Brandt’s Momentum Indicator Highlights Potential Bitcoin Reversal

Bitcoin’s market valuation has already made some surprising moves in 2019, outperforming both the NASDAQ Composite and S&P 500 (on a YTD basis) by a wide margin.  However, an inability to hold support at key technical regions would suggest this year’s bull trend hasn’t yet been validated. Bitcoin’s Line in the Sand Since the beginning of the year, BTC/USD has generated gains of 172%, outpacing the returns of both the NASDAQ Composite (at +16.6%) and the S&P 500 (at +13.2%) over the same period.   However, technical indicators suggest crypto investors…

Bitcoin is Not Acting Like Safe-Haven: Ikigai Founder

Bitcoin is not behaving like a safe-haven asset as fears of recession shadows over the US economy, believes Travis Kling of multi-strategy crypto asset hedge fund, Ikigai Asset Management. Bitcoin Yet to Shine The founder & CIO on Wednesday referred to bitcoin’s dwindling price action against an already gloomy macroeconomic outlook. Recognizing that investors should have perceived the cryptocurrency as a safe-haven asset by now, Kling doubted whether or not the nascent asset is ready to assume the responsibility like its established peers, including gold. “It’s like maybe BTC is…

Bitcoin Price Analysis: Bears Shake Bullish Market Sentiment

Bitcoin Price levels have dropped $2,000 within the last 48 hours as bears begin to shake the current bullish market sentiment. Continuation of the pull-back to key support around $8,800 is likely over the coming days. Bitcoin 30-Minute Price Analysis On the 30 minute chart for XBT/USD, we can see the sharp pullback that has taken place over the last 2-3 days. A clear influx of new volume has taken place throughout this pullback, initially bearish selling momentum that has now turned into a mixture of buyers and sellers. Price…

Bitcoin Wealth Centralization Is A Myth, Says VanEck Strategist

Bitcoin does not have a wealth distribution problem after all, another expert has said as the debate continues to mushroom within the industry. BTC Ownership ‘Seems Balanced’ In a tweet August 15, Gabor Gurbacs, digital asset strategist and director at investment management giant VanEck, took claims the Bitcoin supply was centralized to task.  Comments had previously appeared from sources such as Civic CEO Vinny Lingham, who raised concern at the idea that 80% of available bitcoins resided in just 2% of wallets. As Bitcoinist reported, others argued the metric held…

Coinbase Data: Bitcoin Whales Are Buying the Dip Right Now

The fear, uncertainty and doubt is palpable today on bitcoin markets. It shouldn’t be as these large swings are nothing new and will happen time and time again. Yet still the panic ensues as traders quickly liquidate positions for fears of further losses. But are the whales doing the opposite? Bitcoin Fear Index Hits 2019 Low The BTC fear index, a measure of fear and greed, has plunged to a low not seen since the depths of crypto winter in 2018. A 245 day low was hit as the index…

‘Bullish For Bitcoin’: China Bank Bailouts Spark ‘Biggest Credit Bubble In History’

Bitcoin could possible gain from economic uncertainty in China as one source describes the country’s third major bank bailout of 2019 as the world’s “biggest credit bubble.” China Bailouts: 3 Banks, $390 Billion Taking statistics from various sources, the Twitter cryptocurrency trader and commentator known as CryptoArbitrage noted that last week’s bailout of Heng Feng bank was the third involving assets over $200 billion. “Trillions tied up in state-owned banks that are loaned to state-owned enterprises. Biggest money printing in history. Biggest credit bubble in history,” they summarized. The 3rd…

Chinese Ponzi Scam Floods Exchanges And Hits Bitcoin Price

According to Primitive founder, Dovey Wan, the latest Bitcoin sell-off is down to a major Chinese ponzi scheme. Little known outside of China, PlusToken scammed over 200k BTC and 800k ETH, which are now hitting exchanges in batches. Not Another Bitcoin Ponzi Scam Started mid-2018, PlusToken was a classic Ponzi scheme offering high-yield investment return. There were four layers of membership structure, offering increasing dividends. By early 2019, it had a claimed 10 million members. Correction, this fucking scam at least scammed over 200K $BTC as I dug out my old…