Bitcoin rate over 800 EUR – To the moon? No, to the stars!

The current upward trend is gaining speed, so the price is currently at 840.58 EUR (877.33 USD).

Again the price rose continuously throughout the week. Since 21 December, this rise has been steeper.

Today, on December 22nd, the price rose again, so that it now stands at 840.58 EUR (877.33 USD).
Wow – only yesterday we were jubilant that the price had risen above 800 dollars, today the price rises significantly above 800 euros. We are experiencing a price rally that last took place at such heights two years ago. With the breakthrough of 800 dollars, one of the great resistances of the price was broken, on which Bitcoin still gritted its teeth in June. Of course, this has given the share price an enormous boost, so that – depending on the exchange – it has already reached historic highs.

As an example, the long-term price development of the Bitcoin code

With the exception of a short spike on 6 November 2013, the Bitcoin code established at the beginning of 2014 was broken through. On other Exchanges it is not yet so clear, but with all modesty one can say that also there this Bitcoin code is currently being shaken.

Bitcoin has long since left the “To the Moooon! moon” behind him and the flight continues. That’s also what the indicators say.

The MACD (second panel from above) is still positive. Just the rush of this morning has pushed the MACD line (blue) clearly over the signal (orange). The MACD is therefore bullish overall.

Of course also the RSI is bullish (When in the last weeks was it actually bearish?). At 94, it is overbought as never before this year. Of course this is a signal for caution, but the price developments over the last few months have taught us that overbuying is not an immediate sign of a price fall.

The Bitcoin code remains positive

So that’s everything very, very positive. Of course we see that we are in a rally and have to see what happens when it is over (then a good moment would have come for Bagholder to bring her Bitcoin code home), but all signs are bullish for now like this:

Looking at different time scales has always been worth it, just to see if the trend is confirmed in the long run. And yes, he thinks so: “On the 240-minute chart, we see last month’s development:

The price has actually always risen. Yes, he tested the EMA100 trend twice, but otherwise it just went up. Here, too, we can see that in the last few days the share price has increased in speed.

The indicators are also positive here, whereby both the very strong discrepancy between MACD line and signal and the astronomical height of the RSI speak for a consolidation soon.

Money laundering at Shapeshift? The reaction of the stock market

According to a report in the Wall Street Journal, 88.6 million US dollars of illegally acquired funds were channelled through 46 different crypto exchanges via Bitcoin & Co. The report published on 28 September focuses in particular on the allegedly anonymous platform Shapeshift. According to the report, a total of nine million US dollars had been washed on the stock exchange. Now Shapeshift is defending itself with a public statement.

Shapeshift is a crypto exchange founded in 2014 that allows users to exchange crypto currencies such as Bitcoin without giving their identity. It is possible to track the addresses of the transactions. But who is behind the addresses remains unknown.

Criminals have now apparently taken advantage of the Bitcoin news

To prove this scam, onlinebetrug spared no expense and effort and developed its own computer program that tracked the financial flows of over 2,500 users suspected by the journal of fraud. According to the Bitcoin news, these include mainly investment fraudsters and Ponzi schemes. With the help of Shapeshift, for example, they have converted their Bitcoin into Monero and can no longer be found. The Wall Street Journal criticises in the report that Shapeshift has still not abandoned its policy of anonymity.

This is how Shapeshift reacts: Massive criticism of the criticism
On October 1, Shapeshift reacted to the report in a public statement. According to the Crypto Exchange, the report is “peppered with inaccurate and sometimes even false data”. For over five months, the Bitcoin Exchange had been working with the financial journal, answering its questions and always being cooperative. Among the many topics discussed, however, nothing of the criticisms that the Wall Street Journal has now published has ever come up. In addition, nine million US dollars are only 0.15 percent of the trading volume of Shapeshift – too little to criminalize it.

Fraudsters convert Bitcoin formula to Monero

But even to this extent money laundering via onlinebetrug is not possible. The Exchange works closely with a large number of other crypto exchanges in order to prevent criminal energy. In return, even entire countries are on the Bitcoin formula list. Instead of withholding information about suspicious accounts for months on end, the Wall Street Journal could have provided Shapeshift with the necessary data to prevent possible crimes. This was apparently not the aim of the financial journal.

Moreover, Shapeshift doubts the competence of the authors, who are by no means fully involved in the topic. In the public statement, the Exchange goes into further accusations in detail.

The old attempt to criminalize anonymity
Of course it is desirable to put a stop to Ponzi schemes and fraud. However, the question arises as to which is the best way to do this. It seems to be much better to educate people about their machinations than to criminalise projects that want to promote privacy.

Too quickly the child is dumped with the bathwater and whole large projects are shorn over a ridge, as here in the case of Shapeshift. Especially since the general accusation that crypto currencies are mainly used for criminal purposes no longer has much to do with reality. The trend is clearly in the opposite direction.

Sentiment analysis for crypto currencies

The bon mot ‘there is no bad press’ does not apply to crypto currencies. EOS had a media presence on Twitter regarding the accounts frozen by block producers, but this was rather negative. Accordingly, it is helpful to follow the general mood on the social media around a crypto currency.

Scionanalytics offers first approaches for such a sentiment analysis

In this, the evaluation of the tweet is classified AI-supported. In a pie chart, the sum of the tweets within the last week is displayed. If you move the mouse over a section of the pie chart, you get a rough picture of the mood within the last week for a crypto currency:

As you can see, the opinion of the Twitter community regarding DASH has been rather positive. Of a total of around 43,000 tweeets, almost 5,000 are positive, while just under 1,400 are negative. The ratio between positive and negative tweets is therefore 3.6.

For EOS, for example, the picture looked somewhat less good last week thanks to the dramas affecting the block producers: Here the ratio is 2.3, so in relative terms fewer positive tweets were posted than at DASH.

An interesting project with optimization potential

In addition to these features, Social Coin Analytics tries to give AI-based price forecasts. Should the probability for such a forecast exceed a certain level, it will be displayed in the dashboard. The Iunera team continues to train the AI in order to make successively better predictions.

Social Coin Analytics from Iunera knows how to please. Data nerds can spend a lot of time studying the tweeting behavior for different crypto currencies.

As with many young projects, working with Social Coin Analytics results in a small wish list in your head. So it would be extremely useful if one could also look at longer time intervals. Furthermore, it would be great if you could also consider data from other social networks. Also important is a filter option in the time-dependent plot so that you can only look at the positive or negative tweets as a function of time. After all, it would be fantastic if you could watch the tweets yourself at certain times, as in the above example on June 24.

Nevertheless: The wishlist shows above all that you quickly get a desire for more when using it. An interesting tool, which one should pursue further.