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Bitcoin - As Horizon Fades - Short-Term - Part 5Cryptocurrency Market Stalls As Horizon Fades The cryptocurrency market appears to have stalled out in the wake of several fundamentals that failed to deliver. Bakkt’s weak BTC futures debut and the withdrawal of VanEck SolidX’s ETF proposal both adversely affected the market, and today’s slump is a direct result. Investors and traders look to impending fundamental factors as price drivers. In their absence, traders only have charts upon which to rely, and it goes without saying that BTC’s chart hasn’t painted the prettiest picture in recent weeks. The turbulence of the market has sidelined all but the most adventurous traders. As far as rollercoasters go, this one has been pretty thrilling, a little scary, and entirely unpredictable. Additionally, the BTC hash rate flash crash didn’t do anything to assuage investor concerns that the Bitcoin network is both secure and stable. An easy way to gauge just how few traders have a sense of direction in these tumultuous times is to read a Crypto Twitter feed. Currently, it appears that all of Crypto Twitter is expected a drop to the $6K range, if not lower. The more posts you see about meta-crypto topics, things Binance is doing, or dogs, the deeper in a bear cycle the market is. While there is, without a doubt, every possibility a sizable decline will occur, we’re not entirely sold. That’s alright, though. We’ve said this before, and so have many others, but it’s always worth repeating: Markets move in cycles. The BTC halving is approaching, and quickly. Getting in position to take advantage of the presumed price run leading to BTC’s quadrennial event will be the modus operandi of every intelligent trader in the market. At the time of writing, BTC appears to have stabilized above $8k. Without any fundamental price drivers in the immediate horizon, the next milestone to look to is the May 2020 halving. In our humble opinion, the rocket is refueling. But, if you’re the one strapped in the rocket and waiting for launch, it’s easy to become impatient with the process you’re unable to see. Rockets aside, BTC is currently cooling at $8,200 – a far cry from $10K. Crypto’s #1 is throwing mixed signals into the air. Both weekly and 2W timeframes displayed clear weakness by closing below HTF demand OB EQ at $8,259.80. Additionally, there is an olympic-size pool of demand resting below us from $7,200 to $6,000 - $5,650 . That roughly translates as traders notGiven that, we won’t be surprised to see BTC find a price floor above the catastrophic lows being predicted. Will quantum computing break crypto? A requisite ability in any cryptocurrency investor’s skillset is that of reading seemingly disconnected events for the ways they may be relevant now, or in the future. Case in point – Google reached its “quantum supremacy” milestone, meaning the company’s rudimentary quantum computer outperformed a traditional one. In a nutshell, quantum computers can easily run through impossibly sophisticated computations in the blink of an eye. Whereas a cluster of some of today’s best computers may take months, to complete a complex calculation, quantum computers will do them in seconds. What has that got to do with crypto? Bitcoin, Ethereum, and the rest are cryptographically encrypted digital assets. Their security is guaranteed by the difficult calculations required to append transactions to the blockchain (via mining). However, a quantum computer, in theory, can easily power through the calculations which cryptographically secure digital assets today. In essence, quantum computers can potentially break blockchains. In response, blockchain architects are generally doing one of two things: 1. Researching and deploying quantum-resistant cryptography as quickly as possible. 2. Deploying quantum-based blockchains which play nice with their computer counterparts. This prospect has been thoroughly researched arxiv.org but can’t be undertaken until quantum computing is established, stable, and well understood. Concerns over how the rise of quantum computing may affect Bitcoin are well-founded but early. Google and IBM have both progressed much faster than anticipated, though their prototypes have a very long way to go before posing a threat to Bitcoin or blockchain generally. Technologies also grow in tandem. As progress is made in the quantum computing arena, there will be trickle-down and cross pollination to other sectors – like blockchain. Back in 2013, Ethereum founder Vitalik Buterin tried to get funding to build a quantum computer himself. More recently, he suggested quantum-resistant Lamport Signatures as a way to future proof blockchains. For additional reading on the subject, we suggest the following research paper titled “Bitcoin and Quantum Computing” > for more read this Article //arxiv.org/pdf/1711.04235.pdf Well keep you updated as this timely issue evolves. We go together Together we are stronger Share and like I am not Bearish long term. I am a Bull of Bulls. Thanks God bless you! =============================================================================== Twitter > twitter.com Telegram > t.me =============================================================================== CAUTION! DISCLAIMER Trading is risky. Here s a small explanation about why Im giving insight into my trades. Crypto is all about trust and transparency and that is what ID like to bring. Dont expect me to tell you how much crypto I actually own because thats none of your business. But I Will tell you how big my position will be in regard to my trading portfolio. Secondly and actually the main reason im doiing this, is to proof to all the HALTERS out there that you can earn money with trading crypto. Most people are skeptical about trading because they heard horror stories about people who lost all their money. Follow my journey and let me proof therm wrong. At the end of the day, the most important thing is how good are you at risk control. Booking some losses during trading is perfectly normal, so im not afraid to show those losses. Most traders dont give any insight in what they because they perfectly know they suck and dont have a clue what they are doing in regard to risk management. Risk comes from not knowing what you're doing. Just like every trader, Ive seen ups and downs in my journey. I started trading stocks. And you can guess what that meant for my portfolio. Yes thats right, it was almost completely wiped out. But I pressed on, learned a lot about technical analysis and here we are. I have experience in trading stocks, options, and commodities . So you can assume that I know how to deal with risks. =============================================================================== $BTC $BCH $BNB $XLM $EOS $ETH $ADA $LTC $TRX $XRP $IOTA $LINK $XTZ $BTT $XMR $NEO $BTT $MATIC $XMR $MRK $XEM $ONT $DASH $BAT $ZRX $LSK $NANO $REP #altcoins #bitcointrading #BuyTheFear #BuyTheDip @btc @RedditBTC #CRYPTO #BITCOIN #BTC ===============================================================================
BITSTAMP:BTCUSDShort
by ferGOD
2
Bitcoin ETF to skyrocket the market to $38000 as Gold did?This chart displays the similarities on the trading patterns of the historical price of Gold before and after its ETF approval to Bitcoin's historical price in anticipation for its ETF approval decision. On March 28, 2003, the first Gold-backed ETF was introduced. The result was a +460% rise on Gold's price that reached $1920.80 on September 2011. Gold's pattern prior to the ETF launch looks very much like Bitcoin's current chart after its all time high near $20000. We see the same volatility runs as gold had in the 1980s. Both had a sharp decline of 65-70% following their all time highs. A key parameter to consider of course, is that Gold’s transition took place within a 20-year cycle, while Bitcoin's occurred within a year, with this fast pace attributed to demand and supply. The similarities are indeed impressive. Assuming that Bitcoin's ETF is approved, market psychology may suggest that a similar pattern will be followed. This is translated into roughly $38000 in late 2019 (532% increase since February's lows). It should be mentioned of course that we are talking about different market sizes. The value of all the Gold that's ever been mined exceeds $8 trillion. The value of all the Bitcoins that have ever been mined is $76 billion. This may indicate however Bitcoin's upside potential. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
BITSTAMP:BTCUSD
by InvestingScope
21
BTCUSD BTFNX thoughtsI would like what currently I'm scared of on current graphics. Let's start with indicators analysis. As for me, I see a pretty good perspective for a BTC price. Currently, AO, MACD, Stoch RSI and RSI are awesome, I mean due to a daily chart all of them show that we can expect growth. Might be this could be confirmation that soon we will see the second shoulder and downtrend, but weekly charts are also good, due to indicators AO, MACD, Stoch RSI, and RSI are positive, also there is a huge bullish divergence on weekly MACD formed from 22 Jan 2018 with the first extremum on 14 Apr 2018 and second on 18 Jun 2018. But we have to be aware of the H&S pattern which is rather a strong pattern, due to indicators I'm 75% sure that we will see growth to the second shoulder. Soon we will see growth confirmation or the H&S, so be careful with it, and do not forget to set stop. As for me, I see a good perspective for a growth, let's say that I don't believe in a rapid growth, but I believe in a couple month growth. Due to the news, we have to expect good news in a couple of months ahead. Starting with CBOE BTC ETF verdict on 30th September, Nasdaq is about to add crypto trading on Gemini architecture in the second quarter, Intercontinental Exchange (ICE), who own NYSE said that they are working on a BAKKT platform for exchange crypto for USD and BAKKT will be fully regulated. All of this is just a tip of an iceberg, lots of new positive updates are coming. Few words about crypto regulation in the USA. So, I don't think that people who work at the ICE, Nasdaq and other companies who work in a crypto sector are that stupid to invest that kind of money and not be sure that everything is going to be ok) I expect for a good perspective for a crypto in upcoming months. BTW I think current problems around crypto in the USA because of low volume on BTC futures.
BITFINEX:BTCUSDLong
by pmktyn
The slow run to $4k, before ETF takes us to the moonMany insist that a bull run is "long overdue", but with the previous epic bull runs in mid-2011, early 2013, late 2013 and late 2017, we have a history of one to four years between each moonshot. Although we all know anything can happen in crypto, we can also look at what is most likely: It is less than one year since the last epic bull run, making anything before 2019 quite "early" It is widely expected that the various upcoming ETF application decisions will be postponed until Feb/March 2019. This will be very bearish news. The expiration of BTC Futures always coincide with a bearish few days... the next few months have at least five of these expiring - equals more bearish pressure. Bitcoin only costs around $3,000 to mine in China, where around 70% of all new Bitcoin are produced. Hence we can easily drop to $7k, $6k, $5k, maybe even $4k. On this day last year Bitcoin was $2855 and had never been higher - therefore all these values represent long term progress for BTC. This drop to a nice cheap Bitcoin would then coincide with the (hopefully) positive decision for the SolidX/VanEck/CBOE Bitcoin ETF application in late Feb/early March 2019... which will likely be the catalyst we need for our next moonshot to $50k and beyond. How many Bitcoin will you buy if we hit $4k? Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
BITSTAMP:BTCUSDLong
by BCryptological
1
Beautiful Bull Flag for Cardano ADA breaking out July 22ndGorgeous full flag forming for most coins including Cardano and BTC. I'm focusing on Cardano and Stellar being my top 2 of the Coinbase 5 team. For Cardano I'm dollar cost averaging my way down to 16 cents. We should see a slight pull back before beginning wave 5 according to this bull flag in progress. I am feeling very confident on this move because how symmetrical the flag is. ETA would be 6am PST for starting of the move with confirmation at 2pm PST. Best of luck traders! *** This is not financial advice, merely showing my trades for educational purposes. Do you OWN research ***
Long
by dreamsound
1