Skip to content Skip to sidebar Skip to footer

MVIS and CryptoCompare Launch the MVIS CryptoCompare Institutional Bitcoin Index

Designed to measure the performance of a Bitcoin portfolio priced on select exchanges

FRANKFURT, Germany–(BUSINESS WIRE)–MV Index Solutions (MVIS) in partnership with CryptoCompare, the global leader in digital asset data, today announced the launch of the MVIS CryptoCompare Institutional Bitcoin Index (ticker: MVIBTC), an index designed to measure the performance of a digital assets portfolio which invests in Bitcoin, priced on select exchanges.

The MVIS CryptoCompare Institutional Bitcoin Index is a robust and transparent benchmark for Bitcoin, which will be used by Canadian investment fund manager, 3iQ Corp., for the purpose of NAV calculation of The Bitcoin Fund.

We are pleased to launch this index with our partner CryptoCompare,” said Thomas Kettner, Managing Director at MVIS. “The index follows our long-term mission in supporting new product developments with the aim of providing investors access to bitcoin.”

Our mission is to bring greater transparency to the digital asset class by providing high quality, trusted data and indices. Together with our partner MVIS, we are excited to offer investors a reliable tool to better measure the performance of their Bitcoin exposure,” said Charles Hayter, CEO and Co-Founder of CryptoCompare.

Key Index Features

Full Market Capitalisation (bn USD): 127. 61

Number of Components: 1

Base Date: 12/31/2013

Base Value: 100

Note to Editors:

About MV Index Solutions

MV Index Solutions (MVIS®) develops, monitors and licenses the MVIS Indices, a selection of focused, investable and diversified benchmark indices. The indices are especially designed to underlie financial products. MVIS Indices cover several asset classes, including equity, fixed income markets and digital assets and are licensed to serve as underlying indices for financial products.

Approximately USD 14.48 billion in assets under management are currently invested in financial products based on MVIS Indices. MVIS is a VanEck company.

About CryptoCompare

CryptoCompare is the global leader in digital asset data. Institutional and retail investors rely on the company for real-time, high quality data spanning 3,200+ coins and 150,000+ currency pairs. By aggregating and analysing tick data from globally recognised exchanges and seamlessly integrating multiple datasets, CryptoCompare provides a comprehensive, granular overview of the market across trade, order book, historical, social and blockchain data. For more information, please visit https://data.cryptocompare.com.

3iQ Corp.

3iQ is a Canadian investment fund manager focused on providing innovative investment products. 3iQ currently manages two digital asset funds including the 3iQ Bitcoin Trust and the 3iQ Global Cryptoasset Fund, two private investment funds which hold Bitcoin only and Bitcoin, Ether and Litecoin respectively. These funds are eligible for investment by accredited investors in Canada or in reliance on other exemptions from the prospectus requirement. Founded in 2012, 3iQ is currently focused on disruptive technologies and the digital asset and blockchain space. Please visit www.3iQ.ca to learn more.

Contacts

Media Contact MV Index Solutions
Nibha Ritter, MV Index Solutions

+49 (0)69 4056 695 22

[email protected]

Media Contact CryptoCompare
[email protected]

Business Wire , 2019-11-25 16:17:24 ,

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