https://v.redd.it/l3wcyatrg2051
Thursday, May 21, 2020
What is Bitcoin? - We prepared a video guide to understand Bitcoin. Hope you enjoy it! (x-post from /r/Bitcoin)
https://www.reddit.com/r/Bitcoin/comments/gns1sh/what_is_bitcoin_we_prepared_a_video_guide_to/
MODERNA’S ANNOUNCEMENT, GOOD OR BAD FOR BITCOIN?
#Be_a_Trader!
Greetings from MCS, the derivatives trading platform where traders ALWAYS come first.
The recent announcement from Moderna, a US pharmaceutical company, changed the mood in the stock market. The announcement was about the result of the early trial of its COVID-19 vaccine stating that all 45 patients produced antibodies that could help to fight the pandemic. Obviously, the stock market soared and began its week with great figures. As of 9:46 am on May 18th (EST) at NYSE, DOW30 went up by 3.15%, S&P 500 by 2.7%, and Nasdaq by 2.1% compared to the market on the last Friday.
NOW, HOW WILL THIS WONDERFUL NEWS AFFECT THE PRICE OF BITCOIN?
Since everything in the world now is centered around the COVID-19, we can assume this news will influence the price of Bitcoin. Let us look at the graph below that shows the trend in COVID-19 cases around the world and the price of Bitcoin from January 22nd to May 16th, and figure out what may happen in the upcoming days and what we should do in preparation.
[Source: Worldometers, TradingView]
![[Source: Worldometers, TradingView]](https://preview.redd.it/ck5vscwje2051.png?width=1280&format=png&auto=webp&s=b23c486a9339cc3ee65df8f2f51b8816d4e341fd){kind=link}
In the beginning, the cases of COVID-19 infection went up slowly. (p.s. Not many countries were actively testing their people back then). At the same time, the price of Bitcoin showed an interesting upward trend and even breached the $10,000 level. According to Edward Moya, a senior market analyst at OANDA, one of the reasons behind the price soar was because of people’s ‘belief’ that the spread was something that will end in the first quarter. Also, Michael Sonnenshein, a managing director at Grayscale Investments, saw Bitcoin as a store of value.
However, everything changed on March 12th. The Bitcoin price plunged by almost $4,000 in one day and the COVID-19 cases began to rise more rapidly. Why March 12th? What caused this to happen? One day earlier, on March 11th, the World Health Organization declared the COVID-19 a “pandemic”. The world realized that the virus will be a threat for a long time. Many people began to liquidate Bitcoins they owned into tangible assets like gold.
Moreover, traders went for short selling in various cryptocurrency derivatives exchanges causing the price to plummet. The world and the Bitcoin market were both in fear.
Nevertheless, some traders saw this as an opportunity to get more Bitcoin in their wallets. On the very same day when the Bitcoin price dropped, $1.3 billion in fiat and cryptocurrency were deposited onto Coinbase which was five times the typical average. The new signups were doubled, the active users were tripled, and the trade volume was sextupled.
It is time to get back to the story of Moderna. Like the event on March 12th, the news from Moderna will definitely have an impact on the Bitcoin price. There is a perspective that the price will go down as the stock market becomes more active and the trust in the country and the system goes up. Concurrently, another perspective believes that since the vaccine is still in an early stage, it will not be enough to offset the upward trending force of Bitcoin.
No matter what direction the price takes, we must understand that the time we live in is not stable. Every day, we should anticipate some volatility in the Bitcoin market, and we must prepare ourselves wisely. Using cryptocurrency derivatives exchanges such as MCS (MyCoinStory.com) is a good investment diversification strategy you can take.
Finding a vaccine certainly is great news and let us make it even greater by profiting in the volatile Bitcoin market.
Traders ALWAYS come first on MCS
Thank you.
MCS Website: https://mycoinstory.com/
MCS Official Twitter: https://twitter.com/mycoinstory_mcs
MCS Official Facebook: https://www.facebook.com/MyCoinStory.official
MCS Telegram Chat: https://t.me/mycoinstory_EN
MCS Official Blog : https://blog.mycoinstory.com
Wednesday, May 20, 2020
No, ISIS Does Not Have $300M in a Bitcoin War Chest (current BTC/USD price is $9,483.62)
Latest Bitcoin News:
No, ISIS Does Not Have $300M in a Bitcoin War Chest
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
[Daily Discussion] Thursday, May 21, 2020
Thread topics include, but are not limited to:
- General discussion related to the day's events
- Technical analysis, trading ideas & strategies
- Quick questions that do not warrant a separate post
Thread guidelines:
- Be excellent to each other.
- Do not make posts outside of the daily thread for the topics mentioned above.
Other ways to interact:
- Get an invite to live chat on our Slack group
- Set your flair to trade pretend money in the Flair Game
- Weekly threads: Newbie Mondays and Fundamentals Fridays
- Altcoins Discussion: Altcoin Discussion
[Altcoin Discussion] Thursday, May 21, 2020
Thread topics include, but are not limited to:
- Discussion related to recent events
- Technical analysis, trading ideas & strategies
- General questions about altcoins
Thread guidelines:
- Be excellent to each other.
- All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
- This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
- No discussion about specific ICOs. Established coins only.
If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.
Other ways to interact:
- Get an invite to live chat on our Slack group and check out the #altcoins channel
- Daily Discussion for bitcoin only: Daily Discussion
- Prior Altcoin Discussion: Altcoin Discussion
For Trading May 21
DJIA Regains Losses
First 20-year Bond Auction since 1986
Today’s market was stronger, and we started up on the day and never looked back. The DJIA finished +369.04 (1.53%), NASDAQ +190.68 (2.08%), S&P 500 +48.67 (2.05%), the Russell +39.21 (3.0%). Market internals were positive with NYSE 2.5:1 and NASDAQ 2.4:1) with lower volume again. DJIA WAS 24 UP / 6 DOWN, with the biggest winners. The biggest winners were AAPL +41, DIS +39, V +30, MCD +29, CAT +25, GS +24 and CVX +23DPs, with no double-digit losers.
The Treasury brought back the 20-Yr. Bond auction for the first time since 1986, and it was greeted by a “Bid to Cover” of 2.5:1. This would be as if an IPO was coming with 10 million shares and that there were public orders for 25 million shares. It was received better than expected and prices remained stable to higher for the rest of the day. This was bullish for our position in the TLT call position we own.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 1900 members. I also did this video titled “How to survive being an options trader and not blow up your account,” over the long weekend. I think it’s very informative as a guide to stock selection and option choices. The link is https://youtu.be/Y7H9RpWfLlo Enjoy!!
Tonight’s closing comment video https://youtu.be/6GnGjBQpaKg
SECTORS: The news was pretty scarce this morning and the market didn’t seem to need any excuses to move higher. The early morning earnings from TGT and LOW didn’t do much to help or harm the overall market. TGT and LOW were well withing expectations and slightly positive, but they went in opposite directions. TGT ended -3.52 (2.86%) while LOW traded higher by almost $6 at $122.69 but finished down at $116.99 +.12. The sector that got the most attention came to light in the afternoon when it was announced that there were many of the Chinese companies that have raised money here and trade on our exchanges do not meet either our listing requirements or our accounting standards. BABA and BIDU, both up dramatically this week on solid earnings got caught in the hoopla and fell well off their highs and closed basically unchanged.
FOOD SUPPLY: was MIXED with TSN +2.14, BGS -.69, FLO -.44, CAG -.31, MDLZ -.04, KHC +.41, CALM +1.04, JJSF +2.79, SAFM +2.69, LANC -.23, GO -.57, and PBJ $30.94 +.22 (.72%).
BIOPHARMA was HIGHER with BIIB -.55, ABBV -.14, REGN +19.29, ISRG +21.31, GILD +.96, MYL +.22, TEVA +.09, VRTX +2.34, BHC +.47, INCY +3.40, ICPT +5.40, LABU +4.01, and IBB $133.50 +2.29 (1,75%). CANNABIS: This group was HIGHER with TLRY +.03, CGC +.10, CRON +.08, GWPH +3.55, ACB +2.00 on the news of their acquisition for stock of the CBD product company, Reliva, for $40million in stock. MJ was $13.24 +.58 (4.58%).
DEFENSE: was MIXED with LMT -7.48, GD +1.71, TXT +.84, NOC -6.03, BWXT -.18, TDY +5.17, RTX +.06, and ITA $150.07 +.93 (.62%).
RETAIL was LOWER with the brands higher. M -.03, JWN -.63, KSS -.58, DDS +1.00, WMT +.50, TGT -3.52, TJX +.44, RL +2.14, UAA +.44, LULU +7.99, TPR +.40, CPRI +.55 and XRT $38.24 +.20 (.53%).
FAANG and Big Cap: were HIGHER with GOOGL +34.76, AMZN +52.66, AAPL +6.02, FB +14.92, NFLX -2.84, NVDA +9.03, TSLA +6.50, BABA -.23, BIDU -1.23, CMG +25.92, CAT +3.45, BA +3.05, DIS +5.40 and XLK $97.50 +2.09 (2.19%).
FINANCIALS were HIGHER with GS +3.62, JPM +2.53, BAC +.68, MS +1.52, C +1.07, PNC +3.84, AIG +.41, TRV +2.27, AXP +3.34, V +4.54, and XLF 22.07 +.48 (2.22%).
OIL, $33.49 +1.53. Oil was higher today with the close right on the falling 50-day moving average. I thought that the most recent downside break occurred from just under $29.00 and may stop this move too, but as we saw, it went right through that level. All the stocks on my list were lower with XLE $39.35 +1.51 (3.99%).
METALS, GOLD: $1,752.10 +6.50. After breaking the downtrend line around $1727 we came all the way back to test it this morning, before we continued higher and closing strong.
BITCOIN: closed $9,570 -110. After breaking out over $7500 we have moved as high as just over $10,000 before gapping down overnight to trade as low as $8,400 earlier this week. We continue to recover higher prices and today broke above the $10030 close from which we gapped down on Monday. We added 350 shares of GBTC Wednesday @ $10.02 to our position of 400 @ $8.06, bringing our average price to $8.97. GBTC closed $11.23 -.15 today.
Tomorrow is another day.
CAM
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