What a difference a week makes, or does not make in the case of Bitcoin’s progress toward a new All-Time-High (ATH). Based on favorable news about the launch of the Bakkt exchange in late September, BTC buyers were numerous at the start of the week, driving prices up to strong resistance at $11,000, only to…
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The US Treasury, or more specifically its Office of Foreign Assets Control (OFAC) has recently blacklisted three Chinese residents and their respective crypto accounts. The reason? Smuggling of drugs and money laundering allegations. The three Chinese individuals are the following: Guanghua Zheng, Xiaobing Yan and Fujing Zheng. All three of them are currently named as narcotics traffickers and…
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In our new Internet Age, news cycles often turn over so quickly that yesterday’s storylines are soon forgotten, along with any important dates that could loom large in the future. Such is the case with Bitcoin, and particularly so since price behavior tends to gyrate wildly whenever news event of interest occur. For traders and…
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There is an old trading maxim that veteran traders always abide by, which states that one should never let their emotions convince them that they are smarter than the market. We have all made this mistake. We develop a strategy around a perception of what we sincerely believe the market will do. We establish a…
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eToro UK markets analyst, Adam Vettese, has provided his daily commentary on traditional and crypto markets for August 19, 2019. The text below is an excerpt and does not contain the full analysis. Hi Everyone, This week may well be as volatile as last week. Attention will be focused on the Federal Reserve’s FOMC minutes…
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Financial markets are in turmoil. The forever feared interest rate inversion has occurred. When 10-year Treasury yields drop below those for 2-year Treasuries, it is an alarm that a recession is on the way, perhaps, within the next 12 months. This indicator is our most trusted and accurate one for predicting recessions, having been on…
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The Bears cometh, and the Bears taketh away, from not only equities across the board, but also from Bitcoin and its altcoin brethren, as fears of an impending recession overly sway investor sentiments. That large sucking noise that you hear is the globe’s financial market being drawn into a “Black Hole” of frantic selling. Stocks…
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Mati Greenspan, Senior Market Analyst at FX broker eToro, has provided his daily commentary on traditional and crypto markets for August 15, 2019. The text below is an excerpt and does not contain the full analysis. Hi Everyone, Traditional markets have continued to seek shelter as stocks plunge and bond yields reach ever lower. Gold…
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The Dow Jones and S&P 500 stock indexes are up, and, coincidentally, Bitcoin is down over the past five days after assaulting $12,000 on several occasions. BTC has succumbed to selling pressure, presumably to fund the rise in equities across the financial street. It had held $11,400 for a space of time, but it now…
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Bitcoin analysts that populate Twitter take great pains in plotting every possible near-term movement that their beloved digital asset might traverse over the ensuing weeks, tapping into their favorite technical indicators and citing all manner of fundamental causes that will drive the price action. While the majority points to actions taken by Fidelity Investments, the…
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