By Ana Balashova (@coinjive)
November 3rd, 2018

Bitcoin’s birthday party: bulls are celebrating

Weekly crypto sentiment brain-powered by the most authoritative experts from the trading network.

The previous week was bubbling with bitcoin-related news, including the announcement about Bakkt’s crypto trading platform upcoming December, the start of pre-orders of the first blockchain-enabled cell phone – HTC Phone Exodus 1 and the arrest of Indian Crypto Exchange co-founder for setting up ‘Illegal’ Bitcoin ATM in Bangalore. Let’s remember the major newsbreaks of this week:

  • Most of the news covering bitcoin during this week were related to cryptocurrency’s birthday – 10 years ago a mysterious person going by the fictitious name Satoshi Nakamoto released a paper, saying how his new money would work.
  • At the beginning of the week, announcements on $8 billion Coinbase evaluation were circulating all over again.
  • Later on, speculations on bitcoin’s role in global warming were the hottest topic. It was calculated that Bitcoin mining emitted 69 million metric tonnes of CO2 in 2017. And if it will keep going like that its cumulative emissions will be enough to warm the planet above two degrees Celsius in just 22 years.
  • Another important newsbreak of the week is the fact of issuing a virtual currency license for Bitcoin ATM operator Coinsource by the New York State Department of Financial Services (NYDFS). This approval is an important step in implementing strong regulatory safeguards while encouraging the growth of crypto.
  • Overall sentiment based on all ideas published on TradingView within the course of the last seven days was as follows: 62% of traders on the platform were bullish, and 38% were bearish. 81,8% bullish, 18,2% bearish is the ratio among the top 10 Bitcoin traders.  That’s slightly more positive compared to the previous week when 80% of top traders were bullish.
  • TradingView user disobey shared one of the most popular Bitcoin ideas of the week: hilarious outlook of how #crypto #market ecosystem works and we thought you might like it. Check more details on the chart below or here: