#BCHUSD Benefits As #BTCUSD Drifts on Profit-taking & Alternative Moves
TUG of WAR has just started a DIVERGENT TREND DIRECTION
The weekend proves to be a 'Forking Waltz' between #BitCoin and #BitCash price divergence in today's price action. The relative decline of Bitcoin below the USD7000 after making a quick stop at 7888 would seem to be the initial trade reaction from the surge of BitCash in the USD1350.00 as of today.
Increasing Volumes on New Trade Entry
The probability of the some traders switching into BitCash is just a fraction of Bitcoins prices, but trading above the USD1000 mark in a relatively rapid pace can still be attributed to the kind of market behavior of spot BTCUSD into the equivalent market. Although, we are anxious enough for the upcoming Bitcoin ETF that would be launch by Power-Shares and BITCOIN Futures by the CME - Chicago Mercantile Exchange and the CBOE - Chicago Board Options Exchange.
The probability of the some traders switching into BitCash is just a fraction of Bitcoins prices, but trading above the USD1000 mark in a relatively rapid pace can still be attributed to the kind of market behavior of spot BTCUSD into the equivalent market. Although, we are anxious enough for the upcoming Bitcoin ETF that would be launch by Power-Shares and BITCOIN Futures by the CME - Chicago Mercantile Exchange and the CBOE - Chicago Board Options Exchange.
The similarity can still progress into the same volatility at first but will tame into a better trading scope as the new market would grow steadily on its own sooner than everyone would expect. And in spite of the fact that some sees the community being divided into their own financial choices. But the way we view this industry would be in a manner of preference on how this should best serve the investor's interest other than the financial objectives set by companies and institutions that makes up the entire industry as a whole.
Diminishing Volumes on Profit-taking activity
Of course, when it's new, it's hot...but for smart tactical investors...while they're ahead of the game, it's wiser to cash-in what has been made which is not bad. After all we don't normally see these kind of exceptional price action from 'Alternative' instruments.
ReplyDeleteWith that said, we remain with the traditional stocks that has been proven for so many decades and the LIQUIDITY of the Foreign Exchange Interbank Market is still on top of all trading transactions combined. As we emphasized, never leave what has been good for the past three (3) and half decades of trading and investing in the financial markets. Staying relevant in these ever changing global markets is MegaTrade101's goal in providing the right information to the best interest of our valued clientele.
The underlying VOLATILITY on the weekend has exacerbated price action on both markets. This was seen when #BTCUSD marked a low at USD5555.00 while its counterpart #BCHUSD registered a USD2800.00 high.
ReplyDeleteFor now "Price Action' will dictate the market moves until such time an 'equilibrium price alignment' can occur on either directions. That is if and when it does occur. Even in the free market trading of the 'Foreign Currency Market' price re-alignment occurs with certain majors makes these adjustments giving way for other currencies to do the same. This is where alternating price action can be defined and can take place during market volatility.
With the Crypto Currency industry given that there are only a handful as of to date which such an alignment can be expected, but remains to be seen. As new instruments, regulations and exchanges are set to launch other relative instruments that could tame these instruments into a real asset value for global investors.
So far Bitcoin has marked a new high at USD8190.00 and is currently at 8180 session correction while prices stays at the higher band which could also be susceptible to another round of profit-taking.
ReplyDeleteWhen this happens, the probability for Bitcoin Cash may benefit as alternating trades between these two crypto as they both gain some ground from market volatility.