Although CME’s Bitcoin futures trading products do not deal in actual Bitcoin, they indirectly affect the open market price.

The price of one actual Bitcoin on the open crypto market, known as spot BTC, fluctuates based on a countless number of factors, such as trading volume, usage and adoption. However, other catalysts affect the asset in a roundabout manner. Cash-settled Bitcoin futures trading products from the Chicago Mercantile Exchange stand as one arguable highly referenced indirect element contributing to Bitcoin’s (BTC) price direction. 

“The Bitcoin derivative products offered by CME are simply a vehicle for accredited investors to place sophisticated and risk-offsetting trades that would othe ... Read more »

Category: News | Views: 54 | Added by: andryvrozhkov | Date: 18.10.2020 | Comments (0)

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Bitcoin has faced a slight reversal since the highs of $11,750 set a number of days ago. The coin currently trades for $11,350 as of this article’s writing, 3.4% below the highs.

Analysts remain optimistic despite the price reversal. One historically accurate analyst that has called a number of pivotal movements in the Bitcoin price said that the cryptocurrency is primed to hit $12,000 as we enter the second half of October. The cryptocurrency could continue even higher to new year-to-date highs by the end of the month, the analyst said.

Bitcoin Primed to Hit $12,000, Historically Accurate Analyst Says

Bitcoin is primed to move toward $13,000 by the end of the month, a crypto-asset trader r ... Read more »

Category: News | Views: 45 | Added by: 4zvezda | Date: 18.10.2020 | Comments (0)

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Bitcoin price is holding an important support near the $11,230 level against the US Dollar. BTC is likely to rally above $11,500 as long as it is above the $11,000 pivot level.

Bitcoin started a downside correction after it failed to clear the $11,600 resistance zone.
The price is still trading well above the $11,000 pivot level and the 100 simple moving average (4-hours).
There is a declining channel or a bullish flag pattern forming with resistance near $11,450 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair could start a strong upward move once it clears the main $11,450 and $11,500 resistance levels.

Bitcoin Holding Key Support

This past w ... Read more »

Category: News | Views: 45 | Added by: 4zvezda | Date: 18.10.2020 | Comments (0)

Jeff Bezos is the world’s richest man, but someday if bitcoin crosses a certain valuation then Satoshi Nakamoto will be the wealthiest if he/she or they are still alive. Today, Satoshi Nakamoto, is the 157th richest person worldwide, and the crypto asset will have to cross six digits in order to surpass the Amazon founder’s net worth.

In 2020, the founder of Amazon has a whopping 175 billion and he’s currently the richest person on earth today. According to the real-time billionaires’ tracker, a data set that measures the net worth of individuals and families with great wealth, Bernard Arnault and his family hold $122 billion.

... Read more »

Category: News | Views: 76 | Added by: danyagames2007 | Date: 18.10.2020 | Comments (0)

The entry of firms like Square, MicroStrategy and Stone Ridge may open the BTC floodgates and provide “confidence for the rest to follow.”
 

October is a time for surprises. On Oct. 8, right on cue, mobile payments giant Square, which boasts a market cap of $86.6 billion, announced that it had invested $50 million in Bitcoin (BTC). Five days later, asset manager Stone Ridge Holdings, which manages over $10 billion in assets, disclosed that it had purchased more than 10,000 BTC, worth around $114 million, as part of its treasury reserve strategy. 

They both followed MicroStrategy, a Nasdaq-listed asset manager, which made known last month that it had accumulated $425 million in Bitcoin, making BTC th ... Read more »

Category: News | Views: 53 | Added by: danyagames2007 | Date: 18.10.2020 | Comments (0)

The recent weakness in the dollar is giving Bitcoin some momentum to possibly test multi-year highs.

Historically, a weaker United States Dollar leads to strength across other “safe haven” assets. By analyzing the correlation, such momentum and conclusion can also be drawn with Bitcoin (BTC) and the USD.

Bitcoin has gained in 2020 as the U.S. Dollar Currency Index (DXY) has been having a tough year. But will this momentum continue in the coming months? Let’s take a closer look at the charts.

Bitcoin has to hold the $11,000 support level to avoid a CME gap test at $9,600

... Read more »

Category: News | Views: 47 | Added by: danyagames2007 | Date: 18.10.2020 | Comments (0)

Bitcoin volatility has fallen to a 16-month low, signalling that a sharp move in BTC looms.

Bitcoin (BTC) options aggregate open interest has increased to $2 billion, which is 13% below the all-time high. Although the open interest is still heavily concentrated on Deribit exchange, the Chicago Mercantile Exchange (CME) has also reached $300 million.

In simple terms, options derivatives contracts allow investors to buy protection, either from the upside (call options) or downside (put options). Even though there are some more complex strategies, the mere existence of liquid options markets is a positive indicator.

For example, derivative contracts allow miners to stabilize their income which is tied to a cryptocurrency& ... Read more »

Category: News | Views: 49 | Added by: danyagames2007 | Date: 18.10.2020 | Comments (0)

Bitcoin (BTC) Price Prediction – October 18, 2020

BTC/USD price has been stagnant above $11,300 support. The price movement is insignificant as the market remained range-bound. The critical support zones of $11, 100, $11,200, and $11,300 remain unbroken as price continues to consolidate

Resistance Levels: $10,000, $11,000, $12,000
Support Levels: $7,000, $6,000, $5,000

BTC/USD – Daily Chart

Bitcoin price has been stuck between $11,200 and $11,440. The ... Read more »

Category: News | Views: 37 | Added by: danyagames2007 | Date: 18.10.2020 | Comments (0)