Binance’s Fundamentals Positive, BNB Posts 6% Gain as Reaction
Binance coin (BNB) stable, adds 5.2 percent
BXB Inc likely to partner with Binance in South Korea
Altcoin Apocalypse: Only Two of Top Ten Crypto Cap Have Outperformed Bitcoin
Monday August 12, 2019
The further Bitcoin has climbed, the worse the altcoin market has suffered, to the point many are calling for an altcoin apocalypse that takes the price of most crypto assets to zero, except for...
The post Altcoin Apocalypse: Only Two of Top Ten Crypto Cap Have Outperformed Bitcoin appeared first on 12bitplay - Bitcoin Play.
After offering margin trading for their broad customer base, Binance is considering launching yet another exchange in South Korea. Meanwhile, BNB prices are stable, up 5.2 percent in 24 hours.
Binance Coin (BNB) Price analysis
According to reports, Binance has their eyes set on South Korea. The headquarters of Samsung is cryptocurrency receptive. Therefore, no doubt, if the latest news is anything to go by, then it would be massive for Binance.
Encouragingly, all indicators point to a possible launch in weeks or even months ahead. Reports in South Korea show that the exchange will execute their operations through a limited company, Binance LLC.
To efficiently carry out their duties and meet customer demands, Binance will partner with a Korean Won stablecoin issuer in BXB Inc. Besides, and adding weight behind Binance’s expansion drive, they are advertising for the position of a Compliance Officer.
Positive as it is, Binance, it appears, are preparing for the exit of US clients by offering attractive features. Timely, the rollout of Margin Trading will change the minds of those looking to shift camps. In a post, Changpeng Zhao said:
“This is another step in providing an inclusive cryptocurrency trading platform catering to the needs of both advanced institutional traders and retail traders under the same roof. We are providing a new tool in the financial services and cryptocurrency markets to help amplify trading results of successful trades.”
Did Chinese Ponzi Scam Cause Bitcoin To Tank 10%?
Thursday August 15, 2019
For the umpteenth time Bitcoin has dumped double digits in a single day … again. Yet the FUD and panic still pervades the scene like a bleak cloud of despair that will be blown...
Like the rest of the market, bears are marauding. Though sellers are slowing down, thanks to yesterday’s bull candlestick and a double bar bull reversal pattern from $25, bulls are evidently at an exhaustion point.
However, considering fundamental factors, there is room for buyers to step up in days ahead. Analyzing the BNB/USD pair in the weekly chart reveals the resilience of buyers. With firm support at the $25-$30 zones as well as resistance at $43 or June high, BNB is mainly in range mode.
The short-to-medium term reaction, therefore, directly depends on how prices react at $25 and $43.
If buyers step up, shaking off sell pressure of the last few days, BNB may soar to $70 in line with previous BNB/USD trade plan. Conversely, losses below $25 could spark panic sells as bears set their eyes on $20.
Presently, the week ending May 26 bull candlestick leads this trade plan. Accompanying trading volumes are decent at 29 million. As such, any surge or drop below these limits must be with high participation surpassing 29 million.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Bitcoin (BTC) Price Hits Weekly Bearish Target: $10K Could Be Next
Wednesday August 14, 2019
Bitcoin price broke the key $11,200 support level and declined below $11,000 against the US Dollar. The price tested the $10,500 bearish target (as discussed in the weekly forecast). There is a major bearish...
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