Get Ready for Cryptocurrency Market Volatility

Bitcoin and other cryptocurrencies plummeted once again on Monday. Bitcoin has dropped through the $6000 level, fell to a one year low, and almost touched the $4500 barrier. What is a worry for bitcoin and altcoin holders, is a great opportunity for CFD traders that can take short positions. Make sure you have your trading accounts ready when huge price swings come.

On Sunday and Monday, November 18-19 digital coin market capitalization fell by more than $14 billion. On Monday morning (UCT) Bitcoin fell sharply reaching the lowest point in over a year. The leading cryptocurrency almost touched the psychological barrier of $5000. Major altcoins – Ethereum, XRP, Bitcoin, and Litecoin followed. Bloomberg Galaxy Crypto Index dropped by almost 7 percent to a one year low, too.

simplefx

Before the mid-November, it seemed that the $6,000 level for Bitcoin is a hard barrier. The bulls defended it for over half a year. As you can see the price dropped below the barrier and the market started testing the next $4500 wall.

Analyst comment that finally the volatility may have returned to the cryptocurrency market. The recent sell-off was probably caused by two events. First is the growing concern about the bull market last. As you can see on the 1-day Nasdaq 100 Index chart below, the stock market is falling since the beginning of October.

simplefx

Second is the uncertainty and division among the cryptocurrency leaders and developers. Last weeks’ Bitcoin Cash hard fork may have caused some of the stir. The network divided after rival software-development groups failed to reach an agreement on how to improve the altcoin. That led to a kind of cold war with computing power, instead of nuclear power, arms race.

BCH division and controversy

Since it’s creating, which came as an effect of a feud between original Bitcoin factions, Bitcoin Cash was supposed to perform a scheduled protocol upgrade twice a year. It was always assumed to be a hard fork, that is a protocol change where the nodes running previous versions will no longer work with the new version nodes.

The newest hard fork was supposed to happen on November 15 but was sabotaged by competing groups. As a result, BCH split into three factions –  a conservative Bitcoin ABC led by Roger Ver that believes BCH worked well, a progressive Bitcoin SV led by Craig Wright, who had declared himself as BTC creator Satoshi Nakamoto, and a neutral consolatory fraction Bitcoin Unlimited.

simplefx

Here’s what happened to BCHUSD as a result of the conflict among the developers, source: SimpleFX WebTrader.

Get your CFD account ready for the stormy crypto forecasts

At the moment the most aggressive crypto bulls are reviewing their forecasts. A managing partner at Fundstrat Global Advisors Thomas J. Lee cut his BTCUSD target for the end of 2018 from $25,000 to $15,000. His explanation is quite clear: “Crypto-specific events have led to greater uncertainty in the crypto market, including the contentious hard fork for Bitcoin Cash,” said Lee quoted by Bloomberg.

An influential crypto trader Hsaka commented on Twitter: “$BTC Update. Could be forming a nifty little range here. Swept shortstops and tested range bottom. Swept long stops. Now if price can reclaim the zone around $5,400, a retest of $5,600s looks likely.”

simplefxXRP has been an attractive CFD trading instrument recently, source: SimpleFX WebTrader

Make sure you make the most of the possible price swing coming. Deposit some money on your crypto CFD trading accounts. SimpleFX WebTrader app designed for mobile is a perfect solution for reactive trading. It offers free multicurrency accounts, including Bitcoin, Bitcoin Cash, Dash, Litecoin, Ethereum, and no minimum deposits. Give it a try now, and make sure you keep SimpleFX WebTrader in your pocket when you learn about next steep crypto price moves.

BitStarz Player Wins a Whopping $70,000 – Are You Feeling Lucky?

There are many pretenders to the crown, but there really is only one king of cryptocurrency casinos. BitStarz has been changing the gaming scene since day one, with it able to boast a stacked 1800+ game collection, 10 minutes cashouts, and the friendliest customer service around. Now, after an electric 2018, it can add big payouts to its list of credentials. The latest of which has seen a lucky player walk away with a jaw-dropping $70,000 after spinning the reels of 5 Mariachis.

$206,000, $265,000, $148,000, $105,000, $95,000, and even $300,000 have been won this year alone, so it’s safe to say that the big wins have found a home at BitStarz. Players from around the world have been smashing the slots and reaping the rewards, but it seems that player, in particular, have had more luck than most. Scoring 3 of the 7 mega-wins that have happened this year, you can now add this latest $70,000 payout on 5 Mariachis to BitStarz rapidly growing winners list.

There might be several Mexico themed slots at BitStarz, but there’s only one 5 Mariachis. Overflowing with wilds, free spins, and – as we all know – real money wins, this slot from Habanero will have players dancing all the way to the bank. 5 Mariachis makes up just one game of the more than 1800 available at BitStarz. Choice is something that players will never be short of at this Bitcoin casino, with so many loaded slots to choose from, now is the time to jump into the action.

If you have a BitStarz account, you’re already in the driving seat. Play any of our slot games and you could be our next winner – it’s that simple. New members can also join in the fun, with a few extra treats sprinkled into the mix for our fresh-faced players. Register now and you’ll get a welcome bonus package worth up to 5 BTC PLUS up to 180 free spins – bonuses simply don’t come any bigger than this.

BitStarz is where the action is and the action is live – play today and you could soon join our list of big winners!

www.bitstarz.eu

For more information about this latest big win, along with everything else BitStarz has to offer, please contact Srdjan Kapor at srdjan.kapor@bitstarz.com.

Press contact:

Srdjan Kapor
Marketing Manager
srdjan.kapor@bitstarz.com
www.bitstarz.eu

Here’s What Happened in Blockchain Life 2018

This is a press release. Crypto-News India urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below.

In Russia, St. Petersburg took place one of the largest international blockchain, cryptocurrency and mining forum – Blockchain Life 2018.

The global industry event was attended by leading companies in the industry, including: world cryptocurrency exchanges (Okex, Huobi, etc.), mining giants Bitmain, Bitfury and Btc.com, creators and top managers of key cryptocurrencies (Bitcoin Gold, NEM, etc.), leading Asian funds, investing in blockchain startups.

In two days, the forum gathered more than 4,000 participants from different cities and countries. In one place, it was possible to collect cryptocurrency funds from around the world, private investors, representatives of top coins, crypto traders, owners of ICO projects, entrepreneurs, developers, miners and novice crypto enthusiasts. On the forum was announced a new equipment from leading developers, international companies entered into partnerships on the main stage on the forum and on the sidelines, and the participants were able to personally communicate with world industry leaders.



Industry leaders gave unique presentations at the forum: Roger Ver (Bitcoin.com), Sergey Khitrov (Listing.Help, Icotop.io), Anatoly Kaplan (ForkLog), Vit Jedlička (President of Liberland), Tone Vays (Trader and Analyst), Jason Hu (World Blockchain Organization), Khalid Dianov (BigX) and other leading industry representatives.

The key moment of the forum was the thematic section “The State and Blockchain”, which was attended by the head of the working group on cryptocurrencies in the State Duma Elina Sidorenko, advisor to the chairman of the board of Vnesheconombank Vladimir Demin, adviser to the Governor of St. Petersburg Artem Sheykin, member of the expert council on digital economics and blockchain technologies of the State Duma of the Russian Federation Venera Shaidullina. The section was moderated by the main organizer of the forum – Sergey Khitrov.



“Some project and it has the word blockchain, then this is necessarily the leading project of the company. Even if the blockchain is not needed there in any way. And we need this bubble of mistrust, we need to pierce at least once. As soon as people see that it works and brings some benefits, we will immediately see another attention to our industry, ”says Demin, calling for the popularization of technology.

One of the most memorable episodes of the forum is the presentation of ICO-projects by investors and crypto funds from different countries – from Italy to China. As part of the ICO Pitch, 15 innovative projects were made, of which three of the most promising were noted: the HYGH media advertising providers platform, the CoinStruction multi-functional cryptocurrency exchange system, and the Blueshare token.

The organizer of the forum is the leading global agency for listing projects on cryptocurrency exchanges – Listing.help

General sponsor of the forum was the international platform Goldjob. Among the partners of the conference it is worth mentioning the Swiss stock exchange for digital assets – BigX. Diamond forum sponsors: market leader in listing projects on Listing.Help cryptocurrency exchanges, Bitlish cryptocurrency exchange, ICOTOP rating agency and SIMEX cryptocurrency exchange.

After the enchanting success of the forum in Russia, the organizers are planning to hold an event in the heart of Asia – Singapore, in the spring of 2019.

Crypto-News India does not endorse, nor is responsible for any material included above and isn’t responsible for any damages or losses connected with any products or services mentioned in the story.

Share with your friends