. Perhaps many investors and investment institutions have expressed their confidence in the crypto assets represented by bitcoin. The understanding will change in this regard, and the confidence of the entire industry needs to be rebuilt. This depends on the application value of bitcoin to be deepened.
submitted by FmzQuant to u/FmzQuant [link] [comments]

2019 Cryptocurrency (Elliott Wave): Sell In May And Go Away?

05-APR-2019 Cryptocurrency (Elliott Wave): Bull Market…?
https://bitcointalk.org/index.php?topic=5128394.msg50467456#msg50467456
20-APR-2019 Cryptocurrency (Elliott Wave): Easter Update
https://bitcointalk.org/index.php?topic=5128394.msg50681435#msg50681435
12-MAY-2019 Cryptocurrency (Elliott Wave): Sell In May And Go Away?
https://bitcointalk.org/index.php?topic=5128394.msg51017295#msg51017295
17-JUN-2019 Cryptocurrency (Elliott Wave): Solstice Update
https://bitcointalk.org/index.php?topic=5128394.msg51505513#msg51505513
28-JUL-2019 Cryptocurrency (Elliott Wave): Inflection Point
https://bitcointalk.org/index.php?topic=5128394.msg51975328#msg51975328
26-OCT-2019 Cryptocurrency (Elliott Wave): Trick or Treat…?
https://bitcointalk.org/index.php?topic=5128394.msg52880531#msg52880531
24-NOV-2019 Cryptocurrency (Elliott Wave): Thanksgiving Update
https://bitcointalk.org/index.php?topic=5128394.msg53171045#msg53171045
24-DEC-2019 Cryptocurrency (Elliott Wave): Christmas Update
https://bitcointalk.org/index.php?topic=5128394.msg53430396#msg53430396
Since the orthodox bear market low on 06-FEB-2019, the Bitcoin markets have surged to an average 125% gain in approx 100 days approaching mid-MAY. The 3-month rally has now retraced a Fibonacci 23.6% of the entire 2018 bear market. True to form, the bull market has exerted itself in a parabolic rise.
From an Elliott Wave perspective, five waves appear to have completed as follows:
+ Wave-1: 24-FEB - Wave-2: 27-FEB + Wave-3: 23-APR - Wave-4: 25-APR + Wave-5: 12-MAY (?) 
Given the comparative magnitude and timeframe of the aforementioned waves, the waves are now being considered as MINOR degree. Barring any wave extensions, it appears five MINOR waves have completed, and thus completing the first INTERMEDIATE degree wave of the bull market. A wave of INTERMEDIATE degree usually elapses from weeks to months towards completion.
The expectation now suggests the first notable pullback of the bull market to imminently commence, unfolding in a three wave A-B-C structure. The following are averaged target zones for the pullback, using BITSTAMP prices:
@5400: approx 50% Fibonacci retracement of 06-FEB to 11-MAY rally (minimum expected decline zone). @4888: approx 61.8% Fibonacci retracement of 06-FEB to 11-MAY rally (average expected decline zone). @4155: approx 78.6% Fibonacci retracement of 06-FEB to 11-MAY rally (maximum expected decline zone). 
The first notable pullback of the 2015-2017 bull market retraced approx 78.6% in size, elapsing approx 6 months until late AUG-2015.
A decline to the 06-FEB low would terminate the proposed wave structure, and quite possibly the bull market.
Once the pullback completes, the third and most powerful wave of the 2019+ bull market ought to commence towards the psychological $10,000 level and beyond.
BITSTAMP Resistance Zones: 7510, 8500, 9440, 11395, 13350 BITSTAMP Support Zones: 7030, 6900, 6410, 5920, 5215, 4320 
Since 2016, both the stockmarket and Bitcoin markets have been in synchronisation: both started bull markets in 2016, both had bear markets in 2018, both resumed bull markets in 2019.
Seasonally, the “Sell In May And Go Away” adage is currently being expressed in the stockmarket.
Since the beginning of May, the Dow Jones has declined 4.50% —the largest decline since the 2019 bull market commenced.
Should the Bitcoin markets decline in MAY, a continued synchronisation may suggest further declines in the stockmarket.
A break below the 25-MAR low of 25,370 in the Dow Jones may suggest further declines, a break below the 11-MAR low of 25,200 would confirm a stockmarket pullback to be underway. If so, an approx 10% decline in the stockmarket towards Dow Jones 24,000 may be expected, followed by resumption of the bull market to new all-time highs. A rise above Dow Jones 26,500 ought to obviate the “Sell In May And Go Away” adage.
Analysis is speculative, and charts are indicative of price/structure —not time. The projections may occur sooner or later than anticipated, perhaps not at all…!
submitted by 12345abcde00001 to BitcoinMarkets [link] [comments]

For Trading Dec 27

For Trading December 27th
NASDAQ 9000 TSLA NEW ALL-TIME HIGH, again!
AMZN & RAD BIG MOVERS
Join Us Every Day, Link Below
Today’s market started off slowly and had a slow, steady climb to +81 by 11:30 followed by a quiet back and forth to make the intraday low of +36 by about 3:30 and a fast buying spree that took us to the new high of day and a close of +105.94 (.37%), NASDAQ +69.51 (.78%), S&P 500 +16.53 (.51%), the Russell -.34 (.02%), and the DJ Transports +35.05 (.32%). Market internals were positive with NYSE A/D 1.7:1 and NAZ 1.2:1. For the DOW we were 23 UP, 6 down and PG unchanged. There were only 3 double-digit moves with AAPL +38 DPs and V +10 while BA -21DPs.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights.
SECTORS: Other names in the news: We started with the story that QGEN was failed to find any acceptable offers after their strategic review and search for an appropriate suitor. The stock had declined from $41 last summer and then fell from $32 to $25 in October when it lowered guidance. The news that they were “reviewing options” took the stock back to a new high of $43.16 last month, but the current news dropped the stock to $30.23 before closing $32.91 -8.56 (20.64%).
RiteAid (RAD), also a major turnaround to actual earning that was reversed 1:20 in April had already worked its way from $5.02 in August to close last Wednesday $8.32, and blasted higher to close $11.84 +3.52 (42.31%). It continued higher again every day since and today finished $19.19 +3.05 (19.8%) and traded as high as $21.30 in extended hours. Besides the earnings last week, the stock was recommended by Zack’s this morning, but I think more important is the fact that there is a 26.6% short interest in the stock.
Amazon’s numbers were exceptional, and the company said it added 5 million new Prime customers, either with free trials and paid subscriptions. The numbers were topline only but the stock had an EXCEPTIONAL day +90.89 (5.08%).
One of last week’s winners, MBOT, which ran up from $5.00 to $20 on an FDA approval of a robotic device did what many small firms do when their stock takes off, they issue more shares. MBOT did a “direct offering at the market, and the stock took it on the chin, gapping down from $16.28 to $13.35 and finished the day $14.00 -2.28 (14%).
And, the Disaster Du Jour was Spectrum Pharma (SPPI), whose lung cancer trial didn’t make its expected endpoint. The stock has spent most of the year between $7.00 and $12, closed $7.75 Tuesday gapped down on the news and closed $3.50 -5.25 (60%).
BIOPHARMA: was LOWER with BIIB -2.28, ABBV +.05, REGN -1.65, ISRG-.78, MTL -.27, TEVA +.08, VRTX -.31, BHC -.04, INCY -2.64, ICPT -.83, LABU -2.10 and IBB $122.58 -.92 (.74%).
CANNABIS: stocks were LOWER with only 2 names higher; KERN, the compliance software stock +.97 (12.31%) and PYX +.39 (6.17%). MJ was $16.73 -.41 (2.39%). This may be a good group for January trades after tax-selling.
DEFENSE: was HIGHER with LMT +2.70, RTN +1.67, GD -.57, TXT +.01, UTX +1.14, NOC +.88, BWXT -.16, TDY +.85, and ITA $224.90 -.20 (.09%).
RETAIL was HIGHER with the stores, discounters and the brands all up. To me, this spells trouble coming since it would seem to me to be the big stores discounting and crushing their own margins, only to suffer again when they report earnings (or lack thereof). The XRT was $46.05 +.33 (.72%).
FAANG and Big Cap: were MIXED with GOOGL +19.57, AMZN (see above), AAPL +6.55 (2.3%), FB +3.07, NFLX -.55, NVDA +.88, TSLA +6.25, BABA +2.66, BIDU -.72, BOX +.01, IBM +.02, BA -2.75, CAT +.97, XLK $91.92 +.68 (.75%).
FINANCIALS were HIGHER with GS +1.61, JPM +1.52, BAC +.33, MS +.42, C +1.34, PNC + .73, AIG -.32, TRV +.46, AXP +.71 and XLF $30.85 +.17 (.55%).
OIL, $61.68 + .57. Today’s action was mostly another solid up day, with a nice upward bias. The stocks were HIGHER and XLE was $61.94 -.02 (.03%).
METALS, GOLD: $1,514.40 + 9.60 after breaking out “of the box” earlier in the week, and has moved higher, and is now approaching the resistance around the $1,520 to $1,525 range.
BITCOIN: closed $7250 + 15. We broke to the upside but ran into a brick wall just under $8,000. I was very disappointed to see the break, although we are right back to the lower Bollinger Band. After having a GTC order @ $9.85 since we sold on 11/5, we finally got filled on the first 350 shares. I added 400 GBTC at $8.06 bringing the average down to $8.99. GBTC closed $8.80 -.05 today.
Tomorrow is another day.
CAM
submitted by Dashover to swingtrading [link] [comments]

For Trading December 27th

For Trading December 27th
NASDAQ 9000 TSLA NEW ALL-TIME HIGH, again!
AMZN & RAD BIG MOVERS
Join Us Every Day, Link Below
Today’s market started off slowly and had a slow, steady climb to +81 by 11:30 followed by a quiet back and forth to make the intraday low of +36 by about 3:30 and a fast buying spree that took us to the new high of day and a close of +105.94 (.37%), NASDAQ +69.51 (.78%), S&P 500 +16.53 (.51%), the Russell -.34 (.02%), and the DJ Transports +35.05 (.32%). Market internals were positive with NYSE A/D 1.7:1 and NAZ 1.2:1. For the DOW we were 23 UP, 6 down and PG unchanged. There were only 3 double-digit moves with AAPL +38 DPs and V +10 while BA -21DPs.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights.
SECTORS: Other names in the news: We started with the story that QGEN was failed to find any acceptable offers after their strategic review and search for an appropriate suitor. The stock had declined from $41 last summer and then fell from $32 to $25 in October when it lowered guidance. The news that they were “reviewing options” took the stock back to a new high of $43.16 last month, but the current news dropped the stock to $30.23 before closing $32.91 -8.56 (20.64%).
RiteAid (RAD), also a major turnaround to actual earning that was reversed 1:20 in April had already worked its way from $5.02 in August to close last Wednesday $8.32, and blasted higher to close $11.84 +3.52 (42.31%). It continued higher again every day since and today finished $19.19 +3.05 (19.8%) and traded as high as $21.30 in extended hours. Besides the earnings last week, the stock was recommended by Zack’s this morning, but I think more important is the fact that there is a 26.6% short interest in the stock.
Amazon’s numbers were exceptional, and the company said it added 5 million new Prime customers, either with free trials and paid subscriptions. The numbers were topline only but the stock had an EXCEPTIONAL day +90.89 (5.08%).
One of last week’s winners, MBOT, which ran up from $5.00 to $20 on an FDA approval of a robotic device did what many small firms do when their stock takes off, they issue more shares. MBOT did a “direct offering at the market, and the stock took it on the chin, gapping down from $16.28 to $13.35 and finished the day $14.00 -2.28 (14%).
And, the Disaster Du Jour was Spectrum Pharma (SPPI), whose lung cancer trial didn’t make its expected endpoint. The stock has spent most of the year between $7.00 and $12, closed $7.75 Tuesday gapped down on the news and closed $3.50 -5.25 (60%).
BIOPHARMA: was LOWER with BIIB -2.28, ABBV +.05, REGN -1.65, ISRG-.78, MTL -.27, TEVA +.08, VRTX -.31, BHC -.04, INCY -2.64, ICPT -.83, LABU -2.10 and IBB $122.58 -.92 (.74%).
CANNABIS: stocks were LOWER with only 2 names higher; KERN, the compliance software stock +.97 (12.31%) and PYX +.39 (6.17%). MJ was $16.73 -.41 (2.39%). This may be a good group for January trades after tax-selling.
DEFENSE: was HIGHER with LMT +2.70, RTN +1.67, GD -.57, TXT +.01, UTX +1.14, NOC +.88, BWXT -.16, TDY +.85, and ITA $224.90 -.20 (.09%).
RETAIL was HIGHER with the stores, discounters and the brands all up. To me, this spells trouble coming since it would seem to me to be the big stores discounting and crushing their own margins, only to suffer again when they report earnings (or lack thereof). The XRT was $46.05 +.33 (.72%).
FAANG and Big Cap: were MIXED with GOOGL +19.57, AMZN (see above), AAPL +6.55 (2.3%), FB +3.07, NFLX -.55, NVDA +.88, TSLA +6.25, BABA +2.66, BIDU -.72, BOX +.01, IBM +.02, BA -2.75, CAT +.97, XLK $91.92 +.68 (.75%).
FINANCIALS were HIGHER with GS +1.61, JPM +1.52, BAC +.33, MS +.42, C +1.34, PNC + .73, AIG -.32, TRV +.46, AXP +.71 and XLF $30.85 +.17 (.55%).
OIL, $61.68 + .57. Today’s action was mostly another solid up day, with a nice upward bias. The stocks were HIGHER and XLE was $61.94 -.02 (.03%).
METALS, GOLD: $1,514.40 + 9.60 after breaking out “of the box” earlier in the week, and has moved higher, and is now approaching the resistance around the $1,520 to $1,525 range.
BITCOIN: closed $7250 + 15. We broke to the upside but ran into a brick wall just under $8,000. I was very disappointed to see the break, although we are right back to the lower Bollinger Band. After having a GTC order @ $9.85 since we sold on 11/5, we finally got filled on the first 350 shares. I added 400 GBTC at $8.06 bringing the average down to $8.99. GBTC closed $8.80 -.05 today.
Tomorrow is another day.
CAM
submitted by Dashover to optionstrading [link] [comments]

EXPERIMENT - Tracking Top 10 Cryptocurrencies for One Year (2018) - FINAL REPORT FOR 2018 - Down 85% - Stellar Victorious

EXPERIMENT - Tracking Top 10 Cryptocurrencies for One Year (2018) - FINAL REPORT FOR 2018 - Down 85% - Stellar Victorious
The end is here.
tl;dr - I am down -85% on my Top Ten crypto portfolio since the beginning of the year. My $1,000 investment on the 1st of January 2018 is now worth $151. Best performer of 2018 is Stellar, down -66%, worst performers down -94% and 4 out of 10 cryptos that started 2018 in the Top Ten have lost over 90% of their value.
Click here for full blog post complete with charts, graphs, and charts of graphs.

The Experiment:

Instead of hypothetically tracking cryptos throughout the year, I made an actual $1000 investment, $100 in each of the Top 10 cryptocurrencies by market cap as of the 1st of January 2018. It began as a lazy man's Index Fund (no weighting or rebalancing), but I've moved away from that terminology as things have changed quite a bit since January 1st, 2018 (plus the term "Index Fund" seems to bring out the shills trying to sell their own Crypto Index Fund product).
My experiment is less technical, more fun (for me at least), and hopefully still a proxy for the entire market- or at the very least an interesting snapshot of the 2018 crypto space. I'm trying to keep it simple and accessible for beginners and those looking to get into crypto but maybe not quite ready to jump in yet.

The Rules:

Buy $100 of each the Top 10 cryptocurrencies on January 1st, 2018. Run the experiment 365 days. Hold only. No selling. No trading. Report monthly.

MONTH/EPISODE TWELVE AND FINAL TALLY - Down 85% in 2018

https://preview.redd.it/d67ec8cg0t821.png?width=1187&format=png&auto=webp&s=da298dda0431a69ab560b2e8d6e3b15e0e7f9763
December was a quiet month for the experiment - not many fireworks to end the year. Although my portfolio did reach yet another record loss at -85%, it only ticked down one percentage point from the previous month. For comparison, the Dow Jones lost over -6% in December.
Finally tally for the year: I am now down -85% on my Top Ten crypto portfolio since the beginning of the year. My $1,000 investment on the 1st of January 2018 is now worth $151.
December Winners - It was a nice change to see a bit of green on my spreadsheet for the last month of the year. Winners: Ethereum and IOTAup an impressive 39% and 30% respectively. Litecoin ticked up 5% as well.
December Losers - Stellar had an uncharacteristically rough month, losing about 1/3 of its value in December. More predictably NEM, which has been a regular cellar-dweller for many of my monthly reports, fared poorly, down -15% in December.

FINAL RESULTS for 2018 – Stellar wins the experiment followed by Bitcoin. Cardano and Bitcoin Cash in virtual tie for worst performance of the year.

Even though Stellar had a rough December, it still ended the experiment solidly in first place followed fairly closely by Bitcoin. This is not a surprise to anyone who's been following the experiment - Stellar has been consistently one of the best performing cryptos each time I report.
Stellar's victory is definitely Pyrrhic, as "winning" 2018 meant losing -66% of its value since January 1st, 2018. Second place Bitcoin? Down -71% on the year.
If that's victory, what's defeat?
Defeat is Cardano and Bitcoin Cash, virtually tied at -94% on the year. For the record, Cardano did slightly worse: my $100 invested in Cardano is now worth $5.97 and my $100 invested in Bitcoin Cash $6.32.
Cardano and Bitcoin Cash are closely followed by NEM and Dash, and all four are members of the "Down Over -90% Club." IOTA's strong December helped it narrowly avoid this distinction as it is now down "only" -89% for the year.
Summary: best performer of 2018 is down -66%, worst performers down -94% and 4 out of 10 cryptos that started 2018 in the Top Ten have lost over 90% of their value.
I'll just let that sink in for a while.
In terms of movement, there was a lot of it: 40% of the cryptos that started the year in the Top Ten have now dropped out. Here's a chart:
https://preview.redd.it/5p04wxbm0t821.png?width=328&format=png&auto=webp&s=8ddfb3a4f46aa196e56e3b93d4968bc91400900b
Interestingly, the Top Four ended up in the same top positions after 365 days.
On the other hand, NEM, Dash, IOTA, and Cardano are Top Ten dropouts - they have been replaced by EOS (now at #5), Tether (currently at #8), Bitcoin SV (currently at #9), and Tron (currently at #10).

Total Market Cap for the entire cryptocurrency sector:

https://preview.redd.it/clzti39p0t821.png?width=439&format=png&auto=webp&s=13bcd89a9dc2ace72a95edcd6669295aec589c72
December was basically flat, as the total market cap for crypto hovered right around $130B. A nice little pause from four consecutive record low month-end points since the end of August.
Final figure: the total market cap for crypto dropped -77% in 2018.
Looking back, March was the worst month of the year in terms of both overall amount and percentage loss. Best month-end figure was end of January at $485B.
  • The last time the total market cap of crypto was at $500B: January
  • The last time the total market cap of crypto was at $400B: May
  • The last time the total market cap of crypto was at $300B: June
  • The last time the total market cap of crypto was at $200B: November

Bitcoin dominance:

https://preview.redd.it/1xfbsjas0t821.png?width=290&format=png&auto=webp&s=3c2f8bc82402dec6bda2046b62e5da0a3794b273
Bitcoin dominance dropped slightly from the month-end record highs at the end of October and November, but it's basically been holding steady since the end of August, right around the 50% mark. Too early to tell if the slight drop from 53% to 51% Bitcoin dominance from November to December indicates that buyers are looking at more risky alt-coins, we'll have to wait a bit to see if/how that plays out.
As we've seen this throughout the experiment, when the overall market dives, BTC's dominance increases.
  • 33% Bitcoin dominance at the end of January was the lowest month-end point of the year
  • 53.6% Bitcoin dominance at the end of October was the highest month-end point of the year

Overall return on investment from January 1st, 2018:

https://preview.redd.it/vbhh3chw0t821.png?width=281&format=png&auto=webp&s=36430e9b960efc60de2fa286a2265b816cbc0560
If I wrapped up my experiment and cashed out today, my $1000 initial investment would return $151.81, down -85%.
  • Lowest Top Ten portfolio value: December
  • Highest Top Ten portfolio value: January

Implications/Observations:

The numbers back up what all who were even remotely paying attention to crypto this year noticed: 2018 was not 2017. Beginning 2018 at all time highs put this experiment in a difficult position from the start and I was never able to come close to just breaking even - my "best" month was end of January where I was "only" down -20%.
That said, buying mid-January when prices were even higher would have been worse - hard to imagine considering my Top Ten buys on New Years Day have seen a -85% drop - but yes, it could have been even worse.
Congratulations to Stellar who outperformed its peers in 2018 and was consistently among the monthly top performers.
Focusing solely on holding the Top Ten was a losing strategy. While the overall market is down -77% from January, the cryptos that began 2018 in the Top Ten are down -85% over the same period of time. At no point in the experiment has this investment strategy worked: the initial Top Ten continue to under-perform compared to the market overall. The 8% difference is significant, but it has shrunk a bit - it was as wide as a 12% difference at one point during the year (September).
I also tracked the S&P 500 as part of my experiment to have a comparison point with other popular investments options. After a relatively strong year, the S & P 500 tanked in December, finishing down -6.2% on the year. Had I redirected my $1k investment to the S&P, I would have lost about -$62 on the year.
https://preview.redd.it/mxk3jehy0t821.png?width=384&format=png&auto=webp&s=116d5e2f23d8b3255cb5eea1a75655ea9091bcba

Conclusion:

Tough year for crypto, to say the least. The year end question is the same one we've been asking all year: is there more room to fall or have we finally hit the bottom for crypto?

