India to launch first Bitcoin ETF.
Thoughts on the market on 14.01.2022
The fear of the Fed's actions were greatly exaggerated. Today, the market driver (or its brake) will be the reports of large US banks.
Bitcoin’s growth is highly affected or rather spoiled by the external background. Market capitalization has held above $ 2 Trillion, and Bitcoin's dominance index has dropped below 40% again. Despite the high level of fear in the market, money is in no hurry to leave altcoins.
Bitcoin moved in the range of $44,400- $42,400 during the day. After updating the local high just above $44,400 last night, it moved to a decline. Bitcoin is currently trading at around $42,500.
Total Crypto Market capitalization $2.029 Trillion.
BTC Dominance index 39.7%,
Fear Index 21.
The dollar Index remains below 95 and shows a slight decline, which is good for the markets.
What's next?
In the medium term, Bitcoin going sideways details here.(https://t.me/decryptedge/952)
Last time BTC was rejected near $45k resistance from $44k level. So bulls fail to break out of this resistance this will give bears a good chance to pullback BTC below $40k as we mentioned in our bias view.
Consolidation at 42500-44100 is most likely today, with possible renewal of a lower highs. An alternative option, which is likely with an unfavorable external background, is going below 42K into the familiar range of 42,000-40,000. The first option is a priority.
Leaving for the weekend with Bitcoin above 42800-43100 is a good rise in altcoins. In general, there is a high risk in altcoins.
Let's look back, since 2018, there has been talk of an imminent ban on cryptocurrency in India. There were really just attempts, there was no ban. Instead, the Indian stock exchange is about to launch ETFs for Bitcoin and Ether. The ability to admit one's mistakes and delusions and correct them is an important quality not only for a person, but also for a government. Created by Cosmea Financial Holdings and Kling Trading India on a parity basis, Torus Kling Blockchain and the International Stock Exchange of India have signed a letter of intent to launch an ETF based on Bitcoin and Ethereum futures. Compliant products are being marketed as part of the India Financial Services Authority sandbox. If approved by regulators, they will be launched by the end of the first quarter. Under the agreement, Torus Kling Blockchain will become a liquidity provider by providing an order routing system. The Torus distribution team and partners will handle the distribution of the ETF. The firm intends to raise $ 1 billion in the instrument within the first two years of operation.
Food for thought: Cryptocurrencies are legal in Switzerland, Japan and Singapore, but banned in Syria, Egypt, Kyrgyzstan. Compare these countries in terms of status and attractiveness for life. So choose who to follow and listen to as you take this crypto ride.
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 on 14.01.2022
The fear of the Fed's actions were greatly exaggerated. Today, the market driver (or its brake) will be the reports of large US banks.
Bitcoin’s growth is highly affected or rather spoiled by the external background. Market capitalization has held above $ 2 Trillion, and Bitcoin's dominance index has dropped below 40% again. Despite the high level of fear in the market, money is in no hurry to leave altcoins.
Bitcoin moved in the range of $44,400- $42,400 during the day. After updating the local high just above $44,400 last night, it moved to a decline. Bitcoin is currently trading at around $42,500.
Total Crypto Market capitalization $2.029 Trillion.
BTC Dominance index 39.7%,
Fear Index 21.
The dollar Index remains below 95 and shows a slight decline, which is good for the markets.
What's next?
In the medium term, Bitcoin going sideways details here.(https://t.me/decryptedge/952)
Last time BTC was rejected near $45k resistance from $44k level. So bulls fail to break out of this resistance this will give bears a good chance to pullback BTC below $40k as we mentioned in our bias view.
Consolidation at 42500-44100 is most likely today, with possible renewal of a lower highs. An alternative option, which is likely with an unfavorable external background, is going below 42K into the familiar range of 42,000-40,000. The first option is a priority.
Leaving for the weekend with Bitcoin above 42800-43100 is a good rise in altcoins. In general, there is a high risk in altcoins.
Let's look back, since 2018, there has been talk of an imminent ban on cryptocurrency in India. There were really just attempts, there was no ban. Instead, the Indian stock exchange is about to launch ETFs for Bitcoin and Ether. The ability to admit one's mistakes and delusions and correct them is an important quality not only for a person, but also for a government. Created by Cosmea Financial Holdings and Kling Trading India on a parity basis, Torus Kling Blockchain and the International Stock Exchange of India have signed a letter of intent to launch an ETF based on Bitcoin and Ethereum futures. Compliant products are being marketed as part of the India Financial Services Authority sandbox. If approved by regulators, they will be launched by the end of the first quarter. Under the agreement, Torus Kling Blockchain will become a liquidity provider by providing an order routing system. The Torus distribution team and partners will handle the distribution of the ETF. The firm intends to raise $ 1 billion in the instrument within the first two years of operation.
Food for thought: Cryptocurrencies are legal in Switzerland, Japan and Singapore, but banned in Syria, Egypt, Kyrgyzstan. Compare these countries in terms of status and attractiveness for life. So choose who to follow and listen to as you take this crypto ride.
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Telegram
KryptoEdge
Most participants in the crypto market expect a rise in the value of crypto assets. The rationale for such a positive expectation is contrary to the background news that the Fed will raise rates. Resulting in the stock market fall and Bitcoin has a correlation…
Crypto Exchange FTX Sets Up $2 Billion Venture Fund. Thoughts on the Cryptomarket on 15.01.2022
On the crypto market as a whole, yesterday's outlook worked out. Leaving below $42,500 for several hours ended with a return to the range, and Bitcoin did not rise above $43,300. Bitcoin trading volumes have decreased, the range has narrowed, movements are taking place in altcoins.
It is quite possible that there will be attempts to break out of the 41600-44100 range on the thin weekend market but more action will take place at the opening of the wall street markets on Monday.
Altcoins will rise over the weekend with Bitcoin remaining calm (in case it stays above $42,800), they will bleed more if there are corrections below 42K.
Market capitalization $2.05 Trillion.
BTC dominance index 39.6%.
Fear index 23.
The dollar index returned above 95 and closed higher.
Elon Musk continues experimenting with Dogecoin. Now he has announced the ability to buy children's ATVs in the Tesla store. On this news, Dogecoin rose a little more than 10%, but soon almost returned to its original value. You can clearly see what the consensus is - everyone has bought and is waiting for growth. The situation with Doge, this is not the end. Either Musk will see it through to the end, or he will simply grow with the rest of the alts.
At one time, Musk was fined by the SEC for similar movements with Tesla shares. Now he has appreciated the possibilities of the crypto market. However, this is good both for the market and for Musk personally. In Germany, the interior minister wants to block Telegram.
The FTX exchange enters stock trading and also opens a fund for investments in crypto-startups, for $2 Billion.
According to a survey conducted by the Huobi exchange, 70% of US citizens who entered crypto did so in 2021. Obviously, this is a reaction to record inflation. It's only the beginning).
According to Grayscale Research, 26% of US citizens own Bitcoin. A year ago it was less than 10%. Lastly, the mayor of Rio de Janeiro is going to invest 1% of the city treasury in Bitcoin. Image Courtesy: @WSJ
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
On the crypto market as a whole, yesterday's outlook worked out. Leaving below $42,500 for several hours ended with a return to the range, and Bitcoin did not rise above $43,300. Bitcoin trading volumes have decreased, the range has narrowed, movements are taking place in altcoins.
It is quite possible that there will be attempts to break out of the 41600-44100 range on the thin weekend market but more action will take place at the opening of the wall street markets on Monday.
Altcoins will rise over the weekend with Bitcoin remaining calm (in case it stays above $42,800), they will bleed more if there are corrections below 42K.
Market capitalization $2.05 Trillion.
BTC dominance index 39.6%.
Fear index 23.
The dollar index returned above 95 and closed higher.
Elon Musk continues experimenting with Dogecoin. Now he has announced the ability to buy children's ATVs in the Tesla store. On this news, Dogecoin rose a little more than 10%, but soon almost returned to its original value. You can clearly see what the consensus is - everyone has bought and is waiting for growth. The situation with Doge, this is not the end. Either Musk will see it through to the end, or he will simply grow with the rest of the alts.
At one time, Musk was fined by the SEC for similar movements with Tesla shares. Now he has appreciated the possibilities of the crypto market. However, this is good both for the market and for Musk personally. In Germany, the interior minister wants to block Telegram.
The FTX exchange enters stock trading and also opens a fund for investments in crypto-startups, for $2 Billion.
According to a survey conducted by the Huobi exchange, 70% of US citizens who entered crypto did so in 2021. Obviously, this is a reaction to record inflation. It's only the beginning).
According to Grayscale Research, 26% of US citizens own Bitcoin. A year ago it was less than 10%. Lastly, the mayor of Rio de Janeiro is going to invest 1% of the city treasury in Bitcoin. Image Courtesy: @WSJ
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Walmart Filings Reveal Plans to Create Cryptocurrency, NFTs
Thoughts on the market on 17.01.2022
Bitcoin spent the weekend in the 42555-43800 range. This morning it fell to lows of 42300, and at the time of writing its trading around at $42,800.
Market capitalisation: $2.05 Trillion.
Dominance Index: 39.5%
Fear/Greed Index: 22%
The dollar index also continued its growth and is now at around 95.20.
Nothing significant happened on the crypto market over the weekend, bitcoin still oscillated in a narrow range of 42500-43500, although on Saturday evening it went above 43800, but did not stay there for a long time. Market capitalisation continues to hold above $2 Trillion, the dominance index is below 40%.
The plan for this week remains the same, nothing new, we still take the bearish side as long as BTC is below $55k $65K weekly. The herd is looking at bitcoin exiting the range and fixing above 45K contrary to our view. This is crypto so anything is possible.
Walmart has filed paperwork with US regulators to launch its own cryptocurrency, #NFT, and #metaverse. Remember how last year there was already news about Walmart using #Litecoin for payments. The retail giant filed for several trademarks on December 30th, suggesting plans to start selling virtual goods, including electronics, toys, appliances, sporting equipment, apparel, home decor, and more, as noted by #CNBC. There’s mention of offering customers a digital currency, as well as the opportunity to buy and sell NFTs.
“Walmart is continuously exploring how emerging technologies may shape future shopping experiences,” Walmart spokesperson Carrie McKnight. “We don’t have anything further to share today, but it’s worth noting we routinely file trademark applications as part of the innovation process.”
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 on 17.01.2022
Bitcoin spent the weekend in the 42555-43800 range. This morning it fell to lows of 42300, and at the time of writing its trading around at $42,800.
Market capitalisation: $2.05 Trillion.
Dominance Index: 39.5%
Fear/Greed Index: 22%
The dollar index also continued its growth and is now at around 95.20.
Nothing significant happened on the crypto market over the weekend, bitcoin still oscillated in a narrow range of 42500-43500, although on Saturday evening it went above 43800, but did not stay there for a long time. Market capitalisation continues to hold above $2 Trillion, the dominance index is below 40%.
The plan for this week remains the same, nothing new, we still take the bearish side as long as BTC is below $55k $65K weekly. The herd is looking at bitcoin exiting the range and fixing above 45K contrary to our view. This is crypto so anything is possible.
Walmart has filed paperwork with US regulators to launch its own cryptocurrency, #NFT, and #metaverse. Remember how last year there was already news about Walmart using #Litecoin for payments. The retail giant filed for several trademarks on December 30th, suggesting plans to start selling virtual goods, including electronics, toys, appliances, sporting equipment, apparel, home decor, and more, as noted by #CNBC. There’s mention of offering customers a digital currency, as well as the opportunity to buy and sell NFTs.
