We are Still in a Bear Market For Bitcoin (Dec 2018)
We have been in a bear market for Bitcoin for nearly all of 2018. For that not to be true it’ll take a serious change in price action.
Short Interest on BTC and ETH at All Time High on Bitfinex
Short interest on BTC and ETH hit an all time high today as prices dropped to 2018 lows. Short interest generally shows sentiment (bearish in this case), but it also can be a set up for a short squeeze (like in April).
Civic (CVC), district0x (DNT), Loom Network (LOOM), and Decentraland (MANA) are launching on Coinbase Pro
Coinbase Pro will be adding the Ethereum-based tokens Civic (CVC), district0x (DNT), Loom Network (LOOM), and Decentraland (MANA).
Coinbase Explore Support For Even More New Digital Assets
Coinbase has reiterated its goal of adding a large range of digital assets, assuming they meet Coinbase standards and are compliant with local laws.
Crypto Congressperson to Introduce Bill to Exempt ICOs from Securities Laws
Ohio House Rep. Warren Davidson plans to introduce federal legislation to regulate ICOs. This includes creating an asset class for tokens that would prevent them from being classified as securities.
Will Bitcoin Go Back Up?
No one knows if Bitcoin will go back up or not. However, historically Bitcoin has been subject to a number of booms and busts and recovered to from new highs each time. The same is generally true for most altcoins that stood the test of time, although some never reclaimed their all time highs.
Bitcoin is Finally Trending Up in Google Trends
Bitcoin is finally trending up in Google Trends after being stuck at a low for most of 2018. In general the price of Bitcoin has directly correlated with Google trends.
Amazon Launching Blockchain Service That Uses IBM and Ethereum Tech
Amazon announced at Amazon’s re:Invent conference that they are launching the Amazon Managed Blockchain platform. Users can build platforms using either IBM’s Hyperledger Fabric (available) or Ethereum (not available yet).
NYSE Chairman Bullish on Bitcoin and Digital Asset Longevity
Chairman of the New York Stock Exchange NYSE Jeff Sprecher expressed the idea that “bitcoin and other digital assets are here to stay” at a recent CoinDesk Consensus: Invest conference.
BTC Has a Favorable Set-up… but the 2018 Bear Has Rarely Let Opportunities Like that Manifest
BTC has a favorable setup in terms of many moving averages and more. For example, the MACD is gearing up to cross on the daily, and we already have crosses of key averages on lower time frames.