Crypto News | Bitcoin Bounces, $10,000 Big Resistance? Kraken To Close SWIFT USD, EUR, GBP Accounts

Align:start you hello multiple umber cryptocurrency announces news and education my name’s James go and this video is for the 10th of March 2018 going to be doing our market update today jumping into the technicals for the big three to see what markets headed and it straight into news for the past 24 hours but first things first of total market cap Innerspace is three hundred and eighty six billion US dollars we’ve seen a sharp rise in market cap we will hover around three hundred billion mark but the one thing to note is that a total market volume has decreased on the way up currently down at sixteen billion three billion four billion less than was compared to yesterday which is in two significant but one thing to bear in mind it does kind of signify that you know this move the whole new money moving space is kind of exhausting yourself bitcoins dominance is actually decreased now with 41.3% about six percent percent decrease but definitely something to keep your eye on so if we scroll through the top 100 we can see that most of the coins almost all of the coins are in the green today some single digit gains some double-digit gains which is really nice to see having just a total day of green it’s not a common thing in the current market conditions that we see complete days of green the biggest gain today is 39% would enter Kling followed by is the killer it’s a liquor 31% and then an over 27% and the biggest smallest percentage increased is nexus so let’s take a quick look at the big three to see what’s happening so we saw continued set off in the last couple of in the last four days and basically due to a Bitcoin whale sending a massive amount of BTC periodically throughout no since December and then selling the last bit of his Bitcoin around this time and we can see that we essentially had massive amounts of volume on this day and I was saying that two days ago this may be the peak of the movement because we saw a massive massive volume that usually signifies that we’ve reached exhaustive move on the way down now thing is the next day sorry today yes they yes they we salute you more volume which to signal that you know wasn’t quite over now a good thing is is that the majority of this candle right here even though it’s a red candle even though it’s red volume the majority of this candle is actually a complete reversal candle so this is the really bullish volume kappa this is really really bullish so we have a long ler wick which signifies the best push the price all the way down to eight thousand two hundred and ninety eight USD and then the bull’s most to push the price all the way back up and close above the 200-day moving average which is crucial so we always want to go off the basis of when the candle closes as opposed to when it’s still trading okay so this is a very very very very very bullish candle okay so what we’re looking for today is for today’s candle to close as a green candle simple as that doesn’t need to be a massive green candle just needs to be a green candle and needs to close above the 200-day moving average as well okay this would signify a trend continuation trend confirmation for a trend reversal so you have a little nice little bounce and then we will start to change the resistance levels of the 50-day moving average to 12 and 26 moving average exponential which is around 10,000 10,000 exactly 10,000 units or 10,000 18 US dollars at the moment so those are levels to keep around 10,000 round psychological number it looks like we’ll be testing it again to quickly talk about the equilibrium patterns see how it’s playing out we’ve basically broken the EQ pattern in the short-term but we’re still holding it in a long-term so what am I talking about here we have a low a high a higher low so if set a high low now the new high low so we need to set a lower high again moving forward to see a tightening range of the price action and then we start to develop the equilibrium pattern again what I would like to see what today’s candle is volume I really would like to see volume comparative to not the edge stage candle but the previous days hopefully if we compare it to this camp here this candle here this candle here so we can see increasing volume from the next three days that would be a very bullish sign of a signal that you know bulls are starting to gain strength again throwing some key momentum and then we can see some upside price action however if we see very weak volume today and then we see decreasing volume and it’s two green candles and it shows that the Bears are still wrestling control and the animals don’t have it essentially so something to keep an eye on of course we need to wait for his camels are close but generally speaking it’s as bullish and as it could have been a day yesterday it couldn’t have been more bullish pretty much generally speaking so it’s looking good for BTC in in a very short term we are in the general downtrend we still do need to test with a 50 I’m 12 and 26 moving average exponential well one thing I will say is if you’re a trader from the love this bounce to this high it’s been so much volatility on the way up it’s been it would be nice to play with so you know one thing I’ve noticed is you know whenever the big three are correlated I mean do you see Bonnie pump into the markets bitcoins are nice you know a nice has a nice percentage increase but if we look at like coin in a second which we will do it due to low liquidity at least on coin base has a lot more to play with and a lot of a larger movement so you can see here this is about a 19 20 percent move where else BTC is about a 15 percent there’s a bit more room to play with if even if you make a late entry so let’s take a look at a theorem see what theorem is doing and we’re seeing a similar pattern also a bullish reversal candle less bullish reason being is because there’s a thicker actually no no as bullish is yesterday’s candle still dealing with this resistance level that we had yesterday it seems to be broke above just for today’s count at least we broke above and looks like we’re just trading slightly below $2 below and again I’d like to see us with a similar thing I’d like to see some increased volume today I’d like to see a nice high volume candle here and then signify even if there’s not much you know difference in the open and close of this candle as not much volatility it would still show that there’s more active trading more people are bullish than bearish or an estate moving it can be a confirmation of trend trend reversals that’s what I’d be looking for of course candle hasn’t closed we don’t know yet could it looks bit like an indecision doji at the moment but nonetheless it’s looking relatively good moving forward to light coin we can see light coins a bit of a different animal here of the big three so like when saw a greater increase I say light coins a few days ahead of Bitcoin okay so if we take a look at that you can see Bitcoin is rest is going to if we see continued upside price action going to wrestle with the 12 and 26 and the 50-day moving objects but moving average and now we can see white coin has already done that like coins broken above the 50-day and was rejected from the 12 26 moving average exponential okay on this move what I’d like to see is like coin close above the 50-day and then we can see it’s it kind of ping-pong between the 12 and 26 moving average exponentially here just to blue in the orange line and then the green line here which is the 50-day moving average and then we can see it’ll be in better shape that being said if it doesn’t if it closes below it’s nothing too significant to worry about would probably be ping-ponging between 175 level and 187 usd/month okay so it really pinpointing here or ping ponging here okay so who it depends but generally speaking like winds a few days ahead of Bitcoin I’d argue with regards to its health so to speak his health so things are looking generally good the markets recovering a bit it’s nothing too crazy though it’s not it’s not we need to see continual days of upside price action to really make this you know really make significant because one reversal candle isn’t enough we need confirmation on next candle and in the next candle you know we can see how strong of a move this is going to be so Jerry speaking looking good I’m just looking at some old coins here and just to quickly check into icx icx not doing too much again so I’m gonna try and pick some up probably saw a bit of a bounce there you go I’m going to try and pick some up pretty soon so I think icx is ready for a bit of sideways trading healthy consolidation so moving on to the news so talking about Bitcoin Wall Street analyst creates a Bitcoin misery index for traders so this is basically a technical tool and I think it has a hilarious name Bitcoin misery index and basically what it is doing is it’s looking at as weighted it to as a trading tool for investors take advantage of volatility in Bitcoin exchanges Bitcoin misery index is calculated on a scale of 0 to 100 taking into account factors such as volatility and the number of winning trades out of total when indicator is low the buying opportunity is at its best and vice versa so it’s talking about how miserable Bitcoin traders are based upon the price and volatility of Bitcoin and how many people um make winning trades with BTC ok so we can see an example of it indicate and then we just quickly check a bit on trading views it’s quite the funny thing to have implement Bitcoin misery not yet ok we shall see but it’s giving you buy and sell opportunities basically buy opportunities for BTC and it looks like oh this has sell opportunities at the peak of the these not all of them actually but has some has some interesting buy opportunity some bison no sir so this could be following to play with if we do get it on trading view hopefully beyond trading view but it’s funny that’s called a Bitcoin misery index something to keep an eye on maybe to be useful in the future maybe not okay next up People’s Republic of China head says digital currency inevitable Bitcoin not accepted as payment and this is a strong stance they’re taking in China is that they are not currently recognizing Bitcoin and other digital quick digital currencies as a tool like paper coins on credit cards for retail payments the banking system does not accept it and the main argument here is that it’s disruptive nature they’re saying they must prevent substantial and irreparable damages to the domestic economy so China already has issues with regards to you moving money in and out of the country cases isn’t it surprise this isn’t sure this shouldn’t be bearish news whatsoever okay but this probably will be interpreted as bearish news by some people but you kind of have to understand the current situation of trying to anyway China is really restrictive with regards to firstly not information that their internet as well just information penetrating escape and country but also money and you know removing Mike there is there is a strong restrictions on the rate at which you can remove money from the country you can remove country money but this is the strongest restrictions and that includes moving money into the country as well so crypto currencies of course cross-border you know you know basically borderless payment systems within inherent in every single cryptocurrency is an issue for for you know China so sorry People’s Bank of China on Republic PBOC People’s Bank of China and that biggest concern is mainly disrupting their economy and that’s probably a lot of people’s concern and the the positive side of this is for them in the short term that if they’re able to control strictly control their economy they can go out the way that the rate at which they they want to grow and really secure well in the short term at least secure their positioning as a you know the banks positioning the downside of this is that they’re going to miss out on a bunch of innovation that’s going to be too explosive growth that’s going to be happening everywhere around them okay and that’s an issue so South Korea Japan Australia Australia’s massive for crypto currency massive massive massive massive cryptocurrency plus the rest of the world if things are heading the way they are then basically we’re gonna massively miss out and you know some would argue that you know they’re doing what you know what’s best to protect their their own interest which you know makes sense but that ultimately you know institutions like a bank like a government bank should be serving the people not itself so I think this nothing to be concerned about of guards for the greater broader scheme of you know house impact cryptocurrency I learn things didn’t impact crypto space whatsoever but just just something to be aware of that if you aren’t if you do happen to live in China you’re kind of being screwed over by the banks just just to say moving on don’t regulate crypto regulate financial institution says EU Banking Authority that’s probably the last few pieces of regulatory news so there’s two ways to look at this okay two weights and it’s interesting because we’ve had basically a massive really strong outcry from Angela Merkel macron and a few other banking issues within the EU saying I think one person said it’s it’s a it’s like a crime like crime against humanity or something I can’t remember there’s something ridiculous that people could cryptocurrencies exist so just to quickly read some quotes so their goal is instead of regulating regulating cryptocurrencies directly on you know like once one level likes classifying the securities commodities etc etc they’re saying that they should regulate financial institutions rather instead of cryptocurrencies themselves and this has actually been something that has been suggested previously by the e banking authorities but also by people within the cryptocurrency community but from the stance of protecting the individual now this alternatively this could be taken as a means to regulate cryptocurrencies by stopping any institution from handling cryptocurrency so that would mean within the EU any institution that were to handle cryptocurrency financial or not would come under some serious scrutiny and and fines and maybe even it probably finds is that is the extent to which it will extend that the gloves to slap on the wrist edge essentially because you know we do see institutions do the most awful things and the bet the most they get the biggest punishment is just money so no one will probably be held personally responsible but nonetheless it can even this can either be really good or really bad so it depends on how other leaders want to interpret this and adopt this because they could get this and see this as an idea and think oh yes actually that’s a good idea we should regulate the institutions but to limit people’s access to cryptocurrency and involve it with cryptocurrency which would be quite terrible my personal opinion or it can be really good in the fact that for example if a bank would like to hold your cryptocurrency they should be held responsible – verily like they would regular the money and that they shouldn’t be able to be able to spend they shouldn’t be able to spend your money because the minute you know bank is you know is holding your cryptocurrency essentially become centralized again so you know there is some there are some benefits to a bank holding cryptocurrency with lots of security cuz physical premises but we’ve got what when it comes to security and you know security flaws they’re always gonna have their own security flaws like human error but mostly human actually proves on phishing etcetera etcetera so there’s some benefits this and some downside so we will see how this plays out but bear in mind this affects a massive amount of countries this is this the EU so it’s probably won’t affect the UK because by the time anything worthwhile happens you know brexit and everything so we’ll see what happens in the UK the last piece of regulatory news so US reps Congress must push back against the blockchain over-regulation and they have covered this yesterday because this picture looks very familiar but it was posted yesterday at p.m.

Align:start UTC so I shouldn’t have covered it so this is actually a really really British thing and this is basically what opinion are you arguing for in a space for quite some time but just to quickly read a few interesting points virtually technology could drive the most significant change in society since the American Revolution the u.s. rep Tommy EMA says no it’s a different article because of different things but only if regulators resist the temptation to be heavy-handed exactly and that’s what I’ve been saying it’s what everyone’s and saying I assume I know that’s what all of you guys have been saying now it’s been two hundred and thirty-some years we’ve kind of gone through this evolution anatole coin desk of DC blockchains of this week we’ve been centralizing consolidating Authority for years this technology it could be maybe restore what it was that founders were looking for what they tried to create which is basically a non centralized authoritarian system for everyone’s views so a lot more goings like the founders of the states in America and you know the Constitution but basically comes to personal sovereignty and freedom and there is a certain element of you know certain aspect of you losing that through just you know corporate business its corporate entities from you know slowly squeezing control and gaining control buses you know the government so and even the government in itself so you know having a means from a technological standpoint where on the baseline technology doesn’t allow for centralization is a big deal and if that could disrupt industry now at least mean that with regards to data being in consumer you’d have some of your liberty and freedom back and at least freedom of choice that’s Duke that’s key so it’s nice this chaps speaking out on this okay it really is and the fact that more people’s that are in positions of authority and power and have actual potential for change changing and influencing how regulations do operate in the space are saying let’s not overly regulate this this could a be one of the most beneficial things to our economy because it’s a booming tech more technological industry that’s gonna disrupt many in this reason this where things going boss OB provides a personal sovereignty and liberty back to the people which is great which is what what we essentially want I mean again I come back to the live stream on eight I was in a few days ago and you know one of the benefits of big Bitcoin and cryptocurrencies general but specifically Bitcoin is that it’s created a means for people that are basically don’t have access to bank accounts will now add back access to bank accounts to digitally transact value and in the West that does mean much because we can do that by nature is essentially sends your right provided by us but the majority people enough don’t have that right so you know this is you know waves of impacts you know that’s gonna spread out and possibly help many people if we allow it to next up Egyptian government is secretly forcing citizens to mine cryptocurrency this this I found this interesting so Egyptian government seeking my cribs carts according to me report security researchers at University Toronto they said that gin Sheikh Egyptian government hijacked local Internet users connections to secretly microts currency amass and techniques involved are difficult to detect use two ways researchers