Panic Sale Begins: Did you Buy in Because of Price? #FOMO or the Potential Disruptive Power of #Crypto. Thoughts on the market 11.01.2021.

#Bitcoin until mid of yesterday held above 40K, then followed by a correction to 39500-39600, it again declined, reaching lows below 35300, after which it is now trading between 36 and 37K. Total Crypto Market capitalization is at $1005 billion with BTC dominance index of 68.3%.
UPD. While writing this review, Bitcoin dropped to 35600, market capitalization fell to 970 billion.

Financial markets opened positively overall. Asian indices are rising, Brent is above 55, S&P 500 futures are down slightly. The dollar index is alarming, which opened with growth and reached 90.41 at a maximum, in case of further growth for the markets, this will put pressure on the markets.

On the crypto market this weekend, It worked out a version of the local altseason, which was discussed here (https://t.me/decryptedge/193). Market capitalization reached values ​​above 1.1 trillion, Ether went above 1340, most of the TOP altcoins showed good growth. Yesterday afternoon, Bitcoin went down. At first, support was lost at 39600, then on the second attempt they went below 37600, now trading below 35K, with lows about 33600. At the moment, the decline continues. I think this is a correction similar to the one a week ago (https://t.me/decryptedge/178).

The round bottom is at 30600-30500. It is not a fact that it will be achieved, but at the moment I see movement further unlikely. The new trading range will be clear after Bitcoin stabilizes. A return above 36K is required for continued growth. It's possible for it to hit 24K (Major support) / extend to 20K when you factor in panic selling, a bounce IF 32K support breaks. As you can see already on the news just by searching #Bitcoin on Google. From #CNBC, #Bloomberg etc.. Invest time and energy in learning the basic fundamentals. @Danheld one of the Bitcoin influencers says “To truly understand more so appreciate #Bitcoin you must have some grasp of: - Economics & Money - Open-Source Software - Computer Science - Game Theory - Politics and Law - Trading and Investing - Digital & Physical Security.” Seems a lot right..nothing comes easy. #Decryptedge is here to simplify and break it down for you.

Interestingly, #EOS founder Daniel Larimer has left. He says the reason is because he doesn't believe in providing "freedom as a service." But it is clear that the reason is more prosaic - not otherwise, he feels something behind him and fears attention from the SEC. However, he had previously left projects after the sale of coins to investors. Steem and Bitshares are also his projects.

This is not financial advice, analysis and market thoughts is to give you an idea about Bitcoin price movement (not buy or sell advice) so before following any idea be sure to do your own research, and follow your risk management. The information we share here is an effort and view from where we sit. It is subject to success or failure and we welcome constructive criticism 🙏.

The morning drain was stopped at 32900, briefly reaching a minimum of 32600. The drain was bought out, Bitcoin went up, and has been trading above 35K for 2 hours.

What will happen next?

In favor of a fall:

-Long rise, greed index at highs for 2 months.
-The dollar index began to grow, it has been growing since 8.01. If the growth continues, this will put pressure on Bitcoin.
-Capitalization fell below $ 1 trillion.

Give a lift to FUD(fear uncertainty and doubt) in particular, the British bank #HSBC is blocking transactions from crypto-exchanges.

In favor of growth:

The correction was quickly redeemed from 32600. The previous low was at 27600. Highs were being renewed all week.

-On January 14, Biden unveils a new trillion dollar economic bailout plan for lawmakers. If it is adopted (and with the dominance of Democrats in Congress and the Senate, it is unlikely to be otherwise), #Bitcoin will have no other path but to new highs.

-With the fall of Bitcoin, the alts fell, but there is no panic drain.
Etherum is now around $1100, Litecoin is above 140, BCH is above 500, and NEO is near the highs. The dominance index is 68.7% (it was about 70 a week ago, and 72% last weekend).

If the altcoins don't drain, there is no real fear in the market. The situation will change if Bitcoin goes below 30K.

For today, we consider the (1)movement of Bitcoin in the range of 32900-36000 as a priority option. (2). Leaving above 36K with consolidation - transition to growth. (3).Updating lows below 32600 will most likely lead to a test of 30600-30000, further depending on the reaction to the level. If you prioritize the options, then 1-2-3. #Decryptedge.

During yesterday's session #Bitcoin fell to $30,050. The correction was bought out, Bitcoin went up, reached $35400, and during the last 2 hours has declined again to $34000-33800. At the time of this writing, Bitcoin is trading around 34,000. Market capitalization is 918 billion, dominance index is 68.7%.

