Archive for Cryptocurrencies

Bloomberg’s cryptocurrency policy puts him on the right side of financial history

By George Prior

Presidential candidate Michael Bloomberg’s proactive cryptocurrency plans place him on the right side of financial history, affirms the CEO of one of the world’s largest independent financial services and advisory organizations.

The chief executive and founder of deVere Group is speaking out after the New York-based billionaire presidential hopeful proposed creating a regulatory framework for cryptocurrencies in a new financial regulation plan.

The plan notes: “Cryptocurrencies have become an asset class worth hundreds of billions of dollars, yet regulatory oversight remains fragmented and undeveloped.”

Mr Green comments: “Michael Bloomberg is, to date, the only candidate to become president of the world’s largest economy who has devised a coherent plan for cryptocurrencies.

“The staggering pace of the digitalization of economies and our professional and personal lives underlines that there will be – must be – growing demand for digital, global, borderless money.

“Indeed, digital currencies are now almost universally regarded as the future of money.

“This is why most central banks around the world – including the Federal Reserve – major financial institutions, tech giants, and multinationals are all getting involved.

“As such, Bloomberg’s proactive and progressive approach, which could be the first step to providing regulations to protect consumers and prevent illicit activity in the new age, must be championed.”

Nigel Green has long been a vocal advocate for cryptocurrency regulation.

He notes: “Digital currencies are already becoming mainstream and that means that they should adhere to the same standards as the rest of the financial system.

“Regulation is necessary as it will provide further protection for the growing number of people using cryptocurrencies, the less likely it will be that criminals will use these digital payment methods, the less potential risk there will be for the disruption of global financial stability, and the more potential opportunities there will be for higher economic growth and activity in those countries which introduce it.”

Last year, the deVere CEO criticised President Donald Trump who took to Twitter to say: “I am not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.”

In response, Mr Green blasted: “Does the President seriously think that traditional, fiat currencies are the way forward?”

Nigel Green concludes: “Cryptocurrencies are redefining and reshaping the financial system. The Leader of the Free World needs to be ahead of the curve and on the right side of history on such a fundamental issue.”

About:

deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement

 

Fibonacci Retracements Analysis 14.02.2020 (BITCOIN, ETHEREUM)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

The H4 chart shows a steady rising tendency. After BTCUSD had reached 50.0% fibo, there was a divergence on MACD, which made the pair resume falling. The support is at 38.2% fibo (9263.40). after completing the correction, the instrument may start a new rising impulse towards 61.8% and 76.0% fibo at 11010.00 and 12074.00 respectively.

BTCUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows a new decline after the divergence. The downside targets are 23.6%, 38.2%, and 50.0% fibo at 9965.90, 9632.60, and 9361.00 respectively. The resistance is the high at 10505.60.

BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the daily chart, ETHUSD is moving inside the uptrend, which has already reached 61.8% fibo. The next upside target may be 76.0% fibo at 303.60. right now, there are no signals for a pullback, but it may be forced by a quick descending impulse and a new rising impulse after that. The support is 38.2% fibo at 210.50.

ETHEREUM
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows a new descending pullback after the divergence. The pair has already reached 23.6% fibo and may later continue falling towards 38.2% and 50.0% fibo at 254.40 and 247.30 respectively. the resistance is the high at 277.90.

ETHUSD

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Fibonacci Retracements Analysis 07.02.2020 (BITCOIN, ETHEREUM)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

The H4 chart shows a steady rising tendency. BTCUSD is heading towards 50.0% fibo at 10142.00. At the same time, there is a divergence on MACD, which may indicate a possible pullback soon. The support is at 23.6% fibo (8184.75).

BTCUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, after finishing the pullback, the pair has entered the upside post-correctional extension area between 138.2 and 161.8% fibo at 9806.30 and 9930.20 respectively. The support is the local low at 9078.80.

BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the H4 chart, after updating the high, ETHUSD is trying to fix above 38.2%. The next upside target is 50.0% fibo at 239.50. At the same time, there is a divergence on MACD, which indicates a possible reverse.

ETHEREUM
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is growing towards 50.0% fibo at 239.50, while the MACD indicator is forming a local divergence.

ETHUSD

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Bitcoin price likely to rise until coronavirus peaks

By George Prior

Bitcoin’s price is likely to continue to rise until the coronavirus peaks, affirms the CEO of one of the world’s largest independent financial services and advisory organizations.

The comments from Nigel Green, chief executive and founder of deVere Group, comes as the price of the world’s most influential digital currency has gained more than 10 per cent in a week.

It is also up 30 per cent since the end of 2019, making 2020 the best start to the year for Bitcoin since 2012.

To date, there have been 17,335 confirmed cases of the potentially deadly Sars-like virus, including 362 deaths. Mainland China remains the epicentre of the outbreak, although cases have been reported in more than two-dozen countries including the UK, Japan, Thailand, the U.S., Spain, Australia and Germany.

Mr Green says: “The ongoing upward trajectory of the price of Bitcoin correlates to the spread of the coronavirus.

“The more individual cases that are identified, the more countries around the world that are affected, and the greater the impact on traditional financial markets, the higher the price of Bitcoin has jumped.

“In this regard, we can expect Bitcoin’s price is likely to continue to rise until the coronavirus peaks which, according to a prestigious research group in Hong Kong, is likely to be in late April or early May.”

He continues: “Why have investors been piling into Bitcoin recently?  Because it is increasingly regarded as a safe-haven asset in times of uncertainty.

“Bitcoin, known as ‘digital gold’, shares characteristics of the traditional yellow metal including being a store of value, scarce, being perceived as being resistant to inflation, and a hedge against turmoil in traditional markets – many of which have been pushed in a tailspin since the coronavirus outbreak.”

The deVere CEO says: “Whilst coronavirus and geopolitical tensions have certainly been underscoring the reputation of decentralised, non-sovereign, secure currencies, such as Bitcoin, as safe-havens, they are somewhat peripheral drivers for why cryptocurrencies are now regarded as the future of money.

“These key other factors include that they are digital, they are global, they solve real-life issues, big tech and institutional investors are coming off the sidelines, and worldwide demographics – the growth of the native digital generation – are on the side of crypto, meaning the future is, too.”

Mr Green concludes: “Whilst there will be minor peaks and troughs – as in all markets – I predict the overall trajectory of Bitcoin to remain upward until such time as coronavirus peaks.”

About:

deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement

 

A failed 2019 turned successful in 2020 – XRP’s sudden growth

By ForexNewsNow

2019 was not necessarily predicted to have been so successful for cryptocurrencies. During the months of May, June, and July most cryptos finally started to gain serious momentum in the market and were showing signs of the late 2017 hype that brought us a $20,000 Bitcoin.

However, the hype was simply not enough, nor was the reason for the market to continue growing. Thus Bitcoin, alongside every other altcoin plummeted down to a more sustainable price range, but still in a much better position than 2018.

One cryptocurrency that was not necessarily a part of the major 2019 hype was XRP, and it continued to do so up until the end of the year itself. In fact, the worst-performing XRP within the last two years was identified in December at $0.173 per coin. Now though, the coin has reached a price of $0.253 and is growing as we speak.

Could this trend continue well into February and potential let us see a $0.5 XRP once again? Well, let’s take a look.

24 months of failure behind

According to InvestingHaven’s XRP overview, every lengthy slump is pretty much guaranteed to end with an upward trend. And in the case of this cryptocurrency, we can pretty much say that this prediction was correct.

The price is up almost 50% from December alone, thus giving XRP the title of “best performing crypto of 2020” so far. Sure there’s almost the whole year to go for now, but we can’t argue that XRP truly did recover by a major margin.

Experts say that as long as XRP can maintain the resistance level at $0.261 and not falter in anticipation of challenging it, it’s very likely that the coin will reach 2019’s top price of $0.479 within a couple of weeks.

However, warnings have also flared saying that the support level at $0.247 is extremely fragile, thus creating an environment where a single fluke can tank the whole progress the coin has experienced so far.

