Blockchain.com Crypto Wallet Outage Affects ‘Large Number’ of Users. Thoughts on the market on 10.03.2021

#Bitcoin continued to grow, reaching a local high above $55800 a few hours ago. A sell off began from this level, #Bitcoin rolled back to 53400-53300, where it is currently being traded. At the time of this writing, #Bitcoin is worth 53,460. Total Crypto Market capitalization $1.650 billion and BTC dominance index of 60.5%

Stock markets rallied yesterday. Dow Jones added 0.1%, Nasdaq up 3.69%, S&P 500 up 1.42% to close at 3875.44. We talked yesterday about the stock market showing another wave of growth. The trading session resulted in Apple's growth of more than 4%, AMAZON added 3.76% and TESLA rose 19.6%. Perhaps the explosive growth of TESLA is a reaction to information that the US Post will receive 6 billion for the purchase of electric vehicles. I think that this topic will definitely not pass without Elon Musk. Tesla now clearly shows a correlation with the Bitcoin exchange rate. By the way, MicroStrategy also added 14.7% yesterday.

The Senate adopted a 1.9 trillion bailout package, and the House of Representatives is voting today, where the package will be finally adopted. Thereafter, the next topic for growth could be the adoption of the infrastructure package. In the meantime, we are waiting for the growth of deposits https://t.me/decryptedge/364) of $ 1400 on Coinbase.

Bitcoin clearly fulfilled yesterday's analysis- it reached 55K and even went above 55800, although not for long. While the price was pushed back from 55K, Bitcoin found intermediate support around 53,400, I think there will be repeated attempts to take 55K.

Events develop in the framework of option 1 (https://t.me/decryptedge/357). If we manage to gain a foothold above 55K, then option 2 will be in play. The priority option for today is Bitcoin in the range of 52000-55000.

Yesterday users of the Blockchain.com service tensed, because access to wallets was temporarily lost. According to information from the company, the cause was a fire in the data center and access to wallets has now been restored. Everything ended well, but the situation once again reminds us: “Not your keys, not your coins” a saying that gets passed around a lot in this space. What it means is that if you store your crypto assets on an exchange or with any kind of third-party custodian, you have no guarantee of ownership. Your crypto is what's on the hardware wallet. Even the most reliable custodian services will behave with Bitcoin at 100K, no one knows. Don't lead them into temptation, and keep your crypto under your control.

Interestingly, JPMorgan has filed for crypto exposure. Benchmark stocks include MicroStrategy, PayPal, Square. I think in the coming month there will be news about new big companies entering the topic.

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.

#Uber won’t buy bitcoin with its cash but would consider accepting it as payment, CEO says. Thoughts on the market on 11.03.2021

#Bitcoin continued to grow during the last 24hrs and managed to gain a foothold above 55K and reached a local high of around 57500. At the time of this writing, Bitcoin is worth 55950. Total Crypto Market capitalization is at $1.709billion and BTC dominance index is 61.0%.

Stock markets indices were up yesterday. Dow Jones added 1.46% and updated ATH, Nasdaq dipped slightly (minus 0.04%), S&P 500 rose 0.6% and closed at 3898.81. The yield on American bonds went down yesterday, the dollar index is again below 92, gold is back above 1700 and is now trading at 1729, oil is again approaching 69.

The House of Representatives voted in favor of a 1.9 trillion bailout package, which Biden is due to sign on Friday. A new topic for the market will now be a bill to reduce US dependence on China, providing for large investments in 5G and the production of semiconductors. A new portion of money is possible under this topic. They can also consider and accept an infrastructure package.

#Bitcoin exceeded the plan yesterday, consolidated above 55K and renewed highs above 57500. After that, there was a pullback to 55300 and stabilization around 55800-56300 for several hours. Bitcoin is clearly going to retest 55K. If we hold above, then the actual movement is 55000-57500, followed by an attempt to update the ATH.

If we go below 55K, we return to the previous trading range 55000-52000, and do all of the above a couple of days later.

If we return to the Saturday forecast, then with Bitcoin above 55K, option 1 goes to option 2 (https://t.me/decryptedge/357). In the same analysis, we said that with a growing stock market, option 2 has no alternatives. Option with 55K retention and ATH update in priority.

If we leave for the weekend with Bitcoin above 55K, a local alt season and an update of market capitalization all time highs are very likely.

