Weekly crypto sentiment brain-powered by the most authoritative experts from the trading network.
The previous week was marked with Bitcoin traders indecisiveness. The week was loaded with negative newsbreaks, including the crypto trading warning from major Belgian regulator, FUD buzz around the rumors about Goldman Sachs dropping the idea of opening a crypto trading desk, etc. Was this week any different? Let’s catch up on the newsworthy stories, traveled through within the course of the last several days:
- On Monday the U.S. Securities and Exchange Commission (SEC) suspended the trading of the cryptocurrency-related securities, Ether Tracker One and Bitcoin Tracker One. Both were listed on the Stockholm stock exchange, part of Nasdaq’s Nordic.
- Later the massive positive news was injected into the market as Bloomberg reported that Morgan Stanley is preparing to offer Bitcoin swap trading for clients. Thus they are joining the other top banks in exploring digital currencies, including Citigroup, that announced the initiative on the developing digital asset receipts, of a new mechanism for trading cryptocurrencies earlier.
- On Friday the loudest news in the field was the Greece Supreme Court’s ruling on Alexander Vinnik’s, the owner of the BTC-e.com cryptocurrency exchange, extradition to Russia, instead of the US or France, which were also interested in “Mr. Bitcoin.”
Overall sentiment based on all ideas published on TradingView within the course of the last seven days is as follows: 52% of traders on the platform are bullish, and 48% are bearish. 76% bullish, 24% bearish is the ratio among the top 10 bitcoin traders. Changes since the last week are moderate if to count in all the traders: just +2% more of bearish. Top traders got back to their beaming optimism about Bitcoin. There were 52% more long ideas compared to the previous week.
One of the most popular TradingView trading ideas of the week is these predictions of the bear market’s end by user CryptoMedication:
This Bitcoin Formation Predicts When the Bear Market Will End by CryptoMedication on TradingView.com