“Walmart is continuously exploring how emerging technologies may shape future shopping experiences,” Walmart spokesperson Carrie McKnight. “We don’t have anything further to share today, but it’s worth noting we routinely file trademark applications as part of the innovation process.”
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Tesla Big Announcement to Accept #Dogecoin for brand merchandise Fails To Stir the Market. What does it Mean?
Bitcoin moved in the range of 43260-41560 during the day. After an unsuccessful attempt to gain a foothold above 43K, price declined to 41560.
Total Crypto Market capitalization $2.018 Trillion,
BTC Dominance index 39.6%,
Fear index 24.
The dollar index is above 95.4, and the growth occurred in the last hour, this is an alarming signal for the markets.
Today the US market is expected to report Bank of America, Goldman Sachs and Bank of NY Mellon. And the main topic of the US market continues to be the actions of the Fed to combat rising inflation. Will the Fed crash the stock market with its actions?
On the crypto market, we see the decline of bitcoin below 42K ended with purchases and returns to 42200-42300. Bitcoin has been in the range of 40600-44000 for almost 2 weeks.
The biggest fear in the crypto market right now is the expectation that the Fed will crash the stock market by tightening monetary policy, and Bitcoin will follow. Will post an update here.
Analysts at Fidelity Digital Assets - one of the largest asset management companies in the world - said they expect governments to buy Bitcoin. To whose interest are they serving?
Lastly do not forget about the consensus in the market and what it usually leads to.
Just to give you a feel on crypto market sentiments, 3 days ago, Tesla, the electric carmaker headed by billionaire Elon Musk, announced that it started to allow people to buy brand merchandise using Dogecoin. Announcing the development on Twitter on Friday, a month after hinting of the plans. The news sent the value of Dogecoin soaring, though it fell back later.
Looking back on previous comments by Musk, it would have caused a frenzy that frequently moved the prices of digital currencies up, including Dogecoin and Bitcoin. This time DOGE moved not more than 14%. The market is worn out and needs a reset. An imminent move to weekly 200MA located at 35k is incoming with such a background.
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Bitcoin moved in the range of 43260-41560 during the day. After an unsuccessful attempt to gain a foothold above 43K, price declined to 41560.
Total Crypto Market capitalization $2.018 Trillion,
BTC Dominance index 39.6%,
Fear index 24.
The dollar index is above 95.4, and the growth occurred in the last hour, this is an alarming signal for the markets.
Today the US market is expected to report Bank of America, Goldman Sachs and Bank of NY Mellon. And the main topic of the US market continues to be the actions of the Fed to combat rising inflation. Will the Fed crash the stock market with its actions?
On the crypto market, we see the decline of bitcoin below 42K ended with purchases and returns to 42200-42300. Bitcoin has been in the range of 40600-44000 for almost 2 weeks.
The biggest fear in the crypto market right now is the expectation that the Fed will crash the stock market by tightening monetary policy, and Bitcoin will follow. Will post an update here.
Analysts at Fidelity Digital Assets - one of the largest asset management companies in the world - said they expect governments to buy Bitcoin. To whose interest are they serving?
Lastly do not forget about the consensus in the market and what it usually leads to.
Just to give you a feel on crypto market sentiments, 3 days ago, Tesla, the electric carmaker headed by billionaire Elon Musk, announced that it started to allow people to buy brand merchandise using Dogecoin. Announcing the development on Twitter on Friday, a month after hinting of the plans. The news sent the value of Dogecoin soaring, though it fell back later.
Looking back on previous comments by Musk, it would have caused a frenzy that frequently moved the prices of digital currencies up, including Dogecoin and Bitcoin. This time DOGE moved not more than 14%. The market is worn out and needs a reset. An imminent move to weekly 200MA located at 35k is incoming with such a background.
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Crypto.com Suffers Hack for At Least $15M in #Ethereum! Intel Getting to Bitcoin Mining? Thoughts on the market on 19.01.2022.
Nothing much has changed bitcoin moving in the 40600-44000 range and most likely it will remain in it, probably go to the upper or lower boundary of the range, depending on the external background. The external background was quite bad.
US markets are falling amid expectations of a rate hike by the Fed to combat rising inflation. There is practically no doubt that this will be done in March. Fear in the market is what will happen next - a rate increase of 6-7 times in a row plus a reduction in the balance sheet.The correlation with the stock market is a temporary phenomenon. Why? Will share on this later in the week.
Against such an external background, Bitcoin went exactly to the lower boundary of the range yesterday. During the day, it went below $42,800- $42,500, and reached $41,150. But around 41200, purchases began, and bounced off this level twice. Now Bitcoin is again below above $42,000
Market capitalization $1.960 Trillion.
BTC Dominance index $40.2%,
Fear index 24.
The most likely option for today is that Bitcoin remains above 40K, with a subsequent return above 42800. An alternative option is a correction to $37,500- $38000 as we mentioned yesterday.
Crypto.com, one of the worlds’ largest cryptocurrency exchanges has reportedly suffered a hack, with at least $15 million worth of Ethereum stolen. The hack is the latest in a series of security branches that have affected crypto currency exchanges and it further damages confidence in the nascent cryptocurrency sphere. The issues came to light when users began reporting that their funds were missing, even those with two factor authorization enabled. Crypto.com tweeted that it was pausing withdrawals after it received complaints from users.
These issues led PeckShield, a blockchain security firm to look at the blockchain data. It discovered that at least 4600 Eth is being laundered through Tornado Cash, which is an Ethereum privacy protocol that breaks the link between source and destination addresses.
Not your private keys, not your coins.
Lastly, Chip manufacturing giant Intel is getting into the #Bitcoin mining game. They plan on developing a Bitcoin miner that is ultra-low-voltage & highly energy-efficient. Probably nothing. Source @Danheld
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Nothing much has changed bitcoin moving in the 40600-44000 range and most likely it will remain in it, probably go to the upper or lower boundary of the range, depending on the external background. The external background was quite bad.
