Intel is Entering the #Blockchain Mining market with Upcoming Hardware Capable of Generating Bitcoin as DEX(Decentralized Exchanges) Bans 10 Countries.
Thoughts on the market on 12.02. 2022
Bitcoin has been declining for the last 24 hours. First, to the lower border of the trading range, then a correction to $41,700, it's now trading around $42,300.
Total Crypto Market capitalization: $1.89 Trillion,
BTC Dominance Index: 42.4%,
Fear index: 44.
Geopolitical tensions have been added to the reaction to inflation and the extraordinary meeting of the Fed, which is scheduled for Monday. The topic of Russia's imminent invasion of Ukraine seems to be getting inflated. Markets relatively calmly greeted the news of an extraordinary meeting of the Fed, but against the backdrop of reports of the evacuation of embassies, the closure of airspace and other horrors, resulted in a significant fall.
The Fed faces a problem that has no solution. On one hand, inflation of 7.3% (perhaps the figure is significantly underestimated) requires an increase. On the other hand, a debt of 30 Trillion. makes the rate hike too costly to service the debt. Lastly on the third hand, coming November, elections to the Senate and Congress. If against the backdrop of all the other failures, the stock market also collapses by this time, the Democrats will have little chance of maintaining the status quo. Quite a mouthful.
Bitcoin on such an external background behaves quite steadily. Support was lost at $42,700, but the correction towards $41,500 was quickly bought out on the way to 41700. On the thin weekend market, there may be a gap towards 38K, especially if Bloomberg throws up another creative narrative about Russian tanks that are already entering Kiev. Most likely option for Bitcoin to return to the 43-45K range no later than Tuesday.
An alternative option is Bitcoin leaving below $41,500 with consolidation. We will analyze further prospects in the event of its occurrence.
Lastly to some news, PancakeSwap (a decentralized platform) has announced the blocking of users from ten jurisdictions, starting March, access for users from: Iran, Belarus, Cuba, Democratic Republic of the Congo, Iraq, North Korea, Sudan, Syria, Zimbabwe and Crimea. Such #geofencing is common on centralized exchanges, but not as widely used on their decentralized counterparts. However, the reality is that some DEX platforms have also begun to restrict access to certain IP addresses. While such restrictions are often bypassed with VPNs, many companies manage to track the use of anonymizers. But what kind of decentralization can we talk about? some scam??
Intel to Enter Bitcoin Mining Market With Energy-Efficient Hardware. Their goal is to create the most energy-efficient blockchain-mining ASIC, with minimal impact on chip supplies. Intel is working with customers that share its environmental sustainability goals for blockchain technology. “Argo Blockchain, Block (formerly known as Square) and Griid Infrastructure are among the first customers for this upcoming product. This architecture is implemented on a tiny piece of silicon so that it has minimal impact on the supply of current products. Intel also emphasized the blockchain accelerator isn't a multi-purpose GPU, but an ASIC. The company's effort will likely shake up competition in the ASIC Bitcoin-mining industry when some of the largest providers, such as Bitmain, come from China. Intel’s first blockchain-accelerator hardware is slated to begin shipping later this year. In addition, the company says it’s preparing a roadmap of “energy-efficient accelerators.” The chipmaker plans on sharing more details at the ISSCC technology conference, which runs from Feb. 20-28.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
Thoughts on the market on 12.02. 2022
Bitcoin has been declining for the last 24 hours. First, to the lower border of the trading range, then a correction to $41,700, it's now trading around $42,300.
Total Crypto Market capitalization: $1.89 Trillion,
BTC Dominance Index: 42.4%,
Fear index: 44.
Geopolitical tensions have been added to the reaction to inflation and the extraordinary meeting of the Fed, which is scheduled for Monday. The topic of Russia's imminent invasion of Ukraine seems to be getting inflated. Markets relatively calmly greeted the news of an extraordinary meeting of the Fed, but against the backdrop of reports of the evacuation of embassies, the closure of airspace and other horrors, resulted in a significant fall.
The Fed faces a problem that has no solution. On one hand, inflation of 7.3% (perhaps the figure is significantly underestimated) requires an increase. On the other hand, a debt of 30 Trillion. makes the rate hike too costly to service the debt. Lastly on the third hand, coming November, elections to the Senate and Congress. If against the backdrop of all the other failures, the stock market also collapses by this time, the Democrats will have little chance of maintaining the status quo. Quite a mouthful.
Bitcoin on such an external background behaves quite steadily. Support was lost at $42,700, but the correction towards $41,500 was quickly bought out on the way to 41700. On the thin weekend market, there may be a gap towards 38K, especially if Bloomberg throws up another creative narrative about Russian tanks that are already entering Kiev. Most likely option for Bitcoin to return to the 43-45K range no later than Tuesday.
An alternative option is Bitcoin leaving below $41,500 with consolidation. We will analyze further prospects in the event of its occurrence.
Lastly to some news, PancakeSwap (a decentralized platform) has announced the blocking of users from ten jurisdictions, starting March, access for users from: Iran, Belarus, Cuba, Democratic Republic of the Congo, Iraq, North Korea, Sudan, Syria, Zimbabwe and Crimea. Such #geofencing is common on centralized exchanges, but not as widely used on their decentralized counterparts. However, the reality is that some DEX platforms have also begun to restrict access to certain IP addresses. While such restrictions are often bypassed with VPNs, many companies manage to track the use of anonymizers. But what kind of decentralization can we talk about? some scam??
Intel to Enter Bitcoin Mining Market With Energy-Efficient Hardware. Their goal is to create the most energy-efficient blockchain-mining ASIC, with minimal impact on chip supplies. Intel is working with customers that share its environmental sustainability goals for blockchain technology. “Argo Blockchain, Block (formerly known as Square) and Griid Infrastructure are among the first customers for this upcoming product. This architecture is implemented on a tiny piece of silicon so that it has minimal impact on the supply of current products. Intel also emphasized the blockchain accelerator isn't a multi-purpose GPU, but an ASIC. The company's effort will likely shake up competition in the ASIC Bitcoin-mining industry when some of the largest providers, such as Bitmain, come from China. Intel’s first blockchain-accelerator hardware is slated to begin shipping later this year. In addition, the company says it’s preparing a roadmap of “energy-efficient accelerators.” The chipmaker plans on sharing more details at the ISSCC technology conference, which runs from Feb. 20-28.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
SEC Slaps #BlockFi With $100 Million Fine, Russia Doesn’t Give 'S***' About Western Sanctions and South Korea Jails Seven Masterminds of Country's 'Largest Crypto Fraud Scheme'
The main events of the day today are an unscheduled meeting of the Fed, which was convened in connection with a record inflation for 40 years, and a meeting of the Council of the State the Russian Federation, where an appeal to recognize two regions of Ukraine. Western nations fear Moscow is preparing an invasion of Ukraine, having nearly surrounded its western neighbor with more than 100,000 troops. Biden Admin for its part is saying loudly that they think this could happen any day now, briefing Congress to say that they think Russia might be able to capture Kiev in as few as 3 days, and evacuating diplomatic personnel now to head-off any potential ugly news cycle about getting caught off guard again after Afghanistan. From an extreme, Russia's outspoken ambassador to Sweden Viktor Tatarintsev told a Swedish newspaper that Moscow "doesn't give a s***' about the threat of Western sanctions over the Ukraine crisis.
"Excuse my language, but we don't give a s*** about all their sanctions", Viktor Tatarintsev told the Aftonbladet newspaper in an interview posted on its website late Saturday.
It seems that the topic of coronavirus in the news agenda (and the agenda is formed by you-know-who) is now being replaced by the Russian threat. So far, the frenzy over the imminent Russian invasion has had an effect on British insurance companies, which have withdrawn guarantees for flights over to Ukraine. Markets have been pricing things like natural gas in Europe in parabolic fashion for months now. Also to a number of Ukrainian politicians and oligarchs, who, just in case, leave the country en masse.
A geopolitical factor has been added to the unsolvable task that the Fed faces (how to fight inflation at the same time, and serve a debt of 30 trillion, and not collapse the markets on the eve of the elections). It is quite possible that the final decision will pleasantly surprise the markets. Also, a détente of the situation around Ukraine (and sooner or later it will all end with this) can also become a positive for the market.
The S&P 500 futures are now showing a slight increase, oil is approaching 96, the dollar index is above 96. Bitcoin twice approached the resistance area at $42,700- $43,000 over the weekend, but could not overcome it and rolled back to support at 41500-41600. In case this support is lost, a drain towards $38,600- $38,200 is possible, further depending on the reaction to this level.
Consider movement of Bitcoin in the range of $41,500 - $43,000 as a priority option, with an alternative - correction to $38600 - $38200.
On to some news, #BlockFi will pay $100 million to close the issue with the SEC for running high yielding accounts that constituted unregistered securities. Lastly, Seven executives of the collapsed South Korean scam cryptocurrency exchange, V Global, were recently handed lengthy jail sentences as punishment for their role in running one of the country’s biggest crypto frauds, misappropriating nearly $1.9 billion in investors’ funds. Lee Byung-gul, who was the CEO of the entity when the funds went missing, was handed a 22-year jail term while his accomplices were given jail sentences that range between four and 14 years. one of the victims from the 52,419 investors that lost their funds has already committed suicide. While some of the investors did receive a portion of their funds, the report said a majority of the victims lost everything. Many of V Global’s victims were lured into the scam after they were promised guaranteed returns of more than 300% on every $5,000, or six million Korean won, that was invested. In addition to the “guaranteed” return, V Global investors that brought in new participants were promised a commission of $1,000. Source: news.bitcoin.com.
The main events of the day today are an unscheduled meeting of the Fed, which was convened in connection with a record inflation for 40 years, and a meeting of the Council of the State the Russian Federation, where an appeal to recognize two regions of Ukraine. Western nations fear Moscow is preparing an invasion of Ukraine, having nearly surrounded its western neighbor with more than 100,000 troops. Biden Admin for its part is saying loudly that they think this could happen any day now, briefing Congress to say that they think Russia might be able to capture Kiev in as few as 3 days, and evacuating diplomatic personnel now to head-off any potential ugly news cycle about getting caught off guard again after Afghanistan. From an extreme, Russia's outspoken ambassador to Sweden Viktor Tatarintsev told a Swedish newspaper that Moscow "doesn't give a s***' about the threat of Western sanctions over the Ukraine crisis.
"Excuse my language, but we don't give a s*** about all their sanctions", Viktor Tatarintsev told the Aftonbladet newspaper in an interview posted on its website late Saturday.
It seems that the topic of coronavirus in the news agenda (and the agenda is formed by you-know-who) is now being replaced by the Russian threat. So far, the frenzy over the imminent Russian invasion has had an effect on British insurance companies, which have withdrawn guarantees for flights over to Ukraine. Markets have been pricing things like natural gas in Europe in parabolic fashion for months now. Also to a number of Ukrainian politicians and oligarchs, who, just in case, leave the country en masse.
A geopolitical factor has been added to the unsolvable task that the Fed faces (how to fight inflation at the same time, and serve a debt of 30 trillion, and not collapse the markets on the eve of the elections). It is quite possible that the final decision will pleasantly surprise the markets. Also, a détente of the situation around Ukraine (and sooner or later it will all end with this) can also become a positive for the market.
The S&P 500 futures are now showing a slight increase, oil is approaching 96, the dollar index is above 96. Bitcoin twice approached the resistance area at $42,700- $43,000 over the weekend, but could not overcome it and rolled back to support at 41500-41600. In case this support is lost, a drain towards $38,600- $38,200 is possible, further depending on the reaction to this level.
Consider movement of Bitcoin in the range of $41,500 - $43,000 as a priority option, with an alternative - correction to $38600 - $38200.
On to some news, #BlockFi will pay $100 million to close the issue with the SEC for running high yielding accounts that constituted unregistered securities. Lastly, Seven executives of the collapsed South Korean scam cryptocurrency exchange, V Global, were recently handed lengthy jail sentences as punishment for their role in running one of the country’s biggest crypto frauds, misappropriating nearly $1.9 billion in investors’ funds. Lee Byung-gul, who was the CEO of the entity when the funds went missing, was handed a 22-year jail term while his accomplices were given jail sentences that range between four and 14 years. one of the victims from the 52,419 investors that lost their funds has already committed suicide. While some of the investors did receive a portion of their funds, the report said a majority of the victims lost everything. Many of V Global’s victims were lured into the scam after they were promised guaranteed returns of more than 300% on every $5,000, or six million Korean won, that was invested. In addition to the “guaranteed” return, V Global investors that brought in new participants were promised a commission of $1,000. Source: news.bitcoin.com.
I will close with these thoughts by a former Goldman Sachs Investment Banker On 19 Jan 2022: "If [Russia] invades, they’re going to pay; their banks will not be able to deal in dollars." -Pres. Biden. Last week Russia's government and Central Bank agreed to recognize Bitcoin and crypto assets as currencies. Coincidence? Is #Bitcoin already the new global reserve currency?
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
ECB Chief Lagarde Says Digital Euro Will Not Replace Cash — But Could Offer Convenient, Cost-Free Means of Payment.
The US State Department now recommends that US citizens immediately leave Belarus and Transnistria. The next date for the "Russian invasion of Ukraine" is scheduled for today or tomorrow. In the meantime the Fed left the rate unchanged until the next meeting, which will be held on March 16.
Bitcoin worked out our review for a return above $43K. For further growth, price needs to gain a foothold above $43,800. The priority option today is Bitcoin in the range of $42,800- $45,500. An alternative option is to return to the previous range of $42,800- $41,500.
Total Crypto Market capitalisation: $1.94 Trillion,
BTC Dominance Index: 42.5%,
Fear Index: 46.
The trending talk of this week is Kenya's discussion paper on the Digital Shilling or CBDC. Looking at what ECB President Christine Lagarde talked about the digital euro at the plenary session of the European Parliament Monday on the 20th anniversary, she said. “We will investigate how a digital euro could offer a convenient, cost-free means of payment, allowing people to pay anywhere in the euro area with risk-free digital money – for example, when making payments online, which preclude the use of cash,” the ECB chief continued, emphasising: In any event, a digital euro would complement cash, not replace it.
The ECB website details: “The digital euro would still be a euro: like banknotes but digital. It would be an electronic form of money issued by the Eurosystem (the ECB and national central banks) and accessible to all citizens and firms.” It adds: A digital euro would give you an additional choice about how to pay and make it easier to do so, contributing to accessibility and inclusion. Source:
Striking similarities on what I believe Kenya’s CBDC is aiming to replicate or model. In summary, some benefits associated with CBDC are 1) Efficient retail payments, 2) Overcome use of banknotes for illicit payment and store of value, 3) Strengthen monetary policy and lastly 4)Sovereign money related.
If you notice this has nothing to do with cryptocurrencies, just another fintech fallacy in the name of blockchain and crypto. Kenya is already steps ahead on digital payments, think of it as the Govt running a parallel mobile payments platform. That's what CBDC is.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
The US State Department now recommends that US citizens immediately leave Belarus and Transnistria. The next date for the "Russian invasion of Ukraine" is scheduled for today or tomorrow. In the meantime the Fed left the rate unchanged until the next meeting, which will be held on March 16.
Bitcoin worked out our review for a return above $43K. For further growth, price needs to gain a foothold above $43,800. The priority option today is Bitcoin in the range of $42,800- $45,500. An alternative option is to return to the previous range of $42,800- $41,500.
Total Crypto Market capitalisation: $1.94 Trillion,
BTC Dominance Index: 42.5%,
Fear Index: 46.
The trending talk of this week is Kenya's discussion paper on the Digital Shilling or CBDC. Looking at what ECB President Christine Lagarde talked about the digital euro at the plenary session of the European Parliament Monday on the 20th anniversary, she said. “We will investigate how a digital euro could offer a convenient, cost-free means of payment, allowing people to pay anywhere in the euro area with risk-free digital money – for example, when making payments online, which preclude the use of cash,” the ECB chief continued, emphasising: In any event, a digital euro would complement cash, not replace it.
The ECB website details: “The digital euro would still be a euro: like banknotes but digital. It would be an electronic form of money issued by the Eurosystem (the ECB and national central banks) and accessible to all citizens and firms.” It adds: A digital euro would give you an additional choice about how to pay and make it easier to do so, contributing to accessibility and inclusion. Source:
Striking similarities on what I believe Kenya’s CBDC is aiming to replicate or model. In summary, some benefits associated with CBDC are 1) Efficient retail payments, 2) Overcome use of banknotes for illicit payment and store of value, 3) Strengthen monetary policy and lastly 4)Sovereign money related.
If you notice this has nothing to do with cryptocurrencies, just another fintech fallacy in the name of blockchain and crypto. Kenya is already steps ahead on digital payments, think of it as the Govt running a parallel mobile payments platform. That's what CBDC is.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
“KEEP YOUR COINS ACT” Bill Introduced at US Congress! To protect Your right to self-custody #Bitcoin and transact #P2P.
Russia’s expected invasion of Ukraine as announced by the British “The Sun”, nor the expectations of the Fed's reaction to the rising inflation did not deter the markets from growing.
In Canada, a state of emergency is possible in response to the protests of truckers protesting against coronapsychosis. In addition, it was announced that the bank accounts of the protesters were going to be blocked. This will make many people think about whether the fiat in the banking system or better yet CBDC’s is your full-fledged property, or can it be considered as such very conditionally?
President of El Salvador Nahib Bukele took to twitter saying: The real war is not in Ukraine, it’s in Canada, Australia, France, Brussels, England, Germany, Italy...They just want you to look the other way. The “real war” is against vaccine mandates.
16 hours ago, U.S. Congressman @WarrenDavidson has introduced a bill that aims to protect the ability to act as a self-custodian and conduct peer-to-peer transactions by prohibiting any agency from impairing this right. The bill entitled “Keep Your Coins Act” comes in the wake of mounting concerns over crackdowns on civil liberties in Canada, as private companies and the Canadian government leverage control of the legacy financial system to disrupt ongoing protests over COVID-19 policies. If passed, the bill would prevent any agency head from prohibiting or otherwise restricting “the ability of a covered user to— (1) use virtual currency or its equivalent for such user’s own purposes, such as to purchase real or virtual goods and services for the user’s own use; or (2) conduct transactions through a self-hosted wallet.”
Bitcoin has worked out yesterday's analysis and has been holding above 43800 for more than 20 hours. For further growth, it is necessary to return the capitalisation above $2 Trillion, overcome the resistance area of $44,800- $45,600, and update price above $45,800.
I think today there will be attempts to do something of the above. Success will ensure growth towards $50K in the next 10 days, failure can return the main cryptocurrency below $42,800.
Belarus creates a "registry of addresses of virtual wallets used in illegal activities" It will be conducted by the High Technology Park. Obviously, the main goal is to trace those wallets through which the riots were financed in 2020, and to stop similar attempts in the future. Probably, drug stores' wallets will also be on the list.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
Russia’s expected invasion of Ukraine as announced by the British “The Sun”, nor the expectations of the Fed's reaction to the rising inflation did not deter the markets from growing.
In Canada, a state of emergency is possible in response to the protests of truckers protesting against coronapsychosis. In addition, it was announced that the bank accounts of the protesters were going to be blocked. This will make many people think about whether the fiat in the banking system or better yet CBDC’s is your full-fledged property, or can it be considered as such very conditionally?
President of El Salvador Nahib Bukele took to twitter saying: The real war is not in Ukraine, it’s in Canada, Australia, France, Brussels, England, Germany, Italy...They just want you to look the other way. The “real war” is against vaccine mandates.
16 hours ago, U.S. Congressman @WarrenDavidson has introduced a bill that aims to protect the ability to act as a self-custodian and conduct peer-to-peer transactions by prohibiting any agency from impairing this right. The bill entitled “Keep Your Coins Act” comes in the wake of mounting concerns over crackdowns on civil liberties in Canada, as private companies and the Canadian government leverage control of the legacy financial system to disrupt ongoing protests over COVID-19 policies. If passed, the bill would prevent any agency head from prohibiting or otherwise restricting “the ability of a covered user to— (1) use virtual currency or its equivalent for such user’s own purposes, such as to purchase real or virtual goods and services for the user’s own use; or (2) conduct transactions through a self-hosted wallet.”
Bitcoin has worked out yesterday's analysis and has been holding above 43800 for more than 20 hours. For further growth, it is necessary to return the capitalisation above $2 Trillion, overcome the resistance area of $44,800- $45,600, and update price above $45,800.
I think today there will be attempts to do something of the above. Success will ensure growth towards $50K in the next 10 days, failure can return the main cryptocurrency below $42,800.
Belarus creates a "registry of addresses of virtual wallets used in illegal activities" It will be conducted by the High Technology Park. Obviously, the main goal is to trace those wallets through which the riots were financed in 2020, and to stop similar attempts in the future. Probably, drug stores' wallets will also be on the list.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
Minutes show Fed ready to Raise Rates, Shrink Balance Sheet Soon, Master-card Expands Consulting with Practices Dedicated to Crypto and Warren Buffett Invests $1B in Bitcoin-friendly Neobank, dumps Visa and Mastercard Stocks.
Thoughts on the market on 17.02.2022
Bitcoin was in the range of $44,200- $43,300 during the day. Attempts to go above $44,200 did not lead to success, the correction to below $43,500 was also quickly bought out and at the time of writing this review, bitcoin is trading around $43,950 - in the same place as a day ago.
Crypto Market capitalisation $1.984 Trillion,
BTC Dominance index:42.0,
Fear index :52.
So just to be clear these FOMC minutes are from the January meeting. What the market wants to see is if they can get an idea of the Fed's line of thinking going into March. Basically to see if the Fed will be really hawkish...or more dovish. It will be very likely hawkish & those rate increases will definitely be aggressive. The minutes will reflect that. If you paid attention in December 2021, you likely saw that the market reacted negatively to the Fed minutes. I see no reason that won't occur this time as well, especially considering the latest CPI & PPI.
For today, price may remain in the range of $43,500- $44,800. An alternative option - going below $42,800, with a possible test of $41,500 - is less likely. Further growth requires a return of capitalisation above $2 Trillion, overcoming the resistance area of $44,800- $45,600, updating the previous highs from 10th February above $45,800. It looks like these are plans for the next 10 days.
Interestingly, Mastercard Expands Consulting with Practices Dedicated to Crypto, Open Banking and ESG. The business world is facing an influx of innovation: changing consumer preferences, rapid digital transformation and geopolitical shifts. To help businesses evolve and supercharge their growth enterprise-wide, Mastercard today announced that it is expanding its preeminent payments-focused consulting service with new practices dedicated to Open Banking, Open Data, Crypto & Digital Currencies, and Environment, Social & Governance (ESG).
In contrast, Warren Buffett's Berkshire Hathaway dumped a portion of its Visa and Mastercard holdings and increased exposure in Nubank, the largest fintech bank in Brazil that's also popular among the country's Bitcoin investors. In a securities filing late Feb. 14, the industrial conglomerate disclosed that it had purchased $1 billion worth of Nubank Class A stock in Q4/2021. On the other hand, it sold $1.8 billion and $1.3 billion worth of Visa and Mastercard stock, respectively, singling a shift away from credit companies to gain exposure in their fintech rivals. Source: Cointelegraph.
It's amazing how investors can change their minds when they are wrong. Talk about money being indifferent.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
Thoughts on the market on 17.02.2022
Bitcoin was in the range of $44,200- $43,300 during the day. Attempts to go above $44,200 did not lead to success, the correction to below $43,500 was also quickly bought out and at the time of writing this review, bitcoin is trading around $43,950 - in the same place as a day ago.
Crypto Market capitalisation $1.984 Trillion,
BTC Dominance index:42.0,
Fear index :52.
So just to be clear these FOMC minutes are from the January meeting. What the market wants to see is if they can get an idea of the Fed's line of thinking going into March. Basically to see if the Fed will be really hawkish...or more dovish. It will be very likely hawkish & those rate increases will definitely be aggressive. The minutes will reflect that. If you paid attention in December 2021, you likely saw that the market reacted negatively to the Fed minutes. I see no reason that won't occur this time as well, especially considering the latest CPI & PPI.
For today, price may remain in the range of $43,500- $44,800. An alternative option - going below $42,800, with a possible test of $41,500 - is less likely. Further growth requires a return of capitalisation above $2 Trillion, overcoming the resistance area of $44,800- $45,600, updating the previous highs from 10th February above $45,800. It looks like these are plans for the next 10 days.
Interestingly, Mastercard Expands Consulting with Practices Dedicated to Crypto, Open Banking and ESG. The business world is facing an influx of innovation: changing consumer preferences, rapid digital transformation and geopolitical shifts. To help businesses evolve and supercharge their growth enterprise-wide, Mastercard today announced that it is expanding its preeminent payments-focused consulting service with new practices dedicated to Open Banking, Open Data, Crypto & Digital Currencies, and Environment, Social & Governance (ESG).
In contrast, Warren Buffett's Berkshire Hathaway dumped a portion of its Visa and Mastercard holdings and increased exposure in Nubank, the largest fintech bank in Brazil that's also popular among the country's Bitcoin investors. In a securities filing late Feb. 14, the industrial conglomerate disclosed that it had purchased $1 billion worth of Nubank Class A stock in Q4/2021. On the other hand, it sold $1.8 billion and $1.3 billion worth of Visa and Mastercard stock, respectively, singling a shift away from credit companies to gain exposure in their fintech rivals. Source: Cointelegraph.
It's amazing how investors can change their minds when they are wrong. Talk about money being indifferent.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
Register in advance for this event.
https://www.eventbrite.com/e/traditional-investments-vs-crypto-assets-investments-tickets-269566399357
Lots of goodies and giveaways..
https://www.eventbrite.com/e/traditional-investments-vs-crypto-assets-investments-tickets-269566399357
Lots of goodies and giveaways..
Eventbrite
Traditional Investments Vs Crypto Assets Investments
In this masterclass, We are taking a deep dive to distinguish between Traditional Investment Vehicles vis a vis Crypto Assets Investing.
Study: 68% of Americans Aware of Risks Involved With Cryptocurrencies.
Bitcoin has been on a decline, support at $41,500 did not resist, the main cryptocurrency set a local minimum around 40,088, at the time of writing this review, it is trading around $40,640
Market capitalisation $1.854 Trillion,
BTC Dominance Index: 41.7%,
Fear index 30.
Markets were pulled down by a combination of two factors. Firstly, the realisation that this time the Fed will turn on the money faucet and raise rates after a long and almost recoilless market growth, which can lead to its protracted fall.
Secondly, geopolitics pressed the markets yesterday. US Secretary of State, Blinken announced the imminent Russian invasion of Ukraine, using a chemical attack as a pretext, and the subsequent capture of Kiev, and the British Department of Defence published a map of this invasion. Biden also joined the topic, stating the high probability of such a development of events.
Markets are irrational, and wonder what to do with the unsuccessful announcement of the previous "invasions" two days ago. Why hasn't the invasion happened, when will it happen?
Bitcoin in its fall somewhat surpassed the alternative option from yesterday's review. Support at $41,500 did not resist, the reaction to the level, which we spoke about, turned out to be negative, price reached the lows of February 4, after which there was a rebound to 40500-40700, and stabilisation at these levels. The fear index, after a short stay in the neutral zone, returned to values that show that the market is dominated by fear and uncertainty.
What will happen next? A return above $41,500 is still a priority option. If this does not happen within the next 6-8 hours, the option of descending towards 38200 becomes a priority. Does this change anything in the medium term for Bitcoin? Important dates for BTC and performance as we had shared here: https://t.me/decryptedge/952
21 Jan (price breakdown to $40k after 13 Days of holding above it) dumped by -15%
3 Feb was a price action day, followed by + 12% pump next day on 4 Feb!
13 Feb was price action day then BTC pumped by +7% a day later.
We shared this dates above since 12 Jan 2022 , Next dates: 21 Feb, 3 Mar
17 Mar (FOMC Day) and 21 Mar
Lastly, nearly seven out of ten surveyed Americans said they were aware of risks that are associated with cryptocurrencies, a new study by Nordvpn has found. However, about 32% of the respondents said they were not aware of any risks. Despite being knowledgeable about cryptocurrencies, the surveyed Americans still expressed their uneasiness over the prospect of these digital currencies “becoming the standard for online purchases.” Source: news.bitcoin.com
Ps: These dates do not tell you to buy or sell, but you can use it in your TA as a time factor for patterns, trends, etc. This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Bitcoin has been on a decline, support at $41,500 did not resist, the main cryptocurrency set a local minimum around 40,088, at the time of writing this review, it is trading around $40,640
Market capitalisation $1.854 Trillion,
BTC Dominance Index: 41.7%,
Fear index 30.
Markets were pulled down by a combination of two factors. Firstly, the realisation that this time the Fed will turn on the money faucet and raise rates after a long and almost recoilless market growth, which can lead to its protracted fall.
Secondly, geopolitics pressed the markets yesterday. US Secretary of State, Blinken announced the imminent Russian invasion of Ukraine, using a chemical attack as a pretext, and the subsequent capture of Kiev, and the British Department of Defence published a map of this invasion. Biden also joined the topic, stating the high probability of such a development of events.
Markets are irrational, and wonder what to do with the unsuccessful announcement of the previous "invasions" two days ago. Why hasn't the invasion happened, when will it happen?
Bitcoin in its fall somewhat surpassed the alternative option from yesterday's review. Support at $41,500 did not resist, the reaction to the level, which we spoke about, turned out to be negative, price reached the lows of February 4, after which there was a rebound to 40500-40700, and stabilisation at these levels. The fear index, after a short stay in the neutral zone, returned to values that show that the market is dominated by fear and uncertainty.
What will happen next? A return above $41,500 is still a priority option. If this does not happen within the next 6-8 hours, the option of descending towards 38200 becomes a priority. Does this change anything in the medium term for Bitcoin? Important dates for BTC and performance as we had shared here: https://t.me/decryptedge/952
21 Jan (price breakdown to $40k after 13 Days of holding above it) dumped by -15%
3 Feb was a price action day, followed by + 12% pump next day on 4 Feb!
13 Feb was price action day then BTC pumped by +7% a day later.
We shared this dates above since 12 Jan 2022 , Next dates: 21 Feb, 3 Mar
17 Mar (FOMC Day) and 21 Mar
Lastly, nearly seven out of ten surveyed Americans said they were aware of risks that are associated with cryptocurrencies, a new study by Nordvpn has found. However, about 32% of the respondents said they were not aware of any risks. Despite being knowledgeable about cryptocurrencies, the surveyed Americans still expressed their uneasiness over the prospect of these digital currencies “becoming the standard for online purchases.” Source: news.bitcoin.com
Ps: These dates do not tell you to buy or sell, but you can use it in your TA as a time factor for patterns, trends, etc. This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
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Most participants in the crypto market expect a rise in the value of crypto assets. The rationale for such a positive expectation is contrary to the background news that the Fed will raise rates. Resulting in the stock market fall and Bitcoin has a correlation…
California No. 1 Most ‘Crypto-Ready’ State.
California is considering adopting Bitcoin as a means of payment for public services. A Bill Introduced by Senator Kamlager on February 18, 2022 titled: The State agencies: cryptocurrency. The bill states that existing law establishes state agencies for various purposes, including to provide certain services to the public for which payment is required.
The bill would authorise a state agency to accept cryptocurrency as a method of payment for the provision of government services. It was voted on and enacted that California may accept cryptocurrency as a method of payment for the provision of government services. This bill was voted on and passed. For clarification this does not make #Bitcoin legal tender but just a provision medium that potentially allows people to pay tax in crypto. One thing for sure though, it makes California the No. 1 Most ‘Crypto-Ready’ State and one the road to making bitcoin legal tender, at-least.
Bitcoin again updated a low of $37,900 over the weekend, then during yesterday's session it consolidated around 38200-38300, after which it returned above $39K and is now trading around $39,100.
Total Crypto Market Capitalisation $1.778 Trillion,
BTC Dominance index 41.7%,
Fear index 25..
The news about the imminent meeting between Blinken and Lavrov, and possibly Putin and Biden, brought some positivity to the markets. The main factor that will affect the markets this week is the situation around the unrecognised republics of Donbass, and the imminent Russian "invasion" of Ukraine.
A probable scenario of the week in the stock markets is growth on the realisation that the expected horrors will not happen. The main thing is that there should be no large-scale provocation that can make the situation truly unpredictable. There is no trading on the American market today, so the impact of this factor on the crypto market will be less significant.
Over the weekend, the price of Bitcoin worked out of the zone of stops and liquidations of margin positions, and some impressionable participants again fear and expect a crypto-winter on the market. In the case of an unfavourable external background, will confirm our bearish bias to $32K/23K(https://t.me/decryptedge/952) . The combination of geopolitics, possible negative from the Fed, and even the expected attempts to regulate cryptocurrencies from Biden (expected this week), can really bring down the market. Talk about expectations not aligned.
For today, the priority option is a return to the range of $39-41K or alternative - local lows in the range of $36,800- $35,500
California is considering adopting Bitcoin as a means of payment for public services. A Bill Introduced by Senator Kamlager on February 18, 2022 titled: The State agencies: cryptocurrency. The bill states that existing law establishes state agencies for various purposes, including to provide certain services to the public for which payment is required.
The bill would authorise a state agency to accept cryptocurrency as a method of payment for the provision of government services. It was voted on and enacted that California may accept cryptocurrency as a method of payment for the provision of government services. This bill was voted on and passed. For clarification this does not make #Bitcoin legal tender but just a provision medium that potentially allows people to pay tax in crypto. One thing for sure though, it makes California the No. 1 Most ‘Crypto-Ready’ State and one the road to making bitcoin legal tender, at-least.
Bitcoin again updated a low of $37,900 over the weekend, then during yesterday's session it consolidated around 38200-38300, after which it returned above $39K and is now trading around $39,100.
Total Crypto Market Capitalisation $1.778 Trillion,
BTC Dominance index 41.7%,
Fear index 25..
The news about the imminent meeting between Blinken and Lavrov, and possibly Putin and Biden, brought some positivity to the markets. The main factor that will affect the markets this week is the situation around the unrecognised republics of Donbass, and the imminent Russian "invasion" of Ukraine.
A probable scenario of the week in the stock markets is growth on the realisation that the expected horrors will not happen. The main thing is that there should be no large-scale provocation that can make the situation truly unpredictable. There is no trading on the American market today, so the impact of this factor on the crypto market will be less significant.
Over the weekend, the price of Bitcoin worked out of the zone of stops and liquidations of margin positions, and some impressionable participants again fear and expect a crypto-winter on the market. In the case of an unfavourable external background, will confirm our bearish bias to $32K/23K(https://t.me/decryptedge/952) . The combination of geopolitics, possible negative from the Fed, and even the expected attempts to regulate cryptocurrencies from Biden (expected this week), can really bring down the market. Talk about expectations not aligned.
For today, the priority option is a return to the range of $39-41K or alternative - local lows in the range of $36,800- $35,500
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Most participants in the crypto market expect a rise in the value of crypto assets. The rationale for such a positive expectation is contrary to the background news that the Fed will raise rates. Resulting in the stock market fall and Bitcoin has a correlation…
Bitcoin again updated lows around $36,340 during the day, after which there was a rebound to $36,500- $36,600, where it is trading at the time of writing this review.
Total Crypto Market capitalization $1.646 Trillion,
BTC Dominance index 42.1%,
Fear index 20.
Stock markets are under pressure from geopolitics. Indices are falling, oil, gold, silver, platinum are selectively growing. Gold reached levels where it has not been since 2020, oil also updated local highs, then corrected slightly. This is with the background of Russia recognizing the republics of Donbass, concluded agreements on friendship, cooperation and mutual assistance.
It is now unlikely that the Ukrainian authorities will consider it a good idea to attack Russian units of the regular army, especially after Biden directly told Zelensky to resolve the issue exclusively through diplomacy. Russia recognized the republics of Donbass within the borders actually established now (along the demarcation line), and not within the historical borders, as recommended by the Security Council, i.e. there will be no offensive from Russia.
There will be statements from the West, concerns and sanctions. Perhaps Ukraine will be given money and support (most likely, moral). The tension in the Donbass will now subside, because one side (Ukraine) does not have the ability to change the status quo, and the other (Russia) does not have such intentions.
With that the stock markets may stop falling today, and possibly move to growth.The bottom of the S&P 500 at 4100-4200. Futures on the S&P 500 are stabilizing after falling, the dollar index is about 96.180.
Bitcoin held up well in the morning yesterday, went above $39K and confidently worked out the priority option from yesterday's review.
Some negative sentiments from some famous people (Buterin and Du Jun, co-owner of the Hyobi exchange), who announced the imminent onset of a long bear market. Nassim Taleb also appeared on the stage again. The one who called bitcoin owners idiots back in the summer of 2020. Elon Musk will be on the scene soon. Such bearish comments are hardly welcome at this point in time. Never project your bias against the market or to fit a narrative. We called the bear market 3 months ago.
For today, the priority option for Bitcoin is movement in the range of $35,800- $38,800.
An alternative option is a correction to $33800 - $32800 which should not come as a surprise.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
Total Crypto Market capitalization $1.646 Trillion,
BTC Dominance index 42.1%,
Fear index 20.
Stock markets are under pressure from geopolitics. Indices are falling, oil, gold, silver, platinum are selectively growing. Gold reached levels where it has not been since 2020, oil also updated local highs, then corrected slightly. This is with the background of Russia recognizing the republics of Donbass, concluded agreements on friendship, cooperation and mutual assistance.
It is now unlikely that the Ukrainian authorities will consider it a good idea to attack Russian units of the regular army, especially after Biden directly told Zelensky to resolve the issue exclusively through diplomacy. Russia recognized the republics of Donbass within the borders actually established now (along the demarcation line), and not within the historical borders, as recommended by the Security Council, i.e. there will be no offensive from Russia.
There will be statements from the West, concerns and sanctions. Perhaps Ukraine will be given money and support (most likely, moral). The tension in the Donbass will now subside, because one side (Ukraine) does not have the ability to change the status quo, and the other (Russia) does not have such intentions.
With that the stock markets may stop falling today, and possibly move to growth.The bottom of the S&P 500 at 4100-4200. Futures on the S&P 500 are stabilizing after falling, the dollar index is about 96.180.
Bitcoin held up well in the morning yesterday, went above $39K and confidently worked out the priority option from yesterday's review.
Some negative sentiments from some famous people (Buterin and Du Jun, co-owner of the Hyobi exchange), who announced the imminent onset of a long bear market. Nassim Taleb also appeared on the stage again. The one who called bitcoin owners idiots back in the summer of 2020. Elon Musk will be on the scene soon. Such bearish comments are hardly welcome at this point in time. Never project your bias against the market or to fit a narrative. We called the bear market 3 months ago.
For today, the priority option for Bitcoin is movement in the range of $35,800- $38,800.
An alternative option is a correction to $33800 - $32800 which should not come as a surprise.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
Russia’s Finance Ministry Submits Bill to Legalise Crypto Investments, Ban Payments
Thoughts on the market on 23.02.2022
Bitcoin did not update its local lows during the day but 2 attempts to go above $38K which has since succeeded and is currently trading at $38,068.
Total Crypto Market capitalisation $1.707 Trillion,
BTC Dominance index: 41.9%,
Fear index 25.
Dollar Index near 96.
Bitcoin worked out the priority option from yesterday’s review, for today I see the range $36,200- $38,500 as a priority option for today. Alternative - is a renewal of local lows around 35500-35000, further depends on the reaction to this level.
At the height of Russia geopolitics and looming sanctions, The Ministry of Finance of the Russian Federation has presented to the federal government in Moscow legislation tailored to fill the regulatory gaps in the country’s crypto space, remaining after last year’s enforcement of the law “On Digital Financial Assets.” The Treasury Department and the Central Bank of Russia (CBR) were tasked by the government to develop the new legal framework together. However, as the two institutions have supported opposing approaches, last week the ministry suggested the adoption of two laws to regulate the crypto market while media reports revealed the monetary authority had been working on its own bills to implement its proposal for a wide-ranging ban on crypto activities.
Under the new law, the use of cryptocurrencies as a means of payment will remain prohibited, one of the few common positions with the CBR, and they will be regarded mainly as an investment tool. The ministry confirmed it had received Bank of Russia’s legislative amendments, noting that those which don’t contradict its approach will be considered.
There’s more than what meets the eye, I talked about it here(https://t.me/decryptedge/1004)
Russia is going on the offence, not afraid to step into crypto space. Lastly the case for bitcoin as a sort of "Digital gold" has broken down as more institutional investors have started to trade it, and cryptocurrency is becoming more closely aligned with fluctuations in traditional markets like equities.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
Thoughts on the market on 23.02.2022
Bitcoin did not update its local lows during the day but 2 attempts to go above $38K which has since succeeded and is currently trading at $38,068.
Total Crypto Market capitalisation $1.707 Trillion,
BTC Dominance index: 41.9%,
Fear index 25.
Dollar Index near 96.
Bitcoin worked out the priority option from yesterday’s review, for today I see the range $36,200- $38,500 as a priority option for today. Alternative - is a renewal of local lows around 35500-35000, further depends on the reaction to this level.
At the height of Russia geopolitics and looming sanctions, The Ministry of Finance of the Russian Federation has presented to the federal government in Moscow legislation tailored to fill the regulatory gaps in the country’s crypto space, remaining after last year’s enforcement of the law “On Digital Financial Assets.” The Treasury Department and the Central Bank of Russia (CBR) were tasked by the government to develop the new legal framework together. However, as the two institutions have supported opposing approaches, last week the ministry suggested the adoption of two laws to regulate the crypto market while media reports revealed the monetary authority had been working on its own bills to implement its proposal for a wide-ranging ban on crypto activities.
Under the new law, the use of cryptocurrencies as a means of payment will remain prohibited, one of the few common positions with the CBR, and they will be regarded mainly as an investment tool. The ministry confirmed it had received Bank of Russia’s legislative amendments, noting that those which don’t contradict its approach will be considered.
There’s more than what meets the eye, I talked about it here(https://t.me/decryptedge/1004)
Russia is going on the offence, not afraid to step into crypto space. Lastly the case for bitcoin as a sort of "Digital gold" has broken down as more institutional investors have started to trade it, and cryptocurrency is becoming more closely aligned with fluctuations in traditional markets like equities.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
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I will close with these thoughts by a former Goldman Sachs Investment Banker On 19 Jan 2022: "If [Russia] invades, they’re going to pay; their banks will not be able to deal in dollars." -Pres. Biden. Last week Russia's government and Central Bank agreed…
Bitcoin Price Nosedives After Putin Declares War on Ukraine.
Thoughts on the Crypto-market on 24.02.2022
Bitcoin showed a good short lived growth yesterday, not only worked out the priority option, but also left the upward range, reaching local highs above $39,200. Before the geopolitical factor turned on again, Bitcoin went below $35K and is now trading around $34,700- $34800.
Total Crypto Market capitalisation: $1.586 Trillion,
BTC dominance index 41.7%,
Fear index 23.
Stock markets too fell yesterday, US indices sank about 2% on average, S&P 500 closed at 4225. So far, everyone has forgotten about inflation and the Fed, and they don’t remember about the coronavirus at all. Markets are now driven by news from Ukraine, so today they will obviously look for the bottom. We talked about a bottom for the S&P500 in the area of 4100-4000, in case of a strong aggravation of the situation may see it at 3800.
On the Russian market, the fall will be stronger, as, most likely, new sanctions will be included. These sanctions are unlikely to affect energy resources and how to pay for them, since oil today is clearly aimed at reaching the 100 mark. Scores of people are now exiting the city of Kiev, there are many kilometers of traffic jams are leaving the city, via @The Insider reports.
I like what Economist Jason Furman, a former advisor to President Barack Obama, said this week, “Russia is incredibly unimportant in the global economy except for oil and gas. It’s basically a big gas station.” With supply chains already stretched thin and inflation on the rise globally, an energy shortage will only add to the worries of businesses and consumers alike. Although Bitcoin is often touted as a hedge against inflation and economic certainties, it's introduction to traditional finance means that its price movements are increasingly correlated to stock markets. Lest we forget Bitcoin has lost almost half its value since its November high of $68,990.
Bitcoin, even against such a background, did not reach the lows of January this year and is now trying to return above $35K. If this attempt is successful and the Bitcoin returns to the previous range of $36,500- $38,800, then a return above $40K is a matter of a few days. But not with the current background of news.
In this case, we expect a bias of Bitcoin below $35K, and an update of the January lows, a test of the $30- $32K zone. We talked about it here(https://t.me/decryptedge/1016).
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy: decrypt.co
Thoughts on the Crypto-market on 24.02.2022
Bitcoin showed a good short lived growth yesterday, not only worked out the priority option, but also left the upward range, reaching local highs above $39,200. Before the geopolitical factor turned on again, Bitcoin went below $35K and is now trading around $34,700- $34800.
Total Crypto Market capitalisation: $1.586 Trillion,
BTC dominance index 41.7%,
Fear index 23.
Stock markets too fell yesterday, US indices sank about 2% on average, S&P 500 closed at 4225. So far, everyone has forgotten about inflation and the Fed, and they don’t remember about the coronavirus at all. Markets are now driven by news from Ukraine, so today they will obviously look for the bottom. We talked about a bottom for the S&P500 in the area of 4100-4000, in case of a strong aggravation of the situation may see it at 3800.
On the Russian market, the fall will be stronger, as, most likely, new sanctions will be included. These sanctions are unlikely to affect energy resources and how to pay for them, since oil today is clearly aimed at reaching the 100 mark. Scores of people are now exiting the city of Kiev, there are many kilometers of traffic jams are leaving the city, via @The Insider reports.
I like what Economist Jason Furman, a former advisor to President Barack Obama, said this week, “Russia is incredibly unimportant in the global economy except for oil and gas. It’s basically a big gas station.” With supply chains already stretched thin and inflation on the rise globally, an energy shortage will only add to the worries of businesses and consumers alike. Although Bitcoin is often touted as a hedge against inflation and economic certainties, it's introduction to traditional finance means that its price movements are increasingly correlated to stock markets. Lest we forget Bitcoin has lost almost half its value since its November high of $68,990.
Bitcoin, even against such a background, did not reach the lows of January this year and is now trying to return above $35K. If this attempt is successful and the Bitcoin returns to the previous range of $36,500- $38,800, then a return above $40K is a matter of a few days. But not with the current background of news.
In this case, we expect a bias of Bitcoin below $35K, and an update of the January lows, a test of the $30- $32K zone. We talked about it here(https://t.me/decryptedge/1016).
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy: decrypt.co
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California No. 1 Most ‘Crypto-Ready’ State.
California is considering adopting Bitcoin as a means of payment for public services. A Bill Introduced by Senator Kamlager on February 18, 2022 titled: The State agencies: cryptocurrency. The bill states that…
California is considering adopting Bitcoin as a means of payment for public services. A Bill Introduced by Senator Kamlager on February 18, 2022 titled: The State agencies: cryptocurrency. The bill states that…