American markets were declining yesterday, indices lost from 0.27% (Dow Jones) to 1.35% (Nasdaq). The S&P 500 shed 0.66% to close at 3799.61. Tesla shares are down more than 8%.

Interestingly, the stocks of companies that blocked Trump supporters suffered the most - Twitter lost 6.92%, Amazon 2.15%, Google 2.31%, Apple lost 2.45%, Facebook lost 4.1%. This is logical - it is obvious that after this situation, many people and companies around the world will reconsider their attitude to social networks and related services. Not because of Trump and his supporters, but because of the realization that their personal data and business development are completely dependent on who knows who and in whose interests the managed structures.

On the crypto market, yesterday's analysis generally worked out. Spilled lower than expected, but the bottom at 30500-30600 was confirmed, after which the price returned above 33K and now the boundaries of a new trading range are being set. So far, I see support at 31600-32200 and resistance at 35400-35800.

Exit down - retest the bottom at $30600-30500, exit up and consolidation above 36K - continued growth. The latter option is more likely. The bottom is still at 30500-30600; intermediate support at $33800-34000 has also formed. TOP alts are moving to growth, Ethereum has confidently returned above 1000 and is approaching $1100, Litecoin and BCH with XRP are next.

The market was pressed yesterday by the growing dollar index, which reached its highest since the beginning of the year and continues to grow, as well as the FUD from the British regulator FCA, which decided to warn crypto holders about the need to be prepared to lose all their money. We shared about this((https://t.me/decryptedge/202).

In general, various kinds of regulators are evil and parasites on the body of the world economy, which spend huge resources on making it difficult for people and companies to manage their assets. In crypto, regulators are the main source of risks and financial losses. Speaking of regulators, you cannot fail to talk about taxes. Here’s a list of the most crypto-friendly tax jurisdictions, updated for 2021. Source | Decrypt.

1. Belarus may be a Bitcoin tax haven but it's also been the site of mass protests over rigged elections in recent weeks. The country was recently ranked third in Eastern Europe and 19th globally in levels of P2P crypto trading.

2. Germany. For German residents, any cryptocurrency held for over a year is tax-exempt, regardless of the amount. If the assets are held for less than a year, capital gains tax doesn’t accrue on a sale, as long as the amount does not exceed 600 euros ($692).

3. Hong Kong. It isn't a country per se, but a Special Administrative Region of China, with theoretical autonomy over its own affairs. And Hong Kong’s tax legislation on cryptocurrencies is a broad brush affair, even after new guidance was issued earlier this year.
Essentially, whether cryptocurrencies are taxed or not depends on their use, according to Henri Arslanian, a global crypto leader at #PwC.

4. Malaysia. Cryptocurrency transactions are currently tax-free, and cryptocurrencies don’t qualify for capital gains tax, because digital currencies are not considered assets or legal tender by the authorities.

5. Malta. The government of the so-called “Blockchain Island” recognizes Bitcoin “as a unit of account, medium of exchange, or a store of value.”
Malta doesn’t apply capital gains tax to long-held digital currencies like Bitcoin, but crypto trades are considered similar to day trading in stocks or shares, and attract business income tax at the rate of 35%. However, this can be mitigated to between five percent and zero, through “structuring options” available under the Maltese system.

6. Portugal. It has one of the most crypto-friendly tax regimes in the world. Proceeds from the sale of cryptocurrencies by individuals have been tax-exempt since 2018, and cryptocurrency trading is not considered investment income (which is normally subject to a 28% tax rate.) However, businesses that accept digital currencies as payment for goods and services are liable to income tax.

7. Singapore. Capital gains tax does not exist in Singapore, so neither individuals nor corporations holding cryptocurrency are liable. But companies based in Singapore are liable to income tax, if their core business is cryptocurrency trading, or if they accept cryptocurrency as payment.

8. Slovenia is another country that treats individuals and businesses separately under its cryptocurrency tax system. No capital gains tax is levied on individuals when they sell Bitcoin, and gains are not considered income. However, companies that receive payment in cryptocurrencies, or through mining, are required to pay tax at the corporate rate.

9. Switzerland. It’s no surprise that Switzerland, home to the innovation hub known as “#CryptoValley”, has one of the most forward-thinking tax policies too. Cryptocurrency profits made by a qualified individual through investing and trading are treated as tax-exempt capital gains. However, income from professional trading and mining is subject to income tax.

10. Bermuda. It doesn't impose taxes on digital assets. Another type of country that doesn't tax cryptocurrency gains, of course; tax havens where digital assets aren't singled out for special consideration, but which have a blanket low-tax regime.

Where is Kenya you may ask.. ? Before I answer that let me close with these thoughts, by the end of the week the market capitalization will return above 1 trillion. This option is almost inevitable if #Biden successfully presents a new support package to legislators on January 14, which again refers to trillions of dollars injected to the economy. For the exact #bitcoin levels follow: https://t.me/decryptedge Lastly the Kenyan Government does not regulate cryptocurrencies despite KRA’s push to the CBK to recognize these assets for revenue collection purposes.

This is not financial advice, analysis and market thoughts is to give you an idea about Bitcoin price movement (not buy or sell advice) so before following any idea be sure to do your own research, and follow your risk management. The information we share here is an effort and view from where we sit. It is subject to success or failure and we welcome constructive criticism 🙏.

Good evening. #Bitcoin moved in the range of 32560-36500 yesterday.
An attempt to gain a foothold above 36K has not yet succeeded,later moved to a decline, and, after testing the lower border of the range, it is now trading at about 33450. Total Market capitalization is 904 billion, dominance and BTC index is 68.3%.There is little growth in the stock markets. American indices rose from 0.19% to 0.28%. The S&P 500 closed at 3801.19. The dollar index is again below 90. Oil is growing, BRENT is already above 57 and continues to rise. Asian indices are now rising, S&P 500 futures are near yesterday's close.

On the crypto market, Bitcoin was unable to gain a foothold above 36K, after which it tested support at 32600, and has been trading around 33K for the last few hours. The dominance index rose slightly, the market capitalization of about $ 900 billion.
The fear index fell to 78 for the first time since early November. It's still a lot, but avoiding extreme values ​​is useful for the market.
The consensus on growth is leaving the market, fans of shorting Bitcoin come to life, if there are still any, talk about the future crypto winter begins. This is beneficial for medium-term growth, it becomes stable and organic.
The market picture resembles the beginning of September, when, after an unsuccessful attempt to gain a foothold above 12K, Bitcoin fell to 10,000-9800.

Interesting note: SBI Holdings, a large Japanese company and partner of Ripple, announces the beginning of a partnership with the large Japanese bank Lawson Bank.Now the bank's clients can use the ATM network for instant money transfers, including international ones. Featuring Ripple. And the UK Treasury Department classifies XRP as an “exchange token” (the same thing, in their understanding, as Bitcoin and Ether). Hello to the SEC and to those who sold XRP below 0.2.

In an interview at a Reuters online event Wednesday, Lagarde said the “highly speculative asset” has led to "some reprehensible activity," including money laundering, and any loopholes need to be closed, according to a report from Reuters. “There has to be #regulation. This has to be applied and agreed upon ... at a global level because if there is an escape that escape will be used,” she said. The EU central bank chief added there will be a digital euro, hopefully in no more than five years, according to other reports. The ECB has been looking into the benefits and risks of a euro-based digital currency since the Facebook-backed Diem (formerly Libra) project was announced in June 2019. Source | Coindesk.

Look at our post yesterday, we laid out the top 10 countries that are crypto friendly(https://t.me/decryptedge/206) regulating #Bitcoin will be a herculean. With its pseudonymous qualities it will take a while or better play by the people’s rule. As Andreas M. Antonopoulos would say: Rule without Rulers!

In closing our previous analysis is relevant - the bottom is at 30600-30500, Bitcoin is 32-36K, 1 trillion of capitalization by the end of the week.

This is not financial advice, analysis and market thoughts is to give you an idea about Bitcoin price movement (not buy or sell advice) so before following any idea be sure to do your own research, and follow your risk management. The information we share here is an effort and view from where we sit. It is subject to success or failure and we welcome constructive criticism 🙏.
#decryptedge.

From the 32-36K trading range, Bitcoin went up, consolidated above 36K, and reached a high above 38230. After that, there was a correction to 36800; it was quickly redeemed, and now Bitcoin is trading at 37400-37500. Total Crypto Market capitalization 1003 billion, dominance index 69.2%

The main news yesterday is Trump's impeachment, which the House of Representatives announced a week before his term expired. Now it must be approved by the Senate, where two-thirds of the votes are needed to confirm the accusation, which is hardly possible. So far, the leader of the Republicans in the Senate, McConnell, refused to even convene the Senate on this matter, and the issue will be considered after Biden's inauguration.

American indices reacted to this in a generally positive-neutral way. The Dow Jones fell 0.03%, the S&P 500 rose 0.23%, the Nasdaq added 0.43%. The FRS said that it is too early to even talk about any reduction in stimulus, and they will continue to flood the economy with money.

Already today the markets are awaiting the announcement of the plan from Biden, which provides for immediate payments to the population. Later there will be a plan for infrastructure. The expected volume is about 2 trillion this ought to ring some bells! The Asian indices are growing, futures for the S&P 500 are practically in place, the dollar index is holding above 90, oil and gold have declined.

The cryptocurrency market is working on the analysis that was given at the beginning of the week (https://t.me/decryptedge/206). The bottom at 30,500 was confirmed, then went up from the 32K-36K range, capitalization of 1 trillion. reached by the end of the week.

While the growth in capitalization was due to the growth of Bitcoin, the dominance index rose, altcoins retained their growth potential. If Bitcoin holds above 37K, and altcoins realize this potential, Bitcoin has every chance to go back above 40K again.

The head of the SEC will be Gary Gensler, who was previously the head of the CFTC. He is known for his loyalty to cryptocurrencies, in particular, he supported the idea of ​​Libra. According to Reuters’ two unnamed sources, Biden has finally decided on his final pick to lead the SEC, following the stepping down of Jay Clayton as chairman in December. Gensler is a well-known figure in the crypto industry, specifically in the academic sphere.

How Will the Legal Fight With Ripple Be Resolved With Gensler as Chairman? Under the leadership of Gensler, the SEC vs. Ripple saga could have a negative impact for the blockchain firm due to the previous statements made by the former banker.
During a speech at an MIT conference in 2018, Gensler said there is a “strong case” for XRP being classified as a security. In fact, the Wall Street veteran claimed that Ripple “is doing a lot to advance the value of XRP.” Source | News.Bitcoin.com

Lastly as shared yesterday the head of the ECB Christine Lagarde said that Bitcoin needs regulation, because it became the basis for the operation of "fun business and completely reprehensible money laundering operations." In my opinion, it is much more funny when people place money at negative rates, i.e. pay the bank to use their money. Or they buy government securities on the same terms.

Is Crypto Regulation good or bad? I will write about this later today.

As always, wishing you 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.

During the last 24hrs, #Bitcoin continued to grow, a high was reached above 40180. It was not possible to consolidate above 40K, BTC then has been trading in the range of 38600-39500 for more than 8 hours. UPD. While writing the review, Bitcoin has since dropped to 38,000. Total Crypto-Market capitalization is at 1044 billion and #BTC dominance index 68.6%.

Equity markets closed lower yesterday. Dow Jones lost 0.22%, Nasdaq fell 0.12%, S&P 500 lost 0.38% to close at 3795.54. Biden proposed a $ 1.9 trillion stimulus package. Of these, 1 trillion. will be distributed to the population, the rest will be directed to stimulate the economy.

And that's not all - in February, Biden will also provide a project for public investment in infrastructure projects. Direct payments to the population will be increased from 600, which were approved earlier, to 2000.

To some serious matters about #Bitcoin security. Stefan Thomas , a German programmer based in San Francisco, forgot a password that would allow him to access 7,002 bitcoin, which could be worth $ 220 million this week. According to The New York Times , the password will allow Thomas to unlock a small hard drive, called the IronKey, which holds the keys to a digital wallet containing 7,002 bitcoin. Thomas lost the document where he wrote the key to his IronKey years ago and so far he only has two attempts to gain access. Otherwise, the device will encrypt your content forever. Source | https://www.entrepreneur.com/ I urge everyone following our channels and anybody out there looking to onboard the #Cryptoverse: Take and handle the issue of passwords seriously. If not sure where to start and how?. #Decryptedge got you covered.

By and large the crypto market, it is more and more positive - Bitcoin held above 37K, again entered above 40K, although it could not gain a foothold, the market capitalization is confidently holding above 1 trillion. For continued growth, if not a positive, then at least a neutral external background, and Bitcoin holding above 37K. If these conditions are met, at the weekend we will see an increase in alt coins, a fall in the dominance index to 67-66%, and renewed highs in capitalization.

Such a positive scenario can be hindered by a significant negative in the stock markets, FUD or some real negative in the crypto markets. As I said yesterday, the main source of negativity in the crypto market is regulators. "Investor Defenders" are the main threat to the assets of participants in the crypto market, as at any time they can collapse the value of the most promising crypto asset or even close a project by their actions. Will share the write up titled: Is Crypto Regulation good or bad?


Today FUD around #USDT is possible due to the next "deadline" for submission of documents.

If Bitcoin does not hold above 37K, a return to the previous range of 32000-36000 is likely. For growth to new highs, #Bitcoin needs to return above 38600.

With that I wish 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.

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