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Bitcoin Price Flying High for Long?

bitcoin priceBitcoin recently dived to $3,824 and then picked back up to a high of $4,480. At the time of this posting, the price is currently at around $4,294. Bitcoin has been fairly volatile lately due to the recent all time highs and the market is at a crossroad regarding its next move. We are now seeing the biggest increase in market capitalization yet. With one Bitcoin pricing in at over $4,000 in the past few days and the current market capital hovering at around $68 billion. Looking back to August 15th of 2013, Just four years ago, roughly four years after

bitcoin price

Bitcoin recently dived to $3,824 and then picked back up to a high of $4,480. At the time of this posting, the price is currently at around $4,294. Bitcoin has been fairly volatile lately due to the recent all time highs and the market is at a crossroad regarding its next move.

We are now seeing the biggest increase in market capitalization yet. With one Bitcoin pricing in at over $4,000 in the past few days and the current market capital hovering at around $68 billion. Looking back to August 15th of 2013, Just four years ago, roughly four years after the inception of Bitcoin, the market capital was at ~$1.3 Billion and the price of one Bitcoin was at a measly $111.70.

Many respectable people in the Bitcoin industry or even outside of the industry have speculated recently that Bitcoin may go to $500,000 USD. Another had speculated $7,500 by this years end, which is something more realistic in my opinion. I do personally speculate that Bitcoin can reach 5 digit pricing in the near future.

Key Points:

  • Bitcoin price mania continues
  • Rarity of Bitcoin pushing the price up
  • RSI has been over 70, still overbought

Source: Bitstamp.com

In other news, most altcoins have been seeing red as of late, potentially due to the recent Bitcoin price increase and speculation of much higher pricing.
alts decrease

Source: Coinmarketcap

A trader named DianKemala on Tradingview.com is currently stating “new support and new target”, So the hopes and technical views of higher BTC prices still exist!

Source: Tradingview.com

Bitcoin’s RSI has been over 70 since August 9th, so for 10 days now the market has been in the overbought zone. The cryptocurrency market is ever evolving and doesn’t seem to be slowing down anytime soon, even with the high RSI. However, traders should be careful to buy in when the market has been in such a dangerous zone for so long.

Bitcoin pricing sponsored by Denarius [DNR], More information at https://denarius.io – This is not investment / trade advice. Always do your own independent research.

Bitcoin’s rally is pausing — but Bitcoin Cash is popping – Business Insider

Bitcoin’s rally is pausing — but Bitcoin Cash is popping
Business Insider
Bitcoin has rallied over the last week. The digital currency broke through $4,000 a coin for the first time ever on Sunday and has since added a further $400 to its peak, although the rise has not been in a straight line. Bitcoin has rallied over 300

and more »


Bitcoin's rally is pausing — but Bitcoin Cash is popping
Business Insider
Bitcoin has rallied over the last week. The digital currency broke through $4,000 a coin for the first time ever on Sunday and has since added a further $400 to its peak, although the rise has not been in a straight line. Bitcoin has rallied over 300 ...

and more »

Bitcoin’s rally is pausing — but Bitcoin Cash is popping – Business Insider UK


Business Insider UK

Bitcoin’s rally is pausing — but Bitcoin Cash is popping
Business Insider UK
Cryptocurrency investors are booking profit on Friday, with Bitcoin seeing a small price dip after setting new records on Thursday. Bitcoin charged past $4,400 a coin on Thursday, setting a new record high in the process. On Friday, however, traders

and more »


Business Insider UK

Bitcoin's rally is pausing — but Bitcoin Cash is popping
Business Insider UK
Cryptocurrency investors are booking profit on Friday, with Bitcoin seeing a small price dip after setting new records on Thursday. Bitcoin charged past $4,400 a coin on Thursday, setting a new record high in the process. On Friday, however, traders ...

and more »

Ethereum scaling solution, Plasma, could facilitate ‘billions of transactions per second’

The architect known for conceptualizing the Lightning Network, an off-chain scaling solution for Bitcoin, has done it again. On August 8, Joseph Poon, and Ethereum’s Vitalik Buterin, published a white paper titled Plasma: Scalable Autonomous Smart Contracts.

Poon first conceived the high-level construction for Plasma in mid-2014, before the Lightning Network paper was published, before Frontier was released on Ethereum, and when scaling on Bitcoin Talk was just a theoretical slow moving disaster.

The architect known for conceptualizing the Lightning Network, an off-chain scaling solution for Bitcoin, has done it again. On August 8, Joseph Poon, and Ethereum’s Vitalik Buterin, published a white paper titled Plasma: Scalable Autonomous Smart Contracts.

Poon first conceived the high-level construction for Plasma in mid-2014, before the Lightning Network paper was published, before Frontier was released on Ethereum, and when scaling on Bitcoin Talk was just a theoretical slow moving disaster.

Bitcoin Cash Price Technical Analysis – BCH/USD Surges Higher

Key Points Bitcoin cash price after consolidating just below the $300 level gained heavy bids against the US Dollar. There was a break above a major bearish trend line at $300 on the hourly chart of BCH/USD (data feed from Kraken). The price rocketed higher and broke many hurdles on the way up towards $500. … Continue reading Bitcoin Cash Price Technical Analysis – BCH/USD Surges Higher

The post Bitcoin Cash Price Technical Analysis – BCH/USD Surges Higher appeared first on NEWSBTC.

Key Points Bitcoin cash price after consolidating just below the $300 level gained heavy bids against the US Dollar. There was a break above a major bearish trend line at $300 on the hourly chart of BCH/USD (data feed from Kraken). The price rocketed higher and broke many hurdles on the way up towards $500. … Continue reading Bitcoin Cash Price Technical Analysis – BCH/USD Surges Higher

The post Bitcoin Cash Price Technical Analysis – BCH/USD Surges Higher appeared first on NEWSBTC.

Bitcoin Price Technical Analysis for 08/18/2017 – Quick Pullback Opportunity

Bitcoin price appears to be making a much-needed pullback to the ascending channel support and Fib levels.

The post Bitcoin Price Technical Analysis for 08/18/2017 – Quick Pullback Opportunity appeared first on NEWSBTC.

Bitcoin price appears to be making a much-needed pullback to the ascending channel support and Fib levels.

The post Bitcoin Price Technical Analysis for 08/18/2017 – Quick Pullback Opportunity appeared first on NEWSBTC.

Paxful Experiences a Two-Fold Growth in Volumes as It Strives to Become a Universal Money Translator

Paxful is a peer to peer Bitcoin marketplace that is on its way to make buying and selling bitcoin easier for the global cryptocurrency community. The platform, created by two friends, Artur and Ray, offers a safe and secure option for people to buy bitcoin with plenty of available payment options. Bitcoin and other cryptocurrencies … Continue reading Paxful Experiences a Two-Fold Growth in Volumes as It Strives to Become a Universal Money Translator

The post Paxful Experiences a Two-Fold Growth in Volumes as It Strives to Become a Universal Money Translator appeared first on NEWSBTC.

Paxful is a peer to peer Bitcoin marketplace that is on its way to make buying and selling bitcoin easier for the global cryptocurrency community. The platform, created by two friends, Artur and Ray, offers a safe and secure option for people to buy bitcoin with plenty of available payment options. Bitcoin and other cryptocurrencies … Continue reading Paxful Experiences a Two-Fold Growth in Volumes as It Strives to Become a Universal Money Translator

The post Paxful Experiences a Two-Fold Growth in Volumes as It Strives to Become a Universal Money Translator appeared first on NEWSBTC.

Photos: Inside one of the world’s largest bitcoin mines – Quartz


Quartz

Photos: Inside one of the world’s largest bitcoin mines
Quartz
One of the world’s largest bitcoin mines is located in the SanShangLiang industrial park on the outskirts of the city of Ordos, in Inner Mongolia, an autonomous region that’s part of China. It’s 400 miles from China’s capital, Beijing, and 35 miles

and more »


Quartz

Photos: Inside one of the world's largest bitcoin mines
Quartz
One of the world's largest bitcoin mines is located in the SanShangLiang industrial park on the outskirts of the city of Ordos, in Inner Mongolia, an autonomous region that's part of China. It's 400 miles from China's capital, Beijing, and 35 miles ...

and more »

Substratum Launches Substrate Cryptocurrency to Power the New Decentralized Web

substratumAug 18, 2017 — Substratum is proud to announce development of the decentralized web fueled by a new cryptocurrency currently in ICO, Substrate. The Substratum Network is built around the concepts of simplicity and freedom, offering open-source tools anyone can use to participate in the decentralized web. Users run one-click software to set up nodes that serve content. Anyone running a node is paid in Substrate microtransactions each time a request is fulfilled, letting them earn passive income while contributing to an open web experience. Powering this decentralized web is Substrate (SUB), a new cryptocurrency designed to be user friendly

substratum

Aug 18, 2017 — Substratum is proud to announce development of the decentralized web fueled by a new cryptocurrency currently in ICO, Substrate.

The Substratum Network is built around the concepts of simplicity and freedom, offering open-source tools anyone can use to participate in the decentralized web. Users run one-click software to set up nodes that serve content. Anyone running a node is paid in Substrate microtransactions each time a request is fulfilled, letting them earn passive income while contributing to an open web experience.

Powering this decentralized web is Substrate (SUB), a new cryptocurrency designed to be user friendly from the ground up. Substrate is divided into Atoms extending only to the second decimal place, creating a fiat-like notation familiar to the general public. This aids in adoption and makes Substrate a friendlier alternative to other cryptocurrencies.

The Substratum Network leverages blockchain technology, advanced cryptography, artificial intelligence, and custom compression algorithms to ensure fast, safe, and efficient operation of the network. Best of all, end-users can view content hosted on Substratum directly in their default browser with no special software needed.

Substrate entered ICO in mid-August. The pre-ICO phase ran for one week prior and closed over $1 million in contributions, far exceeding the minimum funding goal. Substrate is expected to hit exchanges September 2017.

The Substratum Network comes at a time when people are increasingly concerned with online privacy, censorship, and net neutrality. Substratum’s decentralized nature allows it to break free from those constrictions and empower users to take back the web. With its user-focused design, Substratum makes it easy for anyone to earn cryptocurrency and change the world.

For more information about the Substratum Network or to participate in the Substratum ICO, visit https://substratum.net

Disclaimer: This is a sponsored press release and does not necessarily reflect the opinions of any The Merkle employees. This is not investment or trading advice, always do your own independent research.

The lives of bitcoin miners digging for digital gold in Inner Mongolia – Quartz

The lives of bitcoin miners digging for digital gold in Inner MongoliaQuartzBlessed like most of China with cheap labor, land, and, most important, cheap electricity, Ordos threw open its doors to all-comers, including bitcoin, the stateless digital cu…


The lives of bitcoin miners digging for digital gold in Inner Mongolia
Quartz
Blessed like most of China with cheap labor, land, and, most important, cheap electricity, Ordos threw open its doors to all-comers, including bitcoin, the stateless digital currency whose total market value has more than quadrupled this year to $70 ...

and more »

A Full Service Bitcoin Banking Platform? Welcome to CryptoPay ICO

Bitcoin has literally exploded into the mainstream awareness after a meteoric rise this spring and summer. However, many investors and crypto newcomers are still nervous about how cryptocurrencies work. At the same time, many new companies are coming into the marketplace and seeking crowd funding through ICOs (initial coin offerings). And yet, many of these … Continue reading A Full Service Bitcoin Banking Platform? Welcome to CryptoPay ICO

The post A Full Service Bitcoin Banking Platform? Welcome to CryptoPay ICO appeared first on NEWSBTC.

Bitcoin has literally exploded into the mainstream awareness after a meteoric rise this spring and summer. However, many investors and crypto newcomers are still nervous about how cryptocurrencies work. At the same time, many new companies are coming into the marketplace and seeking crowd funding through ICOs (initial coin offerings). And yet, many of these … Continue reading A Full Service Bitcoin Banking Platform? Welcome to CryptoPay ICO

The post A Full Service Bitcoin Banking Platform? Welcome to CryptoPay ICO appeared first on NEWSBTC.

Bitcoin Price Analysis: Long and Short Squeezes Shape a Weakening All-Time High

Bitcoin Price Analysis

This morning, BTC-USD pushed a new all-time high on several exchanges. However, this time, the momentum to continue higher seems to be waning. Shortly after establishing the new all-time high, there was a $150 flash crash that sprang a series of account liquidations across several exchanges in a move that would ultimately “long squeeze” the market. A long squeeze is a term used to describe the sudden cascade of long positions getting stopped out of their positions, causing market orders to propel the price even lower:

Figure_1 (1).JPGFigure 1: BTC-USD, 5-Minute Candles, Bitfinex, Long Squeeze

The figure above shows the price movement correlated to the volume during the $150 drop. Halfway through the drop we see a sudden spike in sell volume. This spike in volume is the beginning of the “long squeeze” that initiated the cascade of market sell orders caused by traders in long positions being forced out of their positions via their stop-loss market orders.

