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Bitcoin Cash Price Weekly Analysis – BCH vs. USD – Uptrend

Bitcoin Cash Price Weekly Analysis

Bitcoin cash has experienced a surge in price towards $700 against the USD. BCH vs. USD is presently ameliorating and retaining an essential support at $600

Bitcoin Cash Price Weekly Analysis

Key factors

• Bitcoin coins price surged up this past week and broke $600 in opposition to America dollar.
• There is a primary bullish trend line forming with an assist at $600 on the four hours chart of BCH/USD (information from Kraken).
• The pair should remain above the $600 handle if it has to stay inside the bullish region.
Bitcoin cash rate rocketed up towards $700 in opposition to the US dollar. BCH/USD is currently improving and retaining a vital support at $600.

Bitcoin cash price support

It changed into a bullish week for Bitcoin cash price as it climbed above the $500 and $600 ranges towards the US dollar. The price even made a nice upside pass above $650 to test the $700. But, it failed at $684 and started out a downward correction. There was a downward reaction going underneath the 23.6% Fib retracement level of the closing wave from the $430 low to $684 excessive.

However, the downward circulates found aid near $585. The 38.2% Fib retracement stage of the last wave from the $430 low to $684 high also protected losses. At the downward, there may be a leading bullish trend line forming with support at $600 at the 4-hours chart of BCH/USD. So long as the Bitcoin Cash and US Dollar stays above the trend line aid and $600, it is possible to continue shifting higher. At the upside, the $650 and $685 tiers are resistance tiers. However, the most important resistance is closer to $700.

In another fashion, a break of $600 could spark a wave towards $550 and the 50% Fib retracement level of the previous wave from the $450 low and $684 high; the general trend is bullish as long as the price stays above $600.

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Bitcoin Cryptocurrency Trading

Bitcoin Price Weekly Analysis – BTC vs. USD

Bitcoin Price Weekly Analysis

Bitcoin price stays well in the bullish quarter above $7000 towards the US dollar. BTC/USD would possibly break $7500 soon and could even test $8000.

Bitcoin Price Weekly Analysis

Key factors

• Bitcoin price is gaining tempo and will probably smash the $7500 resistance against US dollar.
• There is a significant bullish trend line forming with help at $7300 at the 4-hours chart of BTC/USD (information from SimpleFX).
• The pair is now nicely supported above the $7300 and $7000 aid level for higher gains.
Bitcoin price remains nicely within the bullish zone above $7000 towards US dollar. BTC/USD might damage $7500 quickly and could even take a look at $8000.

Bitcoin price stays purchase on Dips

There had been monster gains in Bitcoin fee because it moved above $6500 and $7000 in opposition to US dollar. The price attracted a variety of pace and investors succeeded in even breaking the $7200 barrier. A current high was formed close to $7477. Before $7477, there has been a swing high at $7438 for a downside correction. Dealers drive the rate backward in the direction of $7000, and a low was formed at $6945.

Later, the price recovered sharply and moved above $7200. There was even a near above the 76.four% Fib retracement level of the remaining drop from the $7438 high to $6945 low. It opened the doors for higher gains above $7438. It looks as if the price could soon smash $7500 and check the 1.236 Fib extension of the final drop from the $7438 excessive to $6945 low at $7555. Above the $7555 stage, the next target will be the 1.618 Fib extension of the ultimate drop from the $7438 high to $6945 low around $7700.

If consumers continue to be on top of the market, there’s even a risk of a test of $8000 within the coming days. At the disadvantage, there is a prime bullish fashion line forming with support at $7300 at the four hours chart of Bitcoin vs. USD, which is also a purchase region.

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Cryptocurrency Ethereum Trading

Ethereum Price Weekly Analysis – ETH vs. USD

Ethereum_Price_Weekly_Analysis

Ethereum price has surged to the positive level against the USD and Bitcoin. Regardless of this feat attained, ETH/USD needs to gain to surge up high above $305 and $310 for more gains.

Key points to consider

1. ETH suffered a decline in price towards $274USD and recovered rapidly.
2. There is a very important rough trend line forming with opposition at 350USD on the four hours chart of Ethereum vs. US Dollar
3. The duo has to break the $305 resistance and dwell above the 100 SMA (H4) to challenge $340.
Ethereum Price Resistance

Ethereum_Price_Weekly_Analysis

Charts courtesy – SimpleFX

This past week, we saw multiple swing moves in ETH fee toward $274 towards the US Dollar. The price tested the main assist region at $274 and commenced an upside movement. The recovery became solid because the price moved above $300 and the 100 simple transferring common (H4). However, the upside move changed into capped using the $305.50 resistance. There is also a critical bearish trend line forming with resistance at $305 at the four-hour chart of ETH/USD.

The trend line resistance averted profits and driven the price again underneath $300 and a 100 SMA (H4). The fee is currently trading close to the 23.6% Fib retracement level of the final wave from the $274.65 low to $305.22 high. There may be a respectable assist at $289.00 and the 50% Fib retracement degree of the wave from the $274. Sixty-five low to $305.22 excessive. It needs to hold losses below $288 in the brief term, or there is a risk of a drawback flow in the direction of $280.

On the upside, investors want to break the trend line resistance and $305 for greater gains. The following resistance is at $310 accompanied by the $325. An essential resistance is at $340 where investors would appear.

  • 4 hours MACD – The MACD is about to move back in the bullish zone.
  • 4-hours RSI – The RSI is currently just above the 50 level.
  • Major Support Level – $289
  • Major Resistance Level – $305
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Bitcoin Trading

Bitcoin Trading: CME Group to Officially Launch Bitcoin Futures

There is excellent news for almost all the individuals out there that CME Group has come over with the announcement as related to the launch of bitcoin trading: futures. They will be coming up with the launching as straight into the fourth quarter of 2017, pending with some of the associated regulatory review periods.  This new contract will be based over on top of the CME CF Bitcoin Reference Rate (BRR). In simple, we would say that this agreement would finally be serving out with the one-day reference rate for U.S. dollar price of bitcoin.

For the information of the readers, we would like to mention that since November 2016, CME Group and Crypto Facilities Ltd had overall calculated and published with BRR. This will be aggregating the trade flow measurement as about some of the important bitcoin spot exchanges areas. This might happen over the time – the Dollar price of one bitcoin as of 4:00 p.m. London time.

bitcoin trading futures

The Main Purpose of Designing BRR:

BRR has explicitly been designed as for IOSCO Principles. In these principles, we would be mentioning up with the financial Benchmarks. Bitstamp, GDAX, itBit, and Kraken are known out to be part of constituent exchanges that was somehow showing their major contributions in the pricing date to calculate the BRR.

Dr Timo Schlaefer who is the CEO of Crypto Facilities has mentioned in one of his statements that we are much anxious to work along with CME Group as in favour of this product. BRR has been witnessed to be used for the range of settlement mechanism as about this major product. BRR has been specifically contributed to the qualities that make it come out to be reliable and often transparent in reflecting the global bitcoin-dollar trading. It has undoubtedly made itself one of the first choices of the financial centres as well as trading firms and in the data providers all over the world.

Crypto Facilities Ltd. And CME Group did come about with the publishing of the CME CF Bitcoin Real-Time Index (BRTI). It does play a vital role where it is providing the wholesome price transparency to encounter the bitcoin trading marketplaces. BRTI has been making an extensive use of the global demand right which it would be able to buy and sell the bitcoin into the consolidated order book. This BRTI is also published in the condition of real-time and is suitable for marking portfolios and even in terms of executing intra-day bitcoin transactions and the risk management.

The Process

As it is all evidence that there are so many options of Bitcoin review futures inside the marketplaces that would be soon coming into the way. Just as after the course of signing the exclusive BTC market data dealing with the Gemini Exchange in August; CBOE’s CEO Ed Tilly it was stated that the company and so as his team is looking much forward in response to the immediate growth of the interest in cryptocurrencies right through the creation of the bitcoin futures as being traded on top of the regulated exchanges.

It does offer some of the greatest benefits to the users namely transparency as well as price discovery and deep liquidity and centralized clearing. It is to be highlighted that over the past few years the Cryptocurrency market capitalization has raised up to the level of $172 billion is where the Bitcoin trading is making the representation of about 54% of the total or even $94billion. Overall, we would bring the concluding fact that this bitcoin spot market has roughly grown to the amount of $1.5 billion in notional value each day.

To Sum Up:

This was the end of the comprehensive discussion about how Bitcoin trading CME group will be bringing closer the launch of Bitcoin futures soon for the market holders. It would be much improved and enhanced with its features provision.

What do you think?

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5 Step For Beginners To Start With Bitcoin Trading

5 Step For Beginners To Start Trading Bitcoin

Have you been reading our posts? Today we will focus on the novice Bitcoin traders. Here, I will bring to you an easy guide in trading Bitcoins where you will reap a profit.

Cryptocurrency trading is the new thing and Bitcoin-the oldest can be extremely rewarding in terms of the spread. By spread I mean the arbitrage profit you will get by differing market prices. That is, the global market margin is widely available. This is usually as a result of different cross-rates calculations. With this, arbitrage comes in and many people can easily exploit this by trading Bitcoins.

If you have been careful about the cryptocurrency and economic news you watch; you will realize that there is a certain criterion followed by Bitcoin and any other Cryptocurrency out there. First, it is usually volatility followed by the bubble. With each bubble, the media attention shifts focus to Bitcoin. This spread of news creates attention and Bitcoin prices become volatile. That is with the increased attention; more people start tinkering with Bitcoin which becomes a hype and then the trading. This lasts until the Bitcoin hype fades.

Trading in Bitcoin is very easy. The reason for this lies in the fact that Bitcoin is global and has very little requirements. In fact, there is little to no verification when it comes to trading.  Like any other security in the market, investors want their Bitcoins to maximize their wealth while the speculators want to gain their spread from arbitrage.

To start trading in Bitcoins, you need to join one of the many online trading companies offering CFD. This stands for Contract For Difference.

What makes Bitcoin trading easy?

The answer to this question lies in the various characteristics of Bitcoin. Some of these also lie with other cryptocurrencies but are more advanced and recognized in Bitcoin. These are:

  • Volatility: Like any good speculating security in the stocks market, Bitcoin is volatile. Its prices are always yawning and are frequent enough to for daily charts. Actually, CoinDesk BPI provides these charts on a daily basis.
  • 24-hour trading: What makes Bitcoin more profitable and better than the securities market is that it trades 24/7. Part of this lies in the fact that Bitcoin is global and there is no time limit because of the different time zones.
  • Bitcoin is decentralized: This makes it independent of the various government controls. Also being decentralized makes it global meaning that any economic control in one place does not directly affect its prices. Such controls would be the devaluation of currencies or various controls in capital markets. Actually, these measures by the governments are what makes the prices of Bitcoin rise. An example is the 2013 Bubble created by Cyprus capital controls.

These factors have made Bitcoin a favorable security to invest and speculate in. actually, the other cryptocurrencies use Bitcoin as a Benchmark when it comes to trading.

Starting Bitcoin trading

Before we head there, it is important to know a few things when it comes to Bitcoin trading. First is that China leads in Bitcoin Trading. All the data collected from the many sources show that trading volumes in China are dominating the market.

It seems ironical considering that China is one of the most restrictive states to have a flourishing cryptocurrency in the market. Some might consider this a freedom of expression since Bitcoin is independent of any state power. However, that is not the case as most if not all Chinese Bitcoin Blockchain merchants consider Bitcoin as an asset to be capitalized on. That plus the following reasons is what makes China the leading Bitcoin Trader globally.

Global Leaders in Bitcoin

China hosts one of the largest Bitcoin miners, Bitmain. Bitmain operates two pools that accounts for almost 30% of all Bitcoin processing power. The other reason for China’s dominance is that the Bitcoin trading is that the Chines government had relaxed its finance regulations. This made trading much easier. This means that the Bitcoin market was also more developed and mature than the rest of the world. In the market, leverage was always maximized by lending, options, and derivatives. Also to this is that in China, exchanges were not charged. This means that Bots could trade non-stop to increase the spread in case of arbitrages.

This, however, has changed and the market dominance has shifted to Japan. The reason for this is that the Chines government has started imposing trade restrictions on virtual currencies. This is especially so on the companies that offer Initial Coin Offerings(ICOs) such as the oldest company in China BTCC. Others such as Huobi has have been exempted but the deadline will be on October 30.  As of September this year, Japan had slightly over 50% of the global trades.

Getting started with Bitcoin Trading

The first rule of the thumb is that Bitcoin has no official trading exchange. This leaves the duty of searching testing and trading to you. Have no worries though, there rules to follow while selecting these trading sites.

  1. Location:  Where the company doing the exchange is very important. This lies in the rules, laws and the regulations of that country. Also, this goes with the type of currency the exchange is taking. The recommended action is to always take exchange company in your country.
  2. Purchasing: The mode of purchasing is important. What method does the exchange take and what will work to your convenience?
  3. Exchange fee: You need to pay a certain fee when doing the exchange. Check if it has been inflated or if any other fee stands to reason.
  4. Security: Is the website HTT or HTTPS. The authentication steps to follow when entering your account.

After going using these basics to get your preferred site; you should also be able to avoid being scammed. There are many people over the net trying to get yours over using Bitcoin scams. Try to avoid these as much as you can.

Now, there are some reputable sites where trading is safe, secure and reputable. The following is a list that I have compiled. This is according to my best knowledge and your input and addition are welcome. This is compiled in terms of USD volume from the first.

Buy Bitcoin from best Bitcoin Exchanges

  1. Bitfinex. This exchange is the first in terms of USD volume. Its daily volume is 25000 BTC.
  2. Bitstamp. The company was founded in 2011 making it one of the oldest exchanges. its daily volume is 1000 BTC.
  3. Coinbase. This was the first exchange to be regulated in the United States. Coinbase trade volume is about 8000 BTC daily.
  4. Okcoin. Since the downfall of China dominance in the market, Okcoin has taken a huge dip but its worthy to mention it in the list. It used to trade at over 9000 BTC but this has fallen to less than 1000 on the day of publishing this article.
  5. Another worthy mention is Kraken. It is the first in terms of EUR daily trading volumes at around 6000 BTC. This makes it top 20 in terms of USD volume.

Trading risks

Like any other security in the market, Bitcoin has its own trading risks. Some of these are discussed below.

  1. Leaving money on Exchange:

Bitcoin is an independent non-participant currency. Apparently many do not know this. one of the most remembered cases is the Gox collapse. During its time, it was one of the largest exchange points. It was one of the easiest ways to obtain Bitcoins but on its collapse, users left more than 800,000 Bitcoins in Gox accounts. In February 20014, withdrawals were halted and up to now not have received their funds.

The best way to avoid a case like Gox catastrophe is to use a regulated exchange.

  1. Capital risk: Your capital your risk. You should start trading at low amounts then growing to larger and larger when you start gaining profit. This you will do after learning the strategies and understanding the market signs.

Above anything else, before trading, you should search and find the best strategies to use in trading Bitcoin. There are many resources on Bitcoin on the internet that you should utilize to your fullest.

Step by Step Bitcoin trading

To trade, you will of course need to sign up an account. Kraken will be used in this excerpt as a general guide to get you started.

To open an account, go to the official website and click sing up box.

Confirmation will be done using email. Once this is done, you will log in and fill your personal information.

Once you sign up and all your levels or verification are procedures are followed. You will get the following.

 

kraken_01

By the way. Every Exchange must follow the AML and KYC laws for verification.

Once your account is set up; go to funding and select your preferred choice of funding. You will get the following screen shot.

kraken_02

As with Kraken, there are many choices of deposits to choose from.

These are:

  • EUR SEPA Deposit (Free) – EEA countries only
  • EUR Bank Wire Deposit (€5) – EEA countries only
  • USD Bank Wire Deposit (Free until 3/1/2016, then $5 USD) – US only
  • USD SEPA and SWIFT Deposit (0.19%, $20 minimum)
  • GBP SEPA and SWIFT Deposit (0.19%, £10 minimum)
  • JPY Bank deposit (Free, ¥5,000 deposit minimum) – Japan only
  • CAD Interac Deposit (Free until 3/1/2016, then 1%, $10 CAD fee minimum, $5,000 CAD deposit maximum)
  • CAD EFT Deposit (Free until 3/1/2016, then 1%, $10 CAD fee minimum, $50 CAD fee maximum, $10,000 CAD deposit maximum)

The deposits are different. With the banking system, the deposits take a maximum of three working days to process while with Bitcoins it can take about an hour but with six different confirmations.

To begin trading, select Trade tab. You can switch the trading pairs to match which you want using the black bar. To begin our trade assuming a $300 deposit in the account, select new trade. Here, you see that Bitcoin is trading at 0.5XBT for $37O per Bitcoin.

kraken_03

On checking the last trade, the price was $383.17.

The reason for this is because, one may submit at a lower price than the current one. This is done when expecting a fall in the prices of Bitcoin. Since in this case my bid is lower than the market price; my order will be processed later than the others. This is so because of placing an order through the Limitorder. This places an order by a particular price. Before placing an order, you should check the orderbook for your trading pair before deciding the price.

An example is the following:

kraken_04_bitcoin_order_book

As you can see, there are various prices through which people have placed their orders. You can skip this by placing an order through the market price. Such as the following:

As such, the market order will submit a buy order at the lowest possible available sell order which is 0.5XBT at $384.07 per XBT. If it is selling, it will place at the highest sell order of which is $382.5.

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