Archive for Cryptocurrencies

Stimulus packages to steadily boost the price of Bitcoin

By George Prior

The price of Bitcoin and other cryptocurrencies is set to rise due to the limitations of record-shattering stimulus packages, affirms the CEO of one of the world’s largest financial advisory and fintech organizations.

The comments from Nigel Green, chief executive and founder of deVere Group, come as the European Commission on Wednesday proposed a €750 billion ($826 billion) stimulus package to help the EU towards economic recovery.

In addition, in the U.S., the House passed a record-breaking $3 trillion relief package. Other countries’ central banks, including those in China, Japan and Australia, have taken similar measures.

Mr Green says: “The steps being taken by governments and central banks around the world to boost their respective economies can be expected to trigger a steady increase in the price of Bitcoin.

“As the largest cryptocurrency by market capitalisation, this will have the effect of bringing up the wider crypto sector too.

“By printing huge sums of helicopter money to push into financial systems, traditional currency becomes devalued.

“Bitcoin, of course, cannot simply be printed. Indeed, it is living up to its reputation as ‘digital gold.’ Like the safe-haven precious metal, it’s widely accepted as being a store of value and is valued for its scarcity.”

He continues: “There’s also the legitimate concern over inflation.

“Governments are promising literally boundless stimulus.  This money has to go somewhere, so will prices rise? Many experts are expressing fears about a longer-term inflationary boom.

“To hedge against inflation risks, it is likely that more and more investors will increase their exposure to Bitcoin and other digital currencies, driving up prices.”

A high-profile cryptocurrency advocate, Nigel Green has recently noted that looking beyond the current macro climate, we will see an upward, long-term trajectory in the price of Bitcoin due to real-world issues it addresses and increasing adoption.

The deVere CEO concludes: “By the printing of never-seen-before amounts of money, traditional currencies are devalued, inflation fears rise, and crypto prices will steadily increase.”

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 29.05.2020 (BITCOIN, ETHEREUM)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the daily chart, BTCUSD is once again attempting to reach the high at 10072.20 to complete the correction. A breakout of the high is just a question of time because even the MACD lines are directed upwards, thus indicating further uptrend. The next upside target may be 76.0% fibo at 11450.00.

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

In the H4 chart, after re-testing 23.6% fibo, BTCUSD is forming a Triangle correctional pattern. Under such circumstances, the main scenario suggests that the price may break the channel’s upside border and then reach the high at 10072.10 or even the fractal at 10505.60. However, even in this case one shouldn’t exclude a possibility of a breakout of the pattern’s downside border. After that, the instrument may continue falling to reach 38.2%, 50.0%, and 61.8% fibo at 7727.00, 7002.00, and 6278.00 respectively.

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, after testing 50.0% fibo, ETHUSD is growing towards the high at 227.46. After reaching and breaking it, the asset may continue growing towards 76.0% fibo at 241.40 and then the fractal high at 288.98.

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

As we can see in the H4 chart, after reaching 38.2% at 174.82, ETHUSD has failed to test it properly. At the moment, the pair is steadily moving towards the high at 227.46. The main scenario implies a breakout of this level. However, if the instrument rebounds from it, the price may re-test 38.2% fibo at 174.82 or even reach 50.0% fibo at 158.62.

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.

RoboForex Adds New Cryptocurrency Pairs and Improves Conditions for Trading Digital Assets

May, 25th, 2020

Limassol, Cyprus

RoboForex, an international financial broker, increases the list of cryptocurrency pairs available for trading by adding ETH/BTC and LTC/BTC. Apart from this, the broker has significantly improved trading conditions for clients who use Pro-Standard and ECN accounts.

Until now, RoboForex clients who trade cryptocurrencies through MetaTrader 4 and MetaTrader 5 trading platforms could use only those cryptocurrency pairs that included fiat currencies, such as BTC/USD, ETH/USD, XRP/USD, LTC/USD, BCH/USD, EOS/USD, BTC/EUR, and ETH/EUR. From now on, the list will offer two more assets, which consist only of cryptocurrencies, ETH/BTC and LTC/BTC. These instruments are already available in MT4 and MT5 terminals.

In addition to the expansion of the list of available assets, RoboForex has improved conditions for trading digital currencies. The Company has significantly reduced spreads for trading cryptocurrencies on Pro-Standard accounts and decreased the commission for operations involving cryptoassets by 1.5 times on ECN ones.

Denis Golomedov, Chief Marketing Officer at RoboForex, is commenting: “We’ve added new instruments, which our clients wanted so much. Like I said earlier, a considerable part of them trade cryptocurrencies and we believe this area has great potential. To make our services more comfortable and attractive to clients, we’ve also improved conditions for trading cryptocurrencies for some of our account types, where we’ve decreased spreads and commissions. We’re not going to stop here and will consistently realize our plans involving new products and improvements in the interests of our clients.”

About RoboForex

RoboForex is a company, which delivers brokerage services. The company provides traders, who work on financial markets, with access to its proprietary trading platforms. RoboForex Ltd has the brokerage license IFSC/60/271/TS. More detailed information about the Company’s products and activities can be found on the official website at roboforex.com.

 

Fibonacci Retracements Analysis 22.05.2020 (BITCOIN, ETHEREUM)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, some time ago, BTCUSD attempted to reach the high and tried to stay close to it for a while. However, bulls were not strong enough to continue pushing the asset upwards, and, as a result, the instrument started a new decline towards 23.6% fibo. In the nearest future, the price is expected to continue falling to reach 38.2%, 50.0%, and 61.8% fibo at 7727.00, 7002.00, and 627800 respectively.

BTCUSD_H4
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 correctional wave. We can see that the wave is approaching 23.6% fibo.

BTCUSD_H1
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 re-testing 61.8% fibo and rebounding it, ETHUSD has failed to reach the high at 227.46; right now, it is moving downwards. After reaching 23.6% fibo, the descending wave may continue towards 38.2%, 50.0%, and 61.8% fibo at 174.82, 158.62, and 142.42 respectively.

ETHUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the divergence made the pair fall and reach 23.6% once again.

ETHEREUM_H1

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 15.05.2020 (BITCOIN, ETHEREUM)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the daily chart, after reaching 61.8% fibo and then forming a descending correctional impulse to test the support at 8880.00, BTCUSD has started a new growth, which may be considered as an attempt to test the high. Later, the asset is expected to resume falling and forming the correction, which may be followed another ascending structure towards 76.0% fibo at 11450.00.

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

The H4 chart show more detailed structure of the current correction after the divergence. We can see that the first descending impulse has already reached 23.6% fibo. If the pair fails to break the local high at 10072.20, the next descending wave may reach 38.2%, 50.0%, and 61.8% fibo at 7727.00, 7002.00, and 6278.00 respectively.

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, after breaking 61.8% fibo and attempting to reach 76.0% fibo at 241.40, ETHUSD is moving downwards. The first descending wave has failed to test the support at 165.90 but the next one may succeed. After completing the pullback, the asset may form one more ascending structure to break the high at 227.46 and then continue growing towards 76.0% fibo at 241.40 and then the fractal high at 288.98.

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

In the H4 chart, the divergence made the pair reverse and reach 23.6% fibo but not 38.2% fibo at 174.84 yet. The latter level may be reached only after the price forms a rising impulse. After that, the asset may continue falling towards 50.0% and 61.8% fibo at 158.62 and 142.42 respectively.

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 halving Q&A: what it’s all about and what it means for the cryptocurrency

By Andrew Urquhart, University of Reading

Bitcoin, the first and leading cryptocurrency in terms of trading volume and market capitalisation, went through its third “halving” on May 11 2020. This major adjustment to how the cryptocurrency operates has only happened twice before and happens every four years. But what does this actually mean and what impact will it have?

Q: how does bitcoin work?

