#Binbot Pro Best Binary Auto Trader
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BinBot Pro Review: Profitable Auto Trading or a Scam?
Reviews for automated trading systems like BinBot Pro are the most sought after.
This is because auto trading is the newest trend in the world of trading.
Many traders are confused about how auto trading work or are skeptical about it.
But we are here to the rescue!
In this review, we will go through the features of BinBot Pro to see how it works, how well it delivers on its promises and most importantly, you can know if it is a scam or not.
Binbot Pro Review
Automated trading systems like BinBot Pro allow auto trading with the help of trading algorithms.
The trader has to set some rules such as risk levels, entry and exit stipulations, and leverage and the rest will be done by the auto trader.
The traders can then relax and not worry about monitoring their positions.
This has made trading robots very popular and in demand.
As a result, the market is now flooded with tons of trading robots.
As a trader who’s looking for a reliable robot, it might become difficult to choose one.
Our Review on BinBot Pro will clear that doubt for you.
Let’s start.
BinBot Pro Review: What is BinBot Pro? BinBot Pro Review - Binoption High Capital Risk Is Involved In Financial Trading
BinBot Pro is a Binary Options Robot that offers automated trading to its users.
It was established in the year 2016 and has been offering an automated trading service since then.
There are multiple robots available for that trades on your behalf.
You can also customize them to match your requirements.
Each trading robot follows a different strategy and you can choose the one that you think will work the best for you.
BinBot Pro has partnered with BinaryCent which is an online broker.
You carry out transactions like deposits and withdrawals through this broker.
We will discuss more this broker later in the review.
Trading robots have been popping up left and right due to the increased demand for automated trading.
Unfortunately, not all trading robots have proven to be effective.
They enter and disappear from the market without anyone noticing.
This proves that you cannot expect to provide poor service and survive in the market.
BinBot Pro has been going strong ever since it was released in 2016.
It has gained popularity among traders quickly and has become one of the best-automated trading systems currently.
In 2016, they won the award for the best binary robot.
Why choose BinBot Pro? BinBot Pro offers certain features that you cannot overlook.
Let’s see the reasons as to why you should choose BinBot Pro as your preferred choice of the trading robot.
Offers profitable auto-trading Even new traders can make large profits Easy registration process Returns as high as 90% Demo account offered Award-winning automated trading Robots have a profit rate up to 300% Provides services to many countries around the globe Major forex pairs as binary options Popular Crypto assets A minimum deposit fee of $250 Manual customization of trading robots Fast and reliable platform Dedicated customer support BinBot Pro Live Trading Video, Results and Withdrawal BinBot Pro Sign-up and Login BinBot Pro Login Signup - Binoption The account creation process is quick and hassle-free.
The process is described below:
Step 1 Click on the ‘Registration’ button below to start your registration process.
Step 2 Step 3 Step 4 To log in into your account, just use your provided email address and password.
CLICK FOR REGISTRATION High Capital Risk Is Involved In Financial Trading
BinBot Pro Broker- BinaryCent BinaryCent BinBot Pro Broker - Binoption BinBot Pro currently only offers one broker to deal with: BinaryCent.
BinaryCent is an online trading platform which was founded in the year 2016.
It is managed by Cent Project Ltd., which is a subsidiary of Finance Group Corp.
The company is based in Vanuatu where their head office is located in Transpacific Haus, Lini Highway, Vanuatu.
BinaryCent is regulated by the Vanuatu Financial Services Commission (VFSC).
BinaryCent guaranteed withdrawals processing within 1 hour.
BinaryCent’s focus lies on small traders and hence their minimum deposit and investment are very low.
You need to deposit a minimum of $250 to start trading and the minimum trade investment is only $0.1.
This is one of the lowest we have seen and is beneficial for small and new traders.
You get leverage up to 1:100 on trading assets.
BinaryCent offers binary options along with forex and CFDs in their trading portfolio.
Recently they have added cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Zcash, Monero, BCH, Dash, PrimeCoin, Reddcoin, and many others.
BinaryCent offers customer support through live web chat or through the telephone.
BinaryCent has its proprietary trading platform for trading.
The platform is web-based which means you don’t have to download separate software for trading.
The platform is user-friendly and trade execution happens without any delay.
They also offer mobile trading on the iOS and Android.
They have the same features and functionalities as the web-platform.
There are three different types of trading accounts on BinaryCent; Bronze, silver, and gold. Silver and gold accounts offer extra benefits and bonuses to traders.
Speaking of bonuses, traders get rewarded with bonuses for the deposit they make.
Depending on the type of account they choose to create, they get rewarded with 20%-100% bonus.
All these features make BinaryCent a great choice to be BinBot Pro’s broker.
VISIT BINARYCENT BROKER High Capital Risk Is Involved In Financial Trading
BinBot Pro Top Robots - Created By Users BinBot Pro Top Performing Robots - Binoption BinBot Pro ranks robots on the basis of profits they generate for traders.
Here are some of the top performing robots for BinBot Pro:
RSIMA Cross Robot This is the top robot with a profit of over 300%.
The strategy used in this robot involves matching the RSI with the moving average cross indicator.
The robot buys or sells when it matches with the RSI overbought or oversold signal.
The signal is maintained until an opposite signal is received.
The minimum deposit for this robot is $3000 and its algorithm level is at 5 points.
xProfit Robot Ichimoku Crypto V2 Robot Rising East v1.2 Robot HP Cycles Robot Strong ADX v.2 Robot Strong US v2 Robot Bolly Band Bounce Robot RVI and MA Robot Bladerunner Robot CHOOSE YOUR TRADING ROBOT High Capital Risk Is Involved In Financial Trading
BinBot Pro Settings and Trading Platform BinBot Pro’s auto trading platform is available on the web.
You don’t need any separate software for trading which is convenient for many traders.
The whole auto-trading is revolved around following a trading robot which is available from the list of robots.
The platform displays the top 10 performing robots based on the profit level they generate.
Note that you can either copy the robot directly by letting it do all the trading for you or you can customize the robot to suit your needs.
You can also create a robot from scratch if you have the necessary trading experience.
Let’s take a look at the process of robot creation.
Robot Creation: BinBot Pro Settings Robot Creation - Binoption On the left side of the trading platform, there is a ‘create my robot’ button. Click on it to start the robot creation process. STEP 1 Choose a name for your robot. You can give it any name you desire but by adding a relevant name, you can easily remember its strategy and even others can benefit from it. STEP 2 STEP 3 STEP 4 STEP 5 BinBot Pro Indicators: BinBot Pro Settings Trading Indicators - Binoption There are 6 different types of indicators available in BinBot Pro: ADM Index: ADM stands for Average Directional Movement. It is an indicator that indicates the trend strength. It can determine when the price of an asset will trend strongly. This strength indication can be bi-directional, i.e. both upwards and downwards.
Commodity Chanel Index (CCI): Momentum Indicator: RSI Indicator: RVI Indicator: AROON: BinBot Pro Demo Trading BinBot Pro offers demo auto-trading before you invest.
You can demo run the top 10 trading robots and see which suits your needs the best.
The demo runs for a robot runs exactly for one minute.
The initial fund offered is $1000 and at the end of the one-minute demo, the final balance is displayed.
In our extensive testing, the demo tests always ended in profits and never seemed to face any loss which seemed suspecting to us.
When we traded on our real accounts, on an average, the robot won us 8/10 trades.
This is normal as no robot can guarantee a 100% win rate.
Their demo robot winning all trades may just be a marketing gimmick.
Also, the demo market conditions are obviously different than the real market conditions.
BinBot Pro Cryptocurrency Trading BinBot Pro offers exclusive crypto trading to its traders.
Although binary trading is not allowed in the U.S, you can trade forex-crypto assets from any country in the world through BinBot Pro.
You can trade popular cryptos such as BTC, ETH, Litecoin, Dash, and much more.
BinBot Pro even offers deposits and withdrawals using Bitcoins and altcoins.
This makes the transactions fast and secure.
The BinBot Pro crypto software claims to have income returns of 700% or higher.
According to statistics, on a daily basis, their robots win 32390 trades, 1765 new clients join their website, they pay profits of $86003, and a customer earns $3836 in profits on an average.
Approximately, 25000 clients have had profitable trades with BinBot Pro.
The current offer of BinBot Pro offers 100% sign up bonus to their clients for Cryptocurrency trading.
START TRADING CRYPTOCURRENCY High Capital Risk Is Involved In Financial Trading
BinBot Pro Mobile Trading Currently, there is no mobile app for BinBot Pro.
However, BinaryCent offers mobile trading.
So you can perform transactions on the mobile app.
However, for trading, you have to use the web platform.
BinBot Pro Asset Index BinBot mainly offers the major forex pairs along with few crypto-forex pairs.
Here is a list of the assets BinBot Pro offers in its portfolio:
Forex Pairs: EUR/AUD EUR/USD GBP/USD USD/CHF EUR/JPY USD/CAD AUD/USD EUR/GBP Crypto-Forex Pairs: BTC/USD LTC/USD ETH/USD BCH/USD BinBot Pro Minimum Deposit The minimum deposit on BinaryCent is $250 but for some regions, it is $500.
BinBot Pro redirects you to BinaryCent during the withdrawal and deposit process.
BinaryCent offers multiple transaction methods such as Credit card (Visa, MasterCard), wire transfer, WebMoney, Skrill, Neteller, Crypto wallets to accept cryptocurrencies.
The deposit process is quick and is process instantly.
BinBot Pro Withdrawal BinBot Pro offers multiple withdrawal methods such as Bitcoin, credit cards, Neteller, Skrill, and Perfect Money.
They charge a 5% transfer fee on credit card transactions.
BinBot Pro guarantees withdrawal processing within 1 hour.
The time it takes for you to receive this payment takes 2-7 business days.
Is BinBot Pro Scam or Legit? BinBot Pro Scam - Binoption BinBot Pro has been around 2016 and has a very good success rate of over 90%.
It has multiple trading robots and offers a regulated broker to trade with.
These reasons along with positive customer reviews make it a legit broker.
However, there has been a couple of complaints regarding this platform.
The thing with automated trading is, you are depending on algorithms and machines to do the trading for you.
This cannot ensure success every time, unlike popular beliefs.
Although not with complete certainty, we would like to say this platform is legal and you can use it for profitable trading.
BinBot Pro Cons Though it has many unique features for traders but it has also some drawbacks and they are –
Demo account lasts only one minute Demo trading results seemed suspecting to us Offers only one broker for trading Minimum deposits for top robots are high Conclusion BinBot Pro stands out from the rest of the auto trading by providing multiple robots that have a high success rate, multiple indicators offering vast technical analysis, and a convenient robot creation process both novice and experienced traders benefit from the profitable auto trading BinBot Pro offers.
However, there are a few things they could work on to improve further.
Their website feels lackluster to use.
They need to partner with more brokers to cater to more traders.
In conclusion, BinBot Pro is an excellent auto-trading robot that delivers what it claims to do
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Bitcoin SV Was the Best Performing Crypto in May – And it Wasn’t Close
The cryptocurrency markets saw rapid growth in May with quite a few outshining the largest by market capitalization, bitcoin.
The leading cryptocurrency drew most of the attention, rising 67 percent from $5,265 on May 1st to $8,900 by month’s end. A considerable amount of the gains happened in the lead up to the New York Blockchain event, that took place during the second week of May.
For instance, sharp rallies in bitcoin’s price on May 11 and May 13 pushed its price tag above $7,000 and then $8,000 for the first time in over a year.
Despite logging its best monthly gain since 2017 however, BTC ranks tenth on the list of May’s best-performing cryptocurrencies, according to Messari.io data.
Names like Chainlink (LINK), Dent (DENT), bitcoin SV (BSV), Holochain (HOT) and bitcoin gold (BTG) took a clear lead, each rising between 65 and 256 percent against their respective trading pairs with the U.S dollar.
