Bullish Sentiment Returns as Weekend Rally Adds $10 Billion to Crypto Markets

Just as things were starting to look bearish again and momentum was running thin a weekend rally has set the crypto bulls in motion once again. Positive sentiment has returned to the scene as talk of a ‘Santa rally’ gets bandied about and Bitcoin reclaims $9,000.
Crypto Bulls Back?
Following a Friday dump, Bitcoin spent most of the weekend lulling around the $8,800 level. Bearish sentiment started to creep in with analysts eyeing a further drop to $8,600 or lower. In late trading on Sunday things turned bullish as BTC powered back above $9k.
The single hourly candle tapped $9,150 on the 200 hour moving average before a slight pull back to $9,050. The 3% move has kept Bitcoin within its range bound channel again as analysts eye new triangle formations.

New triangle. $BTC #bitcoin $BTCUSD pic.twitter.com/5nLpqpkoVp
— CryptoHamster (@CryptoHamsterIO) November 11, 2019

There may be a few more days of consolidation before the apex of this triangle which is likely to induce a larger move.
Trader and analyst ‘The Cryptomist’ has depicted a falling wedge but is bearish in the longer term with a prediction of a low to $7k.
 “Mentioned warning of the falling wedge earlier. We are now testing resistance of the wedge … After this bull momentum is over, I do expect 7.1k still,”

$Btc
Mentioned warning of the falling wedge earlierWe are now testing resistance of the wedge
If we breakout here, 9.2 region remains first target, then 9.4k
Still chance of support test before breakout at 8.3k region
After this bull momentum is over, I do expect 7.1k still pic.twitter.com/RioawGMuyR
— The Cryptomist (@TheCryptomist) November 10, 2019

Industry stalwarts remain bullish however and even with short term bear attacks, BTC is set top post higher gains in the future. Morgan Creek Digital co-founder Anthony Pompliano was quick to point out Bitcoin returns this year;
“Bitcoin YTD: 145%
S&P 500 YTD: 23%
Bitcoin has returned 6x more than stocks to investors so far this year.”
Altcoins Still Moving
Altcoins are slowly strengthening also with more gains today. Since late Friday almost $10 billion has re-entered crypto markets as total cap hits $247 billion.
Total market cap 48 hours – Coinmarketcap.com
Ethereum is slowly creeping towards the $200 barrier and has gained 3% on the day to reach and hold $190. ETH market cap is back over $20 billion and further gains are looking likely as analysts remain bullish.
Ripple’s XRP token is getting left behind however and remains flat on the day just over $0.28. Last week’s Swell even did nothing for XRP prices which actually declined by almost 10%.
Bitcoin Cash is having a good run at the moment as a 4% gain takes prices to $295 while Litecoin is creeping up towards $65. Binance Coin is back over $20 again and BSV has added 3.5% to reach $135.
A couple of lower cap altcoins are having double digit gains at the moment and they include VeChain, DxChain and ODEM. In general there is much more green than red on the charts this morning as crypto assets build on last week’s gains.
Sentiment is generally bullish but the larger picture still shows consolidation from a downtrend that began in July. The question now is; will there be a big Santa rally for crypto assets.
Image from Shutterstock
The post Bullish Sentiment Returns as Weekend Rally Adds $10 Billion to Crypto Markets appeared first on NewsBTC.
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Premier African Tower Operator Helios Raises $364 Million in Low-key IPO

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Premier African Tower Operator Helios Raises $364 Million in Low-key IPO
Helios Towers Raises about $364 million in its Initial Public Offering which has been low-key due to choppy market conditions.
Premier African Tower Operator Helios Raises $364 Million in Low-key IPO

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Source: CoinSpeaker

Porsche Presents Cheaper Version of the All-Electric Taycan to Compete Tesla

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Porsche Presents Cheaper Version of the All-Electric Taycan to Compete Tesla
Porsche presented their newest car – the Taycan 4S, which is the third version of their new all-electric Taycan series.
Porsche Presents Cheaper Version of the All-Electric Taycan to Compete Tesla

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Source: CoinSpeaker

Sensor Tower Data Shows App Revenue Rose 23% YoY to $21.9B in Q3

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Sensor Tower Data Shows App Revenue Rose 23% YoY to $21.9B in Q3
The data revealed by Sensor Tower showed that the revenue of both Google Play and App Store is growing.
Sensor Tower Data Shows App Revenue Rose 23% YoY to $21.9B in Q3

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Source: CoinSpeaker

Chinese Media Expresses Caution before Phase 2 Talks in the US-China Trade Deal

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Chinese Media Expresses Caution before Phase 2 Talks in the US-China Trade Deal
After some positive developments in the phase 1 of the US-China trade deal, the U.S. stock market saw some surge.
Chinese Media Expresses Caution before Phase 2 Talks in the US-China Trade Deal

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Source: CoinSpeaker

Bitcoin Poised For Another Breakout as It Clings to Support, Which Way Next?

Bitcoin has spent the past two weeks consolidating just below the 200 day moving average. So far it has managed to cling to support above $8,000 but a big move could be coming soon so which way will it go next?
Bitcoin Trading Range Tightens
Another day has seen Bitcoin bounce between $8,300 and $8,400 as the range bound channel begins to tighten up. According to Tradingview.com BTC is currently within this range at $8,340 since the big dump on Friday.
BTC price 1 hour chart – Tradingview.com
RSI is right on 50 on the four hour chart but below it on the daily. That death cross of the 50 day MA and 200 day MA is looming ever closer and could occur in about a week, especially if the breakout is to the low side.
Trader ‘CryptoHamster’ has observed the sideways channel on the 50% Fibonacci retracement level which is also a signal of a bigger move approaching.
“$BTC will either go above the previous trading zone and 23.6% Fibo, where a lot of shorts stops are concentrated, or BTC will go below the previous trading zone and 61.8% Fibo, where a lot of the longs stops are concentrated.”

Simple:$BTC will either go above the previous trading zone and 23.6% Fibo, where a lot of shorts stops are concentrated, or BTC will go below the previous trading zone and 61.8% Fibo, where a lot of the longs stops are concentrated.Let's follow the trend.$BTCUSD #bitcoin pic.twitter.com/GB7f9kxHPv
— CryptoHamster (@CryptoHamsterIO) October 13, 2019

Stating that Bitcoin will ‘either go up or down’ is pretty obvious but where will it stop is more interesting. On the high side the 23.6% Fibo shows resistance at just below $8,600 while a drop lower to the 61.8% line takes it back to $8,200.
Below that is further support at $8k then $7.8k. At the moment BTC has corrected 40 percent from the 2019 high and is holding ground. Market dominance has failed to regain 70 percent and is currently just below it according to Tradingview.com.
Elsewhere on Crypto Markets
The majority of the altcoins are showing red this Sunday though losses are minor as they also follow big brother’s consolidation. Ethereum has weakened again in a fall back towards $180. ETH is unlikely to decouple from BTC until major network upgrades in Istanbul and early Serenity phases are rolled out in a few months’ time.
Ripple’s XRP has remained flat for the past few days but it has managed to hold on to previous gains keeping the token around $0.275. Bitcoin Cash has weakened again allowing Tether to retake fourth spot with a larger market cap and Litecoin has shown very little movement from its $55 price level.
Today’s top movers on altcoin markets are Binance Coin adding 4 percent to close in on $18, and BSV getting a 3.5 percent lift as it approaches $90. There are no coins in the top one hundred gaining double digits as Sunday trading remains lethargic.
Total crypto market capitalization hasn’t moved much this weekend and remains around $225 billion. Daily volume, according to coinmarketcap.com, has declined below $50 billion but markets are marginally higher than this time last weekend.
Image from Shutterstock
The post Bitcoin Poised For Another Breakout as It Clings to Support, Which Way Next? appeared first on NewsBTC.
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Is Microsoft (MSFT) Stock a Better Investment Choice Than FAANG?

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Is Microsoft (MSFT) Stock a Better Investment Choice Than FAANG?
Microsoft Corp. (MSFT) stock as well as a few other software firms, have been doing great and even outperformed FAANG in 2018. The trajectory has continued into 2019 and MSFT just might be taking some shine away from FAANG.
Is Microsoft (MSFT) Stock a Better Investment Choice Than FAANG?

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Source: CoinSpeaker

Saudi Aramco to Publish IPO Prospectus Before October Ends

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Saudi Aramco to Publish IPO Prospectus Before October Ends
Reportedly, Saudi Aramco is ready to release its IPO prospectus very soon. Although a final decision on its public offering has not been made, the prospectus will precede other moves by the company, up to a final decision.
Saudi Aramco to Publish IPO Prospectus Before October Ends

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Source: CoinSpeaker

Deutsche Bank Set to Axe Half of Planned 18,000 Job Cuts in Germany

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Deutsche Bank Set to Axe Half of Planned 18,000 Job Cuts in Germany
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Deutsche Bank Set to Axe Half of Planned 18,000 Job Cuts in Germany

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Source: CoinSpeaker

It’s Time for Investors to Get Picky as Jefferies Upgraded Microsoft Stock

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It’s Time for Investors to Get Picky as Jefferies Upgraded Microsoft Stock
Jefferies changed the ratings right before the earnings season. Analysts expect Microsoft’s revenues to rise 11% on a year-over-year basis to $32.2 billion.
It’s Time for Investors to Get Picky as Jefferies Upgraded Microsoft Stock

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Source: CoinSpeaker

Digital Media Company Group Nine Buys Lifestyle Publisher PopSugar

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Digital Media Company Group Nine Buys Lifestyle Publisher PopSugar
Discovery-backed Group Nine Media acquires female-focused lifestyle brand PopSugar.The all-stock acquisition will bring PopSugar into the Group Nine portfolio, which includes Thrillist, The Dodo, NowThis, Seeker and comedy studio JASH.
Digital Media Company Group Nine Buys Lifestyle Publisher PopSugar

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Source: CoinSpeaker

Insurance Technology Startup Next Insurance Bags $250M Hitting $1B Valuation

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Insurance Technology Startup Next Insurance Bags $250M Hitting $1B Valuation
Palo Alto California insurance startup for digital businesses Next Insurance raises about $250 Million in Series C funding from a single investor MunichRe. The startup is now valued at around $1 Billion.
Insurance Technology Startup Next Insurance Bags $250M Hitting $1B Valuation

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SoftBank Founder Ritesh Agarwal Investing $700M in Oyo’s New $1.5B Financing Round

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SoftBank Founder Ritesh Agarwal Investing $700M in Oyo’s New $1.5B Financing Round
India’s largest budget lodging startup Oyo Hotels and Homes said today it plans to raise about $1.5 billion as part of a new financing round as the startup looks to expand its footprints in the U.S. and Europe.
SoftBank Founder Ritesh Agarwal Investing $700M in Oyo’s New $1.5B Financing Round

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Source: CoinSpeaker

Apple Might Release Smaller and Cheaper iPhone 11 Substitute in 2020

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Apple Might Release Smaller and Cheaper iPhone 11 Substitute in 2020
A top analyst has claimed that Apple has plans to release a cheaper phone by early next year. The new release will also be smaller than, but just as powerful as the new iPhone 11.
Apple Might Release Smaller and Cheaper iPhone 11 Substitute in 2020

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Source: CoinSpeaker

Bitfinex and Tether are Expecting Another Lawsuit for Market Manipulation

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Bitfinex and Tether are Expecting Another Lawsuit for Market Manipulation
Citing the possibility of engaging in yet another legal lawsuit, Tether and Bitfinex launch a pre-emptive strike on an unknown study claiming complete innocence in the matter.
Bitfinex and Tether are Expecting Another Lawsuit for Market Manipulation

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Source: CoinSpeaker