Bitcoin / USD – Daily chart in semilogarithmic scale – Elliott Wave Forecast – Long term outlook
Do you remember the binary options? Yes, when on all websites could we read about lucky people who had stopped working because they had become rich through binary options? Here they were banned by the ESMA (https://europa.eu/esma_it), the European Supervisory Board recently on the subject (https: //www.esma.europa. eu) to protect retail investors.
Well, maybe it is also for this reason that like magic for about six months no one reads from anywhere about the “train” binary options that seems to have suddenly evaporated. However, what do binary options matter with the cryptocurrency subject of this article? I’ll immediately explain to you. The last article published in The Inch Magazine concerned Bitcoin and cryptocurrency (The Inch Magazine) referring to the important breaking news of May on this market.
The article has been posted on Facebook freely and for a fee. In the first case was all right but when it came to starting the Facebook advertising machine the answer was this:
“Your ad wasn’t approved because it doesn’t follow our Advertising Policies. We do not allow ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, or cryptocurrency. This policy is part of an ongoing effort to improve the integrity and security of our ads, and to make it harder for scammers to profit from a presence on Facebook.
How to fix: Unfortunately, we don’t support your business model. If you wish to continue advertising on Facebook, we suggest promoting a different service or product.
You can check the status of your verification in Help messages.”
For Facebook, cryptocurrency and I.C.O. they are like binary options. I went to check immediately if there were official reports of ESMA and I found only a recent warning (https://www.esma.europa.eu/press). At this point, I have elected to lodge a motivated appeal to Facebook to that I presented as follows:
“Binary options were banned by ESMA but cryptocurrency only recorded warnings. Can you explain to me why the post does not block it if I send it without advertising? Why if I want to pay it, do you block it? You have noticed that InchCapital s.r.l. is configured as a media financial information company and not as a broker, does not invite investment by the public, does not stimulate buy or sell trading, and only makes financial information to protect the end-users. Do you have a clear record to associate cryptocurrency with binary options? Do you have a team of analysts or you have an official documentation on the topics you have dealt with in your answer, namely Cryptocurrency and I.C.O.? I request your approval and publication for all of this. The content of the article is objective and aims to investigate the risks of this type of trading or investment, which in my opinion should not be demonized in advance. Please pay attention to the content of the article, which is only the first of others that will follow on the cryptocurrency topic. Best Regards.
Emanuele Cecere – C.E.O. InchCapital s.r.l.”
The appeal has been registered now we will see what will happen in the coming days. I will keep you informed.
However, are these cryptocurrency so terrible? They are at high risk because they are characterized by high volatility (https://it.wikipedia.org/wiki). In general, the more an object is illiquid, the greater the price variation that is recorded in the unit of time considered. In fact, the current volatility of Bitcoin is lower than that expressed until the end of 2017. In essence, 2018 can be defined as the year in which the main cryptocurrencies have the opportunity to highlight ATR (https://en.wikipedia.org) more suitable to be considered as financial assets to be considered. The correction in progress for over six months is accompanied by a steady decline in volatility.
Bitcoin / USD – Daily chart in semilogarithmic scale & ATR 14 – Elliott Wave Forecast – Short term outlook
Whereas previously the usual daily percentage changes of a liquid cryptocurrency were usually higher than 5%, we now see fluctuations comparable to those of other financial assets and this is a positive fact that already in itself should also be highlighted in relation to supervisors.