A Major upgrade to #Bitcoin just activated — here’s what Crypto Investors Should Know.

Thoughts on the market 15.11.2021

Bitcoin spent most of the weekend in a narrow range of 63400-65300. Market activity was quite low, even despite the launch of the Taproot soft fork on the bitcoin blockchain. However, on Sunday evening, bitcoin resumed its growth, reaching the level of 66,200, and is currently trading around 66,000.

The market capitalization: $2.87 Trillion.
Domination index 43.3%.
Fear / Greed Index 72.
The dollar index fell by 0.14% to 95.01.

Taproot, a highly anticipated upgrade to bitcoin, went into effect on Sunday at block 709,632. This is the largest network upgrade since the SegWit protocol was activated back in August 2017. It includes several important technical improvements, the main of which is the implementation of the Schnorr signature scheme to improve the privacy and scalability of the network, and the MAST concept, which increases the efficiency of processing bulk data. This should potentially lead to lower transaction fees.

Taproot will “set the foundation for the next phase of innovation in the bitcoin protocol,” “We expect this upgrade to unleash a new wave of innovation in bitcoin focused mainly on smart contracts.” Said Katherine Dowling, general counsel and chief compliance officer at Bitwise Asset Management, in an interview with CNBC. Taproot has been discussed for a long time and therefore the market reacted sluggishly to its launch, with a slight decline. Overall, most of the top 10 digital assets by market cap ended the week in the green. The exceptions were Solana, which lost about 9% of its value, and Polkadot, which fell 11.5%.

As all the major news are left behind, the influence of technical factors on the market dynamics will be the main one in the coming days. As the main scenario, I consider further growth to historical highs and higher in the near future. To maintain the upward momentum, Bitcoin needs to hold the support level of $63,000, around which a significant volume of buy orders has formed at the moment.

For today, if we cannot return and gain a foothold above 66000-66350, then again we will go to 64000-63000. There is an option of consolidation which sets ground and every chance to rise to 68,000 and higher.

This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Image source: CNBC

Could $69,000 Be the #Bitcoin Top For this 20/21 Bull Market?

Thoughts on the Crypto market 16.11.2021

After reaching a high of $66400 on Monday morning, #Bitcoin pair turned in the opposite direction. Yesterday night it tested another support in the area of ​​60,000 and at the moment, it is trading for $61,180.

Market capitalization: $2.66 Trillion.
Dominance Index: 43.2%
Fear / Greed Index: 71
The dollar index rose to 95.44.

There is a 60-day correlation between the bitcoin price and the S&P 500 index peaked in the last 18 months. The correlation with the dollar index is inverse, and as soon as the dollar goes down, we will see new highs on Bitcoin or vice versa.

There, some negative news, one being the signing of the law on infrastructure projects, by Biden which provides for taxation of cryptocurrency owners as a source of funding. We wrote back about the approval of this bill by Congress in previous reviews.

For today: The resistance in the 63000-63500 zone has been passed. The road to the next solid support level of 60,000 is open and its test is likely just around the corner. Overcoming it will not be easy. Below is another key zone 57600-58000, which will serve as a springboard for the resumption of growth, or further breakdown.

Today November 16, the Chicago Board Options Exchange (CBOE) will begin trading Bitcoin ETFs based on CME-traded futures from asset management company VanEck. The instrument will receive the ticker XBTF. It will be the third in the lineup after similar offers from ProShares and Valkyrie Investments, which were listed on the NYSE and Nasdaq, respectively. A source.

#Bitcoin #hashrate continued to recover, after falling in June-July this year, with difficulty now at 22.67 trillion after a 4.69% increase on Sunday. This latest jump in difficulty was the 9th consecutive increase since mid-June. The next difficulty will now be happening just before the end of this month at an estimated increase of 1.11%, taking it to 22.93 trillion. FYI: This is the longest positive difficulty adjustment streak since more than three years back when the bull market reached its pinnacle, and the bear market ensued. Seventeen increases in a row were recorded between early December 2017 and early July 2018. The all-time high Bitcoin difficulty reached was at 25 trillion in mid-May, as per BTC.com. History does not repeat but sure rhymes.

At the backdrop, China is warning its own state-owned enterprises to get out of cryptocurrency mining and is considering imposing punitive measures in the form of higher power prices on companies that continue to defy a government ban as Bitcoin trades near record highs. a bigger onus on provinces and municipalities to investigate and clean up SOEs involved in mining.
Even though most miners have relocated, this may still have some effect and selling pressure for the bitcoins already minted to cover for costs. Let's see it unfold.

This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Image source:

79 Crypto Exchanges Dead in 2021

Thoughts on the Crypto market 17.11. 2021

Good afternoon, on Tuesday, Bitcoin continued to fall, going by yesterday’s analysis. A test on the $60,000 level turned out to be successful, and the pair headed lower to test the key support area 57400-58000 for strength. The demand in this area was so great that, having set a minimum at around 58640, the price quickly returned above 60,000, and then 61,000, after which it began to slowly sink again. At the moment the price is 59,500.

Entire spectrum of cryptocurrencies fell significantly over the past day too, reducing the market capitalization to $2.62 Trillion. Ethereum lost 11% of its value yesterday, Solana, Ripple, Cardano and Shiba Inu on average about 10%.
BTC Dominance index at 43.5%. The Fear / Greed Index dropped to 52%.
Dollar index dropped to 96.05.

The media reported some more negative news yesterday. The first of these was the statement by the CFO of Twitter that, in his opinion, investing in crypto assets now does not make sense due to the lack of regulation and high volatility. We shared yesterday that the press secretary of the National Development and Reform Commission of China Meng Wei added fuel to the fire. Once again stressed that mining virtual currencies is excessively harmful and consumes too much energy. Wei also warned state-owned enterprises in the regions against any participation in this, threatening punitive prices for consumed electricity. In addition, Reuters reported that the People's Bank of China plans to ban foreign exchanges from providing services to their clients domestically. So could 69,000 be the Bitcoin top for 20/21(t.me/decryptedge/852)

One of the main reasons for the fall is the dominance of the idea of ​​a likely, sooner and more significant than previously expected, increase in the discount rate by the Federal Reserve, and then by other central banks. Within this paradigm, the better-than-expected data on retail sales in the US gives officials the freedom to do so.

Cryptocurrencies and gold, which have benefited a lot lately from fear of high inflation, have begun to lose value. Probably, they will continue to decline until this new idea is disproved, proves premature, or simply goes to the second or fifth most important plan.

For today: Given that the pair has not yet managed to firmly hold above the level of 61000, a high probability of another test of the key zone 57400-58000 remains. It is difficult to break it, but if successful, the medium-term upward momentum will be lost. The next support levels are around 52,500 and 50,000. For a positive scenario to develop, bitcoin needs to gain a foothold above 62,400 in the near future, and then return to the 63,000-64,000 zone.

Interestingly, the third largest Bitcoin address added 207BTC at an average price of 62,000. Source. Finally, 79 cryptocurrency exchanges ceased operations in 2021. Report from a leading Crypto service comparison site – Cryptowisser, announced its annual Crypto exchange graveyard. With exchange deaths growing year on year, but with more regulatory sanctions and crypto awareness worldwide, it could be said that the regulations could stabilize the number of crypto exchanges on the market. The main reasons to the deaths are:
-The Regulatory Kiss of Death .
-The Hacking Death Penalty.
-The Powerhouse Grim Reaper.
-The Defi Death Experience. Source: Press Release: news.bitcoin.com.

This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Image source:

Fidelity Canada To Become The Country’s First Custodian For #Bitcoin as #KuCoin Labs Supports Metaverse Projects With $100 Million Fund. Thoughts on the market 19.11. 2021

Apologies for not posting yesterdays update.. I failed to click the ok button.. You can find the same on our Facebook Page. https://www.facebook.com/decryptedgeKe/posts/954518478812814

As indicated yesterday, the Bitcoin pair continued testing the key support level of $58,500. After several unsuccessful attempts, the bears have managed to break it, reaching a low price for the last month $55630. It is now trading around $56,068.

Market capitalization has dropped significantly again and currently stands at $2.48 Trillion.
BTC Dominance Index: 42.9%.
Fear / Greed Index: 34.
The dollar index dropped to 95.65.

Thursday did not bring any particularly significant bad news. On the contrary, it was reported that several Congressmen from the US Democratic Party wrote an open letter concerning the infrastructure projects law signed recently by Biden and earlier approved by the same Congress. It provides for taxation of cryptocurrency owners as a source of funding and obliges brokers to provide information on transactions. The letter said that this requirement would introduce uncertainty in the crypto industry and deprive the United States of a competitive advantage in the digital asset market. Also, a number of senators criticized this law.

In addition, it became known that according to Japanese laws, compensation payments to traders and investors of the Mt.Gox exchange will be credited to their accounts no earlier than 2023. Therefore, this factor can be ignored for about another year.

Some news, Fidelity has become the first official Bitcoin custodian in Canada for institutions. Fidelity Clearing Canada ULC, a subsidiary of Fidelity Investments, received the green light from the domestic regulators to become the country’s first custodian for the world’s largest cryptocurrency by market capitalization. Source1. #Kucoin will invest $ 100 million in the Metaverse. Source.2

For today, the break of support at $58,500 is quite alarming. If the price manages to gain a foothold below, a further fall to 53,500 and then 50,000 will become highly probable. Today the expiration of a large number of put options with strikes of 60,000 and 58,000 is coming.

It is possible that a significant share of sales in recent years is associated with the desire of their owners to get into the money. In this case, in the second half of the day, after expiration, the shorts will close, which will change the situation in the market.

This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Image source:

Lets learn: Live at 10am (07:00 Saturday UTC)
https://us02web.zoom.us/j/2451273744...
Meeting ID: 245 127 3744
Passcode: BITCOIN101

#ElSalvador to Issue $1 Billion #Bitcoin Bond to Fund '#BitcoinCity' Thoughts on the market 22.11. 2021

Over the weekend, #bitcoin continued its short recovery to 59,700, on Sunday it managed to reach 60029 (Binance). Thereafter it took a down correction and at the moment, the pair has returned to the 57000 level.

Market capitalisation: $2.552 Trillion.
BTC Dominance Index 42.3%.
Fear / Greed Index 50.
The dollar index rose again to 96.11.

One of the reasons for the weekend market's growth was the news about the release of the White Paper of the global Bitcoin exchange, published by the founder of Twitter, Jack Dorsey. It will be a decentralised open source cryptocurrency exchange platform. A feature of the future tDEX exchange will be fiat exchanges organised like p2p transfers with the possibility of arbitration disputes.

Many market participants are thinking about the imminent tightening of monetary policy in the US, noting that the rate of return on short-term US bonds fell to lows by the end of the week. Thus, there are no reasons for reducing investments in risky assets, and thoughts about the upcoming end of the period of high inflation and low interest rates may be too premature.

The European Central Bank and the US Federal Reserve will publish the minutes of the past meetings indicating the number of committee members who voted in favor of raising the discount rate, as well as their comments. The fact that these meetings were held before the release of extreme October inflation data in America and Europe will slightly reduce their relevance. Nevertheless, it will be possible to draw up a general idea of ​​the mood of officials who determine the level of the discount rate. Then extrapolate it to the next couple of years.

For today, a short-mid term update. The market is already significantly overheated, but a test of the recent low of 55600 cannot be ruled out. The loss of this level will lead to a dump to $52/48k and from this area, there is a chance for another rebound to $62K. If this happens the market will be stable for the first two weeks of Dec, then continue to dump on the second half of Dec to $40/38K/32/28K probably Q1 of 2022 will be bad for #crypto that is if Dec closes below $40/38K. We also talked about this during our Saturday Bitcoin101.

To some news, El Salvador will place a $1 billion bitcoin bond on the Liquid Network and plans to build the world's first bitcoin city. As published by news.bitcoin.com This city would be located at the east of the country, with its infrastructure being powered by geothermal energy. The city would also feature zero taxes for its citizens. On this, Bukele stated: Invest here and make all the money you want. This is a fully ecological city that works and is energised by a volcano. This is awesome, positive developments.

Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy: Bitcoin.com

Cryptocurrencies “Has The Potential for Undermining Currencies, for undermining the role of the dollar as the reserve currency, [and] for destabilizing nations.” Hillary Clinton.

Thoughts on the market 23.11.2021

After returning to the $57,000 level, the Bitcoin/USD pair spent Monday morning in a narrow range of $56800-57200.Then everything changed dramatically after the announcement that Biden approved the current head of the Federal Reserve Jerome Powell for the next term. The market's first reaction was pretty positive. In 20 minutes, Bitcoin rose in price by almost $3,000 from $56,600 to 59,500. However, the enthusiasm of buyers quickly faded away and the pair began to gradually decline to the previous levels. After another unsuccessful test of the recent low of $55,600, the quotes are now near the $56,500 mark.

Market capitalization has dropped significantly again and currently stands at $2.556 Trillion.
BTC Dominance Index: 41.8%.
The Fear / Greed Index dropped to 33.
The dollar index rose to 96.58.

In general, we can make an unambiguous conclusion that the traditional financial markets reacted positively to the news of Powell's appointment. Despite the fact that he belongs to the camp of "doves", Powell is perceived by investors to be much more moderate in his beliefs than another contender for the position, Lael Brainard. The level of the discount rate in the medium term will be higher, and inflation - lower than it could have been in the case of Biden's other choice, and key market players are making appropriate changes to their portfolios. Against this background, the yields on two-year and five-year Treasury bonds jumped to their highest values ​​since the beginning of 2020, the dollar index rose, and quotations of gold (a traditional asset- refuge from inflationary risks) collapsed. For cryptocurrencies (an unconventional asset-refuge from inflation), such conclusions of market participants turned out to be very inappropriate.

Just last week, Hillary Clinton, Characterized cryptocurrency as a threat while discussing competition between global powers during a panel of the Bloomberg New Economy Forum. Speaking about the rivalry between China and democracies in North America, Europe and Australia, Clinton highlighted the rise of cryptocurrencies as being important, and as deserving of attention as artificial intelligence.

For today, despite the somewhat unfavorable news background, the technical picture of the main pair has not changed significantly. Until recent lows at 55600 are passed, the possibility of renewed growth remains as mentioned yesterday. A large volume of buy interest continues to be found around the 53,500 and 50,000 levels, which can serve as good entry points for long positions.

On the #CryptoNews, Most often, internet users on Google search for Dogecoin, Shiba Inu, and Cardano. #Binance Smart Chain activity has skyrocketed ahead of the Bruno update on November 30th. Lastly, Norway is considering banning Bitcoin mining. The European Commission, which would enforce any crypto regulation at an EU level, told Euronews Next it was encouraging the industry to "migrate applications" from energy-intensive proof of work blockchains to less demanding protocols like proof of stake and hybrid consensus models. On the other hand, more than 1.8 million miners have moved to Russia after the ban on bitcoin mining in China.

As always, wishing you a great day ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Images & News Courtesy. blockworks.co | euronews.com |

Citi Plans to Hire 100 Staffers for Beefed-Up Crypto Division. Thoughts on the market 24.11. 2021.

Bears continued their attempts to hit the recent lows and even managed to slightly update them at around 55400. The Bitcoin pair traded in a narrow range of $55,650-57,800, and with a decline to $55,000, it was quickly bought off and flew away above 57000. The price now is around $56,700.

Market capitalization: $2.56 Trillion.
BTC Dominance Index $41.7%.
Fear / Greed Index 42.
The dollar index set a new one and a half year high of 96.91.

No important news was released yesterday, so the market was trading under the influence of technical factors. It should be noted that the whales have recently significantly increased their accounts on the exchanges. This does not correlate well with the fact that, in aggregate, an outflow of funds from exchange wallets continues to be recorded, the reserves of which have already decreased to their lowest values ​​since mid-2018. According to CryptoQuant, 91% of all deposits on all exchanges in the last 72 hours were made by whales.

Despite a significant drop in the market last week, the inflow of funds to cryptocurrency funds has practically doubled over this period.

Today we expect minutes of the last meeting of the Federal Committee will be published. They directly relate to the paradigm that has recently dominated the market about a quick and significant increase in the US interest rate, which will lead to a decrease in inflation. The risks here, unfortunately, are shifted downward, since the paradigm itself often distorts the perception of facts. If, according to the minutes, it turns out that one or several members of the Committee voted for an increase in the discount rate, or made some "hawkish statements", this can be perceived as a reason for selling. If the protocols are as neutral as possible, that is, it turns out that no one voted for a rate hike or said anything, market growth may be limited.

For today, the technical picture remains the same. The area of $53,500-55,400 has strengthened its value and is holding back sellers for now. Buying around 53,500 with an opportunity to get around 50,000 looks tempting, however, it is advisable to postpone them until full liquidity returns.

Interestingly Citigroup plans to significantly expand its crypto division. As reported by Coindesk, Global banking powerhouse Citi is hiring 100 people to beef up its blockchain and digital assets division, according to a person familiar with the bank’s plans. Citi has also made Puneet Singhvi head of digital assets for the institutional clients group (ICG) at Citi as of Dec. 1, according to a company memo shared with CoinDesk. Singhvi was most recently head of blockchain and digital assets for Citi’s Global Markets team. In other news, ECB will include retail crypto transactions in its electronic payments regulation. The IMF has again criticized the legalization of bitcoin in El Salvador. The largest bank in Estonia will allow its clients to purchase cryptocurrencies. Lastly, the number of non-zero bitcoin addresses is approaching 400 million.

Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy: @Coindesk

Morgan Stanley Increases Bitcoin Exposure, Buys More Grayscale BTC Trust Shares as ETH Burns 1M ETH.

Thoughts on the market 25. 11. 2021

Yesterday, the pair continued testing the currently key support level 55600. The trading range narrowed to 55900-57400. This is not surprising given the drop in trading volumes perhaps due to the upcoming Thanksgiving Day in the United States. The thoughts of American traders were no longer about work, but about a baked turkey I presume. Nonetheless Bitcoin recovered this morning and reached the $58,300 mark. It is currently trading at $57,223.

Market capitalization: $2.58 Trillion.
BTC Dominance Index: 41.7%.
Fear / Greed Index: 32.
The dollar index continues to set records. Yesterday it had a high value of 96.88. Currently it is 96.76.

Another negativity to the market was added by the news of the preparation by the Government of India of a bill on the regulation of digital assets. It is known so far that some of the wording in it is not spelled out clearly enough and, with a certain interpretation, may imply an almost complete ban on cryptocurrencies. Despite the fact that the bill is not yet ready and has not been adopted by parliament, this news has caused a wave of panic sales on the main Indian crypto exchange WazirX. As a result, the price of bitcoin and ether on this exchange dropped by 16% and 12%, respectively.

The publication of the minutes of the last meeting of the Federal Committee, held on November 3, did not have any impact on the market. As expected, none of its members voted to raise the discount rate, but in accompanying statements, some indicated a willingness to cut stimulus measures faster than previously predicted. The head of the Federal Reserve Bank of San Francisco, Mary Daly, has already spoken in about the same vein today. It assumes that the first hike in the discount rate will take place towards the end of next year. However, she said, even if there are two increases in the discount rate in 2022, monetary policy as a whole will remain stimulating until at least mid-2023. From which we can conclude that inflation in the United States will remain at a fairly high level for at least two more years.

For today, from a technical point of view, the $55,600 level has significantly strengthened after several unsuccessful attempts to overcome it. The BTC pair has returned to the range of 57000-58000 from which a further recovery can start. As I said earlier, for the development of a positive scenario, bitcoin needs to gain a foothold above 60,000. If we drop below $57,000, another test of support cannot be ruled out.

Interesting: Morgan Stanley has increased its investment in the Grayscale Bitcoin Trust. This underlines the firm's commitment to cryptocurrencies. According to recent filings from the United States Securities and Exchange Commission on Tuesday, the Morgan Stanley Insight Fund increased its holdings of Grayscale Bitcoin Trust, or GBTC, shares more than 63%.

In some other news, Cardano and Tron are in trouble with US regulators. eToro one of the leading cryptocurrency exchange platforms, announced that it will be delisting Cardano (ADA/USD) and TRON (TRX/USD). The exchange stated that these two coins would no longer be available for its US customers. The delisting from eToro comes as Cardano was listed on Bitstamp, an even larger exchange platform. The exchange did not disclose the existing regulatory concerns that made it delist the two tokens. Moreover, regulatory authorities in the US have not issued any regulatory statements regarding the two tokens, which makes the move suspicious.

Lastly, 1 million ETH was burned on the Ethereum network. The London hard fork included EIP-1559, which changed how transaction fees are collected. Ethereum Improvement Proposal that instituted a base fee, not for miners who validate network transactions, but for the network to take out of circulation. The price of ETH has risen roughly 50% since the August upgrade. Source | decrypt.co

Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:

#Adidas partners with #Coinbase Amid #Metaverse Push as #Fed in second Powell term must ensure inflation does not become 'endemic' - Yellen

Thoughts on the market 26.11.2021

Bitcoin continued its long-awaited recovery on Thursday. Moving away from the daily lows around 57,000, the pair rushed to the important resistance of 60,000, which has not yet been overcome. At night, the pair began to decline again and at this time the quotes are around $57,700.

Market capitalization: $2.622 Trillion.
BTC Dominance Index: 41.7%.
Fear / Greed Index: 47.
The dollar index: 96.70.

American stock markets were closed for Thanksgiving. The overwhelming majority of European indices recorded growth.

Bitcoin volatility is increasing. This is partly due to the upcoming expiration of a large number of options today. There are twice as many call options holders, however, in order for most of them to make money, it is necessary to push the pair into the 60,000-62,000 range.

No big news is expected today, but next week there will be a speech to Congress by the second-term head of the Federal Reserve, Jerome Powell. This event carries significant risks for the market, since if his speech is regarded as "hawkish", a new wave of a sale off may well begin. In addition, at the same meeting, his predecessor, and now the Minister of Finance Jannet Yellen, who is now in charge of regulating the cryptocurrency market, will speak at the same meeting. Quoting her. "I think we do have to be concerned about inflation. It's reached the levels that concern most Americans who are seeing it and their pocketbook when they go to the store to buy food or to fill up their cars," said Yellen. Those are red flags right there.. Warning shots! Mike Novogratz a notable #Crypto investor and player has warned that Jerome Powell's second term could hurt the crypto market.

For today: 60,000 remains an important level. A break below will form a double bottom at 55600 and open the way for further recovery in the 62000-63000 range. A pullback below 57,000 will bring recent lows back to the agenda. My eyesight is set at $56,980 for now.

Interesting news, Hillary Clinton now called for increased regulation of the crypto industry in order to resist manipulation by Russia and China.

Speculation has emerged that Adidas could be partnering to enable crypto payments for the sportswear firm, bringing a potential digital asset payment integration to the Adidas ecosystem.

Adidas took to #Twitter to confirm the pairing through a nonchalant statement: “we’ve partnered with Coinbase. Probably nothing,” the company wrote. Coinbase responded by tweeting a handshake emoji. The partnership follows an announcement that Adidas will launch an ‘Adi-verse’ in partnership with The Sandbox, a toolbox which lets users people develop blockchain-based virtual worlds.

According to the Bank of Russia, Russians annually make transactions in cryptocurrency worth $5 billion. Finnish regulators on the other hand restrict cryptocurrency transactions.

Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy: