Day: December 11, 2017

With the CBOE Bitcoin futures going live, no one is surprised the demand is pretty massive. During the first few hours, things have progressed rather nicely.  At the same time, the massive gains triggered two warnings already. At the 10% and 20% gain level, the CFE halted trading of these Bitcoin futures. In every case, the trading resumes pretty quickly. All of this shows the demand for Bitcoin will not diminish anytime soon.

The Bitcoin futures trading is a big development for the world’s leading cryptocurrency. Institutional investors can now speculate on the future BTC price. As one would expect, the demand for such a speculative vehicle is rather steep. In fact, it is so steep the CFE had to halt trading of CBOE futures twice already. These halted trades are triggered automatically whenever major gains occur. In this case, it happened at a 10% and 20% gain compared to the original price.

Bitcoin Futures Make Their Mark

This goes to show there is a genuine bullish sentiment regarding the Bitcoin price. More specifically, the actual BTC price has also appreciated nicely over time. While the futures are still valued higher than the BTC price itself, it does paint an interesting future. It is very likely we will see the Bitcoin futures halted again whenever new major gains or massive losses are recorded. Now is the time to speculate on the world’s leading cryptocurrency.

It is uncanny how much demand there is for the products offered by CBOE. Their website crashed earlier this morning as well, which isn’t entirely unexpected. Centralized infrastructure has never been able to keep up with demand for Bitcoin whatsoever. Thankfully, those issues have been resolved rather quickly. It will be interesting to see how this Bitcoin futures market evolves in the next few days.

Moreover, the CME Bitcoin futures will go live in a week from today. With more competition on the market, things will get pretty crazy for Bitcoin during the end of the year. The global demand for Bitcoin has never been higher. Even though people don’t buy BTC directly, the futures contracts will force a big shift in holdings for a lot of people. With everything now back on the up and up, all cryptocurrencies are starting to recover as we speak.

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Power consumption from Bitcoin mining operations is similar to the energy usage of such countries as Oman, Morocco, Serbia and Denmark, according to Digiconomist stats.

On January 25, Manila for the first time will host Blockchain & Bitcoin onference Philippines, an event dedicated to cryptocurrency, blockchain and ICO.

Philippines is a pioneer in the digital assets regulation

At the end of November 2017, the Philippines` Securities and Exchange Commission announced its intention to introduce cryptocurrencies in the legal field. This means that soon the state can become one of the pioneers in the field of regulating digital assets. Legislative security will positively affect the popularity of the Philippines in the crypto community.

Participants are crypto industry professionals

Crypto experts from all over the world will take part in the event: representatives of financial institutions, bankers, entrepreneurs, investors, lawyers, developers of blockchain solutions, startups and professional traders.

Guests will enjoy not only the conference, but also an exhibition

The event takes place in the format of a conference + exhibition, which simplifies the search for potential business partners. Within the conference, speakers will discuss legislative changes in the field of cryptocurrencies and tokens in the Philippines, share the experience of preparing a startup for the ICO, advise which digital assets should be invested in the new year and tell about the benefits of blockchain for business.

Representatives of the international crypto community will gather in the exhibition area: suppliers of mining equipment and farms, crypto exchanged, blockchain projects and investment funds.

The event is held by the international company Smile-Expo

The organizer of the event is Smile-Expo, the company that conducts events of the Blockchain & Bitcoin Conference network in 15 countries of Europe and Asia.

Venue: Edsa Shangri-La Hotel, Manila.

Follow the news on the official website of Blockchain & Bitcoin Conference Philippines.

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The French government has given the official nod for trading unlisted securities using blockchain technology.

4New, world’s first tangible and eco-friendly waste to energy blockchain solution is pushing the energy manufacturers to adopt blockchain technology and revolutionize the Utility Sector, while bringing a positive disruption in the industry. 4New is the first platform to convert waste, collected from households into energy and then sell it back to them, national grids and aggregators. Though the idea of converting waste into energy is not a new one, yet it is for the first time that any initiative has integrated the whole tangible supply chain from waste collection to energy sale, onto blockchain network.

The Blockchain Based Ecosystem for Waste to Energy Conversion

It cannot be denied that blockchain technology is a powerful platform for growth of global economy. The technology is here to stay and even getting more popularity with time across the globe due to its trustless nature and transparency.

4New has launched its utility coin, 4New Coin in its on-going ICO to be ended by December 15, 2017. The 4New Coin works as a “Coin as a Service” to all stakeholders, consumers, industry peers, associates and early adopters. The open source, decentralized blockchain based platform encourages value-based exchange between B2B, B2C and C2C, spotted in waste and energy markets.

4New Coins are utility tokens developed on Smart Contracts that form a binding connection between executing parties, thus, eliminating middlemen or intermediaries and provide an incentive to every exchange on the platform. The ledger provides an auditable and immutable record of all buying and selling transactions of energy and waste, empowering 4New Coin to be a global medium of transaction amongst buyers and companions for all waste and energy administrations .

Smart contract over blockchain platform makes direct payment possible, from consumer to producer, eliminating the need of middleman in between. The smart contract immediately pays for the products or services supplied just after the delivery. This is a big relief for the producers as mistrust and lack of transparency have been the biggest obstacle to demand and supply. It will encourage the energy manufacturers to integrate utilities on blockchain, and, also users to pay for these utilities through cryptocurrencies. Through smart contract based transactions, users will also get hope, orderliness and peace of mind to cater their energy needs effectively. This practice will eventually result in widespread adoption of cryptocurrency worldwide.

Moreover, 4New blockchain platform is to be integrated with 4New Smart Meter, which will provide feedback to the manufacturers after tracking and monitoring consumers’ energy consumption, to help them provide stabilized energy supply to their consumers.

To know about the platform and participate in its on-going ICO, please visit https://www.4new.co.uk/

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Key Points

• Bitcoin gold price made a nice upside move from the $190 swing low against the US Dollar.
• There was a break above a major bearish trend line at $230 on the hourly chart of BTG/USD (data feed from Bitfinex).
• The price is now placed well above the $230 support and the 100 hourly simple moving average.

Bitcoin gold price moved above the $230 resistance against the US Dollar. BTG/USD is now a good buy on dips toward the $230-210 levels.

Bitcoin Gold Price Support

This past week, we saw a downside reaction in bitcoin gold price below the $200 support against the US Dollar. The price moved down and traded as low as $190 where buyers appeared. They were successful in defending more losses in BTG and as a result, the price moved back above $200. The upside move was such that the price was able to break the $230 resistance and the 100 hourly simple moving average. This means that the price moved back in the bullish zone with a close above $210-230.

A high was formed at $277.67 from where the price started a downside correction. It moved below the 23.6% Fib retracement level of the last wave from the $190 low to $277 high. However, the downside move is finding support around $250 level. The most important support is near $230 and the 100 hourly simple moving average. The mentioned level was a resistance earlier and now it could stop declines below $230. The same level is also the 50% Fib retracement level of the last wave from the $190 low to $277 high.

Therefore, any dips from the current levels toward $230 remain supported. On the upside, buyers could target the $300 handle in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for BTG/USD is gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is placed well around the 60 level.

Major Support Level – $230

Major Resistance Level – $270

Charts courtesy – Trading View, Bitfinex

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