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Coinbase Margin Trading Now Live for Coinbase Pro Users

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Coinbase Margin Trading Now Live for Coinbase Pro Users

Coinbase has launched margin trading for users of its cryptocurrency trading platform, Coinbase Pro. Both individual and institutional investors in selected regions now have access to Coinbase margin trading. The company plans to expand access to more regions and provide more types of collateral assets.

Also read: Bitcoin, Tesla Stock, Tron: How Warren Buffett Got His First Bitcoin

Coinbase Margin Trading Launches

Digital asset platform Coinbase announced Wednesday that it has launched margin trading on Coinbase Pro, its cryptocurrency trading platform. The San Francisco-based company wrote:

Today we’re excited to announce the availability of margin trading for eligible Coinbase Pro customers … Coinbase Pro customers in 23 U.S. states can access up to 3x leverage on USD-quoted books.

Coinbase Margin Trading Now Live for Coinbase Pro Users
Coinbase margin trading screenshot on Coinbase Pro.

Margin trading (or leverage trading) has been one of its most requested features, Coinbase noted. Margin trading “can amplify the impact of your trades by allowing you to borrow additional funds,” the company described. “If deployed as part of a responsible trading strategy, margin trading doesn’t just increase your position in a specific trade, but can also help diversify your portfolio, allowing you to hedge or arbitrage across multiple positions without depositing additional capital,” Coinbase detailed, elaborating:

Over the next year we plan to expand access to the product to customers located in more regions. We will also be expanding the product to include more types of collateral assets.

The platform claims to have over 30 million users trading over $150 billion. Coinbase previously offered margin trading of up to 3x leverage through its GDAX platform but the service was later suspended. Launched in 2015, GDAX was the company’s professional trading platform for individuals; it became Coinbase Pro in May 2018.

Coinbase Margin Trading Now Live for Coinbase Pro Users
Coinbase Pro screenshot.

Margin Trading on Coinbase Pro — Who Is Eligible

In its Wednesday announcement, Coinbase explained that “For institutional customers to access margin trading, they must be based in one of the 43 states or 9 international countries where we currently offer margin for institutions.” In contrast, the company added:

For individuals to qualify for margin trading, they must live within one of the 23 states where we currently offer the feature, have a valid Coinbase Pro account, and be active on Coinbase Pro, measured by recent trades, balances, and deposit and withdrawal activity.

Users may be subject to additional requirements for margin trading, including having enough collateral assets in their Coinbase Pro accounts.

Coinbase Pro “offers an intuitive interface with real-time orderbooks, charting tools, trade history, and a simple order process so you can trade from day one,” according to its website. It is available to users in a number of countries worldwide. Anyone with a Coinbase account can upgrade to a Coinbase Pro account and start trading. Some countries have access to crypto/fiat trading pairs while others can only access crypto/crypto trading pairs. The Coinbase Pro app is available for both iOS and Android operating systems.

What do you think of Coinbase offering margin trading for its Coinbase Pro users? Would you use it? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.

Images courtesy of Shutterstock and Coinbase Pro.

Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post Coinbase Margin Trading Now Live for Coinbase Pro Users appeared first on Bitcoin News.

$10K Bitcoin Prompts Influencers to Call a Bull Market

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$10K Bitcoin Prompts Influencers to Call a Bull Market

Cryptocurrencies have gained significant value over the last few weeks and it’s causing exuberance among digital currency proponents. Now a number of traders and influencers believe bitcoin and other coins are in bullish territory. Despite the surge to $13K last July and the deep pullback that followed, BTC investors and influencers have no issue believing that crypto is on the threshold of another bull market.

Also read: XRP Still Third Largest Crypto by Market Cap After Founder Dumps 1 Billion Coins

‘Calling the Bull’ Is a Bold Move, But a Number of People Are Doing So After BTC Surpasses $10K

Bitcoin traders, analysts, and thought leaders on social media and forums seem to think that the crypto market is facing another bull run. Statements about a “bull market” and a possible “altcoin season” are littered all over Twitter and news articles about the cryptoconomy’s swift rise. You can find a number of crypto influencers explaining that the bitcoin bull market is overdue for a variety of reasons.

$10K Bitcoin Prompts Influencers to Call a Bull Market
A number of bitcoin and crypto influencers are calling the ‘bull market’ and ‘altcoin season’ as well.

