Relative Strength Index (RSI): Identify Levels of Overbought and Oversold Market Conditions

The Relative Strength Index (RSI) is a platform based trading indicator that looks at both volume and price momentum when gauging the velocity of a financial instrument. Regardless of being oversold or overbought, any market condition can be analyzed using the Relative Strength Index. This is accomplished by calculating a financial instrument’s momentum of losses and gains during a predetermined period of time (typically 14 days).

Overbought Relative Strength Index Level

The Relative Strength Index level used most frequently on trading platforms to decide on an action based on an overbought reading is 70.

• If a Relative Strength Index reading of 70 or greater occurs, you may want to consider selling the financial instrument in the near future as trader interest might be too great to stay in the trade
• Additionally, if a Relative Strength Index reading of 70 or greater occurs, you may want to consider setting a sell stop order on your online trading platform to either leave a position or enter a short position Continue reading “Relative Strength Index (RSI): Identify Levels of Overbought and Oversold Market Conditions”

How to buy bitcoin with your PayPal account

PayPal is a worldwide payment system that many South Africans use to accept payment on their website, or simply to send money to friends and family. There are a lot of people who would like to know how to buy bitcoin with your PayPal account, so we have made this post to show you how to do this step by step. Please note that using PayPal to buy bitcoin will mean paying some extra fees, but depending on the local South Africa bitcoin exchange rate, you might still be able to buy at a good rate.

Using VirWoX to buy bitcoin using PayPal you are going to pay around 9% in fees, but this is still the cheapest, easiest, and fastest way to buy BTC with PayPal. It is possible that you may need to wait a few days after opening your VirWoX account before you can deposit money. After your first deposit, future deposits can be made instantly. Your initial buying limit is $88 per day or $261 per month, although these limits grow over time if you buy frequently. Continue reading “How to buy bitcoin with your PayPal account”

Researcher: Stop Worrying About Bitcoin’s Environmental Impact

A common mainstream media trope is that Bitcoin mining will soon use so much electrical power it could lead to an environmental catastrophe. We’ve often provided examples of how this is a false narrative, and now an independent energy researcher is saying the same. She points to miners migrating to locations with abundant renewable energy and highlights that the banking system is far more wasteful.

Don’t Worry, Be Happy

Researcher: Stop Worrying About Environmental Impact of Mining’s Energy IntensityDr. Katrina M. Kelly-Pitou PhD holds dual roles at the University of Pittsburgh as a Research Associate in the Department of Electrical and Computer Engineering, and as Manager of Strategy and Business Development for the Center for Energy. On Monday her article titled “Stop worrying about how much energy bitcoin uses” appeared on The Conversation, a not-for-profit outlet for content sourced from academics and researchers. In it she takes to task the notion that mining is inherently energy wasteful and thus dangerous to the environment.

Regarding the oft-cited estimation that mining used 30 terrawatt hours in 2017 – as much as Ireland – she explains: “This is a lot, but not exorbitant. Banking consumes an estimated 100 terrawatts of power annually. If bitcoin technology were to mature by more than 100 times its current market size, it would still equal only 2 percent of all energy consumption.” She believes this maturing process is inevitable, as happened with previous energy-intensive new technologies such as data centers and computers, saying: “Over time, all of these have become more efficient, a natural progression of any technology: Saving energy equates to saving costs.”

Ask How, Not How Much

Researcher: Stop Worrying About Environmental Impact of Mining’s Energy IntensityThe researcher states that electricity usage can increase while still maintaining a minimal impact on the environment, and suggests that the source of power is what’s important. “Not all types of energy generation are equal in their impact on the environment, nor does the world uniformly rely on the same types of generation across states and markets,” she explains, adding that, “perhaps people should quit criticizing bitcoin for its energy intensity and start criticizing states and nations for still providing new industries with dirty power supplies instead.”

Specifically, she points to miners migrating out of coal-dependent China, and into areas with cheap renewable sources such as hydroelectric power in Oregon and geothermal-rich Iceland. For another example, we reported earlier this year about a Japanese electricity company that uses excess solar power for mining.

Do you think mainstream media estimates of Bitcoin’s environmental impact have been overstated? Share your thoughts in the comments section below.


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