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.
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.
“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.
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.
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.
Turkish President Erdogan Says Cryptocurrency Law Is Ready as Crypto Regulator Fines Binance 8 Million Lira. Telegram Malware #Masad Steals Crypto Wallet Data and Modifies Addresses.
Thoughts on the market 27.12. 2021
Bitcoin spent Saturday in a narrow range of 50200-51200, and on Sunday began a smooth decline to the former resistance level of 49500. It was not possible to consolidate below and the cue ball was quickly brought back to $50,400. At the moment, quotes are around $51,000.
Market capitalization at the moment is $ 2399 billion.
Dominance index 40.2%.
Fear / Greed Index 40.
The dollar index: 96.13.
Despite the fact that this week is considered to be a working one, the liquidity in the market will remain extremely low. The only relatively significant news may be the release of the December index of business activity in China. Considering the extremely tense situation in the construction sector in the Middle Kingdom after the technical bankruptcy of the giant developer #Evergrande, this figure may give an unpleasant surprise, which will negatively affect the market. However, its publication is scheduled almost before the New Year, on the night from Thursday to Friday, in connection with which the reaction to it may be somewhat belated and fully manifest only after the bulk of traders return to their monitors.
According to Coinglass, the decline of Bitcoin on Sunday may be associated with the emergence of a new major player on the Binance exchange. It coincided with an increase in funds on the exchange's wallets by more than 60,000 BTC over the past 4 days. This information may serve as another warning that the thin market in the coming days will remain entirely at the mercy of the whales and move in a direction consistent with their understanding of expediency.
For today, trading in the range 49500-52000. Both upper and lower bound tests are possible. False breakouts are not excluded.
Interestingly, yesterday, the Turkish authorities fined the local branch of Binance crypto exchange as the President announced the readiness of a draft law on cryptocurrencies. The fine imposed on BN Teknoloji was the first of its kind after the authority took on responsibilities to oversee crypto asset service providers in May. Binance Turkey subsequently issued a statement emphasizing that it “openly” communicates and cooperates with regulatory and supervisory authorities. The exchange added that it “actively follows the changing policies, rules, and laws in this new field.” Furthermore, Binance Turkey said it strives to “create a sustainable, healthy, and safe ecosystem.”
In September, President Erdoğan said that Turkey is “at war” with cryptocurrency. Moreover, Binali Yıldırım, deputy chairman of the Justice and Development Party (AK Party), said: “Unfortunately, cryptocurrency also opens the door to grievances. So, it’s something that needs serious control.” In May, Turkey published some rules for crypto trading platforms in the official gazette after a couple of cryptocurrency exchanges — Thodex and Vebitcoin — were investigated for fraud.(https://t.me/decryptedge/476) The Turkish central bank has also banned the use of cryptocurrencies for payments.
Lastly, SafeGuard has discovered a virus in Telegram, the victims of which are cryptocurrency holders. For detailed info and how to safeguard yourself: https://www.coolwallet.io/telegram-malware-masad-steals-crypto-wallet-data-and-modifies-addresses/
Have a blessed safe week ahead. Remember you must do your own research; this is not traditional investment of financial advice. #decryptedge
Thoughts on the market 27.12. 2021
Bitcoin spent Saturday in a narrow range of 50200-51200, and on Sunday began a smooth decline to the former resistance level of 49500. It was not possible to consolidate below and the cue ball was quickly brought back to $50,400. At the moment, quotes are around $51,000.
Market capitalization at the moment is $ 2399 billion.
Dominance index 40.2%.
Fear / Greed Index 40.
The dollar index: 96.13.
Despite the fact that this week is considered to be a working one, the liquidity in the market will remain extremely low. The only relatively significant news may be the release of the December index of business activity in China. Considering the extremely tense situation in the construction sector in the Middle Kingdom after the technical bankruptcy of the giant developer #Evergrande, this figure may give an unpleasant surprise, which will negatively affect the market. However, its publication is scheduled almost before the New Year, on the night from Thursday to Friday, in connection with which the reaction to it may be somewhat belated and fully manifest only after the bulk of traders return to their monitors.
According to Coinglass, the decline of Bitcoin on Sunday may be associated with the emergence of a new major player on the Binance exchange. It coincided with an increase in funds on the exchange's wallets by more than 60,000 BTC over the past 4 days. This information may serve as another warning that the thin market in the coming days will remain entirely at the mercy of the whales and move in a direction consistent with their understanding of expediency.
For today, trading in the range 49500-52000. Both upper and lower bound tests are possible. False breakouts are not excluded.
Interestingly, yesterday, the Turkish authorities fined the local branch of Binance crypto exchange as the President announced the readiness of a draft law on cryptocurrencies. The fine imposed on BN Teknoloji was the first of its kind after the authority took on responsibilities to oversee crypto asset service providers in May. Binance Turkey subsequently issued a statement emphasizing that it “openly” communicates and cooperates with regulatory and supervisory authorities. The exchange added that it “actively follows the changing policies, rules, and laws in this new field.” Furthermore, Binance Turkey said it strives to “create a sustainable, healthy, and safe ecosystem.”
In September, President Erdoğan said that Turkey is “at war” with cryptocurrency. Moreover, Binali Yıldırım, deputy chairman of the Justice and Development Party (AK Party), said: “Unfortunately, cryptocurrency also opens the door to grievances. So, it’s something that needs serious control.” In May, Turkey published some rules for crypto trading platforms in the official gazette after a couple of cryptocurrency exchanges — Thodex and Vebitcoin — were investigated for fraud.(https://t.me/decryptedge/476) The Turkish central bank has also banned the use of cryptocurrencies for payments.
Lastly, SafeGuard has discovered a virus in Telegram, the victims of which are cryptocurrency holders. For detailed info and how to safeguard yourself: https://www.coolwallet.io/telegram-malware-masad-steals-crypto-wallet-data-and-modifies-addresses/
Have a blessed safe week ahead. Remember you must do your own research; this is not traditional investment of financial advice. #decryptedge
Telegram
KryptoEdge
#Binance #Cryptocurrency exchange to list tokenized shares of #Microstrategy, #Apple and #Microsoft, as demand for #cryptocurrencies exceeded PayPal's expectations. Thoughts on the market on 27.04.2021.
#Bitcoin tried to gain a foothold above $54000 several…
#Bitcoin tried to gain a foothold above $54000 several…
Winter is Coming: Iran Temporary Halts Local #Bitcoin Mining to Prevent Electricity Blackouts as Mexican Billionaire Says Invest in It!
Thoughts on the market 28.12.2021
As early indicated, thin markets with low volumes are dangerous for false breakouts. Bitcoin opened the last week of the outgoing year with growth. However, the dynamics turned sharply and a rapid correction ensured. Even the strong support area 49600-50000 did not hold, Bitcoin dropped to 48700.
Market capitalization: $ 2.31 Trillion.
BTC Dominance Index :40.2%.
Fear / Greed Index: 41.
The dollar index dropped to 96.08.
For almost the entire Monday, the dollar was falling across the entire spectrum of the market, with the exception of the European currency. Crypto did not fail to take advantage of his weakness, which allowed Bitcoin and the alt-coins to demonstrate confident growth. In the last review, I wrote about the large flow of funds on the Binance exchange and the emergence of a new player. Now it becomes clear that the goal was to organize a bullish trap in a thin market with a false breakout of the 52000 level. The fall in the rate by almost $ 3500 allowed this whale to enter the cash well. As a result, the upward impulse has been lost, the area of 51500-52000 remains unbroken, support in the area of 49600-50000 is broken.
On pre-holiday days with low liquidity in the market, the dynamics can reverse at any time and the buyback can begin as quickly as the fall. For today: Trading in the range of 47500-50000. Despite the working days, liquidity in the market remains rather low, and trading during this period carries increased risks.
Interestingly, Iran now stops Bitcoin mining. Amid Iran’s energy consumption increasing during the winter, local energy authorities have decided to halt operations of authorised cryptocurrency mining centres. Iran is one of the world’s biggest crypto mining countries, accounting for an estimated 4.5%–7% of the global Bitcoin hash rate. The country had previously put a temporary blanket ban on crypto mining in the summer, citing historically peak periods for power demand due to hot temperatures. The ban was subsequently lifted in September as the Iranian power grid became more stable.
Binance has received a license from the Central Bank of Bahrain. The exchange nonetheless needs to complete verification to gain a full license, across the globe, Mexican billionaire urges investors to consider bitcoin. Ricardo Salinas Pliego, Earlier this year, the Mexican billionaire announced his plan to increase the adoption of BTC in the country.(https://t.me/decryptedge/76) In a response to Michael Saylor’s statement about Bitcoin holding, Salinas said that his bank is working on the possibility of accepting BTC in Mexico. “If you are hoping to preserve your wealth for a generation, Ricardo Salinas suggests you invest in BTC. The strategy is simple, choose the highest quality asset you can find and hold,” Saylor said. “Sure, I recommend the use of Bitcoin, and me and my bank are working to be the first bank in Mexico to accept Bitcoin, if you need more details or information follow me on my Twitter account,” Salinas responded.
As always wishing you a blessed day ahead, and remember this is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Thoughts on the market 28.12.2021
As early indicated, thin markets with low volumes are dangerous for false breakouts. Bitcoin opened the last week of the outgoing year with growth. However, the dynamics turned sharply and a rapid correction ensured. Even the strong support area 49600-50000 did not hold, Bitcoin dropped to 48700.
Market capitalization: $ 2.31 Trillion.
BTC Dominance Index :40.2%.
Fear / Greed Index: 41.
The dollar index dropped to 96.08.
For almost the entire Monday, the dollar was falling across the entire spectrum of the market, with the exception of the European currency. Crypto did not fail to take advantage of his weakness, which allowed Bitcoin and the alt-coins to demonstrate confident growth. In the last review, I wrote about the large flow of funds on the Binance exchange and the emergence of a new player. Now it becomes clear that the goal was to organize a bullish trap in a thin market with a false breakout of the 52000 level. The fall in the rate by almost $ 3500 allowed this whale to enter the cash well. As a result, the upward impulse has been lost, the area of 51500-52000 remains unbroken, support in the area of 49600-50000 is broken.
On pre-holiday days with low liquidity in the market, the dynamics can reverse at any time and the buyback can begin as quickly as the fall. For today: Trading in the range of 47500-50000. Despite the working days, liquidity in the market remains rather low, and trading during this period carries increased risks.
Interestingly, Iran now stops Bitcoin mining. Amid Iran’s energy consumption increasing during the winter, local energy authorities have decided to halt operations of authorised cryptocurrency mining centres. Iran is one of the world’s biggest crypto mining countries, accounting for an estimated 4.5%–7% of the global Bitcoin hash rate. The country had previously put a temporary blanket ban on crypto mining in the summer, citing historically peak periods for power demand due to hot temperatures. The ban was subsequently lifted in September as the Iranian power grid became more stable.
Binance has received a license from the Central Bank of Bahrain. The exchange nonetheless needs to complete verification to gain a full license, across the globe, Mexican billionaire urges investors to consider bitcoin. Ricardo Salinas Pliego, Earlier this year, the Mexican billionaire announced his plan to increase the adoption of BTC in the country.(https://t.me/decryptedge/76) In a response to Michael Saylor’s statement about Bitcoin holding, Salinas said that his bank is working on the possibility of accepting BTC in Mexico. “If you are hoping to preserve your wealth for a generation, Ricardo Salinas suggests you invest in BTC. The strategy is simple, choose the highest quality asset you can find and hold,” Saylor said. “Sure, I recommend the use of Bitcoin, and me and my bank are working to be the first bank in Mexico to accept Bitcoin, if you need more details or information follow me on my Twitter account,” Salinas responded.
As always wishing you a blessed day ahead, and remember this is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Telegram
KryptoEdge
Thoughts on the market for 18.11.2020: Mexico’s second-richest man invests 10% of his liquid portfolio in #Bitcoin. 166th wealthiest person in the world has revealed that he has invested in #Bitcoin.
Bitcoin surpassed expectations, successfully consolidated…
Bitcoin surpassed expectations, successfully consolidated…
100 million tweets mentioning Bitcoin in 2021, 350% more than in 2020 as the Bank of Russia Plans to Collect Data on Peer to Peer Crypto-Related Transactions.
Thoughts on the market 29.12. 2021
The abrupt change in trend in the cryptocurrency market caught many of its participants by surprise, who believed in the continuation of the Christmas rally. Evil Santa👹 took down 80% of long positions in various crypto derivatives from more than 109,000 traders, leaving about $300 million in recorded losses as a gift to their holders. According to Coinglass, $119 million of this amount was liquidated on the Binance exchange, where a large player recently appeared, which I wrote about in previous reviews.(https://t.me/decryptedge/925)
On Monday, Biden signed the latest defence budget, which did not include two important amendments for the crypto community. The first concerned the creation of a new regulatory body solely responsible for digital assets. The second was to clarify the new tax code regarding the mandatory verification of transactions with cryptocurrencies. Without clarification, this rule can be applied not only to organizations providing brokerage services, but also to miners, node and wallet operators, which will make their work impossible. There was hope that Biden would return the document to Congress for revision, but this did not happen. As a result, it turned out that in terms of regulating the crypto market, the adopted law turned out to be not only incomplete, but also vague, leaving room for various interpretations and abuse. Of course, such uncertainty can push many investors to choose other assets.
For today, trading in the range of $47,000- $49,500 with a possible breach to 45500. The market is still quite thin, but in the range of 42000-45000 there is still significant buying interest, which should contain further decline.
The market capitalization: $2.25 Trillion.
BTC Dominance index: 40.2%.
Fear / Greed Index: 27.
The dollar index: 96.20.
Interestingly, in 2021, the frequency of mentions of Bitcoin on Twitter increased by 350% compared to 2020. There were 101 million tweets with the word “Bitcoin” from the analytics firm Visibrain in 2021, an increase of 350% compared to 2020. Bitcoin’s surge in social media attention this year can be attributed to an increase in the number of people doing general research on cryptocurrencies. Large market fluctuations can also contribute to this.
Almost every month this year, the crypto industry receives important news that has a significant impact on the price of bitcoin. Social media exploded in early February when Tesla bought $ 1.5 billion in BTC. In March, Tesla announced it would accept Bitcoin as a form of payment, which led to another spike in mentions.
The popularity was surpassed just two months later when Tesla stopped buying bitcoin. In the same month, China’s bitcoin miners saw a mass exodus that sparked another boom in social media.
Chinese investors have not given up on Bitcoin after tightening regulation. The South China Morning Post (SCMP) interviewed Investors on condition of anonymity, and said that some cryptocurrency holders intend to continue trading using VPNs, foreign mail services without identification systems and less centralized exchanges.
Lastly, the Bank of Russia will begin to control P2P transfers to combat bitcoin exchangers. CBR plans to obtain information from commercial banks pertaining to some money transfers between private individuals, including clients trading cryptocurrency. The measure is likely to affect online crypto exchangers which the regulator accuses of conducting illegal operations. Source:news.bitcoin.com
Thoughts on the market 29.12. 2021
The abrupt change in trend in the cryptocurrency market caught many of its participants by surprise, who believed in the continuation of the Christmas rally. Evil Santa👹 took down 80% of long positions in various crypto derivatives from more than 109,000 traders, leaving about $300 million in recorded losses as a gift to their holders. According to Coinglass, $119 million of this amount was liquidated on the Binance exchange, where a large player recently appeared, which I wrote about in previous reviews.(https://t.me/decryptedge/925)
On Monday, Biden signed the latest defence budget, which did not include two important amendments for the crypto community. The first concerned the creation of a new regulatory body solely responsible for digital assets. The second was to clarify the new tax code regarding the mandatory verification of transactions with cryptocurrencies. Without clarification, this rule can be applied not only to organizations providing brokerage services, but also to miners, node and wallet operators, which will make their work impossible. There was hope that Biden would return the document to Congress for revision, but this did not happen. As a result, it turned out that in terms of regulating the crypto market, the adopted law turned out to be not only incomplete, but also vague, leaving room for various interpretations and abuse. Of course, such uncertainty can push many investors to choose other assets.
For today, trading in the range of $47,000- $49,500 with a possible breach to 45500. The market is still quite thin, but in the range of 42000-45000 there is still significant buying interest, which should contain further decline.
The market capitalization: $2.25 Trillion.
BTC Dominance index: 40.2%.
Fear / Greed Index: 27.
The dollar index: 96.20.
Interestingly, in 2021, the frequency of mentions of Bitcoin on Twitter increased by 350% compared to 2020. There were 101 million tweets with the word “Bitcoin” from the analytics firm Visibrain in 2021, an increase of 350% compared to 2020. Bitcoin’s surge in social media attention this year can be attributed to an increase in the number of people doing general research on cryptocurrencies. Large market fluctuations can also contribute to this.
Almost every month this year, the crypto industry receives important news that has a significant impact on the price of bitcoin. Social media exploded in early February when Tesla bought $ 1.5 billion in BTC. In March, Tesla announced it would accept Bitcoin as a form of payment, which led to another spike in mentions.
The popularity was surpassed just two months later when Tesla stopped buying bitcoin. In the same month, China’s bitcoin miners saw a mass exodus that sparked another boom in social media.
Chinese investors have not given up on Bitcoin after tightening regulation. The South China Morning Post (SCMP) interviewed Investors on condition of anonymity, and said that some cryptocurrency holders intend to continue trading using VPNs, foreign mail services without identification systems and less centralized exchanges.
Lastly, the Bank of Russia will begin to control P2P transfers to combat bitcoin exchangers. CBR plans to obtain information from commercial banks pertaining to some money transfers between private individuals, including clients trading cryptocurrency. The measure is likely to affect online crypto exchangers which the regulator accuses of conducting illegal operations. Source:news.bitcoin.com
Telegram
KryptoEdge
Winter is Coming: Iran Temporary Halts Local #Bitcoin Mining to Prevent Electricity Blackouts as Mexican Billionaire Says Invest in It!
Thoughts on the market 28.12.2021
As early indicated, thin markets with low volumes are dangerous for false breakouts.…
Thoughts on the market 28.12.2021
As early indicated, thin markets with low volumes are dangerous for false breakouts.…
It’s been a record year for the cryptocurrency market, which surpassed $3 trillion in value in November. Top cryptocurrencies like bitcoin and ether also hit all-time highs. This mainstream adoption led to an increased focus on cryptocurrency regulation from lawmakers. Throughout the year, they debated frameworks on investor protections, taxes and more. Because of this, further regulation is likely to come. We talked about it here: https://t.me/decryptedge/917
As always wishing you a blessed day ahead, and remember this is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
As always wishing you a blessed day ahead, and remember this is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Telegram
KryptoEdge
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…
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…
S&P Global Sees no DeFi Threat to Traditional Finance, Iran Bans Crypto Mining Again as November Registered Close to 1Million New Bitcoin Addresses.
Thoughts on the market 30.12. 2021
On Wednesday, bitcoin temporarily found support near the level of $47,500, but later the correction continued to a low of $46,600. This fall was quickly bought back to $48,000. Then the decline resumed again and at the moment quotes are around $46,750.
There are only two days left until the New Year and liquidity on the market is again approaching minimum levels. Tomorrow is the expiration of about $6 billion worth of options, and until that time, sellers will try to keep the price below the "maximum pain" level of 48,000, which makes significant gains unlikely today. Therefore, if a miracle happens, then, most likely, closer to the opening time of champagne and fireworks. In the meantime, all attention remains on the 42000-45500 area, where a large volume of buying interest is concentrated, which should restrain the fall.
The market capitalisation: $2.18 Trillion.
BTC Dominance Index 40.5%.
Fear / Greed Index: 22.
The dollar index: 96.01.
For today, trading in the range 45500-48000. I do not expect significant spills below.
Interestingly Iran has confirmed another ban on cryptocurrency mining in 2021. Iran declared its second crypto mining ban for this year in an attempt to conserve more power during the bitter cold winters. Mostafa Rajabi Mashhadi, director of the public firm, Iran Grid Management Co. and a spokesman for Iran’s power industry noted that the ban will last until March 9 of next year.
According to Mashhadi, the ban will save upto 209 megawatts of electricity from registered crypto mining operators, which will be reallocated to the household sector to further prevent blackouts and decrease the extent of pressure on Iran’s power plants.
S&P Global predicts explosive growth in the DeFi industry in 2022. Standard & Poor’s (S&P) a leading index provider and global credit rating agency. The S&P500 is one of the world’s most recognised indices, with S&P’s highly sought-after AAA rating accredited to companies such as Microsoft. As a highly respected independent research company, S&P released an annual Global Credit Outlook report focused on Decentralised Finance. It’s take on Crypto Assets and tokenisation is that they will increasingly disrupt financial markets. Central bank digital currencies may act as a trusted bridge between traditional and virtual worlds.’
S&P believes that the adoption of cryptocurrencies will continue to gather pace. The report highlights that around 45 corporates have taken positions on cryptocurrencies (BTC and ETH), totalling around $24bn. Source: YahooFianance.
With that in mind, it's not surprising the number of Bitcoin wallet addresses increased by almost 1 million from November to December 2021. The key takeaway to round off the year is that up to 1 million new entrants joined the Bitcoin network in November. Source: Cointelegraph.
It begs two questions: Was this just an outlier fuelled by excitement after recently hitting an all-time high? Was it the start of a broader trend?
As always wishing you a blessed day ahead, and remember this is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Thoughts on the market 30.12. 2021
On Wednesday, bitcoin temporarily found support near the level of $47,500, but later the correction continued to a low of $46,600. This fall was quickly bought back to $48,000. Then the decline resumed again and at the moment quotes are around $46,750.
There are only two days left until the New Year and liquidity on the market is again approaching minimum levels. Tomorrow is the expiration of about $6 billion worth of options, and until that time, sellers will try to keep the price below the "maximum pain" level of 48,000, which makes significant gains unlikely today. Therefore, if a miracle happens, then, most likely, closer to the opening time of champagne and fireworks. In the meantime, all attention remains on the 42000-45500 area, where a large volume of buying interest is concentrated, which should restrain the fall.
The market capitalisation: $2.18 Trillion.
BTC Dominance Index 40.5%.
Fear / Greed Index: 22.
The dollar index: 96.01.
For today, trading in the range 45500-48000. I do not expect significant spills below.
Interestingly Iran has confirmed another ban on cryptocurrency mining in 2021. Iran declared its second crypto mining ban for this year in an attempt to conserve more power during the bitter cold winters. Mostafa Rajabi Mashhadi, director of the public firm, Iran Grid Management Co. and a spokesman for Iran’s power industry noted that the ban will last until March 9 of next year.
According to Mashhadi, the ban will save upto 209 megawatts of electricity from registered crypto mining operators, which will be reallocated to the household sector to further prevent blackouts and decrease the extent of pressure on Iran’s power plants.
S&P Global predicts explosive growth in the DeFi industry in 2022. Standard & Poor’s (S&P) a leading index provider and global credit rating agency. The S&P500 is one of the world’s most recognised indices, with S&P’s highly sought-after AAA rating accredited to companies such as Microsoft. As a highly respected independent research company, S&P released an annual Global Credit Outlook report focused on Decentralised Finance. It’s take on Crypto Assets and tokenisation is that they will increasingly disrupt financial markets. Central bank digital currencies may act as a trusted bridge between traditional and virtual worlds.’
S&P believes that the adoption of cryptocurrencies will continue to gather pace. The report highlights that around 45 corporates have taken positions on cryptocurrencies (BTC and ETH), totalling around $24bn. Source: YahooFianance.
With that in mind, it's not surprising the number of Bitcoin wallet addresses increased by almost 1 million from November to December 2021. The key takeaway to round off the year is that up to 1 million new entrants joined the Bitcoin network in November. Source: Cointelegraph.
It begs two questions: Was this just an outlier fuelled by excitement after recently hitting an all-time high? Was it the start of a broader trend?
As always wishing you a blessed day ahead, and remember this is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
MicroStrategy Purchases 1,914 #Bitcoin, Now Holds Almost $6B in Crypto, Justin Sun Deposits Almost $600 Million Worth of Ethereum on #Binance Since December and Binance to Acquire All Outstanding Shares of #Swipe.
On the penultimate day of the outgoing year, #Bitcoin managed to move away from recent lows around 46000 and made several unsuccessful attempts to break above the 48000 level. Trading volumes were low, and there was no significant news. The nearest resistance is in the range of 48000-48200, its break will open the way to 49500.
Market capitalisation is now $ 2.22 Trillion.
BTC Dominance Index 40.3%.
Fear / Greed Index 28.
Dollar Index dropped to 96.03.
A fall below 45500 in the coming days is unlikely, since there will not be enough volumes to absorb the interest in the range of 42000-45000. For today: Trading in the range 45500-48000 with a possible breakout of the upper border and growth to 49500.
Interestingly, #Microstrategy has invested another $ 94 million in bitcoin. According to a Thursday filing with the U.S. Securities and Exchange Commission, MicroStrategy purchased 1,914 BTC between Dec. 9 and Dec. 29 for $94.2 million, making its total holdings 124,391 BTC. With the recent buy, the company’s holdings are valued at roughly $5.9 billion, representing more than $2.1 billion in gains.
Justin Sun transferred almost $ 600 million to #Binance in Ethereum. This is equivalent to 165,000 Ethereum coins on the Binance exchange since the beginning of December, according to on-chain data provided by WuBlockchain. On Dec. 17, Justin Sun reported his resignation as #TRON CEO to become Grenada's WTO Ambassador. The TRON Foundation is also set to dissolve on July 25, 2022. The crypto entrepreneur had also stated that the three super nodes associated with him, "justinsuntron," "BitTorrent" and "µTorrent," have been officially withdrawn from TRON representatives as the TRON community will now be run by 27 super representatives. TRX has so far lost 15% of its trading price since then.
Lastly, Binance crypto exchange announced that it is acquiring the remaining outstanding shares of the digital wallet and crypto debit card company, #Swipe. The aim of the new acquisition will enhance Binance’s steady rising portfolio of alternative payment methods, by offering digital assets payment services to the financial industry. The announcement by Binance comes at a time when the crypto exchange has been adding fiat gateways for all users across the world. The acquisition is set to help boost crypto adoption globally. This is the seventh acquisition that Malta-based Binance has made since it was established in 2017. Furthermore, the firm has bought #WazirX, #DappReviw, #BxB and #CoinMarketCap.
Images courtesy.
As always wishing you a blessed day ahead, and remember this is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
On the penultimate day of the outgoing year, #Bitcoin managed to move away from recent lows around 46000 and made several unsuccessful attempts to break above the 48000 level. Trading volumes were low, and there was no significant news. The nearest resistance is in the range of 48000-48200, its break will open the way to 49500.
Market capitalisation is now $ 2.22 Trillion.
BTC Dominance Index 40.3%.
Fear / Greed Index 28.
Dollar Index dropped to 96.03.
A fall below 45500 in the coming days is unlikely, since there will not be enough volumes to absorb the interest in the range of 42000-45000. For today: Trading in the range 45500-48000 with a possible breakout of the upper border and growth to 49500.
Interestingly, #Microstrategy has invested another $ 94 million in bitcoin. According to a Thursday filing with the U.S. Securities and Exchange Commission, MicroStrategy purchased 1,914 BTC between Dec. 9 and Dec. 29 for $94.2 million, making its total holdings 124,391 BTC. With the recent buy, the company’s holdings are valued at roughly $5.9 billion, representing more than $2.1 billion in gains.
Justin Sun transferred almost $ 600 million to #Binance in Ethereum. This is equivalent to 165,000 Ethereum coins on the Binance exchange since the beginning of December, according to on-chain data provided by WuBlockchain. On Dec. 17, Justin Sun reported his resignation as #TRON CEO to become Grenada's WTO Ambassador. The TRON Foundation is also set to dissolve on July 25, 2022. The crypto entrepreneur had also stated that the three super nodes associated with him, "justinsuntron," "BitTorrent" and "µTorrent," have been officially withdrawn from TRON representatives as the TRON community will now be run by 27 super representatives. TRX has so far lost 15% of its trading price since then.
Lastly, Binance crypto exchange announced that it is acquiring the remaining outstanding shares of the digital wallet and crypto debit card company, #Swipe. The aim of the new acquisition will enhance Binance’s steady rising portfolio of alternative payment methods, by offering digital assets payment services to the financial industry. The announcement by Binance comes at a time when the crypto exchange has been adding fiat gateways for all users across the world. The acquisition is set to help boost crypto adoption globally. This is the seventh acquisition that Malta-based Binance has made since it was established in 2017. Furthermore, the firm has bought #WazirX, #DappReviw, #BxB and #CoinMarketCap.
Images courtesy.
As always wishing you a blessed day ahead, and remember this is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge