🤔When will the bleeding stop?🤔
Hello everyone,
The current price of Bitcoin is $3720, with roughly 6.3 billion in 24 hour volume. Bitcoin has dipped 20% further since our last update. The total market cap of crypto has shed nearly 90 billion USD in roughly 12 days, resulting in a 43% loss to the total market.📉
As of right now, we are still holding our low leverage shorts in order to achieve neutrality in terms of crypto exposure. This will allow us to maintain our buying power as crypto stabilizes or moves lower.
Our goal now is to maintain as much of our capital as possible so that we can implement a dollar cost averaging strategy. Dollar Cost Averaging is achieved by simply formulating a plan to use predetermined percentages of one’s capital to buy at select prices.
Our team will be utilizing this strategy because it is a more risk averse system for ‘catching the bottom’. We will release a more detailed DCA strategy this week.
On lower time frames, we see an opportunity for $BTC to experience a mini rally from here to the $4300-4500 levels, but will wait for more consolidation before reducing our short exposure. (See Chart Below)
At this point in time, it is clear that panic is gripping cryptocurrency investors and participants everywhere. Besides the extreme sell-off, there are reports of miners selling their rigs in mass quantities at a per/pound price. Every news outlet is seemingly covering the demise of crypto as prices continue to plunge.
Does this mean crypto is truly dying?
No! ❌
During Bitcoin’s ten year existence, the price of $BTC has suffered four bear markets that, in terms of percentage loss, were worse than the ongoing 2018 bear market. This is what is expected when dealing with emerging asset classes. A long-term perspective on this market is one we with you all to take,
If price action is what gives you comfort, then consider that even at these levels, cryptocurrencies are still the best performing asset class of the past five years.
A rush of institutional products are slated to be released in the early part of 2019 by financial industry leaders.
Mass media won’t stop discussing this industry because millions are now invested and looking for guidance.
Our long term outlook hasn’t changed despite the harsh climate of 2018. We are aligning ourselves with this industry for years to come as blockchain and cryptocurrency continue to reshape the world economy.
Hello everyone,
The current price of Bitcoin is $3720, with roughly 6.3 billion in 24 hour volume. Bitcoin has dipped 20% further since our last update. The total market cap of crypto has shed nearly 90 billion USD in roughly 12 days, resulting in a 43% loss to the total market.📉
As of right now, we are still holding our low leverage shorts in order to achieve neutrality in terms of crypto exposure. This will allow us to maintain our buying power as crypto stabilizes or moves lower.
Our goal now is to maintain as much of our capital as possible so that we can implement a dollar cost averaging strategy. Dollar Cost Averaging is achieved by simply formulating a plan to use predetermined percentages of one’s capital to buy at select prices.
Our team will be utilizing this strategy because it is a more risk averse system for ‘catching the bottom’. We will release a more detailed DCA strategy this week.
On lower time frames, we see an opportunity for $BTC to experience a mini rally from here to the $4300-4500 levels, but will wait for more consolidation before reducing our short exposure. (See Chart Below)
At this point in time, it is clear that panic is gripping cryptocurrency investors and participants everywhere. Besides the extreme sell-off, there are reports of miners selling their rigs in mass quantities at a per/pound price. Every news outlet is seemingly covering the demise of crypto as prices continue to plunge.
Does this mean crypto is truly dying?
No! ❌
During Bitcoin’s ten year existence, the price of $BTC has suffered four bear markets that, in terms of percentage loss, were worse than the ongoing 2018 bear market. This is what is expected when dealing with emerging asset classes. A long-term perspective on this market is one we with you all to take,
If price action is what gives you comfort, then consider that even at these levels, cryptocurrencies are still the best performing asset class of the past five years.
A rush of institutional products are slated to be released in the early part of 2019 by financial industry leaders.
Mass media won’t stop discussing this industry because millions are now invested and looking for guidance.
Our long term outlook hasn’t changed despite the harsh climate of 2018. We are aligning ourselves with this industry for years to come as blockchain and cryptocurrency continue to reshape the world economy.
🏦Euro Leaders Push Blockchain Initiative as the Carnage Stalls🏦
We hope you have all had a good week thus far🔥
The current price of Bitcoin is $3340 with 24 hour volume is leveling right around 4 billion USD. Since our last update, a week ago today, Bitcoin has dropped roughly $150 resulting in a 4.5% reduction. Volume has been diminishing significantly over the course of the past week.
Nearly a 33% drop off in volume has occurred as crypto markets have begun to momentarily stabilize.
Could this mean a bounce is in the cards?📈
Seeing as how the crypto markets have lost roughly 50% of its value in the past 30 days, a bounce in the near future seems likely. This being accompanied by the current range showing decent stability and gigantic sell volume subsiding offers some promise🙏
Once again, as crypto price action seems to drag on in no man’s land, the space is marching forwards as positive infrastructure continues to be put in motion.
🇩🇪Germany’s second-largest stock exchange, Boerse Stuttgart Group, is set to launch a cryptocurrency trading platform in the first half of 2019.
This is yet another call to action initiative being implemented by one of the world’s premiere financial institutions. These large financial magnates understand the promise of the blockchain space and the enthusiasm surrounding cryptos.
☝️The implementation of exchanges put in place under the names of reputable trading firms will provide investors more security and clout for the crypto space. This should eventually allow more and more individuals on an international scale to participate in the evolution of the blockchain community.
🐂 Consider for a moment that the last bull-run charge was led by the on-boarding of clients onto Coinbase’s platform. Now contemplate that the next bull run will have the internationally recognized brands of Nasdaq, NYSE, and Boerse Stuggart Group, to name a few, providing exposure to crypto. The brand reach there will be more extensive than anything that has ever existed in the space to date.
In the meantime, we will continue to use our Dollar Cost Average strategy outlined above to optimize our entry in a low-stress fashion.
This should once again provide us with exposure to crypto at levels that new entrants to the space in the coming years could only wish for🔥
We hope you have all had a good week thus far🔥
The current price of Bitcoin is $3340 with 24 hour volume is leveling right around 4 billion USD. Since our last update, a week ago today, Bitcoin has dropped roughly $150 resulting in a 4.5% reduction. Volume has been diminishing significantly over the course of the past week.
Nearly a 33% drop off in volume has occurred as crypto markets have begun to momentarily stabilize.
Could this mean a bounce is in the cards?📈
Seeing as how the crypto markets have lost roughly 50% of its value in the past 30 days, a bounce in the near future seems likely. This being accompanied by the current range showing decent stability and gigantic sell volume subsiding offers some promise🙏
Once again, as crypto price action seems to drag on in no man’s land, the space is marching forwards as positive infrastructure continues to be put in motion.
🇩🇪Germany’s second-largest stock exchange, Boerse Stuttgart Group, is set to launch a cryptocurrency trading platform in the first half of 2019.
This is yet another call to action initiative being implemented by one of the world’s premiere financial institutions. These large financial magnates understand the promise of the blockchain space and the enthusiasm surrounding cryptos.
☝️The implementation of exchanges put in place under the names of reputable trading firms will provide investors more security and clout for the crypto space. This should eventually allow more and more individuals on an international scale to participate in the evolution of the blockchain community.
🐂 Consider for a moment that the last bull-run charge was led by the on-boarding of clients onto Coinbase’s platform. Now contemplate that the next bull run will have the internationally recognized brands of Nasdaq, NYSE, and Boerse Stuggart Group, to name a few, providing exposure to crypto. The brand reach there will be more extensive than anything that has ever existed in the space to date.
In the meantime, we will continue to use our Dollar Cost Average strategy outlined above to optimize our entry in a low-stress fashion.
This should once again provide us with exposure to crypto at levels that new entrants to the space in the coming years could only wish for🔥
BitcoinExchangeGuide
German Stock Exchange Boerse Stuttgart Group Is Launching Crypto Trading Platform
German Stock Exchange Launching Crypto Trading Platform Boerse Stuttgart Group, the second-largest stock exchange in Germany, is planning to launch a crypto trading platform early next year. The exchange announced its partnership with a local fintech company…
❗️Tether FUD Update & BTC Maintains Bounce📈
The current price of Bitcoin is $3494 with 24 hour volume leveling around 5.3 billion USD. Bitcoin has maintained the $3450 level after yesterday's spring off yearly lows. Volume has increased significantly since yesterday as well so that is promising follow through by Bitcoin bulls🐂
It seems as though a broadening wedge is forming right now on $BTC. This may mean that the $3400 level, if tested again, should act as support. If that level doesn’t hold then lows may be revisited. We expect to see a bounce off $3400 if it is tested but are not counting out a clean break of $3600 which would propel $BTC to the upper 3k’s.
In other news, it seems the Tether fud is officially running out of steam. Tether has experienced heavy skepticism for well over a year regarding whether or not they possessed an equal amount of dollars for tethers printed. People feared that Tether was actually insolvent and that crypto prices were propped upon the printing of new Tethers with no real value, pumping prices.
Documents reviewed by Bloomberg suggest that Tether has the appropriate amount of funds to back up each Tether. Statements spanning four months were leaked and analyzed by a team at Bloomberg and outside regulators.
This is very positive news for the space as Tether has often times been considered the instrument by which the ‘crypto bubble’ could pop. It seems that in the near future Tether’s case may be presented more publicly but for now our team still feels safe utilizing this crypto🙌
The current price of Bitcoin is $3494 with 24 hour volume leveling around 5.3 billion USD. Bitcoin has maintained the $3450 level after yesterday's spring off yearly lows. Volume has increased significantly since yesterday as well so that is promising follow through by Bitcoin bulls🐂
It seems as though a broadening wedge is forming right now on $BTC. This may mean that the $3400 level, if tested again, should act as support. If that level doesn’t hold then lows may be revisited. We expect to see a bounce off $3400 if it is tested but are not counting out a clean break of $3600 which would propel $BTC to the upper 3k’s.
In other news, it seems the Tether fud is officially running out of steam. Tether has experienced heavy skepticism for well over a year regarding whether or not they possessed an equal amount of dollars for tethers printed. People feared that Tether was actually insolvent and that crypto prices were propped upon the printing of new Tethers with no real value, pumping prices.
Documents reviewed by Bloomberg suggest that Tether has the appropriate amount of funds to back up each Tether. Statements spanning four months were leaked and analyzed by a team at Bloomberg and outside regulators.
This is very positive news for the space as Tether has often times been considered the instrument by which the ‘crypto bubble’ could pop. It seems that in the near future Tether’s case may be presented more publicly but for now our team still feels safe utilizing this crypto🙌
Google
broadening wedge pattern - Google Search
📈CRYPTO PUMPING - S&P DUMPING📉
Crypto Continues to Rebound as Fed ignites Sell-Off in Traditional Markets.
The current price of Bitcoin is $4076 with 24 hour volume leveling around 8.2 billion USD. Bitcoin has increased by ~ 6% over the course of the past 24 hours as 30 billion USD has flown back into the crypto space from 2018 lows🔥
We are still holding our crypto exposure for now, that we highlighted in our updates from earlier this week. The buy volume across the space, simply, cannot be ignored. Crypto hasn’t experienced buy volume at these heights since May 3rd, 2018.
It’s refreshing to see this much follow through coming off support at 3k, which technically wasn’t even tested.
That being said, the buy volume we mentioned on May 3rd was followed through by a nearly 50% market sell-off in the following weeks📉
These are two completely different market conditions where the volume is taking place, but we are still remaining cautious with our exposure and are actively looking to short in the mid 4k’s to hedge ourselves⚠️
We will wait for confirmation on downside from there to establish net short positions.
Our team is closely monitoring traditional markets at this time as well. The Dow Jones, a trusted stock index of 30 large U.S. based companies, currently sits at 23,072, which is nearly 15% off 2018 highs. This type of sell-off indicates a strong headwind for traditional markets moving forward.
This situation is widely believed to be occurring because of the Fed, central reserve banking system of the United States, raising interest rates on debt. The reason this has such a high impact on traditional investments is because now borrowing money becomes more expensive to hold as heightened interest gashes occupants over time.
