EUR/USD 1.15579
-0.259%
Gold 4501.57
-3.165%
Oil 96.968
2.893%
USD/JPY 159.297
0.997%
GBP/USD 1.33332
-0.723%
GBP/JPY 212.398
0.318%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On March 22, local time, Israeli Prime Minister Benjamin Netanyahu stated in the southern city of Arad that Israel is responding to Iranian attacks, but not targeting civilians. Netanyahu indicated that Israels targets are the current Iranian regime and the Islamic Revolutionary Guard Corps (IRGC), and the Israeli military will directly strike the IRGCs leaders, as well as their infrastructure and economic assets.On March 22, He Lifeng, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, met with a delegation from the US-China Business Council in Beijing. He Lifeng stated that the China-US relationship is the most important bilateral relationship in the world today. He expressed hope that the US-China Business Council would continue to play its role as a bridge, promoting friendly exchanges and the steady and healthy development of China-US economic and trade relations. He also hoped that American companies would fully seize the opportunities presented by Chinas development, make good use of the potential of the Chinese market, and inject more stability and positive energy into China-US economic and trade relations.On March 22, Australian Climate Change and Energy Minister Chris Bowen announced that six fuel ships scheduled to arrive in Australia next month have had their voyages cancelled or postponed due to the Middle East conflict. In an interview with the Australian Broadcasting Corporation (ABC), Bowen stated that the six ships, originating from Malaysia, Singapore, and South Korea, were originally scheduled to arrive next month. He said that against the backdrop of the Middle East conflict, Australias fuel supply will experience "some fluctuations," and the government will "work with refiners and importers to mitigate the impact as much as possible." Bowen also stated that Australias current fuel reserves are slightly higher than pre-crisis levels, with gasoline reserves estimated at approximately 38 days and diesel and jet fuel reserves at approximately 30 days. Bowen ruled out the possibility of implementing fuel rationing measures in the short term.Israeli Prime Minister Netanyahu: Its time to get other world leaders into our war.Israeli Prime Minister Netanyahu: US President Trump wants the international community to confront the Iranian regime.

Bitcoin Completes Consolidation in a Triangle

Jimmy Khan

Oct 19, 2022 15:56

微信截图_20221019141241.png

Market Image

At the time of writing, the price of bitcoin is $19,550, up 1.4% over the previous day. The day before, U.S. stock indexes had taken a significant jump forward, and by the opening of European trade, index futures were consolidating their gains. The demand for crypto assets is supported by a strong stock market background, although overall changes are exceptionally muted.


Since June, the price of bitcoin has moved at the right angle to a triangle formed by a descending resistance line, a horizontal support of $18,800, and a rising support line. Usually, a rise in volatility on the way outside the range solves this problem.


Not sooner than the break of the prior highs at $20.4K or the failure beneath $18K, with the second variation having a higher likelihood, should be watched for confirmation of the break of the long-term consolidation. However, it should be noted that the BTCUSD downturn has lasted about a year, wiping off more than 70% of the high price and making long-term purchasers more interested.


After a modest outflow the week before, CoinShares reports that investments in cryptocurrency funds somewhat increased last week. Total money coming in was $12 million. Investments in Bitcoin rose by $9 million, while those in Ethereum fell by $4 million. $7 million more was invested in funds that support bitcoin shorting. Investor apathy persists; according to CoinShares, flows over the previous five weeks have barely topped 0.05% of assets managed.

News context

The connection between Bitcoin and conventional risk assets may be severed. According to LookIntoBitcoin, this may occur as a result of investors realizing that governments and fiat currencies provide the majority of hazards. According to prior cycles of investor capitulation, the time is right now for tactical BTC purchases.


Rich investors still prefer to invest in digital assets, according to GlobalData's global poll of asset managers. Additionally, they are ready to assume the greatest amount of risk since cryptocurrencies only make up 1.4% of their portfolios.


The local authorities have granted French investment bank Société Générale's subsidiary authorization to store, purchase, trade, and exchange bitcoins.


A new Coincub research claims that in the third quarter of 2022, Germany overtook Switzerland, Australia, the United Arab Emirates, and Singapore to claim the title of nation most conducive to operating a cryptocurrency company. Due to its unfavorable tax laws and hazy crypto regulation, the US dropped from first to seventh rank.

Suggestion