BHEX Daily Crypto Watch, Perpetual Contract Strategy & Big Data(Jan 15th 2020)
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What is Perpetual Contract?
Perpetual contract is a derivative product that is settled in digital tokens such as Bitcoin (BTC)s (BTC). Traders enter either into a long (profit from upward trend) or short (profit from downward trend) position. Available leverage ranges from 1–100x.
Find out more about BHEX Perpetual Contract
The U.S. Securities and Exchange Commission (SEC) issued a warning for investors against Initial Exchange Offering (IEO). In it, it stated that IEO is similar to an Initial Coin Offering (ICO) which violates the securities regulatory requirements. The agency has been conducting an investigation into unregistered securities offerings over the past few years.
Grayscale Bitcoin Trust (GBTC) has resumed the placement of its private shares to “accredited” investors. GBTC can now subscribe on a daily basis at net asset value.
Heath Tarbert, Chairman of the US Commodity Futures Trading Commission (CFTC) said that the CFTC is helping to establish a regulated derivative futures market that Investors will be able to “rely on” for better “price discovery, hedging and risk management.” “It’s helping to legitimize [digital assets], in my view, and add liquidity to these markets.” He also added that Bitcoin and Ethereum are commodities, but the status of XRP is still unclear.
Fidelity Investments, one of the world’s largest investment management company launched its cryptocurrency division for the first time in Europe, opening a new front to bring digital currencies to mainstream investment.
Market Situation:
The total cryptocurrency market capitalization is U.S. $ 241 billion U.S. dollars (+10.86%) and the 24h trading volume is U.S. $ 157 billion U.S. dollars (+104.02%). BTC rose again today and reached the US $ 8,855 mark but it then fell slightly and is now oscillating around US $ 8,800.
Leading cryptocurrencies BSV and BCH both having price competition.
The market capitalisation of BSV surpassed BCH and it is now in the fourth position on CoinMarketCap.com. The anonymous coins DASH and ZEC performed relatively well. EOS, LTC and ETH followed through with the rise of BTC. Today, BCH has reached its key resistance level of 360 and it is recommended to avoid chasing breakout.
Bitcoin continues to rise, took down MA120. The three deviation Bollinger bands are heading upwards showing a mid-term upward trend. In the hourly chart, the MACD line has formed a death cross which a slight correction may occur. If you are planning to place a Long, it is recommended to look out for the correction before placing your order.
Steady: 8350 Long, Stop-Loss 8200, Target 8700.
Aggressive Strategy: 8750 Short, Stop-Loss 8850, Target 8400.
(The above is an opinion, not financial advice)
BHEX BIG DATA: Today’s Bullish Sentiment Increased, No. of Active Volume Reached A New High
As of 15th January, 10.30 am (UTC+8), BHEX Big Data shows the ratio of Long & Short position is at 1.38.
Perpetual Contract Funding Rate is -0.0022%;
The total number of BTC Contracts is 141,785,742;
The total number of BTC USDT Contracts transacted is 67,482,755;
83,522,675 BTC Perpetual Contract active Buy orders, and 83,139,009 of Sell orders.
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Published at Wed, 15 Jan 2020 09:23:20 +0000
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