DueDEX: What’s Happening in Crypto World Today? — Nov. 14th, 2019

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1. Mainstream Currency Price as of 12:00 PM UTC from Coinbase Pro:

· BTC —8,611.98 USD
· ETH —184.66 USD
· EOS —3.360 USD
· XRP —0.2650 USD

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2 The Fear & Greed Index: 41 — Fear

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3 Crypto Updates:

• Softbank-Backed Blockchain Firm OneConnect Eyes $100M Nasdaq IPO

Softbank-backed Chinese fintech OneConnect has filed for an Initial Public Offering (IPO) with the United States Securities and Exchange Commission (SEC).
As Bloomberg reported on Nov. 13, OneConnect is the blockchain- and AI-focused fintech arm of Chinese insurance giant Ping An.

• Bitcoin Price Tests $8,500 Support as Trader Warns of Further New Lows

Bitcoin (BTC) fell below $8,600 on Nov. 14 as its slow grind downwards continues to see new lows haunt markets.
Data from Coin360 shows the largest cryptocurrency hitting $8,550 on Thursday, its lowest since late October. A subsequent rebound took BTC/USD back above $8,600.
Bitcoin has spent most of the week steadily eroding gains it made previously, first losing support at $9,000 and exiting a trading corridor that had previously kept it rangebound between $9,000 and $9,500.
Opinions remain mixed about the near-term prospects for traders, but bearish sentiment is creeping in as losses continue.
In his most recent update for subscribers of his Telegram channel, regular Cointelegraph contributor filbfilb warned that there was now potential for shorting BTC/USD and that a sharper drop could occur.
“Looks like we need to go lower. Getting signs to flip short but waiting on candle closes,” he said during Thursday’s trading.
As Cointelegraph reported, lower levels do not necessarily signal trouble for Bitcoin. According to some analysts, as well as the traditionally accurate Stock-to-Flow model for Bitcoin price forecasting, $8,300 is a realistic average price from now until May 2020.
Markets nonetheless continue to be erratic, with no one predicting October’s sudden advance to $10,500, which became the second-largest daily move in Bitcoin’s history.

• John McAfee Launches WHACKD — An ‘Epstein Didn’t Kill Himself’ Crypto

American entrepreneur and vocal crypto advocate John McAfee has launched a polemical meme cryptocurrency dubbed “WHACKD.”
The token’s full rubric — “Epstein Didn’t Kill Himself” — was revealed in McAfee’s Nov. 11 Twitter announcement on Nov. 11.
The image used to advertise WHACKD — a portrait of Hillary Clinton with eyes fixed cravenly on a pair of dangling feet, as she clutches a slice of pizza — point to McAfee’s conspiratorial take on the death of billionaire Jeffrey Epstein this August.
While an autopsy of Epstein’s death concluded that he had committed suicide in prison, the case has since become shrouded in controversies. The billionaire had been arrested in July on federal sex trafficking and conspiracy charges pertaining to the alleged abuse of hundreds of young girls.
Since he was found dead at the New York Metropolitan correctional center on Aug. 10 — having been briefly under, and then removed from, suicide watch — the deceased’s lawyers have said they are not satisfied with the handling of the autopsy.
The billionaire’s web of relationships with President Donald Trump, former President Bill Clinton and Britain’s Prince Andrew — and questions surrounding how far his alleged abuses would have been known to them — have provided fertile soil for a host of conspiracy theories and online memes to take root.
McAfee — who has repeatedly voiced his skepticism as to the suicide line — told reporters earlier this week:
“The man was six-foot-one, he hung himself from a bed that was only five-foot-seven in a manner that managed to break his neck in multiple places similar to someone being physically strangled. His cellmate was taken from his cell six hours before his death, the video cameras were off and the guards in that cell block were sent home early due to cleaning.”
“You add all that stuff up, and I don’t see how a suicide is possible,” he added.

• Bitcoin Fixes This: PayPal Cuts Payouts to Over 100,000 Pornhub Models

Bitcoin (BTC) is being championed as the solution to a new payment crisis affecting the adult entertainment website Pornhub. In a blog post on Nov. 14, Pornhub revealed that payment processor PayPal had abruptly stopped servicing its models.
Previously, models throughout the world received payouts via PayPal, which has not publicly stated why it cut them out of its platform.
“We are all devastated by PayPal's decision to stop payouts to over a hundred thousand performers who rely on them for their livelihoods,” the blog post reads.
Pornhub is now using direct funds transfer alternatives, which models must set up themselves. The website began a deal with cryptocurrency project Verge (XVG) last year, while users can purchase products with various cryptocurrencies via Pornhub’s partnership with merchant gateway PumaPay.

• EU Must Coordinate Crypto Regulation to Become Global Leader: AFME

Europe has the potential to become a global leader in crypto-assets if it succeeds to create a common approach to regulating the sector.
So goes the argument in a new report from financial markets advocacy group, The Association for Financial Markets in Europe (AFME), in a new report published on Nov. 14.

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4 Trader’s View:

• VasilyPonomarev from Tradingview: BITCOIN: Looks Bearish

it looks like bears will push the market to retest the recently broken major trendline .
I believe that this abnormal bullish impulse of 25th and 26th October will be "eaten" by bears
and at least until 8000 level the tendency will be bearish .

for buyers:
be focused on the 7500-8000 area.
we might see a strong bullish reaction from this zone

• XForceCrrypto from Tradingview: BITCOIN: Bulls Losing Support? - Short Idea

Bitcoin is currently facing heavy resistance, yet still showing quite a bit of demand in the lower end of the spectrum for support. We are technically still holding the bullish RSI divergence on the 4 hour, as there is a lower low being printed on the price action, and a higher low on the RSI indicator. We believe that Bitcoin is facing resistance and may be falling for lower levels before any sort of move up, unless the bulls step up their game at this moment of time at $8,600.

Here, we are showing you a short idea if we were to see a negated RSI divergence.

1. We should at the very least be seeing 8.5K, and if 8.5K does not show strength after consolidation, we should be seeing 8.2K

2. If 8.2 is not able to hold, we should see our last target at 7.8K for further analysis.

This is a counter trade idea to our previous idea, so if you would like to still see our valid bullish case, please check our previous trade idea on why we also believe that the RSI divergence is still in play.

Trade Safe.

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