It can't get better than this, the chart was published a few weeks back and you can see that the predictions worked extremely well.
Bitcoin Just following the triangle and the movement predicted.
Bitcoin Just following the triangle and the movement predicted.
Tuesday's rally is the result of more crypto-friendly attitudes by government regulators. Not only did Wyoming on Monday pass a bill relaxing securities law for some tokens, the South Korean government, which had previously vowed to crack down on cryptocurrency trading, said it would "support" and even "encourage" crypto operations so long as they were "normal" transactions.
And if this softening of regulations brings investors into bitcoin, which Kelly believes it will, there could be even more buyers kicking in around the $12,000 level.
For those looking to make a trade, it is recommended buying March Cboe bitcoin futures at $12,000 with a target of $18,000. Since bitcoin futures are so volatile, he put a stop in at $10,000.
Cboe and CME bitcoin futures hit their highest levels since Jan. 29 in Tuesday's bitcoin rally, up 15 percent and 16 percent, respectively, for their best sessions since they began trading in December.
Venezuela has officially launched the pre-sale of its #Petro cryptocurrency, first such issuance done by a government. The value of all tokens is equal to $6 bln, more than all 2017
India news,
In a bid to check menace of illegal deposit taking activities involved in ponzi schemes and other means, the Government on Tuesday proposed a stringent law to punish those who raise funds through unregulated deposits. The move of the Government is intended to protect the poor and the financially illiterate who get victimised by such schemes.
The Union Cabinet chaired by Prime Minister Narendra Modi on Tuesday approved to introduce Banning of Unregulated Deposit Schemes Bill, 2018, in Parliament. “The Bill is aimed at tackling the menace of illicit deposit taking activities in the country.
Companies/ institutions running such schemes exploit existing regulatory gaps and lack of strict administrative measures to dupe poor and gullible people of their hard-earned savings,” an official statement said.
As per the proposed Bill, it proposes to create three different types of offences -- running of unregulated deposit schemes, fraudulent default in regulated deposit schemes, and wrongful inducement in relation to unregulated deposit schemes. It provides for severe punishment and heavy pecuniary fines to act as deterrent.
As far unregulated deposits are concerned, many illegal schemes are spread all over the country. Even deposits under bitcoins is said to be treated as illicit deposit by the Government. The worst victims of such schemes are the poor and the financially illiterate, and the operations of such schemes are often spread over many States.
The statement, however, said, “The comprehensive Bill provides for complete prohibition of unregulated deposit taking activity and prescribes deterrent punishment.”
According to the proposed Bill, competent authorities would be set up by State Governments to ensure repayment of deposits in the event of default by a deposit taking establishment.
Word wide there is a mixed openion for the cryptocurrency. Though it is clear that Venezuela, Korea, US, Dubai and other countries are in support of the cryptocurrency, India seems to have a wait and watch approach towards technological changes. Indian is being very cautious because of money laundering which may be involved and there may be illegal funding because of cryptocurrency.
India has passed the bill of unregulated deposit schemes in an aim to cut off promotion on pontificate schemes.
Let's see what will it bring to the sentiments of cryptocurrency traders and investors.
As of now, above 12000,which was my original target, predicted well in advance, is a good buy opportunity. Put a stop at 10000. Invest amount which you don't mind using and don't put everything at cryptocurrency.