ANOTHER WIN FOR #XRP IN #SEC V RIPPLE CASE as #Ethereum's capitalization Surpasses the value of Coca-Cola and Netflix. Thoughts on the market on 12.04.2021.
#Bitcoin over the weekend tried to gain a foothold above 60K and reached a high of $61278 on Binance Exchange, but then corrected down again.. At the time of this writing, #Bitcoin is trading around $60350. Total Crypto Market capitalization $2.085 Trillion, BTC dominance index is at 54.2%
Equity markets opened slightly lower. At the moment, futures for the S&P 500 are in a slight minus, Asian indices have dipped, gold and silver are also falling.
#Bitcoin fulfilled the last analysis (https://t.me/decryptedge/431) and even slightly exceeded expectations. On Saturday, it reached $61278 on #Binance), after which there was a correction below $58500, which was immediately redeemed and it again went up.
The main moonshots of the weekend were Binance native coins(BNB, Ethereum and Ripple, which have updated their highs. BNB was at 549, ETH was up to 2196, and XRP hit its high after the SEC sued for $ 1.5. I think that soon Ripple will be able to compete for the 3rd place in the rating on coinmarketcap. With growing optimism among Ripple co-founders and XRP holders, Brad Garlinghouse said the firm is ready to march on without the XRP-based settlement platform if it loses the legal battle against the US regulator. We wrote about the XRP situation back in January https://t.me/decryptedge/178. For those who followed you are up more than 200%.
Today I expect Bitcoin in the range of 59000-61000 with possible renewal of highs. Major support is at 59000 followed by 58750.
On the news with the court rejecting SEC's request to disclose personal financial information of Ripple executives, we remember where it all started back in December 2020, the SEC accused Ripple of selling unregistered securities in the form of an XRP token in the amount of $ 1.3 billion. The judge upheld the company's motion: "Since the SEC requests personal financial statements to verify the completeness of the information that the defendants have agreed to provide, the court finds no evidence to suggest that such verification is necessary or appropriate." The court ruling states that such requests will lead to the disclosure of private information that "has nothing to do with whether the respondents offered or sold XRP in the public market or facilitated its sale to potential investors." Earlier, Judge Netburn granted Ripple's petition for access to SEC documents revealing the regulator's “interpretation and views” of Bitcoin and Ethereum.
Notably December BTC futures hit $ 73,500. As crypto-derivatives markets remain largely unregulated, inefficiencies shall continue to prevail. December's $73,500 contract does not necessarily reflect investors' expectations, and such a premium should recede. Source : Cointelegraph. #Bitcoin futures allow investors to gain exposure to Bitcoin without having to hold the underlying cryptocurrency. Like a futures contract for a commodity or stock index, Bitcoin futures allow investors to speculate on the future price of Bitcoin.
#Ethereum's capitalization has surpassed the value of Coca-Cola and Netflix. #Ethereum network went live on 30 July 2015 so that makes it 7 years. $240.14B is the Ethereum Market Cap, this is up from 226.62B yesterday and up from 19.15B one year ago. For coca-cola a 129 years old company is valued at $197.1B. Netflix on the other end is a 23 years old company valued at $194 billion.
On that note let me wish you a good 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
#Bitcoin over the weekend tried to gain a foothold above 60K and reached a high of $61278 on Binance Exchange, but then corrected down again.. At the time of this writing, #Bitcoin is trading around $60350. Total Crypto Market capitalization $2.085 Trillion, BTC dominance index is at 54.2%
Equity markets opened slightly lower. At the moment, futures for the S&P 500 are in a slight minus, Asian indices have dipped, gold and silver are also falling.
#Bitcoin fulfilled the last analysis (https://t.me/decryptedge/431) and even slightly exceeded expectations. On Saturday, it reached $61278 on #Binance), after which there was a correction below $58500, which was immediately redeemed and it again went up.
The main moonshots of the weekend were Binance native coins(BNB, Ethereum and Ripple, which have updated their highs. BNB was at 549, ETH was up to 2196, and XRP hit its high after the SEC sued for $ 1.5. I think that soon Ripple will be able to compete for the 3rd place in the rating on coinmarketcap. With growing optimism among Ripple co-founders and XRP holders, Brad Garlinghouse said the firm is ready to march on without the XRP-based settlement platform if it loses the legal battle against the US regulator. We wrote about the XRP situation back in January https://t.me/decryptedge/178. For those who followed you are up more than 200%.
Today I expect Bitcoin in the range of 59000-61000 with possible renewal of highs. Major support is at 59000 followed by 58750.
On the news with the court rejecting SEC's request to disclose personal financial information of Ripple executives, we remember where it all started back in December 2020, the SEC accused Ripple of selling unregistered securities in the form of an XRP token in the amount of $ 1.3 billion. The judge upheld the company's motion: "Since the SEC requests personal financial statements to verify the completeness of the information that the defendants have agreed to provide, the court finds no evidence to suggest that such verification is necessary or appropriate." The court ruling states that such requests will lead to the disclosure of private information that "has nothing to do with whether the respondents offered or sold XRP in the public market or facilitated its sale to potential investors." Earlier, Judge Netburn granted Ripple's petition for access to SEC documents revealing the regulator's “interpretation and views” of Bitcoin and Ethereum.
Notably December BTC futures hit $ 73,500. As crypto-derivatives markets remain largely unregulated, inefficiencies shall continue to prevail. December's $73,500 contract does not necessarily reflect investors' expectations, and such a premium should recede. Source : Cointelegraph. #Bitcoin futures allow investors to gain exposure to Bitcoin without having to hold the underlying cryptocurrency. Like a futures contract for a commodity or stock index, Bitcoin futures allow investors to speculate on the future price of Bitcoin.
#Ethereum's capitalization has surpassed the value of Coca-Cola and Netflix. #Ethereum network went live on 30 July 2015 so that makes it 7 years. $240.14B is the Ethereum Market Cap, this is up from 226.62B yesterday and up from 19.15B one year ago. For coca-cola a 129 years old company is valued at $197.1B. Netflix on the other end is a 23 years old company valued at $194 billion.
On that note let me wish you a good day ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge
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#US National Intelligence Service Warns Of Hazy Future Of Fiat Currencies
Thoughts on the market on 04/10/2021
#Bitcoin has since held above 58K and continued to grow during the day to exiting the 57000-58500 trading range!. At the time of this writing,…
Thoughts on the market on 04/10/2021
#Bitcoin has since held above 58K and continued to grow during the day to exiting the 57000-58500 trading range!. At the time of this writing,…
#Binance Offers Commission-Free Stock Trading, Tokenizes Tesla Shares. As Time Magazine Hold Bitcoin on Its Balance Sheet. Thoughts on the market on 13.04.2021
#Bitcoin was in the range of $61300-59300 during the day. There were several attempts to gain a foothold above 61K, but not yet yielded a successful result and at the time of writing the review, #Bitcoin is trading around $60600. Total Crypto Market capitalization is at $2.094 Trillion, and BTC dominance index of 54.0%.
Equity markets finished trading on Monday in different directions. The Dow Jones fell 0.16%, the S&P 500 rose 0.01%, and the NASDAQ dropped 0.36%. The volatility index rose 1.32%, while the dollar index dropped 0.05% to 92.115.
As noted, Bitcoin worked out the priority version of yesterday’s and moved in the range of 61300-59300. Attempts to gain a foothold above 61K have not yielded results yet, but we are not leaving below 59K either.
The priority option for today is price movement in the range of 59000-61000, with a possible renewal of the highs. Major support levels are at 59500-59000, and resistance is at 60800-61200. The option with a departure below 59K is an alternative.
Interestingly #Binance has announced the addition of zero-fee tokenized shares to its listing. The first to include shares in the electric car manufacturer Tesla. Binance CEO Changpeng Zhao believes that digital stock tokens will provide a bridge between traditional and crypto markets and broaden access to equity markets, resulting in a “more inclusive financial future.” The first publicly tradable equity in the form of a Binance stock token will be Tesla, the share price of which currently hovers around the $700 mark. Rather than purchase a full, traditional share, for which custody of a physical share certificate is required, users can purchase as little as one one-hundredth of a Tesla share represented by a digital token. Binance stated: “Each digital token represents one share of equity stock and is fully backed by a depository portfolio of underlying securities that represents the outstanding tokens. Users will be able to trade fractional tokens.” Source ( Cointelegraph)
One of the most authoritative world publications, TIME magazine, will accept Bitcoin and store the received cryptocurrency. Last month time magazine announced that they were looking for a CFO familiar with blockchain and cryptocurrencies. (https://t.me/decryptedge/390). Michael Sonnenshein CEO at Grayscale. On his tweet he stated that “Thrilled @Grayscale is partnering w/ @TIME on a new video series coming this summer explaining the #crypto space. Equally as important, @KeithGrossman & @TIME has agreed to be paid in #Bitcoin - and will hold the $BTC on their balance sheet. A first for our media partnerships!” end of quote. This is really affirming the global adoption. Back in February 2020 I wrote about the 1 trillion psychological level with more companies onboarding. (https://t.me/decryptedge/317)
MicroStrategy's board of directors will receive bonuses in Bitcoin instead of dollars. A company leading the world in intelligent business development. Not only will @MicroStrategy thrive as a business but its board, and hopefully employees will benefit hugely from this development. This opens up or rather throws a spanner in the works for Govts. On a point of caution though, anytime someone converts Crypto to Fiat creates a tax event.. Which at some point in time one will have to declare. Not forgetting #Coinbase upcoming listing tomorrow means. Remember they have a working arrangement with the IRS so your trading data will be availed if you use #Coinbase.
With that, wishing you a blessed day ahead and remember this is not traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge
#Bitcoin was in the range of $61300-59300 during the day. There were several attempts to gain a foothold above 61K, but not yet yielded a successful result and at the time of writing the review, #Bitcoin is trading around $60600. Total Crypto Market capitalization is at $2.094 Trillion, and BTC dominance index of 54.0%.
Equity markets finished trading on Monday in different directions. The Dow Jones fell 0.16%, the S&P 500 rose 0.01%, and the NASDAQ dropped 0.36%. The volatility index rose 1.32%, while the dollar index dropped 0.05% to 92.115.
As noted, Bitcoin worked out the priority version of yesterday’s and moved in the range of 61300-59300. Attempts to gain a foothold above 61K have not yielded results yet, but we are not leaving below 59K either.
The priority option for today is price movement in the range of 59000-61000, with a possible renewal of the highs. Major support levels are at 59500-59000, and resistance is at 60800-61200. The option with a departure below 59K is an alternative.
Interestingly #Binance has announced the addition of zero-fee tokenized shares to its listing. The first to include shares in the electric car manufacturer Tesla. Binance CEO Changpeng Zhao believes that digital stock tokens will provide a bridge between traditional and crypto markets and broaden access to equity markets, resulting in a “more inclusive financial future.” The first publicly tradable equity in the form of a Binance stock token will be Tesla, the share price of which currently hovers around the $700 mark. Rather than purchase a full, traditional share, for which custody of a physical share certificate is required, users can purchase as little as one one-hundredth of a Tesla share represented by a digital token. Binance stated: “Each digital token represents one share of equity stock and is fully backed by a depository portfolio of underlying securities that represents the outstanding tokens. Users will be able to trade fractional tokens.” Source ( Cointelegraph)
One of the most authoritative world publications, TIME magazine, will accept Bitcoin and store the received cryptocurrency. Last month time magazine announced that they were looking for a CFO familiar with blockchain and cryptocurrencies. (https://t.me/decryptedge/390). Michael Sonnenshein CEO at Grayscale. On his tweet he stated that “Thrilled @Grayscale is partnering w/ @TIME on a new video series coming this summer explaining the #crypto space. Equally as important, @KeithGrossman & @TIME has agreed to be paid in #Bitcoin - and will hold the $BTC on their balance sheet. A first for our media partnerships!” end of quote. This is really affirming the global adoption. Back in February 2020 I wrote about the 1 trillion psychological level with more companies onboarding. (https://t.me/decryptedge/317)
MicroStrategy's board of directors will receive bonuses in Bitcoin instead of dollars. A company leading the world in intelligent business development. Not only will @MicroStrategy thrive as a business but its board, and hopefully employees will benefit hugely from this development. This opens up or rather throws a spanner in the works for Govts. On a point of caution though, anytime someone converts Crypto to Fiat creates a tax event.. Which at some point in time one will have to declare. Not forgetting #Coinbase upcoming listing tomorrow means. Remember they have a working arrangement with the IRS so your trading data will be availed if you use #Coinbase.
With that, wishing you a blessed day ahead and remember this is not traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge
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#Bitcoin updated daily low price during the last 24 hrs and reached a price of $53692 (Binance). The correction to 53K was redeemed and bitcoin moved to growth. At the time of this writing, Bitcoin is now trading around 54420. Total Crypto Market capitalization…
#Banning Bitcoin Is Like Shutting Down Internet — #Government Would Be 'Foolish' to Try as #Coinbase makes a listing debut with a $250 price tag. Thoughts on the market on 14.04.2021
After consolidating around 60K, #Bitcoin broke out of the range, consolidated above 62K and updated it All Time High at $64548 on #Binance Exchange. At the time of this writing, it's trading for $64,056. Total Crypto Market capitalization is now at $ $2.309 Trillion, and BTC dominance index of 53.6%.
