Max Boonen is the founder and CEO of crypto trading firm B2C2. This post is the third in a series of three that looks at the structure of crypto markets. Opinions expressed within are his own and do not reflect those of CoinDesk. In the two previous articles, I summarized the evolution of speed in modern finance and the balancing act between good and bad latency reductions. Let us now examine the venues where trading takes place and how they fare in this world of increasing speeds. To trade financial…
Month: January 2020
‘Nothing Special’ — Bitcoin Slumps 6% on Coronavirus, Chinese New Year
Bitcoin (BTC) has shed 6% in a week thanks mainly to Chinese New Year and uncertainty over coronavirus, commentators are suggesting. Analyzing Bitcoin price data along with Chinese stocks’ performance on Jan. 24, social media resource Light said a slump in performance had spread to cryptocurrency. Cryptocurrency market daily overview. Source: Coin360 Stocks correlation shows Bitcoin’s “global stage” Over the past several days, it notes, Bitcoin has in fact broadly correlated with stocks. Such behavior is reminiscent of what many perceived as a reaction to another global event — the…
This Eerie Fractal Shows Why Bitcoin’s Price Could Soon Crash By 20%
Over the past week, Bitcoin (BTC) has started to show signs of weakness after a 40% uptrend in a month. Since establishing a $9,200 multi-month around seven days ago, the price of the leading digital asset has plummeted by 11% to $8,200, where it trades as of the time of writing this. Although the price drop has seemingly found a local bottom, with the selling pressure abating, an eerie fractal proposed by a top Bitcoin analyst says it’s only a matter of time before BTC falls dozens of percent from…
This Eerie Fractal Shows Why Bitcoin’s Price Could Soon Crash By 20%
Over the past week, Bitcoin (BTC) has started to show signs of weakness after a 40% uptrend in a month. Since establishing a $9,200 multi-month around seven days ago, the price of the leading digital asset has plummeted by 11% to $8,200, where it trades as of the time of writing this. Although the price drop has seemingly found a local bottom, with the selling pressure abating, an eerie fractal proposed by a top Bitcoin analyst says it’s only a matter of time before BTC falls dozens of percent from…
SEC Goes Head-to-Head With Telegram, Makes a Guinea Pig of TON
Earlier this week, the Chamber of Digital Commerce went ahead and filed an amicus brief for the ongoing court hearing taking place between Telegram — one of the world’s most widely used encrypted messenger services — and the United States Securities and Exchange Commission. In its most basic sense, an amicus brief is a legal document that provides non-litigants with the right to submit their views and opinions in relation to an ongoing case for the court’s consideration. The brief was authored on behalf of the CDC by Lilya Tessler,…
Here’s Why Analysts Expect Ethereum To Surge Towards $200
Over the past week, Bitcoin, Ethereum (ETH), and other leading digital assets have finally begun to stall. The price of these assets have tanked across the board, losing over 10% since the highs put in last week. Despite this, analysts are certain that the outlook for some cryptocurrencies remains bullish. Specifically, one trader recently noted that ETH is poised to burst higher, at least from a medium-term perspective. Ethereum’s Medium-Term Trend Bullish, Analysts Assert Satoshi Flipper, a prominent cryptocurrency trader, recently noted that Ethereum’s weekly chart is showing relatively bullish…
Here’s Why Analysts Expect Ethereum To Surge Towards $200
Over the past week, Bitcoin, Ethereum (ETH), and other leading digital assets have finally begun to stall. The price of these assets have tanked across the board, losing over 10% since the highs put in last week. Despite this, analysts are certain that the outlook for some cryptocurrencies remains bullish. Specifically, one trader recently noted that ETH is poised to burst higher, at least from a medium-term perspective. Ethereum’s Medium-Term Trend Bullish, Analysts Assert Satoshi Flipper, a prominent cryptocurrency trader, recently noted that Ethereum’s weekly chart is showing relatively bullish…
Is Tron’s DApp Market Dependent on Gambling?
Tron has made a name for itself in the crypto asset space and DApp world, although a huge portion of the protocol’s transactions rely on the gambling industry. A hefty 17 of the top 25 most-used Tron DApps fall in the gambling category on DappRadar’s list of most popular Tron protocol-based DApps. Top 25 lists The eight non-gambling Tron-based DApps on the list fall in several other categories, such as High-Risk, Exchanges and a general “games” tag. These non-gambling DApps, however, host significantly less volume than their gambling counterparts, with…
ConsenSys to Build Global Trade Platform for Agribusiness Giants
Covantis, a blockchain initiative backed by global agribusiness giants like Cargill, has selected major Ethereum-focused firm ConsenSys as a technology partner. Within the partnership, ConsenSys will build an Ethereum-based blockchain platform to digitize the post-trade finance industry and bring efficiencies and cost savings to the international agribusiness supply chain, Covantis said in a Jan. 23 press release. Four agribusiness giants established the initiative in 2018, while Covantis’ name came out months ago The concept of Covantis was established in October 2018, when four of the biggest global agribusinesses companies announced…
Effect of CME Futures Options on BTC Price Depends on Halving
CME Group launched new Bitcoin options on Jan. 14, which was revealed by the company’s global head of equity products Tim McCourt. The introduction of crypto options by a derivatives heavyweight in CME will further uplift the institutional infrastructure supporting the asset class. Over the long term, investors generally anticipate improvements in the infrastructure surrounding Bitcoin (BTC) to have a positive impact on the cryptocurrency market. CME Bitcoin options is a net positive for crypto Speaking to Cointelegraph, cryptocurrency technical analyst Eric Thies said that CME options will bring in…