BTC/USD dropped to lows of $9,850 before bulls vigorously defended the important $10,000 peg
Bitcoin continues to hold the $10,000 support area despite a late Tuesday dip that took prices below $9k and saw investors brace themselves for a retest of prices near $9,700.
A pullback from highs of $12,400 to lows of $10k is not at all surprising given historical price action. However, the drop happens alongside a broader retracement in the equities market, especially with tech stocks that have continued to plunge over the past week.
However, it’s not just the bitcoin-stocks correlation factor analysts are looking at here. There’s something called a CME gap, which is the difference in price at close on Friday for the conventional CME Futures exchange and where markets open when trading resumes.
Since BTC/USD trades happen around-the-clock, gaps may appear if the price shoots or falls over the weekend.
Historically, Bitcoin’s price has retraced 95% of the time in the days and weeks after a gap to “fill” it. The latest such gap appeared when BTC/USD raced to highs of $10,000 on the weekend of July 25-26 after the derivatives marketplace closed on July 24, with the top cryptocurrency trading around $9,665.
Bitcoin bulls defend $10k
Despite yesterday’s dip taking Bitcoin to lows of $9,850, bulls aggressively bought the dip during the Asian trading session. BTC/USD shot back above $10k after bears staged an unsuccessful attempt around $9.9k.
Bitcoin has printed higher lows and lower highs on the 4-hour charts, currently trading around $10,100. If bulls hold the support level and prevent a retreat to 24-hour lows, BTC/USD could aim for another leg up.
The psychological $10,500 provides the next major hurdle, with further upsides likely to face seller rejection at 50-MA around $11,199.
On the downside, a leg down during the European and US trading sessions could see bulls forced to defend $9,800 again. If the level falls to the bears, an oversold RSI would accelerate the dip to the $9,800-$9,700 level. Beneath this area, bears could aim for the 200-MA on the daily charts at $9,092.
SingularityNET Partners With Ocean Protocol Prior to the AI-Based DeFi Fund Launch
[Press Release – Amsterdam, Netherlands, 18th May 2021]
The collaboration will see the OCEAN token’s inclusion in SingularityDAO’s index fund/investment portfolio. Moreover, SingularityDAO is designed to leverage AI at multiple levels: AI manages dynamic token-sets, executes predictive market-making strategies to provide liquidity for these token-sets on DEXs, and predictively models hedging strategies.
All this AI requires a lot of data to learn and improve, which is why SingularityDAO is a natural user of Ocean data sets – data sets published via Ocean Market (and other Ocean-based markets) into the Ocean ecosystem. The Ocean ecosystem is host to many diverse and varied trading and DeFi data sets. These make excellent candidates for consumption by SingularityDAO’s AI agents to enhance its financial modeling.
I’m really excited by the opportunity to work together with Ocean Protocol, one of the most respectable projects in crypto that has been constantly delivering community-driven, decentralized data solutions. SingularityDAO will constantly make use of data to train our ML and I can’t think of a better partner than Ocean Protocol. – Marcello Mari, CEO at SingularityDAO
The news follows the successful completion of a total of $5.2 million raised in three different rounds for the highly anticipated Governance Generation Event on MANTRADAO, which reached its hard cap within less than 2½ hours.
The protocol, described as ‘DeFi meets decentralized AI,’ held the event exclusively for SingularityNET $AGI holders and attracted 5,800 registrations in one week. The token sale raised $1.6 million (8,000,000 SDAO).
The successful Governance Generation Event follows a recent private sale wherein SingularityDAO raised $2.7 million of funding from a number of top-tier investors such as AlphaBit, Marshland Capita, GBV, and SMO Capital. SingulariyDAO’s governance token has been generated on May 13th and distributed on the same day. It is currently trading on Uniswap.
SingularityDAO is a decentralized platform, governed by the SDAO token, tasked with governing DynaSets. DynaSets are diversified baskets of cryptocurrency assets dynamically managed by AI and curated by the protocol. SingularityDAO brings the financial sophistication of AI-managed funds to DeFi, deploying SingularityNET’s AI technology to navigate complex markets.
About Ocean Protocol
Ocean Protocol’s mission is to kickstart a Web3 Data Economy that reaches the world, giving power back to data owners and enabling people to capture value from data to better our world.
Data is a new asset class; Ocean Protocol unlocks its value. Data owners and consumers use the Ocean Market app to publish, discover, and consume data assets in a secure, privacy-preserving fashion.
Bought the Dip? MicroStrategy Purchased $10M in Bitcoin at $43.6K
Michael Saylor’s NASDAQ-listed company continues with its initiative to purchase sizeable amounts of bitcoins at frequent intervals. The firm said earlier today it had allocated another $10 million in cash in BTC, and its total stash is over 92,000 coins.
- The founder and CEO of the business intelligence giant announced the latest purchase on Twitter earlier on May 12th.
- It reads that the firm has bought 229 bitcoins for $10 million in cash at an average price of $43,663 per coin.
MicroStrategy has purchased an additional 229 bitcoins for $10.0 million in cash at an average price of ~$43,663 per #bitcoin. As of 5/18/2021, we #hodl ~92,079 bitcoins acquired for ~$2.251 billion at an average price of ~24,450 per bitcoin. $MSTRhttps://t.co/fU6LN4WbKI
— Michael Saylor (@michael_saylor) May 18, 2021
- Keeping in mind the multiple purchases made since August 2020, the firm holds 92,079 bitcoins. MicroStrategy has paid $2.251 billion for its stash, with an average price of $24,450 per token.
- Although this is far from being the largest single acquisition, as the company once bought more than $1 billion worth of BTC, this one actually comes in a compelling moment.
- In fact, buying 10 million coins at an average price of $43,663 means that MicroStrategy has taken advantage of a popular narrative in the crypto community – buy the dip.
- The price of the primary cryptocurrency has suffered severely in the past week or so after Elon Musk announced that Tesla has stopped receiving BTC payments for its electric vehicles.
- In a matter of days, bitcoin fell from over $58,000 to a three-month low of $42,000.
- Although losing $16,000 of value in less than a week could be considered a major blow, and some investors disposed of their coins even at a loss, MicroStrategy has reaffirmed its promise to continue buying bitcoin as part of its reserve treasury strategy.
Capixal Review 2021: Make Your Trading Special
Successful traders have always focused on two things that led them there. The first is a good trading strategy, and the second is a good broker. There is a difference between a forex broker and a stockbroker. The top forex brokers in the world are not the best forex brokers, while many online brokers are considered good brokerage firms. In this article, we will talk about Capixal forex broker, a brokerage company that novice traders can use to make money.
Many traders want to make very quick money, and many different brokers are aware of this fact. The traders, due to this trait of wanting to earn quickly, are always at a risk of losing money. The risk of losing money rapidly increases when the lost capital is the money when trading CFDs.
Capixal broker is one the best online brokers out there and offers three main trading accounts. Platinum account, Gold account, and Silver account. The gold and platinum accounts are subject to similar leverage, with the professional accounts also being the same at it. The broker also offers the retail investor accounts, and it has to be kept in mind that the holders of the retail investor accounts lose money because of the improper use of leverage and CFD.
The account opening process with the broker is not that hard and can be easily done over the internet. The Silver account users, Platinum account users, and Gold account users are all subject to equal leverage with the broker Capixal. Each account can be considered a professional account because the broker certainly treats the users like they had their holdings in retail accounts. The broker provides the best services in terms of the trading account that a user can have.
Although it has to be kept in mind that quick money can never be made in the market no matter how good the broker is. Sometimes traders say that CFD trading is easy and can help them make money, but that is not right. It is a complex trading instrument and can wreak havoc on the trader. The trading market has never entertained non-experienced traders.
Financial trading has always been reliant on trading signals and trading platforms. The broker Capixal offers the best out of both. In fact, a lot of traders call forex trading bliss with this broker.
What is Capixal?
Capixal is an online broker that saw the face of the market in 2021.
The parent company of the firm is IFC investments, and it is a regulated and licensed company. The broker provides its users with the best experiences in online trading. Suited best for newbie traders, Capixal also provides them with customized investment news under its education area.
