The Osiris team remains constantly improving predictive and trading algorithms to deliver the best results achievable. We are using the bearish trend of the recent days as a wonderful opportunity to stress-test our systems and to make them less susceptible to statistical outliers.
Yesterday, we discussed that bitcoin price remains sell near the $4,200 level against the US Dollar. The BTC/USD pair did trade lower recently and broke the $3,950, $3,900 and $3,880 support levels. The price even traded below the $3,800 level and settled below the 100 hourly simple moving average. A new weekly low was formed at $3,734 before the price bounced back. (Source: newsbtc.com/2018/12/04/bitcoin-price-watch-btc-usd-facing-major-resistance-near-4150/)
On Monday, Joseph Christinat, Vice President of Communications at Nasdaq, confirmed that the second-largest exchange in the world will definitely be launching a Bitcoin futures product in the first half of 2019. We first head about Nasdaq's upcoming Bitcoin futures last week during the "Consensus: Invest 2018" conference in New York City. According to an article in UK newspaper Daily Express, a Nasdaq VP, Joseph Christinat, has said: “Bitcoin Futures will be listed and it should launch in the first half of next year – we’re just waiting for the go ahead from the CFTC but there’s been enough work put into this to make that academic. "We’ve seen plenty of speculation and rumours about what we might be doing, but no one has thought to come to us and ask if we can confirm it, so, here you go – we’re doing this, and it’s happening". Christinat also added that the worsening bearish sentiment in the crypto market is not going to deter Nasdaq from launching Bitcoin futures contracts in H1 2019: "We got into the blockchain game five years ago, and when the technology first popped up we just leant out of the window and shouted ‘hey come over here’ right at it. We’ve put a hell of a lot of money and energy into delivering the ability to do this and we’ve been all over it for a long time – way before the market went into turmoil, and that will not affect the timing of this in any way. No. Period. We’re doing this no matter what." (Source: cryptoglobe.com/latest/2018/12/nasdaq-comms-vp-confirms-bitcoin-futures-in-h1-2019-were-doing-this-no-matter-what/)
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 almost three weeks since the notable Bitcoin Cash hard fork, which has resulted in two rival chains, Bitcoin ABC 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 Bitcoin ABC chain is slightly ahead in terms of hash power (52%) and simultaneously has secured a 30-block advantage and 70% of the network's nodes (Sources: cash.coin.dance, blockchair.com/bitcoin-cash/blocks). The mining profitability of Bitcoin SV is continuously volatile: as for now, it is 55% more profitable to mine on the original Bitcoin chain. Bitcoin ABC is still securing a modest advantage in terms of mining profitability, fluctuating from 3% to 20% depending on the hash rate and BAB price (as for now, it has a 9.7% advantage as compared to Bitcoin and 63% advantage compared to the rival SV chain). Bitcoin ABC miner composition remains less concentrated, with leading mining pools changing day by day. As for today, BTC.top and ViaBtc tie first together, both having mined 18.75% of recent blocks, followed by BTC.com with slightly above 18%. Bitcoin ABC is continuing to attract occasional mining from Waterhole, Prohashing, DPool, Copernicus and okminer, the first three pools now consistently mining at least one block every day (Sources: cash.coin.dance/,blockchair.com/bitcoin-cash/blocks), contributing to the overall more healthy and diverse environment of the ABC chain, stemming from more attractive mining profitability and more technologically reasonable adjustable blocksize cap solution implemented by the Bitcoin ABC team. As for the SV chain, more than 85% of blocks are mined by four pools: SVPool, Coingeek, BMG Pool and Mempool. Interestingly, unnaturally large blocks typical of the SV chain immediately post-fork and evidently designed to evidence the increased block size reflecting "Satoshi's Vision" have now also become virtually non-existent. These facts arguably continue to evidence that the Bitcoin ABC chain is comparatively more sustainable. In that regard, the Osiris team remains bullish on the BAB coin, despite recent performance leaves much to be desired.
Thank you for staying in touch. We are looking forward to your feedback and any suggestions here at TradingView.