We saw some interesting activity in the Bitcoin markets this week. During the first half of the week, we saw a run-up to $460, followed by a few days that made us think that $460 might be a new sticking point in the market. Those notions were dashed during the latter half of the week though, as the price starting falling on Christmas night, hitting a low of $407. A late-week recovery brought the price back up, though, and overall we saw a 2.63% decline over the entire week. http://bitcoinist.net/weekly-news-re-hash-factom-lies-bitcoin-price-falls-christmas/ |
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A new multi-function platform is coming to the crypto-realm offering an array of services. Bitalo the “highly secure trading environment” is a platform that promotes the use of Bitcoin as the number one currency. The team says it’s a service that offers a product marketplace as well as a fully functioning exchange among it’s many features. The creators say: “Bitalo provides the full infrastructure for a full Bitcoin economy that uses Bitcoin as trusted and independent currency.” http://bitcoinist.net/bitalo-infrastructure-for-a-full-bitcoin-economy/ |
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Coinbase is a bitcoin wallet and exchange company headquartered in San Francisco California, founded by Brian Armstrong and Fred Ehrsam. It operates exchanges between bitcoin and fiat currencies in 32 countries, and bitcoin transactions and storage in 190 countries worldwide. Coinbase has three core products: an exchange for trading bitcoin and fiat currency, a wallet for bitcoin storage and transactions, and an API for developers and merchants to build applications and accept bitcoin payments. http://www.techworm.net/2015/12/hacker-ddos-coinbase-website-down.html |
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The U.S. dollar has had a nice run. It's been the talk of global currency trading all year long. And why not? After years of a weak greenback due to dovish Federal Reserve policy, the Dollar Index has extended big 2014 gains, up near-9 percent against a basket of major world currencies this year. Some individual currency trades, like USD/Brazil Real, have netted currency investors huge returns. http://www.cnbc.com/2015/12/28/only-one-global-currency-trounced-the-dollar-this-year.html |
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6 months after first releasing its IPO prospectus, Melbourne-based cryptocurrency miner, Bitcoin Group, has released its second replacement prospectus. Since June, the company has released 6 versions of its prospectus as it sought to explain its business, address concerns raised by ASIC and delay the listing date. The company has included a report from an independent expert in the latest prospectus, to allay concerns raised by ASIC surrounding bitcoin mining. http://www.businessinsider.com.au/bitcoin-group-has-released-yet-another-prospectus-2015-12 |
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Bitcoin traders got some much needed volatility on the day after Christmas. The Friday session was a dud, with prices not moving much except some brief spikes around OKCoin futures settlement. But in the next few hours of the new session BTC/USD dropped $14 dollars to $441 on OKCoin and around $12 dollars on other exchanges. We are currently quoted at $440.93 on OKCoin, $445.44 on Bitfinex and $443.03 on BTC-E. - See more at: http://www.forexnews.com/blog/2015/12/26/bitcoin-falls-on-the-day-after-christmas/#sthash.zSGte6fW.dpuf |
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Bitcoin is on course to end this week on a bearish note, losing roughly 5% from its previous weekly close of $442. The cryptocurrency failed to cross the resistance posed by the peaks of the past couple of weeks and faltered. Post the sell-off, bitcoin is trading at $419.69. The sell-off occurred yesterday as market participants got tired of the extended consolidation and booked profits. The weekend weakness will make it tough for bitcoin to regain lost ground very soon. It may even witness further price depreciation as it has violated the support lent the low of the last week i.e. $428.42. http://www.newsbtc.com/2015/12/27/bitcoin-weekly-price-technical-analysis-more-losses/ |
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Financial technology startups in India are welcoming a contest to find financial technology solutions announced by the Reserve Bank of India (RBI), according to Business Standard, an Indian newspaper. The purpose of the competition is to develop technologies that reduce transaction costs, prevent financial fraud and develop India’s e-commerce infrastructure. The bank’s Institute for Development and Research in Banking Technology (DRBT), which is organizing the contest, invites groups, individuals and startups to participate. The contest will reward participants with a small cash prize and citations. It will also provide a chance to present ideas to industry representatives. A panel of financial experts will evaluate the entries. https://www.cryptocoinsnews.com/fintech-startups-applaud-reserve-bank-indias-contest-financial-solutions/ |
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Summary The year-end correction was strong but soon found technical support. While we may not yet have seen the final low, there is no evident reason for the market to engage in persistent selling. The prospects for Bitcoin have neven looked better and 2016 is certain to see some spectacular highs. In the meantime we wait for the best trades. https://www.cryptocoinsnews.com/bitcoin-price-in-tentative-recovery/ |
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Australian bitcoin miner Bitcoin Group has released another prospectus, now filed with the Australian Securities and Investments Commission (ASIC), a move that also saw the company postpone its initial public offering on the Australian Securities Exchange (ASX). Cryptocurrency miner Bitcoin Group has released yet another prospectus while delaying its listing on the ASX to address concerns put forth by the ASIC. The company was asked by the commission to appoint an “appropriately qualified independent expert” to explain the bitcoin mining process involved in mining the cryptocurrency. The expert was also requested to verify the bitcoin mining equation present in the Australian miner’s earlier prospectus to assess the feasibility of the operation. https://www.cryptocoinsnews.com/bitcoin-group-releases-new-prospectus-delays-ipo/ |
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Conclusion The Christmas didn’t turn out to be merry for the bulls, and it looks like that with the majority of the market participants enjoying the year-end festivities, the cryptocurrency might not cross $465 in haste. The technical indicators are clearly reflecting the bearish undertone. I expect a broad range of $400-465 for bitcoin until the end of next week. Short bitcoin if the price reaches $465 or if it breaks the crucial support of $400. Long positions can be considered above $433 for a target of $455. http://www.newsbtc.com/2015/12/28/bitcoin-price-technical-analysis-for-28122015-watch-these-resistances/ |
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A degree of infighting has shocked the Bitcoin community as individuals with different ideas clash over the direction in which the Bitcoin protocol should evolve (or be evolved). With the disappearance of Satoshi Nakamoto, Bitcoin has long celebrated its leaderless organization. In 2015, this lack of leadership led to a lack of direction in the Bitcoin community concerning its core protocol. https://www.cryptocoinsnews.com/infighting-is-good-for-bitcoin/ |
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It was an eventful long weekend for Bitcoin. On Christmas Day, it reached a symbolic milestone when the 100 millionth transaction was recorded on its network. The number of transactions per day has been steadily growing over time. The phenomenon is interpreted by some as evidence of the increasing adoption of Bitcoin, though most of the transactions are not commercial in nature. During the past year, the growth profile is slightly steeper than linear; the count nearly doubled. Over a 5.5-year period, the total increased 100-fold. http://www.financemagnates.com/cryptocurrency/news/bitcoin-hit-100-million-transactions-and-15-million-coins-on-christmas/ |
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This is the second article in a three-part series on whether or not Bitcoin makes a good investment. Read the first, detailing 10 arguments in favor, here. Disclosure: I own a small number of Bitcoin. In 2015, venture capitalists poured more money into Bitcoin than ever before, but many such investments were centered around the underlying technology, called the blockchain. Meanwhile, the currency languished in the $200-$300 range for most of the year (after hitting highs north of $1,000 in late 2013), but in the last few months, Bitcoin has not only risen but broken through the $400 barrier in the last couple weeks and stayed there. http://www.forbes.com/sites/laurashin/2015/12/28/should-you-invest-in-bitcoin-10-arguments-against-as-of-december-2015/ |
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In a general sense, banks purring over the technological advancements Bitcoin’s blockchain technology provide is a good thing. After years of banks deriding anything having to do with Bitcoin, after years of exchange risk, fraud, and failure, and years of mainstream doubt and ignorance, the love has helped the Bitcoin community with a sense of redemption. The banking elite will never admit they were wrong about Bitcoin. In fact, they may see a way to use their newfound adoration as a way to upset Bitcoin’s apple cart, in the long run, through the burgeoning R3 consortium. Overstock CEO Patrick Byrne recently made some strong assertions at the Blockchain Agenda Conference last week in San Diego. A one-time applicant to join the ever growing R3 partnership, he now has a more nuanced perspective of the financial group from the outside, looking in. “What’s happening is Wall Street is trying to slow us (his new T0 company) down while they come up with their own version, and that’s, I think, R3. That’s a consortium that’s really going to be there — so Wall Street comes up with their own version, and then they’re going to outlaw [the competition]. So really be alert for R3.” http://www.newsbtc.com/2015/12/23/will-the-r3-banking-consortium-become-the-new-bitcoin-regulators-op-ed/ |
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Its been a strange week in the bitcoin price/cryptocurrency trading space. Without any real fundamental catalysts, the bitcoin price has both gained and lost strength, and in doing so, given us some nice volatility to trade on. Having said this, last night’s action has somewhat bucked the trend – the bitcoin price maintained a range and traded sideways. What implications this has for today’s action is unclear as yet – though it does give us some concrete levels to keep an eye – and in turn – to strategize based upon – as we head into today’s European session. We’re going to bring our intraday breakout strategy into play today, but our predefined range is a little tight to attempt any intrarange trades, so breakout is all we’ve got on today’s action. So, as we head into a fresh European session on Wednesday, what are the levels we are looking at during today’s session, and where will we look to get in and out of the markets on any volatility? As always. Take a quick look at the chart to get an idea of our predefined range. http://www.newsbtc.com/2015/12/23/28097/ |
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100 4-h SMA continues to provide cushion – Bitcoin touched a low of $433 yesterday, a level which we specifically mentioned as the key support for the cryptocurrency. The cryptocurrency should now tackle the immediate resistance from the 20 4-h SMA of $442.
Momentum – We also pointed out earlier that the Momentum has hit a bottom and that its value may cross 0 soon. The current value of Momentum indicator is 6.0700; a drastic improvement over its previous value of -12.7900.
Money Flow Index – The MFI has also seen a strong appreciation in its value to 46.3961. Relative Strength Index – The latest RSI reading of 43.8706 does not lend much confidence to the buyers but do watch out for a sharp jump. http://www.newsbtc.com/2015/12/23/bitcoin-price-technical-analysis-for-23112015-strong-positive-indications/
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