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Bitcoin [BTC] accumulation phase has officially started, suggests report by Adamant Capital

Priya

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Source: Unsplash

Bitcoin [BTC], the largest cryptocurrency by market cap, has been on a roller coaster ride since December 2017. The cryptocurrency space witnessed the coin hit a valuation of around $20,000 and also saw it fall from that point to the $3000 level, crushing the sentiment of several investors in the space.

Nevertheless, the coin has started to show signs of recovery, with a recent surge crossing the $5000 mark. To add on, a recent report by Adamat Capital stated that investors have started to hodl Bitcoin again.

The report read,



“[…] by analyzing Bitcoin’s blockchain we can estimate the monthly position change among long-term Bitcoin holders. Because of the disposition effect [the tendency of investors to hold on to assets that have lost value], Bitcoin investors held on to more accumulated gains than they could afford to lose in the first three quaters of 2018.”

The report stated that the investors’ “net exposure” to Bitcoin increased with the hopes of a market rebound. However, the coin’s plunge below the $6000 mark changed the entire scenario, leading to panic sell, stated the report.

“[…] Shortly after, in early December, Coinbase decided to resuffle its own coins [5% of total supply, possibly amounting for a full 200,000 BTC in HODLer Net Position Change] for technical reasons, which caused red flags in HODL valuation indicators and probably exacebated a general market sell-off.”

Nevertheless, this year has been rolling out in favor of the cryptocurrency as the report suggested that the “situation visibly improved” since the beginning of 2019. It further stated that the accumulation phase of Bitcoin has officially begun.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Bitcoin

TD Ameritrade invests in crypto-trading platform Eris-X, to offer spot exchanges and future contracts

Biraajmaan Tamuly

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TD Ameritrade invests in Eris-X; crypto trading platform to offer spot exchanges and future contracts
Source: Pixabay

TD Ameritrade, one of the biggest companies in the United States offering an electronic trading platform for trading financial assets, recently announced that it was going to launch cryptocurrency trading on its parent platform.

Now, according to an official announcement, the organization revealed that they had made an investment in ErisX, a company which is planning to offer both cryptocurrency spot contracts and future contracts in a single exchange.

The website stated,

“TD Ameritrade will be working with the team at ErisX as they develop and launch their cryptocurrency trading products. This strategic investment is yet another way to demonstrate our ongoing commitment to innovation—and bring our clients a best-in-class investing and trading experience.”

TD Ameritrade had announced the addition of cryptocurrencies to its portfolio last month after Charlie Lee, the CEO of Litecoin, tweeted about tests conducted on its platform.

Bitcoin Futures contract trading was initiated on the official platform earlier, but was only open to high-volume traders. On TD Ameritrade’s platform, the minimum deposit required for trading BTC future contracts was $25,000, at press time. The potential traders also needed two advisory notes from CFTC and NFA to keep in check the risk associated with virtual assets.



Eris-X, a CFTC-regulated derivatives exchange, will now be open to retail crypto-traders and according to the official statement, the firm has plans to offer both spot exchanges and futures contracts based on the digital currencies.

The official statement mentioned,

“This strategic investment is yet another way to demonstrate our ongoing commitment to innovation—and bring our clients a best-in-class investing and trading experience.”





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