【IDAX Investment Research Center】STO boosts BTC this round

I.IDAX investment opinion

In the past 24 hours, BTC’s global average price was 6,462.00 USD, a 24-hour increase of 0.85 %; EOS global average price was 5.74 USD, a 24-hour increase of 4.84%; ETH’s global average price was 219.00 USD, a 24-hour increase of 4.61%.

Figure 1 shows the “CoinMarketCap” data ranking. As of the time of publication, among the top 10 encrypted digital currencies in circulation, there are general prices in each currency, and the market is at 7 points (out of 10).

the reason for the strong market is that STO’s innovation has landed. According to Reuters, TokenClub recently acquired the US investment consulting service company NEW ENGINE ADVISORS LLC, which holds the RIA (Registered Investment Advisor) issued by the US Securities and Exchange Commission (SEC). Investment consulting license. TokenClub’s wholly-owned acquisition of NEW ENGINE Consulting means that TokenClub can and conduct investment advisory services to global investors under the supervision of the SEC. This news was also reported by the US blockchain media NEWSBTC.

Omit, the market recently accepted more cases of BTC payment; according to Bitcoin, Japan’s regulated cryptocurrency exchange Bitpoint announced cooperation with the two companies to provide cryptocurrency payments for its business. Hinomaru Limousine has begun accepting cryptocurrencies for airport taxi payments, while Carchs Holdings allows cryptocurrency payments at its used car dealerships.

Of course, the market is also paying more and more attention to the “volatility” problem mentioned by the IDAX Investment Research Center. According to the bitcoinexchangeguide report, contrary to the violent fluctuations in the global stock market, the recent CBOE bitcoin futures contract Volatility reached a record low. Kevin Davitt, senior lecturer at CBOE Global Markets Options Research Institute, confirmed last week that the average volatility of Bitcoin futures in October was 3% lower than the previous least. Davitt believes that this proves that volatility is slowing, which may be very important for the future of the market. For the market, this may be more interesting than the background of fierce fluctuations in global stock markets. But, as volatility declines, the trading volume of Bitcoin futures is also declining. Despite this, low levels of volatility are very beneficial to traders. This means that speculation is slowly moving away from the market, which is a very healthy sign.

Figure 2 shows the BTC’s 1-hour K-line chart. After the high sideways volatility, the price once again showed an upside and broke through the previous small platform. Although it is now again encountering a higher platform resistance, but from the hourly trend On the up, the rise is good.

Figure 3 is a 4-hour K-line chart of BTC. It can be seen that the strength is relatively strong. The Zhongyang line is closed. Now it is necessary to observe whether it can break through the high point of the previous platform. Here, it is better to have an accelerated increase and break through in one fell swoop; otherwise, it is easy. Once again, it caused a false breakthrough, forming a sideways volatility, and then oscillating and turning down the market. At the same time, according to the technical form of the bare K-line, today’s K-line and tomorrow’s K-line are also very important, and the Yangxian line must be received to truly reverse the trend at the 4-hour cycle level.

The market is always born in despair, growing up in hesitation, maturing in shackles, and perishing in madness. Thus, the market is all-encompassing and diverse; so, you must do your own “understand” market, know why you make money, and more importantly, know why you are losing money. Only by doing “belongs” to your own market, can you move forward and backward.


II.The data review

In the spot market, Coindesk’s statistical BTC price was displayed as 6528.73 USD at the time of publication, showing a breakthrough trend.


III.The news comment

1. According to Bittrex official news, Bittrex has now updated the US dollar market information. The US dollar market is now added to 29 states, and its related accounts and eligible overseas accounts may be subject to US dollar deposits and withdrawals.

Means: The direct transaction of legal currency began to be implemented.

2. According to ambcrypto, Overstock CEO Patrick Byrne said in an interview recently that Bitcoin will become the world currency.

Means: the world currency in the blockchain.


V. IDAX operational strategy

20180907 strategy

Arbitrage strategy (20180907): Buying a BTC at the opening market price and selling the equal ETH short. Stop loss BTC/ETH is less than 20. (Use the profit of the previous arbitrage strategy as a safety mat)

20181107, execution


Disclaimer:

This report is an internal communication report of the company. It is based on the current publicly available information. The company strives for but does not guarantee the accuracy and completeness of the information. The opinions expressed are only for internal communication and do not constitute for anyone. Investment advice, based on this investment, at your own risk.