Connect with us

Blockchain

Bitcoin Market Report: $BTC Bearish

December 30 2018 05:33 UTC   Bitcoin has lost -2.81% or -107.93 USDT in twenty-four hours. In this Sunday Edition find $BTC price action, trend, technicals and more. Or jump right to the Bitcoin $BTC Price Outlook.   Price Action The price of $BTC has fallen over twenty-four hours. The last price at press time […]

Published

on

@KittyBitcoin logo

December 30 2018 05:33 UTC

Price Action

The price of $BTC has fallen over twenty-four hours. The last price at press time is 3730.04 USDT. In Binance light to moderate volume trading the daily change is -2.81%, or -107.93 USDT:

$BTC Price Change
period % USDT
24 hours -2.81 -107.93
7 days -5.08 -199.67
1 month -13.17 -565.68

News

Trend

trend is DOWN

[Trend is “down” when the quarterly price movement is predominantly downwards.]

Real Time Market Depth

The real time market depth is bearish.

[The real time market depth is a fractional representation of the order book, used to assist in determining market direction.]

Chart

Tap / click to zoom:

btc-usdt-binance-one-week-candles-2018-12-29

Remarks

Bitcoin is in a multi month descending trend with lower highs and lower lows. Although $BTC has had some very good days, overall the trend is down.

Normally much shorter term data points would be used for a shorter term analysis like this. Since this is the last Bitcoin $BTC report for the 2018 year, the weekly chart was used to portray the wider perspective.

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the one day chart is bullish. The one week MACD is bearish.

[MACD is a trend-following momentum indicator]

Exponential Moving Averages (EMA)

period average
7 day 4190.99
25 day 5681.19
99 day 6403.45

Using the weekly chart for EMA illustrates how the last price of $3730.04 is so much lower than all (3) of the EMA averages: short, medium and long term. The angle of descent is moderately steep.

[EMA is a type of moving average that weights recent price fluctuations more, yielding a better short term signal]

Relative Strength Index (RSI)

The Relative Strength Index on the one day chart is 46.8. This is a neutral state.

[RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]

Bitcoin $BTC Price Outlook

bearish
  • the Bitcoin $BTC price outlook is bearish
  • if the price finds acceptance at higher levels the major resistance prints at 4198
  • if the price finds acceptance at lower levels the major support prints at 3156
Resistance levels: 4198 3892

Support levels: 3156 3658

Invalidation: This outlook is no longer valid if the asset has performed outside of its resistance or support levels, or outside of its short term analysis duration.

Analysis Duration: six hours

This report is for a short duration of six hours. Analysis is time sensitive.

[Analysis duration yields a “best before date”, calculated from report generation at December 30 2018 05:33 UTC.]

Independent Comparison

Comparing our outlook with independent, automated results from Investing.com shows:

Asset: Bitcoin $BTC

Time Period: Monthly

Summary: strong sell

Moving Averages: sell

Technical Indicators: strong sell

Disclosure

The author holds Bitcoin $BTC at the time of writing.

About @KittyBitcoin

Feed

This KittyBitcoin feed is moving January 01 2019. Use the new feed URL page at: http://kittybitcoin.com/docs/feeds.php

Copyright

KittyBitcoin media is licensed not sold. Copyright©KittyBitcoin.com 2018. All rights reserved.

Thanks for reading 🙂

Source: http://allcoinsnews.com/2018/12/30/bitcoin-market-report-btc-bearish/

News

Shiba Inu Token Is Up 25% Following Coinbase Listing

Published

on

By

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://cryptobriefing.com/shiba-inu-token-is-up-25-following-coinbase-listing/?utm_source=main_feed&utm_medium=rss

Continue Reading

Blockchain

Rising Inflation Could “Destabilize” Stablecoins And Bring Crypto Industry Down — Coinbase CEO In Search Of Solution

Published

on

Rising Inflation Could Destabilize Stablecoins And Bring Crypto Industry Down — Coinbase CEO In Search Of Solution

Advertisement &  & 

In the US, inflation has been on the rise throughout the entire year. Just last month, the consumer price index (CPI) rose by 0.3%. While this has been quite a decline compared to April and May when prices rose by 0.6% on a seasonally adjusted basis, it is still a nerve-racking high.

It has been perceived that rising inflation would benefit crypto since more people would consider acquiring digital assets to hedge fiat depreciation. However, if the US dollar loses value significantly and becomes unstable, it will also adversely impact US-pegged stablecoins, which would infect the entire crypto ecosystem.

In a recent tweet, Brian Armstrong, CEO at Coinbase, has pointed out this issue and asked for possible solutions. 

Crypto Needs to Adapt

Stablecoins are known as the backbone of the crypto ecosystem. They are the safe zone for when the industry goes wild and plummets by double-digit percentages in a matter of hours. Further, they have taken the cross-border payments by storm, so much so that regulators from across the globe warn stablecoins could disrupt banking systems. 

However, these alleged “stablecoins” have a less-known issue: they are hyper reliant on the US dollar. Almost all major stablecoins are pegged to the US dollar. This means if the US dollar loses value significantly, then stablecoins would also lose value. In turn, this would drag the entire crypto ecosystem down.

Advertisement &  & 

Mentioning this, Coinbase CEO has recently commented that stablecoins could very easily become inflation coins. “If fiat-backed stablecoins really become inflation coins (not so stable), then how will we get a coin that is truly stable?” Armstrong tweeted.

Proposing a vague solution, Armstrong added: “Perhaps something that tracks a basket of real-world goods (purchasing power parity) using oracles?”

Armstrong is not the first person who has raised this crucial subject. Previously, Balaji Srinivasan, former CTO of Coinbase, had explained that there are two types of stablecoins. First, there are fiatcoins, which “are pegged to an external fiat currency like USD, directly or indirectly.” Second, there is this newer form of stablecoin, which Srinivasan calls “flatcoins.” 

Srinivasan explains that if “fiat itself starts to inflate, it isn’t really “stable”. So a flatcoin optimizes instead for price flatness vs an on-chain basket of goods.” In simple terms, a so-called “flatcoin” is not pegged to a fiat currency, rather it is pegged to the purchasing power of an asset at a certain period of time. 

Considering the importance of the issue, we should see more projects developing alleged “flatcoins” in the near future — which is also crucial for “de-dollarizing” the crypto ecosystem.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://zycrypto.com/rising-inflation-could-destabilize-stablecoins-and-bring-crypto-industry-down-coinbase-ceo-in-search-of-solution/

Continue Reading

Blockchain

Pacific Union Appoints Mohamed Elsergany as Its Head of MENA Service Center

The new PUG’s hiring has over 12 years of experience in the financial services industry.

Published

on

Pacific Union Group (PUG), an Australia-based forex and CFD broker, has tapped Mohamed Elsergany as its new Head of Service Center for the MENA region. Prior to his new role at the company, Mohamed spent over one year working as MENA Regional Director at CJC Markets.

Furthermore, according to his LinkedIn profile, the new PUG’s Head of Service Center for the MENA region worked for around four years as Business Development Partner at Tickmill, another forex and CFD broker headquartered in Cyprus.

In fact, most of his professional background lies in working in the Business Development field in the financial sector. Before his job at Tickmill, Mohamed worked in FX Solutions as Business Development Partner. Based on Egypt, the new PUG employee also had tenures in Swissquote, MIG Bank, Forex.com, and BMFN Prime, with approximately a career in the financial markets of over 12 years.

Suggested articles

New Economic Calendar Feature Added to FBS Personal Area and AppsGo to article >>

Mohamed’s educational profile notes that he earned a bachelor’s degree in e-Commerce.

Recent Major Banks Executive Moves

In the last few months, the financial services landscape had been quite moved in the MENA region, specifically from major banks. For example, Saxo Bank recently announced that the company had appointed Damian Hitchen, a former Regional Manager at HSBC, as the company’s new CEO of the MENA region.

The newly appointed CEO of the MENA region will report directly to the company’s Chief Sales Officer, Stig Christensen. Hitchen will be based at Saxo Bank’s regional office in Dubai. He will facilitate Saxo Bank’s growth in the region. Furthermore, Barclays Plc announced in August that it appointed Davide Sala as its new Managing Director and Head of Industrials M&A for Europe, Middle East, and Africa (EMEA). Sala has vast experience within the financial industry, having worked for over 22 years at Credit Suisse in London and New York. He focused his career on providing advice on M&A and financing to clients across industrials space.

PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://www.financemagnates.com/executives/moves/pacific-union-appoints-mohamed-elsergany-as-its-head-of-mena-service-center/

Continue Reading
Blockchain4 days ago

SBI-acquired TaoTao exchange in Japan relists XRP

Uncategorized4 days ago

Fortnite says goodbye to season 7 with an alien ship, explosions, and a cliffhanger

Blockchain5 days ago

Polygon invests in Decentral Games to take Play-to-Earn gaming mainstream

News4 days ago

Bitcoin and other crypto scams tied to human trafficking in Asia

Uncategorized4 days ago

All Maps in Battlefield 2042

Uncategorized4 days ago

100 Thieves’ unbelievable comeback against Gambit propels them into VCT Masters Berlin playoffs

Uncategorized4 days ago

The best rookies in NBA 2K22

Uncategorized5 days ago

Bjergsen reportedly returning to pro play for 2022

Blockchain4 days ago

Polkadot, Cosmos, Tezos most likely to follow in the footsteps of Solana

Blockchain5 days ago

Ripple Vs SEC – SEC Files Response to Ripple’s Motion to Seal Documents

Uncategorized4 days ago

Spin-Off Bored Apes and Pudgy Penguins Are Spreading Fast on Solana

Uncategorized5 days ago

Sorry pleb, Elon Musk is really your ‘Dogefather’

Blockchain4 days ago

The Intriguing Stories Behind The Names Of Bitcoin, Ethereum, and Cardano

Blockchain4 days ago

What makes long-term gains a guarantee with Bitcoin

Blockchain4 days ago

Poll: 48% of Brazilians Support Making Bitcoin Their Official Currency

Blockchain4 days ago

Cardano Now Has Smart Contracts Capabilities: Alonzo Mainnet Upgrade Went Live

Blockchain5 days ago

SPACE, NFTs and Abnormalities? Hyper Meteor LTD Has All the Components!

Uncategorized3 days ago

All Ironworks Hand vendor locations in Final Fantasy XIV from A Nocturne For Heroes event

Blockchain4 days ago

Crypto-related money laundering next on China’s policy framework

Blockchain4 days ago

The positive side of BNB’s price movement, is the opportunity to buy the dip

Trending