Daily Volatility Decline? Bitcoin Has Seen $1K Range 43 Times In 2018

Bitcoin is famous (or infamous) for its daily price jumps and falls, but lately the charts seem to be bordering on the comatose. So, has the cryptocurrency’s volatility really dropped or are we in business as usual? We crunched the numbers to find out, and while things have been calm of late, it certainly hasn’t been a quiet 2018 for the world’s oldest and largest cryptocurrency. In fact, bitcoin (BTC) has witnessed daily volatility (or an inter-day trading range) above $1,000 as many as 43 times so far this year…

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Sell In May and Go Away? Not for Bitcoin Bulls

Sell in May and go away? While the month may traditionally give equity bulls cold feet, it should probably not be a cause of worry for the bitcoin market. Indeed, it’s true the month of May is often a weak period for equities, and that bitcoin has acted as a risk asset (moving in tandem with equities) since February. As such, cryptocurrency investors may fear that a potential drop in equities could end up dragging bitcoin prices lower. However, historical data suggests that bitcoin is more likely to build upon…

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The Blockchain Data Problem Is Bigger Than You Think

A straightforward data point – the total supply of bitcoin hit 17 million. But as with most things in crypto, it wasn’t so simple. Every 10 minutes or so, miners find a block of transactions and the network adds 12.5 new bitcoin to the total supply as a reward for the finders. And each reward has been logged on the blockchain since bitcoin launched in early 2009. As such, it seemed like a number – a milestone – the industry could trust. But as some celebrated once the mark was hit on…

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Goldman Sachs to Begin Bitcoin Futures Trading Within Weeks

Investment banking giant Goldman Sachs will use its own money to trade bitcoin futures on behalf of its clients, according to the New York Times. The Times reported Wednesday that while the exact launch date of the new trading operation is not yet set, the move came after the bank’s board of directors signed off on the initiative. Goldman is also set to “create its own, more flexible version of a future, known as a non-deliverable forward, which it will offer to clients,” according to the report. Goldman executive Rana Yared…

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Bitcoin Bulls Seek Breakout to $10K or Higher

Bitcoin (BTC) has been trading in a narrowing price range over the past week, but a bullish breakout is looking likely, the technical charts suggest. The cryptocurrency created a bearish outside-day candle last Wednesday, signaling the rally from the low of $6,425 had run out of steam. However, the bitcoin bulls ensured there was no negative follow-through on Thursday and defended $8,800 over the weekend. While a convincing break above $9,500 has remained elusive so far, the charts suggest the bulls have the stronger hand going forward. 4-hour chart The…

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I Would Short Ether Before Bitcoin, Says Citron’s Andrew Left

“I’d rather short ether.” Andrew Left, the activist short-seller behind Citron Research, told CoinDesk on Tuesday that he thinks both bitcoin and ether, the cryptocurrency of the ethereum network, are “bubbles.” If he had to choose one, though, he’d bet on ether’s price to fall. Left is known for writing explosive reports into companies like the Canadian pharmaceutical firm Valeant, arguing that investors should short them. His comments came a day after he fired a Twitter broadside at Square, a payments company that has been adding support for bitcoin buying…

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Up 33%: Bitcoin’s Price Just Had Its Best Month of 2018

Bitcoin’s price rose 33 percent against the U.S. dollar in April, making it the best month of 2018 for the world’s largest cryptocurrency. Data from CoinDesk’s Bitcoin Price Index (BPI) shows that May began with bitcoin’s price at the $9,244.32 mark – a 33 percent jump from its April 1 start of $6,926.02. This marks the greatest rise in bitcoin’s price this year, and one of only two months where it rose at all within the period.   Source: BPI Bitcoin’s price fell overall in January and March, and only…

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Buffett: Bitcoin Is More Gamble Than Investment

“Oracle of Omaha” Warren Buffett, whose aphorisms and advice many investors take as gospel, has laid into bitcoin, saying it’s a gamble, not an investment. The Berkshire Hathaway chairman and CEO – and the world’s third-wealthiest person, according to Forbes – has long been skeptical of bitcoin. In his latest comments on the subject, he told Yahoo Finance on Saturday, “If you buy something like bitcoin or some cryptocurrency, you don’t really have anything that has produced anything. You’re just hoping the next guy pays more.” He continued: “There’s nothing wrong with…

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Pullback Over? Bitcoin Retakes $9K, Eyes Further Gains

Having recovered from a five-day low hit yesterday, bitcoin (BTC) has potential for a move higher towards major resistance at $9,880, the technical charts indicate. The cryptocurrency moved back above $9,000 in the Asian hours after the pullback from the recent high of $9,767 ran out of steam around the ascending (bullish) 4-hour 50-candle moving average (MA). As of writing, BTC is trading at $9,251 on Bitfinex, representing marginal losses over the previous day’s close (as per UTC) of $9,270. A bearish follow-through to Wednesday’s bearish outside-day reversal would have…

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What Crypto Investors Can Learn from Billionaire George Soros

Tanzeel Akhtar is an independent British journalist whose work has been published in the Wall Street Journal, CNBC, FT Alphaville, Investing.com, Forbes, Euromoney and Citywire. Recent news that George Soros’ $26 billion family office is entering the cryptocurrency market has many investors speculating about the likely impact. But one of the billionaire’s most famous ideas might be even more important to understanding how the market functions, with or without his participation. For those unfamiliar with this powerful palindrome: In the world of economics and finance, Soros is feared and known…

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