Category: Bitcoin
The analysis published under this category are as follows.
Wednesday, July 06, 2016
Correction in Bitcoin Price? / Currencies / Bitcoin
By: Mike_McAra
In short: no speculative positions.
The road to a Bitcoin ETF has proved to be pretty challenging for the Winklevoss twins. First mentioned in 2013, the ETF has yet to be approved by the SEC, more than 2 years after the initial filing. In the recent days, the filing was amended to change the exchange the ETF would be traded on. On the Forbes website, we read:
In their three-year-long quest to offer a Bitcoin ETF, twin brothers Cameron and Tyler Winklevoss made several amendments to their regulatory filing with the Securities and Exchange Commission Wednesday.
After initially deciding to list the proposed Winklevoss Bitcoin Trust (which would go by the ticker symbol COIN) on Nasdaq, they’ve switched to BATS Global Markets, which has become a popular choice for newly launched ETFs and is known for a having technologically advanced exchange.
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Thursday, June 16, 2016
Bitcoin Price Going Parabolic Again, Now At $730 and Up 60%+ In Last Three Weeks / Currencies / Bitcoin
By: Jeff_Berwick
Bitcoin has soared more than 60% in the last three weeks, from $450 to above $700 in a parabolic move.
Wednesday, June 15, 2016
Bitcoin Price Close to $700 / Currencies / Bitcoin
By: Mike_McAra
In short: no speculative positions.
Bitcoin is on the move up. New “reasons” are being dug up for the appreciation. In a Bloomberg article, we read:
Bitcoin surged to a two-year high amid expectations supply of the digital currency will shrink next month.
The cryptocurrency rallied to $696.5 on Monday in Hong Kong, the highest since February 2014, according to data compiled by Bloomberg. It was trading at $689.23 as of 3:50 p.m. in Hong Kong, up 19 percent from Friday.
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Tuesday, June 07, 2016
Bitcoin after Nonfarm Payroll Data / Currencies / Bitcoin
By: Mike_McAra
In short: no speculative positions.
Bitcoin is on the move up and this is the most prominently featured piece of news as far as the digital currency is concerned. On CoinDesk, we read:
Petar Zivkovski, director of operations at bitcoin trading platform Whaleclub, told CoinDesk that in his view, this correlation with the yuan is being used to sell headlines, and that it may not paint a portrait of what is happening on the ground.
"The theory that the Chinese are buying bitcoin due to yuan devaluation is a nice story to tell, but is in our view incomplete,” he told CoinDesk, adding:
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Monday, May 30, 2016
Bitcoin Price Skyrockets And Is Now Up More Than 100% This Jubilee Year / Currencies / Bitcoin
By: Jeff_Berwick
Bitcoin has risen more than 25% in the last week, from near $430 to a high over $545 today.
Tuesday, May 24, 2016
Bitcoin Trading Alert: Bitcoin Price Stays below $450 / Currencies / Bitcoin
By: Mike_McAra
In short: short speculative positions, target at $153, stop-loss at $515.
Bitcoin has enjoyed a spell of decreased volatility which has led some commentators to draw parallels between the currency and other asset classes, gold being an example. On the Wall Street Journal website, we read:
In April, volatility in bitcoin’s price fell below that of gold for 28 consecutive days, the longest period in its history. Bitcoin volatility also briefly dropped below that of another flight-to-safety trade, the Japanese yen, according to data from FactSet and CoinDesk.
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Wednesday, May 18, 2016
Bitcoin Price Remains above $450 / Currencies / Bitcoin
By: Mike_McAra
In short: short speculative positions, target at $153, stop-loss at $515.
Banks are looking into the possibility to come up with their own versions of Blockchain. At the same time, none of these emerging solutions are as tested in real life as Bitcoin itself. So, the Bitcoin network has its advantages, even if you are not a Bitcoin believer. On the Bitcoin Magazine website, we read:
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Tuesday, May 10, 2016
Bitcoin Price Space for Move up Limited / Currencies / Bitcoin
By: Mike_McAra
In short: short speculative positions, target at $153, stop-loss at $515.
A Swiss town is now embracing Bitcoin in an experimental move, we read on the Engadged website:
Most experiments in paying with digital currencies have come from private companies, but the Swiss town of Zug is trying something different. As of July 1st, the community is launching a trial that will let you pay for public services using Bitcoin -- as long as you're shelling out the equivalent of 200 francs ($206 US) or less, you can skip old-fashioned money. The trial will run through the rest of 2016, though whether or not it lives beyond that depends on the town council's findings.
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Friday, May 06, 2016
The Bitcoin Drama Continues: Craig Wright Disappears and Andresen Says He Was Bamboozled / Currencies / Bitcoin
By: Jeff_Berwick
Yesterday we wrote about our doubts on Craig Wright and who he is. Less than 24 hours later he has disappeared.
You can say one thing about bitcoin: it's never boring! Tracking developments surrounding it is more entertaining than a spy novel.
But, whatever Craig Wright may have had in mind doing with Gavin Andresen seems to have collapsed. Andresen had solidly endorsed Wright’s claim about being Satoshi Nakamoto only yesterday and seemed delighted that his mentor had decided to “go public.”
Tuesday, May 03, 2016
Is Craig Wright The Creator Of Bitcoin? Frisby and Matonis On ‘Satoshi Nakamoto’ / Currencies / Bitcoin
By: GoldCore
Craig Steven Wright, an Australian computer scientist, self-declared cyber security expert and entrepreneur, has claimed to be the creator of Bitcoin, the elusive ‘Satoshi Nakamoto’.
Tuesday, April 19, 2016
Fake Moves in Bitcoin Price / Commodities / Bitcoin
By: Mike_McAra
In short: short speculative positions, target at $153, stop-loss at $515.
Remember how Ethereum was touted as the system which could replace Bitcoin and its price skyrocketed? Now, the system is back down after Ether (the currency of the system) lost more than 50% of its value, we read on CoinDesk:
Read full article... Read full article...While bitcoin has seen range-bound prices, ether plunged more than 56% during the week ending 15th April at 12:00 UTC, according to Poloniex figures.
Tuesday, April 12, 2016
Bitcoin Price in Tight Range / Currencies / Bitcoin
By: Mike_McAra
In short: short speculative positions, target at $153, stop-loss at $515.
Bitcoin might change how the banking landscape looks like, but it most likely won’t substitute banks, we read on CNBC:
(…) Brock Pierce, the chairman of the Bitcoin Foundation, said that while the adoption of blockchain will hit parts of a bank, it will ultimately create opportunity.
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Friday, April 08, 2016
Bitcoin Price Volatility Deceptively Low / Currencies / Bitcoin
By: Mike_McAra
In short: short speculative positions, target at $153, stop-loss at $515.
A custom Bitcoin-based record-keeping system has been tested on credit default swaps (CDSs), we read on the Wall Street Journal website:
Read full article... Read full article...Banks including J.P. Morgan Chase & Co. and Citigroup Inc. have successfully tested the record-keeping technology behind bitcoin on credit-default swaps, a move that could help it gain a foothold in mainstream finance.
Friday, April 01, 2016
Bitcoin Edging Towards Declines / Currencies / Bitcoin
By: Mike_McAra
In short: short speculative positions, target at $153, stop-loss at $515.
If you have been wondering what kinds of applications there might be for Bitcoin on Wall Street, apart from settlement work, a new idea has been just highlighted. In an article on the Wall Street Journal website, we read:
Read full article... Read full article...Depository Trust & Clearing Corp., a firm at the center of Wall Street's trading infrastructure, is about to give the technology behind bitcoin a big test: seeing whether it can be used to bolster the $2.6 trillion repo market.
Tuesday, March 22, 2016
Bitcoin Trading Alert: $400 Level Becoming More Important / Currencies / Bitcoin
By: Mike_McAra
In short: short speculative positions, target at $153, stop-loss at $515
It has been known for some time that Bitcoin transactions are not really anonymous. Now, a company focused on Blockchain surveillance has received significant venture capital funding, we read on The Telegraph website:
Read full article... Read full article...A British technology company that attempts to fight crime by spotting suspicious Bitcoin deals has raised $5m (£3.5m) as banks and regulators begin to take the blockchain technology that backs up the virtual currency seriously.
Tuesday, March 15, 2016
Bitcoin Price Not Far from $400 / Currencies / Bitcoin
By: Mike_McAra
In short: short speculative positions, target at $153, stop-loss at $515.
Microsoft has dropped Bitcoin from its Microsoft Store, we read on the Fortune website:
Back at the end of 2014, Microsoft started allowing many people to pay money into their accounts using bitcoins. However, it has now quietly removed the option.
The change applies to both Windows 10 and Windows 10 Mobile, meaning people won’t be able to top up their balances with bitcoins in order to buy games, music and so on.
It’s not clear why Microsoft has suddenly gone cool on Bitcoin, but it is worth noting that it never went all in — the feature never saw a wide geographical rollout, and Microsoft never accepted bitcoin for its own products and services.
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Tuesday, November 10, 2015
Top in Bitcoin Price Might Be behind Us / Currencies / Bitcoin
By: Mike_McAra
In short: short speculative positions, target at $153, stop-loss at $515.
Nobel Prize winner Eugene Fama has recently expressed his views on Bitcoin in an interview with the Bitcoin Uncensored Podcast:
Read full article... Read full article...BU [Bitcoin Uncensored]: If you're carrying that much cash, you probably would want the anonymity features of bitcoin. On another note, why do we have 2% processing charges on credit cards you would say? If in fact the cost of moving money is zero.
Thursday, November 05, 2015
Bitcoin Price Surges 55% In Month – Chinese Moving Capital Into Bitcoin and Gold / Currencies / Bitcoin
By: GoldCore
Bitcoin has been surging in value since mid October and gained more than 20% yesterday alone. At one point, it hit a yearly high of more than $491 (see chart).
Monday, November 02, 2015
Bitcoin Price Doubles in 10 Months / Currencies / Bitcoin
By: Ashraf_Laidi
Bitcoin is on course for posting its 8th consecutive weekly gain (longest series of advances since late 2013) and is up 113% from its January lows. The recent break out in momentum emerged from last week's decision from the European Court of Justice to classify Bitcoin as a currency rather than a commodity, which means it will be exempt from VAT, thereby, improving its chances of being traded in an exchange.
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Saturday, July 11, 2015
Bitcoin Price Up on Probable Greek Deal / Currencies / Bitcoin
By: Mike_McAra
In short: no speculative positions.
Greece seems to have given in to its creditors’ demands for more austerity as the Greek government sent out a revised reform proposal yesterday which included substantial concessions on its part. Is this the end of the Greek drama? Most likely not.
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