Will Bitcoin Repeat Its November 2018 Behavior?

It’s Friday, October 18, 2019, and once again, everybody’s favorite cryptocurrency has fallen into the $7,000 range. Yesterday, we reported that bitcoin was potentially back above $8,000 and likely to experience greater swells from here, but it appears there’s still cause for concern.
Bitcoin Again Heading for Lows
Bitcoin has been moving up and down for roughly one month. The late September bloodbath that ultimately caused the currency to lose about $1,400 in just a matter of minutes seems to have had a long-term effect on the currency, as it has yet to show any serious signs of recuperation.
How can a coin that was trading in the $13,000 range just a few months ago have lost so much of its value so quickly? This is a question that’s likely on every crypto enthusiasts’ mind, and it seems that there’s an even bigger cause for concern. Could we potentially see bitcoin repeat its actions of November 2018? Will the currency stay where it is or worse – fall even lower – in the coming months and take an exorbitantly long period to fix itself?
As we all remember, the currency lost more than 70 percent of its value in November of last year. Following a bitcoin cash hard fork that ultimately gave birth to the controversial new coin bitcoin SV, the currency saw itself hanging around the mid-$3,000 range after it had spent all summer standing at $6,000. It took roughly five months (until April of 2019) for the currency to recuperate, and even then, it only rose back up to $5,000. Nearly two years have passed since bitcoin hit its all-time high of nearly $20,000, and it has yet to earn back a significant portion of these losses.
As it would seem, the entire crypto market is suffering during today’s early morning hours. Ethereum, for example, has lost all its gains over the past 24 hours and is now trading for about $172. Litecoin is down to $53, and bitcoin cash is trading for $213 – the worst it’s been in weeks.
Mati Greenspan – senior analyst at e-Toro – claims:
Across all crypto venues, volumes are dismal. This is a giant lull in crypto volumes across the board.
Things Aren’t That Bad?
However, Greenspan doesn’t appear convinced that bitcoin is necessarily suffering per se, nor does he seem to believe that BTC is done for. As it stands, he describes bitcoin as being in a “sleeping position,” and we’re likely to see this change in the coming months. He comments:
Let’s not forget that bitcoin is one of the best performing assets this year. After all this action, a period of stabilization is more than welcome. Bitcoin is not dead; it’s just resting.
He’s probably not the only one who thinks this, considering figures like Tim Draper estimate bitcoin will eventually reach six-figure status within the next few years.
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Bitcoin Cash Analysis: BCH Could Continue To Slide

Bitcoin cash price is struggling to rebound and is trading below $225 against the US Dollar.
The price is currently declining and it could slide below the $210 and $205 supports.
There is a key bearish trend line forming with resistance near $220 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).
The pair must break $220, $225 and $230 to start a fresh increase in the near term.

Bitcoin cash price is facing a lot of hurdles near $225 against the US Dollar. If BCH/USD breaks the $200 support, it could decline heavily in the coming days.
Bitcoin Cash Price Analysis
This week, there was a steady decline in bitcoin cash price below the $230 support against the US Dollar. Later, the BCH/USD pair made a couple of attempts to climb above $230, but it failed. As a result, there was a fresh decline below the $225 support area and the 55 simple moving average (4-hours). It opened the doors for more losses below the $215 level.
Recently, the price traded as low as $213.9 and corrected higher. It recovered above the 23.6% Fib retracement level of the recent decline from the $230 high to $213 low. However, the price struggled to clear the $220 resistance area. Moreover, there is a key bearish trend line forming with resistance near $220 on the 4-hours chart of the BCH/USD pair.
At the moment, the price is declining and is approaching the $212 and $210 levels. The main supports on the downside are near the $205 and $200 levels. If there is a downside break below the $200 support, there could be a sharp decline in the coming days. The next key support is near the $188 and $185 levels. Conversely, the price could recover above the trend line and $220.
The next hurdle is near the $222 level. Additionally, the 50% Fib retracement level of the recent decline from the $230 high to $213 low is near the $222 level to prevent an upward move. If there is a clear break above the trend line, $222, and $225, the price might retest $230. If there is a successful break above $230, the price could move into a positive zone.

Looking at the chart, bitcoin cash price is clearly under a lot of pressure below $225 and $230. Therefore, there is a risk of a downside break below the $205 and $200 supports.
Technical indicators
4 hours MACD – The MACD for BCH/USD is currently gaining momentum in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is currently declining towards the 30 level.
Key Support Levels – $205 and $200.
Key Resistance Levels – $225 and $230.
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8Pay Sponsors DeFi Project of the Year 2019 Award at Europe’s Largest Blockchain Conference

Coinspeaker 8Pay Sponsors DeFi Project of the Year 2019 Award at Europe’s Largest Blockchain Conference8Pay, an automated payment solution built on the Ethereum network, will sponsor the DeFi Project of the Year Award at the forthcoming Malta AI & Blockchain Summit.Europe’s largest blockchain conference will host creative minds from the industry and recognise the year’s milestones and achievements on 7 November at Malta’s Intercontinental Hotel. As well as luminaries from the world of blockchain, the biennial event will bring together figures from sectors such as robotics, Internet of Things (IoT) and artificial intelligence, with a busy programme of conferences, workshops and networking events also taking place over two days.Co-founder and CEO of 8Pay, Benedetto Salanitro, explained his happiness at sponsoring the DeFi Project of the Year Award, saying, “Decentralized finance is an incredibly worthy attempt to build a new and innovative financial system that works for everyone, with a high degree of transparency. Each of the projects shortlisted for the award has made great strides in realizing this goal, and we’re delighted that 8Pay can sponsor it. From P2P lending protocols to emerging decentralized banks, the space is thriving – and this is only the beginning.”Decentralized finance (defi), built around smart contracts and crypto protocols that provide open access to financial products, has evolved into a burgeoning industry. The award at the Malta AI & Blockchain Summit will be handed to the defi project that’s provided the greatest contribution to simplifying the money-sending process. The 2019 nominees are Sologenic, Simply VC and MakerDAO, all of which have been busy leveraging decentralized networks to transform old financial products into trustless, transparent protocols.Ventures that fall under the decentralized or open finance umbrella aim to create a new financial system based on public ledgers that is globally accessible and transparent. Defi projects focus span such verticals as derivatives, insurance, lending, prediction markets and other offshoots of the finance sector. Novel new products are already starting to ship, with the collective goal of overhauling traditional financial services and bypassing much of the banking sector, with its gatekeepers and intermediaries.8Pay is a decentralized payment solution that facilitates automated crypto payments. Underpinned by smart contracts architecture, 8Pay enables stablecoins and all the ERC-20 tokens to be used in everyday life to pay for goods and services.8Pay Sponsors DeFi Project of the Year 2019 Award at Europe’s Largest Blockchain Conference