The total capitalization of the broader market excluding bitcoin reflected the growth by rising to $125.6 billion on May 30th– its highest value in nearly 10 months.
Bitcoin pairings
The performance of individual altcoins when paired against BTC fared much worse, however.
Ether’s pairing with BTC, for example, found itself still unable to scale its 200-day moving average for much of the month, and at the time of writing has only increased roughly 2 percent since May 1 whereas its USD pair is currently up over 60 percent in the same time span.
Such a discrepancy between the performance of both pairs can be attributed to bitcoin’s price rally inflated the USD value of most altcoins why devaluing it value in BTC terms.
That said, a number of cryptocurrencies were able to flash strong performances in both categories, case in point being the top five performers for the month of May seen below.
Top 5 Monthly Performers In May
BSV | Price: $197 | MCAP: $3.5 billion | Percent Change: +231 percent
The crypto project aptly named ‘Satoshi’s Vision’ claims to be the “original bitcoin,” by restoring BTC’s first protocol while stating that it can massively scale with increased stability.
Bitcoin SV had a remarkable run during May and was the clear leader during the second half of the month after prices broke out on May 21, bringing it back above the elusive $100 price tag.
Prices peaked at $252 according to data from Bittrex after landing itself in overbought territory and triggering a pullback, as shown by the daily relative strength index (RSI) exceeding a value of 70.
BSV/USD remains bullishly bid above a technical resistance level of $148, but a strong close below could re-expose the $90 support in the coming weeks.
LINK | Price: $1.01 | MCAP: $364.3 million | Percent Change: +96 percent
Chainlink’s (LINK) staggering 200 percent rise in mid-May suffered a setback as the monthly close approached, but today remains 96 percent up on the month, placing it firmly in 2nd place within the top 5 performers for May.
Concerns are now building for greater drawdown, courtesy of a candle close below the 38.2 percent Fibonacci retracement line on the daily chart, exposing the neutral pivot along the 50 percent retracement at $0.84.
Prices remain bullishly bid above the 200-daily moving average (red line) and above a key resistance that became support at $0.68, but expect a pullback if its price breaks below the neutral 50 percent retracement.
DENT | Price: $0.001747 | MCAP: $124.1 million | Percent Change: 78 percent
DENT is a token issued on the ethereum blockchain that aims to facilitate global communications via its platform and service offerings.
Its performance on the month was bullish to say the least, concluding May with a 78 percent higher price than it started and ranking as the 3rd best performer of the month.
However, recent market developments have thrown into contention the short-term bullish trend as prices dipped below a key support by the time the monthly trading period came to a close.
Similar to that of LINK, the longer term view remains bullish while trading above the 200-day moving average (red line), which looks set to complete positive crossover with the 100-day moving average on another significant upward move.
BTG | Price: $26.71 | MCAP: $475.8 million | Percent Change: +64 percent
Bitcoin Gold (BTG), yet another bitcoin fork, changed BTC’s proof-of-work algorithm from SHA256 to Equihash, rendering specialized mining equipment obsolete in an attempt to democratize the mining process.
Traders heavily favored BTG buy opportunities in May, leading it to place as the 5th best-performing crypto this month, outperforming other notable bitcoin forks such as bitcoin diamond (BCD) and bitcoin private (BTCP).
BTG’s rising channel spanning more than four months looks set to break down courtesy of a rising wedge (bear reversal pattern) residing within the channel’s most recent price action. In addition, a long upper wick on the daily timeframe is evidence strong sell pressure still exists above $30.
Should momentum falter here, a drop in value toward the 61.8 percent Fibonacci retracement line at $20.34 may be in the offing, but will remain bullish so long as the channel pattern holds.
HOT | Price: $0.002165 | MCAP: $288.4 million | Percent Change: +74 percent
Holochain (HOT) is a decentralized application platform that uses peer-to-peer networking for processing agent-centric agreement and consensus mechanisms between users.
Beginning in late May, HOT managed to break a key resistance zone of $0.0016, carving out a further 57 percent rise in value before prices peaked at $0.0027 on May 29.
From there it has been a downhill battle for HOT with the forfeiture of the 38.2 percent retracement line opening up the neutral pivot point at $0.0018 (50 percent retracement).
If prices continue to falter, buying pressure is likely to support HOT near $0.0016 due to it being a previous resistance zone.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Balloons image via Shutterstock; charts by Trading View
This news post is collected from CoinDesk
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BinBot Pro – Safest & Highly Recommended Binary Options Auto Trading Robot
Do you live in a country like USA or Canada where using automated trading systems is a problem? If you do then now we ...
9.5
Demo & Pro Version Try It Now
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BinBot Pro – Safest & Highly Recommended Binary Options Auto Trading Robot (Proofs Inside)
Do you live in a country like USA or Canada where using automated trading systems is a problem? If you do then now we have a very interesting trading software to show you. We’re often asked, what is a good way to trade automatically? The answer depends on your location unfortunately because not all credible services that we recommend are available world-wide. However, the BinBot Pro system is a very special exception, one that can be used in every country in this world. Besides that, there are many other reasons why this BinBot Pro scam free trading software is so reliable, accurate and trustworthy. Stick around, we are going to tell you all about this really cool automated binary options trading system in this BinBot Pro Review.
If you don’t know what is Binary Options Trading – in a nutshell, Binary options are a revolutionary way of earning in the financial markets, which is very straightforward, quick, and extremely lucrative. Here, you just have to invest a small amount of money ($1 to $250) and predict where the price (for example, the US dollar exchange rate) will go up or down in a few minutes or hours. If your prediction is correct, your investment amount is nearly doubled; if it is wrong, well, you just lose your investment amount. So it is similar to gambling, the only difference – there are regularities one can exploit in order to make money. These are called chart patterns and are used all around the globe, not only by binary options traders and forex traders but also by investment banks’ employees who run the trading desks
BinBot Pro Official WebSite – Have a Look
BinBot Pro Test Result (Live Trading Videos)
BinBot Pro Overview
Let’s begin with a quick overview of what BinBot Pro really is. Like we mentioned earlier, it’s a binary options automated trading software, which can be modified to behave a certain way in certain market conditions for specific type of trades. Based on those parameters, the bot will execute trades on your behalf. The advantages of this are that you simply don’t get stressed out, the worry doesn’t cause you to miss out on a beneficial trade and the entire thing is in autopilot even if you’re not in front of your laptop. You don’t have to download anything, simply sync your account to this robot and the software will do everything for you. Nice and easy. The numbers talked about here are fairly spectacular, since the robot boasts a 90% success rate and possible payouts of up to 200%. Of course, these information are simply the basics, and we will go into much more detail in the rest of this review. First, however, let’s see what the first step you need to make is. Keep reading, BinBot Pro review is simply getting started!
How to Join BinBot Pro
If you want to start using this trading robot, you’ll have to create an account on its website first. The process of account creation is very easy, but it surely does have some neat particulars integrated into it. For instance, though this is purely a binary options robot, you can select to open an account in cryptocurrencies (Bitcoin or Litecoin, the choice is yours) or in EUR or USD. Apart from that, you only need to enter your name, cellphone and e-mail address, choose your password and click on the button on the bottom of the form. Oh, there’s yet another thing you’ll have to do before you can complete this process full, which is to choose which broker account you want to connect this robot to. There are three BinBot Pro brokers to choose from: BinaryCent, VideForex and RaceOption. Therefore, you’ll need an initial deposit of 250 USD in case your account is empty to get started. Nothing out of the ordinary. Once you choose the account, the robot will start working. How? We will let you know that story within the subsequent part of this BinBot Pro review.
BinBot Pro Registration
How Does Binbot Pro Work?
OK, so that you’ve completed the registration process and linked your trading account to BinBotPro. Now what? Well, you aren’t fully powerless when you get things rolling because that might just about imply this whole setup is a scam. In reality, there are a number of parameters you can set if you wish to instruct your robot how to behave in certain conditions. You do that by selecting which indicators the robot ought to take note of. There are six of them in total (ADM Index, Commodity Channel Index, Momentum, RSI, RVI and AROON), and you need to select a minimum of three of them. In addition to that, you also select how big the duration will be, which is expressed in minutes.
BinBot Pro Demo
However, we also discovered the option of activating a BinBot Pro demo. A wonderful thing about this is that it can be done without you ever having to invest any money, which means you can check issues out without any financial risk to you. Simply select one of the three brokers you don’t have an account with, then just don’t deposit anything and click on on the “Robot Demo” button that will appear in front of you when you log in. By utilizing the demo version, it is possible for you to verify BinBot Pro scams on your own and then decide whether or not you want to use this trading device. If you decide you want to do this, but don’t want to fiddle around with the settings, there’s a solution for that, too.
BinBit Pro Platform
PreMade BinBot Pro Settings
Not too knowledgeable when it comes to trading indicators? Don’t have the time to set all the pieces up? Don’t fear, these will done by BinBot Pro for you. When you log into your account, you will see the algorithm level of your robot and your potential profit. These values can change, as there are several types of algorithms your robot can utilize, and they have already been modified for you in the list of top 10 robots you can see on the left side of your laptop screen. Simply select one and you’ll get a short description of it and the data you need about its algo level and potential profit. Think of those as robot templates the BinBot Pro company has created for you. The higher the algo lever, the more sophisticated your robot will be. Please note, nonetheless, that some robots on that list may need a much bigger initial deposit than those 250 USD we talked about earlier. Nevertheless, we can say that, given the amount of customization you are able to do, you don’t simply get one robot here – you may flip it into a number of very different and really interesting products. Naturally, you aren’t restricted to using a single version at a time: when you have sufficient funds, be happy to activate a number of robots concurrently and then watch them go. The alternative is totally up to you. Should you still need some questions answered before you proceed to make your investment, however, all you need to do is talk to the support team.
BinBot Pro Has an Excellent Support Team
Yes, there are people on this website always looking for you and ready to assist, and we believe the standard of their work deserves a paragraph of its own in this BinBotPro review. You see, not only are these individuals friendly, helpful and competent, but they can be reached very easily if you use the live chat that’s embedded in the website. This is a wonderful way to find out everything you need to know and a big plus for BinBot Pro company in general because some of their opponents don’t offer this function. If you can not find anybody online on the chat, simply use the support e-mail on the bottom of the website, and you’ll receive your reply shortly. We should also point out that the website is available in eight completely different languages, from English and French to Chinese and Arabic. So, thumbs up for the best way these individuals care for you – you are definitely in very capable hands right here.
BinBit Pro Home Page
Binbot Pro Testimonials
It is always very attention-grabbing to see what other traders say for a product like this, particularly since many individuals are sceptical about how much it can help them. We found plenty of positive BinBot Pro testimonials on the market, plus the feedback we acquired from many different traders who use this robot regularly is also fairly positive – 82-87% success rate. This is in accordance with the number the company states, which we mentioned earlier (90%), so we can conclude that these guys are not fraud and that they really are trustworthy in regards to the high quality of this trading bot. Keep in mind, though, that using this robot is not a guarantee of profit, however the reality is that your chances are pretty high to come out of it with a better account balance than when you entered. A great proof of that are the prizes the bot has won, and there’s even one for the best binary robot in 2016 displayed on the website. This brings us to the issue of reliability, so let’s resolve that once and for all. Do you need to worry about a BinBot Pro scam or not?
BinBot Pro Brokers
Is Binbot Pro a Scam?
Is BinBot Pro a scam? That’s what we want to reply in this part of the review. First of all, let’s recap what we’ve mentioned so far.
You can always depend on high quality support, be it through live chat or via e-mail, and solutions are always competent and are available rapidly. Therefore, we can say that you simply always have somebody to help you.
In addition, BinBot Pro testimonials are fairly positive, which means many people believe in using this robot.
You even have the choice of managing the way in which the robot behaves by selecting indicators and time frames wherein trades will be executed. So, it’s not like every type of control is taken away from you.
