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Bitcoin (BTC) to pass through halving unaffected – Morgan Creek Digital

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  • Jason Williams believes that halving would not influence Bitcoin’s price.
  • The experts have different theories about Bitcoin’s price movements.

Bitcoin’sBitcoin’s halving is five months away, and experts are trying to figure out how it will affect the price of the first digital coin. Many cryptocurrency analysts expect Bitcoin’sBitcoin’s growth ahead of the even as historically, the coin demonstrated a strong rally in months preceding halving. 

However, there are some dissidents with unpopular opinion the Bitcoin would not be affected by the event at best. Jason Williams, the co-founder at digital asset fund Morgan Creek Digital, is one of them.

In a recent tweet dated December 1, he stated that halving would be a non0event for Bitcoin’sBitcoin’s price.

Bitcoin halving in May 2020 won’t do anything to the price.  It will be a non-event, he wrote.

Meanwhile, another famous cryptocurrency analyst Willy Woo pointed out that the market was controlled by bears ahead of mining for the first time in history.  This is an unfavorable setup for the first cryptocurrency, according to the expert.

A

co-founder of Morgan Creek Digital Anthony Pompliano said that the halving had not been priced in at $7,200.

At the time of writing, BTC/USD is changing hands at $7,280, down 1% since this time on Sunday.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

source:fxstreet.

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Bitcoin Cash

Bitcoin Cash Technical Analysis: BCH/USD sitting on critical weekly support a breach is eyed

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  • Bitcoin Cash price is trading in the green, with gains of 2.10% in the second half of the session.
  • BCH/USD is sitting on critical weekly support at $208, ahead of of psychological $200 mark. 
  • Price action is moving within consolidation mode, vulnerable to further downside risks. 

BCH/USD weekly chart

The price is running at its second consecutive week in the red, trading just above vital support at $208. 

BCH/USD daily chart

Daily trading conditions remain very much narrow, which has been the case since 23 November. An explosive breakout does appear to be imminent. 

Spot rate:                 211.11

Relative change:      +2.10%

High:                          209.10

Low:                      

    206.00

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Source: fxstreet

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Bitcoin Cash

Bakkt’s BTC Monthly Options record execution of first block trade

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Bakkt has come a long way since its launch on 23 September.

After stuttering initially with low trade volumes, with the exchange recording trades of only 71 BTC on the first day, Bakkt has taken major strides in the market over the past few months.

According to a press release released by Intercontinental Exchange or ICE, Bakkt’s parent company, the first block trade of Bakkt’s BTC Monthly Options that was submitted to ICE Futures U.S has been executed.

The block trade was carried out between Mike Novogratz’s Galaxy Digital Trading and XBTO, an asset management firm.

With this announcement, Bakkt has managed to stay one step ahead of its direct competitor, CME Group. However, the CME Group has its own plans to launch its option contracts early next year on 13 January 2020.

Bakkt’s BTC Monthly Options are also the first CFTC-regulated options on Futures contracts for Bitcoin, and is a development which highlights

the improving institutional involvement in the world’s largest digital asset.

Trabue Bland, President of ICE Futures U.S, stated,

“Based on our benchmark physically delivered bitcoin futures, these options contracts offer our customers a capital-efficient new tool for trading and for managing volatility, price risk, and income generation.”

Josh Lim, Head of Trading Strategy at Galaxy Digital Trading, suggested that the deployment of centrally-cleared Bitcoin options laid the path for a better institutional market, one that would be ingrained with a deeper level of liquidity.

The latest development came on the back of another instrumental announcement as last week, it was reported that Bakkt completed over 1,000 cash-settled Futures contracts in Asia following its launch on 9 December in Singapore.

Two weeks prior, Bakkt reached significant levels in terms of volume after it was reported that the exchange recorded an estimated $38.74 million in trading volume, a figure which was equivalent to almost 5,100 BTC.

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Bitcoin Cash (BCH/USD) forecast and analysis on December 13, 2019

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Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 205. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator stripes.

Bitcoin Cash (BCH/USD) forecast and analysis on December 13, 2019

As part of the Bitcoin Cash forecast, a test of level 208 is expected. Where can we expect an attempt to continue the fall of BCH/USD and the further development of a downward trend. The purpose of this movement is the area near the level of 188. The conservative area for sales of Bitcoin Cash is located near the upper border of the Bollinger Bands indicator strip at 214.

Bitcoin Cash (BCH/USD) forecast and analysis on December 13, 2019

The cancellation of

the option to continue the depreciation of Bitcoin Cash will be a breakdown of the area of ​​the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair above the area of ​​220. This will indicate a change in the current trend in favor of the bullish for BCH/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Bitcoin Cash (BCH/USD) forecast and analysis on December 13, 2019 implies a test level of 208. Further, it is expected to continue falling to the area below the level of 188. The conservative area for selling Bitcoin Cash is located area of 214. Canceling the option of falling cryptocurrency will be a breakdown of the level of 220. In this case, we can expect continuation growth.

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