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

‘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.

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.

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 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

#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:

Russia Reconsiders Stand on Crypto Ban.

Thoughts on the market on 27.01. 2022

Bitcoin, attained a high of $38,946 and then it began to decline, it is now trading around $35,700- $35,800.
Total Crypto Market capitalization $1.61 Trillion,
BTC dominance index 42.0%,
Fear index 20.

In anticipation of the Fed meeting, the markets grew and closed not so optimistically. The results of the Fed meeting as a whole were expected. The rate is likely to be raised in March. Reducing the balance sheet will begin after the rate increase, but there will be more information on the balance reduction at the next meeting.From what Powell said, it is good for the markets that the decision on the Fed's balance sheet has not yet been made, notably he comments that the Fed's balance sheet is much larger than it should be, will not sit well.

The markets reacted to the Fed's rhetoric by falling from the levels reached during the session, Tesla reported better than expected, but after the markets closed. The market will finally decide on the direction of movement today.

Russia has been talking about a probable Cryptocurrency ban, even termed it Financial Pyramind(https://t.me/decryptedge/968) Events seems to have taken a turn, Vladimir Putin now says that the Central Bank does not stand in the way of technical progress, on the contrary, it advocates new technologies, Russia has a strong human resource potential and competitive advantages in the field of mining. The Central Bank and the government should come to a consensus on the crypto market and report on the results.

It is clear that after such input the result will be correct). There will be no ban on crypto, Russia will not be included in the bundle of countries that have banned crypto like Egypt, Syria and Kyrgyzstan.

Bitcoin worked out the priority version our yesterday’s review during the day, updating the highs above $38,880, it did not break through to $39K. It has since broken down $35,535, which has respected the support at $35,700- $35,800 area. As long as the price of Bitcoin is held above this support, option 2 from here is the priority, i.e. return above 37500 with subsequent attempts to take 40K.

Loss of support at 35700-35800 could lead to another bottom test. This option will be an opportunity to refuel those who did not have time to do it the first time.There are still risks in alts, due to the low dominance of Bitcoin, which may soon end.

Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:

Mystery of the ”Lost” Bulgarian Bitcoins Sparks Questions Again as $2 billion Worth of Options are set to expire Today. Thoughts on the market on 28.01.2022

Bitcoin moved in the range of $35,550- $37,550 during the day, at night there were attempts to take $37,500, but unsuccessful and at the time of writing the review, Bitcoin is trading around $37,200

Crypto Market capitalisation $1.65 Trillion,
BTC dominance Index: 42.1%,
Fear index 24.
The dollar index rose above 97, these levels were last registered in the first half of 2020, at the wake of corona psychosis.

The market is still digesting the results of the Fed meeting. The main threat is rising inflation, which the regulator would like to return to the level of 2%, but the FED understands that this is unrealistic in the current situation. So far, it has been stated that the Fed is calm about the correction in the markets, and believes that asset prices are somewhat overpriced.
It is clear that such rhetoric sends the market to look for a bottom.

Where is the bottom, guess we shall find out soon.

Bitcoin tried twice approaching the lower border of the range, but it was actively redeemed.
More price volatility is expected as $2 billion worth of options are set to expire today. Although some analysts expect BTC's price to trade closer to the $42,000, or the strike price with the most open options contracts. Uncertainty in the options market could lead to more price swings, creating difficulties for some traders who rely on stable price trends.

So as we leave for the weekend with Bitcoin in the current range, or even better - with Bitcoin above 37500, we will see the growth of altcoins, but this is short-term. The bigger outlook with altcoins is not good.

With Bitcoin above 35K, the priority option 2 is to take out $37,500, with a further attempt to take 40K. In case support at $35,500 fails, all the above will be irrelevant and option 1 will thrive https://t.me/decryptedge/974 There is a certain confusion regarding confiscated bitcoins worth about $20 billion in Bulgaria, will update as this unfolds. More news on this will fuel option 1.

By the way, Tesla, according to their report, did not sell any Bitcoins. Most probably, Elon Musk will soon say what he thinks about Bitcoin in the current situation. MicroStrategy has already expressed its position. While people with money know the value of this asset, working ahead of the curve, most people do not have Bitcoin, and even a bigger number think it's a big scam and support its ban.

Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:

MicroStrategy World 2022: 100% Virtual, 100% Free. Enterprise Analytics • Digital Transformation • Bitcoin Strategy. Thoughts on the market as of 31.01.2022

Over the weekend Bitcoin price worked out the priority option here (https://t.me/decryptedge/980). Price tried to go above 38200, but this did not lead to success and ended with Bitcoin dropping to 36800, where intermediate support was found. Bitcoin is currently trading at around 37,000.

Total Crypto Market capitalization: $1.67 billion,
BTC Dominance index: 41.9%,
Fear index: 20.

The stock market is again whipping up panic, talks about raising the rate by 0.5% at once.

For today - Bitcoin is holding above $35,500- $38,000 and is trying to gain a foothold above 38K. An alternative option is to go to the side of 33K.

February 1, there will be a conference: MicroStrategy World 2022 & Bitcoin for Corporations. Dorsey (Twitter owner and big Bitcoin investor) will be there too. I think there will be interesting statements made there that could serve as a reason for taking $40,000, quite a herculean task if you ask me. If interested to attend register here: https://www.microstrategy.com/en/world-2022

That's all for today.

Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:

MicroStrategy World 2022: Register here: https://www.microstrategy.com/en/world-2022
Note: (Must have work email! Gmail, hotmail, yahoo mail don't work)

#India Plans To Regulate Cryptocurrencies With A Hefty 30% #Tax On Gains. Thoughts On the CryptoMarket.

The biggest development yesterday was India’s clarity on crypto taxation. This will change a lot of misconceptions around crypto assets and has paved the way forward to classifying them as a separate asset class,” A much needed view and recognition to the crypto ecosystem of India and a precedent to other nations. This development removes any ambiguity for banks and they can now provide financial services to India's crypto industry. As much as this is encouraging to see that the government has taken a positive step towards regulating digital assets, lets drill in to the details: investors will have to pay up 30 per cent tax on the returns they make from trading or investing in cryptocurrencies or other digital assets such as NFTs. Any losses from transfer of virtual digital assets cannot be set off against any other income, according to the announcement.

Looking back, India had considered a 18% GST on Bitcoin Transactions. We have been following this closely since October 2020: (https://t.me/decryptedge/162).

Higher taxation can be counter productive in the long run but this is only a temporary measure to contain unorganised trade and transfer of cryptocurrency. India also decided to charge 1% TDS on every crypto transaction - a master stroke of sorts - to bring all transactions into the "income tax net" - which should help prepare grounds for the ultimate banning of crypto when CBDC is launched in 2023. If you are wondering TDS means (Tax Deducted at Source.) This is India's way of saying "#cryptocurrencies, you are not welcome - and btw there is no free lunch".

What will be Kenya's take?

Bitcoin is doing nothing but moving within the range of $35,000 - $38,000. Yesterday we did not post the review.

Market capitalisation: 1.86 Trillion,
Dominance index 41.06%,
Fear index 28.

Despite the Fed's aggressive rhetoric about fighting inflation, reducing the balance sheet and other things that are unpleasant for the markets. Fed spokesman Bostic, said that it is no longer possible to delay the reduction of the balance sheet. But this has not scared the markets yet, the S&P 500 futures are holding above 4500.

With Bitcoin now above 38K is good, however the fact that we can’t break through $38,500 for a long time indicates the possibility of a rebound towards $36,800. If this level does not hold, the next support is at 35500. Perhaps the reason for the drain will be manipulations with $94K BTC, which were taken away from Bitfinex back in 2016.

The positive from the MicroStrategy conference can help Bitcoin take $40K.Today is the second day. Probable scenario is Bitcoin remains in the range of $38,500 - $35,500.

Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy: