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Bitcoin Hovers Around $10,130 as Altcoins Suffer Minor Losses

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On Aug. 24, most of the top 20 cryptocurrencies are suffering moderate losses on the day while Bitcoin (BTC) hovers around the $10,130 mark.

Market visualization

Market visualization courtesy of Coin360

Bitcoin price is currently down by 0.6% on the day, trading at around $10,130 at press time, according to Coin360.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Coin360

Ether (ETH) is holding onto its position as the largest altcoin by its market capitalization, which currently stands at $20.5 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $11.6 billion at press time.

Coin360 data shows that ETH’s value decreased by about 0.52% over the last 24 hours. At press time, ETH is trading at around $191. On the week, the coin has also gained about 3.24%.

Ether 7-day price chart

Ether 7-day price chart. Source: Coin360

XRP is down by about 0.43% over the last 24 hours and is currently trading at around $0.272. On the week, the coin is up about 4.21%.

XRP 7-day price chart

XRP 7-day price chart. Source: Coin360

Among the top 20 cryptocurrencies, the only ones reporting over half of a percent worth gains other than Bitcoin are Tezos (XTZ), which is up about 2.71%, IOTA (MIOTA), which is up about 1.62%, and Unus Sed Leo (LEO), which is up 0.56%.

At press time, the total market capitalization of all cryptocurrencies is $268.5 billion, about 0.15% higher than this value was a week ago.

As Cointelegraph reported earlier today, representative Maxine Waters, chair of the U.S. House of Representatives’ Financial Services Committee, stated the organization will continue to review Facebook’s proposed cryptocurrency Libra and the corresponding digital wallet Calibra.

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Bullish Sentiment Implies Bitcoin Price Needs to See Bigger Flush

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If you’ve been on Crypto Twitter at all, you know of the Bitcoin “HODL” meme. For those living under a rock, here’s a quick explainer: HODL, a misspelling of “hold” first found on the (in)famous BitcoinTalk forum, has become a battle cry for diehard BTC investors, who believe it is irrational to sell the asset.

Related Reading: Bitcoin Volume Profile Suggests Rally to Bring Price Past $20,000 is Near

While many take “HODL” and its derivatives as pure jokes, a commentator has suggested that the persistence of Bitcoin-related memes like “HODL” and “number go up” is a sign of remaining market euphoria from 2017’s bubble, and may thus imply that a further flush in the cryptocurrency markets is well on its way.

Bitcoin Still Has Room to Fall… Apparently

Emotions are fickle things, especially in financial markets. Over the course of the past year, the cryptocurrency market has been through a lot, and so have its investors. Though there are some analysts calling for short-term losses, the sentiment in the Bitcoin market is still widely medium to long-term positive, with calls for investors to “stack sats” and “buy every dip” becoming popular trends on industry social media platforms.

While these expectations that Bitcoin will eventually “moon” aren’t bearish in and of themselves per se—they show that there is continual demand for BTC—a commentator going by “kerneltrader” has noted that it may be a sign that cryptocurrencies remain at too high valuations.

They suggested that this is the only bull market in Bitcoin’s history where parabolic gains have been overtly expected, not wished for or joked about. Kernel claimed that this permabull mindset that many in the industry have adopted is a sign of complacency, is a sign that “a bigger flush is needed” to wipe out all the bulls of yesteryear.

As an opinionated aside: November and December of 2018 was, in this writer’s opinion, decisively a capitulation moment for the market. Then, you had prominent cryptocurrency firms dumping their staff as capital runways became short; analysts were calling for sub-$2,000 Bitcoin prices, and mainstream media were claiming that the blockchain gravy train had crashed entirely. If that isn’t a capitulation, I don’t know what is.

Related Reading: Canadian Bank Changes Bitcoin Tune, May Launch Cryptocurrency Exchange

But Isn’t a Rally Inbound?

Sure, sentiment analysis may suggest that Bitcoin has yet to complete a brutal capitulation phase, but aren’t the technicals showing that a bull run in the cryptocurrency market is on the horizon, if not already here? Yup, yes they are.

As reported by NewsBTC previously, Bitcoin’s record volume seen in June of this year and the subsequent consolidation phase are indicative of an impending rally.


Digital asset manager Charles Edwards proposed that in previous bull markets, fresh all-time highs in volumes were always followed by consolidation and “huge rallies,” with the growth in volume leading to long-term exponential bull markets that brought Bitcoin to orders of magnitudes higher than it was before the surge.

Digital asset manager Charles Edwards proposed that in previous bull markets, fresh all-time highs in volumes were always followed by consolidation and “huge rallies,” with the growth in volume leading to long-term exponential bull markets that brought Bitcoin to orders of magnitudes higher than it was before the surge.

Also,  popular cryptocurrency trader FilbFilb has noted that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses. Also,  popular cryptocurrency trader FilbFilb has noted that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Source:newsbtc

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Former Circle Exec – Bitcoin Is “A Lot Safer Now”

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  • Two former execs at Circle have teamed up to found proprietary crypto trading platform CMS Holdings.
  • The three have all reportedly made the decision to pitch in over $10 million.
  • 30% is set to be invested by CMS Holdings.

Following on from an article we published earlier today, two former execs at the crypto finance company, Circle and an ex exec at DRW have all teamed up to found proprietary crypto trading platform CMS Holdings.

According to CoinTelegraph on 13th November, “the firm is the joint venture of former Circle executives Daniel Matuszewski — former head of the firm’s over-the-counter desk Circle Trade — and former technology executive Julien Collard-Seguin alongside a third partner. The third founder is the former head of trading at Cumberland (the crypto trading arm of brokerage DRW) Bobby Cho.”

The three have all reportedly made the decision to pitch in over $10 million. Whereas Circle only began trading in October, CMS Holdings is based out of the Cayman Islands and does not look after the finances of outside investors. 

Cho explained:

“We deploy strategies much like a hedge fund in the market, except that we’re not structured as such.”

30% is set to be invested by CMS Holdings of its capital into the majority of liquid digital currencies. 

Nevertheless, Matuszewski did confess that he would never have started such a company just a few years ago due to the huge concerns over risk. He explained:

“There was always a non-zero chance that bitcoin would gap down, die, and never come back. […] It’s a lot safer now, in that it’s probably not going to disappear.”

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The Bitcoin Code Review

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Cryptocurrency trading has become much easier with the great effort put in by Steve Mckay. The software he created has made cryptocurrency trading much easier, as it has embedded great AI features with it. His developed app has the capacity to generate over $500 per hour on crypto trading.

What is the Bitcoin Code?

Bitcoin Code is a trading robot. It is an automated trading software program that help traders determine whether to buy or sell an asset at any given point in time. The Bitcoin Code runs on very intelligent AI software and robots that can appropriately detect rise or fall in cryptocurrency prices to help its users buy at very cheap price and sell when the price appreciates.

The software gained its popularity due to its sophisticated algorithms which are said to predict crypto market movements and execute profitable trades for the user automatically. The platform’s algorithms are able to make trades hundreds of times per second and is 0.1 seconds ahead of the market. This is said to enable the software to make greater returns than through traditional forms of trading.

It has unique algorithms that can easily identify as well as predict any potential trends and threats in the cryptocurrency market.

Some Benefits Attached to the Bitcoin Code

  • Ease of Use: This Bitcoin Code can perform cryptocurrency and bitcoin trade without the user having to be actively involved, as it’s an automated crypto trading software application. The trading tools are very simple to learn and available to users from all over the world who want to make profits daily, unlike other platforms and software where users might need to go for some special training to use such.
  • Curbed Risk: The height of the risk involved with crypto trading is equivalent to the profit one can make from the platform. Hence, the chances of having a huge return on investment is high, because the Bitcoin Code has gone through the extensive test.
  • Legitimacy: The doubt of whether or not it is a scam is no more as we believe that people who call Bitcoin Code a scam simply don’t understand the risks of automated trading. The software is tested, and completely free; As oftentimes, those who clamour scam about the process are mainly people without an understanding of how it really works.
  • Win-win situation: as of September 2019, Bitcoin Code claims that their software has a win ratio of around 99.4%, which has attributed to its popularity.
  • Quick transactions: The software allows for speedy and multiple transactions in split seconds, which the ordinary trader cannot make within a short time limit, and this is one of the reasons for the popularity of the platform.
  • Lastly, Customer support; which is one sure way the platform has built confidence and trust in its users, as help is always a click away.

How it Works?

The ease of use of the software has made it accessible to more individuals, enabling people from across the world to invest and reportedly earn profits. According to the software, the user only needs to open an account, deposit $250 and at this point, the software will run and the user only has to sit back, collect their profits, and withdraw them in their local currency to a bank account. You don’t even need to use Bitcoin; all accounts are settled in cash. Many longtime users are supposedly generating passive income this way, funding a lifestyle of travel, luxury, and saving for retirement.

The software facilitates the functions of an artificially enhanced intelligent robot that enables users to buy Bitcoin at low prices and sell for a profit when the price appreciates. The steps to register is very simple and it’s easy to start earning potentially, after making a small deposit

Who Can Use Bitcoin Code?

There really is no limit as to location or race, in using Bitcoin Code, as anyone and everyone can use it. All that’s needed is just a little understanding of how trade works, and the bot gets to do the automated trading. As those complaining about the process have no information at all about trading and how the system really works; as countless traders from all over the world have gained more profit by using this universal trading platform. Ever since the origin of the Bitcoin Code, it has been the top passive income making platform, which anyone and from anywhere around the world can withdraw their earnings from.

How to Use Bitcoin Code?

  • The first step is having to register and open a free account. Registration entails inputting email address, phone numbers, location and owning a username.
  • The second step would be having to make a deposit, after the verification of the account, and linking a broker account, then the deposit can be made.
  • Deduction of the deposit will be from the Forex2Crypto account with Visa, Mastercard, PCI, or Geotrust as payment options.
  • Upon completing the following processes, then, you activate the trading, as either manual or automated trading features. Then, the user can make a choice of which digital /cryptocurrency of their choice they wish to trade (BTC, LTC, ETH, and XRP). The software is flexible and user-friendly, as the user can choose where or not to take on high-risk trade, or a lower one. The platform is so intelligent, that it makes calculated decisions and well-programmed moves on when to buy or sell cryptocurrency.

Now, those who are new to the platform have the benefit of a demo version to practice and know better how the system works and so become better acquainted, as the demo is a dummy of the original system and eliminates doubt as this would not make use of real money. The bitcoin code is at the top of the chart of options to use in trading bitcoin, with guaranteed ROI for your trade. Upon signing up for the Bitcoin trading software, the artificial intelligent robot in thebitcoinscode.com will know when to best buy at low price range and when to sell at high.

Source:newsbtc

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