Daily Archives: January 31, 2020

Will Bitcoin Budge as Brexit Arrives Tomorrow? – Bitcoinist

Posted: January 31, 2020 at 9:47 am

After years in the making, Brexit is finally happening tomorrow. The event is expected to cause a major shift in the global economy and could bring about any number of unforeseen consequences. It also begs the question, will this geopolitical occasion have any impact on bitcoin and crypto?

Love it or hate it, Brexit is finally becoming a reality after 4 years of referendums, political arguments, delays, and nonstop negotiations between UK and EU officials on how best to achieve the dissolution of the UKs membership in the EU. The UK is set to roll out a new Brexit coin to commemorate the event, despite Remainers saying they wont accept it.

So, other than a shiny new coin, what else will change with Brexit? Well, for starters all the UK members of the EU parliament will lose their seats. The UKs passports will change colors, from the standard issue burgundy passport to a blue and gold design which hasnt been seen since 1912.

UK citizens will still be able to live and work in EU nations and there is also a planned 11 month transition period for officials to work out a comprehensive free trade deal between the UK and EU. All of this radical change and uncertainty has bitcoin traders asking themselves if its time to load up or cash out of the crypto market.

Popular Twitter trader, Big Cheds, noted that the daily charts for BTC, LTC and BCH all have bearish signs, and the Crypto Dog, pseudonymous trader alsoon Twitter noted a bearish candle on the BTC chart. Despite bitcoins narrative as a newly emerging safe-haven asset, we may see the markets dump due the uncertainty surrounding the transition.

The change tomorrow of the UKs Brexit is more symbolic than anything, so it may not really shake up the markets too much at first. There is an 11 month period for both EU and UK officials to really settle the nitty gritty details about residency, trade, healthcare, pensions, drivers licenses and many other bureaucratic complications that come from a nation leaving an economic union.

Many of the market shaking effects predicted by Remainers, might not actually be seen until the end of the transitionary, period. It all depends on how smoothly the free trade talks go, between the EU and UK.

EU officials have stated that the 11 month transitionary period isnt near enough time to adequately resolve the budgetary issues that will arise from the UK ending its contributions. Your average EU citizen in the UK or UK citizen living abroad probably wont notice much change in their day to day lives, until negotiations have been completed.

One of the primary concerns facing both the EU and UK is the joint resolution on security measures going forward. Terrorism and crime will need to be met on common ground and it remains to be seen what kind of arrangement officials can work out.

Overall, the crypto markets have been bullish for the first month of 2020, so Brexit could be the catalyst to knock the wind out of the sails so to speak and cause a bearish reversal. Earlier this week the crypto markets crossed a psychologically significant barrier of 250 billion USD, ending a 7 month downtrend. The crypto markets currently sit at $262 billion, although Brexit may cause capital to flee to safer assets.

Is Brexit bearish or bullish for crypto? Let us know what you think in the comment section below!

Images via Shutterstock, Twitter @TheCryptoDog @BigCheds

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This Bitcoin Competitor Pumped 272% And a Self-Proclaimed Inventor of BTC Says He Knows Why – The Daily Hodl

Posted: at 9:47 am

Craig Wright, a self-proclaimed inventor of Bitcoin, says he knows what triggered a massive pump in the price of Bitcoin SV, the fifth-largest cryptocurrency by market cap. Bitcoin SV surged from $117 on January 9th to a high of $436 on January 14th a rise of 272%. The coin has since dipped to $303.

In a new interview on BlockTV, Wright says he knows the people behind the pump, but he is unwilling to name names.

I know whats behind it and who and whatever else. I know people who are doing things and none of that is public information, so Im not going to share it.

When asked if the pump was organic, Wright clarifies,

Theres market interest, but Im not saying who is getting behind it.

As for his ongoing legal battle with the estate of his late business partner David Kleiman, Wright says hes not willing to share details about the private keys linked to over 1.1 million Bitcoin (BTC) that he claims he owns.

You have a bunch of morons who have no idea, running around saying that censorship resistance is important and then going, But dont let him talk.

So no, I dont listen to idiots.

Commenting on the lengthy lawsuit, which alleges that Wright still holds all of the Bitcoin that he and his Kleiman mined together, he rebuffs his critics.

A person who is basically a con man wants to falsely prove the partnership that doesnt exist so that he can get access to money he never owned.

When questioned about whether he has access to the private keys associated with the Tulip Trust, a contract that allegedly confirms that 1,100,111 BTC were returned to Wright, the Australian computer scientist says its nobodys business, regardless of the fact that the case is closely followed and is a matter of public domain.

Its none of your goddamn business. Were talking about someones financial privacy, whatever else, and you guys are a bunch of incredibly rude assholes. Theres no other way to put this. You sit there going, How much money do you have?; What bank account do you have?; Where is your money now?. Who cares what?

Theres one answer to this: Screw you. Theres no such thing as privacy coins. Theyre anonymity coins. Theyre seeking to not be private but basically lose all records. Actually, I still have entities I am associated with that have a lot of rights to BTC, so I am not dumb enough to shoot myself in the head.

Responding to a question about whether he should feel obligated to disclose details about his alleged ownership of over 1 million BTC since his holdings could have a significant impact on the crypto space, Wright remarks,

No. It is a question based on, I dont understand what Bitcoin is or how it works. I dont understand law. I think Bitcoin is outside of law. And I think I should have a right to know all about your finances because it might affect my day trading.

Check Latest News HeadlinesDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Are Bitcoin Bulls Finally Giving Up? BTC Shows First Signs of a Big Correction – newsBTC

Posted: at 9:47 am

Bitcoin spiked above $9,400 and $9,500 against the US Dollar. BTC traded to a new yearly high at $9,569 and it is currently showing signs of a downside correction.

Yesterday, bitcoin remained well bid above the $9,200 support against the US Dollar. As a result, BTC extended its upward move above the $9,400 resistance area. The price even spiked above the $9,500 resistance and traded to a new 2020 high at $9,569.

However, the bulls fails to remain in action above the $9,500 level. It corrected lower below the $9,500 level, plus the 23.3% Fib retracement level of the recent move from the $9,167 swing low to $9,569 high.

More importantly, this weeks crucial bullish trend line was breached with support near $9,420 on the hourly chart of the BTC/USD pair. Therefore, it seems like bitcoin price is preparing to start a downside correction below $9,400.

Bitcoin Price

An immediate support is near the $9,360 level. It coincides with the 50% Fib retracement level of the recent move from the $9,167 swing low to $9,569 high. The first key support is near the $9,260 level, below which the bears are likely to eye a test of the $9,150 support area.

The bulls need to be careful if bitcoin slides further below the $9,150 support. In the mentioned case, there is a risk of a large downside correction below the $9,000 support area.

The recent downside break below the trend line and $9,400 could be false. To restart the current uptrend, the bulls need to push the price back above the $9,480 and $9,500 level.

A successful daily close above the $9,500 resistance level will most likely open the doors for a run towards the main $10,000 resistance area. An intermediate resistance might be near $9,850.

Technical indicators:

Hourly MACD The MACD is now back into the bearish zone.

Hourly RSI (Relative Strength Index) The RSI for BTC/USD is currently declining and is now below the 50 level.

Major Support Levels $9,260 followed by $9,150.

Major Resistance Levels $9,500, $9,850 and $10,000.

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Bitcoin Price Could Rally to $10,000: Former Wall Street trader Tone Vays – FXStreet

Posted: at 9:47 am

Bitcoin rallied from lows around $6,500 (traded in December) to highs above $9,400 (at the end of January). The entire cryptocurrency market has been generally bullish with selected cryptocurrencies such as Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum Classic, Dash and Iota recording massive gains.

The price of the largest cryptocurrency in the industry is hovering above $9,300 but precisely trading at $9,360. It has suffered a 1.45% loss on the day, although it achieved intraday highs of $9,523 during the Asian session.

Tone Vays, a former Wall Street trader believes the trend of the crypto market is about to turn in him into an all-time bull for the next four years. In his prediction, he says that the Bitcoin price is likely to rally further up but will get rejected above $9,700. The rejection will be followed by a pullback to levels not lower than $7,900. Consequently, the pullback will set the ground rolling for a rally above $10,000, which will turn him into raging bull for the next four years.

As the market steadies above $9,300 following the rejection from levels above $9,400, Whale Alert has spotted a colossal transaction of BTC, totaling 2,000 BTC sent to Binance. The value of the Bitcoins using the current exchange is approximately $18.7 million. It is said to be part of the whales holding wallet which originally held 4,053 BTC.

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Bitcoin Rallies to Near $9150 as Stocks Drop Over Coronavirus Fears – Coindesk

Posted: at 9:47 am

Bitcoin is maintaining its upward trajectory as coronavirus-led risk aversion hits the traditional markets.

Thetop cryptocurrency by market value crossed the 200-day moving average at $9,000during Tuesday's Asian trading hours and rose to a high of $9,150, pushing thecumulative month-to-date gains to over 25 percent.

At press time, bitcoin is changing hands at $9,061. Despite the minor pullback from the morning's high, the cryptocurrency is still reporting a 4.8 percent gain on a 24-hour basis, and is up roughly $700 from lows near $8,250 observed over the weekend, according to CoinDesk's Bitcoin Price Index.

While bitcoin has kicked off the week on a positive note, stock markets across the globe are facing selling pressure.

Notably, the Dow Jones Industrial Average fell by more than 450 points on Monday with travel-related shares suffering sharp losses on fears the coronavirus outbreak in China could spread globally, hurting worldwide economic growth.

The virus, which first appeared in the Chinese city of Wuhan, is spreading fast. It has so far claimed more than 100 lives in China and the number of confirmed cases increased to 4,515 on Tuesday from 2,835 on Monday, according to the National Health Commission.

With bitcoin outperforming stocks amid the coronavirus scare, a few experts are convinced the cryptocurrency is drawing haven bids more so, as classic safe-haven asset gold has risen by just 0.65 percent so far this week.

The safe-haven argument, however, is not strong, according to prominent analysts like Alex Kruger. "Keep in mind that until Friday the narrative was 'Coronavirus pushing bitcoin lower'. It now is 'Coronavirus pushing bitcoin higher.' Some people try very hard to create narratives," he tweeted Tuesday.

Moreover, bitcoin picked up a strong bid below $7,000 at least two weeks before Chinese authorities placed Wuhan under quarantine on Jan. 23, sending equity markets into a tailspin, and has extended the rally over the last two days.

In fact, the virus outbreak could ultimately have a negative impact on crypto markets, Jason Wu, CEO and founder of non-custodial crypto lender DeFiner, told CoinDesk earlier this week.

Many Chinese crypto retailers tend to cash in on cryptocurrencies right before the Chinese New Year holiday and reinvest in the market in the next year, Wu said. With the virus outbreak, that money may not return to crypto markets, possibly leading to a price drop.

From a technical perspective, bitcoin is looking heavy and could suffer a minor pullback in the next 24 hours.

Hourly chart

The relative strength index charted a bearish divergence (lower highs) earlier on Tuesday, signaling bullish exhaustion, and dived out of an ascending trendline to indicate an end to the rally from lows near $8,250.

The MACD histogram is printing deeper bars below the zero line, indicating a strengthening of downside momentum.

4-hour chart

The current four-hour candle is flashing red, validating the buyer exhaustion signaled by the preceding inside bar candle, which occurs when the specific period's price action falls within the preceding period's trading range.

The RSI has also rolled over from the overbought (above-70) region, signaling scope for correction.

Both the hourly and four-hour charts are indicating the cryptocurrency could revisit the former resistance-turned-support at $8,793-$8,750 (horizontal lines on the four-hour chart).

A violation there would expose the next support at $8,530. If that level holds, bulls might breathe a sigh of relief and another attempt higher could be initiated targeting resistance at $9,000.

The odds of a pullback to $8,750 would weaken if the cryptocurrency finds acceptance above $9,150 during the U.S. trading hours. In that case, the recent high of $9,188 will likely be scaled.

It's worth noting that longer duration charts are aligned in favor of the bulls. So, pullbacks, if any, could be short-lived.

Disclosure:The author holds no digital assetsat the time of writing.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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This is the right amount of bitcoin to keep in an investment portfolio – CNBC

Posted: at 9:47 am

eclipse_images | E+ | Getty Images

If you can't beat the crypto crowd, it might be time to join them, experts say.

Virtual currency and its underlying technology, blockchain, are here to stay and that means both will play some role in investors' lives.

"It's actually very hard to decouple blockchain and bitcoin," said Sunayna Tuteja, head of digital assets and distributed ledger technology (DLT) at TD Ameritrade.

She spoke at the TD Ameritrade LINC conference in Orlando, Florida, on Wednesday.

"On the one end, how do we commercialize the value of DLT and blockchain to bring more innovation to traditional markets?" Tuteja asked. "On the other end of the spectrum: How do you tap into this nascent asset class?"

Cryptocurrency at least bitcoin has staying power. "Because there's a fixed number of bitcoin, it's inflation-proof and it's virtually instantaneous," said conference speaker Ric Edelman, founder of Edelman Financial Engines.

Even investors in retirement plans are dipping a toe into the asset class.

In the third quarter of 2019, the Grayscale Bitcoin Trust, which tracks the price of the cryptocurrency, was the fifth-largest holding among millennial investors in Charles Schwab's self-directed brokerage accounts.

Self-directed brokerage accounts are sometimes offered within retirement plans and allow investors to select individual stocks, bonds and other assets that aren't on a 401(k) plan's general investment menu.

Luc MacGregor | Bloomberg | Getty Images

The price of bitcoin surged to its zenith on Dec. 15, 2017, when one unit of the virtual currency was valued at $19,650. The price cratered a year later, slumping to $3,183 on Dec. 14, 2018.

As of Jan. 30, one bitcoin is equal to about $9,300.

Volatility notwithstanding, this virtual currency also carries little correlation with other asset classes investors may hold in their portfolio, including stocks and bonds, Edelman said.

A 1% allocation to bitcoin that is, going from 60% in stocks and 40% in bonds to 59% in stocks, 1% in bitcoin and 40% in bonds -- just might be enough to give investors the benefit of diversification without risking the whole portfolio, Edelman said.

"We need to acknowledge that 1% allocation isn't going to materially harm a client," he said. "It isn't going to prevent them from achieving their financial goals, and won't damage their personal finances."

Oliver Furrer | Cultura | Getty Images

Making a tiny allocation toward bitcoin doesn't absolve investors of the need to do their homework before buying, say experts. They should get schooled on digital assets, as well as the underlying blockchain technology, first.

"Don't consider investing unless you understand the technology," said Edelman. "Otherwise, you're not investing; you're spending."

Investors hoping to jump into the crypto pool should approach it with a long-term mentality and prepare to ride out volatile times including the chance of a 100% loss from that digital currency, he said.

More from FA Playbook:Blockchain's potential will continue to spur investmentHow much investors should invest in alternativesAre collectibles good investments or just hobbies?

Finally, don't forget that if investors acquire, sell or exchange cryptocurrency, they'll need to report it to the IRS. The tax agency treats bitcoin holdings as property, the same way it would regard stocks and other investments.

Cryptocurrency exchanges may provide investors with a Form 1099-K detailing capital gains and losses, but there is no guarantee that they'll get one.

That means it's up to bitcoin owners to track their basis their original investment in the virtual currency -- and their transactions for accurate tax reporting.

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Theres Something Very Strange Going On With Bitcoin Exchange LocalBitcoins – Forbes

Posted: at 9:47 am

Bitcoin exchange LocalBitcoins, often used as a gauge of bitcoin interest and prices around the world, has suddenly begun suspending long-time users' accounts without warning.

Reports began coming in this week that LocalBitcoins users across Africa, the Middle East, and Asia have had their accounts "deactivated."

Bitcoin users around the world have complained that LocalBitcoins has suddenly suspended their ... [+] accounts without explanation.

Messages seen by this reporter were sent to account holders by LocalBitcoins in countries including Afghanistan, Iraq, Nigeria, Syria, and Pakistan informing them they could "withdraw [their] bitcoins by deleting [their] account," though some users have claimed to be unable to do so.

LocalBitcoin, a peer-to-peer bitcoin exchange which was founded in 2012 and is headquartered in Helsinki, Finland, was unable to be reached for comment.

"One of my customers was due to travel out of the country and had to sell some of his bitcoin to be able to go only to notice on his way to the airport that he cannot even access his funds," said one LocalBitcoins user of three years in Nigeria, who wanted their identity to remain anonymous, adding their account had been suspended on Monday morning with no indication of when it might be reactivated.

According to the message received by users, LocalBitcoins now requires users in some countries to go through an "enhanced due diligence process," though LocalBitcoins has given no indication of what that process is or when details will be made clear.

Some reports have suggested the suspensions are a result of strict new European Union anti-money laundering regulations that came into effect this month, requiring bitcoin and cryptocurrency platforms and wallet providers to identify their customers.

However, LocalBitcoins, which has a reputation as being a relatively anonymous way for bitcoin users around the world to buy and sell bitcoin, claimed to have complied with the new legislation early last year, giving it ample time to verify users' identities ahead of the changes taking effect this month.

The regulatory changes have been blamed for bitcoin trading volumes on LocalBitcoins falling sharply in recent months, with reports suggesting bitcoin volume on the site fell by around 70% between September and November 2019.

In an interview last year, LocalBitcoins chief executive Sebastian Sonntag said the exchange was signing up between 4,000 and 5,000 new users per day but warned "changes" to the site have "had an impact on overall trade volume."

"We expect the situation to become more stable in the following weeks and improvements in the verification flow should also influence positively," Sonntag told finance trade site LearnBonds.

Meanwhile, other major bitcoin and crypto exchanges have been struggling with declining volumes over the last year, sparking fears the market could be on course for a correction.

The bitcoin price has climbed over the last 12-months but declining trade volumes have some worried. ... [+]

Bitcoin and cryptocurrency exchanges around the world have long struggled with hacks, data breaches, and theftswith many millions of dollars worth of bitcoin and other cryptocurrencies lost.

Last year, hackers stole around $28,000 worth of bitcoin from users' LocalBitcoins accounts.

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Which altcoins have outperformed Bitcoin in January 2020? – Yahoo Finance

Posted: at 9:47 am

The new year couldnt have got off to a better start for cryptocurrency enthusiasts.

After the significant Bitcoin pump that took place early in the year, where the price of BTC increased close to 20% in the space of a few days, it seems the market has now stabilised.

Meanwhile, even with Bitcoins rise, some top altcoins have experienced some impressive gains versus the worlds pre-eminent cryptocurrency.

Lets take a look at the top altcoins that have outperformed Bitcoin so far this year, courtesy of Mesari.io.

As you can see, the top-performing altcoins in January are Bitcoin SV, Dash, Bitcoin Gold, Ethereum Classic, and Zcash.

However, looking at the last column, with the exception of Bitcoin SV, most altcoins are still well below their all-time highs versus Bitcoin.

Nevertheless, today my goal is to look into which altcoins might help you increase your Bitcoin portfolio in the short term.

During January 2020, some altcoins doubled in price versus Bitcoin, meaning you could conceivably greatly increase your Bitcoin holdings if you spread your investment out to include some top-performing altcoins and then convert your profit back into Bitcoin.

As always, the views in this article should not be considered financial advisement. The volatility of the crypto markets means money can easily be lost. Never invest more than you can afford to lose and always do your own due diligence.

Lets take a look at the top three coins of January 2020: Bitcoin SV (BSV), Dash (DASH), and Bitcoin Gold (BTG).

Above we can see the chart for Bitcoin SV vs Bitcoin, courtesy of TradingView. BSV has been performing quite well versus BTC in 2020 so far.

At the time of writing, BSV has pumped from 1,300,000 sats to nearly 3,300,000 since the start of the year. That represents a 153% gain since early January 2020.

All of Bitcoin SVs EMAs are currently spiking as well, and the 20-day EMA has crossed both the 50-day and 200-day EMAs. If the trend continues, I expect BSV to continue making new highs.

In my last BSV price analysis, I underlined how the next target was around 3,400,000 sats. It seems BSV is coming close to breaching said target to keep the positive momentum going a bit longer.

As long as volume does not decline too much, I dont see a reason why BSV couldnt keep pumping over the next few months.

Story continues

Dash is a popular altcoin among a great deal of cryptocurrency investors and traders.

Since its early DarkCoin days, Dash has been attempting to solve scalability and privacy two major issues for many crypto-enthusiasts.

Looking at the chart above, again courtesy of TradingView, we can quickly see Dash has been performing quite well during January 2020.

Essentially, the altcoin has grown close to 135% in the span of 30 days against Bitcoin, going from around 600,000 sats to 1,600,000 sats.

If the altcoin is capable of sustaining its current volumes and stays above the 200-day EMA (blue line), we could see its momentum keep going for longer.

Much like Bitcoin SV, Bitcoin Gold is yet another hard fork of the Bitcoin Core software.

Since early January 2020, BTG has grown over 80% versus BTC. At its height two weeks ago, the altcoin peaked close to 130%. Price now seems to be struggling to maintain its positive momentum.

If BTG is capable of sustaining its price above the 200-day EMA, we could see new highs for Bitcoin Gold.

At the moment, BTG is trading close to 136,000 sats. If the altcoin breaks to the upside, we could see 200,000 sats soon, since the volume profile shows little resistance until then.

If the opposite happens, BTG could drop down to its 50-day EMA at around 105,000.

Safe trades!

Disclaimer: The views expressed in this article are the authors only.This article isnt financial advice or promotional material; it represents my personal opinion and should not be attributed to Coin Rivet.

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Bitcoin [BTC] Avoids a Price Squeeze to $9,000, as Tesla Soars over Bleeding Shorts – Coingape

Posted: at 9:47 am

Bitcoin [BTC] price looked prime for a run up to the $10,000 mark. The uncertainty in the market was palpable as the open interest and long orders continued to rise. However, while Bitcoin [BTC] ranged around $9350-$9600, Tesla [TSLA] logged a high at $650 on Thursday.

Reportedly, a 11% rise in Tesla yesterday caused a short order liquidation of more than $1.5 billion. The price has been in an uptrend since October last year.

Moreover, $TSLA has soared more than 52% in the month of the January alone. The compiled liquidations of betting against Tesla has risen to $5.2 billion for the year.

The CSO of Coinshares, Meletem Demirors, leading digital assets firm in the US tweeted, on the success of tech assets like Tesla shares, Bitcoin prices including Beyond Meat, the vegan substitute of meat. She tweeted,

On the other hand, crypto traders went on compiling long-orders looking for a breakout. However, the price got rejected from the resistance around November highs at $9590.

The Open Interest (OI) in Bitcoin [BTC] swept above $1 billion on BitMEX. Historically, such high levels of open market orders often makes it susceptible to huge volatility movements on the opposite side of the bets.

Nevertheless, while there was quite a bit of uncertainty, the price did not deviate much from the $9400 mark. The overall bias technically and with strong fundamentals are still bullish.

The futures Open Interest on Huobi and Okex is rising as well. on Okex, the funding and BTC basis is positives signalling a long inclination as well.

Surprisingly, on Huobi, while the overall position seems balanced (50-50%), there is a majority traders looking for a correction.

The price of Bitcoin [BTC] at 4: 40 hours UTC is $9400. The swing lows are near $9153, while the high is near $9590.

Do you think Bitcoin [BTC] will reach 10,000 or long orders will get squeezed? Please share your views with us.

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Bitcoin [BTC] Avoids a Price Squeeze to $9,000, as Tesla Soars over Bleeding Shorts

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Bitcoin [BTC] price looked prime for a run up to the $10,000 mark. The uncertainty in the market was palpable as the open interest and long orders continued to rise. However, while Bitcoin [BTC] ranged around $9350-$9600, Tesla [TSLA] logged a high of $650 on Thursday.

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Nivesh Rustgi

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Crypto Whale Loads 2,000 Bitcoin (BTC) on Binance As Traders Track 250,000,000 XRP on the Move – The Daily Hodl

Posted: at 9:47 am

As Bitcoin continues its steady climb toward $10,000, crypto traders are closely watching whale movements connected to the leading cryptocurrency.

Hours ago, a large Bitcoin holder moved 2,000 BTC worth $18.6 million onto the crypto exchange Binance where it could potentially be sold for altcoins or cash.

The 2,000 BTC is only part of the whales total Bitcoin holdings. The owner still has 4,053 BTCremaining in the original wallet.

So far, Bitcoins price remains undeterred. The king of crypto is up 0.42% at $9,352, according to COIN360 at time of publishing.

The rest of the market is rising alongside BTC, with Ethereum (ETH) up 4.86% at $182.36, XRP up 3.12% at $0.2412 and Bitcoin Cash up 0.03% at $384.58.

Meanwhile, the XRP community is monitoring an ongoing series of large transfers involving the South Korean cryptocurrency exchange Bithumb.

In the last 24 hours, 250,000,000 XRP worth $60 million left a known wallet owned by Bithumb and was sent to a separate wallet that was activated by the exchange. It happened in two separate transactions, with the first moving 100,000,000 XRP and the second moving 150,000,000 XRP.

The movements could either be Bithumb shifting its own funds around or the sale of XRP to a user or institutional player on its exchange. Last week, Bithumb sent 212,000,000 XRP from the same wallet.

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