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.

*DECRPTY EDGE* is inviting you to a scheduled Zoom meeting.

Topic: *DIGITIZATION SHIFT ..... WHERE ARE YOU?*
Time: *Jan 16, 2021 09:55 AM Nairobi*



TODAY on *BITCOIN101* - Let's learn about...
*-#Keep Your Cryptos Safe - Basic Security Precautions.*
*- Crypto-Markets news and updates.*
*- Open Q & A session.*


Join Zoom Meeting
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#Bitcoin did not stay above 37K and in the American session returned to its previous trading range of 32000-36000. A few hours ago, #BTC left this range, reached highs above 37,500, and is now trading around 36,200. Total Crypto-Market capitalization is at 1001 billion and BTC dominance index of 67.6%.

Stock markets were falling yesterday. American indices lost 0.57% (Dow Jones) to 0.87% (Nasdaq). S&P 500 down 0.72% to close at 3768.25. Oil shed 2.8%, Brent is below 55, and gold is trading around 1827.

The reasons for the fall in the markets are negative economic statistics, which came out yesterday in the United States, as well as new sanctions against Chinese companies by the United States, which also fell under Xiaomi. By November 11, US citizens must get rid of the shares of companies that have come under sanctions. The dollar index renewed its annual high and closed at 90.78

The growth of the dollar index and the negative on the stock markets did not allow Bitcoin to stay above 37K, so yesterday it worked out the option with a return to the previous trading range of 36K-32K. At the same time, Bitcoin did not fall below 34,478, the correction was quickly redeemed, the price returned above 35K, at night it even went above 36K and began to grow. For further growth, it is necessary to gain a foothold above 37K. There was an attempt last night, but the price was pushed down from 37500.


The Federal Reserve chairman called the Fed's priority to regulate stablecoins. Jerome Powell described the central bank's work on stablecoins as a "very high priority" during a webinar on Thursday. "Clearly there's a need for, and we've been very focused as you know, on better regulatory answers for potential global stablecoins, in particular," Powell said during a segment that focused in part on central bank digital currencies (CBDCs) as well. His comments indicate that the Fed's stablecoin strategy is still in flux and that it sees the need to both chart out potential risks and how to mitigate them. Powell’s comments come nearly a month after the White House released a report recommending to limit multi-currency stablecoins. Federal Reserve governor Lael Brainard also mentioned previously that such stablecoins raise “fundamental questions about legal and regulatory safeguards, financial stability, and the appropriate role of private money.” This is understandable - the Fed wants to reserve the ability to generate money out of thin air exclusively. Source | https://www.theblockcrypto.com/

Back in December 5th 2020 (https://t.me/decryptedge/114) we shared on how Kenya’s CBK was into discussion with global players.

In closing and as I wish you a good weekend ahead: the priority option is Bitcoin in the range of 36000-37800, and the growth of altcoins. In this case, the entire TOP will grow.

An alternative option is to return below 36K. In this case, altcoins can grow selectively, if Bitcoin does not go below 35K, the dominance index approaches 67-66%, where the current market cycle may end.

This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge.

Is Crypto Regulation good or bad?

Part 1:

Quite often, you come across statements that in order for the crypto to be unconditionally accepted and taken in by everyone, it must be regulated. That this is exactly what the crypto lacks for complete and unconditional success.

This is a mistake. Regulation and decentralization are mutually exclusive concepts. If crypto is regulated, then AML / KYC requirements are inevitable, because there can be no regulation and official recognition without identifying the payer. And then it is not far from the blocking of accounts. In Bitcoin itself, of course, this is impossible, but at the exit to fiat, they may well, at least, try.

One of the important reasons why crypto is gaining widespread acceptance is censorship resistance.

Talking recently with one banker on the topic of crypto regulation, I emphasized that many people left Bitcoin precisely because they do not want to be somehow limited in the right to dispose of or liquidate their assets. It is strange to expect that the regulation of the crypt will add to its popularity..

Let's look at examples of a regulator's actions: SEC: as reported by: https://www.wsj.com/articles/secs-settlements-with-some-cryptocurrency-firms-showing-cracks-11573729200

In short: companies held an ICO in 2017, created a product and developed. The SEC charged them with a violation of the securities law and imposed a fine and an obligation to return the money to investors. The money was spent on the product and cannot be returned. In the future, the bankruptcy of companies, their tokens will remain for investors as a souvenir, and the next wave of information slops will be poured onto the crypto industry. As a result, there will be neither a product for which the money was collected, nor money. Normally, this is how investors were protected.