☝️This impacts consumers and corporations alike. It is difficult to expand company operations and investment portfolios without utilizing debt, in most situations, and if the Fed makes it more expensive to utilize debt then a recession in spending power occurs.
🌎Our team has many more thoughts on the impact of debt on the worldwide economy and the dangers it presents. We believe this is why the sell-off is occurring. The debt crisis the world is currently undergoing is a large reason why many of us are so pro-crypto in the long term. In our opinion, the current debt situation is comparable to a runaway train and crypto very possibly could act as the escape clause.
For the short term, we will be analyzing how continued sell-of in traditional markets will affect crypto prices. Will the money dry up to invest in this space as well, as many investors switch to cash, or will crypto begin to be seen as a new financial system that isn’t propagated on the existence of cheap debt?
Only time will tell, but if the past few days indicates anything, it shows that crypto markets can act independently from worldwide equities and debt markets. This is a promising trend for the space if it continues moving forward🔥
Crypto Continues to Rebound as Fed ignites Sell-Off in Traditional Markets.
The current price of Bitcoin is $4076 with 24 hour volume leveling around 8.2 billion USD. Bitcoin has increased by ~ 6% over the course of the past 24 hours as 30 billion USD has flown back into the crypto space from 2018 lows🔥
We are still holding our crypto exposure for now, that we highlighted in our updates from earlier this week. The buy volume across the space, simply, cannot be ignored. Crypto hasn’t experienced buy volume at these heights since May 3rd, 2018.
It’s refreshing to see this much follow through coming off support at 3k, which technically wasn’t even tested.
That being said, the buy volume we mentioned on May 3rd was followed through by a nearly 50% market sell-off in the following weeks📉
These are two completely different market conditions where the volume is taking place, but we are still remaining cautious with our exposure and are actively looking to short in the mid 4k’s to hedge ourselves⚠️
We will wait for confirmation on downside from there to establish net short positions.
Our team is closely monitoring traditional markets at this time as well. The Dow Jones, a trusted stock index of 30 large U.S. based companies, currently sits at 23,072, which is nearly 15% off 2018 highs. This type of sell-off indicates a strong headwind for traditional markets moving forward.
This situation is widely believed to be occurring because of the Fed, central reserve banking system of the United States, raising interest rates on debt. The reason this has such a high impact on traditional investments is because now borrowing money becomes more expensive to hold as heightened interest gashes occupants over time.
☝️This impacts consumers and corporations alike. It is difficult to expand company operations and investment portfolios without utilizing debt, in most situations, and if the Fed makes it more expensive to utilize debt then a recession in spending power occurs.
🌎Our team has many more thoughts on the impact of debt on the worldwide economy and the dangers it presents. We believe this is why the sell-off is occurring. The debt crisis the world is currently undergoing is a large reason why many of us are so pro-crypto in the long term. In our opinion, the current debt situation is comparable to a runaway train and crypto very possibly could act as the escape clause.
For the short term, we will be analyzing how continued sell-of in traditional markets will affect crypto prices. Will the money dry up to invest in this space as well, as many investors switch to cash, or will crypto begin to be seen as a new financial system that isn’t propagated on the existence of cheap debt?
Only time will tell, but if the past few days indicates anything, it shows that crypto markets can act independently from worldwide equities and debt markets. This is a promising trend for the space if it continues moving forward🔥
🇮🇳India Takes Steps Towards Crypto Legalization 🇮🇳
Hello Everyone,
The current price of Bitcoin is currently $3732 with 24 hour volume leveling around 4.8 billion USD. Bitcoin bounced near $3100, which provided a two week rally that led to a market surge of nearly 33%. Since then $BTC and the rest of crypto has cooled off slightly as the price for Bitcoin has begun to range in the 3700’s for the past 72 hours. 🚀
Like we mentioned in the low $3000’s, we were beginning to scale into large cap cryptos using an index of the top 20 cryptos to catch a potential swing. At this time we are taking profits on nearly 75% of our initial positions in order to realize gains and hedge ourselves against continued downside. 👍
If $BTC can break and hold $3900 on a 4hr time frame, then we will have renewed faith in continued upside and add to the positions we are still holding. We do believe the next move will be a break below $3680 and continued downside towards the $3500 range as this would be the next support.
At that point, we will re-evaluate the $3500 range to signal whether or not we think this support level will provide a new low for the current market structure.
Currently, in India, it is illegal to hold Bitcoin or other cryptocurrencies. Nearly 20% of the world’s population resides in India and, as it stands right now, not one Indian national is allowed to own cryptos. This could be in the process of changing as now the governmental committee, established to examine the current legal framework surrounding the space, is submitting a new report on the space to the Indian Financial Ministry in February 2019. 🤔
This submittal has reportedly indicated that the Financial Ministry is being advised to scale back restraints on the space. What is ultimately being suggested is putting a legal framework in place that legalizes the ownership of cryptocurrency in India.
With India being such a large portion of the world’s population, a scale back on the ban of cryptos should lead to more widespread adoption and would only add to the fundamentally bullish bias our team has been envisioning for the first half of 2019. 🚀
The writing is on the wall for how this space will continue to evolve over the coming months and years.
Hello Everyone,
The current price of Bitcoin is currently $3732 with 24 hour volume leveling around 4.8 billion USD. Bitcoin bounced near $3100, which provided a two week rally that led to a market surge of nearly 33%. Since then $BTC and the rest of crypto has cooled off slightly as the price for Bitcoin has begun to range in the 3700’s for the past 72 hours. 🚀
Like we mentioned in the low $3000’s, we were beginning to scale into large cap cryptos using an index of the top 20 cryptos to catch a potential swing. At this time we are taking profits on nearly 75% of our initial positions in order to realize gains and hedge ourselves against continued downside. 👍
If $BTC can break and hold $3900 on a 4hr time frame, then we will have renewed faith in continued upside and add to the positions we are still holding. We do believe the next move will be a break below $3680 and continued downside towards the $3500 range as this would be the next support.
