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:
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:
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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…
Bitcoin moved in the range of $35,550- $37,550 during the day, at night there were attempts to take…
MicroStrategy World 2022: Register here: https://www.microstrategy.com/en/world-2022
Note: (Must have work email! Gmail, hotmail, yahoo mail don't work)
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:
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:
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From the trading range of 26200-27300, Bitcoin went up and has been holding above 28K most of the last 8hours, clearly trying to retest the ATH. Total CryptoMarket capitalization at 742 billion and BTC dominance index of 69.9%
Equity markets showed a slight…
Equity markets showed a slight…
Solana Woes Worsen in $320 Million (120,000 wETH) Wormhole Bridge Hack. Thoughts on the market on 03.02.2022.
Bitcoin lost intermediate support at 38200, after which it fell to almost $36,500, now trading around $37,000.
Total Crypto Market capitalisation: $1.70 Trillion,
BTC dominance index 41.1%,
Fear index 20.
Stock markets were up yesterday. Data on the labor market in the US came out much worse than expected - instead of the expected growth of 200K, there was a fall of 301K. Markets, however, grow against such a background. First, such a picture in the labor market may slow down the Fed's plans to reduce the balance sheet and make the rate increase more moderate. Secondly, a good report by Alphabet Inc (Google) and the announcement of an imminent stock split not only ensured the growth of the company's shares by more than 7.5%, but also set the direction for the entire market. Meta Platforms (formerly Facebook) report came out worse than expected, the market reaction to it will be today.
Bitcoin again failed to pass the resistance area of $38,800- $39,200, returning to the old trading range. If support is lost at $36,500, the next support will be $35,500. If the support at 36500 holds, then we remain in the range of $36,500 - $38,800.
DeFi Project Known as Wormhole Hit With a Potential $320 Million Hack. The Protocol serves as a link between Solana and other DeFi networks. 120,000 wETH, or so-called wrapped Ether, was drained. The vulnerability has been patched, they said in a follow-up post. Later the project offered $10 million to hackers to return the funds. This may contribute to the fall of the market. For example, if assets are quickly drained into the market, as they will not be looking to sell high.
What is Wrapped Ether?, or wETH?, it is a token that represents ETH 1:1 and conforms to the ERC20 token standard. It allows for increased functionality across any application that handles ERC20 tokens. You can always convert your wETH to ETH 1:1 and vice versa.
Crypto platforms have faced a number of high-value exploits in recent months. This bridge hack is the latest in a lengthening list of woes for Solana which includes 4 network outages in as many months. Solana has often been touted as an “Ethereum killer” but this latest setback in addition to the multiple network and performance issues it has recently suffered. We are still early in Crypto, so much of this is expected before we see full proof projects, good to note Bitcoin has had unsuccessful multiple attacks 13 years down the line, largely due to its decentralised nature, open-source and censorship resistant traits.
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 lost intermediate support at 38200, after which it fell to almost $36,500, now trading around $37,000.
Total Crypto Market capitalisation: $1.70 Trillion,
BTC dominance index 41.1%,
Fear index 20.
Stock markets were up yesterday. Data on the labor market in the US came out much worse than expected - instead of the expected growth of 200K, there was a fall of 301K. Markets, however, grow against such a background. First, such a picture in the labor market may slow down the Fed's plans to reduce the balance sheet and make the rate increase more moderate. Secondly, a good report by Alphabet Inc (Google) and the announcement of an imminent stock split not only ensured the growth of the company's shares by more than 7.5%, but also set the direction for the entire market. Meta Platforms (formerly Facebook) report came out worse than expected, the market reaction to it will be today.
Bitcoin again failed to pass the resistance area of $38,800- $39,200, returning to the old trading range. If support is lost at $36,500, the next support will be $35,500. If the support at 36500 holds, then we remain in the range of $36,500 - $38,800.
DeFi Project Known as Wormhole Hit With a Potential $320 Million Hack. The Protocol serves as a link between Solana and other DeFi networks. 120,000 wETH, or so-called wrapped Ether, was drained. The vulnerability has been patched, they said in a follow-up post. Later the project offered $10 million to hackers to return the funds. This may contribute to the fall of the market. For example, if assets are quickly drained into the market, as they will not be looking to sell high.
What is Wrapped Ether?, or wETH?, it is a token that represents ETH 1:1 and conforms to the ERC20 token standard. It allows for increased functionality across any application that handles ERC20 tokens. You can always convert your wETH to ETH 1:1 and vice versa.
Crypto platforms have faced a number of high-value exploits in recent months. This bridge hack is the latest in a lengthening list of woes for Solana which includes 4 network outages in as many months. Solana has often been touted as an “Ethereum killer” but this latest setback in addition to the multiple network and performance issues it has recently suffered. We are still early in Crypto, so much of this is expected before we see full proof projects, good to note Bitcoin has had unsuccessful multiple attacks 13 years down the line, largely due to its decentralised nature, open-source and censorship resistant traits.
Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
Coinbase Shares Declined 50%, From All-Time Highs, Meta(facebook) - 27%. Stocks Following Bitcoin’s Ups and Downs. Thoughts on the market on 04.02.2022
In yesterday's review we mentioned that there will be a reaction to the Meta Platforms (former FB) report. It was not long in coming - the shares fell by 26.44% and returned to the levels of December - Jan 2020. For the first time ,CEO Mark Zuckerberg believes Facebook's decline in users is likely due to the boom in popularity of the competitor platform #TikTok. Amazon's report came out better than expected, and after the close of the main trading session, it rose by almost 18%.
Alongside the - 27% fall on Meta(former facebook), Coinbase Shares Declined -50% from an all-time high, which now seems to follow bitcoin’s ups and downs. Roughly nine months ago, Coinbase’s initial public offering (IPO) via a direct listing on Nasdaq launched, and shares swapped for $342 per share on April 16, 2021. I personally mentioned that this was the top of BTC at $63,255 coincidence?. Since then, Coinbase shares have dropped by close to half that value and today, the share is swapping for more than 45% lower at $187 per unit. Yet no one seems to be crying a market crush like they do in crypto!
There is too much money in the market and too many participants who, when making decisions, are guided not by reason, but by emotions - primarily greed and fear. This begets a lot of volatility.
Bitcoin moved within the previous trading range, intermediate support at 36500 is no longer relevant, now it has shifted to 36350-36300 and ready to test the resistance area at 38800-39200 again.
Crypto Market capitalization $1.66 Trillion,
BTC Dominance index: 41.9%,
Fear index 20.
If we leave for the weekend with Bitcoin above $37,500, we are waiting for the growth of altcoins. In this case, there is a chance for a quick capture of 40K. If $37,500 does not hold, a test of new support at $36,300 is likely, and strong move to 35K/34K.
In general, there is a negative bias on alts now because of the low index of Bitcoin dominance. There will be a very selective growth.
With that, wishing you a great weekend ahead. Remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #decryptedge
In yesterday's review we mentioned that there will be a reaction to the Meta Platforms (former FB) report. It was not long in coming - the shares fell by 26.44% and returned to the levels of December - Jan 2020. For the first time ,CEO Mark Zuckerberg believes Facebook's decline in users is likely due to the boom in popularity of the competitor platform #TikTok. Amazon's report came out better than expected, and after the close of the main trading session, it rose by almost 18%.
Alongside the - 27% fall on Meta(former facebook), Coinbase Shares Declined -50% from an all-time high, which now seems to follow bitcoin’s ups and downs. Roughly nine months ago, Coinbase’s initial public offering (IPO) via a direct listing on Nasdaq launched, and shares swapped for $342 per share on April 16, 2021. I personally mentioned that this was the top of BTC at $63,255 coincidence?. Since then, Coinbase shares have dropped by close to half that value and today, the share is swapping for more than 45% lower at $187 per unit. Yet no one seems to be crying a market crush like they do in crypto!
There is too much money in the market and too many participants who, when making decisions, are guided not by reason, but by emotions - primarily greed and fear. This begets a lot of volatility.
Bitcoin moved within the previous trading range, intermediate support at 36500 is no longer relevant, now it has shifted to 36350-36300 and ready to test the resistance area at 38800-39200 again.
Crypto Market capitalization $1.66 Trillion,
BTC Dominance index: 41.9%,
Fear index 20.
If we leave for the weekend with Bitcoin above $37,500, we are waiting for the growth of altcoins. In this case, there is a chance for a quick capture of 40K. If $37,500 does not hold, a test of new support at $36,300 is likely, and strong move to 35K/34K.
In general, there is a negative bias on alts now because of the low index of Bitcoin dominance. There will be a very selective growth.
With that, wishing you a great weekend ahead. Remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #decryptedge
Crypto is here to stay, no question about that. Says Shark Tank’s Kevin O'Leary aka Mr Wonderful. Thoughts on the market as of 07.02. 2022
The weekend went smoothly. Bitcoin worked out the option from the Friday review. Took out 40K and exceeded our expectations, moved to growth and is now trading around 42300-42500.
Crypto Market capitalization $2.03 Trillion,
BTC Dominance index 41.7%,
Fear index 45.
Stock markets opened slightly lower. Futures on the S&P 500 and Asian indices are looking down. The main expected events of the week will be the continuation of the reporting season in the US throughout the week, as well as data on the labor market and inflation on February 10th.
Bitcoin held above $40K over the weekend. There were two waves of selling, but it all ended with quick buybacks around 41K. Yesterday night turned to growth, faced resistance at 42650, and has been in the range of $41700- $42650 for more than 4 hours. Ethereum is fixed above $3000, altcoins are growing, everything is according to the plan. Look out for important dates here(https://t.me/decryptedge/952)
Market capitalization is now at the important level of $2 Trillion, fixing above it is necessary for further growth. Priority option for today - Bitcoin takes $42,650 and tries to gain a foothold above 43K, further depends on the success of this attempt. In case of success, the market capitalization is fixed above $2 trillion, the market continues to grow.
If 43K is not taken today, the price will probably rebound to 41500-41000, with a possible correction to $40,600. The first option is in priority.
According to IntoTheBlock, the number of addresses holding Bitcoin for less than 1 month decreased by 32% in January. That is, those who bought Bitcoin in December - early January on the fall to 40K, with a further fall of the asset towards $30K, sold it in the red. Now they will say that the crypto is a scam, but most will buy Bitcoin again when it is above $50K. Sounds crazy right?
US Senator Ted Cruz, on the contrary, was buying Bitcoin at that time. These are signs of an improvement in the quality of the crypto market audience. He reportedly invested between $15,001 and $50,000 in bitcoin. On the day of purchase, the price of digital gold was between $36,000 and $37,000, according to CoinGecko . Back in October 2021, Cruz suggested that the energy generated from oil and gas production be used to mine bitcoin . In his opinion, this will help to preserve the environment, and the approach can be extended to the whole world.
Recall that during the review of the infrastructure plan in 2021, Cruz spoke out in support of the crypto industry and proposed to cancel the provision aimed at tightening the reporting requirements of “brokers” in the digital asset industry.
On a similar breath, Kevin O'Leary aka Mr. Wonderful sent out a tweet; “Writing is on the wall for public #Bitcoin mining companies that think they can fool investors by buying carbon credits to cover up their dirty, carbon belching ways. Time to declare war on dirty miners I'm calling BS on #carboncredits It's a scam!” Out of curiosity, do we know the importance of carbon credits and why companies care? I would love to hear your thoughts and comments here.
What I like is he starts by saying “Crypto is here to stay, no question about that!”
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
The weekend went smoothly. Bitcoin worked out the option from the Friday review. Took out 40K and exceeded our expectations, moved to growth and is now trading around 42300-42500.
Crypto Market capitalization $2.03 Trillion,
BTC Dominance index 41.7%,
Fear index 45.
Stock markets opened slightly lower. Futures on the S&P 500 and Asian indices are looking down. The main expected events of the week will be the continuation of the reporting season in the US throughout the week, as well as data on the labor market and inflation on February 10th.
Bitcoin held above $40K over the weekend. There were two waves of selling, but it all ended with quick buybacks around 41K. Yesterday night turned to growth, faced resistance at 42650, and has been in the range of $41700- $42650 for more than 4 hours. Ethereum is fixed above $3000, altcoins are growing, everything is according to the plan. Look out for important dates here(https://t.me/decryptedge/952)
Market capitalization is now at the important level of $2 Trillion, fixing above it is necessary for further growth. Priority option for today - Bitcoin takes $42,650 and tries to gain a foothold above 43K, further depends on the success of this attempt. In case of success, the market capitalization is fixed above $2 trillion, the market continues to grow.
If 43K is not taken today, the price will probably rebound to 41500-41000, with a possible correction to $40,600. The first option is in priority.
According to IntoTheBlock, the number of addresses holding Bitcoin for less than 1 month decreased by 32% in January. That is, those who bought Bitcoin in December - early January on the fall to 40K, with a further fall of the asset towards $30K, sold it in the red. Now they will say that the crypto is a scam, but most will buy Bitcoin again when it is above $50K. Sounds crazy right?
US Senator Ted Cruz, on the contrary, was buying Bitcoin at that time. These are signs of an improvement in the quality of the crypto market audience. He reportedly invested between $15,001 and $50,000 in bitcoin. On the day of purchase, the price of digital gold was between $36,000 and $37,000, according to CoinGecko . Back in October 2021, Cruz suggested that the energy generated from oil and gas production be used to mine bitcoin . In his opinion, this will help to preserve the environment, and the approach can be extended to the whole world.
Recall that during the review of the infrastructure plan in 2021, Cruz spoke out in support of the crypto industry and proposed to cancel the provision aimed at tightening the reporting requirements of “brokers” in the digital asset industry.
On a similar breath, Kevin O'Leary aka Mr. Wonderful sent out a tweet; “Writing is on the wall for public #Bitcoin mining companies that think they can fool investors by buying carbon credits to cover up their dirty, carbon belching ways. Time to declare war on dirty miners I'm calling BS on #carboncredits It's a scam!” Out of curiosity, do we know the importance of carbon credits and why companies care? I would love to hear your thoughts and comments here.
What I like is he starts by saying “Crypto is here to stay, no question about that!”
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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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…
KPMG Canada Adds Crypto to Its Balance Sheet. Thoughts on the market as of 08. 02. 2022
Bitcoin worked out the priority option from yesterday's review during the day. It successfully consolidated above 43K.
Total Crypto Market Capitalization $2.01 Trillion,
BTC Dominance index: 41.8%,
Fear index: 48.
Stock indices didn't move much yesterday. Dow Jones remained unchanged, Nasdaq fell 0.58%, S&P 500 fell 0.37% to close at 4483. Meta (FB) continues to fall, yesterday the asset fell by more than 5%. The market is reacting to the fact that for the first time the number of active users in the social network has decreased, as well as to the conflict with the European Union over the protection and transfer of data.
Bitcoin rallied to 43K, reaching levels where it has not been since the beginning of January. Ethereum confidently entrenched above 3000, the market capitalization has overcome the important level of 2 trillion. The fear index returned to the neutral zone, where it had not been for more than a month.
For further growth, Bitcoin needs to consolidate above $45K, which I see as a priority option for today. An alternative option is a decline towards 41500 for refueling, followed by movement in the range for some time.
Interestingly, KPMG (one of the “big four” audit companies) has invested in Bitcoin and Ethereum. KPMG Canada through their official twitter handle wrote “We have just completed an allocation of #cryptoassets to our corporate treasury, our firm’s first of its kind investment in the asset class. This includes Bitcoin and Ethereum tokens, and carbon offsets to maintain a net-zero carbon transaction:” Talked about carbon credit yesterday, coincidentally. A new bitcoin-linked ETF by the name Valkyrie Bitcoin Miners ETF received approval yesterday for listing on the Nasdaq exchange, according to a Monday filing with the Securities and Exchange Commission. With this allocation, KPMG joins the ranks of major companies holding crypto on their balance sheet. The group includes software company MicroStrategy (MSTR), electric car giant Tesla (TSLA) and payment firm Square (SQ).
What are carbon credits? It's a permit which allows a country or organisation to produce a certain amount of carbon emissions and which can be traded if the full allowance is not used. I shall write about this sometime about its effect on crypto. Make sure you part of telegram channel https://t.me/decryptedge will post it here.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
Bitcoin worked out the priority option from yesterday's review during the day. It successfully consolidated above 43K.
Total Crypto Market Capitalization $2.01 Trillion,
BTC Dominance index: 41.8%,
Fear index: 48.
Stock indices didn't move much yesterday. Dow Jones remained unchanged, Nasdaq fell 0.58%, S&P 500 fell 0.37% to close at 4483. Meta (FB) continues to fall, yesterday the asset fell by more than 5%. The market is reacting to the fact that for the first time the number of active users in the social network has decreased, as well as to the conflict with the European Union over the protection and transfer of data.
Bitcoin rallied to 43K, reaching levels where it has not been since the beginning of January. Ethereum confidently entrenched above 3000, the market capitalization has overcome the important level of 2 trillion. The fear index returned to the neutral zone, where it had not been for more than a month.
For further growth, Bitcoin needs to consolidate above $45K, which I see as a priority option for today. An alternative option is a decline towards 41500 for refueling, followed by movement in the range for some time.
Interestingly, KPMG (one of the “big four” audit companies) has invested in Bitcoin and Ethereum. KPMG Canada through their official twitter handle wrote “We have just completed an allocation of #cryptoassets to our corporate treasury, our firm’s first of its kind investment in the asset class. This includes Bitcoin and Ethereum tokens, and carbon offsets to maintain a net-zero carbon transaction:” Talked about carbon credit yesterday, coincidentally. A new bitcoin-linked ETF by the name Valkyrie Bitcoin Miners ETF received approval yesterday for listing on the Nasdaq exchange, according to a Monday filing with the Securities and Exchange Commission. With this allocation, KPMG joins the ranks of major companies holding crypto on their balance sheet. The group includes software company MicroStrategy (MSTR), electric car giant Tesla (TSLA) and payment firm Square (SQ).
What are carbon credits? It's a permit which allows a country or organisation to produce a certain amount of carbon emissions and which can be traded if the full allowance is not used. I shall write about this sometime about its effect on crypto. Make sure you part of telegram channel https://t.me/decryptedge will post it here.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
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#Bitcoin & Digital Assets Beyond the Hype!
Daily insights, overview and filter summarized #Crypto global updates.
Admins: @DkryptoL Website: https://decryptedge.com/
Daily insights, overview and filter summarized #Crypto global updates.
Admins: @DkryptoL Website: https://decryptedge.com/
US Seizes 94,636 Bitcoin From 2016 Bitfinex Hack in 'Largest Crypto Seizure to Date' — 2 People/ Couple Arrested. Thoughts on the market on 09.02.2022
The Department of Justice (DOJ) announced Tuesday that the U.S. government has seized stolen cryptocurrency directly linked to the 2016 hack of the cryptocurrency exchange Bitfinex.
According to the announcement, this is the DOJ’s “largest cryptocurrency seizure to date, valued at more than $3.6 billion” at the time of the seizure. At the time of writing, the value of the BTC seized is more than $4 billion.
The Department of Justice wrote: Thus far, law enforcement has seized over $3.6 billion in cryptocurrency linked to that hack. Two people — Ilya Lichtenstein, 34, and his wife, Heather Morgan, 31 — have been arrested for “alleged conspiracy to launder $4.5 billion in stolen cryptocurrency” from the Bitfinex hack. Specifically, court documents show that they “allegedly conspired to launder the proceeds of 119,754 bitcoin” that were stolen from the cryptocurrency exchange. Going by their social media profiles, Heather Morgan, verified twitter handle reads, Serial entrepreneur, #SaaS Investor, Surrealist Artist, Rapper & Fashion Designer with synesthesia, Also #Forbes writer! Nickname “Dutch” Ilya Lichtenstein LinkedIn in profile reads, Technology entrepreneur, coder and investor. Interested in blockchain technology, automation, and big data. Looks can be indeed deceiving,
The decline of Meta (FB), the reasons for which were discussed yesterday, continues, even in a growing market. TESLA, in its annual report, which was filed with the SEC on Feb. 7, confirmed ownership of $1.99 billion worth of Bitcoin and said they believe in the long-term potential of digital assets, both as an investment and as an alternative to fiat. No mention of Dogecoin. The reporting season continues, reports from Disney, UBER, CME Group will be released today. the
Bitcoin's overnight rally ended just above $43,00 followed by a slight correction and stall at around $43K. For today, an attempt to take $45K is a priority option. In case of an unfavourable external background, price may drop below the support area at $43,000- $42700.
Lastly, two comments stood out for me today, first by the FBI Deputy Director Paul M. Abbate who stated “Today’s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead.” and secondly by Deputy Attorney General Lisa O. Monaco: “Today’s arrests, and the department’s largest financial seizure ever, show that cryptocurrency is not a safe haven for criminals.” Quite a huge contrary on what is peddled out by the mainstream media. I rest my case.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy: #blockchain #cryptocurrency #socialmedia #digital #research #hacking
The Department of Justice (DOJ) announced Tuesday that the U.S. government has seized stolen cryptocurrency directly linked to the 2016 hack of the cryptocurrency exchange Bitfinex.
According to the announcement, this is the DOJ’s “largest cryptocurrency seizure to date, valued at more than $3.6 billion” at the time of the seizure. At the time of writing, the value of the BTC seized is more than $4 billion.
The Department of Justice wrote: Thus far, law enforcement has seized over $3.6 billion in cryptocurrency linked to that hack. Two people — Ilya Lichtenstein, 34, and his wife, Heather Morgan, 31 — have been arrested for “alleged conspiracy to launder $4.5 billion in stolen cryptocurrency” from the Bitfinex hack. Specifically, court documents show that they “allegedly conspired to launder the proceeds of 119,754 bitcoin” that were stolen from the cryptocurrency exchange. Going by their social media profiles, Heather Morgan, verified twitter handle reads, Serial entrepreneur, #SaaS Investor, Surrealist Artist, Rapper & Fashion Designer with synesthesia, Also #Forbes writer! Nickname “Dutch” Ilya Lichtenstein LinkedIn in profile reads, Technology entrepreneur, coder and investor. Interested in blockchain technology, automation, and big data. Looks can be indeed deceiving,
The decline of Meta (FB), the reasons for which were discussed yesterday, continues, even in a growing market. TESLA, in its annual report, which was filed with the SEC on Feb. 7, confirmed ownership of $1.99 billion worth of Bitcoin and said they believe in the long-term potential of digital assets, both as an investment and as an alternative to fiat. No mention of Dogecoin. The reporting season continues, reports from Disney, UBER, CME Group will be released today. the
Bitcoin's overnight rally ended just above $43,00 followed by a slight correction and stall at around $43K. For today, an attempt to take $45K is a priority option. In case of an unfavourable external background, price may drop below the support area at $43,000- $42700.
Lastly, two comments stood out for me today, first by the FBI Deputy Director Paul M. Abbate who stated “Today’s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead.” and secondly by Deputy Attorney General Lisa O. Monaco: “Today’s arrests, and the department’s largest financial seizure ever, show that cryptocurrency is not a safe haven for criminals.” Quite a huge contrary on what is peddled out by the mainstream media. I rest my case.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy: #blockchain #cryptocurrency #socialmedia #digital #research #hacking
Kenya’s CBK Calls for Comments on CBDC’s as Russia to Regulate Crypto, Dispelling Fears of Ban.
Thoughts on the Crypto market on 10.02. 2022
Bitcoin has moved within the range of $43,300- $44,800 and an attempt to take $45K has not yet been successful.
Total Crypto Market capitalisation $2.02 Trillion,
BTC Dominance Index 41.4%,
Fear index 50.
There is data today on US inflation, as well as data on the labor market. Inflation will clearly be above 7%, and this will put pressure on the markets, as it may lead to an increase in the rate in March by 0.5% at once. This negative data on the labor market can slow down this process, which is already positive for the wall street markets.
With Bitcoin failing to take on $45K, a refuelling trip to 41500 is possible. The priority option for today is Bitcoin in the previous range with support at $43,300- $42,800 and resistance at 44800-45000, next attempts to consolidate above $45K is a low probability.
Yesterday, the news of the day was the approval by the government of the Russian Federation on the regulation of cryptocurrencies. Instead of banning cryptocurrencies, the Russian government has decided to regulate them, legitimising a $2 trillion asset class in the world’s 11th-largest economy. For all to take effect, it is necessary to adopt some bills, amend the Criminal Code and the Code of Administrative Offences, as well as the law on the CFA. One would need to know what are the effects of BTC being declared a currency?
El Salvador is going to issue Bitcoin bonds for 1 billion. Half of the funds raised are going to be used to buy Bitcoin, and half to build infrastructure for mining. Speaking on a local news program, finance minister Alejandro Zelaya said that the government is planning to have the bond “totally ready” for issuance between March 15 and March 20. “If we really want to build this country, we have to invest in it like this,” Zelaya said. Zelaya confirmed that the government is still planning to issue $1 billion for the first bond, as previously mentioned during a November 20 event. However, Zelaya said during the show that he now expects the bond to be oversubscribed by about $500 million, at least. While crypto enthusiasts are excited about the bonds and presumably will want to buy them to leave their mark on history, other financial experts have raised questions about whether they are a good investment and will attract a sufficient amount of investors.
Discussion Paper on Kenya’s Central Bank Digital Currency is out. The discussion paper is part of CBK’s initiatives to ensure informed policy review regarding financial sector innovations. CBK invites the public, industry and stakeholders to review this discussion paper on CBDC and provide feedback and ideas to be considered when assessing the use case for CBDC in Kenya. If interested to give your feedback do so here: https://forms. office.com/r/2UB3cVRzK2
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 Crypto market on 10.02. 2022
Bitcoin has moved within the range of $43,300- $44,800 and an attempt to take $45K has not yet been successful.
Total Crypto Market capitalisation $2.02 Trillion,
BTC Dominance Index 41.4%,
Fear index 50.
There is data today on US inflation, as well as data on the labor market. Inflation will clearly be above 7%, and this will put pressure on the markets, as it may lead to an increase in the rate in March by 0.5% at once. This negative data on the labor market can slow down this process, which is already positive for the wall street markets.
With Bitcoin failing to take on $45K, a refuelling trip to 41500 is possible. The priority option for today is Bitcoin in the previous range with support at $43,300- $42,800 and resistance at 44800-45000, next attempts to consolidate above $45K is a low probability.
Yesterday, the news of the day was the approval by the government of the Russian Federation on the regulation of cryptocurrencies. Instead of banning cryptocurrencies, the Russian government has decided to regulate them, legitimising a $2 trillion asset class in the world’s 11th-largest economy. For all to take effect, it is necessary to adopt some bills, amend the Criminal Code and the Code of Administrative Offences, as well as the law on the CFA. One would need to know what are the effects of BTC being declared a currency?
El Salvador is going to issue Bitcoin bonds for 1 billion. Half of the funds raised are going to be used to buy Bitcoin, and half to build infrastructure for mining. Speaking on a local news program, finance minister Alejandro Zelaya said that the government is planning to have the bond “totally ready” for issuance between March 15 and March 20. “If we really want to build this country, we have to invest in it like this,” Zelaya said. Zelaya confirmed that the government is still planning to issue $1 billion for the first bond, as previously mentioned during a November 20 event. However, Zelaya said during the show that he now expects the bond to be oversubscribed by about $500 million, at least. While crypto enthusiasts are excited about the bonds and presumably will want to buy them to leave their mark on history, other financial experts have raised questions about whether they are a good investment and will attract a sufficient amount of investors.
Discussion Paper on Kenya’s Central Bank Digital Currency is out. The discussion paper is part of CBK’s initiatives to ensure informed policy review regarding financial sector innovations. CBK invites the public, industry and stakeholders to review this discussion paper on CBDC and provide feedback and ideas to be considered when assessing the use case for CBDC in Kenya. If interested to give your feedback do so here: https://forms. office.com/r/2UB3cVRzK2
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
Crypto exchange #Binance to take $200m stake in Forbes as Legendary Investor Bill Miller’s Says Bitcoin Position Is ‘Very Big’
Thoughts on the market on 11.02. 2022
Bitcoin again tried to take $45K, and successfully fixed above $45,840. A sell off ensued and price dropped back to $ 43,000-43,100 where it's currently being traded.
Total Crypto Market capitalization $1.95 Trillion,
BTC Dominance index 41.8%,
Fear index 50.
Dollar Index is rising and is above 95.8(Bearish sign for Bitcoin in the medium term)
Inflation data came out higher than expected, which makes a 0.5% rate hike more likely, hence the reaction of the markets. Bitcoin worked out the priority version of yesterday's review. The priority option for today is the movement of Bitcoin in the range of 42700-45700, with a possible correction to $41500. An alternative option is a successful capture of 45K with a fixation above.
Medium-term perspectives of Bitcoin here: https://t.me/decryptedge/952
Binance Exchange bought a $200million stake in Forbes, In a statement announcing the investment, Binance founder Changpeng 'CZ' Zhao said he saw media as "an essential element to build widespread consumer understanding and education" of the crypto market and emerging blockchain technologies. The Chinese Canadian billionaire, whose net worth is estimated to be nearly $100bn, later took to Twitter to clarify his comments, saying his focus was on helping Forbes build out its technology and calling Forbes' editorial independence "sacrosanct".
Lastly, Billionaire Bill Miller, The man who holds the record for most years outperforming the S&P 500 is deeply invested in bitcoin. In a Wednesday interview, he stated that holding bitcoin is akin to having insurance against financial catastrophe, echoing comments he made last month as he disclosed that bitcoin comprised half of his fortune. Further explained that bitcoin doesn’t account for 50% of his portfolio any longer given the digital currency’s price decline over the past couple of months. However, he said his allocation to bitcoin still is “very big.”
Confluence for growth is albeit convincingly high and one may take a contrarian view for a major shakedown to $19K. Following and completion of the medium term perspective.
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 11.02. 2022
Bitcoin again tried to take $45K, and successfully fixed above $45,840. A sell off ensued and price dropped back to $ 43,000-43,100 where it's currently being traded.
Total Crypto Market capitalization $1.95 Trillion,
BTC Dominance index 41.8%,
Fear index 50.
Dollar Index is rising and is above 95.8(Bearish sign for Bitcoin in the medium term)
Inflation data came out higher than expected, which makes a 0.5% rate hike more likely, hence the reaction of the markets. Bitcoin worked out the priority version of yesterday's review. The priority option for today is the movement of Bitcoin in the range of 42700-45700, with a possible correction to $41500. An alternative option is a successful capture of 45K with a fixation above.
Medium-term perspectives of Bitcoin here: https://t.me/decryptedge/952
Binance Exchange bought a $200million stake in Forbes, In a statement announcing the investment, Binance founder Changpeng 'CZ' Zhao said he saw media as "an essential element to build widespread consumer understanding and education" of the crypto market and emerging blockchain technologies. The Chinese Canadian billionaire, whose net worth is estimated to be nearly $100bn, later took to Twitter to clarify his comments, saying his focus was on helping Forbes build out its technology and calling Forbes' editorial independence "sacrosanct".
Lastly, Billionaire Bill Miller, The man who holds the record for most years outperforming the S&P 500 is deeply invested in bitcoin. In a Wednesday interview, he stated that holding bitcoin is akin to having insurance against financial catastrophe, echoing comments he made last month as he disclosed that bitcoin comprised half of his fortune. Further explained that bitcoin doesn’t account for 50% of his portfolio any longer given the digital currency’s price decline over the past couple of months. However, he said his allocation to bitcoin still is “very big.”
Confluence for growth is albeit convincingly high and one may take a contrarian view for a major shakedown to $19K. Following and completion of the medium term perspective.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:
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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…
Intel is Entering the #Blockchain Mining market with Upcoming Hardware Capable of Generating Bitcoin as DEX(Decentralized Exchanges) Bans 10 Countries.
Thoughts on the market on 12.02. 2022
Bitcoin has been declining for the last 24 hours. First, to the lower border of the trading range, then a correction to $41,700, it's now trading around $42,300.
Total Crypto Market capitalization: $1.89 Trillion,
BTC Dominance Index: 42.4%,
Fear index: 44.
Geopolitical tensions have been added to the reaction to inflation and the extraordinary meeting of the Fed, which is scheduled for Monday. The topic of Russia's imminent invasion of Ukraine seems to be getting inflated. Markets relatively calmly greeted the news of an extraordinary meeting of the Fed, but against the backdrop of reports of the evacuation of embassies, the closure of airspace and other horrors, resulted in a significant fall.
The Fed faces a problem that has no solution. On one hand, inflation of 7.3% (perhaps the figure is significantly underestimated) requires an increase. On the other hand, a debt of 30 Trillion. makes the rate hike too costly to service the debt. Lastly on the third hand, coming November, elections to the Senate and Congress. If against the backdrop of all the other failures, the stock market also collapses by this time, the Democrats will have little chance of maintaining the status quo. Quite a mouthful.
Bitcoin on such an external background behaves quite steadily. Support was lost at $42,700, but the correction towards $41,500 was quickly bought out on the way to 41700. On the thin weekend market, there may be a gap towards 38K, especially if Bloomberg throws up another creative narrative about Russian tanks that are already entering Kiev. Most likely option for Bitcoin to return to the 43-45K range no later than Tuesday.
An alternative option is Bitcoin leaving below $41,500 with consolidation. We will analyze further prospects in the event of its occurrence.
Lastly to some news, PancakeSwap (a decentralized platform) has announced the blocking of users from ten jurisdictions, starting March, access for users from: Iran, Belarus, Cuba, Democratic Republic of the Congo, Iraq, North Korea, Sudan, Syria, Zimbabwe and Crimea. Such #geofencing is common on centralized exchanges, but not as widely used on their decentralized counterparts. However, the reality is that some DEX platforms have also begun to restrict access to certain IP addresses. While such restrictions are often bypassed with VPNs, many companies manage to track the use of anonymizers. But what kind of decentralization can we talk about? some scam??
Intel to Enter Bitcoin Mining Market With Energy-Efficient Hardware. Their goal is to create the most energy-efficient blockchain-mining ASIC, with minimal impact on chip supplies. Intel is working with customers that share its environmental sustainability goals for blockchain technology. “Argo Blockchain, Block (formerly known as Square) and Griid Infrastructure are among the first customers for this upcoming product. This architecture is implemented on a tiny piece of silicon so that it has minimal impact on the supply of current products. Intel also emphasized the blockchain accelerator isn't a multi-purpose GPU, but an ASIC. The company's effort will likely shake up competition in the ASIC Bitcoin-mining industry when some of the largest providers, such as Bitmain, come from China. Intel’s first blockchain-accelerator hardware is slated to begin shipping later this year. In addition, the company says it’s preparing a roadmap of “energy-efficient accelerators.” The chipmaker plans on sharing more details at the ISSCC technology conference, which runs from Feb. 20-28.
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 12.02. 2022
Bitcoin has been declining for the last 24 hours. First, to the lower border of the trading range, then a correction to $41,700, it's now trading around $42,300.
Total Crypto Market capitalization: $1.89 Trillion,
BTC Dominance Index: 42.4%,
Fear index: 44.
Geopolitical tensions have been added to the reaction to inflation and the extraordinary meeting of the Fed, which is scheduled for Monday. The topic of Russia's imminent invasion of Ukraine seems to be getting inflated. Markets relatively calmly greeted the news of an extraordinary meeting of the Fed, but against the backdrop of reports of the evacuation of embassies, the closure of airspace and other horrors, resulted in a significant fall.
The Fed faces a problem that has no solution. On one hand, inflation of 7.3% (perhaps the figure is significantly underestimated) requires an increase. On the other hand, a debt of 30 Trillion. makes the rate hike too costly to service the debt. Lastly on the third hand, coming November, elections to the Senate and Congress. If against the backdrop of all the other failures, the stock market also collapses by this time, the Democrats will have little chance of maintaining the status quo. Quite a mouthful.
Bitcoin on such an external background behaves quite steadily. Support was lost at $42,700, but the correction towards $41,500 was quickly bought out on the way to 41700. On the thin weekend market, there may be a gap towards 38K, especially if Bloomberg throws up another creative narrative about Russian tanks that are already entering Kiev. Most likely option for Bitcoin to return to the 43-45K range no later than Tuesday.
An alternative option is Bitcoin leaving below $41,500 with consolidation. We will analyze further prospects in the event of its occurrence.
Lastly to some news, PancakeSwap (a decentralized platform) has announced the blocking of users from ten jurisdictions, starting March, access for users from: Iran, Belarus, Cuba, Democratic Republic of the Congo, Iraq, North Korea, Sudan, Syria, Zimbabwe and Crimea. Such #geofencing is common on centralized exchanges, but not as widely used on their decentralized counterparts. However, the reality is that some DEX platforms have also begun to restrict access to certain IP addresses. While such restrictions are often bypassed with VPNs, many companies manage to track the use of anonymizers. But what kind of decentralization can we talk about? some scam??
Intel to Enter Bitcoin Mining Market With Energy-Efficient Hardware. Their goal is to create the most energy-efficient blockchain-mining ASIC, with minimal impact on chip supplies. Intel is working with customers that share its environmental sustainability goals for blockchain technology. “Argo Blockchain, Block (formerly known as Square) and Griid Infrastructure are among the first customers for this upcoming product. This architecture is implemented on a tiny piece of silicon so that it has minimal impact on the supply of current products. Intel also emphasized the blockchain accelerator isn't a multi-purpose GPU, but an ASIC. The company's effort will likely shake up competition in the ASIC Bitcoin-mining industry when some of the largest providers, such as Bitmain, come from China. Intel’s first blockchain-accelerator hardware is slated to begin shipping later this year. In addition, the company says it’s preparing a roadmap of “energy-efficient accelerators.” The chipmaker plans on sharing more details at the ISSCC technology conference, which runs from Feb. 20-28.
This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy: