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Catch Emirati-supported Crypto Price Index’s Hotbit Exchange Listing on 15th July 2020

Bitcoin Press Release: Crypto Price Index have announced details of their CPI token sale, which launches on HotBit exchange on 15th July 2020.   14th July 2020, ST. JULIAN’S, MALTA – 2020 has brought with it a host of challenges and opportunities, not least within the crypto markets, where we have seen a rollercoaster of […]

The post Catch Emirati-supported Crypto Price Index’s Hotbit Exchange Listing on 15th July 2020 appeared first on Bitcoin PR Buzz.

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Bitcoin Press Release: Crypto Price Index have announced details of their CPI token sale, which launches on HotBit exchange on 15th July 2020.

14th July 2020, ST. JULIAN’S, MALTA – 2020 has brought with it a host of challenges and opportunities, not least within the crypto markets, where we have seen a rollercoaster of peaks and troughs reminiscent of the great crypto rush of 2017. Now, with market sentiment rising, and BTC pushing the 10,000 USD range, we are once again looking to innovative projects to usher in the new age of prosperity that could be just around the corner. 

Market sentiment isn’t the only thing on the rise. With over 2,250 crypto coins minted, and more entering the market by the day, investment decisions have never been so numerous, hard to quantify, and potentially lucrative. With this in mind, Crypto Price Index have developed an innovative use of DeFi to provide unparalleled access to the possibilities of the evolving landscape, by offering an index of the 200 cryptocurrencies to both experienced and new traders alike. CEO Herbert Law said the following about CPI’s ability to usher in prosperity and stability;

“Cryptocurrency has the potential to expand opportunities for wealth generation to those who have previously been disenfranchised from legacy financial systems, however, unstable prices reduce the value of cryptocurrency as a store of value. CPI will bring much-needed stability to crypto markets with its suite of tokens whose value is based on the average of top-trading tokens.”

CPI/CPIX Tokens – Distributed Governance & Custom Baskets

The project uses its ERC-20 CPI token as the base unit for operation. Being true proponents of DeFi, governance of the CPI project is distributed across all CPI holders. Ownership of the CPI token allows each holder to decide what is worthy of being included in the CPI ecosystem. 

Ownership of the token also allows CPIX tokens to be minted, which are wrapped (can mimic the value of other tokens) and allows a custom basket of cryptocurrencies to be monitored. For instance, CPI30 will examine 30 selected cryptocurrencies, whereas CPI10 would be more specific, examining 10 tokens. CPI and CPIX are ERC20 tokens and thus can be held in any ERC20 wallet. Crypto Price Index aim to release their own dedicated wallet in the near future.

Listing on HotBit Exchange – 15th July 2020

To power the CPI ecosystem, Crypto Price Index have partnered with HotBit Exchange to facilitate the release of CPI tokens to the public beginning on 15th July 2020. The CPI Token will be available with an initial price of $5. Anyone who is interested in taking their market awareness and insight to the next level should sign up here or at HotBit.io

Royal Connections

In Q4 of 2019, Crypto Price Index made an incredible partnership with prominent Emirati families, as seen on Cointelegraph. The Emirati’s involvement and commitment to the project has brought a level of global competitive edge rarely seen in the crypto industry. The Emirati also provide a wealth of business and financial expertise and connection which could well pave the way to success by global financial navigation that Crypto Price Index will receive. 

Speaking on the announcement, his Highness Sheikh Abdullah Bin Rashed Al Sharqi, an advisor to the board of CPI, said;

“Decentralized finance is one of the most important movements of our time. By providing up-to-date pricing data, Crypto Price Index has the potential to become one of the most valuable sources of information for digital asset traders and market participants.”

Don’t miss the sale! Anyone interested in taking their market analysis to the next level should sign up using this link: https://www.cpiindex.io/

Visit the CPI website to find out more information: https://www.cpiindex.io/

Chat on Telegram: https://t.me/CPIndex 

Keep up with the latest on Facebook: https://www.facebook.com/cryptopriceindex/ 

Catch the buzz on Twitter: https://twitter.com/Index_price 

Check in on LinkedIn: https://www.linkedin.com/company/crypto-price-index/ 

Media Contact Details

Contact Name: Herbert Law

Contact Email: [email protected] 

CPI is the source of this content. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. The CPI token sale is closed to participants of all countries in which token sales are illegal. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Token sales are only suitable for individuals with a high risk tolerance. Only participate in a token event with what you can afford to lose.

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Source: https://bitcoinprbuzz.com/crypto-price-index-hotbit-listing/Source: https://bitcoinprbuzz.com/crypto-price-index-hotbit-listing/

Blockchain

Here’s how Bitcoin’s intraday volatility complicates leverage trading

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The crypto sector is in a bull market, and frequent evidence comes from anonymous traders who post their five-, six- and seven-figure investment returns as screenshots on Crypto Twitter.

This condition creates a FOMO-like situation where everyone gets greedy. The temptation to boost potential earnings by twenty times or more is often irresistible for most novice traders.

Today, almost every cryptocurrency exchange offers leveraged trading using derivatives. To enter these markets, a trader has to first deposit collateral (margin), which is usually a stablecoin or Bitcoin (BTC). However, unlike spot (regular) trading, the trader cannot withdraw from a futures market position until it has been closed.

These instruments have benefits and can improve a trader’s outcomes. However, those who often rely on incorrect information when trading futures contracts end up with heavy losses rather than profits.

The basics of derivatives

These leveraged futures contracts are synthetic, and it is even possible to short or place a bet on the downside. Leverage is the most appealing aspect of futures contracts, but it is worth noting that these instruments have long been used in stock markets, commodities, indexes, and foreign exchange (FX).

In traditional finance, traders measure daily price change by calculating the average closing price changes. This measure is widely used in every asset class, and it’s called volatility. However, for various reasons, this metric isn’t helpful for cryptocurrencies and can harm leverage traders.

Bitcoin 60-day USD volatility. Source: BuyBitcoinWorldwide

To be brief, the higher the volatility, the more often an asset price presents wild oscillations. Contrary to the expectation, moving up by 7% to 10% every day represents a low volatility indicator. This happens because the deviation from the mean is small, while random fluctuations between a negative 3% to a positive 3% present a much wider range.

Markets with very low volatility are perfect for leverage

Knowing the general range of how an asset oscillates is extremely important when opening leverage positions. Take the British Pound Sterling (GBP), for example, and one will notice that its volatility is usually below 1% as surprise aggressive daily price changes are unusual.

GBP currency 60-day USD volatility. Source: BuyBitcoinWorldwide

FX markets are relatively stable markets when compared with stocks and commodities. Therefore, some regulated brokers offer even 200x leverage, meaning a 0.5% move against the position would cause a forced liquidation.

For a cryptocurrency trader, the Swiss Franc’s (CHF) daily change versus the U.S. dollar would likely be seen as a stablecoin.

Swiss Franc (CHF) USD prices. Source: Investing.com

However, the 3.4% daily Bitcoin volatility hides a more dangerous price fluctuation. While measuring daily closing prices for traditional markets makes sense, cryptocurrencies trade non-stop. This difference potentially creates much wider movements within the same day, although the daily closing often masquerades it.

Bitcoin price low-high-close USD prices. Source: CoinMarketCap

The average change between the Bitcoin intraday high and low of the past 180 days is 6.5%. As shown above, these ‘intraday moves’ surpassed 10% on 25 occasions. Meaning, in reality, BTC price oscillations are much larger than expected for a 3.2% daily volatility asset.

20x leverage seems crazy considering Bitcoin’s daily moves

To put things into perspective, a 5% move in the wrong direction is enough to liquidate any 20x leveraged Bitcoin position. This data is clear evidence that traders should really consider risk and volatility when leverage-trading cryptocurrencies.

Fast profits are nice, but what is more important is being able to survive the usual daily price swings to hold on to those unrealized gains.

Although there’s not a magical number to set the best leverage for every trader, one must account for the effect of volatility when calculating liquidation risks. Those aiming to keep positions open for more than a couple of days, aiming for 15x or lower leverage, seem to be ‘reasonable.’

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Here’s how Bitcoin’s intraday volatility complicates leverage trading

Source

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://blockchainconsultants.io/heres-how-bitcoins-intraday-volatility-complicates-leverage-trading/?utm_source=rss&utm_medium=rss&utm_campaign=heres-how-bitcoins-intraday-volatility-complicates-leverage-trading

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Blockchain

YFI, VeChain, Litecoin Price Analysis: 16 May

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YFI’s technicals suggested that the cryptocurrency possessed bullish strength to sustain its rally. VeChain was projected to move sideways within a fixed channel. Lastly, Litecoin traded within $330-$300 – an area that needed to be defended against bearish pressure.

YFI

Source: YFI/USD, TradingView

Year-to-date gains of 210% may be modest when compared to some other alts in the market, but a rise above $55,000 indicated bullish progress for YFI– one that could see sharper gains over the coming months. A breakout above $55,000 had already fueled a 50% jump in value to above $83,000, but a broader market pullback complicated matters. Unable to fully take advantage of its rally, YFI noted choppy movement over the past few days.

Healthy volumes and buying pressure have allowed the price to trade above $63,000-65,000 support. OBV’s uptrend attested to buying activity in the market. Awesome Oscillator’s green bars also conformed with OBV’s stance. There was some resistance around $83,000 and a break above this could see another price swing. Conversely, a breakdown could see losses towards $48,000 or $43,000.

VeChain [VET]

Source: VET/USD, TradingView

An ADX reading of 20 showed a weak directional market as VeChain traded between $0.203 and $0.1666. Low volatility was also evident from the constricted nature of Bollinger Bands. Considering its technicals, VET would likely continue to see some rangebound movement over the coming days.

A rise above $0.203 could spur some additional buying but gains would likely be capped at $0.254-resistance.Having said that, a breakout from $0.254 could see a shift of market dynamics towards the bullish side and volumes must be observed for such an outcome.

Litecoin [LTC]

Source: LTC/USD, TradingView

On the daily chart, Litecoin traded within a buy zone of $330-$300. The current area needed to be defended from a sell-off towards the 50-SMA (not shown) around $266. While the 4-hour chart did register a series of bullish candlesticks, bearish sentiment still prevailed on the daily timeframe.

The Squeeze Momentum Indicator highlighted bearish momentum and a dip below half-line would present a sell signal. This would also lead to a breakdown towards the 50-SMA. RSI floated around neutral-50 but did point north at the time of writing. If the present buy area is retained, a comeback above $330 would become a possibility, however, broader market cues would likely dictate LTC’s trajectory.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/yfi-vechain-litecoin-price-analysis-16-may

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Blockchain

U.S. City to accept crypto payment for utility bills

TL;DR Breakdown Williston to accept crypto payment for utility bills. More tech adoption to be recorded by Williston. Williston, a city in North Dakota, USA, has announced plans to begin accepting crypto payment for utility bills from residents. It becomes the first city in North Dakota to adopt crypto payment. Hercules Cummings, Williston City Finance […]

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TL;DR Breakdown

  • Williston to accept crypto payment for utility bills.
  • More tech adoption to be recorded by Williston.

Williston, a city in North Dakota, USA, has announced plans to begin accepting crypto payment for utility bills from residents. It becomes the first city in North Dakota to adopt crypto payment.

Hercules Cummings, Williston City Finance director, said they have partnered with BitPay, one of the largest crypto payment service providers in the U.S., to help them convert the coins from crypto to fiat in real-time.

Crypto payment steps for Williston

Firstly, the city council said it would monitor how residents respond to crypto payments as only utility bills are going to be paid with crypto.

The city said if residents respond positively to making payment for utility bills with crypto, it would be expanded. They would begin accepting crypto payment for landfills, permits, and licenses.

Residents who intend to pay utility bills are to visit website of the city of Williston, enter their account information to receive an emailed BitPay invoice, and choose their digital wallet and the crypto in which they want to pay.

Rebate citizens can enjoy using crypto to pay utility bills is reduced commission as Exchanges only charge 1 percent for every transaction, unlike other payment services, which can charge up to 3 per cent.

How North Dakota keeps embracing new tech

The city finance director said that his city is only responding to a growing trend and technological changes.

He revealed that crypto represents an innovation for the city’s finance department and a significant step to take the lead in the state and nationwide. Cummings also said that it is just one out of many things that will be rolling out of the finance department.

Williston is the third government entity in the U.S. to embrace cryptocurrencies as adoption takes a fast pace in the country. Wyoming is one of those states, which registered Ripple as an entity and has several crypto-friendly laws.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptopolitan.com/u-s-city-to-begin-accepting-crypto-payment/

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