Weekly crypto sentiment brain-powered by the most authoritative experts from the trading network.
The previous week was saturated with big announcements for Bitcoin: some of them were terrible, some even worse. Including the layoffs announcement made by one of the oldest crypto exchange in the UK and the sudden crypto crash caused by the fact that Bitfinex, Hong Kong-operated exchange, has “temporarily paused” Fiat Deposits. Let’s remember the notable newsbreaks for bitcoin that happened during this week:
- At the beginning of the week, the announcement from Fidelity, fourth largest asset manager with $7.2 trillion in assets under administration as of October 2018, about the intention to launch institutional platform for Bitcoin and Ethereum, made the headlines.
- Major newsbreak that happened the same day was the surge of Bitcoin by more than $1,500 on Bitfinex in the space of just a few hours. The sudden rise from $6,294 to $7,788 represented a 24% in value, though it was not reflected across other popular bitcoin exchanges.
- At the end of the week, U.S. Securities and Exchange Commission (SEC) fined Gelfman Blueprint, Inc. (GBI), bitcoin hedge fund with $2.5 million penalties for Ponzi scheme.
- Overall sentiment based on all ideas published on TradingView within the course of the last seven days was as follows: 60% of traders on the platform were bullish, and 40% were bearish. 69% bullish, 31% bearish is the ratio among the top 10 Bitcoin traders. That’s slightly less positive compared to the previous week when 75% of top traders were bullish.
- TradingView pro user CryptoManiac101 came up with one of the most popular Bitcoin trading ideas of the week. He predicted that the next #Bitcoin bull run is to $1,000,000. But asked everyone to keep in mind that it’s 2-5 year perspective, not a short term. Check more details on the chart below: