Crypto Trader Daily – 22 April 2015

Price Action

Wednesday seems to be the day of the week that things start moving. The price shot up through $230 to a high of $237. $240 looks likely to be retested. A failure to retake $240 could lead to a swift return to $230 and possibly below.

 

Trade Idea

Sell XBUK15 as the price retests $240, with a target price of $230.

 

In the News

“Not-So-Decentralized” Ripple Freezes $1m in User Funds (Inside Bitcoins)

Rand Paul Chides ‘Naysayers’ Who Want to Regulate Bitcoin (American Banker)

Mt. Gox Customers Can Now File Claims For Their Lost Bitcoins (TechCrunch)

Crypto Trader Daily – 8 April 2015

Price Action

The market awoke from its slumber to a classic dump fest . The price fell over $10 from $255 to a low of $243 on Bitfinex. It looks as if the rout will continue over night as the market pauses before resuming the downward spiral.

 

Trade Idea

XBTJ15 continues to trade at a healthy premium to Bitfinex spot. The $6-$8 premium can be captured by selling XBTJ15 and buying spot.

 

In the News

Rand Paul Is First Presidential Candidate to Accept Donations in Bitcoin (CNN Money)

Australian Central Bank: Bitcoin Regulation Not Worth the Cost (CoinDesk)