Bitcoin sale con Trump Stimulus Push

Bitcoin è di nuovo in correlazione con i mercati tradizionali

  • L’interesse per Bitcoin e Crypto dovrebbe aumentare con un pacchetto di stimoli più ampio
  • L’aumento di Bitcoin dopo i segnali positivi Trump ha girato su un accordo di stimolo suggeriscono che potrebbe comportarsi come un asset correlato in risposta alle principali notizie finanziarie
  • L’offerta di stimoli di Trump potrebbe essere maggiore del pacchetto di 2,2tr dollari di Nancy Pelosi

Bitcoin, che riflette i mercati tradizionali, è riuscito a tirarsi fuori da una spirale discendente la scorsa settimana dopo la notizia che il presidente Trump cerca di far passare un pesante pacchetto di stimoli. C’è un’offerta finita di Bitcoin Freedom contro un’ipotetica quantità infinita di dollari fisici. Questa combinazione di svilimento fiat e stimolo monetario è l’ideale per far prosperare la Bitcoin e fa prevedere agli investitori una seria crescita.

Come già riferito in precedenza, i guadagni sul mercato sono stati visti quando i colloqui sugli stimoli sono stati positivi per l’ultima volta. L’attuale Payroll Support Program termina questo mese, aggiungendovi l’urgenza di discutere un nuovo pacchetto di misure. Il crescente ottimismo intorno ai colloqui di stimolo, riferito sia dal Presidente che da Mark Meadows, capo dello staff, suggerisce che un compromesso potrebbe essere raggiunto in tempo utile. Parlando con la CNBC, Meadows ha ammesso che le discussioni sono state positive.

„Sono probabilmente più ottimista sul potenziale di un accordo nelle ultime 72 ore di quanto non lo sia stato negli ultimi 72 giorni“.

Mark Meadows, CNBC

Solo due settimane fa, Bitcoin è sceso di 200 dollari dopo che Trump ha twittato che la proposta di Pelosi era oltraggiosa, e non ci sarebbero stati colloqui per un accordo di stimolo fino a dopo le elezioni presidenziali.

Tuttavia, ora ci sono indicazioni che Trump sta spingendo per un accordo di stimolo maggiore di quello proposto dalla Presidente della Camera, Nancy Pelosi. Come ha sottolineato Bloomberg all’inizio della settimana, Steve Mnuchin, Segretario del Tesoro, ha riferito che il Presidente Trump farà personalmente pressione per il suo pacchetto di stimoli per persuadere i Repubblicani riluttanti al Senato. Jay Powell, presidente della Federal Reserve, era fiducioso:

„Sembra esserci un appetito da parte di tutti gli attori interessati a fare qualcosa, la domanda è quanto e quando“.

-Jay Powell, presidente della Federal Reserve

Un affare da 1,8 milioni di dollari è già sul tavolo dell’amministrazione. Superare la proposta di risposta al virus da 2,2 trili di dollari di Pelosi sarebbe una seria sfida politica per il Presidente, ma un aumento del pacchetto attuale potrebbe aumentare i guadagni di Bitcoin.

Groups of Bitcoin whales indicate the critical levels that BTC must maintain to recover

The whale groups show three critical levels of support that Bitcoin must defend to achieve greater recovery in the short term.

The Bitcoin Whale Groups (BTC) are pointing to three critical price levels to maintain a bullish market structure in the short term.

These groups are formed when large investors buy Bitcoin and do not move it, making it an unspent transaction. They usually indicate where crucial support levels exist, and the logic is that BTC needs to maintain this level to see a prolonged rally.

According to Whalemap data, the three major support levels marked by the whales are $10,407, $10,570 and $10,667.

Whale movements could signal the start of a bullish Bitcoin trend

Whales, or individual investors who own large amounts of Bitcoin, often seek significant liquidity to buy or sell. This is because they deal with substantial buy or sell orders and manage this need by targeting very liquid price points.

Whale accumulation often occurs when weak hands capitulate and a retail liquidation amidst a peak of market fears usually coincides with whale purchases because there are large volumes of sales to absorb.

In the last five days, there were many reasons and unexpected events that could have pushed retail investors to sell.

On October 1st, the US Futures and Commodities Trading Commission (CFTC) accused BitMEX of violating the Bank Secrecy Act. Almost immediately thereafter, BTC collapsed by 4.1%.

Then on October 2, US President Donald Trump tested positive for COVID-19. The president’s unexpected contraction of COVID-19 temporarily shook the financial markets and added some selling pressure on Bitcoin.

The two events caused fears in the crypto market to intensify and the price of Bitcoin fell from $10,900 to $10,500.

Over the next few days, the price recovered to $10,670 and this new resistance was matched by the whale groups that formed on October 2.

Two technical factors could further boost the BTC rise

In addition to whale activity, there are two technical catalysts that could boost sentiment around BTC.

First, Bitcoin’s futures funding rate on the major exchanges is negative or neutral. When a funding rate is low, it means that most traders on futures exchanges are betting against BTC.

A prolonged period of negative rates increases the likelihood of a small contraction, which could cause BTC to rise. A trader known as „Byzantine General“ said:

„We are approaching Monday and the funding has become more negative. Especially Binance where most of the fish are.

In addition, since the CFTC charge against Bitcoin, market data provider Glassnode reports that investors took out 45,000 BTCs from BitMEX. The holdings were mainly moved to Gemini and Binance, two of the major cryptomoney exchanges.

Many industry experts predicted regulatory action against BitMEX, and the resulting Bitcoin exit is not very surprising.

It could be argued that the exit of BitMEX funds to two more reliable exchanges could benefit overall market sentiment. Particularly since Gemini is considered to be one of the strongest exchanges in the field of crypto-currency in terms of regulatory compliance.

Swipe’s Double Hollow (SXP) Could Cause Further Rise

The SXP price completed a double dip near $ 1.05.

It could have started a bullish impulse.

There is resistance at $ 2.61

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Swipe (SXP) has created a bullish reversal pattern and is showing signs that it may move up soon.

The price of the SXP has been declining since August 13, when it peaked at $ 5.15. The decline continued to a low of $ 1.04 on September 24. The latter was right on the 0.85 fibonacci level of the retracement, or $ 1.20. Since then, the price has returned to this level and is on the rise.

On October 7, the price fell back to $ 1.07, creating a double dip pattern, before starting the current upward movement.

Cryptocurrency trader @devchart shared an SXP chart showing the double dip pattern. Since his tweet, the price has confirmed this pattern and has started to rise.

Daily data technical indicators are bullish. The Bitcoin Superstar is on the rise, although it has yet to reach positive territory. The RSI generated bullish divergences and the Stochastic Oscillator formed a bullish cross.

Additionally, while the slope is unclear due to many long wicks, it looks like price has breached a descending resistance line.

All of these signs indicate that the SXP should go up

In this case, the next closest resistance zone should be at $ 2.61, which is the 0.382 fibonacci level of the entire decline, as well as an old support zone. The next area of ​​resistance is found at $ 3.58.

Looking at the movement of the SXP since July shows a full bullish impulse, followed by a correction in WXY (in black below). The sub-wave count is shown in blue.

If the count is correct, the aforementioned low of September 24, which corresponds to the 1st part of the double-dip pattern, thus marked the end of the corrective movement, and the start of a new upward movement.

Further observation reveals a possibly finalized 1-2 wave formation. Waves 3-4-5 are expected to follow which may take price to the aforementioned resistance at $ 2.61 and beyond.

A decline below the low to $ 1.06 on October 7 would reject this account of waves.

“Ethereum 2.0 will not allow mass adoption”: Radix determined to win the DeFi battle

Creating a platform that can democratize access to decentralized finance is not easy. Between scalability issues, securing decentralized applications, faulty interoperability and attraction of a fickle developer community. The issues are multiple and often conflicting.

The Bitcoin Loophole has decided to take the situation in hand, and proposes the induction of an entire ecosystem, promising to solve one by one the difficulties inherent in DeFi.

27,000 people have already expressed their interest in acquiring Radix tokens. The sale is officially launched since yesterday, 6 p.m. UTC.

This sponsored content is brought to you in collaboration with Radix.

DeFi and its issues

While most projects related to decentralized finance have lived a real nightmare at the beginning of the month. The tumultuous past of the cryptocurrency market proves just how resilient the industry is. It only takes a spark to revive an entire ecosystem. Will Radix be the instigator?

While version 2.0 of Ethereum is still pending, the speculative madness that accompanied the DeFi movement has highlighted the limits of Vitalik Buterin’s protocol . After hitting transaction fee peaks of around $ 100, Ethereum is clearly not ready to accommodate a substantial windfall of users.

According to the Radix team , the “sharding” solution that will be introduced through Ethereum 2.0 is insufficient to meet the needs of DeFi.

“This solution does not allow mass adoption. It quite simply destroys the composability of applications, a crucial issue in decentralized finance ”

In order to democratize access to DeFi, the Radix team raises several priority areas of work:

Optimal security. Decentralized finance must allow its users an optimal guarantee as to the security of their liquidity. They cannot be subjected to the lack of vigilance of the developers.

Fast and inexpensive transactions. Transaction fees exceeding 30 euros must be a thing of the past. An effective solution must be implemented to avoid network congestion, and make mass adoption possible.
Optimal scalability and composability. DeFi applications must be able to work together. “Sharding” technology should therefore be avoided, on pain of compromising composability.

Better incentive systems for developers. DeFi cannot be limited to large projects. Independent developers must be able to find their place there. The incentive system needs to be redesigned in order to attract new development actors.

A solution called Radix

After 7 years of research , the Radix team offers a combination of technologies aimed at solving the problems mentioned above.

The heart of the project is based on the “Consensus Layer” called “Cerberus” . The concept of “linear scalability” is the key word behind this innovation. It makes it possible to scale a public registry across several thousand nodes, which can accommodate an infinite number of users. Whereas the “sharding” solution which will emerge within Ethereum 2.0 implies for the Radix team: “a lack of connivance between the different shards “ . The integration of a “cross-shard Atomic composability” technology will allow dApps frictionless interoperability.