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
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#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
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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
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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
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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
Be Warned Lots of Expert #Crypto Predictions for 2022.
Thoughts on the market 03.01.2022
On the last day of 2021, bitcoin registered growth to the level of $48,600, then after the dynamics changed, price set off to test the key support level of $45,600. Yesterday there was another attempt to break through the resistance at 48K, but before reaching the target by a few points, a sell off began. At the time of writing this review, Bitcoin is trading at around 47050.
Market capitalization: $2.23 Trillion.
BTC Dominance index: 39.6%.
Fear / Greed Index: 29.
The dollar index: 95.92.
The news background is generally positive.
The medium-term outlook for Bitcoin will be determined early this week, when volumes return to the markets. If $45,500 holds in the coming days, it will lead to a resumption of growth with the nearest target of 49600, and then 52000.
For today, trading in the range $45,500-$49,600. Both upper and lower bound tests are possible. False breakouts are not excluded. Interestingly,
*#Eminem bought NFT from the Bored Ape Yacht Club collection for $ 462,000.
*The President of El Salvador said that two more countries will accept Bitcoin as legal tender in 2022, and Bitcoin will reach 100K.
*Shanghai included the metaverse in the region's five-year development plan.
*Korea will start taxing donated or inherited cryptocurrencies starting next year.
In summary, major resistance levels $50/55K reclaiming it weekly will be a good step for a bull market bias.
$65K weekly close = new ATH around $75K/83/95K
Major support levels: $45K, and a close below it monthly will support a bear market. $40/35K breakdown means $30/29K. $29K major support and will be a good trading area if bulls hold there. Biased view, and may be subject to fail: nothing new, market is bearish, as long as btc is below $65K weekly, and about the current movement probably BTC will range between $45/50 before the breakdown in Q1 of 2022 to $40/32K!
Current action is best to stay in the shadows and watch the market and always watch major support levels! Good time for some selective altcoins if BTC maintains the trading range!
Will be sharing our 2022 Crypto Outlook later today.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 03.01.2022
On the last day of 2021, bitcoin registered growth to the level of $48,600, then after the dynamics changed, price set off to test the key support level of $45,600. Yesterday there was another attempt to break through the resistance at 48K, but before reaching the target by a few points, a sell off began. At the time of writing this review, Bitcoin is trading at around 47050.
Market capitalization: $2.23 Trillion.
BTC Dominance index: 39.6%.
Fear / Greed Index: 29.
The dollar index: 95.92.
The news background is generally positive.
The medium-term outlook for Bitcoin will be determined early this week, when volumes return to the markets. If $45,500 holds in the coming days, it will lead to a resumption of growth with the nearest target of 49600, and then 52000.
For today, trading in the range $45,500-$49,600. Both upper and lower bound tests are possible. False breakouts are not excluded. Interestingly,
*#Eminem bought NFT from the Bored Ape Yacht Club collection for $ 462,000.
*The President of El Salvador said that two more countries will accept Bitcoin as legal tender in 2022, and Bitcoin will reach 100K.
*Shanghai included the metaverse in the region's five-year development plan.
*Korea will start taxing donated or inherited cryptocurrencies starting next year.
In summary, major resistance levels $50/55K reclaiming it weekly will be a good step for a bull market bias.
$65K weekly close = new ATH around $75K/83/95K
Major support levels: $45K, and a close below it monthly will support a bear market. $40/35K breakdown means $30/29K. $29K major support and will be a good trading area if bulls hold there. Biased view, and may be subject to fail: nothing new, market is bearish, as long as btc is below $65K weekly, and about the current movement probably BTC will range between $45/50 before the breakdown in Q1 of 2022 to $40/32K!
Current action is best to stay in the shadows and watch the market and always watch major support levels! Good time for some selective altcoins if BTC maintains the trading range!
Will be sharing our 2022 Crypto Outlook later today.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
Garry Kasparov: Crypto Means Freedom. The Chess Grandmaster Expects a Basket of Coins to Replace the Dollar within a Decade.
Thoughts on the market 04.01.2022
Yet another failed attempt to overcome resistance at 48K, Bitcoin declined to $45,696 (Binance). At the time of writing this review it is trading at around $46,100.
The fall was observed throughout the Cryptomarket. Altcoins from the top 10, with the exception of stablecoins, lost up to 5% of their value.
Market capitalization: $2.21 Trillion.
BTC Dominance Index 39.6%.
Fear / Greed Index 23.
The dollar Index is up: 96.23.
Bitcoin continues to move in a narrow range, the key support and resistance levels remain the same, nothing much has changed since yesterday. The high dollar index continues to put pressure on the value of Bitcoin, which again returned above 96 and as soon as it starts to fall, bitcoin will go up.
For today, I expect a trade range of $45,500-48500. If the $45,500 level does not hold , then we can test the $43,500 To some interesting news:
The Estonian Ministry of Finance will not prohibit cryptocurrency trading..
Samsung will produce TVs with NFT support.
Remember our review yesterday, : Be Warned Lots of Expert #Crypto Predictions for 2022.
(https://t.me/decryptedge/934)
Garry Kasparov knows math. He knows logic, strategy and decision-making. Widely regarded as the greatest chess player in the history of mankind, the Russian grandmaster – ranked No. 1 from 1984 to 2005 – sees the world with a certain clarity. Will share a compressed interview below done by @Coindesk
Whatever you do this year and years to come in Crypto, ensure you: 1) Understand. 2) Knowing that it can all go to zero, and 3) Heart - love what you do. Einstein said well, if you understand the matter truly, then you can explain it simply.
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 04.01.2022
Yet another failed attempt to overcome resistance at 48K, Bitcoin declined to $45,696 (Binance). At the time of writing this review it is trading at around $46,100.
The fall was observed throughout the Cryptomarket. Altcoins from the top 10, with the exception of stablecoins, lost up to 5% of their value.
Market capitalization: $2.21 Trillion.
BTC Dominance Index 39.6%.
Fear / Greed Index 23.
The dollar Index is up: 96.23.
Bitcoin continues to move in a narrow range, the key support and resistance levels remain the same, nothing much has changed since yesterday. The high dollar index continues to put pressure on the value of Bitcoin, which again returned above 96 and as soon as it starts to fall, bitcoin will go up.
For today, I expect a trade range of $45,500-48500. If the $45,500 level does not hold , then we can test the $43,500 To some interesting news:
The Estonian Ministry of Finance will not prohibit cryptocurrency trading..
Samsung will produce TVs with NFT support.
Remember our review yesterday, : Be Warned Lots of Expert #Crypto Predictions for 2022.
(https://t.me/decryptedge/934)
Garry Kasparov knows math. He knows logic, strategy and decision-making. Widely regarded as the greatest chess player in the history of mankind, the Russian grandmaster – ranked No. 1 from 1984 to 2005 – sees the world with a certain clarity. Will share a compressed interview below done by @Coindesk
Whatever you do this year and years to come in Crypto, ensure you: 1) Understand. 2) Knowing that it can all go to zero, and 3) Heart - love what you do. Einstein said well, if you understand the matter truly, then you can explain it simply.
Remember this is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
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Be Warned Lots of Expert #Crypto Predictions for 2022.
Thoughts on the market 03.01.2022
On the last day of 2021, bitcoin registered growth to the level of $48,600, then after the dynamics changed, price set off to test the key support level of $45,600.…
Thoughts on the market 03.01.2022
On the last day of 2021, bitcoin registered growth to the level of $48,600, then after the dynamics changed, price set off to test the key support level of $45,600.…
Coinbase CEO reportedly Gifts Himself LA Mansion for $133M. Thats Ksh 15 Billion.
Thoughts on the market 05.01. 2022
Bitcoin remained in the $47,550- $45,500 range during the day. Corrections below 46K are quickly redeemed. As of this writing, it is trading at around 46300.
Market capitalization: $2.23 Trillion.
BTC Dominance Index 39.3%.
Fear / Greed Index 24.
The dollar index rose by 0.07% to 96.28.
The cryptomarket everything is the same, we continue to move in the same narrow range. Support at $45,500 has shown strength again, the accumulation is complete, data from the analytical firm CryptoQuant show that Bitcoin reserves on 21 exchanges have returned to record lows, as a rule, such indicators indicate that investors continue to withdraw Bitcoin to cold wallets, all this is in favor of growth and new highs. For today, the priority option is bitcoin in the range of 45500-48000, the alternative is going below $45000 (In the current situation, it is unlikely, the external background is favorable for growth, there are many interesting and positive news every day. But if price exits downwards, then we will go to 44-43K.
Apparently things are going very well. Coinbase CEO Brian Armstrong buys a Los Angeles mansion for $ 133 million. Armstrong bought a $133-million Los Angeles property from Japanese entrepreneur Hideki Tomita in December, The Wall Street Journal reported on Monday, citing anonymous people familiar with the matter. Crypto executives have been increasingly buying real estate recently. Jonathan Yantis, co-founder of the nonfungible token platform Worldwide Asset eXchange, reportedly purchased a 70-acre estate outside Denver for $12.5 million in mid-December. Changpeng Zhao, CEO of the world’s largest crypto exchange, Binance, reportedly bought his first home in Dubai in October 2021. He previously said that he did not own any real estate as of April 2021, claiming that he sold his apartment in Shanghai back in 2006 to buy Bitcoin (BTC).
Lastly, the central bank of China has already released the digital yuan wallet app for Android and IOS. According to a report from Reuters, the app claims it is in an experimental research and development phase and is only accessible to select individuals through authorized e-CNY service providers. In late fall 2021, PBoC Governor Yi Gang stated that the country would continue to develop its central bank digital currency (CBDC) and improve design and usage, including enhancing interoperability with current payment systems. @Cointelegraph
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 05.01. 2022
Bitcoin remained in the $47,550- $45,500 range during the day. Corrections below 46K are quickly redeemed. As of this writing, it is trading at around 46300.
Market capitalization: $2.23 Trillion.
BTC Dominance Index 39.3%.
Fear / Greed Index 24.
The dollar index rose by 0.07% to 96.28.
The cryptomarket everything is the same, we continue to move in the same narrow range. Support at $45,500 has shown strength again, the accumulation is complete, data from the analytical firm CryptoQuant show that Bitcoin reserves on 21 exchanges have returned to record lows, as a rule, such indicators indicate that investors continue to withdraw Bitcoin to cold wallets, all this is in favor of growth and new highs. For today, the priority option is bitcoin in the range of 45500-48000, the alternative is going below $45000 (In the current situation, it is unlikely, the external background is favorable for growth, there are many interesting and positive news every day. But if price exits downwards, then we will go to 44-43K.
Apparently things are going very well. Coinbase CEO Brian Armstrong buys a Los Angeles mansion for $ 133 million. Armstrong bought a $133-million Los Angeles property from Japanese entrepreneur Hideki Tomita in December, The Wall Street Journal reported on Monday, citing anonymous people familiar with the matter. Crypto executives have been increasingly buying real estate recently. Jonathan Yantis, co-founder of the nonfungible token platform Worldwide Asset eXchange, reportedly purchased a 70-acre estate outside Denver for $12.5 million in mid-December. Changpeng Zhao, CEO of the world’s largest crypto exchange, Binance, reportedly bought his first home in Dubai in October 2021. He previously said that he did not own any real estate as of April 2021, claiming that he sold his apartment in Shanghai back in 2006 to buy Bitcoin (BTC).
Lastly, the central bank of China has already released the digital yuan wallet app for Android and IOS. According to a report from Reuters, the app claims it is in an experimental research and development phase and is only accessible to select individuals through authorized e-CNY service providers. In late fall 2021, PBoC Governor Yi Gang stated that the country would continue to develop its central bank digital currency (CBDC) and improve design and usage, including enhancing interoperability with current payment systems. @Cointelegraph
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