Bitcoin price and Market analysis: Bloomberg agreed to bullish

but in the case of Bitcoin, a bullisher trend change? It should go after Bloomberg, then Yes. The SEC confirmed that Bitcoin is not a Security, is also bullish.

Of Bitwala Trading Team
8. October 2019BTC$8.167,52 -0.60%part Facebook Twitter LinkedIn xing mail

In the last few weeks the Bitcoin has exchange rate were rather disappointed. Accordingly, some fear that with the rate even further down. This way is really the only one who can come? Some of the points bullish.

Bitcoin price: Coming soon in the swing?

The price of Bitcoin is trapped in a sideways channel and is still below the moving average of the last 200 days. The VPVR suggests that the next rate movement is either a drastic 25 percent or 35 percent down to go.

A glance at the MACD indicator gives us hope: The strong downward trend of the last few days has come to an end. It may be possible that the price of Bitcoin is on the verge of a major, positive change in trend. For this, the fact that Bloomberg's Global Strength Indicator for Bitcoin provides for the first Time in November 2018, a buy-signal:

Bitcoin, in Spite of everything Top Asset 2019

Anyway, you should look at the recent price fall and the subsequent sideways phase in a larger context: The price of Bitcoin doubled, while the price of gold were able to win only 17 percent and the S&P 500 Index's 21 percent. Even compared to well-performing Tech companies that could show a return of around 31 percent, makes Bitcoin even after the recent share price fall is a very good figure.

Bakkt is gaining momentum [display] buy Bitcoin with the Bitwala account. Why have a Bank account with Bitwala? A Bank account is “Made in Germany” with protection of deposits up to 100,000 euros; 24/7 Bitcoin trading with faster liquidity; trading only ‘real’ Bitcoin has no financial derivatives such as CFDs; Secure users of lift-off control of the Bitcoin Wallet and the private key; With the contactless Debit Mastercard worldwide, and pay.

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Also on fronts beyond the course, a lot going on. Although the Start of the Bakkt Futures was rather weak. Now the crypto-Investment Fund, Galaxy Digital and the OTC dealer XBTO have, however, acted in great style Bitcoin Futures Over-the-Counter. The low trading volume on Bakkt was for these two companies is not a deal-breaker.

Finally: Bitcoin under SEC no Security

Also on the part of the regulation, there is positive news. According to a letter from the SEC to the Cipher Technologies Bitcoin Fund of the employees of the authority see in Bitcoin not a security. Specifically, it is stated:

We do not believe that the current Bitcoin buyer rely on any entrepreneurial efforts to achieve profits.

This letter is the first public confirmation that the SEC is Bitcoin is not considered a security.

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 8. October 2019 using trading view created.

USD/EUR exchange rate at the time of writing: € 0.91.

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.

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