El Salvador Adds More #Bitcoin to National Treasury, President Nayib Bukele Tweets Thoughts on the market 29.10.2021
After the panic drop on Friday, Bitcoin spent most of the weekend in a narrow range of 53700-55300. Trading volume declined by about a quarter, closer to Sunday evening, a new November low of 53256 at the Binance Exchange was set, but was quickly pushed back to the 55000 level. The rally continued overnight and the pair is currently trading around 57330, forming a false breakout.
Market capitalization: $2.56 Trillion.
BTC Dominance Index 42.1%.
Fear / Greed Index 33.
The dollar Index : 96.27.
Over the past two days, a new strain of the Covid-19 virus that caused markets to crash on Friday has been found in the United States and parts of Europe. So far, this has not led to a sharp deterioration in the epidemiological situation and the closure of borders. WHO held a special meeting on this matter, Israel, US and the UK have since cut off flights to some African countries.
Now there are two options for the development of events. In the first case, if it turns out that this carries a great threat and is able to bypass the immune response of those vaccinated and ill. Then lockdowns will return with all the ensuing consequences in the form of measures to stimulate the economy, infinitely low interest rates of central banks and record inflation. Which is very good and is one of the main reasons for the growth in the cryptocurrency market capitalization in recent years.
In the second case, this strain will be about the same as all the previous ones, the panic will immediately disappear, and investors will again start buying assets that have fallen in price.
Therefore, this should be used as an opportunity to make purchases at significant discounts. Take an example from El Salvador, who bought an additional 100 BTC after such a sale.
Another negative was thrown again by China, which began blocking IP addresses of the leading information sites for cryptocurrency, as well as mining pools, the hash rate of which decreased by about 10%. I think that China no longer plays any important role in the crypto industry, VPN still works!
Lastly, a large number of officials from the sphere of finance in Europe, Great Britain, etc., and most importantly the head of the Federal Reserve, Jerome Powell, are scheduled to speak this week. There is a good chance that what happened on Friday and a new round of pandemic-related fears will force them to reduce the harshness of their speeches. This will force many investors, who did not receive the expected hints of an early curtailment of stimulus measures and an increase in the discount rate, to revise their forecasts and resume investing in risky assets.
For today, Bitcoin price support at $53,500 held out once again, while Bitcoin managed to return to the 56000-58000 range. The technical picture has improved significantly. The next step for the development of the priority positive scenario will be the resumption of $60,000. In the alternative scenario, a break below the level of 53500 will lead to another zone of accumulation of buy orders in the area of 52700.
The President of El Salvador responded to the head of the Bank of England about accepting bitcoin as an official means of payment. In a sarcastic way. “Bank of England is “worried about El Salvador’s adoption of Bitcoin? Really? I guess the Bank of England’s interest in the well-being of our people is genuine. Right? I mean, they have always cared about our people. Always. Gotta love Bank of England.”
With that wishing you a great week ahead. #NFA. #DYOR.
After the panic drop on Friday, Bitcoin spent most of the weekend in a narrow range of 53700-55300. Trading volume declined by about a quarter, closer to Sunday evening, a new November low of 53256 at the Binance Exchange was set, but was quickly pushed back to the 55000 level. The rally continued overnight and the pair is currently trading around 57330, forming a false breakout.
Market capitalization: $2.56 Trillion.
BTC Dominance Index 42.1%.
Fear / Greed Index 33.
The dollar Index : 96.27.
Over the past two days, a new strain of the Covid-19 virus that caused markets to crash on Friday has been found in the United States and parts of Europe. So far, this has not led to a sharp deterioration in the epidemiological situation and the closure of borders. WHO held a special meeting on this matter, Israel, US and the UK have since cut off flights to some African countries.
Now there are two options for the development of events. In the first case, if it turns out that this carries a great threat and is able to bypass the immune response of those vaccinated and ill. Then lockdowns will return with all the ensuing consequences in the form of measures to stimulate the economy, infinitely low interest rates of central banks and record inflation. Which is very good and is one of the main reasons for the growth in the cryptocurrency market capitalization in recent years.
In the second case, this strain will be about the same as all the previous ones, the panic will immediately disappear, and investors will again start buying assets that have fallen in price.
Therefore, this should be used as an opportunity to make purchases at significant discounts. Take an example from El Salvador, who bought an additional 100 BTC after such a sale.
Another negative was thrown again by China, which began blocking IP addresses of the leading information sites for cryptocurrency, as well as mining pools, the hash rate of which decreased by about 10%. I think that China no longer plays any important role in the crypto industry, VPN still works!
Lastly, a large number of officials from the sphere of finance in Europe, Great Britain, etc., and most importantly the head of the Federal Reserve, Jerome Powell, are scheduled to speak this week. There is a good chance that what happened on Friday and a new round of pandemic-related fears will force them to reduce the harshness of their speeches. This will force many investors, who did not receive the expected hints of an early curtailment of stimulus measures and an increase in the discount rate, to revise their forecasts and resume investing in risky assets.
For today, Bitcoin price support at $53,500 held out once again, while Bitcoin managed to return to the 56000-58000 range. The technical picture has improved significantly. The next step for the development of the priority positive scenario will be the resumption of $60,000. In the alternative scenario, a break below the level of 53500 will lead to another zone of accumulation of buy orders in the area of 52700.
The President of El Salvador responded to the head of the Bank of England about accepting bitcoin as an official means of payment. In a sarcastic way. “Bank of England is “worried about El Salvador’s adoption of Bitcoin? Really? I guess the Bank of England’s interest in the well-being of our people is genuine. Right? I mean, they have always cared about our people. Always. Gotta love Bank of England.”
With that wishing you a great week ahead. #NFA. #DYOR.
Jack Dorsey Steps Down as #Twitter CEO, “Really Sad...Yet Really Happy” about the decision. Tanzania Plans to Launch CBDC. Thoughts of the market 30.11.2021
Yesterday, the Bitcoin pair traded in a narrow range of 56800-58300. However, in the evening, Bitcoin shot up to $58800 then it returned to the same levels and now trades around $56200. That is high price volatility.
Market capitalization: $2.60 Trillion.
BTC Dominance of Index: 41.6%.
The index of fear / greed: 40.
The dollar index: 96.11.
In general, Monday turned out to be a positive day for risky assets. Messages from South Africa began to receive reports that the virus variant- omicron showed very light symptoms. WHO published a statement of extremely high contagiousness of a new variety of virus, but at the same time aims to not resort to the closure of boundaries.
Against this background, many investors began to realize the excessiveness of the reaction to this news on Friday and began to restore the previously closed positions.
It should be noted that despite the significant drop in prices on the cryptocurrency market last week, not all coins supported this trend. Tokens associated with the Virtual Universe MANA, DECENTRALAND project, and his Sand's competitor, from the developers "The Sandbox", managed to grow by 17% and 35%, respectively. What is metaverse and why they are needed, will share a write up soon.
For today, the breakthrough above the level 58000 does not change the technical picture at the root, although it is a pretty good signal, it is necessary to return to the rise above this mark, and then overcome 60,000. If you leave and fix below $55,000, we can again test $53,000, and then $52,700.
Michael Sailor does not seem to stop. Microstrategy bought another 7000 BTC for $ 414 million. Now the company owns 121,044 BTC at an average course of purchase $ 29,534.
Jack Dorsey, the founder of Twitter, yesterday announced his departure from the company as CEO. ‘This was my decision and I own it’, Mr Dorsey said, saying that he did not want Twitter to be ‘founder-led’ and the company will be ‘free of [his] influence’ While it is unclear what Mr Dorsey will do after leaving Twitter, the billionaire has been a consistent advocate of cryptocurrency - which he has said will ‘unite the world’. He is also the head of payment company Square, which bought a majority stake in music streaming service Tidal. I couldn't agree with him more.
Lastly, India does not plan to recognize bitcoin currency. India plans to introduce the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, in the ongoing winter session of the Parliament. It seeks to prohibit all private cryptocurrencies and introduce an official digital currency of the central bank. Looks like the same route Tanzania is taking as well. Having expressed interest back on June 2021.(https://t.me/decryptedge/581) They are preparing to launch a digital form of its local currency, the Tanzanian shilling, the governor of the Bank of Tanzania said, according to a Bloomberg report.
Follow your risk management defined strategies, you must always do your own research. This is not traditional investment or financial advice. #Decryptedge
Yesterday, the Bitcoin pair traded in a narrow range of 56800-58300. However, in the evening, Bitcoin shot up to $58800 then it returned to the same levels and now trades around $56200. That is high price volatility.
Market capitalization: $2.60 Trillion.
BTC Dominance of Index: 41.6%.
The index of fear / greed: 40.
The dollar index: 96.11.
In general, Monday turned out to be a positive day for risky assets. Messages from South Africa began to receive reports that the virus variant- omicron showed very light symptoms. WHO published a statement of extremely high contagiousness of a new variety of virus, but at the same time aims to not resort to the closure of boundaries.
Against this background, many investors began to realize the excessiveness of the reaction to this news on Friday and began to restore the previously closed positions.
It should be noted that despite the significant drop in prices on the cryptocurrency market last week, not all coins supported this trend. Tokens associated with the Virtual Universe MANA, DECENTRALAND project, and his Sand's competitor, from the developers "The Sandbox", managed to grow by 17% and 35%, respectively. What is metaverse and why they are needed, will share a write up soon.
For today, the breakthrough above the level 58000 does not change the technical picture at the root, although it is a pretty good signal, it is necessary to return to the rise above this mark, and then overcome 60,000. If you leave and fix below $55,000, we can again test $53,000, and then $52,700.
Michael Sailor does not seem to stop. Microstrategy bought another 7000 BTC for $ 414 million. Now the company owns 121,044 BTC at an average course of purchase $ 29,534.
Jack Dorsey, the founder of Twitter, yesterday announced his departure from the company as CEO. ‘This was my decision and I own it’, Mr Dorsey said, saying that he did not want Twitter to be ‘founder-led’ and the company will be ‘free of [his] influence’ While it is unclear what Mr Dorsey will do after leaving Twitter, the billionaire has been a consistent advocate of cryptocurrency - which he has said will ‘unite the world’. He is also the head of payment company Square, which bought a majority stake in music streaming service Tidal. I couldn't agree with him more.
Lastly, India does not plan to recognize bitcoin currency. India plans to introduce the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, in the ongoing winter session of the Parliament. It seeks to prohibit all private cryptocurrencies and introduce an official digital currency of the central bank. Looks like the same route Tanzania is taking as well. Having expressed interest back on June 2021.(https://t.me/decryptedge/581) They are preparing to launch a digital form of its local currency, the Tanzanian shilling, the governor of the Bank of Tanzania said, according to a Bloomberg report.
Follow your risk management defined strategies, you must always do your own research. This is not traditional investment or financial advice. #Decryptedge
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#Tanzanian President Samia Suluhu Signals interest in #Blockchain & #Cryptocurrency, #Tunisia’s Economy Minister Says He’s Going to Decriminalize Buying #Bitcoin and Dutch Finance Minister Says ‘Supervision Is More Effective Than a Total Ban’ Thoughts on…
Bitcoin Bull run shows signs of wear as crypto investors eye other coins; #Omicron, #Fed Taper Loom. Crypto Exchange Backed By #PayPal’s Peter Thiel And Richard Li Goes Live For Institutional Clients
Thoughts on the market 1.12.2021
Bitcoin after falling to $56,000, it began a gradual recovery and by the time the head of the Federal Reserve spoke before Congress, it returned to the $58,500 mark. After the end of the speech, Bitcoin plummeted to $56,600. At the moment we are at $56,800.
Market capitalization: $2.63 Trillion.
BTC Dominance Index: 40.9%
Fear / Greed Index: 34
The dollar index: 95.92.
On Tuesday morning, the head of the Moderna company brought another negative to the market, who said that the effectiveness of their vaccine against the new Omicron coronavirus strain is expected to be about the same as against the Delta strain. This is significantly lower than against earlier variants of the virus.
The main event that rocked the markets again was the speech by the head of the Federal Reserve, Jerome Powell, before Congress. As expected, he said inflation is high, which gives reason to think about cutting stimulus measures several months earlier than previously thought. In his opinion, high inflation will persist until at least mid-2022. In general, his speech was regarded as harsh, which provoked a fall in stock indices, oil and gold prices.
Another alarming note was the first positive difference in the value of 6-month put and call options since May this year. The difference for shorter weekly, 1 and 3 month options turned positive a little earlier in November. This suggests that long-term investors have begun to actively insure their long spot positions for a longer period, predicting a possible more protracted correction in the market.
Powell's toughness was widely expected and therefore priced into the market. In addition, the uncertainty of the situation with Omicron leaves the door open for ambiguous outcomes and expectations until the next meeting of the Federal Committee on December 15.
Interestingly, Former PayPal co-founder Peter Thiel launched Bullish Bitcoin exchange for institutional clients. As reported by Forbes. Among the first clients to operate on the Bullish exchange are a non-U.S. affiliate of Virtu Financial, the electronic market-making firm based in New York, and the Hong Kong-based crypto finance firm Amber Group. Bullish was established earlier this year as a subsidiary of Block.one, a blockchain software company backed by a group of renowned investors including PayPal cofounder Peter Thiel, hedge fund managers Alan Howard and Louis Bacon, and Hong Kong tycoon Richard Li. Eventually, Bullish will offer automated market making, lending, and portfolio management tools to its users.
In conclusion and our personal opinion, biased view, subject to fail we expect another dump from the current resistance zone to $52K/48K again and if the price holds above and rebounds once more, this will contribute to increasing the bulls' confidence to $60,000. but if not and the bears broke the $45K level with a daily/weekly close below next support will be around $35/30K! So as long as BTC moves below $65K weekly we take the bearish side. We could be wrong or right, so be sure to do your own research.
Follow your risk management defined strategies. This is not traditional investment or financial advice. #Decryptedge
Thoughts on the market 1.12.2021
Bitcoin after falling to $56,000, it began a gradual recovery and by the time the head of the Federal Reserve spoke before Congress, it returned to the $58,500 mark. After the end of the speech, Bitcoin plummeted to $56,600. At the moment we are at $56,800.
Market capitalization: $2.63 Trillion.
BTC Dominance Index: 40.9%
Fear / Greed Index: 34
The dollar index: 95.92.
On Tuesday morning, the head of the Moderna company brought another negative to the market, who said that the effectiveness of their vaccine against the new Omicron coronavirus strain is expected to be about the same as against the Delta strain. This is significantly lower than against earlier variants of the virus.
The main event that rocked the markets again was the speech by the head of the Federal Reserve, Jerome Powell, before Congress. As expected, he said inflation is high, which gives reason to think about cutting stimulus measures several months earlier than previously thought. In his opinion, high inflation will persist until at least mid-2022. In general, his speech was regarded as harsh, which provoked a fall in stock indices, oil and gold prices.
Another alarming note was the first positive difference in the value of 6-month put and call options since May this year. The difference for shorter weekly, 1 and 3 month options turned positive a little earlier in November. This suggests that long-term investors have begun to actively insure their long spot positions for a longer period, predicting a possible more protracted correction in the market.
Powell's toughness was widely expected and therefore priced into the market. In addition, the uncertainty of the situation with Omicron leaves the door open for ambiguous outcomes and expectations until the next meeting of the Federal Committee on December 15.
Interestingly, Former PayPal co-founder Peter Thiel launched Bullish Bitcoin exchange for institutional clients. As reported by Forbes. Among the first clients to operate on the Bullish exchange are a non-U.S. affiliate of Virtu Financial, the electronic market-making firm based in New York, and the Hong Kong-based crypto finance firm Amber Group. Bullish was established earlier this year as a subsidiary of Block.one, a blockchain software company backed by a group of renowned investors including PayPal cofounder Peter Thiel, hedge fund managers Alan Howard and Louis Bacon, and Hong Kong tycoon Richard Li. Eventually, Bullish will offer automated market making, lending, and portfolio management tools to its users.
In conclusion and our personal opinion, biased view, subject to fail we expect another dump from the current resistance zone to $52K/48K again and if the price holds above and rebounds once more, this will contribute to increasing the bulls' confidence to $60,000. but if not and the bears broke the $45K level with a daily/weekly close below next support will be around $35/30K! So as long as BTC moves below $65K weekly we take the bearish side. We could be wrong or right, so be sure to do your own research.
Follow your risk management defined strategies. This is not traditional investment or financial advice. #Decryptedge
#SEC 'no basis' to approve Bitcoin futures ETFs and not spot ETFs - Grayscale tells SEC as
Putin Warns Cryptocurrencies Carry Risks, Admits They May Have Future.
Thoughts on the market 02.12.2021
Bitcoin spent the first 12 hrs of Wednesday around the $57,000 mark, and then made another attempt to gain a foothold above 59,000, which again proved to be unsuccessful, hitting a low of $55,839.
Market capitalization: $ 2597 billion.
Dominance Index: 41.2%
Fear / Greed Index: 32
The dollar index is now 96.05.
There was no particularly significant news on Wednesday, and bitcoin trading took place mainly under the influence of technical factors. After three unsuccessful breakouts in the last three days on the way to the development of growth, the level of 59000 has strengthened. It has now a greater value than $60,000 and breaking it will serve as a good signal for buying with an initial target of 60,000.
For today, the upward movement scenario remains the priority, with the goals indicated above. Today I expect to trade in the range of 56000-59000. Price is now concentrated at 57000-57200, where it will gain strength for further growth.
To some news, Grayscale admitted that the SEC violated the law in approving bitcoin futures ETFs. As reported by Cointelegraph, Grayscale Investments fired back at the SEC over its recent rejection of VanEck’s spot Bitcoin ETF application. The operator of the Grayscale Bitcoin Trust (GBTC) issued a letter to the secretary of the SEC, Vanessa Countryman, on Monday to argue the SEC is wrong to reject spot Bitcoin ETFs since it has now approved three Bitcoin futures ETFs, one each from VanEck, Valkyrie and ProShares. Grayscale argues that the SEC has “no basis for the position that investing in the derivatives market for an asset is acceptable for investors while investing in the asset itself is not.”
Lastly, Putin noted that cryptocurrencies carry great risks, but they may have a future. He made a comment regarding cryptocurrencies while speaking at the VTB Capital Investment Forum “Russia Calling!” 2021, the head of state noted that crypto assets still carry a lot of serious risks. Quoted by the news portal Life.ru, Putin elaborated: “As for cryptocurrency, it is prohibited in some countries. It is not backed by anything, the volatility is high, the risks are high. I also believe that we need to listen to those who talk about the high risks.” This comes at the backdrop of a report by Russian major local banks in July 2021, the Bank of Russia suggested that the total annual crypto transaction volume of the Russian population is 350 billion rubles, or $ 5 billion. Placing Russians among the world’s most active participants in the cryptocurrency market, according to the country’s central bank.
With that wishing you a great afternoon ahead. #NFA. #DYOR.
Putin Warns Cryptocurrencies Carry Risks, Admits They May Have Future.
Thoughts on the market 02.12.2021
Bitcoin spent the first 12 hrs of Wednesday around the $57,000 mark, and then made another attempt to gain a foothold above 59,000, which again proved to be unsuccessful, hitting a low of $55,839.
Market capitalization: $ 2597 billion.
Dominance Index: 41.2%
Fear / Greed Index: 32
The dollar index is now 96.05.
There was no particularly significant news on Wednesday, and bitcoin trading took place mainly under the influence of technical factors. After three unsuccessful breakouts in the last three days on the way to the development of growth, the level of 59000 has strengthened. It has now a greater value than $60,000 and breaking it will serve as a good signal for buying with an initial target of 60,000.
For today, the upward movement scenario remains the priority, with the goals indicated above. Today I expect to trade in the range of 56000-59000. Price is now concentrated at 57000-57200, where it will gain strength for further growth.
To some news, Grayscale admitted that the SEC violated the law in approving bitcoin futures ETFs. As reported by Cointelegraph, Grayscale Investments fired back at the SEC over its recent rejection of VanEck’s spot Bitcoin ETF application. The operator of the Grayscale Bitcoin Trust (GBTC) issued a letter to the secretary of the SEC, Vanessa Countryman, on Monday to argue the SEC is wrong to reject spot Bitcoin ETFs since it has now approved three Bitcoin futures ETFs, one each from VanEck, Valkyrie and ProShares. Grayscale argues that the SEC has “no basis for the position that investing in the derivatives market for an asset is acceptable for investors while investing in the asset itself is not.”
Lastly, Putin noted that cryptocurrencies carry great risks, but they may have a future. He made a comment regarding cryptocurrencies while speaking at the VTB Capital Investment Forum “Russia Calling!” 2021, the head of state noted that crypto assets still carry a lot of serious risks. Quoted by the news portal Life.ru, Putin elaborated: “As for cryptocurrency, it is prohibited in some countries. It is not backed by anything, the volatility is high, the risks are high. I also believe that we need to listen to those who talk about the high risks.” This comes at the backdrop of a report by Russian major local banks in July 2021, the Bank of Russia suggested that the total annual crypto transaction volume of the Russian population is 350 billion rubles, or $ 5 billion. Placing Russians among the world’s most active participants in the cryptocurrency market, according to the country’s central bank.
With that wishing you a great afternoon ahead. #NFA. #DYOR.
Facebook Retreats from Crypto Ad Ban. Thoughts on the market 3.12. 2021.
Before we dive into today's review, some thoughts from Howard Marks. For a piece of information to be desirable, it has to satisfy two criteria: It has to be important, and it has to be knowable... but just because something is not knowable, that doesn't mean it's not important. Short answers especially in investment business, tech and sophisticated one, are usually a mistake because concepts are so complex and not given too easy short answers especially #Crypto. Rather than say buy or sell, which most people want!
Every investor and everybody should have a view of what their normal risk posture should be. - Howard Marks.
As I expected, Bitcoin spent Thursday in a narrow range of $56,000-$57,400. The bears tried several times to absorb buy orders near the important support level of $56,000, but each time it didn’t have enough momentum and the quotes flew into the area concentration at $57,000-$57,200.
Market Crypto Capitalization: $2.60 Trillion.
BTC Dominance Index: 41.1%
Fear / Greed Index: 31
The dollar index: 96.17.
There was little news on Thursday and it was mixed. Some say one of the reasons for yesterday's drop in quotations on the crypto market was the discovery of the first case of the Omicron strain in the United States. In my opinion, this news is too insignificant and expected to change anything. After all, no one hoped that America would be able to stay away from the next round of the pandemic.
I think in the coming days we will get acquainted with the first assessments of the impact of the new strain on the global economy and on the prospects for cryptocurrencies. The more this influence turns out to be, the brighter the prospects will be.
Bitcoin continues to trade in a narrow range, while the volume of open interest on the exchanges remains very high. This suggests the possibility of a strong movement in the event of a breakout of the key level. Top level of $59,000, then $60,000 bottom level $53,500 and $52,700. While current quotes are within $56,000-$58,000, it is difficult to say which of the above levels will pass the test of strength first.
For today: trading in the range of $56,000-$58,000 is expected today. Despite the fact that the technical picture on large timeframes still looks bearish,(We already mentioned this yesterday).
Interestingly Meta (Facebook) now removes cryptocurrency advertising restrictions. Google back on 3rd June 2021 lifted the same ban on the platform that was affected in 2018. (https://t.me/decryptedge/556). As reported by CNBC, Facebook on Wednesday announced its decision to reverse long-standing policy that prevented most cryptocurrency companies from running ads on its services. The move comes after the company tried and failed to launch a cryptocurrency that was intended to send money easily across the world via the company’s services. The company’s new policy is huge for the crypto industry and will allow more retail investors to access cryptocurrencies than ever before.
With that wishing you a great day ahead and Remember, you must always do your own research. This is not traditional investment or financial advice. #Decryptedge
Before we dive into today's review, some thoughts from Howard Marks. For a piece of information to be desirable, it has to satisfy two criteria: It has to be important, and it has to be knowable... but just because something is not knowable, that doesn't mean it's not important. Short answers especially in investment business, tech and sophisticated one, are usually a mistake because concepts are so complex and not given too easy short answers especially #Crypto. Rather than say buy or sell, which most people want!
Every investor and everybody should have a view of what their normal risk posture should be. - Howard Marks.
As I expected, Bitcoin spent Thursday in a narrow range of $56,000-$57,400. The bears tried several times to absorb buy orders near the important support level of $56,000, but each time it didn’t have enough momentum and the quotes flew into the area concentration at $57,000-$57,200.
Market Crypto Capitalization: $2.60 Trillion.
BTC Dominance Index: 41.1%
Fear / Greed Index: 31
The dollar index: 96.17.
There was little news on Thursday and it was mixed. Some say one of the reasons for yesterday's drop in quotations on the crypto market was the discovery of the first case of the Omicron strain in the United States. In my opinion, this news is too insignificant and expected to change anything. After all, no one hoped that America would be able to stay away from the next round of the pandemic.
I think in the coming days we will get acquainted with the first assessments of the impact of the new strain on the global economy and on the prospects for cryptocurrencies. The more this influence turns out to be, the brighter the prospects will be.
Bitcoin continues to trade in a narrow range, while the volume of open interest on the exchanges remains very high. This suggests the possibility of a strong movement in the event of a breakout of the key level. Top level of $59,000, then $60,000 bottom level $53,500 and $52,700. While current quotes are within $56,000-$58,000, it is difficult to say which of the above levels will pass the test of strength first.
For today: trading in the range of $56,000-$58,000 is expected today. Despite the fact that the technical picture on large timeframes still looks bearish,(We already mentioned this yesterday).
Interestingly Meta (Facebook) now removes cryptocurrency advertising restrictions. Google back on 3rd June 2021 lifted the same ban on the platform that was affected in 2018. (https://t.me/decryptedge/556). As reported by CNBC, Facebook on Wednesday announced its decision to reverse long-standing policy that prevented most cryptocurrency companies from running ads on its services. The move comes after the company tried and failed to launch a cryptocurrency that was intended to send money easily across the world via the company’s services. The company’s new policy is huge for the crypto industry and will allow more retail investors to access cryptocurrencies than ever before.
With that wishing you a great day ahead and Remember, you must always do your own research. This is not traditional investment or financial advice. #Decryptedge
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KryptoEdge
Search Giant Google Lifts 2018 Ban on Crypto Exchange, Wallet Advertisements. Thoughts on the market 03.06.2021
Bitcoin, yesterday moved in the range of 36000-38000 during the day. An attempt to gain a foothold above 38K last night did not lead to success…
Bitcoin, yesterday moved in the range of 36000-38000 during the day. An attempt to gain a foothold above 38K last night did not lead to success…
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Hackers Steal At Least $150 million in Assets from Crypto Platform BitMart as Bitcoin Ranges In the Bear Zone.
Thoughts on the market 06.12.2021.
This cryptos hacking business looks like it is getting more and more appealing. I am certain many wonder if they can learn. Remember it is illegal and once you are caught you will be prosecuted and jailed by the law. On the flip-side you can be a white hacker and take part in what we call #bounty hunters. Hack and espouse vulnerabilities on a project and get reward. Like the hacker who stole more than $600 million in crypto assets from DeFi platform Poly Networks, but later returned the entire haul, claiming they had only taken the assets “for fun” and had wanted to point out a security vulnerability. Now he is the Chief security officer.
Let's look at the markets, as I expected, and exceeded our 45k target mentioned on 1st December(https://t.me/decryptedge/877) a low of $42,000 was set on Saturday morning. Price then returned back to the range of 47000-48000, later it approached the level of 50,000, but could not overcome it, and spent almost the entire weekend in the range of $49,000-50,000. At the moment, quotes are around $49,000.
Market capitalization: $2.27 Trillion.
BTC Dominance Index: 40.7%
Fear / Greed Index: 16
The dollar Index: 96.30.
The market atmosphere remains negative. Friday's events demonstrated well that the idea of an imminent tightening of monetary policy in the United States, which has settled in the minds of investors, can materialize in panic sales with a huge number of stops. The head of the IMF Kristalina Georgieva also added fuel to the fire. In her speech at the online forum Reuters Next, she urged Fed officials to raise interest rates and cut stimulus, which they already intend to do, judging by their recent statements.
In accordance with its mandate, the Fed is required to monitor two indicators: unemployment and inflation. The data on unemployment came out last Friday and the market regarded them as quite acceptable for reducing stimulus, and the latest data on inflation will be released on Friday. The forecast is high - 6.8%. If it is justified or exceeded, then another decrease will await us, since the next meeting of the Federal Committee will take place on Wednesday, December 15, and investors will begin to revise their portfolio, predicting the next harsh statements from the officials.
The likelihood of such a development of events is very high, unless Omicron Variant makes significant adjustments to these plans. For this, it is necessary that the degree of its influence on the economy be assessed as high. For now it seems the situation is not yet developing in this direction, and the panic caused by it is gradually subsiding.
Based on the foregoing, it is better to postpone the purchases until December 15, or wait for more suitable lower levels unless you are #shorting the market. Until Bitcoin gains a foothold above the level of 50,000, the priority will remain the negative scenario with the resumption of sell-offs back to 47,000 and even lower. In the case of 50,000 breakout, growth will be capped at 53,500. So for today I expect a trading in the range of 47500-50000 with a possible fall to 46500 and 45000.
Thoughts on the market 06.12.2021.
This cryptos hacking business looks like it is getting more and more appealing. I am certain many wonder if they can learn. Remember it is illegal and once you are caught you will be prosecuted and jailed by the law. On the flip-side you can be a white hacker and take part in what we call #bounty hunters. Hack and espouse vulnerabilities on a project and get reward. Like the hacker who stole more than $600 million in crypto assets from DeFi platform Poly Networks, but later returned the entire haul, claiming they had only taken the assets “for fun” and had wanted to point out a security vulnerability. Now he is the Chief security officer.
Let's look at the markets, as I expected, and exceeded our 45k target mentioned on 1st December(https://t.me/decryptedge/877) a low of $42,000 was set on Saturday morning. Price then returned back to the range of 47000-48000, later it approached the level of 50,000, but could not overcome it, and spent almost the entire weekend in the range of $49,000-50,000. At the moment, quotes are around $49,000.
Market capitalization: $2.27 Trillion.
BTC Dominance Index: 40.7%
Fear / Greed Index: 16
The dollar Index: 96.30.
The market atmosphere remains negative. Friday's events demonstrated well that the idea of an imminent tightening of monetary policy in the United States, which has settled in the minds of investors, can materialize in panic sales with a huge number of stops. The head of the IMF Kristalina Georgieva also added fuel to the fire. In her speech at the online forum Reuters Next, she urged Fed officials to raise interest rates and cut stimulus, which they already intend to do, judging by their recent statements.
In accordance with its mandate, the Fed is required to monitor two indicators: unemployment and inflation. The data on unemployment came out last Friday and the market regarded them as quite acceptable for reducing stimulus, and the latest data on inflation will be released on Friday. The forecast is high - 6.8%. If it is justified or exceeded, then another decrease will await us, since the next meeting of the Federal Committee will take place on Wednesday, December 15, and investors will begin to revise their portfolio, predicting the next harsh statements from the officials.
The likelihood of such a development of events is very high, unless Omicron Variant makes significant adjustments to these plans. For this, it is necessary that the degree of its influence on the economy be assessed as high. For now it seems the situation is not yet developing in this direction, and the panic caused by it is gradually subsiding.
Based on the foregoing, it is better to postpone the purchases until December 15, or wait for more suitable lower levels unless you are #shorting the market. Until Bitcoin gains a foothold above the level of 50,000, the priority will remain the negative scenario with the resumption of sell-offs back to 47,000 and even lower. In the case of 50,000 breakout, growth will be capped at 53,500. So for today I expect a trading in the range of 47500-50000 with a possible fall to 46500 and 45000.
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Bitcoin Bull run shows signs of wear as crypto investors eye other coins; #Omicron, #Fed Taper Loom. Crypto Exchange Backed By #PayPal’s Peter Thiel And Richard Li Goes Live For Institutional Clients
Thoughts on the market 1.12.2021
Bitcoin after falling…
Thoughts on the market 1.12.2021
Bitcoin after falling…
#Crypto trading platform BitMart confirmed a “large-scale security breach” over the weekend, saying hackers stole about $150 million in assets. “The affected ETH hot wallet and BSC hot wallet carry a small percentage of assets on BitMart and all of our other wallets are secure and unharmed,” BitMart said in a statement Saturday night. BitMart added it was temporarily suspending withdrawals “until further notice.” However, third-party blockchain-security and data-analytics company PeckShield Inc. — which first called attention to the breach Saturday night — estimated losses at nearly $200 million, and detailed a list of outflows that included about $100 million in losses from various crypto assets on the Ethereum blockchain and $96 million in losses from assets using the #BinanceSmartChain. The stolen loot apparently included assets from nearly 50 tokens, including Binance Coin(#BNB), #Safemoon and #ShibaInu. Source: marketwatch.com. This is not going to be the last of such, (https://t.me/decryptedge/683) wallet security is one paramount fact in the digital world we are waking to every new day.
Wishing you a great week ahead, remember you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge.
Wishing you a great week ahead, remember you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge.
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US Senate Rejects Change To New Crypto Tax Rules In $1.2 Trillion Infrastructure Bill Despite Lawmaker, Billionaire Pushback. Closing The #Crypto “#Tax #Gap”
Crypto Market Thoughts 11.08.2021.
During the last 24hrs, Bitcoin moved within the range of…
Crypto Market Thoughts 11.08.2021.
During the last 24hrs, Bitcoin moved within the range of…
Binance Plans to Become Registered UK Firm Despite Regulatory Setbacks as Miami Jury Rules in Favor of Craig Wright, Who Claimed to Invent Bitcoin.
Thoughts on the crypto market 07. 12. 2021
For most of Monday, Bitcoin continued to trade in the 47500-49500 range. In the evening, bitcoin managed to overcome the $50,000 level to reach$51,450 level. At the moment, its price is $51,070.
Market capitalization: $2.379 Trillion.
BTC Dominance Index: 40.6%
Fear / Greed Index: 25
The dollar Index: 96.24.
Despite the recent declining correlation, crypto has followed the stock indices and continued to recover across virtually the entire spectrum of the market.
The breakout of the 50,000 level is quite a positive signal. It now needs to hold above this mark, and then overcome the 53000 level for the development of a positive scenario. A fall below 50,000 will make the picture bearish again. A break of 46,500 would pave the way to recent lows around 42,000.
For today, expect trading in the range 49000-53000. Today it is possible to test its upper border of 53000, a confident breakthrough of which is still unlikely.
#Binance plans to get registered in the UK despite regulatory hurdles by 2023. To become a registered crypto asset firm in the U.K., the platform must abide by money laundering and terrorist financing controls. To meet these requirements, Zhao indicated the company was considering setting up a specific company to run in the U.K. — similar to its Binance.US subsidiary. Zhao told The Telegraph on Saturday that Binance plans to apply for an FCA license, having hired a “number of ex-regulatory staff from the UK” and a “couple of hundred compliance people” since the FCA notice in June.
Lastly, Australian computer scientist Craig Wright prevailed in a Miami civil case that pitted him against the family of his late business partner and computer forensics expert, David Kleiman. We first shared this story here(https://t.me/decryptedge/828) At stake was half of both the 1.1 million bitcoin mined and held by Satoshi, a cache currently worth around $54 billion. Had Wright lost the case, he would have had to produce the Satoshi cache of coins in order to pay the estate. But Wright did say that he would prove his ownership were he to win at trial. He also promised to donate much of his bitcoin fortune to charity, were he to prove victorious.
Closing thoughts, this is still true: https://t.me/decryptedge/782
Not traditional #investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge #Blockchain #Research Images Courtesy.
Thoughts on the crypto market 07. 12. 2021
For most of Monday, Bitcoin continued to trade in the 47500-49500 range. In the evening, bitcoin managed to overcome the $50,000 level to reach$51,450 level. At the moment, its price is $51,070.
Market capitalization: $2.379 Trillion.
BTC Dominance Index: 40.6%
Fear / Greed Index: 25
The dollar Index: 96.24.
Despite the recent declining correlation, crypto has followed the stock indices and continued to recover across virtually the entire spectrum of the market.
The breakout of the 50,000 level is quite a positive signal. It now needs to hold above this mark, and then overcome the 53000 level for the development of a positive scenario. A fall below 50,000 will make the picture bearish again. A break of 46,500 would pave the way to recent lows around 42,000.
For today, expect trading in the range 49000-53000. Today it is possible to test its upper border of 53000, a confident breakthrough of which is still unlikely.
#Binance plans to get registered in the UK despite regulatory hurdles by 2023. To become a registered crypto asset firm in the U.K., the platform must abide by money laundering and terrorist financing controls. To meet these requirements, Zhao indicated the company was considering setting up a specific company to run in the U.K. — similar to its Binance.US subsidiary. Zhao told The Telegraph on Saturday that Binance plans to apply for an FCA license, having hired a “number of ex-regulatory staff from the UK” and a “couple of hundred compliance people” since the FCA notice in June.
Lastly, Australian computer scientist Craig Wright prevailed in a Miami civil case that pitted him against the family of his late business partner and computer forensics expert, David Kleiman. We first shared this story here(https://t.me/decryptedge/828) At stake was half of both the 1.1 million bitcoin mined and held by Satoshi, a cache currently worth around $54 billion. Had Wright lost the case, he would have had to produce the Satoshi cache of coins in order to pay the estate. But Wright did say that he would prove his ownership were he to win at trial. He also promised to donate much of his bitcoin fortune to charity, were he to prove victorious.
Closing thoughts, this is still true: https://t.me/decryptedge/782
Not traditional #investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge #Blockchain #Research Images Courtesy.
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KryptoEdge
$69 billion in Bitcoin is at the center of Miami crypto court fight as we expect New Highs For Bitcoin. Thoughts on the market 3.11. 2021
Bitcoin continued its growth and yesterday was in the range of 64200-6060o, at the time of writing this review, it…
Bitcoin continued its growth and yesterday was in the range of 64200-6060o, at the time of writing this review, it…
#India’s New Twist: #Crypto Bill Proposes ‘Arrest Without Warrant’: & would be “non bailable,” as Japan Moves to Impose New Regulations on #Stablecoin Issuers.
Tougher measures for crypto, including time in jail for those who violate the law, Thomson Reuters reported on Tuesday, and published on CoinDesk: citing an unidentified source and the summary of the draft bill. The government is planning a “general prohibition on all activities by any individual on mining, generating, holding, selling, (or) dealing” in #digitalcurrencies as a “medium of exchange, store of value and a unit of account,” This is the kind of #FUD that will rock price volatility in the short-medium term so take note.
Globally, almost the entire range of risky assets, including stock markets, crypto, oil, etc continued to grow steadily.
On Friday, the latest data on consumer inflation in America will be published, which means that today, at least tomorrow, the growth of risky assets will at least significantly slow down.
If the forecasted result of 6.8% is justified or exceeded across the entire spectrum of the market, a sell off will start again. Investors will begin to revise their portfolios in anticipation of the next harsh statements by Jerome Powell at the upcoming meeting of the Federal Committee on December 15. Ironically, the only factor that could significantly influence the tone of his softening rhetoric was Omicron. If the preliminary conclusions of the doctors about it turn out to be correct, the topic of the pandemic will quickly leave the agenda and the inevitable tightening of monetary policy will take its place.
More news, Japan Moves to Impose New Regulations on #stablecoins Issuers: In a report, the country is reportedly moving to introduce legislation in 2022 to limit the issuance of #stablecoins to banks and wire transfer companies. a report on #stablecoin that included recommendations to treat #stablecoin issuers like banks. Source CoinDesk
Lastly and on a good note #Blockchain project Spiral, a division of #JackDorsey's Block, will be improving Bitcoin's Lightning Network. #Bitcoin is already a store of value, and looks like a new emergence as a medium of exchange. Jack is truly committed to seeing #Bitcoin works, and as the Global Standard reserve currency! Watch the clip here titled: Spiral Presents: The Lightning Development Kit #LDK https://www.youtube.com/watch?v=oOT78Bgy1Qw
Market capitalization: $2.353 Trillion.
BTC Dominance Index: 40.5%
Fear / Greed Index: 28
The dollar Index: 96.16.
For today: Trading in the range of $50,000-53,000. A test of its lower boundary is possible today. The next support is 49000, followed by the key area 46500-47000. #cryptocurrency #india #law #currency #research
Tougher measures for crypto, including time in jail for those who violate the law, Thomson Reuters reported on Tuesday, and published on CoinDesk: citing an unidentified source and the summary of the draft bill. The government is planning a “general prohibition on all activities by any individual on mining, generating, holding, selling, (or) dealing” in #digitalcurrencies as a “medium of exchange, store of value and a unit of account,” This is the kind of #FUD that will rock price volatility in the short-medium term so take note.
Globally, almost the entire range of risky assets, including stock markets, crypto, oil, etc continued to grow steadily.
On Friday, the latest data on consumer inflation in America will be published, which means that today, at least tomorrow, the growth of risky assets will at least significantly slow down.
If the forecasted result of 6.8% is justified or exceeded across the entire spectrum of the market, a sell off will start again. Investors will begin to revise their portfolios in anticipation of the next harsh statements by Jerome Powell at the upcoming meeting of the Federal Committee on December 15. Ironically, the only factor that could significantly influence the tone of his softening rhetoric was Omicron. If the preliminary conclusions of the doctors about it turn out to be correct, the topic of the pandemic will quickly leave the agenda and the inevitable tightening of monetary policy will take its place.
More news, Japan Moves to Impose New Regulations on #stablecoins Issuers: In a report, the country is reportedly moving to introduce legislation in 2022 to limit the issuance of #stablecoins to banks and wire transfer companies. a report on #stablecoin that included recommendations to treat #stablecoin issuers like banks. Source CoinDesk
Lastly and on a good note #Blockchain project Spiral, a division of #JackDorsey's Block, will be improving Bitcoin's Lightning Network. #Bitcoin is already a store of value, and looks like a new emergence as a medium of exchange. Jack is truly committed to seeing #Bitcoin works, and as the Global Standard reserve currency! Watch the clip here titled: Spiral Presents: The Lightning Development Kit #LDK https://www.youtube.com/watch?v=oOT78Bgy1Qw
Market capitalization: $2.353 Trillion.
BTC Dominance Index: 40.5%
Fear / Greed Index: 28
The dollar Index: 96.16.
For today: Trading in the range of $50,000-53,000. A test of its lower boundary is possible today. The next support is 49000, followed by the key area 46500-47000. #cryptocurrency #india #law #currency #research
YouTube
Spiral Presents: The Lightning Development Kit
To learn more or get started with the Lightning Development Kit, visit https://lightningdevkit.org
VISA Launches a #Crypto Consulting Service, #Congress Holds a Crypto Hearing Session, as Biden Administration Unveils Plan Aimed at "Prosecuting the Criminal Use of Cryptocurrency."
Thoughts on the market 09.12.2021.
Yesterday, the level of 50,000 was broken through to reach $47,800. The fall nonetheless was quickly redeemed. We are now seeing a slight gradual decline again now trading at $49,750.
Bitcoin's sharp rebound coincided with the opening of trading in the American stock market, but there is hardly a correlation here, since there was no comparable enthusiasm in the latter.
The US Congress held hearings directly related to the crypto. Six leaders from the crypto industry were invited, Coinbase and FTX exchanges, the developers of Stellar, the management of the Circle startup, and others. They, like the congressmen, had to speak on the issues of cryptocurrency exchanges, stablecoins, digital asset regulation and federal regulatory actions. The most optimistic investors could pin some hopes on the positive attitude of the congressmen and their lack of desire to drive the industry into a strict regulatory framework.
Judging by the absence of sharp movements in the market after the completion of the hearings, this event did not have any immediate significant results, and could not have. The results will be new legislative initiatives from the Congressmen, which we will learn about later.
The breakout of the 50,000 level in both directions during the day reduced its technical value. Now the important levels are 49000 and 52000. The key ones are 46500 and 53500, and a breakout will be a signal for a further fall to 42000 or an increase to 59000, respectively.
Crypto Market capitalization: $2.35 Trillion.
BTC Dominance Index: 39.8%
Fear / Greed Index: 29
The dollar index: 96.01.
For today, trading in the range of 49000-52000. With Friday approaching and the latest US inflation data, the downward trend will prevail.
Interestingly, Visa launched a cryptocurrency consulting service for institutional clients. The crypto advisory practice, housed within its consulting and analytics division, will offer advice to financial institutions, retailers and other firms on everything from rolling out crypto features and exploring non-fungible tokens to developing wallets for central bank digital currencies. Source: cointelegraph.
The Biden administration has unveiled a plan aimed at "prosecuting the criminal use of cryptocurrency." Moves similar to India, It includes utilizing the government’s newly established task force, the National Cryptocurrency Enforcement Team, to focus on “complex investigations and prosecutions of criminal misuses of cryptocurrency.” A 38-page report outlines the U.S. government’s strategy to fight corruption globally. DOJ will utilize a newly established task force, the National Cryptocurrency Enforcement Team, to focus specifically on complex investigations and prosecutions of criminal misuses of cryptocurrency. Source : news.bitcoin
Huobi will completely exit the Chinese market by the end of December. Several cryptocurrency exchanges are slated to exit the Chinese mainland market by the end of the year as China rolled out its most detailed regulations on banning cryptocurrency transactions and mining three months ago. Other exchanges include: Binance and KuCoin.
Thoughts on the market 09.12.2021.
Yesterday, the level of 50,000 was broken through to reach $47,800. The fall nonetheless was quickly redeemed. We are now seeing a slight gradual decline again now trading at $49,750.
Bitcoin's sharp rebound coincided with the opening of trading in the American stock market, but there is hardly a correlation here, since there was no comparable enthusiasm in the latter.
The US Congress held hearings directly related to the crypto. Six leaders from the crypto industry were invited, Coinbase and FTX exchanges, the developers of Stellar, the management of the Circle startup, and others. They, like the congressmen, had to speak on the issues of cryptocurrency exchanges, stablecoins, digital asset regulation and federal regulatory actions. The most optimistic investors could pin some hopes on the positive attitude of the congressmen and their lack of desire to drive the industry into a strict regulatory framework.
Judging by the absence of sharp movements in the market after the completion of the hearings, this event did not have any immediate significant results, and could not have. The results will be new legislative initiatives from the Congressmen, which we will learn about later.
The breakout of the 50,000 level in both directions during the day reduced its technical value. Now the important levels are 49000 and 52000. The key ones are 46500 and 53500, and a breakout will be a signal for a further fall to 42000 or an increase to 59000, respectively.
Crypto Market capitalization: $2.35 Trillion.
BTC Dominance Index: 39.8%
Fear / Greed Index: 29
The dollar index: 96.01.
For today, trading in the range of 49000-52000. With Friday approaching and the latest US inflation data, the downward trend will prevail.
Interestingly, Visa launched a cryptocurrency consulting service for institutional clients. The crypto advisory practice, housed within its consulting and analytics division, will offer advice to financial institutions, retailers and other firms on everything from rolling out crypto features and exploring non-fungible tokens to developing wallets for central bank digital currencies. Source: cointelegraph.
The Biden administration has unveiled a plan aimed at "prosecuting the criminal use of cryptocurrency." Moves similar to India, It includes utilizing the government’s newly established task force, the National Cryptocurrency Enforcement Team, to focus on “complex investigations and prosecutions of criminal misuses of cryptocurrency.” A 38-page report outlines the U.S. government’s strategy to fight corruption globally. DOJ will utilize a newly established task force, the National Cryptocurrency Enforcement Team, to focus specifically on complex investigations and prosecutions of criminal misuses of cryptocurrency. Source : news.bitcoin
Huobi will completely exit the Chinese market by the end of December. Several cryptocurrency exchanges are slated to exit the Chinese mainland market by the end of the year as China rolled out its most detailed regulations on banning cryptocurrency transactions and mining three months ago. Other exchanges include: Binance and KuCoin.