Square goes even bigger on #bitcoin with a new $170 million investment. 3,319 coins at an average price of $51,236 per coin. Thoughts on the market on 24.02.2021.

#Bitcoin updated its lows at $45,000 during the day. The correction was quickly redeemed and Bitcoin moved to growth, confidently established itself above 48K and is now trying to take 50,000. At the time of writing this review, there have already been three attempts to return above this psychological level. #Bitcoin is currently trading at around 50,100. Total Crypto Market capitalization is at $1,504 billion and BTC dominance index of 61.6%

Stock markets received support from Powell, who once again confirmed the immutability of the Fed's policy in terms of generating new money. He reiterated that there is still a long way to go to achieve targets on the labor market and inflation, the Fed will not raise the rate until full employment and excess of 2% inflation are confidently achieved.

The statement supported the markets, but the S&P 500 could not return above 3900, closing at 3881.37. The dollar index is now falling and has every chance of going below 90, oil, gold with silver and S&P 500 futures are practically in place, Asian indices fell.

Bitcoin fulfilled yesterday's forecast (https://t.me/decryptedge/326). After confirming support at 45000-45500, which was tested three times, Bitcoin moved to growth, consolidated above 48K. Obviously, while the panic sellers were dumping #Bitcoin below 50K, the big players used the situation to buy.

Square, owned by the founder of Twitter, bought 170 million worth of Bitcoin, and the first 50 million were invested in Bitcoin in October 2020. Elon Musk may soon have his say. Tesla shares have been falling for two weeks, yesterday they closed below 700. There are objective reasons for this - and increased competition from other manufacturers, and a shortage of batteries, and a forced decline in prices for some models. Musk has a good move left, in my view, he can buy Bitcoin for another 1-2 billion, which he is quite capable of, announce on Twitter that he is going to buy more or invest Tesla's reserves in the Bitcoin, thereby sending Bitcoin above 60K, this will ensure a reversal of Tesla shares to new highs. He may very soon pull a fast one like that.

Today expect Bitcoin in the range of 48000-52000, if it fixes above 52K, a transition to the range of 52000-55000.

Wishing you a blessed afternoon ahead and remember this is traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge

It was #Twitter now its #MicroStrategy again Betting Another $1B on Bitcoin. Thoughts on the market on 25.02.2021

#Bitcoin was in the range of 48050-51350 during the last 24hrs. There were three attempts to gain a foothold above 51K, that did not lead to success, the correction to 48K was quickly redeemed, at the time of writing this review, #Bitcoin is trading at about 49800. Total Crypto Market capitalization is at $1.512 billion, dominance index 61.7%

Equity markets went up after several days of weakness. Dow Jones up 1.35%, Nasdaq added 0.99%, S&P 500 up 1.14% to close at 3925.43. Oil has returned to growth and is already above 66, industry and the oil sector are growing, tech giants have not yet switched to growth. Gold is below 1800 again and silver is rising. The dollar index did not go below 90 yesterday, but it still has chances to do so today. Asian indices and S&P 500 futures are currently on the rise.

On the crypto market, yesterday's forecast fully worked out. #Bitcoin remained in the indicated range of 48000-52000. The lower border of the range was tested at night, and it is still not possible to gain a foothold above 51K.

Today’s priority option for #Bitcoin in the previous range of 52000-48000 with a possible move to a floor higher, in the range of 52000-55000. I think there will be no significant changes until tomorrow's expiration. Altcoins are showing weakness in anticipation of a denouement in Bitcoin and a resolution of the situation in XRP. If nothing unexpected happens, then their time will come by the weekend.

It is somewhat alarming that, against a good external background, Bitcoin cannot even gain a foothold above 50K. I think that this is a set of positions and the price is just being held back, not allowing it to go above 50600-50800. The correction to 45K was too fast, many did not even have time to get scared. The greed index fell from 90 to 74, but it's still extremely high. For growth, more uncertainty is needed, the bulk of market participants must wait for Bitcoin much lower, and the weak hands must go short and then suffer. Once 52K level is achieved then 55K can be successfully taken before going to new highs. This is the most likely scenario for next week.

The story with Bitfinex and Tether which we mentioned many times, has been completed (https://t.me/decryptedge/219). The billion-dollar issue ended with a fine of $ 18.5 million, a ban on operations in New York, and an obligation to provide a report on USDT collateral.

