About a week ago I pointed out the descending triangle bitcoin price was saddle within. Since that time price action has gotten tighter and tighter.
Generally so sort of catalyst props a push either higher or lower to break out of the formation.
Bakkt Launches Tomorrow
I don’t know that this will cause a spark or not immediately, but it could have some impact over the course of a few days as positions are established.
The beauty of Bakkt is….
There actually has to be bitcoin used to physically settle futures contracts. As opposed to cash settlement where no bitcoin ever needs to actually be in play.
So, even though one can use margin for futures positions. At the end of the day (or contract I should say) physical bitcoin is technically supposed to be delivered.
Given that institutions generally play in the futures market and Bakkt will also provide custody accounts it makes sense that this will drive more demand for bitcoin investing.
I guess we will see come this time next week what kind of impact it has.
IOTA seen from the temporality of 1D we can see how the structure of candles during the previous LL formed a downward parallel channel where it has finally broken it up and tested correctly to then see the current bullish impulse of the current candle which has found resistance at 0.3161, the candle is forming a doji, a bearish signal by which we must prepare for a retreat to the nearest demand level located at 0.2716, the wick has already touched that point, however, we need a candlestick approach in order to determine if the price will continue to rise beyond resistance, in the chart above I have drawn the possible trajectory that the price should follow during its advance to our first target which is located within the price range of 0.3797 – 0.4034.
IOTA seen from the temporality of 1W we can see a broader view of the current price movement, in the image above we can see how the price has formed us an HL, marked on the chart with the diagonal trend of dark blue, after two candles bullish low volume, this week the candle has “shot” powerfully, the consolidation within this range has been long throughout this year, which gives us an indicator that in a short time we could see an upward break in the resistance of the figure we see in the graph, for this to happen we would have to mark an HH and a new HL above the resistance located at 0.3161, if this happens, the alarms on a much larger next bullish move will be very high, the next profit targets are indicated within the chart, with the second target located at 0.7202 and the third target located within the price range of 0.9348 – 1.0904.
In conclusion, the IOTA price has moved very well this week, it needs to stay above 0.2716 and above the diagonal support if we want to continue seeing a next bullish candlestick, otherwise the price could fall towards the area of possible pullbacks indicated in the 1W chart, the bullish possibilities are greater than the bearish ones, as we must always be attentive to the action of the price in 1D and 4H and look for the best entry, I also recommend to be attentive to the action of the BTC price, as the price position is not yet decided, so any jolt on the part of BTC would affect the whole market.
As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.
Hong Kong-based venture capital group CMCC Global launched its Liberty Bitcoin Fund to provide crypto currency access to accredited investors in Asia who are very interested but have been slow to buy the coins directly.
The Liberty Bitcoin Fund is a single-asset passive tracker of Bitcoin and offers services including buying and safekeeping coins.
“We have received more and more questions over the years from our existing investor base about whether we could help them buy Bitcoin,” Martin Baumann, managing partner of CMCC Global, told CoinDesk. “The new fund is really a demand-driven.”
EOS is the world’s seventh-largest blockchain by market cap, with a value topping $3 billion since February 2019. However, the project has long been plagued by fears that its structure was too centralized, and now the lion’s share of entities that govern the chain are in China, prompting fears of state intervention.
EOS contributors devoted to building decentralized apps (dapps) and development tools for the blockchain are losing clout – and making little or no money from contributing to the health of the ecosystem. One of them publicly disavowed the blockchain earlier this month, citing the excessive power of the largest EOS token holders.
Block.One, the company that launched the code behind EOS following a $4.1 billion ICO, is the largest token holder. Critics say it could easily redefine governance on the chain but has yet to take action.
For the past few days, the price of Bitcoin (BTC) has been hovering above the 20 Moving Average (MA) and drawing closer to the moving average as volume continued to taper off and lower highs were set each day.
The digital asset began to look bearish on multiple time frames and it seemed that a downward move was more likely than any other outcome. Once the 12 Exponential Moving Average (EMA) dropped below the 26-EMA on Sept. 16, aggressive intraday traders correctly predicted a double bottom bounce at $10,075.
Crypto exchange Binance is planning to add over-the-counter (OTC) trading to its platform in a month to provide users with fiat currency gateways.
Binance’s co-founder and chief marketing officer He Yi said at a media session on Tuesday during the Shanghai Blockchain Week that the exchange will specifically support fiat on-ramp via OTC for Chinese yuan.
He added that the new service will be part of Binance’s plan in the coming months to dedicate more time and resources to compete in the Chinese market. Further, the exchange is also rolling out a payment service to allow users from 170 countries to buy crypto assets using fiat currencies at Binance.com.
Fiat-to-crypto OTC trading has been a critical part in terms of fiat on-ramp for crypto traders based in China as local authorities prevent the direct connection of exchanges to banks and fiat deposits as part of the ban on initial coin offerings in September 2017.
The United States Securities and Exchange Commission (SEC) has sued ICOBox and its founder Nikolay Evdokimov for conducting an illegal securities offering and for acting as unregistered brokers.
SEC says ICOBox’s digital tokens are worthless
In a press release on Sept. 18, the SEC claimed that ICOBox and Evdokimov sold the firm’s ICO tokens to more than 2,000 investors in an unregistered coin offering in 2017.
The SEC goes on to say that the defendants claimed that the tokens would increase in value upon trading and that ICO token holders would be able to swap them at a discount for other tokens promoted on the ICOBox platform. The SEC claims that the ICO tokens are now virtually worthless, adding:
“By ignoring the registration requirements of the federal securities laws, ICOBox and Evdokimov exposed investors to investments, which are now virtually worthless, without providing information that is critical to making informed investment decisions.”
“The next meeting is to be held at LTO office, and results to be presented on September 19.”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
Yesterday I was talking to you about a W pattern which is a bullish signal. Look today the acceleration of the move. We could go test the resistance line at 0.178$ very soon and it would be a very good news if we can break it. Let’s wait my friends and let’s hope the BTC won’t correct in the coming days.
Bitcoin (BTC) could soon shoot to $20,000 as a result of emergency measures from the United States Federal Reserve, also known as The Fed, one of the industry’s biggest firms has said.
Fed echoes 2008 crisis moves
In a tweet on Sept. 18, Arthur Hayes, CEO of derivatives giant BitMEX, forecast that fresh quantitative easing (QE) would further decrease faith in fiat currency.
The comments come a day after the Fed swooped to decrease interest rates on some loans which reached more than 10%, or four times its target. More than $53 billion was pumped into the economy.
“QE4eva is coming. Once the Fed gets religion again, get ready for #bitcoin $20,000,” Hayes wrote.
The Fed’s QE injection marked its first emergency intervention since the end of the 2008 financial crisis, an event directly leading to Bitcoin’s creation.
Bitcoin has dived out of a narrowing price range and may see a deeper drop if key trendline support near $10,120 is breached.
Acceptance below $10,120 would expose the recent low of $9,855.
Some notable observers believe the decline may be reversed following Wednesday’s Federal Reserve rate cut, although historical data suggests otherwise.
On the higher side, $10,956 (Aug. 20 high) remains the level to beat for the bulls.
The number of Bitcoin (BTC) wallet addresses holding a minimum of 10 BTC — worth over $100,000 to press time — has hit an all-time high, multiple data sources reveal.
According to BitInfoCharts’ Bitcoin Rich List, as of Sept. 17, there are 157,210 addresses holding between 10 and 1,000,000 BTC.
Earlier this month, Coin Metrics’ State of the Network report had plotted the latest data historically to reveal that these mega-holders are at an all-time high for the network.
Binance.US, United States branch of major cryptocurrency exchange Binance, announced that the opening of accounts registration, scheduled for Wednesday, will not include New York, Washington, Florida and 10 more states.
According to the blog post published on Sept. 17, registration will start at 8 a.m. ET on Sept. 18 in most U.S. states, excluding the following: Alabama, Alaska, Connecticut, Florida, Georgia, Hawaii, Idaho, Louisiana, New York, North Carolina, Texas, Vermont and Washington. The post continues:
“Although it is upsetting that we cannot offer Binance.US in [these] states […] at this time, please rest assured that this is just the beginning, and it is our mission to bring access to those of you in these states many of us call home.”
Employees at cryptocurrency news publication CoinDesk were told Tuesday that the firm is moving into office space in the same building as its parent company, Digital Currency Group (DCG), a transition that will take place in March 2020.
In an email sent to employees, his first ever to CoinDesk’s entire staff, DCG founder and CEO Barry Silbert outlined four reasons for the move, vowing that while seeking to create new business synergies with the media company, one of three wholly-owned subsidiaries, the parent would continue to respect and strengthen the editorial independence of the publication, founded in 2013.
The other two subsidiaries, Grayscale Investments and Genesis Trading, work out of the DCG office building in Manhattan.
DeFi Asia in Shanghai from 2:30 – 5:30 PM (CST), co-hosted by Harmony, Findora, and Algorand.
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
What a nice pattern that we have on the STEEM. We have a W pattern or a double low if you prefer that we can clearly see on the chart. For the one who still don’t know that pattern, it is a bullish pattern ! It looks like that the Alt Coins are taking back some percenst of the global market compared to BTC. We are still far from the Alt Season that we experienced back but it could be the start… why not ? Regarding the STEEM, let’s see if we can go test the resistance line in red around 0.178$.
As I wrote in previous blog posts, I reinvested in STEEM ahead and after the HFs.
After cruising, interacting and curating Steemians posts, I can say now I like the #newsteem better than the old one. This is a feeling but I believe people came back to the platform and interractions / payouts are less skewed thanks to some bots switching to curation and some whales “playing the game”.
Below I am going to share with you some datas that I believe should make us optimistic about STEEM future.
The number of Bitcoin (BTC) wallet addresses holding a minimum of 10 BTC — worth over $100,000 to press time — has hit an all-time high, multiple data sources reveal.
According to BitInfoCharts’ Bitcoin Rich List, as of Sept. 17, there are 157,210 addresses holding between 10 and 1,000,000 BTC.
Earlier this month, Coin Metrics’ State of the Network report had plotted the latest data historically to reveal that these mega-holders are at an all-time high for the network.
Cryptocurrency exchange Binance, the world’s largest by trading volume, has made a strategic investment in Chinese media and data source Mars Finance.
According to a report from Bloomberg citing a press release, the investment amount was not disclosed, but values the company at $200 million.
Aside from Binance, which reportedly made its first strategic investment in China with the round, Beijing-based Mars Finance was also backed by Ceyuan Ventures and Matrixport, a financial services startup founded by co-founder of bitcoin mining firm Bitmain, Jihan Wu.incorrectly applied.
The United States Army Contracting Command (ACC) of New Jersey has issued a pre-solicitation notice for cryptocurrency investigation service providers.
As a pre-solicitation, posted on July 25, the notice and the ACC’s responses do not bind ACC to solicit or award a contract.
For use in criminal investigations
According to the ACC, the cryptocurrency analytics solution is being sought for use by the U.S. Army Criminal Investigation Command (USACIDC) for use in criminal investigations and other missions.
The notice outlines that the contractor must provide a cloud-based, online service — not reliant on hardware or software — that can assist law enforcement in identifying and pursuing actors using cryptocurrencies for illicit purposes such as fraud, extortion and money laundering.
“We are proud to announce that BiblePay will be listed on TOKOK on September 17th!”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
Today, we tested and broke the support line at 0.155$ during some hours but it looks like the market want come back upper than this line. We need to check now if this is not a pull back before the continuation of the drop or if that break was just a trap from the market to buy some steems at a very good prive. Let’s see if the current candle will close upper or lower than the support line at 0.155$.
History looks to be repeating itself in the bitcoin market, as a key indicator’s bullish turn could mark the beginning of the next meteoric price rally.
The world’s most valuable cryptocurrency’s price action seen over the last eight months is very similar to the moves seen in 2015, according to Bitstamp data. For instance, the bitcoin bear market ended near $3,100 in mid-December 2018 and prices built a base below $4,000 in the following three months before breaking into a bull market on April 2.
Notably, the bear market drop ran out of steam two months before the 50- and 10-week moving averages confirmed a bearish crossover (in February 2019).
The CEO of cryptocurrency exchange Binance has dispelled fears a bad actor had attacked its newly-launched Bitcoin futures platform.
Technical error crashed Bitcoin price
In a series of tweets on Sept. 16, Changpeng Zhao, also known as CZ, initially warned that the exchange’s futures were under attack from one of its own market makers.
The perpetrator allegedly crashed the BTC/USD order book from $10,324 to $10,024, in what Zhao said was the second such attempt at an attack.
Binance launched its futures platform in invite-only mode following a user testing period earlier this month. Two platforms were originally available, with users voting for their preferred choice.
The computing power dedicated to mining bitcoin has hit yet another new high, suggesting that more than 600,000 powerful new machines may have come online in the last three months.
According to data from crypto mining pool BTC.com, bitcoin’s two-week average hash rate has crossed another major threshold, reaching 85 exahashes per second (EH/s) around 19:00 UTC last Friday. Meanwhile, mining difficulty also adjusted to a new record of nearly 12 trillion.
Notably, both figures have jumped 60 percent since June 14, the data shows.
Bitcoin’s mining difficulty – a measure of how hard it is to create a block of transactions – adjusts after 2,016 blocks, or roughly every two weeks. This is to ensure the time to produce a block remains around 10 minutes, even as the amount of hashing power, deployed by machines around the globe competing to win freshly minted bitcoins, fluctuates.
Most of us think we understand the term “volatility.”
We digest headlines about tense political situations around the world; we are wary of explosive chemical compounds; some of us have had relationships with their fair share of ups and downs.
“Volatility” implies sharp and unpredictable changes, and usually has negative connotations. Even when it comes to financial markets, we intuitively shy away from investments that would produce wild swings in our wealth.
But volatility, in finance, is usually misunderstood. Even the most commonly accepted calculation is often incorrectly applied.
The South Korean arm of cryptocurrency exchange OKEx is removing support for five major altcoins due to new international regulations.
FATF rules halt privacy coins trading
According to crypto news outlet The Block on Sept. 16, OKEx’s Korea unit will halt trading of Monero (XMR), Dash (DASH), Zcash (ZEC), Horizen (ZEN) and Super Bitcoin (SBTC) on Oct. 10.
The reason, says the exchange, is that as since they are focused on privacy, the coins fall foul of new guidelines set out by the intergovernmental body the Financial Action Task Force, or FATF.
As Cointelegraph reported, the sweeping changes to crypto transaction rules demand businesses to identify the two parties sending funds to each other if a transaction is worth more than around $1,000.
“I would like to inform you regarding the upcoming hard fork. I have decided to implement it on block 216000 (approx 16th of sept).”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
Today, we continued the bounce started yesterday. We have higher lows so the trend is not broken, even we have a low volatility. I think most of altcoins are also waiting to see the direction that the BTC will take and this is why most of coins are very quiet these last hours. However, there is nothing negative for the STEEM today, exactly like yesterday, se we can again enjoy about these positive news.
Saturday, Sept. 14 — The top 20 cryptocurrencies are reporting mixed movements on the day while Bitcoin’s (BTC) price hovers over the $10,300 mark by press time.
The price of Bitcoin is currently up by 0.13% on the day, trading at around $10,313 at press time, according to Coin360. Looking at its weekly chart, the coin is down by about 0.46%.
eToro, an Israel-based exchange platform, revealed a new programming language designed to simplify derivatives trading.
Speaking ahead of the Ethereal Summit Tel Aviv 2019, on Sunday, chief blockchain specialist Omri Ross said the language, dubbed Lira, will reduce the risks involved in settling financial contracts and enable the creation of new derivative products from assets on the ethereum blockchain.
A demo trading platform, built by eToroX Labs, was also revealed to enable retail and institutional investors to begin trading derivatives. The platform uses Lira to test a full range of contract experimentation. The language opens up the possibility to set varying time limits on trades, trustlessly swap different cryptocurrencies and write complex settlement terms.
United States-based major cryptocurrency exchange Coinbase announced that its professional trading platform Coinbase Pro will launch support for DASH token next week.
According to a Medium post published by Coinbase on Sept. 12, Coinbase Pro will start accepting DASH deposits starting Monday “for at least 12 hours prior to enabling full trading.” The launch of DASH trading, on the other hand, is planned for 9 AM Pacific Standard Time on Sept. 17. The company also noted:
“Once sufficient supply of DASH is established on the platform, trading on the DASH/USD, and DASH/BTC order books will start in phases, beginning with post-only mode and proceeding to full trading should our metrics for a healthy market be met.”
United States Treasury undersecretary Sigal Mandelker stated that cryptocurrencies could become “the next frontier” in the war on terrorism. According to a press release published on the U.S. Treasury’s website on Sept. 11, Mandelker made her remarks during the 19th annual international conference on counterterrorism.
Cash is still predominant
While Mandelker admitted that most terrorist organizations still rely on various traditional means of financing such as cash, she also said that she believes crypto could become “the next frontier”:
“Terrorist organizations and their supporters and sympathizers are constantly looking for new ways to raise and transfer funds without detection or tracking by law enforcement. While most terrorist groups still primarily rely on the traditional financial system and cash to transfer funds, without the appropriate strong safeguards cryptocurrencies could become the next frontier.”
There’s now an underground service catering to criminals that lack the skills or nerve to hack into online accounts to steal funds.
According to a September report from security-as-a-service firm Armor, hackers on dark markets are now selling fiat cash for fractions of its worth to avoid the risk of dealing with the money themselves.
Armor’s Threat Resistance Unit (TRU) research team said in the report:
“There are plenty of hackers willing to simply transfer stolen funds to the bank account or PayPal account of your choice or send you the funds via Western Union.”
“#Aeternity Universe One #Haeckathon starts on Saturday and guess who will be mentoring the participants?”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
Today, we had a new bounce from the low around 0.154$. This is validating again this support line and showing that sellers have difficulties to go under this support. It could finish to give a nice opportunity for the buyers to start a nice move on the STEEM. Let’s stay positive and enjoy every little bounce on the STEEM.
History looks to be repeating itself in the bitcoin market, as a key indicator’s bullish turn could mark the beginning of the next meteoric price rally.
The world’s most valuable cryptocurrency’s price action seen over the last eight months is very similar to the moves seen in 2015, according to Bitstamp data. For instance, the bitcoin bear market ended near $3,100 in mid-December 2018 and prices built a base below $4,000 in the following three months before breaking into a bull market on April 2.
Notably, the bear market drop ran out of steam two months before the 50- and 10-week moving averages confirmed a bearish crossover (in February 2019).
Square’s cryptocurrency-friendly payment app Cash App is reportedly testing a new feature allowing customers to buy and sell stocks.
Expanding Cash App Citing a source familiar with the matter, Bloomberg reported on Sept. 12 that the San Francisco-based startup’s employees began testing the new feature in recent weeks. Once released, it will allow Cash App users to make free stock trades. Square has reportedly not yet determined the exact date of the new option launch.
N.B: My main sources of datas changed the way they
calculated and estimated the datas. Therefore, this report might not be
comparable to the previous one. Nevertheless they also adjusted all the
past datas to make it comaprable.
I] Traffic
Daily SteemMonsters Traffic
SteemMonsters Daily Traffic kept on improving since the launch to reach close to 10k daily visits in August 2019.
My assumptions for August 2019
Total visits to SteemMonsters.com: 136.8k
Assumption of Total unique visitors in August: 15-20k
Total Daily visitors: 5-6k
Assumption of Total Daily Unique visitors: 2.5-3k
SteemMonsters Market Cap is Healthy and at an ALL TIME HIGH !
This is a collective achievement and I would like to congratulate all of us! We need to continue helping @yabapmatt to grow this platform
If you are one of the 2.4 billion active Facebook users, the probability that your data has been leaked is around 17%, given the recent news of 419 million accounts being exposed. This means that, unless something changes, every sixth active user could lose control over their personal data. Again and again, no matter the government or the company managing personal data or how secure their systems are, personal data leaks happen all the time. But what are the fundamental problems of centralization and how can we rescue our data from criminals, greedy marketers and corrupt governments?
Leaks are inevitable
The last two weeks have brought us tremendous news about leaks. The most recent concerning the aforementioned database of 419 million Facebook accounts was found available to download on the internet and complete with details such as names, phone numbers, gender and country of residence. A while ago, Mastercard officially reported about 90,000 exposed accounts to European Union authorities.
The United States Treasury Department announced further sanctions against three North Korean state-sponsored hacker groups, responsible for “North Korea’s malicious cyber activity on critical infrastructure.”
Continue to enforce existing U.S. and U.N. sanctions against North Korea
On Sept. 13, the U.S. Department of Treasury announced sanctions against North Korean hacking groups, more specifically the renowned Lazarus group, and two lesser-known entities, Bluenoroff and Andariel. Sigal Mandelker, Treasury Under Secretary for Terrorism and Financial Intelligence said:
“Treasury is taking action against North Korean hacking groups that have been perpetrating cyber attacks to support illicit weapon and missile programs. […] We will continue to enforce existing U.S. and UN sanctions against North Korea and work with the international community to improve cybersecurity of financial networks.”
“#Aeternity Universe One #Haeckathon starts on Saturday and guess who will be mentoring the participants?”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
Today, we continued to test the support line around 0.154$ anf it starts to look good for buyers because sellers canot break this low. The market is becoming more and more nervous and we should have a major move in one of the direction soon.
If the BTC is not massively correcting, we could have a nice surprise on the STEEM because sellers start to have difficulties to continue their drop. In case of a correction on the BTC, we could break that support line but it will be the case of most altcoins.
The ups and downs on bitcoin have progressively scene smaller swings over the past couple months.
After topping out in late June price has made lower highs at the peak of moves while holding support at the 9400 or 9800 level.
This has created a descending triangle pattern.
As you can see looking at the chart we are getting closer and closer to the apex of that triangle, meaning price action is getting tighter and tighter.
It’s just a matter of time until we get a move breaking out of breaking down from this pattern.
Who knows, it could be the catalyst to some volume coming in for some real price movement.
I’m not going to speculate on which way it will resolve. I just know if we break 9400 I will be buying at 8500, assuming it gets there.
If price breaks higher than I will look for a buying opportunity most likely on a break of 11,000. Though I prefer to wait for a pullback after any push. Sometimes you don’t get it though.
