This week was yet another roller-coaster free ride for all crypto holders with Bitcoin, rapidly fluctuating from $6500 to $5985 and holding at $6480 at the moment of writing.
Let’s recap on what was going on during the previous seven days:
– There was a dash of BTC selling FUD related to ASIC Manufacturer, Bitmain, one of the largest bitcoin holders and more speculations about the company’s upcoming IPO. Their possessions in BTC have been decreasing for the past two years from 92 650 BTC in July 2016, with their known bitcoin address showing they now have only 7,032 BTC, as of August the 17th, 2018.
– How not to mention some juicy headlines about Barclays, one of the largest banks in the UK trying to figure out what it means when people who supposed to be working on digital assets suddenly change their LinkedIn profile descriptions and how to react when the bank’s spokesperson claims that organization had no plans to launch a digital currency trading desk.
– Later on, some massive positive news related to Square and its mobile payment product – Cash App – rolling out bitcoin support to all 50 US stated. The Cash App allowed users to make bitcoin transactions starting in January, but states with more strict cryptocurrencies regulations (including Georgia, New York, Wyoming, and Hawaii) were not covered till now.
- Overall sentiment based on all ideas published on TradingView within the course of the last 7 days: 55% of traders on the platform are bullish and 45% are bearish. Amongst the top 10 bitcoin traders, the ratio is 85% bullish, 15% bearish.
- One of the most viewed ideas of the week (see the chart below) – even too bullish – $1 mln by August 2019. Let’s wait and see, fingers crossed.