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SimpleFX Makes CFD Trading Fast and Easy Like Never Before with the Launch of the New SimpleFX WebTrader Tool   

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SimpleFX, one of the fastest growing CFD platforms, has just released a new version of SimpleFX WebTrader with the goal of becoming the fastest and easiest of all trading tools available at present. The company has also joined hands with the affiliate tracking platform Unilink.io to help its clients enjoy real-time revenue tracking benefit and up to 40% share rates. October 12, 2018 SimpleFX is pleased to announce the official release of the new version of SimpleFX WebTrader, a state-of-the-art tool that will make CFD trading effortless for all types of traders regardless of their trading experience. SimpleFX is a Source: https://bitcoinsinireland.com/simplefx-makes-cfd-trading-fast-and-easy-like-never-before-with-the-launch-of-the-new-simplefx-webtrader-tool/

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Stellar Lumens, Cosmos, Enjin Price Analysis: 24 October

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The news that Paypal would introduce its users to Bitcoin and Ethereum was considered an emphatic victory by many in the community, with the same propelling the price from $12,200 to $13,100. The on-chain metrics for the crypto-asset had been quite bullish over the past couple of weeks, but breaking news has a way of swaying heads that rationale and metrics don’t.

On the charts, Stellar Lumens and Enjin Coin exhibited the possibility of a drop in value while Cosmos appeared to enter a phase of lowered volatility.

Stellar Lumens [XLM]

Stellar Lumens, Cosmos, Enjin Price Analysis: 24 October

Source: XLM/USD on TradingView

There was a stark discrepancy between the price and the buying volumes on the OBV. As the price formed an equal high, the OBV was sliding down south on the charts.

Such a dearth in buying interest at the local top signified a drop in value for XLM. It had a level of support at $0.082. but it could drop further to $0.079 as well.

A defense of the recently flipped level would be bullish for the crypto-asset in the coming days.

Cosmos [ATOM]

Stellar Lumens, Cosmos, Enjin Price Analysis: 24 October

Source: ATOM/USD on TradingView

The width of the Bollinger Bands was at its lowest in more than a month as the price appeared to stall just beneath the resistance level at $5.45.

Volatility had been a certainty over the previous week, but at press time, the volatility appeared to have fallen. If a pinch follows, it can be expected to lead to a breakout. The direction could be either way, with width expansion followed by a spike in trading volume needed for confirmation of the bias.

Enjin [ENJ]

Stellar Lumens, Cosmos, Enjin Price Analysis: 24 October

Source: ENJ/USDT on TradingView

Enjin noted a bullish divergence in the short-term, similar to many other crypto-assets in the space while also registering a surge of 10%.

However, the crypto-asset has been forming lower highs since August, and the trend might be set to continue. When bullish momentum wanes, bears can come by some good entries for short positions.

To highlight the lack of momentum for the coin at the time of writing, we need only look at the MACD and the DMI.

The MACD was marginally above zero while it formed a bearish crossover. This is technically a weak signal, but the more important takeaway is that the momentum indicator showed a lack of momentum.

Similarly, the DMI highlighted the absence of a strong trend as the ADX (yellow) moved further south of the 20-mark.

Source: https://eng.ambcrypto.com/stellar-lumens-cosmos-enjin-price-analysis-24-october

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JPMorgan Does an About Face, Turns Bullish on Bitcoin

Wall Street bank JPMorgan has surprisingly turned bullish on bitcoin’s medium to long-term growth potential. In its latest Flows & Liquidity report, JPMorgan reportedly stated that bitcoin will compete favorably with gold as an alternative currency in the coming years, as millennials take up a larger share of the total investment picture. The contents were […]

The post JPMorgan Does an About Face, Turns Bullish on Bitcoin appeared first on BeInCrypto.

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Wall Street bank JPMorgan has surprisingly turned bullish on bitcoin’s medium to long-term growth potential.

In its latest Flows & Liquidity report, JPMorgan reportedly stated that bitcoin will compete favorably with gold as an alternative currency in the coming years, as millennials take up a larger share of the total investment picture.

The contents were publicly revealed by Dan Tapiero, co-founder of 10-T Holdings, which is an investment fund focused on digital assets. Writing on his Twitter account, Tapiero expressed surprise at the bank’s uncharacteristically positive assessment of bitcoin.

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“Bitcoin Will Rival Gold”

Flows and Liquidity, which is edited by J.P. Morgan global market strategist Nikolaos Panigirtzoglou, previously expressed similar thoughts about bitcoin’s long-term growth potential. This time, however, the assessment went into great detail to analyze why the bank believes bitcoin has such vast upside potential.

According to the excerpt published by Tapiero, the comparison between bitcoin’s $240 billion total market cap and gold’s $2.6 trillion total stored value presents a massive growth opportunity for bitcoin. This is because as millennials take a bigger share in the total investment picture, they are likely to favor bitcoin over gold, at least to a modest extent. This leaves at least $2.2 trillion worth of value currently stored in gold bars potentially open for bitcoin investors to gobble up.

A quote from the excerpt provided by Tapiero reads:

“Even a modest crowding out of gold as an ‘alternative’ currency over the longer term would imply doubling or tripling of the bitcoin price from here. In other words the potential long term upside for bitcoin is considerable as it competes more intensely with gold as an ‘alternative’ currency we believe, given millennials would become over time a more important component of the investors’ universe.”

Bitcoin Bullishness Matches JPMorgan’s Assessment

According to the Flows and Liquidity excerpt, corporate trends including PayPal’s recent announcement are already having a significant positive net effect on bitcoin’s price. This is expected to continue. BeinCrypto recently reported that bitcoin jumped 7% after PayPal decided to permit users to buy, sell and hold crypto from January 2021.

TradingView: Bitcoin

The bank’s overall assessment is that while bitcoin remains susceptible to price shocks due to profit-taking in the short term, its long-term prognosis remains very positive due to the expected millennial shift from gold to bitcoin.

Source: https://beincrypto.com/jpmorgan-does-an-about-face-turns-bullish-on-bitcoin/

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JPMorgan Strategist: ‘Potential Long-Term Upside for Bitcoin Is Considerable’

On Friday (October 3), Nikolaos Panigirtzoglou, a Managing Director at J.P. Morgan who works on Global Market Strategy, published a report that talked about the long-term potential of Bitcoin. Dr. Panigirtzoglou edits the weekly publication “Flows & Liquidity”, which is one of J.P. Morgan’s flagship publications. Before joining J.P. Morgan in 2004, he worked as […]

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On Friday (October 3), Nikolaos Panigirtzoglou, a Managing Director at J.P. Morgan who works on Global Market Strategy, published a report that talked about the long-term potential of Bitcoin.

Dr. Panigirtzoglou edits the weekly publication “Flows & Liquidity”, which is one of J.P. Morgan’s flagship publications. Before joining J.P. Morgan in 2004, he worked as a Financial Economist at the Bank of England. Dr. Panigirtzoglou holds a PhD in Finance from Queen Mary University of London, an MSc in Economics from London School of Economics, and MSc in Economics and Finance from Warwick Business School.

The latest edition of “Flows & Liquidity”, which was sent out to the bank’s clients yesterday, was titled “Bitcoin’s competition with gold”.

Here are a few highlights from this report:

  • “… Bitcoin could compete more intensely with gold as an ‘alternative’ currency over the coming years given that millennials will become over time a more important component of investors’ universe.”
  • “… given how big is the financial investment into gold at the moment, a crowding out of gold as an ‘alternative’ currency implies big upside for bitcoin over the long term.”
  • “… the market cap of bitcoin would have to rise 10 times from here to match the total private sector investment to gold via ETFs or bars and coins.”
  • “Millennials and corporates endorsement of bitcoin have also induced greater interest by institutional investors as evidenced by the spike in activity across both bitcoin futures and options at CME, and that was before PayPal’s endorsement this week.”

As Daniel Tapiero noted on Twitter, this report seems like the most bullish analysis of Bitcoin that J.P. Morgan has ever published:

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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