Circle’s Coinbase-Like Cryptocurrency Investing App Enters Closed Beta

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Fintech startup Circle’s Coinbase-like cryptocurrency investing app “Circle Invest” has entered a closed beta.

It’s not clear exactly when the Circle Invest beta opened, but users began reporting that they had received invitations on March 6. I received my invitation the next day, at which time Google Play indicated that roughly 100 users had downloaded the Android version of the app.

Circle Invest provides retail investors with access to Circle Trade, the company’s institutional trading desk. The platform does not charge commission, instead skimming its revenue from the spread between the buy and sell price, which Circle says will average one percent depending on market conditions.

The app has a simple interface that features overall portfolio tracking as well as modules for each individual cryptocurrency.

Source: Circle Invest

At present, the app supports Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Ethereum Classic (ETC). Notably absent is Ripple’s XRP token, which is featured in images advertising Circle Invest but is not currently available in the app’s beta version.

Circle advertises that users will have instant access to their funds (up to $10,000 per week), and they can invest with as little as $1. However, users who abuse the system by making purchases with insufficient funds in their linked bank accounts will lose the ability to make instant buys.

Users are unable to make cryptocurrency deposits during this phase of the beta, but the company says deposits will be added in the future. The app is also currently only available to US customers, though several states are excluded due to their money transmitter regulations.

Unfortunately, I was unable to test the app’s core functionality, as a bug caused the app to crash when I attempted to register an account. This may be because my mobile device is several generations old, but in any case, I expect it to be addressed in a later update.

Circle has not yet revealed a specific target date for the app’s production release, but it has said in the past it expects Circle Invest to go live in 2018. When it does, it will join a growing list of competitors to Coinbase, the dominant force in the US cryptocurrency brokerage market.

As CCN reported, fintech darlings Square and Robinhood have recently begun adding support for cryptocurrency trading. Square Cash’s US customers can buy and sell Bitcoin through its mobile app, while Robinhood has rolled out Bitcoin and Ethereum trading to users in five states.

However, of the three, Circle Invest is the app which most closely mirrors Coinbase eponymous brokerage app, and — owing to its former life as a Bitcoin exchange,  its profitable trading desk, and its recent acquisition of cryptocurrency exchange Poloniex — it is also the firm with the deepest roots in the cryptocurrency ecosystem.

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Trade Recommendation: Ardor

The Ardor/Bitcoin (ARDR/BTC) pair launched its bull run on December 12, 2017 when it breached resistance of 0.00005. The momentum of the breakout was so strong that it went as high as 0.000152 on January 3, 2018. In less than three weeks, the market grew by over 200%. Breakout players exploited the growth as they took profits.

With sellers dominating the market, it dropped to 0.00007999 on January 5. Bottom pickers entered the buying picture as they sensed that a higher low was established. The increased demand brought the price up to 0.00012813 on January 14. At this point, bulls were exhausted. Bears capitalized on the opportunity and sent the market on a freefall.

Technical analysis show that Ardor/Bitcoin has taken out support of 0.00005. Below this level, the next firm support is 0.000027. This is the price point where the market consolidated before it ignited the bull run on December 12. There’s a very good chance that it will once again create a base at 0.000027 in preparation for another bull run.

The strategy is to buy as close to 0.000027 support as possible. If bulls get to create a new base at this level, the pair will likely consolidate for some time before it can restart a bull run. As it consolidates, it will range trade between 0.000027 and to our target of 0.00005. The process may take a month.

Daily Chart of Ardor/Bitcoin on Poloniex

As of this writing, the Ardor/Bitcoin pair is trading at 0.00003414 on Poloniex.

Summary of Strategy

Buy: As close to 0.000027 as possible.

