Exodus: Chinese #Bitcoin Miners Set Their Sights on Texas as #Thai SEC Board Approves Rules Governing Digital Asset Exchanges and #Africa Leads on #Bitcoin P2P Exchange. Thoughts on the market 16. 06. 2021
#Bitcoin moved in the range of 39500-41300 during the day. Another attempt to take 42K last night did not lead to success, at night Bitcoin rolled back to 39000, after which it moved to growth and at the time of writing the review is trading at about 40K. Total Crypto Market capitalization is at $1.7 Trillion, with BTC dominance index of 43.8%.
The stock market ended Tuesday trading with a fall. The Dow Jones fell 0.27%, the S&P 500 fell 0.20%, and the NASDAQ fell 0.71%. Gold continues to fall, oil is growing. The dollar index dropped 0.01% to 90.483.
On the cryptomarket, the priority version of yesterday's forecast worked out. Bitcoin remained in the indicated range, there were several attempts to gain a foothold above 41K, but have not yet yielded a success, the nearest resistance is forming around the level of $40,450. The dominance index is 43.8 and continues to grow, so it makes sense to buy BTC with altcoins and open short alts to the cue ball.
The plan for today is the same as yesterday. Bitcoin is in the range of 38000-42000 and we can go higher, an alternative option is to go to 38K. The main support levels are 39800-38500, and resistances are at 40650 and 41K.
The Thai Securities and Exchange Commission (SEC) has announced that it has banned local exchanges from trading shitcoins and NFT. Through a Government Gazette, the Notification became effective from 11 June 2021 onwards without retrospective effect. Essentially, Notification prescribes that digital asset exchanges set their listing rules and prohibits the exchanges from providing services related to utility tokens or cryptocurrencies that have any of the following characteristics:
(1) Meme token: having no clear objective or substance or underlying, and whose price running on social media trends;
(2) Fan token: tokenized by the fame of influencers;
(3) Non-fungible token (NFT): a digital creation to declare ownership or grant of right in an object or specific right. It is unique and not interchangeable with digital tokens of the same category and type at the equal amount;
(4) Digital tokens which are utilized in a blockchain transaction and issued by digital asset exchanges or related persons.
Lastly China’s mining dominance will be reducing, stemming from warnings issued from May, the government called for a severe crackdown on bitcoin mining and trading, setting off what’s being dubbed in crypto circles as “the great mining migration.” This exodus is underway now, and it could be a game changer for Texas. Despite 2021 data for the global distribution of mining power not yet available, past estimates have shown that 65% to 75% of the world’s bitcoin mining happened in China – mostly in four Chinese provinces: Xinjiang, Inner Mongolia, Sichuan and Yunnan. Sichuan and Yunnan’s hydropower make them renewable energy meccas, while Xinjiang and Inner Mongolia are home to many of China’s coal plants. The drawdown in miners has already begun in Inner Mongolia. After failing to meet Beijing’s climate targets, province leaders decided to give bitcoin miners two months to clear out, explicitly blaming its energy misses on crypto mines.
Lastly, African countries lead the pack in Bitcoin ‘peer-to-peer’ trading, data shows. A new report from UsefulTulips has shown that African countries recorded over 15 percent of the growth in their Bitcoin peer-to-peer trading volume in the last six months with the continent recording a transaction volume of $17 million in May 2021 which is a 50 percent increase year-over-year. Source : Cryptoslate.
Ping @Kaptichlouis if you want to get your eyes and keyboard hands on this report.
Remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
#Bitcoin moved in the range of 39500-41300 during the day. Another attempt to take 42K last night did not lead to success, at night Bitcoin rolled back to 39000, after which it moved to growth and at the time of writing the review is trading at about 40K. Total Crypto Market capitalization is at $1.7 Trillion, with BTC dominance index of 43.8%.
The stock market ended Tuesday trading with a fall. The Dow Jones fell 0.27%, the S&P 500 fell 0.20%, and the NASDAQ fell 0.71%. Gold continues to fall, oil is growing. The dollar index dropped 0.01% to 90.483.
On the cryptomarket, the priority version of yesterday's forecast worked out. Bitcoin remained in the indicated range, there were several attempts to gain a foothold above 41K, but have not yet yielded a success, the nearest resistance is forming around the level of $40,450. The dominance index is 43.8 and continues to grow, so it makes sense to buy BTC with altcoins and open short alts to the cue ball.
The plan for today is the same as yesterday. Bitcoin is in the range of 38000-42000 and we can go higher, an alternative option is to go to 38K. The main support levels are 39800-38500, and resistances are at 40650 and 41K.
The Thai Securities and Exchange Commission (SEC) has announced that it has banned local exchanges from trading shitcoins and NFT. Through a Government Gazette, the Notification became effective from 11 June 2021 onwards without retrospective effect. Essentially, Notification prescribes that digital asset exchanges set their listing rules and prohibits the exchanges from providing services related to utility tokens or cryptocurrencies that have any of the following characteristics:
(1) Meme token: having no clear objective or substance or underlying, and whose price running on social media trends;
(2) Fan token: tokenized by the fame of influencers;
(3) Non-fungible token (NFT): a digital creation to declare ownership or grant of right in an object or specific right. It is unique and not interchangeable with digital tokens of the same category and type at the equal amount;
(4) Digital tokens which are utilized in a blockchain transaction and issued by digital asset exchanges or related persons.
Lastly China’s mining dominance will be reducing, stemming from warnings issued from May, the government called for a severe crackdown on bitcoin mining and trading, setting off what’s being dubbed in crypto circles as “the great mining migration.” This exodus is underway now, and it could be a game changer for Texas. Despite 2021 data for the global distribution of mining power not yet available, past estimates have shown that 65% to 75% of the world’s bitcoin mining happened in China – mostly in four Chinese provinces: Xinjiang, Inner Mongolia, Sichuan and Yunnan. Sichuan and Yunnan’s hydropower make them renewable energy meccas, while Xinjiang and Inner Mongolia are home to many of China’s coal plants. The drawdown in miners has already begun in Inner Mongolia. After failing to meet Beijing’s climate targets, province leaders decided to give bitcoin miners two months to clear out, explicitly blaming its energy misses on crypto mines.
Lastly, African countries lead the pack in Bitcoin ‘peer-to-peer’ trading, data shows. A new report from UsefulTulips has shown that African countries recorded over 15 percent of the growth in their Bitcoin peer-to-peer trading volume in the last six months with the continent recording a transaction volume of $17 million in May 2021 which is a 50 percent increase year-over-year. Source : Cryptoslate.
Ping @Kaptichlouis if you want to get your eyes and keyboard hands on this report.
Remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
Mark Cuban 'Hit' by Apparent DeFi Rug Pull The He Shilled, as General Motors May Start Accepting #Bitcoin If There's Customer Demand, Says CEO Mary Barra. Thoughts on the market 17 .06. 2021
Bitcoin lost support at 40K and went down to a low of 38116 on #Binance Exchange. After which it began to recover. At the time of writing, Bitcoin is trading at 39,240, a total Crypto Market Capitalization of $1.7 Trillion and BTC dominance index of 45.1%
The stock market ended with a fall on Wednesday. The Dow Jones fell 0.77%, the S&P 500 fell 0.54%, and the NASDAQ fell 0.24%. Gold continues to fall, oil is growing. The dollar index climbed by 0.93% to 91.347.
Markets began to fall after Federal Reserve Chairman Jerome Powell said the Fed was raising its inflation expectations from 2.4% to 3.4%. Although Powell described the current surge in inflation as "temporary," consumer prices hit a 13-year high and analysts fear the rise in inflation will impact the economy's recovery from the coronavirus.
Bitcoin moved in the range of 38100-40500 yesterday and attempts to gain a foothold above 40K have not yet yielded a success, neither are we moving below 38K. The main resistance is now forming around the 39750-40000 zone, a breakout of which will give impetus to another assault attempt at 41K and higher.
Plan for today. If we cannot break through the resistance at 39750, then another correction to 38K is possible and we will not hold this level, then we will go even lower to the support zone at 36K, but I see the priority option to return to 40K (a fake out)
General Motors could start accepting Bitcoin if there is demand from customers, says CEO Mary Barra. General Motors CEO Mary Barra told CNBC Wednesday that "nothing precludes" her company from accepting Bitcoin payments: We'll be driven by our customers. Barra claims that GM strives to make its customers' buying and ownership experience "as easy as possible." Back in February, she said that her company would "continue evaluating" Bitcoin following Tesla's $1.5 billion bet on the largest cryptocurrency.
Source | U.Today.
Lastly, Mark Cuban was 'Hit' by Apparent DeFi Rug Pull. The IRON stablecoin—which is partially backed by USD Coin (USDC) and TITAN, also lost its peg. Mark Cuban in his June 13 blog post entitled “The Brilliance of Yield Farming, Liquidity Providing and Valuing Crypto Projects,” the Dallas Mavericks owner revealed that he was a liquidity provider for TITAN on decentralized exchange QuickSwap: Iron Finance—which had $2.2 billion in total value locked—urged all community members to withdraw liquidity from all pools in its Twitter statement, describing the incident as a "bank run." The statement also added that the contract didn’t allow for redemptions since the TITAN price collapsed to zero. On June 13, via a tweet he said: "Crypto Businesses make more sense than you think and valuing tokens is easier and makes more sense than you think." Three days later, that investment makes less sense. Responding to a suggestion that this was a rug pull— meaning when founders abandon a project after cashing out—Cuban responded: "I got hit like everyone else. Crazy part is I got out, thought they were increasing their TVL [total value locked] enough. Than Bam." Cuban told Decrypt via email: "Live and learn." Source | Decrypt.
Indeed let's live and learn, that's the whole reason why we run this channel. Don't blindly follow the so-called Crypto experts who have absolutely no crypto ethos in their grains, just here for the fad.
Have a great blessed day ahead, this weekend we shall be talking about Regulation Impact On Bitcoin & Cryptocurrencies. Make sure you plug in via Youtube live and zoom.
Remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
Bitcoin lost support at 40K and went down to a low of 38116 on #Binance Exchange. After which it began to recover. At the time of writing, Bitcoin is trading at 39,240, a total Crypto Market Capitalization of $1.7 Trillion and BTC dominance index of 45.1%
The stock market ended with a fall on Wednesday. The Dow Jones fell 0.77%, the S&P 500 fell 0.54%, and the NASDAQ fell 0.24%. Gold continues to fall, oil is growing. The dollar index climbed by 0.93% to 91.347.
Markets began to fall after Federal Reserve Chairman Jerome Powell said the Fed was raising its inflation expectations from 2.4% to 3.4%. Although Powell described the current surge in inflation as "temporary," consumer prices hit a 13-year high and analysts fear the rise in inflation will impact the economy's recovery from the coronavirus.
Bitcoin moved in the range of 38100-40500 yesterday and attempts to gain a foothold above 40K have not yet yielded a success, neither are we moving below 38K. The main resistance is now forming around the 39750-40000 zone, a breakout of which will give impetus to another assault attempt at 41K and higher.
Plan for today. If we cannot break through the resistance at 39750, then another correction to 38K is possible and we will not hold this level, then we will go even lower to the support zone at 36K, but I see the priority option to return to 40K (a fake out)
General Motors could start accepting Bitcoin if there is demand from customers, says CEO Mary Barra. General Motors CEO Mary Barra told CNBC Wednesday that "nothing precludes" her company from accepting Bitcoin payments: We'll be driven by our customers. Barra claims that GM strives to make its customers' buying and ownership experience "as easy as possible." Back in February, she said that her company would "continue evaluating" Bitcoin following Tesla's $1.5 billion bet on the largest cryptocurrency.
Source | U.Today.