Interesting: Israel's largest investment house bought shares of Grayscale Bitcoin Trust for 100 million. This is the first time that an Israeli institutional body has acquired a holding with exposure to Bitcoin of this magnitude for its customers. Altshuler Shaham, one of the largest investment entities in Israel, managed NIS 171 billion ($51 Trillion)in assets in long-term savings associates' accounts - provident funds and pension funds as of the end of January

In other news, Uber “quickly dismissed” the idea of buying bitcoin with the cash on its balance sheet, CEO Dara Khosrowshahi told CNBC. “We’re going to keep our cash safe. We’re not in the speculation business,” he said. However, he left open the possibility of Uber eventually accepting cryptocurrencies as payment. We talked about it here(https://t.me/decryptedge/299) Image Courtesy.


Wishing you a blessed afternoon ahead and remember this is not traditional investment advice. Must do your own research. D.Y.O.R. @Decryptedge

Peter Schiff On Bitcoin & Fed of FIAT. Thoughts on the market on 12.03.2021

#Bitcoin held above 55K, continued to grow, reaching its highs above 58280, after which it rolled back to 56700-56600, where it is exchanging as of the time of writing this review. Total Crypto Market capitalization is at $1.729 billion and BTC dominance index at 61.2%

Stock markets rallied yesterday. Dow Jones rose 0.58% and renewed ATH again, S&P 500 did the same, which added 1.04%, Nasdaq rose 2.52% The volatility index fell to 21.91, confidence in further growth is returning to the markets. The dollar index is near 91.5, oil is again approaching 70. A week ago, the markets fell on inflationary expectations, despite all the Fed's assurances that the current monetary policy will continue. Ironically the market is now growing, despite the fact that inflation expectations should only increase with the adoption of the aid package. Why is that?

First, the Fed began to actively buy bonds from the market. This fact, and even the adoption of the aid package without cuts and restrictions, shows that regulators have indeed decided to ignore inflation for now. Secondly, mass investors have no particular alternative to the stock markets.
Bank deposits do not cover inflation, bonds, too, cash loses daily due to the same inflation, real estate - a high entry threshold and low liquidity, not available to everyone.

So crypto remains for those who have the brains and patience to figure it out and decisiveness to take action. At decryptedge we got you covered, this shift can be daunting, we have your back. People have more and more money, and there is nowhere to invest, except crypto. This is evident as the record number of accounts on exchanges opened over the past year (both in Europe and in the United States)have gone up substantially.

#Bitcoin has clearly worked out yesterday's analysis. The break below 55K was quickly redeemed and it returned above this level, moved to growth and reached a high above 58280, short of ATH by less than 200 points. A rollback towards 56K followed and price stabilized around 56500-56600.

Today’s the picture is the same - as long as #Bitcoin is above 55K, the potential remains to update ATH right now. For today, the priority option is price movement in the range of 55000-58000, with a possible renewal of the highs. It is likely that new levels will be taken already in the thin weekend market.

Departure of Bitcoin price below 55K is an alternative option, then we return to the previous range of 55000-52000 for refueling.

If we leave for the weekend with Bitcoin above 55K, we expect a local altseason and an update of the highs.

Interestingly, the son of Peter Schiff (the very one who called Bitcoin a bubble, and its holders are fools) he also had a Bitcoin schooling with Mark Cuban(https://t.me/decryptedge/351), threw all his investments into Bitcoin. In this context he was right, Children at times must go beyond their parents, only then will there be progress. One response to this tweet "Your son seems to understand Money better than you buddy," another person wrote. "Means of exchange is what we decide it is, and we decide that bitcoin is better than and the falling fiat [currencies], as it cant be manipulated, printed out of thin air nor counterfeited."

On that note let me wish you a blessed day and weekend ahead. Stay tuned for our weekly bitcoin101 tomorrow morning at 10am via facebook live and zoom. Remember this is not traditional investment advice. Must do your own research. D.Y.O.R. @Decryptedge

#Binance, the world's largest crypto exchange, probed by CFTC over concerns it allowed US residents to trade derivatives. Thoughts on the market on 13.03. 2021

#Bitcoin was in the range of 57800-55000 during the last 24hrs. The correction to 55K was quickly redeemed, Bitcoin moved to growth, but could pass the resistance area at 57400-57500. As at the time of this writing, Bitcoin is worth #56880. Total Crypto Market capitalization is at $1.720 billion and dominance index of 61.7%

The Dow Jones hit new highs yesterday, adding 0.9%, the S&P 500 rose 0.1% to close at 3943.34, and the Nasdaq lost 0.59%. The volatility index continues to fall - market participants are confident in growth, the market is waiting for money from the aid package. Oil closed at 69.18, gold at 1725.

The full positive is contradicted by the maximum yields on US bonds and the dollar index, which stays between 91.5 and 92. This is the expectation of an inevitable Fed reaction to inflation.

The crypto market came under FUD yesterday. Bloomberg reported that the US Futures Trading Commission (CFTC) is studying the work of Binance for the admission of US residents to derivatives trading. At the same time, the CFTC declined to comment on anything, and Changpeng Zhao called the news a FUD that should be ignored.

In the year 2017-2018, such news would have collapsed the market by 20-30%; yesterday it was only enough for a correction to $55K, which was quickly redeemed.

Bitcoin did not manage to pass 57500, altcoins showed weakness, (with the exception of Litecoin), the market clearly does not strive for new heights. Yesterday MicroStrategy again bought Bitcoin for 15 million, at an average price above 57K, now the company has invested more than 2.2 billion dollars in #Bitcoin.

I want to believe Binance will resolve the CFTC issue, it is not in vain that they hired former Senator Max Bockus as an advisor, just to resolve such issues. The question, perhaps, and the purpose of this whole movement is to make it clear to Binance that they do not need to go to an IPO and compete with #Coinbase.

Yesterday's priority version of our analysis worked out, Bitcoin held above 55K, despite the FUD, and before that approached the upper border of the range at 58K.

For the weekend, the priority option - Bitcoin remains in the range 55000-58000 (another test of the lower limit for refueling is possible, but not required), altcoins move to growth (due to the influence of FUD, growth can be selective). The growth of Litecoin and Etherum will be a sign of this scenario. An alternative option is to spill Bitcoin below 55K and return to the 55000-52000 range for refueling.

With that, I am wishing you a blessed weekend ahead. Remember this is not traditional investment advice. Must do your own research. D.Y.O.R. Good luck to you all. #Decrytedge

"#Bitcoin instead of stocks" & French Lawmaker signs Petition to Allow Central Bank to Buy and Hold Bitcoin, while Kenya’s CBK thinks otherwise. Thoughts on the market on 15.03.2021

#Bitcoin updated ATH over the weekend. The new high is now $61,556.59. At the time of writing this review, Bitcoin corrected and is worth $58,466.98. Total Crypto Market capitalization is $1.820 billion, with BTC dominance index at 61.9%

Equity markets opened higher, followed by a slight pullback. At the moment, futures for the S&P 500 are slightly positive, Asian indices are trading in different directions, oil is approaching 70, gold is worth 1,724.

Bitcoin exceeded our weekend expectations, it has since updated its ATH, and for the second day has been trading around 60K. At the same time, the corrections are bought out, a trading range has formed with support at 59K and resistance at 60500. This support has broken and now in the range of $58,466.98. We spoke about a possible ATH update on the thin weekend market here (https://t.me/decryptedge/372).

#Binance's legal advisor, former Senator Max Baucus, said that the CFTC has no questions about the crypto exchange, but is simply "doing its job in good faith" and trying to understand the rapidly growing industry.

Interestingly, in South Korea, the volume of cryptocurrency trading has surpassed the volume of trading in the stock market. Source (https://www.hankyung.com/). A year ago it was difficult to imagine such a situation. The amount of transactions in the domestic virtual currency (virtual asset) market exceeded the daily average transaction amount of the KOSPI market(Korea Composite Stock Price Index ). According to CoinMarketCap.com, a virtual asset statistics website on the 14th, the amount of transactions for 24 hours of the four major domestic exchanges as of 3 am on the 14th was Upbit 13,678 billion, Bithumb 2,375.8 billion, Coinone 594 billion, Kobit 46.9 billion, etc. It recorded a total of 16 trillion 6947 billion won. This if interpreted happened in the aftermath of the signing of US President Joe Biden's $1.9 trillion (about 2,140 trillion won) scale of economic stimulus on the 12th. As inflation is expected due to large fiscal expenditures, demand for bitcoin as a hedge tool has surged.

In some other news, French Lawmaker signs a petition to Allow the Central Bank to Buy and Hold Bitcoin. This petition is to amend the laws to enable the central bank of France to buy and hold bitcoin as well as other cryptocurrencies. The petition urges lawmakers to urgently consider the matter, warning that not owning bitcoin will put France “in a financially weak position within 5-10 years.” “Many companies now have acquired large sums (of the order of several billion euros) of bitcoin,” the petition states, naming Michael Saylor’s Microstrategy and Elon Musk’s Tesla as examples. (https://t.me/decryptedge/333 ). It further notes that “Some public entities like the mayor of Miami are positioning themselves to be able to buy bitcoin.” Moreover, “The reason given is the risk of a weak dollar over the next 5 years destroying medium-term financing capacities,” Source News.bitcoin

My country's counterpart #Kenya’s Central Bank governor thinks otherwise. Mr Patrick Njoroge, has once again reiterated his position on blockchain and cryptocurrencies saying that they lack a real use case. Speaking during The 2021 Africa Financial Industry Summit by the International Finance Corporation (IFC), a member of the World Bank. Mr. Njoroge further added that rather than focus on crypto and blockchain, the regulator, as a policy maker, is thinking about the post-COVID recovery, payment rails, lending, micro-insurance, and savings. “What we’re focusing on here is the democratization of financial services. I think FinTech would do that very well.” Evidently inflation concerns are not on CBK's priority list. It ought to be on your list, yes you reading this now.

The priority option for today is #Bitcoin in the range of 59000-61000, the alternative is the correction to 55K.

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

#Binance Smart Chain’s #DeFi Protocols’ DNS Hijacked & Looming #India #Crypto Ban. Thoughts on the market on 16.03.2021.

During the last 24Hrs, #Bitcoin declined from the highs attained over the weekend, lost support at 55K, reached lows around 53,300, after which it returned above 54K. As at the time of this writing, #Btitcoin is trading at $54,280. Total Crypto Market capitalization is at $1.672 billion and BTC dominance index of 60.9%.

Stock markets were growing yesterday, indices renewed their highs again. The Dow Jones rose 0.53%, the Nasdaq added 1.05%, the S&P 500 rose 0.65% to close at 3968.84.
The yield on bonds decreased yesterday and is now below 1.6. The dollar index, however, is not falling, which suggests that the overall positive picture could quickly change.

As mentioned earlier, stimulus money has nowhere to go (https://t.me/decryptedge/370). The money allocated within the framework of the aid package is already beginning to flow to the stock market.

For #Bitcoin, an alternative version with a correction to 55K worked. Moreover, the correction plan was exceeded and Bitcoin reached lows around 53,300. The price is trying to return above 55K. If today it is not possible to return above 55K, then we return to the range 55000-52000, and a further correction to 52000-50000 for refueling is probable. The priority is to return above 55K and move towards 60,000.

Yesterday's leak was triggered by FUD over the ban of cryptocurrencies in India. As always in such cases, the source of the information is unknown, but it is actively disseminated through news agencies and major media outlets. Very similar to FUD. Someone did not have time to buy Bitcoin at 50K and wants to fix the situation. It's like the "mining ban in China", which is stuffed about every year. The proposed law in India will ban cryptocurrencies, fines to anyone trading in the country or even holding such digital assets, a senior government official told Reuters. The bill, one of the world’s strictest policies against cryptocurrencies, would criminalize possession, issuance, mining, trading and transferring crypto-assets, said the official, who has direct knowledge of the plan. We talked about it here back in February (https://t.me/decryptedge/269)


The hacking story of large DeFi projects PancakeSwap and Cream Finance, where 3.88 billion and 47.7 million, respectively, are blocked, is also putting pressure on the market. Binance CEO Changpeng Zhao urged users to temporarily refrain from interacting with PancakeSwap and Cream Finance. These and other Binance Smart Chain (BSC) -based DeFi projects have come under attack. According to Zhao, attackers gained access to the domain name system (DNS) of a number of BSC-based project sites in order to include malicious elements in their interfaces. PancakeSwap representatives advised users not to visit the project's website until an official message about the elimination of the problem appeared. “Never enter a seed phrase or private keys on a website. We are now working to fix the problem, ”wrote representatives of the largest DEX ecosystem BSC.

Interestingly, XRP investors have filed a petition to participate in the SEC case against Ripple. Moreover, investors claim that it was the actions of the regulator that caused their losses.

We talked about this for a long time - regulators in the crypto are an absolute evil, and the losses that investors have received due to the actions of the SEC exceed the losses from any scam). In addition, scam usually affects those who are weak in the brain, and everyone gets losses from the actions of the regulator (https://t.me/decryptedge/225).

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 Images Courtesy.

#Ethereum EIP 1559 – Five Things We Know. Thoughts on the market on 17.03.2021.

#Bitcoin returned above 55,000, moved up to 57,200, and then returned to 55,800, where it is trading as at the time of this writing. Total Crypto Market capitalization is at $1.721 billion with BTC dominance index of 60.7%

Stock indices slipped slightly yesterday - the Dow Jones lost 0.39%, the S&P 500 fell 0.16%, and only the Nasdaq rose by 0.09%. The yield on US bonds rose again and is now above 1.62.

On one hand, money from the aid package is already entering the market, and in such a situation it is difficult not to grow. On the other hand, the markets are wary of the Fed's reaction to rising inflation, and therefore the S&P 500 is still no higher than 4000.

Today will be the results of the Fed meeting, perhaps they will determine the direction of movement of the markets. There should be no surprises, investors will evaluate the rhetoric in terms of the likelihood of changes in the monetary policy. The Asian indices are falling, oil is also falling, futures for the S&P 500 are in place, and the dollar index is about 92.

#Bitcoin worked out the priority version of yesterday’s analysis, fixed above $55000, began to grow and reached levels above $57200. From there a rollback to price area of $55800-56100, where it has been for more than an hour.

With yesterday's Bitcoin fall below $55K, altcoins kept quite confidently, and even now they are at a high level - the dominance index is 60.7%, top altcoins are growing, and so is everything else.

The priority option for today is #Bitcoin moving on the $55000-57000 range, the growth of altcoins and market capitalization. An alternative option is a correction below 55K with a consolidation and a possible test of $52000-53000. Possible in the event of a negative external background (a fall in the stock market, FUD from India or somewhere else, etc.).

In the short term, it is important to fix Bitcoin above 60K and update the maximums for market capitalization. Perhaps this will not happen on the first try. #Ethereum Improvement Proposal could offer a path to compromise between Ethereum’s miners and developers, but few in the community appear to support the EIP. The imminent changes of Etherum and the solution to the problem of large fees, as well as the resistance of miners to these innovations. Active work is underway in this direction, which is good for both Ether and the DeFi sector. While some are looking to the proposal as a means to cool flaring tensions between Ethereum’s miners and developers, the EIP appears to have secured little support from the community.
In recent weeks, tensions have escalated over EIP-1559 — an upgrade slated for integration in July that is expected to discipline Ethereum’s volatile fee market while significantly impacting miner revenues. The new proposal, EIP-3368, advocates that block rewards immediately be increased to 3 Ether (ETH) and then reduced to 1 Ether over the two years following EIP-1559’s implementation to ease the impact on miners of Ethereum’s transition to proof-of-stake. Source: cointelegraph.com/ Image Courtesy. Summary of #Ethereum Improvement Proposal .
• It Will Happen in July
• It’s Revolutionary
• Miners Don’t Like It
• There (Probably) won’t be a Hard Fork
• Ethereum Will be a Deflationary Cryptocurrency
Will write this in details later on this channel.
Wishing you a blessed afternoon ahead and remember this is not traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge

#Bank of America Says There's No Good Reason to Own Bitcoin Apart from Speculation
Thoughts on the market on 19.03.2021.

Bitcoins moved within the price range of 59000-57000, reaching highs above $60130. The correction to $56k quickly bought back. At the time of writing, the Bitcoin review costs $58100. Total Crypto Market capitalization is now at $1.780 billion with BTC dominance index at 60.9%

The US stock market completed Friday's auction fall against the background of negative dynamics from the oil and gas sectors, technologies and consumer services. Dow Jones lost 0.46%, the S & P 500 index fell by 1.48%, NASDAQ fell by 3.02%.

Some interesting developments, according to strategists of #Bank of America, in order to move the price of bitcoin for one percent, the influx will require only 93 million dollars.
On the other hand a change in the price of gold for one percent, the influx will be required worth not less than 2 billion dollars. As expected, BofA also took aim at the cryptocurrency's energy use, pointing to the fact that it now consumes more power than Greece. #CitiBank holds quite the opposite view. In early March, Citi, another major American bank, put out a contrarian report that claims that Bitcoin could be at a "tipping point" of reaching mainstream adoption: Bitcoin's future is thus still uncertain, but developments in the near term are likely to prove decisive as the currency balances at the tipping point of mainstream acceptance or a speculative implosion.

The largest #Coinbase cryptocurrency exchange in the US submitted an updated application for direct listing in SEC. The company is going to sell 114.85 million shares. The maximum amount that it can attract - $ 943.2milion. We first spoke about it here(https://t.me/decryptedge/136) Goldman Sachs was picked to lead this initial public offering, per a report by Business Insider.

On BTC short-term price movement , since bulls reclaimed $58K support with a good bullish candle,for sure this move has diminished the fear of most traders at the moment, and who's had doubts about a more drop, his doubt faded as a result of that breakout. On the current movement, $60500 works as current resistance for short-term movement.
Important levels for current trading range between 50/60K,

Resistance levels,
$60500
$61450
$64200
$67400

Support levels,
$56800
$55250
$53150
$51150

For today I expect the movement of the main cryptocurrency in the range of 57000-59000, with a possible update of a daily ATH. Alternative - shed below 56k

As always, wishing you a great weekend ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #decryptedge