At that point, we will re-evaluate the $3500 range to signal whether or not we think this support level will provide a new low for the current market structure.
Currently, in India, it is illegal to hold Bitcoin or other cryptocurrencies. Nearly 20% of the world’s population resides in India and, as it stands right now, not one Indian national is allowed to own cryptos. This could be in the process of changing as now the governmental committee, established to examine the current legal framework surrounding the space, is submitting a new report on the space to the Indian Financial Ministry in February 2019. 🤔
This submittal has reportedly indicated that the Financial Ministry is being advised to scale back restraints on the space. What is ultimately being suggested is putting a legal framework in place that legalizes the ownership of cryptocurrency in India.
With India being such a large portion of the world’s population, a scale back on the ban of cryptos should lead to more widespread adoption and would only add to the fundamentally bullish bias our team has been envisioning for the first half of 2019. 🚀
The writing is on the wall for how this space will continue to evolve over the coming months and years.
🚀 Ether Leads the Charge 🚀
Happy New Year, Everyone 🙌
The crypto community will happily put 2018 in the rearview. Our team has faith that 2019 will be an extremely profitable time for new market entrants.
As we have outlined in our Dollar Cost Average Analysis, our plan is too slowly accumulate Bitcoin with weighted percentages at certain price points. We are implementing this strategy because our belief is that the prices we will be able to purchase $BTC at during 2019 will be highly enviable entries in the coming years. Although we are skeptical of new all time highs being achieved in 2019, we do think the market, as a whole, should return nicely over the course of this year as momentum is achieved before the next bull run ensues.👍
The current price of Bitcoin is $3817, with 24 hour volume leveling at 4.7 billion USD. Bitcoin has consolidated in a tight $400 price range between $3500-$3900 for about a week.
At this point in time, price action seems to be pointing in favor of the bulls. We mentioned the 3500’s in our prior update as a significant area of support, and it provided buyers with a motivated entry. In our opinion, Bitcoin looks prepped to break out above the 7-day high of $3960.
We are adding to our current exposure to crypto with about 50% fiat / 50% crypto weighted percentages. We will look to add more on a break out and close above $3960 on a 4hr time frame or higher. A break below $3500 would signal renewed bearish pressure and we would return to net short positions at that time. 📈
Ethereum has stolen the show as of late by posting yet another green day, up over 11% over the course of the past 24 hours. This has been a continuation of a nearly 80% rally from 2018 lows for Ether as it has retaken the #2 spot for total market cap of cryptos. We believe some of this rally may be spurred on by the upcoming Constantinople fork in the Ethereum protocol, which will be occurring on the 16th of January. This will be an upgrade to the Ethereum blockchain as it will decrease the block time, making the network faster.
We will be looking for further consolidation on Ether to accumulate a larger position. The upcoming Constantinople fork has been a long awaited protocol update that will be very promising for the long-term success of the Ethereum blockchain.
Happy New Year, Everyone 🙌
The crypto community will happily put 2018 in the rearview. Our team has faith that 2019 will be an extremely profitable time for new market entrants.
As we have outlined in our Dollar Cost Average Analysis, our plan is too slowly accumulate Bitcoin with weighted percentages at certain price points. We are implementing this strategy because our belief is that the prices we will be able to purchase $BTC at during 2019 will be highly enviable entries in the coming years. Although we are skeptical of new all time highs being achieved in 2019, we do think the market, as a whole, should return nicely over the course of this year as momentum is achieved before the next bull run ensues.👍
The current price of Bitcoin is $3817, with 24 hour volume leveling at 4.7 billion USD. Bitcoin has consolidated in a tight $400 price range between $3500-$3900 for about a week.
At this point in time, price action seems to be pointing in favor of the bulls. We mentioned the 3500’s in our prior update as a significant area of support, and it provided buyers with a motivated entry. In our opinion, Bitcoin looks prepped to break out above the 7-day high of $3960.
We are adding to our current exposure to crypto with about 50% fiat / 50% crypto weighted percentages. We will look to add more on a break out and close above $3960 on a 4hr time frame or higher. A break below $3500 would signal renewed bearish pressure and we would return to net short positions at that time. 📈
Ethereum has stolen the show as of late by posting yet another green day, up over 11% over the course of the past 24 hours. This has been a continuation of a nearly 80% rally from 2018 lows for Ether as it has retaken the #2 spot for total market cap of cryptos. We believe some of this rally may be spurred on by the upcoming Constantinople fork in the Ethereum protocol, which will be occurring on the 16th of January. This will be an upgrade to the Ethereum blockchain as it will decrease the block time, making the network faster.
We will be looking for further consolidation on Ether to accumulate a larger position. The upcoming Constantinople fork has been a long awaited protocol update that will be very promising for the long-term success of the Ethereum blockchain.
📈Crypto Markets Rally 30% from 2018 Lows📈
Hello Everyone,
The current price of Bitcoin is $4032 (Bitmex Pricing), with 24 hour volume leveling around 5.7 billion USD (via Coin Market Cap). Bitcoin rose nearly 4.5% over the course of the past 24 hours, resulting in a $300 price increase 🏦.
Bitcoin has now rallied nearly 30% from 2018 lows 🐳, which was achieved on December 15th, and crypto itself has seen a 36% increase in total market cap as 36 billion USD has flowed back into the market.
Our team is short-term bullish in recent price action. Bitcoin is a leading indicator for how we believe alts will perform. As of right now, Bitcoin has broken above multiple points of control, including one such level around $3800 💪.
We believe this rally will continue so long as $BTC can remain above $3966 (Bitmex Pricing) on 4hr time frames and higher⏳.
At this point in time, to generate profit from greater potential upside (90% crypto, 10% fiat), our team is adding to its longs and increasing its exposure to alts. We will be utilizing the index strategy that we have previously mentioned to aggregate ourselves across top 30 market cap cryptos.
Case and point, we want to have high exposure to alts, here, as they typically act with more volatility than $BTC, in whatever way the market trends. If $3966 (Bitmex Pricing) doesn’t hold, then we will hedge ourselves neutral with shorts to protect against ensuing downside ❌.
We will circle back with you guys this afternoon (PM U.S. Central Time) to discuss updated price action and relevant news in the space.
Hello Everyone,
The current price of Bitcoin is $4032 (Bitmex Pricing), with 24 hour volume leveling around 5.7 billion USD (via Coin Market Cap). Bitcoin rose nearly 4.5% over the course of the past 24 hours, resulting in a $300 price increase 🏦.
Bitcoin has now rallied nearly 30% from 2018 lows 🐳, which was achieved on December 15th, and crypto itself has seen a 36% increase in total market cap as 36 billion USD has flowed back into the market.
Our team is short-term bullish in recent price action. Bitcoin is a leading indicator for how we believe alts will perform. As of right now, Bitcoin has broken above multiple points of control, including one such level around $3800 💪.
We believe this rally will continue so long as $BTC can remain above $3966 (Bitmex Pricing) on 4hr time frames and higher⏳.
At this point in time, to generate profit from greater potential upside (90% crypto, 10% fiat), our team is adding to its longs and increasing its exposure to alts. We will be utilizing the index strategy that we have previously mentioned to aggregate ourselves across top 30 market cap cryptos.
Case and point, we want to have high exposure to alts, here, as they typically act with more volatility than $BTC, in whatever way the market trends. If $3966 (Bitmex Pricing) doesn’t hold, then we will hedge ourselves neutral with shorts to protect against ensuing downside ❌.
We will circle back with you guys this afternoon (PM U.S. Central Time) to discuss updated price action and relevant news in the space.
😴Market Hangs in Limbo after Constantinople Delay😴
Bitcoin closed at $3607 (Bitmex Pricing) today, with 24 hour volume leveling around 5.3 billion USD.
Bitcoin’s close doesn’t inspire either a bullish or bearish bias for the time being. This type of price action doesn’t bode well for bulls as it appears support in the mid $3000’s is beginning to wane 😕.
Our analysis from this morning remains unchanged; therefore, our team will still hold its hedges in place from $3900. We expect more downside to ensue for $BTC and alts alike.
Some of the recent sell off may be partially caused by Ethereum’s Constantinople delay. A critical vulnerability in the blockchain upgrade was discovered by a smart contract audit firm on Tuesday.
The long-awaited Constantinople upgrade may have propelled Ethereum’s 100% rally from 2018 lows, but its delay may have negatively impacted the price of Ether as well as the alt market.
With a long-term scope in mind, the discovery of the incorrect code is a good thing for the crypto space as no real harm was able to transpire from faulty code.
Will the implementation of Constantinople provide a resurgence to crypto markets? Unfortunately, our team does not believe this will be the case.
Nonetheless, it is important for this space to continue the battle for smoother operability and system awareness as the crypto sphere continues to evolve.
Bitcoin closed at $3607 (Bitmex Pricing) today, with 24 hour volume leveling around 5.3 billion USD.
Bitcoin’s close doesn’t inspire either a bullish or bearish bias for the time being. This type of price action doesn’t bode well for bulls as it appears support in the mid $3000’s is beginning to wane 😕.
Our analysis from this morning remains unchanged; therefore, our team will still hold its hedges in place from $3900. We expect more downside to ensue for $BTC and alts alike.
Some of the recent sell off may be partially caused by Ethereum’s Constantinople delay. A critical vulnerability in the blockchain upgrade was discovered by a smart contract audit firm on Tuesday.
The long-awaited Constantinople upgrade may have propelled Ethereum’s 100% rally from 2018 lows, but its delay may have negatively impacted the price of Ether as well as the alt market.
With a long-term scope in mind, the discovery of the incorrect code is a good thing for the crypto space as no real harm was able to transpire from faulty code.
Will the implementation of Constantinople provide a resurgence to crypto markets? Unfortunately, our team does not believe this will be the case.
Nonetheless, it is important for this space to continue the battle for smoother operability and system awareness as the crypto sphere continues to evolve.
🎉Fidelity Set to Launch Custody Service🎉
Hello everyone,
The current price of Bitcoin is $3441.5 (Bitmex Pricing), with 24 hour volume leveling around 5.8 billion USD.
Bitcoin, at this point, has respected support from $3340-3405, which was outlined in Monday’s update. Buyers haven’t been overwhelmingly present at these levels, which doesn’t provide us with too much confidence in $BTC for the short-term.
Our previous analysis was centered on the idea that $BTC would likely head towards 2018-2019 lows.
That being said, we wish to highlight one of our market hypotheses:
We are currently comparing the conclusion of the 2017-2018 crypto bull market to the current price action of the bear market 📑. Price exhaustion was visible in late 2017/early 2018 as $BTC formed rising wedges. Volume during that period began to subside.
We believe there is a chance that $BTC may be acting in a similar way, but with opposite price action at these levels (see Bull/Bear Comparison Below👇).
Bitcoin experienced a potential selling climax during the middle of November that has now been followed by consolidation at these levels.
We think seller exhaustion, similar to how buyers grew exhausted near the 20k mark, is occurring. You can see a chart-based explanation below👇.
To coincide with this opinion, Bitcoin is still operating within the range we highlighted on Monday (see ‘Updated BTC analysis chart below👇). We are not sure whether $BTC has printed a final bottom, but we have found reason to present you with our existing bearish outlooks 🐻 and our bullish outlooks 🐂.
In other news, Fidelity plans to launch its Bitcoin custody service in March; this will allow one of the largest asset managers in the world to provide a custodial solution to its clients, which should offer a higher form of security to those who want to hold Bitcoin through Fidelity. However, this does not mean that Fidelity will be able to distribute Bitcoin to its clients.
We will keep you updated on our crypto market analysis as the week rolls on!👊
Hello everyone,
The current price of Bitcoin is $3441.5 (Bitmex Pricing), with 24 hour volume leveling around 5.8 billion USD.
Bitcoin, at this point, has respected support from $3340-3405, which was outlined in Monday’s update. Buyers haven’t been overwhelmingly present at these levels, which doesn’t provide us with too much confidence in $BTC for the short-term.
Our previous analysis was centered on the idea that $BTC would likely head towards 2018-2019 lows.
That being said, we wish to highlight one of our market hypotheses:
We are currently comparing the conclusion of the 2017-2018 crypto bull market to the current price action of the bear market 📑. Price exhaustion was visible in late 2017/early 2018 as $BTC formed rising wedges. Volume during that period began to subside.
We believe there is a chance that $BTC may be acting in a similar way, but with opposite price action at these levels (see Bull/Bear Comparison Below👇).
Bitcoin experienced a potential selling climax during the middle of November that has now been followed by consolidation at these levels.
We think seller exhaustion, similar to how buyers grew exhausted near the 20k mark, is occurring. You can see a chart-based explanation below👇.
To coincide with this opinion, Bitcoin is still operating within the range we highlighted on Monday (see ‘Updated BTC analysis chart below👇). We are not sure whether $BTC has printed a final bottom, but we have found reason to present you with our existing bearish outlooks 🐻 and our bullish outlooks 🐂.
In other news, Fidelity plans to launch its Bitcoin custody service in March; this will allow one of the largest asset managers in the world to provide a custodial solution to its clients, which should offer a higher form of security to those who want to hold Bitcoin through Fidelity. However, this does not mean that Fidelity will be able to distribute Bitcoin to its clients.
We will keep you updated on our crypto market analysis as the week rolls on!👊
🇮🇷State-Backed Iranian Crypto Pushes Industry Forward🇮🇷
Hello everyone,
The price of Bitcoin is currently $3410, with 24 hour volume leveling around 5.8 billion USD.
Due to continued market indecision, various crypto markets have taken a slight step back in the past 24 hours 📉. The crucial levels we have outlined this week remain in tact.
With each day of sideways action, we lean more towards the market hypothesis that price action could continue down through support😖. During this bear market, low volume and sideways action have been indicative of a high-volume downward move, which could happen in the near future (see updated $BTC analysis below👇).
We will still wait to enter net short positions until $BTC cracks $3330 on a significant time frame (4hr or higher).
In other news, a gold-backed cryptocurrency, the Peyman (Persian word for covenant), has been launched in Iran. Four banks and the Gohgnoos company will utilize the Peyman to tokenize bank assets and excess properties. The launch of the Peyman comes amidst speculation that Iran is developing its own state-backed cryptocurrency.
Due to economic sanctions imposed by the United States, Iran’s ability to conduct business internationally has been crippled 🆘. Last year, Iran identified cryptocurrencies as a means to circumvent the sanctions.
The introduction of the Peyman also comes directly after Iran’s central bank issued new cryptocurrency regulations. While there are still restrictions on Bitcoin, Iran gave the green light to ICO’s, exchanges, wallets, and cryptocurrency mining.
This development is not surprising to our team. One of the most important value propositions of this space is the accessibility to censorship resistance money. This could reshape the effectiveness of economic sanctions imposed by the world’s elite nations as smaller nation states resort to using cryptocurrency and blockchain to remain relevant on the international economic scene.
Hello everyone,
The price of Bitcoin is currently $3410, with 24 hour volume leveling around 5.8 billion USD.
Due to continued market indecision, various crypto markets have taken a slight step back in the past 24 hours 📉. The crucial levels we have outlined this week remain in tact.
With each day of sideways action, we lean more towards the market hypothesis that price action could continue down through support😖. During this bear market, low volume and sideways action have been indicative of a high-volume downward move, which could happen in the near future (see updated $BTC analysis below👇).
We will still wait to enter net short positions until $BTC cracks $3330 on a significant time frame (4hr or higher).
In other news, a gold-backed cryptocurrency, the Peyman (Persian word for covenant), has been launched in Iran. Four banks and the Gohgnoos company will utilize the Peyman to tokenize bank assets and excess properties. The launch of the Peyman comes amidst speculation that Iran is developing its own state-backed cryptocurrency.
Due to economic sanctions imposed by the United States, Iran’s ability to conduct business internationally has been crippled 🆘. Last year, Iran identified cryptocurrencies as a means to circumvent the sanctions.
The introduction of the Peyman also comes directly after Iran’s central bank issued new cryptocurrency regulations. While there are still restrictions on Bitcoin, Iran gave the green light to ICO’s, exchanges, wallets, and cryptocurrency mining.
This development is not surprising to our team. One of the most important value propositions of this space is the accessibility to censorship resistance money. This could reshape the effectiveness of economic sanctions imposed by the world’s elite nations as smaller nation states resort to using cryptocurrency and blockchain to remain relevant on the international economic scene.
👏Crypto Remains Stable as VanEck Resubmits👏
Bitcoin, per Bitmex, is trading at $3434. Its 24 hour volume is leveling at around 5.5 billion USD.
The market has remained stable since yesterday's update; as a result, our general outlook on $BTC and the industry is unchanged. Bitcoin's crucial support is from $3330 to $3400. Should it hold above those levels and print higher lowers, we will regain confidence in the alt market🎉.
In the event Bitcoin falls through support, we will enter net short positions and DCA as yearly lows are likely to be met 🤒.
On January 23rd, it was reported that CBOE withdrew its VanEck/SolidX Bitcoin ETF proposal. This was due in large part to the ongoing government shutdown, and the fear associated with the proposed rule change being denied by the SEC.
As of yesterday, CBOE, VanEck, and SolidX resubmitted their joint proposal to the SEC 🏅.
They withdrew earlier this month because a deadline was set on their application for February 27th. Now there is no time clock on either the CBOE/VanEck/SolidX proposal or NYSE Arca and Bitwise’s proposal, which was submitted a few weeks prior. It seems as though the leading Bitcoin ETF proponents are back in stride to become the first groups to bring a Bitcoin ETF to market in the United States.
This news is unequivocally bullish for the industry. With such investment vehicles nearing their acceptance, the market is gradually becoming more investor friendly. To think, in time, cryptos will be vastly more accessible to consumers than ever before - something all enthusiasts and incumbents in the space should be thankful for 🐂.
Bitcoin, per Bitmex, is trading at $3434. Its 24 hour volume is leveling at around 5.5 billion USD.
The market has remained stable since yesterday's update; as a result, our general outlook on $BTC and the industry is unchanged. Bitcoin's crucial support is from $3330 to $3400. Should it hold above those levels and print higher lowers, we will regain confidence in the alt market🎉.
In the event Bitcoin falls through support, we will enter net short positions and DCA as yearly lows are likely to be met 🤒.
On January 23rd, it was reported that CBOE withdrew its VanEck/SolidX Bitcoin ETF proposal. This was due in large part to the ongoing government shutdown, and the fear associated with the proposed rule change being denied by the SEC.
As of yesterday, CBOE, VanEck, and SolidX resubmitted their joint proposal to the SEC 🏅.
They withdrew earlier this month because a deadline was set on their application for February 27th. Now there is no time clock on either the CBOE/VanEck/SolidX proposal or NYSE Arca and Bitwise’s proposal, which was submitted a few weeks prior. It seems as though the leading Bitcoin ETF proponents are back in stride to become the first groups to bring a Bitcoin ETF to market in the United States.
This news is unequivocally bullish for the industry. With such investment vehicles nearing their acceptance, the market is gradually becoming more investor friendly. To think, in time, cryptos will be vastly more accessible to consumers than ever before - something all enthusiasts and incumbents in the space should be thankful for 🐂.
🏦JP Morgan Set to Issue its Own Cryptocurrency🏦
Hello everyone,
The value of Bitcoin is $3569. Its 24 hour volume is leveling at 6.4 billion. The market has pulled back slightly since yesterday’s daily close. However, it bounced perfectly off the support we illustrated in yesterday’s chart. Go ahead and check out the updated version below. Our analysis remains unchanged from yesterday.
The news dominating the crypto landscape today is JP Morgan Chase's announcement. JP Morgan Chase, a former critic of cryptocurrency, particularly Bitcoin, and the United States' largest bank, has created the first cryptocurrency (JPM COIN) by a major U.S. Bank 😲. The ‘JPM coin’ will be usable in the next few months to instantly settle payments between clients.
JP Morgan is posturing themselves to operate in a world where cross-border payments and corporate debt issuance is moved to the blockchain. A quote from JP Morgan’s head of blockchain projects goes on to say, “The applications are frankly quite endless; anything where you have a distributed ledger which involves corporations or institutions, can use this.”
This will ultimately be one of the first real-world applications for banking with blockchain technology. JPM coin will not be available for retail investors and it will also be pegged to USD. So although the investment opportunity is not available for JPM coin, we think this is overwhelmingly bullish for the space long term.
We are in the right space, ladies and gentlemen 👊
In our opinion, we will only see more stories like this in the coming years as blockchain is embraced by varying industries. In turn, the industry itself will expand and gradually improve the global landscape.
Click the link below 👇to check out Birch’s thoughts on the matter…
👉 https://twitter.com/BitcoinBirch/status/1096062109950111745
Hello everyone,
The value of Bitcoin is $3569. Its 24 hour volume is leveling at 6.4 billion. The market has pulled back slightly since yesterday’s daily close. However, it bounced perfectly off the support we illustrated in yesterday’s chart. Go ahead and check out the updated version below. Our analysis remains unchanged from yesterday.
The news dominating the crypto landscape today is JP Morgan Chase's announcement. JP Morgan Chase, a former critic of cryptocurrency, particularly Bitcoin, and the United States' largest bank, has created the first cryptocurrency (JPM COIN) by a major U.S. Bank 😲. The ‘JPM coin’ will be usable in the next few months to instantly settle payments between clients.
JP Morgan is posturing themselves to operate in a world where cross-border payments and corporate debt issuance is moved to the blockchain. A quote from JP Morgan’s head of blockchain projects goes on to say, “The applications are frankly quite endless; anything where you have a distributed ledger which involves corporations or institutions, can use this.”
This will ultimately be one of the first real-world applications for banking with blockchain technology. JPM coin will not be available for retail investors and it will also be pegged to USD. So although the investment opportunity is not available for JPM coin, we think this is overwhelmingly bullish for the space long term.
We are in the right space, ladies and gentlemen 👊
In our opinion, we will only see more stories like this in the coming years as blockchain is embraced by varying industries. In turn, the industry itself will expand and gradually improve the global landscape.
Click the link below 👇to check out Birch’s thoughts on the matter…
👉 https://twitter.com/BitcoinBirch/status/1096062109950111745
🐳Cryptocurrency Trading Volumes Approaching Year-to-Date Highs🐳
Hello everyone,
The current price of Bitcoin is $3914 (Bitmex pricing), with 24 hour volume leveling at 8.6 billion USD.
Bitcoin is showing off both impressive price action and its sustained volume over the course of the past 48 hours. 🦍🥰
Our bias remains unchanged from Monday. We believe the reversal for $BTC is gaining momentum, which should allow crypto to remain profitable for at least the next 1-2 weeks! 🤑
We are not sure if $BTC will need to cool off here, or if it is ready to attempt $4000-4100 resistance (see chart below).
Ultimately, we think the addressed resistance level will be taken out in the coming days. The volume levels across the market are strong, leading us to our reasoning.
Let’s take a closer look at exactly how much volume has been flowing into crypto since the major price spike on Monday:
The last three days of cryptocurrency trading volume, recorded via coinmarketcap, is the highest three day stretch of volume since late April of 2018, and the second highest stretch in the past 365 days 😲
Volume of this magnitude is nothing short of impressive. With all that has occurred since the last bull market, some incumbents are surprised by what’s happening.
That being said, we are not out of the woods. 2018-2019 lows could still be met. But at this point, we’re confident the market has changed from a distribution phase to an accumulation phase.
We will continue to update you as price action continues to develop.
Hello everyone,
The current price of Bitcoin is $3914 (Bitmex pricing), with 24 hour volume leveling at 8.6 billion USD.
Bitcoin is showing off both impressive price action and its sustained volume over the course of the past 48 hours. 🦍🥰
Our bias remains unchanged from Monday. We believe the reversal for $BTC is gaining momentum, which should allow crypto to remain profitable for at least the next 1-2 weeks! 🤑
We are not sure if $BTC will need to cool off here, or if it is ready to attempt $4000-4100 resistance (see chart below).
Ultimately, we think the addressed resistance level will be taken out in the coming days. The volume levels across the market are strong, leading us to our reasoning.
Let’s take a closer look at exactly how much volume has been flowing into crypto since the major price spike on Monday:
The last three days of cryptocurrency trading volume, recorded via coinmarketcap, is the highest three day stretch of volume since late April of 2018, and the second highest stretch in the past 365 days 😲
Volume of this magnitude is nothing short of impressive. With all that has occurred since the last bull market, some incumbents are surprised by what’s happening.
That being said, we are not out of the woods. 2018-2019 lows could still be met. But at this point, we’re confident the market has changed from a distribution phase to an accumulation phase.
We will continue to update you as price action continues to develop.
🏦$BTC Showing Strength as Crypto Goes Green🏦
Hello everyone,
Bitcoin is now trading at $3825 (Bitmex). Its volume for the day is healthy, leveling at 9.6 billion USD. The market is in an interesting state, providing little technical clarity as to which direction it is headed. However, we are observing key technicals that suggest bulls are at work.
First and foremost, volume has flooded back into the crypto markets. Outside of a 2-week stretch occurring in April and May of last year, volume is experiencing yearly highs 📈.
The price during the aforementioned stretch occurred when $BTC ran from $6k-9k. We are seeing this heightened level of volume while price is still resting near bear market lows. In our opinion, this shows a shift from distribution to accumulation, as buyers have ultimately stepped in to begin increasing their exposure to crypto.
As we have pointed out, we believe it is important for $BTC to maintain the 50DMA as resistance turned to support (see chart below👇). While Bitcoin briefly lost this level yesterday, buyers have stepped in with significant volume to retake the 50DMA 🏦.
A daily close above $3750 would indicate re-established support at that level.
Our team has also noticed great follow through on the weekly MACD. We originally pointed out, to all of you, that we were beginning to notice a bullish crossover on the weekly-MACD in early February. So far, the continuation has been beautiful (see image below 👇). This, along with the histogram reaching highs that haven’t been achieved since January 2018, shows us strong confluence that a shift in market structure could be happening.
We have an extremely comprehensive analysis on this shift in market structure coming in the next few days so; stay tuned!
Hello everyone,
Bitcoin is now trading at $3825 (Bitmex). Its volume for the day is healthy, leveling at 9.6 billion USD. The market is in an interesting state, providing little technical clarity as to which direction it is headed. However, we are observing key technicals that suggest bulls are at work.
First and foremost, volume has flooded back into the crypto markets. Outside of a 2-week stretch occurring in April and May of last year, volume is experiencing yearly highs 📈.
The price during the aforementioned stretch occurred when $BTC ran from $6k-9k. We are seeing this heightened level of volume while price is still resting near bear market lows. In our opinion, this shows a shift from distribution to accumulation, as buyers have ultimately stepped in to begin increasing their exposure to crypto.
As we have pointed out, we believe it is important for $BTC to maintain the 50DMA as resistance turned to support (see chart below👇). While Bitcoin briefly lost this level yesterday, buyers have stepped in with significant volume to retake the 50DMA 🏦.
A daily close above $3750 would indicate re-established support at that level.
Our team has also noticed great follow through on the weekly MACD. We originally pointed out, to all of you, that we were beginning to notice a bullish crossover on the weekly-MACD in early February. So far, the continuation has been beautiful (see image below 👇). This, along with the histogram reaching highs that haven’t been achieved since January 2018, shows us strong confluence that a shift in market structure could be happening.
We have an extremely comprehensive analysis on this shift in market structure coming in the next few days so; stay tuned!
🏌️Bitcoin Swings Low as Most Digital Assets See Red🏌️♀️
After rallying to just about the $9000 mark, Bitcoin is leading a market-wide pullback that’s leaving many digital assets seeing red. Double digital losses against USD appear to be the norm for many of crypto’s most well-known properties including Tezos, Cardano, Cosmos, Ontology, Chainlink, and Bitcoin SV.
As of the time of writing, bitcoin is consolidating around $8400, having bounced off of $8100 with plenty of vigorous volume. Several days worth of incremental gains for many BTC paired alts have been wiped out in one fell swoop, but with the overall positive sentiment resounding market-wide, these losses reflect an emerging opportunity.
Bitcoin has wildly defied expectation in recent weeks, but we are increasingly convinced that a correction period is impending. The question is not if, but when. Confirmation of a correction cycle would depend on BTC breaking below $7900, then facing an $8000 resistance.
Our analysts uncovered that during previous parabolic bull run periods, bitcoin corrected violently – to the tune of 30%–40%. Since 2015, there have been seven instances of such corrections. The current bull run has risen unhindered, and while past performance is not indicative of future results, the likelihood of a correction cycle increases with every additional run up.
After rallying to just about the $9000 mark, Bitcoin is leading a market-wide pullback that’s leaving many digital assets seeing red. Double digital losses against USD appear to be the norm for many of crypto’s most well-known properties including Tezos, Cardano, Cosmos, Ontology, Chainlink, and Bitcoin SV.
As of the time of writing, bitcoin is consolidating around $8400, having bounced off of $8100 with plenty of vigorous volume. Several days worth of incremental gains for many BTC paired alts have been wiped out in one fell swoop, but with the overall positive sentiment resounding market-wide, these losses reflect an emerging opportunity.
Bitcoin has wildly defied expectation in recent weeks, but we are increasingly convinced that a correction period is impending. The question is not if, but when. Confirmation of a correction cycle would depend on BTC breaking below $7900, then facing an $8000 resistance.
Our analysts uncovered that during previous parabolic bull run periods, bitcoin corrected violently – to the tune of 30%–40%. Since 2015, there have been seven instances of such corrections. The current bull run has risen unhindered, and while past performance is not indicative of future results, the likelihood of a correction cycle increases with every additional run up.