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Volatility is the degree of variation of a trading price over time.

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Bitcoin Loses Key Support At $9,000 Following a Volatile Week: Weekly Crypto Market Update

We saw a busy week with events and attempts to influence the price. Bitcoin lost a key support level of $9,000 in a sudden move downwards which took its price to where it currently trades at around $8,700. However, the volatility continues and traders who’ve taken up leveraged positions might be in trouble as it’s quite difficult to keep up with the market. The month begins with a little enthusiasm and a quick correction which reminds us that the end of the year is approaching and there’s not a lot of time for the cryptocurrency market to move. Those who plan their taxes will have to close their positions. However, we saw an upward trend throughout most of the year and we don’t expect to see a realization of losses right before the end of the taxation period. On the other hand, Bakkt’s volume continues to increase steadily. This could suggest that institutions are waiting for a lower price to make their entry. Yet, it’s clear that Bakkt’s impact on the market wasn’t what many expected. Instead, it was news from China which brought the market up. Altcoins continue to hold on and some have even increased against Bitcoin and the US Dollar significantly. Of course, we haven’t seen inflows as serious as those back in 2016 and 2017. The trend is rather mixed up and this week we saw Tezos and VeChain making their holders happy with increases of around 30%. The money appears to be moving between the different cryptocurrencies after quick corrections and breakout attempts. We have yet to see if there is another chance for an altcoin season or if 2019 will go down in history as an unfruitful year for altcoins. It’s also interesting to see what will happen to Bitcoin’s dominance and which altcoins will be leading the list. Market Data Market Cap: $239.4B 24-Hour Volume: $65.9M BTC Dominance: 65.9% BTC: $8,752 ETH: $186.9 XRP: $0.27 BTC Shorts (BFX): 6.2K BTC BTC Longs (BFX): 25.7K BTC Hong Kong Set To Publish New Regulations On Cryptocurrency Exchanges Today. The financial regulators of Hong kong are reportedly introducing a new framework for cryptocurrency exchanges. The new guidelines should include KYC legislation as well as requirements for the storage of cryptocurrencies and security protocols. The move is geared at increasing investor protection. Exposed: Tron’s Justin Sun Real Reason For Warren Buffett Lunch Postponement (Not Kidney Stones). New information has appeared regarding one of what used to be the most anticipated events within the cryptocurrency community – the lunch between Warren Buffett and Justin Sun. Supposedly, the reason for which the event was postponed is that China’s administration got involved and put extreme pressure on TRON. Sources close to the matter even revealed that at some point “lives were at risk.” 4 Signs To Cash Оut During The Next Bitcoin Bull-Run. Having a clear investment strategy is undoubtedly one of the most important things to consider when investing in cryptocurrencies. Knowing when to cash out your profits is imperative for profitability. A recent Twitter thread posed this question and the answers are seriously interesting. Tether Denies Recent Bitcoin Whale Manipulation Study. Tether, the issuer of the most popular stablecoin, was recently under the gun as two US academics published a paper claiming Bitfinex and Tether manipulated Bitcoin’s price in 2017. The company has since come out with an official statement, denying all accusations. The Xi Effect: China To Invest Over $2 Billion On Blockchain In 2023. The involvement of China in the field of blockchain is set to increase even further. A recent report outlined that the country will increase its investment in the field, surpassing $2 billion in 2023. This news follows the announcement of President Xi’s endorsement a couple of weeks ago. Bakkt’s Institutional Bitcoin Custody Now Fully Licensed By The NYDFS. Bakkt, the Bitcoin futures trading platform of the Intercontinental Exchange (ICE) has managed to get an authorization for its Warehouse by the NYDFS. This will allow institutions to store their cryptocurrencies in Bakkt’s high-end storage solution, regardless of whether or not they trade futures contracts on the platform. Royal Bank of Canada Looking Into Launching Bitcoin Trading Platform. One of the largest banks in Canada, the Royal Bank of Canada (RBC), is reportedly looking into launching a Bitcoin trading platform for investments and online purchases. The venue would also include other cryptocurrencies. The bank also considers whether or not to allow customers to open bank accounts that contain digital currencies. Charts This week, we’ve analyzed the Bitcoin, Ethereum, XRP, EOS, and Qtum markets – click here for the full price analysis. The post Bitcoin Loses Key Support At $9,000 Following a Volatile Week: Weekly Crypto Market Update appeared first on CryptoPotato.
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Bitcoin Price Volatility Liquidates $90 Million in Brutal Pump and Dump

Bitcoin traders were badly whipsawed today and yesterday as the cryptocurrency rose above $9,100 only to dump back down to $8,600. The price action gives spot buyers or HODLers the opportunity to add to their long positions. A widely-followed trader shared a chart that explains bitcoin’s violent price action. Bitcoin surprised almost everyone on Sunday. […] The post Bitcoin Price Volatility Liquidates $90 Million in Brutal Pump and Dump appeared first on CCN.com
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Bitcoin Demand in Economically Volatile Countries Reaching Record Highs

Established in 2012, the platform has been a popular peer-to-peer exchange has been seeing a serious drop in its trading volume since May 2019. This decline was triggered by a slump in BTC price that was registered on other exchanges as well. Source: Coin Dance Another reason for this drop could be the popular platform […]
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Ripple CEO: In A Crypto Market Flooded With Too Many Coins, XRP Offers Less Volatility And Better Utility

Ripple has always made great efforts to prop up XRP, and those efforts have often paid off as various financial institutions get interested in the company’s payment solutions – one of which is xRapid that utilizes XRP. In a recent interview with Bloomberg, Ripple’s CEO, Brad Garlinghouse, didn’t mince his words in saying that there’s currently a huge number of cryptocurrencies that offer nothing, although he went ahead to admit that the bullish cycle is incoming and will affect the entire market.  Utility And Volatility However, Brad had a few notes to make, two of them being about the utility and volatility of cryptocurrencies and other global payment models like SWIFT. He opined that out of the over 3,000 cryptos currently in the market, only about 1% of them offer actual utility. XRP is one of those few that are trying to solve existing problems. The other 99% is likely to drop to zero at some point.  Speaking about volatility, Brad compared Ripple’s fast payment solutions to those of SWIFT. Until the blockchain technology came about and companies like Ripple entered the market, SWIFT was the best bet for cross-border transactions. Not anymore. Now, Ripple’s payment solutions can settle payments within seconds, and that’s very much unlike SWIFT whose transactions sometimes take days to settle. In that sense, Ripple’s xRapid that utilizes XRP ensures that transactions are settled instantly with zero volatility.  SWIFT Is Ready For Battle  On its part, SWIFT has announced that it’s not scared of the new blockchain technology that is now threatening its very existence. Over the last two years, the company has been developing and testing a new payment system, dubbed the Global Payment Innovation (GPI) that is faster and more efficient than the previous versions. The company hopes that GPI will help battle the growing competition.  Walmart Teams Up With Ripple Partners  In an effort to expand its client base and boost XRP adoption, Ripple has been on a charm offensive, signing up customers onto its RippleNet, partnering with big corporations, and investing in various blockchain-based startups. Just recently, Walmart partnered with Ria Transfer Money and MoneyGram to expose its customers to more payment options. Interestingly, the two companies are partners with Ripple. In fact, MoneyGram is already using xRapid. These strategic developments are likely to impact XRP in the long-term as usage increases. The post Ripple CEO: In A Crypto Market Flooded With Too Many Coins, XRP Offers Less Volatility And Better Utility appeared first on ZyCrypto.
ZyCrypto

Despite Volatility, Nearly Half of Financial Professionals Believe Bitcoin Will Outperform S&P 500 Over the Next 12 Months

NEW YORK, Nov. 6, 2019 /PRNewswire/ -- Despite its volatile nature, nearly half of financial professionals believe Bitcoin will be the investment class with the highest growth rate over the next 12 months according to a recent survey conducted by Chainalysis, the blockchain analysis company. Chainalysis polled 350 finance professionals including executives from banks, credit unions, financial services providers, and regulatory agencies at the ACAMS 19th Annual AML & Financial Crime Conference. Following the 48% of financial professionals that chose Bitcoin, one-third of survey respondents said equities (S&P 500) would be the investment class with the highest year-over-year growth, followed by fixed income (Bloomberg Barclays Bond Index) and the House Pricing Index (HPI) at 13% and 5%, respectively. The Gap Between Perception and Reality Despite recognizing the value in cryptocurrency, more than three-fourths (78%) of financial professionals said less than half of their retail clients transact with cryptocurrency businesses. Twenty-eight percent of financial professionals noted that between 1-10% of their customers transact with cryptocurrency businesses while one-third of respondents said that none of their customers are involved at all.  "Many finance professionals understand that cryptocurrency presents a massive opportunity, yet institutions are hesitant to enter the market due to ...Full story available on Benzinga.com
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NEO, VeChain Shoots Up As China Warms Up To Blockchain

Cryptos with links to China are seeing huge leaps as the rest of the market remains relatively quiet, thanks to some recent events that suggest that the Chinese government might be finally ready to open the doors for cryptos. It’s notable that some time back, China banned all crypto-related activities in the country, prompting various exchanges in the country like Binance to leave. A recent announcement by the Chinese president seems to have fueled a rather serious price surge for cryptos like VeChain and NEO. Granted, the two cryptos have been known to have strong links to China. China’s President publicly endorsed Blockchain development in the country, at the 18th collective study of the Political Bureau of the Central Committee held in China, President Xi Jinping delivered a speech to the members of the Political Bureau of the CPC Central Committee where he broadly stressed the importance of Blockchain as an independent innovation for technological breakthrough that must be developed in order to speed up its technological use case in the country. China Will Invest In Blockchain In a new report, it’s revealed that China is planning to invest around $2 billion in blockchain projects within the country over the next few years. This announcement caused a ripple effect, with almost the entire crypto market feeling the push. NEO gained by over 50% while VeChain has seen a cool 100% upsurge since Xi spoke. While the rest of the market also reacted positively to the news, the surge wasn’t as intense as that seen with NEO and VeChain. On average, the rest of the market managed to only gain around 17% following Xi’s pro-blockchain announcement. However, it’s still agreeable that the announcement has been very well received in the industry. In fact, following the news, Binance has expressed interest in opening up a branch in the Chinese capital, Beijing.  Chinese Media Publishing Crypto And Blockchain Content  Besides the Chinese government supporting the blockchain technology, the media, too, seems to have developed some love for cryptos. A state-owned media outlet has been publishing crypto and blockchain-related content in an effort to educate members of the public about them. In fact, one of the publications was entirely dedicated to Bitcoin and occupied the outlet’s front page.  The post NEO, VeChain Shoots Up As China Warms Up To Blockchain appeared first on ZyCrypto.
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Alibaba to Reward Free Bitcoin Through Shopping App Lolli

The pace of development of the crypto sector has been nothing short of breathtaking over the past few years, and now, free Bitcoin rewards are even becoming a real thing. In a new development that would come as a massive boost for Bitcoin and the crypto space in general, Chinese e-commerce behemoth Alibaba has now got involved in the space. The company has created a partnership with Lolli, a shopping rewards app, and by way of that partnership, Alibaba shoppers can claim 5% of their rewards in the form of Bitcoin. Major Details In ... ﾿ Read The Full Article On CryptoCurrencyNews.com Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
Crypto Currency News

NEO Spikes 100% Thanks to China’s Surprising Blockchain PivotNEO Spikes 100% Thanks to China's Surprising Blockchain Pivot

NEO has surged 100% over the past few weeks. The bullish sentiment behind this cryptocurrency rally seems to be related to China’s decision to embrace blockchain technology. One trader says NEO may have a bright forecast. NEO, one of China’s most prominent blockchain projects, has been on a roll since Chinese President Xi Jinping announced […] The post NEO Spikes 100% Thanks to China’s Surprising Blockchain Pivot appeared first on CCN.com China's blockchain pivot has launched NEO, a cryptocurrency nicknamed the "Chinese Ethereum," to a phenomenal 100% rally.
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Ant Financial of Alibaba Opens Up Blockchain Testing for Small and Medium-Sized Businesses

The fintech Alibaba Group firm Ant Financial is in tests for a blockchain network meant to help small and medium businesses. Its senior director for technology and business innovation Jieli Li has spoken at the Wuzhen World Blockchain Summit. He said that the technology for the Ant Blockchain Open Alliance should be live soon, three […]
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