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Bitcoin Price & Technical Analysis: BTC Trying to Hit $4,000

Bitcoin price & technical analysis: btc trying to hit $4,000

Bitcoin Price & Technical Analysis: BTC Trying to Hit $4,000

Photo: roboforex / tradingview

Photo: Roboforex / TradingView

The bitcoin is still trying to make its way to the round number of $4,000, says Dmitriy Gurkovskiy, Chief Analyst at RoboForex.

  • The number of search queries on bitcoin is going down.
  • bitcoin and other crypto futures are in high demand.
  • Chinese miners buy mining equipment, expecting the electricity costs to go down.

According to Google Trends, the number of search queries on bitcoin has hit its Q2 2017 low. The BTC cost then much less than now, while the demand was mostly formed out of large investors. The current demand fall is likely to be related to the long downtrend.

There is still some demand in the markets, though, as the BTC is rising and getting ready to hit $4,000, while the futures trading volume is also quite high.

According to Crypto Facilities, the trading turnover of the crypto futures, including those on bitcoin, Ethereum, and Ripple, rose by over 500% in February, reaching $1B, with the liquidity constantly rising, too. Most clients that come to Crypto Facilities are from the EU and Asia; there are hardly any US citizens among them.

This demand comes not only from the general derivatives’ popularity, but also from the better business the crypto platforms are doing. Kraken bought Crypto Facilities some time ago, which secured a good number of clients.

Meanwhile, the Chinese miners are very actively buying used mining equipment. The energy costs are expected to get reduced, which will make crypto mining more profitable. Currently, the profits are scarce, but the market is still optimistic about mining.

Technically, the BTC is trading inside a midterm ascending channel on H4. In the short term, meanwhile, the price reached 61.80% Fibo and then went sideways. Both the local support at $3,686 and the resistance at $3,910 may get broken out. In the latter case, the price may then hit the current high at  $4,188.40, and then the upper channel boundary at $4,532, which lies almost at 38.20% Fibo. Conversely, breaking out $3,686 will push the price to the midterm support at $3,463. The MACD lines are down, which means a descending move is more likely; however, this may well change once a golden cross has been formed.

Bitcoin price & technical analysis: btc trying to hit $4,000

Photo: Roboforex / TradingView

On H1, the BTC is approaching the correction channel resistance. The Stochastic is overbought and may form a black cross to signal a downtrend. The breakout of the local support at $3,840 may push the price to the lower boundary at $3,686.

Disclaimer: Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Published at Thu, 07 Mar 2019 14:31:11 +0000

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bitJob Announces Partnerships with Leading Academic Institutions

The blockchain marketplace for student employment is already gaining traction with a series of universities, even before its main token sale has started.

TEL AVIV, ISRAEL. August 31st, 2017. – BitJob, the blockchain platform that aims to create a global marketplace for student employment, is off to a flying start in both its university partnerships and its token pre-sale.

[Note: This is a press release]

Crypto employment

The project is designed to connect university students with employment opportunities within the digital currency sector, and will shortly be holding its crowd fund. However, even before the formal launch it has garnered significant interest from a series of universities and student groups, signalling a promising future. Like digital currencies themselves, the greater the network effect the more valuable the project becomes for its users – and if the collection of participants to date is anything to go by, BitJob will become one of the primary hubs for recruitment in the blockchain sector.

One of the first participating groups is the University of Florida Bitcoin Club, which was founded in September 2016 by founder and developer Aaron Schwartz. The list of universities and groups that have joined BitJob to date also include Blockchain at Berkeley, McGill Cryptocurrency Club, Concordia Fintech Society, The Ivey Business School at Western University, Infolab at The Cyprus International Institute of Management (CIIM), and The Blockchain Education Network.

Social responsibility

Although the initiative is powered by blockchain technology, BitJob’s significance is primarily social, rather than technical – as Dr Theo Mourouzis, one of the project’s newest advisers and Programme director of the MSc in Business Intelligence and Data Analytics at the Cyprus International Institute of Management (CIIM), explains.

bitJob is an excellent application of Blockchain technology, that utilizes its decentralization, automation and transparency features for enabling students to earn some income while they are studying. It is not the technology aspect that makes bitJob a great idea but more importantly its social responsibility aspect towards the society and especially the group of youngsters enrolled for studies in universities. It is not only the disruption that it brings in the job-seeking space but the direct elegant solution that it offers that allows students with primarily no solid professional experience to earn a leaving and employees that have an opportunity to search for fresh minds, hungry to show their skills. This directly contributes towards the great gap that exists between demand and supply for technical skills that exists nowadays.

– Dr Theo Mourouzis, CIIM

Mourouzis, who is also Research Fellow at University College London’s Centre for Blockchain Technology, has extensive international consultancy experience in data science, blockchain and information security. In 2013, he was a member of the UCL security group that was awarded the first prize in the UK Cyber Cipher Security Challenge among UK universities. ‘The passion and the great knowledge of the founding members about technology and especially blockchain and security convinced me to become a member of this project from the first minute’ said Mourouzis. ‘As an advisor at bitJob, I make sure that all security standards and best practices are followed contributing towards the solidity of the final product and design.’

BitJob raised $1.5M USD in the first week of its token pre-sale, which ended on 16 August.

The official STU token sale will begin on 12 September.

For more information or to participate, visit www.bitjob.io.

The post bitJob Announces Partnerships with Leading Academic Institutions appeared first on Bitcoinist.com.

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