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‘Santa Claus Rally’: Why Bitcoin is Primed for a Christmas Surprise

‘santa claus rally’: why bitcoin is primed for a christmas surprise

‘Santa Claus Rally’: Why Bitcoin is Primed for a Christmas Surprise


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Nearly 11 months into a bear market that has seen the bitcoin price take a two-thirds haircut from its all-time high, the flagship cryptocurrency could be on the verge of a year-end rally.

Mati Greenspan, senior market analyst at eToro, has been watching for a bitcoin breakout for some time now, and he said in market commentary made available to CCN that there are early indications that cryptocurrencies will see a “Santa Claus rally” heading into the new year.

“In traditional markets, it’s very common to see a stock rally leading up to the end of the year due to the increased activity in the private sector during the holidays,” he wrote. “It may be too early to say this, after all we’ve only seen very moderate crypto gains this week, but it is very possible that we might see a Santa Claus rally in the crypto markets.”

Bitcoin price
Btc/usd | 200 dma | coinbase

Notably, Greenspan identified the looming Bitcoin Cash hard fork as the catalyst for this rally, noting that the BCH price had exploded in advance of the Nov. 15 fork, which seems likely to split the network into multiple competing versions.

“The gains are being led by bitcoin Cash ahead of the hard fork next week. It’s kind of funny to see that after all this sideways movement, a possible break out could come from a disagreement in the BCH community of all places,” he said.

“In any case, the fire doesn’t usually care where the spark came from. Upward momentum has a way of snowballing in financial markets no matter what the drivers of that momentum may have originally been.”

Greenspan tempered his bullish outlook with the qualification that he believes bitcoin needs a strong breakout above its 200-day moving average (DMA), which is currently sitting at $7,068, to truly put the bear trend in its rearview mirror.

However, he isn’t the only analyst pounding the table on bitcoin’s technical indicators. Earlier this week, Bloomberg reported that bitcoin’s directional movement index (DMI) had entered a bullish phase and that its price trends had broken out of their VERA band upper limit. Moreover, the moving average convergence divergence (MACD) gauge for the Bloomberg Galaxy Crypto Index — which features a heavy BTC weighting — recently entered positive territory for the first time in a month.

Featured Image from Shutterstock. Charts from TradingView.

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Published at Wed, 07 Nov 2018 20:25:20 +0000

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DIMCOIN Offers Equity Through Blockchain Ecosystem, Proudly Announces ICO

Tech startup DIMCOIN has recently announced the dates for its upcoming pre-ICO and ICO crowdsale. The crowdsale will offer investors a chance to support a digital ecosystem that enables individuals and businesses to conduct encrypted transactions, including trading and management of company shares and assets through online wallets.


The DIM blockchain-based ecosystem allows altcoin stock trading and equity tokenization on all devices and/or password-encrypted paper certificates. The ecosystem also gives users a plethora of financial services and products for different types of digital transactions.

The platform utilizes two separate types of digital tokens viz., DIM Currencies and DIMCOIN. DIM Currencies are digital equivalents to fiat currencies, designed to mimic them in value. DIMCOIN, however, is more of a traditional cryptocurrency, an asset tradable against all other cryptocurrencies, with a more speculative value.  

DIM TOKEN investors holding more than 50 DIM TOKENS will be entitled to voting rights and 30% of the fee’s collected by the ecosystem. Built with NEM blockchain technology, DIMCOIN employs a two-tier design, using spam protection, node reputation, and incentivized infrastructure through supernodes, all to ensure transparent and secure online trading and transactions. DIMCOIN is aiming to reinvent the blockchain financial services industry and deliver a cutting-edge platform for assets and services.

DIMCOIN ICO

DIMCOIN has announced that its pre-ICO will begin from the 1st of July 2017 at 12:00 CET and go on until the 15th of July at 23:59 CET. The Pre-ICO will give early investors the chance to support the project. DIMCOIN will be rewarding early investors with a 30% bonus during the pre-ICO. Every 100 DIMCOIN purchased during the pre-ICO will receive 1 DIM TOKEN and 30 DIMCOINS BONUS. The pre-ICO price will be set at 100 DIMCOIN per $1.00.

The DIMCOIN ICO will run from the 16th of July at 00:00 CET until the 27th of August at 23:59 CET. The platform has announced a maximum cap of 10 million DIM TOKEN, and 1 billion DIMCOIN, which can be purchased during the ICO campaign.

The bonuses offered during the ICO will gradually decrease after the Pre-ICO starts on the 1st of July 2017. During the Pre-ICO (1 July – 15 July), a bonus of 30% will be offered for the purchase of DIM Tokens.  After that, Phase 1 of the ICO (16 July – 29 July) will have 20% bonus, Phase 2 (29 July – 12 August) will offer 15% bonus followed by Phase 3(13 August – 19 August at 10% bonus.  The final Phase 4 (20 August – 27 August), last week of the ICO will offer a 5% bonus.

After the first ICO target of $10 million is achieved the price will raise from $0.01 per DIMCOIN to between $0.02 and $0.12. Once it reaches the second goal of $30 million, the price per DIMCOIN will remain fixed at $0.12 until all tokens are sold. DIMCOIN is set to be listed on a few major exchanges shortly after the completion of the ICO.


Images courtesy of bitcoin PR Buzz

The post DIMCOIN Offers Equity Through Blockchain Ecosystem, Proudly Announces ICO appeared first on Bitcoinist.com.

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