IDAX Research Center : Daily Analysis of Digital Currencies 20191120

Nov 20, 2019 · 6 min read


  1. Galaxy digital, an asset management company, announced on Tuesday that it will launch two new bitcoin funds, bakkt and fidelity, as trustees.Kelly Loeffler, chief executive of bakkt, said: "while institutions and sophisticated investors are looking to access digital assets through new investment products, they are also looking for the highest standards of asset security.Bakkt warehouse aims to provide institutional level hosting to protect digital assets and support market development.
  2. Zou Shibin, deputy inspector of the Beijing local financial supervision and Administration Bureau, said at the meeting yesterday that the Beijing local financial supervision and Administration Bureau will continue to increase risk disposal in key areas, fully implement the task requirements of the national mutual financial regulation office and the online loan regulation office on P2P special regulation in accordance with the requirements of the national unified special regulation, and actively support the industry association to play a self-discipline role,We will improve the long-term regulatory mechanism in key areas, and continue to crack down on illegal fund-raising, ICO and other illegal activities.Continue to give full play to the two "mechanisms" that have been established in Beijing, one is the supervision and coordination mechanism led by the people's Bank of China and the other is the risk disposal mechanism led by the local financial supervision and Administration Bureau.We will increase the allocation of front-line regulatory forces and increase the participation of schools and institutions of the national financial management department.
  3. On April 20, Ruikang pharmaceutical and Zheshang Bank held a press conference in Hangzhou, announcing to jointly build a national leading blockchain medical and health service platform.This cross-border cooperation between the two sides innovated the supply chain financial model of the pharmaceutical industry, enhanced the ability of Zheshang Bank to serve the medical and health entity enterprises. In the future, the two sides will provide the medical and health industry with simple, efficient, flexible and unexpected comprehensive services, jointly build the medical and health supply chain ecosystem, and help the high-quality development of the medical and health industry.

Market Analysis

BTC — Yesterday, BTC fell, continued to explore the support of 8000 US dollars, and the volume can shrink at the same time.In terms of capital, BTC’s net inflow in the past 24 hours exceeded US $250 million, a significant increase compared with the previous week.On the technical side, on the one hour K-line, the market stopped falling at $8000, rebounded slightly, and the pressure was at the ma30 average.On the 4-hour K-line, the market is still in a state of falling interruption, and the amount of long rebound can be significantly insufficient.At this stage, the market stopped falling but did not stabilize. The upper pressure is 8750, and the lower support is 8000 US dollars.In terms of operation, it is recommended to make up the position against the support position in the spot market and in the futures market.

ETH — ETH has continued to decline with the market volatility since yesterday and is currently trading around $176.In terms of capital, the net inflow of eth in the past 24 hours was close to US $130 million, a significant increase compared with the previous week.On the technical side, from the perspective of the 4-hour K-line and daily line, ETH trend is weak. Affected by the market, short sellers still occupy a dominant position at present.If the market stabilizes gradually, the mainstream currency market may have a good performance.The upper resistance level is around $185 and the lower support level is around $172.In terms of operation, it is recommended to hold the currency temporarily and wait, and appropriately increase the position when it falls to the support position.

BCH — BCH’s short-term continued to fall below its previous low yesterday, falling to a minimum of $232. At present, there are signs of deviation in the short-term, and short-term positions can be light long.On the technical side, the hourly level saw the short-term market break again yesterday, RSI and other indicators showed a double bottom situation, the rebound situation saw a certain support at the bottom, the short-term market can be long in small positions, the daily level can be enlarged, and the midline market still needs to wait.In terms of operation, keep a wait-and-see view for the middle line, and try to do more for the short line.

EOS — EOS fell rapidly yesterday, with a minimum of 3.0. The market has a strong will to go down. Although the current trend returns to the brin zone, it has a strong momentum, and it is difficult to reverse the situation. The short term will continue to explore the position of 3.0.In terms of operation, it is recommended to defend and wait, not to operate frequently.

ETC — Etc tried to pull up at noon yesterday, but couldn't get out of the independent market due to the influence of mainstream currencies.It fell to $4.25 at night.It is currently fluctuating around 4.37.On the technical side, four hours of K-line saw MACD underwater gold fork, RSI oversold repair, may rebound in the day.See ma30 for rebound resistance. At present, the market liquidity is poor and the situation is difficult to reverse.Pay attention to the 4.3 support position below today. If you fail to keep it, there is a great probability of waterfall market.In terms of operation, it is recommended to stay on the sidelines on the spot, and try to short the positions at a high level on the futures.

XRP — Yesterday XRP continued to decline, K first came to the lowest point, but did not break down, rebounded to the brin belt near the middle track at night.On the fund side, the net outflow of XRP in the past 24 hours is about 130 million yuan, compared with a certain amount of off-site funds in the previous week, the turnover rate is 8.1%.On the technical side, the dynamic index MACD gold fork goes up, the off-site funds begin to enter the market for more trials, and the short-term market has a stop to fall arrangement. If the short-term market can further break through the middle track of the brin belt and stabilize, then the short-term market may explore the resistance level; otherwise, it may shake the downward market.In terms of operation, the spot market continues to wait and see, and light positions can be bought after breaking through the middle track.

LTC — Yesterday, LTC fluctuated above the support level, and the short volume could shrink without breaking the support.In terms of capital, the net inflow of LTC capital in the past 24 hours was about 65 million yuan, with a turnover rate of 28%.Yesterday’s long rally is weak, short-term is still dominated by short sentiment, weak trend.It is possible to explore the support of $54 again in the day. If the market does not fall further, it is unlikely to break the support of $54.If the market continues to fall, watch for the next support around $52.In terms of operation, the spot holds the currency on the sidelines. If it breaks the position, it can buy in a light position. Futures are not recommended for the time being.


According to the latest report of coin metrics, a blockchain data analysis service provider, nearly 1.7 million bitcoins were lost through repeated transactions and rewards such as unclaimed or stolen. If the latest bitcoin price is about US $8000, the value of 1.7 million bitcoins is about US $13.6 billion. According to the data, 41.86% of bitcoin accounts for 2038 wallet addresses, which only accounts for 0.01% of the total number of wallets, cryptobuzz tweeted.

IDAX global digital asset exchange


Written by

IDAX (, a global digital financial services platform focused on blockchain asset trading. Business cooperation:

More From Medium

Also tagged Analysis

Top on Medium

Ed Yong
Mar 25 · 22 min read


Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade