Bitcoin Trading

Bitcoin Trading – The Ultimate Guide
Bitcoin
Ultimate guide to Bitcoin
Bitcoin Trading – The Ultimate Guide
Written by: David Waring
Detailed explanation of bitcoin and how it is traded
5 / 5 stars





At the time when this guide was written, January 2014, the price of one bitcoin stood at $913, down slightly after reaching an all-time high of over $1,200 earlier in December. The new cryptocurrency came a long way from trading below $4 just two years ago. Major online and offline retailers are starting to add the new currency as a payment method. But what exactly is bitcoin?

According to a recent Bloomberg poll, only 42 percent of Americans correctly identified bitcoin as a virtual currency. Six percent thought it was an iPhone app.

Bitcoin is a peer-to-peer digital currency launched in 2009 by ‘’Satoshi Nakamoto’’. Satoshi worked on the project alone for 2 years before releasing the code to the public. He disappeared shortly after creating the cryptocurrency, but before leaving he posted the now infamous quote:

‘’It might make sense just to get some in case it catches on’’

Satoshi Nakamoto, January 17th, 2009.

What’s so special about Bitcoin?
Bitcoin is a cryptocurrency and a new and unique financial vehicle, unlike anything the world has ever seen. It’s called a cryptocurrency because it uses cryptography to control the creation and transfer of money. Despite the name, there is no physical coin to speak of, Bitcoin is a completely electronic form of money.

Bitcoin solves the so called ‘’double spending problem’’ present with digital goods. For example, if I have an mp3 file or an ebook on my computer, I can freely copy that file a thousand times and send it to a thousand different people. For a digital currency, the possibility for unlimited copying would mean a quick hyperinflationary death. Bitcoin solves this by maintaining a peer to peer network and recording each transaction in a public ledger called the block chain. Say I send 1 bitcoin from my bitcoin address to my friend John. The bitcoin network records that transaction in the block chain and I no longer have possession of that bitcoin. The coin ‘’moved’’ from my bitcoin wallet to John’s wallet.

What’s so special about Bitcoin? There are many arguments on whether the new virtual currency will succeed or fail. We will not get into this nor discuss the politics behind the project. Our concern is strictly with the profit opportunities provided by this new payment phenomenon. In the next few pages on the new digital currency we will outline our thoughts from the perspective of a trader and a potential investor in this upcoming market.

Bitcoin Bounces

Bitcoin Bounces at $250 Dollars
By Fx Livermore on June 28, 2015 11:59:21 GMT
Want to Trade Bitcoin? Forex News Recommends Click Here To Learn More.
Bitcoin bounced at the $250 dollars mark, twice. The first attempt to break higher came in the early part of today’s trading session. Prices traded as high as $249.97 before falling back to a low of $247.03.








 Around mid-day the second attempt saw BTC/USD rally to $249.95 before eventually closing the day at $246 dollars per coin. We are currently quoted not far from the close at $246.67 dollars.
On OKCoin the bounce happened at $251.36. From here on out, bitcoin slowly lost ground all day. Prices are currently trading at $248.21 on the spot exchange. Meanwhile futures maintain the $8 dollars premium. The far out September 25th contract is quoting $256.01 while he nearer July 3rd contract is at $251.39 dollars per coin. To avoid repetition, read our yesterday article for the levels we’re watching.
With the Greek drama entering its final act, we will finally have a chance to see if capital controls will trigger a bitcoin rally, Cyprus style. As we reported few days ago, major media outlets have tried to tie these two events, implying that Greeks are converting their savings to to bitcoin. This was claimed despite evidence to the contrary, with bitcoin exchanges reporting little or no traffic increase from Greece.
Over the weekend a series of events lead to capital controls in Greece. First the Greek prime-minister called a referendum on the bailout offer for July 5th. Then the ECB halted the ELA funding for Greek banks, in essence pulling the plug on the banking sector. In the current situation of massive withdrawals, this means that Greek banks will come up short when depositors ask for their money. To prevent a bank run, the government instituted capital controls.
So far bitcoin has failed to rally much on the Greek news. But we should give it some time as cryptocurrency markets can be slower to absorb and price in news. If BTC fails to rally, this should finally put this myth to rest. But even if bitcoin rallies, the reason will probably not be Greeks buying BTC but bitcoiners themselves. The short history of bitcoin has shown it to be immune of capital controls. After a long 18-month period of mostly red ink, the Greek saga may act as a reminder to the benefits of bitcoin, a currency free of government control.
Get our free guide to bitcoin trading here.

Top trade

Top trade idea for June 26th, 2015 – EUR/USD

By Michael McCarthy on Jun 26, 2015 03:56:09 GMT





On Monday, this blog piece laid out a strategy to go triple short EUR/USD. A key part of my overall strategy is identifying higher reward to risk ratios, and this set up ticks the box, with each entry risking between 50 and 100 points against potential gains of 500 to 900 points. The triple short has triggered on all three entries, in my view lifting the probability of a successful trade. And the good news is the price action since gives clear entry and stop levels for traders looking to join the action.

There is little possibility of a clean solution to Greece’s woes. More likely is a typically European approach; a temporary fix, with the promise of more talkfests and a shift in market focus to the next deadline – the ECB payment due on 20 July. By then, it’s entirely possible global markets will have tired of this sideshow, given its economic irrelevance.

In my view, yesterday’s stronger than expected consumer data is pointing the way for the next few weeks. A strengthening US economy could amp up rate rise expectations, and the USD. At the same time, Europe will be parading its weak fiscal credentials, possibly dragging on the EUR. This lines up
I’m now triple short, entering at 1.1370 with a stop at 1.1465, on the breach of the uptrend at 1.1295 (stop 1.1355) and on the breach of the parabolic SAR at 1.1199 (stop 1.1268). Targets for this trade are 1.0820 (two thirds) and 1.0520 (one third).

However, proving there is no justice in markets, a bottom-feeding lobster with average intelligence could join this trade now that the triple signal has flashed. The last three trading days described a high at 1.1235 against the big candle low at 1.1135. The lobster double sells at 1.1125, with a stop above 1.1240 and targets at 1.0820 and 1.0520