While waiting for G20

[DaveJordan]

While investors are waiting for a closed meeting of finance ministers of the G20 countries on the issue of cryptocurrency, they sell their coins, as a result of which the market is declining, it is possible to consider in more detail what will be discussed at the meeting. There are reasons for this because today Minister of Finance Vopka Hestra sent a letter to the parliament of the country where, in general terms, outlined the issues that will be considered for regulating crypto-currency.
Their letter is that the exchanges and exchangers will not be closed, but subjected to debt procedures, the "ICO" market will probably be brought into compliance with the law on securities, and the crypto-currencies themselves will be equated to high-risk instruments.
Given this, you can expect that the G20 meeting will have a positive impact on the market and provoke active purchases.
While bitcoin -5.69% is trading in the red zone at 9 000.00 and today lost about 2.5%, due to negative investor sentiment and bad news on the market. On the other hand, the reason for selling is that many investors will prefer to sell bitcoin -5.69% , wait outside the market, and start buying when understanding comes after the G20. All this strengthens the idea of the proposed trading scenario, according to which the market will be adjusted and will give an opportunity to buy long-term at good prices. Within the framework of this week, one should expect a decline in the market and consider bybitcoin -5.69% the level of 7,800.00 - 8,000.00 how to support where the price may stop.

 

[CryptoTC]

While investors are waiting for a closed meeting of finance ministers of the G20 countries on the issue of cryptocurrency, they sell their coins, as a result of which the market is declining, it is possible to consider in more detail what will be discussed at the meeting.
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Please keep us up to date on these happenings. Thanks.

 

[The CC Forums]

Please keep us up to date on these happenings. Thanks.

It looks like there will be more focus on money laundering enforcement rather than general crypto regulations.

https://www.coindesk.com/mnuchin-talk-crypto-regulation-g20-summit/

 

[DaveJordan]

Today, the crypto-currency market is under strong pressure and we are seeing active sales by speculators, which are caused by panic-negative sentiment due to the recent bad news. Bitcoin -4.04% is already trading near the level of 8,500.00 USD. On the other hand, this is a good opportunity for large investors to enter the market on long-term long strategies and get good prices. This idea can be confirmed by volumes that are significantly higher than those that were earlier when Bitcoin -4.04% was at levels in the range of 10,000.00 - 11,800.00 USD.
If you look at the US stock index S & P500 -0.64% chart we will see that from the beginning of the year the market is at the same level. As for gold -0.04% , then with him the same story. This suggests that major investors are not very much interested in stocks and gold -0.04% .
On the other hand, you can look at 10-year and 30-year US government bonds and notice that the yield has increased since the beginning of the year, and this suggests that investors generally get rid of bonds. As a result, one can consider the option that large amounts of money now enter the crypto-currency market, and given that the crypto-currencies are now in a strong correction, this idea seems to be true, because everyone knows that large investors are entering the falling market. Comment: The same can be said about the results of yesterday's trading on the coin CREDITS ("CS"). Given that the negative sentiment on the crypto market has an impact on all altcoins, "CS" also felt the pressure of sellers and declined. But if we look more closely at the dynamics of the price, then we will see purchases for large volumes in times of price reduction, which is characterized as a strategy of buying by large investors.

 

[DaveJordan]

Thank you, please keep reading my articles.

 

[DaveJordan]

The panic after yesterday's news subsided and bitcoin 0.16% traded in a narrow range between 9500.00 and 10100.00. This strong impulse was triggered by news from the US and Japan where the regulators continue to take decisive action against the scope of the crypto market, as well as a report on the problem at the largest Binance exchange with their API and the manipulation of the price of one of the coins. It is worth noting that at these levels the price was at the end of last month, but the trading volumes were not so high. Yesterday, in the 4th hour, more than 400 million dollars worth of bitcoins 0.16% were traded, which can be considered a big figure if we consider the decline in popularity for bitcoin 0.16% and a strong decrease in the number of transactions. It is likely that the sellers were speculators once again frightened by the actions of the regulators, and buyers could become large investors who probably know more speculators. As a result, now the bitcoin 0.16% price is testing the support level of 9500.00 and it is likely to drop to 9200.00 but a further movement to the bottom is unlikely, so now it is worth trying to buy with a short stop-loss. Trades on CREDITS ("CS") were held in the range as before and the support level of 0.00080 - 0.00085 CS / ETH is still actual, from which the active purchases by bidders continue, which does not allow the price to decrease. An important fact, when the market fell after bad news, the price of "CS" fell slightly to 0.0008350 and immediately returned back to 0.00105 CS / ETH. In conditions of negative sentiment on the crypto market, coins "CS" still experience increased interest from investors, which can be seen by the increase of holders. At the time when the bitcoin was down on yesterday's trading session, the number of coin holders increased by more than 800 new ones. This is a good signal for a long strategy, because, according to technical analysis, there is a high probability that the market may recover back, which could lead to an increase in the price of "CS". The fall continues. It looks like a panic of speculators. But if everyone sells who buys?

 

[John1243]

Soon credits will release official video in order to explain all the controversial stuff

 

[DaveJordan]

Soon credits will release official video in order to explain all the controversial stuff

Yes, and moreover, that official video will prove claimed Alpha speed (200k-500k per sec). I'm also waiting for it. It should be released before 18th March.

 

[The CC Forums]

I’m hesitant to buy even at these levels. My gut tells me we’ve hit bottom based on all the negative sentiment on social media and in the mainstream press.

I’ve always been a contrarian. When everyone was asking how quickly can they get rich by buying some bitcoin, I sold some of my positions. Huge red flag. Now everyone has panic sold and will never buy bitcoin again. Some are declaring the run was a one time event that can never happen again.

That’s a gut feeling buy signal to me.

 

[The CC Forums]

Great analysis. As I said in some other posts, we have yet to see the influence of the new ETH and Ripple funds from Grayscale, and institutions will begin moving in sometime this spring or summer.

This time last year was a great buying opportunity. March 2018 may yet prove to be the same.

 

[CryptoTC]

I’m hesitant to buy even at these levels. My gut tells me we’ve hit bottom based on all the negative sentiment on social media and in the mainstream press.

I’ve always been a contrarian. When everyone was asking how quickly can they get rich by buying some bitcoin, I sold some of my positions. Huge red flag. Now everyone has panic sold and will never buy bitcoin again. Some are declaring the run was a one time event that can never happen again.

That’s a gut feeling buy signal to me.

Good points. And good analysis in the OP.

You’ve got to believe a good run is coming after the casual money is shaken out. It just takes a little spark, I think. Account holders have continued to pour into the exchanges. Now they are set up, verified and ready to go. A few positive moves and some good news may be all it takes to set off an even bigger run than at the end of 2017. Everyone was screaming about account verification taking forever and they couldn’t buy fast enough.

Now they are ready to go. We just need that trigger news or event...

 

[The CC Forums]

Good points. And good analysis in the OP.

You’ve got to believe a good run is coming after the casual money is shaken out. It just takes a little spark, I think. Account holders have continued to pour into the exchanges. Now they are set up, verified and ready to go. A few positive moves and some good news may be all it takes to set off an even bigger run than at the end of 2017. Everyone was screaming about account verification taking forever and they couldn’t buy fast enough.

Now they are ready to go. We just need that trigger news or event...

I can’t bring my optimism level up enough to pour more money in at this point.

I don’t know what my exact trigger is. I don’t know what price causes me to start buying again. Some bargains out there but the market can still go lower.

 

[Old Man Crypto]

The bad news has to stop sometime, right?

Why not now? Tax season maybe, or all the regulations talk too.

 

[Will crypto]

Yes, and moreover, that official video will prove claimed Alpha speed (200k-500k per sec). I'm also waiting for it. It should be released before 18th March.

I think people are crazy about recent cs news, investors can't wait to see updates on alpha, while credits' telegram is stuffed with such people who are always asking "when beta?" Even I got more tokens due to this low price.

 

[DaveJordan]

Yesterday there were parliamentary hearings on the crypto-currency in the US, which was organized by the Securities Commission. It is worth noting that decisions on concrete actions were not taken and the opinions of politicians differ, some politicians consider crypto-currencies to be a “dummy”, others argue that “crypto-currencies should be carefully studied.” Also, the head of the International Fund Christine Lagarde called for a more rigid regulation of the crypto-currency sector. So far, all comes down to the comments of politicians and the market continues to decline amid negative investor sentiment. For yesterday, bitcoin again updated its local lows and reached the level of 7665.1 after it returned above the strong support level of 8000 and is currently trading in the range of 7800.00–8400.00. Now the trades are mostly on speculative strategies and it is worth considering the scenario in which if the price can pass below the level of 7800.00 then the stop loss order will start and we will see further downward movement.

Coin CREDITS (“CS”) yesterday found support for buyers at 0.00067 CS / ETH and is currently trading above these levels. According to the data on the contract “CS”, for yesterday, the number of holders of coins increased by 2152 and the volume of transactions amounted to 9.8 million coins for the day against 4.9 average. An important event yesterday was the participation of CREDITS (“CS”) at the 4th Annual Block Сhain Finance & Fin-tech China in Shanghai, where CEO & Founder Igor Chugunov has presented opportunities and advantages of platform of CREDITS. Now the coin is worth 0.00072 CS / ETH and is still in demand by investors, a large volume of bids is in the range 0.00067–0.0007 CS / ETH.

 

[The CC Forums]

I’ve merged multiple threads into this one.

Let be careful with the attempts at shilling the project mentioned in the posts.

The TA discussion is encouraged. Using it as a platform to get marketing out there for a product isn’t. One of the fundamental reasons we started this site was to get away from the Reddit and bitcointalk constant hype and shilling posts.

More focus on the investing components of crypto markets directed at investors experienced in other arenas but maybe new to crypto. Shilling even in the form of market reports will end up getting moved to the product announcements section.

 

[CryptoTC]

I see your point but the analysis part of these posts is very helpful.

I’m hoping that the OP will still keep up the posting of short term outlooks at least.

OP: keep posting but maybe keep the info broad and not include the product mentioned in every post? Thanks.

 

[CryptoTC]

.

Let be careful with the attempts at shilling the project mentioned in the posts.

I have another thought. Maybe the OP could post the analysis here and get a thread in the altcoin section?

Is that allowable?