Bitcoin is a digital currency that makes use of blockchain technology to store and record all transactions. First proposed in a white paper published online in 2008 by a mysterious person (or group of people) called Satoshi Nakamoto. The unique features of bitcoin compared to fiat currencies like dollars or pounds are that there is no central authority or bank. Each member of the network has equal power. This decentralised network is completely transparent and all transactions can be read on the blockchain. At the same time it offers privacy in terms of who owns the cryptocurrency.

Bitcoins are created (or mined) by so-called miners who contribute computing power to securing the network, as well as processing transactions on the network by solving complex mathematical puzzles through computational power. These miners are rewarded for their work processing the transactions on the blockchain with bitcoins. But to combat inflation, Nakamoto wrote into the code that the total number of bitcoins that will ever exist will be 21 million. Right now there are 18.38 million.

The first ever block recorded on the bitcoin blockchain was on January 3 2009 where Nakamoto received 50 bitcoins. In the white paper, Nakamoto specified that after every 210,000 blocks the reward for miners will half. So the first halving took place on November 28 2012 where the miner’s reward was reduced from 50 bitcoins to 25 bitcoins. The second halving was on July 9 2016 and the miner’s reward was reduced from 25 bitcoins to 12.5 bitcoins. And the third, most recent halving on May 11 2020 means bitcoin miners now receive 6.25 bitcoins.

Q: Why does bitcoin halve?

Nakamoto has never explained explicitly the reasons behind the halving, but many, such as Michael Dubrovsky, co-founder of cryptocurrency mining firm PoWx, have speculated that the system was designed to distribute coins more quickly at the beginning to incentive people to join the network and mine new blocks. Block rewards are programmed to halve at regular intervals because the value of each coin rewarded is deemed likely to increase as the network expanded. However, this may lead to users holding bitcoin as a speculative asset rather than using it as a medium of exchange.

Q: What impact does halving have on bitcoin?

The obvious impact is that the amount of newly mined bitcoins per day will fall from about 1,800 to 900 bitcoins and the daily revenue of miners will reduce by half. This decrease in the rate of bitcoin creation tightens supply and some argue will lead to a bullish market and an increase in the price of bitcoin.

Meanwhile, the reduction of revenue for miners may squeeze out miners who are least efficient and therefore the computing power connected to the Bitcoin network may fall significantly.

Bitcoin value over time. Coindesk

The previous two halvings led to the most dramatic bull runs in Bitcoin’s history, although initially there was a brief sell-off. Marcus Swanepoel, co-founder and CEO of Luno, a cryptocurrency wallet which lets you store and carry out bitcoin transactions, believes that bitcoin may achieve a growth of 270% between this and the fourth halving in 2024.

Q: How is coronavirus affecting things?

Although bitcoin has gained more than 20% since the beginning of the year, where this halving may differ from its predecessors is the volatile and uncertain economic environment that it has taken place in. The International Monetry Fund predicted a 3% shrinking of global growth in its April forecast and this is expected to fall further. In the UK, the Bank of England has projected a decrease of 30% in the country’s GDP during the first half of 2020.

Some argue that bitcoin’s scarcity makes it a potential hedge against fiat currencies that are vulnerable to devaluation in times of economic crisis. But others believe the halving won’t necessarily boost its price as people knew the halving was going to happen so it should be already priced into the market activity.

The only certainty is that the growth of new bitcoins has halved. It remains to be seen what impact this will have on the price and interest of this cryptocurrency.

About the Author:

Andrew Urquhart, Associate Professor of Finance, ICMA Centre, Henley Business School, University of Reading

This article is republished from The Conversation under a Creative Commons license. Read the original article.

Bitcoin halving highlights crypto is part of mainstream finance: deVere CEO

By George Prior

– Bitcoin’s historic halving event on Monday underscores that the “long-term future of cryptocurrencies is secure”, says the CEO and founder of one of the world’s largest independent financial advisory organizations.

The comments from deVere Group’s Nigel Green come as the world’s supply of Bitcoin was forever slashed on Monday. The highly anticipated halving event, occurring only every four years, means that less and less Bitcoin – which is limited to 21 million units – wiil now been mined.

