By Ana Balashova (@coinjive)
October 12th, 2018

The week that ended with the crash of bitcoin

The week that ended with the crash of bitcoin

By Ana Balashova (@coinjive)
October 12th, 2018

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

During the previous week quite positive newsbreaks were getting through, including updated $8 billion evaluation of Coinbase, plans on significant increase of the number of bitcoin ATMs operating in Argentina and some movements in ETFs approval by the U.S. Securities and Exchange Commission (SEC). Let’s recap on the most important events for bitcoin happening during this week:

  • At the beginning of the week, the troubling announcement that one of the oldest crypto exchanges in the UK, launched in 2013, is cutting 40 of its employees stormed the media.
  • Later on “Bitcoin Jesus” Roger Ver stole the headlines with an idea of launching his exchange at Bitcoin.com, to increase the website’s revenues.
  • At the end of the week, the sudden crypto crash and reasons behind it was the major topic: Bitfinex, Hong Kong-operated exchange, has “temporarily paused” Fiat Deposits, and that led to a rapid bitcoin sell-off.

  • Overall sentiment based on all ideas published on TradingView within the course of the last seven days was as follows: 66% of traders on the platform were bullish, and 34% were bearish. 75% bullish, 25% bearish is the ratio among the top 10 Bitcoin traders.  That’s even more positive compared to the previous week when only 63% of top traders were bullish.

  • TradingView top user PRO_Indicators shared one of the most popular Bitcoin trading ideas of the week. He demonstrated how his long-term idea, when his was comparing today’s #charts with 2014 #BTC $BTC crash, was working out so far and told what to expect next. Check the chart for more details:


    2014 crash comparison (final stage) : the compression & entry by PRO_Indicators on TradingView.com

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