families in spray mode any website the affected users wanted to visit will redirect their browsers to an advertising network or cryptocurrency scanner software called coin hype I think you guys know what coin hive and the other ones scheme they uses add hose that CT redirects Egyptians instances web traffic to malware that use their computers to my mineiro cryptic RT display or display ads so I I mean it’s debatable how you see how you could how you could see this it’s this that this could essentially be seen as attacks attacks upon their citizens and unofficial tax because essentially they’re using the system resources which their citizens could use freely to my cryptic hurting themselves or but this just seems very much like secret slavery others may be a bit extreme to say that but it does seem like criminal in the least criminal in the least so you know the best things you can do which I kind of say every time on these articles pop up is have anti-mining extent Chrome extension on your computer so you don’t mind your so when you’re on any website you don’t mind any kind of cryptocurrency and also of course have anti-virus software that is you know running on the computer and scan your computer every day they many go to community turns all you should scan your computer unless you’re using American case it’s a bit different but nonetheless you know this this is a pretty extreme for a government to basically be doing this I mean they can basically do you know every every single computer and just force them to do so they could probably write something that’s a law to do this be quite frank with you moving on last two pieces of news so we’re gonna start with some good news and some not-so-good news blockchain based advertising networks deliver free Wi-Fi worldwide this is pretty pretty cool but of course it comes at a cost which is going to be advertising but this worldwide fight singapore-based blockchain platform promises a free global Wi-Fi network that will make digital advertising industry more transparent provide advertisers with more tools for targeting and analyzing the ad campaigns the world Wi-Fi network consists of private residential Reuters whose owners will offer free Wi-Fi access and they’re compensated in cryptocurrency by network advertise so how this works is you will now have infrastructure in your in your house and you’ll receive cryptocurrency for having a public network now there are some concerns here with regards to security because basically if someone’s doing something terrible via or Rooter they are opening up publicly you can be held liable at least I know that in the UK you’re held liable if it’s an open network or not it basically looks like you’re a person doing a bad thing so you’ll be helpful held liable and it’d be a massive headache so you know there is a trade-off here but the interesting thing is everywhere we go there’s Wi-Fi everywhere everywhere everywhere everywhere every go as as this at least in cities there’s Wi-Fi it would be cool if everyone was networks had a second network that was open to the public because you can actually do that on at least more at most Reuters now where you can have a public network and a private network with public networks basically for guests private network is for you like your home use the public network limited rate limited only so much you know megabytes down or not before a particular network and then the main network is for people that live at the house it’s and that’s where you have like your computer secure in it now asked there are actually some security issues could actually circumvent and network security with the private with the guest network but still that being said having people map that the technology is already there for everyone in the world to basically have this as an option and then they could receive cryptocurrency as a reward which would be quite cool again it’s just security and issues with the law and but if this it if it did mean everyone in the world would have free internet that would be pretty pretty interesting thing very interesting thing but good piece of news interesting piece of news hopefully the statue rolls out fishing with some bad news unfortunately for people that used Kraken so Kraken is closing Swift and JPY funding accounts this basically means US dollars euros and pounds and of course JPY Japanese funding counts in Japan no longer being opened there they’re closing those accounts and this basically affects me it affects most people so I can’t sensitive transactions to crack any more Swift transactions is how I send euros to coinbase because I live in Europe now cracking I can’t use Kraken essentially from the March 28th I couldn’t I could buy it now be no different from me using a by Nance or bit tracks so I use Kraken as my second way to get money into and out of the space if I need to whatever reason if crack if coin base is down and now I don’t have this kind of not screwed but if anything happens to coinbase as in like this there’s like you know you like a like a day where I can’t get money off or on the exchange look just be at on enough the exchange them kind of stuck for a day this problem is probably not gonna be a situation that’s gonna going to be to why tool but it’s nice having an alternative it really is because Swiss transactions can come through within a few days or sometimes they can come through even faster so it’s unfortunate this has happened but we’ll see we’ll see why is know that they haven’t really given the reason I’m assuming it may be due to regulation that’s usually what’s been happening so you know it’s in preparation for particular rate regulation so deposits received by midnight March 20th 2018 will be credited to your crackin account as usual and then after 21st time they only anyways you deposited me return to originating bank account so some not so great news for Kraken and people that use Kraken for on our front roof with fear pardon me so that’s it for today’s video guys thank you so much for watching today if you do have any questions do you leave it in the comment box below we’ll be doing more live streams hopefully in a couple of weeks we’d like to do more interactive stuff with you guys if you have already don’t forget subscribe like and comment and hear the notification bell so you are wherever any live streams that do happen and if you would like to support the channel of a bunch of afield links below you could also just share the channel with a friend or anyone you think it may be 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