GSG Market Update – July 29, 2019 (copy 01)

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GSG Market Update

 

MarketWatch

July 29, 2019
 
Name Current Price 24h % 30d Vol 90d Vol 21d EMA 50d EMA
Bitcoin  $9,548.95 0.36% 106.28% 97.44% $10,288.574 $10,004.443
Ethereum  $210.74 0.64% 106.69% 99.54% $233.946 $246.592
XRP  $0.309 -0.16% 81.10% 97.99% $0.333 $0.358
Litecoin  $89.03 0.12% 116.36% 106.87% $98.834 $105.228
Bitcoin Cash $307.12 0.54% 118.62% 111.75% $329.313 $356.156
Binance Coin $27.29 -1.67% 97.83% 96.67% $29.757 $30.439
EOS  $4.21 -1.41% 120.84% 115.07% $4.638 $5.239
Bitcoin SV $146.220 -1.94% 146.27% 194.71% $163.152 $166.868
Stellar  $0.084 -0.68% 102.63% 101.60% $0.091 $0.101
Cardano  $0.059 -1.20% 107.64% 112.22% $0.064 $0.071

Notable Moves
Name Current Price Change (24h)
Bitcoin $9,548.95 0.36%
Bitcoin sees dip to $9100 and rebound to $9700 all within one hour

News

  • Bakkt eyeing Q3 launch pending approval from NYDFS, but exchange’s initial plans shows a guaranty fund that some say is too low to cover positions at risk. ICE-backed project is still waiting on approval to operate its Bakkt Warehouse, which would allow Bakkt to operate as a limited-purpose trust company. 
  • Abra announced changes for U.S. users due to regulatory uncertainty. All cryptocurrencies other than bitcoin, ether, litecoin and bitcoin cash will be migrated to a native hosted wallet solution. U.S. users will now no longer be eligible to hold QTUM, bitcoin gold, EOS, OmiseGO, and Status tokens after Aug. 29. 
  • Iranian government endorsed crypto mining as an industrial activity and noted that those involved should take required licenses from the Ministry of Industry, Mine and Trade.
  • Maker Foundation Interim Risk Team placed an Executive Vote into the voting system, which will enable the community to enact a new Dai Stability Fee of 18.5%. The Executive Vote will continue until the number of votes surpasses the total in favor of the previous Executive Vote.
  • Sergey Ivancheglo planned his resignation from the IOTA Foundation when the Alpha and Omega engineering teams were to be merged at the end of June. As planned Sergey submitted his resignation letter on the 26th of June and stepped down from the Board of Directors. 
  • Newcastle United said that StormGain, a cryptocurrency trading company, will be their sleeve sponsor for next season.

Upcoming Events

  • Jul 29 - Tether Case "Order to Show Cause" deadline for NY AG's office
  • Aug 6 - Litecoin Block Reward Halving (Coin reward decreases from 25 to 12.5 coins)
  • Aug 14 - SEC decision on Bitwise ETF
  • Aug 20 - Blockchain Summit Singapore 2019 (forthcoming)
  • Aug 30 - CME Bitcoin Futures Aug 2019 contract (BTCQ19) last trade date; settlement Sept 3
  • Sept 17 - Ethereum Classic Atlantis hard fork
  • Sept 27 - CME Bitcoin Futures Sep 2019 contract (BTCU19) last trade date; settlement Sept 30
  • Jan 3, 2020 - Ethereum 2.0 Launch (Phase Zero)
  • Nov 2020 - ZCash Halvening / Founders’ Reward set to expire

Charts

BTC Longs-Shorts

ETH Longs-Shorts

Market Cap Return


Sector Return

 

Twitter Daily

PlanB@100trillionUSD

#bitcoin bull markets seem to start at difficulty bottoms. We saw difficulty bottoms (miner capitulation) in Dec 2011 ($4.6), May 2015 ($230) and Dec 2018 ($3691). Price continues to rise from these bottoms until ATH around 100x .. implying a continuing uptrend until $370K ATH.
Image



Ran NeuNer@cryptomanran
The plot thickens; Sources in China say the Chinese government believed that @justinsuntron “promoting” the Warren Buffett lunch was a “provocative” act given current trade tensions. He has been told not to pursue the lunch. My source believes the lunch won’t happen at all.

Max Keiser@maxkeiser
Central Banks will struggle to find enough Gold to satisfy demand (even at $2,500 an Oz), so they will turn to #Bitcoin to fulfill their need for Hard Money. Will this be the catalyst that drives BTC to pomp’s $100k, 2021 target?
zerohedge@zerohedge
By Not Renewing The CBGA, Central Banks In Europe Are Ready To Buy Gold (link: https://www.zerohedge.com/news/2019-07-28/not-renewing-cbga-central-banks-europe-are-ready-buy-gold) zerohedge.com/news/2019-07-2…
dave the wave@davthewave

Long term 200 MWA [50 MMA] lining up with the logarithmic growth curve....

Back to the long term moving average, and then off to the races...

The above has the mania part of the bull run in 2021 [steeper rise]. This has the mania for 2022. My preference is for this second one...


DonAlt@CryptoDonAlt

$BTC weekly update: 2 weeks later and we've finally arrived at the outlined $9500 support. If this is a bull market pullback, this is where I'd expect it to bottom out. Good enough to take a chance. I've been big timeframe bearish since $11500, flipping neutral to bullish here.


Marc Principato@MarcPMarkets

Bitcoin: Double Bottom Off Major Support Points To 12Ks?  chart tradingview.com/chart/BTCUSD/W…



skew@skew_markets
COT report - still in risk reducing mode at the CME with open interest ticking down
Image

Widening
Image

Bitmex/CFTC one week on - outflows in BTC terms seem to have stabilized
Image

BitMEX Perp's liquidity actually the best it's been for a month despite the reported CFTC investigation concerns



Joseph Young@iamjosephyoung

A couple of whales moving the price of bitcoin 6~10 percent within a span of minutes is not a good look and hurts many investors. I reckon the emergence of better regulated trading venues would help in the long term but in the short term, I don't see this being addressed.



Mohit Sorout @singhsoro
$BTC During Phase II i.e steady uptrend of #Bitcoin's bull cycle, the blue band acts as support & minor corrections reverse from there. Price doesn't pull back that deep so often, but when it does... It's an exceptional #BTFD opportunity.
Image

Alistair Milne@alistairmilne

A couple more reasons to bullieve: - above 'holy moly' logarithmic trendline (green) - 3-day 'golden cross' imminent (last time was Jan 2016) charts.cointrader.pro/snapshot/jYccX 
 


This is more likely someone trying to get their bids filled than someone actually trying to sell 4000 BTC like an amateur

lowstrife @lowstrife

Mr. Whale is back on Binance with 4k btc


 


 
Willy Woo @woonomic

Stage 1 of the bull market is completing, once we bottom stage 2 begins promising the long sustainable bull drive that takes us through all of 2020 (if BTC continues its personality). Stage 1 was trader driven dominance squeezing us up and driving fomo. Fomo complete, stage set.

To Peter's points, institutional investors are already coming in, I do not believe they are suckers by virtue of needing to understand risk management. The data I see is that old hands (via UTXO age) are distributing coins over time, the capital inrush is more than enough.

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This update is provided for information purposes only and does not bind GSG Asset Management or any of its affiliates in any way. It is not, and is not intended to be, a/an: (1) “research report”, “investment research” or “independent research” as may be defined in applicable laws and regulations worldwide; (2) offer to sell, a solicitation of an offer to buy, or a recommendation for any digital asset by GSG Asset Management or any third party; or (3) official confirmation or official valuation of any transaction or asset mentioned herein. To the extent that any of the content published in this update may be deemed to be investment advice or recommendation in connection with a particular digital asset, such information is impersonal and not tailored to the investment needs of any specific person. Any pricing information is indicative only, and does not reflect a level where GSG Asset Management is prepared to execute a trade. You understand that an investment in any digital asset is subject to a number of risks, and that discussions of any digital assets in this update will not contain an exhaustive list or description of the relevant risk factors. GSG Asset Management is not an advisor, and nothing in this update should be construed as investment, tax, legal, accounting, regulatory or other advice, or as creating a fiduciary relationship. You alone are solely responsible for determining whether any investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation. All market prices, data, and other information (including that which may be derived from third party sources believed to be reliable) are not warranted as to completeness or accuracy, and are subject to change without notice. All content in the update is presented only as of the date published or indicated, and may be superseded by subsequent market events or for other reasons. GSG Asset Management disclaims any responsibility or liability to the fullest extent permitted by applicable law, whether in contract, tort (without limitation, negligence), equity, or otherwise, for any loss or damage arising from any reliance on or use of this update in any way.






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