With Facebook and Netflix Involved, Are We Heading Into a New Era of Crypto Space?

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With Facebook and Netflix Involved, Are We Heading Into a New Era of Crypto Space?
With institutions now firmly in on the game, crypto is entering a new era. This is great news for retail investors, as many of funds, derivatives, and other financial instruments are also open to individuals now.
With Facebook and Netflix Involved, Are We Heading Into a New Era of Crypto Space?

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Source: CoinSpeaker

Fidelity International Exploring Blockchain by Cryptocurrency Testing

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Fidelity International Exploring Blockchain by Cryptocurrency Testing
Both the European and Asia branches of Fidelity International are exploring the perception of customers towards cryptocurrencies via a newly launched trading simulator specifically designed for digital assets.
Fidelity International Exploring Blockchain by Cryptocurrency Testing

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Source: CoinSpeaker

CME Group Altering Its Reference Rate for Ether Meaning They Might Be Getting Ready for Futures

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CME Group Altering Its Reference Rate for Ether Meaning They Might Be Getting Ready for Futures
CME Group allegedly decided to make changes to its reference rate and index tied to Ethereum. Their sources say it could mean a future tied to the crypto is coming to its marketplace.
CME Group Altering Its Reference Rate for Ether Meaning They Might Be Getting Ready for Futures

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Source: CoinSpeaker

Could Coinbase’s Brusque Market Disruption Be the Reason for Bitcoin’s Sudden Price Dip?

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Could Coinbase’s Brusque Market Disruption Be the Reason for Bitcoin’s Sudden Price Dip?
Coinbase, a cryptocurrency exchange recording over $1 million Bitcoin trading volume, experienced a few minutes site crash. Bitcoin price concurrently plunges afterward within a period of 24 hours.
Could Coinbase’s Brusque Market Disruption Be the Reason for Bitcoin’s Sudden Price Dip?

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Source: CoinSpeaker

CFTC Lets LedgerX Settle Futures in Actual Bitcoin

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CFTC Lets LedgerX Settle Futures in Actual Bitcoin
The Commodity Futures Trading Commission (CFTC) cleared Bitcoin derivatives provider LedgerX to offer physically settled BTC futures contracts to institutional and retail customers.
CFTC Lets LedgerX Settle Futures in Actual Bitcoin

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Source: CoinSpeaker

‘Bitcoin Big Short’: Is Increasing Shorts on BTC Futures at CME a Bullish Signal?

Bitcoin rose from trading around $4000 in March 2019 to nearing $12000; a 3x Rise in less than 90 days. While the speculation of a bubble is behind us, a growth of this proportion for an investment asset is highly unstable. Reportedly, Hedge funds and big traders are betting short on Bitcoin Futures market.
The reports from the futures market can be a reliable source to understand the market statistics given the large volume of trading on CME.
According to a report from the CFTC, last week the bears held 14% more short position than the bulls. The media reported,
“Other reportables” — a loose category of firms that don’t necessarily manage money for outside investors — held more than three times as many short positions in bitcoin futures as long ones”
It can be a response in the apprehension of a significant pullback. Since its upward momentum began in May at around $5000, Bitcoin has had only one weekly withdrawal. Most of the other times it has broken through resistance, consolidated for a while and then another leg up.
Moreover, even the short orders could have been placed as a hedge against Bitcoin custody. An entity going long on Bitcoin with a tremendous amount of buy orders could look to hedge part of their investment by shorting it on futures Exchanges.  This is highly bullish given Bitcoin [BTC] is an entirely new and uncorrelated asset.
Small volume traders are reportedly long on the asset. It is like a contradiction between the two sides. While the likelihood of either of it happening can be put to a long debate. Because while the rise could be categorized as unstainable, it could trigger another short squeeze. Harry Hey from Binary Financial tweeted,
Bitcoin about to break $12,000 $BTC – short squeeze is on the way 😎
BTCJUNE Futures/USD Daily Chart on CME (TradingView)
Bitcoin has been gaining at a rate of $500 daily in the week. Large definite gaps in the futures market are massive; this is usually brought due to weekend trading of the asset. Moreover, the bullish move has also been outstanding.
The CME Bitcoin Futures June contract price touched a high of $12145. The June contracts will expire by the end of this week on 28th June 2019. Interestingly, the Jule contracts are available at a price above $12,300 at press time.
Bitcoin Futures Contact Price Table at CME (Source)
Hence, while the market is split and not many analysis techniques apply to Bitcoin at this moment, caution must be exhibited. Even if Bitcoin is going for the moon, massive pullbacks will be part of the run. It should not worry ‘Hodlers,’ who have significantly larger price targets. However, day traders and altcoins traders might be currently in the dark.
Where do you think the price is headed next? Please share your views with us. 
The post ‘Bitcoin Big Short’: Is Increasing Shorts on BTC Futures at CME a Bullish Signal? appeared first on Coingape.
Source: CoinGape

Belated ICE-backed Bakkt Bitcoin Futures Beta-Testing Launches in Less than a Month

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Belated ICE-backed Bakkt Bitcoin Futures Beta-Testing Launches in Less than a Month
As ICE Futures Exchange opens its Bitcoin Futures interest, CME concurrently soars in what appears to be a four day all-time high in a row.
Belated ICE-backed Bakkt Bitcoin Futures Beta-Testing Launches in Less than a Month

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Source: CoinSpeaker

Bakkt Brings on ex. Google Consultant as it Builds Its Mobile App Bakkt Pay

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Bakkt Brings on ex. Google Consultant as it Builds Its Mobile App Bakkt Pay
Bakkt hired a former Google consultant to help broaden its brand and assist with the roll-out of a new app. Bakkt Pay could be released in the next couple of months and will presumably enable instantly converting from cryptocurrencies to fiat.
Bakkt Brings on ex. Google Consultant as it Builds Its Mobile App Bakkt Pay

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Source: CoinSpeaker

Bitcoin Price Could Hit $62K This October, Says Analyst

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Bitcoin Price Could Hit $62K This October, Says Analyst
Here’s how the analysts are predicting higher targets for Bitcoin price based on the strengthening technical charts, growing fundamentals, and higher institutional participation.
Bitcoin Price Could Hit $62K This October, Says Analyst

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Source: CoinSpeaker

Crypto-Market Update: Bitcoin [BTC] Tests $8300 As Alts ETH, BCH Break Resistance, BNB new ATH

Bitcoin made a significant move above $8000 late on 12th June 2019. The total market capitalization of Bitcoin [BTC] which broke below $150 billion, is currently testing resistance at $8300. Nevertheless, the break above $8000 also instilled renewed confidence among the bulls.
The price of Bitcoin [BTC] at 5: 00 hours UTC on 14th May 2019 is. It is trading higher on a daily scale.
BTC/USD 4-Hour Chart on Coinbase (TradingView)
Litecoin [LTC], Bitcoin Cash [BCH] and Ethereum [ETH]
The rise in Litecoin [LTC] was the highlight of the cryptocurrency markets this week as the speculation around it began with less than 60 days to halving.
Litecoin [LTC] recorded a new yearly high at $145. The rise was witnessed in the past week as Litecoin broke above $100 and continued gaining with massive momentum. The price has corrected to $test $130 levels for the past two days.
LTC/USD 4-Hour Chart on Coinbase (TradingView)
Interestingly, while most altcoins traded slightly in the red on a daily scale, Bitcoin [BTC] and its two most popular forks showed positive volatility. BCH gained 4.5% late on 13th June to record a weekly high at $425. However, it plummeted in the following trading sessions; the price of BCH at 5: 00 hours UTC on 14th June 2019 is.
BCH/USD 4-Hour Chart on Coinbase (TradingView)
Ethereum also broke bullish above $260; the instantaneous rise was influenced by a hike in Bitcoin [BTC]. However, it too corrected as ETH/BTC traded 3% lower on a daily scale. Furthermore, a slight momentum shift towards Bitcoin from altcoins was also visible in the markets.
Binance [BNB] Coin New All-Time High
Binance reached a new All-Time High as the Exchange backed cryptocurrency has been making huge strides since the beginning of the year near about $6. The price breached the 35 dollar mark to record a near 500% rise since the beginning of the year.
BNB/USD 1-Day Chart on TradingView
Binance has become one of the largest brands of the cryptocurrency markets with CEO, CZ, leading the foundation to new heights. The cryptocurrency which is backed by the Exchange, has subsequently benefited from the growth of the Exchange as well.
Most of the other altcoins including XRP, EOS, Stellar and Tron also traded in the red. It was mostly influenced by Bitcoin’s bullish momentum and the rising uncertainty about the future of cryptocurrencies with Facebook’s cryptocurrency announcement on the horizon.
Nevertheless, Bitcoin Futures market has been flourishing as well in 2019, with CME and BitMEX logging record volumes. The much anticipated Bakkt Launch is also due in a couple of months, which is expected to revive investors spirits.
Do you think that Bitcoin’sDominance will increase significantly? Will the bull action continue? Please share your views with us. 
The post Crypto-Market Update: Bitcoin [BTC] Tests $8300 As Alts ETH, BCH Break Resistance, BNB new ATH appeared first on Coingape.
Source: CoinGape

Bitcoin Futures Will No Longer Be Traded On CBOE

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Bitcoin Futures Will No Longer Be Traded On CBOE
CBOE stops trading Bitcoin futures starting from June 19, while CME has recently enjoyed a record high volume of 33,700 contracts for cryptocurrency derivatives.
Bitcoin Futures Will No Longer Be Traded On CBOE

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Source: CoinSpeaker

Analyst Suggest that Bitcoin [BTC] Might be Heading into a Turbulent Weekend

Traditionally, the markets and even banking institutions all over the world have timings which record the opening and closing price of an asset. The asset may be a currency, commodity or equity. The timings wary all around the world but they are all recorded with a certain level of accustomization at the moment.
On the other hand, Bitcoin [BTC] and cryptocurrency markets run 24/7 and the price fluctuations can happen anytime. This discrepancy has created two huge gaps in the Futures contract on Bitcoin [BTC] from the closing on Friday to the opening on Monday.
BTC/USD 1-Day Chart on CME Futures (Gaps on Weekends)
According to a recent estimation by Bitwise, the market share of the futures contract is considerable compared to the actual volume on spot exchanges like Binance and Bitstamp. The Bitcoin [BTC] Futures contract expired for the month of May on 31st. The new contracts will be traded on Monday.
Moreover, Mati Greenspan, the Senior Market Analyst at eToro noted this fact in a recent blog post. He said,
“The CME bitcoin futures contract for May is set to expire at 4:00 PM in London today and, with more than $8 billion worth of volume traded so far, it’s going to be the biggest one ever… Traders on the CME could be hedging their positions with real BTC holdings elsewhere.”
Furthermore, he also mentioned that although the contracts expire today, the final settlements will be made on Monday. Since the final cash settlements will occur on Monday, currently at the expiration the short positions are transferred to the long holders. On Monday, the traders will choose to either opt for a cash settlement or to continue their contracts.
The weekend hence provides an opportunity for futures contracts holders to gain advantage from the price action during the weekend. Nevertheless, the price was fixed today. Mati Greenspan noted about what could affect the price during this weekend.
What could affect the price though are hedge positions. Traders on the CME could be hedging their positions with real BTC holdings elsewhere.
Hence, the weekend could go on a quiet roll. However, the time-frame presented to the futures traders calls for significant price movement.
Do you think this will be an exciting weekend for Bitcoin or it will go quiet? Please share your views with us. 
The post Analyst Suggest that Bitcoin [BTC] Might be Heading into a Turbulent Weekend appeared first on Coingape.
Source: CoinGape

Bitcoin Daily CBOE Futures Chart Has “Gaps Galore,” When Will They Fill?

Throughout the highly-publicized Bitcoin rally of spring 2019, there’s been much talk about “gaps” in Bitcoin price charts being filled, or being left unfilled – which often manifests as a target in the future price action. A powerful correction a couple weeks back such a gap was filled with a violent selloff that took advantage of Bitstamp order books being empty. Since then, more traders and analysts are keen to the fact that these gaps often get filled, and have started searching for more gaps in hopes of determining future price targets.
Just days ago, one analyst discovered two unfilled gaps above $10,000 that could provide clues to where Bitcoin is headed next. However, another analyst claims there are two unfilled gaps on CBOE Futures charts, and it’s not a matter of “if”, but “when” they get filled. The two gaps also could hint at where Bitcoin may find support during a correction, as the two gaps are currently below current levels.
Gaps Are All the Rage in Crypto Market Analysis
Two large price gaps have been left unfilled on CBOE Futures charts for Bitcoin contracts – one at $6,500 and another between $8,000 and $8,500. These two gaps are the result of powerful upward movements during hours trading was offline at CBOE.

$BTC Daily CBOE Futures Chart.
Gaps galore!! These will get filled at some point. The question is whether they fill sooner rather than later. #BTC pic.twitter.com/fPDMb0jeRB
— CryptoFibonacci (@CryptoFib) May 29, 2019

Oftentimes, these gaps get “filled” later on during trading sessions, sometimes days, to weeks, even years later. Two other “gaps” – both higher targets than current price levels, were left on CME Futures charts well over a year ago, before the bear market really got started, and could help crypto analysts predict the Bitcoin rally top.
Related Reading | Cameron Winklevoss on Crypto: Not Investing In the “Future of Money” is “Crazy” 
In financial markets,”filling the gap” is a process in which an asset returns to previous price levels where a void in a chart has formed, due to the price of the asset rapid growing or falling while trading sessions are offline. When trading resumes, the price of the asset is far lower or higher than it was at close, leaving an unfilled gap.

$BTC CME gaps yet to be filled;
– $18,500 – $17,700
Look's like we're headed back to fill those gaps! pic.twitter.com/DUiCdX23cq
— 𝓡𝓪𝓶𝓹𝓪𝓰𝓮 (@Thrillmex) May 21, 2019

Gaps are more often than not found in a speculative asset such as cryptocurrencies. The overly irrational emotions tend to drive prices higher (or lower) and faster than in other markets, creating such gaps.
Related Reading | CME Futures Gaps Hint Bitcoin Price is Headed to $18,000 Or Higher
Given the fact that Bitcoin is so far off from realizing its full potential and being used widely across the globe, the asset’s value is mostly driven by speculation at this point in its lifecycle. Due to this, the asset is a prime candidate to very often leave unfilled gaps in charts, and the volatility it provides makes revising those gaps a common occurrence.
Featured image by Shutterstock
The post Bitcoin Daily CBOE Futures Chart Has “Gaps Galore,” When Will They Fill? appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin [BTC] CME Futures Open at $500 ‘Gap’; Analyst Predicts FOMO but Bulls Intact

In March, when Bitcoin [BTC[] was trading around $4000, the associated volatility and sentiments wouldn’t have been able to fathom the rise that Bitcoin is experiencing now. It recorded yet another yearly high at $8940 following the bullish break on Sunday, 27th May 2019.
Also Read: Bitcoin [BTC] Crosses $150 Billion MCap with a Surge Past $8700
Bitcoin futures contract opened with a vast gap second time during this month. This is due to the fact this Bitcoin trading on spot Exchanges runs continuously for 365 days 24/7. However, the futures market is closed during the weekend. During this weekend, the Futures market opened with a rise of $520 or 6.39% as the market which closed at $8140 on CME, opened at $8660 on Monday.
BTC Futures/USD 1-Day Chart on CME (TradingView)
Now, the Bitcoin [BTC] futures traders must decide if they want to buy the gap or fill it. A ‘gap’ is a sudden price movement when little no trading occurs. The market opens higher or lower based on fundamental or technical analysis. While Gaps are common in the Forex market, Bitcoin [BTC] certainly stands out. Moreover, this gap can be a ‘continuation gap,’ which might continue the bull run or an ‘exhaustion gap.’
From a fundamental standpoint, the anticipated Facebook’s GlobalCoin release next year might have added the much-required creditability to the crypto-space. Facebook’s Globalcoin could attract more than 2 billion customers to the world of crypto.
Also Read: Facebook’s ‘Globalcoin’ Will Credentialize Bitcoin as a Store of Value: Mike Novogratz
Nevertheless, the parabolic rise has been unprecedented since the beginning of the month. According to Peter Brandt, a chart analyst who first called the bottom on Bitcoin suggested that the price reached the end of the parabola. He tweeted,
This is the FOMO phase of the advance. Once the majority of sold-out crypto bulls capitulate and chase this a more sizable correction will likely occur, stopping out the same bulls, who are chasing this advance.
BTC/USD 1-Day chart analysis (Source)
B.Biddles who has been extremely bullish since $5000, who also predicted the parabolic rise correctly, tweeted about the market sentiments of most traders.
“It [BTC] has to correct at some point.” No, it doesn’t. Will it? Maybe. But the way statistics works, it doesn’t *have* to. Flip a coin 100x. You can get heads every time. Your feelings otherwise are bias.
It doesn’t point at any bullish or bearish analysis but highlights a statistical and psychological fact about trading. The traders with a bearish penchant this year would have suffered huge losses hoping for a correction, while the bulls have flourished till now. Even now, Bitcoin [BTC] could further extend the rise to new all-time highs as well. The fear in bears is significantly tested as Bitcoin looks to break above $10000.
Do you think mass adoption and institutional investment is the reason behind the rise? Or Bitcoin is still rising on speculation only? Please share your views with us. 
The post Bitcoin [BTC] CME Futures Open at $500 ‘Gap’; Analyst Predicts FOMO but Bulls Intact appeared first on Coingape.
Source: CoinGape

Bitwise Report 2.0: Bitcoin [BTC] futures continues growth; volume over 50% of its Spot counterpart

Amidst the price rally fever that is gripping the Bitcoin [BTC] spot market, contractual products are continuing to surge. A new report by Bitwise Asset Management, continuing from where their March report left off, attests to the growth of the Futures market, in consequence of the April rally.
On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.
Source: Bitwise
Bitwise also contends the “critical importance,” of the “size” of the BTC futures market, as it is a key factor in the evaluation of the Bitcoin ETF, for which Bitwise is one of two key applicants.
Another key finding of the report, referencing their earlier report detailed the value of Bitcoin futures market to their spot equivalent in terms of “real volume.” The BTC futures market, in April, accounted for 48 percent of the spot market, in terms of “real” volume, and 2.43 percent when the “reported” volume was analyzed. The March report highlighted the futures market to be one-third of its “real “spot equivalent, hence there was a considerable jump to 48 percent noted.
Bitwise also tabled the BTC futures market against their spot competitors based on the individual average daily volumes [ADV] of the exchanges, for the month of April, in each category. On the basis of this assortment, the CME would take the top spot with $257.79 million ADV or 31.35 percent, followed by Binance, $217.6 million ADV or 26.46 percent and Bitfinex $78.16 million ADV or 9.5 percent. CBOE is the only other futures competitor at the 10th spot with $9.86 million ADV or 1.19 percent.

Furthermore, the report charted the “regulated” Bitcoin as a percentage of real Bitcoin spot volume on a month-on-month basis and saw a considerable spike in the past two months, as the price surged. Notably, for the first time since derivative products were launched in December 2017, the Futures market amassed over 50 percent in proportion to the spot market, in May 2018.
Back in March, when the first report was released, the Futures market was less than one-third of their competitor’s value, and grew substantially to over 45 percent in April as prices surged and Wall Street moved on their XBT. With CME, Grayscale and even the phasing-out CBOE seeing their volumes rise, the April push was compounded in May and the proportion rose above the half-way mark.
Source: Bitwise
The SEC previously mentioned that one of the key factors behind the ETF approval was the performance of the BTC Futures market and its reaction to the Spot counterpart trading. Addressing this “requirement”, Bitwise concluded:
“The bitcoin futures market would clearly not satisfy that requirement if the bitcoin spot market were really trading $11 billion per day, but our new understanding of the true size of the bitcoin spot market reshapes this discussion considerably.”
The post Bitwise Report 2.0: Bitcoin [BTC] futures continues growth; volume over 50% of its Spot counterpart appeared first on AMBCrypto.
Source: AMB Crypto