Lots of Crypto-Related Positive News From Institutions (Weekly Digest, Oct 15—19)

Pantera Capital CEO thinks that Bitcoin ETF is years away, Tether and Bitfinex finally find a new bank, HTC releases its blockchain smartphone next week — in this weekly news digest

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Crypto Market Cap And Bitcoin Under Pressure: BCH, BNB, EOS, TRX Analysis

The total crypto market cap is struggling to recover above the $235.0B resistance area. Bitcoin price is now trading well below the $9,000 and $8,960 resistance levels. EOS price is declining and it seems like it could revisit the $3.350 support area. Binance Coin (BNB) is still facing a lot of hurdles near the $21.00 and $21.20 levels. BCH price is approaching the main $285 and $280 support levels. Tron (TRX) price is correcting lower and it is now trading below the $0.0200 support. The crypto market cap and bitcoin (BTC) are currently under pressure. Ethereum (ETH), binance coin (BNB), ripple, BCH, tron (TRX), litecoin and EOS might decline further. Bitcoin Cash Price Analysis In the past few hours, there was a fresh downward move below the $295 level in BCH price against the US Dollar. The BCH/USD pair is now approaching the main $285 and $280 support levels. If there is a downside break below the $280 support, the price could extend its decline towards $265. On the upside, an initial resistance is near the $295 level. However, the main resistance is near the $300 and $305 levels, above which the price is likely to rally. Binance Coin (BNB), EOS, Tron (TRX) Price Analysis EOS price started a downward move after it failed to break the $3.650 and $3.700 resistance levels. The price is no trading below the $3.500 level and it seems like it could revisit the $3.350 support area. On the upside, an initial resistance is near the $3.550 level, followed by $3.650. Tron price is now trading below the $0.0200 support area. TRX price tested the $0.0190 level and it is currently consolidating in a range. On the upside, the price must climb above $0.0198 and $0.0200 to start a fresh increase. If not, it could test the $0.0185 support area. Binance coin (BNB) found support near the $19.50 level and it recently climbed back above the $20.00 and $20.20 resistance levels. BNB price is now trading above $20.50, but it is facing a strong resistance near the $21.00 and $21.20 levels. Crypto Market Cap Looking at the total cryptocurrency market cap 4-hours chart, there was a fresh decline from the $241.0B high. However, the market cap is still holding the key $226.0B and $225.0B support levels. If there is a downside break, the market cap could decline towards the next support near the $217.0B level. Conversely, the crypto market cap needs to surpass the $235.0B and $240.0B resistance levels. A successful close above the $240.0B resistance might start a decent upward move in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX in the near term. Crypto Market Cap And Bitcoin Under Pressure: BCH, BNB, EOS, TRX Analysis was last modified: November 13th, 2019 by Aayush JindalThe post Crypto Market Cap And Bitcoin Under Pressure: BCH, BNB, EOS, TRX Analysis appeared first on NewsBTC.
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Mystery Donor Sends 50 Bitcoin to the Grin Developers

Cryptocurrency donations can change the life of an individual or project in quick succession. For the Grin team, the recently received a 50 BTC donation shows plenty of people firmly believe in this project. It is not the first time the Grin team receives an anonymous donation.  Grin Receives Major Financial Support Not everyone can contribute to a project through coding, thus throwing them some financial support can go a very long way. To date, it remains unclear who is behind the donation. Some people working on Grin have an idea of who it is, but they are disclosing the identity for privacy reasons.  In the attached message, the donor indicates how they want the team to spend the funds as they see fit. It is merely a “token of appreciation” for all of the hard work put into this project to date. Grin is a project that is very different from most traditional cryptocurrencies. One could even argue it is more of a technological extension rather than an economic project. For a cryptocurrency project, funding is crucial. Most projects would either run out of money or go through some dubious tactics to ensure there is always some money in the bank, so to speak. This 50 BTC donation gives the Grin team economic freedom as they can build their vision for this technology accordingly.  One interesting sentence related to the donation has sparked a few debates. The donor mentions how “it feels like 2009/2010 all over again”. That sentence indicates this is either a very early Bitcoin adopter or perhaps someone of the “inner circle” who was working together with Satoshi Nakamoto during the first months of Bitcoin being unleashed on the world.  The post Mystery Donor Sends 50 Bitcoin to the Grin Developers appeared first on NullTX.
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How Will CME Bitcoin Options Launch In 2 Months Affect BTC Prices?

Many have asserted that the first time Bitcoin futures were launched, a planned market crash followed. The exchange that launched those futures back in late 2017 is gearing up for more institutional products in two months’ time so what impact will that have this time around? CME Options Launch In January The Chicago Mercantile Exchange is expanding its institutional Bitcoin product lineup. According to a press release one of the world’s leading derivatives market places announced that, pending regulatory approval, options on its BTC futures contracts will be available for trading starting January 13, 2020 – just two months from today. CME launching $BTC options in two months https://t.co/jRfEz4Ab9j — Su Zhu (@zhusu) November 12, 2019 CME Group Global Head of Equity Index and Alternative Investment Products, Tim McCourt, stated; “Since the launch of our Bitcoin futures nearly two years ago, clients have expressed a growing interest in options as another way to hedge and trade in these markets. We have worked closely with clients and the industry to establish a robust and increasingly liquid underlying futures market here at CME Group, and we believe Bitcoin options will now offer our customers greater precision and flexibility to manage their risk.” The Bitcoin futures market has shown strong growth since it was first introduced two years ago. The average daily volume of 6,500+ contracts in 2019 is equivalent to around 32,500 BTC. According to the release almost half of the trading volume is outside the US. The primary difference between futures and options is that the contract holder is obligated to sell a futures contract on the expiry date. With options there is no obligation to sell the contract on expiry, giving greater flexibility which of course may impact market prices. Investopedia goes into more detail on the differences. Impact on Bitcoin Prices When the CME and CBOE launched Bitcoin futures contracts in December 2017, it was during the market peak. It was widely reported that the US government planned this to enable mass shorting of the asset which would burst the bubble. It was a resounding success, three months later Bitcoin had dumped 60%. According to former CFTC chairman, Christopher Giancarlo, the Trump administration had this in mind all along; “One of the untold stories of the past few years is that the CFTC, the Treasury, the SEC and the [National Economic Council] director at the time, Gary Cohn, believed that the launch of bitcoin futures would have the impact of popping the bitcoin bubble. And it worked.” This time around the scene is very different, there has been no massive crypto hysteria, the crypto scene has matured and retail and institutional investment has steadily grown. Therefore there will be no huge incentive to short Bitcoin because it is not at its peak. Options are more flexible than futures and, just as Bakkt will eventually do, it will increase liquidity for Bitcoin markets which will be bullish for long term prices. Image from Shutterstock How Will CME Bitcoin Options Launch In 2 Months Affect BTC Prices? was last modified: November 13th, 2019 by Martin YoungThe post How Will CME Bitcoin Options Launch In 2 Months Affect BTC Prices? appeared first on NewsBTC.
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