Swiss Financial holding UBS Group will open access to Cryptocurrencies for clients.. Thoughts on the market on 11.05.021
Yesterday. Bitcoin tried several times to gain a foothold above 59K, but did not succeed and moved to a decline to $53400 on Binance exchange. The correction from 53K was then redeemed and at the time of writing the review, Bitcoin is trading at about 54,991. Total Crypto Market capitalization of $2. 384 Trillion, dominance index 43.2%.
The stock market ended Monday trading with a fall. The Dow Jones fell 0.10%, the S&P 500 fell 1.04%, and the NASDAQ fell 2.55%. The volatility index rose 17.80% to 19.66, hitting a new monthly high. Gold and oil are also declining.
On the Cryptomarket, the priority version of yesterday's analysis worked out and even exceeded it. Bitcoin struggled to stay above 59K and even test the 60K resistance zone for strength, but failed and went down. Market capitalization has dropped below $ 2.5 trillion, dominance index is 43.2% and continues to fall.
Altcoins followed Bitcoin, the drawdown on the top alts is on average 10-15%, for some assets it is significantly higher. As a rule: digital assets that have grown the most fall the most.
If Bitcoin today cannot overcome the resistance at 56K and above, then most likely it will continue to decline, the key support is now at 53,500, if we go even lower, we can reach 52K. Leaving above 56K will open the way for 57 and 59K.
Interestingly, Swiss financial holding UBS Group will open access to cryptocurrencies for clients. “The Swiss firm is exploring several alternatives for offering the asset class, people familiar with the plan said,” according to Bloomberg. “Any investment offering would be a very small portion of the clients’ total wealth because of the volatility, while options include investing through third party investment vehicles, one of the people said.” Sources also voiced concern that clients would leave UBS if it did not start offering some sort of cryptocurrency investment options to its clients. Recently, many of its highest-profile competitors have signaled their plans to grant bitcoin exposure to their own clients. For instance, this year, BNY Mellon has announced a bitcoin strategy for its clients, Morgan Stanley has announced plans to allow clients to invest in bitcoin funds and Goldman Sachs has shared details around its work to offer BTC investment vehicles and recently offered bitcoin derivatives.
Lastly Ethereum co-founder Vitalik Buterin turned out to be the largest holder of the Shiba Inu cryptocurrency, a clone of the Dogecoin meme cryptocurrency. A source.
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
Yesterday. Bitcoin tried several times to gain a foothold above 59K, but did not succeed and moved to a decline to $53400 on Binance exchange. The correction from 53K was then redeemed and at the time of writing the review, Bitcoin is trading at about 54,991. Total Crypto Market capitalization of $2. 384 Trillion, dominance index 43.2%.
The stock market ended Monday trading with a fall. The Dow Jones fell 0.10%, the S&P 500 fell 1.04%, and the NASDAQ fell 2.55%. The volatility index rose 17.80% to 19.66, hitting a new monthly high. Gold and oil are also declining.
On the Cryptomarket, the priority version of yesterday's analysis worked out and even exceeded it. Bitcoin struggled to stay above 59K and even test the 60K resistance zone for strength, but failed and went down. Market capitalization has dropped below $ 2.5 trillion, dominance index is 43.2% and continues to fall.
Altcoins followed Bitcoin, the drawdown on the top alts is on average 10-15%, for some assets it is significantly higher. As a rule: digital assets that have grown the most fall the most.
If Bitcoin today cannot overcome the resistance at 56K and above, then most likely it will continue to decline, the key support is now at 53,500, if we go even lower, we can reach 52K. Leaving above 56K will open the way for 57 and 59K.
Interestingly, Swiss financial holding UBS Group will open access to cryptocurrencies for clients. “The Swiss firm is exploring several alternatives for offering the asset class, people familiar with the plan said,” according to Bloomberg. “Any investment offering would be a very small portion of the clients’ total wealth because of the volatility, while options include investing through third party investment vehicles, one of the people said.” Sources also voiced concern that clients would leave UBS if it did not start offering some sort of cryptocurrency investment options to its clients. Recently, many of its highest-profile competitors have signaled their plans to grant bitcoin exposure to their own clients. For instance, this year, BNY Mellon has announced a bitcoin strategy for its clients, Morgan Stanley has announced plans to allow clients to invest in bitcoin funds and Goldman Sachs has shared details around its work to offer BTC investment vehicles and recently offered bitcoin derivatives.
Lastly Ethereum co-founder Vitalik Buterin turned out to be the largest holder of the Shiba Inu cryptocurrency, a clone of the Dogecoin meme cryptocurrency. A source.
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
Goldman Sachs executive quit after making a Killing on Dogecoin: Report: Thoughts on the market on 12 .05. 2021
Bitcoin managed to gain a foothold above 56K and continued its growth. At the time of writing this review, it's trading at around 57,800. Total Crypto Market capitalization is at $2. 541 Trillion, dominance index is at a low of 42.2%. I must write this review of declining BTC Dominance.
The stock market ended Tuesday trading with a fall. The Dow Jones fell 1.36%, the S&P 500 fell 0.87%, and the NASDAQ fell 0.09%. Gold and oil rose slightly. The dollar index dropped 0.02% to 90.168.
For Bitcoin, the scenario with consolidation above 56K worked out and now trying to do the same at 57500, the market capitalization has returned above 2.5 trillion. Altcoins have rallied to Monday's levels, the dominance index is 42.2% and continues to fall, which indicates an ongoing altseason.
Plan for today: Bitcoin in the range 56000-59000. If we fall below 56K, then again we can test 54500 and even 53500. The main support level is 56500, the main resistance levels 57500-58000, breaking through which will open the way for us to 60 and higher.
Interestingly, Elon Musk asked on Twitter by conducting a poll, if Tesla should accept Dogecoin to pay for cars. Almost 80% of users said yes. Another Twitter user asked @elonmusk “how about a liquidity test with doge?” On 28th April Tesla cashed out $101Million to test Bitcoin liquidity: https://t.me/decryptedge/478
EBay will add the ability to sell NFTs in the coming months, following an announcement early this month.
Lastly Aziz McMahon, a former Managing Director of Goldman Sachs in London, resigned after making millions from the growth of Dogecoin. HE reportedly raked in millions of dollars from cryptocurrency dogecoin — and then quit the Wall Street titan. Aziz was with the bank for more than 14 years, his LinkedIn profile shows, according to eFinancialCareers.
Remember, this not financial advice, analysis and crypto 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 🙏.
Bitcoin managed to gain a foothold above 56K and continued its growth. At the time of writing this review, it's trading at around 57,800. Total Crypto Market capitalization is at $2. 541 Trillion, dominance index is at a low of 42.2%. I must write this review of declining BTC Dominance.
The stock market ended Tuesday trading with a fall. The Dow Jones fell 1.36%, the S&P 500 fell 0.87%, and the NASDAQ fell 0.09%. Gold and oil rose slightly. The dollar index dropped 0.02% to 90.168.
For Bitcoin, the scenario with consolidation above 56K worked out and now trying to do the same at 57500, the market capitalization has returned above 2.5 trillion. Altcoins have rallied to Monday's levels, the dominance index is 42.2% and continues to fall, which indicates an ongoing altseason.
Plan for today: Bitcoin in the range 56000-59000. If we fall below 56K, then again we can test 54500 and even 53500. The main support level is 56500, the main resistance levels 57500-58000, breaking through which will open the way for us to 60 and higher.
Interestingly, Elon Musk asked on Twitter by conducting a poll, if Tesla should accept Dogecoin to pay for cars. Almost 80% of users said yes. Another Twitter user asked @elonmusk “how about a liquidity test with doge?” On 28th April Tesla cashed out $101Million to test Bitcoin liquidity: https://t.me/decryptedge/478
EBay will add the ability to sell NFTs in the coming months, following an announcement early this month.
Lastly Aziz McMahon, a former Managing Director of Goldman Sachs in London, resigned after making millions from the growth of Dogecoin. HE reportedly raked in millions of dollars from cryptocurrency dogecoin — and then quit the Wall Street titan. Aziz was with the bank for more than 14 years, his LinkedIn profile shows, according to eFinancialCareers.
Remember, this not financial advice, analysis and crypto 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 🙏.
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From #ElonMusk Cashing Out $101Million, #Turkey considering Being a #Crypto Custodian after #Banning It, to #Luxembourg , a 'digital frontrunner' in #Blockchain Thoughts on the market on 28.04.2021
#Bitcoin held above 55K and reached local highs of $55795…
#Bitcoin held above 55K and reached local highs of $55795…
MoneyGram to Allow Bitcoin Buying and Selling Across Retail Network. Thoughts on the market on 13.05.2021
Bitcoin in the last 24hrs continued to fall, a low 46,000 was registered on Binance exchange, after which the price returned above 50K where it is currently being traded. Total Crypto Market capitalization is at $2.2 Trillion, dominance index of 41.6%.
The stock market ended too with a fall on Wednesday. The Dow Jones fell 1.99% to hit a monthly low, the S&P 500 fell 2.15%, and the NASDAQ fell 2.67%. The volatility index rose 26.33% to 27.59, hitting a new monthly high. The dollar index rose 0.70% to 90.757. Markets are under pressure from information about tightening monetary policy and raising rates by a quarter percentage point by the end of 2022 due to accelerating inflation, which turned out to be higher than expected in April.
Bitcoin has been falling for several days in a row, early this morning the minimum price touched 46,000 on Binance, and up to 45,000 on other exchanges (Kraken). 1 Trillion Capitalization Lost and Dominance Index Falls Below 42%
A sell off began after information about the transfer of a large amount of Bitcoin and Ether to the exchanges, in Crypto land this is perceived as preparing the whales for sales, and the tweet from Elon Musk about stopping the acceptance of Bitcoin as payment for electric cars until the mining of BTC became more environmentally sustainable. In the same place, he said that Tesla is already considering other cryptocurrencies that use less than 1% of Bitcoin's energy per transaction. Not yet clear which coin is this.
Altcoins followed Bitcoin with some losing up to 20% of their value. The Bitcoin dominance index continues to fall, which indicates a possible continued growth of altcoins.
If Bitcoin cannot gain a foothold above 52K, this may give rise to a further sell off and then we can test 48 and 46K again. When fixing above 52K, we go to 54 and above.
All this does not affect the medium-term prospects of the asset. Factors that brought Bitcoin above 60K have not gone away and are even intensifying, and such market situations should be used as an opportunity.
Interestingly MoneyGram money transfer service will allow customers to buy and sell bitcoin for cash. As reported by coindesk, MoneyGram International said Wednesday it will allow customers to buy and sell bitcoin (BTC, -10.31%) for cash at 12,000 U.S. retail locations through a partnership with Coinme. The cash transfer company plans to introduce bitcoin trades in 20,000 stores across 32 states by Q3, Coinme CEO Neil Bergquist told CoinDesk. His crypto firm already facilitates cash-for-bitcoin swaps at around 6,000 supermarket kiosks.
MoneyGram and Coinme will take 4% of customers’ transactions plus $2.75 in fees. Walmart-based MoneyGram locations will charge $2 more, he said.
Wishing you a great cautionary weekend ahead, and remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
Bitcoin in the last 24hrs continued to fall, a low 46,000 was registered on Binance exchange, after which the price returned above 50K where it is currently being traded. Total Crypto Market capitalization is at $2.2 Trillion, dominance index of 41.6%.
The stock market ended too with a fall on Wednesday. The Dow Jones fell 1.99% to hit a monthly low, the S&P 500 fell 2.15%, and the NASDAQ fell 2.67%. The volatility index rose 26.33% to 27.59, hitting a new monthly high. The dollar index rose 0.70% to 90.757. Markets are under pressure from information about tightening monetary policy and raising rates by a quarter percentage point by the end of 2022 due to accelerating inflation, which turned out to be higher than expected in April.
Bitcoin has been falling for several days in a row, early this morning the minimum price touched 46,000 on Binance, and up to 45,000 on other exchanges (Kraken). 1 Trillion Capitalization Lost and Dominance Index Falls Below 42%
A sell off began after information about the transfer of a large amount of Bitcoin and Ether to the exchanges, in Crypto land this is perceived as preparing the whales for sales, and the tweet from Elon Musk about stopping the acceptance of Bitcoin as payment for electric cars until the mining of BTC became more environmentally sustainable. In the same place, he said that Tesla is already considering other cryptocurrencies that use less than 1% of Bitcoin's energy per transaction. Not yet clear which coin is this.
Altcoins followed Bitcoin with some losing up to 20% of their value. The Bitcoin dominance index continues to fall, which indicates a possible continued growth of altcoins.
If Bitcoin cannot gain a foothold above 52K, this may give rise to a further sell off and then we can test 48 and 46K again. When fixing above 52K, we go to 54 and above.
