Republic of #Panama Introduces Bill for Regulating #Crypto as #McDonald's now accepts Bitcoins, But Only in El Salvador.

Thoughts on the market 9.08. 2021.

Yesterday evening, Bitcoin lost support at 50K, going down to a low of 42843 on #Binance Exchange. This correction is gradually being redeemed and now Bitcoin is trading at about 46300. With a Crypto Market capitalization of $2.07 Trillion, BTC dominance index at 42.0%

Equity markets finished trading on Tuesday in different directions. The Dow Jones fell 0.76%, the S&P 500 fell 0.34%, and the NASDAQ rose 0.07%. Gold fell 2.07%. The dollar index rose 0.56% to 92.552.

An alternative version of yesterday's review worked out. Bitcoin failed to hold above the key support level of 50K and moved to a decline, the minimum was set at 42843. Altcoins followed the main cryptocurrency, some lost 20 percent or more, and the market capitalization fell below two trillion.

This correction happened right on the day when El Salvador recognized #Bitcoin as legal tender. Yesterday I warned about such a correction, and a test of 42K level on September 1.(https://t.me/decryptedge/722) Also, on August 30. Such a correction should not have come as a surprise. We grew too quickly and it was extremely important for us to unload, and now nothing prevents us from testing new highs.

Plan for today. Bitcoin is in the range of 44000-48000, an alternative option is going below 44K, in which case we will return to the levels at 43-42K.
To some news, McDonald's now accepts bitcoins, but only in El Salvador, after the country officially recognized cryptocurrency as legal tender. Shared via a Tweet by Aaron van Wirdum @AaronvanW who wrote “Just walked into a #McDonald's in San Salvador to see if I could pay for my breakfast with bitcoin, tbh(to be honest) fully expecting to be told no. But low and behold, they printed a ticket with QR that took me to a webpage with #Lightning invoice, and now I'm enjoying my traditional desayuno! Besides this the real news is El Salvador Banks will be regulatorily holding government subsidized BTC. That is the real news.

Amid Bitcoin (BTC) becoming legal tender in El Salvador, another country in Central America is progressing on its way to enable freedom to use cryptocurrencies like BTC and Ether (ETH). On Monday, the Republic of Panama introduced a bill on regulating cryptocurrencies, aiming to make the country “compatible with the blockchain, crypto assets and the internet.” Announcing the news on Twitter, Panamanian pro-crypto congressman Gabriel Silva stressed that the new legal initiative has the potential to generate thousands of jobs, create new investment sources, as well as make the government “more transparent.” In contrast to the government of El Salvador, which has required local businesses to accept Bitcoin in exchange for goods or services alongside the United States dollar, Panama’s new crypto bill does not intend to force obligatory Bitcoin acceptance. Instead, the legislation calls to establish freedom to use cryptocurrencies like Bitcoin and Ether in Panama, local TV network Telemetro reported.Source: cointelegraph.

Wishing you a blessed day ahead, and remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge,

#Ukraine Becomes the Latest Country to Legalise #Bitcoin and #Cryptocurrencies.

Thoughts on the market 10.09. 2021

Yesterday, Bitcoin was in the 45510-47400 range. Corrections to 45K were quickly redeemed and Bitcoin moved to growth. At the time of writing this review, the main cryptocurrency is trading at around 46400, with BTC dominance index of 41.0% and total crypto market capitalization of $2.14 Trillion,

Equity markets closed lower on Wednesday. The Dow Jones dropped 0.43%, hitting a monthly low, the S&P 500 lost 0.46%, and the NASDAQ lost 0.25%. Gold Futures for December delivery was up 0.15% to 1.796.25 a troy ounce. The dollar index dropped 0.13% to 92.525.

Nothing has changed much on the cryptomarket oscillating in the same range. Yesterday there were several attempts to gain a foothold above 47K, but ended in a sell off, to a low price of 45513 on the Binance Exchange.

I think that a short sideways trend awaits us now, perhaps from several days to a week, and then up again and another retrace to 40-37K, but this will not change the mid-term perspective. Pay attention to the dollar index, if it goes up - bitcoin falls and vice versa. As soon as the dollar starts to fall towards 91-90 we will see very fast growth and new highs.

Plan for today. Bitcoin is in the range of 44000-48000, an alternative option is going below 44000, in which case we can go to 42-40K. Remember and will keep reminding us as long as BTC does not close above 55/65 Daily/weekly we are not out of the woods.

Lastly to some news, Ukraine has legalized cryptocurrency in its new law on virtual assets. In the first reading, Ukraine MPs adopted the bill in December 2020. Virtual assets are defined as an intangible good that is subject to civil rights, has a value and is expressed in a collection of data in electronic form. Financial virtual assets must be issued by residents of Ukraine and secured by currency values ​​or securities or derivatives, the law says. The definition of concepts should solve the problem of accounting for cryptoassets on the balance sheet for business, the authors calculate. The document clearly indicates that virtual assets are not a means of payment on the territory of Ukraine and cannot be exchanged for property / goods, works or services. The NBU insisted on this, in particular, when preparing the document. “We have no questions about the text of the law,” Deputy Chairman of the National Bank Alexei Shaban told Forbes. Source.

Ukraine is the fifth country in as many weeks to set up ground rules for digital currencies following El Salvador’s move to adopt Bitcoin as legal tender.

Put simply, the law will protect the owners of virtual assets and exchange platforms from fraud. Cryptocurrencies in Ukraine have long been in a grey area, being neither legal nor forbidden due to a lack of existing laws that defined them and their usage. Back in December 2020 a crypto exchange EXMO was hacked and $10.5 million lost(https://t.me/decryptedge/140) and the Gov vowed to take action.

There is a growing number of governments trying to regulate cryptocurrencies. Besides Ukraine and El Salvador, Cuba and Germany have also made strides. Panama could be the next country to regulate cryptos as it is currently considering a draft law. Source: euronews.com/

Wishing you a great day ahead, remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.

5 Typical & Common Mistakes in Cryptocurrency Investing You Should Avoid.

- Crypto-Markets news and this week updates.
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48% of #Brazilians, Want Bitcoin Adopted as its Official currency, While The Mexico Central Bank Chief says Bitcoin is Barter, not Money.

Thoughts on the market 12.09. 2021

#Bitcoin was in the range of 44130-47030 during the day. At the time of this writing, the main cryptocurrency is trading around 46,100. Total Market capitalization of $2.24 Trillion, dominance index of 40.78%. Seems we headed to 3X.XX levels. See note on this.

Equity markets closed Friday with a drop. The Dow Jones fell 0.78% to hit a monthly low, the S&P 500 dropped 0.77%, and the NASDAQ dropped 0.87%. Gold and silver have continued their decline, oil is growing. The dollar index rose 0.16% to 92.632.

On the cryptomarket, the priority version of Friday's analysis worked out. We continue to move in the 45000-47000 trading range, where 47K is still the main resistance, a breakdown and consolidation above which will open the way to 50K. Note: On the bitcoin dominance index, last time we touched to 3X.XX levels we saw BTC price move from 6k to 9k before the drop to a bottom of 3k.

On Thursday we talked about how BTC movement in lateral direction can be from several days to several weeks. After such a growth, the market needs time to recover, and if we still go below 44K. I advise you to use such a gift to build up your positions.

So Bitcoin in the range of 44000-47000. An alternative option is a correction below 44K, in which case another 43-42K test is possible. Do not forget that on the thin weekend market, movements by a couple of thousand points in any direction are possible.

Bank of Mexico Governor Alejandro Diaz de Leon said that Bitcoin is more like a means of barter than "evolved" fiat money, Mexico's central bank chief said on Thursday, calling it a high-risk investment and a poor store of value.Governor Alejandro Diaz de Leon's comments suggest Mexico will not be following El Salvador any time soon in adopting the digital currency as parallel legal tender. "Whoever receives bitcoin in exchange for a good or service, we believe that (transaction) is more akin to bartering because that person is exchanging a good for a good, but not really money for a good," said Diaz de Leon.
"In our times, money has evolved to be fiat money issued by central banks," he said. "Bitcoin is more like a dimension of precious metals than daily legal tender." Source ; Reuters.

Evidently he needs to update his knowledge and understanding on money and currency, I believe he knows just cajoling and telling mexicans what they need to hear to protect the status quo.

Lastly, according to a new poll, 48% of Brazilians want to make bitcoin the official currency in the country, following the lead of El Salvador. Source: valorinveste.globo.com.

The tide is changing sooner than I thought.

Have a blessed Sunday ahead and remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.

It’s Time To End The SEC’s “Clarity” Charade On Crypto as #Bitcoin has registered Block No.700,000 since 2009.

Thoughts on the market 13.09. 2021

#Bitcoin on the weekend moved in the range of 44720-46460. Today it has already dropped to a low of $44480 on the Binance Exchange. At the time of writing this review, it's trading at around 44,600. Total Crypto Market capitalization now at $2.042 Trillion, dominance index 41.2%

Stock markets opened in different directions. At the moment, S&P 500 futures are slightly up 0.17%, Asian indices are in the red, gold and oil are showing gains. More information about the markets will be on our stock channel.

Bitcoin worked out the priority version of the weekend analysis and moved in the specified range. Lateral movement continues, the altcoins are shooting up selectively, fear of greed index is at 44 and everyone is waiting for a further fall. Most likely, it will be so, the main support is now being formed at the level of 44200 and if we lose it today, then we immediately go to 42K and below.

If we can return and gain a foothold above 46000-46200, then there is every chance to try the key resistance at 47K and above for strength. But today it is an alternative option.

Nothing newsworthy happened over the weekend. Save for that Bitcoin just hit Block No. 700,000 and just a few hours ago Forbes reported, for five years, investors and project developers in the $2 trillion blockchain innovation space have been subjected to an increasingly maddening charade that the U.S. Securities and Exchange Commission (SEC) has called “regulatory clarity”. Years of SEC speeches, public statements, meeting records, correspondence and first-hand accounts from market participants provide anything but clarity for the rules on digital assets or distributed ledger technology (DLT) projects. This is another financial crisis in the making.

At the center of it is #SEC Chairman Gary Gensler who recently said at an Aspen Institute appearance this summer that the rules are “awfully clear” on crypto. In a recent interview with Financial Times, he urged developers to “talk to us, come in” because the fate of the industry, like all finance, “is about trust.” Few can see this “clarity”, but its absence is so acute that even the biggest U.S. companies in the blockchain industry can no longer count on the SEC to provide any clear guidance other than through a lawsuit.

SEC Chairman Gary Gensler will appear on Tuesday(Tomorrow) for a Senate Banking Committee oversight hearing. Is actual oversight going to happen on the SEC’s regulation by enforcement? Will senators challenge him on the “clarity” charade? Will Congress legislate if Gensler refuses to act? Many angry and frustrated people –American employers, investors and voters – will not wait much longer. The SEC is supposed to provide clear, unambiguous rules through a transparent process. Lack of clarity has created a financial crisis before, and it can happen again. Crypto market will react to this.

Wishing you a blessed week ahead and remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.

South Korean #Crypto Investors Could Lose over $2.5 billion Due to Regulatory Crackdown as Foreign Investors Exempt From #Tax on #Bitcoin Profits: #El Salvador.

Thoughts on the market 14.09. 2021

During the last 24hr, Bitcoin was in the range of 43370-46880, the 43K correction was gradually redeemed and bitcoin moved to growth. As of this writing, Bitcoin is trading around 45,200, with a dominance index of 41.3%. Total Crypto Market capitalization is $2.06 Trillion.

Bitcoin worked out the priority version of yesterday's analysis, although it did not go below 43K, but nothing prevents it from doing it today. Perhaps the further fall was stopped by Michael Sailor, who announced that MicroStrategy was not going to stop and again bought 5,050 BTC worth $243 million. As of September 12, MicroStrategy owns 114,042 BTC on which the company has spent approximately $3.16 billion.

Yesterday there was news that Walmart will accept payments in #Litecoin. Price immediately increased by $ 70, but the news turned out to be fake and the price returned to its previous level. It is very important to check and analyse any news, and not to make investment moves under the influence of emotions. Therefore, for those who yesterday "bought" Litecoin or thought of buying it.. I recommend that you sign up to our October Crypto Master Class.

Plan for today. The priority option is bitcoin in the range of 44000-47000, the alternative is going below 44000, in which case we can go to 43 or even 42K.

Now, El Salvador aims to attract foreign investment, therefore, will exempt foreign investors from capital gains tax and income tax on Bitcoin transactions. A source. Yahoo

After September 24th, 40 out of 60 operating bitcoin exchanges with assets worth 2.6 billion will close in South Korea due to the requirements of the regulator. The Financial Services Commission (FSC) mandated all cryptocurrency exchanges operating in the country, along with foreign exchanges using the Korean won to utilize real-name accounts before the September 24 deadline. Less than two weeks before the regulator takes action, less than half of local crypto businesses are yet to meet the stringent requirements. “A situation similar to a bank run is expected near the deadline as investors can’t cash out of their holdings of ‘alt-coins’ listed only on small exchanges. They will find themselves suddenly poor. I wonder if regulators can handle the side-effects.” Affected Crypto Exchanges to Give Customers one Week Notice Before Deadline.

In order to use real-name accounts for their customers, South Korean cryptocurrency exchanges must partner with #banks in the country. However, these local banks are reluctant to partner with these exchanges, citing exposure to money laundering and other related crimes. Source: ​​BTCMANAGER

This is not traditional investment or financial advice. #Decryptedge #Blockchain #cryptocurrency

Africa’s #Cryptomarket has grown by more than 1,200% since 2020: Kenya, Nigeria, South Africa Leads, Total of $105.6 billion Received.

Thoughts on the market 15.09. 2021

Bitcoin moved within the 44590-47250 range during the day. And as of this writing, the main cryptocurrency is trading around 47050 with a #BTC dominance index 41.7%. Total Crypto market capitalization is at $2.12 Trillion.

Equity markets closed lower on Tuesday. The Dow Jones fell 0.84%, hitting a monthly low, the S&P 500 lost 0.57%, and the NASDAQ fell 0.45%. Gold and oil added a little. The dollar index dropped 0.02% to 92.627.

Bitcoin clearly worked out the priority version of yesterday's analysis and moved in the specified range, setting a high today of 47470 at the Binance exchange. We are now trying to stay at 47K.

The main resistance is now at the levels of 47500 and 48000, and another key one is 50K, which I think we will storm this week. Unless of course there is some kind of FUD.

Otherwise, we are going according to plan, the accumulation continues at full speed, no one is in a hurry to sell below 44K, positive prevails in the information field, and if we take into account that September is historically the most sluggish for the crypto market, then we are going very well. Plan for today. The priority option is bitcoin in the range of 45000-48000, the alternative is going below 45000, which will return us to 44K for refueling.

Interesting news, Africa's cryptocurrency market has grown by over 1200% since 2020. Digital analytics firm Chainalysis reported that the cryptocurrency market in Africa has grown significantly since last year in addition to the region having a larger share of overall retail transaction volume compared to the global average. High adoption in Kenya, South Africa, Nigeria and Tanzania. The company added that the popularity of P2P platforms could have been one of the driving factors toward greater crypto adoption in the region, given some countries have restricted or banned residents from sending money to exchanges through local banks.

According to Chainalysis, the entire continent received $105.6 billion worth of crypto between July 2020 and June 2021. Yet, it had a share of the market’s overall transaction volume made up of “retail-sized transfers” larger than any other region in the world — roughly 7% as opposed to the 5.5% global average. Source: Cointelegraph.
Image source @Bitcoin.com

Wishing you a blessed day ahead and remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.

Protesters Burn #Bitcoin ATM as part of Demonstration Against El Salvador President: “democracy is not for sale.” Russia central bank says bitcoin is a Financial Pyramid: “your money will be taken away”

Thoughts on the market 16.09. 2021

Yesterday #Bitcoin found support at 47300-47000 and moved from these levels to growth, reaching highs of $48500 @Binance exchange. At the time of writing, Bitcoin is trading at around 48,300 with a dominance index of 41.4% and total crypto market capitalization of $2.19 Trillion.

With yesterday's analysis fully working out, bitcoin remained in the indicated range. The low was set at 46682, and the high at 48500. If we are now fixing at 48K, then sideways movement in which the last week was moving can be considered complete, and the resistance at 48500 is the last obstacle on the way to retesting 50,000.

For today the priority option is bitcoin in the range of 46000-50000, the alternative is going below 46000, but today this is unlikely.

The first deputy chairman of the Central Bank, Sergei Shvetsov, said that cryptocurrencies are a minefield and a high-tech financial pyramid, which could collapse to zero at one moment. He did not explain how it was zero, but promised to protect citizens from the risks of losing money. According to the first deputy chairman of the Central Bank, the regulator will explain to users that the purchase and storage of cryptocurrencies involves a high risk and is not protected by the Bank of Russia in any way. Source:

Lastly, protesters burned a bitcoin ATM as part of a demonstration against the President of El Salvador. News outlet Teleprensa and others posted videos on social media showing a Chivo-supported kiosk in San Salvador burning amid a crowd of journalists and protesters on Wednesday. The Bitcoin (BTC) machine, one of many arranged by the El Salvador government since its acceptance of the cryptocurrency as legal tender in the country, could be seen defaced with anti-BTC logos and a sign saying “democracy is not for sale.”

Even before the Bitcoin Law went into effect on Sept. 7, El Salvador faced resistance to the seemingly radical legislation. Protesters calling themselves the Popular Resistance and Rebellion Block marched in the capital city streets in July, while a group consisting of retirees, veterans, disability pensioners and other workers formed their own demonstration the following month.

We talked about this here https://t.me/decryptedge/718 and here https://t.me/decryptedge/568 back on June 8th. Perhaps El Salvador ought to educate its people first before on-boarding them somewhat forcefully. When you see retirees, veterans, disability pensioners and other workers voice out and come to the streets than its best to consider both side and most importantly educate and teach about #Cryptocurrencies and blockchain.

Remember, you must always do your own research. This is not traditional investment or financial advice. #Decryptedge

#SEC Chair Gensler: 'We Don’t Have Enough Investor Protection in #Crypto #Finance, #Issuance, #Trading, or #Lending' while #ECB President Christine Lagarde Insists Cryptos Are Not Currencies, Calls Them Highly Speculative, Suspicious.

Thoughts on the market 17.02. 2021

Yesterday, Bitcoin moved in the range of 47020-48550 and at the time of writing this review, the main cryptocurrency is trading at around 48,100 with a BTC dominance index of 41.6%. Total Crypto Market capitalization seats at $2,17 Trillion.

The priority version of yesterday's analysis worked out. Bitcoin was not able to gain a foothold above 48,000 and moved to a decline, the local minimum to which the price of 47021 at the Binance Exchange. All within the framework of the levels indicated yesterday in the review.
It is important to gain a foothold above 48000 and then on the way to 50,000, there is serious resistance at 48500. For today’s analysis is the same as yesterday. The priority option is bitcoin in the range of 46000-50000, the alternative is going below 46000.

European Central Bank President Christine Lagarde insists that crypto is not a currency, calling them speculative and suspicious, occasionally, and high intensity in terms of energy consumption.” She discussed the need for stablecoin regulation and central bank digital currencies (CBDCs). In her view on cryptocurrency, stablecoins, and central bank digital currencies (CBDCs) during an interview with Carlyle Group co-founder David Rubenstein, published Thursday.

The #ECB president then addressed the subject of central bank digital currencies. “And in all that you have the central banks who are prompted by a demand of customers to produce something that will make the central bank and central bank digital currencies fit for the century we are in, which is why we are not all looking at CBDC.” “instead of having banknotes and cash in our pockets in our wallets, we can have exactly the same thing but in a digital form so all of us are working on this and certainly I was keen to push the issue, the CBDC issue, on our agenda because I believe that we have to stand ready for that.”

She was also asked whether the ECB’s CBDC would be “to the exclusion of paper currencies or it would be side by side.” Lagarde replied: Side by side, because we want customers to have their preference. If they still want to hold those banknotes and cash, fine, and it should continue to be available and around. Source: news.bitcoin.com

On the other end, The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, explained that there is not enough investor protection in cryptocurrency. He added that the securities regulator needs more funding and manpower to effectively regulate the crypto sector.

During the congress hearing( https://t.me/decryptedge/740) He noted the enormity of the task, he told Senator Catherine Cortez Masto that the SEC could use “a lot more people” to evaluate the 6,000 digital “projects” and determine whether they are securities under the U.S. securities law. He said: ...it’s more like the Wild West or the old world of ‘buyer beware’ that existed before the securities laws were enacted.

Gensler has insisted that the rules on cryptocurrencies are clear. “We have a set of investor protection laws in this country … that was laid out in the 1930s where Congress wanted to protect the public against fraud and other bad actors … I think the laws [on cryptocurrencies] are clear,” he told CNBC Wednesday. “The case law, the Supreme Court’s weighed in on this multiple times and that many of these tokens do come under the securities laws.”

Interesting sentiments coming from 2 key monetary policy stakeholders, one seems to understand where finance and money is heading and one knows it and is in denial.

Wishing you a blessed weekend ahead and remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.

Topic: Bitcoin101
Time: Saturday 18th at 9.55AM

Today on BITCOIN101 Session we talk about...
- The Top 5 Things to Consider When Buying Cryptocurrency.
- Crypto-Markets news and this week updates.
- Open Q & A session

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President Of Turkey Announces War Against Cryptocurrencies. Thoughts on the market 20.09.2021

Bitcoin over the weekend could not hold on to 48K and went down to a low of price of 45100 on the Binance Exchange. At the time of writing this review, the main cryptocurrency is trading at around 47,245 with a BTC dominance index 42.6% Total Crypto Market capitalization sits at $2.01 Billion.

Notably, Stock markets opened lower. At the moment, S&P 500 futures are in the red by 0.87%, Asian indices have dipped, gold, silver and oil are also falling.

There is also no positive on the crypto market, bitcoin worked out an alternative version of friday's analysis and even exceeded it, reaching a low of 45100 (according to Binance). Altcoins follow BTC with some shading off more than 15%, and market capitalization fell below two trillion.

Where FUD came from: Another amendment to the infrastructure plan has appeared, according to which recipients of digital assets worth more than 10K will be obliged to verify the personal information of the sender. Another unrealizable crap, already staring fear.

The US Exchange Trading Commission (CFTC) has taken over the Binance exchange and will check for insider trading and market manipulation. It is clear that Binance has all the possibilities for this and most likely they do so, but nothing and no one will find it.

Turkish President Recep Erdogan has declared war on cryptocurrencies and called countering the spread of cryptocurrencies a priority of state policy. They are not the first, they are not the last who are at war with crypto, so this will not affect the market in the medium term.

On the one hand, such a correction is, of course, negative, but on the other, we unloaded some energy and, perhaps we can even lower, which means we have the opportunity to find good entry points and buy at a low price. Most likely, such discounts will already be the last this year.

For today, if we do not return above 47000, then we can continue to decline to 44000 and even 43000. Returning to 47000 will bring us back to 48000 and higher.
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This is not traditional investment or financial advice. #Decryptedge #Blockchain #cryptocurrency