Connect with us
  • Start here
  • Bitcoin Charts & More
  • Submit PR
CLOSE

Analysis

Bitcoin Surges By More Than 12 Percent After The Bakkt Delay

Published

on

bitcoin avoids

The latest bitcoin news seems to be the rising of the number one coin by more than 12 percent jumping from $4,000 to $4,477 breaching the support level.

Despite falling again slightly, on every major crypto exchange such as Coinbase and Kraken, Bitcoin dropped as low as $4,020 but quickly recovered to $4,200. Eventually, it rebounded to $4,500 region.

Yesterday, November 20, ICE released a statement where they announced that they would delay the launch of the much-anticipated Bitcoin futures product until January 24th, 2019. In the official document by ICE, you can see they stated that institutions need more time to clear the market before opening the futures market.

A segment of the document reads:

 “ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval, new listing timeframe will provide additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract.”

Rumors emerged that this decision could potentially cause the BTC price to drop since large-scale investors first got the information and possibly have the power to influence the entire market. Others claim that this is a good opportunity to accumulate more of Bitcoin.

Analysts argue that this is not such a scary and problematic drop. Since Bitcoin’s all-time high, Bitcoin is down by 80 percent if not less and even If it goes below $4,000 it’s still the fifth biggest correction that ever happened.  Bitcoin is likely to test the $4,000 support level in the many days to come but a drop below that point can only happen if the sell volume intensifies.

Share This With Your Friends

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Continue Reading
Comments

Analysis

Bitcoin Avoids Posting Seven Consecutive Red Daily Candles

Published

on

By

bitcoin avoids
Bitcoin managed to rally again - but that doesn't change the fact that Bitcoin avoids posting seven consecutive red daily candles. This happens for the sixth time ever. But what does this mean. Well, as many best cryptocurrency news sites showed, the last time BTC posted seven red daily candles in a row was the start of August last year. From July 29 to August 4 last year, BTC fell 15% from around $8,240 to $7,000. As it followed the streak of red daily candles, the following week failed to produce a recovery and the prices slid a further 15% before Bitcoin found its support at $6,00 back then. To compare with, the start of September 2017 was also a period when BTC posted a full week of bearish daily candles after failing to hold above $4,500 after testing $5,000 for the first time. Then, BTC fell 30% over seven days and plummeted from $4,600 (September 8, 2017) to $3,200 (September 14, 2017). It is similar to now, when Bitcoin avoids posting seven consecutive red daily candles. However, after that (in 2017), Bitcoin began producing a bullish recovery and broke to new all-time highs one month later. This is why analysts on many Bitcoin and altcoin news sites are now wondering if BTC can perform in the same way. Another comparison from 2016 shows that at the start of that year, BTC posted eight consecutive days of bearish price action for the second time in the market's history. This run saw BTC falling 21.8% from $460 (January 8, 2016) to $360 (January 15, 2016). The move proceeded with months of sideways consolidation with an approximately 20% range. Before that, in 2014, BTC shed approximately 10% after seven days of red daily candles - followed by two weeks of sideways consolidation before a break-down of support led to an approximately two-month bear channel. So, again, what does this all mean? Well, the latest cryptocurrency news show that Bitcoin (BTC) may rise further. Even though Bitcoin avoids posting consecutive red candles, it managed to surge by 3% overnight and is now at $10,200 which is its price point from a couple of days ago. So, Bitcoin is strong and its dominance is again at 67.6%. According to analysts, the price of BTC may surge further and the consolidation is strong. The momentum in which Bitcoin is right now, along with the market cap which rose to $270 billion and the daily volume of $65 billion ($17 billion of which was traded on BTC) are other significant factors which may drive the price of Bitcoin further upwards.
`
Continue Reading

Analysis

Crypto Could Become ‘The Next Frontier’ In The War On Terrorism: US Treasury

Published

on

By

Crypto Could Become
The United States Treasury undersecretary was recently featured on many best cryptocurrency news sites for his impressive comments and stance towards cryptocurrencies. According to Sigal Mandelker, crypto could become an essential part of the battle against terrorism - and non-compliant fintechs won't survive the war on terror. As a press release published on the US Treasury website on September 11 notes, Mandelker made her remarks during the 19th annual international conference on counterterrorism. She admitted that most of the terrorist organizations still rely on various traditional means of financing such as cash. However, she also said that crypto could become "the next frontier" in the war on terrorism, stating:
“Terrorist organizations and their supporters and sympathizers are constantly looking for new ways to raise and transfer funds without detection or tracking by law enforcement.  While most terrorist groups still primarily rely on the traditional financial system and cash to transfer funds, without the appropriate strong safeguards cryptocurrencies could become the next frontier.”
The US Treasury undersecretary was also featured in the latest cryptocurrency news for her statement about the militant organization Hamas which asked for Bitcoin (BTC) donations via social media - and received more than $10,000 from two addresses.
“While this may not seem like a lot of money, a FinCEN analysis found remittances linked to terrorism averaged less than $600 per transaction.  As we know, the cost of carrying out a terrorist attack can be very low. But the human costs to victims is always extraordinarily high,” Mandelker said.
According to her, crypto could become a big part of this war. Specifically, she pointed out that cryptocurrencies are major developments in the field of value transmission, all of which requiring "a tremendous amount of energy and expertise" as she said.
“Absent appropriate safeguards to keep our nations and our communities safe from terrorists, rogue regimes, and others who threaten us, the U.S. will work with governments around the world to make sure that non-compliant networks and fintechs do not survive," Mandelker added.
She also summed up with a statement featured in the altcoin news - which directly contradicts the declarations made by the US congressman Patrick McHenry who said that any attempts to stop Bitcoin are futile. However, the US Treasury undersecretary concluded with the following statement:
“The world that Satoshi Nakamoto, author of the Bitcoin whitepaper envisioned, and others are building, is an unstoppable force.”
`
Continue Reading

Analysis

Bitcoin Inches A Bit Lower, But $10,800 Target Remains

Published

on

By

Bitcoin Inches
The most dominant cryptocurrency and the aggregated crypto markets have been facing a period of consolidation after they posted a decent sized rally earlier this week. It seems that Bitcoin inches a bit lower every day, even though the target at $10,800 remains. This target is also BTC's main level of resistance. According to one analyst, the inability to validate a bearish rising wedge that BTC is currently trading within could spell big trouble for the major cryptocurrency in the near term. Bitcoin is trading at $10,347 as we speak which marks a slight positive influx of 0.15% on the day. Ever since BTC bounced from its support level at $10,000, the market is in a positive momentum and the most dominant cryptocurrency has been facing a bout of consolidation. As Bitcoin inches a bit lower than the $10,500 levels, it is featured on many best cryptocurrency news sites as the cryptocurrency which has the most potential right now. Analysts have confirmed this, too. According to the Cryptomist, the fact that Bitcoin inches lower does not matter - BTC is actually caught within a rising wedge which could spell trouble for the near-term price action. As she said:
“$BTC: Short and simple analysis… Rising wedge. One final touch approx 10.4k – Looking at target approx 10k.”
If the pattern does have bullish implications for BTC as the most dominant cryptocurrency, $10,000 will likely be a key support level which analysts closely watch. Any break below this level could spell trouble for its mid-term price action. The latest cryptocurrency news show that BTC may still target $10,800. Although BTC found some resistance in the mid-$10,400 range, its nearest major resistance level currently exists at roughly $10,800. A break above this price level could spark a massive upwards movement. Chonis Trading, who is another popular analyst in the Bitcoin and altcoin news, recently spoke about how Bitcoin inches lower, explaining that a decisive break above the $10,800 price level would be notable.
“$BTC – yesterday’s Bullish move closed right under the MA50, breaking thought puts the next notable #bitcoin resistance around $10,800+ area…if it can break that is,” he said.
https://twitter.com/BigChonis/status/1172328397348864002 For now, the most dominant cryptocurrency is in a good position, with a dominance of 70.3% and a nice daily trading volume.  
`
Continue Reading

Analysis

Coinbase May Announce An IEO Platform, Explores STOs Too

Published

on

By

Coinbase May Announce
The leading cryptocurrency exchange based out of the United States named Coinbase may announce its own initial exchange offering (IEO) platform soon. Security token offerings (STOs) are also in the radar of the exchange, the latest cryptocurrency news confirm. As the head of institutional sales of Coinbase in Asia named Kayvon Pirestani noted during CoinDesk's Invest Asia conference:
"Coinbase is carefully exploring not only the IEO space but also STOs [security token offerings]. The company may soon issue a proprietary exchange token."
However, even though the report outlined that Coinbase may announce an IEO platform - it did not elaborate on the complete plans any further. As we can see for now, a lot of crypto exchanges are already offering their own IEO platforms. These include the names of Binance, OKEx, Bittrex, Huobi, Bitfinex and others. For those of you who don't follow our coming altcoin news, IEOs were sold as a safer way of investing in new blockchain projects. As reported earlier on our site, the short-term trends indicate moves away from IEOs - but longer term data indicates that the success of IEOs has been steadily growing overall since the term "IEO" became a buzzword at the start of this year. Still, there are discrepancies in reporting on IEO data. Despite the fact that Coinbase may announce an IEO platform soon, the number of total IEOs has collapsed - going from $1.1 billion in May this year to $125 million in June this year, according to TokenInsight. Other statistical pieces of data from TradeBlock which were cited in the Wall Street Journal show that IEOs raised $518 million in five months to the end of May. More importantly, their January total was around $10 million - something which increased to about $20 million in February and over $110 million in March, more than $220 million in April and around $150 million in May. Finally, CoinGecko's analysis was also in the altcoin news. In its official Q2 release, the company stated that IEOs raised only $262 million over the first six months of 2019. Even though every site has their own numbers and totals when it comes to IEOs, Coinbase may announce an IEO platform soon and trigger more growth and increased interest in this field.
`
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below





Attention: The internal data of table “2” is corrupted!
Attention: The internal data of table “3” is corrupted!

ADVERTISEMENT

cryptocurrency review

ADVERTISEMENT

Join us on Facebook

Recent Posts

ADVERTISEMENT

UPCOMING EVENTS RECOMMEND BY DC FORECASTS

october

No Events

NEWS CATEGORIES

ADVERTISEMENT

Trending Worldwide

X
X