By ForexNewsNow

 

Cryptocurrencies to Focus On in 2020

By Michael Kuchar

2020 started with some good moves in some of the major cryptocurrencies. As a bi-directional market which allows you to profit from long trades as well as short trades, these cryptocurrencies could hold great potential for you.

But why should you focus on these cryptocurrencies?

a.) Good volatility with high trading volume

In any financial market, you are basically trading against the dealer or other traders. Without volume and volatility, you are left with a dead cryptocurrency which only ties down your money while good things happen elsewhere…without you. You should be able to buy and sell at will with instant order executions, and your preferred cryptocurrency should have good range of movement to help you profit from its movements.

b.) Easy to buy or sell

The cryptocurrencies to focus on should be the ones that are easy to buy or sell on popular cryptocurrency trading platforms like Binance, Etoro, ROinvesting or IG, as a result of their general acceptability to the entire market. There is no gain in trading cryptos that no one has ever heard of or one that no one wants. If you check for example ROinvesting review, you will easily see which cryptocurrency pairs are commonly traded and which ones are sparsely traded. The candles in the latter will look more like stacked matchboxes than real candles.

Now that we know the character of the crypto assets we should look out for, here are some of the cryptocurrencies to focus on in 2020.

  1. Bitcoin

Bitcoin will continue to command number 1 position because it is the cryptocurrency which best fulfils the conditions listed above. It commands the most market volume, is easy to buy or sell, will always have demand and will have supply willing to meet that demand. It commands great range of movements that can potentially turn the right move into good profits.

  1. Litecoin

Litecoin was created as an analogue of Bitcoin, and so it tends to track the movements of Bitcoin in the market. If Bitcoin is too expensive to trade or commands too much volatility for your account to handle, then Litecoin is a good alternative. Most of the time, you will find that the same price patterns on Bitcoin tend to form on Litecoin, and at lower prices too. So if you have a small account, Litecoin is a good trading alternative for 2020.

  1. Ripple

Ripple may just be the sleeping giant that could awaken in 2020. This is because the project has a working product that is very likely to be the future of global remittance and bank wire transfer systems. More than 75 banks from all over the world have signed up to the Ripple network. How the price of Ripple continues to trade at such cheap levels is still a wonder to many discerning crypto investors. Imagine a company with a product that has the potential to be used by billions of people in the not-too-distant future, and you have Ripple Labs. The Ripple token could be the one to surprise many this year and it is still at cheap level. As at the time of writing, it is not even up to 25 cents per token. What you would use to buy 1 BTC can fetch you nearly 8,600 XRP tokens. Lest I forget, I need to mention that the company was able to secure $200m additional investment in December 2019. Keep an eye on Ripple for 2020.

  1. EOS

EOS is surely but quietly making giant strides in the decentralized apps (dApps) market. While Ethereum and TRON have traditionally been the two names in this space for real-life dApps and gambling-related dApps respectively, EOS is quietly taking over that market. The 260 dApps that have been created on EOS commanded a trade volume of $5bn in the last year, which represented 50% of the total spend on dApps in the market. This also surpassed the total amounts spent on Ethereum and TRON in the dApps market. EOS is also commanding more activity in this space than Ethereum or TRON. The EIDOS launch on the EOS platform has increased the number of transactions on that platform by a factor of X4. EIDOS has conferred on EOS a status of the dApp network which has lower users that command the largest activity volumes. EOS should be on your watchlist for 2020 and the cost of the token is still below $4.

These are the top 4 cryptocurrencies you need to watch out for in 2020, a year that we believe will see greater value for cryptos that are adding value to the ecosystem as well as churning out real-life use case products.

About the Author:

Michael is an experienced financial trader using Forex, Commodities and Cryptocurrencies. In addition to trading, he runs businesses, trains traders and develops trading technology products. His other passions are boxing and traveling.

 

 

Fibonacci Retracements Analysis 31.01.2020 (BITCOIN, ETHEREUM)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, after reaching 38.2% fibo, BTCUSD is trying to get to 50.0% fibo. At the same time, there is a divergence on MACD, which may indicate a possible pullback soon. The support is at 23.6% fibo (8184.75).

BTCUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, after the pair had reached the upside post-correctional extension area between 138.2 and 161.8% fibo at 9552.55 and 9783.85 respectively, there was a divergence on MACD, which made it start a new pullback. The targets of this pullback may be 23.6%, 38.2%, and 50.0% fibo at 9248.00, 9051.40, 8893.30 respectively. The resistance is the local high at 9564.80.

BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the H4 chart, after updating the high, ETHUSD is trying to fix above 23.6%. the next upside target is 38.2% fibo at 210.20. At the same time, there is a divergence on MACD.

ETHUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is growing towards the local post-correctional extension area between 138.2 and 161.8% fibo at 188.05 and 193.65 respectively.

ETHEREUM

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Fibonacci Retracements Analysis 24.01.2020 (BITCOIN, ETHEREUM)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, the divergence made BTCUSD complete the correctional uptrend close to 38.2% fibo at 9262.00. At the moment, the pair is forming a pullback towards 23.6% fibo. After finishing the pullback, the instrument is expected to start a new rising impulse towards 50.0% fibo at 10142.00.

BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows more detailed structure of the current descending correction. The pair is trading towards 38.2% fibo at 8133.60 and may later reach 50.0% fibo at 7808.00. At the same time, there is a convergence on MACD. The resistance is the local high at 9183.20.

BTCUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the daily chart, the correctional uptrend has reached 23.6% fibo. Possibly, ETHUSD may start a short-term pullback and then form a new rising wave towards 38.2% and 50.0% at 210.75 and 239.65 respectively. the support is the low at 116.06.

ETHUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H4 chart shows more detailed structure of the current descending correction. The pair is moving very close to 38.2% fibo at 154.90 and may continue falling towards 50.0% fibo at 147.50. The resistance is the high at 178.99.

ETHEREUM

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Fibonacci Retracements Analysis 17.01.2020 (BITCOIN, ETHEREUM)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the daily chart, BTCUSD continues the correctional uptrend; it has already fixed above the mid-term resistance at 50.0% fibo (8500.00) and may continue towards 38.2% fibo at 9765.00. the current movement may be considered as a new rising impulse to reach the high. However, the price won’t probably start a long rising movement as long as the instrument hasn’t broken the current target level.

BTCUSD_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H4 chart shows more detailed structure of the current ascending tendency. The pair is trading towards 38.2% fibo at 9262.00 and may later even reach 50.0% fibo at 10142.00. At the same time, there is a divergence on MACD, which may indicate a new pullback after the price reaches its target. The support is still the low at 6430.30.

BITCOIN_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the daily chart, after reaching 76.0% fibo, ETHUSD has correcting quite fast. After the convergence on MACD, the pair is moving to test 61.8% fibo at 189.00.

ETHUSD_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H4 chart shows more detailed structure of the current correction. The pair is moving very close to 23.6% fibo at 174.30 and may continue growing towards 38.2% fibo at 210.20. The support is the low at 116.06.

ETHUSD_H4

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Fibonacci Retracements Analysis 10.01.2020 (BITCOIN, ETHEREUM)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the daily chart, BTCUSD has finished the correctional uptrend at the long-term resistance, which is 50.0% fibo at 8500.00. However, we shouldn’t exclude further growth towards 61.8% at 8958.00, but only after a short-term decline, because “Golden Cross” on MACD has been formed very recently. Still, the main scenario implies that the instrument is expected to start a new descending wave to reach the low at 6430.30 and then mid-term 76.0% fibo at 5700.00.

BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H4 chart, the pair is correcting towards the local support, which is 23.6% fibo at 7395.00. If the price rebounds, it may start a new impulse to reach 61.8% fibo at 8958.00. Later, BTCUSD may break this level and fix below it. In this case, the instrument may continue falling to attack the low.

BTCUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the daily chart, the correctional uptrend has stopped at 38.2% fibo. According to the main scenario, the price is expected to fall and reach the low at 116.06, but the next rising wave may head towards 50.0% and 61.8% fibo at 157.57 and 167.40 respectively.

ETHEREUM
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H4 chart shows that after reaching 38.2% fibo, the price has started a new decline. MACD indicates further growth after a short-term decline.

ETHUSD

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.