The crypto market collapsed after a move from the US Treasury Department

The whole crypto market is reeling in the midst of rumors that the US Treasury Department may soon accuse some financial institutions of using cryptocurrencies to launder money.

Popular Twitter account FXHedge was the first to warn of a potential move by the Treasury Department, where former Fed chairman Janet Yellen just took office.

The tweet, citing anonymous sources, quickly went viral.

Earlier, on May 15, the US Treasury Department issued sanctions on 32 Russian organizations and individuals that they believe are involved in meddling the US presidential election. The ministry alleges that digital currencies have been used for payments between several institutions, one of which is handling 31,000 transactions worth more than $ 3 million.

Minutes after the tweet was published, the crypto market sank into a deep red zone, with Bitcoin falling from around $ 59,000 to as low as $ 50,990 on the Binance exchange.

Ethereum dropped from around $ 2,260 to as low as $ 1,970 and BNB dropped from around $ 501 to as low as $ 440, according to Coin360.

The US Treasury Department has accused some individuals of using crypto assets to launder money in the past.

In March 2020, the agency sanctioned two Chinese citizens and accused them of laundering stolen cryptocurrencies on behalf of Lazarus – a group of hackers that the FBI has labeled a hacking organization run by the Korean state. Tien sponsor.

Discover Bityard – the first exchange-owned Margin trading platform in the market

Exchanges are one of the booming fields in the cryptocurrency market. Also for that reason, the birth density of the floor is also getting thicker, at a faster rate. But, how to survive, and above all, surpass the big guys in the top cryptocurrency exchanges in the world is still a concern for many project owners. And today, Bityard exchange and its underlying token – BYD, will give you the answer.

Bityard – a new wind for the cryptocurrency market

Bityard is one of the market’s leading platforms for cryptocurrency contract trading. With the motto “Detailed contract, easy transaction”, Bityard has brought more than 100,000 users from more than 150 countries the opportunity to participate in its “Easy transaction” model. This is one of the top cryptocurrency exchanges on the list of choices for users who do not have much investment experience.

Registered for establishment in April 2020 in Singapore, after only two months of operation, Bityard has had many remarkable achievements that few exchanges have. The first is a series of legal and closely monitored Finance licenses from the US Financial Administration (MSB), the Singapore Business Administration (ACRA), the Estonian Financial Administration (MTR), China. Center for analysis and reporting of Australian transactions (AUSTRAC).

Why does Bitcoin Magazine put this information first?

Quite a lot of people think that the cryptocurrency market operates very freely and stands outside the law. However, that is a wrong view; especially in the context of a lot of scam projects, scam exchanges of users money. Therefore, the factor of choosing a platform to deposit trust and assets does not come from the mechanism of how to get rich quickly, but from the fact that the exchange respects the law and ensures the safety of users. or not!

The second outstanding achievement is that, in less than 60 days of operation, Bityard has brought in more than 100,000 active users. Knowing that you are a “latecomer” in the cryptocurrency market, this exchange is extremely focused on the experience and benefits for users. In the early days of registration, the exchange decided to open up to $ 256 Bounty to users. And especially, after completing the account registration on Bityard, users can immediately receive $ 5 into their wallet.

And the third (but not final) bright spot is that Bityard has multilingual support, which is suitable for those who are not too fluent in English. In particular, the floor does not use Google Translate to translate languages. Bityard has almost set up separate teams in each country, including Vietnam, China, Taiwan, Russia, Korea, India, Indonesia, … For the floor version in each country, Bityard has completely optimized the information so that everything is simple and easiest to understand for each investor and trader.

What is Bityard’s competitive advantage?

As a fledgling Margin, Bityard has made great efforts to create its own identity, positioning Bityard’s name in the cryptocurrency market through the following advantages:

Low transaction fees

This is a factor that many investors count when choosing an exchange. A reasonable transaction fee, extremely low spread is the point that Bityard has done better than many other competitors.

This is arguably one of the simplest and most low-cost images of any platform today. Even lower than major platforms such as Binance, Huobi… In addition, the transaction price at Bityard is calculated according to the K-Line model with data from three major exchanges, Binance (30%), OKEx (40%). ) and Huobi (30%) to provide the most fair and accurate overall price.

Users also have a variety of deposit options such as wallet transfer, OTC cash, or credit card.

Free daily mining coin program

With just one computer and one account logged into Bityard, users can fully mine themselves, enjoy rich operating bonuses from the exchange. In addition, the mined coins will be immediately transferred to the wallet, which can be used for direct transactions and reduce transaction fees on the platform.

Simplify recharging

Bityard’s simple Trading mechanism is also optimized for users and especially inexperienced newbies. They have simplified functions as well as complex interfaces on the floor. Users can even trade as low as 5 USDT.

The first Margin exchange owns the exchange coin

In the near future, Bityard will issue an exchange called BYD. The number of tokens issued is 210 million units, 10 times the amount of Bitcoin issued. In the Daily Mining section, Bityard announced that it would issue 10.24 million BYD. Every account activated in the Daily Mining section will receive 6 to 16 BYD tokens randomly.

24/7 support team

When investors know how to divide assets, do not focus on a single exchange, the exchanges must strive to provide the best user service. This is the reason why Bityard focuses on building a 24/7 support team that works in many forms such as live chat, email, and many other communication methods.

Conclude

Overall, Bityard is an impressive trading platform. This is one of the platforms that owns the simplest interface and transaction mechanism, following the motto “Detailed contract, easy transaction”. Moreover, Bityard is exceptionally fully compliant with the law with financial licenses that ensure enough trust for users.

The reference price for Coinbase shares (COIN) is $ 250

Goldman Sachs and Nasdaq have decided that Coinbase (COIN) shares will start trading at $ 250 per share.

That’s a valuation of $ 66.5 billion, assuming an estimated 266.2 million shares outstanding.

Reference prices are calculated using publicly available financial information along with market sentiment and are often a conservative estimate. This is 27% lower than what Coinbase last traded on the private secondary market, at $ 343.58 per share.

Coinbase is set to be the first major crypto business to go public in the United States, and if it reaches a market cap of $ 100 billion, Coinbase will instantly become one of 85 valuable companies. most of the country. The company’s value has skyrocketed over the past year along with bitcoin and ethereum, two major currencies traded on the exchange.

Coinbase has opted for a direct public listing rather than pursuing a traditional IPO. That means that instead of raising cash by selling new shares to a group of institutional investors, Coinbase is allowing parties to hold existing stock, including investors and corporate employees. Immediately sell their shares at market price.

The reference price provided by Nasdaq reflects recent private market transactions and input from investment bankers but does not say where the stock will open. Of the five key direct listed companies that took place on the New York Stock Exchange were Spotify, Slack, Palantir, Asana and Roblox – average opening prices were about 37% higher than reference prices.

If Coinbase opened with a similar percentage increase, the price would be around $ 343, very close to the first quarter average private market price of $ 343.58.

Last week, Coinbase released its Q1 preliminary results that revenue for the period had grown nine-fold to $ 1.8 billion and a net profit of $ 800 million, up from $ 32 million a year earlier. The majority of transactions on Coinbase involve buying and selling of bitcoin and ethereum, with volume increasing by more than 800% and 1,300% over the past year, respectively.

During the full year 2020, revenue more than doubled to $ 1.28 billion, and the company turned from a loss in 2019 to a profit of $ 322.3 million.

Coinbase has outlined its plans to be the hub of the emerging “crypto economy”, in which financial transactions and online markets will largely shift to blockchain, giving investors a lot more. Different digital currencies to trade. But the company has admitted that short-term growth will be largely dictated by the price and volume of bitcoin’s transaction.

Experts predict volatility next week when Coinbase’s IPO goes live

Many market experts recently shared their thoughts on the upcoming Coinbase IPO. The exchange is set to go public next week and is the first cryptocurrency company to be listed on the Nasdaq.

First publicly listed cryptocurrency company

The event of listing a crypto company on a stock exchange is likely to create a volatile week ahead. Chief Financial Officer Greg Foss of Validus Power Corporation sees this as an opportunity for investors to further diversify their portfolio.

“For a crypto investor who also buys stocks, this has the potential to diversify risk because there is a very profitable trading platform on another location (stock exchange). the flow of buyers and sellers may be less correlated with the price of cryptocurrencies.

Coinbase will be publicly listed this week without raising additional capital. The company is currently valued at $ 90 billion by its last privately traded week on the Nasdaq.

The possibility of listing on this stock exchange and being publicly traded will attract more attention as investors diversify their holding assets. D.A.’s Gil Luria Davidson & Co. considering the listing a win for Coinbase, stating:

“Coinbase will win no matter which crypto asset emerges as a winner and their revenue is tied more with transaction volume, often less volatile than asset value.”

Coinbase shares are a safer investment bet

The listing will be considered a less volatile way to enter the cryptocurrency market, which is inherently volatile. However, as the first publicly listed cryptocurrency, first week’s volatility is highly probable.

Head of global macro strategy at Delphi Digital research firm Kevin Kelly believes that first week’s volatility will be similar to the volatility of the cryptocurrency market. Kelly said:

“I expect to see a lot of volatility next week as COIN starts to trade, but eventually I think we’ll see it trade more in line with the trends of the broad crypto market.”

Kelly considers public listing a game with lower risks in the market compared to investing directly in crypto assets.

While experts consider the upcoming IPO, all eyes will be on the company’s stock performance. Because it breaks new barriers to the crypto market.

If you invested $ 10,000 in Dogecoin (DOGE) this day last year, how much money do you have today?

Over the past 24 hours, Dogecoin (DOGE) has risen 120% to ATH $ 0.29. According to calculations, with the opening price on January 1, 2021 being $ 0.00470660, if you invested $ 10,000 that day then the money you hold now would be worth $ 616,150.

If you invested on January 1, 2020, with an opening price of $ 0.00203106, you would have bought 4,923,530 DOGE when you invested $ 10,000, its value would now be $ 1,427,820.

If you invest $ 10,000 on this exact date last year (April 16, 2020), when DOGE is being traded at $ 0.00194563, you will buy 5,139,723 DOGE, which is equivalent to a valuable asset. $ 1,490,519.


DOGE 1 year price chart

And there is still no sign of stopping, Dogecoin is continuing to trade higher by 2021, the amount you hold will change in a “unimaginable” way. Dogeoin has been trending on Twitter throughout 2021 with #dogecoin and #dogetothemoon consistently among the global trending topics.

Right now traders are shouting for a crazier price tag, $ 1 per DOGE, which means you would have $ 5,139 million if that were true.

Why does Dogecoin have such a price?

Dogecoin doesn’t have a limited supply like Bitcoin, but that hasn’t stopped traders from jumping into the meme party with Elon Musk. American professional basketball team Dallas Mavericks has even started accepting Dogecoin as a payment option, and has vowed not to sell it ahead of $ 1.

One of the reasons driving Dogecoin’s price is the world’s second-richest billionaire Elon Musk, who has been constantly promoting Dogecoin and sharing his dog crypto memes Shiba Inu, the symbol of Dogecoin, for more than 50. million followers on individual Twitter.

On March 12, Musk urged Coinbase to add Dogecoin to his platform, and on April 1, the space company CEO SpaceX tweeted that he would literally send “a Dogecoin to the moon”. While this may just be an April Fool’s Day joke, DOGE is still up about 32% after Musk’s tweet.

Dogecoin has risen to the 8th largest cryptocurrency market cap with $ 32.4 billion. Bitcoin has a market cap of $ 1.2 trillion and Ethereum at $ 282 billion.

If you throw some money at Dogecoin in early 2021, this could be one of the best performing assets in your portfolio.

Reasons to join Ola Network

Ola Network is a technology company headquartered in Singapore and operating in the Vietnamese market. Ola Network is a new affiliate marketing platform combining Affiliate Marketing & Cashback that helps members utilize their free time to earn extra income by performing some simple tasks like signing up. account, watch ads, download apps… or you can save money by participating in the cashback program when shopping at thousands of online and offline stores affiliated with Ola Network. With the founding team of leading experts in the fields of technology, finance and communications, Ola Network is expected to become the leading marketing and communication platform in Vietnam, making it easy for businesses to access. to tens of millions of customers quickly, simply and efficiently.

Ola Network helps members (Publisher) participate in making money between over 3 main tasks:

1. Promote business campaigns, help businesses sell or contact their customers quickly, simply and effectively.

2. Perform money-making tasks such as downloading apps, registering accounts, doing surveys, playing games, watching ads for money.

3. Cashback shopping at partners who are online e-commerce sites or offline shops or shops affiliated with Ola Network.

A special thing about Ola Network is that members participating in Ola Network can refer friends to make money for free and enjoy 5% of the total income of all members in the 10-tier member system. surname. This is considered to be an extremely special development policy, good point application of multi-tier Affiliate model, but not multi-level selling because Ola Network absolutely does not sell, does not charge any fees. membership and not mobilizing capital.

Free registration link: https://ola.network/ref/8pe8bd

In general, there are 5 special reasons that we should join Ola Network right away:

Ola Network is completely free

All members registered to join Ola Network are completely free, with no purchases or investments, or any expenses.

Second: Anyone can do it

The program is extremely simple, everyone is easy to understand, anyone can do just having 1 device connected to the internet such as a computer or smartphone, anywhere, anytime.

The 10-story team building model is extremely good

With Ola Network, members’ income will not be limited by their time or ability, they can earn unlimited income from building team with them. Using the power of hundreds of thousands of people working together.

Real passive income

When building a system of thousands of people in the system, the 5% bonus on the total income of all members in the 10-tier system will help Ola Network members get a source of passive income and lasting.

New project, extremely good development ability

As a new project, just started testing from July 1, 2020 and officially operated from August 8, 2020, the project still has an extremely large room for development. Within the first year of the foundation year, right now is the time to get involved and take advantage of this unique opportunity.

How to apply Fractal in trading

The fractal indicator is a simple price pattern commonly found in financial markets. Outside of the trading realm, a fractal is a geometric pattern that repeats itself on all timeframes. From this concept, the fractal indicator has been established. The indicator separates potential turning points on the price chart. Then, draw arrows to indicate the model. A bullish fractal pattern signals a possible move higher. On the contrary, a bearish fractal signals a possible decline. A bullish fractal is marked with a down arrow and a bearish fractal is marked with an up arrow.


Source: Tradingview

What does the fractal indicator say?

The fractal indicator generates frequent signals. The existence of the fractal is not necessarily that important because this pattern is very common.

Fractal shows the ability to change trend. This is because fractal is essentially showing the “U-shaped” price. A bearish fractal has price moving up and then down, forming a U. A bullish fractal occurs when the price falls but then begins to rise, forming a U.

Because fractals happen so often and many signals are not a reliable entry point, fractals are often selected using some other form of technical analysis. Bill Williams also invented the Alligator indicator that helps separate trends. By combining fractal with trend analysis, traders can decide to only trade on bullish fractal signals while the price trend is up. If the trend is bearish, they can only do short trades based on bearish fractal signals.

Fractals can also be used with other indicators, such as the pivot point or the decreasing Fibonacci level. Fractal is only triggered if it matches one of these indicators and is likely a long-term price trend. For example, let’s say a crypto tends to go higher. The price is falling back and reaching the Fibonacci of 50%. Since the trend is up and the price is close to the downside Fibonacci, the trader will enter a trade if a bullish fractal forms.

Difference between fractal indicator and chart pattern

The fractal indicator is unique in that it identifies the price pattern and marks it on the chart. Fractal is a specific five-bar model. Patterns can also be plotted on charts, though they’re not limited to five price bars. They also include many different shapes, such as triangles, rectangles, and wedges. While some software will mark the pattern on the chart, most charters will find and split the chart template manually.

Limitations of using fractal indicators

The main problem with fractals is that they come out too much. They happen often and if we try to trade all of them they will quickly run out of trading accounts due to loss of trades. These are called false or ‘jagged’ (whipsaw) signals. Therefore, filter signals with some other indicator or form of analysis.

The indicator arrows are usually drawn on the top, bottom, or midpoint of the fractal, not where the fractal completes. Therefore, arrows can deceive vision. Since the pattern is actually completing two bars to the right of the arrow, the first available entry point after seeing the arrow is the opening price of the third bar to the right of the arrow.

How and model of Fractal application in trading?

There are 2 forms of unrelated fractal analysis commonly recognized by traders:

  • Reversing fractal pattern
  • Fractal: Analyze multiple timeframes

Fractal reversal pattern

Fractal in technical analysis terms is a five-bar / candlestick trend reversal pattern. For a bullish reversal fractal pattern:

  • The third candle in a series of five candles will be marked as having the lowest low
  • The first two candles in the pattern have a higher low than the middle candle

The chart below shows a bullish fractal pattern:

The bullish reversal fractal pattern shows the end of the short-term downtrend and the start of a new uptrend. Traders can use this pattern as either a long entry signal or a signal to exit an existing short position.


The fractal pattern reverses in price

Many traders will use fractal signals in combination with oscillators such as the Stochastic indicator or the relative strength index (RSI) to confirm bullish buy signals. In this respect, a buy fractal signal will be considered to be of higher value when accompanied by an oversold signal.


The fractal pattern reverses in price

For a bearish reversal fractal pattern:

  • The third candle in a series of five candles will be marked as having the highest high
  • The first two candles in the pattern have a lower high than the middle candle
  • The last two candles in the pattern will have a lower high than the middle candle

The chart below shows a bearish reversal fractal pattern:

A bearish reversal fractal pattern shows the end of the short-term uptrend and the start of a new downtrend. Traders can use this pattern as either a short entry signal or an exit signal to an existing long position.

The fractal pattern reverses price

Traders often use fractal signals in combination with oscillators like Stochastic or RSI to confirm bearish signals. In this regard, fractal sell signals will be considered to have higher value when accompanied by an overbought signal.


The fractal pattern reverses price

Fractal: Analyze multiple timeframes

Another unrelated interpretation of fractal analysis in trading is analyzing multiple timeframes. In this regard, traders can use the timeframe of their analysis to provide predictive views and trading ideas.

For example, a trader can use a daily or weekly timeframe to get a better overview of the market he wants to trade. Then, traders look at smaller timeframes like 1 hour or 15 minute charts to help correct entry and exit points.

You can refer to a simple fractal trading strategy like this:

1. Identify the main trend on the daily chart
2. Use the 1-hour chart to identify market entry and exit points
3. Input signals on the 1 hour time frame are considered only if they match the trend derived from the daily chart.
4. The anti-trend signals identified on the daily timeframe are not signals for trading against the trend but a hint to exit current positions.

Summary

There are 2 common trading concepts in fractal technical analysis: a reversal fractal pattern and a fractal that analyzes multiple timeframes.

Fractal reversal pattern:

  • The bullish fractal implies the end of the downtrend and a possible new uptrend
  • The bullish fractal is considered a signal to exit a short position or the signal to enter a long position
  • These patterns are made up of five bars or candles
  • The middle candle in a pattern has a lower low than the previous and next candles
  • The first two candles in the pattern have a higher low than the middle candle
  • The last two candles in the pattern also have a higher low than the middle candle
  • Oversold signals are often used to confirm bullish fractal patterns
  • A bearish fractal implies that the uptrend is over and a new downtrend may be followed
  • A bearish fractal signal is considered a long exit or a short entry signal
  • These patterns are made up of five bars or candles
  • The middle candle in a pattern has a higher high than the previous and following candles
  • The first two candles in the pattern have a lower high than the middle candle
  • Overbought signals are often used to confirm bearish fractal patterns

Fractal: Analyze multiple timeframes

  • Fractal can use multiple timeframes in transactions
  • Traders can look at the larger chart timeframe for a better view, i.e. a measure of the long-term trend.
  • Traders can then look at the smaller chart’s timeframe to reach those entry and exit trigger points
How multi-leg options allow traders to profit from $ 2K ETH price

Last week, ETH price finally surpassed $ 2,000 as institutional capital inflow actively poured into Grayscale Investments products and declining exchange reserves suggesting increasing buying pressure.

While many traders have the skills to use perpetual futures and the basic margin trading tools available on most exchanges, they may not be aware of what other tools help maximize. profit. A simple, though expensive way is to buy options to buy ETH.


60-day historical volatility | Source: TradingView

For example, a call option on March 26 with an strike price of $ 1,760 trades at $ 340. Under the current situation, holders will only gain profits if ETH trades above $ 2,180 for 39 days, up 21% from $ 1,800. If ETH stays the same at $ 1,800, the trader will lose $ 300. This is certainly not an excellent reward-risk profile.

By using buy and sell options, a trader can create a variety of strategies to reduce costs and improve potential profits. They can be used in bullish and bearish scenarios, and most exchanges offer an easy to access options platform right now.

Recommended bullish strategy involves selling $ 2,240 put to create positive exposure to ETH while simultaneously selling $ 2,880 call to reduce gains above that threshold. These transactions are simulated from ETH price at $ 1,800.

2 out of money (small odds) positions are required to protect from a potential price crash below 20% or ETH rising above 130%. Those additional trades will give the trader peace of mind while also reducing margin requirements (collateral).


Profit / Loss Estimation | Source: Deribit Position Builder

The above transaction consists of selling 1 ETH contract of the 26/3 put option at a strike price of $ 2,240 while selling 1 other ETH contract with the strike price of $ 2,880. Additional transactions also help avoid undesirable circumstances for the same expiration date.

Traders need to buy the 0.73 ETH contract of the $ 4,160 call option to avoid excessive losses. Similarly, buying the 1.26 ETH contract of the $ 1,440 put option will protect from the more significant negative price moves.

As the estimate above shows, any result between $ 1,780 and $ 3,885 is positive. For example, a 20% increase in price to $ 2,160 resulted in a net profit of $ 478. Meanwhile, this strategy’s maximum loss is $ 425 if ETH trades at $ 1,440 or lower on March 26.

On the other hand, this strategy can make a net profit of $ 580 or more between $ 2,240 and $ 3,100 at expiration. Overall, it offers a much better reward-risk than trading on leveraged futures for example. Using 3x leverage will have a loss of $ 425 as soon as ETH drops 8%.

This multi-option strategy trading offers a better reward-risk for those looking to get exposed to the upheaval of ETH. Furthermore, there are no upfront payments involved in the strategy, except for margin or collateral requirements.