cryptocurrency

Barclays denies developing crypto-trading platform, but bitcoin bulls prolong stern rallies


Leading retail and investment banking conglomerate, ‘Barclays’ has denied the probable creation of a cryptocurrency trading desk within the organization amid persistent bearish trend that has dampened luring effects in this digital asset class among many prospective investors.

Well, earlier 2018, there had been buzzes surfaced that Barclays had teamed-up of four executives assigned to assess the viability of cryptocurrencies as an asset class and looking at demand/supply equation for cryptocurrencies in the long-run among the bank’s clients and the kind of IT infrastructure that would be needed to support trading.

BTCUSD surged almost over 9 pct in yesterday’s rallies as Tether began losing its grip on the USD-peg.

The rallies of this pair squared-off with a shy 2 pct gain, the rallies have continued today as well attempting to break-out triangle resistance. If bulls manage to break-out this level and sustain above then we could foresee more upswings in the weeks to come.

With a view of arresting upside risks, CME and CBOE BTC futures are available. Computation of such derivatives pricing is the most essential thing to consider. Few players, like Sentrix, ORE are rendering options services in this asset class. While evaluating the future prices of this unconventional currency BTCUSD, pricing BTC vanilla options at ORE is not straight forwards as it’s a new and a very volatile instrument. They appear to be exploiting with advanced mathematical models and techniques to try and infer future behavior of BTC.

Capitalizing on such Bitcoin vanilla options, BTC option traders can get a clarity about bitcoin future prices and volatility to certain extent.

Read More   Plutus: Cryptocurrency DEX (Decentralized Exchange) With No Fees?

Currency Strength Index: FxWirePro’s hourly BTC spot index is flashing 95 (which is bullish), while hourly USD spot index was at -137 (bearish) while articulating (at 08:17 GMT). For more details on the index, please refer below weblink:

http://www.fxwirepro.com/currencyindex





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