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Place/Date: Singapore – November 18th, 2019 at 10:01 am UTC · 3 min read
, Source: BitTok

From November 11th to 13th, the Singapore FinTech Festival in 2019 was held at the EXPO Exhibition Center. BitTok was invited to participate in the exhibition and attracted a lot of investors from the venue. The booth was surrounded by a large number of participants who came to consult and experience.

This is also the second time that BitTok has made a sound on the international stage after the Indonesian and Malta summit this year.

The Singapore FinTech Festival is a grand gathering of elites from the global financial and blockchain industries, including Ravi Menon, President of the Singapore Financial Supervisory Authority, and Christine Moy, Executive Director of the JP Morgan Blockchain Project, and the head of the multinational financial regulators in the Middle East and Australia.

Accenture Global Block leader David Treat, Hong Kong HSBC CEO Andy Maguire and many other industry leaders attended the summit and delivered a wonderful speech.

In this fintech festival, as an emerging international cryptocurrency exchange, one of the core issues that BitTok was most consulted by participants was the security of the platform. In terms of security, many new exchanges are now difficult to retain customers because of the problem of losing coins. In response to this industry pain point, BitTok has been protecting the security of user assets as the core mission of the team from the beginning.

With its excellent technical development strength, the platform adopts a safety structure such as a fully deposit wallet system + multi-signature + DDOS protection to establish a bank-level security protection system. No matter whether it is a hacker or an insider, it has never happened here at BitTok.

In addition to powers such as technology partners, BitTok also has an international professional legal advisor team, financial industry experts and senior operations team, hired professional risk control personnel and security consultant team to enhance their comprehensive strength.

BitTok participated in the Singapore FinTech Festival and its intention to enter the overseas market was obvious. Looking at the problems that are common in the digital asset industry from 2019 to the present, most of the trading platforms are simply competing for the existed market. And BitTok believes that the bigger opportunity should be in the incremental market.

At present, many new exchanges are thinking about vying for users from the old exchanges. However, due to factors such as the interest binding of the exchange and user habits, it is difficult for users to transfer funds to other exchanges for trading.

Instead, individual exchanges that stand out from the crowd will focus on opening up new markets and thinking about better models to explore more new users in the market. BitTok is a typical example of this. Mining incremental users and expanding overseas markets are the core strategic objectives of the platform’s global layout.

BitTok has been widely deployed this year in overseas markets including Southeast Asia and the Europe. In countries with high financial markets such as Swiss, financial stability is more important than financial innovation. The development of financial technology in area such as Southeast Asia is relatively slow, and the use of innovative technologies such as blockchain undoubtedly provides opportunities for overtaking in corners. BitTok will also pursue the trend and accelerate the development of blockchain technology and industrial innovation.

Continue to explore the digital economy model innovation, and strive to create a safe, stable, convenient and efficient digital asset trading platform. By integrating resources at home and abroad, BitTok will further accelerate globalization and eventually spread distributed ideas and technologies all over the world.

Svetlana Soroka , 2019-11-18 10:01:50 ,

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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

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