The number of Bitcoin-based futures contracts can't stop growing

The number of Bitcoin-based futures contracts can't stop growing

However, it’s still not even close to the record-setting 18,000+ contracts Cboe derivatives exchange recorded on April 25, 2018

Bitcoin

BTC
Price
8,744 USD -5.52%
Volume, 24h
3,497,717,274 USD
0.00%
Marketcap
153,922,072,217 USD
56%
Emission
84%

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Bitcoin Price Analysis: BTC Showing Weakness, Struggling For $10,000. New Lows Coming Up?

Since reaching the $11K resistance area three days ago, we saw Bitcoin slowly decreasing over the past days. As of writing these lines, the crypto king struggles to maintain the 5-digit price region. As we stated in our previous analysis, the $11K was the real test for the bulls and failing to break above means one thing – the bears are in control of the market. This is exactly what had happened. Looking at the bigger picture, Bitcoin is about to breakdown the critical mid-term ascending trend-line (on the daily chart), which started forming since May 2019. As can be seen, since reaching the 2019 high at $13,880, the coin is producing lower highs pattern, which is bearish. Hence, the first test to revert the trend is the $11,000 area (as mentioned above). Remember, trading under those uncertain market conditions sometimes can be tough and frustrating. Total Market Cap: $274 billion Bitcoin Market Cap: $179 billion BTC Dominance Index: 65.1% *Data by CoinGecko Key Levels to Watch – Support/Resistance: Bitcoin is now struggling to stay on top of the $10,000 support area. Breaking down and the next immediate targets are $9,800, $9,600 and $9,400. Further below is $9,000 (which is the low from the past week), $8800 and $8500 significant support line (along with CME’s futures gap). From the bullish side, the first resistance is now the 50-days moving average line (marked in purple) which is roughly around $10,200. Further above is $10,500 – $10,600 area, before the $10,800 and the problematic $11,000 region. – Daily chart’s RSI: The RSI is showing weakness. Over the past days, the RSI couldn’t overcome the 50 levels, and as of writing this, the indicator is hovering at the bearish territory, and there is large space to go further down. The Stochastic RSI oscillator is at its oversold area, however, looking very bearish as well. – Trading Volume: Over the past four days, since reaching the $11,000 weekly peak, the volume has been boring and low. Not much interest, traders are waiting aside. Besides, the news coming from US exchanges’ investigations can explain some of it. BTC/USD BitStamp 4-Hour Chart BTC/USD BitStamp 1-Day Chart The post Bitcoin Price Analysis: BTC Showing Weakness, Struggling For $10,000. New Lows Coming Up? appeared first on CryptoPotato.
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Crypto exchange exec says Bitcoin ban in India not final yet, is there any hope?

This week, the inter-ministerial committee (IMC) of India officially recommended the imposition of what has been considered a blanket ban on crypto assets like bitcoin. According to Reuters, the panel led by finance secretary Subhash Chandra Garg has suggested a fine of $3.63 million and imprisonment for both individuals and businesses that engage in any crypto-related activity including mining, investing, transfers, and issuance. Is there any hope to bitcoin ban turnaround? The official report submitted by the IMC to the finance industry obtained by Inc42 explicitly stated that crypto-assets lack underlying intrinsic value, an argument critics have consistently brought upon to describe the speculative nature of the asset class since the inception of bitcoin in 2009. The document read: “There is no underlying intrinsic value of these private cryptocurrencies. These private cryptocurrencies lack all the attributes of a currency. There is no fixed nominal value of these private cryptocurrencies i.e. neither act as any store of value nor they are a medium of exchange. Since their inceptions, cryptocurrencies have demonstrated extreme fluctuations in their prices. Therefore, the Committee is of clear view that the private cryptocurrencies should not be allowed.” If the report is accepted by the finance ministry and the ban goes through, executives fear it would effectively put an end to the potent crypto market in India, restricting the ability of companies in dealing with crypto assets. Already, most leading crypto exchanges in India have closed operations in India and moved to other markets. Since April 2019, local reports indicated that due to regulatory uncertainty, funding for exchanges in India has started to dry up. Sathvik Vishwanath, CEO of Unocoin, told ET at the time: “We did ask people to leave last week, but our operations will continue for the foreseeable future. We have some amount of reserves to push through for the next couple of months and will wait for the Supreme Court’s verdict.” However, Nischal Shetty, the CEO of WazirX, a bitcoin exchange based in India, said that the ban on crypto has not been finalized yet and that there still is hope that the government could turn around the suggestion of the IMC. He added: “Crypto is not banned in India,” said Nischal Shetty. “Crypto Ban is a suggestion by the IMC report Section 1.1 of the report suggests the government should form a standing committee to revisit this Everyone loves talking the negatives but let’s understand this is not over yet.” Negative sentiment Upon the re-election of Prime Minister Narendra Modi in 2019, many analysts speculated that the government of India could take a tougher stance on the crypto market as the Modi administration has done throughout the past two years. Related: India Stalls Cryptocurrency Regulations, Uncertainty Continues Whether it is a blanket ban or strict restrictions, continued uncertainty in the crypto industry of India is likely to lead to a decline in confidence for investors and an impractical ecosystem for local startups. While industry executives have expressed hope in recent months, Sathvik Vishwanath, the co-founder of Unocoin, one of the biggest bitcoin exchanges in India, said that shall the ban go through as proposed by the IMC, it would result in the crypto sector of India significantly falling behind other leading markets. he said: “If the government decides to take such a drastic step then India will stand to lose out significantly on the technology front.” The post Crypto exchange exec says Bitcoin ban in India not final yet, is there any hope? appeared first on CryptoSlate.
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Earn Interest on Bitcoin and Other Cryptos with Amon

Take a step back and acquire interest on your crypto wallet; whether you are holding Bitcoin or other cryptocurrencies, the Amon Earn product allows you to earn interest for simply depositing cryptos. Instead of storing assets in an exchange such as Binance or Coinbase you simply deposit them in the Amon Wallet – doing so you will earn a percentage of interest every week. What is Amon Earn About?  With more than 95% of crypto users using digital currencies as part of their investment portfolio, a smaller number spend cryptocurrencies day to day – the future remains bright for crypto finance. So what has Amon done to help crypto investors and users? As easy as it sounds, they created an innovative Earn Product – by placing your cryptocurrencies in the Amon Wallet you can earn interest every week. Whether you are adding Bitcoin (BTC), Ethereum (ETH) or LiteCoin (LTC) to your Amon Wallet it is really very simple – every Monday without fail you will receive an additional interest payment for those currencies – you can earn more with Amon. And these are not the only cryptocurrencies, you can earn interest on more than 15 other cryptocurrencies! How Does Amon EARN Work? You might be wondering how Amon is able to provide interest from your deposited funds? It is quite straightforward – Amon has some great partnerships with Hedge Funds, professional trading companies that require large amounts of capital to place their trades. They borrow cryptocurrencies to third parties to pay their capital interests. Amon keeps only 20% of the proceeds and shares 80% with the community. Amon Earn is both easy and straightforward: Deposit your digital currencies in the Amon Wallet You will receive interests on deposited funds every Monday Want to withdraw? No problem – there is no locking period 20+ Coins – Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), BitcoinCash (BCH), LiteCoin (LTC), DASH, and other coins in the pipeline. How do I Calculate my Interest? Wondering how much you can earn? With the Amon Calculator, you can work out the potential interests from your deposited crypto funds. Simply insert the type of cryptocurrency you want to estimate as well as the amount and the calculator will give you an assessment of the weekly, monthly and annual yields that you could receive. Based on market conditions the level of interest may change a bit, on average Amon Team estimates a yearly yield of 3-10% per annum. The rates are updated every week and displayed on the APP. What Else Can You Do with the Amon Wallet? The Amon Wallet is not just an interest-earning wallet, it is much more. You can also use the wallet to:   Buy & Sell over seven cryptocurrencies   Deposit / Withdraw Euro with a unique Virtual IBAN   Exchange crypto-crypto and crypto-Euro   Track the performance of your coins   Pre-Order Card, Amon is shortly launching a debit card with a fully integrated powerful AI System to convert cryptos at the time of purchase. Who is Behind the Amon Wallet and How Secure is it? The Amon Wallet is secured by the SEC-regulated provider BitGo. BitGo is a supplier of custodial services that works with the top blockchain companies around the globe, handling millions of transactions and crypto assets. For additional piece of mind, they are also insured for up to $100 Million against loss and hacks. As a top-level partner known for its reliability, Amon decided to work with BitGo to provide real security for the users – your funds have never been safer in the Amon Wallet. Who is Amon? Starting its journey in 2017, Amon raised $1.5 Million via a successful ICO – in March 2019 Amon was proud to announce that they joined the Innovation Fund of MKB Bank, the fourth largest bank in Hungary. Amon Vision and Awards  Amon’s journey started in November 2017 when they began to build a unique Wallet that offered unrivaled services. Over the past year and a half Amon has been able to create different products for the needs of different crypto users: By holding your cryptos you can use the Earn product and make good interests You can buy Bitcoin or cryptos with Euro/swap between different cryptos – Amon is connected with a number of different exchanges and provides only the best rate for your exchange Amon will also be releasing a debit card backed by the Amon AI system to optimize users spending at the point of sale. Amon is proud to announce that they were awarded the Top Disruptive Company in 2019 at the Malta Blockchain Summit in May 2019 along with two other important projects, Bitcoin.com and HoloChain. If you have queries, please do free to drop them a line at hello@amon.tech or join the Amon community on the Amon Telegram Group. Download the Amon App on iOS, Android or use the Web wallet. The post Earn Interest on Bitcoin and Other Cryptos with Amon appeared first on ZyCrypto.
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