How does the BTC Dominance affects #altcoins & the Cryptocurrency market as a Whole? Comment or let me know if you would like us to.
Equity markets finished trading on Tuesday in different directions. The Dow Jones fell 0.20%, the S&P 500 rose 0.29%, and the NASDAQ rose 1.05%. The volatility index fell 1.54% to hit a new 52-week low. The dollar index dropped 0.35%. Gold and oil rose.
#Bitcoin exceeded all expectations and exceeded yesterday's analysis, there is a new ATH of 64548. Bitcoin's rise pushed the rest of the market to highs as well.
The new ATHs of Ethereum is now at $2404. The growth leader was Elon Musk's favorite Dogecoin, which does not seem to be going to stop, having renewed its highs at 0.12 a few hours ago. This year it has registered 118.0% gains.
If Bitcoin continues to hit highs today and hits 65K, the scale of #FOMO will only grow. Those who sold Bitcoin at 50K will now buy it above 60. (Fear Vs Greed).
The priority option for today is price movement in the range of 61000-64000, with a likely renewal of the 65K highs. The main support levels are 62850-61000, the main resistance levels are 63850 and 65000. If we go below 61K, then a return to 59K is possible.
Interestingly Securities and Exchange Commission Commissioner Hester Pierce compares the Bitcoin ban to shutting down the internet. Peirce, sometimes known as “crypto mom,” has been pushing for the SEC to approve a bitcoin ETF for several years. She was asked during the interview whether banning cryptocurrencies is a possibility since some people still believe that governments can always ban bitcoin, including Bridgewater Associates founder Ray Dalio, The Big Short’s Michael Burry, and Ron Paul. The commissioner replied: I think we were past that point very early on because you would have to shut down the internet. As I’ve said in the past, I don’t see how you could ban it … I think that it would be a foolish thing for the government to try to do that. Source News.Bitcoin.
Goldman Sachs and Nasdaq decided that #Coinbase should start trading at $ 250 per share. As reported by #Coindesk, This is a valuation of $66.5 billion, assuming an estimated 266.2 million shares outstanding. The reference price is discovered using public financial information along with market sentiment and is usually a conservative estimate. This figure is 27% lower than what #Coinbase last traded at in the private secondary market, $343.58 per share.
MicroStrategy (MSTR) shares surged to monthly highs on Tuesday amid bitcoin gains. By as much as 10% on Tuesday, just one day after an SEC filing showed that non-employee board members will be paid in BTC. Shares of the business intelligence firm touched an intraday high of $770 on the New York Stock Exchange, representing a gain of 10% — the highest level since March 11. At current values, MicroStrategy has a total market capitalization of $7.5 billion.
In closing with the fear and greed index there are two simple assumptions: Extreme fear can be a sign that investors are too worried. That could be a buying opportunity. When Investors are getting too greedy, that means the market is due for a correction. Take your pick.
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.
After consolidating around 60K, #Bitcoin broke out of the range, consolidated above 62K and updated it All Time High at $64548 on #Binance Exchange. At the time of this writing, it's trading for $64,056. Total Crypto Market capitalization is now at $ $2.309 Trillion, and BTC dominance index of 53.6%.
How does the BTC Dominance affects #altcoins & the Cryptocurrency market as a Whole? Comment or let me know if you would like us to.
Equity markets finished trading on Tuesday in different directions. The Dow Jones fell 0.20%, the S&P 500 rose 0.29%, and the NASDAQ rose 1.05%. The volatility index fell 1.54% to hit a new 52-week low. The dollar index dropped 0.35%. Gold and oil rose.
#Bitcoin exceeded all expectations and exceeded yesterday's analysis, there is a new ATH of 64548. Bitcoin's rise pushed the rest of the market to highs as well.
The new ATHs of Ethereum is now at $2404. The growth leader was Elon Musk's favorite Dogecoin, which does not seem to be going to stop, having renewed its highs at 0.12 a few hours ago. This year it has registered 118.0% gains.
If Bitcoin continues to hit highs today and hits 65K, the scale of #FOMO will only grow. Those who sold Bitcoin at 50K will now buy it above 60. (Fear Vs Greed).
The priority option for today is price movement in the range of 61000-64000, with a likely renewal of the 65K highs. The main support levels are 62850-61000, the main resistance levels are 63850 and 65000. If we go below 61K, then a return to 59K is possible.
Interestingly Securities and Exchange Commission Commissioner Hester Pierce compares the Bitcoin ban to shutting down the internet. Peirce, sometimes known as “crypto mom,” has been pushing for the SEC to approve a bitcoin ETF for several years. She was asked during the interview whether banning cryptocurrencies is a possibility since some people still believe that governments can always ban bitcoin, including Bridgewater Associates founder Ray Dalio, The Big Short’s Michael Burry, and Ron Paul. The commissioner replied: I think we were past that point very early on because you would have to shut down the internet. As I’ve said in the past, I don’t see how you could ban it … I think that it would be a foolish thing for the government to try to do that. Source News.Bitcoin.
Goldman Sachs and Nasdaq decided that #Coinbase should start trading at $ 250 per share. As reported by #Coindesk, This is a valuation of $66.5 billion, assuming an estimated 266.2 million shares outstanding. The reference price is discovered using public financial information along with market sentiment and is usually a conservative estimate. This figure is 27% lower than what #Coinbase last traded at in the private secondary market, $343.58 per share.
MicroStrategy (MSTR) shares surged to monthly highs on Tuesday amid bitcoin gains. By as much as 10% on Tuesday, just one day after an SEC filing showed that non-employee board members will be paid in BTC. Shares of the business intelligence firm touched an intraday high of $770 on the New York Stock Exchange, representing a gain of 10% — the highest level since March 11. At current values, MicroStrategy has a total market capitalization of $7.5 billion.
In closing with the fear and greed index there are two simple assumptions: Extreme fear can be a sign that investors are too worried. That could be a buying opportunity. When Investors are getting too greedy, that means the market is due for a correction. Take your pick.
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.
#Crypto Friendly #US #SEC?.. As Over 10,000 blacklisted #BTC from a 2016 Bitfinex hack on the move. Thoughts on the market on 15.04.2021
#Bitcoin updated its ATH again yesterday. The new ATH is now above 64900 $64918 on #Binance Exchange). As of the time of this writing, Bitcoin is worth $63,260. Total Crypto Market capitalization of $2.230 Trillion with BTC dominance index of 52.9%.
Equity markets on Wednesday finished trading in different directions again. The Dow Jones rose 0.16%, the S&P 500 fell 0.41%, and the NASDAQ fell 0.99%. The volatility index rose 2.04% to 16.99, while the dollar index dropped 0.20%.
After #Bitcoin updated its ATH above $64900, what followed was a rollback towards 61K, that was quickly redeemed and the price returned to 63K. #Etherum registered an ATH of $2450 and XRP $ 1.96.
The main event of yesterday was the entry of #Coinbase exchange into the stock market, now listed and publicly traded like the tech giants like Facebook or Uber. #Coinbase has a capitalization of over 87 billion, making it the most capitalized crypto exchange in the world. The original COIN price was $ 250, but the stock opened at 381 and peaked at 429, sharply changed its course and went down, trading closed at $ 328. Against this background, the #Binance exchange, which yesterday announced the listing of tokenized #Coinbase shares, postponed the start of trading due to market volatility. In my observation #Coinbase will be the darling of the US market having passed the regulatory measures. On the other hand with the backdrop of the US/China trade war or rather fight for superiority, it would be correct to observe that American regulators don't like #binance.. they see it as a #chinese firm. With that bias they would want #coinbase to be number one. In my opinion, #Binance is already way ahead and quite innovative. Lets see how this plays out.
Today’s priority option is Bitcoin movement in the range of $64000-62000. For transition to growth, it is necessary to consolidate above 64K. The main support levels are 61800-61000, the main resistance levels are 63500-64000.
Interesting: Gary Gensler has become the new chairman of the Securities and Exchange Commission, taking a more positive stance towards cryptocurrencies. A former Goldman Sachs banker, a forceful commodities regulator under President Barack Obama And Crypto Professor. SEC Commissioner Hester Peirce (Crypto Mom) acknowledged Gensler will have a "very busy agenda—much of which will have nothing to do with crypto," but she said he's likely to be "sympathetic to the call for regulatory clarity" in the space. The SEC has long delayed issuing firm regulation targeting digital currencies given its purview over securities (and not currencies), but Gensler—a professor focused on cryptocurrencies and blockchain technology at the MIT Sloan School of Management—will be overseeing the agency as it takes on a slew of bitcoin exchange-traded fund applications and as it investigates Ripple, the firm behind one of the world's largest cryptocurrencies, for the alleged sale of unregistered securities. We talked about him back in January (https://t.me/decryptedge/216)
CRUCIAL QUOTE “When it comes to enforcement, Mr. Gensler has shown he has the guts to take on bad actors, no matter how big, no matter how powerful they are, and he will hold them accountable,” Senate Banking Chair Sherrod Brown (D-Ohio) said Tuesday. Source | FORBES
Over $ 750 million worth of bitcoins stolen from the Bitfinex cryptocurrency exchange in 2016 are back in motion. (Over 10,000 BTC) As reported by #Cointelegraph, a tranche of long-dormant Bitcoin seized in the 2016 hack of the #Bitfinex cryptocurrency exchange are on the move today, an over $620 million sum that has some market participants spooked and may be contributing to a downward slide for Bitcoin. Most likely outcome is that the Bitfinex hacker may not sell the #Bitcoin (not in any volume). But he/she/they can move it to try to manipulate the market while they short it elsewhere.
#Bitcoin updated its ATH again yesterday. The new ATH is now above 64900 $64918 on #Binance Exchange). As of the time of this writing, Bitcoin is worth $63,260. Total Crypto Market capitalization of $2.230 Trillion with BTC dominance index of 52.9%.
Equity markets on Wednesday finished trading in different directions again. The Dow Jones rose 0.16%, the S&P 500 fell 0.41%, and the NASDAQ fell 0.99%. The volatility index rose 2.04% to 16.99, while the dollar index dropped 0.20%.
After #Bitcoin updated its ATH above $64900, what followed was a rollback towards 61K, that was quickly redeemed and the price returned to 63K. #Etherum registered an ATH of $2450 and XRP $ 1.96.
The main event of yesterday was the entry of #Coinbase exchange into the stock market, now listed and publicly traded like the tech giants like Facebook or Uber. #Coinbase has a capitalization of over 87 billion, making it the most capitalized crypto exchange in the world. The original COIN price was $ 250, but the stock opened at 381 and peaked at 429, sharply changed its course and went down, trading closed at $ 328. Against this background, the #Binance exchange, which yesterday announced the listing of tokenized #Coinbase shares, postponed the start of trading due to market volatility. In my observation #Coinbase will be the darling of the US market having passed the regulatory measures. On the other hand with the backdrop of the US/China trade war or rather fight for superiority, it would be correct to observe that American regulators don't like #binance.. they see it as a #chinese firm. With that bias they would want #coinbase to be number one. In my opinion, #Binance is already way ahead and quite innovative. Lets see how this plays out.
Today’s priority option is Bitcoin movement in the range of $64000-62000. For transition to growth, it is necessary to consolidate above 64K. The main support levels are 61800-61000, the main resistance levels are 63500-64000.
Interesting: Gary Gensler has become the new chairman of the Securities and Exchange Commission, taking a more positive stance towards cryptocurrencies. A former Goldman Sachs banker, a forceful commodities regulator under President Barack Obama And Crypto Professor. SEC Commissioner Hester Peirce (Crypto Mom) acknowledged Gensler will have a "very busy agenda—much of which will have nothing to do with crypto," but she said he's likely to be "sympathetic to the call for regulatory clarity" in the space. The SEC has long delayed issuing firm regulation targeting digital currencies given its purview over securities (and not currencies), but Gensler—a professor focused on cryptocurrencies and blockchain technology at the MIT Sloan School of Management—will be overseeing the agency as it takes on a slew of bitcoin exchange-traded fund applications and as it investigates Ripple, the firm behind one of the world's largest cryptocurrencies, for the alleged sale of unregistered securities. We talked about him back in January (https://t.me/decryptedge/216)
CRUCIAL QUOTE “When it comes to enforcement, Mr. Gensler has shown he has the guts to take on bad actors, no matter how big, no matter how powerful they are, and he will hold them accountable,” Senate Banking Chair Sherrod Brown (D-Ohio) said Tuesday. Source | FORBES
Over $ 750 million worth of bitcoins stolen from the Bitfinex cryptocurrency exchange in 2016 are back in motion. (Over 10,000 BTC) As reported by #Cointelegraph, a tranche of long-dormant Bitcoin seized in the 2016 hack of the #Bitfinex cryptocurrency exchange are on the move today, an over $620 million sum that has some market participants spooked and may be contributing to a downward slide for Bitcoin. Most likely outcome is that the Bitfinex hacker may not sell the #Bitcoin (not in any volume). But he/she/they can move it to try to manipulate the market while they short it elsewhere.
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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…
So in closing with a background of activities both positive and negative, Bulls are trying to build a support zone above 60/59K zone and if they succeed to do that this will give a good push to $68K/72K and an new ATH will be achieved
But if they fail to do that, and bears overcome them by breakdown $56/54K and BTC closes below it weekly or monthly, bulls will be in a bad situation, and it will be a perfect time for a dump. So be sure you follow risk management in your trades.
As always wishing you a blessed day ahead, and remember must always do your own research. This is not traditional investment or financial advice. #Decryptedge
But if they fail to do that, and bears overcome them by breakdown $56/54K and BTC closes below it weekly or monthly, bulls will be in a bad situation, and it will be a perfect time for a dump. So be sure you follow risk management in your trades.
As always wishing you a blessed day ahead, and remember must always do your own research. This is not traditional investment or financial advice. #Decryptedge
From an email: Garry Tan Turned A $300,000 Bet On #Coinbase Into A $680 Million ‘Golden Ticket’. #DogeCoin Joke Crypto, that was.. Funded Water Projects in Kenya. Thoughts on the market on 16.04.2021.
#Bitcoin was in the price range of $63800-62000 in the last 26hrs. It later managed to gain a foothold above 62K. At the time of this writing, Bitcoin is worth 62,820. Total Crypto Market capitalization is at $2.262 Trillion and BTC dominance index of 52.1%
Equity markets rallied yesterday, driven by stronger tech, health and commodities sectors. The Dow Jones rose 0.90%, reaching an all-time high, the S&P 500 rose 1.11%, and the NASDAQ rose 1.31%. The dollar index fell 0.03%.
Bitcoin yesterday clearly worked out the priority version of our analysis and moved in the specified range, gaining a foothold above 62000. At the same time, altcoins feel confident, with the BTC dominance index at 52.1% and continue to fall.
April 15 was Ethereum day. The hard fork of Berlin took place, within which a change in the algorithm for calculating cost of gas and new types of transactions were introduced. Not everything went smoothly right away, and after the launch, a failure was recorded on the network, which was quickly eliminated. In addition, the cryptocurrency set a new all-time high of $2549 on #Binance exchange. Open interest in futures reached a record $ 8.1 billion.
Another star was Dogecoin, which grew by more than 100% in a day and set the new ATH at $ 0.29. It happened after another tweet by Elon Musk. This may not end well.. In the event of a negative tweet from the same guy.
FYI: Dogecoin started in December 2013, at the peak of the first big bitcoin bubble as the media likes to call it. Dogecoin was originally a joke cryptocurrency, taking its name from the “doge” internet meme: a picture of a shiba inu dog talking in Comic Sans font. The idea was to have fun and be silly with a cryptocurrency that was cheap enough to mess around with—each coin was worth a fraction of a cent. Dogecoin fans (nicknamed “shibes”) gathered on the Reddit forum /r/dogecoin. They would tip each other dogecoins for amusing comments.
To my surprise, The forum actually got into charity. Raised nearly $30,000 of dogecoins in January 2014 to send the Jamaican bobsled team to the 2014 Winter Olympics. Doge4Water raised $32,000 to supply clean water in #Kenya. 4 water projects were actualised (https://www.charitywater.org/projects/158-27?campaign_id=51029) They did this just by creating their own magical internet money, selling it for bitcoins, then selling the bitcoins for dollars—which was surprisingly feasible at the height of a bubble. Money changes everything—and “play money” that you can get real money for will lure in the people who just want the money. Source https://foreignpolicy.com/ | David Gerard.
Today I expect Bitcoin to move in the range of $62-64k, continued growth of altcoins and market capitalization. A variation below 62k is an alternative. The main support levels are $62/61k, the main resistance levels remain the same at $63500-64000.
Interestingly, nearly 3 out of 4 professional investors in a Bank of America survey see Bitcoin as a bubble. Insurance giant AXA has begun accepting Bitcoin payments in Switzerland. A Miami Commissioner, now wants to allow residents to pay taxes in Bitcoin. According to a Thursday document acquired by the Miami New Times, County Commissioner Cohen Higgins has brought a resolution to Miami-Dade’s Infrastructure, Operations and Innovations Committee calling for the establishment of a 13-member crypto task force. Source | cointelegraph.com
#Bitcoin was in the price range of $63800-62000 in the last 26hrs. It later managed to gain a foothold above 62K. At the time of this writing, Bitcoin is worth 62,820. Total Crypto Market capitalization is at $2.262 Trillion and BTC dominance index of 52.1%
Equity markets rallied yesterday, driven by stronger tech, health and commodities sectors. The Dow Jones rose 0.90%, reaching an all-time high, the S&P 500 rose 1.11%, and the NASDAQ rose 1.31%. The dollar index fell 0.03%.
Bitcoin yesterday clearly worked out the priority version of our analysis and moved in the specified range, gaining a foothold above 62000. At the same time, altcoins feel confident, with the BTC dominance index at 52.1% and continue to fall.
April 15 was Ethereum day. The hard fork of Berlin took place, within which a change in the algorithm for calculating cost of gas and new types of transactions were introduced. Not everything went smoothly right away, and after the launch, a failure was recorded on the network, which was quickly eliminated. In addition, the cryptocurrency set a new all-time high of $2549 on #Binance exchange. Open interest in futures reached a record $ 8.1 billion.
Another star was Dogecoin, which grew by more than 100% in a day and set the new ATH at $ 0.29. It happened after another tweet by Elon Musk. This may not end well.. In the event of a negative tweet from the same guy.
FYI: Dogecoin started in December 2013, at the peak of the first big bitcoin bubble as the media likes to call it. Dogecoin was originally a joke cryptocurrency, taking its name from the “doge” internet meme: a picture of a shiba inu dog talking in Comic Sans font. The idea was to have fun and be silly with a cryptocurrency that was cheap enough to mess around with—each coin was worth a fraction of a cent. Dogecoin fans (nicknamed “shibes”) gathered on the Reddit forum /r/dogecoin. They would tip each other dogecoins for amusing comments.
To my surprise, The forum actually got into charity. Raised nearly $30,000 of dogecoins in January 2014 to send the Jamaican bobsled team to the 2014 Winter Olympics. Doge4Water raised $32,000 to supply clean water in #Kenya. 4 water projects were actualised (https://www.charitywater.org/projects/158-27?campaign_id=51029) They did this just by creating their own magical internet money, selling it for bitcoins, then selling the bitcoins for dollars—which was surprisingly feasible at the height of a bubble. Money changes everything—and “play money” that you can get real money for will lure in the people who just want the money. Source https://foreignpolicy.com/ | David Gerard.
Today I expect Bitcoin to move in the range of $62-64k, continued growth of altcoins and market capitalization. A variation below 62k is an alternative. The main support levels are $62/61k, the main resistance levels remain the same at $63500-64000.
