Crypto Trader Daily – 16 April 2015

Price Action

Levitation from the lows began during the China morning session. The price rose $8 to $228. Consolidation around $226 has begun, and it looks as if a run at $230 will be made possibly in the next few hours. This relief rally could top $240; beware of the squeeze.

 

Trade Idea

Buy XBTJ15 and take advantage of the USD gamma during this rally.

 

In the News

The Next Generation of Currency (Wired)

Buttercoin CEO Reveals ‘Tactical Mistake’ that Lead to Company Closure (CoinDesk)

CoverYou: The First European Insurer to Accept Bitcoin for Premium Payment (CoinTelegraph)

 

Crypto Trader Digest – 14 April 2013

Price Action

The slaughter began early morning in China as the price dropped $10 to $225. Then the price continued downwards and tested $220 and rebound back towards $230. $220 was broken in the afternoon trading session, and continued down to $218. The price is now hovering around $220 and looks likely to head lower. The next stop is $210, but a short squeeze looks likely before then.

 

Trade Idea

Position your portfolio for a violent short squeeze upwards. Use XBTJ15 for this play.

 

In the News

New Bitcoin Foundation Director Bruce Fenton Pledges Fiscal Reform (CoinDesk)

‘Bitcoin Baron’ Hacker Arrested By Police in Arizona (CoinTelegraph)

Crypto Trader Daily – 13 April 2015

Price Action

Volatility took a breather today. The trading range today was $232 to $238 with below average volume throughout the trading day. $230 seems likely to hold, and a relief rally to $245-$250 could happen at a moments notice.

 

Trade Idea

Sell XBTJ15 and buy spot. The contract is trading at a $3 premium over spot which equates to an implied volatility of 143%. Current realised 30 day volatility is 49%.

 

In the News

Case Study: Using Bitcoin Derivatives in Global Trade (BitMEX Blog)

Indian IT Giant Infosys Planning to Incorporate Bitcoin Technology (NewsBTC)

Charities Seek Donations in Bitcoin (WSJ)

Crypto Trader Daily – 10 April 2015

Price Action

Kerrplunk was the sound Bitcoin made as it careened through $240 to $231 on Bitfinex. It looks as if the rout is over, but you can never be sure in Bitcoin. If $230 can hold over this weekend, a possible local bottom will have formed and a push higher can begin anew.

 

Trade Idea

To play a rebound in prices, buy XBTJ15 with a target of $250 on the futures price.

 

In the News

GAW Miners Sued for Breach of Contract (CoinDesk)

PayPal Now Allows Its Merchants to Accept Bitcoin Payments (Coinspeaker)

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)

Crypto Trader Daily – 7 April 2015

Price Action

Volatility crept back into the market today. The price oscillated between $260 and $253. Whether the price goes down or up from here is hard to tell, but with many traders returning from holiday things should heat up later this week.

 

Trade Idea

XBTJ15 is trading at a $7-$8 premium over Bitfinex spot. Sell XBTJ15 and buy spot to capture this premium.

 

In the News

Bitcoin Foundation Financials and Reorganisation Plan Leaked (Bitcoin Magazine)