Bitcoin futures go bullish

The upward trend is observed in the futures market. After last December many digital assets reached record prices, bitcoin and the crypto-exchange markets as a whole were “bearish” (declining) during the first month of 2018. At that time, traders forecast a downward trend in value, a “short” market. However, according to the latest data from the Commodity Futures Trading Commission (CFTС), bitcoin futures rates show that the vast majority of contracts become “long”, demonstrating that the cost of the BTC is becoming “bullish”, that is rising.

Bitcoin climbed about a great hike of $2,000 from its intraday low Tuesday, making up some of the losses it experienced from 2018's January correction.Bitcoin was trading around $7,900, after slapping a low of $5,947 a little over 12 hours ago. The world's largest cryptocurrency according to market cap opened at just under $7,000 on the day but hit a daily high of $7,763.

Overall, bitcoin has yet to make up a significant portion of the more than $10,000 it lost since reaching its all-time high of more than $19,000 in December, or even the $17,000 it fell from in mid-January. However, Bitcoin's increase reflects the overall cryptocurrency market cap, which jumped nearly $100 billion in 10 hours.

The increase will surely cause investors to let off a sigh of relief - the cryptocurrency had been plagued with severely declining values since it broke its price record.

Looking at the wider pattern of boom and bust in the highly unpredictable cryptocurrency market, it likely seems that today’s rebound will continue into new highs soon, or even a big gain.

Comments

Bitcoin a 'dangerous speculative bubble ,is it?

Mo n e y is a m a tt er o f f a ith, Bits of paper and computer bytes change hands billions of times a day as a measure of value because we trust the promise that they represent .in today's era of fiat money ,those promises rest ultimately on a guarantee by governments that they are valuable . that guarantee , as we have seen , is being questioned as the willingness of governments to live up to the promises of fiat currencies is called into question by the deterioration in public finances We often discuss the ways that new technologies and techniques are being used to improve the digital scenario consecutively To t r e at the debate about the f ut u re of mo ne y as a battle between econo m i c truths is to mi s und e r stand the nature of money itself. ...

Will it be possible that if Blockchain Technology can remould Global Payments System?

Payments are synonymous with a transaction that is guaranteed by a central authority which can be a bank, a payment wallet or an escrow service. Keeping the chronological timeline under consideration blockchain happens to be at the helm of technological advancement in the financial domain. A block is the ‘current’ part of a blockchain, which records some or all of the recent transactions. Once completed, a block goes into the blockchain as a permanent database. Each time a block gets completed, a new one is generated. “Blockchain technology continues to redefine not only how the exchange sector operates, but the global financial economy as a whole.” The core value of a blockchain is that it enables a database to be directly shared without a central administrator. Rather than having some centralized application logic, blockchain transactions have their own proof of validity and authorization to enforce the constraints. Hence, with the blockchain acting as a consensus ...

IMPACT OF BITCOIN IN INDIA

Crypto currency exchange operators remain untaxed of RBI warning that beware of Bitcoin " if India had to ban virtual currencies they would have done by now. in last 3 years, the RBI 's statement has been the same: they are uncomfortable with it and people should invest at their own risk . But tell me who is at risk everyone who has invested in it are making money and richer now.crypto currency is reality of the power of digital currencies which fast gaining popularity in India & world wide. It is now almost a decade since the first crypto currency, BITCOIN was developed in 2008 by Satoshi Nakamoto, but still, it is believed that we are in the nascent stages of crypto currency and block chain technology. It’s either gifted as an economic saviour of mankind or a complete annihilator of fiat currency. so visit the following links for more expert opinion of bitcoin. In the last couple of years there has been significant growth in the trading...

ETHXPAY

Search This Blog