Bitcoin Reflections: Key Levels Approaching

Bitcoin had another good week with positive news coming in and price continuing to climb. Whether we are reaching levels too fast is another story. The asset definitely has the momentum it needs to break through some key levels and escape out of the bear trend which is still intact. 
 
This week we will begin our reflections from a technical perspective and spend the latter part of the piece on the major news of the week. Looking forward to your feedback.

Technical Levels

 
Another week of upwards movement for Bitcoin. During the week we saw multiple retests of the 13EMA line that we have been following closely. The level acted as key support and we continued to see an upward trend. We are now approaching the 200d Moving Average yet again. This is going to be the second retest of the level. The last one was in the final week of April 2018. We didn't manage to break through it last time. This time we also have the psychological barrier of $10,000 which is at the...
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Bitcoin Reflections: 17th March 2018

bitcoin coinbase google ico Mar 17, 2018

Another difficult week in the world of Bitcoin as it broke a key technical support level. This fits into our thesis from last week where there was a slew of negative news that had caused Bitcoin to break down. 

Bitcoin this last week had a lot important news that had large impacts on price.

1. Google ban on cryptocurrency ads

One of the big news that started off the week on a negative note was Google coming out and saying that it would be banning all crypto related ads on it's network. The last time Facebook issued the similar stance price fell 12%. Similarly we saw a large sell off take place when the news was announced this week. A majority of these ads are usually by large ICO's and large exchanges that aggressively advertise. By reducing two major awareness on-ramps, this limits both new money being invested in the major currencies as well as ICO's. This ban will go in effect from June 2018.

2. Coinbase has turned over details for 13,000 US citizens to the IRS

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Analysis of the Bankera ICO – Building a Bank for the Blockchain Era

by: Tam Ging Wien


All examples and stocks quoted here in this article and on the ProButterflyTM site are for learning purposes; it does NOT constitute financial advice or a Buy/Sell recommendation. Contents are reflective of personal views and readers are responsible for their own investments and are advised to perform their own independent due diligence and take into account their own financial situation. All investments carry risk. The risk of investing in cryptocurrencies and blockchain related startups is extremely high and you may potentially loose all your investment capital. If in any doubt about the investment action you should take, you should consult a professional certified financial advisor.


 

Bankera, after successfully raising €25mil - 9 days ahead of schedule in the largest pre-ICO till date is planning a full ICO to sell 7,500mil Banker (BNK) tokens. The ICO will start on 27-Nov-2017 and run until 28-Feb-2018 for 3 months or after the 7,500mil BNK tokens...

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Quick Thoughts Recent China ICO Ban and Crypto-exchange Shutdown

by: Tam Ging Wien


All examples and stocks quoted here in this article and on the ProButterflyTM site are for learning purposes; it does NOT constitute financial advice or a Buy/Sell recommendation. Contents are reflective of personal views and readers are responsible for their own investments and are advised to perform their own independent due diligence and take into their own financial situation. If in any doubt about the investment action you should take, you should consult a professional certified financial advisor.


China’s central bank, The People’s Bank of China (PBOC) became the first country to outlaw ICOs or short for Initial Coin Offerings. South Korea has followed suit days after China. Countless other governments such as Singapore, Hong Kong, the US and UK have issued public warnings regarding ICOs.

ICOs are similar to IPOs. In an IPO a company raises funds from the public and list its stock on a publicly tradable stock exchange. In the case of an ICO, the...

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Banking for the Blockchain Era


Warning: This is NOT investment advice and this is NOT a buy/sell call. ProButterflyTM is NOT your investment advisor. The risk of investing in cryptocurrencies and blockchain related startups is extremely high and you may potentially loose all your investment capital. If in doubt on the action you will take, please consult a professional certified financial advisor.


ProButterflyTM has come across a fairly innovative company called Bankera who is attempting to build a blockchain based bank. Bankera will integrating traditional fiat and cryptocurrency related banking services. Bankera is in the process of their pre-ICO followed by an ICO and SCO to raise funds primarily to satisfy capital adequacy requirement ratios and obtaining banking licenses. The pre-ICO will be taking place starting on 28-Aug-2017 at 12pm London time (7pm Singapore time)

Bankera will offer payment accounts (with personal IBAN, debit cards, interbank foreign exchange rates, and payment processing), loans...

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