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Thread: All Information About Bitcoin

  1. #131
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    Bear Revival? Bitcoin Risks Fall Below $8K After 3.5-Week Low

    Bitcoin's (BTC) bears have unraveled the minor rally in prices since Saturday and are now looking to pull the cryptocurrency below the $8,000 mark, the technical charts indicate.

    The bears' comeback comes after bitcoin saw minor gains after the May 12 low of $8,204, but the bulls repeatedly failed to cut through the key falling trendline hurdle. As a result, bitcoin fell to a 3.5-week low of $8,100 on Bitfinex earlier today.

    As of writing, BTC is changing hands at $8,366 - down 4.7 percent in 24 hours.

    The above chart shows that bitcoin has dipped below the 50-day moving average (MA), currently located at $8,290. As discussed yesterday, a close (as per UTC) below the 50-day MA would signal resumption of the sell-off from the recent high of $9,990 and could yield deeper sell-off to $7,800.

    The rejection at the descending trendline hurdle and a drop to $8,100 has reinforced the bearish view put forward by the short-term moving averages (5-day and 10-day), which are sloping downwards in favor of the bears.

    The retreat from $8,884 to $8,100 has also established a falling top (lower highs pattern) - a (you guessed it) bearish setup. While the 10-day MA has crossed the 100-day MA from above (bearish crossover), and the relative strength index (RSI) is also biased bearish (below 50.00 and falling).

    As a result, there is a high probability that bitcoin will now go on to close today (as per UTC) below the 50-day MA and confirm a bear revival.

    The bad news (for the bulls, at least) continues in the 4-hour chart. The downside break of the expanding channel (bearish breakdown) indicates the sell-off from the May 5 high of $9,990 has resumed and could yield a drop to $7,524 (target as per the measured height method).

    Note, the major moving averages (50, 100 and 200) are sloping downwards (bearish).

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    BTC will likely close below $8,290 (50-day MA) today and confirm a bear revival.
    The cryptocurrency looks set to test support at $7,787 (61.8 percent Fibonacci retracement of the rally from April 1 low to May 5 high) and could go as low as $7,524 (expanding channel breakdown target) in the next 24-48 hours.
    An unexpected break above $8,884 would abort the bearish view.

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  3. #132
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    Bitcoin will surge again this year. But here's what needs to happen first, says CoinShares chairman

    Bitcoin was priced around $8,300 Wednesday evening, 5:30 p.m. ET. While the coin has recovered from lows earlier this year briefly dropping below $6,000 in February.
    Bitcoin is still far away from its mid-December peak around $19,500.

    Bitcoin will rally this year and reach its previous highs, CoinShares Chairman Danny Masters predicted.

    But here's what needs to happen first: Better structures and a life cycle post initial coin offerings (ICOs) the fundraising process that helps launch new cryptocurrencies.

    "We need to see this structure continue to build," Master said on "Fast Money" Wednesday. "We need to see the custody solutions come and be provided. We need indices and we need performance measures where we can actually start to understand what we're talking about and measure our performance."

    "We need to do more mature work around the ICOs, so that post ICO we have a token life cycle," he continued. "And just give investors more clarity, better expectations, more transparency."

    Bitcoin was priced around $8,300 Wednesday evening, 5:30 p.m. ET. While the coin has recovered from lows earlier this year briefly dropping below $6,000 in February bitcoin is still far away from its mid-December peak around $19,500.

    CoinShares, an investment firm specializing in cryptocurrency, launched the world's first publicly traded bitcoin and ethereum fund.

    Investors were optimistic that Blockchain Week New York and Monday's Consensus event would help boost the large-cap coin. But bitcoin has under-performed, down 5 percent since Monday.

    Masters pointed out that three years ago, the market and number of people interested in cryptocurrencies was very small. This week, however, more than 8,000 people showed up for Blockchain Week New York.

    Bitcoin will see new highs in 2018, according to Coinshares chairman
    3 Hours Ago | 11:59
    Bitcoin will rally this year and reach its previous highs, CoinShares Chairman Danny Masters predicted.

    But here's what needs to happen first: Better structures and a life cycle post initial coin offerings (ICOs) the fundraising process that helps launch new cryptocurrencies.

    "We need to see this structure continue to build," Master said on "Fast Money" Wednesday. "We need to see the custody solutions come and be provided. We need indices and we need performance measures where we can actually start to understand what we're talking about and measure our performance."

    "We need to do more mature work around the ICOs, so that post ICO we have a token life cycle," he continued. "And just give investors more clarity, better expectations, more transparency."

    Bitcoin was priced around $8,300 Wednesday evening, 5:30 p.m. ET. While the coin has recovered from lows earlier this year briefly dropping below $6,000 in February bitcoin is still far away from its mid-December peak around $19,500.

    CoinShares, an investment firm specializing in cryptocurrency, launched the world's first publicly traded bitcoin and ethereum fund.

    Investors were optimistic that Blockchain Week New York and Monday's Consensus event would help boost the large-cap coin. But bitcoin has under-performed, down 5 percent since Monday.

    Masters pointed out that three years ago, the market and number of people interested in cryptocurrencies was very small. This week, however, more than 8,000 people showed up for Blockchain Week New York.


    In fact, he said, bitcoin's life cycle "is still very early."

    "In derivatives, indices, pricing models and so on that go on around We're nowhere near that part yet," Masters said.

    "We're not even at the part yet where I'd say institutional investors even started in commodities. Because these things indexation, custody and so on aren't there to bring in those bigger people just yet."

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  5. #133
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    Cryptocurrency investor names his favorite and least favorite digital currencies

    Ran Neu-Ner, host of CNBC Africa's "Crypto Trader," has tips for cryptocurrency investors.
    Bitcoin cash and ethereum might be worth holding on to, he says. But he passes on bitcoin and ripple.

    With so many digital coin options out there, it can be difficult for investors to know how to navigate the cryptocurrency universe.

    Ran Neu-Ner, founder of Onchain Capital and host of CNBC Africa's "Crypto Trader," offered a few tips to "Fast Money" traders on Thursday. Here are some of his favorite and least favorite digital currencies.

    Bitcoin
    Neu-Ner is an early investor of the large-cap coin. But he still said to sell.

    "I like bitcoin," he said, but pointed out that it's, "priced too low." The coin, valued as high as $19,500 late last year, was trading around $8,100 on Thursday evening.

    "It's going to continue to go up, slowly and in a stable way," he said. "But there are more exciting cryptocurrencies out there."

    Bitcoin cash
    One of them might be bitcoin cash.

    The coin, priced around $1,200 Thursday evening, was down by about $100 from Tuesday. But that's still almost double its April 17 level of $763.

    With a solid team behind the coin, Neu-Ner said he sees a lot of potential.

    Ethereum
    Hold this coin, Neu-Ner said, "for sure."

    He pointed out that ethereum has many potential uses and one of the biggest communities in the industry, with thousands of people, "the smartest people in the room."

    But it's not just ethereum Neu-Ner is excited about.

    "I'm excited for a new generation of protocols like ethereum," he said. Some picks: Oasis, Zilliqa and Thunder Token.

    "Ethereum has scalability issues," Neu-Ner said. "They're doing 15 transactions per second. That means, that's not real-world stuff. But some of the other blockchains are resolving this. They're promising 10,000 transactions per second."

    Ripple
    Definitely a sell, the crypto trader said of Ripple.

    "I'm throwing it in the garbage," Neu-Ner said.

    While he pointed out that Ripple the company is "one of the best companies I know," he said its token, the XRP, is not.

    "I can't find a use case for the token," he said. XRP is also a centralized token, which Neu-Ner said defeats the point of blockchain technology.

    "I'm out," he said.

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