Forecast and levels for Cryptocurrencies - page 6

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Sergey Golubev
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Sergey Golubev  

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Leading MetaTrader 5 brokers launch cryptocurrency trading

MetaQuotes Software Corp., 2017.10.13 10:37

Bitcoin trading gains popularity, and the impressive volatility of cryptocurrencies attracts more and more traders. To satisfy this trend, MetaTrader 5 brokers started to offer cryptocurrency trading to their clients. Last month, several leading market players have launched Bitcoin, Dashcoin, Ethereum, Litecoin, and Ripple trading through the MetaTrader 5 platform.

The rapidly growing and highly volatile cryptocurrency market is seen as a promising alternative to traditional trading instruments. Over the past 9 months, Bitcoin price has risen more than three times. The dynamics of Ethereum is even more impressive, which started with 8 USD at the beginning of the year and has reached the current price of 298 USD. Naturally, such dramatic price changes attract both Forex professionals and beginners.

"Cryptocurrencies and blockchain technology may be the future of payments, but MetaTrader 5 is already the future of trading platforms," says Jens Chrzanowski, Management Board Member of Admiral Markets. "The platform provides extensive features and is future-proofed for the coming years. Last, but not least, our Supreme Edition add-on package is also available for our new MetaTrader 5, boosting the platform with over 60 dynamic trading tools."

Jens Chrzanowski

Jens Chrzanowski, Management Board Member of Admiral Markets Group AS

"Now, trading cryptocurrencies means keeping pace with the times. This opportunity has become available in MetaTrader 5, which is one of the most advanced and highly technological multi-asset trading platforms," comments Kirill Kirichenka, the RoboForex Product Manager. "Cryptocurrency trading is now available to our clients 24 hours a day, 5 days a week. It is the only asset that is traded without breaks and holidays, and passionate traders will definitely enjoy the possibility to trade on Saturdays and Sundays. The hype around cryptocurrencies is extremely high, because now it is the most volatile market, which gives traders a chance to earn high profits. Is it another dot-com inflated bubble or a new reality? The answer will become clear later, as soon as the cryptocurrency market is completely formed. In the meantime, the market is shaping up. However, no matter how the situation develops in the future, it is clear that the priceless technologies brought by cryptocurrencies will stay with us."

Alexander Kapustin, the head of Marketing in the BCS Forex Operations department, also commented the launch of new symbols, "The launch of Bitcoin trading on BCS Forex MetaTrader 5 accounts is more than just a desire to follow the trend. It is first of all the reaction to an overwhelming number of customer requests. Our specialists have chosen the most balanced and profitable conditions for BTCUSD and BTCEUR trading. Cryptocurrencies are new trading instruments, and now their movements can hardly be subject to technical and fundamental analysis. BCS Forex provides clients everything they need to successfully trade Bitcoin, while urging them to carefully follow proper risk management rules when trading cryptocurrencies."

Angus Walker

Angus Walker, IC Markets Director

"We're extremely pleased to now be giving traders access to Bitcoin, Ethereum, Lite Coin, Dash Coin and Bitcoin Cash with flexible trading conditions," adds Angus Walker, IC Markets Director. "The Cryptocurrency market is unlike any other offered by IC Markets. Completely unregulated, incredibly volatile and driven primarily by the fear and greed of retail speculators. Over 2017 we have seen the market cap of many cryptos soar to record highs, and at the same time we've seen governments and regulators across the world beginning to embrace this digital currency. With this in mind it was an easy decision to add the largest and most popular cryptocurrencies to our growing multi-asset offering."


Marco vd Heijden
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Marco vd Heijden  

This is good news, but it also raises questions.

We have seen in the 1 August fork when the blockchain split into Bitcoin Classic, and Bitcoin cash,

That anybody who held a wallet with coins, successfully doubled their amount of coins, because from the moment of the fork,

they held as much of the new Bitcoin cash, as they owned Bitcoin Classic before the fork.