Monday’s was only the third ever halving. In 2012, the number of new Bitcoins issued every 10 minutes fell from 50 to 25. In 2016, it went down from 25 to 12.5. Now, in the 2020 halving, it will drop from 12.5 to 6.25.

The halving happened on block 630,000.

Nigel Green says: “The historic Bitcoin halving event has demonstrated in two ways that digital assets’ long-term future is secure.

“First, the price had been rising steadily ahead of the highly anticipated event – almost three-fold in the last three months – and then dropped back just before and after it took place.

“This shows that there has been increasing retail demand for Bitcoin as investors see and understand the growing influence and huge opportunities of digital currencies in an increasingly tech-driven world.

“With this in mind, large cryptocurrency investors, known as ‘whales’, accumulate crypto at much lower prices then start a sell-off to capitalize on this sustained growing demand.”

He continues: “Second, history teaches us that after this post-halving drop in price, there is a subsequent bull run.

“Previous Bitcoin halving events have prompted impressive price climbs. The 2016 halving triggered a 300% jump in the value of Bitcoin.

“There is no reason to believe this time the market will not respond with a longer-term upward trajectory.

“Indeed, the rally which is likely on its way could potentially be even more dramatic because there is more mass awareness than ever before of the long-term use of and need for digital currencies.”

The deVere CEO adds that in these unusual times, central banks have increased monetary supply and this will further drive prices of cryptocurrencies such as Bitcoin.

“Traditional currencies are devalued and inflation fears rise on the back of the mass printing of money, the likes of which we have recently seen in the U.S., where the nation’s central bank has added trillions of dollars to the money supply,” he says.

“Such measures will inevitably encourage even more investors to consider decentralised, non-sovereign digital currencies.”

Mr Green concludes: “Looking ahead beyond the halving event, cryptocurrencies are increasingly becoming regarded as the future of money due to the real-world issues they address and growing mass adoption.”

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 08.05.2020 (BITCOIN, ETHEREUM)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the daily chart, the asset is correcting to the upside after completing the previous downtrend. By now, it has reached 61.8% fibo and may yet continue this rising tendency towards 76.0% fibo at 11450.00. However, the tendency may continue only after a slight pullback with the first target at 50.0% fibo at 8880.00.

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

In the H4 chart, the uptrend has already broken mid-term 76.0% fibo and may continue moving to break the fractal high at 10505.60. At the same time, the MACD indicator is forming a divergence, which hints at a possible pullback. The support is те far from 61.8% fibo at 8000.00.

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 H4 chart, the divergence on MACD made the pair stop growing at 61.8% fibo and start a new correction to the downside. The downside correctional target is 38.2% fibo at 165.90. After completing the correction, ETHUSD may form one more ascending structure towards 76.0% fibo at 241.40 and then the high at 288.98.

ETHUSD_H4
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 correction. After reaching 23.6% fibo, the price has formed an internal pullback. Later, after the pullback, the pair may start a new descending wave towards 38.2% fibo at 174.90. However, if the instrument breaks the resistance at 227.46, it may resume the mid-term uptrend.

ETHUSD_H1

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.

What determines the value of cryptocurrencies?

By Michael Kuchar

When compared to fiat currencies, cryptocurrencies are not backed by central governments as a legal tender. Central governments state that their currency has a particular value, and the parties in a transaction trust the stated value. Most countries operate using a fiat currency system, with monetary reserves and central banks controlling their supply of money, indirectly controlling inflation. While both entities are supported by quite similar characteristics, there are some essential differences between the two.

Cryptocurrencies are purely digital in nature, and most on the other hand, have a fixed supply, therefore ensuring that the devaluation of a cryptocurrency due do inflation is non-existent. There is no middleman when it comes to transacting in cryptocurrencies, and they are fairly easy to acquire and easy. Being volatile in nature and limited in supply, the value of cryptocurrencies change frequently, making it an enticing investment opportunity to venture into for seasoned traders and amateurs alike. What exactly determines the value of cryptocurrencies though?