Thanks and Future of the Experiment:

Thanks for reading and the support for the experiment. I hope you’ve found it helpful.
As for the future of the experiment, after receiving some good suggestions, I've decided to do the following:
  1. There's no way I'm selling now at such a loss. Therefore, I'll continue to hold and will report on the Top Ten cryptos of 2018 as I've been doing.
  2. I've also decided to repeat the experiment with the Top Ten cryptos of 2019. On the 1st of January 2019, I purchased $100 worth of the Top Ten: Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Tether, Litecoin, Bitcoin SV, and Tron.
I honestly wasn't very enthusiastic to buy $100 worth of some of these coins, but I think it will be interesting to compare the Top Ten of 2018 with the Top Ten of 2019 to see how they fare. I'll share the results regularly - I'm aiming for monthly, as I did in 2018.
So - I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports.
submitted by Joe-M-4 to CryptoCurrency [link] [comments]

Stellar Victorious - EXPERIMENT - Tracking Top 10 Cryptocurrencies for One Year (2018) - FINAL REPORT FOR 2018 - Down 85%

Stellar Victorious - EXPERIMENT - Tracking Top 10 Cryptocurrencies for One Year (2018) - FINAL REPORT FOR 2018 - Down 85%
The end is here.
tl;dr - I am down -85% on my Top Ten crypto portfolio since the beginning of the year. My $1,000 investment on the 1st of January 2018 is now worth $151. Best performer of 2018 is Stellar, down -66%, worst performers down -94% and 4 out of 10 cryptos that started 2018 in the Top Ten have lost over 90% of their value.
Click here for full blog post complete with charts, graphs, and charts of graphs.

The Experiment:

Instead of hypothetically tracking cryptos throughout the year, I made an actual $1000 investment, $100 in each of the Top 10 cryptocurrencies by market cap as of the 1st of January 2018. It began as a lazy man's Index Fund (no weighting or rebalancing), but I've moved away from that terminology as things have changed quite a bit since January 1st, 2018 (plus the term "Index Fund" seems to bring out the shills trying to sell their own Crypto Index Fund product).
My experiment is less technical, more fun (for me at least), and hopefully still a proxy for the entire market- or at the very least an interesting snapshot of the 2018 crypto space. I'm trying to keep it simple and accessible for beginners and those looking to get into crypto but maybe not quite ready to jump in yet.

The Rules:

Buy $100 of each the Top 10 cryptocurrencies on January 1st, 2018. Run the experiment 365 days. Hold only. No selling. No trading. Report monthly.

MONTH/EPISODE TWELVE AND FINAL TALLY - Down 85% in 2018

https://preview.redd.it/jx4d8u662t821.png?width=1187&format=png&auto=webp&s=5a6cbd527492057f939c39f55c0697c454aa3847
December was a quiet month for the experiment - not many fireworks to end the year. Although my portfolio did reach yet another record loss at -85%, it only ticked down one percentage point from the previous month. For comparison, the Dow Jones lost over -6% in December.
Finally tally for the year: I am now down -85% on my Top Ten crypto portfolio since the beginning of the year. My $1,000 investment on the 1st of January 2018 is now worth $151.
December Winners - It was a nice change to see a bit of green on my spreadsheet for the last month of the year. Winners: Ethereum and IOTAup an impressive 39% and 30% respectively. Litecoin ticked up 5% as well.
December Losers - Stellar had an uncharacteristically rough month, losing about 1/3 of its value in December. More predictably NEM, which has been a regular cellar-dweller for many of my monthly reports, fared poorly, down -15% in December.

FINAL RESULTS for 2018 – Stellar wins the experiment followed by Bitcoin. Cardano and Bitcoin Cash in virtual tie for worst performance of the year.

Even though Stellar had a rough December, it still ended the experiment solidly in first place followed fairly closely by Bitcoin. This is not a surprise to anyone who's been following the experiment - Stellar has been consistently one of the best performing cryptos each time I report.
Stellar's victory is definitely Pyrrhic, as "winning" 2018 meant losing -66% of its value since January 1st, 2018. Second place Bitcoin? Down -71% on the year.
If that's victory, what's defeat?
Defeat is Cardano and Bitcoin Cash, virtually tied at -94% on the year. For the record, Cardano did slightly worse: my $100 invested in Cardano is now worth $5.97 and my $100 invested in Bitcoin Cash $6.32.
Cardano and Bitcoin Cash are closely followed by NEM and Dash, and all four are members of the "Down Over -90% Club." IOTA's strong December helped it narrowly avoid this distinction as it is now down "only" -89% for the year.
Summary: best performer of 2018 is down -66%, worst performers down -94% and 4 out of 10 cryptos that started 2018 in the Top Ten have lost over 90% of their value.
I'll just let that sink in for a while.
In terms of movement, there was a lot of it: 40% of the cryptos that started the year in the Top Ten have now dropped out. Here's a chart:
https://preview.redd.it/zvlgkpd72t821.png?width=328&format=png&auto=webp&s=9d58ec97bfb3c4b742adc30d1244695fbeaf5f64
Interestingly, the Top Four ended up in the same top positions after 365 days.
On the other hand, NEM, Dash, IOTA, and Cardano are Top Ten dropouts - they have been replaced by EOS (now at #5), Tether (currently at #8), Bitcoin SV (currently at #9), and Tron (currently at #10).

