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    [Daily Discussion] Friday, February 28, 2020 Bitcoin Markets

    February 28, 2020

    [Daily Discussion] Friday, February 28, 2020 Bitcoin Markets

    [Daily Discussion] Friday, February 28, 2020

    Posted: 27 Feb 2020 08:05 PM PST

    Thread topics include, but are not limited to:

    • General discussion related to the day's events
    • Technical analysis, trading ideas & strategies
    • Quick questions that do not warrant a separate post

    Thread guidelines:

    • Be excellent to each other.
    • Do not make posts outside of the daily thread for the topics mentioned above.

    Other ways to interact:

    submitted by /u/AutoModerator
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    [Altcoin Discussion] Friday, February 28, 2020

    Posted: 27 Feb 2020 08:05 PM PST

    Thread topics include, but are not limited to:

    • Discussion related to recent events
    • Technical analysis, trading ideas & strategies
    • General questions about altcoins

    Thread guidelines:

    • Be excellent to each other.
    • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
    • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
    • No discussion about specific ICOs. Established coins only.

    If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

    Other ways to interact:

    submitted by /u/AutoModerator
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    CME Bitcoin Futures Expiring Later Today, Traders Brace for Market Reaction

    Posted: 28 Feb 2020 06:09 AM PST

    The open interest on the CME Bitcoin futures exchange will be expiring in just a few hours. Most are expecting it to be a catalyst for a major market move.

    Bitcoin futures are set to expire shortly, which in turn is expected to cause further volatility. Some are anticipating that shorters will be shaken out, but it's currently unclear how the market will be impacted.

    A Possible Bitcoin Short Squeeze

    The Bitcoin market has been exceptionally bearish in the past week with Bitcoin (BTC) now trading for $8,500 at the time of publishing. Shorts are piling up on Binance, making up 65% of the order book. However, traders are split. Remarkably, Bitfinex is reporting 90% longs on its exchange in sharp contrast to the shorters on Binance. One of these camps will eventually be proven wrong.

    Source

    submitted by /u/DiggingTech
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    Does coronavirus outbreak influence cryptocurrencies?

    Posted: 28 Feb 2020 04:37 AM PST

    It is a well-known fact that global events influence global economics. Right now we witness a terrible pandemic known as coronavirus or COVID-19. So it is only logical to presume that it should shake all aspects of the global economy. Thus the whole world is sitting on the edge of their seats.

    Now it is obvious that tendencies prevailed in the global market are mostly negative. And there is a little chance that the situation would change before Chinese manufacture could be active again. Perhaps coronavirus outbreak in Italy has even more tragic consequences for the country's economy, due to the fact that it has started in the most economically active region.

    Cryptocurrencies, on the other hand, show stable growth for the last two months. We saw bitcoin hit the price of $10k twice since the New Year. Interestingly, crypto seems to react only to inner events, such as bitcoin halving or central banks launching digital money.

    Probably for the first time in crypto history analysts suggest that cryptocurrencies may actually save us from financial panic. Moreover, China turned to blockchain technologies to avoid useless physical contact. So now they use it to manage medical data, to consult people, and also they are willing to give up fiat money for now. Chinese authorities specifically emphasize that they trust blockchain safety, which is good enough to store confidential medical data.

    Undoubtedly, coronavirus influences cryptocurrencies, but not in a way one may have expected. Now it actually looks like blockchain technologies and cryptocurrencies have some benefits we did not see before.

    submitted by /u/SimpleSwapExchange
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