Thoughts on the market as of 03. 12. 2020: #Visa Partners With #Ethereum #Digital-Dollar Startup That Raised $271 Million
Yesterday morning, #Bitcoin tested support at $18400, after which it consolidated in the trading range 18800-19300, where it is trading as of writing this review. Total Crypto-Market capitalization is at $566 billion and #BTC dominance index of 62.3%.
Equities are still positive, the S&P 500 closed at 3669, showing a slight increase, the Dow Jones did the same, and the Nasdaq fell marginally.
The vaccine from #Pfizer has been approved in the UK and an order has already been made for 20 million people, but the markets have already worked out the topic with the vaccine. Gold is confidently recovering and already at 1830, oil rose slightly in anticipation of the OPEC meeting, the dollar index again renewed its lows and is already below 91.
The crypto market is calm after a stormy November. After reaching highs above 19950 1.12, Bitcoin found support at 18400, and for the last 24 hours it has been consolidating in a narrow range of 18800-19300. For the last 8 hours, all corrections below $19,000 have been quickly redeemed, which, combined with the falling dollar index and the general market picture, indicates a high probability of an upward exit.
#Altcoins are still practically in place, the market is waiting for a denouement on Bitcoin. I think that the time for altcoins will come on the weekend, although the TOP may start today or tomorrow.
Bitcoin's exit from the 19300-18800 range will determine its movement in the next few days. Going up - an attempt to take 20K. Exit down - a transition to flat from 1800-17800 to 19300. If Bitcoin does not go anywhere and remains in the current range and today - the growth of alts. Updating the ATH before the New Year is still a priority. Not the fact that we will be able to gain a foothold right away, but there will be an attempt.
Interestingly, remember back we gave the example of PayPal leading other large companies to the crypto market, primarily VISA and Mastercard. Today's title is clear. Credit card giant #Visa today announced it is connecting its global payments network of 60 million merchants to the U.S. Dollar Coin (USDC) developed by Circle Internet Financial on the #Ethereum #blockchain. The digital currency is now valued at $2.9 billion. While Visa itself won’t custody the digital currency, effective immediately, the partnership will see Circle working with Visa to help select Visa credit card issuers start integrating the USDC software into their platforms and send and receive USDC payments. Circle itself is also going through the same Fast Track program. In turn, businesses will eventually be able to send international USDC payments to any business supported by Visa, and after those funds are converted to the national currency, spend them anywhere that accepts Visa.
Source | Forbes.
This is not yet a direct sale of Bitcoin from cards, but it is quite close to it. By the way, the topic went well for PayPal - about 60% of all customers of the payment system are going to use the service for buying crypto. Qualitative sampling to understand the growing interest in Bitcoin from those who do not already have it (because those who already have it will not buy it this way). Hope that makes sense.
As always, have a blessed day ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge.
Yesterday morning, #Bitcoin tested support at $18400, after which it consolidated in the trading range 18800-19300, where it is trading as of writing this review. Total Crypto-Market capitalization is at $566 billion and #BTC dominance index of 62.3%.
Equities are still positive, the S&P 500 closed at 3669, showing a slight increase, the Dow Jones did the same, and the Nasdaq fell marginally.
The vaccine from #Pfizer has been approved in the UK and an order has already been made for 20 million people, but the markets have already worked out the topic with the vaccine. Gold is confidently recovering and already at 1830, oil rose slightly in anticipation of the OPEC meeting, the dollar index again renewed its lows and is already below 91.
The crypto market is calm after a stormy November. After reaching highs above 19950 1.12, Bitcoin found support at 18400, and for the last 24 hours it has been consolidating in a narrow range of 18800-19300. For the last 8 hours, all corrections below $19,000 have been quickly redeemed, which, combined with the falling dollar index and the general market picture, indicates a high probability of an upward exit.
#Altcoins are still practically in place, the market is waiting for a denouement on Bitcoin. I think that the time for altcoins will come on the weekend, although the TOP may start today or tomorrow.
Bitcoin's exit from the 19300-18800 range will determine its movement in the next few days. Going up - an attempt to take 20K. Exit down - a transition to flat from 1800-17800 to 19300. If Bitcoin does not go anywhere and remains in the current range and today - the growth of alts. Updating the ATH before the New Year is still a priority. Not the fact that we will be able to gain a foothold right away, but there will be an attempt.
Interestingly, remember back we gave the example of PayPal leading other large companies to the crypto market, primarily VISA and Mastercard. Today's title is clear. Credit card giant #Visa today announced it is connecting its global payments network of 60 million merchants to the U.S. Dollar Coin (USDC) developed by Circle Internet Financial on the #Ethereum #blockchain. The digital currency is now valued at $2.9 billion. While Visa itself won’t custody the digital currency, effective immediately, the partnership will see Circle working with Visa to help select Visa credit card issuers start integrating the USDC software into their platforms and send and receive USDC payments. Circle itself is also going through the same Fast Track program. In turn, businesses will eventually be able to send international USDC payments to any business supported by Visa, and after those funds are converted to the national currency, spend them anywhere that accepts Visa.
Source | Forbes.
This is not yet a direct sale of Bitcoin from cards, but it is quite close to it. By the way, the topic went well for PayPal - about 60% of all customers of the payment system are going to use the service for buying crypto. Qualitative sampling to understand the growing interest in Bitcoin from those who do not already have it (because those who already have it will not buy it this way). Hope that makes sense.
As always, have a blessed day ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge.
Thoughts on the market for 04.12.2020: #US lawmakers seek to make #Stablecoins illegal without federal approval.
#Bitcoin continued its upward movement, moving into the 19300-19500 trading range, where it is currently being traded. Total Crypto-Market capitalization is at $576 billion and #BTC dominance index of 62.3%.