US markets are falling amid expectations of a rate hike by the Fed to combat rising inflation. There is practically no doubt that this will be done in March. Fear in the market is what will happen next - a rate increase of 6-7 times in a row plus a reduction in the balance sheet.The correlation with the stock market is a temporary phenomenon. Why? Will share on this later in the week.
Against such an external background, Bitcoin went exactly to the lower boundary of the range yesterday. During the day, it went below $42,800- $42,500, and reached $41,150. But around 41200, purchases began, and bounced off this level twice. Now Bitcoin is again below above $42,000
Market capitalization $1.960 Trillion.
BTC Dominance index $40.2%,
Fear index 24.
The most likely option for today is that Bitcoin remains above 40K, with a subsequent return above 42800. An alternative option is a correction to $37,500- $38000 as we mentioned yesterday.
Crypto.com, one of the worlds’ largest cryptocurrency exchanges has reportedly suffered a hack, with at least $15 million worth of Ethereum stolen. The hack is the latest in a series of security branches that have affected crypto currency exchanges and it further damages confidence in the nascent cryptocurrency sphere. The issues came to light when users began reporting that their funds were missing, even those with two factor authorization enabled. Crypto.com tweeted that it was pausing withdrawals after it received complaints from users.
These issues led PeckShield, a blockchain security firm to look at the blockchain data. It discovered that at least 4600 Eth is being laundered through Tornado Cash, which is an Ethereum privacy protocol that breaks the link between source and destination addresses.
Not your private keys, not your coins.
Lastly, Chip manufacturing giant Intel is getting into the #Bitcoin mining game. They plan on developing a Bitcoin miner that is ultra-low-voltage & highly energy-efficient. Probably nothing. Source @Danheld
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Google Pay May add Crypto Cards to Attract its 'Next Billion Users' Thoughts on the market on 20.1.2022
US Stock markets fell again yesterday, volatility index is at its highs, the general situation is quite gloomy.
The reasons are the same - the markets are waiting for the Fed's reaction to inflation. Until the scale of this reaction is understood, the situation will not change.
The crypto market is still at an impasse - everyone who bought Bitcoin at 40-42K has already done it, because the asset within 2 weeks gave those who wished for such an opportunity. Those who want to sell Bitcoin in this range also end. In order to snatch Bitcoin out of weak hands, a strait towards 37500-38000 is needed. We have our targets at 35K(https://t.me/decryptedge/962). The prospects for Bitcoin are obvious, and in the medium term they are not particularly dependent on the stock market.
Capitalization of the crypto market $1.977 Trillion.
Dominance index 40.1%,
Fear index 24.
The dollar index is above 95.5.
Should I buy Bitcoin now or wait for $38K?
Well that depends on why you got involved in the 1st place. Are you able to stomach and hold incase of a potential -80% downside. Everyone knows about traditional assets for a long time, talk of Gold, Stocks, Realestate, they are at peace with that. Very few people know about the possibilities of Bitcoin. Everyone has heard, but very few understand that it's disrupting the Financial Services and money industry.
Australian, Singaporean and Italian regulators warn that crypto is dangerous. Although it's actually dangerous, what will happen if the leading countries of the world ban Bitcoin? Read here. https://t.me/decryptedge/226
Lastly, Crypto will soon be in Google Pay. After abandoning its Plex banking plans with Google Pay, Google is hiring new executives and pushing a new strategy to compete with Apple Pay. Google Pay will become a "comprehensive digital wallet" that focuses more on non-payment uses like vaccine passports. Google has partnered with crypto companies and platforms, such as BitPay and Coinbase to store the digital assets in the cards of Google Pay. This is to incorporate currencies into its digital services, but doesn't accept crypto payments yet. We shall follow this closely. Source : Android Central
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #google #money #research #payments
US Stock markets fell again yesterday, volatility index is at its highs, the general situation is quite gloomy.
The reasons are the same - the markets are waiting for the Fed's reaction to inflation. Until the scale of this reaction is understood, the situation will not change.
The crypto market is still at an impasse - everyone who bought Bitcoin at 40-42K has already done it, because the asset within 2 weeks gave those who wished for such an opportunity. Those who want to sell Bitcoin in this range also end. In order to snatch Bitcoin out of weak hands, a strait towards 37500-38000 is needed. We have our targets at 35K(https://t.me/decryptedge/962). The prospects for Bitcoin are obvious, and in the medium term they are not particularly dependent on the stock market.
Capitalization of the crypto market $1.977 Trillion.
Dominance index 40.1%,
Fear index 24.
The dollar index is above 95.5.
Should I buy Bitcoin now or wait for $38K?
Well that depends on why you got involved in the 1st place. Are you able to stomach and hold incase of a potential -80% downside. Everyone knows about traditional assets for a long time, talk of Gold, Stocks, Realestate, they are at peace with that. Very few people know about the possibilities of Bitcoin. Everyone has heard, but very few understand that it's disrupting the Financial Services and money industry.
Australian, Singaporean and Italian regulators warn that crypto is dangerous. Although it's actually dangerous, what will happen if the leading countries of the world ban Bitcoin? Read here. https://t.me/decryptedge/226
Lastly, Crypto will soon be in Google Pay. After abandoning its Plex banking plans with Google Pay, Google is hiring new executives and pushing a new strategy to compete with Apple Pay. Google Pay will become a "comprehensive digital wallet" that focuses more on non-payment uses like vaccine passports. Google has partnered with crypto companies and platforms, such as BitPay and Coinbase to store the digital assets in the cards of Google Pay. This is to incorporate currencies into its digital services, but doesn't accept crypto payments yet. We shall follow this closely. Source : Android Central
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #google #money #research #payments
‘Financial pyramid’: Russia’s Central Bank Pushes for Crypto Ban.
Thoughts on the market on 21.01. 2022
After the fake out pump of Bitcoin price to $43,500, it took a correction and the January 10th low has been updated to now $38,800. At the time of writing, Bitcoin is worth $39,900.
Market capitalisation $1.88 Trillion.
BTC Dominance index 40.4%,
Fear index 19.
Stock markets continued to fall too to the levels registered October, 2021. The reasons are the same - inflation at highs and the expected reaction of the Fed, as well as growing geopolitical risks. The Fed meeting, where a decision on the rate will be made and further plans announced, will be held on 26.01.2022. Until then, the statements of officials on the topic of further actions by the Fed can change the mood of the markets.
In the cryptomarket, there is fear and panic. Weak hands will give away their bitcoin cheaply and strong hands will pick it up or rather smart money is exiting the market.
What to do?
When there is fear and panic in the market, it's time to re-adjust, re-align or hold on to your crypto goals. If you buy more or exit to buy in later, it's all up to your strategy. Let's remember March 2020. Those who then had the courage to make the right decision were rewarded at their true worth.
Russia’s central bank has proposed banning the use and mining of cryptocurrencies on Russian territory, citing threats to financial stability, citizens’ wellbeing and its monetary policy sovereignty. The move is the latest in a global cryptocurrency crackdown as governments from Asia to the United States worry that privately operated and highly volatile digital currencies could undermine their control of financial and monetary systems. Russia has argued for years against cryptocurrencies, saying they could be used in money laundering or to finance terrorism. It eventually gave them legal status in 2020 but banned their use as a means of payment.
In a report published yesterday, Russia's central bank said speculative demand primarily determined cryptocurrencies’ rapid growth and that they carried characteristics of a financial pyramid, warning of potential bubbles in the market, threatening financial stability and citizens.
It is clear that such a justification does not stand up to scrutiny. For illegal activities, fiat is used much more often, and what I think about “protecting investors from risks”
Cryptocurrencies are legal in Switzerland, Japan and Singapore, and banned in Syria, Egypt, Kyrgyzstan. Where such an initiative of the Central Bank leads Russia, I think, is clear to everyone. Here's what market participants think about it.
So in closing, our personal opinion, biased view, subject to fail: Nothing new, we still take the bearish side as long as btc below $55K/ $65K weekly, and about the current movement as we said since 22 Nov when BTC was at $60K (https://t.me/decryptedge/860) "we looking for a breakdown in Q1 of 2022 to $40(breakdown already happened) next level is 35/32K/28K!"
Important dates for BTC: let us watch the Bulls & Bears performance on these dates: 21 Jan (Bears have successfully broken $40K after 13 Days of holding above it) https://t.me/decryptedge/952. Next dates are 27 Jan, 3 Feb and 13 Feb. These dates do not tell you to buy or sell, but you can use it in your TA as a time factor for patterns, trends.
Our view might be right or wrong , so be sure to do your own research. Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy: Theage.
Thoughts on the market on 21.01. 2022
After the fake out pump of Bitcoin price to $43,500, it took a correction and the January 10th low has been updated to now $38,800. At the time of writing, Bitcoin is worth $39,900.
Market capitalisation $1.88 Trillion.
BTC Dominance index 40.4%,
Fear index 19.
Stock markets continued to fall too to the levels registered October, 2021. The reasons are the same - inflation at highs and the expected reaction of the Fed, as well as growing geopolitical risks. The Fed meeting, where a decision on the rate will be made and further plans announced, will be held on 26.01.2022. Until then, the statements of officials on the topic of further actions by the Fed can change the mood of the markets.
In the cryptomarket, there is fear and panic. Weak hands will give away their bitcoin cheaply and strong hands will pick it up or rather smart money is exiting the market.
What to do?
When there is fear and panic in the market, it's time to re-adjust, re-align or hold on to your crypto goals. If you buy more or exit to buy in later, it's all up to your strategy. Let's remember March 2020. Those who then had the courage to make the right decision were rewarded at their true worth.
Russia’s central bank has proposed banning the use and mining of cryptocurrencies on Russian territory, citing threats to financial stability, citizens’ wellbeing and its monetary policy sovereignty. The move is the latest in a global cryptocurrency crackdown as governments from Asia to the United States worry that privately operated and highly volatile digital currencies could undermine their control of financial and monetary systems. Russia has argued for years against cryptocurrencies, saying they could be used in money laundering or to finance terrorism. It eventually gave them legal status in 2020 but banned their use as a means of payment.
In a report published yesterday, Russia's central bank said speculative demand primarily determined cryptocurrencies’ rapid growth and that they carried characteristics of a financial pyramid, warning of potential bubbles in the market, threatening financial stability and citizens.
It is clear that such a justification does not stand up to scrutiny. For illegal activities, fiat is used much more often, and what I think about “protecting investors from risks”
Cryptocurrencies are legal in Switzerland, Japan and Singapore, and banned in Syria, Egypt, Kyrgyzstan. Where such an initiative of the Central Bank leads Russia, I think, is clear to everyone. Here's what market participants think about it.
So in closing, our personal opinion, biased view, subject to fail: Nothing new, we still take the bearish side as long as btc below $55K/ $65K weekly, and about the current movement as we said since 22 Nov when BTC was at $60K (https://t.me/decryptedge/860) "we looking for a breakdown in Q1 of 2022 to $40(breakdown already happened) next level is 35/32K/28K!"
Important dates for BTC: let us watch the Bulls & Bears performance on these dates: 21 Jan (Bears have successfully broken $40K after 13 Days of holding above it) https://t.me/decryptedge/952. Next dates are 27 Jan, 3 Feb and 13 Feb. These dates do not tell you to buy or sell, but you can use it in your TA as a time factor for patterns, trends.
Our view might be right or wrong , so be sure to do your own research. Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy: Theage.
Telegram
KryptoEdge
#ElSalvador to Issue $1 Billion #Bitcoin Bond to Fund '#BitcoinCity' Thoughts on the market 22.11. 2021
Over the weekend, #bitcoin continued its short recovery to 59,700, on Sunday it managed to reach 60029 (Binance). Thereafter it took a down correction…
Over the weekend, #bitcoin continued its short recovery to 59,700, on Sunday it managed to reach 60029 (Binance). Thereafter it took a down correction…
Another ATH on Total #Crypto Liquidations, $1.13Billion #Rekt Last 24 Hours!
Bitcoin continues its support at 38000-37500, which held during the American wall street session, were all broken after the end of the session. It reached a low of $35,366, after which a small bounce up followed, now trading at $35,720.
Crypto Market capitalisation $1.70 Trillion,
BTC Dominance index 40.6%,
Fear index 13.
The dollar index is above 95.6, the volatility index is heading to the highs, which suggests that the market storm is not over yet.
Fed meeting will be held on January 25-26. I think that until this moment the situation in the markets will not change significantly.
When it rains it pours, another blow to the crypto market was dealt by the Reuters agency, which published an investigation about Binance. As for me, it pretty much gives more fuel to FUD. It does not contain anything previously unknown, but the information is presented in such a way as to present the largest crypto exchange and its leader as a bunch of villains who deceive regulators around the world and launder money.
Ukraine and Russia are also named countries where the risk of money laundering is extreme, and Binance is accused of working with clients from these countries (as if other exchanges, and not only cryptocurrencies, do not work with them).
Almost half of the investigation is devoted to the fact that the accomplices of the terrorist who staged the execution in Vienna in November 2020 were found to have a code to enter Binance, from which it is concluded that the exchange was used to finance the attack. Only the Austrian Interior Ministry stated that the terrorist had no accomplices.
CZ gave the answer via his Twitter account: FUD. Journalists talking to people who were let go from Binance and partners that didn’t work out trying to smear us. We are focused on anti-money laundering, transparent and welcome regulation. Action speaks louder than words. Thank you for your unwavering support!.
In general, FUD coming up just after breaking through the important psychological level of 40K and after the close of the American session, in the thin market of the weekend, meant one thing. The goal has been achieved - Bitcoin has failed to almost 35K, and has a chance to go to 30K if the topic is developed further. (We have the dates to look out for here: https://t.me/decryptedge/968). So for today we squeeze in the tight range of $36,800- $ 35,000. Any exit on either level may cause more rekt.
Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy: Coinglass.
Bitcoin continues its support at 38000-37500, which held during the American wall street session, were all broken after the end of the session. It reached a low of $35,366, after which a small bounce up followed, now trading at $35,720.
Crypto Market capitalisation $1.70 Trillion,
BTC Dominance index 40.6%,
Fear index 13.
The dollar index is above 95.6, the volatility index is heading to the highs, which suggests that the market storm is not over yet.
Fed meeting will be held on January 25-26. I think that until this moment the situation in the markets will not change significantly.
When it rains it pours, another blow to the crypto market was dealt by the Reuters agency, which published an investigation about Binance. As for me, it pretty much gives more fuel to FUD. It does not contain anything previously unknown, but the information is presented in such a way as to present the largest crypto exchange and its leader as a bunch of villains who deceive regulators around the world and launder money.
Ukraine and Russia are also named countries where the risk of money laundering is extreme, and Binance is accused of working with clients from these countries (as if other exchanges, and not only cryptocurrencies, do not work with them).
Almost half of the investigation is devoted to the fact that the accomplices of the terrorist who staged the execution in Vienna in November 2020 were found to have a code to enter Binance, from which it is concluded that the exchange was used to finance the attack. Only the Austrian Interior Ministry stated that the terrorist had no accomplices.
CZ gave the answer via his Twitter account: FUD. Journalists talking to people who were let go from Binance and partners that didn’t work out trying to smear us. We are focused on anti-money laundering, transparent and welcome regulation. Action speaks louder than words. Thank you for your unwavering support!.
In general, FUD coming up just after breaking through the important psychological level of 40K and after the close of the American session, in the thin market of the weekend, meant one thing. The goal has been achieved - Bitcoin has failed to almost 35K, and has a chance to go to 30K if the topic is developed further. (We have the dates to look out for here: https://t.me/decryptedge/968). So for today we squeeze in the tight range of $36,800- $ 35,000. Any exit on either level may cause more rekt.
Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy: Coinglass.
Telegram
KryptoEdge
‘Financial pyramid’: Russia’s Central Bank Pushes for Crypto Ban.
Thoughts on the market on 21.01. 2022
After the fake out pump of Bitcoin price to $43,500, it took a correction and the January 10th low has been updated to now $38,800. At the time of writing…
Thoughts on the market on 21.01. 2022
After the fake out pump of Bitcoin price to $43,500, it took a correction and the January 10th low has been updated to now $38,800. At the time of writing…
New York City Mayor Eric Adams says his first Paycheck on Friday will be converted to Bitcoin and Ether via Coinbase.
Thoughts on the market on 24.01.2022
Bitcoin held above 35K over the weekend, with 3 attempts to go lower. With the opening of the markets, Bitcoin began to grow, which saw a sell off from 36300-36500. It is now trading around $35,600- $35,500.
Crypto Market capitalization $1.63 Trillion,
BTC Dominance index 41.3%,
Fear index 13.
The mood in the stock markets has not changed, all awaiting the Fed meeting, which will be held on January 25-26. There will be no significant changes as markets are expecting a rise in the balance sheet reduction rate and comments that such a policy is serious and for a long time.
Nonetheless, everything can be different
On the crypto market, after updating local lows on Saturday, the situation has stabilised.
Attempts to go below 35K were bought out, but no serious attempts to return above 37500 - growth ended in the $36,300- $36,500 area.
Whether Bitcoin goes above 40K right now, or first towards 30K, depends solely on external factors. The probability of going to 30K will decrease if Bitcoin is firmly fixed above $36,500.
