The followed Chart Pattern bitcoin is highly reminiscent of the development of the Bitcoin course pursued in the year 2018. Bullish News came from BayernLB, in particular with a view to the Stock-to-Flow Ratio. Beyond Bitcoin the news to Binance with respect to their AML processes for investors were interesting.
Of Bitwala Trading Team
4. October 2019BTC$8.193,26 0.65%part Facebook Twitter LinkedIn xing mail
Of course fall in September’s Bitcoin even in the bone. But really desperate you do not need to be Both technically as well as fundamentally, there are plenty of reasons to remain long-term bullish.
Bitcoin: the development after November 2018?
the daily charts at the example of the value of pair BTC/USD on the stock exchange Bitstamp
discusses The development of the Bitcoin price since June 2019 is very reminiscent of the from 2018: A great Bull Run, a phase of consolidation Pattern in the Form of a Triangle, a dramatic share price fall, and finally a sideways phase. Within the last 10 days, there was no great volatility, so that there is reason to hope that the bulls make for a more rally ready.
Also, from another point of view, the recent price developments are considered to be quite bullish: It is a Falling forming Wedge. In the last bear market, this Pattern has been overlooked. You can assume that after the completion of a Falling Wedge the price of Bitcoin back to return to the beginning of the Pattern. After a last course quake should return Bitcoin back to $ 14,000.
BayernLB: Bullish with respect to Bitcoin
Interesting news came from the banking sector. A Report of BayernLB’s Research is true, if only by the choice of title, it is quite bullish. In the Report, titled “is Bitcoin the Gold of the rank?” throw in the analysts view on the Stock-to-Flow ratio. According to the Bitcoin would be a hard Asset, similar to Gold. As you can see from the figure above, there is also a strong correlation between the market capitalization and the ratio of the existing and the newly damaged Supply. This is, in particular, with respect to the Halvings in the next year will be very interesting.
Binance a new AML platform
The G20 summit, Japan has committed at the beginning of August, the guidelines of the Financial Action Task Force (FATF) to implement. These guidelines seem to have first impact. In accordance with the FATF requirements of crypto-exchanges need to implement a System for Identity determination of the customers. Binance works well in this context with the company Coinfirm. Shortly before this Announcement Chainalysis announced that they extend their services to several Altcoins and with respect to the AML policies with Bittrex to cooperate. Chainalysis is a company that is focused on the analysis of transaction flows on different blockchains.
Disclaimer: The information on this page is the illustrated rate estimates do not constitute buy or sell recommendations. They are merely an assessment of the analysts.
Charts on 4. October 2019 using trading view created.
USD/EUR exchange rate at the time of writing: € 0.92.
The market comment was written from the Bitwala Trading Team. Bitwala provides the easiest and safest way to buy Bitcoin directly from a Bank account and to sell. More info here.
More:
Bitcoin price at the time of 90.000 US Dollar: Bullish the study of the BayernLB Bitcoin price and Market analysis: Support holds “In many cases, still #reckless” – René Pickhardt on the Lightning network#BayernLB#Binance#Bitcoin
