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Bitcoin BTC Aiming for 7000 Next?

Bitcoin (BTC)  Aiming for $7,000 Next?

Bitcoin (BTC) Aiming for $7,000 Next?

Bitcoin Price Key Highlights

  • Bitcoin price is gaining traction on it bounce off the channel support on its 4-hour time frame.

  • A move to the next upside targets might be in the works and the Fibonacci extension tool marks these.

  • Technical indicators are hinting at weakening bullish momentum, though.

Bitcoin price looks ready to resume its climb and might aim for these upside targets marked by the Fib tool.
 

Technical Indicators Signals

The 100 SMA seems to be crossing below the longer-term 200 SMA to indicate that bearish pressure might return, but it could also be a delayed reaction to the latest slide. If the short-term MA is able to hold its head above the 200 SMA, it could reinforce the presence of bullish momentum.

Bitcoin price could aim for the 38.2% Fib extension from here as this lines up with the dynamic inflection points at the moving averages. The 50% level lines up with the mid-channel area of interest around $6,700 and the 78.6% level lines up with the top of the channel at $6,900. The $7,000 mark might also serve as psychological resistance just before the full extension at $7,075.

Stochastic is heading north so bitcoin price might follow suit while buyers are in control. However, the oscillator is nearing overbought levels to signal exhaustion and a possible return in bearish pressure. RSI has more room to go before hitting overdone levels, which means that buyers could stay in the game for a bit longer.

Bitcoin price seems to be rebounding from a rough start this week as a brand-new month is setting in. This typically brings more optimism and reopening of positions after booking profits at the end of the month, which also coincides with futures settlement.

Besides, the ICE Bakkt bitcoin futures are rumored to be in the works and might usher in stronger volumes and increased activity this November.

 

SARAH JENN | NOVEMBER 2, 2018 | 1:33 AM

Heiko Closhen, Entrepreneur

Blockchain revolution is on the way as Bitcoin slips back under 6300

Blockchain revolution is on the way as Bitcoin slips back under $6,300

Blockchain revolution is on the way as Bitcoin slips back under $6,300

  • Bitcoin dips under $6,300 after a short recovery.

  • Adam Jiwan from Spring Labs touts blockchain technology.

Bitcoin is changing hands at $6,299, marginally higher since this time on Wednesday. However, the shrinking volatility and low trading activity make further upside unlikely.

On the intraday chart, BTC/USD returned to the area under $6,300 after Wednesday's recovery attempt. The stopped short of the lower line of the previous consolidation channel and SMA50 (4-hour). The support lies with $6,200. Once it is broken, the sell-off may gain traction with the next bullish aim at $6,100 and the recent low of $6,060.

The Relative Strength Index (RSI) recovered from oversold territory and settled at a neutral level, which means that more consolidation might be in store for us in the short-term.

Meanwhile, experts believe that the technology behind the cryptocurrency is likely to attract financial and intellectual capital, creating a technological revolution.“Regpic

ardless of how one feels about cryptocurrencies, bitcoin has ushered in a technological revolution that will have profound implications for how information is shared, consumed, and protected,” Adam Jiwan, CEO and co-founder of Spring Labs, explains.

Spring Labs is creating a blockchain-based ecosystem that will allow exchanging credit and identity information in a secure way

“I’m a big believer in the unstoppable nature of technological revolutions, and we’re only ten years into the development of distributed ledger technology. Blockchain will be ubiquitous, and the world will have to adjust. The only question is, “How soon?”

 

 

Tanya Abrosimova Tanya Abrosimova

FXStreet 23 minutes ago

Heiko Closhen, Entrepreneur

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Bitcoin BTC Daily Price Forecast October 30

Bitcoin (BTC) Daily Price Forecast – October 30

Bitcoin (BTC) Daily Price Forecast – October 30

BTC/USD Medium-term Trend: Bearish

Resistance Levels: $6,800, $7,000, $7,200

Support levels: $6,200, $6,000, $5,900

Yesterday, October 29, the price of Bitcoin was in a bearish trend. The digital currency had been range bound above the $6,500 price level in the last three weeks. The cryptocurrency fell to the low of $6,300 and commenced a range bound movement. Previously, the BTC price was range bound between the levels of $6,200 and $6,600.

The crypto's price is likely to revisit the previous low of $ 6,200. This was the lower price range which is likely to be tested. If the price falls again and holds at the $6,200 price level traders should initiate long trades. Then stop-loss orders should be placed below the $6,200 price level. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The price of Bitcoin is below the 12-day EMA and the 26-day EMA which indicates that price is in a bearish trend zone.

BTC/USD Short-term Trend: Bearish

On the 1-hour chart, the BTC price is in a bearish trend. The digital currency is below the 12-day EMA and the 26-day EMA which indicates that price is falling. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
 

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

 

By Azeez M – October 30, 2018

Heiko Closhen, Entrepreneur

Bitcoin Price – BTCUSD Approaching Area of Interest

Bitcoin Price - BTC/USD Approaching Area of Interest

Bitcoin Price – BTC/USD Approaching Area of Interest

Bitcoin is still trending lower inside its short-term descending channel but might be due for a bounce to the top. Support held and a correction to the Fibonacci retracement levels is underway.

Price is testing the 38.2% Fib currently, and this happens to line up with the mid-channel area of interest. Holding as resistance could send Bitcoin back to the swing low around $6,450 or the channel support closer to $6,425. A larger correction could test the 50% Fib that lines up with a former support area that might now hold as resistance, as well as the 100 SMA dynamic inflection point.

The 61.8% Fib is just below the 200 SMA dynamic inflection point and close to the channel resistance, which might be the line in the sand for a correction. The 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. In other words, the downtrend is more likely to resume than to reverse. The gap between the moving averages has been widening to signal strengthening bearish momentum.

Stochastic is heading higher to signal that bulls still have some energy left, and the oscillator has some room to climb before hitting overbought conditions. RSI also has some ground to cover before bulls are exhausted, which suggests that the correction could go on for a bit longer before sellers return.

Pic

Bitcoin might even have enough momentum to break past the channel top, provided market updates also turn out positive. As it is, investors still seem to be holding out for more directional clues and hoping to get confirmation that the earlier rallies might be sustained.

Institutional investment could be a strong factor, but that might have to wait until early next year. The near-term catalyst would likely be the bitcoin futures on ICE Bakkt and it appears that traders are waiting to see how this might impact prices first.

 

SARA JENN · OCTOBER 29, 2018 · 1:30 AM

Heiko Closhen, Entrepreneur

Bitcoin will do more good to civilization than governments and NGOs says Jimmy Song

Bitcoin will do more good to civilization than governments and NGOs, says Jimmy Song

Bitcoin will do more good to civilization than governments and NGOs, says Jimmy Song

 

Jimmy Song, one of the most well-known Bitcoin Core developers, explained the reason why Bitcoin would do more good to the civilization in comparison to the governments, NGOs, and charity, during an interview with Cheddar.

Song started off by speaking about the fiat system, claiming that a lot of money goes to big government and businesses. This, according to him, was because these bigwigs have early access to the inflated money. On the contrary, Bitcoin gives people a sense of ownership over “their own stuff” as it allows people to be self-sovereign over their own money. In addition, Bitcoin cannot be confiscated by anyone including governments. He said:

“… And they [people] start planning on a long termlevel. And the playing field is much more level than the system we have today, which is made mostly to benefit large institutions, banks, governments, large companies that can get really low interest rates and so on.”

However, with Bitcoin, there are a lot of common people who have access to it on a long-term wealth which is not feasible and inflated. According to Song, this leads to entrepreneurship production which builds civilization and this is why he thinks Bitcoin would do more good for civilization than government programs, NGOs, charity, and other programs.

Szmon Baranowski, a Twitterati said:

“He is right. We see first signs of another stock market bubble crash and monetarists, bankers are already attacking BTC like it would be a dangerous for them alternative for people now.”

Additionally, Song recently spoke about Bitcoin’s proof-of-work and why it was important. He said:

“… in order to have real scarcity, real money, transactions that is very difficult to roll back and screw people over on, to not double spend, you need something that is very difficult to reverse. Now, the difficulty of that reversal is directly proportional to how much proof-of-work went into it or how much energy was extended to create it.”

He went on to the say that the idea of proof-of-work is securing the entire ledger and all the transactions which have happened on Bitcoin. Song further added that reducing the proof-of-work would also reduce the security of the ledger.

 

Published 43 mins ago on October 28, 2018 By Priya

Heiko Closhen, Entrepreneur

Digital Marketers are liars

Marketing on the internet has really revolutionized the world of business

...but us Digital Marketers are liars.

We lie to ourselves every day.

The goal is to turn $1 into $3+, right?

…so we come up with these crazy strategies of ads, landing pages, emails, sales pages, bumps, order forms, retargeting, bots, posts, etc, etc, etc,

Then we turn on the switch and… it flops.

Most of the time at least…

But then miraculously, one little sequence takes off and BOOM! You start getting positive ROI on your marketing. Of course, it’s because we are so smart, right? We’re geniuses.

…yeah, right.

Truth is, 90% of the time we have no freakin' clue what actually made us money vs what lost us money.

We have no clue because looking at ALL of the charts, graphs, spreadsheets and numbers is enough to make you want to punch yourself!

…But what if there was a way that you could actually SEE what’s working and what’s not?

 

I mean a way to VISUALLY see the paths and actions that your customers take, instead of guessing at spreadsheets?

Almost like you had “Funnel Vision” (haha… get it? Funnel… vision… nvm)

Let me show you something super cool. Check out this video.

 

Heiko Closhen, Entrepreneur

Godfather of Fintech Uses Cryptocurrency and Blockchain Technology to Make Crowdfunding More Legitimate

Godfather of Fintech Uses Cryptocurrency and Blockchain Technology to Make Crowdfunding More Legitimate

Thomas Carter, a fintech startup veteran and serial entrepreneur, is on a mission to disrupt the traditional finance model capital raising by leveraging cryptocurrency and blockchain technology. Although ICOs are known for their scams and Ponzi schemes, Carter has found a new way to leverage the ICO model and create an alternative to bank financing without the messy scams. He calls this Dealbox, a business accelerator and crowdfunding platform that tokenizes startup companies.

A Quarter Century of Experience in FinTech

As a serial entrepreneur with over 30 years experience in the startup sector, and as a founder who has raised capital in a number industries from finance, multimedia, to sports, and marketing, Carter noted that there had to be a more accessible procedure to fund a company.

Carter mentioned to Entrepreneur Magazine that he launched Dealbox because he wanted to use his experience to help new startup founders and companies raise capital unconventionally, especially since it’s an extremely tough process.

Dealbox: a Business Accelerator and Crowdfunding Platform

Carter created Dealbox, a crowdfunding platform and business accelerator that helps companies in cutting-edge industries like artificial intelligence, 3D printing, Cannabis, payment processing. Carter intends to disrupt the traditional capital raising model by allowing founders to share their business plans with many investors at once instead of doing many rounds of pitches.

The new approach is possible by leveraging new financial technologies to handle large data sets in real-time.

Instead of the traditional crowdfunding approach, DealBox works with and sources the capital organizations from family offices, private equity firms, and knowledgeable investors during the pre-sales process before the public sale.

He noted that one of the most substantial benefits of crowdfunding is its ability to enable the startup to secure small or large investments from a large number of investors. In return, the investors gain partial ownership, dividends, and appreciation for the funds.

Bringing Due Diligence to the ICO Ecosystem

To invest in DealBox’s startups, investors need to purchase “DLBX” tokens during the pre and public sales. DealBox exchanges the cash as early stage investments in the platform. The crowdfunding and business accelerator then undergoes a “lock-up” period for 12 months.

The tokens are fixed at $1 and do not trade freely, ensuring that the investors are protected from any initial volatility. DealBox then ensures that there is an exit after this period like pursuing Form s-1 Filing or uplisting on a cryptocurrency exchange. Part of the company’s profits is then given to the investors in the form of royalties.

“Our crypto-economic analysts rigorously vet startups against the same compliance standards applied to public companies,” said Carter. “DealBox is creating real economic value by raising standards to improve the overall health of the blockchain ecosystem.”

Article From BTCMANAGER
Writen by Cindy Huynh

 

Heiko Closhen, Entrepreneur

What the court decision against BaFin means for the crypto scene ?


What the court decision against BaFin means for the crypto scene ?

Everyone may trade in Germany without license with crypto currencies, judges a  Berlin court and places itself against the financial supervision BAFIN. What are the consequences?

The Berlin Court of Appeal has ruled that Bitcoins are not financial instruments, i.e. they do not fall under the provisions of the German Banking Act (KWG). If this case law prevails, the Federal Financial Supervisory Authority (BaFin) will be the big loser, because in this case the authority would no longer have to be asked for permission for business models related to Bitcoins.

What has happened? In a third instance, the Court of Appeal heard the case of an operator of a Bitcoin trading platform. He did not have the permission of BaFin in accordance with the KWG. Therefore, the Amtsgericht Berlin Tiergarten had sentenced him to a fine in the first instance pursuant to § 54 (1) No. 2, (2) KWG. However, the second instance, the Berlin Regional Court, had acquitted the defendant on appeal. The Court of Appeal, as the next higher instance, confirmed this acquittal with its judgment of 25 September 2018 and now explained in detail why Bitcoins are not subject to the provisions of the KWG: Bitcoins are simply not so-called financial instruments. However, this term is used by many of the KWG's permitted acts.

In particular, the decision contradicts the previous view of BaFin. In one of its bulletins, the authority has so far confirmed that Bitcoins are so-called units of account and thus financial instruments.
By Markus Kaulartz

Markus Kaulartz ist Rechtsanwalt bei CMS Deutschland und hat sich auf IT-Recht sowie IT-Sicherheit und Datenschutz spezialisiert. Er widmet sich insbesondere Rechtsfragen von Unternehmen und Startups in den Bereichen Blockchain, AI, Industrie 4.0, FinTech, IoT und Big Data.

Translated with www.DeepL.com/Translator
Source: https://www.gruenderszene.de/perspektive/bafin-bitcoin-urteil-konsequenzen/

Heiko Closhen, Entrepreneur

Bitcoin Can the Bulls Muster Up a Weekend Rally?

Bitcoin – Can the Bulls Muster Up a Weekend Rally?

Bitcoin – Can the Bulls Muster Up a Weekend Rally?

Bitcoin stuck in the ranges through the early part of the day, with the Bitcoin bulls needing to put some life back into the market to support a breakout.

Price action through the week was limited for Bitcoin, with a 0.06% gain on Friday one of only two days in the week where Bitcoin managed to avoid the red.

3-days in the red left Bitcoin down 0.88% for the current week, with Bitcoin now having fallen short of the 23.6% FIB Retracement level of $6,757 since 18th October, as the steam comes out of Bitcoin and the broader market.

After a relatively range bound start to the day on Friday, Bitcoin rallied to a morning high $6,597.4, breaking through the first major resistance level at $6,575.57 before falling back to the earlier part of the day’s ranges, with resistance at $6,600 pinning Bitcoin back on the day.

An early afternoon intraday low $6,511 held well above the day’s first major support level at $6,469.77, leaving Bitcoin at $6,500 levels through the day, a rare occurrence in the world of Bitcoin and reflective of the lack of volatility in the market.

On the news front, there was some chatter on SEC Commissioner Kara Stein’s view on the setting up of cryptocurrency funds, Stein stating that some internal guidelines on key considerations had been circulated, while she held back from confirming whether any regulated exchange traded funds would be approved before the end of the year.

The regulatory landscape continues to be one of the key obstacles for the SEC to give the green light, with the SEC Commissioner highlighting that there remains a need to get clarity on a range of regulatory issues before the markets can expect institutional money to flood in.

For now the cryptomarket and the Bitcoin bulls in particular, remain optimistic that the SEC will at least give the green light to the VanEck Bitcoin ETF, though it remains to be seen whether issues surrounding valuation, liquidity and custody have been sufficiently addressed.

At the time of writing, Bitcoin was up 0.33% to $6,552.9, with Bitcoin moving from a start of a day morning low $6,524.9 to a morning high $6,560 before easing back, the moves through the early part of the day leaving the day’s major support and resistance levels untested.

For the day ahead, a hold on to $6,550 levels would support a move through the morning high $6,560 to bring the day’s first major resistance level at $6,582.73 into play, while we will expect Bitcoin to fall short of $6,600 levels for a 3rd consecutive day, with the news wires likely to remain relatively silent on the regulatory front through the weekend.

Failure to hold on to $6,550 levels through the morning could see Bitcoin give up the morning’s gain to pullback through the start of the day morning low $6,524.9 to call on support at $6,496.33 before recovering, more material losses unlikely barring particularly negative news hitting the crypto wires.

Looking at the broader market, with Bitcoin’s dominance holding at around 53.6% and the crypto total market cap hovering at around $210bn, there’s been very little action across the majors with Ethereum continuing to hold onto the number 2 spot, Ripple’s XRP struggling to close the gap in spite of the Ripple team’s successes in the real world.

 

Bob Mason

43 minutes ago

Heiko Closhen, Entrepreneur