Market Update
It is August 28th, 2018! BTC dominance is currently at 53.0% (-0.3%). Total market cap is currently at $225.5 billion (+ $7.5 billion). The volume of last 24h $12.4 billion (+ $2.3 billion).
The market is becoming bullish step by step! The question is how long is it going to last!
Major media sites are not sharing FUD in last few days! Some of their posts are neutral but some of them are very bullish!
Some of posts:
New Data From CFTC Shows Bearish Bitcoin Futures Are on the Decline
https://cointelegraph.com/news/new-data-from-cftc-shows-bearish-bitcoin-futures-are-on-the-decline
The title sounds very bullish but when you read the article we can see that the total amount of short is still bigger than amount of longs! In the last week, we saw 4% increase in long positions and 7% decrease in short positions! So, yeah decrease in shorts and increse in longs is bullish but we have 3426 short and 2160 longs so in total, market is still bearish with 1266 more short positions!
JP Morgan CIO: Blockchain Will Replace Existing Technology
https://cointelegraph.com/news/jp-morgan-cio-blockchain-will-replace-existing-technology
" We are currently following many paths. We invented a blockchain with an open code based on Ethereum. Actual blockchain technology has not yet resolved issues with privacy and scalability that we needed. We are connected to Hyperledger and Enterprise Ethereum Alliance. The application of this technology in business is more important to us than the technology itself. We are looking not only for cost reduction, but also for opportunities to develop new products. "
Technical analysis
Close above top bollinger band created upward momentum! After 3 days struggling to close above, it closed yesterday.
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