Congratulations, the #US got you cryptocurrency regulation for #Christmas as SEC Sues Ripple Over 7-Year, $1.3B ‘Ongoing’ XRP Sale. Thoughts on the market as of 23.12.2020:
In the last 24hr #Bitcoin first approached the upper border of the trading range, fixing a local maximum above $24200, then began to decline, again testing $22600 for strength.
It's now trading around 23000-22800. Total CryptoMarket capitalization is at $616 billion, and #BTC dominance index 69.0%.
American markets closed slightly higher. Dow Jones added 0.38%, S&P 500 0.07%, Nasdaq lost 0.29%. Markets rallied on strong labor market data and information on the BREXIT deal, which was expected to be announced yesterday. Then it turned out that there was no announcement yet, which caused a reaction from the markets. There is every chance to close the last trading day before Catholic Christmas with growth, especially if the BREXIT deal is announced.
The main negative of the cryptocurrency market is #XRP, which breaks the bottom against the background of the SEC hitting and has already lost its support by 0.3. The rest of the altcoins in the last day followed. The Bitcoin Dominance Index reached annual highs, and the market capitalization lost more than 10%. Bitcoin moves in a wide trading range of 22000-24000.
Interestingly the same time, when it moves to the upper border of the range, the altos grow slightly or stand still, and when moving to the lower one, they tend to break through the bottom, especially Chainlink and XTZ succeeded in this.
The situation with the volatility should be regarded as an opportunity. When else to buy them, if not on the correction?
Jay Clayton, Chairman of the US Securities and Exchange Commission (SEC), is leaving his post until the end of the year. That is, his hitting XRP was just a spectacular completion of activities, and it is far from the fact that it will have practical consequences. Once market participants understand this, XRP will go up and the rest of the alts will follow. And Congratulations, the #US got you cryptocurrency regulation for #Christmas. Under new proposed regulations from the Financial Crimes Enforcement Network, it may become much easier for the government to track bitcoin transactions. And while there’s currently a 15-day comment period open, cryptocurrency exchange Coinbase and the Electronic Frontier Foundation are calling foul because that period includes Christmas Eve, Christmas Day, New Year’s Eve, and New Year’s Day. More on our Telegram Channel @decryptedge.
So in closing expect Bitcoin to return above 23K (possibly after the 22K test) and altcoins to revive even before the New Year. By the same XRP, it seems that the bottom has already formed and we are not going lower.
Regarding the situation with altcoins, we once again recall the quality of the audience: The market crowd is draining senselessly and mercilessly), and it is still the main participant in the altcoin market. The advantage is that when #Altcoin grows, it behaves just as irrational. Those who have now leaked or are draining on altcoins will actively enter them when they grow by 30-50%.
Although at that time it will already be necessary to think about taking profit.
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
In the last 24hr #Bitcoin first approached the upper border of the trading range, fixing a local maximum above $24200, then began to decline, again testing $22600 for strength.
It's now trading around 23000-22800. Total CryptoMarket capitalization is at $616 billion, and #BTC dominance index 69.0%.
American markets closed slightly higher. Dow Jones added 0.38%, S&P 500 0.07%, Nasdaq lost 0.29%. Markets rallied on strong labor market data and information on the BREXIT deal, which was expected to be announced yesterday. Then it turned out that there was no announcement yet, which caused a reaction from the markets. There is every chance to close the last trading day before Catholic Christmas with growth, especially if the BREXIT deal is announced.
The main negative of the cryptocurrency market is #XRP, which breaks the bottom against the background of the SEC hitting and has already lost its support by 0.3. The rest of the altcoins in the last day followed. The Bitcoin Dominance Index reached annual highs, and the market capitalization lost more than 10%. Bitcoin moves in a wide trading range of 22000-24000.
Interestingly the same time, when it moves to the upper border of the range, the altos grow slightly or stand still, and when moving to the lower one, they tend to break through the bottom, especially Chainlink and XTZ succeeded in this.
The situation with the volatility should be regarded as an opportunity. When else to buy them, if not on the correction?
Jay Clayton, Chairman of the US Securities and Exchange Commission (SEC), is leaving his post until the end of the year. That is, his hitting XRP was just a spectacular completion of activities, and it is far from the fact that it will have practical consequences. Once market participants understand this, XRP will go up and the rest of the alts will follow. And Congratulations, the #US got you cryptocurrency regulation for #Christmas. Under new proposed regulations from the Financial Crimes Enforcement Network, it may become much easier for the government to track bitcoin transactions. And while there’s currently a 15-day comment period open, cryptocurrency exchange Coinbase and the Electronic Frontier Foundation are calling foul because that period includes Christmas Eve, Christmas Day, New Year’s Eve, and New Year’s Day. More on our Telegram Channel @decryptedge.
So in closing expect Bitcoin to return above 23K (possibly after the 22K test) and altcoins to revive even before the New Year. By the same XRP, it seems that the bottom has already formed and we are not going lower.
Regarding the situation with altcoins, we once again recall the quality of the audience: The market crowd is draining senselessly and mercilessly), and it is still the main participant in the altcoin market. The advantage is that when #Altcoin grows, it behaves just as irrational. Those who have now leaked or are draining on altcoins will actively enter them when they grow by 30-50%.
Although at that time it will already be necessary to think about taking profit.
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
Is Bitcoin going down or up? As is Japan Gearing Up to Launch Its Own Digital Currency: Report -Thoughts on the market as of 25.12.2020.
#Bitcoin remained in the range of 22800-23800 throughout the day. After the test of the lower border last night, it went up, reaching values above 23800 a few hours ago, after which it fell to 23500, where it is currently being traded.Total Crypto Market capitalization is at $643 billion and #BTC dominance index of 68.0%.
Stock indices closed with plus from 0.23% to 0.35%. The S&P 500 closed at 3703. The dollar index closed at 90.250, gold 1882, Brent oil above 51.
#Brexit took place. It took 11 grueling months for negotiators from Britain and the European Union to hammer out the terms of a post-Brexit trade deal. But in many respects, the deal is already four and a half years out of date.
On the crypto market, #Bitcoin is still moving in a trading range. Having tested 22800-22600 last night it was already above 23800 a couple of hours ago, from where it went down again.
XRP returned above 0.3, regaining the losses of the last day, the dominance of Bitcoin lost 1%, the rest of the alts are slowly recovering.
The main obscurantist Clayton resigned, nothing threatening from the point of view of XRP law for a couple of months. The main risk is the delisting of the asset from #Coinbase. After all, this exchange on December 18 filed an application for an IPO and is now interested in showing maximum loyalty to the SEC. If this happens, XRP has a bleak outlook. Given the personal contacts at the shareholder level and Brian Armstrong's desire to save face in the crypto industry, there is a chance to avoid this option.
Yesterday, #Livecoin exchange was either hacked or scammed. There is a message on the site about a hack, Bitcoin on this exchange soared to 22K, the executive director of the exchange deleted the account. This will not affect the market in any way, the exchange was too small. #EXMO, which was hacked before, have plans and promised to enable withdrawals today or tomorrow.
Of the good, #US regulators have buried the idea of tightening the turnover of stablecoins. The US President's Financial Markets Working Group (PWG), which includes representatives from all American regulators, has abandoned the idea of tightening the rules for the circulation of stablecoins. The meeting ended with the decision to leave the previous principles of token regulation, issuers only need to prove compliance with the KYC and AML rules. The US Securities Commission has announced a five-year moratorium on checks and claims against broker-dealers holding security tokens. This asset class includes cryptocurrencies pegged to real shares, issued during a regulated ICO (STO), or debt bonds. A document published by the SEC also launches a collection of comments on the issue of allowing broker-dealers to trade security tokens using Bitcoin and Ethereum cryptocurrencies, as well as fiat. The regulator also plans to receive a proposal to organize the security of such digital trading and guarantees to protect the rights of investors.
Japan is gearing up to launch a digital currency in both the public and private sectors as it trails China, which is in the trial stage of launching its own. According to the Japan Times, the country's Digital Currency Forum aims to create “some form” of digital currency similar to Facebook’s diem plan, by 2023. Source | https://www.coindesk.com/
Until Monday, expect Bitcoin in a range with a lower border(breakdown)of 22800-22600 = bearish and an upper border (breakout)r at 24000-24400 = Bullish (See Chart) and an increase in #altcoins.
As always, #Happyholidays 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 remained in the range of 22800-23800 throughout the day. After the test of the lower border last night, it went up, reaching values above 23800 a few hours ago, after which it fell to 23500, where it is currently being traded.Total Crypto Market capitalization is at $643 billion and #BTC dominance index of 68.0%.
Stock indices closed with plus from 0.23% to 0.35%. The S&P 500 closed at 3703. The dollar index closed at 90.250, gold 1882, Brent oil above 51.
#Brexit took place. It took 11 grueling months for negotiators from Britain and the European Union to hammer out the terms of a post-Brexit trade deal. But in many respects, the deal is already four and a half years out of date.
On the crypto market, #Bitcoin is still moving in a trading range. Having tested 22800-22600 last night it was already above 23800 a couple of hours ago, from where it went down again.
XRP returned above 0.3, regaining the losses of the last day, the dominance of Bitcoin lost 1%, the rest of the alts are slowly recovering.
The main obscurantist Clayton resigned, nothing threatening from the point of view of XRP law for a couple of months. The main risk is the delisting of the asset from #Coinbase. After all, this exchange on December 18 filed an application for an IPO and is now interested in showing maximum loyalty to the SEC. If this happens, XRP has a bleak outlook. Given the personal contacts at the shareholder level and Brian Armstrong's desire to save face in the crypto industry, there is a chance to avoid this option.
Yesterday, #Livecoin exchange was either hacked or scammed. There is a message on the site about a hack, Bitcoin on this exchange soared to 22K, the executive director of the exchange deleted the account. This will not affect the market in any way, the exchange was too small. #EXMO, which was hacked before, have plans and promised to enable withdrawals today or tomorrow.
Of the good, #US regulators have buried the idea of tightening the turnover of stablecoins. The US President's Financial Markets Working Group (PWG), which includes representatives from all American regulators, has abandoned the idea of tightening the rules for the circulation of stablecoins. The meeting ended with the decision to leave the previous principles of token regulation, issuers only need to prove compliance with the KYC and AML rules. The US Securities Commission has announced a five-year moratorium on checks and claims against broker-dealers holding security tokens. This asset class includes cryptocurrencies pegged to real shares, issued during a regulated ICO (STO), or debt bonds. A document published by the SEC also launches a collection of comments on the issue of allowing broker-dealers to trade security tokens using Bitcoin and Ethereum cryptocurrencies, as well as fiat. The regulator also plans to receive a proposal to organize the security of such digital trading and guarantees to protect the rights of investors.
Japan is gearing up to launch a digital currency in both the public and private sectors as it trails China, which is in the trial stage of launching its own. According to the Japan Times, the country's Digital Currency Forum aims to create “some form” of digital currency similar to Facebook’s diem plan, by 2023. Source | https://www.coindesk.com/
Until Monday, expect Bitcoin in a range with a lower border(breakdown)of 22800-22600 = bearish and an upper border (breakout)r at 24000-24400 = Bullish (See Chart) and an increase in #altcoins.
As always, #Happyholidays 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
Coindesk
CoinDesk: Bitcoin, Ethereum, XRP, Crypto News and Price Data
Leader in cryptocurrency, Bitcoin, Ethereum, XRP, blockchain, DeFi, digital finance and Web 3.0 news with analysis, video and live price updates.
CEO of MTI Ponzi Scheme Flees South Africa in Possible Exit Scam – Funds Blocked. Thoughts on the market on 26.12.2020: Clarity it's #Bitcoin is not Ponzi.
#Bitcoin went up from the range and once again updated the ATH. The main cryptocurrency reached values above 25050, after which it began to decline and is now trading around 24700.
Total CryptoMarket capitalization is at 669 billion with BTC dominance index of 68.8%.
In connection with Catholic Christmas, the stock markets did not work, so we talk about the situation on the crypto market since it never sleeps..
From the trading range of 22000-24000, Bitcoin went up, once again over the last month updating the ATH, which is now above 25K. Option 1 from this analysis (https://t.me/decryptedge/138), which started working out last weekend, moved to option 2.
A week ago, the alts turned to growth, market capitalization reached values above 670 billion, and the dominance of Bitcoin decreased to 66%. But the week was not easy for the markets - on Monday, the FUD over the "new coronavirus" crushed the stock markets, against this background, and Bitcoin fell to 22600, then the story with the SEC hitting Ripple(XRP) dealt a blow to the crypto market.
Bitcoin was not hooked by all this, it not only stayed above 22K, but also returned to growth and updated highs. Altcoins suffered, which the Ripple story drove to the bottom. Only Litecoin and Etherum have recovered, the rest of the altcoins are at their lows to Bitcoin and are growing weakly against the dollar.
XRP, which began to recover yesterday and was already above 0.36, fell again on the news that Bitstamp has banned XRP trading for US users from January 8. Support at 0.3 has held out so far, but if some other major exchanges impose restrictions on trading XRP.
The situation with Ripple highlighted the vulnerability of altcoins that are tied to specific people or companies, and therefore can always be subjected to pressure from some obscurantists. Our emphasis on the advantage of Bitcoin, which is devoid of these disadvantages. Nevertheless, the standard market cycle, which implies the growth of altcoins after the growth of Bitcoin, will be completed.
In an unexpected turn of events, the management team at Mirror Trading International (MTI) now suggest that their CEO Johann Steynberg may have exit scammed. The team alleges that Steynberg, now believed to be in Brazil, has locked out key management staff from accessing MTI’s account with a local bank. Additionally, management now appears to confirm earlier allegations that #bitcoin withdrawal requests are not being honoured despite previously refuting this. As reported by news.bitcoin such title is misleading. Its my job here to clarify that #Bitcoin is not ponzi.. It was just used as a medium of exchange and settlement. Last-minute revelations by MTI management appear to buttress the findings of an investigation by the Financial Sector Conduct Authority (FSCA), South Africa’s financial services regulator. In its update on the MTI probe, the FSCA said it uncovered losses that were not previously reported as well as bitcoins that cannot be accounted for. MTI statement states that the CEO then requested Clynton Marks – a member of the MTI management team – for 400 BTC “to pay members that had made withdrawals as the limitation on withdrawals with the broker was still a hindrance.” The statement claims that Marks agreed and transferred the BTC to the CEO but management “has no proof that Johann did contribute the amount stated.” Stay safe out there.
Away from that and in closing we are looking forward to taking 700 billion in capitalization, and reducing the dominance of Bitcoin to 60-62%, and then a correction. These are plans for the next couple of weeks.
At the weekend, the priority option is Bitcoin above 24K and the growth of altcoins.
Alternative - the return of the main cryptocurrency to the range of 22000-24000. In this case, everything will be bad for altcoins now, recovery and growth are carried over to the next week and the beginning of January.
#Bitcoin went up from the range and once again updated the ATH. The main cryptocurrency reached values above 25050, after which it began to decline and is now trading around 24700.
Total CryptoMarket capitalization is at 669 billion with BTC dominance index of 68.8%.
In connection with Catholic Christmas, the stock markets did not work, so we talk about the situation on the crypto market since it never sleeps..
From the trading range of 22000-24000, Bitcoin went up, once again over the last month updating the ATH, which is now above 25K. Option 1 from this analysis (https://t.me/decryptedge/138), which started working out last weekend, moved to option 2.
