Bitcoin is nearing its all-time high again and everyone in the cryptocurrency markets is wondering what is going on here…
The daily chart shows the erratic reaction to the SEC decision to disapprove the ETF of the Winklevoss twins. After that, the price came back astonishingly for a few days, but fell again to new post-decision lows.
But miraculously from there it recovered once again and that in spite of the BTC ecosystem and its surrounding mood becoming more cloudy by the day.
The bitcoin world experienced some rather bad developments during the last months:
It looks like the incumbents and tycoons are beginning to turn against bitcoin and the technical part of it and the community behind it are also signaling possibly large problems ahead.
And still the price is marching upwards…
Trading bitcoin is okay, while investing into it could be dangerous! Of course, holding it after your opening of a long trade survived a tight stop, may be even better.
After all, bitcoin has shown a steep and stunning trend during the last years. Literally from nothing to a market cap of currently $20B.
So, there is volatility out there and fortunately trading bitcoin can be conveniently done with the help of CFDs.
Just remember that all this could be a modern tulip mania!
The SEC has finally decided against the proposed rule change that would have allowed the Winklevoss ETF to be listed and traded on the BATS exchange. The chart shows an early spike on misinterpreted news setting a new all-time high and demonstrating the fear of some bitcoin traders to miss the wave, and later the […]
During the last hours bitcoin advanced through the magic line of about $1170, its all-time high from more than 3 years ago. The chart of the last 35 days shows a bumpy ride with the first attempt to crack the all-time high crippled by the Chinese central bank and its actions to torpedo bitcoin trading […]
During the last hours bitcoin crashed more than 20% shortly before making a new all-time high against the dollar. The vehement move suggests that the recent rally was driven by short-term oriented traders and not by long-term investors who anticipated a new bull run after clearing the all-time high. Overall, that is a less bullish […]
Bitcoin, the amazing cryptocurrency, has advanced over the last days. Currently it trades around $900 with the all-time high of almost $1200 in sight. The all-time high of BTC/EUR is even more close, because of the decline of the euro against the dollar. As usual, many explanations are circling around. Some have to do with […]
Since about one year oil is on the run. It ran down! Now it is oscillating. And that is exactly the market needed for swing trading. To make money we need smooth swings. A market suitable for swing traders produces smooth swings. It is swingy. What most see just as a useless tautology is universal […]