On the one hand, this is good, since one of the important threats hanging over the crypto market has been removed. On the other hand, it is possible that Tether will no longer generate USDT so actively, because the news did not cause an explosive growth in the market immediately after the news was released (and it was published on February 23rd). However, this is an unambiguous positive. Bitcoin has enough growth opportunities even without USDT. In the story with Bitfinex and Tether, the loot clearly defeated evil. Let's see how Ripple does the same.

Yesterday it was twitter now MicroStrategy announced the next purchase of Bitcoin for 1.026 billion. The average purchase price was more than 52,700 per 1 BTC. They don't think it's expensive. The company's shares rose more than 18% yesterday. Some market participants continue to wait for Bitcoin at 20K…


Tesla shares moved to growth, adding more than 6% yesterday. A good pattern is emerging for public companies who bought Bitcoin - said this, adding that you are not going to stop, Bitcoin is growing, the company's shares are also, with the capitalization of the same MicroStrategy at 7 billion, a 10% increase in shares is already 700 million. A 10% increase in Tesla shares is already +70 billion. MicroStrategy and Tesla will soon have followers. (https://t.me/decryptedge/299)

On that high note of expected institutional FOMO, have a blessed day ahead and remember to do your own research; this is not traditional investment of financial advice. In #Cryto expect anything. #decryptedge

Bitcoin Rally Sends 3 Signals to Governments. Thoughts on the market on 26.02.2021

Yesterday before the start of the American session, #Bitcoin did not fall below 48800 it even reached highs above 52K. After which Bitcoin went down and reached lows below 46K, at the time of writing this review it is trading around 45800-46000. Total Crypto Market capitalization is at $1.428 billion and BTC dominance index of 61.7%.

Stock markets saw a correction. The Dow Jones went down by 1.78%, the Nasdaq fell 3.46%, the S&P 500 fell 2.45% and closed at 3829. The tech sector suffered the most, only Twitter hit highs, and everything was falling quite briskly.

Markets do not believe Powell and other speakers from the Fed, who have been declaring since the beginning of the week that monetary policy will not change, that we will print and print money, we are not afraid of inflation. They believe the rising rates on US Treasuries, which have already risen to 1.45%, and this puts pressure on the markets.
Now futures on the S&P 500 are in the red again, Asian indices are falling, oil and gold are heading down. If today the markets are not given a significant reason for growth, there is every chance of seeing the S&P 500 in the 3750 area.

Yesterday Bitcoin was confidently on the path to success reaching highs above 52K, but the correlation with the stock market summed up, which sent it below to the support level at 48K. We just said yesterday that for good growth it is necessary to add uncertainty and fear to the markets. So far, however, it is not particularly scary - and the altcoins are not yet merging for real. Bitcoin support at 45-46K has not yet been tested for strength. It looks like everything is ahead, and if the FUD continues to fall today, we will see Bitcoin below 45K.

Levels to watch: 42000-40000, 38000, and 36000. If we go there, of course. Bitcoin at 38K is still the same: in its properties, advantages and prospects is no different from Bitcoin at 55K. At the same time it is much more interesting for the price. This is in the event of such a correction, but so far I do not consider this option a priority. Today, the expiration of options at 63,100 BTC will add volatility to the market and suffering for those who like shorting BTC and stop losses..

FYI: Key public companies that bought Bitcoin so far.

Microstrategy = 71.079 BTC ($ 2.45bn)

Tesla = 48,000 BTC ($ 1.08bn)

Square = 8,027 BTC ($ 186m)

Marathon = 4,813 BTC ($ 93.7M)

Each of them, especially the first two, can easily drive the market up. I think that if, against the backdrop of the collapse of the stock markets, Bitcoin goes down on a large scale, they will definitely use this opportunity to buy again. Perhaps not immediately, as they are also interested in buying cheaper and more. They obviously will not sell Bitcoin cheaper than they bought, so they understand both its prospects and their ability to manage the price of an asset. Will explain in the next paragraph. Therefore, remember - until you sell Bitcoin cheaper than you bought it, you will not have a loss. It is necessary to sell when it is expensive, let the weak hands sell cheaply.

The 3 signals to governments: 1). Bitcoin’s meteoric rise and have come from those attracted to it not for positive reasons, such as Microstrategy, Tesla and Square. Its fear of inflation and currency debasement. These companies have been pushed to Bitcoin in search of a financial risk mitigator when yields on government bonds are low, though a little less so recently, and when their traditional negative correlation with risk assets, such as stocks, has weakened significantly. With that comes higher threats to future financial stability as the risk-mitigating positioning now attracts a more volatile component. 2). More companies are having to consider the possibility that Bitcoin is evolving into a more widely used form of payment and store of value, two key characteristics of money. 3). Speculator flows have driven the third influence. Bitcoin is part of a set of assets seen by some as providing the possibility of quick outsized gains. Once again, the message to governments and central banks about the risk of future financial volatility and instability is far from reassuring. At Bitcoin’s birth and during its early childhood, too many were quick to dismiss the phenomenon as short-lived and irrelevant, if not prone to fraud. They have been proved wrong so far. Today, too many officials are inclined to look at the cryptocurrency in a rather narrow way. They shouldn’t. What is happening to the price of Bitcoin is indicative of broader developments that are relevant to the design and effectiveness of policies. Insert Source from Bloomberg.

In closing, if conditions are favorable for this (further collapse of stock markets), the price may fall below 45K at the weekend to get a good entry point into new options. If before the American session we do not fix above 48K, and the stock markets continue to fall, we will test 45-46K, in case of falling below the next support area is 38800-40000.

The priority option for today is Bitcoin in the range of 45000-47000 before the American session, further depending on the external background. A return above 48K will lead to the previous trading range of 48000-52000, consolidation below 45K will delay a return above 50K by 7-10 days.

Wishing you a blessed afternoon ahead and remember this is traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge

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#JPMorgan note to clients endorses 1% allocation to #Bitcoin as a #hedge. Thoughts on the market on 27.02.2021.

#Bitcoin spent the last 24 hours between 45K and 48K. Corrections to 45K were quickly redeemed, two attempts to go above 48K have also failed, and at the time of writing this, Bitcoin is trading around 47,500. Total Crypto Market capitalization is at $1.450 billion and BTC dominance index of 61.2%.

Stock markets were again falling yesterday; The Dow Jones lost 1.5%, the S&P 500 fell 0.48%, and only the Nasdaq, which had fallen two weeks before, showed a 0.56% gain. Markets held up well throughout the session, but fell towards the close when news broke that the $ 1.9 trillion bailout package was reported, not yet adopted. It was not rejected, but the vote was postponed for next week.

Oil closed below 65, gold and silver lost 2.5% and 3.5% respectively. Oddly enough, this is good for the markets. The creation of uncertainty about the aid package now and its successful adoption next week will provide more positive for the market than if it was just expected to be accepted yesterday.

The crypto market has worked out a priority option - movement in the range 45000-47000. Bitcoin hit a low of around 44100 yesterday, and tested 45K again last night, but these corrections were quickly redeemed. Now Bitcoin is trying to go above 48K for the third time in a day. The price may be holding in a range to comfortably enter new options contracts on Monday. For the same purpose, it can fall below 45K if conditions are favorable for this (for example, if the stock markets open with a strong fall on Monday).

With Bitcoin above 47K, altcoins will rise. I do not expect the growth of everything in a row and the renewal of highs in market capitalization. Interestingly, JPMorgan recommends its clients to invest 1% in Bitcoin (https://www.bloomberg.com/news/articles/2021-02-25/investors-could-add-up-to-1-of-bitcoin-to -mix-jpmorgan-says). Interesting is not so much this fact (not having Bitcoin in your portfolio now is like denying the Internet in the year 2004-2005), and another thing - back in 2017, JP Morgan CEO Dimon stated that Bitcoin is a scam and threatened to fire any employee who will buy it.

In closing, the priority option for the weekend is Bitcoin in the 45000-47000 range, with a possible transition to the previous trading range of 48000-52000. Current movement price movement on daily TF shows a good close above $44K with a third rebound from this area during this week, which makes $44K a psychological barrier for traders in the current time, although that, there`s no strong bullish reaction from this zone yet and if we bear in mind HTF (Higher Time frames) we will see a weak performance from bulls in the current Momentum!! For now, the price ranging between 50/44K below bearish trend from $58K which makes $50K as main resistance for the short term movement, and if bulls breakout this level and close above it, this will help BTC price to push up to $52/ 54K again ( resistance for the mid-term movement) but if they fail and btc breakdown $44K we will see another sell-off to $41K/$38K (Support). We looking for a bounce from this bearish trend line and this zone between 48/49K to $46/44K again for short-term movement. (this point of view will fail if BTC reclaims $56K and close above it daily or weekly.)

Wishing you a great restful weekend ahead and remember this is not traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge

House of Representatives passes $1.9tn Covid stimulus package. Thoughts on the market on 01.03.2021.

#Bitcoin spent the weekend quite violently: on Saturday it traded above 47K, yesterday it was looking for a bottom, reaching lows just above 43K, with the opening of markets it switched to growth, and at the time of writing the review it is trading at about 46300. Total Crypto Market capitalization is at $1.425 billion and BTC dominance index of 61.1%

Stock markets opened higher. Oil is back above 65, gold and silver are on the rise, S&P 500 futures and Asian indices. The news of the acceptance of the bailout package, which took place over the weekend, supported the markets, which have been falling for most of the past week. The downside is that after the adoption of the long-awaited aid package, the market has no reason to grow. The rising yields on US bonds, which have been pressing on the markets all last week, have not gone away, so new ideas are needed for the transition to growth.

Bitcoin on Saturday tried to go above 48K, but did not succeed, after which it broke through support at 45K and marked local lows around 43K. With the opening of the market, the main cryptocurrency returned above 45K, but so far it cannot overcome the resistance at 46800.

Ethereum over the past week has dropped by almost 25% and is trading below 1500, but in general, altcoins are holding quite well, the dominance index remains below 62%, there has been no panic drain of altcoins, and on Saturday, while Bitcoin was above 47K, altcoins are still good and growing.

We spoke about it on Saturday and I think that the option is being worked out with keeping the price of Bitcoin as low as possible to comfortably enter new option contracts. In this case, #Bitcoin will move to growth within 1-2 days. Perhaps we will see a trade in the 43-47K range, perhaps we will immediately go to take 48K, I expect a return of Bitcoin above 50K within 7-10 days, as mentioned here (https://t.me/decryptedge/333).

The priority option for today is Bitcoin in the range of 43000-47000, with a possible fixation above 48K with a favorable external background. After being in the zone of extreme greed for a long time, the fear and greed index finally entered the fear zone, reaching a level last seen in September 2020. This means that the market is ready to move to growth.

So in closing BTC still moves below this bearish sub-trend from $58K no breakout it yet, and the main resistance for this trend located at $ 52K if bulls close above it daily this will give a good push for them if they fail to do that this means one thing and this thing is a dump to 44K again and this time probably we will see $40/37K.

Remember that, the person who is obsessed with bullish thought can extract 10000 scenarios for bullish movement and the same with a bearish person. For us, we extract both sides. This market update is an explanation for market movement(not mean buy or sell). Have a blessed afternoon ahead and remember to do your own research; this is not traditional investment of financial advice. In #Cryto expect anything. #decryptedge

Investing in #Cryptocurrencies Is ‘Not Prudent,’ Says New York #Attorney General. Thoughts on the market on 03.02.2021.

#Bitcoin consolidated above 48000, and tried to take 50K, updating local highs above 50200. The first attempt failed, Bitcoin then was pushed back to 49000, at the time of writing this review, #Bitcoin is worth $49770. Total Crypto Market capitalization of $1,508 billion, dominance index 61.0%. The Stock markets rallied yesterday. The Dow Jones added 1.95%, the Nasdaq rose 3.01%, and the S&P 500 climbed 2.38% to close at 3901.82. Oil lost more than 1% and is now trading below 63, while WTI is already below 60, gold and silver continue to decline. The volatility index has decreased, but the growing dollar index, which is already above 91, is not in favor of the markets.

After the adoption of the aid package in the United States, the markets have no new reasons for growth, while inflationary expectations and the threat of a change in monetary policy in this regard do exist. Therefore, for now I am expecting the S&P 500 in the 3800-3900 range. Futures for the S&P 500 are in a slight minus, Asian indices are trading in different directions, oil and gold continue to decline.

#Bitcoin fulfilled yesterday's analysis confidently, gaining a foothold above 48K. It even briefly entered above 50200 level, though it failed to maintain above the psychological level of 50K, everything ended with a rebound to 49K, there will still be attempts; as long as Bitcoin is holding above 48K, the option of moving above 50,000 is a priority. Further to this there is a resistance area at 51500-52000 and at 54800-55000. Today I expect #Bitcoin in the range of 48000-52000.
If Bitcoin goes below 48K (possibly in case of an unfavorable external background), we switch to consolidation mode, and a return above 50K is postponed for several days, but not for long.
The first option is a priority.

Altcoins are growing, capitalization is back above $1.5 trillion with a falling dominance index, Ethererum is back above 1500. The dominance index says that we are also at the end of the market cycle. Read how it works here (https://t.me/decryptedge/291).
On the bad, Bitcoin FUD is possible.
First, regarding the ban on mining in Inner Mongolia. Although this is no longer new news anymore - the topic of "mining ban in China" in my memory was raised in 2017 and 2019. Hash directives and documents with seals were laid out. Secondly FUD is also possible on Tether.
They closed the issue with the claim, as I had previously assumed (https://t.me/decryptedge/331)
Unknown person demanded a ransom of 500 BTC from Tether. Tether said that an unknown person threatened to publish documents that could "harm the Bitcoin ecosystem." The company representatives also added that a fake correspondence appeared on the network between their employee and the Deltec bank, which holds Tether's assets. The content of the letters calls into question the full provision of stablecoin with reserves. This means that they assume a possible leak of information unpleasant for them and play ahead of the curve. If it happens that the information is still made public, the FUD could be inflated. As a reminder, the cryptocurrency exchange Bitfinex and Tether will pay $ 18.5 million to the state of New York in the case of the company's financial transactions related to the loss of $ 850 million.
Thirdly, New York Attorney General Letitia James issued an alert to cryptocurrency investors and a strongly worded warning to industry participants of the “extreme risks” of cryptocurrencies. She also said investing in digital assets is “not prudent.” The Attorney General had a message for industry participants, too. After suing investment application Coinseed and settling an inquiry with Tether and Bitfinex, James said Monday, “We’re sending a clear message to the entire industry that you either play by the rules or we will shut you down.” Source | Coindesk.

These nonetheless are all short-term movements that do not change the main direction of movement of both Bitcoin and the market as a whole, but can only provide a comfortable level for refueling.

As always wishing you a blessed day ahead. Remember to always do your own research. #decryptedge

Shark Tank's Kevin O'Leary Reverses Stance on #Bitcoin, Says Crypto Is Here to Stay, Invests 3% of His Portfolio. Thoughts on the market as of 03.03.2021

#Bitcoin moved in the range of $47000-49200 during the day. Another attempt to take 50K last night did not lead to success, last night Bitcoin rolled back to 47000, after which it moved to growth and at the time of writing this review is trading at about 48700. Total Crypto Market capitalization is at $1.495 billion, BTC dominance index at 60.8%

Equity markets held the entire session yesterday but fell towards the close. Dow Jones down 0.46%, Nasdaq down 1.69%, S&P 500 down 0.81% to close at 3870.29

There is no new positive, but just enough negative - there have been proposals to adjust the aid package to the economy downward, weak economic data in Europe, growing tension between the United States and China, the possibility of a new round of trade war is becoming more and more real.

US Secretary of State Anthony Blinken made a statement, strange for a diplomat, that one should interact with China from a position of strength. Secretary of the Communist Party of China and the head of the Chinese regulator Guo Shuqing did not make loud statements, but expressed concern about the bubble in the Chinese housing sector, at the same time noting that the American and European markets had lost touch with the real economy and should be corrected, this I agree with him.

Although the breakaway from the real economy is not news for a long time, but an objective reality, the markets have indeed corrected. Oil has returned above 63, gold and silver are at their previous levels, futures for the S&P 500 are showing a slight increase, and Asian indices are also growing.


#Bitcoin failed to take 50K yesterday, which is bad. Not being able to pass the resistance area at 50-52K could send the price towards 43-45K for refueling. On the other hand, #bitcoin found support at 47K, and quickly returned above 48K, and this is in favor of continuing to try to take 50K.

The forecast for returns above 50K within 7-10 days, which was given here (https://t.me/decryptedge/333), remains relevant. Whether Bitcoin does it right away, or once again check the bottom at 43-45K, it does not matter much.

Gary Gensler's appointment to the SEC is due to take place one of these days. We are waiting for news on XRP. Hopefully, Ripple's capabilities are no worse than those of Tether and Bitfinex, which have successfully resolved their issue (https://t.me/decryptedge/331).

In general, interest in cryptocurrencies is growing, which is not surprising in the current economic situation.

Car dealer HGreg (USA and Canada) began accepting payments in cryptocurrencies (https://www.businesswire.com/news/home/20210301005962/en/HGreg-Now-Accepts-Cryptocurrency-Payments), and also announced its intention to store in crypto part of their assets.

Sino-Global Shipping America, which is listed on NASDAQ, also began accepting bitcoin for payment. OLB Group (USA) added crypto payment support for 8,500 US merchants.

PayPal, which entered the crypto market (https://t.me/decryptedge/35) back in October, is going to acquire a custodian (to provide cryptocurrency storage services (https://www.coindesk.com/paypal-to-buy -crypto-custody-firm-curv-sources? amp = 1))