As for our personal impressions after this review, we can confirm that we never discovered a single hint of BinBot Pro scam. Everything works as promised, plus the brokers that are connected to this robot are pretty serious, too.
We noticed how the trades were executed and we really can’t say there were some glaring errors the software did. You can do this yourself because when you log in you’ll be notified of each trade the robot makes. In addition, you will have access to a graph when you turn the robot on, plus all of the currency pairs and the buy/sell sentiment regarding them are clearly seen.
Naturally, the trading history is also there so that you can analyse, which means you at all times know which steps the software took. The data you get through this feature is fairly detailed, so you can easily see if any form of BinBot Pro scam took place.
There are even some filtering options that can help you find what you need more quickly, which just goes to show how much individuals behind this software want to provide an excellent experience.
In short, everything is transparent, and you can easily report or clarify everything that worries you, should something like that ever pop up.
BinBot Pro Official WebSite – Have a Look
BinBot Pro Test Result (Live Trading Videos)
9.5 Total Score
Best Automated Binary Options Trading Software
Highly Recommended - The BinBot Pro is the most reliable trading software available on the market today which we reviewed. If you want a tool which will do all the heavy lifting for you when it comes to binary options trading and relieve you of stress this kind of trading brings, link your account to this robot today. After that, all you have to do is monitor your balance.
Credibility
9.2
Easy of Use
9.3
Performance (ITM)
9.7
Reliability
9.8
PROS
Quick Setup - Begin Trading in Minutes
One-Click, 100% Auto-Pilot Trading
No Trading Experience Needed
Wide Range of Robots to Experiment
82% - 90% Winning Rate
Regulated Brokers
Ability To Set Trade Limits
Secure & Safe - Automated Stop Loss
24/5 Best Signal and Support
CONS
No offline trade
Needs an internet connection to work at all times
User Rating: 9.3 (2426 votes)
BinBot Pro Review Conclusion
And that’s pretty much it for this BinBot Pro review. We will emphasize once again that it’s very easy to start using this robot, but be aware that only three brokers are supported at the moment. In addition, this product is meant to help you with binary options and binary options alone. The high success rate and profitability numbers that are mentioned by the software’s creators seem to check out, but if you want to be sure, there is always the option of using a demo version to see how things work out. At all times you have the option to contact someone from the support who will be able to help you and answer your question, be it by live chat or by sending you an e-mail. Taking all of that into consideration, it’s not a surprise that BinBot Pro testimonials are pretty positive overall, and that people generally do not consider this to be a scam. Therefore, if you want a tool which will do all the heavy lifting for you when it comes to binary options trading and relieve you of stress this kind of trading brings, link your account to this robot today. After that, all you have to do is monitor your balance.
BinBot Pro - Worlds' Best Trading Software
Most Relaible & All Country Accepted
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This post BinBot Pro Review – Best Automated Binary Options Trading Or Scam? is also available in YouTube as video BinBotPro Software Review BinBot Pro Software Scam Review Result ➤➤ https://www.youtube.com/watch?v=y68wqoSWf9A
Related reviews, you should read: BinBot Pro Results, Crypto Premier, Bitcoin Trader
The post BinBot Pro – Safest & Highly Recommended Binary Options Auto Trading Robot (Proofs Inside) appeared first on Review: Legit or Scam?.
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BinBot Pro – Safest & Highly Recommended Binary Options Auto Trading Robot
Do you live in a country like USA or Canada where using automated trading systems is a problem? If you do then now we have a very interesting trading software to show you. We’re often asked, what is a good way to trade automatically? The answer depends on your location unfortunately because not all credible services that we recommend are available world-wide. However, the BinBot Pro system is a very special exception, one that can be used in every country in this world. Besides that, there are many other reasons why this BinBot Pro scam free trading software is so reliable, accurate and trustworthy. Stick around, we are going to tell you all about this really cool automated binary options trading system in this BinBot Pro Review.
BinBot Pro Official WebSite – Have a Look
BinBot Pro Test Result (Live Trading Videos)
BinBot Pro Overview
Let’s begin with a quick overview of what BinBot Pro really is. Like we mentioned earlier, it’s a binary options trading software, which means you can modify it to behave a certain way in certain market conditions for that specific type of trades. Based on those parameters, the bot will execute trades on your behalf. The advantages of this are that you simply don’t get stressed out, the worry doesn’t cause you to miss out on a beneficial trade and the entire thing is in motion even if you’re not in front of your laptop. You don’t have to download anything, simply sync your account to this robot and the software will do everything for you. Nice and easy. The numbers talked about here are fairly spectacular, since the robot boasts a 90% success rate and possible payouts of up to 200%. Of course, these information are simply the basics, and we will go into much more detail in the rest of this review. First, however, let’s see what the first step you need to make is. Keep reading, BinBot Pro review is simply getting started!
How to Join BinBot Pro
If you want to start using this trading robot, you’ll have to create an account on its website first. The process of account creation is very easy, but it surely does have some neat particulars integrated into it. For instance, though this is purely a binary options robot, you can select to open an account in cryptocurrencies (Bitcoin or Litecoin, the choice is yours) or in EUR or USD. Apart from that, you only need to enter your name, cellphone and e-mail address, choose your password and click on the button on the bottom of the form. Oh, there’s yet another thing you’ll have to do before you can complete this process full, which is to choose which broker account you want to connect this robot to. There are three BinBot Pro brokers to choose from: BinaryCent, VideForex and RaceOption. Therefore, you’ll need an initial deposit of 250 USD in case your account is empty to get started. Nothing out of the ordinary. Once you choose the account, the robot will start working. How? We will let you know that story within the subsequent part of this BinBot Pro review.
BinBot Pro Registration
How Does Binbot Pro Work?
OK, so that you’ve completed the registration process and linked your trading account to BinBotPro. Now what? Well, you aren’t fully powerless when you get things rolling because that might just about imply this whole setup is a scam. In reality, there are a number of parameters you can set if you wish to instruct your robot how to behave in certain conditions. You do that by selecting which indicators the robot ought to take note of. There are six of them in total (ADM Index, Commodity Channel Index, Momentum, RSI, RVI and AROON), and you need to select a minimum of three of them. In addition to that, you also select how big the duration will be, which is expressed in minutes.
BinBot Pro Demo
However, we also discovered the option of activating a BinBot Pro demo. A wonderful thing about this is that it can be done without you ever having to invest any money, which means you can check issues out without any financial risk to you. Simply select one of the three brokers you don’t have an account with, then just don’t deposit anything and click on on the “Robot Demo” button that will appear in front of you when you log in. By utilizing the demo version, it is possible for you to verify BinBot Pro scams on your own and then decide whether or not you want to use this trading device. If you decide you want to do this, but don’t want to fiddle around with the settings, there’s a solution for that, too.
BinBit Pro Platform
PreMade BinBot Pro Settings
Not too knowledgeable when it comes to trading indicators? Don’t have the time to set all the pieces up? Don’t fear, these will done by BinBot Pro for you. When you log into your account, you will see the algorithm level of your robot and your potential profit. These values can change, as there are several types of algorithms your robot can utilize, and they have already been modified for you in the list of top 10 robots you can see on the left side of your laptop screen. Simply select one and you’ll get a short description of it and the data you need about its algo level and potential profit. Think of those as robot templates the BinBot Pro company has created for you. The higher the algo lever, the more sophisticated your robot will be. Please note, nonetheless, that some robots on that list may need a much bigger initial deposit than those 250 USD we talked about earlier. Nevertheless, we can say that, given the amount of customization you are able to do, you don’t simply get one robot here – you may flip it into a number of very different and really interesting products. Naturally, you aren’t restricted to using a single version at a time: when you have sufficient funds, be happy to activate a number of robots concurrently and then watch them go. The alternative is totally up to you. Should you still need some questions answered before you proceed to make your investment, however, all you need to do is talk to the support team.
BinBot Pro Has an Excellent Support Team
Yes, there are people on this website always looking for you and ready to assist, and we believe the standard of their work deserves a paragraph of its own in this BinBotPro review. You see, not only are these individuals friendly, helpful and competent, but they can be reached very easily if you use the live chat that’s embedded in the website. This is a wonderful way to find out everything you need to know and a big plus for BinBot Pro company in general because some of their opponents don’t offer this function. If you can not find anybody online on the chat, simply use the support e-mail on the bottom of the website, and you’ll receive your reply shortly. We should also point out that the website is available in eight completely different languages, from English and French to Chinese and Arabic. So, thumbs up for the best way these individuals care for you – you are definitely in very capable hands right here.
BinBit Pro Home Page
Binbot Pro Testimonials
It is always very attention-grabbing to see what other traders say for a product like this, particularly since many individuals are sceptical about how much it can help them. We found plenty of positive BinBot Pro testimonials on the market, plus the feedback we acquired from many different traders who use this robot regularly is also fairly positive – 82-87% success rate. This is in accordance with the number the company states, which we mentioned earlier (90%), so we can conclude that these guys are not fraud and that they really are trustworthy in regards to the high quality of this trading bot. Keep in mind, though, that using this robot is not a guarantee of profit, however the reality is that your chances are pretty high to come out of it with a better account balance than when you entered. A great proof of that are the prizes the bot has won, and there’s even one for the best binary robot in 2016 displayed on the website. This brings us to the issue of reliability, so let’s resolve that once and for all. Do you need to worry about a BinBot Pro scam or not?
BinBot Pro Brokers
Is Binbot Pro a Scam?
Is BinBot Pro a scam? That’s what we want to reply in this part of the review. First of all, let’s recap what we’ve mentioned so far.
You can always depend on high quality support, be it through live chat or via e-mail, and solutions are always competent and are available rapidly. Therefore, we can say that you simply always have somebody to help you.
In addition, BinBot Pro testimonials are fairly positive, which means many people believe in using this robot.
You even have the choice of managing the way in which the robot behaves by selecting indicators and time frames wherein trades will be executed. So, it’s not like every type of control is taken away from you.
As for our personal impressions after this review, we can confirm that we never discovered a single hint of BinBot Pro scam. Everything works as promised, plus the brokers that are connected to this robot are pretty serious, too.
We noticed how the trades were executed and we really can’t say there were some glaring errors the software did. You can do this yourself because when you log in you’ll be notified of each trade the robot makes. In addition, you will have access to a graph when you turn the robot on, plus all of the currency pairs and the buy/sell sentiment regarding them are clearly seen.
Naturally, the trading history is also there so that you can analyse, which means you at all times know which steps the software took. The data you get through this feature is fairly detailed, so you can easily see if any form of BinBot Pro scam took place.
There are even some filtering options that can help you find what you need more quickly, which just goes to show how much individuals behind this software want to provide an excellent experience.
In short, everything is transparent, and you can easily report or clarify everything that worries you, should something like that ever pop up.
BinBot Pro Official WebSite – Have a Look
BinBot Pro Test Result (Live Trading Videos)
9.5 Total Score
Best Automated Binary Options Trading Software
Highly Recommended - The BinBot Pro is the most reliable trading software available on the market today which we reviewed. If you want a tool which will do all the heavy lifting for you when it comes to binary options trading and relieve you of stress this kind of trading brings, link your account to this robot today. After that, all you have to do is monitor your balance.
PROS
Quick Setup - Begin Trading in Minutes
One-Click, 100% Auto-Pilot Trading
No Trading Experience Needed
Wide Range of Robots to Experiment
82% - 90% Winning Rate
Regulated Brokers
Ability To Set Trade Limits
Secure & Safe - Automated Stop Loss
24/5 Best Signal and Support
CONS
No offline trade
Needs an internet connection to work at all times
User Rating: Be the first one!
BinBot Pro Review Conclusion
And that’s pretty much it for this BinBot Pro review. We will emphasize once again that it’s very easy to start using this robot, but be aware that only three brokers are supported at the moment. In addition, this product is meant to help you with binary options and binary options alone. The high success rate and profitability numbers that are mentioned by the software’s creators seem to check out, but if you want to be sure, there is always the option of using a demo version to see how things work out. At all times you have the option to contact someone from the support who will be able to help you and answer your question, be it by live chat or by sending you an e-mail. Taking all of that into consideration, it’s not a surprise that BinBot Pro testimonials are pretty positive overall, and that people generally do not consider this to be a scam. Therefore, if you want a tool which will do all the heavy lifting for you when it comes to binary options trading and relieve you of stress this kind of trading brings, link your account to this robot today. After that, all you have to do is monitor your balance.
BinBot Pro - Worlds' Best Trading Software
Most Relaible & All Country Accepted
Demo & Pro Version
Try It Now
This post BinBot Pro Review – Best Automated Binary Options Trading Or Scam? is also available in YouTube as video BinBotPro Software Review BinBot Pro Software Scam Review Result ➤➤ https://www.youtube.com/watch?v=y68wqoSWf9A
Related reviews, you should read: BinBot Pro Results, Crypto Premier, Bitcoin Trader
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Bitcoin SV Was the Best Performing Crypto in May – And it Wasn’t Close
The cryptocurrency markets saw rapid growth in May with quite a few outshining the largest by market capitalization, bitcoin.
The leading cryptocurrency drew most of the attention, rising 67 percent from $5,265 on May 1st to $8,900 by month’s end. A considerable amount of the gains happened in the lead up to the New York Blockchain event, that took place during the second week of May.
For instance, sharp rallies in bitcoin’s price on May 11 and May 13 pushed its price tag above $7,000 and then $8,000 for the first time in over a year.
Despite logging its best monthly gain since 2017 however, BTC ranks tenth on the list of May’s best-performing cryptocurrencies, according to Messari.io data.
Names like Chainlink (LINK), Dent (DENT), bitcoin SV (BSV), Holochain (HOT) and bitcoin gold (BTG) took a clear lead, each rising between 65 and 256 percent against their respective trading pairs with the U.S dollar.
The total capitalization of the broader market excluding bitcoin reflected the growth by rising to $125.6 billion on May 30th– its highest value in nearly 10 months.
Bitcoin pairings
The performance of individual altcoins when paired against BTC fared much worse, however.
Ether’s pairing with BTC, for example, found itself still unable to scale its 200-day moving average for much of the month, and at the time of writing has only increased roughly 2 percent since May 1 whereas its USD pair is currently up over 60 percent in the same time span.
Such a discrepancy between the performance of both pairs can be attributed to bitcoin’s price rally inflated the USD value of most altcoins why devaluing it value in BTC terms.
That said, a number of cryptocurrencies were able to flash strong performances in both categories, case in point being the top five performers for the month of May seen below.
Top 5 Monthly Performers In May
BSV | Price: $197 | MCAP: $3.5 billion | Percent Change: +231 percent
The crypto project aptly named ‘Satoshi’s Vision’ claims to be the “original bitcoin,” by restoring BTC’s first protocol while stating that it can massively scale with increased stability.
Bitcoin SV had a remarkable run during May and was the clear leader during the second half of the month after prices broke out on May 21, bringing it back above the elusive $100 price tag.
Prices peaked at $252 according to data from Bittrex after landing itself in overbought territory and triggering a pullback, as shown by the daily relative strength index (RSI) exceeding a value of 70.
BSV/USD remains bullishly bid above a technical resistance level of $148, but a strong close below could re-expose the $90 support in the coming weeks.
LINK | Price: $1.01 | MCAP: $364.3 million | Percent Change: +96 percent
Chainlink’s (LINK) staggering 200 percent rise in mid-May suffered a setback as the monthly close approached, but today remains 96 percent up on the month, placing it firmly in 2nd place within the top 5 performers for May.
Concerns are now building for greater drawdown, courtesy of a candle close below the 38.2 percent Fibonacci retracement line on the daily chart, exposing the neutral pivot along the 50 percent retracement at $0.84.
Prices remain bullishly bid above the 200-daily moving average (red line) and above a key resistance that became support at $0.68, but expect a pullback if its price breaks below the neutral 50 percent retracement.
DENT | Price: $0.001747 | MCAP: $124.1 million | Percent Change: 78 percent
DENT is a token issued on the ethereum blockchain that aims to facilitate global communications via its platform and service offerings.
Its performance on the month was bullish to say the least, concluding May with a 78 percent higher price than it started and ranking as the 3rd best performer of the month.
However, recent market developments have thrown into contention the short-term bullish trend as prices dipped below a key support by the time the monthly trading period came to a close.
Similar to that of LINK, the longer term view remains bullish while trading above the 200-day moving average (red line), which looks set to complete positive crossover with the 100-day moving average on another significant upward move.
BTG | Price: $26.71 | MCAP: $475.8 million | Percent Change: +64 percent
Bitcoin Gold (BTG), yet another bitcoin fork, changed BTC’s proof-of-work algorithm from SHA256 to Equihash, rendering specialized mining equipment obsolete in an attempt to democratize the mining process.
Traders heavily favored BTG buy opportunities in May, leading it to place as the 5th best-performing crypto this month, outperforming other notable bitcoin forks such as bitcoin diamond (BCD) and bitcoin private (BTCP).
BTG’s rising channel spanning more than four months looks set to break down courtesy of a rising wedge (bear reversal pattern) residing within the channel’s most recent price action. In addition, a long upper wick on the daily timeframe is evidence strong sell pressure still exists above $30.
Should momentum falter here, a drop in value toward the 61.8 percent Fibonacci retracement line at $20.34 may be in the offing, but will remain bullish so long as the channel pattern holds.
HOT | Price: $0.002165 | MCAP: $288.4 million | Percent Change: +74 percent
Holochain (HOT) is a decentralized application platform that uses peer-to-peer networking for processing agent-centric agreement and consensus mechanisms between users.
Beginning in late May, HOT managed to break a key resistance zone of $0.0016, carving out a further 57 percent rise in value before prices peaked at $0.0027 on May 29.
From there it has been a downhill battle for HOT with the forfeiture of the 38.2 percent retracement line opening up the neutral pivot point at $0.0018 (50 percent retracement).
If prices continue to falter, buying pressure is likely to support HOT near $0.0016 due to it being a previous resistance zone.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Balloons image via Shutterstock; charts by Trading View
This news post is collected from CoinDesk
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BinBot Pro – Safest & Highly Recommended Binary Options Auto Trading Robot
Do you live in a country like USA or Canada where using automated trading systems is a problem? If you do then now we ...
9.5
Demo & Pro Version Try It Now
Read full review
The post Bitcoin SV Was the Best Performing Crypto in May – And it Wasn’t Close appeared first on Click 2 Watch.
More Details Here → https://click2.watch/bitcoin-sv-was-the-best-performing-crypto-in-may-and-it-wasnt-close-6
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Bitcoin SV Was the Best Performing Crypto in May – And it Wasn’t Close
The cryptocurrency markets saw rapid growth in May with quite a few outshining the largest by market capitalization, bitcoin.
The leading cryptocurrency drew most of the attention, rising 67 percent from $5,265 on May 1st to $8,900 by month’s end. A considerable amount of the gains happened in the lead up to the New York Blockchain event, that took place during the second week of May.
For instance, sharp rallies in bitcoin’s price on May 11 and May 13 pushed its price tag above $7,000 and then $8,000 for the first time in over a year.
Despite logging its best monthly gain since 2017 however, BTC ranks tenth on the list of May’s best-performing cryptocurrencies, according to Messari.io data.
Names like Chainlink (LINK), Dent (DENT), bitcoin SV (BSV), Holochain (HOT) and bitcoin gold (BTG) took a clear lead, each rising between 65 and 256 percent against their respective trading pairs with the U.S dollar.
The total capitalization of the broader market excluding bitcoin reflected the growth by rising to $125.6 billion on May 30th– its highest value in nearly 10 months.
Bitcoin pairings
The performance of individual altcoins when paired against BTC fared much worse, however.
Ether’s pairing with BTC, for example, found itself still unable to scale its 200-day moving average for much of the month, and at the time of writing has only increased roughly 2 percent since May 1 whereas its USD pair is currently up over 60 percent in the same time span.
Such a discrepancy between the performance of both pairs can be attributed to bitcoin’s price rally inflated the USD value of most altcoins why devaluing it value in BTC terms.
That said, a number of cryptocurrencies were able to flash strong performances in both categories, case in point being the top five performers for the month of May seen below.
Top 5 Monthly Performers In May
BSV | Price: $197 | MCAP: $3.5 billion | Percent Change: +231 percent
The crypto project aptly named ‘Satoshi’s Vision’ claims to be the “original bitcoin,” by restoring BTC’s first protocol while stating that it can massively scale with increased stability.
Bitcoin SV had a remarkable run during May and was the clear leader during the second half of the month after prices broke out on May 21, bringing it back above the elusive $100 price tag.
Prices peaked at $252 according to data from Bittrex after landing itself in overbought territory and triggering a pullback, as shown by the daily relative strength index (RSI) exceeding a value of 70.
BSV/USD remains bullishly bid above a technical resistance level of $148, but a strong close below could re-expose the $90 support in the coming weeks.
LINK | Price: $1.01 | MCAP: $364.3 million | Percent Change: +96 percent
Chainlink’s (LINK) staggering 200 percent rise in mid-May suffered a setback as the monthly close approached, but today remains 96 percent up on the month, placing it firmly in 2nd place within the top 5 performers for May.
Concerns are now building for greater drawdown, courtesy of a candle close below the 38.2 percent Fibonacci retracement line on the daily chart, exposing the neutral pivot along the 50 percent retracement at $0.84.
Prices remain bullishly bid above the 200-daily moving average (red line) and above a key resistance that became support at $0.68, but expect a pullback if its price breaks below the neutral 50 percent retracement.
DENT | Price: $0.001747 | MCAP: $124.1 million | Percent Change: 78 percent
DENT is a token issued on the ethereum blockchain that aims to facilitate global communications via its platform and service offerings.
Its performance on the month was bullish to say the least, concluding May with a 78 percent higher price than it started and ranking as the 3rd best performer of the month.
However, recent market developments have thrown into contention the short-term bullish trend as prices dipped below a key support by the time the monthly trading period came to a close.
Similar to that of LINK, the longer term view remains bullish while trading above the 200-day moving average (red line), which looks set to complete positive crossover with the 100-day moving average on another significant upward move.
BTG | Price: $26.71 | MCAP: $475.8 million | Percent Change: +64 percent
Bitcoin Gold (BTG), yet another bitcoin fork, changed BTC’s proof-of-work algorithm from SHA256 to Equihash, rendering specialized mining equipment obsolete in an attempt to democratize the mining process.
Traders heavily favored BTG buy opportunities in May, leading it to place as the 5th best-performing crypto this month, outperforming other notable bitcoin forks such as bitcoin diamond (BCD) and bitcoin private (BTCP).
BTG’s rising channel spanning more than four months looks set to break down courtesy of a rising wedge (bear reversal pattern) residing within the channel’s most recent price action. In addition, a long upper wick on the daily timeframe is evidence strong sell pressure still exists above $30.
Should momentum falter here, a drop in value toward the 61.8 percent Fibonacci retracement line at $20.34 may be in the offing, but will remain bullish so long as the channel pattern holds.
HOT | Price: $0.002165 | MCAP: $288.4 million | Percent Change: +74 percent
Holochain (HOT) is a decentralized application platform that uses peer-to-peer networking for processing agent-centric agreement and consensus mechanisms between users.
Beginning in late May, HOT managed to break a key resistance zone of $0.0016, carving out a further 57 percent rise in value before prices peaked at $0.0027 on May 29.
From there it has been a downhill battle for HOT with the forfeiture of the 38.2 percent retracement line opening up the neutral pivot point at $0.0018 (50 percent retracement).
If prices continue to falter, buying pressure is likely to support HOT near $0.0016 due to it being a previous resistance zone.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Balloons image via Shutterstock; charts by Trading View
This news post is collected from CoinDesk
Recommended Read
Editor choice
BinBot Pro – Safest & Highly Recommended Binary Options Auto Trading Robot
Do you live in a country like USA or Canada where using automated trading systems is a problem? If you do then now we ...
9.5
Demo & Pro Version Try It Now
Read full review
The post Bitcoin SV Was the Best Performing Crypto in May – And it Wasn’t Close appeared first on Click 2 Watch.
More Details Here → https://click2.watch/bitcoin-sv-was-the-best-performing-crypto-in-may-and-it-wasnt-close-5
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Bitcoin SV Was the Best Performing Crypto in May – And it Wasn’t Close
The cryptocurrency markets saw rapid growth in May with quite a few outshining the largest by market capitalization, bitcoin.
The leading cryptocurrency drew most of the attention, rising 67 percent from $5,265 on May 1st to $8,900 by month’s end. A considerable amount of the gains happened in the lead up to the New York Blockchain event, that took place during the second week of May.
For instance, sharp rallies in bitcoin’s price on May 11 and May 13 pushed its price tag above $7,000 and then $8,000 for the first time in over a year.
Despite logging its best monthly gain since 2017 however, BTC ranks tenth on the list of May’s best-performing cryptocurrencies, according to Messari.io data.
Names like Chainlink (LINK), Dent (DENT), bitcoin SV (BSV), Holochain (HOT) and bitcoin gold (BTG) took a clear lead, each rising between 65 and 256 percent against their respective trading pairs with the U.S dollar.
The total capitalization of the broader market excluding bitcoin reflected the growth by rising to $125.6 billion on May 30th– its highest value in nearly 10 months.
Bitcoin pairings
The performance of individual altcoins when paired against BTC fared much worse, however.
Ether’s pairing with BTC, for example, found itself still unable to scale its 200-day moving average for much of the month, and at the time of writing has only increased roughly 2 percent since May 1 whereas its USD pair is currently up over 60 percent in the same time span.
Such a discrepancy between the performance of both pairs can be attributed to bitcoin’s price rally inflated the USD value of most altcoins why devaluing it value in BTC terms.
That said, a number of cryptocurrencies were able to flash strong performances in both categories, case in point being the top five performers for the month of May seen below.
Top 5 Monthly Performers In May
BSV | Price: $197 | MCAP: $3.5 billion | Percent Change: +231 percent
The crypto project aptly named ‘Satoshi’s Vision’ claims to be the “original bitcoin,” by restoring BTC’s first protocol while stating that it can massively scale with increased stability.
Bitcoin SV had a remarkable run during May and was the clear leader during the second half of the month after prices broke out on May 21, bringing it back above the elusive $100 price tag.
Prices peaked at $252 according to data from Bittrex after landing itself in overbought territory and triggering a pullback, as shown by the daily relative strength index (RSI) exceeding a value of 70.
BSV/USD remains bullishly bid above a technical resistance level of $148, but a strong close below could re-expose the $90 support in the coming weeks.
LINK | Price: $1.01 | MCAP: $364.3 million | Percent Change: +96 percent
Chainlink’s (LINK) staggering 200 percent rise in mid-May suffered a setback as the monthly close approached, but today remains 96 percent up on the month, placing it firmly in 2nd place within the top 5 performers for May.
Concerns are now building for greater drawdown, courtesy of a candle close below the 38.2 percent Fibonacci retracement line on the daily chart, exposing the neutral pivot along the 50 percent retracement at $0.84.
Prices remain bullishly bid above the 200-daily moving average (red line) and above a key resistance that became support at $0.68, but expect a pullback if its price breaks below the neutral 50 percent retracement.
DENT | Price: $0.001747 | MCAP: $124.1 million | Percent Change: 78 percent
DENT is a token issued on the ethereum blockchain that aims to facilitate global communications via its platform and service offerings.
Its performance on the month was bullish to say the least, concluding May with a 78 percent higher price than it started and ranking as the 3rd best performer of the month.
However, recent market developments have thrown into contention the short-term bullish trend as prices dipped below a key support by the time the monthly trading period came to a close.
Similar to that of LINK, the longer term view remains bullish while trading above the 200-day moving average (red line), which looks set to complete positive crossover with the 100-day moving average on another significant upward move.
BTG | Price: $26.71 | MCAP: $475.8 million | Percent Change: +64 percent
Bitcoin Gold (BTG), yet another bitcoin fork, changed BTC’s proof-of-work algorithm from SHA256 to Equihash, rendering specialized mining equipment obsolete in an attempt to democratize the mining process.
Traders heavily favored BTG buy opportunities in May, leading it to place as the 5th best-performing crypto this month, outperforming other notable bitcoin forks such as bitcoin diamond (BCD) and bitcoin private (BTCP).
BTG’s rising channel spanning more than four months looks set to break down courtesy of a rising wedge (bear reversal pattern) residing within the channel’s most recent price action. In addition, a long upper wick on the daily timeframe is evidence strong sell pressure still exists above $30.
Should momentum falter here, a drop in value toward the 61.8 percent Fibonacci retracement line at $20.34 may be in the offing, but will remain bullish so long as the channel pattern holds.
HOT | Price: $0.002165 | MCAP: $288.4 million | Percent Change: +74 percent
Holochain (HOT) is a decentralized application platform that uses peer-to-peer networking for processing agent-centric agreement and consensus mechanisms between users.
Beginning in late May, HOT managed to break a key resistance zone of $0.0016, carving out a further 57 percent rise in value before prices peaked at $0.0027 on May 29.
From there it has been a downhill battle for HOT with the forfeiture of the 38.2 percent retracement line opening up the neutral pivot point at $0.0018 (50 percent retracement).
If prices continue to falter, buying pressure is likely to support HOT near $0.0016 due to it being a previous resistance zone.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Balloons image via Shutterstock; charts by Trading View
This news post is collected from CoinDesk
Recommended Read
Editor choice
BinBot Pro – Safest & Highly Recommended Binary Options Auto Trading Robot
Do you live in a country like USA or Canada where using automated trading systems is a problem? If you do then now we ...
9.5
Demo & Pro Version Try It Now
Read full review
The post Bitcoin SV Was the Best Performing Crypto in May – And it Wasn’t Close appeared first on Click 2 Watch.
More Details Here → https://click2.watch/bitcoin-sv-was-the-best-performing-crypto-in-may-and-it-wasnt-close-4
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Bitcoin SV Was the Best Performing Crypto in May – And it Wasn’t Close
The cryptocurrency markets saw rapid growth in May with quite a few outshining the largest by market capitalization, bitcoin.
The leading cryptocurrency drew most of the attention, rising 67 percent from $5,265 on May 1st to $8,900 by month’s end. A considerable amount of the gains happened in the lead up to the New York Blockchain event, that took place during the second week of May.
For instance, sharp rallies in bitcoin’s price on May 11 and May 13 pushed its price tag above $7,000 and then $8,000 for the first time in over a year.
Despite logging its best monthly gain since 2017 however, BTC ranks tenth on the list of May’s best-performing cryptocurrencies, according to Messari.io data.
Names like Chainlink (LINK), Dent (DENT), bitcoin SV (BSV), Holochain (HOT) and bitcoin gold (BTG) took a clear lead, each rising between 65 and 256 percent against their respective trading pairs with the U.S dollar.
The total capitalization of the broader market excluding bitcoin reflected the growth by rising to $125.6 billion on May 30th– its highest value in nearly 10 months.
Bitcoin pairings
The performance of individual altcoins when paired against BTC fared much worse, however.
Ether’s pairing with BTC, for example, found itself still unable to scale its 200-day moving average for much of the month, and at the time of writing has only increased roughly 2 percent since May 1 whereas its USD pair is currently up over 60 percent in the same time span.
Such a discrepancy between the performance of both pairs can be attributed to bitcoin’s price rally inflated the USD value of most altcoins why devaluing it value in BTC terms.
That said, a number of cryptocurrencies were able to flash strong performances in both categories, case in point being the top five performers for the month of May seen below.
Top 5 Monthly Performers In May
BSV | Price: $197 | MCAP: $3.5 billion | Percent Change: +231 percent
The crypto project aptly named ‘Satoshi’s Vision’ claims to be the “original bitcoin,” by restoring BTC’s first protocol while stating that it can massively scale with increased stability.
Bitcoin SV had a remarkable run during May and was the clear leader during the second half of the month after prices broke out on May 21, bringing it back above the elusive $100 price tag.
Prices peaked at $252 according to data from Bittrex after landing itself in overbought territory and triggering a pullback, as shown by the daily relative strength index (RSI) exceeding a value of 70.
BSV/USD remains bullishly bid above a technical resistance level of $148, but a strong close below could re-expose the $90 support in the coming weeks.
LINK | Price: $1.01 | MCAP: $364.3 million | Percent Change: +96 percent
Chainlink’s (LINK) staggering 200 percent rise in mid-May suffered a setback as the monthly close approached, but today remains 96 percent up on the month, placing it firmly in 2nd place within the top 5 performers for May.
Concerns are now building for greater drawdown, courtesy of a candle close below the 38.2 percent Fibonacci retracement line on the daily chart, exposing the neutral pivot along the 50 percent retracement at $0.84.
Prices remain bullishly bid above the 200-daily moving average (red line) and above a key resistance that became support at $0.68, but expect a pullback if its price breaks below the neutral 50 percent retracement.
DENT | Price: $0.001747 | MCAP: $124.1 million | Percent Change: 78 percent
DENT is a token issued on the ethereum blockchain that aims to facilitate global communications via its platform and service offerings.
Its performance on the month was bullish to say the least, concluding May with a 78 percent higher price than it started and ranking as the 3rd best performer of the month.
However, recent market developments have thrown into contention the short-term bullish trend as prices dipped below a key support by the time the monthly trading period came to a close.
Similar to that of LINK, the longer term view remains bullish while trading above the 200-day moving average (red line), which looks set to complete positive crossover with the 100-day moving average on another significant upward move.
BTG | Price: $26.71 | MCAP: $475.8 million | Percent Change: +64 percent
Bitcoin Gold (BTG), yet another bitcoin fork, changed BTC’s proof-of-work algorithm from SHA256 to Equihash, rendering specialized mining equipment obsolete in an attempt to democratize the mining process.
Traders heavily favored BTG buy opportunities in May, leading it to place as the 5th best-performing crypto this month, outperforming other notable bitcoin forks such as bitcoin diamond (BCD) and bitcoin private (BTCP).
BTG’s rising channel spanning more than four months looks set to break down courtesy of a rising wedge (bear reversal pattern) residing within the channel’s most recent price action. In addition, a long upper wick on the daily timeframe is evidence strong sell pressure still exists above $30.
Should momentum falter here, a drop in value toward the 61.8 percent Fibonacci retracement line at $20.34 may be in the offing, but will remain bullish so long as the channel pattern holds.
HOT | Price: $0.002165 | MCAP: $288.4 million | Percent Change: +74 percent
Holochain (HOT) is a decentralized application platform that uses peer-to-peer networking for processing agent-centric agreement and consensus mechanisms between users.
Beginning in late May, HOT managed to break a key resistance zone of $0.0016, carving out a further 57 percent rise in value before prices peaked at $0.0027 on May 29.
From there it has been a downhill battle for HOT with the forfeiture of the 38.2 percent retracement line opening up the neutral pivot point at $0.0018 (50 percent retracement).
If prices continue to falter, buying pressure is likely to support HOT near $0.0016 due to it being a previous resistance zone.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Balloons image via Shutterstock; charts by Trading View
This news post is collected from CoinDesk
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Bitcoin SV Was the Best Performing Crypto in May – And it Wasn’t Close
The cryptocurrency markets saw rapid growth in May with quite a few outshining the largest by market capitalization, bitcoin.
The leading cryptocurrency drew most of the attention, rising 67 percent from $5,265 on May 1st to $8,900 by month’s end. A considerable amount of the gains happened in the lead up to the New York Blockchain event, that took place during the second week of May.
For instance, sharp rallies in bitcoin’s price on May 11 and May 13 pushed its price tag above $7,000 and then $8,000 for the first time in over a year.
Despite logging its best monthly gain since 2017 however, BTC ranks tenth on the list of May’s best-performing cryptocurrencies, according to Messari.io data.
Names like Chainlink (LINK), Dent (DENT), bitcoin SV (BSV), Holochain (HOT) and bitcoin gold (BTG) took a clear lead, each rising between 65 and 256 percent against their respective trading pairs with the U.S dollar.
The total capitalization of the broader market excluding bitcoin reflected the growth by rising to $125.6 billion on May 30th– its highest value in nearly 10 months.
Bitcoin pairings
The performance of individual altcoins when paired against BTC fared much worse, however.
Ether’s pairing with BTC, for example, found itself still unable to scale its 200-day moving average for much of the month, and at the time of writing has only increased roughly 2 percent since May 1 whereas its USD pair is currently up over 60 percent in the same time span.
Such a discrepancy between the performance of both pairs can be attributed to bitcoin’s price rally inflated the USD value of most altcoins why devaluing it value in BTC terms.
That said, a number of cryptocurrencies were able to flash strong performances in both categories, case in point being the top five performers for the month of May seen below.
Top 5 Monthly Performers In May
BSV | Price: $197 | MCAP: $3.5 billion | Percent Change: +231 percent
The crypto project aptly named ‘Satoshi’s Vision’ claims to be the “original bitcoin,” by restoring BTC’s first protocol while stating that it can massively scale with increased stability.
Bitcoin SV had a remarkable run during May and was the clear leader during the second half of the month after prices broke out on May 21, bringing it back above the elusive $100 price tag.
Prices peaked at $252 according to data from Bittrex after landing itself in overbought territory and triggering a pullback, as shown by the daily relative strength index (RSI) exceeding a value of 70.
BSV/USD remains bullishly bid above a technical resistance level of $148, but a strong close below could re-expose the $90 support in the coming weeks.
LINK | Price: $1.01 | MCAP: $364.3 million | Percent Change: +96 percent
Chainlink’s (LINK) staggering 200 percent rise in mid-May suffered a setback as the monthly close approached, but today remains 96 percent up on the month, placing it firmly in 2nd place within the top 5 performers for May.
Concerns are now building for greater drawdown, courtesy of a candle close below the 38.2 percent Fibonacci retracement line on the daily chart, exposing the neutral pivot along the 50 percent retracement at $0.84.
Prices remain bullishly bid above the 200-daily moving average (red line) and above a key resistance that became support at $0.68, but expect a pullback if its price breaks below the neutral 50 percent retracement.
DENT | Price: $0.001747 | MCAP: $124.1 million | Percent Change: 78 percent
DENT is a token issued on the ethereum blockchain that aims to facilitate global communications via its platform and service offerings.
Its performance on the month was bullish to say the least, concluding May with a 78 percent higher price than it started and ranking as the 3rd best performer of the month.
However, recent market developments have thrown into contention the short-term bullish trend as prices dipped below a key support by the time the monthly trading period came to a close.
Similar to that of LINK, the longer term view remains bullish while trading above the 200-day moving average (red line), which looks set to complete positive crossover with the 100-day moving average on another significant upward move.
BTG | Price: $26.71 | MCAP: $475.8 million | Percent Change: +64 percent
Bitcoin Gold (BTG), yet another bitcoin fork, changed BTC’s proof-of-work algorithm from SHA256 to Equihash, rendering specialized mining equipment obsolete in an attempt to democratize the mining process.
Traders heavily favored BTG buy opportunities in May, leading it to place as the 5th best-performing crypto this month, outperforming other notable bitcoin forks such as bitcoin diamond (BCD) and bitcoin private (BTCP).
BTG’s rising channel spanning more than four months looks set to break down courtesy of a rising wedge (bear reversal pattern) residing within the channel’s most recent price action. In addition, a long upper wick on the daily timeframe is evidence strong sell pressure still exists above $30.
Should momentum falter here, a drop in value toward the 61.8 percent Fibonacci retracement line at $20.34 may be in the offing, but will remain bullish so long as the channel pattern holds.
HOT | Price: $0.002165 | MCAP: $288.4 million | Percent Change: +74 percent
Holochain (HOT) is a decentralized application platform that uses peer-to-peer networking for processing agent-centric agreement and consensus mechanisms between users.
Beginning in late May, HOT managed to break a key resistance zone of $0.0016, carving out a further 57 percent rise in value before prices peaked at $0.0027 on May 29.
From there it has been a downhill battle for HOT with the forfeiture of the 38.2 percent retracement line opening up the neutral pivot point at $0.0018 (50 percent retracement).
If prices continue to falter, buying pressure is likely to support HOT near $0.0016 due to it being a previous resistance zone.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Balloons image via Shutterstock; charts by Trading View
This news post is collected from CoinDesk
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Bitcoin SV Was the Best Performing Crypto in May – And it Wasn’t Close
The cryptocurrency markets saw rapid growth in May with quite a few outshining the largest by market capitalization, bitcoin.
The leading cryptocurrency drew most of the attention, rising 67 percent from $5,265 on May 1st to $8,900 by month’s end. A considerable amount of the gains happened in the lead up to the New York Blockchain event, that took place during the second week of May.
For instance, sharp rallies in bitcoin’s price on May 11 and May 13 pushed its price tag above $7,000 and then $8,000 for the first time in over a year.
Despite logging its best monthly gain since 2017 however, BTC ranks tenth on the list of May’s best-performing cryptocurrencies, according to Messari.io data.
Names like Chainlink (LINK), Dent (DENT), bitcoin SV (BSV), Holochain (HOT) and bitcoin gold (BTG) took a clear lead, each rising between 65 and 256 percent against their respective trading pairs with the U.S dollar.
The total capitalization of the broader market excluding bitcoin reflected the growth by rising to $125.6 billion on May 30th– its highest value in nearly 10 months.
Bitcoin pairings
The performance of individual altcoins when paired against BTC fared much worse, however.
Ether’s pairing with BTC, for example, found itself still unable to scale its 200-day moving average for much of the month, and at the time of writing has only increased roughly 2 percent since May 1 whereas its USD pair is currently up over 60 percent in the same time span.
Such a discrepancy between the performance of both pairs can be attributed to bitcoin’s price rally inflated the USD value of most altcoins why devaluing it value in BTC terms.
That said, a number of cryptocurrencies were able to flash strong performances in both categories, case in point being the top five performers for the month of May seen below.
Top 5 Monthly Performers In May
BSV | Price: $197 | MCAP: $3.5 billion | Percent Change: +231 percent
The crypto project aptly named ‘Satoshi’s Vision’ claims to be the “original bitcoin,” by restoring BTC’s first protocol while stating that it can massively scale with increased stability.
Bitcoin SV had a remarkable run during May and was the clear leader during the second half of the month after prices broke out on May 21, bringing it back above the elusive $100 price tag.
Prices peaked at $252 according to data from Bittrex after landing itself in overbought territory and triggering a pullback, as shown by the daily relative strength index (RSI) exceeding a value of 70.
BSV/USD remains bullishly bid above a technical resistance level of $148, but a strong close below could re-expose the $90 support in the coming weeks.
LINK | Price: $1.01 | MCAP: $364.3 million | Percent Change: +96 percent
Chainlink’s (LINK) staggering 200 percent rise in mid-May suffered a setback as the monthly close approached, but today remains 96 percent up on the month, placing it firmly in 2nd place within the top 5 performers for May.
Concerns are now building for greater drawdown, courtesy of a candle close below the 38.2 percent Fibonacci retracement line on the daily chart, exposing the neutral pivot along the 50 percent retracement at $0.84.
Prices remain bullishly bid above the 200-daily moving average (red line) and above a key resistance that became support at $0.68, but expect a pullback if its price breaks below the neutral 50 percent retracement.
DENT | Price: $0.001747 | MCAP: $124.1 million | Percent Change: 78 percent
DENT is a token issued on the ethereum blockchain that aims to facilitate global communications via its platform and service offerings.
Its performance on the month was bullish to say the least, concluding May with a 78 percent higher price than it started and ranking as the 3rd best performer of the month.
However, recent market developments have thrown into contention the short-term bullish trend as prices dipped below a key support by the time the monthly trading period came to a close.
Similar to that of LINK, the longer term view remains bullish while trading above the 200-day moving average (red line), which looks set to complete positive crossover with the 100-day moving average on another significant upward move.
BTG | Price: $26.71 | MCAP: $475.8 million | Percent Change: +64 percent
Bitcoin Gold (BTG), yet another bitcoin fork, changed BTC’s proof-of-work algorithm from SHA256 to Equihash, rendering specialized mining equipment obsolete in an attempt to democratize the mining process.
Traders heavily favored BTG buy opportunities in May, leading it to place as the 5th best-performing crypto this month, outperforming other notable bitcoin forks such as bitcoin diamond (BCD) and bitcoin private (BTCP).
BTG’s rising channel spanning more than four months looks set to break down courtesy of a rising wedge (bear reversal pattern) residing within the channel’s most recent price action. In addition, a long upper wick on the daily timeframe is evidence strong sell pressure still exists above $30.
Should momentum falter here, a drop in value toward the 61.8 percent Fibonacci retracement line at $20.34 may be in the offing, but will remain bullish so long as the channel pattern holds.
HOT | Price: $0.002165 | MCAP: $288.4 million | Percent Change: +74 percent
Holochain (HOT) is a decentralized application platform that uses peer-to-peer networking for processing agent-centric agreement and consensus mechanisms between users.
Beginning in late May, HOT managed to break a key resistance zone of $0.0016, carving out a further 57 percent rise in value before prices peaked at $0.0027 on May 29.
From there it has been a downhill battle for HOT with the forfeiture of the 38.2 percent retracement line opening up the neutral pivot point at $0.0018 (50 percent retracement).
If prices continue to falter, buying pressure is likely to support HOT near $0.0016 due to it being a previous resistance zone.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Balloons image via Shutterstock; charts by Trading View
This news post is collected from CoinDesk
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Bitcoin Price Looks Poised for Pullback But June Could Revive Rally
View
Bitcoin fell $1,100 on Thursday, creating a bearish candle on the daily chart and confirming a bearish divergence of a key indicator.
Prices risk falling to the 30-day moving average (MA), currently at $7,342, in the next few days.
The pullback could be short-lived, as BTC tends to perform well in June, and the long-term bull case is still intact.
The case for BTC extending its four-month winning streak in June would weaken if the price finds acceptance below the 30-day MA.
Bitcoin is teasing short-term bearish reversal at the onset of the historically good month of June.
The premiere cryptocurrency is currently trading at $8,300 – down 4.5 percent on a 24-hour basis – after having hit a new 12-month high of $9,097 on Thursday.
The rise above the psychological level of $9,000 was short-lived, as expected, with prices falling back to $8,600 by 16:15 UTC. The cryptocurrency went on to hit an intraday low of $8,000 before printing a UTC close at $8,378.
The sudden $1,100 pullback from one-year highs ended up engulfing the price action seen in the previous three trading days – a sign of buyer exhaustion.
Further, prices closed below the key support of $8,390 (May 16 high), invalidating the bullish higher high established above that level on May 26.
The price pullback looks to have legs, as trading volumes on Bitstamp doubled on Thursday as prices dropped. BTC, therefore, could remain on the defensive in the first week of June.
However, the bulls may get a boost, as historical data shows the cryptocurrency tends to do well in the final month of the second quarter.
BTC has scored gains in June in five out of the last seven years.
Prices fell 14.77 percent last year, snapping the three-year June winning run.
The 27.85 percent price rise seen in 2012 is bitcoin’s best June performance to date.
Daily chart
BTC created a “bearish outside day” candle on Thursday, which occurs when the day begins on a positive note but ends with pessimism.
That candlestick pattern is widely considered an early sign of bullish-to-bearish trend change, especially when it appears after a prolonged rally.
Traders usually wait for a strong follow through – preferably a UTC close below the bearish candle’s low – before adopting a bearish bias.
The focus, therefore, is on $8,000 (Thursday’s low). Acceptance below that level will likely invite stronger selling pressure, leading to a deeper drop, possibly to the historically strong support of the 30-day moving average, currently at $7,342.
With the relative strength index (RSI) reporting bearish divergence – lower highs as opposed to higher highs on price – and volumes rising sharply, a break below $8,000 looks likely.
While the odds are stacked in favor of a deeper correction, the cryptocurrency could still manage to eke out gains in June for the fifth straight month if the 30-day MA reverses the pullback.
The cryptocurrency has charted higher lows along the 30-day MA throughout the rally from $3,500 to $9,000.
Also, the case for a drop to the 30-day MA at $7,342 would weaken if the support at $8,000 holds ground over the weekend. In that case, BTC could rise back to $9,0oo.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoin image via Shutterstock; charts by Trading View
This news post is collected from CoinDesk
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Bitcoin Price Looks Poised for Pullback But June Could Revive Rally
View
Bitcoin fell $1,100 on Thursday, creating a bearish candle on the daily chart and confirming a bearish divergence of a key indicator.
Prices risk falling to the 30-day moving average (MA), currently at $7,342, in the next few days.
The pullback could be short-lived, as BTC tends to perform well in June, and the long-term bull case is still intact.
The case for BTC extending its four-month winning streak in June would weaken if the price finds acceptance below the 30-day MA.
Bitcoin is teasing short-term bearish reversal at the onset of the historically good month of June.
The premiere cryptocurrency is currently trading at $8,300 – down 4.5 percent on a 24-hour basis – after having hit a new 12-month high of $9,097 on Thursday.
The rise above the psychological level of $9,000 was short-lived, as expected, with prices falling back to $8,600 by 16:15 UTC. The cryptocurrency went on to hit an intraday low of $8,000 before printing a UTC close at $8,378.
The sudden $1,100 pullback from one-year highs ended up engulfing the price action seen in the previous three trading days – a sign of buyer exhaustion.
Further, prices closed below the key support of $8,390 (May 16 high), invalidating the bullish higher high established above that level on May 26.
The price pullback looks to have legs, as trading volumes on Bitstamp doubled on Thursday as prices dropped. BTC, therefore, could remain on the defensive in the first week of June.
However, the bulls may get a boost, as historical data shows the cryptocurrency tends to do well in the final month of the second quarter.
BTC has scored gains in June in five out of the last seven years.
Prices fell 14.77 percent last year, snapping the three-year June winning run.
The 27.85 percent price rise seen in 2012 is bitcoin’s best June performance to date.
Daily chart
BTC created a “bearish outside day” candle on Thursday, which occurs when the day begins on a positive note but ends with pessimism.
That candlestick pattern is widely considered an early sign of bullish-to-bearish trend change, especially when it appears after a prolonged rally.
Traders usually wait for a strong follow through – preferably a UTC close below the bearish candle’s low – before adopting a bearish bias.
The focus, therefore, is on $8,000 (Thursday’s low). Acceptance below that level will likely invite stronger selling pressure, leading to a deeper drop, possibly to the historically strong support of the 30-day moving average, currently at $7,342.
With the relative strength index (RSI) reporting bearish divergence – lower highs as opposed to higher highs on price – and volumes rising sharply, a break below $8,000 looks likely.
While the odds are stacked in favor of a deeper correction, the cryptocurrency could still manage to eke out gains in June for the fifth straight month if the 30-day MA reverses the pullback.
The cryptocurrency has charted higher lows along the 30-day MA throughout the rally from $3,500 to $9,000.
Also, the case for a drop to the 30-day MA at $7,342 would weaken if the support at $8,000 holds ground over the weekend. In that case, BTC could rise back to $9,0oo.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoin image via Shutterstock; charts by Trading View
This news post is collected from CoinDesk
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LocalBitcoins Bans Bitcoin Buying in Iran in Blow to Rising Crypto Commerce
LocalBitcoins has officially shut off service for Iran-based users, a move that follows weeks of rising rial trading volumes on the platform.
The Helsinki-based peer-to-peer exchange has not explicitly said why Iranians are suddenly being cut off from its service, though U.S. sanctions are almost certainly the cause.
News of the move first circulated across local language Telegram channels earlier this week that the exchange had blocked Iranians. Users reported encountering problems in posting new trades and updating previous ones on the website.
“If you have an account already, you will be able to withdraw your bitcoins, but you will not be able to use the platform for trading,” reads a response by LocalBitcoins to an Iranian user that has circulated in social media and local news websites.
A message also appeared on the platform’s Iran country page that read: “Unfortunately, LocalBitcoins is currently not available in your selected region.” On Twitter, the exchange told several Iranian users: “Our services are not available in your region for risk-based reasons.”
LocalBitcoins has been perhaps the most popular bitcoin trading website among Iranian users, as it doesn’t require international credit card information – something Iranians have been bereft of for decades – and allows users to pay with their local bank accounts.
According to Iranian users, the website was also open to reviewing local bank account documents to resolve potential problems, signaling that they have advisors familiar with the largely isolated Iranian banking system.
Moreover, LocalBitcoins was trusted by Iran-based bitcoin users because it holds funds in escrow until both sides have given final confirmation, thereby ensuring transaction safety and lowering fraud.
“Since I traded in relatively high volumes, LocalBitcoins was my best option because I could find good offers with real people,” bitcoin trader Soroush Hakimi told CoinDesk.
He continued:
“In local exchanges, rates are unfavorable in many instances while total volume of assets is low. For instance, you can barely find two bitcoins for sale in any given day.”
Sanctions a likely cause
LocalBitcoins did not respond to several requests for comments by CoinDesk on the reasons behind its decision to ban Iranians. But almost undoubtedly, the escalating “maximum pressure” campaign of the U.S. against Iran has prompted the Finnish website to block Iranian users.
Just over a year ago, U.S. President Donald Trump unilaterally withdrew from Iran’s nuclear deal with world powers, announcing reimposition of new rounds of stringent economic sanctions.
Legitimate Iranian crypto users have already felt the sting of sanctions several times during the past year as multiple exchanges, including Binance, Bittrex and ShapeShift have stopped offering services.
According to Milad Jahandar, CEO of Iranian fintech Bahamta, the elimination of Localbitcoins as one of the few remaining viable options for Iranian bitcoiners will lead to more fraud in cryptocurrency-related commerce.
“Users will be forced to resort to person-to-person transactions and trusting each other, which increases risks of fraud, sets back the local community, and delays bitcoin prevalence,” he told CoinDesk.
Jahandar also believes that excluding users from any country due to political reasons runs counter to the very decentralized nature of bitcoin.
“Bitcoin is a global network that knows no borders, colors or ethnicities,” he said. “So when an exchange bans Iranian users, it is basically downgrading its applications to that of fiat currencies.”
New alternatives emerge
Still, local Iranians seeking to buy and sell cryptocurrency are not without options. The restrictions are increasingly pushing Iranians toward truly decentralized exchanges that won’t discriminate based on nationality.
Programmer Ziya Sadr says two alternatives to Localbitcoins have already proven to be better and are attracting Iranian users. The first is Bisq, he said, an open-source decentralized peer-to-peer application that runs on Tor, and has recently integrated Farsi for Iranian users.
“Bisq doesn’t require you to do KYC and all deals run either privately or anonymously,” Sadr told CoinDesk in reference to know-your-customer identification protocols. “This makes it perfect for Iranian users who are always censored or blocked.”
He also referred to Hodl Hodl as another option, which is similar to Localbitcoins but has also recently added a Farsi interface for Iranian users.
“This seems to be a way for the founders of Hodl Hodl to welcome Iranian users to their website,” Sadr said.
Lastly, some Iranian users have also turned to the KeepChange peer-to-peer exchange, which in the wake of the LocalBitcoins ban sought to reassure possible users that it remains loyal to the bitcoin philosophy of preventing government interference and resisting censorship.
“Iranian users, as well as any other nationalities anywhere in the world, can use KeepChange for buying and selling bitcoin without worrying of any kind of censorship, sanctions, money seizures, etc.,” the exchange told an Iranian website on May 19.
Bitcoin on Iranian banknote via Shutterstock
This news post is collected from CoinDesk
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Binance, OKEx and KuCoin Are Using IEOs to Command the Spotlight
Token sales haven’t stopped since the 2017 boom. They’ve just changed names.
Initial exchange offerings (IEOs) – where a cryptocurrency exchange offers a direct listing and launch campaign for a new startup token – are earning blockchain companies millions in 2019.
Two sources, who both requested anonymity to avoid alienating exchange partners, told CoinDesk that some exchanges declined to list their tokens unless their startups paid hefty fees, in various formats depending on the exchange. These fees, the sources said, ranged from 10 percent of the startup’s equity, plus a percentage of the token’s global market cap, to over $1 million for “marketing.”
One such anonymous source said that exchanges are looking to compete with ethereum, which has been primarily used thus far for creating new assets.
“Basically they are going after the ERC-20 [token standard],” the source said of the Malta-based exchange Binance. “They want you to actually issue a Binance token [BNB], on top of the Binance chain instead of an ERC-20, in order to get into the [decentralized exchange business].”
The ecosystem’s most famous IEO platform is the “Launchpad” division of Binance. The Launchpad originally started in August 2017, and reopened with the BitTorrent offering that facilitated $7.2 million in sales with the exchange’s native BNB token in January 2019.
Since then, Binance has launched four new projects and is marching ahead with at least one a month as it simultaneously develops a decentralized exchange (DEX).
Binance CEO Changpeng Zhao (CZ) told CoinDesk the Launchpad has received “thousands” of applications. Yet so far, the value of these new tokens plummeted soon after the IEO took place.
When asked how much it costs a startup to secure a Launchpad IEO, and whether those teams are required to use the exchange’s native blockchain or BNB exclusively, CZ said that “each sale is unique.”
“We evaluate each project individually,” CZ said. “Some projects require more help from us, such as advisory, token economics, etc. Some projects are more independent. … We built Launchpad because we believe fundraising on blockchain is one of the best tools for entrepreneurs.”
Speaking to the broader comparison between IEOs and ICOs, he added:
“In IEOs, exchanges conduct an additional level of due diligence to help investors in selecting and evaluating projects.”
Competition
Now global competitors such as Bittrex, KuCoin and OKEx all offer IEOs as well, although their formats vary.
For example, according to Huobi Group’s head of marketing Ross Zhang, Huobi’s token launch format called “Huobi Prime” isn’t an IEO (despite most traders calling it that) because Prime doesn’t raise funds for external startups.
Zhang told CoinDesk that so far both Prime offerings promptly sold out, exchanging 3.5 billion startup tokens for Huobi’s native token.
Meanwhile, in contrast to Binance’s Launchpad, KuCoin’s comparable Spotlight division will launch its second IEO on May 28, featuring the CHROMA token issued by the software-as-service startup ChromaWay, which already garnered $11 million in a private token sale last year.
ChromaWay staff. (Courtesy photo)
KuCoin CEO Michael Gan told CoinDesk the exchange’s first IEO in April raised $4.2 million worth of crypto. However, it’s more accurate to think of such sums as a rate of distribution rather than earnings. It’s unclear how much exchanges themselves earn from IEOs.
In addition to transaction fees, terms are determined through private discussions rather than standardized procedures, according to both CZ and an anonymous source that pitched multiple exchanges.
The second anonymous source said several exchanges are switching to prioritize IEOs and no longer considering new or niche assets for general listings.
Describing the challenges of convincing an exchange to list a new or niche token without the exclusivity of an IEO, ChromaWay COO Or Perelman said:
“Most of the top exchanges are basically looking at their personal IEO projects.”
Trusted curators
To be fair, these exchanges do contribute professional screening and marketing services for the sale. Plus, sometimes exchanges don’t charge for IEOs.
Indeed, ChromaWay’s Perelman told CoinDesk that startups need IEOs for “liquidity and marketing,” and that KuCoin doesn’t charge fees.
For yet another example, Andy Cheung, head of operations at OKEx, told CoinDesk his exchange does not charge startups for IEOs even though the company received hundreds of applications.
Speaking of how IEOs attract traction for the exchange’s native token, Cheung said sale participants must have a minimum of 500 OKB tokens to qualify to participate in the IEO. Furthermore, the OKEx IEOs, expected to occur at least once a month for the rest of the year, will only accept OKB tokens. Both KuCoin and OKEx are following Binance’s lead by prioritizing usage of their native tokens and also developing their own DEXs in the meantime.
“We believe [IEOs] will bring new users to the community,” Cheung said. “We can actually help [users] select a good project. It won’t be like the old days where someone who does an initial coin offering runs away.”
According to Huobi’s Zhang, two years after the token boom of 2017 there is still an “enormous appetite” among retail traders eager for early access to digital assets. He said:
“The difference this time around is that people are, on the whole, a lot more cautious and careful about where they put their funds.”
KuCoin image via Shutterstock
This news post is collected from CoinDesk
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Binance, OKEx and KuCoin Are Using IEOs to Command the Spotlight
Token sales haven’t stopped since the 2017 boom. They’ve just changed names.
Initial exchange offerings (IEOs) – where a cryptocurrency exchange offers a direct listing and launch campaign for a new startup token – are earning blockchain companies millions in 2019.
Two sources, who both requested anonymity to avoid alienating exchange partners, told CoinDesk that some exchanges declined to list their tokens unless their startups paid hefty fees, in various formats depending on the exchange. These fees, the sources said, ranged from 10 percent of the startup’s equity, plus a percentage of the token’s global market cap, to over $1 million for “marketing.”
One such anonymous source said that exchanges are looking to compete with ethereum, which has been primarily used thus far for creating new assets.
“Basically they are going after the ERC-20 [token standard],” the source said of the Malta-based exchange Binance. “They want you to actually issue a Binance token [BNB], on top of the Binance chain instead of an ERC-20, in order to get into the [decentralized exchange business].”
The ecosystem’s most famous IEO platform is the “Launchpad” division of Binance. The Launchpad originally started in August 2017, and reopened with the BitTorrent offering that facilitated $7.2 million in sales with the exchange’s native BNB token in January 2019.
Since then, Binance has launched four new projects and is marching ahead with at least one a month as it simultaneously develops a decentralized exchange (DEX).
Binance CEO Changpeng Zhao (CZ) told CoinDesk the Launchpad has received “thousands” of applications. Yet so far, the value of these new tokens plummeted soon after the IEO took place.
When asked how much it costs a startup to secure a Launchpad IEO, and whether those teams are required to use the exchange’s native blockchain or BNB exclusively, CZ said that “each sale is unique.”
“We evaluate each project individually,” CZ said. “Some projects require more help from us, such as advisory, token economics, etc. Some projects are more independent. … We built Launchpad because we believe fundraising on blockchain is one of the best tools for entrepreneurs.”
Speaking to the broader comparison between IEOs and ICOs, he added:
“In IEOs, exchanges conduct an additional level of due diligence to help investors in selecting and evaluating projects.”
Competition
Now global competitors such as Bittrex, KuCoin and OKEx all offer IEOs as well, although their formats vary.
For example, according to Huobi Group’s head of marketing Ross Zhang, Huobi’s token launch format called “Huobi Prime” isn’t an IEO (despite most traders calling it that) because Prime doesn’t raise funds for external startups.
Zhang told CoinDesk that so far both Prime offerings promptly sold out, exchanging 3.5 billion startup tokens for Huobi’s native token.
Meanwhile, in contrast to Binance’s Launchpad, KuCoin’s comparable Spotlight division will launch its second IEO on May 28, featuring the CHROMA token issued by the software-as-service startup ChromaWay, which already garnered $11 million in a private token sale last year.
ChromaWay staff. (Courtesy photo)
KuCoin CEO Michael Gan told CoinDesk the exchange’s first IEO in April raised $4.2 million worth of crypto. However, it’s more accurate to think of such sums as a rate of distribution rather than earnings. It’s unclear how much exchanges themselves earn from IEOs.
In addition to transaction fees, terms are determined through private discussions rather than standardized procedures, according to both CZ and an anonymous source that pitched multiple exchanges.
The second anonymous source said several exchanges are switching to prioritize IEOs and no longer considering new or niche assets for general listings.
Describing the challenges of convincing an exchange to list a new or niche token without the exclusivity of an IEO, ChromaWay COO Or Perelman said:
“Most of the top exchanges are basically looking at their personal IEO projects.”
Trusted curators
To be fair, these exchanges do contribute professional screening and marketing services for the sale. Plus, sometimes exchanges don’t charge for IEOs.
Indeed, ChromaWay’s Perelman told CoinDesk that startups need IEOs for “liquidity and marketing,” and that KuCoin doesn’t charge fees.
For yet another example, Andy Cheung, head of operations at OKEx, told CoinDesk his exchange does not charge startups for IEOs even though the company received hundreds of applications.
Speaking of how IEOs attract traction for the exchange’s native token, Cheung said sale participants must have a minimum of 500 OKB tokens to qualify to participate in the IEO. Furthermore, the OKEx IEOs, expected to occur at least once a month for the rest of the year, will only accept OKB tokens. Both KuCoin and OKEx are following Binance’s lead by prioritizing usage of their native tokens and also developing their own DEXs in the meantime.
“We believe [IEOs] will bring new users to the community,” Cheung said. “We can actually help [users] select a good project. It won’t be like the old days where someone who does an initial coin offering runs away.”
According to Huobi’s Zhang, two years after the token boom of 2017 there is still an “enormous appetite” among retail traders eager for early access to digital assets. He said:
“The difference this time around is that people are, on the whole, a lot more cautious and careful about where they put their funds.”
KuCoin image via Shutterstock
This news post is collected from CoinDesk
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Want to Understand Bitfinex? Understand Mt. Gox
Daniel Cawrey is chief executive officer of Pactum Capital, a quantitative cryptocurrency investment firm and hedge fund. Sina Nader was a professional money manager at Morgan Stanley as well as Credit Suisse and is now head of investor relations at Pactum.
The views expressed are those of the authors and are not investment advice.
“History doesn’t repeat itself, but it often rhymes”
This quote is often attributed to Mark Twain. And while Bitfinex doesn’t exactly rhyme with Mt. Gox, there are several parallels in the stories of these two exchanges. People interested in understanding Bitfinex are well-served to understand what happened with Mt. Gox.
Bitfinex and Tether were investigated by the New York York Attorney General (NYAG). Here’s a synopsis for those unfamiliar with the story. Bitfinex is a cryptocurrency exchange, the owners of which also control Tether, issuer of the most popular stablecoin, known as tether or USDT. The NYAG accuses Bitfinex of losing over $800 million. It alleges the exchange tried to recoup those losses by dipping into the cash reserves of tether, the stablecoin its principals also control.
Problem is, taking money held by Tether would render the stablecoin more or less useless. This is because Tether is supposedly backed by cash reserves and there are people who still believe this. Yet if there are no cash reserves, or significantly less cash than believed, then the whole concept of Tether is essentially fraudulent.
This is laid out in the filing from late last week. At the end of the document, the NYAG issues an ultimatum. The office “does seek to enjoin Respondents from taking any further action to access, loan, extend credit, encumber, pledge, or make any other similar transfer or claim between Bitfinex and Tether.”
Where’s the money?
The cliff for BTC on Coinbase April 25 once the Bitfinex/Tether lawsuit dropped. Source:Tradingview
One may rightly wonder: how exactly did Bitfinex manage to lose more than $800 million? The answer is closely intertwined with the exchange’s banking relationships, or lack thereof. Crypto “OGs” and insiders may be feeling like they’ve seen this movie before.
Indeed, those feelings would be quite valid. In the early days of crypto, one of the largest bitcoin exchanges, known as Mt. Gox, also got into significant trouble due primarily to its banking relationships. It got so bad that in February of 2014, Mt. Gox stopped all trading and filed for bankruptcy protection. At the time, it claimed to have lost 624,408 BTC.
What unbanked, noncompliant cryptocurrency exchange holdings look like. Source: Wizsec
A Japanese bank that handled Mt. Gox’s cash transactions had been trying to close its account. In addition, no U.S. banks would work with Mt. Gox. This made it essentially impossible for Mt. Gox to send users’ cash back to them when they tried to withdraw their money. Users experienced delays of weeks or months until the exchange shut down unceremoniously.
In the case of Mt. Gox, the fallout lingered for a long time and still continues to this day. If history is any guide, we can expect any potential fallout from significant troubles experienced by Bitfinex to linger too. While this should give many participants in the crypto industry pause, it is an excellent opportunity to reflect on the state of crypto in general – and for the crypto space to do a little soul-searching.
Exchange implosions
At issue in 2019 is the presence of so many problematic cryptocurrency exchanges. Spectacular failures where hundreds of millions of dollars go missing, in the case of Bitfinex, are not good. The fact that this appears to be happening again in the span of five years speaks volumes.
From the Mt. Gox crisis docs. Could other failing exchanges try to follow this same playbook? Source:CoinDesk
This industry is still young, immature, and experiencing growing pains. These latest issues with Bitfinex are also a learning opportunity. It’s now clear that exchanges without normal banking relationships are the weakest link in this volatile market. Now prominent traders and funds have been pulling assets from exchanges in fairly large amounts.
Inflow/outflows on BItfinex by USD value. Activity has increased since the allegations were announced. Source: TokenAnalyst
One can understand why exchange outflow would increase in the current environment. Certain exchanges clearly cannot be trusted to safeguard cryptocurrency assets.
It is time for some of the best engineers and developers to turn their attention to the most basic of mandates: Compliance and custody for crypto. Until there is an improved layer of trust, it will be difficult for this industry to grow in ways many advocates want to see.
Lawyer Stephen Palley knows crypto folks want BTC to be worth a ton. Yet that will only happen with much stronger and more compliant exchange infrastructure. Source: Twitter
What does ‘custody’ really mean?
Cryptocurrency goes beyond just computer science at this point. Experts are needed – people who have experience in the various arts and sciences needed to safeguard large amounts of money.
This is what is meant when using the word “custody.” More security, legal, regulatory, and compliance experts are required to push this ecosystem to new frontiers. Auditors, accountants, and experienced financial operators with enough seasoning in the traditional world. These people should have a vision for the challenges and also the amazing promise of crypto. And innovations in bank-backed stablecoins such as USDC and PAX are a great start.
“History doesn’t repeat itself, but it often rhymes.” There’s certainly a familiar rhyme going around right now. It’s easy to look back at Mt. Gox and see similarities to Bitfinex and Tether. This time, though, it’s arguably even more complex given the Tether stablecoin inflows and outflows.
Yet all the same signals, like the large price spread between Bitfinex and regulated exchanges such as Coinbase, are there. And we can stop the repetitive, “Groundhog Day”-type scenarios. We can do better and not let this happen ever again.
Bill Murray is trapped in a mysterious time loop in the movie “Groundhog Day.” Crypto doesn’t always have to repeat the same mistakes over and over. Source: Moviefone
We may be trying to build a better world at the intersection of finance and technology with crypto. However, perhaps it is time to acknowledge that we can learn some things from the legacy financial systems on Wall Street we are working to upgrade.
It’s not about “teaching an old dog new tricks,” but rather about a young, promising puppy learning a few tricks from the old dogs who’ve been managing money for a couple of centuries.
Mt. Gox image via CoinDesk archives.
This news post is collected from CoinDesk
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