Bitcoin analysis for 31/01/2018
January 31, 2018 10:21 amVideo
Latest News
- Technical Analysis of Intraday Price Movement of USD/JPY Main Currency Pairs, Wednesday April 17, 2024. April 17, 2024
- Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Wednesday April 17, 2024. April 17, 2024
- Forecast for EUR/USD on April 17, 2024 April 17, 2024
- Forecast for GBP/USD on April 17, 2024 April 17, 2024
- Forecast for USD/JPY on April 17, 2024 April 17, 2024
- Outlook for EUR/USD on April 17. A boring Monday seamlessly transitioned into a boring Tuesday April 17, 2024
- Will the euro manage to save itself? April 17, 2024
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
The American government institute found in official research on cryptocurrency that Bitcoin Cash is the original Bitcoin, while Bitcoin itself is a fork. In the document entitled “Blockchain Technology Overview” at the National Institute of Standards and Technology at the US Department of Commerce, the authors Dylan Yaga, Peter Mell, Nik Roby, and Karen Scarfone argue that on the technical side, Bitcoin Cash is the original version of Bitcoin: Activation of SegWit resulted in the creation of a hard fork, and users who did not want to change began to call the original Bitcoin – Bitcoin Cash. From a technical point of view, Bitcoin is a fork, and Bitcoin Cash is the original Blockchain. When the hard fork happened, people had access to the same amount of coins in Bitcoin and Bitcoin Cash.
The document seems to be interesting for reading at a time when the cryptocurrency industry is flooded with propaganda and marketing activities of both BCH and BTC representatives. The confusion of new Bitcoin users has increased after the July hard fork. Recently, there have been two scandals related to Bitcoin Cash, CNBC’s main news channel and the main US stock exchange Coinbase, which has even chewed the reputation of BCH. The US government document, however, seems to be unmoved by both the events and the nature of the bitcoin bucket.
Litecoin, as the authors say, is a “Bitcoin supplement”, while Ethereum Classic is underlined as the original version of the more popular Ethereum. Last week, the Weiss rating agency caused a stir when it delivered its first cryptocurrencies, giving Ethereum “B” and Bitcoin “C +” (in the US equivalent of grades 4 and 3+, respectively).
Let’s now take a look at the Bitcoin technical picture at the H4 time frame. The market fell out of the channel and tried to test the technical support at the level of $9,151, but so far made only a local low at the level of $9,300. Currently, the price is trying to bounce back towards the level of $10.693, which would indicate a return to the consolidation zone.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: