​​TOP News in our Digest

Capitalization: $250 bln
Trade Volume (24h): $154 bln
BTC Dominance: 64%
BTC price: $8803 (+0,39%)

Over the past 24h Bitcoin dropped to the level of January prices and tested support at $8’500. The market has lost about $15 bln during this drop, and the size of liquidations on exchanges is the biggest since the beginning of the year.

🔹SEC rejects the latest Bitcoin ETF applications by NYSE Arca and Wilshire Phoenix, due to concerns that cryptocurrency market is «too young» and easy to manipulate. This rejection caused a stir in the crypto community and maybe a sharp drop of Bitcoin price.

🔹More than $1.1 bln were liquidated on exchanges over the past 24h, when the price dropped to $8’500. According to bybt.com, most of liquidations over the past 24h occurred on Binance ($390 mln). It liquidated $100 mln more than «liquidation leader» - Bitmex.

🔹CEO of Binance is the wealthiest person in the crypto and blockchain space, according to Hurun Research Institute’s rating 2020. CZ doubled his net worth in just a year at $2.6 bln. This allowed him to lead the Hurun’s list.

#3C_digest

Bitfinex is currently down. In accordance to Bitfinex official twitter it is under DDos atack.

https://twitter.com/bitfinex/status/1233321316641640448?s=19

Services on the Bitfinex platform have resumed.

https://twitter.com/bitfinex/status/1233334043900555264

Markets continues to decline due to coronavirus

Financial markets are falling for the 6th consecutive day in the midst of an epidemic outbreak of coronavirus (COVID-19) in many countries. The main concern of investors is that the virus is able to cripple the global economy. According to recent data, in 50 countries around the world, 83 thousand people were infected with the virus. And more than 2,800 are already dead. The vast majority of cases and deaths happened in China. Recently, the virus began to spread actively in Europe, and after this panic occurred in world markets.

Weekly market losses have been the most severe since the financial crisis in 2008. Shares of companies around the world fell in price to $ 3.6 trillion:
• The Dow Jones Industrial Average fell Thursday at 1,190.95 points (-4.4%), which is the strongest daily drop in history;
• The S&P 500 index fell to 4.4% and during the week the decline is 10% - the worst week for the index since 2008;
• Nasdaq Composite lost 4.61%;
• The price of Brent oil fell to 4% ($ 45.22 per barrel), the decline over the week is 14% and it is the highest since 2011;

Indexes continue to decline as many countries introduce new measures to control the epidemics outbreak: public events are canceled, restrictions on airlines are introduced, borders and enterprises are closed. If the trend continues, the regulator will introduce measures regarding the movement of assets.

In this connection, an economic slowdown will force investors and traders to reconsider the possibility of preserving their own savings. Since the markets are at their maximum and falling in the event of a mass panic will affect all financial sectors.

As for Bitcoin, it can attract a huge number of new users to use cross-border movement of savings, which will inevitably affect the course and volatility of the cryptocurrency market. As it happened during the trade war between the USA and China and during the aggravated situation in Iran.

Warning!

Binance API is malfunctioning. Possible problems with execution of deals.

​​Cryptocurrency prospect analysis on the example of dotcoms

In the late 1990s there was a brisk growth in the value of shares of Internet companies. But in 2001, the stocks of these companies were worth ten times less. This event has gone down in history as the “Dotcom Bubble”.

This situation bears analogy to the development of cryptocurrencies and blockchain. Therefore, it is worth considering that many crypto projects will follow the "dotcom" example.

Let's analyze cryptocurrency prospect on the example of dotcoms in this article.

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😎 Are you ready for the New Market Making bot?

We are considering creating a new trading bot, and we want to know if you are interested.
The Market Making bot can earn on the difference between Bid and Ask. That's how it works. If you are interested and think you may like to use it in the future, please follow the link and leave a request.

🔹About the Bot
Get first positions in an order book and maximum profit in low volatility markets.
The Market Making bot automatically adjusts to market movement.