Simply said, it means that you can spend the same wallet on both of the blockchains, so you can spend your coins twice.

But, this only applied to people who were holding coins in a wallet, so not to people holding open positions in metatrader.

So then the question is if a trader decides to use and deposit Bitcoins in his trading account, are they held in a wallet ?

Will the trader see anything from the new coins generated on the new blockchain in case of a fork ?

Or will this coin doubler be solely for the Brokers account's mentioned above ?

One has to have a clear understanding of this.

By the architecture of the Crypto-currency networks, by the way it is designed, and the way it functions, these forks have to be taken into (trading) account.

At this moment in time it is up to the trader to decide which route to take.

Sergey Golubev
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Sergey Golubev, 2017.10.15 08:29

Bitcoin - daily bullish breakout; 6,000 is the key target (based on the article)

Daily price is breaking 5,406 resistance level to above for the bullish breakout to be continuing with 6,000 psy level as a nearest bullish target.


  • "Bitcoin has a couple of things in common with the famous 17th century tulips -- as an investment vehicle that is. One of them is the promise to change peoples’ lives, which excites and hypes investor imagination. Another is the astronomical rise in the prices of the two investment vehicles, which helped early investors amass fortunes in short periods of time."
  • "A fixed supply makes Bitcoin prices demand driven. The more people become familiar with the cryptocurrency, the higher the demand and the price for Bitcoins."

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Chart was made on MT5 with BrainTrading system (MT5) from this thread (free to download) as well as the following indicators from CodeBase:

All about BrainTrading system for MT5:


Sergey Golubev
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Sergey Golubev, 2017.10.15 08:39

Litecoin - daily bullish isa near to be started; 76 is the key target (based on the article)

Daily price is on ranging near and below Ichimoku cloud by 59 resistance level to be testing for the primary bullish reversal to be started.


  • "Litecoin prices have risen sharply over the last month, climbing more than 100% since mid-September. "Litecoin is just cruising in Bitcoin's wake," said Tim Enneking, managing director of Crypto Asset Management."
  • "Charles Hayter, co-founder and CEO of leveraged digital currency platform CryptoCompare, offered a similar point of view, asserting that "the majority" of Litecoin's recent price increase could be linked to Bitcoin's rise."

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Chart was made on MT5 with BrainTrading system (MT5) from this thread (free to download) as well as the following indicators from CodeBase:

All about BrainTrading system for MT5:


Marco vd Heijden
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Marco vd Heijden  
And yet another new all time high @ 6000$.
Marco vd Heijden
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Marco vd Heijden  

The second fork of the Blockchain is getting closer.

Sergey Golubev
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Sergey Golubev, 2017.10.29 09:50

A Guide to the 5 Major Cryptocurrencies (based on the article)


Bitcoin

Bitcoin is currently the largest, most famous, and most valuable cryptocurrency. It was also the first, being launched by the still-anonymous “Satoshi Nakamoto” in 2009. Its market capitalization on 1st September 2017 was more than $77 billion, when there were an estimated 3 million individual owners of Bitcoins. It is accepted at more retail outlets than any other cryptocurrency. Bitcoin is the obvious choice for most investors, speculators and traders, as it is the most liquid cryptocurrency and can be bought, sold, or otherwise traded through more platforms than any alternative. Bitcoins are created by mining, which used to be within the capability of retail laptops and PCs, but is no longer so easily attainable. At current mining rates, 12.5 Bitcoins are created approximately every 10 minutes.



This rate of creation will gradually slow, until the total number of Bitcoins in existence reaches at most 21 million, which is expected to occur around the year 2140. All transactions, including the creation of new Bitcoins and all Bitcoin sales and transfers, are recorded in a public ledger. As such, transactions must be accepted by most nodes in the Bitcoin blockchain technology, and since Bitcoin is relatively widely owned, transactions take at least 10 minutes to be fully verified. Bitcoin miners act as the nodes within the blockchain, effectively administering the system and processing all transactions. Once all 21 million bitcoins have been mined, miners will have an increased need to charge transaction fees to maintain profitability. For this reason alone, traders are concerned that the cryptocurrency may face a problem in the future. It is worth noting though, that the purchase of assets or even an exchange of currency also incurs a transaction fee, so Bitcoin is not necessarily disadvantaged compared to other tradeable assets. Miners may already charge transaction fees if they wish, and choose which pending transactions to prioritize by whether they generate a fee. This means that if you are in a hurry, you can pay a little extra to get your transaction processed faster.

Bitcoin transactions and ownership are effectively private, as although the blockchain’s ledger is public and contains a record of every transaction ever made, owners are identified by digital credentials (“keys”) and not by name or other identifying factors. Owners may store and safeguard their keys using a variety of methods, all which will be covered later in more detail.

Ethereum

Ethereum is second to Bitcoin in size. It went live in 2015, and was developed by a Bitcoin programmer who was disenchanted with Bitcoin’s functionality.

Its market capitalization on 1st September 2017 was over $36 billion, a little under half that of Bitcoin, and there are an estimated 750,000 individual owners of Ether (as the currency is technically known). It is accepted by very few retail outlets or any other commercial organizations as a means of payment. The essence of Ethereum is that it is a blockchain technology designed to operate “smart contracts”, which are computer protocols intended to facilitate, verify, or enforce the negotiation or performance of a contract. The way to think of Ethereum is as a currency for business contracts over the internet, as opposed to Bitcoin which aims to be more of a store of value and generalized means of exchange. The amazing thing about “smart contracts” is that they are self-policing: the contracts are automatically voided when one party fails to fulfil their obligation. 



In other ways, Ethereum is functionally similar to Bitcoin. It is also mined, but the rules governing how it will be mined in the future are less clear than Bitcoin’s rules. Ethereum has a more corporate image, and was brought to market by a Swiss company. Ethereum has had some negative publicity as its ledger has been successfully hacked, and it has undergone several splits by “hard forks”, the first of which was engineered as a method to recover assets stolen in the hacking event. Nevertheless, some cryptocurrency analysts see Ethereum as likely to overtake Bitcoin in market capitalization at some point in the future. Still, recent months have seen Bitcoin’s capitalization grow proportionally faster than Ethereum’s.

Bitcoin Cash

Bitcoin Cash is an offshoot of Bitcoin, created on 1st August 2017 from a “hard fork” in the Bitcoin blockchain. This “hard fork” was the result of tension between those who prioritized Bitcoin as a store of value (i.e. an investment) over a means of exchange (i.e. transactional cash). Some Bitcoin miners wanted limits to be lifted which would increase the speed of transaction times. The result was that some Bitcoins split to form a new cryptocurrency with a faster transaction time, called Bitcoin Cash. It is mined and otherwise functions in the same way as Bitcoin. Its market capitalization on 1st September 2017 was over $9.8 billion, about one-eighth that of Bitcoin. Bitcoin Cash is typically most useful for people who need to derive their income streams from cryptocurrency, or make lots of fast business transactions. It can be seen as an investment vehicle as it has a market niche, and since the split, there is no doubt that its price has risen faster than Bitcoin’s has.

Ripple

Ripple is the fourth largest cryptocurrency. Its market capitalization on 1st September 2017 was just under $9 billion. 

It was released in 2012 but had been in development for 8 years prior. Ripple is quite different than Bitcoin and Ethereum, having a more corporate image and backing, and is really a decentralized transaction network verified by consensus rather than a straightforward cryptocurrency. It was developed as a fast and cheap real-time gross settlement system, and it can verify transactions in a few seconds, much faster than any other cryptocurrency. It is already used by several major banks, who consider it a more secure system than Bitcoin and other cryptocurrencies. Its native currency is the “Ripple”, but it can support any unit of value, whether fiat currency such as the U.S. dollar or even airmiles or other tokens! This flexibility, as well as its adoption by banks, attracts some investors who feel that Ripple’s technology will dominate the market and eventually overtake Bitcoin and Ethereum in market capitalization. However, it should be noted that its value has been rising much more slowly over the second and third quarters of 2017 than the value of other major cryptocurrencies.

Litecoin

Litecoin is the fifth largest cryptocurrency. Its market capitalization on 1st September 2017 was $3.4 billion. It was released in 2011 and was a fork from Bitcoin, i.e. an offshoot of Bitcoin. Its operation is nearly identical to Bitcoin’s in every way, except it has always had a much faster processing speed, and can currently process transactions at about four times the speed of Bitcoin.


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Charts were made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

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Same systems for MT4/MT5:

The beginning

  1. ASCTrend system, the beginning, part #1
  2. ASCTrend system, the beginning, part #2
  3. ASCTrend system, the beginning, part #3
  4. ASCTrend system, the beginning, part #4 
  5. Digital ASCTrend (Digital Filters with ASCTrend system combined).
  6. LabTrend (LabTrend indicators, LabTrendZigZag, templates, Labtrend EAs) - the thread

After

  1. The main AscTrend thread is this one.
  2. Asctrend indicator in depth 
  3. ASCTREND SYSTEM summary (good EAs included) 
  4. Brainwashing system/AscTrend system (MT5) - the thread  


Sergey Golubev
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Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

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Sergey Golubev, 2017.11.02 06:35

Bitcoin/USD - bullish breakout (based on the article)

Price on the weekly chart broke 6,074 resistance level to above for the resistance level at 6,918 to be tested for the bullish trend to be continuing.


  • "BITCOIN climbed to a new all-time high of US$6,500 yesterday, boosted by bets the cryptocurrency could enter the financial mainstream after the world’s largest derivatives exchange operator said on Tuesday it would launch bitcoin futures."
  • "CME Group Inc said it would provide a regulated trading venue for the cryptocurrency market and would launch the new derivatives in the fourth quarter of 2017. The announcement was seen as a major step in the digital currency’s path toward legitimacy and mainstream financial adoption."

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The chart was made on W1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:


Marco vd Heijden
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Marco vd Heijden  

Don't forget: B2X Fork coming up later on this month.

http://bashco.github.io/2x_Countdown/

Make sure your coins are in cold storage, the Bitcoin team issued a warning: https://bitcoin.org/en/alert/2017-10-09-segwit2x-safety

And the other recently forked coin BTG Bitcoin Gold is also about to go live, they are currently running a testnet: https://twitter.com/bitcoingold

Now Bitcoin Gold makes it possible to mine with GPU's again in stead of ASIC's so if you have an old mining rig somewhere in your basement, this would be the time to dust it off and power it up...

Sergey Golubev
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Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

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Sergey Golubev, 2017.11.02 14:08

U.S. SEC Warns Over Crypto ICO's & 'Potentially Unlawful' Celebrity Promotion (based on Forbes article)


  • "With a gob of money being thrown at Initial Coin Offerings (ICOs) of late and breaking records amid the price of Bitcoin hitting new highs, the U.S. Securities & Commission (SEC) has issued a statement in relation to “celebrities and others” using social media networks to encourage the public to purchase stocks and other investments. “These endorsements may be unlawful if they do not disclose the nature, source, and amount of any compensation paid, directly or indirectly, by the company in exchange for the endorsement,” a statement from the SEC issued this Wednesday read."
  • "The SEC’s Enforcement Division and Office of Compliance Inspections and Examinations is encouraging investors to be “wary of investment opportunities” that sound too good to be true."
  • "As Charles Hoskinson, formerly an Ethereum co-founder who in 2015 founded IOHK, a leading blockchain R&D company, said to me in relation to ICO’s recently: “Once people realize they can make money through this mechanism [ICOs] many people are going to try. It’s a value transfer mechanism."


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