BTC/USD has been trading in a very narrow range with an upward resistance at $529 and support at the lower end near $488 level. The BTC/USD after seeing a sharp selloff has been trading in this narrow trading range on back of low volumes, which is a cause of concern for bulls as the low volumes are indicative of momentum still being in the hands of the bears. Bulls are closely looking at the level of $527, which the 20-day exponential is moving average as only a close above would give traders any belief of a reversal from the current downtrend. The momentum indicator has given a fresh buy signal but the low volumes pose a concern, as traders aren’t fully convinced about the shift in momentum to the buy side.

Actionable Insight:

Long BTC/USD only above $527 with a target at $545 with a stop loss at $497

Short BTC/USD below $488 with a target at $390 with a stop loss at $513

Bitcoin and Gold may be relative in a lot number of ways, but as far as stability and taxation is concerned, some of the Bitcoin enthusiasts still consider gold as a better investment option over Bitcoin. Few doubt the survival of the virtual currency over a longer term, while others believe that the bitcoins are more volatile than gold, given its trend over the last few years. Again, bitcoins USA tax status is better than gold, which is strictly regulated as per Foreign Bank and Financial Accounts (FBAR), but it is true that IRS is reviewing virtual currencies implying regulation could cover Bitcoin too in future.

While Bitcoin may be not as glittering as gold but it surely is an exciting game for poker players around the world. An online gaming company, 'SealsWithClubs' has got creative as it will allow the poker players to place their bets in Bitcoin, which will give than anonymity and at the same time faster payouts within four to twelve hours. According to a gambling information hub,, SealsWithClub establishes the growing popularity in the online gambling world as it saves people from a bunch of problems associated with traditional currency and let Americans place their wagers in Bitcoin, who until now could not place bets on dollar denominated online poker gaming sites as those are banned in the nation.

The increasing popularity of the virtual currencies has touched the Ecuador too, but not to the benefit of the public, rather to act as a tool to indulge in monetary devaluation, a system that had disrupted the country during the 20th century. In 2000, the nation had abolished the system by adopting dollar as its currency, but now the President Rafael Correa has found the electronic currency as a way to get back into conjuring money to fund political agenda.


Related Articles
  1. Investing

    Asset Manager Ethics: Acting With Competence and Diligence

    Managers must make investment decisions based on their personal investment process, which in turn should be based on solid research and due diligence.
  2. Investing

    Asset Manager Ethics: Acting In the Benefit of Clients

    Investment managers should always act to benefit the client. Learn what actions managers should take on a client's behalf.
  3. Investing Basics

    Calculating The Present And Future Value Of Annuities

    Here's everything you need to account for when calculating the present and future value of annuities.
  4. Economics

    The World's Top 10 Economies

    A look at the top ten economies in the world.
  5. Forex Education

    Understanding The Income Statement

    Learn how to use revenue and expenses, among other factors, to break down and analyze a company.
  6. Stock Analysis

    Will J.C. Penney Come Back in 2016? (JCP)

    J.C. Penney is without a doubt turning itself around, but that doesn't guarantee the stock will respond immediately.
  7. Mutual Funds & ETFs

    Should Investors Take a BITE Out of This New ETF?

    ETF BITE offers a full menu of restaurants. Is now the right time to invest?
  8. Retirement

    Going Back to Ecuador to Retire: A How-to Guide

    Spending your retirement years in Ecuador can be an affordable and attractive proposition, provided you know the country's laws.
  9. Personal Finance

    The Ten Commandments of Personal Finance

    Here are the simple financial Ten Commandments that, when faithfully followed, can lead to a secure economic future.
  10. Professionals

    Project Manager: Career Path & Qualifications

    Learn more about what project managers job, the qualifications necessary for the position and the most common careers for these professionals.
  1. Is North Korea a developed country?

    North Korea is one of the poorest and least developed countries in the world. It is far from a developed country. Because ... Read Full Answer >>
  2. Does Netspend accept wire transfers?

    NetSpend accepts some types of wire transfers to add money to the prepaid debit cards it issues to its customers. There are ... Read Full Answer >>
  3. Is Mexico a developed country?

    As of 2015, Mexico is not a developed country. However, it beats the majority of its peers in the developing world on most ... Read Full Answer >>
  4. Is China a developed country?

    Despite having the world's second-largest economy and third-largest military, China is still, as of 2015, not classified ... Read Full Answer >>
  5. Do FHA loans require escrow accounts?

    Federal Housing Administration (FHA) loans require escrow accounts for property taxes, homeowners insurance and mortgage ... Read Full Answer >>
  6. Is Greece a developed country?

    Greece is a developed country by most meaningful metrics. However, its financial struggles have been well documented in the ... Read Full Answer >>

You May Also Like

Trading Center