Target: 0.00005

Stop:  0.000025

Disclaimer: The writer owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

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Crypto Update: Market Stabilizes but Majors Still Pushed Lower

Wednesday Market Recap

Asset	Current Value	Daily Change
S&P 500	2724	0.10%
DAX	12,245	1.09%
WTI Crude Oil	61.30	-1.44%
GOLD	1326.00	-0.21%
Bitcoin	9,740	-9.63%
EUR/USD	1.2402	0.01%

Following yesterday’s after-hour shocker, and the subsequent drift higher, US markets behaved as we expected, trading in a hectic fashion with no clear direction. Despite the lack of real momentum, bulls could claim another small victory, as the major Wall Street indices ended the session near their intraday highs, although the S&P 500 and the Dow are still well off the bounce highs set early last week.

Nasdaq Futures, 4-Hour Chart Analysis

The Nasdaq continued to pull its weight, and with European stocks and US small caps also showing relative strength once again today, we still expect choppy trading to continue until Friday’s Jobs Report, even as technicals still favor a re-test of the February lows.

Russell 2000 (Small Cap Index, 4-Hour Chart Analysis

Today’s recovery was boosted by the late-day news regarding a possible exemption to Mexico and Canada from the recently announced trade tariffs, even as tax and tariff ideas continued to pop up globally amid the intensifying trade war chatter.

Canadian Dollar Dominates Forex Markets

USD/CAD, 5-Min Chart

The Canadian Dollar had a very active session following the Bank of Canada’s rate decision and statement, as we expected, and the tariff-exemption rumors gave another twist to the Loonie’s already hectic day before the bell.

First, the currency sold off, as the central bank’s officials voiced their concerns regarding trade, while leaving the benchmark rate unchanged at 1.5%, in line with the consensus estimate. The USD/CAD pair almost hit 1.30 amid the CAD dip, but the favorable news about the tariffs pushed the pair to its intraday low below 1.29, as stocks rallied towards the end of the session.

EUR/USD, 4-Hour Chart Analysis

The US Dollar was stable in the second half of the session against its most important peers, with the EUR/USD pair hovering around the 1.24 level, while the USD/JPY pair settling down near 106. With Treasury yields remaining near their recent highs, the Greenback might be ready to bounce back against the Euro, as the re-test of the previous rising trendline is now completed, and the MACD indicator is close to giving a sell signal.

Commodities had a dominantly bearish session despite the stable Dollar, as gold drifted lower throughout the day thanks to the improving global sentiment, while oil sold off after an encouraging start following the release of the mixed US crude inventories report, and industrial metals also finished lower.

Cryptocurrencies

BTC/USD, 4-Hour Chart Analysis

The segment took a heavy beating today, especially in the second half of the day, as the majors shed 10% on average thanks to the Binance hack rumors, and another report regarding the SEC’s crackdown on the cryptos. The plunge came on the heels of a two-day sell-off that had been relatively mild in the case of most of the coins, but now, as volatility and correlations jumped, things might get heated up, with several coins approaching crucial support zones.

BTC has been trading around $10,000 following the initial move $9450, and now it is back below the key level after-hours, with all eyes still on the line-in-the-sand support zone between $9000 and $9200 that could be tested in the coming days, as the short-term picture remains bearish, while the recovery is still likely to resume after the correction.

Featured image from Shutterstock

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Crypto Update: Market Stabilizes but Majors Still Pushed Lower

Wednesday Market Recap

Asset	Current Value	Daily Change
S&P 500	2724	0.10%
DAX	12,245	1.09%
WTI Crude Oil	61.30	-1.44%
GOLD	1326.00	-0.21%
Bitcoin	9,740	-9.63%
EUR/USD	1.2402	0.01%

Following yesterday’s after-hour shocker, and the subsequent drift higher, US markets behaved as we expected, trading in a hectic fashion with no clear direction. Despite the lack of real momentum, bulls could claim another small victory, as the major Wall Street indices ended the session near their intraday highs, although the S&P 500 and the Dow are still well off the bounce highs set early last week.

Nasdaq Futures, 4-Hour Chart Analysis

The Nasdaq continued to pull its weight, and with European stocks and US small caps also showing relative strength once again today, we still expect choppy trading to continue until Friday’s Jobs Report, even as technicals still favor a re-test of the February lows.