Figure_2 (1).JPGFigure 2: BTC-USD, 15-Minute Candles, Bitfinex, Short Squeeze

Yesterday, at around 12 pm EST, the exact opposite thing happened in a market event known as a “short squeeze.” You can think of a short squeeze as literally the opposite of a long squeeze: People who are anticipating a great short entry are suddenly forced out of their positions via their stop-loss orders, and market buy orders propel the market higher, thus triggering more stop-loss orders until the market equalizes.

Today the BTC-USD market has begun a series of long squeezes that pulled the price down by $300 in a matter of hours, and it doesn’t show much sign of letting up at the moment. Let’s take a look at the macro trend and see where the market is likely heading:

Figure_3 (1).JPGFigure 3: BTC-USD, 3-Day Candles, Bitfinex

For the fifth candle in a row, the 3-day candles have managed to puncture the Bollinger Bands in a move that indicates an overbought market. We have yet to see an attempt to move within the Bollinger Bands and provide some relief for the high price range.

Zooming in a little closer, we can see that clear signs of bullish exhaustion formed as we began to push the most recent set of all-time highs:

Figure_4.jpg
Figure 4: BTC-USD, 2-Hour Candles, Bitfinex, Bullish Exhaustion

The first thing that pops out about this trend is the decrease in volume (shown in pink) leading into this morning’s all-time high. Upon reaching that high, sell volume began to pick up considerably (labeled in blue) and has continued to remain strong during the push into the $4300 and $4200 prices. The previous all-time highs (labeled in yellow) are currently paired with a decreasing MACD moving average/signal line trend that indicates the market is losing bullish momentum across the macro trend.

The BTC-USD market seems to be running on fumes at the moment, but I would not  be surprised at all to see an all-time high squeezed out of this market. However, I would be VERY surprised if that all time had any notable follow-through. The market volume on the macro levels has steadily declined, and there are key market indicators that hint toward the need for sustained sideways consolidation. Alternatively, a strong market pullback might be in the cards for BTC-USD. Each push toward the new highs has been greeted by strong sell volume. In the event of a market retracement, your key support levels on the macro exist along the Fibonacci Retracements shown below:

Figure_5.JPGFigure 5: BTC-USD, 4-Hour Candles, Bitfinex, Key Support Levels

When the market begins to struggle to push new all-time highs, it is important to keep a close eye on the volume and see how it interacts with the price movement. Consistent price growth on decreasing buy volume is a signal that the bears, although losing the battle in price currently, are gathering as the market nears its final top before ultimately correcting or consolidating. And given the price growth over the past 30 days, I would be inclined to lean toward the former rather than the latter.

Summary:

  1. Short squeezes and long squeezes have begun to shape the current market trend.

  2. On the macro and micro scale, the market is showing a highly overbought market and is beginning to lose upward steam.

  3. Key support levels lie on the Fibonacci Retracements shown in Figure 5.

Trading and investing in digital assets like bitcoin, bitcoin cash and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

The post Bitcoin Price Analysis: Long and Short Squeezes Shape a Weakening All-Time High appeared first on Bitcoin Magazine.

Bitcoin Price Analysis

This morning, BTC-USD pushed a new all-time high on several exchanges. However, this time, the momentum to continue higher seems to be waning. Shortly after establishing the new all-time high, there was a $150 flash crash that sprang a series of account liquidations across several exchanges in a move that would ultimately “long squeeze” the market. A long squeeze is a term used to describe the sudden cascade of long positions getting stopped out of their positions, causing market orders to propel the price even lower:

Figure_1 (1).JPGFigure 1: BTC-USD, 5-Minute Candles, Bitfinex, Long Squeeze

The figure above shows the price movement correlated to the volume during the $150 drop. Halfway through the drop we see a sudden spike in sell volume. This spike in volume is the beginning of the “long squeeze” that initiated the cascade of market sell orders caused by traders in long positions being forced out of their positions via their stop-loss market orders.

Figure_2 (1).JPGFigure 2: BTC-USD, 15-Minute Candles, Bitfinex, Short Squeeze

Yesterday, at around 12 pm EST, the exact opposite thing happened in a market event known as a “short squeeze.” You can think of a short squeeze as literally the opposite of a long squeeze: People who are anticipating a great short entry are suddenly forced out of their positions via their stop-loss orders, and market buy orders propel the market higher, thus triggering more stop-loss orders until the market equalizes.

Today the BTC-USD market has begun a series of long squeezes that pulled the price down by $300 in a matter of hours, and it doesn’t show much sign of letting up at the moment. Let’s take a look at the macro trend and see where the market is likely heading:

Figure_3 (1).JPGFigure 3: BTC-USD, 3-Day Candles, Bitfinex

For the fifth candle in a row, the 3-day candles have managed to puncture the Bollinger Bands in a move that indicates an overbought market. We have yet to see an attempt to move within the Bollinger Bands and provide some relief for the high price range.

Zooming in a little closer, we can see that clear signs of bullish exhaustion formed as we began to push the most recent set of all-time highs:

Figure_4.jpg
Figure 4: BTC-USD, 2-Hour Candles, Bitfinex, Bullish Exhaustion

The first thing that pops out about this trend is the decrease in volume (shown in pink) leading into this morning’s all-time high. Upon reaching that high, sell volume began to pick up considerably (labeled in blue) and has continued to remain strong during the push into the $4300 and $4200 prices. The previous all-time highs (labeled in yellow) are currently paired with a decreasing MACD moving average/signal line trend that indicates the market is losing bullish momentum across the macro trend.

The BTC-USD market seems to be running on fumes at the moment, but I would not  be surprised at all to see an all-time high squeezed out of this market. However, I would be VERY surprised if that all time had any notable follow-through. The market volume on the macro levels has steadily declined, and there are key market indicators that hint toward the need for sustained sideways consolidation. Alternatively, a strong market pullback might be in the cards for BTC-USD. Each push toward the new highs has been greeted by strong sell volume. In the event of a market retracement, your key support levels on the macro exist along the Fibonacci Retracements shown below:

Figure_5.JPGFigure 5: BTC-USD, 4-Hour Candles, Bitfinex, Key Support Levels

When the market begins to struggle to push new all-time highs, it is important to keep a close eye on the volume and see how it interacts with the price movement. Consistent price growth on decreasing buy volume is a signal that the bears, although losing the battle in price currently, are gathering as the market nears its final top before ultimately correcting or consolidating. And given the price growth over the past 30 days, I would be inclined to lean toward the former rather than the latter.

Summary:

  1. Short squeezes and long squeezes have begun to shape the current market trend.

  2. On the macro and micro scale, the market is showing a highly overbought market and is beginning to lose upward steam.

  3. Key support levels lie on the Fibonacci Retracements shown in Figure 5.

Trading and investing in digital assets like bitcoin, bitcoin cash and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

The post Bitcoin Price Analysis: Long and Short Squeezes Shape a Weakening All-Time High appeared first on Bitcoin Magazine.

Bitcoin bond launch brings digital currency step closer to ‘world of high finance’ – CNBC


CNBC

Bitcoin bond launch brings digital currency step closer to ‘world of high finance’
CNBC
Fisco, a Japanese financial information company, announced this week a unit of the company has issued a bitcoin bond. The bitcoin bond “brings digital currencies into the world of high finance,” said Dan Doney, chief executive officer of Securrency.
Australia Is Heading Towards Legalizing BitcoinCoinTelegraph

all 5 news articles »


CNBC

Bitcoin bond launch brings digital currency step closer to 'world of high finance'
CNBC
Fisco, a Japanese financial information company, announced this week a unit of the company has issued a bitcoin bond. The bitcoin bond "brings digital currencies into the world of high finance," said Dan Doney, chief executive officer of Securrency.
Australia Is Heading Towards Legalizing BitcoinCoinTelegraph

all 5 news articles »

Bitcoin Cash Breaks Price Doldrums to Push Past $400 – CoinDesk

CoinDeskBitcoin Cash Breaks Price Doldrums to Push Past $400CoinDeskThe largest Bitcoin Cash market by-volume is Bithumb, which accounts for roughly 30 percent of the global trade through its Korean won-Bitcoin Cash trading pair, CoinMarketCap figures …


CoinDesk

Bitcoin Cash Breaks Price Doldrums to Push Past $400
CoinDesk
The largest Bitcoin Cash market by-volume is Bithumb, which accounts for roughly 30 percent of the global trade through its Korean won-Bitcoin Cash trading pair, CoinMarketCap figures show. The exchange reports more than $145 million in volume over the ...

and more »