The Royal Bank of Canada to Launch Its Cryptocurrency Exchange

Coinspeaker
The Royal Bank of Canada to Launch Its Cryptocurrency Exchange
The Royal Bank of Canada (RBC), the country’s biggest bank with over $900 billion in total assets, is reportedly looking to launch its own crypto exchange.
The Royal Bank of Canada to Launch Its Cryptocurrency Exchange

Continue reading at Coinspeaker
Source: CoinSpeaker

Bitcoin Price Analysis: Why Bitcoin Bulls Are Burying Their Heads In The Sun?

Bitcoin lags triangle breakout amid widespread bull hibernation.
The short-term technical picture remains bearish for Bitcoin despite the consolidation above $8,700.

Bitcoin current trend is mundane and annoying for day traders. The consolidation comes after a bearish 24 hours where Bitcoin dived from highs above $9,000 to form a new support above $8,500. Correction to the upside is hampered at $8,800, besides the dominating moment has a bearish bias.
The four-hour chart shows the price way below the moving averages. The 50 MA is holding the ground at $9,048.92 while the 100 MA at $9,167.32. The widening gap between the moving averages signifies a stronger bearish grip likely to last through the incoming sessions on Tuesday.
The Symmetrical Triangle Pattern
Bitcoin price is trading within the confines of the apex of the symmetrical triangle pattern. A couple of scenarios are possible with the formation of such a pattern. First, a triangle resistance break could eventually place Bitcoin in a trajectory towards $10,000. The second scenario which sends jitters down my spine I jot down this analysis is that a triangle support break could sent Bitcoin down the rabbit hole to $7,200.
BTC/USD 4-hour chart
BTC/USD price chart by Tradingview
Following the false breakout over the weekend that led bulls into a bull trap at $9,200, buyers are choosing to stay in hibernation. The low trading activity is likely to last longer until the bulls are confident that a push towards $9,000 will initial the next bullish phase to $10,000.
Meanwhile, the RSI shows that Bitcoin’s recovery will take more than just the right technical levels. Bitcoin needs a catalyst to stir action and increase buyers’ confidence. For now, the best the bulls can do is to hold the price above $8,700 and fight to regain the ground above $9,000.
Bitcoin Technical Levels
Spot rate: $8,728
Relative change: +8.4
Percentage change: 0.1%
Volatility: Low
Trend: Bearish
The post Bitcoin Price Analysis: Why Bitcoin Bulls Are Burying Their Heads In The Sun? appeared first on Coingape.
Source: CoinGape

Bakkt Bitcoin Custody Warehouse Gets Ultra Secured and Available Worldwide

Coinspeaker
Bakkt Bitcoin Custody Warehouse Gets Ultra Secured and Available Worldwide
Bakkt announced that now they have all the needed papers from New York regulators to operate with institutional Bitcoin custody contracts.
Bakkt Bitcoin Custody Warehouse Gets Ultra Secured and Available Worldwide

Continue reading at Coinspeaker
Source: CoinSpeaker

XBT/USD Analysis: Why Is The Return to $8,800 Necessary for Bitcoin Margin Trading On BitMEX?

Bitcoin recovery halted above $9,000 as bears embark on exploring the rabbit hole in the $8,000’s.
A retreat to $8,400 or $8,000 (possible bottom) is necessary for gains towards $10,000.

Bitcoin refreshed the range beneath $9,000 as discussed on Friday last week. At the time I said Bitcoin had run out of options. Correction above $9,600 became a pipe dream which left the bulls demoralized. The only option was to breakdown and regroup the bulls at a lower level in order to stage another recovery assault battle.
Although $8,400 was the target last week, XBT/USD found short-term balance above $8,600. This gave way for recovery as the bulls pushed the price above $9,000. Besides, the price high levels around $9,200 (short term absolute ceiling). This left a window that is currently being explored by the bears.
XBT/USD 1-hour chart
XBT/USD price chart by Tradingview
Bitcoin price is back under $9,000 and refreshing the levels towards $8,800. It is clear that the contract is yet to find a support. The recovery over the weekend was marked with a lot of profit taking. Moreover, shorts traders have their eyes set on $8,400 and $8,000 respectively.
Meanwhile, the 50 MA on the 1-hour is proving short term support. A possible bottom is $8,800 but a drop to $8,400 could create overwhelming demand for Bitcoin. The kind that can catapult Bitcoin to levels above $10,500 reminiscent of the previous surge from $7,300 to highs above $10,500.
The Relative Strength Index is sharply falling towards oversold. However, the signal is just about to pierce through 40. A reversal is possible in the short-term. Therefore, the longs traders need to be on the lookout for a reversal of the RSI.
XBT/USD BitMEX Details
Index price: $8,880.90
24-hour volume: $2 billion
Open interest: $799 million
Funding rate: 0.01% in six hours
Contract value: $1
The post XBT/USD Analysis: Why Is The Return to $8,800 Necessary for Bitcoin Margin Trading On BitMEX? appeared first on Coingape.
Source: CoinGape

Tether Announces Support for McCormack against Craig Wright Libel Suit

Coinspeaker
Tether Announces Support for McCormack against Craig Wright Libel Suit
Tether has announced that it will fully support Peter McCormack in defending a libel suit brought by self-proclaimed Satoshi, Craig Wright.
Tether Announces Support for McCormack against Craig Wright Libel Suit

Continue reading at Coinspeaker
Source: CoinSpeaker

Coinbase Introduces Staking Rewards for Customers Holding Tezos Tokens

Coinspeaker
Coinbase Introduces Staking Rewards for Customers Holding Tezos Tokens
Coinbase projected 5% annual rewards to customers holding the Tezos cryptocurrency based on the coin’s last 90 days of staking returns.
Coinbase Introduces Staking Rewards for Customers Holding Tezos Tokens

Continue reading at Coinspeaker
Source: CoinSpeaker

Bakkt is Expected to Make a Huge Splash in November after Underperforming

Coinspeaker
Bakkt is Expected to Make a Huge Splash in November after Underperforming
Bitcoin futures platform Bakkt picks up and is expected to make a splash in the crypto space.
Bakkt is Expected to Make a Huge Splash in November after Underperforming

Continue reading at Coinspeaker
Source: CoinSpeaker

Bitcoin Price & Technical Analysis: BTC Returned to Flat

Coinspeaker
Bitcoin Price & Technical Analysis: BTC Returned to Flat
On Thursday, November 7th, the Bitcoin is slightly declining, trading around $9288.50. The leading cryptocurrency has clearly entered a flat, inside which the market will be waiting for some more or less important news and strong catalysts.
Bitcoin Price & Technical Analysis: BTC Returned to Flat

Continue reading at Coinspeaker
Source: CoinSpeaker

Price Analysis November 6: BTC, ETH, LTC, EOS, BCH

Coinspeaker
Price Analysis November 6: BTC, ETH, LTC, EOS, BCH
While Bitcoin, Bitcoin Cash and EOS are expected to show positive movements, Ethereum and Litecoin are not likely to grow from the current levels.
Price Analysis November 6: BTC, ETH, LTC, EOS, BCH

Continue reading at Coinspeaker
Source: CoinSpeaker

ARPA’s Binance Community Voting Round & Growing Momentum Following President Xi’s Comments

Coinspeaker
ARPA’s Binance Community Voting Round & Growing Momentum Following President Xi’s Comments
ARPA’s CCV is scheduled to begin on 5 November and is to incorporate Binance’s new rules for the Community Coin Voting.
ARPA’s Binance Community Voting Round & Growing Momentum Following President Xi’s Comments

Continue reading at Coinspeaker
Source: CoinSpeaker

RRMine Expressed Its Ambition to Be the Largest Cloud Hashrate Platform

Coinspeaker
RRMine Expressed Its Ambition to Be the Largest Cloud Hashrate Platform
RRMine team presented its platform at the Vegas Blockchain Week and World Crypto Conference 2019.
RRMine Expressed Its Ambition to Be the Largest Cloud Hashrate Platform

Continue reading at Coinspeaker
Source: CoinSpeaker

Bitcoin Hit $20K in 2017 from Manipulation by One Single Market Whale

Coinspeaker
Bitcoin Hit $20K in 2017 from Manipulation by One Single Market Whale
According to recent findings, the surge of Bitcoin price in 2017was a result of market manipulation from one single whale, using USDT.
Bitcoin Hit $20K in 2017 from Manipulation by One Single Market Whale

Continue reading at Coinspeaker
Source: CoinSpeaker

Craig Wright Sets Kleiman Case Back as He Declares He Can’t Pay Settlement

Coinspeaker
Craig Wright Sets Kleiman Case Back as He Declares He Can’t Pay Settlement
The Kleiman vs Wright case that has dragged for a while has now taken another step back as Wright has said he is unable to finance the settlement.
Craig Wright Sets Kleiman Case Back as He Declares He Can’t Pay Settlement

Continue reading at Coinspeaker
Source: CoinSpeaker

XBT/USD Analysis: Bitcoin Stays above $9,000 As $10,000 Becomes A Pipe Dream – BitMEX Margin Trading

Bitcoin action limited in the confines of a narrow range between $9,000 and $9,250.
Bitcoin must ground start the end-journey to $20,000 or else I will be saying hello to $6,000.

Bitcoin has less than two months to actualize the anticipated end-year rally. From my perspective, return to levels around $20,000 is not only unlikely but also a mirage. However, for Bitcoin anything is possible. For instance, last week Bitcoin zoomed to levels at $10,500 and immediately reversed to levels marginally beneath $9,000.
XBT/USD one-hour chart
XBT/USD price chart by Tradingview, BitMEX
The price action that followed failed to stir action above $9,500. Bitcoin is settling in a tight range between $9,000 and $9,250. Besides, the just concluded weekend session saw Bitcoin and other major cryptos traded with a sour tone.
Meanwhile, XBT/USD is dancing at $9,160 following a subtle 0.6% loss on the day. The upside is capped by 50 Moving Average (MA) on the four-hour chart. Also limiting movement north is the middle channel of Andrews Pitch fork. As long as Bitcoin stays below this channel barrier, key support areas will remain depressed. According to Batrachotoxin, a popular analyst on Tradingview Bitcoin more bullish than bearish. He explores a subtle rising wedge pattern on the four-hour chart:
“BTC is in the consolidation phase after a massive pump 9 days ago. While the 38.2% Fib. holds the plummets, a rising wedge is also established in the 4H timeframe. Base on modern chart pattern statistics, a rising wedge on the bullish market has 78% of a 28% advance and 95% of a 14% decline. As a result, in case of breaking out the pattern, BTC has 58% of reaching $12,100 area and it has 46% of meeting $8,100 area.”
XBT/USD Technical Levels
BitMEX Index Price: 9,148.06
24-hour volume: $1.4 billion
Open interest: $782 million
Funding rate: $0.01%
Trend: Bearish
Resistance $9,400
Support: $9,000
The post XBT/USD Analysis: Bitcoin Stays above $9,000 As $10,000 Becomes A Pipe Dream – BitMEX Margin Trading appeared first on Coingape.
Source: CoinGape