Bitcoin ETF Could Attract Billions in New Investment: VanEck

Twitter Facebook LinkedIn A bitcoin ETF could attract billions of dollars in new investments, so the Securities and Exchange Commission (SEC) should treat pending proposals as an opportunity to regulate the crypto market, said crypto exchange-traded fund advocate Gabor Gurbacs. Gurbacs, the director of Digital Assets Strategy at VanEck, made this claim during an interview with CNBC Africa’s Crypto Trader. The comments came in the wake of VanEck’s persistent requests to the US securities regulator to approve their bitcoin ETF proposals. The SEC so far has rejected nine similar proposals,…

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Price Rejects Bulls as Downside Correction Extends

Twitter Facebook LinkedIn Bitcoin on Friday suffered a circa 1 percent loss against the US Dollar owing to an extended bearish correction. The BTC/USD pair is now trading at 6340-fiat, 2.70 percent down from the November’s top at 6516-fiat. The 100-period simple moving average resistance discussed in our previous analysis has fared strongly for the fourth time. The strong pullback action from that level could undoubtedly allow the price to form downside targets towards 6203-fiat, vital support in the medium-term. SOURCE: TRADINGVIEW.COM A breakout action above 100-period SMA puts sights…

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$6 Billion Wiped Out of Crypto Market in 48 Hours: Where to Next?

Twitter Facebook LinkedIn Over the last 48 hours, since November 7, the global crypto market has lost $6 billion of its valuation as it dropped from $220 billion to $214 billion, while Bitcoin remained stable. On November 6, major cryptocurrencies including Bitcoin Cash (BCH), Ripple (XRP), Ethereum (ETH), Stellar (XLM), and Cardano (ADA) recorded large gains in the range of 5 to 30 percent, as BCH surged by around 40 percent within a two-day span. Subsequent to demonstrating a significant increase in value, most major cryptocurrencies retraced, which was expected…

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Price Eyeing Bearish Reversal from 100-Period SMA

Twitter Facebook LinkedIn The bitcoin-to-dollar exchange rate has dipped close to 1 percent on Thursday, now trading at 6470-fiat. The outcome of the US midterm elections with Democrats sweeping a sharp win in the House had certainly shaken the US dollar yesterday. The greenback nevertheless sustained its overall bullish momentum ahead of the Federal Reserve policy meeting today. It looks to hold on to its crucial supports owing to optimistic wage, price, and labor market data. Bitcoin, at the same time, could find it difficult to push through its critical…

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Why Bitcoin is Primed for a Christmas Surprise

Twitter Facebook LinkedIn Nearly 11 months into a bear market that has seen the bitcoin price take a two-thirds haircut from its all-time high, the flagship cryptocurrency could be on the verge of a year-end rally. Mati Greenspan, senior market analyst at eToro, has been watching for a bitcoin breakout for some time now, and he said in market commentary made available to CCN that there are early indications that cryptocurrencies will see a “Santa Claus rally” heading into the new year. “In traditional markets, it’s very common to see…

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Price Above $6500 Resistance post US Midterm Elections

Twitter Facebook LinkedIn Bitcoin on Wednesday challenged new highs as price against the US Dollar surged 1.42 percent within a few hours. CHART FROM TUESDAY NOVEMBER 7, 2018 | SOURCE: TRADINGVIEW.COM The BTC/USD pair built upon the near-term bullish scenario after breaking above the interim resistance explained in our previous analysis. A breakout action above 6421-fiat started attracting long positions towards 6500-fiat as the primary upside target. The pair rallied and established a new intraday high towards 6515-fiat before retreating across the exchanges. It is now trading at 6507-fiat. The…

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Crypto Market Surges in Daily Volume to $13 Billion, Renewed Optimism

Twitter Facebook LinkedIn Over the past three days, the volume of major cryptocurrencies and the rest of the crypto market has increased substantially, from around $10 billion to $13 billion. Bitcoin, in particular, has seen a large increase in volume from $3.1 billion to $4.3 billion within a week, by more than 40 percent. Led by the positive price movement of Bitcoin and its noticeable increase in volume, the value of other major cryptocurrencies like Stellar (XLM), Cardano (ADA), and Tron (TRX) has increased by the range of 3 to…

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Crypto Market May be Poised for Bullish Breakout

Twitter Facebook LinkedIn Bitcoin on Tuesday confirmed another bull flag formation after reversing from its downside correction action. The BTC/USD pair has almost negated the losses made during yesterday’s trading session, bringing the 24-hour gains to 0.46 percent. The pair found a strong intraday support level at 6372-fiat, just ahead of testing the lower trendline of the parallel channel introduced in the previous analysis. It reversed from the said level to retest its interim resistance at 6421-fiat. The BTC/USD pair is now trading at 6427-fiat on a comparatively high volume…

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Novogratz Says Bitcoin Will See Record Highs in 2019

Twitter Facebook LinkedIn Mike Novogratz, the CEO of crypto investment firm Galaxy Digital, predicts that bitcoin will break out of its 2018 doldrums and soar to $20,000 in 2019 — fueled by a spike in institutional investments. The former Goldman Sachs investment banker says institutional “FOMO” (fear of missing out) will drive the market up over the coming months as cryptocurrency assets gain more mainstream acceptance and traditional finance players take the leap into crypto. Year-End Bitcoin Price Target: $8,800-$9,000 “Bitcoin has to take out $6,800, and after that we…

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Only 19% Chance Bitcoin Price Breaches $10,000 by Q2 2019

Twitter Facebook LinkedIn A drop in the bitcoin price’s daily moves has lowered the market’s expectations of reclaiming a five-figure valuation anytime soon. Options Traders Not Bullish on Bitcoin Skew — a crypto analysis blog authored by two London-based derivative traders — claimed that bitcoin has only a 19 percent chance of breaching the $10,000-mark by June 2019. The report rested their analysis on the expected outcomes of bitcoin futures that are expiring by the third week of the last Q3 month, explaining that the volatility embedded in the price of…

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