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Bitcoin Trading Alert: Bitcoin Corrects from Top

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Posted by Mike McCara - Sunshine Profits

on Wednesday, 17 May 2017 03:58

Bitcoin Trading Alert originally sent to subscribers on May 15, 2017, 11:38 AM.

In short: no speculative positions.

A hacker attack has swept across the globe encrypting user files and crashing corporate services. In an article on CoinDesk, we read:

Extortionist hackers who may be using leaked computer exploits from the U.S. National Security Agency infiltrated computers in dozens of countries in a fast-spreading attack that forced British hospitals to turn away patients and breached systems at Spain’s Telefonica SA and organizations from Russia to Taiwan.

The ransomware used in Friday’s cyber-attacks encrypts files and demands that victims pay $300 in bitcoin for them to be decrypted, the latest in a vexing style of security breaches that, at the very least, forces organizations to revert to backup systems to keep critical systems running. The malicious software has infected more than 75,000 computers in 99 countries worldwide on Friday, most of them concentrated in Russia, Ukraine and Taiwan, according to Dutch cybersecurity company Avast Software BV.

Several other well-know companies have been affected such as Deutsche Bahn or Renault. Reports have also emerges claiming that people are unwilling to pay the ransom since it’s relatively complicated for them to set up a Bitcoin wallet.

This is bad publicity for Bitcoin as it highlights the features of the currency that have captured the imagination of mainstream media for some time now – the superficial anonymity and the possibility to use Bitcoin for illegal transactions. It is perhaps not fair for the currency – it is only a tool in the hands of criminals and there’s nothing inherently criminal in Bitcoin itself. Actually, the more interesting part of the story is that it is still too hard for people to use Bitcoin – a state of things that has prevailed for a couple of years now.

For now, let’s focus on the charts.

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Currency

Live From The Trading Desk: Canadian Dollar Front & Centre

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Posted by Michael Campbell & Victor Adair

on Monday, 15 May 2017 07:54

Victor on some data that just came out about the Canadian Dollar that shows massive negative sentiment on the Canadian Dollar.

....alsoL Featured Guest Tyler Bollhorn on Interpreting What the Market is Telling Us

Screen Shot 2014-10-03 at 10.43.49 AM



Currency

Bitcoin Is In Such Demand, Investors Are Almost Paying Double The Spot Price

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Posted by Orange Peel Investments

on Friday, 12 May 2017 07:57

Summary

Shares of the Grayscale Bitcoin Trust traded at an 80% premium at one point this week.

The GBTC is still the only brokerage-tradable asset to transact Bitcoin, putting it in demand.

The price of BTC has also soared this past week.

Don't buy one BTC for the cost of two BTC. Here's how to avoid this premium and get exposure to BTC.

The bitcoin craze has really picked up steam over the last couple of weeks. The price of the digital currency has skyrocketed from previous all-time highs around $1,300 to an additional almost 40% on top of that, trading over $1,700 at several points this past week and over $1,800 this morning.

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....continue reading HERE



Currency

Bitcoin soars past $1,700 for the first time

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Posted by Business Insider

on Tuesday, 09 May 2017 07:59

Bitcoin
Bitcoin
 seems unstoppable, topping $1,700 for the first time on Tuesday.

The cryptocurrency trades up 3.45% at $1,720.82 a coin, as trade grinds higher for the 16th time in 18 sessions. It has gained nearly 50% during its run.

Tuesday's gain comes without any obvious catalyst as traders await the US Securities and Exchange Commission's ruling on whether it will reverse its decision to reject the Winklevoss twins' exchange-traded fund.

The SEC rejected two bitcoin ETFs back in March, saying it "is disapproving this proposed rule change because it does not find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest."

Bitcoin recently has shrugged off China restricting trade, the SEC's rejecting of the two bitcoin ETFs, and threats from developers to create a "hard fork" that would split the cryptocurrency in two.

...also from Business Insider:

JAMIE DIMON: There is a 'national catastrophe' and 'we should be ringing the alarm bells'

 



Currency

USD’s Likely Bottom

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Posted by PremPrzemyslaw Radomski - Sunshine Profits Profits

on Monday, 08 May 2017 09:28

The USD Index has been declining in the past several weeks (and in general in 2017). The question is if this weakness changed anything regarding USD’s long-term uptrend?

Let’s take a look at the charts (chart courtesy of http://stockcharts.com).

6

We don’t think so. Another very important long-term support level was reached last week (the 50-week moving average), which stopped the declines 3 times in 2015 and served as support and resistance on other occasions.



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