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Price Commentary – Bitcoin – 21st February 2019

Commentary by Jackson Zeng, COO Caleb & Brown

 

Bitcoin: USD $3,922 (as of 21 Feb 2019)

We saw another spike this week of 11% from $3550 all the way up to $3970.

Bitcoin has managed to break out of both the 50 day SMA and EMA (green, purple), as well as the descending trend line (orange).

The price is currently sitting just below the $4000 mark, 6% above the EMA.

We’re also noticing 6 consecutive green candles, which is the longest sustained short term rally since July 2018. It is rare to see 7 or 8 consecutive green candles so a possible scenario may be a red close on 21st or 22nd before retesting the $4000 mark and seeing if we can break up higher. This lines up with the RSI of 70 indicating brief entry into the overbought territory.

We’re looking forward to the next few weeks to see if sustained volume can help identify a reversal in mid and long term trends.

 

Whether you are new to the market, or a seasoned trader, Caleb & Brown can help to realise your goals. Call us on +61 1800 849 149  or Contact Us to discuss further.

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The information herein is not intended as legal, financial or investment advice and should not be construed or relied on as such. No material contained herein should be construed or relied upon as providing recommendations in relation to any legal or financial product. This email contains confidential information intended only for the person named above and may be subject to legal privilege. If you are not the intended recipient, any disclosure, copying or use of this information is prohibited and you must destroy the original transmission and its contents. Caleb and Brown provides no guarantee that this communication is free of virus or that it has not been intercepted or interfered with. If you have received this email in error or have any other concerns regarding its transmission, please notify support@calebandbrown.com. Any views expressed within this communication are those of the individual sender. This communication should not be copied or disseminated without permission.s The information you provide will not be given to any third parties. If you need to request changes to any information you have provided, please contact us. The information will not be given to third parties unless we are compelled by law. Any personal information in this document must be handled in accordance with the Privacy Act 1988 (Cth).
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Price Commentary – Bitcoin – 14th February 2019

Commentary by Jackson Zeng, COO Caleb & Brown

 

Among the biggest movers this week were Bitcoin (BTC) and Litecoin (LTC), showing more positive signs than other weeks previous.

Bitcoin: USD $3,574 (14 Feb 2019 1:41pm)

This week we saw a 9% spike recovering the price from approximately $3350 up to $3700.

However, once again we’re approaching the 50 Day simple moving average (SMA) and exponential moving average (EMA) resistance.

In the past year, of the 12 instances the Bitcoin price approached the higher of the 50 Day SMA and EMA, we’ve seen a 75% rejection rate as the first significant candle following the convergence of price and SMA/EMA (see image below).

On the other indicators, we’re seeing a neutral reading of 50 on the Relative Strength Index. But while we’re seeing lower highs, we’re still in the bear trend and the chance of a lower low (under $3200) is very much present.

These are particularly positive signs for the strength at which cryptocurrency markets may rebound in the future.

 

 

Whether you are new to the market, or a seasoned trader, Caleb & Brown can help to realise your goals. Call us on +61 1800 849 149  or Contact Us to discuss further.

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The information herein is not intended as legal, financial or investment advice and should not be construed or relied on as such. No material contained herein should be construed or relied upon as providing recommendations in relation to any legal or financial product. This email contains confidential information intended only for the person named above and may be subject to legal privilege. If you are not the intended recipient, any disclosure, copying or use of this information is prohibited and you must destroy the original transmission and its contents. Caleb and Brown provides no guarantee that this communication is free of virus or that it has not been intercepted or interfered with. If you have received this email in error or have any other concerns regarding its transmission, please notify support@calebandbrown.com. Any views expressed within this communication are those of the individual sender. This communication should not be copied or disseminated without permission.s The information you provide will not be given to any third parties. If you need to request changes to any information you have provided, please contact us. The information will not be given to third parties unless we are compelled by law. Any personal information in this document must be handled in accordance with the Privacy Act 1988 (Cth).
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Cryptocurrency Tax, Hacks and Wallets | Nugget’s News

In the cryptocurrency world, security is one of the most important considerations when buying or storing digital assets like Bitcoin. As of late, there have been a number of attacks on online exchanges and other vulnerabilities have also been exposed. Earlier this week, Binance, one of the most popular of such exchanges experienced a KYC data breach. Despite repeated denials from Binance, the stolen details of around 100,000 clients were found for sale on the dark web.

At Caleb and Brown, we recommend using a cold storage wallet to protect your Bitcoin and other cryptocurrency assets. Going forward, experts within the industry see custodial services as the “next major battleground”.

For those that have been negatively affected by hacks to online exchanges, we suggest seeking advice from a certified accountant. Alternatively, contact Caleb and Brown immediately for a professional tax assessment from our in-house cryptocurrency tax expert – you may be eligible for certain tax rebates.

 

As featured on Nugget’s News
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CBOE Pulls VanEck Bitcoin Exchange Traded Fund (ETF) Filing

Yesterday the SEC announced that CBOE had pulled its filing for an Exchange Traded Fund (ETF) to list shares of the VanEck Solid X Bitcoin Trust. While the announcement initially raised concerns from the Crypto community, an interview with CNBC later that day, the CEO of VanEck clarified that the withdrawal was a temporary measure. The Trump administration’s government shutdown has significantly affected the SEC’s manpower and resources. Therefore, the lack of resources could, justifiably, lead to a poor decision.

Ever since the Winkelvoss twins filed an ETF application that was rejected by the SEC in early 2017, numerous contenders have sought approval for the first Bitcoin futures index. The Crypto community has watched these applications with keen interest, as a means to establishing both credibility and mainstream adoption.

Why is a Bitcoin ETF Important?

There is an estimated USD $70 trillion held by institutional investors globally. Without a trusted, regulated platform to facilitate investment, these funds remain largely inaccessible to the Bitcoin and wider Crypto market. The start of 2019 which has been pockmarked by the hack of the Cryptopia Exchange and news of KYC data leaked from major Crypto exchanges which has only reinforced the need for more mature infrastructure.

It is worth considering that for all its influence, the SEC is only one regulatory body in one market. As other countries start advancing their own regulation, focus may shift away from the SEC to guide the regulatory landscape. The listing of the Amun Crypto Basket ETP on the SIX Swiss Exchange last year has seen the highest traded volumes of any exchange-traded product, and is perhaps the first validation of this.

2019 will likely see further volatility within the regulatory landscape for Cryptocurrencies. In addition, the ETF story is likely to remain one of the main protagonists. Industry analysts suggest that it may yet be too early for the SEC to push an ETF application through. How an ETF plays out globally will be a telling sign of sentiment from both the financial and regulatory powers.

Dr Prash – CEO Caleb & Brown

Image source: Fortune
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What is a Bitcoin ETF?

There is a huge emphasis on Bitcoin ETFs in the investment community.

Jackson Zeng, COO, Caleb and Brown breaks down the jargons to give his take on this hot topic.

  1. What is a Bitcoin ETF?
  2. Why does it matter?
  3. How does this affect the market?

1. What is a Bitcoin ETF?
A Bitcoin Exchange Traded Fund (ETF) allows Bitcoin to be traded on the stock market. A trust would hold the asset on behalf of the fund while investors can trade its shares on the exchange.

2. Why does it matter?
Trading of Bitcoin currently involves digital asset custody. Investors and Institutions are concerned about handling that risk themselves. A Bitcoin ETF provides a new option for traders to get exposure to Bitcoin without having to worry about securing the digital asset themselves.

3. How does this affect the market?
Reducing the barriers to entry enables a new category of investors to join the market, which may spell greater liquidity and positive price movement as that money enters the space. It will also be a step forward in regulatory clarity on Bitcoin

Experts views from other sources:

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Jackson Zeng is the COO at Caleb and Brown is available to guide new and seasoned investors.

About Jackson Zeng:
Jackson has five years of trading experience in the cryptocurrency space and founded Bit By Bit Capital, one of Australia’s first private trusts investing in cryptocurrency.

Call Jackson on +61 1800 849 149  or Contact Us to discuss further.

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Know Your Tokens!

This article was first published by ICOscoring on Medium

Securities Exchange Commission (SEC) – USA and Financial Market Supervisory Authority (FINMA) – Switzerland broadly categorizes tokens as per below:

Security tokens — this type is to some extent similar to securities.
Utility tokens — this type gives its holders the access to services provided by the project.
Payment tokens — this type has its own Blockchain and is often considered as a mean of payment.

Know-your-tokens

Key features of each token

Security token (SEC) / Asset token (FINMA): This category of tokens represents assets such as participation in real physical underlyings, companies, or earnings streams, or an entitlement to dividends or interest payments. In terms of their economic function, the tokens are analogous to equities, bonds or derivatives.

Utility token (SEC) / Utility token (FINMA): This category provides access to the goods & services that the project will launch in the future. Also, they can be used as a type of discount or premium access to the goods & services of the project.

Cryptocurrencies (SEC)/Payment tokens (FINMA): Usually, the tokens of this category have no further functions or links to other development projects. Speaking broadly, cryptocurrencies purpose is to be items of inherent value (similar, for instance, to cash or gold) that are designed to enable purchases, sales, and other financial transactions, They are intended to provide many of the same functions as long-established currencies such as the U.S. dollar, euro or Japanese yen but do not have the backing of a government or other body.

Depending on the type of token, organizers and participants of an ICO might have different rights and responsibilities. It is worth noticing that the safest type of token for investors is ‘security token‘. However, this type of token makes ICO more complicated and requires KYC/AML procedures. For instance, FINMA considers these tokens as a type of security and applies the same rules to them as for other securities (stocks, bonds, etc).

Important points to note for investors:

  • It is necessary to analyze the type of token and the economy behind it when making investment decisions.
  • It is a must to always remember that the price of the token is based on the basic principles of economics, such as the law of demand and fair value.
  • It is always advisable to understand the base value of token and its current and potential price in case all the targets are reached.

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Jeff Zylstra, is the senior crypto broker at Caleb and Brown to guide new and seasoned investors.

Call Jeff on +61 413 342 200 or Contact Us to discuss further.

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How to Profit from a Bear Market?

At Caleb and Brown, we pride ourselves on keeping our clients updated about the market trends, including how to take advantage of the bear market like a pro!

Our Senior Crypto Broker, Jeff Zylstra has compiled a comprehensive market analysis report with a personal example. Jeff has over 5 years of experience as a broker and been trading cryptocurrency since 2014.

December 2017/January 2018 periods were, right at the ‘Point of Maximum Financial Risk

At the moment from my analysis, it appears we are around capitulation and despondency area, very close to the ‘Point of Maximum Financial Opportunity‘.

Positioning is the most important thing in this market, giving yourself the best possible chance to maximize the effectiveness of your capital by leveraging the market cycle is extremely important for a long-term investment strategy.

It is a Rinse and Repeat scenario, example;

  • When people are greedy, you are being fearful and selling into the euphoria.
  • When people are being fearful and selling out of panic, desperation and depression.

These are the optimal times to be a buyer!

Here is a look at a Bitcoin daily price chart from this year’s market cycle so far. How many similarities do you see comparing the market cycles?

BitcoinBitcoin-Price-Cycle

If you happened to have bought during peak thrill and euphoria I would stop worrying all the time, stop watching the price every day because guess what?

You are an investor, not a TRADER. Traders care about the day-to-day, week-to-week price fluctuations.

The nature of this very market is volatile, +5% -10% is just part of the everyday background noise.

Investors are playing the long game, and HOLDING has been proven by many traders to be a solid strategy.

You just got to have the strength to keep your emotions out of the game.

When I first bought Ethereum at $26 I felt the same feelings of anxiety and panic you felt when I saw the price move all the way down to $6.

I was questioning my investment, my strategy and the market. I felt really depressed at this stage.

I was very lucky that I drowned out the negative thoughts and emotions and held strong.
This market is an amazing tool for transferring wealth from the IMPATIENT to the PATIENT.

BE PATIENT!

Moral of the story is, Ethereum hit an all-time high of $1389.00 USD ($1891.26 AUD). I hit an average of 100x my original investment in this trade, looking back I don’t know what I was worried about.

There will be no reward without risk, no glory without suffering.

If you are looking for a position, a friendly chat or further information on market cycles reach out to me.

Jeff Zylstra is available as your broker to guide you through this jungle.

Call Jeff on +61 413 342 200 or Contact Us to discuss further.

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Caleb & Brown Wins SAFAA FinTech Startup of The Year 2018

MEDIA RELEASE

Why being named Fintech start-up of the year is helping to bridge two worlds.

Last week, investment brokerage ‘Caleb & Brown’ were awarded ‘Fintech Start-up of 2018’ at the inaugural Stockbrokers and Financial Advisors Association (SAFAA) Fintech Awards in Melbourne.

This year, the SAFAA have recognised the need to represent the new technology era by including areas such as- artificial intelligence, big data, cloud, blockchain, regtech, and Crypto, with this awardplaying an important role in establishing cryptocurrency as an innovative area of the greater financial market.

Stockbrokers And Financial Advisers Association (SAFAA) FinTech Start Up of the Year 2018
Stockbrokers And Financial Advisers Association (SAFAA) FinTech Start Up of the Year 2018

Dr. Prash P, Founder of Caleb & Brown says that “This is a milestone not just for us as a company, of course it is great to be recognised by the FinTech industry, but this is a major win for the cryptocurrency industry as a whole’. The ‘old-school’ financial services industry have embraced crypto enough to say, ‘not only is this a real thing, but we will award them for their help bringing us closer to innovative technology”. By solving key problems for investors in the emerging cryptocurrency market, Caleb & Brown have demonstrated that they are helping to bridge the gap that exists between the finance industry and the new, emerging fields of FinTech.

The three-day conference which saw over 500 local and international stockbrokers and advisors descend on Melbourne for the purpose of community enlightenment and networking also had its focus on embracing technology. Andrew Green, the CEO of SAFAA stated “Technology is at the heart of change and ‘disruption’ and ‘disintermediation’ is where the (fintech) industry is being challenged to remain relevant – we need to be embracing technology, not ignoring it”.

Whilst this type of financial technology is not fully embraced and is still viewed as being ‘on the other side of the fence’, according to Dr. Prash P, awards like this are helping to “brings us out of the shadows”.

Stockbrokers And Financial Advisers Association (SAFAA) FinTech Start Up of the Year 2018

Crypto is at the pointy end of the innovation spectrum, and for some it has not been so readily embraced, however the momentum is undeniable and as Dr. Prash P says, “we can’t keep ignoring it”.

About Stockbrokers And Financial Advisers Association (SAFAA):

The Stockbrokers And Financial Advisers Association (SAFAA) advocates for ethical, efficient and stable, listed capital and debt markets in Australia.

  • SAFAA has both Principal and Practitioner Members.
  • Principal Members comprise leading stockbroking and financial advisory firms and investment banks.
  • Practitioner Members comprise experienced stockbrokers and financial advisers.
  • In addition to its Advocacy role, SAFAA provides specialist education and training for its Practitioner Members.

The Association was formed in 1999 as the Securities & Derivatives Industry Association (SDIA), then became the Stockbrokers Association of Australia (SAA), and in November 2016 became the Stockbrokers And Financial Advisers Association (SAFAA).

Since 1999, SAFAA and its predecessors have played a pivotal role in shaping the ethical and efficient development of listed equity, debt and derivatives markets in Australia.

Specifically, the Association has:

  1. Trained more than 10,000 investment professionals
  2. Convened hundreds of Workshops and Committee Meetings to discuss industry issues
  3. Submitted dozens of thoroughly researched policy papers to government and regulators – papers that have significantly Influenced policy settings

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