A week ago, the alts turned to growth, market capitalization reached values above 670 billion, and the dominance of Bitcoin decreased to 66%. But the week was not easy for the markets - on Monday, the FUD over the "new coronavirus" crushed the stock markets, against this background, and Bitcoin fell to 22600, then the story with the SEC hitting Ripple(XRP) dealt a blow to the crypto market.
Bitcoin was not hooked by all this, it not only stayed above 22K, but also returned to growth and updated highs. Altcoins suffered, which the Ripple story drove to the bottom. Only Litecoin and Etherum have recovered, the rest of the altcoins are at their lows to Bitcoin and are growing weakly against the dollar.
XRP, which began to recover yesterday and was already above 0.36, fell again on the news that Bitstamp has banned XRP trading for US users from January 8. Support at 0.3 has held out so far, but if some other major exchanges impose restrictions on trading XRP.
The situation with Ripple highlighted the vulnerability of altcoins that are tied to specific people or companies, and therefore can always be subjected to pressure from some obscurantists. Our emphasis on the advantage of Bitcoin, which is devoid of these disadvantages. Nevertheless, the standard market cycle, which implies the growth of altcoins after the growth of Bitcoin, will be completed.
In an unexpected turn of events, the management team at Mirror Trading International (MTI) now suggest that their CEO Johann Steynberg may have exit scammed. The team alleges that Steynberg, now believed to be in Brazil, has locked out key management staff from accessing MTI’s account with a local bank. Additionally, management now appears to confirm earlier allegations that #bitcoin withdrawal requests are not being honoured despite previously refuting this. As reported by news.bitcoin such title is misleading. Its my job here to clarify that #Bitcoin is not ponzi.. It was just used as a medium of exchange and settlement. Last-minute revelations by MTI management appear to buttress the findings of an investigation by the Financial Sector Conduct Authority (FSCA), South Africa’s financial services regulator. In its update on the MTI probe, the FSCA said it uncovered losses that were not previously reported as well as bitcoins that cannot be accounted for. MTI statement states that the CEO then requested Clynton Marks – a member of the MTI management team – for 400 BTC “to pay members that had made withdrawals as the limitation on withdrawals with the broker was still a hindrance.” The statement claims that Marks agreed and transferred the BTC to the CEO but management “has no proof that Johann did contribute the amount stated.” Stay safe out there.
Away from that and in closing we are looking forward to taking 700 billion in capitalization, and reducing the dominance of Bitcoin to 60-62%, and then a correction. These are plans for the next couple of weeks.
At the weekend, the priority option is Bitcoin above 24K and the growth of altcoins.
Alternative - the return of the main cryptocurrency to the range of 22000-24000. In this case, everything will be bad for altcoins now, recovery and growth are carried over to the next week and the beginning of January.
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KryptoEdge
#Bitcoin met expectations by the end of the year and updated its ATH. #decryptedge market thoughts spoke about the inevitability of this since July and many times in November when it became apparent.
The question is what will happen next?
It is clear that…
The question is what will happen next?
It is clear that…
#Happy Holidays 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
Well well well.. #Happyholidays to you. https://t.me/decryptedge/132 BTC just cleared 27K as we analyzed here(https://t.me/decryptedge/132) Interestingly #ETH and #BTC show the same pattern, which I felt we can`t pass without sharing with you. By breakout through this resistance at $700, #ETH can reach $850/1250 easily!!
Ps:
-Thoughts here is to give you ideas and technical expectations about price movement (not buy or sell advice) so before following any idea be sure doing your own research, and be sure you follow risk management.
Ps:
-Thoughts here is to give you ideas and technical expectations about price movement (not buy or sell advice) so before following any idea be sure doing your own research, and be sure you follow risk management.
Telegram
KryptoEdge
Thoughts on the market on 18.12.2020:
#Bitcoin once again renewed its highs, reaching values above 23880, after which it formed a trading range of 22500-23600, where it is currently located. Bitcoin is currently trading at around 23,200. Total Crypto…
#Bitcoin once again renewed its highs, reaching values above 23880, after which it formed a trading range of 22500-23600, where it is currently located. Bitcoin is currently trading at around 23,200. Total Crypto…
#Mexico’s second richest man says #Bitcoin is his 'best investment ever' : Thoughts on the market on 28.12.2020
The last Saturday-Sunday of the outgoing year turned out to be the best weekend in 2020 for #Bitcoin. It updated its ATH several times; at the moment, the absolute maximum is above 28450. There was a pullback to 26K, and for the last 2 hours Bitcoin has been trading in the range of 26900-27300. Total Crypto-Market capitalisation is at 721 billion and BTC dominance index of 69.6%.
Equity markets opened positively. Asian indices are growing, futures for the S&P 500 too, the dollar index is decreasing and is now around 90.1. Oil dropped slightly, possibly due to news of the discovery of 4 new fields in Saudi Arabia.
Today, a vote is scheduled to increase payments within the aid package to $2000 per person, instead of the previously adopted $600.
There is also an article that answers the questions, who benefits from coronpsychosis, how it was inflated, what tasks were solved thanks to it, and what will happen next. Article by reference.
#Bitcoin ends 2020 well. Over the weekend, the maximums were updated several times, the current ATH is above 28450. At the same time, support at 26000-25900 is indicated on yesterday's correction. The capitalisation level of $700 billion has also been successfully taken.
If we take this analysis, which was made after Bitcoin took 20K, then something in between options 1 and 2 has been worked out.
On the one hand, Bitcoin took 25K and successfully consolidated higher, capitalisation of 700 billion was also achieved. On the other hand, the growth of altcoins is still very selective. Etherum and Litecoin have grown, Etherum has updated the highs of 2018, the rest of the alts from the TOP are still in the same place where they were with Bitcoin below 20K. #BTC dominance index exceeded 70% yesterday, but is not much lower now.
Everything is logical and understandable. The development of option 1 was prevented by the SEC hitting XRP, which was mentioned here. Since XRP was in the TOP-3, the situation hit altcoins in general, showing their vulnerability due to being tied to specific people and companies. Many XRP holders went out to Bitcoin, many simply sold other alts and bought Bitcoin.
Therefore, Bitcoin successfully consolidated above 25K and went to new highs, and the TOP alts lagged behind it significantly.
Yesterday the growth of Etherum began, taking 700 and moving on.
I think the rest of the top alts will move to growth, and the standard market cycle will be worked out.
The prerequisites for this are the absence of a new negative for XRP and a stable Bitcoin in the range of 26000-28000. In this case, the entire TOP will show powerful growth.
The main risk for XRP right now is delisting from major exchanges.
While this decision was made by the Bitstamp exchange, it concerns only US citizens.
If you want to make money buying up cheap XRP, but fear further negative effects on the asset, pay attention.
The CEO of Binance said that in Q3 2020, the number of corporate accounts increased by 60% compared to the previous period. This is what I was talking about here - information about public companies that bought Bitcoin is the tip of the iceberg.
People and companies who think faster than others have come to the topic for a long time, that's why they earned their money. We talked about a business man who sold a 60-room hotel this year and bought Bitcoin. He did it with Bitcoin between 9000 and 10000. One of our associates Communicated with him yesterday in real life, he says 2020 is the best year for him in the last 10 years in all respects).
Another Mexico’s second richest man says Bitcoin is his 'best investment ever' Ricardo Salinas Pliego, chairman at conglomerate Grupo Salinas and Mexico’s second richest man, has revealed to @Cointelegraph in an interview that he bought his first Bitcoin in 2013, when it was worth around $200. That, according to the billionaire, was his “best investment ever”. After holding it all the way until its 2017 highs, he sold all his pos
The last Saturday-Sunday of the outgoing year turned out to be the best weekend in 2020 for #Bitcoin. It updated its ATH several times; at the moment, the absolute maximum is above 28450. There was a pullback to 26K, and for the last 2 hours Bitcoin has been trading in the range of 26900-27300. Total Crypto-Market capitalisation is at 721 billion and BTC dominance index of 69.6%.
Equity markets opened positively. Asian indices are growing, futures for the S&P 500 too, the dollar index is decreasing and is now around 90.1. Oil dropped slightly, possibly due to news of the discovery of 4 new fields in Saudi Arabia.
Today, a vote is scheduled to increase payments within the aid package to $2000 per person, instead of the previously adopted $600.
There is also an article that answers the questions, who benefits from coronpsychosis, how it was inflated, what tasks were solved thanks to it, and what will happen next. Article by reference.
#Bitcoin ends 2020 well. Over the weekend, the maximums were updated several times, the current ATH is above 28450. At the same time, support at 26000-25900 is indicated on yesterday's correction. The capitalisation level of $700 billion has also been successfully taken.
If we take this analysis, which was made after Bitcoin took 20K, then something in between options 1 and 2 has been worked out.
On the one hand, Bitcoin took 25K and successfully consolidated higher, capitalisation of 700 billion was also achieved. On the other hand, the growth of altcoins is still very selective. Etherum and Litecoin have grown, Etherum has updated the highs of 2018, the rest of the alts from the TOP are still in the same place where they were with Bitcoin below 20K. #BTC dominance index exceeded 70% yesterday, but is not much lower now.
Everything is logical and understandable. The development of option 1 was prevented by the SEC hitting XRP, which was mentioned here. Since XRP was in the TOP-3, the situation hit altcoins in general, showing their vulnerability due to being tied to specific people and companies. Many XRP holders went out to Bitcoin, many simply sold other alts and bought Bitcoin.
Therefore, Bitcoin successfully consolidated above 25K and went to new highs, and the TOP alts lagged behind it significantly.
Yesterday the growth of Etherum began, taking 700 and moving on.
I think the rest of the top alts will move to growth, and the standard market cycle will be worked out.
The prerequisites for this are the absence of a new negative for XRP and a stable Bitcoin in the range of 26000-28000. In this case, the entire TOP will show powerful growth.
The main risk for XRP right now is delisting from major exchanges.
While this decision was made by the Bitstamp exchange, it concerns only US citizens.
If you want to make money buying up cheap XRP, but fear further negative effects on the asset, pay attention.
The CEO of Binance said that in Q3 2020, the number of corporate accounts increased by 60% compared to the previous period. This is what I was talking about here - information about public companies that bought Bitcoin is the tip of the iceberg.
People and companies who think faster than others have come to the topic for a long time, that's why they earned their money. We talked about a business man who sold a 60-room hotel this year and bought Bitcoin. He did it with Bitcoin between 9000 and 10000. One of our associates Communicated with him yesterday in real life, he says 2020 is the best year for him in the last 10 years in all respects).
Another Mexico’s second richest man says Bitcoin is his 'best investment ever' Ricardo Salinas Pliego, chairman at conglomerate Grupo Salinas and Mexico’s second richest man, has revealed to @Cointelegraph in an interview that he bought his first Bitcoin in 2013, when it was worth around $200. That, according to the billionaire, was his “best investment ever”. After holding it all the way until its 2017 highs, he sold all his pos
itions at $17,000 and bought it again later at a cheaper price. Now Salinas holds around 10% of his liquid portfolio in BTC and doesn't plan to sell any of it any time soon. "I want to sit around for another five or ten years", he said. While initially attracted by Bitcoin as a means of exchange, Salinas is now convinced that Bitcoin’s potential resides in its store of value features. Salinas also points out, Bitcoin is the natural result of the evolution of money, from physical to digital. “Bitcoin is bits and bytes in the ether, but the good thing is that it cannot be debased and it cannot be confiscated that easily”, pointed out Salinas.
With that I AM wishing you a good day ahead and remember this is not financial advice or investment recommendation. Must do your own research. #decryptedge
#Coinbase to Suspend XRP Trading Following #SEC Suit Against #Ripple.Thoughts on the market on 29.12.2020.
After a hectic weekend, #Bitcoin is consolidating in the 27300-26200 range. The corrections below were quickly redeemed, and it was not possible to go higher either. Currently trading at around 26,300. Total CryptoMarket capitalization of $702 billion and #BTC dominance index of 69.3%.
In stock markets, growth, US indices added from 0.68% to 0.97%. The S&P 500 closed at 3735.36, once again this year renewing highs. ATH also updated on Apple stocks.
The market was positively driven by news from the US House of Representatives, where they voted to increase payments to citizens to $ 2,000, instead of the initial $ 600. Today there will be a Senate vote, its success will push the markets even higher.
#Bitcoin is consolidating in the range of 26200-27300. After an unsuccessful attempt to take 27500, which was made last night, the main cryptocurrency has headed towards the lower end of the range and is now testing it for strength. Altcoins rallied well yesterday, but moved to fall overnight, on information about a possible delisting of XRP from the Coinbase exchange. Now confirmed.
The Japanese financial giant SBI Holdings announced its support for Ripple regardless of the resolution of the situation with the SEC lawsuit. SBI Holdings noted that the SEC lawsuit will not affect XRP's status in Japan, and the payment application based on Ripple technology will continue to work as intended, regardless of whether it uses this token."SBI Holdings will continue to actively support Ripple's activities in Japan and overseas," the company said.
Ripple and SBI Holdings partnered in 2016, creating the SBI Ripple Asia joint venture. In October of this year, a fintech startup backed up the collaboration with an undisclosed amount of investment. Previously, B2C2 suspended XRP token trading for US clients. Two weeks earlier, SBI Holdings acquired this institutional-focused OTC platform.
We still prioritize the option of stabilizing Bitcoin and the growth of altcoins, which I spoke about yesterday. As always have a blessed day ahead, remember this is not traditional investment advice, do not take it as financial advice. Must do your own research.
#decryptedge
After a hectic weekend, #Bitcoin is consolidating in the 27300-26200 range. The corrections below were quickly redeemed, and it was not possible to go higher either. Currently trading at around 26,300. Total CryptoMarket capitalization of $702 billion and #BTC dominance index of 69.3%.
In stock markets, growth, US indices added from 0.68% to 0.97%. The S&P 500 closed at 3735.36, once again this year renewing highs. ATH also updated on Apple stocks.
The market was positively driven by news from the US House of Representatives, where they voted to increase payments to citizens to $ 2,000, instead of the initial $ 600. Today there will be a Senate vote, its success will push the markets even higher.
#Bitcoin is consolidating in the range of 26200-27300. After an unsuccessful attempt to take 27500, which was made last night, the main cryptocurrency has headed towards the lower end of the range and is now testing it for strength. Altcoins rallied well yesterday, but moved to fall overnight, on information about a possible delisting of XRP from the Coinbase exchange. Now confirmed.
The Japanese financial giant SBI Holdings announced its support for Ripple regardless of the resolution of the situation with the SEC lawsuit. SBI Holdings noted that the SEC lawsuit will not affect XRP's status in Japan, and the payment application based on Ripple technology will continue to work as intended, regardless of whether it uses this token."SBI Holdings will continue to actively support Ripple's activities in Japan and overseas," the company said.
Ripple and SBI Holdings partnered in 2016, creating the SBI Ripple Asia joint venture. In October of this year, a fintech startup backed up the collaboration with an undisclosed amount of investment. Previously, B2C2 suspended XRP token trading for US clients. Two weeks earlier, SBI Holdings acquired this institutional-focused OTC platform.
We still prioritize the option of stabilizing Bitcoin and the growth of altcoins, which I spoke about yesterday. As always have a blessed day ahead, remember this is not traditional investment advice, do not take it as financial advice. Must do your own research.
#decryptedge
From the trading range of 26200-27300, Bitcoin went up and has been holding above 28K most of the last 8hours, clearly trying to retest the ATH. Total CryptoMarket capitalization at 742 billion and BTC dominance index of 69.9%
Equity markets showed a slight decline yesterday. American indices lost 0.22-0.23%. I think the reason is the pre-New Year profit taking, as well as the fact that Mitch McConnell (the leader of the Republicans in the Senate) slowed down the vote to increase payments to $ 2,000 instead of $ 600.
The dollar index is falling, oil is rising, gold is around 1890. S&P 500 futures are also rising.
Some news: India Considers 18% GST on Bitcoin Transactions. The Indian government is reportedly mulling over imposing an 18% goods and services tax (GST) on bitcoin transactions. According to the Central Economic Intelligence Bureau, the government could gain Rs 7,200 crore annually from this bitcoin taxation. The bureau told the Central Board of Indirect Taxes & Customs (CBIC) that the government could gain Rs 7,200 crore ($981 million) annually by taxing bitcoin trading. Quoting sources from the finance ministry, the publication detailed:
CEIB has suggested that bitcoins can be categorized under ‘intangible assets’ class and a GST levy could be imposed on all transactions. More on this via source: https://news.bitcoin.com/
Altcoins are still under pressure from the XRP story, which thwarted the classic Bitcoin rally-altcoin-rally-retracement market cycle. So far, from the TOP, only Etherum has shown significant growth, having reached the levels of January 2018.
XRP is still around 0.2. Coinbase and Okex will suspend trading at the beginning of the year, but this has already been worked out by the market. There will hardly be anything new on the part of the SEC in the first days of January. Therefore, I still consider the growth of altcoins and the fall of the dominance of Bitcoin to at least 66-65% as a priority option.
The conditions for this are stable Bitcoin and the absence of a new negative on XRP. In the last days of this year and early 2021, there is every chance of success. In the medium term, Ripple has every chance to find understanding with the new SEC composition. If they were chosen for the role of ritual victim, as he spoke about yesterday. Japan nonetheless will remain loyal to XRP, where there are crypto exchanges and volumes.
Therefore, I think that XRP is somewhere near its bottom right now. The main risk is if the creators themselves begin to drain the asset. They are unlikely to aggravate the situation so much.
So in closing: Bulls showed good stability and performance above $259XX in the last 3 days, Although we were tracking movement closely and saw this reversal from $26000 in the last 24H. We are looking for a sell-off very soon!!
Right now, bulls are testing $28XXX once again, a chance for Double Top or breakout. The entire movement is in favor of the bulls so by closing daily above this level the bulls can push up BTC to $30500/32500 easily, as the next resistance for btc .
Current Action: Wait and watch, if you hold or bought bitcoin from entries above 20k be sure you book some profit. Alternative options is an attempt to take 30K directly in the thin market or a correction towards 24K, are less likely, it will be considered next week.
As always wishing you a blessed evening, remember this is not traditional investment advice, do not take it as financial advice. Must do your own research. #decryptedge
Equity markets showed a slight decline yesterday. American indices lost 0.22-0.23%. I think the reason is the pre-New Year profit taking, as well as the fact that Mitch McConnell (the leader of the Republicans in the Senate) slowed down the vote to increase payments to $ 2,000 instead of $ 600.
The dollar index is falling, oil is rising, gold is around 1890. S&P 500 futures are also rising.
Some news: India Considers 18% GST on Bitcoin Transactions. The Indian government is reportedly mulling over imposing an 18% goods and services tax (GST) on bitcoin transactions. According to the Central Economic Intelligence Bureau, the government could gain Rs 7,200 crore annually from this bitcoin taxation. The bureau told the Central Board of Indirect Taxes & Customs (CBIC) that the government could gain Rs 7,200 crore ($981 million) annually by taxing bitcoin trading. Quoting sources from the finance ministry, the publication detailed:
CEIB has suggested that bitcoins can be categorized under ‘intangible assets’ class and a GST levy could be imposed on all transactions. More on this via source: https://news.bitcoin.com/
Altcoins are still under pressure from the XRP story, which thwarted the classic Bitcoin rally-altcoin-rally-retracement market cycle. So far, from the TOP, only Etherum has shown significant growth, having reached the levels of January 2018.
XRP is still around 0.2. Coinbase and Okex will suspend trading at the beginning of the year, but this has already been worked out by the market. There will hardly be anything new on the part of the SEC in the first days of January. Therefore, I still consider the growth of altcoins and the fall of the dominance of Bitcoin to at least 66-65% as a priority option.
The conditions for this are stable Bitcoin and the absence of a new negative on XRP. In the last days of this year and early 2021, there is every chance of success. In the medium term, Ripple has every chance to find understanding with the new SEC composition. If they were chosen for the role of ritual victim, as he spoke about yesterday. Japan nonetheless will remain loyal to XRP, where there are crypto exchanges and volumes.
Therefore, I think that XRP is somewhere near its bottom right now. The main risk is if the creators themselves begin to drain the asset. They are unlikely to aggravate the situation so much.
So in closing: Bulls showed good stability and performance above $259XX in the last 3 days, Although we were tracking movement closely and saw this reversal from $26000 in the last 24H. We are looking for a sell-off very soon!!
Right now, bulls are testing $28XXX once again, a chance for Double Top or breakout. The entire movement is in favor of the bulls so by closing daily above this level the bulls can push up BTC to $30500/32500 easily, as the next resistance for btc .
Current Action: Wait and watch, if you hold or bought bitcoin from entries above 20k be sure you book some profit. Alternative options is an attempt to take 30K directly in the thin market or a correction towards 24K, are less likely, it will be considered next week.
As always wishing you a blessed evening, remember this is not traditional investment advice, do not take it as financial advice. Must do your own research. #decryptedge
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Elon Musk Envisions Mars’ Economy Run on Cryptocurrency. Thoughts on the market as of 31.12.2020
#Bitcoin ends the year with a powerful finishing spurt. Highs were updated several times during the day yesterday and a new ATH was set above 29370 this early morning Kenyan time. Total Crypto Market capitalization is at 761 billion with a #BTC dominance index of 70.7%.
On the stock markets, the year ends positively too - the Dow Jones updated ATH, the Nasdaq rose 0.15%, the S&P 500 rose 0.13% to close at 3732.04. The dollar index set another low, close to the previous bottom in 2018.
Interesting news, #ElonMusk believes that Mars’ economy will be run on cryptocurrency. He said early this month that he is “highly confident” that his company Spacex will land humans on Mars “about six years from now.” The subject of cryptocurrency running Mars’ economy briefly came up on Twitter last week. AI researcher Lex Fridman tweeted, “Mars economy will run on crypto.” In response, Twitter handle Elon’s World suggested, “Marscoin.” Musk himself replied with just a “Yes.” Source | news.bitcoin.com
Bitcoin continues to hit highs. Events develop according to option 2( https://t.me/decryptedge/138) If we look at the picture of the market on December 20-21 (according to the Reviews), we see that at first the events developed according to option 1. Bitcoin was in a range, altcoins moved to growth.
The XRP story spoiled the party not only collapsed this asset, but also called into question all altcoins in general. The market understood their vulnerability and weakness to external pressure, and this once again highlighted the attractiveness of Bitcoin . Therefore, the entire altcoin either went down, or stayed in place (like Litecoin, which managed to grow before that), or showed a slight increase (like Etherum).
The alts are now crushed by the burgeoning Bitcoin. In a thin market and against the background of uncertainty with XRP, #Bitcoin looks much more promising.
I will not argue about the investment attractiveness of Bitcoin. In the current situation, you can buy it at any time, sell it in a year or two, and with a high degree of probability take 100-150% of the profit. But in trading you have to buy cheap. That's why I like some key altcoins now. Which ones? You may ask.
The market capitalization is above 760 billion and is approaching ATH, the dominance index is at its highs, all possible negative XRP has already been dumped, and it will hardly be much worse before the trial in February. In this situation, the priority is to work out the market cycle and the growth of altcoins. I think the first week of the year may well be the time of the altseason. This requires the stabilization of Bitcoin in the range of 28000-29300 for several days.
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
On the stock markets, the year ends positively too - the Dow Jones updated ATH, the Nasdaq rose 0.15%, the S&P 500 rose 0.13% to close at 3732.04. The dollar index set another low, close to the previous bottom in 2018.
Interesting news, #ElonMusk believes that Mars’ economy will be run on cryptocurrency. He said early this month that he is “highly confident” that his company Spacex will land humans on Mars “about six years from now.” The subject of cryptocurrency running Mars’ economy briefly came up on Twitter last week. AI researcher Lex Fridman tweeted, “Mars economy will run on crypto.” In response, Twitter handle Elon’s World suggested, “Marscoin.” Musk himself replied with just a “Yes.” Source | news.bitcoin.com
Bitcoin continues to hit highs. Events develop according to option 2( https://t.me/decryptedge/138) If we look at the picture of the market on December 20-21 (according to the Reviews), we see that at first the events developed according to option 1. Bitcoin was in a range, altcoins moved to growth.
The XRP story spoiled the party not only collapsed this asset, but also called into question all altcoins in general. The market understood their vulnerability and weakness to external pressure, and this once again highlighted the attractiveness of Bitcoin . Therefore, the entire altcoin either went down, or stayed in place (like Litecoin, which managed to grow before that), or showed a slight increase (like Etherum).
The alts are now crushed by the burgeoning Bitcoin. In a thin market and against the background of uncertainty with XRP, #Bitcoin looks much more promising.
I will not argue about the investment attractiveness of Bitcoin. In the current situation, you can buy it at any time, sell it in a year or two, and with a high degree of probability take 100-150% of the profit. But in trading you have to buy cheap. That's why I like some key altcoins now. Which ones? You may ask.
The market capitalization is above 760 billion and is approaching ATH, the dominance index is at its highs, all possible negative XRP has already been dumped, and it will hardly be much worse before the trial in February. In this situation, the priority is to work out the market cycle and the growth of altcoins. I think the first week of the year may well be the time of the altseason. This requires the stabilization of Bitcoin in the range of 28000-29300 for several days.
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
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#Bitcoin met expectations by the end of the year and updated its ATH. #decryptedge market thoughts spoke about the inevitability of this since July and many times in November when it became apparent.
The question is what will happen next?
It is clear that…
The question is what will happen next?
It is clear that…