The broker happens to be regulated by the CySEC and provides negative account balances with segregated balance and p[protection for the traders.
This is an important step in novice traders because they make mistakes most of the time. None of the experienced traders would do and hence, are always in need of constant supervision of the broker.
The traders are open to trade more than 300 tradable instruments that cover cryptocurrencies, indices, forex, and many more. The broker is happy to serve the traders as they need its services to survive in the market.
What account types are offered by Capixal?
One of the best online brokers, Capixal offers three different trading accounts. The silver account, the platinum account, and the gold account. The Platinum and Gold accounts holders are subject to similar leverage, while the Silver account also bears the same leverage with itself. The broker also offers retail investor accounts. Although it has to be kept in mind that the holders of the retail investor accounts are more susceptible to losing their money because of lack of information and the wrong use of trading CFDs.
The process to open an account with the broker. The Platinum account users, the Silver account users, and the Gold account users are all subject to equal leverage for the broker Capixal. Each account can be treated as a professional account because the broker certainly provides services like the users are making their transactions under a professional account.
Which assets can I trade with Capixal?
As stated above, the broker provides more than 300 tradable assets to the traders, out of which they can trade on almost anything they want. The traders are open to using these assets as their will and can also go short on the market if they desire.
This is pointed out because a lot of brokers do not provide going shot on the market due to capitalistic reasons but not Capixal. This broker trusts its traders and makes them. It should be kept in mind that although the broker offers CFD trading, the traders should not trade on CFDs. We have said this enough and will say that again that CFDs are complex trading instruments and should be used carefully.
What are trading applications provided by the broker Capixal for trading?
The broker offers the most advanced trading platform, the MetaTrader4. The platform can be used in multiple trading platforms like WebTrader, mobile applications, and many more. The Capixal trading platforms are one of the best, and the traders can trust them to put their bets on.
The market analysis and educational resources that come along with these platforms are the best. They can be used so that the market can be understood in a better way. Traders can start trading and use the forex leverage to elevate their trading experience and account balances.
The platform that the broker provides can be used over the desktop as well as mobile. The different analytical tools act as a garnish on the serving. The platforms also come with an economic calendar that the traders can use as they need. The trading assets are all at par with the trading platform and are one step away, with the instant access that is provided by the MetaTrader trading software.
Is the broker Capixal Regulated?
The broker offers to trade in currency pairs, so it is regulated. Capixal is the trade name of the reputed and famous investment firm IFC investments Cyprus LTD.
The broker is regulated and authorized by the top financial institution Cyprus Securities and Commission Exchange (CySec), under license no 327/16. Moreover, the broker follows all the rules issued by financial bodies like EU, MFiD, and Investors Compensation Funds (ICF).
As stated above, the broker is the best choice of the retail traders who specialize in trading forex and professional traders who are the movers of the financial market, the broker has to be regulated with such an extravagant population that it has. Stock trading is also done from the broker, making it a necessity for the broker to be regulated.
The trading history of the broker is awe-inspiring under a volatile market. The financial markets have always been volatile, and to support the traders, the broker has a dedicated customer support team.
How can I open an account with Capixal?
It is easy to open an account with the broker Capixal. The traders can choose from three different account types, Silver, Platinum, and Gold. All. These accounts are commission-free and subject to variable spreads that the broker needs to make its bread. Variable spreads are generally floating, and they begin from as low as 0.7.
The broker’s leverage is kept the same for all the accounts and can be used by traders to make the correct trades.
To open an account with the broker, readers need to go to the broker’s website and then follow the web page’s steps. After most of it is done, the traders are asked to submit different identity and address proofs because the broker is subject to the standard AML and KYC regulations.
The minimum balance with the broker is $20, and trading can be done up to the fifth decimal point. The broker offers swap discounts and also offers spread betting.
The broker is regulated and offers training on more than three hundred trading instruments. This is more than effective for a novice trader. The novice also has to be sure that he or she is using CFDs and futures properly.
Trading is a risky business and should never be done as a side business. It needs to focus more than anything in the world and a mind made out of sheer Ice. Remember, no matter how good the broker is, if you are not good enough, none of it can help. Trade wisely and never trade on emotion.
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