Russian Central Bank to Seek Ban on Investment In #Cryptocurrencies as US Senators Ready to Write Clarifying Legislation to Maintain U.S. Leadership in Crypto.

Thoughts on the market 17.12. 2021

On Thursday, Bitcoin traded in a narrow range of $48200- $49500. It was not possible to gain a foothold above $50,000 again. This led to the resumption of a sell off, quotes are now around $47800.

Unfortunately, the wave of enthusiasm after the meeting of the Federal Committee on Wednesday was not enough to immediately break the technical picture of a breakthrough above 51,000. Cheap money will soon run out, and the US interest rate will rise, and that's a fact.

Many market participants were positive about Jerome Powell's statement that cryptocurrencies do not yet pose a threat to the traditional financial system and that stablecoins can be effective if they are properly regulated. The negative point was the chiseled diagram, in which the members of the Committee noted their forecasts regarding the level of the discount rate for future periods. It turned out that in the long term, most of them see the rate at 2.5%, which is significantly higher than the projected 1.5-1.75%.

An unpleasant surprise was thrown by the Bank of England yesterday, unexpectedly raising the interest rate from 0.1 to 0.25%. In addition, today the expiration of options is to be expected and sellers should preferably keep the bitcoin rate below the 48000 level by the time of its occurrence. For months overview refer to here: https://t.me/decryptedge/860

To reverse the trend and resume growth, the absence of unpleasant surprises is not enough yet; additional incentives are needed. For today, another failure at around 49500 disappointed market participants. Apparently, new testing of the lower levels in the region of 46500-47000 is expected. This area has withstood more than one onslaught and a new attempt can also be quickly bought off. Nonetheless poses a significant risk, as once broken, fireworks will ensure.

Market capitalization: $2.22 Trillion.
Dominance Index: 40.8%
Fear / Greed Index: 23
The dollar index: 95.92.

The Bank of Russia plans to ban investments in cryptocurrencies due to the risks of financial stability. Russia has argued for years against cryptocurrencies, saying they could be used in money laundering or to finance terrorism. It eventually gave them legal status in 2020 but banned their use as a means of payment. The central bank is now in talks with market players and experts about a possible ban. If approved by lawmakers, it could apply to new purchases of crypto assets but not to those bought in the past, said one of the financial market sources, who requested anonymity due to the sensitivity of the matter.
Source. Reuters.com. My question is why now! Lastly, Six US Senators urged the Treasury to clarify the status of crypto brokers. The senators are trying to strike a balance in regulating a vast and growing marketplace of virtual currencies and are asking Treasury Secretary Janet Yellen to soothe investor worries that implementation of a law requiring transaction facilitators to report information to ensure appropriate tax collection will drive innovators away. Source. Nextgov.com.

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

DeFi & Hackings & 4 Ways to Protect Yourself From Common Crypto Scams.
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Reserve Bank of India(RBI) Supports a Full Ban on #Cryptocurrencies in #India as #Japan’s Financial Services Company SBI Group Launches Diversified Crypto Fund.

Thoughts on the market 20.12. 2021

After setting a minimum of $45500, Bitcoin spent the weekend in a smooth recovery and managed to reach 48300 on Sunday. However, a correction began again from there, and the first cryptocurrency quickly returned to $47000 level. Quotes are now around $46400.

Market capitalization: $2.197 Trillion.
Dominance Index: 40.4%
Fear / Greed Index: 25
The dollar index; 96.60.

The upcoming holiday week will be poor in important news, therefore, the dynamics of Bitcoin and other cryptocurrencies will be determined mainly by technical factors. With the approach of Christmas, trading volumes will decline, increasing the risk of sharp price movements.

The correction did not receive its development over the weekend and the demand area of ​​42000-46000 was able to withstand another onslaught. With the return of liquidity to the market, one can expect further attempts to break below, but the volume of buying interest in this zone is still high. Technically, this area solidifies with every failure.

For today: Trading in the range 45500-49500, with a possible test of the lower border and a deep to 43000-44000. If there is no correction and a fall below 45500 can be avoided, the main cryptocurrency will test the upper border of this range for strength.

To some news, the largest financial company in Tokyo SBI Group has launched a cryptocurrency fund for Japanese investors. crypto asset fund that consists of seven different digital currencies. The crypto fund launched by the Japanese company includes bitcoin, ethereum, xrp, litecoin, bitcoin cash, chainlink, and polkadot. The financial services company is calling it “Japan’s first cryptocurrency fund for general investors.” Japanese investors need to “fully understand the nature of crypto assets and risks related to investment in crypto assets,” the press release explains.

The Reserve Bank of India is in favor of a total ban on cryptocurrencies, Economic Times of India writes. The news comes from anonymous sources familiar with the bank’s deliberations.
The RBI made a presentation to its board recently in which it said it had “serious concerns” as to the stability and exchange management of cryptos. In addition, the bank also highlighted the difficulties of putting regulations on intangible currencies which did not even originate in the country. “Cryptocurrencies are a serious concern to RBI from a macroeconomic and financial stability standpoint,” RBI governor Shaktikanta Das has said previously. “As the central banker, we have serious concerns about it and we have flagged it many times.”

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.

DeFi Platform Grim Finance Hacked, Lost $30 Million in Crypto as Pro-Crypto SEC Commissioner to Step Down in January 2022. & Dubai World Trade Centre to Create New CryptoHub and Become Regulator.

As I expected, on Monday, Bitcoin continued its attempts to break below the recent low of 45500, which again proved to be unsuccessful. The last correction was quickly redeemed, sending Bitcoin back to the level of 48880, where price is hovering at the time of this writing.

Contrary to the emerging trend of a tightening monetary policy in the United States and Great Britain on Monday morning, the People's Bank of China unexpectedly cut its interest rate from 3.85% to 3.80%. The market has not reacted in any way to this event, but if you think a little, this very insignificant cut of a rather high discount rate looks like a nervous preemptive response to the impending crisis in the construction sector of the Chinese economy. From this point of view, this fact is quite indicative. Let me remind you that recently the largest Chinese construction holding Evergrande missed the payment for servicing its $310 billion debt, after which its credit rating was downgraded to "junk", and the share price fell by more than 80%. The government is still trying to save the situation, however, in the event of a negative development of events, the consequences will eventually overtake not only the Chinese economy, which, in turn, can make adjustments to the process of raising interest rates.

In the meantime, the technical picture of bitcoin has improved somewhat. The good news is that sellers fail to set a new low and their resolve is running out. Liquidity in the market continues to fall on the eve of Christmas, which makes it possible for large players to push the market in one direction or the other, all depending on fundamental factors. The situation is becoming poorly predictable, which is why it is advisable to refrain from active trading action for the time being.

For today, trading in the range of $45500-50,000. Strong technical levels of 49500 and 51000 lie in the way of Bitcoin recovery. The short-term prospects of the first cryptocurrency will depend on their overcoming. Another failure will bring the price back down. A breakout of the 42000 level will trigger the stops and fall into the 38500-40000 area. Growth will be limited to the area of ​​47500-48500.

Market capitalization: $ 2.25 Trillion.
Dominance Index: 40.8%
Fear / Greed Index: 27
The dollar index: 96.49.

Interestingly, another crypto heist, DeFi-platform Grim Finance leaked $30 million to hackers. The platform fell victim to a cyberattack, on Sunday, the Yield compounding tool had $30 million worth of fantom tokens siphoned off, “The attackers' address has been identified with over 30 million dollars worth of theft here,” Grim Finance developers tweeted on Sunday morning. “The exploit was found in the vault contract so all of the vaults and deposited funds are currently at risk.” It is not going to be the last. Just this weekend we talked about this.


Dubai World Trade Center will create a new crypto hub and become a digital asset regulator. The United Arab Emirates (UAE) continues to emerge as one of the world’s biggest cryptocurrency-friendly jurisdictions as the government of Dubai has a new initiative to support local crypto development and regulation. “The World Trade Center will deliver and oversee a new world-class regulatory framework of Virtual Asset legislative and enforcement policies,” the statement reads. Binance CEO Changpeng Zhao was among the first people in the crypto community to celebrate the new announcement from the DWTC. Zhao has apparently been growing interested in the crypto ecosystem in the UAE as he reportedly bought his first home in Dubai in October. Source; Cointelegraph.

The crypto-industry-positive SEC member will step down in January 2022. Elad Roisman, a Republican member of the Securities and Exchange Commission, has announced that he is going to leave the agency by the end of next month. Earlier this December, Roisman and "Crypto Mom" Hester Peirce issued a joint statement in which they criticized Chair Gary Gensler's agenda. While describing it as "ambitious," the two Republicans took issue with its content. The statement touched upon Gensler's approach to crypto regulations, claiming that the SEC head had failed to formulate clear rules that would allow investors and regulated entities to safely interact with cryptocurrencies, including the ones that are designated securities. In July, Roisman and Peirce publicly opposed enforcement action against crypto firm Blotics. Their dissent was used by Ripple attorney Michael Kellogg to make an argument about the lack of clarity.

Roisman's upcoming departure means that Peirce will be the only sitting Republican SEC commissioner.

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.

#Binance to Help Dubai World Trade Centre establish a #Crypto #Regulatory Framework as Secret #Bitcoin Miners in #China at approx 20% of Global #Hashrate

Thoughts on the market 22. 12. 2021

On Tuesday, bitcoin managed to develop an upward movement, however, growth was once again limited by the level of 49500, which again could not be overcome. Today, it has managed to reach the level of 49600, but it is still not able to gain a foothold higher.

The dollar weakened practically across the entire spectrum of the market amid a return to risk appetite among investors. Part of the reason for this was Erdogan's recent announcement of his readiness to take the most effective measures to strengthen the Turkish lira and protect its investment attractiveness. This led to an increase in the lira exchange rate from 19 to 11 lira per dollar and added confidence and positive sentiment to market participants, which was reflected in the dynamics of cryptocurrencies.

However, practice shows that such regional news is not able to reverse global trends and the fuse from them is not enough for a long time. At the same time, in a thin pre-holiday market, they can serve as a good reason to start a strong movement. In this regard, it is advisable for bitcoin to quickly overcome the levels of 49500 and 51000, which will change the medium-term technical picture, inspire buyers and involve a wider range of players in the movement. Otherwise, a return to the 45500-47500 range will be highly probable.

Market capitalization: $2.28 Trillion.
Dominance Index: 40.6%
Fear / Greed Index: 45
The dollar index: 96.56.

For today: Trading in the range 47500-50000 with a possible breakout of the upper border. A break below 47500 will return a test of key support at 45500 to the agenda.

Clandestine mining in China accounts for 20% of BTC hashrate according to CNBC. In a recently detailed data from Chinese cybersecurity firm Qihoo 360, published in November, which points to an average of 109,000 active crypto mining IP addresses in China every day. Qihoo 360 says the majority of these addresses are centered in Guangdong, Shandong, Zhejiang, and Jiangsu. If true, the data would undermine earlier estimates from Cambridge University’s Bitcoin Electricity Consumption Index (BECI), which indicated Bitcoin hashrate in China effectively went to zero between May and July.

#Binance has joined the new #cryptohub of the Dubai World Trade Center. Crypto exchange Binance announced Tuesday that it has signed a memorandum of understanding with the Dubai World Trade Centre authority to help it establish a crypto regulatory framework. Binance said it will share its experience in collaborating with global regulators with the authority to aid the development of "progressive" crypto regulations. Binance's partnership with the centre comes amid reports that the exchange is planning to set up headquarters in the UAE. Binance has reportedly been in talks with officials from special economic zones Abu Dhabi Global Market (ADGM), Dubai International Financial Centre (DIFC), and Dubai Multi Commodities Centre in that regard. Binance CEO also recently bought his first home in Dubai. "The government there is very progressive, and it's a very good business environment," Zhao said in a media interview.

Lastly, a dormant bitcoin wallet with 321 BTC was activated eight years later. For one reason or another, the wallet has not transacted for years despite having what is considered life-changing money. The wallet had not been used since 2013, barely a few years after the mysterious Bitcoin creator Satoshi Nakamoto disappeared. The wallet currently contains $15 million worth of BTC, and it’s unclear who owns this account or why it was reactivated on Tuesday. After eight years, the value of this amount has increased from $6,594 to a staggering $15,103,046. By now, the funds in the wallet had appreciated almost 2,300 times.

What are your thoughts on such an activation?

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.

Jack Dorsey and Elon Musk Raise Concerns Over Web3 as Skepticism About Ownership Grows.

So is it yet another new buzzword that has got the internet excited, but what exactly is Web3?
At a basic level, the idea behind Web3 is to take the world wide web as we know it and add blockchains – the technology behind cryptocurrencies like bitcoin – to everything. Web3 sets its own typographic trend by ditching the “.0” and a space, and will allow the best of both worlds, say its supporters: easy-to-use, decentralised tools.
What does it actually involve? At the core of Web3 are distributed applications (or dapps) built using the Ethereum blockchain, which pays out to users who help keep its network online.
At the end of this is an interaction between Elon and Jack..you learn so much when you see experts expressing opinions..

In the meantime Bitcoin spent Wednesday in a narrow range of $48,400- $49,600. Attempts to break higher have been unsuccessful so far. Quotes are now around $48,600.

Market capitalization: $2.27 Trillion.
Dominance Index: 40.3%
Fear / Greed Index: 34
The dollar index: 96.02.

Wednesday did not bring any important news, and liquidity in the market continued to decline in anticipation of the upcoming holidays. The trading took place in a very narrow range and, it seems, no one wants to take active action anymore. Today is perhaps the last day from which one can expect some trading volumes and chances of a break above 49600 and 51000. Tomorrow many recent buyers may take profits, which will bring Bitcoin back into the 47000-48500 range.

On the other hand, during the holidays in the thin market, strong movements can occur in any direction and it is possible to build any reasonable expectations only by the location of orders at the moment. A break above the 51,000 level is needed for the upward movement to develop, which will lead to an increase to 53,500. The volume of buy interest in the 42000-45500 range has narrowed slightly, but it is still sufficient to contain large sellers. For today: Trading in the range of $48,000-50000 with a possible correction to $47,000.


Here is the exchange between, former Twitter CEO Jack Dorsey debate about #web3 after Tesla CEO Elon Musk criticized it. Dorsey warned of the risks from centralization, emphasizing that web3 is owned by venture capitalists (VCs), hiding under the premise of decentralization. “I’m concerned to see ‘the industry’ be distracted under false pretenses when we could all be working on things that have a chance at fixing the real issues,” Dorsey wrote. “You don’t own ‘web3.’ The VCs and their LPs do. It will never escape their incentives. It’s ultimately a centralized entity with a different label.
Know what you’re getting into.” His comment followed Musk’s tweet a day prior stating that web3 “seems more marketing buzzword than reality right now.” The Tesla boss further tweeted, asking: “Has anyone seen web3? I can’t find it.” Dorsey replied: “It’s somewhere between a and z.”

Dorsey explained in a different tweet: “I’m concerned to see ‘the industry’ be distracted under false pretenses when we could all be working on things that have a chance at fixing the real issues.” He emphasized that “The VCs are the problem,” and “not the people.” Ajit Tripathi, CFA and head of institutional business at Aave, commented: Jack is pointing out a risk we should acknowledge. It may not be what we want to hear but the risk of economic centralization of prime web3 properties is very real. Dorsey responded with “Exactly.” According to Dorsey, he was subsequently blocked on Twitter by Marc Andreessen, co-founder of Andreessen Horowitz, who is now a huge investor in web3 startups. The former Twitter boss wrote: I’m officially banned from web3.

Some people are sceptical about the Web3 utopia. “Web3 is introducing friction, without solving any real problem,” says Ten Oever. A lot of the claims behind Web3 – such as distributed architecture and decentralisation – are better achieved without blockchains, sceptics reckon.
“If you build a distributed architecture on a centralised infrastructure, you are not suddenly decentralising the infrastructure,” says Ten Oever. While web infrastructure is nominally decentralised, in practice much of the internet runs on servers hosted by a handful of companies, such as Amazon – and the same is happening with Web3, he says, as people run dapps hosted by just a few providers.

So are the sceptics correct?

The kinks have yet to be ironed out of Web3’s promise, and the word has been latched onto by those trying to make a quick buck. Even its boosters, like Scaman, have warned of scams and pump and dump schemes allied to the word. “There will always be people trying to make a buck,” she says, “but there are also incredibly talented people building amazing things. Source: Chris Stokel-Walker; newscientist.com

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.

Uniswap is Launches on the Polygon Blockchain and Russia now Requests Data on Clients of Bitcoin Exchange Coinbase.

Thoughts on the market 24.12.2021

Bitcoin spent last pre-holiday day in a narrow range of $48,200-$49,200. Then the New Year rally started in the late afternoon. It overcame the levels of $49,600 and $51,000, reaching a maximum at around 51500.

Market capitalization: $2.38 Trillion.
Dominance Index: 40.5%
Fear / Greed Index: 41
The dollar index: 96.03.

The last trading day on traditional financial platforms passed quite calmly without significant volatility, which cannot be said about the crypto. The growth began against the background of low liquidity, which dropped to the lowest level in the last 31 months on the exchanges.

Bitcoin's technical picture has improved significantly. Levels of $52000 and $53,500 remain on the way of the upward movement. Support is found at 49600, 47500 and 45500.

For today, trading in the range $49500-52000. In a thin market, sharp movements in any direction are possible and the probability of a breakout of one of the range boundaries cannot be discounted. Market participants are already resting, and for the next three days the volumes will be extremely low. Trading is now associated with increased risks, and therefore, engaging in pre-holiday preparations does not seem to be the worst decision at the moment.

Interesting: Uniswap is launched on the Polygon blockchain an Ethereum-focused scaling platform. Last month, Polygon co-founder Mihailo Bjelic submitted a proposal on the Uniswap governance portal to deploy Uniswap v3 on Polygon. The Uniswap community then voted to accept the proposal last week. More than 72 million Uniswap (UNI) token holders supported the move, and as a result, Uniswap is now live on Polygon. In other words, Uniswap users can now swap tokens using the Polygon blockchain via Uniswap's official interface. Uniswap is the largest decentralized exchange in the market, having facilitated over $600 billion in trading volumes on its v2 and v3 platforms this year to date (over $300 billion on each platform), according to The Block Research.

Russia has requested Coinbase customer data for the first time. In 2021, the largest American cryptocurrency exchange Coinbase received five requests for disclosure of information about users from government and law enforcement agencies of the Russian Federation. This is stated in service transparency report covering the period from January 1 to September 30. This is the third such report, but the first two did not include Russia. There is no detailed information on the content of the requests.


Coinbase clarified that requests from law enforcement and government agencies generally relate to information about customer accounts and financial statements in connection with civil, criminal or other investigations.
“These requests may include subpoenas, court orders, search warrants, or other forms of formal legal process. We are required to respond to such requests if they are valid in accordance with financial regulations and other applicable laws, ”Coinbase said.
Recall that in June, Binance CEO Changpeng Zhao said that since the beginning of the year, the exchange has responded to 5600 requests from law enforcement agencies. Compared to 2020, this figure has doubled.

These are the telltale signs of regulations taking shape. 2022 can only get more amplified. Russian citizens have invested more than $67 billion in crypto — will likely still be able to invest in digital assets using foreign exchanges. Ultimately, with regulations, countries banning crypto have questionable fiat currencies of their own, and their national banks want to make sure as many transactions as possible are made with their own currencies. So, if anything, the fact that entire countries are terrified of crypto adoption means the decentralized financial economy is already here and will only grow stronger in 2022.

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

UAE Imposes Jail Time for Crypto Scam Promoters, Glad tidings for an orange Christmas, “Santa Rally”?

Thoughts on the market 26.12.2021

Bitcoin spent the Christmas eve of Friday in a narrow range of 50400-51870, with the same range spilling over to Christmas Day. Early this morning today it has tagged a low of $49,644.

Market capitalization: $2.36 Trillion.
Dominance index 40.7%.
Fear / Greed Index 39.

American stock indices, like all traditional markets, did not work yesterday. But It looks like market participants have finally remembered about the holidays and postponed active actions until better times. Trading volumes remain at their minimum values.

According to CryptoQuant data, the Exchange Whale Ratio indicator has reached its highest value in the last year. For what purpose the whales have increased the flow of funds to the exchanges in recent years, one can only guess, but one way or another, the dynamics of the pair in the next two days off will be determined by them.

The technical picture of the cue ball has not changed yet. A break above 52000 will open the way to key resistance level 53500. A return below 49600 will neutralize upward momentum and bring 47500 and 45500 levels back to the agenda. For today, trading in the range of 50,000-52,000 with a possible test of the upper border.

Interestingly, The UAE has imposed a prison sentence for advertising fraudulent crypto projects. Promoters of cryptocurrency scams will face up to five years in jail starting from January, according to a report by The National. They could also be slapped with fines of up to 1 million dirhams ($272,261). The move is meant to promote online safety after the cryptocurrency experienced massive growth this year, thus becoming an attractive destination for bad actors who are eager to exploit retailer investors.

In glad tidings for an orange Christmas, Bitcoin (BTC) supply is drying up to lows not seen for years. In a recent tweet by CryptoRank, just 6.3% of the total Bitcoin supply, or 1.3 million BTC, is held on cryptocurrency exchanges. Crypto exchanges hold only 6.3% of the total supply of bitcoins. Despite calls for a “Santa Rally” off the back of bullish analytics, the bears are not yet out of the woods. A tweet by BullRun Invest using Glassnode data shows that 24.6% of all BTC supply is sitting above the price of $47,000. It suggests that roughly a quarter of the BTC bought at those price levels are currently underwater.

We don’t have much data on the Santa Claus rally for Bitcoin, especially on how holiday seasons and festivals impact the digital token. But, if average trading sizes are rising as prices fall during a holiday season, then that indicates that institutional investors and large holders are unloading the crypto. On the other hand, if the averages are also rising during a rally, that could signal larger buys. So if BTC fails to make progress into the 50s, there may be fewer presents under the tree today.

"Peace, good will, and happiness to you at Christmas and always." from #Decryptedge... Happy Holidays. Remember you must always do your own research. This is not traditional investment or financial advice.