All this does not affect the medium-term prospects of the asset. Factors that brought Bitcoin above 60K have not gone away and are even intensifying, and such market situations should be used as an opportunity.
Interestingly MoneyGram money transfer service will allow customers to buy and sell bitcoin for cash. As reported by coindesk, MoneyGram International said Wednesday it will allow customers to buy and sell bitcoin (BTC, -10.31%) for cash at 12,000 U.S. retail locations through a partnership with Coinme. The cash transfer company plans to introduce bitcoin trades in 20,000 stores across 32 states by Q3, Coinme CEO Neil Bergquist told CoinDesk. His crypto firm already facilitates cash-for-bitcoin swaps at around 6,000 supermarket kiosks.
MoneyGram and Coinme will take 4% of customers’ transactions plus $2.75 in fees. Walmart-based MoneyGram locations will charge $2 more, he said.
Wishing you a great cautionary weekend ahead, and remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
MicroStrategy CEO Michael Sailor Bags More BTC $ 15 million, Bloomberg FUD on Binance to Another Swiss bank and Samsung Providing Crypto Solutions: Thoughts on the market on 14. 05. 2021
Bitcoin was in the range of 51300-46000 during the day. The correction to 46K was quickly redeemed and Bitcoin moved to growth, but so far it cannot pass the resistance area at 50K. At the time of this writing, it is trading at around 49300 with a total Crypto Market capitalization of $2.2 Trillion and BTC dominance index of 41.1%.
The stock market ended Thursday trading with growth. The Dow Jones is up 1.29%, the S&P 500 is up 1.22%, and the NASDAQ is up 0.72%. The dollar index rose 0.03% to 90.715. Gold and oil declines.
With the crypto market again in a negative, Bitcoin could not gain a foothold above 52K and went down to a decline. The sell-off began following the emergence of FUD from Bloomberg, which revealed that the world's largest cryptocurrency exchange, Binance, is under investigation by the US Department of Justice and the IRS. Changpeng Zhao(CZ) came out on twitter and said that the news was not true, Bloomberg was irresponsible and it was necessary to unsubscribe from such resources. If you read the entire article has an utterly terrible title. Clickbait level misinformation.
MicroStrategy CEO Michael Sailor also came to the rescue by announcing another $ 15 million BTC purchase. Let me remind you that MicroStrategy became the first public company to buy Bitcoin and is the largest holder of the asset, now they have 91,850 BTC on their balance sheet with an average purchase price of $ 24,400. Only 32 public companies that are traded on the stock market have Bitcoin on their balance sheets, and there are 40,000 such companies, just imagine the growth opportunities if at least 10% of them enter the crypto market. Crazy right? Tomorrow we will be talking on our Btcoin101 about deciphering such data.
The priority option for today is Bitcoin in the 48000-51000 range and selective growth of altcoins. An alternative option is a correction below 48000 with a possible test of 47000-46000.
Interestingly, Swiss state bank Postfinance launches an app supporting 13 cryptocurrencies. The banking subsidiary of the national postal service of Switzerland, Postfinance, has launched a mobile app providing clients with access to cryptocurrencies, ETFs and more. The software allows users to make payments, save funds or invest in various assets, with a commitment to a level of security provided only by the country’s leading online banks. Source | news.bitcoin
Coinbase CEO Brian Armstrong said he will add Dogecoin in the next 6-8 weeks. As reported by coindesk, Coinbase will add meme-based cryptocurrency dogecoin (DOGE, +27.4%) to the U.S. cryptocurrency exchange’s offerings, CEO Brian Armstrong said on the company’s Q1 earnings call.
Coinbase makes most of its money from transaction fees on its platform, reported a total revenue of $1.801 billion. The company earned $3.05 per share. Wall Street expected Coinbase to earn $3.07 a share on revenue of $1.81 billion. Coinbase said it had 56 million verified users, including more than 8,000 institutions. Monthly transacting users were 6.1 million during the quarter, in line with its earlier forecasts.
Lastly Korean tech giant Samsung added support for third-party cryptocurrency hardware wallets, including the Ledger Nano S and Nano X, to its range of Galaxy smartphones. Users of Samsung Galaxy smartphones can now link their device to their hardware wallets to manage and trade cryptocurrencies via the Samsung Blockchain Wallet app. Samsung first introduced support for blockchain on its smartphones in 2019, with the introduction of the Samsung Blockchain Keystore and Wallet.
To our Muslim brothers and sisters Eid Mubarak to you and your family. May this Eid bring nothing but joy and peace for all. Have a safe and happy Eid. As always, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge
Bitcoin was in the range of 51300-46000 during the day. The correction to 46K was quickly redeemed and Bitcoin moved to growth, but so far it cannot pass the resistance area at 50K. At the time of this writing, it is trading at around 49300 with a total Crypto Market capitalization of $2.2 Trillion and BTC dominance index of 41.1%.
The stock market ended Thursday trading with growth. The Dow Jones is up 1.29%, the S&P 500 is up 1.22%, and the NASDAQ is up 0.72%. The dollar index rose 0.03% to 90.715. Gold and oil declines.
With the crypto market again in a negative, Bitcoin could not gain a foothold above 52K and went down to a decline. The sell-off began following the emergence of FUD from Bloomberg, which revealed that the world's largest cryptocurrency exchange, Binance, is under investigation by the US Department of Justice and the IRS. Changpeng Zhao(CZ) came out on twitter and said that the news was not true, Bloomberg was irresponsible and it was necessary to unsubscribe from such resources. If you read the entire article has an utterly terrible title. Clickbait level misinformation.
MicroStrategy CEO Michael Sailor also came to the rescue by announcing another $ 15 million BTC purchase. Let me remind you that MicroStrategy became the first public company to buy Bitcoin and is the largest holder of the asset, now they have 91,850 BTC on their balance sheet with an average purchase price of $ 24,400. Only 32 public companies that are traded on the stock market have Bitcoin on their balance sheets, and there are 40,000 such companies, just imagine the growth opportunities if at least 10% of them enter the crypto market. Crazy right? Tomorrow we will be talking on our Btcoin101 about deciphering such data.
The priority option for today is Bitcoin in the 48000-51000 range and selective growth of altcoins. An alternative option is a correction below 48000 with a possible test of 47000-46000.
Interestingly, Swiss state bank Postfinance launches an app supporting 13 cryptocurrencies. The banking subsidiary of the national postal service of Switzerland, Postfinance, has launched a mobile app providing clients with access to cryptocurrencies, ETFs and more. The software allows users to make payments, save funds or invest in various assets, with a commitment to a level of security provided only by the country’s leading online banks. Source | news.bitcoin
Coinbase CEO Brian Armstrong said he will add Dogecoin in the next 6-8 weeks. As reported by coindesk, Coinbase will add meme-based cryptocurrency dogecoin (DOGE, +27.4%) to the U.S. cryptocurrency exchange’s offerings, CEO Brian Armstrong said on the company’s Q1 earnings call.
Coinbase makes most of its money from transaction fees on its platform, reported a total revenue of $1.801 billion. The company earned $3.05 per share. Wall Street expected Coinbase to earn $3.07 a share on revenue of $1.81 billion. Coinbase said it had 56 million verified users, including more than 8,000 institutions. Monthly transacting users were 6.1 million during the quarter, in line with its earlier forecasts.
Lastly Korean tech giant Samsung added support for third-party cryptocurrency hardware wallets, including the Ledger Nano S and Nano X, to its range of Galaxy smartphones. Users of Samsung Galaxy smartphones can now link their device to their hardware wallets to manage and trade cryptocurrencies via the Samsung Blockchain Wallet app. Samsung first introduced support for blockchain on its smartphones in 2019, with the introduction of the Samsung Blockchain Keystore and Wallet.
To our Muslim brothers and sisters Eid Mubarak to you and your family. May this Eid bring nothing but joy and peace for all. Have a safe and happy Eid. As always, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge
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- Crypto-Markets news and this week updates.
- Open Q & A session.
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US City now accepts cryptocurrency to pay utility bills as DBS Private Bank starts Asia’s first bank-backed crypto trust service. Thoughts on the market on 15. 05. 2021
Yesterday, Bitcoin moved in the range of 51500-48800, there were several attempts to gain a foothold above 51K, but did not and have not yet yielded results and at the time of writing the review, Bitcoin is trading at about 48,335. Total Crypto Market capitalization is at $2.3 Trillion with a dropping BTC dominance index of 40.1%
The stock market ended Friday trading with growth. The Dow Jones climbed 1.06%, the S&P 500 rose 1.49%, and the NASDAQ rose 2.32%. The volatility index fell 18.68% to 18.81, while the dollar index dropped 0.46% to 90.317. Gold and oil are growing.
With Bitcoin working a priority version of yesterday’s analysis moving in the specified range of 48-51K. A high of 51480 was registered on Binance. Price didn't manage to gain a foothold above 51K, and now has gone below 48K.
Altcoins are holding confidently, BTC dominance index is at 40.1% and continues to fall, the alt season continues.
This weekend I expect Bitcoin in the range of 48000-51000, with a possible test of 46k. If in the near future we will not be able to gain a foothold above 51-52K, then it is possible that the price moves to 44K. Do not forget that on the thin weekend market, movements by a couple of thousand points in any direction are possible.
Interestingly a city in the US now accepts cryptocurrency for utility bills. The City of Williston is taking bills, digitally. Effective immediately, any type of cryptocurrency will now be accepted as a form of payment. Currently, utility bills are the only bills eligible, but over time officials say they hope to expand it to other things like landfill usage, permits and licenses. The city’s Finance Director tells KX News shifting to this form of payment option will help lower physical interactions and provide more of a convenience for people. Source | wwlp.com
The largest bank in Singapore has launched trusts based on Bitcoin, Ethereum, Bitcoin Cash and XRP. The offering will allow private banking clients to invest, custodize and manage these assets in a safe, secure, and structured manner, DBS Group Holdings said in a statement on Friday (May 14). It builds on the DBS Digital Exchange, which launched in December, and offers institutional investors and accredited investors a fully-integrated tokenization, trading and custody ecosystem for digital assets. The service applies only to cryptocurrencies hosted on the digital exchange: Bitcoin, Ether, Bitcoin Cash and XRP. We talked about DBS back on 28th October 2020 when they were launching an exchange and later in December: https://t.me/decryptedge/43 Lest you forget: Not your private keys not your coins.
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.
Yesterday, Bitcoin moved in the range of 51500-48800, there were several attempts to gain a foothold above 51K, but did not and have not yet yielded results and at the time of writing the review, Bitcoin is trading at about 48,335. Total Crypto Market capitalization is at $2.3 Trillion with a dropping BTC dominance index of 40.1%
The stock market ended Friday trading with growth. The Dow Jones climbed 1.06%, the S&P 500 rose 1.49%, and the NASDAQ rose 2.32%. The volatility index fell 18.68% to 18.81, while the dollar index dropped 0.46% to 90.317. Gold and oil are growing.
With Bitcoin working a priority version of yesterday’s analysis moving in the specified range of 48-51K. A high of 51480 was registered on Binance. Price didn't manage to gain a foothold above 51K, and now has gone below 48K.
Altcoins are holding confidently, BTC dominance index is at 40.1% and continues to fall, the alt season continues.
This weekend I expect Bitcoin in the range of 48000-51000, with a possible test of 46k. If in the near future we will not be able to gain a foothold above 51-52K, then it is possible that the price moves to 44K. Do not forget that on the thin weekend market, movements by a couple of thousand points in any direction are possible.
Interestingly a city in the US now accepts cryptocurrency for utility bills. The City of Williston is taking bills, digitally. Effective immediately, any type of cryptocurrency will now be accepted as a form of payment. Currently, utility bills are the only bills eligible, but over time officials say they hope to expand it to other things like landfill usage, permits and licenses. The city’s Finance Director tells KX News shifting to this form of payment option will help lower physical interactions and provide more of a convenience for people. Source | wwlp.com
The largest bank in Singapore has launched trusts based on Bitcoin, Ethereum, Bitcoin Cash and XRP. The offering will allow private banking clients to invest, custodize and manage these assets in a safe, secure, and structured manner, DBS Group Holdings said in a statement on Friday (May 14). It builds on the DBS Digital Exchange, which launched in December, and offers institutional investors and accredited investors a fully-integrated tokenization, trading and custody ecosystem for digital assets. The service applies only to cryptocurrencies hosted on the digital exchange: Bitcoin, Ether, Bitcoin Cash and XRP. We talked about DBS back on 28th October 2020 when they were launching an exchange and later in December: https://t.me/decryptedge/43 Lest you forget: Not your private keys not your coins.
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.
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Thoughts on the market on 28.10.2020: #India Will Soon Have #Crypto ‘#Banking’ at 22 Physical Locations
Bitcoin went up and out of the trading range, once again updated its annual highs above 13780, and has been trading in the range of 13540-13760 for more…
Bitcoin went up and out of the trading range, once again updated its annual highs above 13780, and has been trading in the range of 13540-13760 for more…
Bitcoin Falls after Elon Musk suggests Tesla may have dumped holdings of the cryptocurrency. Thoughts on the market on 17. 05. 2021
Bitcoin lost support at 49K over the weekend and moved to a decline, a low of 42200 registered at Binance. At the time of this writing, Bitcoin is trading at 43,166. Total Crypto Market capitalization is at $2 Trillion and BTC dominance index of 40.3%.
Equity markets opened slightly lower. At the moment, futures for the S&P 500 are in a slight minus, Asian indices are trading in different directions, gold and silver are growing.
An alternative review was worked on the crypto market with the price going to 44K and even exceeded it, reaching 42200 on Binance exchange. The capitalization of the entire market fell below 2 trillion, and BTC dominance index fell to 39%.
Elon Musk is all to blame for another tweet from him where he "threatened" to sell all the Bitcoin that Tesla owns, go broke and put everything on Doge. I am more than sure that this Musk's new plan and logical outcome will soon follow which will move the crypto markets. I wouldn't be surprised if Tesla already dumped the rest of their #Bitcoin holdings." Yesterday, Musk also tweeted at Peter McCormack, who posted a Twitter thread about Musk's criticism of bitcoin and support for dogecoin, saying that "obnoxious threads like this make me want to go all in on Doge." Watch this space Bitcoin will humble anyone.
FYI, the factors that brought Bitcoin above 60K have not gone away, but are only getting stronger.
Plan for today. If Bitcoin fails to overcome the 45K resistance, we will continue to decline, the key support is now at 42,000, further losses could bring the main cryptocurrency to 40,000. Exit and consolidation above 46,500 will open the way to 48K.
This will be a rollacoaster week, strap in as I wish you a great cautionary days ahead, and remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
Bitcoin lost support at 49K over the weekend and moved to a decline, a low of 42200 registered at Binance. At the time of this writing, Bitcoin is trading at 43,166. Total Crypto Market capitalization is at $2 Trillion and BTC dominance index of 40.3%.
Equity markets opened slightly lower. At the moment, futures for the S&P 500 are in a slight minus, Asian indices are trading in different directions, gold and silver are growing.
An alternative review was worked on the crypto market with the price going to 44K and even exceeded it, reaching 42200 on Binance exchange. The capitalization of the entire market fell below 2 trillion, and BTC dominance index fell to 39%.
Elon Musk is all to blame for another tweet from him where he "threatened" to sell all the Bitcoin that Tesla owns, go broke and put everything on Doge. I am more than sure that this Musk's new plan and logical outcome will soon follow which will move the crypto markets. I wouldn't be surprised if Tesla already dumped the rest of their #Bitcoin holdings." Yesterday, Musk also tweeted at Peter McCormack, who posted a Twitter thread about Musk's criticism of bitcoin and support for dogecoin, saying that "obnoxious threads like this make me want to go all in on Doge." Watch this space Bitcoin will humble anyone.
FYI, the factors that brought Bitcoin above 60K have not gone away, but are only getting stronger.
Plan for today. If Bitcoin fails to overcome the 45K resistance, we will continue to decline, the key support is now at 42,000, further losses could bring the main cryptocurrency to 40,000. Exit and consolidation above 46,500 will open the way to 48K.
This will be a rollacoaster week, strap in as I wish you a great cautionary days ahead, and remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
Bank of America In partnership with Paxos, as Myspace Founder Tom Anderson a multi-millionaire before 40, now devoted to architecture,photography and design ‘Buys The Dip. Thoughts on the market on 18.05.2021
Yesterday, Bitcoin lost support at 45K and went down, reaching a local low of $42,000 on Finance Exchange. This correction was bought out and Bitcoin started to grow, before recovering to 45K where it is currently trading, it fell again to 42K. At the time of writing this review, the main cryptocurrency is trading at around $45,235. A total Crypto Market capitalization of $2.1 Trillion with a BTC dominance index of 40.2%.
The stock market ended Monday trading with a fall. The Dow Jones fell 0.16%, the S&P 500 lost 0.25%, and the NASDAQ fell 0.60%. Gold and silver are on the rise. Oil is also showing growth and is approaching $ 70.
For Bitcoin, the priority version of yesterday's analysis worked out. Price could not overcome resistance at 45K and went down to 42K.
For today, if we hold higher, then the actual movement towards 46000-47500 is an option. If we go below 45K, we return to the previous trading range 45000-42000. This is an alternative option.
Interestingly, Bank of America joins Paxos Settlement Service, a blockchain-based securities settlement platform. Such a move will allow Bank of America to complete operations on the same day, a process that takes two days. This is a “more flexible and speedier” stock settlement system compared with that of the Depository Trust & Clearing Corporation, or DTCC, in which Bank of America is a direct participant. The DTCC settlement time is roughly two days, whereas Paxos’ service is capable of settling some stock trades in minutes. Coinbase (COIN) shares fell below $ 250, crypto exchange shares are selling as Bitcoin continues to plunge. Last we spoke about this: https://t.me/decryptedge/500 Crypto investors were pouring money into extremely speculative cryptocurrencies such as Dogecoin and Binance Coin -- tokens that the exchange doesn’t offer, not anymore for Dogecoin now. It will make a debut soon on the exchange. Source | cointelegraph.com
Lastly MySpace founder Tom Anderson bought bitcoin after the collapse on May 17 and joined the laser eyes flash mob. This is from a tweet. The Tech entrepreneur took to social media to share his reaction on the latest crypto market correction which pushed the price of bitcoin (BTC) below $43,000 on Monday. Cheering up worried and agitated crypto enthusiasts, Anderson tweeted “Buying The Dip” and attached a laser eye meme of himself. Tom Anderson is now spending most of his time away from public attention. His Twitter bio reads “Enjoying the good life” and lists his latest hobbies including surfing and photography. He retired as a multi-millionaire before turning 40 to devote to another passion, architecture, and design, more than a decade ago. He is also a known traveler sharing pictures of exotic destinations on Instagram regularly. Source | news.Bitcoin.com
As always wishing you a blessed day ahead, and remember, you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
Yesterday, Bitcoin lost support at 45K and went down, reaching a local low of $42,000 on Finance Exchange. This correction was bought out and Bitcoin started to grow, before recovering to 45K where it is currently trading, it fell again to 42K. At the time of writing this review, the main cryptocurrency is trading at around $45,235. A total Crypto Market capitalization of $2.1 Trillion with a BTC dominance index of 40.2%.
The stock market ended Monday trading with a fall. The Dow Jones fell 0.16%, the S&P 500 lost 0.25%, and the NASDAQ fell 0.60%. Gold and silver are on the rise. Oil is also showing growth and is approaching $ 70.
For Bitcoin, the priority version of yesterday's analysis worked out. Price could not overcome resistance at 45K and went down to 42K.
For today, if we hold higher, then the actual movement towards 46000-47500 is an option. If we go below 45K, we return to the previous trading range 45000-42000. This is an alternative option.
Interestingly, Bank of America joins Paxos Settlement Service, a blockchain-based securities settlement platform. Such a move will allow Bank of America to complete operations on the same day, a process that takes two days. This is a “more flexible and speedier” stock settlement system compared with that of the Depository Trust & Clearing Corporation, or DTCC, in which Bank of America is a direct participant. The DTCC settlement time is roughly two days, whereas Paxos’ service is capable of settling some stock trades in minutes. Coinbase (COIN) shares fell below $ 250, crypto exchange shares are selling as Bitcoin continues to plunge. Last we spoke about this: https://t.me/decryptedge/500 Crypto investors were pouring money into extremely speculative cryptocurrencies such as Dogecoin and Binance Coin -- tokens that the exchange doesn’t offer, not anymore for Dogecoin now. It will make a debut soon on the exchange. Source | cointelegraph.com
Lastly MySpace founder Tom Anderson bought bitcoin after the collapse on May 17 and joined the laser eyes flash mob. This is from a tweet. The Tech entrepreneur took to social media to share his reaction on the latest crypto market correction which pushed the price of bitcoin (BTC) below $43,000 on Monday. Cheering up worried and agitated crypto enthusiasts, Anderson tweeted “Buying The Dip” and attached a laser eye meme of himself. Tom Anderson is now spending most of his time away from public attention. His Twitter bio reads “Enjoying the good life” and lists his latest hobbies including surfing and photography. He retired as a multi-millionaire before turning 40 to devote to another passion, architecture, and design, more than a decade ago. He is also a known traveler sharing pictures of exotic destinations on Instagram regularly. Source | news.Bitcoin.com
As always wishing you a blessed day ahead, and remember, you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
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Metromile Will Embrace Bitcoin For Insurance Premium And Claim Payments, as Coinbase Shares Plunges to All-Time Low. Thoughts on the market as of 07. 05. 2021
Yesterday, Bitcoin tried several times to gain a foothold above 58K but did not succeed and began…
Yesterday, Bitcoin tried several times to gain a foothold above 58K but did not succeed and began…
Bitcoin Falls Sharply after China Signals Crypto Crackdown. Thoughts on the market on 19.05. 2021
Yesterday, Bitcoin tried several times to gain a foothold above 45K but did not succeed and began to decline, a low of 37200 on Binance exchange has so far been attained at the time of writing this review. Total Crypto Market capitalization is $1.8 Trillion with BTC dominance index of 40%.
The stock market ended Tuesday trading with a fall. The Dow Jones fell 0.78%, the S&P 500 lost 0.85%, and the NASDAQ fell 0.56%. Gold and silver are also declining.
An alternative analysis developed on the crypto market. Moreover, the correction plan was exceeded with Bitcon now at $37,200 on Binance exchanged. Likely draw even lower.
The leak was triggered by FUD over another cryptocurrency ban in China. The three associations, which are overseen by the government and the People's Bank of China, have issued a joint notice prohibiting companies from supporting cryptocurrency-related businesses. In a joint statement issued on the People’s Bank of China’s WeChat account, banking and internet industry associations said that financial and payment institutions should not accept cryptocurrencies as payment or offer services and products related to them. Virtual currency “is not a real currency” and “should not and cannot be used as currency in the market”, the groups said in the statement issued late on Tuesday, which referred to a recent surge in prices as “speculation”.
Bitcoin was trading at a low of just over $38,500 on Wednesday morning in Asia, according to the Bitstamp exchange. The development reflected China’s campaign to limit institutional activity in cryptocurrencies as it prepares to launch its own digital currency. Other markets such as the US have remained comparatively open to institutional involvement. The associations themselves do not decide anything, but only supervise the market participants, but this was enough to catch up with the horror and push the price below 40K. Cryptocurrency market capitalization fell below 2 trillion again, dominance index 40%, altcoins are growing selectively. Source | FT.
This reminds me of an article I wrote back on the question about crypto regulation: https://t.me/decryptedge/227
All this does not bother the likes of Michael Saylor, the head of MicroStrategy, who again bought more 229 Bitcoins for $ 10 million. And now MicroStrategy owns 92,079 BTC worth over $ 4 billion, and their average purchase price is $ 24,450.
Plan for today. If Bitcoin cannot gain a foothold above 40K, then there is a possibility of a decline to 37000-36000 with a lower exit to 34,687. Alternative could be fixing above 43K against all odds.
Let me remind you that Bitcoin at 40K or even at 37-36 in its properties, advantages and prospects is no different from Bitcoin at 60K. But at the same time it is much more interesting for the price. Until you yourself sold Bitcoin cheaper than you bought it, you have no loss, you need to sell when it is expensive.
As always wishing you a blessed day ahead, and remember, you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
Yesterday, Bitcoin tried several times to gain a foothold above 45K but did not succeed and began to decline, a low of 37200 on Binance exchange has so far been attained at the time of writing this review. Total Crypto Market capitalization is $1.8 Trillion with BTC dominance index of 40%.
The stock market ended Tuesday trading with a fall. The Dow Jones fell 0.78%, the S&P 500 lost 0.85%, and the NASDAQ fell 0.56%. Gold and silver are also declining.
An alternative analysis developed on the crypto market. Moreover, the correction plan was exceeded with Bitcon now at $37,200 on Binance exchanged. Likely draw even lower.
The leak was triggered by FUD over another cryptocurrency ban in China. The three associations, which are overseen by the government and the People's Bank of China, have issued a joint notice prohibiting companies from supporting cryptocurrency-related businesses. In a joint statement issued on the People’s Bank of China’s WeChat account, banking and internet industry associations said that financial and payment institutions should not accept cryptocurrencies as payment or offer services and products related to them. Virtual currency “is not a real currency” and “should not and cannot be used as currency in the market”, the groups said in the statement issued late on Tuesday, which referred to a recent surge in prices as “speculation”.
Bitcoin was trading at a low of just over $38,500 on Wednesday morning in Asia, according to the Bitstamp exchange. The development reflected China’s campaign to limit institutional activity in cryptocurrencies as it prepares to launch its own digital currency. Other markets such as the US have remained comparatively open to institutional involvement. The associations themselves do not decide anything, but only supervise the market participants, but this was enough to catch up with the horror and push the price below 40K. Cryptocurrency market capitalization fell below 2 trillion again, dominance index 40%, altcoins are growing selectively. Source | FT.
This reminds me of an article I wrote back on the question about crypto regulation: https://t.me/decryptedge/227
All this does not bother the likes of Michael Saylor, the head of MicroStrategy, who again bought more 229 Bitcoins for $ 10 million. And now MicroStrategy owns 92,079 BTC worth over $ 4 billion, and their average purchase price is $ 24,450.
Plan for today. If Bitcoin cannot gain a foothold above 40K, then there is a possibility of a decline to 37000-36000 with a lower exit to 34,687. Alternative could be fixing above 43K against all odds.
Let me remind you that Bitcoin at 40K or even at 37-36 in its properties, advantages and prospects is no different from Bitcoin at 60K. But at the same time it is much more interesting for the price. Until you yourself sold Bitcoin cheaper than you bought it, you have no loss, you need to sell when it is expensive.
As always wishing you a blessed day ahead, and remember, you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
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Exchanges will remain only in a gray zone, without any AML / KYC, which will make Bitcoin even more attractive for many. Oddly enough, in this scenario, it will reach 100K even faster.
The downside of this scenario is its low probability. The same States…
The downside of this scenario is its low probability. The same States…
#India may set up a new panel to study #crypto #regulations, Amidst Fear, Uncertainty and Doubt in the #Cryptomarkets. Today’s Thoughts : 20.05. 2021
#Bitcoin lost support by 40K and went down, reaching a low of 30,000 on Binance exchange. This correction was quickly bought out and Bitcoin went up. At the time of writing, Bitcoin is trading at around 39,300. Total Crypto Market capitalization of $1.662 Trillion and BTC dominance index of 44.4%.
The stock market ended with a fall too on Wednesday. The Dow Jones fell 0.48%, the S&P 500 fell 0.29%, and the NASDAQ fell 0.03%. Markets have been declining for the third straight session on investors' fears of rising inflation, which will force the Fed to tighten its policy. Therefore, most market participants are trying to get rid of risky assets.
On the #cryptomarket, at first everything went according to the priority forecast option. Bitcoin could not gain a foothold above 40K and went down, having reached the specified level of 36K, we pushed off and moved on to growth, but then a sell off began again pushing the price to $30,000 on Binance. Some Altcoins lost up to -40 percent or more.
The market was somewhat rescued by Michael Sailor, CEO of MicroStrategy, who revealed that his companies own 111,000 BTC and none of them sold a single bitcoin. Elon Musk too, who posted a reminder on Twitter that Tesla has diamond hands and continues to hold its ground in Bitcoin. Justin Sun, founder of TRON, announced that he has acquired $ 150 million worth of bitcoins. And many others.
TheBlock analytics showed that amid the market collapse, the number of addresses on which Bitcoin is stored for more than one year has grown to the highest level in history. This suggests that "short-term investors" were selling themselves at a loss, while others were buying at a discount. Yesterday I warned about this that until you yourself sold Bitcoin cheaper than you bought it, you have no loss, you need to sell when it is expensive.
Interestingly, #India could set up a committee to study the rules of cryptography. three sources privy of the discussions told ET. This comes amid the prevailing view that the recommendations by a committee headed by former finance secretary Subhash Garg in 2019 for a blanket ban on these assets had become outdated. Minister of State for Finance and Corporate Affairs, Anurag Thakur, had earlier met with members from the crypto and banking industry forums in this regard. HIs is among the dozen or so names under consideration who may be part of the committee, which could also have representation from the opposition party.
Some officials said publicly that the government would take a “calibrated” approach in regulating cryptocurrency rather than impose an outright ban.
The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 was scheduled to be tabled in the Budget session of Parliament in March. However, it was deferred for reasons not made public.
This Bill, in its current form, is expected to not only criminalize trading but also the holding of cryptocurrency assets, much to the dismay of the nascent crypto industry in India.
In 2018, RBI had banned all banks from allowing customers to trade in cryptocurrency. However, the Supreme Court overturned the ban in February 2020 after a petition filed by Indian crypto entrepreneurs and technology and internet industry association IAMAI. Source: economictimes.indiatimes.com
In closing, if today, Bitcoin is unable to overcome the resistance at 40K and higher, then there is a possibility of a new decline, the key support levels are now at 36-34K. Leaving and fixing above 40K will open the way for 42 and above. Reason being, from a technical analysis point of view, as long as BTC Holding above 30K we are looking for a rebound to 48/51K zone then another Dump from 51/54 to 35/30/25/20K maybe a lower time frame for this movement 7/15 Days from now! If Bears break down we will see 26K/22K/18K and this will give a good chance to buy. Right now we are trading above 30K.
#Bitcoin lost support by 40K and went down, reaching a low of 30,000 on Binance exchange. This correction was quickly bought out and Bitcoin went up. At the time of writing, Bitcoin is trading at around 39,300. Total Crypto Market capitalization of $1.662 Trillion and BTC dominance index of 44.4%.
The stock market ended with a fall too on Wednesday. The Dow Jones fell 0.48%, the S&P 500 fell 0.29%, and the NASDAQ fell 0.03%. Markets have been declining for the third straight session on investors' fears of rising inflation, which will force the Fed to tighten its policy. Therefore, most market participants are trying to get rid of risky assets.
On the #cryptomarket, at first everything went according to the priority forecast option. Bitcoin could not gain a foothold above 40K and went down, having reached the specified level of 36K, we pushed off and moved on to growth, but then a sell off began again pushing the price to $30,000 on Binance. Some Altcoins lost up to -40 percent or more.
The market was somewhat rescued by Michael Sailor, CEO of MicroStrategy, who revealed that his companies own 111,000 BTC and none of them sold a single bitcoin. Elon Musk too, who posted a reminder on Twitter that Tesla has diamond hands and continues to hold its ground in Bitcoin. Justin Sun, founder of TRON, announced that he has acquired $ 150 million worth of bitcoins. And many others.
TheBlock analytics showed that amid the market collapse, the number of addresses on which Bitcoin is stored for more than one year has grown to the highest level in history. This suggests that "short-term investors" were selling themselves at a loss, while others were buying at a discount. Yesterday I warned about this that until you yourself sold Bitcoin cheaper than you bought it, you have no loss, you need to sell when it is expensive.
Interestingly, #India could set up a committee to study the rules of cryptography. three sources privy of the discussions told ET. This comes amid the prevailing view that the recommendations by a committee headed by former finance secretary Subhash Garg in 2019 for a blanket ban on these assets had become outdated. Minister of State for Finance and Corporate Affairs, Anurag Thakur, had earlier met with members from the crypto and banking industry forums in this regard. HIs is among the dozen or so names under consideration who may be part of the committee, which could also have representation from the opposition party.
Some officials said publicly that the government would take a “calibrated” approach in regulating cryptocurrency rather than impose an outright ban.
The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 was scheduled to be tabled in the Budget session of Parliament in March. However, it was deferred for reasons not made public.
This Bill, in its current form, is expected to not only criminalize trading but also the holding of cryptocurrency assets, much to the dismay of the nascent crypto industry in India.
In 2018, RBI had banned all banks from allowing customers to trade in cryptocurrency. However, the Supreme Court overturned the ban in February 2020 after a petition filed by Indian crypto entrepreneurs and technology and internet industry association IAMAI. Source: economictimes.indiatimes.com
In closing, if today, Bitcoin is unable to overcome the resistance at 40K and higher, then there is a possibility of a new decline, the key support levels are now at 36-34K. Leaving and fixing above 40K will open the way for 42 and above. Reason being, from a technical analysis point of view, as long as BTC Holding above 30K we are looking for a rebound to 48/51K zone then another Dump from 51/54 to 35/30/25/20K maybe a lower time frame for this movement 7/15 Days from now! If Bears break down we will see 26K/22K/18K and this will give a good chance to buy. Right now we are trading above 30K.
As always wishing you a blessed day ahead, and remember, you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
#US #Treasury proposes crypto transactions over $10K be reported to #IRS. Thoughts on the Crypto market on 21.05. 2021
#Bitcoin again returned to above 40K and continued to grow, registering highs above 42451 on Binance Exchange, after which it rolled back to 38K. At the time of writing this review, Bitcoin is worth 40,100 with a dominance index of 42.5% and Total Crypto Market Capitalization of $1. 78 Trillion.
The stock market ended Thursday trading with growth. The Dow Jones climbed 0.55%, the S&P 500 rose 1.06%, and the NASDAQ rose 1.94%. Gold and silver sagged.
For Bitcoin, the scenario with a fixation above 40K worked out. With price regaining above 42000 on Binance, altcoins are holding confidently, the dominance index is 42.5% and continues to fall, which means they will show a further growth.
Plan for today. If Bitcoin cannot gain a foothold above 42K, this may give rise to a new sell off and then we can test 40 and 38K again. Fixing above 42K will open the way for us at 43200 and 45700 where the main resistance levels are located. For complete TA look at our yesterdays review here: https://t.me/decryptedge/526
Interestingly the US Treasury offers to report cryptocurrency transactions over $ 10,000 to the IRS. Officials at the United States Department of the Treasury are calling for exchanges and custodians to report crypto transactions greater than $10,000 to the Internal Revenue Service. In a report released on Thursday concerning tax proposals for President Joe Biden’s American Families Plan, the Treasury Department took aim at digital assets by proposing businesses including banks, payment providers and cryptocurrency exchanges report more information on their inflows and outflows from accounts each year starting in 2023. At the moment, the IRS does not have independent verification of such transactions, potentially leading to a widening tax gap — the difference between taxes owed and paid. Source | https://cointelegraph.com/
So in closing, here are my thoughts. History does repeat itself, but it does rhyme, when we compare the 2017 price movement with the current one we will find there was a trick and hunting for stop-losses before the rebound !! The price may drop to $34/32K again before pumping to $48K. This view of cause can fail, no one can predict the market in the short term, price can break out for sure If you are keen to ride the wave, buy at 36500 - 34500 - 33500. Not Financial advice.
As always wishing you a blessed day ahead, and remember, you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
#Bitcoin again returned to above 40K and continued to grow, registering highs above 42451 on Binance Exchange, after which it rolled back to 38K. At the time of writing this review, Bitcoin is worth 40,100 with a dominance index of 42.5% and Total Crypto Market Capitalization of $1. 78 Trillion.
The stock market ended Thursday trading with growth. The Dow Jones climbed 0.55%, the S&P 500 rose 1.06%, and the NASDAQ rose 1.94%. Gold and silver sagged.
For Bitcoin, the scenario with a fixation above 40K worked out. With price regaining above 42000 on Binance, altcoins are holding confidently, the dominance index is 42.5% and continues to fall, which means they will show a further growth.
Plan for today. If Bitcoin cannot gain a foothold above 42K, this may give rise to a new sell off and then we can test 40 and 38K again. Fixing above 42K will open the way for us at 43200 and 45700 where the main resistance levels are located. For complete TA look at our yesterdays review here: https://t.me/decryptedge/526
Interestingly the US Treasury offers to report cryptocurrency transactions over $ 10,000 to the IRS. Officials at the United States Department of the Treasury are calling for exchanges and custodians to report crypto transactions greater than $10,000 to the Internal Revenue Service. In a report released on Thursday concerning tax proposals for President Joe Biden’s American Families Plan, the Treasury Department took aim at digital assets by proposing businesses including banks, payment providers and cryptocurrency exchanges report more information on their inflows and outflows from accounts each year starting in 2023. At the moment, the IRS does not have independent verification of such transactions, potentially leading to a widening tax gap — the difference between taxes owed and paid. Source | https://cointelegraph.com/
So in closing, here are my thoughts. History does repeat itself, but it does rhyme, when we compare the 2017 price movement with the current one we will find there was a trick and hunting for stop-losses before the rebound !! The price may drop to $34/32K again before pumping to $48K. This view of cause can fail, no one can predict the market in the short term, price can break out for sure If you are keen to ride the wave, buy at 36500 - 34500 - 33500. Not Financial advice.
As always wishing you a blessed day ahead, and remember, you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
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KryptoEdge
#India may set up a new panel to study #crypto #regulations, Amidst Fear, Uncertainty and Doubt in the #Cryptomarkets. Today’s Thoughts : 20.05. 2021
#Bitcoin lost support by 40K and went down, reaching a low of 30,000 on Binance exchange. This correction…
#Bitcoin lost support by 40K and went down, reaching a low of 30,000 on Binance exchange. This correction…