Some people claim the reward halving is pushing BTC’s price up, they say miner capitulation is over, the BTC hashrate has touched an ATH, and most of the non-ideological investors capitulated. Moreover, lots of crypto investors are stressing that “this time is different” even though they know calling a bear or bull market requires judgment and is considered a bold call. But this hasn’t stopped a number of crypto’s influential figures from doing so.

“Early signs of a bull market,” explained @American_hodl on Wednesday. “I am finding myself explaining bitcoin to skeptics and new entrants again. This did not happen during the bear. During the bear, it was just us here.”

However, other people disagree with American_hodl and the others who assume the market has turned bullish. Some individuals have certain price points that need to be obtained until they call the bull. “We aren’t in a bull market until we close above $10.7k,” emphasized @llamamarket. “So I’m patient but it looks more likely I was wrong about $5k at least at this very moment. I’ll keep everyone posted if/when I buy.” The specific price point at which a bull market occurs has been a trend lately and the crypto influencer Luke Martin touched upon the subject on February 6, tweeting:

Fun observation about BTC in a bull-market is the post each day stating: ‘Bitcoin isn’t bullish until we cross $10k’ which quickly turns into ‘Not bullish until we cross $11.6k’ which quickly turns into ‘Not bullish until we cross $14k,’ which turns into ‘Not bullish until…’

Bullish Pomp Tweets ‘Altcoin Season’ Phases, and Never Shorting the Bull

Anthony “Pomp” Pompliano, the well known cofounder of Morgan Creek Digital Assets has been talking about the bull run lately too. On Twitter, Pomp felt the need to give an “important message as we enter the next bitcoin bull market.” Pomp explained: “BTC is very volatile, you can lose all of your money, only invest what is ok to lose, Twitter is not investment advice, don’t buy BTC with credit cards, keep low time preference, [and] do your own research.” When BTC crossed the $10K zone, Pomp let his 309,000 Twitter followers know that he still thinks “bitcoin will hit $100,000 by end of December 2021.” In between all the social media and forum discussions about the bull market, a number of individuals say that “altcoin season or altseason” typically happens before the BTC bull market or comes in phases.

Managing partner at Blocktown Capital, Joseph Todaro, discussed the altseason topic and the next bull market on Wednesday. “This is the first altseason of the next bull market,” Todaro tweeted. “You only get 3 real altseasons: The early alt pump when bitcoin is still less than ATH (weak), the mid alt pump after bitcoin passes ATH ~$20k (strong), [and] the late alt pump as bitcoin marks cycle top (strong). Bitcoin just hit $10,000.” Todaro also quipped and said:

You know we are in a bull market when Peter Schiff refuses to tweet about bitcoin.

Despite knowing about the prior BTC price dump after July’s $13K high, bitcoiners everywhere are still calling the bull after the $10K position was reached. “Bitcoin is currently in an intense bull market and investors are getting excited,” another individual tweeted on Wednesday.

$10K Bitcoin Prompts Influencers to Call a Bull Market

“Never short bitcoin in a bull market,” explained the BTC thought leader Whale Panda on Tuesday. “Never short bitcoin, period,” the popular Twitter account @Arminvanbitcoin replied to Whale Panda’s statement. Crypto Twitter influencer Paul McNeal from thecryptocurator.com tweeted to his 20,000 followers about the bull market situation as well: “Market Cap goes up – Bitcoin dominance goes down — Welcome to the bull market of 2020.”

What do you think about the investors and influencers calling the bull market or calling an altcoin season? Do you think that crypto markets and BTC prices are in a bull market right now? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Price articles and market updates are intended for informational purposes only and should not be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”

Image credits: Shutterstock, Twitter, Fair Use, and Pixabay.

Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post $10K Bitcoin Prompts Influencers to Call a Bull Market appeared first on Bitcoin News.

Altcoin Season Trending – LINK, XTZ, BSTX, HBAR Gain Up to 120% in 24h

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Altcoin Season Trending - LINK, XTZ, BSTX, HBAR Gain Up to 120% in 24h

The last few days have shown bullish price activity across the list of top cryptocurrency markets. There’s been a lot of focus on coins like BTC, ETH, BCH, and EOS, but digital assets like HBAR (120%), STX (52%), XTZ (20%) and LINK (13%) have seen much larger gains this week. The cryptoconomy has surpassed the $300 billion range and a few speculators think an “altcoin season” is upon us.

Also Read: Ethereum vs Tron: Comparing Data, Defi and Stablecoins from Both Chains After Viral Tweet

Cryptoconomy Jumps Over the $300 Billion Threshold With Smaller Coins Making Significant Gains

During the early morning trading sessions on Wednesday, the overall market valuation for all 5,000+ digital currencies the $300 billion mark. BTC surpassed the $10K zone, ETH is hovering around $250 per coin, and BCH is climbing toward $500 a unit. Aside from the market capitalization giants, a number of smaller crypto contenders have been gathering significant gains. For instance, one asset traders have been eying lately is chainlink (LINK), a decentralized oracle project built on the Ethereum blockchain.

Altcoin Season Trending - LINK, XTZ, BSTX, HBAR Gain Up to 120% in 24h
On Wednesday, February 12, 2020, the overall market cap of all 5,000+ digital assets surpassed $300 billion.

Chainlink (LINK)

On February 12, LINK has gained 13.4%, and for the last seven days is up over 47%. Each unit is swapping for $4.19 and there’s $1.4 billion in reported chainlink trade volume today. However, “real volume” statistics from Messari.io shows there’s only $163 million LINK trades on Wednesday. Because chainlink came out recently it has already spiked to an all-time high (ATH) of $4.36 which is only 5% higher than the current spot market price.

Tether (USDT) captures the most LINK trades with 42% of global trade volume which is followed by BTC at 33%. This is followed by USD (15%), ETH (5.4%), KRW (1.7%), and TUSD (0.79%). The Chainlink project recently partnered with the Swipe wallet application and card platform. Gemini Custody also announced that the firm has added support for LINK.

Altcoin Season Close – LINK, XTZ Heat Up With Over 700% in 12 Months
Chainlink (LINK) price on Wednesday, February 12, 2020. LINK has gained 871% against USD during the last year.

Tezos (XTZ)

Tezos (XTZ) is another blockchain network linked to a digital token that has jumped considerably in value over the last week. At press time, XTZ is up more than 20% and it’s up 51% for the week. Reported trade volume shows there’s $173 million of XTZ trades today but “real volume” data shows it’s roughly around $125 million. Despite being up over 50% for the last seven days, XTZ is still down 75% from its $11.20 ATH. On Wednesday, the asset is trading for $3.30 per XTZ and the currency is up over 748% during the last 12 months.

Unlike many other coins losing against BTC, XTZ is up 196% against BTC as well. The most traded pair with tezos today is tether (USDT) which captures 35% of all XTZ trades. This is followed by BTC (35%), USD (23%), EUR (2.6%), and KRW (1%). Tezos hasn’t seen any crazy news updates that would justify the surge XTZ markets have seen, but the cryptocurrency’s staking yield is fairly decent with an annualized yield of 6.9%.

Altcoin Season Close – LINK, XTZ Heat Up With Over 700% in 12 Months
Tezos (XTZ) price on Wednesday, February 12, 2020. XTZ has gained 747% against USD during the last year.

Blockstack (STX)

Lastly, Blockstack’s SEC approved project and coin has been doing well during the last two weeks. Blockstack (STX or BSTX) is up over 44% on February 12 and it’s trading for $0.22 per unit. According to Messari.io, STX has a reported trade volume of around $15.7 million and “real volume” statistics are exactly the same. Only a few currencies are paired against STX which include BTC (67%), USDT (29%), and BNB (2.8%). STX is a fairly new market with no recorded ATH, and no year-over-year price history yet.

Altcoin Season Close – LINK, XTZ Heat Up With Over 700% in 12 Months
Blockstack (STX) price on Wednesday, February 12, 2020. STX is fairly new and there are no annual percentages for this token yet.

Blockstack has been in the news for announcing that node operators would be rewarded in BTC. However, the project has been scrutinized by publications such as The Block for its alleged key milestone of 1 million verified users. This figure has been questioned by journalists and the topic has been discussed widely on social media. Because the project touched the milestone it unlocked investor funds that can be used to further development.

A few other notable forerunners today include hedera hashgraph (HBAR) which has jumped over 120% in the last 24 hours. Sophiatx (SPHTX) is up 171%, vite (VITE) gained 77% and omnitude (ECOM) climbed 43% this Wednesday. A number of traders and analysts are already stating that crypto markets have turned bullish and some believe we are seeing the infamous “altcoin season.” Meanwhile, while these speculators say this time around is different, other analysts point to the bullish markets that took place in June and followed with a bearish downtrend. It’s going to take a lot more movement to convince these skeptics that an altcoin season is here or that the bulls have gained full control over the cryptoconomy.

What do you think about the cryptoconomy’s current action? What do you think about these three cryptocurrencies and the price movements this week? Let us know what you think about this subject in the comments section below.

Disclaimer: Price articles and market updates are intended for informational purposes only and should not be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.” Cryptocurrency prices referenced in this article were recorded on Feb. 12, 2020, at 11 a.m. ET.

Image credits: Shutterstock, Markets.Bitcoin.com, Trading View, Fair Use, Twitter, and Pixabay.

Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post Altcoin Season Trending – LINK, XTZ, BSTX, HBAR Gain Up to 120% in 24h appeared first on Bitcoin News.

$118 Million of Plustoken BTC on the Move Again – New Dump Incoming?

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$118 Million of Plustoken BTC on the Move Again – New Dump Incoming?

Plustoken’s stash of bitcoin is on the move again. The haul of ill-gotten gains, amassed during a long-running Ponzi scheme that accrued 187,000 BTC, has been sporadically liquidated, impacting the market price of bitcoin in the process. At 2:46 a.m. today, a known Plustoken address moved 12,000 BTC worth $118M, suggesting that another market dump could be on the cards.

Also read: $100M of Ethereum Tied to Plustoken Scam Sparks Wild Theories

Plustoken Scammers Move 11,999.96928806 BTC

The bitcoin blockchain’s publicly auditable design is one of its greatest strengths and weaknesses. On the one hand, it mandates precise obfuscation techniques for bitcoiners intent on retaining their privacy. But on the other hand, it enables the community to receive real-time alerts of market-moving events – like scammers shifting large amounts of bitcoin, presumably en route to an exchange to be liquidated.

$118 Million of Plustoken BTC on the Move Again – New Dump Incoming?

At 2:46 a.m. (EST), a few satoshis under 12,000 BTC were sent to this address. A little under an hour later, the coins moved again to this address, where they currently reside. The movement of such a large number of coins is of keen interest to the crypto community, partly because it indicates that at least one of the Plustoken scammers is still at large, and also because it suggests a series of market sells may be incoming which could temporarily dent BTC’s price. By way of reference, the 12,000 BTC the scammers may be preparing to sell is roughly equivalent to the amount of bitcoins mined in a week (12,600).

The Dissolution of a Long Con

Plustoken is believed to have received as much as $3 billion in cryptocurrency, largely from Chinese investors who were duped into believing that the scheme would provide them with payouts in perpetuity. Such was the size of the scam that 1% of bitcoin’s circulating supply was sucked in, propelling prices to over $13K per coin at the height of the Plustoken bubble last year. Researcher Chiachih Wu has been providing real-time updates on the remaining Plustoken coins as they move onchain.

The scam began in February 2018 when the Plustoken whitepaper was published, and by summer of 2019 187,000 BTC had been accrued by the project. In June, six Chinese citizens suspected of being behind the scheme were arrested in Vanuatu and the Plustoken servers were shut down. In August, the Plustoken members still at large attempted to mix large quantities of coins through Wasabi Wallet before sending most of them to Huobi.

While the remaining Plustoken bitcoins, if liquidated, should mark the end of the BTC sell pressure, there is still the other cryptocurrency the team amassed to consider. $175 million of ETH is believed to remain under Plustoken control, presenting another timebomb that could blow a hole in the market if liquidated.

Do you think the Plustoken scammers are about to sell the last of their BTC? Let us know in the comments section below.

Images courtesy of Shutterstock.

Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.

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Bitcoin’s $10k Value Pushed Down by CME Futures Price Gap

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Bitcoin's $10k Value Pushed Down by CME Futures Price Gap

Just recently BTC prices surpassed the $10,000 zone and held above that region for around 24 hours. Some speculators believe the price of BTC dipped below the $10k range on Monday, after the price aligned with the price gap on CME Group’s global market exchange. During the course of 2019, crypto traders have noticed that BTC spot market prices have seen quick surges and drops that leave a gap unfilled on BTC futures charts.

Also read: Bitcoin, Tesla Stock, Tron: How Warren Buffett Got His First Bitcoin

After BTC’s Quick Surge Over $10k, Spot Prices Dip Filling the Gap on CME Bitcoin Futures Charts

BTC jumped over the $10,000 price point on Saturday and touched a 2020 high of $10,180 on Sunday. The value dropped to $9,790 per BTC during the early morning trading sessions on Monday. Traders, analysts, and speculators have been noticing a trend that’s happened a few times since early last year and it may be the reason behind this quick price drop.

Bitcoin's $10k Value Pushed Down by CME Futures Price Gap

February 2020’s $10k drop to the $9,800 range follows the unfilled price gap that took place on the Chicago Mercantile Exchange (CME) Bitcoin Futures chart. The gap appeared when CME’s bitcoin futures closed at $9,850 on Friday and when CME’s global markets opened again at $10,000 the negative action, or unfilled gap, brought prices down $300 in the blink of an eye.

This type of market action is called “filling the gap” or “closing the gap” when people analyze charts and price movements. Spot market and futures market prices can be different as derivatives investors are betting on the future value of an asset, while spot market traders are swapping assets in real-time. Cryptocurrency markets are rare because they operate 24 hours a day and seven days a week. The derivatives markets should grow mature with time and many people think that each market can affect each other by placing different types of wagers on each other.

So a gap forms when the price of an asset like BTC surges faster than usual and it leaves a gap on derivatives market charts while trading hours are closed. Because of this cryptocurrency markets can see a “close the gap” scenario because of the underlying cash markets that are running 24/7. Not only is this done with CME Group’s bitcoin futures but unregulated derivatives markets can be used to close the gap as well. For instance, the Twitter account Whale Trades noticed $2 million worth of BTC bought on Bitmex by a whale and wrote: “Wait for the bounce, then short the corn.”

Bitcoin's $10k Value Pushed Down by CME Futures Price Gap
BTC price on February 10, 2020, at 9 a.m. ET.

Not the First Unfilled Gap Scenario

Monday’s action is not the first ‘close the gap’ scenario with BTC and the asset has seen a few unfilled gaps in 2019 as well. During the rally in June 2019, a few gaps were left behind but there were many gaps filled with price corrections following. At the time, traders didn’t know what to expect as gap closures could be bullish or bearish depending on market sentiment.

This time around, unlike the surge in June, traders and analysts believe the $10k BTC price surge is the “real deal.” Onchain analyst and Adaptive Fund partner Willy Woo tweeted about breaking the psychological $10k zone on Sunday. “This breakout is the real deal — Fundamental investment activity is backing this $10k breakout,” Woo tweeted. Besides Woo, a slew of other traders believe this breakout is quite different than the spike last summer as well.

Price gaps usually get filled but that’s not always the case and there can be a few forgotten gaps over a long period of time. There were plenty of gaps in 2017 when BTC’s price rose exponentially as the value jumped $1,000 in a single day and continued to do this for a couple of days in a row. Looking at the long term cycles of an asset, traders typically visualize forgotten unfilled gaps as strong areas of support or resistance. The gaps still exist, they were just never filled. Long periods of time doesn’t mean they can’t be eventually, as bears and crypto traders who love to short always focus on specific bottom targets.

Right now spot markets and futures contracts on CME Group and other crypto derivatives markets charts indicate that prices are near equal. However, CME’s price quotes show that in March, April, and May predictions are in the $10,100 range.

What do you think about the gap closure yesterday and traders leveraging price gaps between derivatives and spot markets? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Price articles and market updates are intended for informational purposes only and should not be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.” Cryptocurrency prices referenced in this article were recorded at 9 a.m. on February 10, 2020.

Image credits: Shutterstock, Tradingview, Twitter, Markets.Bitcoin.com, Fair Use, and Pixabay.

Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post Bitcoin’s $10k Value Pushed Down by CME Futures Price Gap appeared first on Bitcoin News.