The situation when some obscurantists try to regulate the crypto industry on the basis of the 1933 Central Bank law does not correlate well with logic and common sense. KYC/AML terms tries to bridge the identity gap so lets not exclude the requirement to bind the Bitcoin wallet to a passport or I. We have seen this orchestrated by one of the biggest and oldest US based exchange coinbase. Last year Coinbase provided the IRS documents for any user with at least $20,000 of any one type of transaction: buying, selling, sending, or receiving digital currencies, in any one year between 2013 to 2015.
This means that if you bought $20k worth of crypto in 2013, 2014, or 2015, or if you received at least $20k of crypto to your Coinbase wallet in one of those years, then Coinbase submitted your information to the IRS. The information provided to the IRS is as follows:
👉🏾Taxpayer ID number
👉🏾Name
👉🏾Birth date
👉🏾Address
👉🏾Transaction logs, post-transaction balance, names of parties in the transaction
👉🏾Periodic statements of accounts and invoices.

If you were trading crypto on #Coinbase between 2013 and 2015, then Coinbase may have provided your information to the IRS. Even if you were trading smaller amounts of crypto at a time, your total transaction value could have exceeded the $20k threshold if you had many transactions. I would not be surprised at all if regulation in other countries even Kenya takes such forms. .. Part II is coming up.

Part II. Let's talk about "investor protection"

1. When an investor believes that he is protected by a third party (regulator, government, etc.), his brain often turns off. A normal investor should evaluate any investment proposal in terms of profit, risks, as well as the presence of non-market risks (closure of a broker or exchange, the likelihood of fraud, the likelihood of theft and the consequences of such an outcome for his portfolio). Some investors as the norm have a strong belief that if the exchange has a license, if the broker is regulated, if the advertisement was shown on TV, and even some famous person said that, he also invests. Because then everything is ok, checked and reliable.

It is clear that often such an investor will be disappointed. I would say that when judged by such criteria, he will always be disappointed. The correct approach, in my opinion, is to protect low-income people (but they are unlikely to invest in crypto), and banks. Perhaps the stock market, since strategic enterprises are traded there, is the investment attractiveness of the state and its economic security. Everything else (forex, crypto, startups) should be regulated exclusively by the market. Investors in such areas do not go for 10% per annum, they go for excess profits.

Why do they need protection? Those who make the right decisions earn, those who make the wrong ones lose. Those who make the wrong decisions often lose money and leave the market.
Super-profitability cannot and should not go to everyone. This is contrary to logic, common sense and the laws of economics.

What happens if major countries ban Bitcoin?

I'm only talking about countries that really affect the world economy, because the ban on Bitcoin in Egypt or Uzbekistan has no effect on the market. The United States and the United Kingdom have adopted friendly laws on digital assets, and bitcoin is no longer in the legal field.

What will happen?

First - a fall in $ value price due to panic. People will start to sell off in fear that all is falling and collapsing, the popular term used here is the bubble burst. As a ripple effect more and more falls, like a dominos block. I do not exclude a new bottom below $3000 in this case. Highly unlikely but probable.

People who understand the value of #Bitcoin with uncontrolled printing of fiat and the increasing total control by banks and various fiscal authorities will not sell it anyway. Whoever has the opportunity will actively buy, and at some point Bitcoin will stabilize.
I think it will be in the range of at least 2-4K. And maybe 5-6K, if leaders of other countries have a sound mind, forward thinking, courage and character: they may reap big.

Then the fun begins.

Banning Bitcoin means that it will not be on the CME, and crypto derivatives exchanges will close, or switch to trading in real coins.

Crypto derivatives are the only reason why Bitcoin is not yet worth $ 100K, because they allow increasing the supply on the market to any value without actually owning Bitcoin.

How crypto derivatives affect the market we can talk about this later. If you are not subscribed to our channel, first follow this link: https://t.me/decryptedge

Remember how Bitcoin grew back in December 2017. Let's imagine what will happen when, given the current level of awareness of Bitcoin, with current inflationary expectations, with a demand for a financial instrument that allows you to maintain anonymity, derivatives disappear from the market. Within 6-12 months, Bitcoin will take another ATH, and then it will not have reverse gear at all. We are already at $41,940, big names and banks like Chamath and JP Morgan are already saying 200K, 149K for 1 BTC.

#FOMO from the crowd, caused by constant growth, will drive it to unprecedented heights, and the official structures will have nothing to put pressure on the price. An asset that is constantly growing in conditions of inflation will be ready to buy in the gateway.

Moreover, those who criticize it will also want to buy it.

Exchanges will remain only in a gray zone, without any AML / KYC, which will make Bitcoin even more attractive for many. Oddly enough, in this scenario, it will reach 100K even faster.

The downside of this scenario is its low probability. The same States are well aware that everything will be the way I described it, therefore they will prefer attempts to regulate and control the market through a series of official exchanges, as well as retain the opportunity to influence prices through CME and regulated exchanges.

Switzerland or Germany are unlikely to agree to ban Bitcoin even under American pressure. China will seize the initiative and become a global crypto leader, as of writing this they are in this path. Taking lead.

The financial future belongs to crypto. Part III loading..

Verified Twitter accounts hacked in $580k ‘Elon Musk’ crypto scam: Thoughts on the market on 18.01.2021.

#Bitcoin on Saturday could not take 37800, despite several unsuccessful attempts to do so. It corrected to a low of 33863, after which buyers joined and for the last 12 hours Bitcoin has been trading in the range of 35600-36800. UPD - while writing this review, we switched to 35000-35200. Market capitalization 1010 billion, dominance index 66%.

On the stock markets, there is no certainty with further movement - the dollar index remains around 90.750, just like at the close on Friday, gold slightly decreased, oil has already lost about 1% since the market opening. There are no trades on the American market today, so it is unlikely that anything significant will happen on the markets. The movement of the dollar index will make it clear how the US markets will open tomorrow.

On the crypto market, the dominance index dropped to 66%. We previously designated the 65-67% zone (https://t.me/decryptedge/193) as an indicator of the possible completion of the market cycle.

What will happen next?

1. Sell off of Bitcoin below 30K, falling market capitalization by 30-40%, and several months of consolidation. It has always been that way, however dynamics have changed, for a number of reasons. This option is not the most likely.

We will not exclude a breakdown of support at 30500-30600 (especially against the background of some kind of FUD about the next ban on Bitcoin), but I think that all those who can reason such a correction is as an opportunity, the price below 30K will not stay long. Weak hands will give away #Bitcoin bought above 35K and will suffer. The development of this option will be similar to the September correction for a couple of weeks. Everyone remembers what happened next.

2. Consolidation of Bitcoin in a wide range of 32600-37800, with possible correction to 30K and attempts to take 40K. The process can take several weeks, or maybe months. Something like it was in June-July 2020 between 9000 and 10500.

3. Bitcoin is fixed above 40K until the end of January, market capitalization is fixed above 1.1 trillion, we go to a floor above.

In terms of likelihood, I would arrange these options as follows: 2-3-1.
The appearance of some significant negative (negative for XRP, for USDT, FUD about the ban on Bitcoin, etc.) can increase the likelihood of option 1

To some news UBS Bank warned clients that investing in Bitcoin could lose all their money. Earlier the British regulator did the same. The only question is that those who hold fiat are already losing money.

Losing money and freebies. Humans love free stuff..yet we know nothing is for free, right? There is nothing new about cryptocurrency scams on Twitter, especially ones pretending to be giveaways from Elon Musk. In 2018, scammers raked in $180,000 using a successful Elon Musk giveaway scam promoted on Twitter. Over the past week, security researcher MalwareHunterTeam has seen an uptick in verified Twitter accounts hacked in a scam promoting another fake Elon Musk cryptocurrency giveaway. The tweets will contain links that redirect to Medium articles promoting the fake giveaway. The articles contain further links to the scam landing pages that state if you send bitcoins to the listed address, they will send you back twice the amount.

While most of these tweets are using Elon Musk as their theme, some of the hacked accounts are also promoting fake giveaways from Tyler Winklevoss of Gemini Exchange. It is essential to understand that Elon Musk, Tesla, Gemini, or the Winklevoss twins will not send you cryptocurrency and that all these giveaways are scams. Source | bleepingcomputer.com/

Best weapon is to arm yourself with information and awareness. #Decryptedge got you covered.

Wishing you a good night 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