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Bitcoin Price Analysis: Downward Path – Path of Least Resistance for BTC / USD

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Bitcoin is at a level below $ 3,400, which serves as local resistance, separating the price from the stronger barrier created by the upper line of the Bollinger Band (1 hour) at $ 3,500.

Digital coin No. 1 remains under strong bearish pressure in cryptocurrency markets. It seems that traders focus on uncertainty and negative factors and ignore positive events.  

BTC / USD fell by more than 84% of its historical peak, although, if the previous experience is repeated, it still has a chance for a strong recovery.

On intraday charts, the BTC / USD remained below the middle line of the Bollinger band (1-hour chart) and dropped to $ 3,400. The coin found support at the level of $ 3,360, created by the lower edge of the above-mentioned Bollinger band. A steady move below will push the price to $ 3,300 dollars and to the recent minimum of $ 3,211.

The path to growth is permeated by technical resistance levels, which include the SMA100 at $ 3,417, the middle line of the Bollinger band at $ 3,430, the SMA50 at $ 3,460. As soon as these barriers disappear, the price will reach $ 3,500, where a new interest in selling may appear. However, if it is cleared, the recovery will keep pace with the following focus on $ 3,600 and $ 3,630 (SMA200, 1 hour).

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Service from CipherTrace monitors suspicious activity for 700 crypto assets

The analytical service CipherTrace began to track suspicious transactions for more than 700 crypto assets, CoinDesk reports. The updated platform now supports 87 of the top 100 assets, as well as ERC-20 standard tokens. The CipherTrace solution allows you to view the complete transaction history for each of the digital currencies available for tracking and set alerts for addresses marked as suspicious. The company sells its product […]

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The analytical service CipherTrace began to track suspicious transactions for more than 700 crypto assets, CoinDesk reports.

The updated platform now supports 87 of the top 100 assets, as well as ERC-20 standard tokens. The CipherTrace solution allows you to view the complete transaction history for each of the digital currencies available for tracking and set alerts for addresses marked as suspicious.

The company sells its product to government organizations and law enforcement agencies, as well as companies seeking to comply with increasingly stringent regulations.

“By only helping virtual asset services free networks from criminals and terrorists, can the industry achieve a level of trust that is sufficient for massive adoption ,” said CipherTrace CEO Dave Jevans.

Also, he said, previously many large sections of the cryptocurrency ecosystem remained opaque, which made it difficult to combat money laundering and the financing of terrorism.

Recall that in September CipherTrace launched the Scout application , which allows determining whether certain coins in the Bitcoin and Ethereum blockchains are connected with criminal activity.

In particular, the application identifies coins that could be used in illegal activities, including darknet purchases and ransomware attacks requiring ransom in cryptocurrencies.

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CME: The number of contracts for bitcoin futures in 2019 increased by 61%

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The Chicago Mercantile Exchange (CME) group on Monday presented a detailed report on the performance of its bitcoin futures market for the third quarter of this year.

According to the exchange, the number of active contracts compared to the same period last year increased by 61% – from 2,873 to 4,629. Despite the BTC price drop by 25%, the number of active contracts compared to the second quarter decreased by only 1%.

The average daily trading volume for CME bitcoin futures in the third quarter amounted to 5,534 contracts, up 10% compared to last year. The company notes that this value corresponds to 27,670 BTC or $ 289 million.

“Institutional flows remained strong. 454 new accounts were added against 231 in the third quarter of 2018, ”the exchange said.

The number of customers holding more than 25 bitcoins and ranked among large investors on this basis increased from 45 to 47 from the last quarter, while there were 34 of them a year ago.

About half of CME bitcoin futures trading in the third quarter was accounted for by users from the United States, 26% from the Asia-Pacific region, and 21% from Europe and the Middle East.

Last week, CME's head of alternative investments, Tim McCourt, said that the exchange hopes to attract no less interest in the upcoming options for bitcoin futures than in the futures themselves.

Publication date 10/15/2019
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CoinShares and Blockchain launch gold token on Bitcoin sidechain

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CoinShares, a company specializing in circulating asset management, together with Blockchain, a cryptocurrency wallet provider, as well as the Swiss company MKS, which provides precious metals trading services, introduced the DGLD token, secured by gold.

According to CoinShares, the launch of the network took place today, the project tokens are provided with $ 20 million in gold, which will be held in the Swiss store. Each DGLD token is supported by 1/10 troy ounce.

Danny Masters, a spokesman for CoinShares, noted that the new asset will function as a sidechain of the flagship cryptocurrency network. The token combines the stability of the world's most stable asset, that is, gold, and the security of the most reliable blockchain network, i.e. Bitcoin.

Masters also drew attention to the fact that DGLD owners can be calm about the fact that gold is physically stored in a reliable way in Switzerland, and at the same time take full advantage of a digital asset without resorting to the help of intermediaries, such as ETFs for gold.

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Name Price24H (%)
Bitcoin (BTC)
$8,180.03
-2.05%
Ethereum (ETH)
$180.38
-3.27%
XRP (XRP)
$0.290831
-1.17%
Bitcoin Cash (BCH)
$225.01
-0.92%
EOS (EOS)
$2.98
-4.80%
Stellar (XLM)
$0.064502
-0.55%
Litecoin (LTC)
$55.02
-3.49%
Cardano (ADA)
$0.039831
-3.99%
Tether (USDT)
$1.00
-0.05%
Monero (XMR)
$52.04
-2.01%
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