What are the biggest determinants of cryptocurrency prices?

As does the very basics of economics dictate, for an entity with a fixed supply possibility, and a fluctuating demand, if a cryptocurrency has a high surge in token supply at a time, but little demand for the same from users and traders, its value will drop. Similarly, if the supply of a cryptocurrency is less, but its demand is high, the value of the coin will rise.

A scarcity of supply will only end up driving up prices when the demand for that particular entity increases. This is one of the main reasons which saw the price of bitcoin soar. Bitcoin has a fixed cap of 21 million tokens, which when compared to other tokens is quite low, while its demand has soared exponentially over the years. To put it into perspective, on the 22nd of May, 2010, two Papa John’s pizzas sold for 10,000 bitcoins! As of the 30th of September, 2019, the price of bitcoin stands at $7,813.

Speculation, social media and media have a great impact on the price of cryptocurrencies as well. New developments in a particular cryptocurrency technology, a fork and an increase in popularity, all in turn may lead in the increases in value of a cryptocurrency. If a token receives negative publicity, its demand is likely to reduce, which in turn will lead to a dip in its price. If the same token were to receive good media coverage and high profile support, the price is all but certain to increase over time. To put it into perspective, cryptocurrency prices are heavily influenced by hype and emotion.

According to bitcoin CaptainAltcoin’s lending systems article, other factors that may end up having a big bearing on the eventual price of a cryptocurrency at any point of time are the usefulness of a token with respect to its utility and the underlying blockchain technology used, with respect to its usefulness in solving real-world problems. The mining difficulty of proof-of-work (PoW) tokens too could have a bearing in dictating its value. The higher the difficulty in mining, the harder it is to increase the supply of a token. This could eventually lead to upward pressure on its price when the demand for the coin is high.

Why do cryptocurrency prices fluctuate so often?

To put it into perspective, the cryptocurrency market is relatively new when compared to other trading institutions. Limited liquidity exists with respect to the cryptocurrency market when compared to other established markets. To put it into perspective, the value of all the money in the world is upwards of $90 trillion, while the cryptocurrency market cap is at $250 billion.

According to wallstrategies.com on a daily basis, cryptocurrency trading values hover at about $14 billion, while forex trades account for about $5 trillion. A major investment, or sale in the cryptocurrency world would lead to shockwaves, disrupting the market and maybe even causing it to crash, while the same would be but a mere ripple to other established trading institutions. Cryptocurrencies are sold and traded on exchanges, accounting for a single point of failure. If an exchange is hacked into and a large sum of money stolen, it can have a devastating effect on the tokens stolen, and lead to serious credibility issues. All these factors combine into fluctuating cryptocurrency prices, sometimes leading to huge surges in prices, while at other times leading to immense price dips.

Conclusion on what determines the value of cryptocurrencies

New possibilities, several options and a thin market with respect to depth makes it easy to fluctuate the price of an entity, thereby leading to its volatility. Nevertheless, the volatility of cryptocurrencies makes for interesting investing possibilities and the opportunity to earn quick money if you know what you are doing. The future holds great promise for the cryptocurrency world, with several established institutions opting for blockchain technology. Once touted a bubble waiting to burst, cryptocurrencies have taken the world by storm, and is hear for the long run.

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.

 

Bitcoin Trades Like the S&P 500, and is Testing Resistance

By TheTechnicalTraders 

– If you pay attention to the trends taking place on the Weekly Bitcoin chart, you’ll notice that it has reacted to the global market Covid-19 trends almost exclusively since the beginning of 2020.  After the end of 2019, the US stock market rallied on Q4: 2019 data and so did Bitcoin.  The US Stock market peaked near February 20 and began a deeper selloff on February 25 – Bitcoin followed this pattern as well.  When the US Fed initiated the stimulus on March 23, Bitcoin prices had already started to bottom in anticipation of the Fed stimulus and really began to rally after the Fed began intervening.

Before you continue, be sure to opt-in to our free market trend signals
before closing this page, so you don’t miss our next special report!

Bitcoin VS S&P 500 Daily Chart Comparison

This is a bit unusual for Bitcoin, which in the past didn’t correlate to the US stock market trends all that well.  What changed?  We believe the sudden correlation of Bitcoin to the US Stock Market trends are related to investor psychology and the perceived efforts of the Central Banks in supporting the global economy.

We find it interesting that a decentralized cryptocurrency, which is supposed to be independent of global central banks and governments, suddenly aligns almost perfectly with the US stock market in correlation with the US Federal Reserve.  It is almost as if Bitcoin prices are much more aligned with the global economy and global central banks as this crisis event unfolds.  This suggests the true value of Bitcoin is not as an alternate, decentralized currency.  The true value of Bitcoin is a hyper-speculative alternate store of value – unrelated to any real asset or oversight process.

What’s Next for Bitcoin – Weekly Chart

If our research is correct, the current downside price channel (Resistance) originating from the June 2019 highs will prompt a massive breakdown in price over the next 5+ weeks – possibly longer.  There are two key factors that lead us to this conclusion.  First, the correlation to the US stock market, which we believe will continue to move lower until an ultimate bottom is reached near July or August 2020.  Second, the massive Fibonacci Price Amplitude Arc inflection point (the GREEN ARC) which will be reached in less than seven days.

If Bitcoin continues to mirror the US stock market price action and this inflection point does what we believe, then a massive breakdown in price may start to trend sometime between May 8 and May 14.

Daily Bitcoin Chart

This Daily Bitcoin Chart shows you what we believe to be the most likely outcome going forward.  A bit of upward price rotation to potentially retest the resistance level, then a moderate selloff, followed by a brief sideways trend before an even deeper selloff begins.  This may be a map of what the US stock market may do over the exact same span of time.

CONCLUDING THOUGHTS:

Our researchers believe the ultimate bottom will set up near the end of Q3: 2020.  We believe general weakness will push the US stock market price towards an ultimate low/bottom near July or August 2020.  After that bottom completes, Q4: 2020 may see a moderate upside price trend as the Santa Rally mode kicks in.  If Bitcoin mirrors this move, then it may attempt to move below the $3850 level and ultimately attempt to find a bottom below $3000.

Our researchers believe Bitcoin has recently aligned with the US stock market and the global central banks.  If this is the case, then the “alternate decentralized currency” aspect of cryptos becomes a useless component of the market.  If Bitcoin mirrors the SPY going forward, then it is just an expensive, highly volatile alternate measure of the US stock market and global central bank activities.

Watch for the price breakdown near May 10th or so.

As a technical analyst and trader since 1997, I have been through a few bull/bear market cycles in stocks and commodities. I believe I have a good pulse on the market and timing key turning points for investing and short-term swing traders. 2020 is an incredible year for traders and investors.  Don’t miss all the incredible trends and trade setups.

Subscribers of my Active ETF Swing Trading Newsletter had our trading accounts close at a new high watermark. We not only exited the equities market as it started to roll over in February, but we profited from the sell-off in a very controlled way with TLT bonds for a 20% gain. This week we closed out SPY ETF trade taking advantage of this bounce and entered a new trade with our account is at another all-time high value.

Ride my coattails as I navigate these financial markets and build wealth while others watch most of their retirement funds drop 35-65% during the rest of this financial crisis going into late 2020 and early 2021.

Just think of this for a minute. While most of us have active trading accounts, what is even more important are our long-term investment and retirement accounts. Why? Because they are, in most cases, our largest store of wealth other than our homes, and if they are not protected during the next bear market, you could lose 25-50% or more of your net worth. The good news is we can preserve and even grow our long term capital when things get ugly like they are now and ill show you how and one of the best trades is one your financial advisor will never let you do because they do not make money from the trade/position.

If you have any type of retirement account and are looking for signals when to own equities, bonds, or cash, be sure to become a member of my Passive Long-Term ETF Investing Signals which we issued a new signal for subscribers.

Chris Vermeulen
Chief Market Strategies
TheTechnicalTraders.com