Bitcoin 

Long Bitcoin, Bullish on Altcoins – XLM, VET, ONE

Altcoins have been inching their way deeper into my trading routine and this seventh entry of the crypto trading journal features a newly opened position on VeChain (VET), as well as a timely buy of Stellar Lumens (XLM). I am still long on Bitcoin (BTC) from under $9,000, as price moves sideways. XLM/BTC Part 1: Setting up the trade Entries: .00000800 satoshis (sats), .00000870(sats), .00000797 (sats) Targets: 0.00000940 (sats), .00001044 (sats) Stop loss: The first stop loss was set at .00000781 (sats) on the breakout. As usual, I move this…

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Bitcoin 

Long From $7.3K, Expecting Lower BTC Price

In my fifth journal entry, I provide updates on my previous Bitcoin (BTC) position, highlight a new BTC position, and discuss a recent altcoin trade on Ankr Network (ANKR).  BTC/USD Setting up the trade Entries: $7,940, $7,900 Targets: $8,395, $8,949, $9,723 Stop loss: I set the stop loss at $7,834 which is below the ascending channel support with a bit of breathing room to avoid a long wick or shake out. I eventually moved it down to $7,797 before moving it again to $7,878. I will also provide a deeper…

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Bitcoin 

Institutional Long Positions Value Doubled In October

One class of investors has more than doubled the value of the long positions it holds in Bitcoin (BTC) futures contracts this month.  Institutions settle in for the long term According to fresh data from analyst Skew Markets on Oct. 22, the value of institutional investors’ long positions went from below 500 BTC ($4.11 million) on Oct. 1 to over 1,000 BTC ($8.23 million) on Oct. 16. The gains reverse a decline in institutional longs from September. The launch of Bitcoin futures from Bakkt coincided with open interest falling from…

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Bitcoin 

Losing Small Is Key To Long Term Success

In my fourth trade journal, I am updating my previous Bitcoin (BTC) position as well as discussing the reasons that I have reentered a new long position on the same asset. I am also highlighting a quick loss on Ravencoin (RVN), which dropped alongside Bitcoin. As I often say, this loss is proof that you win some and you lose some. What matters is that you lose small. BTC/USD As mentioned previously, I took a swing position in Bitcoin on Sept. 26 at $7,914. I exited 50% of the trade…

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Bitcoin 

Repo Market Meltdown Shows Bitcoin’s ‘Systemic’ Stability: Caitlin Long

Wyoming Blockchain Coalition president Caitlin Long has responded to the recent unrest in the money markets by analyzing the systemic fragility of the traditional financial sector as compared with Bitcoin (BTC). In a Medium blog post published on Sept. 25, Long made the argument that “at a systemic level, the traditional financial system is as fragile as Bitcoin is antifragile.” Damage “control” Writing in the wake of last week’s weakness in the repo markets — which prompted the Federal Reserve to temporarily inject $75 billion in cash to keep rates…

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Cryptocurrency 

UK Crypto Regulation Is Changing, Recognition Looming at Long Last

The United Kingdom has long been a financial mecca. Ever since the Big Bang and the arrival of Thatcherism in the ‘80s, Britain has cultivated a finance-friendly environment revolving around the city of London, with deregulation inviting a wave of foreign investment and trading activity. However, while it has even been suggested that London will overtake San Francisco as the fintech unicorn capital of the world, the U.K. has been less welcoming of crypto than it has of traditional finance. As industry bodies like CryptoUK as well as other commentators have…

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Bitcoin 

CFTC Policymaker With Long History of Work on BTC Futures Leaving

Amir Zaidi, the director of the United States Commodity Futures Trading Commission’s (CFTC’s) Division of Market Oversight (DMO) is rumored to be leaving the CFTC within weeks. Multiple anonymous sources aware of the situation have confirmed this claim, according to a report by Bloomberg Law on Aug. 8.  Zaidi has been the director of the CFTC’s DMO since January 2017. He is acknowledged as being responsible for creating Bitcoin (BTC) futures trading policy, as well as rewriting market regulations for over-the-counter swaps. One source added that former DMO director Vincent…

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Bitcoin 

Bitcoin and XRP Aren’t Competitors — I’m Long BTC

Bitcoin (BTC), and XRP, the third biggest coin by market cap, are not competitors, Ripple CEO Brad Garlinghouse claimed in a Fortune interview on June 20. In the interview, Garlinghouse outlined the key difference of two major cryptocurrencies, arguing that bitcoin is a store of value or “digital gold,” while XRP is a “bridge currency” that enables an efficient solution for fiat-to-fiat transfers. As such, Garlinghouse cited the difference between bitcoin and XRP in terms of transactions costs, claiming that Ripple can do a transaction for a tiny fraction of…

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