Obscure Indicator Shows Why $20K is Important for Bitcoin
Obscure Indicator Shows Why $20,000 is Important for Bitcoin, a new report from the firm Bitwise, argues that the cryptocurrency’s price is sensitive to the level of fiat money in the $20,000 range.
The report, which comes days after another Bitwise report showed that the cryptocurrency had topped $20,000 on three separate occasions in the past month, argues that on these occasions, the price of bitcoin spiked by as much as $1,000 on average.
Most notably, the report notes that on December 12, 2017, when bitcoin was trading in the $17,000 range, the cryptocurrency’s price was sensitive to the level of fiat money in the $20,000 range. Within two
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A well-known indicator showed why $20,000 is important for bitcoin.
The indicator, known as the Ichimoku Kinko Hyo, is a technical indicator that shows where the price of bitcoin is likely to go next.
It was first discovered in the 1920s, and was named after a Japanese restaurant chain.
It’s used by traders to buy and sell bitcoin when it appears to be overvalued or undervalued.
An obscure indicator on a website called Bitcoinity, which tracks the price of Bitcoin in dollars, showed on Saturday, just before the most recent market sell-off, that $20,000 was the psychological threshold for the cryptocurrency.
That’s a big deal for Bitcoin, which was trading for about $3,000 a coin not long ago.
For now, the indicator is at $18,000, but it’s still moving upward.
The indicator is showing that the price of Bitcoin is close to breaking out of its current trading range, which is a good sign for investors, who want to see prices continue to rise, said Mati Greenspan, a senior market analyst with social trading firm eToro, which
Plus: better check in with the "crypto banks" - and venture capital
Venture capital firms are investing in fintech companies that use blockchain technology.
That’s helped spur a second wave of innovation in the industry.
You’ve probably heard of bitcoin and other cryptocurrencies.
But don’t confuse blockchain with cryptocurrency.
At the same time, an entire industry of “crypto banks” has emerged in recent years, offering banking services to those who want to keep their cryptocurrency holdings separate from their other money.
Some of these banks are backed by the original cryptocurrency companies, and some are backed by traditional institutions.
Venture capital firms have also begun to invest in these banks and other cryptocurrency companies.
This is all part of what is shaping up to be a major shift in the way we use money, from paper bills and coins to digital tokens and blockchain-based platforms.
The cryptocurrency market is huge, and it’s still growing.
But while some of the biggest and most popular cryptocurrencies have a lot of fans, many more people don’t know much about them at all.
What cryptocurrencies are, why they matter, and where to find out more are all questions people have about this new and exciting space.
Part of the reason for the uncertainty is that cryptocurrencies are so new, and there’s so much going on in the market that it’s hard to keep up with everything.
Obscure Bitcoin Indicator Shows Why $20K is Actually an Important Price
Bitcoin has been having a rough year.
After surging to nearly $20,000 in December, the world's first cryptocurrency has spent most of 2019 in a bear market.
Bitcoin has fallen from $14,000 to $4,000, and at one point fell below $3,000.
The coin has been heavily criticized for its inability to escape its current funk, and the mainstream has largely disregarded the digital asset as a legitimate investment.
This week has been a rollercoaster for Bitcoin traders.
The price of Bitcoin has been all over the place, ranging from a low of $6,400 to a high of $7,300. But is this price range truly significant? I think so.
In December 2017, Bitcoin hit a milestone few people outside the cryptocurrency space had ever heard of: $20,000.
The price was not only a record for Bitcoin—it was an all-time high for the entire crypto space.
For those who had been holding since the beginning, it was a life-changing event.
For those who heard about Bitcoin and wanted to jump on board, it was a missed opportunity.
Risk Factors: Let’s Check In With the “Crypto Banks”
We’ve all heard the hype: blockchain is the future of banking.
But what does that really mean for the industry today? And where do the so-called “crypto banks” fit into the picture? To find out, we spoke to experts and dug into the latest trends to understand how the banking industry can best navigate the age of cryptocurrency.
When it comes to banking, crypto has become a buzzword.
But what is crypto banking and how can it help you make money in the crypto space, even if you don’t have a bank account? We’ll define crypto banking, its risks and benefits, and how to get started if you’re ready to go beyond just buying coins.
If you’re like most people, you probably won’t remember the last time you saw a headline that didn’t involve the word “cryptocurrency.”
Over the past year and a half, cryptocurrencies have captured the attention of billions of people around the world.
But while cryptocurrencies are grabbing headlines, another technology has quietly been moving into the mainstream: blockchain.
JPMorgan Counts $18 Billion Worth of VC Deals in Crypto This Year
The largest bank in the U.S. is making a huge bet on blockchain and cryptocurrency.
JPMorgan is counting $18 billion worth of venture capital deals in the space this year, the bank’s CEO Jamie Dimon said at the bank’s annual investor day on Tuesday.
That’s more than double the $9 billion the bank put toward blockchain-related investments in 2018, according to data from CB Insights.
The majority of the bank’s blockchain funding has gone toward supporting enterprise solutions like supply chain, banking and payments, Dimon said.
JPMorgan Chase, one of the biggest banks in the world, has announced it has counted $18 billion worth of venture capital deals in cryptocurrency this year.
That's a small fraction of the bank's overall $23 billion venture capital portfolio, but it's a sign that the bank is increasingly looking at cryptocurrencies as a potential investment.
This comes as other banks and financial institutions have been cutting cryptocurrency exposure.
JPMorgan is counting more than $18 billion in venture capital investments in blockchain and cryptocurrency this year, the bank’s head of digital asset markets told Bloomberg on Tuesday.
"In terms of the money that’s been raised and the money that’s been invested, it’s been the single largest market we’ve seen
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