Stock markets were up yesterday. #US indices added 0.73% to 0.53%, S&P 500 closed at 3666.72, Dow Jones updated ATH. The support package got a chance to be quickly accepted. House Speaker Pelosi and Senate Democratic Leader Sumer agreed on a $ 908 billion support package.
#Oil is growing, despite the #OPEC decision to reduce restrictions on production from January 2021, #gold is also growing and is approaching 1850, the dollar index continues to fall and is already below 90.7.
Bitcoin exited the 18800-19300 range yesterday, moving one floor higher in the 19300-19500 range. An attempt to move further on the move ended just above 19600. Bitcoin rebounded to 19300, after which all attempts to move to 19500 were unsuccessful. The volumes are falling, the pressure on the price is growing, Bitcoin is pressed to 19300, the picture looks like preparation for a downward movement. I think this is a reindeer shorts breeding. We will take ATH on these shorts.
Seriously though, 20K is just a psychological level. And if in 2017 Bitcoin reached it on the hype and FOMO of the crowd, now it is a purposeful, systematic upward movement.
It is quite reasonable - since 2017, the dollars have become about 13-15 trillion more, and the amount of Bitcoin is only decreasing. If the stock indices in the falling economy in 2020 updated their ATH several times, then it is quite logical for Bitcoin to do the same.
Perhaps today we will return to the previous range of 18800-19300, or even come back to the support at 18400-18500. This option is possible if they inflate the FUD about the regulation of #stablecoins in the United States, this is exactly the #FUD we are talking about. The details as reported by #Cointelegraph writes a new bill introduced to Congress seeks to control the entire #stablecoin industry by requiring all related activities to obtain federal approval first. This bill could enforce blanket regulation on all stablecoins. If passed, any service provided in relation to these types of cryptocurrencies would become illegal without first receiving approval by multiple government bodies: “It shall be unlawful for any person to issue a stablecoin or stablecoin-related product, to provide any stablecoin-related service, or otherwise engage in any stablecoin-related commercial activity, including activity involving stablecoins issued by other persons, without obtaining written approval in advance, and on an ongoing basis, from the appropriate Federal banking agency, the Corporation, and the Board of Governors of the Federal Reserve System.”
This bill was submitted on November 19, and the topic is being inflated right now. If we assume that right now in the US everyone(banks and crypto exchanges) will give up and begin to adopt this law, and apply it to existing stablecoins; although the law has no retroactive effect, in this case most of the funds from the same #USDT will simply go to #Bitcoin. Am sure you understand how this will affect its course.
Today we expect #Bitcoin to move in the 18800-19500 range. If we leave for the weekend with Bitcoin above 19K, there is a chance for a local altseason and taking an important level of capitalization of 600 billion. In case of consolidation below 18800, all this is postponed for 7-10 days.
As always, have a blessed day ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge.
#Bitcoin continued its upward movement, moving into the 19300-19500 trading range, where it is currently being traded. Total Crypto-Market capitalization is at $576 billion and #BTC dominance index of 62.3%.
Stock markets were up yesterday. #US indices added 0.73% to 0.53%, S&P 500 closed at 3666.72, Dow Jones updated ATH. The support package got a chance to be quickly accepted. House Speaker Pelosi and Senate Democratic Leader Sumer agreed on a $ 908 billion support package.
#Oil is growing, despite the #OPEC decision to reduce restrictions on production from January 2021, #gold is also growing and is approaching 1850, the dollar index continues to fall and is already below 90.7.
Bitcoin exited the 18800-19300 range yesterday, moving one floor higher in the 19300-19500 range. An attempt to move further on the move ended just above 19600. Bitcoin rebounded to 19300, after which all attempts to move to 19500 were unsuccessful. The volumes are falling, the pressure on the price is growing, Bitcoin is pressed to 19300, the picture looks like preparation for a downward movement. I think this is a reindeer shorts breeding. We will take ATH on these shorts.
Seriously though, 20K is just a psychological level. And if in 2017 Bitcoin reached it on the hype and FOMO of the crowd, now it is a purposeful, systematic upward movement.
It is quite reasonable - since 2017, the dollars have become about 13-15 trillion more, and the amount of Bitcoin is only decreasing. If the stock indices in the falling economy in 2020 updated their ATH several times, then it is quite logical for Bitcoin to do the same.
Perhaps today we will return to the previous range of 18800-19300, or even come back to the support at 18400-18500. This option is possible if they inflate the FUD about the regulation of #stablecoins in the United States, this is exactly the #FUD we are talking about. The details as reported by #Cointelegraph writes a new bill introduced to Congress seeks to control the entire #stablecoin industry by requiring all related activities to obtain federal approval first. This bill could enforce blanket regulation on all stablecoins. If passed, any service provided in relation to these types of cryptocurrencies would become illegal without first receiving approval by multiple government bodies: “It shall be unlawful for any person to issue a stablecoin or stablecoin-related product, to provide any stablecoin-related service, or otherwise engage in any stablecoin-related commercial activity, including activity involving stablecoins issued by other persons, without obtaining written approval in advance, and on an ongoing basis, from the appropriate Federal banking agency, the Corporation, and the Board of Governors of the Federal Reserve System.”
This bill was submitted on November 19, and the topic is being inflated right now. If we assume that right now in the US everyone(banks and crypto exchanges) will give up and begin to adopt this law, and apply it to existing stablecoins; although the law has no retroactive effect, in this case most of the funds from the same #USDT will simply go to #Bitcoin. Am sure you understand how this will affect its course.
Today we expect #Bitcoin to move in the 18800-19500 range. If we leave for the weekend with Bitcoin above 19K, there is a chance for a local altseason and taking an important level of capitalization of 600 billion. In case of consolidation below 18800, all this is postponed for 7-10 days.