Interestingly, nearly 3 out of 4 professional investors in a Bank of America survey see Bitcoin as a bubble. Insurance giant AXA has begun accepting Bitcoin payments in Switzerland. A Miami Commissioner, now wants to allow residents to pay taxes in Bitcoin. According to a Thursday document acquired by the Miami New Times, County Commissioner Cohen Higgins has brought a resolution to Miami-Dade’s Infrastructure, Operations and Innovations Committee calling for the establishment of a 13-member crypto task force. Source | cointelegraph.com
charity: water
Completed Water Project in Kenya - Kauriong
Thanks to you, this community now has access to clean and safe drinking water. Additionally, our local partners trained community health workers and local leaders to disseminate positive hygiene and household sanitation messages to their community members.
Investments made back in March 2012 by the venture capital firm Initialized Capital in the tune of $300,000 on the Crypto exchange #Coinbase run Brian Armstrong, which just listed in Nasdaq, turned into $565 million dollars. This started when Garry Tan received an email from the founder of a new startup called Bitbank(now #coinbase), Brian Armstrong. One lesson for Tan from his #Coinbase success: “When the lights start flashing, you need to do something. That’s when you need to push all the way in.” Full Story | Forbes.
The power of patience and investing.
Have a blessed day ahead, and remember must always do your own research. This is not traditional investment or financial advice. #Decryptedge
The power of patience and investing.
Have a blessed day ahead, and remember must always do your own research. This is not traditional investment or financial advice. #Decryptedge
Good morning ...
Today at 10am. Our weekly BITCOIN101 - Let's learn about...
-Crossing the Chasm: Bitcoin & Crypto's.
- Crypto-Markets news and this week updates.
Open Q & A session.
Join Zoom Meeting
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Today at 10am. Our weekly BITCOIN101 - Let's learn about...
-Crossing the Chasm: Bitcoin & Crypto's.
- Crypto-Markets news and this week updates.
Open Q & A session.
Join Zoom Meeting
https://us02web.zoom.us/j/82581245771?pwd=MFpGc1JLZ0phZWJyOHA4MnpjeWVjUT09
Meeting ID: 825 8124 5771
Passcode: BITCOIN101
#ARK buys another $64 mln in #Coinbase shares, sells $99.5 mln of #Tesla shares. Thoughts on the market on 17.04.2021
Reach out to Admins: @DkryptoL & @TichCrypto for any queries.
#Bitcoin declined during the day, having lost support at 61K, reached local lows around 60K, after which it returned above 62K. At the time of this writing, #Bitcoin is worth $62,240 with a dominance index of 51.3%. Total crypto market capitalization is at $2.272 Trillion
The stock market ended Friday trading with growth. The Dow Jones rose 0.48%, reaching an all-time high, the S&P 500 rose 0.36%, and the NASDAQ rose 0.10%. The volatility index fell 1.93% and the dollar index fell 0.09% to 91.540..
For #Bitcoin, an alternative option with a correction to 61K worked. Moreover, the correction plan was exceeded and Bitcoin reached local lows of about 60K (60051 according to data from #Binance Exchange). The price is now trying to gain a foothold above 62K.
Yesterday's leak was triggered by the news of the ban on the use of cryptocurrencies as a payment instrument in Turkey. The ban will come into force on April 30, 2021. The official reasons for announcing the ban are volatility, illegal use and the risk of theft. But the ban does not yet apply to exchange trading.
Dogecoin hit its highs again yesterday, hitting 0.45, pushing it to a market cap of over $ 54 billion and making it fifth in the coinmarketcap ranking. Bitcoin Cash surpassed $ 1,000 for the first time since the summer of 2018.
For today expect Bitcoin in the range of 60,000-64,000 and continued growth of altcoins. The option with a drift below 60k is an alternative. Major support level 62600, resistance level 60,000.
Interestingly, ARK Invest additionally acquired $ 110 million worth of #Coinbase shares. The Celebrity stockpicker Cathie Woods' ARK funds bought the shares of #Coinbase (COIN.O) a day after the cryptocurrency exchange's Nasdaq debut, according to the firm's daily trade summary on Thursday. Yesterday again they bought additional 187,078 shares of #Coinbase, in a purchase worth nearly $64 million at the day’s closing price of $342. The Coinbase purchases add to the 341,186 shares purchased on Thursday and 749,205 purchased on Wednesday. The bet on Coinbase gives ARK more indirect exposure to cryptocurrencies on top of its big bets on the likes of Tesla, which recently invested in bitcoin and said it would accept the cryptocurrency as payment for its cars.
Notably and on the contrary it sold 134,541 shares of Tesla, valued at $99.5 million at Friday's close. Tesla is still by far the firm's biggest position by value on its major funds. Source | Reuters.
As always wishing you a blessed weekend ahead, and remember must always do your own research. This is not traditional investment or financial advice. #Decryptedge,
Reach out to Admins: @DkryptoL & @TichCrypto for any queries.
#Bitcoin declined during the day, having lost support at 61K, reached local lows around 60K, after which it returned above 62K. At the time of this writing, #Bitcoin is worth $62,240 with a dominance index of 51.3%. Total crypto market capitalization is at $2.272 Trillion
The stock market ended Friday trading with growth. The Dow Jones rose 0.48%, reaching an all-time high, the S&P 500 rose 0.36%, and the NASDAQ rose 0.10%. The volatility index fell 1.93% and the dollar index fell 0.09% to 91.540..
For #Bitcoin, an alternative option with a correction to 61K worked. Moreover, the correction plan was exceeded and Bitcoin reached local lows of about 60K (60051 according to data from #Binance Exchange). The price is now trying to gain a foothold above 62K.
Yesterday's leak was triggered by the news of the ban on the use of cryptocurrencies as a payment instrument in Turkey. The ban will come into force on April 30, 2021. The official reasons for announcing the ban are volatility, illegal use and the risk of theft. But the ban does not yet apply to exchange trading.
Dogecoin hit its highs again yesterday, hitting 0.45, pushing it to a market cap of over $ 54 billion and making it fifth in the coinmarketcap ranking. Bitcoin Cash surpassed $ 1,000 for the first time since the summer of 2018.
For today expect Bitcoin in the range of 60,000-64,000 and continued growth of altcoins. The option with a drift below 60k is an alternative. Major support level 62600, resistance level 60,000.
Interestingly, ARK Invest additionally acquired $ 110 million worth of #Coinbase shares. The Celebrity stockpicker Cathie Woods' ARK funds bought the shares of #Coinbase (COIN.O) a day after the cryptocurrency exchange's Nasdaq debut, according to the firm's daily trade summary on Thursday. Yesterday again they bought additional 187,078 shares of #Coinbase, in a purchase worth nearly $64 million at the day’s closing price of $342. The Coinbase purchases add to the 341,186 shares purchased on Thursday and 749,205 purchased on Wednesday. The bet on Coinbase gives ARK more indirect exposure to cryptocurrencies on top of its big bets on the likes of Tesla, which recently invested in bitcoin and said it would accept the cryptocurrency as payment for its cars.
Notably and on the contrary it sold 134,541 shares of Tesla, valued at $99.5 million at Friday's close. Tesla is still by far the firm's biggest position by value on its major funds. Source | Reuters.
As always wishing you a blessed weekend ahead, and remember must always do your own research. This is not traditional investment or financial advice. #Decryptedge,
Today we look at After #bitcoin crackdown, #China now calls it an ‘investment alternative’ in a significant shift in tone and 50-Day SMA what does it even mean? Thoughts on the market on 19.04.2021
#Bitcoin fell below 51K over the weekend, reaching lows of $50931 on #Binance exchange. This correction was gradually bought out #Bitcoin moved to growth. At the time of this writing, Bitcoin is trading at #57100. Total Crypto Market capitalization is at $2.094 Trillion, with a #BTC dominance index of 50.9%.
Equity markets opened slightly lower. As of now, S&P 500 futures are down 0.17%. Gold and silver are falling.
For #Bitcoin, an alternative version of the Saturday analysis worked out. Having lost support at 60K, the price reached local lows below 51K (50931 on Binance). The corrections pulled the entire market with it, some altcoins lost up to 30% of their value. The volume of liquidations for Sunday amounted to about 10 billion, and according to the bybit exchange, more than 1 million traders became victims of such a dip. The aggregate market capitalization fell below 1.9 trillion and reached $1.895.
The #Bitcoin dip was fueled by several factors that converged over the weekend. Power outages in some regions of China, which accompanied sharp reductions in hash rates, up to 30% for the leading Bitcoin mining pools, inflated expectations of #Coinbase listing on #Nasdaq, news that the US Treasury has accused several companies of money laundering through digital currencies (already its refuted) and natural depletion of the market, we have been growing for a very long time. All these factors led to such a collapse.
For today expect #Bitcoin in the range $54000-58000. with an option drift below 54k is an alternative.
Interestingly China is exploring cryptocurrencies as an investment vehicle. The central bank official said stablecoins issued by private companies may require "stronger regulatory rules" than Bitcoin. Li Bo, recently appointed deputy governor of the People’s Bank of China, or PBoC, reportedly spoke on the benefits of crypto as an investment tool while highlighting regulatory uncertainty in the country surrounding digital assets.
“We believe that #Bitcoin and #stablecoins are encrypted assets,” said Li. “Encrypted assets are an investment option, not currency itself. It is an alternative investment, not currency itself. Therefore, we believe that crypto assets should play a major role in the future, either as an investment tool or as an alternative investment.” Source | https://cointelegraph.com/
So in closing, with Bitcoin falling sharply yesterday, dipping well below the 50-day simple moving average (SMA) support for the first time in six months. The decline looks typical of a bull market correction, it could be extended further if prices find acceptance under the 50-day SMA. The 50-day SMA is one of the most widely-tracked averages along with the 100- and 200-day SMAs. As such, violation of these SMA supports often invites stronger chart-driven selling.
Theoretically, the concept of daily close does not apply to crypto markets, as it is functional 24/7, unlike stock markets, which are open only for limited hours during weekdays.
For now, we are looking for a rebound and an exit from the $54000-58000 price range to $61K zone. This will be the first test level for bull's strength. If they break out, it will be a good sign. The real strength nonetheless will emerge when they break 68,000 and close above it weekly, then $78/82/100K can be in range.
What if the bulls fail to reclaim $65K and close above $68K weekly?! We shall talk about this later.
As always wishing you a blessed day ahead, and remember must always do your own research. This is not traditional investment or financial advice. #Decryptedge,
#Bitcoin fell below 51K over the weekend, reaching lows of $50931 on #Binance exchange. This correction was gradually bought out #Bitcoin moved to growth. At the time of this writing, Bitcoin is trading at #57100. Total Crypto Market capitalization is at $2.094 Trillion, with a #BTC dominance index of 50.9%.
Equity markets opened slightly lower. As of now, S&P 500 futures are down 0.17%. Gold and silver are falling.
For #Bitcoin, an alternative version of the Saturday analysis worked out. Having lost support at 60K, the price reached local lows below 51K (50931 on Binance). The corrections pulled the entire market with it, some altcoins lost up to 30% of their value. The volume of liquidations for Sunday amounted to about 10 billion, and according to the bybit exchange, more than 1 million traders became victims of such a dip. The aggregate market capitalization fell below 1.9 trillion and reached $1.895.
The #Bitcoin dip was fueled by several factors that converged over the weekend. Power outages in some regions of China, which accompanied sharp reductions in hash rates, up to 30% for the leading Bitcoin mining pools, inflated expectations of #Coinbase listing on #Nasdaq, news that the US Treasury has accused several companies of money laundering through digital currencies (already its refuted) and natural depletion of the market, we have been growing for a very long time. All these factors led to such a collapse.
For today expect #Bitcoin in the range $54000-58000. with an option drift below 54k is an alternative.
Interestingly China is exploring cryptocurrencies as an investment vehicle. The central bank official said stablecoins issued by private companies may require "stronger regulatory rules" than Bitcoin. Li Bo, recently appointed deputy governor of the People’s Bank of China, or PBoC, reportedly spoke on the benefits of crypto as an investment tool while highlighting regulatory uncertainty in the country surrounding digital assets.
“We believe that #Bitcoin and #stablecoins are encrypted assets,” said Li. “Encrypted assets are an investment option, not currency itself. It is an alternative investment, not currency itself. Therefore, we believe that crypto assets should play a major role in the future, either as an investment tool or as an alternative investment.” Source | https://cointelegraph.com/
So in closing, with Bitcoin falling sharply yesterday, dipping well below the 50-day simple moving average (SMA) support for the first time in six months. The decline looks typical of a bull market correction, it could be extended further if prices find acceptance under the 50-day SMA. The 50-day SMA is one of the most widely-tracked averages along with the 100- and 200-day SMAs. As such, violation of these SMA supports often invites stronger chart-driven selling.
Theoretically, the concept of daily close does not apply to crypto markets, as it is functional 24/7, unlike stock markets, which are open only for limited hours during weekdays.
For now, we are looking for a rebound and an exit from the $54000-58000 price range to $61K zone. This will be the first test level for bull's strength. If they break out, it will be a good sign. The real strength nonetheless will emerge when they break 68,000 and close above it weekly, then $78/82/100K can be in range.
What if the bulls fail to reclaim $65K and close above $68K weekly?! We shall talk about this later.
As always wishing you a blessed day ahead, and remember must always do your own research. This is not traditional investment or financial advice. #Decryptedge,
Cointelegraph
Cointelegraph Bitcoin & Ethereum Blockchain News
The most recent news about crypto industry at Cointelegraph. Latest news about bitcoin, ethereum, blockchain, mining, cryptocurrency prices and more
#TIME Partners with http://Crypto.com to Offer #Cryptocurrency as a Form of Payment. As a looming collapse of #Dogecoin. Thoughts on the market on 20.04.2021
#Bitcoin moved in the range of 57500-54200 during the day. An attempt to gain a foothold above 56K last night did not lead to success and Bitcoin turned to a decline. At the time of writing this review, it is trading around 54,800. Total Crypto Market capitalization is at $1.993Trillion and a BTC dominance index of 51.3%.
The stock market ended Monday trading lower on the back of negative dynamics from the consumer goods, technology and consumer services sectors. The Dow Jones fell 0.36%, the S&P 500 lost 0.53%, and the NASDAQ fell 0.98%. The volatility index is up 6.40% to 17.29, the dollar index is down 0.51% to 91.078
For #Bitcoin, the priority version of yesterday's forecast has worked out. After Sunday's price collapse below 51K, Bitcoin moved to growth and reached above 57500, after which a rollback went to the area of 54300-55700, where it is now.
Altcoins are following Bitcoin, market capitalization has dropped below $2trillion, dominance index is 51.3 and continues to fall.
So far, only #Dogecoin is holding and today it may continue to grow, many Doge holders expect the coin to reach 69 cents of a dollar. As a reminder, #Dogecoin is a meme coin. A meme is definition is an image, video, piece of text, cryptocurrency etc., typically humorous in nature, that is copied and spread rapidly by internet users, often with slight variations.
The outlook for today, expect #Bitcoin in the range 54000-57000. If we go below 54K, then again we can test 52 and even 51K, I don’t consider going below 50K yet. Major support level is 54000, followed by 52000, major resistance levels are $56000 and 57000.
Interestingly, The American TIME magazine began accepting cryptocurrency as a payment method for subscriptions. Announcing this via their official twitter handle: TIME Partners with http://Crypto.com to Offer Cryptocurrency as a Form of Payment. “Support #Journalism Become a #Time #Hodler '' Back on March 23, we mentioned about Time Magazine advertising for a CFO who has “comfort with Bitcoin and cryptocurrencies. post (https://t.me/decryptedge/390)
On other news Reshma Patel, a candidate for the post of Treasurer of New York, called for investing in cryptocurrencies. “New York City needs to think creatively about its post-pandemic recovery, says a candidate for city comptroller. This includes investments in the city’s blockchain industry. A Democratic candidate for the city’s chief financial officer position, unveiled a “future proof” plan for New York on Monday centered around investments in blockchain businesses and cryptocurrencies. There are 12 candidates for the office, including 10 other Democrats, according to Ballotpedia. As reported by coindesk.
Charles Hoskinson, CEO of IOHK company behind Cardano(ADA), questioned the prospects for Proof-of-Work, noting a sharp drop in the hashrate of the Bitcoin network in April and called for the abandonment of Proof-of-Work. He also predicted the collapse of #Dogecoin.
“People wake up! This situation is impossible in Proof-of-Stake. The Nakamoto consensus is the road to nowhere, ” Hoskinson said. Earlier, the head of IOHK marked the beginning of a "large flow of value" in Proof-of-Stake-based networks such as Ethereum 2.0, Polkadot and others. Cardano dropped Proof-of-Work after activating the Shelley update in July 2020. “The problem with Bitcoin is that because of its nature, it will never get better. The more successful it is, the higher the price; the higher the price, the more competition and more energy costs for the production of the first cryptocurrency , "Hoskinson explained then. Well I respect his views, but don't agree in my opinion.
#Bitcoin moved in the range of 57500-54200 during the day. An attempt to gain a foothold above 56K last night did not lead to success and Bitcoin turned to a decline. At the time of writing this review, it is trading around 54,800. Total Crypto Market capitalization is at $1.993Trillion and a BTC dominance index of 51.3%.
The stock market ended Monday trading lower on the back of negative dynamics from the consumer goods, technology and consumer services sectors. The Dow Jones fell 0.36%, the S&P 500 lost 0.53%, and the NASDAQ fell 0.98%. The volatility index is up 6.40% to 17.29, the dollar index is down 0.51% to 91.078
For #Bitcoin, the priority version of yesterday's forecast has worked out. After Sunday's price collapse below 51K, Bitcoin moved to growth and reached above 57500, after which a rollback went to the area of 54300-55700, where it is now.
Altcoins are following Bitcoin, market capitalization has dropped below $2trillion, dominance index is 51.3 and continues to fall.
So far, only #Dogecoin is holding and today it may continue to grow, many Doge holders expect the coin to reach 69 cents of a dollar. As a reminder, #Dogecoin is a meme coin. A meme is definition is an image, video, piece of text, cryptocurrency etc., typically humorous in nature, that is copied and spread rapidly by internet users, often with slight variations.
The outlook for today, expect #Bitcoin in the range 54000-57000. If we go below 54K, then again we can test 52 and even 51K, I don’t consider going below 50K yet. Major support level is 54000, followed by 52000, major resistance levels are $56000 and 57000.
Interestingly, The American TIME magazine began accepting cryptocurrency as a payment method for subscriptions. Announcing this via their official twitter handle: TIME Partners with http://Crypto.com to Offer Cryptocurrency as a Form of Payment. “Support #Journalism Become a #Time #Hodler '' Back on March 23, we mentioned about Time Magazine advertising for a CFO who has “comfort with Bitcoin and cryptocurrencies. post (https://t.me/decryptedge/390)
On other news Reshma Patel, a candidate for the post of Treasurer of New York, called for investing in cryptocurrencies. “New York City needs to think creatively about its post-pandemic recovery, says a candidate for city comptroller. This includes investments in the city’s blockchain industry. A Democratic candidate for the city’s chief financial officer position, unveiled a “future proof” plan for New York on Monday centered around investments in blockchain businesses and cryptocurrencies. There are 12 candidates for the office, including 10 other Democrats, according to Ballotpedia. As reported by coindesk.
Charles Hoskinson, CEO of IOHK company behind Cardano(ADA), questioned the prospects for Proof-of-Work, noting a sharp drop in the hashrate of the Bitcoin network in April and called for the abandonment of Proof-of-Work. He also predicted the collapse of #Dogecoin.
“People wake up! This situation is impossible in Proof-of-Stake. The Nakamoto consensus is the road to nowhere, ” Hoskinson said. Earlier, the head of IOHK marked the beginning of a "large flow of value" in Proof-of-Stake-based networks such as Ethereum 2.0, Polkadot and others. Cardano dropped Proof-of-Work after activating the Shelley update in July 2020. “The problem with Bitcoin is that because of its nature, it will never get better. The more successful it is, the higher the price; the higher the price, the more competition and more energy costs for the production of the first cryptocurrency , "Hoskinson explained then. Well I respect his views, but don't agree in my opinion.