Commissions FREE Trading/Lending P2P on StiB’s Smart Contracts

Coinspeaker Commissions FREE Trading/Lending P2P on StiB’s Smart ContractsOur mission at StiB is mass adoption of Cryptos. In this second decade of Cryptos, we understand that it is about time for the mainstream to catch on. We develop Smart Contracts to solve the problems of centralized exchanges by combining solutions of decentralized and non-custodial exchanges to gradually moving towards complete decentralization of Peer to Peer (P2P) for either Cryptos-Fiats or Cryptos-Cryptos conversions.In order to achieve and accomplish our goals, we develop the best runway for Cryptos to take off, we provide hybrid solutions by borrowing features of CeX and implement on DeX while eliminating the disadvantages with innovative applications built on top of our ecosystem from StiB P2P, StiB Pay to StiB DeX plus AI Chat/Support to assist everyone anytime/anywhere.We did not forget to design a better and fair distribution model of profits through our StiB Reserves to all the users who can invest or stake their token holdings. We design an ecosystem for the community, controlled and staked by the community through StiB tokens.A great time for Cryptos’ mass adoption in this second decadeWe have a great business model for mainstream adoptionNow it’s time to raise funds and scale the ecosystem as well as expand our team!We have an amazing team working around the clock 24/7 with creative ideas building innovative applications to decentralize everything financial with everyone in mind.Why Trade/Lend with StiB’s Smart Contracts?Simple, beautiful and easy to use plus much more: – Protect traders/users with StiB Legals comprised of local lawyers internationally – Commissions Free P2P Trading/Lending – Human Supports with AI assists – Zero downtime with Clouds failover & IPFS/Swarm as backups – End to End Encryptions with the best Security – Available in 200+ countries with 10 most popular languages – Responsive Webs + Mobiles apps (iOS & Android) – Trade risks free confidently from your own wallets to/from StiB’s Smart Contracts and/or to other peers with insured Escrow and Collaterals – 3 in 1 with ENS: your own Vanity Wallet, Personal Smart Contract and Domain (e.g: ben.StiBp2p.eth <-> 0x0dda5b6bbf013c554c68cbc7abb678d53edbede7)StiB tokens will prevent pump-and-dump schemeInstant settlements through StiB Reserves whether it is fiats-cryptos or Cryptos-Cryptos with quick Buy/Sell and Lend/BorrowWe focus on building the best runway for Cryptos to take off with our mission of mass adoption in the next decade. We are giving away billions of dollars in fees plus we pay back to our communities as well as pay forward to support future developments and spur innovations of the Blockchain.StiB P2PNow available for download on Google Play store: keyword “StiBp2p” iOS is coming, pending Apple’s approval so if you’d like to try it out we can certainly invite to TestFlight!StiB tokens (sti)You can invest now with Private Sales starting Oct the 15th $1M: $10k-$100k at 50% off the price of IEO/IDO at $0.005/sti $480k: $250-$9,999 at 40% off accepting ETH and BTCStiB CharityThe goal is to build a self-sufficient and self-sustainable model that is easily replicated globally to fight Hunger and Poverty.We’re hiring: we are based out of Saigon and Boston and we’re actively seeking for talents around the world. If you think you can contribute to our team and our mission please write a cover letter with your attached Resume/CV to support AT StiB.co for consideration!Connect with UsWebsites: StiB.co and StiB.eth on ENSFacebook/Twitter: @StiBLabsYoutube, Telegram: @StiBenglish for English & @StiBvietnam for VietnameseStiB’s logan “We decentralize with everyone in mind!”Commissions FREE Trading/Lending P2P on StiB’s Smart Contracts

Is the Nash Exchange Invulnerable to Cyberattacks?

Is it possible to create a cryptocurrency exchange that is in no way vulnerable to hackers? According to the creators of Nash, that’s exactly what’s been done.
Nash: A New Kind of Trading Platform?
New technology has emerged that makes bitcoin more programmable. Thus, traders do not need to hand over control of their assets until the final moments of a transaction. Nash, a new cryptocurrency trading platform, is utilizing this technology to ensure all its customers’ financial data and digital assets remain completely safe.
Cryptocurrency exchange hacks have become a serious problem for the industry over the years. Perhaps the two biggest ones that come to mind are Mt. Gox, which occurred in February 2014, and Coincheck, which took place in January of 2018 (four years later). The former saw nearly half-a-billion USD-worth of BTC funds disappear in short of an hour, while Coincheck saw even more money vanish. Overall, it’s estimated that the amount of money lost from these exchanges – when combined – are more than $1 billion USD.
In addition, other hacks have occurred along the lines that have not necessarily been as big, but still make a dent in how the industry is perceived. Binance – the world’s largest and most popular cryptocurrency exchange across the globe – was the victim of a hack that saw more than $40 million USD in BTC disappear earlier in the year. While Binance commented that it had the reserves necessary to account for the losses, the maneuver still “hurt.”
No doubt, every cryptocurrency exchange is hit hard when a cyberattack takes place, no matter the size of the theft. With Nash, however, executives are looking to ensure customers never have to hand their funds over to a third party.
In addition, the company is using what it’s calling a system of “state channel smart contracts” that are utilized across the NEO and ETH blockchains. These ultimately make it so that customers never have to deposit their funds into the exchange itself, which is what makes the money vulnerable to hackers.
These state channel contracts allow specific parties to transact with each other without ever “setting foot” on the blockchain itself. The sender and the receiver place money into a multi-sig address and then verify what funds belong to who.
Security Is Number One
Nash co-founder Fabio Canesin explains:
We initially demonstrated that our proposed architecture could deliver cross-chain markets that compete with the performance of centralized exchanges – an extremely important parameter for liquidity. For this reason, we focused on the NEO-ETH market. Now that this is live and functioning well, we can move onto other networks. Bitcoin is the obvious next candidate owing to its importance in our industry.
Other companies looking to integrate this same technology include Spark Swap, the Lightning Network and Arwen.
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Bank of America Tests Ripple’s DLT but Has No Plans to Use XRP Yet

Coinspeaker Bank of America Tests Ripple’s DLT but Has No Plans to Use XRP YetBank of America, one of the most prominent banks in the United States, has taken a bold step by adopting Blockchain technology after testing out Ripple’s Distributed Ledger Technology (DLT) in its banking system and appears to be ready to go a bit further with the implementation of the technology.Bank of America’s commitment to Ripple might just stir the storm for other banks too. This development of the course has been in process for a long while and is by no means sudden. Last year in November, we reported that rumors were circulating of a mutual agreement between Ripple and Bank of America. Recent developments have, however, confirmed that Bank of America might be the latest big fish to join the list of banks using Ripple’s flagship product.Ripple’s xRapid product has been created solely for financial institutions to reduce liquidity and introduce ease into cross border payments. As of the time of writing, Ripple now has more than 200 financial institutions as customers. With banks such as Euro Exim Bank and TAS group—which is the first to publicly adopt Ripple’s payment system as of 2013—on their list as well.Bank of America’s interest or partnership is not as explicit yet, however, but it is now apparent that there is more to the story than hushed rumors.‘B of A,’ the Customer Behind the ScenesRipple spokesperson would not announce explicitly that Bank of America is now the latest institution using Ripple’s choice product, but they did give enough clue. After Ripple claimed a certain B of A as a ‘customer’ during a seminar presentation as earlier reported last year, Ripple’s spokesperson today refused to confirm whether Bank of America was in partnership with Ripple.Instead, they had this to say:“Bank of America has been part of Ripple’s Global Payment Steering Group since 2016, and we did a pilot with them.”The admission is no secret, but it is becoming clear that Bank of America is more than an adviser on Steering Group and could be on the verge of officially using one of Ripple’s flagship products, xCurrent.Understandably, Bank of America would be silent about its involvement with Ripple’s products, given its history of hard stance on blockchain-related services. What’s more? Bank of America’s job posting in search of a “Ripple project product manager” is undoubtedly the best indicator of the bank’s new ambitions.As of the time of writing, xCurrent looks to be the only Ripple product known to have been tested by Bank of America. However, current does not include XRP which is used in another Ripple’s product called xRapid.Bank of America Tests Ripple’s DLT but Has No Plans to Use XRP Yet