Total Market Cap for the entire cryptocurrency sector:

https://preview.redd.it/8w75j6f82t821.png?width=439&format=png&auto=webp&s=c27789f5c6dd3e946bf5c8e29bf285db300c9b41
December was basically flat, as the total market cap for crypto hovered right around $130B. A nice little pause from four consecutive record low month-end points since the end of August.
Final figure: the total market cap for crypto dropped -77% in 2018.
Looking back, March was the worst month of the year in terms of both overall amount and percentage loss. Best month-end figure was end of January at $485B.
  • The last time the total market cap of crypto was at $500B: January
  • The last time the total market cap of crypto was at $400B: May
  • The last time the total market cap of crypto was at $300B: June
  • The last time the total market cap of crypto was at $200B: November

Bitcoin dominance:

https://preview.redd.it/jptpvni92t821.png?width=290&format=png&auto=webp&s=43070ae9fe03aaf451589758825cdc1528432fb6
Bitcoin dominance dropped slightly from the month-end record highs at the end of October and November, but it's basically been holding steady since the end of August, right around the 50% mark. Too early to tell if the slight drop from 53% to 51% Bitcoin dominance from November to December indicates that buyers are looking at more risky alt-coins, we'll have to wait a bit to see if/how that plays out.
As we've seen this throughout the experiment, when the overall market dives, BTC's dominance increases.
  • 33% Bitcoin dominance at the end of January was the lowest month-end point of the year
  • 53.6% Bitcoin dominance at the end of October was the highest month-end point of the year

Overall return on investment from January 1st, 2018:

https://preview.redd.it/rcxjkfra2t821.png?width=281&format=png&auto=webp&s=93cdceaeff7fe5b9c7ab5aa04fdc3f1a6f03d1bf
If I wrapped up my experiment and cashed out today, my $1000 initial investment would return $151.81, down -85%.
  • Lowest Top Ten portfolio value: December
  • Highest Top Ten portfolio value: January

Implications/Observations:

The numbers back up what all who were even remotely paying attention to crypto this year noticed: 2018 was not 2017. Beginning 2018 at all time highs put this experiment in a difficult position from the start and I was never able to come close to just breaking even - my "best" month was end of January where I was "only" down -20%.
That said, buying mid-January when prices were even higher would have been worse - hard to imagine considering my Top Ten buys on New Years Day have seen a -85% drop - but yes, it could have been even worse.
Congratulations to Stellar who outperformed its peers in 2018 and was consistently among the monthly top performers.
Focusing solely on holding the Top Ten was a losing strategy. While the overall market is down -77% from January, the cryptos that began 2018 in the Top Ten are down -85% over the same period of time. At no point in the experiment has this investment strategy worked: the initial Top Ten continue to under-perform compared to the market overall. The 8% difference is significant, but it has shrunk a bit - it was as wide as a 12% difference at one point during the year (September).
I also tracked the S&P 500 as part of my experiment to have a comparison point with other popular investments options. After a relatively strong year, the S & P 500 tanked in December, finishing down -6.2% on the year. Had I redirected my $1k investment to the S&P, I would have lost about -$62 on the year.
https://preview.redd.it/cvtvzrvb2t821.png?width=384&format=png&auto=webp&s=dc50928366796b4a48812034e2a7b1fff5997652

Conclusion:

Tough year for crypto, to say the least. The year end question is the same one we've been asking all year: is there more room to fall or have we finally hit the bottom for crypto?

Thanks and Future of the Experiment:

Thanks for reading and the support for the experiment. I hope you’ve found it helpful.
As for the future of the experiment, after receiving some good suggestions, I've decided to do the following:
  1. There's no way I'm selling now at such a loss. Therefore, I'll continue to hold and will report on the Top Ten cryptos of 2018 as I've been doing.
  2. I've also decided to repeat the experiment with the Top Ten cryptos of 2019. On the 1st of January 2019, I purchased $100 worth of the Top Ten: Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Tether, Litecoin, Bitcoin SV, and Tron.
I honestly wasn't very enthusiastic to buy $100 worth of some of these coins, but I think it will be interesting to compare the Top Ten of 2018 with the Top Ten of 2019 to see how they fare. I'll share the results regularly - I'm aiming for monthly, as I did in 2018.
So - I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports.
submitted by Joe-M-4 to Stellar [link] [comments]

Gold, Not Bitcoin, Is Drawing Haven Demand on US Recession Fears

Gold, Not Bitcoin, Is Drawing Haven Demand on US Recession Fears


Fears of a U.S. recession have resurfaced over the last two days and the resulting risk aversion is bringing a boost to gold. For bitcoin, though, it’s a different story.
The U.S. Institute of Supply Management said Tuesday its manufacturing index fell to a 10-year low of 47.8 percent last month from 49.1 percent in August. A below-50 reading indicates contraction in manufacturing activity.
The gloomy data suggests a boosted risk of a recession in 2020, as seen in the chart below tweeted by popular analyst Holger Zschaepitz.

  • The probability of the U.S. economy falling into a recession next year is now greater than 40 percent.
  • The Treasury yield curve (U.S. bonds) is pricing in a 60 percent chance of recession, according to the JPMorgan data.
The threat of a recession has sent global equities lower. Notably, the Dow Jones Industrial Average plummeted more than 450 points in day two of a sell-off.
Meanwhile, gold has risen from $1,460 to $1,500 per ounce in the last 48 hours and is now looking to extend gains. The yellow metal, a classic safe haven asset, is clearly benefiting from the recession concerns and the resulting risk aversion.
Bitcoin, however, has been largely trapped in a $8,200–$8,500 range since Tuesday. In fact, the top cryptocurrency’s bounce from recent lows near $7,700 has run out of steam near the 200-day moving average (MA) resistance at $8,483 over the last 48 hours.
The lack of demand for bitcoin as a safe haven asset amid the economic worries appears to contradict the argument often put forward by many observers that the cryptocurrency is digital gold.
Many investors also consider BTC as a store of value and a hedge against the aggressive expansionary monetary policies adopted by the major central banks. The odds of Federal Reserve delivering 2019’s third interest rate cut in October have gone up from 40 to 64 percent over the last two days, according to CME’s FedWatch tool.
Even so, BTC is struggling to find bids. In fact, the cryptocurrency fell from $10,000 to $8,000 in September despite the European Central Bank’s decision to cut rates by 10 basis points to -0.50 percent.
These factors suggest BTC is yet to take over the role of a classic safe haven and remains a largely uncorrelated asset.
The situation may change in the future, though, if traditional investor participation in the cryptocurrency market increases. After all, BTC seems to have all the properties of haven assets. For instance, it is not linked to government currencies and is deflationary in nature, which gives it an innate value, like rare metals, as noted by Reuters.
As for the next 24 hours, the probability of BTC falling below $8,000 is high, as per the technical charts.

Daily and 4-hour charts


On Tuesday, bitcoin created a doji candle — a sign of indecision — at the 200-day moving average, aborting the corrective bounce from recent lows near $7,700.
A convincing move above the 200-day MA, currently at $8,483, would invite stronger buying pressure, as discussed earlier this week.
A break above the key average looks unlikely, however, as the 4-hour chart (above right) is reporting a failed double bottom breakout — Tuesday’s move above the trendline was short-lived. The failed breakout indicates the sentiment is still quite bearish and validates the price-negative readings on the longer duration indicators.
The 4-hour chart relative strength index has fallen back below 50, indicating bearish conditions. As a result, a fall back to levels below $8,000 looks likely.
If the 200-day MA is breached, a quick move to$8,900 could be seen, as the daily chart MACD histogram is producing higher lows — a sign of weakening bearish momentum.
Overall, the outlook will remain bearish as long as prices are trading below $9,097.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoin image via CoinDesk Archives; charts by Trading View
submitted by GTE_IO to u/GTE_IO [link] [comments]

r/Bitcoin recap - October 2018

Hi Bitcoiners!
I’m back with the 22nd monthly Bitcoin news recap. I Hope you like the new, categorized format!
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in October 2018
Adoption
SegWit adoption rises to over 50% (4 Oct)
A large bus company in Europe accepts bitcoin (4 Oct)
A holiday home in Germany accepts bitcoin (4 Oct)
A coffee shop in Bern, Switzerland accepts Lightning Network payments (5 Oct)
A shop at Brisbane airport accepts bitcoin (7 Oct)
An exchange in Latin America adds Lightning Network payments (12 Oct)
Some Venezuelans have turned to cryptocurrency and gaming currencies to make money (13 Oct)
Mycelium wallet will finally support SegWit (16 Oct)
Australia Post helps Bitcoin adoption through its digital identity service (24 Oct)
Blockchain.com still hasn’t implemented SegWit 1.5 years after their promise (25 Oct)
The Lightning network is now at 12500 open channels (26 Oct)
A bar in Mexico City accepts bitcoin payments (28 Oct)
Development
A BTCPay server can now be deployed in 1 minute (2 Oct)
Bitcoin Core 0.17.0 is now available for download (3 Oct)
Electrum will get a Lightning Network integration (3 Oct)
Scaling Bitcoin Tokyo slides and presentations (5 Oct)
People discuss building on the Lightning Network at an upcoming event (11 Oct)
A Lightning Network-powered E-bike (14 Oct)
Bulletproofs were implemented in Monero resulting in a huge boost in scalability (20 Oct)
Watchtowers were merged into LND (25 Oct)
Wasabi Wallet 1.0 is released! (31 Oct)
Security
A discussion on “out of the box” Bitcoin nodes (20 Oct)
A warning about a “dusting attack” on wallets to deanonymise people (25 Oct)
Mining
By 2032 99% of all bitcoins will have been mined (6 Oct)
Bitmain’s new firmware is causing problems (22 Oct)
Antpool stops including transactions that use SegWit (29 Oct)
Business
The inventor of the World Wide Web launches a platform to redecentralize the Internet (1 Oct)
Coinbase added 5M users in ~6 months (3 Oct)
Yale University will reportedly invest $400M in a cryptocurrency fund (7 Oct)
An interview with the CEO of Bitrefill on their Lightning Network experiences (9 Oct)
The Liquid Network is officially launched as a Bitcoin sidechain (10 Oct)
Fidelity launches a digital asset service (15 Oct)
Goldman Sachs plans to use Bakkt’s cryptocurrency custody service (18 Oct)
Ledger reveals it sold 1.3M hardware wallets (18 Oct)
Goldman Sachs invests in cold storage solution provider BitGo (18 Oct)
Shapeshift’s KYC is now in place (19 Oct)
Coinbase and Circle announce the USDC stable coin (23 Oct)
An investigation finds that some crypto media outlets don’t disclose paid promotional content (25 Oct)
Research
A high-resolution Lightning Network overview (2 Oct)
Education
A guide on how to accept bitcoin using BTCPay server (14 Oct)
An explainer of Neutrino for the Lightning Network (17 Oct)
Bitcoin is the invention of digital scarcity (28 Oct)
10 years ago Satoshi Nakamoto published the Bitcoin Whitepaper to a mailing list (31 Oct)
Regulation & Politics
Scalability discussion at a Senate hearing in the US (12 Oct)
Japan grants cryptocurrency industry self-regulatory status (24 Oct)
Chinese court says it is legal to own and transfer bitcoin (26 Oct)
China’s merchants are legally allowed to accept bitcoin (27 Oct)
A US Presidential candidate wants to exempt cryptocurrencies from capital gains tax (30 Oct)
Archeology (Financial Incumbents)
Anti-cryptocurrency propaganda promoted by American Express (16 Oct)
Many of the banks calling bitcoin a money laundering tool are caught money laundering themselves (19 Oct)
Mastercard files patent for bitcoin transactions on credit cards (26 Oct)
The Visa CEO says cryptocurrency is not a big threat but they will support it if needed (27 Oct)
Banks asking you for the reason for payments is why we need bitcoin (28 Oct)
Price & Trading
Analysis on the activity of ‘whales’ in the bitcoin market (10 Oct)
Bitcoin has been less volatile than Nasdaq, Dow and S&P 500 (24 Oct)
Fun & Other
People discuss the quality of some largely upvoted posts on Bitcoin (7 Oct)
People try to make clear that Bitcoin has no CEO (8 Oct)
An easter egg in the Bitcoin genesis block (12 Oct)
A bitcoin ATM operator gets money back from the police who confiscated it (13 Oct)
eToro creates a cryptocurrency ad with Game of Thrones star (17 Oct)
$194M was moved using bitcoin with a $0.1 fee (19 Oct)
Why Bitcoin and Cryptocurrency have no future (21 Oct)
Elon Musk’s Twitter gets blocked when talking about Bitcoin upon suspicion of being hacked (23 Oct)
Apple co-founder Steve Wozniak plans to travel somewhere using only bitcoin (26 Oct)
A Halloween gift with claimable bitcoin (29 Oct)
Someone gifts $20 of Bitcoin to Janet Yellen’s public email after she makes negative statements on stage (30 Oct)
Bitcoin receives a lot of bad press based on a poorly researched report (30 Oct)
See you all next month! ✌️ Try to do something good for Bitcoin!
submitted by SamWouters to Bitcoin [link] [comments]

Bitcoin Breaking All-Time-Highs as War on Cash Escalates Worldwide - Dave Scotese Interview Bitcoin Breaks ALL TIME HIGH - Live Look Bitcoin's Gold Correlation BREAKS ALL TIME HIGH!! 📈 - YouTube Fed's Balance Sheet Breaks All Time high, Bitcoin Breaks ... BREAKING: BITCOIN NEW ALL TIME HIGH COMING! - YouTube

Bitcoin, the crypto industry’s top-performing asset made another move above $12,000 levels, in contrast to the rest of the crypto market, which remains relatively calm. Bitcoin’s price surged ... Market Extra Bitcoin breaks above $7,300 to set fresh all-time high, then pares gain Published: Nov. 2, 2017 at 10:00 a.m. ET Bitcoin Price May Not Set a New High For Years To Come. According to data from the last bear market cycle, Bitcoin price took 1,170 days in between setting each new all-time high. If BTC follows a similar pattern and timeframe, it could be nearly another full year before the asset breaks its former record and sets a new high. The Bitcoin price hit a new all-time high Friday, breaking $6,000 for the first time on all the major cryptocurrency exchanges. As of 4 p.m. Friday, Bitcoin was up about 7% over a 24-hour period ... Bitcoin’s rise in value in 2017 is unprecedented. It started from below $1,000 on January 1 and is now up more than 12-fold for the year. The cryptocurrency has been growing at a dizzying pace over the past month, having almost doubled in price since November 1.

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Bitcoin Breaking All-Time-Highs as War on Cash Escalates Worldwide - Dave Scotese Interview

SUBSCRIBE!!! (plz) 🙏 🌐 Crypto Articles, Resources, & Discussion https://Cryptokek.com 🌐 💬 Join Discord Chat https://discord.gg/Y6VKH7e ... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Remove all; Disconnect; The next video is starting stop stop BITCOIN TODAY: In this video, I'll go through the Bitcoin news today & I'll make a Bitcoin price analysis. The BTC news & analysis can be inspiration for you... Today the price broke it's all-time-high in China and is fast approaching the same in US Dollars, not reached since late 2013 over 3 years ago. People are losing faith worldwide in fiat currencies ...

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