Bitcoin lacks momentum above $56,000, why the rally isn’t over yet
Bitcoin is showing positive signs above $54,000 against the U.S. dollar.

The bitcoin price remained in positive territory and climbed above $55,000 resistance. Bitcoin found support around $54,500 and the low was formed at $54,396. The price is now rising and trading above the $55,500 level. There has been a breakout above the 23.6% Fibonacci retracement level of the recent decline from a swing high of $56,500 to a low of $54,396.
It now faces resistance near the $55,500 level. There is also a key downward channel forming on the hourly chart of the BTC / USD pair with resistance near $55,650.
Bitcoin price remains in an uptrend

Ethereum miners receive nearly $2 billion in mining fees
According to behavioral analysis platform Santiment, the balance of Ethereum miners continues to grow as the figure reached a 50-month high.

The network and social metrics analytics provider noted that the amount of Ethereum stored by miners has reached its highest level since July 2016.
Miners are accumulating nearly $2 billion worth of ETH
Santiment noted on Twitter that the amount of Ethereum held by miners is at its highest level since July 13, 2016.
The price of Ethereum has risen 10.32% in the past 7 days, recently surpassing the $3,600 mark.
Ethereum miners get almost $2 billion

Bitmain says it will no longer supply bitcoin miners to mainland China
Bitmain, the maker of bitcoin mining equipment, will no longer ship its machines to mainland China addresses.

The Beijing-based firm has announced that it will comply with local regulations and suspend domestic shipping starting Oct. 11, but overseas operations will remain normal.
This move by Bitmain may not affect the company much, as its domestic sales have been declining since late last year amid rising mining in North America. The company’s move may formally mean the end of its domestic market share, which accounted for nearly 50% of revenue in 2017 and about 40% in the first half of 2018.
Bitmain statement.

ConsenSys expects a $3 billion valuations, MetaMask promotes growth
ConsenSys, a leading blockchain startup, now has a valuation of $3 billion.

ConsenSys recently made huge profits thanks to a boom in decentralized finance. It is also leading the market for creating financial services applications and other automated software based on Ethereum.
Earlier this year, in April, ConsenSys raised $65 million from some of the leading financial giants such as Mastercard, JPMorgan, UBS, and others.

XRP reached $1.22, up more than 13%
Ripple-linked XRP rose to more than $1.20 overnight

According to CoinMarketCap, the sixth-largest cryptocurrency, XRP, has gained more than 13 percent in the last twenty-four hours as its price rose to $1.22.

Binance shuts down derivatives trading in South Africa
Global cryptocurrency exchange Binance is reducing its cryptocurrency trading offerings in South Africa.

On Oct. 8, Binance published a blog post announcing the immediate termination of futures, options, margin, and leveraged trading for users in South Africa. Users with open positions will be able to close them by January 6.

South Korea will not tax profits from NFT, even as it moves to tax cryptocurrency income.
South Korea is undecided on how it should tax profits from NFT.

That South Korea is going to start taxing cryptocurrency income starting in 2022 is no longer news, but the Asian country’s Economy and Finance Minister Hong Namqi said that the proposed cryptocurrency tax law would not apply to non-exchangeable tokens. The minister said this while speaking at the annual review of the National Assembly.

Total value locked in Defi exceeded $200 billion for the first time
According to Defi Llama charts, Defi’s dominance has increased dramatically in 2021, and recent reports show that the total value locked into DeFi has reached a record $210.5 billion.

The latest virtual currency adoption report from blockchain-based analytics firm Chainalysis also shows a surge in the Defi market in just one year. The report notes that the Central and South Asia and Oceania region has seen the highest use of cryptocurrency, with Vietnam, India, and Pakistan topping the charts, according to the Global Crypto Adoption Index.
In addition, it specifies that Defi activity has increased dramatically, as the share of total transaction volume dedicated to Defi activity has increased since May 2020, and will further exceed 50% by February. This activity was mainly driven by Uniswap, Instadapp, and dydx, with significant activity also on Compound, Curve, AAVE, and 1inch.
Total value locked in Defi.

Using Options As a Primary Alternative

When a swing trader uses an option as a primary alternative to a stop loss, the intent is to reduce or diminish any exposure to loss while at the same time staying one step ahead of the market. This is directly tied into the money management plan that is already in place. Large money managers will have in place a standing risk of loss that can’t exceed 2 percent of their account value, while individual traders may be more liberal, allowing as much as 5 to 10 percent of their accounts to be at risk at any given time.

Rules for Money Management

It is said that the game of golf is not played on the green but between your two ears. The same can be said of trading. Your mind-set and the preparation of your mind are all important. You must be focused on the who, what, when, where, why, and how of a situation in order to formulate your course of action. While it is not easy, it is simple.

Getting the Right Options for the Job

Understanding option selection, having an idea about delta, and being able to calculate the savings, values, and gains of the various options form the essential foundation needed to utilize any of the ideas presented here. By beginning with straddles and strangles you are able to play around with using puts and calls as a risk management strategy without feeling like you are betting the farm. It is important that you have a grasp of choosing the right options to work in tandem with your spot, futures, or margined position.

Options: An Alternative to the Stop

There is no other way to say it. There is no other way to look at it. No matter how clever you are at placing a stop loss, if it is triggered that simply means that you are on the losing side of the market. This can be frustrating, particularly when swing traders thrive on the exact type of market scenarios that stops are weak in.

Strike Price, Premium, and Synthetic Options

When you purchase an option, you must decide whether you are going to purchase an in-the-money, at-the-money, or out-of-the-money option. Depending on which option you purchase, you will pay either an expensive or a low-cost price for your premium. The price that is paid for the option premium plays a significant role in how successful an option can be in the long run.

Replacing Traditional Options With Synthetic Options

Option trading can be very liberating for individual traders. Options offer traders the opportunity to have unlimited profit potential with limited risk. No matter who you are, small trader or money manager, if you can limit your risk up front it becomes more comfortable to take the risk. Options have the ability to provide a high level of comfort. There is simply no misunderstanding what you are getting into when you purchase an option. If you invest $400 to purchase a call or a put, your risk is limited to the $400-no more than that, but possibly less if you sell the option early. This is not the case when it comes to all investment products.

Collar at the Inception of a Trade

The collar requires three components: the initial trade, long or short; an out-of-the-money option that is purchased to lock in profits, either a call or a put; and an out-of-the-money option (which sits ahead of your initial trade) that you sell. For instance, if you have a long collar trade on the euro, you purchase a put at support, go long the market, and sell a call at some point of resistance.

Using Options As a Secondary Stop Loss

The second way to use a protective option is in conjunction with a stop. The closer an option is to its underlying asset, the more expensive it will be. It stands to reason that an option placed at a 2 percent loss threshold will be more expensive than an option placed at a 10 percent loss threshold. Whether because of account size, number of contracts placed on the trade, feeling a premium is too expensive, or simply looking for a way to stagger your trades, having a stop loss order in the first position and a protective option as a secondary stop loss can be an advantage.

Preparing to Speculate

There are a great number of speculators turned traders. They purchase courses and attend seminars, and they all maintain fantasies of becoming the next George Soros or the next “oracle of Omaha,” Warren Buffett. While these dreams are important to have, they also become an impediment to traders forming their own opinion and view of the markets. It also lays the foundation for reckless behavior and inability to grind it out.

Spread Trading: Great Opportunities For Traders

If it can be said that one concept that has influenced every seasoned trader’s idea of what risk management can be like, that concept would be spread trading. The idea of seasonal spread trading has been around since the inception of the commodities exchanges in the United States. Based on the dual impact of storage and planting, seasonal spread trading has greatly influenced the way all types of traders, retail and commercial, interact with various commodities.

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