December 30th, 2018

No news can bring traders’ belief in bitcoin down

No news can bring traders’ belief in bitcoin down

December 30th, 2018

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

The previous two weeks’ bitcoin-related news were quite negative: we had to deal with the announcements about miners shutting down their businesses, more delays from U.S. Securities and Exchange Commission (SEC) on considering exchange-traded fund (ETF) proposals, negative predictions on the future drop of bitcoin’s price and even crypto terrorists bomb-threatening millions of people from all around the globe. Let’s try to reflect on the past couple of weeks and see if there were any differences in media and traders’ sentiments toward bitcoin:

  • The quite positive news was circulating in the middle of December when The Wall Street Journal published the announcement about the bitcoin futures contract launched by Intercontinental Exchange Inc., getting closer to regulatory approval.
  • However, later there were more speculations on the topic and seems like there are still some delays on the way. The end of January is still plausible, though.
  • Along with more news on institutional’ money, including Goldman Sachs and Morgan Stanley, being indecisive about committing to crypto.
  • On top of that overall layoffs and cut downs in crypto space, including one of the largest miners, Bitmain and crypto trading exchange Huobi letting go some of their employees, didn’t add positivity.
  • Traders’ sentiment based on all ideas published on TradingView within the course of the last two weeks days was as follows: 57% of traders on the platform were bullish, and 43% were bearish. 78% bullish, 22% bearish is the ratio among the top 10 Bitcoin traders. Quite an increase in positivity compared to the previous two weeks when 57% of top traders were bullish.
  • TradingView user alanmasters shared one of the most popular bitcoin trading ideas of the past two weeks. He was wondering if it was the right time to buy #Bitcoin $BTCUSD and noticed some chart signals that were starting to turn bullish again. Check out the chart below or jump in here for more details.