64 #Cryptocurrency Firms Have Withdrawn Applications to Operate in UK, #FCA Says as #Hydropower plants go on sale in #China amid mining crackdown and #Bitcoin Slump. Thoughts on the market 30. 06. 2021
Bitcoin moved in the range of 34200-36600 during the day. There were several attempts to gain a foothold above 36K, but did not succeed. As at the time of writing this review, #Bitcoin is trading around 35,100 with dominance index 46.2%. Total Crypto Market capitalization is $1.4 Trillion.
The stock market ended Tuesday trading with growth. The Dow Jones rose 0.03%, the S&P 500 rose 0.03%, and the NASDAQ rose 0.19%. Gold falls, oil continues to rise. The dollar index rose 0.19% to 92.047.
On the #cryptomarket, the option with fixing above 35K worked, the price even broke through the resistance zone at 36K and reached 36600 on Binance exchange from where a sell off began. Now we are trying to maintain at 35K. Altcoins reached mirrored Bitcoin growth with some showing growth of 20% or more. We continue to move in the same wide range, for growth we need a breakout and consolidation above 40K, then we can talk about the beginning of an upward movement.
Plan for today. If Bitcoin cannot overcome the resistance at 36000-36500, then again we will go to 35-34K. Growth and consolidation above 36K will give an opportunity to test the strength of 37000-38000.
In China, they began to sell small hydroelectric power plants against the backdrop of tough measures against miners. As reported by the South China Morning Post. The number of advertisements on Xianyu, a popular second-hand e-commerce platform, for small scale hydro plants with capacity of around 50 megawatts, has increased since the mining crackdown began in May. Some plants are in southwestern Sichuan province, an area in China with abundant water resources that can provide cheap electricity and where 26 bitcoin mining operations were ordered to shut down last week.
Lastly, a growing number of crypto firms in the U.K. are withdrawing their applications to register with the Financial Conduct Authority (FCA). Around 64 firms have already withdrawn their applications. Under the current crypto regulation, the Financial Conduct Authority (FCA) is responsible for ensuring crypto companies’ compliance with laws on the prevention of money laundering and terrorist financing. Companies wanting to provide crypto-related services in the U.K. must register with the FCA before conducting business. Source news.bitcoin.com
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 34200-36600 during the day. There were several attempts to gain a foothold above 36K, but did not succeed. As at the time of writing this review, #Bitcoin is trading around 35,100 with dominance index 46.2%. Total Crypto Market capitalization is $1.4 Trillion.
The stock market ended Tuesday trading with growth. The Dow Jones rose 0.03%, the S&P 500 rose 0.03%, and the NASDAQ rose 0.19%. Gold falls, oil continues to rise. The dollar index rose 0.19% to 92.047.
On the #cryptomarket, the option with fixing above 35K worked, the price even broke through the resistance zone at 36K and reached 36600 on Binance exchange from where a sell off began. Now we are trying to maintain at 35K. Altcoins reached mirrored Bitcoin growth with some showing growth of 20% or more. We continue to move in the same wide range, for growth we need a breakout and consolidation above 40K, then we can talk about the beginning of an upward movement.
Plan for today. If Bitcoin cannot overcome the resistance at 36000-36500, then again we will go to 35-34K. Growth and consolidation above 36K will give an opportunity to test the strength of 37000-38000.
In China, they began to sell small hydroelectric power plants against the backdrop of tough measures against miners. As reported by the South China Morning Post. The number of advertisements on Xianyu, a popular second-hand e-commerce platform, for small scale hydro plants with capacity of around 50 megawatts, has increased since the mining crackdown began in May. Some plants are in southwestern Sichuan province, an area in China with abundant water resources that can provide cheap electricity and where 26 bitcoin mining operations were ordered to shut down last week.
Lastly, a growing number of crypto firms in the U.K. are withdrawing their applications to register with the Financial Conduct Authority (FCA). Around 64 firms have already withdrawn their applications. Under the current crypto regulation, the Financial Conduct Authority (FCA) is responsible for ensuring crypto companies’ compliance with laws on the prevention of money laundering and terrorist financing. Companies wanting to provide crypto-related services in the U.K. must register with the FCA before conducting business. Source news.bitcoin.com
Always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
$6 Billion #NCR Opens #Bitcoin Purchases To 650 #Banks And Credit Unions. Thoughts on the Crypto Market 01. 07. 2021.
#Bitcoin yesterday could not hold 35K and moved to a decline to the price of 34017 on #Binance exchange where it is currently being traded. Total Crypto Market capitalization is at $1.4 Trillion and BTC dominance index of 45.4%.
The stock market finished trading on Wednesday in different directions. The Dow Jones climbed 0.61%, the S&P 500 rose 0.21%, and the NASDAQ lost 0.17%. The volatility index fell 1.19% to 15.83. Gold and oil are growing. The dollar index rose 0.34% to 92.350
With Bitcoin being unable to overcome the resistance and gain a foothold above 36K, it went down, reaching the designated level of 34K. We pushed off and moved on to growth, but couldn't hold due to a sell off again . We are now trying to stay at 34K. Altcoins have returned to life, some are showing growth even against the backdrop of Bitcoin correction.
Plan for today. If Bitcoin cannot overcome the resistance at 35200-35500, then again we will go to 34K and even 32K. Let me remind you as we are on an active down trend. Growth and consolidation above 35K will make it possible to retest 36000-36500.
650 U.S. banks will soon be able to offer bitcoin purchases to an estimated 24 million total customers. As part of the deal between enterprise payments giant NCR and digital-asset management firm NYDIG, community banks, including North Carolina-based First Citizens Bank, and credit unions, including Bay Federal Credit Union in California, will be able to offer their clients cryptocurrency trading through mobile applications built by the payments provider. As reported by forbes.com
Instead of having to deal with the burdensome regulatory requirements related to actually holding the cryptocurrency for their customers, the financial institutions that opt to make the service available will rely on Nydig’s custody services. The effort is the latest by Atlanta-based NCR to capitalize on demand it’s seeing from banks and credit unions tired of seeing crypto purchases made from their accounts to outside exchanges. By providing these clients a way to buy bitcoin—and eventually spend it—within their existing accounts, the traditional financial institutions are part of a rising tide of those companies in direct competition with cryptocurrency exchanges. “We're firm believers in the benefits of crypto and the strategic application,” says NCR president of digital banking Douglas Brown. “And that's true for our banking relationships, as evidenced by Nydig, and across retailers as well as restaurants and the like.”
NCR Corporation is a leader in omni-channel solutions, with its software, hardware, and portfolio of services, enabling nearly 700 million transactions daily across the financial, retail, hospitality, travel, telecom and technology industries globally. I am certain you may have seen the logo on your ATM. One of the photos is a tweet from @Coopbankenya shows NCR Cassette Engineer Samuel Kimotho Irungu and Service Manager Coop House Branch Justina Musyimi testing ATM cassettes for the dispense of new currency notes across ATMs countrywide back in June 2019.
As always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
#Bitcoin yesterday could not hold 35K and moved to a decline to the price of 34017 on #Binance exchange where it is currently being traded. Total Crypto Market capitalization is at $1.4 Trillion and BTC dominance index of 45.4%.
The stock market finished trading on Wednesday in different directions. The Dow Jones climbed 0.61%, the S&P 500 rose 0.21%, and the NASDAQ lost 0.17%. The volatility index fell 1.19% to 15.83. Gold and oil are growing. The dollar index rose 0.34% to 92.350
With Bitcoin being unable to overcome the resistance and gain a foothold above 36K, it went down, reaching the designated level of 34K. We pushed off and moved on to growth, but couldn't hold due to a sell off again . We are now trying to stay at 34K. Altcoins have returned to life, some are showing growth even against the backdrop of Bitcoin correction.
Plan for today. If Bitcoin cannot overcome the resistance at 35200-35500, then again we will go to 34K and even 32K. Let me remind you as we are on an active down trend. Growth and consolidation above 35K will make it possible to retest 36000-36500.
650 U.S. banks will soon be able to offer bitcoin purchases to an estimated 24 million total customers. As part of the deal between enterprise payments giant NCR and digital-asset management firm NYDIG, community banks, including North Carolina-based First Citizens Bank, and credit unions, including Bay Federal Credit Union in California, will be able to offer their clients cryptocurrency trading through mobile applications built by the payments provider. As reported by forbes.com
Instead of having to deal with the burdensome regulatory requirements related to actually holding the cryptocurrency for their customers, the financial institutions that opt to make the service available will rely on Nydig’s custody services. The effort is the latest by Atlanta-based NCR to capitalize on demand it’s seeing from banks and credit unions tired of seeing crypto purchases made from their accounts to outside exchanges. By providing these clients a way to buy bitcoin—and eventually spend it—within their existing accounts, the traditional financial institutions are part of a rising tide of those companies in direct competition with cryptocurrency exchanges. “We're firm believers in the benefits of crypto and the strategic application,” says NCR president of digital banking Douglas Brown. “And that's true for our banking relationships, as evidenced by Nydig, and across retailers as well as restaurants and the like.”
NCR Corporation is a leader in omni-channel solutions, with its software, hardware, and portfolio of services, enabling nearly 700 million transactions daily across the financial, retail, hospitality, travel, telecom and technology industries globally. I am certain you may have seen the logo on your ATM. One of the photos is a tweet from @Coopbankenya shows NCR Cassette Engineer Samuel Kimotho Irungu and Service Manager Coop House Branch Justina Musyimi testing ATM cassettes for the dispense of new currency notes across ATMs countrywide back in June 2019.
As always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
#Billioniare #Shutterstock Founder Jon Oringer Bought the Latest #Bitcoin Dip as Top U.S. diplomat hopes El Salvador, #IMF will settle #bitcoin row. Thoughts on the market 2.07.2021
Bitcoin yesterday lost support at 34K and went down, to a low price of 32711 on Binance and at the time of writing, Bitcoin is trading at around 33K with a dominance index of 45.6% and total CryptoMarket Capitalization of $1.36Trillion.
The stock market ended Thursday trading with growth. The Dow Jones rose 0.38%, the S&P 500 rose 0.52%, and the NASDAQ rose 0.13%. Gold Futures for August delivery was up 0.29% to 1.776.75 a troy ounce. The dollar index rose 0.15% to 92.567.
We continue to fall on the crypto market. Active down trend and as mentioned in the review yesterday, if we cannot gain a foothold above 35K, then we will begin to decline, and so it happened. We continue to move in the same wide range, for growth we need a breakout and consolidation above 36-38K.
Now the main thing is to remain calm, not to panic and in no case not to sell, let them weak hands sell at this price. FYI: Consider 25-20K to be the bottom. Until you sell Bitcoin cheaper than you bought it, you have no loss, now you just need to wait or buy - this is the best time, which you should definitely take advantage of.
Plan for today. If we cannot return above 34000, or better 34500, then we can continue moving down to 32000 and 30,000. Leaving and consolidating above 34000-34500 will open the way to 35000-36500.
Lastly to some news, the US has warned El Salvador about the need to "effectively regulate" bitcoin. US Undersecretary of State for Political Affairs Victoria Nuland discussed the law passed by El Salvador to recognize bitcoin as legal tender with President Nayyib Bukele. During her visit to the Latin American country, Nuland noted the need for clear rules for the cryptocurrency. “As I suggested to the president, no matter what choice El Salvador makes, it is necessary to ensure that it is effectively regulated, transparent, accountable, and you protect yourself from intruders,” the diplomat said at a press conference.
Shutterstock CEO John Oringer has invested in Bitcoin. In an interview with Bloomberg, Oringer, who moved to Miami last fall, which is working on becoming a crypto hub of the world, actually “bought some of the dip” that recently saw bitcoin price experiencing a drawdown of more than 50% and Ether over 66%. “I think this is an interesting time for cryptocurrencies (and) these instruments are here to stay. As people and businesses start to figure out how to build infrastructure on top of blockchain, that's where it really becomes interesting.” Source.
Wishing you a great weekend. Tomorrow is our Bitcoin101 with the topic: Is #Cyptocurrency a Good Investment? As always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
Bitcoin yesterday lost support at 34K and went down, to a low price of 32711 on Binance and at the time of writing, Bitcoin is trading at around 33K with a dominance index of 45.6% and total CryptoMarket Capitalization of $1.36Trillion.
The stock market ended Thursday trading with growth. The Dow Jones rose 0.38%, the S&P 500 rose 0.52%, and the NASDAQ rose 0.13%. Gold Futures for August delivery was up 0.29% to 1.776.75 a troy ounce. The dollar index rose 0.15% to 92.567.
We continue to fall on the crypto market. Active down trend and as mentioned in the review yesterday, if we cannot gain a foothold above 35K, then we will begin to decline, and so it happened. We continue to move in the same wide range, for growth we need a breakout and consolidation above 36-38K.
Now the main thing is to remain calm, not to panic and in no case not to sell, let them weak hands sell at this price. FYI: Consider 25-20K to be the bottom. Until you sell Bitcoin cheaper than you bought it, you have no loss, now you just need to wait or buy - this is the best time, which you should definitely take advantage of.
Plan for today. If we cannot return above 34000, or better 34500, then we can continue moving down to 32000 and 30,000. Leaving and consolidating above 34000-34500 will open the way to 35000-36500.
Lastly to some news, the US has warned El Salvador about the need to "effectively regulate" bitcoin. US Undersecretary of State for Political Affairs Victoria Nuland discussed the law passed by El Salvador to recognize bitcoin as legal tender with President Nayyib Bukele. During her visit to the Latin American country, Nuland noted the need for clear rules for the cryptocurrency. “As I suggested to the president, no matter what choice El Salvador makes, it is necessary to ensure that it is effectively regulated, transparent, accountable, and you protect yourself from intruders,” the diplomat said at a press conference.
Shutterstock CEO John Oringer has invested in Bitcoin. In an interview with Bloomberg, Oringer, who moved to Miami last fall, which is working on becoming a crypto hub of the world, actually “bought some of the dip” that recently saw bitcoin price experiencing a drawdown of more than 50% and Ether over 66%. “I think this is an interesting time for cryptocurrencies (and) these instruments are here to stay. As people and businesses start to figure out how to build infrastructure on top of blockchain, that's where it really becomes interesting.” Source.
Wishing you a great weekend. Tomorrow is our Bitcoin101 with the topic: Is #Cyptocurrency a Good Investment? As always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
Good morning ....
*DECRYPT EDGE CONSULTANTS* is inviting you to a scheduled Zoom meeting.
Topic: *DIGITIZATION SHIFT .... WHERE ARE YOU?*
Time: *Jul 3, 2021 09:55 AM Nairobi*
BITCOIN101* - Let's learn about...
*- _Is Cryptocurrency a Good Investment?_.*
*- Crypto-Markets news and this week updates.*
*- Open Q & A session*
Join Zoom Meeting
https://us02web.zoom.us/j/82936972805?pwd=enF4bVlLbDBjdWh3N0l6aEpCVDlQZz09
Meeting ID: 829 3697 2805
Passcode: BITCOIN101
*DECRYPT EDGE CONSULTANTS* is inviting you to a scheduled Zoom meeting.
Topic: *DIGITIZATION SHIFT .... WHERE ARE YOU?*
Time: *Jul 3, 2021 09:55 AM Nairobi*
BITCOIN101* - Let's learn about...
*- _Is Cryptocurrency a Good Investment?_.*
*- Crypto-Markets news and this week updates.*
*- Open Q & A session*
Join Zoom Meeting
https://us02web.zoom.us/j/82936972805?pwd=enF4bVlLbDBjdWh3N0l6aEpCVDlQZz09
Meeting ID: 829 3697 2805
Passcode: BITCOIN101
#Digitization of #Money is an “Inevitable Trend” Vietnamese PM claims. Thoughts on the Market 05.07. 2021
#Bitcoin moved in the range of 34360-35970 over the weekend. There was one attempt to break through the resistance at 36K, but it did not happen and at the time of writing the review, it’s trading around 34,250 and BTC dominance index of 44.9%. Total Crypto Market capitalization stands at $1.43 Trillion.
Stock markets opened in different directions. At the moment, futures for the S&P 500 are in a slight minus, Asian indices also show multidirectional dynamics, gold and silver are growing.
Everything was fine on the crypto market over the weekend. It was able to overcome the resistance at 35K and went further, but the strength at 36K was not enough and a sell off began from this level, now we are trying to hold on to 34K. Altcoins have shown steady growth, and now they are holding up quite well. The dominance index continues to fall, which means that altcoins will continue to shoot up.
Plan for today. If we cannot stay above 34K, then we can go back to 32-31K, leaving and fixing above 35K will give an opportunity for growth by 36-37K. Major resistance levels are 35-36K and support at 34-32K.
Lastly to some news, Vietnam gives the green light to cryptocurrency. According to a July 4 report by The Phnom Penh Post, Vietnamese Prime Minister Pham Minh Chin has asked the country's central bank to try out the blockchain-based cryptocurrency over the next two years. The initiative is part of the PM’s e-Government development strategy. Chinh—the 62-year-old leader of the country’s leading Communist Party—believes that digital money is “an inevitable trend.” Apart from crypto, Vietnam will also focus on implementing such cutting-edge technologies as big data, artificial intelligence, and augmented reality. Vietnam imposed a ban on Bitcoin payments all the way back in 2017. Source: Utoday.
As 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 34360-35970 over the weekend. There was one attempt to break through the resistance at 36K, but it did not happen and at the time of writing the review, it’s trading around 34,250 and BTC dominance index of 44.9%. Total Crypto Market capitalization stands at $1.43 Trillion.
Stock markets opened in different directions. At the moment, futures for the S&P 500 are in a slight minus, Asian indices also show multidirectional dynamics, gold and silver are growing.
Everything was fine on the crypto market over the weekend. It was able to overcome the resistance at 35K and went further, but the strength at 36K was not enough and a sell off began from this level, now we are trying to hold on to 34K. Altcoins have shown steady growth, and now they are holding up quite well. The dominance index continues to fall, which means that altcoins will continue to shoot up.
Plan for today. If we cannot stay above 34K, then we can go back to 32-31K, leaving and fixing above 35K will give an opportunity for growth by 36-37K. Major resistance levels are 35-36K and support at 34-32K.
Lastly to some news, Vietnam gives the green light to cryptocurrency. According to a July 4 report by The Phnom Penh Post, Vietnamese Prime Minister Pham Minh Chin has asked the country's central bank to try out the blockchain-based cryptocurrency over the next two years. The initiative is part of the PM’s e-Government development strategy. Chinh—the 62-year-old leader of the country’s leading Communist Party—believes that digital money is “an inevitable trend.” Apart from crypto, Vietnam will also focus on implementing such cutting-edge technologies as big data, artificial intelligence, and augmented reality. Vietnam imposed a ban on Bitcoin payments all the way back in 2017. Source: Utoday.
As always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
UK Bank Barclays Blocks Payments to #Binance as Ransomware Group REvil Strikes Again, Demands $70M in Bitcoin From 200 US Firms. Thoughts on the market 06.07.2021
Yesterday, Bitcoin lost support at 34K and moved to a decline to a low price of 33125 on #Binance exchange. At the time of writing the review we are trading at 34500 with BTC dominance index of 44.7% and a total crypto market capitalization of $1.44 Trillion.
The stock market ended Monday trading with growth. The Dow Jones rose 0.44%, the S&P 500 rose 0.75%, and the NASDAQ rose 0.81%. Gold and silver continue to rise. The dollar index dropped 0.30% to 92.138.
On the crypto market, we continue to move in the same wide range, for growth we need a breakout and consolidation above 36K, then we can talk about a move to 40K and above. Until then, we have to write the same thing. The plan for today is the same as yesterday. If we cannot stay above 34K, then we can again go to 33-32K, leaving and fixing above 35K will give an opportunity for growth by 36-37K. We just have to wait.
Ransomware Group REvil Strikes Again, Demands $70M in Bitcoin From 200 US Firms. The Russian-based ransomware group is now demanding bitcoin in exchange for a decrypter for the infected machines. "On Friday we launched an attack on [managed service providers]," a post from the dark web site Happy Blog reads. "More than a million systems were infected." In May, REvil attacked Colonial Pipeline and managed to get the company to pay a $5 million ransom after its functionality and services were restricted, sparking a gas crisis in the U.S. JBS Holdings, the world’s largest meat company by sales, also paid an $11 million ransom in a May 30 attack against it by the same group. Source Coindesk.
Lastly, U.K. bank Barclays said Monday it is blocking customers from using their debit and credit cards to make payments to crypto exchange Binance. "With effect from today, Barclays intends to stop credit and debit card payments to Binance," Barclays said in an email to CoinDesk. "This action does not impact on the ability for customers to withdraw funds from Binance." The bank has been contacting customers who have used their cards on Binance this year advising them that it is stopping payments until further notice, according to tweets. The decision follows shortly after the U.K’s Financial Conduct Authority (FCA) announced that Binance was not allowed to conduct any regulated activities in the country. Responding via the official and verified twitter account: @BarclaysUKHelp wrote “Hi there. It’s our responsibility to help protect your money. With this in mind we’ve taken the decision to stop payments made by credit/debit card to #Binance until further notice, to help keep your money safe. We're sorry for any disruption this may cause.”
As always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge.
Yesterday, Bitcoin lost support at 34K and moved to a decline to a low price of 33125 on #Binance exchange. At the time of writing the review we are trading at 34500 with BTC dominance index of 44.7% and a total crypto market capitalization of $1.44 Trillion.
The stock market ended Monday trading with growth. The Dow Jones rose 0.44%, the S&P 500 rose 0.75%, and the NASDAQ rose 0.81%. Gold and silver continue to rise. The dollar index dropped 0.30% to 92.138.
On the crypto market, we continue to move in the same wide range, for growth we need a breakout and consolidation above 36K, then we can talk about a move to 40K and above. Until then, we have to write the same thing. The plan for today is the same as yesterday. If we cannot stay above 34K, then we can again go to 33-32K, leaving and fixing above 35K will give an opportunity for growth by 36-37K. We just have to wait.
Ransomware Group REvil Strikes Again, Demands $70M in Bitcoin From 200 US Firms. The Russian-based ransomware group is now demanding bitcoin in exchange for a decrypter for the infected machines. "On Friday we launched an attack on [managed service providers]," a post from the dark web site Happy Blog reads. "More than a million systems were infected." In May, REvil attacked Colonial Pipeline and managed to get the company to pay a $5 million ransom after its functionality and services were restricted, sparking a gas crisis in the U.S. JBS Holdings, the world’s largest meat company by sales, also paid an $11 million ransom in a May 30 attack against it by the same group. Source Coindesk.
Lastly, U.K. bank Barclays said Monday it is blocking customers from using their debit and credit cards to make payments to crypto exchange Binance. "With effect from today, Barclays intends to stop credit and debit card payments to Binance," Barclays said in an email to CoinDesk. "This action does not impact on the ability for customers to withdraw funds from Binance." The bank has been contacting customers who have used their cards on Binance this year advising them that it is stopping payments until further notice, according to tweets. The decision follows shortly after the U.K’s Financial Conduct Authority (FCA) announced that Binance was not allowed to conduct any regulated activities in the country. Responding via the official and verified twitter account: @BarclaysUKHelp wrote “Hi there. It’s our responsibility to help protect your money. With this in mind we’ve taken the decision to stop payments made by credit/debit card to #Binance until further notice, to help keep your money safe. We're sorry for any disruption this may cause.”
As always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge.
#China’s war on #Bitcoin just Hit a New Level With its Latest Crypto Crackdown & Binance Suspends Euro Deposits Via Bank Transfers Amid Regulatory Scrutiny.
Thoughts on the market 07. 07. 2021
Bitcoin moved in the range of 35120-33520 during the day, it's more of a consolidation really. Corrections to 33K were quickly redeemed and Bitcoin moved to growth, at the time of writing the review, it is trading at around 34,750 with a dominance index of 45.2%. Total Crypto Market capitalization stands at $1.43 Trillion.
The stock market finished trading on Tuesday in different directions. The Dow Jones fell 0.60%, the S&P 500 fell 0.20%, and the NASDAQ rose 0.17%. Gold Futures for August delivery was up 0.77% to 1.797.05 a troy ounce. The USD Index was up 0.14% to 92.543.
Everything was fine on the crypto market, Bitcoin was able to stay above 34K and even broke through the resistance at 35K and daily high attained on Binance. #China came out later with another ban that triggered a sell off, which drove the price to 33532, details on the news. For now, we have returned 34K and will soon be testing 35K for strength, so we continue to move in the same range.
Plan for today. If Bitcoin cannot overcome the resistance at 35K, then we can again go to 33 and even 32K, leaving and fixing above 35K will give an opportunity to test the levels 36000-36500.
The People's Bank of China (PBOC) has reaffirmed its anti-cryptocurrency stance and shut down a local virtual currency software company. Regulators also warned that organizations in China are prohibited from supporting activities related to digital assets, and financial institutions from conducting transactions with them. As reported by markets.businessinsider.com Beijing Qudao Cultural Development closed its doors on the orders of a Beijing office of China's central bank, which said the company had facilitated crypto transactions via the software services it offered. The People's Bank of China said in a statement that it took the action "to prevent and control the risk of speculation in virtual currency transactions, and protect the safety of the public's assets," the report said. The central bank office also warned that companies in Beijing are not permitted to encourage crypto trading in any way. In particular, it noted they are banned from providing physical trading venues and crypto-related services, and from promoting cryptocurrencies through commercial displays or advertisements.
Lastly, Binance has suspended euro deposits through the Single Euro Payments Area (SEPA) due to events that are “outside” of its control, according to an email sent to its customers. As reported by UTODAY, Due to events beyond our control, we are temporarily suspending EUR deposits via SEPA Bank Transfers from 8 am UTC on July 7, 2021. Binance claims that it’s working with its partners to resolve the problem. Customers will still be able to make euro deposits to the cryptocurrency exchange via credit cards and debit cards. The suspension of bank transfers comes amid increasing regulatory scrutiny faced by Binance from regulators around the world. Yesterday (https://t.me/decryptedge/620 ) Barclays banned cardholders from conducting payments to the exchange.
With this string of FUD, and the active downward trend it's more fuel and validation for our 25-20K to be the bottom price of BTC(https://t.me/decryptedge/615)
As always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
Thoughts on the market 07. 07. 2021
Bitcoin moved in the range of 35120-33520 during the day, it's more of a consolidation really. Corrections to 33K were quickly redeemed and Bitcoin moved to growth, at the time of writing the review, it is trading at around 34,750 with a dominance index of 45.2%. Total Crypto Market capitalization stands at $1.43 Trillion.
The stock market finished trading on Tuesday in different directions. The Dow Jones fell 0.60%, the S&P 500 fell 0.20%, and the NASDAQ rose 0.17%. Gold Futures for August delivery was up 0.77% to 1.797.05 a troy ounce. The USD Index was up 0.14% to 92.543.
Everything was fine on the crypto market, Bitcoin was able to stay above 34K and even broke through the resistance at 35K and daily high attained on Binance. #China came out later with another ban that triggered a sell off, which drove the price to 33532, details on the news. For now, we have returned 34K and will soon be testing 35K for strength, so we continue to move in the same range.
Plan for today. If Bitcoin cannot overcome the resistance at 35K, then we can again go to 33 and even 32K, leaving and fixing above 35K will give an opportunity to test the levels 36000-36500.
The People's Bank of China (PBOC) has reaffirmed its anti-cryptocurrency stance and shut down a local virtual currency software company. Regulators also warned that organizations in China are prohibited from supporting activities related to digital assets, and financial institutions from conducting transactions with them. As reported by markets.businessinsider.com Beijing Qudao Cultural Development closed its doors on the orders of a Beijing office of China's central bank, which said the company had facilitated crypto transactions via the software services it offered. The People's Bank of China said in a statement that it took the action "to prevent and control the risk of speculation in virtual currency transactions, and protect the safety of the public's assets," the report said. The central bank office also warned that companies in Beijing are not permitted to encourage crypto trading in any way. In particular, it noted they are banned from providing physical trading venues and crypto-related services, and from promoting cryptocurrencies through commercial displays or advertisements.
Lastly, Binance has suspended euro deposits through the Single Euro Payments Area (SEPA) due to events that are “outside” of its control, according to an email sent to its customers. As reported by UTODAY, Due to events beyond our control, we are temporarily suspending EUR deposits via SEPA Bank Transfers from 8 am UTC on July 7, 2021. Binance claims that it’s working with its partners to resolve the problem. Customers will still be able to make euro deposits to the cryptocurrency exchange via credit cards and debit cards. The suspension of bank transfers comes amid increasing regulatory scrutiny faced by Binance from regulators around the world. Yesterday (https://t.me/decryptedge/620 ) Barclays banned cardholders from conducting payments to the exchange.
With this string of FUD, and the active downward trend it's more fuel and validation for our 25-20K to be the bottom price of BTC(https://t.me/decryptedge/615)
As always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
Telegram
KryptoEdge
UK Bank Barclays Blocks Payments to #Binance as Ransomware Group REvil Strikes Again, Demands $70M in Bitcoin From 200 US Firms. Thoughts on the market 06.07.2021
Yesterday, Bitcoin lost support at 34K and moved to a decline to a low price of 33125 on #Binance…
Yesterday, Bitcoin lost support at 34K and moved to a decline to a low price of 33125 on #Binance…
#Visa Reports over $1 billion in #Crypto Spending in H1 2021 and #Israel Creates 1st Ever Parliamentary #NFT for New President Isaac Herzog. Thoughts on the market 08. 07. 2021
#Bitcoin yesterday tried to gain a foothold above 35K, but did not succeed and instead moved to a decline finding base at 33066. As at the time of writing, Bitcoin is trading at 33,250 with a dominance index of 44.2% and total crypto market capitalization of $1.4 Trillion.
The stock market ended Wednesday trading with growth. The Dow Jones rose 0.30%, the S&P 500 rose 0.34%, and the NASDAQ rose 0.01%. The dollar index rose 0.18% to 92.707. Gold and silver dipped slightly.
The old story continues on the cryptomarket, the movement is still in the same range. Today I caught myself thinking that reviews on such a market can be released once a week because you have to write the same thing. But as seasons change, come and go for the last 1 billion years, this period of Bitcoin compression shall not be forever, and after the accumulation phase. The continuation of the growth phase awaits us eventually with and after some shade off.
Plan for today. If Bitcoin cannot overcome the resistance at 34K, then we can go back to 32K and below, leaving and fixing above 34K will give an opportunity to test the level at 35K and above.
In an official statement on Wednesday, Visa said that in the first half of 2021, the volume of card transactions added more than $ 1 billion. As reported by cointelegraph, Payment giant Visa will continue connecting the crypto economy to its “network of networks” to support the broader digital transformation of financial services. The company noted that Visa is partnering with 50 major companies in the crypto industry as well as crypto card programs enabling users to convert and spend digital currency at 70 million merchants worldwide. Visa made a major move into the crypto industry last year, partnering with Goldman Sachs-backed blockchain company Circle in order to make its USD Coin (USDC) stablecoin compatible with certain credit cards. The company has since reaffirmed its commitment to crypto payments and fiat on-ramps, as well as its particular focus on stablecoin-based integrations.
Lastly, Israeli President Yitzhak Herzog was sworn in by the NFT. Shortly before his inauguration on Wednesday, the Duke received a one-of-a-kind NFT with a copy of the original oath signed by his late father, sixth Israelite Chaim Herzog. The Knesset on Wednesday joined the international trend of creating an NFT – a non-fungible token, or unique digital information package – for new President Isaac Herzog, in honor of his swearing-in. The technology used by the Knesset is a special type of cryptographic protocol, which represents a unique digital asset. Unlike currencies such as Bitcoin and other tokens, an NFT is, by definition, non-fungible and unique. In recent months, NFTs have become one of the biggest sensations in the art world; artist Mike Winkelmann recently sold an NFT for a record price of $69.3 million, the third-highest price ever for a work by a living artist. Although creating the file cost several hundred shekels, the worldwide success of NFTs could boost its value to millions of dollars. Source jpost.com
As I wish you a good day ahead, remember you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge.
#Bitcoin yesterday tried to gain a foothold above 35K, but did not succeed and instead moved to a decline finding base at 33066. As at the time of writing, Bitcoin is trading at 33,250 with a dominance index of 44.2% and total crypto market capitalization of $1.4 Trillion.
The stock market ended Wednesday trading with growth. The Dow Jones rose 0.30%, the S&P 500 rose 0.34%, and the NASDAQ rose 0.01%. The dollar index rose 0.18% to 92.707. Gold and silver dipped slightly.
The old story continues on the cryptomarket, the movement is still in the same range. Today I caught myself thinking that reviews on such a market can be released once a week because you have to write the same thing. But as seasons change, come and go for the last 1 billion years, this period of Bitcoin compression shall not be forever, and after the accumulation phase. The continuation of the growth phase awaits us eventually with and after some shade off.
Plan for today. If Bitcoin cannot overcome the resistance at 34K, then we can go back to 32K and below, leaving and fixing above 34K will give an opportunity to test the level at 35K and above.
In an official statement on Wednesday, Visa said that in the first half of 2021, the volume of card transactions added more than $ 1 billion. As reported by cointelegraph, Payment giant Visa will continue connecting the crypto economy to its “network of networks” to support the broader digital transformation of financial services. The company noted that Visa is partnering with 50 major companies in the crypto industry as well as crypto card programs enabling users to convert and spend digital currency at 70 million merchants worldwide. Visa made a major move into the crypto industry last year, partnering with Goldman Sachs-backed blockchain company Circle in order to make its USD Coin (USDC) stablecoin compatible with certain credit cards. The company has since reaffirmed its commitment to crypto payments and fiat on-ramps, as well as its particular focus on stablecoin-based integrations.
Lastly, Israeli President Yitzhak Herzog was sworn in by the NFT. Shortly before his inauguration on Wednesday, the Duke received a one-of-a-kind NFT with a copy of the original oath signed by his late father, sixth Israelite Chaim Herzog. The Knesset on Wednesday joined the international trend of creating an NFT – a non-fungible token, or unique digital information package – for new President Isaac Herzog, in honor of his swearing-in. The technology used by the Knesset is a special type of cryptographic protocol, which represents a unique digital asset. Unlike currencies such as Bitcoin and other tokens, an NFT is, by definition, non-fungible and unique. In recent months, NFTs have become one of the biggest sensations in the art world; artist Mike Winkelmann recently sold an NFT for a record price of $69.3 million, the third-highest price ever for a work by a living artist. Although creating the file cost several hundred shekels, the worldwide success of NFTs could boost its value to millions of dollars. Source jpost.com
As I wish you a good day ahead, remember you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge.
People’s #Bank of #China Warns: #Stablecoins Impose Risks to the International Monetary System as #EU Mulls #AML Authority and New Rules for #Crypto Transfers, Documents Suggest. Thoughts on the market 09. 01. 2021
Bitcoin lost support at 33K during the day, after which it went down, reaching a low of 32077 on the Binance Exchange. This correction was redeemed and the price is now back to about 33K where it is currently being traded. Total Crypto Market capitalization of $1.3 Trillion and BTC dominance index of 44.9%.
The stock market ended Thursday trading with a fall. The Dow Jones fell 0.75%, the S&P 500 lost 0.86%, and the NASDAQ fell 0.72%. The dollar index dropped 0.29% to 92.373. Gold and oil rose slightly.
With another negative on the crypto market coming from China again, Bitcoin could not gain a foothold above 34K and moved to a decline, having reached almost 32K, we pushed off and moved on to growth, now we are trying to gain a foothold above 33K. Altcoins followed suit with some losing 10 to 15%.
The drain was triggered by #FUD over another ban in China. At first, the Central Bank of China called bitcoin and stablecoins speculative instruments that threaten financial security and social stability. It was then followed by news about the blocking of #Binance exchange website. You now need to use a VPN to access their services.
Lest we forget since 2017 China has been scaring everyone with cryptocurrency bans. Notably and ironically, everything continues to work and each time there is a new FUD, it has less and less influence on the market. Miners are already deploying their farms in other countries where they will pay taxes, and the exchanges can also be accessed via VPN. In any case, only China will lose from these bans. In a recent interview, the ex-Chairman of Shanghai Bank and a current deputy governor of the People’s Bank of China – Fan Yifei – opined that stablecoins may harm the global financial stability and the present payment system: “Some commercial organizations’ so-called stablecoins, especially global stablecoins, may bring risks and challenges to the international monetary system, and payments and settlement system, etc.”
The top banker added that China’s central bank is “quite worried about this issue” as he asserted that the institution has taken measures in that direction. Yifei continued with his bashing comments and referred to these digital currencies as “speculation tools,” which have the potential to endanger financial and social security.
Plan for today. If Bitcoin cannot overcome the resistance at 33000-33500, then we can again go to 32-31K. Growth and consolidation above 33K will open the way for 34 and above.
Lastly, the EU will create a new money laundering regulator and stricter cryptocurrency reporting requirements. According to documents seen by Reuters, the agency should become the “centrepiece” of an integrated supervisory system consisting also of national authorities. In the absence of a pan-European anti-money laundering body, the executive power in Brussels has so far relied mainly on national regulatory agencies to enforce its AML rules. Cooperation hasn’t always been satisfactory when it comes to stopping dirty money, the report notes. That’s why the authors of the documents insist: Money laundering, terrorist financing and organised crime remain significant problems which should be addressed at Union level.
Wishing you a great upcoming weekend. Tomorrow is our Bitcoin101. As always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
Bitcoin lost support at 33K during the day, after which it went down, reaching a low of 32077 on the Binance Exchange. This correction was redeemed and the price is now back to about 33K where it is currently being traded. Total Crypto Market capitalization of $1.3 Trillion and BTC dominance index of 44.9%.
The stock market ended Thursday trading with a fall. The Dow Jones fell 0.75%, the S&P 500 lost 0.86%, and the NASDAQ fell 0.72%. The dollar index dropped 0.29% to 92.373. Gold and oil rose slightly.
With another negative on the crypto market coming from China again, Bitcoin could not gain a foothold above 34K and moved to a decline, having reached almost 32K, we pushed off and moved on to growth, now we are trying to gain a foothold above 33K. Altcoins followed suit with some losing 10 to 15%.
The drain was triggered by #FUD over another ban in China. At first, the Central Bank of China called bitcoin and stablecoins speculative instruments that threaten financial security and social stability. It was then followed by news about the blocking of #Binance exchange website. You now need to use a VPN to access their services.
Lest we forget since 2017 China has been scaring everyone with cryptocurrency bans. Notably and ironically, everything continues to work and each time there is a new FUD, it has less and less influence on the market. Miners are already deploying their farms in other countries where they will pay taxes, and the exchanges can also be accessed via VPN. In any case, only China will lose from these bans. In a recent interview, the ex-Chairman of Shanghai Bank and a current deputy governor of the People’s Bank of China – Fan Yifei – opined that stablecoins may harm the global financial stability and the present payment system: “Some commercial organizations’ so-called stablecoins, especially global stablecoins, may bring risks and challenges to the international monetary system, and payments and settlement system, etc.”
The top banker added that China’s central bank is “quite worried about this issue” as he asserted that the institution has taken measures in that direction. Yifei continued with his bashing comments and referred to these digital currencies as “speculation tools,” which have the potential to endanger financial and social security.
Plan for today. If Bitcoin cannot overcome the resistance at 33000-33500, then we can again go to 32-31K. Growth and consolidation above 33K will open the way for 34 and above.
Lastly, the EU will create a new money laundering regulator and stricter cryptocurrency reporting requirements. According to documents seen by Reuters, the agency should become the “centrepiece” of an integrated supervisory system consisting also of national authorities. In the absence of a pan-European anti-money laundering body, the executive power in Brussels has so far relied mainly on national regulatory agencies to enforce its AML rules. Cooperation hasn’t always been satisfactory when it comes to stopping dirty money, the report notes. That’s why the authors of the documents insist: Money laundering, terrorist financing and organised crime remain significant problems which should be addressed at Union level.
Wishing you a great upcoming weekend. Tomorrow is our Bitcoin101. As always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge
Good morning ...
*DECRYPT EDGE CONSULTANTS* is inviting you to a scheduled Zoom meeting.
Topic: *DIGITIZATION SHIFT .... WHERE ARE YOU?*
Time: *Jul 10, 2021 09:55 AM Nairobi*
BITCOIN101* - Let's learn about...
*- _How to Diversify Your Digital Asset Portfolio (+ Example Portfolios)_.*
*- Crypto-Markets news and this week updates.*
*- Open Q & A session*
Join Zoom Meeting
https://us02web.zoom.us/j/84485276576?pwd=aDNIOFpCRlNJd1dIUERnaG5Bd3dVQT09
Meeting ID: 844 8527 6576
Passcode: BITCOIN101
*DECRYPT EDGE CONSULTANTS* is inviting you to a scheduled Zoom meeting.
Topic: *DIGITIZATION SHIFT .... WHERE ARE YOU?*
Time: *Jul 10, 2021 09:55 AM Nairobi*
BITCOIN101* - Let's learn about...
*- _How to Diversify Your Digital Asset Portfolio (+ Example Portfolios)_.*
*- Crypto-Markets news and this week updates.*
*- Open Q & A session*
Join Zoom Meeting
https://us02web.zoom.us/j/84485276576?pwd=aDNIOFpCRlNJd1dIUERnaG5Bd3dVQT09
Meeting ID: 844 8527 6576
Passcode: BITCOIN101
45% of Young #Investors aged 18 to 29 say their first Investment was in #Cryptocurrency as #Playboy Launches a #Miami #NFT. Thoughts on the market 12.07.2021
Bitcoin rolled aback to 33K over the weekend, reaching local lows of 33004 on the Binance. At the time of writing, Bitcoin is trading at around 34,300 with a dominance index of 45.3%. Total Crypto Market capitalization is at $1.42 Trillion.
Stock markets opened in different directions. As of now, S&P 500 futures are down 0.17%. Gold, silver and oil are also falling. Asian indices are showing all the growth.
Bitcoin worked out Friday's review and was trading in the specified range. The maximum to which the price reached 34666 (Binance) is now trying to stay above 34500, the main support is being formed near the 33500 zone.
I am sure that many are tired of this market situation, but this is the reality and we need to gain strength to continue growing. I still think that soon we will have a good impulse and continued growth, so the action plan remains the same - we wait.
According to a UK survey, almost half (45%) of young Britons choose cryptocurrency for their first investment, and more than 50% of them have used borrowed money for this. The poll was conducted on 1,000 UK adults, aged 18 to 29, between 21 and 25 June 2021. Cryptocurrency exposure was broken down by bitcoin, Dogecoin and ‘other crypto assets’. Bitcoin was far and away the most popular cryptocurrency. A fifth of all 18 to 29-year-olds said they had invested in bitcoin at some point, with half of these turning to debt to fund it: 23% used a credit card, 17% used a student loan and 16% used another type of loan. Meanwhile, 27% of respondents admitted to using their credit card to invest in Dogecoin, 17% said they used their student loan and 12% cited another type of loan.
Lastly, Playboy magazine has released its own NFT collection. The shared news appeared via a tweet from the company's official twitter handle.
Plan for today. If Bitcoin can overcome the resistance at 35K, then it opens up to test the strength of 36000-36500 resistance level. If we leave and fix ourselves below 34K, then again we can test 33500-33000. My personal opinion, (biased view, subject to fail). As long as bulls didn't close above $36/$41 Daily/ weekly, BTC has a high probability to go below $30K! (breakout above these levels means bulls targeting CME GAP at $48K, then there will be another crash) For Mid /long term view, Market is the bearish cycle as long as BTC didn't close above $65K weekly!
Wishing you a good day ahead, remember you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge.
Bitcoin rolled aback to 33K over the weekend, reaching local lows of 33004 on the Binance. At the time of writing, Bitcoin is trading at around 34,300 with a dominance index of 45.3%. Total Crypto Market capitalization is at $1.42 Trillion.
Stock markets opened in different directions. As of now, S&P 500 futures are down 0.17%. Gold, silver and oil are also falling. Asian indices are showing all the growth.
Bitcoin worked out Friday's review and was trading in the specified range. The maximum to which the price reached 34666 (Binance) is now trying to stay above 34500, the main support is being formed near the 33500 zone.
I am sure that many are tired of this market situation, but this is the reality and we need to gain strength to continue growing. I still think that soon we will have a good impulse and continued growth, so the action plan remains the same - we wait.
According to a UK survey, almost half (45%) of young Britons choose cryptocurrency for their first investment, and more than 50% of them have used borrowed money for this. The poll was conducted on 1,000 UK adults, aged 18 to 29, between 21 and 25 June 2021. Cryptocurrency exposure was broken down by bitcoin, Dogecoin and ‘other crypto assets’. Bitcoin was far and away the most popular cryptocurrency. A fifth of all 18 to 29-year-olds said they had invested in bitcoin at some point, with half of these turning to debt to fund it: 23% used a credit card, 17% used a student loan and 16% used another type of loan. Meanwhile, 27% of respondents admitted to using their credit card to invest in Dogecoin, 17% said they used their student loan and 12% cited another type of loan.
Lastly, Playboy magazine has released its own NFT collection. The shared news appeared via a tweet from the company's official twitter handle.
Plan for today. If Bitcoin can overcome the resistance at 35K, then it opens up to test the strength of 36000-36500 resistance level. If we leave and fix ourselves below 34K, then again we can test 33500-33000. My personal opinion, (biased view, subject to fail). As long as bulls didn't close above $36/$41 Daily/ weekly, BTC has a high probability to go below $30K! (breakout above these levels means bulls targeting CME GAP at $48K, then there will be another crash) For Mid /long term view, Market is the bearish cycle as long as BTC didn't close above $65K weekly!
Wishing you a good day ahead, remember you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge.