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Webinar: Bitcoin Analysis, Price and Chart Set-Ups

Webinar: Bitcoin Analysis, Price and Chart Set-Ups

2017-08-02 13:08:00
Nick Cawley, Strategist
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In this webinar we look back at what has been a tumultuous few days for Bitcoin (BTC) traders as a split in the underlying blockchain neared. The new digital token, Bitcoin Cash (BCC) debuted on Wednesday and immediately soared in limited trading. With the original Bitcoin holders given one new BCC for every one BTC held, investors will have to decide whether to cash in and take a healthy free profit or run with the new currency.

Other topics covered include –

  • The underlying blockchain technology continues to grow and cement itself in the digital eco-system.
  • Traders should be wary and disciplined when trading the cryptocurrency space as double-digit price swings are a regular occurrence. Practice trading may help investors hone their skills, especially when volatility is so low in other financial markets.
  • Are the new digital tokens, including ICOs, similar to the dot-com boom and bust seen in the late 1990s – early 200s.
  • Are we looking at a new Global Crossing or a nascent eBay or Amazon? The number of new company tokens hitting the market may provide big losers as well as big winners.
  • The new bitcoin BCC jumps to over $500 a token, will traders sell when they get their allocation, or will BCC take over as the dominant token in the coming weeks?

And looking ahead, how will other digital currencies react to the new Bitcoin - will Ethereum (ETH) and Litecoin (LTC) be re-valued higher by the market or will they see their market cap fall?

If you missed this webinar and would like to know about future events, see the full DailyFX webinar schedule here.

--- Written by Nick Cawley, Analyst

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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