In addition to information from the Fed, the crypto market may shake up the Tesla report, which is expected on January 26. We must understand that for the medium-term prospects of Bitcoin, it doesn't really matter whether it goes to 50K immediately, or first goes to 30K. The right actions are to accumulate an asset, avoid margin trading, not give in to fear and not to have weak hands. Keep in mind that the number of BTC OTC has approached $17 MILLION. That's a clue right there.
Of interest - Turkish President Erdogan met with the President of El Salvador. Perhaps, strong changes are being prepared in relation to cryptocurrencies in Turkey.
Considering that the lira has fallen by almost 40% against the dollar, the legalisation of Bitcoin in Turkey will simply cement the status quo:
Lastly the mayor of New York prefers to be paid in Bitcoin and Ether, rather than in fiat. We have been saying for more than a year that you should only keep in fiat what you can afford to lose: New York City Mayor Eric Adams will receive his first paycheck as the city's highest official Friday, and he will convert it into bitcoin and ether through top US crypto exchange Coinbase.
The announcement fulfills the pledge Adams made in November when he said he will take his first three paychecks in bitcoin.
Wishing you a great week ahead and Always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge.
Thoughts on the market on 24.01.2022
Bitcoin held above 35K over the weekend, with 3 attempts to go lower. With the opening of the markets, Bitcoin began to grow, which saw a sell off from 36300-36500. It is now trading around $35,600- $35,500.
Crypto Market capitalization $1.63 Trillion,
BTC Dominance index 41.3%,
Fear index 13.
The mood in the stock markets has not changed, all awaiting the Fed meeting, which will be held on January 25-26. There will be no significant changes as markets are expecting a rise in the balance sheet reduction rate and comments that such a policy is serious and for a long time.
Nonetheless, everything can be different
On the crypto market, after updating local lows on Saturday, the situation has stabilised.
Attempts to go below 35K were bought out, but no serious attempts to return above 37500 - growth ended in the $36,300- $36,500 area.
Whether Bitcoin goes above 40K right now, or first towards 30K, depends solely on external factors. The probability of going to 30K will decrease if Bitcoin is firmly fixed above $36,500.
In addition to information from the Fed, the crypto market may shake up the Tesla report, which is expected on January 26. We must understand that for the medium-term prospects of Bitcoin, it doesn't really matter whether it goes to 50K immediately, or first goes to 30K. The right actions are to accumulate an asset, avoid margin trading, not give in to fear and not to have weak hands. Keep in mind that the number of BTC OTC has approached $17 MILLION. That's a clue right there.
Of interest - Turkish President Erdogan met with the President of El Salvador. Perhaps, strong changes are being prepared in relation to cryptocurrencies in Turkey.
Considering that the lira has fallen by almost 40% against the dollar, the legalisation of Bitcoin in Turkey will simply cement the status quo:
Lastly the mayor of New York prefers to be paid in Bitcoin and Ether, rather than in fiat. We have been saying for more than a year that you should only keep in fiat what you can afford to lose: New York City Mayor Eric Adams will receive his first paycheck as the city's highest official Friday, and he will convert it into bitcoin and ether through top US crypto exchange Coinbase.
The announcement fulfills the pledge Adams made in November when he said he will take his first three paychecks in bitcoin.
Wishing you a great week ahead and Always remember, you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge.
Thoughts on the market on 25.01.2022
Bitcoin updated a low of $32,850 during the day, followed by a bounce back to $37,520.It is now trading at about $36,996.
Total Crypto Market capitalization $1.62 Trillion,
BTC Dominance Index 42.1%,
Fear index 12.
The stock market is becoming more and more like the crypto market of 2017. Strong volatility, unprecedented dynamics of ups and downs of individual securities (for example, Netflix, whose shares have lost more than 20% over the past few days, as if these are not shares of a company with a capitalization of 23 billion, but some kind of Shiba Inu.
Today is the first day of the Fed meeting and also reports from Microsoft, Johnson and Johnson, American Express, and a number of other large companies.
What can happen? Everything.
It was a good day on the crypto market yesterday. Despite the update of Bitcoin lows, we saw what I have been talking about for a long time - a break in the correlation between Bitcoin and the stock market. The growth of Bitcoin from the lows reached began much earlier than in the S&P 500 and other US indices. Everything looked as if the indices followed Bitcoin.
But really, no one followed anyone. It’s just that the direct correlation of Bitcoin with the stock market does not make any economic sense, it arose situationally in 2020. At the moment Bitcoin is in no hurry to react to the falling futures on the S&P 500.
A hike to 30K/28K is in view, as are the days when the stock market trends will repeat on the crypto market. More and more market participants are beginning to understand that Bitcoin is not Apple stock, but an asset of a completely different kind, there is much more certainty in his prospects.
Anything can happen on the crypto market today and tomorrow. The basic scenarios:
Option 1 going below 35K, eventually after Option 2, Confident fixing above 36500. Which is a bear trap.
Lastly, The author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says he will buy more bitcoin if and when the price of the cryptocurrency tests $20K. He noted that bitcoin’s price crashing is “great news,” adding that the “Time to get richer is coming.” How many people listen, follow and read his recommendation and advice?
Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy: Bitcoin.com
Bitcoin updated a low of $32,850 during the day, followed by a bounce back to $37,520.It is now trading at about $36,996.
Total Crypto Market capitalization $1.62 Trillion,
BTC Dominance Index 42.1%,
Fear index 12.
The stock market is becoming more and more like the crypto market of 2017. Strong volatility, unprecedented dynamics of ups and downs of individual securities (for example, Netflix, whose shares have lost more than 20% over the past few days, as if these are not shares of a company with a capitalization of 23 billion, but some kind of Shiba Inu.
Today is the first day of the Fed meeting and also reports from Microsoft, Johnson and Johnson, American Express, and a number of other large companies.
What can happen? Everything.
It was a good day on the crypto market yesterday. Despite the update of Bitcoin lows, we saw what I have been talking about for a long time - a break in the correlation between Bitcoin and the stock market. The growth of Bitcoin from the lows reached began much earlier than in the S&P 500 and other US indices. Everything looked as if the indices followed Bitcoin.
But really, no one followed anyone. It’s just that the direct correlation of Bitcoin with the stock market does not make any economic sense, it arose situationally in 2020. At the moment Bitcoin is in no hurry to react to the falling futures on the S&P 500.
A hike to 30K/28K is in view, as are the days when the stock market trends will repeat on the crypto market. More and more market participants are beginning to understand that Bitcoin is not Apple stock, but an asset of a completely different kind, there is much more certainty in his prospects.
Anything can happen on the crypto market today and tomorrow. The basic scenarios:
Option 1 going below 35K, eventually after Option 2, Confident fixing above 36500. Which is a bear trap.
Lastly, The author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says he will buy more bitcoin if and when the price of the cryptocurrency tests $20K. He noted that bitcoin’s price crashing is “great news,” adding that the “Time to get richer is coming.” How many people listen, follow and read his recommendation and advice?
Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy: Bitcoin.com
#IMF Recommends El Salvador to remove Law on #Bitcoin’s Legal Tender Status.
Thoughts on the market on 26.01. 2022
Bitcoin has been moving in the range of 35,700-37,550, with attempts to gain a foothold above $37,500 has not been successful yet, it is now trading around $37,500.
Total Crypto-Market capitalization $1.666 Trillion,
BTC Dominance Index 42%,
Fear index 23.
Markets are waiting for the outcome of the Fed meeting. Expected - a rate hike in March, and 3-4 rate hikes in 2022, as well as the cessation of asset buybacks and a reduction in the balance sheet from June.
Anything better than these expectations will push the markets higher. If the reality is tougher (stronger rate hikes and easing of stimulus), the decline seen over the past week will continue. Information on the results of the meeting will be released at 10pm Kenya time, Powell's press conference - at 10:30pm.
Bitcoin has since so far been holding above 36500 for almost 12 hours, altcoins have a good bounce up after the drain on Monday. Most importantly, the continuation of the decline in correlation with the stock market is positive.
That was reflected and recorded yesterday on the crypto market. The fact that the correlation of the crypto market with the stock market has no grounds and will soon be broken.
So far, option 1 from here (falling to 30K/28K) cannot be ruled out. There have already been two unsuccessful attempts to consolidate above 37500, and the third attempt, combined with some external negative. Balances on the exchanges continue to decline, the actions of large players and the general economic situation leave no doubts about the medium-term prospects of Bitcoin.
For today, the bitcoin price may be affected by Tesla's report, which owns about $1.5 billion. The most likely option for today is to fix above 37500 with continued upward movement to $39,500 then some fireworks.
Lastly to some news, MicroStrategy is going to continue to buy Bitcoin. At the moment they have 124,391 BTC and are not going to sell it.
During El Salvador’s IMF Executive Board consultation with El Salvador, the directors agreed on the importance of boosting financial inclusion and noted that digital means of payment—such as the Chivo e-wallet—could play this role. However, they emphasized the need for strict regulation and oversight of the new ecosystem of Chivo and Bitcoin. They stressed that there are large risks associated with the use of Bitcoin on financial stability, financial integrity, and consumer protection, as well as the associated fiscal contingent liabilities. They urged the authorities to narrow the scope of the Bitcoin law by removing Bitcoin’s legal tender status. Some Directors also expressed concern over the risks associated with issuing Bitcoin-backed bonds.
In response President Nayib Bukele on his official twitter handle posted a GIF from the Simpsons with the words I see you IMF, that's very nice.
Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
Thoughts on the market on 26.01. 2022
Bitcoin has been moving in the range of 35,700-37,550, with attempts to gain a foothold above $37,500 has not been successful yet, it is now trading around $37,500.
Total Crypto-Market capitalization $1.666 Trillion,
BTC Dominance Index 42%,
Fear index 23.
Markets are waiting for the outcome of the Fed meeting. Expected - a rate hike in March, and 3-4 rate hikes in 2022, as well as the cessation of asset buybacks and a reduction in the balance sheet from June.
Anything better than these expectations will push the markets higher. If the reality is tougher (stronger rate hikes and easing of stimulus), the decline seen over the past week will continue. Information on the results of the meeting will be released at 10pm Kenya time, Powell's press conference - at 10:30pm.
Bitcoin has since so far been holding above 36500 for almost 12 hours, altcoins have a good bounce up after the drain on Monday. Most importantly, the continuation of the decline in correlation with the stock market is positive.
That was reflected and recorded yesterday on the crypto market. The fact that the correlation of the crypto market with the stock market has no grounds and will soon be broken.
So far, option 1 from here (falling to 30K/28K) cannot be ruled out. There have already been two unsuccessful attempts to consolidate above 37500, and the third attempt, combined with some external negative. Balances on the exchanges continue to decline, the actions of large players and the general economic situation leave no doubts about the medium-term prospects of Bitcoin.
For today, the bitcoin price may be affected by Tesla's report, which owns about $1.5 billion. The most likely option for today is to fix above 37500 with continued upward movement to $39,500 then some fireworks.
Lastly to some news, MicroStrategy is going to continue to buy Bitcoin. At the moment they have 124,391 BTC and are not going to sell it.
During El Salvador’s IMF Executive Board consultation with El Salvador, the directors agreed on the importance of boosting financial inclusion and noted that digital means of payment—such as the Chivo e-wallet—could play this role. However, they emphasized the need for strict regulation and oversight of the new ecosystem of Chivo and Bitcoin. They stressed that there are large risks associated with the use of Bitcoin on financial stability, financial integrity, and consumer protection, as well as the associated fiscal contingent liabilities. They urged the authorities to narrow the scope of the Bitcoin law by removing Bitcoin’s legal tender status. Some Directors also expressed concern over the risks associated with issuing Bitcoin-backed bonds.
In response President Nayib Bukele on his official twitter handle posted a GIF from the Simpsons with the words I see you IMF, that's very nice.
Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy: