Recession Fears are Back in Full Force as 30-Year Treasury Bonds Hit a Historic Low, Is Bitcoin Really the Plan B

On August 16, the 10-year Treasury notes hit a 3-year low of 1.475% while 2-year Treasury yield was 1.467%, the lowest level since October 2017. This historic drop in the long term US bond yield comes shortly after the interest rates on 10-year and 2-year Treasuries inverted. The inversion has previously been a reliable indicator […]
Source: bitcoinexchangeguide
Recession Fears are Back in Full Force as 30-Year Treasury Bonds Hit a Historic Low, Is Bitcoin Really the Plan B

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Bitcoin Plunges Back Down to $9,600 After Rising Above $12,000

Last week, a spike in the price pushed it past the $12,000 mark.

At the same time, Bitcoin dominance continues to squeeze the rest of the market, closing in on 70%. The highest it’s been since April 2017.

Reported volume lends supports to the Bitcoin price movement. At the start of August, this stood at $16.5 billion, topping out at a month to date high of $24 billion around August, 6th.

bitcoin

Since the start of August, Bitcoin has been on a steady ascension, having peaked at a 21% gain in less than a week. Analysts have attributed this to the deterioration of US-China trade talks, which has seen a devalued Yuan, and tit-for-tat accusations of currency manipulation.

 

Bitcoin Gains From Deepening Trade War

As stock markets plunge and trade war hostilities heighten, Bitcoin is seeing a negative correlation with macroeconomic activities. But Bitcoin’s slide in performance, this past week or so has put paid to this theory.

All the same, many analysts increasingly see Bitcoin as a safe haven shelter from financial uncertainty in the broader economic sphere. On this point, Circle CEO, Jeremy Allaire, speaking on CNBC’s Squawk Box said:

“Raising nationalism, raising amounts of currency conflict, trade wars, these all are supportive of a non-soveriegn, highly secure, mechanism to store value that cna exist anywhere the internet exists.”

And it’s these very attributes that make Bitcoin attractive to investors, despite its reputation as a volatile and sometimes controversial, asset within traditional circles.

Analysis

As quickly as Bitcoin broke $12,000, a slide in price took below the $12,000 level.

Following this, support was found at around the $11,600 mark, having tested this several times on the chart. Despite that, any gains made since the 5th have been wiped out.

Support broke on Saturday the 10th, and the price has been in free-fall ever since. Today saw a reversal of the downward trend, as $9,300 becomes the new support level.

A sharp slide in the RSI saw it deep in oversold territory. But this bounced back with today’s new support level. RSI is currently hovering around 30.00.

The MACD line plunged below the nine-day EMA on the 4-hourly. Which, in line with an increasingly bearish sentiment on the MACD histogram, indicates a significant test of the new $9,300 support level.

Featured Photo by Matt Bowden on Unsplash

The post Bitcoin Plunges Back Down to $9,600 After Rising Above $12,000 appeared first on NewsBTC.


Source: newsbtc
Bitcoin Plunges Back Down to ,600 After Rising Above ,000

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Bitcoin Slides Back to Four Figures as Crypto Markets Dump $28 Billion

The big purge has begun as revisits four figures for the fourth time in as many months. The slump has resulted in a massive exodus from crypto markets which have shrunk by almost $30 billion in 24 hours.


Bitcoin Tumbles to Support

BTC has lost over a thousand dollars in the past 24 hours sliding from $10,600 to the $9,500 support level. The move has been a steady decline as opposed to the typical big red hourly candle as sell positions are triggered. It is the fourth time bitcoin has dropped to this level since the rally began in April and analysts are eyeing its next move.

bitcoin

BTC price hourly chart – Tradingview.com

Daily volume has cranked up to $20 billion but it is all outflow at the moment. The 10% purge has kept BTC within its range bound channel but further declines are expected. At the time of writing bitcoin was still falling, currently priced at 00.

Analyst and swing trader ‘Financial Survivalism’ has eyed a support level which lies in the mid-$8k range.

Bitcoin has dumped below the 200 moving average on the four hour chart which could lead to a reversal of the golden cross which occurred on this time frame last week.

Crypto trader going by the handle ‘CryptoHamster’ has also noted a fall below the 100 day moving average.

Bitcoin is below a 100 days moving average.
It is one of the biggest hope until 21EMA.

The big dump has caused a number of industry experts to question the safe haven status of bitcoin. Ikigai Asset Manager Travis Kling noted:

Lots of talk about BTC as a safe haven lately. Hasnt acted like that last few days. Why?
Could be crypto specific mkt structure issues. We see those right now.
Could also be BTC is strong enough to act as a safe haven to an extent and for certain types of stress, but not all.

Altcoins Rekt

In the time tested correlation that has failed to break this year, the altcoins are getting smashed again today. Total crypto market capitalization has crashed by 10% in an epic purge which has seen around $28 billion leave the space since this time yesterday.

Most altcoins are suffering a lot more than bitcoin at the moment. Ethereum has dumped a whopping 14% below $180 and a similar amount in a fall to $0.25. Bitcoin Cash has lost 17% as it retreats below $290 while Litecoin is melting, with a 13% crash below $75.

It is all on crypto markets this Thursday, only South Korean ICON (ICX) is in the green with a gain of 16% at the moment.

Will bitcoin fall back to $8,500 this time? Add your thoughts below.


Images via Shutterstock, Twitter @Sawcruhteez, @CryptoHamsterIO, BTC/USD charts by Tradingview

The post Bitcoin Slides Back to Four Figures as Crypto Markets Dump $28 Billion appeared first on Bitcoinist.com.


Source: bitcoinist
Bitcoin Slides Back to Four Figures as Crypto Markets Dump Billion

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Can we bring back the memes?

I am not saying all but I miss the occasional meme to make me laugh. r/cryptocurrency used to be a lot of and hype and again I am not arguing to go back to that. The recent developments like the ongoing alt slaughtering, O Leary denial could all make for some nice and entertaining posts while we wait out the bear market. I think quite some people would enjoy them far more than the recycled Tom Lee bullshit predictions. Anyone have any thoughts on this?

submitted by /u/RobertWEIJ
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Source: CryptoCurrency
Can we bring back the memes?

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XRP Whales Are Back At It, Over 400 Million Coins On The Move

This Week in Crypto: XLM now Fully Available on Coinbase, ADA Records Impressive Growth, Report Suggests That Almost 90% Of Exchange’s Volume Could Be Manipulated, XRP en route to Massive Adoption and more

The prognostications that the that govern the crypto space have returned seem to be coming to pass.

In less than 48 hours, over 100,000,000 (about $31,000,000) is known to have moved from several different Wallets!

On Wednesday, one of the best-known twitter handles that track movements of cryptocurrency tokens reported the transfer from one unknown wallet to another.

Mystery Whale or Inside Job?

Speculation has been rife in the crypto space about the identity of the parties involved in the transaction.

Some speculate that a new insider (probably a large financial institution) has decided to dip its toes in the waters of the crypto space.

Others believe that Ripple Labs Inc is transferring some of its tokens for reasons that remain best known or best believed.

Big Guns or Small Fry?

Now, in the past, similar transactions of this nature on Ripplenet have been known to come from retail over-the-counter based wallets.

However, most of the transactions have been initiated by wallets holding quite a large number of tokens.

Whale Season is in for XRP

This week has been a week for XRP Whales making the biggest splashes!

Someone exchanged 17,000,000 XRP from an unknown wallet to Gatehub exchange on Monday.

Then another person moved 300,666,888 XRP (Around $96 Million) from premier exchange Binance to an unidentified wallet.

Also, in another splash on Tuesday, someone moved 15,000,000 XRP from an Unknown wallet to Bittrex.

Who has it in for XRP? 

It seems that the Whales have decided to try and play with XRP just to test the waters on current prices.

While this may appear to be so on the surface, a quick look at the fundamentals of XRP suggest that such moves will be common soon.

Let’s face it; XRP has also gone mainstream.

Will there be more whale action? Absolutely!

It’s crypto-summer folks!

What do you think? 

Will the whales rule over XRP this summer?

The post XRP Whales Are Back At It, Over 400 Million Coins On The Move appeared first on ZyCrypto.


Source: zycrypto
XRP Whales Are Back At It, Over 400 Million Coins On The Move

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Celsius Back and Ready to Redistribute CEL Tokens After a Brief Suspension

After a month and a half-long suspension, is to full operations in the US. The global crypto lending startup has reportedly reinstated its native token, ending the long absence. Celsius Network, a platform founded on the promise of “the lowest interest rates on loans,” is intended to share as much as 80% of […]
Source: bitcoinexchangeguide
Celsius Back and Ready to Redistribute CEL Tokens After a Brief Suspension

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Is Back Pain A Drain On Your Business?

is the leading cause of disability worldwide — and it costs the American economy upwards of $100 billion per year in lost wages and productivity. Many of these problems are due to injuries in the workplace, and they are usually totally preventable. With pain being such a on our economy and businesses, why aren’t we doing more to prevent it?

 

Most people associate back injuries with warehouse jobs where people are doing the same repetitive lifting and bending tasks all day long. While this is certainly one way to injure yourself, it’s far from the only way. Sitting at a desk all day long can also take its toll on your back thanks to the pressure it puts on your lower back, improper ergonomics, and inactivity.

 

For workers in physically demanding jobs, alternating repetitive tasks with other workers, taking frequent breaks, lifting with the legs and not the back, and wearing proper safety and protective gear can make a big difference. For office workers, paying attention to ergonomics and making adjustments as needed is a great place to start. Taking frequent breaks to get up, move, and stretch can benefit both kinds of workers.

 

Personal lifestyle choices can also affect back pain. Obesity, inactivity, and stress can all exacerbate back pain. Most often when someone does sustain an injury at work they are unable to fully recover thanks to limited time off, but physical therapy and rest can be surprisingly effective at treating back injuries when given the time to work.

 

What can your business do to prevent back pain from being a drain? Often small changes can add up to a big difference in protecting employees, and they will appreciate you for the effort. Learn more about the effects of back pain on businesses and the economy from the infographic below.

Back to the Future

Back to the Future submitted by /u/untethered_cosmonaut
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Source: BTC
Back to the Future

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The ‘Vault’ Is Back: Coder Revives Plan to Shield Bitcoin Wallets from Theft

Core developer Bryan Bishop has proposed a feature to delay transfers from cold storage so users can stop thieves from draining their wallets.
Source: worldnewsoffice
The ‘Vault’ Is Back: Coder Revives Plan to Shield Bitcoin Wallets from Theft

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The ‘Vault’ Is Back: Coder Revives Plan to Shield Bitcoin Wallets from Theft

Core developer Bryan Bishop has proposed a feature to delay transfers from cold storage so users can stop thieves from draining their wallets.
Source: coindesk
The ‘Vault’ Is Back: Coder Revives Plan to Shield Bitcoin Wallets from Theft

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