Rapper 50 Cent Is Now a Bitcoin Millionaire
https://www.coindesk.com/rapper-50-cent-now-bitcoin-millionaire/
Rapper 50 Cent's move to accept bitcoin for his 2014 "Animal Ambition" album has resulted in a multi-million dollar windfall.
https://www.coindesk.com/rapper-50-cent-now-bitcoin-millionaire/
Rapper 50 Cent's move to accept bitcoin for his 2014 "Animal Ambition" album has resulted in a multi-million dollar windfall.
Bermuda Could Launch a Blockchain Land Registry
https://www.coindesk.com/bermuda-launch-blockchain-land-registry/
Bermuda is moving toward setting up a blockchain-based system for recording property deeds, its premier said at Davos this week.
https://www.coindesk.com/bermuda-launch-blockchain-land-registry/
Bermuda is moving toward setting up a blockchain-based system for recording property deeds, its premier said at Davos this week.
Bitcoin Price Analysis: Bearish Continuation Likely as BTC Tests Strong Support
https://bitcoinmagazine.com/articles/bitcoin-price-analysis-bearish-continuation-likely-btc-tests-strong-support/
https://bitcoinmagazine.com/articles/bitcoin-price-analysis-bearish-continuation-likely-btc-tests-strong-support/
Lower highs and lower lows have been the story of bitcoin (https://bitcoinmagazine.com/articles/bitcoin-price-analysis-potential-bearish-continuation-sets-lower-lows/) for the last few weeks — market behavior that has left even the most bullish investors scratching their heads. Since bitcoin’s dramatic rise to $20,000, there has been a series of harsh drops temporarily stifled by feeble rallies. At the time of this article, BTC-USD has managed to break through three major levels of support of both the upper and lower parabolic trends, and a long-term linear trend:
Figure 1: BTC-USD, 1-Day Candles, Macro View
For the time being, BTC-USD has managed to find support on the macro 50% retracement values twice. The 50% retracement has proven to be a strong level of support, but if you take a closer look at the market, there isn’t a whole lot of support below those values all the way down to the $7,000 values.
For the time being, BTC-USD has managed to find support on the macro 50% retracement values twice. The 50% retracement has proven to be a strong level of support, but if you take a closer look at the market, there isn’t a whole lot of support below those values all the way down to the $7,000 values.
Figure 2: BTC-USD, 6-HR Candles, Next Levels of Support
Looking at the way the 50 and 200 EMA are acting on the 6-hour chart, we see that the overall macro trend is moving downward and is actually finding resistance on the 200 EMA — values that for a long period of time have shown to be firm levels of support. On the 6-hour candles, the 50 and the 200 EMAs have formed a pattern called a “death cross.” A death cross is when the 50 EMA crosses downward and begins trending below the 200 EMA. This is typically a sign of a more macro, bearish market outlook.If the 50% values fail to provide support on the next test, a sharp drop could be in store — a sharp drop similar to the one from $14.5K to $9K. Looking at the image above, it becomes apparent that the parabolic rise to $20K was so sharp and aggressive, there was little time to establish firm levels of support on the way up. Well, now that we are moving back down in price, the aggressive growth comes with aggressive consequences. In our case, the aggressive consequence is the lack of support between the $10,000 and $7,000 values. If we do see a drop below the 50% Fibonacci line, it is highly likely to find support along the 61% values where the blue bar is shown above.Another level of support is likely to be found on the daily 200 EMA, just above the blue region:
Looking at the way the 50 and 200 EMA are acting on the 6-hour chart, we see that the overall macro trend is moving downward and is actually finding resistance on the 200 EMA — values that for a long period of time have shown to be firm levels of support. On the 6-hour candles, the 50 and the 200 EMAs have formed a pattern called a “death cross.” A death cross is when the 50 EMA crosses downward and begins trending below the 200 EMA. This is typically a sign of a more macro, bearish market outlook.If the 50% values fail to provide support on the next test, a sharp drop could be in store — a sharp drop similar to the one from $14.5K to $9K. Looking at the image above, it becomes apparent that the parabolic rise to $20K was so sharp and aggressive, there was little time to establish firm levels of support on the way up. Well, now that we are moving back down in price, the aggressive growth comes with aggressive consequences. In our case, the aggressive consequence is the lack of support between the $10,000 and $7,000 values. If we do see a drop below the 50% Fibonacci line, it is highly likely to find support along the 61% values where the blue bar is shown above.Another level of support is likely to be found on the daily 200 EMA, just above the blue region:
Figure 3: BTC-USD, 1-Day Candles, Daily 200 EMA
The 200 EMA on the daily chart has proven time and time again to be a firm level of support in previous corrective periods. It is highly unlikely that this level of support would break without several tests of the 200 EMA. In general, there is a strong confluence of support between the low $7,000s and high $8,000s. Given the current trend of lower highs and lower lows, I think it’s very likely we will see a test of these support levels.Summary:Bitcoin has managed to establish a trend of three lower highs and four lower lows to really cement the current bearish trend.
Bitcoin managed to find resistance on the parabolic curve and is now in the process of testing the support of the 50% Fibonacci retracement values.
If the current levels of support do not hold, support will be found between the $8,000s and $7,000s as there is a strong confluence of support in those price values.
Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.
This article originally appeared on Bitcoin Magazine (https://bitcoinmagazine.com/).
The 200 EMA on the daily chart has proven time and time again to be a firm level of support in previous corrective periods. It is highly unlikely that this level of support would break without several tests of the 200 EMA. In general, there is a strong confluence of support between the low $7,000s and high $8,000s. Given the current trend of lower highs and lower lows, I think it’s very likely we will see a test of these support levels.Summary:Bitcoin has managed to establish a trend of three lower highs and four lower lows to really cement the current bearish trend.
Bitcoin managed to find resistance on the parabolic curve and is now in the process of testing the support of the 50% Fibonacci retracement values.
If the current levels of support do not hold, support will be found between the $8,000s and $7,000s as there is a strong confluence of support in those price values.
Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.
This article originally appeared on Bitcoin Magazine (https://bitcoinmagazine.com/).
Digital Marketplace Startup Completes $15 Million Token Sale
https://www.coindesk.com/digital-marketplace-startup-completes-15-million-token-sale/
Listia announced Wednesday it had raised $15 million in an ICO and will launch its decentralized marketplace Ink Protocol next month.
https://www.coindesk.com/digital-marketplace-startup-completes-15-million-token-sale/
Listia announced Wednesday it had raised $15 million in an ICO and will launch its decentralized marketplace Ink Protocol next month.
Bitcoin Exchange Hit By Armed Robbers in Thwarted Theft
https://www.coindesk.com/canadian-bitcoin-exchange-hit-armed-robbers-police-say/
Canadian police are looking for two armed robbery suspects, having arrested one after an attempted heist at cryptocurrency exchange Canadian Bitcoins.
https://www.coindesk.com/canadian-bitcoin-exchange-hit-armed-robbers-police-say/
Canadian police are looking for two armed robbery suspects, having arrested one after an attempted heist at cryptocurrency exchange Canadian Bitcoins.
Audit Giant DNV GL Partners With Blockchain Startup to Track Assets
https://www.coindesk.com/audit-giant-dnv-gl-partners-with-vechain-to-launch-data-tracker-blockchain/
DNV GL and VeChain are teaming up to develop a blockchain to track arack all shipments.
https://www.coindesk.com/audit-giant-dnv-gl-partners-with-vechain-to-launch-data-tracker-blockchain/
DNV GL and VeChain are teaming up to develop a blockchain to track arack all shipments.
Ex-CFTC Commissioner Joins Crypto Exchange as Regulatory Adviser
https://www.coindesk.com/ex-cftc-commissioner-joins-crypto-exchange-as-regulatory-adviser/
Bart Chilton, the former CFTC commissioner, is now taking his regulatory expertise to decentralized cryptocurrency exchange Omega One.
https://www.coindesk.com/ex-cftc-commissioner-joins-crypto-exchange-as-regulatory-adviser/
Bart Chilton, the former CFTC commissioner, is now taking his regulatory expertise to decentralized cryptocurrency exchange Omega One.
Investors File Class Action Against BitConnect Following Abrupt Closure
https://www.coindesk.com/investors-file-class-action-against-bitconnect-following-abrupt-closure/
A class action suit has been filed against exchange and lending platform BitConnect, which recently closed following U.S. cease-and-desist orders.
https://www.coindesk.com/investors-file-class-action-against-bitconnect-following-abrupt-closure/
A class action suit has been filed against exchange and lending platform BitConnect, which recently closed following U.S. cease-and-desist orders.
Arsenal Football Club to Promote iGaming Firm ICO
https://www.coindesk.com/arsenal-football-club-signs-deal-to-promote-igaming-firms-ico/
iGaming platform provider CashBet has partnered with Arsenal Football Club in a deal that will promote the firm's new crypto token.
https://www.coindesk.com/arsenal-football-club-signs-deal-to-promote-igaming-firms-ico/
iGaming platform provider CashBet has partnered with Arsenal Football Club in a deal that will promote the firm's new crypto token.
SEC, CFTC Chiefs Eye Closer Scrutiny of US Cryptocurrency Industry
https://www.coindesk.com/sec-cftc-chiefs-eye-closer-scrutiny-of-us-cryptocurrency-industry/
Two U.S. financial regulators are increasing their commitment to bringing closer scrutiny to the cryptocurrency industry, according to their chiefs.
https://www.coindesk.com/sec-cftc-chiefs-eye-closer-scrutiny-of-us-cryptocurrency-industry/
Two U.S. financial regulators are increasing their commitment to bringing closer scrutiny to the cryptocurrency industry, according to their chiefs.
Bitcoin Bull Reversal Sighted, But Momentum Proves Weak
https://www.coindesk.com/bitcoin-bull-reversal-sighted-momentum-proves-weak/
Bitcoin bulls seem to have gained an upper hand, but the cryptocurrency is still struggling to find follow-through buying today. On Wednesday, CoinDesk's Bitcoin Price index (BPI) closed (as per UTC) 5.15 percent higher at $11,399. The positive close above $11,000 adds credence to the solid defense of the $10,000 mark seen earlier this week. […]
https://www.coindesk.com/bitcoin-bull-reversal-sighted-momentum-proves-weak/
Bitcoin bulls seem to have gained an upper hand, but the cryptocurrency is still struggling to find follow-through buying today. On Wednesday, CoinDesk's Bitcoin Price index (BPI) closed (as per UTC) 5.15 percent higher at $11,399. The positive close above $11,000 adds credence to the solid defense of the $10,000 mark seen earlier this week. […]
Former Ripple Exec Invests $57.5 Million in Digital Money Platform Uphold
https://www.coindesk.com/former-ripple-exec-invests-57-5-million-in-digital-money-platform-uphold/
Digital money platform Uphold has received a $57.5 million investment from former Federal Reserve analyst and Ripple chief risk officer Greg Kidd.
https://www.coindesk.com/former-ripple-exec-invests-57-5-million-in-digital-money-platform-uphold/
Digital money platform Uphold has received a $57.5 million investment from former Federal Reserve analyst and Ripple chief risk officer Greg Kidd.
Bitcoin Dev Jimmy Song Is Now at Blockchain Capital
https://www.coindesk.com/bitcoin-dev-jimmy-song-is-now-a-blockchain-capital-partner/
Blockchain Capital has announced that Jimmy Song, a bitcoin core developer, has joined the blockchain firm as a venture partner.
https://www.coindesk.com/bitcoin-dev-jimmy-song-is-now-a-blockchain-capital-partner/
Blockchain Capital has announced that Jimmy Song, a bitcoin core developer, has joined the blockchain firm as a venture partner.