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Relationship between BTC rate fluctuations and Fibonacci numbers, the next cycle $ 220,000

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The code behind any cryptocurrency always remains a mystery to many, especially when you consider that cryptography is basically mathematical models integrated into a meaningful system.

And Bitcoin (BTC) holds the palm as the very first successful system that emerged as a functioning crypto network.

However, what many mathematicians and analysts are interested in now is the obvious connection between the fluctuations in the price of bitcoin and a specific mathematical model.

For example, one analyst claims that cryptocurrency follows a Fibonacci number sequence (elements of a number sequence in which the first two numbers are either 1 and 1, or 0 and 1, and each subsequent number is equal to the sum of the previous two numbers), which, apparently, dictates the rise and fall of prices.

“Does Bitcoin follow a mathematical path? It seems that they are controlled by Fibonacci numbers … If so, then the next cycle will be a maximum of about $ 220 thousand, and a minimum of about $ 36 thousand, ” user paTo tweeted.

For many years, crypto traders have used the Fibonacci number series to make decisions, analyzing price levels and graphs, trends and turning points in order to evaluate the next successful moment for investing.

Note that many mathematics analysts notice that Bitcoin has indeed followed such a price mechanism four times in a row. So the question is, was his code intentionally designed in this way? If so, the paTo analyst may be right.

In essence, this means that the rise in the price of bitcoin has not yet ended. In addition, the expectation of future price increases could trigger FOMO among crypto fans and, in turn, give an initial boost to growth – when people rush to buy before it's too late.

As previously reported, the Spanish bank Santander has denied rumors that it is refusing to service the Coinbase cryptocurrency exchange .

Publication date 08/17/2019
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Wells Fargo Banking Holding creates stablecoin pegged to US dollar

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U.S. financial giant Wells Fargo is working on a cryptocurrency pegged to the dollar. The company announced this in its press release .

According to the company, the future stablecoin will be used as part of its own blockchain platform. Its main focus will be cross-border payments between the company and its partners around the world. Moreover, other companies outside the US will be able to use cryptocurrency to complete transactions between themselves.

The decision to issue cryptocurrency in the company is explained by the need to reduce the cost of payments between different countries, as well as the acceleration of this process. The current mechanisms cannot be called bad, but they are already outdated: high commissions, terms of several days per transaction – all this cryptocurrency can leave in the past.

Wells Fargo assures that their stablecoin will provide almost instant payments, and the process of their implementation will become much simpler. Next year, the company will begin a pilot project during which the cryptocurrency will be tested in test mode. Initially, only dollars will be available for transfers, but in the future it is planned to add support for many other currencies.

Wells Fargo is not the first bank that intends to launch its cryptocurrency, but it is not only one of the largest banks in the world and in the USA, but also one of the most expensive companies in the world. The arrival of such a player will show other companies that without their own digital currencies and blockchain ecosystems, they will have nothing to do in this market.

Publication date 09/19/2019
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North Korea plans to launch its own cryptocurrency

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North Korea is creating a cryptocurrency with which the country will be able to avoid international sanctions.

It is assumed that the cryptocurrency development project is at an early stage. Its goal is the same as that of the Venezuelan project – last year the topic of developing the state’s national digital currency, Petro, was actively discussed. A cryptocurrency that does not yet have a name will be similar to the technology used by BTC or altoins. Currently, the team that is working on the project is studying products that could be tied to cryptocurrency. It is known that the payment instrument will not be exactly supported by the national currency of North Korea.

Experts believe that North Korea has enough opportunities and developments to present a good cryptocurrency. So, we can assume that the state will be able to improve its position in this way.

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The head of the SEC said when Bitcoin will appear on large traditional exchanges

Chairman of the US Securities and Exchange Commission (SEC) Jay Clayton said that bitcoin needs more regulation for listing on large exchanges. It is reported by CNBC. “If investors believe that Bitcoin pricing is as strict as on the Nasdaq or the New York Stock Exchange, then they are very mistaken. We must get to the point where we are sure […]

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Chairman of the US Securities and Exchange Commission (SEC) Jay Clayton said that bitcoin needs more regulation for listing on large exchanges. It is reported by CNBC .

“If investors believe that Bitcoin pricing is as strict as on the Nasdaq or the New York Stock Exchange, then they are very mistaken. We must get to the point where we are sure that trade is regulated correctly , ”he stressed.

We are talking about listing conditions for bitcoin itself, and not derivatives, such as CME futures.

Recall, Clayton said earlier that some progress on Bitcoin ETFs has been achieved. VanEck and SolidX have withdrawn their application.

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Name Price24H (%)
Bitcoin (BTC)
$10,228.97
0.58%
Ethereum (ETH)
$220.03
4.25%
XRP (XRP)
$0.300791
-3.77%
Bitcoin Cash (BCH)
$319.60
-1.59%
EOS (EOS)
$3.94
-3.68%
Stellar (XLM)
$0.081227
0.40%
Litecoin (LTC)
$76.64
-2.16%
Cardano (ADA)
$0.052569
-0.76%
Tether (USDT)
$1.00
0.18%
Monero (XMR)
$75.76
-3.86%
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