Skip to content Skip to sidebar Skip to footer

BitOrb Exchange Raises $6.4 Million

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

The BitOrb Exchange has successfully secured its funding round, raising a total of USD 6.4m. The round was led by the W-Rex Algo Trading Platform a product of the Wota Group.

Additionally, the Wota Group will act as a strategic partner and help the BitOrb Exchange grow its network of traders, user acquisition and advise on other key strategic decisions.

THE STRATEGIC SYNERGY BETWEEN THE COMPANIES

BitOrb is an innovative cryptocurrency derivatives exchange that is built for all levels of traders. The exchange is built completely in memory allowing for micro-second latency for higher frequency trading.

The exchange also introduces a never seen before feature “The Orchestrator”, which is an inbuilt automated trading strategy maker allowing traders to create customized trading strategies using key trading indicators.

The Wota Group is a cryptocurrency fund that has been involved in programmatic trading of crypto currencies since 2017. W-Rex is the latest product of the Wota Group, which is a programmatic trading platform with impressive growth since January 2018. WREX 3-Layered Algorithm System “has never recorded a loss in a typical month from January 2018 when we completed our beta testing,” said Jeffrey Ong, the CEO and founder of the Wota Group and the W-rex Platform.

He added “BitOrb is an exciting project for us because of the synergies involved between our company and a cryptocurrency derivatives trading platform. BitOrb introduces an exchange which is fresh and I believe that they have the potential to be a top player in the crypto exchange space and they have the right team to achieve this. Hence we see this as a strategic partnership which will be extremely beneficial to both parties”

The BitOrb Exchange has been under development since July 2018 and the current test version of the exchange can be viewed beta.BitOrb.com. The BitOrb Exchange is due for release in December 2019.

The funds raised during this round will be used for user acquisition, enhancements to the product, ramping up of the operations, marketing and compliance with statutory requirements. BitOrb aims to be a fair and transparent exchange and will allocate a portion of the funds to ensure compliance with regulatory bodies in all of its jurisdictions where applicable.

Lim-Hoong Teng, the CEO of the BitOrb Exchange also added “When we began raising funds in late 2018, we knew it was going to be a very challenging environment to raise funds. However, although the cryptocurrency market was completely bearish, the team continued to develop the exchange. It took us many months to get the funding we needed and by having an investor onboard like the Wota Group, the future is brighter and the potential greater.”

He continued to say “Our traders and token holders are of the utmost importance to us at BitOrb. We are pleased to announce that this recent partnership with the Wota Group will propel us into the future.”

The current fundraising round will end in November, and those who missed out can still grab this opportunity www.BitOrb.com

Contact Email Address
[email protected]

Supporting Link
https://www.bitorb.com

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Tags in this story
Bearish, Bitcoin, BitOrb Exchange, crypto, crypto to crytpo, cryptocurrency market, fundraising, Funds, IEO, Jeffrey Ong, Layered Algorithm System, Lim-Hoong Teng, Raise, trading, W-rex, Wota Group
Bitcoin.com PR

Bitcoin.com is your premier source for everything Bitcoin-related. We can help you buy bitcoins and choose a bitcoin wallet. You can also read the latest news, or engage with the community on our Bitcoin Forum. Please keep in mind that this is a commercial website that lists wallets, exchanges and other Bitcoin-related companies.

Bitcoin.com PR , 2019-11-14 10:30:12 ,

Source link

Leave a comment

NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

Source link