Is $100 Million Newly Printed in Tether Moving Bitcoin [BTC] Price? – CTO Paolo Ardiono Clarifies

Tether has been under spotlight again since the past few weeks for manipulation in Bitcoin prices as the supply of Tether keeps on increasing. This has been primarily due to that Tether is used to manipulate the price of Bitcoin, and real transactions are going on at the . Paolo Ardiono, […]
Source: bitcoinwarrior
Is 0 Million Newly Printed in Tether Moving Bitcoin [BTC] Price? – CTO Paolo Ardiono Clarifies

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How Cryptocurrency Fits into the Currency War Signaled by Donald Trump?

The trade deficit and debt in the United States have created an apprehensive atmosphere in the currency markets. Donald who has a strong advocate of weakening the dollar in order to compete with countries was evident in a tweet, China and Europe playing currency manipulation and pumping money […]
: bitcoinwarrior
How Cryptocurrency Fits into the Currency War Signaled by Donald Trump?

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New research takes a deep dive into popular cryptocurrency exchanges to check for illegitimate trading volume

The market and , in particular, have been mired in several controversies mainly because of manipulation and tampering. In a research by Alameda, exchanges assessed based on several criteria aimed to classify legitimate information. The first method was to manually investigate the trading history of the website and see […]
Source: bitcoinwarrior
New research takes a deep dive into popular cryptocurrency exchanges to check for illegitimate trading volume

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Bitcoin (BTC) In A Pole Position To Soar After Trump’s Recent Remarks

  • Bitcoin (BTC) bulls are firm, adds 4.2 percent
  • Slashing rates and weakening the USD is for BTC

Because of Trump’s pressure on the Federal Reserve, the central bank could end up cutting interest rates. According to Pompliano, such a lax monetary could see capital flow to Bitcoin. In turn that will lift prices toward $100,000 by 2021.

Bitcoin Price Analysis

Fundamentals

There is a direct correlation between Bitcoin price expansion and global economic turmoil. A slip in the latter causes a sporadic rise in the other, and there is evidence.

With different jurisdictions applying different monetary policies fitting for the stability of their economy and fiat currencies, President Trump is concerned about the US position when it comes to protecting the greenback.

While the USD is a reserve currency influenced mostly by supply-demand forces, he claims otherwise for the Euro and the Chinese Yuan.

In a tweet, he calls for the US to “match the currency manipulation game”:

“China and Europe playing big currency manipulation game and money into their system in order to compete with the USA. We MATCH, or being the dummies who sit back and politely watch as other countries to their games – as they have for many years.”

No doubt, should there be punitive tariffs imposed on the EU while the Federal Reserve slash fund rates, Bitcoin stands to gain as a safe haven. If anything, that would be the perfect primer for a bullish run that could see the asset blast to $100,000 by 2021 as per Pompliano projection:

“In August of last year, I predicted Bitcoin would go to $3,000 before returning to $10,000. It essentially did that […] now I think it’s going to $100,000, but […] there will be more : there will be parabolic runs like we saw in June and then there will be 20-30 percent drawdowns from that.”

Candlestick Arrangement

Bitcoin BTC

At the time of writing, BTC is down 9.2 percent from last week’s close. However, gains in the 24 hours are modest to say the least. Building on the double bar bull pattern from the middle Band (BB), bulls have a chance.

Although a conservative approach will be to initiate long positions once prices rally above $14,000, aggressive traders can buy the dips. All this is thanks to yesterday’s upswing confirming bulls of July 1st and 2nd.

Unless otherwise there is a counter candlestick wiping out gains of July 3, buyers are in pole position to build on April through to June momentum.

Technical Indicators

Even if June 27 candlestick is visible, June 26 bull bar leads this trade plan. Any form of price volatility forcing BTC prices above $14,000 and June 26 high must be with high trade volumes exceeding 82k. Similarly, a counter candlestick wiping out gains of July 3 as BTC crumble below $9,500 must ideally be with high participation.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

The post Bitcoin (BTC) In A Pole Position To Soar After Trump’s Recent Remarks appeared first on NewsBTC.


Source: newsbtc
Bitcoin (BTC) In A Pole Position To Soar After Trump’s Recent Remarks

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Six Years After First Bitcoin ETF Filing, How Close are We For One?

It seems inevitable that two of the financial world’s hottest trends would cross roads with each other. For bitcoin and investors looking to benefit from the growing popularity of exchange- funds (ETF), the possibility of a derivative that tracks the of cryptocurrencies is the chance for connecting the two worlds.

But the which holds power to a bitcoin-based ETF is uncertain about its real-world prospects. The Securities and Exchange Commission (SEC), the US securities regulator, is hesitant to allow a nascent and mostly unregulated market such as the bitcoin to participate in a thoroughly regulated ETF space. The core reason is bitcoin’s wild price swings, which, as SEC explained, is reflective of broader price manipulation and fraud cases across the cryptocurrency spot market.

Bitcoin ETF Future’s Bleak

The SEC has turned down a total of nine Bitcoin ETF proposals in the six years. The first applicant was the Winklevoss Bitcoin Trust, a trust backed by the founders of Gemini cryptocurrency exchange, Tyler and Cameron Winklevoss.  Other applicants that got in the way of the SEC’s rejection spree include ProShares, Direxion, and GraniteShares.

At the same time, the applicants that passed through the SEC’s early stages but stuck in a long-pending process later include Bitwise and VanEck/SolidX.

The likelihood of receiving a green signal for a Bitcoin ETF has gone further down in June, according to Jeff Dorman of Arca, a US-based asset management firm. The chief investment officer said in a research note that because of the cryptocurrency’s 50 percent surge and 20 percent downside correction in June would make it difficult for the commission to approve an ETF.

“It’s almost a slam dunk now that an ETF won’t be approved any time soon, as an 81% 14-day levered rally, most of which occurred after U.S. trading hours, is not exactly the formula for successful SEC approval,” he wrote.

bitcoin, bitcoin price, btc usd

Bitcoin has Recovered by More than 275% Since Its Bounce Back from the $3,120 Level | Image Credits: TradingView.com

Ray of Hope

The comments nevertheless appeared at a time when the bitcoin market seems more confident about an ETF approval. In late June, the SEC opened a commenting period on an ETF proposal filed by Wilshire Phoenix Fund. The New -based asset management firm has proposed to offer shares to a combined ETF backed by both bitcoin and treasury bills.

In response, the SEC allowed the listing on the NYSE Arca Exchange following a rule-change proposal, pending the 21 day comment period. The suggestion read:

“The Exchange proposes (1) to amend NYSE Arca Rule 8.201-E (Commodity-Based Trust Shares) to provide for issuance and redemption of such securities for the underlying commodity and/or cash, and (2) to list and trade the shares of the United States Bitcoin and Treasury Investment Trust NYSE Arca Rule 8.201-E, as proposed to be amended.”

The approval for the Wilshire’s ETF proposal is still months away. In the meantime, the probability of SEC to approve a bitcoin ETF looks bleak, at least in 2019.

The post Six Years After First Bitcoin ETF Filing, How Close are We For One? appeared first on NewsBTC.


Source: newsbtc
Six Years After First Bitcoin ETF Filing, How Close are We For One?

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Bitcoin Is Nightmare For Banks Laundering $2 Trillion Every Year

bitcoin against money laundering

One of the big attractions to Bitcoin is its ability to bypass the banking system. The likes of doom monger, Nouriel Roubini, still bash BTC in favor of a largely unprincipled banking system where the top get richer at the expense of the bottom. Banks are far from infallible by nature, and the of recent reports on money laundering scandals is on the increase.


Banks Fear Accountability

$2 trillion (over ten times the total capitalization of Bitcoin) is laundered by banks every year and fear it because a similar public ledger would make them accountable. This was noted by Bitcoin and cryptocurrency enthusiast Rhythmtrader in the below tweet:

Dollar Weakening Good For Bitcoin

As millions of Americans celebrate the fourth of July, US president Trump has shown no signs of abating his economic war on the rest of the world. The latest in the Trump twitter tirade has called for mass money manipulation to match what he sees other nations already doing.

In the eyes of the POTUS, China and Europe are pumping money into their systems in order to compete with the US. In his view, the US should ‘compete’ by doing exactly the same which would effectively devalue the dollar.

Crypto trader Alex Krüger noted that these actions would also increase interest rates and cause stock markets to .

“China and Europe playing big currency manipulation game and pumping money into their system in order to compete with USA. We should MATCH, or continue being the dummies who sit back and politely watch as other countries continue to their games – as they have for many years!”

A weaker dollar would be bullish for Bitcoin as investors seek a safer offshore store of value.

Fundstrat’s Tom Lee also noted the need for Trump to crank stock markets higher, which would also be support for equities.

BTC Against Money Laundering & Manipulation

Bitcoin has been on fire in recent months, which has also correlated with a falling dollar and an escalating trade war between the US and China. Gold has also reached a six-year high as it too is viewed as a reliable store of wealth away from fiat which is easily manipulated by governments and their rogue leaders.

A public blockchain based banking system would unveil countless shady transactions that are clearly still going on. In a world dominated by banking scandals, money manipulation, and trade wars, Bitcoin is looking like the better bet.

Do you think Bitcoin is an effective against currency manipulation and money laundering? Comment below. 


Images courtesy of Shutterstock, Twitter: @Rhythmtrader, @krugermacro, @fundstrat

The post Bitcoin Is Nightmare For Banks Laundering $2 Trillion Every Year appeared first on Bitcoinist.com.


Source: bitcoinist
Bitcoin Is Nightmare For Banks Laundering Trillion Every Year

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Buy Bitcoin? Trump Says US 'Should Match' China’s Money Printing Game

Belligerent manipulation from Trump bolsters the argument for as a haven asset


Source: cointelegraph
Buy Bitcoin? Trump Says US ‘Should Match’ China’s Money Printing Game

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Volume manipulation found; Coinbase leading exchange ranking: Cryptocompare report

Trading research Cryptocompare has just released it’ Cryptocurrency Exchange Benchmarking 2019 that allows users to look past the obvious and have a better understanding of the exchanges. The report deals with an important issue in the cryptocurrency , i.e., the misleading reported by the cryptocurrency exchanges in order to inflate . The report […]
Source: bitcoinwarrior
Volume manipulation found; Coinbase leading exchange ranking: Cryptocompare report

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SEC Chairman Other Market Protections Needed Before Bitcoin ETF Approval

n Custody and market manipulation to be dealt with before a ETF can be approved, said SEC Chairman Jay Claytonn
Source: cryptscout
SEC Chairman Other Market Protections Needed Before Bitcoin ETF Approval

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Bitcoin (BTC) Price Plunge Being Tied to Market Manipulation

The plunge in price for bitcoin, which took the below $8000 for the first time in , is tied to the actions of a seller.

The sudden price fall for bitcoin came at a time when the currency appeared to be building
Source: bitrss
Bitcoin (BTC) Price Plunge Being Tied to Market Manipulation

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