Gissis (reviewed here) continues to bring world news from both traditional and crypto economic areas. We can’t be sure of what the BTC market will bring in the future, but it’s nice to see any analysis. Again, such news is also a signal of program activity in any case for all potential investors. Let’s give ourselves a few minutes to read this..

Here’s the news:

Bitcoin futures data shows traders focused on $12K.

There is no better indicator of a bull market than bad news. Regardless of BitMEX’s diminishing importance in volume and pricing, a government-backed action against a top-5 exchange would certainly have dampened the price had market sentiment been neutral or negative.

Investors and crypto advocates should also factor in Kucoin’s $150 million hack just 6 days ago. It literally had zero impact on Bitcoin price at the time. Now imagine those events happening a year ago, when BTC was in a downtrend after a failed $14K test as followed by a top formation at $12K.
 
Meanwhile, as all of this BitMEX scandal takes place, gold touched a 2-month low at $1,850 on Sept. 28 and has now partially recovered to $1,900. There are also discussions to finalize a second round of economic stimulus to the tune of $2.2 trillion and in less than 30 days the U.S. will have its presidential election.
 
Historically, all of these events tend to inject uncertainty into the markets and the fact that   Bitcoin derivatives’ data continue to hold steady during such turbulent news flow suggest that $12K may be tested sooner than one might think. 
 
Stay up to date with Gissis Holding Company!

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