Dow Jones futures were paralyzed in early trading Tuesday as major warning signs flashed across the broader stock market. The market is in the bizarre position where all asset classes are firing on full power. The Dow and S&P 500 are at or near all-time highs. At the same time, defensive assets like gold, bonds, yen, and even bitcoin pound higher. This isn’t a market in equilibrium and something has got to break. Dow trades flat ahead of G20 meeting Dow Jones Industrial Average futures traded flat on Tuesday morning, extending Monday’s sideways movement. At 7.08 am EST, DJIA futures
Bitcoin continues to coil tightly within its range-bound market as the bulls and bears fight it out to see which is most dominant. On the lower time frames (TF), bitcoin is managing to find support:
Figure 1: BTC-USD, 2-Hour Candles, Low TF Support
The zone outlined by the green line in Figure 1 represents local support that has kept the market afloat for the last week and a half. Late last night, we saw another test of this support level has failed to break it thus far. On a macro level, we are in a kind of no-man’s-land, following the bounce off macro support in the mid $ 3,000s:
North American esports giant Cloud9 has entered into a sponsorship deal with BMW (BMWYY), marking the first esports team sponsorship for the auto giant. 📺 Check out a note from @JackEtienne below! #socalbmw 👇 pic.twitter.com/tDmy4K1iRK — Cloud9 (@Cloud9) March 9, 2019 According to the announcement, which was tweeted out on Friday, CEO Jack Etienne revealed that […]
Following our initial report that suggested that Nike (NKE) had entered into its first esports deal with the Chinese League of Legends Pro League (LPL), the athletic giant came out today to officially announce a four-year deal with the league. LPL x Nike Starting from the 2019 Mid-Season Invitational, you can purchase @Nike and LPL […]
Cloud9’s North American League of Legends Championship Series (NA LCS) team has entered into an apparel partnership with Puma for the upcoming LCS Spring Split. Cloud9 is proud to announce our partnership with iconic sportswear company, @PUMA for the 2019 LCS Spring Split! We’re thrilled to welcome PUMA to the Cloud9 Family and are eager to get […]
Co-founded by veteran game developer Brian Fargo, Robot Cache will purportedly be the first blockchain-based digital marketplace for video games. Brian Fargo Launches Blockchain-Based Steam Competitor The PC games platform is set to launch sometime in 2019 but has already signed up 22 publishers and 700 games for its blockchain-based competitor to Steam. Robot Cache
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This week realized a big gain as bitcoin enjoyed a 25% rally from its local bottom before topping out around $ 4,400. Support currently appears to be established in the mid-$ 3,000s as the market remains indecisive over its next move:
Figure 1: BTC-USD, Daily Candles, Current Support Level
Figure 1 shows the relevance of the current support level as it represents a previous support level that was never properly retested during last year’s parabolic bull market. At the moment, we are currently seeing some resistance around the macro, 78% Fibonacci retracement of the parabolic run-up. To date, bitcoin has realized a whopping 82% devaluation from its all-time high to the current low in the mid $ 3,500s.
Nike (NKE) has reportedly inked a 5-year sponsorship deal with the Chinese League of Legends Pro League (LPL) for $ 144 million. According to a recent unconfirmed report by Chinese media outlet Lan Xiong Sports, the sponsorship will bring Nike apparel and other accessories to the LPL, similar to what is commonly found in traditional sports leagues. The […]
Peer-to-peer trading is taking center stage in the world of cryptocurrency. For Ethereum enthusiasts, a platform by the name of LocalEtheruem is worth keeping an eye on as of right now. The team is introducing a lot of new changes in quick succession, most of which are designed to make the platform a lot more secure to use.
#3 Keeping Encryption in Place
When using third-party cryptocurrency services, there is a growing demand from users who want to keep as much information secure as possible. Encryption plays a big role in this regard. The LocalEthereum team acknowledges this demand and ensures their encryption will remain in place for an extended period of time.
The New Economy Movement (NEM)’s platform token XEM surged 10 percent against the dollar on Monday, rising from 0.0974-fiat to 0.1046-fiat. The XEM/USD formed a straightforward uptrend while attempting to retest the high from Sep 6 correction action. The price action corrected towards 1.000-fiat later as a part of its pullback action. The downside momentum … Continued
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It’s been weeks since ether has seen a new high or a new low and the market has found itself range-bound. At the moment, we are seeing signs of distribution as large rounds of selling have remained present during key support tests:
Figure 1: ETHUSD, 4 Hour Candles, Trading Range
After the market crash on Thursday, the future of a further drop in Bitcoin seems to be a bit brighter according to CoinDesk.
The biggest digital currency in the world has been staying relatively steady over the past month but on Thursday there was a massive drop bringing the price down below the $ 6,500 mark and to the $ 6,200 level confirming a range breakdown.
The technical indicators on the daily chart were also a bit slow and validating a negative moving average crossover on the long duration charts as was mentioned yesterday over several news outlets.
Here are a few of the most significant signs that the bulls are getting ready to break out and stampede on the markets.
Five years ago, the industry didn’t have as many investors as we see today and most mainstream media wouldn’t have given any crypto related news the light of day. There weren’t as many fans of blockchain as there is now and most updates regarding the industry wouldn’t have been heard by many. The people that this applies to will be probably kicking themselves now.
Looking at the most significant signs now, which suggest that the bulls are about to break out.
Chart for XRP/BTC (1W)
Ripple (XRP) has defended its 5 Week EMA. This is a clear message to all the critics out there calling Ripple (XRP)’s rally a pump and dump. RSI for the above weekly chart for XRP/BTC does seem to have neared the overbought range. However, there is no sign of a slowdown yet and something bigger is brewing on the bigger picture. The accumulation to distribution ratio on the above chart shows something very interesting. From the beginning of 2018 till mid September we saw a steady decline in accumulation against distribution. However, towards the end of September, we witnessed a trend reversal. Accumulation rose against distribution till it hit resistance and retraced. Currently, the Accumulation/Distribution ratio is in a very good position for another rally.
Silk Road founder Ross Ulbricht is currently serving a double life sentence plus 40 years for his role in operating the infamous Silk Road website. Ulbricht is not eligible for parole. He is currently imprisoned at the high-security United States Penitentiary, Florence High, in Colorado. In August, Maine State Senator and current U.S. Senate Candidate
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Chris Kline, co-founder and COO at Bitcoin IRA, identifies the signs that lead him to predict Bitcoin price will reach USD $ 40,000 in the next few months.
Kline: Bitcoin Price May Surpass $ 40K by End of 2019
Bitcoin’s (BTC) 00 sustained steady rise towards the USD $ 7,000 price mark is causing investors to pore over data trying to identify indicators that can confirm whether the bearish trend is now reversing course.
In a Forbes article, Chris Kline identifies these Bitcoin bullish signs and predicts that “the price may well surpass $ 40,000 by the end of 2019 and could continue to climb as we enter 2020.”
Cryptocurrency exchange Huobi sent a “friend request” to a member of the Zuckerberg clan, and that friend request has been accepted. This is after Randi Zuckerberg, the elder sister to the founder of Facebook, Mark Zuckerberg, was unveiled as a member of Huobi Chain Expert Advisory Committee. The serial entrepreneur and author is currently the
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At press time, the father of cryptocurrency has jumped to $ 6,700 – the highest it’s been in a while. This is about $ 200 “taller” than where it stood just 24 hours ago.
Many sources claim that the bitcoin market is beginning to show signs of maturing. The latest sign comes by way of the Security and Exchange Commission’s (SEC) rejection of roughly nine separate bitcoin ETF proposals. Strangely enough, bitcoin remained in the $ 6,400 range the entire time, and was largely unaffected by the news.
The SEC’s reasoning for the rejections is as follows:
With over a $ 500 million influx of Tether’s USDT tokens in the crypto market this month, Tether grabs a spot in the top ten cryptocurrencies with a circulating market cap of $ 2.7 billion.
Tether Hogs The Limelight, Once Again
August has remained a critical month so far, with cryptocurrency market valuations dropping by 20-25% since the beginning of the month. Additionally, the cryptocurrency market attained its 2018-low as the overall market cap plummeted below $ 200 billion for the first time this year.
Global investment platform eToro has partnered with British Premier League clubs in a sponsorship deal that could see future transfers of players in the English Premier League (EPL) settled in cryptocurrency.
The seven clubs involved in the trial are Tottenham Hotspur, Leicester City, Southampton, Cardiff City, Brighton, Newcastle United and Crystal Palace.
Speaking with Bitcoin Magazine, eToro U.K.’s Managing Director Iqbal Gandham said that one of the reasons why they partnered with the clubs was to increase awareness of bitcoin and the potential of the blockchain.