This information is made available for informational purposes only. Information presented by FXP should be construed as market commentary, merely observing economical, political and market conditions. residents or individuals domiciled in the U.S. Any and all information provided by FXP is not intended for use by U.S. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.įX Publications Inc., abbreviated herein as FXP, (d.b.a DailyFX) is no longer a registered Introducing Broker with the Commodity Futures Trading Commission and is no longer a Member of the National Futures Association in the U.S. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. To contact Nick, email him at Nick on Twitter provides forex news and technical analysis on the trends that influence the global currency markets. If you are interested in trading digital pairs and would like to practice trading either BTC or ETH, you can create a Quick and Free Demo Account Here Market Moves /Top 8 Capitalizations – December 6, 2017 The combination of current sentiment and recent changes gives us a further mixed Bitcoin trading bias. ![]() Positioning is less net-long than yesterday but more net-long from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Bitcoin prices may continue to fall. The number of traders net-long is 7.9% higher than yesterday and 30.2% higher from last week, while the number of traders net-short is 17.7% higher than yesterday and 15.8% higher from last week. IG Client Sentiment data show 68.6% of traders are net-long of Bitcoin with the ratio of traders long to short at 2.19 to 1. IOTA Chart: (IOTA) Daily Timeframe (November 20 – December 6, 2017) IOTA enables companies to explore new business-to-business models by making every technological resource a potential service to be traded on an open market in real time with no fees.” IOTA add that as the Internet of Things keep expanding “the need for interoperability and sharing of resources become a necessity. The main innovation behind IOTA is Tangle, a new block less distributed ledger which is scalable, lightweight and for the first time ever makes it possible to transfer value without any fees, according to the company’s website. ![]() The latest altcoin to produce headlines is IOTA, soaring from $0.36 to $5.60 in one month, making it now the fourth-largest altcoin by market cap. ![]() The recent break-out from the upward channel points to further highs but caution is warranted as any breakdown from these levels - and 25%+ falls are commonplace - could see prices quickly back below $10,000 or lower as loose holders exit the market.īitcoin Chart: (BTC) Daily Timeframe (August 1 – December 6, 2017)Īltcoin IOTA Continues to Soar on the Internet of Things The chart below shows BTC up for seven days in a row and over 120% higher than the recent low made on November 12. We will be discussing all things Bitcoin, Ethereum, IOTA and various other crypto-currencies at our weekly webinar today at 12:00pm. The latest surge in Bitcoin boosted the total crypto-currency market capitalization to in excess of $373 billion, up from $18 billion at the start of the year. While the top two currencies by Bitcoin volume were USD and KRW, another crypto-currency coin, IOTA, also printed record turnover. The Bitcoin rally continues unabated, breaking through the $12,000 barrier overnight, with trading volume hitting in excess of $9 billion in the last 24 hours. The DailyFX Bitcoin Glossary is designed to provide traders with a reference for important terms and concepts essential for understanding the emerging cryptocurrency universe.īitcoin (BTC) : Breaks the $12,000 Barrier IOTA price goes parabolic, up 200% this week. Bitcoin surge pushes market capitalization to a new record.
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