As always, have a blessed day ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge.
DECRYPT EDGE is inviting you to a scheduled Zoom meeting.
Topic: *DIGITIZATION SHIFT ..... WHERE ARE YOU?*
Time: *Dec 5, 2020 09:55 AM Nairobi*
TODAY on *BITCOIN101* - Let's learn about...
*-#Banks vs Bitcoin.*
*- Crypto-Markets news and updates.*
*- Open Q & A session.*
Join Zoom Meeting
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Topic: *DIGITIZATION SHIFT ..... WHERE ARE YOU?*
Time: *Dec 5, 2020 09:55 AM Nairobi*
TODAY on *BITCOIN101* - Let's learn about...
*-#Banks vs Bitcoin.*
*- Crypto-Markets news and updates.*
*- Open Q & A session.*
Join Zoom Meeting
https://us02web.zoom.us/j/84112829207?pwd=N3RsSzBrS0kzTnB0WEFjdEJ2MExvQT09
Meeting ID: 841 1282 9207
Passcode: BITCOIN101
Since tomorrow there will be no "Thoughts on the market", therefore we will sum up the day and tomorrow afternoon we'll see what will happen on the thin weekend market.
#Bitcoin moved today according to yesterday’s morning review. After an unsuccessful attempt to take 19,500, the main cryptocurrency fell to 18,800, corrections below were quickly bought back, and an hour ago, Bitcoin returned above 19K and is now trading in the 18900-19100 range. Total Crypto-Market capitalization is at $564 billion and #BTC dominance index 62.6% . Some interesting news, Citigroup CEO: We’re Helping Governments Create Digital Currencies. Central bank digital currencies are "inevitable," said Michael Corbat, CEO of the multinational investment bank. “We’ve been working with governments around the world in terms of the creation and commercialization of them and I think that’s inevitable that it will be coming,” Michael Corbat, who has been Citigroup’s CEO since 2012, told Bloomberg’s David Rubenstein.
Perhaps this explains why a month ago in #Kenya the news around the Central Bank of Kenya (CBK) into discussions with other global Central Banks on the possibilities of entering the digital currency space.“We are already having discussions with other global players, in various ways, around the introduction of Central Bank Digital Currencies. The push comes as a result of mushrooming of private cryptocurrencies and we are already feeling left out and need to create our own space,” said Central Bank of Kenya Governor Dr Patrick Njoroge. He made these remarks in an online interview with the US media, on the sidelines of Georgetown’s DC Fintech week. Could it be #Citigroup?
Equities are rallying well, with the S&P 500 at another high at 3692 (as of this writing). Nobody even asks questions why they are growing. The vaccine and the relief package, as well as the anticipation of the Christmas rally. Gold is slightly lower and is trading around 1840, the dollar index is around 90.7.
Bitcoin remained in the range indicated in the morning, and is now trading around 19,000. Altcoins, as always, suffered more than the main cryptocurrency, sagging much more significantly.
If Bitcoin holds around 19K or goes above, altcoins are likely to show good growth.
Priority option for the weekend - Bitcoin stays in the range of 18800-19500, altcoins are growing.
Alternative - Bitcoin correction below 18800 with recovery by Monday. In this case, the growth of altcoins is delayed.
Tomorrow afternoon we will give an updated picture of the market.
As always, have a blessed weekend ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge.
#Bitcoin moved today according to yesterday’s morning review. After an unsuccessful attempt to take 19,500, the main cryptocurrency fell to 18,800, corrections below were quickly bought back, and an hour ago, Bitcoin returned above 19K and is now trading in the 18900-19100 range. Total Crypto-Market capitalization is at $564 billion and #BTC dominance index 62.6% . Some interesting news, Citigroup CEO: We’re Helping Governments Create Digital Currencies. Central bank digital currencies are "inevitable," said Michael Corbat, CEO of the multinational investment bank. “We’ve been working with governments around the world in terms of the creation and commercialization of them and I think that’s inevitable that it will be coming,” Michael Corbat, who has been Citigroup’s CEO since 2012, told Bloomberg’s David Rubenstein.
Perhaps this explains why a month ago in #Kenya the news around the Central Bank of Kenya (CBK) into discussions with other global Central Banks on the possibilities of entering the digital currency space.“We are already having discussions with other global players, in various ways, around the introduction of Central Bank Digital Currencies. The push comes as a result of mushrooming of private cryptocurrencies and we are already feeling left out and need to create our own space,” said Central Bank of Kenya Governor Dr Patrick Njoroge. He made these remarks in an online interview with the US media, on the sidelines of Georgetown’s DC Fintech week. Could it be #Citigroup?
Equities are rallying well, with the S&P 500 at another high at 3692 (as of this writing). Nobody even asks questions why they are growing. The vaccine and the relief package, as well as the anticipation of the Christmas rally. Gold is slightly lower and is trading around 1840, the dollar index is around 90.7.
Bitcoin remained in the range indicated in the morning, and is now trading around 19,000. Altcoins, as always, suffered more than the main cryptocurrency, sagging much more significantly.
If Bitcoin holds around 19K or goes above, altcoins are likely to show good growth.
Priority option for the weekend - Bitcoin stays in the range of 18800-19500, altcoins are growing.
Alternative - Bitcoin correction below 18800 with recovery by Monday. In this case, the growth of altcoins is delayed.
Tomorrow afternoon we will give an updated picture of the market.
As always, have a blessed weekend ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge.
Thoughts on the market as of 07.12.2020: Standard Chartered Bank and UnionBank of the Philippines said Monday they have completed a proof-of-concept issuance of a 9 billion Philippines peso ($187 million) tokenized retail bond on a blockchain-backed platform.
The weekend passed unusually calm, nothing changed in the market. Bitcoin is in the range of 18800-19500, now at the upper border of the range, market capitalization is at $573 billion, dominance index is at 62.6%.
In financial markets, too, everything is the same - investors are waiting for the adoption of the stimulus package by December 11 and the Christmas rally.
On the crypto-market, everything has been the same - #Bitcoin is pulling up to the upper border of the 18800-19500 range, an attempt is clearly brewing to pass this range. If successful, movement to ATH is likely, if we do not pass 19500 now - return to the lower limit of the range and the next attempt after refueling.
A correction towards 17K can be considered only after fixing below 18800. In general, this is an unlikely option, possible in the case of some FUD, and not for long.
The priority option is to still update ATH before the New Year. If for this it will be necessary to go below 18800 first, there will be the possibility of refueling. The likelihood of this option increases in the event that we cannot pass 19500 by this evening.
On CME, it worked out the scenario that we mentioned here: positions are opened down. It is logical to let #FUD down and try to drop the price down to at least 18K. This requires those willing to sell #Bitcoin, and there are fewer of them. To some news, Singapore-based SC Ventures – Standard Chartered's fintech investment unit – was responsible for building the bond tokenization platform in collaboration with UnionBank. In total there were 3 and 5.25-year dual-tranche issuances totaling $187 million by UnionBank which were mirrored in tokenized form on the platform, according to the announcement. The project aims to provide retail investors with a platform to gain direct access to bonds. Source | Coindesk
#Altcoins are still not growing, the market is waiting for the outcome of the situation in Bitcoin and taking the level of 600 billion in capitalization.
As always, wishing you a great evening ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge.
The weekend passed unusually calm, nothing changed in the market. Bitcoin is in the range of 18800-19500, now at the upper border of the range, market capitalization is at $573 billion, dominance index is at 62.6%.
In financial markets, too, everything is the same - investors are waiting for the adoption of the stimulus package by December 11 and the Christmas rally.
On the crypto-market, everything has been the same - #Bitcoin is pulling up to the upper border of the 18800-19500 range, an attempt is clearly brewing to pass this range. If successful, movement to ATH is likely, if we do not pass 19500 now - return to the lower limit of the range and the next attempt after refueling.
A correction towards 17K can be considered only after fixing below 18800. In general, this is an unlikely option, possible in the case of some FUD, and not for long.
The priority option is to still update ATH before the New Year. If for this it will be necessary to go below 18800 first, there will be the possibility of refueling. The likelihood of this option increases in the event that we cannot pass 19500 by this evening.
On CME, it worked out the scenario that we mentioned here: positions are opened down. It is logical to let #FUD down and try to drop the price down to at least 18K. This requires those willing to sell #Bitcoin, and there are fewer of them. To some news, Singapore-based SC Ventures – Standard Chartered's fintech investment unit – was responsible for building the bond tokenization platform in collaboration with UnionBank. In total there were 3 and 5.25-year dual-tranche issuances totaling $187 million by UnionBank which were mirrored in tokenized form on the platform, according to the announcement. The project aims to provide retail investors with a platform to gain direct access to bonds. Source | Coindesk
#Altcoins are still not growing, the market is waiting for the outcome of the situation in Bitcoin and taking the level of 600 billion in capitalization.
As always, wishing you a great evening ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge.
Thoughts on the market as of 08.12.2020: US Representatives Add Digital Currencies to the 2021 Defense Bill
#Bitcoin remains in the same trading range. After an unsuccessful attempt to take 19,500, it tested the strength support at 18,800, after which it returned above 19,000. Now Bitcoin is trading around 19150-19200. Total Crypto-Market capitalization at $570 billion, dominance index 62.5%.
Stock markets are flat. S&P 500 closed at 3691, gold rose, nonetheless today the markets are looking down - reasons for growth have been worked out, but there is no new positive. There is too much money for a significant fall in the market, but the S&P 500 is quite ready to go to 3650.
The crypto market is still flat. Bitcoin remains in the 19500-18800 range. After unsuccessful attempts to go up, tBitcoin tested the strength support at 18800. It was possible to return above 19K, with no further progress, Bitcoin is in the middle of the trading range. Alts are still waiting for the denouement on Bitcoins so there is no growth either.
To some news, The United States government is preparing to pass the 2021 National Defense Authorization Act (NDAA) and the latest bill includes a broad definition of currencies and includes “digital currencies.” However, after more than 50 NDAA bills passed, President Donald Trump plans to veto the act which is expected to authorize more than $740.5 billion. The digital currency addition to the latest NDAA, follows a number of politicians who want more oversight on stablecoins. U.S. Representative Maxine Waters, the head of the House Financial Services Committee, wants the Office of the Comptroller of the Currency (OCC) to retract recent crypto-asset guidance. Source | News.bitcoin
Markets stand still. Buyers are in no hurry to buy from the market, hoping for a decline; there is not a single argument in favor of selling at all, except for the fear index at its maximum values.
The market cycle is not over. Bitcoin has grown and stabilized, but the topic of altcoin growth has not happened. Therefore, I expect either the growth of altcoins with Bitcoin in the previous trading range, or Bitcoin's exit towards ATH.
Smart money does its job at the same time. They are not waiting for Bitcoin at 15K, but are using the opportunities that still exist. MicroStrategy, which has already made good money on Bitcoin, continues to buy it.
As always, wishing you a great afternoon ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge.
#Bitcoin remains in the same trading range. After an unsuccessful attempt to take 19,500, it tested the strength support at 18,800, after which it returned above 19,000. Now Bitcoin is trading around 19150-19200. Total Crypto-Market capitalization at $570 billion, dominance index 62.5%.
Stock markets are flat. S&P 500 closed at 3691, gold rose, nonetheless today the markets are looking down - reasons for growth have been worked out, but there is no new positive. There is too much money for a significant fall in the market, but the S&P 500 is quite ready to go to 3650.
The crypto market is still flat. Bitcoin remains in the 19500-18800 range. After unsuccessful attempts to go up, tBitcoin tested the strength support at 18800. It was possible to return above 19K, with no further progress, Bitcoin is in the middle of the trading range. Alts are still waiting for the denouement on Bitcoins so there is no growth either.
To some news, The United States government is preparing to pass the 2021 National Defense Authorization Act (NDAA) and the latest bill includes a broad definition of currencies and includes “digital currencies.” However, after more than 50 NDAA bills passed, President Donald Trump plans to veto the act which is expected to authorize more than $740.5 billion. The digital currency addition to the latest NDAA, follows a number of politicians who want more oversight on stablecoins. U.S. Representative Maxine Waters, the head of the House Financial Services Committee, wants the Office of the Comptroller of the Currency (OCC) to retract recent crypto-asset guidance. Source | News.bitcoin
Markets stand still. Buyers are in no hurry to buy from the market, hoping for a decline; there is not a single argument in favor of selling at all, except for the fear index at its maximum values.
The market cycle is not over. Bitcoin has grown and stabilized, but the topic of altcoin growth has not happened. Therefore, I expect either the growth of altcoins with Bitcoin in the previous trading range, or Bitcoin's exit towards ATH.
Smart money does its job at the same time. They are not waiting for Bitcoin at 15K, but are using the opportunities that still exist. MicroStrategy, which has already made good money on Bitcoin, continues to buy it.
As always, wishing you a great afternoon ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge.
Thoughts on the market on 09.12. 2020: Facebook's rebranded #cryptocurrency Diem is a 'wolf in sheep's clothing,' #Gemany's finance minister says.
#Bitcoin has once again tested the support at 18800, and this time it did not resist. The price of #Bitcoin reached local lows of about 18K, after which it traded for several hours at about 18200-18250. Total CryptoMarket capitalization at $538 billion and #BTC dominance index of 63.0%.
Stock markets were up yesterday. American indices added 0.3% to 0.47%, S&P 500 renewed highs again and closed above 3700 for the first time. This was not prevented even by the record data on hospitalizations from #coronavirus in the United States and the lack of progress on the aid package. #FDA approval of the vaccine is scheduled for Thursday. Asian indices and S&P 500 futures are currently growing.
To some news, #Facebook's renamed cryptocurrency is a "wolf in sheep's clothing" and does not change the underlying risks that come with it, Germany's finance minister said on Monday. Facebook's Diem, formerly known as Libra , is a "wolf in sheep's clothing" because a new name does nothing to change associated regulatory risks, Germany's finance minister said on Monday. David Marcus, the head of Facebook Financial, or F2, said on Monday he hopes regulators will give the company the "benefit of the doubt," CNBC reported .
Diem would operate as a digital currency, providing an alternative to the US dollar and other currencies managed by foreign governments. It was originally meant to be backed by a wide mix of currencies and government debt. But it's now meant to launch as a single coin backed by the dollar. Full story with https://africa.businessinsider.com/ What are your thoughts?
#Bitcoin went out of the 19500-19800 trading range, the exit was down. TBitcoin hit lows around 18K, where it was previously on 1st of dDecember after which it bounced above 18,200, and has been trading around 18,250 for several hours. Market capitalization has lost about 30 billion, and the increased dominance index suggests that, as always, altcoins have suffered much more than the main cryptocurrency.
So far, everything is within the framework of a small correction. Bitcoin several times unsuccessfully tried to take 19,500, and the market capitalization was the level of 600 billion. It did not succeed, so it makes sense to say that it's retraticing to gain another momentum. So if before the American session today we do not return above 18700, then we can go below 18K.
The priority option is Bitcoin in the range of 18000-18700, with a subsequent return above 18700. If we go below 18000, the option with refueling, which I mentioned here, will work.
Bitcoin lost less than 10%, even if it continues to fall by the same amount, it does not affect his prospects in any way. This factor is not going anywhere either. The very phrase "Bitcoin fell to 18200" sounds beautiful. Especially when you remember where Bitcoin was a year ago.
Everyone knows what reasons led the price of Bitcoin to these levels, each of these reasons is still relevant. Hence, taking ATH is still relevant and falling is an opportunity.
#Bitcoin has once again tested the support at 18800, and this time it did not resist. The price of #Bitcoin reached local lows of about 18K, after which it traded for several hours at about 18200-18250. Total CryptoMarket capitalization at $538 billion and #BTC dominance index of 63.0%.
Stock markets were up yesterday. American indices added 0.3% to 0.47%, S&P 500 renewed highs again and closed above 3700 for the first time. This was not prevented even by the record data on hospitalizations from #coronavirus in the United States and the lack of progress on the aid package. #FDA approval of the vaccine is scheduled for Thursday. Asian indices and S&P 500 futures are currently growing.
To some news, #Facebook's renamed cryptocurrency is a "wolf in sheep's clothing" and does not change the underlying risks that come with it, Germany's finance minister said on Monday. Facebook's Diem, formerly known as Libra , is a "wolf in sheep's clothing" because a new name does nothing to change associated regulatory risks, Germany's finance minister said on Monday. David Marcus, the head of Facebook Financial, or F2, said on Monday he hopes regulators will give the company the "benefit of the doubt," CNBC reported .
Diem would operate as a digital currency, providing an alternative to the US dollar and other currencies managed by foreign governments. It was originally meant to be backed by a wide mix of currencies and government debt. But it's now meant to launch as a single coin backed by the dollar. Full story with https://africa.businessinsider.com/ What are your thoughts?
#Bitcoin went out of the 19500-19800 trading range, the exit was down. TBitcoin hit lows around 18K, where it was previously on 1st of dDecember after which it bounced above 18,200, and has been trading around 18,250 for several hours. Market capitalization has lost about 30 billion, and the increased dominance index suggests that, as always, altcoins have suffered much more than the main cryptocurrency.
So far, everything is within the framework of a small correction. Bitcoin several times unsuccessfully tried to take 19,500, and the market capitalization was the level of 600 billion. It did not succeed, so it makes sense to say that it's retraticing to gain another momentum. So if before the American session today we do not return above 18700, then we can go below 18K.
The priority option is Bitcoin in the range of 18000-18700, with a subsequent return above 18700. If we go below 18000, the option with refueling, which I mentioned here, will work.
Bitcoin lost less than 10%, even if it continues to fall by the same amount, it does not affect his prospects in any way. This factor is not going anywhere either. The very phrase "Bitcoin fell to 18200" sounds beautiful. Especially when you remember where Bitcoin was a year ago.
Everyone knows what reasons led the price of Bitcoin to these levels, each of these reasons is still relevant. Hence, taking ATH is still relevant and falling is an opportunity.
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Thoughts on the market as of 12.10.2020: #G7 Central Bankers Stress the Need to Regulate Cryptocurrencies at Latest Meeting
#Bitcoin reached a low of t 17650 during the day, after which it returned above 18000 and for more than 12 hours is in the range of 18200-18600. At the time of writing this review Bitcoin is exchanging at $18420. Total Crypto Market capitalization is at $548 billion with a BTC dominance index of 62.5%.
Stock markets saw a decline yesterday. The Dow Jones was down 0.58%, the Nasdag was down 1.94%, the S&P 500 shed 0.79% to close at 3672. The dollar index rose above 91%, gold is slightly lower and is trading around 1843.
Data from China brought negative to the markets, where the consumer price index showed a fall instead of growth, and the lack of progress on the stimulus package. The Asian indices on the other hand are trading in different directions, futures on the S&P 500 shows a slight increase.
Bitcoin after yesterday's correction to 17600 worked out yesterday's review, moving for the last 12 hours 18200-18600. To resume growth, it is necessary to consolidate above 18700.
Yesterday's correction did not affect the greed index, which remains at its highs. Perhaps there will be a FUD regarding the distribution of Bitcoins to victims of mt.Gox on December 15 and attempts to once again failed and the price still remains below 18K.
The priority remains the option of returning above 18700, continuing growth and updating ATH until the end of the year. If this will require refueling/retracement, this does not change the situation.
Interestingly, MicroStrategy, which has previously earned more than 300 million from Bitcoin, changed its plans to raise 400 million to buy Bitcoin. Now they are going to raise 550 million to buy Bitcoin.
To some interesting news, The G7 finance ministers and central bank governors discussed the need to regulate cryptocurrencies during their latest meeting. German Finance Minister Olaf Scholz raised concerns about Facebook’s upcoming cryptocurrency. U.S. Treasury Secretary Steven Mnuchin hosted a discussion on Monday with finance ministers and central bank governors from Canada, France, Germany, Italy, Japan, the U.K., the European Commission, and the Eurogroup. The meeting was also attended by the heads of the International Monetary Fund (IMF), the World Bank, and the Financial Stability Board (FSB).
Besides discussing responses to the Covid-19 pandemic and economic recovery measures, the G7 finance ministers and central bank governors “also discussed ongoing responses to the evolving landscape of crypto assets and other digital assets and national authorities’ work to prevent their use for malign purposes and illicit activities,” the Treasury Department detailed, adding:
There is strong support across the G7 on the need to regulate digital currencies. For detailed news Source | https://news.bitcoin.com/g7-central-bankers-regulate-cryptocurrencies/
As always, wishing you a great day ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge.
#Bitcoin reached a low of t 17650 during the day, after which it returned above 18000 and for more than 12 hours is in the range of 18200-18600. At the time of writing this review Bitcoin is exchanging at $18420. Total Crypto Market capitalization is at $548 billion with a BTC dominance index of 62.5%.
Stock markets saw a decline yesterday. The Dow Jones was down 0.58%, the Nasdag was down 1.94%, the S&P 500 shed 0.79% to close at 3672. The dollar index rose above 91%, gold is slightly lower and is trading around 1843.
Data from China brought negative to the markets, where the consumer price index showed a fall instead of growth, and the lack of progress on the stimulus package. The Asian indices on the other hand are trading in different directions, futures on the S&P 500 shows a slight increase.
Bitcoin after yesterday's correction to 17600 worked out yesterday's review, moving for the last 12 hours 18200-18600. To resume growth, it is necessary to consolidate above 18700.
Yesterday's correction did not affect the greed index, which remains at its highs. Perhaps there will be a FUD regarding the distribution of Bitcoins to victims of mt.Gox on December 15 and attempts to once again failed and the price still remains below 18K.
The priority remains the option of returning above 18700, continuing growth and updating ATH until the end of the year. If this will require refueling/retracement, this does not change the situation.
Interestingly, MicroStrategy, which has previously earned more than 300 million from Bitcoin, changed its plans to raise 400 million to buy Bitcoin. Now they are going to raise 550 million to buy Bitcoin.
To some interesting news, The G7 finance ministers and central bank governors discussed the need to regulate cryptocurrencies during their latest meeting. German Finance Minister Olaf Scholz raised concerns about Facebook’s upcoming cryptocurrency. U.S. Treasury Secretary Steven Mnuchin hosted a discussion on Monday with finance ministers and central bank governors from Canada, France, Germany, Italy, Japan, the U.K., the European Commission, and the Eurogroup. The meeting was also attended by the heads of the International Monetary Fund (IMF), the World Bank, and the Financial Stability Board (FSB).
Besides discussing responses to the Covid-19 pandemic and economic recovery measures, the G7 finance ministers and central bank governors “also discussed ongoing responses to the evolving landscape of crypto assets and other digital assets and national authorities’ work to prevent their use for malign purposes and illicit activities,” the Treasury Department detailed, adding:
There is strong support across the G7 on the need to regulate digital currencies. For detailed news Source | https://news.bitcoin.com/g7-central-bankers-regulate-cryptocurrencies/
As always, wishing you a great day ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge.
Bitcoin News
G7 Central Bankers Stress the Need to Regulate Cryptocurrencies at Latest Meeting – Regulation Bitcoin News
The G7 finance ministers and central bank governors discussed the need to regulate cryptocurrencies during their latest meeting. German Finance Minister Olaf Scholz raised concerns about Facebook's upcoming cryptocurrency.
Thoughts on the market as of 11.12.2020: #DBS to launch full-service digital exchange - providing tokenization, trading and custody ecosystem for #digitalassets
During the day, #Bitcoin was in the range of 18450-17800. Until 00:00, Bitcoin then edged on the upper border of the range before it began to decline, reached $17800 and is now trading around 17850-17800. Total Crypto-Market capitalization is at $530 billion and #BTC dominance index of 62.9%.
Equity markets were practically flat yesterday, with the S&P 500 closing at 3668 (down 0.13%), the Dow Jones shedding 0.23% and the Nasdaq rising 0.54%. The ECB announced its intention to help the economy by 500 billion, the FDA approved a vaccine from Pfizer and BioNTech, and another 3 days were given for negotiations on Brexit. Brent crude reached $ 50, gold around 1840, the dollar index fell below 90.7. Despite the positive effects of the vaccine and the falling dollar index, futures for the S&P 500 are still in the red, Asian indices are also looking down.
Interestingly, the largest bank in Singapore has confirmed the launch of a cryptocurrency exchange for institutional clients and accredited investors. In addition to Bitcoin, Ethereum, Bitcoin Cash and XRP will be traded there. This Information that the bank plans to launch a crypto exchange appeared at the end of October. The press release was later removed from the site, and DBS said the initiative was under development. (We mentioned it here.) Recall that the subsidiaries of the Swiss stock exchange SIX Swiss Exchange and the Japanese financial conglomerate SBI Holdings announced the creation of a blockchain platform for institutions in Singapore
Source | https://www.dbs.com/
#Bitcoin yesterday confidently held above 18K, repeatedly trying to gain a foothold above 18400. Attempts did not lead to success, and from 00 hours Bitcoin went down. So far #Bitcoin has not updated the lows from 9.12, and is holding above 17800.
Altcoins expectedly followed the road that Bitcoin showed them, the market capitalization lost more than 10% from the previously reached maximums. Etherum is trading below $550, of the TOP-10, Litecoin and Link lost the most.
Until #Bitcoin goes below 17600, it remains in the same range of 17600-18500. Only if the fixation below 17600 occurs, perhaps we will test the strength of the levels of the end of November at 16800-17000. If there is FUD around December 15, pertaining regulation of stable coins or something like that, we can go to 16,200. Then fear and uncertainty will appear on the market, the deer will finally merge assets, or even become short, and it will be possible to move on to growth.
In the medium term, this does not change the prospects for Bitcoin and the market as a whole. In the short term, fixing below 17,000 for more than a day can postpone the ATH update for Bitcoin to the first quarter of 2021. Until that happens, I consider it more likely to be updated in 2020.
Tomorrow we have #Decryptedge #Bitcoin101 at 10:00am. Remember to plug in as we shall be sharing key updates of the week. As always, wishing you a great weekend ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge.
During the day, #Bitcoin was in the range of 18450-17800. Until 00:00, Bitcoin then edged on the upper border of the range before it began to decline, reached $17800 and is now trading around 17850-17800. Total Crypto-Market capitalization is at $530 billion and #BTC dominance index of 62.9%.
Equity markets were practically flat yesterday, with the S&P 500 closing at 3668 (down 0.13%), the Dow Jones shedding 0.23% and the Nasdaq rising 0.54%. The ECB announced its intention to help the economy by 500 billion, the FDA approved a vaccine from Pfizer and BioNTech, and another 3 days were given for negotiations on Brexit. Brent crude reached $ 50, gold around 1840, the dollar index fell below 90.7. Despite the positive effects of the vaccine and the falling dollar index, futures for the S&P 500 are still in the red, Asian indices are also looking down.
Interestingly, the largest bank in Singapore has confirmed the launch of a cryptocurrency exchange for institutional clients and accredited investors. In addition to Bitcoin, Ethereum, Bitcoin Cash and XRP will be traded there. This Information that the bank plans to launch a crypto exchange appeared at the end of October. The press release was later removed from the site, and DBS said the initiative was under development. (We mentioned it here.) Recall that the subsidiaries of the Swiss stock exchange SIX Swiss Exchange and the Japanese financial conglomerate SBI Holdings announced the creation of a blockchain platform for institutions in Singapore
Source | https://www.dbs.com/
#Bitcoin yesterday confidently held above 18K, repeatedly trying to gain a foothold above 18400. Attempts did not lead to success, and from 00 hours Bitcoin went down. So far #Bitcoin has not updated the lows from 9.12, and is holding above 17800.
Altcoins expectedly followed the road that Bitcoin showed them, the market capitalization lost more than 10% from the previously reached maximums. Etherum is trading below $550, of the TOP-10, Litecoin and Link lost the most.
Until #Bitcoin goes below 17600, it remains in the same range of 17600-18500. Only if the fixation below 17600 occurs, perhaps we will test the strength of the levels of the end of November at 16800-17000. If there is FUD around December 15, pertaining regulation of stable coins or something like that, we can go to 16,200. Then fear and uncertainty will appear on the market, the deer will finally merge assets, or even become short, and it will be possible to move on to growth.
In the medium term, this does not change the prospects for Bitcoin and the market as a whole. In the short term, fixing below 17,000 for more than a day can postpone the ATH update for Bitcoin to the first quarter of 2021. Until that happens, I consider it more likely to be updated in 2020.
Tomorrow we have #Decryptedge #Bitcoin101 at 10:00am. Remember to plug in as we shall be sharing key updates of the week. As always, wishing you a great weekend ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge.
Thoughts on the market for 16.12.2020: An incoming #Senator believes #bitcoin is a better store of value than paper #money and plans to teach #Congress how to use it to reduce the national debt
Bitcoin has been in the trading range of 19050-19600 for the last 24hrs. After aggressive exits yesterday morning there was a correction to the lower border of the range, followed by a recovery and has been trading in the 19200-19500 range for about 18 hours. Total Crypto-Market capitalization is $564 billion and a #BTC dominance index of 63.9%.
Stock markets were up yesterday. US indices added 1.13 to 1.29%, S&P 500 closed at 3694. Apple shares rose more than 5% on the announcement of more than 30% increase in iPhone production from a year ago. Markets ignored information on slowdown in US industrial production to 0.4% and an expected fall by 5.5% for the year. The Asian indices are growing, gold is already above 1860, oil is holding above 50, futures for the S&P 500 are practically in place.
The short-term prospects of the market will continue to be determined by the situation regarding the aid package, the adoption of which before the New Year is still in question.
The trustee of Mt.Gox has sued Tokyo for a plan to reimburse former clients of the exchange. FUD around this, on the topic of a market crash can be dispersed after the exchange clients receive these payments. Some good news, Senator-elect Cynthia Lummis told the podcast that bitcoin is a better store of value than paper money and she plans to teach Congress how to use it to reduce the national debt when she assumes office in January. "If we reach the point where we have overspent so much that things start crashing down, the black swan event occurs with any regard to any fiat currency...there is a backstop available to every government in the world and that backstop is bitcoin," Lummis said. The senator-elect also said that bitcoin is a better store of value than paper money because the cryptocurrency's supply is finite. Source | https://africa.businessinsider.co
With Bitcoin still trying to take 19500, there were two attempts in a day that did not lead to success, there will be one more. If the result is the same, we can go to the lower border of the range at 19K, or even make a correction to 18600. If we fix it, we will go to ATH this week.
The situation is somewhat similar to the one that was in June-July 2020, when Bitcoin was between 9000 and 10500. Then the capture of the important level of 10500 was preceded by several unsuccessful attempts, which ended with a drain to the lower border of the range, and only then success. Bitcoin is making its sixth (since the end of November) attempt to gain a foothold above 19500. So far there has been no success, but it is obvious that given the current market situation there is no alternative to this outcome, the only question is the timing.
The priority for today is the exit of Bitcoin from the range of 19500-19000 upwards. An alternative is the range 19000-19500.
As always, wishing you a great weekend ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge.
Bitcoin has been in the trading range of 19050-19600 for the last 24hrs. After aggressive exits yesterday morning there was a correction to the lower border of the range, followed by a recovery and has been trading in the 19200-19500 range for about 18 hours. Total Crypto-Market capitalization is $564 billion and a #BTC dominance index of 63.9%.
Stock markets were up yesterday. US indices added 1.13 to 1.29%, S&P 500 closed at 3694. Apple shares rose more than 5% on the announcement of more than 30% increase in iPhone production from a year ago. Markets ignored information on slowdown in US industrial production to 0.4% and an expected fall by 5.5% for the year. The Asian indices are growing, gold is already above 1860, oil is holding above 50, futures for the S&P 500 are practically in place.
The short-term prospects of the market will continue to be determined by the situation regarding the aid package, the adoption of which before the New Year is still in question.
The trustee of Mt.Gox has sued Tokyo for a plan to reimburse former clients of the exchange. FUD around this, on the topic of a market crash can be dispersed after the exchange clients receive these payments. Some good news, Senator-elect Cynthia Lummis told the podcast that bitcoin is a better store of value than paper money and she plans to teach Congress how to use it to reduce the national debt when she assumes office in January. "If we reach the point where we have overspent so much that things start crashing down, the black swan event occurs with any regard to any fiat currency...there is a backstop available to every government in the world and that backstop is bitcoin," Lummis said. The senator-elect also said that bitcoin is a better store of value than paper money because the cryptocurrency's supply is finite. Source | https://africa.businessinsider.co
With Bitcoin still trying to take 19500, there were two attempts in a day that did not lead to success, there will be one more. If the result is the same, we can go to the lower border of the range at 19K, or even make a correction to 18600. If we fix it, we will go to ATH this week.
The situation is somewhat similar to the one that was in June-July 2020, when Bitcoin was between 9000 and 10500. Then the capture of the important level of 10500 was preceded by several unsuccessful attempts, which ended with a drain to the lower border of the range, and only then success. Bitcoin is making its sixth (since the end of November) attempt to gain a foothold above 19500. So far there has been no success, but it is obvious that given the current market situation there is no alternative to this outcome, the only question is the timing.
The priority for today is the exit of Bitcoin from the range of 19500-19000 upwards. An alternative is the range 19000-19500.
As always, wishing you a great weekend ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge.