Part One:
So, despite all my expectations of continued BTC rise to the area at 7200$ - 7400$, BTC followed stock market crash and dumped also.
As a result of the trading session on Thursday, the Dow Jones Industrial Average fell by 831 points (3.1%) to the level of 25,598.74 points. For Dow Jones, this is the maximum one-day drop since February 8, 2018, when the index dropped to 1033 points (4.2%).
The S&P 500 fell 3.3% to a level of 2,785.65 points, which was also the worst fall since February of this year. At the same time, the S&P 500 Information Technology Index subindex fell by 4.8% showing the worst dynamics over the past 7 years, a more serious drop was shown in August 2011, when the index fell by 5.3%.
The NASDAQ index at the end of the trading session lost 4.1% and dropped to 7,422.05 points. For NASDAQ the fall of October 10 was the worst since June 24, 2016.
Shares of Apple (AAPL) fell from 225$ to 212.74$ (-5.4%) (today's low) and Amazon (AMZN) from 1858$ to 1686$ (-9.25%) (today's low), but after there was a correction and prices are rised a bit.
So, despite all my expectations of continued BTC rise to the area at 7200$ - 7400$, BTC followed stock market crash and dumped also.
As a result of the trading session on Thursday, the Dow Jones Industrial Average fell by 831 points (3.1%) to the level of 25,598.74 points. For Dow Jones, this is the maximum one-day drop since February 8, 2018, when the index dropped to 1033 points (4.2%).
The S&P 500 fell 3.3% to a level of 2,785.65 points, which was also the worst fall since February of this year. At the same time, the S&P 500 Information Technology Index subindex fell by 4.8% showing the worst dynamics over the past 7 years, a more serious drop was shown in August 2011, when the index fell by 5.3%.
The NASDAQ index at the end of the trading session lost 4.1% and dropped to 7,422.05 points. For NASDAQ the fall of October 10 was the worst since June 24, 2016.
Shares of Apple (AAPL) fell from 225$ to 212.74$ (-5.4%) (today's low) and Amazon (AMZN) from 1858$ to 1686$ (-9.25%) (today's low), but after there was a correction and prices are rised a bit.
Lets take the last two years for a comparative analysis, since the active life of the cryptocurrency market is just not more than two years, if judge by the market capitalization of the crypto.
As we can see there is a correlation between the stock and cryptocurrency markets, but with some provisos, which will be discussed below.
The cryptocurrency market lives its own life from the stock until exact moment when there are significant drops in the stock, which we saw today. Even if the stock market continues its decline without sharp dumps, but with gradual decreases, the affect to crypto wont be so signaficant.
So if the cryptocurrency market had planned bullish mood, which was interrupted by falling of the stock market, then after the fall there is a high probability that the bitcoin price will return to that value from which it began to fall (6450$-6600$).
Recall the strength of technical analysis: whatever manipulations or external factors (not fundamental news directly related to the market) affect to the price, the TA will work sooner or later, gradually returning to its original value to continue reaching the targets by TA.
As we can see there is a correlation between the stock and cryptocurrency markets, but with some provisos, which will be discussed below.
The cryptocurrency market lives its own life from the stock until exact moment when there are significant drops in the stock, which we saw today. Even if the stock market continues its decline without sharp dumps, but with gradual decreases, the affect to crypto wont be so signaficant.
So if the cryptocurrency market had planned bullish mood, which was interrupted by falling of the stock market, then after the fall there is a high probability that the bitcoin price will return to that value from which it began to fall (6450$-6600$).
Recall the strength of technical analysis: whatever manipulations or external factors (not fundamental news directly related to the market) affect to the price, the TA will work sooner or later, gradually returning to its original value to continue reaching the targets by TA.
Part Two:
What to expect from the stock market in the near future and how it may affect to Bitcoin
I will start the second part from the end - how the stock market affects to bitcoin rate and the cryptocurrency market at all.
Take a look at the comparative graph below:
What to expect from the stock market in the near future and how it may affect to Bitcoin
I will start the second part from the end - how the stock market affects to bitcoin rate and the cryptocurrency market at all.
Take a look at the comparative graph below:
What to expect from the stock market in the near future?
Regarding short-term predictions by stock market:
In general many analysts believe that the current global correction of stock market can continue only for a few days. In this case a serious driver for the growth of US indices can be a season of reports, which starts on 12th of October.
There is also a high probability of reducing political risks after the midterm elections in the United States, which will be held on October 6, where the lower chamber of the US Congress (US House of Representatives) is fully reelected, 35 senators from 100 and 36 state and territory governors.
In the event of the victory of the majority of Democrats in the elections, the scales will bow against the presidency of Trump and his powers can greatly cut down on some issues.
Although even I do not live in the USA, but as for me Trump has fucked many of them with his policies, especially his tax reform, as well as raising customs duties on imports of products from other countries, which had a very negative effect on many large companies that buy equipment or raw materials from abroad.
So let's hope the Democrats win, to pacify the American billionaire madman.
Situation is quite bad regarding mid-term predictions by stock market:
Since the US Federal Reserve is not subordinate to the president, Trump cannot influence the interest rates of the FRS in any way. And FRS raises the interest rate each time, and when the crisis sets in, it will motivate people to borrow, which will have a negative effect on the economy as with each increase the situation will only worsen.
Also do not forget about the trade war with China. And by the way, those who are now working in the US in logistics spheres are already beginning to feel the onset of the crisis. And the next financial crisis will be worse than the previous one - subprime mortgage crisis,
Regarding short-term predictions by stock market:
In general many analysts believe that the current global correction of stock market can continue only for a few days. In this case a serious driver for the growth of US indices can be a season of reports, which starts on 12th of October.
There is also a high probability of reducing political risks after the midterm elections in the United States, which will be held on October 6, where the lower chamber of the US Congress (US House of Representatives) is fully reelected, 35 senators from 100 and 36 state and territory governors.
In the event of the victory of the majority of Democrats in the elections, the scales will bow against the presidency of Trump and his powers can greatly cut down on some issues.
Although even I do not live in the USA, but as for me Trump has fucked many of them with his policies, especially his tax reform, as well as raising customs duties on imports of products from other countries, which had a very negative effect on many large companies that buy equipment or raw materials from abroad.
So let's hope the Democrats win, to pacify the American billionaire madman.
Situation is quite bad regarding mid-term predictions by stock market:
Since the US Federal Reserve is not subordinate to the president, Trump cannot influence the interest rates of the FRS in any way. And FRS raises the interest rate each time, and when the crisis sets in, it will motivate people to borrow, which will have a negative effect on the economy as with each increase the situation will only worsen.
Also do not forget about the trade war with China. And by the way, those who are now working in the US in logistics spheres are already beginning to feel the onset of the crisis. And the next financial crisis will be worse than the previous one - subprime mortgage crisis,
Part Three:
Brief TA by S&P 500
On the graph below you can see how S&P 500 formed wedge pattern and target according to the wedge was reached. If my calculations are correct then the falling should stop (of course if there dont be any other fundamental factors) and frst target by correction could be at 2760 points (23,6% by Fibo) and 2800 points (38,2% by Fibo).
Brief TA by S&P 500
On the graph below you can see how S&P 500 formed wedge pattern and target according to the wedge was reached. If my calculations are correct then the falling should stop (of course if there dont be any other fundamental factors) and frst target by correction could be at 2760 points (23,6% by Fibo) and 2800 points (38,2% by Fibo).
Part Four:
TA by BTC
Before starting TA by BTC, I would like return back to the influence of today's stock market crash to crypto market: In the beginning of this market update I wrote that BTC was dropped because of crash on stock market, but now I am more inclined to think that there was no particular correlation between these markets. If you look strictly according to technical analysis, then this fall could have been foreseen, since an upward wedge was formed, but I did not notice it for several reasons, and the main was that the wedge was not so clearly visible.
Look to the chart below:
TA by BTC
Before starting TA by BTC, I would like return back to the influence of today's stock market crash to crypto market: In the beginning of this market update I wrote that BTC was dropped because of crash on stock market, but now I am more inclined to think that there was no particular correlation between these markets. If you look strictly according to technical analysis, then this fall could have been foreseen, since an upward wedge was formed, but I did not notice it for several reasons, and the main was that the wedge was not so clearly visible.
Look to the chart below:
Hashed Plutus (Crypto Signals, Technical Analysis, Education and News) pinned «UPDATE BY MARKET SITUATION Hey fellas! Today I will post quite big update than post usually. The follwing themes will be discussed today: 1. Stock market crash. 2. What should we expect from stock market in near future and how it can affect to BTC. 3. Brief…»
No, The Internet Is Not Going To Be Offline For 48 Hours For Maintenance
According to ANI, which quotes Russia Today, the Internet Corporation of Assigned Names and Numbers (ICANN) will be carrying out maintenance work over the next two days, “changing the cryptographic key that helps protect the internet’s Domain Name System (DNS)”.
This process is called the DNS Root Zone KSK Rollover. It’s where ICANN changes the top pair of cryptographic keys used in the DNSSEC protocol, commonly known as the Root Zone KSK (Key Signing Key). It’s also the first time this will be happening since 2010.
According to ANI, which quotes Russia Today, the Internet Corporation of Assigned Names and Numbers (ICANN) will be carrying out maintenance work over the next two days, “changing the cryptographic key that helps protect the internet’s Domain Name System (DNS)”.
This process is called the DNS Root Zone KSK Rollover. It’s where ICANN changes the top pair of cryptographic keys used in the DNSSEC protocol, commonly known as the Root Zone KSK (Key Signing Key). It’s also the first time this will be happening since 2010.
Part Five:
Analysis by wallets
Last time we made one whale's wallet analysis which transferred 4k$ BTC on 28.09.2018 and came to conclusion that after such transaction price starts rise. But last time we didnt see any rise and price dropped down to 6300$ (by Bitfinex).
And so, the interesting moment: there was such 4k BTC transaction today.
So, lets hope that my latest TA will work and wallet analysis will be correct.
Analysis by wallets
Last time we made one whale's wallet analysis which transferred 4k$ BTC on 28.09.2018 and came to conclusion that after such transaction price starts rise. But last time we didnt see any rise and price dropped down to 6300$ (by Bitfinex).
And so, the interesting moment: there was such 4k BTC transaction today.
So, lets hope that my latest TA will work and wallet analysis will be correct.
“In-depth analysis of Bitcoin after the Crash”
https://medium.com/@armarsam/in-depth-analysis-of-bitcoin-after-the-crash-6ed2128dfbbc
https://medium.com/@armarsam/in-depth-analysis-of-bitcoin-after-the-crash-6ed2128dfbbc
Medium
In-depth analysis of Bitcoin after the Crash
Hey fellas!
Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
Part Three: Brief TA by S&P 500 On the graph below you can see how S&P 500 formed wedge pattern and target according to the wedge was reached. If my calculations are correct then the falling should stop (of course if there dont be any other fundamental factors)…
Target 1 achieved 🤗
Told you it's zero bullshit and truck load of knowledge. Today my absolutely mashed team has decided to cut the technicals and explain the most crucial part of the ethereum blockchain.
Smart Contracts
What Is a Smart Contract?
It is an electronic algorithm for signing self-executing contracts on a blockchain. A smart contract describes an agreement in a mathematical language, which allows for eliminating differences in the interpretation of its terms and third-party interference into the process of its execution. In other words, a smart contract enables parties to exchange assets with no need for an intermediary.
The idea of a smart contract was originally introduced by Nick Szabo in 1996. In practice, it was first technically implemented by Vitalik Buterin in his project Ethereum that was launched in 2013.
According to a study of the Accenture consulting company, the banking sector alone can save up to $12 billion annually using smart contracts and blockchain.
Also, one of the potential areas for the deployment of smart contracts is the electoral system as they make it possible to completely exclude interference and manipulation in the voting system.
The use of smart contracts will save time and allow for monitoring the system in real time in logistics with complex supply chains in which each link must coordinate its actions with other participants in the process.
In management, the use of smart contracts will make payments to employees and customers upon the achievement of certain conditions described in the smart contracts.
Now that's something that needs more discussion. Well at Hashed Plutus we got that covered for our creamy mashed potatoes. I'm working on the article and will have it published in a couple of hours.
Stay Mashed baby!
Smart Contracts
What Is a Smart Contract?
It is an electronic algorithm for signing self-executing contracts on a blockchain. A smart contract describes an agreement in a mathematical language, which allows for eliminating differences in the interpretation of its terms and third-party interference into the process of its execution. In other words, a smart contract enables parties to exchange assets with no need for an intermediary.
The idea of a smart contract was originally introduced by Nick Szabo in 1996. In practice, it was first technically implemented by Vitalik Buterin in his project Ethereum that was launched in 2013.
According to a study of the Accenture consulting company, the banking sector alone can save up to $12 billion annually using smart contracts and blockchain.
Also, one of the potential areas for the deployment of smart contracts is the electoral system as they make it possible to completely exclude interference and manipulation in the voting system.
The use of smart contracts will save time and allow for monitoring the system in real time in logistics with complex supply chains in which each link must coordinate its actions with other participants in the process.
In management, the use of smart contracts will make payments to employees and customers upon the achievement of certain conditions described in the smart contracts.
Now that's something that needs more discussion. Well at Hashed Plutus we got that covered for our creamy mashed potatoes. I'm working on the article and will have it published in a couple of hours.
Stay Mashed baby!