Forwarded from Canva
ETH unable to hold above the $3300-$3340 resistance area and now again testing the major support area. The key level to hold is $3000 and if ETH daily candle close above this then we see again a test of $3300 resistance area. If ETH daily candle close below $3000 then we see more panic in market and $2650-$2700 area.
Forwarded from Canva
Bloomberg analyst Mike McGlone is convinced Bitcoin is on track to reach $100K in 2022, as it completes its transition from a risk-on to risk-off asset.
While the Fed is planning to raise interest rates to fight inflation, risk-on assets like crypto may suffer, as people would likely prefer to invest in fixed-income assets like bonds.
While this trend may represent a short-term hurdle, McGlone said he is confident that Bitcoin will still appreciate significantly in 2022:
“Bitcoin is in a unique phase, I think, of transitioning from a risk-on to risk-off global digital store of value, replacing gold and becoming global collateral. So I think that's going to be happening this year.”
While the Fed is planning to raise interest rates to fight inflation, risk-on assets like crypto may suffer, as people would likely prefer to invest in fixed-income assets like bonds.
While this trend may represent a short-term hurdle, McGlone said he is confident that Bitcoin will still appreciate significantly in 2022:
“Bitcoin is in a unique phase, I think, of transitioning from a risk-on to risk-off global digital store of value, replacing gold and becoming global collateral. So I think that's going to be happening this year.”
Forwarded from Canva
The global cryptocurrency market cap now stands at $1.98T, up by 0.01% over the last day, according to CoinMarketCap data.
Bitcoin (BTC) has been trading between $41,571 and $42,573 over the past 24 hours. As of 1:15 pm (UTC) today, BTC is trading at $42,043 down by 0.62%.
Most major cryptocurrencies by market cap are trading mixed. LUNA gained nearly 3%.
Market outperformers included LOKA which soared 1455% after listing on Binance. League of Kingdoms (LOKA) aims at building a decentralized gaming metaverse as one of the world's first blockchain MMO strategy games.
Other outperformers were BADGER and KNC, which gained 12% each.
Bitcoin (BTC) has been trading between $41,571 and $42,573 over the past 24 hours. As of 1:15 pm (UTC) today, BTC is trading at $42,043 down by 0.62%.
Most major cryptocurrencies by market cap are trading mixed. LUNA gained nearly 3%.
Market outperformers included LOKA which soared 1455% after listing on Binance. League of Kingdoms (LOKA) aims at building a decentralized gaming metaverse as one of the world's first blockchain MMO strategy games.
Other outperformers were BADGER and KNC, which gained 12% each.
Forwarded from Canva
El Salvador plans to provide low-interest Bitcoin-backed loans to SME
Nayib Bukele, dubbed the “CEO of El Salvador,” is pushing the envelope by implementing Bitcoin as a legal tender in the real world. The Salvadoran government is attempting to develop a Bitcoin-backed credit product for micro and small companies around the country.
As a result, small and micro-businesses will be able to qualify for low-interest loans secured by Bitcoin in the near future (BTC).
Nayib Bukele, dubbed the “CEO of El Salvador,” is pushing the envelope by implementing Bitcoin as a legal tender in the real world. The Salvadoran government is attempting to develop a Bitcoin-backed credit product for micro and small companies around the country.
As a result, small and micro-businesses will be able to qualify for low-interest loans secured by Bitcoin in the near future (BTC).
Forwarded from Canva
BTC price falls to $34K as Bitcoin RSI reaches most 'oversold' since March 2020 crash
Forwarded from Canva
ETH break the major support of $3000 and also the $2650 support. ETH bounced from the lower support of $2350 area. The first resistance is $2700-$2750 area and major resistance is now $3000-$3100 area. ETH need to hold the $2350 support otherwise we may see a test of $2000-$2050 area.
Forwarded from Canva
Facebook's parent company Meta plans to allow users to create and sell non-fungible tokens (NFTs) as it aims to capitalize on the craze for digital collectibles, according to media report.
Teams at Facebook and Instagram are working on a feature that will let users showcase their NFTs on their social media profiles, the Financial Times reported, citing sources. Teams are also working on a prototype that will allow users to mint their own NFTs is also being worked on.
Teams at Facebook and Instagram are working on a feature that will let users showcase their NFTs on their social media profiles, the Financial Times reported, citing sources. Teams are also working on a prototype that will allow users to mint their own NFTs is also being worked on.
Forwarded from Canva
The Bottom Is Near
➤ Bitcoin’s Entity-Adjusted Dormancy Flow helps understand the spending behavior of experienced market participants. Whenever there is a substantial reduction in BTC spending from the so-called “old hands,” the dormancy value falls below 250,000, signaling that the market is in full capitulation.
➤ In previous bear cycles, a dormancy value below 250,000 represented a great historical buy zone. Bitcoin’s Entity-Adjusted Dormancy Flow currently sits around 205,000 and can still drop to 180,000 to mark the end of the downtrend.
➤ Bitcoin’s Entity-Adjusted Dormancy Flow helps understand the spending behavior of experienced market participants. Whenever there is a substantial reduction in BTC spending from the so-called “old hands,” the dormancy value falls below 250,000, signaling that the market is in full capitulation.
➤ In previous bear cycles, a dormancy value below 250,000 represented a great historical buy zone. Bitcoin’s Entity-Adjusted Dormancy Flow currently sits around 205,000 and can still drop to 180,000 to mark the end of the downtrend.