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Thread: Bitcoin News

  1. #1
    Administrator wikiki's Avatar
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    Feb 2018

    Bitcoin News

    Markets Update: Volume Is Weaker as BTC Prices Push Past $10,000

    Over the past two days, BTC/USD markets dipped below the $10K price region to a low of $9,260 on February 25. The following day the price per BTC has since bounced back on Monday morning, jumping over $700 in value and touching a high of $10,400.
    Also Read: China Censors Cryptocurrency Ads on Search Engines and Social Media
    BTC Rides Back Above $10K

    BTC/USD markets were sluggish over the past weekend as the currency remained just above the $9K price zone for over two days. Prior to the dip, the price of BTC reached around $11,600 gaining momentum after the recent 65 percent ‘crash’ in value. During this afternoon’s trading sessions (eastern standard time) the price per BTC is hovering around $10,150-10,300. Trade volume is roughly around $7Bn over the past 24-hours, and the Japanese yen is dominating that number. Currently, the yen represents over 51 percent of the global BTC trades after recently dropping below 30 percent. The yen is followed by the USD (22%), tether (USDT 13%), the Korean won (5%), and the euro (4.5%). At the time of publication, the top five exchanges swapping the most BTC includes Okex, Bitfinex, Binance, Upbit, and Bitflyer. The most popular trade today on Shapeshift with BTC is litecoin (LTC) with 792.898 BTC in trade volume.
    Technical Indicators

    Looking at the chart shows BTC/USD markets had been consolidating into a triangular pattern over the past two days. Trade volume is lackluster compared to the rally that started gaining steam on February 7. The two Simple Moving Averages (SMA) both long (200 SMA) and short-term (100 SMA) are spread apart. The 200 SMA is well above the short-term 100 SMA, indicating the path to the upside will be met with resistance. The weekly Relative Strength Index (RSI) and Stochastic also indicate oversold conditions and bulls may have a hard time gaining higher ground today. MACd reveals the same thing as the indicator is headed south back to initial support.

  2. #2
    Administrator wikiki's Avatar
    Join Date
    Feb 2018
    Cryptocurrency Exchange Poloniex Has Been Bought by Circle

    Payment company Circle has announced that it has purchased Poloniex cryptocurrency exchange. Rumors of the acquisition had been circulating for weeks, and were finally confirmed today in press releases issued by both parties. Poloniex is one of the most well established cryptocurrency exchanges, but has been stagnating. It is hoped that the partnership will revitalize its fortunes while bolstering Circle’s presence in the crypto market.
    Also read: People Who Don’t Understand Cryptocurrency Should Probably Stop Writing About It
    Poloniex Goes Full Circle

    When the story of Circle purchasing Poloniex surfaced on an obscure site called Modern Consensus, it was shot down as fake news. It turns out, the story was accurate and the news was very real. “Circle and Poloniex Accelerate the Emerging Token Economy” reads the headline of the press release Circle issued on February 26 at 8am NYT. Circle is already invested in crypto via its Circle Trade app, but Poloniex connects it to a main artery at the heart of the crypto ecosystem.

  3. #3
    Junior Member
    Join Date
    Feb 2018
    Great article thanks

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