Day: November 3, 2020

Bitcoin Hash Ribbons Trigger Rare Bull Market Capitulation Signal

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An important fundamental health signal of the Bitcoin network just crossed into “capitulation” territory, which in the past was associated with downside risk. However, the tool’s creator says that it wasn’t designed to give sell signals, and shouldn’t be interpreted that way. But because of how profitable its been used as a buy signal over the cryptocurrency’s history, it is difficult to ignore a sudden anomaly in the asset’s market cycle that has never in the past appeared. So what exactly is going on and why did this rare signal…

Bringing Cutting Edge Assets into Hands of Investors

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Registered in Switzerland and the U.S. Securities and Exchange Commission (SEC), UGPAY Group AG emphasizes a range of unique investment objectives. A rapidly evolving global financial ecosystem opens up investment opportunities in innovative industries and assets that represent new frontiers in many traditional investors minds. Precious metal investment, previously only carried out with physical bullion – can now be conducted through complex financial instruments like gold futures and gold ETFs. Precious metals (along with cryptocurrencies) are also eligible for inclusion in U.S. Individual Retirement Accounts (IRAs). Building a diamond synthesis…

Corporate giants may not follow MicroStrategy’s Bitcoin adoption play, Raoul Pal explains

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Earlier this year, business intelligence giant MicroStrategy put $425 million of its treasury funds into Bitcoin (BTC). The move was largely seen as a big step in the right direction for mainstream Bitcoin adoption. MicroStrategy, with its CEO and founder Michael Saylor — a Bitcoin skeptic-turned bull — may not usher in massive corporate adoption for crypto’s pioneering asset, however, according to former hedge funder Raoul Pal.  “I don’t think Michael is going to drive corporate adoption in the space because he’s really speaking the language of Bitcoin and not…

Bitcoin Pre and Post Election Analysis

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In the growing excitement and panic in the market over the U.S. Presidential elections, commodities and safe-haven assets Gold and Bitcoin are showing signs of recovery after the Monday crash. Early this morning Bitcoin put the first step towards an engulfing bullish move after testing the lower threshold of an ascending channel and received a pretty well support from EMA50. Bitcoin price on Overbit Bitcoin is healthier when whales withdraw their funds from exchanges. In the past 14 hours almost 17 329 BTC were withdrawn from Huobi, 5 of them…

Bitcoin Bounces $500 Off Monday Lows Despite Election Uncertainty

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Bitcoin has undergone a strong bounce since the Monday lows of $13,200, set in a rapid crash lower that liquidated millions. The price of the leading cryptocurrency currently is $13,750, up over $500 from the aforementioned lows. On the day, Bitcoin is up 1.5%, outpacing a majority of altcoins including Ethereum but somewhat underperforming the stock market. This rally in the Bitcoin price comes as the U.S. dollar has continued its descent. The Dollar Index (DXY) has dropped 0.75% in the past day as the market seems to be pricing…

Dow Jones Climbs 1.6% as Election Day Dawns on Americans

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While the Americans are voting for their President, major stock indices are climbing higher. The Dow Jones Industrial Average (INDEXDJX: .DJI) is up 1.6% as election day dawns on Americans. The Dow added about 423 points to close at 26,925.05 on Monday, November 2. Some stocks are showing bullish retracements from the October dip, owing to sell-off fears stirred by new COVID-19 cases. The S&P 500 Index (INDEXSP: .INX) surged 1.23% to 3,310.24 while the Nasdaq Composite (INDEXNASDAQ: .IXIC) advanced by 46.02 points or 0.42% to close at 10,957.61. The…

Bitcoin whales tread water and hodl despite recent BTC price drop

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The price of Bitcoin (BTC) is experiencing a volatile time. After achieving $14,100 for the first time since 2017, a sharp pullback followed. Yet, key on-chain data and whale clusters show that high-net-worth individual investors are holding onto their positions. This trend shows that whales are not expecting a major pullback in the near term. A low level of activity from whales is a positive metric following a large uptrend. It shows that whales are not interested in selling BTC just yet and are likely anticipating a broader rally. In…

Bitcoin Surges to Key Resistance as Analysts Eye a Move to $16,200

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Bitcoin’s price has been consolidating below its crucial $13,800 resistance over the past week, but bulls are once again in the process of testing this level The upcoming election results are widely thought to be a force that could contribute to some BTC volatility This possibility is vindicated by the massive inflows of high-leverage orders from traders on margin trading platforms These positions being stopped out or liquidated could help fuel a large move in the near-term One analyst is noting that a firm break and hold above $13,769 would…

Ripple, PayPal and Twitter Join Forces to Ensure Fair Elections in U.S.

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Their Civic Alliance positions itself as a “non-partisan group of businesses working together to build a future where everyone participates in shaping the country”. The U.S. is holding the presidential election today, and this year, the process is especially hot and loud. To ensure that the election is fair and unbiased, more than 993 companies have joined forces and created a non-partisan group called Civic Alliance. The members include blockchain company Ripple, online payments giant PayPal Holdings Inc (NYSE: PYPL), and social media platform Twitter Inc (NYSE: TWTR). We believe…