Lastly, Mark Cuban was 'Hit' by Apparent DeFi Rug Pull. The IRON stablecoin—which is partially backed by USD Coin (USDC) and TITAN, also lost its peg. Mark Cuban in his June 13 blog post entitled “The Brilliance of Yield Farming, Liquidity Providing and Valuing Crypto Projects,” the Dallas Mavericks owner revealed that he was a liquidity provider for TITAN on decentralized exchange QuickSwap: Iron Finance—which had $2.2 billion in total value locked—urged all community members to withdraw liquidity from all pools in its Twitter statement, describing the incident as a "bank run." The statement also added that the contract didn’t allow for redemptions since the TITAN price collapsed to zero. On June 13, via a tweet he said: "Crypto Businesses make more sense than you think and valuing tokens is easier and makes more sense than you think." Three days later, that investment makes less sense. Responding to a suggestion that this was a rug pull— meaning when founders abandon a project after cashing out—Cuban responded: "I got hit like everyone else. Crazy part is I got out, thought they were increasing their TVL [total value locked] enough. Than Bam." Cuban told Decrypt via email: "Live and learn." Source | Decrypt.
Indeed let's live and learn, that's the whole reason why we run this channel. Don't blindly follow the so-called Crypto experts who have absolutely no crypto ethos in their grains, just here for the fad.
Have a great blessed day ahead, this weekend we shall be talking about Regulation Impact On Bitcoin & Cryptocurrencies. Make sure you plug in via Youtube live and zoom.
Remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
#Bitcoin Clean Energy and Accumulation, as Bank of England: Any UK #CBDC Will Be ‘Tens of Thousands’ Times More Efficient Than #Bitcoin. Thoughts on the market 18.06.2021.
#Bitcoin declined yesterday and reached a price of 37213 on #Binance Exchange. At the time of writing this review, Bitcoin is trading at around 37,900, with a Total Crypto Market capitalization of 1.5 Trillion, and BTC dominance index of 45.1%.
The stock market finished trading on Thursday in different directions. The Dow Jones fell 0.62%, hitting a monthly low, the S&P 500 fell 0.04%, and the NASDAQ rose 0.87%. Gold continues to fall, reaching $ 1.775.15 per troy ounce. The dollar index rose 0.80% to 91.938.
#Bitcoin was unable to return above the key support zone of 40K and continued its decline, the minimum to which was 37213 on #Binance. Altcoins suffered even more, ethereum dropped to 2300.
Plan for today. If we cannot break through the resistance at 38200-38500, then we can go back to 37200, if we do not hold this level, then we can return to 36500-3500 my biased option, best probable. Departure above 38500 will open the way to 39500-40000.
I have already said that such a movement can continue for several weeks and I expect a denouement only in late June or early July, and the recent actions of the Fed once again confirm this.
I'm also sure that Musk should appear by the end of this month and announce the resumption of accepting payments in Bitcoin for #Tesla cars. Recently we talked about an exodus of miners to Texas, a tweet from the CEO of BTC.TOP & B.TOP confirms. “Now all the mining facilities in Xinjiang, Inner Mongolia and Qinghai provinces have been shut down, only hydropower mining farms in Sichuan are left. Currently the clean energy usage by #Bitcoin miners already exceed 50%. This confirms the clean energy discussion that has been ongoing.
On some other news Bitcoin Whales have amassed around 90,000 Bitcoins worth $ 367 billion over the past 25 days, according to Santiment analytics platform. Everyone is waiting! While many whales and miners appear to be hodling their coins in expectation of higher prices, transaction monitor Whale Alert has identified two transfers of roughly 5,000 BTC, or $200 million each, destined for Coinbase since Monday, suggesting at least some large investors are looking to trade their Bitcoin. Source | Cointelegraph
Lastly, according to the Bank of England’s fintech director, the technology behind central bank digital currencies (CBDC) could be “tens of thousands of times more efficient per transaction” than bitcoin. During his speech at the Future of FinTech Conference on Thursday, Tom Mutton gave attendees an overview of the Bank of England’s current standing on CBDCs. He also addressed the concerns around energy and the environment, saying: “Bitcoin, given its performance shortcomings and energy inefficiency, is in no way a relevant comparison for the sort of technology we might use in a central bank digital currency.” Mutton urged eco-conscious U.K. citizens not to “throw the blockchain baby out with the bitcoin bathwater.”
You know where the truth lies on Bitcoin energy efficiency, don't buy or get sucked into the fad. By the way, bitcoin flow to exchanges usually amounts to a sell off.
Always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
#Bitcoin declined yesterday and reached a price of 37213 on #Binance Exchange. At the time of writing this review, Bitcoin is trading at around 37,900, with a Total Crypto Market capitalization of 1.5 Trillion, and BTC dominance index of 45.1%.
The stock market finished trading on Thursday in different directions. The Dow Jones fell 0.62%, hitting a monthly low, the S&P 500 fell 0.04%, and the NASDAQ rose 0.87%. Gold continues to fall, reaching $ 1.775.15 per troy ounce. The dollar index rose 0.80% to 91.938.
#Bitcoin was unable to return above the key support zone of 40K and continued its decline, the minimum to which was 37213 on #Binance. Altcoins suffered even more, ethereum dropped to 2300.
Plan for today. If we cannot break through the resistance at 38200-38500, then we can go back to 37200, if we do not hold this level, then we can return to 36500-3500 my biased option, best probable. Departure above 38500 will open the way to 39500-40000.
I have already said that such a movement can continue for several weeks and I expect a denouement only in late June or early July, and the recent actions of the Fed once again confirm this.
I'm also sure that Musk should appear by the end of this month and announce the resumption of accepting payments in Bitcoin for #Tesla cars. Recently we talked about an exodus of miners to Texas, a tweet from the CEO of BTC.TOP & B.TOP confirms. “Now all the mining facilities in Xinjiang, Inner Mongolia and Qinghai provinces have been shut down, only hydropower mining farms in Sichuan are left. Currently the clean energy usage by #Bitcoin miners already exceed 50%. This confirms the clean energy discussion that has been ongoing.
On some other news Bitcoin Whales have amassed around 90,000 Bitcoins worth $ 367 billion over the past 25 days, according to Santiment analytics platform. Everyone is waiting! While many whales and miners appear to be hodling their coins in expectation of higher prices, transaction monitor Whale Alert has identified two transfers of roughly 5,000 BTC, or $200 million each, destined for Coinbase since Monday, suggesting at least some large investors are looking to trade their Bitcoin. Source | Cointelegraph
Lastly, according to the Bank of England’s fintech director, the technology behind central bank digital currencies (CBDC) could be “tens of thousands of times more efficient per transaction” than bitcoin. During his speech at the Future of FinTech Conference on Thursday, Tom Mutton gave attendees an overview of the Bank of England’s current standing on CBDCs. He also addressed the concerns around energy and the environment, saying: “Bitcoin, given its performance shortcomings and energy inefficiency, is in no way a relevant comparison for the sort of technology we might use in a central bank digital currency.” Mutton urged eco-conscious U.K. citizens not to “throw the blockchain baby out with the bitcoin bathwater.”
You know where the truth lies on Bitcoin energy efficiency, don't buy or get sucked into the fad. By the way, bitcoin flow to exchanges usually amounts to a sell off.
Always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
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China Bans Bitcoin Mining, Miami says Welcome: Thoughts on the market 19.06.2021.
Bitcoin lost support at 38K and moved to a decline, to a low price of 34803 on the Binance Exchange. As at the time of writing, Bitcoin is trading at 35400, with dominance index 44.6% and a total Crypto Market capitalization of $1.4Trillion.
The stock market ended Friday trading with a fall. The Dow Jones fell 1.58% to hit a monthly low, the S&P 500 fell 1.31%, and the NASDAQ fell 0.92%. Gold and silver also continue to fall. The volatility index rose 16.62% to 20.70, while the dollar index rose 0.47% to 92.308.
Markets are falling as Federal Reserve spokesman James Bullard said the US central bank could raise interest rates earlier than expected.
There is also no positive on the crypto market, Bitcoin has been falling for several days in a row, yesterday it lost important support at 36K, to a price of 34803 on Binance. Now trying to gain a foothold above 35K.
The fall was due to several reasons. The anticipation of some traders for a “cross of death” that may indicate a transition from bullish to bearish price trend may occur this weekend. Another ban by the authorities of the Chinese province of Sichuan, which ordered the miners to stop their activities until July 20. Re-establishing correlation with stock markets.
But all this negative does not negate the growth in the medium term. Miners will be sheltered in other countries, which is already happening. And inflationary expectations are only in favor of Bitcoin in the medium term.
On the weekend I expect Bitcoin in the range of 34000-38000. An alternative and probable option is Bitcoin correction to below 34K, in which case another test of 33-32K is possible. Do not forget that on the thin weekend market, movements by a couple of thousand points in any direction are possible.
To some news, banking giant BBVA - Spain's second largest bank - will offer Bitcoin trading and custody services in Switzerland. A publication by cointelegraph notes, According to a release issued on Friday, BBVA Switzerland will begin Bitcoin trading for all private banking clients interested in crypto assets from June 21.
This initial crypto trading service is only for Bitcoin but the bank says it has plans to extend its offering to other cryptocurrencies. However, BBVA says its crypto trading desk will not include any digital asset investment advisory services.
The authorities of the Chinese province of Sichuan ordered their activities to cease until July 20. This means China may lose its last space for #Bitcoin mining. Sichuan Development and Reform Commission and Energy Bureau issued a notice today, requiring the shutdown of 26 "suspected key projects" of virtual currency mining before June 20. What is not reported however is mining pools in Sichuan only use hydropower, which is clean energy. Sichuan has abundant hydropower. If miners don't use it, it'll be wasted otherwise.
While China wants to get rid of miners and puts pressure on them with all sorts of bans, Miami Mayor Francis Suarez, on the contrary, wants to turn Miami into a center for bitcoin mining and offers miners a shelter, as well as cheap and clean nuclear energy. Speaking to CNBC on Thursday, Mayor Suarez said he is inviting foreign mining companies to consider establishing data centers in the city. According to Suarez, Miami’s ample nuclear electricity supply should attract Bitcoin miners looking to adopt clean energy sources for their operations, especially amid the current spotlight on the supposed carbon footprint of crypto mining.
Wishing you a blessed weekend ahead, and always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
Note: What is Bitcoin Mining, you ask?
Bitcoin lost support at 38K and moved to a decline, to a low price of 34803 on the Binance Exchange. As at the time of writing, Bitcoin is trading at 35400, with dominance index 44.6% and a total Crypto Market capitalization of $1.4Trillion.
The stock market ended Friday trading with a fall. The Dow Jones fell 1.58% to hit a monthly low, the S&P 500 fell 1.31%, and the NASDAQ fell 0.92%. Gold and silver also continue to fall. The volatility index rose 16.62% to 20.70, while the dollar index rose 0.47% to 92.308.
Markets are falling as Federal Reserve spokesman James Bullard said the US central bank could raise interest rates earlier than expected.
There is also no positive on the crypto market, Bitcoin has been falling for several days in a row, yesterday it lost important support at 36K, to a price of 34803 on Binance. Now trying to gain a foothold above 35K.
The fall was due to several reasons. The anticipation of some traders for a “cross of death” that may indicate a transition from bullish to bearish price trend may occur this weekend. Another ban by the authorities of the Chinese province of Sichuan, which ordered the miners to stop their activities until July 20. Re-establishing correlation with stock markets.
But all this negative does not negate the growth in the medium term. Miners will be sheltered in other countries, which is already happening. And inflationary expectations are only in favor of Bitcoin in the medium term.
On the weekend I expect Bitcoin in the range of 34000-38000. An alternative and probable option is Bitcoin correction to below 34K, in which case another test of 33-32K is possible. Do not forget that on the thin weekend market, movements by a couple of thousand points in any direction are possible.
To some news, banking giant BBVA - Spain's second largest bank - will offer Bitcoin trading and custody services in Switzerland. A publication by cointelegraph notes, According to a release issued on Friday, BBVA Switzerland will begin Bitcoin trading for all private banking clients interested in crypto assets from June 21.
This initial crypto trading service is only for Bitcoin but the bank says it has plans to extend its offering to other cryptocurrencies. However, BBVA says its crypto trading desk will not include any digital asset investment advisory services.
The authorities of the Chinese province of Sichuan ordered their activities to cease until July 20. This means China may lose its last space for #Bitcoin mining. Sichuan Development and Reform Commission and Energy Bureau issued a notice today, requiring the shutdown of 26 "suspected key projects" of virtual currency mining before June 20. What is not reported however is mining pools in Sichuan only use hydropower, which is clean energy. Sichuan has abundant hydropower. If miners don't use it, it'll be wasted otherwise.
While China wants to get rid of miners and puts pressure on them with all sorts of bans, Miami Mayor Francis Suarez, on the contrary, wants to turn Miami into a center for bitcoin mining and offers miners a shelter, as well as cheap and clean nuclear energy. Speaking to CNBC on Thursday, Mayor Suarez said he is inviting foreign mining companies to consider establishing data centers in the city. According to Suarez, Miami’s ample nuclear electricity supply should attract Bitcoin miners looking to adopt clean energy sources for their operations, especially amid the current spotlight on the supposed carbon footprint of crypto mining.
Wishing you a blessed weekend ahead, and always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
Note: What is Bitcoin Mining, you ask?
From Wikipedia Mining is a record-keeping service done through the use of computer processing power.[g] Miners keep the blockchain consistent, complete, and unalterable by repeatedly grouping newly broadcast transactions into a block, which is then broadcast to the network and verified by recipient nodes.[114] Each block contains a SHA-256 cryptographic hash of the previous block,[114] thus linking it to the previous block and giving the blockchain its name.
#UK Bank TSB Set to Ban #Crypto Buying Due to E-Wallet Scam Concerns: Report. Thoughts on the market 21.06. 2021
#Bitcoin moved in the range of 33300-36100 over the weekend. There were several attempts to gain a foothold at 36K, but they did not yield a success and at the time of writing this review, Bitcoin is trading at about 34,300 with dominance index of 45.0% a total Crypto Market capitalization of $1.4 Trillion.
Stock markets opened in different directions. At the moment, futures for the S&P 500 are in the red by 0.53%, Asian indices have dipped, gold and oil are growing.
The alternative version of the Saturday analysis worked out. Bitcoin could not hold on to 34K and moved to a fall, to a low price of 33336 on #Binance exchange. Then there was a bounce towards 36K and again a fall to 34K where we are trading right now. Altcoins suffered even more, with a bitcoin dominance index of 45.0%.
Plan for today. If we cannot return above 3600 or even better 36500, then we can continue moving down to 33000 and 32000. Least likely, leaving and consolidating above 36000-36500 will open the way for 38 and higher.
Some new FUD is coming in, according to a report by the British newspaper The Times, TSB bank is reportedly about to ban its customers from buying crypto with funds managed by the bank. TSB is reportedly concerned about an “excessively high” fraud rate related to crypto exchanges operating in the country. As reported by Cryptopotatao: TSB is reportedly taking actions to prevent its customers from using Kraken and Binance to buy crypto because of their alleged poor safety measures. Recently, a survey by the UK’s Financial Conduct Authority revealed that the number of cryptocurrency investors had increased from last year, as had the average worth of cryptocurrency holdings by retailers. However, the FCA also found that the number of people with a poor understanding of cryptocurrencies also increased even though they invested in them. This is a worrying development for law enforcement and crime prevention agencies, as it provides a breeding ground for scammers and criminals to take advantage of a larger potential pool of victims who are less savvy than in previous years.
Always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
#Bitcoin moved in the range of 33300-36100 over the weekend. There were several attempts to gain a foothold at 36K, but they did not yield a success and at the time of writing this review, Bitcoin is trading at about 34,300 with dominance index of 45.0% a total Crypto Market capitalization of $1.4 Trillion.
Stock markets opened in different directions. At the moment, futures for the S&P 500 are in the red by 0.53%, Asian indices have dipped, gold and oil are growing.
The alternative version of the Saturday analysis worked out. Bitcoin could not hold on to 34K and moved to a fall, to a low price of 33336 on #Binance exchange. Then there was a bounce towards 36K and again a fall to 34K where we are trading right now. Altcoins suffered even more, with a bitcoin dominance index of 45.0%.
Plan for today. If we cannot return above 3600 or even better 36500, then we can continue moving down to 33000 and 32000. Least likely, leaving and consolidating above 36000-36500 will open the way for 38 and higher.
Some new FUD is coming in, according to a report by the British newspaper The Times, TSB bank is reportedly about to ban its customers from buying crypto with funds managed by the bank. TSB is reportedly concerned about an “excessively high” fraud rate related to crypto exchanges operating in the country. As reported by Cryptopotatao: TSB is reportedly taking actions to prevent its customers from using Kraken and Binance to buy crypto because of their alleged poor safety measures. Recently, a survey by the UK’s Financial Conduct Authority revealed that the number of cryptocurrency investors had increased from last year, as had the average worth of cryptocurrency holdings by retailers. However, the FCA also found that the number of people with a poor understanding of cryptocurrencies also increased even though they invested in them. This is a worrying development for law enforcement and crime prevention agencies, as it provides a breeding ground for scammers and criminals to take advantage of a larger potential pool of victims who are less savvy than in previous years.
Always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
#Israel Already Tested a Digital Shekel #Cryptocurrency, #Microstrategy Spends another $489 million on 13,005 #Bitcoin as #China Continues the Crypto Ban Drive. .Thoughts on the market 22. 06. 2021
#Bitcoin moved in the range of 35750-31150 during the last 24hrs. Corrections to 31K were quickly redeemed and at the time of writing this review, Bitcoin is trading at about 32,900 with a dominance index of 46.2%, and a total crypto market capitalization of $1.3 Trillion.
The stock market ended Monday trading with growth. The Dow Jones climbed 1.76%, the S&P 500 climbed 1.40%, and the NASDAQ rose 0.79%. Gold futures rose 0.81% to 1783.25 an ounce. The volatility index fell 13.62% to 17.88. The dollar index dropped 0.38% to 91.858.
With another negative on the crypto market, Bitcoin could not reach 36K and went down to a decrease, the minimum to which the price of the main cryptocurrency 31168 on #Binance exchanged was reached, China is again to blame with another ban. Yesterday, the Agricultural Bank of China (the third largest in the country), said that it prohibits the use of its services for transactions with virtual currencies, the same thing was dumped by other banks and one of the largest payment systems, part of the Alibaba Group - Alipay. If it were not for Michael Sailor with his news about the next purchases, which calmed the market a little, Bitcoin could have reached the critical level of 30K. MicroStrategy now owns more than 100,000 bitcoins after completing another purchase round, this time spending roughly $489 million on 13,005 tokens. Which in my biased opinion is inevitable.
The fear spread to the altcoin market as well, as a result of which most of the TOP fell by 15-18% and some fell even deeper. Ethereum dropped below 2K and the price reached a low of $1857. The dominance index is 46.2% and continues to grow, which means that the altcoins will continue to fall towards the cue ball.
Plan for today. If we cannot return 33800-34000, then again we will go to look for the bottom. The first important support is at the level of 31,500, followed by 30,000. I will consider the price below 30K soon, unless of course there is fundamental positive news on crypto. In the likely event of leaving and fixing above 34K will open the way for us 35-36K.
Israel has tested the electronic shekel. According to the statement of the Deputy Governor of the Central Bank of Israel, Andrew Abir, pilot testing of the Central Bank Digital Currency (CBCD) has already been carried out The concept of issuing such a currency has been in discussion since 2017, but it decided to accelerate its research and preparation for the potential issuance. Abir said he was not optimistic that such a central-bank digital currency (CBDC) would ever be launched. “I had previously estimated that the chance of having a CBDC within five years is 20%,” Abir said. “My estimate has increased a bit in the last year, mainly because other countries are advancing with it too. But still there is less than a 50% chance.”
FYI: Ascot Racecourse is a dual-purpose British racecourse, located in Ascot, Berkshire, England, which is used for thoroughbred horse racing. It hosts 13 of Britain's 36 annual Flat Group 1 horse races and three Grade 1 Jumps races. The Royal Ascot Dress Code can be traced back to the early 19th century when Beau Brummel, a close friend of the Prince Regent, decreed that men of elegance should wear waisted black coats and white cravats with pantaloons to the Royal Meeting. So what a nice twist to have #Bitcoin represented this royal event.
Wishing you a good afternoon ahead, and always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
#Bitcoin moved in the range of 35750-31150 during the last 24hrs. Corrections to 31K were quickly redeemed and at the time of writing this review, Bitcoin is trading at about 32,900 with a dominance index of 46.2%, and a total crypto market capitalization of $1.3 Trillion.
The stock market ended Monday trading with growth. The Dow Jones climbed 1.76%, the S&P 500 climbed 1.40%, and the NASDAQ rose 0.79%. Gold futures rose 0.81% to 1783.25 an ounce. The volatility index fell 13.62% to 17.88. The dollar index dropped 0.38% to 91.858.
With another negative on the crypto market, Bitcoin could not reach 36K and went down to a decrease, the minimum to which the price of the main cryptocurrency 31168 on #Binance exchanged was reached, China is again to blame with another ban. Yesterday, the Agricultural Bank of China (the third largest in the country), said that it prohibits the use of its services for transactions with virtual currencies, the same thing was dumped by other banks and one of the largest payment systems, part of the Alibaba Group - Alipay. If it were not for Michael Sailor with his news about the next purchases, which calmed the market a little, Bitcoin could have reached the critical level of 30K. MicroStrategy now owns more than 100,000 bitcoins after completing another purchase round, this time spending roughly $489 million on 13,005 tokens. Which in my biased opinion is inevitable.
The fear spread to the altcoin market as well, as a result of which most of the TOP fell by 15-18% and some fell even deeper. Ethereum dropped below 2K and the price reached a low of $1857. The dominance index is 46.2% and continues to grow, which means that the altcoins will continue to fall towards the cue ball.
Plan for today. If we cannot return 33800-34000, then again we will go to look for the bottom. The first important support is at the level of 31,500, followed by 30,000. I will consider the price below 30K soon, unless of course there is fundamental positive news on crypto. In the likely event of leaving and fixing above 34K will open the way for us 35-36K.
Israel has tested the electronic shekel. According to the statement of the Deputy Governor of the Central Bank of Israel, Andrew Abir, pilot testing of the Central Bank Digital Currency (CBCD) has already been carried out The concept of issuing such a currency has been in discussion since 2017, but it decided to accelerate its research and preparation for the potential issuance. Abir said he was not optimistic that such a central-bank digital currency (CBDC) would ever be launched. “I had previously estimated that the chance of having a CBDC within five years is 20%,” Abir said. “My estimate has increased a bit in the last year, mainly because other countries are advancing with it too. But still there is less than a 50% chance.”
FYI: Ascot Racecourse is a dual-purpose British racecourse, located in Ascot, Berkshire, England, which is used for thoroughbred horse racing. It hosts 13 of Britain's 36 annual Flat Group 1 horse races and three Grade 1 Jumps races. The Royal Ascot Dress Code can be traced back to the early 19th century when Beau Brummel, a close friend of the Prince Regent, decreed that men of elegance should wear waisted black coats and white cravats with pantaloons to the Royal Meeting. So what a nice twist to have #Bitcoin represented this royal event.
Wishing you a good afternoon ahead, and always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
New Bank of America Report Says #Digital Currencies 'Could Boost Economic Growth' in Developing Countries as Venture capital firm Blockchain Capital raises $300 million from #PayPal, #Visa. Thoughts on the market 23.06. 2021
#Bitcoin moved in the range of 33300-28800 during the last 24hrs. The correction to 28K was quickly redeemed and Bitcoin bounced back and at the time of writing this review its trading at about 34,000 with a dominance index of 46.9% and Crypto Market Capitalization of $1.3 Trillion.
The stock market ended Tuesday trading with growth. The Dow Jones climbed 0.20%, the S&P 500 rose 0.51%, and the NASDAQ rose 0.79%. Gold is falling, oil has remained at the same level. The dollar index was down 0.17% to 91.727.
The alternative analysis worked out,(https://t.me/decryptedge/598) Bitcoin, having lost important support at 30K, continued to look for a new bottom, the minimum to which the price of 28805 was attained on Binance Exchange. Altcoins amicably followed Ethereum dropped to 1700 yesterday and today it returned above 2K. Talk about wild price swings.
Plan for today. If Bitcoin cannot return to the 34000-34500 levels, then most likely we will continue to decline, the key support is now at 30K, if we go even lower, we can return to 28K again and a dump to $24/22K. We have an active bearish trend in my biased opinion. Departure above 34K will open the way to 35000 and 36500.
To some news a new report from Bank of America says digital currencies can spur economic growth in developing countries. The BOA research study found that the rise of digital currencies could potentially “undermine a country’s physical currency,” however. Expanding on these findings, Hauner stated: Easier access to alternative digital currencies is also likely to increase the volatility of domestic money supply and the exchange rate. Easier access to alternatives also raises the risks of rapid shifts of liquidity out of (or into) the currency and the banks which can magnify macro volatility in already less stable countries. Higher macro volatility would then reduce the effectiveness of policies and undermine the long-term rate of growth. Despite these risks, Hauner suggests that more central banks are “likely to issue a general purpose CBDC in the next three years.” As previously reported by Bitcoin.com News, several countries — including a few in Africa — are currently at different stages of developing or piloting their digital currencies. Several more countries are likely to join the race as more studies show that digital currency benefits outweigh the risks.
PayPal and Visa have partnered with $ 300 million investment fund Blockchain Capital. Blockchain Capital, the first venture capital firm founded to focus exclusively on blockchain technology and the crypto ecosystem, announced the close of Blockchain Capital V, LP. The fund was heavily oversubscribed at its $300 million hard cap with participation from strategic investors, pension funds, major university endowments and family offices from around the world. Since its inception in 2013, Blockchain Capital has invested in more than 110 companies, protocols and crypto assets across the ecosystem. The portfolio includes such industry leaders as Coinbase, Kraken, Anchorage and OpenSea, as well as DeFi leaders Aave, Nexus Mutual and UMA. Source: Prnewswire.com
Wishing you a good day ahead, and always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
#Bitcoin moved in the range of 33300-28800 during the last 24hrs. The correction to 28K was quickly redeemed and Bitcoin bounced back and at the time of writing this review its trading at about 34,000 with a dominance index of 46.9% and Crypto Market Capitalization of $1.3 Trillion.
The stock market ended Tuesday trading with growth. The Dow Jones climbed 0.20%, the S&P 500 rose 0.51%, and the NASDAQ rose 0.79%. Gold is falling, oil has remained at the same level. The dollar index was down 0.17% to 91.727.
The alternative analysis worked out,(https://t.me/decryptedge/598) Bitcoin, having lost important support at 30K, continued to look for a new bottom, the minimum to which the price of 28805 was attained on Binance Exchange. Altcoins amicably followed Ethereum dropped to 1700 yesterday and today it returned above 2K. Talk about wild price swings.
Plan for today. If Bitcoin cannot return to the 34000-34500 levels, then most likely we will continue to decline, the key support is now at 30K, if we go even lower, we can return to 28K again and a dump to $24/22K. We have an active bearish trend in my biased opinion. Departure above 34K will open the way to 35000 and 36500.
To some news a new report from Bank of America says digital currencies can spur economic growth in developing countries. The BOA research study found that the rise of digital currencies could potentially “undermine a country’s physical currency,” however. Expanding on these findings, Hauner stated: Easier access to alternative digital currencies is also likely to increase the volatility of domestic money supply and the exchange rate. Easier access to alternatives also raises the risks of rapid shifts of liquidity out of (or into) the currency and the banks which can magnify macro volatility in already less stable countries. Higher macro volatility would then reduce the effectiveness of policies and undermine the long-term rate of growth. Despite these risks, Hauner suggests that more central banks are “likely to issue a general purpose CBDC in the next three years.” As previously reported by Bitcoin.com News, several countries — including a few in Africa — are currently at different stages of developing or piloting their digital currencies. Several more countries are likely to join the race as more studies show that digital currency benefits outweigh the risks.
PayPal and Visa have partnered with $ 300 million investment fund Blockchain Capital. Blockchain Capital, the first venture capital firm founded to focus exclusively on blockchain technology and the crypto ecosystem, announced the close of Blockchain Capital V, LP. The fund was heavily oversubscribed at its $300 million hard cap with participation from strategic investors, pension funds, major university endowments and family offices from around the world. Since its inception in 2013, Blockchain Capital has invested in more than 110 companies, protocols and crypto assets across the ecosystem. The portfolio includes such industry leaders as Coinbase, Kraken, Anchorage and OpenSea, as well as DeFi leaders Aave, Nexus Mutual and UMA. Source: Prnewswire.com
Wishing you a good day ahead, and always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
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#Israel Already Tested a Digital Shekel #Cryptocurrency, #Microstrategy Spends another $489 million on 13,005 #Bitcoin as #China Continues the Crypto Ban Drive. .Thoughts on the market 22. 06. 2021
#Bitcoin moved in the range of 35750-31150 during the last…
#Bitcoin moved in the range of 35750-31150 during the last…
John McAfee’s Mysterious Death: Murder or Suicide? #JPMorgan Survey: 49% of Institutional Investors Agree Cryptocurrency Is 'Rat Poison' as Warren Buffett Says or a Fad. Thoughts on the market 24. 06. 2021
#Bitcoin was moving in the range of $34880-31880 during the last 24hrs with attempts to gain a foothold above 34K and has not yet succeeded. We have since moved to a decline, after testing the lower border of the range at $31,683, it is now trading at about 32600 with a dominance index of 46.3%. Total Crypto Market Capitalization is at $1.3 Trillion.
The stock market finished trading on Wednesday in different directions. The Dow Jones fell 0.21%, the S&P 500 fell 0.11%, and the NASDAQ rose 0.13%. Gold is falling, oil is rising. The dollar index climbed 0.07% to 91.817.
As I wrote yesterday in the review, if we cannot gain a foothold above 34000-34500, then we will begin to decline, and that is what happened. Bitcoin first rose above 34K and even almost reached 35K (34881 on Binance), but could not hold on to these levels and began to fall. The fear-greed index is 22, and when there is general fear, only panicking and weak hands sell, the correct position in this case is to buy. This is what the big players are doing. Well defined entry and exit points.
Plan for today. If Bitcoin cannot overcome the resistance at 34K, then we can again go to 31 and even 30K, remember we have an active bearish trend. Leaving and fixing above 34K will give an opportunity to test the strength of 35K and above. The main support levels are 31800-30000K, and the resistance is 33800-34000.
John McAfee was found dead following an extradition order to the United States, presumably committing suicide. “Confirmation has come from our legal team in Spain that John was found dead in his jail cell,” said Nishay Sanan, McAfee’s lawyer in Chicago. “I am saddened to hear of the events and my prayers go out to his wife Janice.” “John was and will always be remembered as a fighter,” Sanan said. “He tried to love this country but the U.S. Government made his existence impossible. They tried to erase him but they failed.” McAfee made headlines in the crypto space and mainstream media for a July 2017 prediction that the price of Bitcoin would reach $500,000 by 2020. He went viral on Twitter after responding to another user, saying he would “eat his own dick” on national TV if his Bitcoin prediction was wrong. Fortunately for our eyes, John McAfee didn’t eat his own dick when he was wrong in 2020.
#Coinbase is approved to enter the Japanese cryptocurrency market to trade BTC, BCH, ETH, XLM, and LTC. As reported by news.bitcoin.com, (FSA), announced last week that it has registered #Coinbase as a crypto exchange service provider based on the revised Fund Settlement Act.
Lastly Investment bank #JPMorgan conducted a survey of 3,000 investors from 1,500 organizations and found that 49% of them believe that cryptocurrency is either "rat poison squared", the term used by CEO Warren Buffett to describe Bitcoin, or "temporary fad". The survey results also show that 42% of investors feel that cryptocurrency is here to stay and 9% even believe that it will become an important asset.
Always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
#Bitcoin was moving in the range of $34880-31880 during the last 24hrs with attempts to gain a foothold above 34K and has not yet succeeded. We have since moved to a decline, after testing the lower border of the range at $31,683, it is now trading at about 32600 with a dominance index of 46.3%. Total Crypto Market Capitalization is at $1.3 Trillion.
The stock market finished trading on Wednesday in different directions. The Dow Jones fell 0.21%, the S&P 500 fell 0.11%, and the NASDAQ rose 0.13%. Gold is falling, oil is rising. The dollar index climbed 0.07% to 91.817.
As I wrote yesterday in the review, if we cannot gain a foothold above 34000-34500, then we will begin to decline, and that is what happened. Bitcoin first rose above 34K and even almost reached 35K (34881 on Binance), but could not hold on to these levels and began to fall. The fear-greed index is 22, and when there is general fear, only panicking and weak hands sell, the correct position in this case is to buy. This is what the big players are doing. Well defined entry and exit points.
Plan for today. If Bitcoin cannot overcome the resistance at 34K, then we can again go to 31 and even 30K, remember we have an active bearish trend. Leaving and fixing above 34K will give an opportunity to test the strength of 35K and above. The main support levels are 31800-30000K, and the resistance is 33800-34000.
John McAfee was found dead following an extradition order to the United States, presumably committing suicide. “Confirmation has come from our legal team in Spain that John was found dead in his jail cell,” said Nishay Sanan, McAfee’s lawyer in Chicago. “I am saddened to hear of the events and my prayers go out to his wife Janice.” “John was and will always be remembered as a fighter,” Sanan said. “He tried to love this country but the U.S. Government made his existence impossible. They tried to erase him but they failed.” McAfee made headlines in the crypto space and mainstream media for a July 2017 prediction that the price of Bitcoin would reach $500,000 by 2020. He went viral on Twitter after responding to another user, saying he would “eat his own dick” on national TV if his Bitcoin prediction was wrong. Fortunately for our eyes, John McAfee didn’t eat his own dick when he was wrong in 2020.
#Coinbase is approved to enter the Japanese cryptocurrency market to trade BTC, BCH, ETH, XLM, and LTC. As reported by news.bitcoin.com, (FSA), announced last week that it has registered #Coinbase as a crypto exchange service provider based on the revised Fund Settlement Act.
Lastly Investment bank #JPMorgan conducted a survey of 3,000 investors from 1,500 organizations and found that 49% of them believe that cryptocurrency is either "rat poison squared", the term used by CEO Warren Buffett to describe Bitcoin, or "temporary fad". The survey results also show that 42% of investors feel that cryptocurrency is here to stay and 9% even believe that it will become an important asset.
Always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge