Mati Greenspan, Senior Market Analyst at FX broker eToro, has provided his daily commentary on traditional and crypto markets for October 18, 2019. The text below is an excerpt and does not contain the full analysis. Hey Joe... I heard you shot Bitcoin down. And that ain't cool. For those of you who don't know,…
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Bitcoin enthusiasts were hopeful last week that a familiar technical pattern would come to the rescue of their beloved digital asset, but it was not to be, at least not yet. The pattern that got everyone excited was what is called a “Double-Bottom Reversal”. If you calculate the distance from the bottom to its “neckline”,…
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With all the hoopla surrounding the stumbling Bakkt futures exchange, we tend to forget that the Chicago Mercantile Exchange (CME) has already established itself as a “go to” place for Bitcoin futures contracts. The CME is also a wily competitor, having knocked out the Chicago Board of Exchange (CBoE) from the arena last March. The…
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Bitcoin enthusiasts, investors, and observers have still not gotten over how severely Bitcoin fell from grace, after the Bakkt crypto futures exchange opened for business. The blame-game has continued for weeks. The S&P 500 Index also took a tumble at the same time, as trade talks worsened and recession fears ramped up, but none of…
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Bitcoin enthusiasts have been jostled about after the disappointing Bakkt debut, losing 20% or more of their gains for the year and fearing the worst going forward. For those reasons alone, it is easy to see why Bitcoin’s supporters are searching madly for any technical signal that might be glowing “Green” at the moment. It…
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While it can be very entertaining to follow the daily perturbations of Bitcoin and its altcoin rivals, there is always a very visible grey cloud that hangs over the horizon, threatening a wave of risky situations that could wreak havoc on the crypto-verse. What comprises this cloud of doom? In a word – security, the…
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Cryptos may have taken it on the chin big time over the past two weeks, dropping billions in market cap, while even Bitcoin shed 20% of its valuation, but crypto investors can still smile in coffee rooms across the globe, since their BTC returns were 110% to date. These figures include recent losses, as well,…
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Bitcoin revisited the upper $7,000s this weekend, continuing its ranging behavior, but always with a gradual downward slope, as if tempting bears or bulls to grab on. The excitement from a few weeks back is quickly becoming a distant memory, but so is $10,000, its last ranging median for weeks on end. Advocates, however, are…
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More than a decade back, after a few influential techie types discovered “Bitcoin: A Peer to Peer Electronic Cash System”, a new form of payment vehicle rushed to the point-of-sale to revolutionize the stodgy payments industry forever. Such would not be the case due to the volatility of this digital asset, but it did become…
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Mati Greenspan, senior analyst for eToro, has been a voice of both reason and wisdom when it comes to all things crypto. Often sought out for comments about the pricing behavior of Bitcoin and its altcoin brethren, Greenspan has never shied away from expressing his thoughts on the state of the crypto industry. This week…
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