Warren Davidson to Facebook: Say Yes to BTC, Not Libra

It seems like some members of Congress still have no love for Libra. In fact, a few are even advising Facebook to adopt bitcoin and avoid the Libra project altogether. Among the people suggesting this is U.S. Congressman Warren Davidson of Ohio.
Davidson to Facebook: Forget About Libra
Davidson says he was first introduced to bitcoin back in 2013. He acknowledges that while bitcoin isn’t necessarily perfect, it is a decentralized system that gives its users freedom in how they conduct transactions. Libra, on the other hand, will be a centralized and regulated system that could get in the way of people’s liberties.
Davidson admits that he’s always had a love of digital payment systems. Even before bitcoin came along, he was a huge fan of platforms like DigiCash, and says that electronic payments are likely to bring a whole new wave of financial products to people who otherwise would never have access to standard banking.
At the same time, DigiCash and platforms like it consistently aroused controversy whenever money from countries like China was moved into the U.S., or vice versa. In a recent interview, he states:
What really goes on in the back end there sometimes is governments are taking their time to validate everything, make sure they know it’s you, [and asking]: Why is this money moving? Who’s moving it? Are we okay with this? Should we process this request, or should we follow it? Should we report it? All kinds of things.
Libra, sadly, has experienced its fair share of hate and distrust since it was first announced earlier in the year. While Facebook’s intentions may be pure of heart, many people aren’t seeing things that way. The company was at the center of a monster-sized scandal in 2018 when it was discovered that for many years, Facebook had been selling users’ private data for advertising purposes. Trust in Facebook ultimately fell to record lows, and the company was forced to pay massive fines.
The idea of such a company entering the financial fray and getting its fingers on customers’ private monetary data is downright scary to some. A recent survey shows that trust in Libra is extremely weak, with less than three percent of potential Facebook users saying they would even consider using it.
Too Many Losses as of Late
Davidson said in the interview that Libra would likely be registered as a security given that a group known as the “Libra Association” would be in control of it. At the time of writing, however, there doesn’t appear to be much of an association left considering how many potential players – from PayPal to Uber to Mastercard – have packed up their bags and left, seeking out other opportunities.
Despite this, Libra is telling all its “enthusiasts” that a 2020 launch date is still set.
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Meet Matic Network – The Most Talked About ETH Scaling Solution

Coinspeaker Meet Matic Network – The Most Talked About ETH Scaling SolutionWith a young and digital-savvy population, it’s no surprise that India established itself as a technology powerhouse more than a decade ago. Many multinational corporations took advantage of salary arbitrage to outsource or offshore their IT operations, leading to an explosion in India’s digital economy. As of 2018, the Indian tech industry was worth $181 billion.However, in the blockchain space, things look somewhat different. The US is home to Coinbase, Switzerland can boast of the Ethereum Foundation, Singapore has the Litecoin Foundation, and China has NEO. But so far, although there is a blockchain scene in India, it’s failed to take hold in the same way as some of the more cryptocurrency-friendly jurisdictions.Perhaps the government reluctance to embrace cryptocurrencies explains why only 0.25 percent of Indian programmers are familiar with blockchain technology. While this could be lamentable, a more optimistic view of the situation could see it as a massive opportunity for the global blockchain sector. It’s a vast programmer talent pool, just waiting to be tapped.So, perhaps the establishment of a big-name blockchain company in India could be just the catalyst needed to inspire local programmers to make the shift. Currently, Mumbai-based Matic Network is making waves in the blockchain space. Now, it could prove to be the flagship project that kicks off a new era for the blockchain sector in India.Why all the excitement? Because Matic has taken the Ethereum smart contract platform and put it on steroids. What’s more, its success in doing so is capturing the attention of some of the biggest names in the space.Ethereum – Bigger, Better, FasterScalability issues have long haunted Ethereum, which five years after launching, is still trudging along at 10-20 transactions per second. To get an idea of how significant this scalability challenge is, consider that two years ago, the entire network nearly ground to a halt due to the traffic of a single application. At the recent Ethereum DevCon held in Osaka, developers confirmed it could be up to two years before the long-awaited Eth 2.0 achieves scalability.Despite these issues, Ethereum still has one of the biggest user bases and developer communities of any other blockchain project out there. So, rather than building an entirely new platform from scratch, Matic has taken a more pragmatic approach.Leveraging their extensive experience in a scaling solution known as  Plasma, the team has implemented a second layer on top of the Ethereum blockchain. It can handle up to 65,000 transactions per second, with all the decentralization benefits of the Ethereum network.Building on the existing platform means that Matic’s solution will appeal to the established Ethereum community, giving them access to a ready-made base of supporters.Finding Strength in PartnershipsThe word “partnership” has become almost problematic in the blockchain space. Historically, marketers have had the propensity to overuse the term to describe any loose collaboration. For example, in 2017, Internet-of-Things-meets-blockchain project IOTA had to confess that it didn’t have the partnership with Microsoft that it had previously announced.So, it’s refreshing when a project comes along that can demonstrate real, meaningful partnerships on development activities that enable both parties to become greater than the sum of their parts.Two of the biggest backers of Matic also happen to be two of the biggest names in the sector. Binance is the biggest crypto exchange in the world, and last year, it branched out into running token offerings on behalf of startups. Matic ran a successful token sale with Binance in April of this year, attracting investment from Coinbase Ventures shortly afterward.The partnership with Binance has now expanded into working with the exchange giant on the integration of Binance chain to the Matic Network.Interoperability – The Future of BlockchainThere’s plenty more. Blockchain platform Harmony, which also ran a token sale with Binance, has also teamed up with Matic. Harmony released a blog post explaining how its open infrastructure will benefit from Matic’s off-chain processing capability, enabling even faster transaction speeds.Similarly, Matic has also established a research partnership with another blockchain project called Elrond, aimed at improving blockchain interoperability. Matic is particularly interested in Elrond’s consensus method, while Elrond stands to learn more from Matic about the potential for enhanced scalability.These partnerships are the kind that is much-needed in the blockchain space overall. Until now, blockchains have tended to exist in isolation, so interoperability between different platforms is an ongoing challenge. The only way to solve it is through collaboration, enabling blockchain platforms to work together in a meshed ecosystem, free of Chinese walls.This strong ethos of partnerships could also help Matic to accelerate the development of the blockchain space on its home soil. If up-and-coming programmers see what the team is doing, and how they’re gaining credibility across the sector, it may empower them to make their own foray into the blockchain space. Given that India is already a behemoth in the broader technology sector, it isn’t a huge leap to make.With the backing of Coinbase and Binance, it shouldn’t be a surprise that Matic is proving itself as one of the hottest projects of 2019. On the strength of its platform and substantial portfolio of collaborative partners, it looks set to continue soaring into 2020 and beyond.Meet Matic Network – The Most Talked About ETH Scaling Solution

Strategies for AOFEX Digital Currency Financial Derivative NSO

Coinspeaker Strategies for AOFEX Digital Currency Financial Derivative NSOInformation determines decision-making, but details determine success or failure. That’s the main principle that should be applied to trading and in this article, we will explain to you how it works.JEX was recently acquired by Binance. After Binance’s announcement, JEX’s token rose and fell sharply in just a few days. JEX should be one of the most professional trading platforms for blockchain derivatives and the world’s first digital currency exchange for option trading which was noticed by Binance.One of the details here is that after Binance’s announcement, a lot of people didn’t respond immediately and were out from making informed decisions. On the contrary, many people stopped trading due to the fear as it was something new for them. The details of the transfer need not be explained. ERC-2O must be faster than OMNI. There is no doubt that retail investors who can finally get a skyrocketing are those who make decisions quickly and pay attention to details. How do People Make Decisions?First, it comes information acquisition and decision-making. In fact, while investing and considering future trends, everyone always has his own knowledge, such as K-line. Different people can have different results. The policy really matters. Such moves and initiatives as Bakkt, ETF, trade war can be used to evaluate factors. Another aspect is self-interest, such as LTC ‘s halving market in recent years, BTC‘s halving next year; and the last one is circulation anomalies, such as a large inflow or outflow on an address. All of these can be used to make trend judgments. This information is relatively objective and universally applicable. After making a trend judgment based on these, the function of NSO (Non-Standardized Option) offered by AOFEX, for example, can be utilized. How to make good use of NSO to maximize the function of AI prediction? There are the following options:The first one is hedging. In general, you combine your own judgments with NSO AI to make a trend judgment that you think is more likely. When considering risk issues, it is suggested to operate on spot according to the trend of the high possibility of self-selection and hedging operation on NSO. For example, after analysis, you think that BTC is bullish, and then find that the return rate of NSO AI is also low, which means that AI is also bullish. So you can buy BTC in the spot, and in order to hedge the risk, you can buy a higher yield on NSO to hedge. In case of the spot falls, NSO earnings can make up for the loss on the spot. In this case, the investment proportion on NSO needs to be considered by yourself and you need to choose the range that you can bear. For example, if you think that it will rise by 5 points, you only need to invest no more than 5% of the spot principal in NSO. In this situation, do what you can. You also should pay attention to the time difference. The NSO you buy now generally corresponds to the next time period. For example, one-day NSO you buy today corresponds to the trend of tomorrow, and your spot operation should be corresponding. Please pay attention to this detail. The next one is Grid, which can be regarded as a trend guide, helps to judge the trend according to NSO AI judgment, and designs grid trading interval and grid numbers on this basis. And the third option is Short-term trading. For short-term trading, the requirements are higher and the difficulty is higher than in the case with regular futures trading. At this time, most of it depends on the trader’s judgment on the trend. If the trend is right, the return is high, but always high-risk high return. It is recommended to use a longer interval when the market is volatile. Short intervals can be selected when the market is clear. DetailsFirst is time selection. Anyone who knows NSO should be aware that there are five different delivery times for NSO: 5 minutes, 15 minutes, 30 minutes, 1 hour, and 1 day. We find that NSO delivery time is very short, one day is the longest period, but other regular options are one week long. Second is delivery time and trading sessions. The rules of buying are as follows: for example, in the 5-minute NSO, the current 10:00-10:05 session is in progress, and the delivery countdown has two minutes and five seconds left. So what you are buying now is 10:05-10:10 session, that is, the next session, and the purchase time is one minute, three and five seconds left. In addition, when there are 30 seconds left in the delivery countdown, the next purchase countdown will be zero, which means that only the third session you can buy, that is 10:10-10:15. Finally, the information determines decision-making, and details determine success or failure. To do these two things well, success will naturally improve a lot. Making good use of information and tools can help you make relatively correct judgments. Finally, we should remind nothing can help you make a 100% correct judgment! It’s always you who make judgments and bear the consequences through the offered tools can help you a lot.Strategies for AOFEX Digital Currency Financial Derivative NSO

Bitcoin Moves Above the $8,100 Mark Again

At press time, bitcoin – the number one cryptocurrency by market cap – is back above the $8,000 mark following a nasty scare yesterday that saw it fall into the $7,000 range once again.
Bitcoin Is Moving Up Again
Many analysts immediately took to social media and other platforms to explain the reasoning behind bitcoin’s sudden, if short-lived, demise. Jeff Dorman, chief investment officer of the asset management firm Arca, explained:
The move lower is less about the magnitude and more about the correlation and direction. We’re hearing that the broad-based selling is being driven more by market makers and those that are short pushing the market lower, rather than driven by long unwinds or selling. With volumes still quite low relative to this summer, shorts are incentivized to keep pushing prices lower until they hit resistance.
Some believe that the price decline occurred for technical reasons. Joe DiPasquale, CEO of the cryptocurrency hedge fund Bit Bull Capital, says that the industry is still suffering heavily from the recent rejection of the Bitwise bitcoin exchange-traded fund (ETF). For the most part, this was the final proposal in play, and now that it’s been turned down, many enthusiasts and analysts believe it will take time for the crypto space to get back on its feet.
He explains:
We believe the current bitcoin price action is technical in nature. The price broke down from a descending triangle last month and has since continued to test the key support at $7,750. There was some relief ahead of the Bitwise ETF decision last week, but the [Securities and Exchange Commission] SEC’s rejection cut the surge short, which, accompanied by declining volumes, has brought BTC back to the pre-ETF anticipation, consolidation range. We expect bears to once again try and break the $7,750 support, which in the absence of market catalysts, has the potential to clear the way for a drop to $6,000.
People Aren’t Buying Enough
Jon Pearlstone, who publishes the cryptocurrency newsletter Crypto Patterns, says that bitcoin’s price is likely down because people aren’t buying enough. Some of the hype and hoopla surrounding BTC has ultimately waned, and people are concentrating more on selling than purchasing new units. He explains:
Bitcoin has been in a consolidation pattern around $8,000 since late September when price broke key support at $9,500. There was no buying follow through last week when price spiked above $8,500 and that usually leads to a retest of the bottom of the consolidation pattern (around $7,700) which is what looks like is happening now. Volume is higher, but there are no signs of a real breakdown yet. If we see continued selling, the target for the current bearish pattern is the $6,500 range and if current support holds, the bulls next target is a retest of the breakdown at $9,500.
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