The Osiris team remains constantly improving predictive and trading algorithms to deliver the best results achievable. We are using the of the recent days as a wonderful opportunity to stress-test our systems and to make them less susceptible to statistical outliers.
Yesterday, we saw a decent rise in bitcoin price above the $3,800 and $4,000 resistances against the US Dollar . The BTC/USD pair tested the $4,080 and later corrected lower. Finally, there was a fresh upward move and the price broke the $4,080 resistance. The price climbed further higher and traded above the $4,200 and $4,260 levels. A new intraday high was formed at $4,400 and the price settled above the 100 hourly . (Source: https://www.newsbtc.com/2018/11/29/bitco...)
While the markets may be angry, cryptocurrencies still hold a strong allure for businesses looking to be a part of the financial revolution. This can be seen by how many companies are starting to accept virtual currencies, specifically Bitcoin , as a medium of exchange for their goods and services. The latest to join that list is Birks Group, a luxury jewelry brand based in Canada. According to Business Wire, the brand will be working with BitPay to ensure that their crypto customers can easily put a ring on it this Christmas. (Source: https://www.livebitcoinnews.com/bitcoin-...)
In a landmark ruling, Southern District of California Judge Gonzalo Curiel declared that a classification by the US Securities and Exchange Commission (SEC) on an ICO as security is not justified. Blockvest’s ICO was declared as a security by the SEC earlier and the judge was of the opinion that it had failed to show enough justification. The court had used a case from some 70 years ago as an example, that had defined three tests that would determine if the tokens used fell under the category of securities. In this instance, the judge was not convinced the tokens did. SEC had claimed that the token platform attracted investors through showing it would be profitable to fund their tokens, going as far as to claim that the platform had created its Blockchain Exchange Commission for that very specific purpose. (Source: https://bitcoinnews.com/us-court-rules-s...)
The following is a scheduled notification from the Osiris team. Our models have been working hard and smart on forecasting the market, and here are the most up-to-date predictions for the next 3 hours:
As usual, red, green and blue rectangles demonstrate predicted values of low, high and close, respectively, with corresponding confidence intervals, and the black arrow illustrates our trades.
It has been two weeks since the notable Bitcoin Cash hard fork, which has resulted in two rival chains, Bitcoin and Bitcoin SV. The recurrent “hash wars” are going back in forth, with the market still responding to the changes in networks’ relative hash rates. As for now, the two competing chains are on parity (50%/50%) in terms of network hashing power (Source: https://cash.coin.dance). From the first glance, this is a major forward move by Bitcoin SV which has cut its yesterday’s lead of Bitcoin from more than 50 blocks to 20 via attracting extra power to its network (Source: https://blockchair.com/bitcoin-cash/bloc...). However, such a move has significantly decreased the mining profitability of Bitcoin SV, and now it is more than 40% profitable to mine on the generic Bitcoin chain (Source: https://cash.coin.dance). The Osiris Team has previously warned of volatile mining profitability typical of Bitcoin SV, associated not only with coin price fluctuations ( Bitcoin , despite volatile prices, manages to constantly maintain its mining profitability 5-15% higher than that of the Bitcoin chain) but with the technical solutions implemented by the SV chain. In terms of miner pool diversification, Bitcoin remains less concentrated, having also attracted occasional mining from okminer, Waterhole and DPool over the last couple of days (Source: https://cash.coin.dance). These facts arguably evidence that the Bitcoin chain is comparatively more sustainable. In that regard, the Osiris team remains on the coin.
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