🔹 How it Works
By placing an order in order book, a trader buys higher and sells cheaper. Market Making bot will help you make a profit on the difference between Bid and Ask, spread. You will get the first positions in an order book, so you are both a seller and a buyer, thereby earn on the difference.

If this bot sounds interesting to you, please follow the link and leave a request; you will be the first to receive all pre-launch news.

Leave your request ➡️ https://mmbot.io/

​​The most interesting news in our digest

Capitalization: $252 billion
Trade volume (24h): $171 billion
BTC Dominance: 63.7%
BTC: $8,803 (-0.1%)
USD: 66.56 RUB
EUR: 73.91 RUB

🔹Bitcoin is in the correction stage after reaching the mark of $10,500. The asset has successfully fixed at $8800-level and is trading above the 200-day moving average. Analysts also note that the inverse Head and Shoulders pattern with the key supporting levels of $7800- $8100 formed on the weekly timeframe. If this pattern will develop, medium-term goals for Bitcoin may be in the range of $10,000-$12,000.

🔹In the latest Bloomberg report it is noted that since 2017 hackers have stolen about $9.8 billion in cryptocurrencies from investors because of neglecting security measures. The publication also refers to KPMG's statement that crypto industry will be able to develop even further when improves the security of the utilized assets.

🔹Exchanges continue getting rid of illiquid trading pairs actively in order to consolidate and increase liquidity on their platforms. Thus, last week the Binance Exchange announced the removal of 5 trading pairs. Following it, BitFinex exchange plans to remove 46 illiquid trading pairs, (the majority of which are in BTC and ETH) on March, 6th.

🔹The most anticipated Ethereum update with the transition to ProgPow may be in question. The representatives of the Ethereum community put forward a petition with the suggestion to give up on activation of EIP-1057 (ProgPoW) due to inefficient cryptocurrency mining on ASIC miners. In the future this may lead to the network split.

🔹Bitcoin network hash rate has risen to 136 EH/s and hits new all-time high. There was fear that Coronavirus would push for the network data rate. Because major manufacturers of mining equipment in China stopped their work and new equipment supply.

🔹‘Due to the increasing complexity of mining, 98% of modern ASIC devices will become irrelevant in the near future’, this was stated by blockchain specialist Alex de Fries. He believes that the mining industry of Bitcoin produces more electronic waste than some countries. This trend will continue as the average soft life is about 1.5 years.

#3C_digest

​​Binance Exchange conducts temporary technical work

Binance Exchange suspended work with deposits, withdrawals, spot and margin trading while the system is being serviced.

Binance Futures will continue unaffected during the maintenance period.

Binance Exchange completed the technical work. Trading will begin at 11:30 UTC.

​​📱 Join IOS App Beta Testing

Our IOS app is going through open beta testing now. Join and become one of the first users who can try the new app capabilities!

Available for beta test participants:

▫️ New design — new login/registration screen and Dashboard.
▫️ Summary screen — contains summarized information about coins on all your exchanges.
▫️ Improved connectivity — the ability to connect new exchanges on My Exchanges screen.
▫️ Subnoscription page — new screen where you can view and compare all available subnoscription plans.
▫️ Bots and Smart Trade section — offers more information for easy viewing. Tap on a deal or trade to view details.
▫️ Tap on an account, and you can see the number of coins, their price, the amount in $, and price change in $.
▫️ Bot details sections — more accessible than ever, you can now see deal start conditions.

Only 100 places are available. Don't be shy to leave your comments and suggestions. You can send them via TestFlight or email on mobile@3сommas.io

Sign up here➡️ https://testflight.apple.com/join/oMzFkY7A

We are happy to share our story of becoming a Binance broker partner with you 😎


https://www.binance.com/en/blog/421499824684900446

​​India and South Korea start legalizing cryptocurrency

Recently, the Supreme Court of India decided to lift an embargo on cryptocurrency transactions that had been established by Central Bank two years ago. Previously, to provide banking services to crypto companies was under embargo for local financial institutions.

Indian cryptocurrency exchange CoinDCX, responded to the situation immediately and added support for bank payments. In the midst of this event Indian projects went up in price:
- WazirX (WRZ) + 95%
- Matic (MATIC) + 30%

The removal of the ban will have a significant impact on cryptocurrency introduction boost in the country.

South Korea legalizes cryptocurrency

The South Korean Parliament passed a law creating the legal basis for cryptocurrencies. The bill contains information about introducing cryptocurrency taxation system (first officially implanted in the country) and establishes the guidelines for financial institutions involved in cryptocurrency. The bill will valid from March, 2021.

Previously, such a bill provided fines of up to 50 million won (or $ 42,000) for companies which work with digital tokens operations.

Following South Korean projects have already responded to the situation with instant growth:
- ICON (ICX) + 27%
- Fantom (FTM) + 15%
You can find the complete list of promising Korean projects here.

🔥Futures Trading is Available at the Smart Trade Terminal

You can connect Binance Futures, Bitmex, and Bybit exchanges to your 3Commas account and trade futures at the Smart Trade terminal. All tools except Stop loss time out are available.

What are the benefits of Futures and Leverage Trading?

🔹Short exposure. Traders may profit not only by long positions (where you make profit if the price of a cryptocurrency increases).They also may stand to benefit from ''shorts” by trading cryptocurrency if the price falls. Both variants are possible even if there are not any crypto in their account.

🔹Leverage. Leverage allows traders to enter the positions that are larger than their account balance. On Binance Futures, perpetual futures contracts can be traded with the leverage that goes up to x125 (as a result, a $100 balance would allow you to trade with $12,500). Although, the amount of leverage you may use will vary depending on the cryptocurrency to be traded.

🔹Manage your risks. Hedging is the core value of futures. To insure yourself against risks, you can buy futures when required. After its expiration, you will sell your bitcoins at a certain initial price, guaranteedly receiving estimated amount regardless of the exchange rate rise and fall.

We recommend you to study the guide on futures trading through the Smart Trade terminal.

Read the guide

Available on PRO subnoscription.

​​The most interesting news in our digest

Capitalization: $262 billion
Trade volume (24h): $141 billion
BTC Dominance: 63.8%
BTC: $9,112 (+2,2%)

In the midst of positive news about the legalization of crypto in India and South Korea, Bitcoin exchange rate grew by 5% per day and reached $9063. Strengthening above the level of $ 9100 may indicate a positive growth dynamics to the next resistance level of $9550. In the case of Bitcoin pullback on the daily timeframe, the support zone is the level of $8450- $8650 from which there was a local price rebound.

🔹The US Federal Reserve System (FED) has announced on the reduction of the federal financing rate immediately by 0.5 percentage points to 1-1.25%. For the first time since 2008, the Fed lowered the rate and took urgent action because of the viral shedding of coronavirus (COVID-19) and a sharp decline in markets last week.

🔹Cryptocurrencies were not used as a safe-haven amid the aggravated situation in the stock market, - this was stated by Campbell Harvey, professor of the international business. He believes, that in the severe stress situation people seek safety not in cryptocurrencies, but in 10-year US stocks.

🔹The UK Financial Conduct Authority (FCA) has warned investors that the BitMEX derivatives exchange could potentially be scammer because it has not received permission to work in the UK.

🔹Santiment Analytical Service provided statistics regarding the large savings on Ethereum. The study says that the assets continue to increase on 100 largest ETH wallets, which could be the good sign of a bullish market stage.

#3C_digest

​​Automatize trading tax calculation

The majority of our customers are concerned about the calculation and payment of tax on crypto trading. To solve this problem, we collaborated with Cryptotrader.tax.

What are the advantages of the Сryptotrader.tax?

CryptoTrader.tax automates the process of calculating taxes on crypto trading. Just connect your exchanges, import deals and upload your tax report in minutes.

Thanks to this partnership, all 3Commas customers get a discount of 10% on the use of the service. The discount is available if you use the following link upon registration - https://cryptotrader.tax?fpr=tax_3commas

You can read more about the service and partnership here

​​What is the difference between a trader and an investor?

Most of the market participants, depending on their strategy, may be categorized as either a trader or an investor. One could roughly say that the difference between the two lies in time each one holds the position, but there is more to it: their goals and strategies differ significantly as well.

In this article we will review both categories and compare the basic principles of their strategies.

Read article

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Binance will remove five trading pairs: CND/ETH, CTXC/BNB, DLT/BNB, VIBE/ETH, ZEC/PAX

https://www.binance.com/en/support/articles/360040335232

Overview of the world economy

On Monday, oil prices fell by 30% within a few minutes after the market opening. The reason for the collapse was the failure of negotiations on additional reduction of oil production by OPEC countries. The fall began after Saudi Arabia launched a price war with Russia which refused to decline in oil output, previously proposed by OPEC to stabilize oil markets affected by concerns about the global spread of coronavirus. Experts predict the fall in oil prices will cause a knock-on effect on world markets.

The great drop in oil prices caused a panic selling on the world financial markets:

- Brent fell from $45 per barrel to $31 in just 24 hours, reaching a four-year low;
- Euro rose 1% to $1.1394 which is eight-month high;
- Major Russian companies’ shares fell by 15-25%.
- World stock exchanges lost between 5 and 10%;
- London Stock Exchange Index showed the largest daily decline since 2008 — 7.7%.
- Saudi Aramco shares fall below IPO price for first time;
- Bitcoin lost 13% of its value, down $1,000.

Lately, Bitcoin continues showing a strong correlation with the stock market. These events show that Bitcoin investors are not interested in it as a protective asset, but rather that they are getting rid of their "digital assets" due to the world volatile situation. Often, institutional investors transfer their savings to more steady and familiar protective assets, such as gold.
And in the midst of events with the coronavirus and oil prices break the gold rose in price to $1700 per ounce to its highest level since 2012.

​​The Most Interesting News in Our Digest

Capitalization: $224 billion
Trade volume (24h): : $136 billion
BTC Dominance: 64%
BTC: $7,878 (-0,8%)

Bitcoin started recovering from Black Monday and returned to $8,000. During the strong decline Bitcoin reached $7,600 and lost 17% of its value in two days closing 2 gaps which had been formed on the CME futures exchange at $8,450 and $7,685.
Bitcoin broke through the 200 and 100-day moving average levels. If the bearish trend continues, the next support level may be at $7.350, which is an annual low.

🔹Congressman Paul Gosar presented the new version of "Crypto Currency Bill 2020)". which aims to create positive environment for digital assets in the U.S. This bill can provide clarity as well as legitimacy to the cryptology in the U.S.

🔹Goldman Sachs stated that the U.S. economy could go into recession if the coronavirus epidemic will linger on. In this case, regulatory authority will have to reduce Fed's rates by 0.5% again. In a given setting, analysts expect that the S&P index will decline to 2450 by the end of the year.

🔹Fed plans to print $100 billion in response to panic markets’ fall. Federal Reserve Bank of New York (which manages the Fed's balance sheet) will provide American banks with up to $100 billion in additional repo loans from March 10-12th.

🔹 Scammers from PlusToken continue stolen bitcoin laundering through the wallets of cryptocurrency mixing services. This time, 13000 BTC had been passed through the mixer. Chainsguard analysts reported that the transactions did coincide with the fall, indeed. But the pyramid assets are still in the mixers and have not entered the stock exchanges yet.

#3C_digest

​​In recent months, the crypto community has begun to see an open gap trading strategy on the bitcoin futures chart on the CME exchange increasingly. Over the past weekend, one of the largest gaps in the history of the CME Bitcoin Futures chart has been formed which has over 900 points.

In this article we are going to figure out what are the gaps, how do they form, and what their varieties are. We will also determine the pattern of development of gap trading strategy in the cryptomarket.

Read article

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