NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

eToro Market Update: Lady of Paris

NewsBTC
NewsBTC
4 years ago
5 mins read
bitcoin,crypto, market, paris, trading, blockchain, ethereum

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Hi Everyone,

Regardless of religion or nationality, I think most people can’t help but feel emotional about the recent fire in Paris’s iconic gothic Cathedral.

Nearly $1 billion has already been collected by four organizations responsible for the restoration of the Roman Catholic church, including from some of the world’s richest people and organizations.

Now it seems that even the crypto community is getting involved in the effort. Though the amounts collected so far are merely symbolic (0.23049983 BTC as of this writing), the idea is that global money should be easily allocated to raise capital and this is a prime use case for that.

France’s Minister for the Digital Economy, Cedric O, has been very bullish on blockchain so far and is extremely open to the idea…

crypto, cryptocurrency, market, trading, bitcoin, ethereum, blockchain, stocks, paris

In some countries, this sort of effort would be near impossible but at the moment France is demonstrating that they are a clear leader of mainstream crypto adoption in the European Union.

Mr. O’s keynote speech was one of the highlights of the ongoing blockchain week in Paris, second of course to Yoni Assia’s keynote that we highlighted yesterday and this awesome panel discussion (timestamp: 9:15) about how digital assets are integrating into the current financial system.

@MatiGreenspan – eToro, Senior Market Analyst

Due to local holidays, there will be no market update tomorrow or Monday. We will resume on Tuesday, April 23rd.

Today’s Highlights

  • Long Weekend Ahead
  • Three Black Spy Crows
  • Looking at Aug-2 Surge

Please note: All data, figures & graphs are valid as of April 18th. All trading carries risk. Only risk capital you can afford to lose.

Traditional Markets

Trading is likely to be a bit wonky for the next few days. Tomorrow is Good Friday and Monday is Easter Monday, with the Jewish Holiday of Passover beginning tomorrow. Many investors and traders especially in Europe, Canada, and Australia will be out for a long weekend.

The world’s two largest economies, USA and China, will be operating at full capacity as they work towards a possible trade deal, in the hopes it will be agreed and signed in the coming months.

Three Black Spy Crows

An interesting pattern has emerged on one of the charts that I think is worth highlighting. For those not familiar, the SPY is the largest ETF in the world and is designed to track the S&P 500. Needless to say, it’s pretty popular among traders and analysts looking to get a handle on the markets.

Here’s the chart, with each candlestick set to one day. Take a look at those last three candles.

crypto, cryptocurrency, market, trading, bitcoin, ethereum, blockchain, stocks, paris

Even though they’re clearly red, this pattern is known often referred to as the three black crows and it usually represents a bearish turn in sentiment.

crypto, cryptocurrency, market, trading, bitcoin, ethereum, blockchain, stocks, paris

What’s interesting about the above graph is that even though all the last three candles are red, the opening price of each day has been higher than the previous one. So it seems that traders are clearly looking for a lower price, but the indices are being brought up after hours.

Just for fun, let’s go one step deeper here. This graph shows the SPY in candlesticks, and overlayed is the S&P 500, which it tracks in green. The S&P 500 actually trades 23 hours a day, while the SPY only trades during the US market open hours. So we can see a bit better how this behavior is playing out.

crypto, cryptocurrency, market, trading, bitcoin, ethereum, blockchain, stocks, paris

Crypto Consolidation

Crypto markets continue to consolidate the gains accumulated on April 2nd and the aftermath of that surge. By now, volatility and volumes have come down again and seem to be returning to their pre-April Fools day levels. As we said before, this sort of stabilization is quite positive at this point.

So, now should be a good time to take a closer look at what actually caused that massive surge in the first place.

An interesting report from TradeBlock takes a deep dive into the order books across the top exchanges at the exact time of the surge. Here is one of the key graphs, which shows that volumes were highest on Bitfinex, Coinbase Pro, and Kraken.

crypto, cryptocurrency, market, trading, bitcoin, ethereum, blockchain, stocks, paris

The report refutes the claim that the surge was allegedly caused by a massive order that was coordinated on Bitstamp, Kraken, and Coinbase, saying that Bitstamp had nothing to do with it.

Still, to me, the narrative that this was about one large buyer was less about which exchanges exactly were involved and more about how many people were involved in moving the market. In addition, while a good insightful read, the report leaves a lot to be desired as it only examines exchanges that are available in the United States and, as we previously mentioned, the April 2nd surge clearly happened during the Asian trading session.

So we’re really no closer to finding out what exactly happened there. My opinion remains that this was a technical move caused by the break of the psychological resistance at $4,200, regardless of how many players were involved.

Another report came out yesterday that I thought was interesting. This one from Cryptocompare.com, which analyses the industry on a monthly basis.

Figure 6 shows the distribution of volume between crypto-to-crypto and fiat-to-crypto exchanges.

crypto, cryptocurrency, market, trading, bitcoin, ethereum, blockchain, stocks, paris

I thought this was interesting given that March was the height of altseason. Still, looking for a better view of this trend, the good folks at cryptocompare were kind enough to send me the following graph which shows the same stats since the start of 2017.

crypto, cryptocurrency, market, trading, bitcoin, ethereum, blockchain, stocks, paris

From the looks of it, the trend is pretty clear. Overall volumes are indeed growing but the percentage of volumes that are coming from fiat into crypto is shrinking over time.

It will be interesting to see how these numbers come out for April as that could give us a bit more insight into the April Fools surge.

Wishing everyone an amazing holiday and a wonderful weekend.

About the Author: Mati Greenspan is a Senior Market Analyst at eToro

Connect with Mati on….

eToro: http://etoro.tw/Mati
Twitter: https://twitter.com/matigreenspan
LinkedIn: https://www.linkedin.com/in/matisyahu/
Telegram: https://t.me/MatiGreenspan
Office Phone: +44-203-1500308 (ext:311)

Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC 
or any of its team members. NewsBTC is neither responsible nor liable for the accuracy of 
any of the information supplied in Sponsored Stories/Press Releases such as this one.
Tweet123Share196ShareSend
NewsBTC
NewsBTC

NewsBTC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

How to trade crypto

How To Trade Crypto

How to trade crypto – a question that resonates with many in the rapidly evolving digital asset space. Whether you’re...

Jake Simmons 1 year ago

Bitcoin Hovers Below $50k After Weekend Wipeout – Crypto Roundup, Dec 6, 2021

Ethereum shows strength as MATIC rises 7%  Global market jitters spread to crypto at the weekend, with Bitcoin falling to...

NewsBTC 3 years ago

Crypto Market Analysis: December 6, 2021

Bitcoin and ether suffered a major flash crash over the weekend, sending cryptoasset values down by some 20% at points....

NewsBTC 3 years ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Cena Bitcoinu pod 80 tisíc $

Cena Bitcoinu pod 80 tisíc $. Ako čo najlepšie využiť pokles na kryptotrhu?

Nina Šefčíková 4 months ago

Dogecoin a Shiba Inu stagnujú. Oplatí sa sledovať tieto predpredaje?

Nina Šefčíková 5 months ago
how to trade Bitcoin

Learn How To Trade Bitcoin

Jake Simmons 1 year ago

Premium Sponsors

Press Releases

  • アルトコイン急騰の今買うべき仮想通貨プレセール

    ...

    10 hours ago
  • 仮想通貨おすすめ|強気市場で爆発的成長が見込まれる注目のミームトークン

    ...

    10 hours ago
  • BTC最高値更新の中で注目される新たなレイヤー2プロジェクトが狙う仮想通貨1000倍の可能性

    ...

    10 hours ago
  • ビットコインが11万8,000ドルの最高値を記録する中で注目すべき仮想通貨プレセール

    ...

    1 day ago
  • 仮想通貨 おすすめ|急騰するDogwifhatとFartcoin、注目の低価格ミームコインとは?

    仮想通貨...

    1 day ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.