Russell 2000 (Small Cap Index, 4-Hour Chart Analysis

Today’s recovery was boosted by the late-day news regarding a possible exemption to Mexico and Canada from the recently announced trade tariffs, even as tax and tariff ideas continued to pop up globally amid the intensifying trade war chatter.

Canadian Dollar Dominates Forex Markets

USD/CAD, 5-Min Chart

The Canadian Dollar had a very active session following the Bank of Canada’s rate decision and statement, as we expected, and the tariff-exemption rumors gave another twist to the Loonie’s already hectic day before the bell.

First, the currency sold off, as the central bank’s officials voiced their concerns regarding trade, while leaving the benchmark rate unchanged at 1.5%, in line with the consensus estimate. The USD/CAD pair almost hit 1.30 amid the CAD dip, but the favorable news about the tariffs pushed the pair to its intraday low below 1.29, as stocks rallied towards the end of the session.

EUR/USD, 4-Hour Chart Analysis

The US Dollar was stable in the second half of the session against its most important peers, with the EUR/USD pair hovering around the 1.24 level, while the USD/JPY pair settling down near 106. With Treasury yields remaining near their recent highs, the Greenback might be ready to bounce back against the Euro, as the re-test of the previous rising trendline is now completed, and the MACD indicator is close to giving a sell signal.

Commodities had a dominantly bearish session despite the stable Dollar, as gold drifted lower throughout the day thanks to the improving global sentiment, while oil sold off after an encouraging start following the release of the mixed US crude inventories report, and industrial metals also finished lower.

Cryptocurrencies

BTC/USD, 4-Hour Chart Analysis

The segment took a heavy beating today, especially in the second half of the day, as the majors shed 10% on average thanks to the Binance hack rumors, and another report regarding the SEC’s crackdown on the cryptos. The plunge came on the heels of a two-day sell-off that had been relatively mild in the case of most of the coins, but now, as volatility and correlations jumped, things might get heated up, with several coins approaching crucial support zones.

BTC has been trading around $10,000 following the initial move $9450, and now it is back below the key level after-hours, with all eyes still on the line-in-the-sand support zone between $9000 and $9200 that could be tested in the coming days, as the short-term picture remains bearish, while the recovery is still likely to resume after the correction.

Featured image from Shutterstock

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Crypto Update: Market Stabilizes but Majors Still Pushed Lower

Wednesday Market Recap

Asset	Current Value	Daily Change
S&P 500	2724	0.10%
DAX	12,245	1.09%
WTI Crude Oil	61.30	-1.44%
GOLD	1326.00	-0.21%
Bitcoin	9,740	-9.63%
EUR/USD	1.2402	0.01%

Following yesterday’s after-hour shocker, and the subsequent drift higher, US markets behaved as we expected, trading in a hectic fashion with no clear direction. Despite the lack of real momentum, bulls could claim another small victory, as the major Wall Street indices ended the session near their intraday highs, although the S&P 500 and the Dow are still well off the bounce highs set early last week.

Nasdaq Futures, 4-Hour Chart Analysis

The Nasdaq continued to pull its weight, and with European stocks and US small caps also showing relative strength once again today, we still expect choppy trading to continue until Friday’s Jobs Report, even as technicals still favor a re-test of the February lows.

Russell 2000 (Small Cap Index, 4-Hour Chart Analysis

Today’s recovery was boosted by the late-day news regarding a possible exemption to Mexico and Canada from the recently announced trade tariffs, even as tax and tariff ideas continued to pop up globally amid the intensifying trade war chatter.

Canadian Dollar Dominates Forex Markets

USD/CAD, 5-Min Chart

The Canadian Dollar had a very active session following the Bank of Canada’s rate decision and statement, as we expected, and the tariff-exemption rumors gave another twist to the Loonie’s already hectic day before the bell.

First, the currency sold off, as the central bank’s officials voiced their concerns regarding trade, while leaving the benchmark rate unchanged at 1.5%, in line with the consensus estimate. The USD/CAD pair almost hit 1.30 amid the CAD dip, but the favorable news about the tariffs pushed the pair to its intraday low below 1.29, as stocks rallied towards the end of the session.

EUR/USD, 4-Hour Chart Analysis

The US Dollar was stable in the second half of the session against its most important peers, with the EUR/USD pair hovering around the 1.24 level, while the USD/JPY pair settling down near 106. With Treasury yields remaining near their recent highs, the Greenback might be ready to bounce back against the Euro, as the re-test of the previous rising trendline is now completed, and the MACD indicator is close to giving a sell signal.

Commodities had a dominantly bearish session despite the stable Dollar, as gold drifted lower throughout the day thanks to the improving global sentiment, while oil sold off after an encouraging start following the release of the mixed US crude inventories report, and industrial metals also finished lower.

Cryptocurrencies

BTC/USD, 4-Hour Chart Analysis

The segment took a heavy beating today, especially in the second half of the day, as the majors shed 10% on average thanks to the Binance hack rumors, and another report regarding the SEC’s crackdown on the cryptos. The plunge came on the heels of a two-day sell-off that had been relatively mild in the case of most of the coins, but now, as volatility and correlations jumped, things might get heated up, with several coins approaching crucial support zones.

BTC has been trading around $10,000 following the initial move $9450, and now it is back below the key level after-hours, with all eyes still on the line-in-the-sand support zone between $9000 and $9200 that could be tested in the coming days, as the short-term picture remains bearish, while the recovery is still likely to resume after the correction.

Featured image from Shutterstock

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Wallet Provider Bread Adds Bitcoin Cash Support for Apple Devices

Wallets

This week the popular wallet provider Bread (BRD – formally Bread Wallet) announced the release of its new update  — fully integrated bitcoin cash (BCH) support. Now Bread users can claim, send, receive, and store BCH alone or alongside BTC holdings.

Also Read: Japan’s SBI Holdings Claims 40% Stake in Hardware Wallet Company

Bread Wallet Enables Full Bitcoin Cash Support for iOS

The firm Bread announced on March 7 that the wallet company has added full BCH support for its iOS mobile wallet platform. This past August when the BCH chain was born, two weeks later the Bread team released a one-time extraction tool for users who wanted to extract their coins. The company says that many Bread users utilized the tool, but those who didn’t still have BCH held invisibly on their mobile wallets.

“With this new update, all iOS users will be able to see any BCH remaining in their wallets, and can send and receive BCH at will,” explains the Bread’s CPO James MacWhyte.

This new version of the app sports a modular framework, built from the ground up, that enables us to add multiple digital assets to the Bread platform, of which bitcoin cash is only the first. The next additions will be Ethereum and ERC20 tokens, which are on schedule according to the roadmap we devised at the beginning of 2018.

 Users Voiced Strong Support for Full BCH Access

Bread says back in August the team wanted to make sure the BCH chain would survive and there would be demand for the wallet’s BCH support. The company explains a large majority of Bread users did not have a strong opinion on the subject at the time.

“Either way were still in favor of having the option to store and use bitcoin cash in their Bread, and all users voiced strong support for getting full access to any BCH that might still be stored in their wallets,” MacWhyte details.

Adding Bread to the BCH ecosystem gives bitcoin cash over 25 lightweight wallets and 5 full node clients. MacWhyte says that the Android version of Bread is the midst of development and the BCH supporting version will be released in the near future.

What do you think about Bread supporting BCH? Let us know in the comments below.

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Images via Bread, Pixabay, Bitcoin Cash and Bitcoin.com. 

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Bitcoin Dips Below $9,500 Briefly, Market Recovers as Binance Hack Refuted

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Yesterday, on March 8, the price of bitcoin has dropped below $9,500 briefly, triggered by Binance hack rumors, the Japanese government’s issuance of penalty on local exchanges, and the sell-off of a massive amount of bitcoin by the Mt. Gox trustee.

Binance Hack Rumors Refuted

From over $10,600, the price of bitcoin dropped by more than $1,100 within a span of several hours, reaching $9,400. However, almost immediately after the development team of Binance, the world’s largest cryptocurrency exchange, refuted hack rumors and Changpeng Zhao, the CEO at Binance, released a statement regarding the situation, the market recovered.

Within 10 hours, the price of bitcoin declined from $10,600 to $9,400, and rebounded back to $10,000. The entire cryptocurrency market was extremely volatile during this period, as most major cryptocurrencies like Ethereum and Ripple followed the price movement of bitcoin.

In an official statement, the Binance team stated that hackers obtained the account information of users on the Binance platform through phishing attacks throughout February. Then, with the accumulated accounts, the hackers used a false API key to execute trades on behalf of users, triggering one cryptocurrency pair to spike in volume.

“Yesterday, within the aforementioned 2 minute period, the hackers used the API keys, placed a large number of market buys on the VIA/BTC market, pushing the price high, while 31 pre-deposited accounts were there selling VIA at the top. This was an attempt to move the BTC from the phished accounts to the 31 accounts. Withdrawal requests were then attempted from these accounts immediately afterwards,” wrote the Binance team.

Binance has since reversed all trades, and no losses were recorded. Strangely, only the hackers that attempted to take advantage of Binance users had their funds lost, as Changpeng Zhao noted.

Japanese Exchanges

Several analysts have attributed the recent minor correction of the cryptocurrency market to the penalization of Japanese cryptocurrency exchanges for having poor security measures and breaching Anti-Money Laundering (AML) and Know Your Customer (KYC) policies.

Tokyo-based technology reporter Yuji Nakamura revealed that two small-scale cryptocurrency exchanges have been shut down (FSHO and BitStation), four major trading platforms in GMO, Zaif, Bicrements, and Mr. Exchange were penalized, and two licenses were taken away.

Last month, the South Korean government imposed a penalty on cryptocurrency exchanges with poor security measures, as a part of a larger initiative to allow the cryptocurrency market to evolve and grow within a robust ecosystem, protecting investors.

But, the community has had an outsized reaction towards the crackdown on small cryptocurrency exchanges by the Japanese government.

After the CoinCheck $530 million security breach, the Japanese government received many complaints from investors, despite the fact that CoinCheck has decided to refund all users who have lost their funds during the hacking attack.

The recent brief correction was caused by a combination of four factors: Japan’s crackdown on small exchanges, Binance hack rumors, SEC’s announcement to exchanges, and major cryptocurrencies failing to meet key resistance levels.

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Sports Blockchain Platform Globatalent Announces ICO

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This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.

Globatalent, the blockchain platform which will decentralize the sports industry, has today announced that it is launching its initial coin offering (ICO).

A project co-founded by experienced entrepreneurs within both the sports and the blockchain industries, Globatalent has vowed to revolutionize the sports industry by allowing young athletes the opportunity to fulfil their potential while at the same time giving sports back to its fans.

Globatalent’s CEO, Sunil Bhardwaj, who has accumulated experience within the sports of basketball, F1 and football/soccer, announced ‘‘Globatalent is the platform that will radicalize sports through blockchain and cryptocurrency and we are absolutely delighted with the way the project is being received’’.

‘‘We have a really strong team with an extraordinary passion for decentralizing sports and transferring value directly to athletes and clubs and we’d love your support and interest to the project so we can share our confidence and knowledge and get you as excited about the project as we are’’ added Sunil.

Globatalent has attracted the interest of top sporting athletes and investors include top ACB Basketball coach Richard Casas Gurt, former LA Lakers star Maurice Evans and Portuguese Tennis player João Sousa who have decided to join in on a project that includes Ferran Martinez, a former professional FC Barcelona basketball player and Olympian.

For the Token Generation Event, Globatalent will issue a single token identified with the ticker “GBT”. Since GBT may qualify as a security token based on its intended function, only accredited investors may access Globatalent’s ICO.

The initial launch of the platform will be through a crowd sale dashboard accessible via www.globatalent.com offering 500,000,000 of the 1,000,000,000 initial GBT tokens. The GBT tokens will be distributed in two crowd sales; an initial private pre-sale followed by a public sale.

Instructions to participate in the sale will be provided on Globatalent’s social media channels and via email. The Token Sale event will take place over a secured platform that specialises in validation of participants through country-specific KYC/AML procedures.

The Private Pre-Sale will commence on Thursday 15th March 2018 with the Public Sale opening on Friday 16th April 2018. The ICO finishes on Sunday 6th May 2018.

For more information visit Globatalent’s website (www.globatalent.com)

Social Media:

Youtube (https://www.youtube.com/channel/UCD9YH3-Stofoh0eXWxwVBnA)

Twitter (www.twitter.com/@globatalent)

Facebook (https://www.facebook.com/globatalent.official/)

Linkedin (https://www.linkedin.com/company/globatalent)

Telegram (https://t.me/globatalent)

Disclaimer:

The information contained herein constitutes a general publication about an intent to offer tokens and is not an offer to buy or sell or a solicitation of an offer to buy or sell any securities or any interest relating to the entity issuing the tokens. This document does not constitute a recommendation regarding the tokens.

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CaskCoin Launches World’s First Whisky Cryptocurrency

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This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.

5th March, 2018 (Paisley, Scotland) – The world’s first blockchain-based whisky investment fund has launched in Scotland, offering investors the chance to own a share of a £40 million portfolio of world-class scotch via a new cryptocurrency, CaskCoin.

The CaskCoin portfolio is comprised of a range of casks, including some of the most sought after old and rare single malts, which are aged between 21 and 50 years old in cask. These includes notable whiskies such as Macallan, Glenlivet, Bowmore, Dalmore and Port Ellen, plus several exceedingly rare casks from closed distilleries.

Each coin will be backed by physical ownership of a share of every cask in the CaskCoin portfolio, stored in bonded warehouses in Scotland, opening the portfolio to global investors.

The CaskCoin team draws upon expertise in asset management, cryptography, blockchain development and the whisky industry. It is led by operations director and renowned whisky expert Ricky Christie.

The whisky will be managed through to bottling using blockchain technology, with CaskCoin holders voting on the best time to bottle, sell and reinvest in the portfolio.

CaskCoin operations director Ricky Christie said: “With CaskCoin, we are marrying hundreds of years of tradition with cutting-edge technology to provide a unique opportunity to invest in one of the most sought-after whisky portfolios in the world.

“Whisky has a rich history as a store of value and a medium of exchange, and we are building upon this idea with the help of the blockchain and our new CaskCoin cryptocurrency.

“Scotch is the most recognised and popular spirit in the world and has proven to be a robust and tangible investment that has consistently outperformed others in the marketplace.  CaskCoin is the first time that our industry has been opened to a global investor base.”

Alongside its range of old and rare single malts, the CaskCoin portfolio also includes a broad selection of single malts, from all the recognised regions of distilling in Scotland, aged from five to 20 years. Blended malts, single grains and blended scotch whisky complete the portfolio, all from notable distilleries and reserved exclusively for blending purposes.

CaskCoin’s initial coin offering (ICO) will look to raise more than £40 million and runs between March 12th and March 30th. A total of 5.2 million ERC-20 tokens will be available, at a cost of £8.15 each.

The minimum investment is £30,000, with payment in bitcoin or ether. Token bonuses are available for investors who buy CaskCoin in the first ten days of the sale.

Following the conclusion of the ICO, CaskCoin tokens will be publicly tradeable on a number of exchanges, with details to follow later in the year.

For more information and to read the whitepaper, please visit: www.caskcoin.com.

CaskCoin can also be found on the following channels:

Twitter: https://twitter.com/CaskCoin

Facebook: https://www.facebook.com/CaskCoin/

LinkedIn: https://www.linkedin.com/company/18512040/

Telegram: https://t.me/CaskCoin

Reddit: https://www.reddit.com/r/CaskCoin/

***ENDS***

Ricky Christie launches CaskCoin.

Ricky Christie is available for interviews. For more information, please contact:

Square in the Air Communications

David Bartram

+44 (0) 20 3586 1978

[email protected]

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When it Rains it Pours

A myriad of bad news hit the cryptocurrency markets yesterday causing double-digit losses on many of the biggest digital assets and Bitcoin itself dropped significantly below the psychologically important level of $10,000 per coin.

Rumors that one of the largest crypto-exchange sites in the world was hacked caused panic and confusion across social networks for several hours. But it soon became clear that the reports were in fact exaggerated and what actually happened was that there was a malicious trading bot using their API. All was fixed and back to normal before most people even knew what was happening.

At the same time, there were reports of a bear whale in the market. The trustee in the bankruptcy case against Mt. Gox exchange reported that he’d sold $400 Million worth of coins over the last 5 months.

Perhaps the most significant of the simultaneous news updates was an announcement from the SEC in the USA. The Securities and Exchange Commission has passed a ruling that crypto-exchanges to in fact qualify as “exchanges” and that they need to be registered as such, especially if they offer tokens that are classified as Securities.

Though Bitcoin is not usually seen as a Securities token, many of the other top cryptos may end up being classified as such.

The rapid succession and timing of all three above events was a lot to take in for this young market. As the top cryptotrader on eToro wrote in a post “when it rains it pours.”

But the clouds are clearing now and we seem to have found some support. Still, it’s good to see a spike in volume to get things moving again.

@MatiGreenspan
eToro, Senior Market Analyst

Today’s Highlights

• Tariff Week Continues
• New CopyFund for You
• Europe’s Central Bank

Please note: All data, figures & graphs are valid as of March 8th. All trading carries risk. Only risk capital you can afford to lose.

Traditional Markets

A particularly stormy day on Wall Street yesterday. Yet, somehow even with the resignation of Gary Cohn still on the top of the news cycle, and fresh news that Trump will almost definitely go ahead with the steel and aluminum tariffs, the global stock markets managed a meager recovery.

Though the Dow was down by a third of a percent, the S&P500 managed a flat close and the Nasdaq even gained a third if a percent.

What we’re increasingly seeing in the market and displayed by the above charts is that people are getting very selective about the stocks that they’re picking.

On that note, eToro has just launched a brand new CopyFund that is designed to outperform the rest of the markets using the power of big data collected by our platform and using machine learning to refine our algorithms.

You can see the new Copyfund @OutSmartNSDQ and so far, it’s done exactly that. From the time we started testing it in live, it has almost doubled the performance of the benchmark index.

This is because, rather than just weighing the index by the market cap of the shares within, we weight it based on our users who are trading the individual stocks to get a better picture of the sentiment.

The Big Bank Announcement

Early this afternoon (13:30 GMT), the global markets will be focused on a big press conference from the European Central Bank.

The ECB has been holding their cards very close to their chest lately as they try to tighten their monetary policy without sending the Euro through the roof.

The economy is looking much better than when they started printing billions of Euros each month and many feel that it’s time to end the easing. However, the less they print, the more the market sends the Euro higher.

Adding to the difficulties is the possibility of a global trade war. So it will be interesting to see how ECB governor Mario Draghi reacts to that, if at all.

Here we can see the EURUSD strengthening since the beginning of last year. Those yellow lines at the top are known by technical analysts to be a “bullish flag pattern.”

I’d like to wish a very happy Women’s Day to all our female readers. Wishing you the best of success in everything you do.

Note: I’m hoping to have a trip to Germany in the second week of April to meet some clients. Let me know if you’d like to meet up there during that time and I’ll do my best to see you too.

As always, please let me know if you have any questions on anything above or if you need any further assistance with your portfolio.

This content is provided for information and educational purposes only and should not be considered to be investment advice or recommendation. The outlook presented is a personal opinion of the analyst and does not represent an official position of eToro. Past performance is not an indication of future results. All trading involves risk; only risk capital you are prepared to lose. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework.

Best regards,
Mati Greenspan
Senior Market Analyst

eToro: @MatiGreenspan | Twitter: @MatiGreenspan | LinkedIn: MatiGreenspan | Facebook:MatiGreenspan

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