price of bitcoin

This article is a community submission. The article is contributed by Derek Yoo, the CEO of PureStake, a development team for the Moonbeam platform for cross-chain connected applications. TL;DR  Cross-chain interoperability enables applications to communicate and interact with each other across different blockchain networks. This allows for the transfer of data and value between disparate systems, providing increased connectivity and seamless integration.  What Is Interoperability in Blockchain?  Interoperability in the context of blockchains refers to a blockchain’s capacity to freely exchange data with other blockchains. Cross-chain interoperability allows smart contracts on different chains to communicate with each other without having to send the actual tokens between chains. For example, assets, services, and transactions are recorded on a blockchain as documentation. Whatever activity takes place on one blockchain can be represented on another blockchain wit

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Bitcoin’s bullish time cycle alignment

Bitcoin’s bullish time cycle alignment

Korbinian Koller Korbinian Koller 22.12.2021 09:32
Typically, various time frames perform better or worse for a trader at different times due to cycle overlaps. Having multiple trades on simultaneously from different time frames is typically an excellent hedge. This way, one can catch the specific trading instruments’ various shorter and longer-term trends. BTC in US-Dollar, Quarterly Chart, patience pays: Bitcoin in US-Dollar, quarterly chart as of December 21st, 2021. Typical mistakes are either an early entry or a chased trade and getting out too early of a steady trend. These behaviors have to do with pleasure-seeking and pain avoidance motivation. With the chart above in mind, most pass if presented with an opportunity where rewards are paid out in ten years. Wealth preservation, which we are after, should have nothing else in mind—long-term protection with a low-risk profile and a solid performance. The chart presented above is our most conservative view of the future for bitcoin, both in price and time. Meaning, it would come as no surprise to us if much higher price levels are achieved in a much shorter period of time. Yet, we tend to estimate typically very conservative to keep emotions like greed in check. BTC in US-Dollar, Weekly Chart, Bitcoin’s bullish time cycle alignment: Bitcoin in US-Dollar, weekly chart as of December 21st, 2021. The percentage gain numbers of the previous chart assume the worst possible purchase price, which is an all-time high. If we purchase bitcoin right now or prices below recent trading prices, these numbers already drastically change. Meaning, while our pain-avoiding emotional motivators direct us in declining markets to sell, it is principle-based if you have statistically high probability models over the long term to instead think about purchasing bitcoin. As indicated in the weekly chart above, we see a window of opportunity for entries based on our quarterly chart exit time horizon. Scenario A, the more aggressive position-taking, is in a process already at the release of this chart book. Nevertheless, there is a probability that prices could decline as far as US$40,000, and low-risk entry spots within the price decline to such lower levels would be as a scenario B welcome just as well. Should prices penetrate below the US$40,000 level, a regrouping would be required before new entries could be discussed. BTC in US-Dollar, Daily Chart, Position building in motion: Bitcoin in US-Dollar, daily chart as of December 21st, 2021. Assuming entries here in our entry zone between US$47,000 and US$40,000 and exits in our first chart of this chart book, a bitcoin investment next to be an insurance play against troubled fiat currencies could provide a profit near a thousand percent. The daily chart above has marked days and entry prices of three trades we posted live in our free Telegram channel in the last five days. We took partial profits based on our quad exit strategy within hours of entry. Consequently, eliminating the original stop risk of less than a percent to zero risk. With a risk-reward ratio of 1:1000, we find it reasonable to sit through a few years with the remainder position size for sizeable rewards. Bitcoin’s bullish time cycle alignment: Some of the worst mistakes in history were made based on the shortsightedness not to think long term. As creative and inventive a species, we cannot help but follow emotions that often do not have our own best interest in mind. One such emotion is instant gratification. It seems almost a burden to wait for being rewarded patiently. Yet, it is this discipline one needs to be a successful trader. First, you need the patience to not always be too early with one’s entry in a trade not to catch a falling knife. Then you require the patience not to chase a trade if you missed it.  Instead, wait for a later chance to get another low-risk entry spot or to pass up on the trade altogether. And foremost, once finding yourself in a good trade, it is imperative to sit on your hands and let the trade mature to full profits. The higher the time frame of your play is, the harder this test of your patience becomes.Remedies are good planning, consistent reviewing of a plan, rigorously following it, and employing an exit strategy suitable to your psychology (see our quad exit strategy). Feel free to join us in our free Telegram channel for daily real time data and a great community. If you like to get regular updates on our gold model, precious metals and cryptocurrencies you can subscribe to our free newsletter. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. The views, thoughts and opinions expressed here are the author’s alone. They do not necessarily reflect or represent the views and opinions of Midas Touch Consulting. By Korbinian Koller|December 21st, 2021|Tags: Bitcoin, Bitcoin bounce, Bitcoin bullish, bitcoin consolidation, crypto analysis, Crypto Bull, crypto chartbook, DeFi, low risk, quad exit, technical analysis, trading education|0 Comments About the Author: Korbinian Koller Outstanding abstract reasoning ability and ability to think creatively and originally has led over the last 25 years to extract new principles and a unique way to view the markets resulting in a multitude of various time frame systems, generating high hit rates and outstanding risk reward ratios. Over 20 years of coaching traders with heart & passion, assessing complex situations, troubleshoot and solve problems principle based has led to experience and a professional history of success. Skilled natural teacher and exceptional developer of talent. Avid learner guided by a plan with ability to suppress ego and empower students to share ideas and best practices and to apply principle-based technical/conceptual knowledge to maximize efficiency. 25+ year execution experience (50.000+ trades executed) Trading multiple personal accounts (long and short-and combinations of the two). Amazing market feel complementing mechanical systems discipline for precise and extreme low risk entries while objectively seeing the whole picture. Ability to notice and separate emotional responses from the decision-making process and to stand outside oneself and one’s concerns about images in order to function in terms of larger objectives. Developed exit strategies that compensate both for maximizing profits and psychological ease to allow for continuous flow throughout the whole trading day. In depth knowledge of money management strategies with the experience of multiple 6 sigma events in various markets (futures, stocks, commodities, currencies, bonds) embedded in extreme low risk statistical probability models with smooth equity curves and extensive risk management as well as extensive disaster risk allow for my natural capacity for risk-taking.
Bitcoin and ether defend significant levels

Bitcoin and ether defend significant levels

Alex Kuptsikevich Alex Kuptsikevich 22.12.2021 09:18
The cryptocurrency market has gained another 1.8% over the past 24 hours, bringing its total capitalisation to $2.28 trillion. The index has been choking on growth for the past three weeks at the $2.3 mark, so further rise promises to strengthen the bullish case, at least in the short term. The cryptocurrency fear and greed index has jumped to 45. This is a fear territory, but very close to neutral territory. Judging by the continued demand for risky assets in traditional markets and the positive performance of cryptocurrencies as of this morning, this index could well continue to rise at the end of the day. Bitcoin is trading near $49,000, returning to the highs of the last week and a half, adding 1.3% in 24 hours and 2.3% over seven days. Technically, the first cryptocurrency managed to close noticeably above its simple 200-day moving average, which could spur demand from those buyers who were waiting for the battle for that important level to unfold. The price of Ether is above $4K, which is also a positive signal for the entire crypto market. The situation looks like Ether staying above $4K and Bitcoin staying above the 200-day average is fuelling buying among smaller altcoins. Keeping key currencies above psychological marks fuels hopes that the market has not switched to bearish mode. On the other hand, we remain wary of the crypto market outlook, noting that Bitcoin and Ether look like clinging to meaningful levels. The bearish scenario can only be cancelled if growth develops from current levels.
January 18th, 2022, Crypto Chartbook

January 18th, 2022, Crypto Chartbook

Korbinian Koller Korbinian Koller 19.01.2022 15:22
Bitcoin´s New Year’s resolution BTC in US-Dollar, Quarterly Chart, trending up: Bitcoin in US-Dollar, quarterly chart as of January 18th, 2022. Where often the rubber meets the road is accountability. Yes, you technically could trade off a screen the size of your phone and do so in your underwear from home. That doesn’t mean this will lead to profits. More likely, success will come if you tell your spouse that you will only trade for real money once a significant sample size of paper trading shows consistent returns on your well-defined statistical edge. Holding yourself accountable to a person close to you is critical. This way, you won’t slack on facing your shortcomings. There is a thin line between gambling and being a victim of nourishing scarcity emotions and having a well-defined trading system executed with discipline to extract profits from the markets over larger sample sizes consistently. The quarterly chart above shows how bitcoin has been trending up over the last five years. As much as last year’s final quarter was profit-taking after all-time new highs, the price seems to stabilize near the regression channel midline (blue line), which typically acts as support. We find these accentuated retracements typical for bitcoin and are looking for a possible turning point towards a new leg up in the larger time frames. BTC in US-Dollar, Weekly Chart, Bitcoins New Year’s resolution: Bitcoin in US-Dollar, weekly chart as of January 18th, 2022. Patience should be a key element in any such system. Patience to wait for the good trades that have the potential to provide upside moves three to five times greater than the necessary risk taken to try out the trade. What also needs to be thoroughly checked is not to be underfunded and that there is no pressure to make a living off trading right away. If these rules are undervalued, ruin is typical since trading psychology has particular requirements to execute a profitable methodology appropriately. Therefore, this includes that the money at stake lost cannot influence a drastic change in living. When undertaking a venture like this, it is advisable to not increase pressure by spreading the word to friends and colleagues since typical learning curve time frames are somewhere between 3 to 7 years, and the additional stress to defend one’s venture is not helpful. This behavior also supports the necessary feature later as a trader to be highly flexible in changing one’s mind about the market’s price direction. Something outsiders might find foolish. Now zooming into a lower time frame, the weekly chart shows a similar picture of opportunity. Prices are trading at the mean. A mathematical “neutral zone.” As the white ellipse in the past shows, for bitcoin, this is a support zone of prices where bitcoin turned after a temporary sideways trading period. Similar trading behavior is unfolding right now, supporting our bullish tone. BTC in US-Dollar, Daily Chart, possible entry zone: Bitcoin in US-Dollar, daily chart as of January 18th, 2022. If you are already a consistently winning trader, setting the tally to zero at the beginning of the year like this can be very helpful. You start fresh. Consequently, you trade a bit smaller and are very focused and diligent in building a new winnings nest egg that provides for free market play at the beginning of the year. Starting the beginning of the new year supports confidence that no matter what might be faced, if somewhere an exchange is open, you can make a living even after hardships and, as such, refreshes the confidence needed for proper execution throughout the year. Not resting on one’s laurels this way keeps trading exciting and the moral up to par towards the required skill set. The above daily chart tries to identify low-risk entry zones with our typical top-down approach, now zooming even closer. We aim further to stack the odds for a possible low-risk entry spot.After four swing legs down, prices are trading in a congestion zone (green square). We find this an area worthwhile to be on the lookout for a possible low-risk entry. This daily time frame entry could mature to a higher time frame turning point. Our quad exit strategy can capture profits for a more significant developing trend. Bitcoins New Year’s resolution: Trading needs to be treated like a business. A high percentage of businesses fail due to a lack of a business plan. In trading, a clear set of rules is even more critical due to the counterintuitive nature of the markets. In short, one can’t shoot from the hip in this profession. You get nowhere with your gut feeling. The biggest obstacle in trading is that traders underestimate how long it takes before success settles in. Consequently, backup plans are an excellent way to extend one’s learning curve. We also find a great way to overcome obstacles and accept when things go wrong consistently that a new rule is possibly missing.  The business of trading has many components, and as such, it is helpful to seek the outside counsel of a professional when needed. You find good support through the learning process in our free telegram channel within a community of professionals and newbies alike who provide answers to your questions. Feel free to join us in our free Telegram channel for daily real time data and a great community. If you like to get regular updates on precious metals and cryptocurrencies, you can also subscribe to our free newsletter. Disclosure: This article and the content are for informational purposes only and do not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. The views, thoughts and opinions expressed here are the author’s alone. They do not necessarily reflect or represent the views and opinions of Midas Touch Consulting. By Korbinian Koller|January 18th, 2022|Tags: Bitcoin, Bitcoin bounce, Bitcoin bullish, bitcoin consolidation, crypto analysis, Crypto Bull, crypto chartbook, DeFi, low risk, quad exit, technical analysis, trading education|0 Comments About the Author: Korbinian Koller Outstanding abstract reasoning ability and ability to think creatively and originally has led over the last 25 years to extract new principles and a unique way to view the markets resulting in a multitude of various time frame systems, generating high hit rates and outstanding risk reward ratios. Over 20 years of coaching traders with heart & passion, assessing complex situations, troubleshoot and solve problems principle based has led to experience and a professional history of success. Skilled natural teacher and exceptional developer of talent. Avid learner guided by a plan with ability to suppress ego and empower students to share ideas and best practices and to apply principle-based technical/conceptual knowledge to maximize efficiency. 25+ year execution experience (50.000+ trades executed) Trading multiple personal accounts (long and short-and combinations of the two). Amazing market feel complementing mechanical systems discipline for precise and extreme low risk entries while objectively seeing the whole picture. Ability to notice and separate emotional responses from the decision-making process and to stand outside oneself and one’s concerns about images in order to function in terms of larger objectives. Developed exit strategies that compensate both for maximizing profits and psychological ease to allow for continuous flow throughout the whole trading day. In depth knowledge of money management strategies with the experience of multiple 6 sigma events in various markets (futures, stocks, commodities, currencies, bonds) embedded in extreme low risk statistical probability models with smooth equity curves and extensive risk management as well as extensive disaster risk allow for my natural capacity for risk-taking.
NASDAQ: NFLX Stock Price Decreased, Crypto Market Changed

NASDAQ: NFLX Stock Price Decreased, Crypto Market Changed

Walid Koudmani Walid Koudmani 21.01.2022 12:35
Yesterday’s Q4 earnings report from Netflix was seen as a major disappointment with forecasts pointing to weaker subscriber growth amid rising competition, particularly when compared to the first part of 2021. While the company referred to increased competition as a major cause of this uncertainty, rising prices of plans may also be deterring some customers who now have access to a wide range of streaming services including Disney+ and HBO Max. The company’s stock dropped around 20% in after hours trading and could be set to begin today's trading in the $400 area - the lowest level since May 2020. Despite there being a general risk-off mood in markets, which has seen many other stocks also retreat, it remains to be seen if Netflix will manage to rebound or if it will continue heading lower. Crypto markets tank as risk-off moods dominate While it may appear that the crypto market has taken a big hit today, with the majority of top 100 coins down by around 10%, it is important to note that the general sentiment across markets is quite negative when relating to risk assets. This is in part due to the increasing prospects of fiscal and monetary policy changes from central banks, in particular the FED, which would remove a significant amount of liquidity from the market and that ultimately could lead to a significant fund reallocation. Furthermore, while we have seen major cryptos like Ethereum and Bitcoin drop below key levels like $3000 and $40,000, and reach the lowest level in several months they are both testing key support areas which previously preceded significant upward moves. While the global situation may be slightly different, it is worth keeping in mind that recent negative performance is not limited to the cryptocurrency market but is being seen across many different types of asset classes, albeit on a somewhat smaller scale. UK Retails sales decline and worry investors The 3,7% decline in retail sales illustrated by today’s report continues to indicate rising prices and economic uncertainty as some of the key reasons for the slowing down of sales. Despite Non-food stores sales falling noticeably in December, food store sales managed to only drop by 1% and retail sales as a whole were able to remain above pre pandemic levels. As the situation grows more uncertain and as inflation continues to be a key factor, it remains unclear whether central banks and governments will decide to take action or if they will wait and see if things improve naturally.
Can We Call It A Crypto Crash? Bitcoin Below $40k And Ether Below $3k

Can We Call It A Crypto Crash? Bitcoin Below $40k And Ether Below $3k

Alex Kuptsikevich Alex Kuptsikevich 21.01.2022 09:44
The crypto market capitalisation fell to 1.83 trillion, losing 7.3% in the past 24 hours. As we had feared, the selloff was triggered by sharply negative sentiment in US equity markets and intensified by the breakdown of critical support levels. Bitcoin retreated to the $38.8K area. The amplitude of the decline from the peak at the start of the regular session in New York to the bottom at the opening of Asia exceeds 12%. Sellers have proven unbreakable (so far) the upper boundary of the downward price channel that has dominated bitcoin since mid-November. Another worrying fact is that Bitcoin's share has risen to 40.2% of the crypto's total cap. The implication is that investors are breaking out of altcoins even more sharply, as they are less confident in the ability of smaller coins to withstand the titans' fall. Without a sharp intraday reversal (chances for this are minimal), we can confidently expect an acceleration of long position liquidation in Bitcoin and further drawdowns. There is nowhere to look for support until the $30-33K area on the chart. Ether has given up support at $3K, quickly pulling back into the consolidation area of late September, ending up near $2.85K. The intensification of the selloff makes $2K the target of the initial downside wave. Earlier in 2021, the area of 30K for Bitcoin and near 2K for Ether was the bottom of a deep correction. This then attracted buyers, and the total market managed to rewrite highs. In that drawdown, the total capitalisation of cryptocurrencies was down to $1.2 trillion. If the first two cryptocurrencies were targeting lows last summer, it is logical to expect the entire market to return to the lows of that time. But then the external backdrop was highly favourable, as the US market was returning to growth with drawdowns in the 5% range, having already crossed that barrier earlier last year. The continued negative backdrop in equities sets up a deeper pullback in crypto. The crypto market's capitalisation could potentially shrink by half to the $830-900bn area before we see a new wave of long-term buyer inflows. For Bitcoin, this suggests the potential for a drop to 20k.
(BTC) Bitcoin Price Prediction 2022: $100K!? Stocks Swapped For Crypto!?

(BTC) Bitcoin Price Prediction 2022: $100K!? Stocks Swapped For Crypto!?

Alex Kuptsikevich Alex Kuptsikevich 14.04.2022 09:03
Bitcoin rose 4.3% on Wednesday to end the day around $41,300, Ethereum added 4% to reach 3100, and both remain near those levels early Thursday. The leading altcoins from the top ten have risen in price over the past day from 0.7% (Binance Coin) to 5.4% (Avalanche). Demand on BTC According to CoinMarketCap, the total capitalization of the crypto market has grown over the past 24 hours by 2.3% per day, to $1.92 trillion. The Bitcoin Dominance Index rose 0.3% to 41.0%. Cryptocurrency index of fear and greed added to Thursday added 3 more points to 28 and moved into a state of "fear". Bitcoin was in demand in the US session amid a rebound in stock indices and a decline in the US dollar. The US currency began to correct downwards after a 9-day growth, which contributed to the revival of all risky assets. World's first crypto credit card Alex Mashinsky, CEO of the Celsius Network crypto-lending platform, said that Bitcoin will soar above $100,000 as early as 2022 as a result of capital flight from the stock market to cryptocurrencies. According to him, bitcoin began to behave as a protective asset against the backdrop of a deterioration in the general situation in the world. Crypto lending platform Nexo has announced the release of the world's first credit card secured in cryptocurrency based on the Mastercard payment system. The card will allow you to spend funds without having to sell crypto assets. They will be used as collateral to secure the loan. According to IntoTheBlock, the number of long-term investors in the Shiba Inu token has grown 20 times since the beginning of the year. However, hodlers hold only 5% of the total capitalization of the meme token.
Mid-Market Update: Global PMIs collapse, Relief Rally will be tested next week, Mixed Earnings, Oil finds support, Gold shines, Bitcoin steadies

Paying In Crypto On (AMZN) Amazon!? CEO Speaks His Mind! Bitcoin (BTC) And Ether (ETH) Have Gone Down Over Last 24 Hours!

Alex Kuptsikevich Alex Kuptsikevich 15.04.2022 08:33
Bitcoin was down 3.4% on Thursday, ending the day near $39.9K, although it managed to bounce back above $40.1K by Friday morning, cutting the intraday decline to 2.8%. Ethereum has lost 2.5% in the last 24 hours, and other leading altcoins from the top ten are predominantly declining, from -1% (BNB) to -7.3% (Terra). The exception was XRP, which added 5.4% during this time. BTC can develop a reversalAccording to CoinMarketCap, the total capitalization of the crypto market decreased by 2.8% per day, to $1.87 trillion. The Bitcoin dominance index fell by 0.3% to 40.7%. By Friday, the cryptocurrency fear and greed index returned to the extreme fear territory, losing 6 points to 22. US stocks failed to build on the offensive, losing all of the previous day's gains, leading to a stronger selloff for bitcoin compared to alternative cryptocurrencies. From the technical side, Bitcoin is trading near the support level, which runs through the lows of January, February and March. A formal signal to break the support will be considered a failure under the previous lows in the $38K area. The ability to develop a reversal to the offensive from these levels, on the contrary, will reinforce the importance of this moderate uptrend line. Crypto newsThe head of Ripple noted that the court with the SEC is going “much better than expected,” which provoked a wave of XRP growth, allowing the coin to resist gravity. BlackRock CEO Larry Fink said that the largest asset management company continues to study the cryptocurrency sector. Amazon CEO Andy Jassy said that the company has no plans to introduce payments in cryptocurrency in the near future, although it is exploring the possibilities of digital assets. At the same time, he looks to the future of cryptocurrencies and NFTs with interest and optimism. The Bank of Canada is exploring scenarios for the coexistence of digital and fiat currencies, the first regulator to decide to use quantum computing for this study. Bank of Japan chief executive Shinichi Uchida said the upcoming digital yen will not be used to achieve a negative interest rate. The second stage of the launch of the digital yen started on March 24th this year.
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

(BTC/USD) Bitcoin Price Prediction 2022 - Weekly Forecast: What are the odds for a 2022 bull run

FXStreet News FXStreet News 15.04.2022 16:22
Bitcoin price shows signs of a strong rebound as it hovers around the $40,000 level. On-chain metrics are hinting at a massive bullish outlook from a long-term perspective. For the short-to-mid term scenario, BTC is likely to trigger a run-up to $50,000. Bitcoin price is positioned at a level that is likely to result in a quick run-up to key levels. The on-chain metrics are also suggesting the possibility of a spike in buying pressure that could trigger a full-blown bull run if certain hurdles are overcome. Bitcoin price and bullish technicals Bitcoin price has crashed 17% since April 4 and is currently bouncing off the 200 three-day Simple Moving Average (SMA) at $39,506. This downswing was a major bearish event as BTC dropped below the bullish crossover between the 50-day and 100-day SMAs. The Bitcoin price action from January 22 to March 15 has set up three higher highs and two higher lows, which when connected using trend lines, results in an ascending parallel channel formation. As seen, the swing lows have breached the 200 three-day SMAs, and the bodies of these candlesticks have closed above them. Therefore, investors can expect a minor downswing with a quick recovery before making a U-turn. "This move will take a massive surge in buying pressure to manifest" A bounce off the 200 three-day SMA is likely to trigger a full-blown reversal that will push BTC to overcome the 50-day, 100-day SMAs and tag the yearly open at $46,198. This move will take a massive surge in buying pressure to manifest. Hence, the upside for BTC could be capped at the yearly open but in some cases, the big crypto could retest the 200-day SMA at $48,169. BTC/USDT 1-day chart While technicals might be suggesting only a minor uptrend for Bitcoin price, on-chain metrics are indicating a far brighter future. Two of the most overly bullish indices are - supply on exchanges and net exchange position change. The total number of BTC held on exchanges has dropped to 1.91 million The first indicator tracks the number of BTC held on centralized entities and can serve as a guestimation of the selling pressure if things go wrong. Typically, a spike in this metric often leads to a sell-off. However, for Bitcoin, this indicator has been on a downtrend since March 2020. The total number of BTC held on exchanges has dropped to 1.91 million, a level last seen on December 6, 2018, indicating that the investors are confident in the performance of Bitcoin price. BTC supply on exchanges Further building on the bullishness is the exchange net position change indicator, which tracks the 30-day change in Bitcoins held on exchange wallets. Since March 2022, nearly 100,000 BTC have left exchanges. Moreover, such an extent of outflow was only witnessed five times in the decade-long history of BTC. All of this indicates that investors are betting on better performance of the big crypto over a longer timeframe. BTC exchange net position change Revealing a similar bullish outlook for Bitcoin price is the supply distribution by the balance of addresses. This index shows that there has been a net increase in whales holding between 100,000 and 1,000,000 BTC from 2.93% in December 2021 to 3.47% as of this writing. This uptick in accumulation is the most apparent indicator suggesting the intent of institutional investors. BTC supply distribution chart A popular on-chain analyst with the screen name ‘TechDev’ tweeted that the market has been in a year-long retracement and that an impulsive is likely. He explains that major buy signals are popping up on different fronts. The first and the most obvious indication is the bullish flip and retest of the 100-day Moving Average (MA). Interestingly, a similar setup was seen before the start of the 2017 bull rally, adding weight to the recent signal. Lastly, the dollar index (DXY) is also approaching a local top Moreover, the altcoin market cap has also moved above the Exponential Moving Average (EMA) ribbon and is currently retesting it. Again, a similar setup was seen in 2017, before altcoins saw a massive rally. Lastly, the dollar index (DXY) is also approaching a local top, which was a familiar structure seen before the start of the 2017 run-up. Combined with the hands-on approach of the Federal Reserve in hiking the interest rates, there is bound to be a retracement in DXY, which will pave the way for capital rotation into hard assets like Bitcoin. TechDev’s case for a bull run Therefore, investors need to be aware of the sell-stops present below the $30,000 level as BTC might crash lower to sweep this liquidity All in all, Bitcoin price seems to be positioned perfectly to kick-start a massive bull rally and on-chain indicators are actively supporting this outlook. However, a daily candlestick close below the $34,752 support level will make sure that BTC will continue heading lower. Such a development could trigger a crash to look for stable support levels. Therefore, investors need to be aware of the sell-stops present below the $30,000 level as BTC might crash lower to sweep this liquidity before triggering a 2022 bull rally.
(BTC) Bitcoin - "Entertainment For Losers"? Crypto Prices: (BTC/USD) Bitcoin Has Soared And Hit Ca. $41K! Terra (LUNA) Gone Up By 18%, Dogecoin (DOGE) Increased By 3.5%, Ethereum (ETH) Jumped

(BTC) Bitcoin - "Entertainment For Losers"? Crypto Prices: (BTC/USD) Bitcoin Has Soared And Hit Ca. $41K! Terra (LUNA) Gone Up By 18%, Dogecoin (DOGE) Increased By 3.5%, Ethereum (ETH) Jumped

Alex Kuptsikevich Alex Kuptsikevich 19.04.2022 08:42
Bitcoin returned to growth territory with a powerful surge at Monday's close, above the all-important $40K key level. A desperate attempt to hold on to the uptrend line from January resulted in a temporary success. Bitcoin's dominance index added 0.3 p.p. to 41.0% Over the past 24 hours, we have seen a 5% jump to $40.8K. Ethereum adds 4.5% in 24 hours, trading above $3040. Other leading altcoins from the top ten are adding between 3.5% (Dogecoin) and 18% (Terra). Total crypto market capitalisation, according to CoinMarketCap, rose 4.6% overnight to $1.89 trillion. Bitcoin's dominance index added 0.3 p.p. to 41.0%.The cryptocurrency Fear and Greed Index declined Tuesday, adding 3 points to 27 and moving into "fear" territory.   Read next: (UKOIL) Brent Crude Oil Spikes to Highest Price For April, (NGAS) Natural Gas Hitting Pre-2008 Prices, Cotton Planting Has Begun   Yesterday, the formal trigger for bitcoin buying was reverting US stock indices in the New York trading session to the upside. However, what is striking is that cryptocurrencies were many times more optimistic about this change in trend, suggesting demand has been waiting to surge into the market. Also noteworthy is the increased amplitude of growth in the hottest cryptocurrencies (Solana, Terra, Avalanche), gaining more than bitcoin. The buying wave has not yet spread to the entire market, evidenced by bitcoin's rising share.   For you: Forex Rates: British Pound (GBP) Strengthening? Weak (EUR) Euro? GBP, NZD And AUD Supported By Monetary Policy?   Cryptocurrencies are a system of communicating vessels on several levels. Bitcoin fills the demand first, followed by the first round of popular coins, followed by a wave of buying of smaller projects. The further away from the centre, the lower the liquidity, but the higher the sensitivity to sentiment. NTFs in this scheme are illiquid, where demand has not yet reached. "Entertainment for losers" The NFT market is about to burst because of rising interest rates, believes Nassim Taleb, American economist and author of Black Swan. Previously, he has been critical of bitcoin, calling it "entertainment for losers".According to Blockchain.com, fees on the bitcoin network have fallen to their lowest since June 2020. The average transaction processing fee now costs a user just over $1.The number of Lightning Network users has grown 800 times in a year, to 80 million, Arcane Research estimated. Lightning is designed to solve the problem of reducing high transaction fees. 
Weekly Crypto Market Analysis With Geco.one - 19.04.2022

Weekly Crypto Market Analysis With Geco.one - 19.04.2022

Geco One Geco One 19.04.2022 14:58
Bitcoin has fallen by over $ 9,500 in recent days by nearly 20%. Such a significant depreciation made the quotations of the oldest virtual currency drop below several significant support lines, the last two of which are the horizontal level of $ 42,200 and the upward trend line slightly below. Thanks to Monday's rebound of BTC, we are witnessing a re-test of the previously broken upward trend line, the lower boundary of the upward wedge formation, which we have already mentioned several times in the last weeks. The emergence of a more significant supply response here could signal a potential rejection of the track currently being tested, which would indicate a potential for further declines towards $ 37,000 or even below $ 35,000. Article on Crypto: Altcoins Showing Promising Growth - Take a Look at Solana (SOL), POLKADOT (DOT) and SHIBA INU (SHIB-USD)| FXMAG.COM The current situation on the Ethereum quotes is also very interesting. The exchange rate of this cryptocurrency has recently dropped by nearly $ 700, which was almost 20%. This depreciation pushed the ETH back to around $ 3,000, one of the most recent resistance levels. It is noteworthy that for several days this market has been moving in a horizontal trend between $ 2,980 and $ 3,150. The fact that systems of this type are usually corrective formations may be of significant importance here, which in practice means that the quotes more often break out of them in the direction consistent with the previous move. If this were also the case, the ETH price would drop below $ 2,980, which in turn would threaten its further depreciation towards the upward trend line below $ 2,800. The following levels of support are located in the vicinity of where a greater demand response could appear, which could initiate another upward movement The current situation on Solana's trading is also very similar. The exchange rate of this cryptocurrency has recently dropped by over 34%, thus returning below the level of $ 105.50. For several days the market has been consolidating slightly below the defeated support (now resistance). If only this zone is rejected, we would expect the sell-off to continue, which could return SOL to around $ 88 or down further to $ 79. The following levels of support are located in the vicinity of where a greater demand response could appear, which could initiate another upward movement. Article on Crypto: Binance Academy: Immutable X Token (IMX) - What Is It? IMX Explained. How To Buy IMX?| FXMAG.COM Looking at the Avalanche quotes, we notice that the price of this cryptocurrency has dropped by more than 30% at the same time. The sell-off stopped only near the upward trend line, where there was a demand reaction on Monday. However, there are many indications that even if this support were rejected, the AVAX rate would only increase around the previously defeated support (now resistance) of $ 83. Therefore, the potential for short-term increases seems to be very limited. It is noteworthy in this case that the price of this cryptocurrency was between the horizontal resistance and the upward trend line, which is key support. These two constraints form an ascending right triangle. From a purely technical point of view, it is technically neutral, which means that the market can break both up and down, and only the direction of the break will signal a future trend. Read next: (UKOIL) Brent Crude Oil Spikes to Highest Price For April, (NGAS) Natural Gas Hitting Pre-2008 Prices, Cotton Planting Has Begun A breakout over the top could open the door to further gains as high as $ 100. On the other hand, a drop below the upward trend line would indicate a potential for further depreciation to the $ 54 region. *Subtitles for the YouTube video are available in all languages
Mid-Market Update: Global PMIs collapse, Relief Rally will be tested next week, Mixed Earnings, Oil finds support, Gold shines, Bitcoin steadies

Swapping Visa And Mastercard For Solana (SOL)!? Crypto Revolution? Bitcoin (BTC) Has Jumped Again, Ether (ETH) Heading To $5000! Ripple (XRP) Almost 1% Down

Alex Kuptsikevich Alex Kuptsikevich 20.04.2022 08:31
Bitcoin rose 1.4% on Tuesday, ending the day around $41,300 and remaining near that mark on Wednesday morning. Ethereum added 1.3% to $3080 in the last 24 hours, XRP corrected 0.9% to 0.766, and other top ten altcoins gained 0.7% (BNB) to 4.9% (Terra). Bitcoin on Tuesday tested 8-day highs above $41,700 on the back of rising US stock indices, which strengthened for a second straight day Total crypto market capitalisation, according to CoinMarketCap, rose 1.3% overnight to $1.92 trillion. Bitcoin's dominance index was little changed, remaining at 41.0%. By Wednesday, the Cryptocurrency Fear and Greed Index remained at 27 points (fear). Bitcoin on Tuesday tested 8-day highs above $41,700 on the back of rising US stock indices, which strengthened for a second straight day. Article on Crypto: Altcoins Showing Promising Growth - Take a Look at Solana (SOL), POLKADOT (DOT) and SHIBA INU (SHIB-USD)| FXMAG.COM Correlation between BTC and the Nasdaq Composite Index has been highest since July 2020 Terra (LUNA) gained 5.5 per cent as Terra USD (UST) moved up to third place in terms of capitalisation among stablecoins. Chamath Palihapitiya, CEO of Social Capital and Virgin Galactic, said Solana (SOL) could capture market share in traditional financial services by challenging Visa and Mastercard. SOL is up 4.6%. The creators of the largest anonymous cryptocurrency, Monero, have confirmed that a 15th network hardfork is set for July 16. "It is better not to spend BTC but invest in it long-term" Jack Mallers, CEO of payment service Strike, said that bitcoin as a payment method is superior to all other systems. Nevertheless, it is better not to spend BTC but invest in it long-term. The US Secret Service's Office of Investigations (USSS) has disclosed that since 2015 the service has seized more than $102 million in digital assets from criminals. Read next: (UKOIL) Brent Crude Oil Spikes to Highest Price For April, (NGAS) Natural Gas Hitting Pre-2008 Prices, Cotton Planting Has Begun The Financial Action Task Force (FATF) believes that nearly half of the world's countries are not complying with anti-money laundering and counter-terrorist financing (AML) regulations. FATF has pledged to monitor member countries, including the US, China and the European Union.
The Developments In The Crypto Sector Made It Into The Record Books (The Guinness World Records)

You Better Follow (BTC/USD) Price Of Bitcoin! BTC – Wait For The Trigger!

Richard Nasr Richard Nasr 20.04.2022 13:59
BTC is sitting around a strong support 38k-40k so we will be looking for buy setups on H4: BTC formed a valid channel in red but it is not ready to go yet. Related article: Japanese Yen (JPY) Weakens Against The Dollar, USD/CAD Stable And The Inevitable Strengthening Of The USD, IMF/World Bank Events Trigger => For the bulls to take over, we need a momentum candle close above the last high in gray. Meanwhile, until the buy is activated, BTC can still trade lower to complete the inverse head and shoulders pattern or even break the support downward. Read next: Altcoins' Rally: Solana (SOL) Soars Even More, DOT and SHIBA INU Do The Same! | FXMAG.COM Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
The Forex Market Is Under Strong Pressure From Geopolitical Events And Statistics

How To Hedge Against Inflation? Crypto? Is Bitcoin (BTC) The Answer?

Conotoxia Comments Conotoxia Comments 20.04.2022 21:46
Last year alone, the number of investors in the cryptocurrency market may have increased by nearly 70 percent. - This is according to the "2022 Global State of Crypto Report" published by Gemini Exchange. The report was created after surveying 29,293 adults in 20 countries. The age of the respondents ranged from 18-75, and the survey was limited to those earning more than $14,000 per year. The report helps understand the global adoption of cryptocurrencies among retail investors. It shows that 41 percent of those surveyed made their first investment in cryptocurrencies in the past year, and overall, the total number of investors has increased by about 70 percent in 2021 alone. Key excerpts from the report: More than half of cryptocurrency owners in Brazil (51 percent), Hong Kong (51 percent) and India (54 percent) started in 2021. Among high-income respondents in developed countries, cryptocurrency ownership is trending upward, with 40 percent or more in the United Kingdom, Germany and France reporting cryptocurrency ownership. Regulation is causing concern around the world. Among those who do not own cryptocurrencies, 39 percent in Asia Pacific, 37 percent in Latin America and 36 percent in Europe say there is regulatory uncertainty surrounding cryptocurrencies. Inflation drives adoption Another important finding is that inflation appears to be a key driver of investor adoption. One reason to pay attention to the Gemini survey is that it asked questions about inflation. The report highlights that countries that have recently experienced hyperinflation tend to agree with the statement "cryptocurrencies are the future of money." Respondents from countries that experienced a 50 percent or higher devaluation of their currency against the U.S. dollar over the past 10 years were more than 5 times more likely to say they plan to purchase cryptocurrencies in the coming year than respondents from countries that experienced currency devaluations of less than 50 percent, including South Africa, Mexico, India and Brazil. In the latter country, where the local currency has been devalued by more than 200 percent against the U.S. dollar, 41 percent of respondents own cryptocurrencies. In the U.S., 40 percent of cryptocurrency holders see them as a hedge against inflation. If inflation continues to be an issue around the world, it seems likely that this trend could increase In general, the higher a country's inflation rate, the higher the adoption rate of cryptocurrencies can be. If inflation continues to be an issue around the world, it seems likely that this trend could increase. Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Forex service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The Bitcoin Fall Will Likely Continue In The Future

Looking For The Best Crypto Exchange? Where To Buy Bitcoin? Gate.io Becomes The Second Largest Crypto Exchange By Trading Volume

Finance Press Release Finance Press Release 21.04.2022 08:58
Gate.io, one of the oldest cryptocurrency exchanges in the world, has become the second largest crypto exchange by trading volume according to data from CoinGecko, securing its spot as one of the leading exchanges worldwide GateChain, its native blockchain ecosystem and Gate Ventures, its venture capital investment division Founded in 2013, Gate.io has become one of the world’s leading cryptocurrency exchanges with a wide range of products including Startup, which allows users to invest in projects early on; NFT Magic Box, which allows the creation and trading of NFTs; GateChain, its native blockchain ecosystem and Gate Ventures, its venture capital investment division. Related article: Japanese Yen (JPY) Weakens Against The Dollar, USD/CAD Stable And The Inevitable Strengthening Of The USD, IMF/World Bank Events Platform surpassing 10 million users in early 2022 Gate.io’s wide range of products and services have led to a rise in the platform’s popularity, with the platform surpassing 10 million users in early 2022, pushing it to become the second largest crypto exchange in the world based on daily trading volume according to data from CoinGecko. The company offers over 1,400 tradable cryptocurrencies on its spot market “This is another remarkable milestone for us at Gate.io as we approach our 9th birthday. Our unwavering commitment to providing our users with a safe and secure platform with a comprehensive suite of products and services remains the key to our exponential growth over the last couple of years, and we have no plans on slowing down,” said Marie Tatibouet, Chief Marketing Officer at Gate.io Related article: Monetary Policy Drives EUR/USD, The Future of the EUR/GBP Awaits the Bank Of England's Speech - Good Morning Forex| FXMAG.COM The company offers over 1,400 tradable cryptocurrencies on its spot market, which has seen daily trading volume surpass $3 billion, securing its spot as the second largest exchange in the world. Gate.io has over 10 million users worldwide and prides itself on having the widest variety of tradable assets of any leading exchange. About Gate.io Established in 2013,  Gate.io is one of the oldest, leading cryptocurrency exchanges. Gate.io offers most of the leading digital assets and has over 10 million registered users across the world. It is consistently ranked as one of the top 10 cryptocurrency exchanges based on liquidity and trading volume on CoinGecko, and has been verified by the Blockchain Transparency Institute (BTI). Additionally, Gate.io has been given a rating of 4.5 by Forbes Advisor, making it one of the Best Crypto Exchanges for 2021. Besides the main exchange, Gate.io also offers other services such as decentralized finance, research and analytics, venture capital investments, wallet services and more. Disclaimer: Gate.io may not provide its full scale of services in certain markets and jurisdictions, and may restrict or prohibit the use of all or a portion of the services in compliance with local regulations. For the latest list of all the restricted locations, please read the User Agreement, “Section II Eligibility” via https://www.gate.io/docs/agreement.pdf.
Mid-Market Update: Global PMIs collapse, Relief Rally will be tested next week, Mixed Earnings, Oil finds support, Gold shines, Bitcoin steadies

(DOT/USD) Polkadot Steals The Show! Bitcoin Price (BTC/USD) Struggles To Break Away From Support, (ETH/USD) Pauses?

Alex Kuptsikevich Alex Kuptsikevich 21.04.2022 08:25
Bitcoin added 0.3% on Wednesday, ending the day around $41,400, and is adding another 0.6% since Thursday morning to $41,630. Ethereum has gained 0.2% in the past 24 hours, while other top 10 altcoins have shown mixed dynamics, ranging from a 1.7% decline (XRP) to a 3.6% gain (Polkadot). The cryptocurrency Fear & Greed Index is now in its third day, staying at 27 points (fear) Total crypto market capitalisation, according to CoinMarketCap, rose 0.4% overnight to $1.92 trillion. Bitcoin's dominance index added 0.1 point to 41.1%. Related article: Japanese Yen (JPY) Weakens Against The Dollar, USD/CAD Stable And The Inevitable Strengthening Of The USD, IMF/World Bank Events The cryptocurrency Fear & Greed Index is now in its third day, staying at 27 points (fear), but we see a slight upward movement in the market. The strong correlation between the tech sector and bitcoin is holding the latter back In the crypto market, as in the high-tech Nasdaq, we can call it cautious demand from buyers of the deep, but this support is not turning into a rally. The strong correlation between the tech sector and bitcoin is holding the latter back That said, the very fact that bitcoin has managed to lock in an uptrend and attempts to push back from that support is setting up positives for the coming days. Related article: Monetary Policy Drives EUR/USD, The Future of the EUR/GBP Awaits the Bank Of England's Speech - Good Morning Forex| FXMAG.COM Bitcoin's uptrend of the last four months can be extended to the left, and then it appears to be close to the July 2021 low, which was then near 30k. If we are right, bitcoin, and subsequently the entire crypto market, are saved from falling into a crypto winter by long-term buyers who find the current levels quite attractive Glassnode does not rule out that bitcoin has already formed its "bottom". Although it cannot yet break out of its range formed since February. The process of redistributing coins from speculative investors to hodlers is likely already complete, which will reduce selling pressure going forward. According to BitInfoCharts, the world's third-largest bitcoin whale has acquired 2,822 BTC worth $117 million in the past seven days. In 2022, 3.6 million Americans will use the cryptocurrency to make purchases, a report by research firm Insider Intelligence predicts. The number of cryptocurrency users in the US is expected to rise to 33.7 million by the end of this year.
Terraform Labs - Liquidity Pool, SINGLE - dApp Available - DeFi Update (28/03-03/04/22)

Altcoin: IOTA, Litecoin (LTC) and Cardano (ADA) Threatened? Crypto Markets Lie in The Hands of Regulations and Government Policies?

Rebecca Duthie Rebecca Duthie 20.04.2022 22:39
Summary: The general downward price trend of the crypto market over the past week. The future of cryptocurrency success may lie in the hands of government policies and regulations. Litecoin (LTC) future values are expected to rise based on current trader sentiment. Since this morning the trading volume of Litecoin (LTC) decreased slightly, however we saw the price of the coin fall throughout the day today, this shows us that the price of LTC is not consistently supported or dependent on the trading volume. In general the cryptocurrency market experienced a decline in prices over the past few days and LTC has reflected the same outlook. However, this decline may not continue for much longer due to the changes in crypto regulations and government policies. LTC-USD Price Chart Related article: Japanese Yen (JPY) Weakens Against The Dollar, USD/CAD Stable And The Inevitable Strengthening Of The USD, IMF/World Bank Events IOTA price follows the same downward trend as other cryptos on the market. The price of IOTA fell during the day today. The downward price trend of this coin has followed the same trend as the general crypto market over the past few days. We can probably expect to see this price rise as the government policies and regulations around cryptos are finalized. IOTA USD Price Chart  Related article: Monetary Policy Drives EUR/USD, The Future of the EUR/GBP Awaits the Bank Of England's Speech - Good Morning Forex| FXMAG.COM Cardano (ADA) price is still coming down off it's all-time high. Over the past weeks ADA has been facing a continuous downward trend reflecting a bearish attitude toward the coin, however in light of the general downward price trend of the crypto market, this outlook is unsurprising. ADA Price Chart Sources: Finance.yahoo.com, namecoinnews.com
The Developments In The Crypto Sector Made It Into The Record Books (The Guinness World Records)

(BTC) Bitcoin Priceslips To The Lows Of The Year. Crypto Regulations: Confusing Discussion In The US And The EU. Ether (ETH) And Monero (XMR) Highlighted

Alex Kuptsikevich Alex Kuptsikevich 25.04.2022 08:43
Bitcoin declined by 2.3% over the past week, ending it at around $39.5K. Ethereum lost 3.9%, while other leading altcoins in the top 10 fell from 2.2% (Solana) to 10.5% (XRP). The exception was Terra (+12.9%). On Monday, the pressure on cryptocurrencies continued, taking another 1.3% off bitcoin to 38.9k, sending it to test March lows. The bitcoin dominance index rose 0.2% to 41.2% over the same period. Total crypto market capitalisation, according to CoinMarketCap, changed little over the week, remaining at 1.8 trillion, as a wave of buying in the first half of the week turned into a strong sell-off in the second. The bitcoin dominance index rose 0.2% to 41.2% over the same period. Read next (by FXPro): What Moves Forex Rates? Strong US Dollar Affects British Pound (GBP), Japanese Yen (JPY) And CNH | FXMAG.COM Crypto Fear and Greed Index rose from 24 to 27 and returned to its starting point during the week. By Monday, the index had lost another point to 23, remaining in the extreme fear territory. Bitcoin has declined for the third consecutive week, along with stock indices. BTC tried to rise, renewing its highs in a week and a half, around $43,000. Thursday and Friday saw a sharp pullback along with the stock market, and bitcoin fell below the circular $40,000 level. Changpeng Zhao, the Binance's chief executive, said the adoption of cryptocurrencies would rise as geopolitical tensions escalate and the use of the dollar as a sanctions tool grows. He believes the US will lose out to the rest of the world if it continues to suppress bitcoin. Read next (by FXPro): Want To Exchange 100 GBP To USD? GBP/USD Below 1.3000! (GBP) British Pound Weakens! GBP To USD - 17-Months-Low! | FXMAG.COM A group of US congressmen have spoken out against mining cryptocurrencies using the environmentally damaging Proof-of-Work (PoW) consensus algorithm. They said that cryptocurrencies of particular concern are BTC, ETH, XMR and ZEC. The EU has discussed banning BTC trading because of its energy and environmental impact. Bitcoin's energy consumption continues to increase and is attracting the attention of environmental organisations and regulators.
GBP: Dovish Wage Developments Lead to Lower Sterling Prices

Crypto Crash!? Top 3 Price Prediction Bitcoin (BTC), Ethereum (ETH), Ripple (XRP): Cryptos Hang By A Thread As Bulls Disappear

FXStreet News FXStreet News 25.04.2022 16:44
Bitcoin price slowly descends below the 200 three-day SMA, indicating a lack of buying pressure. Ethereum price looks ready to breach the support confluence, extending from $2,800 to $3,000. Ripple price reenters the buy zone, extending from $0.626 to $0.689, suggesting that there is still hope. Bitcoin price has slid below a crucial support level slowly indicating that the sellers are overwhelming the buyers into a slow death. Although the last two times BTC tagged this barrier, it resulted in a bullish move, this time around, things are different and could head south. Ethereum, Ripple and altcoins could see a similar bearish fate. Bitcoin price at wits’ end Bitcoin price set up an ascending parallel channel on a three-day time frame after connecting the three swing highs and three swing lows since January 13. The last two times BTC dropped lower, it tagged the 200 three-day Simple Moving Average (SMA) and bounced off aggressively. Read next: A Reward For A Transaction!? What Is Kishu Inu Coin? ($KISHU) Let's Take A Look At This New Altcoin | FXMAG.COM However, this time, BTC is slowly breaching the said SMA and is heading close to the ascending parallel channel’s lower trend line. Until a breakout from the lower trend line, the setup is bullish and could see Bitcoin price bounce from it. The resulting upswing could see BTC retest the 50-day and 100-day SMA at $42,074, $41,076. Clearing these hurdles could see the big crypto push toward the yearly open at $46,198 and in some cases, the $50,000 psychological level. BTC/USDT 3-day chart A daily candlestick close below the $34,752 support level will invalidate the ascending parallel channel and the bullish thesis. Ethereum price at make-or-break moment Ethereum price action seems to be degrading with the recent downswing in Bitcoin price. The bears have pushed ETH lower into the support cluster, extending from $2,800 to $3,000. This footing is significant since it contains a demand zone and a bullish crossover of the 50-day and 100-day Simple Moving Averages (SMAs). Read next by FXStreet: Gold Price Forecast: XAUUSD recovers from intra-day dip under $1930, but still pressured as yields/USD rise| FXMAG.COM So far, ETH has pierced through both the SMAs and is edging closer to the lower limit of the said demand zone. However, a quick recovery followed by a bounce is likely to result in an upswing for ETH. The resulting move could cause ETH to retest the 200-day SMA at $3,495 and the low-volume node at $3,703. Any uptick beyond these levels will require massive bullish momentum spikes and is highly unlikely without the big crypto’s support. ETH/USD 1-day chart A daily candlestick close below the support cluster’s lower limit at $2,820 will create a lower low and invalidate the bullish thesis. This development could crash ETH to retest the next high-volume node present to the downside at $2,584. Ripple price approaches a launching pad Ripple price has taken another U-turn and reentered the buy zone, extending from $0.62 to $0.68. This move is likely to push XRP price to retest the 70.5% retracement level at $0.657 before triggering an uptrend. Read next: Skyrocketing Altcoin? Why (SHIB) Shiba Inu price is set for a 15% value increase | FXMAG.COM The resulting uptrend could push XRP up by 17% to retest the 2022 volume point of control at $0.772, where the trade volume for Ripple was at its highest. If the remittance token manages to flip this hurdle into a footing, there is a good chance the run-up will continue to and tag the $0.854 hurdle. Failing to do so could result in a local top formation. XRP/USD 1-day chart On the other hand, if the Ripple price breaks below the $0.601 support level and produces a lower low, the bullish thesis will face invalidation. In such a situation, XRP might crash to the $0.548 support level before stabilizing and reestablishing its directional bias.
Unveiling the Hidden Giant: The Growing Dominance of Non-Bank Financial Institutions

(BTC) Bitcoin In Africa? Avalanche (AVAX), Ripple (XRP) And How To Play The Metaverse Together With Sandbox? | Crypto Market Talk | Swissquote

Swissquote Bank Swissquote Bank 26.04.2022 18:26
How can you trade the metaverse using coins like Sandbox? The power of ZRX for the area of NFTs on the Coinbase NFT Marketplace and are Cardano's stats ghost stats? 00:00 Intro 00:21 Preview 00:55 Crypto news 03:54 Bitcoin 07:24 Ripple 09:08 0x 11:09 Cardano 13:07 Aave & Avalanche 15:11 Polygon Matic 16:45 Sandbox 18:33 Good bye & subscribe Every week Feyyaz Alingan looks at the most important cryptocurrencies and discusses the most important developments in the crypto space to share his thoughts in the Crypto Market Talk. Which coins could go to the moon and which could go bust? Feyyaz Alingan founded Blue Alpine Research and regularly publishes analysis & news on the topic of cryptocurrencies, DeFi and NFTs on YouTube and via Podcast Read next: Could strong earnings reverse the hawkish Fed moodiness | MarketTalk: What’s up today? | Swissquote| FXMAG.COM What is behind the hype of the different blockchain technologies and how can YOU participate? If you don’t want to miss the dynamic world of cryptocurrencies and want to stay up to date with Bitcoin and co. - Crypto Market Talk is the best place to stay subscribed! Feyyaz Alingan founded Blue Alpine Research and regularly publishes analysis & news on the topic of cryptocurrencies, DeFi and NFTs on YouTube and via Podcast. #cryptomakettalk #trading #crypto #blockchain #token #weeklyshow #cryptoshow  Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5  Let's stay connected: LinkedIn: https://swq.ch/cH
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

Apecoin (APE), STEPN And Curve DAO Token (CRV) Have Skyrocketed! Is Bitcoin Price (BTC/USDT) Going To Do The Same?

Kucoin Blog Kucoin Blog 26.04.2022 13:00
  Table of Contents · An Overview of the Crypto Market · Top Altcoin Gainers and Losers · Crypto & Bitcoin News Highlights for Apr 18 - Apr 25 · Bitcoin (BTC/USDT) Technical Analysis on the KuCoin Chart The global crypto market cap stands at $1.78 trillion as on Monday, Apr 25. It has dipped by 3.72% since Sunday, despite the total market volume picking up by 51.08% in the past 24 hours. The DeFi market accounts for 11.84% of the entire cryptocurrency market’s 24 hour trading volume. Meanwhile, stablecoins have a a total volume of $51.58 billion, accounting for 83.74% of the total crypto market 24 hour volume.   The biggest weekly gainers in the crypto market include ApeCoin (APE) and STEPN (GMT), which have strengthened by over 55.41% and over 34.56% respectively. In this article, we’ll discuss the most important news highlights from the global cryptocurrency market as well as take a look at the technical overview of Bitcoin.   An Overview of the Crypto Market Bitcoin’s dominance currently stands at 41.28%, an uptick by 0.33% in the past 24 hours. The crypto leader is trading at $38,524.48 down by 1.25% over the past one week.   Cryptocurrency Price HeatMap | Source: Coin360   Ethereum, the world’s second-largest crypto by market capitalization, is trading at $2,828.39, after losing 4.08% over the week. While the majors trade under pressure, several new entrants have been making their mark among digital assets, most notable of all STEPN (GMT), which has strengthened by more than 300% in the past month.   The bearish pressure in the crypto market continues into a fresh week, with most of the leading digital assets still trading in the red. However, the losses in digital assets remain far lower than those seen among leading tech stocks lately. This makes us wonder, is the notorious volatility that crypto is infamous for finally reducing?   When it comes to retail investors, the seemingly oversold market offers several exciting opportunities for traders looking to buy at low prices. So, let’s do a recap of all the key market trends from the crypto market over the past week you should know about.   Top Altcoin Gainers and Losers Via Coinmarketcap Top Altcoin Gainers: ➢ ApeCoin (APE) âž 51.39% ➢ STEPN (GMT) âž 46.70% ➢ Curve DAO Token (CRV) âž 26.90%   Top Altcoin Losers : ➢ Moonbeam (GLMR) âž 13.52% ➢ Decred (DCR) âž 12.89% ➢ Waves (WAVES) âž 12.85%   Crypto & Bitcoin News Highlights for Apr 18 - Apr 25 The global cryptocurrency market remained busy through the previous week, making many headlines over the period. Some of the most noteworthy and key market trends from the world of cryptocurrencies include:   AMC Theatres Accepts Payments in SHIB and DOGE One of the biggest positive developments for the global cryptocurrency market, especially for memecoins, was AMC Theatres starting to accept payments in Dogecoin and Shiba Inu via their mobile app last week. US-based customers can now book movie tickets using DOGE and SHIB by updating their mobile apps.   This development comes a few months after the company started accepting payments in digital currencies since November 2021. The leading US-based chain of theaters first started accepting crypto payments in BTC, ETH, BCH and LTC and proposed the idea of adding the two most popular meme tokens in January this year.   BTC, ETH to Soar to New ATHs This Year: Celsius CEO Mashinsky At the Paris Blockchain Week Summit last week, the CEO at Celsius Network, Alex Mashinsky, offered a rather bullish forecast for the crypto leaders this year. He believes that while the current situation remains somewhat uncertain for digital assets, BTC and ETH could touch new highs later this year.   He forecasts a break past $60,000 for crypto king Bitcoin while Ethereum could take out the $4,500 mark before the end of 2022. However, the Russia-Ukraine war and the US central bank Federal Reserve's plans could put some pressure on the cryptocurrency market growth in the near term before this happens.   Goldman Sachs Planning Alliance With FTX on Regulatory Issues Mainstream businesses can no longer ignore crypto or hold off from dipping their toes in these waters. Leading investment bank Goldman Sachs is looking to cement an alliance with crypto exchange FTX, a sure sign of increasing confidence in digital assets by the mainstream financial services industry.   An article by the Financial Times discusses how FTX’s founder Sam Bankman-Fried met with Goldman Sachs’ CEO David Solomon to examine a potential partnership. It looks like the investment banker wants to advise FTX on regulatory issues and possibly even support their future funding rounds.   German Commerzbank Plans Foray Into Crypto The fourth largest bank in Germany, Commerzbank, has applied for a crypto license in the country. Germany is fast turning into one of the most crypto-friendly destinations in the world and such a move will further increase this sentiment and encourage mainstream adoption of digital assets in the German financial sector.   Commerzbank confirmed last week that it had applied for a crypto license in January 2022. It plans to start with providing crypto-related services to institutional clients before rolling it out to a wider customer base in the future.   Given that the bank has around 70,000 institutional clients, it’s a large enough customer base that could soon gain access to the digital asset market via Commerzbank.   Twitter Testing Crypto Earnings Feature for Creators in USDC via Stripe While the Elon Musk saga with Twitter continues (the latest we hear is that he has secured the funds for the acquisition), the social network is getting busy with its plans to become more crypto-friendly by accepting virtual currency.   Crypto payment giant Stripe announced last Friday that it will work with Twitter to roll out a payment system for digital currencies. The partnership will allow Twitter’s creators to start accepting payments in USD Coin (USDC), powered by Polygon's blockchain technology.   Robinhood Acquires Ziglu to Enter UK Market Popular fintech app Robinhood has confirmed its acquisition of London-based crypto app Ziglu Limited. The move will allow the app to start servicing its UK-based customers, a move the company has been waiting to accomplish since 2020.   Since Ziglu is already registered with the UK’s Financial Conduct Authority (FCA), Robinhood’s decision to acquire the company will ease its own process to expand into this market from a regulatory perspective. The fintech app is credited as one of the key drivers for the crypto boom among retail investors in North America through 2020 and 2021.   Google Data Points to Declining Interest in Bitcoin Among Retail Investors According to the key market trends from Google Trends, there appears to be a decline in global search volume for Bitcoin in recent weeks. The sign could potentially point to dwindling interest in digital currencies among retail investors worldwide.   Bitcoin Interest Amount Retail Investors | Source: Google Trends   With the bearish mood in the global cryptocurrency market in recent weeks, we see a sharp decline from the highs seen in April 2021 in online search volumes for Bitcoin worldwide. However, what is encouraging is that, though the numbers are lower than last year, they are mostly holding steady through 2022.   Fear & Greed Index Still Very Much in the Red Market analysis of the crypto market’s Fear & Greed Index reveals a sentiment of Extreme Fear among investors at present. There has been a one point drop in the sentiment since Sunday and also over the past week.   Fear & Greed Index | Source: Alternative   There has also been a sharp drop in the index since last month when the index stood at 51, indicating a neutral bias. On the other hand, the current reading of the index is 23, well in the red, indicating that sellers have the upper hand in the market at present.   The sentiment of Extreme Fear continues from last week into Monday. Although this indicates a bearish mood, it can be a good opportunity to buy virtual currencies at lower prices. A good strategy for crypto beginners who want to ride the volatility could choose Dollar Cost Averaging (DCA) Strategy during this time.   Bitcoin (BTC/USDT) Analysis on the KuCoin Chart With the price getting rejected last Thursday/Friday on the 50-day moving average (green trend-line) but holding and closing all daily candles above the first line of support (red upwards-facing line), Bitcoin was seemingly entering a short-term consolidation phase.   However, in depth analysis of the recent price movement has shown a relatively strong push towards the downside in the past 24 hours, with the price dropping as low as $38,150.   BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   If we take a look at the downside, Bitcoin has its first support level set at the upwards-facing channel bottom level, which currently sits at just over $37,000. If Bitcoin manages to break this level to the downside, it will face a 100-week moving average at the $35,600 level.   However, a bullish reversal might push Bitcoin’s price up towards the top of the current channel and all the way to the Dec 27 high of 52,070.   Which move are you counting on?   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.   Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange Download KuCoin App >>> https://www.kucoin.com/download Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast source: KuCoin
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Bitcoin lies at the bottom

Alex Kuptsikevich Alex Kuptsikevich 03.05.2022 11:38
Bitcoin rose 0.6% on Monday, ending the day near $38.4K, cruising at arm's length from the $38K level for the past five days. Ethereum has settled near $2800, losing 0.5% over the past 24 hours. Other altcoins in the top 10 have shown mixed dynamics, ranging from a decline of 1.9% (Solana) to a rise of 1.5% (Terra). Total crypto market capitalisation, according to CoinMarketCap, declined 0.7% overnight to $1.74 trillion. Bitcoin's dominance index added 0.2% to 42.1%. The cryptocurrency Fear and Greed Index was down 1 point to 27 by Tuesday and remains in "fear" mode. Since late March, the bears have been intensifying from $39K, forming a sequence of lower highs. At the same time, the basis in the form of support at $38K generally remains untouched. The crypto market seems to have laid at the bottom, missing the momentum of the US indices growth at the close of trading, indicating a high supply of coins for sale and reluctance to take active actions in anticipation of the Fed's decision on Wednesday. But there may be another lower bottom if the FOMC reaction to the Fed leads to a stock market sell-off.    According to Santiment, large investors have been aggressively buying Ethereum and Binance Coin over the past two weeks, which could signify an impending trend reversal. JPMorgan Chase CEO Jamie Dimon said that cryptocurrencies offer advantages over fiat currencies in some respects, such as fast transaction times for payments. However, Dimon still recommends caution when investing in crypto-assets. According to Coin ATM Radar, the global bitcoin ATM installation rate declined for the fourth consecutive month in April. Meanwhile, Solana's blockchain went down for seven hours to carry out transactions due to a surge in operations that the network could not cope with. Billionaire Mark Cuban suggested using DOGE to fight spam on Twitter, which Elon Musk recently bought out.
The Commodities Feed: Iranian Oil Flows Rise Amid Market Headwinds, Natural Gas Volatility Ahead

Top 3 Price Prediction (BTC) Bitcoin, (ETH) Ethereum, (XRP) Ripple: Official start to recovery rally

FXStreet News FXStreet News 04.05.2022 16:23
Bitcoin price prepares for its ascent to $42,100 after bouncing off a stable support level. Ethereum price needs to overcome the $3,000 barrier to have any chance at revisiting $3,500 or $4,000. Ripple price begins its journey to $0.70 after a recovery above the $0.60 support level. Bitcoin price has kick-started its attempt to move higher, picking up Ethereum and Ripple along with it. Investors can expect BTC to revisit Monday’s high and reevaluate directional bias from there. Bitcoin price begins its journey higher Bitcoin price bounces off the lower trend line of the ascending parallel channel, which is formed after drawing trendlines above and below three sets of higher highs and higher lows. Investors can expect BTC to slice through the 100-day Simple Moving Average (SMA) at $41,009, which is the first major hurdle. Doing so, will allow it to retest the 50-day SMA at $41,921, which coincides with the daily supply zone, extending from $43,981 to $41,921. This area of confluence is where the upside will be capped for the big crypto and would represent a 10% gain. BTC/USDT 3-day chart Regardless of the bullish outlook, a daily candlestick close below the $34,752 support level will invalidate the bullish thesis and trigger a crash to $30,000 or lower. Ethereum price to reverse the trend Ethereum price is in a medium-term ascending channel created by connecting its two higher highs and three higher lows since January 28. The third retest of the lower trend line has shown a bullish reaction – lead cryptocurrency BTC is recovering and influencing the rest of the market. Regardless of the bullishness, ETH needs to flip the 100-day SMA at $2,914 followed by the 50-day SMA at $3,069 to continue rising. This development is key to triggering a move that tags the 200-day SMA at $3,443. While a move to $3,500 is likely, a surge in buying pressure could extend the run-up to the $4,000 psychological level. ETH/USD 1-day chart On the other hand, a daily candlestick close below the weekly support level at $2,541 will indicate a resurgence of selling pressure and invalidate the bullish thesis. This could trigger a further crash to the $2,000 psychological level. https://youtu.be/hDdFa7mu7Jo Ripple price purges sell-side pressure Ripple price purged the downside pressure by collecting the liquidity resting below the $0.60 support after a 30% crash. XRP price has since moved back above the said foothold, indicating that buyers are in control. A resurgence of buying pressure is likely to propel XRP price up to the immediate hurdle at $0.696. Clearing this barrier will present two further resistance levels for Ripple bulls to overcome - the 50% retracement level at $0.735 and the 2022 volume point of control at $0.768. For now, the market structure looks uncertain due to the choppiness of Bitcoin. Therefore, investors can expect a local top to form around $0.768, representing a 25% ascent from the current position at $0.615. XRP/USD 1-day chart A daily candlestick close below the $0.601 support level will produce a lower low and invalidate the bullish thesis. In such a case, XRP price is likely to crash to the $0.548 support level. https://youtu.be/hBoG1pklXYI
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

BTC – Good Things Take Time!

Richard Nasr Richard Nasr 04.05.2022 13:09
As per my last BTC posts, we have been waiting for a break above the last major high for the bulls to take over. Which obviously didn't happen Meanwhile, we are still bearish and yes we might still see an aggressive movement lower to take our the wicks highlighted in purple (33k-35k) before the bulls kick in. For now, BTC is around the 38k-40k support and for the reversal to be confirmed, we need a momentum candle close above the last high in gray which would also be a break above the 40k level, back inside the blue rising channel , thus a bullish movement till the upper bound (48k-50k) would be expected. I have attached USDT.D chart on the right, as it clearly highlights the two possible scenarios. Which scenario do you think is more likely to happen? and Why? Always follow your trading plan regarding entry, risk management, and trade management. Good Luck!. All Strategies Are Good; If Managed Properly! ~Rich
Gain Or Loss? How Are Bitcoin (BTC), Ripple (XRP) And Ethereum (ETH) Doing? By Jason Sen (DayTradeIdeas) - 08/05/2022

Gain Or Loss? How Are Bitcoin (BTC), Ripple (XRP) And Ethereum (ETH) Doing? By Jason Sen (DayTradeIdeas) - 08/05/2022

Jason Sen Jason Sen 08.05.2022 11:46
Bitcoin lower as expected as we collapse from strong resistance at 40100/300 & now holding below the 100 week moving average at 36000 as I write - for a very important sell signal. Ripple has well & truly broken the 100 week moving average, now at 6700/6750. Ethereum we wrote: bulls have defended the 500 day moving average at 2800/2750 all this week but the failure to beat strong resistance at 2950/3000 I think will trigger a break below here now for an important sell signal. I am talking crash conditions. As expected, we have broken lower for an important sell signal. Today's Analysis Bitcoin shorts at resistance at 40100/300 worked as prices collapse to my targets of 37500/37000 & the important 100 week moving average now at 36000. THIS IS MEGA IMPORTANT OVER THE WEEKEND. Holding below 36000 is a MAJOR SELL SIGNAL. First stop is 28900/700. Obviously bulls need prices above 36000 as quickly as possible, preferably above 37000 to show they are back in control, targeting 38200/400. We should struggle to beat this level here but a break above 38900 then targets 41500/42000. Ripple remains very much in a bear trend & selling in to resistance has been a successful strategy for us for a number of weeks. We have 9 month trend line support at 5680/40, with a low at 5800 so far as I write on Saturday morning. A break below here (& I would be careful if you bet against it) triggers further significant moves to the downside initially targeting 5100/5070. On a break below 5050I am looking for 4300/4250, just to start with. Obviously bulls desperately need prices above 6750 to get back in the game but this seems highly unlikely now. Ethereum breaks strong support at 2800/2750 & holds below here for a medium term sell signal exactly as predicted, targeting 2640 (hit), 2600, 2570 & 2500 (just to start with). Bulls obviously need prices above 2800 as soon as possible but I cannot se this happening. If I am wrong, look for a test of the 100 day moving average at 2900/2950. Shorts need stops above 3000. A break higher is a medium term buy signal.   To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk
(BTC/USD) Bitcoin will fall until the bulls capitulate, ETH/USD Has Lost, (XRP) Ripple And (ADA) Cardano Have Decreased As Well

(BTC/USD) Bitcoin will fall until the bulls capitulate, ETH/USD Has Lost, (XRP) Ripple And (ADA) Cardano Have Decreased As Well

Alex Kuptsikevich Alex Kuptsikevich 09.05.2022 08:46
Bitcoin is trading near $33.5K on Monday morning, declining for the fifth consecutive day. Over the past 24 hours, losses are 2.3%, and are approaching 14% over the past seven days. Ether loses 3.5% in 24 hours and 14.3% for the week, settling near $2450. Altcoins from the top ten are down between 0.8% (XRP) and 4.3% (Cardano). This situation points to an increasingly rapid exit from cryptocurrencies Total crypto market capitalisation, according to CoinMarketCap, is down 2.3% overnight to $1.54 trillion. More worryingly, volumes are rising along with falling prices. This situation points to an increasingly rapid exit from cryptocurrencies, even though the process takes place without sharp dips. We see an orderly exit – a sure sign that downward sentiment may prevail. The Cryptocurrency Fear and Greed Index has collapsed to 11 The optimists, however, have something to hang on to. The Cryptocurrency Fear and Greed Index has collapsed to 11. Over the past year, the index has been at the current or lower level six times, and on each occasion, we have seen either consolidation or the start of a rally and a rebound. In March 2020, when the index similarly reached single digits, we saw an influx of long-term buyers. The current extreme fear may attract buyers who have been waiting for extreme oversold conditions to buy cryptocurrencies long term. In our case with Bitcoin, this could translate into a sharp acceleration of the sell-off after falling below $30K However, we note that the amplitude of crypto market fluctuations does not resemble either a capitulation of enthusiasts or a wave of stop orders triggering. Typically, a trend reversal is preceded by a sharp increase in momentum with the eventual resignation of those who stood against the trend. In our case with Bitcoin, this could translate into a sharp acceleration of the sell-off after falling below $30K, all the way to the $23K or even the $20K area. It is only from this level that major long-term buyers can be expected to emerge.
USD/JPY Technical Analysis: Awaiting Breakout from Consolidation Range

Bitcoin Price (BTC/USD) Plunges, Is Crude Oil Endangered!? Awaiting Disney, AMC And Rivian Earnings | Soft US inflation could reverse risk appetite this week! | MarketTalk: What’s up today? | Swissquote

Swissquote Bank Swissquote Bank 09.05.2022 11:05
Last week closed on a negative note, as US NFP data came in stronger-than-expected, revived Federal Reserve (Fed) hawks, and sent the major US indices lower. And the new week starts on a negative note, as well, after the Chinese Li Keqiang warned that the jobs situation in China is getting ‘complicated and grave’ as the government’s zero Covid policy is taking a heavy toll on the country’s economy, and impacts the rest of the world negatively, as well. But US inflation print due Wednesday could help improving investor sentiment this week, if the data confirms a slow down in US inflation from multi-decade high levels. The next natural target for Bitcoin bears is the $30K psychological support Oil is up this Monday on G7 commitment to ban Russian oil, but Saudis cut the price of their oil due to the Chinee slow down. The US 10-year yield gains field above 3% mark, and US dollar consolidates near two-decade highs. Bitcoin dived to the lowest levels since January over the weekend. The next natural target for Bitcoin bears is the $30K psychological support. The only thing that could reverse the dollar appreciation against majors, and Bitcoin is a soft inflation read on Wednesday! Watch the full episode to find out more! 0:00 Intro 0:33 Week starts moody 1:12 Oil up 3:00 Strong jobs revive Fed hawks, but soft CPI could calm them down! 5:06 Macro events of the week 6:46 Bitcoin hits lowest since January 8:03 Earnings calendar: Lordstown, AMC, Disney, Occidental Petroleum & Rivian 8:51 End of Rivian’s lockup period, beginning of new challenge Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.
(BTC/USD) Bitcoin drops to 33k USD! Ether (ETH) Drops, Litecoin (LTC) Is Below The Technical Support, Cardano (ADA) ... What will the market do next? | by Geco.one

(BTC/USD) Bitcoin drops to 33k USD! Ether (ETH) Drops, Litecoin (LTC) Is Below The Technical Support, Cardano (ADA) ... What will the market do next? | by Geco.one

Geco One Geco One 09.05.2022 15:32
Bitcoin has fallen by more than $6,700 in recent days. It increased the range of the ongoing depreciation, which started on 28 March, to over $14,800 - nearly 31%. Counting from the all-time peak in November 2021, the BTC exchange rate dropped by almost $56,000, nearly 51%. Such a significant sale meant that you had to pay less than $34,000 for Bitcoin on Monday morning, one of the lowest levels since July 2021. Given that breaking one technical support level usually opens the door to further drops to the next support area, a decline in BTC below $34,500 could signal its continuation towards $29,500, which would be one of the lowest levels since early January 2021. Read next: Look At That! Bitcoin (BTC/USD) Has Plunged By 22%! Huge Drop Of ETH/USD (Ethereum Price) Price Is Here As Well! | FXMAG.COM The current Ethereum situation is also very interesting. The exchange rate of this cryptocurrency fell by more than $1,150 in just over a month, which was over 32%. These declines caused the ETH price to slide below the upward trend line. The subsequent sell-off also beat horizontal support of $2,735, and we also saw an attempt to go below $2,500 on Monday morning. Read next: Geco.one Crypto Update! Ether (ETH) Has Decreased By Ca. $750! Plunging (BTC/USD) Bitcoin Price! Bitcoin Has Fallen By More Than $4,000 In Recent Days, Solana (SOL) Is Below $100 | FXMAG.COM All this means that we could expect further depreciation of ETH to the region of $2350 soon. However, if this support is also defeated, then the price of this cryptocurrency could go even towards $1,750. It is only there that another significant support is found, in the vicinity of which we could expect a more substantial demand response. Looking at the Litecoin quotations, we can see that the price of this cryptocurrency has recently dropped below the technical support of $95. You currently have to pay around $90 for LTC, the lowest level since December 2020. Counting from the peaks of May 2021, the exchange rate of this cryptocurrency has already dropped by over 78%. As long as this sale continues, Litecoin could return to around $67 - only there is another important support. The current situation on the Polygon cryptocurrency prices is also interesting. Over the last five days, the Matic price has lowered by more than 22%, thus increasing the depreciation range that started on 31 March to over 47%. Counting from the peak of implant times on 27 December 2021, the price of this cryptocurrency has already plunged by 68.5%. Read next: What Is (DYDX)? dYdX Cryptocurrency Supporting Perpetual Trading - Altcoins of Interest | FXMAG.COM Such a large sell-off naturally led to several significant support zones, the last of which was at $1. If the market were to move towards another technical support now, we could see a return to the $0.69. It is only there that there is another barrier in the vicinity of which we could expect the emergence of greater demand response. We could also expect a continuation of declines in the Cardano quotations. Its price lowered since September last year by almost 78%. Such a significant sale meant that you had to pay just over $0.69 for this cryptocurrency, the lowest level since February 2021. As long as the sell-off continues, the ADA rate could drop as low as $0.40. You can watch the Market Analysis here: Start your Crypto trading adventure with https://app.geco.one
EUR/USD Downside Risks in a Bearish Bond Market: Assessing the Impact of 10-Year Treasury Yields at 5.0%

Sell in May and go away - 2022 version | Conotoxia

Conotoxia Comments Conotoxia Comments 10.05.2022 11:11
Financial markets still seem to be discounting the prospects of more difficult and expensive capital raising after interest rate hikes and a weaker outlook for the economy with consumption falling due to inflation. For the first 10 days of the month alone, the German Dax fell by about 4 percent, the U.S. Nasdaq 100 by 3.7 percent, the S&P 500 by 2.5 percent Thus, the stock market saying sell in May and go away in 2022 sounds prophetic, as since the beginning of the month it has been hard to find financial assets that could gain in value. For the first 10 days of the month alone, the German Dax fell by about 4 percent, the U.S. Nasdaq 100 by 3.7 percent, the S&P 500 by 2.5 percent, and the DJIA by 1.5 percent. Silver has dipped by 4.5 percent, Meanwhile, since the beginning of the month, the U.S. dollar has gained 0.64 percent. The markets are therefore seeing a broad outflow into cash as part of the potential cash phase of the business cycle, which typically occurs before the bond phase, when these have reached the peak of their yields. This, in turn, may be related to the anticipation of interest rate hikes and a peak in inflation. Nevertheless, it can be added that today's financial market offers solutions that can allow trading both under the rise and also under the fall of financial asset prices, including cryptocurrencies. It is cryptocurrencies that may be the loudest again today, since the beginning of May brought a crash in this market. It is cryptocurrencies that may be the loudest again today, since the beginning of May brought a crash in this market. Tonight bitcoin was trading near of $29,000, which was the lowest value since the crash in May 2021. It is safe to say that history has repeated itself in May 2022, and the background seems very interesting. We are talking about the breaking of the stablecoin UST, which at one point was trading below $0.7. This in turn may have forced the release of bitcoin reserves, which were a hedge against a 1:1 UST to USD exchange rate and a massive supply of BTC tonight. The event was reminiscent of George Soros' breaking of the Bank of England or the release of the franc from the minimum exchange rate at 1.20 against the euro. Whether cryptocurrencies can recover from this remains an open question, as one of the stable coin foundations has been undermined Once again the financial market, this time in crypto, served up an event like we have never seen before and on a scale that has not been seen before. Whether cryptocurrencies can recover from this remains an open question, as one of the stable coin foundations has been undermined. Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Forex service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Crypto Prices: Check Bitcoin (BTC/USD), ETH, Solana (SOL) And Avalanche (AVAX Price). Bitcoin Price At 30K, Back To The Bottom Of The Long-Term Range | FxPro

Crypto Prices: Check Bitcoin (BTC/USD), ETH, Solana (SOL) And Avalanche (AVAX Price). Bitcoin Price At 30K, Back To The Bottom Of The Long-Term Range | FxPro

Alex Kuptsikevich Alex Kuptsikevich 10.05.2022 08:42
Bitcoin collapsed 9.5% on Monday and dipped temporarily below $30K in early trading on Tuesday, stabilising at $31.3K. Ethereum has lost 3.9% in the past 24 hours, while other leading altcoins in the top 10 have fallen from 8.7% (Solana, Cardano) to 12% (Avalanche). Bitcoin's dominance index rose 0.3% to 41.8% on more altcoin weakness Total crypto market capitalisation, according to CoinMarketCap, fell 7% overnight to $1.44 trillion. Bitcoin's dominance index rose 0.3% to 41.8% on more altcoin weakness. Terra and TerraUSD continue to lose ground The cryptocurrency Fear and Greed Index was down 1 point to 10 by Tuesday and remains in a state of "extreme fear", touching a low point for the seventh time in the past year. An even higher level of fear in the last four years that we have only seen in March 2020 and September 2019. The current plunge is a retouch of the lows made in January and July last year for the first cryptocurrency Terra and TerraUSD continue to lose ground. Against this backdrop, the Luna Foundation Guard (LFG) has committed $1.5bn to protect the "stability of UST and the Terra ecosystem as a whole". Stablecoin UST, designed to be as close to the value of the USD as possible, lost more than 30% at one point overnight. But at the time of writing, it is trading at a 14% discount to the US currency. The current plunge is a retouch of the lows made in January and July last year for the first cryptocurrency. This could look like a last line of defence for the bulls, who may try to push back from the lower end of the trading range since early January. However, many markets are on a similar informal frontier separating a correction from a potential collapse, so the situation in the crypto market could largely determine sentiment in the deeper debt and equity markets. As we can see, Ether and Bitcoin remain resilient and robust enough to make them somewhat of a safe harbour within the stormy crypto sea Judging by the dynamics of Stablecoin, the crypto market is undergoing one of its most massive tests of the entire market periphery, which could determine the credibility of the crypto market for many months or years to come. As we can see, Ether and Bitcoin remain resilient and robust enough to make them somewhat of a safe harbour within the stormy crypto sea. At the same time, the collapse in quotations has not yet affected miners' confidence in the cryptocurrency's future, as the BTC network's hash rate continues to grow. Ray Dalio, the founder of Bridgewater Associates, one of the biggest hedge funds, said that bitcoin should be in investors' portfolios. Still, the cryptocurrency itself is not a good competitor to gold in terms of inflation protection. But that could change in the next five to 10 years.
Weekly Crypto Analysis: Bitcoin Falls to Half Its Peak, Everything You Should Know Today | KuCoin

Bitcoin Price (BTC/USD) Falls And We're Wondering When The Bearish Market Ends... Weekly Crypto Analysis: Bitcoin Falls to Half Its Peak, Everything You Should Know Today | KuCoin

Kucoin Blog Kucoin Blog 10.05.2022 12:03
Table of Contents · Crypto Market Overview · Top Altcoin Gainers and Losers · News Highlights This Week · Bitcoin (BTC/USDT) Analysis on KuCoin Chart On Monday, cryptocurrency prices were in a slight bearish mode and the global crypto market cap was $1.60 trillion, down 3.36 percent from the previous day. Total crypto market volume fell 12.97 percent in the last 24 hours to $80.16 billion.   The total volume in DeFi was $9.10 billion, accounting for 11.35 percent of the total 24-hour volume in the crypto market. All stable coin volume was $74.84 billion, accounting for 93.35 percent of the total crypto market 24-hour volume.   Algorand (ALGO) and TRON (TRX), which increased by more than 20% and 15% respectively, were two major contributors to the gains. So let's take a quick look at the latest crypto market news and the technical outlook of Bitcoin.   Crypto Market Overview Bitcoin dominance is now sitting at 41.60%, down from 42.32% last week. The leading cryptocurrency by market was trading at $33,546.49 while Ethereum, the second-largest cryptocurrency by market capitalization, has plunged by 14.24% in the past seven days. On Monday, it was trading at $2,433.30, a 4.49% surge in 24 hours.   Algorand (ALGO), TRON (TRX), and 1inch Network (1INCH), on the other hand, remained the top performers from the previous week. ALGO increased by more than 20% to trade at $0.072, while TRX increased by 20.72% in the last seven days to $0.08613. 1INCH, on the other hand, rose 11.53% to $1.29.   Cryptocurrency Market Heatmap | Source: Coin360   While ApeCoin (APE) maintained its bearish momentum, losing 31.72% to $11.14 in the last seven days. The crypto market's trading sentiment has shifted negatively due to risk-off sentiment, and digital assets are struggling to rise.   Top Altcoin Gainers and Losers Top Altcoin Gainers: ➢ Algorand (ALGO) âž  31.72% ➢ TRON (TRX) âž  27.05% ➢ 1inch Network (1INCH) âž  26.08%   Top Altcoin Losers: ➢ ApeCoin (APE) âž  31.72% ➢ Terra (LUNA) âž  27.05% ➢ Kava (KAVA) âž  26.08%   News Highlights Here are some of the events that made the previous week's crypto news section stand out:   Klein Finance Completed a Funding Round With KCC Chain and KuCoin-Ventures Klein Finance, a KCC (Kucoin Community Chain)-based stable coin liquidity provider and exchange platform, has announced the launch of its funding program. KuCoin Ventures and the KCC chain have already invested millions of dollars.   Klein Finance's project technology development is believed to be nearly complete, and the new funds will be used for project promotion and team expansion, as well as the subsequent opening of the technology and expansion of its structured products. Klein Finance's financing plan is said to be continuing.   Value Locked in DeFi Slides 17% to $182 Billion Decentralized finance (DeFi) protocols have lost considerable value in the last month, with 17.77 percent shaving off the TVL in defi since April 8, 2022. Curve Finance, the largest DeFi protocol in TVL size, lost 16.55 percent in value over the last month, while Lido lost 13.28 percent. This month, Anchor's TVL is down 10.15 percent, Makerdao's TVL is down 20.48 percent, and Aave's TVL is down 21.12 percent.   Total Value Locked | Source: defillama   Aave's version three (v3) and Tron's Sunswap protocols saw significant 30-day TVL gains. The TVL in defi has lost 6.25 percent of its value in the last 24 hours, and the largest protocol by TVL today is Curve Finance. Curve's $17.24 billion TVL currently leads the aggregate by 9.46 percent as of Sunday afternoon (ET).   However, the drop in TVL is putting additional pressure on overall crypto trading sentiment, driving a bearish bias in the cryptocurrency market.   Bitcoin Extends Sell-Off as US Federal Reserve Hikes Fed Fund Rate by 50 Basis Points Bitcoin is tossing in profit and losses at $33,366 amid risk-off market sentiment. Since February, it fell to its lowest level and has dropped around 14 percent since last Monday. The digital asset has fluctuated between $33,000 and $48,000 since the beginning of the year. It was the last trading under $32,000 in July. Ether, Avalanche, and Solana have all dropped this week.   Bitcoin has largely traded in tandem with tech stocks; both the coin and the tech-centric Nasdaq 100 reached all-time highs in November and have since been on a volatile downward path. The Nasdaq 100 fell for the fifth week in a row.   The Federal Reserve raised the fed funds rate target by half a point to 0.75 percent -1 percent during its May 2022 meeting, the second consecutive rate hike and the largest increase in borrowing costs since 2000, in an effort to combat rising inflation.   The central bank also stated that further increases in the target range will be appropriate, with Chair Powell indicating 50 basis point hikes in the coming meetings.   On June 1st, the Fed will also begin reducing asset holdings on its $9 trillion balance sheet. For the first three months, the plan will roll off $30 billion in Treasuries and $17.5 billion in mortgage-backed securities per month, increasing to $60 billion and $35 billion for mortgages per month.   On the economic front, policymakers noted that the invasion of Ukraine and related events are adding to inflationary pressures and are likely to stifle economic activity. Furthermore, COVID-related supply chain disruptions in China are likely to exacerbate.   Risk-off Sentiment Drives Downtrend in Crypto and Stocks The market's trading sentiment has shifted to bearish or risk-off, as investors seek to invest in risk-free securities rather than risky assets such as stocks and cryptocurrencies. With an increase in interest rates, companies that use debt financing must pay higher interest rates, reducing their profitability. As a result, investors who want to receive dividends or capital gains tend to sell their securities or stocks on the stock exchange.   Traders redirect their investments to less risky assets such as government bonds and treasury bills. As we recently learned, there is a positive correlation between the global stock markets and cryptocurrency prices. As a result, a drop in the stock market is causing a drop in cryptocurrencies. Check out the KuCoin trading strategies for surviving a cryptocurrency crash.   Fear and Greed Index Signals Extreme Fear, Cryptos on a Downtrend The Crypto fear and greed index analyzes emotions and sentiments from various sources and condenses them into a single number. The Fear & Greed Index for Bitcoin and other major cryptocurrencies is calculated daily. The crypto market sentiment shows a score of 11, indicating a strong bearish sentiment across the investors.   Fear & Greed Index | Source: Alternative   On Monday, the fear and greed index continues to exhibit extreme fear, indicating a bearish bias among cryptocurrency traders is getting weaker. Extreme fear can indicate over-anxious investors. It could be a good time to buy as cryptocurrency markets are in an oversold zone. So, look for buying positions as the bulls may enter soon.   Bitcoin (BTC/USDT) Analysis on KuCoin Chart Bitcoin is trading at $33,600, with a strong bearish bias. On the daily timeframe, the BTC/USDT is heading south to retest the major support level of $32,990. Since the BTC/USDT has formed a bearish engulfing pattern, the odds of a downtrend continuation remain pretty high.   Furthermore, the candlestick pattern "Three Black Crows" also signaled a solid bearish trend. The RSI and MACD are holding under 50 and 0, respectively, indicating a selling trend. Hence, a downward breakout of the 32,990 support level exposes the BTC/USDT price towards the $29,050 level.   BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   On the upside, the leading cryptocurrency, Bitcoin’s immediate resistance stays at the $37,400 level. A spike in demand, and a slice through the $37,400 level exposes Bitcoin towards $40,000 or $42,600 levels.   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.       Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange Download KuCoin App >>> https://www.kucoin.com/download Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: KuCoin
Some Of Investors Are Scared That (BTC/USD) Bitcoin Price Will Fall Below $20K.... Bitcoin 2022 Roadmap to $19k & $16k

Some Of Investors Are Scared That (BTC/USD) Bitcoin Price Will Fall Below $20K.... Bitcoin 2022 Roadmap to $19k & $16k

Peter Adepoju Peter Adepoju 10.05.2022 19:29
#Bitcoin Update🔥 Technically, we are repeating the same movement as in 2017. Bitcoin dropped by -84% from all time high from $19,799 to $3,159. As displayed on the chart, the major zone that served as a strong support was violated and Bitcoin dropped by -47% from $6,000 support to $3,159 in 2017. Read more: Tech Stocks Plunging!? Trade Desk Earnings Announcement Pushes Tech Giant Stock Down, Russian Ruble Strengthening and Ford Motor Co. | FXMAG.COM This same setup is repeating itself. The current bear cycle started in November 2021. So far, Bitcoin has dropped by -58% from all time highs at $68,996 to $29,000. Price has been respecting the major support within $29,000 & $30,000 so far. Just as 2017, support got violated at the tail end, I expect a similar reaction and a drop by -47% or less from major support at $29,000 to $16,000 or $19,000. Not a financial advice🙅🏼‍♂️ Share your opinion in the comment section Read more: Despite The Year The Stock Market Has Seen, One Asset Has Succeeded: The US Dollar| FXMAG.COM Please support this idea with a LIKE if you find it useful Happy Trading https://www.tradingview.com/chart/BTCUSDT/PJoZplyZ-Bitcoin-2022-Roadmap-to-19k-16k/ Join my FREE Telegram Channel for daily updates and signals https://t.me/Petrock_Signals
Mid-Market Update: Global PMIs collapse, Relief Rally will be tested next week, Mixed Earnings, Oil finds support, Gold shines, Bitcoin steadies

End Of Crypto Crash? Price Of Bitcoin (BTC/USD) Massive Support

Craig Erlam Craig Erlam 11.05.2022 08:40
Will it break this time? It goes without saying that it’s been a pretty torrid six months for bitcoin since hitting all-time highs close to $69,000. Soaring inflation has forced central banks around the world into action and at the most aggressive pace since the global financial crisis. What’s more, there’s much more to come, so much so that recessions may well be on the cards. Risky assets have been pummelled as a result, few more so than the ultimate risk asset – bitcoin. Cryptos are no strangers to volatility, even the likes of which we’re currently witnessing, with bitcoin now more than 50% from its highs. But is this time different? They haven’t had to contend with aggressive rate hikes and widespread risk aversion in the way we’re seeing now. At one time, bitcoin was being called a safe haven, an inflation hedge, and a deflation hedge, among other things. Right now, it’s clear it’s a risk asset and one that could be in for a lot more pain if a key support level is broken. We’ve seen $30,000 tested many times before and each time it has rallied strongly from that level – there have been brief moves below but they’ve always been short-lived – establishing it as a critical level of support in the process. If that level significantly breaks, it could be a real blow and we could see sentiment turn far more negative rapidly. Below here, there’s no obvious support until $20,000 with $24,000 perhaps offering some reprieve. The reason is the rally after breaking above $20,000 was so aggressive it took only 17 days to hit $30,000 and it’s barely traded below since. Could we see a repeat in reverse? This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Avalanche Price Declined By 10.8%, Ether (ETH) Has Gone Up A Little Bit, Bitcoin Price stabilised but has trouble to reverse strongly | FxPro

Avalanche Price Declined By 10.8%, Ether (ETH) Has Gone Up A Little Bit, Bitcoin Price stabilised but has trouble to reverse strongly | FxPro

Alex Kuptsikevich Alex Kuptsikevich 11.05.2022 10:01
Bitcoin added a symbolic 0.1% on Tuesday, ending the day around $31K and adding another $500 this morning. Ethereum has been adding 0.2% in the past 24 hours. Other leading altcoins from the top 10 showed mixed dynamics, ranging from a 10.8% decline (Avalanche) to a 0.2% gain (Binance Coin). The total capitalisation of the crypto market, according to CoinMarketCap, declined 1.6% overnight to $1.42 trillion. The Bitcoin Dominance Index rose 0.4% to 42.2%. The Cryptocurrency Fear and Greed Index added 2 points to 12 by Wednesday, starting recovery from an area where it rarely lingered. Cardano creator Charles Hoskinson has announced the beginning of new crypto winter Although Bitcoin managed to close Tuesday’s trading with a proper strengthening, a powerful offensive did not happen, as bull buying was choked again by stock market pessimism. It remains a situation where the stock or debt markets will determine whether we see another rebound from the critical $30K level or a failure of support and a complete surrender of the buyers. Cardano creator Charles Hoskinson has announced the beginning of new crypto winter. However, he does not see any factors that could trigger the market to rebound soon. Read more: Making Interest On Crypto Holdings!? Aqru: Cryptocurrency Staking Platform | FXMAG.COM Cryptocurrency investment company Galaxy Digital reported a net loss of $111.7 million for the first quarter of this year. Galaxy Digital founder Mike Novogratz allowed bitcoin to decline further in the coming quarters due to the negativity on Wall Street. Meanwhile, last week saw an influx of institutional investors into crypto funds after four weeks of capital withdrawals. El Salvador has bought another 500 bitcoins at an average of $30,744 MicroStrategy chief executive Michael Saylor said it has no plans to sell its cryptocurrency reserves. He said bitcoin would have to fall below $3562 for the firm to have insufficient assets to secure loans. El Salvador has bought another 500 bitcoins at an average of $30,744 amid a fall in the crypto market. Last autumn, the country’s recognition of BTC as legal tender was a landmark event for the global economy.
Cautious optimism

ECB's Lagarde Teases Rate Hike, Bitcoin Price (BTC/USD) Defends From Deep Plunge

Craig Erlam Craig Erlam 11.05.2022 17:06
Stock markets are pushing cautiously higher again on Wednesday as investors await a huge inflation report from the US ahead of the open on Wall Street. The report is expected to be the first that will indicate inflation has peaked and a sharp decline is underway. That doesn’t mean inflation is expected to return to target any time soon but it will come as a massive relief to investors, households and businesses alike after months of watching price pressures accelerate higher. The fear is that the data today doesn’t tell us what we want to hear. A slower deceleration or worse, none at all, would be an enormous blow and I expect equity markets would feel the full effects of it. The extent to which that would be the case would obviously depend on how bad the data is. On the flip side, considering the shock to equity markets recently, a low reading that marks the end of the ascent and falls in line with the view that price pressures will ease considerably in the months ahead could be very positive for stock markets. Investors will be hoping the inflation data can provide a tailwind for equity markets for the rest of the year and perhaps even allow for interest rate expectations to be pared back. There may be some scarring from the last six months which may stop investors from getting too excited initially but indices are at a steep discount now after recent moves and a low inflation reading could tempt some back in. Lagarde drops subtle rate hike hint After months of pushback, it seems the ECB is forming a consensus around raising interest rates in the coming months. Noises from policymakers in recent weeks have alluded to that and Christine Lagarde today ever so slightly deviated from her policy of ambiguity to hint at the possibility of a July hike. That would align with where markets stand on the lift-off and make the ECB the latest central bank to abandon its transitory argument and belatedly start tightening. Whether Europe will pay the price for their hesitation, as may be the case in the UK, US, New Zealand and many other countries, isn’t clear. It may well depend on how swiftly it agrees to raise rates and how entrenched inflation becomes. There’s no doubt they don’t quite have the problem the UK and US have, for example. Bitcoin stays above crucial support as Terra plunges Bitcoin survived a brief dip below USD 30,000 on Tuesday and is making small gains so far today, easing pressure on the critical support in the process. It could have been much worse for bitcoin if it got caught up in the Terra debacle, which is down more than 50% on the day despite being a stablecoin by definition. That it hasn’t sent shockwaves throughout the broader crypto space will come as a relief to bitcoin HODLers for now. But that could change and a break below USD 30,000 could make them very uncomfortable. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Bitcoin Price (BTC/USD) - Buckle Up For A Bumpy Ride

Bitcoin Price (BTC/USD) - Buckle Up For A Bumpy Ride

Richard Nasr Richard Nasr 11.05.2022 20:40
Bitcoin is now sitting around a strong support zone and round number 30kMoreover, the 30k is a demand zone as we previously had an aggressive movement upward from it. Keep in mind that no matter how strong a support is, it can still be broken. That's why we don't buy blindly. Read next: (BTC) Bitcoin’s Price Tanks Along With Equities. U.S. Stock Market Awaits CPI Report, Poor Performance From The FTSE 100.  As per my trading style: I will be looking for potential bullish reversal setups on lower timeframes (like a double bottom , trendline break , and so on...) Meanwhile, BTC can still break the 30k support downward, in this case, a movement till the next rejection would be expected which would be the 20k demand zone in red Read next: Tech Stocks Plunging!? Trade Desk Earnings Announcement Pushes Tech Giant Stock Down, Russian Ruble Strengthening and Ford Motor Co.  Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
What caused the bankruptcy of the cryptocurrency lender, Celsius?

Crypto Crash!? Bitcoin (BTC/USD) Managed A Small Bounce In The Bear Trend, (XRP) Ripple broke the 100 week moving average at 6700/6750 | DayTradeIdeas | 12/05/2022

Jason Sen Jason Sen 12.05.2022 10:47
Bitcoin managed a small bounce in the bear trend to my 32000/32100 level & collapsed again as expected in the bear trend. Obviously outlook remains negative. Ripple broke the 100 week moving average at 6700/6750 & then 9 month trend line support at 5680/40 as predicted for another sell signal targeting 4300/4250. No trouble hitting that target!! We have hit 3450 & of course the outlook remains negative with further significant losses expected. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM Ethereum broke the 500 day moving average at 2800/2750 as predicted for an important sell signal hitting all downside targets as far as 1920. A huge profit ion shorts & outlook remains negative with further significant losses expected as panic sets in. Today's Analysis Bitcoin break below 28600 is our next important sell signal as we hit 27000. Huge profits on our shorts this week. Further losses are expected of course, as we look for 25800/700 & 24400/200, eventually as far as 21900/700. Gains are likely to be limited as I always write!! Resistance at 28800/29000 & 30000/30200. Read next: (BTC) Bitcoin’s Price Tanks Along With Equities. U.S. Stock Market Awaits CPI Report, Poor Performance From The FTSE 100.  Ripple panic has set in & I imagine stops have been triggered after important levels were broken as we target 3400, 3200, 300 & eventually 2500. Huge profits on our shorts this week. Ethereum crashed after my new sell signal to my target of 1920. Next target is the 8 month trend line support at 1800/1700. I would not try longs myself. A break below here is obviously another important sell signal. Losses could then accelerate to the downside. We could hit 1300 very quickly. Gains are likely to be limited with strong resistance at 2100/2200. Shorts need stops above 2300. 2900/2950. Shorts need stops above 3000. A break higher is a medium term buy signal.   To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk
Doge (DOGE) Vs Bitcoin (BTC) - Elon Musk Comments!

(USDT) Tether's Not That Stable? JPY Goes Higher, How Will It Perform Against US Dollar? | Saxo Bank

Saxo Bank Saxo Bank 12.05.2022 15:42
Summary:  Fires are springing up everywhere and it feels like markets are under siege, but the volatility curve doesn’t even look particularly alarming yet. We focus on the areas that could continue to keep markets on tilt, including the breaking of the largest "stable" coin Tether already in evidence today after Bitcoin melted through a huge chart level yesterday, the Hong Kong dollar peg under pressure, the Tesla-Bitcoin-Ark triangle, etc. In FX, the focus is on the jolt higher in the JPY even more so than the ongoing USD strength, while commodity traders have it relatively easy on the volatility front. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX. Listen to today’s podcast and have a look at today’s slide deck. Follow Saxo Market Call on your favorite podcast app: Apple  Spotify PodBean Sticher If you are not able to find the podcast on your favourite podcast app when searching for Saxo Market Call, please drop us an email at marketcall@saxobank.com and we'll look into it.   Read next: Saxo Bank: Markets are assessing the global growth outlook and the pace of Fed tightening| FXMAG.COM   Questions and comments, please! We invite you to send any questions and comments you might have for the podcast team. Whether feedback on the show's content, questions about specific topics, or requests for more focus on a given market area in an upcoming podcast, please get in touch at marketcall@saxobank.com.   Read next: Philip Morris Buys Match, Fed Members Spills The Tea And Gold Price Nears Quite Low Values | Saxo Bank| FXMAG.COM   Source: Saxo Bank
The US Has Again Benefited From Military Conflicts In Other Parts Of The World, The Capital From Europe And Other Regions Goes To The US

Fast rising U.S. CPI data adds to equity market woes | Saxo Bank

Saxo Bank Saxo Bank 12.05.2022 16:22
Summary:  The larger than expected April U.S. CPI and core CPI reversed the attempt of the equity market to rebound and brought major U.S. equity indices firmly back onto their down trends. The surprising strength in services is particularly worrying and the money market is pricing in 143 bp hikes (i.e. almost three 50 bp hikes) in the next three FOMC meetings. What’s happening in markets? What spooked markets overnight was US inflation rose more than expected, which gives the Fed more ammunition to rise rates (more than they mapped out). Rising rates will cause further carnage, as when rates rise, bond yields tend to rise, which may trigger the US 10-year bond yield, to rise back over 3%,  (which is a better yield than the Nasdaq and S&P500 combined – just think about that for a second). As such the Nasdaq (with an average dividend yield of 0.9%) continued to fall and lost 3.2%. The Tech heavy index is down 28% from its high, and the technical indicators suggest it will likely continue to fall on a weekly and monthly basis, which supports our bearish fundamental view. The S&P500 lost 1.7% on Wednesday, (it has an average dividend yield of 1.66%). The U.S. treasury yield curve flattened 13 bps since yesterday’s CPI release.  The 10-year yield fell 10 bps to 2.89% while the 2-year yield rose 3 bps to 2.64%. It is worthwhile to note that the 10-year yield has fallen 30 bps in just three days from its May 9 high of 3.20%.  The treasury market is sending signals of investors being worried about a sharper slow-down in the U.S. economy.  In Australia, the Aussie share market fell 1% and hit a support level 6,991 points, but energy companies hit new highs. If the ASX200 falls further bellow this level, it could fall 2.2% to the next support (at 6,837 points). The technical indicators, suggest this could occur, with the MACD and RSI suggesting a weekly and monthly could pull back. We ideally need to see better than expected news to break the cycle. All in all though, it’s worthwhile continuing to back those stocks that are outperforming and are likely to outperform this trajectory, with rising cashflow and earnings growth. Just take a look at today’s best performing stocks as an example. In Energy there is Ampol (ALD) up 3.5% with its shares hitting a 2-year high, and Viva Energy (VEA) up 3% to its highest level since 2019. China and Hong Kong equity markets rebounded from their lows. After a weak opening, stocks traded in Hong Kong, Shanghai and Shenzhen rebounded from their lows.  Hang Seng Index (HSI.I) was down  1% and CSI300 (000300.I) recouped all its early loss to close the morning session flat.  Infrastructure related A share, in particular county seat modernization names rallied.  Sunac China, China’s 4th largest property developer, failed to make a coupon payment of a dollar bond.  The news pushed down the shares of other Chinese developers traded in Hong Kong. Asia stocks follow Wall Street down. Japan’s Nikkei (NI225.I) was down 1% in the Asian morning following US CPI release overnight and the slide in US indices overnight. Steel makers like Japan Steel (5631) and Kobe Steel (5406) surged in a big way after earnings results and profit outlook was better than expected. Singapore’s STI Index (ES3) was also in the red. Singtel (Z74) was up over 1% leading on the index as it broadened its 5G network to underground metro line. Chinese electric car maker Nio (NIO) is going to start trading on the Singapore stock exchange form May 20. FX range trading continues. The USD had a hard time reacting to the US inflation print, suggesting range trading patterns may continue for now. While USDJPY slipped below 130 on lower real yields, EUR was still unable to overcome inflation and growth worries even with Lagarde hinting at a rate hike for July on stickier inflation, it dipped slightly to remain above 1.05 support. AUDUSD’s move above 0.7000 was not sustained and NZDUSD returned to sub-0.6300. GBPUSD is making a steadier move below 1.2300 ahead of UK GDP release. What to consider? US inflation may have peaked but the descent will be slow and painful. April U.S. CPI came at 8.3% YoY.  Core CPI, which excludes food & energy,  was 6.2% higher from a year ago.  Reiterating what we said in this piece, while headline inflation may be showing signs of peaking as base effects turn, it is likely to stay at these elevated levels. It was important to note that the 0.6% monthly increase of Core CPI  has brought inflation back to the uncomfortably high 0.5%-0.6% range from October 2021 to February 2022, after a temporary moderation in March.  Another worrying sign was the +0.7% core service price, which was the highest since 1990. Regular rents and owner-equivalent rents rose faster than expected and prices of reopening related spending, such as airfares and hotel lodging rose sharply. The US consumer remains very strong, which gives pricing power to companies. Services inflation will also broaden further, suggesting we are in for a higher-for-longer mode. Take into the mix, a prolonged war, sustained disruptions from China and still-tight labor market. This means Fed’s hawkish rhetoric is set to stay. The money market has moved towards pricing in a 50bp hike in the Sept FOMC on top of the two 50bp moves anticipated for June and July. Oil bulls pin their ears back: Both the Saudi oil Chief and UAE have warned that all energy sectors are running out of capacity, which supports our view that the oil price will hit higher levels over the longer term and also once China is out of lockdown. That being said, Saudi Aramco (ARAMCO) has strengthened regardless, along with many other oil companies, as their cashflows are rising at record paces. ARAMCO has now overtaken Apple as the world’s most valuable company. As we have been saying for some time now, it’s wise to consider revisiting oil stocks and oil ETFs. For instance, the ETF OOO that tracks the oil price, looks like it could break above a key trigger level and re-enter another uptrend, so that’s worth consideration. Also have a look at your favorite large oil stocks with rising earnings growth. Malaysia’s rate hike will be a signal for the region. Bank Negara Malaysia started the rate hike cycle yesterday as we had expected, turning away from its patient stance in April. This comes on the back of a similar rate increase decision from the Reserve Bank of India last week in an out-of-cycle meeting. Ringgit interest rate swaps are now pricing in over 75-basis points of rate hikes over the next 6 months. This similar surge in hawkish pricing is being seen across emerging Asia, suggesting more pain for EM bonds. Potential trading ides that could be worth your consideration? US dollar and US dollar ETFs move higher. As mentioned last week the USD dollar is supported higher along with US dollar ETFS. The Invesco USD Index Bullish Fund ETF closed at a brand new record high overnight. BetaShares USD ETF is also hitting higher levels and looks like. As previously mentioned, also as our head of FX Strategy also said, we are bullish on the USD, as higher volatility and bond yield are expected. This supports the USD and USD ETFs. BTC s in a bearish long term downtrend pressured by long term yield rising. For investors it could be worth considering shorting Bitcoin given rates are likely to continue to rise for now. Buy USDHKD 12-month forward. HKD interest rates are set to rise towards or even go above those of the USD as the Hong Kong Monetary Authority (HKMA) withdraw HKD liquidity in its move to buy HKD against USD.  As the USDHKD spot rate touches 7.85, which is the weak-side convertibility undertaking of the HKMA, the HKMA intervened by buying HKD versus the dollar this morning.  Given the strength of the US dollar and the weak economic sentiment in Hong Kong and the mainland, it is likely that the HKMA will have to continue to intervene and withdraw HKD liquidity further.  Given the ample ammunition that the HKMA has in defending HKD’s Linked-exchange Rate Regime, investors who are interested in betting on persistent weakness in the HKD would be better off to take a long position of USDHKD 12-month forward (currently at around 7.83) which can go up as HKD interest rate rise even when the spot being capped at 7.85.  Key economic releases this week: Thursday: India April CPI, US April PPI Friday: US Univ of Michigan sentiment, US import price index   Key earnings release this week: Thursday: Verbund, KBC Group, Brookfield, Fortum, Siemens, Allianz, Merck, Hapag-Lloyd, RWE, Atlantia, Snam, NTT, SoftBank Group, Aegon, Naturgy Energy, Motorola Solutions Friday: Deutsche Telekom, KDDI, Honda Motor, Alibaba   For a global look at markets – tune into our Podcast.  Source: Saxo Bank
GBP: Dovish Wage Developments Lead to Lower Sterling Prices

Ether (ETH), (BTC) Bitcoin, LUNA, NFT - They All Plunge! Crypto Market Crash Aka "Cryptogeddon" | Conotoxia

Conotoxia Comments Conotoxia Comments 12.05.2022 17:55
George Soros' speculative attack on the Bank of England, the removal of the EUR/CHF minimum exchange rate and finally the collapse of Lehman Brothers - these are the events of the classical financial world, the scale of which may reflect what is currently happening in the world of cryptocurrencies. Unexpected factors like war could have led to price declines Sentiment in the cryptocurrency market seemed to have already deteriorated since last autumn, which could also correlate with the traditional stock markets that are part of the riskier asset category. Expectations of interest rate hikes, the cash phase of the business cycle in anticipation of higher inflation and lower GDP growth, or later, unexpected factors like war could have led to price declines. However, the current events, are no longer just a simple correction, but a true test of the entire crypto-system. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM The collapse of the NFT market The breakdown of the Terra ecosystem by detaching the 1:1 convertibility of UST to USD, the fall of its main token - Luna, from over $100 a piece to a dozen cents, the collapse of the NFT market, the attempt to detach the convertibility of the largest stablecoin USDT from 1:1 to USD, and the massive discounts of bitcoin and ethereum, the largest cryptocurrencies - these are all events that happen at once, and in a very short time, and the market is trying to cope with them. This, in turn, can cause extreme fear among cryptocurrency holders similar, perhaps, to the fear in the eyes of tech company stock holders when the dot-com bubble burst. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM On the occasion of the prior cycle, the price of BTC fell from around $19,000 to around $3,000 Nevertheless, anyone who participates in the cryptocurrency market must also be aware of its cyclicality, especially when it comes to bitcoin and halving cycles. From this perspective, a classic bear market may currently be forming ahead of the next halving, which is expected to occur in March 2024. From a historical perspective, it is during the time occurring between the two halving cycles (the previous one was in 2020) that the biggest correction in the BTC price may occur. On the occasion of the prior cycle, the price of BTC fell from around $19,000 to around $3,000. If this is compared to bitcoin's peak in 2021 around $70,000, then even a drop to $11,000 would not be out of the ordinary. However, never before has the cryptocurrency ecosystem been as extensive as it is now, nor has it been as large as it is now, hence perhaps the scale of the repricing in the cycle may not be as significant as before. Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Forex service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Binance Academy: Value Of (BTC) Bitcoin Explained. Fiat Money - What Is It?

Binance Academy Binance Academy 12.05.2022 17:36
TL;DR Bitcoin derives its value from a variety of different attributes. Ultimately, both crypto and fiat currencies have value because of trust. As long as society believes in the fiat system, money will continue to have value. We can say the same for Bitcoin: it has value because users believe it does, but there is more to consider. Unlike fiat, Bitcoin has no central bank, and its decentralized structure allowed for the creation of a unique financial system. Blockchain technology offers a great deal of security, utility, and other benefits. It also provided a revolutionary way of dealing with the transfer of value globally. In many ways, Bitcoin can also act as a store of value similar to gold. Introduction One of the biggest struggles for newcomers to crypto is grasping how and why a cryptocurrency like Bitcoin (BTC) can have value. The coin is digital, has no physical asset backing it up, and the concept of mining can be very confusing. In a sense, mining creates new bitcoins out of thin air. In practice, though, successful mining requires a very costly investment. But how can all of this make BTC valuable? Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Think about the money we all use daily. There’s no longer gold or assets backing up our banknotes. Money that we borrow often exists only as numbers on a screen, thanks to fractional reserve banking. Governments and central banks like the Federal Reserve can create new money and increase its supply through economic mechanisms. Although there are remarkable differences, BTC, as a digital form of money, shares some similarities with the fiat money we are all used to. So, let’s discuss first the value of fiat money before we dive into the cryptocurrency ecosystem. Learn more on Binance.com Why does money have value? In short, what gives money value is trust. Essentially, money is a tool used to exchange value. Any object could be used as money, as long as the local community accepts it as payment for goods and services. In the early days of human civilization, we had all kinds of objects being used as money - from rocks to seashells. What is fiat money? Fiat money is the one issued and officialized by a government. Today, our society exchanges value through the use of paper notes, coins, and digital numbers on our bank accounts (which also define how much credit or debt we have).   Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM In the past, people could go to the bank to exchange their paper money for gold or other precious metals. Back then, this mechanism ensured that currencies like the U.S. dollar had their value tied to an equivalent amount in gold. However, the gold standard was abandoned by the majority of nations and is no longer the basis of our monetary systems.  After removing a currency's ties to gold, we now use fiat money without any backing. This uncoupling gave governments and central banks more freedom to adopt monetary policies and affect the money supply. Some of the main characteristics of fiat are: It’s issued by a central authority or government. It has no inherent value. It’s not backed by gold nor any other commodity. It has an unlimited potential supply. Why does fiat have value? With the removal of the gold standard, we seemingly have a currency without value. Money does, however, still pay for our food, bills, rent, and other items. As we discussed, money derives its value from collective trust. Therefore, a government needs to firmly back and successfully manage a fiat currency to succeed and maintain a high level of trust. It’s easy to see how this breaks down when faith in a government or central bank is lost due to hyperinflation and inefficient monetary policies, as seen in Venezuela and Zimbabwe. Why does crypto have value? Cryptocurrencies have some things in common with our standard idea of money, but there are some remarkable differences. Although some crypto like PAXG are pegged to commodities like gold, most cryptocurrencies have no underlying asset. Instead, trust once again plays a significant role in the value of a cryptocurrency. For example, people see value in investing in Bitcoin, knowing that others also trust Bitcoin and accept BTC as a payment system and medium of exchange. For some cryptocurrencies, utility is also an important factor. To access certain services or platforms, you may need to use a utility token. A service in high demand will therefore provide value to its utility token. Not all cryptocurrencies are the same, so their value really depends on the features of each coin, token, or project.   Read next: Binance Academy: Crypto Fear And Greed Index Explained| FXMAG.COM When it comes to Bitcoin, we can narrow it down to six features that we’ll discuss in more detail later: utility, decentralization, distribution, systems of trust, scarcity, and security. What is intrinsic value? A lot of the discussion regarding Bitcoin’s worth is whether it has any intrinsic value. But what does this mean? If we look at a commodity like oil, it has intrinsic value in producing energy, plastics, and other materials. Stocks also have intrinsic value, as they represent equity in a company producing goods or services. In fact, many investors perform fundamental analysis in an attempt to calculate an asset’s intrinsic value. On the other hand, fiat money has no intrinsic value because it’s just a piece of paper. As we’ve seen, its value derives from trust. The traditional financial system has many investment options that carry intrinsic value, from commodities to stocks. Forex markets are an exception as they deal with fiat currencies, and traders often profit from short or mid-term exchange rate swings. But what about Bitcoin? Why is Bitcoin valuable? The value of Bitcoin is a subjective topic with many differing opinions. Of course, one could say that the market price of Bitcoin is its value. However, that doesn’t exactly answer our question. What’s more important is why people judge it to have value in the first place. Let’s dig a bit deeper into some of the characteristics that make Bitcoin valuable. Bitcoin’s value in utility One of the major benefits of Bitcoin is its ability to quickly transfer large amounts of value worldwide without the need for intermediaries. While it can be relatively expensive to send a small amount of BTC due to fees, it’s also possible to send millions of dollars cheaply. Here, you can see a Bitcoin transaction worth around $45,000,000 (USD) sent with a fee of just under $50 (as of June 2021).     While Bitcoin isn’t the only network that makes this possible, it’s still the largest, safest, and most popular. The Lightning Network also makes small transactions possible as a layer two application. But regardless of the amount, being able to make borderless transactions is certainly valuable. Bitcoin’s value in decentralization Decentralization is one of the key features of cryptocurrencies. By cutting out central authorities, blockchains give more power and freedom to the community of users. Anyone can help improve the Bitcoin network due to its open-source nature.  Even the cryptocurrency’s monetary policy works in a decentralized manner. The work of miners, for example, involves verifying and validating transactions, but it also ensures that new bitcoins are added into the system at a predictable, steady rate. Bitcoin’s decentralization gives it a very robust and secure system. No single node on the network can make decisions on everyone’s behalf. Transaction validation and protocol updates all need to have group consensus, protecting Bitcoin from mismanagement and abuse. Bitcoin’s value in distribution By allowing as many people as possible to participate, the Bitcoin network improves its overall security. The more nodes connected to Bitcoin's distributed network, the more value it gets. In distributing the ledger of transactions across different users, there’s no need to rely on a single source of truth. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Without distribution, we can have multiple versions of the truth that are difficult to verify. Think about a document sent via email that a team is working on. As the team sends the document among themselves, they create different versions with different states that can be difficult to track. Also, a centralized database is more susceptible to cyber-attacks and outages than a distributed one. It’s not uncommon to have issues using a credit card because of a server issue. A cloud-based system like the one of Bitcoin is maintained by thousands of users around the world, making it much more efficient and secure. Bitcoin’s value in systems of trust Bitcoin’s decentralization is a huge network benefit, but it still needs some safeguarding. Getting users to cooperate on any large, decentralized network is always a challenge. To solve this problem, known as the Byzantine General’s Problem, Satoshi Nakamoto implemented a Proof of Work consensus mechanism that rewards positive behavior.  Trust is an essential part of any valuable item or commodity. Losing trust in a central bank is disastrous for a nation's currency. Likewise, to use international money transfers, we have to trust the financial institutions involved. There is more inbuilt trust in Bitcoin's operations than other systems and assets we use daily. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM However, Bitcoin users don't need to trust each other. They only need to trust Bitcoin's technology, which has proven to be very reliable and secure and the source code is open for anyone to see. Proof of Work is a transparent mechanism that anyone can verify and check themselves. It’s easy to see the value here in generating consensus that is almost always error-free. Bitcoin’s value in scarcity Inbuilt within Bitcoin's framework is a limited supply of 21,000,000 BTC. No more will be available once Bitcoin miners mine the last coin around 2140. While traditional commodities like gold, silver, and oil are limited, we find new reserves every year. These discoveries make it difficult to calculate their exact scarcity.  Once we have mined all BTC, Bitcoin should, in theory, be deflationary. As users lose or burn coins, the supply will decrease and likely cause an increase in price. For this reason, holders see a lot of value in Bitcoin's scarcity. Bitcoin's scarcity has also led to the popular Stock to Flow model. The model attempts to predict BTC's future value based upon Bitcoin mining per year and the overall stock. When back-tested, it quite accurately models the price curve that we have seen so far. According to this model, the main driving force in Bitcoin's price is its scarcity. By having a possible relationship between price and scarcity, holders find value in using Bitcoin as a store of value. We'll dive further into this concept at the end of the article.   Bitcoin’s value in security In terms of keeping your invested funds safe, there aren’t many other options that provide as much security as Bitcoin. If you follow the best practices, then your funds are incredibly secure. In developed countries, you can easily take for granted the security offered by banks. But for many people, financial institutions cannot provide them the protection they need, and holding large amounts of cash can be very risky. Malicious attacks to the Bitcoin network require owning more than 51% of current mining power, making coordination on this scale almost impossible. The probability of a successful attack on Bitcoin is extremely low, and even if it happens, it won’t last long. The only real threats to the storage of your BTC are: Fraud and phishing attacks Losing your private key Storing your BTC in a compromised custodial wallet where you don’t own the private key By following best practices to make sure the above doesn’t happen, you should have a level of security that exceeds even your bank. The best part is that you don’t even have to pay to keep your crypto safe. And unlike banks, there are no daily or monthly limits. Bitcoin allows you to have full control over your money. Bitcoin as a store of value Most of the characteristics already described also make Bitcoin a good fit as a store of value. Precious metals, U.S. dollars, and government bonds are more traditional options, but Bitcoin is gaining a reputation as a modern alternative and digital gold. For something to be a good store of value, it needs: Durability: So long as there are still computers maintaining the network, Bitcoin is 100% durable. BTC cannot be destroyed like physical cash and is, in fact, more durable than fiat currencies and precious metals. Portability: As a digital currency, Bitcoin is incredibly portable. All you need is an Internet connection and your private keys to access your BTC holdings from anywhere. Divisibility: Each BTC is divisible into 100,000,000 satoshis, allowing users to make transactions of all sizes. Fungibility: Each BTC or satoshi is interchangeable with another. This aspect allows the cryptocurrency to be used as an exchange of value with others globally. Scarcity: There will only ever be 21,000,000 BTC in existence, and millions are already lost forever. Bitcoin’s supply is much more limited than inflationary fiat currencies, where the supply increases over time. Acceptability: There's been widespread adoption of BTC as a payment method for individuals and companies, and the blockchain industry just continues to grow every day. If you want to explore the topic a bit more, check out Is Bitcoin a Store of Value?. Closing thoughts There is, unfortunately, no single and neat answer as to why Bitcoin has value. The cryptocurrency has the key aspects of many assets with worth, like precious metals and fiat, but doesn't fit into an easily identifiable box. It acts like money without government backing and has scarcity like a commodity even though it's digital.  A general lack of knowledge and misunderstanding has led some to question whether Bitcoin has any value at all. With words like "scam" and "Ponzi scheme" used, it's easy to see that some people have unfounded fears. But, ultimately, Bitcoin runs on a very secure network and the cryptocurrency has a considerable amount of value placed on it by its community, investors, and traders.
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

(BTC) Bitcoins Price Crashes, Could The Nasdaq Be In Recovery Mode?, (GBP/USD) Bullish Market Sentiment For The Pound Sterling Against The USD

Rebecca Duthie Rebecca Duthie 12.05.2022 17:31
Summary: Rising inflation and hawkish reserve banks left investors risk averse. No particular news driving the stock price turn around for the market. Read next: Stock Market Showing Signs Of Slight Recovery Amidst U.S CPI Report Release  Bitcoins prices crashing The price of Bitcoin crashed almost 7% during the trading day on Thursday. The reason for this seems to be the same as what is happening with investors on the wider financial market, investors are turning risk averse and selling off their Bitcoin holdings in the wake of economic insecurity. The current crash is dropped lower than the value during the crash in July 2021. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM The Fed’s increasing interest rates was an initial driver for investor sentiment to change bearish, the increasing interest rates made it more expensive to make bets on the financial markets. Investors are less confident in the ability of cryptocurrencies to hold their value as regulators battle rising inflation. Bitcoin USD Price Chart GBP likely to weaken further According to dailyfx.com, investors are betting on the Pound Sterling to strengthen against the US Dollar. The information the market has right now is that the UK economy is slowing, and likely to enter into a period of stagflation, this will likely cause the value of the GBP to weaken further. The future value of the GBP is not looking too bright. Nasdaq turns around. The Nasdaq has seen poor market performance during the trading week. However, during trading on Thursday, we have seen the stock price for the Nasdaq turn around. According to finance.yahoo.com, there does not seem to be any particular news driving this stock turn around. Nasdaq Price Chart Read next: Tech Stocks Plunging!? Trade Desk Earnings Announcement Pushes Tech Giant Stock Down, Russian Ruble Strengthening and Ford Motor Co.  Sources: slate.com, poundsterlinglive.com, finance.yahoo.com
Commodities: EU Members Manage To Agree On Price Caps For Russian Oil

The ugly crypto meltdown | MarketTalk: What’s up today? | Swissquote

Swissquote Bank Swissquote Bank 12.05.2022 11:03
US inflation data didn’t print a soft-enough figure to reverse the market selloff. Disappointing US inflation data sent another shock wave to the US stock markets sending all major US indices tumbling on Wednesday. The S&P500 lost more than 1.5%, while Nasdaq tumbled more than 3%. Bitcoin slumped below the 2021 lows on the back of a broad-based risk-off selloff, and panic due to TerraUSD losing its dollar peg earlier this week. The US dollar remained upbeat, and the dollar index returned above the 104 mark as the lower-than-expected cool down in the US inflation figure revived the Fed hawks. Gold rebounded from the 200-DMA, as the US 10-year yield eased despite yesterday’s higher-than-expected inflation print in the US The pound-dollar is testing the 1.22 this morning as the UK-European relationship is souring on the Northern Ireland headache. Gold rebounded from the 200-DMA, as the US 10-year yield eased despite yesterday’s higher-than-expected inflation print in the US, as US crude saw a decent dip buying interest below the $100 per barrel, even with the souring prospects of a healthy global economic recovery. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM   Watch the full episode to find out more! 0:00 Intro 0:28 Panic in cryptocurrencies as Terra loses dollar peg 2:22 Coinbase down on SEC filing about bankruptcy 4:08 Markets down on softer cool down in US inflation 6:37 Disney down, Rivian up after earnings announcement 7:25 USD up, pound down on souring EU-UK relations 8:23 Gold, oil rebound Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.
Crypto Market Crash: Bitcoin Seeing $28.6K, Altcoins - Ether (ETH) Has Gained 16%, Solana (SOL) 25%, Cardano (ADA) 41.4% | FxPro

Crypto Market Crash: Bitcoin Seeing $28.6K, Altcoins - Ether (ETH) Has Gained 16%, Solana (SOL) 25%, Cardano (ADA) 41.4% | FxPro

Alex Kuptsikevich Alex Kuptsikevich 13.05.2022 08:58
Bitcoin added 0.6% on Thursday, ending the day around $28,600, a modest gain but a significant intraday win. Bitcoin managed to find support near $25K on Thursday morning, reversing a multi-day decline. Since the start of the day on Friday, the rate has moved back above $30.5K (+6.9%). Total crypto market capitalisation, according to CoinMarketCap, jumped 14% overnight to $1.32 trillion This could be both the start of an extended buying wave and a trap for the bulls. After serious oversold previous days, altcoins rose at a double-digit pace in the last 24 hours. Ethereum is adding 16%, once again above $2K. The top 10 other leading altcoins are soaring from 25% (Solana) to 41.4% (Cardano). Total crypto market capitalisation, according to CoinMarketCap, jumped 14% overnight to $1.32 trillion. The cryptocurrency fear and greed index was down 2 points to 10 by Friday and remains in “extreme fear” The bitcoin dominance index lost 0.3 percentage points to 44.4% due to weaker altcoins. The cryptocurrency fear and greed index was down 2 points to 10 by Friday and remains in “extreme fear”, but it largely ignores the optimism of recent hours. Thus, the indicator’s current low levels might also attract “buy when you are scared” buyers. LUNA lost nearly 100% of its value Do Kwon, head of Terraform Labs, presented a recovery plan for the UST stablecoin. Against this backdrop, the cryptocurrency LUNA lost nearly 100% of its value. The Terra blockchain has halted. According to media reports, Do Kwon was previously behind Basis Cash – another failed stablecoin blockchain project. The USDT stablecoin price tested the $0.94 level on Thursday amid market turbulence. Paolo Ardoino, technical director of issuer Tether, said the company has enough reserves to buy back all assets at a 1:1 ratio to the US dollar. Tron founder Justin Sun saw signs of an imminent attack on the USDD algorithmic stack coin launched on the Tron network in May. Sun announced a $2 billion allocation from the TRON DAP Reserve organisation to prevent such a scenario.
Crypto Crash Shocked Many, The Most Sensational Bit Was The Terra (LUNA) Plunge. Is (USD) US Dollar's Rally About To End? BP Has Decreased Slightly, So Does GBP/USD. This Week Has Been Full Of Events | Swissquote

Crypto Crash Shocked Many, The Most Sensational Bit Was The Terra (LUNA) Plunge. Is (USD) US Dollar's Rally About To End? BP Has Decreased Slightly, So Does GBP/USD. This Week Has Been Full Of Events | Swissquote

Swissquote Bank Swissquote Bank 13.05.2022 10:35
The dust seems to be settling in cryptocurrencies. Terra and Luna are now worth almost nothing but Bitcoin returned past the $30K, which is a sign that the confidence in the broader sector may have not been damaged as much as we first feared. European stocks opened in the green and US futures are pointing to the upside, yet volatility remains high, warnings that the wind could change direction rapidly, and the high volatility environment is more favourable for further losses than sustainable gains. European gas futures gained another 13% yesterday, and the pressure on energy prices remain clearly tilted to the upside   On the geopolitical front, the Europeans are going around their own sanctions against Russia by opening accounts with Gazprom bank to pay the Russian gas in exchange of rubles (!!), but the latest news suggest that Russia is now cutting the German gas as a retaliation to its sanctions. Of course, the Europeans have been quite bad in this poker game - they showed too openly how scared they were to lose the Russian gas that now, Russia is gaining the upper hand. European gas futures gained another 13% yesterday, and the pressure on energy prices remain clearly tilted to the upside. Saudi Aramco has surpassed Apple in terms of market capitalization this week, to become the world’s most valuable company, and the US dollar index extended gains to a fresh 20-year high. Everyone is now wondering when the dollar rally will end! Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM   Watch the full episode to find out more! 0:00 Intro 0:32 The dust settles in cryptocurrencies 2:22 Market update 3:13 Energy remains upbeat... 4:21 ... and Aramco is now the world's biggest compagny 5:00 High vol hints at further headache 6:34 Meme pop up 7:28 Dollar extends gains, raising bets that it's soon time for correction! Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.
Oil Defies Broader Risk-off Sentiment: Commodities Update

Gold Price (XAUUSD) Nears 3-Month Low, The US Dollar (USD) Performance Agains (EUR) Euro Makes EUR/USD Decrease 2016's Lows And (BTC) Bitcoin Price Is Back Above $30K | Conotoxia

Conotoxia Comments Conotoxia Comments 13.05.2022 11:43
Gold held near three-month lows near 1,825 USD per ounce on Friday and is falling for the fourth week in a row from 1990 USD. One factor for the decline in gold prices could be the strengthening U.S. dollar, which seems to have stabilized near the 20-year high reached on Thursday. The USD strengthening may have followed the release of US consumer and producer inflation data, which seems to reinforce expectations of aggressive interest rate hikes by the Federal Reserve. This, in turn, may raise concerns about a weaker global economic outlook, helping to boost USD demand. The recent strengthening of the USD may also be related to the divergence in monetary policy on both sides of the Atlantic Recall that the U.S. core CPI remained near a 40-year high of 8.3 percent in April, while the core CPI also exceeded expectations at 6.2 percent, fueling fears that high price levels may persist. Thus, markets are anticipating increases of 50 basis points at each of the next two Fed meetings in June and July. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM This could also be significant for the EUR/USD major pair, which approached the 1.0350 level this week, its lowest level since December 2016. The recent strengthening of the USD may also be related to the divergence in monetary policy on both sides of the Atlantic. The Fed is moving towards aggressive hikes, while the European Central Bank may raise interest rates by 50-75 basis points in total by the end of the year. Thus, the scale of divergences seems to be very large. Bitcoin rebounded yesterday from its lowest level in almost 17 months and crossed the $30,000 mark today In addition to gold and the dollar, attention should again turn to the cryptocurrency market and towards stock market indices, where in both cases an attempt to defend against possible further declines may be underway. Bitcoin rebounded yesterday from its lowest level in almost 17 months and crossed the $30,000 mark today. Despite this, the world's most popular and widely used cryptocurrency is at this point on its way to its worst week in four months, falling more than 10 percent. Yesterday, the market additionally saw a likely panic as the tether to USD exchange rate departed at 1:1. At the apogee of fears for the collapse of the largest stablecoin, the cryptocurrency market seemed to have reached its weekly lows. Currently, USDT is trying to get back to the 1:1 exchange rate, and the rest of the market seems to be stabilizing. Read next: (BTC) Bitcoin’s Price Tanks Along With Equities. U.S. Stock Market Awaits CPI Report, Poor Performance From The FTSE 100. Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Forex service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Fed Announced That A Further 50bps Rise In US Interest Rates Is On the Table - Dow Jones, Bitcoin & US Dollar Rally In Response

Fed Announced That A Further 50bps Rise In US Interest Rates Is On the Table - Dow Jones, Bitcoin & US Dollar Rally In Response

Rebecca Duthie Rebecca Duthie 13.05.2022 17:14
Summary: The market's reaction to the Fed's announcement for the potential for further interest rate hikes. DJI, Bitcoin and USD Dow Jones rallied on friday The Dow Jones rallied during early trading on Friday. The market seems to be attempting to recover from the poor performance of the past week. This price increase comes after the Federal Reserve Chairman announced that two more 50 bp rises in interest rates are on the table for the next two Fed meetings. The daily rise is unlikely to rule out that the Dow Jones will end the trading week on an overall loss. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM DJI Price Chart US Dollar reacts well to the Fed's announcement On Friday the US Dollar strengthened further against its major rival, the Euro. In the wake of the Feds continuing hawkish attitude, the US Dollar is continuing on its strengthening path. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM The week for the US Dollar has been volatile, earlier in the week market participants were hesitant to place their confidence in the greenback whilst they awaited the U.S CPI report. When the report exceeded market participants expectations along with the Fed’s recent announcement regarding the likelihood of further interest rate hikes the US Dollar recovered and saw further strength. Bitcoin showing signs of recovery The price of Bitcoin has also recovered today after setting its lowest level since December 2021 on Thursday. The price of Bitcoin recovers back up to over $30,000. Whether or not this rally will continue is in question, especially with the volatility the markets saw this past week. Read next: (BTC) Bitcoin’s Price Tanks Along With Equities. U.S. Stock Market Awaits CPI Report, Poor Performance From The FTSE 100. Bitcoin Price Chart Sources: investors.com, finance.yahoo.com
Crypto: How To Estimate A Risk And Take A Profit?

Binance Academy: Investing Strategy - Buying The Dips And Taking Profits Are Not The Only Options!

Binance Academy Binance Academy 13.05.2022 15:36
TL;DR With Dual Investment, there’s an opportunity to employ different strategies depending on your market view.  For less-experienced investors, you can easily take profits, buy dips, and earn interest on your crypto and stablecoin holdings.  For experienced investors, it’s possible to enter multiple Dual Investment positions and take advantage of a short-term volatile market. Introduction For users looking to diversify their investments, Binance Earn’s products are a good place to start. Dual Investment is one of the more advanced ways to earn and provides a way to buy or sell a cryptocurrency at your desired price at your desired date in the future. Regardless of your position, you’ll earn a high-interest income no matter which direction the market goes. So now we understand the basic concept, how exactly do we start earning? There are, in fact, many ways to use Dual Investment. Each one can complement your trading strategies and predictions for the market. Let’s get stuck in! Learn more on Binance.com 1. Taking profits Although it can be easy to get carried away, it’s always good to take some profits when you can. With this particular Dual Investment strategy, you can benefit from additional returns and realize some of your crypto gains in the future. 1. Select the Sell High Dual Investment product on Binance Earn. In this example, we’ll look at an Ether (ETH) product. The current ETH price is $2,900 (all prices given in BUSD). 2. We’ll set a Target Price of $3,500 and the Settlement Date for a week’s time.  3. We’ll then have the chance to sell the deposited ETH at the Target Price if it’s reached on the Settlement Date in a week. If ETH is 3,500 BUSD or above on the Settlement Date, it will be sold for BUSD. This removes the situation of forgetting to take your profits or not doing so due to greed! At the same time, you’ll also be earning APY. 4. If your Target Price isn’t reached on the Settlement Date, you’ll still earn APY on the deposited ETH and receive the ETH back.   2. Buying the dips Buying the dip is another common trading strategy that allows you to take advantage of a market downturn. By purchasing at a lower price, you anticipate a later market upturn when you can sell for a profit. With Dual Investment, it’s simple to plan for potential future dips while earning an additional interest income. 1. Select the Buy Low Dual Investment product on Binance Earn. In this example, we’ll look at a BTC product purchasable with Tether (USDT) . BTC’s current price is $39,000. 2. We’ll choose a Target Price of $36,500 for BTC with a Settlement Date in one week. 3. If the Market Price is $36,500 or lower on our Settlement Date, for example $36,000, BTC will be purchased at our Target Price. You’ll also get your earned interest too.  4. If your Target Price ($36,500) isn’t reached on the Settlement Date, you’ll still earn APY on the deposited USDT before receiving it back.   3. Growing your HODLed crypto When entering into Dual Investment, you don’t always have to be betting on market movements. In fact, you can make good use of the product even when the price remains relatively stable or doesn’t reach your Target Price. Here, we’re just looking to make returns on crypto through interest. 1. Select the Sell High Dual Investment product on Binance Earn. In this example, we’ll look at a BTC product. BTC’s current price is $39,000. 2. We’ll choose a Target Price of $40,000 for BTC with a Settlement Date in one week. 2. To simply earn APY, we hope that Bitcoin’s price remains stable or decreases and doesn’t meet the Target Price. 3. At the Settlement Date, BTC’s price is $38,000. This means you keep your deposited BTC and receive all earned interest. This provides an easy way to earn high interest on your crypto holdings.   4. Growing your stablecoin stash Many of us keep stablecoins as a way to keep captured profits in the blockchain ecosystem. But that doesn’t mean that we can’t make them start earning too. This strategy is similar to the previous one, in that we hope the Target Price isn’t reached. 1. Subscribe to a Buy Low Dual Investment product on Bina nce Earn. In this example, we’ll look at a MATIC product purchasable with USDT. MATIC’s current price is $1.20. 2. We’ll choose a Target Price of $1.10 for MATIC with a Settlement Date in one week. 2. To earn stablecoin APY, we hope that MATIC’s price remains stable or increases and doesn’t meet the Target Price. 3. At the Settlement Date, MATIC’s price is $1.22. This means you keep your deposited USDT and receive all earned stablecoin interest. This provides a simple way to earn high interest on your stablecoin holdings.   5. Compound earning in a short-term volatile market Our previous four strategies have provided simple ways to earn interest and buy or sell at preset prices according to your strategy. However, there’s also the opportunity for more advanced plays with Dual Investment. As always, investing has an inherent risk. This strategy should only be used by experienced investors who feel comfortable in volatile markets. With this application, we expect market volatility but have no clear view of whether the market is bullish or bearish. To take advantage of this situation, we need to use a combination of Buy Low and Sell High products. Let’s look at an example. 1. Select the Sell High Dual Investment product on Binance Earn. In this case, we’ll look at a BNB product. BNB’s current price is $395. 2. We’ll choose a Target Price of $420 for BNB with a Settlement Date in one week. 3. The market is volatile, meaning two things may happen.  If the Target Price isn’t met, you’ll keep your BNB and earned interest. You can create a new Sell High order, allowing you to earn more interest or sell for a higher price.  If the Target Price is met, you’ll sell your BNB at $420 per unit and gain interest. You can now place a Buy Low order, giving you the chance to purchase crypto at a lower price.  4. Every time your Target Price is met, go for Dual Investment products in the other direction. If the Target Price is not met, continue on with the same direction until the Target Price is met.  4. Playing the market in this way lets you keep on buying lower and selling higher, all while compounding your returns.   6. Double-sided positions Our final strategy has similarities with the previous one, but in this case we open two positions simultaneously. To do this, you’ll need to hold two types of tokens: one in crypto (like BNB) and one in stablecoin (like USDT). Let’s see how it works if the price of BNB is currently $390.  1. Use BNB to subscribe to a Sell High BNB Dual Investment product with a Target Price of $420 and a Settlement Date in one week. 2. Use USDT to subscribe to a Buy Low BNB Dual Investment product. Set your Target Price to $360 with a Settlement Date in one week. 3. The market is volatile leading to three possible outcome:  The Target Price of both positions isn’t met as the price stays between $360 and $420. In this case, you’ll keep your original BNB and USDT deposits, as well as earned interest in both currencies.  The price of BNB reaches $420 or above, meaning the Sell High position’s Target Price is reached. Your BNB and accumulated interest will be sold for $420 per unit, and you’ll also keep your Buy Low USDT deposit plus earned interest. In conclusion, you get to take profit from selling BNB and also accumulate interest in USDT. The price of BNB reaches $360 or above, meaning the Buy Low position’s Target Price is reached. You’ll purchase BNB at your desired price and receive your interest, and you’ll also keep your Sell High BNB deposit plus earned interest. In conclusion, you get to buy BNB at a lower price while also accumulating interest in BNB. Closing thoughts There’s a lot more to Dual Investment than just earning interest and buying or selling. You can use the product as a way of planning your trading strategies with the added bonus of APY. So, if you’re looking for a way to diversify your investments, Dual Investment is a great product to explore. Disclaimer: Dual Investment is not a principal-guaranteed product. Subscribed assets are locked and users are not able to cancel or redeem before the Settlement Date. If the market price goes far below your Target Price to buy on the Settlement Date, you will be buying at a relatively higher price than the market price, and vice-versa. Binance does not assume liability for any losses incurred from price fluctuations. Please read through the product terms carefully before subscribing.
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Kiyosaki Is Expected To Buy BTC At $17K, Miller Sells. Bitcoin Has Lost 9.4% Over The Previous Week, Ether (ETH/USD) Gone Down By Over 16%, (SOL) Solana Price Lost Ca. 25% | FxPro

Alex Kuptsikevich Alex Kuptsikevich 16.05.2022 08:25
Bitcoin is down 9.4% over the past week, ending at around $31,000. Ethereum lost 16.1%, while other leading altcoins in the top 10 fell from 13.9% (Binance Coin) to 25.4% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, sank 15% over the week to $1.30 trillion. Bitcoin has declined for six weeks in a row, along with stock indices The bitcoin dominance index jumped 2.9 points to 44.4% over the same period due to a sharp weakening of altcoins. The cryptocurrency fear and greed index fell 8 points in the week to 10 and continues to be in "extreme fear". By Monday, the index had climbed to 14 points, thanks to the cryptocurrency market's retreat from local lows at the end of last week. Bitcoin has declined for six weeks in a row, along with stock indices. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM A prolonged one-way move in Bitcoin was last seen in late 2018 when the first cryptocurrency hit a cyclical bottom. That was followed by many more months of sluggish momentum, so investors have an essential question: choose a low point to buy or join the move when it is certain. Prudence suggests that it is less risky to follow the second strategy. The story of the Terra (LUNA) crash and the TerraUSD stablecoin project added to the negativity on the crypto market, hitting all altcoins hard Last week's decline intensified after breaking through last year's lows near $30,000, becoming the most significant weekly drop since January. The story of the Terra (LUNA) crash and the TerraUSD stablecoin project added to the negativity on the crypto market, hitting all altcoins hard. According to Global Macro Investor CEO Raul Pal, May and June will be the most worrying months, so a new wave of sell-offs in the crypto market is inevitable. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Robert Kiyosaki, the world-famous author of the bestselling book Rich Daddy, Poor Daddy, is looking to buy bitcoin once it tests the 'bottom' at $17,000 Legendary investor Bill Miller said he sold some of his BTC holdings. Although bitcoin may continue to decline in the short term and even drop by half from current levels, Miller looks at bitcoin positively and expects it to grow over a long time. Robert Kiyosaki, the world-famous author of the bestselling book Rich Daddy, Poor Daddy, is looking to buy bitcoin once it tests the 'bottom' at $17,000. The businessman has once again expressed distrust of the US government.
Bitcoin Maintains A Steady Bullish Potential

Crypto Market Crash AD 2022. Bitcoin (BTC) – Make Or Break! | Richard Nasr

Richard Nasr Richard Nasr 16.05.2022 12:43
BTC is sitting around a strong support zone 30k and lower trendline in green so we will be "looking" for buy setups on lower timeframes. For the bulls to take over, for the correction to start, we need a break above the red trendline. Meanwhile, we are a bearish and if we break below 30k, a movement till the next rejection would be expected (demand zone 20k) Which scenario do you think is more likely to happen? and Why? Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Always follow your trading plan regarding entry, risk management, and trade management. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM Good luck! All Strategies Are Good; If Managed Properly! ~Rich  
Bitcoin Price (BTC/USD) Lost $13K Reaching $42K Less Than In November 2021. Ether (ETH) Lost 52% Among April And May's Beginning. Is this not the end of the cryptocurrency bear market? | Geco.one

Bitcoin Price (BTC/USD) Lost $13K Reaching $42K Less Than In November 2021. Ether (ETH) Lost 52% Among April And May's Beginning. Is this not the end of the cryptocurrency bear market? | Geco.one

Geco One Geco One 16.05.2022 15:12
Between 5 and 12 May 2022, Bitcoin fell by over $13,000, i.e. over 33%. It increased Bitcoin depreciation which started on 28 March, to over $21,000, i.e. 44%. In turn, counting from the peaks of November 2021, BTC decreased by over $42,000, i.e. 61%. Such a significant sale caused the exchange of the oldest virtual currency to drop from $69,000 to below $27,000, which was the lowest level since December 2020. It is noteworthy that this trend did not stop around the critical level of support of $29,000, where various types of demand reactions have occurred many times in the past. However, considering that the demand reaction that appeared last weekend was much more modest than the previous ones around this support, it seems highly probable that it will be only a temporary correction, after which the BTC rate will return to losing value. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM If this sell-off leads to a sustained drop below $24,000, we will have to prepare for a further depreciation towards $24,000 or even below $20,000. The current situation on the Ethereum quotes is also identical. The price of this cryptocurrency fell between 3 April and 12 May this year by 52%, dropping to the Tech Support area of $1,750, the lowest level since July 2021. The demand reaction that appeared last weekend was much more modest than the rebound observed in this region in May, June and July 2021. We assume that it will be only a correction, after which ETH will return to around $1,750. A permanent drop below this price level could open the door for further declines to $1,400 — around this price is another significant support around which we could expect a greater demand response. Solana (SOL) Loses Ca. 77% Looking at the Solana quotes, we notice that the price of this cryptocurrency fell between 2 April and 12 May this year by almost 77%, dropping to the area of technical support of $37, which was the lowest level since August 2021. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM In the second half of last week, the demand reaction appeared. Although it could signal a potential rebound towards the previously defeated support (now resistance) of $78, taking into account the general pessimism currently observed in the broad cryptocurrency market, it seems that the increases can end much earlier. The SOL rate could return to around $37 or even fall below this support if this happens. It would indicate a potential for further depreciation towards $23. The current situation on the Cardano quotes is also very interesting. The price fell between 4 April and 12 May this year by 69%, dropping to the area of technical support of $0.40, which was the lowest level since the beginning of February 2021. It is where the demand response appeared, and if the several-day increases continued, the ADA rate could even return to the area of previously defeated support (now resistance) of $0.75. However, there are many indications that this rebound will ultimately turn out to be only a correction, after which Cardano’s quotations will return to the area of $0.40, or they will drop even lower. Start your trading adventure with Geco.one
LFG Has Not Created Any New Wallets| Do Kwon On The Interpol Wanted List

Can Terra’s LUNA recover and reach $120 again?

FXStreet News FXStreet News 16.05.2022 16:09
LUNA price plummets nearly 38% despite a 200% increase in trade volume. Do Kwon, CEO of Terraform Labs, has written a proposal to fork LUNA to a new chain with a cap of 1 billion coins. Binance CEO CZ believes Do Kwon’s plan to save LUNA will not work as forking does not add value to the new fork. Do Kwon’s proposal to fork Terra’s LUNA to a new chain has received criticism from Binance CEO and cryptocurrency proponents. The Luna Foundation Guard has spent $3 billion stabilizing TerraUSD’s peg, however, UST has failed to recover. Terra’s LUNA struggles to recover despite forking plan The Luna Foundation Guard has spent billions of dollars reinstating TerraUSD’s (UST) peg. However, UST price is struggling to make a comeback. At the time of writing, UST is priced at $0.082, 91.8% lower than its $1 peg. Do Kwon, the CEO of Terraform Labs, came up with a recovery plan for Terra’s tokens. The Luna Foundation Guard Council proposed forking LUNA to a new chain, using a snapshot from before the attack on the blockchain. The recovery plan proposes a cap of 1 billion coins, where 900 million tokens of the new chain are set aside to be returned to LUNA and UST holders from before the de-pegging event and chain hold, and the last 100 million tranche is to be staked at the network genesis state. Proponents criticize Do Kwon’s plan for LUNA recovery Changpeng Zhao, CEO of the world’s largest cryptocurrency exchange, Binance, critiqued Do Kwon’s recovery plans and revealed that he does not believe that LUNA can recover and make a comeback to $120. Zhao stated that, This won’t work. – forking does not give the new fork any value. That’s wishful thinking. – one cannot void all transactions after an old snapshot, both on-chain and off-chain (exchanges). On behalf of Binance, CZ asked the Terra team to compensate retail users first and supported the prioritization of the smallest wallets with UST deposits on Anchor. Binance has nearly $1.6 billion tied up in LUNA’s collapse. Kwon has requested community members for patience as Terraform Labs works on multiple tasks to stabilize UST, repeg it and drive a recovery in LUNA. Still, the CEO of CryptoQuant revealed that market maker(s), including the ones hired by LFG, sent 84,000 BTC, equivalent to $2.5 billion, to multiple exchanges last week. It is unclear whether the BTC tokens were sold, but it is likely that Coinbase digested a majority of the selling pressure and efforts to recover algorithmic stablecoin UST failed. Larry Cermak, VP of research at IntoTheBlock, pointed out that LFG has gone from $3.1 billion in its reserves a week ago to $87 million now as the non-profit organization spent nearly $3 billion on defending UST’s peg. Despite the efforts, the stablecoin collapsed. VisionPulseTrades evaluated LUNA price trend and revealed that if the bottom is in, LUNA needs to gain confidence among investors to begin a trend reversal. If so, the next bullish target for is capped between $0.00025 and $0.00033. A recovery to $120 is therefore unlikely for LUNA, as VisionPulseTrades emphasizes the demand for the token comes from investors expecting a recovery and a purchase of Terra by the LFG. Terra LUNA's collapse dragged the whole crypto market After Terra LUNA's implosion, most crypto assets suffered heavy losses. What's next for Bitcoin?
Weekly Crypto Analysis: LUNA Triggers Crypto’s Bloodbath, Top 7 Things to Know | KuCoin

Weekly Crypto Analysis: LUNA Triggers Crypto’s Bloodbath, Top 7 Things to Know | KuCoin

Kucoin Blog Kucoin Blog 16.05.2022 23:30
Table of Contents · Crypto Market Overview · Top Altcoin Gainers and Losers · News Highlights This Week · Bitcoin (BTC/USDT) Analysis on KuCoin Chart On Monday, cryptocurrency prices remained bearish amidst a dramatic drop in LUNA and UST. The global cryptocurrency market cap was $1.30 trillion, up from $1.14 trillion. Total crypto market volume fell from $80.16 billion to $79 billion.   Nigeria's Securities and Exchange Commission has issued new rules to guide the issuance, custody, and exchange of digital assets and classify them as securities, which is a positive development in the crypto space. Nonetheless, the Terra ecosystem collapse remained one of the top stories in the previous week.   Let's delve deeper and take a quick look at the latest crypto market news and Bitcoin's technical outlook.   Crypto Market Overview Bitcoin dominance has soared to 44.4% up from 40.60% last week. The leading cryptocurrency by the market was trading at $30,426 while Ethereum, the second-largest cryptocurrency by market capitalization, has plunged by 15.88% in the past seven days. On Monday, it was trading at $2,076.89, a 3.27% surge in 24 hours.   Maker (MKR), Pax Dollar (USDP), and Binance USD (BUSD) remained the top performers from the previous week. Maker increased by more than 29% to trade at $1,517.75, while Pax Dollar increased by 0.50% in the last seven days, maintaining a $1 peg.   Cryptocurrency Market Heatmap | Source: Coin360   While TerraUSD (UST) experienced a massive plunge, losing 82.15% to $0.1779 and Waves (WAVES) lost 48% in the last seven days. The crypto market's trading sentiment has shifted negatively due to risk-off sentiment, and digital assets are struggling to rise.   Top Altcoin Gainers and Losers Top Altcoin Gainers: ➢ Maker (MKR) ➠ 29.66%➢ Pax Dollar (USDP) ➠ 0.50% ➢ Binance USD (BUSD) ➠ 0.13%   Top Altcoin Losers: ➢ TerraUSD (UST) ➠ 82.15% ➢ Waves (WAVES) ➠ 48.05% ➢ Lido DAO (LDO) ➠ 46.54%   News Highlights Here are some of the events that made the previous week's crypto news section stand out:   Crypto’s Bloodbath: Terra (LUNA) Nears $0 If you haven't heard, TerraUSD (UST), a cryptocurrency that is supposed to remain stable at $1 (also known as a stablecoin), is no longer $1. It's usually a bad sign when a crypto token is supposed to be $1 but isn't. Furthermore, the LUNA crypto token, which underpins UST, has lost nearly all of its value. These losses have been widely reported, so this is likely the umpteenth piece about UST you've seen.   Sister asset TerraUSD, a so-called stablecoin designed to trade at around $1, broke its peg last weekend, falling to 16 cents, algorithms are supposed to help keep TerraUSD at $1, but the token uses luna as a stabilizing mechanism when the price deviates.   During the previous week, Terra (LUNA) prices fell to near $0.01. The LUNA token is currently trading at $0.0002426, down from $80 just a week ago. The platform behind the beleaguered luna cryptocurrency said that it had temporarily halted its blockchain to stop transactions after the token's price dropped nearly 100 percent overnight, making the network more vulnerable to an attack.   There are several stablecoins available, including tether (USDT), USD coin (USDC), Binance USD (BUSD), and Dai (DAI). Notably, we also had TerraUSD (UST). These are the five most valuable stablecoins, worth approximately $160 billion. These stablecoins are collateralized stablecoins issued by centralized entities (USDT, USDC, and BUSD). These entities own a treasury of dollars that back each coin, allowing the holder to redeem each coin for $1 from the issuer. However, it would be fair to say that such an incident has shaken investor sentiment.   Nigeria's Markets Regulator Publishes Rules on Crypto Assets Nigeria's Securities and Exchange Commission has made new rules about how digital assets can be issued, stored, and traded. The central bank of Nigeria prohibited banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies last year.   However, the country's young, tech-savvy population has embraced cryptocurrencies, for example, using peer-to-peer trading provided by cryptocurrency exchanges to circumvent the financial sector ban.   On its website, Nigeria's Securities and Exchange Commission (SEC) published the "New Rules on Issuance, Offering Platforms, and Custody of Digital Assets." These rules classify digital assets as securities, which is a good thing for the crypto space. Such government action points to cryptocurrency acceptance and, as a result, helps to support cryptocurrency prices.   Dogecoin Has Potential as a Currency, Elon Musk Says All that the crypto market requires now is support from crypto influencers such as Elon Musk. So, despite massive sell-offs in the cryptocurrency market, Tesla CEO Elon Musk has issued another bullish statement about the meme cryptocurrency dogecoin (DOGE).   Musk stated that dogecoin "has currency potential." His tweet responded to a comment by dogecoin co-creator Billy Markus, who noted that the meme cryptocurrency appeals to him because "it knows it is stupid."   Elon Musk, the CEO of Tesla, reaffirms that Dogecoin "Has Potential as a Currency" as the Twitter deal is put on hold. The Tesla CEO's tweet reiterated his previous claim that DOGE is the best cryptocurrency for transactions.   On the other hand, he believes Bitcoin is better suited as a store of value. Musk, also known as the Dogefather in the crypto community, stated that dogecoin is "the people's crypto." Elon Musk, a long-time supporter of DOGE, tweeted in April 2019: "Dogecoin may be my favorite cryptocurrency." It's cool." In addition to bitcoin and ether, Musk revealed that he owns dogecoin.   Despite Musk's upbeat tweet, the cryptocurrency market is still struggling to recover, but he has provided some encouragement.   Germany Declares Crypto Gains Tax-Free After 1 Year While Indian investors are disappointed by crypto taxes, the German Ministry of Finance has issued an official letter confirming that the sale of crypto assets after one year is tax-free, even if the coins are used for staking and lending. According to the finance ministry, one of the most heatedly debated issues at a hearing last year was whether the tax-free holding period for crypto lending and staking should be a minimum of ten years.   According to the ministry, in collaboration with the federated states: “The letter now states that the so-called 10-year period does not apply to virtual currencies.” This could be another factor to drive demand in the cryptocurrency market.   Crypto Calendar: Events to Watch This Week The cryptocurrency calendar features two cryptocurrency-related events, one from Basic Attention Token (BAT) and one from EOS. The EOS Hard Fork is scheduled for May 19. The cryptocurrency mainnet adheres to a set of rules.   Changes are made on a regular basis to improve network performance or to correct errors. A hard fork is incompatible with previous versions of programs that support the cryptocurrency network, and miners must update their software to continue mining cryptocurrency.   In some cases, a completely new cryptocurrency may emerge due to a hard fork, as happened with Bitcoin Cash.   Fear & Greed Index Signals Extreme Fear, Cryptos on a Downtrend As investors seek to invest in risk-free securities rather than risky assets such as stocks and cryptocurrencies, the market's trading sentiment has shifted to bearish or risk-off. As discussed in last week's weekly report, companies using debt financing must pay higher interest rates as interest rates rise, reducing their profitability. As a result, investors seeking dividends or capital gains typically sell securities or stocks on the stock exchange.   Traders shift their funds to less risky assets such as government bonds and treasury bills. As a result, the global stock markets and cryptocurrency prices positively correlate, as we recently discovered. As a result, a decline in the stock market causes a decrease in cryptocurrencies.   Fear & Greed Index | Source: Alternative   The market's risk-off sentiment has triggered extreme risk in the market. As a result, the fear and greed index shows extreme fear, indicating that cryptocurrency traders' bearish bias is weakening. Extreme fear can mean overly concerned investors and oversold cryptocurrency markets. Typically, this is when investors look for a buy entry as the coins are already cheaper. So, look for buying opportunities as the bulls are expected to enter soon.   Bitcoin (BTC/USDT) Analysis on KuCoin Chart Bitcoin is currently trading at $29,600, with a trading range of $33,150 to $28,040. Overall, the strong bearish bias in the leading cryptocurrency appears to have abated, with the BTC/USD forming neutral candles.   On the daily timeframe, the BTC/USDT has formed a Doji candle and gained support at the 28,000 level. A Doji candle followed by a strong bearish price action typically indicates a weakness in selling pressure and a potential bullish reversal.   The RSI and MACD are holding under 50 and 0, respectively, indicating a selling trend. The RSI, on the other hand, has bounced off after testing 20 levels, indicating a possible reversal. As a result, an increase in Bitcoin demand and a breakthrough $33,1050 resistance exposes the BTC price to $37,500 resistance.   BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   The downward trendline and EMA series are adding to the selling pressure on BTC/USD. On the downside, the leading cryptocurrency, Bitcoin’s immediate support stays at the $28,000 level. A decline in demand and a bearish break below $28,000 expose Bitcoin to a $24,350 support level.   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.     Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange Download KuCoin App >>> https://www.kucoin.com/download Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: KuCoin
Forget about the crypto winter; Bitcoin price readies to kick start the summer rally | FXStreet

Forget about the crypto winter; Bitcoin price readies to kick start the summer rally | FXStreet

FXStreet News FXStreet News 17.05.2022 16:35
Bitcoin price sees bulls popping back above $30,000 as it reclaims an important psychological area. BTC price is set to break above the high of last week and could rally to $36,709.19 by the end of this week. Expect to see a continuing rally with all stars aligned towards $44,088.73. Bitcoin (BTC) price sees bulls returning to the scene to pick up the pieces from the scattered BTC price that saw slaughter in the past trading days. BTC price quoting at a lucrative discount has made the asset attractive for cherry-picking traders and investors. With the Relative Strength Index (RSI) showing that Bitcoin still has a heartbeat, expect to see a full recovery towards $45,261, claiming back some critical levels in the process. BTC price set for complete recovery as heartbeat strengthens on the RSI Bitcoin price is showing signs of recovery after it took a beating for over two whole trading weeks. The most significant catalyst in that case was the dollar and its impact on BTC price. With the balance outweighing, in favour of the mighty dollar, BTC price is currently trading at a very nice discount. Should Bitcoin price drop below $30,000 somewhere this week, expect it to be scooped up quite rapidly and to quickly trade higher as the RSI is leaving the oversold area, proving that demand is there. BTC price thus sees investors and traders returning after a short hiatus as the dust settles over a few risk events, and some tail risks have gotten deflated. Hand in hand with that, the dollar is backing off, allowing some room for Bitcoin price to trade higher, with $36,709.19 acting as a line in the sand for this week. In case we see a weekly close above there, expect to see a rally next week towards $45,261.84, on the way up to the 200-day Simple Moving Average. BTC/USD daily chart Investors could be hesitant to pick up BTC prices after the image of cryptocurrencies got dented last week with Terra’s LUNA crash. Lack of interest could trigger a rejection at the first big hurdle at $31,321.98. Bears will probably use that level as entry to push price action back down and break below $30,000.00 again. As the price trades sideways, the risk is that interest fades and BTC price slips below $28,695 to test $24,000 to the downside.
Crypto Market Crash: Can (BTC/USD) Bitcoin Price Reach Less Than $10K!? Dogecoin (DOGE) Hasn't Fluctuated Much! ETH Has Decreased By 1.2% | FxPro

Crypto Market Crash: Can (BTC/USD) Bitcoin Price Reach Less Than $10K!? Dogecoin (DOGE) Hasn't Fluctuated Much! ETH Has Decreased By 1.2% | FxPro

Alex Kuptsikevich Alex Kuptsikevich 18.05.2022 08:37
Bitcoin has been hovering around the 30K mark for a second day, forcing the rest of the crypto market to balance declines and gains. Ethereum has lost 1.2% in 24 hours but remains near 2,000. Altcoins from the top ten are mostly declining, losing between 0.7% (DogeCoin) and 3.8% (Polkadot). Tron is gaining 1.7% but has been little changed since the end of last week. Total crypto market capitalisation, according to CoinMarketCap, declined 1.1% overnight to $1.29 trillion. Bitcoin’s dominance index remained unchanged at 44.3%. Bitcoin has stalled at the psychologically significant 30K level The Cryptocurrency Fear and Greed Index was up 4 points to 12 by Wednesday and remains in “extreme fear”. The index’s recovery from lows since 2019 is due to a waning selloff but not a market reversal to growth. Bitcoin has stalled at the psychologically significant 30K level and has also lost the momentum of the rebound at the 76.4% Fibonacci line from the downward move from late March to last Thursday’s lows. This is a typical shallow counter-trend correction. The inability of the market to develop the offensive from the current levels would raise the question that the final target for the downtrend would be the 161.8% area of that move, which is near $11.3K. Such a setback would cancel out all upside momentum from October 2020. So far, this scenario looks exceptionally pessimistic and needs to converge the disappointment of crypto-neophytes on top of an actual collapse of the global economy and stock market. Such a dip would leave Bitcoin’s price at only 16% of its peak, which has happened several times in its history. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM However, a significant drop below previous cyclical highs ($20K) would be unusual, although Bitcoin was previously repurchased on similar drawdowns. Perhaps a more cautious scenario would be a dip into the $20-23K area to close the gap at the end of 2020 or a return to the 2017 highs. The realist-optimistic scenario points to the possibility of cautious buying by long-term investors from current levels. Following TerraUSD, another stable coin - DEI - lost its peg to the US dollar However, it does not suggest a new wave of explosive growth, as financial conditions and a return to the area at the start of 2021 are disappointing for those investors who have been buying cryptocurrencies as a way to make a quick buck. Moreover, inflation has weaned 10% off the dollar’s purchasing power over this period. Among the news that caught our eye were: According to CoinShares, institutional investors invested $274 million in crypto funds last week, a record since the start of the year. Following TerraUSD, another stable coin - DEI - lost its peg to the US dollar. According to the Congressional Research Service (CRS), the stable coin market needs strict regulation. Because of the speculative nature of cryptocurrencies, investors need more protection, or they could lose confidence in the markets, SEC chief Gary Gensler said. Read next: (TRX) TRON USD Decentralised Blockchain Platform That Focuses On Entertainment And Content Sharing. Altcoins: A Deep Look Into The TRON Network | FXMAG.COM The Portuguese authorities are considering introducing a tax on income earned from investments in digital assets. Dogecoin co-founder Billy Marcus called 95% of crypto-assets “trash” and suggested that 70% of investors don’t even understand the fundamentals of the crypto market.
Bitcoin (BTC) is now better than the stock market but still in decline. Ether (ETH) Has Decreased By Over 4%, So Does Cardano (ADA) | FxPro

Bitcoin (BTC) is now better than the stock market but still in decline. Ether (ETH) Has Decreased By Over 4%, So Does Cardano (ADA) | FxPro

Alex Kuptsikevich Alex Kuptsikevich 19.05.2022 15:26
On Wednesday, Bitcoin was down 3%, ending the day around $29,200, remaining near that mark on Thursday morning. Ethereum lost 4.3%. Other altcoins in the top 10 fell from 1.8% (BNB) to 9.8% (Cardano). The Cryptocurrency Fear and Greed Index was up 1 point to 13 by Thursday and remains in ‘extreme fear’ territory The total capitalisation of the crypto market, according to CoinMarketCap, fell 3.6% overnight to $1.24 trillion. The Bitcoin Dominance Index rose 0.4% to 44.7%. The Cryptocurrency Fear and Greed Index was up 1 point to 13 by Thursday and remains in ‘extreme fear’ territory. Bitcoin resumed its decline on Wednesday amid a sharp weakening of US stock indices, which fell even more than BTC. The Nasdaq and S&P 500 lost more than 4% on Wednesday. The impressive oversold strength accumulated by the crypto market after it collapsed 40% from late March levels (versus 16% for the S&P500) temporarily limits the declining scale. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM Nevertheless, the overall negative market sentiment has prevented the bulls from turning out in full force. So far, it isn’t easy to see reliable signs of oversold or rebound formation. We should be prepared for the cryptocurrency market to test support at last week’s lows again in the near term. We consider the area near 20K the final target for a potential selloff, which corresponds to Bitcoin’s long-term support line. Billionaire Bill Ackman said one of the main reasons for Terra’s collapse was a pyramid scheme of business Among the news that caught our eye were: Former US Federal Reserve chief Ben Bernanke called Bitcoin a harmful currency. He lashed out at cryptocurrencies, calling them “a great tool for extortionists”. Binance lost $1.6 billion due to the collapse of Terra tokens on the exchange’s balance sheet. Billionaire Bill Ackman said one of the main reasons for Terra’s collapse was a pyramid scheme of business. Investors were promised a 20% yield backed by a token whose value was determined by demand from new investors. Microsoft has warned crypto investors of an increase in the activity of a new type of malware called Cryware South Korea’s Financial Services Commission, amid tensions in the Stablecoin market, is proposing to register cryptocurrencies based on their level of risk to investors. Microsoft has warned crypto investors of an increase in the activity of a new type of malware called Cryware, which allows the theft of assets from hot cryptocurrency wallets. Birgit Rodolph, executive director of the German BaFin, called for universal regulation of the DeFi industry across the EU. Follow FXMAG.COM on Google News
Crypto News: Bitcoin Price (BTC/USD) is range-bound. Will we see a break today? | 8cap

Crypto News: Bitcoin Price (BTC/USD) is range-bound. Will we see a break today? | 8cap

8 eightcap 8 eightcap 20.05.2022 04:05
Hi traders, today we’re seeing a similar pattern across several coins. After yesterday’s failed lower break attempt, ranges have developed. We’re seeing this pattern on a few, BTC, BNB, ETH, SOL, ADA, and XRP. We’ve zeroed in on Bitcoin as on the 4-hour chart. The range is quite symmetrical. We saw 29K come in yesterday as a demand point, and for now, price continues to hold above. The range can be broken down into inside action and overall action. On the side, we are looking at two possible directions. One, we see price maintain the pattern and move back to the bottom of the range. Two buyers regain momentum as we see a test or break of the range roof. If number two occurs, that will line up with the overall action idea of a new breakout due to steady demand seen yesterday rejecting seller attempts to break lower. We can also see a trend break on the four-hour chart and a fast trend break on the daily. If sellers can not only move back to the range base but break through it, we would look at the 27,600 area to possible offer buyer resistance If buyers clear the range, we could see resistance develop from 32,200. On the other side, if sellers can not only move back to the range base but break through it, we would look at the 27,600 area to possible offer buyer resistance. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM It will be interesting to see which side wins this battle. Hoping all of our readers have a wonderful weekend. Bitcoin 4H Chart The post Crypto News: Bitcoin is range-bound. Will we see a break today? appeared first on Eightcap.
China: Slowdown in Non-Manufacturing Activity Raises GDP Downgrade Concerns

US Close – Stocks Near Bear Market, Crude Oil Price Higher On Supply Concerns, Gold Price (XAUUSD) Pops, Bitcoin (BTC/USD) Stabilizes | Oanda

Ed Moya Ed Moya 19.05.2022 23:51
US stocks edged lower as Wall Street became more focused over a deteriorating growth outlook that could see stubbornly high pricing pressures for the Fed into a much more aggressive tightening cycle. It doesn’t seem like we will see a deceleration in pricing pressures and that has many traders worried that the Fed will send the economy into a recession.  Right now markets are functioning properly but if we see another 5% decline with stocks, credit conditions will worsen and that could provide the Fed an excuse to stop tightening so aggressively.  Tighter financial conditions will hurt the parts of the economy that are doing well and further selling of stocks could remain the theme if the S&P 500 enters a bear market.  The S&P 500 is looking vulnerable here as more strategists slash their forecasts as recession risks rise.  Fed (Federal Reserve) Fed’s George affirmed the board’s stance that a half-point rate increase pace is appropriate.  The Fed remains focused with fighting inflation and they will remain aggressive with tightening policy until liquidity becomes a concern.  FX (Forex) The dollar is in freefall as investors buy up Treasuries over concerns that the economy is headed for a rough patch. The dollar was ripe for a pullback and today’s across the board weakness might continue a while longer. Read next: Altcoins: What Is PancakeSwap (CAKE)? A Deeper Look Into The PancakeSwap Platform| FXMAG.COM US Data A wrath of US economic data painted a gloomy picture of the economy: Jobless claims rose, the housing market is clearly cooling, another Fed regional survey showed the weakest print since early in the pandemic and the leading index turned negative.  Weekly jobless claims rose from 197,000 to 218,000. The Philly Fed manufacturing outlook fell sharply from 17.6 to 2.6.  Surging mortgage rates and record home prices led to a drop in April existing home sales  Crude Oil Price Crude prices rallied as the EU nears a key deadline to pay for Russian oil with a roubles account.  The oil market just has too many risks to supplies and still a strong short-term travel outlook both in the EU and US.  WTI crude should be well supported at the $100 level as US production is slowly increasing. Recession fears are rising but that impact won’t be felt for quite a while, which means the oil market won’t see imminent crude demand destruction. Crude inventories are too low for oil traders to turn bearish with WTI crude. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM Gold Price Gold is acting like a safe-haven again as recession fears are triggering massive demand for Treasuries, which is sending both yields and the dollar lower. The US labor market is showing signs of weakness and that could lead fears that consumer spending will deteriorate much faster than most are expecting. The dollar is getting sold against everything and that is great news for gold. Right now, investors are looking for safety and Treasuries and gold should both outperform in the short-term.   Bitcoin (BTC) Bitcoin is hovering around the $30,000 level as investors continue to shy away from stocks.  A weaker dollar and bear market stock fears are making Bitcoin attractive again.  It seems the fallout from all the stablecoin drama that sent cryptos sharply lower is finally fading.  Bitcoin looks poised to consolidate here, but bulls should be happy to see prices are not mimicking what happens with the stock market.   Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Follow FXMAG.COM on Google News
Changing correlation of Bitcoin and US stocks. Brazil: Lower house of Congress approved crypto regulation bill

Bitcoin Price (BTC/USD) Entrenched At $30K, Ether (ETH), Solana (SOL), Ripple (XRP) Have Gained! | FxPro

Alex Kuptsikevich Alex Kuptsikevich 20.05.2022 11:17
Bitcoin fluctuates around $30K and has crossed that line daily in one way or another over the past 12 days. A 3.5% increase in the day’s results on Thursday turned into another pullback on Friday morning. Ethereum has strengthened by 3.5% in the past 24 hours, finding itself pegged at $2000. By Friday, the cryptocurrency fear and greed index is unchanged at 13 points (“extreme fear”) Other altcoins in the top 10 gained between 0.4% (Solana) and 5.5% (XRP). Total cryptocurrency market capitalisation, according to CoinGecko, rose 3.1% overnight to $1.28 trillion. The Bitcoin Dominance Index rose 0.1% to 44.8%. By Friday, the cryptocurrency fear and greed index is unchanged at 13 points (“extreme fear”). Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM MicroStrategy CEO Michael Saylor said his company would buy bitcoin at any price until it reached a million dollars Bitcoin and the entire cryptocurrency market’s protracted tug-of-war promises to resolve with a strong move in one direction. However, there is hope for both bulls and bears. The latter has a minor advantage, as we saw this area touch down from above in January and June-July 2021. But now, all the fighting is concentrated below. Among the crypto news that caught our eye: MicroStrategy CEO Michael Saylor said his company would buy bitcoin at any price until it reached a million dollars. Bitcoin’s drop below $30,000 last week came after a large volume of the cryptocurrency entered exchanges. According to IntoTheBlock, traders have sent around 40,000 BTC to exchanges since May 11. According to an audit report by accounting firm MHA Cayman, USDT stable coin issuer Tether Holdings Limited reduced its reserves in the commercial papers by 17%, improving the quality of its funds. Read next: Altcoins: What Is PancakeSwap (CAKE)? A Deeper Look Into The PancakeSwap Platform| FXMAG.COM The Ethereum development team said it would migrate the Ropsten test network to the Proof-of-Stake (PoS) consensus algorithm on June 8 2022. According to the legislation, SEC chief Gary Gensler has warned that the regulator is ready to take new measures against unregistered cryptocurrency companies. The US Commodity Futures Trading Commission (CFTC) believes that amid a rise in cryptocurrency crime, the watchdog must strengthen regulation of digital assets to crack down on fraud and manipulation. Follow FXMAG.COM on Google News
Bitcoin Is Showing The Potential For The Further Downside Rotation

"Cryptocurrencies have no value and are not based on anything." - said Christine Lagarde (ECB). Bitcoin Has Decreased By 3.6%, ETH Gone Down By 5.8%, XRP And ADA Declined As Well | FxPro

Alex Kuptsikevich Alex Kuptsikevich 23.05.2022 09:23
Bitcoin is down 3.6% over the past week, ending near $29,900. Ethereum lost 5.8%, while other leading altcoins in the top 10 fell from 5.4% (XRP) to 9.2% (Cardano). The exception was Binance Coin (+3.3%). By Monday, the cryptocurrency fear and greed index is down 4 points to 10 According to CoinMarketCap, the total capitalisation of the crypto market has changed little over the past seven days at 1.29 trillion, as the decline at the beginning of the last week was largely reversed by its end. By Monday, the cryptocurrency fear and greed index is down 4 points to 10. Bitcoin has declined for seven consecutive weeks amid a sell-off in stock markets. Bitcoin is in its 13th day of trading through the $30K level. Galaxy Digital CEO Mike Novogratz said that the altcoin market will collapse by another 70% Over the weekend, we saw almost traditional buying by retail investors, but their strength only allowed them to bounce back from Friday's losses. If we look at Bitcoin as a leading indicator of risk demand rather than tailing off moves in the S&P500 or Nasdaq, we may well be in a situation where the tail rules the dog. Galaxy Digital CEO Mike Novogratz said that the altcoin market will collapse by another 70% with US Fed policy and a bearish trend. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM Microsoft co-founder Bill Gates said he only invests in assets that "deliver returns". In his view, cryptocurrencies do not fall into that category. Billy Marcus, one of the creators of Dogecoin, said the cryptocurrency market is a mix of unhealthy optimism, FOMO, panic, scams, gambling, and widespread stupidity. He said he has not been involved in the DOGE project for more than 7.5 years but describes himself as a coin supporter. Follow FXMAG.COM on Google News ECB head Christine Lagarde said that, unlike central bank digital currencies, cryptocurrencies have no value and are not based on anything. A group of G7 finance ministers pointed to the importance of accelerated legislation to regulate digital assets following the collapse of the UST stable coin and LUNA cryptocurrency.
Bitcoin Price (BTC/USD) Is In Tight Consolidation! Which Direction Will It Strike? | Geco.one

Bitcoin Price (BTC/USD) Is In Tight Consolidation! Which Direction Will It Strike? | Geco.one

Geco One Geco One 23.05.2022 14:45
Bitcoin fell between 5-12 May 2022 by over $13,000, i.e. over 33%. It increased the range of the ongoing from 28 March 2022 depreciation to over $21,000, i.e. 44%. In turn, counting from the peaks of November 2021, BTC decreased by over $42,000, i.e. 61%. Bitcoin Price (BTC/USD) Such a significant sale caused the exchange of the oldest virtual currencies to drop from $69,000 to below $27,000, which was the lowest level since December 2020. It is noteworthy that this trend did not stop around the critical level of support of $29,000, where various types of demand reactions have occurred many times in the past. It was no different now. This time, however, the rebound turned out to be extremely modest, and as a result, Bitcoin found itself in a horizontal trend. Considering that the consolidations are corrective formations, statistically, more often, the market will push out of this type of system in the direction consistent with the earlier move. This particular case increases the risk of a potential bottom breakout, which could signal a potential for further declines to the $24,000 region or even below $20,000. This scenario may also be supported by the fact that the upper limit of this system coincides with the measurement of 38.2% Fibonacci correction from an earlier downward impulse. Ethereum Price (ETH/USD)  The current situation on the Ethereum quotes is also identical. The price of this cryptocurrency fell between 3 April and 12 May this year by 52%, dropping to the Tech Support area of $1,750, the lowest level since July 2021. However, taking into account that the demand response that appeared around this support was much more modest than the rebound observed in this area already in May, June and July 2021, one can assume that in the end, it will turn out to be only a correction, after which the ETH rate will return to around $1,750. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM A permanent drop below this price level could open the door for further declines to $1,400. There is another significant support around which we could expect a greater demand response. It is worth mentioning here, however, that although the consolidations are corrective formations, there is no rule determining when the market should break out of the system. This fact means that, although the statistics favour further declines before they happen, the ETH exchange rate may remain in the range of $1,900 to $2,150 for some time. (XRP) Ripple Price Looking at the XRP quotes, we can see that the price of this cryptocurrency fell between 28 March and 12 May this year by over 63%. This sell-off led to the breach of several important support zones and did not stop until around $0.36, where on 12 May this year, there was a demand response. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM However, the subsequent rebound did not last too long. As a result, the XRP price has remained in the horizontal trend for several years. It assumes a return to the vicinity of $0.36 seems more likely. If, however, this support was permanently defeated, then the quotations of this cryptocurrency could even move towards $0.20. Binance Coin (BNB) The current situation on Binance Coin's quotes is also very interesting. The price of this cryptocurrency fell between 7 November 2021 and 12 May 2022 by over 67%. This sale only stopped around $260 technical support - on Thursday, 12 May this year, there was a demand response. Due to the rebound that has continued since then, the BNB price has risen by more than 51%, thus returning to the area of ​​previously defeated support (now resistance) of $330. If a larger supply relationship is around this level, signalling its potential rejection, the BNB price could return to around $260 or even drop further to the $200 region. It’s finally time to get down to business. Start serious trading with Geco.one - top 20 cryptocurrencies, 1:100 leverage, staking, low fees, intuitive design, no KYC. Trading on derivatives has never been easier. Join us https://app.geco.one Follow FXMAG.COM on Google News
Bitcoin Began To Move Up Today, Does That Signifies A Shift In Trend?

"Many Crypto-Sphere Projects Are About To Fall"! | Bitcoin’s tedious walk around $30K | FxPro

Alex Kuptsikevich Alex Kuptsikevich 24.05.2022 10:20
Bitcoin continues its tedious walk around $30K in a narrow range of $28.6-30.6K. Ethereum lost 0.4%, while other leading altcoins in the top 10 fell between 1% (XRP) and 2% (Solana). The exception was Binance Coin (+2.9%). Bitcoin reversed from the upper end of its range for the past two weeks The total capitalisation of the crypto market, according to CoinGecko, fell 0.8% overnight to $1.33 trillion. The Bitcoin Dominance Index fell 0.5% to 42.1%. The cryptocurrency Fear and Greed Index was up 2 points to 12 by Tuesday and remains in “extreme fear”.The dynamics of the first cryptocurrency in recent days seem to have become determined by the balance of power between bulls and bears, but not the stock market dynamics. The latter showed gains on Monday, while bitcoin reversed from the upper end of its range for the past two weeks.CoinShares data for last week showed a record weekly outflow of institutional investors from crypto funds since the start of the year. Funds are operating cautiously, and their actions may be holding back growth while buying on the dips comes from retail and crypto-kits. Thus, the market is distilled from sporadic participants who want to “ride the wave” but are not crypto enthusiasts by nature. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM According to Gary Gensler, head of the SEC, many crypto-sphere projects are about to fall Without the hype inherent in the golden days’ for crypto, the flow of money into the industry is drying up, a cruel test of strength. Over the past two weeks, investors have withdrawn more than $10bn (13%) from Tether’s USDT stable coin. According to Gary Gensler, head of the SEC, many crypto-sphere projects are about to fall. But that is not stopping lobbyists from promoting cryptocurrencies as a long-term investment vehicle. A bill has been introduced in the US House of Representatives that could lift restrictions on crypto investments by pension funds. Follow FXMAG.COM on Google News
UK Labor Market Shows Signs of Loosening as Unemployment Rises: ONS Report

Crypto Crash: Bitcoin Price (BTC/USD) Is Near $30K, US Stocks Could Be Better | Oanda

Craig Erlam Craig Erlam 24.05.2022 14:29
Stock markets are back in the red on Tuesday, with US futures also pointing to a negative start on Wall Street in a couple of hours. These wild swings from one day to the next have become the norm as investors try to pick the bottom in the markets only to be dealt another blow from one negative headline or another. And they continue to come thick and fast, leaving equity markets vulnerable to further drops. Snap Stock Pessimistic Chinese growth forecasts and a profit and revenue warning from Snap appear to have been behind the latest tumble, although there are so many headlines pouring out, you could probably pick another half a dozen reasons to explain the selling. Ultimately it comes down to the fact that the level of economic uncertainty is immense and while recessions are not the base case, they are a very realistic prospect. Read next: (TRX) TRON USD Decentralised Blockchain Platform That Focuses On Entertainment And Content Sharing. Altcoins: A Deep Look Into The TRON Network | FXMAG.COM Not least in the UK, where PMIs slipped back to levels not seen since lockdown. Except that the economy is fully open and operating without any restrictions at all, which is deeply concerning. The cost-of-living crisis is already having an impact and is expected to hit the economy hard, with the BoE anticipating double-digit inflation and a possible recession. The PMI data appears to be backing that up, with the services survey falling heavily from 58.9 last month to 51.8 this. That’s barely in growth territory and a hugely negative shift. The squeeze on household budgets is going to intensify later in the year which creates a feeling of inevitability about a recession. Perhaps that’s why we’re starting to see attitudes shift within government although as yet, we haven’t seen any new measures announced. Bitcoin consolidation continues There hasn’t been much change over the last week or so on the bitcoin front. It continues to bounce around USD 30,000 with moves below not gaining much traction to the downside and those above the same. It continues to look vulnerable below as there simply isn’t much of a bullish case for it in a monetary tightening and risk-averse environment. If we start to see markets pricing in fewer hikes then it may change but that looks a little hopeful at this point. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Follow FXMAG.COM on Google News
Bitcoin Is Showing The Potential For The Further Downside Rotation

Declining Bitcoin Price (BTC/USD)!? Ether Price (ETH/USD) Has Increased, AVAX Gone Down. Be ready for (BTC) Bitcoin to end consolidation with a drop | FxPro

Alex Kuptsikevich Alex Kuptsikevich 25.05.2022 09:00
Bitcoin’s fluctuations continue to shrink, meaning the spring is being compressed further. The lower bound of the trading range has moved to $29K, from where the BTCUSD has received support since the start of active trading in New York. The upper bound of the formed triangle has moved to $30.5K against current prices at $30.0K, reflecting a 1.8% gain over the past 24 hours. Ethereum has added 0.3% in the past 24 hours, with other altcoins in the top 10 from a 2.9% decline (Avalanche) to a 1.0% rise (BNB), but all faring worse than the crypto flagship. Total coin capitalisation, according to CoinMarketCap, rose 1.1% to $1.28 trillion, with the Bitcoin Dominance Index up 0.4% to 44.7%. The Cryptocurrency Fear and Greed Index was down 1 point to 11 by Wednesday and remains in “extreme fear”. The bitcoin price is in consolidation mode, equally dangerous for both bulls and bears. Both gain liquidity over time and get used to the current prices. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM On the market cycle side, the chances are higher than the current consolidation will culminate in a breakdown of the lower boundary and liquidation of stop orders, reinforcing the initial downside momentum. Behind the pessimistic outlook is a tightening of monetary policy with slowing economic growth, which puts retail investors in the mode of withdrawing capital from cryptocurrency in favour of consumption. It does not help that the expectations of getting rich fast through cryptocurrencies are not paying off, as bitcoin is worth as much now as it was in early 2021. The ECB warned that the high correlation between cryptocurrency and stock markets... Investing in the industry is becoming more professional, moving beyond naïve attempts to buy and hold. According to CoinShares, investors are withdrawing money from bitcoin and investing in blockchains that support smart contracts, such as Cardano and Polkadot. Net capital outflows from crypto funds last week amounted to $141m. The ECB warned that the high correlation between cryptocurrency and stock markets is usually seen in times of dire economic conditions and will no longer allow the diversification of investment portfolios with digital assets. Follow FXMAG.COM on Google News
Crypto: Extreme Fear!? Bitcoin Price (BTC/USD) Is Stable, But Ether’s (ETH) Performance Reflects The Pressure. What About Ripple And Stellar? | FxPro

Crypto: Extreme Fear!? Bitcoin Price (BTC/USD) Is Stable, But Ether’s (ETH) Performance Reflects The Pressure. What About Ripple And Stellar? | FxPro

Alex Kuptsikevich Alex Kuptsikevich 26.05.2022 09:34
Bitcoin ignored the positive dynamics of US stock indices on Wednesday, further reducing the amplitude of its fluctuations. The first cryptocurrency has been moving in a $29.5-30.0K range since the start of active trading in New York. We caution that this reduction in volatility risks turning into an explosion in the near term, potentially setting off momentum for a few days or weeks. BTC Price A formal break of consolidation would be considered a consolidation beyond the previous local extremes, which are located at $30.2K and $29.3K. Going beyond those limits in a sharp move promises to trigger a wave of liquidation of positions that the bulls and bears have brought closer to the current price due to low volatility and bored speculators in recent days. Outside of Bitcoin, the situation is more worrying. The total capitalisation of the crypto market, according to CoinMarketCap, has fallen 1.6% in the last 24 hours to $1.25 trillion. Bitcoin’s dominance index is 0.4 points to 45.1%. Ether Price (ETH/USD) Ethereum lost 3%, dropping to 1915, the lower end of a steady trading range for the past two weeks. The daily candlestick chart clearly shows a sequence of increasingly lower local highs. This dynamic is a sure sign of a sustained sell-off in crypto, temporarily covered by Bitcoin’s stability. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Bitcoin’s stability against such an external backdrop may be nothing more than a temporary consolidation of capital in the most liquid cryptocurrency and is supported by improved sentiment in stocks. Crypto Fear And Greed Index The cryptocurrency Fear and Greed Index was up 1 point to 12 by Thursday and remains in “extreme fear”. Ripple lawyer Stuart Alderoty criticised the stance of US Securities and Exchange Commission Chairman Gary Gensler and the SEC’s desire to seize administrative control of the cryptocurrency market. Stellar will provide its technology to the Central Bank of Brazil to develop the digital currency. Follow FXMAG.COM on Google News
Bitcoin Price (BTC/USD) - Reversal OR Continuation? The last couple of days/weeks were truly boring

Bitcoin Price (BTC/USD) - Reversal OR Continuation? The last couple of days/weeks were truly boring

Richard Nasr Richard Nasr 26.05.2022 12:29
BTC has been stuck inside our gray range, and the last couple of days, that range is contracted to form range within a range. The longer the consolidation, the more aggressive the movement would be after the breakout. So be prepared! The question is... which way? Scenario 1: Trend Reversal For the bulls to take over, we need a daily momentum candle close above the upper bound / gray zone. In this case, a movement till the upper resistance zone 38k - 40k would be expected. Scenario 2: Trend Continuation For the bears to take over, we need a daily momentum candle close below the lower bound / gray zone. In this case, a movement till the lower demand zone resistance 18k - 20k would be expected. Which scenario do you think is more likely to happen? and Why? Always follow your trading plan regarding entry, risk management, and trade management. Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM Good luck! All Strategies Are Good; If Managed Properly! ~Rich Follow FXMAG.COM on Google News
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

"BTC is the most reliable asset in this very volatile world"!? Ether (ETH/USD) Decreased By Over 10% Throughout Last Week, Solana (SOL) Lost 14.8%. What About Polkadot (DOT)? | FxPro

Alex Kuptsikevich Alex Kuptsikevich 30.05.2022 08:27
Bitcoin is down 2.5% over the past week, ending near $29,200. Ethereum lost 10.6%, while other leading altcoins in the top 10 fell from 1% (Polkadot) to 14.8% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, sank 2.4% over the week to $1.26 trillion. Bitcoin’s dominance index jumped 1.3 points to 44.9% over the same time due to the better performance of the first cryptocurrency. Cryptocurrency fear and greed index The cryptocurrency fear and greed index was down to 10 points by Monday. However, this drop does not consider the positive market performance in the early hours on Monday. Bitcoin has closed lower for eight consecutive weeks, the longest sell-off streak in the first cryptocurrency’s existence. But the last two weeks have been very tentative declines. Follow FXMAG.COM on Google News How Much Is 1 Bitcoin? On Monday morning, BTCUSD surpassed the $30K mark again and returned to last week’s highs, breaking above the downside resistance line in a strong move. It will be premature to talk about a bullish counteroffensive until Bitcoin gets above $30.6K, its horizontal resistance line since mid-May. Renewed risk appetite in global markets is fuelling hopes of a turnaround. Divergence in equity and cryptocurrency dynamics was conspicuous last week, highlighting the weakness of the crypto market. Bill Miller, head of investment firm Miller Value Partners, called bitcoin an effective means of accessing financial services regardless of military and economic situations Dan Held, business development director at crypto exchange Kraken, believes the current crypto crisis is not as severe as previous ones, as institutional players have entered the market in recent years and increased market liquidity. We would add that thanks to the expanded crypto market capacity, we haven’t seen as much of a surge in the bull cycle of 2021 as we did in 2013 and 2017, which explains the not-so-high ‘winter’ losses. MicroStrategy CEO Michael Saylor said he will always buy bitcoin. Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM According to him, BTC is the most reliable asset in this very volatile world. Bill Miller, head of investment firm Miller Value Partners, called bitcoin an effective means of accessing financial services regardless of military and economic situations. Regulation of cryptocurrencies would help with the crisis in the crypto market, according to Deutsche Bank.
Bitcoin Price Reaching $20K Is Still Possible, Even If The Crypto Market Crash Is Believed To Be Over | Geco.one

Bitcoin Price Reaching $20K Is Still Possible, Even If The Crypto Market Crash Is Believed To Be Over | Geco.one

Geco One Geco One 30.05.2022 14:22
After a fall of more than $13,000 that we saw between 5 and 12 May, Bitcoin stopped in the area of ​​$28,500 technical support. There have been many different kinds of demand reactions in this area. It was no different now. Bitcoin Price (BTC/USD) This time, however, this rebound turned out to be highly modest; as a result, Bitcoin has been moving in a horizontal trend for three weeks. The rebound from the lower bound of this formation observed last weekend may drive an increase towards its upper limit, i.e. resistance of $31,500. However, it seems highly probable that the increases observed since Saturday will not lead to a permanent change in the market attitude and the return of BTC to the path of long-term gains. For this to happen, the quotations of the oldest virtual currencies would have to break above $31,500. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Price Of Bitcoin Reaching $20K!? Considering that consolidations are corrective formations and, statistically, more often, the market breaks out of these systems in the direction consistent with the previous move, there is a high probability that there will be a more significant supply response in the area of this resistance. It could signal a potential for further declines in the region of $28,500, even further toward $24,000, or even below $20,000. This scenario supports the fact that the upper limit of this system coincides with the measurement of 38.2% Fibonacci retracements from an earlier downward impulse. This prediction can change if Bitcoin breaks above the technical resistance of $31,500. Then we could expect a continuation of increases towards $34,500, or further to $37,000. Ether Price (ETH/USD) Looking at the Ethereum quotes, we notice that, in line with our last week's projection, the cryptocurrency's rate in the second half of last week broke below the technical support of $1,900 and slipped as much as $1,730. Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM It is where the demand reaction reappeared last weekend. As the new week starts, it has led to a re-test of a previously defeated support (now resistance) of $1,900. The immediate future of ETH will now depend on what happens around the level currently being tested. Its permanent defeat, i.e. a break above $1,900, could open the way to further increases towards $2,150 or further towards $2,350. However, the emergence of a more significant supply response at this point, signalling a potential rejection of the resistance currently tested, could, in turn, indicate a potential for a further decline to $1730 or even further toward $1400. Polygon (MATIC) Looking at the MATIC quotations, we can see its price has been in the horizontal trend for almost three weeks between the technical support of $0.57 and the resistance of the $0.75. If the increases observed since last Saturday will continue, the MATIC quotations could return to $0.75. However, considering that this resistance coincides with the measurement of 38.2% Fibonacci retracements, it seems highly probable that more supply pressure will reappear in its vicinity. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM It is also worth remembering that consolidations are corrective patterns, which in this particular case increases the probability that the market will try to break out of this pattern with the bottom and further decline even towards $0.45. It’s finally time to get down to business. Start serious trading with Geco.one - top 20 cryptocurrencies, 1:100 leverage, staking, low fees, intuitive design, no KYC. Trading on derivatives has never been easier. Join us https://app.geco.one
Will ETH Beat BTC? Are BTC ETFs Coming Shortly? Extreme Fear! Bitcoin Price (1 BTC) Has Neared $32K! BTC Gained 7% Yesterday, Ether Price (ETH/USD) Increased By 8.2% And Cardano Price (ADA/USD) Added 14.8% | FxPro

Will ETH Beat BTC? Are BTC ETFs Coming Shortly? Extreme Fear! Bitcoin Price (1 BTC) Has Neared $32K! BTC Gained 7% Yesterday, Ether Price (ETH/USD) Increased By 8.2% And Cardano Price (ADA/USD) Added 14.8% | FxPro

Alex Kuptsikevich Alex Kuptsikevich 31.05.2022 08:55
Bitcoin jumped 7% on Monday, ending the day at around $31.2K. On Tuesday morning, positive momentum persisted, with the rate climbing above $32.0K, a 20-day high. Ethereum added 8.2%, while other top-ten altcoins gained between 4.9% (BNB) and 14.8% (Cardano). The total capitalisation of the crypto market, according to CoinMarketCap, rose 4.3% overnight to $1.31 trillion, with the Bitcoin Dominance Index rising 0.1 points to 46%. The Cryptocurrency Fear and Greed Index was up 6 points to 16 by Tuesday but still in “extreme fear”. Long-term? Due to the US bank holiday, markets were minimally active on Monday, but the momentum was on the plus side. The emerging rebound from the bottom may be self-sustaining at first, as many market participants believe that the crypto market has corrected enough to become attractive for long-term buying. Bank Of America And Crypto However, fundamentals such as halving, soft monetary policy or accelerated adoption are needed for growth to continue. But the latter is not easy right now. Bank of America CEO Brian Moynihan has stated that the bank has no plans to introduce cryptocurrencies in the foreseeable future because the industry is too strictly regulated. After the Terra project collapsed, CFTC Commissioner Caroline Pham compared investing in crypto-assets to buying lottery tickets, which can be expected to both win and lose. ETH With Bigger Market Capitalisation Than Bitcoin? Real Vision CEO Raoul Pal reiterated that in the long term, Ethereum, the leading smart contracts platform, will surpass bitcoin in terms of market capitalisation, trading volume and number of active wallets. SkyBridge Capital founder Anthony Scaramucci noted the interest of large investors in spot bitcoin ETFs and suggested they could be launched as early as this year. Payments service MoneyGram plans to launch Stablecoin transfer services in partnership with Stellar.
Crucial Upcoming PMI Data and High-Stake Meetings Shape China's Economic Landscape

How Have (BTC/USD) Bitcoin Price, Gold Price And Stocks Been Doing This Week? | BeInCrypto

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 03.06.2022 13:07
Be[in]Crypto brings you an overview of this week’s price movements for bitcoin (BTC), gold, and our stock pick, GameStop.     BTC While an improvement over the prior two weeks, bitcoin has been struggling to maintain a $30,000 baseline. Trading just below $29,000 on May 19, BTC rose above $30,000 the next day, but swiftly returned below. Over the next two days it trickled upward, before accelerating up to $30,000 by May 24. Hitting resistance again, it dropped back down to $29,000 and failed to recover over the next few days, eventually slipping further down to $28,250 by May 27. While it rose a bit over the following days, BTC spiked on May 30, reaching $32,000 by May 31. Once again, BTC plummeted from there to $29,000 by June 2 and is now trading around $30,000.     Bitcoin’s rise to $32,000 was a result of markets responding to the relaxation of COVID-19 restrictions in China, in addition to the possibility that the Federal Reserve could loosen its hawkish stance later this year. “Bitcoin’s price action today is not entirely surprising,” said Joe DiPasquale, the CEO of crypto fund manager BitBull. “Not only is it facing pressure from traditional markets, it has also been struggling to breach the resistance zone between $31K-$32K, resulting in a breakdown from the range it set over the weekend.” GOLD The gold price has fared well over the past two weeks. Trading around $1,810 on May 19, it then shot up to $1,845 later that day, before rising even further to $1,865 by May 23. While sinking a bit from there, gold rose a bit higher by May 24 before sinking a bit back to $1,845. Over the next few days, gold reached $1,855, then dropped down further to $1,830 by June 1. However, over the past day, it has surged and is now trading around $1,865.  Gold prices rose yesterday bolstered by a dip in the dollar and data showing U.S. private payrolls rose less than expected last month. “[The job data] is really raising the recession concerns that have been brewing in the market and supporting gold,” said Ryan McKay, commodity strategist at TD Securities. According to ADP National Employment Report data, private payrolls rose by 128,000 jobs last month against a forecast for an increase of 300,000 jobs. GME GameStop shares have trickled down over the past two month, but have surged over the past week. At the beginning of April, GME dropped from $190, and had fallen to $140 by April 18. Despite a brief recovery, it continued to trickle down, hitting $115 by May 1. While maintaining around $120 the next few days, it continued to fall and hit $80 by May 11. It then shot up the next day to nearly $110 and traded between $100 and $90 until May 25. From there it shot up to nearly $150 on May 26, and while it has fallen a bit since then, it is currently trading around $135. During its latest financial results, GameStop reported sales of $1.378 billion, up from $1.277 billion during the same period last year. The company said that new and expanded brand relationships have helped boost sales, in what is likely a reference to its crypto efforts. CEO Matt Furlong said in the earnings call: “We firmly believe that digital assets are core to the future of gaming,” giving a clear indication that the company is going to double down on its digital assets strategy. GameStop will release its highly anticipated NFT marketplace in the second quarter of the year, which should inject a lot of life into the company’s business, having seen a resurgence since last year’s stock incident.  Disclaimer All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.   Source: BeInCrypto
Bitcoin Is Showing The Potential For The Further Downside Rotation

Bitcoin Price (USD) Plunged! BTC/USD - Is It A Significant Loss!? "37% Of People Want Crypto To Be A Legal Tender!" | FxPro

Alex Kuptsikevich Alex Kuptsikevich 07.06.2022 09:13
Bitcoin rose 4.9% on Monday, ending at around $31.5K. However, on Tuesday morning, the first cryptocurrency collapsed 7% to $29.5K, the second such bear attack in the past seven days. Both were of similar magnitude, but the latter should have a more considerable negative effect. It more than offset Monday's gains and temporarily brought the price back to levels from May 30. The BTCUSD consolidation has been going on for more than a month. Earlier it was formed as a triangle with decreasing amplitude of fluctuations, but since the end of last month, it became more like a sideways pattern, from which it makes several failed attempts to break upwards. The market dynamics this Tuesday morning are a reminder that the market cannot now rally again as it did in 2020. Bitcoin's prolonged sideways slide is turning current prices into the norm, although current levels seemed like a good buy for the long term two months ago. 2018 and 2019 teach us that such consolidations can last for months and often lead to new selloffs from frustrated fast earners. In our view, the bitcoin bear market is not over yet, although it has made a significant part of its way down. The market is full of rumours that short-term buyers have already capitulated, backed up by Kathy Wood. But the whole bear market rarely ends at this phase. Far more often, a bull market begins when medium-term investors and even some long-term investors capitulate, bringing stressed market professionals into play. It is unlikely to reach this point before the price returns to the highs of 2017. Bitcoin's short-term volatility is irrelevant, MicroStrategy CEO Michael Saylor said. He said BTC is the surest thing in a very volatile world and is more suited to long-term investment rather than trading. According to a survey by The Economist, 37% of respondents in the world's leading economies are interested in having their governments adopt cryptocurrencies as legal tender.
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Bitcoin Price (USD) - No More Bulls? Is It The Beginnig Of A... Decline!? #Crypto

InstaForex Analysis InstaForex Analysis 07.06.2022 12:13
Relevance up to 10:00 2022-06-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Bitcoin continues to trade within a narrow range of $29k–$31.5k. The coin solidly consolidated and tried to break out of the area, but eventually made a false breakout of the $32.2k level. Subsequently, the asset tried to consolidate in the upper part of the range, but began to decline. And as of June 7, the sellers are in full control of the situation.     The cryptocurrency was traded near the upper border of the channel, but eventually fell like a stone to its lower part. As a result, the price is trading in the area of $28.6k, and on the daily chart, a "bearish engulfing" pattern has formed. It is also extremely important to understand that bears are expanding the usual price movement area. This could mean a further decline, as well as the presence of volumes of liquidity that need to be squeezed out of the bulls.     Technical indicators of the cryptocurrency have made a steep peak and are moving towards the lower boundary of the bullish zone. This indicates the formation of large sales volumes, as well as a sluggish reaction of buyers. Nevertheless, the MACD indicator has resisted and is consolidating sideways. However, clouds are gathering around Bitcoin bulls again, and bears completely seize the initiative. With this in mind, a reasonable question arises: will the previous weeks of consolidation be leveled, and the asset continue to fall? Let's start with the fundamentals, which are entirely based on Fed policy. Investors are concerned about the pace of monetary tightening, which could lead to a significant slowdown in economic growth. As a result, we saw a preventive reduction in liquidity from market players in order to preserve it and subsequently redistribute it profitably. This can also be regarded as a definite signal for the Fed about the need to pause in such strict regulation of monetary policy. Fed members have also repeatedly stated the need to return to liberal monetary policy and let the markets breathe. Such a pause would be similar to the recent correction of the US dollar index, which turned out to be a breath of fresh air for the crypto market. But there is every reason to believe that the regulator does not plan to pause, and will continue to tighten monetary policy.     This is evidenced by the statistics on the labor market for May 2022. In May, more than 350,000 jobs were created in the United States. This result was significantly lower than similar indicators in April. At the same time, analysts are confident that inflation will stay in the region of 6%–7%, which leaves the Fed with no way out. At the June meeting, it is planned to increase the key rate by another 50 basis points.     However, it is important to understand that another $45 billion will be withdrawn under the quantitative tightening (QT) program, a significant part of which was injected into the crypto market. If we combine the balance sheet contraction with the effect of the interest rate hike, it turns out that in June the key rate will be raised by 1 basis point. June could become an even more painful month for high-risk assets, even with the partial market adjustment after the May crash.     At the same time, back in May, there was a tendency for long-term investors to sell their stocks. In the short term and psychologically, this is a negative signal that contributes to the growth of bearish sentiment. But from a fundamental point of view, this means the gradual formation of a local bottom. A similar situation was observed in the market in 2014 and 2018. However, it took months for investors to fully form a long-term low. How the situation will develop in 2022 is impossible to predict.     But it is safe to say that the market has passed the worst stage of this bearish trend. In parallel with the capitulation of long-term investors, there is a massive process of accumulation that will be the catalyst for the next bull market. But only long-term hodlers can say for sure how long the period of capitulation + accumulation will take. It is likely that in order to speed up this process, we can expect a local retest of the bottom. Given these developments, Terra's collapse is not to be expected, but volatility surges and sell-offs are more than likely.   Read more: https://www.instaforex.eu/forex_analysis/313140
Technical Outlook Of The Further Movement Of Bitcoin

Technical Analysis of BTC/USD for June 9, 2022

InstaForex Analysis InstaForex Analysis 09.06.2022 15:30
Relevance up to 14:00 2022-06-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: While New York State is pushing through a bill that will ban Proof of Work mining, members of the crypto community are voicing their opposition via social media. Jake Chervinsky, head of policy at the Blockchain Association, explained in a Twitter thread that the move would not "reduce carbon emissions" at all. According to Chervinsky, the mining ban will force New York miners to operate elsewhere where the state has no control over them. Chervinsky hopes New York Governor Kathy Hochul will veto the bill "for the sake of New York." The lawyer noted that the move sends a message that "crypto is not in a welcome state". Chervinsky added that if the law was implemented, it would be a political mistake on the part of the world's financial capital. In addition to Chervinsky, this was opposed by US Senatorial candidate Bruce Fenton. In a tweet, he said governments have no right to control the specific software that citizens use. He noted that "code is speech," implying that the ban is a movement against freedom of speech. Ethereum founder Vitalik Buterin also agreed with Fenton. Sharing his thoughts on the subject, Buterin said the government should not decide which uses are "okay" for electricity. He suggested introducing carbon prices. On June 3, a bill to ban mining was approved by the New York State Senate. After approval by the governor, the law will ban mining in the state and make it difficult to renew previously issued cryptocurrency mining permits. Technical Market Outlook: The range bounded trading conditions are still being developed on the BTC/USD pair, full of fake-outs and blow-outs and false movements. The market participants has still not decided whether the down trend should be continued or terminated and keep trading in a narrow range between the levels of $32,892 - $28,741. The first indication of the deeper correction would be a clear breakout above the range high located at the level of $32,892, however all the current attempts to rally are being faded and the Pin Bar candlesticks inside the range zone are present already.     Weekly Pivot Points: WR3 - $34,666 WR2 - $33,580 WR1 - $31,452 Weekly Pivot - $30,233 WS1 - $28,222 WS2 - $27,019 WS3 - $24,877 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support is seen at the round psychological level of $20,000.   Read more: https://www.instaforex.eu/forex_analysis/279285
Best Crypto To Invest In? Cryptocurrencies: Are BTC And ETH "Best Long-Term Investments"? Ethereum (ETH/USD) Decreased By 0.4%, Cardano (ADA) Lost 2.5% | FxPro

Best Crypto To Invest In? Cryptocurrencies: Are BTC And ETH "Best Long-Term Investments"? Ethereum (ETH/USD) Decreased By 0.4%, Cardano (ADA) Lost 2.5% | FxPro

Alex Kuptsikevich Alex Kuptsikevich 10.06.2022 09:06
Bitcoin was down 0.3% on Thursday, continuing to hover around $30K. This mild decline was a bonus of last month's loss of correlation between the cryptocurrency and stock markets. Ethereum lost 0.4%, settling near $1800. Other top-10 altcoins showed mixed dynamics, ranging from a 2.5% decline (Cardano) to a 3.6% rise (Solana). Financial market veteran Peter Brandt believes Ethereum is in a downward triangle and could fall to $1268 within a month. The total capitalisation of the crypto market, according to CoinMarketCap, fell 0.2% overnight to $1.24 trillion. The cryptocurrency fear and greed index were up 2 points to 13 by Friday and remains in "extreme fear" mode. Bitcoin has crossed the $30K mark almost daily over the past month, with no significant preponderance of buyers or sellers to form a clear trend. Generally, the correlation gap between cryptocurrencies and stock markets is long-term good news as it attracts the attention of professional investors. Weakness in equity and bond markets, sagging gold and the murky outlook for the real estate market are turning their eyes to cryptocurrencies as another tool in a diversified portfolio. CNBC's Mad Money host Jim Cramer has changed his mind about investing in cryptocurrencies, calling BTC and ETH the best long-term investments. However, they should not account for more than 5% of a portfolio. PwC, an audit firm, reported that most hedge funds invest less than 1% of their assets in cryptocurrencies because of regulatory uncertainty in the industry. According to a Deloitte survey, 75% of US retailers will implement support for cryptocurrency payments within two years. USDT, the world's most prominent staple by market capitalisation, will be available on the Tezos blockchain powered by the Proof-of-Stake consensus mechanism. The USDT ecosystem is now open on 12 networks, including Ethereum, Solana, Polygon, Tron and Algorand.
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

BTC/USD Hitting $20K!? Bitcoin Price Is Going Down! ETH/USD, Solana (SOL) And Tron - They All Have Decreased! | FxPro

Alex Kuptsikevich Alex Kuptsikevich 13.06.2022 08:36
Bitcoin is losing for the seventh consecutive day, at one point on Monday morning, falling below $25K. The loss in seven days of selling is approaching 18%, bringing the rate to its lowest since December 2020. Ethereum has lost 28% in seven days. Altcoins in the top 10 fell in price from 14.5% (Tron) to 32% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, sank 20% for the week, approaching the 1 trillion mark and crossing it at some point in the morning. As the price falls, so does trading volume, meaning we see investors fleeing the crypto market. However, the traditional market is suffering from the same symptoms. The cryptocurrency Fear and Greed Index dipped to 11 points by Monday. Two similarly prolonged swings of this index in the 10-20 range were in December 2018 and March 2020. In the first, it was the end of the crypto-winter; in the second, it was the final chord of the sell-off. However, it may be too early to rush to redeem the drawdown. Bitcoin does not seem to have closed the gestalt yet, having not tested the 200-week moving average as it did in the previous two cases. It is now passing through 22K. A more ambitious target for the bears would be an attempt to push Bitcoin back to the 2017 highs region, above $19K. US Treasury Secretary Janet Yellen called cryptocurrencies a ‘very risky’ option for retirement savings. Galaxy Digital CEO Mike Novogratz warned investors of a prolonged phase of market consolidation amid tightening monetary policy by the US Federal Reserve. Cardano blockchain founder Charles Hoskinson believes there are positives to be found even in the current market situation, as a bearish trend opens new opportunities for the crypto sphere. The Central Bank of Canada reported that the share of its citizens owning BTC almost tripled to 13% in 2021. The Swedish Central Bank has called for a ban on bitcoin and other Proof-of-Work cryptocurrencies because of the environmental impact.
Crypto Market Crash!? What's "Cryptozyma"? Bitcoin Lost 15.1% (BTC/USD) Yesterday! ETH Has Decreased By 7.8%! | FxPro

Crypto Market Crash!? What's "Cryptozyma"? Bitcoin Lost 15.1% (BTC/USD) Yesterday! ETH Has Decreased By 7.8%! | FxPro

Alex Kuptsikevich Alex Kuptsikevich 14.06.2022 09:32
Bitcoin collapsed 15.1% on Monday, ending the day around $23,200 and slipped another 10% on Tuesday morning on inertia before finding support from buyers after touching $20,800. Ethereum has lost 7.8% in the past 24 hours and more than 30% in the week. The top ten altcoins show buyer optimism, with Solana up 9.5% and Cardano up 7.3%. Among the decline, leaders are Tron with -8% and BNB with -3.5%. The total capitalisation of the crypto market, according to CoinMarketCap, sank 6% overnight to $0.965 trillion. The Cryptocurrency Fear and Greed Index was down 3 points to 8 by Tuesday and remains in “extreme fear”. Bitcoin collapsed on Monday in the biggest decline since the March 2020 crisis amid falling stock markets and a rising US dollar. Bitcoin closed the December 2020 gap by touching the area below the 200-week simple moving average. But in our view, Bitcoin needs to touch levels near 19500: the 2017 peak, which is also where the most aggressive growth phase started at the end of 2020, for a definitive return of long-term buyers. A similar three-point checklist for Ether is also incomplete. ETHUSD touched the 200-week average and dived below the peak levels of the previous cycle in 2018. However, the most aggressive rally at the end of 2020 came from $740, which is well below the day’s lows today at $1075. However, the latter target may prove too ambitious for the bears. Along with BTC, cryptocurrency-focused stocks also collapsed. MicroStrategy shares lost 25.2%, while Coinbase dropped 11.4%. The key trigger for the sell-off in the crypto sphere is the US inflation hike to 8.6% on Friday, followed by speculation that the Fed could raise rates by 75 points at Wednesday’s meeting or at the end of July. According to IntoTheBlock, about half of cryptocurrency holders are now incurring losses. According to Crypto.com CEO Chris Marszalek, the market has entered a phase of “cryptozyma” that could drag on, according to Crypto.com CEO Chris Marszalek. Cryptocurrency lending platform Celsius has suspended withdrawals, exchanges and transactions of digital assets due to “extreme market conditions”. Tether has ruled out the impact of the Celsius incident on USDT reserves. The US Office of the Comptroller of the Currency has warned of the risks associated with Stablecoin, citing the collapse of the Terra project. The US Treasury Department believes that the country’s authorities should be more proactive in seeking to regulate the crypto industry, given the active digitalisation of the financial sector.
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Morning rebound faded as PPI remains elevated, Oracle impresses, MicroStrategy all-in on bitcoin, bitcoin holding above USD20k

Ed Moya Ed Moya 14.06.2022 23:22
Wall Street was quick to fade the morning rebound that stemmed a modest improvement with producer prices, possibly providing some hope that core inflation continues to ease for businesses. Wholesale prices are still climbing higher and while they are slightly off the record annual pace, this report does not change anything for the Fed.  Aggressive tightening over the next handful of policy meetings is the only course of action for the Fed. PPI PPI rose 0.8% for the month and 10.8% over the past year.  The April reading downward revisions across the board, so that could support the idea that consumers might see slightly less price increases passed on. The Fed will focus on the month-over-month readings and those are still rising.  The headline 10.8% increase in wholesale prices for the month of May was lower by a tick for both the downwardly revised prior reading and consensus estimate. Oracle earnings sparkle Thank you, Oracle!  If Oracle didn’t crush earnings and remind Wall Street that it is not all doom and gloom out there, US stock markets might have kept the selling pressure going.  Oracle boasted a strong outlook as they saw a “major increase in demand” for cloud infrastructure.  Oracle is somewhat viewed as a safe-haven tech trade and this strong fourth quarter performance will keep it as a must hold on Wall Street. MicroStrategy One of the biggest bitcoin backers, Michael Saylor remains committed to relentless belief with the world’s largest cryptocurrency.  Saylor tweeted, “When @MicroStrategy adopted a #Bitcoin Strategy, it anticipated volatility and structured its balance sheet so that it could continue to #HODL through adversity.” MicroStrategy is in danger of a massive margin call and there is no going back for them. In May, their president, Phong Le noted that bitcoin would need to lose half its value around USD 21,000 before they’d have a margin call. Regardless of what happens with bitcoin, investors should be hesitant to use MicroStrategy as their way of gaining exposure to cryptos.  MicroStrategy could have bought protection at any point and they remain blindly bullish on cryptos. Bitcoin ​ Bitcoin traders better be buckled up heading into the FOMC decision.  Bitcoin is still holding the USD 20,000 level and if Wall Street gets a very hawkish decision and press conference, Treasury yields and the dollar could surge once again and that would test the line in the sand many crypto traders have drawn.  If bitcoin breaks below the USD 20,000 level, support might not emerge until the USD 17,000 level. Another crypto plunge might not see major support until the 2019 summer high around the USD 14,000 level. This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Morning rebound faded as PPI remains elevated, Oracle impresses, MicroStrategy all-in on bitcoin, bitcoin holding above USD20k - MarketPulseMarketPulse
What's It Going To Be Celsius? Can Bitcoin Price Go Any Lower? Yesterday BTC/USD Lost 5.7%, ETHUSD Decreased By 38% In A Week

What's It Going To Be Celsius? Can Bitcoin Price Go Any Lower? Yesterday BTC/USD Lost 5.7%, ETHUSD Decreased By 38% In A Week

Alex Kuptsikevich Alex Kuptsikevich 15.06.2022 09:26
Bitcoin was down 5.7% on Tuesday, ending the day at around $22K. The decline picked up on Wednesday morning, taking another 3.3% off the price to $21K, declining for the eighth consecutive day and losing 30% in seven days. Ethereum lost 8.1% in 24 hours and 38% in a week. Leading altcoins in the top ten are losing between 2% (Polkadot) and 9.6% (Dogecoin). Total cryptocurrency market capitalisation, according to CoinMarketCap, sank 6.4% overnight to $898bn. The Cryptocurrency Fear and Greed Index was down 1 point by Wednesday, to 7, which last was in March 2020. Concerns around a sharp tightening of monetary policy are weighing on financial markets and are trickling down into cryptocurrencies through their influence on large institutional investors. It is not surprising that Bitcoin and Ether are dragging the entire cryptocurrency market down in such an environment. According to CoinShares, institutional investors withdrew $102 million from cryptocurrencies last week amid expectations of a tightening of monetary policy by the US Federal Reserve. The US regulator’s two-day meeting results will be announced todays. BitMEX founder Arthur Hayes fears that the market has not yet hit rock bottom, and we could see a massive sell-off in cryptocurrencies if bitcoin falls below $20,000. Galaxy Digital head Mike Novogratz is convinced that bitcoin is close to the “bottom” and will hold above $20,000. We believe Bitcoin may be close to its bottom, but it could take months until the next rally. During those months, the entire crypto industry will probably go through a furnace of fire, as we saw with Terra (Luna), and is now happening with Celsius. Stablecoins continue to be tested, and USDD being below parity with USD for the third day tells us that history with USDT (stable tied to Luna) could repeat itself several times.
Market Crash: Are Ethereum (ETH) And Bitcoin (BTC/USD) Price "Very Close To Their Bottom"!? | FXStreet

Market Crash: Are Ethereum (ETH) And Bitcoin (BTC/USD) Price "Very Close To Their Bottom"!? | FXStreet

FXStreet News FXStreet News 15.06.2022 16:46
Analyst who predicted the bear market of 2018 believes Bitcoin and Ethereum prices are very close to their bottom. Kevin O’Leary of Shark Tank detailed his crypto holdings include Ethereum and scaling solution MATIC. Analysts argue that a drop below $1,070 could push Ethereum prices lower. The cryptocurrency analyst known for accurately predicting crypto bear markets believes Ethereum is close to printing cycle lows. Analysts believe Ethereum price could continue to plummet lower. Ethereum price could hit bottom soon? The crypto strategist Smart Contracter accurately called the bottom of Bitcoin and Ethereum during the 2018 bear market. The analyst is now back with his prediction for the two largest cryptocurrencies and believes BTC and ETH are close to their cycle low. The analyst told his 208,000 followers on Twitter that Ethereum has gone through a capitulation phase and is now trading at a level that offers strong support. Smart Contracter is quoted in his recent tweet: BTC and ETH are both at their weekly respective 200-week moving averages. Bottom is very, very close in my opinion, maybe marginal new lows on lower timeframes but this is the spot to start accumulating in my opinion. This is pure unadulterated capitulation. ETH-USD price chart Kevin O’Leary is bullish on Ethereum Kevin O’Leary, a Canadian entrepreneur and investor at Shark Tank, recently revealed the cryptocurrencies in his portfolio. O’Leary has shared his investment strategy when the crypto market is hit by massive volatility. The Shark Tank star and billionaire investor abide by the general rules of portfolio theory when allocating capital to cryptocurrencies. In an interview with the Bankless podcast, O’Leary shared the rules of capital allocation in his portfolio, implying a bullish outlook on Ethereum, one of the cryptocurrencies he holds. Ethereum price drop below $1,070 could push the altcoin to new low Analysts have evaluated the Ethereum price trend and argue that $1,070 is major support for ETH, and a drop below this level could put a lot of pressure on bulls. The altcoin’s price could slide to support at $1,000 in the near term. ETH-USD price chart Ethereum price could enter the three-digit territory FXStreet analysts believe Ethereum price could decline and plummet lower, entering the three-digit territory. For more information, watch this video:
Is The Recent Crypto Crash Like 2008 Crisis!? Bitcoin (BTC/USD) Price Is Very Close To $19K Level! Bitcoin will test historical patterns

Is The Recent Crypto Crash Like 2008 Crisis!? Bitcoin (BTC/USD) Price Is Very Close To $19K Level! Bitcoin will test historical patterns

Alex Kuptsikevich Alex Kuptsikevich 17.06.2022 10:27
Bitcoin was down 4.9% on Thursday, ending around $20.7K and trading near $20.8K at the start of the day on Friday. Ethereum lost 6.4% in the last 24 hours, returning to the 1100 area. Altcoins in the top 10 fell in price from 2.9% (BNB) to 8.8% (Polkadot). Total crypto market capitalisation, according to CoinMarketCap, sank 3.5% overnight to $903bn. Bitcoin’s dominance index fell 0.3 points to 44.0%. The Cryptocurrency Fear and Greed Index was up 2 points to 9 by Friday. Although we did not see any new intraday lows, Bitcoin closed Thursday with a tenth consecutive day of declines. New lows in stock indices contributed mainly to this. Bitcoin could be uncharted territory in a few days when historical patterns stop working. The bearish focus remains on the circular $20,000 level, the former peak of 2017. At no time in past down cycles has BTC fallen below the high of the previous bull cycle. Closing the week below $22.3K would also be unique, as it would be the first close below the 200-week average. Bitcoin has previously fallen below this curve more than once but quickly regained some ground, finding ample demand from long-term investors amid a deep and quick sell-off. The latest issue to attract investors’ attention has been the uncertainty surrounding Singapore-based cryptocurrency fund Three Arrows Capital (3AC). The hedge fund could be the subject of a new scandal amid growing speculation about its possible bankruptcy. Commodity Futures Trading Commission (CFTC) Commissioner Christy Goldsmith Romero called on the US Congress to close the cryptocurrency regulation gap and compared the collapse in the crypto-asset market to the 2008 financial crisis.
Is Crypto Crash Still There!? Why does Bitcoin (1 BTC To USD) continue to decline despite the rise in "buy the dip" sentiment? | InstaForex

Is Crypto Crash Still There!? Why does Bitcoin (1 BTC To USD) continue to decline despite the rise in "buy the dip" sentiment? | InstaForex

InstaForex Analysis InstaForex Analysis 17.06.2022 14:35
Relevance up to 10:00 2022-06-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. The crypto community held its breath as the price of Bitcoin approached the vital $20k level. Subsequently, the buyers managed to recapture an important milestone and stabilize the situation. The asset managed to get to the $22k level and start consolidating. The number of mentions of "buy the dip" is growing on the network, which has always been a signal for the formation of a local bottom. In addition, Bitcoin has formed a "bullish hammer" pattern, which can also be regarded as a positive signal for a likely price reversal.     All of the major metrics also point to bear market peaks. The fear index has updated its annual maximum, which indicates that the point of highest tension has been reached. Also, the volume of long positions on some crypto exchanges continues to grow. Santiment experts believe that large investors are ready to defend the $22k level, which is becoming a key area for a trend reversal.     Technical indicators also demonstrate local positive. The RSI index starts an upward movement and will soon leave the oversold zone, which indicates the activation of purchases. The Stochastic Oscillator has formed a bullish crossover and is also approaching the upper border of the oversold zone. In general, positive signals are visible, but there is no need to hope for a successful implementation of short-term bullish impulses, since similar situations have been observed over the past two weeks. In addition, the MACD is still in a direct downward peak, which indicates that the bulls are not taking any initiative in the long term.     Sellers also do not lose their grip and continue to put pressure on the price. As of June 17, the asset has fallen below $22k and is trading in the $21k area. Over the past two weeks, a record number of Bitcoins have entered crypto exchanges, and the worsening economic crisis and rising inflation continue to negatively affect the quotes of the first cryptocurrency. One of the main reasons why a wide reversal in the price of Bitcoin fails is the decrease in the overall level of liquidity.     This crisis is most evident in the situation around stablecoins. In the second quarter of 2022, stablecoin volumes declined by $10 billion, excluding the situation with UST. The market saw the negative side of stablecoins, decoupling from the US dollar and vague reporting. As a result, in addition to the general reduction in liquidity associated with the bear market and Fed policies, the market has lost a lot of investment in stables due to the fallen reputation of stable digital coins. As a result, there is less liquidity and fewer stablecoins in the market, which negatively affects the implementation of bullish impulses.     The second important factor that influenced such a powerful fall in Bitcoin was the actions of mining companies. According to Santiment, the net inflow of BTC to crypto exchanges from miners has reached a historical record of 88,000 coins. Bitcoin mining companies have faced the negative effects of the bear market, as well as the energy market crisis. As a result of the war in Ukraine and the subsequent sanctions against the Russian Federation, the energy resource market has become volatile, which directly affects the main components of the miners' activities. As a result, mining companies became the main suppliers of BTC coins to exchanges as part of the $20k retest. In addition to these factors, the Fed's aggressive policy, rising inflation, and the ongoing war in Ukraine should not be discounted. All these factors indirectly affect and destabilize Bitcoin quotes and the cryptocurrency market. Despite this, the market has found a foothold in the $22k area, where the BTC bulk buying is taking place. In addition, it is important to understand that as the asset consolidates above $20k, there is an increase in positions in the $16k–$19k range. If the round level is broken, the price will not be able to sink like a stone to $15k, as the $16k–$19k area becomes saturated and thus slows down the fall. Therefore, even a breakdown of $20k will not cause a violent reaction in the market and panic. Read more: https://www.instaforex.eu/forex_analysis/313778 Read more: https://www.instaforex.eu/forex_analysis/313778
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Investing In Crypto? Trading plan for (BTC) Bitcoin on June 17, 2022

InstaForex Analysis InstaForex Analysis 17.06.2022 15:07
Relevance up to 14:00 2022-06-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Technical outlook: Bitcoin dropped to fresh lows close to the $20,000 mark early this week before finding some bids coming in. The crypto remains range-bound between $23,000 and $20,000 levels for now and needs to break out to decide the next larger move. Looking at the recent price action, there could be another drop below the $20,000 mark before resuming higher again. Bitcoin has carved a meaningful downswing between $69,000 and $20,000, which ideally needs to be retraced. The recent downswing can be seen between $48,000 and $20,000, with immediate resistance around the $32,000-$35,000 zone. The asset can produce a rally in the near term before reversing lower again. Bitcoin has still not confirmed a near-term bullish reversal in accordance with price action. We shall wait for further evidence on the smaller timeframes to update the same going forward. Aggressive traders might initiate long positions with a tight risk below the $19,000 mark which conservative traders are looking to stay aside for a while. Trading plan: Preparing for a counter-trend rally at least towards $35,000. Good luck!   Read more: https://www.instaforex.eu/forex_analysis/280635
Bitcoin Maintains A Steady Bullish Potential

Crypto Market Has Been Topping Headlines For A Very Long Time! Bitcoin Price Has Decreased Significantly! | ING Economics

ING Economics ING Economics 17.06.2022 15:28
The problems surfacing in crypto markets over the past weeks are well-known in traditional finance, as are the tools to address them. If this does not illustrate why crypto regulation is welcome, what will? While the NASDAQ composite stock index has lost about a third since November last year, bitcoin has lost double that   While all financial markets have been volatile of late, crypto assets in particular are having a very bad time. Leading cryptocurrency bitcoin is currently down 30% compared to a week ago. While crypto assets were, until not too long ago, seen by many as uncorrelated with traditional stocks, the crypto downturn since November has progressed in remarkable sync with traditional assets, tech stocks in particular. The common factors that drive down traditional markets – inflation and rate hike expectations – are weighing on crypto as well. The crypto accelerator, now in reverse Moreover, where crypto appeared to enjoy an accelerator when markets were bullish, that same accelerator is now at play in the bear market. While the NASDAQ composite stock index has lost about a third since November last year, bitcoin has lost double that (see chart). This multiplier can probably at least partly be traced back to the build-up of leverage when times were good, and the unwinding of that same leverage over the past weeks and months. Indeed a number of prominent crypto investment names currently in trouble appear to suffer from margin calls on leveraged bets gone wrong. Bitcoin and Nasdaq composite (rebased to 9 Nov 2021 = 100) Source: Macrobond Algorithmic stablecoins: the emperor's new clothes? Instrumental in the recent crypto market turmoil has been the crash of “algorithmic” stablecoin Terra, in early May. This type of stablecoin is not backed up by assets to guarantee its value, but deploys an algorithm trading in the stablecoin versus a companion currency. The idea was that the algorithm could always mint new companion currency to buy stablecoin, keeping up the value of the latter. What worked for Baron von Munchhausen, does not work for algorithmic stablecoins Yet the crucial assumption for this to work is that the companion currency is perceived to have at least some value. That assumption was proved wrong by the Terra stablecoin. As a result, its algorithm took the concept of “quantitative easing” to wholly new levels when it increased the supply of companion currency Luna more than 20,000 times (from about 350 million to over nine trillion at the peak), trying to prop up Terra. Alas, what worked for Baron von Munchhausen (getting out of the swamp by pulling up his own hair), does not work for algorithmic stablecoins in an environment of evaporating confidence. Stablecoins as full reserve banks The episode was perceived by regulators as a confirmation of the need to regulate stablecoin very much like a bank. That makes a lot of sense. Like a bank deposit, stablecoins are expected to always trade at par with the currency in which they are denominated. Stability, security and liquidity are key concepts. And like a bank, a stablecoin may face runs if confidence is tested. Banks have various mitigations and remedies in place, encouraged and imposed by regulation. We expect algorithmic stablecoins to retreat to the margins of the crypto universe Purely algorithmic stablecoins are unlikely to pass the regulatory bar, and we expect them to retreat to the margins of the crypto universe. Instead, stablecoins will likely have to be fully backed by high-quality liquid assets. In other words, stablecoins will be full reserve banks (as opposed to traditional banks that operate on fractional reserves). The full reserve operation means stablecoin issuers hardly face any credit risk, removing the need for a deposit guarantee scheme, and greatly simplifying the capital buffer framework, compared to traditional banks. The need to pre-empt systemic risks Regulators are rightly worried though that if stablecoins grow further their issuers may become systemically relevant. In case of a run and the need for asset fire sales to honour redemptions, even high-quality liquid assets may temporarily trade against a discount, imposing losses on the issuer and disrupting safe asset markets for the entire financial system. The crypto universe currently houses a few dominant stablecoins. The consensus is that these may not yet pose systemic risks as described but may well start to – if their volume issued continues to grow as it has done over the past years. A textbook bank run in crypto The crypto company that had to halt redemptions earlier this week – and in so doing started a new wave of panic – is different: it is neither a stablecoin nor a regulated bank, but for its main product offering it did use bank-like language such as “savings” and “deposit”. It also distinguished itself by offering double-digit yields that are impossible to find in traditional banking. The company has had various run-ins with US supervisors, that opined it was offering a securities product without proper registration. Faced with a run, any institution that is in principle solvent, can turn illiquid The crypto company did vaguely resemble traditional banks in the sense that its assets tended to be riskier than its liabilities tended to be perceived. Also, some of its assets appear to be locked up for a longer period, whereas its liabilities were immediately redeemable. Finally, the liquidity of some of its assets proved to deteriorate fast in current markets. These transformations of risk, maturity and liquidity are core functions of a traditional bank. They also render a bank susceptible to runs. Faced with a run, any institution that is in principle solvent (its assets are worth at least as much as its liabilities), can turn illiquid (it cannot liquidate its assets immediately at the right price to honour redemptions). For this reason, bank regulation may be the most elaborate type of regulation out there, including liquidity buffers to handle redemptions, capital buffers to absorb losses, detailed risk management, and transparency requirements. If, despite all this, a bank runs into trouble, the central bank can act as lender of last resort (against proper collateral), and if the bank does fail, deposit guarantee schemes (typically financed by the sector itself) ensure depositors don’t end up with a loss. Mutual funds have the important difference that they don’t issue liabilities at par – meaning that contrary to banks, they pass on credit risks to their investors. Insofar as their assets are tied up for a longer time, they may impose lock-up periods on investors wanting to redeem.   To summarise, the problems currently faced by some crypto companies are well known in traditional finance, as are the tools to mitigate them. If regulation had been in place, risk-taking and leverage might have been more contained, or at least have been more transparent. Does regulation guarantee things never go off the rails? Unfortunately, no. But it would have established basic investor protection, and would have allowed them to realise that there is no such thing as a free lunch: high return typically comes with high risk. Our main takeaway from this week is therefore twofold: The sooner regulation is in place in crypto, the better. It will help investors to distinguish the good from the bad and the ugly, and to choose products that match their risk appetite. As leveraged positions continue to be under pressure and a lack of confidence leads investors to want to cash out, we are likely to see more currencies, companies and platforms wobble in the weeks ahead. Read this article on THINK TagsRegulation New Money Market crash Cryptocurrency Bank pulse Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
Bitcoin Maintains A Steady Bullish Potential

Bitcoin went underwater: for how long? | InstaForex

InstaForex Analysis InstaForex Analysis 17.06.2022 22:39
Relevance up to 12:00 2022-06-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Defeat and capitulation. This is how the cryptocurrency market can be characterized. The aggressive tightening of the Fed's monetary policy, rampant growth in debt rates, the collapse of the stablecoin TerraUSD and its sister token Luna, as well as the intention of the largest crypto lender Celsius Network to suspend all withdrawals, exchanges and transfers made the bulls on BTCUSD a chop. Bitcoin went underwater, collapsing to the lowest levels over the past 1.5 years, leaving in the cold most of the buyers who bought it during this period. However, according to Bill Gates, cryptocurrencies and NFTs are assets 100% based on the fool's theory. What else did you want? Bitcoin and its analogues were bought only because people were sure that someone would pay more for them after a while. You will not receive any interest or dividends on them. There are no issuing companies or states behind them. Buying air, the Fed only inflated the bubble with its colossal monetary stimulus, which plunged real Treasury yields deep into the red and supported the entire risky asset class. The debt sell-off triggered by the Fed's aggressive monetary tightening returned the ratio between S&P 500 stock dividend yields and bond dividend yields to the lowest levels since the 2008 recession. Financial markets have returned to the era before the Lehman crisis, when bonds did not support stocks. Dynamics of the ratio of dividend yield on shares and interest on bonds     It is difficult to expect that a decrease in P/E to 15.7, the average value over the past 15 years, will reverse the downward trend in the S&P 500. In December 2018, the multiplier fell to 13.8, and in March 2020 to 13.4. As cheap as stocks look, they can get even cheaper. Given the close correlation between BTCUSD and the Nasdaq Composite, this does not bode well for fans of the leader in the cryptocurrency sector. Optimists hope that Bitcoin will be able to stabilize near the round mark of 20,000, as it did in 2018–2019 with the level of 5,000 and in 2014–2015 with the level of 300. Pessimists say that the peak to 10,000 will continue. At the same time, the lower the BTCUSD quotes will sink, the faster the sales will go. This is due to the departure of the token from the average price at which it was purchased. Parallels can be drawn with diving. In previous cases, in 2018–2019 and March 2020, it turned out to be relatively short. How will it be this time? Dynamics of BTCUSD and the average purchase price of Bitcoin     Personally, I remember the story of 2013 with gold. Then they also said that it could not sink too deep, since the cost of production is at the level of $1,300 per ounce. In fact, the precious metal almost reached $1,000. BTCUSD, Daily chart     Technically, to implement the reversal pattern of the Wolfe Wave, a return of Bitcoin to 30,000 is required. Until this happens, we use the rebound from the resistances at 23,300, 24,300, and 25,000 for sales.   Read more: https://www.instaforex.eu/forex_analysis/313784
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Crypto Market Crash And (1 BTC) Bitcoin Price Shocked Many! Technical analysis of BTC/USD for June 17, 2022 | InstaForex

InstaForex Analysis InstaForex Analysis 17.06.2022 22:49
Relevance up to 20:00 2022-06-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Technical market outlook of Bitcoin (cryptocurrency) : Trading Bitcoin (BTC/USD) : Bitcoin is at an all-time lowest against the dollar around the spot of $20,089 - Bitcoin is inside in downward channel. Since three weeks BTC/USD decreased within an down channel, for that Bitcoin hits new lowest $22k, $21k and $20,089. Consequently, the first resistance is set at the level of $21,183. Hence, the market is likely to show signs of a bearish trend around the area of $21,183 and $20,765. Bitcoin price could be awaiting a major downswing if the digital savings manages to slice below a fatal line of the first resistance that sets at the price of $21,183 (Horizontal black line). The prevailing chart pattern suggests that if the leading cryptocurrency could be expecting to rebound from the levels of $21,183. Psychological level has already set at the price of $20,000. If the BTC/USD fails to break through the support prices of $20,000 today, the market will rise further to $21,183 so as to try to break it. Bitcoin is one the best overall investment for 2022 and coming years. However, if you want to try to improve the growth of Bitcoin, thus it seems great to buy above the last bearish waves of $20,000 and $20,100. Buy orders are recommended above the majors support rates of ($20,000 and $20,100.) with the first target at the level of $21,183. Furthermore, if the trend is able to breakout through the first resistance level of $21,183. We should see the pair climbing towards the next target of $21,521 (to test the 50% of Fibonacci retracement levels). The pair will move upwards continuing the development of the bullish trend to the level $21,859 - golden ratio 61.8%. It might be noted that the level of $21,859 is a good place to take profit because it will form a new double top in coming hours. Trading recommendations : The trend is still bullish as long as the price of $20,000 is not broken. Thereupon, it would be wise to buy above the price of at $20,000 with the primary target at $21,183. Then, the BTC/USD pair will continue towards the second target at $ $21,521 (a new target is around $21,859). Alternative scenario : The breakdown of $20,000 will allow the pair to go further down to the prices of $19k and $18k.   Read more: https://www.instaforex.eu/forex_analysis/280667
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Market Crash: Bitcoin Price - Technical Analysis of BTC/USD for June 20, 2022

InstaForex Analysis InstaForex Analysis 20.06.2022 09:33
Relevance up to 09:00 2022-06-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: One of the largest airlines in Spain - Vueling - has announced cooperation with a cryptocurrency payment service provider. The aim of the newly established cooperation is to enable customers to pay for tickets in several digital assets. The start of this service has been announced at the beginning of 2023. Vueling has announced that it will be accepting 13 different cryptocurrencies as a form of payment. According to the airline's press release, the Barcelona-based company will use Universal Air Travel Plan (UATP) technology (the sector's global clearing network) to best integrate the new payment offering. The Spanish aviation giant will initially include 13 cryptocurrency payment options in its service. Among them are some of the leaders in terms of market capitalization, such as bitcoin (BTC), ether (ETH), Bitcoin Cash (BCH), litecoin (LTC), dogecoin (DOGE) and shiba inu (SHIB). If all goes as planned and the joint project is launched early next year, the Spanish company will become the first low cost airline in Europe to introduce cryptocurrencies as a payment method for customers. Technical Market Outlook: The BTC/USD pair is starting the new trading week on the positive note, because after the weekend drop to the level of $17,600 the market bounced back above $20,000 to test this level again. The bulls are bouncing from the extremely oversold market conditions, so the next target for bulls is seen at the level of $23,287. Any failure to hit or/and break above this level will likely result in another wave down towards the recent lows. The larger time frame outlook for Bitcoin remains bearish, however, we have unconfirmed Bullish Engulfing pattern on the Daily time frame chart, so please stay focused and keep an eye on the key levels this trading week.     Weekly Pivot Points: WR3 - $35,385 WR2 - $31,310 WR1 - $25,552 Weekly Pivot - $21,486 WS1 - $15,559 WS2 - $11,561 WS3 - $5,781 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the round psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712.   Read more: https://www.instaforex.eu/forex_analysis/280791
The Bitcoin Fall Will Likely Continue In The Future

Heavy crypto selloff brings some in, pushes most out! | MarketTalk: What’s up today? | Swissquote

Swissquote Bank Swissquote Bank 20.06.2022 17:00
A massive selloff hit the sector on Saturday and sent the price of Bitcoin below the $18K mark, the lowest level since the end of 2020. Ethereum fell below $900, as smaller cryptocurrencies followed their major peers to the south. Sunday saw a rebound as some dip buyers piled in on belief that Bitcoin may have cheapened enough to catch an interesting dip. In traditional markets, US equities saw some relief at the end of a heavily stressful trading week. The US dollar index is softer, gold consolidates and crude oil is down. Investor sentiment remains tense as ECB Chief Lagarde and Fed Chair Powell testify this week, and there will be a lot of inflation talk on the menu! Watch the full episode to find out more! 0:00 Intro 0:28 The heavy crypto selloff: buy the dip? 5:35 Market update 8:20 Economic events to watch this week 9.21 Corporate events to watch this week Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Bitcoin #Ethereum #selloff #cryptocurrencies #Celcius #Babel #ThreeArrows #buythedip #sell #panic #economic #corporate #calendar #USD #EUR #GBP #XAU #crude #oil #Fedex #Mobilicom #IPO _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Plenty of action to come

Craig Erlam Craig Erlam 21.06.2022 16:20
European stocks are making small gains again on Tuesday, benefiting from the relatively calm start to the week. The US returns following the bank holiday weekend which could see activity pick up, with particular focus on what the various central bankers have to say. Jerome Powell’s testimony in Congress on Wednesday and Thursday will naturally be the highlight but in this rapidly changing environment, all views will have the potential to get things moving. There’s no doubt that the next few days have far more on the calendar so investors may take the opportunity to breathe and take stock of the situation. It’s been a turbulent couple of weeks and the rest of the summer is likely to bring more of the same so these periods of reflection are welcome. With that in mind, these small recoveries in stock markets shouldn’t provide any comfort. Everyone is hunting for the bottom but there’s a huge cloud of uncertainty over the outlook and the data isn’t yet showing any encouraging signs. Recession is increasingly becoming the base case and so equities are vulnerable to further losses. Bitcoin remains vulnerable Bitcoin is holding on in there after breaking USD 20,000 over the weekend but despite breaking back above here early in the week, it remains highly vulnerable to another plunge below. I can’t imagine all of the negative headlines are behind us as far as the crypto industry is concerned and the wider financial market environment remains unfavourable. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Plenty of action to come - MarketPulseMarketPulse
The Developments In The Crypto Sector Made It Into The Record Books (The Guinness World Records)

Binance Academy: (BTC) Bitcoin Dominance - What Is It?

Binance Academy Binance Academy 23.06.2022 14:43
TL;DR   Bitcoin dominance, or BTC dominance, is measured as the ratio of the market capitalization of bitcoin to that of the rest of the cryptocurrency market. Some crypto investors and traders use bitcoin dominance as a guide to adjust their trading strategies and portfolio structures.    Introduction  While there are now thousands of altcoins out there, bitcoin, the original cryptocurrency, has remained the largest digital asset by market capitalization. Observing the dynamics of bitcoin’s share in the value of the overall crypto market, traders have spotted certain recurring patterns of market conditions. Some came to use BTC dominance as a guide for their trading behavior. In particular, BTC dominance is believed to offer insight into the current general market trend.    What Is BTC Dominance? | Binance Academy   BTC dominance and market capitalization In simple terms, market capitalization refers to the total value of a certain asset in circulation. For bitcoin, the market cap is calculated by multiplying the current price and the number of BTC that have been mined so far. You can calculate bitcoin dominance with this formula: Bitcoin dominance = Bitcoin market cap/ Total cryptocurrency market cap   Factors influencing BTC dominance Changing trends Before the explosion of altcoins, it was not uncommon for bitcoin dominance to hover above 90%. As altcoins collectively gained more user and investor interest, bitcoin lost some of this almost undivided attention to other assets with greater price swings and projects boasting new exciting use cases. While bitcoin was created to change how the transfer of value worked, crypto projects have evolved to do more. Unlike bitcoin, many altcoins are involved in different sectors, including gaming, art, and decentralized financial services beyond transferring money. Depending on the current trend, there may be more interest and trading around a particular type of crypto project. For instance, the explosion of NFTs may have caused BTC dominance to drop somewhat in favor of NFT-related tokens.  Over time, bitcoin has established itself as one of the more “stable” crypto assets. Traders’ interest in more dramatic price swings and associated profit opportunities that some newer altcoins offer can also affect bitcoin dominance, leading to funds flowing into riskier assets. In this case, the sectors these altcoins represent may not matter as much as the potential profits. Bull or bear market Over the last several years, there has been a general rise in the popularity of stablecoins, a trend that exerted sustained pressure on BTC dominance. More specifically, in a bear market or in times of volatility, stablecoins are often used to protect crypto investors’ funds amid falling prices. A stablecoin is an altcoin designed to maintain value equal to that of an asset with a more stable price, such as a fiat currency or commodity. Crypto investors and traders often use stablecoins to lock in profits without having to convert their crypto to fiat. When funds move out of the BTC market and into stablecoins, BTC dominance could go down. The inverse is likely in a bull market. When the market is up, traders can be incentivized to move value from stablecoins into more volatile assets that offer more trading opportunities, like bitcoin. However, emboldened traders may also choose riskier options and pump liquidity into altcoins that are even more volatile than BTC, so the overall effects of favorable market conditions on bitcoin dominance are highly context-dependent. On-ramping via stablecoins Stablecoins offer a convenient way to access a wide variety of cryptocurrencies compared to using fiat. This is because while there are fiat-to-crypto exchanges called gateway exchanges, they can be restrictive and only offer the more popular cryptocurrencies and stablecoins. Crypto-to-crypto exchanges, however, often provide a more comprehensive selection of cryptocurrencies tradable with select stablecoins. Hence, people who want to trade specific cryptocurrencies may enter the market via stablecoins. Naturally, if a significant amount of new funds enter the market through stablecoins and not bitcoin, the total value of the crypto market increases, causing a dilution in BTC dominance. Emergence of new coins Sometimes, new coins that enter the market can gain popularity quickly, causing BTC dominance to decrease. Remember that bitcoin is “fighting” with every other cryptocurrency in the market, so the emergence of several popular altcoins at once may affect it. However, there’s a chance that these altcoins may lose popularity after the hype dies down. If that happens and funds are moved from these altcoins to BTC or out of the crypto market entirely, BTC dominance may rise again.   Using BTC dominance in trading Wyckoff Method Developed in the early 1930s, the Wyckoff Method is a set of principles designed for traders and investors in traditional financial markets. Some of these principles, such as the law of cause and effect, can be applied when seeking profit opportunities using BTC dominance.  Many traders and investors use the Wyckoff Method to identify a market trend, estimate the likelihood of a trend reversal, and time trades. According to Wyckoff, trading behavior is organized into four phases: Accumulation, markup, distribution, and markdown. Identifying where and when funds flow can be important for some traders who rely on timing the market to make informed trading decisions.  Diversified traders and investors often use this approach to pick the stronger trend. Below are several scenarios where the Wyckoff Method is at play.  Using BTC dominance to spot altcoin season With the increasing number of altcoins in the market, it is unsurprising that bitcoin dominance is being diluted. In recent years, some altcoins have gained more popularity, causing the total market cap of all altcoins to briefly surpass that of bitcoin. Periods when altcoins steadily outperform bitcoin are known as “altcoin season” or “alt season.” Under the Wyckoff Method principles, such movement of funds from bitcoin to altcoins is cyclical. Because altcoins tend to perform better during an altcoin season, bitcoin may see its dominance weaken during this phase of the market cycle. Therefore, people who trade both bitcoin and altcoins may monitor bitcoin dominance to adjust their portfolios accordingly. Using BTC dominance with current bitcoin price Some people monitor bitcoin price along with bitcoin dominance to help them make trading decisions. Although they are not iron laws, here are some potential outcomes that various combinations of BTC price and dominance may be indicative of. When the price and dominance of BTC are rising, it could signal a potential bitcoin bull market.  When the price of BTC is rising but BTC dominance is falling, it could signal a potential altcoin bull market.  When the price of BTC is falling but BTC dominance is rising, it could signal a potential altcoin bear market. When the price and dominance of BTC are falling, it could signal a potential bear trend for the entire crypto market. While these two factors do not imply a definite bull or bear market, historical observations suggest a correlation.    Closing thoughts BTC dominance is a tool to help shed light on how the market cycles are changing. Some traders use it to adjust their trading strategies, while others use it to manage their diversified portfolios. Note that BTC dominance does not guarantee the performance of bitcoin or any other crypto but acts as a guide to help traders plan their trading approach.
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Uncertain Rebound and Inflation Data: How Likely Is Bitcoin To Fall Again?

InstaForex Analysis InstaForex Analysis 24.06.2022 13:40
Relevance up to 10:00 2022-06-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. It is safe to say that Bitcoin has gone through one of the most difficult periods in its history. Cryptocurrency has experienced the most massive sell-off and profit-taking in its history. Thus, the asset completed the fifth phase of the bear market, which is called "panic." If we believe this conditional division of the crypto winter into cycles, then we are at the final stage of the global price decline. But despite all the pain and the losses for investors, there are several warning signs that may indicate another attempt to find a local bottom.     First of all, we are talking about the formation of the current market bottom at $17.7k. On the daily chart, you can see that there was no price rebound as such. Most likely, this should be regarded as the depletion of the downward potential. The volumes of buying activity during reaching the local bottom of the market were at a low level. We didn't see a long lower candlestick shadow like we did in 2021. This suggests that the bears have realized all their goals, and the bulls could not oppose this.     The same can be said about the current period of consolidation. It was not preceded by an active upward correction, which is typical after any strong price movement. Instead, we see hesitant Doji candles with long wicks. All these factors together indicate a complete lack of buying initiative and the volumes necessary for an upward movement. The dynamics and results of the return of BTC/USD above $20k became possible due to the termination of the sale by the miners.     It is no longer a secret to anyone that it was the cryptocurrency mining companies that became the main sponsor of the Bitcoin price drop below $20k. The downward potential of the bears was exhausted, and only the aggravated problems of the miners provided the sellers with the necessary volumes for the price to drop below $20k. Mining firms sold off all BTC accumulated in May 2022.     In addition, since June 14 alone, companies have sold more than 18,000 Bitcoins, which has been a serious pressure on the price. If you look at the chart, it turns out that it was after June 14 that the price crusade below $20k began. As of June 24, miners have stopped the mass sale, and even resumed accumulation. However, the nature of the rebound from $17k may indicate that the $17k level will not hold if there are repeated problems.         Repeated problems are quite possible already in early July. The main catalyst for the current decline in BTC was just negative data on inflation in the United States. Fed Chair Jerome Powell said at his last meeting that the current rate of inflation growth is forcing the Fed to act tougher, but later we will monitor the indicator and rely on the results when determining the level of the key rate hike.     After the events of early June, when, contrary to market expectations, it turned out that the Fed does not control the level of inflation, players will closely monitor the level of consumer price growth. With the war in Ukraine continuing and the US announcing new military and economic aid, there is no doubt that inflation is still capable of delivering unpleasant surprises to the market.     The fundamental and technical features of Bitcoin indicate that the asset can retest $17k, and possibly go lower. However, based on the historical context of the movement of BTC/USD quotes, we can say that the likely decline will be the last in the current bear market. In the history of Bitcoin, there have been many cases when the formation of a local bottom was due to a repeated price decline.   Read more: https://www.instaforex.eu/forex_analysis/314444
Bitcoin Maintains A Steady Bullish Potential

BTC update for June 24,.2022 - Breakout of the consolidation to the upside | InstaForex

InstaForex Analysis InstaForex Analysis 24.06.2022 14:42
Relevance up to 14:00 2022-06-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Technical analysis: BTC/USD has been trading upside and there is potential for further upside continuation. I found rejection of the rising trend-line in the background, which is good sign for fruther rally. Trading recommendation: Due to the breakout of the consolidation and rejection of the rising trendline, I see potential for further rally. Watch for potential buying opportunities on the intraday dips. Upside objective is set at the price of $22.880. Stochastic is showing upside reading with no evidence for the reversal, which is good sign for further bullish movement. Support is set at the price of $20.700 Read more: https://www.instaforex.eu/forex_analysis/281728   Read more: https://www.instaforex.eu/forex_analysis/281728
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Trading plan for Bitcoin on June 24, 2022

InstaForex Analysis InstaForex Analysis 24.06.2022 16:03
Relevance up to 15:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Technical outlook: Bitcoin rose above $21,400 on Friday as it continues to develop its corrective drop against $21,700-800. The recent pullback between $19,700 and $214,00 should be short-lived as bears might be preparing to come back on the market and drag prices towards $19,200 in the near term. Bitcoin has carved a larger degree downswing between $69,000 and $17,500 over quite a while. Even if BTC extends a further drop, it needs to produce a pullback rally towards the $33,000-35,000 zone in the next few trading sessions. Also, note that initial resistance is seen at around the $32,300 mark and a break there will encourage bulls. Bitcoin has also carved a lower degree upswing between $17,500 and $21,700 to confirm a deeper correction ahead. Prices are currently retracing the above rally and are expected to find support at around the Fibonacci 0.618 retracement seen at about $18,200. If the above scenario holds well, we should witness a drop from here before the rally resumes. Trading plan: Potential rally towards $33,000 and higher against $17,000 Good luck!   Read more: https://www.instaforex.eu/forex_analysis/281746
CZK: Koruna's Resilience Amid Global Influences - 16.08.2023

Summary Of 1H: Bitcoin Lost 60%! DAX Decreased By 20% Crude Oil Price Is Ca. 40% Higher Than In The Beginning Of 2022. First Half Of The Year 2022 Showed BTC Has Been Deeply Correlated With Tech Stocks

Swissquote Bank Swissquote Bank 01.07.2022 11:59
The first half is finally over, but the pain is certainly here to stay. Economic data looks bad, employment softens, and inflation is up. The S&P500 closed the first half in the bear market, having lost more than 20% since the beginning of the year, while Nasdaq, which is more sensitive to the Fed policy and to the rising interest rates, closed the first half more than 30% down. Did Gold Withstand Volatility On Markets? Gold did a good job as a hedge to turmoiled markets, but the rising US yields increase the opportunity cost of holding the non-interest-bearing gold certainly limited the upside potential of the precious metal. DAX Lost 20%, FTSE Decreased By "Only" 4% Bitcoin proved to be an imperfect hedge against both inflation and the falling markets, while the DAX is down by more than 20%, and the FTSE, which benefited from surging oil and commodity prices, could lose its advance. Funnily, Chinese stocks diverged positively in the latest quarter, to catch up the losses for the year. Nasdaq’s Golden Dragon China index rebounded by more than 65% since the March dip. What’s next? The pain may not be over, as the Fed is expected to remain as aggressive as needed until it sees a material and a persistent softening in inflation. Watch the full episode to find out more! 0:00 Intro 0:13 We had a tough first half! 2:13 S&P500 had its worst half since 1970 3:02 Gold, flat 3:48 Bitcoin under pressure 4:51 European stocks down, but Chinese recover 5:43 What could help the risk selloff ease? Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #2H #expectations #forecasts #XAU #gold #USD #crude #oil #inflation #recession #economic #corporate #data #earnings #Bitcoin #market #selloff #DAX #FTSE #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH  
Crypto: BTC/USD Decreased By 5%. Altcoins - Cardano (ADA) Lost 4.2%

Crypto: BTC/USD Decreased By 5%. Altcoins - Cardano (ADA) Lost 4.2%

Alex Kuptsikevich Alex Kuptsikevich 13.07.2022 09:53
Bitcoin was down 5% on Tuesday, ending it at around $19,400 and remaining near that level by the start of European trading. Ethereum has lost 3.3% in the last 24 hours to $1055. Altcoins from the top 10 fell from 1% (BNB) to 4.2% (Cardano). Cryptocurrency market capitalisation Total cryptocurrency market capitalisation, according to CoinMarketCap, sank 2.1% to $870bn overnight. The Cryptocurrency Fear and Greed Index lost 1 point to 15. Bitcoin fell the most since Tuesday’s beginning of the month amid a stock indices decline. BTC fell below $20,000 and tested eight-day lows below $19,300. On weekly timeframes, Bitcoin remains pinned to the oversold RSI area and under the 200-week moving average. While indicating that the market has gone too far and too fast during the recent sell-off, this disposition does not yet show signs of rebound. The bear markets of bitcoin and other risky assets of the past teach us that a sell-off is usually followed by a prolonged sideways move but not a V-shaped rebound. Moreover, a final reversal is often preceded by a power failure - a capitulation that makes assets ridiculously cheap, which we have yet to see. According to CoinShares, institutional investors have shown little interest in crypto. Capital inflows into crypto funds last week amounted to $15 million, with about half of the funds coming into Ethereum products, with inflows into ETH rising for the third week. Inflows into funds that allow shorts on bitcoin fell to $6.3 million from $51 million a week earlier. The market has yet to form a bold ‘bottom’. Cryptocurrencies could soon face severe problems as they lack catalysts for growth in the face of widespread adversity, according to CoinShares.
Cryptocurrency: The end of crypto exchange Voyager journey?

Coinshares: "Bitcoin may continue to fall but will hit another all-time high in the next 24 months (...)" Yesterday's US CPI Caused Sell-Off, But Bitcoin Increased Over 1%

Alex Kuptsikevich Alex Kuptsikevich 14.07.2022 11:38
Bitcoin rose 1.1% on Wednesday, ending the day around $19.7K, and was back above $20K on Thursday morning. Ethereum has added 4.3% to $1100 in the past 24 hours. Top altcoins are adding from a modest 0.1% (Dogecoin) to a more notable 3.7% (Solana). Total crypto market capitalisation, according to ConMarketCap, rose 2.6% overnight to $896bn. US inflation data came out stronger than expected yesterday, which triggered an impulsive wave of dollar appreciation and a sell-off in risky assets, sending Bitcoin briefly below $19K. However, it is essential to note that the first cryptocurrency found buyers quite quickly on the decline to these levels and has already more than recovered its losses. This is a notable moment, as crypto has often taken on the role of a leading indicator of market sentiment in recent months. According to KuCoin, cryptocurrencies are popular in Saudi Arabia, with around 3 million residents investing in digital assets. Bitcoin may continue to fall but will hit another all-time high in the next 24 months, according to CoinShares. At the same time, the rate is not expected to fall below $14,000. The US Treasury Department has sought public comment on digital assets’ potential benefits and risks. According to President Biden’s executive order, the Treasury is to study the impact of cryptocurrencies on the financial system, economic growth, and national security. The Bank for International Settlements (BIS) has called for central banks to create “bridges” between the various national digital currencies (CBDC) that would allow tokens to interact with each other.
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Crypto: Technical Look - Bitcoin Price (1 BTC To USD)

InstaForex Analysis InstaForex Analysis 14.07.2022 15:18
Relevance up to 13:00 2022-07-15 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Technical analysis: BTC has been trading sideways in last few weeks and I see potential for the breakout mode. Trading recommendation: Watch for the breakout of the consolidation to confirm further direction. If the price breaks the resistance level at $22.360, watch for buying opportunities on the dips with the upside objective at $27.000 If the price breaks the support level at $17.700, watch for selling opportunities on the rallies with the downside objective at $12.776.     Read more: https://www.instaforex.eu/forex_analysis/284530
Bitcoin Began To Move Up Today, Does That Signifies A Shift In Trend?

Could Bitcoin Be Banned!? BTC Gained Almost 5%, Cardano Added 1.7%, SOL Increased By 7%

Alex Kuptsikevich Alex Kuptsikevich 15.07.2022 09:06
Bitcoin rose 4.9% on Thursday, ending at around $20,700, and retreated 200 at the start of trading on Friday. Ethereum has added 7.3% in the past 24 hours to $1190. Top altcoins gained between 1.7% (Cardano) and 7% (Solana). Crypto Market Cap According to CoinMarketCap, the total crypto market cap is up 3% overnight to $925B.Bitcoin was in demand in the US session on Thursday amid a rebound in US stock indices. BTC rose above the $20,000 level and tested three-day highs around $20,900.Bitcoin’s hash rate fell 27% to 159.41 EH/s due to a shutdown of miners in Texas. The figure was the lowest since February this year. Miners shut down equipment to save power due to the record heat wave.During June, the cost of mining bitcoin fell from $24K to $13K, which could boost coin sales by miners and become a barrier to BTC growth, JPMorgan said. According to Thomas Peterffy, CEO of Interactive Brokers, there is a high probability that bitcoin will be outlawed.The US government could ban cryptocurrencies out of concern that they are being used to finance illegal activities, tax evasion, and the Treasury Department’s inability to monitor transactions involving crypto assets.Cryptocurrency lender Celsius has filed for “immediate” bankruptcy in the US Bankruptcy Code, Chapter 11.A federal court in New York has frozen the remaining assets of cryptocurrency hedge fund Three Arrows Capital after the company filed for emergency bankruptcy.The European Central Bank has decided on the parameters of the future digital euro and intends to issue it in 2023. The success of CBDC will depend on its mass use.
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Crypto: Technical Analysis Of Bitcoin Price (BTC To USD)

InstaForex Analysis InstaForex Analysis 15.07.2022 10:25
Relevance up to 09:00 2022-07-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Bitcoin is back inside the ascending channelCrypto Industry News: The European Central Bank expects the completion of the digital Euro project in autumn 2023 and assumes that if the digital Euro project is to be fully successful, it must be universally accepted by all users in Europe. Yesterday, the European Central Bank (ECB) released a list of key targets in connection with the introduction of the digital Euro. The authors of the document presented are Christine Lagarde (bank president) and member of the management board, Fabio Panetta. The document attached to the list describes some fundamental issues concerning the design of the digital version of the single currency of the European Union. "The digital Euro can only be successful if it becomes part of the daily lives of Europeans. It must add value compared to existing solutions," reads the published post. Both authors said it was too early to agree on the details of the project, however the ECB anticipates the end of the project's investigation phase in autumn 2023. The ECB initiated the digital Euro project in June 2021. In October, the launch of the two-year research phase of the central bank's digital currency (CBDC) study was announced. Until now, sporadic hints have been made about the introduction of the digital Euro over the next four years and how the ECB is likely to limit the amount in circulation to 1.5 trillion euros ($ 1.5 trillion). All of this is to control any negative impact this may have on financial stability. Lagarde and Panetta also announced that the digital Euro is to be a means of payment, not a form of investment. Technical Market Outlook: The BTC/USD pair has bounced back up inside the ascending channel and retrace 50% of the last wave down already. In a case of further bounce extension, the next target is 61% Fibonacci retracement level located at $21,134. The level of $21,867 will now act as a technical resistance for bulls. The larger time frame outlook for Bitcoin remains bearish, however, we have unconfirmed Bullish Engulfing pattern on the Daily time frame chart, so please stay focused and keep an eye on the key technical levels.     Weekly Pivot Points: WR3 - $27,913 WR2 - $24,489 WR1 - $23,135 Weekly Pivot - $21,065 WS1 - $19,711 WS2 - $17,641 WS3 - $14,217 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712.   Read more: https://www.instaforex.eu/forex_analysis/284642
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Crypto: June - More Bitcoins Sold Than Produced!? BTC/USD - Technical Analysis!

InstaForex Analysis InstaForex Analysis 18.07.2022 10:45
Relevance up to 09:00 2022-07-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The latest data from blockchain analytics company Arcane shows that publicly traded miners sold more BTC in June than they produced. From January to April of this year, they only got rid of 20% to 40% of their production, sticking to their hodl strategy at all costs. The dynamics changed, however, as BTC plunged from $ 40,000 to $ 30,000 in May. The report identified companies such as Core Scientific and Bitfarms as the mining entities with the largest share of the decommissioning. The former dropped nearly 10,000 Bitcoins, leaving "only" 1,959 BTC, while Bitfarms sold 3,353 BTC. Meanwhile, Northern Data wiped out all of its Bitcoin and Ethereum holdings in May and June. Arcane Research said the massive sales will pay off with the upcoming infrastructure upgrades and machine deliveries. In 2021, miners were able to raise funds to cover the costs of mining. Now, however, access to external capital has weakened drastically due to rising interest rates and less investor interest in Bitcoin. Technical Market Outlook: The BTC/USD pair has bounced 7% in the last 24h, but is still trading inside the ascending channel. In a case of further bounce extension, the next target is seen at the level of $22,492, which is the local high from July 8th. The level of $21,867 will now act as a technical support for bulls. The larger time frame outlook for Bitcoin remains bearish, however, we have unconfirmed Bullish Engulfing pattern on the Daily time frame chart, so please stay focused and keep an eye on the key technical levels. The gamechanger level is located at $25,367.     Weekly Pivot Points: WR3 - $23,780 WR2 - $22,629 WR1 - $22,245 Weekly Pivot - $21,487 WS1 - $21,094 WS2 - $20,326 WS3 - $19,175 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367.   Read more: https://www.instaforex.eu/forex_analysis/284842
Cryptocurrency Market: Wow! Ethereum's The Merge Make The Network Use 99.95% Less Power!

Crypto: Bitcoin Price News - BTC/USD Increased By 3%. Why Could BTC Exceed Gold?

Alex Kuptsikevich Alex Kuptsikevich 19.07.2022 09:42
Bitcoin rose 2.9% on Monday, ending the day around $21.5K, and continuing to test the $22K level on Tuesday morning. So far, we are seeing an intensification of selling as buyers push the price up into the 23K area. Ethereum jumped 9.9% to $1480 and is already above $1500 in early Tuesday trading. The rise in recent days is almost a mirror image of the decline from June 10 to 18. Except for XRP, which is down 1.5%, the top altcoins add between 0.6% (BNB) and 4.3% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, rose 2% overnight to $1.02 trillion. Bitcoin is encountering increased resistance to its 50-day simple moving average approach. This line often acts as an indicator of a short-term trend in the markets. Notably, the Nasdaq100 sold off profusely on Monday night to climb above its line but closed the day below it. The market dynamics so far suggest a continued bearish trend in the financial markets’ most closely monitored retail investors and media sectors. Nevertheless, it is worth noting that Ethereum has successfully surpassed its 50-day average, while the dollar index is losing for the third consecutive trading session, indicating a timid recovery in demand for risky assets. The cryptocurrency Fear and Greed Index climbed 10 points to 30, its highest level since April 11 and moving away from ‘extreme fear’ territory to ‘fear’. A June report by Coinbase indicates that speculators were behind the fall in the crypto market, taking massive loans. In addition, according to Arcane Research, miners sold about a quarter of their bitcoin holdings last month to cover running costs. At the same time, long-term holders of bitcoin hardly ever sell it. Former top Blackrock executive Edward Dowd said that, over time, Bitcoin may surpass gold due to its unique characteristics, such as ease of transaction, transparency, and decentralisation.
Oil pullback ends, gold steadies

Is Crypto Market Crash Coming To An End!? Bitcoin Price (BTC/USD) Icnreased By Almost 10% Yesterday!

Alex Kuptsikevich Alex Kuptsikevich 20.07.2022 10:06
Bitcoin jumped 8.5% to $23,300 on Tuesday, showing a 20.8% gain over the last seven days. Ethereum is trading around $1570 on Wednesday morning, adding 3.4% in 24 hours and an impressive 49% for the week. Altcoins & Total crypto market capitalisation The top altcoins are also rising nicely, adding between 3.9% (Polygon) and 11% (Cardano) for the day. Total crypto market capitalisation, according to CoinMarketCap, rose 4.7% overnight to $1067bn. Bitcoin on Tuesday posted its highest gains in a month on the back of a rebound in US stock indices and a weaker dollar. Bitcoin BTC has tested the highs since June 13 near $23,700, and on Wednesday, it is trying to consolidate above its 50-day moving average. The dynamics near that line often acted as a reliable medium-term trend indicator. Only a strong buy above this level can serve as a firm reversal indicator in the next few days. If the upside momentum stalls, as it did in February and March this year, we should be prepared for a sharp increase in selling. BTCUSD also exceeded the 200-week average during the last growth wave but fixing above this level at the end of the week should be considered a reliable signal. Cryptocurrency Fear & Greed Index The cryptocurrency Fear & Greed Index climbed to 31 by Wednesday after more than two months in "extreme fear" territory. After waves of capitulation in May-June 2022, bitcoin quotes have been below the realised price for a month now. Other signals of a potential bottom forming have also emerged, Glassnode notes. CryptoQuant, the research firm, has warned investors that further sales of BTC miners in a falling market could return pressure on prices.
What caused the bankruptcy of the cryptocurrency lender, Celsius?

Celsius Bankruptcy - What Supported The Fall Of The Crypto Lender?

InstaForex Analysis InstaForex Analysis 20.07.2022 16:07
Relevance up to 14:00 2022-07-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. At the time of writing, bitcoin has already surpassed the $ 23,800 mark and is certainly going for the $ 24,280 level of resistance. Ether is likewise on the verge of revising its monthly limit. Before discussing the technical picture, however, it is important to note that the increase in optimism on the cryptocurrency market and the American stock market is directly tied to a decline in concerns that the Federal Reserve System will continue to hike interest rates rapidly. The recent impact of the US central bank's tightening of monetary policy on risky assets has been significant, resulting in a decline in the values of cryptocurrencies and the stock market.     The US central bank is anticipated to raise interest rates again at its next monetary policy meeting. However, economists anticipate a less aggressive hike of 75 basis points rather than 100 basis points, as predicted last week following the release of inflation and retail sales data. Any reduction in interest rate hikes will be viewed favorably by the market, especially considering that a large number of assets are now trading at reasonable levels. Optimists anticipate the bitcoin rebound to $ 29,500 by the end of this week. Do not forget, however, that even while the Federal Reserve System dislikes surprises, the remarks of its representatives can greatly chill the market. In addition, it is a positive development that the news of the sharp bankruptcy of huge hedge funds, cryptocurrency managers, and credit organizations, which became public this month, is gradually receding. A recent interview with one of Celsius's former directors revealed that problems have been building for years, but no one has been in a hurry to resolve them. Recent reports indicate that the largest cryptocurrency lender has filed for bankruptcy. According to analysts, many internal failures led to the cryptocurrency company's recent collapse. Several employees portrayed a picture of risk that was excessive, alluding to attempts to manipulate the market for financial gain. In an interview, Timothy Cradle, a former director of Celsius, stated that the primary issue was a failure of risk management. "I believe Celsius's concept of providing loans to organizations in desperate need was brilliant, but no one knew how to handle risks there." The business froze consumer accounts a month ago, citing "extreme market conditions." In June, the company had 1.7 million users and $ 11.8 billion in deposits before filing for bankruptcy against the backdrop of the cryptocurrency market collapse. Celsius secretly leased client-raised funds to hedge funds and other businesses eager to pay even larger profits. Additionally, the business invested in additional high-risk cryptocurrency ventures. As stated previously, the revenue model imploded alongside the price of cryptocurrencies, causing several organizations to freeze their assets and at least three to declare bankruptcy. Eventually, all the "hype and dust" will settle down, and there will be people with money to invest in new cryptocurrency trends and directions, but investors and managers must draw the correct conclusions from everything, although greed, as always, will push them to succumb to temptation – only the strongest will survive.     Regarding Bitcoin's technical prospects, the balance of power has shifted slightly. In the case of a collapse in the trading instrument, speculators will defend the closest support, around $ 22,875, which plays an important role. Its breakdown and consolidation below this range will cause the trading instrument to return to the lows: $ 21,875, $ 21,140, and $ 20,500, which are close to $ 19,880 and $ 19,320. In the event of a further upward reversal, bears will manifest in the region of $ 24,280 closest resistance. Fixing higher will drive the trading instrument to a new ceiling of $ 25,750, allowing investors to relax further. The region of $ 26,780 will be a more distant objective. Ether remains in the limelight, with buyers concentrating on the $ 1,640 resistance level. Only once growth surpasses this level can we anticipate a bigger surge with an upgrade to the maximum of $ 1,740 and the possibility of a medium-term rise. A return to $ 1,740 and consolidation on that level will spur new purchases to update the $ 1,830 resistance, for which a fierce battle will resume. In the event of ETH pressure, bulls will attempt to defend $ 1,470. Based on this range's breakdown, it is prudent to anticipate purchases in the region of $ 1,385 and $ 1,320.   Read more: https://www.instaforex.eu/forex_analysis/316717
Bitcoin Maintains A Steady Bullish Potential

Crypto: Tesla (TSLA) Has Sold 75% Of Its Bitcoins (BTC)!

Alex Kuptsikevich Alex Kuptsikevich 21.07.2022 09:37
How long does forever last? Just over a year, if you're Elon Musk. Tesla has indicated in its quarterly report that it has sold three-quarters of its Bitcoins, citing uncertainty. The past selling does not change the market disposition, as all transactions have already been made. However, investor sentiment is perhaps the main driver in this market, where a mathematical algorithm governs issuance. BTC/USD And this sentiment has been hit at a rather crucial moment. As a result of short-term investors' frustration, BTCUSD failed to break away from its 50-day moving average. The price stabilised at 23000 at the time of writing, hovering around this trendline. Failure to cross this line in a sharp move is a bearish signal. The closest development would be Bitcoin's return to the local support area at 19000. Ethereum Ethereum has lost 5.7% in the past 24 hours, to $1480. Leading altcoins have fallen even further, from -4% (Dogecoin) to 11% (Solana). Total crypto market capitalisation fell 3.6% to $1.03 trillion, according to CoinMarketCap. According to CoinShares, capital inflows into crypto funds last week were $12.2m, with $14.8m coming into the funds on bitcoin shorts. Regular bitcoin products saw a net outflow of $2.6m. The fall of the crypto market was caused by "greed, ignorance and misguided risk management", Galaxy Digital CEO Mike Novogratz said. He noted the collapse of the Terra ecosystem, which was the trigger for the subsequent problems of Celsius Network, Voyager Digital and Three Arrows Capital. A bipartisan bill to regulate the crypto industry in the US could pass as a full-fledged document in 2023, Wyoming Senator Cynthia Lummis said. She said that some lawmakers would need more time to handle the topic. SEC chief Gary Gensler said the crisis in the crypto market would require a reworking of investor protection laws.
Cryptocurrency Market: Wow! Ethereum's The Merge Make The Network Use 99.95% Less Power!

BTC update for July 21,.2022 - Key povot at the price of $22.500 on the test

InstaForex Analysis InstaForex Analysis 21.07.2022 14:05
Relevance up to 13:00 2022-07-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. BTC/USD has been trading downside this morning and it is on the pullback mode. Pay attention on the key pivot support at the price of $22.000. Trading recommendation: Watch for the price action around key pivot level at $22.000 in order to confirm further direction. In case of the downside breakout of the pivot at $22.000, watch for selling opportunities on the rallies with the downside objective at $20.000 In case of the rejection of the pivot support at $22.000, watch for buying opportunities on the intraday pullbacks with the upside objectives at $24.000 and $25.350   Read more: https://www.instaforex.eu/forex_analysis/285465
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Crypto Market: Bitcoin To US Dollar (BTC/USD) - Technical Analysis - 04/08/22

InstaForex Analysis InstaForex Analysis 04.08.2022 08:16
Relevance up to 07:00 2022-08-05 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Bitcoin Valley is a project that aims to strengthen "crypto-tourism" in Honduras. The bitcoin town is located in Santa Lucia, a commune in the south of the country. As part of this initiative, more than 40 local companies recognized bitcoin as a form of payment. Bitcoin Valley is the first bitcoin city in Honduras. The initiative to attract new tourists takes place in Santa Lusia, a small town 20 minutes from the country's capital, Tegucigalpa. The project was jointly developed by Blockchain Honduras, Guatemalan Coincaex cryptocurrency exchange, Honduras University of Technology, Decentral Academy and Santa Lucia Municipality. Cesar Andino, owner of Los Robles shopping plaza in Santa Lucia, will now accept BTC as payment. Last week, he informed the media that he was waiting for the delivery of devices that would allow companies to accept payments in the first cryptocurrency. He also adds: "In Santa Lucia, we will all be involved in this project ... The adoption of bitcoin will open us up to a different market and attract more customers. We need to globalize. We cannot close ourselves off on technology and be left behind when other countries are already doing it." Carlos Leonardo Paguada Velasquez, founder of Blockchain Honduras and representative of the Central American Cryptocurrency Users Association (Acucrip), announced a few days before the official launch of Bitcoin Valley that around 60 companies would be involved in the project. Technical Market Outlook: The BTC/USD pair has hit the 50% Fibonacci retracement level located at $22,679 and the bulls are trying to use this level as a base for a bounce higher. The intraday technical support is seen at $22,507. The momentum is now weak and negative on the H4 time frame chart, so a deeper correction towards the level of $22,000 is possible before the bulls will wake up and start buying again. Please notice, the Bitcoin market keeps moving inside the ascending channel, so the bullish impulsive wave scenario to the upside is now invalidate. If there is no sustained breakout from the channel, the bears might accelerate the sell-off and test the swing low seen at the level of $17,600 again.     Weekly Pivot Points: WR3 - $23,739 WR2 - $23,529 WR1 - $23,421 Weekly Pivot - $23,319 WS1 - $23,211 WS2 - $23,110 WS3 - $22,900 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Read more: https://www.instaforex.eu/forex_analysis/287240
Kucoin: Wrapped Tokens (i.a. WBTC, WETH) Explained

Kucoin: Wrapped Tokens (i.a. WBTC, WETH) Explained

Kucoin Blog Kucoin Blog 05.08.2022 14:02
Table of Contents: What is a wrapped token? How do wrapped tokens work? Examples of wrapped tokens Wrapped tokens on Ethereum Benefits of using wrapped tokens Deposit, Withdraw & Trade Wrapped Tokens Closing thoughts Decentralized finance (DeFi) is rapidly disrupting the financial sector by offering trustless banking. However, it also faces multiple challenges that hinder its mass adoption. At the moment, one of the most significant obstacles is insufficient liquidity.   For instance, Bitcoin (BTC) has the largest market cap in the crypto market - (around $420 billion). However, its blockchain does not support smart contracts and hence does not support DeFi. On the other hand, the Ethereum blockchain supports the highest number of DeFi protocols. Nonetheless, the market cap of its native token, ETH, currently sits at $186 billion.   With DeFi relying on users to provide liquidity, it is imperative to have cross-chain interoperability, a necessity that has proven a tough nut to crack.   Thus far, efforts to make blockchain networks interoperable have seen developers create wrapped tokens. These tokens can function on different blockchain networks, introducing some aspect of cross-chain interoperability.   What is a Wrapped Token? A wrapped token is a cryptocurrency pegged to another cryptocurrency in a 1:1 ratio. Simply put, the price of the wrapped token always equals that of the underlying coin. To this end, wrapped token holders can redeem them for the original asset at any given time.   The wrapped token and the original token run on different blockchains, with the prior running on blockchains that support DeFi. This feature ensures that wrapped tokens create a bridge between incompatible blockchain networks. Consequently, this interoperability helps introduce more liquidity to DeFi protocols, boosting the utility of cryptocurrencies.   How Do Wrapped Tokens Work? To get wrapped tokens, users can create them by wrapping them on their own or purchasing them from centralized or decentralized crypto exchanges.   Wrapping tokens involves finding merchants for a specific token and transferring the tokens to them. The merchants then transfer the digital assets to a custodian who mints their wrapped versions in a 1:1 ratio and stores the underlying tokens in a digital vault.   After putting their wrapped tokens to use, a user can redeem them by requesting the merchant to send the custodian a burning request for a given amount of the tokens. Finally, the custodian destroys the wrapped tokens and returns the original assets to the user.   The custodian records all minting and burning transactions on-chain for transparency, ensuring that wrapped tokens always maintain their 1:1 peg to the underlying asset.   Examples of Wrapped Tokens The need to bridge the Bitcoin and Ethereum networks saw developers team up to create wrapped Bitcoin (wBTC), an ERC-20 version of BTC. wBTC is the most popular wrapped token and is currently the 18th-largest cryptocurrency by capitalization, with a market cap of over $5 billion. Needless to say, wBTC is the largest wrapped token.   The second largest wrapped token is renBTC, an ERC-20 token, which is part of the Ren Protocol. renBTC has a market cap of over $80 million. renBTC serves the same purpose as wBTC.   Wrapped NXM (wNXM) is the third-largest wrapped token by market capitalization. The token allows users to trade NXM, the native token of the Nexus Mutual platform, outside the protocol.   There are over 20 wrapped tokens in the crypto market, and they have a market cap of $5.31 billion.   Wrapped Tokens on Ethereum An interesting example of a wrapped token on Ethereum is wrapped Ethereum (wETH). Although creating a wrapped version of ETH seems to defy logic, it is worth noting ETH arrived before the network introduced the ERC-20 standard for issuing tokens. As such, ETH is not ERC-20 compliant.   To this end, developers created wrapped Ethereum (wETH) to simplify using ETH in DeFi. With the bulk of DeFi activity being on Ethereum, most dApps require users to swap ETH with ERC-20 tokens, and wETH streamlines this process.   Other wrapped tokens on Ethereum include wBTC, wNXM, wDGLD, and wCRO, among other ERC-20-compliant tokens that run on blockchains other than Ethereum.   Benefits of Using Wrapped Tokens Wrapped tokens increase the utility of cryptocurrencies by expanding the number of blockchains they can run on. As utility increases, the value of crypto networks rises, helping to expedite the maturity of the nascent asset class.   Through wrapped tokens, crypto holders can put their digital assets to use by lending them out through DeFi protocols to earn interest. Crypto holders can also stake the tokens and provide the DeFi sector with liquidity. In return, DeFi protocols offer stakers high yields.   Wrapped tokens also help minimize the transaction costs and times. For instance, using a wrapped version of BTC on a scalable blockchain network would significantly cut costs and ensure faster transaction times.   How to Deposit, Withdraw & Trade Wrapped Tokens Deposit and withdrawal functions are available from exchanges that support the wrapped tokens. For instance, KuCoin supports some wrapped tokens deposit and withdrawal, such as WBTC.   ​​In general, a wrapped token may not have a separate trading pair. For the purpose of consolidating liquidity, centralized exchanges will credit tokens based on different blockchains as its native token, similar to USDT on Tron and Ethereum are both credited as USDT. However, there are exceptions like WBTC, which has separate trading pairs like WBTC/BTC.   Closing Thoughts Wrapped tokens play a significant role in creating bridges between various blockchains. Furthermore, this interoperability helps provide DeFi and the broader crypto space with ample liquidity because networks can easily share the amount of capital locked in them.   Although wrapped tokens currently run on the centralized models, which require users to trust merchants and custodians, the future might present completely trustless options, helping the crypto space put the power back in users’ hands.   Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to YouTube Channel>>> Source: What Are Wrapped Tokens and How Do They Work?| KuCoin
Happy CPI-Day, with love, OPEC: S&P500 Slips, Oracle Plummets, and Oil Hits a 10-Month High

Crypto Market: Look At That! Bitcoin (BTC) Vs US Inflation

InstaForex Analysis InstaForex Analysis 05.08.2022 22:36
Relevance up to 12:00 2022-08-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. The market begins to beat against the walls of a narrow trading corridor when traders do not know which news to trust more. Bad or good. Options are signaling that 25,000 is a kind of ceiling for BTCUSD, while 20,000 is a floor. This is due to the high backlog of puts and calls at these levels and suggests that token consolidation is just what the doctor ordered. An increasing number of institutional investors are entering the crypto asset market, new instruments are emerging that are supported by reputable companies. In particular, CME Group announced the introduction of euro-denominated Bitcoin and Ethereum futures into trading practice. According to the exchange, in 2022, the share of Europe in the volume of trade in cryptocurrencies increased from 23% to 28%. In general, the scale of the derivatives market is larger than spot trading, as they allow large players not only to speculate, but also to hedge risks. The collaboration between the world's largest asset manager BlackRock and crypto exchange Coinbase can also be regarded as good news for BTCUSD. At the same time, information about the theft of money from the Solana ecosystem undermines the credibility of the crypto industry. Estimates of the scale of losses vary. Someone talks about 7,900 wallets and $5.2 million, while someone says that $8 million was stolen from only four wallets. Note that not only crypto assets but all financial markets are currently in a tug-of-war. After the Fed canceled direct guidance in July, an indication of how federal funds rates will change at the next FOMC meeting, uncertainty has entered the market. Some investors believe that the Fed, due to the threat of a recession, will begin to slow down monetary restrictions and reduce borrowing costs in 2023. The rest believe the officials of the Committee, who claim that the Central Bank is not going to stop without a complete victory over inflation. Alas, bitcoin has not become a reliable tool for protecting against inflationary risks: despite the rise in consumer prices in the US to 9.1%, the crypto winter in the BTCUSD market continues. Dynamics of BTCUSD and inflation in the USA     In my opinion, the market has decided on the essence of the token and rightly classified it as a risky asset, which is clearly seen from the high correlation of bitcoin with American stock indices. At the same time, the Nasdaq Composite in early August is growing faster than the leader of the cryptocurrency sector. Personally, I attribute this to the bad news about the thefts at Solana.     The further dynamics of BTCUSD will certainly be influenced by the US employment report for July. Stocks are now operating in "bad news from the economy is good news for us" mode, as investors are betting on a slowdown in the Fed's monetary restriction. Technically, there is a Three Indians corrective pattern on the Bitcoin daily chart. Given the existing downward trend, it makes sense to sell BTCUSD on a break of support at 22,400 or a rebound from resistance at 24,000.   Read more: https://www.instaforex.eu/forex_analysis/318190
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

TSLA Sold Bitcoins | Crypto: Theory - What Did Elon Musk (Tesla) Use Crypto For?

InstaForex Analysis InstaForex Analysis 07.08.2022 18:28
Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   On the 4-hour TF, the current picture of bitcoin is also very eloquent and does not raise any questions. There is a clear ascending channel, which has been maintained for several weeks. The cryptocurrency does not even try to leave it and moves strictly inside it. This channel has a rather weak inclination angle and does not imply a strong bitcoin growth. If we try to give the clearest possible definition of the direction of this channel, then the word "lateral" rather than "ascending" will come to mind. However, this channel performs two important functions at once. First, it signals that the correction has not yet been completed. The second is that fixing below will likely signal a new round of the "bearish" trend in bitcoin. Well, until this consolidation has happened, traders must decide whether they want to trade bitcoin with minimal volatility. Recently, Tesla sold off bitcoin coins, and Elon Musk tried to make a good face at a bad game. At first, Elon Musk was considered almost the "godfather" of cryptocurrencies and he expected his companies to integrate crypto assets deeply into their activities. Then later, the more time passed, the clearer it became that Musk used his opportunities to earn. He used cryptocurrencies to make his company, Tesla, sell more electric cars. Many experts wonder why Tesla bought $ 1.5 billion worth of bitcoins. Why did it announce the possibility of a bitcoin payment on March 24 last year if it canceled its decision after a couple of months and sold almost all bitcoins a year later? If you think logically, it turns out that Tesla and Musk made some bets on "digital gold," but it doesn't seem to have worked. Some experts believe that, in this way, Musk was trying to conquer the Chinese market, which was very actively interested in digital assets at that time. Who knew that in the near future the Chinese authorities would completely ban mining and the use of bitcoin on their territory? Remarkably, Musk has never openly stated that he no longer believes in bitcoin or that he needs it for specific purposes. Tesla refused to accept payment in "bitcoins" "because of its low environmental friendliness," but at the same time, Musk continues to use Dogecoin, which is no more environmentally friendly than bitcoin. When selling 75% of the bitcoin coins, Musk said that Tesla needed additional liquidity due to various restrictions in China amid a new coronavirus pandemic. However, if bitcoin is a promising tool, why sell it? Would a company like Tesla, with an owner who is the richest man in the world, not be able to find about $ 1 billion?     In the 4-hour timeframe, the quotes of "bitcoin" continue a weak upward correction. We believe that the fall will resume, but now we need to wait for the consolidation below the ascending channel. The first target for sales will be the level of $ 17,582, which is the last local minimum. Next, the common goal for the two timeframes is $12,426.   Read more: https://www.instaforex.eu/forex_analysis/318230
NZD/USD: Reserve Bank Of New Zealand Is Expected To Hike The Rate By 50bp

Shocking Bitcoin Price Forecast! BTC/USD To Decrease To $16K Level Before Reaching $32K!?

Alex Kuptsikevich Alex Kuptsikevich 08.08.2022 09:35
Market picture Bitcoin has been down 1.2% over the past seven days, trading at $23,600. These are tiny moves by crypto market standards. Indeed, the first cryptocurrency has been dealing with little amplitude over the past week. ETH/USD Ethereum has added the same amount of 2.6% to $1720 in the last 24 hours and seven days. The top altcoins' 7-days performance ranges from -0.11% (Solana) to +19% (Avalanche). The total capitalisation of the crypto market, according to CoinMarketCap, rose 2.5% for the week to $1.1 trillion. The Bitcoin Dominance Index slipped 0.6 percentage points to 40.4% over the same period. The Cryptocurrency Fear and Greed Index fell 3 points for the week to 30 and remains in a state of "fear". Last week Bitcoin made its fourth reversal from decline to rise within a moderately rising range. Investors were probably inspired by the positive dynamics of the stock markets amid recovering risk demand there. Buying forces reversed the trend even before the price reached the lower boundary of the corridor and the 50-day average. The 200-week moving average, in this case, acted as a support line, which we see as a confirmation that the downtrend in cryptocurrencies is over. However, it is worth remembering that a rally rarely follows this. Typically, the market goes through a long period of uncertain and vulnerable growth. Only global events like halving or extreme liquidity injections from central banks or governments into the financial system can kick-start a rally. Background That said, Americans are investing in cryptocurrencies despite the market downturn. According to The Balance's financial website, 39% of US investors have become more invested in cryptocurrencies. American investor and Shark Tank star Kevin O'Leary said he had bought high market capitalisation cryptocurrencies such as Bitcoin and Ethereum despite the slump in his investment portfolio. Bitcoin According to a Cumberland survey of institutional investors, most respondents expect bitcoin to rise to $32K as soon as this year. Before that, however, BTC could fall to $16K. Tesla CEO Elon Musk again spoke out in support of Dogecoin. According to him, the "dogecoin" cryptocurrency network can handle significantly more transactions than the bitcoin network. CME Group, one of the world's leading derivatives players, will launch BTC and ETH futures in euros.
What Could Boost ETH/USD!? Ethereum - The Merge Is Close! US: Shocking Unemployment Rate. In The Past Month S&P 500 And Nasdaq Increased

What Could Boost ETH/USD!? Ethereum - The Merge Is Close! US: Shocking Unemployment Rate. In The Past Month S&P 500 And Nasdaq Increased

Swissquote Bank Swissquote Bank 08.08.2022 10:29
Strong US jobs data revived the Federal Reserve (Fed) hawks on Friday. The US 10-year yield jumped, and the US dollar gained. Gold gave back a part of gains, and US stocks closed in the negative, although the three major US indices closed the first week of August in the positive. S&P 500   Now, the S&P500 is nearing an important technical level near 4180 level, the peak reached in June, and the short-term direction will mostly depend on this week’s inflation data, due Wednesday. Crude oil kicks off the week slightly upbeat, below the $90 level. News that China started mass testing in the Hainan beach resort comes as a warning that China is still not done with its fight against Covid.    Crude Oil Last week, OPEC increased the production outlook by a laughable, and a completely meaningless 100’000 barrels per day. That’s about 0.1% of the global oil output. But the recession fears and the slowing demand will likely continue driving the market; we could see a further downside pressure on oil prices. On corporate front, Coinbase, Disney, Honda, Coupang, and Rivian will be revealing their latest quarterly earnings. On political front, the US Senate passed a landmark tax, climate and health-care bill, which includes tax credits for EV purchases & green energy incentives. In cryptocurrencies, Ethereum prepares for its final test before the Merge update! Watch the full episode to find out more! 0:00 Intro 0:27 Confusingly strong NFP data 3:23 Why the markets rallied in July? 4:54 Inflation is key for direction 5:55 Crude oil under pressure 7:01 Earnings calendar 7:20 US Senate passes bill to support EV & green energy 8:33 Ethereum’s final test before Merge update Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #NFP #Fed #hawks #USD #XAU #Gold #inflation #data #crude #oil #Coinbase #Honda #Coupang #Rivian #earnings #US #climate #bill #Tesla #green #energy #Ethereum #Merge #test #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
Bitcoin Is Showing The Potential For The Further Downside Rotation

Crypto: Could CPI Show (1 BTC) Bitcoin Price The Way!? Cryptocurrency Fear And Greed Index Amounts To 30!

InstaForex Analysis InstaForex Analysis 08.08.2022 10:56
Relevance up to 09:00 2022-08-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Bitcoin continues to convince the market of the full start of the recovery season and closes another trading week on a bullish note above $23k. In total, over the past eigth weeks, the cryptocurrency has managed to close weekly trades with a green candle five times. The dynamics is evident and consist in a gradual reversal of the trend. In addition to the upward price movement, this is also seen by the main metrics that reflect investor sentiment.  Follow us on Feedly   The Fear and Greed Index, which has been below 10 for a record amount of time, made an upward spurt and reached the level of 30. Considering the situation in which the market found itself in June, this is a significant breakthrough, indicating a growing interest in Bitcoin.     This is confirmed by the number of unique addresses in the cryptocurrency network, which reached the million mark last week. Over the weekend, the figure expectedly dipped to 600,000, but given that a month ago, this number of addresses was the peak, the figure is at a high level.     At the same time, there is a continued trend to reduce the volume of Bitcoin daily trading. Over the weekend, the metric dropped to $17 billion, which is low even with the weekend. This is an unhealthy trend that indicates an increase in the activity of addresses that cannot provide a high level of trading activity. As a result, we are seeing a significant increase in the volume of unique addresses and a downward trend in BTC trading. Such a divergence could mean problems at the bottom of the upward trend formed on the Bitcoin chart.     On the daily chart of the cryptocurrency, we see that BTC again briefly became a stablecoin, which is moving around the $23k level. The asset continues to maintain the structure of the upward trend from June 19, which suggests the formation of a local bottom at $17k. It is also important to note that the cryptocurrency exited the $19k–$22k fluctuation range and successfully consolidated above $22.6k, where the key support zone of the new range of $22.6k–$24k lies. And despite the successful consolidation of the asset above $23k, Bitcoin does not show prospects for an upward trend.     On the daily chart of the cryptocurrency, the prerequisites for an upward movement are visible. The RSI index continues its upward movement to the level of 60, which is a positive signal indicating the growth of active buyers. The stochastic oscillator has also formed a bullish crossover and continues to move above the 60 mark. However, it is important to take into account the gradual recovery in trading activity after the weekend and not to pay too much attention to the current upside signals on the charts. As was noted, trading volumes continue to decline and reach local lows. In such a situation, it is not worth hoping for an upward movement, but it is quite possible to restore trading activity on the eve of the working week. August 10 will also be an important factor that slows down the formation of upward impulses. On the said day, the US will announce the results of the July Consumer Price Index (CPI). Forecasts assume that the CPI will be at the level of 8.7%. Accordingly, we can assume that this figure is already considered in the current price of BTC. The cryptocurrency will move depending on the results of the CPI report. If it is higher than expected, a retest or a breakdown of the $22.6k level is quite likely. If the indicator turns out to be lower than expected, we can expect an increase in trading activity and another attempt to break through $24k.   Read more: https://www.instaforex.eu/forex_analysis/318294
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Let's Find Out What's Going On With CME BTC Futures! Striking News About Solana (SOL). The Network Was Hacked!

Crypto.com Accelerate the... Crypto.com Accelerate the... 08.08.2022 11:23
CME Bitcoin futures net-short positions reducing. ETH put-call ratio makes a new low. ETH close to short-term RSI overbought. Chart of the Week: Shorts Out of Fashion Longs are gaining the upper hand with asset managers’ net-long position in CME Bitcoin futures trending upwards and fast approaching the highest level YTD. Leveraged traders appear to also be on the same wavelength, as their net-short position has been reducing since mid-May and is currently at the lowest level YTD.     Leveraged traders are typically hedge funds and various types of money managers, including commodity trading advisors and commodity pool operators. The traders may be engaged in managing and conducting proprietary futures trading, and trading on behalf of speculative clients. The asset manager category consists of institutional investors, including pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional. The dealer category consists of participants typically described as the “sell-side” of the market. These include large banks and dealers in securities, swaps, and other derivatives. The other reportable category consists of traders mostly using markets to hedge business risk, and includes amongst others corporate treasuries. Fund Flow Tracker Aggregated exchange balance for BTC made a new 1-year low, while ETH’s was stable over the past week.         Derivatives Pulse 1-week implied vols dropped during the past week, while other expiries were generally stable. Skews (puts minus calls) continued to fall for BTC but rebounded for ETH over the past week. 1-week implied vol currently stands at 63.1% (vs. 68.4% a week ago) and 91.9% (vs. 115.6% a week ago) for BTC and ETH, respectively. The put-call ratio for ETH extended its downtrend and is at the lowest level during the past 1-year.                     Perpetual futures funding rates remain in positive territory for both BTC and ETH over the past week.         Technically Speaking ETH’s recent strong rally has pushed it closer to short-term overbought levels based on the 14-day Relative Strength Indicator (RSI).     Price Movements         News Highlights Crypto startups raised U.S.$30.3B in 1H 2022, more than the total raised in all of 2021. Chicago Mercantile Exchange (CME) will launch Euro-denominated Bitcoin and Ethereum futures on 29 August, pending regulatory approval. The Solana network was exploited, with funds drained from around 8K wallets, and estimated loss of U.S.$8M. Catalyst Calendar             Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES MARKET PULSE Source: Market Pulse (Week 31, 01/08/2022 – 08/08/2022) (crypto.com)
EM Index Inclusions and Exclusions: India Thrives, Egypt Faces Challenges

Bitcoin (BTC/USD) Seems To Have Recovered. The US Labour Market Data Could Be Treated As A Denial Of Recession

Craig Erlam Craig Erlam 08.08.2022 12:05
A relatively slow start to the week as investors continue to digest Friday’s jobs report and what it means for financial markets just as some optimism was returning. The report itself was strong almost across the board, with participation being the only outlier, but Fed officials will not have been quite so enthused which makes it a tough one for investors to get too excited about. On the one hand, it strengthens the argument that the economy is not really experiencing a recession as the labour market is simply too strong. On the other, it’s also extremely tight and wages are continuing to rise at a fast rate which will make the task of fighting inflation that much harder. With another 75 basis point rate hike next month now the favoured outcome, although a lot can change in that time, it could be a nervy couple of days for investors ahead of Wednesday’s inflation report. It turns out the shift to data-dependency isn’t all it was cracked up to be. Another record Chinese trade surplus but also more lockdowns It’s a relatively quiet day, and the economic calendar continues to look very thin. How traders continue to respond to Friday’s report will be key in how we start the week. Asia is off to a mildly positive start but it’s nothing to write home about. Cities on the Chinese resort island of Hainan have been placed in lockdown following another Covid outbreak, reminding investors once more of the country’s commitment to its zero-Covid policy at all costs. At the same time, Hong Kong has sought to appease residents and the business community by cutting quarantine periods from seven days to three. While still very restrictive compared to much of the world at this point, it was a bolder move than anticipated and highlighted the pressure to return to normal life. Chinese trade data highlighted the struggles of the domestic economy, with imports rising 2.3% annually last month while exports remained surprisingly strong up 18%, delivering another record trade surplus. The numbers aren’t expected to remain quite so favourable in the months ahead as reopening momentum fades, leaving the import numbers a concern. A swift recovery Sentiment across the markets looks a little fragile this morning and yet crypto appears to have shrugged off Friday’s shock much more quickly. Up more than 3% this morning and climbing once more with its sights set on USD 25,000 it seems. The momentum indicators will be fascinating here as the recovery appeared to be losing steam during the last ascent in late July. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Cautious post-jobs report - MarketPulseMarketPulse
Bitcoin Has A Sign Of The Sideways Regime

BTC/USD: Bitcoin Price - Peter Jacimovic (InstaForex) Takes A Technical Look!

InstaForex Analysis InstaForex Analysis 08.08.2022 14:41
Relevance up to 13:00 2022-08-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Technical analysis: BTC/USD has been trading upside this morning and I found the breakout of the downside channel in the background. Trading recommendation: Due to the breakout of the downside channel and rejection of the rising trend-line, I see potential for further upside continuation. Watch for potential buying opportunities on the intraday dips with the upside objectives at $24.500 and $30.300. MACD oscillator is showing new fresh upside momentum, which is good sign for further rally. Key support is set at the price of $22.800     Read more: https://www.instaforex.eu/forex_analysis/287679
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Crypto Always Steal The Show! Bitcoin (BTC) - Technical Indicators And Trading Plan

InstaForex Analysis InstaForex Analysis 08.08.2022 14:47
Relevance up to 13:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Technical outlook: Bitcoin rose to $24,200 intraday on Monday before easing off. The crypto is seen to be trading close to $24,050 and expected to drag towards the $22,200-300 zone before resuming its rally. Bears seem inclined to complete the Up Gartley at around $22,200 before giving in to the bulls again. The bottom line is that prices should stay below the $24,500-600 interim resistance for now. Bitcoin has been producing a counter-trend rally from the $17,500 lows as seen on the daily chart. The counter-trend is expected to reach at least $29,400-500 before terminating, if not further. Please note that the potential remains for a push through the $48,000-500 zone as well, which is the Fibonacci 0.618 retracement of the drop between $69,000 and $17,500. Bitcoin is currently working on a lower-degree upswing between $20,700 and $24,450. The Fibonacci 0.618 retracement of the above swing is seen at around $22,200-300 which is seen as strong support. Prices are expected to drag lower from here and then resume a rally as depicted on the chart here. Potential upside targets are the $29,400-500 levels. Trading plan: Potential rally through $29,400-500 against $17,500 Good luck!   Read more: https://www.instaforex.eu/forex_analysis/287687
Let's Have A Look At S&P 500 (SPX) And (BTC/USD) Bitcoin Price Charts

Let's Have A Look At S&P 500 (SPX) And (BTC/USD) Bitcoin Price Charts

Monica Kingsley Monica Kingsley 08.08.2022 08:37
S&P 500 bulls made a good run, but didn‘t deal with the bearish outcome looming, The renewed tightening bets spurred by strong headline NFPs figure, will take their toll on risk-on assets that had been driving Friday‘s run. Bets on another 75bp hike in Sep have increased dramatically, practically proving Daly or Kashkari right in that the Fed isn‘t done yet or even close to the Fed funds rate to really get inflation down. While they claim that 2% is doable and soft landing within reach, the progression from 9% downwards just doesn‘t go fast like that. At best (repeating myself for months here), they would get to 5-6% CPI, which means a tough Sep and one more FOMC still this year. Combined with balnce sheet shrinking projections, that would take a great toll on the real economy – one that is being softened by the still very expansive fiscal policy. Let‘s look around the world (apart from the troubles in Europe and Asia such as shown in JPY weakness), many other central banks are tightening, Latin America is also tightening. It‘s not only UK and the implications discussed on Friday: (…) Let‘s have a look at yesterday‘s Bank of England moves, kind of foreshadowing what‘s reasonable to expect from the Fed. In the UK, the prospect of entering recession Q4 2022 amd remaining in it for more than a couple of quarters, is being acknowledged. The central bank though intends to keep tightening anyway, preferring to take on inflation after it ran out of control longer they publicly anticipated. Meanwhile in the States, unemployment claims have edged higher – indicative of growing softness in the labor market. Long-dated Treasuries continue rising as is appropriate in these conditions of economic slowdown slowly gathering pace. Similarly to inflation expectations, they‘re not yet taking the Fed‘s hawkish rhetoric absolutely seriously unlike commodity prices that are at best carving out a bullish divergence (still in the making, therefore without implications yet). Precious metals appear farther along the route of acknowledging the upcoming stagflationary reality as I continue looking for inflation to remain in the stubbornly high 5-6% range no matter the Fed‘s actions over the next 3 FOMC meetings at least. Obviously, the hotter the underlying markets, the more tightening has to be done, and that‘s extra headwind for the markets, and one making the Fed pivot a bit more elusive. The key thing that has changed from the above, is the turn in yields – Treasuries would have a harder time rising now, but given that I expect better CPI on Wednesday (oil is down and hasn‘t bottomed yet etc), yields should retreat in what I look to be a positive market reaction – one of hoping that the Fed wouldn‘t tighten that much as is feared today they would. This wouldn‘t however save the stock market bulls. Consider though as well where the Fed funds rate is now, and how far above 3% Powell can take it. He will try, sure, but even 4% in our debt based economy would prove bridge too far when it comes to any soft landing (stating the very obvious). Back during the last successful one (mid 1990s), we were going through genuinely positive tech revolution that helped cushion restrictive monetary policy – these macro implications for productivity growth don‘t apply now. To feel the daily pulse, let‘s move right into the charts (all courtesy of www.stockcharts.com) – today‘s full scale article features good 6 ones, with more thoughts for premium subscribers. S&P 500 and Nasdaq Outlook S&P 500 is clinging by the finernails, and the only question remains whether we have a few dozen points still to go on the upside to reach even more excessive bullishness, or whether the slow grind lower is assuming the reins from here. The bull trap is almost complete. Credit Markets HYG is going to attract a sell in the not too distant future – more so than it did on Friday. The opening gap was more than half closed, but this isn‘t going to last. All it takes to bring junk bonds down, is more conviction about the Fed‘s hawkish path ahead. Bitcoin and Ethereum Cryptos are slightly up, which bodes well for risk taking. Not expecting huge gains today here or in SPX, but a reversal of Friday‘s setback.
Bitcoin Has A Sign Of The Sideways Regime

Crypto! It's Incredible! Look At (BTC/USD) Bitcoin Price!

InstaForex Analysis InstaForex Analysis 09.08.2022 08:23
Relevance up to 13:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Bitcoin began Thursday morning with a spectacular 2.5% rise, and by the time of writing, its value is balanced at around $24,100. According to digital asset price tracking website CoinMarketCap, over the past 24 hours, the lowest value of bitcoin reached $22,930, and the high was $23,359.     At the same time, the last seven-day period turned out to be extremely unsuccessful for the BTC, unlike the previous two weeks of growth. The main coin showed low activity and weak bullish momentum during the seven previous trading sessions. All this time, the value of bitcoin has been balancing near the $23,000 mark, trying in every possible way to soar towards the next round level, but it has not been able to make a significant breakthrough. As a result, at the close of the session on Sunday, the coin was trading around $22,973 with an intra-weekly drop of 3.13%. The main reason for bitcoin's negative dynamics last week, experts call the suspension of the growth of US stock indices. So, only by the end of Friday, the stock indicators of the S&P500 and NASDAQ sank by 0.16% and 0.5%, respectively. By the way, since the beginning of 2022, analysts have increasingly begun to emphasize the high level of correlation between the US securities market and virtual assets against the background of intense expectation by both of the consequences of the geopolitical conflict in eastern Europe and the next steps of the US Federal Reserve. Earlier, analysts of the investment company Arcane Research have already stated that the correlation of BTC and technology securities has peaked since July 2020. Such close parallels of bitcoin with US stock indicators, in particular with the NASDAQ index, make investors increasingly doubt the ability of cryptocurrencies to become a means of protection against inflation. Altcoin Market Bitcoin's main competitor, the Ethereum altcoin, started Monday's trading session with a sideways movement and by the time of writing the material is balancing at $1,711. Over the past day, the coin has lost about 0.9% of its value. At the same time, last July turned out to be a month of permanent growth for altcoin, when its price rose by more than 50% – to the highest levels since mid-June - above $1,700. The main catalyst for the July rise in the ETH price was a message from one of the project developers that the Ethereum blockchain could move to a new Proof-of-Stake algorithm that does not require the participation of miners, as early as mid-September. As for cryptocurrencies from the top 10 by capitalization, over the past day, all coins, except for a number of stablecoins, were traded in the green zone. At the same time, the Solana digital asset showed the highest results here (+5.33%). During the past week, all cryptocurrencies from the top ten, except for BNB and Polkadot coins, also lost in price. At the same time, the best results were recorded for the BNB coin (+6.65%), and the worst – for Solana (-9%). The spectacular fall in the value of Solana happened due to the fact that fraudsters gained access to the assets of users of this network. Later, the Solana team announced the theft of funds from users of the project. According to the world's largest aggregator of data on virtual assets CoinGecko, over the past day among the top 100 most capitalized digital assets, the Oasis Network coin topped the list of leaders (+24%), and Decred (-10.3%) took the first place in the drop list. According to the results of the past week, the Flow coin (+52.0%) showed the best results among the hundreds of the strongest cryptocurrencies, and the worst – DeFiChain (-16.4%). According to the CoinGecko portal, over the past seven days, the total capitalization of the cryptocurrency market has exceeded $ 1.1 trillion, and the share of VTS has sunk to 40.4%. Forecasts of Crypto Experts The past July was the best for bitcoin in the last nine months. According to its results, the coin grew by 27% and closed trading at around $23,800. The first cryptocurrency showed a higher rate of increase according to the results of July only in 2012. Traditionally, August is considered not the most favorable month for bitcoin. Over the past 11 years, the asset has completed its growth only in five cases and decreased six times. At the same time, the average increase was 26%, and the decrease was 15%. If the digital asset chooses the first scenario in August, it can end the month at $30,000, if the second one is about $20,000. By the way, pessimistic sentiments can also be seen in today's forecasts of experts regarding the future of the cryptocurrency market for August. The main factors of pressure on asset quotes in the current situation, they call conflicts in the geopolitical arena (the Taiwan crisis, the aggravation of the situation in Serbia and the armed confrontation between Russia and Ukraine), the consequences of the struggle of world central banks with record inflation, the technical recession in America and the high correlation of the bitcoin price with the S&P 500 stock index. Experts also call the permanent departure of serious market players who again choose investments in gold and other precious metals a significant factor of negative impact on cryptocurrencies. The only catalyst for the growth of the value of digital assets in the long term, cryptanalysts call the elections to the US House of Representatives, scheduled for November 8. Taking into account all of the above, the general forecast for bitcoin for August is extremely negative, while many experts do not exclude the risks of updating the price lows with the first cryptocurrency and bitcoin falling by 60-70%. If the main virtual coin breaks the $15,000 mark, analysts are sure, the entire cryptocurrency industry will begin to collapse. This, in turn, will cause a serious panic in the market and the flight of large players from virtual assets. As for individual scenarios of cryptanalysts regarding the near future of bitcoin and the digital asset market as a whole, on the eve of the head of the investment company SkyBridge Capital Anthony Scaramucci said that the worst part of the bearish trend was left behind. The peak of this phenomenon, the expert believes, happened amid the collapse of the digital asset market caused by the bankruptcy of the Three Arrows, Celsius and Voyager cryptocurrency funds. According to Scaramucci, in the short term, the value of bitcoin is unlikely to fall below the lowest level of $17,600. Recall that such a price indicator was reached on July 16 by the BTC quotes for the first time since November 2020, when the coin began to cost less than $18,000. Later, the head of SkyBridge added that the fair market value of the first cryptocurrency is about $40,000. However, according to the American financier, in conditions of high volatility of the BTC and with an unstable macroeconomic situation, the cryptocurrency will need about 4-5 years to fully enter the phase of active growth. Previously, the popular crypto investor Bob Lucas predicted a "real crypto winter" in the digital asset market in 2026. At the same time, Lucas is confident that before the next collapse of the virtual coin market, the bitcoin price will update the historical high. A recent report by the investment company Arcane Research says that, if BTC holds the key level of $20,700, its value will soon be fixed in the range of $27,000-28,000. The key factors influencing the behavior of bitcoin in the future, according to the company's analysts, will be the dynamics of the US stock market, as well as the monetary policy of the Fed. If the exchanges of America continue to decline, Arcane Research claims, the downward trend of bitcoin will continue.   Read more: https://www.instaforex.eu/forex_analysis/318328
Crypto: Bitcoin Network Shocks Again! 2,051 Adresess Are Associated With 1K BTC (Or More) Each!

Crypto: Bitcoin Network Shocks Again! 2,051 Adresess Are Associated With 1K BTC (Or More) Each!

FXStreet News FXStreet News 08.08.2022 16:38
Bitcoin price reaffirms a triangle breakout to $28,000 after surpassing $24,000. Whales holding 1,000 and more coins grow to 2,051 from 2,040 in a week. Bitcoin price is required to make a daily close above $24,000 to reinforce the move to $28,000. Bitcoin price kicked off the new week on a positive note, climbing 4.50% to trade at $24,086 at the time of writing. The larger cryptocurrency market appears to have flipped green, led by Avalanche’s 11.30% gains, Polkadot’s 9.20%, Solana’s 7.30% and Ethereum’s 6.50%. As for Bitcoin price, fundamentals are growing stronger by the day, thus becoming the main bear market rally drivers. Bitcoin Whales Return With A Bang There are 2,051 addresses holding 1,000 and above BTC. This number has increased by 0.54% from 2,040 addresses on August 2. A whale is any Bitcoin address containing not less than 1,000 BTC. The actual owners of these wallets remain largely unknown due to the pseudonymous nature of the blockchain network. Bitcoin Supply Distribution Bitcoin price tends to increase in value when whales buy in droves; the opposite also holds water. As observed in the chart above, Bitcoin price has been unable to sustain any bullish reversal attempts from the beginning of the year because whales increasingly sold, adding to the selling pressure. Bitcoin price settled above $24,000 as part of the plan to close the gap to $28,000 if large volume investors keep their buying activities intact. A closer glance at the technical outlook for Bitcoin price shows the possibility of a bullish daily candle forming, which will go a long way to affirm the buyers’ newly reclaimed control. After testing the ascending triangle’s hypotenuse, Bitcoin price retriggered the potential for a 22.36% breakout to $28,000. Including the step above $24,000, the flagship cryptocurrency is already quite close to hitting the upside target. Bitcoin price will only need to move another 15% to brush shoulders with $28,000. BTC/USD Daily Chart Similarly, the Moving Average Convergence Divergence (MACD) position on the daily chart further tips the scale in the bulls’ favor. As long as the MACD keeps moving higher above the mean line, the path with the least resistance will be to the upside. Traders should keenly follow the overlap of the 12-day Exponential Moving Average (EMA) and the 26-day EMA to quickly and accurately time price reversal.
The Commodities Feed: Iranian Oil Flows Rise Amid Market Headwinds, Natural Gas Volatility Ahead

Could 1 BTC Go Above $700K!? Cryptocurrency: What A Jump! (BTC/USD) Bitcoin Price Went Up! (ETH) Ethereum Co-Founder - Vitalik Buterin Comments On The Potential Effects Of Switching To PoS!

Alex Kuptsikevich Alex Kuptsikevich 09.08.2022 09:22
Market picture Bitcoin rose 3.5% to $24,100 on Monday and retreated slightly from the highs to 23900 on Tuesday morning. Ethereum is trading near $1780, adding 3.5% in the last 24 hours. Top altcoins have gained between 0.2% (BNB) and 5% (Polkadot). Crypto Market Capitalisation The total capitalisation of the crypto market, according to CoinMarketCap, rose 1.9% to $1.13 trillion overnight. Bitcoin on Monday tested the area of the previous month's highs in the area of $24K, from where it had previously rolled back twice. Sellers' pressure increased somewhat near the earlier highs following a moderate correction in stock indices, but the general consolidation trend with an upward bias persists for now. News background Ethereum co-founder Vitalik Buterin said the network's impending move to PoS in September could boost the popularity of cryptocurrencies for everyday payments. According to him, the popularity of payments has fallen since 2018 due to high transaction fees. Bitcoin Price Reaching $773K? Last week, BlackRock entered into a partnership with Coinbase, under which BlackRock customers will be able to trade cryptocurrencies. Famous online analyst InvestAnswers believes the inflow of cryptocurrency funds from this investment company's clients could push the BTC price to $773K. According to Messari, investments in the crypto industry reached $30.3bn in the first half of 2022, more than the entire year 2021. According to Coin ATM Radar, around 15 cryptocurrencies are set up worldwide daily, with the total number exceeding 39K. Singapore-based cryptocurrency lending platform Hodlnaut suspended withdrawals and other crypto-asset transactions, saying it needed to "focus on stabilising liquidity". The World Gold Council said integrating blockchain into the gold industry's production processes could increase transaction transparency and consumer confidence.
Doge (DOGE) Vs Bitcoin (BTC) - Elon Musk Comments!

Doge (DOGE) Vs Bitcoin (BTC) - Elon Musk Comments!

InstaForex Analysis InstaForex Analysis 09.08.2022 10:11
Relevance up to 06:00 2022-08-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   In the 4-hour time frame, BTC quotes hit $24,350 yesterday. So, the price has already reached this mark three times. It may seem that bitcoin rose steeply yesterday, but it is not entirely so. It gained just $1,500. According to the chart, the digital asset has been trading in the sideways channel for almost a month. The price barely showed growth within the channel. Moreover, BTC did not even try to consolidate above or even below it. Therefore, the price is likely to pull back from $24,350. At the same time, should BTC break through the mark, growth will last for several weeks. It will hardly be stronger than in recent weeks. Still, it could happen. As for a possible fall, we believe it will definitely take place if the price consolidates below the ascending channel in the 4-hour time frame. Its lower limit is now seen at around $20,500. The entire crypto market is now waiting for what is going to happen next. Clearly, if the bearish trend stopped, digital gold would already skyrocket. Instead, we see its sluggish attempts to enter a correction. Meanwhile, let's turn to Elon Musk's recent comment. Thus, according to Tesla CEO, Dogecoin is better than bitcoin because its transactions are completed in 60 seconds, while bitcoin transactions take approximately 10 minutes. "I'm mainly supporting Doge frankly because I think Doge has the memes and dogs and it seems to have a sense of humor and doesn't take himself too seriously. I think actually weirdly even though Doge was just designed to be like this ridiculous joke currency, but the actual total transactional throughput capability of Doge is much higher than bitcoin," the billionaire said. He also emphasized that the Dogecoin network allows 5 billion coins to be created annually, unlike Bitcoin with its maximum supply of 21 million coins. In his view, this makes Dogecoin a transactional currency. It is unclear why Elon Musk sees it as a good thing. After all, Bitcoin's biggest advantage is that there can be no more than 21 million coins created. So, it will not be subject to inflation or depreciation due to additional emissions. Yet, Musk always has his own point of view or perhaps an irresistible desire to promote Doge.     In the 4-hour time frame, BTC is still retracing up slightly. The price is likely to descend in the case of consolidation below the ascending channel. The first bearish target stands at $17,582, in line with the latest swing low. The common target for two time frames is seen at $12,426.   Read more: https://www.instaforex.eu/forex_analysis/318392
Bitcoin Maintains A Steady Bullish Potential

Crypto: Bitcoin To US Dollar - Technical Analysis - 09/08/22 | BTC/USD

InstaForex Analysis InstaForex Analysis 09.08.2022 10:15
Relevance up to 08:00 2022-08-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Technical analysis:   BTC/USD has been trading downside today but I see potential for the bull flag pattern, which is sign of possible upside continuation. Trading recommendation: Due to thebull flag pattern in creation, I see potential for further rally. Watch for potential buying opportunities on the intraday dips with the upside objective at $24.550. Stochastic is showing overbought condition but with no evidence for the reversal. Key support is set at the price of $23.420 Read more: https://www.instaforex.eu/forex_analysis/287792
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

BTC: How Could Certain CPI Forecasts Affect Bitcoin Price?

InstaForex Analysis InstaForex Analysis 09.08.2022 10:22
Relevance up to 08:00 2022-08-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Another trading week has started promisingly for Bitcoin and the cryptocurrency market. Most of the coins moved in the green zone, and the market capitalization reached the level of $1.13 trillion. Trading activity is gradually recovering, and the upward movement of the major cryptocurrencies gives confidence to the entire market. Bitcoin bulls finally consolidated above the $23k level, which gave the market a signal for further growth. However, above the $23k level, things are not going well for the main cryptocurrency.     The coin re-formed a strong green candle that tested the $24.3k level. However, the price was subsequently squeezed below $24k amid increased selling pressure. The $24k level has been tested six times in the last three weeks but has not been broken. This indicates serious bearish volumes near the round mark and local weakness of the bulls. Despite the recovery in trading activity after the opening of the American session, trading volumes are still insufficient to hold the $24k level and build on the bullish success. As of August 9, this is influenced by three factors, two of which are negative.     The first is to publish reports on the movement of the CPI. Given the macroeconomic and geopolitical situation, the consumer price index is the main guide for investors. It allows you to determine the future policy of the Fed and, therefore, the direction of the trend of stock indices and cryptocurrencies. And although Fed Chairman Jerome Powell said that the regulator will proceed from facts, not forecasts, the market focuses on forecasts. According to the latest data, the CPI is expected at 8.7%, and the current price movement is already adjusted to these expectations. Based on this, Bitcoin can expect a flat trend if the forecasts come true, a retest of the $20k level if the CPI turns out to be higher than the forecasts, and a probable breakdown of $24k if the index falls above expectations.     In anticipation of the publication of data on inflation, trading activity in the market has been reduced to a minimum, especially by institutional investors. This significantly limits the upward potential of the Bitcoin price. And here we are approaching the second negative factor, which contributes to increased pressure on BTC/USD quotes. We are talking about miners who continue to suffer losses following the results of the current bear market. Mining profitability has been falling since March. July was no exception, and BTC mining companies dropped another 9%. In search of available liquidity, miners are selling off their bitcoin holdings, putting pressure on the price and complicating the upward move, including a $24k retest.     The third factor in the weak upward movement in the price of Bitcoin is cumulative. In recent weeks, the asset has been growing on positive news, as can be seen from the impulsive bullish jerks and the subsequent local correction with the main support lines being held. There was also an increase in the volume of active addresses with a non-zero balance. This indicator rose to 2.7 million, which is a signal for the growth of bullish sentiment.     But at the same time, trading volumes did not grow during the day, which indicates a certain overheating of the asset and a lack of liquidity for growth. Therefore, Bitcoin needs consolidation to stabilize the ratio of addresses and trading volumes. The only thing that will help speed up this process is low volatility and macroeconomic calm.     Technical indicators indicate that Bitcoin has been in a consolidation for the last week. The asset consistently moves within the $22.5k–$24k range with clear bullish signals (retesting $24k six times). The relative strength index is moving along the 40–60 area, a positive sign indicating the stabilization of the metric and the preservation of buying activity. Stochastic and MACD have also become flat, which indicates the need for consolidation before the next breakout. Most likely, a breakthrough will occur in the coming days due to the positive dynamics of the CPI. However, as we saw in June, inflation is an unpredictable thing.   Read more: https://www.instaforex.eu/forex_analysis/318412
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

BTC/USD Like Stocks!? Bitcoin Is Awaiting Inflation

Craig Erlam Craig Erlam 09.08.2022 13:31
Equity markets are lacking any real direction in Asia and that appears to be carrying into the European session as well. Europe is seeing minor losses on the open, offsetting some of the small gains in choppy trade at the start of the week. This follows a similarly choppy session in the US on Monday as the Dow flirted with exiting correction territory and the Nasdaq bear market territory. We may have reached a point in which investors need to decide whether they truly buy into the recovery/no recession narrative or not. That is what appears to have fueled the recovery we’ve seen in equity markets despite the fact that inflation hasn’t even started falling, central banks are still hiking aggressively and recession is on the horizon for many. It’s time to decide whether this is just a substantial bear market rally or a genuine view that the economic outlook is far less downbeat than many fear. If equity markets are going to push on from here, it must be based on the latter which I’m sure many would welcome but perhaps more through hope than expectation. Don’t get me wrong, the US in particular still has plenty of reason to be encouraged. The data on Friday highlighted once more just how hot the labour market still is and the consumer is still in a very healthy position. But there are pockets of weakness as well and unless inflation starts to subside, those areas of strength will start to crack. The inflation data on Wednesday could effectively set the mood for the rest of the summer. That seems quite dramatic but if we fail to see a drop in the headline rate, considering the acceleration we’re expected to see in the core, it could really take the wind out of the sails of stock markets as it would be very difficult for the Fed to then hike by anything less than 75 basis points in September. Of course, there will be one further labour market and inflation report before the next meeting which will also have a big role to play. But the July data will be very difficult to ignore. If the rally is going to continue, we may need to see a deceleration in the headline rate at a minimum, perhaps even a surprise decline at the core level as well. It’s no wonder we’re seeing so much caution this week. Bitcoin rallies losing momentum Bitcoin is not generating the same momentum in its rallies in recent weeks, as it continues to run into strong resistance on approach to $25,000. In much the same way that US stock markets are lingering around potentially important levels ahead of the inflation data, we could see bitcoin behaving in a similar manner. A weaker inflation reading could be the catalyst it needs to break $25,000 and set its sights on the $28,000-32,000 region once more, where it hasn’t traded since the early part of the summer. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Lacking direction - MarketPulseMarketPulse
Talking S&P 500, Nasdaq, Gold, Bitcoin And More - 09/08/22

Talking S&P 500, Nasdaq, Gold, Bitcoin And More - 09/08/22

Monica Kingsley Monica Kingsley 09.08.2022 16:00
S&P 500 bulls were clearly rejected, and it‘s highly questionable whether they would make another run. I doubt they would. And even if, it‘s bound to get rejected as none of the bearish fundamental reasoning ceased to apply, and it‘s getting reflected in the chart technicals as well. As stated yesterday: (…) The renewed tightening bets spurred by strong headline NFPs figure, will take their toll on risk-on assets that had been driving Friday‘s run. Bets on another 75bp hike in Sep have increased dramatically, practically proving Daly or Kashkari right in that the Fed isn‘t done yet or even close to the Fed funds rate to really get inflation down. While they claim that 2% is doable and soft landing within reach, the progression from 9% downwards just doesn‘t go fast like that. At best (repeating myself for months here), they would get to 5-6% CPI, which means a tough Sep and one more FOMC still this year. Combined with balnce sheet shrinking projections, that would take a great toll on the real economy – one that is being softened by the still very expansive fiscal policy. Given tomorrow‘s CPI that‘s likely to come in better than the markets fear it would (i.e. in support of the inflation has peaked thesis), the room for disappointment in inflation trades is there, and the hopes that the Fed might not get as aggressive on a better CPI figure, wouldn‘t balance that out in my view. Here comes a fitting question just in that allows me to develop these thoughts further to the benefit of the whole audience: Q: CPI wednesday will certainly show much lower numbers than previously (mainly because oil was recently much cheaper than in May, June). FED has proven to be rather readily dovish in such events. Investors will see the US companies and the US technology sector as the safe haven. Because elsewhere in the world (mainly in politically and economically weak Europe) is a mess. US as safe-heaven was proven by recent Apple and Amazon earnings and also by recently approved US government stimulus for micro-chip / semiconductor production. Isn't this environment rather bullish for US equities especially to the near future ?? Outflow of money from Europe into strong and safe US. A: I doubt the Fed would react dovishly to softening inflation as they have to take on the pesky inflation expectations (it was a key lesson of the 1970s when they didn‘t). It gives them optically a better chance at taking inflation down fast – and the markets would wake up to their dovish perception mistake, should they make it in the first place. The fiscal stimulus is though being faded in the stock market, it‘s closer to the case of sell the news than anything else. The money flows are going to be selective about what assets they would lift, and odds are it wouldn‘t be parked in tech for too long if Treasuries stop revolting against the Fed‘s rate raising. Such a time point would come over the nearest months ahead, but still I am not counting on any giant Nasdaq run, or rather any run to speak of (no matter the degree of Treasuries‘ next move). To feel the daily pulse, let‘s move right into the charts (all courtesy of www.stockcharts.com) – today‘s full scale article features good 6 ones, which I am unlocking today in full so that you get a better the regular care premium subscribers get, especially before tomorrow‘s inflation data. S&P 500 and Nasdaq Outlook S&P 500 is turning down, and Friday‘s signal is getting repeated – i.e. getting stronger. The daily indicators have also deteriorated, but the volume and sectoral internals message is the most important here. Credit Markets HYG indeed attracted sell – and the reversal to the downside needs a confirmation today in terms of rising volume and daily close anywhere in the Friday‘s daily range. Gold, Silver and Miners Precious metals want to turn up, and miners are at least on a daily basis following. Echoing yesterday‘s premium thoughts, they aren‘t selling too hard on the turn towards anticipating tougher tightening ahead. With hikes to be paused after Sep for a while, the metals would have an easier time before that FOMC day in Sep. Next week‘s CPI will have a short-term effect only – the consequences of recognizing inflation as sticky no matter what the Fed has done already, would be greater. This moment awaits still. Crude Oil Crude oil‘s rebound isn‘t yet turning the tide, and the approaching seasonality spells trouble ahead. I‘m still leaning towards the $88 support slowly giving way as $85 approach comes next – we may land in the low 80s really before rebounding early November. Copper Copper‘s short-term bullish move is encouraging, but the vulnerability to the hawkish Fed moves and rhetoric remains – it would probably play out after the CPI only, which applies also to oil. Bitcoin and Ethereum Cryptos are clearly reversing, and that‘s a good sign for those betting on a bearish resolution of tomrorow‘s inflation data overall.
Changing correlation of Bitcoin and US stocks. Brazil: Lower house of Congress approved crypto regulation bill

Technical Analysis: Bitcoin To US Dollar - 10/08/22

InstaForex Analysis InstaForex Analysis 10.08.2022 13:58
Relevance up to 13:00 2022-08-11 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Technical analysis: BTC/USD has been trading upside this morning and I see potential for further rally. Trading recommendation: Due to the bullish momentum divergence in the background and the upside reaction, I see further rally. Watch for potential buying opportunities on the intraday dips with the upside objectives at $23.269 and $23.900. MACD oscillator is showing decreasing in the downside momentum, which is good sign for further rally. Key support is set at the price of $22.800 Read more: https://www.instaforex.eu/forex_analysis/288027   Read more: https://www.instaforex.eu/forex_analysis/288027
Tokyo Raises Concerns Over Yen's Depreciation, Considers Intervention

Is The Rise Possible!? BTC/USD: What Can We Expect From Bitcoin (BTC) Price?

InstaForex Analysis InstaForex Analysis 11.08.2022 10:35
Relevance up to 09:00 2022-08-12 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. The price of Bitcoin edged higher after retesting the near-term downside obstacles and it seems determined to approach and reach new highs. BTC/USD ignored strong resistance levels signaling more gains. It has increased by 8.60% from yesterday's low of 22,668 to 24,619 today's high. In the last 24 hours, bitcoin is up by 7.00% and by 6.43% in the previous reporting period. Technically, the cryptocurrency signaled that the downside could be over and that the price could develop a larger rebound. Bitcoin Strong Buyers!     As you can see on the H1 chart, Bitcoin retested 22,665 and the descending pitchfork's upper median line (uml) before resuming its leg higher. It has retested 23,511 as well and now it has managed to jump above the 24,280 historical level and above the R2 (24,318) signaling strong buyers and potential further growth. Consolidating above the broken upside obstacles, testing and retesting the broken levels could bring new long opportunities. BTC/USD Outlook! Breaking above 24,280 signals further growth towards the R3 (24,995) and up to the 25,401 static resistance. A minor consolidation above the R2 could bring new long opportunities. A larger growth could be activated after making a valid breakout through the 25,401 key level.   Read more: https://www.instaforex.eu/forex_analysis/288163
Crypto Dominance Structure Changes. (ETH) Ethereum Moves Market As The Merge Is Coming

Crypto Dominance Structure Changes. (ETH) Ethereum Moves Market As The Merge Is Coming

Alex Kuptsikevich Alex Kuptsikevich 11.08.2022 09:43
Bitcoin has added 7.4% to $24.6K in the last 24 hours. It's not the magnitude of the move that draws attention but rather the ability to rewrite previous local highs. Ethereum has gained 13% to $1900 in the same time frame. Top altcoins add between 4.7% (BNB) and 13.4% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, rose 7.4% to $1.16 trillion overnight. Bitcoin jumped on Wednesday, and stock indices on US inflation data showed a more robust cooling, fuelling speculation that the Fed will soon soften its tone. On Thursday morning, BTCUSD, after three weeks of unsuccessful attempts, managed to gain ground above $24K and quickly moved into the $24.5K area. These are the highest levels since mid-June when bitcoin literally crashed. Now up to $30K, there are no significant technical obstacles. On the other hand, the benchmark crypto pair is still moving within a moderate upward trend, with the upper boundary now at $25.5K. Moving within this range, BTCUSD will be at 30K only by October. Ethereum is showing much more resurgence right now. Expectations of an imminent switch to proof-of-stake are a significant market driver. As a result, ETHUSD has already recouped all losses since June, recovering to previous consolidation levels. Ether's dominance has recovered to 19.9%. The second most popular cryptocurrency has not had a sustainable share since 2017, but last year we saw a steady climb towards these levels due to the increased use of Ether in other projects. The next significant milestone for ETHUSD looks to be the $2300 area, where the 200-day moving average and the lows of the dips earlier in the year are concentrated. We also note the drop in the bitcoin dominance index to 40%. For the past five years, a dip under this mark has often been followed by aggressive profit-taking in altcoins, whether we are in bull or bear markets. In our case, it may not mean the impending collapse of altcoins but rather an acceleration of BTC's growth.
ByBit talks trading bots. What are they? How can they help?

Crypto: Technical Analysis Of Bitcoin Price (BTC/USD) - 11/08/22

InstaForex Analysis InstaForex Analysis 11.08.2022 13:43
Relevance up to 12:00 2022-08-12 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Technical analysis: BTC/USD - Technical analysis: Bitcoin Price BTC has been trading upside as I expected and the price reached both upside targets at $23.270 and $23.950. Anyway, I still see potential for further rally. Trading recommendation: Due to the strong upside momentum in the background and the weak pullbacks, I see potential for further upside continuation. Watch for buying opportunities on the intraday dips with the upside objective at $25.450. MACD oscillator is showing strong upside reading and no evidence for the reversal, which is sign that buyers are in control. Key support is set at the price of $24.200 Read more: https://www.instaforex.eu/forex_analysis/288193   Read more: https://www.instaforex.eu/forex_analysis/288193
ByBit talks trading bots. What are they? How can they help?

Crypto: As Expected! Bitcoin Price Rose After The Release Of The US CPI!

InstaForex Analysis InstaForex Analysis 11.08.2022 13:37
Relevance up to 10:00 2022-08-12 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Bitcoin reacted to the CPI print by climbing 5.1% to $24,180 After the US Consumer Price Index (CPI) rose 8.5% year-on-year, cryptocurrency prices surged. While inflation has remained at one of its highest levels in decades, the actual data came in below the expected 8.7%, prompting traders to return to the markets. Bitcoin reacted to the CPI print by climbing 5.1% to $24,180, where it hit a solid bearish resistance wall that remains the last significant barrier ahead of $28,000. If today it closes higher, it will go further. Traders breathed a sigh of relief after the release, which came in 0.2% below expectations as it could potentially lead to a less aggressive Fed rate hike schedule. Federal Open Market Committee (FOMC) At the last two meetings of the Federal Open Market Committee (FOMC), the central bank has raised interest rates by 75 basis points each time, and yesterday's decline in the CPI compared to the previous month was the first evidence that the actions taken by the central bank are beginning to bear fruit. The positive reaction to the lower-than-expected CPI was immediate, with prices in the cryptocurrency market and traditional markets rising following the news. And growth will likely continue, at least next week. What's Ahead Of Bitcoin? What will happen next with Bitcoin, the cryptocurrency market, and global financial markets, in general, largely depends on the further actions of the Fed. In the broader altcoin market, there has been an even more pronounced reaction following the release of the CPI yesterday. Several of the top 200 coins posted double-digit gains, while the top altcoin, Ether (ETH), gained almost 9%. Crypto Market Capitalisation The total market capitalization of cryptocurrencies is currently at $1.14 trillion, and the Bitcoin dominance rate is 40.3%.   Read more: https://www.instaforex.eu/forex_analysis/318692
EURUSD Short-Term Trend: Bearish Channel Persists with Potential Bottom Ahead

S&P 500 Gained 2.1% Yesterday, Bitcoin Increased By Over 3%, Nasdaq Added 2.9% - Yesterday's US CPI Print Helped Various Assets

Daniel Kostecki Daniel Kostecki 11.08.2022 14:11
Yesterday, the US inflation report was released, which came in at 8.5% in July. The market did not expect such a large drop, estimating a level of 8.7% before the data was released. The stock markets reacted positively, and the major equity indexes rose significantly. The S&P 500 gained more than 2.1% during yesterday's session and the Nasdaq almost 2.9%. Bitcoin And Ethereum Cryptocurrencies, however, reacted most noticeably - on the Conotoxia MT5 platform, Bitcoin gained around 3.3% yesterday. And today, it continues its rise, breaking through the local peak of $2,485 on 30 August 2022. At 11.30 am GMT+3, the price of BTC is $24,471. The ETH price has risen even more strongly after a surprisingly low inflation reading. Ethereum gained more than 8.5% yesterday, and at 11.30 GMT+3, it is already up more than 2.3%. The token already costs $1,887 - its highest recorded level since 6 June this year. Reaction The market's reaction has a lot to do with expectations of interest rate hikes, which fell after the US inflation reading. However, it is still a long way from calling it a permanent decline. Inflation is still at its highest level in decades and the economy is operating in an environment of negative real interest rates. According to CME Group data, the Federal Reserve (Fed) is likely to push rates even higher. Currently, the Fed Funds Rate is at just 2.5 pp, the level before the Covid pandemic. The CME Group estimates that we will still reach the 3.25 pp level this year, and peak in 2023 at 3.5 pp. However, as for the 2023 projections. The Federal Open Market Committee (FOMC), which decides them, is already much less unanimous and a lot may still depend on the information coming out of the economy. US Economy - Most metrics - such as the yield curve, consumer sentiment, and economic growth - point to a recession Information on its state in the US is not pleasing. Most metrics - such as the yield curve, consumer sentiment, and economic growth - point to a recession. The labour market, which is surprisingly strong at the moment, is reacting last and is likely to become further evidence of a crisis soon. The cryptocurrency market has never been in such a severe recession, so it is hard to determine exactly how it will behave. For now, the data shows a relatively high level of correlation between it and the stock market. This is not good news, as the latter almost always loses in a crash. Polygon (MATIC) Polygon (MATIC) is an Ethereum token that powers the Polygon network, which is a protocol for building Ethereum-compatible blockchains and decentralised applications (DApps). Polygon is also referred to as a 2nd level (2nd level) solution to help Ethereum to scale faster, by increasing the efficiency of the network. On Wednesday, Polygon shared data on user growth. Their total number in July was 11,800, gaining 47.5% since March and up 400% year-to-date. Interestingly, according to the project, "74% of teams integrated exclusively on Polygon, while 26% deployed on both Polygon and Ethereum,". This shows a very high level of confidence in the new technology, which can be the new foundation for the development of DApps. Since the local low on 19 July this year. MATIC has risen almost 172%. Trading on CFDs is provided by Conotoxia Ltd. (CySEC no. 336/17). CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Wow! BTC May Visit The Land Of Milk And Honey! Could Bitcoin Reach $28K? According To TA...

Wow! BTC May Visit The Land Of Milk And Honey! Could Bitcoin Reach $28K? According To TA...

FXStreet News FXStreet News 12.08.2022 09:41
Bitcoin’s balance on exchanges drops to a four-year low, hinting at a bullish long-term outlook. Bitcoin price needs to break and keep above the 200-day SMA to affirm an impending move to $28,000. Bulls must defend the newly reclaimed $24,000 level to avert potential losses to $22,000. Bitcoin price has struggled to find a solid footing during this crypto winter. Support above $24,000 is becoming elusive amid frequent pullbacks. However, its overall technical picture points to a smooth ride to $28,000. Bitcoin price will need support from micro and fundamental factors to keep the uptrend intact. Bitcoin price regains momentum Bitcoin price is hunting for a way out of the bear market, and one sign it is having some success is the falling amount of BTCs on exchanges. On-chain data by Glassnode elucidates an exchange balance currently around 2,377,195 BTC, down from 2,652,488 BTC on January 1, 2022. Usually, a consistent drop in this metric suggests that investors prefer their coins in other wallets rather than on exchanges where they are more likely to be poised to sell them. It shows that prices will eventually turn around, which is a positive indicator for Bitcoin price. Bitcoin Balance On Exchanges The Moving Average Convergence Divergence (MACD) on the 12-hour chart has reinforced the Bitcoin price move above $24,000. Traders can squeeze in more gains as long as the bullish divergence formed by the 12-day Exponential Moving Average (EMA) and the 26-day EMA stays in place. BTC/USD 12-hour chart A break above the 200-day Simple Moving Average (SMA) at $25,257 will likely weaken the bears more, eliciting the fear of missing out (FOMO). If most of the buyers waiting on the sidelines heed the above buy signal, a breakout to $28,000 will be a matter of when. It will be safer to book early profits at $25,257 if the uncertainty of the bear market is considered. However, bullish traders could wait till $26,000, which is an inflection point likely to determine the approach to $28,000. On the flip side, a hefty buyer congestion zone is expected at $24,000. The ascending trend line will come in handy if declines soar. Fortifying this support is the 50-day SMA on the same 12-hour chart. Bitcoin IOMAP chart Bitcoin price will likely settle for the path with the least resistance, and according to IntoTheBlock’s IOMAP on-chain model, that’s the one heading north. The chart below reveals the presence of minor seller concentration areas to $28,000. On the contrary, robust support zones are in line to cushion Bitcoin price from plunging below $24,000.
Bitcoin Maintains A Steady Bullish Potential

BTC: Is There Any Possibility For Breakout Mode!? Bitcoin Price (BTC/USD) - Technical Analysis - 12/08/22

InstaForex Analysis InstaForex Analysis 12.08.2022 11:24
Relevance up to 10:00 2022-08-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Bitcoin Price Technical analysis: Bitcoin Price Analysis BTC has been trading sideways at the price of $24.000 but there is potential for the breakout mode. Trading recommendation: Due to the sideways regime on the BTC, I see potential for the breakout mode. Watch for potential breakout of the key support at the price of $22.700 to confirm further drop. Downside objective is set at the price of $20.875. Stochastic is showing downside reading , which is another sign of the weakness on the BTC Key resistance is set at the price of $24.900 Read more: https://www.instaforex.eu/forex_analysis/288324   Read more: https://www.instaforex.eu/forex_analysis/288324
The Grayscale Bitcoin Trust Faces A Steady Decline In Value

Crypto: (ETH) Ethereum's Success. Better Than (BTC) Bitcoin?

Saxo Bank Saxo Bank 16.08.2022 09:01
Summary:  The last test of the highly anticipated Ethereum merge was a success. The real merge has now been scheduled for either the 15th or 16th of September. Whereas the latter was a success, Coinbase’s Q2 result was arguably not a success compared to the market’s consensus. The Ethereum merge has been scheduled following the final test On Thursday, the final public test of the highly anticipated Ethereum merge occurred successfully as the test network known as Görli successfully adopted a proof-of-stake framework. One day later, the developers of Ethereum announced that the real merge is likely to take place on either the 15th or 16th of September next month. This is in line with what we estimated earlier this month, assigning a 95% chance of a merge in September in case Görli occurred flawlessly, as it did. This means that one of the most significant events in the history of crypto is only around a month away. It seems that traders are likewise anticipating the merge. Ethereum hit a local high against Bitcoin since January of 0.0816 (ETHBTC) this weekend alongside hitting a new 3-month high in dollar terms of over $2,000. This is rather remarkable because Ethereum has previously decreased against Bitcoin during bear markets with Bitcoin behaving somewhat as a safe haven within the highly speculative crypto market. At present, the pair trades at 0.0793. Coinbase releases Q2 2022 result On Tuesday, the largest US-based crypto exchange NASDAQ-listed Coinbase reported its second quarter result. The result was, however, not encouraging for shareholders. The company’s revenue declined by nearly 64% compared to the same quarter last year, while the company noted a loss accurately exceeding $1bn. Yet, $377mn of that was caused by depreciating its crypto holdings, with the latter taking a severe hit during the quarter. Coinbase laid off around 18% of its workforce in Q2 while enforcing a hiring freeze. The major issue for Coinbase in Q2 and not least going forward is the fact that its retail trading has decreased substantially, although its volume from institutional clients is fairly more stable. The challenge with the latter is that Coinbase earns significantly less on institutional rather than retail trading. As a consequence, institutional clients’ volume is over three times as much but pays overall 15 times less in trading fees than retail clients. So, unless retail trading surges, the fundamental of Coinbase is likely not improving. Making matters worse, Coinbase is encountering further competition on retail trading from, for instance, Robinhood, potentially over time pushing Coinbase’s high margins on retail trading down. Source: Coinbase Global, Inc. Source: Coinbase Global, Inc. Alongside 21 other companies, Coinbase is a part of our Crypto & Blockchain equity basket for investors wanting to get exposure to the crypto market through crypto-related companies (the basket should not be considered as a trade recommendation, only as an inspirational list). Bitcoin/USD - Source: Saxo Group Ethereum/USD - Source: Saxo Group Source: Crypto Weekly: Ethereum, it is time to merge
Cryptocurrency Market: Wow! Ethereum's The Merge Make The Network Use 99.95% Less Power!

Crypto: We May Say Bitcoin Battles With ETH For Users' Sympathy! Bitcoin Price (BTC/USD) - Technical Analysis - 16/08/22

InstaForex Analysis InstaForex Analysis 16.08.2022 09:17
Relevance up to 08:00 2022-08-17 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The world's largest fund managing assets worth over $ 8 trillion has opened a private trust that will allow institutional investors from the United States to gain direct exposure to Bitcoin's spot price. The event is all the more interesting in the context of BlackRock's previous moves, which from the beginning of 2022 clearly suggested an interest in the cryptocurrency industry. The company-created trust is the first such BlackRock product to focus on Bitcoin and track its performance, minus the trust fund's expenses and liabilities. Importantly, the fund was opened just now, when Bitcoin has massively lost since the beginning of 2022 and is slowly recovering. BlackRock has been researching blockchain technology and digital assets for a long time. Research areas include stablecoins, permissioned blockchains, asset tokenization and cryptocurrencies. What is even more important, BlackRock emphasized that his interest in the still 'energy-consuming' Bitcoin was caused by the research programs of the Rocky Mountain Institute (RMI) and Energy Web, which aim to bring Bitcoin mining to sustainable energy use. The fund known for its "green policy" and the so-called The ESG stressed that it "will closely monitor the progress of these programs". August was a very successful month for Bitcoin, and BlackRock made some very important strategic moves during it. Technical Market Outlook: The BTC/USD pair had been capped several times around the level of $25k as the bulls clearly do not have enough momentum to make the sustained breakout possible. The intraday technical support is seen at $23,596 and might be hit any time now as the price keeps moving away from the $25k zone. The momentum is now weak and negative on the H4 time frame chart, so a deeper correction towards the level of $22,679 is possible as well. Please notice, the Bitcoin market keeps moving inside the ascending channel, so the bullish impulsive wave scenario to the upside is now invalidated. If there is no sustained breakout from the channel, the bears might accelerate the sell-off and test the swing low seen at the level of $17,600 again.     Weekly Pivot Points: WR3 - $22,662 WR2 - $25,629 WR1 - $25,067 Weekly Pivot - $24,597 WS1 - $24,035 WS2 - $23,564 WS3 - $22,532 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Read more: https://www.instaforex.eu/forex_analysis/288597
"Ethereum remains highly attractive for investors, and interest in it will grow even more after the move to PoS"

"Ethereum remains highly attractive for investors, and interest in it will grow even more after the move to PoS"

Alex Kuptsikevich Alex Kuptsikevich 16.08.2022 10:21
Market picture Bitcoin is losing 3.7% in the past 24 hours, falling to $23.9K%. Ethereum is down 5.2% to $1870. Other top altcoins are down 2% (BNB) to 6.4% (Solana). Total capitalisation of the crypto market The total capitalisation of the crypto market, according to CoinMarketCap, fell 3.6% to $1.14 trillion overnight. Bitcoin on Monday failed to claw its way above $25K, after which short-term buyers rushed to lock in profits and returned the price to the $24K area. The pressure on BTC was exerted by the rising US dollar amid weak data from China, indicating a slowdown in the economy. However, so far, Bitcoin's decline is more appropriately seen as a corrective pullback within an uptrend. It would only be appropriate to discuss a break in this trend if it moves below $22.5K-23.0K. Sluggish and uncertain growth at the first stages is typical after a strong sell-off that prevailed since last October. News background Notably, the positive dynamics of the crypto market last week coincided with a net $17 million outflow, the first net withdrawal in seven weeks, of which $21 million came from investments in BTC. At the same time, investments in bitcoin short funds increased by $2.6 million. The Wall Street Journal reports that US pension funds remain optimistic about investing in cryptocurrencies, despite a significant pullback in prices and a wave of defaults by crypto companies. Raul Pal -- Real Vision CEO -- believes that Ethereum remains highly attractive for investors, and interest in it will grow even more after the move to PoS. Michael Saylor: BTC is not suitable for everyone, "you should invest for at least four years. Ideally, it's an intergenerational transfer of wealth." Michael Saylor, former head of MicroStrategy, called the company's decision to buy bitcoin a good one. He said, BTC is not suitable for everyone, "you should invest for at least four years. Ideally, it's an intergenerational transfer of wealth."
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

Crypto: Bitcoin - More Investors Choose Holding BTC For A Shorter Period Of Time

Daniel Kostecki Daniel Kostecki 16.08.2022 14:19
The latest The Week On Chain report from Glassnode says there is a growing number of investors with a short time horizon ('short-term holders' - STHs), whose investments have increased by 330,000 BTC since May. It was this month that the crypto world grappled with the great panic and news of Luna's collapse.  The percentage of active supply in the '+1 year' period also rises to some of the highest levels ever. This could be a good sign for the market, which historically speaking normally gained after spikes of this indicator. Source: Glassnode The HODL Waves chart gives a good picture of the demand structure for cryptocurrencies over the past 1.5 years. Most of the gains from early 2021 were to 1-2y investors. In the next wave of gains in the second half of 2021, investors were more likely to target a shorter period of 6-12 months. The recent surge has again seen an influx of investors in the first category. These figures could potentially indicate the timeframe of possible upswings within the next cycle.   Source: Glassnode The data presented in Glassnode's report could point to an upward movement in the price of BTC in the medium term, which overlaps with Grayscale Investment's estimate of the timing of the next long bull market, which would begin within the next year.  Bitcoin and Ethereum Leading tokens BTC and ETH are down 0.3 and 1.4% respectively today at 11:00 GMT+3 on the Conotoxia MT5 trading platform. ETH is marking its third daily bear candle. Its price has temporarily moved below the 10-day moving average. However, ETH still seems to be moving in an upward price channel, to break out of it, the token would have to permanently break through the level around $1,770. The possibility of a correction in the short term cannot be dismissed, especially after the recent wave of strong gains. The current RSI (near the overbought zone) and MACD (drawing lower positive bars in the last days than those in the previous weeks' gains and entering the negative histogram area) may support such a scenario.
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

Watch Out Crypto Market! FOMC Minutes Could Affect Bitcoin Price (BTC/USD)

Craig Erlam Craig Erlam 17.08.2022 12:22
A mixed start to trade in Europe after a more promising session in Asia overnight where stocks may have been boosted by talk of more pro-growth policies in China. That followed disappointing data late last week and early this from the world’s second-largest economy so the comments came at a good time. Still, we’re not seeing investors getting too carried away by comments alone, action needs to follow and small rate cuts from the PBOC don’t really fall into that category. More misery for the UK as prices rise by the most since the early 80s UK inflation hit its highest level in 40 years last month, with the annual CPI jumping 10.1% and the core reading 6.2%, both faster than expected. Double-digit inflation was inevitable but it has come earlier than expected which will leave households and businesses worrying about what that ultimately means for peak inflation later this year and how sustained it will be. The data today has probably locked in a 50 basis point hike from the Bank of England as a minimum, especially when combined with yesterday’s wage growth numbers. Real incomes are still falling at a rapid rate but the central bank will have little choice but to persevere regardless and the economy will suffer the consequences. RBNZ committed to tackling price rises as it raises the cash rate peak The New Zealand dollar is trading a little lower on the day but the session has been quite volatile. We’ve seen some big swings in response to the RBNZ announcement despite the rate decision itself falling in line with expectations. The central bank now expects the cash rate to peak higher and earlier than previously anticipated, hitting 4.1% in the second quarter of next year, compared with 3.95% in Q3. The RBNZ still firmly believes though that the actions it’s taken will both return inflation to the midpoint of its 1-3% target range in 2024 and not trigger a recession, although it did caution that the country will likely experience sub-par growth. That all sounds very hopeful but BoE aside, that appears to be the view of central banks still. Fed minutes eyed as traders seek dovish pivot clues There’s plenty more to look forward to today but the FOMC minutes naturally stand out. What’s interesting about them is that despite the supposed “dovish pivot” from the Fed, the commentary since has been anything but. Rather than talking up the prospect of falling inflation allowing for slower tightening, the message remains hawkish. What’s more, policymakers are continually pushing back against the policy u-turn next year that markets have been flirting with the idea of. I expect any hawkish components of the minutes will be overlooked today and instead traders will dissect them for any additional dovish concessions that could further fuel the stock market recovery. That’s very much what we’ve seen in recent weeks and the decline in CPI last week only encouraged it. Could Fed minutes be the catalyst bitcoin needs? Bitcoin rallies have struggled to generate much momentum of late, with $25,000 proving to be a strong barrier to the upside. What’s interesting is how shallow the pullback has so far been from that level which could be a bullish signal. Traders may be struggling to get on board with a break higher but they’re perhaps not keen to cash out either. The FOMC minutes later may be the catalyst it needs, one way or another. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Mixed ahead of Fed minutes - MarketPulseMarketPulse
Mt. Gox's Recovered Bitcoins Seems Not To Be Paid Back To Creditors This Month

Crypto: Bitcoin Price May Catch You By Surprise! 1 BTC To USD - Technical Analysis

InstaForex Analysis InstaForex Analysis 17.08.2022 13:35
Relevance up to 10:00 2022-08-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Technical analysis: BTC/USD has been trading sideways at the price of $23.800. I see potential for further movement and potential for the breakout of the rising trend-line. Trading recommendation: Due to the potential breakout of the rising wedge pattern, I see further downside movement. Watch for potential selling opportunities on the intraday rallies with the downside objective at $22.600 and $21.000. MACD oscillator is showing downside momentum, which is good sign for further downside movement. Key resistance is set at the price of $25.000 Read more: https://www.instaforex.eu/forex_analysis/288831
ByBit talks Grayscale Bitcoin Trust. How Does GBTC work?

Crypto: Bitcoin Price USD - Technical Analysis - 17/08/22 | InstaForex

InstaForex Analysis InstaForex Analysis 17.08.2022 14:42
Relevance up to 10:00 2022-08-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Alphabet, the owner of Google, has invested as much as $ 1.56 billion in projects from the blockchain market. This happened between September 2021 and June 2022, according to a report from Blockdata. In recent years, Alphabet, the parent company of Google, has entered the blockchain market. It is worth adding, however, that the company initially adopted a cautious approach to this sector. Ultimately, however, she partnered with Dapper Labs, a studio developing products in the Web 3.0 field. "We look at the blockchain market with interest; it is a very interesting and powerful technology with wide applications" Alphabet CEO Sundar Pichai said. How do other giants fare against this background? In the same period, i.e. September 2021 - June 202, BlackRock invested $ 1.17 billion in blockchain initiatives. Morgan Stanley, in turn, spent $ 1.1 billion on similar projects. Samsung has allocated $ 979 million for projects of this nature, and Goldman Sachs - $ 698 million. In general, companies are entering the blockchain market, despite the fact that it is still unknown if and when this technology will be widely available in a few years, and its adoption will continue. However, the current forecasts of experts indicate that the development of the block network in the coming years will continue. The current actions of giants like Alphabet mean that these corporations will have a competitive advantage as the said adoption continues to develop. Technical Market Outlook: The BTC/USD pair had been capped several times around the level of $25k as the bulls clearly do not have enough momentum to make the sustained breakout possible. The intraday technical support is seen at $23,596 and might be hit any time now as the last bounce from the local lows was very shallow. The momentum is now weak and negative on the H4 time frame chart, so a deeper correction towards the level of $22,679 is possible as well. Please notice, the Bitcoin market keeps moving inside the ascending channel, so the bullish impulsive wave scenario to the upside is now invalidated. If there is no sustained breakout from the channel, the bears might accelerate the sell-off and test the swing low seen at the level of $17,600 again.     Weekly Pivot Points: WR3 - $22,662 WR2 - $25,629 WR1 - $25,067 Weekly Pivot - $24,597 WS1 - $24,035 WS2 - $23,564 WS3 - $22,532 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Read more: https://www.instaforex.eu/forex_analysis/288841
Sebastian Seliga (InstaForex) Comments On FX (NZD/USD, GBP/USD), Bitcoin And More

Sebastian Seliga (InstaForex) Comments On FX (NZD/USD, GBP/USD), Bitcoin And More

InstaForex Analysis InstaForex Analysis 17.08.2022 15:13
Relevance up to 10:00 2022-08-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Let's take a look at the technical picture of NZD/USD, GBP/USD, USDX and Bitcoin. Read more: https://www.instaforex.eu/video_analysis/288849
Bullish Dollar Sentiment Prevails Amid CFTC Report and Rate Hike Expectations

What Does Anthony Hopkins Have To Do With NFT!? | Bitcoin Price - Technical Analysis - 18/08/22

InstaForex Analysis InstaForex Analysis 18.08.2022 12:00
Relevance up to 10:00 2022-08-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Oscar winner Anthony Hopkins has teamed up with Orange Comet, Web3's startup creative studio, to create the actor's first NFT series, the Eternal Collection. "NFT is a blank canvas for creating art in a new format," Hopkins told reporters at an online press conference. "I'm probably the oldest guy in the NFT community and on social media, which proves that anything is possible at any age," he adds. According to the 84-year-old actor, metaverse "offers an amazing opportunity to connect with audiences in a completely different way." The Eternal Collection series is based on visuals inspired by 10 different roles that Hopkins has played in his film career - including Hannibal Lecter from The Silence of the Lambs and Odin in three Marvel films. According to Dave Broome, Orange Comet CEO, the NFTs will appear in mid-September. Part of the proceeds from the sale of tokens will be donated to a charity designated by Hopkins and his wife Stella Arroyave. Technical Market Outlook: The BTC/USD pair had broken below the key short-term technical support located at the level of $23,596. The momentum is now weak and negative on the H4 time frame chart, so a deeper correction towards the level of $22,679 is possible as well. Please notice, the Bitcoin market keeps moving inside the ascending channel, so the bullish impulsive wave scenario to the upside is now invalidated. If there is no sustained breakout from the channel, the bears might accelerate the sell-off and test the swing low seen at the level of $17,600 again.     Weekly Pivot Points: WR3 - $22,662 WR2 - $25,629 WR1 - $25,067 Weekly Pivot - $24,597 WS1 - $24,035 WS2 - $23,564 WS3 - $22,532 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Read more: https://www.instaforex.eu/forex_analysis/289045
Bitcoin Maintains A Steady Bullish Potential

What Is IBTC? Monochrome Asset Management From Australia Creates A Crypto ETF

Daniel Kostecki Daniel Kostecki 18.08.2022 15:25
Australian financial firm to launch 'spot' crypto ETFsA few days ago, Australian asset management and advisory services firm Monochrome Asset Management became the first in the country to obtain an Australian Financial Services License (AFSL) from the regulator to create a crypto exchange-traded fund (ETF) Monochrome Bitcoin ETF under the ticker IBTC.Jeff Yew CEO of Monochrome Asset Management in an interview with Cointelegraph, announced that this is a major milestone for the local market, given that till now, crypto ETFs in the Australian market had to operate under asset authorization holding cryptocurrencies only indirectly.IBTC, under its AFSL licence, will be able to directly trade and hold tokens under Australian Securities & Investments Commission (ASIC) authorization. This will allow for more independent capital management. It will also provide the opportunity to directly influence the market and facilitate active investing. The latter is not a breakthrough for IBTC, which is intended to be a fund that invests rather passively, but for more aggressive asset managers, it could open up a range of new opportunities.The new license also offers investors greater capital protection based on ASIC 705 regulations - these include appropriate benchmarking against the spot price and depository arrangements in line with Australian regulations."The regulator's approval of this license variation represents a major step forward for both the advice industry and retail investors, allowing advisers to meet the market demands of their clients when it comes to the nascent crypto-asset class," - Jeff Yew said in a press statement."Investors investing in Monochrome's ETFs will know that their funds are investing directly in Bitcoin (BTC) and Ethereum (ETH), and importantly within the regulatory rails established by ASIC specifically for crypto-assets," - added the CEO, reassuring investors that they will not end up with just one crypto ETF.ETFs are instruments that could appeal especially to conservative and long-term investors. This could mean an opportunity for the market to see an influx of capital from a new class of investors who, through their investment perspective, can stabilize a highly volatile market.Today, most cryptocurrencies are seeing little daily price movement. As of 11:00 GMT+3, BTC is gaining 0.08% and ETH is losing 0.25%. Ethereum yesterday crossed the 10-day moving average and appears to be approaching the 20-day moving average, while BTC is already below the 20-day moving average.
The Bitcoin Price Movement Is In The Bullish Channel

BTC: Could Bitcoin Price Decrease To $17,600? Let's Have A Technical Look At BTC/USD - 19/09/22

InstaForex Analysis InstaForex Analysis 19.08.2022 12:57
Relevance up to 08:00 2022-08-20 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Leading Chinese cryptocurrency mining maker Canaan has no problems with a local cryptocurrency ban as the company's overall performance continues to grow in 2022. Canaan officially announced its financial results for the second quarter of 2022, posting a 117% increase in gross profit for the same period of 2021. According to the company, Q2 profit was almost $ 139. The company's net profit for the second quarter was $ 91 million, an increase of 149% compared to the same period last year. Canaan noted that the second quarter foreign currency translation adjustment was income compared to the previous losses due to the appreciation of the US dollar against the RMB in the second quarter. "Despite significant gains, Canaan found the second quarter a difficult period with Bitcoin falling below $ 20,000 in June because off the lowered demand for our AI chips" - said CEO Nangeng Zhang. Zhang mentioned that Canaan is expanding its global presence by establishing an international headquarters in Singapore. The company is also working on scaling up its mining activities, generating more Bitcoins thanks to the improved power supply. Technical Market Outlook: The BTC/USD pair had broken below the 50% Fibonacci retracement level of the last wave up seen at $22,953. The momentum is still weak and negative on the H4 time frame chart, so a deeper correction towards the level of $22,428 (61% Fibonacci retracement level) is possible as well. Please notice, the Bitcoin market keeps moving inside the ascending channel, so the bullish impulsive wave scenario to the upside is now invalidated. If there is no sustained breakout from the channel, the bears might accelerate the sell-off and test the swing low seen at the level of $17,600 again.     Weekly Pivot Points: WR3 - $22,662 WR2 - $25,629 WR1 - $25,067 Weekly Pivot - $24,597 WS1 - $24,035 WS2 - $23,564 WS3 - $22,532 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Read more: https://www.instaforex.eu/forex_analysis/289172
What Should We Expect From The Bitcoin Formation In The Near Future?

Crypto: Could We See Bitcoin Starting The Next Week At Ca. $20K?

InstaForex Analysis InstaForex Analysis 19.08.2022 13:12
Relevance up to 09:00 2022-08-20 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Bitcoin has been bearish since hitting the swing high of $25k. The first bearish signs came last week, but they quickly faded due to the descending triangle of intraday trading volumes and the unsuccessful retest of $25k. In addition, a row of negative fundamental factors exerted pressure on the crypto market. The US dollar index started to recover, while BTC-based crypto funds lost over $20 million last week.     As a result, digital gold plunged, broke through $23k, and bounced to $21.2k. The steep fall came after a bearish breakout through the range of $22.8k-$23.4k. Consequently, the price tumbled to $21.4k support.     A few more fundamental and technical factors have contributed to the fall in BTC. The FOMC Minutes hinted at the continuation of rate hikes. In addition, the number of long positions grew. The volume of bullish positions has been $1 billion higher than that of bearish positions. And the market, as you know, plays against the majority.     Consequently, the market capitalization of BTC fell by 3.5% in an hour and by 5.7% in a day. The rising wedge pattern headed down, as expected. The bullish trend that emerged on July 18 stopped when the price dropped to $21,4k. Even if bulls recoup losses, the main two bearish targets are still reached: the large volume of long positions was liquidated and the uptrend line was broken.     Speaking of a possible rebound above $23k, it is highly unlikely. Technical indicators show the continuation of the bearish trend. The Stochastic Oscillator formed a bearish crossover near 60 and nosedived to the oversold level near 18. The RSI gives no signals of an impending reversal. The MACD started to move down and could enter the red zone soon. These factors reflect bearish power and the likelihood of a retest of $20k.     On the 4-hour chart, there are the first signs of a recovery. The Stochastic Oscillator shows a bullish crossover in the oversold zone. The indicator has already reached the mark of 22 and is now moving up. The RSI, however, is moving down. Thus, we have a divergence, which means that a bullish impulse is unlikely. Bitcoin has reached a point where low trading volumes make it impossible to defend major support levels. Should the current trend go on, next week would kick off with a retest of $20k.   Read more: https://www.instaforex.eu/forex_analysis/319391
ByBit talks Grayscale Bitcoin Trust. How Does GBTC work?

Crypto: Bitcoin Price - Technical Analysis - 19/08/22

InstaForex Analysis InstaForex Analysis 19.08.2022 13:20
Relevance up to 10:00 2022-08-20 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Technical analysis: BTC has been trading downside as I expected. The price has reached the first downside objective at $22.600 and is heading towards next targets. Trading recommendation: Due to the strong supply and broken rising wedge pastern, I see further drop in play. Watch for potential selling opportunities on the intraday rallies with the downside objectives at $21.000 and $19.000. MACD oscillator is showing fresh new momentum to the downside, which is another confirmation of the momentum. Key resistance is set at the price of $25.000 Read more: https://www.instaforex.eu/forex_analysis/289220
The Close Relationship With BTC Does Not Allow The Altcoin To Move On Its Own

Crypto: Ethereum (ETH) And Bitcoin (BTC) Start Losing? Filecoin (FIL) Sheded Almost 18%!

Conotoxia Comments Conotoxia Comments 19.08.2022 14:57
Since the beginning of July, the crypto market seemed to be on the rise. The largest tokens (BTC and ETH) at the local peak, gained around 35% and 101% respectively. However, today at 11:30 GMT+3 BTC is losing around 7.3% and ETH around 8%. Today, ETH broke through its price channel and the 20-day moving average. If the price does not return to the channel in the next couple of days, we will be able to say that a possible reversal of the short-term trend we mentioned in previous articles has taken place. Especially if this is confirmed by indicators such as the Wilder directional indicator. BTC has also moved far out of its price channel and is currently below the 10, 20 and 50-day moving averages. The directional indicator has already shown a potential trend reversal and the MACD is approaching the negative zone. Today on the Conotoxia MT5 platform at 11:00 GMT+3, Filecoin (FIL) is down the most. It is experiencing a loss of almost 18%. According to Coinmarketcap, it has a capitalisation of almost $1.8 billion and a daily volume of over $511 million. Filecoin was launched in 2020 to decentralise data storage, providing an alternative to industry giants such as Amazon and Alibaba at a cost reduction of almost 99%. The project's network connects storage providers with customers looking for a place to keep their data. Those offering their storage from laptops to server rooms after verifying data integrity and security can obtain a FIL token as a reward. This creates a highly diversified and low-cost database network. However, the characteristics of the project are inherently inflationary, unlike BTC. The declines described are attributed to a broad market correction, the exit of 'big money' and growing pessimism about the increasing supply of FIL tokens. Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: The crypto market falls as profits are realised
Bitcoin Maintains A Steady Bullish Potential

Crypto: Bitcoin Price (BTC/USD) - Technical Analysis - 20/08/22

InstaForex Analysis InstaForex Analysis 21.08.2022 11:59
Relevance up to 15:00 2022-08-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Trading Cryptocurrency BTC/USD (Bitcoin) : Bitcoin price prediction : Remember that Cryptocurrencies are the new money! so, Bitcoin is really a great fortune. Hence, our target $30,000 in the next few weeks. Today, BTC/USD is trading below the weekly pivot point $22 k. Because BTC/USD broke support which turned to a minor resistance at the price of $22,462 last week in 2022. The price of $22,462 is expected to act as major resistance in the first week of August 2022. As long as there is no daily close below $22,462, there are no chances of a fresh increase below $22,462 (R1) in the H1 time frame. The support levels will be placed at the prices of $20,804 and $20,000. As long as there is no daily close below $22,462, there are chances of breaking the bottom of $20,804. The volatility is very high for that the BTC/USD is still moving between $22,462 and $20,000 in coming hours. As a result, the market is likely to show signs of a bullish trend again. Hence, it will be good to sell below the level of $22,462 with the first target at $20,804 and further to $20,000 in order to test the weekly last bearish wave. However, if the BTC/USD is able to break out the daily resistance at $22,462, the market will decline further to $30,000 to approach resistance 3 in coming days. Daily Forecast : Pivot Point : $22,462. As we know that : 1 BTC ---> $21,260 approximately. 1 ETH ---> $1,627 approximately. It follows that : 1 ETH ---> 0,0765286923800564 BTC. Thereby, one Ethereum is only worth 0,0765286923800564 Bitcoin (August 20, 2022). Forecast : According to the previous events the price is expected to remain between $22,462 and $20,00 levels. Sell-deals are recommended below $22,462 with the first target seen at $21,000. The movement is likely to resume to the point $ $20,804 and further to the point $20,000. Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small bullish correction.   Read more: https://www.instaforex.eu/forex_analysis/289326
Technical analysis of the leading cryptocurrency, Bitcoin, by Sebastian Seliga (InstaForex) - 27/10/22

Extreme Volatility On Crypto Market! Bitcoin Price (BTC/USD) - Technical Analysis - 22/08/22

InstaForex Analysis InstaForex Analysis 22.08.2022 10:27
Relevance up to 10:00 2022-08-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The Federal Bureau of Investigation (FBI) explained the origin of the colloquial name. It is about "the way fraudsters feed their victims with promises of wealth before they take all their money." As vividly added Lakewood Public Information Officer John Romero, the term "basically refers to a farmer fattening a pig before slaughter." The police officer explained that it all starts with social media or dating sites. Criminals mainly use Linkedin and Tinder. There they find and convince their victim to donate some funds to them. Then they place the funds on a cryptocurrency wallet. They also show the victim that digital currencies are gaining in value, causing them to deposit more money into their account. Then the scammer disappears with lots of cryptocurrencies. According to one of the people who fell victim to criminals, she was initially able to make several withdrawals from the cryptocurrency wallet without any problems. So everything looked legal. Suddenly, however, she received a message stating that she needed to deposit over $ 204,000 in order to access the funds. Technical Market Outlook: The BTC/USD pair has been seen testing the lower channel line around the level of $21,000. The momentum is still weak and negative on the H4 time frame chart, bounces are shallow and the market is clearly controlled by bears that might accelerate the sell-off and test the swing low seen at the level of $17,600 again. The nearest technical resistance is located at the level of $22,410.     Weekly Pivot Points: WR3 - $22,059 WR2 - $21,713 WR1 - $21,486 Weekly Pivot - $21,368 WS1 - $21,140 WS2 - $21,022 WS3 - $20,677 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Read more: https://www.instaforex.eu/forex_analysis/289416
Bitcoin Is Showing The Potential For The Further Downside Rotation

Will Bitcoin Price (BTC/USD) Be Trading Sideways?

InstaForex Analysis InstaForex Analysis 22.08.2022 10:40
Relevance up to 09:00 2022-08-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Bitcoin has completed a sluggish upward trend that originated after the formation of the local market bottom. The price has pulled back to the $21k–$22k level, where a large cluster of long-term investors accumulating Bitcoins are concentrated. The upward movement of the cryptocurrency was built around illusory desires to see a $30k retest and start a new stage of recovery. However, if you look at the weekly chart of the cryptocurrency, it becomes clear that the upward trend of the asset until mid-August looked very unconvincing.     On the weekly chart, Bitcoin has formed a "bearish engulfing" pattern, which indicates that the downward momentum will continue in the near term. However, judging by the trading volumes, this pattern was formed due to a decrease in overall trading activity, and buyers in particular. Despite the negative end of the previous week, technical indicators in the weekly perspective point to price consolidation rather than the second stage of a major fall. The Stochastic and the RSI are moving flat, as is the MACD moving below zero. Technical metrics indicate that Bitcoin has no reason to start a powerful upward trend in the medium term.     On the daily chart, the situation is somewhat more complicated. Despite a sharp recovery from the fall, technical metrics hint at a likely second stage of decline. In particular, the stochastic oscillator was falling to the overbought zone, where it tried to reverse. However, in the end, the metric completes the implementation of another bearish crossover. The RSI also starts to drop below 40, indicating growing selling volumes. The MACD indicator also enters the red zone and moves below the zero mark. These factors indicate the predominance of sellers at the current stage, and hence the continuation of the downward price trend.     As a result, the US dollar index, which has an inverse correlation with Bitcoin, has significantly strengthened. However, this factor may be overestimated due to the overall macroeconomic environment. Investors are in the process of developing an acceptable trading strategy that will allow them to capitalize in an environment of high inflation and the risk of stagflation. This is the reason for the low trading volumes. However, there is no doubt that an investment strategy will be developed, and the deflationary potential of Bitcoin will play an important role.     The second factor influencing the price reduction is the capitulation of the miners. Bitcoin mining companies, as of August 22, have sold most of the BTC coins they received in July. Since the beginning of August, at least 6,000 coins have been transferred to exchanges. At the same time, there is reason to believe that the capitulation of miners is gradually coming to an end. This opinion was shared by Charles Edwards, founder of the Capriole Investments firm. The entrepreneur believes that the current capitulation of mining companies has already become the third longest in history. Most likely, this is a sign of its completion in the coming months.     Despite the local negative situation and the likely retest of $20k, Bitcoin is gradually approaching the end of the main phase of the bear market. At the same time, it is too early to talk about the beginning of a recovery movement since the coin does not have fundamental factors for growth. With this in mind, in the short term, we are waiting for another fall in the price of BTC. In the medium term, we should expect the trend in the cryptocurrency price movement to continue within a wide range of fluctuations of $20k–$25k.   Read more: https://www.instaforex.eu/forex_analysis/319522
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Crypto: Bitcoin (BTC) And Ethereum (ETH) Are Losing In Value!?

Conotoxia Comments Conotoxia Comments 22.08.2022 17:20
The average bitcoin payment fee recently fell below $1 for the first time in years. Transaction fees are needed to enable crypto intermediaries to operate, but they are hampering the adoption of payment solutions, affecting small payments in particular. Because the network is expensive to maintain due to its energy-intensive nature, commissions have been able to shoot up many times, for example, Ethereum commissions during the NFT hype. This is even more painful for transfers of small sums. This is why new technological solutions are so important. Here comes ethereum's Merge and payment solutions for bitcoin (Lightning Network and Taproot overlays), which are already revolutionising the world of crypto payments. They allow settlements to be faster, less energy-intensive and less expensive. The current average transaction fee for BTC payments has fallen below $0.825 - the lowest since 13 June 2020, ETH below $0.64, and is likely to be even cheaper. Their decline is not only a reason for the ever-improving technology, but also the recent crash of tokens, NFTs and an increase in the ease of mining in the long term. However, current energy and cryptocurrency prices may cause a short-term decline in mining activity. Many have already suspended operations or exited the crypto world. This can be seen in particular through the massive sale of mining rigs and used computer hardware (especially graphics cards). ETH, BTC and most tokens seemed to continue their declines. ETH and BTC prices are below the price channel and in the absence of a return above its bottom line, we can probably already speak of a short-term trend reversal. ETH has found its support on the 50-day moving average for now, while BTC has already crossed it. Moreover, the technical indicators (RSI, MACD and ADX) do not indicate a reversal of the short-term trend either. Declines in the major stock market indexes, hawkish announcements from the FED and further pessimistic data from the economy seem to be putting a lot of pressure on crypto. RafaÅ‚ Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: BTC and ETH payments getting cheaper. Will Cryptocurrencies experience further declines?
Crypto: Bitcoin (BTC) And Ethereum (ETH) Situation. Is It Just An Run-Up?

Crypto: Bitcoin (BTC) And Ethereum (ETH) Situation. Is It Just An Run-Up?

Saxo Bank Saxo Bank 22.08.2022 19:15
Summary:  On Friday, crypto long positions worth north of $500mn were liquidated, as fatigue spread in the crypto market. Not helping was speculation that exchanges may be forced to censor certain transactions on Ethereum in the future. Speaking of transactions, the demand for them on Bitcoin and Ethereum has decreased significantly, weakening the fundamentals of particularly Ethereum. Traders standing in line to be liquidated The crypto market, notably Ethereum, recovered partially in July and August until last week. From a low of 17,600 (BTCUSD) and 880 (ETHUSD) in June, Bitcoin and Ethereum surged to a local high of 25,200 and 2,030 on the 15th and 14th of August, respectively. Following new local highs, the market was seemingly becoming exhausted last week. Since then, Bitcoin has plunged by 15.6% to 21,270, whereas the Ethereum price has declined by 23.3% to 1,565. On mainly Friday, crypto derivative exchanges saw red. On this day, long positions were liquidated worth a combined $562mn in 24 hours. This is almost as much as the day in June, when Celsius halted withdrawals, even though the market movement to the downside was larger in June. This means that the crypto market has been extremely leveraged to ride the uptrend the past month and that party came to a halt on Friday. It seems that traders have particularly leveraged Ethereum trades going into the merge. Can exchanges censor certain Ethereum transactions? Two weeks ago, the US sanctioned the most used mixer on the Ethereum network called Tornado Cash. The latter has often been linked to money laundering; however, it was frequently used by private individuals to engage with the Ethereum network privately. The Tornado Cash protocol cannot by default be shut down, since it is a smart contract, so the sanctions involve that no US person or entity is allowed to engage with transactions originating from Tornado Cash. Afterward, speculation arose about what could possibly be next in line to be sanctioned. The ultimate sanction could be to censor certain Ethereum transactions, thus possibly shutting down the Tornado Cash protocol for good. At the moment, it would not be possible for governments to directly censor such transactions, however, it might be possible for them, as soon as Ethereum adopts proof-of-stake instead of a proof-of-work framework in the middle of September, known as the merge. This is because the majority of the Ether staked, hence Ether used to verify transactions, is done through exchanges or other intermediaries by clients handing over their Ether to these companies for them to verify transactions on Ethereum. For instance, Coinbase handles close to 15% of the total amount of Ether staked. Governments can technically make Coinbase adhere to such sanctions by ensuring it does not verify transactions related to Tornado Cash on a network level. Without going into too many details, in our opinion, it is very unlikely that this will occur, both from a societal and technical point of view. Yet, if it in reality occurs, then everything in the industry is at risk since the main selling proposition is full decentralization without intermediaries. In case certain transactions are ruled out from the network, we need to look ourselves in the mirror and ask if this industry has then anything to offer at all. The speculation in this matter did arguably contribute negatively to the price development of Ethereum in the last week. Brian Armstrong, Coinbase’s co-founder and CEO, commented on this on Twitter last week. Here, he said that Coinbase would possibly exit its staking operations if governments came to enforce the sanction of transactions on-chain, as Armstrong stated, “to focus on the bigger picture” by keeping Ethereum decentralized. If all staking providers do this, then it will presumably not be a problem, as the network will be kept online by solo stakers. When prices drop, fees follow suit For the majority of the year, the crypto prices have been on a downward trajectory. Transaction fees paid on particularly Bitcoin and Ethereum have followed suit. In November last year, Bitcoin generated around $500,000 - $1mn in fees daily, while Ethereum set at around $50mn - $80mn in transaction fees daily. Now, Bitcoin averages around $150,000 - $300,000 daily, while Ethereum sits at around $2mn - $3mn daily. This emphasizes that most activity on Bitcoin but primarily Ethereum is highly speculative and strictly linked to the prices of cryptocurrencies. Source: Token Terminal For Bitcoin, there are no direct consequences of lower total transaction fees in the near term. However, it might have consequences in the next decades, since the network might not be able to sufficiently compensate miners. For Ethereum, the lower transaction fees result in less Ether burned, effectively meaning less is removed from the supply. This makes the fundamentals of Ethereum weaker. For instance, Ethereum has for the past year burned 4.71 Ether per minute from transaction fees, whereas it has only managed to burn 0.89 Ether per minute in the past 30 days. Bitcoin/USD - Source: Saxo Group Ethereum/USD - Source: Saxo Group   Source: Crypto Weekly: Leverage is the language of crypto
Crypto Market Survived A Dramatic Loss! Guo Seems To Prefer PoW Ethereum To Proof-Of-Stake!

Crypto Market Survived A Dramatic Loss! Guo Seems To Prefer PoW Ethereum To Proof-Of-Stake!

Kucoin Blog Kucoin Blog 23.08.2022 12:57
Most of the cryptocurrencies ended up in the heavy red over the past week, with most reaching double-digit losses. The overall cryptocurrency market volume in the past 24 hours came up to $60.83 billion - a drastic drop of over $17 billion from the past week. The overall crypto market cap decreased slightly compared to the previous week, coming up to $1 trillion, a slight decrease from the previous week’s $1.15 billion.   Let's delve deeper and take a quick look at the latest crypto market news and BTC's technical outlook.   Crypto Market Overview Bitcoin's dominance has remained below the 40% mark but increased slightly to 39.31%. This came as a result of BTC outperforming the top cryptocurrencies by making a smaller downturn. The most valuable cryptocurrency pair, BTC/USDT, is currently trading at $21,293.62, while Ethereum, the second-largest cryptocurrency by market capitalization, has fallen to $1,570.88, down 18.92% in the last week.   The top performers from the previous week were EOS (EOS) and Chiliz (CHZ), while the rest ended their week in the red. EOS has increased by 19.74% to $1.51, while CHZ gained 7.54% in the past seven days.   Cryptocurrency Market Heatmap | Source: Coin360   On the other hand, Lido DAO (LDO), Near Protocol (NEAR), and Curve DAO Token (CRV) were the worst performers of the week. LDO is down 31.27% to $1.91; NEAR is down 26.63% in the last seven days; CRV is down 26.17% to $1.   Top Altcoin Gainers and Losers Top Altcoin Gainers: EOS (EOS) ➠ 19.74% Chilliz (CHZ) ➠ 7.54% Top Altcoin Losers: Lido DAO (LDO) ➠ 31.27% Near Protocol (NEAR) ➠ 26.63% Curve DAO Token (CRV) ➠ 26.17%   News Highlights Here are some of the events that made the previous week's crypto news section stand out:   Ethereum 2.0 Merge in the Limelight, PoW Ethereum the Talk of the Town The Ethereum blockchain is on track to make its highly anticipated transition from its current Proof-of-Work (PoW) consensus mechanism to a Proof-of-Stake (PoS) one. The Merge date is officially scheduled for Sept. 15–16 after the successful final Goerli testnet integration to the Beacon Chain on Aug 11.   However, not everything is going smoothly, as a group of miners and PoW supporters have announced that they will opt to hard fork Ethereum and continue operations on the new version. Chandler Guo, a Bitcoin (BTC) miner, was among the first to bring out a case for the PoW Ethereum chain post-Merge. In a tweet on July 28, Guo shared with the public a screenshot of Chinese miners saying that PoW Ethereum is coming soon.   However, Vitalik Buterin has denounced those who are in favor of PoW Ethereum, claiming that the move is just a ploy for miners to make easy money without benefiting humanity - especially after them declining to move to ETC, a Proof-of-Work Ethereum fork from 2016.   Cardano Testnet Critical Bug a Controversy? Charles Hoskinson, the founder of Cardano, has come out to speak about how the issues surrounding the Cardano Vasil hard fork have been “incredibly corrosive and damaging.” After a rumor broke out that Cardano’s testnet is “catastrophically broken,” Hoskinson stated that there’s been an “unfair narrative” floating around Cardano and its testnet issues, which he called “incredibly corrosive and damaging.”   He spoke about how people can and should not conflate a failed testnet with the mainnet, because testnets are constructed and destroyed all the time in this industry. He then added that “They are in no way, in any way harm Cardano itself.”   The Vasil hard fork has already been delayed several times this year, with the most recent delay being announced at the end of July due to issues identified on the testnet. Hoskinson, however, remains optimistic that the Vasil hard fork will ship “imminently.”   USDC Records a 22-Month Low Whale Holding Percentage The percentage of USD Circle (USDC) stablecoins held by the top 1% of wallet addresses dropped to its lowest point in almost two years as the crypto market downturn continues. While the real reason or reasons for this are unknown, various commentators have suggested that some users shifted their stablecoin holdings from USDC to USDT. This claim was made given the correlation in the decline and growth of the respective stablecoins’ market cap.   Data from Glassnode, an on-chain analysis firm, shows that the percent of USDC held by the top 1% of addresses is currently at a 22-month low of 87.667%.   However, even though the market cap of USDC ended up reducing somewhat, the stablecoin reached a three-year high in terms of weekly mean transaction volume, surpassing the previous high it registered in June of this year.   Tether Decreases Commercial Paper Holdings by 58% An announcement from USDT issuer Tether Holdings Limited revealed the results of the independent Q2 attestation performed by the top accounting firm BDO Italia.   Tether had previously made an announcement that they intend to reduce their commercial paper holdings to 0% by the end of October 2022. Data from this report revealed a 58% decrease in commercial paper exposure since the previous quarter. When translated into dollar value, this is a decrease from $20 billion to $8.5 billion.   The CTO of Tether, Paolo Ardoino, tweeted that Tether plans to continue to decrease its commercial paper holdings to $200 million by the end of August, and to ultimately reach zero by the following October.   The Fear & Greed Index at 29, Market Turning More Bearish The fear and greed index continues to signal "fear," with an index indicating a 29 score. Fear levels have increased greatly since the past week, with the market now being much more fearful than on Monday past week, when the Index showed 45.   Fear & Greed Index | Source: Alternative Crypto Calendar: Events to Watch This Week ➺ 22/08/2022 - JEWEL - DeFi Kingdoms AMA ➺ 22/08/2022 - DFI - BitMart Listing ➺ 23/08/2022 - TRX - Telegram AMA ➺ 24/08/2022 - SAND - Alpha Season 3 Begins ➺ 25/08/2022 - Crypto - CoinFest Asia ➺ 26/08/2022 - ICP - BTC Testnet AMA   Bitcoin (BTC/USDT) Analysis on KuCoin Chart Bitcoin has had a very bad week, with its price slowly recording double-digit losses and dropping below several support levels. The largest cryptocurrency by market cap has seemingly failed to maintain the uptrend it kept for over a month, while also falling below the 21-day moving average level.   This downtrend has led BTC from a little over $25,000 all the way up to a high of $20,760, which it hit on Saturday. However, the price bounced back above the $21,000 mark, and it’s fighting to stay above this level.   BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   Analysts are predicting an even further drop due to worldwide uncertainty, with long-term lows possibly hitting the low teens.   Bitcoin’s immediate support level stays at $21,000, while its immediate resistance level lies at the 21-day moving average, currently sitting at $23,100.   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.     Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange Download KuCoin App >>> https://www.kucoin.com/download Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: Weekly Crypto Analysis: BTC Testing $21K Support; Crypto Market Losing its Upward Momentum| KuCoin
The Canadian Dollar Gains Momentum as Crude Oil Prices Surge

Wall Street: The Worst Day Since June. Bitcoin (BTC) And Ethereum (ETH) Can Feel The Tension In The Air

Conotoxia Comments Conotoxia Comments 23.08.2022 14:35
According to Coinmarketcap data, the total capitalization of cryptocurrencies has fallen to nearly $1 trillion, showing a major shift in sentiment among traders and investors in recent days. The last time market capitalization was at this level was in late July. The possible trend reversal does not only apply to cryptocurrencies. The Nasdaq and S&P 500 have fallen from their local highs of August 16 by 5.7% and 3.8%, respectively. This is a significant change for such large indexes. Interest rates on U.S. 5-year Treasury bonds, after recording a local low of 2.55% on August 1, have risen to 3.17% in recent weeks, as Fed policymakers' statements proved more hawkish than expected. These are potential signs of a deteriorating outlook again, which should not be ignored. A chart of the Crypto Fear & Greed Index may show a decline in crypto market sentiment and an increase in investor fear. As recently as last week, the index showed a reading of 44, and now it is 28 points. Despite the partial decrease in the correlation between bitcoin and the S&P 500, it still seems to be high. Especially since it has historically risen during crashes - the last peak in the correlation was reached in mid-May, when both markets were down. BTC and ETH, despite finding support at $20,700 and $25,300, respectively, could be more exposed to the downside due to deteriorating economic data and market sentiment.  On the Conotoxia MT5 platform as of 12:00 GMT+3, one of the strongest falling tokens is EOS, which is losing nearly 9% after a 7-day gain of 48%. EOS is the native token of the EOSIO network. In practice, the project provides blockchain developers with a set of necessary tools and services to build and scale decentralized applications. The project's first whitepaper was released in 2017, and the team conducted an ICO, securing more than $4 billion in investment. It was one of the largest crowdfunding events in the history of cryptocurrencies.   Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Source: Does data signal more short-term declines in the crypto market?
Scottie Pippen (Basketball Player) Received A Personalized NFT

(BTC/USD) Bitcoin Price Lingers Around $20,000. Crypto Traders May Be Vigilant As Powell's Is Said To Speak In Jackson Hole

Craig Erlam Craig Erlam 23.08.2022 16:26
It’s been a choppy day of trade, with much of Asia and Europe treading water while the US is expected to open marginally higher. It’s clear that investors already have an eye on the Jackson Hole Symposium later in the week and we’re perhaps seeing some apprehension and anxiety ahead of that. I’m not entirely sure where that has come from because they’ve been perfectly happy to bat away hawkish warnings in recent weeks and if anything, the data has turned slightly in their favour. It may simply be a case of profit-taking after a good run in case the message finally gets through and causes a wobble in the markets. Equally, we could just be seeing markets being set up for a strong end to the week if Chair Powell says anything remotely dovish that excites traders once more. Positivity in PMIs not going to last Outside of the US, it doesn’t seem there’s much to be optimistic about. European PMIs this morning, while marginally beating expectations in some cases, were pretty poor. The flash services PMIs for France and the euro area just about remained in growth territory but the trend suggests that’s only a matter of time. The UK services PMI was a positive surprise, falling only a touch from 52.6 to 52.5 against expectations of a much steeper decline. Unfortunately, not only was the manufacturing PMI frankly appalling, the performance of the far more important services sector is highly unlikely to last. A recession is coming, regardless. Steady after Friday’s tumble Bitcoin has stabilised a little in recent days following Friday’s sharp plunge. It appears to have run into support just above $20,000, around the same level it did back in late July. It’s also around the 61.8% retracement of the June lows to the August peak. As appears to be the case elsewhere, we may be seeing traders adopting caution ahead of Powell’s Jackson Hole appearance. A break below $20,000 could be a major blow. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Choppy trade - MarketPulseMarketPulse
Bearish Dominance Appears Again, Bitcoin Must Be Careful! BTC/USD

Bearish Dominance Appears Again, Bitcoin Must Be Careful! BTC/USD

InstaForex Analysis InstaForex Analysis 23.08.2022 16:36
Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Since last Friday, August 19, there has been an increased amount of liquidations which has had a key impact on the cryptocurrency market. Since then, bitcoin (BTC) has depreciated by more than 10%. The market capitalization of all digital assets fell below the $ 1 trillion mark again. At the time of writing this article, the rate of the first cryptocurrency is $ 21,000. This means a slight decrease during the day by almost 1%, although bitcoin is losing 12.24% of its value over the last week. Bitcoin's market cap is currently over $406 billion. However, despite the return of bearish dominance and hence the decline in rates, interest in long BTC positions remains at the highest levels in 12 months. Technical Market Outlook: The BTC/USD pair has been seen testing the lower channel line around the level of $21,000 as the bears are getting ready do break out below the lower channel line soon. The momentum is still weak and negative on the H4 time frame chart, bounces are shallow and the market is clearly controlled by bears that might accelerate the sell-off and test the swing low seen at the level of $17,600 again. The nearest technical resistance is located at the level of $22,410. Weekly Pivot Points: WR3 - $22,059 WR2 - $21,713 WR1 - $21,486 Weekly Pivot - $21,368 WS1 - $21,140 WS2 - $21,022 WS3 - $20,677 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Read more: https://www.instaforex.eu/forex_analysis/289563 Read more: https://www.instaforex.eu/forex_analysis/289563 Source: Forex Analysis & Reviews: Technical Analysis of BTC/USD for August 23, 2022 Read more: https://www.instaforex.eu/forex_analysis/289563
Bitcoin Is Going Sideways But We Still See The Bottom

Bitcoin Is Going Sideways But We Still See The Bottom

InstaForex Analysis InstaForex Analysis 23.08.2022 18:33
Company does not offer investment advice and the analysis performed does not guarantee results.The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Black line -resistance For a 3rd day Bitcoin price has made no real progress. After the sharp sell off from $24,000 to $20,800 Bitcoin has paused the decline and price is moving sideways. Bottoms are not formed in this way and that is why I give very little chances that we have seen the low in Bitcoin price. Bitcoin remains vulnerable to new lows below $17,600 as long as price is below the major resistance trend line. Bitcoin remains in a sideways price action with a slight positive slope. Bitcoin buyers will get another chance to buy Bitcoin at lower levels. This remains our key scenario.   Source: Forex Analysis & Reviews: Bitcoin remains for a third day around $21,300  
The Analysis Of Off-Chain Metrics Allows Cryptocurrency Supporters To Count On A Reversal

Shocking Prediction: Could Be Crypto Market Calm Until The End Of September!? DOGE-ETH Bridge Is Said To Be Launched This Year!

Alex Kuptsikevich Alex Kuptsikevich 24.08.2022 09:43
Market picture Bitcoin has added 2% in the past 24 hours to $21,400. Ethereum added 4.6% to $1640, while top altcoins added between 0.9% (Dogecoin) and 4.4% (Polkadot). Total cryptocurrency market capitalization, according to CoinMarketCap, rose 2.2% to $1.03 trillion overnight. The Cryptocurrency Fear and Greed Index fell 3 points to 25 by Wednesday and went from "fear" to "extreme fear". Unlike stock indices, Bitcoin has not fallen but has appeared as if it is disconnected from the market, having reached an equilibrium between the sell-off lows of late July at $20.5K and $22.5K. The technical picture looks like a consolidation before a new downward momentum, potentially to the lows near 17600. BTCUSD could update that low if the decline gets caught up in the storm of falling stock markets. But it is too early to bet on this. News background CoinShares strategy director Meltem Demirors believes that because of the holiday season, we should not expect significant changes in the cryptocurrency market until the end of September. According to SkyBridge Capital CEO Anthony Scaramucci, bitcoin cannot yet act as an asset to hedge inflation as adopting the first cryptocurrency is not enough. According to Arcane Research, Bitcoin could become one of the world's leading power consumers by 2040. Developers of the Dogecoin Foundation have reported that a DOGE-ETH bridge will be launched by the end of the year to move DOGE from the Dogecoin blockchain to the Ethereum network and back again.
Eurozone's Improving Inflation Outlook: Is the ECB Falling Behind?

Oil, Gold, Bitcoin (BTC) analysis. What could happen in the markets?

Ed Moya Ed Moya 09.05.2022 07:07
Oil Crude prices are steadily rising as the EU is making progress towards its Russia oil sanctions ban. The oil market will remain tight going forward now that OPEC+ is set on delivering meager output increases and as US production struggles despite rising rig counts. The biggest uncertainty for the crude demand outlook remains the outlook for the Chinese economy. China won’t be abandoning their zero-COVID policy anytime soon and that will keep the short-term crude demand outlook vulnerable. China’s COVID situation might not be improving anytime soon and now that the data is showing the impact of business restrictions is more widespread than just to Shanghai and Beijing. Oil will remain a volatile trade going forward with most of the fundamentals still pointing to higher prices. Gold Just when gold seems to be showing signs it is getting its luster back, the bond market says ‘not so fast’.  Gold continues to struggle in this current environment of surging global bond yields and that might last a little while longer as some central banks for the purpose of defeating inflation might be willing to send their respective economies into a recession. Gold’s awful few weeks of trade has seen a collapse of the $1900 level and that should prove to be key resistance now.  If the bond market selloff accelerates and the dollar surges, gold could be vulnerable to a drop towards $1835 and if that does not hold, $1800 might be targeted.   Bitcoin Confidence in crypto markets is waning after Bitcoin tumbled below the $37,000 level following the surge in global bond yields.  If risk appetite does not return, Bitcoin could be vulnerable to a significant drop towards the $30,000 level.  Choppy trading between $35,000 and $40,000 could be where Bitcoin settles if Wall Street does not price in much more tighter monetary policy by the Fed.
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Shocking News: You Won't Believe It! Crypto Mining In A Medical Facility!? | Bitcoin Price - Technical Analysis - 24/08/22

InstaForex Analysis InstaForex Analysis 24.08.2022 14:48
Relevance up to 09:00 2022-08-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: A hospital worker in Upper Altai, the capital of the Altai Republic in southern Siberia, was arrested for running a cryptocurrency mine in a medical facility. The mining equipment was launched at the beginning of last year, Russian news services reported. In February 2021, a man who worked as a chief information security officer installed cryptocurrency mining equipment and connected it to the hospital's servers that had previously been used to treat patients with Covid-19. According to a statement by the regional department of the Federal Security Service (FSB), mining equipment operated on stolen electricity for almost a full year, causing damage amounting to nearly $ 7,000. Law enforcement also noted that an IT expert decided to mine cryptocurrencies after experiencing financial difficulties. He quickly realized that he did not have the necessary computing power and energy at home, which prompted him to start mining at his workplace. During the searches in the suspect's home, police and FSB officers confiscated mining equipment and other computer equipment. A cryptocurrency miner whose identity has not been disclosed can get up to two years in prison for his crimes under the Criminal Code of the Russian Federation. Technical Market Outlook: The BTC/USD pair has been seen testing the lower channel line around the level of $21,000 as the bears are getting ready do break out below the line soon. The momentum is still weak and negative on the H4 time frame chart, bounces are shallow and the market is clearly controlled by bears that might accelerate the sell-off and test the swing low seen at the level of $17,600 again. The nearest technical resistance is located at the level of $22,410.     Weekly Pivot Points: WR3 - $22,059 WR2 - $21,713 WR1 - $21,486 Weekly Pivot - $21,368 WS1 - $21,140 WS2 - $21,022 WS3 - $20,677 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Read more: https://www.instaforex.eu/forex_analysis/289755
Bitcoin Maintains A Steady Bullish Potential

Crypto: Is Bitcoin Price... Stable At The Moment?

Craig Erlam Craig Erlam 24.08.2022 15:18
A relatively slow session so far in the middle of the week, with the focus very much still on the Fed and interest rates ahead of the Jackson Hole Symposium that kicks off tomorrow. It’s interesting that the fear of what could be said is seemingly having a far greater impact on sentiment and the markets than what has actually been communicated in recent weeks. Investors have repeatedly turned a blind eye to Fed commentary since the last meeting which has enabled stock markets to recover a lot of lost ground. It’s always hard to say how long that will last and whether it will continue as markets have spent much of the last year not on the same page as the Fed and as it’s turned out, for good reason. Any trepidation now may simply be a case of groundwork being laid for another rally later if Powell is deemed to be remotely dovish on Friday, intentionally or otherwise. The fact remains that Jackson Hole has on occasion in the past been used as a platform to send clear messages to the markets and not always one that is expected. That may be feeding some of the nervousness but if Powell is going to stick to the script and get through to the markets, he’ll need to do so far more convincingly than he and his colleagues have managed so far. Vulnerable with an eye on Jackson Hole Bitcoin remains quite stable after last Friday’s shock plunge. As is the case across financial markets, it seems traders have their sights set on Jackson Hole later this week to dictate the next moves. It continues to look vulnerable to a break of $20,000 which could be a painful blow but if Powell says anything that excites the risk-on crowd, we could see it quickly eat away at last week’s loss. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Cryptocurrency Market: Wow! Ethereum's The Merge Make The Network Use 99.95% Less Power!

Crypto: Bitcoin Price Development Is Going To Be Thrilling!

InstaForex Analysis InstaForex Analysis 24.08.2022 15:54
Relevance up to 11:00 2022-08-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Bitcoin managed to hold above the support level of $21,000 and rebounded slightly. As of August 24, the price reached $21,400 and continued to consolidate. At the same time, the Bitcoin network has not seen an increase in trading activity or an increase in the number of addresses. Considering this, we can assume that bears may try to retest the level of $21,000.     Bears managed to reach the important level of $21,000 and one more step closer to the retest of $20,000. During the last 5 days, the price has tested the level of $21,000 three times, which may indicate that it might break through this level soon. The technical indicators point to the high probability of a bearish breakdown of the level of $21,000. The stochastic oscillator completed a bearish crossover below 30 and the RSI is still declining below 40. Meanwhile, the MACD is declining in the red zone, indicating the emergence of a medium-term downtrend.     Despite clear factors pointing to further price declines, there is a possibility of an uptrend. It is based on the movement of the DXY index. The index reached the level of 109, but at the end of August 23, failed to break through that level and closed the day with a red candlestick. A failure of the DXY index could be a window of opportunity for Bitcoin, which got a chance to end the day with an uptrend. However, this probability is very low given the fact that the red candlestick on the DXY daily chart could not even overlap the previous bullish candlestick in volume, indicating a continued bullish sentiment for DXY.     Stock indices also continue to decline within a bearish trend. The S&P 500 index has reached the support area at $4,100, but technical indicators point to further downside. The stochastic oscillator and the RSI continue a strong downtrend peak and the MACD has formed a bearish crossover, indicating that a medium-term downtrend is forming. Given the SPX and DXY movements, Bitcoin should prepare for a drop below $21,000 in the near term.     Another important reason that could play both for and against Bitcoin is the Fed symposium. Market participants expect that Fed Chairman Jerome Powell will announce the key theses, which will allow to the markets draw certain conclusions about the future of the market and the Fed policy. Analysts forecast a negative outcome of the event and announcement of these may aggravate the current downturn in the markets. It is reported that Powell may confirm the Fed's desire to accelerate the reduction of balance sheets and further plans to raise the key rate.     Given the current situation, we should expect a decline in trading activity before Powell's speech on August 25-27. The general direction of the cryptocurrency market and investor sentiment suggests that Bitcoin and other crypto assets may decline in the coming days. It is impossible to predict the impact of Powell's rhetoric on the market but sharp price movements are likely to occur due to a significant increase in volatility. We will see by the end of the current trading week where the price may go.   Read more: https://www.instaforex.eu/forex_analysis/319781
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Market rebound did not attract new investors: what this means for Bitcoin?

InstaForex Analysis InstaForex Analysis 24.08.2022 16:06
Relevance up to 09:00 2022-08-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Bitcoin made a powerful fall to the $20.7k–$22k range, where it continues to move in a flat and tries to realize local impulses. However, in general, after a bullish period provoked by a number of factors, Bitcoin and the entire market returned to its original state in mid-June. Glassnode experts also note that, despite a powerful rebound, where the main cryptocurrencies managed to reach local highs, there was no significant influx of new investors.     Analysts noted that after Bitcoin formed a local bottom at $17.7k, the market moved into a phase of local recovery. It lasted for about a month and ended with a downward breakdown of the $23.5k BTC level. Glassnode experts confirm that positive fundamental news has become the main source of Bitcoin growth. This indicates the impulsive nature of growth and does not correspond to the classic upward trend. The second important signal indicating an imminent fall in BTC/USD quotes was low trading volumes during the upward movement of the cryptocurrency.     An important part of the upward movement of the main cryptocurrency was the correction of the DXY index, which strengthened significantly after the Fed tightened monetary policy. Bitcoin has an inverse correlation with this index, and, therefore, the monthly correction of the dollar index provoked an easing of pressure on the crypto market. However, the true reason for updating the local high of BTC is due to several reasons. And the main one is the macroeconomic situation, which remains unpredictable and changes at an astounding rate.     Among the unexpected but important factors that contributed to the growth of the crypto and stock market are the economic problems of the European Union. In mid-July, the EUR went below 1 against the US dollar. This forced the Fed to suspend its quantitative reduction policies and release large amounts of USD into the markets. In other words, the Fed deliberately weakened the US dollar to stabilize the situation with the currencies of other countries. As a result, the DXY correction increased significantly, which allowed Bitcoin to continue its upward movement.     As of August 24, we see a continuation of the DXY upward trend and a new stage of correction in Bitcoin and the cryptocurrency market. Many analysts point to a movement towards the local bottom and even an update of this indicator. However, at the same time, the cryptocurrency market is approaching the historical update of Ethereum called Merge. Capriole Investments founder Charles Edwards said that mining companies have passed the capitulation stage, and the volumes they sell do not affect the price of BTC.     On the macroeconomic front, there are also prerequisites for a likely change in the Fed's monetary policy. Over the past month, inflation fell by 0.6%, but at the same time, the regulator continued to withdraw liquidity and raise the rate. However, the ECB said that the aggressive rate hike did not help the EUR and the European economy. As a result, the euro once again caught up with the US dollar, which may force the Fed to change its monetary policy again. Given that the peak of inflation has passed and the risk of a recession is increasing, the monetary policy of the US regulator may change as early as September, which will give a positive impetus to the crypto market.     In the current situation, Bitcoin and the cryptocurrency market will have to go through another serious downturn. However, given the normalization of the overriding factors that contributed to the BTC price crash, such as miner capitulation, the $20k key milestone will remain intact. Ethereum also remains in demand among institutional investors and miners, whose stocks have updated a three-year high. With this in mind, the main fundamental factors indicate that a new recovery phase of the crypto market will begin in the fall.   Read more: https://www.instaforex.eu/forex_analysis/319763
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Bitcoin Holders Are Withdrawing Their Capital From Exchanges!

InstaForex Analysis InstaForex Analysis 24.08.2022 16:15
Relevance up to 09:00 2022-08-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. According to the latest data on the outflow of the exchange from Arcane Research, crypto holders are not interested in trading their tokens and, instead, prefer to keep their BTC safe on cold wallets. The events in the crypto market in 2022 caused many to rethink their risk management practices as the collapse of decentralized finance protocols and bankrupt centralized finance platforms exposed the truth that there is no privacy, no keys, no cryptocurrencies. As a result of blocking or loss of funds, bitcoin holders began to withdraw their capital from exchanges at an astounding rate. According to a report published by Arcane Research, deposits began to flow away from both crypto exchanges and lenders. Arcane Research cited the collapse of Terra Luna. This includes the now-defunct crypto hedge fund Three Arrows Capital, crypto lender Celsius, and crypto brokerage Voyager, which are now in bankruptcy. As these firms collapsed, client funds were blocked and could not be withdrawn, and it is becoming increasingly likely that this will be a complete loss for many of the participants. Because of this, years spent building trust in exchanges and lending platforms have evaporated, and crypto holders have begun withdrawing their funds en masse from both crypto exchanges and lenders. The net outflow from exchanges in June was 119,000 bitcoins. This was the highest outflow since November 2020. July also saw a massive outflow, with 96,000 bitcoins being withdrawn from exchanges. The outflow of funds from the exchange continued in August, and 65,000 bitcoins were withdrawn in the first 22 days of the month. As a result of the outflow, the number of bitcoins held on exchanges is now at its lowest level since July 2018.Investors are also more reluctant to invest in cryptocurrency investment products, as the latest report from Coinshares shows that the outflow of funds from digital asset investment products was $8.7 million for the week. Overall, while crypto holders continue to hold on to their beliefs about the future of the asset class, they are reluctant to trust others to hold their tokens and have instead reverted to the original crypto idea of being their own bank. Source: Forex Analysis & Reviews: Bitcoin holders are leaving crypto exchanges en masse
The Bitcoin Price Movement Is In The Bullish Channel

Bitcoin To US Dollar - Technical Analysis - 25/08/22

InstaForex Analysis InstaForex Analysis 25.08.2022 10:03
Crypto Industry News: Cryptocurrency bulls seem sleepy ahead of Friday's Jackson Hole conference. At the same time, on August 26, Bitcoin traders' options worth almost USD 1 billion will expire, which may result in volatility depending on the valuation of the cryptocurrency on that day. The king of cryptocurrencies has still not tried for good to attack levels close to the 200 session average below which it slipped last week, causing a massive wave of liquidation of leveraged positions of traders in the cryptocurrency market. Let's take a look at the options market again and the key resistance for Bitcoin to answer the question where the 'king of cryptocurrencies' could land at the end of this week? The liquidation of the aggressive investors took place during the fall to USD 20,800 which began last week, where the price of Bitcoin landed just after breaking the USD 25,000. This meant a 16.5% drop between August 15-19. The declines in fuels added to the dismal conditions in the real estate market in China, as well as concerns about the further cycle of monetary tightening in the US. It is hard to imagine that the Bitcoin correlating with the indexes would show divergence, so the declines on the American stock exchange each time bring with them a weakening of cryptocurrencies. This week, August 26, nearly $ 1 billion worth of options will expire, and demand has held support at $ 20,800, preventing supply from crossing the red line. The bulls hope their expiration will clear the way for cryptocurrencies north. Technical Market Outlook: The BTC/USD pair has been seen testing the lower channel line around the level of $21,000 as the bears are getting ready do break out below the line soon. The momentum is still weak and negative on the H4 time frame chart, bounces are shallow and the market is clearly controlled by bears that might accelerate the sell-off and test the swing low seen at the level of $17,600 again. The nearest technical resistance is located at the level of $22,410.     Weekly Pivot Points: WR3 - $22,059 WR2 - $21,713 WR1 - $21,486 Weekly Pivot - $21,368 WS1 - $21,140 WS2 - $21,022 WS3 - $20,677 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 08:00 2022-08-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/289928
Crypto: Fed's Fight With Inflation May Lead To Decline Of Crypto Prices

Crypto: Fed's Fight With Inflation May Lead To Decline Of Crypto Prices

Geco One Geco One 25.08.2022 11:25
Bitcoin Statements from members of the US Federal Reserve suggest they are leaning to support the third consecutive 75bp rate hike in September. They will not stop tightening until they are "fully convinced" that overheated inflation is falling, contributing to a marked decline in cryptocurrency prices. Only during last Friday's session Bitcoin dropped by more than 10%, increasing the range lasting from August 15 this year depreciation to over 17%. Such a significant sell-off caused Bitcoin to slide below the horizontal support of $ 22,500 and below the upward trend line, the lower limit observed since the mid-June parallel growth channel. There was some upward rebound last weekend. Its dynamics, however, is so modest that this increase will probably not even exceed the previously defeated support (now resistance) of $ 22,500, after which the market will return to the downward path. If this happens, the Bitcoin price could drop to $ 19,000, which would be the lowest since mid-July. Considering the significant impact of the last week's statements of the Federal Reserve representatives on the BTC quotations, one can assume that an exhilarating month in the cryptocurrency market is ahead of us. The annual symposium in Jackson Hole will take place this Thursday and Friday, during which (on Friday) the Fed president will deliver his speech. He may then provide some hints on the September meeting of the Federal Open Market Operations Committee (FOMC), during which a decision will be made on the scale of the following federal funds rate hike. In addition, on September 2 and 13, 2022, we will get to know the latest reports on employment changes in the US non-agricultural sector (NFP) and consumer inflation (CPI) in the US, while the FOMC mentioned above meeting will be held on September 21 this year. Ethereum Looking at the Ethereum quotes, we can see that the price of this cryptocurrency has fallen by almost 25% in recent days, breaking the bottom of the upward wedge formation and sliding below the technical support of $ 1780. This sell-off only stopped below $ 1,600, where there was a slight demand reaction last weekend, which could signal a potential for at least a corrective upward rebound towards $ 1,780. However, it cannot be ruled out that the gains will not reach the recently defeated support (now the resistance), and the ETH rate will return to the downward path without any correction. If this sale continues, the ETH rate could soon return to around $ 1,400 or even fall further to $ 1,250. Litecoin Litecoin's quotations have fallen by almost 20% recently, slipping below the technical support of $ 57.50 and breaking the bottom from the upward wedge pattern observed since mid-June this year. The sell-off halted around $ 54 technical support, where a demand reaction surfaced last weekend, triggering an upward correction rebound towards $ 57.50. We are currently seeing a test of this resistance. However, considering that this level coincides with the measurement of 38.2% Fibonacci retracement, it seems highly probable that its rejection could initiate another downward rally towards USD 47 or even USD 42.
Bitcoin Has Strong Sign That Buyers Are In Control

Nvidia Stocks Dived 4,5 % In The Afterhours Trading! Swissquote

Swissquote Bank Swissquote Bank 25.08.2022 12:13
Nvidia earnings released after the market close were in line with the downside-adjusted market expectations, but the current quarter sales forecast fell $1 billion short of expectations. Nvidia stock dived 4.5% in the afterhours trading, and brought forward the pricing of the ‘end of the chip shortage’. But, it is still too early to call the end of the rare chips, as chips for industrial use, cars and machineries remain difficult to find. Here is, as promised, more on that subject: https://medium.com/swissquote-educati... Elsewhere, stocks were flat yesterday. Even though the US futures are up this morning, the direction remains unclear, and conviction low before the much-expected Jerome Powell speech at the Jackson Hole meeting in the coming hours. The dollar is off the early-week peak, gold and Bitcoin consolidate, while crude oil is preparing to test the 200-DMA to the upside. Hence, energy stocks extend gains along with nat gas and nuclear stocks! Watch the full episode to find out more! 0:00 Intro 0:27 Nvidia’s sales forecast falls $1 billion short of expectations! 1:40 Is the chip shortage over yet? 2:40 Market update 3:56 Crude up, oil, nat gas & nuclear stocks race to the top 6:46 USD softer, EUR firmer before ECB minutes 8:00 Gold & Bitcoin traders await Powell speech for direction Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Nvidia #chip #shortage #Fed #Jerome #Powell #JacksonHole #enegry #crisis #crude #oil #natural #gas #nuclear #stocks #USD #EUR #ECB #minutes #XAU #Gold #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH   Source: Nvidia upsets, again. But chip shortage is not over yet! | MarketTalk: What’s up today? | Swissquote
Shell's H1 2023 Performance and CEO's Bold Stance on Renewable Energy

Peter Jacimovic Comments On BTC/USD, GBP/USD And More!

InstaForex Analysis InstaForex Analysis 25.08.2022 13:21
Watch for the breakout mode on GBP/USD...   Relevance up to 10:00 2022-08-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/video_analysis/289970
Crypto: What Is Ledgerverse? A Revolution In The Education About Cryptocurrencies' Security!? Bitcoin Price - Technical Analysis - 26/08/22

Crypto: What Is Ledgerverse? A Revolution In The Education About Cryptocurrencies' Security!? Bitcoin Price - Technical Analysis - 26/08/22

InstaForex Analysis InstaForex Analysis 26.08.2022 10:44
Crypto Industry News: Ledger, a French cryptocurrency wallet maker, announced a partnership with The Sandbox. Its fruit is to be Ledgerverse - dedicated cyberspace in the Metaverse, which will educate people about the security of cryptocurrencies. Users will learn how to protect their digital assets at a time when hacker attacks on the blockchain market are increasingly occurring. What's more, the cooperation with The Sandbox involves the creation of a game called "The School of Block". Its purpose is to make people aware of the dangers that lurk in the world of cryptocurrencies. The participants of the game will fight cybercrime, for which they will receive exclusive NFT rewards in the game. Ledgerverse is Ledger's first Metaverse initiative to be developed in collaboration with The Sandbox and Swipe Back, the Metaverse creative agency. Ledgerverse will be a digital land in the Metaverse Sandbox where players must navigate the map using their cryptocurrency security knowledge. Technical Market Outlook: The BTC/USD pair has been seen testing the lower channel line around the level of $21,000 as the bears are getting ready do break out below the line. The momentum is still weak and negative on the H4 time frame chart, bounces are shallow and the market is clearly controlled by bears that might accelerate the sell-off and test the swing low seen at the level of $17,600 again. The nearest technical resistance is located at the level of $22,410, but so far the highest level hit by bulls was $21,903. Waiting game continues. Weekly Pivot Points: WR3 - $22,059 WR2 - $21,713 WR1 - $21,486 Weekly Pivot - $21,368 WS1 - $21,140 WS2 - $21,022 WS3 - $20,677 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Relevance up to 08:00 2022-08-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290115
The G20 And IMF Are Already Preparing Their Crypto Regulation

Coinbase's CEO: "(...) cryptocurrencies would be integrated everywhere, as the internet has previously been (...)"

Alex Kuptsikevich Alex Kuptsikevich 26.08.2022 11:28
Market picture Things are slow now in crypto, with a slight downward bias for the second day. Bitcoin is losing 1.5% to $21.4K in the last 24 hours. Ethereum is unchanged for the same time, remaining at $1680. Top altcoins show mixed dynamics, ranging from a 4.1% decline (Solana) to a 2.6% increase (Cardano). Total cryptocurrency market capitalisation, according to CoinMarketCap, was down slightly, by 0.1% overnight, to $1.04 trillion. The Cryptocurrency Fear & Greed Index rose 2 points to 27 by Friday and moved into "fear" status from "extreme fear". Bitcoin lags behind the equity market and altcoins on Thursday and early trading on Friday. And now, it is crucial to understand whether this is a formidable warning of domestic weakness in the latest demand for risky assets. Alternatively, the poor performance of the first cryptocurrency might be its own problem. But it would break the trend of recent months, where Bitcoin has often acted as a leading indicator for the global equity market. News background Coinbase CEO Brian Armstrong said that eventually, cryptocurrencies would be integrated everywhere, as the internet has previously been, and the catalyst for their universal adoption will come from large tech companies. Vitalik Buterin Ethereum co-founder Vitalik Buterin believes that people underestimate how much cryptocurrency payments are superior to other traditional payment instruments. One of the world's leading technology companies, South Korea's Samsung, is serious about entering the crypto market by launching its cryptocurrency platform in the first half of 2023. Olli Rehn, governor of the Bank of Finland, said the digital euro and the use of private financial technology could make cross-border payments easier in Europe.
Navigating the New Normal: Central Banks Grapple with Policy Dilemmas

Bitcoin And Crypto Market In General Most Probably Some Dovish Signs

Craig Erlam Craig Erlam 26.08.2022 14:30
The day we’ve all been waiting for has finally arrived as Jerome Powell prepares for his keynote speech at Jackson Hole. I have no doubt Powell will have chosen his words very carefully today, all too aware of the consequences of even the smallest deviation in his intended message. It’s a little ridiculous that markets put so much weight on such things but that is the situation we are in and I expect the Fed Chair will be very clear in the message he wants to send. The difficulty for Powell stems from the fact that there’s the message investors desperately want to hear and the one they’ve repeatedly ignored since the July Fed meeting. The “dovish pivot” played nicely into the hands of the perma-bulls that have waited impatiently for the stock market to recover this year. Despite policymakers’ best efforts, attempts to correct this narrative have been brushed aside and the view today is that Powell may try to address this in a more forceful and convincing way. If he fails or gives the slightest impression that there is any substance to the dovish pivot narrative, we could see yields slip and stock markets end the week on a high. That could come intentionally, or otherwise, but investors will be clinging to his every word for even the slightest hint. Especially in light of the recent inflation reading. No pressure. Plenty of US economic data ahead of Powell’s speech While I’m sure that would be enough excitement for one day, there’s plenty of economic data due from the US later that will have a big role to play as well. Ahead of the speech, we’ll get income, spending and core PCE price index data, the latter of which is the Fed’s preferred inflation measure. The timing couldn’t be better. The UoM consumer sentiment survey is also released around the time his speech starts which will also be interesting, given that it’s languishing near its lowest level in decades even as actual spending remains strong. Sterling slips after eye-watering energy price cap rise and forecasts The pound fell this morning after it was confirmed by Ofgem that the energy price cap will rise by 80% in October, taking the average annual household energy bill to £3,549. It’s the moment many have feared for months and to make matters worse, the eye-watering hike was accompanied by a warning that prices are continuing to rise ahead of the next revision in January, with Cornwall Insight suggesting the cap could hit £6,616.37 next year. While looking that far ahead leaves enormous room for error if this year is anything to go by, that is devastating for so many and will require immense government support. It will also make the job of the Bank of England horrifically hard, with its previous projection of inflation this year peaking at 13.3% now looking unrealistically optimistic. Five quarters of contraction may also start to look like the optimistic scenario at this rate. Japanese inflation rises but BoJ to remain calm Contrast that with inflation in Japan, where the Tokyo CPI rose to 2.9% y/y in August and only 1.4% ex-fresh food and energy. It’s no surprise the central bank is pushing back against the need to tighten monetary policy at this point in time. Of course, it’s easy to say that when the pressure on the currency and bond yields have eased to the extent they have over the last six weeks. That could well change if Powell strikes a hawkish tone today and triggers another jump in yields and the dollar. Crypto hoping for dovish Powell Everything I write about at the minute seems to require the need to reference back to Jackson Hole and Fed Chair Powell and bitcoin is no different. Last Friday’s sell-off has left bitcoin vulnerable ahead of today’s speech and crypto bulls will be hoping for anything dovish that could help it get back on its feet. The opposite could see $20,000 come under pressure. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. All eyes on Jackson Hole - MarketPulseMarketPulse
Bitcoin Maintains A Steady Bullish Potential

Crypto: Bitcoin Price Is Vigilant To Powell's Rhetoric!

InstaForex Analysis InstaForex Analysis 26.08.2022 15:16
Everything is at stake! Many financial market assets are ready to go all in, depending on what Jerome Powell says at Jackson Hole. And bitcoin is no exception. Sensitively reacting to the dynamics of American stock indices, and recently to the dynamics of the US dollar, the cryptocurrency needs to indicate the direction of further movement. And who can do it better than the chairman of the Federal Reserve? While Goldman Sachs believes that Powell will present the case for lowering the rate of monetary restriction, JP Morgan believes that he will not be able to surprise with overly aggressive hawkish rhetoric. Both options are positive for risky assets, including equities and crypto assets. Moreover, history shows that the USDBTC downward trend may be about to come to an end. The bear markets of 2014 and 2018 lasted an average of 12–13 months, with a maximum drawdown of 85%. Today, the token has fallen by 70% from the November high, and its peak continues for almost 300 days. On the other hand, September is a seasonally weak period for the crypto industry leader. Bitcoin has consistently closed in the red for the past five years and has declined by an average of 10%. Bitcoin Dynamics in September     This circumstance increases the demand for insurance against BTCUSD quotes falling below 18,000 and 15,000. Interest in options with these strikes has increased significantly, as well as the number of premiums for them. An analysis of the derivatives market also shows the maximum open interest near the psychologically important mark of 20,000. Its breakthrough may provoke a surge in hedging operations, which will take the cryptocurrency significantly lower. The recently increased correlation with the US dollar does not promise a quiet life for bitcoin. In order to achieve its goal of returning inflation to 2%, the Fed must tighten financial conditions, and for this, Powell needs to convince the markets that the federal funds rate will rise to 4% and remain at or above this level for a long time. This creates a tailwind for the US currency and will put pressure on BTCUSD. Dynamics of the US dollar and Bitcoin         In my opinion, without a steady growth above 25,000, it is premature to talk about breaking the downward trend for the analyzed asset. On the contrary, there are increased risks of its further decline towards 18,000. It is doubtful that Jerome Powell in Jackson Hole will spare stock indices, the fall of which will negatively affect the entire cryptocurrency sector. Technically, on the daily chart of BTCUSD, the Three Indians reversal pattern has clearly worked out the revelations in previous materials. It allowed us to form short positions on the token from the level of 24,000. A successful assault on the support at 20,900 will allow building them up based on the exit from the cluster within the framework of the Ross Hook model. The pivot points at 19,800 and 17,800 act as targets for the downward movement. On the contrary, the growth of bitcoin above 22,200 may become the basis for profit taking on shorts and a reversal.   Relevance up to 11:00 2022-08-31 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320020
ByBit talks Grayscale Bitcoin Trust. How Does GBTC work?

Crypto: BTC/USD - Technical Approach Suggests Continuation Of Declining

InstaForex Analysis InstaForex Analysis 26.08.2022 15:21
Technical analysis: BTC/USD has been trading downside as I expected. There is the breakout of thee tight consolidation and triangle, which is very good confirmation for further downside movement. Trading recommendation: Due to the breakout of the triangle pattern and strong supply in the background, I see further downside movement. Watch for potential selling opportunities on the intraday rallies with the downside objectives at the price of $20.800 and $19.000. Stochastic is downside reading with no evidence for the reversal.... Key short-term resistance is set at the price of $21.900 Relevance up to 13:00 2022-08-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290179
Bullish Dollar Sentiment Prevails Amid CFTC Report and Rate Hike Expectations

Jackson Hole Reaction: No doves allowed, ECB hike expectations rise, Oil slumps, Gold lower, Bitcoin dips below $21k

Ed Moya Ed Moya 27.08.2022 17:14
US stocks declined after Fed Chair Powell delivered a short and clear message that they will continue to raise rates and hold them at a higher level until they are confident inflation is under control. The market reaction was for rate cuts to get priced further out and a minimal boost for additional pricing to get done before the end of the year.  Powell is not budging on having restrictive policy and that should mean the economy will steadily weaken going forward.  Powell drove home the point that when they are done raising rates that we should expect them to stay there for a long period of time.  The terminal rate may need to be higher, but for now it seems we might not need to worry about rates rising into the 5% range. There was no dovish pivot, but it seems financial markets are getting close to fully pricing in the remaining Fed rate hikes. Downside for equities may remain limited if inflation pressures continue to ease sharply.        Pre-Powell Speech There was no calm before the Jackson Hole speech storm.  The euro surged after reports that some ECB officials want to discuss a 75 basis-point rate increase in September.  A wrath of Fed speak also confirmed the data-dependency stance for determining the magnitude of rate hikes. Fed’s Bullard, one of the more hawkish members, noted that pulling rate hikes forward is appropriate and that the pace of rate increases matters. Fed’s Bostic stated that if the data is strong, they could lean towards a 75 basis-point hike next month and that if data is softer like the PCE today, he will lean towards a half-point increase.  Bostic added that we are not in a restrictive range yet which is probably 3.5-3.75%, but that they hope to get there by year end. Fed’s Harker said that the Fed must move ‘methodically’ to a restrictive stance.  Powell’s Jackson Hole Speech This was an easy Jackson Hole speech.  Fed Chair Powell clearly explained in order to bring down inflation, we should expect higher rates, slower growth, and a softening labor market.  Powell did not say anything to change the data-dependency over what will lead to shifts in the pace of tightening but he did warn against premature loosening.  Powell noted it will be appropriate at some point to slow the pace of tightening, but that doesn’t seem like it will happen anytime soon.  The 2-year note yield rose 4.1 basis points to 3.407% and will probably have another 30 basis points to go over the next couple FOMC decisions.  US Data The US consumer is weakening and hopes for a robust third quarter rebound might be overdone.  Personal income rose 0.2%, much less than the 0.6%, while spending increased by 0.1%, well below the expected 0.5% consensus estimate.  July headline inflation came in at -0.1%, while the year-over-year fell from 6.8% to 6.3%.  The August University of Michigan final readings also showed inflation expectations fell more than expected, with the 1-year outlook dropping to 4.8% and the 5-10year expectations ticking lower to 2.9% This round of economic data along with all the Fed fireworks still suggests it will come down to the September 13th inflation report to determine if they will deliver another 75-basis point rate increase or only a half-point one.    Energy Crude prices went on a kiddie roller coaster after softening US economic data, a Jackson Hole speech that has the Fed committed to restrictive policy that will eventually get this economy into a recession. Despite today’s weakness, the oil market is still tight and a break below the $90 level is not warranted.   The next big in crude will likely be determined by the demand side and that will draw extra attention to China’s factory activity data.    It is important to pay close attention to the political pressure growing in Europe to do something about the global energy crisis.  The Czech Republic is expected to call an extraordinary meeting of energy ministers to combat the surge in power prices.  The pressure is on for decisive action and that could lead to emergency measures that might cap the move higher with energy prices.  Gold Gold prices declined as Treasury yields rose after Fed Chair Powell stuck to the hawkish script.  The short-end of the Treasury curve rose as investors anticipate no dovish pivots for the rest of the year.  Gold is vulnerable here as the Treasury yields could gain further momentum next week if the labor market remains healthy.  The risks of one last major move lower remains for gold, but then prices should stabilize quickly as financial markets will be more confident in pricing in the remaining Fed rate hikes.  Bitcoin Bitcoin weakened after Fed Chair Powell didn’t blink with his reiteration that the Fed will tighten policy to bring down inflation.  Risky assets are struggling as Powell’s fight against inflation will remain aggressive even as it will trigger an economic slowdown. Bitcoin is tentatively breaking below $21,000 and momentum traders will wait to see if the risk aversion sends prices towards the $20,000 level.   This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Jackson Hole Reaction: No doves allowed, ECB hike expectations rise, Oil slumps, Gold lower, Bitcoin dips below $21k - MarketPulseMarketPulse
What Should We Expect From The Bitcoin Formation In The Near Future?

Bitcoin has failed to break through the $24,350 level in more than a month

InstaForex Analysis InstaForex Analysis 28.08.2022 21:51
  Over the past couple of weeks, the cryptocurrency has fallen by $ 5,000. Recall that we have repeatedly talked about $ 24,350 as a strong resistance level in recent articles. Bitcoin has tried to overcome it three times to continue the kind of correction it has been in for the past 2.5 months. The total "bitcoin" is adjusted for such a period by $ 7,500. Is it necessary to say that the movement of $ 7,500 in 2.5 months is a meager amount for the first cryptocurrency in the world? But the most important thing is something else – bitcoin failed to overcome the level of $ 24,350, failed to overcome the Senkou Span B line, and failed to overcome the trend line. Therefore, everything shows that the decline in its quotes will continue for at least several months. We also remind you that we support the option of a further drop in the "bitcoin" and believe it can drop to $ 10,000 per coin, or maybe even lower. Now no one doubts that the "bullish" trend is over. Therefore, we are inside the "bearish" trend. And any trend on a 24-hour TF is at least a year or two old. Thus, now the nearest target for the fall is the last local minimum near the 127.2% Fibonacci level (marked in the illustration). Next, traders will try to take the cryptocurrency to $ 12,426. It will be some intermediate limit to the fall. I want to note that Bitcoin is already at very low levels. For example, many analytical agencies call the level of $ 20,000 the cost of bitcoin mining (of course, an approximate or weighted average since electricity costs differ in different places). Thus, right now, bitcoin is relatively cheap, but for some reason, investors and institutions are in no hurry to buy it at attractive prices. From our point of view, this is a very important point. If large and medium-sized players expected that the "bearish" trend would end in the near future, they would have started buying the "bitcoin" in advance. But they don't, which means they expect a new fall. Also, for some reason, there are no predictions that bitcoin will soon conquer the world's financial system, displace all fiat money, and cost $ 100,000 per coin.     In the 24-hour timeframe, the quotes of "bitcoin" could not overcome the level of $ 24,350 and fell below the Ichimoku cloud. Thus, the target for a new fall is the level of $ 12,426. We believe there are still no technical grounds for growth, and the rate of 5–10 thousand dollars per coin will become a reality in 2022. Moreover, there was not even a single attempt to gain a foothold above the trend line. A rebound from $ 24,350 is a new signal for sales, and consolidation below $ 18,500 will confirm this signal. Relevance up to 07:00 2022-08-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320089
Bitcoin Maintains A Steady Bullish Potential

"Technology" now gives a huge number of signals for the sale of bitcoin

InstaForex Analysis InstaForex Analysis 28.08.2022 21:53
  On the 4-hour TF, it is even better to see that bitcoin has not managed to surpass $ 24,350. And there were quite a lot of attempts. A weak ascending channel supported the further growth of quotes until recently, but the "bitcoin" dropped below it just yesterday. It means that we have another sell signal at our disposal. Recall that several sell signals were formed on the 24-hour TF. Thus, no matter what TF you look at now, the technical picture says the same thing everywhere. And what about the "foundation"? Those who regularly read our articles should be aware that the key factors in the fall of the euro and the pound (as risky currencies) were the divergence in monetary approaches between the Fed and the ECB with BA, as well as geopolitics. The US dollar was, is, and will be the safest currency, no matter how the Fed pumps up its economy with unsecured dollars (especially since the ECB, BA, and other central banks of the world also did this very actively during the pandemic years). Thus, in "difficult times," it is in demand as a safe asset. Accordingly, the demand for risky assets is falling. And it is difficult to find an asset even riskier than bitcoin. Thus, the geopolitical factor alone is enough for bitcoin to continue flying into the abyss. Also, raising the Fed's key rate plays a very important role. With a rising key rate, demand is growing for bank deposits and treasury bonds, while stocks and cryptocurrencies are falling. If the US stock market is still trying to show growth from time to time, which is probably due to the flow of capital from Europe to the States, then the cryptocurrency market is one, and no one is in a hurry to pour their capital from relatively safe and secured assets into a "dummy."     Unfortunately, after 14 years of existence, bitcoin has not become a "pillar" of the global financial system and has been unable to displace fiat money anywhere (except in El Salvador). For many, bitcoin remains an "investment toy," a tool with which you can earn a lot of money in a relatively short time. As a currency, it is mostly used for payments on the Internet, and even then, it is often for "gray" and "black" transactions. Of course, we do not mean payments for amounts equivalent to $ 100 or $ 1,000. They are too small to be taken into account at all. Thus, for the growth of bitcoin, you need to wait for a favorable fundamental background. And it can be formed only when the Fed at least stops raising the key rate. On the 4-hour timeframe, the quotes of "bitcoin" apparently completed an upward correction. We believe that the decline will now continue. In this case, the first target for sales will be the level of $ 17,582, which is the last local minimum. Next, the overall goal for the two timeframes is $ 12,426. Relevance up to 08:00 2022-08-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320091
The Bitcoin Price Movement Is In The Bullish Channel

Bitcoin: Jerome Powell helps bears

InstaForex Analysis InstaForex Analysis 28.08.2022 21:55
  In previous articles, we have already figured out why bitcoin will likely continue declining. In addition to a whole pile of technical signals for sale, there are a fairly large number of fundamental signals. For example, on Friday, Jerome Powell gave a speech at a Jackson Hole conference. Before we analyze it in detail, we recall that any tightening of the Fed's monetary policy contributes to the fall of cryptocurrencies, particularly "bitcoin." Any hint of tightening monetary policy also works against bitcoin. And on Friday, the markets, we can say, got both. Jerome Powell confirmed that the Fed's monetary policy would remain tight and the monetary approach would remain aggressive. In other words, the Fed will not stop raising the rate in the coming months, as it is now completely unclear whether inflation in the US will continue to slow down or whether the August report was just an accident. Of course, after the publication of the September inflation report, it will become a little clearer what is happening now with the consumer price index. But it's still a long way off, and Powell's performance has already taken place. However, the head of the Fed did not pour promises and specifics in all directions. He noted that much would depend on statistical data, clearly referring to inflation reports, not GDP reports. The growth of the American economy was secretly decided to be neglected in favor of the return of inflation to the target level of 2%. All this suggests that the main cryptocurrency may continue its decline. Geopolitics is also worth noting. A month ago, a new conflict almost broke out on the world map. Then skirmishes began on the border between Serbia and Kosovo, a partially recognized state. Recall that Kosovo appeared on the world's political map after the collapse of Yugoslavia. Since ethnic Serbs remain living on the territory of Kosovo, special treatment is required for them, according to Belgrade. But in Pristina, they believe that the same rules and regulations should apply to everyone in Kosovo. In particular, we are talking about documents used on Kosovo's territory, money, and rules of entry into the country. Pristina is unhappy that many Serbs continue to use Serbian money on the territory of Kosovo, continue to enter and leave using Serbian documents, and are not eager to give them up. On August 1, a law was supposed to come into force that obliges everyone living on the territory of Kosovo to use only Kosovo documents and money. Then, the conflict had almost flared up, but under the influence of NATO, it was possible to postpone the law's entry into force for one month. And now, this month has almost expired, and Serbia is moving heavy military equipment to the border with Kosovo with might and main. Naturally, the deterioration of the geopolitical situation may cause an even greater drop in demand for risky assets. Relevance up to 09:00 2022-08-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320093
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Cryptocurrency: Bitcoin Price (BTC/USD) - Technical Analysis - 29/08/22

InstaForex Analysis InstaForex Analysis 29.08.2022 10:35
Crypto Industry News: Bitcoin's price has fallen by about 5% after Friday's speech by US Federal Reserve Chairman Jerome Powell in Jackson Hole, Wyoming. He said the central bank would "definitely use its instruments" and it would take some time to fight inflation. Powell discussed the importance of price stability during the meeting. He stated that this is the "backbone of the economy" and that without it, the economy would not benefit anyone. He stressed that price stability must be restored and maintained, but until the economy reaches this point, "it will be harder for households and businesses. Powell said: "These are undesirable costs of controlling inflation. However, not restoring price stability would have had a much worse effect." This year, the price of Bitcoin has been shaken by massive liquidation of the market. The asset is -70% below its all-time high of $69,045 of last November. Technical Market Outlook: The BTC/USD pair has fallen out from the ascending channel around the level of $21,000 and after the Powell statements, the bears had pushed the prices below the level of $20,000. The next target for bears is seen at the level of $18,940 (technical support from July 13th) and $18,640 (technical support from July 1st). The momentum remains weak and negative, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice.     Weekly Pivot Points: WR3 - $20,566 WR2 - $20,144 WR1 - $19,963 Weekly Pivot - $19,722 WS1 - $19,540 WS2 - $19,300 WS3 - $18,878 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Relevance up to 09:00 2022-08-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290332
The Close Relationship With BTC Does Not Allow The Altcoin To Move On Its Own

Crypro: Bitcoin (BTC) And Ethereum (ETH) Are Losing A Lot After The Speech In Jackson's Hole!

Conotoxia Comments Conotoxia Comments 29.08.2022 13:50
The crypto market could have collapsed after Jerome Powell's heavily hawkish speech in Jackson Hole. That day, the leading tokens, bitcoin and ethereum lost 4% and 9%, respectively, and continued their declines over the weekend, reaching levels not seen in two months. On the Conotoxia MT5 platform, bitcoin is losing 0.5% today at 10:30 GMT+3. After breaking through the likely support level of $20750 on Friday, the token may have entered a short consolidation phase. However, given the potentially high level of pessimism in the market, it may be expected that this will not last long, with possible further downward movements ahead.  The BTC price is far below the 10-, 20-, 50- and 100-day moving averages. The nearest possible support levels are around $19300 and $18600. The MACD indicator and the directional indicator seem to indicate the continuation of the downtrend. The RSI oscillator may foretell its reversal, slowly entering the overbought area. However, since oscillators can usually give signals well ahead, one should be very cautious about this signal.  On the Conotoxia MT5 platform, ethereum is losing 2% today at 10:30 GMT+3. The token tested the likely support level of $1530 on Friday, then broke through it on Saturday. Unlike BTC, ETH has had a much more intense series of rises, and the potential for continued declines maybe even more tremendous. That's probably why the cryptocurrency hasn't even entered a short consolidation phase like BTC, and instead is set lower and lower on successive daily candles.  ETH is also below the 10-, 20-, 50- and 100-day moving averages. Popular technical indicators (RSI, directional indicator and MACD) seem to point to a continuation of declines. Even the RSI, which may look optimistic for BTC, has yet to reach the overbought area for ETH.  On the Conotoxia MT5 platform, the Cardano project's native token (ADA) is losing strongly today, falling nearly 2.5% at 11:00 GMT+3. Cardano is an ecosystem that allows developers to create tokens and decentralized applications (dApps) within DeFi. ADA uses the Proof-of-Stake (POS) blockchain. For a long time, the project has been considered one of the 10 best projects in the crypto world, according to a Forbes ranking. Currently, the token is most likely following the market and seems to be recovering from the increases over the last two months. The current declines in the crypto market may continue after the Fed chairman's hawkish speech. The expected pivot in monetary policy is likely to happen, but much later than investors anticipated. In the short to medium term, the speculative nature of cryptocurrencies and optimism about blockchain technology could be stifled by the recession, high-interest rates and lower disposable income.    Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: Crypto on fire - ETH and BTC are approaching price levels last seen in June
Bitcoin's Drop Caused A Quick Shock To The Market. Look At It!

Bitcoin's Drop Caused A Quick Shock To The Market. Look At It!

Kucoin Blog Kucoin Blog 29.08.2022 16:16
Table of Contents Crypto Market Overview Top Altcoin Gainers and Losers News Highlights This Week Bitcoin (BTC/USDT) Analysis on KuCoin Chart   The past week has brought the crypto market nothing but losses, with only a couple of cryptocurrencies managing to not lose their value. The overall cryptocurrency market volume in the past 24 hours came up to $66.73 billion - close to $10 billion less than the previous week.The overall crypto market cap fell below the $1 trillion mark, now totaling $953.14 billion. This ended up being a decrease of 190.7 billion compared to the previous week. Let's delve deeper and take a quick look at the latest crypto market news and BTC's technical outlook. Crypto Market Overview Bitcoin's drop below the $20,000 mark provided a quick shock to the market, causing more people to believe that another leg down is up ahead. BTC’s dominance is steadily declining, now standing at 38.66%. This came as a result of several cryptocurrencies maintaining their price decrease lower than the largest cryptocurrency. The most valuable cryptocurrency pair, BTC/USDT, is currently trading at $19,786.11, while Ethereum, the second-largest cryptocurrency by market capitalization, has fallen to 1,444.75, down 10.78% in the last week. The top performers from the previous week were eCash (XEC), Huobi Token (HT), and IoTeX (IOTX). XEC has increased by 29.28%, while HT gained 17.44% in the past seven days. Finally, IOTX gained 12.51%.     Cryptocurrency Market Heatmap | Source: Coin360 On the other hand, Avalanche (AVAX), STEPN (GMT), and Lido DAO (LDO) were the worst performers of the week. AVAX is down 19.45% to $17.96; GMT is down 16.17% in the last seven days; GRT is down 16.10% to $1.61. Top Altcoin Gainers and Losers Top Altcoin Gainers: eCash (XEC) ➠ 29.28% Huobi Token (HT) ➠ 17.44% IoTeX (IOTX) ➠ 12.51% Top Altcoin Losers: Avalanche (AVAX) ➠ 19.45% STEPN (GMT) ➠ 16.17% Lido DAO (LDO) ➠ 16.10% News Highlights Here are some of the events that made the previous week's crypto news section stand out:   US Stocks Lost $1.25 Trillion in Just One Day Fed Chair Jerome Powell has suggested that larger rate hikes were definitely on the table despite recent data hinting that inflation was already slowing down. As a result of this, investors rushed to cut their riskier investments.   This resulted in the S&P 500 closing down 3.4% on Friday, hitting its lowest levels since late July. The Nasdaq Composite Index didn’t perform much better, as it dropped by 4%. Overall, the US stock market lost more value in one day than the entire market cap of the cryptocurrency market.   Cardano (ADA) Inching Closer to its Vasil Hard Fork Input Output Hong Kong (IOHK), the blockchain company in charge of development for the Cardano network, stated that the Vasil hard fork is “ever closer.” IOHK shared its latest Vasil hard fork status, and posted updates on its three critical mass indicators, which determine the date of the upgrade.   The company indicated that they are looking for 75% of mainnet blocks produced by nodes running the 1.35.3 version, around 25 exchanges upgraded, as well as the top ten key mainnet decentralized applications (DApps) also upgrading to the new version.   When it comes to the current upgrade status, we are looking at around 50% of the transition finalized, with 50% to go until the Vasil hard fork goes live.   US Dollar Hits a New 20-Year High One of the largest gainers in the past weeks was none other than the US dollar. The currency has managed to increase its value, thus hitting a 20-year high. On the other side of the world, the euro has suffered massive losses and lost parity with the dollar.   The US dollar’s surge has historically been a bad indicator for the price of Bitcoin - in fact, the two have a strong inverse correlation.   OpenSea Daily Volume Decreases by 99% OpenSea, the world's largest NFT marketplace, has witnessed a massive drop in daily volumes as fears about a potential NFT bubble burst grow larger.   The marketplace processed nearly $5 million worth of NFT transactions yesterday, which came up to around 99% less than its record high of $405.75 million on May 1. The massive decline in daily volumes came as a result of two factors: The overall crypto bear market, which has affected all aspects of the Web3 sector. The increasing fear of the NFT market being a bubble poised to burst. OpenSea’s user count has seen a massive drop over the past 90 days, with floor prices hitting yearly lows. The greatest example of this is the floor price of the Bored Ape Yacht Club, which dropped by 53% to 72.5 ETH on Aug 28 versus a high of 153.7 ETH on May 1.   The Fear & Greed Index at 24, Market Sentiment Plummets The fear and greed index has pushed back down from the past week, moving from 45 all the way down to 24. The indicator now indicates “extreme fear,” caused by the sudden drop of Bitcoin and other cryptocurrencies.     Fear & Greed Index | Source: Alternative   Crypto Calendar: Events to Watch This Week ➺ 29/08/2022 - Klaytn - Magma Hard Fork ➺ 30/08/2022 - Tron - Telegram AMA   Bitcoin (BTC/USDT) Analysis on KuCoin Chart Bitcoin (as well as the rest of the cryptocurrency market) has had a horrible week after Jerome Powell’s announcement that the FED may keep rising interest rates. This statement caused the US stock market to erase over $1 trillion, while Bitcoin tanked and managed to drop below $20,000.   Bitcoin is now around 70% lower than its November 2021 all-time high of $69,000. The current sharp movements occurring in Bitcoin are not caused by technical indicators, but rather by news and announcements coming mostly from the west.   However, while it is true that the market is now ruled by fundamental and sentiment indicators, let’s explore the technical side of BTC as well.   Bitcoin has managed to drop below the large 23.6% Fib retracement sitting at $22,845, thus triggering a sell-off. With the price dropping once again, the largest cryptocurrency by market cap has formed another (much smaller) Fib retracement. BTC is now testing its bottom, sitting at $19.408.     BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   When it comes to support and resistance levels, Bitcoin is likely to encounter resistance to the upside at an area between $20,750 and $21,620. On the other side, analysts state that traders should watch out for $19,400, as this is the only level separating Bitcoin from the $17,550 level.   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.   Sign up on KuCoin, and start trading today!   Follow us on Twitter >>> https://twitter.com/kucoincom   Join us on Telegram >>> https://t.me/Kucoin_Exchange   Download KuCoin App >>> https://www.kucoin.com/download   Also, Subscribe to our Youtube Channel >>> Listen to 60s Podcast   Source: Weekly Crypto Analysis: BTC Under $20K as HODLers Brace for September
Crypto: Naturally, Fed's Jerome Powell Affected Cryptocurrency Market

Crypto: Naturally, Fed's Jerome Powell Affected Cryptocurrency Market

Geco One Geco One 29.08.2022 20:01
Bitcoin (BTC) In line with market expectations, the hawkish speech of the Federal Reserve chairman last Friday contributed to a significant decline in the cryptocurrency market at the end of last week. This fact caused Bitcoin to increase the scale of the depreciation lasting from August 15 to over 22.5%, slipping to the lowest level since mid-July this year. If this sale continues, BTC could soon return to the June and July lows, that is, to the region of USD 19,000. However, it is possible that, due to the relatively calm start of the new week, Bitcoin will see a slight upward recovery soon before it returns to the downward path. The catalyst for another sell-off may be the Wednesday and Friday data from the US labour market, which will undoubtedly significantly impact the Fed’s decision on the September federal funds rate hike scale. Ethereum (ETH) Looking at the Ethereum quotes, we notice that the price of this cryptocurrency fell by over 17% in the second half of last week, increasing the range of the depreciation that has been taking place since August 14 this year to a low of 30%. This sell-off plunged the ETH price below $ 1,780 technical support and below $ 1,575. The market is currently testing another $ 1,400 support. However, if this barrier is also overcome, then Ethereum could drop to USD 1,250. Bitcoin Cash (BCH) Over the past few days, Bitcoin Cash has slumped by over 20%, increasing the extent of the depreciation that has been ongoing since July 29 this year to nearly 33%. It also pushed the BCH back to $ 112, one of its lowest levels since mid-July. If the downward trend continues and the cryptocurrency drops below the currently tested support, it could continue its rally toward $ 97, which is another crucial support zone. Litecoin (LTC) Litecoin fell by 20% between August 14 and 20, breaking the bottom from an extended bullish wedge formation. This sell-off stopped at $ 52.50 technical support, where a demand response surfaced on August 20. Due to subsequent gains, the LTC returned to the ​​previously broken support (now resistance) area of $ 57.50, measuring a 38.2% Fibonacci correction from an earlier downward move. In the area of ​​this resistance, the supply response reappeared, and the quotes of this cryptocurrency once again fell to $ 52.50. Therefore, one can conclude that the LTC rate has stalled in the past few days in consolidation between the support at $ 52.50 and the resistance in the area of ​​$ 57.50. Given that the consolidations are corrective patterns and that the market had a downward move earlier, Litecoin is statistically more likely to break the bottom from the current layout, which could drive a further depreciation toward $ 42. Solana (SOL) We notice Solana’s quotations that the cryptocurrency has been moving from mid-June inside the bullish wedge formation. The last increases stopped in mid-August this year, near the upper limit of this system, where a supply reaction appeared again. The declines since then caused the SOL price to drop by almost 38%, breaking the bottom out of the wedge formation and beating the horizontal support of $ 32.50. If this trend continues, the quotations of this cryptocurrency could soon return to the region of the June lows, i.e. to USD 26. Polygon (MATIC) The Polygon cryptocurrency fell by more than 28% between August 14 and August 20 this year, slipping below technical support of $ 0.87. This sell-off stopped around the following support in the $ 0.75 region. The MATIC course has been in the horizontal trend for over a week. So we have a similar situation here as in the case of Litecoin. So if the currently tested support is permanently defeated, the MATIC could drop further to ​​$ 0.61, $ 0.45, or even $ 0.32. Ripple (XRP) Looking at the XRP quotations, we will notice that the price of this cryptocurrency has remained within a parallel growth channel since mid-June this year. After rebounding from the upper limit of this system at the end of July this year, the XRP rate stuck in a horizontal trend just below the local resistance of USD 0.39. The supply pressure observed on August 18 and 19 contributed to breaking the bottom out of this system. Moments later, the upward trend line was also broken, which was the lower boundary of the entire growth channel. This sale stopped only in the vicinity of the technical support of $ 0.3330, where there was a slight demand response on August 20 this year. However, the subsequent rebound only contributed to a re-test of the upward trend line and the previously defeated support (now resistance) of $ 0.36, which was the lower bound to the earlier consolidation. In reaction to the hawkish speech of the Fed chairman last Friday, the XRP rate rebounded from this resistance, and on Sunday, it fell even below the support of USD 0.333. If the downward trend continues, the price of this cryptocurrency could return to USD 0.30. Nem (XEM) We could also expect a continuation of declines in the Nem cryptocurrency quotes. Its price has dropped by more than 30% since August 11 this year, beating technical support of USD 0.048 and USD 0.043. If this trend continues, XEM could return to the May, June and July lows to the technical support of USD 0.037. Chainlink (LINK) We could also expect further declines in the Chainlink quotation. The LINK exchange rate rebounded on August 13 this year from the technical resistance of USD 9.30, the upper limit of the consolidation lasting from the first half of May this year. The recent sell-off contributed to the defeat of local support around USD 7.20, which may naturally drive a further depreciation towards the lower limit of the said consolidation, i.e. to USD 5.90.
Bitcoin Is Showing The Potential For The Further Downside Rotation

Oh My! Why Did (BTC/USD) Bitcoin Price Decrease?

Ed Moya Ed Moya 29.08.2022 22:01
US stocks are declining after a weekend filled with global central bank hawkishness reinforced the message that global central bank tightening will deliver pain to households and businesses. ​ Friday’s sharp selloff is continuing as expectations for the global energy crisis persist, which will keep inflation risks elevated and lead to a rapid deterioration of economic data. Powell sent a short and direct message that there won’t be a Fed pivot anytime soon and that has markets positioned for further equity weakness. ​ Investors were expecting that once the US got some ugly data, perhaps a couple of negative NFP reports, that the Fed would come to the rescue, but that might not be the case. ​ Premature loosening won’t be happening on the first signs that the economy is slowing down quickly and that raises doubts for anyone who bought stocks earlier this month. ​ ​ All about Europe this week The ECB rate decision will show that the current inflation narrative will force them to deliver massive rate hikes that will kill growth. ​ Over the weekend, ECB’s Rehn said their next step is a significant rate move in September and that it should be by at least 50 basis points. The latest round of ECB talk has been hawkish and that should have markets leaning towards expecting a 75 basis point rate hike. ​ ​ The European Union Commissioner Ursula von der Leyen is preparing an emergency intervention and structural reform of the electricity market. ​ Drastic measures are needed to salvage the European economy as the risks of extremely higher energy costs could trigger a severe recession. ​ Czech officials have suggested capping natural gas used for power generation. ​ The EU is expected to meet on September 9th and is expected to show some plan for tackling the energy crisis. Bitcoin ​ Over the weekend, Bitcoin dipped below the coveted $20,000 price point as risk aversions grew following more global central bank hawkish talk from Jackson Hole. ​ Bitcoin is showing some resilience here as it has clawed back above the $20,000 level, despite widespread stock market weakness. ​ Crypto traders are not used to seeing bitcoin withstand a rout on Wall Street, so this could be a promising sign. ​ Crypto bulls will be tested here as the risk for further risk aversion is high given the trajectory of the global economy. ​ ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Stock selling continues, Europe in focus, bitcoin back above $20k for now - MarketPulseMarketPulse
Bitcoin price could slide to $17,500 as regulators consider tightening rules around leverage

Bitcoin price could slide to $17,500 as regulators consider tightening rules around leverage

FXStreet News FXStreet News 30.08.2022 02:25
Bitcoin price could see a strong recovery bounce if it manages to flip above the recently broken trend line. In such a case, investors can expect a revisit to $20,750 and $22,400. A failure to flip above the broken trend line could send BTC to collect liquidity resting between the July 13 and June 18 swing lows at $18,889 to $17,578, respectively. Bitcoin price is lost in no man’s land after crashing below $22,000 on August 26. This sell-off was followed by a tight consolidation that led to another nosedive that has pushed BTC below its support trend line. A recovery above this level will signal an imminent bounce, but a failure could result in a swift continuation of the downtrend. While the technicals are bearish in the long term and ambiguous in the short-term, crypto adoption seems to be going well as the Monetary Authority of Singapore (MAS) considers implementing new restrictions regarding the use of leverage in cryptocurrency markets. Ravi Menon, the managing director at MAS said that retail investors are oblivious to the risks involved in trading and leverage but also acknowledges that banning cryptocurrencies will not work. Bitcoin price hopes for a recovery Bitcoin price has slipped below the ascending parallel channel formed between August 19 and 25, triggering a 10% crash to $19,513. So far, the sellers seem to be pausing, allowing buyers to step in. If successful, this development could trigger a recovery rally to retest $20,750. Depending on the momentum, however, this move could extend to $22.400. Confirmation of this bullish move will come from BTC recovering above the declining trend line formed by connecting the June 30 and July 13 swing lows. BTC/USD 12-hour chart Regardless of the buyers’ attempts, market makers are likely to target the liquidity resting below the swing lows formed between July 13 and June 18, pitching Bitcoin price lower to try and scrape it up. This would lead to an extension down from $18,889 to $17,578, especially if bulls fail to step in.
Technical analysis of the leading cryptocurrency, Bitcoin, by Sebastian Seliga (InstaForex) - 27/10/22

Crypto: BTC/USD. Bitcoin Is "Technically One Of The Worst Cryptocurrencies"!?

InstaForex Analysis InstaForex Analysis 30.08.2022 10:24
Relevance up to 07:00 2022-08-31 UTC+2 Crypto Industry News: Founder and Investment Director of Cyber Capital Cryptocurrency Fund Justin Bons called Bitcoin (BTC) "technically one of the worst cryptocurrencies" and "purely speculative asset without utility" compared to other cryptocurrencies due to the lack of technological advancement. Bons added his opinion in an 11-part Twitter thread on Sunday, stating that Bitcoin's value proposition has long been deteriorating due to a broken long-term security model, relatively weak economic features, and a lack of capability, programmability, and composing. Bons has been an expressive figure in the crypto community for several years now, establishing one of the oldest European cryptocurrency funds, Cyber Capital in 2016, and as of 2014 considered a full-time cryptocurrency researcher. In addition, Bons runs nodes on the Bitcoin and Bitcoin Cash networks. Justin Bons said he vigorously defended BTC in 2014, said "the reality is that BTC has changed dramatically since then," with the decision not to increase the block size limit, "a serious departure from the original vision and purpose. Bitcoin ". Technical Market Outlook: The BTC/USD pair has been seen making a pull-back towards the level of $20,716 after the bears had pushed the market out of the channel. The next target for bears is seen at the level of $18,940 (technical support from July 13th) and $18,640 (technical support from July 1st). The momentum remains weak and negative, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $20,566 WR2 - $20,144 WR1 - $19,963 Weekly Pivot - $19,722 WS1 - $19,540 WS2 - $19,300 WS3 - $18,878 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Source: Forex Analysis & Reviews: Technical Analysis of BTC/USD for August 30, 2022
Mt. Gox's Recovered Bitcoins Seems Not To Be Paid Back To Creditors This Month

Mt. Gox's Recovered Bitcoins Seems Not To Be Paid Back To Creditors This Month

Saxo Bank Saxo Bank 30.08.2022 15:06
Summary:  Since the largest Bitcoin exchange Mt. Gox was hacked in 2014, the trustee has managed to recover around 141,000 out of 850,000 Bitcoins. The recovered Bitcoins were rumored to be paid back to creditors this August. Yet, it seems that it will not occur in the next months, making the market wait in fear of potential imminent selling pressure. The market anxiously awaits 141,000 Bitcoins from Mt. Gox In 2014, the largest Bitcoin exchange at the time called Mt. Gox leaked a total of 850,000 Bitcoins through a hack. Out of a maximum supply of 21mn Bitcoins, the hack is the most consequential in the history of crypto, although there have been many other hacks. Though, the trustee managed to recover around 141,000 Bitcoins, which have to date not been paid out to creditors; that is clients with Bitcoins deposited to Mt. Gox back in the days. With a recovery plan approved by creditors last year, the payout is undoubtedly coming closer. It was rumored in July to take place this August. However, it now seems that it is still months away, as the repayment system is not yet live. Although the Bitcoins are likely not to be repaid in the coming months, it is expected to take place at some point. The market has been severely anxious with respect to the 141,000 Bitcoins potentially flooding the market immediately following the payout, since creditors may see it as a race in liquidating the Bitcoins before everyone else. Since Mt. Gox was hacked, the value of the Bitcoins has increased by a factor of 35, so the creditors might want to secure some profit. What speaks against this race to liquidate the Bitcoins is that the trustee is likely to repay the Bitcoins in installments one at a time. Likewise, these creditors are mainly strong Bitcoin advocates soon having been around for a decade. A substantial portion of them have already made life-changing money, so they are less prone to sell the Bitcoins. As the past has often proved, the anticipation of imminent heavy selling pressure is often more powerful for a potential downward trajectory than the selling pressure itself. Strictly speaking, we do not expect the repayment to pose heavy selling pressure, particularly if it occurs in relatively minor installments at a time. Yet, we have our eyes on the market’s anticipation of the repayment, because it might spread fear across the market since it is predominantly dominated by retail more inclined to fear. See you on the other side, dear NFT hype The crypto trend of 2021 was arguably non-fungible tokens (NFTs). The biggest winner of this trend was the largest NFT marketplace OpenSea, facilitating a volume worth $14bn in 2021. While OpenSea started the year nicely with an all-time high monthly volume of over $5bn in January, it has since seen its volume decline massively. OpenSea has recorded a volume worth $480mn in August so far, in which its volume barely exceeds $10mn some days. The declining volume is mainly a result of a less speculative market combined with diminished prices denominated in Ether and even more in dollar terms. Bitcoin/USD - Source: Saxo Group Ethereum/USD - Source: Saxo Group Source: Crypto Weekly: Anxiously awaiting 141,000 Bitcoins
ByBit talks trading bots. What are they? How can they help?

Crypto: BTC/USD On 31 Of August - Potential For The Downside Rotation

InstaForex Analysis InstaForex Analysis 31.08.2022 13:57
Relevance up to 13:00 UTC+2 Technical analysis: BTC/USD has been trading sideways at the price of $20.300 and i see potential for the the downside rotation towards lower reference point. Trading recommendation: Due to the test and reject of the resistance at the price of $20.500, I see further downside movement. Watch for potential selling opportunities on the intraday rallies with the downside objective at the price of $19.700. Key resistance is set at the price of $20.500 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Source: Forex Analysis & Reviews: BTC update for August 31,.2022 - Potential for the downside rotation of the resistance
Navigating GBP/USD: Analysis, Levels, and Indicators

Volatile Markets: US Dollar (USD), Euro (EUR), British Pound (GBP), Russian Ruble (RUB)

Ed Moya Ed Moya 07.05.2022 14:21
Every asset class has been on a rollercoaster ride as investors are watching central bankers all around globe tighten monetary policy to fight inflation.  Financial conditions are starting to tighten and the risks of slower growth are accelerating.   The focus for the upcoming week will naturally be a wrath of Fed speak and the latest US CPI data which is expected to show inflation decelerated sharply last month. A sharper decline with prices could vindicate Fed Chair Powell’s decision to remove a 75 basis-point rate increase at the next couple policy meetings.   A close eye will also stay on energy markets which has shown traders remain convinced that the market will remain tight given OPEC+ will stick to their gradual output increase strategy and as US production struggles to ramp up despite rising rig counts.  Energy traders will continue to watch for developments with the EU nearing a Russian energy ban. US inflation expected to drop Oil rallies as EU nears Russian energy ban Gold remains vulnerable if bond market selloff accelerates US Market volatility following the FOMC decision won’t ease up anytime soon as traders will look to the next inflation report to see if policymakers made a mistake in removing even more aggressive rate hikes off the table over the next couple of meetings.  The April CPI report is expected to show further signs that peak inflation is in place.  The month-over-month reading is expected to decline from 1.2% to 0.2%, while the year-over-year data is forecasted to decrease from 8.5% to 8.1%. The producer prices report comes out the next day and is also expected to show pricing pressure are moderating.  On Friday, the University of Michigan Consumer Sentiment report for the month of May should show continued weakness. The upcoming week is filled with Fed speak that could show a divide from where Fed Chair Powell stands with tightening at the June and July meetings.  On Tuesday, Fed’s Williams, Barkin, Waller, Kashkari, Mester, and Bostic speak.  Wednesday will have another appearance by Bostic. Thursday contains a speech from the Fed’s Daly.  On Friday, Fed’s Kashkari and Mester speak.   UK The Bank of England delivered a 0.25% rate hike at this week’s meeting. This brings the benchmark rate to 1.00%, its highest since 2009. At the same time, the BoE painted a grim economic picture at the meeting, as it revised its inflation forecast to above 10% and warned of a recession. The UK releases GDP for Q1 on Thursday. The consensus estimate stands at 1.0% after a 1.3% gain in Q4 of 2021. A loss of momentum in the economy could mean a contraction in the second quarter, raising the likelihood of stagflation. The only new data in the GDP report will be the March figures, as January and February were already published. The estimate for March is for a flat reading, after gains of 0.1% in February and 0.8% in January.   EU The Russia/Ukraine war and the sanctions against Russia have dampened economic activity in the eurozone. Germany, the largest economy in the bloc has been posting weak numbers as the war goes on. With the EU announcing it will end Russian energy imports by the end of the year, there are concerns that the German economy could tip into a recession. On Tuesday Germany releases ZEW Survey Expectations, which surveys financial professionals. Economic Sentiment is expected to decline to -42.5 in May, down from -41.0 in April. On Friday, the Eurozone releases Industrial Production for March. The Ukraine conflict has exacerbated supply line disruptions, which is weighing on industrial production. The sharp drop in German Industrial Production (-3.9%), suggests that the Eurozone release will also show a contraction. The March estimate is -1.8%, following a gain of 0.7% in February.    Russia Russia’s inflation has been accelerating sharply since the invasion of Ukraine. In March, CPI rose to 16.7% (YoY) and is expected to climb to 18.1% in April. The driver behind the sharp upswing has been Western sanctions, which have reduced the availability of consumer imports and key components for domestic products. CPI is expected to continue to climb in the coming months.   China China releases its Balance of Trade on Monday and Inflation on Tuesday. Both have downside risks given the disruption to business and the collapse in property sales and sentiment due to the covid-zero policy. Restrictions continue tightening in Beijing and the covid-zero policy has become the biggest headwind to a China recovery. The government reaffirmed its commitment to the policy Friday, sending China stocks lower. Additionally, US-listed China stocks face new delisting risk from US regulators that is weighing on Hong Kong markets especially, where most dual listings live. Negative headlines around Covid 19 or US delisting over the weekend could send China equities sharply lower into the start of the week. USD/CNY and USD/CNH have now risen from  6.4000 to 6.7000 in just two weeks. The PBOC remains comfortable at this stage, being a back door stimulus to manufacturers. The PBOC USD/CNY fixing will be the key indicator as to whether the authorities have said Yuan depreciation has gone far enough.   India The Reserve Bank of India sprung a surprise rate hike on markets this past week, sending the Sensex lower whilst providing some support to the INR temporarily. India’s CPI inflation release on Thursday will be this week’s key risk event. If the data comes in above expectations at 7.30%, expectations will rise of a faster more aggressive hiking cycle from the RBI which was quite hawkish in its guidance after the hike. THat will send Indian equities sharply lower once again, while possibly mollifying the impact on the INR from a rampant US Dollar.   Australia Australia could be a correlation trade for the tier-1 PMI releases from China over the weekend. Poor China data could see the AUD and local equities pressured with most of Asia, ex-Japan closed.SImilarly, a decent showing by the China PMIs will have a positive impact. Markets, especially currency markets, could face liquidity issues and see sharp moves if the weekend news wire is heavy as Australia and Japan will be the only two major centres open. Most attention will be focused on Tuesday’s RBA rate decision. A 0.15% hike is fully priced by markets and the clouds from Ukraine and China are weighing heavily on AUD/USD anyway. If the RBA does not hike AUD/USD could fall sharply in the short-term. If the RBA hikes and adjusts its guidance to a more hawkish, AUD/USD could potentially see a big move higher.   New Zealand NZ Retail Card Spending has downside risks and the Food Price Index, upside risks this week. The cost of living has become the central issue in New Zealand at the moment and a high FPI will heap pressure on the RBNZ to accelerate rate hikes as the economy starts to show signs of stress elsewhere. NZD/USD has traded very heavy in past two weeks as investors price in a hard landing and an RBNZ behind the curve, and as risk sentiment sours internationally. NZD/USD is closing at the weeks lows and could test 0.6200 this week.   Japan Japan releases a raft of second tier data this week. THe 10 and 30-year JGB auctions will be closely watched, if only for signs of poor cover ratio given the BOJ JGB intervention and weakening Yen. THe centre of attention will remain the USD/JPY as the US/Japan rate differential widens. USD/JPY could well test 135.00 in the week ahead if the negative sentiment sweeping markets on Friday spills into next week. Higher oil prices will also weigh onthe Yen. We expect the noise to increase from Tokyo but little chance of USD/JPY intervention at these levels.   Singapore No significant data. The currency remains under pressure as a proxy for China and also because the MAS meets six monthly to determine monetary policy. The next meeting will not be until October to determine if monetary policy gets tightened once again.      Markets OilCrude prices are steadily rising as the EU is making progress towards its Russia oil sanctions ban. The oil market will remain tight going forward now that OPEC+ is set on delivering meager output increases and as US production struggles despite rising rig counts. The biggest uncertainty for the crude demand outlook remains the outlook for the Chinese economy. China won’t be abandoning their zero-COVID policy anytime soon and that will keep the short-term crude demand outlook vulnerable. China’s COVID situation might not be improving anytime soon and now that the data is showing the impact of business restrictions is more widespread than just to Shanghai and Beijing. Oil will remain a volatile trade going forward with most of the fundamentals still pointing to higher prices. GoldJust when gold seems to be showing signs it is getting its luster back, the bond market says ‘not so fast’.  Gold continues to struggle in this current environment of surging global bond yields and that might last a little while longer as some central banks for the purpose of defeating inflation might be willing to send their respective economies into a recession. Gold’s awful few weeks of trade has seen a collapse of the $1900 level and that should prove to be key resistance now.  If the bond market selloff accelerates and the dollar surges, gold could be vulnerable to a drop towards $1835 and if that does not hold, $1800 might be targeted. Bitcoin Confidence in crypto markets is waning after Bitcoin tumbled below the $37,000 level following the surge in global bond yields.  If risk appetite does not return, Bitcoin could be vulnerable to a significant drop towards the $30,000 level.  Choppy trading between $35,000 and $40,000 could be where Bitcoin settles if Wall Street does not price in much more tighter monetary policy by the Fed.
What Should We Expect From The Bitcoin Formation In The Near Future?

The BTC/USD Pair Looks Like A Double Bottom Price. Iran's Ministry Of Industry, Mines And Trade Has Approved The Use Of Cryptocurrencies For Imports

InstaForex Analysis InstaForex Analysis 01.09.2022 09:41
Crypto Industry News: Iran's Ministry of Industry, Mines and Trade has approved the use of cryptocurrencies for imports amid ongoing international trade sanctions. According to local press reports, Trade Minister Reza Fatemi Amin has confirmed that detailed regulations have been approved specifying the use of cryptocurrencies in trading and the supply of fuel and electricity to cryptocurrency miners in the country. Amin unveiled the rule change at an auto industry show on Sunday, just a week after the country placed its first-ever $ 10 million vehicle import order using cryptocurrency as a payment method. The Iranian ministry of commerce previously indicated that the use of cryptocurrencies and smart contracts would be widely used in foreign trade until September 2022. After allowing cryptocurrency-financed imports, the Iranian import association has called for clear regulatory parameters to ensure local businesses and importers are not paralyzed by changing directives. The minister noted that the new regulations define all issues related to cryptocurrencies, including the licensing process and the supply of fuels and energy to cryptocurrency excavator operators in the country. Understandably, local companies will be able to import vehicles into Iran and a range of different imported goods using cryptocurrencies instead of paying in US dollars or euros. International trade sanctions against Iran were largely driven by opposition to its nuclear program, which essentially cut the country off from the global banking system. Technical Market Outlook: The BTC/USD pair had tested the level of $19,546 and it looks like a Double Bottom price pattern of the H4 time frame chart. Currently, the market is consolidating in a narrow zone and only a clear and sustained breakout below this level might extend the drop towards the next target for bears that is seen at the level of $18,940 (technical support from July 13th) and $18,640 (technical support from July 1st). The momentum remains weak and negative, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $20,566 WR2 - $20,144 WR1 - $19,963 Weekly Pivot - $19,722 WS1 - $19,540 WS2 - $19,300 WS3 - $18,878 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 08:00 2022-09-02 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290941
ByBit talks Grayscale Bitcoin Trust. How Does GBTC work?

BTC / USD With A Downward Trend And An Opportunity To Sell

InstaForex Analysis InstaForex Analysis 01.09.2022 11:16
Technical analysis: BTC/USD has been trading downside this morning, I saw the breakout of the triangle pattern to the downside. Trading recommendation: Due to the breakout of the triangle pattern in the background and the downside trend , I see further potential for the drop. Watch for selling opportunities with the downside objective at the price of $19.575. MACD oscillator is showing downside reading with no signs for the reversal. Key resistance is set at the price of $20.500 Read more: https://www.instaforex.eu/forex_analysis/290987     Relevance up to 10:00 2022-09-02 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290987
Scottie Pippen (Basketball Player) Received A Personalized NFT

The Cryptocurrency Market Expects The Worst Decline In Bitcoin

InstaForex Analysis InstaForex Analysis 01.09.2022 14:31
Bitcoin price plunged below $20,000. It was another day of disappointing activity in the crypto market as prices dipped in the absence of any major events, which is typical of a crypto winter. The bulls should show more strength to break the downward trend, which is still evident on the daily chart. The bears still have a small overall short-term technical advantage. As for where the price could move next based on the current state of the market, analysts warn of the possibility of a decline to $11,000 at worst, while noting that at the moment, at best, support is at the 2017 high. Boring day in the altcoin market: Activity in the altcoin market largely reflected the performance of bitcoin, with most tokens trading flat the day after an early decline. Ethereum (ETH) staking platform Lido DAO (LDO) leads altcoins for the second day in a row, gaining 11.3% as the Ethereum merger date approaches. Other notable indicators include a 9.75% increase for MXC (MXC) and a 9.54% increase for the Curve DAO (CRV) token. The total market capitalization of cryptocurrencies currently stands at $985 billion, with a Bitcoin dominance rate of 39.3%.     Relevance up to 12:00 2022-09-02 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320565
What Should We Expect From The Bitcoin Formation In The Near Future?

Lawsuit Against MicroStrategy. High Bearish Pressure On Bitcoin

InstaForex Analysis InstaForex Analysis 02.09.2022 11:00
Crypto Industry News: Karl Racine, the US Attorney General of the District of Columbia in the United States, announced that his office has sued MicroStrategy and its co-founder Michael Saylor on charges of tax evasion. Racine announced in a Twitter thread a lawsuit against MicroStrategy and its former CEO Michael Saylor, claiming that he "never paid any DC income taxes" and that the company "conspired" to help him avoid paying taxes. Saylor owes more than $ 25 million in taxes on income earned while in DC, according to the Attorney General's Office, but penalties from both the former CEO and MicroStrategy could be as high as $ 100 million. According to Racine, the allegations came after the District Council's District Council's False Claims Act amended to encourage whistleblowers to report residents of tax evasion. The Attorney General's Office has enforcement powers under the revised law and has said it has the power to levy "triple compensation" for three times the taxes owed - $ 75 million in the case of Saylor. Technical Market Outlook: The BTC/USD pair had tested the level of $19,546 and it looks like a Double Bottom price pattern of the H4 time frame chart. Currently, the market is consolidating in a narrow zone located between the levels of $20,586 - $19,521 and only a clear and sustained breakout below this level might extend the drop towards the next target for bears that is seen at the level of $18,940 (technical support from July 13th) and $18,640 (technical support from July 1st). The momentum remains weak and negative, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice and the major move up or down might be triggered today after the NFP Payrolls data from the USA are published. Weekly Pivot Points: WR3 - $20,566 WR2 - $20,144 WR1 - $19,963 Weekly Pivot - $19,722 WS1 - $19,540 WS2 - $19,300 WS3 - $18,878 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 08:00 2022-09-03 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291133
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Facebook and Instagram Now Support NFTs From Digital Wallets.

Crypto.com Accelerate the... Crypto.com Accelerate the... 02.09.2022 11:31
Eminem and Snoop Dogg performed as BAYC characters. Meta announced that Facebook and Instagram users can post NFTs.Animoca Brands received US$100 million in funding from Temasek.  Key Takeaways Eminem and Snoop Dogg performed at the MTV Video Music Awards as Bored Ape Yacht Club NFT characters in the Otherside metaverse. The artists both bought BAYC NFTs earlier this year, with Eminem paying around US$450,000 for his. Meta announced that Facebook and Instagram now support NFTs from digital wallets. Digital collectibles minted on the Flow blockchain or from wallets supporting the Ethereum or Polygon blockchains can be posted on the social media platforms. Blockchain gaming giant Animoca Brands has received $100 million in funding from Singapore state-owned Temasek. Animoca has over 340 portfolio companies, including top metaverse games like The Sandbox and Decentraland. X2Y2 recorded a -63% decrease in sales and a +6% increase in transactions. Meanwhile, OpenSea‘s sales were positive at +30% and its transaction count also increased +38%. The total market cap for GameFi tokens now stands at $8.98 billion, down -7% from last week. Crypto.com NFT in the Spotlight Hoppler – Maff University is the most prestigious educational institution in the GN-z11 Galaxy. “Class of 3022” is a yearbook that showcases the most distinguished students on campus in their respective areas. Thed Holes has dropped a Haute Cyber Couture collection with “Raw Society“. The main goal is to represent a part of society as a building, where each member lives in their own bubble with their own dreams, ambitions, and dramas. NFT Highlights Ticketmaster taps the Flow blockchain to let event organisers issue NFTs tied to tickets Uniswap sets sights on unifying NFT lending liquidity Exclusive: World of Women reveals WoWverse Capacitors NFTs NFTs as a use case for Medical Records Creators of GoblinTown to launch NFT marketplace Formula One files trademarks related to NFTs and Crypto Has X2Y2 drastically changed an NFT policy? GameFi Highlights Axiecon gears up for the biggest celebration of Axie Infinity on the planet Gabriel Leydon makes comeback with $200M funding for new blockchain game company Limit Break Chainplay report reveals 3 in 4 investors join crypto because of GameFi Gala Games announces launch date for Spider Tanks Game publisher and developer Xterio raises $40M to create cross-platform Web3 franchises NFT Transaction Benchmark     The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $158,700 Minted Plumbing Miner Pier $73,680 Magic Eden DeGods $4,990,625 OpenSea Digi Daigaku Genesis $5,887,936 GameFi Top Gainers & Losers     Top Games Metrics     Daily Gamers by Blockchain
ByBit talks trading bots. What are they? How can they help?

Can BTC Break Out Of The Sideways Range Today?

InstaForex Analysis InstaForex Analysis 02.09.2022 12:49
Technical analysis: BTC/USD has been trading sideways at the price of $20.100 and see potential for the breakout of the sideways range. Trading recommendation: Watch for the breakout of the sideways range to confirm further direction. In case of the upside breakout of resistance at the price of $20.500, watch for buying opportunities on the dips with the upside objective at the price of $21.800. In case of the downside breakout of the support at the price of $19.600, watch for selling opportunities on the rallies with the downside objective at the price of $18.980.     Relevance up to 10:00 2022-09-03 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291187
Industrial Metals Outlook: Assessing the Impact of China's Stimulus Measures

The US Economy Looks Good, Risk Aversion Runs Wild On Wall Street,

Kenny Fisher Kenny Fisher 02.09.2022 13:27
It seems most of Wall Street believes September will be a month we won’t want to remember. ​ We are less than two weeks away from a pivotal inflation report and three weeks from the FOMC meeting. ​ The repositioning of portfolios is just beginning as the Fed accelerates the balance sheet runoff, while we are barely seeing signs that real economy is starting to feel the impact of tightening. US stocks are declining after another round of strong labor and manufacturing data confirm the Fed’s hawkish stance that they can remain aggressive with the tightening of policy. If the economy remains resilient over the next few months, the fed-funds futures market might believe the Fed won’t be done tightening at the end of year. ​ Markets might start pricing in a February rate hike as well, if pricing pressures don’t show further signs of easing with the September 13th inflation report. ​US Data Key manufacturing data and jobless claims continue to push back the idea that the economy is headed towards a recession. ​ Many were expecting to start to see signs of weakness with the labor market and sluggishness with factory activity, but that apparently didn’t happen in August. ​ Initial jobless claims declined by 5,000 to 232,000, an improvement from the downwardly revised 237,000 prior weekly reading, and much better-than-expected 248,000 consensus estimate. The Challenger, Gray, & Christmas report showed layoffs are low and supports the idea the labor market is still clicking on all cylinders. ​ The ISM manufacturing report also impressed as factory activity attempts to stabilize. The headline ISM gauge of factory activity held steady at a two-year low and prices paid showed they are continuing to decline. ​ The ISM employment component also rebounded back to expansion territory. ​ The US economy is still looking good and that should allow the Fed to remain aggressive with tightening over the coming months. ​ The latest Atlanta Fed GDPNow reading for the third quarter posted a significant increase from 1.57% to 2.59%. It seems like a certainty that the economy will avoid a third consecutive negative GDP reading, which will completely end the debate that the economy is in a recession. ​ ​ ​ FX It comes as no surprise that the dollar hit a fresh record high on both safe-haven flows from global economic weakness and as a resilient US economy paves the way for the Fed to remain aggressive. ​ King dollar has awoken from a nap ​ and that could spell a lot more pain for the European currencies. Bitcoin dips below $20,000 Bitcoin is back below the $20,000 level as risk aversion runs wild on Wall Street. ​ Bitcoin’s slide however seems small considering the aggressive selling happening with risky assets. ​ The true test for Bitcoin is if it can stay close to the $20,000 level after the NFP release. A hot labor market report and Fed rate hike bets might surge and that could trigger downward pressure that eyes the summer lows. ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

Will September Be A Challenge For Cryptocurrencies Market?

InstaForex Analysis InstaForex Analysis 02.09.2022 14:26
The cryptocurrency market came under pressure on Thursday along with global financial markets as the US dollar index surged to its highest level since September 2002, at 109.96. As the dollar rose, few assets were retained: the S&P 500, DOW and NASDAQ were all in the red, down 1.03%, 0.45% and 1.81%, respectively. History shows that September can be challenging for the financial markets. As for when volatility will subside, it may continue for some time as bullish traders are still overwhelmed by bears. Further evidence that Bitcoin sentiment remains negative was provided by crypto analytics firm Santiment, which showed an increase in average BTC funding rates. According to the average BTC funding rate on Binance, BitMEX, DYDX and FTX, the reaction to Friday's drop was the most aggressive since May, as repoted by Santiment. Ethereum shorts are accumulating. One of the biggest stories in cryptocurrency right now is the upcoming Ethereum (ETH) merger, projected to happen on September 15. At a time when many expected a "buy the rumor, sell the news" type of event, it starts to look like the merger has already been booked, prompting investors to position themselves ahead of a potential price drop. Santiment did warn to go along with the expected Ether price pullback, highlighting the fact that price increases have historically been more common under such conditions. In general, it was a negative day for the crypto market. A quiet day in the altcoin market: Of the top 200 coins listed on CoinMarketCap, Decred (DCR), which added $11.7, was the best performer for the day, followed by an 11% gain in Balancer (BAL). The total market capitalization of cryptocurrencies currently stands at $967 billion, with a 39% Bitcoin dominance rate.     Relevance up to 09:00 2022-09-03 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320663
Craig Erlam And Jonny Hart Discuss Crypto Situation And The US Election Results

Bitcoin Miners Are Supporting Renewable Energy Sources

InstaForex Analysis InstaForex Analysis 05.09.2022 10:03
Crypto Industry News: Arcane Research says bitcoin mining will have a positive environmental impact. The company has just published a report on the subject saying mining can positively change the world's energy production. First, bitcoin miners can promote the use of renewable energy sources. In addition, there is the "reactivity" of miners, which will be based on the fact that they will "give" energy to the industry when the demand for it is high. However, this would require cooperation with the authorities. This is possible, as seen in Texas, where large BTC mines jointly and severally stopped mining cryptocurrencies in July to help protect the network during the heatwave. Such reactivity will be especially important in the years to come as the world is increasingly moving away from flexible fossil fuels to renewable energies. "Bitcoin miners can search for areas with excess wind and sun and build a data center there exactly the size needed to consume excess energy," the report further explains. Miners are not only supporting renewable energy sources, but also making oil drilling a cleaner and more efficient process. Oil wells often produce natural gas, which cannot always be economically used for consumption. As a result, oil producers are forced to burn gas without getting any economic utility from it and polluting the environment at the same time. However, if oil producers decided to use natural gas for mining, they could both benefit from it and reduce greenhouse gas emissions, the company adds. Example? Exxon - a large multinational oil and gas corporation - announced in March that it had mining plans. In addition, just as drilling for oil produces natural gas, mining bitcoins also produces heat as a by-product. This offers another opportunity to economically recycle resources. BTC miners can potentially "give up" heat to district heating networks. Moreover, if mines are powered by renewable sources, they can reduce the carbon footprint of heating - the world's largest source of CO2 emissions. "Reusing the heat of bitcoin mining is essentially about using the same energy twice," explained Arcane. Technical Market Outlook: After a whole week of trading inside the narrow range, the BTC/USD market might break to the downside soon - the bearish pressure is getting stronger as the bulls can not gather stronger momentum and break into the positive territory. The key short-term technical support is the zone lower line seen at $19,521 and any violation of this level would trigger another down wave towards the level of $18,940 (short-term technical support and target for bears). Weekly Pivot Points: WR3 - $20,411 WR2 - $20,111 WR1 - $19,911 Weekly Pivot - $19,840 WS1 - $19,610 WS2 - $19,509 WS3 - $19,209 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.     Relevance up to 09:00 2022-09-06 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade Read more: https://www.instaforex.eu/forex_analysis/291353
Cryptocurrency: Bitcoin Lost Almost 0.5%, ETH/USD Gained Ca. 6%

Cryptocurrency: Bitcoin Lost Almost 0.5%, ETH/USD Gained Ca. 6%

Alex Kuptsikevich Alex Kuptsikevich 05.09.2022 08:56
Market picture Bitcoin declined 0.4% over the past week, ending at around $19,900 without experiencing any significant movement during that time. For now, we can only say that the crypto market is wagering on the strengthening of the dollar, and to a markedly lesser extent than other markets. Ethereum added 5.9% to $1570, while other leading altcoins from the top ten showed mixed dynamics: from a decline of 1.3% (BNB) to a growth of 13% (Cardano). Total crypto market capitalisation, according to CoinMarketCap, rose 2.5% over the week to $976bn. The cryptocurrency Fear & Greed Index lost 8 points over the week to 20, returning to "extreme fear" status. Read next: ECB Will Continue To Hike Rates To Slow Inflation? | FXMAG.COM Bitcoin stood aloof from key market movements last week, moving on a short leash around $20K. Meanwhile, tectonic shifts were taking place in the markets as the dollar continued to renew multi-year highs and stock markets returned to a sell-off. Cardano rose sharply at the end of the week on the back of the news. IOHK, the company behind the Cardano project, has set a date for Vasil's update - the largest and most important hardfork in the project's history will take place on September 22. News background According to analytics service TipRanks, HODLers are refusing to sell the cryptocurrency. 62% of wallets hold bitcoins for more than one year. 32% of addresses control BTC for 1 to 12 months, and only 6% of investors hold cryptocurrency for less than 30 days. At the same time, both profitable and unprofitable addresses have a 48% share. Bitcoin miners' revenues in August amounted to $657 million and increased for the first time since March. The growth in revenues was helped by the growth of the first cryptocurrency's network hash rate. Despite the crisis, investor confidence in cryptocurrencies increased slightly over the quarter. 65% of retail investors and 70% of institutional investors trust digital assets, according to a survey by cryptocurrency exchange Bitstamp. Read next: Rising Interest Rates. How High Can They Rise?| FXMAG.COM Cryptocurrencies are helped by the aura that, in the long term, they are more promising than stocks and other risky assets, as they are at an early stage of adoption and still undervalued by the market. Ethereum co-founder Vitalik Buterin called the current bear cycle expected. In his view, Terra's collapse and market decline are a boon for the crypto industry, as they help identify problems and unsustainable business models well. With the rising capitalisation of the crypto market, the DeFi sector could pose long-term risks to financial stability, according to the US Federal Reserve.
Bitcoin Is Showing The Potential For The Further Downside Rotation

The Number Of wallets With a High BTC Balance Continues To Grow

8 eightcap 8 eightcap 05.09.2022 12:46
After breaking through the key support level at $20.8k, the price of Bitcoin is consolidating around $20k. Over the past weekend, uncertain Doji candles formed on the cryptocurrency daily chart, which clearly underlines the low trading volumes. The price of Bitcoin has been in the consolidation phase for more than two weeks, and a certain category of investors is successfully collecting liquidity from different price ranges. We can say that the BTC/USD quotes have found a strong bottom near the $19.5k mark. Therefore, the exit from the consolidation range should occur in an upward direction. In addition to confidently defending an important price level, fundamentally positive news has appeared on the market, which can become a catalyst for the growth of Bitcoin. The US unemployment rate rose to 3.7% against the forecast of 3.5%. The labor market is one of the main factors confirming the recession of the American economy. Consequently, the Fed may revise monetary policy or make local easing to stabilize the situation on the labor market. In addition, mining difficulty increased by 10% in August, which indirectly confirms that the energy crisis has been overcome. Santiment also confirms the persistence of buying sentiment in the market. The number of wallets with a balance of 100–10,000 BTC continues to grow. Given this, it is likely that Bitcoin is expecting a local upward spurt. However, the technical metrics on the daily chart continue to point to a lack of buying interest. The stochastic oscillator has been in the oversold zone since August 18, which indicates the absence of bullish impulses and buying volumes. As of September 5, the metric has formed another bearish crossover. The RSI metric is also moving in a downward direction. Given the deplorable state of technical metrics, the question arises: why is the price not falling, but consolidating? The main problem lies in the trading activity of buyers. The indicator is at the very bottom, which does not allow the price to reach local highs. At the same time, sales volumes are also at a low level, which is why the bears are not able to break through key support areas without the influence of fundamental factors. In other words, at the current stage of the market any significant price movement of Bitcoin is tied to external factors. It is also important to consider the Monday factor, when the main markets are just warming up before the start of the trading week. Given this, we can expect an attempt by Bitcoin to climb above $20k by the end of today's trading day. However, there are problems here as well. The bitcoin headache of miner capitulation continues. The industry has adapted to new realities and energy prices, but low market liquidity is forcing them to sell off their stocks. Miners have sold over 3,000 BTC over the past week, which will negatively impact Bitcoin's short-term bullish targets. In addition, there are warns that the market is pricing in a 70% chance of a 70 bps interest rate hike in September. There are plenty of restraining factors for the growth of Bitcoin, therefore it is not worth hoping for a successful implementation of the bullish impulse. However, the situation may change next week. On September 13, statistics on inflation will be published, and the continuation of the downward trend of the CPI may be a signal for the activation of buyers. Until then, Bitcoin has no significant prerequisites for growth. Most likely, buyers will continue to actively absorb the volumes of BTC that miners and short-term investors send to the market. Among the likely targets that BTC/USD could reach as part of the upward movement this week is the $20.8k level. However, for this, the price needs to consolidate above $20k in the next day or two. This idea will become irrelevant if the $19.5k level is successfully broken.       Relevance up to 10:00 2022-09-06 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320799
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Meitu Reported An Loss, In CME Bitcoin futures Dropped To The Lowest Level

Crypto.com Accelerate the... Crypto.com Accelerate the... 05.09.2022 13:58
ETH perpetual futures funding rates at record lows. BTC options skews spiking as puts are being bid up. BTC hovering around short-term RSI oversold levels. Chart of the Week: Perps Funding Rates at New Lows There has been a flurry of activity in ETH derivatives markets as the expected mid-September date of The Merge closes in. Perpetual futures funding rates are printing at record negative levels, potentially implying caution from traders as they look to hedge downside risks. Previous issues of Market Pulse highlighted record open interest in options and record negative futures basis.  Fund Flow Tracker Aggregated exchange balance of ETH fell sharply to new lows during the past week, while BTC’s saw a bounce. Derivatives Pulse The BTC put-call ratio and skews (puts-minus calls) rose over the past week, implying increased cautious sentiment. Implied vols for both BTC and ETH were mostly flat during the past week. 1-week implied vol currently stands at 60.3% (vs. 65.3% a week ago) and 89.1% (vs. 98.9% a week ago) for BTC and ETH, respectively. Asset managers’ net-long position in CME Bitcoin futures dropped to the lowest level since February 2022, and leveraged traders’ net-short position continues to reduce.  Leveraged traders are typically hedge funds and various types of money managers, including commodity trading advisors and commodity pool operators. The traders may be engaged in managing and conducting proprietary futures trading, and trading on behalf of speculative clients. The asset manager category consists of institutional investors, including pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional. The dealer category consists of participants typically described as the “sell-side” of the market. These include large banks and dealers in securities, swaps, and other derivatives. The other reportable category consists of traders mostly using markets to hedge business risk, and includes amongst others corporate treasuries. Technically Speaking The drop in BTC price has it hovering around short-term oversold levels based on the 14-day Relative Strength Indicator (RSI). Price Movements News Highlights Chicago Mercantile Exchange Group (CME Group), the world’s leading derivatives marketplace, has launched Euro-denominated Bitcoin and Ether futures. Meitu reported an impairment loss of over US$43M on its crypto holdings. Credit Suisse disclosed that it held US$31M in “digital assets” for clients as at the end of Q2 2022. Stacked, a Web3 streaming platform, has completed a US$12.9M Series-A funding round led by Pantera Capital. Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.
El Salvador Continues To Bet Big On Bitcoin. Bored Apes Has Been Featured On A Big Television Event

El Salvador Continues To Bet Big On Bitcoin. Bored Apes Has Been Featured On A Big Television Event

Crypto.com Accelerate the... Crypto.com Accelerate the... 05.09.2022 14:14
BAYC M&Ms, Reddit co-founder, and Insta NFTs Temasek is set to lead a US$100 million funding round for Animoca Brands, Asia’s biggest blockchain investor. This adds to Animoca’s US$434 million already raised this year, as it seeks to go public and challenge big tech firms while helping to create Web3 in the process. Read on for this week’s top news in crypto, and brush up your trading skills, with our featured article ‘What are Candlesticks?’ Markets Spotlight Note: Market prices captured in US$ at the time of reading. Explore more on Crypto‌.com/Price. News Snaps California passes bill for regulating and licensing crypto firms. Cointelegraph reports that the California State Assembly passed a bill that will require crypto companies and digital asset exchanges to own an operating license given by the state of California. The bill would be implemented in January 2025. Helium looking to move to Solana. Popular peer-to-peer blockchain Helium is set to take a vote on whether or not they should move to Solana. Helium which is designed for the Internet of Things(IoT) gives incentives to users who run nodes with Helium’s hardware. Visit Blockworks for more.    Bored Ape Yacht Club makes MTV debut. At the latest MTV Video Music Awards, Snoop Dogg and Eminem showed off their Bored Apes in a music video for their new song ‘From the D 2 the LBC.’ This marks the first time Bored Apes has been featured on a big television event. For the full story, see CoinDesk. Show off your NFTs on Facebook and Instagram. Cointelegraph reports that Meta has released an update that allows Facebook and Instagram users to post NFTs from their digital wallets. Users can now connect digital wallets to both apps. Firm owned by Reddit co-founder launches US$177M crypto fund. Alex Ohanian, co-founder of Reddit, and his venture capital firm Seven Seven Six plan to create a fund focusing on crypto, called Kryptós.The partners believe that now is potentially a good opportunity to invest in strong founders at a discount. Check out Blockworks for more. What’s Ahead AxieCon Barcelona. From September 7-10, Axie Infinity will host the AxieCon in Barcelona, bringing together the brightest dreamers, builders, and players of Axie Infinity. AxieCon will cover all aspects of Axie Infinity, such as esports, game design, governance, and collecting. NFT Spotlight Relive streetball legend and blacktop champion The Professor’s ankle-breaking NFT collection, which dropped a year ago this month, featuring six of his signature crossover moves on the likes of Donald Trump, Elon Musk, Kanye West, and The Rock. I heard people buzz about it for a few years and I felt a little late to the party, but now I’m realising it’s still new to a lot of people — so I’m excited about the timing. The Professor, on his interest in cryptocurrency Check out The Professor’s NFT collection of signature moves. Product Picks SpookySwap and SushiSwap Integrations The DeFi Wallet’s built-in token swap feature now supports the seven largest chains by total value locked (TVL). With the latest integrations, you can now easily swap over 50 tokens on the Fantom and Arbitrum blockchains directly via the DeFi Wallet. Save NFTs to Your Camera Roll  You can now save NFTs to your device’s camera roll on DeFi Wallet. Additionally, easily view NFTs on Etherscan, Cronoscan, and the Crypto.org Explorer, depending on the blockchain that the collectibles are minted on. DeFi Desktop Wallet Supports Ethereum Network and ATOM You can now store and transfer any ERC20 asset and add any EVM network connection to the DeFi Desktop Wallet, giving you quick access to the dApps built on those blockchains. We’ve also added support for ATOM and a bridge from Cosmos to Cronos so you can easily access more dApps on Cronos chain. Learn more. Crypto Level Up What is Web3? Web3 is more than just a buzzword. To understand the changes it brings, let’s look at how the web started and has evolved over the years. Web1. In the early days of the Internet, the web experience was passive, static, and one way, like reading a brochure or catalogue. Remember Netscape web browser? Web2. The web we know today. More social and interactive, it has changed the way we interact online. But Web2 has also given too much power to just a handful of big tech companies, leading to questionable business practices. Web3. Still a work in progress, Web3 aims to take power away from big centralised organisations and put it into your hands, the user. The vision is for everyone to own their part in the new decentralised web.Check this detailed timeline to learn more about Web3. Crypto IRL ‘Catch me if you can!’ said Mr Crabsy while doing some mild weightlifting with Obsidian Crypto.com Visa Card, proudly shared by our friend @pmbrsantos. Featured Merchant Julien Martin, founder of Cold Beach, tells us with burning passion what the upsides of crypto are for small-business owners. Your business is in handcrafted scented candles — what is your connection to the more abstract world of digital currencies? The connection is a rather personal one. I have personally been involved in crypto since 2017 — it started as an interesting take on the future of currency and became a legitimate alternative. In 2017, I made my first purchase using Bitcoin. However, back then, cryptocurrency was still in its infancy, and it was a lengthy process.  I knew better solutions were coming, and they did — Crypto.com Pay. Paying with crypto is now a tap away with a QR code scan on any merchant that accepts it. This is what brings me to using digital currencies on a commercial level. As a small-business owner, I do all the bookkeeping myself, and it’s no secret that it’s a daunting task when using fiat.  I’m stretched thin between making candles, conducting marketing, onboarding new retailers, and working full-time in an unrelated field. Crypto.com Pay’s painless onboarding, seamless integration, and simplified currency settlement are what I needed. Let me tell you: If I can do my bookkeeping while accepting crypto, anyone can. We are intrigued — what are wax melts? Wax melts are almost materially the same as candles: wax, fragrance, colour, labelling, and container. The difference, however, is that there is no wick. The melts themselves are usually contained in a clamshell containing six wax cubes. They are a great alternative to candles, as they are flameless and placed on a plate heated by electricity. They require less supervision than a lighted candle and are much cheaper because candle jars/vessels usually cost more than all the other materials combined.  What opportunities do you see in crypto for small businesses? Crypto has always been a headache for bookkeeping purposes: exchanging, settlement, receiving, and sending. It all requires a paper trail. This is especially difficult when you add the current legislative nuance and uncertainty. With Crypto.com Pay, I can keep that out of my mind and get paid in TrueCAD. The opportunities we see in crypto are endless.  Still, I’ll stick with what’s most important as a business owner: getting paid reliably, with no downtime. Cryptocurrency doesn’t experience downtime. Websites are no longer just hosted in one place. You can use the best payment processors in the world and still experience downtime, which costs you money, sales, and opportunity. Yes, some protocols are in their infancy and can experience downtime, but that’s fine — use another one. There is a plethora of high-quality chains that are battle-tested and reliable.   What’s the most exciting thing you have paid for in crypto? In 2017, I used Bitcoin to buy video games at a reduced price. Since then, I have made small purchases, such as a Dyson cordless vacuum, and occasionally used crypto to pay for things such as groceries and other essentials. In the future, I hope to use it for a down payment sometime in the next five years. Decoder Bear Market — A bear market represents a period in which the average prices of assets are on a prolonged decline. TradFi uses the term ‘bear market’ to define a market that drops by 20% or more. In other words, prices are low and projected to continue dropping for an extended period of time.  During a bear market, the economy is slow, with low employment rates and a pessimistic outlook. These conditions often arise from geopolitical crises, natural disasters, political tensions, or poor economic policies.  A bear market is also known as the markdown phase within a crypto market cycle. Often, unfavourable news on the crypto industry fuels the fire. This negative feedback loop causes many users to hold off on buying due to the belief that prices will continue to drop lower in the coming months. This Week in Crypto History El Salvador continues to bet big on Bitcoin. This time last year, El Salvador showed its continued conviction in Bitcoin by approving a US$150M BTC buy. This came in the same year that El Salvador recognised Bitcoin as legal tender — a huge milestone for Bitcoin on its journey to mass adoption. That’s it for this week’s Snapshot. Want more? Visit our Instagram for quick crypto lessons that help you navigate the space.
Scottie Pippen (Basketball Player) Received A Personalized NFT

Bitcoin To US Dollar Started This Week With Downside

InstaForex Analysis InstaForex Analysis 05.09.2022 14:33
Technical analysis:   BTC/USD has been trading downside this morning and I see potential for the brekaout of the well defined triangle pattern. Trading recommendation: Watch for the breakout of the triangle pattern to confirm further downside continuation. Downside objectives are set at the price of $19.000 and $18.000 Stochastic is showing overbought condition and fresh bear cross, which is sign that we might see downside movement. Key resistance is set at the price of $20.500     Relevance up to 14:00 2022-09-06 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291433
In The Coming Days Will Be The Final Consolidation Of Bitcoin

The Bank Of Russia Has Admitted That The Use Of Cryptocurrencies Is Inevitable

InstaForex Analysis InstaForex Analysis 06.09.2022 09:17
Crypto Industry News: According to media reports, the Bank of Russia has admitted that the use of cryptocurrencies to clear cross-border payments is inevitable. The institution cites the current geopolitical conditions as a reason for such a decision. The Russian central bank is once again considering changing its approach to regulating cryptocurrencies. Now agreed with the finance ministry to legalize digital assets for cross-border payments, local news agency TASS said on Monday. Deputy Minister of Finance - Alexei Moiseev - said that the Bank of Russia and the Ministry of Finance are working together on a law recognizing digital assets in cross-border trade as legal tender. Moiseev highlighted the crucial importance of enabling local cryptocurrency services in Russia. He drew attention to the fact that many Russians use foreign platforms to open a portfolio for digital assets. "It is necessary to do this in Russia, with the involvement of entities supervised by the central bank, which are obliged to comply with anti-money laundering requirements and the KYC principle," the official said. Russian lawmakers have repeatedly opposed the idea of using cryptocurrencies as a payment method. In 2020, Russia passed the important Digital Financial Assets Act which officially prohibited the use of digital coins such as bitcoin (BTC) for payment purposes. The Bank of Russia has been quite skeptical about the cryptocurrency payment proposal from the start. The institution, through its stubbornness, wanted to protect the Russian ruble as the only legal tender in the country. Interestingly, the idea of introducing this type of payment in domestic trade appeared in Russia already at the end of 2021. Then the President of Russia, Vladimir Putin, announced that it was "too early" to use cryptocurrencies to trade energy resources such as oil and gas . Technical Market Outlook: The BTC/USD pair keeps trading inside the narrow range as the volatility dries up and the market continues the whipsaw movement between the levels of $19,521 - $20,586. The key short-term technical support is the zone lower line seen at $19,521 and any violation of this level would trigger another down wave towards the level of $18,940 (short-term technical support and target for bears). The momentum remains neutral with occasional spikes into the positive and negative zones. Weekly Pivot Points: WR3 - $20,411 WR2 - $20,111 WR1 - $19,911 Weekly Pivot - $19,840 WS1 - $19,610 WS2 - $19,509 WS3 - $19,209 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 08:00 2022-09-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291528
The Bitcoin Fall Will Likely Continue In The Future

What Potential Will Bitcoin Show Today? To Buy Or To Sell?

InstaForex Analysis InstaForex Analysis 06.09.2022 11:41
Technical analysis:   BTC/USD has been trading sideways in the trading range at the price of $20.000 but I see potential for the breakout mode. Trading recommendation: In case of the downside breakout of the support at the price of $19.500, watch for selling opportunities with the downside objective at the price of $18.000 In case of the upside breakout of the resistance at the price of $20.500, watch for buying opportunities with the upside objective at the price of $21.700     Relevance up to 10:00 2022-09-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291572
Ethereum Prices Should Hold Above Interim Support To Keep The Bullish Structure Intact

The Situation Around ETH/USD Is Becoming More And More Bullish

InstaForex Analysis InstaForex Analysis 06.09.2022 14:38
The cryptocurrency market is approaching a controversial period—autumn. On the one hand, the market has cheered up due to the upcoming Merge update and the likely easing of monetary policy due to the US congressional elections in November. At the same time, Bitcoin has historically had a bad September. The probability of maintaining this trend increases significantly, given the high probability of a 75 basis point rate hike. Despite all the inconsistency of the situation, Bitcoin and Ethereum still have chances to spend September on a bullish note. Bitcoin remains within the narrow range of fluctuations of $19k–$20k. The area formed after the breakdown of the key support level at $20.8k. Bearish pressure forced the cryptocurrency to move to the consolidation stage, but the process is moving very slowly. Glassnode experts note that BTC network activity is at a local low. Given the volatile nature of the upcoming economic events, the probability of an increase in trading volumes increases significantly. The current lull is also fundamental. Markets are pricing in a 70% chance of a 75 basis point rate hike in September, according to BBG analysts. On Thursday, Fed Chairman Jerome Powell will speak at the Cato Institute conference. Given the market reaction to the official's previous speech, there is every reason to believe that Powell will give the market clues about the Fed's next steps. Given the pessimistic expectations of the market, hints of a rate hike within 50 basis points could have a positive impact on the short-term prospects for the cryptocurrency market. The ECB meeting will be the second major event on Thursday. The meeting of the Bank will consider the issue of the level of the key interest rate and the interest rate on the deposit line. Most experts are inclined to increase the indicator by 100 and 50 basis points, respectively. For the cryptocurrency market, this will be a negative signal, as it will untie the hands of the Fed and allow you not to look back at the position of the euro against the US dollar. For the most part, Thursday will show which direction the stock and crypto markets will move in the coming weeks. Technically, Bitcoin continues to trade sideways for the tenth day in a row. Trading volumes remain low, which does not allow one of the parties to take the initiative. Technical indicators continue to move sideways without the presence of impulse movements in any of the directions. At the same time, the stochastic oscillator once again tries to enter the green zone, forming a bullish crossover. However, given the trading volumes, this attempt will not be successful. With regard to BTC/USD, the bearish idea remains relevant with a gradual breakdown of the $19k–$19.5k support zone, after which the asset may retest the local bottom. As of September 6, Bitcoin does not have the potential to be bullish and consolidate above $20.5k. The long-awaited transition of Ethereum to the Proof-of-Stake algorithm begins today. Ethereum's bullish potential could increase significantly if the cryptocurrency manages to successfully complete the merger of networks as part of the first stage of the Merge. Against the backdrop of the process that has started, investor interest in ETH is starting to grow again. The cryptocurrency has successfully broken through the $1,600 level and continues its upward movement. Given the nervousness surrounding Ethereum's transition to the new algorithm, the importance of today's merger phase cannot be underestimated. If everything goes according to the planned scenario, then we can expect the continuation of the bullish movement to the $1,800–$2,000 range. Ether's technical metrics support the thesis that the recent drop in Ether was a healing corrective move. As of September 6, the bullish mood of ETH investors is again showing an upward trend. The Relative Strength Index crossed 40 and continues to move upward, indicating growing buying power. The stochastic oscillator indicates a high level of bullish sentiment and a fast implementation of bullish patterns. The situation around ETH/USD is becoming more and more bullish, and among the immediate targets of the asset, it is worth highlighting the range of $1,650–$1,700. If this area is broken, the price will go to the final resistance line for the last six months at $1,800–$2,000. These are the short-term goals of Ethereum with a favorable development of the situation. In the long term, the target of $2,800 remains relevant.   Relevance up to 10:00 2022-09-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320933
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

Britain's New Prime Minister Is Friendly For Cryptocurrencies, The BTC/USD Is In The Down Trend

InstaForex Analysis InstaForex Analysis 07.09.2022 09:43
Crypto Industry News: Liz Truss, Britain's new prime minister, has spoken out about the past on cryptocurrencies. For example, she once said that "we should welcome cryptocurrencies in a way that does not limit their potential." Now she defeated former Chancellor of the Treasury Rishi Sunak, who had a plan to make Britain a cryptocurrency-friendly country in the struggle for power. Liz Truss won the race for the position of the new British Prime Minister, beating former Chancellor of the Treasury Rishi Sunak. The foreign minister has so far won leadership in the Conservative Party, but will eventually replace Boris Johnson as head of government. Johnson will meet Queen Elizabeth today to formally submit his resignation. The Queen then appoints Truss as Britain's new Prime Minister. Truss, 47, has promised to act quickly to beat the inflation that is currently eating away at the pound's value. "I will take bold steps to guide us all through these difficult times, develop our economy and unlock the UK's potential," she wrote on Monday on Twitter. In contrast, Sunak has openly stated that his goal is to make the UK a cryptocurrency and blockchain hub in the region. "My ambition is to make the UK a global cryptocurrency asset technology hub, and the measures we presented today will help ensure that companies can invest, innovate and thrive in this country," he said a few months ago. Technical Market Outlook: The BTC/USD pair had broken out from the narrow consolidation zone and made a new swing low at the level of $18,553. The market conditions are now extremely oversold on the H4 time frame chart, so an intraday bounce is expected towards the level of $18,940. The main trend remains down and the next target for bears is located at $17,600. Weekly Pivot Points: WR3 - $20,411 WR2 - $20,111 WR1 - $19,911 Weekly Pivot - $19,840 WS1 - $19,610 WS2 - $19,509 WS3 - $19,209 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.     Relevance up to 08:00 2022-09-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291733
ByBit talks trading bots. What are they? How can they help?

The Bitcoin With Downside And The Selling Opportunities

InstaForex Analysis InstaForex Analysis 07.09.2022 10:30
Technical analysis: BTC/USD has been trading downside and I found the breakout of the multi day consolidation and first target reached at $19.000. I still see further downside movement. Trading recommendation: Due to the breakout of the multi day consolidation in the background and no big signs for the reversal, I see further downside movement. Watch for the selling opportunities on the rallies with the next downside objectives at the price of $17.700 and $14.000. MACD oscillator is showing fresh downside money flow, which is sign that sellers are in control. Key resistance is set at the price of $20.500     Relevance up to 09:00 2022-09-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291754
Increase Of Whales Wallets And California's Digital Financial Assets Law

Increase Of Whales Wallets And California's Digital Financial Assets Law

Conotoxia Comments Conotoxia Comments 01.09.2022 15:06
Whales Wallets The number of wallets holding between 100 and 10,000 BTC, or so-called whales, is on the rise, according to Santiment data. The analytics firm found that, despite the token's declines in recent days, the rate of accumulation of the largest cryptocurrency has increased. Given the correlation that exists between the price of BTC and the number of whale addresses, this could be a positive signal for bulls. The reported number of such wallets now stands at 15,847 – a level close to the numbers last seen in June.  On the Conotoxia MT5 platform, both BTC and ETH are losing around 1.3% today, at 12:00 GMT+3. Bitcoin is testing a likely support level of $19910. Ethereum's declines appear to be less regular. This may be related to higher volatility, possibly related to the upcoming Merge. ETH may be near a possible support level of $1530.  California is close to licensing crypto companies and posing restrictions on stablecoins California State Governor Gavin Newsom is expected to sign into law the recently passed 'Digital Financial Assets Law', which will require exchanges and other crypto firms operating within the state to be properly licensed. The California law appears to be similar to New York's BitLicense, introduced in 2015. That document required companies to obtain a licence from the State Department of Financial Services to serve customers residing in New York State. Holders of such a licence include Ripple Labs (XRP), Coinbase (COIN), Robinhood (HOOD) and PayPal (PYPL),  California's new law is expected to take effect in January 2025. In addition to the licensing requirement, the new regulation bans stablecoins that are not issued by banks or licensed by the California Department of Financial Protection and Innovation from 2028. Another clause in part of the bill requires stablecoin issuers that hold assets as reserves to have an amount "not less than the aggregate amount of all of its outstanding stablecoins issued or sold in the United States,". This is to be done under GAAP accounting standards.  The introduction of the 'Digital Financial Assets Law' may be linked to the wave of fraud that the crypto meltdown of the past year has revealed. 
Hawkish Fed Minutes Spark US Market Decline to One-Month Lows on August 17, 2023

The US Jobs Report Could Be A Negative Catalyst

Kenny Fisher Kenny Fisher 02.09.2022 13:35
Stock markets in Europe opened positively on Friday after what has been an otherwise rotten week, while Asia was fairly mixed ahead of the US jobs report. It will be interesting to see whether Europe can maintain the rebound today considering we’re heading into the weekend not certain that gas will start flowing through Nord Stream 1 again tomorrow. Grid data suggests it will but until the gas starts actually flowing, it remains a risk. That weekend risk may make investors a little nervous as we progress through the session and could lead to more caution as we approach the close. The US jobs report could also be a negative catalyst later in the session if it’s deemed strong enough to warrant more aggressive tightening from the Fed. We’ve seen a lot more risk aversion in the markets recently as Fed commentary has finally gotten through to investors. We’re still seeing remarkable resilience in the US data, particularly the labour market, even if some cracks are appearing elsewhere. While the NFP and unemployment will naturally attract the most attention initially, it’s the wages that could tip the balance at the central bank, with policymakers concerned about inflation becoming entrenched. Will Japan intervene as the yen hits a 24-year low? The yen has been back in focus in recent days, having fallen to a 24-year low against the dollar on Thursday, breaking above 140 in the process. This level has been speculated a lot about in recent months as being the point at which Japanese officials may be tempted to intervene in the markets and comments overnight could further fuel that, with one spokesperson warning moves are being watched with a high sense of urgency. That doesn’t appear to have happened yet and we’re not likely to see any shift from the Bank of Japan either if recent commentary is anything to go by. While inflation is currently above its target, that’s not expected to last and there’s seemingly little appetite to change course. That could mean further declines in the yen until intervention is deemed necessary, although the threat of such action could slow the decline as we’ve already seen. Treading water ahead of the jobs report Bitcoin has been treading water around $20,000 over the past week, perhaps with one eye on today’s jobs report. This is clearly a major level of support and a significant break of it could see further losses, with $17,500 the next major test being the level it bottomed at in June. Risk appetite in the markets has not been positive recently which has weighed heavily on bitcoin and other risk assets. The jobs report today could compound that if it feeds inflation fears and raises the odds of another 75 basis point Fed hike this month. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Macroeconomics Causing Declines On Cryptocurrency Market?

Conotoxia Comments Conotoxia Comments 07.09.2022 15:55
The major tokens have experienced significant declines after a consolidation phase lasting more than a week and a half. Now they are at levels last seen in June and the lowest since the crypto bull market of H2 2020. Are cryptocurrencies in trouble? The cryptocurrency market set a local low at the end of August. Afterwards, it entered a phase of growth that restored optimism in many investors. BTC, ETH and BNB have since gained 30%, 100% and 66% respectively. However, the deteriorating macroeconomic environment, despite the optimism about Ethereum's Merge, seems to be pushing the quotes lower and lower. BTC Bitcoin stands out as having the largest market capitalization and receives a lot of attention from analysts and investors. At 20:00 GMT+3 yesterday, BTC broke through the critical level of probable support of $19530 and dove lower. It is hard to say what the next level of support might be, but it is most likely a long way down from the current price. The daily drop was about 4% yesterday. BTC price, daily candles Today, the declines continue and on the Conotoxia MT5 platform at 11 GMT+3, BTC is losing about 1%. The price is below the 100, 50, 20, and 10-day moving averages. A reading of popular indicators: MACD and the directional indicator (ADX) may indicate a continuation of the trend (MACD marks the next lower bars of the histogram and ADX draws an increasing difference between the +DI+ and +DI directional lines). ETH Ethereum is the second cryptocurrency by market capitalization. It has gained a whopping 100% of its value in the recent surge most likely triggered by a wave of news about the upcoming Merge (the transition from proof-of-work (POW) to proof-of-stake (POS) blockchain). According to the Ethereum Foundation Blog, the technology transition will save approximately 99.5% of energy and significantly cut the cost of money transfers. On the Conotoxia MT5 platform at 11 GMT+3, ETH is losing around 3.8%. Technical analysis may indicate a slightly better situation for the token than BTC. ETH price, daily candles Today, ETH broke through the possible support level of $1530, but this has already happened to an even bigger degree a week and a half ago. The price also broke through most of the analysed moving averages today (100, 20 and 10-day), except for the 50-day moving average. Through the strong rally in recent weeks, the token despite falling as much as 23.7% from its local peak is only slightly below the average (50 points) of the RSI indicator, which may indicate a lack of signal. The MACD is most likely pointing to a continuation of the declines (the MACD histogram marked another bearish bar today, interrupting the several-day upward trend). The directional indicator (ADX) does not seem to give a clear signal yet, but with the continuation of ETH's declines, it could happen any day now. Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Source: BTC and ETH down - cryptocurrencies in trouble? (conotoxia.com)
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Hut 8 Increased Its Resources. Bitcoin: The Bearish Pressure Is Still High

InstaForex Analysis InstaForex Analysis 08.09.2022 09:16
Crypto Industry News: Canadian mining company Hut 8 reported that its bitcoin holdings had surpassed the 8,000 mark, amassing its own resources in the wake of the cryptocurrency market crash. Hut 8 published its latest mining report for August 2022. We read in it that the company increased its resources by 375 BTC in a month. In total, the miners' reserve is 8111 BTC. The company said it was mining 12.1 BTC per day for a month. While other mining operators were forced to sell some of their BTC holdings in the midst of the ongoing cryptocurrency market downturn, Hut 8 managed to continue its "longstanding HODL strategy" without getting rid of the bitcoin mined. Hut 8 also announced that it has installed 180 Nvidia GPUs in its main data center in Kelowna, Canada. This center is currently mining Ether. However, after the September update, GPU mining hardware will be used to provide artificial intelligence, "machine learning" or VFX rendering services. Hut 8 also continued to increase its mining capacity with the acquisition of Chinese ASIC MicroBT miners. The company paid $ 58.7 million for 12,000 new MicroBT M30S, M30S + and M30S ++ miners in October 2021. It also received orders for 1,000 machines a month by the end of 2022. Technical Market Outlook: The BTC/USD pair had bounced form a new swing low located at the level of $18,553 and is about to test the consolidation zone lower line seen at $19,521. The market conditions are now neutral as the bounce was made from the extremely oversold conditions. The main trend remains down and the next target for bears is located at $17,600. Weekly Pivot Points: WR3 - $20,411 WR2 - $20,111 WR1 - $19,911 Weekly Pivot - $19,840 WS1 - $19,610 WS2 - $19,509 WS3 - $19,209 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.     Relevance up to 08:00 2022-09-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291897
Bitcoin Maintains A Steady Bullish Potential

Will Bitcoin's Situation Improve? The First Signal For A Gradual Stabilization

InstaForex Analysis InstaForex Analysis 08.09.2022 12:01
The cryptocurrency market and Bitcoin are entering another phase of a bear market. The capitalization of all digital assets once again dipped below $1 trillion, which indicates a decrease in buying activity and aggravation of short-term negative factors. Despite this, Bitcoin managed to realize a local bullish momentum and gain a foothold above $19.1k. The bullish rebound of the cryptocurrency once again proved the powerful foundation of Bitcoin. The main cryptocurrency fell to the lower limit of the $18.5k support level, but subsequently the buyers did not let the price go lower. As a result, Bitcoin formed a green candle and settled above $19k. In the local perspective, this is a positive moment, which will delay further price reduction. At a distance of 7–10 days, the rebound of the cryptocurrency is not of fundamental importance, as the situation remains bearish. The green candle following the results of September 7, was unable to absorb the volumes of sellers. Technical metrics confirm that the bears have the initiative. The RSI and Stochastic tried to realize a bullish momentum, but in the end, the metrics reversed under the pressure of the sellers. On the daily timeframe, we see how the price of Bitcoin is gradually approaching the assault on the final support segment of $18.5k–$19.1k. BTC/USD quotes have completed the first spike at the $18.5k level. Most likely, over the next few days, we will see a retest of the support area. The next stage of the price fall will provoke a news background that risks confirming the pessimistic expectations of the market. Despite this, many analysts point out that Bitcoin is showing a high level of resilience in the current bear market. This indicates a high level of fundamental interest in Bitcoin, which can soon change the situation for the better. The first signal for a gradual stabilization of the situation was the unexpected conclusions of Arcane Research about the financial stability of public mining companies. Analysts have confirmed that the majority of miners are facing financial difficulties due to the energy crisis as well as the fall in the price of Bitcoin. However, thanks to large stocks of cryptocurrencies and financial reserves, mining companies survived. As of September 8, none of the public miners have filed for bankruptcy. Given this fact, as well as the gradually growing Bitcoin hashrate (+9% in August), Arcane concluded that the worst period for miners is over. In addition to the hashrate, this is evidenced by the positive dynamics of the growth of reserve volumes of mining companies. The improvement in the situation of mining companies was largely due to the constant sale of BTC coins for liquidity. At the moment, this process exerted strong downward pressure on the price of the cryptocurrency. If you look at the situation in the long term, then the sale of miners is a logical and healthy process of transferring coins to long-term investors. This is the process we have been observing for the last three months. During this period, the number of wallets with 0.1–10,000 BTC updated absolute highs, confirming the active period of accumulation, which is typical for Bitcoin corrective cycles. There is also an active decrease in the balances of BTC coins on crypto exchanges. Now we are approaching an ambiguous factor that can have a different effect on the capitalization of Bitcoin. The Fed's hawkish policy raises more and more questions within the US and provokes a recession in the US economy. At the same time, inflation remains high, and the department's goal, according to Powell, remains around 2% per annum. Fed officials have also repeatedly stated that they will maintain the agency's current course until significant results appear. This suggests that the situation will not change dramatically in the coming months. The positive here is the BBG study, according to which the market lays a 70% chance of a 75 basis point rate hike in September. The market has adapted to the shock therapy from the Fed, and therefore we should not expect a significant increase in volatility during this period. Despite the leveling of local problems with the fall of markets, the global situation does not change. The liquidity crisis complicates the situation for the entire industry, and therefore there is no reason to count on the growth of capitalization. Given the rate of inflation decline, as well as the current level of the key rate, the situation will begin to change dramatically in November 2022. The catalyst for the growth of Bitcoin and the cryptocurrency market will be the elections to the US Congress. Most analysts are inclined to believe that the government will inject liquidity into the markets to improve economic health before a major political event. In addition, by November, the rate will remain at a high level for quite a long period of time, which suggests an increase in the rate of decline in inflation. Given these factors, we can assume that the first thaw after the crypto winter will occur in November. However, it is still too early to judge its fundamental impact on the cryptocurrency market due to insufficient statistical data.       Relevance up to 10:00 2022-09-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321160
Qatar's Leniency Towards Crypto Violators Under Scrutiny: Global Watchdog Calls for Stronger Action

Bitcoin With Further Selling Opportunities

InstaForex Analysis InstaForex Analysis 08.09.2022 13:47
Technical analysis: BTC/USD has been trading sideways this morning and I see potential for the downside rotation due to the strong resistance in the background. Trading recommendation: Due to the breakout of the trading range in the background and potential for downside continuation, I see further selling opportunities. Watch for the selling opportunities on the rallies with the downside objective at the price of $18.600. MACD oscillator is showing upside reading but with no big upside momentum, which can be a sign for the downside rotation. Key resistance is set at the price of $19.600 Read more: https://www.instaforex.eu/forex_analysis/291987     Relevance up to 13:00 2022-09-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291987
ByBit talks Grayscale Bitcoin Trust. How Does GBTC work?

Do You Know How Low Was Bitcoin Price Yesterday? | ECB's Decision

Craig Erlam Craig Erlam 08.09.2022 16:15
A mixed session in Asia overnight after Wall Street rebounded on Wednesday, while Europe is poised to open a little higher as well. It’s been a frankly awful few weeks for stock markets so yesterday’s gains will come as a mild relief, albeit one I don’t think anyone is getting particularly excited about. Given the economic backdrop, this could be nothing more than a dead cat bounce. Of course, there may be more potential next week if the US delivers a favourable inflation report. With the BoC and RBA both signaling a desire to ease off the brake in the months ahead, the Fed could be next if inflation allows, at which point we could see investors become a little more optimistic as they assess the damage. Perhaps the anticipation of another encouraging inflation report is what’s already tempting investors back in. More bold action needed from the ECB Of course, not all central banks are at the dovish pivot stage yet, in fact, the ECB is only just getting started. Today’s rate hike is only the second of the cycle and will take the deposit rate above zero for the first time in a decade. There’s a long way to go to get inflation in check which makes a 75 basis point hike all the more reasonable. This is the problem with starting the process so late and learning nothing from the experience of other central banks this year, the ECB is forced to play catch up quickly and the economy could suffer the consequences. A recession looms for the euro area and the central bank is not going to make the process any easier. Lockdowns persist Asia appears to have missed out on the midweek rebound and China’s zero-Covid strategy may be to blame. The country announced an extension of the lockdown in Chengdu which exacerbated fears of an economic slowdown in China as it continues to push back against the yuan decline, support the property market and boost domestic demand. Clearly, the impact of its Covid stance stretches beyond its own borders and today it appears to be taking a toll on regional markets. Sell-off momentum fading? Bitcoin recovered a little on Wednesday after slipping to around $18,500 – its lowest level in almost three months – as broader markets pared recent moves. It’s lower again today though and appears to have quickly run into resistance around $19,500 where it had seen strong support in late August and early September. It’s not looking great for crypto, with bulls perhaps hoping sentiment in the broader markets can sustain some of yesterday’s lift. One thing worth noting is that momentum in the decline appears to be fading which could suggest we’re seeing some profit taking on approach to the June lows, which may support the price in the short-term. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Scottie Pippen (Basketball Player) Received A Personalized NFT

Bitcoin Is Losing Market Share To Competing Altcoins

InstaForex Analysis InstaForex Analysis 09.09.2022 09:46
Crypto Industry News: The cryptocurrency industry has lost a trillion dollars in recent months as Bitcoin plunged below $ 20,000. Famous investor Peter Schiff says the fierce competition from altcoins is taking its toll. Less than a month ago, the price of Bitcoin soared above the $ 23,000 mark. The sharp decline in the cryptocurrency in the remainder of August until this week saw a correction of about 20% of its total market capitalization. Schiff Gold Fund CEO and Austrian economist Peter Schiff says Bitcoin is losing market share to competing altcoins: "BTC dominance has dropped to 38.1%, its lowest level since June 2018. Competing against nearly 21,000 other intrinsically worthless digital tokens, NFT and cryptocurrency-related stocks is taking its toll. Even though Bitcoin is unique, its alternatives are not." Several crypto Twitter commentators were quick to disagree with Peter Schiff's claims. Even his son Spencer has questioned his father's claim that all competition in the crypto markets is flooding with Bitcoin. It is true that many new cryptocurrencies do not have a known supply limit of 21 million coins on the Satoshi Blockchain. However, Bitcoin does not necessarily compete with its peers in the cryptocurrency sector. The fast-growing market offers a wide variety of virtual financial services. Moreover, as Peter Schiff himself pointed out, not all Bitcoin "peers" offer users a currency based in part on the economy of digital scarcity. So they don't really compete for the same users. Technical Market Outlook: The BTC/USD pair had bounced form a new swing low located at the level of $18,553 and is trading back above the $20k level. The last local high was made at $20,822 (at the time of writing the analysis) and the next target for bulls is seen at $21,368 (100 DMA). The market conditions are now neutral as the bounce was made from the extremely oversold conditions. The main trend remains down and the next target for bears is located at $17,600. Weekly Pivot Points: WR3 - $20,411 WR2 - $20,111 WR1 - $19,911 Weekly Pivot - $19,840 WS1 - $19,610 WS2 - $19,509 WS3 - $19,209 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.     Relevance up to 09:00 2022-09-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292122
What Should We Expect From The Bitcoin Formation In The Near Future?

Bitcoin: Good Sign For Further Rally And Potential Buying Opportunities

InstaForex Analysis InstaForex Analysis 09.09.2022 10:19
Technical analysis: BTC/USD has been trading upside in the background and there is the breakout of the supply trendline, which is good sign for further rally. Trading recommendation: Due to the breakout of the supply trend-line and strong upside momentum, I see further rally. Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $21.940. MACD oscillator is showing the fresh upside momentum and the reading is positive after long time, which is good sign for further rally. Key support is set at the price of $19.000       Relevance up to 10:00 2022-09-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292144
Changing correlation of Bitcoin and US stocks. Brazil: Lower house of Congress approved crypto regulation bill

Regulating The Cryptocurrency Market, Powell Calls For Stablecoin Regulation

InstaForex Analysis InstaForex Analysis 09.09.2022 12:16
The White House has published a new report that urges US policymakers to consider legal restrictions or outright restrictions on cryptocurrency mining in order to reduce the industry's environmental impact. The White House Office of Science and Technology Policy report focuses on the cryptocurrency mining industry, which has grown significantly in the US over the past two years. U.S. President Joe Biden's executive order on cryptocurrencies in March led to a report proposing standards focused on clean energy use, low water consumption, and low energy intensity. The report recommends a complete ban on such protocols that damage the environment. The report also provides a list of recommendations designed to ensure the development of digital assets. According to the report, the goal of these recommendations is to close data gaps, manage electricity demand, reduce greenhouse gas emissions, reduce e-waste and environmental pollution. And also to support the transition to clean energy. Cryptocurrencies need better regulation In addition to the White House report, U.S. regulators issued a statement on Thursday about their intentions to dominate the cryptocurrency sector and bring some law and order to the nascent asset class. Speaking at an industry conference, Gary Gensler, chairman of the Securities and Exchange Commission (SEC), said he supports the idea of Congress giving more power to the Commodity Futures Trading Commission (CFTC) to regulate cryptocurrencies. Allowing the CFTC to manage the BTC and ETH markets will allow the SEC to focus on regulating the rest of the crypto market, as the agency believes that all other cryptocurrencies are securities and should be governed by existing securities laws. Powell calls for stablecoin regulation Federal Reserve Chairman Jerome Powell discussed stablecoin legislation during a live speech. These statements by Powell echo similar comments from regulators around the world, including the IMF, which emphasize the importance of creating a solid legal framework regarding the use of stablecoins.   Relevance up to 09:00 2022-09-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321268
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Bitcoin: What's Next For The Leader Of The Cryptocurrency?

InstaForex Analysis InstaForex Analysis 09.09.2022 13:02
The calm in the financial markets is deceptive. Those who lost interest in bitcoin because it fell into the 5.4% trading range, the narrowest since October 2020, can eat their hearts out. The nature of the market is such that consolidations are replaced by trends, and vice versa. And the longer this or that asset is traded in a narrow range, the more explosive its further rally promises to be. Or, conversely, collapse. In the case of BTCUSD, the pendulum could have swung either way, but the fall in the US dollar inspired the token to surge. Looking at the peak of the leader of the cryptocurrency sector to the very bottom since mid-June, the "bears" rubbed their hands. In their opinion, the decline in miners' incomes to the lowest level in the last two years due to increased competition, increased electricity costs, and the crypto winter should have forced them to sell tokens to cover the costs. On the contrary, BTCUSD bulls pointed to the rise in the ratio of open interest in perpetual swap contracts for crypto assets to the number of coins held in reserves on exchanges, or the so-called leverage ratio, to record peaks. Despite bitcoin's 70% drop from its November highs, interest in it is still high. So, prices will rise, you just need to wait for the right moment. Dynamics of Bitcoin and Leverage Ratio The problem is that no matter how much the fans of crypto assets would like to live an independent life, it will not work. Big money has long entered the market, which perceive bitcoin as a risky instrument, and the fate of such assets depends on the Fed and its monetary policy. In this regard, the fall of BTCUSD against the backdrop of Jerome Powell's hawkish rhetoric in Jackson Hole and the growth of the pair's quotes on expectations of a slowdown in US inflation look logical. Comments from FOMC officials, determined to fight the highest prices in decades and willing to sacrifice the labor market and the economy to do so, raised the chances of a federal funds rate hike by 75 bps in September to 86%. Large banks added fuel to the fire. Goldman Sachs and Nomura have changed their forecasts for the trajectory of borrowing costs. They see them up 75 bps in September and by 50 bps in November, up 25 bps higher than previous ratings. The cycle of monetary restriction will certainly not end there. However, according to the market, the figure of 86% is too high. It will certainly fall if US inflation continues to slow down in August from 8.5% to 8.1%, as Bloomberg experts predict. This circumstance makes it possible to sell the US dollar and buy risky assets, including US stocks and bitcoin. The markets are again going against the Fed, which they managed to do momentarily in the summer. I believe that history will repeat itself, so the potential for a BTCUSD rally seems limited. Technically, on the daily chart, consolidation above fair value at 20,000 amplifies the risks of a pullback. Start selling the token on the rebound from resistances at 21,500, 22,300 and 23,150.       Relevance up to 10:00 2022-09-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321276
The Analysis Of Off-Chain Metrics Allows Cryptocurrency Supporters To Count On A Reversal

The BTC/USD Pair Is Strongly Bullish, New Opportunities

InstaForex Analysis InstaForex Analysis 10.09.2022 12:25
The price of Bitcoin rallied and now is trading at 21,256. It has increased by 15.47% from Wednesday's low of 18,540 to 21,408 today's high. Technically, the price action signaled that the downside movement ended and that the buyers could take the lead. In the last 24 hours, BTC/USD is up by 10.74% and by 5.46% in the last 7 days. The rebound helped the altcoins to rebound and recover as well. BTC/USD Sell-Off Ended! As you can see on the H4 chart, the BTC/USD found support at 18,595 and now it has developed a strong rally. After escaping from the down-channel, the cryptocurrency was somehow expected to turn to the upside. Now, it has ignored the 20,575 and 20,700 resistance levels signaling potential further growth. BTC/USD Outlook! BTC/USD is strongly bullish and it could extend its growth without a temporary retreat. Breaking and closing above the 20,700 key level was seen as a bullish signal. The next major upside target is represented by the 22,400 level. Coming back to test and retest 20,700 could bring new long opportunities. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade       Relevance up to 19:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292228
The Gold Rally Is Continuing To Stall, This Could Be A Good Year For Crude Oil

Crude Prices Are Rallying On Supply Risks, Gold Is Higher

Kenny Fisher Kenny Fisher 10.09.2022 15:00
As the world mourns the death of Her Majesty Queen Elizabeth II, world leaders pay tribute for her incredible service and leadership. The UK enters a 10-day mourning period that will see some events delayed or suspended. ​ The BOE announced they will push back their interest rate decision to September 22nd. UK train strikes will be delayed as three British trade unions will suspend their scheduled strike action. ​ The Office of National Statistics confirmed the upcoming economic publications are due to go ahead. ​ That includes UK trade, GDP, unemployment, inflation, housing, and retail sales data. Wall Street is finishing the week on a positive note as the dollar’s rally has run out of steam as optimism grows for inflation to continue to come down. Economists are slightly lowering their inflation forecasts and that could mean the Fed won’t have to take rates above 4%. Another round of hawkish speak from both the Fed’s Bullard and Waller was not able to derail today’s stock market rally. ​ ​ It is looking like traders are growing confident they will soon see the end of the Fed’s interest rate hiking cycle. ​ Supporting the risk-on narrative was softer-than-expected Chinese consumer and producer inflation data that could pave the way for more easing by the PBOC. Oil Crude prices are rallying on supply risks and as the dollar has tentatively peaked. Lately it has been mostly bad news for oil prices as demand concerns worsened given China’s deteriorating COVID situation, a surprise jump in stockpiles, and on expectations world leaders will continue to exhaust emergency measures to send energy prices lower. Energy Secretary Granholm said President Biden is considering the new releases from the US Strategic Petroleum Reserve (SPR). Russia President Putin’s threat to cut off all energy supplies is a growing risk as Ukraine recaptures territory. ​ The risk of some supply disruptions over the next few months remains elevated and that should help oil prices stay above the $90 a barrel level. Gold Gold is higher as the historic run higher in the dollar appears to have run out of steam. It seems Wall Street is getting comfortable with the idea of another 75-basis point rate hike by the Fed. ​ Fed’s Bullard supports a third straight 75-bp interest rate hike even if next week’s inflation reports show price pressures continued to ease. ​ Fed’s Waller also supports another significant rate hike this month. Gold is finding a home above the $1700 level and that could continue if investors continue to look beyond hawkish central bank speak. Gold’s fate could be determined after this next inflation report. ​ If consumer prices come in hotter-than-expected, gold might see selling pressure target the $1680 region. ​ A sharp deceleration with pricing pressures might only provide a modest boost higher for gold as policy makers. Bitcoin Bitcoin is welcoming the return of risk appetite and a falling US dollar. ​ The broad market rally has rejuvenated cryptos and that could continue if investors continue to look beyond hawkish central bank overtures and lingering recession risks. ​ ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Cryptocurrency: Bitcoin Price - What Can We Expect From The Leading Crypto? (09.09.22)

Cryptocurrency: Bitcoin Price - What Can We Expect From The Leading Crypto? (09.09.22)

FXStreet News FXStreet News 09.09.2022 15:02
Bitcoin price remains at a critical level from a macro perspective and could still crash another 40%. BTC is primed for a quick recovery rally to $21,874 from a short-term outlook and could give bulls a much-needed break. Transaction history suggests a steep nosedive for the big crypto if these levels are breached. Bitcoin price has not only swept key swing lows, as noted in last week’s articles, but it has also reached its first recovery level target. While the recovery rally was as quick as it was a surprise, investors can hope for a minor retracement to get on the next leg-up. Although the short-term outlook might look bullish depending on the time frame, the larger picture for BTC remains massively bearish with the possibility of another catastrophic crash brewing. Bitcoin price and the macro outlook Bitcoin price, as described in the previous weekly update, continues to fill up the void, extending from $29,563 to $11,989. Very little volume was traded in this area as BTC rallied 145% between October 18, 2020, and December 29, 2020, creating an inefficiency. Hence, the recent dive in Bitcoin price is a corrective move to fill up the imbalance. As Bitcoin price tags the $19,087 to $20,562 support area, there is a remarkable yet obvious bullish reaction since this area coincides with the 2022 Point of Control (POC), or the highest traded volume level, at $20,562 . Investors can expect this bounce to extend a little higher as market participants vie for a recovery rally. However, the larger outlook is bearish, and a breakdown of the $19,087 level will trigger the next leg down. This nosedive could potentially shed 42% of Bitcoin price’s current value and push it down to $11,989 or the $12,000 psychological level, which could very well be the macro bottom for the big crypto and the entire market. Readers should note that this massive downswing is NOT likely to happen over the next two or three weeks but could occur in December 2022 or the first quarter of 2023. BTC/USDT 1-day chart Supporting this downtrend and the critical support areas described above for Bitcoin price is IntoTheBlock’s Global In/Out of the Money (GIOM) model. This on-chain index shows that the immediate support level at $19,230 is weak, and a breakdown could knock BTC down to the next support cluster that extends from $9,435 to $18,196. Here the roughly 4.95 million addresses that purchased 1.7 million BTC at an average price of $11,915 are “Out of the Money.” Interestingly, this level coincides perfectly with the one forecasted from a technical outlook and adds credence to the macro bottom occurring anywhere between $11,989 to $13,500. BTC GIOM On a lower time frame, Bitcoin price looks likely to pull back to $20,000 or $19,511 before making the next move. The rationale for this retracement is to refuel the bullish momentum before the next leg-up to equal highs at $21,874. A sweep of this level is likely to form a local top here, but Bitcoin price might revisit the $22,693 hurdle in a highly optimistic case. BTC/USDT 4-hour chart While Bitcoin price remains in an overall downtrend, a daily and a weekly candlestick close above $25,000 will invalidate the bearish outlook and suggest a premature reversal of the downtrend. In such a case, investors should wait for secondary confirmation like higher lows and higher highs before jumping on the bull run bandwagon that could potentially revisit the $30,0000 psychological level.
In The Coming Days Will Be The Final Consolidation Of Bitcoin

The Growing Blockchain Community In Switzerland And The Middle East

InstaForex Analysis InstaForex Analysis 12.09.2022 09:44
Crypto Industry News: The Crypto Valley Association, based in Switzerland's Zug, the self-proclaimed "cryptocurrency valley", will lead the partnership with its Dubai counterpart. The aim of the venture is to connect the growing blockchain community in Switzerland and the Middle East. Both associations were founded by Ralf Glabischnig, who played an important role in establishing Zug as the center of blockchain and cryptocurrency organizations. The new partnership between associations based in Switzerland and the United Arab Emirates aims to establish contacts and exchange information between companies in both countries. Crypto Oasis co-founder Faisal Zaidi will lead the CVA-led initiative in Dubai, which already has 1,100 organizations based in the United Arab Emirates. All actors are involved in its growing ecosystem. Zaidi highlighted Dubai's efforts to adopt and promote Zug's blockchain-based companies, products and services: "This alliance will connect the scattered world of blockchain, linking Switzerland, which is a leader in disruptive technologies, with the Middle East, which is set to become the new cryptocurrency and blockchain hub." The CVA has already carried out a similar initiative in July. A branch in Latin America was then established to take advantage of the burgeoning crypto sector in South America. As announced, the CVA has sent out an invitation from Dubai International Financial Center to visit Zug. This is to identify blockchain organizations that have the potential to migrate to the United Arab Emirates to strengthen their growing ecosystem. Technical Market Outlook: The BTC/USD pair had bounced form a new swing low located at the level of $18,553 and is testing the lower channel line. The last local high was made at $22,342, so the next target for bulls is seen at $22,410. Nevertheless, on the H4 time frame chart the Pin Bar candlestick pattern was made at the top of the move, so the bears are more active around the lower channel line. The market conditions are extremely overbought on the H4 time frame chart so a pull back towards the technical support located at $20,580 is welcome. The main trend remains down and the next target for bears is located at $17,600. Weekly Pivot Points: WR3 - $23,418 WR2 - $22,624 WR1 - $22,146 Weekly Pivot - $21,821 WS1 - $21,352 WS2 - $21,035 WS3 - $20,241 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade         Relevance up to 09:00 2022-09-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292307
ByBit talks trading bots. What are they? How can they help?

Bitcoin Has Been Trading The Bottom Line, Will Be Further Rally?

InstaForex Analysis InstaForex Analysis 12.09.2022 10:35
Technical analysis: BTC has been trading upside as I expected and the price reached first objective at the level $22.000 but I see potential for further rally towards next main target. Trading recommendation: Due to the strong upside momentum and no bigger signs for the reversal, watch for buying opportunities on the intraday dips with the upside objective at $25.000. MACD oscillator is showing fresh upside momentum, which is sign that buyers are in control. Key short term support is set at the price of $21.150 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade           Relevance up to 10:00 2022-09-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292352
Bitcoin Is Showing The Potential For The Further Downside Rotation

Will Bitcoin Overcome The Problems And Will Be Strong Again?

InstaForex Analysis InstaForex Analysis 12.09.2022 13:07
Contrary to forecasts and fears, Bitcoin managed to keep the $18.5k–$19k key zone intact. Due to this, the price of the cryptocurrency reversed and recovered above $22k over the weekend. Impulsive and powerful upward movement became possible due to a number of fundamental factors, as well as the categorical skepticism of market participants. As a result, Bitcoin reached the level of $22k and continues to consolidate to resume the upward movement. However, the influence of certain factors can significantly affect the prospects of the main cryptocurrency in the short term. At this stage, there are two fundamental problems for Bitcoin to resume its upward movement. One of them is the Ethereum update, which risks drastically changing the balance of power in the cryptocurrency market. Chainalysis analysts stated that, most likely, The merge update will give Ethereum an advantage over BTC and make it even more attractive to institutional investors. In addition to the upcoming interest in Ethereum, there has already been an increase in investment infusions into the altcoin. Indirectly, this is evidenced by the decrease in the level of Bitcoin dominance to the level of 39%. After an upward spurt over the weekend, the indicator reached the level of 41%, however, the second fundamental problem of BTC will not allow to build on this success. The key deterrent to the potential growth of Bitcoin is the macroeconomic situation and the policies of the Central Banks. Last week, the ECB raised its key rate by 75 basis points, with an increase forecast of 0.5%. This decision indicates the absence of significant changes in the monetary policy of the Central Bank. A similar situation is observed in the US, where markets estimate a 70% chance of raising the key rate by 75 basis points. This week, the inflation report for August will also be released, which is able to give a positive impetus to the crypto market. An easing of monetary policy is also likely closer to November, when the elections to the US Congress begin. This gives hope for the recovery movement of Bitcoin within wide ranges. However, there are alarming factors that indicate the likelihood of a protracted inflationary crisis. Goldman Sachs experts are confident that in 2023 the inflation rate in the United States will reach 22%. And there is no doubt that this will cause a corresponding reaction from the Fed and the maintenance of a tight monetary policy. Under such conditions, it is not necessary to hope for a serious rally in the price of Bitcoin. In the more foreseeable future, in addition to fundamental factors, serious pressure from miners remains. Miners have sold over 4,600 BTC over the past few days, according to CryptoQuant data. Mining companies will remain an important factor that puts pressure on the price both when it grows (to take profits) and when the price falls to lows. Despite the fundamental difficulties, Bitcoin has a good chance of realizing some bullish runs. The main reason for optimism was the formation of the largest green candle since May 30th. The formation of such a pattern indicates the gradual activation of buyers and the growth of bullish sentiment. Given the presence of a news and buying corridor for growth, Bitcoin may try to reach a local high at $25k. The successful consolidation of the cryptocurrency above $22k can become a springboard for further upward movement, in case of a positive response from US investors. As of writing, we see signs of the upside potential of Bitcoin drying up on the daily chart. The size of green candles gradually began to decrease, and the appearance of wicks indicates the activation of sellers. The price faced serious resistance near the $22.1k level. Technical indicators confirm the presence of a serious seller holding the $22.1k resistance zone. The RSI index continues to move upward, but the characteristic breakdown on the chart indicates the presence of serious bearish volumes. Stochastic has entered the oversold zone and is moving sideways. The probability of a reversal through the formation of a bearish crossover increases significantly. At the same time, MACD resumed its upward movement and is approaching the zero mark and the green zone. This may indicate the formation of a fundamental upward movement of the cryptocurrency. We see a similar movement on the chart of the S&P 500 stock index. The correlation of Bitcoin with the stock market remains, which adds fuel to the asset for growth. It is important to note that nothing has changed fundamentally. Bitcoin and the fund are rising while the US dollar index corrects. The break in the inverse correlation between BTC and DXY will be the main signal for a change in the fundamental situation. Given the temporary correction of the dollar index, we can count on the continuation of the upward movement of BTC/USD with a potential of up to $25k. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade     Relevance up to 10:00 2022-09-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321413
Bitcoin Has A Sign Of The Sideways Regime

Can Bitcoin Make Another A Slightly Higher Highs?

InstaForex Analysis InstaForex Analysis 12.09.2022 15:15
Black lines- FIbonacci retracement Bitcoin continues its upward bounce that started last week at $18,550. Bitcoin has so far retraced more than 50% of the decline from $25,200. The important Fibonacci resistance level is at the 61.8% retracement at $22,680. Bulls need to recapture this level in order to hope for a bigger reversal higher. Bitcoin is approaching the key Fibonacci resistance. The RSI has reached overbought levels and justifies a pause in this upward movement. Most probable scenario is for Bitcoin to pause the rise here or make a slightly higher highs, and then turn downwards to retest recent lows. We continue to believe that this is only a counter trend bounce. Read more: https://www.instaforex.eu/forex_analysis/292400   Relevance up to 15:00 2022-09-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292400
The EUR/USD Pair Is Showing A Potential For Bearish Drop

JPY (Japanese Yen) Is Going Down Lacking Actual Support From Governors. Bitcoin Price Leave Investors With Mixed Feelings

Craig Erlam Craig Erlam 12.09.2022 15:19
European stocks are off to a positive start on Monday, following a relatively muted day in Asia amid bank holiday closures in China, Hong Kong and South Korea. UK growth continues to struggle The UK economy grew slightly less than expected in July, with growth supported by consumer-facing services on the back of the Women’s EUROs and the Commonwealth Games. With the additional bank holiday this month, the economy could be facing a small technical recession, albeit one that won’t be nearly as bad as was expected prior to the cap on energy bills. There’s a lot more data to come this week which should show consumer spending slipping as inflation remains above 10% and the labour market still strong. Yen slips once more The Japanese yen is slipping again at the start of the week despite continuous warnings from officials about the movements in the currency. While they continue to stress the urgency with which they view the unjustified moves, they’ve so far shown themselves to be all talk and no action so the warnings are increasingly falling on deaf ears. US inflation data eyed on Tuesday There’ll be a heavy focus on the US this week as traders await CPI data on Tuesday. The release comes following another flurry of hawkish Fed speak. It seems policymakers were keen to reinforce their hawkish position ahead of the blackout period – which we’re now in – potentially with an eye on that data point. They’ll have no opportunity to react to the release ahead of the meeting and there was perhaps a feeling that a softer reading could see market expectations slip which they clearly want to avoid. It will be interesting to see how traders now respond as we’ve seen how keen they are to hop aboard the “dovish pivot” train before. Bitcoin enjoying a strong rebound The recovery in bitcoin since the end of last week has been very strong, with the rally topping 4% again today. Whether it’s the expectation of a dovish shift, a weaker dollar or just an improvement in broader risk appetite, something is giving cryptos a big boost and that’s helped bitcoin hit its highest level since it went into freefall on 19 August. Things may be looking up in the short term, although once more, that may well depend on the inflation data. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Risk rebound continues - MarketPulseMarketPulse
Crypto Market Analysis By Geco.one - 12/09/22

Crypto Market Analysis By Geco.one - 12/09/22

Geco One Geco One 12.09.2022 16:23
Bitcoin (BTC) As per last week's projection, Bitcoin has plunged to the $ 19,000 region. It was in the vicinity of this support that the demand reaction appeared; as a result, the BTC quotations increased by more than USD 3,800, i.e. nearly 21%, over the past few days. This surge caused the BTC rate to break above the local resistance of $ 20,650 and is now approaching another resistance of around $ 22,500. If this barrier was also broken, then Bitcoin could continue its upward rally towards the previously defeated upward trend line, which is the lower limit of the parallel growth channel observed from mid-June to mid-August, or further up to USD 24,500. If the currently tested resistance was rejected, the BTC could at least return to the area of ​​the last defeated resistance (now support) of $ 20,650. Considering the multitude of important events in the near future, it seems that it will depend on whether the currently tested resistance will be defeated or rejected. The first of these will be the publication of a report on consumer inflation (CPI) in the United States scheduled for next Tuesday, September 13, 2022. Economists estimate that after dropping to 8.5% in July from 9.1% in June, the dynamics of consumer price growth slowed down in August to 8.1%. So it can be expected that any reading higher than expected will speak in favour of the third consecutive 75bp rate hike in the federal funds rate, which would threaten another BTC decline. Following this line of thinking, any reading below the expected level may induce the Federal Reserve (Fed) to reduce the scale of the interest rate hike to 50 basis points, which in turn would signal the approaching of the Fed's monetary tightening cycle that has been ongoing since March this year and could constitute a kind of support for further Bitcoin growth. It is worth recalling that although the US inflation report will be presented on September 13, we will have to wait until September 21 for the Fed's monetary decisions. Ethereum (ETH) Looking at the Ethereum quotes, we notice that the price of this cryptocurrency has increased by almost 26% since August 29, thus reaching the region of USD 1780. A permanent breach of this level could open the door for further appreciation towards USD 2,000, but only a break above USD 2,000 could signal a potential for larger gains. One of the key events for ETH (apart from the publication of the CPI inflation report in the US) this week will be Merge, i.e. Ethereum's transition from proof-of-work to proof-of-stake consensus, thanks to which miners will be replaced with validators, the new ETH supply and the amount of energy needed to maintain the grid. Although the transition from PoW to PoS can be described as a kind of technological revolution for ETH, the most important thing for changing the course will be the reduction of new supply, not the technological aspect itself. A smaller supply with unchanged demand could contribute to an increase in the ETH exchange rate. The question, however, is whether Ethereum will be able to break away from Bitcoin, with which this cryptocurrency is highly positively correlated. If not, the possible increase in the ETH rate could turn out to be only temporary, after which the market could again succumb to pressure from macroeconomic events, particularly the Federal Reserve’s monetary policy. Therefore, there is still a risk that the ETH exchange rate will drop further to USD 1,400 or even to USD 1,250. Therefore, there is still a risk that the ETH exchange rate will drop further to USD 1,400 or even to USD 1,250. Bitcoin Cash (BCH) Since mid-August this year, Bitcoin Cash has remained in the horizontal trend between $ 112 support and $ 133.50 resistance. The increase observed last week brought the BCH price back to the upper limit of this system. Any defeat of this resistance could therefore drive a further increase towards USD 145. However, considering consolidations are usually corrective formations, it seems highly probable that before a permanent return to the path of growth, the BCH exchange rate will slump to around $ 112 or even $ 97. Litecoin (LTC) Litecoin's prices have risen by more than 22% recently, returning to the area of ​​a highly significant resistance of $ 65. If this barrier were to be broken, the LTC could continue to rally north towards the $ 73 and downward trend line. However, a possible breakdown or rejection of the currently tested resistance will probably depend on tomorrow's US CPI inflation reading. Reading the index above 8.1% could rebound the LTC rate from the currently tested level and return to 52 USD. Polygon (MATIC) The price of the cryptocurrency Polygon fell by more than 28% between August 14 and 20 this year, slipping below the upward trend line. This sale will stop; it was low in the area of ​​technical support in the region of USD 0.75, where there was a demand response. The increase observed later made the MATIC price increase by over 22%. However, considering the small dynamics of this rebound, it seems highly probable that the market will return to the downward path shortly, slipping towards USD 0.75, USD 0.61, USD 0.45, or even USD 0.32. XRP Looking at the XRP quotations, we will notice that the price of this cryptocurrency has remained within a parallel growth channel since mid-June this year. After rebounding from the upper limit of this system at the end of July this year, the XRP rate stuck in a horizontal trend just below the local resistance of USD 0.39. The supply pressure observed on August 18 and 19 contributed to breaking the bottom out of this system. Moments later, the upward trend line was also broken, which was the lower boundary of the entire growth channel. The sell-off then stopped around $ 0.3340 technical support, where there was a slight demand response on August 20 this year. However, the subsequent rebound only contributed to a re-test of the upward trend line and the previously defeated support (now resistance) of $ 0.36, which was the lower limit of the earlier consolidation. In reaction to the hawkish speech of the Fed chairman two weeks ago, the XRP rate rebounded from this resistance and fell below the support of USD 0.3340. The sell-off only stopped around $ 0.32, and for the next few days, the XRP remained within a relatively narrow range between the support of $ 0.32 and the resistance in the region of $ 0.3340. The increases observed last week contributed to the breakout of the upper boundary, resulting in the XRP rate returning to the technical resistance area of USD 0.36 and the upward trend line being the lower boundary of the earlier channel. If this barrier is dropped, we could expect a decline toward USD 0.3340 in the near future.
The Bitcoin Price Movement Is In The Bullish Channel

Crypto: Not Only Is Bitcoin Ahead Of US Inflation Print, But Also Implementation Of The Ethereum's Merge

FXStreet News FXStreet News 12.09.2022 21:32
Bitcoin traders play waiting game ahead of CPI data and the Merge Bitcoin briefly hit the $22,000 level before retreating to the $21,700 level in the recent correction. Bloomberg analysts believe traders are awaiting US inflation data and a successful completion of the Ethereum Merge, before making a move. Analysts predict a comeback in Bitcoin price, identified a bullish engulfing candle in the BTC price chart. Bitcoin price witnessed a slow recovery from its slump as investors waited for the release of CPI data. Analysts believe Bitcoin price could witness a reversal of its downtrend once there is a successful completion of the Merge. Bitcoin price rally cools off ahead of CPI data Bitcoin’s price scaled $22,000 briefly before retracing the $21,700 level. Analysts at Bloomberg believe Bitcon’s price trend can be explained by the anticipation surrounding the release of CPI data and the upcoming Merge. Ethereum’s Merge and the transition to proof-of-stake is a milestone event in the crypto ecosystem. The community is likely to witness a change in the way Ethereum is created and a massive scale up in the ETH blockchain’s adoption. A hard fork is likely, according to Proof-of-Work supporters, this could result in an airdrop of PoW tokens for PoS holders. The Merge and resulting consequences could therefore shift trader’s perspective in the crypto ecosystem. The release of CPI data and the Merge could therefore influence Bitcoin’s price. Inflation figures and the upgrade in the Ethereum ecosystem could result in volatility in Bitcoin price trend. Higher than expected US inflation could harden traders’ expectations and result in a decline in Bitcoin price. Similarly, any roadblock or challenge faced by the Ethereum blockchain could hurt trader sentiment and result in decrease in capital inflow to the crypto ecosystem. Analysts identifies bullish signal in BTC price chart Phoenix Ashes, a pseudonymous crypto analyst evaluated the Bitcoin price chart and noted that there is no bullish divergence in sight. The analyst commented on Bitcoin’s price chart in a recent tweet: BraveNewCoin liquid index for Bitcoin RektProof, a crypto trader argues that Bitcoin price could retrace lower, to the $18,600 level before its rally. The analyst has therefore identified two key areas of interest to open shorts. The $20,000 level and the $26,000 level are the two key points on Bitcoin’s price trend where the analyst expects a correction, therefore an opportunity for a short. Bitcoin Perpetual Futures  
In The Coming Days Will Be The Final Consolidation Of Bitcoin

NFT With Queen Elizabeth II Profile And Bitcoin Still In A Downtrend

InstaForex Analysis InstaForex Analysis 13.09.2022 08:57
Crypto Industry News: After the death of Queen Elizabeth II, not only did a lot of news appear in virtually all media. It took several dozen minutes to create the first memecoins and NFTs, which tried to earn on the event that attracted the attention of the world. Shortly after the official announcement of the queen's death, many new NFTs on a similar topic appeared on the OpenSea platform, and new cryptocurrencies hit the exchanges. Regarding the NFT, there are a lot of "stamps" featuring the queen's profile, photos and pixel art - also those with "laser" red eyes. In turn, decentralized exchanges flooded with memecoins with names such as Queen Elizabeth Inu, Save the Queen, QueenDoge, London Bridge is Down, or simply RIP Queen Elizabeth. For some, this type of activity will be distasteful, while for others it is a great way to earn money. Technical Market Outlook: The BTC/USD pair has been seen consolidating around the level of $22,400, close to the lower channel line. The last local high was made at $22,474, so the next target for bulls is seen at $23,513. The bulls are back inside the channel despite the extremely overbought market conditions on the H4 time frame chart. A pull back towards the technical support located at $20,580 is welcome and might occure ant time now. The main trend remains down and the next target for bears is located at $17,600. Weekly Pivot Points: WR3 - $23,418 WR2 - $22,624 WR1 - $22,146 Weekly Pivot - $21,821 WS1 - $21,352 WS2 - $21,035 WS3 - $20,241 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292496
Popular crypto bridges and the ways they work - Avalanche Bridge, Polygon Bridge and more

Crypto Market News: Bitcoin Gained Almost 3%, Cryptocurrency Fear And Greed Index Hits 34!

Alex Kuptsikevich Alex Kuptsikevich 13.09.2022 09:20
Market picture Bitcoin rose 2.6% to $22,300 in the past 24 hours amid rising stock indices and a weaker US dollar. Ethereum lags the market, losing 0.7% to $1715. Top altcoins performance ranged from -1.5% (Cardano) to +10% (Solana). Total crypto market capitalisation, according to CoinMarketCap, rose 1% overnight to $1.06 trillion. The cryptocurrency Fear & Greed Index added 9 points to 34 by Tuesday, the highest since mid-August. BTC is just a hair above its 50-day average, which should hardly be considered an encouraging bullish sign. The following intermediate stage of recovery that could revive the market is the 200-week average at $23.2K. The latter dynamic suggests cautious market players, who are likely to shift their attention to global macro issues. The most critical of these today is the US inflation report, which could return optimism to the markets if price growth slows and sell-offs otherwise. TradingView shows a correlation between bitcoin and the S&P 500 index started to strengthen again last week. Read next: Ethereum Is Down, The CBDC Infrastructure In Norway Is Based On Ethereum Technology| FXMAG.COM Solana posted the highest daily gain among top coins. Despite the overall market decline, the number of NFTs issued on the Solana blockchain rose sharply, reaching 312K. The trading volumes of collectable assets on the network have also jumped. News background According to CoinShares, crypto funds saw a $63 million outflow last week, the highest in 12 weeks. Ethereum funds lost $62M, bitcoin funds - $13M, and short-BTC funds got an $11M inflow. These dynamics starkly contrast to the price behaviour and overall market capitalisation, showing that the institutions are not setting the prices here at all. The bitcoin network's hash rate has renewed its all-time high of 281.79 million TerraHash, shifting the projected date of the next halving from May 2024 to Q4 2023. According to a Harris Poll survey, 70% of cryptocurrency investors are hoping to become billionaires, which is significantly above the number among traditional investors. On September 19, due to increased regulatory pressure, Huobi will delist seven anonymous cryptocurrencies, including Dash (DSH), Monero (XMR) and Zcash (ZEC).
Bitcoin Has Strong Sign That Buyers Are In Control

Bitcoin Is Slowing Down Movement To Upward

InstaForex Analysis InstaForex Analysis 13.09.2022 10:04
Technical analysis: BTC has been trading sideways today at the price of $22.400 but I see potential for further downside movement due to the channeling mode and slowdown in tempo. Trading recommendation: Due to the slowdown in the upside movement and chnaneling mode, I see potential for further downside movement. Watch for the selling opportunities in case of the downside breakout of the channel. Stochatic oscillator is showing fresh bear cross and bear divergence, which can be good sign for the further downside movement. Key resistance is set at the price of $22.600   Relevance up to 09:00 2022-09-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292514
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

Bitcoin Will Continue Its Upward Movement But Growth May Slow Down

InstaForex Analysis InstaForex Analysis 13.09.2022 13:15
Bitcoin continues its upward movement and confidently consolidates above the $22k level. The cryptocurrency is slowly moving towards the next resistance area, which runs at $22.5k–$23.1k. At the same time, the ultimate target of the bullish movement can be called another retest of the upper boundary of the $18k–$25 wide range. Bitcoin technical indicators show local weakness caused by the $22.6k resistance zone piercing, which triggered an increase in sellers' volumes. As a result, the RSI reached 60 and turned sideways. The stochastic oscillator has been in the overbought zone for the second day. The metric formed a bearish crossover and began to decline. These technical metrics indicate a local decrease in buying activity. At the same time, the MACD remains bullish and maintains an upward movement towards the zero mark and the green zone. This is an important bullish signal indicating the presence of a medium-term upward movement. Given this, the local weakness of BTC can be interpreted as a healing correction. Most likely, with the opening of the American markets, the price will resume growth. Alternative scenario for the development of events Another scenario of the development of events, which is tied to fundamental factors, is also quite probable. Today, September 13, the statistics of the consumer price index for August will be published. In July, the figure fell to 8.5%, but the CPI forecast for August is 8.1%. On the one hand, I want to be sure that the publication of financial statements will not affect the price of BTC in any way, given that the market is preparing to raise the key rate by 75 basis points. The "smart money" of the crypto market is already ready for a further fall in inflation, and the expected outcome of the event is embedded in the price of Bitcoin. This means that the reaction of the market to the continued pace of falling inflation will be insignificant. Despite this, we can expect a local pullback of the price to the range of $20.5k–$21.1k. This may be due to the fixation of short-term positions by investors who bet on a further fall in inflation. The ultimate target of the current upward movement of Bitcoin can be considered the $24k–$25k range. Subsequently, the price will again begin to decline due to the pressure of miners and macro trends. It is likely that this will be the last drop in the formation of the "triple bottom" pattern, which will subsequently lead to a significant upward movement of BTC/USD to the $27k–$28k area. Will Bitcoin continue to be bullish? As of September 13, the further upward movement of Bitcoin is not in doubt for the following factors: correction of the DXY index, which has an inverse correlation with Bitcoin; the upward movement of the S&P 500, which has a direct correlation with Bitcoin; adaptation of the market to the publication of CPI reports and low volatility in the market. Given these factors, Bitcoin will continue its upward movement towards the upper $24k–$25k swing area within the current wide range of $17.7k–$25k. The pace of growth may slow down in the next few days due to the activation of bears near the $22.6k level, as well as a potential pullback on news of rising inflation. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 10:00 2022-09-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321541
Central Banks' Rates Outlook: Fed Treads Cautiously, ECB Prepares for Hike

The EU And The UK Want To Tackle Soaring Energy Prices, Bank Of England Has To Digest UK Jobs Market Data, Bitcoin's Decent Performance Ahead Of The US Inflation Data

Craig Erlam Craig Erlam 13.09.2022 15:37
We aren’t seeing much change in Europe ahead of the open on Tuesday after a broadly positive session in Asia as China, Hong Kong and South Korea returned following the bank holiday weekend. The last few days have seen a notable improvement in market sentiment. It’s not always easy to pinpoint what’s driving such a turnaround but the fact that it’s happening in the days leading up to the US inflation report is certainly interesting. Perhaps last month’s report has given investors confidence that another faster deceleration could be on the cards for August. That may sound premature but the fact is that two consecutive reports showing a sharp deceleration combined with last month’s goldilocks jobs report will be a really encouraging sign and could trigger a broader risk rebound in the markets. It may not be enough to tip the Fed balance in favour of a more modest 50 basis point rate hike next week but it may slow the pace of tightening thereafter. The Ukrainian counteroffensive in previously Russian-controlled territories in the east and the south, most notably in Kharkiv, may also be lifting sentiment. Pressure will mount on the Kremlin and while there’s no saying what its response will be, there’s certainly more hope that momentum is moving back in favour of Ukraine. Meanwhile, Europe is putting together plans to cope with higher energy prices this winter with the UK joining others in setting a cap on energy bills. While that won’t solve the problem of supplies or generate as much demand destruction, it will protect many households and businesses that otherwise wouldn’t have been able to cope this winter and could save the UK from recession. If not, it will no doubt make it much less severe. Not what the BoE wanted to see It’s not often that you see the unemployment rate fall to the lowest in almost 50 years and aren’t overjoyed, but that will certainly be the feeling at the Bank of England right now. The decline in the rate was driven by a decline in the labour force, while employment rose by only 40,000; far less than expected. What’s more, wage growth accelerated faster than expected, hitting 5.5% including bonuses in the three months to July compared with the same period last year. Less labour market slack and faster wage growth increase the odds of a 75 basis point hike from the MPC next week, especially against the backdrop of higher core inflation expectations over the medium term as a result of the new cap on energy bills. Can it build on the recovery? Bitcoin is holding onto gains ahead of the inflation data. The recovery has been very strong until this point but it may need a favourable report in order to hold onto them. A positive inflation number could see bitcoin add to recent gains with the next major test to the upside falling around $25,500. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Nerves ahead of US inflation - MarketPulseMarketPulse
Bitcoin Maintains A Steady Bullish Potential

Canada And The Protests, Cryptocurrencies Do Not Protect From Inflation

InstaForex Analysis InstaForex Analysis 14.09.2022 10:04
Crypto Industry News: In a Twitter post, Canadian Prime Minister Justin Trudeau made critical comments about the pro-crypto-platform for newly elected opposition leader Pierre Pollievere, writing: "We will also pay attention to questionable, reckless economic ideas. Telling people that they can get around inflation by investing in cryptocurrencies is not responsible leadership," he writes. In a separate televised speech, Trudeau reiterated these remarks, adding that "responsible leaders" should not encourage individuals to "invest their life savings in volatile cryptocurrencies." On September 10, Calgary-born politician Pierre Pollievere won 68.15% of the vote in the election for the next leader of the Conservative Party of Canada, the official opposition to the current Liberal Party of Justin Trudeau. Pollievere is a cryptocurrency advocate committed to transforming Canada into the "Blockchain Capital of the World", citing the positive outlook for job creation in the Web 3.0 sector and lower cost of accessing financial products as reasons to support this intention. In previous interviews, Pollievere argued that the government was "ruining the Canadian dollar" and that Canadians should consider other forms of money, such as crypto. Earlier this year, Canada declared a state of emergency after a convoy of truck drivers, dubbed the "Freedom Convoy," blocked downtown in the nation's capital, Ottawa. The group has advocated ending all coronavirus-related blocking measures and ending vaccine mandates. In response, the Trudeau government invoked the Crisis Act authorizing banks to freeze funds related to protesters' activities. Then an Ontario judge ordered the freezing of millions of Bitcoin donations to the group's wallet address. The RCMP, the Canadian federal police, also demanded that cryptocurrency exchanges freeze the wallets owned by protesters. In July 2022, inflation in Canada was 7.6%, the highest level in 40 years. Meanwhile, cryptocurrencies have not held up as a 'hedge against inflation' this year, and the overall market capitalization of digital assets has dropped more than 60% since January. Technical Market Outlook: The BTC/USD pair had made the local high at the level of $22,474 and then the market was smashed down after the inflation readings from the US beat the expectations. The Bearish Engulfing candlestick pattern was made at the H4 time frame chart and the bears broken below the $20k for a while. Currently, the market is consolidating around the level of $20,300, but the negative momentum supports the short-term bearish outlook towards the level of $18,640 again. Weekly Pivot Points: WR3 - $23,418 WR2 - $22,624 WR1 - $22,146 Weekly Pivot - $21,821 WS1 - $21,352 WS2 - $21,035 WS3 - $20,241 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-15 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292683
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Analytical Look At Bitcoin, A Cryptocurrency With Bearish Potential

InstaForex Analysis InstaForex Analysis 14.09.2022 09:48
Technical analysis: BTC has been trading downside as I expected. The price reached first objective at the price of $21.235 but I see potential for further downside movement towards next reference points. Trading recommendation: BTC is trading flat this morning but I found potential bear flag pattern, which can be very good sign for further downside movement. Watch for the selling opportunities with the downside objectives at the price of $19.590 and $18.500. Stochatic oscillator is showing fresh downside cross from the overbought zone, which can be good sign for the further downside continuation. Key resistance is set at the price of $22.600 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 08:00 2022-09-15 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292677
Bitcoin Is Showing The Potential For The Further Downside Rotation

Predictions Of Bitcoin's Decline Become True

InstaForex Analysis InstaForex Analysis 14.09.2022 09:35
Yesterday, we suggested that bitcoin was about to fall. It turned out to be true, and the digital asset went down already in the middle of the day. Of course, a $2,200 plunge is not significant for the flagship cryptocurrency. The coin is still moving in a sideways channel between $18,500 and $24,350. Therefore, it is too early to say that the trend has resumed. Moreover, jitters were felt across markets yesterday, and they posted significant losses. Nevertheless, bitcoin is still moving below the descending trendline towards the lower limit of the sideways channel. Thus, we may assume that the price will test this mark, rebound four times, and break through it. If our assumptions are accurate, the downtrend will resume, and bitcoin will nosedive to $12,426. Yesterday, all eyes were on the US inflation report, which is now as important as the Federal Reserve's meeting. This is because all the regulator's further decisions on interest rates will be based on inflation results. The figures that came yesterday can be called neither disturbing nor shocking. If inflation accelerated, that would be shocking, whereas if it plunged by over 1%, this would cause turbulence in the market. However, annual inflation actually decreased by 0.2% in August, beating market expectations of a 0.2% rise. That is, nothing extraordinary happened. Still, demand for the dollar mounted yesterday, while risk appetite declined. It is clear why markets rushed to buy out the greenback: the pace of a slowdown in inflation decreased. Therefore, the hawkish Federal Reserve is likely to raise interest rates by 75 basis points at a meeting next week. It is commonly known that bitcoin, the stock market, and risk assets are usually bearish when the US central bank makes hawkish decisions on interest rates. In other words, markets started to price in the future rate decision yesterday. In this light, BTC could extend its fall, and a lot will now depend on the barriers of $18,500 and $17582. In the 24-hour time frame, the quote failed to break through $24,350 and $18,500 (Fibonacci retracement of 127.2%). Generally speaking, bitcoin is likely to trade in the sideways channel, and it remains to be seen for how long. Therefore, it would be wiser to wait for the price to leave the channel and then trade BTC. Should a breakout through $18,500 occur, the quote will head towards $12,426. Signals indicating a rebound from the trendline or upper/lower limit of the channel can be used as well. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade     Relevance up to 06:00 2022-09-15 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321626
ByBit talks Grayscale Bitcoin Trust. How Does GBTC work?

Bitcoin Price Simply Plunged! | The Merge Is Almost Here! | Check What Nobel Prize Winner Thinks Of The Leading Crypto!

Alex Kuptsikevich Alex Kuptsikevich 14.09.2022 09:17
Market picture Bitcoin collapsed 9.6% on Tuesday, ending the day near $20.2K, which remains on Wednesday morning. Ether is losing 6.4% overnight to $1610. The most significant altcoins took a heavy hit, losing between 4.6% (BNB) and 13% (Solana), but remain on the plus side after seven days. The bears in Bitcoin have asserted that they are in control. From the 50-day moving average level, BTCUSD experienced a substantial decline. This could bring back downward sentiment, as it did in August, for an extended period. However, it is too early to speculate on whether the June lows will be renewed. Pressure on all risky assets came after a hot US inflation report, which increased the likelihood of a more robust Fed rate hike next week and triggered the strongest sell-off in more than two years. News background Eugene Fama, 2013 Nobel Prize laureate in Economics, believes that bitcoin will have value as a means of payment. However, BTC's high volatility prevents it from being used for that purpose. We should add that this refers not only to the downside but also to upside moves. Ethereum has a much higher near-term growth potential than bitcoin, according to ConsenSys. ETH could become a savings vehicle following The Merge event, set to take place on September 15. Digital asset management platform Abra is launching Abra Bank, the first regulated crypto bank in the US, providing traditional services for cryptocurrencies. According to media reports, investment giant Fidelity Investments, which serves 34 million clients, plans to provide retail clients access to bitcoin trading on its brokerage platform.
Bitcoin traders play waiting game ahead of CPI data and the Merge

Bitcoin traders play waiting game ahead of CPI data and the Merge

FXStreet News FXStreet News 13.09.2022 02:28
Bitcoin briefly hit the $22,000 level before retreating to the $21,700 level in the recent correction. Bloomberg analysts believe traders are awaiting US inflation data and a successful completion of the Ethereum Merge, before making a move. Analysts predict a comeback in Bitcoin price, identified a bullish engulfing candle in the BTC price chart. Bitcoin price witnessed a slow recovery from its slump as investors waited for the release of CPI data. Analysts believe Bitcoin price could witness a reversal of its downtrend once there is a successful completion of the Merge. Bitcoin price rally cools off ahead of CPI data Bitcoin’s price scaled $22,000 briefly before retracing the $21,700 level. Analysts at Bloomberg believe Bitcon’s price trend can be explained by the anticipation surrounding the release of CPI data and the upcoming Merge. Ethereum’s Merge and the transition to proof-of-stake is a milestone event in the crypto ecosystem. The community is likely to witness a change in the way Ethereum is created and a massive scale up in the ETH blockchain’s adoption. A hard fork is likely, according to Proof-of-Work supporters, this could result in an airdrop of PoW tokens for PoS holders. The Merge and resulting consequences could therefore shift trader’s perspective in the crypto ecosystem. The release of CPI data and the Merge could therefore influence Bitcoin’s price. Inflation figures and the upgrade in the Ethereum ecosystem could result in volatility in Bitcoin price trend. Higher than expected US inflation could harden traders’ expectations and result in a decline in Bitcoin price. Similarly, any roadblock or challenge faced by the Ethereum blockchain could hurt trader sentiment and result in decrease in capital inflow to the crypto ecosystem. Analysts identifies bullish signal in BTC price chart Phoenix Ashes, a pseudonymous crypto analyst evaluated the Bitcoin price chart and noted that there is no bullish divergence in sight. The analyst commented on Bitcoin’s price chart in a recent tweet: BraveNewCoin liquid index for Bitcoin RektProof, a crypto trader argues that Bitcoin price could retrace lower, to the $18,600 level before its rally. The analyst has therefore identified two key areas of interest to open shorts. The $20,000 level and the $26,000 level are the two key points on Bitcoin’s price trend where the analyst expects a correction, therefore an opportunity for a short. Bitcoin Perpetual Futures
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Litecoin Remained Stable And Bitcoin Continues Downward Trend

InstaForex Analysis InstaForex Analysis 14.09.2022 13:16
Contrary to many expectations, Bitcoin successfully spent the second part of last week. The asset managed to defend the $18.5k–$19k level and resume its upward movement. The formation of the largest green candle in the last three months gave hope for a strong bullish momentum. Along with Bitcoin, stock indices grew, including the S&P 500 and NASDAQ. The US dollar index corrected after reaching another high, which gave high-risk assets time to rise. Analysts at State Street report that institutional investors remain confident in the prospects and value of cryptocurrencies. Their main focus is on Ethereum before the merger, which is why Bitcoin falls out of the investment agenda. According to Santiment, the local undervaluation of BTC provoked a strong rebound to the $22k level. The publication of CPI and the reaction of the crypto market Most factors indicated a high probability of BTC reaching a local high at $25k. The publication of the dynamics of the consumer price index put a bold dot on market expectations. The indicator decreased from 8.5% to 8.3%, with a forecast of a fall to 8.1%. The rate of decline in the inflation rate was below forecasts. The cryptocurrency market and Bitcoin reacted sharply negatively. As of September 14, of the top 30 cryptocurrencies, only Litecoin managed to maintain stability. The capitalization of the industry fell by 6.6% to $900 billion, and Bitcoin lost 9% in a few hours. As of 08:00 UTC, BTC/USD has consolidated near the $20.2k support level. Stock indices also fell, with the S&P 500 down 4.3% overnight, the biggest drop since June 2020. BTC/USD Technical analysis In technical terms, the cryptocurrency has reached a local support zone in the $19.8k–$20.2k area. Following the results of the past 24 hours, Bitcoin has formed a bearish engulfing pattern, which indicates a continuation of the downward trend. Selling volumes continue to grow, but technical metrics signal a local reversal. The RSI and Stochastics bounced off the 35–45 area and are starting to move flat, which indicates consolidation. Bullish scenario Bitcoin needs to hold above the $20k level in order to maintain the opportunity to resume the upward movement. If the round mark is maintained, the price of BTC will rush to the $20.4k–$20.9k resistance area. Successful passage of this segment and consolidation above $21k opens up prospects for movement to $22k before the cryptocurrency. Bitcoin will most likely be in the consolidation stage in the coming days after the negative news. Bearish scenario The shock state of the market will be replaced by awareness of the difficulties of fighting inflation. Most likely, this will lead to a decrease in investment activity in the cryptocurrency market and a reorientation of investors to USD products. In the shorter term, this will be reflected in the price movement towards the key support area of $19.5k–$19.9k. Given the effect of the ETH update, it can be assumed that this zone will be the final one before the reversal. But in case of aggravation of the bearish movement by additional negative factors, the price will meet support at the final level of $18.5k–$19k. Results Summing up the results of the CPI publication, we can say that the situation with liquidity and tightening of monetary policy will not change in the coming months. Powell stated that the Fed's actions would depend on the fact, which turned out to be undervalued alarming. Inflation is falling, but very slowly, and therefore an increase in the key rate by 75 basis points in September is a settled issue. In the coming weeks, the market will prepare for a rate hike, as well as adapt its investment strategy to the deterioration of the financial environment. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 10:00 2022-09-15 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321668
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

An Arrest Warrant For Kwon, Bitcoin Is Still In Downward Trend

InstaForex Analysis InstaForex Analysis 15.09.2022 09:46
Crypto Industry News: While the LUNC community is excited about the potential return to the scene of the Terra Luna Classic (LUNC) token, Terraform Labs founder Do Kwon is now facing an arrest warrant from South Korean authorities. A Seoul court issued an arrest warrant for Kwon and five others who are currently detained in Singapore. According to the prosecution in South Korea, the founder of Terra faces allegations of violating domestic capital markets law In May, what the Terra community originally suspected was supposed to be a FUD attack turned out to be one of the most devastating market crashes in cryptocurrency history, losing millions of assets from TerraUSD (UST) investors - now renamed TerraUSD Classic (USTC) - and Terra (LUNA) ), which was also renamed Luna Classic (LUNC). Stablecoin UST began to move away from the set US dollar, dropping to a record low of $ 0.006 in June. Outside of UST and LUNA, assets that once peaked at $ 119.18 in April plummeted to an all-time low of $ 0.0000009, pinning potential suicide hotlines to the project's Reddit community. On August 17, Kwon hired lawyers from a South Korean-based law firm just days after he said authorities had yet to contact him. Founder Terra also broke his silence on August 16 in an attempt to clear his name of various allegations. However, despite Kwon's efforts, community members continued to criticize CEO Terra, comparing his situation to the creator of Tornado Cash, who was arrested for writing a privacy code. Technical Market Outlook: The BTC/USD pair has been seen slowly moving lower as the recent low was made at the level of $19,623. The Pin Bar candlestick pattern was made at the H4 time frame chart at the lows, so the market is consolidating around the level of $20,120. The levels of $20,472 and $20,580 will now act as the technical resistance for bulls. The weak and negative momentum supports the short-term bearish outlook towards the level of $18,640 again. Weekly Pivot Points: WR3 - $23,418 WR2 - $22,624 WR1 - $22,146 Weekly Pivot - $21,821 WS1 - $21,352 WS2 - $21,035 WS3 - $20,241 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292868
Stocks to keep an eye on in the second half of 2023

Energy Prices Remain Very Volatile, Activities In The Markets

Swissquote Bank Swissquote Bank 15.09.2022 10:31
US equities eked out small gains yesterday as dip buyers timidly came in, but risks remain tilted to the downside with the disappointing inflation figures, and the risk of the largest rail strike in the US since 1992. Crude Oil Prices Released yesterday, the US producer price data didn’t enchant investors. The headline figure fell for the second consecutive month but the core PPI strengthened, hinting that most of the easing in producer inflation was due to cheaper energy prices – which however remain very volatile, and which, more importantly carries a decent upside risk. The barrel of American crude flirted with the $90 mark yesterday, without however being able to clear resistance at this level. Energy companies gained despite news that Europeans are looking to raise $140 billion euros from energy companies to help households and businesses survive through winter. The situation on the stock market The S&P500 recover a part of losses yesterday, as Nasdaq gained 0.84%. But the risks remain clearly tilted to the downside. The US dollar remains relatively strong near the 20-year highs, the EURUSD consolidates below parity as gold slipped back below $1700 per ounce. The USDJPY retreated on expectation that the Bank of Japan (BoJ) could intervene to stop the yen’s depreciation. Ethereum trades around $1600 as Merger Upgrade is now imminent! Watch the full episode to find out more! 0:00 Intro0:24 Dip buyers return to a risky market2:31 US crude flirts with $90pb3:41 US rail strike risk weighs on sentiment4:55 Energy stocks rally despite EU measures to cope with crisis7:07 Gold under pressure7:50 BoJ could intervene to strengthen the yen8:52 Ethereum Merges today! Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #PPI #inflation #rail #strike #USD #EUR #JPY #BoJ #rate #check #Gold #XAU #crude #oil #BP #XOM #Chevron #Coterra #windfall #taxes #energy #crisis #Bitcoin #Ethereum #Merge #update #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Bitcoin Is Keeping A Downward Trend, The Selling Opportunities

InstaForex Analysis InstaForex Analysis 15.09.2022 11:50
Technical analysis: BTC has been trading sideways in last few days at the price of $20.180. I see potential for the further drop. Trading recommendation: Due to the strong downside momentum in the background and triangle pattern in creation, I see potential for further drop. Watch for the selling opportunities in case of the downside breakout of triangle. Downside objectives are set at the price of $19.515 and $18.480. MACD oscillator is showing downside reading, which is good sign that sellers are in control. Key resistance is set at the price of $20.455 Relevance up to 09:00 2022-09-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Read more: https://www.instaforex.eu/forex_analysis/292912
The Bitcoin Fall Will Likely Continue In The Future

The Main Topic Of The Cryptocurrencies Market: Bitcoin vs Ether And The Problem With The Ethereum Merge

InstaForex Analysis InstaForex Analysis 15.09.2022 12:13
ccording to market expectations, the transition of Ethereum from Proof-of-work to Proof-of-stake should take place today. Some say that this may lead to the fact that the second cryptocurrency will begin to take market share from BTC. Famous Bitcoin supporters have criticized the update and urge those who prefer the main cryptocurrency to prepare for war. Michael Saylor Criticizes "Misinformation" About BTC Energy Uses MicroStrategy Executive Chairman Michael Saylor argues that bitcoin mining can become a clean, profitable, and modern industry that generates hard currency for remote places in the developing world. Ahead of Ethereum's transition to proof-of-stake, Saylor spoke out against what he calls "misinformation and propaganda" about the environmental impact surrounding proof-of-work (PoW) BTC mining. On September 14, he shared a lengthy post on his Twitter account detailing his seven "high-level thoughts" on BTC mining and its impact on the environment. One of his key arguments was against PoW BTC mining being energy efficient. Instead, Saylor claims it is "the cleanest industrial use of electricity and is improving its energy efficiency at the fastest rate in any major industry." He backed up his argument with numbers taken from the Global Bitcoin Data Mining Review for the second quarter. The one was published in July by the Bitcoin Mining Council, a group of 45 companies that claim to represent 50.5% of the global network. Saylor emphasized: "Our metrics show ~59.5% of energy for bitcoin mining comes from sustainable sources and energy efficiency improved 46% YoY." An attempt to distract the authorities from the "inconvenient truth" Saylor's argument comes from the fact that the BTC mining industry has come under a lot of pressure due to its perceived environmental impact. This has even led some US states to take steps to ban cryptocurrency mining. Saylor claims that the continuous improvement of the network and the "relentless improvement in the semiconductors" make mining much more energy efficient than big tech companies like Google, Netflix or Facebook. "Approximately $4-5 billion in electricity is used to power & secure a network that is worth $420 billion as of today," Saylor said. "This makes Bitcoin far less energy intensive than Google, Netflix, or Facebook, and 1-2 orders of magnitude less energy intensive than traditional 20th century industries like airlines, logistics, retail, hospitality, and agriculture." Saylor also stated that 99.92% of the world's carbon emissions come from industrial uses of energy other than bitcoin mining. Looking at the numbers, Saylor doesn't think environmentalists' arguments condemning PoW mining are fair. Rather, in his opinion, this is an attempt to "focus negative attention on Proof-of-Work mining" and distract authorities from the "inconvenient truth that Proof-of-Stake crypto assets are generally unregistered securities trading on unregulated exchanges." Saylor concludes by saying that all the negativity about PoW mining is detracting from the potential benefits for the world. "Bitcoin mining can bring a clean, profitable and modern industry that generates hard currency to remote locations in the developing world, connected only via satellite link." Jack Dorsey Questions Ethereum Merge Twitter co-founder Jack Dorsey also chose his side in the Bitcoin vs. Ethereum debate. Dorsey, a well-known supporter of the main cryptocurrency, questions the Ethereum merge. On Twitter, he posted a popular post by another popular Bitcoin maximalist, Scott Sullivan. In the very first line, Sullivan calls Ethereum a shitcoin and asks Bitcoin supporters to prepare for war. Sullivan believes that after the Ethereum merger, a narrative war will begin between Bitcoin and Ethereum. Sullivan believes that bitcoiners should be prepared to fight back in the event of such a war. While Sullivan's post is now a month old, Dorsey's timing is definitely surprising. What is the problem with the Ethereum merge? The Ethereum merge will change the Ethereum consensus mechanism from Proof-of-work to Proof-of-stake. Proof-of-Work, which is the consensus mechanism used by the top cryptocurrency, is considered to be extremely energy intensive. A recent White House report went so far as to consider a total ban on BTC mining. The Proof-of-stake model reduces PoW power consumption by 99%. However, Dorsey and Sullivan have serious questions about this model. Sullivan believes that PoS is based on the principle of disincentives. PoS cuts staked funds from validators in case of dishonest behavior. He also has claims that PoS is a permissionless system without rules that relies on subjective truth. He also believes that in PoS, money is power and the threat of centralization is a real problem. Sullivan and Dorsey point to OFAC's censorship of Tornado Cash as one such example. On the other hand, they believe that a PoW system is the answer that solves PoS problems. Dorsey is at odds with several influential figures because he believes Proof-of-work is the only correct system. Right now, Bitcoin dominance is at its lowest level in a very long time. Ethereum supporters believe that the second cryptocurrency has the potential to bypass Bitcoin after the merge. Dorsey's comments indicate that there is likely to be a major redistribution of power between the two largest cryptocurrencies. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321778
Binance Academy summarise year 2022 featuring The Merge, FTX and more

US Inflation Report And Its Impact On The Cryptocurrency Market

InstaForex Analysis InstaForex Analysis 15.09.2022 13:03
While the whole world is discussing the Ethereum Merge update, it is important to finally deal with the consequences of slowing down the rate of decline in the inflation rate. CPI reporting had a negative impact on the crypto market and caused a reduction in total capitalization to the level of $998 billion. However, this is only an impulsive reaction of investors to bad news. The consequences of this process in the medium term may be more disastrous. Inflation, the position of the Fed and the crypto market In the summer, Fed Chairman Jerome Powell said that the agency was changing its strategy for raising the key rate. The regulator abandoned the predictive indicator planning model and decided to focus on actual data. The Fed also said that it plans to end the current year with a neutral rate. Powell's statements removed the element of surprise, made Fed policy more transparent and gave investors hope. Markets took the theses of the head of the Fed as a transitional moment to the gradual easing of monetary policy. The peak of such sentiments occurred at the beginning of August, when the inflation rate fell above expectations. A glimmer of hope amid the endless fog of the liquidity crisis provoked other positive rumors. One of the initiators of the positive statements was Arthur Hayes, who believes that as we approach the November Senate elections, the markets will pump up the money supply. The slowdown in the rate of decline in the inflation rate put a bold dot on the likelihood of a change or easing of the Fed's current policy. After the publication of the CPI for August, an increase in the key rate by 75 basis points in September is a settled issue. In addition, the current order of movement of the price of Bitcoin and other financial instruments remains. New Rules for Bitcoin Price Movement Insufficient rates of inflation reduction are forcing the Fed to maintain the current level of influence on world markets. The withdrawal of liquidity and the increase in the key rate to strengthen the USD will continue. Considering this index, DXY remains the main financial instrument for the coming months. Bitcoin continues to maintain a close correlation with stock indices. Considering the macroeconomic situation, high-risk assets remain a single category of low-value investments at this stage. It follows that with active trading of BTC/USD, other cryptocurrencies and stock indices, the rule of mandatory DXY analysis remains. With a high degree of probability, when the US dollar index rises, Bitcoin and other cryptocurrencies go down or move flat. The publication of CPI reports caused opposite reactions from BTC and DXY. The inverse correlation of the two assets is obvious and should be a key element of active BTC/USD trading. BTC/USD Technical analysis Bitcoin managed to hold on to the $20.1k–$20.2k support area. The cryptocurrency successfully defended the $19.1k line following the results of yesterday's trading day, and moved to the stage of consolidation. In the coming days, we should expect a stabilization movement in the BTC/USD price without significant impulse movements. Technical metrics confirm this scenario. On the daily chart, the RSI index and the stochastic oscillator made a sharp reversal to the side. The MACD indicator has also completed an upward spurt and started moving in a flat direction. The publication of the CPI had a significant negative impact in both the short and medium term. Given the successful upgrade of Ethereum, we can soon expect a decrease in investment activity and a drop in the level of Bitcoin dominance. The main focus of the market will be on the altcoin, which may cause BTC to be undervalued. Demand and scarcity After a short consolidation, Bitcoin may resume its upward movement due to its growing scarcity in the market. Long-term investors continue to actively buy up BTC coins, reducing their volumes in the public domain. In addition, Bitcoin mining difficulty peaked at 32.045 trillion hashes. This means that mining a BTC block has never been so difficult. Accordingly, in the coming weeks, we can expect a local upward movement of Bitcoin to the $24k–$25k area due to its underestimation and growing scarcity. Medium-term prospects for Bitcoin Despite the rising inflation, the situation will begin to improve closer to winter. Most likely, the reason for this will be a significant reduction in liquidity and the aggravation of recession in the US economy. The combination of these factors will force the Fed to resume filling the markets with money, which will positively affect Bitcoin. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 10:00 2022-09-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321796
In The Coming Days Will Be The Final Consolidation Of Bitcoin

China Treats Litecoin As An Asset And Bitcoin Is Still Banned. BTC/USD Is In Down Trend

InstaForex Analysis InstaForex Analysis 16.09.2022 08:47
Crypto Industry News: Beijing's First People's Court has ruled that interested investors can trade cryptocurrencies. However, they should only be treated as virtual assets and not act as currency. The ruling was made in a case regarding a crypto loan in litecoins (LTC) with a promise of repayment of interest in digital currencies. The specificity of the case indicates that in 2015 Zhai Wenjie loaned 50,000 litecoins to his friend Ding Hao. Zhai Wenjie stated that Ding Hao had promised to pay 1,000 litecoins as interest per month, which was denied by the defendant. The court recognized the existing Chinese ban on cryptocurrency trading and its chairman noted that Litecoin cannot be treated as a currency. This is because digital assets are not issued by a monetary authority and are characterized by a lack of support from the legal and financial framework. "According to the existing regulations and administrative arrangements, our country denies the monetary attributes of the virtual currency and prohibits its circulation as a means of payment. However, the cryptocurrency itself is property protected by law, "the court ruled. Interestingly, Bitcoin is still banned in China. A Chinese court decided to take a separate approach to Litecoin, citing the lack of legislation regarding its perception as an illegal resource. Therefore, the judge ruled in favor of the victim and ordered the accused to return litecoins to him. The ruling in the case reflects a recent decision by a Chaoyang-based court that banned payment of wages in Tether (USDT) precisely because of the prohibition of digital asset trading. It's worth noting that different Chinese county courts have issued different rulings regarding the trading and handling of cryptocurrencies. For example, in May this year, the Shanghai People's High Court ruled that Bitcoin has "some economic value" and is protected by the country's laws. Interestingly, despite existing bans, new data shows that more and more Chinese citizens continue to trade in various assets. The country currently ranks tenth in the world for cryptocurrency adoption. Technical Market Outlook: The BTC/USD pair keeps making the lower lows and lower highs on the H4 time frame chart. The recent low was made at the level of $19,510, but no sell-off was triggered yet. The Pin Bar candlestick pattern was made at the H4 time frame chart at the lows, so the market is consolidating around the level of $20,120. The levels of $20,472 and $20,580 will now act as the technical resistance for bulls. The weak and negative momentum supports the short-term bearish outlook towards the level of $18,640 again. Weekly Pivot Points: WR3 - $23,418 WR2 - $22,624 WR1 - $22,146 Weekly Pivot - $21,821 WS1 - $21,352 WS2 - $21,035 WS3 - $20,241 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-17 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293051
Cryptocurrencies A Better Version Of Payment For Travel

Cryptocurrencies A Better Version Of Payment For Travel

Crypto.com Accelerate the... Crypto.com Accelerate the... 17.09.2022 08:47
It happened seamlessly. On Thursday, The Merge fused Ethereum’s PoS testnets, cutting the chain’s energy consumption by a whopping 99.95%. Ethereum fans joined the online watch party, and even Google celebrated the event with a live countdown on its site. We honour the crypto milestone with an ETH giveaway, and take our hats off to everyone who made The Merge happen. Markets Spotlight Note: Market prices captured in US$ at the time of reading. Explore more on Crypto‌.com/Price. News Snaps Starbucks will offer an NFT-based loyalty program. CoinDesk reports that Starbucks recently announced an NFT loyalty program running on the Polygon network. Customers will be able to purchase collectible stamps in NFT form that offer immersive experiences and other benefits. DBS, the largest bank in Southeast Asia, set to enter the Metaverse. Singapore bank DBS is set to explore the Metaverse. DBS announced a partnership with The Sandbox, and its aim is “to create DBS Better World, an interactive Metaverse experience showcasing the importance of building a better, more sustainable world, and inviting others to come alongside.” Check out Bitcoin.com for more. The Merge just made Ethereum a whole lot greener. With the recent successful merge, Ethereum is now much more energy efficient. Moving from Proof of Work to Proof of Stake has reduced Ethereum’s blockchain energy consumption over 99.95%. Vitalik Buterin tweeted that it would reduce worldwide electricity consumption by 0.2%. Visit CNN for the full story.   GameFi experiences a 135% jump in fundraising for the month of August. The crypto market as a whole may still be facing a downtrend, but interest in Web3 games and Metaverse projects continues strong. Over US$748 million in funds have been raised in the month of August, Cointelegraph reports. NFT collection Doodles raises US$54M. The well-known NFT collection Doodles recently received US$54 million in funding and a US$704 million valuation. Doodles plans to use this investment to focus on monetising its intellectual property globally in order to scale its growth. See CoinDesk for more details. What’s Ahead Keep an eye out for the Vasil hard fork for Cardano that will take place on 22 September. If the upgrade is successful, it will improve Cardano’s scalability and lower the transaction costs on its network. NFT Spotlight From “Making Dollars” in 1988 to perhaps “Mining Dogecoin” today, Erick Sermon of iconic hip-hop group EPMD launched an NFT collection with renowned Canadian-Indigenous artist, record producer, engineer, and longtime collaborator David “Gordo” Strickland. The hip-hop luminaries also donated a portion of the proceeds from the collection to an organisation that supports Indigenous residential school survivors. “Gordo was at the studio doing these abstract hip-hop legends paintings on his down time. […] He was doing paintings of all of us, and Snoop, and Dre, and Redman and so on. […] I let him do his thing and magic happened.” Sermon, on the origins of his collection Read Crypto.com’s full interview with Sermon and Gordo or browse the collection. Product Picks Six More Tokens Added to Recurring Buy ZRX, GNO, GRT, NEO, and more have been added to the growing list of over 70 supported tokens for Recurring Buy. Crypto.com App users can now access the Dollar Cost Averaging (DCA) investment strategy for more tokens and to automate purchases, with as little as US$15.  DeFi Wallet Now Supports Nine Languages  Users can now easily and securely manage 700+ tokens across 20+ blockchains, seamlessly swap tokens, earn token rewards, manage their NFTs, and connect with the most popular dApps in seconds in their preferred language.  US$10,000 Prize Pool for the ETH Merge Trading Competition To celebrate this historic event, we’re giving Crypto.com App and Exchange users an opportunity to earn a share of US$10,000 in ETH. Competition ends 30 September. Join now on the Crypto.com App and Exchange. Crypto Level Up What is a DAO? Decentralised autonomous organisations (DAOs) embrace everything that traditional organisations don’t. Here are the values that define a DAO. Flat. No CEOs. No executive committee. No hierarchy. All DAO-related decisions are made collectively by the stakeholders or members of the DAO. Decentralised. A DAO uses smart contracts, not a third party, for execution. But sometimes, members of a DAO may decide to get outside help to fix issues like bugs or updates. Transparent. A DAO hides no secrets. Anyone is welcome to inspect the public smart contract that manages its operations and the full transaction history on the blockchain. Accessible. From chef to bioscientist and yourself, anyone can join a DAO — as long as they fulfil the predetermined requirements, such as holding its governance token.Democratic. Once the voting is done, and a decision made, no single party can veto it. Learn more about DAOs and how they work Crypto IRL Happiness often comes in pairs. Cheers, @Rutger_B79. We hope you enjoyed the moment with your pal, and the Crypto.com Icy White Visa Card, too, of course! Featured Merchant Juan Otero, CEO of Travala.com, tells us how crypto is changing the game of international travel. What can travellers buy with CRO on your site? Travellers can use CRO to book 2,200,000-plus accommodations, flights with over 600 airlines, and more than 400,000 activities across 230 countries and territories. Every booking also receives a 2% giveback in $AVA, Travala.com’s travel utility token, which can be increased to up to 10% by becoming a Smart member. Poor foreign exchange rates are the bane of international travel — can crypto do away with them? Absolutely — the borderless nature of crypto makes it perfect for international travel. When you book online with foreign travel providers, you’re usually hit with foreign exchange fees in addition to credit card processing fees, which on average, add up to around 3%. By booking travel with crypto, both these fees are avoided. The only fee you pay is the network fee, which in most cases is just a few cents. What’s the swankiest trip someone has paid for in crypto on your site? Our luxury travel division, Concierge.io, has organised some incredible recent experiences for crypto enthusiasts — and when we say experiences, we don’t just mean flights and hotels. We’re the exclusive payment provider for Rare Vibes AVClub when it comes to their events in Miami. Earlier in April, RVAC’s BTC Miami Event was the talk of the town, with musical acts such as Diplo, ATrak, Bassjackers, and several others at MAPS Backlot in Wynwood. Have you paid for a flight or hotel in crypto yet? Where to?Of course! My most recent crypto booking was for flights and accommodation for the upcoming Singapore Grand Prix. My co-founder, Steve, and I will be catching up with the previous Travel Tiger Club giveaway winner in June. Decoder Bagholders are individuals who do not sell their assets, even if the price drops significantly or ends up at zero. There are many possible reasons for an investor to become a bagholder. For one, sometimes investors believe so strongly in a project that they are unaffected by short-term price action.  Another reason is that they missed out on the crash, with the asset price dropping so quickly they didn’t have time to sell it. Finally, some investors become bagholders because they became disinterested in a project and forgot about their investment. Once they do check, they feel there is no point in selling, as it is worth a fraction of their initial investment. This Week in Crypto History Vitalik Buterin in Time magazine’s top 100 most influential people. This time last year, Ethereum co-founder Vitalik Buterin was featured as one of the top 100 most influential people of 2021. Buterin ranked among the likes of Elon Musk, Alexis Ohanian, and Billie Eilish. That’s it for this week’s Snapshot. Want more? Head over to our Insta feed for bite-sized crypto lessons.    
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Disney On NFT Market, Starbucks brewing NFT Customer Loyalty Platform And More

Crypto.com Accelerate the... Crypto.com Accelerate the... 17.09.2022 08:57
Disney is exploring and developing plans for the metaverse. ConsenSys launches free NFTs to commemorate Ethereum’s Merge. Gods Unchained is teaming up with GameStop. Key Takeaways Disney revealed that it is continuing to explore and develop plans for the metaverse. The company has also been active in the NFT space. Collaborating with NFT marketplace VeVe, it launched the “Golden Moments” collection, which includes Spiderman, Mickey Mouse, and more. “Regenesis”, an NFT collection launched by ConsenSys to commemorate Ethereum’s Merge, is available to claim. The NFT is free to mint, and the claim window will be open for 72 hours starting from the day of The Merge. Gods Unchained is teaming up with GameStop to welcome GameStop customers into the card game’s ecosystem. GameStop PowerUp Pro members will receive a unique code that can be used to redeem Gods Unchained expansion packs containing NFT trading cards. X2Y2 recorded a -17% decrease in sales and a -6% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +51% and its transaction count also increased +38%. The total market cap for GameFi tokens now stands at US$8.43 billion, down -6% from last week. Crypto.com NFT in the Spotlight Luca De Massis is dropping his very first PFP collection, “TMK”, on Crypto.com NFT. It includes 3,000 NFTs with over 250 traits and unique moods. TMKs are not only highly intelligent but also very sociable, likeable, and fiercely protective of humans. “7 Paintings of Heaven and The Lost Artwork” is an art collection by MACHADOXLEAO that is inspired by John Bunyan’s 1678 allegory “The Pilgrim’s Progress”.  This drop features utilities for collectors, such as original design files and Zoom calls with the creator. NFT Highlights Reddit’s Ohanian leads $54 million Doodles capital raise Paradigm unveiled variable rate gradual Dutch auctions mechanism for Art Gobblers Y00ts mint t00b Is the 7-day biggest NFT collection, surpassing $7.9M in SOL Cardano’s first NFT lending platform announces $25,000 in bounty ahead of mainnet launch Automobili Lamborghini’s “The Epic Road Trip” announces its September NFT utilities Starbucks brewing NFT customer loyalty platform, so are smaller coffee shop chains LG embraces NFT tech with new ‘LG Art Lab’ smart TV application GameFi Highlights Guild of Guardians teams up with top names in esports to grow Web3 game How GameFi contributes to the growth of crypto and NFTs Gala Games launches Superior alpha playtest Over 40% of GameFi users are using the WAX blockchain Web3 gaming still growing despite economic woes, according to DappRadar report GameFi and NFTs set to be first to recover from downturn as venture funds flow in NFT Transaction Benchmark The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $106,800 Minted VVS Miner Mole $86,800 Magic Eden Y00ts: mint t00bs $2,778,000 OpenSea CryptoPunks $3,476,000 Platform Crypto.com NFT Collection Loaded Lions Sales Volume (USD) $106,800 Sample Platform Minted Collection VVS Miner Mole Sales Volume (USD) $86,800 Sample Platform Magic Eden Collection Y00ts: mint t00bs Sales Volume (USD) $2,778,000 Sample Platform OpenSea Collection CryptoPunks Sales Volume (USD) $3,476,000 Sample GameFi Top Gainers & Losers Top Games Metrics Daily Gamers by Blockchain Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters  Be the first to hear about new insights: Follow us on Twitter Tags crypto research cryptocurrencies GameFi NFT Ready to start your crypto journey? Get your step-by-step guide to setting up an account with Crypto.com By clicking the Get Started button you acknowledge having read the Privacy Notice of Crypto.com where we explain how we use and protect your personal data.   DOWNLOAD APP
Cryptocurrency Market: Wow! Ethereum's The Merge Make The Network Use 99.95% Less Power!

Cryptocurrency Market: Wow! Ethereum's The Merge Make The Network Use 99.95% Less Power!

Alex Kuptsikevich Alex Kuptsikevich 19.09.2022 09:43
Market picture Bitcoin is down 8.8% over the past week, ending near $19,700. The losses continued to pile up on Monday, decreasing the price to $18.5K (-7.77% in 24 hours). Ethereum collapsed 25% to $1300 in exactly one week. Top altcoins fell from 10% (Solana, Dogecoin) to 19% (Polkadot). The exception was XRP (-0.5%). Total crypto market capitalisation, according to CoinMarketCap, was down 14% for the week at $903bn. The cryptocurrency Fear & Greed Index returned to “extreme fear” territory at 21 by Monday. Flee from risks in global markets has pressured Bitcoin over the past week. Ethereum has underperformed, quickly taking back the speculative advantage accumulated before the move to PoS. The local technical picture in BTCUSD looks quite worrying. The pair has fallen to the lows of June, where it spent a few hours during the long squeeze. Bitcoin’s main fall came Tuesday on higher-than-expected US inflation, raising the possibility of a sharper monetary policy tightening at this week’s Fed meeting. The bear market was confirmed by BTCUSD actively selling off after testing the significant moving averages - the 50-day and 200-week moving averages. The latter, which had previously confirmed that the crypto market was growing over the long term, capitulated in June. And in recent months has acted as a selling point from which to intensify, convincing investors that the 10k mark of Bitcoin will be seen sooner than the 30k mark. News background Ethereum’s transition to the new algorithm last week was a success, with the network’s power consumption reduced by 99.95%. However, the hopes of crypto bulls, expecting a rise in quotations, were not fulfilled. Changpeng Zhao, CEO of cryptocurrency exchange Binance, urged traders to be patient. In his view, the move to PoS should not be expected to impact the Ethereum ecosystem immediately. Read more: This Will Be The Highest Rate Level In Five Years| FXMAG.COM US Securities and Exchange Commission (SEC) chief Gary Gensler has warned after The Merge update ETH can be treated as security from a legal perspective. Nassim Taleb, the author of Black Swan, called bitcoin a “tumour” caused by the US Federal Reserve’s loose monetary policy. In his view, 15 years of low-interest rates ruined the economy and created bubbles in the market, like BTC.
The Analysis Of Off-Chain Metrics Allows Cryptocurrency Supporters To Count On A Reversal

Due To The Strong Downside Trend Bitcoin Has A Potential For The Bigger Drop

InstaForex Analysis InstaForex Analysis 19.09.2022 10:02
Technical analysis: BTC/USD has been trading downside as I expected. The price tested our first downside objective at the price of $18.550. I see potential for further drop. Trading recommendation: Due to the strong downside trend in the background and breakout of the support at $18.500, I see potential for the bigger drop. Watch for the potential selling opportunities on the intraday rallies with the downside objective at $17.700. MACD oscillator is showing fresh downside momentum,which is good sign for further downside movement. Key resistance is set at the price of $20.200 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-20 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293199
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

The Cryptocurrency Mining Project Using Solar Energy, Bitcoin Is In The Down Trend

InstaForex Analysis InstaForex Analysis 19.09.2022 14:21
Crypto Industry News: Whyalla's "steel city" in South Australia has become home to a new cryptocurrency mining facility that will run on electricity generated from solar energy. The 5 megawatt facility operated by Lumos Digital Mining will mine Bitcoin, which is often blamed for its energy-intensive nature. Australian national radio ABC notes in the report that as the world tries to cut energy consumption, mining the largest cryptocurrency uses more energy than medium-sized countries like Argentina. Local authorities see the cryptocurrency mining project using solar energy as evidence that generating Bitcoin can be more environmentally friendly. Commenting on the project, Nick Champion, South Australia's Minister of State for Trade and Investments, explained: "This is important for decarbonising the Blockchain, which is a very energy intensive industry. I think this is the start of a new economy in Whyalla," he said. A government official also hopes that in the future, other data centers will mine cryptocurrencies using renewable energy. Technical Market Outlook: The recent low at the BTC/USD was made at the level of $18,239 as the market extends the sell-off. The levels of $18,665 and $18,940 will now act as the technical resistance for bulls. The weak and negative momentum supports the short-term bearish outlook towards the level of $17,600 again, however the market conditions remains extremely oversold, so the pull-back and resistance test is welcome. Weekly Pivot Points: WR3 - $21,295 WR2 - $20,039 WR1 - $19,341 Weekly Pivot - $18,764 WS1 - $18,064 WS2 - $17,526 WS3 - $16,271 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade     Relevance up to 13:00 2022-09-20 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293277
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Bitcoin Continues Its Downward Trend AndIs Backed By Its Own Mining Hardware

InstaForex Analysis InstaForex Analysis 20.09.2022 09:46
Crypto Industry News: MicroStrategy CEO and Bitcoin (BTC) enthusiast Michael Saylor doubled his support for Bitcoin by clarifying issues related to the transfer of physical property values such as gold, company stocks or equity and real estate during the Australian Crypto Convention. Speaking of the evidence-of-work (PoW) consensus mechanism, Saylor emphasized that Bitcoin is backed by its own $ 20 billion mining hardware and $ 20 billion in energy. He then pointed out that traditional assets such as gold (in large quantities) and land are almost impossible to move beyond geographic boundaries, adding: "If you have property in Africa, no one will want to rent it from you if they live in London. But if you have a billion dollars in Bitcoin, you can borrow it or [...] rent it to anyone in the world. " Saylor also highlighted the high cost of living and taxes associated with long-term ownership and inheritance of physical property that do not exist with Bitcoin. Worldwide geopolitical tensions also determine the type of assets that can be transferred across jurisdictions. Technical Market Outlook: The BTC/USD pair had bounced from the recent low made at the level of $18,239, however the market still trades below the level of $20,000. The levels of $18,940 and $19,300 will now act as the technical support and the next technical resistance is seen at the level of $20,178. The weak and negative momentum on the H4 time frame chart still supports the short-term bearish outlook towards the level of $17,600 again. Weekly Pivot Points: WR3 - $21,295 WR2 - $20,039 WR1 - $19,341 Weekly Pivot - $18,764 WS1 - $18,064 WS2 - $17,526 WS3 - $16,271 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293367
Indonesia's Inflation Slips, Central Bank Maintains Rates Amidst Stability

The Major Currency Pairs On The Forex Market And Their Move Ahead Of Important Decisions

TeleTrade Comments TeleTrade Comments 20.09.2022 10:35
Here is what you need to know on Tuesday, September 20: Major currency pair trade in familiar ranges on Tuesday as investors move to the sidelines ahead of key central bank policy decisions. The US Dollar Index (DXY), which closed virtually unchanged on Monday, moves sideways slightly above 109.50 and the market mood improves modestly with US stock index futures rising between 0.2% and 0.3%. Later in the day, Building Permits and Housing Starts data for August will be featured in the US economic docket. Consumer Price Index (CPI) figures from Canada will also be watched closely by market participants. Wall Street Journal author Nick Timiraos, who correctly leaked the 75 basis points (bps) rate hike in July, published an article late Monday and refrained from suggesting that the Fed could raise its policy rate by 100 bps on Wednesday. The greenback lost some interest after this development and the DXY erased its daily gains. The benchmark 10-year US Treasury bond yield stays relatively quiet near 3.5% on Tuesday. Federal Reserve Preview: Forecasting 5% interest rates? Dollar to move on dot-plot, Powell's pledges. Earlier in the day, Sweden's central bank, Riksbank, announced that it raised its policy rate by 100 bps to 1.75%, compared to Reuters' estimate for a rate increase of 75 bps. With the initial reaction, EUR/SEK fell to a fresh daily low of 10.7305 but managed to recover to the 10.8000 area. During the Asian trading hours, the Reserve Bank of Australia's (RBA) September monetary policy meeting minutes showed that policymakers saw a case for a slower pace of rate increases as becoming stronger. AUD/USD's reaction to the RBA's publication was largely muted and the pair was last seen trading flat on the day at around 0.6730. Annual CPI in Canada is expected to decline to 7.4% in August from 7.6% in July. Ahead of this data, the USD/CAD pair trades in a tight range near the mid-1.3200s. EUR/USD managed to stage a rebound in the second half of the day on Monday and closed in positive territory above parity. The pair was last seen posting small daily gains near 1.0030. GBP/USD clings to modest daily gains at around 1.1450 early Tuesday. “There aren’t currently any negotiations taking place with the US and I don’t have any expectation that those are going to start in the short to medium term," British Prime Minister Liz Truss said regarding a potential trade deal with the US but these comments were largely ignored by market participants. The data from Japan revealed on Tuesday that the National CPI climbed to 3% in August from 2.6% in July. Although this print came in stronger than the market expectation of 2.6%, USD/JPY managed to hold its ground and was last seen rising 0.2% on the day at 143.50. Gold is having a tough time attracting buyers and trading in negative territory slightly above $1,670. The resilience of the 10-year US T-bond yield makes it difficult for XAU/USD to gather recovery momentum. Bitcoin shook off the bearish pressure late Monday but it's yet to reclaim $20,000. Ethereum gained nearly 3% on Monday but failed to preserve its bullish momentum early Tuesday. At the time of press, ETH/USD was down 1% on the day at $1,360.
Bitcoin Is Showing The Potential For The Further Downside Rotation

Inflation Also Affects Bitcoin, The Cryptocurrency Situation Is Getting Worse

InstaForex Analysis InstaForex Analysis 20.09.2022 13:07
Bitcoin is once again trading below $20k and is in danger of finally losing buyer support. This threatens to update the local low or form a new market bottom. Fundamental and technical factors indicate a high probability of a bearish scenario. Is the Fed losing control of inflation? The main factor in the fall of Bitcoin's capitalization is inflation in the United States. In August, it seemed that the Fed had worked out a fairly effective mechanism to counter the rise in consumer prices. According to the latest CPI report, the inflation rate fell to 8.3% against the forecast of 8.1%. The disappointing dynamics of the decline in the CPI has become an alarm signal indicating the loss of control of the US Central Bank over inflation. General forecast for BTC/USD In the short term, this means maintaining the Fed's hawkish policy, aggressive liquidity withdrawal, and a key rate hike. After the CPI report, markets had no doubts that the key rate would be increased by at least 75 basis points. It is for this reason that investors are rapidly getting rid of high-risk assets, including Bitcoin. In the medium and short term, the situation is also deteriorating significantly. Powell said in July that the agency plans to leave the rate at a neutral level by the end of 2022. This gave investors hope for the end of the aggressive monetary policy in the near future. The approaching elections to the US Congress in November warmed up the positive markets and allowed us to hope for a weakening of the current policy of the Fed. As of the end of September, markets should lower their hopes for a quick resolution of the situation as inflation falls more slowly than the most modest forecasts. The Fed is in a difficult position as, on the one hand, inflation is becoming unmanageable and, on the other hand, the US economy is entering a phase of a protracted recession. Bitcoin correlation with SPX and DXY The combination of these factors allows us to draw disappointing conclusions for the crypto market and Bitcoin. The key rate will continue to grow, and the liquidity crisis will worsen. This means that BTC will continue to maintain a correlation with stock indices. The US dollar index holds the title of the main financial instrument for the coming months. Therefore, Bitcoin will grow only in the event of a local DXY correction. I would like to dwell in more detail on the situation with the stock market, which directly affects Bitcoin quotes. Analysts say that the price movement of the S&P 500 completely repeats the events of the 2008 global crisis. And considering where the bottom of the index was during the crisis at the end of the 2000s, the SPX expects another and very painful stage of decline. BTC/USD Technical analysis In the short term, there are two options for Bitcoin price movement. Tomorrow, September 21, there will be a meeting of the Fed and a speech by Chairman Jerome Powell, where a key rate increase of 75 bps is expected. Most likely, the market will react calmly, as the current price reduction is a preparation for the disappointing decisions of the Central Bank. However, it is likely that the rate will increase by 100 basis points. In this case, Bitcoin will start to decline and reach the local bottom at $17.7k. Given the general downward direction of the markets, the probability of a new low in the price of BTC is at the highest level in the last month and a half. Unpopular but likely scenario At the same time, there is a possibility of a bullish price rebound above the $20k level. This is hinted at by several important factors, the main of which is the retest of the $18.2k level and the confident defense of the frontier by buyers. The rebound formed a green candlestick with a long lower wick, which may indicate a second or third bottom. In addition, the stochastic oscillator rebounded from the lower border of the bullish zone, which may indicate a local price reversal. Given the general bearish sentiment and the formation of an interesting bullish pattern, we can expect a local rebound in the BTC/USD price after the Fed meeting. However, this probability is estimated at 20%–30%. We should expect that the price will continue to decline or remain flat based on the results of Powell's speech. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 10:00 2022-09-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322144
Technical analysis of the leading cryptocurrency, Bitcoin, by Sebastian Seliga (InstaForex) - 27/10/22

Crypto Market Capitalization Increased By Ca. 3%. Could Bitcoin Price Go Below $10K?

Alex Kuptsikevich Alex Kuptsikevich 20.09.2022 10:32
The crypto market has taken a hiatus from the sell-off Market picture Bitcoin has changed little over the past 24 hours, trading at $19.4K on Tuesday at the start of the day. The initial fall was neatly redeemed during active European and US trading amid a rebound in stock indices. Some investors and traders saw the market response as excessive and sought to buy back the market at its current levels. The capitalization of the entire crypto market rose 2.7% in the last 24 hours to 936bn. Both bitcoin and the crypto market continue to receive support near levels of the previous three months' lows, around the $20K and $900B area, respectively. Despite a pause in the sell-off, the technical balance of power is on the bears' side, with the potential to renew the June lows and move into the $12-14K area. Read next: Japanese Yen (JPY) May Be Weak, But Inflation In Japan Is Still Low And It's Good To Know Why| FXMAG.COM News background According to renowned expert Willie Wu, the cryptocurrency market has not yet bottomed out. According to him, if bitcoin fails to stay in the $19K - $20K range, it faces a collapse to $17.6K. However, BTC may only bottom at around $10K. According to CoinShares, investments in crypto funds rose last week after sharp outflows in the previous week. Net inflows of $7 million compared to outflows of $63 million the week before. $17 million Inflows to bitcoin funds contrasted with $15 million outflows from Ethereum funds. Investments in funds that allow shorts on bitcoin rose by $3 million. "The combination of positive and negative flows suggests a continued lack of investor engagement in cryptocurrencies," CoinShares said. After nearly two years of litigation, the SEC and Ripple Labs called on a federal court to immediately rule on whether XRP sales violate US securities laws.
Cryptocurrency: Bitcoin Price Went Down By 2%, ETH/USD Decreased By 1.7%

Cryptocurrency: Bitcoin Price Went Down By 2%, ETH/USD Decreased By 1.7%

Alex Kuptsikevich Alex Kuptsikevich 21.09.2022 09:42
Market picture Bitcoin fell 2% to $19K in the past 24 hours as the US dollar rose and stock indices resumed their decline. Despite unfavourable market sentiment ahead of Wednesday's Fed rate decision, BTC managed to hold off from updating the previous day's low. Ethereum lost 1.7% to $1335, with prices for the top altcoins ranging from -2.7% (Shiba Inu) to + 7% (XRP), while total capitalisation fell 1.2% to $927bn, according to CoinMarketCap estimates.BTCUSD has been trading near the lower end of the trading range for the last three months. The market's reaction to the Fed's decision later today will determine whether we see a renewal of lows or a retreat from the bottom. The trend of the last month and a half makes a bearish scenario the main one, but still, surprises are not excluded. News background MicroStrategy bought an additional 301 BTC for $6 million at an average price of $19,851 in early August, according to a report filed with the SEC. MicroStrategy's previous investment in the first cryptocurrency was in June when the firm acquired 480 BTC worth around $10m. Famous cryptocurrency expert Willie Wu said that futures on the CME exchange are putting significant pressure on bitcoin, and this is, to a large extent, political pressure. The SEC approves cryptocurrency futures ETFs but prohibits the launch of spot funds. That said, hedge funds can short BTC with leverage. Real Vision founder Raul Pal believes that Solana and Avalanche, cryptocurrencies with their original blockchains, will repeat the dynamics of Ethereum in the previous cycle in the next bullish cycle. The US exchange Nasdaq is launching a cryptocurrency division that will offer customers digital asset custody services and tools to secure crypto companies.
Bitcoin: The Bearish Pressure Is Still High, Giants Enter The Cryptocurrency Market

Bitcoin: The Bearish Pressure Is Still High, Giants Enter The Cryptocurrency Market

InstaForex Analysis InstaForex Analysis 21.09.2022 11:45
Crypto Industry News: The second largest stock exchange in the world focuses on development in the digital asset sector. All this in the hope of taking advantage of the growing interest in space on the institutional market. According to a Bloomberg report, Nasdaq Digital Assets will initially only launch custody services for Bitcoin and Ethereum. Gemini Ira Auerbach will lead the new arm of the company, and the department is expected to grow to 40 people by the end of 2022. Nasdaq has already applied to offer digital asset storage services with the New York Department of Financial Services. The document is currently pending approval. If NYDFS approves the application, Nasdaq will become a serious rival to companies like Coinbase and Anchorage Digital. It will also face competition from BNY Mellon and State Street. These two giants of the traditional financial world have also decided to enter the world of cryptocurrencies. The cryptocurrency industry had a difficult year 2021 - Bitcoin, Ethereum and most other major assets fell by more than 70% from last year's highs. Wall Street, however, is increasingly interested in the market, citing the growing demand from institutional clients for Bitcoin and other cryptocurrencies. Blackrock, the world's largest asset management company, teamed up with Coinbase and launched a Bitcoin Spot trust fund last month to help its wealthy clients gain access to cryptocurrencies. Technical Market Outlook: The BTC/USD pair had bounced from the recent low made at the level of $18,239, however the bounce was very shallow and the market keeps trading around the level of $19,000. The levels of $18,640 and $18,563 will now act as the technical support and the nearest technical resistance is seen at the level of $19,347 and $19,679. The weak and negative momentum on the H4 time frame chart still supports the short-term bearish outlook towards the level of $17,600 again. Weekly Pivot Points: WR3 - $21,295 WR2 - $20,039 WR1 - $19,341 Weekly Pivot - $18,764 WS1 - $18,064 WS2 - $17,526 WS3 - $16,271 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 08:00 2022-09-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293565
Bearish Sentiment Also Dominates The Cryptocurrency Markets

Bearish Sentiment Also Dominates The Cryptocurrency Markets

InstaForex Analysis InstaForex Analysis 21.09.2022 14:03
Bearish sentiments predominate in both crypto and regular markets as investors worldwide await the FOMC meeting and the following interest rate hike by the Federal Reserve. Currently the US central bank is expected to increase the Fed funds rate by 75 basis points. However, some believe that a 100 bps hike could be on the table, as inflation remains a constant issue. Bitcoin was under pressure throughout Tuesday's session. Bearish traders now have a short-term technical advantage as BTC fell below the low of early September. While the situation might seem bleak, it is not hopeless, and Bitcoin could recoup its losses, independent market analysts Michael van de Poppe said. Ethereum continues its attempts to gain momentum after The Merge successfully concluded last week. ETH decreased slightly by 0.25% and hovered at $1,327 at the moment of writing. According to CoinMarketCap, out of the 200 top tokens, the best performing cryptocurrencies over the past day were Helium (HNT), which jumped by 10.48%, Render Token (RNDR), which gained 8.43%, and Syscoin (SYS), which rose by 7.11%. The market capitalization of the crypto market currently stands at $929 billion. The Bitcoin Dominance Index is at 39.3%. Relevance up to 04:00 2022-09-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322264
The Bitcoin Price Movement Is In The Bullish Channel

Crypto: 400 ETH As A Price For A... Hacker? Could Bears Make Bitcoin Price Reach $12K?

Alex Kuptsikevich Alex Kuptsikevich 22.09.2022 10:32
Bitcoin In Some Way Affected By Fed Bitcoin is losing 2% over the past 24 hours, hovering near $18.7K at the time of writing. Attempts at intraday gains have been shattered by the adverse market reaction following the Fed's forecasts and comments. BTCUSD has been declining for eight of the last nine days. Total crypto market capitalisation is down 2% to $900bn for the day. Ethereum remains worse than the market, losing 5.5% in the last 24 hours, while the top altcoins are changing in a range of -2.2% (DogeCoin) to +3.5% (XRP). Read next: Fed Rate Hike And Possible Further Tightening Obviously Don't Support Crude Oil Prices. Commercial Crude Oil Inventories Rose| FXMAG.COM Below current levels, Bitcoin has traded for just 17 hours in June, and on a sustained basis, it has not been lower since last November. Barring potentially very minor levels at $17K and $16K, on the chart, there are no meaningful consolidation areas for the first cryptocurrency down to $12K. Going down there looks like a very ambitious task for the bears, even with the current market. Big Prize A US court has ordered Tether, the issuer of USDT, to provide USD reserves data, including account statements from banks and other institutions. Meanwhile, a new bill has been introduced in the US Congress that proposes to ban the creation of algorithmic stablecoins like TerraUSD for two years. The XRP token has risen 22% in the past six days amid a possible SEC court case against Ripple Labs on an expedited basis. Both sides have petitioned the court to do so. "White Hacker" received 400 ETH (about $531k) from Arbitrum for identifying a vulnerability in Arbitrum's protocol code that could have resulted in millions of dollars in lost cash.
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Bitcoin Continues Its Downward Trend And Has Potential For A Further Decline

InstaForex Analysis InstaForex Analysis 22.09.2022 10:37
Technical analysis: BTC/USD has been trading downside as I expected. The price has reached first downside objectives at the level of $18.400. Anyway, there is still chance for further downside movement. Trading recommendation: Due to the strong downside trend in the background, I see potential for further drop towards major support at $17.700. Watch for the potential selling opportunities on the upside extremes and intraday rallies. Downside objectives are set at the price of $17.700 and $14.000 MACD oscillator is showing downside reading, which is sign that sellers are in control. Key resistance is set at the price of $19.550 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade       Relevance up to 10:00 2022-09-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293792
Hawkish Fed Minutes Spark US Market Decline to One-Month Lows on August 17, 2023

The Unchanging Situation Of Bitcoin And Yesterday's The Fed Decision

InstaForex Analysis InstaForex Analysis 22.09.2022 11:17
In the last few days before the Fed meeting, Bitcoin lost about 7% of its capitalization. Cryptocurrency quotes reached the dangerous level of $19k, but the bears did not have enough strength to break through it. The outcome of the Fed meeting helped the sellers increase pressure and bring the price of BTC to $18.8k. Results of the Fed meeting Fed members voted unequivocally to raise the key rate by 75 basis points. As of September 22, the key rate is at the level of 3.25%. At the same time, the Fed is actively withdrawing liquidity from the markets, but it is not possible to curb inflation. And here it is worth paying tribute to BBG analysts, who stated that the market lays a high probability of a rate at the level of 4.5% by the end of 2022. Fed Chairman Jerome Powell confirmed these intentions. The agency plans to bring the figure to 4.5% by the end of 2022. This means that the Fed has underestimated the scale of inflation and maintains an aggressive monetary policy. That is why a statement was made about the need to maintain the current policy in 2023. According to the results of the meeting, key rate easing is not planned until the end of 2023. Long term forecasts Considering that the bullish movement of Bitcoin is completely dependent on the policy of the Fed and the movement of the DXY index, this is extremely negative news for the cryptocurrency market. The Fed has signed up for the ineffectiveness of its fight against inflation, and you can forget about the promises to start easing monetary policy in the second half of 2022. Fed Watch believes futures markets have an 89% chance of raising the key rate by 75 bps in November. Given the Fed's theses, this should be the last increase in 2022 in increments of 0.75%. The situation remains negative, and the liquidity crisis will continue to worsen over time. Given this, with a high degree of probability, a significant increase in BTC/USD in 2022 should not be expected. Correlation of Bitcoin and stock indices Analyzing the movement of the price of Bitcoin and actively trading this instrument, it is necessary to pay attention to stock indices. The preservation of the current state of the market, at least until the end of 2022, indicates the continued correlation of cryptocurrency with stock indices. The S&P 500 formed a large bearish candle at the end of yesterday's trading day and started trading inside the support zone. Considering that the price of Bitcoin remained practically unchanged at the end of the trading day, we should expect a similar movement of the cryptocurrency after the opening of the American markets. Bitcoin: Technical analysis As of writing, Bitcoin has broken through the $19k support zone and is trading near $18.8k. It is noteworthy that the price drop was provoked by the bulls' attempt to reach the $20k level. However, the lack of sufficient volumes provoked a price reversal and a breakdown of the $19k support zone. On the daily chart, technical metrics point to buying activity in the $18.8k–$19.1k area. The RSI index and the stochastic oscillator resumed their upward movement in parallel, however, on the chart, we still do not see the bullish momentum working off. Given the fundamental background, there is a high probability that we will not see it. Despite the fierce resistance of the bulls, sellers manage to push the price lower and lower. Gradually, the range of price movement decreases towards the local bottom, which hints at its imminent retest. Over the past week, the price of Bitcoin has tested the final support level of $18.1k twice. The bulls repelled the attack on $18.1k, but there is every reason to believe that after the Fed meeting, the boundary will be broken, and the price will update the market bottom. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 10:00 2022-09-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322399
Bitcoin Has Strong Sign That Buyers Are In Control

Bitcoin's Downtrend With No Signs Of Possible Ending Or Reversal

InstaForex Analysis InstaForex Analysis 22.09.2022 11:55
Crypto Industry News: Unsurprisingly, the Fed raised rates by 0.75% again, reassuring those who feared a 1% rate hike, but not preventing a bearish reaction to risk assets, including cryptocurrencies. The largest digital asset in the market by capitalization indeed fell to its lowest level in more than three months after the Fed decision, reaching a low of around $ 18,200. Let us remember that the Fed's rate hike was accompanied by hawkish details, especially with regard to the FOMC members' rate forecasts outlined in the dot plot. The forecasts suggest that the Fed will raise rates by another 1.25% by the end of the year. Considering that 2 more meetings will be held by the end of 2022, rate hikes by 0.75% and then 0.50% are the most likely scenario. In addition, Jerome Powell maintained a largely hawkish tone in his press conference, leaving no doubt that the Fed will continue to fight inflation until it is brought under control. Technical Market Outlook: The BTC/USD pair has made a new marginal swing low at the level of $18,142 after the FED decided to deliver the interest rate hike to the level of 3.25%. Currently the market is trying to bounce from the extremely oversold market conditions on the H4 time frame chart, so the nearest technical resistance is seen at the level of $19,347 and $19,679. The weak and negative momentum on the H4 time frame chart still supports the short-term bearish outlook towards the level of $17,600 again, but any breakout above the descending trend line will be considered bullish. Weekly Pivot Points: WR3 - $21,295 WR2 - $20,039 WR1 - $19,341 Weekly Pivot - $18,764 WS1 - $18,064 WS2 - $17,526 WS3 - $16,271 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade     Relevance up to 11:00 2022-09-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293816
Litecoin Finally Saw A Deeper Corrective Decline

Litecoin Is In A Bearish Mood, Further Drops Are Possible

InstaForex Analysis InstaForex Analysis 22.09.2022 14:14
LTC/USD changed little in the short term. The bias remains bearish, so we cannot exclude more declines despite temporary rebounds. The altcoin could come back to test and retest the near-term resistance levels before going down. Technically, BTC/USD maintains a bearish bias, a deeper drop could force the altcoins to slip lower as well. In the last 24 hours, LTC/USD is up by 0.89% but in the last 7 days, it's down by 11.59%. LTC/USD Retests The Sellers! Technically, after dropping below the uptrend line, it has signaled a downside movement. Still, 52.30 represented a static downside obstacle. Now, it has dropped below this level but the rate tried to rebound. The descending pitchfork's median line (ml) represents a dynamic resistance. As long as it stays under this line, the bias remains bearish. LTC/USD Forecast! Staying below the median line (ml) and making a new lower low, a bearish closure below 50.01 activates more declines. This is seen as a short opportunity as well. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 13:00 2022-09-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293848
Bitcoin Maintains A Steady Bullish Potential

The Bank of Russia And An Agreement Enabling Cross-border Settlements In Cryptocurrencies, Bitcoin Continues Its Downward Trend

InstaForex Analysis InstaForex Analysis 23.09.2022 09:43
Crypto Industry News: The Russian Federation deputy finance minister Alexei Moiseev said that the draft law that has been prepared contains provisions on "how to obtain cryptocurrency, what can be done with it" and how to use it in cross-border settlements. We also learned that the Bank of Russia and the Ministry of Finance of the country have reached an agreement enabling cross-border settlements in cryptocurrencies. According to Thursday's report by the Russian agency "Kommersant", Russia's deputy finance minister Moiseev said that his ministry had agreed with the central bank regulations that would allow citizens to send cross-border payments using cryptocurrencies. The proposed policy change is said to allow Russian citizens to access digital wallets. "[The Act] generally describes how to acquire cryptocurrency, what can be done with it and how it can (...) be used in cross-border settlements"-Moiseyev said. Russian news agencies also report that the central bank has long discussed the issue of cross-border payments with government officials. The Bank of Russia has reportedly opposed the legal operation of cryptocurrency exchanges and the acceptance of such assets as legal tender. Technical Market Outlook: The BTC/USD pair had bounced from the extremely oversold market conditions on the H4 time frame chart. The nearest technical resistance is seen at the level of $19,347 and $19,679 and only a sustained breakout above this levels would change the outlook to more bullish. The weak and negative momentum on the H4 time frame chart still supports the short-term bearish outlook towards the level of $17,600 again, but any breakout above the local trend line might be considered bullish. Weekly Pivot Points: WR3 - $21,295 WR2 - $20,039 WR1 - $19,341 Weekly Pivot - $18,764 WS1 - $18,064 WS2 - $17,526 WS3 - $16,271 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 09:00 2022-09-24 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293958
Why India Leads the Way in Economic Growth Amid Global Slowdown

Bitcoin Classified As A Risky Asset, The S&P 500 Having A Higher Earnings Forecast For Future

InstaForex Analysis InstaForex Analysis 23.09.2022 11:55
For a long time, bitcoin and US stock indices, hand in hand, walked along the same road. As a result, the 60-day correlation between the S&P 500 and the leader of the cryptocurrency sector reached 0.72, which is slightly lower than the May record. At the same time, the collapse of the stock market, provoked by the increase in the federal funds rate to 3.25% in September, causes less and less panic in the ranks of the BTCUSD bulls. The token managed to cling to the psychologically important level of 19,000. Has it really hit the bottom, or is the crypto winter far from over? The dynamics of bitcoin proves that investors have classified it as a risky asset, the value of which is affected by the Fed's monetary policy. In this respect, BTCUSD's 70% drop from November highs and 60% YTD can be easily explained by the Fed's changing mindset. If in 2021 it was confident in the temporary nature of high inflation and was in no hurry to get rid of monetary incentives, in 2022, everything turned upside down. Raising the federal funds rate from 0.25% to 3.25% and scaling up the quantitative tightening program to $95 billion a month pushed real Treasury yields to levels last seen in 2011. Such a surge in real rates could not but affect the positions of risky assets, which are now in the black. Dynamics of BTCUSD and S&P 500 With 85% of stocks in the S&P 500 having a higher earnings forecast for the next 12 months than before the pandemic, and 81% trading below their values from those days, it seems that the stock index has room to rise. However, it should be borne in mind that at the height COVID-19 pandemic, the profits of companies, especially technology companies, have increased significantly. Their fundamental estimates, on the contrary, fell due to the Fed's monetary restriction. In addition, the stock market does not fully take into account the high probability of a recession, which allows us to talk about the untapped potential for its collapse and is bad news for BTCUSD. Why, then, did bitcoin manage to clutch at a straw like a drowning man? Even with information that the federal funds rate could rise to 4.6% in 2023, in line with FOMC forecasts? In my opinion, it is due to the overflow of capital. Money is running out of stocks and bonds, resulting in higher yields for the latter. At the same time, the presence of the US dollar in the area of 20-year highs suggests that the currency is overvalued. Where else can the capital be directed? Why not in the crypto sector? Whose assets, on the contrary, look oversold against the background of grandiose collapses from the levels of November highs. Technically, on the daily chart of BTCUSD, the bulls do not give up hope of completing the formation of the Broadening Wedge reversal pattern. To do this, they need to raise bitcoin quotes above 22,800. Risky entries into longs are associated with the storm of resistance at 19,800 and 20,200, where the fair value and moving averages are located. Relevance up to 09:00 2022-09-28 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322505
Technical analysis of the leading cryptocurrency, Bitcoin, by Sebastian Seliga (InstaForex) - 27/10/22

Bitcoin Weekly Forecast: BTC makes a bullish comeback amid regulatory tension, but lacks confirmation

FXStreet News FXStreet News 23.09.2022 15:47
Bitcoin price takes the first step to recovery but needs solid confirmation that will arrive after a flip of the $19,539 level into a support floor. After a successful flip, investors could expect a move up to an intermediate hurdle at $20,737. A daily candlestick close below $17,593 will invalidate the bullish thesis for BTC. Bitcoin price has produced three consecutive lower lows since September 7, but at the same time, the Relative Strength Indicator (RSI) has shown a positive rise demonstrating a lack of underlying bearish power. This lack of confirmation indicates a possible reversal is in sight, and BTC has started to climb higher, but it still faces one of the biggest hurdles and only by overcoming it will it confirm a short-term shift in regime favoring bulls. Stablecoins under fire from US watchdogs While technicals are struggling to develop a firm bias, regulators in the US have taken a serious approach in culling algorithmic stablecoins after the recent collapse of Terra/LUNA that sent shockwaves in the crypto ecosystem. The House of Representatives Financial Services Committee (FSC) has targeted stablecoins such as DAI, FRAX and USDD and proposed a bill that could put a two-year ban on these assets. The reason for this bill can be traced back to the collapse of the Terra-LUNA ecosystem in the second quarter of 2022. In this regard, Rep. Warren Davidson stated, There's an outside chance we find a way to get to consensus on a stablecoin bill this year. While there is a war on stablecoins, Tether, one of the largest issuers of stablecoins, came under fire this week as Katharine Polk Failla, a U.S. Judge in New York, ordered the company to produce documents confirming that all the issued USDT is backed with US dollars. Regardless of the regulatory mayhem, BTC is slowly trying to regain momentum and needs to overcome one crucial hurdle to jumpstart its uptrend. Bitcoin price and its technical woes BTC price is in a tight corner, technically speaking. After forming another swing low at $18,804, BTC price has rallied 7% and is currently grappling with the $19,405 to $19,599 resistance box. August’s lows at $19,539 are key to the outlook, as we shall see. There are two things investors should pay attention to: A flip of the $19,539 barrier into a support level. RSI sustaining above the 43 to 46 support box as BTC flips the aforementioned level. If both these conditions are met, then Bitcoin price would be primed for a move higher. In such a case, BTC will face a significant resistance confluence consisting of the $20,737 resistance level combined with the declining trend line connecting the swing highs since May 31. Clearing these hurdles will not be easy, but it will be necessary to open the path to retest and sweep the previous weekly high at $22,850. Beyond this level, market participants should shift their focus to August’s high at $25,200. This level is significant since it contains the midpoint of the $32,427 to $17,593 range at $25,010. A retest of this level could create a local top for Bitcoin price. BTC/USDT 1-day chart IntoTheBlock’s Global In/Out of the Money (GIOM) model supports this rally in Bitcoin price. This indicator shows that the immediate support level, extending from $9,600 to $18,470, is not as strong as the resistance level but is capable of producing a bounce. The immediate hurdle, however, extends from $19,405 to $28,954, where roughly 5.05 million addresses that purchased 3.1 million BTC at an average price of $22,095 are “Out of the Money.” This resistance cluster coincides with the targets mentioned from a technical perspective, adding more credence to the possibility of a bounce. However, investors should note that a move into the said cluster could result in a sell pressure from these underwater holders who would want to break even. BTC GIOM Another interesting metric that promotes this bullish narrative is the on-chain volume, which has been on a steady uptrend. After dipping to 16.39 billion BTC in the first week of July, it has steadily surged to where it currently stands, 41 BTC. This uptick indicates that more investors are interacting with the BTC blockchain, and hence there is an increase in capital inflow, which is a bullish sign depending on the market structure. BTC on-chain volume While things are looking up for Bitcoin price, investors should be prepared for a whipsaw scenario which would include a sweep of the June 18 swing low at $17,593. This move would be a good opportunity to buy if BTC recovers and sustains above this level quickly. However, a daily candlestick close below the said level that flips it into a resistance level will invalidate the bullish thesis. In such a case, Bitcoin price could crash to $15,500, which is the next stable support level. If the selling pressure continues to spike, the big crypto could trigger a sell-off to $13,500 and $11,989, where a macro bottom for the bear market could form.
Bitcoin Maintains A Steady Bullish Potential

No One Is Surprised That Bitcoin Is Lower, Wall Street Will Substantially Cut Its S&P 500 Targets

Ed Moya Ed Moya 24.09.2022 13:54
Unsettling market volatility is going to be here for a while as Wall Street broadly downgrades their end of year S&P 500 targets. The bond market is telling us they firmly believe Fed Chair Powell has rolled up his sleeves and is ready for this fight with inflation to get ugly. It appears that a hard landing is becoming more likely and that is driving this current round of risk aversion. Every time we get a better-than-expected economic reading, traders are anticipating that will allow the Fed to be even more aggressive with tightening of policy.  Today’s US flash PMIs showed business activity improved and while input-cost inflation cooled.  The rest of the world is seeing strong contraction readings and that will keep the stock market selling pressure widespread.  With one week left in the quarter, Goldman Sachs had to admit they were wrong with their optimistic stock market outlook and sliced their end of year S&P 500 target from 4,300 points to 3,600, which would be below the June low. A lot of traders expected hints of a Fed pivot at Jackson Hole or at the September FOMC policy, but that never happened. A hard landing is becoming the base case scenario for many and that means more economic pain along with a much weaker stock market is coming. How far we go below the summer lows is anyone’s guess.  Over the next couple of weeks, long-term investors may hesitate buying into weakness because it doesn’t seem like any economic data release or Fed speak will convince markets that a downshift from this aggressive tightening campaign will be happening anytime soon.  Downside targets for the S&P 500 include the 3,470 level, which might look attractive for some long-term investors.  FX The British pound collapsed after Chancellor of the Exchequer Kwarteng’s fiscal statement.  Financial markets abandoned bets on the British pound and UK bonds as foreign investors doubt the government will be able to fund this new round of debt.  The British pound is sharply lower on the markets rejection of this fiscal handout that includes both the biggest tax cut in half a century and investment incentives. Oil Oil tanks as global growth concerns hit panic mode given a chorus of central bank commitments to fight inflation.  It seems central banks are poised to remain aggressive with rate hikes and that will weaken both economic activity and the short-term crude demand outlook. The dollar rally is about to enter another level that could keep the pressure on commodities, especially oil prices.  Rig counts continue their steady rise, climbing by 3 and bringing the total to 602. The steady climb in rigs however has not led to any significant increases with US production.  Once WTI crude broke below the $80 level, technical selling was persistent. Despite all the bearishness that is hitting oil prices, economic activity isn’t falling off a cliff. Next week, energy traders will pay close attention to a tropical depression that could become a hurricane that is headed towards Florida.  If the selling remains strong at the start of next week, major support now resides at the $74 level.  Gold Gold continues to get picked on as global bond yields at the short-end of the curve skyrocket.  Everything is going wrong for gold; Strong dollar, weakening jewelry demand as China’s outlook continues to deteriorate, central banks are not focusing on buying bullion, and the bond market remains its worst enemy. If gold’s selling pressure remains, prices could tumble towards the psychological $1600 level. Crypto It is an ugly day on Wall Street and no one is surprised Bitcoin is lower.  Risky assets are getting hit hard as a wrath of global central bank tightening is leading many to think hard economic times are upon us.  Despite today’s crypto weakness, Bitcoin selling has not made a clear attempt at the summer lows. Bitcoin is only $1000 away from June low, so traders will pay close to attention to what happens over the weekend.  Weekend volatility could be interesting here and if a breach of the summer low occurs, don’t be surprised if that does not last until Asia opens on Sunday night. On a day when stocks are down over 2%, you would expect Bitcoin to be down double or triple that and not just around 3% weaker, which could mean many long-term holders remain unfazed.  This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Bio Twitter Latest Posts  
In The Coming Days Will Be The Final Consolidation Of Bitcoin

The Downward Trend Remains Strong In The Bitcoin Market

InstaForex Analysis InstaForex Analysis 26.09.2022 09:49
Technical analysis: BTC/USD has been trading downside as I expected and the price and the price is heading towards downside objectives from last week. I still see potential for the further drop. Trading recommendation: Due to the strong downside pressure in the background and breakout of the triangle pattern, I see potential for further drop.. Watch for the potential selling opportunities on the intraday rallies with the downside objectives at the price of $18.000 and $17.700. MACD oscillator is showing downside reading, which is good sign for further downside movement. Key resistance is set at the p[rice of $19.800 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 09:00 2022-09-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294146
Bitcoin Maintains A Steady Bullish Potential

Bitcoin Price Going Above The $69K In The Near Future? Find Out What Does Michal Saylor Think About It

Alex Kuptsikevich Alex Kuptsikevich 26.09.2022 10:09
Bitcoin is down 4.1% over the past week, ending near $18,900. Ethereum lost 5.8% to $1290. Other leading altcoins in the top 10 showed mixed dynamics, ranging from a 3.7% decline (Cardano) to a 27% increase (XRP). Crypto Market Capitalisation Down! Total crypto market capitalisation, according to CoinMarketCap, declined by 2.4% over the week to $928bn. Cryptocurrency Fear & Greed Index fell by 3 points over the week to 24 ("extreme fear"). Read next: Leaders Must Take Action To Protect The Environment. The Statement By E. Muska Will Cause Confusion| FXMAG.COM Meanwhile, the cryptocurrency market became a safe haven compared to the collapse of major currencies and stock indices. The beginning of the week raises the question, what is behind the relative resilience of cryptos? This market could be forgotten for a while, as all the attention and capital flows are on flagship assets. Alternatively, it could manifest traders' inner confidence that peak fear is near and cryptocurrencies are already cheap enough for long-term investors. Michael Saylor's Prediction Former MicroStrategy CEO Michael Saylor said that bitcoin would surpass the $69K reached in November 2021 in the next four years. BTC could trade as high as $500K in the next decade if its market capitalisation equals that of gold. Judging by bitcoin's simple four-year moving average, its bottom is at $20K, Sailor suggested.Bitcoin's bear market has yet to reach its final stage, and investors should prepare for further declines. Some participants expressed this opinion in a Cointelegraph poll on Twitter. Read next: Lots Of Speeches From The Old Continent, Germany Provides Reports| FXMAG.COM Ethereum co-founder Vitalik Buterin said all cryptocurrencies should switch to the Proof-of-Stake (PoS) algorithm. He believes that over the next 18 months, ETH will become much more scalable, which will significantly reduce transaction fees.Ripple CEO Brad Garlinghouse disagreed with the SEC that Ethereum could be considered unregistered security after the move to PoS.
Bitcoin Has Strong Sign That Buyers Are In Control

New Light On The History Of Cryptocurrency, Bitcoin's Downward Trend Without The Possibility Of Indicating The End

InstaForex Analysis InstaForex Analysis 26.09.2022 11:59
Crypto Industry News: Bitcoin.org, the Internet domain associated with Bitcoin, was created on August 18, 2008 as part of the AnonymousSpeech service, which allows users to purchase domain names anonymously. The AnonymousSpeech domain purchase history shows that the day before, on August 17, 2008, someone purchased a Netcoin.org domain. Was it Nakamoto who at the last minute changed the name of his project to Bitcoin? After careful analysis, Or Weinberger confirmed that no content was associated with the Netcoin.org domain. This domain "was later bought back by another person." The decision to stay with Bitcoin may have been critical to BTC's success as many members of the cryptocurrency community now emphasize their aversion to the Netcoin name. This discovery sheds new light on the history of cryptocurrency. If it were true that Bitcoin was originally supposed to be called Netcoin, why did many of the self-proclaimed Nakamoto's never mention it? Isn't this potential evidence that Satoshi Nakamoto's real identity remains unknown? The Netcoin.org domain was later removed and re-registered with the Web.com subsidiary in 2010. Technical Market Outlook: The BTC/USD pair has been seen continuing to trade inside the narrow zone located between the levels of $18,640 - $19,361 for all the weekend long. The nearest technical resistance is seen at the level of $19,347 and $19,679 and only a sustained breakout above this levels would change the outlook to more bullish. The weak and negative momentum on the H4 time frame chart still supports the short-term bearish outlook towards the level of $17,600 again, but any breakout above the local trend line might be considered bullish. Weekly Pivot Points: WR3 - $19,226 WR2 - $18,987 WR1 - $18,829 Weekly Pivot - $18,742 WS1 - $18,587 WS2 - $18,500 WS3 - $18,259 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 09:00 2022-09-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade Read more: https://www.instaforex.eu/forex_analysis/294177
China's Deflationary Descent: Implications for Global Markets

Kiyosaki's Statement On The End Of Fake Dollar And Points To A Safe Haven For Investors

InstaForex Analysis InstaForex Analysis 26.09.2022 13:52
Over the weekend, the rate of ether and bitcoin traded quite calmly within the side channel. However, there is still not enough optimism about a larger upward correction of these trading instruments. But before we talk about the technical picture, I would like to say a few words about the recent advice of the well-loved Robert Kiyosaki—the famous author of the bestseller "Rich Dad, Poor Dad." Kiyosaki recently said that fake money has come to an "end" and gave three tips to help investors succeed in market crashes. Kiyosaki tweeted why, in his opinion, the end of "fake" money has come. "End is here. Called Jerry Williams, my trusted gold and silver dealer. He said: 'I can't get gold or silver coins. The mint will not sell me anymore.' To me, this means the end of fake $ is here." The well-known author echoed his recent recommendation: "As stated in earlier tweet silver going to $100 to $500." His advice was immediately followed by another statement in which he claimed that gold is expensive, calling silver the best investment value to date. Kiyosaki's reasoning is very simple: when President Richard Nixon decoupled the US dollar from its peg to gold, the so-called gold standard, in 1971, the US dollar simply became fake money. The author also recalled three lessons of investing: 1: Your home is not an asset. 2: People who save money are losers. 3: The rich don't work for dollars. Last week, Kiyosaki urged people to "invest in real money," naming bitcoin, gold and silver. He stressed that the Federal Reserve is now doing everything to destroy the U.S. economy amid the interest rate hikes. Kiyosaki urged subscribers to buy cryptocurrency now, ahead of the biggest crash in world history. The well-known author has been claiming for months that he is waiting for the price of the cryptocurrency to bottom out before entering. As for today's technical picture of bitcoin, as I noted above, nothing much has changed since the weekend. The focus is now on the immediate resistance of $19,000, the return of which is "like air" needed in the near future. If this area is broken, you can see a push up to $19,520 and then to $20,000. To build a larger upward trend, it is necessary to break above the resistance of $20,540 and $21,140. If the pressure on Bitcoin returns, and most likely it will, the bulls should make every effort to protect the $18,600 support that has already been tested several times. Its breakout will quickly push the trading instrument back to $18,100 and open the way to update the $17,580 level. Ethereum remains above $1,270 after the recent crash that occurred immediately after the switch to PoS. The most important task for buyers in the current environment is to get back under control of the $1,350 resistance, which will be quite difficult to get above. Its breakdown will lead to stabilization of the market direction and a slight correction to the $1,440 area. The further target will be the $1,504 and $1,550 areas. If the pressure on the trading instrument continues and the rather important $1,270 support is broken, this will push the Ethereum to $1,210 and $1,150, where the big players will again appear in the market. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 09:00 2022-09-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322638
Changing correlation of Bitcoin and US stocks. Brazil: Lower house of Congress approved crypto regulation bill

An Arrest Warrant For The CEO Of Terraform Labs| Bitcoin Keeps Its Trend

InstaForex Analysis InstaForex Analysis 27.09.2022 09:13
Crypto Industry News: Despite the fact that the founder of Terraform Labs claims that he is open to cooperation with legal authorities, the South Korean authorities found him elusive, and as a result, in cooperation with Interpol, countries cooperating with the institution were called to detain him. As a result of Singapore authorities' inability to capture Do Kwon, where he is officially arriving, Interpol issued a red note signaling that the charges against him were serious enough to deserve international standing. The red note does not in itself constitute an arrest warrant, as it is a request to the countries cooperating with Interpol to track down and temporarily detain a given person on behalf of the country where the refugee is being sought. Currently, the red note does not appear on the official Interpol website yet. However, according to Bloomberg, authorities in Seoul have confirmed that such a request has been made in the case of Do Kwon. South Korean authorities issued an arrest warrant for the CEO of Terraform Labs two weeks ago, citing violations of local capital laws. At the time, Kwon was believed to be at his home in Singapore. Later, this information was denied by law enforcement, which determined on September 17 that he was not there. Technical Market Outlook: The BTC/USD pair had broken out from the narrow zone located between the levels of $18,640 - $19,361 and made a local high at the level of $20,333 (at the time of writing the article). The nearest technical resistance is seen at the level of $20,473 and $20,580 and only a sustained breakout above this levels would change the outlook to more bullish. The market conditions on the H4 time frame are now extremely overbought, so please keep an eye on the supply zone located at $20,473 and $20,580 for abnormal bearish activity. The nearest technical support is seen at $19,815. Weekly Pivot Points: WR3 - $19,226 WR2 - $18,987 WR1 - $18,829 Weekly Pivot - $18,742 WS1 - $18,587 WS2 - $18,500 WS3 - $18,259 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.
Bitcoin Began To Move Up Today, Does That Signifies A Shift In Trend?

Bitcoin Began To Move Up Today, Does That Signifies A Shift In Trend?

InstaForex Analysis InstaForex Analysis 27.09.2022 10:52
Technical analysis: BTC has been trading upside today and I found breakout of the multi day range, which is good sign for further rally. I see potential fo the further rally. Trading recommendation: Due to the breakout of the multi day balance in the background, I see potential for further upside continuation. Watch for the potential buying opportunities on the dips with the upside objectives at the price of $21.200 and $22.565. MACD is showing positive reading, which is good sign that demand is in control.... Key support s set at the price of $18.550 Relevance up to 10:00 2022-09-28 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294384
GBP/USD Analysis: GBP Maintains Growth Momentum, Market Awaits US Inflation Report

The Entire Cryptocurrency Market Are At Risk Of Going On A Local Bull Run

InstaForex Analysis InstaForex Analysis 27.09.2022 12:52
The Merge did not have a significant impact on Ethereum quotes, as a full-fledged transition to PoS is just beginning. A significant part of the DeFi sector is in transition and the main altcoin is waiting for several updates before the migration is fully completed. The maximum value from switching Ethereum to PoS will become clear during the next bullish rally. Until then, the altcoin continues to fluctuate in the $1,200–$1,800 range. Over the past 24 hours, the cryptocurrency managed to slightly improve the situation and rise in price by 7%. Ethereum Gives Bullish Signals As of writing, Ether is trading at $1,380 and continues to be bullish. ETH ended the last trading day with a bullish momentum and a small green candle. Most of the buying volumes in the Ethereum network were already formed on September 27. The cryptocurrency has come close to the $1,400 level, which is a key resistance zone. The asset has every chance to gain a foothold above this level at the end of the current trading day. However, it will be possible to talk about a local price reversal only if it successfully consolidates above $1,450. ETH/USD Technical analysis On the daily chart, ETH/USD is showing serious bullish signals. The RSI index has acquired an upward direction, indicating the formation of buying volumes. The MACD indicator is one step away from forming a bullish crossover and resuming upward movement. A strong bullish signal is shown by the stochastic oscillator. The metric has been unable to overcome the oversold zone since September 14 but has subsequently realized a bullish momentum. The indicator has reached the level of 26 and keeps its upward direction. From a technical point of view, the cryptocurrency is approaching the birth of a local upward trend. If it successfully consolidates above $1,450 at the end of the current trading day, the asset has every chance to develop success in the direction of $1,600–$1,800. Reasons for the likely upward trend The main reason for the likely upward trend of the cryptocurrency may be the correction of the US dollar index. The indicator reached a peak value of 114.5 for more than 20 years, after which it began to correct. Given that the DXY technical metrics are in a state of excessive overbought, a deeper correction should be expected. There is also a gradual increase in trading activity. The number of unique addresses and transaction volumes are growing, which may indicate preparations for a local bullish movement. However, it is most likely that a clear jump in indicators will occur if the price successfully consolidates above $1,450. The positive news was the publication of Stanford researchers with the concept of new standards for Ethereum tokens. The study involves the creation of standards for conducting reversible transactions. Management will be carried out by a decentralized system using a voting system. Conclusions Ethereum, Bitcoin and the entire cryptocurrency market are at risk of going on a local bull run due to the DXY correction. The gradual influx of funds into crypto funds hints at an improvement in the investment situation in the market. However, to confirm bullish intentions, Ethereum needs to gain a foothold above $1,450 at the end of the current trading day.   Relevance up to 09:00 2022-09-28 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322758
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

A Technical Look At The Bitcoin Situation, Bitcoin Jumped Sharply

InstaForex Analysis InstaForex Analysis 27.09.2022 13:42
Technical outlook: Bitcoin jumped sharply towards the $20,200-300 area intraday on Tuesday, after testing the $18,700 lows over the weekend. The crypto has appreciated by around 8% in the last two trading sessions in line with our forecast. It is seen to be trading close to $20,225 at this point in writing and has got room left towards $21,000 at least in the near term. Bitcoin is facing immediate price resistance at around $22,800 and a break higher will open the door to re-test $25,000 and target up to $29,500 in the next several trading sessions. Also, turn attention to the immediate resistance trend line connecting $25,000 and $22,800 highs on the chart. A push through will further confirm that the bulls are back in control. Bitcoin will be facing some resistance at around $20,900 in the near term, which is the Fibonacci 0.618 retracement of recent drop between $20,800 and $18,200. A break through $20,900 will be another confirmation that the bulls are poised to push through near-term resistance and target towards the $29,500 mark. Trading idea: Potential rally towards $29,000 against $18,000 Good luck!   Relevance up to 13:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294417
Unlocking the Future: Key UK Wage Data and September BoE Rate Hike Prospects

Bitcoin Is Booming, Gold Is Rebounding And Oil Prices Are Rising

Craig Erlam Craig Erlam 27.09.2022 14:42
Oil pares losses ahead of next week’s OPEC+ meeting Oil prices are recovering following the sell-off over the last couple of sessions. The prospect of a deeper economic slowdown, perhaps even global recession, has naturally turned traders more bearish on the price of oil as demand would naturally slump in those circumstances relative to prior expectations. Of course, there is another side to that equation, supply. The message from OPEC+ earlier this month was quite clear; it stands ready to adjust supply if fundamentals change or volatility continues and prices no longer reflect the situation. While it has so far resisted the urge to hold an unscheduled meeting, the next showdown is next week so we should soon have a more updated view in light of everything we’ve seen recently. In the meantime, we could see further pressure on oil prices if economic woes continue to dominate and traders want to test the resolve of the alliance in the face of severe global economic risk. In the midst of an inflation and cost-of-living crisis, you have to wonder why the group would want to keep prices artificially high in the short term as it will only make a global recession all the more likely. Gold bouncing back but risks remain to the downside Gold is rebounding after another terrible start to the week that saw it plunge back to $1,620, its lowest level since April 2020. It just goes from bad to worse for the yellow metal as traders continue to flock to the greenback and yields keep rising. The question for gold traders is how close are we to peak rate pricing and inflation. Obviously, the same question is being asked in all corners of the markets and so far, no one really has the answer. With that in mind, it’s hard to build a bullish case for gold. Once we see signs of hitting that peak, we could see a recovery amid continued demand for safe havens. In terms of levels, it’s hard to say where that will come. The first test to the upside now is $1,640 followed by $1,650 and $1,680 but there still could be further pain ahead, with $1,600 being the next obvious test. What’s driving the recovery in bitcoin? Bitcoin is staging a remarkable recovery amid a mild reprieve elsewhere on Tuesday which will no doubt excite a crypto crowd after another rough period. Turmoil elsewhere appears to have lifted bitcoin which has largely traded as a high-risk asset. This will undoubtedly stoke conversations about its role in the new economy, perhaps even reignite claims of its safe haven status. Naturally, I’m far from convinced but it’s certainly intriguing to watch unfold given the chaos we’re seeing elsewhere. This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Bitcoin Is Still Under Bearish Pressure And The Growth Was Nothing Important

InstaForex Analysis InstaForex Analysis 27.09.2022 14:53
Red lines- bearish channel Bitcoin has broken above it's short-term resistance of $19,500 and is trading again above the $20,000 price level. This short-term push higher by its own is nothing important. Looking at the weekly chart price remains inside the weekly downward sloping channel and below its upper boundary. In order for Bitcoin bulls to have hopes for a bigger move higher towards $30,000, we need to see price break above the resistance of $22,800 and start making higher highs and higher lows. The $22,800-$23,500 zone is important resistance that bulls need to break in order to change short-term trend. Until then price will remain vulnerable to more downside.   Relevance up to 14:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294440
Apple & NFT | Bitcoin Gained On Monday, Glassnode Expects BTC To Trade Between $17-25K

Apple & NFT | Bitcoin Gained On Monday, Glassnode Expects BTC To Trade Between $17-25K

Alex Kuptsikevich Alex Kuptsikevich 27.09.2022 10:35
Bitcoin Price Increased Yesterday Bitcoin rose 1.1% on Monday, and on Tuesday morning, it "shot up" another 5.5%, adding 7.5% over the past 24 hours. This growth momentum has brought the price of the first cryptocurrency back above $20K, in stark contrast to the dynamics of falling markets and a strengthening dollar. Ethereum added almost as much - 7% - rising to $1,385. Against this backdrop, total crypto market capitalisation jumped 5.5% to $970 billion, with top altcoins adding between 2.3% (XRP) and 8.1% (Solana). According to CoinShares, investments in cryptocurrencies rose for the second consecutive week last week. Net inflows were $8 mln, Bitcoin investments were up $3 mln, and Ethereum investments were up $7 mln. Investments in funds that allow shorts on bitcoin were down $5 mln, the first decline in 8 weeks. Read next: The Weakening Real Estate Market In The USA And More Speeches| FXMAG.COM While the Dow Jones index closed at its lowest since November 2020, the Nasdaq100 turned to growth after nearing the lows of June, and cryptocurrencies showed a strong surge. The outperformance of the riskiest assets is more typical of periods of great monetary stimulus. Therefore, the most relevant question is whether we are now see ing the first signs of a market reversal or a trap for naive bulls. NFTs And Apple Bitcoin will continue to trade in a range of $17K to $25K, Glassnode expects. Intense US Federal Reserve monetary policy pressure and an unfavourable macroeconomic climate offset any essential positive developments in the crypto industry. Dan Morehead, CEO of crypto hedge fund Pantera Capital, believes billions of people will use blockchain in the coming years, increasing the value of cryptocurrencies. The SEC has demonstrated that it intends to "damage or destroy the cryptocurrency industry in the US", said LBRY, a decentralised content publishing platform. Technology giant Apple has allowed the sale of collectable tokens (NFTs) in apps on its devices, but the commission will be 30%, sparking outrage in the crypto community.
Fed is expected to hike the rate by 50bp, but weaker greenback and Treasury yields don't play in favour of the bank

Look How Much Have JPY, British Pound, Euro And New Zealand Dollar (NZD) Lost Against USD In 2022 So Far

Conotoxia Comments Conotoxia Comments 27.09.2022 17:23
You can't complain about volatility lately, looking at the traditional financial markets. Both stock indexes and currencies may have seen increased volatility, not to mention the bond market. Bitcoin to the dollar It would seem that a dollar hitting consecutive 20-year peaks, indexes deepening the bottom of a bear market, or rampant bond yields would be an environment in which cryptocurrencies could significantly fall. For the moment, however, this has not happened. On the contrary, despite the downswing in stock markets and a more expensive dollar or higher bond yields than at least a week ago, bitcoin seems to be gaining against the USD. Can the world's largest cryptocurrency provide an alternative in these times? Source: Conotoxia MT5, BTCUSD, H4 Bitcoin an alternative in a currency crisis? Since the beginning of this year, the Japanese yen and the British pound have lost more than 20 percent against the U.S. dollar. The euro has lost more than 15 percent against the USD, and the New Zealand dollar more than 16 percent. We are talking about some of the world's most important currencies and a period of less than 10 months. In the long term, the losses of individual currencies seem to be even greater. From this perspective, the market is beginning to talk about a possible currency crisis, as well as new resolutions, or an increase in the chances of joint intervention against the strength of the USD. Whether this would happen is a separate topic, but if the major currencies are losing value so significantly, the question is whether bitcoin will be able to play the role of an asset, to store the value of money over time. Additionally, Americans may have an even bigger problem than other countries. While investors from Europe or Asia were able to buy USD with their local currency and could possibly benefit from a change in the exchange rate, Americans seem that they did not have such an opportunity. U.S. investors, what they would touch this year, they could lose on. Foreign currencies against the USD weakened, the stock market fell, together with bonds and gold in USD. There seems to be no place where, owning dollars and being in the US, someone could store capital so that it is not devoured by inflation (except for short positions in the aforementioned markets). While this is a far-fetched thesis, it is worth recalling that bitcoin could have been a response to the ineptitude of government, supervision and the central bank, leading the US economy to collapse through the real estate crisis. Today, citizens' wealth may also be at risk. Inflation, high interest rates (but not so high that they yield interest over inflation), an economic slowdown or recession, or poor prospects for recovery. Perhaps when the situation is already very bad in the markets and in the economy (according to forecasts, this could be the case in 2023), bitcoin could attract capital to store it over time, because here the rules about money creation are very clear and known in advance for decades ahead, unlike the actions of central banks. Did you know that CFDs allow you to trade on both falling and rising prices? CFDs allow you to open buy and sell positions, and thus invest when quotes rise as well as fall. At Conotoxia, you can choose from CFDs on more than 5,000 financial instruments, including more than 140 CFDs on cryptocurrencies. Wanting to find a CFD on the cryptocurrency of your choice, all you need to do is follow 4 simple steps: To access Trading Universe - a state-of-the-art center for financial, information, investment and social products and services with a single Smart account, register here. Click "Platforms" in the "Invest&Forex" section. Choose one of the accounts: demo or live On the MT5 or cTrader platform, search for the CFD cryptocurrency you are looking for and drag it to the chart window. Use the one-click trading option or open a new order with the right mouse button. Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. Read more on Conotoxia
The G20 And IMF Are Already Preparing Their Crypto Regulation

Michael Saylor Statements That Cryptocurrency Is Better Than Physical Property

InstaForex Analysis InstaForex Analysis 28.09.2022 08:59
On the 4-hour TF, it is even better to see that recently, bitcoin has been moving exclusively sideways, with minimal volatility and exactly along the $18,500 level. Another rebound from this level provoked an upward pullback, but we believe this is an oversold before a new test of the $ 18,500 level, which will be successful this time. Recall that there is also a descending channel on the 4-hour TF, from which the price has not yet tried to exit. Consequently, we have a downward trend in both senior TF. A rebound from the channel's upper border can provoke a new round of downward movement. In the last article, we discussed that "whales" are in no hurry to make new bitcoin purchases, and "hamsters" are waiting for a new trend to join. However, at least one unshakable "whale" is always on the market. We are talking about the Microstrategy company, which, it seems, will soon start selling off its assets and parts of the business to invest in bitcoin. This company may become commensurate with Apple or Tesla, thanks to its investments in cryptocurrency. However, so far, it only makes many people laugh. If we take the average price of bitcoin purchases, MicroStrategy investments are now unprofitable. Whether there will be a new "bullish" trend is still "written with a pitchfork on the water." The world is now in such a state that it is pointless to think of anything for the week ahead. However, Michael Saylor, who is no longer CEO, announced the purchase of another 300 bitcoin coins for $ 6 million. As you can see, this action was not so large that other market participants joined the purchases. The company already has 130,000 bitcoin coins worth $ 4 billion, and I would like to ask why they still need the main software development activity. If bitcoin grows to $ 100,000 per coin, it will bring the company at least $ 16 billion in profit. Also, Michael Saylor continues to make rather strange statements that cryptocurrency is better than physical property. Many of those coins being purchased now will be owned by their children and grandchildren. However, most investors buy bitcoin to extract the fastest possible profit. In any case, even if Bitcoin goes into growth again, technical buy signals are needed. There are none now. In the 4-hour timeframe, the "bitcoin" quotes completed an upward correction. We believe the decline will continue in the medium term, but we must wait for the price to consolidate below the $17,582-$18,500 area. If this happens, the first target for the fall will be the level of $ 12,426. The rebound from the level of $18,500 (or $17,582) can be used for small purchases, but be careful – we still have a strong downward trend.   Relevance up to 16:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322820
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Bitcoin Is Still Under Strong Pressure From The Downward Trend

InstaForex Analysis InstaForex Analysis 28.09.2022 09:56
Technical analysis: BTC has been trading downside in the background and I found breakout of the rising channel, which is good sign that sellers took control over buyers. Trading recommendation: Due to the strong downside pressure in the background and the breakout of the rising trend-line, I see potential for further drop. Watch for the potential selling opportunities on the intraday rallies with the downside objectives at the price of $18.200 and $17.770. MACD oscillator is showing fresh downside momentum, which is strong sign that sellers are in control. Resistance is set at the price of $20.300   Relevance up to 08:00 2022-09-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294550
More And More Universities Are Including Metavers In Their Education Program

More And More Universities Are Including Metaverse In Their Education Program

InstaForex Analysis InstaForex Analysis 28.09.2022 09:37
Crypto Industry News: There is a growing number of universities and educational institutions that include metaverse in their educational programs. Now the University of Nanjing, located in East China, has joined this group. Nanjing University of Information Technology and Technology changes the name of one of its main faculties, the Faculty of Information Engineering, to the "Faculty of Metaverse Engineering". This is to integrate more metaverse courses. According to the sources, this may be the first section of an educational institution in China to contain the word "metaverse". Mr. Zhigeng, dean of this transformed faculty, said the move will contribute to the university's integration with virtual reality enterprises. Its aim is to better identify the needs of current and future metavers users and train more talents in this regard. Zhigeng also announced that students will be better qualified to work in three different areas, including smart healthcare, smart education and digital tourism. To develop the university in these segments, the faculty will establish three different working groups: the Metaverse Research Institute, the Smart Meteorological Research Institute, and the Smart Medical Research Institute. Technical Market Outlook: The BTC/USD pair breakout had been capped after hitting the supply zone located between the levels of $20,221 - $20,580 Only a sustained breakout above this levels would change the outlook to more bullish, however after the Bearish Engulfing candlestick pattern was made at the level of $20,374, the odds for a breakout higher are very low. The market conditions on the H4 time frame are neutral-to-negative and the momentum might be going lower. The nearest technical support is seen at $18,640 and $18,563. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,226 WR2 - $18,987 WR1 - $18,829 Weekly Pivot - $18,742 WS1 - $18,587 WS2 - $18,500 WS3 - $18,259 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 08:00 2022-09-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294544
RBA Pauses Rates as Australian Dollar Slides; ISM Manufacturing PMI in Focus

Powell Touched On The Topic Of The Digital Dollar And The Crypto Industry

InstaForex Analysis InstaForex Analysis 28.09.2022 11:56
Yesterday, the next speech of the Chairman of the Federal Reserve System, Jerome Powell, took place. In his speech, he touched on the topic of cryptocurrencies and, in particular, decentralized finance (DeFi). Coincidence or not, bitcoin and ether reacted with a sharp decline to the statements, which led to the return of trading instruments to quite dangerous levels. But before we discuss the technical picture, let's deal with the statements. At a panel discussion on digital finance organized by the Bank of France, Federal Reserve Chairman Jerome Powell spoke about the planned regulation of decentralized finance. "The normalization of monetary policy worldwide is very important for the future. We must deal with structural problems in the Defi ecosystem and conflicts of interest." First, one of the most important problems that Powell drew attention to is the structure of transparency. "The good news is that, from the point of view of financial stability, the interaction between the Defi ecosystem, the traditional banking system, and the traditional financial system is not so great at the moment. The recent sharp collapse of DeFi has not significantly impacted the banking system and financial stability in general," Powell said. According to the official, it is necessary to do a lot of work with regulations, but it should be done carefully and thoughtfully. The Chairman of the Federal Reserve System warned that the uncontrolled situation in the crypto industry would not continue indefinitely. There is now a real need for more substantive regulation so that as Defi expands again and begins to cover more and more retail customers, there will be appropriate regulation. It is worth noting that Christine Lagarde, President of the European Central Bank, and Agustin Carstens, Director General of the Bank for International Settlements, also participated in the discussion. The head of the Fed also noted the risk of using stablecoins in a broader sense and the need to develop legislation in this direction. Powell also touched on the topic of the digital dollar, saying that it will take several more years of research before the Fed decides to issue it or not. As for today's technical picture of bitcoin, as I noted above, the failure of the trading instrument and the return to the framework of the side channel took place quite quickly. This indicates that investors have no interest in risks. The focus is now on the $19,000 resistance, the return of which is necessary to build a new upward correction in the pair. In the case of a breakthrough in this area, you can see a dash up to $19,520 and into the $20,000 area. To build a larger upward trend, you need to break above the resistances: $20,540 and $21,410. If the pressure on bitcoin increases, and all the prerequisites for this, the bulls should make every effort to protect the support of $18,625, just above which trading is now underway. Its breakdown will quickly push the trading instrument back to the lower border of the $18,100 side channel and pave the way for an update of the $17,580 level. Ether has again failed to reach the significant support of $ 1,275, and now there is a risk of building a new bear market. A breakdown of $1,275 can lead to significant changes in the market. Only a fix above $1,343 will somehow calm the situation and return the balance to the ether. Consolidation above $1,343 will stabilize the market direction and push the ether to another correction in the area of $1,402 and $1,457. The further targets will be the areas: $1,504 and $1,550. If the pressure on the trading instrument remains and at the breakdown of $1,275, we can see a new movement of the trading instrument down to the support of $1,210. Its breakdown will push the ether to $ 1,150, where major players will manifest themselves in the market again.   Relevance up to 10:00 2022-09-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322886
LFG Has Not Created Any New Wallets| Do Kwon On The Interpol Wanted List

LFG Has Not Created Any New Wallets| Do Kwon On The Interpol Wanted List

InstaForex Analysis InstaForex Analysis 28.09.2022 12:11
While bitcoin and ether are rapidly falling and returning to their annual lows to break through and collapse even lower, South Korean prosecutors are trying to freeze 3,313 bitcoins on two cryptocurrency exchanges, allegedly associated with the founder of Luna, Do Kwon. The coins were moved shortly after a South Korean court issued an arrest warrant for the Terraform Labs co-founder. It is reported that the South Korean authorities have asked several cryptocurrency exchanges to freeze 3,313 bitcoins allegedly associated with the co-founder of Terraform Labs. The coins were transferred to trading platforms shortly after a warrant for Kwon's arrest was issued in South Korea. Yesterday, a representative of the Prosecutor's Office of the Southern District of Seoul said they have evidence that 3,313 BTC belongs to Kwon. The coins were transferred to trading platforms from a wallet allegedly linked to the Luna Foundation Guard (LFG), which was created on September 15. Cryptoquant, the company that handled the investigation, said that the new bitcoin addresses belong to LFG. This conclusion was made based on transaction patterns, related flows, and significant non-public information. By yesterday evening, the Luna foundation rejected the involvement of this cryptocurrency. On Twitter, the company published the bitcoin address of its wallet, adding that LFG has not created any new wallets and has not moved BTC or other tokens that it owns since May 2022. Meanwhile, the location of the founder of Luna is unknown, and he no longer gets in touch. He was believed to be in Singapore, but earlier this month, Singapore police said he was currently out of town. Back on Monday, Kwon tweeted that he was not on the run. Let me remind you that on September 14, a South Korean court issued an arrest warrant for Kwon. He is accused of fraud after the collapse of the Luna cryptocurrency. In addition, it is reported that the Ministry of Foreign Affairs of the country plans to cancel his passport. Yesterday it became known that Interpol had put the co-founder of Terraform Labs, Do Kwon, on the wanted list. The "red notice" that has been issued allows South Korea to receive assistance from law enforcement agencies around the world in finding and arresting a person awaiting extradition, extradition, or similar judicial action. As for today's technical picture of bitcoin, as I noted above, the failure of the trading instrument and the return to the framework of the side channel took place quite quickly. This indicates that investors have no interest in risks. The focus is now on the $19,000 resistance, the return of which is necessary to build a new upward correction in the pair. In the case of a breakthrough in this area, you can see a dash up to $19,520 and into the $20,000 area. To build a larger uptrend, you need to break above the resistances: $20,540 and $21,410. If the pressure on bitcoin increases and all the prerequisites for this, the bulls should make every effort to protect the support of $18,625, just above which trading is now underway. Its breakdown will quickly push the trading instrument back to the lower border of the $18,100 side channel and pave the way for an update of the $17,580 level. Ether has again failed to reach the significant support of $ 1,275, and now there is a risk of building a new bear market. A breakdown of $1,275 can lead to significant changes in the market. Only a fix above $1,343 will somehow calm the situation and return the balance to the ether. Consolidation above $1,343 will stabilize the market direction and push the ether to another correction in the area of $1,402 and $1,457. The further targets will be the areas: $1,504 and $1,550. If the pressure on the trading instrument remains and at the breakdown of $1,275, we can see a new movement of the trading instrument down to the support of $1,210. Its breakdown will push the ether to $ 1,150, where major players will manifest themselves in the market again.   Relevance up to 10:00 2022-09-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322892
ECB's Dovish Shift: Markets Anticipate Softer Policy Guidance

Bitcoin: Tuesday Has Seemed To Look Quite Promising For BTC/USD, But...

Craig Erlam Craig Erlam 28.09.2022 13:09
It would appear we’re in for another day of risk-off trade, with parts of Asia recording heavy losses and Europe opening on the backfoot. Fear of tightening-induced recessions has wiped out the recovery we saw in stock markets over the bulk of the summer as investors were once again burned by an over-eagerness to catch the bottom in the market despite there being little evidence of it being justified. Read next: Women Are Important In The Country's Economy| The Influence Of Religion On Capital| FXMAG.COM That fear has now gripped the markets and we may see a little more caution going forward as the Fed has made clear that one inflation reading doesn’t make a trend and it will take a lot more than that to convince it that it can afford to ease off the brake. Other central banks may have a lot more work to do; one in particular springs to mind, thanks to the misguided direction the government is taking the country in. IMF adds to scathing attacks on UK mini-budget The negative response to the UK’s “mini-budget” has continued with the IMF adding their voice to the chorus of scathing attacks on the country’s fiscal plans. It appears everyone is unusually united in their objection to the Treasuries tax-cutting plans at a time when inflation is almost 10% and rising. The IMF was particularly forthright in its criticism of the debt-funded and untargeted measures, urging the government to re-evaluate during the budget event in November as current measures simply increased inequality. Moody’s was equally scathing warning that the measures are a credit negative that could threaten the country’s credibility with investors and more permanently weaken the UK’s debt affordability. It’s no surprise then to see sterling plummet once more alongside Kwasi Kwarteng and Liz Truss’ credibility on the world stage. Not the best start to life in Downing Street. ​ BoJ not ready to tighten despite weak yen The BoJ minutes showed little inclination among board members to change course despite ongoing pressure on the currency and core inflation that is currently above target. The belief remains that temporary commodity inflation is responsible and therefore not sustainable although board members did acknowledge that they see price increases broadening with one even suggesting there’s a stronger chance of sustained inflation backed by higher wages. A small step in the right direction but a step at least. Of course, it’s not one that changes the near-term outlook for Japanese monetary policy and so the pressure will remain on the yen as long as the dollar remains king. Bitcoin’s show of resilience was short-lived Bitcoin was showing remarkable resilience at one point on Tuesday, trading more than 5% higher and comfortably outperforming the broader market in a manner that was very impressive. Unfortunately, it didn’t last long and actually ended the day in negative territory before slipping another 2% this morning. On the one hand, the risk environment is very unfavourable but we are seeing substantial support around $17,500-18,500. If that can hold, the rebound could be strong. The question is how long can it hold out if risk assets continue to head lower. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. No letting up - MarketPulseMarketPulse
Bitcoin Is Showing The Potential For The Further Downside Rotation

Bitcoin Remains Vulnerable To More Downside

InstaForex Analysis InstaForex Analysis 28.09.2022 14:14
Blue line -resistance Blue rectangle- support (broken) Red lines- Fibonacci retracements Bitcoin is back again below $20,000. Price bounced higher above short-term resistance the previous days but got rejected at the 50% Fibonacci retracement of the latest decline. Price has now broken again below the horizontal support of $19,500. As long as Bitcoin remains below the blue downward sloping trend line, it will remain vulnerable to more downside. The rejection at the 50% retracement and the sharp decline below the horizontal support, is a sign of weakness. Medium-term trend remains bearish. Bulls need to push above recent high but most importantly above the blue trend line resistance. Until then we remain bearish.   Relevance up to 13:00 2022-09-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294642
Cryptocurrency: The end of crypto exchange Voyager journey?

The Red Note And Frozen Bitcoins| The BTC/USD Pair Has Bounced again

InstaForex Analysis InstaForex Analysis 29.09.2022 09:45
Crypto Industry News: According to recent reports, South Korean authorities have ordered the OKX and KuCoin cryptocurrency exchanges to freeze funds associated with Terra's founder, Do Kwon. In total, the platforms froze over 5,000 BTC, which is around $ 60 million at the current market price of bitcoin. South Korean authorities have launched an investigation against the founder of Terry (LUNA) and the company behind the cryptocurrency, Terraform Labs, the website said. The country's services concluded that Do Kwon allegedly violated domestic securities laws and issued an arrest warrant for him. The International Criminal Police Organization (Interpol) joined the efforts of the South Korean authorities and issued the so-called The Red Note, Kwon's actual arrest warrant. Interestingly, however, the most interested himself denies that he is hiding at all. "I am writing the code in my living room (...). As I said, I do not try to hide, I go for walks and shopping malls, there is no way that any [members of] CT have run into me in the last few weeks" - he wrote on Twitter. Now law enforcement has begun seizing Kwon's financial resources. According to media reports, founder Terry started transferring funds related to the Luna Foundation Guard (LFG) from the wallet to the exchanges. LFG is an entity created by Terraform Labs to protect the course of the fallen algorithmic stablecoin, TerraUSD (UST). These funds were allegedly community controlled, with no control from Kwon or other company employees. However, a journalistic report suggests the funds were transferred from the wallet to the stock exchanges between September 15 and 18. Around 3,300 BTC went to KuCoin and around 1,950 to OKX. The funds in bitcoin were sent in a few transactions. Technical Market Outlook: The BTC/USD pair has bounced again from the narrow zone lows around the level of $18,640 towards the middle of the zone. Only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, however after the Bearish Engulfing candlestick pattern was made at the level of $20,374, the odds for a breakout higher are very low. The market conditions on the H4 time frame are positive, but the momentum is not strong at all. The nearest technical support is seen at $19,096 and $19,256. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,226 WR2 - $18,987 WR1 - $18,829 Weekly Pivot - $18,742 WS1 - $18,587 WS2 - $18,500 WS3 - $18,259 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 09:00 2022-09-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294767
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Cryptocurrency Market: More BTC/GBP Trading! Central Bankers Talk DeFi Regulations

Alex Kuptsikevich Alex Kuptsikevich 29.09.2022 10:08
Bitcoin Benefits From Changing Risk Apetite Bitcoin is up 3.1% over the past 24 hours, trading around $19,400. After a downward momentum early in the day, the first cryptocurrency received some support thanks to a recovery in risk appetite. Ethereum is gaining 3.5% overnight to $1330, with the top cryptocurrencies ranging from +0.5% (Cardano) to +4.7% (BNB). Overall, total crypto capitalisation rose 2.2% to $937B overnight, according to CoinMarketCap. People In The UK Buy Bitcoin CoinShares said UK investors are buying Bitcoin amid the Pound's collapse this week, as we see with rising BTC/GBP trading volumes. The momentum in the first and second half of the day has balanced each other out. As a result, Bitcoin has been moving sideways for the last ten days - without a clear trend and in a narrow range. This "dangling at the bottom" indicates Bitcoin accumulates in the area just below 20K. For now, the long-term pattern remains that the first cryptocurrency is attracting buyers on the decline from the previous cyclical peak. IMF Comments On Proof-of-Stake In an online discussion organised by the Bank of France, the heads of the world's leading central banks called for increased regulation of the decentralised finance (DeFi) sector justified against the backdrop of its development. Australia's central bank has announced the launch of a Digital Central Bank Currency (CBDC) by mid-2023. Fed chairman Jerome Powell said the Fed has not yet decided on the digital dollar (CBDC) promotion. Cardano founder Charles Hoskinson said he would never support a government-owned digital currency that violates the privacy of its owner. The IMF said that the Proof-of-Stake (PoS) consensus algorithm could lead to excessive concentration of control at cryptocurrencies and custodial service providers with risks to the integrity of markets.
In The Coming Days Will Be The Final Consolidation Of Bitcoin

What Kind Of Further Direction Of Bitcoin Can Be?

InstaForex Analysis InstaForex Analysis 29.09.2022 11:00
Technical analysis: BTC has been trading sideways at the price of $19.310. Anyway, watch for potential rejection or breakout of the key support at $19.240 to confirm further direction. Trading recommendation: In case of the downside breakout of support at $19.240, watch for selling opportunities on the intraday rallies with the downside objective at the price of $18.620 In case of the rejection of support at $19.240, watch for the buying opportunities and upside objective at the price of $19.750.     Relevance up to 09:00 2022-09-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294791
Bitcoin Is Showing The Potential For The Further Downside Rotation

The Current Situation Around Bitcoin Is Completely Tied To The SPX Movement

InstaForex Analysis InstaForex Analysis 29.09.2022 12:16
There is a gradual redistribution of capital in the global financial markets. The cryptocurrency market is attracting more and more attention from investors all over the world due to the worsening overall economic situation. Aggressive rate hikes by the central banks are rolling around the world, which leads to a lack of liquidity. At the initial stage of this process, high-risk assets and Bitcoin were the losers, but the situation is starting to change. Economic factors UK banks stopped issuing mortgage loans, which caused a negative reaction of the markets at the moment. It also led to the continuation of the upward trend of government bonds and had a negative impact on US government bonds. Stock indices and Bitcoin continued to decline as the policy of the UK central bank led to an increase in DXY. However, analyst James Butterfill later noted the growing trading volumes of BTC/GBP. The indicator reached the level of $881 million with average values around $70 million. There is a growing investor demand for Bitcoin amid unabated inflation and the onset of a recession. Santiment experts confirm a general increase in trading activity in the cryptocurrency market. Bitcoin trading volumes also reached their highest level since June 14, indicating some changes in the market and the emergence of a serious buyer. DXY&SPX At the same time, the crypto market is waiting for the start of a correction in the US dollar index, which should provoke a rally in Bitcoin and other digital assets. As a result of September 28, DXY formed a bearish engulfing, but technical metrics point to a resumption of bullish momentum. The S&P 500 managed to form a bullish engulfing pattern on September 28, which directly indicates an inverse correlation with the DXY. Technical indicators of the stock index signal the beginning of an upward movement of the indicator. However, given the similar signals on the DXY, one cannot be completely sure about the upward movement of the SPX price. BTC/USD Technical analysis Bitcoin continues to move within the $18.5k–$20.5k range. The cryptocurrency shows impulse attempts to go beyond this range in order to resume movement in a wider area. Technical metrics remain weak and indicate a flat price movement. The current situation around Bitcoin is completely tied to the SPX movement and the situation with US and UK government bonds . The cryptocurrency is still pulling towards the $20k mark, but there are no clear signals to play short or long. The $18.5k–$20.4k range is a raging storm, so we can expect movement in either direction. If the $20.4k level is broken, the path to the $22.8k–$23k range will open for Bitcoin. However, for now, this scenario is unlikely, as SPX buyout volumes remain low, and therefore the movement of the cryptocurrency will be constrained by the stock index. Conclusions Bitcoin and the cryptocurrency market are actively reacting to world events. The situation with UK banks is a clear proof of this. In the near future, we should expect an improvement in the overall situation for digital assets due to the correction of DXY and the aggravation of recession processes. Markets are reaching dangerous levels when rates are raised to record highs, but inflation continues to rage. The case with BTC/GBP trading volumes could be a prelude to a massive flow of capital into cryptocurrencies. However, this process will take time and will not be completed in the coming weeks.   Relevance up to 10:00 2022-09-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/323016
In The Coming Days Will Be The Final Consolidation Of Bitcoin

The Fed Is Considering A Virtual Dollar (CBDC) And The Downward Trend Remains In The Bitcoin

InstaForex Analysis InstaForex Analysis 30.09.2022 08:49
Crypto Industry News: Federal Reserve Chairman Jerome Powell presented the latest information on the central bank's work on the digital dollar during a panel discussion on digital finance hosted by the Banque of France: "US cash is not going away. We still use it quite a bit, "he said. Powell explained that the Federal Reserve is looking very closely at the "potential costs and benefits" of issuing central bank digital currency (CBDC) in the US. "We are watching it very carefully. We assess both political and technological issues, and we do it very broadly," he explained. The Fed chairman added that he planned to cooperate with Congress, but also with the executive branch, which would bring expert knowledge on many issues. "Ultimately, we will need approval from both the executive and Congress to introduce the digital currency of the central bank. [...] We see this as a process that will last at least several years, in which we will do the work and build public confidence in our analysis and final conclusion. "- added. Technical Market Outlook: The BTC/USD pair has been seen consolidating again inside a narrow consolidation zone. Only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, however after the Bearish Engulfing candlestick pattern was made at the level of $20,374, the odds for a breakout higher are very low. The market conditions on the H4 time frame are positive, but the momentum is not strong at all. The nearest technical support is seen at $19,096 and $19,256. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,226 WR2 - $18,987 WR1 - $18,829 Weekly Pivot - $18,742 WS1 - $18,587 WS2 - $18,500 WS3 - $18,259 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 08:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294957
The Bitcoin Fall Will Likely Continue In The Future

The Main Cryptocurrency (Bitcoin) Has A Potential Breakout

InstaForex Analysis InstaForex Analysis 30.09.2022 10:13
Technical analysis: BTC has been trading sideways at the price of $19.580 and I can see that triangle pattern is in creation. Trading recommendation: Due to the sideways condition and triangle in creation, watch for potential breakout to confirm further direction. In case of the breakout of the resistance level at $19.700, watch for the buying opportunities on the intraday dips with the upside objective at $20.270 In case of the downside breakout of the triangle pattern, watch for selling opportunities with the downside objective at the price of $18.900 Relevance up to 09:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294987
What Should We Expect From The Bitcoin Formation In The Near Future?

Cryptocurrency: Bitcoin Close To $19.5K, BitMex CEO Comments On Institutional Investors And Their Interest In Crypto

Alex Kuptsikevich Alex Kuptsikevich 30.09.2022 10:38
Bitcoin's Performance On Friday's Morning Bitcoin has remained in position for the past few days, trading at $19,500 on Friday morning. As in previous days, the attempt to sell the cryptocurrency following the stock market was met with buying. This neat bottom-drawing by Bitcoin could show a wait-and-see stance and consolidation before the next move. However, crypto optimists are now siding with the positive momentum in gold and sector stocks. Investors have probably recalled them as a store of value amid the volatility in the currency market. Read next: Tim Moe (Goldman Sachs) Comments On USD And Turbulent Times For Markets In General, Ole Hansen (Saxo)Talks Nord Stream | FXMAG.COM Among the closest key levels, the $20.8K where the 50-day moving average is located is worth mentioning. It has been playing an active role as resistance for more than a month. Local support is near $18.8K. A move outside this range could signal the end of the current consolidation. Institutional Investors Still Interested In Cryptocurrency Market Billionaire Stanley Druckenmiller expects the US economy to deteriorate significantly by the end of next year. That's when cryptocurrencies could make a resurgence. Alexander Hoptner, CEO of cryptocurrency exchange BitMEX, said he does not see any decline in institutional investor interest in the crypto industry, despite the bearish trend. Lastly, BlackRock has launched on Euronext, an exchange-traded fund (ETF) focusing on blockchain and cryptocurrency companies.
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

On The Daily Chart Of BTC/USD, There Is A Consolidation

InstaForex Analysis InstaForex Analysis 30.09.2022 13:20
Separation is an unpleasant thing, but it happens from time to time. In the second half of September, bitcoin stopped being led by the US stock market. The leader of the cryptocurrency sector is trading near the psychologically important mark of 20,000, despite the rampant fall in US stock indices, due to the aggressive monetary restriction of the Fed. If the S&P 500 was scared by the intention of the central bank to raise the federal funds rate to 4.25–4.5% this year, then BTCUSD is in no hurry to fall. 20,000 for one coin is an important mark not only in terms of price, but also in terms of capitalization. The market value of cryptocurrencies is currently estimated at $1 trillion. This is $2 trillion less than at the peak of BTCUSD in November 2021. And although the token has since sank by 70%, and the S&P 500 by only 22%, in September, the situation changed. Stock indices are falling on fears that an overly aggressive tightening of the Fed's monetary policy will cause a recession in the US economy. At the same time, the stock market has not yet fully taken into account the risks of a downturn, as evidenced by the VIX fear index. The volatility of equity securities is currently substantially lower than that of debt securities. They most likely have somewhere to fall. Dynamics of volatility of the US stock and bond markets Is there a place for bitcoin to fall? Big question. Unlike trading in the US financial market, no additional margin is required to hold losing positions in cryptocurrencies. You can hold them for as long as you like, with the expectation that, eventually, the price will still rise and take you out of losses. Such stubborn holders are called hodlers, and their number is currently growing. This is a distinctive feature of crypto winter 2022. During the previous periods of BTCUSD falls, everything was different. Strong non-sell hands keep the token from falling too low. Of course, everything can change if bitcoin rewrites the June lows, but until this happens, you can talk about the ability of the cryptocurrency leader to find the bottom. Note that the external background for bitcoin as a representative of risky assets remains extremely unfavorable. FOMC officials are openly talking about their readiness to raise the federal funds rate to 5% in 2023. This will certainly allow Treasury yields to restore the upward trend after the correction associated with the intervention of the Bank of England in the life of the debt markets. The higher bond rates rise, the worse it is for stocks and all earning assets. Bitcoin is no exception. Technically, on the daily chart of BTCUSD, there is a consolidation within the medium-term downward trend. A series of rising highs and lows indicates a serious struggle for the initiative between the "bulls" and "bears" and contributes to forming the Broadening Wedge reversal pattern. The conservative strategy is to buy the peak at 22,800. A more aggressive approach involves opening long positions on a breakout of the fair value at 19,900.   Relevance up to 10:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/323134
Inflation Rising Again In The Eurozone, Positive GDP In The Great Britain

Inflation Rising Again In The Eurozone, Positive GDP In The Great Britain

Craig Erlam Craig Erlam 30.09.2022 14:17
Stock markets are bouncing back on Friday, although I don’t think anyone is getting excited by the moves which pale in comparison to the losses that preceded them. This looks like nothing more than a dead cat bounce after a steep decline over the last couple of weeks as investors have been forced to once again accept that interest rates are going to rise further and faster than hoped. Double-digit eurozone inflation Inflation in the eurozone hit 10% in September ahead of schedule, with markets expecting a jump to 9.7% from 9.1% in August. In normal circumstances that may have triggered a reaction but these are anything but normal. Markets are still pricing in a more than 70% chance of a 75 basis point rate hike from the ECB next month with an outside chance of 1%. The euro is slightly lower following the release which also showed core inflation rising a little higher than expected to 4.8%. Sterling recovers as the UK is revised out of a potential recession We’re seeing the third day of gains for the pound which has now recovered the bulk of the losses sustained after the “mini-budget” a week ago. This is not a sign of investors coming around the new Chancellor’s unfunded tax-cutting, but rather a reflection of the work done since to calm the market reaction. That includes the emergency intervention from the BoE, talk of measures to balance the cost of the tax cuts, reported discussions with the OBR and rumoured unrest within the Tory party. We’ll have to see what that amounts to and sterling could certainly react negatively again to inaction or the wrong action. GDP data this morning brought some good news, although as far as positive updates go, this is surely towards the more insignificant end. The UK is not in recession after the second quarter GDP was revised up from -0.1% to +0.2%. While all positive revisions are welcome, the technical recession wasn’t really significant in the first place. The important thing was that the UK is struggling to grow and facing a probable deeper recession down the road and today’s revision doesn’t change that. ​ Disappointing Chinese surveys China’s PMIs highlighted the widening gulf between the performance of state-owned firms versus their private competition. It goes without saying that being backed by the state in uncertain times like this carries certain advantages and that has been evident for some time. Private firms have been more sensitive to Covid restrictions and have therefore been heavily hampered this year. Still, even with those state-backed benefits, the headline PMI was far from encouraging rising to 50.1 and barely in growth territory. With the non-manufacturing PMI also slipping from 52.6 to 50.6, it’s clear that the economy still faces enormous headwinds and the global economy stalling around it will only add to them. BoJ ramps up bond purchases amid higher yields The Bank of Japan ramped up bond purchases overnight as it continues to defend its yield curve control thresholds in volatile market conditions. Rising global yields have forced the central bank to repeatedly purchase JGBs in order to maintain its target. There has been a growing expectation that the BoJ could tweak its 0% target or widen the band it allows fluctuations between in order to ease the pressure on the currency but that’s not been forthcoming, with the MoF instead intervening in the markets for the first time since 1998. The intervention doom loop continues. RBI rate hike and credit line The Reserve Bank of India hiked the repo rate by 50bps to 5.9% on Friday, in what will likely be one of its final tightening measures in the fight against inflation. The decision was widely expected and followed shortly after by guidance to state-run refiners to reduce dollar buying in spot markets through the use of a $9 billion credit line. The strength of the dollar is posing a risk to countries around the world, as we’ve seen very clearly in recent weeks as mentioned above, and measures like this will seek to alleviate those pressures. Much more will be needed to make any significant difference though. A period of stability is what bitcoin needs It’s been a very choppy week in bitcoin which has failed to make a sustainable run in either direction despite attempts at both. Perhaps we are seeing a floor forming a little shy of the early summer lows around $17,500, although that will very much depend on risk appetite not plummeting once more which it very much has the potential to do. I keep using the word resilience when discussing bitcoin and that has very much remained the case. It did also struggle to build on the rally earlier this week, even hold it into the end of the day, so perhaps a period of stability is what it needs. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Bitcoin Maintains A Steady Bullish Potential

What Potential Could Be In Bitcoin Movements If BTC/USD Has Been Rrading Sideways?

InstaForex Analysis InstaForex Analysis 03.10.2022 09:13
Technical analysis: BTC/USD has been trading sideways at the price of $19.200. I see triangle pattern in creation and potential for the breakout mode. Trading recommendation: Due to the sideways condition and triangle pattern in creation, I see potential for the breakout mode. In case of the breakout of the resistance at the price of $20.170, watch for buying opportunities with the upside objective at the price of $22.400 In case of the downside breakout of the support at the price of $18.850, watch for selling opportunities with the downside objective at the price of $18.000   Relevance up to 08:00 2022-10-04 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295147
Why India Leads the Way in Economic Growth Amid Global Slowdown

The GBP/USD Pair Gained Bullish Pace, September PMI Indices And Continued Volatility In The Markets

TeleTrade Comments TeleTrade Comments 03.10.2022 10:10
Here is what you need to know on Monday, October 3: Markets stayed relatively quiet during the Asian trading hours on Monday but volatility picked up in the early European morning. Political developments in the UK are watched closely by market participants ahead of S&P Global's final September PMIs for Germany, the euro area, the UK and Canada. The US economic docket will feature the ISM September Manufacturing PMI later in the day. Several FOMC policymakers, including Kansas City Fed President Esther George and New York Fed President John Williams, will also be delivering speeches in the second half of the day. After having registered modest gains on Friday, the US Dollar Index turned south and broke below 112.00. US Stock index futures are trading mixed in the European session and the benchmark 10-year US Treasury bond yield loses over 1% below 3.8%.  During the Asian trading hours, the data from Japan showed that the Tankan Large Manufacturing Index declined to 8 in Q3, missing the market expectation of 11. On a positive note, the Non-Manufacturing Index edged higher to 14 in the same period from 13. Meanwhile, Japanese Finance Minister Shunichi Suzuki reiterated that they continue to watch FX moves with a strong sense of urgency. USD/JPY showed no reaction to Suzuki's comments or the data releases and it was last seen moving sideways slightly below 115.00. GBP/USD gathered bullish momentum and jumped to its highest level in over a week near 1.1300. Reports suggesting that the UK government is expected to roll back the proposed scrapping of the higher rate of income tax helped the British pound gather strength. British Finance Minister Kwasi Kwarteng confirmed these reports by announcing that the government will not go ahead with a plan to scrap a 45% rate of income tax. Following the initial bullish reaction, the pair returned to the 1.1200 area, where it was up around 0.3% on the day. EUR/USD is having a difficult time making a decisive move in either direction and trading in a narrow range near 0.9800.  Gold snapped a two-week losing streak on Friday and edged higher toward $1,670 early Monday. Although XAU/USD returned to the $1,660 area in the European morning, it managed to hold its ground amid retreating US Treasury bond yields.  Bitcoin closed in negative territory on Saturday and Sunday but found support near $19,000. Ethereum fell nearly 4% over the weekend and dropped below $1,300 before staging a rebound early Monday. ETH/USD was last seen rising 1% on the day at $1,290.
Bitcoin Is Showing The Potential For The Further Downside Rotation

The Digital Trade Transparency Act of 2022| Bitcoin's Early Trend Continues

InstaForex Analysis InstaForex Analysis 03.10.2022 10:41
Crypto Industry News: US Senator Bill Hagerty, a member of the Senate Banking Committee, outlined legislation to provide a safe haven for cryptocurrency exchanges ahead of "certain" actions by the Securities and Exchange Commission (SEC). The Digital Trade Transparency Act of 2022, presented by Senator Hagerty, aims to provide regulatory clarity around two major issues plaguing crypto exchanges - the classification of digital assets and related liabilities under applicable securities laws. "The current lack of regulatory clarity for digital content gives entrepreneurs and businesses a choice: navigate significant regulatory ambiguity in the US or move overseas to markets with clear rules for digital content," he said. This regulatory uncertainty, according to Senator Hagerty, discourages investment in crypto spaces and hampers job creation in the US. As a result, the blockade "threatens US leadership in this transformative technology at such a pivotal moment." Technical Market Outlook: The BTC/USD pair has been seen moving lower over the weekend, but o a larger time frames the market is still consolidating inside a narrow zone. Only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, however after the Bearish Engulfing candlestick pattern was made at the level of $20,374, the odds for a breakout higher are very low. The market conditions on the H4 time frame are positive, but the momentum is not strong at all. The nearest technical support is seen at $19,096 and $19,256. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,869 WR2 - $19,490 WR1 - $19,335 Weekly Pivot - $19,190 WS1 - $18,955 WS2 - $18,731 WS3 - $18,351 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Relevance up to 10:00 2022-10-04 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295175
What Should We Expect From The Bitcoin Formation In The Near Future?

What Should We Expect From The Bitcoin Formation In The Near Future?

InstaForex Analysis InstaForex Analysis 03.10.2022 12:37
Bitcoin ended the third quarter in a row on a bearish note. The cryptocurrency spent most of the time in the $18.5k–$20.4k range. Rare moments of upward movement were inextricably linked with the behavior of macroeconomic factors. Bitcoin and October Historically, Bitcoin has been spending October positively. Analysts at Santiment have confirmed the presence of an upward trend in BTC trading volumes since mid-June. Interest in Bitcoin is growing despite the general decline in trading activity in the market. Most analysts tend to believe that the US dollar index will begin a correction in October. The asset reached the upper limit of the ascending channel and met a powerful resistance. Now the price of DXY will go to retest the lower border of the channel in the area of 98–100. Given the inverse correlation of Bitcoin and stock indices with DXY, we can expect a local thaw in the cryptocurrency market. And this completely fits into the historical context of BTC in October and the growing trading volumes. The other side of October However, there are several factors that can aggravate the current situation and negatively affect the prospects of Bitcoin. The Fed announced an emergency meeting on October 3. The announcement does not say for what purpose the meeting was convened, but it is likely that it is related to inflation. Given this, volatility may increase in the market. The second factor that can negatively affect the prospects for the upward movement of Bitcoin is the stock market. Cryptocurrencies have been closely correlated with stock indices throughout the crypto winter. Over the past two weeks, we have seen that this codependency has a negative impact on Bitcoin quotes. Bitcoin continues to fluctuate in a narrow range of $18.5k–$19.4k, despite attempts to break through these levels. The main problem with the cryptocurrency was that the trading volumes on the BTC network were not backed up by large purchases on the stock market. As a result, a situation has developed where Bitcoin is trying to realize bullish momentum, and the S&P 500 continues to decline and forms a double bottom. In this case, the correlation of BTC and SPX played a cruel joke and did not allow the cryptocurrency to climb to the $20k level. A similar situation should be expected in October, which has historically been a month of serious falls in the stock market. Given the current macroeconomic situation and a new round of nuclear escalation, there are plenty of triggers for a stock market crash. BTC/USD Technical analysis Bitcoin continues to move within a narrow range of $18.5k–$19.4k. The cryptocurrency has made several unsuccessful attempts to break out of the area and gain a foothold above $20k. The main limiting factor in the growth of BTC/USD quotes is the correlation with stock indices. On the daily chart, for the second week, a contraction has formed, which gradually turns into a "descending triangle" pattern. Despite the growth in trading volumes, hesitant doji candles continue to appear on the daily timeframe. Technical indicators hint at another attempt of an upward movement. The RSI index and the stochastic oscillator are acquiring an upward direction. However, one should not expect a significant change in the situation. MACD continues to move flat below zero, confirming the absence of a strong bullish momentum. Conclusions In the short term, we should expect the completion of the formation of the "triangle" figure and going beyond its limits. It could be argued that the direction of price movement will be downward, but given the growing volumes of BTC on exchanges and the DXY correction, a local price reversal is possible. In the long term, we should expect Bitcoin to go beyond the $18.5k–$19.4k range. A drop in demand for DXY will lead to an increase in high-risk assets. Therefore, we should expect BTC impulse movements above $20k in October.   Relevance up to 10:00 2022-10-04 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/323230
ByBit talks trading bots. What are they? How can they help?

How Have BTC And ETH Performed Recently? Cryptocurrencies: Market Cap Increased Slightly, Telekom And Telefonica "Flirting" With Digital Assets

Alex Kuptsikevich Alex Kuptsikevich 03.10.2022 09:29
Market picture Bitcoin is up 2.5% over the past seven days, trading at $19,300 on Monday morning. Ethereum added 0.2%, to $1300. Other leading altcoins in the top 10 have shown mixed dynamics, ranging from an 8% decline (XRP) to a 4% rise (BNB). Total cryptocurrency market capitalisation, according to CoinMarketCap, rose 0.5% over the week to $930bn. The cryptocurrency Fear & Greed Index is at 24 by Monday versus 21 a week earlier. Bitcoin was able to keep from falling last week despite notable declines in stock indices and a Fed rate hike but lacked the strength to rise. The first cryptocurrency's fluctuation waves are getting smaller and smaller, approaching ripple levels. In such a lull, significant order volumes tend to pull closer to the price, the triggering of which can break the current trend. The lower boundary of the indecision range remained at $18.8K. However, the upper bound has shifted to 20.3, where several local highs since September 14 and the 50-day moving average are concentrated. Bitcoin posted a moderate decline (-3.8%) in September, contrasted with a sharp fall of more than 9% in the S&P 500 Index. Unlike the stock index, BTC was able to hold its June lows. In terms of seasonality, October is considered one of the best months of the year. Bitcoin has ended this month up six times in the last seven years. The average growth over the previous 11 years has been 33%, and the average decline has been 15%.   News background According to Galaxy Digital CEO Mike Novogratz, bitcoin's resilience in September is since most sellers have left the crypto market, having sold off their assets. The ECB has published the first results of its Digital Euro Survey, which suggests that the broadest use of CBDC will be in the retail sector. German telecoms giant Deutsche Telekom launched its Ethereum transaction validation node to support stacking on the second cryptocurrency's network. Spain's largest telecommunications company Telefonica has allowed customers of its online shop to pay for purchases with digital assets. BlackRock has applied to launch an exchange-traded fund (ETF) for metaverse-related companies.
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Kiyosaki's Support For Uncontrolled Bitcoin By The Fed Continues

InstaForex Analysis InstaForex Analysis 04.10.2022 09:52
Crypto Industry News: "Buy more Bitcoin, gold and silver," calls known from numerous publications, especially the famous bestseller "Rich Dad, Poor Dad" author and investor Robert Kiyosaki. In one of his last tweets, he spoke about the upcoming investment opportunity. In his opinion, if the FED does not change the current rate and continues to raise interest rates, and thus - strengthens the position of the US dollar - it will be a great opportunity to take advantage of the promotion on Bitcoin, gold and silver. Kiyosaki ensures that anyone who buys more Bitcoin, gold and silver will enjoy solid profits in the moment that must come sometime, such as a 180-degree change in FED policy, i.e. lowering interest rates. According to Robert, this could happen as early as January 2023 - then the US dollar could "crash (against the rocks)", as was the case with the British pound. As of May 2020, Kiyosaki has been systematically expressing his enthusiasm for assets that are not directly managed by the U.S. Federal Reserve Bank. Interestingly, his support for the uncontrolled Bitcoin by the Fed continues despite the fact that he still considers it an asset "of no real value." Technical Market Outlook: The BTC/USD pair has been seen moving up after the successful test of the local short-term trend line dynamic support around $18,980. Only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, however after the Bearish Engulfing candlestick pattern was made at the level of $20,374, the odds for a breakout higher are very low. The market conditions on the H4 time frame are positive, momentum is strong and well above the level of fifty. The nearest technical support is seen at $19,096 and $19,256. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,869 WR2 - $19,490 WR1 - $19,335 Weekly Pivot - $19,190 WS1 - $18,955 WS2 - $18,731 WS3 - $18,351 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 09:00 2022-10-05 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295320
Ethereum Market Is Showing Bullish Signals

Ethereum Market Is Showing Bullish Signals

InstaForex Analysis InstaForex Analysis 04.10.2022 13:32
The situation in the crypto market has been difficult since the end of August. However, there are more and more reasons to expect a local upward trend in cryptocurrencies on the market. And there is no doubt that ETH will be one of the main beneficiaries of the bullish move. The main reason for the likely upward movement of the crypto market is the start of a protracted correction of the US dollar index. In addition, there were rumors on the financial markets about a possible curtailment of the Fed's aggressive policy. Market players attribute this to the European crisis and the bankruptcy of Credit Suisse. If the combination of these factors works, then the cryptocurrency and Ethereum market is waiting for a local upward trend and a gradual fading of the liquidity crisis. For the main altcoin, this is especially good in light of recent negative events. Negative background around Ethereum Recently, an article was released where the future of Ethereum is being questioned after the Merge update. The authors believe that the growing number of competitors and the parallel increase in the number of ETH fork are diverting significant investment from the altcoin. After the merge, the centralization of Ethereum and the percentage of transaction censorship also increased. Due to the decrease in trading activity, the deflationary mechanism of ETH also does not work properly. All this leads to a decrease in investment in the main altcoin and its gradual extinction. There is some truth in the study, but it is incorrect to say that ETH has reached its peak and is moving to the bottom. Even aside from the liquidity issues due to the crypto winter, there are other factors pointing to Ethereum's potential. The Merge update was only 55% complete and there are several important updates ahead of the altcoin before all the algorithms work as they should. ETH/USD Analysis In addition, the approaching bullish momentum will show how Ethereum is ready for growth. Over the past day, the asset has risen in price by 4% and as of October 4, the altcoin is trading around $1,350. The coin managed to gain a foothold above $1,320, which allowed it to build on the bullish success. In the next two days, ETH/USD will begin to consolidate above the $1,350 level for further movement towards $1,430. Most likely, there will be a local rebound here due to high sales volumes. Everything will depend on the trading activity in the asset network and its dynamics in the coming days. Ethereum on-chain activity showed a powerful surge following the results of yesterday's trading day. As of October 4, address activity and transaction volumes are below average. At the same time, technical metrics continue to grow, which indicates a dangerous divergence for growth. While the on-chain numbers are declining, the RSI and stochastic on the daily timeframe maintain a strong upward trend. If on-chain metrics do not show a growing interest in Ethereum after the opening of the US markets, then the growth of ETH will be unjustified. It is also important to note that a "triangle" pattern is forming on the daily chart. In a bearish scenario, a breakout of the pattern will bring the price down to the $1,2000–$1,250 area. If buying activity recovers to yesterday's volumes, the price will continue to move towards $1,430. Conclusions Ethereum is showing bullish signals that do not correlate with buying activity. This is fraught with a further decline and a retest of $1,200. At the same time, the general situation is conducive to growth, therefore, even in the event of a local price drop, ETH will resume bullish movement at least to the range of $1,530–$1,670.   Relevance up to 09:00 2022-10-05 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/323338
Cryptocurrency Market: Wow! Ethereum's The Merge Make The Network Use 99.95% Less Power!

Cryptocurrencies: More Bitcoin Investments, Over 10 Thousands Crypto Are "Zombies"

Alex Kuptsikevich Alex Kuptsikevich 04.10.2022 09:09
Bitcoin And Ethereum Bitcoin has gained 2.8% over the past 24 hours to $19750 but remains broadly zen. Against the backdrop of falling equity markets, the first cryptocurrency's balanced moves looked like a sign of domestic strength. But yesterday, the equity market marked a sharper rise than cryptocurrencies. Bitcoin is one move away from the top end of its trading range ($20300). But only a solid consolidation above this boundary should be considered a meaningful bullish signal. Ethereum is lying at its 200-week moving average for the third week. Perhaps the entire crypto market lacks an important external driver to switch to growth, although no meaningful decline exists. Crypto Zombies According to CoinShares, investments in cryptocurrencies increased by $10 million last week. The figure rose for the third week in a row, but the scale of investment indicates continued indecision. Bitcoin investments rose by $8m, Ethereum by $6m, and investments to short bitcoin rose by $2m.   According to CryptoQuant, bitcoin outflows from cryptocurrency exchanges have recently intensified, which could be seen as a bullish signal. US Senator Cynthia Lummis has expressed concerns about the national debt and rising inflation in the US. In her view, citizens should invest in bitcoin to preserve their funds. According to Nomics, some 12,100 cryptocurrencies have effectively stopped trading this year, turning into "zombies". Technically, the coins exist but have not shown trading volumes for at least a month.
Technical Outlook Of The Further Movement Of Bitcoin

Attempts To Reduce The Carbon Footprint Of Bitcoin

InstaForex Analysis InstaForex Analysis 05.10.2022 09:40
Crypto Industry News: Miners involved in bitcoin (BTC) mining have for years struggled with criticism related to high energy consumption, which translates into the environment. In search of solutions to the high energy demand for cryptocurrency mining, some countries have attempted to balance the amount, but still allow miners to run their current activities. To this end, the Argentine state-owned company - YPF - decided to supply unused gas to an international mining company, the media reported. . Martin Mandarano, CEO of YPF Luz, the YPF's renewable energy division, announced that a one-megawatt pilot project was launched in the south of Argentina three months ago. Its purpose was to provide energy generated from waste gases left over from oil extraction. Mandarano also mentioned that the company is working on another much larger - eight MW - pilot project. He announced his start at the end of the year. YPF Luz CEO said: "We started to develop this generation pilot program to mine cryptocurrency with a vision for sustainability and business based on natural gas from a flare that cannot be used during the exploration and early exploitation of an oil field. Attempts to Reduce the Carbon Footprint of BTC ". Another example of efforts to reduce the carbon footprint of bitcoin mining is the Lumos Digital Mining mining pool operating in South Australia. It is trying to mine the first cryptocurrency using solar energy. The mine is thus trying to become the first energy supplier of this type in the region. It currently provides around five megawatts of electricity to minimize bitcoin's carbon footprint. Similarly, in western Colorado, Aspen Creek Digital has started operating solar-powered bitcoin mining. Technical Market Outlook: The BTC/USD pair has been seen testing the supply zone again. Only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The market conditions on the H4 time frame are extremely overbought, so a local pull-back towards the level of $19,891 is possible. The nearest technical support is seen at $19,096 and $19,256. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,869 WR2 - $19,490 WR1 - $19,335 Weekly Pivot - $19,190 WS1 - $18,955 WS2 - $18,731 WS3 - $18,351 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 08:00 2022-10-06 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295497
The Commodities Feed: China's 2023 growth target underwhelms markets

RBA Hike Sent A Wave Of Optimism But The Downside Risks Persist

Swissquote Bank Swissquote Bank 05.10.2022 10:17
Global equities, bonds, commodities and currencies rallied, as the US dollar eased further yesterday. Soft US JOLTS data, and softer-than-expected Reserve Bank of Australia (RBA) hike sent a wave of optimism across the global markets. But the downside risks persist with further US jobs data due today, and OPEC – which may announce a big cut in oil production. The US dollar index slid to 110 mark, the EURUSD advanced to parity, and Cable advanced to 1.1490. The USDCAD fell to the 1.35 on the back of softer US dollar and firmer oil. Commodities Market In commodities, gold tested the 50-DMA to the upside ($1730 per ounce,) while Bitcoin consolidated above the $20K mark. Today, the ADP report is expected to print 200’000 new private job additions in the US. A soft figure is what every investor is secretly praying for. In oil, according to the latest reports, OPEC could announce cutting oil output by 2 million barrels today. But, a big decline in OPEC supplies may not necessarily trigger a further price rally, as higher the energy prices, the sharper the central banks must kill demand to pull the prices lower. Watch the full episode to find out more! 0:00 Intro 0:35 Equities rebound 1:23 Elon will buy Twitter! 2:03 FX update: dollar down, majors, gold & Bitcoin up 2:38 What triggered the latest rally? 6:29 How could it last? 7:20 A big cut from OPEC could, also, backfire! Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #OPEC #Russia #output #cut #energy #crisis #crude #oil #Apple #Tesla #market #rally #shortsqueeze #RBA #RBNZ #rate #hike #US #jobs #ADP #JOLT #data #USD #EUR #GBP #CAD #XAU #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
Cryptocurrency Mining - What Is It? How To Do It?

Watching The Bitcoin's Price Action, BTC/USD Is At A Key Resistance Level

InstaForex Analysis InstaForex Analysis 28.09.2022 11:58
Technical analysis: BTC/USD is on the key resistance level at the price of $20.500 and it will be very important to watch the price action around this key pivot to confirm further direction. Trading recommendation: In case of the upside breakout of $20.500, watch for buying opportunities on the intraday dips with the upside objective at $22.395 In case of the rejection of the key resistance at $20.500, watch for selling opportunities on the rallies with the downside objective at $19.555   Relevance up to 10:00 2022-10-06 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295541
Cryptocurrency Mining - What Is It? How To Do It?

Cryptocurrency Market: These Events May Affect Bitcoin Price In The Near Future!

Ed Moya Ed Moya 05.10.2022 22:57
The economy is too strong for the Fed to pivot. ​ The strong start to October is over after both a private payroll report and service sector data reminded investors how strong some parts of the economy remain. Deteriorating economic data is needed to drive down inflation and for the Fed to consider a slower pace of tightening. ​ If we continue to see resilience in the service sector, the Fed may have to remain aggressive with its rate hiking cycle. ​ ​ ​ Before the end of the year, but definitely not this month, the Fed will temper its hawkish stance. Inflation is still the driving focus and that data is not softening quickly enough. ADP/ISM Services A private payrolls report showed 208,000 jobs were created in September, roughly in line with the 200,000 consensus estimate. ​ After a couple of downbeat labor data readings, the ISM manufacturing employment component fell into contraction and JOLTS data lost over a million job openings, Wall Street was starting to grow confident that a labor market slowdown had arrived. ​ Hiring is slowing, but it seems the service sector is still holding up. ​ The ADP report showed the goods-producing sector lost 29,000 jobs, while service-providing jobs showed a gain of 237,000 positions. The ISM Services employment index rose sharply to the highest levels since March. ​ ​ ​ Traders might be disappointed if they were hoping for a sharp deterioration in hiring with the nonfarm payroll report. The early October rally might completely fade if the nonfarm payroll shows steady hiring and continued wage pressures. Crypto Reversal Wednesday is here and risk aversion has taken bitcoin tentatively below the $20,000 level. ​ The strong start to October is over and markets were quickly reminded that Fed pivot calls were premature once again. ​ After an ADP employment change report and ISM Services Index, traders were quickly reminded that the economy isn’t falling off a cliff and that the Fed might have to remain aggressive with its rate hiking cycle next year. Bitcoin’s fundamentals still support a healthy consolidation here and that should remain the case as long as we don’t see a double dose of robust hiring on Friday and much hotter-than-expected inflation next week. ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Mid-market update: October rally over, robust service sector hiring, bitcoin drifts below $20k - MarketPulseMarketPulse
Bitcoin Is Showing A Good Sign For The Further Rise

Bitcoin Has Potential For Further Drop Towards Lower Reference Levels

InstaForex Analysis InstaForex Analysis 06.10.2022 08:50
Technical analysis: BTC/USD has been trading downside this morning and I saw breakout of the rising wedge pattern and rejection of the key resistance at $20.400. Trading recommendation: Due to the breakout of the rising wedge pattern, I see potential for further drop towards lower reference levels. Watch for selling opportunities on the intraday rallies with the downside objectives at $20.130, $20.000 and $19.775. Stochastic oscillator is showing bearish divergence in the background, which is another sign that buyers lost power. Key resistance is set at the price of $20.445   Relevance up to 08:00 2022-10-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295677
Genesis Block Actually Started Liquidating Its Crypto Business

MicroStrategy Has Announced A Full-time Recruitment For The Lightning Network Software Engineer Vacancy

InstaForex Analysis InstaForex Analysis 06.10.2022 10:34
Crypto Industry News: MicroStrategy is known in the cryptocurrency community for its bullish attitude towards bitcoin. The company is a corporate leader in terms of the amount of bitcoins it holds, and its director - Michael Saylor - regularly speaks of superlatives about the first cryptocurrency. Now, a mobile software company that deals with cloud-based services and business intelligence (BI) has announced a full-time recruitment for the Lightning Network software engineer vacancy. MicroStrategy has published a job offer for a Lightning Network software developer. After the electronics giant purchased another 301 bitcoins (BTC) last week, it has now posted a job offer. It concerns full-time employment of a person for the position of Bitcoin Lightning software engineer. The new developer will be tasked with creating a software-as-a-service (SaaS) platform for MicroStrategy based on the Lightning Network. This is to use it for use cases in e-commerce and to establish cooperation with companies looking for payment solutions. Technical Market Outlook: The BTC/USD pair has been seen testing the supply zone again. Only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The market conditions on the H4 time frame are extremely overbought, so a local pull-back towards the level of $19,891 is possible. The nearest technical support is seen at $19,096 and $19,256. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,869 WR2 - $19,490 WR1 - $19,335 Weekly Pivot - $19,190 WS1 - $18,955 WS2 - $18,731 WS3 - $18,351 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Relevance up to 09:00 2022-10-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295695
Bitcoin Has Made A Dynamic And Aggressive Reversal

Cryptocurrency Market: Stronger Dollar And Weaker Stocks Made Bitcoin Decrease On Wednesday

Alex Kuptsikevich Alex Kuptsikevich 06.10.2022 13:42
Bitcoin sales reduced Bitcoin was down 1.7 per cent on Wednesday, ending the day at around $20K amid a retreat in stock indices and a stronger USD. BTC corrected downwards after a two-day rise. The cryptocurrency Fear and Greed Index was up 1 point to 26 by Thursday and stepped up from "extreme fear" into "fear" status. The $20.3K mark has been acting as local resistance for over three weeks. On Thursday morning, we continue to see selling pressure at this level. In other markets, it is also easy to see the doubts among the players whether the risk demand has started to recover. Investors and traders are waiting for signals from the Fed or other central banks to start the rally. Either a clear sign that "this time is different" and that the weak economy will not cause regulators to soften. Those with the glass half-full note that the active phase of price declines has dried up, and we are speculating about when the price will start to rise, but not how deep the plunge will go. According to CryptoQuant, miners sharply reduced bitcoin sales in September after the August reset, shifting to holding reserves. The leading crypto as a "good store of value"? Galaxy Digital head Michael Novogratz said that in the current environment, bitcoin could still be a good store of value but was unlikely to exceed $30,000 by the end of the year. According to him, BTC has fallen under the sledgehammer of the Fed's fight against inflation, and only a softening of this policy could cause the market to grow. The international payments system SWIFT has reported a successful test of a full-scale Central Bank Digital Currency Deployment (CBDC). According to Chainalysis, the Middle East and North Africa (MENA) region has led the way over the past year in adopting cryptocurrencies in various areas of life. Latin America and North America follow with 40% and 36% respectively. In the third quarter, the crypto industry lost $428 million from hacks and scams, experts at bounty platform Immunefi calculated. There were 39 incidents, of which 30 were actual hacking attacks with a total loss of $399m.
Forex: US dollar against Japanese yen amid volatility and macroeconomics

The UK Construction PMI Higher Than Expected, Bitcoin Amid Incoming NFP Release

Craig Erlam Craig Erlam 06.10.2022 22:11
Equity markets have erased early gains to trade in the red on Thursday, as investors take a cautious approach ahead of Friday’s jobs report. The narrative in recent days of weaker data being positive as it could be a precursor to slower tightening didn’t seem sustainable and it’s already proving to be the case. I think it was more a reflection of the steep sell-off in the markets and the performance of risk assets in general over the six weeks previous, rather than the data. If the Fed wasn’t prepared to jump at the first sign of inflation easing, it certainly won’t on the back of a weaker PMI and decline in job openings. The recovery did provide some temporary relief and while weaker data is likely to precede a deceleration in rate hikes, I don’t think we’re there yet. Yesterday’s services PMI – which is far more important – was still strong, as was the ADP number and tomorrow’s jobs report is expected to remain hot. That may put an end to the narrative for now, although any weakness in the labour market data tomorrow, or signs of additional slack, could boost the relief rally once more and see equity markets end the week strong. As I say, it’s all clutching at straws at this point but after weeks of heavy losses, perhaps that’s not overly surprising. UK facing major headwinds The UK economy appeared to get some good news from the Construction PMI this morning, which easily beat expectations rising to 52.3 rather than dropping to 48.1 from 49.2. So rather than contracting at a faster rate, the industry posted strong growth in the survey. Unfortunately, the headline number simply doesn’t tell the full story. The improvement was driven by delayed projects and easing supply shortages, while new orders showed the weakest growth since May 2020. That’s a more accurate reflection of the state of play in the UK right now. As was captured overnight by Fitch downgrading the outlook from stable to negative in light of the mini-budget. The overall rating remained at AA- but that may change once the details of how everything will be paid for are released in the budget. Sterling is down for a second day after recovering over the last week, off around 0.6% against the dollar. Choppy ahead of the jobs report Bitcoin continues to be choppy around $20,000, with trade in the middle of the week having lost the momentum it started with. Traders appear to have one eye on the jobs report now in the hope it’s bad enough to trigger another risk rally. Given the strength of the labour market until now, they may be disappointed once more. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Relief rally already struggling - MarketPulseMarketPulse
Sber And First Issue Of Gold-Backed Digital Financial Assets

Crypto Market And The Scaling Solution Continues Its March Upwards| Bitcoin Keeps Its Downtrend

InstaForex Analysis InstaForex Analysis 07.10.2022 10:50
Crypto Industry News: The total capacity on public channels of the total capacity of the Bitcoin Lightning Network exceeded 5,000 BTC for the first time. This means greater liquidity allowing users to make faster payments and potentially higher transaction volumes. Over the past four years, the network has faced a lot of criticism, mostly from supporters of other blockchains. The current year is a difficult one for the cryptocurrency market. However, the scaling solution continues its march upwards. This increase can be attributed, inter alia, to speculation, trading, leverage or any potential VC funded incentive that depends on the exploitation of the retail market by players. Technical Market Outlook: The BTC/USD pair has been seen testing the supply zone, but the test failed and the market reversed lower again. THis supply zone is very inportant from a technical point of view, because only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The market conditions on the H4 time frame are already neutral, so a local pull-back towards 30 periods moving average is possible. The nearest technical support is seen at $19,796 and $19,256. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,869 WR2 - $19,490 WR1 - $19,335 Weekly Pivot - $19,190 WS1 - $18,955 WS2 - $18,731 WS3 - $18,351 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 08:00 2022-10-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295858
The President Of El Salvador Continues To Promote Bitcoin

The Current Decline In The Cryptocurrency Market Is Directly Related To The Monetary Policy Of The Fed

InstaForex Analysis InstaForex Analysis 07.10.2022 11:21
Bitcoin closed the trading session almost unchanged on Thursday - at a level slightly above $20,000. At the time of writing, the cost of BTC is balanced at $19,983. The day before, the first cryptocurrency was in strong demand in the Asian session, but later lost all its achievements amid a spectacular fall in US stock indices and the strengthening of the US dollar. So, on Thursday, the Dow Jones Industrial Average sank by 1.15%, the S&P 500 lost 1.02%, and the NASDAQ Composite fell by 0.68%. The main reason for the negative on the US stock exchanges was the decision of OPEC+ to reduce quotas for oil production. Thus, the Organization of the Petroleum Exporting Countries agreed to reduce production by 2 million barrels per day in November in order to support falling prices. In the near future, investors are confident that this OPEC+ decision will push global inflation to a steady growth. By the way, since the beginning of 2022, analysts have increasingly begun to emphasize the high level of correlation between the US securities market and virtual assets amid intense expectation by both of the consequences of the geopolitical conflict in eastern Europe and the next steps of the US Federal Reserve. Earlier, analysts of the investment company Arcane Research have already stated that the correlation of BTC and technology securities has peaked since July 2020. In addition, economists of the analytics platform TradingView said that the relationship of the cryptocurrency market with the US stock market in the last quarter reached 70%. The current situation looks rather ironic, because since the advent of cryptocurrency, it has been positioned as the main means to protect against inflation and price volatility in traditional markets. However, in recent months, digital assets have increasingly correlated with stock markets, which makes one doubt the success of virtual coins. On Thursday, analysts from the American investment company Ark Invest reported that, since spring, holders have accumulated a record amount of bitcoin, buying up an asset at a falling price. At the moment, they control about 13.7 million BTC – 71.5% of the total coin supply. This state of affairs, Ark Invest says, significantly eases the pressure on the main cryptocurrency. No less optimistic forecasts regarding cryptocurrencies are also held by experts of the financial company DappRadar, who stated that in the third quarter of 2022, the digital asset market entered a long phase of consolidation. The recovery of virtual coins, DappRadar is certain, began in September. At the same time, in the period from July to September, the value of digital currencies collapsed by 8.5%. The first signs of recovery appeared only at the end of last month. One of the most important events of this was the renewal of Ethereum. So, on the morning of September 15, the Ethereum network successfully migrated from the Proof-of-Work (PoW) algorithm to Proof-of-Stake (PoS), which does not require mining. The migration happened as part of a major update of The Merge. At the same time, in the first hours after the transition of ETN to the Proof-of-Stake algorithm, a powerful influx of altcoins to centralized exchanges was observed. On the same day, the founder of the ETH network Vitalik Buterin confirmed its successful transition to PoS and the absence of failures or errors in the update process. By the way, earlier the Canadian-Russian programmer stated that the transition of the network to Proof-of-Stake will increase the popularity of digital assets for everyday payments by reducing the commission to 2 cents. According to Buterin, the popularity of crypto payments fell after 2018 amid high transaction fees. To date, ETN continues to be the leader in the ranking of blockchains in terms of the number of deployed DeFi projects. The cost of funds in protocols placed on the basis of ETH by the end of September exceeded $ 48 billion. The focus of crypto investors on Friday is the report on employment in the non-agricultural sector of the United States (NFP), which will help the Federal Reserve determine the future path of the country's monetary policy. According to preliminary forecasts of analysts, 250,000 jobs were created in the non-agricultural sector of America in September - less than in the previous month, but enough to continue the hard line of the US central bank. By the way, the current decline in the cryptocurrency market is directly related to the monetary policy of the Fed. So, recently, experts of the analytical company Kaiko reported that the volatility of BTC significantly depends on the results of meetings of members of the US central bank. According to analysts from Kaiko, the high correlation of bitcoin with the Fed's decisions was recorded in the summer of 2021, which indicates that the cryptocurrency market has long been influenced by key macroeconomic indicators.   Relevance up to 09:00 2022-10-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/323696
In Crypto, You Could Prove You Own A Private Key Without Revealing It

Cryptocurrency Trading Volumes Will Remain Near The Lows

InstaForex Analysis InstaForex Analysis 07.10.2022 13:09
The market capitalization of the cryptocurrency is actually stuck near the level of $955 billion. Even despite the increase in bullish signals, there are no significant changes in the price movement of the entire market. Why is the crypto market worth it? The main reason for the lack of significant price movement is the DXY index. The indicator peaked at 114, after which it began to decline. However, the corrective movement has not yet passed into the phase of a full-fledged downward trend. And this stops the growth of capitalization of high-risk assets. In 2022, most central banks launched an aggressive monetary policy aimed at fighting inflation by reducing the availability of money. Due to the decrease in financial opportunities, the level of interest in risky assets also falls. The main indicator of interest in high-risk assets is the DXY index. The indicator is gradually starting to decline, while the SPX has shown growth for three days in a row. In the short term, this may mean the emergence of a local bullish trend for major cryptocurrencies. ETH/USD Analysis The main altcoin continues to move within the framework of consolidation in the range of $1,200–$1,400. The cryptocurrency cannot go beyond the zone due to the downward trend line. As of October 7, ETH trading volumes are not enough for a full breakout. Technical metrics continue to point to the continuation of the flat price movement. RSI and stochastic are moving in the bullish zone but without hints of bullish signals. However, given the low trading volumes, if the price breaks out of the range, then this will be an impulsive movement. At the same time, Santiment analysts point to the active growth of new ETH wallets. Glassnode also noted that the number of ETH addresses with a balance of 1 Ether reached an absolute maximum of 1,580,000. This is a positive signal indicating a growing interest in the altcoin, and as a result, an increase in trading volumes. For the past two weeks, ETH has stood still without significant attempts to break out of the range. Given the approaching DXY correction, as well as the growing interest in Ethereum, we should expect the emergence of a local bullish trend. However, it is unlikely that the trading volumes needed to move up will appear over the weekend. BTC/USD Analysis The main news regarding BTC was the increasingly obvious uncorrelation with the S&P 500 stock index. Formally, assets retain the similarity of the dynamics of price movement. However, Bitcoin does not come close to implementing the upward jerks that SPX makes. This may indicate a worrying trend that the upcoming DXY correction will be a bullish leg for the stock market. Throughout the week, the US markets have been talking about the high potential of the S&P 500, NASDAQ, and Jones. As a result, BTC formally follows SPX, but most of the investment is concentrated in the stock market. If this fact is confirmed, then the potential for the likely upward movement of Bitcoin will be much less. Despite the disturbing news about the "relationship" between cryptocurrencies and stock indices, there are also positive signals. Glassnode analysts noted that more than 45% of all BTC have not moved for two years. This is an important signal indicating a high level of long-term investors, who are the main fuel for the fundamental value of the asset. In addition, CryptoQuant shed another ray of light on Bitcoin's commitment to the $20k level. Experts believe that the price of the cryptocurrency is at the level of the aggregate breakeven of institutional investors. This could be another reason for the strong support zone near $20k. Miners continue to be the main suppliers of BTC to crypto exchanges. One of the major American miners, Core Scientific, produced 1,213 in September, which is not 9% less than in August. At the same time, the company had to sell 1,576 BTC, which negatively affected the price of Bitcoin. Conclusions One by one, Fed officials have announced low chances for monetary easing in 2023. Powell has adjusted his inflation forecast for 2023, and now the acceptable figure is at the level of 3%. It's an admission that part of inflation is out of control. With this in mind, cryptocurrency trading volumes will remain near the lows. Therefore, the main stages of price growth will be the correction of the US dollar index. In the medium term, the forecast remains valid—cryptocurrencies will start to grow, and the first visible signals for this may appear next week.   Relevance up to 10:00 2022-10-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/323708
The FTX Bankruptcy Exposed Vulnerabilities In The Crypto System

Grayscale Assumes That Bitcoin Will Return To Higher Values

InstaForex Analysis InstaForex Analysis 10.10.2022 11:20
Crypto Industry News: Grayscale, the world's largest cryptocurrency asset manager, announced a new investment providing exposure to BTC miners. The fund will raise money to buy Bitcoin ASIC machines that will be operated by Foundry Digital to mine and sell crypto on behalf of investors. According to Grayscale's website, the company aims to create an income stream that differs from "traditional revenue-oriented investments." The company will strive to buy mining hardware, buy and sell Bitcoins on a daily basis, and distribute operating income quarterly to investors. Grayscale assumes that Bitcoin will return to higher values as part of a four-stage mining cycle: "Rising Bull", "Mining Gold Rush", "Inventory Flush" and "Shakeout". The company says the mining cycle has entered an "Inventory Flush" phase where the hash rate remains high, but Bitcoin's price has dropped significantly. According to the theory, the next "bump" will lead to a drop in mixing speed as miners will be forced to shut down their machines. The product is available to accredited investors only and requires a minimum investment of $ 25,000. Technical Market Outlook: The BTC/USD pair has been seen trading inside a narrow zone all weekend long, so the volatility is drying up. The supply zone (marked as a red rectangle) is very inportant for bulls from a technical point of view, because only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The market conditions on the H4 time frame are weak and negative, so a local pull-back towards the short-term trend line support (marked in blue) might happen soon. The nearest technical support is seen at $18,944 and $18,856. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,705 WR2 - $19,556 WR1 - $19,482 Weekly Pivot - $19,332 WS1 - $19,257 WS2 - $19,132 WS3 - $19,009 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 10:00 2022-10-11 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296074
The President Of El Salvador Continues To Promote Bitcoin

Real Vision CEO Triggers Belief In 2023 Ethereum's Success

InstaForex Analysis InstaForex Analysis 10.10.2022 16:43
Over the past week, the cost of bitcoin has increased by 5.5%, closing the trading session on Sunday at around $19,500. By the way, the last seven-day period was the first week of growth for bitcoin after three weeks of falling. So, from the second half of August and for the whole of September, the coin fell in total by almost 20% - from $24,400 to $19,800. At the time of writing, BTC is trading at $19,262. Bitcoin At the beginning of the past seven-day period, the main cryptocurrency was confidently staying in the green zone and even easily overcame the $20,000 level thanks to the spectacular growth of US stock indices, but lost almost all of the growth closer to the weekend. Since the beginning of 2022, analysts have increasingly begun to emphasize the high level of correlation between the US securities market and virtual assets amid intense anticipation by both of the consequences of the geopolitical conflict in Eastern Europe and further steps by the US Federal Reserve. Earlier, analysts from the investment company Arcane Research have already stated that the correlation of BTC and technology securities has reached its peak since July 2020. In addition, the day before, economists from the TradingView analytics platform said that the relationship between the cryptocurrency market and the US stock market reached 70% in the past quarter. At the same time, an important factor in pressure on digital assets at the end of the week was the employment report from the US Department of Labor published on Thursday. According to the report, the number of Americans who first applied for unemployment benefits in September rose by 29,000 to 219,000 people. At the same time, the market on average predicted an increase in the indicator only to 204,000. The report published last week, investors are certain, will become a reference point for the Fed in the strategy of determining the future path of the country's monetary policy. By the way, the current fall in the cryptocurrency market is directly related to the monetary policy of the Fed. So, recently, analysts from the analytics company Kaiko reported that BTC volatility significantly depends on the results of meetings of members of the US central bank. According to analysts from Kaiko, a high correlation of bitcoin with the decisions of the Fed was recorded in the summer of 2021, which indicates that the cryptocurrency market has long been influenced by key macroeconomic indicators. So, when in May 2022 the Fed raised the rate range to 0.75-1% per annum, the cost of the first cryptocurrency sharply overcame the level of $40,000, but on the same day it fell below $36,000, starting the process of a protracted correction. In June this year, when the US central bank raised its key rate to 1.5-1.75%, bitcoin immediately reacted with spectacular growth. Experts are confident that in the coming months, the digital asset market will respond even more strongly to the speeches of world central banks, because, often, an increase in the interest rate dramatically reduces the ability of investors to invest in risky assets such as virtual currency. As for cryptocurrencies from the top 10 by capitalization, over the past week, the coins showed varying success. At the same time, the worst results were recorded by Cardano (-1.7%), and the best by XRP (+11.5%). According to the world's largest virtual asset data aggregator CoinGecko, last week the total market capitalization of cryptocurrencies amounted to $985.36 trillion. Since last November, when this figure exceeded the $3 trillion mark, it has more than tripled. Forecasts of crypto experts Since the beginning of October, analysts of the digital asset market have been sounding increasingly optimistic forecasts about its future. So, experts of the financial company DappRadar, said that in the third quarter of 2022, the cryptocurrency entered a long phase of consolidation. The restoration of virtual coins, DappRadar is confident, began in September. At the same time, in the period from July to September, the value of digital currencies fell by 8.5%. The first signs of recovery appeared only at the end of last month, one of the most important events of which was the Ethereum update. So, on the morning of September 15, the Ethereum network successfully migrated from the Proof-of-Work (PoW) algorithm to Proof-of-Stake (PoS), which does not require mining. The migration occurred as part of a major update to The Merge. At the same time, in the first hours after the transition of ETN to the Proof-of-Stake algorithm, a powerful influx of altcoins to centralized exchanges was observed. On the same day, the founder of the ETH network Vitalik Buterin confirmed its successful transition to PoS and the absence of failures or errors in the update process. By the way, earlier the Canadian-Russian programmer stated that the transition of the network to Proof-of-Stake will increase the popularity of digital assets for everyday payments by reducing the commission to 2 cents. According to Buterin, the popularity of crypto payments fell after 2018 amid high transaction fees. To date, ETH continues to be the leader in the blockchain ranking in terms of the number of deployed DeFi projects. The value of funds in protocols placed on the basis of ETH exceeded $48 billion by the end of September. Read next: Elon Musk Is Getting Into Geopolitics| Russia And Another Attack| FXMAG.COM Last week, the former top manager of the financial conglomerate Goldman Sachs, and now the CEO of Real Vision, Raoul Pal, also said that digital assets will see strong growth in the coming year. The analyst explains his optimism about the cryptocurrency market in the long term by the global economic crisis and the merger of Ethereum. So, Pal is sure that amid ETH migration to the Proof-of-Stake algorithm, miners who sell altcoins every day will leave the market. As a result, there will be a decrease in the volume of offers and $6 billion in Ethereum will disappear from monthly sales. In this case, the main competitor of bitcoin will be less prone to inflation. In addition, the CEO of Real Vision believes that, thanks to the constantly growing demand, the decrease in the supply of ETH and the environmental problems of BTC, 2023 can be very successful for Ethereum. However, among crypto experts there are those who do not believe in the recovery of bitcoin and its competitors in the near future. Recently, the CEO of Digifox, Nicholas Merten, announced that BTC is waiting for a collapse to $14,000. The crypto expert came to this conclusion based on technical and macroeconomic factors. So, Merten is sure, the recent exchange rate movement of bitcoin may signal the end of a 10-year bullish cycle, after which the coin will cease to be a key asset compared to other commodities and stocks. According to the crypto expert, the recent decision of the Fed on monetary policy may also be an important macroeconomic incentive to reduce the cost of the first cryptocurrency. Recall that during the September meeting, the US central bank raised the key rate range by 75 basis points - to the highest level since 2008 - 3-3.25%. The combination of the above technical and macroeconomic factors, according to the CEO of Digifox, will soon push bitcoin to the price bottom at $ 14,000. If the coin collapses to these values, its correction will be 80% of the historical record of $69,000. As for the future of bitcoin's main competitor, the Ethereum altcoin, Merten assumes that the cryptocurrency will retest the $800-$1,000 range, and in the worst case, the quotes will fall even lower. Meanwhile, analysts from the analytics company Glassnode are confident that in the near future bitcoin will continue to trade in the range of $17,000 to $25,000. At the same time, the tight monetary policy of the Fed and other world central banks, as well as the negative macroeconomic background, neutralize all important positive events related to the virtual asset market. A well-known expert in the field of cryptocurrencies, Ton Weiss, recently stated that fans of the BTC should prepare for a sharp drop in the coin. At the same time, the upcoming collapse of the asset will be "the last powerful decline before growth," Weiss is certain. Quotes will drop to $14,000-$15,000, where the ideal entry point for purchases will open. The capitulation of bitcoin to the specified lows, the analyst admits, may happen in the near future. Of course, the crypto expert adds, such a loud decline in the leader of the virtual asset market will provoke a drop in the rates of other coins.   Relevance up to 13:00 2022-10-11 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/323865
The Difficulty In Extracting Subsequent BTC Blocks Has Achieved The Highest Level

The Difficulty In Extracting Subsequent BTC Blocks Has Achieved The Highest Level

InstaForex Analysis InstaForex Analysis 11.10.2022 11:54
Crypto Industry News: The difficulty of mining the first cryptocurrency on October 10 was at its highest historical level. The latest estimates indicate its jump by 13%, which means that it is at the level of 35.61 trillion hash. The difficulty in extracting subsequent BTC blocks has exceeded the highest level of 35.61 trillion hashs today. The reasons for this situation can be found in the fact that miners are intensifying their work on mining bitcoin, or that more and more people are joining the network for this purpose. Mining difficulty is an automatically adaptive function of the Bitcoin protocol. It is a measure of how much work it takes to mine the next BTC block. It has been implemented to ensure that blockchain transactions are processed at a steady pace, i.e. 10 minutes. The difficulty is encrypted every 2016 blocks according to the hash rate changes. Recent data suggests that it has increased by 13% to 35.61 trillion, the largest upward revision of Bitcoin mining difficulty since mid-2021. As a result, this will create some difficulties for bitcoin miners to compete with each other to solve the problem of the complex cryptographic calculations. These are solved using specialized hardware chips, i.e. application-specific integrated circuits (ASICs). Technical Market Outlook: The BTC/USD pair had broken out of the local trend line and the Falling Wedge price pattern as the new local low at the level of $18,965 was made. The supply zone (marked as a red rectangle) is very inportant for bulls from a technical point of view, because only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The market conditions on the H4 time frame are weak and negative, so a local pull-back towards the short-term trend line support (marked in blue) might happen soon. The nearest technical support is seen at $18,944 and $18,856. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,705 WR2 - $19,556 WR1 - $19,482 Weekly Pivot - $19,332 WS1 - $19,257 WS2 - $19,132 WS3 - $19,009 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.     Relevance up to 09:00 2022-10-12 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296276
Behind Closed Doors: The Multibillion-Dollar Deals Shaping Global Markets

Another Gloomy Day In The Asian And European Market

Craig Erlam Craig Erlam 11.10.2022 14:06
European stock markets are poised for another weak open as much of Asia reopened on Tuesday to large declines. Asia is flashing red as it nears the close and Europe may be facing a similarly bleak day. JP Morgan CEO Jamie Dimon didn’t hold back in his assessment of the economic outlook, adding to the warnings of the IMF and World Bank, among many others. Dimon was one of the first earlier this year to warn of far more aggressive monetary tightening and even he proved to be ultra-conservative, even if it didn’t look that way at the time. There is growing pessimism in the markets now and with some big data points to come from the US this week, not to mention the start of earnings season with JP Morgan among those getting us underway, investors should probably brace for more volatility ahead. Tight UK labour market making BoE job harder The UK labour market is showing little sign of loosening, with unemployment in the three months to August falling to 3.5%. At the same time, average earnings including bonuses jumped to 6% while excluding bonuses they rose to 5.4%. That’s another sizeable increase but perhaps not surprising when firms are facing labour shortages, according to a report from CBI and Pertemps. At the same time, with inflation running at close to 10% and expected to increase further, real UK incomes remain extremely negative. One lesson from the pandemic was that companies shouldn’t be in such a rush to let workers go as hiring them back can be difficult and expensive. While that knowledge, alongside higher wages, may help households navigate the cost-of-living crisis and impending recession, it makes the job of reining in inflation that much harder for the Bank of England. How hard that will prove to be will depend on the Chancellor’s budget in three weeks. Markets expect at least 1% of rate hikes in November, maybe more, but that may well change over the coming weeks. The pound tumbled again after the data and is threatening to break back below 1.10 against the dollar, a move that will no doubt fuel parity debate once more. No one panicking just yet The risk-aversion of recent days hasn’t been ideal for bitcoin either, with the cryptocurrency slipping back below $20,000 and struggling to turn its fortunes around. It’s off more than 1% again this morning around $19,000, having spent much of the last six days in the red. Of course, we’ve become accustomed to these fluctuations and the recent sell-off has been modest in pace. No major technical supports have been broken at this stage so I can’t imagine anyone is panicking. Of course, we’ll see if the same is true after Thursday. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Businesses Such As Microstrategy, Can Purchase Any Quantity Of Bitcoins And Hold Them On Their Balance Sheet For As Long As They Choose

The United States Is One Of The Most Cryptocurrency-Friendly Countries In The World

InstaForex Analysis InstaForex Analysis 12.10.2022 10:41
Crypto Industry News: The United States is making strides in cryptocurrency regulation and is home to the largest number of Bitcoin and Ethereum nodes in the world. It's fair to say that the United States is one of the most cryptocurrency-friendly countries in the world. It ranks first in the number of Bitcoin and Ethereum nodes, and regulators have taken a particular interest in this topic. In September, the administration of President Joe Biden released a series of federal reports on how to regulate cryptocurrencies in the coming year. As part of these reports, the Office of Science and Technology indicated that the government is "responsible" for "protecting" communities from the negative effects of pollution and climate change caused by cryptocurrencies. President Biden's Inflation Reduction Act is the largest ever American investment in reducing greenhouse gas emissions, clean energy and resilience to climate change. It is spending about $ 370 billion in incentives, such as green energy tax breaks, to spur the development of large-scale clean energy technology and further electrify the digitization of the United States. According to one report, the use of blockchain technology in power micro-grids has the potential to promote "techno-socio-economic innovations for the restructuring of a sustainable energy supply chain", enabling the coordination of distributed energy resources. Technical Market Outlook: After the trend line breakout, the BTC/USD pair had been seen consolidating around the technical support located at the level of $18,860. The supply zone (marked as a red rectangle) is very inportant for bulls from a technical point of view, because only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The market conditions on the H4 time frame are weak and negative, so a local pull-back towards the short-term trend line support (marked in blue) might happen soon. The nearest technical support is seen at $18,944 and $18,856. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,705 WR2 - $19,556 WR1 - $19,482 Weekly Pivot - $19,332 WS1 - $19,257 WS2 - $19,132 WS3 - $19,009 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 09:00 2022-10-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296467
Bitcoin Is Showing A Good Sign For The Further Rise

According To The Glassnode Report, Bitcoin "Remained Remarkably Stable"

InstaForex Analysis InstaForex Analysis 13.10.2022 10:06
Crypto Industry News: Glassnode, in its weekly on-chain analysis report on October 10, states that bitcoin has "remained remarkably stable" in recent weeks compared to traditional asset markets such as forex and stocks. As it added, in the context of interest rate hikes by central banks, rampant inflation and a strong US dollar, bitcoin has unusually low volatility. The bottom of a bear market is usually a time of slow and steady accumulation by institutions, seasoned investors, and whales. The report compared two charts: one for the bear market between September 2018 and April 2019, and the downturn period that began in April 2022. Both charts were incredibly similar - each with a clear capitulation. Glassnode also sees a spike in whales' activity paying out BTC from exchanges, which is also a signal of accumulation as cryptocurrencies are held by large investors outside of trading platforms rather than being prepared for sale. Whale BTC withdrawals from exchanges reached the level of 15.7 thousand. BTC, the largest since June 2022. A whale is defined as an entity that owns over a thousand bitcoins. Glassnode also used an indicator called the Accumulation Trend Score to determine the "aggregate intensity of balance changes" of active traders over the past 30 days. The measure "indicates that there has been significant accumulation by large entities". This is another similarity to 2019. Technical Market Outlook: The BTC/USD pair had been seen consolidating around the technical support located at the level of $18,860 however it might be violated soon. The supply zone (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The market conditions on the H4 time frame are weak and negative, so a local pull-back towards the short-term trend line support (marked in blue) might happen soon. The nearest technical support is seen at $18,944 and $18,856. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,705 WR2 - $19,556 WR1 - $19,482 Weekly Pivot - $19,332 WS1 - $19,257 WS2 - $19,132 WS3 - $19,009 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 09:00 2022-10-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296660
Bitcoin is trying to resume its upward movement

Bitcoin Has The Potential Selling Opportunities On The Rallies With The Downside Objectives

InstaForex Analysis InstaForex Analysis 13.10.2022 10:15
Technical analysis: BTC/USD has been trading downside as I expected and the price is getting closer to the downside objectives. Trading recommendation: Due to the strong downside pressure in the background and breakout of the rising channel, I see potential for further drop. Watch for the potential selling opportunities on the rallies with the downside objectives at the price of $18.870 and $18.520. Stochastic oscillator is showing fresh downside cross, which is good sign for further downside movement. Key resistance is set at the price of $19.200   Relevance up to 09:00 2022-10-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296670
Bitcoin Has Made A Dynamic And Aggressive Reversal

Bitcoin Will Not Begin A Full-Fledged Growth

InstaForex Analysis InstaForex Analysis 13.10.2022 13:30
Bitcoin continues to move without any changes near the $19k mark. The wedge pattern on the daily chart is approaching its final formation. Considering that important statistics will be published today, we should expect an exit outside the current range. Fundamental factors In anticipation of the publication of reports on rising inflation, the FOMC issued "minutes", which, among other things, indicated that at some point the agency was ready to slow down the rate increase. However, the regulator acknowledges the fact that inflation is declining more slowly than expected. Given this, the Fed considers it necessary to raise the rate, despite the slowdown in the labor market. Also, most members of the regulator expressed confidence in the need to keep the rate at a high level for the required period. The Fed is trying to calm the markets but does not indicate specific dates for the end of its aggressive monetary policy. It is important to note that the Fed's rate may change on a monthly basis, depending on progress in reducing inflation. That is why today will be filled with volatility in the cryptocurrency market. JPMorgan believes that if the inflation report is higher than 8.3%, then the markets will actively sell high-risk assets. This will lead to another wave of falling stock and cryptocurrency markets. In addition to the impulsive reaction, poor reporting will affect the future policy of the Fed. DXY Analysis The US dollar index awaits the publication of reports on the consumer price index with great excitement. In case of unsatisfactory results of the CPI, DXY may hope for the next stage of growth and the achievement of new local highs. For the most part, it is on the US dollar index that it is necessary to analyze the results of the publication of financial statements. We are accustomed to bitcoin's impulsive and illogical movements after breaking news. DXY more accurately reflects the local change in market conditions. The asset corrected to 110, after which it resumed its upward movement and reached the level of 113. Selling pressure stopped the advance of DXY, but the CPI report could change the situation. BTC/USD Analysis The main cryptocurrency continues to remain in a narrow range, and as of writing, there is no reason to believe that the asset is successfully implementing a bullish momentum with a positive news background. Low trading volumes, social sentiment, and weak buying activity are the main barriers for BTC to break out of the range. Institutional activity in the Bitcoin network has also fallen to local lows. BTC transactions worth between $100,000 and more than $1 million fell to the bottom that was formed in 2020. At the same time, the passive accumulation of BTC by long-term investors continues. The balance of Bitcoin on the exchanges fell below 9%. All these factors have led to the fact that trading activity in the network of the main cryptocurrency has been reduced to an absolute minimum. Technical indicators confirm the persistence of the flat trend in BTC. RSI and Stochastic are moving flat, while MACD remains below zero. Results With the publication of positive CPI reports, a short-term increase in Bitcoin quotes is likely. However, this is more likely to be an impulse reaction and not the first stage of the realization of a bullish momentum. In this case, the price can reach the level of $20.4k, where the downward trend line passes. But the asset is unlikely to break through this range due to low trading volumes. In a negative scenario, Bitcoin has every chance to update the local bottom below $17.6k. Over the four months of consolidation, investors have formed a fount of liquidity below the local bottom. And given the catastrophically low trading volumes, there is no doubt that until this "harvest" is collected, BTC will not begin a full-fledged growth.   Relevance up to 09:00 2022-10-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/324195
The Analysis Of Off-Chain Metrics Allows Cryptocurrency Supporters To Count On A Reversal

Fiery Trading Expects Volatility On Bitcoin Price | The US Inflation Has Been Released!

Fierytrading Analysis Fierytrading Analysis 13.10.2022 15:40
  // 🔥 TERRIBLE CPI - Inflation Getting Worse: Crypto Dump? by FieryTrading on TradingView.com Trend Analysis Technical Indicators Chart Patterns Contains image    As of a few minutes ago, the US inflation report ( CPI ) has been released to the public.In short, on all 4 data points the inflation is worse than expected. Especially the bottom two, inflation excluding food & energy is what the markets hate most.This CPI report, combined with the bad PPI report yesterday, and the bad job report of last Friday, is in my view the perfect storm that the markets need to see a major sell-off over the coming weeks.As explained in my analysis below, we're about to see some strong volatility coming our way. My bearish targets are in blue. 💰Lower Your Trading Fees: https://taplink.cc/fierytrading📈Try my Premium Signals for 🚨FREE🚨: https://t.me/FT_Futures_free🔥Premium channel & 💎Contact: http://www.fierytrading.com🎯Crypto Signals & EXCLUSIVE analyses: https://t.me/FieryTradingChannel Website Source: https://www.tradingview.com/chart/BTCUSDT/0Tno8PXW-TERRIBLE-CPI-Inflation-Getting-Worse-Crypto-Dump/
Cryptocurrency Mining - What Is It? How To Do It?

Cryptocurrency Mining - What Is It? How To Do It?

Binance Academy Binance Academy 13.10.2022 22:35
TL;DR Bitcoin and many other blockchain networks use the Proof of Work (PoW) consensus algorithm for cryptocurrency mining. There are many possible ways to mine cryptocurrency; it can be done alone, or in conjunction with others. You can use special mining computers or even the devices already found at home, like your personal computer. While anyone can become a miner, not everyone becomes profitable from it. Before starting, mining requires studying, choosing the correct devices and programs, and some practical tinkering. Introduction Before starting cryptocurrency mining, one should start with a bit of research. It's because different protocols may require unique hardware and software. While mining attracts various people to the cryptocurrency ecosystem due to its possible high rewards, it also enables them to partake in an integral role in making decentralized blockchains possible. Cryptocurrency mining is a highly technical topic, and there is more than one way to do it. This article will cut through the noise and give a more practical idea about it. Learn more on Binance.com What is cryptocurrency mining? Blockchain networks use mining to create and validate new blocks of transactions and secure the network. In the process, the so-called miners use significant amounts of computational resources to create new units of cryptocurrencies, increasing their existing circulating supply. Bitcoin, Litecoin (LTC), and many other blockchain networks use the Proof of Work (PoW) consensus algorithm for cryptocurrency mining. PoW determines how a blockchain network reaches consensus across all the distributed participants without third-party intermediaries. In addition, it solves the double-spend problem, preventing the network participants from using the same funds more than once. PoW promotes good network participation by design. Miners compete by solving complex cryptographic puzzles with mining hardware to win the right to mine the next block. The first miner to find a valid solution and confirm their block of transactions receive rewards. Therefore, the process requires effort and is expensive, but it offers compensation for the work. PoW mining also makes a blockchain network more decentralized. A blockchain can function as a decentralized ledger because countless distributed computers (nodes) worldwide maintain it. Therefore rather than having a single database, these interconnected computers maintain a copy of the blockchain data and communicate with each other to continuously ensure the correct state of the blockchain. However, it's also possible to disrupt a blockchain with a so-called 51% attack. While very unlikely, especially for the larger blockchain networks, a single entity or organization could, in theory, take over 50% of the network's computing power. That amount of mining power would let the attacker intentionally exclude or alter the ordering of transactions, also enabling them to reverse their own transactions. Another potential issue regarding cryptocurrency mining relates to its sustainability and expenses. Cryptocurrency mining requires significant investment, not only in hardware but also in energy. As a result, many miners, especially those that mine bitcoin (BTC), consume massive amounts of electricity. In addition, if a miner doesn't have access to several mining rigs and cheap electricity, the mining will unlikely ever turn into a profit. Types of cryptocurrency mining Miners receive a block reward when they validate a block successfully. The more computing power the miners contribute to the network, the better their possibilities to validate the next block. Yet, as more miners join the game, validating blocks begin to require more computing power. Therefore mining can become too expensive for individual miners. There is not just one way to mine cryptocurrency. So let's go through the major ones individually so that you can choose the right one regardless if you plan to mine as an individual or as part of a collective. ASIC mining Application-specific integrated circuits (ASIC) are computers designed for a single purpose. Some ASIC mining rigs are entirely dedicated to mining cryptocurrency. Keep in mind that new ASIC models can quickly cause older designs to become unprofitable. Also, the so-called ASIC-resistant cryptocurrencies cannot be mined using ASIC miners. GPU mining Unlike ASICs, graphics processing units (GPUs) can serve more than one purpose. Traditionally, their task in a computer is to process graphics and output them to a screen. GPU mining offers a lower entry to cryptocurrency mining because users can do it with affordable and more available hardware like standard laptops. Even though you can still mine some altcoins with GPUs, their efficiency depends on the mining difficulty and algorithm. CPU mining A central processing unit (CPU) is the primary component that operates computers. CPU mining lets you use the idle power from your computer to mine cryptocurrency. Even bitcoin was mined at the beginning using a CPU, but nowadays, CPUs are no longer the most efficient for cryptocurrency mining due to their power constraints. Mining pools Mining pools refer to a group of miners that join forces to combine their computing power (also known as hashing power or hash rate). As their probability of finding new blocks rises, they can earn more collectively and share the rewards. Many miners join mining pools to get a more steady and predictable outcome. Solo mining Solo mining is the opposite of mining pools because it doesn't require other participants. In solo mining, a miner executes the mining process alone. However, especially with major cryptocurrencies, it's harder for miners to succeed due to the increasing competition from the enormous combined processing power of mining pools. Cloud mining In cloud mining, you outsource computational work from a cloud-mining farm. It usually consists of you paying for someone else to mine on your behalf. Therefore, it can make the mining process easier to start because it doesn't require specialized hardware to mine cryptocurrency. In addition, miners rent computing power from a company that can be located anywhere in the world, which means there are no electricity bills or storage issues either. However, this option can be risky as there is no guarantee that you will receive the rewards of your investment. Many of these services have even turned out to be scams. How to mine crypto? Mining has the potential to become a passive income source. You can follow this step-by-step overview guide to start mining on your own. However, keep in mind there are various approaches and techniques to mining. Therefore, these steps might not be effective for some mining methods, and others might require extra measures. Also, note that mining is not always an easy or profitable endeavor as it can be at the mercy of fluctuating crypto prices and changing energy costs. It requires you to configure the mining devices correctly and demands some expenditures to keep the operation running on top of the initial investment.  1. Choose your crypto Cryptocurrencies differ in their mining difficulty. The difficulty refers to the effort the network requires to mine a block. The more miners join the network, the more the competition increases, resulting in rising hashing difficulty. On the other hand, when miners leave the network, the hashing difficulty goes down, making it less difficult to mine a new block. The biggest cryptocurrencies have conditions that are incredibly challenging to satisfy, and, therefore, it's harder for individual miners to earn revenue. For this reason, bitcoin miners use powerful ASICs and mining pools to increase their chances of getting rewarded. It’s common to mine Proof of Work (PoW) cryptocurrencies other than bitcoin, such as Dogecoin and Ethereum Classic. Altcoin networks might not be as congested and offer better chances for smaller miners. Altcoins might also offer higher growth potential due to their untapped potential. In addition, miners can use less energy-consuming mining options as they don't require so much computational power. However, take into consideration that altcoin mining can be more volatile. Or, in the worst case, the protocol can get hacked or abandoned, and the tokens could become worthless. Also, it may be that you will need to renew the mining rigs and spend more money than you initially planned due to the growing popularity of specific cryptocurrencies. For example, in the beginning, miners could use just their laptops to mine bitcoin, which is not the case anymore. 2. Choose your mining equipment Cryptocurrency mining is one kind of competition. In the mining competition, miners benefit from powerful mining hardware because their probability of mining the next block grows. As mentioned, ASIC miners are designed to serve a single specific purpose, which makes them often the best option for cryptocurrency mining. Nevertheless, GPUs are also still viable in some networks, but their efficiency depends on the cryptocurrency's mining difficulty and algorithm. There are also some cryptocurrencies that require mining rigs designed especially for them. For example, Helium's crypto miner uses radio technology – the device is installed in a place with an unrestricted view in order to provide wireless network coverage. Therefore, always ensure what kind of hardware is necessary for the cryptocurrency you intend to mine. 3. Set up a crypto wallet You'll also need a crypto wallet to store the keys for the cryptocurrency you earn from the mining efforts. Once you earn something from the mining process, the mining software will move the rewards to the crypto wallet address you specify. For example, you can use the Trust Wallet to securely store your crypto and connect to thousands of projects across blockchains.  4. Configure your mining device Cryptocurrency mining requires you to download specialized mining software. The best way to access the software is from the website of the cryptocurrency you intend to mine. This way, you can make sure that you will have the right software for a specific cryptocurrency and avoid fake programs. Most mining software are free to download and use. In addition, some cryptocurrencies have multiple software to choose from, and they are often available for various operating systems. It's always good to do your own research (DYOR) before choosing the mining software to understand their differences. Another helpful part of setting up the mining device is to create a strategy to monitor electricity costs. You can start by checking the previous electricity bills and evaluating how much the mining will cost. The unfortunate fact is that the energy consumption of a mining rig might result in you spending more money on electricity than the value earned from mining. In addition, remember that the mining rigs make noise and warm up. Therefore, consider placing them in a safe location where they are adequately cooled and notifying your neighbors about the possible extra hum. 5. Consider joining a mining pool Mining pools can help you as an individual miner in terms of hardware and electricity costs. As a block reward is granted to the first successful miner, it's very unlikely that you are the one to guess the correct hash. For example, even if you would run several high-powered ASICs, you would still be just a microscopic part of the total Bitcoin hashing power. Mining pools raise a bigger pool of mining power, so the chance of discovering the next block is increased. In other words, if you combine your hashing power with a mining pool,  you could possibly earn more than doing the mining alone. Mining pools typically have a coordinator who organizes the miners so they are less likely to make mistakes. For example, coordinators should ensure that miners use different nonce values to avoid wasting hash power. Often, coordinators are also responsible for splitting the mining rewards to each pool member.. Is cryptocurrency mining worth it? Mining is one of the possibilities that people can consider when trying to produce passive income streams. It can become low-effort once the miner setup functions correctly and is connected to the network. But, of course, it won’t be completely passive as it will demand tasks like hardware maintenance, software updates, paying electricity bills, etc. However, even though mining can be passive, it's not necessarily profitable. For example, the underlying cryptocurrency's volatility can result in smaller overall rewards than the miner's electricity costs. The profitability of a mining operation depends on its size and location. For example, the largest cryptocurrency mining farms are strategically located in countries with the lowest electricity costs. In addition, some places also have volatile electricity prices that can interfere with mining. Mining probably requires some time before you start profiting from it because of the initial investment in mining hardware. So, the first mining period may go into paying back the costs. In addition, as we learned before, the hardware can get old and inefficient, which may mean additional expenses. Therefore, cryptocurrency mining might require more investment into hardware after the initial investment. Some people choose to mine cryptocurrency purely to support the decentralization and security of blockchains. Sometimes, even without any goal of profit.   Closing thoughts Mining is essential for blockchains because it helps secure the network while creating and validating new blocks of transactions. While anyone can start cryptocurrency mining, it’s essential to consider the costs and risks.  Mining also requires a certain degree of technical knowledge, especially when acquiring and setting up your mining equipment. It’s important to do your own research and understand the specifics of the cryptocurrency you want to mine. You will also need to set up a crypto wallet to receive potential mining rewards. But, remember, the crypto ecosystem changes rapidly, so keep your eye on the project developments and updates because they can change how cryptocurrency mining happens.
Technical analysis of the leading cryptocurrency, Bitcoin, by Sebastian Seliga (InstaForex) - 27/10/22

Bitcoin Price May Hover Between $12K And $14K, DonAlt Predicts

FXStreet News FXStreet News 13.10.2022 16:49
Crypto market capitalization excluding Bitcoin sustains above the $518.92 billion level, as analysts predict an explosive breakout. Bitcoin price showed signs of resilience despite the sixth straight week of decline for the S&P 500. Analysts evaluate whether the Bitcoin price breakout is towards the $10,000 or the $29,000 level. Justin Bennett, a crypto analyst observed the trend in the crypto market capitalization excluding Bitcoin and predicted a massive breakout. The analyst argues that it remains undecided whether Bitcoin will hit the $10,000 or the $29,000 level. Crypto market heads towards a massive breakout - Rally or decline? Justin Bennett, an internationally recognized Forex trader and crypto analyst evaluated the total crypto market capitalization chart excluding Bitcoin and predicted a massive breakout. Bennett believes that the quiet period for cryptocurrencies is about to end and the longer a market coils, the more explosive the breakout. Bennett’s prediction is based on altcoin market capitalization that hovers around $518.92 billion at the time of writing. The analyst has asked traders to prepare for the breakout. It remains unclear whether the breakout will be in the upward or downward direction, however Bitcoin has shown its resilience sustaining above the $19,000 level despite the decline in the S&P 500. Despite Bitcoin’s correlation with the US stock market, the cryptocurrency has remained steady in the face of declining stock prices and rising inflation. In the latest update from the US Federal Open Market Committee (FOMC), the monetary policy maker assured that higher interest rates are here to stay. This implies traders would remain cautious in their approach towards risk assets like Bitcoin and cryptocurrencies. Bitcoin price to $10,000 or $29,000? DonAlt, a pseudonymous crypto analyst known for his accurate predictions has marked key price levels for Bitcoin, in a new video. While the analyst is unsure of a Bitcoin price rally to the $33,000 level, DonAlt believes BTC could either hit the area between $12,000 to $14,000, a common price target for Bitcoin bears or the $29,000 level. The $29,000 level is considered a key point in Bitcoin price trend as the asset will derisk at this point and DonAlt has revealed his strategy to shed his BTC holdings here. DonAlt’s Bitcoin price targets
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

Cryptocurrency Activity In The Middle East Continues To Grow

InstaForex Analysis InstaForex Analysis 14.10.2022 11:33
Crypto Industry News: Middle East's first Bitcoin ETP to be listed on NASDAQ DUBAI in UAE. Cryptocurrency activity in the Middle East continues to grow as the global integration of blockchain technology and digital assets continues to expand to every jurisdiction in the world. On Wednesday, 21 Shares, a global provider of cryptocurrency trading products (ETP), made its debut in the United Arab Emirates (UAE). The new trading product - Bitcoin ETP - is now available on the Nasdaq Dubai international financial exchange under the name -ABTC. Technical Market Outlook: The BTC/USD pair had tested the range low at the level of $18,150 and reversed aggressively back above the local trend line and towards the level of $20k. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The momentum remains strong and positive, which supports the short-term bullish outlook for BTC. The nearest technical support is seen at $18,944 and $18,856. The swing low and range low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,705 WR2 - $19,556 WR1 - $19,482 Weekly Pivot - $19,332 WS1 - $19,257 WS2 - $19,132 WS3 - $19,009 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 09:00 2022-10-15 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296826
WOOFi DEX Facilitates Spot Trading Of Popular Blue-Chip Assets (BTC,ETH)

WOOFi DEX Facilitates Spot Trading Of Popular Blue-Chip Assets (BTC,ETH)

Binance Academy Binance Academy 14.10.2022 12:15
TL;DR   WOOFi is an all-in-one decentralized application (DApp) built by WOO Network. The main goal of WOOFi is to enhance users’ experience with decentralized finance (DeFi) by providing reduced slippage, competitive swap fees, and other useful features. WOOFi users can swap popular digital assets and access income-earning opportunities like staking and providing liquidity to the network. One of the platform’s main value propositions for DeFi users is deep liquidity. Introduction Since 2020, decentralized exchanges (DEXes) have experienced rapid growth. In August 2022 alone, the monthly DEX total trading volume exceeded $66 billion. To meet the ever-growing demand for low-fee on-chain trading, WOO Network launched WOOFi in October 2021 and WOOFi DEX in June 2022. Together, WOOFi and WOOFi DEX offer a suite of tools from those enabling simple swaps all the way to professional trading interfaces. Learn more on Binance.com How does WOOFi work? WOOFi’s product offerings are designed to help DeFi users access competitive prices, low fees, tight bid-ask spreads, as well as a variety of yield-generating opportunities. The platform offers three main use cases: Swapping  By paying a minimal 0.025% fee with WOOFi Swap, users can swap popular, financially-sound, blue-chip assets within or across chains supported by WOOFi. Earning Anyone can deposit digital assets to earn competitive APYs through WOOFi’s single-sided staking solution, Supercharger Vaults. Single-sided staking requires users to stake only one type of token. This model incentivizes asset holders to provide liquidity to WOOFi, in turn enabling WOOFi to offer better liquidity to traders. Staking Token holders can stake their WOO tokens on the WOOFi platform to earn revenue from WOOFi’s minimal 0.025% swap fee. WOOFi Swap Unlike other DApps, WOOFi simulates the deep liquidity from WOO Network’s centralized exchange, WOO X, meaning users can enjoy DeFi services with more affordable, CeFi-grade prices. Other advantages of using this model include reduced slippage and increased resistance to sandwich attacks. Slippage refers to the difference between the asset’s market price and its actual price upon order execution. It is more likely to get wider when market conditions are volatile or when trading with low-liquidity assets, causing traders to buy or sell their assets for more or less than expected. WOOFi DEX Launched in June 2022, WOOFi DEX is WOO Network’s decentralized exchange powered by Orderly Network. The platform was designed to bring high liquidity, advanced trading tools, a customizable user interface (UI), and a transparent order book to NEAR protocol. WOOFi DEX helps connect traders with a platform that offers faster execution and lower fees, in addition to allowing traders to maintain custody of their assets.  WOOFi DEX facilitates spot trading of popular blue-chip assets like BTC, ETH, and NEAR. In the future, the platform is expected to expand its services and implement functionalities like margin trading, perpetual swaps, lending, and even borrowing. Bootstrapped by leading market makers like Kronos Research, AGBuild, and Ledger Prime, WOOFi DEX is positioned to deliver an improved DeFi trading experience that has the look and feel of a centralized exchange.  WOOFi Supercharger vaults WOOFi enables users to deposit a single token and earn competitive yields while maintaining complete exposure to their favorite assets. Up to 90% of the assets in the Supercharger vault can be borrowed by WOOFi’s liquidity provider at a fixed rate to provide liquidity to WOOFi. The remaining assets are deployed to third-party DeFi protocols for external yield farming. By hedging on WOO Network’s centralized exchange, WOO X, and therefore remaining market-neutral, WOOFi’s liquidity providers can ensure that there are always sufficient funds for users to withdraw upon request. This dual strategy enables depositors to directly benefit from two separate sources of revenue while providing liquidity to WOOFi. Users can request to withdraw their deposited assets with no fee or limit (except when the vault is under settlement) once the 7-day settlement cycle is complete. Ten percent of each Supercharger vault’s Total Value Locked (TVL) will be set aside each week for instant withdrawals, though a 0.3% withdrawal fee will be charged to prevent abuse of this system. What makes WOOFi unique? sPMM liquidity model Instead of adopting an automated market maker (AMM) model like most other DEXes, WOOFi leverages an innovative synthetic proactive market making (sPMM) approach to achieve deeper liquidity. The sPMM model aims to simulate the deep liquidity from WOO Network’s centralized exchange, WOO X, allowing the WOOFi Swap to offer lower slippage and competitive DeFi prices while staying decentralized. Protection against sandwich attacks A sandwich attack occurs when a malicious trader places one order before and one after a pending transaction on a DeFi protocol to manipulate asset prices. An exploiter thus pushes an asset price up by placing a bid at a higher price than a victim’s pending bid price. When the victim buys at the higher price, the attacker can sell their asset at the new, artificially inflated price.  Sandwich attacks are common among large traders who swap assets with AMM-based DEXes. Since AMM price discovery is driven by the token balances in the liquidity pool, attackers can take advantage of this transparency to inflate prices. In contrast, WOOFi’s sPMM price discovery is determined by the parameters of on-chain price feeds instead of pool liquidity. Bad actors will not be able to predict prices based on token balances. The DEX that pays for order flow Currently, WOOFi has a broker program in place, where it pays 0.5 basis points (bps) on the volume sent by third-party DApps as a rebate.  What is WOO?   WOO is the native token used by WOOFi and the larger suite of WOO products. It provides staking rewards, fee discounts, and governance rights across the WOO Network ecosystem.  How to buy WOO on Binance?   You can buy WOO on cryptocurrency exchanges like Binance.  1. Log in to your Binance account and go to [Trade] -> [Spot].  2. Type “WOO” on the search bar to see the available trading pairs. We will use WOO/BUSD as an example. 3. Go to the [Spot] box and enter the amount of WOO you want to buy. In this example, we will use a Market order. Click [Buy WOO] to confirm your order, and the purchased WOO will be credited to your Spot Wallet. Closing thoughts   The unique liquidity model that WOOFi uses was designed to mimic a traditional exchange’s order book to offer key benefits like deeper liquidity, more competitive prices, and overall a better DeFi trading experience. Those looking for reduced slippage can check out WOOFi and the larger WOO ecosystem for more information.
Bitcoin Has A Sign Of The Sideways Regime

The Bitcoin Enthusiasts And Their Favorite For The Nobel Prize - Satoshi Nakamoto

InstaForex Analysis InstaForex Analysis 17.10.2022 09:38
Crypto Industry News: Bitcoin enthusiasts renewed their annual petition to award the Nobel Prize in Economic Sciences to Satoshi Nakamoto. On October 10, the Royal Swedish Academy of Sciences announced three economic award winners - former Federal Reserve chairman Ben Bernanke and US economists Douglas Diamond and Philip Dybvig - for "research into banking and financial crises." Many cryptocurrency enthusiasts have argued over the years that Nakamoto, the anonymous creator of Bitcoin, was the most deserving candidate for an economic prize, first established in 1968, "following the same principles as the Nobel Prize awarded since 1901." Some crypto enthusiasts have said earlier that Satoshi deserves more than just an economic reward. There are opinions on the internet that the creator of BTC deserved the Nobel Peace Prize for establishing "a currency that can assume the status of a global reserve without engaging in violence." It is unclear if Nakamoto would have been eligible for the award given that his identity has never been revealed to the public. It may make more sense to honor other famous early contributors to the ecosystem such as former BTC lead developer Gavin Andresen or developer and recipient of Bitcoin's first transaction, Hal Finney. However, Finney died in 2014, and according to the Nobel Foundation's statute, the Nobel Prize "cannot be awarded posthumously." Technical Market Outlook: The BTC/USD pair bounce had been rejected from the level of $19,950 after a Bearish Engulfing pattern was made at the H4 time frame. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The momentum remains positive, which supports the short-term bullish outlook for BTC. The nearest technical support is seen at $18,944 and $18,856. The swing low and range low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,510 WR2 - $19,356 WR1 - $19,287 Weekly Pivot - $19,202 WS1 - $19,133 WS2 - $19,048 WS3 - $18,894 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 09:00 2022-10-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297022
Technical Outlook Of The Further Movement Of Bitcoin

Bitcoin (BTC/USD) Have To Confirm Further Direction

InstaForex Analysis InstaForex Analysis 17.10.2022 09:49
Technical analysis: BTC/USD has been trading sideways at the price of $19.300. Watch for the price action around key pivot points to confirm further direction. Trading recommendation: In case of the of the breakout of resistance at $19.500, watch for buying opportunities with the upside objective at $20.400 In case of the breakout of the support at $19.000, watch for selling opportunities with the downside objective at $18.300     Relevance up to 09:00 2022-10-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297032
Market Focus: European Data Releases, ECB Survey, US FOMC Minutes, and UK Bond Supply

Across The Forex Board, The New Zealand Dollar (NZD) Emerges As The Strongest

TeleTrade Comments TeleTrade Comments 18.10.2022 09:20
Here is what you need to know on Tuesday, October 18: The US dollar resumes its bearish momentum on Tuesday, having lost the recovery momentum in the Asian session, as risk flows extend into the second straight day following the UK's dramatic U-turn over the tax-slashing mini-budget. The US S&P 500 futures, the risk barometer, is gaining roughly 1.70% so far while the Asian indices rally 1.20% to 1.80%, led by the rebound in the Chinese stocks. In early dealing, China’s stocks turned south after the country’s junk dollar bonds dropped to a record low, as a property market crisis sparked by a crackdown on excessive borrowing. Meanwhile, Chinese traders digested comments from US Secretary of State Antony Blinken. The US official said on Monday, China has made a decision to seize Taiwan on a “much faster timeline” than previously thought. Across the fx board, the Kiwi dollar emerges as the strongest heading into the European open, followed by its Antipodean partner, the aussie. Meanwhile, the yen pulled away from 32-year highs above 149.05 against the US dollar, dragged lower by weaker Treasury yields and Japanese verbal intervention. Top Japanese officials continued their jawboning, reiterating that they are ready to take necessary steps to avoid undesirable, as they watch the FX price action with a sense of urgency. USD/JPY was last seen trading around 148.85, consolidating the upside before the next push higher. NZD/USD surges over 1% to challenge 0.5700, as hotter New Zealand’s Q3 Consumer Price Index (CPI) ramped up bigger RBNZ rate hike expectations. NZ inflation rose by 2.2% QoQ in the third quarter, beating expectations of a 1.6% increase. Meanwhile, the annualized inflation eased from a 32-year high of 7.3% to 7.2%, although outpaced expectations of +6.6%. Hawkish comments from RBA Assistant Governor Michele Bullock and RBA minutes underpin the sentiment around the AUD/USD pair, as they suggest the need for more rate increases in the coming months. EUR/USD also capitalized on retreating Treasury yields and a renewed broad-based US dollar selling, having recaptured the 0.9850 barrier. Although bulls remain cautious ahead of the German and Eurozone ZEW sentiment surveys. Germany’s Economy Minister Robert Habeck said on Monday that “with fiscal policy in place, they can avoid deep recession in Europe without fuelling inflation.” GBP/USD is fading an uptick above 1.1400, as investors assess the Financial Times (FT) report that stated the Bank of England (BOE) is set to delay quantitative tightening (QT) worth £838bn until bond markets calm. The report comes after the new UK Chancellor Jeremy Hunt ditched almost all of the mini-budget announced by PM Liz Truss on September 23. The gains in cable appear short-lived, as PM Truss braces for political challenges, with Tory backbenchers preparing to oust her. Gold is holding its recovery momentum above the $1,650 barrier but is likely to remain in a defined range until buyers reclaim the critical $1,670 hurdle. The softer dollar keeps lending support to the metal. Bitcoin price is gradually pushing higher while above $19,500 but bulls stay cautious amid a wall fall of healthy resistance levels on a daily timeframe.
The Bitcoin Price Movement Is In The Bullish Channel

Mastercard Is Going To Launch A Program To Help Banks And Financial Institutions Offer Cryptocurrency-Based Products

InstaForex Analysis InstaForex Analysis 18.10.2022 09:45
Crypto Industry News: Payment giant Mastercard is taking another step towards further involvement in the crypto space with the goal of developing its core business model. According to a media report, the company will launch a program that will help banks and financial institutions offer cryptocurrency-based products. The initiative is one of many taken by the company to integrate crypto into its business model. According to the report, Mastercard will launch a pilot program in the first quarter of 2023. The initiative will be available to selected banking institutions to enable them to launch crypto trading products. In the coming years, the program will be extended to further regions and institutions. Mastercard will act as a "bridge" alongside Paxos, a trading platform that already offers similar services to companies such as PayPal. In late 2020, PayPal and Paxos announced a partnership to provide Americans with access to Bitcoin and other cryptocurrencies. Partners act as a "link" between digital assets and investors. They deal with protection, compliance and security. The Paxos and Mastercard transaction are subject to similar terms. The payment giant conducted surveys and other studies to assess sentiment around cryptocurrencies and concluded that most still want access to these assets. Respondents, as their research shows, would prefer to obtain exposure through their local bank and other financial institutions. Technical Market Outlook: The BTC/USD pair bounce had been rejected from the level of $19,950 after a Bearish Engulfing pattern was made at the H4 time frame. There is still missing one more wave to the downside in order to complete the Falling Wedge pattern. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The momentum remains positive, which supports the short-term bullish outlook for BTC. The nearest technical support is seen at $18,944 and $18,856. The swing low and range low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,510 WR2 - $19,356 WR1 - $19,287 Weekly Pivot - $19,202 WS1 - $19,133 WS2 - $19,048 WS3 - $18,894 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.     Relevance up to 06:00 2022-10-19 UTC+00 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297194
Another Blow To The Cryptocurrency Industry, Ferrari Removal Of Velas From Its List Of Partners

The Ethereum's Upward Movement Depends On Signals On BTC And S&P 500

InstaForex Analysis InstaForex Analysis 18.10.2022 11:49
Ethereum continues to fluctuate within the narrow range of $1,150–$1,400 for exactly a month. The main altcoin made attempts to go beyond the range, but low trading volumes did not allow the asset to realize impulses. Despite this, the situation is changing for the better in the short term. Ethereum managed to successfully gain a foothold above $1,300, which opens up the possibility of an upward movement to $1,500 and $1,600 for the altcoin. However, for the final resumption of growth, the asset needs to gain a foothold above $ 1,340. After the formation of the second bullish candle in a row on the daily timeframe, the asset takes a pause. The RSI index and the stochastic oscillator remain in the bullish zone, but are turning sideways. The MACD is also moving flat, which indicates the absence of strong bullish momentum. Therefore, the current increase in ETH should be considered in the short term. Ethereum on-chain activity The main on-chain indicators of Ethereum are at below average levels. However, there is a tendency to increase trading volumes and the activity of unique addresses in parallel with the upward movement of the asset price. This is a positive signal indicating the probability of the continuation of the upward trend of the cryptocurrency. Analysis of BTC, SPX, and DXY A full-fledged upward movement of Ethereum is impossible without positive signals on BTC and S&P 500. On the daily chart, we see a similar upward movement of the stock index and Bitcoin. Thanks to this, the entire crypto market took a small step upward and the market capitalization grew by 1.5%. At the same time, the US dollar index has moved to a phase of local decline, which gives the stock market and Bitcoin additional fuel for growth. Given this, high-risk assets will continue to grow as the DXY index corrects. However, the current state of the global economy and the Fed's policies lead to the conclusion that the current upward movement in assets is short-term. Crypto Market and ETH News After the Merge update, Ethereum lost about 20% of its market capitalization, which led to the leveling of some of the new features of the altcoin. For example, ETH stopped being deflationary after a massive drop in trading activity on the cryptocurrency network. Ethereum also has problems with censorship, as about 50% of validators can block transactions in accordance with US sanctions. The volatility of the cryptocurrency market has fallen to a minimum, which indicates a significant decrease in investment interest. Meanwhile, Bitcoin is approaching the 2018 cycle low. The asset has been at the bottom of 886 since the halving. In 2018, the duration of being at the bottom was 891 days. Given the propensity of bear markets to lengthen, we expect to be within the current ranges for at least a month. 98% of leaders of large companies expect a recession in the US economy in the next 12–18 months. It is these terms that should be used when analyzing the likelihood of a radical change in the situation in the crypto market and in the global economy. Conclusions Ethereum made a successful but insignificant maneuver in the overall price dynamics. Altcoin can reach the $1,500–$1,600 level if on-chain activity continues to grow with the price. However, this will not fundamentally change the situation on the market. This is a great opportunity for active traders, but the only thing left in the long-term strategy is to buy and accumulate.   Relevance up to 07:00 2022-10-19 UTC+00 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/324590
Alphabet Reports Strong Q2 2023 Results with Growth in Advertising and Cloud Services - 24.07.2023

The Australian Dollar (AUD) Did Not Do Well | Bitcoin Is Still Showing Resilience

Craig Erlam Craig Erlam 18.10.2022 12:45
Asian stocks were flashing green on the second day of trading, while Europe is poised to open in a similarly positive manner as sentiment continues to improve, albeit from very low levels. There’s still a strong feeling of a bear market rally about trading over the course of the last week. From the post-US-inflation rebound to what has now been a strong start to the week – in part driven by the UK’s decision to no longer shoot itself in the foot – nothing about this screams sustainable. Of course, the last couple of months have been tough for equity markets since peaking towards the end of the summer and a rebound of some kind was going to happen eventually. I’m just not convinced there’s much substance behind it as the economic landscape looks treacherous and we don’t even know if we’re at peak inflation and interest rate pricing yet. Those are substantial headwinds that will make any stock market rebound extremely challenging. RBA concerned about the outlook as it slows the pace of tightening The RBA minutes, along with comments from Deputy Governor Michele Bullock alluded to the outlook as contributing to the decision to slow the pace of tightening at the last meeting to 25 basis points. While the central bank will continue to hike rates in order to fight inflation – highlighting the broad-based pick-up in prices and higher wages – it’s clearly uneasy about the economic consequences and the lags in policy after hiking rates 2% over the course of four months since the summer. The Aussie dollar has not performed well in that time, falling around 15% from its June highs against the greenback, although it has rallied a little overnight. When will Japan intervene again? The yen remains under pressure despite desperate attempts by Japan to influence the currency markets through direct and verbal intervention. Last month’s intervention was substantial but short-lived and the commentary before and after has fallen on deaf ears. Overnight there was more of the same – “a high sense of urgency”, “will take appropriate action decisively” – and even a refusal to comment on whether the Ministry of Finance is conducting “stealth FX intervention”. If it is, it isn’t working particularly well, with the yen now very close to 150 against the dollar, a level that may make traders a little nervous. Another big intervention may soon be on the cards, although Japanese officials may be uneasy about the limited effectiveness of the last. What more can and will they do? The environment remains challenging Bitcoin has its sight set on $20,000 once more as it continues to bounce back from last week’s plunge. The sell-off occurred around the release of the US CPI data which could have sent it spiralling lower but risk appetite more broadly quickly bounced back and so did bitcoin. Whether it can continue to do so unless sentiment improves more sustainably is another thing. It continues to show resilience around $18,000 – $20,000 where it’s traded for most of the last couple of months but that may not be enough if risk appetite worsens again. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Bitcoin May Start Further Downside Movement

InstaForex Analysis InstaForex Analysis 19.10.2022 08:43
Technical analysis: BTC has been trading downside this morning and I found the breakout of the tight triangle in the background, which is good sign for further downside movement. Trading recommendation: Due to the breakout of the triangle pattern I see potential for further drop towards downside references. Watch for the potential selling opportunities with the downside objectives at $19.000 and $18.400. Stochastic oscillator is showing fresh bear cross, which is strong sign that sellers are in control. Key resistance is set at the price of $19.440   Relevance up to 06:00 2022-10-20 UTC+00 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297395
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Cryptocurrency: Bitcoin Listed In... Guiness World Records 2023!

Alex Kuptsikevich Alex Kuptsikevich 19.10.2022 10:30
Bitcoin and Ethereum Bitcoin is back at $19.3K, which has been the case for seven of the last eight mornings. Attempts to build on the upside have again been met with increased selling. A perfect month-long flat has led us to see the rate lose 1.5% in 24 hours, add 0.8% in 7 days and 2.4% in 30 days. Ethereum trades near $1300, losing 2.4% in 24 hours, but is up 0.65% in 7 days. That seemed impossible, but Bitcoin found room to move further into the corner of the triangle, pulling back from its upper boundary, and the 50-day moving average acts as resistance now. All this suggests that the financial world is waiting for other clear signals, ready for a strong move in either direction. That said, we continue to be inclined to believe that the exit from this lull will be up rather than down - the decline has been too long and too much negativity is already embedded in prices. At the same time, well-known crypto blogger Ton Weiss said that Bitcoin could drop to $11,000 before it rises again. In his view, BTC is forming a downward triangle, like the 2018 triangle, when the first cryptocurrency's exchange rate nearly halved. According to another option, BTC will continue to consolidate in a sideways range until the end of the year. Interpol to fight with crypto crime The decline in implied and realised volatility towards historical lows bodes well for a surge in volatility soon, Glassnode warned. Bitcoin was listed in the latest edition of the Guinness World Records ("Guinness World Records 2023") as the oldest cryptocurrency, the first decentralised cryptocurrency and the most expensive cryptocurrency. Ethereum co-founder Vitalik Buterin said that network validators should be tolerant and not censor transactions that do not match their beliefs. The UK Financial Conduct Authority (FCA) has reported that cryptocurrency fraud has come out on top regarding complaints from aggrieved investors. Lastly, Interpol has set up a dedicated unit to tackle cryptocurrency crime. The team, based in Singapore, will assist law enforcement agencies in different countries in investigations related to digital assets.
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

Regulators Focus On Making Digital Assets More Environmentally Friendly

InstaForex Analysis InstaForex Analysis 19.10.2022 12:22
Crypto Industry News: After the European Union rejected the Proof of Work-based cryptocurrency ban, regulators are now focusing on finding a way to make digital assets more environmentally sustainable in the near future. On 18 October, the European Union published a package of reports on the Action Plan for the implementation of the European Green Deal and the REPowerEU Plan. The aforementioned projects are aimed at introducing an economical energy consumption system through the digitization of this sector. The European energy specialist turned their attention towards the cryptocurrency market. The REPowerEU plan was presented in May this year as a response to the Russian invasion of Ukraine. The attack by the Russians on our neighbor caused major difficulties on the European energy market. "The resulting crisis was one of the factors to" rapidly accelerate the clean transformation "- the European Commission said. - "Controlling energy consumption in the ICT sector" is a key element of this plan, which involves the use of blockchain technology in the energy market. The "Commission Staff Working Document" emphasizes that 10% of the world's cryptocurrency mining takes place in Europe. Germany and Ireland are on the European podium, and Sweden has recently recorded a significant leap in mining activity, after China led to an exodus of miners with its ban. We learn from the report that the European Securities and Markets Authority is working on developing special technical standards for the cryptocurrency mining industry. The authors of the document refer to a report prepared by the think tank European Blockchain Observatory and Forum (EUBOF), which discussed "potential policy options that may be justified to mitigate the negative impact on the climate of technologies used in the crypto asset market." The EU has announced that a specialist report on the environmental impact of digital assets will be prepared by 2025. If an institution decides to take certain steps on the EUBOF's recommendations, it will mean: "the world's first attempt to reduce the attractiveness of bitcoin investments and reduce the price of bitcoin." Technical Market Outlook: The BTC/USD pair bounce had been rejected from the trend line resistance seen around the level of $19,600 and is heading lower. There is still missing one more wave to the downside in order to complete the Falling Wedge pattern. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The momentum remains positive, which supports the short-term bullish outlook for BTC. The nearest technical support is seen at $18,938 and $18,854. The swing low and range low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,510 WR2 - $19,356 WR1 - $19,287 Weekly Pivot - $19,202 WS1 - $19,133 WS2 - $19,048 WS3 - $18,894 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.     Relevance up to 08:00 2022-10-20 UTC+00 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297455
In Crypto, You Could Prove You Own A Private Key Without Revealing It

It All Started With Bitcoin, This Is Why BTC Indicates The State Of The Entire Cryptocurrency Market

Binance Academy Binance Academy 19.10.2022 14:07
TL;DR Bitcoin dominance is the share of the original cryptocurrency, BTC, in the entire crypto market’s capitalization. For quite some time since its inception in 2009, bitcoin remained the only digital asset in existence and thus, naturally, solely accounted for all the crypto market’s capitalization. However, over time, things started to change. The year 2013 saw the first wave of altcoins that added their value to the crypto market cap’s formula. 2015 was the birth of Ethereum — Bitcoin’s closest rival that spawned the currency ether — and then, in 2017, the ICO boom resulted in BTC dominance further diluted and hitting an all-time low, only to recover to above 50% in a few months. Today, BTC dominance faces its heaviest competition in DeFi, NFT and metaverse tokens, and over 20,000 non-bitcoin cryptocurrencies. Introduction Bitcoin, the world’s first cryptocurrency, was launched to the public in 2009 by an anonymous developer or group of developers known as Satoshi Nakomoto. Since then, despite the emergence of competition, bitcoin has remained the world's largest and most valuable cryptocurrency. Its underlying technology has also inspired the development of thousands of new cryptocurrencies collectively known as alternative coins, or altcoins.  Bitcoin’s standing against the rest of digital assets continues to be hugely important and indicative of the state of the overall crypto market. To measure bitcoin’s market cap relative to the larger crypto market, traders and analysts use a ratio called bitcoin dominance, also known as BTC dominance. Learn more on Binance.com What is BTC Dominance? BTC dominance is the share of bitcoin in the crypto market’s overall value. It is calculated by dividing BTC’s market cap by the total cryptocurrency market cap.  But why is it important? Historically, traders have used BTC dominance to help understand whether altcoins are on an up or downtrend against bitcoin. For example, one popular theory is that the crypto market is heading into a bull market if altcoins are trending up. In 2017, for instance, a significant decline in BTC dominance signaled altcoin prices skyrocketing (rather than BTC price declining), coinciding with the entire market entering a bull phase. From One Cryptocurrency to Thousands In 2011, the first altcoin, litecoin, was born, and in 2013 — dubbed “the year of the bitcoin” by Forbes magazine — the number of new altcoins entering the market began to rise quickly. By May 2013, the crypto market counted at least ten tokens, including litecoin (LTC) and Ripple’s XRP.  Concurrently, bitcoin’s price skyrocketed as more investors discovered the digital asset space for the first time. Yet, even with a few newcomers to compete against, BTC dominance remained at around 95% during this period.  The birth of Ethereum In 2015, Vitalik Buterin and a team of developers launched the Ethereum (ETH) network. It set to rival Bitcoin as a blockchain that allowed more use cases beyond financial services like the transfer of money. Unfazed by the competition in Ethereum’s native token, ether (ETH), bitcoin continued to account for around 90-95% of the crypto market. Things only started to change in 2017 — the start of the initial coin offering (ICO) boom. ICO fever  Initial coin offerings (ICOs), a popular crowdfunding method for early-stage crypto projects, became a prominent trend from 2017 to 2018. There were around 2000 unique ICOs during this period, with over $10 billion raised cumulatively. Funds began flowing from bitcoin into many of the newer altcoins that surfaced at that time. Some investors believed in the compelling, yet unproven, use cases, while some were more interested in profiting off dramatic price swings.  The unprecedented influx of altcoin competition resulted in bitcoin dominance experiencing its first major decline, dropping to an all-time low of around 37% in January 2018.  2018’s crypto winter While it had generated considerable attention toward crypto, the ICO boom was ultimately short-lived. Investors realized that many ICO projects lacked core fundamentals or had questionable business practices. Some projects even became the target of regulatory scrutiny by the U.S. and other authorities. This increase in negative sentiment eventually overtook the industry, sending the entire crypto market into a prolonged period of price decline and stagnation. Bitcoin’s recovery With many altcoins’ value tanking and investors’ general disillusionment in ICOs, BTC dominance gradually climbed back to over 50% by the final months of 2018.  In 2019, bitcoin’s price experienced a slight resurgence, trading at around $7,000 by the end of the year, while BTC dominance peaked at about 70% in September. The digital asset, however, would remain relatively still until the COVID-19 pandemic struck the world in 2020. The COVID market Beginning in 2020 — in the aftermath of a short, COVID-fulled dip — the crypto market would enter a record-breaking bull run. Simultaneously, BTC dominance would reach 72% in January 2021, its highest tally since 2017, before collapsing to 39% by mid-2021.  With the looming pandemic, many people, bored and stuck at home, turned to day trading and investing to pass the time. Meanwhile, to offset the pandemic’s economic downturn, governments around the world issued cash handouts to stimulate their struggling economies. Retail traders invested a considerable portion of these funds in stocks, forex, or the crypto market for the first time. Now, following all the media attention to crypto during the latter half of 2020, altcoins became an increasingly attractive, albeit risky, choice for retail investors, especially newcomers looking for quick gains. For example, shiba inu (SHIB) saw its price go up more than 40 million percent in 2021.  Further, the rapid growth of innovations like decentralized finance (DeFI) and NFTs, which primarily exist on competing blockchains like Ethereum and Solana (SOL), contributed to bitcoin losing more of its market share. Solana’s price, for example, increased from $1.50 to an all-time high of $250 in 2021 after gaining significant institutional and retail interest in its underlying technology.  Since then, BTC dominance has struggled to climb over 50%. BTC dominance’s recent slow growth may have something to do with ETH 2.0, Ethereum’s long-awaited switch to proof-of-stake, and the ongoing bear market.    Clothing Thoughts In recent years, the growth of the altcoin market has diluted bitcoin’s market share. Unlike the early years, when there were very few competitors, bitcoin now competes against DeFi tokens, the increasingly popular NFT sector, and thousands of other cryptocurrencies.  Even so, bitcoin is still the leading cryptocurrency in terms of market cap, with BTC dominance unlikely to go away anytime soon. For starters, many investors see bitcoin as a store of value because of its finite supply — hence the nickname “digital gold.” But most importantly, bitcoin’s status as the industry’s first-ever cryptocurrency has given it a competitive edge in the digital asset market. However, history has shown if something better comes along, that first-mover advantage won’t last very long. It remains to be seen if there’ll ever be another cryptocurrency to dominate the crypto market as much as bitcoin has so far.
At The Close Of The New York Stock Exchange 728 Securities Closed In The Red

Netflix's Results Will Be A Hit On The Wall Street | The Bank Of England (BoE) Will Have To Be Very Aggressive

Craig Erlam Craig Erlam 19.10.2022 14:34
Trading is mixed in Europe on Wednesday, with Wall Street eyeing a slightly stronger open amid bumper Netflix earnings. Netflix is a hit Netflix results are expected to be a hit on Wall Street when the bell rings on Wednesday, with pre-markets pointing to a more than 13% rally in the stock. The streaming company reported revenues and earnings that comfortably surpassed expectations, while subscriber growth more than doubled forecasts. That was largely driven by the Asia-Pacific region which will become increasingly important for growth in the coming years. The company will continue to crack down on password sharing going forward, while the ad-supported plan will hope to draw in additional subscribers. After a tough year, things may be looking up for Netflix. UK inflation back in double-digits Inflation in the UK surpassed 10% again in September, slightly beating market expectations and further fueling concerns about the cost of living crisis and the role of the Bank of England in reining in rapid price increases. Naturally, all of this has been complicated by the political soap opera over the past few weeks, something the new Chancellor, Jeremy Hunt, has sought to calm by abandoning almost the entire controversial mini-budget. But inflation is still a problem, regardless, and the BoE will have to be very aggressive at upcoming meetings in order to try and get a grip of it. Markets are now undecided between a 75 and 100 basis point hike on 3 November but are quite confident that Bank Rate will end the year at 4% either way. With inflation now broad-based and fuel even offsetting some of the larger price increases, the worry is that these forecasts may prove too optimistic. ​ Intervention talk ramps up as USDJPY nears 150 Japan remains in focus as the dollar closes in on 150 against the yen. The threats of intervention have been coming thick and fast and many are wondering if 150 could be the point at which the Ministry of Finance pushes back once more. The last intervention wasn’t particularly successful, with the benefits unwinding in a matter of days. The question now is when they’ll jump back in and how forceful they’ll be. The message is clearly falling on deaf ears at the moment. Continuing to fluctuate Bitcoin continues to consolidate, with the recent rebound failing once more around $20,000. That level was once believed to be hugely significant as support but the reality is that it has simply become the point at which the price fluctuates around. That will change eventually but we’re now two months into that broadly being the case so there’s little to suggest it’s imminent. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
The FTX Bankruptcy Exposed Vulnerabilities In The Crypto System

Santiment - Classifies Bitcoin (BTC) Investors As Whales

InstaForex Analysis InstaForex Analysis 20.10.2022 08:30
Crypto Industry News: As the on-chain data shows, whales have been selling a large amount of their bitcoins for several months. In the same period, the number of portfolios of smaller BTC investors reached new ATH. A leading analytical company from the blockchain market - Santiment - classifies BTC investors as whales, who own a number of 100 to 10,000 BTC. The company said in a recent Twitter post that the amount of BTC stored in whale wallets is declining. The downward trend could be seen strongly in September, however, at some point, the trend was reversed when the bitcoin rate temporarily jumped at the end of the previous month. Even so, the first cryptocurrency failed to maintain its gains, and the whales began to shed their digital assets. Currently, this group of investors owns only 45.6% of the total supply of bitcoin. It is also the lowest figure in 3 years. Technical Market Outlook: The BTC/USD pair bounce had been rejected from the trend line resistance seen around the level of $19,600 and is heading lower. There is still missing one more wave to the downside in order to complete the Falling Wedge pattern. The momentum is weak and negative on the H4 time frame chart, which supports the short-term bearish outlook for BTC that should result in another down wave. The nearest technical support is seen at $18,938 and $18,854, however, the target for bears is the swing low and range low seen at the level of $18,150. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. Weekly Pivot Points: WR3 - $19,510 WR2 - $19,356 WR1 - $19,287 Weekly Pivot - $19,202 WS1 - $19,133 WS2 - $19,048 WS3 - $18,894 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 07:00 2022-10-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297561
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Concerns Around The Lack Of Publicity Of Aptos Tokenomics | New Version Of Flashbots Ethereum Software

Crypto.com Accelerate the... Crypto.com Accelerate the... 20.10.2022 10:01
Weekly DeFi Index This week’s market cap, volume, and volatility indices were positive at +3.29%, +13.50%, and +73.12%, respectively. Check the latest prices on Crypto.com/Price DeFi Index Tokens News Highlight Uniswap, a decentralised exchange protocol operating on Ethereum, will soon be deployed on privacy-focused Layer-2 tool zkSync. The proposal was put forth by Matter Labs, the developer behind zkSync, and was passed following a 100% community vote in favour of the move. According to Matter Labs, deploying to zkSync will allow Uniswap to offer lower transaction costs compared to the Ethereum blockchain without compromising security. This also follows Uniswap Labs’s latest announcement that it raised US$165 million in Series B funding led by Polychain Capital.  Aptos finally hit the mainnet after years of development, but the rollout so far has been met with criticism. Months prior to launch, Aptos claimed that it can handle 130,000 transactions per second (TPS) — significantly more than other layer-1 solutions like Ethereum and Solana — but it was observed to only have reached a speed of 4 TPS at launch. A pseudonymous user tweeted: “majority of these transactions are not actual transactions, they are merely validators communicating and setting block checkpoints and writing metadata to the blockchain”. There were also concerns around the lack of publicity of its tokenomics, despite the fact that most centralised exchanges already announced listing Aptos’s native token on their platforms.  On Friday, The Ethereum Foundation announced the launch of ‘Shandong’, an early pre-Shanghai testnet that will serve as a testing ground for numerous Ethereum Improvement Proposals (EIPs). Shanghai is Ethereum’s next major upgrade post-Merge, and will introduce code that will allow network validators to withdraw their staked Ether. DEX Protocols Metrics Lending Protocols Metrics Charts on Layer-2 Projects The overall L2 market saw positive growth last week, as its TVL rose by +0.78%. Optimistic rollup projects jumped by +3.29%, while zero-knowledge rollup projects fell by -5.63%. Ethereum’s TVL change was positive at +0.61%. The TVL changes for all optimistic rollup projects were all positive except for Layer 2.Finance (-0.45%). Metis Andromeda surged the most at +12.90%. ZK rollup projects’ TVL movement was a mixed bag: StarkNet saw the highest growth at +8.24%, while Loopring plummeted the most at -9.09%. Further Reading Flashbots reveals new version of its key Ethereum software BlockTower launches $150M fund to Invest in blockchain infrastructure and DeFi Tether ditches commercial paper reserves for T-Bills Crypto market maker Wintermute pays off $96M TrueFi debt weeks after being hacked Mango Market’s DAO forum set to approve $47M settlement with hacker Moola Market exploited for $8.4 million Moran Hard Fork: BNB Smart Chain set to execute a hard fork as temporary patch fix for its $100 million exploit Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

Breakout Mode Is Possible In Bitcoin's Movement

InstaForex Analysis InstaForex Analysis 20.10.2022 11:36
Technical analysis: BTC/USD has been trading sideways at the price of $19.135 and there is potential for the breakout mode. Trading recommendation: In case of the upside breakout of resistance at $20.440, watch for buying opportunities with the upside objective at $22.800 In case of the downside breakout of the support at $18.150, watch for selling opportunities with the downside objective at $16.000   Relevance up to 09:00 2022-10-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297597
The Crypto Market Is Also Highly Volatile, So Drastic Price Swings Require Traders To Think Fast

We're past The Ethereum Merge, now we start to think about next Bitcoin halving which may happen quite shortly

Conotoxia Comments Conotoxia Comments 20.10.2022 14:00
Recently, investors and speculators in the cryptocurrency market seemed to focus on Merge ETH and the transition from PoW to PoS. This event is now behind us, and for the moment it does not seem to affect the ETH price particularly. Meanwhile, after a deep bear market, the topic of bitcoin halving may soon come to mind. This event may take place in April 2024. Halving bitcoin About once every 4 years, or more precisely every 210000 blocks, the issuance of new bitcoin is halved. This is due to the BTC algorithm, which was created in 2008, where every 4 years or so the reward to miners halves. The process should continue until there are no more than 21 million BTCs in the world, which could be around 2140. By now, more than 90 percent of the total supply of bitcoin is already on the market, while by 2030, at this rate of new coin creation, there could already be 98 percent of the total supply on the market. The halving phenomenon, in turn, is supposed to be responsible for controlling the deflationary nature of this cryptocurrency. With each successive halving, BTC becomes a rarer good and its inflation rate decreases. Today, bitcoin's inflation rate is 1.78 percent. After the next halving, in April 2024, this inflation rate will drop to 1.1 percent, etfstream calculates. What has been the history of BTC halving? As already mentioned, every 4 years or so, there is a processing of 210000 blocks, which halves the amount of reward miners receive. Bitcoin went public in January 2009. At that point, the incentive given to miners for supporting the blockchain and verifying the network was 50 BTC. The first halving of bitcoin took place when 210000 blocks were successfully mined, and this occurred on November 28, 2012. At that time, the reward dropped from 50 to 25 BTC. Another 210000 blocks were processed on July 9, 2016. The reward halved from 25 BTC to 12.5. In 2020, the reward was already only 6.25 BTC, and in 2024, according to the algorithm, it will be 3.125 BTC. Source: Conotoxia MT5, BTC/USD, MN Bear market vs. time after bitcoin halving Why are we writing just now about an event that will not take place until April 2024? The reason may be the potential cycles of the BTC market, which has seen spectacular increases and massive corrections. Nevertheless, after the halving, the BTC price reached its bottom in a correction for about 29 months after the event. The last halving took place in May 2020. So now it is just 29 months since the reduction of the miners' reward, and the market seems to be in a strong correction. If history and the cycles of BTC were to repeat itself, it seems that the current fall could be significant for this market. Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
The South America Are Looking For Alternatives To The US Currency

Craig Erlam Talks Tesla (TSLA), Bitcoin, COVID And More

Craig Erlam Craig Erlam 20.10.2022 23:49
An absolute shambles Another UK Prime Minister has resigned and I’ve now lost count of how many Chancellors we’re going to be up to if Jeremy Hunt is also replaced next week. Liz Truss’ position was hanging by a thread and has been since the mini-budget but that unravelled at a remarkable pace. And now the UK is once again waiting to see who will be the next Prime Minister and how the process will be decided. Truss has no doubt been an unmitigated disaster and I’m not sure who exactly will make the country feel at ease at this point. There will obviously be calls for a general election but that won’t provide any certainty or leadership for the country in the midst of a crisis. It would appear there are only bad options on the table so we probably shouldn’t expect a positive outcome. Oh, and Boris is apparently entering the race. Tesla on the right track? Despite Elon Musk’s best efforts to talk up Tesla’s performance and outlook, shares are trading 4% lower and almost 50% from their high almost 12 months ago. No doubt the company has weathered the storm of the last few years relatively well but the global economic outlook has deteriorated significantly in that time, as Musk acknowledged, and the miss on revenue may be seen as a concern. Still, he remains very optimistic – to put it mildly – eyeing a path to the company being more valuable than Apple and Saudi Aramco combined. He never has been short of ambition. China mulls easing Covid quarantine as LPRs left unchanged Asian markets appear to have been boosted in the middle of the session by reports that the leadership is debating a reduction to Covid quarantine for inbound travellers. While a very small tweak and still desperately lagging behind the rest of the world where zero restrictions are now the norm, it is a step in the right direction. Although I don’t think anyone should celebrate a grand economic revival just yet. Meanwhile, the one and five-year LPRs were unchanged at 3.65% and 4.3%, respectively overnight. The decision was widely expected after the PBOC left the MLF unchanged at 2.75% earlier in the week. The economy still needs a boost over the coming year due to global economic headwinds, a struggling property market and Covid restrictions but some have likened rate cuts to pushing on a piece of string as demand simply isn’t there. Support will have to come from elsewhere. Yen under intense pressure The yen breached 150 against the dollar for the first time in more than 30 years overnight as the BoJ was forced to conduct unscheduled JGB purchases in order to defend its yield curve control target. The intervention doom loop is alive and well but pressure on the upper threshold is mounting and something will need to give eventually. There are clearly nerves around 150 about the prospect of a sizeable FX intervention but it hasn’t yet been forthcoming. With warnings now entirely falling on deaf ears, it’s time for action as market pressures are not abating. If anything, they’re intensifying. CBRT pours more fuel on the fire The theme of this note seems to inadvertently be fighting fires but the one difference in the case of the CBRT is that it either doesn’t know the house is on fire or doesn’t care. Rather than holding back the flames, it’s pouring fuel on them which is a rather unconventional and expensive approach in this climate. It even exceeded expectations today, cutting by 1.5% and lining up another before the end of this cycle. With inflation officially above 83% and cuts still coming, you have to wonder what exactly has convinced them to bother stopping at all. ​ Bitcoin edges higher There isn’t much to add on bitcoin. It continues to fluctuate around $20,000 and is currently sitting just below. It’s making small gains on the day, alongside other risk assets but doesn’t currently appear at risk of exploding in either direction. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Another day, another prime minister - MarketPulseMarketPulse
Bitcoin Is Showing A Good Sign For The Further Rise

East Asia Has Lost Its Position This Year And Is The Fourth Largest Cryptocurrency Market In The World

InstaForex Analysis InstaForex Analysis 21.10.2022 09:50
Crypto Industry News: Chainalysis, released data yesterday indicating that East Asia is the fourth largest cryptocurrency market in the world. In the period from July 2021 to June 2022, cryptocurrencies worth $ 777.5 billion were sent there. This number accounts for less than 13% of the global transaction volume in this period. As a result, the survey showed that East Asia has lost ground to other markets this year. According to the data, the region saw a year-on-year increase in transaction volume by just 4%, making it the market with the lowest crypto activity this year. In 2021, East Asia was the third largest by volume of crypto transactions. The biggest reason for this loss is probably the decline in cryptocurrency activity in China, the largest market in the region. The investigation showed that the country saw a decrease in transaction volume by 31% compared to the previous period. Meanwhile, Japan, for example, more than doubled this parameter. This is likely due to the Chinese government's suppression of crypto activity over the past year. In addition to low cryptocurrency trading activity in the region, the data indicates that East Asia has surprisingly low DeFi adoption. Throughout the year, DeFi accounted for just 28% of East Asian transaction volume, less than all regions outside Eastern Europe. Technical Market Outlook: The BTC/USD pair bounce had been rejected from the trend line resistance seen around the level of $19,600 and is heading lower. So far the bulls are protected by the intraday support, however, the pressure may pay off soon when a breakout is made. There is still missing one more wave to the downside in order to complete the Falling Wedge pattern. The momentum is weak and negative on the H4 time frame chart, which supports the short-term bearish outlook for BTC that should result in another down wave. The nearest technical support is seen at $18,938 and $18,854, however, the target for bears is the swing low and range low seen at the level of $18,150. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. Weekly Pivot Points: WR3 - $19,510 WR2 - $19,356 WR1 - $19,287 Weekly Pivot - $19,202 WS1 - $19,133 WS2 - $19,048 WS3 - $18,894 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 09:00 2022-10-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297766
Bitcoin Has Made A Dynamic And Aggressive Reversal

Unbelievable Bitcoin price forecast! According to Ton Weiss BTC may reach $100K next year!

Alex Kuptsikevich Alex Kuptsikevich 21.10.2022 09:53
Bitcoin is trading near $19K on Friday morning, losing 0.5% overnight. It hovered between $18.9K and $19.3K on Thursday, remaining pinned closer to the lower end of its trading range due to pressure in the US equity market and gold at the close of trading in New York. Cryptocurrency whales Bitcoin has closed lower for three consecutive days, but the bears have not yet decided to storm the support of the last four months. So far, we have seen an inertial retreat of cryptocurrencies amid a melting demand for risky assets (gold and equities) due to rising US interest rates. Cryptocurrency whales have been selling bitcoin for the past few months, reducing their reserves to a three-year low, according to a Santiment report. It was only last week that the whales changed tactics and began returning to cold-storing BTC. Hashrate Index notes that public miners sold fewer bitcoins than they mined for the first time since May, in August and September. The market continued to pressure miners’ financial strength throughout the third quarter. Outstanding Bitcoin price prediction Bitcoin will grow by 400% and reach $100,000 next year even before another halving, said renowned crypto trader and blogger Ton Weiss. According to him, the halving will be implemented earlier than investors expect, closer to March or April 2024. But the hype of the upcoming event will manifest itself much earlier. The cryptocurrency division of investment giant Fidelity Investments will offer institutional clients the option of trading Ethereum as early as the end of October. Bitcoin trading there was launched back in 2019. Read next: People's Bank of China Loan Prime Rate Stays Unchanged | A Softer Labour Market In Australia |Eyes On The US - Philly Fed Manufacturing Index| FXMAG.COM According to a poll, more than 77% of Salvadorans opposed the purchase of bitcoins by the state, calling the government's decision unfortunate. El Salvador declared BTC legal tender in September last year.
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Magic Eden Is The Latest NFT Marketplace | The World Of Football And Skateboarding At The NFT (PSG x Clown Skateboards)

Crypto.com Accelerate the... Crypto.com Accelerate the... 21.10.2022 11:03
Key Takeaways Solana-based Magic Eden has become the latest NFT marketplace to shift to an optional royalties model, following in the footsteps of X2Y2 in August. Under this model, buyers can make the decision on how much royalties to pay. Playing card brand Bicycle bought a Bored Ape Yacht Club NFT for US$187,000. The brand plans to create and sell physical playing cards based on the Ape. Bicycle specifically chose an Ape with a joker playing card in a helmet — only 2% of the 10,000 Apes have this attribute. NFT fantasy sports gaming platform Sorare is launching a free-to-play digital collectible-based fantasy basketball game in partnership with the NBA. Players can collect NFT trading cards featuring NBA basketball players, as well as assemble and manage teams. X2Y2 recorded a -30% decrease in sales and a -10% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +39% and its transaction count also increased +66%. The total market cap for GameFi tokens now stands at $7.2 billion, down -7% from last week. Crypto.com NFT in the Spotlight The “Halloween Bash – Create Your Own Halloween Monster” NFT collection allows users to explore endless combinations in pursuit of creating their completely unique creature. A collaborative effort between seven prominent NFT creators, this drop is cementing itself as a major show of artistic excellence. “PSG x Clown Skateboards” features the worlds of football and skateboarding, as well as the two beloved cities of Paris and London, with accompanying easter eggs. This NFT collection is created by Clown Skateboards‘s Jeff Boardman and Vikas Malik, in collaboration with the Paris Saint-Germain football club. NFT Highlights Azuki reveals physical backed tokens for on-chain ownership of physical items Shopify users get their hands on Tezos NFTs with new partnership Digital real estate platform sells house as an NFT Coinshares launches experimental new NFT pricing tool Latin American exchange Lemon integrates with NFT marketplace TravelX to allow airline ticket purchases GameFi Highlights GameFi platform Arcade raises $3.2M led by Crypto.com and other prominent investors DappRadar says Decentraland has 650 daily active users Major League Baseball is hiring to expand its NFT, digital games and metaverse presence Web3 infrastructure firm ChainSafe raises $18.75M as attention shifts to GameFi Japan’s Konami seeks to hire talents to advance Web 3, metaverse, and NFT efforts NFT Transaction Benchmark The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $99,000 Minted VVS Miner Mole $59,000 Magic Eden DeGods $2,235,000 OpenSea CryptoPunks $3,623,000 Platform Crypto.com NFT Collection Loaded Lions Sales Volume (USD) $99,000 Sample Platform Minted Collection VVS Miner Mole Sales Volume (USD) $59,000 Sample Platform Magic Eden Collection DeGods Sales Volume (USD) $2,235,000 Sample Platform OpenSea Collection CryptoPunks Sales Volume (USD) $3,623,000 Sample GameFi Top Gainers & Losers Top Games Metrics Daily Gamers by Blockchain Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile.
The FTX Bankruptcy Exposed Vulnerabilities In The Crypto System

A Positive Sign For Bitcoin Is The Correlation With Gold

InstaForex Analysis InstaForex Analysis 21.10.2022 11:47
For the past four months, Bitcoin quotes have been moving within a wide fluctuation range of $17.6k–$25k. Over the past month, the cryptocurrency has mastered the $18.2k–$20.4k area. The consistent movement of BTC within certain areas was made possible by a decrease in trading activity. Bitcoin tried to go beyond the ranges, but each such attempt was unsuccessful. At the same time, the drop in trading activity had a positive impact on the stability of the cryptocurrency. Thanks to the minimal attention of investors, the level of Bitcoin volatility has updated a seven-year low. Does Bitcoin correlate with gold? As a result, some stock indices have become more volatile than the main cryptocurrency. According to Bloomberg experts, a significant decrease in volatility has become a catalyst for increased attention to the industry by institutional investors. Arcane Research also stated that the decline in Bitcoin's volatility has affected the asset's "relationship" with gold. The correlation of BTC and the precious metal over the past month has reached an all-time high zone. It is for this reason that the cryptocurrency holds on to the $19k level, and does not follow the stock indices. The correlation of Bitcoin with stock indices remains, despite the passive behavior of the cryptocurrency price. Technically, Bitcoin follows the price movement of the S&P 500 and other indices, but everything happens within a narrow price range, which does not allow BTC volatility to increase. What does the growing correlation between BTC and gold mean? The macroeconomic situation and the seven-year low of volatility return Bitcoin the status of digital gold. Investors look to the asset as a deflationary savings vehicle. Given that the correlation between Bitcoin and stock indices persists, the reorientation is just beginning. In the medium term, this can significantly increase the attractiveness of Bitcoin and allow the asset to go beyond price ranges. However, along with the growing interest in cryptocurrency, the level of volatility will undoubtedly increase. Given this, there are two possible options for Bitcoin in the medium term. While maintaining the boundaries of the wide range of $17.6k–$25k, the correlation with gold may strengthen. However, in case of multiple attempts to go beyond the area, BTC volatility will start to rise. The growing correlation of Bitcoin with gold is situational but beneficial for the cryptocurrency. This suggests that investors are ready to consider a digital asset in various forms, including savings. Given the continuation of the Fed's hawkish policy, the correlation with gold is a positive signal. However, it is important to understand that fundamentally nothing has changed for Bitcoin. Gold is as much an underdog in the current bear market as high-risk assets. Precious metals rise during the DXY correction, and therefore you should not count on significant dividends from the correlation with gold. Conclusions The growing correlation of Bitcoin with gold confirms the willingness of investors to use the situational strengths of the cryptocurrency. In the medium term, interest in BTC can provoke an increase in trading volumes and the achievement of local highs. However, fundamentally the situation around the cryptocurrency does not change. In the current macroeconomic crisis, high-risk assets and precious metals are in the boat of outsiders. Given this, we can say with confidence that Bitcoin has no significant chances for a full-fledged growth before the end of the Fed's aggressive policy.   Relevance up to 09:00 2022-10-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/324953
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Bitcoin's Momentum Is Still Driven By Risk Appetite

InstaForex Analysis InstaForex Analysis 21.10.2022 14:36
Size matters. While investors observe bitcoin's falling volatility before their eyes and draw analogies from 2018, when in the same conditions the leader of the cryptocurrency sector collapsed like a stone after prolonged consolidation, the "bulls" on BTCUSD find a difference from the events of 4 years ago. In their opinion, trading volumes were falling then, but now they are still high. Although the indicator has moved away from its annual peaks, $100 billion worth of bitcoins, including $50 billion worth of derivatives, change hands every day. The first figure is a fifth of the daily turnover in the colossal size of the US stock market. Behind the apparent calm in the crypto market, there is internal tension. Volatility has fallen to its lowest levels since April, and BTCUSD's attempts to break out of the 18,500–20,000 trading range are ending in failure. You can, of course, recall the history and the attack of the "bulls" on bitcoin at the end of the week by October 14. In the past, if the leader of the cryptocurrency sector left the 5% consolidation range and closed above it by 1%, then 60 days after 15 such signals, it grew by an average of 19%. Bitcoin Volatility Dynamics However, history is a fascinating thing, but unreliable. Market conditions may vary. Including trading volumes. In any case, the time is not chosen. If you do not leave the crypto asset market, then you need to look for opportunities to make money even in the face of falling volatility before your eyes. Some investors find it to be buying options to make a profit on a narrow trading range. Others say that the BTCUSD peak towards the 18,000–19,000 area creates ideal conditions for buying in the long term. Let's wait and see who was right. When the market is in tug-of-war mode for a long time, a radical change in attitude should not surprise anyone. Morgan Stanley, which has traditionally acted as a "bear" on US stock indices, claims that the hour has come for short-term purchases of shares. On the contrary, almost the main "bull" of Wall Street, JP Morgan, advises its clients to refrain from long positions for a while. Bitcoin's momentum is still driven by risk appetite, so traders should keep a close eye on what's going on in the US stock market. The start of the corporate reporting season is encouraging, but the fact that the US Treasury yield has exceeded the 4% mark and continues to grow by leaps and bounds does not bode well for stock indices and BTCUSD. The fundamental valuation of stocks is declining, and investors are rushing to remove unattractive assets from the portfolio. The sale of equity securities is also carried out by miners who need to cover the costs of ongoing operations. Technically, on the daily chart of bitcoin, quotes are wandering around the fair value at 19,100. It makes sense to use the rebound from 18,500 and 18,200 for purchases. Unsuccessful resistance tests at 19,800 and 20,100 are for sales.   Relevance up to 10:00 2022-10-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/324959
Bitcoin Has A Sign Of The Sideways Regime

Who Should Oversee The Cryptocurrency Market, The SEC Or The CFTC?

InstaForex Analysis InstaForex Analysis 24.10.2022 10:37
Crypto Industry News: The CFTC (Commodity Futures Trading Commission) and the Securities Exchange Commission (SEC) are two regulatory agencies in the US that have been the subject of much debate about who should oversee the cryptocurrency market and illegal activities related to the industry. It is well known that the SEC wants full control over the oversight of virtual assets such as digital and stablecoins. For its part, the CFTC also wants the same level of regulatory powers. This would entail strengthening its control over some financial instruments, and at the same time it would have the possibility of increasing the revenue of the office. According to a statement released by the CFTC on October 20, the Legal Enforcement Division had 82 recorded activities this year, 18 of which were related to cryptocurrencies. In percentage terms, the digital asset class accounted for over 20% of all filings made by the CFTC this year. Commissioner Rostin Benham, commenting on the development of the situation, said: "This report shows that the CFTC continues to aggressively oversee new digital asset markets with all the tools available." I. Among the actions taken by Benham's office this year was the filing of a lawsuit against bZeroX DAO investigating the manipulation of the native Digitex Futures token and an alleged $ 1.7 billion fraud. The CFTC has also imposed its sanctions in the event of failure to register a Designated Contract Producer (DCM), a Futures Commissioner (FCM) and a Swap Execution Facility (SEF). Subsequently, Benham confidently expressed his readiness to regulate the plight of cryptocurrencies as preparations to be a fully funded regulator of this particular industry are already underway. Technical Market Outlook: The BTC/USD pair has broken above the local trend line resistance around the level of $19,400, however, there is still missing one more wave to the downside in order to complete the Falling Wedge pattern. Nevertheless, the market made a Shooting Star candlestick pattern at the level of $19,678 and is currently testing the broken trend line from above. The nearest technical support is seen at $19,248 and $19,078, however, the target for bears is the swing low and range low seen at the level of $18,150. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. Weekly Pivot Points: WR3 - $20,025 WR2 - $19,682 WR1 - $19,461 Weekly Pivot - $19,340 WS1 - $19,119 WS2 - $18,997 WS3 - $18,655 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 10:00 2022-10-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298007
Previous Fed Hikes Didn't Trigger Bitcoin To Fall, But...

According to DappRadar, in Q3, NFT trading volume in metaverses went down by 80% Y/Y | In the previous week, the leading cryptocurrency gained almost 1%, Ethereum went up by 1.5%

Alex Kuptsikevich Alex Kuptsikevich 24.10.2022 10:27
Price of the first cryptocurrency increased, ETH/USD did well Bitcoin rose 0.9% over the past week, finishing near $19.5K. The markets' reversal to growth on Friday afternoon and the pummelling on Sunday significantly contributed to this growth. However, the effect of the latter has been almost completely wiped out. The 50-day moving average continues to effectively play its role as a resistance, triggering a new selling wave when it tries to go higher early on Monday. The price rally on Sunday formally took the quote outside the triangle, but we still need a confirmation of the upside exit. Such a confirmation signal should be a consolidation above the previous highs at $19.6K, which has so far failed. Ethereum added 1.5% to $1330. Other leading altcoins from the top 10 showed mixed dynamics: from a 5.1% decline (Solana) to a 1.2% increase (Dogecoin). Total crypto market capitalisation, according to CoinMarketCap, rose 0.9% over the week to $933bn. The Cryptocurrency Fear and Greed Index fell 1 point over the week to 23 and remains in 'extreme fear'. Bitcoin Group's announcement Weak trader activity suggests that cryptocurrencies are at the bottom, Bianco Research believes. Stagnation can be seen as a positive, and we are unlikely to see a more profound plunge. In Brazil, 24,000 ATMs in the Banco24Horas network will add support for Tether (USDT) stablecoin. The stablecoin operator has partnered with SmartPay to do so. Analyst service DappRadar published a report showing that NFT trading volume in metaverses fell 80% y/y in the third quarter of this year. Lastly, Bitcoin Group announced plans to acquire one of Germany's oldest banks, Bankhaus von der Heydt.
The FTX Bankruptcy Exposed Vulnerabilities In The Crypto System

Bitcoin's (BTC) Price Should Not Be Expected To Rise

InstaForex Analysis InstaForex Analysis 24.10.2022 10:47
Over the weekend, changes in the price of Bitcoin were minimal due to a decrease in trading activity. The macroeconomic situation also remains tense; therefore, most financial instruments are moving in large groups. Bitcoin after a month of consolidation The new trading week does not promise significant changes in price for Bitcoin, as the asset remains locked inside the $18.6k–$19.8k area. The cryptocurrency unsuccessfully tried to go beyond this range, but even bursts of volatility did not allow it to radically change the situation. However, after a month of boring consolidation, we can conclude that the $18.6k support level is the final one before updating the local bottom. The $19.8k–$20.4k zone is a key resistance area. With its bullish breakdown, the cryptocurrency has a chance to show local growth to $23k–$24k. The question of whether we should expect a radical change in the situation this week rests on the lack of independence of Bitcoin. Attention to the digital asset has reached a local bottom, and trading volumes do not exceed $30 billion. The number of unique addresses also remains low, below 800,000. At the same time, the level of correlation with stock indices and the S&P 500 has declined significantly in recent weeks. The fall in BTC volatility and movement within a narrow range increased the correlation of the cryptocurrency with gold. However, reorienting investors' positions regarding Bitcoin has only just begun. This means that in the medium term, one should not expect an increase in BTC quotes due to the popularity of the asset amid a recession. Bitcoin vs DXY The inverse correlation between Bitcoin and the US dollar index persists, and despite market expectations, DXY continues to rise. Moreover, a bullish pattern is forming on the daily chart of the asset, which may soon provoke another bullish momentum of the index. Technical indicators on the 1D point to the emergence of bullish signals. The relative strength index bounced off 50 and resumed its upward movement, which indicates an increase in buying interest. Stochastic has also resumed its upward movement and is preparing for the formation of a bullish crossover. These factors point to a growing interest in DXY in the short term. Given the bullish signals, we should expect an upward breakdown of the "triangle" figure and the price movement to the levels of 118–120. Results Bitcoin and stock indices have a pronounced inverse correlation with the US dollar index. After recent statements by Fed officials to maintain the current monetary policy, the inverse codependency has only strengthened. This means that in the short term, we should expect a decline in stock indices and cryptocurrencies. Bitcoin risks at least updating the $18.6k support area. If this level is successfully passed, the price will rush to $17.6k–$18.2k. With large order volumes and liquidity below the local bottom ($17.6k), it is unlikely that market makers will hold the local bottom. This means that with a bearish breakdown of $18.6k, it is very likely that Bitcoin will update the local bottom near the $16k level.   Relevance up to 09:00 2022-10-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/325094
Indonesia's Inflation Slips, Central Bank Maintains Rates Amidst Stability

FX Today: Major Currencies Stay Relatively Quiet (EUR/USD, USD/JPY, GBP/USD)

TeleTrade Comments TeleTrade Comments 24.10.2022 11:00
Here is what you need to know on Monday, October 24: As investors prepare for the highly-anticipated central bank decisions later this week, major currencies stay relatively quiet at the start of the new week except for the Japanese yen. The US Dollar Index moves sideways at around 112.00 and US stock index futures trade flat on the day. S&P Global will release the preliminary October Manufacturing and Services PMI data for Germany, the euro area, the UK and the US. Federal Reserve Bank of Chicago's National Activity Index will also be looked upon for fresh impetus later in the day. During the Asian trading hours, the data from China revealed that the Gross Domestic Product grew at an annualized rate of 3.9% in the third quarter. This reading came in better than the market expectation for an expansion of 3.4%. Retail Sales in China, however, rose by 2.5% on a yearly basis, falling short of analysts' estimate of 3.3%. The Shanghai Composite fell sharply following mixed data and was last seen losing more than 2% on a daily basis. USD/JPY The USD/JPY pair climbed toward 150.00 in the first hours of trading early Monday but lost over 400 pips in a matter of 10 minutes. Japan’s top currency diplomat Masato Kanda refrained from clarifying whether they intervened in the market but reiterated that they will continue to take appropriate action against excessive, disorderly market moves. Following the sharp decline witnessed in the Asian session, the pair recovered to the 149.00 area, where it's up around 1% on the day. EUR/USD EUR/USD trades in a relatively tight range near mid-0.9800s following Friday's rebound. Business activity in the euro area's and Germany's manufacturing sectors are expected to continue to contract in early October.  GBP/USD GBP/USD trades in positive territory and continues to edge higher toward 1.1400 in the early European morning on Monday. Former British Prime Minister Boris Johnson announced that he ended his big to replace Liz Truss. Meanwhile, former chancellor Rishi Sunak has reportedly 165 supporters ahead of Monday's nomination deadline and remains the clear favourite to become the next PM. Gold Following Friday's impressive upsurge, gold climbed to a fresh 10-day high near $1,670 early Monday but struggled to preserve its bullish momentum. At the time of press, XAU/USD was little changed on the day at $1,657. Meanwhile, the 10-year US Treasury bond yield is down nearly 2% on the day, helping gold hold its ground for the time being. BTC Bitcoin climbed toward $20,000 on Sunday but lost its traction before reaching that level. As of writing, BTC/USD was down 1% on the day at $19,350. Ethereum ended up gaining more than 4% last week and seems to have gone into a consolidation phase above $1,300 early Monday.
Craig Erlam And Jonny Hart Discuss Crypto Situation And The US Election Results

CipherTrace And Its Help In Investigating Illegal Transactions Involving Cryptocurrencies

InstaForex Analysis InstaForex Analysis 24.10.2022 12:36
Amid a lull in the crypto market, Mastercard has announced the release of new software that would help banks detect and block transactions with fraud-prone crypto exchanges. The new system, called Crypto Secure, uses complex AI algorithms to determine the risk of crime associated with crypto exchanges on the Mastercard payment network. The company said that the system relies on data from the blockchain, a public record of crypto transactions, as well as other sources. Startup Mastercard The service is powered by CipherTrace, a blockchain security startup Mastercard acquired last year. CipherTrace helps companies and state institutions investigate illicit transactions involving cryptocurrencies. Its main competitor is the New York-based firm Chainalysis, as well as Elliptic. Mastercard noted that the service was launched due to growing crime in the nascent digital asset market. According to Chainalysis, the amount of crypto entering wallets with known criminal connections surged to a record $14 billion last year. Furthermore, 2022 saw a wave of high-profile hacking attacks and scams targeting crypto investors. On the Crypto Secure platform, banks and other card issuers are shown a dashboard with color-coded ratings representing the risk of suspicious activity. The decision on whether to turn away a specific crypto merchant is down to the card issuers themselves, and not Crypto Secure. Mastercard Mastercard already uses a similar technology to prevent fraud in fiat currency transactions. Crypto Secure extends this functionality to Bitcoin and other cryptocurrencies. In an interview with CNBC, Ajay Bhalla, Mastercard's president of cyber and intelligence business, said that the move was about ensuring its partners can stay compliant with the complex regulatory landscape. "The whole digital asset market is now a pretty large, substantial market. The idea is that the kind of trust we provide for digital commerce transactions, we want to be able to provide the same kind of trust to digital asset transactions for consumers, banks and merchants," Bhalla said. Bitcoin On the technical side, Bitcoin has recouped losses it sustained during an earlier slump. The market is now balanced once again, suggesting that risk appetite of investors is low. The key level for BTC at this point is the resistance at $19,500. The cryptocurrency needs to regain this level to begin a new upward correction. If BTC breaks above this level, it would then need to break through the resistance at $20,540 and $21,410. If BTC ends up under increased pressure, which is quite possible, bulls would need to defend the support levels of $19,100 and $18,625. A breakout below these levels would quickly push the instrument back towards the lower boundary of the sideways channel at $18,100, opening the way towards $17,580. Ethereum Ethereum has rebounded from the strong support level of $1,275 upwards and is currently moving sideways. A breakout through $1,275 could change the situation in the market significantly. However, ETH would need to settle above $1,343 to stabilize the situation and return balance. From there, Ethereum could rise towards $1,402 and $1,457, with more distant targets being $1,504 and $1,550. Continuing pressure on the instrument and a breakout below $1,275 could send the instrument down towards the support at $1,210. If ETH breaks through this level, it would slide down to $1,150, where major market players would come into play once again.     Relevance up to 10:00 2022-10-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/325108
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Cryptocurrency Volatility Continues To Decline | The European Union And Energy Efficiency For Blockchains

Crypto.com Accelerate the... Crypto.com Accelerate the... 24.10.2022 13:42
Crypto volatility in freefall. Ethereum launches Shandong testnet. Europe to develop energy efficiency label for blockchains. Chart(s) of the Week: Crypto Volatility Freefall Crypto volatility continues to fall, as seen in the options implied volatilities (vols) downtrend for both BTC and ETH. Implied vols are derived from the options market and are typically used as forward-looking measures of risk. 1-week implied vol for BTC currently is at 43.7%, the lowest level this year.  While one interpretation of the low volatility could be less cautious sentiment, it could also be seen as a somewhat dull environment from a short-term trading perspective as the price is essentially stuck in a narrow sideways range. The low implied vols potentially also indicate relatively cheap prices for downside protection via options. Crypto Fund Flow Tracker The aggregated exchange balances for both BTC and ETH continued to fall over the past week, potentially implying weakening sell pressure. No significant movements were seen in OTC (over-the-counter) desks’ balance for BTC. OTC desks are typically used by larger investors. Crypto Derivatives Pulse No significant movements in BTC and ETH put-call ratios over the past week. BTC perpetual futures funding rates remain positive (longs pay shorts), while ETH funding rates continue to hover around neutral levels. Crypto Price Movements Crypto News Highlights Ethereum (ETH) launches Shandong, a testnet to prepare for the Shanghai upgrade. Shandong will be a testing ground for numerous Ethereum Improvement proposals (EIPs) for selecting to include in the later Shanghai upgrade, one of which could potentially be allowing those that hold staked ETH to withdraw it.  The European Union is set to develop an energy efficiency label for blockchains. This is part of wider plans to control energy consumption of the Information and Communications Technology (ICT) sector.  Aptos (APT), a Layer-1 blockchain, launched its mainnet. Aptos was created by ex-Meta developers and includes among its investors Andreessen Horowitz. Following the launch, there has been some controversy about its tokenomics and transaction speed being slower than claimed. Fidelity’s crypto platform, Fidelity Digital Assets, will allow its institutional clients to trade ETH starting on 28 October. This follows Fidelity’s launch of an Ethereum Index Fund for accredited investors back in late-September. A single miner managed to capture a large portion of the Bitcoin SV (Bitcoin Satoshi’s Vision) blockchain by accounting for as high as 80% of the hashrate. The miner has been mining near-empty blocks, making the blockchain unusable for long periods of time. Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.  
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

FieryTrading comments on Bitcoin price - 24/10/22

Fierytrading Analysis Fierytrading Analysis 24.10.2022 23:40
// 🔥 Bitcoin In An Epic Falling Wedge: Huge Week Ahead by FieryTrading on TradingView.com Trend Analysis Chart Patterns Technical Indicators     In this analysis I'd like to shed some light on a view on the market which I've not seen many people talk about: the idea that BTC is trading within a massive falling wedge since the November top. Falling wedges are classically bullish reversal patterns, this would indicate that BTC is either on the verge of breaking out bullish , or that we can see another drop down to the support (which would likely be the bottom).As seen on the chart, BTC is currently trading on the resistance of the falling wedge . That would mean that we're going to see some kind of big move in the coming days; either a break out of the wedge or a ( bearish ) continuation and a move towards the wedge's support.In my view, BTC still has another leg down to go. See the analysis below for a more complete bearish analysis. In my opinion, this falling wedge is one of the many views on the market. Try to keep an open mind and see what the market gives you. Going to be an interesting week.Are you bullish or bearish on crypto? Please share your thoughts🙏🔥 💰Lower Your Trading Fees: https://taplink.cc/fierytrading📈Try my Premium Signals for 🚨FREE🚨: https://t.me/FT_Futures_free🔥Premium channel & 💎Contact: http://www.fierytrading.com🎯Crypto Signals & EXCLUSIVE analyses: https://t.me/FieryTradingChannel Website Source: Trader FieryTrading — Trading Ideas & Charts — TradingView
Bitcoin Maintains A Steady Bullish Potential

Bitcoin: When The Correction Is Complete, A New Impulsive Rally Can Begin

InstaForex Analysis InstaForex Analysis 25.10.2022 08:28
Bitcoin peaked way back in April 2021 with the test of 64,895 and has since been in a corrective double zig-zag correction, but this is also unfolding as an expanded flat pattern. In an expanded flat wave, X exceeds the previous peak which is the case here as wave X peaked at 69,000 and wave C of Y has broken well below the bottom of wave W. BTC price is currently hovering close to the bottom at 17,592. This could have been the low for the corrective decline. If that's the case, then we should see Bitcoin break above resistance at 25,405. However, as long as resistance at 25,405 is able to cap the upside, we can not exclude one more dip closer to 12,000 before this correction finally comes to an end and a new impulsive rally can begin. This new impulsive rally will ultimately break clearly above the former peak at 69,000.     Relevance up to 07:00 2022-10-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298138
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Tesla's Losses After $1.5 Billion Invested In Bitcoin

InstaForex Analysis InstaForex Analysis 25.10.2022 11:24
Crypto Industry News: According to Tesla's latest Q3 earnings report filed with the U.S. Securities and Exchange Commission, the electric vehicle manufacturer has revealed that it has invested a total of $1.5 billion in Bitcoin since early 2021. Of this amount, the company now has a $170 million unrealized loss resulting from the change in the fair value of its investment. This is offset by a $64 million profit on Bitcoin profits at various times in the past two years, leading to a net loss of $ 106 million by the end of the third quarter. Tesla's losses, however, did not significantly affect the company's core business. The electric vehicle manufacturer's profits grew 169% year-on-year from $3.3 billion in the first nine months of 2021. However, the company only has around 218 million in Bitcoin on its balance sheet. According to the law, digital assets are considered intangible assets with an indefinite useful life. Consequently, any decline in their fair value will require Tesla to recognize an impairment loss, while the company does not make upward adjustments for any price increases up to the point of sale. Under this favorable tax treatment, losses can be deducted from profits to reduce tax liability, while capital gains are not taxed until sale. Technical Market Outlook: After the BTC/USD pair made the market made a Shooting Star candlestick pattern at the level of $19,678, the market reversed and is consolidating around the local trend line. The nearest technical support is seen at $19,248 and $19,078, however, the target for bears is the swing low and range low seen at the level of $18,150. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. Weekly Pivot Points: WR3 - $20,025 WR2 - $19,682 WR1 - $19,461 Weekly Pivot - $19,340 WS1 - $19,119 WS2 - $18,997 WS3 - $18,655 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.     Relevance up to 10:00 2022-10-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298195
Sber And First Issue Of Gold-Backed Digital Financial Assets

The Correlation Between The Gold And Bitcoin Indicates The Willingness To Use The Digital Asset As A Safe Haven

InstaForex Analysis InstaForex Analysis 25.10.2022 13:35
The last two months were supposed to be a turning point in the view of the vast majority of players in various markets. The crisis in all its manifestations should have gone into decline, and the Fed's policy should have softened. Such were the expectations of autumn in July and early August. Bitcoin leaves the fund and goes to gold However, the situation turned out to be the opposite due to the low effectiveness of the fight against inflation. As a result, the Fed's aggressive monetary policy has been maintained, and interest rate cuts are not expected until 2023 at the earliest. At the same time, the vast majority of financial market participants are confident that a recession in the US economy will occur in the next 8–12 months. This means that the situation has not returned to normal for at least a year. Therefore, investors begin to look for assets to preserve capital. Low trading activity and the fall in Bitcoin's volatility to local lows provoked increased attention to cryptocurrency as a store of value. The growing correlation with gold confirms the reorientation of investors' positions in relation to BTC. Bank of America experts also believe that the growing correlation between the precious metal and Bitcoin indicates a willingness to use the digital asset as a "safe haven." At the same time, the correlation of Bitcoin with stock indices gradually weakened, which was reflected in the BTC/USD price charts. BTC/USD analysis As of October 25, the main cryptocurrency is trading in the usual range of $18.6k–$19.8k. Trading volumes continue to decline, due to which the "triangle" figure is gradually coming to an end. In the near term, there is every reason to expect the Bitcoin price to go beyond the current range. Technical indicators on the daily chart point to the continued flat trend, which is not surprising in the face of falling trading volumes. Considering that the asset has been trading within a narrow range for more than a month, we can assume an upward breakout of the resistance level, after which the local bottom will be updated. This scenario would seem most obvious if Bitcoin continued to maintain a correlation with stock indices. According to JPMorgan analysts, the stock market is at the peak of the current season. Analysts attribute this to the historical context of October, as well as the "mid-term elections" factor, due to which trade has significantly revived. At the same time, the co-dependence of BTC and stock assets is weakening, which casts doubt on a similar upward movement in the cryptocurrency. Gold analysis This means that from now on, in order to analyze the further movement of the price of Bitcoin, it is necessary to take into account the state of gold. The precious metal is in a downward trend and has hit a 2020 low. At the same time, there is reason to believe that the precious metal has completed its downward movement. On the daily chart, we see the formation of a "double bottom" pattern, as well as a "bullish engulfing" pattern. Two bullish signals may indicate a gradual price reversal. The MACD indicator completes the formation of a bullish crossover, which indicates a strong bullish trend. Results The situation in the cryptocurrency market and related sectors has stabilized due to a combination of fundamental and local factors. Thanks to this, we see the growth of the stock market and the prerequisites for the growth of precious metals. Given this, the probability of an upward breakdown of the "triangle" of Bitcoin increases. In this case, the targets will be the $23k–$24k levels. However, given the huge volumes of liquidity below the local bottom, an upward impulse cannot be ruled out, turning into a steep bearish peak. In the current liquidity situation, updating the local bottom is a necessary evil for a full-fledged start of an upward trend.   Relevance up to 10:00 2022-10-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/325235
Technical Outlook Of The Further Movement Of Bitcoin

Mastercard And Integrate Cryptocurrency Trading Into Bank Interfaces

InstaForex Analysis InstaForex Analysis 26.10.2022 09:53
Crypto Industry News: Mastercard will implement its technology to integrate cryptocurrency trading into bank interfaces, while Paxos is expected to provide its trading and fiduciary services. The global payment giant continues its efforts to promote cryptocurrency adoption by developing a new tool to enable banks to trade cryptocurrencies such as Bitcoin (BTC). Mastercard officially announced on October 17 a new program that will enable financial institutions to provide their clients with cryptocurrency trading opportunities and services. The program, called the "Cryptocurrency Source", is designed to allow users to buy, store and sell cryptocurrencies, complemented by the proprietary Crypto Secure solution for additional security and compliance. The tool was launched in partnership with an existing partner, Paxos Trust Company, and is scheduled to go live in the fourth quarter of 2022. Paxos is known to provide similar services to the global payment giant PayPal, which launched its first crypto services in late 2020. Technical Market Outlook: After the BTC/USD pair bounced from the technical support seen at $19,248, the bulls aggressively extended the move up towards the level of $20,221 and currently are consolidating there. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The intraday technical support is seen at $19,950. Weekly Pivot Points: WR3 - $20,025 WR2 - $19,682 WR1 - $19,461 Weekly Pivot - $19,340 WS1 - $19,119 WS2 - $18,997 WS3 - $18,655 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.       Relevance up to 08:00 2022-10-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Read more: https://www.instaforex.eu/forex_analysis/298351
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Bitcoin Is Showing Fresh Upside Target And There Is Potential For Further Rally

InstaForex Analysis InstaForex Analysis 26.10.2022 10:40
Technical analysis: BTC/USD has been trading upside ans the price is near the main upside objective at $20.455. There is potential for test of the first upside target. Trading recommendation: Due to the breakout of the triangle pattern in the background, there is potential for further rally. Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price of $20.450 and $22.450. MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control. Support is set at the price of $19.900   Relevance up to 08:00 2022-10-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298357
Look At Comments On Bitcoin Prices, Ethereum Market And If The CEO Of Polkadot Is Resigning

Look At Comments On Bitcoin Prices, Ethereum Market And If The CEO Of Polkadot Is Resigning

Swissquote Bank Swissquote Bank 26.10.2022 13:10
What happens if the CEO of a famous protocol is resigning? What could it mean for the price action of the token? We'll discuss it in detail when looking at the recent developments of Polkadot... 00:00 Intro 00:22 Preview 00:36 CryptoNews 02:41 Bitcoin 04:48 Ethereum 08:42 MaticPolygon 10:29 Polkadot 12:17 Subscribe & Good bye #crypto #cryptonews #cryptotrading #swissquote ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
Bitcoin Has Made A Dynamic And Aggressive Reversal

Traders Who Bet On The Downside Of The Crypto Market Have Suffered

InstaForex Analysis InstaForex Analysis 26.10.2022 14:25
On Tuesday, Bitcoin added 3.91%, and today, as of writing, it has already grown by 2.86%. The bullish rally over the past 24 hours has allowed the market capitalization of the entire crypto market to rise to over $1 trillion for the first time since October 5, 2022. The main cryptocurrency was finally able to overcome the $20,000 mark. Moreover, BTCUSD has overcome the resistance at 20,381. Consolidation above will allow the price to continue rising towards the level of 21,700. Key to explaining the rise of BTC For the first time in three weeks, the price topped $20,000, a move that came as a surprise to many. More recently, concerns about inflation and macroeconomic uncertainty have dominated the cryptocurrency market. However, yesterday saw an increase in the stock market as Microsoft and Google, among others, announced earnings. At the same time, risk appetite improved, and the dollar index collapsed, which most likely became the main key to the growth of BTC. When DXY began to lose ground between 8 and 10 am EST, the price of Bitcoin surged shortly thereafter. During these two hours, the DXY index fell from 112.072 to 110.846 points. At the same time, the price of the main cryptocurrency showed initial strength, which then grew into a further rally. This phenomenon is not new. For most of 2022, Bitcoin and the dollar index were in close inverse relationship, i.e. while DXY was rising, BTC was falling. Although the correlation has declined again in recent weeks, yesterday's movement may indicate a resumption of correlation. Thus, whether Bitcoin can continue to rise may depend on the weakness of the DXY. In this regard, the Federal Reserve System is likely to again be in the focus of investors' attention. Markets will then keep an eye on tomorrow's US GDP report to gauge future Fed policy. The US economy is currently expected to grow by 2.4% in the third quarter, which means that interest rate hikes are not having too much of a negative impact on the economy at this time. This, in turn, may push the Fed to further raise interest rates. As the central bank recently confirmed, it will keep raising rates until something breaks. The weakening economy may be just the first sign that the Fed will soon have to abandon its aggressive plan to raise interest rates. The next FOMC meeting on November 2 may provide more information on this. Bull Rally: Don't Rush to Rejoice Thus, yesterday's rally in cryptocurrencies was partly driven by the fall in the US dollar index and improved risk appetite. Technically, this might make you think that the cryptocurrency bottom may have already been reached. However, it would be premature to draw such linear conclusions now. The US Federal Reserve is likely to make another 75 basis point hike at its November meeting, according to most analysts polled. As interest rates rise, the crypto space may again find itself in serious turbulence, with the main cryptocurrency falling in price again. Avalanche of liquidations: positions of 120,000 crypto traders destroyed Nearly 120,000 crypto traders have their positions wiped out in the last 24 hours as Bitcoin surges above $20,000. Data from derivatives analytics platform Coinglass shows that more than $806.39 million in long and short positions were liquidated on October 25. Traders who bet on the downside of the crypto market have suffered. Coinglass shows that over $704.75 million in short positions were liquidated on Tuesday. On October 25, long positions were also closed for more than $101.39 million. However, experts warn that the recent rally is likely preparation for a massive bull trap. One analyst believes that Bitcoin will take another step higher before trapping the BTC bulls and fully correcting to its $14,000 bottom target. "The fact that this retracement is happening before taking the last high is a good sign. In my opinion, we will see the last push up to $21,000 this week. Time pivots are October 27th and November 2nd (interest rates). Potential bottom about mid-November."     Relevance up to 11:00 2022-10-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/325379
The Developments In The Crypto Sector Made It Into The Record Books (The Guinness World Records)

The Developments In The Crypto Sector Made It Into The Record Books (The Guinness World Records)

InstaForex Analysis InstaForex Analysis 27.10.2022 14:10
The world of cryptocurrencies is now recognized by the Guinness World Records (GWR), which has added Bitcoin to its new "Cryptomania" category, recognizing the top cryptocurrency as the first decentralized currency. GWR has been cataloging record-breaking feats and achievements since 1955, and 2022 was the first year that developments in the crypto sector made it into the record books. Several other notable advances in the blockchain space have also been added, including cryptocurrency adoption, fan tokens, and non-fungible tokens (NFTs). Bitcoin has been recognized not only as the first decentralized currency, but also as the most valuable cryptocurrency due to its market capitalization of $816.69 billion, which was registered on March 24, 2022. The nonfungible token (NFT) project CryptoPunks was also recognized by GWR as the most "expensive NFT collectible" after CryptoPunk was bought by entrepreneur Deepak Thapliya on February 12 this year for $23.7 million, or 8,000 Ether. El Salvador was also recognized as the first country to accept bitcoin as legal tender last June. Last week, the world's leading crypto exchange, Binance, announced that it had broken the Guinness World Record after being recognized for hosting the largest cryptocurrency class ever, attended by 289 people on October 7 at Blockchain Land Nuevo Leon. And in early September, Merriam-Webster added the words "altcoin" and "metaverse" to its reference pages. "Bitcoin" was previously added in 2016, while "cryptocurrency," "initial coin offering" and "blockchain" were added in 2018.   Relevance up to 09:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/325497
Bitcoin Is Showing The Potential For The Further Downside Rotation

Trading Recommendation For Bitcoin (BTC/USD)

InstaForex Analysis InstaForex Analysis 28.10.2022 08:47
Technical analysis: BTC/USD has been sideways this morning and I see tight triangle pattern in creation. Watch for potential breakout to confirm further direction... Trading recommendation: In case of the breakout of the resistance at the price of $20.320, watch for buying opportunities on the intraday pullbacks with the upside objectives at $20.665 and $21.000 In case of the downside breakout of the support at $20.170, watch for selling opportunities on the rallies with the downside objectives at the price of $19.977 and $19.655     Relevance up to 08:00 2022-10-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298741
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Horse Racing At The NFT-DeRace | OpenSea Sales Were Positive, GameFi Saw An Increase

Crypto.com Accelerate the... Crypto.com Accelerate the... 28.10.2022 09:28
Key Takeaways Crypto.com signed an MOU with gaming software development studio ACT Games. The Cronos blockchain will soon be powering ACT Games’s NFT trading card game “Zoids Wild NFT Arena”. Crypto.com will issue an NFT collection based on A Story produced Korean drama “Extraordinary Attorney Woo”. Four whale artworks produced by top Korean illustrator Chul-min Lee were also showcased at Blockchain Week in Busan. Bored Ape Yacht Club NFT holders have access to a new merchandise drop. The BAYC x McBess x The Dudes drop contains apparel, accessories, and artwork. Amongst the items are t-shirts, jackets, prints, and stickers with monochromatic designs. Reddit brought half a million or more newcomers to the world of NFTs, using a jargon-free approach to presenting digital collectibles. Around three million wallets have been created to acquire Reddit’s Collectible Avatars, and sales volumes have exceeded US$6.7 million. X2Y2 recorded a -19% decrease in sales and a -15% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +21% and its transaction count also increased +9%. The total market cap for GameFi tokens now stands at $7.83 billion, up +9% from last week. Crypto.com NFT in the Spotlight The “Visa Masters of Movement” NFT collection is a fusion of football, art, and technology. To celebrate FIFA World Cup Qatar 2022, Visa has taken some of football’s most iconic moves from five legendary players and transformed them into digital art. Proceeds from the sales of this collection will also benefit the charity Street Child United. DeRace is an NFT horse racing metaverse based on blockchain technology and it allows players to race, equip, breed, and rent NFT horses. Each “DeRace Mystery Box” contains one wearable NFT for your virtual horse, including saddles, horseshoes, and stirrups.These can be used to unlock the performance of the NFT horses or traded on NFT marketplaces. NFT Highlights NFT marketplace LooksRare switches to optional royalties OpenSea revises OpenRarity Protocol to reflect market dynamics Twitter will allow users to buy and sell NFTs through tweets Over $1M worth of ETH and NFTs stolen in phishing attack Apple to allow in-app purchase of NFTs, subject to 30% tax rate Swiss Seba Bank launches NFT custody despite market decline GameFi Highlights Gaming and NFTs will drive Web3 growth: Crypto.com COO Blockchain game Alien Worlds launches in-game DAOs Nissan to launch game NFTs Axie Infinity drops 22% over the week amid fears of token unlock GameFi-focused network Oasys Blockchain launches mainnet with support of Sega, Ubisoft, and Bandai Namco NFT Transaction Benchmark The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $234,000 Minted Cronos Cruisers $291,000 Magic Eden y00ts: mint t00bs $1,711,000 OpenSea CryptoPunks $6,566,000 Platform Crypto.com NFT Collection Loaded Lions Sales Volume (USD) $234,000 Sample Platform Minted Collection Cronos Cruisers Sales Volume (USD) $291,000 Sample Platform Magic Eden Collection y00ts: mint t00bs Sales Volume (USD) $1,711,000 Sample Platform OpenSea Collection CryptoPunks Sales Volume (USD) $6,566,000 Sample GameFi Top Gainers & Losers Top Games Metrics Daily Gamers by Blockchain Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile.  
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Hong Kong Is The Key To Cryptocurrency Success | Bitcoin Is Down Again

InstaForex Analysis InstaForex Analysis 28.10.2022 09:38
Crypto Industry News: In a recent blog post, Arthur Hayes, known from BitMEX, wrote that Hong Kong is the key to cryptocurrency success. According to media reports, the Hong Kong regulator plans to approve retail investors' direct investment in cryptocurrencies. Additionally, the institution will reconsider the regulation of digital asset trading. "Hong Kong's friendly reorientation towards cryptocurrencies heralds China's return to cryptocurrency capital markets." Says Hayes now. In his opinion, as soon as the Chinese turn to cryptocurrencies again, "the boom will return." "It will be a slow process," he added. Hayes also believes that a sharp and sudden depreciation of the Yuan, similar to the one in 2015, could lead to the start of another cryptocurrency bubble. It's worth noting that this is not the first time a former BitMEX director has said something like this. He added that although the Chinese did not engage heavily in the market, they did not leave it. The current global geopolitical situation will eventually force them to do something about the dollars they earn each month from their exports. Hong Kong's reorientation as a pro-cryptocurrency center in the region, according to Hayes, is part of Beijing's broad strategy. So Hong Kong would become a cryptocurrency window to the world of the Middle Kingdom? Technical Market Outlook: The BTC/USD pair has come back down from the high of $21,017 to the demand zone located between the levels of $20,221 - $20,580 and is testing the lower level of this zone. The last 9% strong up move has forced the momentum indicator to hit the extremely overbought conditions on the H4 time frame chart, so a pull-back towards the intraday technical support seen at $20,21 is taking place. Nevertheless, the next target for bulls is seen at the level of $22,410 and if the momentum would have stayed on the elevated levels, this target could be hit even by the end of this week. Weekly Pivot Points: WR3 - $20,025 WR2 - $19,682 WR1 - $19,461 Weekly Pivot - $19,340 WS1 - $19,119 WS2 - $18,997 WS3 - $18,655 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-10-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298767
Bitcoin Has Made A Dynamic And Aggressive Reversal

This information about the draft of Australian budget may be crucial for Bitcoin

Alex Kuptsikevich Alex Kuptsikevich 28.10.2022 10:11
Dogecoin gains from the obvious Bitcoin has regained some of the positions gained earlier in the week, losing 2.7% in the past 24 hours to $20.3K. Ethereum, which was previously rising more actively, is now actively correcting, down 3.5% to $1500. Total crypto market capitalisation is down 2.5%, with top altcoins losing between 1.7% (BNB) and 10% (SHIB) in the past 24 hours. Bitcoin is correcting after touching the $20.8K area, but the price above previous local highs and the 50-day moving average leaves us in a short-term bullish scenario. Dogecoin (DOGE), Elon Musk's favourite coin, has jumped 35% in the last three days, reacting to news of his purchase of the social network Twitter, in the hope that it will be allowed to buy into the social network. On the other hand, overall market pressure prevented Doge from taking the 200-day average with a run-up, causing a wave of profit taking and taking 7% away from the start of the day on Friday. Kazakhstan's digital currency According to CryptoQuant, long-term investors (HODLers) now control the most significant volume of BTC since October 2015. This is a positive sign, as they usually do not sell crypto even during turbulence in the market. Raul Pal, the founder of Real Vision, said the crypto market would grow 300 times to $300 trillion in ten years. He said the crypto sphere is already flooded with venture capital investments, although big players are cautious because of regulatory issues. According to Bitnodes, five countries - the United States, Germany, France, the Netherlands, and Canada - account for the most significant number of nodes that form the bitcoin infrastructure. The Russian Federation is in ninth place with 178 nodes (1.2%). Australia has submitted a draft budget that would make bitcoin a digital asset and not be taxed as fiat foreign currency. Kazakhstan plans to test its digital currency on BNB Chain, the Binance blockchain.
Technical Outlook Of The Further Movement Of Bitcoin

Cryptocurrencies Are The Best Way To Save For Retirement

InstaForex Analysis InstaForex Analysis 29.10.2022 08:25
At the end of the week, interesting reports were received on the activity of institutional investors in the cryptocurrency market. In addition, there is good data on the growth in adoption of digital assets. This, in turn, confirms the long-term bullish outlook for the market. Let's consider everything in order. Fidelity report shows crypto winter resilience The Fidelity Digital Assets survey does not paint a bleak picture of institutional investment in digital assets, although it does indicate that some segments are far more active than others. Fidelity Digital Assets released its annual study of institutional investment in digital assets on October 27th. It shows that digital asset fundamentals remain strong despite headwinds, but adoption remains highly uneven among different types of investors. In its survey of 1,052 institutional investors in Asia, Europe, and the US, Fidelity found that digital asset usage rose by 9% and 11% in the US and Europe, respectively, to 42% and 67%. Asia saw a slight decline in adoption, but still remained in the lead with 69%. One of the biggest jumps observed has occurred in the future intentions of wealthy US investors, with 74% of investors in this category planning to buy or invest in digital assets in the future, up from 31% a year earlier. In general, this figure increased from 71% to 74%. Fidelity Digital Assets President Tom Jessop commented on the report: "Institutional investors are experienced in managing cycles. To a large extent, the inherent factors that they called attractive in this study are likely to remain when the market emerges from this period." The most dramatic conclusion in the report may be the large acceptance gap among types of investors. Wealthy investors, crypto hedge funds/venture capital and financial advisors show much more attachment to digital assets than family offices, pension/defined benefit plans, traditional hedge funds, and endowments and foundations. So while 82% of wealthy investors are "currently buying/investing in digital assets," that figure drops to 7% for traditional hedge funds and 5% for pension funds. Cryptocurrency assets under management rebound after slump Daily cumulative trading volume for institutional crypto investment products fell to a two-year low at a time when prices for most crypto assets continued to trade sideways during the bear market. According to CryptoCompare's latest Digital Asset Management Review report, Digital Asset Product Managed (AUM) assets began to recover last month after a "painful September". AUM rose 1.76% in October to $22.9 billion as of the 25th. The company's report notes that this is the first increase in AUM since July of this year, and that this figure is still well below what was seen during this year's market peak in March. Last month, average daily aggregate volumes across all crypto investment products fell 34.1% to $62.3 million in October. This is a continuation of the downward trend in volumes since November 2021, which only briefly stopped, increasing by 0.39% in May. The report also said that October was the second month since September 2020 that average daily volumes fell below $100 million. Despite falling trading volume, assets under management of investment products based on bitcoin and Ethereum rose by 2.55% and 3.35%, respectively, while trust products increased their assets by 2.33% to $17.7 billion. Thus, the market rose to a five-month high of $77.3. Notably, bitcoin-focused products have shown mixed results over the past 30 days, with returns ranging from -4.7% to 2.7%. At the same time, Ethereum-based products showed returns ranging from -22.1% to 0.8%. During the same period, BTC is up 3.38% against the USD and ETH is up 9.9%. Bitcoin products posted a weekly inflow of $8.37M, while ETH products posted a $5.03M outflow. This may be driven by macroeconomic climate uncertainty as investors seek to invest in more secure crypto products. Charles Schwab: cryptocurrency for retirement savings Financial giant Charles Schwab has published the results of its own study, which showed that cryptocurrency is the best way to save for retirement. "Generation Z and millennials are more likely to invest in cryptocurrencies, real estate, annuities and small businesses than older generations." Titled "401(k) Participant Study - Gen Z/Millennial Focus," the report presents the results of Logica Research's annual online survey of U.S. 401(k) participants for Schwab Retirement Plan Services Inc. In total, the survey included 1,000 401(k) plan members aged 21 to 70 who are actively employed in companies with at least 25 employees. When asked about their current investments, 43% of Gen Z respondents said they invest in crypto, compared to 47% of Millennials, 33% of Gen Xers, and 4% of Boomers. The report goes on to show that investing in cryptocurrencies is one of the top five ways to save for retirement. It is the second most popular retirement savings method for Gen Z respondents and the third most popular for millennials. In terms of how respondents would like to invest in their 401(k) accounts, 39% cited annuities that offer a guaranteed income after retirement, while 32% cited cryptocurrency. Generation Z and Millennial respondents chose cryptocurrency as their top answer.     Relevance up to 10:00 2022-10-31 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/325636
Saxo Bank Podcast: A Massive Collapse In Yields, Fed's Tightening Cycle And More

The Eurozone Releases Its Inflation And FOMC Decision Ahead

Ed Moya Ed Moya 29.10.2022 08:37
US Will the fourth 75 basis-point rate hike be the last major rise before the Fed downshifts in December?  Next week’s FOMC decision is widely expecting a unanimous vote for one last major rate increase. With the Fed’s preferred price measure still showing inflation is running hot, that might make it harder for them to set up a possible downshift in its rate-hike pace for the December meeting. Despite an acceleration with inflation, strong consumer spending data, and a robust labor market, much of Wall Street is growing confident that the Fed will pause tightening once they take the funds rate to 4.50-4.75% next quarter. In addition to the FOMC decision, traders will also closely monitor the nonfarm payroll report.  The strong labor market is still expected to show job growth with 200,000 jobs created in October, down from the 263,000 created in the prior month. The unemployment rate is expected to tick higher and wage gains are expected to slow. It will be another busy week filled with earnings that will likely confirm the slowdown being seen across the economy.  Healthcare, consumer discretionary, energy, and car manufacturer stocks will report next week. EU Inflation has hit double-digits and remains the ECB’s number one priority. The Eurozone releases its inflation report on Monday. Inflation rose to 10.0% in September, and it is expected to surge to 10.3% in October. Some analysts are expecting a possible surge to 11.0%.  Core inflation is projected to tick higher to 4.9%. The Eurozone will release the October Final PMIs, which are projected to indicate contraction, with readings below the 50.0 level. Manufacturing will be released on Wednesday and Services on Friday. Manufacturing is expected at 46.6 and Services at 48.2, confirming the initial estimates. UK The UK releases Final PMIs for October, with Manufacturing on Tuesday, Services on Thursday and Construction on Friday. The 50.0 line separates contraction from expansion. The initial readings were 45.8 for manufacturing and 47.5 for services, indicative of weak economic activity in the UK. Construction may provide a silver lining, with an initial reading of 52.3, pointing to slight expansion. The highlight of the week will be the Bank of England’s rate decision on Thursday. The BoE raised rates by 0.50% in September and is expected to go all in with a jumbo 0.75% hike, which would bring the cash rate to 3.0%. The vote could have two dissenters, which is why markets are expecting a downshift to a half-point pace in December.  The UK may already be in a recession and higher rates will hurt households and businesses, but the BoE has little choice but to continue tightening if it hopes to curb red-hot inflation, which is at 10.1%. Russia The war in Ukraine and the severe Western sanctions have taken a steep toll on consumer spending. In August, real retail sales plunged by 8.8% and September is supposed to be just as bad with an 8.6% decline. South Africa South Africa’s recovery from Covid-19 has been slow and a weak global economy is not helping matters. The October PMI will be released on Thursday. The PMI is expected to rise slightly to 49.7, following a 49.2 read in September. A reading below 50.0 indicates contraction. Turkey Turkey will release the October inflation report on Wednesday. The Turkish central bank continues to slash interest rates, with a 150 basis point cut earlier in October. This policy has seen inflation soar to staggering levels that is more than 17 times the CBRT’s target rate.  CPI rose to a 24-year high of 83.4% in September, and the consensus for October stands at 85.6%. Switzerland Switzerland releases the October inflation report on Thursday. Inflation has been rising in Switzerland, which forced the central bank to raise interest rates by a massive 0.75% in September. Still, inflation is much lower than in the Eurozone or the UK. Headline CPI is expected to tick lower to 3.2%, down from 3.3% in September. China Strict anti-COVID measures are about to send China’s factory activity back  into contraction territory. The global growth outlook will struggle as China’s economy shows their recovery is struggling. Both services and manufacturing data are expected to weaken in October. Currency traders will pay close attention to the PBOC as they have set the yuan reference rate at the weakest levels since 2008. Authorities want a strong yuan, but defending it could prove costly.  They might need to consider narrowing the band. India India’s economy is losing momentum and the latest PMI readings might confirm that trend.  The growth outlook continues to get slashed and the current rate hiking cycle is starting to weigh much more on the economy. The RBI will have an an out-of-cycle meeting next week as the government urges them to get inflation back under 6%.  Traders should not be surprised if some RBI action occurs before the December 5-7th policy decision. Australia & New Zealand The focus is on the RBA policy decision. This meeting could have some added volatility as the general consensus leans towards a 25bp rate rise, but a half-point increase should not be ruled out.  Inflation remains hot and with the cash rate nowhere near inflation, the bank might feel more pressure to act aggressively. New Zealand’s third quarter Employment Change and Unemployment Rate data, due out next Wednesday (2 November), as an increase in employment and a decrease in unemployment will be beneficial to New Zealand’s economic growth. As the overall inflation level in New Zealand remains high, the money markets are pricing in either a half-point rise or 75- basis point rate hike at the RBNZ’s next interest rate meeting on November 23rd. Japan The Bank of Japan did not deliver any surprises. Both rates and the 10-year yield target did not have any changes. The yen remains a volatile trade and now the ball is in the Ministry of Finance hands. With momentum growing for the Fed to shift to a slower pace of tightening in December, Japan may try to be aggressive in defending the dollar-yen 150 level. Traders will also pay close attention to the minutes of the last BOJ decision. Singapore Singapore’s economy is weakening and the October PMI reading should show that the weakening trend continues. Traders will also pay close attention to the retail sales report for the month of September. Markets Energy Oil markets remain volatile as China ramps up COVID restrictions, some US oil giants signal modest commitments to boost production, and the global economic outlook continues to dim.  Next week, energy traders will get a better sense of how China’s economy is performing despite the COVID lockdowns that happened in October. OPEC will also announce their World Oil Outlook on Monday. Commodities broadly will also have a reaction to the FOMC policy decision and nonfarm payroll report. A dovish rate rise could allow for dollar weakness which could keep oil prices supported here.  If risk appetite remains healthy, WTI crude could continue to consolidate above the mid-$80s. Gold The bullish case for gold is improving as financial markets begin to grow optimistic that the Fed will begin the deliberation of a slower pace of tightening.  Gold could be on the verge of a major breakout if the FOMC decision is supported by the nonfarm payroll report at the end of the week.  Gold has initial support at $1640, with the line in the sand being $1,620.  The $1680 provides major resistance for gold, followed by the $1700 level. Cryptos Bitcoin is forming a trading around the $20,000 level as many investors await to see what happens with next week’s market reaction to the FOMC decision. What will also draw extra attention is the Hong Kong Fintech Week, that includes appearances from FTX’s Sam Bankman-Fried, but could contain more insight on how Hong Kong will provide guidelines on how retail crypto trading could be allowed. Binance CEO Zhao and Ark’s Cathy Wood will speak at the Web Summit in Lisbon. Economic Calendar Sunday, Oct. 30 Economic Data/Events: Brazilians vote in a presidential runoff election between Luiz Inacio Lula da Silva and incumbent Jair Bolsonaro. Daylight savings time ends in the UK EU trade ministers informal meeting in Prague Monday, Oct. 31 Economic Data/Events: Eurozone CPI, GDP Poland CPI Mexico GDP Australia retail sales China manufacturing and non-manufacturing PMI Japan industrial production, retail sales, housing starts South Africa trade balance Thailand trade UK mortgage approvals Danmarks Nationalbank conference, speakers include ECB Chief Economist Lane, Riksbank Governor Ingves, and Norges Bank Governor Wolden Bache Bank of Italy Governor Visco and Italian Finance Minister Giorgetti speak at a World Savings Day event. Nordic prime ministers meet in Helsinki for a Nordic Council meeting. Hong Kong Fintech Week: Speakers include FTX’s Sam Bankman-Fried, China Banking and Insurance Regulatory Commission’s Yuanqi and the Securities and Futures Commission’s Leung as speakers. OPEC launches its 2022 World Oil Outlook at the Abu Dhabi International Petroleum Exhibition and Conference. Russian President Putin meets the leaders of Armenia and Azerbaijan in the southern Russian city of Sochi. Tuesday, Nov. 1 Economic Data/Events: US construction spending, ISM manufacturing index, light vehicle sales RBA rate decision: Expected to raise rates by 15bp to 2.85% China Caixin Manufacturing PMI Canada Manufacturing PMI Czech Republic Manufacturing PMI India Manufacturing PMI Japan Manufacturing PMI, Vehicle Sales Mexico Manufacturing PMI Norway Manufacturing PMI Russia Manufacturing PMI South Africa Manufacturing PMI UK Manufacturing PMI Czech Republic GDP Macau casino revenue Mexico international reserves New Zealand building permits Denmark’s general election Riksbank Governor Ingves gives a speech on the economy and monetary policy, in Helsingborg. Web Summit conference; Speakers include Binance CEO Zhao and ARK Investment Management’s Wood Wednesday, Nov. 2 Economic Data/Events: FOMC Decision: Expected to raise rates by 75bps US MBA mortgage applications, ADP employment European Manufacturing PMI: Eurozone, France, Germany, Italy, Poland, Spain Australia building approvals Germany unemployment Japan BOJ minutes of Sept. meeting New Zealand unemployment, central bank Financial Stability Report Russia unemployment, retail sales EIA Crude Oil Inventory Report Bank of Ireland’s Financial System Conference: Speakers include Irish Central Bank Governor Makhlouf, Finance Minister Donohoe and Bank of France Governor Villeroy In Dublin. Thursday, Nov. 3 Economic Data/Events: US factory orders, durable goods, trade, initial jobless claims, ISM services index Bank of England Rate Decision: Expected to raise rates by 75bps to 3.00% UK services PMI Australia trade balance China Caixin services PMI Eurozone unemployment India S&P Global services PMI Italy unemployment Norway rate decision: Expected to raise rates by 25bps to 2.50% Russia services PMI Spain unemployment G-7 foreign ministers to meet in Munster, Germany German Chancellor Olaf Scholz visits China RBA’s Kearns speaks at the ASIC Annual Forum in Sydney. ECB’s President Lagarde and Elderson speak at Latvijas Banka Economic Conference 2022. ECB’s Panetta gives a keynote speech at ECB money market conference. BOE’s Mann speaks on a panel about inflation at an American Enterprise Institute web event. Friday, Nov. 4 Economic Data/Events: US October Change in nonfarm payrolls: 200Ke v 263K prior, unemployment Rate to tick higher to 3.6%, Average Hourly Wages European Services PMI: Eurozone, France, Germany, Italy, Spain Japan Services PMI Canada unemployment Eurozone PPI France industrial production Germany factory orders Singapore retail sales Spain industrial production Thailand CPI The UN’s Food and Agricultural Organization releases its monthly index of world food prices. ECB’s VP de Guindos gives a keynote speech at the Energy Prospectives session ECB President Lagarde gives a lecture on monetary policy in the euro area organized by Estonia’s central bank. Fed’s Collins speaks on macroeconomic conditions at a Brookings Institution virtual event. Sovereign Rating Updates: France (Fitch) Ireland (Moody’s) Norway (Moody’s) This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
The Bitcoin Fall Will Likely Continue In The Future

Bitcoin: A Strong Doubt The Growth Of The Cryptocurrency

InstaForex Analysis InstaForex Analysis 30.10.2022 12:01
Bitcoin managed to leave the junior side channel of $18,500-$20,400 this week, but this does not change the essence since the higher side channel of $18,500-$24,350 remains, in which the price has been for four months. But what is important is to exit the descending channel on the 4–hour TF and consolidate above the trend line on the 24–hour. These two anchors allow the cryptocurrency to stay inside the side channel for as long as it wants, far from the narrowest. The cryptocurrency has grown by several thousand dollars after the fifteenth bounce from the $18,500 level. Still, we have repeatedly warned that bounces from this level can be used for small purchases, and growth is possible. It's just that while the price is located inside the side channel, it is impossible to count on trend movement. After all, we are interested in the trend, not movements within a limited price range. There will be several interesting events for bitcoin next week that may affect its value. First of all, this is the Fed meeting, at which, there is no doubt, rates will be raised again. Most likely, the rate will rise to 4%. Recall that any tightening of the Fed's monetary policy is a negative factor for all risky assets. Therefore, we will not be surprised if bitcoin drops back to the $18,500 level by the end of the week. As before, we do not see any prospects for the growth of the first cryptocurrency. There are simply no fundamental reasons for this. Of course, this does not mean that bitcoin cannot grow in principle. However, based on fundamental analysis, such a probability is small. Do not forget that bitcoin or any other cryptocurrency can grow because it is bought at a given time. And traders and investors can buy without any reason. Therefore, it is unnecessary to exclude "bitcoin" growth completely. But so far, its potential growth is limited to $24,350. If the quotes consolidate above this level, it will be possible to talk about forming a new "bullish" trend. Considering that bitcoin grew by 2 thousand dollars when Elon Musk bought Twitter, and after that, it stood still, we strongly doubt the growth of the cryptocurrency, even by 1-2 thousand dollars. For several months, "bitcoin" quotes have been unable to break through the $18,500 (127.2% Fibonacci) level in the 24-hour timeframe. Thus, we have a side channel, and it is unclear how much time Bitcoin will spend on it. We recommend not rushing to open positions. It is better to wait for the price to exit this channel and only then open the corresponding transactions. Overcoming the $18,500 level will open the way to the $12,426 level. Bounces from $18,500 can still be used for small purchases.   Relevance up to 10:00 2022-10-31 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/325706
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Cryptocurrencies In The Retirement Plans Of Millennials And Gen Z Generations

InstaForex Analysis InstaForex Analysis 31.10.2022 08:43
Crypto Industry News: As the global financial ecosystem continues to undergo major changes, young investors in the United States are increasingly leaning towards cryptocurrency assets as an alternative investment option to add to their retirement plans. A recent study by Charles Schwab, an American asset manager, of approximately 1,100 people who have 401 (k) retirement plans and are between the ages of 21 and 70, revealed a growing interest in digital assets. About 45% of millennials and 46% of Gen Z revealed they wanted to invest in cryptocurrencies when asked what investment products they would like to have added to their retirement plan. The study also found that 43% of Gen Z and 47% of Millennials have already invested in cryptocurrencies outside of their 401 (k) accounts. This considerable interest in cryptocurrencies among Gen Z and Millennials contrasted with the moods of much older investors - Gen X and baby boomers. According to the survey, only 31% of Gen X respondents and 11% of boomers want to invest in cryptocurrency assets under 401 (k) plans. Even more disappointing is the percentage of those older investors who already hold positions in the cryptocurrency market. 33% of Gen X admit to owning cryptocurrencies. From the boomer group, it is only 4%. The study also found that rising inflation remains the biggest barrier to retirement for all investors who continue to seek safer investment vehicles to hedge against difficult economic conditions. Technical Market Outlook: The BTC/USD pair has tested the highs of $21,017 again over the weekend, however no breakout was made. The market reversed again towards the demand zone located between the levels of $20,221 - $20,580 and broke below the 30 periods moving average. The last 9% strong up move has forced the momentum indicator to hit the extremely overbought conditions on the H4 time frame chart, so a pull-back towards the intraday technical support seen at $20,21 is taking place.The momentum has hit the level of fifty already, so the lower level of the demand zone seen at $20,211 might be tested soon. Weekly Pivot Points: WR3 - $20,969 WR2 - $20, 737 WR1 - $20,585 Weekly Pivot - $20,489 WS1 - $20,346 WS2 - $20,252 WS3 - $20,014 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298989
Bitcoin Is Showing The Potential For The Further Downside Rotation

Bitcoin Has Registered Only A False Breakout, What To Expect Next?

InstaForex Analysis InstaForex Analysis 31.10.2022 11:22
Bitcoin slipped lower after failing to make a new higher high but the bias remains bullish in the short term. It was traded at 20,507 at the time of writing. The price action developed a potentially bullish pattern. BTC/USD dropped by 3.03% from Saturday's high of 21,078 to 20,439 today's low. In the last 7 days, the cryptocurrency is up by 6.13% but is down by 1.14% in the last 24 hours. The price could test and retest the near-term support levels before jumping higher. BTC/USD Retests Buyers! As you can see on the H1 chart, the crypto found resistance around 21,012 again and now it has dropped. It has registered only a false breakout and now it was almost to reach 20,381 static support. As long as the token stays above the uptrend line, it could develop a new bullish momentum. BTC/USD Forecast! An upside breakout from the current pattern may signal further growth. A new long opportunity could be confirmed by a valid breakout through the 21,012 level.     Relevance up to 10:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299014
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

According To Peter Schiff, High Inflation Is The Result Of Cheap Money Policies

InstaForex Analysis InstaForex Analysis 01.11.2022 08:34
Crypto Industry News: According to Peter Schiff, the monetary policy of the US central bank will lead to a catastrophe. Schiff is an American economist, president of Euro Pacific Capital and economic advisor to Ron Paul - the 2008 presidential candidate. During the last episode of "The Peter Schiff Show" he described the effects of the Fed's monetary policy. Schiff says the current record high inflation is the result of years of "cheap money" policies, not a "late reaction" from the Federal Reserve and too late raising interest rates in the past two years. According to Schiff, all that is happening now is an accumulation of "misinvestments, misallocation of resources, monumental errors that have been committed across the economy by government, private sector, corporations, private individuals." In his opinion, former President George Bush was right to say that Wall Street got "drunk" on cheap money after the 2008 financial crisis, which led to many stupid investment decisions. "Why was everyone on Wall Street drunk? Where did they get their alcohol? Who got them drunk? It was the Federal Reserve. It was Alan Greenspan. He was a bartender. He was still serving drinks. That's why Wall Street was drunk" - continued Schiff. In his opinion, we are headed for a "real catastrophe". Other well-known investors, including Stanley Druckenmiller and Elon Musk, have made similarly pessimistic outlooks for the economy. The former said the recession is sure to come by the end of 2023, while the latter estimates the economy will not recover until spring 2024. Technical Market Outlook: The BTC/USD pair has tested the lows of the demand zone located between the levels of $20,221 - $20,580 and broke back above the 30 periods moving average. The last 9% strong up move has forced the momentum indicator to hit the extremely overbought conditions on the H4 time frame chart, so a pull-back is still taking place, however any violation of the local trend line might cause a rally toward sthe last swing high seen at $21,071. The momentum has broken above the level of fifty already, so the odds for an up move continuation are higher. Weekly Pivot Points: WR3 - $20,969 WR2 - $20, 737 WR1 - $20,585 Weekly Pivot - $20,489 WS1 - $20,346 WS2 - $20,252 WS3 - $20,014 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 2022-11-02 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299167
The Melbourne Institute Inflation Gauge For Australia Rose More Than Expected

The Reserve Bank of Australia (RBA) Hikes By 25bp | Bitcoin Could Rebound

Swissquote Bank Swissquote Bank 01.11.2022 10:06
Equities fell and bond yields rose, as the hawkish Federal Reserve (Fed) fears resurfaced before Wednesday’s FOMC decision. Fed The Fed starts its two-day meeting, and could call the end of the aggressive rate tightening and signal slower rate hikes to enter the final phase of policy tightening, before pausing. But the Fed will not want to throw the foundation of a market rally, which could play against its fight against inflation. Eurozone In the Eurozone, inflation hit a record high of 10.7% in October, versus 10.2% expected by analysts, and the European Central Bank (ECB) Chief Christine Lagarde said that inflation came from nowhere, ignoring a decade-and-a-half of aggressive bond buying that threw the foundations of the present spike in inflation, boosted by the pandemic, the war and a global energy crisis The Eurozone yields spiked on expectation that higher inflation would mean higher ECB rate hikes in the future. But the euro didn’t gain, as currency traders priced in the rising recession fears that come along with the higher interest rates. Rate Hike In Australia, the Reserve Bank of Australia (RBA) raised the interest rates by 25bp as expected and said there will be more rate hikes. The Losses In Switzerland, the Swiss National Bank announced a 142 billion franc loss in the first nine months of the year; melting currency valuations, especially the melting euro, was to blame. Gold In precious metals, gold remains under pressure. The $1615 is the next important support. If the US dollar strengthens as a result of a sufficiently hawkish Fed statement this week, gold bears could pull out the $1615 support and tip a toe into the $1500s for the first time since April 2020. Watch the full episode to find out more! 0:00 Intro 0:28 EZ inflation hits record, EZ yields rise, but euro falls 2:24 Two-day FOMC meeting starts today. What to expect? 5:28 Quick update: Apple, Exxon 6:56 How could oil respond to Fed decision? 7:55 RBA hikes by 25bp 8:18 SNB loses 142 billion francs 8:46 Gold to test important support 9:08 Bitcoin could rebound if risk appetite improves Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Fed #FOMC #RBA #rate #decision #Eurozone #inflation #crudeoil #ExxonMobil #Apple #Foxconn #China #covidzero #USD #AUD #EUR #CHF #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Technical Analysis Of The Bitcoin's Movement

InstaForex Analysis InstaForex Analysis 02.11.2022 08:44
Technical analysis: BTC/USD has been trading downside as I expected and there is still potential for further drop. I found the breakout of the rising channel in the background. Trading recommendation: Due to the breakout of the rising channel in the background, I see potential for further downside movement towards downside reference level. Watch for the potential selling opportunities on the intraday rallies with the downside objective at the price of $20.260 and $20.300. Stochastic oscillator is showing downside fresh bear cross, which is sign that sellers are in control Key resistance is set at the price of $20.550   Relevance up to 08:00 2022-11-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299338
Bitcoin Has A Sign Of The Sideways Regime

Bitcoin: There Is Untested Level Of Technical Support

InstaForex Analysis InstaForex Analysis 02.11.2022 08:46
Crypto Industry News: India's central bank, Reserve Bank of India (RBI), is launching a pilot program for the digital rupee. Nine banks are participating in the project. "Settlements in central bank money would reduce transaction costs," claims the central bank. India's central bank announced on Monday that "the first digital rupee pilot program will begin on November 1, 2022". The announcement added: "Nine banks namely State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC were selected to participate in the pilot program." The aim of the pilot is to test the settlement of transactions on the secondary market based on government securities. According to the RBI, "the use of e-rupees is expected to increase the efficiency of the interbank market." Accounting "in central bank money will lower transaction costs." The central bank also noted that future pilots will focus on wholesale transactions and cross-border payments. Technical Market Outlook: The last 9% strong up move of Bitcoin has forced the momentum indicator to hit the extremely overbought conditions on the H4 time frame chart, so a pull-back is still taking place. Any violation of the local trend line might cause a rally towards the last swing high seen at $21,071. Nevertheless, it is worth to mention, that any breakout below the demand zone low seen at $20,211 would have extend the sell-off towards the recent low seen at $20,016 or below. Please notice, there is untested level of technical support seen at $19,686. Weekly Pivot Points: WR3 - $20,969 WR2 - $20, 737 WR1 - $20,585 Weekly Pivot - $20,489 WS1 - $20,346 WS2 - $20,252 WS3 - $20,014 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 2022-11-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299346
Powell's Statements On The Future Policy Of The Fed Will Help Bitcoin

Powell's Statements On The Future Policy Of The Fed Will Help Bitcoin

InstaForex Analysis InstaForex Analysis 02.11.2022 14:15
The events of the previous trading week indicate that buyers have begun to return to the cryptocurrency market. Bitcoin and major cryptocurrencies have gone beyond the consolidation channels and are moving towards local highs. There is a recovery of on-chain metrics of daily trading volumes and activity of unique addresses in the BTC network after a decline over the weekend. This is an important signal of growing buying activity and the desire to continue moving upward. Fed meeting On November 2, an important meeting of the Fed is expected, where the markets can hear key theses about the future policy of the regulator. Over the past few months, the uncompromising position of the Fed has led the markets to expect a recession in the US economy in the next six months. At today's meeting, investors want to hear signals from the regulator about a change in current policy. In anticipation of the meeting, Morgan Stanley experts noted that the money supply in the markets has declined significantly. This means that in the coming months, inflation will begin to decline rapidly. If the Fed comes to a similar conclusion, it will fuel another upward spurt for cryptocurrencies and stock indices. At the same time, it is expected that the key rate will again be raised by 75 bps, but this decision is already included in the price. The state of the markets before the Fed meeting The main stock index S&P 500 has reached a resistance zone near the $3,900 level. Over the past five days, a clear dominance of the bears is visible, and the technical metrics on the daily timeframe are gradually turning sideways. This means that the SPX has lost its local bullish momentum. The US dollar index locally recovered to the level of 111, but subsequently, the buying activity decreased. The stochastic oscillator has formed a bearish crossover, which indicates the dominance of sellers. Overall, the DXY is dominated by selling with sluggish attempts by the bulls to even out the situation. The correction of the US dollar index continues, which is a positive signal for BTC. Local bottom not formed? Glassnode analysts said in a weekly report that there are no signs of a local market bottom forming. It is likely that in the near future, Bitcoin will need an additional "redistribution" phase, during which large amounts of BTC will pass into the hands of long-term owners. For the market, this means an increase in volatility and impulsive price movements in order to knock out investors' positions. There is already growing volatility in BTC, which will break the asset's correlation with gold and make the cryptocurrency more unpredictable. In addition, daily BTC trading volumes on exchanges reached $543 billion. This value is the lowest since December 2020. Increased volatility and low trading volumes are ideal conditions for an additional stage of "redistribution," so active trading in the market will become more dangerous in the near term. BTC/USD Analysis Given the data from Glassnode, one can conclude that massive amounts of liquidity below the $17.6k level will be collected. As of November 2, Bitcoin is trying to gain a foothold above the downward trend line at $20.4k. After the Fed meeting, there will be a surge in volatility that can send the price in any direction. In the next few days, it will become clear whether BTC is ready for further upward movement or to retest the local bottom. An increase in the key rate and Powell's statements on the future policy of the Fed will help Bitcoin either gain a foothold above $20.4k. This will allow the cryptocurrency to continue its bullish move to the $22k level. If it finally consolidates below $20k, the price will head towards the $19.5k support zone and continue its downward movement towards the current market bottom.     Relevance up to 10:00 2022-11-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/326032
Stablecoins Could Be Used As A Way Of Storing Capital

The Polymesh Team Is Also Working On Stablecoin Infrastructure

Binance Academy Binance Academy 02.11.2022 15:26
TL;DR   Polymesh is a public permissioned layer 1 blockchain focused on improving the security token industry. Using its utility token POLYX, it rewards and fines actors in the blockchain ecosystem accordingly to increase blockchain security. POLYX also facilitates governance and staking within its ecosystem. Introduction   Securities are tradable financial instruments that hold real-world value. By tokenizing securities, the securities market — which is worth hundreds of trillions — has the potential to grow even more. This could improve the market’s efficiency and transparency, among other benefits.  Tokenized securities, or security tokens, are issued on blockchains such as Polymesh, which is an institutional-grade blockchain built specifically for regulated assets like security tokens.  Learn more on Binance.com What is Polymesh? Polymesh is a layer 1 public permissioned blockchain built for security tokens, which  are digital contracts for fractions of assets that hold real-world value.  As a public permissioned blockchain, anyone can view the network. However, you must complete an identity verification process to participate in it. This verification process applies to all actors on the chain, from issuers and investors to stakers and node operators.  Node operators in particular must be permissioned and licensed financial entities. This increases network security, since these entities face greater reputational risk than unidentifiable actors.  Polymesh enables market participants to enjoy the unique benefits of private and permissionless networks, offering trust in the network without compromising on transparency. How does Polymesh work?   Node operators and stakers work together to secure the layer 1 blockchain and validate blocks.  Node operators who successfully validate blocks are rewarded in POLYX, Polymesh’s utility token. Stakers stake their POLYX on node operators to increase the latter’s chance of being selected for the validator pool every 24 hours. After node operators collect a commission of up to 10%, stakers will receive POLYX. Securing Polymesh Polymesh employs a Nominated Proof-of-Stake (NPoS) consensus model, which was developed by Polkadot, to define the network's roles, rules, and incentives. This system is designed to help increase the blockchain’s security, as it makes harmful behavior costly and difficult to execute. Through this mechanism, node operators and stakers are rewarded or fined in POLYX, according to their performance.  Polymesh’s fee structure Many public permissionless blockchains have a fee market, where fees can vary greatly in a matter of seconds. For instance, if users compete for space on the blockchain to run code or store data (i.e., the blockspace), this would likely incur higher fees. Polymesh keeps transaction costs low and consistent by basing fees on the on-chain weight (in bytes) and complexity of the transaction, with Polymesh Governance having the authority to adjust the rate. Polymesh Governance is a democratic system consisting of a council of key stakeholders, the Polymesh Governing Council, and POLYX holders.  The Polymesh Governing Council sets and charges protocol fees for certain native functions, such as reserving a token ticker. Fee payment is split at a 4:1 ratio between the Network Treasury — maintained by Polymesh Governance — and node operators. Network Treasury funds are typically used for improving or securing the network.  What makes Polymesh unique?  Polymesh is one of the few layer 1 blockchains built for security tokens. Currently, most securities-focused projects are layer 2 initiatives built on pre-existing blockchains like Ethereum or Solana. Polymesh, however, is a standalone layer 1 blockchain. With its infrastructure, Polymesh hopes to improve the security token industry by solving governance, identity, compliance, confidentiality, and settlement challenges.  Governance  Built on the Substrate framework, Polymesh takes advantage of seamless upgrades to offer forkless architecture, so there will only ever be one version of the chain. An on-chain governance model featuring a council of key stakeholders can easily resolve any issues. Identity  Unlike most public blockchains that allow anyone to participate, Polymesh’s mandatory identity verification process generates an on-chain identity for every individual or entity participating in the network. On-chain interactions can be traced back to known, real-world entities. Compliance The ability to create and manage security tokens is built into the base layer of the blockchain. Additional characteristics like compliance and rules are optional and can be automated and enforced at the token level via smart contracts. Confidentiality Polymesh’s protocol MERCAT (Mediated, Encrypted, Reversible, SeCure Asset Transfers) enables confidential asset issuance and transfers. Users can maintain trade privacy, while Polymesh does not have to sacrifice compliance or transparency.  Settlement Instant settlement is possible for both on- and off-chain assets through Polymesh’s on-chain settlement engine, two-way transaction affirmation, and near-instant deterministic finality. What is POLYX?   POLYX is Polymesh’s native token. It is classified as a utility token under Swiss law, based on guidance from Swiss financial regulator FINMA. POLYX is used for governance, securing the chain through staking, and creating and managing security tokens. Governance  Governance is facilitated through Polymesh Governance. Any verified POLYX holder can influence Polymesh’s direction in two ways: submitting a Polymesh Improvement Proposal (PIP) or voting using POLYX. To submit a PIP, a user has to bond POLYX to it using Polymesh Governance. Once approved, PIPs are voted on by the Governing Council for implementation.  Staking  Any verified POLYX holder can participate in staking by bonding POLYX to a node operator of their choice to increase that operator’s chance of receiving rewards.  The Polymesh ecosystem Existing participants in Polymesh’s ecosystem include cryptocurrency exchanges, experienced players in the tokenization space (Polymath), and companies with sizable security token portfolios (RedSwan). The Polymesh Association aims to encourage further development through two programs:  The Grants Program for individuals and businesses building open-source functionality on Polymesh. The Ecosystem Development Fund for businesses with closed-source technology that integrate Polymesh. There is a wealth of information available for developers who want to integrate Polymesh, including the Polymesh SDK library and dedicated support channels for the community. How to buy POLYX on Binance?   You can buy POLYX on cryptocurrency exchanges like Binance.  1. Log into your Binance account and go to [Trade] -> [Spot].  2. Type “POLYX” in the search bar to view the available trading pairs. We will use POLYX/BUSD as an example. 3. Go to the [Spot] box and enter the amount of POLYX you want to buy. In this example, we will use a market order. Click [Buy POLYX] to confirm your order, and the purchased POLYX will be credited to your Spot Wallet. Closing thoughts   To build an improved security token space, the Polymesh team is also working on other areas, including stablecoin infrastructure, non-fungible token (NFT) implementation, confidentiality via the MERCAT protocol, and user onboarding.
Bitcoin Is Showing A Good Sign That Buyers Are In Control

Bitcoin Investments: MicroStrategy Announced A Reduction In The Level Of Losses

InstaForex Analysis InstaForex Analysis 03.11.2022 09:10
Crypto Industry News: MicroStrategy, the largest corporate bitcoin holder, announced a reduction in the level of losses resulting from investments in BTC in the third quarter of 2022 Michael Saylor assures that the company plans to continue purchases and HODLing of the largest cryptocurrency. The 2022 third quarter earnings report for MicroStrategy revealed a narrowed loss on bitcoin investment of $ 27.1 million. The technology giant is constantly buying BTC despite the prevailing downturn. The company announced at the end of the third quarter of 2022 that it currently owns 130,000 BTC. This amount is also 0.62% of all BTC owned by investors. The company said the total cost of investing in the digital asset is $4 billion. The average price at which MicroStrategy acquired the largest cryptocurrency was $30,639. On November 1, the company reported impairment write-offs for the third quarter in the amount of $727 000. This figure is significantly less than the $917.8 million recorded in the second quarter of 2022, or the $65 million recorded in the previous year's third quarter. An impairment loss is used in accounting to describe a decline in the value of assets held by businesses. Technical Market Outlook: The BTC/USD pair made a false breakout above the local trend line, reversed and is moving lower. It is worth to mention, that any breakout below the demand zone low seen at $20,211 would have extend the sell-off towards the recent low seen at $20,016 or below. Please notice, there is untested level of technical support seen at $19,686. Weekly Pivot Points: WR3 - $20,969 WR2 - $20, 737 WR1 - $20,585 Weekly Pivot - $20,489 WS1 - $20,346 WS2 - $20,252 WS3 - $20,014 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.     Relevance up to 08:00 2022-11-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299531
Bestway Might Have Larger Designs On The UK's Second Biggest Supermarket

Eyes On Bank Of England (BoE) | Gold Is Under Pressure

Swissquote Bank Swissquote Bank 03.11.2022 10:35
Jerome Powell abated the latest risk rally yesterday, saying that the rate hikes will slow down, but the levels will go higher. Equities sold off, the yields jumped, the dollar gained, and hopes of seeing the end of the market turmoil got completely dashed. US Stock Market The US 2-year yield soared to 4.90%. The Dow Jones lost more than 1.50%, the S&P500 dived 2.50% and Nasdaq fell more than 3%. Forex In the FX, the prospect of higher terminal rate from the Fed boosted the USD appetite. The dollar index gained yesterday, as the EURUSD slipped again below its 50-DMA, Cable slipped below 1.14, the dollar-franc is back above parity, the dollar-yen is set for another advance to 150 on the back of the diverging rate prospects between the Fed that is now set to increase rates slower, but higher, and the Bank of Japan (BoJ), set to do nothing, for now. Gold & Bitcoin Gold is also under the pressure of a stronger US dollar and the higher US yields. Bitcoin, on the other hand, is surprisingly resilient to the broad risk selloff. Crude Oil The barrel of American crude rose to $90, as the latest EIA data showed that the US crude inventories fell by more than 3-million-barrel last week, much faster than a 200’000 barrel decline expected by analysts. Bank Of England Today, the Bank of England (BoE) is also expected to raise rates by 75bp today, but that expectation is down from around 100-150bp hike expected when Liz Truss was busy shaking the financial markets with her crazy mini budget. The BoE should no longer act twice as aggressively to compensate for the actions of an irresponsible government, but it still must fight the rising inflation in Britain. Watch the full episode to find out more! 0:00 Intro 0:25 Powell points at slower but higher rates, investors sell assets 4:13 Oil up on falling inventories 5:00 USD up against majors 7:05 BoE to hike by 75bp today 8:13 Gold under pressure, but Bitcoin surprisingly resilient Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Fed #FOMC #rate #decision #USD #ADP #US #jobs #report #crudeoil #Apple #Amazon #Meta #Google #ExxonMobil #selloff #UK #inflation #BoE #GBP #EUR #XAU #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
"Private investors will be required to increase their gilt exposure by at least £268bn in FY2023-24"

The Bank Of England (BoE) Will Likely Hike Rates By 75bps

Craig Erlam Craig Erlam 03.11.2022 12:02
Equity markets are coming under some pressure on Thursday, with Asia mostly in the red and Europe poised to open almost a percentage point lower. Chinese stocks are among the worst hit after the National Health Commission sought to quash rumours on social media that the country is studying ways to exit Covid-zero. That sparked a strong rally earlier this week which has only partly been reversed following the clarification. Perhaps that’s a sign of how low stocks have fallen that investors are keen to jump back in on any bullish story, well-founded or not. Maybe there’s a view that there’s no smoke without fire and the denial is not entirely honest. We’ll see over the coming days whether other officials seek to put an end to those rumours but it is interesting how few rejections there have been and a number of days have now passed. The Fed gives with one hand and takes with the other Just as investors believed they’d secured the dovish pivot they so craved, Chair Powell stepped up to deliver another crushing blow to the markets. Well, that’s how it’s been perceived initially but that could change once the dust settles. The acknowledgment that future decisions will take into account cumulative tightening and policy lags was a strong nod to slowing the pace of tightening in December, barring some frankly terrible data in the interim. That is exactly what investors wanted to hear. What they didn’t want was the claim that rates could go higher than they previously thought and they still have some way to go. This is still a net positive as a slower pace buys them time to see an improvement in the data and ease off the brake ensuring the least economic cost. That’s not to say a recession will be avoided but maintaining 75bps makes that job much harder. There are two jobs and inflation reports to come before the December meeting. By that time, things may look a little more promising and less uncertain. ​ Who’d want to be at the BoE right now? The Bank of England will likely join the Fed in raising rates by 75bps later today. The central bank has had the unenviable job of fighting soaring inflation amid enormous economic and political uncertainty. In recent months the country has had three prime ministers, three very different economic agendas, and no budgets outlining them. Not ideal for a central bank that’s fighting double-digit inflation. It hasn’t handled things perfectly this year either, that’s clear. It’s taken a far more cautious approach than others leaving it in the situation now that it must raise rates aggressively and publish economic forecasts with little insight into government spending and tax plans. The outlook is uncertain enough without that. A crushing blow Bitcoin also saw its hopes crushed as Powell took to the stage and spoiled the party. An initial rally to $20,800 was quickly wiped out and the sell-off didn’t stop there. Bitcoin ended the day lower but managed to survive a run at $20,000. Whether it can hold above here will depend on tomorrow’s jobs data. Another red-hot report could weigh heavily on risk appetite and see bitcoin slip back below $20,000 once more. ​ For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Technical Outlook Of The Further Movement Of Bitcoin

Bitcoin Has A Good Sign For Further Upside Movement

InstaForex Analysis InstaForex Analysis 04.11.2022 09:16
Technical analysis: BTC/USD has been trading upside and I found the breakout of the triangle pattern in the background, whic his good sign for further growth. Trading recommendation: Watch for the buying opportunities on the intraday dips with the upside objectives at the price of $21.100 and $22.500. Stochastic oscillator is showing upside reading, which is good sign for further upside movement. Key support is set at hte price of $20.000       Relevance up to 08:00 2022-11-05 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299707
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Cryptocurrencies Are The Dominant Methods Of Financing Terrorism

InstaForex Analysis InstaForex Analysis 04.11.2022 09:21
Crypto Industry News: Terrorists finance their activities with cryptocurrencies, warn UN officials According to UN officials, cash and hawala remain "the dominant methods of financing terrorism." However, "advanced" terrorist organizations are turning to cryptocurrencies. According to Svetlana Martynova, the United Nations (UN) Coordinator for Counter-Terrorist Financing, terrorist groups that have been excluded from the "formal financial system" have turned to harness the power of cryptocurrencies to fund their activities. A UN official made comments during a speech at a "Special Meeting" organized by the UN Counter-Terrorism Committee (CTC) in New Delhi and Mumbai on October 28-29, which focused on combating the use of "new and emerging technologies" for terrorist purposes. Martynova said cash and hawala - the traditional money transfer system in Arab and South Asian countries - are the "dominant methods" of financing terrorism. Martynova noted that new technologies of interest to terrorist organizations include cryptocurrencies that have been used to "create opportunities for abuse," she said, adding: "If they are excluded from the formal financial system and want to buy or invest in something anonymously, and are advanced at it, they will likely be abusing cryptocurrencies". Technical Market Outlook: The BTC/USD pair rebound again from the demand zone and is trying to break through the local trend line located around the level of $20,800. The momentum broke above the level of fifty already, so the bulls are trying hard to resume the recent rally. The target is seen at the level of $21,017. It is worth to mention, that any breakout below the demand zone low seen at $20,211 would have extend the sell-off towards the recent low seen at $20,016 or below. Please notice, there is untested level of technical support seen at $19,686. Weekly Pivot Points: WR3 - $20,969 WR2 - $20, 737 WR1 - $20,585 Weekly Pivot - $20,489 WS1 - $20,346 WS2 - $20,252 WS3 - $20,014 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.     Relevance up to 09:00 2022-11-05 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299715
Bitcoin Is Showing A Good Sign That Buyers Are In Control

Turmoil In The Financial Markets Can Restore The downward Trend For Bitcoin

InstaForex Analysis InstaForex Analysis 04.11.2022 10:58
How long will the crypto winter last? The decline in venture funding and history say one thing, the US midterm elections and the decrease in the correlation of crypto assets with US stock indices say another. Such is the market. There can be no single opinion. Not everyone can be winners at once. There will always be people who have lost money. Our task is not to be among them. According to JP Morgan research, the volume of venture capital financing in crypto assets in the third quarter collapsed to $4.4 billion, which is more than an annual minimum. According to the bank, this is a disturbing development, indicating a loss of interest in the crypto industry. Most likely, the decline in BTCUSD in July–August was not a purely seasonal event, as previously assumed. Dynamics of Venture Funding in the Crypto Industry The bitcoin bear market is not over yet, CryptoCompare also says. The research company draws attention to previous downward trends: in 2013 and 2017, the value of the token decreased by 83% and 87%, while the fall lasted 364 and 406 trading days. Currently, the drawdown is 73%, and the decline in BTCUSD quotes continues for 357 days. According to CryptoCompare, some kind of event will happen in the near future that will provoke a serious turmoil in the financial markets and restore the downward trend for bitcoin. S&P 500 and Bitcoin during bear markets At the same time, the stability of the leader of the cryptocurrency sector to factors that were previously among the main drivers of changes in BTCUSD quotes suggests that investors are looking for new assets and find them in the digital sphere. Indeed, if US stocks collapsed in response to Jerome Powell's announcement that the peak federal funds rate will be higher than currently assumed, then bitcoin held its own. It quickly regained lost positions and is set to return to the local peak of 21,000 that emerged at the end of October. Such dynamics of the token led to a decrease in its 30-day correlation with the Nasdaq Composite to 0.26, the lowest level since the beginning of January. The connection of 0.75 and above, which has been observed throughout most of the year, is considered strong, and in May and September it approached the ideal values of 0.93 and 0.96. When most of the speculators, dissatisfied with the fall in volatility, capitalization from almost $3 trillion in November to $984 million and daily trading volumes for the leader of the cryptocurrency sector from 700 million to 61.3 million, leave, the remaining holders hint that the bottom has already been reached. It's time to move on to growth. Moreover, the Republicans, who have repeatedly insisted on regulating the crypto assets sector, are most likely to win the midterm elections in the United States. Technically, on the BTCUSD daily chart, the rebound from the moving averages increases the risks of forming a Broadening Wedge pattern. We keep the longs formed from the 20,100–20,200 area and build them up in case of updating the local high at 21,000.     Relevance up to 09:00 2022-11-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/326256
The G20 And IMF Are Already Preparing Their Crypto Regulation

There Are No Positive Signs For The Cryptocurrency Market

Conotoxia Comments Conotoxia Comments 04.11.2022 13:02
Since the beginning of the year, the cryptocurrency market seems to have been in a cyclical downturn. According to data from the Statista portal, the capitalization of the entire market has fallen by about 58% since the beginning of the year, from $2.3 trillion to $0.97 trillion. Still, in terms of capitalization, bitcoin tops the list, accounting for about 40% of the cryptocurrency market's turnover, according to Coingecko statistics. Additionally, more than 90% of all 21 million bitcoins have already been dug up. The biggest winners since the beginning of 2022 among the TOP 200 according to the current capitalization of the Cryptorank portal are: BinaryX (116% YTD) Trust Wallet Token (57% YTD) ABBC coin (31% YTD) Bitgert (15% YTD) UNUS SED LEO (14% YTD). Green cryptocurrencies? After numerous votes and statistics regarding the CO2 emissivity of the system for digging cryptocurrencies, of which bitcoin is one, many projects have decided to change their computing architecture to "Proof of Storage" or "Proof of Stake." The largest project that has done this is Ethereum. It is estimated that ETH's energy consumption has decreased by 99.99%. Additional examples of green cryptocurrencies include: Cardano (-81% y/y)., Stellar (-67% y/y), and IOTA (-80% y/y). The most volatile cryptocurrencies since the beginning of 2022, according to the Cryptorank portal, are:  Bankera (OLD) (41990% YTD) Tierion (15588% YTD) Insolar (12286% YTD) smARTOFGIBING (4890% YTD). AREON (4027% YTD) As it turns out, the current year has been extremely difficult for the broad market. Someone could get the feeling that cryptocurrencies have become one of the biggest beneficiaries of low interest rates and global additions. Presently, they seem to appear as one of the biggest casualties. Additionally, this seems not to be helped by the damaged confidence towards stablecoins. Until countries change their monetary policies and attitudes towards the cryptocurrency market, there seem to be no positive signs for them. Source: Conotoxia MT5, BTCUSD, Weekly What might 2023 bring? According to current interest rate market assumptions, 2023 could see stabilization in U.S. interest rates above 5 percent. At that time, inflation could also fall below the interest rate. This could, in theory, bring calm to the financial markets. Meanwhile, bitcoin could begin a new halving cycle, which will take place in 2024. Perhaps the current cyclical downturn comes to an end by 2022, and 2023 may be more kind to cryptocurrency holders. Grzegorz Drozdz, Junior Market Analyst at Conotoxia Ltd. (Conotoxia investment service) Read more reviews and open a demo account at invest.conotoxia.com Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. The personal opinion of the author does not represent and should not be constructed as a statement or investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
From UFOs to Financial Fires: A Week of Bizarre Events Shakes the World

Fed Fear That The Dovish Pivot Will Send The Wrong Signal And The Markets Would Overreact

Craig Erlam Craig Erlam 04.11.2022 11:44
It’s been another fascinating week in financial markets and it’s not over yet, with the US jobs report still to come amid some interest rate uncertainty. The Fed meeting on Wednesday left investors scratching their heads a little. What was meant to be the pivot moment quickly became something very different; an admission that markets need to price in more. The central bank had given with one hand and taken with the other and investors were left to sulk once more. But perhaps the takeaway is more positive than the markets would have us believe. In scaling back its tightening (probably) in December, the central bank is buying itself time for the data to improve and justify a lower terminal rate. It’s possible that the fear at the Fed was that a slower pace – or “dovish pivot” would send the wrong message and markets would overreact, undermining its tightening efforts. By adding the terminal rate caveat, it’s kept markets on their toes and bought the Fed more time. Or maybe I’m simply reading too much into it but frankly, who isn’t at this point? The fact remains that the pace of tightening will be slower and the Fed will be able to continue making monetary policy restrictive but in a potentially less damaging way while enabling more visibility on the economy. This puts additional emphasis now on the data which could lower the terminal rate and further slow the pace of tightening. While all of the data will be closely monitored and factor into the Fed’s decision-making in December, the two releases at the top of the list are undoubtedly the inflation and jobs reports. And we’ll get two of each of those, the first of which being the October jobs report, later today. Needless to say, investors are a little on edge ahead of the release. Not only was Powell’s caveat unexpected and unwelcome by investors, the labour market remains extremely healthy which means today’s report is likely to be red hot once more. If that doesn’t turn out to be the case, investors may start to see the upside to the Fed’s statements on Wednesday. Optimism ahead of the jobs report Bitcoin is bouncing back ahead of the jobs report alongside other risk assets. Whether it will be able to hold onto those gains will obviously depend on the strength of the report itself, especially in light of the recent Fed comments. Clearly, there’s some sense of optimism out there and bitcoin could be eyeing up $21,000 once more where it ran into resistance in late October. Of course, a failure to hold onto these gains could see $20,000 come under pressure once more. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Top Creators In The NFT Market | Instagram And NFT | The Expansion Of GameStop

Crypto.com Accelerate the... Crypto.com Accelerate the... 04.11.2022 11:56
New Project Spotlight NFT Collectibles [LIVE] The “Visa Masters of Movement” auction on Crypto.com NFT features digital art inspired by iconic goals from five legendary footballers that have been minted as unique NFTs. Fans can create their own personalised collectibles on a digital pitch at the FIFA Fan Festival™ in Doha, Qatar. [COMING SOON] Crypto.com signs an MOU for NFT collaboration with A Story. With this agreement, the two companies will cooperate on promoting NFT projects based on productions by A Story. [COMING SOON] “Dimensions of Perception” features Igor Martins’s impressions on reality, dreams, visions, memories, and sensations. Martins seeks to create relationships between the physical and metaphysical world. The drop will go live on 10 November in Crypto.com NFT. Blockchain Games [LIVE] Cronos game Defira allows players to earn Fira while becoming a Defiraverse legend. The main character, Fiera, needs an army and is looking to recruit players’ heroes. [COMING SOON] The Frontier test for Cronos game Zoids Wild NFT Arena will begin on 10 November. Players who sign up for the Frontier Test are able to play for $20,000 in prizes. [COMING SOON] The Cronos Labs Accelerator Cohort 2 has opened its registration until 28 November 2022. The Accelerator will be supporting projects across the verticals of Web3 gaming, SocialFi, and NFTs with investments, mentorship, and workshops. NFT Metrics The following table shows select top creators (by weekly sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Floor Price (USD)Sample OpenSea Art Gobblers $15,300,000(31 Oct launch) $15,290 Crypto.com NFT Art Blocks $6,500,000(+49%) $163 OpenSea CryptoPunks $5,818,000(-12%) $101,450 Crypto.com NFT Bored Ape Yacht Club $2,500,000(-24%) $113,000 Minted VVS Miner Mole $94,000(-13%) $333 Minted Argonauts $65,000(-72%) $89 Platform OpenSea Collection Art Gobblers Sales Volume (USD) $15,300,000(31 Oct launch) Floor Price (USD) $15,290 Sample Platform Crypto.com NFT Collection Art Blocks Sales Volume (USD) $6,500,000(+49%) Floor Price (USD) $163 Sample Platform OpenSea Collection CryptoPunks Sales Volume (USD) $5,818,000(-12%) Floor Price (USD) $101,450 Sample Platform Crypto.com NFT Collection Bored Ape Yacht Club Sales Volume (USD) $2,500,000(-24%) Floor Price (USD) $113,000 Sample Platform Minted Collection VVS Miner Mole Sales Volume (USD) $94,000(-13%) Floor Price (USD) $333 Sample Platform Minted Collection Argonauts Sales Volume (USD) $65,000(-72%) Floor Price (USD) $89 Sample Blockchain Game Metrics The following table shows select top games by weekly Unique Active Wallets (UAW): GameBlockchain(s)UAWVolumeLogo Splinterlands Hive, Wax 291K(-3%) $5K Trickshot Blitz Flow 115K(-30%) $79K Farmers World WAX 95K(-5%) $17K Axie Infinity Ronin, ETH 62K(-2%) $14M Game Splinterlands Blockchain(s) Hive, Wax UAW 291K(-3%) Volume $5K Logo Game Trickshot Blitz Blockchain(s) Flow UAW 115K(-30%) Volume $79K Logo Game Farmers World Blockchain(s) WAX UAW 95K(-5%) Volume $17K Logo Game Axie Infinity Blockchain(s) Ronin, ETH UAW 62K(-2%) Volume $14M Logo Source: DappRadar Gaming Token Performance The total market cap for gaming tokens now stands at US$8.42 billion, up +17% from last week.  From 14-18 November in Bonifacio Global City, Metro Manila, the Philippine Web3 Festival will see founders, developers, and gamers convene in the NFT gaming space. The festival is organised by Yield Guild Games (YGG) and BlockchainSpace (BSPC). News Highlights The Minted launchpad is now live, enabling creators to mint NFT collections on both Ethereum and Cronos. Collectors can discover the latest and diverse array of NFT collections on both networks. Instagram users will soon be able to mint and sell NFTs. The latest update will enable creators to make their own digital collectibles and sell them both on and off Instagram, giving them a toolkit for creating, displaying, and selling NFTs. GameStop extends its NFT Store to ImmutableX, granting access to collectibles on an additional network. The expansion is expected to reach tens of millions of customers and will allow access to major Web3 games such as Gods Unchained, Guild of Guardians, and Illuvium. Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile.
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Bitcoin Has A Potential For Further Upside Movement

InstaForex Analysis InstaForex Analysis 07.11.2022 08:37
Technical analysis: BTC has been trading upside as I expected and the price has reached the first upside objective at the price of $21.000. Anyway, I see potential for further upside movement due to the strong upside momentum in the background. Trading recommendation: Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $22.500 and $24.000 MACD oscillator is showing upside momentum, which is strong sign that buyers are in control. Key support is set at the price of $20.000     Relevance up to 08:00 2022-11-08 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299860
The Bitcoin Price Movement Is In The Bullish Channel

In South Africa Cryptocurrencies Have Already Become Very Popular

InstaForex Analysis InstaForex Analysis 07.11.2022 09:41
Crypto Industry News: South African supermarket chain and the National Children's Advocacy Center are the newest organizations to accept cryptocurrency payments. One of the largest supermarket chains in South Africa - Pick n Pay - has allowed customers to pay with cryptocurrencies, including BTC. The offer includes 39 stores of the company located throughout the country. Pick n Pay mentioned the new payment option a few months ago when they tried it out in ten of their stores. The service is now fully active at nearly 40 locations. The company has established cooperation with Electrum and CryptoConvert. Customers can pay for grocery purchases with Bitcoin Lightning. The company explained that "a transaction is as easy and safe as swiping a debit or credit card." "Customers scan the QR code from the application and accept the currency converter on their smartphone at the time of the transaction. The service fee for each transaction is minimal, costs the customer an average of 70 cents, and the whole process takes less than 30 seconds" - added. The cryptocurrency payments market in South Africa is still in an early stage of development. Cryptocurrencies have already become very popular with the local population, however, and movements like this in the retail chain can fuel adoption. Another organization that has recognized cryptocurrencies as a settlement measure is the National Children's Advocacy Center. The Foundation teams up with Giving-Blocks to become the first Huntsville nonprofit to accept donation of digital assets. Technical Market Outlook: The BTC/USD pair made a new local high at the level of $21,471in form of a Pin Bad candlestick and sharply reversed back below the last technical support. The market is currently approaching the demand zone again (green rectangle on the H4 time frame chart), so any breakout below the demand zone low seen at $20,211 would have extend the sell-off towards the recent low seen at $20,016 or below. Please notice, there is untested level of technical support seen at $19,686. Weekly Pivot Points: WR3 - $21,429 WR2 - $21,125 WR1 - $20,930 Weekly Pivot - $20,825 WS1 - $20,629 WS2 - $20,524 WS3 - $20,222 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.     Relevance up to 09:00 2022-11-08 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299886
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Deribit And Loss Of $28 Million Due To A Hacker Attack | Instagram Will Use The Polygon Blockchain For NFT Minting

Crypto.com Accelerate the... Crypto.com Accelerate the... 07.11.2022 09:53
Weekly Market Index Last week’s crypto market prices were up slightly at +3.7%, while volume and volatility were down -3.7%, and -38.7%, respectively. Weekly Performance Bitcoin (BTC) is holding above the $20K price level and was up +1.1% last week, while Ethereum (ETH) was down -1.3%. Amongst other selected top-cap crypto tokens, Polygon (MATIC) surged +27.8% and Litecoin (LTC) rose +26.5%. Potentially behind MATIC’s rally might be Meta’s announcement that Instagram will allow creators to mint NFTs using the Polygon blockchain. Project Spotlight Ribbon Finance is a suite of DeFi protocols that helps users access crypto structured products. By combining derivatives, lending, and a proprietary on-chain options exchange (Aevo), Ribbon aims to be a one-stop solution for users who want to improve a portfolio’s risk-return profile. The native token of Ribbon Finance is RBN, which is available for trading on the Crypto.com App. RBN has a circulating supply of 572.01 million and a max supply of 1 billion. The token is used for governance voting. The majority of token distribution is to Community Treasury (49%), Team (23%), and Investors (15%). Earlier this year, Ribbon Finance raised US$8.8M from venture capital firm Paradigm. News Highlights Crypto.com announced that it has become Visa’s associate programme member in Singapore. This strategic partnership will enable the company to initiate self-issuance of the Crypto.com Visa card in-market. The U.S. Fed raised interest rates by 75 bps in its latest round, in line with market expectations. Some observers interpreted the Fed’s messaging as hinting at smaller rate hikes to come.  Hong Kong’s Securities and Futures Commission (SFC) will conduct a public consultation on how retail investors may be given a “suitable degree of access to virtual assets” to licensed exchanges. The SFC also stated the possibility of having exchange-traded funds (ETFs) on virtual assets. Meta (formerly Facebook) is expanding support for NFTs by allowing some creators to make and sell digital collectibles directly on Instagram. At launch, Instagram will use the Polygon blockchain for NFT minting. Deribit, a major crypto derivatives exchange, suffered a security breach, with the hackers taking nearly US$28M from the exchange’s hot wallet. Deribit noted that “the hack is isolated to their BTC, ETH, and USDC hot wallets.” Recent Research Reports Alpha Navigator (Oct 2022): Crypto continues to outperform other asset classes in October. Is the Fed pivoting on rates tightening policy? ETH’s short-term correlations with equities reducing. NFT Financialisation and Utility: An Overview: As NFT utility grows, so does the potential to make money from them. NFT financialisation could help to achieve greater liquidity and unlock the value of NFTs. NFT Utility: A Multifaceted Overview and Use Cases: For NFTs to increase value and to be deemed viable economic and financial assets, they have to go beyond collectability and aesthetics. One way to tackle this is through utility. Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.
In Crypto, You Could Prove You Own A Private Key Without Revealing It

How To Manage The Risk Of A Cryptocurrency Portfolio

Binance Academy Binance Academy 07.11.2022 10:05
TL;DR Risk management is an essential part of investing and trading responsibly. Risk management strategies can reduce your portfolio's overall risk in various ways. For example, you may diversify your investments, hedge against financial events, or implement simple stop-loss and take-profit orders. Introduction It's a well-known fact that investors and traders look to minimize risk. Even if your risk tolerance is high, you'll still, in some way, weigh the risk of your investments versus the payoff. However, there's more to risk management than just choosing less risky trades or investments. A comprehensive toolset of risk management strategies is available, many of which are suitable for beginners, too. Learn more on Binance.com What is risk management? Risk management entails predicting and identifying financial risks involved with your investments to minimize them. Investors then employ risk management strategies to help them manage their portfolio's risk. A critical first step is assessing your current exposure to risks and then building your strategies and plans around them. Risk management strategies Risk management strategies are plans and strategic actions traders and investors implement after identifying investment risks. These strategies reduce risk and can involve a wide range of financial activities. Some examples include taking out loss insurance and diversifying your portfolio across asset classes. In addition to active risk management practices, it is important to understand general risk management planning. There are four general planning strategies you can work with. Risk Management planning stratergies Acceptance: Deciding to take on the risk of investing in an asset but not spending money to avoid it as the potential loss isn't significant. Transference: Transferring the risk of an investment to a third party at a cost. Avoidance: Not investing in an asset with potential risk. Reduction: Reducing the financial consequences of a risky investment by diversifying across your portfolio. This could be within the same asset class or even across industries and assets. Why is a risk management strategy important in crypto? It's common knowledge that crypto, as an asset class, is one of the higher-risk investments available to the average investor. Prices have proven to be volatile, projects can crash overnight, and the technology behind blockchain can be challenging for newcomers to understand. With crypto moving rapidly, it's imperative to employ sound risk management practices and strategies to reduce your exposure to potential risks. This is also an essential step to becoming a successful and responsible trader. Strategy #1: Consider the 1% rule The 1% rule is a simple risk management strategy that entails not risking more than 1% of your total capital on an investment or trade. If you have $10,000 to invest and want to adhere to the 1% rule, there are a few ways to do so.  One would be to purchase $1,000 worth of bitcoin (BTC) and set a stop-loss or stop-limit order to sell at $9,900. Here, you would cut your losses at 1% of your total investment capital ($100). You could also purchase $100 of ether (ETH) without setting a stop-loss order, as you would only lose a maximum of 1% of your total capital if the price of ETH were to drop to 0. The 1% rule doesn't affect the size of your investments but the amount you are willing to risk on an investment. The 1% rule is especially important for crypto users due to the market's volatility. It can be easy to get greedy, and some investors may put too much into one investment and even suffer heavy losses expecting their luck to turn. Strategy #2: ​​Setting stop-loss and take-profit points A stop-loss order sets a pre-determined price for an asset at which the position will close. The stop price is set below the current price and, when triggered, helps protect against further losses. A take-profit order works the opposite way, setting a price at which you want to close your position and lock in a certain profit. Stop-loss and take-profit orders help you manage your risk in two ways. First, they can be set up in advance and will be executed automatically. There's no need to be available 24/7, and your pre-set orders will be triggered if prices are particularly volatile. This also allows you to set realistic limits for the losses and profits you can take.  It’s better to set these limits in advance rather than in the heat of the moment. While it can be strange to think of take-profit orders as part of risk management, you shouldn't forget that the longer you wait to take profit, the higher the risk the market could fall again while waiting for an  additional upside. Strategy #3: Diversify and hedge Diversifying your portfolio is one of the most popular and fundamental tools to reduce your overall investment risk. A diversified portfolio won't be too heavily invested in any asset or asset class, minimizing the risk of heavy losses from one particular asset or asset class. For instance, you may hold a variety of different coins and tokens, as well as provide liquidity and loans. Hedging is a slightly more advanced strategy to protect gains or minimize losses by purchasing another asset. Usually, these assets are inversely correlated. Diversification can be a type of hedge, but perhaps the most well-known example is futures. A futures contract lets you lock in a price for an asset at a future date. Imagine, for instance, you believe bitcoin's price will tumble, so you decide to hedge against this risk and open a futures contract to sell BTC for $20,000 in three months. If bitcoin’s price does indeed fall to $15,000 three months later, you will profit from your futures position.  It's worth remembering that futures contracts are settled financially, and you don't have to deliver the coins physically. In this case, the person on the other side of your contract would pay you $5,000 (the difference between the spot price and the futures price), and you would have hedged against the risk of bitcoin’s price falling. As mentioned, the crypto world is a volatile one. However, there are still opportunities to diversify within this asset class and use hedging opportunities. Diversification in crypto is much more crucial than in more traditional financial markets with less volatility. Strategy #4: Have an exit strategy ready Having an exit strategy is a simple but effective method for minimizing the risk of heavy losses. By sticking to the plan, you can take profits or cut losses at a pre-determined point. Often, it's easy to want to keep going when making gains or to put too much faith in a cryptocurrency even when prices are falling. Getting caught up in hype, maximalism, or a trading community can also cloud your decision-making. One way of successfully implementing an exit strategy is to use limit orders. You can set them to automatically trigger at your limit price, whether you want to take profit or set a maximum loss.  Strategy #5: Do Your Own Research (DYOR) DYOR is an integral risk-reduction strategy for any investor. In the Internet age, it's easier than ever to conduct your own research. Before investing in a token, coin, project, or other asset, you must do your due diligence. It's key that you check essential information about a project, such as its white paper, tokenomics, partnerships, roadmap, community, and other fundamentals. However, misinformation spreads quickly, and anyone can submit their opinions or online as facts. When conducting research, consider where you're getting your information and the context in which it's presented. Shilling is commonplace, and projects or investors can spread false, biased, or promotional news as if it were sincere and factual. Closing thoughts With the five risk management strategies outlined, you'll have an effective tool kit to help reduce your portfolio's risk. Even employing simple methods that cover most areas will help you invest more responsibly. At the other end of the scale, there's potential to create risk management plans with more advanced, in-depth strategies.  To dive deeper into the topic, refer to the following articles: How to Manage Risk and Trade Responsibly | Binance Support What Is the Risk/Reward Ratio and How to Use It | Binance Academy  3 Reasons Why Binance Futures Is The Preferred Hedging Venue For Traders    
The Bitcoin Fall Will Likely Continue In The Future

Bitcoin (BTC/USD) Will Still Have Chances To Rise

InstaForex Analysis InstaForex Analysis 07.11.2022 13:06
Bitcoin ended the previous trading week on a bullish note, but the current trading activity is not enough for a rapid upward movement. Over the weekend, trading volumes expectedly decreased, which provoked pressure from sellers. It is important to note that Saturday's bullish momentum allowed the cryptocurrency to hit $21.5k and end the trading day above $21k. This is a positive signal indicating growing bullish sentiment in the digital asset market. The test of the $21.5k level provoked the activation of sellers, who subsequently managed to bring the price of BTC below $21k. On November 7, buyers became active again and made another attempt to gain a foothold above $21k. Despite the unsuccessful attempt to storm $21k, we must admit that Bitcoin did not run out of bullish potential over the weekend. The asset has successfully traded the range of $20.4k–$20.7k and continues its upward movement to the area of $21k–$21.5k. The main question is whether the asset will succeed in a bullish run. Fundamental background Any analysis of the price of Bitcoin should start with fundamental factors that positively or negatively affect the movement of cryptocurrency. The main reason for the optimism of crypto investors was the increase in unemployment by 3.7%, which is a direct consequence of the aggressive policy of the Fed. At the same time, returning to the Fed, it is important to note that the regulator does not consider it necessary to ease monetary policy. Markets are pricing in a high probability of a 50 basis point rate hike in November. Against such expectations, Glassnode analysts say they do not record a significant increase in demand in the crypto market. An important catalyst for the growth of quotes of the crypto market and Bitcoin could be the collapse of the US dollar index. The asset reached the level of 113, followed by a fall to the local support level of 110. On November 7, DXY tried to win back the fall and reached the level of 111.8 but was stopped by the bears. As a result, DXY is trading below 110, and at the end of the previous trading day, the index formed a strong "bearish engulfing" pattern. Technical metrics on the daily timeframe unanimously point to the continuation of the downward trend. The DXY correction could be a catalyst for the rise of Bitcoin and other high-risk assets. On the daily SPX chart, an upward reversal is visible with a bullish crossover forming on the stochastic. The RSI index also resumed its upward movement, which indicates investors' bullish sentiment. Given the combination of factors, we expect to see another attempt by Bitcoin to break through $21k. BTC/USD analysis Bitcoin on-chain activity was expected to deflate over the weekend, but this is where we will see confirmation of the viability of the upward movement of BTC. Trading volumes and the number of unique addresses should show an increase in parallel with the upward price movement. On the daily timeframe, we see that Bitcoin is trying to gain a foothold above the upper limit of the local range of last week at $20.4k–$20.7k. Technical metrics indicate the continuation of the downward movement and, as a result, the breakdown of the $20.7k level. At the same time, a local support zone formed near $20.7k, which the bears failed to take on the first try. Moreover, even if it falls below $20.7k, Bitcoin will still have chances to rise as long as it stays above $20k–$20.4k. According to IntoTheBlock, in the $19k–$20.7k range, 2.13 million BTC were purchased by 4 million users. Most of these volumes were absorbed to the $20.4k level, and therefore, under current market conditions, a downward breakout of this zone looks unlikely. Bitcoin plans for the week will be clear after the opening of the US markets. If the asset holds the $20.7k level at the end of today's trading day, then in the next 1–2 days, we will see a retest of $21.5k. With a breakdown of $20.7k, BTC will need more time to consolidate for an upward push towards $21k. In any case, the dynamics of SPX and DXY, and bullish sentiment in the crypto market, indicate a continuation of the local BTC upward trend.   Relevance up to 10:00 2022-11-08 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/326396
There Are Many Ways To Join A Crypto Community

Active Cryptocurrency Wallets Increased In October

Alex Kuptsikevich Alex Kuptsikevich 07.11.2022 11:25
Bitcoin and Ethereum picture There is a little bit for everyone in this move. The bulls record new, higher local highs and higher lows. On the other hand, the bears see that the recovery in Bitcoin is by no means gaining strength, and the rate remains tightly below the 200-week average. Ethereum added 0.9% over the week to $1610. Other leading altcoins from the top 10 rose from 3.1% (Cardano) to 11.9% (BNB). Total cryptocurrency market capitalisation, according to CoinMarketCap, rose 2.8% for the week, to $1.05 trillion, but by Monday, had rolled back 1.9% to $1.03. The Cryptocurrency Fear and Greed Index rose 6 points for the week, to 40 and remains in "fear" mode. Cryptocurrency Market News  Decentralised application tracking platform DappRadar reported that the number of active cryptocurrency wallets increased by 7% in October compared to the previous month, which may indicate the end of the crypto winter. According to ForkLog, trading volume on leading cryptocurrency exchanges fell 25% in October to its lowest level since December 2020. Bitcoin miners' total revenue in October was up 7% compared to the previous month. The share of public miners in the BTC hashtag reached 25%. The European Parliament has postponed until February next year a final vote on the MiCA cryptocurrency regulation bill. The extensive and technically complex document must be translated into 24 official languages. Goldman Sachs is partnering with Coin Metrics and MSCI to introduce a tool called Datonomy that allows investors to track cryptocurrency market movements and quickly analyse the digital asset ecosystem.
Bitcoin Has Made A Dynamic And Aggressive Reversal

Technical Outlook Of Bitcoin (BTC/USD)

InstaForex Analysis InstaForex Analysis 08.11.2022 11:33
Technical analysis: BTC/USD has been trading downside and I found the breakout of the rising wedge pattern in the background, which is sign that sellers are in control. Trading recommendation: Due to the breakout of the rising wedge in the background, I see potential for further downside movement. Watch for potential selling opportunities on the intraday rallies with the downside objective at $18.700 and $18.260. MACD Oscillator is showing fresh downside reading, which is sign that downside momentum is increasing. Key resistance is set at the price of $21.500   Relevance up to 10:00 2022-11-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300069
The President Of El Salvador Continues To Promote Bitcoin

Meta Focuses Its Investments On Discovery Engine, Advertising And Business Communication Platforms

InstaForex Analysis InstaForex Analysis 08.11.2022 11:39
Crypto Industry News: At the end of September, Meta employed over 87,000 employees, many of whom work in the metaverse department. Now the company is reportedly planning "large-scale layoffs." All because of rising costs and the recent decline in stock prices. Internet media, citing people familiar with the case, claim that the planned layoffs may affect many employees. It is currently unknown whether the Reality Labs division, which recorded a loss of as much as $ 3.7 billion in the third quarter, will also see staff cuts. Last week, Meta CEO Mark Zuckerberg said the company will focus its investments on "a small number of high-priority areas" including the Discovery Engine, advertising and business communication platforms. "It means that some teams will develop significantly, but most others will remain the same or shrink next year (...)" - he announced. He added that he believes that the company is "on the right track" when it comes to investments and should "continue to work intensively in these areas". Technical Market Outlook: The BTC/USD pair made a new local high at the level of $21,471 and then the bears pushed the market below the demand zone again (pink rectangle on the H4 time frame chart). During this aggressive and dynamic sell-off BTC lost almost 10% and hit the local low at the level of $19,731. The level of $19,942 and $20,034 will now act as the intraday technical resistance for bulls. Weekly Pivot Points: WR3 - $21,429 WR2 - $21,125 WR1 - $20,930 Weekly Pivot - $20,825 WS1 - $20,629 WS2 - $20,524 WS3 - $20,222 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.       Relevance up to 11:00 2022-11-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300083
From UFOs to Financial Fires: A Week of Bizarre Events Shakes the World

The Fed Has Made Clear It Intends To Slow The Pace Of Tightening

Craig Erlam Craig Erlam 08.11.2022 12:45
A cautious start to trading on Tuesday, with investors seemingly having one eye on midterm results in the US and another on Thursday’s inflation data. It’s hard to see past both of these things this week. The question for many is whether investors will respond positively to the deadlock in Washington. On the one hand, the prospect of less spending could be viewed as aiding the inflation fight but on the other, the economy could be headed for recession, and inaction in government won’t help the situation. The Republicans are strongly favoured to take back control of the House and with the Senate currently split, they are likely to edge that as well, meaning Biden’s economic agenda will come to a standstill ahead of the 2024 election. Arguably the most important takeaway from the midterms will be how Trump-supporting Republicans fare, particularly those so fiercely sticking to the “stolen election” line, among others. With Trump himself due to make a “big announcement” soon, it would appear he’s about to throw his hat into the ring and declare any victories a show of support for his own nomination. With the US likely heading for recession, whoever wins the Republican race stands a good chance of winning the race in 2024. It may now become a question of how much of a grip Trump still has on the Republican party and whether the manner of his exit will prove to be a barrier or a supportive factor within the base. Of course, the more pressing issue in the near term is inflation and so, regardless of the midterm results, we may still see some trepidation in the markets ahead of Thursday’s release. The Fed has made clear it intends to slow the pace of tightening in December and this data could either throw that into question or start to build the case for a lower terminal rate than the central bank hinted at last week. Bitcoin plunges below $20,000 It’s been a rough couple of days for bitcoin which finds itself back below $20,000 and down more than 4% on the day. It has recovered a little after previously being off more than 6% but this is a far more severe decline than we’re seeing in other risk assets which may be a worrying sign for crypto bulls. The declines may be linked to the plunge in FTT which nosedived amid reported concerns over Alameda’s balance sheet. We’ve seen this kind of situation have ripple effects on prices before and this may explain the sharper declines we’re seeing this week. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Technical Outlook Of The Further Movement Of Bitcoin

The Collapse Of Bitcoin (BTC) Is An Unplanned Event

InstaForex Analysis InstaForex Analysis 08.11.2022 14:14
Over the past two weeks, an upward trend has been systematically building on Bitcoin and other cryptocurrencies. As a result, BTC and major assets gained a foothold above key resistance levels and were ready to move further up. Macroeconomic factors contributed to the building of an upward trend in cryptocurrencies. The US dollar index was correcting, and the stock market was at the peak of a bullish period. At the same time, Fed members expressed the first hints of a slowdown in the rate hike. Bitcoin successfully gained a foothold above $20k and continued its upward movement to the $20.7k–$21.1k area. The cryptocurrency successfully tested the upper limit of the resistance level, after which it rolled back for consolidation. Bullish signals on BTC were observed this week, which indicated the desire of investors to move to local highs. Falling BTC However, all these achievements were lost when Bitcoin made a downward breakout of the $20k level. In just a day, BTC lost more than 5% of its value, and the market capitalization fell below $1 trillion. The volume of liquidated positions amounted to $330 million. Following the fall, Bitcoin tested the support zone at $19.3k, followed by a response from buyers. Despite this, there were not enough absorbing volumes, and BTC remained trading below $20k. As of writing, the cryptocurrency is moving near $19.7k. The technical metrics of the cryptocurrency indicate the preservation of the downward dynamics and the complete dominance of sellers. The RSI index and the stochastic oscillator are approaching the oversold zone, and the MACD risks forming a bearish crossover. We are seeing an attempt by buyers to absorb the bearish volume and recover above $20k. The market lacks large buyers and a surge in on-chain activity. Presumably, the situation will change after the opening of US trading. SPX and DXY Analysis After the formation of an uncertain Doji candle, SPX went up and reached the $3,800 level. Technical metrics indicate the continuation of bullish dynamics: the RSI indicates growing consumer sentiment, and stochastic formed a bullish intersection. Given the upward mood of the funds, we can expect an increase in buying sentiment in the crypto market. At the same time, the US dollar index demonstrated positive dynamics, which started the trading day with a buying breakthrough. DXY is trading near 110 but continues to experience increased selling pressure. Despite this, technical metrics point to a likely bullish price reversal. There is no pronounced trend on the main Bitcoin trigger assets, which means that any scenario is likely. At the same time, SPX has great potential for an upward movement, while DXY is under pressure from sellers. Reasons for the fall Among the probable reasons for the fall of Bitcoin is the battle of the mastodons of the crypto market. Binance and FTX exchanges are in a difficult relationship due to the statement of the CEO of Binance about the sale of FTX tokens. In the end, this may lead to the insolvency of the latter. Many experts and influencers see today's fall in Bitcoin as a reaction to the conflict. Most likely, the friction of the major market players had an impact on BTC, but the trigger was an unsuccessful retest of the $21k level and further activation of sellers. It is also important to note that despite the upward movement to $21k, Bitcoin on-chain activity has remained relatively high. Given this, it can be assumed that the BTC price movement was intended to harvest liquidity, which eventually succeeded. Results The collapse of Bitcoin below $20k is an unplanned event that occurred due to a combination of factors and the activation of sellers. With that in mind, it's important to see a buyer's response, which would be incomplete without US investors. If BTC manages to win back the $20k level at the end of the trading day, then the probability of further consolidation and a retest of $21k increases significantly. Otherwise, the cryptocurrency will resume fluctuations in the $19.3k–$19.8k range and increase the chances of a local bottom retest.     Relevance up to 11:00 2022-11-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/326521
On Monday cryptocurrency market fear and greed index amounted to 33

On Monday cryptocurrency market fear and greed index amounted to 33

Kucoin Blog Kucoin Blog 08.11.2022 22:21
Table of Contents Crypto Market Overview Top Altcoin Gainers and Losers Crypto Fear & Greed Index This Week’s News Highlights Notable Events to Watch This Week Bitcoin (BTC/USDT) Technical Analysis Crypto Market Overview Bitcoin (BTC) and Ether (ETH) remained flat despite Fed Chairman Powell’s speech. Meta caused Arweave (AR) to spike by over 30% after announcing a major partnership. Google cloud hints at Solana validations. Lebanese run to cryptocurrency as the economy worsens. This week was a volatile one due to the several Fed activities that were held. The first was the monthly FOMC meeting held on November 1 and 2. All markets stood aloof during this period to listen to the Fed’s view concerning the current quantitative tightening.   While there was a lot of optimism heading into the meeting (and even as the Fed chairman said, “there is the fear they would overdo the tightening”), it was quickly dashed as Jerome Powell called the claims for a Fed Pivot “very premature.” The expected rate hike was 75bps, and the Fed delivered, but even the good jobs report that came out a few days later could not reverse Powell’s speech.   However, despite the news, Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization, were unfazed. Bitcoin dropped by only 1% but recovered quickly.   In other news, Web 3 coins soared this last week after Meta platforms announced a partnership with Arweave to archive creators' digital collectibles. Arweave rose by 60% on the announcement, while others like Filecoin and Storj rose by more than 14% and 10%, respectively.     Cryptocurrency Market Heatmap | Source: Coin360   Google Cloud also caused a short spike in the price of Solana after it tagged Solana’s founder on Twitter with the words, “Should we tell our followers the big news?” Solana rose by over 15% on the announcement but went flat after google announced in a subsequent tweet that Google Cloud is running a block-producing @solana validator to participate in and validate the network.   Top Altcoin Gainers and Losers Top Altcoin Gainers Arweave (AR) âž  +39.53% Polygon (Matic) âž  +31.26% Chiliz (CHZ) âž  +27.87%   Top Altcoin Losers Klaytn (KLAY) âž  -18.34% FTX Token (FTX) âž  -12.17% Aptos (APT) âž  -10.38%   Fear & Greed Index at 33, Market Sentiment Bearish The Crypto Fear and Greed Index is still in the fear zone (33), as the Fed meeting showed no sign of a rate hike pause. This is still a positive sign from last month’s extreme fear value of 24. A major thing that can affect the Fear and Greed index this week is the US midterms.     Fear & Greed Index | Source: Alternative   This Week’s Crypto News Highlights The Talks on CBDCs Intensify Chatters from all over the world on CDBC have intensified in recent weeks. The first discussion came from the Reserve Bank of India (RBI), which announced the launching of the digital rupee starting on the first day of November. The pilot project will include the State Bank of India, and several other banks, including the State Bank of India, HDFC bank, Yes Bank, and Union Bank of India, amongst others. The goal of the CBDC launch is to foster transaction efficiency and reduce transaction costs.   Canada is another country that announced it is actively watching CDBC as the next step in its financial system. The North American country released its 2022 Fall Economic Statement that included the nation’s plan for digital currencies. The important part of the paper showed that the Canadian government believes CBDCs are transforming the financial systems, and Canada will need to ‘Keep Pace’ with the growing digital monetization trend.   This week, the third mention of CBDCs came from the Bank for International Settlements, which announced that it is partnering with three central banks – France, Singapore, and Switzerland – to research blockchain technology and CBDCs. The project tagged Project Mariana has been set to a tentative date of mid-2023 for delivering a proof-of-concept.   Mastercard Adds 7 Blockchain Startups to its Crypto Accelerator Continued support for cryptocurrencies has intensified with Mastercard’s crypto accelerator accepting 7 new blockchain startups into its program.   The selection announced on November 3, saw firms like Web3-focused social payments system provider Loot Bolt and the brand-oriented platform Uptop, amongst others, selected for the six-month accelerator.   MasterCard announced that the companies were selected due to their potential in bridging Web 2 and Web 3.   This is the eighth year the Mastercard accelerator will run, and during that period, it has supported over 300 startups, with a few going on to achieve unicorn status.   Lebanon Locals are Turning to Bitcoin, Tether Amidst an Economic Crisis A new analysis from Chainalysis sheds some light on the economic problems in Lebanon. The data, which showed that Lebanon has the second inflow of cryptocurrency in the MENA region, explains how Lebanese residents are leveraging cryptocurrencies to mitigate the bad economic condition of the country.   The country has grown to be a hotbed of crypto mining activities/ Bitcoin as a store of wealth after falling into a financial crisis in 2019. A mix of poor spending decisions and the aftermath of the coronavirus sealed the country's fate, and the nation was listed by World Bank in 2021 as one of the countries to be most severely affected in this century, except there is a major restructuring to its financial system. The two primary ways citizens are leveraging the crypto market include   Mining - The southern part of Lebanon has seen an unusual influx of residents, primarily owing to its cheap electricity. Some residents are purchasing Chinese mining rigs at a discount to start mining. A mix of these two has enabled miners to make a decent profit. Despite this, the government insists crypto mining is the cause of the long-existing electricity problem in the country and pays close attention to mining - both legally and illegally.   Payments with cryptocurrency - Several reports point to the nation's citizens using Bitcoin and stablecoins as a means of exchange, with the payment method gaining the most prominent amongst tourist centers. Many of them are even storing their funds as Bitcoin, instead of Banks, due to the collapse in the banking system and the heightened risk of theft. All these happen even as the nation’s laws prohibit cryptocurrency payments.   Nigeria’s E-Naira Failure was Not what Elites Hoped For Looking back at 1st anniversary of the eNaira, Africa’s first CBDC, the public reception has been underwhelming. Created and launched on high hopes of increasing remittances, fostering cross-border trade, and improving financial inclusion, the eNaira has since received low uptake.   More than a year on, multiple reports confirmed the project was a white elephant project.   According to the nation’s central bank, roughly $50,000 transactions are conducted through the CBDC daily, with 700,000 transactions done in one year. Considering Bitcoin’s daily transaction count of 257,000, it will take Bitcoin three days to match the eNaira’s yearly transaction.   Another noteworthy statistic about the CBDC shows that less than 0.5% (roughly 1 million) of the nation’s population have downloaded the eNaira App. This sharp rejection is a testament to the perception of poor leadership in the west-African country.   Binance Moves to Liquidate FTX Token Holdings Binance CEO Changpeng Zhao stated that he will sell the remaining FTT token holding. He added that this move is a part of his exit plan from FTX.   While the famous CZ did not state how much FTT will be sold, it’s known that Binance received roughly $2.1 billion worth of BUSD and FTT as part of its FTX exit last year.   The CEO of Alameda Research, the parent company to FTX, tweeted at Zhao and proposed a buyout at $22 per token as a way not to greatly impact the markets.   When it comes to money movements, a $583 million transfer (in FTT) has moved to a Binance exchange wallet over the weekend.   Numerous sources state that FTX’s books are not as good as they seem, and that they might hold too many illiquid assets that might trigger a domino effect if one thing goes wrong.   Crypto Calendar: Events to Watch This Week ➺ 7/11/2022 - Finpl NFT Sales Begin ➺7/11/2022 - Splinterlands Town Hall meeting ➺ 8/11/2022 - ErgoPad - Cryptoverse IDO Snapshot. ➺ 11/11/2022 - RHEGIC2 Reward Swap   Bitcoin (BTC/USDT) Technical Analysis Bitcoin continued its upward move this week, reaching a $21,400 price – a seven-week high – but the most intriguing is that it held its $20,000 support well, even after a mixed Fed signal. The asset was also less volatile than the US Stock exchange this week, as the Fed decision had more effect on the Nasdaq and S&P 500 than Bitcoin.     BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   The moving average convergence-divergence (MACD) caused a stir this week as the weekly convergence turned green. Although it is not a standalone indicator, it is often one of the first signs of a bear market bottom. As seen in 2021, when the weekly MACD and 30-day MACD end green above the histogram, there is a high chance for a bull run.   The prices to watch are the $20,400 support and the $21,467 resistance. Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.     Sign up on KuCoin, and start trading today!   Follow us on Twitter >>> https://twitter.com/kucoincom   Join us on Telegram >>> https://t.me/Kucoin_Exchange   Download KuCoin App >>> https://www.kucoin.com/download   Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: Weekly Crypto Analysis: BTC Remains Undeterred as Fed’s Powell Shakes Markets; FTX & Binance in Highlights| KuCoin
It's not clear we find out the results of mid-term elections immediately. Binance to buy FTX

It's not clear we find out the results of mid-term elections immediately. Binance to buy FTX

Ed Moya Ed Moya 08.11.2022 22:49
US stocks rallied as Americans head to the polls in what is expected to be an election that gives Republicans control of the House. ​ It might take longer than election night to get a final conclusion on the Senate. ​ The Senate is up for grabs as there are five races (Georgia, Pennsylvania, Wisconsin, Nevada, and Arizona) that polls suggest are a toss-up. There is a chance that we won’t find out the Senate result for weeks if the Georgia seat requires a runoff election. ​ ​ ​ 43 million Americans voted early and today’s turnout is expected to be strong as a plethora of issues are motivating Americans to cast their ballot. We might not get all the results tonight but it seems Republicans have a very good shot at gaining control of the House and that could be confirmed early tomorrow morning. At the Save America rally in Vandalia, Ohio, former President Trump announced he will be making a “big announcement” on November 15th. â€‹ It is widely expected that he will launch his 2024 presidential campaign. â€‹ A number of prominent Republicans do not support another Trump ticket, with many preferring Florida Governor Ron DeSantis. ​ It is a long time before Republicans have their candidate but regardless if it is Trump or Desantis, it seems they have a good chance in 2024. ​ ​ FX The dollar got crushed today as a short-covering move accelerated as investors embraced risk appetite ahead of the midterm elections and Thursday’s pivotal inflation report. â€‹ ​ The dollar fell to a six-week low as Treasury yields declined. â€‹ Cryptos take a tumble Cryptos are tumbling after a liquidity crunch for FTX led to their sale to a top competitor. ​ Today is a bad day in crypto. ​ Binance had to step in to save Sam Bankman-Fried’s FTX crypto exchange. ​ SBF has been the white night during this crypto winter and a liquidity crunch for him has triggered a wave of uneasiness across the cryptoverse. ​ Binance will buy FTX.com, which is the non-US unit that generates the lion’s share of revenue. ​ Financial terms were not disclosed. ​ This is a major setback for many investors in cryptos who viewed SBF as a white knight and one of the leaders in the space that was supposed to thrive once we got beyond this crypto winter. ​ Many crypto companies will likely be vulnerable to further selling pressure here given the current macro backdrop but that probably won’t deter a lot of the institutional money that is still coming in or is locked into the space. ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Election Day, stocks rally, dollar short-covering, cryptos down on Binance rescue of FTX - MarketPulseMarketPulse
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Bitcoin Has Potential For Further Downside Movement

InstaForex Analysis InstaForex Analysis 09.11.2022 08:33
Technical analysis: BTC/USD has been trading downside as I expected and the price has reached the main downside objective at the $18.260. The market reaction from the main support and started to consolidate. Trading recommendation: Due to the big down day yesterday and consolidation this morning, I see potential for consolidation day to develop with potential for further downside movement. In case of the downside breakout of the $17.500, watch for downside opportunities with the next downside objective at $13.590. MACD oscillator is showing fresh new downside momentum, which is sign that sellers are in control. Key resistance is set at $20.650   Relevance up to 08:00 2022-11-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300236
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Over 50 thousand Zlotys Were Received By The Fraudster

InstaForex Analysis InstaForex Analysis 09.11.2022 09:36
Crypto Industry News: Yesterday (07/11), the US Department of Justice announced the acquisition of $ 3.36 billion in cryptocurrencies. US law enforcement agencies on November 9, 2021 searched James Zhong's home. The authorities then confiscated over 50,000 BTC which were worth around $ 3.36 billion at the time of the acquisition. In addition, over 600,000 were found. $ in cash and precious metals. In addition, in 2022, another several hundred Zhong bitcoins were found. In 2017, as a result of the BTC fork, over 50 thousand zlotys were received by the fraudster. Bitcoin Cash, which the criminal exchanged for around 3.5 thousand. BTC. Most likely, the cryptocurrencies received from other forks were also exchanged by Zhong for BTC, but the authorities only mention BCH. These funds were stolen by James Zhong in 2012 from the Silk Road portal. It was a trading platform operating in the Tor (darknet) network, where most of the offers concerned drugs and various psychoactive substances. The portal was launched in February 2011, and in October 2013 it was destroyed by US law enforcement agencies. Technical Market Outlook: The BTC/USD pair lost 19% from the top made at the level of $21,471. The price hit the level of $17,449 which is located below the technical support and the yearly low seen at $17,600. So far the bounce from this level was shallow and the market is trying to consolidate around the level of $18,486. The market conditions on the H4 time frame chart are extremely oversold, however, no significant bounce has been made yet. The nearest technical resistance zone is seen at $18,486, $18,563 and $18,658. Weekly Pivot Points: WR3 - $21,429 WR2 - $21,125 WR1 - $20,930 Weekly Pivot - $20,825 WS1 - $20,629 WS2 - $20,524 WS3 - $20,222 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.       Relevance up to 09:00 2022-11-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300256
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Ex-head of MicroStrategy talks Bitcoin and Lebanon, where inflation soars

Alex Kuptsikevich Alex Kuptsikevich 08.11.2022 14:55
In this article Alex Kuptsikevich talks: Prices of digital assets Crypto funds investements Santander More The crypto market has lost over 5% in the last 24 hours, pushing capitalisation back below $1 trillion. The steep fall in FTT affected Bitcoin and Ether and has pulled a significant market spectrum. Bitcoin is now trading at $19.8K, with the most substantial losses coming in the Asian session, filled with algorithmic traders, pushing the price back to $19.4K at one point.     It is noteworthy that a sell-off did not follow the sell-off in the first and second cryptocurrencies in the markets. Once again, we are forced to guess whether crypto reflects the internal risk attitude of the financial markets or whether we have seen a short-term technical sell-off. In the former case, market sentiment will worsen during the day. In the second, BTCUSD will redeem during the day and further confirm the market's reversal to growth.   According to CoinShares, investments in crypto funds declined last week after a slight increase the previous week. Outflows amounted to $16m compared to inflows of $6m a week earlier. Bitcoin investments fell by $13 million, and Ethereum rose by $3 million. Investments in funds that allow shorts on bitcoin fell by $7 million. Investors have shown a lack of enthusiasm over the past eight weeks, CoinShares noted.   Santander may block transactions on cryptocurrency exchanges   Former MicroStrategy head Michael Saylor called bitcoin a "hope" for Lebanon, whose national currency has fallen 96% against the dollar, and inflation has reached triple digits. The Middle Eastern country has been in a deep financial crisis since 2019.   Twitter's new owner, Elon Musk, plans to postpone temporarily or entirely shut down the development of some of the projects announced by the previous administration, including, reportedly, work on a cryptocurrency wallet. The news has hurt Dogecoin, which has been growing in hopes of becoming the social network's digital currency. According to Reuters, UK bank Santander will block transactions on cryptocurrency exchanges in 2023 to protect consumers from fraud. Mining companies are being forced to sell off cryptocurrency mining equipment at a massive discount to cover losses from a falling market, The Wall Street Journal reported.
The Bitcoin Price Movement Is In The Bullish Channel

The leading cryptocurrency reached a record-breaking price. Binance with a huge acquisition!

Alex Kuptsikevich Alex Kuptsikevich 09.11.2022 13:47
The cryptocurrency market lost another 7.7% to $900B over the past 24 hours, returning capitalisation to the area of September-October lows; at the peak of the decline, it was approaching the current market cycle lows set in June. Leading altcoins in the top 10 fell from 5.5% (BNB) to 22.9% (Dogecoin).   Dozen of hours ago, Bitcoin price touched $17.1K breaking some records At its worst moment of market capitulation on Tuesday night, Bitcoin was down to $17.1K, renewing 2-year lows. Many potential long-term investors in cryptocurrencies are now trying to assess whether we saw a final surrender yesterday, followed by a reversal. So far, we have doubts that the most worrisome part is behind us.   BTC's sharp decline earlier in the day came amid an abrupt collapse in one of the largest crypto exchanges FTX's own FTT token, which now trades at $4.6, having lost over 80% from $25.6 on Saturday. And all this on high trading volumes.   Another victim of the latest crypto chaos was Solana coin, which had lost 55% since Saturday before the crypto market went wild.   Did you know that FTX is (yet) no.3 largest cryptocurrency exchange?   On Tuesday evening, it was reported that Binance had agreed to acquire cryptocurrency exchange FTX amid investor panic and a liquidity crisis at what was once the third-largest cryptocurrency exchange. The news failed to stem capital outflows, and the cryptocurrency sell-off continued, albeit calmer. Despite some resolution, the news did not trigger a market recovery. Some experts say what has happened threatens the crypto market with significant disruption. Other observers point out that the collapse of the crypto market occurred on the day of the US congressional elections, which could have triggered selling in an environment of uncertainty, which is always bad for risky assets such as cryptocurrencies.
Sber And First Issue Of Gold-Backed Digital Financial Assets

Bitcoin: There Is An Important Signal For The Gradual End Of The Bear Market

InstaForex Analysis InstaForex Analysis 09.11.2022 14:09
Over the past month, theses have repeatedly appeared in the crypto space that Bitcoin has become less volatile than stock indices. However, the events of November 7–8 showed that the stability of an asset or market lies not only in a permanent stabilization movement, but also in the corresponding behavior of players during resonant events. Following the results of November 8, Bitcoin updated the local bottom, making a bearish breakout of the $17.6k level. At the moment, the asset price reached $17.1k, and even a sharp activation of buyers did not help Bitcoin recover at least above $19k. Over the past day, BTC/USD quotes have fallen by 8%; the weekly drop has reached 11%. A similar situation is observed on other cryptocurrencies, and the total capitalization has fallen to the $890 billion level. Given the long consolidation period, some assets managed to build up "muscles," which did not allow the market cap to fall to the previous minimum. Reasons for the fall of BTC/USD Friction between FTX and Binance served as an important trigger for the sharp drop in Bitcoin quotes and the update of the local bottom. The conflict situation, which can be confidently called a takeover attack, was resolved a few hours before the collapse of the crypto market. The situation can be compared to the collapse of Terra, given the venerability and assets of both players. Despite Binance's direct involvement in the conflict, we don't see a massive sell-off of billions of dollars of assets thanks to a deal to buy FTX. The decline of BTC to $17k accelerated due to significant negative factors in the crypto market. However, don't forget that huge amounts of liquidity were accumulated below the level of the previous local bottom. In the near future, we expect a long consolidation and trading of the $17k–$19.2k range. Results The fundamental nature of what happened highlights the complete break in the correlation between Bitcoin and stock indices. The S&P 500 continued its upward movement amid the collapse of the crypto market. At the same time, the US dollar index continued its correction and again tested the support level of 110. For the cryptocurrency market, the situation has worsened as the period of temporary thaw has ended. The collapse of one of the largest crypto exchanges plunged the market into fear, which means a massive outflow of liquidity and a new wave of bankruptcies. The main contenders for elimination from the race will be public mining companies. In addition to the difficult liquidity situation, the difficulty of mining BTC continues to increase, and according to the ratio of mining difficulty to price, the cryptocurrency is significantly undervalued. It is also important to note that the upcoming ban on mining in Europe due to the electricity crisis will have a painful impact on the position of the miners. Given this, it is the mining industry that will suffer mainly. BTC/USD Analysis After the events of recent days, there is no doubt that Bitcoin made a false breakout of the $20.4k–$20.8k resistance zone. The asset had enough strength to hold the $20k level over the weekend. However, we did not see an increase in on-chain indicators, which was the reason for the gradual decline in the price of the asset. A period of stabilization and consolidation will begin in the coming weeks. The $19.2k level looks like the top of Bitcoin's bullish efforts, and therefore the area below $19k will be most actively traded. It makes no sense to consider technical metrics and on-chain indicators since the market is in shock. Results The formation of the second local bottom of Bitcoin occurred due to a negative event comparable in scale to the collapse of Terra. At the same time, we did not see a decent response from buyers, which indicates that the market is in total fear, which is aggravated by the liquidity crisis. In the coming weeks, we should expect a lull in the crypto market, an outflow of capital and probably, aggravation of liquidity problems for a number of public companies. The update of the local bottom is an important signal for the gradual end of the bear market, but there is every reason to believe that the current fall will not be the last.   Relevance up to 10:00 2022-11-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/326640
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

"Liquidity crisis" of FTX definitely doesn't play in favour of the digital assets market

Kenny Fisher Kenny Fisher 09.11.2022 23:30
US stocks declined as the midterm election results are still not clear, but still seems to favor a divided government outcome. ​ Wall Street is having an election hangover that most likely saw an end to Biden’s blue wave. ​ Traders can now go back focusing on everything with inflation. ​ Votes are still being counted and the Georgia Senate race will go to a runoff next month. ​ Republicans look like they will get the job done with taking control of the House, but their majority lead will be a small one. What is complicating today’s mood on Wall Street is that the liquidity crisis for FTX is spilling over into other cryptos. ​ FTX was viewed as one of the so-called safe crypto players and their demise is raising concerns that other key crypto companies could be vulnerable here. The Solana token has been in freefall as SBF’s trading firm, Alameda Research, was an early supporter of the Solana project. China Producer prices in China have fallen into negative territory for the first time in almost two years as both China’s domestic demand is weak and their key trading partners are entering recession territory. China is also continuing to struggle with COVID as Guangzhou has to return to mass testing. ​ Five of the 11 districts will have mass testing and that is leading to concerns that a relaxation in covid protocols might be distant. Oil Crude prices tumbled on concerns that China is losing this battle with COVID and after the EIA report showed stockpiles rose to the highest levels since July 2021. ​ The weekly oil inventory data showed gasoline demand bounced back and that should still support a moderating demand outlook. ​ Production jumped higher and above the 12 million bpd level, but no one is thinking this will continue. ​ Supplies are still mostly tight and that should help limit the selling pressure that is hitting crude prices. Oil’s weakness could have been much more significant if Republicans had a stronger performance last night. ​ A strong red wave by Republicans would have meant greater pressure to ramp up production and help make the US energy independent. Gold Gold prices are softening ahead of Thursday’s US inflation report. Bullion traders have seen this movie before; a rally before a key inflation report just to see strong selling pressure return after inflation shows it’s not ready to moderate that much. ​ Gold could consolidate around the $1700 level but if the strong dollar trade gains traction leading up to CPI day, selling pressure could target the $1685 region. Cryptos Sam Bankman-Fried was supposed to be bulletproof. SBF was crypto’s ‘White Knight’ and the implosion of FTX means no one is safe. The stabilization period for crypto is over and now we wait to see if other contagion risks emerge. Binance was expected to save the day and buy FTX.com, but the deal appears to have hit a roadblock. CoinDesk reported that Binance was unhappy in the due diligence stage after reviewing FTX’s internal data and loan commitments. Cryptos are under intense pressure as contagion risks remain elevated from the FTX liquidity crisis. No one wants to touch anything that has ties with FTX and that is troubling news. No one is talking about buying this crypto dip until we see FTX secure funding and exhaustion happens with the selling of other tokens with ties to it. ​ Bitcoin plunged below the $16,000 level as the crypto rout worsens. This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. US Close: Election Hangover, China inflation and lockdown hopes, Oil drops, Gold rally stalls, Crypto Turmoil - MarketPulseMarketPulse
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

The FTT Token Has Lost 75% In Less Than 24 Hours

InstaForex Analysis InstaForex Analysis 10.11.2022 08:00
Bitcoin has stayed above its July lows for a long time, sparking speculation that the main cryptocurrency has finally bottomed out. However, recent market events have proven that the bearish cycle is not over yet. One thing that bitcoin and the cryptocurrency market has proven over and over again is that it is impossible to predict what will happen. A week ago, no one would have believed that the second largest crypto exchange in terms of trading volume would collapse and think about going for a takeover. June lows are questionable When the news broke that Binance would acquire FTX to avoid bankruptcy, the market recovered as some semblance of normalcy was recorded. But investors quickly realized the seriousness of the situation, and the price of bitcoin fell again. Shorts in the market have already accumulated after Binance plans to sell FTT tokens. This culminated in a market crash. As investors grew more fearful, funds were withdrawn from exchanges, halting the accumulation that the market was seeing. Bitcoin reacted negatively to this and pulled the rest of the market with it. A new cycle low has now been set, showing that there could indeed be further declines for the digital asset. By the close of the trading day on Tuesday, bitcoin hit a new cycle low at $17,200, breaking the July low. This showed that the digital asset did not really hit bottom. Furthermore, it indicates a possible commitment to the established trend of BTC dropping 80% from it's all-time high before bottoming out. Where will the new bottom be? Analysts note that if the BTC price adheres to this trend, the bottom will be about $13,000 per bitcoin, which is 82% below its historical high of $69,000. This would be more in line with the lows of the previous cycle and would clearly mean a resumption of the bull market. Technically, now, if the price settles below the July lows, the nearest target for quotes will be at the level of $16,000. But this is not the expected bottom of the market, but only the next technical target for the fall. Bitcoin still couldn't find a balance point after touching $17,000 on Tuesday. It remains reasonable that this mark would continue to be tested as long as the Binance-FTX deal is under discussion. Wave of liquidations and collapse of capitalization The liquidation of cryptocurrencies on the market has increased over the past 24 hours. The collapse of the last two days has led to the loss of hundreds of millions of dollars from traders. These liquidations cover the entire crypto market. Within 24 hours, more than $830 million worth of liquidations were registered on the cryptocurrency market. This is the second largest liquidation event recorded so far in 2022, only slightly inferior to the October liquidation figures. Given that the prices of digital assets are declining, more than 70% of liquidation transactions are in long positions. More than 33% of these volumes were registered on the Binance crypto exchange, followed by FTX with losses of 21.77%. In total, the positions of 392,043 traders were liquidated over a one-day period, while the largest liquidation order was placed on the Binance exchange for the BTCUSDT pair and amounted to $6.70 million. 5.75 million FTT tokens worth $26.6 million were liquidated in 24 hours. This makes it the token with the fourth largest liquidation volume, right after Solana, which was also affected by FTX. Despite the fact that almost $1 billion has already been liquidated, it seems that the bloodbath is not over yet. Any sudden movements like those that occurred on Tuesday could easily bring the liquidation figures up to $1 billion. Why is the FTX drama bad for cryptocurrency? Although the Binance/FTX drama is still very far from over, it has already revealed the main bottlenecks that threaten the cryptocurrency segment in the fourth quarter of 2022. Centralization is the first and most dangerous obstacle to crypto progress. The funds of tens of millions of people were at risk due to a business conflict between two crypto magnats. FTT withdrawal restrictions have even increased the instability of the vulnerable market, proving the old mantra "not your keys, not your coins". Then, as soon as the transaction is completed, the largest cryptocurrency exchange will acquire the fourth CEX in terms of trading volume — and, undoubtedly, Binance will again control the lion's share of crypto trading in the world. The EU and US antitrust authorities have already announced that they will closely monitor the acquisition, but this segment has never been so close to becoming a monopolist. FTX's insolvency has also affected its investors, that is, almost all top-league venture capitalists focused on cryptocurrency. In five rounds, the platform has raised more than $3 billion at an estimated $8 billion. Retail FTT holders are in an even more vulnerable position: the token has lost 75% in less than 24 hours and is changing hands 95% lower compared to the historical high recorded just a year ago. This is even worse than that of NFT and small metaverse investments. The collateral damage is that the entire segment is under attack, and the worst is yet to come. However, retail holders of major cryptocurrencies and stablecoins will suffer the most.     Relevance up to 15:00 2022-11-12 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/326681
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Technical Analysis Of Bitcoin's Outlook By Petar Jacimovic

InstaForex Analysis InstaForex Analysis 10.11.2022 09:06
Technical analysis: BTC has been trading downside as I expected and the price has reached downside objective at $17.000 but there is potential for further drop. Trading recommendation: Due to the strong downside momentum and breakout of the key support, I see potential for further drop. Watch for selling opportunities on the rallies with the downside objective at the price of $14.000. MACD oscillator is showing strong downside momentum, which is sign that sellers are in control. Key resistance is set at the price of $17.225 Relevance up to 08:00 2022-11-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300433
The Bitcoin Fall Will Likely Continue In The Future

Zhao: FTX Turned To Binance For Help | Bitcoin's Price Is Located Below The Technical Support

InstaForex Analysis InstaForex Analysis 10.11.2022 10:13
Crypto Industry News: After Binance CEO Changpeng Zhao announced that the company would liquidate its position in FTX Tokens, FTX CEO Sam Bankman-Fried (hereinafter SBF) became active on social media, apparently trying to suppress rumors of a conflict between major exchanges. According to Bankman-Fried's Twitter posts today, FTX "came to an agreement on a strategic deal" with Binance after trying to clear the backlog of payouts. SBF said it asked Binance to step in with the aim of "eliminating liquidity crises" and covering assets on a 1: 1 basis. Zhao issued his own statement on Twitter, saying FTX turned to Binance for help on November 8 in response to the "major liquidity crisis". According to the Binance CEO, the transaction SBF mentioned was a non-binding letter of intent to acquire FTX. Technical Market Outlook: The BTC/USD pair lost over 27% from the top made at the level of $21,471. The price hit the level of $15,555 which is located below the technical support and the yearly low seen at $17,600, so the bears made a new yearly low during the sell-off. So far the bounce from this level was shallow and the market is trying to test the level of $17,600 again. The market conditions on the H4 time frame chart are extremely oversold, however, no significant bounce has been made yet. The nearest technical resistance zone is seen at $17,600 $18,150 and $18,220. Weekly Pivot Points: WR3 - $21,429 WR2 - $21,125 WR1 - $20,930 Weekly Pivot - $20,825 WS1 - $20,629 WS2 - $20,524 WS3 - $20,222 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-11-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300441
Age Is The Dominant Factor In Cryptocurrency Investing

Among digital assets, Solana was one of the top losers, falling by almost 50% as FTX CEO's Alameda Research held loads of tokens

Alex Kuptsikevich Alex Kuptsikevich 10.11.2022 10:39
Major digital assets Bitcoin rewrote two-year lows on Thursday morning near $15,550, losing more than 27% from Saturday's local highs. CoinMarketCap estimates the total capitalisation of the crypto market to be at 839bn, down 6.7% from levels 24 hours ago and 21% below Saturday's peaks. Ethereum is now a third cheaper than levels at the end of last week, and its sell-off started noticeably from the 200-day moving average, which had previously acted as resistance in April. Near the $1070 mark, there is a noticeable strengthening of buying, as in July. The crypto market is now in a panic liquidation phase, occurring amid a raid on cryptocurrencies, which can be compared to the bank run in the early 20th century. The fundamental difference is that banking was already an established business back then, although regulation was in its infancy. The current crisis may be the catalyst for crypto regulation. If we look at the situation from a market speculator's perspective, we are in the process of capitulation. Such moments often precede long-term reversals. But it is worth realising that despite Bitcoin's 5% rebound from the start of the day and the double-digit rise in yesterday's casualties, the sell-off may not yet be over. In our view, the crypto market is now in the same phase where it was in late 2018 when the bulk of the decline was behind it, but the best speculative buying moment was still a year away. Nickel Digital Asset Management's survey and Solana price free fall The prolonged, almost 5-month sideways slide has relaxed market participants. The sharp fall in crypto assets took traders by surprise. Investors have been forced to sell off cryptocurrencies to cover losses on loans secured against them due to margin calls. The FTX exchange itself, along with Alameda, may also have been selling off assets. The most significant drop in the top-100 crypto was Solana, which collapsed by 49%, as one of the largest holders of SOL was Alameda Research, the investment company of FTX exchange head Sam Bankman-Fried. Marathon Digital CEO Fred Thiel said his mining firm was the second-largest public company in the world (11,300 BTC) in terms of bitcoins stored, thanks to its retention of mined BTC. MicroStrategy remains the leader, with around 130,000 BTC stored in its wallets. According to a survey by Nickel Digital Asset Management, 92% of professional investors are optimistic about the outlook for the cryptocurrency market, despite its decline.
US Inflation Forecasted at 3.3%, UK GDP Projections at 0%, Fed Member Harker's Views on Rates

Today’s US Inflation Report Becomes Even More Important

Craig Erlam Craig Erlam 10.11.2022 12:04
We’re seeing some risk aversion in financial markets on Thursday as we await inflation data from the US later in the week. It probably won’t come as a surprise to many that we’re seeing stock markets in the red considering how well they’ve performed in recent days and weeks. It would appear we’ve seen a lot of buying on the hope of a Fed pivot and some weaker inflation and labour market figures. Well, the Fed kind of pivoted but indicated that the terminal rate may be higher. The labour market is still extremely tight and Friday delivered another hot report. Big tech seems to find itself in the minority in terms of its decision to let go of large numbers of staff, with Twitter and Meta most notably making huge redundancies in recent weeks. With neither the Fed nor the labour market fully delivering – and one could argue they never were likely to – today’s inflation report becomes ever more important. Another hot reading could be the latest in a growing list of setbacks for investors, who have been all too keen to buy at discounted levels in the hope the data rewards them. So far it hasn’t. That will turn at some point of course and this could be that moment. The million-dollar question is how fast will it fall. As this will ultimately determine the Fed’s response. The best thing about a slower pace of tightening is that it allows time for the data to justify smaller rate hikes and an eventual end to the tightening process. Without it, the Fed will be in a very uncomfortable position of blindly weighing up inflation, recession and overtightening risks. Is FTX a one-off? Bitcoin is trading up more than 5% today but that comes following two terrible days for cryptos. Bitcoin fell more than 25% from the start of trade on Monday before finding some support around $15,500 and recovering slightly. The situation at FTX has unravelled at a remarkable pace, culminating on Wednesday evening with Binance bailing on its rescue offer following some due diligence and new allegations. The ripple effects throughout the industry have been severe so far, with the fear not just being which other tokens could be exposed but whether similar vulnerabilities exist elsewhere. As Warren Buffett says, it’s only when the tide goes out that you learn who has been swimming naked. Well, it may well be on its way out and traders are fearing what it will uncover. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Technical Outlook Of The Further Movement Of Bitcoin

A Recovery Movement Of Bitcoin (BTC) Is Not Expected

InstaForex Analysis InstaForex Analysis 10.11.2022 13:02
The situation in the cryptocurrency market continues to worsen due to a series of negative events that have formed as a result of the probable bankruptcy of FTX. Market capitalization fell by 5% over the past day and reached $840 billion. Pandora's Box The situation around FTX has become a Pandora's box for the crypto market and provoked further outflow of funds from most exchanges. Over the past day, $1 billion in ETH, $950 million in USDC, $400 million in USDT and $195 million in BUSD have been withdrawn from centralized platforms. Binance also confirmed its exit from the deal to buy FTX, which caused the altcoin Solana to drop to $12. More than $300 million is expected to be withdrawn from SOL staking today, which is highly likely to be sent to the order book. In addition, Bitcoin has finally consolidated below $17k, and as of November 10, it is trading near the level of $16.7k. Over the past day, the asset has lost 6.5% of capitalization, which brings the asset closer to the cost price level. JPMorgan experts say that the price of BTC is approaching the average value for the cost of production. A fall in Bitcoin quotes below this indicator can cause a cascade of margin calls from large investors and mining companies. Crypto mining companies are also going through hard times after BTC falls below $20k. It is likely that soon we will see the resumption of the process of capitulation of miners and the bankruptcy of some companies. The total losses of the crypto market over the past three days exceed $1 billion. Some crypto influencers are confident that the FTX bankruptcy will be the starting point for the industry in a series of bankruptcies of large companies. First of all, we will see the completion of the history of a number of mining companies and decentralized crypto platforms. Inflation statistics On November 10, monthly statistics on the dynamics of the consumer price index will be published. Despite the harsh rhetoric of the Fed, experts from leading US banks said that a more rapid fall in inflation is expected in the coming months. Given the likelihood of a favorable outcome for the CPI, today may be a necessary recovery pause for the market. At the same time, it is important to understand that the inflation data will cause additional unrest in the market; therefore, the movement of quotes of fixed assets will become unpredictable. Despite the deplorable nature of the current situation, the markets see light at the end of the tunnel in the spring of 2023. According to expectations, the Fed will raise the rate by 0.5% in December and February, followed by monetary policy easing. BTC/USD Analysis Bitcoin finally said goodbye to the main range of fluctuations of the last five months and consolidated below $17k. Given the tension of the situation and a lot of negative factors, there is every reason to expect a further fall in the price of BTC. Among the most likely targets, it is worth highlighting the $15.8k level, which the price has already tested. In the coming days, we should expect a retest of this indicator, followed by a pullback. Looking back at the 2018 fractal, there is every reason to believe that Bitcoin will find a bottom below $12.5k. In the short term, we see signs of buying activity. The technical metrics on the daily chart point to an increase in bullish sentiment and an attempt to gain a foothold above $17k. The Stochastic has formed a bullish crossover, while the RSI has rebounded from the lower border of the bullish zone and continues to move up. Results It is not worth expecting a recovery movement of BTC without an admixture of manipulation in the coming weeks. The crypto market is entering the final phase of the correction, which will confirm the cyclical fall in Bitcoin quotes by 85%. As of November 10, the asset has fallen by 77%, and therefore there is room for further decline. Given this, the $15.8k level is unlikely to be the bottom of the current cycle. The combination of negative factors and historical accuracy suggest that BTC will form a bottom near $11k–$12.5k.     Relevance up to 11:00 2022-11-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/326778
WTI Oil Shows Signs of Short-Term Uptrend Amid Medium-Term Uptrend Phase

The US Dollar (USD) Suffered Heavy Losses | UK Gross Domestic Product (GDP) Grew

TeleTrade Comments TeleTrade Comments 11.11.2022 09:05
The upbeat market mood remains intact on the last trading day of the week as investors cheer the soft inflation data from the US and news of China easing the Covid-related restrictions. The US Dollar Index continues to edge lower below 108.00 after having lost more than 2% on Thursday and global stock indices push higher. Bond markets in the US will be closed in observance of the Veterans Day holiday but Wall Street will operate at the usual hours. The US economic docket will feature the University of Michigan's Consumer Sentiment Survey (preliminary) for November and investors will keep a close eye on central bank speakers ahead of the weekend. The US Bureau of Labor Statistics announced on Thursday that inflation in the US, as measured by the Consumer Price Index (CPI), declined to 7.7% on a yearly basis in October from 8% in September. The Core CPI, which excludes volatile food and energy prices, fell to 6.3% from 6.6% in the same period. With both of these readings coming in below market expectations, the CME Group FedWatch Tool's probability of a 50 basis points Fed rate hike in December jumped above 80% from 50% earlier in the week. In turn, major equity indexes in the US registered impressive gains, the US Dollar suffered heavy losses and the benchmark 10-year US Treasury bond yield declined toward 3.8%, losing nearly 7% on the day. US Inflation Analysis: Hiking is hard in the fog, Dollar set to decline (until the next CPI). Earlier in the day, China's National Health Commission announced that they have decided to reduce the required quarantine times for travellers and people who had close contact with identified Covid cases. The Shanghai Composite Index was last seen rising nearly 2% on the day and Hong Kong's Hang Seng Index was up 6.8%. Reflecting the risk-positive market environment, US stock index futures are rising between 0.5% and 0.7%.  The UK's Office for National Statistics (ONS) reported on Friday that the Gross Domestic Product (GDP) grew at an annualized rate of 2.4% in the third quarter, compared to the market expectation of 2.1%. Other data from the UK showed that Industrial Production expanded by 0.2% on a monthly basis in September. GBPUSD largely ignored the latest data and was last seen moving sideways slightly above 1.1700. EURUSD registered impressive gains on Thursday and continued to edge higher during the Asian trading hours on Friday. The pair was last seen trading at its highest level since mid-August slightly above 1.0200. USDJPY lost more than 400 pips on Thursday and touched its weakest level in seven weeks near 140.00 before staging a rebound on Friday. At the time of press, USDJPY was up 0.5% on the day at 141.65. Fueled by plunging US Treasury bond yields, gold price rose nearly 3% on Thursday and registered one of its largest one-day gains of the year. XAUSD is currently trading above $1,750 and it's up nearly 5% since the beginning of the week. Bitcoin gained 10% on Thursday after having lost more than 20% in the first half of the week. BTCUSD, however, seems to be having a difficult time gathering bullish momentum early Friday as markets keep a close eye on developments surrounding the FTX drama. As of writing, Bitcoin was down nearly 2% on the day at $17,250. Ethereum trades in negative territory at around $1,250 early Friday following Thursday's 17% gain. California financial regulator announces FTX investigation. Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptos bounce as FTX CEO vows to do right by investors.
The FTX Bankruptcy Exposed Vulnerabilities In The Crypto System

Robert Kiyosaki Is Not Worried About The Price Of Bitcoin

InstaForex Analysis InstaForex Analysis 14.11.2022 09:42
Crypto Industry News: Rich Dad Poor Dad author Robert Kiyosaki says he is not worried about the price of Bitcoin when BTC fell below $17,000 in the implosion of the FTX cryptocurrency exchange. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times bestseller list for over six years. Over 32 million copies of the book have been sold in over 51 languages in over 109 countries. "Bitcoin? Worried? No. I'm a Bitcoin investor just like I am an investor in physical gold, silver and real estate. I'm not a trader or flipper. When will Bitcoin hit a new low, $10K to $12K? I'll be excited, not worried" - Kiyosaki wrote. He added that by betting on gold, silver and Bitcoin, he was betting against the Federal Reserve, the Treasury and President Joe Biden. The famous author has been recommending Bitcoin for a long time. Last month, he explained why he was buying BTC. In September, he urged investors to get into cryptocurrencies before the biggest economic meltdown ever happened. He also recently warned that the stock, bond and real estate markets will collapse as the Federal Reserve continues to raise interest rates. He has also repeatedly warned that Fed rate hikes will destroy the US economy. Technical Market Outlook: The BTC/USD pair has bounced from the swing lows located at the level of $15,555 and tested the technical support seen at $17,600. Moreover, the bulls retraced 38% of the whole sell-off and hit the level of $18,135 before the pull-back towards the sell-off lows was made. During the weekend the local low was made at the level of $15,800, only $250 above the swing low. The market conditions on the H4 time frame chart are still oversold, however, no significant breakout has been made yet. The nearest technical resistance zone is seen at $17,600 $18,150 and $18,220. There is no indication of the down trend to terminate or reverse just yet. Weekly Pivot Points: WR3 - $18,079 WR2 - $17,175 WR1 - $16,785 Weekly Pivot - $16,272 WS1 - $15,888 WS2 - $15,369 WS3 - $14,456 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.     Relevance up to 09:00 2022-11-15 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300857
India’s Investing In Program For The Green Hydrogen Industry | Covid Situation In China Is Getting Serious

In China Will Remain Heavy Restrictions And Lockdowns

Craig Erlam Craig Erlam 14.11.2022 10:43
It’s been quite a choppy start to the trading week, with much of the focus on China where Covid relaxation measures and property market support have brought some relief. Unfortunately, both come at a time of record Covid infections in major cities including Beijing and Guangzhou. And those relaxation measures that were announced are not ambitious enough to make any difference in those cities seeing rising cases which means activity is going to weaken. There is hope that China could further relax its zero-Covid policy next spring but for now, mass testing, heavy restrictions, and lockdowns are here to stay, despite growing opposition and fatigue. Those hoping that this initial relaxation phase would be more substantial were always setting themselves up for disappointment. Property stocks in China and Hong Kong were given a big lift at the start of the week as Beijing unveiled its 16-point plan to support the industry. Having almost brought the industry to its knees as part of its reform efforts, Beijing is attempting to build it back up but as it’s already finding, the former is much easier to do than the latter. Confidence is shattered and it will take time, effort, and patience to restore it. Now it’s a question of how much these measures will undermine Beijing’s initial reform measures and whether they’ll even succeed in reinvigorating the industry. Efforts until now have been like pushing on a piece of string. Bad timing Bitcoin waited patiently for this moment, forming a base around $20,000 in anticipation of inflation falling and the Fed narrative becoming much less hawkish. Unfortunately, that moment coincided with the spectacular collapse of FTX which has sent shockwaves through the industry and hammered crypto prices. Rather than taking off, bitcoin has plummeted to levels not seen in two years and further pain may lie ahead. There’s now enormous uncertainty in the space which could hold it back in the near term and weigh on prices. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Bitcoin Has A Sign Of The Sideways Regime

One of the top digital assets exchanges has crashed, but JPMorgan seems to see the other side of the coin

Alex Kuptsikevich Alex Kuptsikevich 14.11.2022 13:02
Bitcoin is trading just below 16K by the start of active European trading on Monday, losing 23.6% to levels of seven days ago. Ethereum collapsed 25% to $1190. Other top altcoins in the top 10 fell from 20% (BNB) to 29.6% (XRP). The total capitalisation of the crypto market, according to CoinMarketCap, fell 27% over the week to $757bn, to its lowest level since December 2020. Bitcoin and the overall crypto market collapsed to two-year lows last week amid the bankruptcy of cryptocurrency exchange FTX and related companies. We continue to compare what is happening to the banking crises of the early 20th century, which led to the formation of modern securities market regulation with more transparency for investors but less anonymity. Bitcoin was down to $15.8K by Monday morning, repeating lows set from Wednesday to Thursday. This is a timid attempt by speculators to form a 'double bottom', a reversing pattern in tech analysis. But we also draw attention to the impressive selling hitting the crypto market on bounces from increasingly lower highs. This behaviour still indicates a huge interest in selling, creating risks for a new, deeper downside slippage. This could be the $12-14K range in a reduced liquidity environment. The collapse of FTX is likely to cause more reputational damage to second-order altcoins, pushing back the new alt-season for some time. However, the top two dozen cryptocurrencies with working projects remain a good long-term bet for a diversified crypto portfolio. Changpeng Zhao, CEO of Binance talks probable crash of other crypto companies According to Glassnode, the share of profitable bitcoin addresses online has fallen to 50% - the lowest since March 2020. Short-term investors who have held BTC for less than six months have once again capitulated. Miners were also part of the reset, data from the CryptoQuant platform shows. Long-term investors, who now control up to 35.4% of the total BTC supply, also suffered significant losses. The current situation in the cryptocurrency industry echoes the 2008 financial crisis, and more companies could collapse in the coming weeks, warned Binance CEO, Changpeng Zhao. He said that the market has yet to feel the effects of the crisis around FTX. JPMorgan believes the collapse of FTX will help the cryptocurrency industry recover and prompt regulators to speed up regulation of the sector.
Bitcoin is trying to resume its upward movement

The Binance Crypto Exchange Announced The Creation Of An Industry Recovery Fund

InstaForex Analysis InstaForex Analysis 14.11.2022 13:37
Over the past week and a half, the situation on the crypto market has deteriorated significantly. The collapse of FTX in terms of its scale and consequences is comparable to the fall of Luna, and therefore carries a loud negative context far beyond the crypto market. Cryptocurrency market capitalization has fallen to $830 billion due to a record outflow of funds from centralized platforms. According to research by Glassnode, more than 106,000 BTC have been withdrawn from crypto exchanges in the last month. Such large outflows of funds have occurred three times in history: in April and November 2020, and also in June/July 2022. Bloomberg claims that the situation with FTX has negatively affected the reputation of the cryptocurrency market. The publication analyzed the balance sheet of the exchange and concluded that customers have little chance of returning their deposits. Analysts also suggest that the collapse of the crypto exchange has undermined the prospects for digital assets to become a mainstay of institutional investors' portfolios. At the same time, CoinShares recorded $46 million inflows to crypto funds last week during the FTX crash. This directly refutes Bloomberg's suggestion and suggests that investors see the price drop as an opportunity. It's not that bad Not everyone panics and falls into total despondency against the background of what has happened over the past few weeks. Glassnode believes that the collapse of FTX was the reason, not the reason for the fall of the crypto market. Experts believe that in a more favorable situation, the collapse of the crypto exchange would attract much less attention. Glassnode noted that the next collapse of the crypto market fully corresponds to the process of market recovery and the flow of capital to long-term owners. Given this, analysts believe that the consequences of the FTX fall will be short-term. JPMorgan experts also assess the situation as stable and see no signs of an industry collapse. At the same time, analysts predict a fall in Bitcoin quotes to the cost of $13,000. Earlier, the bank noted that a fall in the price of BTC to this level could cause a series of margin calls and, as a result, the bankruptcy of a number of companies. In order to prevent the situation from worsening, the Binance crypto exchange announced the creation of an industry recovery fund. The structure will help strong projects solve the liquidity problem and survive a difficult market period. Tron founder Justin Sun also joined the initiative. BTC/USD Analysis After the publication of a tweet by the CEO of Binance, Bitcoin quotes recovered above $16.5k. Despite this, the situation on BTC is developing according to the scenario of the bears. The cryptocurrency has finally consolidated below the level of the previous local bottom and every day of trading costs the market big losses. Over the past five days, the price of Bitcoin has fallen below $16k three times, which may indicate a continuation of the downward trend to the $14k–$15k range. Despite the negative trend, there are signs of a rebound on the daily BTC/USD chart. The RSI and Stochastics rebounded from the lower border of the bullish zone, which indicates the activation of buyers and an attempt to break through the $17.3k–$17.6k zone. Fundamental factors At the same time, fundamental positive signals are visible on the chart of the US dollar index. The asset has reached a cyclical peak, which may indicate the end of the DXY upward trend. For high-risk assets, this can be a catalyst for growth. The current market cycle has presented us with many new patterns that run counter to past cycles. However, the accelerating fall in inflation, the readiness of the Fed to ease monetary policy and the approaching New Year holidays give arguments to believe that the December–February period will be a turning point and the global crisis will subside. Results Most likely, we should expect an update of the local Bitcoin bottom below the $15.5k level. The fall of the main cryptocurrency will provoke a series of bankruptcies and another market collapse. However, in general, the process of forming a local bottom and improving the market is coming to an end, and the macroeconomic situation is stabilizing.   Relevance up to 12:00 2022-11-15 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/327043
Changpeng Zhao's (Binance) announcement makes the leading cryptocurrency price soar

Changpeng Zhao's (Binance) announcement makes the leading cryptocurrency price soar

FXStreet News FXStreet News 14.11.2022 15:58
Bitcoin price rallied 5% within an hour following Binance CEO Changpeng Zhao’s announcement to support crypto projects with a recovery fund. CZ wants to revive projects hit by a liquidity crisis post FTX-Alameda collapse. Analysts predict a short-term recovery in Bitcoin price with more downside from a macro outlook should the current support levels give way. Binance CEO Changpeng Zhao’s (CZ) announcement of his plan to rescue crypto projects hit by the recent liquidity crisis triggered a recovery in Bitcoin. The largest asset by market capitalization rallied 5% within an hour of CZ’s announcement. Analysts remain bullish on BTC and particularly decentralized exchange tokens and related altcoins and expect a spike in buying pressure in today’s US trading session. Bitcoin price begins recovery after Binance’s announcement Bitcoin price yielded 21% losses for holders over the past week following the collapse of FTX exchange and sister trading firm Alameda Research as investor confidence hit rock bottom. BTC crumbled under rising selling pressure from traders lining up to exit the risk asset after FTX’s bankruptcy filing. Binance CEO Changpeng Zhao announced his plan to put together an “Industry Recovery Fund,” and offer a second chance to projects hit by a liquidity crisis. In response to the news of the announcement, prices of Bitcoin, Ethereum and other altcoins in the top 30 recovered 5% within an hour. Bitcoin price rallied from its 24-hour low of $15,906 to a high of $16,580. This move fueled bullish sentiment amongst BTC holders after the recent run of negative headlines. Bitcoin price could attempt further recovery as CZ unveils a plan to rescue crypto projects. Traders are betting on Bitcoin price rally Nearly 71% of all accounts with an open position in Bitcoin on Binance Futures exchange are betting on a BTC price rally. This is an affirmation of the fresh bullish sentiment among traders as Binance paves the road for crypto recovery. Binance Futures long/short ratio After its lowest weekly close in two years, Bitcoin price is ready for a recovery. Elon Musk, CEO of Tesla tweeted that Bitcoin will make it, but it might be a long winter. Bullish affirmation from the self-proclaimed Dogefather and crypto proponent Musk and a plan for recovery from Binance CEO CZ have lent a bullish start to the week before the New York trading session opens. RektCapital, crypto analyst and trader argues Bitcoin price is currently down 75% from its all-time high. In previous bear markets, the retracement has averaged around 84.5%. Thus, by historical standards there isn’t much downside left to go, and Bitcoin price could therefore begin its steady climb in the short-term. Bitcoin price could retest $17,251 Akash Girimath, technical analyst at FXStreet evaluated the BTC/USDT perpetual futures chart and argued that Bitcoin price could witness an 8% upswing and retest the inefficiency known as the Fair Value Gap (FVG) at $17,251. BTCUSDT perpetual futures chart If Bitcoin price manages to flip the hurdle at $17,593, it would invalidate the bearish bias and extend its gains from $17,251 to $19,500.
Crash of cryptocurrency exchange FTX made Bitcoin decrease significantly - Geco.one Weekly Crypto Market Analysis

Crash of cryptocurrency exchange FTX made Bitcoin decrease significantly - Geco.one Weekly Crypto Market Analysis

Geco One Geco One 14.11.2022 21:00
Bitcoin (BTC) The collapse of FTX, the third largest cryptocurrency exchange in the world, caused Bitcoin to plunge below $ 16,000, the lowest level since November 2020. This sale increased the scope of the BTC depreciation that has lasted for a year to over USD 53,000, i.e., over 77%. All this meant that even a year ago, you had to pay $ 69,000 for one Bitcoin; today, it costs about $ 16,000. However, one can estimate that if it weren't for the confusion around the FTX exchange, Bitcoin would cost much more today. This is evidenced mainly by the market reaction to the consumer inflation (CPI) report in the United States published last Thursday. This report shed an entirely new light on the further tightening of the Fed's monetary policy, which contributed to the sudden increase in the BTC rate during Thursday's trading by over 10%. We learned from this report that the price growth dynamics in the US continued to slow down and that its slowdown suddenly accelerated significantly. Over the past few months, we have observed a decline in consumer inflation (CPI) in the United States by 0.6 percentage points from 9.1% in June this year up to 8.5 per cent in July, by 0.2 percentage point up to 8.3 per cent in August and by 0.1 percentage point up to 8.2 per cent in September. Thus, one can see that after the first substantial decline of 0.6 percentage points, in the following months, the slowdown in price growth slowed down significantly to 0.2 percentage points and further 0.1 percentage points. Unexpectedly, in October this year, however, inflation fell by as much as 0.5 percentage points to 7.7%, which turned out to be a much better result than expected. Economists forecasted a decline in the CPI by only 0.2 percentage points up to 8.0 per cent. At the same time, there was also a decline in core inflation reflecting the change in consumer prices, excluding food and energy prices, by 0.3 percentage point up to 0.3 per cent from 0.6 per cent before a month. This reading also turned out to be better than the expectations assuming a decline of only 0.1 percentage point Up to 0.5 per cent. It is noteworthy that while the full CPI (blue line in the chart below) was the fourth consecutive decline, the upward trend was just broken in the case of core inflation (red line in the chart below). Considering that the highest consumer inflation in over 40 years was the primary catalyst observed since March this year's cycle of monetary policy tightening, the decline in price growth may induce the Federal Reserve to reduce the scale of further tightening. Such a scenario became the baseline scenario almost immediately. The inflation report made up to 80.6 per cent Probability increased that after four in a row rate hikes by 75 bp, the Fed will decide during the December meeting to raise the federal funds rate by only 50 bp. Even before the publication of the report on CPI inflation in the US, the probability of such a move was estimated at only 52% and 48%. Chances were given for the fifth consecutive 75bp rate hike. Currently, such a scenario is valued at only 19.4% You can see that the report published last Thursday increased expectations about the Fed's pivot, i.e., a change in the attitude of the American central bank to further moves in interest rates. A sharp increase in the chances of a federal funds rate hike by only 50 bp. However, during the December Fed meeting, other changes took place after publishing the report on consumer inflation in the US. Until recently, investors expected that the Fed would decide to raise interest rates two in a row. 50 bps each during the meetings scheduled for December this year and February next year, and one hike by 25 bp. During the March meeting. As a result, the federal funds rate was to rise from 4.00% to 4.5 % in December this year, 5.00 per cent in February 2023 and 5.25 % in March 2023, which was to be the target level at which this rate would remain at least until December next year. Currently, however, this rate is expected to increase by 50 percentage points in December this year and 25 bp in February and March 2023, which means that it may eventually reach 5.00 per cent instead of 5.25%. All this means that the Fed's policy, which was one of the main catalysts for the cryptocurrency winter observed since the beginning of 2022, may stop having a negative impact on the cryptocurrency market, which is also supported by the over 10% increase in the BTC rate during Thursday's trading. These increases, however, turned out to be only temporary, and we have seen declines again since last Friday. This trend is due to the turmoil around FTX, the third-largest cryptocurrency exchange that has filed for bankruptcy due to liquidity problems. Theoretically, all the worst has already happened, but there may be an avalanche of bankruptcies of other companies in the industry, which could naturally weigh on the entire market causing it to fall even deeper. It seems that although Bitcoin is gaining ground on Monday morning, it is still far too early to open the champagne and announce another boom. In practice, there is still a considerable likelihood of further sales of BTC and most cryptocurrency projects. Looking at the weekly interval, you will notice that the BTC price has slipped below the technical support of $ 18,500 over the past week. This level was determined based on the peaks from December 2017. Given that defeating one support tends to open the proverbial door to further depreciation to the next support area, in this case, a drop below $ 18,500 increased the likelihood of a further sell-off towards $ 12,000. On the one hand, it may seem that this range is almost abstract; on the other hand, it is worth noting that only last week, the BTC rate fell by almost USD 4,600. So, given the current price level, it would be enough for Bitcoin to repeat such a decline, and the $ 12,000 support would be tested. According to the popular opinion that "after every storm, the sun comes out", and similar to previous years, when the cryptocurrency market returned to the growth path after each of the bursts of the bubble so far, breaking new ATHs, it can be expected that it will be the same this time. There are several factors for this: First, every topic, including every problem, sooner or later becomes commonplace, and the financial markets pass it on to the agenda. This was the case with the collapses of the Mt.Gox stock exchange in 2014 (the largest cryptocurrency exchange in the world at that time) or QuadrigaCX in 2019 (the largest cryptocurrency exchange in Canada, about which Netflix even made a document). Second, the Federal Reserve is nearing the end of its monetary tightening cycle. While Fed interest rates are likely to remain high for most, or even throughout 2023, the Fed is likely to begin an easing cycle in 2024 that, like in 2020, may contribute to an uptrend on risky assets such as stocks or cryptocurrencies. Ethereum (ETH) Ethereum fell by more than 36% between November 4 and 9. Despite Thursday's rebound, it is still far too early to forecast that the cryptocurrency will return to the upward path. If the declines observed since last Friday continue, the ETH exchange rate could fall even to USD 1,000.
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Bitcoin (BTC) Has Good Sign For Further Growth

InstaForex Analysis InstaForex Analysis 15.11.2022 09:34
Technical analysis: BTC has been trading upside as I expected. I found breakout of the downside channel in the background, which is good sign for further growth. Trading recommendation: Due to the breakout of the downside channel in the background, I see potential for further growth. Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $18.143. MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control. Key support is set at the price of $16.170 Relevance up to 09:00 2022-11-16 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Read more: https://www.instaforex.eu/forex_analysis/301041
Bitcoin Has Made A Dynamic And Aggressive Reversal

Edward Snowden Thinks That It Is Good Time To Buy Bitcoin

InstaForex Analysis InstaForex Analysis 15.11.2022 09:36
Crypto Industry News: Edward Snowden shared his thoughts on Bitcoin with Twitter users. Namely, his intuition tells him that we are now at a similar point as around March 2020, i.e. at a time when "disproportionate panic compared to its causes" can be observed. In his opinion, this could be a very good time to buy Bitcoin (BTC). "There's still a lot of trouble ahead, but for the first time in a while I'm starting to feel the itch to scale back in," Snowden wrote. Recall that in March 2020, the price of Bitcoin (BTC) fell sharply to levels below about $5,000. According to a former contract employee of the US secret services NSA and CIA, the current market sentiment strongly reminds him of March 2020, when Bitcoin began the consolidation phase. A similar opinion is shared by well-known Twitter analyst Michael van de Poppe - "markets are just consolidating," he admits. Snowden's intuition was supposed to turn on after the recent fall in the value of Bitcoin (BTC) caused by the spectacular collapse of the FTX exchange. Snowden also admitted that although the cryptocurrency market still has many problems ahead, for the first time in a long time he feels the desire to return. Technical Market Outlook: The BTC/USD pair has bounced from the swing lows located at the level of $15,555 and tested the technical support seen at $17,600. Moreover, the bulls retraced 38% of the whole sell-off and hit the level of $18,135 before the pull-back towards the sell-off lows was made. The market conditions on the H4 time frame chart are still oversold, however, no significant breakout has been made yet. The nearest technical resistance zone is seen at $17,600, $18,150 and $18,220. There is no indication of the down trend to terminate or reverse just yet as the market keeps trading in a relatively narrow range. Weekly Pivot Points: WR3 - $18,079 WR2 - $17,175 WR1 - $16,785 Weekly Pivot - $16,272 WS1 - $15,888 WS2 - $15,369 WS3 - $14,456 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-11-16 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301046
The RBA Will Continue At A 25bp Pace At Coming Meetings

Reserve Bank of Australia (RBA) Could Move Back To 50bps Should The Data Warrant It

Craig Erlam Craig Erlam 15.11.2022 11:45
Equity markets are looking slightly positive in early trade on Tuesday, adding to modest gains at the start of the week. While the rally is perhaps slowing a little after the strong gains of recent weeks, there doesn’t appear to be much appetite at this stage to bail on it. Perhaps the experience of the last year and the huge declines in equity markets have left investors seeing substantial value and they’ve become excited at even the prospect of a bull run. Perhaps there’s some FOMO at play after a long time of such opportunities being few and far between. Not a great UK labour market report I’m not entirely sure who will look at the UK labour market and be able to take many positives from it. The unemployment rate ticking up when job vacancies have fallen for the fourth month may suggest to the BoE that slack is appearing. But at the same time, the rate remains very low and wages excluding bonuses rose by 0.2% to 5.7%, exceeding expectations, which will be a concern when inflation is already above 10% and rising. Inactivity is another negative takeaway as this makes the job of increasing slack in the labour market all the more difficult. Whichever way you look at it, this isn’t a great report and it will likely keep the pressure on the BoE to keep hiking aggressively, creating further headwinds for the economy. Sensible RBA minutes move away from the era of forward guidance The key takeaway from the RBA minutes overnight was that forward guidance will no longer be a tool the central bank leans on unless there is value in doing so. The RBA wants to maintain a flexible approach based on the incoming data rather than be tied to its guidance, which makes a lot of sense in these highly uncertain times. It highlighted the benefits of explicit and specific guidance in certain situations but the current one simply doesn’t tick any of those boxes. As such, while a 25 basis point hike was appropriate at the last meeting – and I assume will be at the next – the central bank could move back to 50bps should the data warrant it. That all sounds very sensible. Traders may be tempted to sidestep cryptos for a while Bitcoin is fighting back this morning but it remains very much on the ropes. Gains of more than 2% barely offset the losses since Friday, let alone what came earlier that week. Cryptos remain very vulnerable, not just to the fallout from FTX – the full extent of which remains a cloud of uncertainty over the industry – but also to what else may be uncovered as the environment becomes ever more challenging. What we’ve seen recently will be discouraging to some who may have become tempted in recent years but with rates no longer at zero and more traditional assets arguably becoming attractive once more, traders may be tempted to sidestep cryptos and wait for the storm to pass. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
ByBit talks trading bots. What are they? How can they help?

Elon Musk talks "crypto winter" and survival of the leading cryptocurrency. Janet Yellen (US Treasury Secretary) comments on regulating crypto industry

Alex Kuptsikevich Alex Kuptsikevich 15.11.2022 10:46
Market picture Bitcoin is trading in the $16.7K area (+1.6% in 24 hours), a significant consolidation area of the past five days. It was helped back to these levels by the news of Binance launching a fund to help cryptocurrency companies experiencing temporary liquidity difficulties. The information has stopped a wave of selloffs but has yet to be able to turn the market around. On the intraday charts of BTCUSD, there is a notable resistance area near the current price. In Ethereum, the situation is very similar, and the price fails to develop a growth above $1250 (+2.2% in 24 hours). The two most popular cryptocurrencies have the largest share of institutional investors, whose confidence in the sector has been eroded recently. It is their professional unloading into the market that we are now seeing on the charts. Read next: Fed may delay the rate of its interest rate hiking cycle, Musk’s Tesla lawsuit to hit court, U.S stock market rally| FXMAG.COM The entire crypto market is more enthusiastic, adding 4.3% in capitalisation overnight to $841B, according to CoinMarketCap estimates. According to CoinShares, investments in cryptocurrencies rose last week to their highest in three months. Inflows of $42M compared to outflows of $16M a week earlier. Bitcoin investments rose by $19M, and Ethereum by $3M. Investments in funds that allow shorts on bitcoin increased by $13M. Altcoin basket products attracted the highest since June by $8M. Investors saw the FTX collapse as an investment opportunity, CoinShares noted. According to Glassnode, BTC withdrawals from cryptocurrency exchanges reached an all-time high of 106,000 BTC for the month. Previously, the market has only experienced similar BTC outflows three times in history. Zhao and Saylor suggest cold wallets Binance CEO Changpeng Zhao and MicroStrategy founder Michael Saylor urged users to store assets in cold wallets, especially during "market turbulence". According to Bloomberg, FTX customers are unlikely to get their funds back. Elon Musk said the crypto winter could be long, but bitcoin would eventually survive. The collapse of FTX showed that the cryptocurrency industry needs "prudent regulation", US Treasury Secretary Janet Yellen said. The consequences of the incident could have been much worse if the crypto market had been more connected to the traditional financial system, she said.
The Ethereum Has Located Just Above The Key Short-Term Technical Support

The Fundamental Interest In Ethereum Is Much Higher Than In Bitcoin

InstaForex Analysis InstaForex Analysis 15.11.2022 13:18
Last week was one of the worst stretches for the crypto industry over the past two years. The main assets have updated local lows, and the market capitalization has decreased to $740 billion. Ethereum last week Quotes of the main altcoin also sank significantly following the results of the previous trading week. Ethereum fell in price from $1,650 and updated the local bottom around the round $1,000 mark. However, unlike Bitcoin, Ethereum has managed to attract the attention of big business. Ethereum was falling down to the level of $1,200, where stability appeared, which indicated the activation of buyers. Santiment confirm that the buying sentiment of the big business towards ETH has increased significantly during the market crash. Analysts noted that addresses holding 100,000–1,000,000 ETH bought more than 650,000 ETH at the peak of the market decline. In part, it was the activation of big capital that allowed Ethereum to slow down the fall near the $1,200 area and maintain the $1,000 level. A massive buyout of ETH/USD near $1,000 indicates the market's readiness to defend this frontier. In the medium term, this may mean that the local bottom of the main altcoin is formed precisely in the range of $1,000–$1,200. ETH/USD analysis The second key moment, showing the stability of ETH in comparison with Bitcoin, is a powerful attempt to form a bullish engulfing pattern on November 10th. The bulls failed but allowed the altcoin to gain a foothold above $1,200. Subsequently, Ethereum continued its local decline, following Bitcoin, but managed to maintain the $1,200 support zone. In the short term, the main target of the altcoin will be the line of $1,280–$1,350. If it breaks out of this zone, ETH will follow to the resistance level near $1,450. On the daily chart, the situation looks uncertain, as the potential of the bulls was exhausted after the retest of the $1,300 level. At the end of the current trading day, ETH is trying to storm the upper border of the $1,350 area, but technical metrics indicate the weakness of buyers. The MACD indicator on the daily chart is moving in a downward direction in the red zone. At the same time, the stochastic oscillator has formed a bullish crossover near the level of 35, and the RSI shows an increase in buying activity. The probability of a breakdown of $1,300 at the end of the current trading day is small since, before that, Ethereum had been moving near the $1,300 level for more than a month. In addition, the market is not in optimal conditions to maintain an upward momentum. Daily ETH trading volumes barely reach $13 billion. Results Ethereum needs a local pause to stabilize the situation and reduce the level of volatility. The fundamental interest in Ethereum is much higher than in Bitcoin at the current stage. Given this, it is likely that it is the altcoin that will resume the recovery movement towards the $1,500–$1,600 levels. In addition, do not forget that Glassnode experts record the largest increase in stablecoins on exchanges in history. Historically, the growth in the volume of stablecoins indicates the readiness of large capital for mass purchases. Given the growing open interest of "whales" in ETH, there is every reason to believe that altcoin will be the priority target for buying.     Relevance up to 10:00 2022-11-16 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/327160
Changing correlation of Bitcoin and US stocks. Brazil: Lower house of Congress approved crypto regulation bill

Video: Swissquote's Feyyaz Alingan talks FTX exchange, Bitcoin and more

Swissquote Bank Swissquote Bank 15.11.2022 19:14
The crypto crash last week will have many ripple effects, but how will it affect the crypto prices? We will discuss what happened last week and how the future of cryptocurrencies look now! 00:00 Intro 00:19 Preview 00:36 FTX bankruptcy 04:14 Bitcoin 07:23 Solana 07:55 Ethereum 09:10 Subscribe & Good bye #crypto #cryptonews #cryptotrading #swissquote ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Bitcoin Is Showing A Potential For The Downside Rotation

InstaForex Analysis InstaForex Analysis 16.11.2022 09:59
Technical analysis: BTC has been trading downside and I found rejection of the key resistance at the price of $17.100, which is sign that there is potential for the downside rotation. Trading recommendation: Due to the rejection of the resistance at $17.100, I see potential for the downside rotation towards lower references. Watch for the potential intraday selling opportunities with the downside objective at $16.200. Stochastic oscillator is showing fresh downside cross, which is strong sign that sellers are in control. Key resistance is set at the price of $17.100   Relevance up to 09:00 2022-11-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301217
Bitcoin Has Made A Dynamic And Aggressive Reversal

The Latest Drop In Mining Of Bitcoin Reserves Is The Sharpest

InstaForex Analysis InstaForex Analysis 16.11.2022 12:09
Crypto Industry News: Data shows that bitcoin miners dropped around 7,700 BTC in the last week, resulting in a nearly 10% drop in their reserves over the period. According to Glassnode's latest weekly report, the latest drop in mining reserves is the sharpest since September 2018. "Miner Balance" is an indicator that measures the total amount of Bitcoin currently held in the wallets of all miners. When the value of this indicator increases, it means that miners are just transferring resources to their wallets. Such a trend, if prolonged, may indicate accumulation from the chain validators and therefore may turn out to be bullish for the price. On the other hand, the drop in the rate suggests that miners are now withdrawing their BTC from their reserves. In general, miners transfer their funds for selling purposes, so this kind of trend can be bearish for crypto. Over the last week, the value of the index fell by 7.76 thousand. BTC, which is a total decrease of about 9.5%. According to this indicator, miners currently spend 6.45 thousand. BTC per month, which is more than during any sale in the last few years. In fact, the current monthly decline in miners' reserves is the sharpest since September 2018. Miners were under tremendous pressure before the latest crash as a long and deep bear market steadily reduced their profits. Technical Market Outlook: The BTC/USD pair has bounced from the swing lows located at the level of $15,555 and tested the technical support seen at $17,600. Moreover, the bulls retraced 38% of the whole sell-off and hit the level of $18,135 before the pull-back towards the sell-off lows was made. The market conditions on the H4 time frame chart are still oversold, however, no significant breakout has been made yet as the market keeps trading up and down in a whipsaw mode. The nearest technical resistance zone is seen at $17,600, $18,150 and $18,220. There is no indication of the down trend to terminate or reverse just yet as the market keeps trading in a relatively narrow range. Weekly Pivot Points: WR3 - $18,079 WR2 - $17,175 WR1 - $16,785 Weekly Pivot - $16,272 WS1 - $15,888 WS2 - $15,369 WS3 - $14,456 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 10:00 2022-11-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301239
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

The Cryptocurrency Market Expects A Stagnation And A Decrease In Trading Activity

InstaForex Analysis InstaForex Analysis 16.11.2022 14:26
Over the past few days, the cryptocurrency market has been digesting the events of the first half of November, which may give the impression that the situation has stabilized. In fact, there are many processes going on inside the industry that will become apparent only after some time. Consequences of updating the local bottom of BTC The fall of Bitcoin below $17k provoked a series of events that could aggravate the current state of affairs. JPMorgan bank experts have repeatedly stated that following the results of the current bear market, the main cryptocurrency will not stop at $15k. Analysts concluded that after the asset's quotes fell below $17k, Bitcoin became much closer to reaching the cost price level. If BTC tests or falls below the $11k–$13k area, the market may wait for a series of margin calls. Despite the absence of resonant news and events, investors are starting to withdraw Bitcoin from centralized platforms. Glassnode records record BTC outflows from crypto exchanges. Over the past week, the volume of funds withdrawn reached 157,000 BTC. There is also a record capitulation of miners over the past five years against the backdrop of updating the local bottom with Bitcoin. According to on-chain data, mining companies sold about 7,760 BTC last week. The growing volumes of BTC coins sold indicate a significant deterioration in the state of affairs of miners. Another worrying news was the possible bankruptcy of cryptocurrency lender BlockFi. Shortly before the news broke, the platform blocked the withdrawal of funds due to the bankruptcy of FTX. It is likely that BlockFi will be the first company to be hit by the FTX drop. Is it not so bad in the medium term? As for the longer run, there are positive signals that will help the market recover. Fed Vice Chairman Lael Brainard said that the latest inflation data will allow the regulator to slow down the key rate increase. In addition, Santiment and Glassnode record the activation of long-term investors who are buying back the current market bottom. There is a significant increase in the number of addresses with balances from 0.1 to 100 BTC. Wallets with a balance of 100 to 1,000 BTC are also actively using the discount window on the crypto market. BTC/USD technical analysis Bitcoin continues to consolidate in a narrow range of $15.7k–$17.2k. The main support area of the cryptocurrency was the level of $16.7k. As long as the asset holds this milestone, buyers have a chance to gain a foothold above the key resistance zone at $17.2k. As expected, trading volumes dropped significantly after updating the local bottom. It is worth adding that the outflow of users also provoked the collapse of FTX, and the reputation of centralized platforms was seriously shaken. Despite all these factors, buyers are trying to recover above $17k. The technical metrics of the asset do not show signals for a serious change in the situation in the next few days . RSI and stochastic are moving flat near the lower border of the bullish zone. At the same time, MACD turned sideways, which may be the first signal to end the dominance of sellers. At the same time, it is not worth counting on a serious recovery movement since the cryptocurrency has completely broken the correlation with stock indices. The stock market has shown good growth over the past two weeks, while the crypto market has updated the local bottom. Results In the near future, we should expect a lull in the crypto market and a decrease in trading activity. The main catalysts for significant changes will be fundamental news about the collapse of another crypto company or mining company. Given JPMorgan's forecast for BTC falling to $13k and this indicator corresponding to an 85% drop from the absolute high, there is a possibility of a further decline in BTC/USD. At the same time, this is most likely to happen before mid-December since, subsequently, the market is waiting for a positively saturated period.   Relevance up to 10:00 2022-11-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/327282
Bitcoin Has Strong Sign That Buyers Are In Control

The Bitcoin Cryptocurrency Is On The Verge Of A Collapse

InstaForex Analysis InstaForex Analysis 16.11.2022 14:34
It has been over a week since the flagship cryptocurrency consolidated below the 127.2% Fibonacci retracement of $18,500. Currently, bitcoin is hovering at around $16,900 per coin. Even before the collapse of the FTX exchange, digital gold traded in the range of $19,000-20,000. In the near term, it is unlikely to fully recover. Bitcoin is now closer to its annual lows than to the levels it traded at in the past 5 months. Clearly, trust in crypto exchanges and BTC was lost in light of recent events, and it has not been regained yet. Consequently, we may expect the continuation of the downtrend. In our view, the mark of $18,500 was a very important psychological level. Indeed, the price was unable to fall below it for 5 months. Moreover, it did not show significant growth during that time, and that would allow us to feel the presence of bulls in the market. However, we see that even after the collapse, investors are reluctant to buy the flagship cryptocurrency, which means they expect the continuation of the downtrend. At the same time, Morgan Stanley experts say BTC may slide to $14,000. They believe the market is still digesting FTX's bankruptcy and is bracing for stronger selling pressure. Morgan Stanley does not exclude the possibility of a fall in BTC to $12,500. We assume it may go down to $12,426. In the best-case scenario, the bank's experts say, the digital asset will stay in the range of $14,000-16,000 per coin. We have expected bitcoin to resume the downtrend for a long time. We saw it at $12,500 long before FTX collapsed and even lower afterwards. Despite an increase in risk sentiment that helped the euro and the pound to recover against the dollar, bitcoin is still at risk. Previously, bitcoin's main advantage was believed to be its decentralization and the lack of regulation from central banks. Now when the cryptocurrency is on the verge of a collapse, some stability and regulation would be a good thing ... In the 24-hour time frame, BTC quotes finally made a successful attempt to break through the mark of $18,500. In our view, the fall may now continue to $12,426. As expected, a breakout through the descending trend line was not the end of the bearish trend, as the price moved within the sideways channel at the same time. With the lower limit of this channel broken, the quote may continue falling. Relevance up to 13:00 2022-11-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/327302
The Analysis Of Off-Chain Metrics Allows Cryptocurrency Supporters To Count On A Reversal

According to Crypto Fund Research, cryptocurrency funds' losses may amount to $5bn because of FTX crash

Alex Kuptsikevich Alex Kuptsikevich 16.11.2022 15:05
Market picture Bitcoin is trading at around $16.8K with no significant changes overnight and in the consolidation area of the last five days. The panic sell-off appears to be over, with key stablecoins regaining their pegs. The market capitalisation stands at $847 billion (+0.2% overnight). Bitcoin is consolidating near the 23.6% retracement of the 5-10 November collapse. Failure to go higher indicates heavy selling pressure, suggesting a higher chance of losing 1k in value than going up by the same amount. This pattern suggests that if it fails under $15.6K (the low of the drop), the next target for the bears will be the 12K area. This is also where the 2019 cyclical highs and the August 2020 pivot area are located. News background The decline in HODLer balances does not indicate a widespread loss of confidence in bitcoin's prospects, Glassnode notes. However, miners have sold off almost 10% of their bitcoin holdings amid the collapse of FTX. Initial estimates by Crypto Fund Research suggest that cryptocurrency funds' losses due to the FTX bankruptcy could be as much as $5 billion, but final estimates could be much higher. The FTX bankruptcy led to a panic among crypto investors and a massive withdrawal of assets from centralised exchanges. Collectively, exchanges have lost more than $5bn in the past week. Binance CEO Changpeng Zhao and MicroStrategy founder Michael Saylor urged users to keep assets in cold wallets, especially during "market turbulence". Cryptocurrency holders are predominantly doing so, with hardware crypto-wallet providers Trezor and Ledger reporting multiple growths on their products. According to Citigroup, trading volume on decentralised exchanges soared 30% in November. Changpeng Zhao, head of Binance, proposed an association to bring together major players in the crypto industry to work with policymakers and regulators. He announced six critical requirements for centralised exchanges. The Bank for International Settlements (BIS) conducted a study on the motives of cryptocurrency investors. As it turned out, the main reason for investing in digital assets was lust for profit rather than distrust of traditional banks and government institutions.
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Bitcoin Is Showing A Potential For The Breakout Play

InstaForex Analysis InstaForex Analysis 17.11.2022 08:41
Technical analysis: BTC/USD has been trading sideways at the price of $16.600. BTC Is in the trading range and I see  potential for the breakout play. Trading recommendation: In case of the upside breakout of the resistance at $17.100, watch for buying opportunities with upside objective at $18.000 In case of the downside breakout of the support at $16.340, watch for selling opportunities with the downside objective at $15.800 Relevance up to 08:00 2022-11-18 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade Read more: https://www.instaforex.eu/forex_analysis/301377
Bitcoin is trying to resume its upward movement

The New Turmoil In The Cryptocurrency Market And The Lack Of Big Buyers

InstaForex Analysis InstaForex Analysis 17.11.2022 09:33
Crypto Industry News: The collapse of cryptocurrency exchange FTX has derailed an emerging positive outlook in cryptocurrency markets after significant deleveraging in May and June left few, if any, marginal sellers in the digital asset space. The new turmoil in the cryptocurrency market and the lack of big buyers have left the sector vulnerable, potentially extending an already long cryptocurrency winter. FTX insolvency proceedings will be closely monitored. However, for the digital asset sector, much depends on the path of US interest rates. It is highly likely that the market will see "side effects" from the collapse of FTX. It will be revealed who has borrowed or interacted with the exchange or its company, Alameda Research, and what those liabilities are. Poor liquidity could last at least until the end of the year and stablecoin dominance could rise to a very high 18% of total cryptocurrency market capitalization. That factor dropped to about $800 billion as of November 12. At the end of last month, the market capitalization was around $1 trillion. Technical Market Outlook: The volatility dried up after Bitcoin bounced from the swing lows located at the level of $15,555 and tested the technical support seen at $17,600. Moreover, the bulls retraced 38% of the whole sell-off and hit the level of $18,135 before the pull-back towards the sell-off lows was made. The market conditions on the H4 time frame chart are still oversold, however, no significant breakout has been made yet as the market keeps trading up and down in a whipsaw mode. The nearest technical resistance zone is seen at $17,600, $18,150 and $18,220. There is no indication of the down trend to terminate or reverse just yet as the market keeps trading in a relatively narrow range. Weekly Pivot Points: WR3 - $18,079 WR2 - $17,175 WR1 - $16,785 Weekly Pivot - $16,272 WS1 - $15,888 WS2 - $15,369 WS3 - $14,456 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 2022-11-18 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301385
Oanda Podcast: US Jobs Report, SVB Financial Fallout And More

Strong US Retail Sales | Crypto Contagion Continues

Swissquote Bank Swissquote Bank 17.11.2022 10:45
Better-than-expected US retail sales didn’t please investors yesterday, as it fueled, again, inflation expectations. Higher inflation expectations fueled the hawkish Federal Reserve (Fed) expectations. And hawkish Fed expectations fueled recession worries – without however Fed being there to disperse cheap money. Stock Market US indices gave back gains yesterday. The S&P500 slid 0.83% and Nasdaq fell 1.54%. Earnings Sour earnings from Target, which highlighted that nice-to-have stuff like clothes and electronics didn’t sell well in the latest quarter, because of rising prices, didn’t help lift the investor mood. US Elsewhere, JP Morgan economists said they expect the US to enter a mild recession next year because of the rising rates and the tightening monetary conditions. Global economy Prospect of slower global economy, along with the de-escalation of geopolitical tensions on news that the rockets that hit Poland this week were from the Ukrainian defense, and probably landed in Poland by accident, pulled oil prices lower yesterday. UK In the UK, the government will announce its much-expected budget today. It won’t be pretty for people, but it should be ok for investors. Crypto In cryptocurrencies, the knock-on effects of FTX collapse continue to be felt but Bitcoin price remains resilient near $16K. Watch the full episode to find out more! 0:00 Intro 0:31 Strong US retail sales dampen mood 1:22 Target disappointed 3:25 JP hinted at mild US recession, oil fell 5:44 UK Budget Day! 7:32 Crypto contagion continues, but Bitcoin resists 8:59 Gold hits long-term trend top Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #UK #Budget #US #retail #sales #Walmart #Target #earnings #USD #GBP #XAU #Bitcoin #FTX #BlockFi #Genesis #Gemini #contagion #selloff #crude #oil #recession #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
Bitcoin Is Showing The Potential For The Further Downside Rotation

BlockFi may file for bankruptcy. According to Coinbase, cryptocurrency winter may last longer

Alex Kuptsikevich Alex Kuptsikevich 17.11.2022 11:29
Cryptocurrency Fear and Greed Index shows "extreme fear" Bitcoin moved between $16.3K and $17.0K on Wednesday and is changing hands Thursday morning closer to the lower bound of yesterday's range. Some pressure on crypto comes from more wary financial markets, where major indices are down. The total capitalisation of the crypto market has fallen by 1.7% to $830bn in the last 24 hours. However, the overall quieter trading pattern should be noted after the surge in volatility in recent days. Crypto Fear and Greed Index was down 3 points to 20 by Thursday and remains in a state of "extreme fear". On the technical analysis side, Bitcoin's failure to cross $17.0K looks like a corrective rebound to lock in profits before a new round of declines. This scenario will only become main after the price approaches local lows near $15.8K, opening the way to $12K. Ethereum is under more pressure, forming a sequence of declining intraday extremes. At the current price near $1200, we can see the dam-breaking effect at levels below $1100. A similar pattern is seen in the overall cryptocurrency market capitalisation chart, where we see local reversals from lower levels. Pantera Capital's predicts a decline of Bitcoin price According to The Wall Street Journal, crypto lending platform BlockFi is preparing to file for bankruptcy. The company has acknowledged significant exposure to the FTX exchange. Last week BlockFi suspended customer withdrawals. The collapse of FTX affected too many companies, which could extend the crypto winter to the end of 2023, according to cryptocurrency exchange Coinbase. Many institutional funds are stuck on FTX, causing increased distrust in the industry. Stablecoins dominance has reached a new high of 18%. Bitcoin will fall heavily in November and hit "the bottom", forecasts Pantera Capital's crypto fund. BTC will then rise to $36,000 ahead of the next halving in March 2024 and continue to grow to a new record peak of $149,000. According to the average results of a survey conducted by BDC Consulting among 53 cryptocurrency executives, bitcoin will stop the decline at $11,479. Meanwhile, over half of top executives intend to increase their investments in cryptocurrencies and have no plans to cut back.
Bitcoin Is Showing A Good Sign For The Further Rise

Bitcoin: The Final Stage Of The Current Bear Market

InstaForex Analysis InstaForex Analysis 17.11.2022 14:17
The cryptocurrency market is going through the most volatile and difficult period of the current bear market. The FTX situation has become a catalyst for the mass withdrawal of funds from centralized crypto exchanges to "cold wallets." At the same time, the fear and greed index is near the level of 20, which did not correspond to the previous stages of the formation of the local bottom. In other words, the current situation has negatively affected investors' interest in the crypto market at a fundamental level. First of all, this affected long-term holders, who find it more profitable to store cryptocurrency on a "cold wallet." This is a negative event for BTC/USD quotes since the collapse of FTX gave the bears complete superiority in technical terms. Given the further weakening of the bulls' positions, we can assume that the bottom of the market hasn't yet formed. Cyclicity If we consider the current situation from a historical point of view, we will come to the conclusion that the market capitalization has already reached the local bottom of the last cycle, near the level of $730 billion. As of November 17, with Bitcoin trading below $18k, the market capitalization reaches $830 billion. This could mean another plunge to the bottom, where the market capitalization will update its low below $730 billion. The same goes for Bitcoin, whose downside potential reaches the $12k–$15k area. The historical context says that during previous bear markets, the price of BTC lost up to 85%. As of November 17, Bitcoin has lost 77% of its capitalization, which indicates the likelihood of a further fall. Forecasts Pantera Capital CEO Dan Morehead noted that Bitcoin is likely to update the local bottom in November, after which it will move to the stage of protracted consolidation. The entrepreneur argued that the bottom of BTC is formed in 477–480 days. The end of November is the end of this period, and therefore Bitcoin has time to update the local bottom. Recall that JPMorgan analysts also expect Bitcoin to fall to $13k–$15k. Adds fuel to the fire of the liquidity problems of Genesis and Gemini. Massive outflow of funds and panic threaten the existence of large crypto companies. Additional factors At the same time, active sales of BTC/USD to mining market players continue. More than 7,500 BTC coins were sold last week, and there is every reason to believe that sales this week will be even higher. Analysts at Morgan Stanley say that a real recession in the global economy will begin after the completion of rate hike cycles. Recall that the Fed saw progress in the fight against inflation but aren't yet ready to change policy. The peak rate was raised to 4.75%–5.25%. The preservation of the current monetary policy and the deteriorating situation with liquidity in the crypto market will have a negative impact on the prospects for the recovery of BTC/USD quotes. Given this, we should expect a long-term consolidation. It is also worth taking stock of the long history of the "relationship" between Bitcoin and the stock market. The obvious conclusion is that the correlation between cryptocurrencies and stock indicators was strengthening during the downward trend of the instruments. The current rally in stocks shows that the correlation with Bitcoin was a situational phenomenon. BTC/USD Analysis On the daily chart of Bitcoin, there is a gradual tightening of the price and the formation of a triangle pattern. This is fraught with a surge in volatility and a breakout of the price of the current range. At the same time, technical metrics continue to move boringly sideways. It is worth paying attention to market sentiment on the largest crypto exchange. In the futures market, long volumes reached 70%, which indicates that players believe in further price increases. A clear imbalance in favor of long positions may indicate a downward breakdown of the emerging triangle. Also, a divergence between the price movement and the RSI index is formed on the weekly chart. A similar pattern was formed during the 2015 bear market, and it marked the final formation of the local bottom. There is no need to talk about the identity of situations, since the pattern of 2022 has just begun to form. Results Bitcoin and the cryptocurrency market are entering the final stage of the current bear market. The macroeconomic situation and turmoil within the industry itself point to the likelihood of a final takeaway. The final target for the bears will be the $12k–$15.8k area, and it is likely that it will complete the phase of the current downward cycle.   Relevance up to 11:00 2022-11-18 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/327407
ByBit talks trading bots. What are they? How can they help?

Nayib Bukele, president of El Salvador announces country will buy one Bitcoin daily

FXStreet News FXStreet News 17.11.2022 16:02
Bitcoin price hints at 23% crash as bearish continuation pattern develops. El Salvador’s decision to accumulate BTC could sidestep this pessimistic fate. Invalidation of the bearish outlook will only occur if the big crypto flips $19,011 hurdle into support. Bitcoin price has been in a pickle since the start of 2022, be it the Terra-Luna debacle, Three Arrows Capital implosion or the latest collapse of the FTX exchange. Bullish news has been rare for the big crypto, or so we thought. Nayib Bukele, the president of El Salvador, announced earlier on Thursday that the Central American country will initiate a BTC buying program starting November 18. El Salvador helped Bitcoin reach all-time high last year El Salvador’s most relevant appearance in crypto headlines was when it accepted Bitcoin as a legal tender on September 2021. Due to the market conditions, Bitcoin price dropped 23% in the subsequent three weeks or so but rallied a whopping 70% soon thereafter and hit a new all-time high of $68,789 on November 10, 2021. If history were to repeat this time, a bullish outlook for the cryptocurrency ecosystem and Bitcoin could be around the corner. However, technicals do not seem to be as forgiving as one would expect and are forecasting a brutal sell-off. As a result, a minor bounce followed by a nosedive could be in the works for BTC. Bitcoin price and its bearish outlook Bitcoin price shows what everybody has been dreading, a bearish continuation pattern. This setup is known as a bearish pennant and contains a massive crash followed by a consolidation in the form of a symmetrical triangle. The target for this technical formation is obtained by measuring the 23% Bitcoin price crash noted between November 8 and 10 and adding it to the breakout point at $16,352. Although BTC has not breached the pennant to the downside, the target based on this measurement technique is $12,490. This target is definitely not a surprise considering our previous publications forecasting a macro bottom between $11,989 and $13,575. What may, however, catch traders off guard would be the buy-stop liquidity run above $17,200. Traders should prepare for a quick liquidity grab above the said level before any major move the downside begins. BTC/USDT 1-day chart Institutions announce their FTX losses one-by-one Adding credence to the bearish outlook is the Singapore's government-owned holding Temasek announcement on November 16 to write down its $275 million investment in FTX. Considering how big the now-defunct exchange was, more institutions are likely going to come out of the woodwork and could trigger another sell-off. Genesis’ lending division is also in trouble as it halted customer redemptions and new loan originations on November 16. This has caused widespread panic among investors, triggering a 3.5% downswing in Bitcoin price. As a safe play, investors and traders should consider withdrawing funds from centralized exchanges and look into self-custody to prevent the spread of the ongoing contagion. Regardless, the bearish outlook detailed above will only face invalidation if Bitcoin price produces a decisive flip of the highest trading volume level of 2022 at $19,011. In that case, a shift in the narrative could attract enough sidelined buyers to catalyze a bullish move to tag the $20,000 psychological level.
The G20 And IMF Are Already Preparing Their Crypto Regulation

Litecoin Acts As It Is The King Of The Cryptocurrencies World

InstaForex Analysis InstaForex Analysis 18.11.2022 08:45
Let's stay a bit longer with Litecoin, but this time we will view it versus the king of the crypto world Bitcoin. Litecoin vs Bitcoin bottomed in mid-June at 0.0017. That means on June 13, 2022, you would need 0,0017 bitcoin to buy 1 Litecoin. Today you would need 0.0037 which means a rise of more than 100% in Litecoin's favor. This is why we have focused on Litecoin rather than Bitcoin in the last few months. We think that Litecoin continues to have the upper hand and could after a temporary pause near 0.0041 see more upside towards the 0.0052 - 0.0056 area where we see strong resistance coming in. After a more prolonged consolidation below this area, a breakthrough wouldn't come as a surprise. We expect a continuation towards resistance near 0.0072 or close to a 400% rise in Litecoin over Bitcoin. So, for now, Litecoin may be one of the smaller cryptocurrencies, but it acts as it's the king of the crypto world right now. Relevance up to 07:00 2022-11-21 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301552
Bitcoin Has A Sign Of The Sideways Regime

Michael Burry (The Big Short) Believes It Is Time For Gold To Go Higher

InstaForex Analysis InstaForex Analysis 18.11.2022 09:03
Crypto Industry News: Michael Burry, known as "The Big Short", rarely gives interviews and does not comment on current events. This time it was different. Burry stated that he believes it is time for gold to go higher due to the risk of cryptocurrency contagion following the collapse of FTX. Burry, who runs the hedge fund Scion Asset Management, is known for finding the mortgage crisis early and making his fortune in the US housing bubble. In 2019, an investor also made millions buying GameStop shares, which happened long before Reddit acquired the shares. Burry rarely comments on gold events, which makes his current opinion much more unique to traders. According to him, the crypto chaos caused by the FTX saga sets the stage for gold nicely. Technical Market Outlook: The volatility dried up after Bitcoin bounced from the swing lows located at the level of $15,555 and tested the technical support seen at $17,600. Moreover, the bulls retraced 38% of the whole sell-off and hit the level of $18,135 before the pull-back towards the sell-off lows was made. The market conditions on the H4 time frame chart are still oversold, however, no significant breakout has been made yet as the market keeps trading up and down in a whipsaw mode. The nearest technical resistance zone is seen at $17,600, $18,150 and $18,220. There is no indication of the down trend to terminate or reverse just yet as the market keeps trading in a relatively narrow range. The market participants await for the breakout. Weekly Pivot Points: WR3 - $18,079 WR2 - $17,175 WR1 - $16,785 Weekly Pivot - $16,272 WS1 - $15,888 WS2 - $15,369 WS3 - $14,456 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 2022-11-19 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301586
ByBit talks trading bots. What are they? How can they help?

Everybody wants to know... why does Bitcoin have value

FXMAG Education FXMAG Education 18.11.2022 12:06
Fiat money, which is defined as a currency that is not backed by material goods and which derives its value from trust in the issuer, the word comes from Latin fides meaning faith. Hence, this is how all known currencies have worked since 1971, that is, from the moment when the dollar ceased to be convertible to gold. So where do cryptocurrencies get their value from? How much is Bitcoin worth and are skeptics of this market really right? I invite you to the next episode of the Best Course on Cryptocurrencies, in which we will look at the value of Bitcoin. The value of Bitcoin The saying “The price is what you pay. Value is what you get” is a famous quote from one of the world's greatest investors, Warren Buffett. So what do we get when we buy Bitcoin ? Unlike traditional fiat currencies, Bitcoin does not have a central bank and its structure is decentralized. Bitcoin is based on blockchain technology, which in short offers a high level of security, usability, but also copes with the transfer of value on a global scale. What is value? Why does money have value? As mentioned previously, value is based on trust, and the monetary system itself is based on a fractional reserve system. Which means that purely theoretically, currencies can be printed without restrictions, this is happening basically before our eyes. Discussions have been going on for a long time about whether the monetary system in which we operate will actually stand the test of time. In the world of cryptocurrencies , individual cryptocurrencies derive their value from different aspects. For example, when we find a cryptocurrency that is linked to gold, we have utility tokens whose value results from a specific service or project. We will look at the value of the most famous cryptocurrency, Bitcoin. However, we absolutely should not throw about assessing the value of individual cryptocurrencies only through the prism of the most famous one at the moment. Usability, decentralization, distribution, trust, scarcity and security are the features of Bitcoin that we will look at in more detail. The usefulness in terms of the function of money boils down to the ability to quickly transfer large amounts of value around the world, and in the case of Bitcoin (BTC), this is done without intermediaries. When it comes to BTC, the larger the amount we send, the more favorable the transaction costs will be for us. Bitcoin, of course, is not the only network that will enable such transactions, but it is still the largest, safest and most popular of the options. The value of Bitcoin lies in decentralization and the power of the network is all about the users, additionally basically anyone can help improve the network. No single node in the network can make decisions on behalf of everyone; transaction validation and protocol updates must include a group consensus. Hence, this factor protects Bitcoin from mismanagement and abuse. In general, however, the most important aspect is the lack of a single issuer who would have control over the entire network, as is the case with fiat currencies. Bitcoins size and distribution Features of Bitcoin that give it value is the distribution and size of the network, the more users, the greater the value and the greater the stability. Through distributing the transaction ledger among different users, there is no need to rely on a single source, and the security of a distributed database compared to a centralized one is indisputable. Bitcoins rarity Finally, we come to the next important point, which is rarity and precisely limited supply, there will only be 21,000,000 BTC tokens in Bitcoin and the last BTC will be mined in the year 2140. After the last coin is mined, this cryptocurrency will become even more deflationary. It is also worth referring to Bitcoins security, if you follow the best practices, your funds are extremely safe. Malicious attacks on the Bitcoin network require more than 51% of the current mining capacity, which is almost impossible and the probability of a successful attack on Bitcoin is extremely low, and even if it does happen, it will not last long. The only real threats are fraud and phishing attacks, loss of private key or keeping your funds in the wrong wallets. All these factors mean that we can confidently approach Bitcoin as a type of currency, the rest of the current currencies are primarily digital records, and the world will continue to move in this direction. Often, the argument against Bitcoin is the energy consumption that the network consumes. The truth is, however, that this data does not say anything at all, because we do not know and there is no official data on how much energy the current monetary system consumes, in addition we will have to wait for the resolution of this dispute, of course for official data. Of course, the features that affect the value of Bitcoin does not explain such rapid increases in the price of this cryptocurrency. The rest is similar with other assets, and in the case of the price of a given asset, what matters most is the forces of supply and demand. Bitcoin is a solid alternative to the monetary world we know. And we should not forget this.
Bitcoin Maintains A Steady Bullish Potential

How high are cryptocurrency outflows? Fear and Greed Index reaches 23

Alex Kuptsikevich Alex Kuptsikevich 18.11.2022 13:16
Market picture Bitcoin made another attempt to break above $17.0K on Friday morning but has so far been unable to overcome this strong resistance level, moving around $16.7K. The entire crypto market rose by $4bn to $834bn – a minor swing tempered by the moderately negative Nasdaq Index and a stronger dollar over the day. The cryptocurrency fear and greed index rose 3 points to 23 by Friday and remains in a state of "extreme fear". Lower market volatility drives the index up even if prices are not rising. At the same time, retail investors should be active. Under the smooth surface of a calm market, capital will likely continue to flow out, if not out of crypto-assets altogether, then out of crypto-related companies, drying up their liquidity. And one should be prepared for someone else to go broke shortly. Stablecoins lost a lot Investors continue to withdraw bitcoins from cryptocurrency exchanges. According to CoinGlass, cryptocurrency outflows have exceeded 220,000 BTC in the last ten days. JPMorgan is drawing attention to the declining capitalisation of Stablecoins, indicating that investors are leaving the crypto infrastructure. Over the past few months, the stablecoin market has lost an estimated $41 billion. Read next: Everybody wants to know... why does Bitcoin have value | FXMAG.COM El Salvador's President Nayib Bukele has decided to support bitcoin. El Salvador will buy one BTC every day from November 18. Tron founder Justin Sun joined Bukele’s initiative and will use the purchased BTC to back his stablecoin USDD. The US Congress has taken an interest in Binance's role in the FTX collapse. The impact of Binance CEO Changpeng Zhao's public statements on the FTX situation will be the focus of a hearing as early as December.
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

Cryptocurrency Market From Scratch - Blockchain

Kamila Szypuła Kamila Szypuła 19.11.2022 15:40
Investments in cryptocurrencies are gaining more and more popularity, but at the same time, more and more people are quickly alienated from them after suffering losses. A lot of these losses are due to poor knowledge of the market and too little knowledge about the cryptocurrencies themselves. It is worth getting to know the instrument in which you invest your hard-earned money, which is why we present a glossary of the most important terms related to cryptocurrencies. Blockchain - what is it? Blockchain, is a technology that is used to transmit and store information about online transactions, i.e. it is something like a digital ledger of transactions. This information is arranged in the form of successive blocks of data. One block contains information about a certain number of transactions, then after its saturation another block of data is created, and so on. Most blockchain networks are designed as a distributed and decentralized digital ledger. Simply put, a blockchain is a digital ledger that is basically an electronic version of a paper ledger and is responsible for recording the list of transactions that take place within the network. The first application of this technology was the launch of the bitcoin cryptocurrency twelve years ago, the value of which is based on computing power. Moreover, the terms blockchain and bitcoin have long been (incorrectly) used interchangeably. When entering the world of cryptocurrencies and blockchain technology, it is important to understand the differences between these terms. Bitcoin is the first cryptocurrency ever created, and by the way, it is also the most famous and media cryptocurrency. Available to everyone Blockchain allows anyone to “own” the entire database of the system, thereby creating a distributed and decentralized ledger. Thanks to this solution, it is impossible to modify data, remove or add false information. A good example is Wikipedia, which is known to everyone. We all have easy access to it, and every slightest trace of modification remains saved - with the difference that the "administrators" of the blockchain system are all its users at the same time. So you know exactly when, who and how the content on each subpage was modified. The whole strength of the system lies in the trust in the technology that is its engine. Moreover, it is not a secret algorithm stored somewhere in highly guarded server rooms in the USA, but in a completely open source code that can be analyzed and checked by absolutely anyone with an average knowledge of software development. The using Any type of transaction can be stored in blockchain technology. Currently, blockchain technology is used to handle various commercial and financial transactions, but they also support e.g. trade or the electricity market. In the last one, blockchain is used to settle energy purchase and sale transactions between its small producers, e.g. households, and their customers, energy recipients, as well as dispersed e.g. electric cars. These transactions can take place outside the system that has been functioning for centuries - without the participation of public trust institutions, directly between the parties to the transaction. Future of Blockchain Blockchain technology can play a huge role in the economy and contribute to the development of the economy. The financial industry was the first to recognize the potential of blockchain. In 2015, the R3 consortium was founded by banks and FinTech companies, whose goal is to develop blockchain technology. Stopping only on the financial application of blockchain technology, we can talk about an extraordinary solution that strongly revolutionizes the existing order established in the economy. The growing importance of the blockchain may lead to a redefinition of the concept of trust, which until now was based on the authority of the institution, and will now be based on the strength of the cryptographic algorithm used in the system. It is difficult to say unequivocally whether such optimistic moods related to the development of blockchain technology will turn out to be correct. Strengths and weaknesses Like everything, blockchain has its strengths and weaknesses. The advantages can include: Because data in the blockchain network is most often stored on thousands of devices as part of the so-called distributed network of nodes, the system and the data itself are highly resistant to technical failures and attacks. Once data is recorded on the blockchain, it is very difficult to remove it from it or change its values. It is thanks to this feature that blockchain is identified as a great technology for storing financial records or other data where transparency is required. Blockchain eliminates the need for so-called intermediary, because transaction verification is handled by a distributed network of nodes in a process called mining However, the decentralized nature of blockchain technology also brings some disadvantages. For example, compared to traditional centralized databases, blockchain networks have limited performance and require significantly more memory resources to function properly. Another disadvantage of blockchain systems is that once data is added to the blockchain, it is very difficult to modify it. While data durability is one of the benefits of blockchain, it doesn't always turn out to be a good thing. Despite the disadvantages, blockchain technology has some unique advantages and will definitely stay with us for longer. There is still a long way to go before both us and the entire blockchain community to finally adopt the technology to the so-called main stream. What is important, however, in an increasing number of industries, there is a noticeable increase in interest in technology and dealing with its advantages and disadvantages. The coming years will probably result in a large number of experiments on the part of both companies and governments. Source: Omid Malekan „The Story of the Blockchain: A Beginner's Guide to the Technology That Nobody Understands”, Daniel Drescher „Blockchain Basics: A Non-Technical Introduction in 25 Steps”
The Crypto Market Is Also Highly Volatile, So Drastic Price Swings Require Traders To Think Fast

Cryptocurrencies After Bitcoin - Altcoins And Meme Coins

Kamila Szypuła Kamila Szypuła 19.11.2022 16:33
Cryptocurrencies are certainly an area that has become increasingly popular in recent years. However, it requires some familiarity with new terms and understanding how the modern investment market in this industry works. Altcoin Definition At the very beginning, only Bitcoin was known as the first cryptocurrency in the world that was based on blockchain technology. But the question arises, what is an altcoin? It is primarily a term for an alternative coin, built from the combination of the English words alternative and coin. An altcoin is any new currency that was created after Bitcoin, even if it uses the same software. Altcoin vs Bitcoin Altcoins are referred to as cryptocurrencies or tokens - regardless of the name, they share similar keys used to transfer currency between owners' virtual wallets. Many types of altcoins are built on a similar system as Bitcoin, but each has distinctive features - some focus on improving features that Bitcoin was less than perfect. Altcoin is a lower value currency, which makes it perfect for smaller transactions. There is also a difference between Bitcoin and altcoin in terms of the number of cryptocurrency units in circulation or determining the maximum number of coins. More and more cryptocurrencies are becoming serious competition for Bitcoin, and Altcoins worth attention are primarily those that use ready-made platforms or create their own with a specific specificity. Thanks to this, several of the largest Altcoins stand out on the market, such as: Ether, Ripple and Litecoin. Memecoins What is it? Meme coins are cryptocurrencies inspired by memes or jokes on the Internet and social media. Meme coins are usually very volatile. They are mostly community driven and can go viral overnight with online community endorsements and FOMO. Still, their price may also drop unexpectedly as investors turn their attention to the next meme coin. Another feature of meme coins is that they often have a huge or unlimited supply. Since meme tokens generally do not have a coin-burning mechanism, the huge supply explains their relatively low prices. For just $1, you can buy millions of meme tokens. The first The first meme coin created was Dogecoin (DOGE). Released in 2013 as a parody, DOGE was inspired by the popular Doge meme, which is a Japanese Shiba Inu dog with a rather funny expression. Other meme coins Shiba Inus (SHIB) is DOGE's rival and is often referred to as the "Dogecoin Killer". The main difference between DOGE and SHIB is that the latter has a limited supply of 1 quadrillion tokens. Dogelon Mars (ELON) closely follows the dog duo in terms of popularity. As the name suggests, ELON is named after Tesla CEO Elon Musk and his passion for SpaceX. ELON is a fork of Dogecoin and has a supply of 557 trillion tokens in circulation. The risk As with all cryptocurrencies, trading and investing in meme coins involves high financial risk. Compared to BTC, most meme coins tend to be inflationary with no maximum supply. Their ecosystem, uses, and foundations are often defined by collective community jokes. Only a few meme coins have been built on big cryptocurrency technology. Another potential risk is that meme coins are heavily community-driven and more speculative than larger market cap cryptocurrencies. This instability constantly leads to unexpected ups and downs. The life cycle of meme coins is generally short-lived. FOMO Discussing meme coins, FOMO appeared as a factor affecting the situation of cryptocurrencies, but what is it? FOMO is short for "Fear of Missing Out", so it's also a psychological term. In practice, the FOMO phenomenon can be illustrated with a simple example in which you learn about a new coin with huge potential. Everyone is talking about it, and the media is starting to present it as the new Bitcoin. Everything indicates that its price will increase rapidly and rapidly, so in fear of missing out, you decide to buy it without much thought. This is FOMO, i.e. taking action not based on analysis and reason, but emotions related to the fear of missing the "opportunity". FOMO also can be a marketing strategy to use by creating investor fear of losing out as a way to encourage investors to act. Source: investing.com,
Non-Fungible Token (NFT) Is The Future Of Art?

Non-Fungible Token (NFT) Is The Future Of Art?

Kamila Szypuła Kamila Szypuła 20.11.2022 16:10
More and more often we hear about shockingly high sums for which someone has bid on the Internet for the right to a famous person's body part or artwork, or even a digital love. To peasant minds, paying huge amounts of money for something intangible and incomprehensible seems, to put it mildly, strange. NTF is shocking and gaining popularity. NFT market NFT exchanges are where art collectors, investors and cryptocurrency players connect. In recent years, non-exchangeable tokens have been dynamically increasing in value. So the group of people who want to earn on them is growing. What is non-fungible token? What is NFT? The abbreviation stands for non-fungible token, i.e. a non-fungible token. This tells us that we are dealing here with a unique, collector's asset, one of a kind. No wonder that it aroused the interest of investors who are ready to spend millions of dollars on NFT. NFT, as a digital asset that represents art, music, film, game items, virtual avatars and video game skins, even tweets, has been around since around 2014, however, it is currently experiencing a renaissance as it becomes more and more popular a way to buy and sell digital art. NFT can take many forms. It can be a JPG photo, gif, video, text file. It must have a digital record, which is a declaration, a certificate that a given file exists only in one copy. That the investor who decides to buy it will be its sole owner. Each token has a unique value, is not equal to another NFT token and cannot be copied. So they began to be used as proof of authenticity. Essentially, NFTs are like physical collectibles, only digital. NFT vs Crypto Tokens are sold and bought there most often in cryptocurrency. Behind NFT is blockchain technology, one of the biggest revolutions in the world of new technologies. The entire cryptocurrency market also operates on the basis of blockchain. However, this is where the similarities between NFT and cryptocurrencies end. One Bitcoin is always equal to another Bitcoin. NFTs are different. Each of them can have a different value. Each also has a unique digital signature that prevents NFTs from being exchanged or exchanged with each other. Hence the name "uninterchangeable". However, they can be sold on the secondary market. The opportunity for artists NFT is an opportunity mainly for artists. Platforms like OpenSea have become auction houses for them. Although they do not yet reach amounts close to the most expensive works of art sold, their digital paintings reach dizzying sums similar to those at real art auctions. Anyway, NFT has already entered the auction houses. According to Forbes, in 2021 alone, the NFT market was worth $41 billion. New NFTs entering the market can go up in value in a very short time, giving huge returns to investors. Prices keep going up. Constant demand will shape the price. However, with market dynamics comes investment risk. The future It is difficult to say unequivocally what use of NFT technology will be adopted in the long term. Its history is too short to evaluate it rationally. We can only speculate that it will contribute to the interest in the art market, it is worth emphasizing that the digital one is not accurate. Therefore, artists who create in a digital way can gain not only popularity but also in the form of finance. The risk Tokens are also highly susceptible to fashion, which can change from day to day. Other risks associated with the NFT market are fraud and theft risks. As NFT is a virtual asset, it often becomes a target for hackers, impersonators who exchanged and sold their works without the consent of the authors or dishonest operators of cryptocurrency exchanges. NFT And CO2 emissions NFT is experiencing its rebirth, it does not mean that participation in this market is right or moral. It is also worth mentioning the controversy and the dark side of the exchanges of non-tradable NFT tokens, which is very harmful to the environment. It is mainly about the appalling consumption of electricity, and thus - a large carbon footprint. Growing demand and transactions only lead to more CO2 emissions. Modern, capitalist techniques of generating wealth, such as Bitcoin or NFT, further deepen the problem of global warming, rising temperatures, extinction of species, etc. Statements about the harmfulness of blockchain technology are therefore gaining strength. For now, however, this does not affect the decline in the popularity of NFT, although its future is difficult to assess. NFT and copyright Buying NFT may mean buying the copyright to the song, but it doesn't have to be. Owning an NFT does not necessarily mean owning the rights to the original work. This can run the risk of being misled if the buyer buys NFT thinking they are acquiring the copyright to the original work, which legally is not the case because the seller did not specify it. Keep in mind that some NFT vendors sell them along with the copyright, while others only sell a digital certificate of ownership for a specific version of the work. Source: investopedia.com
Genesis Block Actually Started Liquidating Its Crypto Business

Genesis Block Actually Started Liquidating Its Crypto Business

InstaForex Analysis InstaForex Analysis 21.11.2022 09:03
Crypto Industry News: If not for the scandal and the collapse of FTX, things could have turned out favorably for the cryptographic companies from the Genesis group. But after the collapse of FTX, as investors face a shapeless void and darkness engulf the markets, they saw that things were bad, very bad. Genesis Block, Hong Kong's leading retail crypto operator, told customers on Friday morning that it plans to shut down its over-the-counter trading portal on December 10. The company also asked customers in emails to withdraw their funds and said no new customers would be accepted. Earlier this week, the CEO of Genesis Block told Reuters that they are no longer active in the crypto markets. "We stopped trading," said Wincent Hung, "We don't know which counterparties will fail next, so we'd prefer to close all our positions to regain some of our liquidity." According to the report, Genesis Block actually started liquidating its crypto business in Hong Kong before FTX filed for bankruptcy. One Genesis Block official was a director at FTX Hong Kong, but resigned from his position earlier in November, and Genesis Block cut all ties to the failed exchange shortly thereafter. Genesis Block once ran one of the largest Bitcoin ATM networks in Asia. ATMs are now operated by CoinHero after Genesis Block sold its ATM business in 2021. Technical Market Outlook: The Bitcoin bulls retraced 38% of the whole sell-off and hit the level of $18,135 before the pull-back towards the sell-off lows was made again. The market conditions on the H4 time frame chart are still oversold as the bears are clearly in control of this market. They managed to break below the intraday trend line support and are moving lower again. The target is seen at the sell-off low located at $15,550. The nearest technical resistance zone is seen at $17,600, $18,150 and $18,220. There is no indication of the down trend to terminate or reverse just yet as the market keeps trading in a relatively narrow range. The market participants await for the breakout. Weekly Pivot Points: WR3 - $16,881 WR2 - $16,477 WR1 - $16,299 Weekly Pivot - $16,072 WS1 - $15,895 WS2 - $15,667 WS3 - $15,263 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 2022-11-22 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301793
ECB's Tenth Consecutive Rate Hike: The Final Move in the Current Cycle

The Fed Needs A Significant Change In Inflation To Change Its Monetary Policy

Craig Erlam Craig Erlam 21.11.2022 11:45
The week is off to a relatively slow start, with Asia trading mostly in the red and Europe and the US poised to do the same. We don’t get many quiet weeks these days but this may turn out to be one of the few, with the US Thanksgiving bank holiday cutting the week short for many traders and the Fed minutes on Wednesday potentially weighing on activity beforehand. The recovery rally has stalled over the last week or so as Fed commentary has remained more hawkish than investors wanted. The rebound was also much stronger than is arguably warranted, with the Dow up almost 20% from its October lows. Policymakers appear keen to stress that one inflation number doesn’t make a trend and further evidence will be needed to justify a slower pace of tightening. While they will probably be quietly satisfied that inflation has turned a corner, there may also be a determination not to accept that publicly at the risk of undermining its tightening efforts until now. Another good report next month and the tone will almost certainly notably change. China stocks tumble as Covid cases rise The recent news has been less good from China, where surging Covid cases have wobbled markets just as we were seeing an improvement in sentiment. A slight relaxation of Covid restrictions and the prospect of more early next year, alongside a 16-point plan to boost the property market, had triggered a strong rebound in stocks in China and Hong Kong but that has been undermined by the recent surge and restrictions. Not only would fresh lockdowns in major cities take a sledgehammer to growth into year-end, but it could also complicate any plans that are being put in place to soften the zero-Covid policy next year. We’re back into uncertain territory which could slow the recovery in stock markets. Darker days ahead for crypto? The landscape is not getting any better for cryptos as we continue to learn more about the fallout from the FTX collapse. Bitcoin is off around 4% this morning, trading below $16,000 and looking very vulnerable. Another sharp drop looks very possible as sentiment in the space has been shredded. It could take some time for that to be repaired and the uncertainty that the FTX scandal has created is an enormous headwind for cryptos in the near term. At this point, I wouldn’t be surprised to see $10,000 tested again in the not-too-distant future. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Ethereum Climate Platform (ECP) launched, Reserve Bank of India making steps forward in currency digitalization

Crypto.com Accelerate the... Crypto.com Accelerate the... 21.11.2022 13:09
Grayscale Bitcoin Trust trading at new record discount. U.S. Fed FOMC minutes coming up this week. Weekly Market Index Last week’s crypto market prices were down slightly at -1.6%, while volume and volatility dropped significantly by -57.4%, and -73.9%, respectively.     News Highlights Shares of the Grayscale Bitcoin Trust (GBTC), the world’s largest publicly traded crypto fund, are trading at a new record discount of 43% relative to the price of the underlying Bitcoin (BTC), according to Coindesk. The Reserve Bank of India (RBI), the country’s central bank, is finalising the rollout of the retail digital rupee. Ethereum (ETH) software developer ConsenSys co-launched the Ethereum Climate Platform (ECP) at the 27th United Nations climate change conference (COP27). The platform will fund the development of “climate projects that can significantly mitigate greenhouse gas emissions and achieve decarbonization at scale.” Recent Research Reports     Argentina 2022 Survey: Argentines are Increasingly Keen to Adopt Cryptos and NFTs Research Roundup Newsletter [October 2022] Alpha Navigator (Oct 2022) Argentina 2022 Survey: Argentines are Increasingly Keen to Adopt Cryptos and NFTs: Crypto.com recently commissioned a survey of more than 2,000 Argentine citizens to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs. Here are the findings. Research Roundup Newsletter (October 2022): In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility. Alpha Navigator (October 2022): We look at asset class performance in October. Is the Fed pivoting on rate tightening policy? ETH’s short-term correlations with equities reducing. Catalyst Calendar         Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES MARKET PULSE Source: crypto.com
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Effects of the FTX crash may stay here longer. Nansen says the collapse was "directly linked to Terra's failure in May"

Alex Kuptsikevich Alex Kuptsikevich 21.11.2022 13:43
Market capitalisation down Bitcoin has lost 4% in the past 24 hours, once again testing the strength of the $16K area. Ethereum is down 7.8% overnight to $1120. Other leading altcoins in the top 10 were down 5.5% (BNB) to 10.6% (Dogecoin). Read next: NVIDIA (NVDA) Q3 earnings results outperformed part of the markets forecasts| FXMAG.COM Total cryptocurrency market capitalisation, according to CoinMarketCap, sank to $795bn, losing 4.9% overnight and 5.6% for the week. The cryptocurrency fear and greed index is down to 21 points by Monday versus 24 just over a week ago. Bitcoin failed to develop a rebound last week, facing an intensified sell-off near $17K and about 23.6% of the move down from 5 to 10 November. Such a weak rebound indicates solid bearish pressure, forcing us to expect another move towards the lower boundary at $15.8K. A consolidation below that level could start a new downside wave with a potential target of $12K. However, this is a very distant target, while round levels of $15K and $14K could be the intermediate ones. KPMG talks meta-universes Bitcoin's mining difficulty continues to increase, rewriting an all-time high. The falling price has resulted in the first cryptocurrency being mined at a loss on average. The falling price and high interest rates make us expect miner activity to drop and a subsequent decrease in difficulty. However, there could likely be a brief struggle for market share amongst miners: with bankruptcies and takeovers. This will be interesting. According to the Nansen report, the collapse of FTX was directly linked to Terra's failure in May. The unrealised loss of the "average" long-term bitcoin investor reached 33%, according to Glassnode's calculations. The impact of the FTX collapse will still be evident for the foreseeable future, according to a statement to investors from venture capital firm Multicoin Capital. Many players will cease to exist, putting pressure on the liquidity of the crypto market. Some major crypto exchanges have suspended accepting deposits and withdrawals in Stablecoins, which are hosted on the Solana blockchain. The decision was made due to Solana's association with the collapsed FTX exchange, which used the blockchain's power. The Australian unit of consultancy firm KPMG has said that meta-universes have the real potential to change many areas of life. In doing so, large companies will contribute to the technology's adoption.
Weekly Crypto Market Analysis by Geco.one – November 21st

Weekly Crypto Market Analysis by Geco.one – November 21st

Geco One Geco One 22.11.2022 08:38
Bitcoin (BTC) After the first half of November this year, Due to the panic sale caused by the collapse of FTX, the third largest cryptocurrency exchange in the world, Bitcoin has stabilized in the last few days in the range between $16,000 and $17,000. However, there are many indications that this is only a form of correction, after which the quotations of the oldest virtual currencies could return downward. One must remember that the BTC exchange rate has been in a downward trend for over a year, and this trend has stayed the same at any time. Therefore, from a purely technical point of view, there is no reason to forecast a more significant rebound. In addition, it is also worth noting that the last fall was highly dynamic, which may indicate that it was an impulsive move. At the same time, the rebound observed for several days is exceptionally calm, which suggests that it is only a form of another correction. Given all this, the bankruptcy of FTX has already been officially announced. As a result, its further negative impact on the cryptocurrency market may be limited; the scale of bankruptcies of subsequent companies associated with this exchange will be of crucial importance. There is already talk that the BlockFi cryptocurrency lending platform is preparing for potential bankruptcy after the collapse of FTX, and there may even be over 150 similar companies. So it is far too early to open the champagne and announce another bull market. In practice, there is still a high probability of further sales of BTC and the vast majority of cryptocurrency projects. According to the popular opinion that "after every storm, the sun comes out", and just like in previous years, when after each of the previous bubble bursts, the cryptocurrency market returned to the path of growth, breaking new ATH, one can expect that this time it will be similar. However, we'll have to wait a little longer for that. Several factors may account for this: First, every topic, including every problem, becomes commonplace, and the financial markets pass over it daily. This was the case with the collapse of Mt.Gox in 2014 (the largest cryptocurrency exchange in the world at that time) or QuadrigaCX in 2019 (the largest cryptocurrency exchange in Canada, about which Netflix even made a documentary). Second, the Federal Reserve is nearing the end of its monetary policy tightening cycle. While Fed interest rates are likely to remain high for most or even all of 2023, in 2024, the Fed is likely to embark on an easing cycle that, like in 2020, could contribute to the growth rally on risky assets such as stocks or cryptocurrencies. Ethereum (ETH) Ethereum's quotations fell between November 4 and 9 by over 36%, and then, driven by a highly optimistic report on CPI inflation in the US, they rebounded by almost 26%, thus leading to a re-test of the previously defeated support. However, this increase lasted only one day, from November 11 this year. The ETH rate is falling again. If this trend continues - and there are many indications that it does - the price of this cryptocurrency could fall to around USD 1,000 in the near future. Only there is another valuable support in the vicinity of which a more significant demand response could appear. Bitcoin Cash (BCH) Bitcoin Cash fell by nearly 31% between November 5 and November 9, falling to the lowest level since December 2018. Similarly to BTC and ETH, in reaction to the US CPI inflation report published on November 10, it went up by over 22%. It is noteworthy that this rally led to a re-test of the previously broken support (now resistance) of $106 and measured a 50% Fibonacci correction from the earlier downward impulse, where the BCH rate has been holding until now. However, considering the supply reactions that have appeared in the area of ​​the currently tested resistance, it seems highly likely that this zone will be rejected soon, which in turn could initiate another downward impulse towards the recent lows or even lower. Litecoin (LTC) Litecoin's quotations collapsed between November 7 and 9 this year by more than 35%. This sell-off stopped only in ​​technical support, around USD 50, where apparent demand pressure appeared on November 10. As a result of subsequent increases, the LTC exchange rate returned to the area of ​​previously defeated support (now resistance) around USD 64.50, where supply pressure reappeared last Sunday. If this resistance is rejected, the price of this cryptocurrency could fall back to around USD 50 or even fall to USD 43. Polygon (MATIC) After bouncing off the $1.30 technical resistance, the Polygon (MATIC) cryptocurrency fell more than 41% between November 5 and November 9. Although on November 10, the cryptocurrency made up for it. While the majority of these losses increased by over 52%, today, it is again listed at the levels from November 9. It is noteworthy that the MATIC exchange rate slipped below the local uptrend line last Sunday, which could drive further sell-off towards USD 0.70, USD 0.61 or USD 0.45. XRP XRP fell between November 5 and November 9 by more than 38%. This sell-off led to the breaking of two horizontal support levels at USD 0.4450 and USD 0.3950, respectively, and stopped only at the next significant level, around USD 0.32, where an apparent demand reaction appeared on November 10. Since then, the XRP price has alternately fallen and increased, staying at USD 0.32 to USD 0.3950. Therefore, taking into account its rebound from the upper limit of this range, observed last Sunday, we could expect another drop towards USD 0.32 in the coming days or possibly even to USD 0.30, where the next support level is located. Binance Coin (BNB) Looking at the Binance Coin quotes, we will notice that the price of this cryptocurrency has fallen by almost 36% since November 8. Such a significant depreciation meant that we are currently witnessing an attempt to break the technical support of USD 260. If the BNB rate permanently drops below this level, we could expect it to depreciate towards USD 244 or even USD 214 soon.
In Crypto, You Could Prove You Own A Private Key Without Revealing It

Stress In Crypto Market Continue | Global Recession Fears

Swissquote Bank Swissquote Bank 22.11.2022 10:30
Market sentiment is fragile on uncertainty regarding whether China would make a U-turn on its Covid reopening plans. Oil Recession fears were already weighing on fragilized oil on Monday morning, when news that OPEC+ would increase oil production by half a million barrels per day on the upcoming December 4th meeting wreaked havoc yesterday. The barrel of US crude tanked to $75 per barrel, below the September dip. Later, Saudi denied the report and we are back to $80 this morning. Forex In the FX, the US dollar index bounced higher after getting very close to the 38.2% retracement level on 2021-2022 rally, and mixed Fed comments tilt the balance to the upside for the greenback. Cryto In cryptocurrencies, news that Genesis warned investors that it could file for bankruptcy further weighed on sector sentiment. Watch the full episode to find out more! 0:00 Intro 0:22 China Covid worries fuel global recession fears 1:53 Oil dips on China worries, OPEC rumour 3:57 US dollar gains, equities fall 5:14 Should you sell Tesla because you don’t like Elon Musk? 7:39 Disney up as ex-CEO returns 8:30 Bitcoin slips below $16K on FTX contagion, Genesis warning Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Twitter #Tesla #Elon #Musk #China #Covid #selloff #crude #oil #EUR #USD #hawkish #Fed #FTX #contagion #Genesis #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
Technical Outlook Of The Further Movement Of Bitcoin

The Bitcoin (BTC/USD) Has Made A New Yearly Low

InstaForex Analysis InstaForex Analysis 22.11.2022 10:52
Crypto Industry News: Grayscale has announced that it does not intend to join the recently popular trend of disclosing its cryptocurrency resources to large entities. Representatives said it wouldn't be the safest. Especially many stock exchanges have recently decided to take this step to reassure their investors, as trust in centralized exchanges has recently deteriorated as a result of the bankruptcy of FTX (FTX, FTX.US, Alameda Research) founded by Sam Bankman-Fried. After recent events, many investors feel the need to receive confirmation from an external auditor that their funds are safe in the hands of one of the large entities of the cryptocurrency market. One algorithm to prove this is the use of Merkle Trees, which captures data and obtains a set of "fingerprints" to allow users to verify that their funds have been properly screened by a third party. This method has been very popular recently, especially after the events related to the collapse of the FTX exchange. Technical Market Outlook: The BTC/USD pair has made a new yearly low at the level of $15,477 as the bearish pressure is still strong. There is no indication of the down trend on Bitcoin to terminate or reverse, so the next target for bears is seen at the level of $13,563 (2019 high). The nearest technical resistance is located at $16,201 ( trend line resistance level). The momentum remains weak and negative despite the extremely oversold market conditions. Weekly Pivot Points: WR3 - $16,881 WR2 - $16,477 WR1 - $16,299 Weekly Pivot - $16,072 WS1 - $15,895 WS2 - $15,667 WS3 - $15,263 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-11-23 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302008
The G20 And IMF Are Already Preparing Their Crypto Regulation

The Crypto Market Capitalisation Has Gone Sharply Down

Alex Kuptsikevich Alex Kuptsikevich 22.11.2022 12:22
Outlook Of Crypto Market Bitcoin went below 15,500 at the end of the day on Monday, rewriting two-year lows, and slightly retreated from those extremes by the start of trading in Europe, trading around 15,700 (-2% in 24 hours). Ethereum is updating lows from July at the time of writing, falling to $1072 (+3.5% in 24 hours). The crypto market capitalisation is down 1.75% overnight to $782bn, its lowest since January 2021. Although this indicator is very tentative and synthetic, we have seen a tug-of-war around $1 trillion for a long time. For a while, the market lingered near levels just above 830 - the high at the peak in January 2018. Now another belief that the previous peak of the last cycle would work as insurmountable support has been broken. The crypto market capitalisation has gone sharply down, failing to develop an offensive above its 200-week average by early November. The 200-week (4-year) period is consistent with the notion of cycles in crypto, and the situation now looks like the exit of leveraged speculators who thought crypto had bottomed out in June-October. Although we believe that squeezing the weak hands out of the sector is almost complete, we are now seeing nothing more than speculators deleveraging, which is generally healing the market. Technical analysis suggests capitalisation could fall as much as 400-450bn, nullifying the rally, before returning to growth. However, this technical picture looks excessively pessimistic, and the stingiest speculators might not wait for that entry point, as is often the case in the markets.   Possible problems at another major company According to CoinShares, investments in cryptocurrencies rose by $44m last week against inflows of $42m the week before. Bitcoin investments rose by $14m, while Ethereum fell by $1m. Investments in funds that allow shorts on bitcoin increased by $18m, while shorts on ETH increased by a record $14m. Inflows to "short" products were 75% of the total, suggesting a deeply negative sentiment amid the FTX collapse, CoinShares noted. According to IntoTheBlock, the share of unprofitable bitcoin addresses exceeded 51% (24.56 million addresses out of 47.85 million BTC holders). The last time a similar situation was observed was after the market crash in March 2020. Rumours have emerged in the cryptocurrency community about possible problems at another major company. The failure of digital asset manager Grayscale Investments to disclose reserves and the suspension of crypto lending operations by OTC platform Genesis Trading have raised concerns about the entire Digital Currency Group (DCG) sustainability. According to experts, the collapse of Grayscale would be more severe than the collapse of Three Arrows Capital.
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

The Bitcoin's Bears Managed To Take Full Control

InstaForex Analysis InstaForex Analysis 22.11.2022 14:05
The increase in trading activity after the downturn over the weekend played a cruel joke on Bitcoin and cryptocurrency prices. Investor sentiment remains decadent, which directly affects the movement of cryptocurrency prices. At the end of November 21, Bitcoin price slightly updated the local bottom below $15.7k. This process was accompanied by a surge in trading volumes, which, for the most part, were aimed at selling BTC coins. And despite the visual update of the local bottom, psychologically, the market is ready to see the cryptocurrency lower. Total fear in the market As of November 22, about 51.7% of addresses in the BTC network are at a loss. Recall that at the peak of past crises, this figure dropped to 55% in 2019 and up to 62% in 2015. Despite a clear downward trend, there is every reason to believe that the loss ratio will increase. Last week, CoinShares recorded an inflow of $44 million into crypto funds. The catch is that more than 75% of the investments went into "short" crypto funds or products. This points to the complete dominance of bearish sentiment in the market. Meanwhile, the Grayscale Bitcoin Trust story got a follow-up. Coinbase Custody published GBT reserves and reassured investors by confirming the company's solvency. CC representatives also noted that all Grayscale assets are safe from misuse. At the same time, the situation of the Genesis crypto broker risks becoming another "black swan" of the current crisis. Binance turned down the opportunity to acquire Genesis, making matters worse. Genesis management said it is continuing to negotiate a $500 million investment in the company. However, management does not rule out the possibility of filing for bankruptcy. The market is in a state of permanent fear and despair, and therefore any negative statements are perceived especially painfully. The Genesis announcement came last night ahead of the local Bitcoin bottom update. BTC/USD Analysis The bears managed to take full control of the situation and push the BTC/USD quotes below the $15.8k support level. As of writing, Bitcoin continues to trade near the $15.7k level, below a key support zone. If the situation does not radically change in the next 24 hours, then we expect a further fall. A strong support area at $14.3k–$14.8k will be the main target for the bears. However, in the current situation, the fall could be deeper and uncontrolled. Bitcoin's calm below $16k indicates a total fear and reluctance to buy back the bottom. Miner pressure, the macroeconomic crisis, institutional distrust and the threat of bankruptcy of Genesis, Gemini and a number of other companies are forcing investors to expect BTC to be much lower. In the current situation, technical analysis fades into the background, and psychology becomes the main driving force of the market. The market believes that the combination of the above factors can provoke a deeper fall in Bitcoin. Possible targets include the $14.2k, $14k and $13.1k levels, where buyers could start a massive buyout. Results In any case, it is important to understand that this is the final plunge of BTC, which should end with a similar V-shaped pullback. It is the formation of a similar pattern of mass buyer activation that will indicate the final achievement of the bottom.   Relevance up to 11:00 2022-11-23 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/327798
The G20 And IMF Are Already Preparing Their Crypto Regulation

Crypto: DCG's Grayscale Bitcoin Trust Might Be Under Attack

Swissquote Bank Swissquote Bank 22.11.2022 14:12
After the FTX crisis, we could potentially see the next crisis incoming: DCG's Grayscale Bitcoin Trust might be under attack, due to liquidity problems from the sister company. Could this be the end for GBTC? 00:00 Intro 00:19 Preview 00:41 FTX bankruptcy 03:13 Bitcoin 08:14 Ethereum 09:43 Ripple 11:40 Solana 14:23 Subscribe & Good bye #crypto #cryptonews #cryptotrading #swissquote ___  Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
The Special Edition Of The Saxo Market Call Podcast: The Wild Year Of 2022 For Commodities And What May Be In Store In 2023

Craig Erlam calls effects of the FTX crash "uncovered". Saudi Arabia confirms OPEC+ won't increase output in December

Craig Erlam Craig Erlam 22.11.2022 23:16
As was to be expected, it’s been a choppy week so far in financial markets with Europe a very mixed bag on Tuesday while US futures are marginally higher after making marginal losses on Monday. On the one hand, we could be seeing investors warily waiting for the FOMC minutes and taking in all of the speeches from various Fed officials in the meantime. On the other, this week may just be a void in an otherwise turbulent year thanks to a lack of major catalysts and the US Thanksgiving bank holiday at the end of the week. Read next: OPEC+ reject reports of increased output. Crude oil up| FXMAG.COM Saudi Arabia has gone some way to filling that void, with so much attention now likely to be on the Gulf over the coming weeks. It goes without saying that it came as quite a shock as everything unfolded as it wasn’t what anyone was expecting, quite the opposite in fact. And it could have a major impact on the outcome next month. But the 2-1 win over one of the tournament favourites, Argentina, was a monumental victory and undoubtedly one of the biggest shocks in World Cup history. It’s blown Group C wide open and cast serious doubt over whether Lionel Messi will ever get his hands on the trophy. In other news, Saudi Arabia also rejected reports that OPEC+ is considering increasing output on 4 December. Another dead cat bounce? Bitcoin is trading higher on Tuesday, but for how long? The knock-on effects of the FTX collapse are still being uncovered, with more names being added to the exposure list every day. Confidence in the markets has been shattered and it may take time to rebuild. There remains considerable uncertainty around the full consequences of the FTX collapse and as long as that remains the case, any rallies we see in cryptos may simply become dead cat bounces, as opposed to market bottoms. The latest occurred around $15,500, where it rebounded off a couple of weeks ago, and a break of this could trigger another sharp decline. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Filling the void - MarketPulseMarketPulse
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

History of Bitcoin - a dive into the history of the first cryptocurrency

FXMAG Education FXMAG Education 22.11.2022 23:41
Bitcoin is undoubtedly the most famous cryptocurrency in the world. Some treat it like digital gold, others see it as a way to solve the problems that plague modern payment methods, and even the entire monetary system. Why was it created? What is its history? What does it have to do with spam and pizza?   In August 2008, the bitcoin.com domain was registered Two months later, on October 31, 2008, a paper titled "Bitcoin - an electronic peer-to-peer payment system" was published. The author of this work was Satoshi Nakamoto, a legendary figure and to this day extremely mysterious. The document created by Nakamoto contains the most important assumptions about Bitcoin. The author wrote about the need to create an electronic system that would be based on cryptography, not trust, and would allow transactions to be carried out without the need to confirm them with trusted third parties. It is worth paying attention to the surroundings and the time in which this manifesto was created In 2007, the financial crisis literally spilled over the world, which greatly increased the aversion to the traditional monetary system. The problems were literally printed, and hardly any institution suffered specific consequences resulting from earlier actions. However, this was not the first time someone realized that the traditional system was flawed.   The first foundations of the technology behind Bitcoin were created in the early 1980s. We owe the foundation to David Chaum, a cryptographer. Chaum saw the risk of moving around the web and wanted to ensure the anonymity of Internet users. He described the whole concept in 1982 in the work "Invisible signatures for untracked payments". Chaum emphasized that the data collected by banks and intermediaries may be dangerous in the future! Hence, his system ensured anonymous transactions. Why did Chaum's idea fail in the 1980s despite interest from Visa, Microsoft and Germany's Deutsche Bank? His tool was not immune to the so-called “double spending” by exploiting the vulnerabilities in the code; two separate transactions could be made using the same funds. Another innovator was Adam Back , who introduced the hashcash system, which aimed to reduce mass emailing (spam is one of the first plagues of the Internet). The technology itself was unrelated to banking, but its elements heavily helped Nakamoto create Bitocin . Speaking of Bitcoin, it is impossible not to mention the Cypherpunk movement, which operated in the 90s. Its members were cryptologists, and how could it be otherwise with liberal views. Their discussions and works were also an important building block in the later activities of Nakamoto himself. On January 3, 2009, 30,000 lines of code were written, and Satoshi Nakamoto mined the first Bitcoin block, called the Genesis Block. Satoshi Nakamoto wasn't the only person working on Bitcoin An early enthusiast of this cryptocurrency was Hal Finney, a member of the cyberpunk movement. Finney was literally fascinated by the idea of a decentralized internet currency. When Nakamoto announced that he was releasing bitcoin software, Finney declared that he would mine the first bitcoins - these were the first 10 coins that Satoshi sent as part of the test. Finney was not only an enthusiast, but also a successful programmer, in 2004 he designed a high-use proof-of-work that required some computational work to be done by the service requester - It was supposed to protect computer systems against DoS attacks. Hal Finney died in 2014 and according to the information provided to the media, he did not know who Satoshi was until the end. The creator of Bitcoin is shrouded in mystery. In Wikipedia, we can find several different theories as to who hides behind this pseudonym . This includes, for example, Elon Musk , but it must be admitted that this is a far-fetched theory. What do we really know about the creator of Bitcoin ? Nakamoto has written nearly 80,000 words about Bitcoin in 2 years and there are many indications that he is a native English speaker, and maybe even British. Usually his posts/comments appeared when it was daytime in the UK. There is also no shortage of evidence that he was an American. Either way, we'll probably never know. The first real Bitcoin rate was determined based on the cost of its mining. It was exactly on October 5, 2009. One US dollar could buy 1309 BTC . As you well know, the roles have reversed.   In 2010, there were several places where bitcoin was accepted Given the rapid price increases of Bitcoin, there is no shortage of stories and memes related to the first transactions made with this cryptocurrency, one of the most popular by far is the transaction that was made when buying a pizza, which was agreed to by one of the first Bitcoin users - Laszlo Hanyecz . Purchased 2 pizzas at Papa John's for ... 10,000 BTC. The transaction took place on May 22, 2010 - In 2021, these Bitcoins were worth almost $700 million Admittedly, this is a significant opportunity cost. The amount is very impressive, but it must be added that since then the price of Bitcoin has fallen significantly, and Leszno himself has been waiting for a willing transaction for 4 days! In July 2010, the cryptocurrency exchange platform MT Gox was launched Which for several good years was the market leader. A year later, the Silk Road platform, where you could buy illegal drugs, was launched, and Bitcoin became its main form of payment. This, of course, did not generate good PR for the cryptocurrency, which was and still is to be an alternative to the current monetary system. 2 years after the first bitcoins were mined Satoshi Nakamoto disappeared from the network. On April 23, 2011, he sent a short e-mail to a bitcoin developer saying that he was going to do something else and that he was leaving bitcoin in good hands.   Why did Satoshi Nakamoto let go ? It is possible that he was convinced by the stories of other creators of alternative currencies. In 1998, Bernard von NotHaus, a native of Hawaii, created a currency called the Liberty Dollar, he was charged with breaking the law and sentenced to six months of house arrest. 9 years later, one of the first E-Gold digital currencies was liquidated in an atmosphere of suspicion of money laundering. Either way, Nakamoto 's voice is literally missing.   One of the largest transactions that made an impression a few years ago was the purchase of bitcoin worth 10 million dollars by the Winklevoss brothers. This investment tripled after just 12 months, if only the Winklevoss brothers wanted to monetize their investments, they could do it with the Bitomat, which was built in Vancouer in 2013! Although, from a practical point of view, it might be difficult to do. The same year also saw the creation of Grayscale 's first investment fund , which focuses on cryptocurrency investments. In 8 years, this fund has raised over USD 38 billion from investors. In 2014, the Mt. Gox At the time of the attack, the Tokyo-based exchange was the largest in the market, with a trading volume of 70% of the total Bitcoin supply . The following years saw the ever stronger penetration of Bitcoin into the awareness of not only investors, but also average citizens. With the rest of the fortunes that were created along with the development of this market could not go unnoticed. Is it worth paying attention to these types of messages? Definitely yes. Most often, very positive news may be associated with a local top in the quotations of this cryptocurrency that raises flushes on the face .   Bitcoins Timeline 1982 - David Chaum creates the " Invisible Signatures for Untracked Payments" project 1990's - Adam Back creates the hashcash system 08.2009 - registration of the bitcoin.com domain 03.01.2009 – The birth of the blockchain and the creation of the first block called “ genesis ”. 01/12/2009 – The first transaction on the bitcoin network 05.10.2009 – Determination of the first exchange rate bitcoin exchange - Bitcoin Market 05/22/2010 – First use of bitcoin as a currency bitcoin exchange - Mt.Gox – The beginning of mining on graphics cards bitcoin mine Slush's Pool 08.12.2010 – The first transaction using a mobile phone 01/28/2011 – 25% of all possible bitcoins mined 02/09/2011 – One bitcoin reaches $1 04.04.2011 – Beta tests of the first Polish stock exchange bitomat.pl April 16, 2011 - First article about bitcoin in serious media - TIME - "Online Cash Bitcoin Could Challenge Governments, Banks" April 14, 2011 - WikiLeaks accepts bitcoin 08/26/2011 – Fall of the Polish exchange bitomat.pl – 17,000 BTC lost bitcoin and World Expo conference in New York 09/23/2011 – P2Pool is established The collapse of the large TradeHill exchange – Fall of the Bitcoinica platform 06.2012 – Coinbase is established – WordPress.com accepts bitcoin 28/11/2012 – Drop in block reward from 50 to 25 BTC March 12, 2013 - Hard Forks blockchain 03/18/2013 – The first attempt to regulate bitcoin by FinCEN (USA) bitcoin ATM 07.2013 - Billionaire Winklevoss brothers enter bitcoin 09.09.2013 – Bitcoin ticker on Bloomberg 20/09/2013 - Bitcoin recognized as fully-fledged private money in Germany 11/19/2013 - Bitcoin surpasses Western Union in terms of the amount of funds sent 2013-11-21 – First university (Cyprus) accepts bitcoin 2013-11-22 - Tickets for space travel for bitcoins – Beginning of the ban bitcoin in china 03/25/2013 – Denmark exempts bitcoin trading 02/28/2014 – Fall of the largest bitcoin exchange – Mt.Gox 01/08/2017 – First BTC hard fork and creation of Bitcoin Cash (BCH) 2017-10-24 – Second hard fork of BTC i rise of Bitcoin Gold (BTG) Bitcoin futures contracts on the CME exchange 14/04/2021 - Debut Coinbase exchange on Wall Street   Source materials: https://businessinsider.com.pl/gielda/kursy-walut/tym-jest-bitcoin-kto-go-created/r3ernvq https://www.csmonitor.com/Business/2014/0218/Bitcoin-ATM-debuts-in-the-US-What-you-need-to-know https://comparic.pl/historia-bitcoin/
Litecoin Finally Saw A Deeper Corrective Decline

Litecoin Is About To Double Its Value Against Bitcoin

InstaForex Analysis InstaForex Analysis 23.11.2022 08:36
On November 18, we showed a chart of Litecoin vs Bitcoin and called for much more upside once a temporary correction was complete. After a decline to support at 0.00396, we have seen a strong rally higher. So, much more upside progress is expected in the weeks ahead as Litecoin continues to move higher towards 0.00520 and likely into resistance near 0.006286 and possibly near 0.00696 which means that Litecoin is about to double its value against Bitcoin. In the longer term, we could see Litecoin continue to outperform Bitcoin as Litcoin approaches 0.0200. Relevance up to 06:00 2022-11-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302144
Bitcoin Is Showing A Good Sign For The Further Rise

JP Morgan Chase Received A License For Its Digital Wallet Brand

InstaForex Analysis InstaForex Analysis 23.11.2022 09:38
Crypto Industry News: While the market is sinking in losses and more and more investors are almost certain of drops to around USD 10,000, the largest bank in the United States, JP Morgan Chase, received a license for its digital wallet brand - the Crypto Wallet Trademark from the U.S. Patent and Trademark Office yesterday. The bank's new brand will be able to be used for services related to cryptocurrencies, financial transactions and digital assets. JP Morgan has registered a trademark for a digital wallet and related cryptocurrency processing services. According to a filing in the U.S. Patent and Trademark Office, the bank filed a trademark for "JP Morgan Wallet" in July 2020, the application was finally approved on November 15, and today information about its acceptance has circulated on the market. The trademark text indicates that it can be used for online services, including cryptocurrency payment processing, electronic transfer of virtual currencies by the online community and exchange of virtual currencies. By registering the service, the bank seems to be opening up to the world of the Metaverse. JP Morgan analysts have pointed out many times before that it is virtual worlds that will become a place where the adoption of cryptocurrencies will accelerate and where they will become the currencies of virtual economies. Technical Market Outlook: The BTC/USD pair has made a new yearly low at the level of $15,477 as the bearish pressure is still strong. There is no indication of the down trend on Bitcoin to terminate or reverse, so the next target for bears is seen at the level of $13,563 (2019 high). The bulls are trying to bounce and they broke above the local trend line already ( $16,201is the trend line resistance level), the next technical resistance is seen at $17,103. The momentum bounces from the extremely oversold market conditions as well and is currently positive, so the bounce might extend higher. Weekly Pivot Points: WR3 - $16,881 WR2 - $16,477 WR1 - $16,299 Weekly Pivot - $16,072 WS1 - $15,895 WS2 - $15,667 WS3 - $15,263 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 2022-11-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302172
Key Economic Events and Earnings Reports to Watch in US, Eurozone, and UK Next Week

OECD: The Global economy Will Not Stop Into Recession This Year

Swissquote Bank Swissquote Bank 23.11.2022 10:27
The OECD said the global economy will avoid a recession this year, and next year, and that unemployment rates won’t skyrocket. That was the good news. But growth will be low and slow, and inflation will remain high, keeping central bank policies tight. That was the bad news. Stocks The S&P500 gained, as strong earnings from retailers improved sentiment before Thanksgiving. Energy stocks performed well on the back of a sustained recovery in crude oil. Shell rallied 5% on announcement that the company will be reviewing its investment in the UK to avoid paying windfall taxes to the British government. BP rallied 6.52%. Central Banks In central bank news, the Reserve Bank of New Zealand (RBNZ) raised its rates by 75bp as expected today. The US dollar softened, and the EURUSD rebounded past 1.0320 in the middle of mixed comments about what the European Central Bank (ECB) should do at its next meeting. Gold In precious metals, gold slid yesterday despite a softer US dollar, and softer yields. China In China, stocks were not looking good as Beijing and Shanghai put stricter rules to slow the Covid contagion, again! But Alibaba rebounded almost 4% in HK today, on news that Ant Group would pay a fine over a billion USD. Crypto In cryptocurrencies, traders remain on the edge, on news that a ‘substantial amount’ of FTX assets have either been stolen or are missing. Bitcoin however resists. The price of a coin recovered above $16K yesterday, but risks remain tilted to the downside. Watch the full episode to find out more! 0:00 Intro 0:30 OECD says no recession, slow growth but not for UK! 1:45 Market update 2:52 Oil, natural gas up 4:41 Goodbye Shell! 6:15 EUR traders expect softer Dec rate hike 8:00 Gold under pressure 8:22 Alibaba jumps on $1 billion fine 9:08 Bitcoin resists Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #OECD #growth #forecast #Gazprom #natgas #crudeoil #recovery #EU #Russia #price #cap #EUR #USD #ECB #Fed #FTX #contagion #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
The G20 And IMF Are Already Preparing Their Crypto Regulation

Hard Time Fore Crypto Market: Genesis Trading Is Potentially Facing Bankruptcy

Alex Kuptsikevich Alex Kuptsikevich 23.11.2022 11:58
Bitcoin and Ethereum picture Bitcoin is adding 5.1% over the past 24 hours to $16.5K on Tuesday after updating two-year lows below $15,500. The rate rose in two powerful bursts, one at the start of trading in the US and the other at the beginning of trading in Asia. It's unlikely we will see a start of a promising move on high volumes. So far, as a reflex, investors are trying to follow the stock indices, where risk appetite is increasing. Ethereum is adding 6.7% in 24 hours as traders are encouraged by its ability to defend the $1,000 level. Top altcoins are adding from 4.6% (Cardano) to 30% (Litecoin) over the last 24h. The latter is rising on signals that the SEC may recognise the coin as a digital commodity, like Bitcoin, rather than an asset like almost all other cryptocurrencies. Despite the rebound, Bitcoin is still below the level it started the week, so we characterise the current move as a rebound rather than the beginning of a recovery. Bitcoin first needs to consolidate above $17K as a first reversal signal. More chances are that we are still seeing another mini rally in the bear market. The crypto lending platform's Binance will not invest in Genesis Trading amid the crypto lending platform's search for $1bn in emergency funding, The Wall Street Journal reported. Without an additional cash infusion, Genesis Trading is potentially facing bankruptcy. According to Glassnode, miners this year have sold the most significant volume of bitcoins since 2016. Capriole fund founder Charles Edwards noted that miner sales had soared 400% in the past three weeks. According to him, if BTC does not rise soon, we will see a massive bankruptcy of mining companies. The crypto market has seen a noticeable drop in liquidity following the collapse of FTX, Kaiko noted. Trading volumes on crypto exchanges more than halved to $100bn every week. The US House of Representatives Committee on Agriculture will hold a hearing on December 1 on the crypto-exchange FTX and measures to mitigate the impact of its collapse. The hearing is expected to feature remedial proposals from the head of the Commodity Futures Trading Commission (CFTC), Rostin Behnam.
Swiss Inflation Falls Below Expectations; US Markets Closed, Fed Minutes Awaited

The RBNZ Accelerated Its Pace Of Tightening This Morning

Craig Erlam Craig Erlam 23.11.2022 12:09
Equity markets appear to be treading water on Wednesday as we await the latest batch of FOMC minutes later in the day. Asia played a bit of catchup overnight after Europe and the US posted decent gains on Tuesday that built throughout the session. But futures on both sides of the pond are barely changed from yesterday’s close which may change as the day progresses, of course. I’m not sure whether it’s the FOMC minutes release, the Thanksgiving bank holiday, or just the lack of major catalysts that are driving the inactivity in futures markets. There’s also a huge amount of data on the calendar today which could get things moving including flash PMIs, as well as US durable goods, home sales, consumer sentiment, and jobless claims. That should keep us entertained throughout the day. The minutes are obviously the standout here, although as always I do wonder what exactly we’re going to learn from them that isn’t already evident from the decision, statement, press conference, and flurry of central bank commentary since the event took place. Often it’s not the substance of the minutes but the subtle changes that investors get carried away with. The dovish pivot that may or may not have actually been has been the focus in recent weeks, with Fed commentary since not exactly clearing anything up. Investors may be on the hunt for clues that they’ve acted prematurely, or that there’s actually more support for such a slowdown in tightening and less for a higher terminal rate than they previously thought. Either way, the potential for a big response may be what’s creating this paralysis in the markets this morning. And as can often be the case, it may all be for nothing if the minutes do in fact tell us nothing we already don’t know, leaving us none-the-wiser about the terminal rate but perhaps more assured that 0.5% is more likely in December than not. Of course, the inflation data shortly before the meeting could change that. RBNZ accelerates its tightening The RBNZ accelerated its pace of tightening this morning with a record 75-basis point hike which was in line with expectations. There was plenty of volatility in the New Zealand dollar around the release though as the central bank set a much higher terminal rate and forecast a recession starting next year. A more aggressive approach, in its view, is needed to get inflation back to the target range of 1-3% as the labour market is too tight and inflation is at risk of becoming increasingly embedded. Is the case for $10,000 greater than that for $20,000? Bitcoin is in the green for a second day, up more than 2% in early trade and desperately trying to establish a bottom in the market. That may be easier said than done at a time when the headlines are far from favourable due to the fallout from the FTX collapse. Everyone is wondering who the next victim will be and whether this debacle will uncover similar practices in other areas of the market. Against that backdrop, it’s hard to imagine bitcoin managing any kind of significant, sustainable recovery. The next area of resistance falls around $17,500, a break of which could make things more interesting. But that could be very difficult to overcome. There’s arguably a greater case for the price to fall to $10,000 at the moment, than rising to $20,000. ​ For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
The President Of El Salvador Continues To Promote Bitcoin

Bitcoin: According to InstaForex's analyst, $17,592 is seen as potential target

InstaForex Analysis InstaForex Analysis 23.11.2022 22:45
Bitcoin rallied in the short term after signaling exhausted sellers. Now, it is trading at 16,439 at the time of writing. below 16,640 today's high. The price action showed oversold signs, so a rebound is possible. BTC/USD increased by 7.50% from Monday's low of 15,479 to the 16,640 daily high. Still, after its rally, the rate could retreat a little, it could test and retest the near-term support levels before jumping higher. BTC/USD Triangle Breakout!     BTC/USD registered only false breakdowns below 15,632 static support and now it has jumped above the downtrend line. It retests the weekly pivot point of 16,390. As long as it stays above it, it could resume its growth. Still, the rate could come back to test and retest the broken downtrend line as well. False breakdowns below this line followed by a new higher high signals a larger rebound. BTC/USD Forecast! Jumping and closing above 16,640 activates further growth. 17,592 is seen as a potential target. Relevance up to 21:00 2022-11-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302272
Bitcoin Is Showing The Potential For The Further Downside Rotation

InstaForex forecast Bitcoin may decrease again. According to the broker, Genesis crash was to some extent caused by FTX...

InstaForex Analysis InstaForex Analysis 23.11.2022 22:40
The most crucial level of $ 18,500 and its "duplicate" level of $ 17,582 have both been overcome by bitcoin, as seen on the 4-hour TF. The technical foundation is now in place for additional cryptocurrency sales. We haven't noticed any new collapses, even though the fundamental background of "bitcoin" is still a failure. As we previously stated, bitcoin may remain flat for several weeks or even months after another decline. In theory, this is what we are experiencing right now. The cryptocurrency has been trading between this price and $17,200 for the past two weeks after dropping to $15,600. Therefore, we will not be surprised at all if a narrow sidewall forms in the near future. At the same time, we fully anticipate that cryptocurrency will soon start to decline again. As it turned out, the insolvent FTX is partly responsible for Genesis' liquidity issues. The Alameda venture fund, closely associated with FTX, borrowed $1.6 billion from Genesis in September 2021, with FTT serving as collateral. The FTX exchange, which we have already discussed, issues FTT as its token. In other words, these tokens were not widely used, and now that the exchange has failed, they are worthless. In actuality, the bankruptcy of FTX caused Genesis' $1.6 billion in assets to burn down. Currently, Genesis asserts a liquidity shortfall of about $1 billion, which could lead to its collapse. According to experts, mining complexity is still increasing. From our perspective, this is yet another drawback for bitcoin because the cost of mining increases with mining difficulty. Its price is currently below the cost of production, which is made worse by the rise in complexity. Remember that the subsequent halving is scheduled to occur in 2024. Remember that software-based halving divides the compensation for one extracted block in half and is embedded in the code. As a result, miners will earn half as much for each block mined in one and a half years as they do now. In the past, bitcoin's price would rise after halvings, but this time around, it might be the opposite because someone would have to buy more bitcoin to increase in value. In the interim, there are no apparent buyers on the market.     The "bitcoin" quotes left the side channel they had been in for five months in the four-hour time frame. Since the fall has already passed both crucial levels of $18,500 and $17,582, we anticipate it to continue with a target of $12,426 in the medium term. Although trend channels and lines are no longer useful, the downward trend still exists. Although Bitcoin tries to float, the fundamental background frequently submerges it. Relevance up to 15:00 2022-11-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/327955
Bank Of Japan (BoJ) Plans To Continue Its CBDC Experiment

Bank Of Japan (BoJ) Plans To Continue Its CBDC Experiment

InstaForex Analysis InstaForex Analysis 24.11.2022 10:09
Crypto Industry News: Despite Japan's uncertainty about whether to issue a central bank digital currency (CBDC), the Bank of Japan (BoJ) continues to experiment with the potential of a digital yen. Japan's central bank has partnered with three megabanks and regional banks to conduct a pilot CBDC issuance, local news agency Nikkei reported. The pilot program aims to provide demonstration experiments for the issuance of Japan's national digital currency, the digital yen, starting in spring 2023. As part of the process, the BoJ is expected to work with major private banks and other organizations to detect and resolve any issues with customer deposits and withdrawals in bank accounts. According to the report, the pilot program will test the offline functionality of a possible Japanese CBDC, focused on payments without the internet. Japan's central bank plans to continue its CBDC experiment for about two years and decide to issue a digital currency by 2026, the report notes. The news comes as countries around the world are increasingly launching CBDC research and development initiatives, with China leading the way. Technical Market Outlook: The BTC/USD pair has made a new yearly low at the level of $15,477 as the bearish pressure is still strong. There is no indication of the down trend on Bitcoin to terminate or reverse, so the next target for bears is seen at the level of $13,563 (2019 high). The bulls are trying to bounce and they broke above the local trend line already ( $16,201is the trend line resistance level), the next technical resistance is seen at $17,103. The momentum bounces from the extremely oversold market conditions as well and is currently positive, so the bounce might extend higher. Weekly Pivot Points: WR3 - $16,881 WR2 - $16,477 WR1 - $16,299 Weekly Pivot - $16,072 WS1 - $15,895 WS2 - $15,667 WS3 - $15,263 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-11-25 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302347
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Technical Outlook Of Bitcoin (BTC/USD) By Analytical Expert Of InstaForex

InstaForex Analysis InstaForex Analysis 24.11.2022 11:38
Technical analysis: BTC/USD has been trading upside as I expected and I see potential for further growth due to the higher lows and higher highs in the background. Trading recommendation: Due to the strong upside pressure in the background and rejection of the key Fibonacci confluence in the background, I see potential for further growth. Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price of $17.100 and $17.300 Stochastic oscillator is showing fresh upside momentum, which is strong sign that buyers are in control. Key support is set at the price of $16.300 Relevance up to 10:00 2022-11-25 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302362
Bitcoin Is Showing The Potential For The Further Downside Rotation

The New York State And Law Banning Almost All New Bitcoin Mining Operations

InstaForex Analysis InstaForex Analysis 24.11.2022 13:46
New York Gov. Kathy Hochul announced Tuesday that she had signed a law banning almost all new bitcoin mining operations in the state. Proof of Work (PoW) is the most energy-intensive form of cryptocurrency mining, and is the method used by the largest cryptocurrency, bitcoin. The legislation would still allow permits for power generation facilities that use alternatives to carbon fuels, such as hydropower, which would encourage growth and business development in the industry. Upstate New York is a popular region for cryptocurrency miners due to its cheap hydroelectric power. New York became the first US state to pass such a bill. Hochul said she is determined to ensure that New York City continues to be a center of financial innovation while prioritizing environmental protection. In 2021, New York-based mining companies accounted for roughly a fifth of US bitcoin mining activity, but their share has declined as the bill moved through the state government. The bill passed the state Senate in June, but lobbying efforts by industry representatives delayed its enactment. Relevance up to 10:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328031
The Bitcoin Price Movement Is In The Bullish Channel

Chinese stocks decreased as COVID situation worsens. Bitcoin struggles

Craig Erlam Craig Erlam 24.11.2022 16:25
Equity markets are making steady gains in Europe and Asia on Thursday, while Wall Street is closed for the Thanksgiving bank holiday. The day got off to a decent start as investors on this side of the pond played catch-up following the late rally in the US. All considered it hasn’t been the most lively of weeks but the FOMC minutes did ensure investors went into the Thanksgiving break on a bit of a high. A dovish boost before Thanksgiving The most notable takeaway from the minutes – which were never going to be game-changing – were the discrete references to the difference in support for slowing the pace of tightening now and those raising their estimates of the terminal rate. Clearly, the latter has much less support which means a lower rate hike is on the cards in December – probably 50 basis points – while a higher terminal rate is only a possibility and will depend on the data. While not ideal for investors, the net effect is undoubtedly less hawkish and that’s at least partly what drove that late rally. Read next: G7 work on a Russian oil price cap, gold has gained as dovish Fed signals spread through the market| FXMAG.COM Destructive lockdowns again for China? Record Covid cases in China, more testing and restrictions, and even possible lockdowns went some way towards undermining that positivity coming from the US in Asia on Thursday. Stocks in China slipped while Hong Kong underperformed its regional peers as investors weighed up the prospect of more growth-destructive lockdowns and uncertainty for the world’s second-largest economy. This comes as authorities sought to slightly ease the burden of Covid restrictions and support the property market, both of which are difficult if record case numbers force people indoors. Another disappointing manufacturing survey The plunge in Japan’s manufacturing PMI to a two-year low below 50 – which separates growth from contraction – perfectly highlights how challenging the current environment is around the world. Higher input costs combined with lower domestic and external demand is hammering the manufacturing sector and is likely to continue until inflation abates and growth bounces back. Navigating blind The Bank of Korea has become the latest central bank to jump aboard the “slower for longer” train, raising rates by 25 basis points while leaving the door wide open to further rates hikes. The decision to join the RBA and BoC, with the Fed likely not far behind, comes as the economic headwinds mount. The problem many now face is a result of acting late and aggressively. As rate moves come with a lag, policymakers are being forced to make decisions without full visibility of the impact recent moves have had. They must therefore decide when to slow the pace of tightening in order to avoid unnecessary economic hardship and deflation while inflation is still very high. It may work out in the end but there’s a big risk on both sides that it won’t. CBRT brings an end to its easing cycle I’m not sure that particular analogy works when describing the Turkish central bank. In this case, it’s more like driving a car in reverse while looking forwards in the hope you somehow make it home ok. The CBRT cut interest rates by another 150 basis points today, taking it back to 9% while declaring the end of its easing cycle. That comes as official inflation sits at 85.5% in October, despite various efforts to control the currency movements. A dead cat bounce? Bitcoin is in the green for a third day, albeit only just, as it continues to try and stabilize in the aftermath of the FTX collapse. The event was unsurprisingly a huge setback for the whole industry, both from a contagion perspective but also a reputational one. Traders are correctly now asking themselves who else is exposed, how big will the ripple effects be, and where else this kind of activity is taking place. In such an unregulated world, these fears are very real and could undermine faith in the crypto space for some time, further weighing on prices in the process. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. A "dovish" boost - MarketPulseMarketPulse
The Analysis Of Off-Chain Metrics Allows Cryptocurrency Supporters To Count On A Reversal

Robert Kyosaki argues Bitcoin's link with FTX crash

InstaForex Analysis InstaForex Analysis 24.11.2022 16:54
  The bitcoin cryptocurrency has consolidated below the Fibonacci level of 127.2% ($18,500) and has yet to attempt to go back above this level. This only demonstrates that there are still no bulls in the market. Furthermore, since there are no bulls, there is currently no chance for bitcoin to grow. Now that bitcoin is "bottoming out" and "dead weight," we recommend talking about the overall context of the cryptocurrency market. In the past, we've argued that many self-proclaimed "experts" who frequently share their thoughts on bitcoin (even when they aren't asked) are investors. Such experts continue to amuse us with their predictions that "bitcoin is about to start a bullish trend and will soon cost a lot," considering that bitcoin must demonstrate growth, not decline, to ensure the profit of its investors. Such predictions from well-known, highly regarded individuals serve to encourage small traders to purchase cryptocurrencies, fueling their growth. All of these forecasts fall into two categories after analysis. The first ones at least have a time reference point that can be easily altered when the forecast is incorrect. The latter serves no sort of transient function. Because bitcoin will have time to fall much lower before it can theoretically reach the goal, the value of such a forecast is frequently reduced to zero. How many novice traders and investors are prepared to endure significant losses for one or two years? As a result, although bitcoin may cost $100,000 someday, it might only cost $6,000 in the interim.     One of these authorities is Robert Kiyosaki, who has been urging people to buy bitcoin for a very long time and predicts the complete collapse of the economy and traditional investment instruments. He also thinks that bitcoin has nothing to do with the collapse of the FTX cryptocurrency exchange. He claimed that FTX issues are unique to FTX and do not affect the entire cryptocurrency market, which we disagree with. However, the more these crashes occur, the lower bitcoin may fall as people's trust in cryptocurrencies continues to erode. Large investors may still be holding their coins, but there are other players in the market. The "bitcoin" quotes finally made a successful attempt to surpass the level of $18,500 in the 24-hour timeframe. The fall may continue now that we have a target of $12,426 in mind. As we previously stated, since the price was concurrently in a side channel, crossing the downward trend line does not signify the end of the "bearish" trend. The quotes may drop further as the lower channel limit has been reached. Relevance up to 15:00 2022-11-25 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328064
Bitcoin Has Made A Dynamic And Aggressive Reversal

According to Peter Schiff, "bitcoin mania" is over

InstaForex Analysis InstaForex Analysis 24.11.2022 16:58
  The most crucial level of $18,500 and its "duplicate" level of $17,582 have both been overcome by bitcoin, as seen on the 4-hour TF. Thus, we now have all the technical justifications needed for the cryptocurrency to continue to decline. We have not noticed any new collapses, even though the fundamental background for bitcoin is still a failure. After another fall, bitcoin may remain flat for several weeks or even months, as we previously warned. In theory, this is what we are experiencing right now. The cryptocurrency has been trading between this level and the $17,200 level for the past two weeks after dropping to $15,600. So it won't surprise us if the flat continues in the near future. The existence of "crypto experts," whose aim is to maximize bitcoin pumping to maximize their profit from investing in it, was discussed in the previous article. On the other hand, another group of experts does not make any upbeat predictions because they do not own bitcoin and do not believe in it. Peter Schiff is one of them; he has frequently criticized the original cryptocurrency. This time, he claimed that two stablecoins, USDT and USDC, make up 80% of Ethereum, the second-largest cryptocurrency by market capitalization. The two stablecoins are each worth an estimated $100 billion, while the value of bitcoin is $300 billion. According to Peter, these two cryptocurrencies may soon surpass bitcoin in this indicator. Schiff claims that the "bitcoin mania" is over and that there has been a more than 50% drop in public interest in cryptocurrencies over the past year. Additionally, Schiff argued against tighter regulation of the cryptocurrency market. In his opinion, profit and loss are the best regulators for any sector of the economy, and there should be healthy competition for reputation in the industry. We partially concur with Schiff because, as it recently emerged, some significant players in the cryptocurrency market engage in overtly fraudulent activities. The FTX exchange filed for bankruptcy but could not do so while carrying on with such "schemes." Who claimed that other significant businesses and exchanges didn't act similarly?     In addition, stablecoins have all the features and benefits of traditional cryptocurrencies while backed by real money. Stablecoins' ability to be used as cryptocurrencies while also "flying" from side to side is why they have this advantage. The "bitcoin" quotes left the side channel they had been in for five months in the four-hour time frame. Since the fall has already passed both crucial levels of $18,500 and $17,582, we anticipate it to continue with a target of $12,426 in the medium term. Although trend channels and lines are no longer useful, the downward trend still exists. Although Bitcoin tries to float, the fundamental background frequently submerges it. Relevance up to 16:00 2022-11-25 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328066
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

The biggest exchange, Binance, has revealed plans to establish a $1 billion fund to purchase assets for struggling businesses

InstaForex Analysis InstaForex Analysis 24.11.2022 23:08
After a brief recovery movement, Bitcoin is currently attempting to break through $16,500. Given the strategic significance of the $16,600–$17,000 range for further upward movement, the bulls must maintain upward momentum in the near term. Due to the size of the offer that formed in the $16,600–$17,000 range, a breakdown of the channel's boundaries could result in increased volatility and a strong movement in one of the directions. 950,000 addresses have acquired about 800,000 BTC over the last few weeks fluctuations in this range. Given this, the bulls will attempt to establish a foothold above $17k to secure support and continue the upward trend. However, the bears' pressure is only growing due to some institutions and miners caving in. Bitcoin Whales with balances between 10,000 and 100,000 sold or distributed more than 100,000 BTC over the last two days. Analysts at Glassnode also point out the continued debauchery of miner sentiment. Due to a significant sell-off, the overall balance of mining companies hit an 11-month low. Fundamental background The fundamental background keeps getting better in a challenging on-chain situation. The biggest exchange, Binance, has revealed plans to establish a $1 billion fund to purchase assets for struggling businesses. This significant event encourages investors to be upbeat and confident. Additionally, the Fed reports' release helped to persuade the market that the current monetary policy had reached a turning point. Authorities have determined that it is best to slow down the rate of rate increases. As a result, the likelihood of a rate increase of 50 basis points in December has risen to 75% in the futures market. The market can anticipate a wave of optimism and a recovery movement for the major cryptocurrencies if inflation statistics are positive by the end of November. However, the market psychology has yet to reach a turning point, so there is still a chance that BTC will continue to fall. USD/BTC Analysis Bitcoin has continued to rise after rebounding off the $15.5k support level. Although the price of the cryptocurrency has reached the $16.6k resistance level, the technical indicators on the daily chart suggest that the bullish trend may continue to strengthen.     The MACD is about to form a bullish pattern for the first time since early November, and the stochastic oscillator has formed and is executing a bullish intersection. This suggests that consumer confidence is rising and that there is a good chance that prices will rise even more. Results The fundamental backdrop and some technical signals suggest the likelihood of forming a local Bitcoin bottom. The total supply of "unprofitable" BTC has reached 20,272,000, according to Glassnode experts, which historically denotes the formation of a market bottom.     However, too many "dark horses" are available, and one of them could suddenly turn into a "black swan," reducing market capitalization. We're referring to Genesis, Gemini, Grayscale, and a few mining firms. Considering these elements and the market's turbulence, it is impossible to rule out further immersion despite the momentary thaw. Relevance up to 17:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328074
Bitcoin Maintains A Steady Bullish Potential

Russia's National Cryptocurrency Exchange Could Be Launched Under The Moscow Stock Exchange

InstaForex Analysis InstaForex Analysis 25.11.2022 09:51
Crypto Industry News: Russian lawmakers are working on amendments to launch a national cryptocurrency exchange. These efforts are supported by both the Ministry of Finance and the Central Bank of Russia, which have long had opposing views on the regulation of cryptocurrencies in the country. As reported by local media, members of the lower house of the Russian parliament, the Duma, were discussing changes to the country's cryptocurrency regulations "On Digital Financial Assets" with market stakeholders. Changes that would define the legal framework for a national stock exchange will first be presented to the central bank. Sergei Altukhov, a member of the Duma's Economic Policy Committee, emphasized the fiscal legitimacy of such measures: "It makes no sense to deny the existence of cryptocurrencies, the problem is that they circulate in a large stream outside of state regulation. That's billions of rubles of lost tax revenue to the federal budget." In June, the head of the Duma's Financial Market Committee, Anatoly Aksakov, suggested that Russia's national cryptocurrency exchange could be launched under the Moscow Stock Exchange, a "respected organization with long traditions." In September, the Moscow Stock Exchange prepared a draft law on behalf of the central bank to allow trading in digital financial assets. Earlier this month, a bill was submitted to the Duma that would legalize the mining and sale of mined cryptocurrencies. The act provides for the creation of a Russian platform for the sale of cryptocurrencies, but local miners will also be able to use foreign platforms. In the latter case, Russian currency controls and regulations would not apply to the transaction, but would have to be reported to the Russian tax authorities. Technical Market Outlook: The BTC/USD pair has made a new yearly low at the level of $15,477 as the bearish pressure is still strong. There is no indication of the down trend on Bitcoin to terminate or reverse, so the next target for bears is seen at the level of $13,563 (2019 high). The bulls bounce above the local trend line resistance, however, there is no follow up with this move up so far as the market keeps trading back inside the old, narrow range. The next technical resistance is seen at $17,103. The momentum bounces from the extremely oversold market conditions as well and is currently positive, so the bounce might extend higher. Weekly Pivot Points: WR3 - $16,881 WR2 - $16,477 WR1 - $16,299 Weekly Pivot - $16,072 WS1 - $15,895 WS2 - $15,667 WS3 - $15,263 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-11-26 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302528
Bitcoin Has A Sign Of The Sideways Regime

Bitcoin Is Showing A Potential For The Further Rise

InstaForex Analysis InstaForex Analysis 25.11.2022 10:00
Technical analysis: BTC/USD has been trading downside at the price of $16.400. Anyway, I see the downside movement like a pullback and potential for the further rise. Trading recommendation: Due to the strong upside pressure and channeling mode to the downside , Isee potential for further upside continuation. Watch for the potential buying opportunities with the key Fibonacci confluence support at $16.300. Upside objectives are set at $17.000 and $17.500 Stochastic is showing bull reading, which is sign that there is chance for the upside continuation. Key support is set at the price of $16.300 Relevance up to 09:00 2022-11-26 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302532
Franc Records 11th Consecutive Daily Decline Against the Dollar as US Economic Concerns Mount

More effects of FTX crash could show up

Craig Erlam Craig Erlam 25.11.2022 16:32
We’re seeing subdued trading at the end of the week, with the absence of the US leaving markets lacking any notable direction. This isn’t really unusual and at the end of the week too, it really makes sense. Barring a flurry of big headlines from elsewhere, we could now see equity markets just drift into the weekend with investors already having an eye on next week. Read next: The ECB Members Remained Concerned About Inflation Becoming Entrenched| FXMAG.COM Perhaps today people are trading in their charts for some Black Friday deals, the outcome of which will certainly be on everyone’s radar. Going into the holiday season, we’ll get an early idea of the state of play for household spending in the midst of a cost-of-living crisis. Of course, it will naturally be difficult to distinguish how much of that bargain hunting will prove to be holiday season shopping brought forward in an attempt to get the “best deals”. But if Black Friday shopping takes a hit this year, it won’t bode well for the rest of the holiday period which is so important to retailers. PBOC cuts the RRR The PBOC cut the RRR by 25 basis points this morning in a bid to support the economy which is once more going through a difficult period. How effective that will prove to be when cities are seeing restrictions and effective lockdowns reimposed is hard to say. But combined with other measures to boost the property market and ease Covid curbs, the cut could be supportive over the medium term when growth remains highly uncertain. Bitcoin still extremely vulnerable Bitcoin is edging lower again today after recording three days of gains. That dragged it off the lows but didn’t really carry it that far from them. It’s trying to stabilize around the $15,500-$17,000 region and weather the storm but I’m not sure it will be that easy. There’s likely more to come from the FTX collapse and the contagion effects, not to mention potentially other scandals that could be uncovered. This may continue to make crypto traders very nervous and leave the foundations supporting price extremely shaky. ​ For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Black Friday lull - MarketPulseMarketPulse
Bitcoin Has A Sign Of The Sideways Regime

Bitcoin remains vulnerable to another break down

InstaForex Analysis InstaForex Analysis 25.11.2022 22:22
Green lines- Fibonacci retracement levels After the FTX scandal and the sell off towards $15,500, Bitcoin has found some balance and is mostly moving sideways. The bulls are absent and there is not enough strength or a catalyst until now to bring bulls back in the game. Bitcoin remains vulnerable to another break down. Bitcoin is unable to bounce even higher than the 23.6% retracement level. Price is trading sideways for two weeks now creating a trading range between $15,500 and $16,900. Traders need to remain patient. Relevance up to 17:00 2022-11-26 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302619
The Analysis Of Off-Chain Metrics Allows Cryptocurrency Supporters To Count On A Reversal

The Analysis Of Off-Chain Metrics Allows Cryptocurrency Supporters To Count On A Reversal

InstaForex Analysis InstaForex Analysis 26.11.2022 12:52
The cryptocurrency market has historically been cyclical. Cycles were formed around Bitcoin halving. Halving occurs every time 210,000 blocks are mined. It happens about every four years. The most recent halvings occurred in 2012, 2016 and 2020. In between halvings, the bull market is replaced by a bear market. Given the transparent nature of most blockchain networks, it is possible to look at the on-chain data to identify patterns and similarities between the current period and previous cycles. Bearish Cycle Bottoming Indicators On-chain analysts, based on data from Glassnode, are looking at several potential bear market bottom signals. One metric is the supply profit and loss range, which shows the total supply of BTC in both profit and loss. The values represent unrealized profit and loss since the data tracks the value of the price at the time the coins were acquired through trading or mining. The lines showing the dynamics of these two indicators recently converged for the fifth time in the history of BTC. Previous events of this nature have occurred during bear markets near the cycle's lowest point. The previous such convergence occurred in May 2020 during the global market crash due to COVID-19. In addition to the black swan that the coronavirus pandemic has become, convergence occurred in 2012, 2014 and 2019. Although the coincidences lasted from six months to a year, every time the price of Bitcoin recovered, it hit an all-time high for three years. Supply P&L bands are not a guaranteed bear market bottom indicator, but while history doesn't always repeat itself, it often plays out in a similar fashion. Long-term and short-term MVRV MVRV is a metric related to the ratio between realized and market capitalization of bitcoins. MVRV takes into account only positions with a maturity of at least 155 days and serves as an indicator for evaluating the behavior of long-term investors. Like supply and loss bands, long-term holders' MVRV fell lower than short-term holders on only five occasions. The periods are almost identical to the supply schedules that have appeared during each of the past bear markets and market crashes due to COVID-19. Positions of short-term holders The total number of bitcoins held by short-term holders has surpassed three million coins since cycle lows. Short-term holders are often the most sensitive to price volatility, and the number of coins they hold is historically low at the beginning of the cycle. There have been cases in history when the supply of short-term holders has reached similar levels. However, unlike other indicators, this has happened six times since 2011. Four of the cases are consistent with the other data described above, and in addition to these, short-term holder positions bottomed out in 2016 and 2021. In recent weeks, one off-chain bear market bottom signal has also emerged. When Bitcoin fell from its all-time highs in the past, the point at which the mainstream publications declared "the crypto market is dead" was notoriously the bottom of the market. Major publications declared Bitcoin dead 90 times in 2018 and 125 times in 2017. Currently, the cryptocurrency has only received 22 obituaries in 2022, so we are far from a market reversal signal if this observation is to be believed. Three more reasons to recover But not only the analysis of off-chain metrics allows cryptocurrency supporters to count on a reversal. Whether it's due to macroeconomic changes or just plain old bitcoin price cycles, three new reasons are being cited for why the major cryptocurrency could turn bullish from current values near two-year lows. First in line is a theory involving a macromarket catalyst, courtesy of macro economist Henrik Zeberg. In one of his latest tweets, he claims that Bitcoin still behaves like other risky assets, but specifically "not like gold." The FTX scandal has weakened the correlation between BTC and stocks. However, there is no reason to dismiss the idea that this relationship will return. Zeberg reminds that the tide lifts all boats, and if a rally in the risk asset area starts, it could send BTCUSD over $100,000. According to another popular crypto trader, Alan Tardigrade, now is the time to pay attention to the weekly BTCUSD chart, which showed a 20-week bullish divergence. This indicates a weakening of the momentum of the downward trend, which means that BTC may start an upward rally. This upward movement corresponds to Bitcoin's behavior after the COVID-19 market crash in March 2020. Back to crypto-centric triggers and on-balance volume (OBV) is one of the indicators that gives an idea of possible bullish times. OBV acts as a cumulative measure of buy and sell pressure by maintaining a running tally of volume across a given time period. It is similar to the cumulative volume delta, but includes more than just buying and selling trades. The OBV is now showing a bullish divergence as well, causing a wave of interest in bitcoin analyst circles. Bitcoin trader and technical analyst Mags draws attention to another important phenomenon. He notes that the RSI for BTCUSD is now showing a bullish divergence on the weekly timeframes that has never happened before, even at previous bear market lows. "Every Bull Market Peak $BTC formed a bearish divergence on RSI followed by a bear market correction! This the first time ever BTC is printing a bullish divergence on weekly," he stressed. Relevance up to 14:00 2022-11-28 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328195
Taking care of cryptocurrencies - ByBit highlights talks safety measures

Taking care of cryptocurrencies - ByBit highlights talks safety measures

ByBit Analysis ByBit Analysis 28.11.2022 09:47
  The decentralized model of cryptocurrency largely transfers power to users, which is why many users are drawn to it. However, with that power comes the responsibility of maintaining the privacy of your security keys. Effectively, by having complete ownership of your funds, you become solely responsible for the security of your funds. This article will examine various best practices for practical user security. Cryptocurrency users are susceptible to being targeted by hackers    As a digital asset, cryptocurrency has intrinsic value and can be stolen and diverted to new owners instantly and irrevocably. This creates a massive incentive for hackers to target users who do not take their security seriously. In 2020, research data revealed that global cryptocurrency losses due to hacking exceeded $3.8 billion. Trading platforms, wallet service providers, and related enterprises incurred most of these losses. Due to the undeniable high risk of security threats and breaches, cryptocurrency trading platforms and wallet service providers are investing more in cybersecurity. The security systems they procure are like those used in traditional centralized financial institutions with complex and layered security features. As the security levels at the institutional level get harder to penetrate, individual users gradually become the target of hackers. 10 Best Security Practices for Cryptocurrency Users 1. Change your perception of cybersecurity One fact that has existed for ages is that we are undoubtedly paying fees for the security of our funds in our bank account (though “security fees” will never appear on bank statements). Unlike traditional centralized banking financial institutions, decentralized systems such as cryptocurrencies transfer the control and responsibility of security to individual users. With cryptocurrency, even when we might be excited to complete our first cryptocurrency transaction, we should not forget that there are no longer any security service providers similar to what banks have, and there may not even be enough regulations to provide any protection (depending on the national or regional regulatory regulations in which the holder is located). Therefore, it is recommended that cryptocurrency users have crucial security practices in place, such as buying simple and easy-to-use hardware security devices, mastering security protocols, and implementing security best practices recommended in this article.   2. Choose a trusted trading platform with reliable security incident compensation or insurance mechanism. The most apparent risk faced by cryptocurrency holders is the theft of coins. Assuming most individual users hold coins on cryptocurrency trading platforms, choosing a trusted platform is undoubtedly important. There is no benchmark for international security standards or third-party agency ratings for trading platforms in the cryptocurrency industry. Therefore, it is necessary to properly understand the security mechanism of a platform before registration, such as the company’s current security investment. Also, it is important to check if there is any user account security insurance or guaranteed compensation for security breaches.   3. It is not enough to be well-informed on anti-phishing practices and scams; you must complete a safety test.   You should be familiar with basic user security risks as a cryptocurrency holder. Among them, phishing is the most common. To avoid being viewed as a “fish” in the eyes of perpetrators, you should be equipped with the knowledge about common “baiting-the-hook” techniques. One example would be when you receive a phishing email, and the URL that invites you to click is a fake domain name similar to a trusted one e.g. www.goog1e.com (note that it is not www.google.com). It could even be a clone website of a commonly used trading platform. According to data, around 65% of organizations worldwide experienced some kind of phishing attack in 2022. If your email has been compromised, or if you previously had a compromised account, then phishing emails will be carefully designed to target you. 96% of phishing attacks come from email, according to statistics. So, how do you prevent this?  A reliable method for crypto holders is to complete an anti-phishing security test. The Google online test is a good benchmark and you can take the test here. It comprises a total of eight (8) questions and requires just 10 minutes of your time. Didn’t manage to score full marks? That means you need to increase your security awareness and try again. Many large companies also test employees’ security awareness and corporate security status. Other common phishing methods include sending gifts or bonuses through fake official social media channels, posing as customer support personnel, or cloning trading platform CEOs' social accounts.    4. Use of 2-Factor Authentication (2FA)  The good news is that most cryptocurrency trading platforms, including Bybit or wallet service providers, require users to use two-factor authentication, such as Google Authenticator. The downside is that users will always dislike the hassle of using these tools. Taking the time to understand the principles of the 2FA security mechanism will allow us to understand the correct usage of a 2FA. 2FA is an additional layer of security used to ensure that only legitimate owners can access their accounts. This “extra” layer means that in addition to some things you know (password, PIN, etc.), security verification will also verify the second layer (two-factor). This two-factor can be something you own, such as the Google Authenticator app installed on a mobile phone that you carry, a one-time password sent to your mobile phone via SMS or hardware tokens. These features are used on top of your existing mobile security features (such as fingerprints, iris and/or facial scanners, etc.). When we install Google Authenticator directly on the computer, we give up an extra layer of protection every time we copy the verification code instead of using the smartphone app. It is very likely that once a hacker (remote) or a person who has physical access to your computer and gains access, your existing layers of protection will be penetrated. At Bybit, users can bind their accounts with Google Authenticator. The best time to bind your Google Authenticator is immediately after your first login to the Bybit account. Read here on how to bind your Bybit account to Google Authenticator.   5. Strong passwords independent of other Internet accounts It is always the most economical choice for a hacker to try to hack the target cryptocurrency account by using a user’s compromised account and password. Knowing this, a savvy cryptocurrency holder will have the following preventive measures. First, register a new email account for the cryptocurrency platform to circumvent any previous digital footprint that would allow hackers to successfully hack or clone your account. Secondly, do not use weak or common passwords. A report from CipherTrace, a blockchain certificate company, shows that 65% of the Know-Your-Clients verification (KYC) processes in the world’s top 120 cryptocurrency trading platforms are weak. This means that once your crypto account password has been cracked, the hacker could easily obtain your crypto assets on the trading platform and transfer them to their wallet address, thus leaving little to no chance of retrieving the assets.    6. Dividing assets in a 70-20-10 ratio to diversify risks In addition to trading on platforms using your accounts and cryptocurrencies, it is common for traders to store crypto assets offline like one would with cash in a safe. Personal crypto assets, whether stored in hard wallets, physical storage, desktop wallets, or mobile APP wallets, are recommended to be allocated to cold, warm, and hot wallets in the ratio of 70%, 20%, and 10% of assets depending on an individual needs and preferences. Would you still carry your entire net worth around in your wallet? Most people consider that reckless, yet cryptocurrency users often keep all their cryptocurrency in a single wallet. Instead, users should spread the risk among multiple and diverse cryptocurrency wallets. Prudent users will keep only a small fraction, perhaps less than 5%, of their cryptocurrency in an online or mobile wallet as “pocket change.” The rest should be split between a few different storage mechanisms, such as a desktop wallet and offline (cold storage).   7. Use a physical wallet that represents future trends Because most users are far more comfortable with physical security than digital security, a very effective method for protecting cryptocurrency is to convert them into physical form. Cryptocurrency keys are nothing more than long numbers. This means they can be stored in a physical form, printed on paper or etched on a metal coin. Securing the keys becomes as simple as physically securing the printed copy of the cryptocurrency keys. A set of cryptocurrency keys printed on paper is called a “paper wallet,” and many free tools can be used to create them. For example, I would keep most of my cryptocurrency (99% or more) stored in paper wallets, encrypted with BIP-38, with multiple copies locked in safes. Keeping cryptocurrency offline is called cold storage and is one of the most effective security techniques. A cold storage system is one where the keys are generated on an offline system (one never connected to the internet) and stored offline on paper or on a physical device, such as a USB memory stick. In the long term, cryptocurrency security will increasingly become hardware-tamper-proof wallets. Unlike a smartphone or desktop computer, a cryptocurrency hardware wallet has one purpose: to securely hold cryptocurrency. Without general-purpose software to compromise and with a limited interface, hardware wallets can deliver an almost foolproof level of security to non-expert users. It is no surprise that hardware wallets will become the predominant method of cryptocurrency storage.   8. Balance the risk of excessively complex protection to prevent asset loss   Complexity is the enemy of security, especially for the average individual user. The main risk addressed in the many security measures mentioned above is the prevention of stolen crypto assets, whether stolen on a trading platform or stolen physically – although, overly complicated security measures could pose greater risks. Although most users are rightly concerned about cryptocurrency theft, there is an even bigger risk. Data files get lost all the time. If they contain cryptocurrency, the loss is much more painful. In the effort to secure their cryptocurrency wallets, users must be very careful not to go too far and end up losing the cryptocurrency. In July 2011, a well-known cryptocurrency awareness and education project lost almost 7,000 cryptocurrencies. In their effort to prevent theft, the owners had implemented a complex series of encrypted backups. In the end, they accidentally lost the encryption keys, making the backups worthless and losing a fortune. One important security consideration that is often overlooked is mortality, especially in the context of incapacity or death of the key holder. Cryptocurrency users are told to use complex passwords and keep their keys secure and private, not sharing them with anyone. Unfortunately, that practice makes it almost impossible for the user’s family to recover any funds if the user is not available to unlock them. If you have a lot of cryptocurrencies, you should consider sharing access details with a trusted relative or lawyer. A more complex survival scheme can be set up with multi-signature access and estate planning through a lawyer specializing in “digital asset execution.”   9. Personal Data Protection and cryptocurrency-related privacy issues   Individuals own their data and cryptocurrency assets. Personal data protection is a sensitive subject. A single trace can identify and associate your personal information (PI) in the encrypted world with your cryptocurrencies. For example, your online usernames/ID on crypto community forums, your IP address, smartphone device information, personal infor trading platforms, or even if you inadvertently mention the type and quantities of crypto you own on social media. Information about you being the owner of a particular wallet address, the crypto service provider (trading platform or wallet) you use, your attendance at a private cryptocurrency conference, etc. All this personal data could be easily obtained by unscrupulous individuals looking for easy targets. Protecting your privacy is part of protecting the security of your cryptocurrency assets but it is also the only way you can avoid the conflict between the encrypted virtual world and the real world.   10. Living in the cryptocurrency world, you will need a security expert friend   “My deposit went to someone’s else address.” “The customer support of the trading platform said that I was caught in a clipboard hijacking malware, and I will need to immediately use anti-virus software and check the browser plugin.” “What exactly is a clipboard hijacking malware, and what should I do?” Users in the digital world also face problems similar to those in the real world, especially security issues. They have so many questions with no answers and nobody to turn to. Perhaps, having a security expert friend in your daily life would make things much less complex. In Summary According to Statista, the number of blockchain wallet users, as of October 2022, stands at over 82 million. Cryptocurrency is a completely new, unprecedented, and complex technology. Over time we will develop better security tools and practices that are easier to use by non-experts. For now, cryptocurrency users can use many tips to enjoy a secure and trouble-free cryptocurrency experience. Source: How to Keep Your Cryptocurrency Safe (2022) | Bybit Learn
Crude Oil Sees Its Biggest Weekly Pull Back Since April

Chinese Protests Send Crude Oil Lower | Bitcoin Under Pressure

Swissquote Bank Swissquote Bank 28.11.2022 10:05
Massive anti-Covid protests in the biggest Chinese cities marked the weekend. So, the week kicked off on a bad mood in the Asian markets. Australian and Chinese stock markets were painted in red. The Hang Seng index dived more than 2% in Hong Kong, and crude oil has already lost more than 3% at the time of shooting. Black Firday In the US, the record Black Day sales could hammer the joy around a potential Federal Reserve (Fed) pivot on softening US economy. The US shoppers spent more than $9 billion in online sales on Friday, and Cyber Monday is also expected to be a record-breaking one, with more than $11 billion to be spent. This is not exactly what you expect to hear when you think that the US will enter a consumer-led recession in couple of weeks from now… FX And S&P 500 The US dollar kicked off the week on a bullish note. The EURUSD slipped below the 200-DMA, near 1.0380. The S&P500 index closed last week at the highest levels since mid-September, and stands a couple of points from the year-to-date descending channel top, which could bring topsellers in, especially if strong data revives the idea that the Fed has no reason to stop hiking its interest rates. Watch the full episode to find out more! 0:00 Intro 0:38 China doesn’t want Covid zero, but it’s not simple… 2:55 Chinese protests send crude oil lower 4:09 Dear Mr. Powell, Black Friday sales hit record this year… 6:32 … what should we expect? 7:03 Watch China EV deliveries, Tesla, Apple on China unrest 8:26 Bitcoin under pressure, again Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #China #Covid #protests #US #Black #Friday #Cyber #Monday #Fed #expectations #USD #EUR #crudeoil #Bitcoin #Tesla #Apple #Xpeng #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
The Bitcoin Price Movement Is In The Bullish Channel

Bitcoin Has A Potential For The Downside Movement

InstaForex Analysis InstaForex Analysis 28.11.2022 10:15
Technical analysis: BTC/USD has been trading downside this morning and I found breakout of the key support at the price of $16.320. Trading recommendation: Due to the breakout of the key support in the background, I see potential for the downside movement. Watch for the potential selling opportunities on the rallies with the downside objectives at $16.000 and $15.275. MACD oscillator is showing downside reading, which is sign that sellers are in control. Key resistance is set at the price of $16.380   Relevance up to 08:00 2022-11-29 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302730
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Russian President Vladimir Putin Called For The Creation Of An Independent And Blockchain-Based Settlement Network

InstaForex Analysis InstaForex Analysis 28.11.2022 10:28
Crypto Industry News: Russian President Vladimir Putin has criticized the monopoly in global financial payment systems and called for the creation of an independent and blockchain-based settlement network, speaking at the international AI Journey Conference in Moscow. At an event organized by Sberbank, Russia's largest bank and the government's main lender, stated: "Digital currencies and Blockchain technology can be used to create a new system of international settlements that will be much more convenient, completely safe for its users and, most importantly, will not be dependent on banks or third-country interference. I am convinced that something like this will definitely be created and it will develop, because no one likes the diktat of monopolists, which harms all parties, including the monopolists themselves. "The existing system of international payments is expensive, the system of its correspondent accounts and regulations are controlled by a narrow club of states and financial groups," the Russian president noted. Technical Market Outlook: The BTC/USD pair has made a new yearly low at the level of $15,477 as the bearish pressure is still strong. There is no indication of the down trend on Bitcoin to terminate or reverse, so the next target for bears is seen at the level of $13,563 (2019 high). The bulls bounce above the local trend line resistance, however, there is no follow up with this move up so far as the market keeps trading back inside the old, narrow range. The next technical resistance is seen at $16,793. The momentum bounce from the extremely oversold market conditions was very short-lived and now the indicator is back under the level of fifty. Weekly Pivot Points: WR3 - $17,057 WR2 - $16,628 WR1 - $16,391 Weekly Pivot - $16,199 WS1 - $15,962 WS2 - $15,770 WS3 - $15,340 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 10:00 2022-11-29 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302752
Changing correlation of Bitcoin and US stocks. Brazil: Lower house of Congress approved crypto regulation bill

The Cryptocurrency Failed To Build On The Success Of The Trading

InstaForex Analysis InstaForex Analysis 28.11.2022 12:08
The new trading week on the crypto market started with minimal price movements and slight bearish dominance. In general, the classic post-weekend situation with low trading volumes and minimal volatility persists. Despite the subsiding volatility, the market is still waiting for resolution of several key crises. The main one concerns the likely bankruptcy of Gemini, which could become another "black swan" of the crypto market. The situation in the mining industry is also worsening, as the difficulty of mining has increased by 0.5% after another recalculation. As a result, we are seeing one of the biggest capitulations of mining firms in the last seven years. The positive news is that the process of capital redistribution continues. The number of addresses holding at least 1 BTC has reached an all-time high. Similar dynamics can be seen among "sharks" and "whales," which indicates the active work of long-term investors. BTC/USD Analysis At the end of the previous week, Bitcoin confidently defended the $15.5k key support level. Subsequently, the cryptocurrency price resumed upward movement and reached a local peak at $16.6k. The main boundary of $16.1k, which restrained the bullish potential, was broken. However, over the weekend, the cryptocurrency failed to build on the success of the trading week, and the price began to slowly slide towards the lower boundary of the fluctuation range. At the same time, we saw a serious resistance of buyers, which can be seen from the uncertain red candlesticks. As a result, as of November 28, Bitcoin failed to make a downward breakout of the $16.2k level, which became a local support zone and a bridgehead for further upward movement. If the asset holds $16.2k at the end of the current trading day, the bullish idea with a move to the $16.8k–$17.1k range remains valid. The technical metrics of the asset indicate a drop in trading activity. The RSI index and stochastic are declining to the lower boundary of the bullish zone, indicating a drop in buying interest following the weekend. However, the MACD completed its bullish crossover, which resulted in a bearish divergence on the charts. This might indicate an emergence of a local upward trend. Over the weekend, the bears did not have enough forces to cut the price down, in spite of the fall of the trading activity, which is a direct evidence for the bulls to take the initiative. Results Last week's strong defense of the $15.5k level was the catalyst for buying activity. As a result the bulls managed to reach the $16.6k level and hold the $16.2k support zone. This gives hope for the emergence of a local upward trend this week. For this, Bitcoin needs to hold the $16.2k level and continue moving towards the $16.8k–$17.1k range. These are the main bullish targets for the price movement this week. However, it is important to understand that there are several "powder kegs" in the market, such as Gemini, and therefore the possibility of an unpredictable decline always remains.   Relevance up to 09:00 2022-11-29 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328302
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

The Lowest BTC Mining Revenue | Singapore Bank DBS Is The First Asian Bank To Use JPMorgan’s Blockchain-Based Fixed Income

Crypto.com Accelerate the... Crypto.com Accelerate the... 28.11.2022 14:32
BTC mining revenue is at a 2-year low. AAVE proposes governance changes. Blockchain venture capital investments are down in October. Weekly Market Index Last week’s crypto market prices were up slightly at +1.99%, while volume and volatility dropped by -14.48% and-2.34%, respectively. News Highlights The total Bitcoin mining revenue fell to a two-year low of US$11.67M due to the declining Bitcoin (BTC) price and heavier computational demand from rising network difficulty. Blockchain venture capital investment decreased in October to US$0.84B compared to US$1.64B in September. The number of individual deals dropped from 93 to 69.  Due to the recent attempt to exploit DeFi protocol Aave (AAVE) via short-selling, project contributors have proposed governance changes. One proposal is for temporarily freezing a list of token markets, including Curve DAO Token (CRV), on Aave v2. Singapore bank DBS said it has become the first Asian bank to use JPMorgan’s blockchain-based fixed income trading network Onyx. The Onyx Digital Assets network uses tokens for short-term trading in fixed income markets. Crypto wallet downloads reached 100 million in 2022 for both iOS and Android devices comprising over 21 wallet applications that allow storage.     Argentina 2022 Survey: Argentines Are Increasingly Keen to Adopt Cryptos and NFTs: Crypto.com recently commissioned a survey of more than 2,000 Argentines to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs. Research Roundup Newsletter (October 2022): In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility. Alpha Navigator (October 2022): We look at crypto industry performance in October, including ETH’s short-term correlations with equities reducing. Is the Fed pivoting on rate tightening policy?         Argentina 2022 Survey: Argentines Are Increasingly Keen to Adopt Cryptos and NFTs: Crypto.com recently commissioned a survey of more than 2,000 Argentines to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs.   Research Roundup Newsletter (October 2022): In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility.   Alpha Navigator (October 2022): We look at crypto industry performance in October, including ETH’s short-term correlations with equities reducing. Is the Fed pivoting on rate tightening policy? Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.
Effects of the FTX crash are here to stay. Traders are said to stay vigilant

Effects of the FTX crash are here to stay. Traders are said to stay vigilant

Craig Erlam Craig Erlam 28.11.2022 19:20
It’s been a pretty quiet start to the trading week, with the negative session in Asia continuing into Europe and the US ahead of the open on Wall Street. Chinese stocks have been hit particularly hard amid unrest over Covid restrictions. The protests really do highlight how increasingly frustrated the public is becoming with the leadership’s zero-Covid policy, even if it has been modestly relaxed recently. Record cases across multiple cities are putting the policy to the test and the unrest highlights the enormity of the challenge facing President Xi Jinping and his commitment to zero-Covid. The combination of these creates huge uncertainty, both in terms of how the protests are handled and what the whole experience means for the future of the policy and the economy. It comes at a time when Chinese stocks had been boosted by the prospect of the policy being relaxed, with more easing expected in the spring. So much now is uncertain which may continue to weigh on sentiment until we get a better idea of the direction of travel. Despite how much time has passed and what other countries have achieved, it would appear China is not prepared for a significant loosening of restrictions which could mean that frustration we’re seeing continues to bubble over. The rest of the week promises to be extremely lively with the US returning from the Thanksgiving holiday and the calendar packed with big-hitting economic data from around the globe. That includes what is normally considered the biggest of the lot – maybe now second behind inflation – the US jobs report to wrap up the week. Buckle up, it could be a bumpy ride. Cryptos on the ropes Bitcoin remains under pressure despite recovering slightly last week. Cryptos are still suffering the fallout from the FTX collapse and the still unknown full extent of the contagion. Not to mention the fact that traders will now be hyper-alert to similar vulnerabilities elsewhere in the crypto world. The fact that risk appetite is weak today also won’t be helping and bitcoin is off around 2% as a result and not far from $16,000. While it’s seemingly trying to form a base around $15,500-17,000, it may be easier said than done in this environment. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Stock slide amid China unrest - MarketPulseMarketPulse
Bitcoin Has Strong Sign That Buyers Are In Control

Bitcoin Has Strong Sign That Buyers Are In Control

InstaForex Analysis InstaForex Analysis 29.11.2022 08:51
Technical analysis: BTC/USD has been tradingupside this morning and I see potential for the further rally towards upper references. Trading recommendation: Due to the breakout of the trading range in the backgrtound, I see potential for further rally. Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price of $16.800 and $17.300. MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control. Key support is set at the price of$16.000   Relevance up to 08:00 2022-11-30 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302905
There Are Many Ways To Join A Crypto Community

Kenya, Nigeria And South Africa Lead The Way With The Largest Number Of Cryptocurrency Users

InstaForex Analysis InstaForex Analysis 29.11.2022 09:45
Crypto Industry News: According to a blog post published this week, the International Monetary Fund believes that the collapse of the Sam Bankman-Fried FTX exchange should serve as a warning to African nations about the threats cryptocurrencies pose to their economies. "Regulating a highly volatile and decentralized system remains a challenge for most governments, requiring a balance between minimizing risk and maximizing innovation." Only 25% of sub-Saharan African countries regulate cryptocurrencies, although two-thirds have implemented some restrictions and six countries have banned cryptocurrencies altogether. "Africa is one of the fastest-growing cryptocurrency markets in the world," the authors wrote, citing Chainalysis data, "but it remains the smallest market, with cryptocurrency transactions peaking at $20 billion a month in mid-2021." Kenya, Nigeria and South Africa lead the way with the largest number of cryptocurrency users in the region, with many people using cryptocurrencies to make payments. The authors note that policy makers are concerned that cryptocurrencies "could be used to illegally transfer funds out of the region" and could also be used to circumvent rules designed to prevent capital flight. Technical Market Outlook: The BTC/USD pair has made a new yearly low at the level of $15,477 as the bearish pressure is still strong. There is no indication of the down trend on Bitcoin to terminate or reverse, so the next target for bears is seen at the level of $13,563 (2019 high). The bulls bounced above the local trend line resistance, however, there is no follow up with this move up so far as the market keeps trading back inside the old, narrow range. The next technical resistance is seen at $16,793. The momentum bounce from the extremely oversold market conditions was very short-lived and now the indicator is back under the level of fifty. Whipsaw trading conditions inside the range continue. Weekly Pivot Points: WR3 - $17,057 WR2 - $16,628 WR1 - $16,391 Weekly Pivot - $16,199 WS1 - $15,962 WS2 - $15,770 WS3 - $15,340 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-11-30 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302939
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Investments in crypto funds slid noticeably - Coinshares. The leading cryptocurrency suffers from situation in China

Alex Kuptsikevich Alex Kuptsikevich 29.11.2022 10:06
Bitcoin suffers from China's realties Bitcoin declined on Monday along with stock indices, testing six-day lows near $16K, following a decline in demand for risky assets due to unrest in China. Near this round level, the first cryptocurrency saw a demand, and in early trading on Tuesday, cryptocurrencies rose more actively than traditional markets, bringing the price of Bitcoin back to $16.5K. According to CoinMarketCap, total capitalisation rose 2.2% overnight to $835bn, while the top coins add between 2% (Cardano) and 9% (Dogecoin), and Ethereum is again hovering around $1200. Read next: Meta fined by Irish regulators amidst privacy concerns| FXMAG.COM The cryptocurrency market is showing signs of buying on the downturn and has been performing better than stocks for the past 24 hours, bolstering buyers' hopes. Major players continue to go bust, adding the BlockFi platform to the list, and Hong Kong exchange AAX is having problems. The market seems to be taking this news as part of the sector's recovery process, with weaker projects leaving. According to Glassnode, traders with less than 1 Bitcoin have bought over 96K BTC, since FTX collapse  Santiment notes that wallets with large balances (100-10,000 BTC), after three weeks of net sales of 1.36% of total volume, have accumulated 0.24% in the last five days. It looks like the whales may be about to stop selling. Meanwhile, Glassnode claims smaller players are increasingly buying bitcoin on the dips. Investors with less than 1 BTC balance have added 96,200 BTC to their total holdings since the FTX crash. According to CoinShares, investments in crypto funds fell by $23 million last week, with the outflow of funds the highest in 11 weeks. Bitcoin investments decreased by $10m, and Ethereum by $6m. Investments in funds allowing shorts on bitcoin increased by $9m. Negative market sentiment persists after the FTX collapse, CoinShares noted. Regulators could take years to catch up and successfully control the cryptocurrency industry, so the industry needs to learn how to do it independently, says billionaire Bill Eckman.
The Current War Between China And The United States Over Semiconductor Chips Is Gaining Momentum

China Protests Hit Apple | BlockFi Files For Bankruptcy

Swissquote Bank Swissquote Bank 29.11.2022 10:34
The week started with a selloff across global equities. Unrest in China due to protests against the Covid zero policy combined with the Federal Reserve (Fed) members’ hawkish comments led to an early week selloff in both Asian, European and US equities. Crypto Market In cryptocurrencies, it was another day of bankruptcy news. This time, the crypto lender BlockFi, which had strong ties with FTX announced to file for bankruptcy. Bitcoin eased but didn’t damage important support on the news, while Coinbase dived another 4%. Stocks Market Elsewhere, the S&P500 lost 1.54% on Monday, as Nasdaq slid 1.43%. The US dollar traded up and down as US crude fell to $73pb then rebounded to flirt with the $80pb this morning, despite the Chinese slowdown worries. Expectation that OPEC would use the Chinese unrest as excuse to restrict outlook boosted bulls’ appetite. Fed There is still hope that Fed President Jerome Powell talks about slower rate hikes at his speech this week, but again, his words shouldn’t be heard halfway through. The Fed is willing to slow the pace of rate hikes to avoid going too far. But if they slow down, it’s also because they want to go higher than 5%. Watch the full episode to find out more! 0:00 Intro 0:24 China unrest, hawkish Fed comments hit sentiment 1:00 Fed remains haw-kish! 3:34 What does China developments mean for markets? 4:29 Why did crude oil rebound? 6:34 Ghana wants to buy oil with gold 7:00 China protests hit Apple, VW, but Chinese ADRs rebound 8:20 BlockFi files for bankruptcy Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #China #Covid #protests #Apple #Foxconn #VW #Fed #expectations #USD #XAU #crudeoil #Chevron #Venezuela #Bitcoin #BlockFi #FTX #bankruptcy #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH  
It is estimated that Sam Bankman-Fried, FTX and the Alameda Research fund could be linked to over 150 other entities in the industry. – Geco.one

It is estimated that Sam Bankman-Fried, FTX and the Alameda Research fund could be linked to over 150 other entities in the industry. – Geco.one

Geco One Geco One 29.11.2022 10:33
Bitcoin (BTC) After the first half of November this year, Due to the panic sale caused by the collapse of FTX, the third largest cryptocurrency exchange in the world, Bitcoin has stabilized in the last few days in the range between $16,000 and $17,000. However, there are many indications that this is only a form of correction, after which the quotations of BTC could return to a downward path. One must remember that the BTC exchange rate has been in a downward trend for over a year, and this trend has stayed the same at any time. Therefore, from a purely technical point of view, there is no reason to forecast a more significant rebound. In addition, it is also worth noting that the observed in the first half of November this year the decline was extremely dynamic, which may indicate that it was an impulsive move, while the rebound observed for several days is exceptionally calm, which suggests that it is only a form of another correction. Given all this, the bankruptcy of FTX has already been officially announced. As a result, its further negative impact on the cryptocurrency market may be limited; the scale of bankruptcies of subsequent companies associated with this exchange will be of crucial importance. It is estimated that Sam Bankman-Fried, FTX and the Alameda Research fund could be linked to over 150 other entities in the industry. This also meant that many of them were on the verge of bankruptcy almost overnight. So it is far too early to open the champagne and announce another bull market. In practice, there is still a high probability of further sale-off not only of BTC but also of the vast majority of cryptocurrency projects. According to the popular opinion that "after every storm, the sun comes out", and just like in previous years, when after each of the previous bubble bursts, the cryptocurrency market returned to the path of growth, breaking new ATH; it can be expected that this time it will be similar, although probably we'll have to wait a little longer for that. Several factors may account for this: First, every topic, including every problem, sooner or later becomes commonplace, and the financial markets pass over it daily. This was the case with the collapse of Mt.Gox in 2014 (the largest cryptocurrency exchange in the world at that time) or QuadrigaCX in 2019 (the largest cryptocurrency exchange in Canada, about which Netflix even made a documentary). Second, the Federal Reserve is nearing the end of its monetary policy tightening cycle, and while Fed interest rates are likely to remain high for most or even all of 2023, in 2024, the Fed is likely to embark on an easing cycle that, like in 2020, could contribute to the growth rally on risky assets such as stocks or cryptocurrencies. Ethereum (ETH) Ethereum's quotations fell between November 4 and 9 by over 36%, and then, driven by an extremely optimistic report on CPI inflation in the US, they rebounded by almost 26%, thus leading to a re-test of previously defeated support (now resistance). This increase, however, lasted only one day and then from November 11th this year. The ETH rate fell again, returning to the USD 1100 region, where on November 22nd, there was a demand reaction again. Later increases, however, stopped near the local resistance of USD 1,220, where, in turn, there was already a slight supply reaction last weekend. If only this barrier is rejected, the rate of this cryptocurrency could fall again to the region of USD 1,100 or even further to USD 990. Bitcoin Cash (BCH) Bitcoin Cash fell by nearly 31% between November 5th and November 9th, falling to the lowest level since December 2018. Similarly to BTC and ETH, in reaction to the US CPI inflation report published on November 10th, it went up by over 22%. It is worth noting that although the increase stopped for several days in the area of ​​the previously defeated support of USD 106, this resistance was finally overcome, and the BCH rate reached almost USD 120. However, the downward trend observed for several days meant that we are now witnessing another test of support in the area of ​​106 USD. Therefore, there are many indications that we will observe some trend (up or down) in the near future, it will directly depend on the reaction (demand or supply) that will appear in the vicinity of the currently tested support, signalling its potential rejection will be defeated. A break below this level could open the door for further declines below USD 90. At the same time, the emergence of greater demand pressure and a rebound from the currently tested zone could serve as an impulse for another increase towards USD 125. Litecoin (LTC) Litecoin's quotations collapsed between November 7 and 9 this year by more than 35 per cent. This sell-off stopped only in the area of ​​technical support in the area of USD 50, where on November 10th, there was quite an apparent demand pressure. However, due to the subsequent appreciation, the LTC exchange rate increased by over 74 per cent, more than making up for earlier losses. It is worth noting that this increase led to overcoming the technical resistance levels of USD 64.50 and USD 73. It stopped only in the area of ​​the uptrend lines tested from June to September, where a supply reaction appeared a few days ago. The ongoing declines since then led to a re-test of the previously broken $73 resistance. However, the LTC rate will drop below this barrier soon. In that case, we could expect its further depreciation towards USD 64.50 and measuring a 50% Fibonacci retracement from the previous upward move. Polygon (MATIC) After bouncing off the $1.30 technical resistance, the Polygon (MATIC) cryptocurrency fell more than 41% between November 5th and November 9th. Although on November 10th, this cryptocurrency made up for the vast majority of these losses, increasing by over 52%, we have been observing its decline again since November 11th. It is noteworthy that the MATIC exchange rate recently fell below the local support of USD 0.87, which remains until today. If the declines continue, in the near future, we could expect technical support to be re-tested in the region of USD 0.74 or, even further, USD 0.61. XRP XRP fell between November 5th and November 9th by more than 38%. This sell-off led to breaking the horizontal support in the region of USD 0.42 and stopped only around the next significant level of USD 0.32, where on November 10th, there was an apparent demand reaction. Since then, the XRP exchange rate has alternately fallen and increased, staying in the range of USD 0.32 to USD 0.42. Therefore, taking into account its rebound from the upper limit of this range, observed last Saturday, we could expect another drop towards USD 0.32 in the coming days or possibly even to USD 0.30, where the next level of support is located. EOS Looking at the EOS quotes, we will notice that the exchange rate of this cryptocurrency has been in a horizontal trend between the support of USD 0.80 and the resistance of USD 1.00 for over two weeks. Taking into account the supply reaction that appeared last weekend around the upper limit of this system, over the next few days, we could expect further declines towards its lower limit, i.e. to the support of USD 0.80.
The G20 And IMF Are Already Preparing Their Crypto Regulation

Bitcoin And Ethereum Have Managed To Retain Their Positions As The Top Two Cryptocurrencies

ByBit Analysis ByBit Analysis 29.11.2022 13:39
Interest in cryptocurrencies has fluctuated over the past few years as wealth flows into the cryptocurrency market with every bull cycle, creating millionaires. What has remained constant despite the surge of new cryptocurrencies is the market dominance of Bitcoin, still the most valuable crypto since its launch. In recent years, Ethereum has become the strongest competitor for market share, grabbing the reins and overtaking Litecoin. As cryptocurrencies vie for market share, Litecoin has managed to remain within the top twenty in terms of market capitalization, even after a decade. To learn more about these three cryptocurrencies, please refer to these following articles: What Is Bitcoin? What Is Litecoin? What Is Ethereum? In this article, we’ll be looking at the differences between these three cryptocurrencies, particularly regarding consensus mechanism, hash algorithm, distribution, transaction speed and use cases. Growth of the Cryptocurrency Market Bitcoin was founded in 2009. Since then, the cryptocurrency market has arguably gone through three bull markets, specifically in 2013, 2017 and most recently in 2020, a particularly prominent year with various altcoins reaching all-time highs alongside Bitcoin’s ATH of $69,000 in November 2021. Other crypto market catalysts have included the DeFi Summer of 2020 and the market adoption of non-fungible tokens (NFTs). In addition, the periodic emergence of meme coins such as Dogecoin and Shiba Inu (in 2013 and 2020, respectively) has expanded the crypto market. The expectation of widespread crypto adoption is also a major factor in the growth of the cryptocurrency market. International firms have incorporated cryptocurrency into their operations in recent years, including payment giant PayPal. With such developments, the market adoption of cryptocurrency has grown, with consumers’ awareness increasing. Why Is Bitcoin So Popular? Cryptocurrencies have existed for well over a decade. Yet, through all of the rapid developments in the crypto market, Bitcoin still remains the dominant cryptocurrency. It runs on a blockchain, a decentralized publicly distributed ledger that contains encrypted records of every transaction that’s ever been made on the network, thus ensuring data security. Bitcoin’s underlying blockchain technology enables peer-to-peer transactions and eliminates the need for control by governments or other centralized financial institutions.  The surge in Bitcoin’s popularity is also attributed to the profits it’s brought about for its investors. With a stunning 69,000% increase in price from $100 in 2013 to $69,000 in 2021, Bitcoin successfully captured the market’s attention. At the same time, altcoins (cryptocurrencies other than Bitcoin) have also begun gaining bigger market share, the most prominent one being Ethereum, which has risen in the ranks to claim second place in overall market cap.  Litecoin, previously ranked second in market cap right behind Bitcoin, has been overtaken by multiple new cryptocurrencies, but has still managed to remain within the top twenty cryptos by market cap. In addition, its token, LTC, has recently gained the market’s attention once again as its price rose by 35% in just one week in the midst of an ongoing bear market. Litecoin vs. Bitcoin vs. Ethereum Bitcoin, Litecoin and Ethereum are all open-source software platforms, and their codes are publicly accessible. Despite all three cryptocurrencies being blockchain-based, there are certain underlying differences between them. Details Let’s start off with some specific details pertaining to each of these cryptocurrencies. Consensus Mechanism Since blockchains are publicly shared ledgers, they require an effective, fair, real-time, dependable and secure mechanism to ensure that all transactions taking place on the network are genuine. The consensus mechanism is essentially a set of guidelines to determine the validity of contributions made by the participants of the blockchain. In a blockchain’s dynamically changing environment, all participants have to agree on a consensus on the ledger’s status before transactions can be confirmed There are two main types of consensus mechanisms: Proof of work (PoW) and proof of stake (PoS). Using PoW, Bitcoin and Litecoin rely on miners, who solve complex mathematical equations using specialized hardware to add blocks to the networks. On the other hand, the Ethereum blockchain uses PoS, whereby validators stake their currency to validate new blocks on the blockchain. PoS requires significantly less computational power than PoW, which lowers both hardware requirements and energy consumption. Hashing Algorithm A hashing algorithm, which determines how incoming data is incorporated and verified on a blockchain, differs for the three cryptocurrencies. Bitcoin makes use of the SHA-256 algorithm and Litecoin uses Scrypt, while Ethereum previously relied on Ethash, no longer relevant since the network has switched to PoS as a part of its Ethereum 2.0 upgrade. The SHA-256 algorithm utilized by Bitcoin uses the computational power of GPUs (graphics processing units) and, to a lesser extent, CPUs (central processing units) to verify transactions and blocks. The most common method for Bitcoin mining consists of the use of application-specific integrated circuits (ASICs), a hardware system that can be tailor-made to mine Bitcoins. However, many people prefer not to use ASICs because they’re expensive, challenging to maintain and necessitate specialized knowledge. Bitcoin mining has become more centralized and exclusive, as fewer people have the skills, resources and time to buy, set up and maintain ASICs. This compromises the security and resilience of the network. Scrypt is a modified version of SHA-256, but is more memory-intensive, which is reputed to lessen its reliance on GPU arithmetic logic units (ALUs) and, consequently, ASIC mining equipment. Scrypt aims to make mining more accessible to individuals, as not all users can afford hardware equipment such as ASICs. This contributes to the decentralization of a network. Nonetheless, ever since Scrypt ASIC mining machines were built in 2021, Litecoin mining has once again fallen under the control of a few dominant players. Distribution Bitcoin (token: BTC) and Litecoin each have a supply cap on their number of tokens, with Bitcoin’s set at 21 million and Litecoin’s at 84 million. Since Litecoin has four times the supply of tokens, its network possesses greater liquidity as compared to Bitcoin. However, the scarcity of Bitcoin makes it more valuable. Ethereum, on the other hand, doesn’t have any ceiling for its supply of ETH. Nonetheless, its rate of growth is limited to 4.5% per annum. Mining Rewards Miners are rewarded for their efforts in the form of a blockchain’s native currency.  In 2009, Bitcoin started off with a 50 Bitcoin reward per block mined. After going through three halvings, the reward is now set at 6.5 BTC. Similarly, Litecoin began with a reward of 50 LTC per block mined. Following two halvings, the current reward stands at 12.5 LTC per block, with a third halving scheduled for 2023, which will reduce the reward to 6.25 LTC. These rewards are halved in order to limit the quantity of each cryptocurrency released into the circulating supply, thus creating scarcity. Bitcoin block rewards are halved every 210,000 blocks, while Litecoin block rewards are halved every 840,000 blocks. This difference is due to the different supply cap. Since Ethereum now utilizes a PoS consensus mechanism, there are no rewards for block mining. Instead, participants are rewarded by staking their Ether on the network to participate in block validation. Depending on the staking program in which users choose to participate, their rewards can fluctuate anywhere from 2% to 20%. Transaction Speed Another significant difference among the three cryptocurrencies lies in their transaction speeds, or TPS. Bitcoin processes approximately 5 TPS, and takes about 10 minutes to create a new block. In addition, Bitcoin software limits the size of a new block to 1MB. Not all Bitcoin transactions are processed within ten minutes. This is especially the case when the network is congested, due to a large number of transactions. Litecoin processes 54 TPS, taking approximately 2½ minutes to create a new block. Transactions on Litecoin are roughly four times faster than Bitcoin’s. As a result, Litecoin is often regarded as a currency for day-to-day transactions, while Bitcoin is considered to be more of a store of value. With its recent upgrade (The Merge), the Ethereum network is now able to handle up to 100,000 TPS.  Transaction Fee Bitcoin: ~$1 Litecoin: ~$0.012 Ethereum: Ethereum employs a different mechanism, called gas, in place of transaction fees. The amount of computational work necessary to complete a transaction is measured in gas. On the Ethereum network, users must pay gas fees in order to complete a transaction. They’re correspondingly assessed a gas fee for each individual transaction. Network Scalability One of the biggest issues for the Bitcoin network is scalability. The more users trying to send funds over the network at a given moment, the more congested it becomes. Since transaction fees are defined on the basis of an auction, those who make higher bids get their transactions confirmed first. This leads to high network fees and longer confirmation times. Though Litecoin has much lower fees, its network experiences the same problem. To speed up transaction time and lower transaction costs, Bitcoin and Litecoin have implemented some improvements. Among these are SegWit, which increases the block size limit by pulling signature data from transactions, and Lightning Network, which keeps transaction data off the blockchain. Since Ethereum has switched over to PoS, problems with scalability aren’t as prominent. However, scalability has been a major issue for the popular Ethereum network while it was using a PoW consensus. Layer 2 solutions were implemented as a partial remedy for Ethereum’s former transaction rate of 12–15 TPS. Use Case The use cases for each of these three cryptocurrencies differ quite drastically. Bitcoin: Bitcoin was created as a form of technology to allow for decentralized peer-to-peer (P2P) payments. However, its slow transaction speed makes it impractical for daily use, and it’s been referred to as digital gold, serving primarily as a store of value. Litecoin: Litecoin was forked from Bitcoin’s code to tackle issues of cost and scalability. These differences make Litecoin more favorable for merchants, since payments and transactions can be carried out quickly at a cheaper rate. Ethereum: Ethereum focuses on smart contracts, transfer of asset ownership and DApp (decentralized application) production. Smart contracts are software programs that take action when specific criteria are met. This procedure makes sure that every Ethereum transaction is secure for the user. Additionally, exchanges like the transfer of property or the exchange of money may be included in the contracts. Ethereum’s unique feature is that it allows programmers to directly interact with its underlying network, a capability that Bitcoin and Litecoin do not support. Should You Invest in Any of These Coins? The cryptocurrency market changes very rapidly, making it difficult for investors to choose the best investment options. With all the hype around the industry, many people are wondering if they should invest in either Bitcoin, Litecoin or Ethereum. New currencies are created in the market every month, and there’s no guarantee they’ll remain popular. Still, the three dominant currencies compared in this article have a strong user base, experienced developing teams and are available on most exchanges. All three of these currencies have already proven to be profitable for investors, and to have a good chance of growth in the next few years. Closing Thoughts The cryptocurrency landscape has changed drastically since its inception. Recently, more attention has been brought to the regulatory environment surrounding crypto. Despite all of this change and uncertainty, Bitcoin and Ethereum have managed to retain their positions as the top two cryptocurrencies by market cap. Litecoin, on the other hand, is no longer within the top three, but still holds its position among the 20 largest cryptocurrencies.  The crypto market is indeed an exciting one, with great potential despite its volatility and associated risks. If you’d like to take part in the market, sign up with Bybit today.
The Bitcoin Price Movement Is In The Bullish Channel

Wow! Bitcoin trades at ca. 75% lower level than... a year ago...

Craig Erlam Craig Erlam 29.11.2022 22:03
Investors in Europe remain in a cautious mood on Tuesday as they await a huge influx of economic data in the coming days, while US futures are also pointing to modest gains ahead of the open. Stocks in China soared after a difficult start to the week, on the hope that the country’s zero-Covid policy stance may be relaxed further. That had been the expectation in recent weeks, with a modest softening recently seen being followed by a more substantial shift in the spring. But protests in recent days on the back of record Covid cases and tighter restrictions could have gone either way and that made investors extremely anxious on Monday. While I can imagine the path from zero-Covid to zero restrictions will be long and full of potholes and hurdles, the response to the unrest has appeared more promising than feared. It may well be that the leadership had already been gauging the public mood on restrictions and had, as has been rumoured, already been planning its exit strategy which recent comments align with. Either way, it appears zero-Covid has reached a crossroads and the direction of travel now will determine investor appetite toward Chinese stocks going into 2023. Today’s rebound suggests there’s some optimism. Choppy and vulnerable Bitcoin has also reversed its Monday losses, rallying 1.5% so far today. The cryptocurrency has remained volatile in the aftermath of another plunge following the FTX collapse and now trades more than 75% from its highs just over a year ago. Even now it remains vulnerable as we continue to discover what the full contagion effect will be and what else will be uncovered. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. A promising response to protests - MarketPulseMarketPulse
Changing correlation of Bitcoin and US stocks. Brazil: Lower house of Congress approved crypto regulation bill

Changing correlation of Bitcoin and US stocks. Brazil: Lower house of Congress approved crypto regulation bill

ByBit Analysis ByBit Analysis 30.11.2022 12:24
Top Spot      Litecoin (LTC) is the third largest proof-of-work (PoW) token by market capitalization, trailing behind Bitcoin and Dogecoin. Litecoin has outperformed most top PoW tokens due to anticipation around its upcoming halving that is slated to happen in August 2023. Litecoin was created based on Bitcoin but differs with shorter block time and lower transaction fees, making it a better fit for on-chain payment functions. Litecoin is our top pick of PoW tokens due to two reasons.    First, in the previous halving cycles, Litecoin had established price bottoms four and nine months prior to the actual halvings respectively. If history is any indication, LTC’s price will likely see a positive price trend in the eight months that lead to the imminent halving. Second, as on-chain activities have shrunk due to an extended bear market, alternative Proof-of-Stake (PoS) chains have lost their luster as users focus on decentralization instead of utility. Centralized PoS chains can mint tokens if needed during a liquidity crisis, leaving investors at risk of seeing tokens drop to zero. In comparison, the minting schedule of PoW tokens like Litecoin is stipulated at the genesis and is immune from the supply shock risk.   Bybit offers Zero Fees for All spot pairs! Check Out the Latest Prices, Charts, and Data for LTCUSDT!   Chart of the Day      Stocks closed lower on Tuesday as traders tread cautiously ahead of Federal Reserve Chair Jerome Powell’s speech on Wednesday, which will likely cement expectations of slowing the pace of rate hikes. The broader crypto market extends its rally into early Wednesday (Asian trading hours), with major cryptocurrencies staging a strong comeback from Monday’s fall, in spite of the latest implosions. In light of the recent crypto-specific contagion, correlations between BTC and US equities, be it long-term rolling correlations or intraday price patterns, have declined significantly. BTC’s drawdown from its ATH and drained liquidity may have led to stickiness of a weaker correlation, as its price became less sensitive to improvements in macroeconomic data. However, nonfarm payrolls and Powell’s speech this week will provide clues as to whether the structural correlations have indeed softened.    As of the time of writing, BTC is charging at the $17k handle, after a 4.4% jump in the last 24 hours. A successful breakout above this resistance zone will likely usher in a new round of momentum for the largest cryptocurrency. ETH fares even better. The second-largest cryptocurrency by market cap is changing hands at the upper region of the $1,200 handle, after rising by 7.6% in the same period. Major altcoins spent another day in the green, with Huobi Token leading the pack on a double-digit percentage gain. The jump is related to Huobi’s latest announcement of airdropping the new “Dominica coin”, which is set to launch on the Tron blockchain.          Talk of the Town      After a series of twists and turns over the past seven years, Brazil’s lower house of Congress finally approved a long-awaited crypto regulation bill that aims to boost oversight of the country’s cryptocurrency sector. The bill will pass to outgoing President Jair Bolsonaro, whose term ends on December 31,  2022, for approval. The regulation serves to define digital assets and their service providers, while subjecting the sector to oversight by a government-appointed federal agency. It also recognizes BTC as a digital representation of value that can be used as a means of payment and an investment asset in the South American nation. The move is a response to the collapse of FTX and affiliated institutions earlier this month, and a contingency of the nation’s expanding crypto market, as Brazil becomes a top-ranking nation on Chainalysis’s latest Global Crypto Adoption Index.      Market Check Source: Bybit Blog | BTC Correlations with TradFi Drop; Brazil Backs Law for More Crypto Regulation
Bitcoin Has Made A Dynamic And Aggressive Reversal

The Crypto Market Saw A Recovery Last Week

InstaForex Analysis InstaForex Analysis 30.11.2022 14:32
Crypto Industry News: The crypto market saw a recovery last week as Bitcoin (BTC) showed resilience amid heightened uncertainty from the ongoing FTX implosion and unrest in China. After reaching a local peak of $16,744 on Nov. 24, Bitcoin started a gradual decline amid a wider slowdown in market activity as the U.S. celebrated its annual Thanksgiving holiday. BTC price slumped to the $16,000 level in the late hours on Nov. 27 as protests in China against Covid restrictions sparked investor anxiety in global markets. Even though Bitcoin held firmly above the $16,000 mark, it spent Monday in the red as the news of crypto lending firm BlockFi's bankruptcy filing broke. Yet, BTC shrugged off the negative news to see a late-day rally that sent it into positive territory. Overall, the largest cryptocurrency was rangebound in the $16,000-$17,000 zone, closing the week with a 4.4% gain. Technical Market Outlook: The Bitcoin bulls bounced above the local trend line resistance and made a new local high at the level of $17,079, however, there is no follow up with this move up so far as the market keeps trading back inside the old, narrow range. The next technical resistance is seen at $16,793. The momentum bounce from the extremely oversold market conditions was very short-lived and now the indicator is back under the level of fifty. Whipsaw trading conditions inside the range continue. There is no indication of the down trend on Bitcoin to terminate or reverse, so the next target for bears is seen at the level of $13,563 (2019 high).     Weekly Pivot Points: WR3 - $17,057 WR2 - $16,628 WR1 - $16,391 Weekly Pivot - $16,199 WS1 - $15,962 WS2 - $15,770 WS3 - $15,340 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term. Relevance up to 09:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303164
According To Cory Klippsten Etherum and Solana are "bad coins"

According To Cory Klippsten Etherum and Solana are "bad coins"

InstaForex Analysis InstaForex Analysis 30.11.2022 14:38
Crypto Industry News: Etherum is a 'fraud' that will eventually 'explode' like FTX as Bitcoin becomes the primary global form of money According to Cory Klippsten, CEO and founder of Swan Bitcoin, in the long run, BTC will become the primary form of money in the world, replacing the US dollar and other fiat currencies and beating altcoins: "It is very likely that Bitcoin will continue to grow in size, market capitalization, price and purchasing power for decades and become the world's money, which is likely to replace the US dollar in the long run," he said. 30 years, but it could also be something that won't happen until the next century." Suggesting that altcoins like Etherum and Solana are "bad coins", Klippsten stated that unlike Bitcoin, they cannot hope to become a form of money. He also said that Ethereum is a "scam" that will eventually "go up in the air." "Someone can issue and control the money supply in these altcoins and change the code whenever they want," he stated. . Klippsten, who correctly predicted the fall of Celsius, Luna/UST, and FTX, spoke to Michelle Makori, editor-in-chief at Kitco News. Technical Market Outlook: The Ethereum cryptocurrency has been seen moving higher as the bounce continues above the level of $1,231. The recent local high was made at the level of $1,280 (at the time of writing the article), however, the market has entered an extremely overbought levels. The intraday technical resistance is located at $1,1288. The momentum is strong and positive, so the move up is backed up by bulls. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend.     Weekly Pivot Points: WR3 - $1,253 WR2 - $1,213 WR1 - $1,190 Weekly Pivot - $1,173 WS1 - $1,150 WS2 - $1,133 WS3 - $1,093 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303166
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Will Bitcoin's Bulls Be Strong Enough?

InstaForex Analysis InstaForex Analysis 30.11.2022 14:49
  Green line -Fibonacci retracements Red line- resistance trend line Bitcoin is trading around $16,840 after reaching as high as $17,080. Bitcoin price broke above the short-term downward sloping resistance trend line we mentioned in our previous analysis. Bitcoin reached once again the 23.6% Fibonacci retracement. For the last two weeks price has been trading inside a trading range and we are now challenging the upper boundary of this trading range. Will bulls prove strong enough to break above it? If the 23.6% retracement level is broken upwards, then we expect Bitcoin to move towards the 38% Fibonacci level at $17,790. A rejection at $16,930 where the 23.6% retracement is found, could lead to a pull back towards $16,400-$16,500. Support is found at $16,330 and a break below it would be a sign of weakness. Relevance up to 14:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303196
Earning on the cryptocurrency market - mining, staking, NFTs and more

Earning on the cryptocurrency market - mining, staking, NFTs and more

FXMAG Education FXMAG Education 30.11.2022 17:00
Introduction Investing is a difficult art of choice, one that can bring a quick fortune or an equally quick bankruptcy on the cryptocurrency market. This text will outline the most popular methods of making money in the crypto market. First it is necessary to start with the basic concepts and general understanding of the topic, we will not propose how to assemble your first miner nor what is the most profitable form of staking, but we will quickly organize our knowledge about investing capital in the cryptocurrency market, so that at least at this stage you do not repeat that Cryptocurrency is just a bet and a matter of luck if the project you've gotten yourself into will shoot enough into space. Earning on the crypto market The basic method of earning on the cryptocurrency market i.e earning on a change in value. This refers to a change in value because currently, we have tools that give us the opportunity to earn not only on increases but also on decreases in the prices of some cryptocurrencies. It is the dynamic increase in cryptocurrency prices that is the main reason there are so many cryptocurrency millionaires. Just like other assets, such as gold, cryptocurrencies such as bitcoin have been wrapped in various types of financial instruments. Thus, first of all, it is possible to buy real cryptocurrencies, i.e. those that can be stored, for example, on hardware wallets. If we had to compare it to popular investments, we would say that it is the same as buying gold in physical form. With the rest of these comparisons to the gold market, there will be definitely more. In the case of such a purchase, of course, we limit the loss only to the size of our investment. We can call such a purchase of real cryptocurrencies a spot transaction, and cryptocurrencies can be purchased directly from another user or using a cryptocurrency exchange such as the Binance Exchange. But in order to earn on the exchange rate difference, increase or decrease, it is not necessary to have elementary knowledge about the functioning of the cryptocurrency market. There are plenty of intermediaries in the form of brokers, not cryptocurrency exchanges who give us the opportunity to invest and receive advice. Of course, this is referring to CFD instruments. However, it should be remembered that brokers in the case of this type of instruments earn primarily from your losses, and the spread that they offer, i.e. the difference between the purchase and sale price, can be really large, which often excludes, for example, concluding transactions for a short period. Cryptocurrencies have also been packaged in futures contracts, i.e. futures contracts. CFDs and futures give us the opportunity to earn even faster on the price change through the leverage mechanism. However, this is a double-edged sword, so if you are a beginner in the cryptocurrency market, make a transaction on the spot market first. When it comes to financial instruments, Bitcoin and other cryptocurrencies can be purchased by investing in a passive investment fund, or ETF. And finally, cryptocurrencies are also options speculation. Which requires much more knowledge from us, and not the one related to the cryptocurrency market . Investing methods when it comes to cryptocurrencies Hence, the first method of earning on the crypto market is primarily the purchase or sale of cryptocurrencies or financial instruments that are based on this market. How long it will hold its cryptocurrencies will determine whether we are short, medium or long-term investors (on the crypto market, the latter are the so-called holders). As in the case of gold, in the case of cryptocurrencies there is a process of mining or digging cryptocurrencies. This analogy to the gold market fits perfectly into the idea of cryptocurrencies. After all, these assets were supposed to be an alternative to the system of fiat currencies that departed from the gold standard, The concept of cryptocurrency mining Instead of a shovel, we need a computer with adequate computing power that uses energy instead of hand strength. This computer will solve complex algorithms as a result of which we will receive a certain number of cryptocurrencies. Therefore, mining requires an investment in equipment, and in the process itself which will require costs that are related to powering the computer, which may force investors to sell cryptocurrencies on a regular basis to pay, for example, electricity bills. Staking cryptocurrencies The third interesting way to earn money on the cryptocurrency market is staking. Staking is nothing more than blocking your cryptocurrencies in the appropriate cryptocurrency network, thanks to which we receive interest depending on the amount of the rate set by the network. Staking enhances certain factors, such as network security, the same way money on deposits enhances the security of a given bank. Not all cryptocurrencies undergo this process. But if you want to see the potential of this method, then jump on the website binance.com Earnings tab. In a normal world, a person can earn on their capital by making it available, of course, we are talking about loans. The world of cryptocurrencies also gives us this opportunity with the help of DeFi, i.e. the decentralized finance sector. NFTs as an investment And finally, another method of earning on this market is the creation of cryptocurrencies or tokens (such as a NFT), which do not necessarily have to be created from scratch, because we can use ready-made solutions, but in this case we have to make sure that our project is noticed by other market participants. The world of cryptocurrencies (if it is technologically innovative) in terms of earning methods does not differ much from those methods that we have known for hundreds of years. And as with gold, you can decide whether you want to buy a gold bar, a virtual position in the gold market, you want to buy a shovel and look for gold, or maybe you want to buy shares in a gold mine, or you want to team up with others to look for gold, or maybe you want to lend money to those who go look for gold and in the world of cryptocurrencies you will find equivalents of this type of capital investment.
ADP Non-farm payrolls jobs market data show a growth of 127K, much less than the previous print

ADP Non-farm payrolls jobs market data show a growth of 127K, much less than the previous print

Ed Moya Ed Moya 30.11.2022 18:51
US stocks are entering a holding pattern ahead of Fed Chair Powell’s speech as some investors look for him to somewhat ease up on the hawkish rhetoric. ​ The economy is weakening and traders want to see the Fed Chair deliver a clear message that they will downshift their pace of tightening and are close to hitting the breaks. ​ No one wants to put on a major position before Powell and they probably won’t if he sticks to his script that the pace of hikes will slow but they still have more to do to bring inflation down. Wall Street is still rather pessimistic on stocks and many traders might focus on going defensive. ​ US Data Private payrolls showed job growth is slowing. ​ The November ADP payrolls report showed an increase of 127,000 jobs, down from the 239,000 prior reading and well below the 200,000 consensus estimate. ​ ADP Chief Economist Richardson noted, “our data suggest that Federal Reserve tightening is having an impact on job creation and pay gains.” Manufacturing jobs declined by 100,000, while leisure and hospitality jobs rose by 224,000.  ​The holiday factor could be driving some of these service sector jobs so the January report could be when we see a significant slowdown with hiring. ​ The second look at Q3 GDP showed upward revisions, but core growth is slowing and supporting the idea that inflation is weighing on both business and consumer spending. ​ The economy is still expected to have weakening economic data points going forward as the impact of Fed rate hikes starts to be felt. ​ A soft landing or a short and shallow recession still seems to be the favorite scenarios for how 2023 will be. ​ Bitcoin Bitcoin is higher as Wall Street enters a holding pattern ahead of Fed Chair Powell. ​ The news flow has been plentiful, mostly downbeat for cryptos but the focus is shifting on the future of crypto legislation. ​ Pressure is growing for some clear direction on how to put guidelines to avoid another FTX moment. ​ There will still be a lot more pain that comes from the FTX collapse but for now, that seems to be mostly priced in. Over the next couple of weeks, we should start to get an idea of how crypto legislation will look and that should ultimately be long-term positive for the cryptoverse, but it could put added strain on some struggling crypto companies or stablecoins. ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Stocks await Powell, US data, crypto focus shifts to legislation - MarketPulseMarketPulse
Bitcoin Is Showing A Good Sign For The Further Rise

The Post Of The ECB Made The Crypto Community's Reactions

InstaForex Analysis InstaForex Analysis 01.12.2022 08:53
Crypto Industry News: In light of the recent collapse of FTX and the liquidity scandal, regulators in the European Union have joined other global regulators in pushing for clearer guidelines and regulations for cryptocurrencies. The European Central Bank (ECB) published a post on November 30 titled "Bitcoin's last stand", which summed up Bitcoin's financial career with current price volatility. However, instead of drawing an objective picture of the cryptocurrency history so far, he only presented its disadvantages. Written by Ulrich Bindseil and Jurgen Schaaf, director general and advisor to the ECB, the article says the digital currency is "on the road to insignificance." He also claimed that BTC is rarely used for legal transactions, and that the attention from regulators around the world could be "misunderstood as approval." In addition, he warned banks against interacting with the digital currency as it could damage their reputation. However, where there are libels against crypto from traditional, centralized financial institutions, there are defenders. The crypto community is always ready with answers to bust myths and defend their assets. The tweet from the ECB itself received hundreds of responses, and the cryptocurrency community verified the claims made in the article and emphasized the origin of its authors. Technical Market Outlook: The Bitcoin bulls bounced above the local trend line resistance and made a new local high at the level of $17,248. The BTC spiked up over 11% already and the next technical resistance is seen at $17,600. The immediate technical support is seen at $16,984 and $16,793. The momentum is strong and positive, but the market conditions are now extremely overbought on the H4 time frame chart. There is no indication of the down trend on Bitcoin to terminate or reverse yet, so the next target for bears is seen at the level of $13,563 (2019 high). Weekly Pivot Points: WR3 - $17,057 WR2 - $16,628 WR1 - $16,391 Weekly Pivot - $16,199 WS1 - $15,962 WS2 - $15,770 WS3 - $15,340 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 2022-12-02 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303323
FX Daily: Upbeat China PMIs lift the mood

The Signals Coming From China Look Very Positive

Craig Erlam Craig Erlam 01.12.2022 13:04
We’re seeing green flashing across the board on Thursday, with sentiment buoyed by positive signals on Fed rate hikes and China’s Covid response. While it could be argued that Jerome Powell’s comments on Wednesday were relatively balanced – slower tightening now but rates high for longer – the last year has proven that anticipating the path of inflation for even a short period ahead is incredibly difficult. Knowing what the Fed intends to do next is far more valuable than what it thinks it may do 6-12 months down the line. And anything that is perceived to reduce to possibility of an interest rate recession is going to be a positive for equity markets. The Fed has every opportunity to tighten more in the months ahead if the data doesn’t play ball. What’s far more difficult is undoing the damage caused by moving too fast now with little to no visibility on how impactful past tightening has been. Positive signals The signals coming from China also look very positive. While we shouldn’t expect a dramatic shift in policy from the leadership, particularly before the March Congress, any modest softening in its Covid-zero policy will and should be welcomed. The approach has been extremely damaging to growth and confidence and the protests highlight how public opinion towards it is changing. We shouldn’t be naive to the fact that a move away from the policy won’t be easy and there’ll be plenty of setbacks. But it’s certainly a step in the right direction that, along with the measures announced to revive the property market, could put the economy on a much better path. Some relief for cryptos The risk relief rally is coming at just the right time for bitcoin, helping it to recover from the lows to trade around $17,000. This is around the highs of the last few weeks since it settled after its latest plunge. Whether it will be enough to revive interest in the cryptocurrency, I’m not sure. The FTX fallout is continuing to weigh heavily on the space and the prospect of more contagion or scandals is hard to ignore. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Bitcoin Maintains A Steady Bullish Potential

Telegram's Next Step Is To Introduce Various Decentralized Tools

InstaForex Analysis InstaForex Analysis 02.12.2022 10:04
Crypto Industry News: Pavel Durov, the founder and CEO of the Telegram application, believes that the demise of FTX happened because the blockchain industry recently moved away from its decentralized nature. He argued that several people abused power, which led to a spectacular implosion. The Russian-born entrepreneur said Telegram's next goal is to create unattended wallets and decentralized exchanges so that crypto traders can have maximum protection when operating in the sector. According to Durov, such unlucky situations as with FTX will be eliminated if blockchain-based projects return "to their roots - decentralization." "Cryptocurrency users should switch to 'no trust' transactions and self-hosted wallets that do not rely on a third party," Durov said. Durov called on developers to create "fast and easy-to-use decentralized applications for the masses." He said it only took five weeks to build Fragment, a fully decentralized blockchain platform powered by The Open Network. He added that Fragment has been quite successful, selling around $50,000 worth of usernames in less than 30 days. The Russian assured that Telegram's next step is to introduce various decentralized tools, such as unattended wallets and a decentralized exchange for "millions of people." Technical Market Outlook: The BTC/USD pair has hit the projected target at the level of $17,310 as expected. The BTC spiked up over 11% already and the next technical resistance is seen at $17,600. Currently, the market is making a local pull-back and the immediate technical support is seen at $16,984 and $16,793. The momentum is strong and positive, but the market conditions are now extremely overbought on the H4 time frame chart. There is no indication of the down trend on Bitcoin to terminate or reverse yet, so the next target for bears is seen at the level of $13,563 (2019 high). Weekly Pivot Points: WR3 - $17,057 WR2 - $16,628 WR1 - $16,391 Weekly Pivot - $16,199 WS1 - $15,962 WS2 - $15,770 WS3 - $15,340 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-12-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303491
The Commodities Feed: OPEC+ meeting ahead

Oil Bulls In Charge Before OPEC Meeting | Equities Posted Timid Gains

Swissquote Bank Swissquote Bank 02.12.2022 10:16
Sentiment was mixed at yesterday’s trading session. Equity bulls were timid, while the dollar bears were in charge of the market after the latest PCE data, which is the Fed’s favorite gauge of inflation showed that the core PCE index slowed more than expected in October. USD The softening inflation sent the US dollar index tumbling below its 200-DMA for the first time since summer 2021. The US dollar index slipped below its major 38.2% Fibonacci retracement on 2021-2022 rally, and stepped into the bearish consolidation zone. Finally! Markets Trading in equities was much less festive than the FX yesterday, as the ISM manufacturing index warned that the US manufacturing activity fell below 50, the contraction zone, for the first time since summer 2020.Today, the much-expected jobs data should determine whether the S&P500 deserves to quit the ytd negative trend, or stay in it. How strong, or soft the NFP data should be to keep the equity rally going? Watch the full episode to find out more! 0:00 Intro 0:38 US dollar tumbled on soft PCE data 3:51 But equities posted timid gains on ugly ISM figure 4:44 What NFP print could help the S&P500 extend gains? 6:31 Gold broke important technical resistances 7:11 Oil bulls in charge before OPEC meeting, Russian price cap 8:12 Bitcoin rallies past $17K 9:02 Blackstone limits withdrawals from its real estate fund. Ouch. Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #USD #NFP #jobs #unemployment #PCE #data #Powell #speech #economic #data #EUR #GBP #JPY #XAU #crudeoil #EU #Russia #oil #cap #OPEC #Bitcoin #Blackstone #realestate #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq  Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Bitcoin Has A Sign That Buyers Are In Control

InstaForex Analysis InstaForex Analysis 02.12.2022 10:28
Technical analysis: BTC has been trading sideways at the price of $17.000 but there is the breakout of the supply trend-line in the background, which is sign that buyers are in control. Trading recommendation: Due to the breakout of the supply trendline in the background, I see potential for furtehr growth. Watch for the potential buying opportunities on the intraday dips with the next main upside objective at the price of $21.350. MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control. Key support is set at the price of $16.000 Relevance up to 09:00 2022-12-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303495
Taking care of cryptocurrencies - ByBit highlights talks safety measures

The leading cryptocurrency gains from dovish Fed signals

FXStreet News FXStreet News 02.12.2022 15:31
Bitcoin price jumps for the week and breaks away from the $16,000 level. BTC enjoys tailwinds as the Fed has communicated that it will hike less aggressively. Markets are rallying and are set to see a Christmas miracle for their performance. Bitcoin (BTC) price has seen bulls shooting out of the gates this week as a sudden wave of positive news swamped the markets. Not only is Germany near signing a decade-and-a-half deal with Qatar to ensure non-Russian gas supply, but equities also welcomed the less hawkish tilt of the Fed. With the end of 2022 in sight, the Christmas rally is rolling in as traders are gearing up for it. BTC itself could be seen hitting $19,000, bringing a 15% profit as a gift to end the year with, although there is one challenge remaining. BTC bounces off crucial support yet again Bitcoin price is recouping the losses it incurred at the beginning of November as traders are finally trading away from the low at $16,000. That comes as a sudden tilt in sentiment kicked in throughout this week, with the speech from Fed Chairman Powell as the cherry on the cake. Several tail risks that have exercised their bearish pressure on the price action are slowly but surely abating. Read next: Porsche NFT Collection Will Hit The Market In January 2023 | FXMAG.COM BTC looks primed to continue its rally and could be seen hitting $19,000 possibly by the end of next week or the week after that if economic numbers keep confirming what Powell said. The only element in the way is the 55-day Simple Moving Average (SMA) on the weekly chart near $18,460. That could still trigger a rejection as it did in September and October, although the current bullish sentiment could easily be strong enough to trade beyond that point as tail risks deflate. BTC/USD weekly chart As the current rally is based on the communication from Fed Chairman Powell, the data could still point to a sticky and elevated inflation level. That would trigger a massive sell-off as the economic background is clearly not improving on inflation pressures. BTC would be slammed against that $16,000 level and flirt with fresh lows for 2022.
Crypto Lender BlockFi Became The Latest To Fall

Crypto Lender BlockFi Became The Latest To Fall

ByBit Analysis ByBit Analysis 02.12.2022 14:52
News Round-Up for the Week Miami Prepares for Web3 Week Despite dampened sentiments in the crypto space, the week dedicated to celebrating the art scene with a twist of web3 is about to unfold in Miami. Find out more here. BlockFi Files for Bankruptcy as FTX Contagion Spreads Crypto lender BlockFi filed for chapter 11 bankruptcy on Monday, spotlighting the latest contagion effects that have been unleashed by the FTX collapse. Find out more here. Brazil Backs Law for More Crypto Regulation After a series of twists and turns over the past seven years, Brazil’s lower house of Congress finally approved a long-awaited crypto regulation bill that aims to boost oversight of the country’s cryptocurrency sector. Find out more here. Read next: If ECB policymakers should make a decision between fighting inflation and avoiding recession, they will likely choose fighting inflation says Ipek Ozkardeskaya| FXMAG.COM Telegram Reveals Plans for Wallet and Dex Telegram reveals ambiguous plans as the broader industry continues to grapple with the FTX collapse. Find out more here. Magic Eden Introduces Code to Enforce Creator Royalties NFT marketplace Magic Eden is set to roll out code allowing NFT creators on the platform to enforce creator royalties on new collections. Find out more here. Deep Dive This week, we explore areas of Web3 that would benefit from this year’s World Cup and how.  As Web3 reels from contagious effects induced by FTX’s implosion, we dive into whether the FIFA World Cup hype has indeed provided a boost to Web3’s on-chain activities. Find out more here. On-Chain Round-Up for the Week The broader crypto market demonstrated considerable resistance in the face of growing uncertainty and escalating trust crisis, as crypto lender BlockFi became the latest to fall in the ongoing FTX saga. Embroiled in a crypto-specific contagion, major cryptocurrencies seemed to be decoupling from the traditional financial markets. As its members repeatedly telegraphed in recent weeks, Federal Reserve Chair Jerome Powell finally confirmed the slowdown of rate hikes in December, sending U.S. equities higher, while the crypto market behaved unimpressed by the prospect of improved liquidity. As of the time of writing, BTC failed to defend the $17k handle, while ETH headed south towards the $1,250 support.  In retrospect, on-chain metrics categorize the recent meltdown triggered by the FTX contagion as one of the worst selloffs in the history of BTC. In absolute numbers, the crypto market saw a net realized loss of 521k BTC, which is comparable to the height of the bearish cycle from 2018 to 2019. However, the market has also demonstrated considerable strength when compared to the COVID crash, or the more recent LUNA implosion, with only a 26% correction.  As the FTX debacle continues to unfold, the market structure has gone through some notable changes, with a significant volume of coins changing hands at heavily discounted prices. The short-term holders’ cost basis dips below the realized price, suggesting that many directional traders had entered after the market bottomed out, thus gaining a superior position relative to an average holder.  The accumulation trend confirms that holders across all cohorts entered the heavy accumulation phase, with many perceiving the current price discovery period as an opportunity to stack up their holdings. It also signals that coins are moved in large quantities to self-custody.  Macro events to look out for in the coming week  Dec 2, 2022 US Nonfarm payrolls  Dec 5, 2022  US Non-Manufacturing PMI Dec 6, 2022 Chainlink staking launch  Dec 8, 2022  Particle BasicSwap DEX release  Dec 9, 2022 China Inflation Rate World Mobile Token staking snapshot  Three coins to watch Token Reason  FTM Fantom’s recent upside momentum has been chalked up to a positive update on the state of Fantom’s treasury after its advisor Andre Cronje revealed how Fantom’s financial situation evolved over the years in a blog post. The revelation, especially during a period when crypto projects’ liquidity has been in question, is a strong shot in the arm for the network and will likely provide some tailwinds to its native token. Despite Fantom’s TVL having plunged from its peak, investors’ focus has seemingly shifted from fundamentals to assessing who may survive an extended crypto winter. TON Telegram has huge plans for its blockchain-based platform Fragment to move beyond the sales of usernames to become a host of blockchain tools, including non-custodial wallets and decentralized exchange. The username sales platform has already been a huge success, raking in $50 million worth of TON in less than a month. The token’s upside potential may be further boosted by the blueprint.  UNI Uniswap’s recent launch of its NFT marketplace aggregator has boosted a significant surge in the network activity, with the count of new addresses and active addresses soaring to new highs. As the bear market favors the leading player, as the absolute leader in spot trading, Uniswap’s footprint in NFT may possibly grow its user base and, in turn, expand its influence in the cryptoverse. Source: Bybit Blog | This Week in Crypto: BTC Holders Across All Cohorts Resume Accumulation; BlockFi Files for Bankruptcy  
DPX Token Registered A 24-Hour Return Of 11.11%

NFT Marketplace Magic Eden And Its New Code For NFT creators

ByBit Analysis ByBit Analysis 02.12.2022 14:50
BTC Mining Revenue Tanks; Magic Eden Introduces Code to Enforce Creator Royalties Market Insights/AnalysesDaily Bits Dec 2, 2022 Chart of the Day  Stocks whipsawed near key technical levels as traders await the release of employment data later today for clues on the Federal Reserve’s next step. The remarkably resilient US job market is expected to cool, but turning points in the labor market may be hard to capture. The dollar index slid to its lowest level since June this year, and the 10-year Treasury yield declined by 10 basis points.  In the crypto market, Thursday’s rally was short-lived as traders remained cautious about the industry’s outlook and macroeconomic uncertainty. Major cryptocurrencies struggled to defend the newly reclaimed support levels. As of the time of writing, BTC’s price action remains choppy around the $17k handle, after posting a marginal loss in the last 24 hours. In a similar vein, ETH is changing hands at $1,280, moving slightly lower from a day ago. The abysmal performance of the market in November has spelled an end to the “ultrasound money” narrative, for the time being, as the daily ETH supply once again flips to the inflationary model. Mid-to-large-cap altcoins saw mixed performances, with TWT leading the pack on a 9% increase in the same period.  Read next: Investors also seem to have become less sensitive to the Ukraine War, which was a significant driver of crude in the first half of 2022 says Finimize's Luke Suddards | FXMAG.COM BTC mining revenues took a 20% plunge in November in the mining sector,  plummeting to around $472.64 million. The majority of the revenues come from block reward subsidies, while only 3% are from transaction fees.      Talk of the Town  NFT marketplace Magic Eden is set to roll out code allowing NFT creators on the platform to enforce creator royalties on new collections. This move came shortly after the Solana-based marketplace announced an imminent shift towards an optional royal model – one that allows buyers and sellers to determine what percentage of the sale will go to the original artist. Magic Eden’s previous decision to not enforce creator royalties has ignited criticism from the community. The latest solution, dubbed the Open Creator Protocol (OCP), is built on top of Solana’s SPL-managed token standard. It will help to enforce royalties on all collections that adopt the protocol, and allow users to ban marketplaces that have not enforced royalties on their collections. Royalties will remain optional for new collections that opt out of OCP. Source: Bybit Blog | BTC Mining Revenue Tanks; Magic Eden Introduces Code to Enforce Creator Royalties  
The Close Relationship With BTC Does Not Allow The Altcoin To Move On Its Own

The Close Relationship With BTC Does Not Allow The Altcoin To Move On Its Own

InstaForex Analysis InstaForex Analysis 02.12.2022 13:29
The cryptocurrency market meets Friday in a lazy mood, which is reflected in the quotes of the main cryptocurrencies. Over the past day, the market capitalization of all digital assets has decreased by almost 1%, which is a significant decrease in the current conditions. Inflation triggers bullish momentum Despite this, the fundamental news background remains positive and neatly spoils the market, where we should expect the next bullish impulse reaction. Fed Chairman Jerome Powell noted that the main signal to reduce inflation will be the PCE Price Index statistics. According to the released data, the economic indicator rose +6% in October. In September, the metric reached 6.3%. The presence of a downward trend in the PCE metric indicates a continuation of the downward trend in the inflation rate. This means that the next inflation report could trigger a boom in high-risk asset markets. Given this, we should expect increased volatility and attention of crypto investors to the next inflation report. Read next: Steen Jakobsen: ECB strategy is praying, hoping and waiting... not exactly action which gives hope for real economy| FXMAG.COM Negative factors With all the positive developments in the fight against inflation, the price of Bitcoin and other cryptocurrencies remains at the local bottom. This provokes huge losses of related industries, which, in turn, negatively affect the upward potential of cryptocurrencies. Bitcoin's hash rate has reached 300 EH/s again, while the price remains near $17k. This provokes one of the largest sell-offs among miners in history. Over the past day, the reserves of mining companies have fallen by 10,000 BTC. In addition, miners sell BTC mining equipment to cover running costs. There have also been reports that mining firms are using hardware as collateral for the loans they need to stay viable. BTC/USD Analysis Given the miners' concerns above, Bitcoin's upward movement has stalled near the $17k–$17.1k resistance level . Despite the slowdown in growth rates, the bears failed to seize the initiative and absorb the volumes of the bulls in the last days of November. As a result, Bitcoin failed to completely leave the "triangle," which means that the probability of a period of local accumulation before the beginning of next week is greatly increased. Technical metrics also point to a pause: the RSI is moving flat, while the stochastic is forming a bearish crossover. Given the divergence of technical metrics and the possibility of a decline, BTC needs to hold the $16.7k level. Otherwise, the price will go to retest $16k and below. However, in general, the activation of buyers, the growing correlation with stocks and a positive fundamental background can provoke a new monthly high. ETH/USD Analysis On the daily chart of ETH/USD, a situation similar to Bitcoin has formed. The price is near the border of the fluctuation range and has every chance to make a bullish breakout and storm $1,400 and $1,450. However, the close relationship with BTC does not allow the altcoin to move on its own, and therefore the main signal for the growth of the ETH price will be the bullish momentum of Bitcoin. Ethereum technical indicators are also echoing BTC and are in a consolidation pause. At the same time, Ethereum on-chain activity is growing, which may indicate an attempt to finally go beyond the $1,050–$1,350 range. It is also worth noting the low activity of sellers in the ETH network, which may indicate a high probability of a successful attempt by the bulls to break through $1,300 over the weekend.   Relevance up to 09:00 2022-12-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328817
The Commodities: In The Near Term The Oil Market Remains Relatively Well Supplied

Russia Already Sells Oil To Its Trading Partners At Significantly Discounted Levels

Craig Erlam Craig Erlam 02.12.2022 13:23
Steady going into a highly uncertain weekend Oil prices are quite steady on approach to the weekend. There remains considerable uncertainty around the action OPEC+ will take when it meets on Sunday, although there’s every chance that the meeting will be delayed or that discussions take longer than normal, as a result of the price cap being finalized by the EU. A cap of around $60 is now reportedly close to being signed off, the impact of which is still unclear as Russia already sells to its trading partners at significantly discounted levels. The Kremlin has threatened countries that abide by the cap with being cut off which will leave some in a very uncomfortable position; choosing between losing access to cheap Russian crude or facing G7 sanctions. As ever, the devil will be in the detail. But one thing is clear, crude carries significantly more weekend risk and could be extremely volatile on the open next week. Read next: If ECB policymakers should make a decision between fighting inflation and avoiding recession, they will likely choose fighting inflation says Ipek Ozkardeskaya| FXMAG.COM Rally pauses ahead of the jobs data Gold is basically unchanged on the day, with traders clearly having an eye on the US jobs report before deciding what to do next. Given the data of recent weeks, Powell’s comments on Wednesday, and the recent trend in the yellow metal, gold bulls may have good reason to be optimistic, especially if handed a remotely favourable – or not overly hot – jobs report. Of course, when the narrative is set this way going into a release, it always feels there’s scope for a nasty shock and unusually large negative reaction. What is interesting is that gold has breached $1,780 which had been a solid area of resistance recently having been a major level of support in the first half of the year. It broke through there in the aftermath of Powell’s comments before settling around $1,800. A break above here following today’s jobs report could put gold in a very bullish position. Can bitcoin continue its relief rally? Bitcoin has benefited from the improved risk appetite in the broader financial markets this week, allowing for a minor relief rally back toward $17,000. This is only the upper end of its range from the last few weeks but a period of not making new lows in response to further disturbing headlines relating to the FTX collapse will always be welcome. A period of consolidation may be the best the crypto community can hope for at this point, although given where it’s trading now, it will be interesting to see how it responds to a weaker jobs report, should it materialise. This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Bitcoin Has Strong Sign That Buyers Are In Control - 05.12.2022

InstaForex Analysis InstaForex Analysis 05.12.2022 08:47
Technical analysis: BTC/USD has been trading upside as I expected and the price is heading towards the main upside objective. I see potential for further growth due to the breakout of key supply trend-line in the background. Trading recommendation: Due to the breakout of the supply trend-line in the background, I see potential for further growth towards the Pitchfork median line. Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $21.400. MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control. Key support is set at the price of $15.800 Relevance up to 08:00 2022-12-06 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303668
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

The First Verification Update For BTC Will Be Completed By The End Of This Week

InstaForex Analysis InstaForex Analysis 05.12.2022 10:05
Crypto Industry News: For proof-of-reserve (PoR) audits triggered by the collapse of FTX, cryptocurrency exchange Binance partnered with accounting firm Mazars. The corporation once provided services to former US President Donald Trump for a long period of time. According to a report published by the media, Mazars has been appointed as the official auditor to perform financial verification as part of the Binance PoR update. A Binance spokeswoman said that the accounting firm is allegedly already analyzing all publicly disclosed information about Bitcoin PoR. It will also verify any future updates or tokens. According to information, the first verification update for BTC will be completed by the end of this week. Mazars is a global accounting firm headquartered in the French capital, Paris. As of 2019, the entity is embroiled in a dispute with the House Oversight and Reform Committee over some of Trump's financial records. Technical Market Outlook: Bitcoin spiked up over 12% already and the next technical resistance is seen at $17,600. The 38% Fibonacci retracement level of the last wave down is seen at $17,664, so this level might be tested as well (spike up). The momentum is strong and positive, but the market conditions are now extremely overbought on the H4 time frame chart, so a pull-back towards the local technical support levels seen at $17,173 and $16,814 is possible. There is no indication of the down trend on Bitcoin to terminate or reverse yet, so the next target for bears is seen at the level of $13,563 (2019 high). Weekly Pivot Points: WR3 - $17,953 WR2 - $17,573 WR1 - $17,420 Weekly Pivot - $17,221 WS1 - $17,068 WS2 - $16,869 WS3 - $16,516 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-12-06 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303692
Nela Richardson, a chief economist of ADP, points out that these data suggest the observed tightening policy by the Federal Reserve since March this year has a negative impact on job creation and wage growth

Nela Richardson, a chief economist of ADP, points out that these data suggest the observed tightening policy by the Federal Reserve since March this year has a negative impact on job creation and wage growth

Geco One Geco One 06.12.2022 08:20
Bitcoin (BTC) After the first half of November, due to the panic sale caused by the collapse of FTX, the third largest cryptocurrency exchange in the world, Bitcoin has stabilized in the last few days in the range between 15.6k and 17k dollars. Last week, however, some interesting information pushed the leading cryptocurrency slightly above the upper limit of this range. The ADP report published on Wednesday shows that despite the forecasts of 200,000 new jobs in November this year, The US economy created only 127,000 new jobs, which turned out to be significantly worse than last month's result (239,000) Nela Richardson, a chief economist of ADP, points out that these data suggest the observed tightening policy by the Federal Reserve since March this year has a negative impact on job creation and wage growth. The results indicating a deterioration in the condition of the US labour market, therefore, increase the likelihood that the Fed will decide to raise the federal funds rate at its December meeting by only 50 bps, which would signal that the Federal Reserve is approaching the end of the monetary policy tightening cycle, which in turn could be received by the cryptocurrency market with optimism and lead to a certain upward rebound. These expectations were further fueled by the subsequent comments of Fed chairman Jerome Powell, who spoke at the Brooking Institution about inflation and prospects for the labour market and the economy in general. He pointed out that the incoming economic data are encouraging and indicate that a moment has come when it is justified to limit the rate hikes, which may already take place from December. These comments made up 79.4 % of the probability that after four increases in a row by 75 bps, the Fed will decide during its December meeting to raise the federal funds rate by only 50 bps has increased. Just a week ago, the probability of such a move was estimated at 67.5%, and on 10 November, only 52 per cent and 32.5 per cent chances were given to the fifth rate hike in a row by 75 bps. Currently, such a scenario is valued at only 20.6 per cent. Thus, it can be seen that last week's comments by Jerome Powell increased expectations regarding the Fed's pivot, i.e. a change in the attitude of the US central bank to further moves in interest rates. These expectations have remained the same even after BLS publicized the phenomenal report on the American labour market. According to data from the US Labour Office, the local economy created as many as 263,000 new jobs in November. The optimistic tone of this publication was also supported by a positive revision of last month's reading and data on wage inflation and positive revisions of their October readings. • US Nonfarm Employment Change (NFP): 263,000, forecast 200,000, previously 284,000 (revised positive from 261,000) • Average hourly earnings m/m: 0.6%, forecast 0.3%, previously 0.5% (positive revised from 0.4%) • Average hourly earnings y/y: 5.1%, forecast 4.6%, previously 4.9% (positive revised from 4.7%) This is a solid report indicating that the labour market is not weakening. However, it seems unlikely that this publication will be able to persuade members of the Federal Open Market Operations Committee (FOMC) to change their stance and raise interest rates for the fifth time in a row by 75 bps. It may be evidenced by no change in the valuation of the Fed's future monetary policy tightening path and market reaction to Friday's NFP report. While just after its publication, the dollar experienced a growth increase, before the end of Friday's session, the US currency more than gave back the earned profits. It seems, therefore, that the publication of the report on consumer inflation in the US, scheduled for 13 December this year, i.e. the day before the next meeting of the Federal Open Market Operations Committee (FOMC), will be of significant importance for the cryptocurrency market, the fall of which could contribute to the next uptrend. The last publication of this report contributed to the increase in BTC quotations by over 10%. While the Fed's monetary decisions were one of the main catalysts driving the cryptocurrency winter observed for over a year, future meetings could already contribute to a certain upward rebound and the beginning of a new bull market. It is worth noting that although due to strong ties with FTX, the cryptocurrency lender BlockFi has also recently been forced to file for bankruptcy, Bitcoin's quotations have increased by almost $2,000 over the past few days, returning above $17,000, which may signal that the cryptocurrency market has probably already priced in all the negative information about the collapse of the third largest cryptocurrency exchange and its related entities, and macroeconomic events that affect the dollar will also affect cryptocurrency prices again. The return of the negative correlation between BTC and USD may confirm this. Just after the collapse of the FTX exchange, the correlation between these assets changed from strongly negative (-0.94) to highly positive, reaching a 19 November level of 0.84. Now, in turn, we are seeing a return to negative values, resulting in the fall of the dollar driving the rise of Bitcoin. Ethereum (ETH) Ethereum's quotations fell between November 4 and 9 by over 36%, and then, driven by a highly optimistic report on CPI inflation in the US, they rebounded by almost 26%, thus leading to a re-test of previously defeated support (now resistance). However, this increase lasted only one day; from 11 November this year, the ETH rate fell again, returning to the USD 1100 region, where on 22 November, there was a demand reaction again. The increases observed since then have caused the exchange rate of this cryptocurrency to return to the technical resistance of USD 1,300. If only this barrier is broken, we could expect a further rally north towards the zone between USD 1380-1425 or even USD 1650. Bitcoin Cash (BCH) Bitcoin Cash fell by nearly 31% between 5 November and 9 November, falling to the lowest since December 2018. Similarly to BTC and ETH, in reaction to the US CPI inflation report published on 10 November, it went up by over 22%. It is worth noting that although the increase stopped for several days in the area of ​​the previously defeated support of 106 USD, this resistance was finally overcome. Over the last few days, we have observed its re-test. The demand reaction that appeared around this level initiated the current upward rebound. If this trend continues, the BCH rate could return to USD 125 in the near future or even increase to USD 133.50. Litecoin (LTC) Litecoin's quotations collapsed between November 7 and 9 this year by more than 35 %. This sell-off stopped only in ​​technical support, around USD 50, where evident demand pressure appeared on 10 November. However, the LTC exchange rate increased by over 78 % due to the subsequent appreciation, more than making up for earlier losses. It is worth noting that this increase led to the overcoming of technical resistance levels of USD 64.50 and USD 73. For several days it stopped only in the consolidation between USD 73 and USD 80, from which the LTC rate is currently breaking out. Unless there is a strong supply reaction in the near future that could negate the current increases, the quotations of this cryptocurrency could move further north towards USD 96.
Technical Outlook Of The Further Movement Of Bitcoin

Bitcoin (BTC) Has A Potential For The Further Upside Movement

InstaForex Analysis InstaForex Analysis 06.12.2022 08:39
Technical analysis: BTC/USD has been trading downside at the price of $17.000. Anyway, I see potential for the further rally due to strong support on the test. Trading recommendation: Due to the strong support and multi Fibonacci confluence on the test, I see potential for the further upside movement. Watch for the potential buying opportunities with the upside objective at the price of $17.735 Stochastic Oscillator is showing oversold condition bull cross, which his good sign for further rally. Key support is set at the price of $16.900     Relevance up to 08:00 2022-12-07 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303839
BRICS Summit's Expansion Discussion: Impact on De-dollarisation Speed

The US Dollar Strengthened As A Result Of The Hawkish Fed Rectification

Swissquote Bank Swissquote Bank 06.12.2022 10:21
Stocks fell and the US dollar strengthened on Monday on a stronger than expected ISM services read in the US, which came in above expectations, and hinted that the economic activity, at least in the US services sector continues growing, and growing un-ideally faster-than-expected despite the Federal Reserve’s (Fed) efforts to cool it down. The Aussie In the FX, the Aussie was slightly better bid after the Reserve Bank of Australia (RBA) raised its rates by another 25bp today, and took the rates to levels last seen a decade ago. EUR/USD and GBP/USD But elsewhere, the US dollar strengthened as a result of the hawkish Fed rectification. The dollar index first eased to a fresh low since June, then rebounded. It has way to recover above its 200-DMA, which may mean that some majors, including EURUSD and Cable could return below their 200-DMA as well. Yet, even if we see rebounds in the US dollar, the medium to long term direction of the dollar will likely be the south in the coming months. The EURUSD could recover to 1.10, Cable to 1.30. USD/JPY More stretched… Vontobel sees the USDJPY’s fair value at 100, and Standard Chartered predict Bitcoin could fall another 70%, and spur a 30% rally in gold! Watch the full episode to find out more! 0:00 Intro 0:25 Fed hawks are back 3:07 S&P500 could further fall 4:40 Selling USD rallies sounds like a plan 8:22 A 70% fall in Bitcoin could spur a 30% rally in gold?! Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #economic #data #Fed #expectations #USD #EUR #GBP #JPY #XAU #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
The President Of El Salvador Continues To Promote Bitcoin

Bitcoin Has Potential For The Upside Continuation

InstaForex Analysis InstaForex Analysis 07.12.2022 09:33
Technical analysis: BTC/USD has been trading downside towards the price of $16.800. Anyway, I see strong gap zone on the test, which can be zone for the buyers to join. Trading recommendation: Due to the test of the gap zone, I see potential for the upside continuation. Watch for the potential buying opportunities with the upside objective at the price of $17.000. Key support is set at the price of $16.700-$16.500   Relevance up to 09:00 2022-12-08 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304014
McGlone talks cryptocurrency market hitting "rock bottom"

McGlone talks cryptocurrency market hitting "rock bottom"

Alex Kuptsikevich Alex Kuptsikevich 07.12.2022 07:53
Market picture Bitcoin once again failed to get on the upside track, and its exchange rate fell to $17K, around which it has been languishing since the beginning of the month. The reason for the decline was pressure in the markets due to relatively good economic data, which increased speculation that the Fed would have to go further in raising rates than previously expected. We note that the crypto market recently had very subdued volatility compared to stocks, having missed much of the rally of the last two months but also not feeling the kind of pressure that stocks have been under since early December. Read next: Nigeria Bans Cash Withdrawal Higher Than 225$ To Encourage CBDC Use | FXMAG.COM The cryptocurrency fear and greed index down 1 point by Tuesday, to 25, and had moved into "extreme fear" status. The total capitalisation of the crypto market fell 1.9% to $853bn. The suppressed volatility in the cryptocurrency market is causing market participants to move stop orders closer to the current price. A drop below $16K (-6%) could devastate speculators' positions, delaying a potential market recovery for many more months. On the other hand, a rise above $18K (+6%) could open a direct track to $21K. With professional market makers becoming less active towards the end of the year, it will become increasingly easy to swing the price in either direction (or even in both directions). News background According to CoinShares, investments in crypto funds fell by $11m last week after an outflow of $23m the week before. Bitcoin investments rose by $11m, and Ethereum fell by $4m. Investments in funds that allow shorts on bitcoin fell by $11m. Trading volume was $753m, compared to an average of $2bn a year ago, suggesting low investor engagement, CoinShares noted. Read next: The Australian Dollar Failed To Hold Its Gains, The Pound Strengthened Against The US Dollar| FXMAG.COM Cryptocurrency broker Genesis Global Capital has reached $1.8bn in debt and is likely to continue to grow, CoinDesk reported. Messari estimates that the platform needs to raise at least $500m to avoid liquidation. Bloomberg Intelligence senior commodities strategist Mike McGlone believes that cryptocurrencies are now going through their last phase before hitting rock bottom. However, he says it will be tough for investors and companies to survive this phase. A Chinese court has ruled that non-exchangeable tokens (NFTs) are virtual property that should be protected by law.
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

Bitcoin Is Showing A Potential For The Upside Movement

InstaForex Analysis InstaForex Analysis 08.12.2022 08:44
Technical analysis: BTC/USD has been trading sideways at the price of $16.800/ Anyway, I see potential for the upside movement due to the potential completion of the downside correction. Trading recommendation: Due to the potential completion of the downside correction and strong rejection in the background, I see potential for the further rally. Watch for the potential buying opportunities with the upside objectives at $17.110 and $17.350. Stochastic oscillator is showing fresh upside momentum, which is strong sign that buyers are in control. Key support is set at the price of $16.600 Relevance up to 08:00 2022-12-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304167
Bitcoin Has Made A Dynamic And Aggressive Reversal

Customers No Longer Have To Believe Binance's Claims

InstaForex Analysis InstaForex Analysis 08.12.2022 09:53
The long-awaited report from South African auditing company Mazars was released on Wednesday. It stated that Binance, the largest cryptocurrency exchange in the world, has direct control over 575.742,42 bitcoins (BTC) worth more than $ 9.6 billion. As defined by Mazar's analysts as "performing procedures agreed with Binance and reporting the results," an interaction on agreed procedures (also known as an "AUP") was conducted. Declaring that they do not believe the AUP is relevant and that "It is not a confidence assignment; it is the AUP assignment. As a result, we don't make any claims or express opinions. Additional procedures might have drawn our attention to other issues that were reported if we had conducted them." Mazars also described several methods they used to independently confirm that Binance fully owns the bitcoins, including requesting the exchange transfer of the listed bitcoins to specific addresses at their request. On November 28, one of these steps was noticed in the chain and raised a lot of concern, leading Binance CEO Changpeng Zhao to explain it to reassure customers and the larger cryptocurrency market. Binance's attempt to verify its reserves following the demise of the competing FTX exchange is documented in the Mazars report. On November 10, Binance released the hot and cold wallet addresses and the network activity for its cryptocurrency platform. According to a statement, the inventory data demonstrated Binance's "ongoing commitment to transparency." Customers no longer have to believe Binance's claims about sizeable reserves and support for BTC 1-1 assets after completing the interaction with Mazars' AUP   Relevance up to 07:00 2022-12-22 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/329271
There Are Many Ways To Join A Crypto Community

The Cryptocurrency Market May Shift From Centralized To Decentralized Exchanges

InstaForex Analysis InstaForex Analysis 08.12.2022 09:58
Crypto Industry News: Fabio Panetta, a member of the board of the European Central Bank (ECB), has proposed that the European Union (EU) ban cryptocurrency assets whose issuance has a significant environmental impact. Panetta says authorities should address the environmental impact of mining. He added that tokens "responsible for an excessive ecological footprint should also be banned." He also went on about other threats related to the cryptocurrency market. In his eyes, this is often a threat due to the "incredibly high leverage and interconnections" between entities in the industry. He referred to the collapse of the FTX exchange. "The mismanagement of cryptocurrency companies has compounded these structural flaws. Insufficient transparency and disclosure, lack of investor protection, and weak accounting and risk management systems have been blatantly exposed as a result of the collapse of FTX. After this, the cryptocurrency [market] may shift from centralized to decentralized exchanges, creating new risk due to the lack of a central governing body," explained Panetta. It is worth noting that his call to ban "ungreen" cryptocurrencies comes after the European Parliament's Economic and Monetary Affairs Committee approved the Markets in Crypto Assets (MiCA) Act in October after extensive discussions. The legal framework is now due to be finally approved after legal and linguistic scrutiny by EU lawmakers. Many experts expect the new EU cryptocurrency policy to take effect from 2024. Technical Market Outlook: Bitcoin has been seen testing the local trend line support located around the level of $16,700. So for there was no breakout below the trend line, nevertheless, the momentum remains weak and negative on the H4 time frame chart. The volatility is very limited and the intraday market movements are narrow. The next local technical support is seen at $16,020. There is no indication of the down trend on Bitcoin to terminate or reverse yet, so the next target for bears is seen at the level of $13,563 (2019 high). Recently BTC/USD spiked up over 12% already as bulls were seen moving towards the next technical resistance located at $17,600. The 38% Fibonacci retracement level of the last wave down is seen at $17,664, so this level might be tested as well (in a form of a spike up etc.). Weekly Pivot Points: WR3 - $17,953 WR2 - $17,573 WR1 - $17,420 Weekly Pivot - $17,221 WS1 - $17,068 WS2 - $16,869 WS3 - $16,516 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-12-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304185
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Bitcoin Is Showing A Potential For The Further Growth

InstaForex Analysis InstaForex Analysis 09.12.2022 08:31
Technical analysis: BTC/USD has been trading upside as I expected and the price has reached the first upside objective at the price of $17.120. Anyway, I see potential for further upside movement due to the strong upside momentum. Trading recommendation: Due to the strong upside pressure in the background and the completion of downside correction, I see potential for the further growth towards next reference points. Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price of $17.400 and $17.800. MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control. Key support is set at the price of $16.600 Relevance up to 08:00 2022-12-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304298
Bitcoin Has Made A Dynamic And Aggressive Reversal

The Bank Of Spain And Its CBDC Experimental Program | Bitcoin: The Bearish Pressure Is Still High

InstaForex Analysis InstaForex Analysis 09.12.2022 11:13
Crypto Industry News: The Bank of Spain recently revealed its plan to launch its own experimental program with wholesale CBDC. The document released on December 5 announces this digital token program and explains that the institution is seeking cooperation from companies in the industry that will be able to formulate their proposals on this matter. The institution explained that this program is unrelated to the European Union's ongoing research efforts on the digital Euro. The purpose of this new program is to identify the possibility of using such a currency and test the benefits it can bring in the settlement process. Proposals will be accepted until January 31, after which the bank will begin evaluating each proposal for possible selection. Selected proposals will have to be implemented within a period of no more than nine months, starting on April 3, and are expected to end on December 29, 2023. However, the bank will be able to issue an extension depending on several factors, as documented in the selection process. While most of the experiments and trials currently being conducted in the field of CBDC relate to a universal currency, the Bank of Spain is also interested in a wholesale currency aimed at helping to settle financial transactions between banking institutions. Technical Market Outlook: Bitcoin has bounced from the local trend line support located around the level of $16,700, nevertheless, the volatility is very limited and the intraday market movements are narrow. The nearest technical resistance is seen at $17,428 and the next local technical support is seen at $16,020. There is no indication of the down trend on Bitcoin to terminate or reverse yet, so the next target for bears is seen at the level of $13,563 (2019 high). Recently BTC/USD spiked up over 12% already as bulls were seen moving towards the next technical resistance located at $17,600. The 38% Fibonacci retracement level of the last wave down is seen at $17,664, so this level might be tested as well (in a form of a spike up etc.). Weekly Pivot Points: WR3 - $17,953 WR2 - $17,573 WR1 - $17,420 Weekly Pivot - $17,221 WS1 - $17,068 WS2 - $16,869 WS3 - $16,516 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 10:00 2022-12-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304345
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

A Federal Investigation Is Investigating Sam Bankman-Fried's Involvement In The Improper Transfer Of FTX Funds To The Bahamas

InstaForex Analysis InstaForex Analysis 12.12.2022 10:10
Crypto Industry News: While many crypto scammers have been able to escape punishment, the same is not true of FTX CEO Sam Bankman-Fried (SBF). Parallel to the ongoing FTX fraud investigation, the US Department of Justice (DOJ) is reportedly investigating potential fraud involving SBF moving funds overseas in the days before FTX filed for bankruptcy. A federal investigation is investigating Sam Bankman-Fried's involvement in the improper transfer of FTX funds to the Bahamas when the defunct cryptocurrency exchange filed for bankruptcy on November 11. The anonymous whistleblower further revealed that Department of Justice officials met with court-appointed FTX supervisors to discuss the extent of information needed for further investigation. The Department of Justice also plans to investigate whether the SBF unlawfully transferred FTX funds to Alameda Research. Given Sam Bankman-Fried's strong ties to US politics, the scammer has yet to be charged with any crimes and continues to participate in discussions on Twitter. On December 9, the SBF accused Binance CEO Changpeng "CZ" Zhao of lying and backing out of a deal that could have saved FTX at the last minute. Technical Market Outlook: Despite the low volatility is very limited and the intraday market movements are narrow the bears had managed to break below the local trend line support. The nearest technical resistance is seen at $17,428 and the next local technical support is seen at $16,700. There is no indication of the down trend on Bitcoin to terminate or reverse yet, so the next target for bears is seen at the level of $13,563 (2019 high). Recently BTC/USD spiked up over 12% already as bulls were seen moving towards the next technical resistance located at $17,600. The 38% Fibonacci retracement level of the last wave down is seen at $17,664, so this level might be tested as well (in a form of a spike up etc.). Weekly Pivot Points: WR3 - $17,347 WR2 - $17,136 WR1 - $17,014 Weekly Pivot - $16,995 WS1 - $16,803 WS2 - $16,718 WS3 - $16,502 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 2022-12-13 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304497
According to CoinMarketCap, Cryptocurrency market capitalisation plunged to $854bn

According to CoinMarketCap, Cryptocurrency market capitalisation plunged to $854bn

Alex Kuptsikevich Alex Kuptsikevich 12.12.2022 13:47
The leading cryptocurrency trading near $17K Volatility in Bitcoin and the crypto market remains as squeezed as possible. Continuing to hover near $17K, the price of the first cryptocurrency loses 1.5% in 24 hours, 2.5% in 7 days and is up 1.1% in 30 days. Total crypto market capitalisation, according to CoinMarketCap, is down 0.5% for the week, to $854bn. The Crypto Fear & Greed Index was unchanged over the week, remaining at 26 points ('fear'). On intraday time frames, Bitcoin price remains near the upper end of last week’s range, maintaining (in our view) an equal chance of exiting the corridor in either direction. In both cases, it is prudent to wait for confirmation in the form of a rejection of 1000 one way or the other. Read next: An incoming cold spell in the US has seen the cost of US gas surge 27% during the past three trading session while (...) Dutch TTF gas contracts remain below €150| FXMAG.COM On the bulls' side is that Bitcoin has been falling for more than a year, having lost three-quarters of its peak price in that time. That is a very attractive disposition for long-term buyers. On the bears' side is that cryptocurrency is mainly interesting for speculators. With narrowing volatility and no growth, the exit of speculators from the market reduces liquidity, which puts additional pressure on prices on top of caution due to recent major crypto firms’ busts. Reduced developer activity on Ethereum and other blockchains  According to The Block, there has been a significant decline in developer activity recently on the Ethereum network and other blockchains. The only exception has been the Arbitrum network. US senators have introduced the Crypto-Assets Environmental Transparency Act, requiring miners to use more than 5MW of electricity to report greenhouse gas emissions. The US Securities and Exchange Commission (SEC) has required US companies to publicly disclose their cryptocurrency investments and report doing business with any cryptocurrency firms. The EU has set limits on cash payments of €10,000 to make it more difficult for such payments to be used for criminal purposes. This will make it much more difficult for users to remain anonymous when buying or selling digital assets. In addition, crypto transactions worth more than €1,000 will be audited by virtual asset operators and service providers to combat money laundering.
The Bitcoin Fall Will Likely Continue In The Future

Bitcoin Finally Broke Out Of The Sideways Channel

InstaForex Analysis InstaForex Analysis 13.12.2022 10:04
  On the 4-hour chart, bitcoin broke through the important levels of $18,500 and $17,528. Technically, the price has everything to start a decline. Meanwhile, BTC may be trading within a sideways channel for several months. Currently, it lacks strong fundamentals to cancel the bearish trend. Thus, the flagship cryptocurrency is likely to decline in the near term. Meanwhile, crypto experts start to change their views on the future of Bitcoin. CEO of Galaxy Digital Michael Novogratz told Bloomberg that his previous forecast was unlikely to come true. Novogratz predicted that Bitcoin would reach $500,000 in 5 years within a strong bullish trend. However, several crashes in the crypto market wrecked all hopes for such growth and BTC plummeted deeper. Today, the crypto industry may experience a domino effect. After the collapse of FTX, it turns out that many cryptocurrency companies are very closely tied to each other. In other words, one company issues its token, another one buys it, and a third lends it out. Then the first company crashes, the second company has liquidity problems because of the first company's devalued token, and the third company can't get its money back. As a result, many companies have to deal with liquidity problems. It can be solved by taking new loans, issuing bonds, or issuing new tokens. In any case, we are talking about investors' or borrowed funds. However, in order to get a loan, you need to provide all the financial statements, which must be perfect. As the FTX example showed, many people have problems with financial statements, reserves, and the intended use of investor funds. In general, we believe that the bankruptcies that we have already witnessed will not be the last ones. Now, investors' trust in cryptocurrencies has been abused greatly. When the asset starts to grow again, investors will forget about the undermined trust as they seek easy and fast profit. At the moment, more than half of wallets are suffering losses. Many crypto-billionaires and millionaires have already started to see gains. On the 4-hour chart, Bitcoin finally broke out of the sideways channel, in which it was hovering for five months. The important levels of $18,500 and $17,582 have been broken through. We may expect the fall to continue with a target of $12,426 in the medium term. The trend lines and channels are no longer relevant and the downtrend persists. Bitcoin is trying to stay afloat but the fundamental background regularly dips it. Relevance up to 08:00 2022-12-14 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/329641
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Centralized Lenders (CELs) Start Going Bankrupt | The Bitcoin Bulls Are Back Above The Trend Line Support

Sebastian Seliga Sebastian Seliga 13.12.2022 10:14
Crypto Industry News: BitMEX co-founder Arthur Hayes believes that when it comes to BTC falling, the worst is behind us. The former CEO believes that the three main cohorts of bitcoin sellers - lending companies, miners and speculators - have already capitulated, marking the bottom of the cryptocurrency market cycle. As Hayes explained in a blog post, centralized lenders (CELs) start going bankrupt when they lend money to people who can't pay it back. In addition, depositors often expect their assets to be returned in a short time, but institutions have lent them for a long period. In order to meet the capital calls, the CELs then begin to liquidate the collateral of short-term loans they have made to other players in the industry. This collateral is usually denominated in Bitcoin or Ether, which means both assets are starting to experience a lot of selling pressure. The latter causes a sharp decline in the price of bitcoin in the run-up to the wave of bankruptcies. Both Three Arrows Capital and Alameda Research ran into problems in this cycle and therefore huge amounts of BTC and ETH were traded on centralized and decentralized exchanges. "All that's left are illiquid shitcoins, private stakes in cryptocurrency companies, and locked pre-sale tokens," Hayes wrote. "I'm glad these entities have little or no extra bitcoin to sell," he added. Technical Market Outlook: The Bitcoin bulls are back above the trend line support (orange line) and are approaching the other short-term trend line resistance. (blue line). The nearest technical resistance is seen at $17,428 and the next local technical support is seen at $16,700. There is no indication of the down trend on Bitcoin to terminate or reverse yet, so the next target for bears is seen at the level of $13,563 (2019 high). Recently BTC/USD spiked up over 12% already as bulls were seen moving towards the next technical resistance located at $17,600. The 38% Fibonacci retracement level of the last wave down is seen at $17,664, so this level might be tested as well (in a form of a spike up etc.). Weekly Pivot Points: WR3 - $17,347 WR2 - $17,136 WR1 - $17,014 Weekly Pivot - $16,995 WS1 - $16,803 WS2 - $16,718 WS3 - $16,502 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-12-14 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304673
The Commodities Digest: US Crude Oil Inventories Decline Amidst Growing Supply Risks

Focus On US CPI | In Cryptocurrency Market The Drama Continues With Binance

Swissquote Bank Swissquote Bank 13.12.2022 10:37
European equities traded in the red at the start of the week, but equities in the US rebounded as investors are hanging on to hope of slower inflation and reasonably hawkish Federal Reserve (Fed) by their fingernails. US CPI Today and tomorrow will tell whether they are right to be optimistic or not. If, by any chance, we see a softer CPI figure, then the S&P500 could easily jump above its 200-DMA, and even above the ytd descending channel top. But, but, but… today’s US CPI data, unless there is a huge surprise, will probably not change the Fed’s plan to hike the interest rates by 50bp this week. Therefore, even if we see a great CPI print and a nice market rally today, it may not extend past the Fed decision on Wednesday. US In energy, US nat gas prices jumped more than 30% since last week due to a powerful Pacific storm bringing cold and snow to the norther and central plains in the US. UK In the UK, power prices hit another ATH yesterday. European nat gas futures Happily, we haven’t seen a significant rise in the European nat gas futures, which in contrary kicked off the week downbeat. Crude Oil But crude oil rallied as much as 2.60% on Monday on several factors that could however not lead to sustainable gains in the mid-run. Watch the full episode to find out more! 0:00 Intro 0:29 US CPI: possible scenarios 2:50 But the Fed may not care much about the data 4:10 Opportunity to sell the latest crude oil rally? 6:17 Is it time for Chinese stocks to recover… sustainably? 8:03 UK grows more than expected, but… 8:43 Binance may have processes $10bn illegal funds. Bitcoin stable. 9:11 Amgen buys Horizon Therapeutics, Microsoft takes 4% stake in LSE Ipek Ozkardeskaya  Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #USD #CPI #inflation #data #FOMC #Fed #rate #decision #dotplot #enery #crisis #natgas #crudeoil #Russia #China #Covid #reopening #HangSeng #Alibaba #Amgen #HorizonTherapeutics #Microsoft #LSE #acquisition #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH      
Bank of England Confronts Troubling Inflation Report; Fed Chair Powell's Testimony Echoes Expected Path

The Pound (GBP) Is Relatively Steady After The Release Of The UK Jobs Data

Craig Erlam Craig Erlam 13.12.2022 12:28
Stock markets are tentatively higher in Asia while Europe and the US are poised for a similarly modest start to trade in what is the start of a hectic 72 hours in the markets. For so many weeks now, the December Fed decision has dominated the minds of traders, while sentiment in the markets has been dictated by how small changes in various data points influence the outcome of the meeting. When a meeting or event generates this much hype, it can often disappoint and be something of an anticlimax but I’m not sure that will be the case this time. It’s not so much the decision itself but what accompanies it that will set the stage for next year. For so long the question has been will the Fed hike into a recession. In that time it’s remained convinced that a soft landing can be achieved and the resilience of the economic data has supported that but unfortunately, the same resilience has also supported the case for more hikes and a higher terminal rate. Last month’s CPI release gave investors real hope that in much the same way that inflation’s acceleration higher this year blew expectations out of the water, the path lower may also not be as gradual as feared. Unfortunately, some of the data since then hasn’t been so favourable – most notably the wages component of the jobs report – so a lot is now hanging on today’s release. Another number below forecasts of around 7.3%, year on year, could get the excitement flowing once more. Jobs data keeps pressure on BoE The pound is relatively steady after the release of the UK jobs data that was in line with market expectations. Unemployment rose marginally to 3.7% while wages rose by 6.1%. While the data does indicate some additional slack in the labour market, the wages number – despite falling well short of inflation – will be of concern to the BoE and ensure its foot remains firmly on the brake in the short term. Steady despite FTX developments and Binance concerns Bitcoin continues to trade around $17,000, undeterred by reports of Sam Bankman-Fried’s arrest and possible charges for money laundering against Binance. Withdrawals on the platform highlight the uncertainty and shattered confidence in the space, a desperation not to be caught up in another FTX event. Even when the situation looks very different. But that’s what fear does, especially in a situation where confidence has been so severely damaged, as it has in recent weeks. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

Bitcoin Has Still A Lot Of Potential For The Further Rise

Peter Jacimovic Peter Jacimovic 14.12.2022 09:21
Technical analysis: BTC/USD has been trading upside as I expected and the price has reached the Fibonacci projection at $17.800. Anyway, there is still a lot of potential for the further rise towards main objective. Trading recommendation: Due to the strong upside pressure in the background and breakout of the key supply trend-line, I see potential for further growth towards the Pitchfork median line. Watch for the potential buying opportunities with the upside objective at $21.350 and $22.400 MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control. Key support is set at the price of $16.725 Relevance up to 09:00 2022-12-15 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304854
The Bitcoin Price Movement Is In The Bullish Channel

The Bitcoin's Down Trend On The H4, Daily And Weekly Time Frames Continues

Sebastian Seliga Sebastian Seliga 14.12.2022 09:42
Crypto Industry News: Ledger and Merlin, a decentralized finance (DeFi) portfolio tracker, announced a new partnership on Dec. 13 to bring live DeFi performance analytics to Ledger Live users. The application that connects to Ledger cold wallets serves more than 5 million users. The newly integrated DeFi tracker connects more than 1,000 DeFi protocols across ten blockchain networks. Users will have access to performance metrics and profit and loss reports, as well as aggregated gas consumption reports and calculated profits. Technical Market Outlook: The Bitcoin bulls had broken above the 38% Fibonacci retracement level of the last wave down seen at $17,664, so this level might be tested as well (in a form of a spike up etc.). The local high was made at the level of $17,985 and the market is consolidating the recent gains. The next target for bulls is the key short them technical resistance seen at $18,135, so please keep an eye on this level. The level of $17,428 will now act as the key short-term technical support. Weekly Pivot Points: WR3 - $17,347 WR2 - $17,136 WR1 - $17,014 Weekly Pivot - $16,995 WS1 - $16,803 WS2 - $16,718 WS3 - $16,502 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term Relevance up to 09:00 2022-12-15 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304864
It Was Possible That Tesla Would Move Closer To Resistance

Tesla Trades At Cheapest, Crude Oil Rallied More Than 2.50%

Swissquote Bank Swissquote Bank 14.12.2022 11:19
Yesterday’s inflation report in the US filled investors with joy and further hope that inflation in the US may have peaked this summer and we will be heading lower from here, and that the Federal Reserve (Fed) will adopt a softer monetary policy stance and hike, yes, by 50bp today, but certainly not more than another 25bp in February. Powell  But Powell could also stress the fact that inflation remains significantly high compared with the 2% policy target, and that relaxing the tightening measures prematurely is not a good idea. US Dollar In the FX, the US dollar index fell following the softer-than-expected CPI print, and hit a fresh low since summer. Markets The softer US dollar, and stronger euro sent the European indices to fresh highs since summer. The DAX flirted with the June peak, and the Eurostoxx50 traded at the highest level since FebruaryCrude oil rallied more than 2.50% yesterday, on hope that the Fed could slow down the rate hikes, and not push the US into a deep recession to fight inflation. The FTX drama In cryptocurrencies, the FTX drama continues with the arrestation of Sam Bankman-Fried in the Bahamas, news that investors withdrew $3.7 billion worth of funds from Binance since last week, and that Binance reportedly stopped the stablecoin USDC withdrawals. Bitcoin But Bitcoin couldn’t care less. The price of a coin advanced more than 3% yesterday, showing that the FTX drama has been priced in and out and further drama should not hit the coin harder. Watch the full episode to find out more! 0:00 Intro 0:27 How does the Fed will about falling US inflation? 5:24 US dollar falls, majors & global equities rally 6:45 Crude oil tests short-term resistance 7:35 Bitcoin up despite unideal sector news 8:33 Tesla trades at cheapest ever PE Ipek Ozkardeskaya  Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #FOMC #Fed #rate #decision #dotplot #USD #CPI #inflation #data #EUR #GBP #JPY #XAU #crudeoil #DAX #EU50 #Bitcoin #SamBankmanFried #FTX #Binance #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
RBI's Strategic INR Support: Factors Behind India's Stable Currency Amidst Global Challenges

Markets Stay Relatively Quiet Early Thursday

TeleTrade Comments TeleTrade Comments 15.12.2022 09:44
Following the highly volatile action witnessed during the American trading hours on Wednesday, markets stay relatively quiet early Thursday with investors gearing up for the Bank of England and the European Central Bank policy announcements. The Swiss National Bank will also unveil its interest rate decision and the US economic docket will feature Retail Sales and Industrial Production data for November alongside the weekly Initial Jobless Claims and the NY Fed's Empire State Manufacturing Survey. As expected, the Federal Reserve hiked its policy rate by 50 basis points to the range of 4.25-4.5% following its December policy meeting. The revised Summary of Economic Projections (SEP) showed that the median terminal rate projection rose to 5.1% from 4.6% in September's SEP. Although the initial market reaction to the hawkish dot plot provided a boost to the US Dollar, the currency lost its strength during FOMC Chairman Jerome Powell's press conference. Powell said no one knew if the US economy would tilt into a recession next year or not and added that they could revise the peak rate projection lower if they continued to see soft inflation data. The US Dollar Index (DXY) fell to its weakest level in six months at 103.44 late Wednesday and the 10-year US Treasury bond yield retreated below 3.5%. The risk-averse market environment helps the US Dollar stay resilient against its rivals in the European session on Thursday with the DXY clinging to modest recovery gains slightly below 104.00. Read next: From the fundamental point of view, these facts may become a game changer, sending the EUR/USD pair to the parity level | FXMAG.COM Earlier in the day, the data from China showed that Retail Sales contracted at an annual rate of 5.9% in November, missing the market expectation for a decrease of 3.6%. Additionally, Industrial Production expanded by 2.2% in the same period, compared to analysts' estimate of +3.6%: Australian Bureau of Statistics announced on Thursday that the Unemployment Rate stayed unchanged at 3.4% in November with the Employment Changed coming in at +64K. Nevertheless, AUD/USD struggled to capitalize on the upbeat data and declined toward 0.6800, pressured by the risk-averse market environment and dismal macroeconomic figures from China. Similarly, NZD/USD stays on the back foot and trades in negative territory below 0.6450. The data from New Zealand revealed that the Gross Domestic Product expanded at an annual rate of 6.4% in the third quarter, beating analysts' projections of 5.5%. EUR/USD came within a touching distance of 1.0700 late Wednesday before retreating toward 1.0650 on Thursday. The ECB is widely expected to raise its policy rate by 50 bps. Hence, investors will pay close attention to revised quarterly projections and President Christine Lagarde's comments on QT and the policy outlook.  ECB Preview: Five reasons to expect Lagarde to lift the Euro with a hawkish hike. GBP/USD touched its highest level since early June near 1.2450 on Wednesday but lost its traction. As market participants gear up for the BOE rate announcements, the pair trades in negative territory slightly below 1.2400. BoE Interest Rate Decision Preview: Focus on vote split amid high inflation and economic gloom. USD/JPY struggled to make a decisive move in either direction on Wednesday and closed the day flat. The pair clings to modest daily gains above 135.70 in the European morning. USD/CHF slumped to its lowest level since late March at 0.9216 late Wednesday but managed to stage a rebound. The pair holds above 0.9250 so far on Thursday. The SNB is expected to raise the policy rate by 50 bps to 1% but some experts think that the bank could opt for a 75 bps hike instead. Read next: Given the peculiarities of the US labor market and the high labor mobility, the acceptable unemployment rate is considered to be 5.0%| FXMAG.COM Bitcoin rose to its highest level in over a month near $18,400 on Wednesday but erased its daily gains before closing flat below $18,000. BTC/USD edges lower early Thursday and trades near $17,700. Ethereum lost nearly 1% on Wednesday and is already down more than 1% on Thursday, trading slightly below $1,300.
Bitcoin Maintains A Steady Bullish Potential

Big Companies Are Looking For A Cryptocurrency Mining Partner In Latin America

Sebastian Seliga Sebastian Seliga 15.12.2022 09:48
Crypto Industry News: The prospect of Latin America as the future of cryptocurrency mining has been dampened by the news that Paraguay will not cap electricity prices for industry. At the World Digital Mining Summit in Cancun, Mexico last month, Bitmain, the world's largest maker of bitcoin mining platforms and host of the conference, touted Latin America, especially Paraguay and Argentina, as promising countries for mining. About a quarter of the conference was devoted to the topic "Latin America: the Unlimited Potential of Blockchain Land". BitPatagonia from Argentina and Penguin Digital from Paraguay were invited to give presentations while Bitmain's business development director spoke about the region's potential. However, he stipulated that it was important to find a suitable partner for cooperation in Latin America. Bitmain itself is looking for opportunities in the region, as are many other big companies. Technical Market Outlook: The Bitcoin bulls had made a new local high at the level of $18,360 and then corrective cycle has started. The next target for bulls is located at $18,660, but first the correction must be completed. The level of $17,428 will now act as the key short-term technical support. Please notice the market coming off the extremely overbought conditions on the H4 time frame chart. Weekly Pivot Points: WR3 - $17,347 WR2 - $17,136 WR1 - $17,014 Weekly Pivot - $16,995 WS1 - $16,803 WS2 - $16,718 WS3 - $16,502 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 2022-12-16 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305051
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

A Clear Sign That Hong Kong Has Not Strayed From Its Cryptocurrency Path

Sebastian Seliga Sebastian Seliga 16.12.2022 12:40
Crypto Industry News: Two ETFs that track U.S.-listed cryptocurrency futures will debut on the Hong Kong Stock Exchange tomorrow. The products will feature BTC and ETH as underlying assets and will become the first ETF futures to be traded in Asia. The funds will track futures contracts listed on the Chicago Mercantile Exchange in the US. The products marked CSOP Bitcoin Futures ETF and CSOP Ether Futures ETF have raised a total of $73.6 million so far, with the former accounting for $53.9 million of that amount. Products do not invest in "physical" bitcoins and ether. Instead, they allow investors to jump on the bandwagon without buying tokens from "unregulated platforms." The initiative is a clear sign that Hong Kong has not strayed from its cryptocurrency path and remains open to the development of virtual assets. Technical Market Outlook: The Bitcoin bulls had made a new local high at the level of $18,360 and then reversal has started. The next target for bulls is located at $18,660, but first the correction must be completed. The level of $17,428 will now act as the key short-term technical support. Please notice the market coming off the extremely overbought conditions on the H4 time frame chart and the RSI is now under the fifty level already. Weekly Pivot Points: WR3 - $17,347 WR2 - $17,136 WR1 - $17,014 Weekly Pivot - $16,995 WS1 - $16,803 WS2 - $16,718 WS3 - $16,502 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term. Relevance up to 10:00 2022-12-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305224
The FTX Bankruptcy Exposed Vulnerabilities In The Crypto System

The FTX Bankruptcy Exposed Vulnerabilities In The Crypto System

Marek Petkovich Marek Petkovich 16.12.2022 12:56
Ignorance is no excuse. Accusing FTX's founder of fraud was a breath of fresh air for the entire crypto market. If people had believed Sam Bankman-Fried's words about not knowing how it all works, the whole industry would have been hit. Capital outflows from Binance, which reached $3.7 billion in a week, would have accelerated, and BTCUSD quotes would have continued to go down. Fraud looks much better because the rest of the crypto exchanges can be crystal clear. And when confidence in an asset is restored, it can find the bottom. For those with a glass half full, looking for the good when things are bad is commonplace. Seemingly, the collapse of Bitcoin by 70%, the collapse of the TerraUSD stablecoin, and the bankruptcy of FTX made crypto winter so severe that it is now difficult to find a person who would adhere to the FOMO strategy "buy or lose." Fear of losing profits was typical for the crypto market a year ago, now it is in a very different situation. But all things come to an end, good and bad. And if the market can learn the lessons, the crypto winter will end. According to Deutsche Bank, the FTX bankruptcy exposed vulnerabilities in the crypto system, including insufficient reserves, conflicts of interest, lack of regulation and transparency, and unreliable data. All of these can be addressed by bringing the crypto ecosystem closer to the established financial sector. Investors, who slowed the capital outflow from Binance from 40,353 bitcoins on December 12 to 3,279 on December 15, understand this very well. It looks like the worst in terms of structural problems for the crypto market is over. It may start to regain lost correlations with U.S. stock indices. Dynamics of capital flows on the Binance exchange Alas, the dynamics of the latter suggests that the fall of BTCUSD is in danger of continuing. Even despite the gradual restoration of confidence in the crypto industry. The Fed is to blame for everything, for not paying attention to the slowdown in inflation in the United States in November from 7.7% to 7.1% and is ready to raise the federal funds rate by another 75 bps to 5.25% in 2023. Given the central bank's predicted GDP slowdown to 0.5%, a recession is likely next year. And the S&P 500 fears it. It's not for nothing that the broad stock index collapsed in response to disappointing statistics on U.S. retail sales. So there is both good news and bad news for Bitcoin. The good news is that the accusation of fraud to the FTX founder and the slowdown in the outflow of capital from crypto exchanges indicate the restoration of trust in the system. The bad news is that the terrible times for risky assets, led by U.S. stocks, seems not yet over. Technically, on the daily chart, BTCUSD clearly worked out the buying strategy from 17,400, followed by a reversal from the 18,000 pivot point. If the attack of the "bears" is not stopped by moving averages, there is a high probability that Bitcoin will fall to 16,500. The recommendation is to hold shorts and increase them on pullbacks. Relevance up to 07:00 2022-12-21 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/330011
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

The Use Of Cryptocurrency In Russia May Be Allowed By Its Central Bank

Sebastian Seliga Sebastian Seliga 19.12.2022 10:31
Crypto Industry News: The Central Bank of Russia is ready to consider allowing the use of cryptocurrency in the country. However, if it comes to that, it will only be as part of a legal experiment, said Governor Elvira Nabiullina. "It is possible to consider transactions through an authorized organization in the country as part of an experimental legal regime. However, this would require the relevant law," Nabiullina said at a Bank of Russia press conference on December 16. The main objection of the Bank of Russia to cryptocurrencies has always been that they cannot be used as a payment instrument, Nabiullina emphasized. She added that the central bank is also concerned about investor protection as the cryptocurrency market is very volatile. While Russia does not formally prohibit its citizens from investing in cryptocurrencies, the Bank of Russia believes that the massive adoption of cryptocurrencies will inevitably lead to their use as a payment method. Technical Market Outlook: The BTC/USD pair had made a local high at the level of $18,600 and since then the corrective cycle is developed. The market has broken below 100 MA on the H4 time frame chart and is consolidating around this level inside a narrow range. The volatility is limited, so the rage is seen between the levels of $16,541 - $16,720. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 ( November 28th low). The weak and negative momentum supports the short-term bearish outlook on the H4 time frame chart. Weekly Pivot Points: WR3 - $17,039 WR2 - $16,862 WR1 - $16,778 Weekly Pivot - $16,685 WS1 - $16,601 WS2 - $16,509 WS3 - $16,332 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term Relevance up to 09:00 2022-12-20 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305412
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Bankman-Fried's Attorneys Had Requested That He Be Released On $250,000 Bail

Sebastian Seliga Sebastian Seliga 20.12.2022 09:41
Crypto Industry News: Local media in the Bahamas reported that Sam Bankman-Fried had applied for bail. This came just two days after a court dismissed a previous SBF request, claiming that the founder of FTX posed a risk of absconding. The court then justified its decision. According to the information, Sam Bankman-Fried, who is currently serving a prison sentence for his role in the collapse of FTX, has filed a second appeal with the Supreme Court of the Bahamas, seeking release. This follows an earlier bail attempt that was turned down. On December 15, just over a month after the initial report was made, local media reported that the application would be considered on January 17. Earlier on December 13, Bankman-Fried's attorneys had requested that he be released on $250,000 bail because he had no previous criminal record and suffered from melancholy and insomnia. Moreover, he had no previous convictions on his record. The application for bail was denied as it was considered that there was a risk that the SBF would leave its jurisdiction. Meanwhile, the government of the Bahamas has declared that it will promptly execute any extradition request to the United States. This is a very likely option under the circumstances. In the United States, the case of the creator of the FTX cryptocurrency exchange is currently being investigated for eight different crimes. Some of them deal with money laundering, while others deal with banking and securities fraud. Technical Market Outlook: The BTC/USD pair had made a local low at the level of $16,268 in form of a Hammer candlestick pattern on H4 time frame chart. The market had broken below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $16,880. The volatility is still limited despite the recent spike down, so the rage is seen between the levels of $16,268 - $16,720. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 ( November 28th low). The weak and negative momentum supports the short-term bearish outlook on the H4 time frame chart. Weekly Pivot Points: WR3 - $17,039 WR2 - $16,862 WR1 - $16,778 Weekly Pivot - $16,685 WS1 - $16,601 WS2 - $16,509 WS3 - $16,332 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2022-12-21 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305575
The Central Bank Of India Became The Most Vocal Critics Of The Cryptocurrency Industry

Ethereum Will Continue Its Upward Movement Today

InstaForex Analysis InstaForex Analysis 20.12.2022 12:09
The past week has been just as tough for Ethereum as it has been for Bitcoin. The altcoin formed the biggest bearish candle since the beginning of November and made a bearish breakout of the $1,250 support level. The next target for sellers was the $1,200 level. Over the weekend, trading activity subsided, which allowed ETH to move into a consolidation phase and absorb free coin volumes. As a result, as of December 20, the cryptocurrency began testing the $1,200 support level. In case of a downward breakdown of this level, the asset risks going to a retest of $1,000. BTC and ETH It is impossible to consider the price movement of Ethereum at the current stage of the market without comparing it with the dynamics of Bitcoin. Assets move head to head and show similar signals on technical metrics. On Bitcoin, we have seen buying activity leading to a defense of the $16.6k level. We see a similar situation on the Ethereum charts, however, unlike BTC, there is an activation of bears near the $1,220 level. However, in general, the bulls managed to accumulate solid volumes at the very start of the trading day, which happens infrequently, given the strategies of the Asian region. Given the bullish morning, it is likely that with the opening of U.S. markets, the situation will improve. Ethereum on-chain activity As of writing, the sharp activation of buyers is not supported by the growth of on-chain activity for several days. This may indicate manipulation by the market maker, who needs to keep the price above the $1,200 level. At the same time, it is quite acceptable that the on-chain activity of the cryptocurrency will begin to grow with the upward movement of ETH/USD. However, if the price of ETH continues to rise without a parallel increase in activity in the altcoin network, then the altcoin price increase should be considered manipulation and a bull trap. ETH/USD Analysis There is reason to believe that Ethereum will continue its upward movement on December 20. The technical metrics of the asset indicate the emergence of a local upward trend. On the daily chart, there is an increase in sales volumes and reversal of the RSI metric upward. The stochastic oscillator formed a bullish crossover near the green zone and also turned up. These signals confirm the presence of active buyers, and therefore we should expect a retest of resistance levels. The price of ETH/USD is moving towards the $1,220 level, which is a key resistance zone. The bulls have already managed to absorb some of the bearish volumes, but sellers have stepped up near the $1,200 level. On the 2-hour chart, we see a gradual expiration of the bullish potential, which was more likely a reaction to the $1,150 level spike. Moreover, we see a flat RSI and stochastic, which indicates a weakening of the bullish momentum and a gradual decrease in buying activity. Results Ethereum managed to defend the $1,200 mark, but the bears tested the $1,150 level. This triggered a backlash from buyers and buying back bearish volumes, which prevented the price from gaining a foothold below $1,200. However, as of wriritng, the bullish momentum begins to fade, and the advantage gradually shifts to the bears. Despite this, the altcoin has chances for further growth with the corresponding BTC price action and bullish sentiment in the stock market. ETH will not be able to gain a foothold above $1,220 without additional market maker moves and before the opening of U.S. trading. Relevance up to 09:00 2022-12-21 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/330282
Nuclear Power Emerges as Top Theme for 2023, Bubble Stocks Under Pressure

Indonesia Has Potential In The Development Of Solar Energy

Kamila Szypuła Kamila Szypuła 21.12.2022 11:23
For the last few years, countries around the world have been doing what they can to achieve net zero. The effects of the actions are also visible in Asia, and the development of, for example, solar panels may be even faster, especially in Indonesia. Changes also took place on banknotes in the UK after the death of Queen Elizabeth. Soon the image of King Charles will be officially visible on banknotes. In this article: Banknotes with a portrait of King Charles III Potential solar energy Brutal year for the cryptocurrency world UK’s new banknotes The tradition of putting monarchs on banknotes did not start until the 1960s. Coins have long featured images of the ruler. After the death of Queen Elizabeth II for 70 years, the Royal Mint began work on new banknotes with the image of the successor. The Bank of England published on Tuesday photos of the first banknotes with a portrait of King Charles III. The new £5, £10, £20 and £50 polymer notes feature the king's portrait on a transparent security panel. Other than that, they are unchanged from the designs currently in circulation. They will officially enter circulation in mid-2024. For now, coins and notes with the portrait of the late Queen will continue to be legal tender in the UK New British banknotes featuring portrait of King Charles III revealed @hannahswg https://t.co/6jW17l6SuI — Ted Kemp (@TedKempCNBC) December 21, 2022 Read next: Nike Saw Strong Demand And Raised Its Revenue Forecast| FXMAG.COM The potential of solar energy The solar PV industry in Indonesia hopes that better prospects are just around the corner as solar PV costs continue to fall and reforms improve the business case. Last year, Indonesia's energy ministry approved a new 10-year business plan that sees renewable projects account for more than half of planned new capacity, a 25 percent increase over the previous plan. Indonesian energy ministry introduced improved conditions for solar power on grid roofs, reducing permitting time and increasing export credit The regional government wants renewables, mostly solar, to drive 35 percent of the province's approximately 5 million electricity generation by 2025, and has committed to reducing emissions by 31.9 percent by 2030 as part of the plans. Which means that Indonesia is on the right track to increase the potential of solar energy. This is particularly important as the country is the world's largest exporter of thermal coal and the state-owned grid, Perusahaan Listrik Negara (PLN), relies on domestic supplies to power two-thirds of electricity production. Indonesia has more potential solar energy than all the world’s power plants combined, but the archipelago faces many challenges weaning itself off fossil fuels. Read F&D to learn why. https://t.co/6ugA46WPS3 pic.twitter.com/24andHqVuQ — IMF (@IMFNews) December 21, 2022 Brutal year for the cryptocurrency world This year has undoubtedly been brutal for the markets, including the cryptocurrency market. It was a brutal reality check for an industry that started 2022 with dreams of widespread mainstream institutional adoption, of even gold being replaced by bitcoin as a global hedge against inflation. Now time has shown that gold still has its strength in difficult times, and bitcoin turned out to be not as stable as it might seem at first. UBS strategist James Malcolm points to the growing correlation between cryptocurrencies and US small-cap stocks as evidence of how bitcoin and other tokens can survive marginally as niche, diverse assets in investment portfolios. WATCH: The year 2022 has been brutal for the cryptocurrency world. Crypto met with Fed hawkishness, the crash of stablecoin TerraUSD, and fund and broker bankruptcies. Then came the collapse of Sam Bankman-Fried's FTX exchange https://t.co/bEZ8SAKBWf pic.twitter.com/jEl4LAgRkd — Reuters Business (@ReutersBiz) December 21, 2022
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

The Down Trend Of Bitcoin Continues Without Any Indication Of A Possible Trend Termination Or Reversal

Sebastian Seliga Sebastian Seliga 22.12.2022 14:16
Crypto Industry News: Former FTX CEO Sam Bankman-Fried (SBF), who was held by Bahamian authorities, faces extradition to the United States after questioning. According to reports, Bankman-Fried appeared on December 21 in a Bahamas Magistrates' Court hearing - his third since his arrest - where he waived his right to a formal extradition process that could take weeks. Officials from the U.S. Embassy, the Federal Bureau of Investigation, and the U.S. Marshals Service were reportedly present to facilitate Bankman-Fried's handover. Reuters reported that the SBF legal team said the former CEO "wanted to leave" the Bahamas. Jerome Roberts of Bankman-Fried's legal team reportedly heard the SBF say on December 19 that his decision was motivated by a desire to "put clients back on their feet." More than a million creditors from FTX have been without access to their funds for weeks. Bahamas officials arrested Bankman-Fried on December 12 as part of extradition proceedings to the United States, where he faces Department of Justice charges of defrauding investors and lenders, as well as lawsuits filed by the CFTC and the SEC. Prior to SBF's resignation on November 11, FTX and related individuals allegedly violated campaign finance laws through "dark money" donations and used customer assets to fund investments in Alameda Research. After being denied bail, the former CEO spent more than a week in custody at Fox Hill Prison in the Bahamas, a facility notorious for physical abuse of inmates and harsh conditions. He would likely be entitled to another bail hearing in the US court proceedings once his extradition is complete. Technical Market Outlook: The BTC/USD pair had made a local high at the level of $17,055 in form of a Pin Bar candlestick pattern on H4 time frame chart. The market keeps trading below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $16,880. The volatility is still limited despite the recent spike down, so the trading rage is seen between the levels of $16,268 - $16,720. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). The weak and negative momentum supports the short-term bearish outlook on the H4 time frame chart. Weekly Pivot Points: WR3 - $17,039 WR2 - $16,862 WR1 - $16,778 Weekly Pivot - $16,685 WS1 - $16,601 WS2 - $16,509 WS3 - $16,332 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 10:00 2022-12-23 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305974
Bitcoin Maintains A Steady Bullish Potential

Bitcoin Is Showing A Potential For The Further Rally

Peter Jacimovic Peter Jacimovic 23.12.2022 09:37
Technical analysis: BTC/USD has been trading sideways at the price of $16.830. Anyway, I see potential for the breakout play. Trading recommendation: In case of the upside breakout of the key resistance at the price of $16.920, watch for buying opportunities with the upside objective at the price of $17.300 There is fake breakout of the support in the background, which is another good sign for the further rally. Relevance up to 09:00 2022-12-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306128
Bitcoin Is In A Continuous Upward Trend For 17 Days Straight

Former Alameda Research CEO Caroline Ellison And FTX Co-Founder Gary Wang Have Pleaded Guilty

Sebastian Seliga Sebastian Seliga 23.12.2022 10:37
Crypto Industry News: Former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang have pleaded guilty to federal fraud charges and are cooperating in the Justice Department's investigation of former FTX CEO Sam Bankman-Fried. The US Attorney for the Southern District of New York (SDNY) Damian Williams made this information public on December 22, emphasizing that this latest major event is unlikely to be the last. Williams also confirmed that the SBF is now in Federal Bureau of Investigation custody and is "on his way back to the United States" where he will be flown directly to the Southern District of New York to appear before a judge "as soon as possible." In a separate proceeding, the U.S. Securities and Exchange Commission announced on Dec. 21 that it had charged Ellison and Wang for their involvement in a "multi-year plan to defraud equity investors in FTX," adding that it was also investigating other securities law violations and other related entities and individuals with misconduct. The SEC noted that both Ellison and Wang are also cooperating with ongoing investigations. Technical Market Outlook: The BTC/USD pair had made a local high at the level of $17,055 in form of a Pin Bar candlestick pattern on H4 time frame chart. The market keeps trading below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $16,880. The volatility is still limited despite the recent spike down, so the trading rage is seen between the levels of $16,268 - $16,720. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). On the higher time frame, like weekly, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. Weekly Pivot Points: WR3 - $17,039 WR2 - $16,862 WR1 - $16,778 Weekly Pivot - $16,685 WS1 - $16,601 WS2 - $16,509 WS3 - $16,332 Read next: According To The Economist Intelligence Unit (EIU), Cities In Europe And Canada Are The Best To Live In| FXMAG.COM Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2022-12-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306141
The Bitcoin Fall Will Likely Continue In The Future

The Downward Trend For Bitcoin Remains In Place

Marek Petkovich Marek Petkovich 23.12.2022 13:17
Risky assets, including Bitcoin, really wanted a holiday for Christmas, but it looks like Santa Claus isn't going to give them gifts this year—BTCUSD has not gone far from its two-year low in November. The pair have lost two-thirds of its value since the beginning of the year amid tightening monetary policy by the Federal Reserve, the collapse of the Terra/Luna ecosystem and the bankruptcies of hedge fund Three Arrows Capital and the FTX exchange. Will the cryptocurrency leader be able to recover in 2023? Or will the decline into the abyss continue? According to Fairlead Strategies, the inability of Bitcoin to cling to important levels in the 17,000–18,000 range indicates the bulls' weakness. The company expects quotes to fall to 15,600 in the coming weeks and 13,900 in the medium term. Standard Chartered issues a shocking forecast for BTCUSD to fall to 5,000. Not only will the crypto winter not end, but it will gain momentum. In fact, to clarify the fate of the leader of the cryptocurrency sector, you need to look at the U.S. stock market. Yes, their paths in 2022 diverged from time to time. However, this is related to the news from the world of the crypto industry and is normal. Assets of the same class move in sync most of the time, but can move in opposite directions if unique drivers emerge. But discrepancies are usually temporary. Bitcoin and S&P 500 Dynamics Bitcoin is a risky asset, and the wind for risky assets is created by stock indices. Their outlook remains rather bearish. The Fed continues to raise the federal funds rate, the U.S. economy is losing steam, and corporate profits are deteriorating. All this suggests that, at least in the first quarter, the S&P 500 and the like will remain under pressure. In the meantime, the stock market has retained the old patterns. For most of the second half of the year, it fell on good news about the U.S. economy and rose on bad news. In the latter case, investors believed that the approaching recession would force the Fed to slow down its tightening of monetary policy, if not stop it altogether. That is why the broad stock index fell in response to better-than-expected jobless claims and an upward revision of U.S. GDP for July–September to 3.2%. The S&P 500 fell, and so did Bitcoin. In my opinion, their close interaction will continue in 2023. However, there are still a few days left until the end of 2022, which can bring with them the Christmas Rally. Usually in December, the broad stock index has risen by an average of 1.5% since 1950. Now it has collapsed by 5%. If Santa Claus gets down to business, as before, BTCUSD quotes can rise. Technically, the downward trend for BTCUSD remains in place. The strategy of sales from 18,000 announced in previous materials with profit taking at the level of 16,500 worked out with a bang. The inability of Bitcoin to overcome the resistances at 17,200 and 17,400 is a reason for the formation of shorts. Relevance up to 08:00 2022-12-28 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/330636
Technical Outlook Of The Further Movement Of Bitcoin

Japan's New Stablecoin Regulations Is Allowing The Distribution

Sebastian Seliga Sebastian Seliga 27.12.2022 08:37
Crypto Industry News: Japanese regulators are rethinking some cryptocurrency restrictions. This time it's about those related to the use of stablecoins, such as Tether The Japanese Financial Services Agency (FSA) will lift the ban on the domestic distribution of foreign-issued stablecoins in 2023, the Nikkei news agency reported. "Japan's new stablecoin regulations will allow local exchanges to support stablecoin trading, subject to asset preservation through deposits and a cap on remittances. If stablecoin payments spread, international remittances could become faster and cheaper," the report said. Allowing the distribution of stablecoins in Japan will also require more anti-money laundering control regulations, the FSA noted. On Monday, the Office began collecting opinions on the proposal to lift the ban on stablecoins in Japan. As previously reported, the Japanese parliament passed a law prohibiting the issuance of stablecoins by non-bank institutions in June 2022. The latest change will have a significant impact on cryptocurrency trading services offered in Japan. Currently, no local exchange offers trading in stablecoins such as USDT or USDC. Technical Market Outlook: The BTC/USD pair had made a local high at the level of $17,055 in form of a Pin Bar candlestick pattern on H4 time frame chart and local low at the level of $16,271. The market keeps trading below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $17,057. The volatility is still limited despite the recent spike down, so the trading rage is seen between the levels of $16,268 - $17,057. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). On the higher time frame, like weekly, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. Weekly Pivot Points: WR3 - $17,153 WR2 - $16,998 WR1 - $16,916 Weekly Pivot - $16,845 WS1 - $16,746 WS2 - $16,688 WS3 - $16,533 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 07:00 2022-12-28 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306401
Bitcoin Is Showing The Potential For The Further Downside Rotation

Bitcoin Is Showing The Potential For The Further Downside Rotation

Peter Jacimovic Peter Jacimovic 27.12.2022 09:43
Technical analysis: BTC/USD has been trading upside as I expected and there is potential for the further downside rotation. Trading recommendation: Due to the rejection of the resistance cluster at the price of $16.900, I see potential for the further downside rotation. Watch for the potential selling opportunities with the downside objective at $16.780. Stochastic oscillator is showing fresh downside cross, which is strong sign that sellers are in control. Key resistance is set at the price of $16.950   Relevance up to 08:00 2022-12-28 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306423
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

Bitcoin Has Not Evolved Into A Way To Protect Against Inflation

Paolo Greco Paolo Greco 28.12.2022 08:20
The price of the bitcoin cryptocurrency remains unchanged and is currently below the $18,500 mark. Remember that this is the exact scenario that we have discussed numerous times, so everything is now going as expected. The "bitcoin" may currently remain in the flat position for a few weeks or months, but eventually, we anticipate it to drop at least to the level of $12,426. Just yesterday, we were talking about how bitcoin proponents were attacked rather "harshly" by billionaire Mark Cuban, who claimed that bitcoin is much better than gold. But, you know, if we had to choose between Cuban, who is a bitcoin investor himself, and a sizable organization like JP Morgan, we'd go with the latter. Additionally, according to JP Morgan's experts, the majority of institutional investors do not even recognize bitcoin as an asset class. Due to high volatility and a lack of internal profitability, which could be reflected in the reports and thereby justify the investment, they are not likely to invest in it anytime soon. According to JP Morgan, Bitcoin has not evolved into "digital gold" or a way to protect against inflation. We can also speak for ourselves when we say that bitcoin is not an analog of money, a replacement for money, or a substitute for cross-border payments. We can only conclude that it is still a high-risk, extremely volatile investment instrument after 15 years of its existence. This choice is suitable for some investors, so they purchase cryptocurrency. Two very crucial factors were already brought to the traders' attention earlier on. First, why isn't bitcoin increasing if it has reached the "bottom"? Remember that every major trend eventually shifts sharply and strongly in the opposite direction as market players start to close a large number of profitable transactions. It is also true in the case of bitcoin that many people would like to purchase it at the current "very low" price levels. But for some reason, nobody is pressing to make a purchase. The second is that almost no market participants are prepared to invest in it because they anticipate an even bigger fall because the fundamental background for "bitcoin" is still very difficult. Why buy bitcoin now if almost everyone (aside from Michael Saylor) is anticipating a new decline in its price? Therefore, we still anticipate it to drop to the $12,426 minimum. According to many experts, it is quite capable of demonstrating movement up to $5,000 per coin. The "bitcoin" quotes over the past 24 hours have remained below the level of $18,500. From our perspective, the future decline may continue, with a target of $12,426. This might not occur soon enough, though, as each new collapse was followed by a flat period, which we are currently experiencing. This does not, however, indicate that the bearish trend is over.   Relevance up to 14:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/330911
The G20 And IMF Are Already Preparing Their Crypto Regulation

The Crypto Industry Will Need Some Time To Fully Recover From The Collapse

Paolo Greco Paolo Greco 28.12.2022 08:25
On the 4-hour TF, it is evident that bitcoin has deviated below the ascending trend line, but overall, since the most recent collapse, it has been mostly moving sideways, which is exactly what we anticipated. Remember that the "collapse-flat-collapse" trading strategy will be used in 2022 when bitcoin is traded. As a result, despite crossing over the trend line, a long flat can now be seen. There are additional unfavorable projections from reputable market participants in addition to the statements made by JP Morgan, which we discussed in the previous article. Remember that individuals like Mark Cuban have a personal stake in the success of the first cryptocurrency ever created, so it stands to reason that they will exert every effort to increase demand. The rise in demand for bitcoin will determine how much it grows in the future. No demand, no expansion. Kuban's viewpoint is therefore undoubtedly very interesting, but we have grown accustomed to bitcoin owners only predicting the currency's future growth. I have a valid concern: why would Cuban and others advise someone to purchase a good that will "unquestionably increase in value"? Wouldn't it be simpler and better to purchase every coin available yourself to make the most money later? The truth is that for bitcoin to experience explosive growth, as many investors as possible should purchase it. Now, nobody wants to purchase it. The crypto industry will need some time to fully recover from the collapse of the FTX exchange, according to the analytical firm CryptoCompare. The company's experts also claimed that numerous other businesses were linked to the bankrupt exchange through loans and the FTT token, which is now, of course, worthless. As a result, CryptoCompare concludes that there may be new bankruptcies in 2023. Additional failures of significant market participants might cause "bitcoin" and other cryptocurrencies to fall even further. Therefore, even the internal fundamental background does not justify purchasing bitcoin. This is in addition to the general fundamental background that is currently working against cryptocurrencies in the face of the Fed and other Central Banks. The decline, in our opinion, will eventually continue. Anyhow, there isn't even a single buy signal at the moment. The first cryptocurrency ever traded with very little volatility and only moved sideways over the past few days. The quotes for "bitcoin" very quickly completed the formation of an upward trend on the 4-hour time frame and consolidated below the trend line. As a result, we are currently anticipating a new cryptocurrency drop with a target of $12,426. It might take place right now or in a few months. There are still no indications that bitcoin will experience rapid growth in the near future.   Relevance up to 14:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/330915
Sber And First Issue Of Gold-Backed Digital Financial Assets

Sber And First Issue Of Gold-Backed Digital Financial Assets

Sebastian Seliga Sebastian Seliga 28.12.2022 10:29
Crypto Industry News: Russia's largest bank, Sber (formerly known as Sberbank), has announced its first issue of gold-backed digital financial assets. The bank considers DFA to be a "great alternative" to investing in a de-dollarization environment. On December 26, Sber posted the news of its first gold-backed DFA release. The retailer and producer of metals, Solfer, became the first investor to acquire the issued assets. Gold-backed DFAs represent attesting monetary rights whose price and volume depend on gold prices. According to the legal documentation of the issue, the bank will provide potential investors with up to 150,000 DFA to purchase. The assets will be available for purchase until July 30, 2023. The document mentions "high risk" for investors rooted in these types of assets, including "risk of illiquidity". The current DFA legislation came into effect in 2020. In July 2022, Russian President Vladimir Putin signed a law banning digital financial assets as a payment method. In June, a subsidiary of another Russian state-owned bank, VTB Factoring, reported its first major transaction in digital financial assets. As part of the transaction, the bank's subsidiary acquired a tokenized debt pool of engineering company Metrowagonmash, issued via the Lighthouse fintech platform. Technical Market Outlook: The BTC/USD pair had made a local high at the level of $17,055 in form of a Pin Bar candlestick pattern on H4 time frame chart and local low at the level of $16,271. The market keeps trading below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $17,057. The volatility is still limited despite the recent spike down, so the trading rage is seen between the levels of $16,268 - $17,057. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). Weekly Pivot Points: WR3 - $17,153 WR2 - $16,998 WR1 - $16,916 Weekly Pivot - $16,845 WS1 - $16,746 WS2 - $16,688 WS3 - $16,533 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. Moreover, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 10:00 2022-12-29 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306567
The Crude Oil Market Situation Is Stable Despite Russia's Production Cuts

Russia Responded To The Europeans' Price Cap, China Reopening Story Is Not All Rosy!

Swissquote Bank Swissquote Bank 28.12.2022 10:24
Yesterday, Russia finally responded to the EU’s price cap on its oil exports, saying that they will simply stop exporting their oil to parties that ‘directly or indirectly use the mechanism of setting a price cap’. Crude Oil The latter announcement gave a minor boost to crude oil yesterday, but the barrel of American crude remained offered into the 50-DMA, near $81.60pb, and the price is back below the $80pb this morning. BUT, an eventual decrease in Russian oil supply gives support to the oil bulls’ in the medium run, along with other factors as China reopening and cold winter in America. China reopening news IMPORTANT to note: If the Chinese reopening story is positive for oil and commodity prices - and for the massively battered Chinese stocks, it’s bad news for global inflation. This is why we don’t see the US stocks gain on China reopening news, but we rather see them under a decent pressure, as the surge in Chinese demand will certainly boost inflation through higher energy and commodity prices. Inflation And in response to higher inflation, the central banks will continue hiking rates. As a result, the sovereign bond yields are higher, the stocks are lower, while the US dollar is mixed. Apple And Tesla Apple is down to lowest levels since summer 2021, and Tesla’s deep dive deepens by the day. Watch the full episode to find out more! 0:00 Intro 0:44 Russians won't sell oil to parties involved in price cap 3:32 China reopening story is not all rosy! 6:03 Bitcoin hash rate rings alarm bell 7:30 Tesla races to the bottom Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Russia #oil #ban #China #Covid #reopening #crudeoil #rally #inflation #expectations #USD #EUR #AUD #XAU #Bitcoin #Apple #Amazon #Tesla #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH  
The Bitcoin Fall Will Likely Continue In The Future

Bitcoin Is Showing A Good Sign For Futher Downside Movement

Peter Jacimovic Peter Jacimovic 29.12.2022 09:19
Technical analysis: BTC/USD has been trading downside as I expected. I found the breakout of the well defined trading range in the background, which is good sign for futher downside movement. Trading recommendation: Due to the strong downside trend in the background and the breakout of the trading range, I see potential for the further drop. Watch for the potential selling opportunities on the rallies with the downside objectives at $16.300 and $15.600. MACD oscillator is showing downside reading, which is good sign for further bearish movement. Key resistance is set at the price of $16.760 Relevance up to 09:00 2022-12-30 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306721
In The Coming Days Will Be The Final Consolidation Of Bitcoin

The Bitcoin (BTC/USD Pair) Had Made A Local High

Sebastian Seliga Sebastian Seliga 29.12.2022 10:27
Crypto Industry News: According to the latest news from Reuters, FTX and some of its former officers were indicted in a class action lawsuit on December 28. They demand a statement that FTX shares are not owned by the company. The same applies to identifiable customer assets held with Alameda. The lawsuit, which was filed in a Delaware court, mentioned that the now-defunct exchange was "committed to segregating customer accounts." At the same time, it noted that it enabled their "misappropriation", adding that customers should be paid first. The lawsuit reads: "Customers should not be lining up with secured or unsecured creditors in insolvency proceedings only to share the reduced assets of the FTX Group and Alameda." The lawsuit seeks to represent over 1 million FTX customers in the US and abroad. It also seeks a court ruling that funds held in the accounts of the American subsidiary of the cryptocurrency exchange FTX.US, as well as in FTX Trading accounts or other identifiable customer assets, are not the property of the company. If the court concludes that the property in question belongs to FTX, clients seek a judgment that gives them priority over paying creditors. Technical Market Outlook: The BTC/USD pair had made a local high at the level of $17,055 in form of a Pin Bar candlestick pattern on H4 time frame chart and local low at the level of $16,271. The market keeps trading below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $17,057. The volatility is still limited despite the recent spike down, so the trading rage is seen between the levels of $16,268 - $17,057. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). Weekly Pivot Points: WR3 - $17,153 WR2 - $16,998 WR1 - $16,916 Weekly Pivot - $16,845 WS1 - $16,746 WS2 - $16,688 WS3 - $16,533 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. Moreover, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2022-12-30 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306733
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

Bitcoin's Deeper Drop Should Force The Altcoin To Drop As Well

Ralph Shedler Ralph Shedler 29.12.2022 10:40
Bitcoin Cash continues to move somehow sideways in the short term. It was located at 99.58 at the time of writing. BTC/USD's retreat forced the altcoin to slip lower as well. Still, technically, BCH/USD stays above a buying zone. It remains to see how BTC/USD will react in the short term. Bitcoin's deeper drop should force the altcoin to drop as well. BCH/USD has dropped by 0.47% in the last 24 hours. BCH/USD Sideways Movement! From a technical point of view, the 97.52 - 95.15 zone stands as a support zone, while the ascending pitchfork's lower median line (lml) represents dynamic support. As long as it stays above these levels, the altcoin could develop a new leg higher. Only dropping and stabilizing below the lower median line (lml) and under 95.15 could invalidate a swing higher and could open the door for more declines. BCH/USD Forecast! Testing and resting the support levels as well as registering only false breakdowns could bring a new bullish momentum. This scenario is seen as a long opportunity. Relevance up to 09:00 2022-12-30 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306737
The Commodities: In The Near Term The Oil Market Remains Relatively Well Supplied

Oil Prices Are Falling, Markets Have Been Volatile Over The Last Few Weeks And There Are No Signs Of A Change Next Year

Craig Erlam Craig Erlam 29.12.2022 13:58
We continue to drift into year-end with investors having little to cling onto that’s going to drive markets one way or another. That is so often the case this time of year and while 2022 could have been different, given how chaotic the rest of the year has been, it has proven to not be the case. Investors are going into 2023 with a cautious mindset, prepared for more rate hikes, and expecting recessions around the globe. The bar is low but arguably reasonably so. While markets have remained choppy over the last couple of weeks, we haven’t seen any major developments that have changed the narrative at all going into next year. Well, perhaps ex-Japan where the central bank’s policy tweak may embolden those wanting to take it on more forcefully in the months ahead. Elsewhere, the focus will remain on terminal rates and just how forceful central banks will be in their bid to defeat inflation. The Fed in particular has remained very bullish on its rate intentions, so much so that it may have spooked investors a little at this month’s meeting. But that could quickly change in Q1 if the data allows. And then there’s China and its u-turn on Covid prevention. It’s been quite the shift from fighting every case to living with the virus and that creates enormous uncertainty for the start of the year as case numbers surge and the health system is overwhelmed. How the leadership will respond is about as clear as the data itself so for investors it will be a case of learning as we go using what little data and anecdotal evidence we have. That creates challenges domestically and in all likelihood globally as well. Paring gains again Oil prices are dropping for a second day, erasing some more of the pre-Christmas rally amid uncertainty over the Chinese outlook and the limited impact of Russia’s response to the G7 price cap. Volatility is likely going nowhere fast as we navigate another highly uncertain year, albeit one that surely promises plenty of surprises and twists and turns along the way. The US refilling the SPR should be supportive for the market and could have put a bit of a floor in place, although with so many moving parts, I don’t think anyone can say anything with any strong degree of conviction. OPEC+ could make an announcement at any point and suddenly everything changes. Not to mention Russia’s war in Ukraine and how that develops. Read next: EUR/USD Pair Remains Within Its Horizontal Trading Range, The Aussie Failed To Break The Resistance At 0.68| FXMAG.COM Settling around $1,800 Gold is continuing to hover around $1,800 where it has traded roughly $30 on either side throughout the bulk of December. It seems gold traders, like the rest of us, have an idea of what the Fed will do early next year but are holding back as it doesn’t quite align with the hawkish narrative coming from the central bank. Patience may well be key on that front but with momentum running thin, the prospect of a correction is growing. More twists and turns ahead Bitcoin continues to happily tread water and watch the storm pass as it fluctuates in a range of around $16,000-$17,000. That’s broadly been the case over the last couple of weeks and it doesn’t look like changing in the coming days, barring any unexpected headlines. The question for many now is whether it has bottomed and how long it will take confidence to return, enabling a strong recovery. I’m not convinced by either in the near term and think there are plenty more twists and turns to come early next year. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
In Crypto, You Could Prove You Own A Private Key Without Revealing It

So-Called "Information Noise" Affects The Cryptocurrency Market

XTB Team XTB Team 29.12.2022 14:23
What affects the price of cryptocurrencies? Over the past years, the digital currency market has gathered a multi-million-strong community among others from traders, speculators and investment funds. This was mainly due to high volatility of those assets whose price movements are very dynamic and create potential earning potential. Beginner investors should pay attention to the price when starting cryptocurrency trading Bitcoin, trying to interpret it in the context of macroeconomic, market and political. This is due to the fact that the entry of large institutions and companies, such as GrayScale or Tesla, most likely ended the period in which cryptocurrency prices moved in a manner uncorrelated with the traditional stock exchange. Vitalik Buterin, the creator of the second most popular cryptocurrency - Ethereum, recently returned attention to the fact that the price of Bitcoin moves in a way that is strongly correlated with the index US tech companies on NASDAQ. This is an important aspect because the price Bitcoin is treated as an indicator of the condition of the entire crypto market, where a large price drop the oldest of the cryptocurrencies most often also causes drops in other coins. All that creates a system of connected vessels - from the "classic" exchange to the latest "altcoins", that's why it is important to keep up to date with important economic events. Other factors that have a significant impact on the price of cryptocurrencies include: Information on market entry or exit by large institutions and companies Actions taken by the largest Bitcoin holders - the so-called “whales” A growing market for Metaverse concepts Information on the further adoption of blockchain technology It is also worth noting that the cryptocurrency market is highly susceptible to the so-called "information noise", occurring most often in social media, where individual entries are known people have already had a significant influence on the formation of prices largest cryptocurrencies. A perfect example here is the case of Elon Musk, whose tweet about him considering withdrawing Bitcoin as accepted by The Tesla of the means of payment was caused by a several percent drop in the valuation of this currency. By trading on the XTB trading platform, the investor gains access to tools enabling monitoring of the current market situation, e.g. for news and analysis prepared by a team of professional Analysts. At the same time, built in platform, advanced technical analysis tools allow you to interpret movements prices and their assessment at every stage of the investment process.
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

The Bitcoin Market Has Peaked Supply With A Loss Of Around 55%

Sebastian Seliga Sebastian Seliga 30.12.2022 09:47
Crypto Industry News: According to CryptoQuant data published at the end of the year, the "supply in loss" is an indicator that measures the percentage of the total supply of bitcoin in circulation that is currently loss making. The metric works with the chain history of each circulating coin to see what price it was last traded at. If that previous value of any coin was higher than the last BTC price, then that coin is currently losing money, which is taken into account by the indicator. The relevant indicator is "supply in profit", and its value can be derived from "supply in loss", subtracting it from 100. The Bitcoin supply loss increased as the bear market extended. In the current BTC cycle, the market has peaked supply with a loss of around 55%, which is equivalent to most coins in circulation. The chart shows that the indicator also saw an uptrend as the 2018-2019 bear market continued and peaked above 60% when the BTC price also bottomed out. Also in the COVID "black swan" crisis in 2020, the supply of losses reached high values and touched the same level of 60%. Of course, despite all the steep price drops (in particular, the collapse of LUNA, the bankruptcy of 3AC, and the recent FTX crash), the indicator ends 2022 without reaching such heights. If the current cycle follows the same pattern making a bottom around 60%, then there is still some time to reach the indicator. And the only way an even greater supply would go into a loss state is if the price falls further. This means that 2023 will bring more problems for Bitcoin investors. Technical Market Outlook: The BTC/USD pair had made a local high at the level of $17,055 in form of a Pin Bar candlestick pattern on H4 time frame chart and local low at the level of $16,271. The market keeps trading below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $17,057. The volatility is still limited despite the recent spike down, so the trading rage is seen between the levels of $16,268 - $17,057. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). Weekly Pivot Points: WR3 - $17,153 WR2 - $16,998 WR1 - $16,916 Weekly Pivot - $16,845 WS1 - $16,746 WS2 - $16,688 WS3 - $16,533 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. Moreover, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2022-12-31 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306857
Bitcoin is trying to resume its upward movement

Further Downside Movement Is Expected For The Bitcoin Market

Peter Jacimovic Peter Jacimovic 30.12.2022 09:56
Technical analysis: BTC/USD has been trading downside and I found rejection of the key resistance cluster at $17.000. There is chance for further downside movement. Trading recommendation: Due to the rejection of the strong resistance at $17.000, I see potential for the further downside movement towards lower references. Watch for the potential selling opportunities on the rallies with the downside objective at the price of $15.640. MACD oscillator is showing fresh downside momentum, which is strong sign that sellers are in control. Key support is set at the price of $15.640 Relevance up to 09:00 2022-12-31 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306861
Technical Outlook Of The Further Movement Of Bitcoin

Bitcoin And Ether Have Not Shown Signs Of A Trend Reversal

ByBit Analysis ByBit Analysis 30.12.2022 13:49
Macro and Overall Risk Sentiment In a week without major economic data releases, the outlook for U.S. equities remains dim as concerns over a possible recession in 2023 and declining earning projections from major index heavyweights dampened investors’ sentiment. It’s noteworthy that the focus in the mainstream media has shifted from inflation worries to recession woes.  Interestingly, the broader cryptocurrency market has experienced extraordinarily low volatility as equities experience large price swings, with BTCUSDT and ETHUSDT pairs ending the week with decreases of 1.3% and 1.7%, respectively.   Learn more on Binance.com BTCUSDT Perpetual Bitcoin broke down from a consolidation channel that has formed since November and has since moved in a narrow range between $16.5k and $17k. A bearish pennant, which features a shoot-down followed by an ascending triangle, has been forming after the breakdown. However, there are still bright spots indicating that a downside is limited as professional traders have turned cautiously optimistic. With open interests in terms of BTC at a stable level, the funding rate weighted by open interests has persistently remained positive, indicating an absence of widespread bearish bets on the largest cryptocurrency. Furthermore, the daily basis between the BTC spot and the nearest quarterly futures has flipped to positive, changing from a deep backwardation to a contango, painting a positive near-term picture. The long-short ratio of top trader accounts in centralized exchanges showed the bull has persistently taken the upper hand, suggesting an improved trader sentiment.  Check Out the Latest Prices, Charts, and Data for BTCUSDT! ETHUSDT Perpetual A downward trend has been observed in Ether’s 4-hour chart, facing an immediate resistance level at a 20-day EMA of $1,218. From the technical point of view, RSI remained within a neutral area on the daily chart and the Average Directional Movement Index, a technical indicator that measures the overall strength of a trend, remained below 20 in the past week, indicating a lack of direction in the market.  The bright spots are a stable and positive reading of the perpetual funding rate, while the daily basis of Ether between spots and the nearest quarterly futures is close to the neutral level in centralized exchanges. Similar to BTC, Ether has not shown signs of a trend reversal, but the downside may be limited.  Check Out the Latest Prices, Charts, and Data for ETHUSDT! Market Movers (Week-on-Week) BITUSDT (+16.5%) LDOUSDT (+7.2%) ICPUSDT (+5.6%) XCNUSDT (-32.9%) LPTUSDT (-21.7%) WAVESUSDT (-20.2%) New Derivatives Listings — What’s New on Bybit? Trade with up to 25x leverage on our new trading pairs: MAGICUSDT BTCUSD0630 ETHUSD0630 Source: Bybit Blog | Market Turns Cautiously Optimistic After BTC and ETH’s Breakdowns
Crude Oil Upward Trend Remains Limited

Prices Of Energy Resources In Europe Have Already Started To Fall, The Picture Of Forex And Crypto Market

XTB Team XTB Team 30.12.2022 14:36
Energy resources: OIL, NATGAS The entire world is heavily dependent on conventional energy sources such as oil petroleum, natural gas or coal, so there is a clear connection between the raw materials energy and inflation. When prices move moderately, producers do not they change react immediately because they can take advantage of economies of scale. The problem occurs in when the price increases several times and the producers' costs have to be passed on to consumers. As we mentioned earlier, the current situation is reminiscent of the 70s of the last century, when the energy crisis led to an inflationary spiral. As then, so now the supply of oil is strongly limited (initially artificially, and now due to problems in the supply chain and lack of appropriate investment in production capacity). It is true that the supply is slowly growing, but the demand recovers much faster, which has led to a huge increase in raw material prices. Oil and natural gas prices in Europe have already started to fall from near historic highs. The question, however, is whether the market is experiencing demand destruction? Stocks of raw materials are at exceptionally low levels, with no greater ones on the horizon investment in the extractive sector, and countries with spare production capacity will take advantage of the current high prices. Therefore, there is a risk of extending the period of highs prices, as it was in the 1970s and in 2011-2014. In addition, when we adjust oil prices for inflation, we can see that after the initial increase at the beginning in the 1970s, the valuation of this raw material remained at a high level until the early 1980s. It is another argument proving that without an adequate increase in supply, high oil prices can stay with us longer. Forex market: EURUSD, USDJPY The recent return of higher and volatile global price dynamics has triggered a surge exchange rate volatility and depreciation of the currencies of countries with the highest inflation rate. In In times of economic uncertainty, investors tend to turn to safe haven currencies (the so-called safe havens of the foreign exchange market), mainly the US dollar. Also and this time it was no different, and the dollar index rebounded from the June 2021 lows by over 20%. Meanwhile, the trade-weighted index (TWI) remains at elevated levels. This index, adjusted for inflation, measures the strength of the US dollar against the currencies of major partners of the United States. We see that the TWI REER USD index has strengthened significantly in recent years, which may indicate that the dollar is overvalued. When it comes to EURUSD, however, the situation is more complicated. In mid-July 2022 euros reached parity with the dollar, falling to its lowest level in 20 years. this fall it was triggered not only by the strength of the US currency, but also because of the crisis as a consequence of the war between Russia and Ukraine. High energy prices in Europe have worsened trading conditions in the euro area, leading to an even greater depreciation of the single currency. There is no indication that energy prices will fall in the near future, but if such a scenario materializes, the euro would have a chance to move away from the parity level. In the case of EURUSD, the market's attention is focused on the weakness of the euro, while in the case of USDJPY monetary policy sets the pace. Since the early 2000s, the Bank of Japan has pursued an ultra-loose policy monetary policy while controlling the bond yield curve. This has not changed even after inflation started to rise. Meanwhile, the Fed turned its stance 180 degrees to strangle inflation through aggressive interest rate hikes. The difference in bond yields is a key factor for this pair, even if the Bank of Japan decides to change its current policy. Cryptocurrencies: BITCOIN, ETHEREUM Cryptocurrencies are still a young asset class. The history of Bitcoin goes back a little over 10 years, a most of the remaining cryptocurrencies (so-called altcoins) were created after 2017, which is why the reactions of the cryptocurrency exchange rate to the increase in the level of inflation are not sufficiently known. from this Therefore, when trying to assess digital asset quotes, it is difficult to rely solely on on historical data. Due to the tendency of investors to buy cryptocurrencies as part of diversifying their exposure to traditional financial markets, as well as the involvement of institutions in this market, begins to be a visible correlation between the reactions of debt-financed companies and the price of Bitcoin. Movements Cryptocurrency rates in response to rising inflation are beginning to resemble stock market reactions, which based on historical data are a bit easier to track and analyze. As a rule, rising inflation is not conducive to the valuation of risky assets and becomes a disadvantage for them burden when central banks decide to tighten monetary policy. Rate hikes interest rates, difficulties in obtaining capital and the rising cost of living in a recessionary environment indicate a decrease in risk sentiment and decreases in the valuation of risky assets. having it in mind, the cryptocurrency market will not be helped by rising inflation, which prompts banks to raise Stop. Therefore, even if the trend of cryptocurrency adoption continues - and they are noticeable signals that this is the case - movements on the charts of individual cryptocurrencies may resemble those of US100, only on a larger scale. Five key facts about cryptocurrency adoption BlackRock creates a bitcoin trust fund for US investors institutional and begins cooperation with Coinbase JP Morgan creates an open living room inside the Decentraland metaverse and explores the possibilities blockchain technology Ethereum processed 1.45 million smart contracts in Q1 2022 vs. 1.16 million in Q4 2021 (up 25%) NFT popularity is growing: 7.84 million transactions in OpenSea in Q1 2022 vs. 4.85 million carried out in Q4 2021 (up 61.6%) 46 million Americans own Bitcoins and 1 billion people will use cryptocurrencies in over the next 4 years
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

El Salvador's President Decided To Install Over 200 Cryptocurrency ATMs To Make Bitcoin More Common In Use

Sebastian Seliga Sebastian Seliga 02.01.2023 10:13
Crypto Industry News: El Salvador, the first country to legalize Bitcoin, was pushed off the podium in terms of the total number of cryptocurrency ATM installations. This happened because Australia recorded 216 ATMs entering 2023. As part of El Salvador's push to establish Bitcoin as legal tender, President Nayib Bukele has decided to install more than 200 cryptocurrency ATMs across the country. The move made El Salvador the third largest cryptocurrency ATM center in the world. However, Spain and Australia have leapfrogged the Central American country's ATM count in 2022. In October 2022, the media reported that Spain had become the third largest crypto ATM hub after installing 215 ATMs. The country continued its installation activities and has 226 of these machines at the time of writing. El Salvador's position as the fourth largest cryptocurrency ATM hub was short-lived as Australia stepped up its efforts in the following months. In the last quarter of 2022, Australia deployed 99 cryptocurrency ATMs. As of January 1, 2023, Australia recorded 219 active ATMs, surpassing El Salvador by 7 ATMs. Australia represents 0.6% of global ATM installations and at this rate is well positioned to climb. The total number of such devices in the world is 38,602, of which 6,071 were installed in 2022 alone. Technical Market Outlook: The BTC/USD pair had keeps trading below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $17,057. The volatility is still limited despite the recent spike down, so the trading rage is seen between the levels of $16,268 - $17,057. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). On the other hand, a breakout above the level of $17,057 is needed in order to extend the rally towards the key short-term technical resistance seen at $18,360. Weekly Pivot Points: WR3 - $17,051 WR2 - $16,841 WR1 - $16,758 Weekly Pivot - $16,662 WS1 - $16,548 WS2 - $16,422 WS3 - $16,213 Read next: Walmart Has Ambitions To Become An E-Commerce Leader| FXMAG.COM Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. Moreover, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term. Relevance up to 09:00 2023-01-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306988
Bitcoin is trying to resume its upward movement

Bitcoin Has A Potential For The Further Growth Towards Next Upside Objective

Peter Jacimovic Peter Jacimovic 02.01.2023 10:36
Technical analysis: BTC/USD has been trading upside this morning but I found breakout of the key resistance zone at the price of $16.630, which is sign that buyers are in control. Trading recommendation: Due to the breakout of the resistance zone and hold above this key level, I see potetnial for the further growth towards next upside objective. Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $16.900. Key support is set at the price of $16.630 Read next: Walmart Has Ambitions To Become An E-Commerce Leader| FXMAG.COM Relevance up to 10:00 2023-01-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306994
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

The Upside Movement Of The Bitcoin Can Be Continued

Peter Jacimovic Peter Jacimovic 03.01.2023 09:12
Technical analysis: BTC/USD has been trading upside as I expected and there is the potential for the further growth towards the upper references. Trading recommendation: Due to the breakout of the defined trading range to the upside, I see potential for the further growth. Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $16.900 Stochastic oscillator is showing fresh bull cross and potential for the further growth. Key support is set at the price of $16.500   Relevance up to 08:00 2023-01-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/307121
US Inflation Slows as Spending Stalls: Glimmers of Hope for Economic Outlook

Tesla Hit A Fresh Record, FOMC Minutes And US Jobs Will Give Direction

Swissquote Bank Swissquote Bank 03.01.2023 10:53
The New Year started with the IMF Chief Georgieva warning that the global economy faces ‘a tough year, tougher than the year we leave behind’. German PMI German PMI data pointed at a faster than expected contraction in manufacturing activity in December, while the European manufacturing PMI came in at 47.8, in line with expectations. European markets This being said, trading in European markets was rather optimistic on the first trading day of the year, as European nat gas futures eased on mild weather. Forex The US dollar index kicked off the year on a subdued note, letting the dollar-yen tip a toe below the 130 mark. The EURUSD however, couldn’t build on gains above the 1.07 mark, while Cable remained steady-ish a touch above its 200-DMA, which stands near 1.2030 level. Gold Gold jumped to $1843 per ounce despite the positive pressure on the yields recently, while oil remained offered into the 50-DMA, which stands a touch below the $81 per barrel mark. Bitcoin Trading in Bitcoin remains boring. US data and OPEC On the economic data front, we will watch FOMC minutes, US jobs data, and OPEC meeting this week. EV On individual stocks front, carmakers announce their Q4 deliveries. Tesla hit a fresh record, but the number of cars delivered last quarter fell short of expectations, while Rivian reportedly doubled production in the final quarter of 2022 to hit its 25’000 yearly target. Watch the full episode to find out more! 0:00 Intro 0:17 IMF warns that 2023 could be tougher than 2022 1:31 Chinese data disappoint 2:42 But European stocks remain bid 4:41 FOMC minutes & US jobs will give direction 6:07 US crude tests 50-DMA resistance 7:33 Tesla's record Q4 deliveries fall short of expectations Ipek Ozkardeskaya  Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #HappyNewYear #2023 #IMF #warning #economic #recession #China #Covid #energy #crisis #USD #EUR #JPY #Bitcoin #XAU #Tesla #Rivian #deliveries #FOMC #minutes #OPEC #US #jobs #data #NFP #DAX #CAC #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
Now The Ethereum Market Is On The Monthly Highs Trying

The New Regulations Give The Bank Of Russia Great Powers And Support The Development Of The Necessary Payment Infrastructure For The Digital Ruble

Sebastian Seliga Sebastian Seliga 03.01.2023 12:12
Crypto Industry News: A group of Russian lawmakers, led by the chairman of the Financial Market Committee Anatoly Aksakov, submitted a draft law on the digital ruble, a central bank digital currency (CBDC) issued by the Russian monetary authority. The document proposes legislative changes that are to create conditions for the implementation of the project. According to the explanatory notes to the bill, cited by the RBC news portal, the main goal of the bill is to develop the necessary payment infrastructure for the digital ruble. Officials believe that this will provide Russian citizens, companies and the state with access to fast, convenient and cheap transfers. The Act also aims to amend several existing provisions. For example, the law "On the national payment system" to which members of the Duma want to add definitions related to CBDC issues. The new regulations give the Bank of Russia a lot of power and make it the sole operator of the CBDC platform. They also establish procedures for opening digital ruble wallets and accessing said platform. The amendment to the Law "On Currency Regulation and Currency Control" secures the status of the digital ruble as the currency of the Russian Federation and defines CBDCs issued by central banks of other countries as foreign currencies. In turn, amendments to the federal law "On Personal Data" allow the Russian Central Bank to process personal data without obtaining consent and without the need to notify the authority responsible for the protection of personal data rights in advance. Technical Market Outlook: The Ethereum cryptocurrency has retraced 38% of the last wave down on the H4 time frame chart and is currently trading close to this level. The 100 SMA is seen at the level of $1,246, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The key short-term technical support is seen at the level of $1,183. Please notice the spike in the momentum indicator on the H4 time frame chart to the positive territory. Weekly Pivot Points: WR3 - $1,258 WR2 - $1,232 WR1 - $1,220 Weekly Pivot - $1,205 WS1 - $1,191 WS2 - $1,178 WS3 - $1,152 Read next: New Record For Electric Car Manufacturer - Tesla Deliveries Increased By 40% Year-On-Year| FXMAG.COM Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 11:00 2023-01-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/307167
Bitcoin Has Made A Dynamic And Aggressive Reversal

The Volatility Of Bitcoin Is Still Limited Despite The Recent Spike Down

Sebastian Seliga Sebastian Seliga 03.01.2023 12:19
Crypto Industry News: Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva shared the IMF's predictions for the US, EU, China and the global economy in an interview with CBS aired Sunday. "Here's what we'll see in 2023. It's going to be a tough year for the global economy, tougher than the one we're leaving behind. Why? Because all three major economies, US, EU, China, are slowing down at the same time," she said. They are the most resilient. The US can avoid recession. We see that the labor market remains quite strong. However, this is moderately good, because if the labor market is very strong, the Fed may have to keep interest rates higher for longer to bring inflation down," she continued head of the IMF. As she noted, "The EU has been very badly affected by the war in Ukraine. (...) The economy of the European Union will be in recession. China will slow down even more this year." "Next year will be difficult for China. And this translates into negative trends around the world," she added. She warned that "when we look at emerging markets in developing economies, the picture is even worse." "- Why? Because, to make matters worse, they are hit by high interest rates and the appreciation of the dollar. For these economies (...) it is a real devastation" - she explained. Referring to China, Georgieva noticed that the restrictions of the "zero covid" policy are being loosened in the Middle Kingdom. "For the first time in 40 years, China's economic growth in 2022 is likely to be equal to or lower than global growth. This has never happened before," she added. Read next: New Record For Electric Car Manufacturer - Tesla Deliveries Increased By 40% Year-On-Year| FXMAG.COM Technical Market Outlook: The BTC/USD pair had keeps trading below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $17,057. The volatility is still limited despite the recent spike down, so the trading rage is seen between the levels of $16,268 - $17,057. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). On the other hand, a breakout above the level of $17,057 is needed in order to extend the rally towards the key short-term technical resistance seen at $18,360. Weekly Pivot Points: WR3 - $17,051 WR2 - $16,841 WR1 - $16,758 Weekly Pivot - $16,662 WS1 - $16,548 WS2 - $16,422 WS3 - $16,213 Read next: The Korea Fair Trade Commission (KFTC) Will Impose A Fine Of $2.2 Million On Tesla Inc| FXMAG.COM Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. Moreover, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 11:00 2023-01-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/307169
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Bitcoin Is Experiencing The Most Bearish Pressure

InstaForex Analysis InstaForex Analysis 03.01.2023 12:24
Bitcoin greeted the New Year in absolute calm and updated its two-year low of trading volumes. The asset continued its consolidation period near the $16.5k level. However, the cryptocurrency intends to spend its birthday more brightly. After a local upward spurt to the $16.7k level, the main indicators of trading activity in the Bitcoin network continued their upward movement. This may mean that the cryptocurrency is preparing to end its period of consolidation and begin significant price movements. However, it is important to understand that, despite the possible attempts of the upward movement of Bitcoin, they will not be crowned with significant success. Despite the passage of peak moments, the sale of BTC coins by mining companies continues, which greatly complicates the upward movement of the cryptocurrency. The second key factor is the correlation between Bitcoin and SPX. The trading index completed the local bullish momentum and began to decline. The cryptocurrency duplicates the price action of the S&P 500 with a delay of several days, which may mean a retest of the $16.9k level and a subsequent decline to the usual levels. Bitcoin on-chain activity The network activity of Bitcoin does not show clear signals for the formation or the beginning of an upward movement. There is a divergence on the chart between volumes and the unique number of active addresses. This may indicate the activation of buyers and the presence of a local upward trend. But at the same time, low trading volumes indicate the absence of a large buyer that can significantly affect the price movement of the cryptocurrency. BTC/USD technical analysis On the daily chart, there are attempts to move the cryptocurrency up to the $16.9k level. Technical metrics show the development of bullish momentum and the continuation of the upward direction. RSI and stochastic oscillator are moving upward, indicating the activity of buyers. On the four-hour chart, the situation is not so rosy due to the activation of sellers around the $16.7k mark. At the end of yesterday's trading day, the price tested the $16.8k level, but subsequently began to decline. As of writing, Bitcoin is holding the $16.7k level, but for how long? Technical metrics on the 4H timeframe say that the bullish momentum has run its course, and the price will start to decline. The RSI reversed sharply to the downside, while the stochastic formed a bearish crossover. The signals were formed recently, which means that right now, the cryptocurrency is experiencing the most bearish pressure. Among the likely scenarios, it is worth highlighting a neutral option, in which an unsuccessful attempt to retest $16.8k ends near the $16.7k level. In this case, BTC continues to consolidate in the $16.5k–$16.7k range. In an unfavorable outcome, Bitcoin rolls back beyond the $16.5k level, and the price moves towards a $16k retest. Results The probability of a positive outcome in which Bitcoin breaks the $16.8k level and moves further upward to $17k is also possible. However, technical metrics and ongoing activity point to the main weakness of the attempt to realize bullish momentum—the absence of a strong buyer. If a major player does not appear soon and the price closes the trading day below $16.7k, we should expect a negative scenario to materialize. But when a major player appears, for example, after the opening of the U.S. markets, the probability of a neutral and positive outcome increases. Relevance up to 09:00 2023-01-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/331355
FX Daily: Upbeat China PMIs lift the mood

The Caixin Future Output Index Suggests Firms Are More Optimistic About The Longer-Term Outlook Since Covid-Zero Was Abandoned

Craig Erlam Craig Erlam 03.01.2023 12:40
A mixed start to trading on Tuesday as traders return following the festive break to some rather gloomy forecasts for the coming year. The IMF is among those warning of a tough year, more so than the one we’ve just left, as the simultaneous slowing down of the US, EU, and China takes its toll. Of course, all forecasts at this moment are subject to enormous uncertainty around the war in Ukraine, inflation, interest rates, and China’s Covid response, among others, but it seems almost everyone is going into 2023 with a healthy dose of trepidation. And following a series of nasty shocks last year, who can blame them? There is the potential for surprises this year to be of a more positive nature, of course, but as it stands, the outlook is understandably gloomy and will remain so unless something significant changes, either on the war in Ukraine or inflation. If inflationary pressures remain stubborn – and a strong, successful transition from zero-Covid to zero restrictions could enable that – then central banks will have little choice but to continue tightening monetary policy in order to bring it down. That is something the IMF strongly urged them to do, with stubbornly high inflation deemed a far greater risk over the longer term. As far as the economic calendar is concerned this week, we’re easing ourselves back in today with mostly revised PMIs and other tier-three data. Things will pick up on that front from tomorrow, with the December Fed minutes being released alongside some more significant data and that will continue into the end of the week when we get the first jobs report of the year. Read next: New Record For Electric Car Manufacturer - Tesla Deliveries Increased By 40% Year-On-Year| FXMAG.COM One interesting release this morning came from China, where the Caixin manufacturing PMI painted a less pessimistic picture than the official number over the weekend. While the surveys are different in the kind of firms they cover, it was interesting that the official number pointed to greater concern around the sector at the moment. That said, there does seem to be some promise in the Caixin future output index which suggests firms are more optimistic about the longer-term outlook since Covid-zero was abandoned despite the prospect of near-term difficulties. Range-bound Bitcoin has remained quite stable recently, hovering in the $16,000-17,000 range over the last few weeks. That may come as a relief to the crypto crowd after another rough few months. The new year no doubt has plenty in store for cryptocurrencies but in the short term, the community may just be hoping for no new scandals that will drive investors away. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Businesses Such As Microstrategy, Can Purchase Any Quantity Of Bitcoins And Hold Them On Their Balance Sheet For As Long As They Choose

Businesses Such As Microstrategy, Can Purchase Any Quantity Of Bitcoins And Hold Them On Their Balance Sheet For As Long As They Choose

Paolo Greco Paolo Greco 04.01.2023 08:03
On the 4-hour TF, it is evident that bitcoin has deviated below the ascending trend line, but overall, since the most recent decline, it has been mostly going sideways, which is exactly what we anticipated. Remember that the "collapse-flat-collapse" trading strategy will be used in 2022 when bitcoin is traded. As a result, despite crossing over the trend line, a protracted flat can now be seen. One of the more intriguing recent developments involved Microstrategy's acquisition of an additional 2.4K bitcoin coins. In light of this, the business, which was once run by Michael Saylor, is still making purchases of the original cryptocurrency. What is he doing, and why? Here, it's critical to comprehend each investor's specific capabilities. Suppose you want to invest $10,000 in bitcoin and are willing to do so. How long are you prepared to wait before seeing a return on your investment? Can you wait five or ten years? If so, the investment is quite rational given the likelihood that bitcoin will eventually expand once again. But what if you're down to your final $5,000–10,000 and you desperately need cash? At all costs, you must get rid of the investment. Businesses with financial means, such as Microstrategy, can purchase any quantity of bitcoins and hold them on their balance sheet for as long as they choose. Merely, the 5–10 years we discussed above. As a result, Microstrategy functions over a wide area. All 132.5 thousand coins were purchased for an average of $30,400. In other words, this investment is not profitable right now. But since the corporation is likely to keep purchasing, the average purchase price will drop and bitcoin will eventually increase in value. Even if this does not occur, the loss of several billion dollars will not cause the corporation to fail because it is so big. As opposed to numerous small and individual investors who might be purchasing coins with their last few dollars. Because of this, demand is currently not increasing. Many anticipate an even worse decline, and they typically invest in an asset while it is rising rather than declining. Of course, you can try to "guess" when the "bearish" trend will end, but how many people can foresee market reversals in cryptocurrency? In a market where Elon Musk's tweets can cause a $5–10,000 dollar movement? As a result, even though there are no buy indications, we do not advise taking long positions. The quotes for "bitcoin" very rapidly completed the creation of an upward trend in the 4-hour time frame and consolidated below the trend line. As a result, we are currently anticipating the cryptocurrency to continue falling, with a target price of $12,426. It might take place right now or in a few months. There are still no indications that bitcoin will experience rapid growth in the near future. Relevance up to 19:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/331397
The President Of El Salvador Continues To Promote Bitcoin

The Bitcoin Price Has Reached First Upside Objective

Peter Jacimovic Peter Jacimovic 04.01.2023 09:51
Technical analysis: BTC/USD has been trading upside this morning as I expected and the price has reached first upside objective at $16.900. Key resistance is on the test and watch carefully price action to confirm further direction. Trading recommendation: In case of the breakout and hold above resistance zone at $16.900, watch for buying opportunities with the next upside objective at $17.300 In case of the rejection of the resistance zone, watch for selling opportunities with the downside objective at $16.655 Relevance up to 09:00 2023-01-05 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/307288
Bitcoin Is Showing A Good Sign For The Further Rise

US Regulators Have Issued A Warning To Banks Regarding Cryptocurrencies

Sebastian Seliga Sebastian Seliga 04.01.2023 09:59
Crypto Industry News: The FDIC (Federal Deposit Insurance Corporation) and two other US regulators have issued a warning to banks regarding cryptocurrencies. In a joint statement, the Federal Reserve Board of Governors, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) said banks should be aware of the "significant volatility and vulnerability" the cryptocurrency sector has experienced over the past year. Regulators added that cryptocurrency-linked banks could be particularly at risk. The so-called "challenger banks", a new generation of financial institutions, have started to offer digital asset services around the world. "Based on the current situation and past experience, our agencies believe that issuing or holding core crypto assets that are issued, held or transferred on an open, public and/or decentralized network or similar system is likely to be inconsistent with secure banking practices " - we read in Monday's statement. Technical Market Outlook: The BTC/USD pair had keeps trading above 100 MA on the H4 time frame chart as the spike up continues towards the key short-term technical resistance. A breakout above the level of $17,057 is needed in order to extend the rally towards the key short-term technical resistance seen at $18,360, but for now the bulls are still trading below the level of $16,950. On the other hand, any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). Strong and positive momentum support the short-term bullish outlook. Weekly Pivot Points: WR3 - $17,051 WR2 - $16,841 WR1 - $16,758 Weekly Pivot - $16,662 WS1 - $16,548 WS2 - $16,422 WS3 - $16,213 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. Moreover, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term. Relevance up to 09:00 2023-01-05 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/307294
Bitcoin Has Made A Dynamic And Aggressive Reversal

Reversal Of Fed Policy May Prove Crucial For Bitcoin's Moves

InstaForex Analysis InstaForex Analysis 04.01.2023 10:15
Bitcoin remains unwaveringly committed to an indifferent flat movement in the first days of January 2023. The cryptocurrency managed to achieve local success and form a green candle, thanks to which the asset reached the level of $16.8k. However, if we trace the weekly path of Bitcoin to current positions, we can note low trading volumes, as well as low investment activity of long-term investors. Certain categories of hodlers continue to sell off their BTC holdings. According to data from Glassnode, the number of addresses with a balance of more than 1,000 BTC has dropped to 2,000. The figure has reached a three-year low, indicating a lack of consensus among long-term investors regarding Bitcoin. In part, this fact indicates that the period of large-scale consolidation and redistribution of BTC volumes continues. However, throughout 2022, the market became convinced that the best catalyst for the movement of BTC coins is a crisis situation and a sharp drop in price. Is Bitcoin heading toward $10k? According to experts of the largest investment company VanEck, the cryptocurrency market is heading for this scenario. Analysts are confident that the first quarter of 2023 will be characterized by an aggravation of crisis processes and high volatility. It is expected that Bitcoin will continue its downward movement and update the local bottom near the $10k–$12k levels. According to VanEck experts, this will be affected by the current state of the mining industry. The rise in the price of energy resources and the cost of mining BTC provoke huge losses among the miners. Recall that, on average, for each BTC mined, mining companies incur a loss of about $3,000. It also recently became known that the total credit debt of public mining companies is more than $4 billion. VanEck experts consider these factors to be key in the future fall in the price of the cryptocurrency. Recall that the warning about "several difficult months" was contained in a letter to the employees of the largest crypto exchange Binance. Also, the average percentage of BTC price drop from the high is 85%. As part of the current bear market, the asset lost about 77%. Presumably, when the price of Bitcoin reaches the $10k–$12k area, the percentage of the fall from the high will be approximately 82%–85%. Given these data, forecasts from VanEck experts have every chance of becoming a reality. SPX and Bitcoin A regular guest of analysis of the situation around Bitcoin, the S&P 500 index is more relevant today than ever. If you look at the SPX annual price chart, you can see that despite the massive drop after 2021, the asset is still overheated. Given the approaching recession and the focus of investors on capital preservation, the fall of SPX may continue. Bank of America and BNP Paribas forecast that the S&P 500 will end 2023 at $3,400. As of January 4, the stock index quotes are close to $3,800. A fall to the $3,400 level will mean that the asset's capitalization will lose another 8%–10%. Given that SPX is the flagship of the stock market, a corresponding movement should be expected on other instruments. BTC/USD Analysis In the medium term, there is every reason to believe that Bitcoin will update the local bottom, which will cause the next stage of capitulation and redistribution of capital. At a distance of a year, the asset may resume its upward movement and reach the level of $30k, according to VanEck experts. A key factor in the recovery movement of the Bitcoin price may be a reversal of the Fed's policy. More than 2/3 of economists from the 23 largest financial institutions expect the Fed to ease monetary policy in the second half of 2023, according to a WSJ survey. U.S. Federal Reserve Chairman Jerome Powell said there are plans to increase the key rate to the 5%–5.5% level. At current rates, the indicator will reach the indicated milestone by March–April 2023, just in time for the end of the first quarter of 2023. Results The crypto market has survived most of the bear market, however, many factors point to the need for a final dive. Given this, we should not expect significant recovery movements in the BTC price in the first half of 2023. The main stage of the price recovery and consolidation movement in preparation for the 2024 bull market will begin in the second half of 2023. Until then, the investment environment in the crypto market will be toxic and unattractive due to the recession and future bankruptcies of crypto companies.   Relevance up to 09:00 2023-01-05 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/331423
Serum Was Once The Largest Decentralized Exchange On Solana But Now Serum Drop Due To FTX Collapse

Serum Was Once The Largest Decentralized Exchange On Solana But Now Serum Drop Due To FTX Collapse

ByBit Analysis ByBit Analysis 04.01.2023 13:17
Daily Top Mover — Serum (SRM) Major U.S. equity indices started the first 2023 trading session on a sour note. Tesla’s stocks plunged by 12.24% in the wake of poor December delivery numbers, dragging down the Nasdaq Composite index to round off the day with a -0.76% return. Meanwhile, the broader cryptocurrency market behaved unimpressively, with Bitcoin and Ether both down 0,05%, in the past 24 hours. The top mover for today, SRM, which registered a 24-hour return of 30.9% as of the time of writing, has outperformed the market, likely due to FTX’s unfolding saga and the praise from Vitalk on Solana.  Learn more on Binance.com SRM is the native token of the decentralized exchange Serum built on Solana. Before FTX’s collapse, Serum was once the largest decentralized exchange on Solana, whereas other DeFi protocols lean on its liquidity to build innovative products. Serum was backed by Sam Bankman-Fried, and therefore leading to the plunge of SRM following FTX’s fallout. The outperformance of SRM overnight was likely due to revived hope that the FTX situation was less serious than claimed by current CEO John Ray III, where $3.5 billion worth of FTX assets may be safely kept by Bahamian authorities. However, as an investment project, Serum is not a creditor to FTX’s bankruptcy, and positive news from FTX’s unfolding saga is unlikely to improve Serum’s fundamentals.  What’s more, SRM surged, together with other tokens in Solana’s ecosystem, in the wake of praise from Vitalik on the Solana developer community in the past weekend. However, this is unlikely to continue in the long term as the Solana community is working on a Serum fork, OpenBook, to replace the original Serum project.  Check Out the Latest Prices, Charts, and Data for SRM/USDT! Talk of the Town ( Source: https://www.hd.square-enix.com/eng/news/2023/html/a_new_years_letter_from_the_president_3.html ) Amidst the current bearish conditions in the crypto scene, popular Japanese firm Square Enix remains focused on the development of multiple blockchain games. In November 2022, the company behind popular Web2 franchises such as Final Fantasy and Dragon Quest announced its first Web3 game in the form of a digital collectible art project, Symbiogenesis, where players will decide whether to share or keep unique data and attempt to uncover a story. The game is set to be launched in Spring 2023. Meanwhile, President of Square Enix, Yosuke Matsuda, revealed in this annual 2023 letter that the company is preparing to release more Web3 project titles this year. Matsuda also emphasized his confidence in Web3, stating his hopes “that blockchain games will transition to a new stage of growth in 2023”.   Read next:Exxon And Chevron Abandon The Global Market And Focus On The Americas| FXMAG.COM Check out what else is buzzing in the crypto scene today: Gemini accuses DCG’s Barry Silbert over frozen funds on Germini Earn. (Link) Italy approves 26% tax on cryptocurrency gains. (Link) The Bahamas Securities Commission claims the current FTX CEO has made “material misstatements” when alleging collusion between FTX and the Bahamian government. (Link) SBF pleads ‘Not Guilty’ to all Charges as Judge grants redaction of bail signers’ identities. (Link) December was 2022’s lowest month in terms of hacking proceeds. (Link) Source: Bybit Blog | FTX’s Unfolding Saga Buoys SRM Token; Square Enix Continues Focus on Web3  
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

Centralized Exchanges (CEXs) Remain A Promising Avenue For Users To On-Ramp Cryptocurrency As Opposed To Decentralized Exchanges (DEX)

ByBit Analysis ByBit Analysis 04.01.2023 13:24
Security, product innovation, and liquidity are deemed successful for crypto exchanges’ growth and sustainability. Despite the calamitous crypto events, Bybit emerged stronger in these key dimensions. As you read on, we explain how Bybit came to the fore as the fastest-growing centralized crypto exchange globally. Research suggests that Bybit is among the 11 analyzed crypto exchanges to show a steady market share growth, increasing from 1.1% to 3.9%. Bybit also reported a stellar growth of 248% in month-on-month trading volume in September 2022 by implementing a zero-fee trading program. Learn more on Binance.com Users are indeed more risk-averse concerning the collapse of Terra and the bankruptcy of the FTX exchange. Still, centralized exchanges (CEXs) remain a promising avenue for users to on-ramp cryptocurrency as opposed to decentralized exchanges (DEX), especially when decentralized finance (DeFi) is still thought to be at its infant stage.  What would be Bybit's trajectory to secure the ascendancy? And does the statistical vantage point agree? Here's what was revealed with facts.  1. Bybit will continue to grow at an exponential rate  A report done by CryptoCompare shows that Bybit generated a shift in business strategy that propelled further growth in trading volume and market share despite a broad market downtrend. Here is what Bybit has done that contributed to its development: a. Zero-fee trading program: Implementation of zero-fee trading all across Spot trading pairs on September 6, 2022.  b. A newly reformed branding: Bybit unveils a new brand identity with a consistent layout and better brand messaging, reassuring users about our commitment to excel. Providing only the best and most reliable services for traders alike to magnify profits with new product innovation and better opportunities.  c. Exchange security and transparency offering: Strengthening user's confidence in the exchange by releasing the PoR report and Merkle Tree on December 10, 2022.  d. Trend capturing: Bybit sees a shift in users' confidence in CEXs and the rising popularity of decentralization. The quick reaction yields the release of Bybit's Web3 wallet alongside the integration of ApeX Pro bridges the gap of trading in a CeFi and DeFi environment to actualize financial empowerment and inclusion for all.  2. Security, Transparency and Proof-of-Reserves are gaining popularity — Bybit is here to stay The collapse of Terra, BlockFi, and FTX continues to raise many eyebrows. A continuous ignition of fear, uncertainty, and doubt (FUD) forces more retail and institutional traders to put a microscope on an exchange's security measures, proof-of-reserves, infrastructure setups, and community engagement. Zooming into Bybit's effort to reassure users:  a. Proof-of-reserve (PoR): Bybit is one of the few exchanges to show clean PoR proving the funds held in the reserves match the liabilities.  Find out our PoR snapshot here.  B. Security: Hacks are getting more rampant — Bybit tightens the security standard to introduce two-factor authentication and 24-hours customer services to support users in distress. The bug bounty program was launched to encourage white hackers to identify and resolve security bugs.  C. Custodial and cold wallet solution: Bybit implements backend security measures, including cold wallet storage, offering the option for custodian fund safekeeping and geographical distribution of private user keys to mitigating a central point failure. Read next: Exxon And Chevron Abandon The Global Market And Focus On The Americas| FXMAG.COM 3. Eminent investment in the Web3 space to support its long-term vision CEO Ben Zhou says Bybit is here to stay and is constantly improving to put the firm in a solid position to meet customers' changing needs. Its evolving company climate translates to the emerging expansion in Web3 product innovation, including the launch of the latest Web3 wallet — bridging the gap between centralization and decentralization.  Believe it or not, crypto exchanges remain vital for users, and the potential is eminent. We seek to build a crypto ark that helps you move forward with better reliability, products, and opportunities. Glean insights into the complete report — 4 Key CEX Trends of 2023. Free Access to CryptoCompare Full Report Source: Bybit Blog | 2023 CEX Report Highlights Bybit's Resilience in Winter
Bitcoin Is Showing A Good Sign For The Further Rise

Bitcoin Is Showing A Good Sign For Further Rally

Peter Jacimovic Peter Jacimovic 05.01.2023 09:53
Technical analysis: BTC/USD has been trading sideways at the price of $16.825 and I see potential for the upside continuation towards upside reference. Trading recommendation: Due to the rejection of the key support zone in the background and symmetrical triangle pattern in creation, I see potential for the further growth. Watch for the buying opportunities on the intraday dips with the upside objective at the price of $16.980 Stochastic Oscillator is showing oversold condition, which is good sign for further rally Key support zone is set at the price of $16.765   Read next: How Dream Sports Built Its Value, High Inflation And Its Impact On The Hedge Fund| FXMAG.COM   Relevance up to 09:00 2023-01-06 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/307462
Technical Outlook Of The Further Movement Of Bitcoin

If The Situation On The Bitcoin Market Does Not Start To Improve, People Dealing With This Asset Will Be Forced To Join Forces With Other Companies

Sebastian Seliga Sebastian Seliga 05.01.2023 11:10
Crypto Industry News: The past year can definitely be classified as unsuccessful for bitcoin. The negative effects of the onset of the cryptocurrency winter were also strongly felt by miners extracting the first cryptocurrency. Industry analysts predict that many people from the BTC mining market will join forces to reduce the individual costs of their activities. Analysts from the Hash Rate Index - Jaran Mellerud and Colin Harper - hypothesized that if the situation on the bitcoin market does not start to improve, people dealing with this asset will be forced to join forces with other companies. On the site's blog on January 3, a post was published called "10 bitcoin mining forecasts for 2023." Its creators point out that public BTC miners have to face certain reporting requirements. This includes activities such as annual reports, the cost of which is very high. After bitcoin mining profits fell by 90% in 2022, public miners have significantly reduced their administrative costs on more than one occasion. To this end, they went private or merged with other entities to share the costs. Moreover, the post published on the Hash Rate Index also assumes that 2023 will be marked by a massive restructuring in the Bitcoin mining industry. Analysts have no doubts that strengthening miners' balance sheets will be their top priority in 2023. In addition, it was pointed out that the level of liabilities incurred by some miners would force them to restructure their debt as the only solution to their financial problems. This may mean attempts to negotiate lower interest rates or extend the period for repayment of loans taken out, as the authors assume. Technical Market Outlook: The BTC/USD pair had keeps trading above 100 MA, nevertheless the recent rally had been capped at $17,000 after the Bearish Engulfing candlestick pattern was made at H4 time frame chart. A breakout above the level of $17,057 is needed in order to extend the rally towards the key short-term technical resistance seen at $18,360, but for now the bulls are still trading below the level of $16,950. On the other hand, any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). Strong and positive momentum support the short-term bullish outlook. Weekly Pivot Points: WR3 - $17,051 WR2 - $16,841 WR1 - $16,758 Weekly Pivot - $16,662 WS1 - $16,548 WS2 - $16,422 WS3 - $16,213 Read next: Samsung Suffers From Weakening Demand, Amazon Will Increase The Total Number Of Layoffs To Over 18,000| FXMAG.COM Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. Moreover, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 10:00 2023-01-06 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/307482
Stablecoins Could Be Used As A Way Of Storing Capital

Stablecoins Could Be Used As A Way Of Storing Capital

Conotoxia Comments Conotoxia Comments 05.01.2023 14:32
Stablecoins are cryptocurrencies that attempt to mirror the price of other assets, such as the US dollar, allowing to hold funds without need to withdraw them from digital wallets. However, stablecoins seem to have become to the cryptocurrency market what money printing has become to the finance market. According to the Btctools website, the total market capitalisation of stablecoins has fallen by 14% year-on-year, the first such decline since their listing began. At the same time, the Federal Reserve (Fed) reduced the amount of M2 money in circulation by a historic 0.7% year-on-year. Does the change in stablecoin market capitalisation affect changes in the overall cryptocurrency market? What are stablecoins really? Stablecoins are a type of cryptocurrency that are designed to have a stable value similar to other real assets. They are often used as a vehicle for transactions in the cryptocurrency market, as their stable value could avoid the risks associated with large price fluctuations. They could also be used as a way of storing capital, as their value does not fluctuate significantly in the short term. By May 2022, stablecoin's capitalisation had risen steadily, reaching a record $181 billion. It was when the listing of TerraUSD, one of the largest stablecoins, collapsed. The price of the major cryptocurrencies immediately plummeted. Bitcoin lost 35% of its value within a week and the stablecoin's capitalisation fell by $23 billion (down more than 12%). Since then, the market value of all stablecoins seems to be continuously declining month-on-month (currently at 2.8% m/m). Source: Conotoxia MT5, BTCUSD, Weekly What does less digital currency mean for the market? According to the Stablecoin Printer's Twitter profile, which tracks the number of new digital currencies generated, virtually no new tokens were issued among the top 4 stablecoins in December 2022. This is the first such month in history. A shrinking base of virtual money in the system could mean the same thing as central bank money printing for the financial system. A lack of new cash to spend could lead to a shortage of something to spend on new investments. This could lead to a weakened market. The first sign of a change in trend could be a month-on-month increase in the value of the stablecoin market. However, it seems hard to count on such a move in the current market conditions. Grzegorz Dróżdż, Junior Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Bitcoin Is Showing A Good Sign That Buyers Are In Control

Bitcoin Is Showing A Good Sign That Buyers Are In Control

Peter Jacimovic Peter Jacimovic 09.01.2023 11:01
Technical analysis: BTC/USD has been trading upside and I found breakout of the multi-week defined trading range, which is good sign that buyers are in control and that there is chance for further upside movement. Trading recommendation: Due to the breakout of the trading range in the background, I see potential for further upside movement towards the next reference point. Watch for the potential buying opportunities with the upside objective at $18.000 MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control. Key support is set at the price of $16.900   Relevance up to 10:00 2023-01-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/307819
The President Of El Salvador Continues To Promote Bitcoin

The Bullish Idea For Bitcoin Remains Relevant

InstaForex Analysis InstaForex Analysis 09.01.2023 11:29
Bitcoin breaks its weeks-long silence and bullishly bursts into its first working week after the holidays. The cryptocurrency reached the $17.1k level, and continues its upward movement to the $17.4k level. It is important to note that the increase in trading activity occurred on Sunday. Bitcoin managed to consolidate above $17k and continues its upward movement on Monday. The positive start of the trading week may be indirectly related to the positive statistics of the U.S. labor market. According to data released on Friday, January 6, the unemployment rate rose by 3.5% against forecasts of 3.7%. Nonfarm payrolls rose by 223,000, while the forecast was 200,000. Labor market statistics once again prove that the U.S. economy remains resilient, despite the impending recession. On the one hand, this gives investors additional confidence in stability, but on the other hand, it gives the Fed a free hand to further raise the interest rate. Minneapolis Fed President Neel Kashkari has already stated that it is necessary to pause in raising the rate only after reaching the target level of 5.4%. The strength of the U.S. labor market and other economic indicators give the Fed the opportunity to implement its strategy to the fullest. Bitcoin and SPX A similar upward movement in the S&P 500 stock index played no small role in BTC reaching $17k. As of January 9, the trading index had formed a bullish takeover pattern thanks to the activation of a large buyer. The cryptocurrency market lacks the same volume as the stock market, and therefore Bitcoin managed to reach the $17k level. At the same time, the SPX came close to the $4,000 mark. However, for the final confidence in the bullish potential of the current week, it is necessary to wait for the opening of the U.S. markets on Monday. BTC/USD Analysis Bitcoin's long-term consolidation is nearing its end, and the asset has taken the first step towards a bullish strategy. The fluctuation range of $16.4k–$16.9k is gradually receding into the past, and the $17.4k–$17.8k level is already looming on the horizon. However, a similar situation already took place in mid-December, when Bitcoin made a false breakout the $18k level. Then the cryptocurrency grew on low volumes and barely absorbed the bears' volumes. The volumes at which BTC broke through the $17k level can also be characterized as low. The next two days will be key in understanding the future prospects for Bitcoin price movement. If the asset continues its upward movement with the growth of on-chain activity and trading volumes, then there is a possibility of a final consolidation above $17k. However, if a major buyer does not appear and the SPX starts to correct, then the probability of a false breakout will increase significantly, and the price will return below $16.9k. As of writing, the bullish idea for Bitcoin remains relevant. If the asset gains a foothold above $17k, then after local consolidation, the nearest targets for BTC will be $17.4k and $17.8k. Results The cryptocurrency market cheerfully started the new trading week, slight increases in trading volumes are visible. This is not enough to implement bullish impulses, so everything will depend on activation of large buyers and dynamics of S&P 500 price movement.   Relevance up to 09:00 2023-01-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/331734
Pound Sterling: Short-Term Repricing Complete, But Further Uncertainty Looms

European Inflation Fell, US Jobs Data Pleased Investors

Swissquote Bank Swissquote Bank 09.01.2023 11:38
Friday’s jobs data in the US, and more specifically, the market reaction to Friday’s jobs data helped stock markets to record their best boost since more than a month on Friday. Friday’s jobs report However, Friday’s jobs report was rather… mixed, and spurred a lot of discussions and debates regarding whether the data was soft enough to convince the Federal Reserve (Fed) officials that the inflation battle is over, or it was strong enough to make them further scratch their heads. US markets US markets, however, gave a strong positive reaction to Friday’s jobs data. Both the US 2 and 10-year yields fell more than 4% after the data, pulling the US dollar index lower along with them. The S&P500 jumped around 2.30%, while Nasdaq 100 rallied near 2.80%. Gold Gold reached our $1880 per ounce medium term target, boosted by lower US yields, which made the opportunity cost of holding the non-interest-bearing gold lower, and increased appetite. Fed, US CPI data and Jerome Powell speach Activity on Fed funds futures now price in a 25bp hike at the next FOMC meeting at around 75%, but the Fed has not hesitated to disappoint markets since last year to cool down the optimism and send the stocks to turmoil. So the dovish pricing in Fed expectations make the latest gains a bit bitter-sweet, as the slightest news, or hints that the Fed would not step back from its hawkish tone could vanish the latest rally. So, this week’s US inflation data will be key in either giving the bulls a further boost or bringing back the bears with revenge. Jerome Powell will speak on Tuesday, and the US CPI data will be released on Thursday. On the corporate calendar, the earnings season will kick off with big bank earnings due Friday. Watch the full episode to find out more! 0:00 Intro 0:32 Strong NFP, soft wages… US jobs data pleased investors 03:36 But did it please the Fed? 4:59 Thu’s US inflation data is crucial for market mood 6:02 European inflation fell, but… 7:21 Crude oil flirts with $75pb 8:18 Bitcoin, Ethereum advance 8:36 Earnings season kicks off ! Ipek Ozkardeskaya  Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #jobs #NFP #wages #unemployment #inflation #data #dovish #Fed #expectations #USD #EUR #XAU #Bitcoin #Ethereum #earnings #season #banks #JPMorgan #WellsFargo #Citigroup #Blackrock #Tilray #BBBY #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

Bitcoin Prices Has A Potential For Further Upside Movement

Peter Jacimovic Peter Jacimovic 10.01.2023 09:37
Technical analysis: BTC/USD has been trading upside as I expected and the price did price broke out of the well defined trading range, which is good sign for the further upside movement. Trading recommendation: Due to the breakout of the defined trading range and natural pullbacks, I see potential for further upside movement towards main objective. Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $18.000. MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control. Key support is set at the price of $16.900   Relevance up to 09:00 2023-01-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/307949
In The Coming Days Will Be The Final Consolidation Of Bitcoin

In The Coming Days Will Be The Final Consolidation Of Bitcoin

InstaForex Analysis InstaForex Analysis 10.01.2023 14:02
Bitcoin retains the upward momentum it received at the beginning of the new week. The asset managed to break through several key resistance levels, which allowed it to build up bullish potential and continue to move to local highs. Among the probable reasons for the upward movement of Bitcoin is an improvement in the macroeconomic situation and the activation of various categories of investors. This process is associated with the situation in China, where all covid restrictions have been finally lifted. The end of another round of the fight against coronavirus in China provoked an explosive reaction in Asian markets. Analysts predict that in the coming weeks we should expect the growth of the main Asian indices by 10%–15%, as well as the strengthening of the yuan. The activation of the Asian markets also caused a price increase in the energy market, namely oil. Brent and West Texas rose 1.2% as a direct result of more active Asian investors. How positive this process will be for the cryptocurrency market is not yet clear, but the global economy has definitely received investment injections. Another probable reason for the growth of Bitcoin quotes is the cyclical nature of the cryptocurrency halving procedure. According to the latest charts, the asset is approaching the final stage of price decline and begins a recovery movement towards local highs. Bitcoin and S&P 500 A powerful buying bar following the results of last Friday is also called the reason for the growth of Bitcoin quotes, which strengthened the correlation with the stock index. However, as of January 10, the SPX quotes sharply retreated and rolled back to the $3,900 level. The technical metrics of the financial instrument indicate further downward movement. Stochastic has formed a bearish crossover, and therefore there is a high probability that the current trading day will end below yesterday's high. It is likely that the fall in SPX is also associated with the activation of Asian markets, and therefore, we should expect American investors to try to buy off the fall after 13:00 UTC. In any case, the sell-off of American indices by Asian investors may have a negative impact on the price movement of Bitcoin. BTC/USD Analysis Bitcoin continues its upward movement, and as of January 10, the asset reached the $17.2k level. Following the results of the last trading day, the asset retested the level of $17.3k, but the price was pushed back to the local support zone $17.2k. Bitcoin holds positions near this mark, but there is a possibility of correction. The entire section of the path from $16.4k to $17.3k went almost without corrections, closing at least above the previous day's high. This indicates local overheating and a possible correction of the cryptocurrency in the next few days. The $17.3k level is the key resistance level on the way to $17.4k–$17.8k. This is the opening level on December 16, when Bitcoin formed one of the largest red candles over the past three months. Therefore, with the current volumes, buyers will not be able to gain a foothold above this level. The price movement on the 4-hour chart confirms the strength of the sellers near the $17.3k level. At the same time, the stochastic is forming another bullish crossover after a local recovery pause. This indicates another retest of the $17.3k level, which will most likely end with a local correction. Results The key task for BTC in the coming days will be the final consolidation and retention of the $17k level. The cryptocurrency market is approaching a series of important announcements from the Fed. Today, Federal Reserve Chairman Jerome Powell will give a speech regarding the regulator's policy in 2023. Given this level, volatility will increase, and the stock and crypto markets will react to Powell's theses. An increase in volatility and sharp price movements is expected, therefore, the key task for BTC will be to hold the $17k level in order to continue rising.   Relevance up to 09:00 2023-01-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/331839
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Many Cryptocurrencies Use US Employment Data, Australia Ranks Fourth Crypto ATM Hub

Crypto.com Accelerate the... Crypto.com Accelerate the... 10.01.2023 15:11
Latest U.S. jobs data released; crypto performed well last week. Ethereum’s Shanghai upgrade public testnet planned for Feb. Hong Kong gearing up to provide retail virtual asset trading services Weekly Market Index Last week’s crypto market prices rose slightly by +3.98%. Volume was flat at -0.53% and volatility increased by +36.36%. Weekly Performance Bitcoin (BTC) and Ethereum (ETH) were up +3.4% and +8.1% in the past seven days, respectively. Many cryptocurrencies have been gaining over the last several days after the latest U.S. jobs data released last Friday sparked a Wall Street rally. News Highlights Many cryptocurrencies have been gaining over the past several days after the latest U.S. jobs data release sparked a Wall Street rally. Non-farm payrolls rose by 223,000 jobs in December, which was higher than expectations, but wages grew less than expected. Financial services providers in Hong Kong are already taking the first steps to provide virtual asset trading services to retail investors. Brokers and fund managers have reportedly asked for advice on licensing requirements ahead of the new virtual asset trading legislation. Ethereum developers aim to release a public test network for the Shanghai upgrade by the end of February. Australia overtakes El Salvador to become the fourth largest crypto ATM hub. Australia records 216 ATMs stepping into the year 2023.     2022 Year Review & 2023 Year Ahead: 2022 has been a ride for the crypto industry. In this report, we curate the top ten crypto events and trends of 2022, followed by our outlook for 2023. Decentralised Social Networks: An Overview: Decentralised social networks aim to enable participants to take back ownership of and better monetise their content and data. We explore the project landscape. Social Graph and Digital Identity in Web3: Relationships and identities are key elements that make up social networks. In this report, we put a spotlight on the roles that decentralised social graphs and digital identity play in Web3 social.         2022 Year Review & 2023 Year Ahead: 2022 has been a ride for the crypto industry. In this report, we curate the top ten crypto events and trends of 2022, followed by our outlook for 2023.   Decentralised Social Networks: An Overview: Decentralised social networks aim to enable participants to take back ownership of and better monetise their content and data. We explore the project landscape.   Social Graph and Digital Identity in Web3: Relationships and identities are key elements that make up social networks. In this report, we put a spotlight on the roles that decentralised social graphs and digital identity play in Web3 social. Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties.
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

The Movement Of Bitcoin Suggest Further Growth

Peter Jacimovic Peter Jacimovic 11.01.2023 10:07
Technical analysis: BTC/USD has been trading upside this morning and I found breakout of the defined trading range, which is good sign for the further upside movement. Trading recommendation: Due to the breakout of the trading range in the background, I see potential for the further growth towards upside references. Watch for the potential buying opportunities on the dips with the upside objective at $18.350. MACD oscillator is showing fresh upside momentum, which is sign that buyers are in control. Key support zone is set at the price of $17.300 Read next: According To Analysts, Russia May Collapse Within A Decade, Guaranty Trust Bank Has Fined| FXMAG.COM Relevance up to 09:00 2023-01-12 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/308164
The G20 And IMF Are Already Preparing Their Crypto Regulation

Trading Volumes In The Cryptocurrency Market Have Soared By 90%

InstaForex Analysis InstaForex Analysis 11.01.2023 14:29
The starting point of the thaw in the market can be considered the first of January, when Bitcoin began an upward movement. In 11 days, the cryptocurrency reached the $17.4k level and confidently consolidated above the $17k psychological level. Among the nearest targets of the asset are the levels of $17.8k and $18k. Despite the positive developments, the daily chart of the cryptocurrency shows an uncertain price growth at low volumes. A similar situation was observed in mid-December, when the cryptocurrency made a false breakout of the $18k level and began to decline. However, judging by the latest news, the current local upward trend differs from the price movement at the end of 2022. Trading volumes in the cryptocurrency market have soared by 90% over the past day. The indicator reached the usual levels in the region of $30–35 billion. Recall that during the period of protracted consolidation, the volumes did not exceed $10 billion. Another positive signal was another purchase of cryptocurrencies from large international companies. Google purchased large volumes of Solana at $10 and was one of the top 13 owners of the asset. In addition, Morgan Stanley began actively buying shares of Grayscale Bitcoin Trust. As of January 11, the firm had invested more than $3.5 million in crypto assets. Gradually we move on to neutral news, namely the long-awaited speech of Federal Reserve Chairman Jerome Powell. According to the state of the market, we can conclude that the official was cautious in his remarks and did not provoke volatility spikes. Powell's key thesis was the acknowledgement that the global economy has become much more resilient. Read next: Pietro Beccari Will Be The Louis Vuitton’s CEO, Departures Several Top Executives At Rivian| FXMAG.COM This statement can be seen as a homage to the labor market and an effective inflation policy. The next key event for Bitcoin and the cryptocurrency market will be the publication of inflation reports. Data are expected on Thursday, and analysts predict a slowdown in inflation to 6.5% from the current positions at 7.1%. Given the established dynamics of slowing inflation, we can assume that the publication of financial statements is already included in the price of financial instruments. At the same time, the forecasts have become much bolder, which increases the likelihood of their fallacy. Also, we must not forget that Bitcoin is locally overheated, therefore Thursday can be the starting point of a local correction of the asset. BTC/USD Analysis The cryptocurrency has been in continuous upward movement since January 1, 2023. The asset successfully overcame the downward trend line and the 0.236 Fibo level. The next targets for the coin will be $17.8k–$18k. Bitcoin technical indicators are approaching the overbought zone, especially the stochastic, which broke through the 60 level. The RSI is also close to entering the overbought zone. At the same time, there is no increase in buying volumes on the daily chart, which may indicate the completion of the bullish impulse. A similar uncertain move can be seen on the daily chart of the S&P 500. One day, the asset forms the largest candle since the end of November, but subsequently loses to buyers near $4,000. Given this, it can be concluded that the SPX price movement is an impulse surge of trading activity or manipulation by a market maker. Read next: The EUR/USD Pair Maintains A Steady Upward Trend, The Aussie Pair Keeps Close To 0.69| FXMAG.COM Results Bitcoin is gradually passing the peak point of the upward movement as buying volumes are falling. Support from the SPX index looks unconvincing, as does the on-chain activity of the cryptocurrency. Given these facts, the asset needs a new impetus for growth, or a local correction. The publication of inflation reports can be a key moment in determining the further dynamics of the price movement of Bitcoin. With a favorable outcome and an increase in buying volumes, the asset will go to the $17.8k–$18k area..     Relevance up to 11:00 2023-01-12 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/331984
The Bitcoin Fall Will Likely Continue In The Future

The Bitcoin Fall Will Likely Continue In The Future

Paolo Greco Paolo Greco 12.01.2023 08:36
Bitcoin's price remains completely flat below the level of $18,500. Remember that this is the precise scenario that we have discussed numerous times, therefore everything is now proceeding as expected. Bitcoin may remain flat for a few more weeks or months at this point, but eventually, we anticipate that it will drop at least to the level of $12,426. Bitcoin is increasing because the value of the dollar is declining In theory, it is quite challenging to add anything new from the previous week. There was hardly any cryptocurrency-related news, and the exchange rate for bitcoin was not particularly affected by regular macroeconomic reports. Furthermore, even in the foreign currency market, movements that are far from logical are currently being seen, so it is also hard to declare, for instance, that bitcoin is increasing because the value of the dollar is declining. Most likely, we observe a straightforward rising motion inside the flat. Keep in mind that a flat is more than simply a sideways movement. Inside the flat, there could be both growth turns and fall turns. The fact that they alternate and are about the same size says it all. Change to the lower TF and conduct your analysis there if you are having trouble determining the nature of the bitcoin movement on the 24-hour TF. To us, it's as clear as day. Bitcoin is currently trading at $18,500, which is ridiculous from a religious standpoint. Most likely, it will then rebound once more, after which a slow decline of the instrument will start with a target of $15,500, which is currently the lower limit of the side channel. American figures Only American figures stand out among the recent events; they show that in December there were 223 thousand non-farmers and that the unemployment rate dropped to 3.5%. Yesterday, Jerome Powell spoke in Stockholm as well, but he avoided discussing economics or monetary policy. In light of this, neither the US dollar's decline nor the macroeconomic or fundamental background is the main reason why bitcoin is gradually increasing right now. Given that the Fed expects to keep raising the rate to at least 5.5%, its prospects are still very unclear. The US money supply is also continuing to contract as the regulator implements the QT program, which calls for the removal of 3–4 trillion dollars from circulation. Investments will inevitably decline, even though they are currently at a low level. The American stock market is still declining, and in the past five to six months alone, shares of Tesla have decreased by a factor of 2.5. But compared to cryptocurrency, stocks are a lot less risky investment. Bitcoin The "bitcoin" quotes during the past 24 hours have remained below the level of $18,500. We predict that the fall will likely continue in the future, with a target price of $12,426. This might not occur quickly enough, though, as each new collapse was followed by a flat phase, which we are currently experiencing. This does not, however, indicate that the "bearish" tendency has ended.     Read next: Discussion Of Bank Representatives On Financing The Ecological Transformation | FXMAG.COM   Relevance up to 14:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/332010
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

According To Bill Miller Failures Of FTX And Celsius Should Not Discourage Investors

Paolo Greco Paolo Greco 12.01.2023 08:43
On the 4-hour TF, it is evident that bitcoin is still moving primarily laterally, although there has been a slight upward slope recently. Remember how bitcoin was traded using the "collapse-flat-collapse" strategy in 2022? Consequently, despite crossing over the upward trend line, a protracted flat can now be seen. The start of a new slide within the flat may be signaled by a comeback from the $17,582 level. The whole crypto industry are still being shared in the meantime The thoughts of numerous billionaires, investors, and specialists on bitcoin and the whole crypto industry are still being shared in the meantime. Bill Miller, a billionaire, responded to a message today with a very intriguing statement, claiming that bitcoin is different from other crypto firms like the insolvent Celsius or FTX. To put it mildly, his words sound weird. The same impact would be achieved by saying, "Bitcoin is not a tomato." Everyone understands the difference between a decentralized cryptocurrency and a cryptocurrency exchange. Since bitcoin can only be purchased through exchanges, it is also evident to everyone that these two ideas are intertwined. Bill Miller said that prospective investors shouldn't be put off by the failures of FTX and Celsius. However, we think that investors who have lost money have the right to turn down new investments made through other exchanges. Given that other exchanges might suffer the same fate as FTX, we think that many potential investors have the right to decline to purchase bitcoin. There is no assurance that your funds won't be diverted for other endeavors, as the FTX example demonstrated, and one day they may choose to conceal the fact that there is no money by referring to a "lack of liquidity" instead of telling you. Bill Miller holds bitcoin personally Bill Miller added that because bitcoin is traded continuously and the Fed poured hundreds of billions of dollars into other markets to keep them from collapsing, the cryptocurrency market is considerably more stable than other markets. Mr. Miller overlooked the fact that the price of bitcoin has dropped by 75% just in the past year. Almost every billionaire's statement, in general, begs a lot of questions and "smells" like at least one more failed pump. Keep in mind that many "experts" who promote cryptocurrencies do so because it is advantageous for them to do so. This increases demand, which drives up the price. Most likely, Mr. Miller holds bitcoin personally. Bitcoin on the 4H  The "bitcoin" quotes on the 4-hour time frame are still fluctuating between $15,500 and $17,582. Therefore, a new wave of bearish movement could occur following the price's recovery from the level of $17,582. Even if the necessary level is attained, the level of $18,500 is close by and will be quite challenging to reach. The price of bitcoin may rise by several thousand dollars, but in the medium term, we anticipate a decline.   Relevance up to 14:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/332014
Technical Outlook Of The Further Movement Of Bitcoin

Upside Momentum Of Bitcoin Is Still Strong

Peter Jacimovic Peter Jacimovic 12.01.2023 10:15
Technical analysis: BTC/USD has been trading upside as I expected and the price has reached the first upside objective at the price of $18.000. Upside momentum is still strong. Trading recommendation: Due to the strong upside pressure in the background , watch for potential continuation towards upper levels. Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $20.000 MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control. Key support is set at the price of $17.000 Read next: Discussion Of Bank Representatives On Financing The Ecological Transformation | FXMAG.COM Relevance up to 09:00 2023-01-13 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/308357
From UFOs to Financial Fires: A Week of Bizarre Events Shakes the World

The Fed Doesn’t Want To Be Responsible For A Needlessly Sharp Downturn

Craig Erlam Craig Erlam 12.01.2023 11:53
European equity markets opened cautiously higher on Thursday, following a mixed session in Asia amid nerves around the US inflation release later in the day. This inflation print has been the main topic of conversation all week. The jobs report last Friday changed the dynamic in the markets and ensured that not only was this CPI report going to be important but in all likelihood pivotal ahead of next month’s Fed meeting. We’ve gone from inflation declining but the labour market being stubbornly tight to both appearing to sing from the same hymn sheet. Cracks are appearing in the economy following a very aggressive tightening cycle that’s leading to cooling demand, prices, and wage demands. Unemployment remains low as employers have been reluctant to lay people off but there’s every chance that will follow. The Fed doesn’t want to be responsible for a needlessly sharp downturn and the lag effect of monetary policy means that is a risk when the central bank is raising rates as aggressively as they have been. Another good inflation report today, particularly on the core side, will give policymakers more than enough reason to slow the pace of tightening further and even lower the terminal rate projections in March if it continues. Read next: The New Disney Drama: Disney Is Opposing Activist-Investor Nelson Peltz| FXMAG.COM Bitcoin buoyed by risk recovery Bitcoin is capitalising on the improvement in risk appetite that we’re seeing in the broader markets, rallying more than 4% today before paring gains just shy of the December peak. After weeks of treading water between $16,000 and $17,000, cryptos have been given new life by the jobs report and the risk rally that has ensued. Another positive inflation reading today could see it trading at levels not seen since the early days of the FTX collapse. ​ For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
The Commodities Digest: US Crude Oil Inventories Decline Amidst Growing Supply Risks

All Eyes On US Inflation Data!, Bitcoin Rebounds

Swissquote Bank Swissquote Bank 12.01.2023 14:29
Today is the most important day of the trading week, in terms of economic data release, as the US will reveal its latest CPI update, and it could be a make-or-break moment for the market sentiment. Consumer price inflation  Consumer price inflation in the US probably eased to 6.5%, from 7.1% printed a month earlier. Core inflation fell to 6% at last release, from a peak of 6.6% printed for October, and is expected to fall further to 5.7% y-o-y.US equities extended gains yesterday, on hope that softening inflation will further boost the Fed doves. Today’s US inflation data will help move things, to one side or the other. But keep in mind that there is room for decent hawkish pricing given that the money markets still price that the US interest rates will top around 4.9%, while the Fed officials are struggling to convince investors that they will go above 5%. Watch the full episode to find out more! 0:00 Intro 0:26 All eyes on US inflation data! 3:27 Why inflation may not ease smoothly this year? 5:51 Some bank analysts see EURUSD at 1.15 7:01 Short sterling? 7:51 Bitcoin rebounds as FTX finds $5bn to repay customers 8:36 Why bonds are better alternative for dovish Fed bets? Read next: The USD/JPY Pair Drop To 130, The Aussie Pair Keeps Trading Above 0.69$| FXMAG.COM Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #CPI #inflation #Fed #China #expectations #USD #EUR #GBP #JPY #crude #oil #copper #Bitcoin #FTX #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH      
The Bitcoin Price Movement Is In The Bullish Channel

The Bitcoin Price Movement Is In The Bullish Channel

InstaForex Analysis InstaForex Analysis 13.01.2023 08:13
Even though Bitcoin on the 4-hour chart is still in a significant Bullish condition which is confirmed by the Alligator which is moving upwards and the Awesome Oscillator which is above the positive area and the bar is green and the price movement is in the Bullish channel which is swooping up but with the emergence Wiseman. 1 (Bearish Divergent Bar) gives an important hint that a downward correction will occur with the projected target at the level of 17813.99 but as long as the downward correction does not exceed the level of 17522.73 then Bitcoin still has the potential to appreciate upwards again.   Relevance up to 03:00 2023-01-14 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/117525
The Strong Upside Momentum Will Be Still Present In Bitcoin Market

The Strong Upside Momentum Will Be Still Present In Bitcoin Market

Paolo Greco Paolo Greco 13.01.2023 10:20
Technical analysis: BTC/USD has been trading upside as I expected and the price has reached the first upside objective at the price of $18.000. Anyway, I see potential for further upside movement due to the strong upside momentum. Trading recommendation: Due to the strong upside pressure and the breakout of the resistance zone at $18.000, I see potential for the further upside movement towards next upside reference. Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $21.000 MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control. Key support is set at the price of $18.300 Read next: The USD/JPY Pair Drop To 130, The Aussie Pair Keeps Trading Above 0.69$| FXMAG.COM Relevance up to 09:00 2023-01-14 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/308560
Kiwi Faces Depreciation Pressure: RBNZ Expected to Hold Rates Amidst Downward Momentum

The UK Economy Is Still Under Immense Strain, The Bank Of Korea May Be The First To End Raising Rates

Craig Erlam Craig Erlam 13.01.2023 14:48
It’s been another lively week in financial markets and one in which investors have become increasingly hopeful that 2023 won’t be as bad as feared. In a way, the week started with the jobs report the Friday before as it was this that enabled the enthusiasm to build. The labour market has been a major barrier to optimism as the Fed was never going to pivot quickly unless there were signs in the labour market that slack was building and wages cooling. We’re now starting to see that. That optimism has been compounded by the first monthly inflation decline in two and a half years and further sharp annual declines in both the headline and core readings. While the final hurdle to 2% may be the most challenging, there’s no doubt we’re heading in the right direction and the threat of entrenched inflation has greatly receded. Now it’s over to corporate America to potentially spoil the party as the enthusiasm on inflation is not yet matched to the economic outlook. We haven’t seen mass layoffs yet but a number of firms, starting in the tech space but spreading further, have warned of large redundancies in the coming months. The fourth quarter earnings season may bring investors back down to earth with a bang. The start of the year has been fantastic but the rest of it will still be very challenging. More bleak Chinese trade data That’s very evident in the Chinese trade data, as it has in the data of other major trading nations in recent months. Imports and exports both slumped again, albeit to a slightly lesser degree than expected. The drop in imports reflects the Covid adjustment which is likely weighing on demand and the local economy. Exports is a global issue, with those to the US and EU sliding the most, reflecting the challenging economic environment. That may not improve in the near term but there will be a hope that it could in the second half of the year. Can UK avoid recession? The optimists may put to some of the recent data as an indication of some resilience in the economy but I’m not convinced. Take the UK, for example. It may not be in a technical recession after all, with spending around the World Cup enabling a better performance in November, delivering growth of 0.1% after a 0.5% gain in October. Aside from the fact that December could be worse as a result, or some of those gains could be revised out, those numbers don’t change the reality of the cost-of-living crisis and if accurate, it more likely reflects shifted spending patterns as opposed to a more willing consumer. A recession may be delayed but the economy is still under immense strain. The end of the tightening cycle The Bank of Korea may be among the first central banks to bring its tightening cycle to an end, after raising the Base Rate by 25 basis points before removing reference to the need to hike further. This was replaced with a commitment to judge whether rates will need to raise rates depending on multiple factors including incoming data. I think most others won’t be far behind, with in most cases the end coming at some point in the first quarter. All we have to contend with then is the economic consequences of the tightening. BoJ under pressure to abandon YCC And then there’s the anomaly out there. I’m not talking about the CBRT which I just can’t take seriously and that’s saying something at the moment. The Bank of Japan shocked the markets in December by widening its yield curve control buffer around 0% and it’s been paying the price ever since. Another unscheduled bond buying overnight occurred on the back of the 10-year JGB breaching 0.5%, as investors bail on Japanese debt on the belief that the YCC tool is being phased out and will be abandoned altogether before long. This makes the meeting next week all the more interesting. Revival underway? The risk rally over the last week has even lifted bitcoin out of its pit of despair. It goes without saying that it’s been a tough few months for cryptos but the lack of recent contagion in the space, or new revelations, and the risk rebound in broader markets has lifted it off its lows to trade at its highest level since the FTX scandal erupted. It’s trading at $19,000 and traders may harbour some hope of a move back above $20,000, a level once deemed a disturbing low but now potentially representing a sign of a revival. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Bitcoin Has A Potential For The Downside Rotation

Peter Jacimovic Peter Jacimovic 16.01.2023 09:48
Technical analysis: BTC/USD has been trading upside as I expected and the price has reached the main upside objective at $21.000 but I see potential for the downside rotation due to the overbought condition. Trading recommendation: Due to the overbought condition and momentum divergences, I see potential for the downside rotation towards lower reference. Watch for the potential intraday selling opportunities with the downside objective at the price of $19.050 MACD oscillator is showing bearish divergence in the background, which is good sign for the further downside movement. Key resistance is set at the price of $21.300   Relevance up to 09:00 2023-01-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/308715
Bitcoin Has Made A Dynamic And Aggressive Reversal

The Bitcoin Cryptocurrency Started Monday With Local Growth

InstaForex Analysis InstaForex Analysis 16.01.2023 11:06
Based on the results of the previous trading week, it is safe to say that Bitcoin has completed a period of consolidation that lasted more than a month. As a result, the cryptocurrency resumed its upward movement and reached the $21k level. At the same time, it is important to take into account the fundamental difference between the current upward trend, which is expressed in growing trading volumes. After a long pause, large buyers again enter the cryptocurrency market, which favorably affects the capitalization of Bitcoin. Cryptocurrency market comes back to life For 16 days in 2023, the main digital asset won back all the fall in November 2022. Many analysts see it as the end of a bearish trend and the final formation of a local bottom around $15.6k. Quantitative analyst PlanB expressed similar conclusions, while institutional experts expect another stage of BTC price decline. According to network activity data provided by Santiment, large investors resumed buying Bitcoin in early January. As of January 16, whales hold more than 23.5% of the total supply of cryptocurrencies, which is equivalent to 4.57 million BTC coins. CryptoQuant analysts also note a significant net inflow of Bitcoins to crypto exchanges of 4,200 BTC worth $80.3 million. The renewed flows of coins to the exchanges may indicate the normalization of market sentiment and a pullback to normal after the collapse of FTX. At the same time, there is also a negative context, because BTC transfers to exchanges may indicate growing speculative sentiment. In the medium term, this may negatively affect the market and increase manipulative price movements. However, a much more significant factor for the transfer of BTC coins to exchanges may be the desire of investors to fix local profits or break even. Near the $16k level, more than 50% of BTC coins were at a loss, and this figure decreased significantly when the price of Bitcoin reached the $21k level. Read next: The Swedish Real Estate Market Will See Significant Price Drops| FXMAG.COM BTC/USD Analysis Having consolidated above the $20k key psychological level, Bitcoin ended the trading week with a consolidation near $21k. There was no local decline in trading activity over the weekend, which allowed the asset to test the $21.2k level. Subsequently, the bears managed to defend the line and go on a local and successful counterattack. BTC ended Sunday with a slight decline, but a long lower wick indicated the activation of buyers. As a result, the bulls picked up the price near the $20.5k level and resumed their upward movement. The cryptocurrency started Monday with local growth and absorption of the remaining bearish volumes. The price has tested the $21.2k–$21.4k area for the second time, but selling pressure remains as the price is near a two-month high. The technical metrics of Bitcoin are still in the overbought zone but gradually acquiring a flat direction. Stochastic is moving near the level of 95, and the RSI index is 87. To avoid increased volatility and a protracted correction, BTC needs a local correction and consolidation near $20k. Results Bitcoin continues its upward movement, but there is every reason to believe that the current week will be the last within the local bullish trend. The first signals of the transfer of coins to the exchanges indicate a wave of fixation to breakeven/minimum profit. At a minimum, miners will want to lock in local profits to cover running costs. Most likely, Bitcoin will be able to reach the $22.4k–$22.8k area before bear pressure intensifies. With a price correction (necessary), the key task for buyers will be to hold the $20k level. Bitcoin performed well in the attack and once again prompted talk of the end of the bearish trend. However, it is important to take into account the factor of the first mass activation of buyers, which provoked a local overheating of the market. To confirm the end of the bearish trend and the start of the capitalization recovery stage, the asset needs to hold the $20k level, which is key for further growth.   Relevance up to 08:00 2023-01-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/332360
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Societe Generale Took Out A Loan In The Form Of The Stablecoin DAI, A Digital Form Of The Pound Is Being Considered

Crypto.com Accelerate the... Crypto.com Accelerate the... 16.01.2023 11:50
El Salvador passes bill to sell bonds backed by BTC. Societe Generale taps MakerDAO for US$7M DAI loan. Polygon blockchain to undergo a hard fork. Weekly Market Index Last week’s crypto market prices rose significantly by +23.12%. Volume and volatility also increased by +99.69% and +238.74%, respectively. Weekly Performance Cryptocurrencies continue to gain momentum across the board. Bitcoin (BTC) and Ethereum (ETH) were up +23.6% and +22.0% in the past seven days, respectively. News Highlights El Salvador has passed a bill that will allow the country to sell bonds backed by Bitcoin. US$500 million of proceeds from those bonds will be put toward a proposed plan to build a “Bitcoin City”.  U.K.’s Economic Secretary to the Treasury said that a digital pound currency is being considered and a public consultation on the attributes of a digital pound would be launched in the coming weeks. French investment bank Societe Generale took out a loan of US$7 million in the stablecoin DAI from MakerDAO, in what is seen as a significant direct transaction between a TradFi firm and a DeFi project. The bank used home loan bonds as collateral. Polygon (MATIC) announced a proposed hard fork to its blockchain. If approved, the upgrade is set to occur on 17 Jan. It will address gas fee spikes and chain reorganisation. Read next: Lowering The Price Of Electric Vehicles Is Supposed To Be Tesla's Unusual Strategy To Generate Demand In The US Market| FXMAG.COM Recent Research Reports     2022 Year Review & 2023 Year Ahead: 2022 has been a ride for the crypto industry. In this report, we curate the top ten crypto events and trends of 2022, followed by our outlook for 2023. Alpha Navigator (December 2022): The new year sees crypto outperforming equities and gold. BTC options implied volatilities are subdued while perpetual futures funding rates are positive. Social Graph and Digital Identity in Web3: Relationships and identities are key elements that make up social networks. In this report, we put a spotlight on the roles that decentralised social graphs and digital identity play in Web3 social.         2022 Year Review & 2023 Year Ahead: 2022 has been a ride for the crypto industry. In this report, we curate the top ten crypto events and trends of 2022, followed by our outlook for 2023.   Alpha Navigator (December 2022): The new year sees crypto outperforming equities and gold. BTC options implied volatilities are subdued while perpetual futures funding rates are positive.   Social Graph and Digital Identity in Web3: Relationships and identities are key elements that make up social networks. In this report, we put a spotlight on the roles that decentralised social graphs and digital identity play in Web3 social. Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

Price Of Bitcoin Has Already Broken Out Of The Bearish Channel

InstaForex Analysis InstaForex Analysis 16.01.2023 14:23
Blue lines- bearish channel Red lines- horizontal resistance levels Yellow lines- overbought RSI Bitcoin is trading around $20,000-$21,000 price level after the break out and above the short-term trading range it was in for the last few months. Our minimum bounce target after the break out, was the November high around $21,400 pre FTX scandal sell off. Price is now challenging this horizontal resistance level. Price has already broken out of the bearish channel it was in for the last 13 months. Similar to 2019-2020 price is challenging key horizontal resistance and the RSI has reached oversold levels near 90. A pull back and a new higher high would be a very bullish signal. Our minimum expectations are for price to retrace the entire decline. After a break above the resistance at $21,400, we should expect Bitcoin to reach $27,800 where we find the 23.6% Fibonacci retracement of the entire decline. The 38% retracement is at $35,800 and should follow if bulls break above $27,800. Read next:USD/JPY Pair Is Trading Above 128 Again, The Testimony Of Bank Of England Governor Andrew Bailey May Have Affect On The Pound (GBP/USD)| FXMAG.COM Relevance up to 13:00 2023-01-30 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/308769
Technical Outlook Of The Further Movement Of Bitcoin

Technical Analysis Of The Bitcoin Cryptocurrency Movement

Peter Jacimovic Peter Jacimovic 17.01.2023 09:11
Technical analysis: BTC/USD has been trading sideways at the price of $21.000 but I see potential for the breakout play. Trading recommendation: In case of the upside breakout and hold above the level of $21.200, I see potential for the rally towards $22.000 In case of the downside breakout of the support zone at $20.600, watch for selling opportunities with the downside objective at $19.800   Relevance up to 08:00 2023-01-18 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/308859
Gold's Hedge Appeal Shines Amid Economic Uncertainty and Fed's Soft-Landing Challenge

China Posts Encouraging Data, The DAX Extended Its Advance To The Fresh Highs

Swissquote Bank Swissquote Bank 17.01.2023 12:29
European stocks kick off the week on last week’s positive vibes, adding more gains to their best ever start to a year. Dax The DAX extended its advance above the 15000 mark, to the fresh highs since before the war in Ukraine started. French CAC40 And the French CAC40 took over the 7000 resistance and is only around 4% below the 2022 peak. European stock The recovery in European stocks is impressive, yet could it last? China On the data front, China grew 3%, well below the government’s 5.5% target last year, but the Q4 rebound was well above market expectations. Retail sales contracted significantly less than expected as well, while unemployment unexpectedly fell, giving signs that the end of Covid zero measures are feeding into the data. Forex In the FX, the US dollar was better bid yesterday, but price rallies could be good to sell, especially against oil and commodity currencies, that should extend rebound on Chinese reopening story. Watch the full episode to find out more! 0:00 Intro 0:16 Could European stocks extend rally? 2:14 Energy, commodities swing between recession fears & China reopening 4:36 Stay away from meme stocks 5:57 Bitcoin catches up with stocks, but downside risks prevail 7:07 China posts encouraging data 8:18 Selling USD against energy & commodity currencies? Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #China #growth #recession #fear #WEF #Fed #ECB #expectations #USD #EUR #JPY #CAD #AUD #crude #oil #copper #DAX #CAC #rally #earnings #season #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
Bitcoin Is In A Continuous Upward Trend For 17 Days Straight

Bitcoin Is In A Continuous Upward Trend For 17 Days Straight

InstaForex Analysis InstaForex Analysis 17.01.2023 12:50
Bitcoin paused its bullish run near the $21k level due to a significant increase in bearish volumes. Sellers have maintained strong pressure on the asset's price for the third day in a row, but so far, without success. Buyers manage to keep BTC/USD quotes above $21k. At the same time, the price of Bitcoin tested the $20.5k–$20.8k area three times over the past three days, which may indicate its likely breakdown in the near future. The confident positions of buyers may allow the cryptocurrency to continue its upward movement to the levels of $21.5k–$22k. CryptoQuant analysts believe that not all institutional investors share the general euphoria. The company's experts came to the conclusion that a significant part of large investors expect an increase in BTC trading volumes in order to return to the market. At the same time, Bitcoin continues to update the historical maximum of mining difficulty. The indicator rose by 10.3% and exceeded the mark of 270 EH/s. Keeping the price above $20k makes the economic situation easier for mining firms, but the high cost of energy resources may encourage companies to sell BTC at a bargain price. Read next:Alibaba And Its Share Buyback Program Which Is Supported By Ryan Cohen, Microsoft Corp. Plans To Incorporate AI Tools| FXMAG.COM Bitcoin and the stock market The activation of trading activity is also observed in the stock market, where the main assets show strong growth. The market's flagship index, the S&P 500 Index, maintains correlation with Bitcoin and updates local highs. Most likely, the current dynamics of the stock market price movement will continue, as Goldman Sachs reports on the active closing of short positions. After many months of falling, such movements of investors look like an adaptation to new realities. And this means that after several large liquidations, the belief in a bullish trend has strengthened. This means that we should soon expect a local correction or a change in trend towards local low. BTC/USD Analysis Bitcoin has been holding positions near the $21k level for the third day in a row. Also, the cryptocurrency is in a continuous upward trend for 17 days straight. BBG experts note that the relative strength index on the daily timeframe has reached the zone of a two-year extreme zone. This confirms our conclusion that Bitcoin is locally overbought. Despite this, buying volumes remain at a high level, and the unsuccessful attempts of the bears to push the price below $21k are clear evidence of this. At the same time, note that the price slowed down the upward movement and faced large sales volumes. First of all, this is due to the achievement of the key zone, from where the BTC price began to decline towards the local bottom due to the collapse of FTX. Also, do not forget that the index of fear and greed has just begun to grow in the direction of greed, and there is a large layer of bears on the market, ready to open short positions. The market has been acting in a certain way for almost 10 months, and one massive bull rally is not going to change things quickly. On the daily timeframe, the formation of the bullish "cup-and-handle" pattern is being completed. The price completes the "handle" element, after which it can be argued that Bitcoin is able to reach the $28k level following the results of the current bull run. At the same time, the technical metrics of the cryptocurrency remain in the overbought zone, but are increasingly turning in the flat direction. This is due to the growing pressure of sellers, as well as overbought cryptocurrency. Results Bitcoin confidently holds positions near the $21k level, which allows betting on further growth of the asset's price. Given the overheating and other third-party factors, a correction will catch up with Bitcoin near the $21.5k–$22k level. The corrective movement may start earlier, and the market should be ready for a new plunge below $20k. The current growth has provoked the appearance of a large number of orders below $20k, and therefore we should expect a further drop in price to at least $18k.   Relevance up to 09:00 2023-01-18 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/332498
Despite The Improvement In The Outlook Due To Falling Energy Prices, The Economic Environment In Britain Remains Difficult

Today's UK Data Should Ensure The Bank Of England Continues Tightening

Craig Erlam Craig Erlam 17.01.2023 16:51
Equity markets are a little softer on Tuesday as investors await more earnings from the US and closely monitor events in Davos. Stocks have had a strong start to the year on the belief that interest rates may not go as high as feared and even move into reverse later in the year. While that is looking plausible in the US, it may not be the case in Europe where policymakers are seemingly still some way from considering the tightening cycle complete. The ECB, for example, was very late to the party and could be at least three 50 basis point hikes away from the terminal rate which we could see around the middle of the year. Inflation in the euro area declined last month but core inflation is still on the rise which is why we’re continuing to see pushback to the idea of slower hikes and cuts this year. That narrative may change once the data moves in a more positive direction. Pressure mounting on BoE In the UK, the data remains quite troubling. Labour market figures released today showed earnings growth accelerating to 6.4%, meaning while we’re still seeing negative changes in real terms, as far as the central bank will be concerned they’re still far too high to be consistent with inflation returning to target. And the longer it goes on, the more stubborn inflation will become. That should ensure the BoE continues tightening by 50 basis points next month, at which point we’ll get fresh economic projections. Encouraging figures from China The data from China overnight was broadly positive even if it confirmed one of the slowest annual growth rates in decades. The economy ended on a stronger note despite the surge in Covid infections as the leadership suddenly pivoted from a zero-tolerance approach to allowing it to run free. That was expected to take a heavy toll on the economy initially but the figures for December from retail sales to industrial production and fixed asset investment suggest a much more modest hit. That may offer hope that the opening months of the new year will not be as bad as initially feared. Bouncing back Bitcoin seems to have been one of the big winners from the new year risk rally, after struggling for much support in recent months as a result of the FTX collapse. Perhaps it’s making up for lost time as traders look to capitalize on such heavily discounted levels compared with the 2021 peak. That said, it will take a lot more than a risk revival to get traders fully back on board. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds
UK Budget: Short-term positives to be met with medium-term caution

Data Shows That The Bank of England Is Needing To Keep Raising Interest Rates

Craig Erlam Craig Erlam 18.01.2023 14:47
Equity markets are marginally higher in Europe, with the Nikkei outperforming in Asia on the back of a much weaker yen. BoJ stands firm The Bank of Japan has decided to stand its ground against market forces that have forced it to purchase huge amounts of JGBs in order to defend its yield curve control upper band. Despite mounting speculation that it could be prepared to further tweak the tool or abandon it altogether, the central bank has stubbornly dug in its heals and seemingly prepared itself for another onslaught in the bond markets. The surprise decision last month to widen the threshold in which it will allow the 10-year yield to trade has further fueled speculation that it’s planning to phase out YCC, so rather than ease the pressure on the central bank as it hoped, it has intensified. In standings its ground today, it’s effectively invited the backlash and the yen has been hammered as a result. Inflation eases but still far too high UK inflation eased slightly in December, the second month in which it has fallen, indicating that it has peaked and barring another surge in energy prices, it could now steadily decline. That will come as a relief to households and businesses suffering the cost-of-living squeeze although, with the headline CPI still above 10%, there’s still obviously a long way to go. The Bank of England now finds itself in the uncomfortable position of needing to keep raising interest rates as inflation is still more than five times its target. Even core inflation is above 6% and we haven’t really seen much progress on that front. Markets are pricing in another 1% of rate hikes in the coming months but if inflation remains stubbornly high, they may have to do more. Especially if the economy shows the kind of surprising resilience that it appeared to in the fourth quarter. Read next:The Japanese Yen (JPY) Weakened, The Aussie Pair Is Trading Above 0.70$| FXMAG.COM Steadies after huge surge It’s been a phenomenal week for bitcoin, up around 20% and looking in a far healthier position. The lack of further contagion in the aftermath of the FTX collapse and the surge in risk-appetite has seen a flurry of support for cryptos which have had a rough few months to put it lightly. Well, they’ve made up for lost time and bitcoin is now steadying above $21,000. Whether it can significantly build on this rebound is another thing but the fact that it’s trading back in the pre-FTX range will come as a huge relief to the industry that will have feared further plunges or negative headlines. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

Bitcoin Has A Potential For The Upside Rotation

Peter Jacimovic Peter Jacimovic 19.01.2023 08:57
Technical analysis: BTC/USD has been trading sideways at the price $20.815 of and I see potential for the upside rotation towards upper references. Trading recommendation: Due to the strong bullish cycle in the background and upside momentum, I see potential for the upside movement. Watch for the potential buying opportunities with the upside objective at the price of $23.000 (Median Line). Stochastic oscillator is showing oversold condition and potential for the higher prices. Key support is set at the price $20.600   Relevance up to 08:00 2023-01-20 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/309265
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Bitcoin Has A Potential For The Further Rise

Peter Jacimovic Peter Jacimovic 20.01.2023 09:48
Technical analysis: BTC/USD has been trading sideways at the price of $20.960. I see potential for the further rise towards the upside resistance zone. Trading recommendation: Due to the rising trend line in the background and rejection of the support zone in the background, I see potential for the further rise. Watch for the potential buying opportunities with the upside objective at $21.570. Stochastic Oscillator is showing oversold condition and potential for the fresh bull cross. Key support is set at the price of $20.700   Relevance up to 09:00 2023-01-21 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/309435
Bank Of England Will Probably Be Unable To Avoid A Significant Easing Of Policy

P&G Sales Fell 6% In Q4, In UK Bailey Thinks That They Turned A Corner In Inflation

Swissquote Bank Swissquote Bank 20.01.2023 10:55
Netflix added nearly 7.7 million new subscribers last quarter versus only around 4.5 mio expected by the market. The share popped almost 10% higher in the afterhours trading. Netflix The results have been a relief for Netflix, but it will hardly reverse the fading optimism, as the S&P500 traded lower for the third straight day, having failed to clear a very critical resistance zone, above 4000 level, where the 200-DMA, and the ceiling of the 2022 bearish trend prevented investors from extending the rally into a new, bullish era, with no major justification on the company, or macroeconomic level. P&G hasn’t been as lucky as Netflix.  In this sense, P&G hasn’t been as lucky as Netflix. Their sales fell 6% in Q4, after they raised prices 10%. Price increases for P&G products may have hit a critical point where customers are no longer willing to pay for them.Elsewhere, US jobless claims fell below 200’000 for the first time since last September, and the US reached its debt ceiling yesterday, and began using special measures to avoid a payments default. Forex In the FX, the US dollar index remains under pressure. The dollar-yen is better bid despite the data showing that inflation in Japan hit 4% in December, as expected. The EURUSD remains bid below the 1.08 level, while Cable continues flirting with the 1.24 mark. Oil, gold and Bitcoin Oil is stuck between 50 and 100-DMA, gold ticks higher despite overbought market conditions, while Bitcoin rally slows near $21.5K. Watch the full episode to find out more! 0:00 Intro 0:54 Netflix beats 2:59 P&G deceives 3:50 Early-year optimism fades 5:18 US hits debt ceiling 6:22 Where does Bailey finds so much optimism? 7:40 ECB and SNB hint at further rate hikes 8:23 Crude oil between 50, 100-dma 8:35 Gold pushes deeper into overbought market 8:54 Bitcoin rally stalls Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Netflix #P&G #earnings #us #debt #ceiling #Japan #inflation #English #Breakfast #index #USD #EUR #GBP #JPY #crude #oil #gold #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH  
Bitcoin Has Made A Dynamic And Aggressive Reversal

Bitcoin Outperforms Even Perfectly Starting Gold

Marek Petkovich Marek Petkovich 20.01.2023 11:03
The crypto industry has two sides: scammers and suckers. When the first ones are exposed, they can organize a new project. But all this does not mean that it is impossible to earn money on cryptocurrencies. The 27% BTCUSD rally proves it can. Bitcoin posted the best weekly performance since February 2021 and simultaneously marked the longest rally since November 2013. If it closes January at current levels, it will be the second highest performance in history after a 31% rally in the first month of 2020. Daily dynamics of Bitcoin The success of bulls on BTCUSD led to an increase in the capitalization of the cryptocurrency sector from $830 billion to $1 trillion. The figure is still very far from its peak of $3.2 trillion, which took place in November 2021, but fans of the token are sure: it's a bad start! In fact, the nervousness that characterized the crypto market in 2022 did not disappear in 2023. Just as the news of the bankruptcy of FTX disturbed the minds of investors last year, now they are worried about a similar procedure from the crypto platform Genesis, a subsidiary of the Digital Currency Group. You can convince yourself for a long time that Genesis is the last domino that fell after Terra, which initiated the contagion, and that its bankruptcy is already embedded in BTCUSD quotes, but is it really possible to believe this? Old scammers will find the opportunity to create new projects. However, the Bitcoin rally convinces that people are more inclined to express "bearish" views but act bullish. On the Binance exchange, the average volume of transactions with the analyzed pair increased from $700 to $1,100, which may indicate that the whales are increasingly starting to look into the crypto market. It is not surprising because Bitcoin outperforms even perfectly starting gold, and the previous resistance in their ratio has turned into a powerful support. It seems that BTCUSD still found the bottom. Dynamics of the Bitcoin-Gold Ratio In my opinion, the main driver of the rally of the leader of the cryptocurrency sector is the changed macroeconomic background. The slowdown in the rate of the Fed's monetary policy tightening inspires hope for a soft landing of the U.S. economy. Falling gas prices allow the European economy to pleasantly surprise everyone, including the ECB. Finally, the opening of China sets fans of earning assets in a positive mood. Money is flowing into stocks and bonds, as well as emerging markets. And Bitcoin is one of the main beneficiaries of improved global risk appetite. Its leadership is due to low expectations. The crypto winter, with its capitalization shrinking by more than $2 trillion and the BTCUSD quotes falling by 70%, has turned Bitcoin into a market of pessimists. When the weather improved a little, they immediately changed their shoes. Technically, the exit of the analyzed asset from the consolidation range of 15,500–18,000 is a good sign for the bulls. They are in control. Consolidation of BTCUSD above the pivot points 20,590 and 20,670 is a confirmation of this. The rally risks restarting if it breaks above 21,200.   Relevance up to 08:00 2023-01-25 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/332836
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Bitcoin Is Showing A Sign That Sellers Are Losing Power

Peter Jacimovic Peter Jacimovic 23.01.2023 09:55
Technical analysis:  BTC/USD has been downside corrective but there is the chance for the potential upside continuation. Trading recommendation: Due to the failed breakout of the support zone in the background, I see potential for the upside movement towards upside references. Watch for the potential buying opportunities with the upside objectives at $22.970 and $23.350 MACD oscillator is showing decreasing of the downside movement, which is sign that sellers are losing power. Key support is set at the price of $22.650   Relevance up to 09:00 2023-01-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/309601
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

Swissquote Bank Swissquote Bank 23.01.2023 10:29
US stocks, and Bitcoin rallied on Friday, boosted by gains in tech stocks on surprisingly strong Netflix results, Google’s job cut announcement and dovish hints from Federal Reserve (Fed) members. Earnings This week, the quiet period for Federal Reserve (Fed) officials will help us digest what has been said over the past weeks and focus on earnings!Microsoft, Johnson&Johnson, General Electric,Texas Instruments, Intel, Tesla Mastercard, Visa, Chevron and American Express are among companies that will go to the earnings confessional this week. Big Tech earnings projections are down by about 5% since October. Yet, expectations went sufficiently low that there is plenty of room for a positive surprise, as has been the case with Netflix. Forex In the FX, the US dollar kicked off the week under pressure. The EURUSD already hit the 1.09 mark early in the session. Cable advanced to 1.2450. The barrel of American crude posted its second straight week of advance, though the 100-DMA hasn’t been cleared… just yet! Watch the full episode to find out more! 0:00 Intro 0:45 US stocks reverse losses 2:29 Bitcoin extends rally 3:14 Digesting Fed expectations into the FOMC meeting 4:40 Microsoft & Tesla will report earnings this week 6:07 EURUSD hits 1.09; sterling, Loonie are also better bid against USD 8:13 Crude oil eyes $82pb resistance Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Microsoft #Tesla #earnings #Fed #expectations #USD #EUR #GBP #CAD #crude #oil #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Bitcoin May Continue Its Upward Movement This Week

InstaForex Analysis InstaForex Analysis 23.01.2023 14:25
Bitcoin ended the previous trading week with the largest bullish candle in the past two months. Over the weekend, the situation did not change dramatically, but buyers tried to build on the bullish success. However, no significant results were achieved, and the price spent the weekend in consolidation near the $23k level. There is no doubt that the current events are the result of the completion of the main stage of the consolidation cycle. Bitcoin is systematically making bullish breakouts of difficult resistance zones, leveling the bearish sentiment in the market. The bull trend is still strong Santiment experts believe that the cryptocurrency's current upward movement was made possible by a successful period of redistribution of BTC coins. Analysts also report that a large group of addresses with balances of 1,000–10,000 BTC played a significant role in the rally. Big capital accumulated more than 64,000 BTC in a month and a half of consolidation, which is equivalent to $1.46 billion. At the same time, we have repeatedly mentioned that smaller addresses also actively participated in the accumulation. As a result, we see that the period of redistribution and absorption of BTC coins by long-term investors is coming to an end. At the same time, it is important to note that the current trading activity, which remains in the region of $25 billion per day, is still not enough. According to the latest statistics, about 75% of all existing BTC remain stored on cold wallets. This reduces Bitcoin's bullish potential, but at the same time, points to the cryptocurrency's fundamental value, as more than 14 million BTCs are safe and cannot affect the market. That said, there is no doubt that more institutional investors will return to the market as the cryptocurrency price recovers. A key signal for the upcoming rally will be Grayscale's performance. Given the recent FTX-related events and the still high volatility of the crypto market, "whales" prefer to acquire BTC through investments in familiar instruments—stocks. Given these facts, we can conclude that the closer the market is to the next bullish rally, the greater the growth of Grayscale shares we will see. Another important factor that indicates the end of the bear market is the macro pattern of the BTC price recovery movement. The current price movement of Bitcoin is fully consistent with similar situations in 2012 and 2016. As of January 23, the cryptocurrency fully follows the route from the local bottom to the gradual formation of a new value record. BTC/USD Analysis Noting the fundamental factors behind the growth of the cryptocurrency, it is important to highlight the SPX index, which ended the trading week on a high note. The asset has formed a bullish engulfing pattern and may continue its upward movement this week. The correlation between SPX and BTC remains, but lately we have seen the crypto asset exhibit more independent behavior. Given this, we can assume that the relationship between Bitcoin and the stock index may decline soon. As for the technical picture, Bitcoin made an unsuccessful retest of the $23.4k level over the weekend. At the same time, the asset has finally completed the formation of the "cup and handle" pattern, which indicates the continuation of the upward movement. The ultimate potential for a cup and handle pattern is $28k. However, the next few days will show how much market sentiment will change, and if euphoria occurs, the pattern may go through local price drops. Institutions are entering the market again and dormant market makers are becoming more active, so you should be prepared for increased volatility and an increase in the number of market manipulations. Results Bitcoin is still heavily overbought, but this does not affect the bullish potential of the cryptocurrency. At the same time, the asset will most likely continue to grow by the end of the current week due to the celebration of Chinese New Year, and therefore local euphoria will reign in Asian markets. Given this, Bitcoin will have time to test the $23.5k level and may move further towards $24k. However, the reporting period will start next week, including the Fed meeting. By that time, market sentiment will finally get bogged down in greed, and we should expect a local correction to the levels of $20k–$21k.     Relevance up to 11:00 2023-01-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/332995
Bitcoin Has Made A Dynamic And Aggressive Reversal

Bitcoin Has A Potential For The Breakout Play

Peter Jacimovic Peter Jacimovic 24.01.2023 09:46
Technical analysis: BTC/USD has been trading sideways and I found the defined trading range. I see potential for the breakout play. Trading recommendation: Due to the sideways condition, I see potential for the breakout play if the price breaks key resistance zone at $23.350. Watch for the potential buying opportunities in case of the upside breakout of $23.350 with the upside objective at $24.330 MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control. Key support is set at the price of $22.350 Read next: The Japanese Yen Fell And USD/JPY Reached Level Of 130, The EUR/USD Pair Lost Its 1.09 Level And Agian Is Around 1.0880 | FXMAG.COM Relevance up to 09:00 2023-01-25 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/309777
Bitcoin Maintains A Steady Bullish Potential

Bitcoin Maintains A Steady Bullish Potential

InstaForex Analysis InstaForex Analysis 24.01.2023 11:57
Despite the obvious overbought, Bitcoin continues its upward movement. The asset broke through the $23k level, where the price is consolidating for further upward movement. At the same time, there is no significant increase in daily trading volumes, which may indicate a weakening of the bullish trend. The $23k–$23.4k resistance zone does not allow the cryptocurrency to continue a confident bullish rally, and the slowdown in the upward trend of trading volumes complicates the situation. Another reason for Bitcoin's slowdown may be important economic reports that will appear this week. Today, the publication of Microsoft's financial statements is expected, and its results will have a direct impact on stock indices, and therefore on Bitcoin. Read next: Salesforce Is Being Tested As Its Growth Slows Down| FXMAG.COM Also, on Thursday and Friday, the indicators of the durable goods market and the level of core inflation will be released. All these publications will be a prelude to the Fed meeting next week, and therefore we can expect a gradual increase in volatility in key markets, including cryptocurrency. Fundamental incentives for further growth At the current stage of the price movement, it is extremely beneficial for Bitcoin to maintain a high level of correlation with stock indices. For example, Carlson experts note that the end of January is historically one of the strongest periods in the stock market. As a result, SPX broke through the $4,000 level, and Bitcoin climbed above $23k. At the same time, CoinShares notes a significantly increased interest in financial products based on cryptocurrencies. The inflow amounted to $37 million, which is also the result of a local thaw in the global economy. JPMorgan experts, analyzing the state of the global economy, change the pessimistic forecast, adding a little hope to it. The bank's analysts believe that 7 out of 9 classes of financial assets indicate a decrease in the probability of a recession in the United States to 50%. Recall that at the end of 2022, JPMorgan believed that the probability of a recession in the United States was 85%–100%. A similar opinion was expressed by Philadelphia Fed President Patrick Harker, who said that the agency predicts U.S. GDP growth in 2023 by 1%. Thus, the financier believes the United States may avoid an economic recession. At the same time, JPMorgan analysts note that in the near future we should expect profit-taking on stock instruments. The same applies to cryptocurrencies because the growth of the asset in January allows, at least, to fix a breakeven. BTC/USD Analysis In a fundamental way, nothing has changed on the Bitcoin daily chart. The cryptocurrency is in a consolidation phase near the $22.9k–$23.1k area. The bearish positions remain strong, as evidenced by the retest of the $23k level for four days in a row without visible success. At the same time, the bears fail to develop a downward trend, as buyers instantly absorb volumes near the $22.9k level. This indicates a strong bullish trend and an early breakout and consolidation above $23k. In the medium term, Bitcoin remains extremely overbought. The technical RSI and Stochastic indicators have been moving above the 85 levels since the beginning of January, and the stubbornness of the bulls will eventually lead the market to a deeper correction. Results Bitcoin maintains a steady bullish potential, which greatly increases the full-fledged breakdown of the $23k level in the coming days. Despite the need for a correction, the asset will continue to hold the $22.9k level and move upward. At the current stage, BTC correction is not expected, as there has been a significant activation of buyers. Considering this local decline, we should expect it in the presence of a combination of factors, including mass profit taking, increased volatility and the activation of large sellers.   Relevance up to 10:00 2023-01-25 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/333101
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

Microsoft Was Recently Identified As One Of WEF's Collaborators

Jakub Novak Jakub Novak 24.01.2023 15:20
After the rapid rally that occurred between January 18 and January 20, bitcoin and ether are still in the same position. Only this will enable bitcoin to keep expanding while investors and traders wait to see what direction the Federal Reserve System will take the following week. Microsoft CEO Satya Nadella gave his thoughts on the metaverse and how this technology would affect the future. According to Nadella, the sense of presence gained through interactions with metaverse technology is "forever changing the rules of the game" in business. In addition, he expressed his support for the metaverse, pointing out how much more socially interactive it is than previous technologies. According to Nadella, the most significant aspect of this technology is the sensation of presence that develops even when you interact electronically. In Nadella's opinion, COVID-19 altered the environment for meetings, compelling more individuals to use video conferences. So it makes perfect sense that newer technologies will be used. The metaverse and other emerging technologies have the potential to significantly alter contemporary civilization. Microsoft was recently identified as one of WEF's collaborators in the creation of the Global Collaboration Village, an online version of Davos. This digital environment serves the organization's goal of enabling the participation of world leaders in ongoing discussions of politics and global issues. Microsoft is also making active investments in metaverse-related firms to collaborate with them on some of its technological solutions for enhancing virtual worlds. The business disclosed in October that it was modifying its cloud infrastructure for use in applications for the metaverse. As we can see, investing in the metaverse's future and the businesses working to achieve it is a very interesting idea. Investors pay particular attention to the support and development of these initiatives because of the involvement of numerous companies in the cryptosphere. The tokens and altcoins of these companies will undoubtedly immediately skyrocket in price and gain weight once the crypto-winter is over. Regarding the technical picture of bitcoin today, the level of $23,180 is already the closest goal for the bulls. If you fixate on it, you'll create a new bullish trend with the potential to update $23,680. The $24,420 region will be the farthest objective, where significant profit-taking and a rollback of bitcoin may take place. In the case of renewed pressure on the trading instrument, protecting the $22,520 level will be of utmost importance because a breach by sellers would be detrimental to the asset. This will put pressure on bitcoin and create a direct path to $21,840. The world's first cryptocurrency will "drop" in the neighborhood of $21,320 if this level is broken. The breakdown of the nearest resistance at $1,693 is what ether buyers are concentrating on. This is going to be sufficient to establish a foothold at the current highs and keep the bullish trend going. The market will undergo considerable adjustments as a result of this. The balance will be returned to the ether upon consolidation above $1,693, with the possibility of increasing up to a maximum of $1,758. A second target will be in the $1,819 range. The $1,504 level, which was just formed, will come into play when the pressure on the trading instrument resumes and the $1,600 support collapses. If it succeeds, the trading instrument will rise to a minimum of $1,410. It will be difficult for bitcoin owners to trade below $1,320 (just $1,320).     Relevance up to 13:00 2023-01-25 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/333125
Bitcoin Has A Sign Of The Sideways Regime

Bitcoin Can Expect A Consolidation Movement In The Coming Days

InstaForex Analysis InstaForex Analysis 25.01.2023 14:26
In three full weeks of upward movement, Bitcoin made a bullish breakout of several key resistance levels. The price confidently consolidated above $22.5k, but later the asset began to have local problems. Bitcoin approaches a correction Above the $22.5k level, the sellers' resistance began to build up, and the longs/shorts ratio is gradually approaching consensus. At the same time, news that Bitcoin has exceeded the average cost price is emerging, which has also strengthened the bears' position. To top it all off, after the all-time BTC outflow at the end of 2022, dormant wallets began moving assets to exchanges. This happened as part of the process of fixing local profits or closing positions at breakeven. All these movements are a classic market reaction to a strong bullish trend after months of consolidation and decline. Also, do not forget that BTC technical indicators have been in the overbought zone for more than a week. Having made a series of unsuccessful retests of the $23k level, the positions of the bulls began to weaken. Over the past five days, five candles with long lower and upper wicks have formed on the Bitcoin daily chart, indicating a fight for the initiative. Bitcoin and SPX The correlation between the SPX index and Bitcoin weakens from time to time, which allows the assets to implement their own price movement scenarios. This process will continue as buyers become more active. As a result of yesterday's trading day, assets again strengthened the level of correlation and ended the session in a similar situation. At the same time, SPX shows greater stability, leveling the selling pressure and holding the $4,000 level. This is where the excess volatility of Bitcoin, which showed more active and profitable growth in a shorter period of time, comes into play. As a result, the cryptocurrency was more overbought in all technical metrics, and therefore we can assume that BTC will set the dynamics of the movement, and the SPX index will follow it after a few days. BTC/USD Analysis Bitcoin network activity charts show that mid-January saw an unprecedented surge in investment activity over the past six months. As a consequence, the coin managed to form several large green candles. This process was also confirmed by the upward dynamics of the asset's trading volumes. However, as of January 25, there is no doubt that the local peak of trading activity has been passed. Network metrics start to decline but hold high positions. We see the corresponding results on the Bitcoin chart. The asset reached a local peak and finally moved to the consolidation phase. The stabilization process will occur within the $22.3k–$23.4k range. The lower boundary of the corridor was formed following the results of yesterday's trading day, when sellers tried to force out the bulls, but faced a backlash near $22.3k. Technical metrics look overbought, and therefore the consolidation phase may be delayed. The on-chain activity of the cryptocurrency has also begun to decline, and therefore BTC will expect a reaction from market makers or a strong news event. This may be the Fed meeting in early February, where there will be another slowdown in the rate hike. It is expected that the indicator will increase by only 0.25%. This will give investors more confidence in the gradual curtailment of the quantitative easing policy. Results Bitcoin has reached a local high, and we can expect a consolidation movement within the range of $22.3k–$23.4k in the coming days. Given that trading activity remains at a decent level, volatility spikes are not ruled out. Do not forget that BTC has completed the formation of the cup and handle pattern. In the medium term, this means that we can count on the upward movement of the cryptocurrency to the levels of $28k–$30k. Relevance up to 09:00 2023-01-26 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/333221
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Sebastian Seliga Sebastian Seliga 26.01.2023 10:33
Crypto Industry News: China's central bank digital currency (CBDC) - the digital Yuan or eCNY - has received upgrades to give it smart contract functionality with a series of newly revealed use cases. The smart contract feature has been launched in the Meituan app, a Chinese app offering retail and food delivery services, as reported by local cryptocurrency website 8btc. When Meituan users place an order and pay using their e-CNY wallet, a smart contract is triggered that searches for keywords and purchased items in the order. If a user buys something from the list of keywords for the day, they are entered into a draw for a share of the prize. The prize is a share of a "red envelope" known locally as a hongbao, containing 8,888 Yuan, worth just over $1,300. Hongbao are small packages traditionally used to give money around Chinese New Year as a gesture of wishing good luck. Read next: Despite The Challenges Starbucks Is Developing In Italy, Bank BNP Paribas In Frankfurt Have Been Raided| FXMAG.COM Technical Market Outlook: The BTC/USD pair keeps trading above 100 MA, nevertheless the recent rally had been capped at $23,784 after the Bearish Engulfing candlestick pattern was made at H4 time frame chart. A breakout above the level of $25,000 is needed in order to extend the rally towards the key short-term technical resistance seen at $25,442. Please notice the growing bearish Divergence on the H4 time frame chart. On the other hand, any breakout below the range low ($22,330) would extend the corrective cycle towards the level of $21,466 (November 5th high). Strong and positive momentum support the short-term bullish outlook, however, the market is trading in a extremely overbought conditions. Weekly Pivot Points: WR3 - $24,368 WR2 - $23,535 WR1 - $23,112 Weekly Pivot - $22,702 WS1 - $22,278 WS2 - $21,869 WS3 - $21,035 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-01-27 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/310156
Bitcoin Has A Sign Of The Sideways Regime

Bitcoin Has A Sign Of The Sideways Regime

Peter Jacimovic Peter Jacimovic 26.01.2023 10:48
Technical analysis: BTC/USD has been trading upside as I expected and the price has reached the upside objective at $23.400 but it also did rejection, which is sign of the sideways regime. Trading recommendation: Due to the rejection in the background from the key resistance zone, I see potential for the range development in the next period. Key resistance is set at the price of $23.200 and watch for downside rotations around resistance with the downside objective at $22.500 Key support zone is set at the price of $23.400 In case of the upside breakout of resistance zone at $23.200, watch for buying opportunities with the upside objective at $24.325 Read next: Trump Returns To Social Media, Meta Will Restore The Former President's Account| FXMAG.COM   Relevance up to 09:00 2023-01-27 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade Read more: https://www.instaforex.eu/forex_analysis/310168
Pound Slides as Market Reacts Dovishly to Wage Developments

In Europe Investors Reacted Positively To Reports

Jakub Novak Jakub Novak 26.01.2023 14:10
The sharp growth of US tech stocks boosted market sentiment amid optimistic earnings forecasts from electric car maker Tesla Inc. Futures contracts on the Nasdaq 100 index rose by about 0.5%. Tesla jumped more than 8% during premarket trading in New York after beating earnings and sales estimates. Futures on the S&P 500 index added 0.3%, and the industrial Dow Jones gained 0.2%. Europe stocks In Europe, investors reacted positively to reports from Nokia Oyj Telecommunications Group and chipmaker STMicroelectronics NV, which helped the Stoxx 600 index gain more than 0.5%. Although companies are not boasting of high figures they are not disastrous either, which keeps the demand for risky assets, including stocks. The January growth is exaggerated given the recession risks. However, next week's Federal Reserve meeting may confirm that the market and investors were right. China The buoyant market sentiment was also linked to China, where data on holiday and tourism spending showed that the country's recovery is gaining momentum. On the first trading day after the Lunar New Year, the Hang Seng Index jumped by 2.4% and closed at its highest level since March 1, 2022. US GBP Expectations of a soft landing of the US economy and that the Federal Reserve is nearing the end of its rate hike cycle are also pushing investors to buy cheaper assets. US GDP reports for Q4 this year are expected today, as well as employment data, which will help determine the Fed's future policy course. Euro The euro is down slightly, but it is getting continued support from statements by European Central Bank officials, who continue to argue in favor of further significant policy tightening in the coming months. Bond yields in the Eurozone rose by several points. Oil and Bitcoin Oil prices continued to rise amid expectations of a rebound in demand in China. Bitcoin fell by more than 2%, wiping out much of Wednesday's gains. S&P 500 index As for the S&P 500 index, the situation remains on the side of bulls. The index may continue to grow but bulls need to protect the support level of $4,010 as well as take control over $4,038. After that, we may expect a more confident spurt to $4,064. At the same time, it would be difficult to reach above $4,091. If the pair declines and we see weak activity from bulls at $4,010, they will have to protect $3,980 and $3,960. Breaking through this level, the index may be pushed to $3,923.   Relevance up to 12:00 2023-01-27 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/333364
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

Bitcoin Is Trading In A Extremely Overbought Conditions

Sebastian Seliga Sebastian Seliga 27.01.2023 08:53
Crypto Industry News: US Senator Elizabeth Warren praised the efforts of the national securities regulator and its chief Gary Gensler in overseeing the crypto industry. At the same time, she called on lawmakers to provide the body with the necessary resources and powers. Gensler, who took control of the U.S. SEC in 2021, had to "put the genie back in the bottle and bring the crypto ecosystem into compliance" after former President Donald Trump's regulators "let it explode," the senator said. The SEC worked to protect investors from crypto products and prevented "Bitcoin exchange-traded funds" from entering the market, Warren said. She also praised the commission's enforcement actions against cryptocurrency promoters such as Kim Kardashian and cryptocurrency exchanges such as Coinbase for alleged insider trading. Warren also analyzed the collapse of cryptocurrency exchange FTX, which caused a stir in the industry and prompted regulators to step up their efforts to improve oversight. She also called for FTX founder Sam Bankman-Fried to be held to account to the "full extent of the law". "The SEC should redouble its forces and use its enforcement tools. Congress must increase the resources that are needed to ensure that the body can perform its duties with full force in every corner of the crypto market." She added that all U.S. regulators must work together to oversee many aspects of the industry, including its environmental impacts from mining activities. Gensler has been criticized for allegedly meeting Bankman-Fried, who was once Washington's "crypto darling". As reported by the media, one in three US lawmakers received donations from FTX before its demise. Technical Market Outlook: The BTC/USD pair keeps trading above 100 MA, nevertheless the recent rally had been capped at $23,784 after the Bearish Engulfing candlestick pattern was made at H4 time frame chart. A breakout above the level of $25,000 is needed in order to extend the rally towards the key short-term technical resistance seen at $25,442. Please notice the growing bearish Divergence on the H4 time frame chart that pushed the price to the middle of the range already. On the other hand, any breakout below the range low ($22,330) would extend the corrective cycle towards the level of $21,466 (November 5th high). Strong and positive momentum support the short-term bullish outlook, however, the market is trading in a extremely overbought conditions. Weekly Pivot Points: WR3 - $24,368 WR2 - $23,535 WR1 - $23,112 Weekly Pivot - $22,702 WS1 - $22,278 WS2 - $21,869 WS3 - $21,035 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.     Relevance up to 08:00 2023-01-28 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/310335
Bitcoin Is Showing A Good Sign For The Further Rise

Bitcoin Is Showing A Good Sign For The Further Rise

Peter Jacimovic Peter Jacimovic 30.01.2023 09:13
Technical analysis: BTC/USD has been trading upside as I expected and the price did breakout of the trading range, which is good sign for the further rise. Trading recommendation: Due to the breakout of the trading range in the background, I see potential for the further upside movement. Watch for buying opportunities on the dips with the upside objectives at the price of $24.330 and $25.000 MACD oscillator is showing bull reading, which is good sign for the further upside continuation. Key support is set at the price of $23.400   Relevance up to 08:00 2023-01-31 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/310541
SEK Faces Risks as Disinflation Accelerates Ahead of Riksbank Meeting

Glovo Is Planning To Layoff 250 Workers Worldwide, The Middle East Is Already Suffering From A Water Shortage

Kamila Szypuła Kamila Szypuła 30.01.2023 12:30
Many companies hire additional employees during the pandemic, but the current economic situation has meant that rising costs force many companies to make redundancies. The Middle East is the warmest region on our planet, as everything has its good and bad sides. It turns out that the great disadvantage and at the same time the torment of this region can be the lack of water.   In this article: Bitcoin to naira The Layoffs Will water be more valuable than gold? Bitcoin to naira Nigeria's central bank wants to get citizens to switch to digital cash. The Central Bank of Nigeria continues to impose restrictions on cash withdrawals from ATMs as part of its ongoing efforts to accelerate the transition to a cashless society. These actions led to the price of one bitcoin (BTC) in Nigeria skyrocketing to the equivalent of $38,000 in the local currency, naira. Source: https://t.co/1JFzdATyNT — CoinGecko (@coingecko) January 30, 2023 The layoffs Significant layoffs no longer affect only technology companies, but also the service industry. The pandemic meant that restaurants were closed, and in order to stay on the market, restaurants offered deliveries. The leader of the supply remained Glovo, which significantly increased the number of employees due to the pandemic. The Spanish company Glovo said on Monday it planned to lay off 250 workers worldwide, citing declining orders and inefficiencies after the COVID-19 pandemic led to an increase in employment. The layoffs, which will mainly affect Glovo's Barcelona offices, represent a 6.5% reduction in the company's global workforce. The CEO stressed that the layoffs affected the company's headquarters in Barcelona in areas such as business support functions, recruitment and data. The current macroeconomic situation, with rising interest rates and inflation, reduces the purchasing power of consumers, and some decide to order less often. Delivery Hero's Glovo to lay off 250 employees worldwide https://t.co/sJJ8ZijUWn pic.twitter.com/ouaBmh3dbo — Reuters Business (@ReutersBiz) January 30, 2023 Will water be more valuable than gold? For many, gold and oil, also referred to as black gold, are the most valuable, but we forget about the most important resource without which it is impossible to survive - water. We can live without gold and oil and yet they are more valuable than water. Water is so common that its absence is something abstract. Water can become a scarce product, especially in the Middle East region, which is rich in oil. Many countries in the region already suffer from water stress, but what could that mean for the rest of the world? This shows that we should globally focus on climate care, because the lack of water can also affect other parts of the world. Energetic transpomation may not be enough, it may also turn out to be more reogristic water distribution. The Middle East is rich in oil reserves, providing a huge portion of the world’s energy. But what it has in abundance in hydrocarbons, it lacks in a resource that’s becoming scarcer by the year: water. (via @CNBCi) pic.twitter.com/ROBh9kw2hg — CNBC (@CNBC) January 30, 2023
There Are Many Ways To Join A Crypto Community

Kazakhstan Has Been Highly Popular Among Crypto Miners

Jakub Novak Jakub Novak 30.01.2023 14:21
The price of bitcoin dropped abruptly from a level of $24,000 to $23,900 this morning during the trade. The ether was also drawn to its limit but never updated. Additionally, the lawmakers in Nur-Sultan adopted the final draft of the law "On Digital Assets in the Republic of Kazakhstan" while many other markets, including the cryptocurrency market, awaited the Federal Reserve System's decision. The country's cryptocurrency market is now regulated by new legislation, which includes several other bills and establishes a licensing system for cryptocurrency exchanges and miners. Today, it was made public that the Senate had approved the cryptocurrency bill and had forwarded it to Kazakhstan's president for his signature. The law aims to control cryptocurrency-related activity. The new law "On Digital Assets in the Republic of Kazakhstan" establishes the prerequisites for the development of a crypto ecosystem in the nation, along with other legislative papers. The Law on Digital Assets and associated acts  Let me remind you that the upper chamber of Parliament deputies evaluated a complete package at the beginning of January and decided to make several specific adjustments, which were then adopted. The Law on Digital Assets and associated acts make up a single body of legislation that will enable the head of state of Kazakhstan to carry out his regulatory responsibilities regarding the creation and use of digital currencies. The bill and other essential adjustments made by senators, such as those to the laws of Kazakhstan on taxes and other payments to the budget, judicial administration, and administrative offenses, have not yet been approved by Tokayev, although it is anticipated that he will do so soon. Miners The primary objective of the government, according to legislators, is to control the operations of businesses that produce digital tokens and currencies in the nation. It is important to note that since China banned this kind of business, Kazakhstan has been highly popular among miners. However, the miners quickly came under public pressure because of their arrival, which caused a power crisis in the nation. By requiring licenses for both cryptocurrency exchanges and miners, the new measure establishes a regulatory framework for the industry and legalizes the digital asset market. The government also anticipates increased foreign investment and higher state budget receipts as a result of this. The technical picture of bitcoin today According to the law approved by President Tokayev in July 2022, bitcoin miners registered in the nation have already begun paying a higher premium for the electricity they use as of January 1. Regarding the technical picture of bitcoin today, the level of $23,980 is the closest goal for the bulls. With a fix, the positive trend will continue, and $24,400 may be updated. The $25,034 region will be the farthest objective, where major profit-taking and a rollback of bitcoin may take place. In the case of renewed pressure on the trading instrument, protecting the $23,220 level will be of utmost importance because a breach by sellers would be detrimental to the asset. This will put pressure back on bitcoin and create a direct path to $22,520. The first cryptocurrency ever created will "drop" in this location along with $21,840 if this level is broken. The market will undergo The collapse of the nearest resistance level of $1,670 is what ether buyers are concentrating on. This is going to be sufficient to establish a foothold at the current highs and keep the bullish trend going. The market will undergo considerable adjustments as a result of this. The sum will be returned to the ether if it fixes above $1,670, with the possibility of growth to a maximum of $1,758. Longer-term targets will be around the $1,819 level. The $1,594 level, which was just formed, will be in use when pressure on the trading instrument resumes. If it is successful, the trading instrument will rise to a minimum of $1,504 and a maximum of $1,410. It will be extremely difficult for bitcoin owners to trade below $1,320. Relevance up to 09:00 2023-01-31 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/333605
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

The Bitcoin Cryptocurrency's Rise Continues

Paolo Greco Paolo Greco 31.01.2023 08:18
Bitcoin is confidently moving to the level of $24,350 on the 4-hour TF. But as we are seeing now with the euro, there has been a pause in the upward momentum in recent days. Keep in mind that the euro and bitcoin are currently in a similar situation. Unlike the dollar, the euro is seen as a dangerous currency, while bitcoin is the riskiest form of investing. Both of these assets fell when the Fed and other central banks across the world started actively raising rates. Both assets have become more active as the time for the end of monetary policy tightening comes closer. We have consistently questioned the validity of the euro's increase in recent weeks. The QT program is still in operation, and the Fed is still raising interest rates. That is, just because tightening has slowed down doesn't mean that it has completely stopped. Naturally, market participants can predict some future occurrences and patterns. However, it is important to keep in mind that the rates will likely stay high for a very long time. Thus, according to theory, 2023 shouldn't see any significant growth. Also, keep in mind that the bullish trend for bitcoin has not yet begun. When the price surpasses the significant level of $24,350, which may serve as the side channel's upper limit, it will be possible to discuss such a trend. At the same time, Mike Novogratz, the CEO of Galaxy Digital, predicted that bitcoin will reach a price of $500,000 but that it would take longer to get there than anticipated. According to Novogratz, "the Fed's actions, which decided to demonstrate its ability to combat rising inflation and hiked rates from 0% to 4%, are the primary cause of the fall of bitcoin." As a result, all of the assets that we thought would be useful for hedging inflation started to decline. According to the CEO of Galaxy Digital, this is the primary cause of the bitcoin market's decline. At present, the crypto industry is struggling as a result of several significant players declaring bankruptcy, but these difficulties will pass and the sector will grow stronger and more established. As a result, the prices of digital assets will rise as well. However, it will take time; Novogratz estimates that it may take 5 or 10 years for bitcoin to reach the $500,000 threshold. The first cryptocurrency's rise continues with a target of $24,350 over a 4-hour period. From our perspective, a rebound from the level of $24,350 will serve as a signal to close any long positions and begin new short positions with targets of $18,500 and $17,582. The fundamental background should ideally steadily improve so that Bitcoin can continue to rise. Bitcoin might theoretically start a bullish trend. We have not seen this thus far. Relevance up to 15:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/333658
bitcoin - instaforex

Tesla Reported A Profit Of $64 Million From Converting BTC To Fiat Currency

Sebastian Seliga Sebastian Seliga 01.02.2023 09:00
Crypto Industry News: According to a filing filed with the U.S. Securities and Exchange Commission today, electric vehicle maker Tesla revealed that it reported a gross impairment loss of $204 million on its Bitcoins in 2022. At the same time, Tesla reported a profit of $64 million from converting BTC to fiat currency at various points in the year, resulting in a net loss of $140 million from its cryptocurrency trading activities. In the first quarter of 2021, Tesla invested $1.5 billion in Bitcoin. Then its founder, Elon Musk, announced that the manufacturer of electric vehicles will start accepting BTC payments from US consumers. The policy was retracted just months later, as Musk announced that before the company would accept means of payment again, it needed "confirmation of reasonable (~50%) clean energy consumption by BTC miners with a positive future trend." Technical Market Outlook: A breakout above the level of $25,000 on BTC/USD is needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, but just recently the market made a five waves to the down side instead. It means, the possible ABC Zig-Zag wave pattern is in progress and currently wave B is being developed. The Bearish Divergence on the H4 time frame charts help the bears. On the other hand, any breakout below the range low ($22,330) would extend the corrective cycle towards the level of $21,466 (November 5th high). Strong and positive momentum support the short-term bullish outlook, however, the market is trading in a extremely overbought conditions. Weekly Pivot Points: WR3 - $24,554 WR2 - $23,983 WR1 - $23,640 Weekly Pivot - $23,412 WS1 - $23,069 WS2 - $22,842 WS3 - $22,271 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 2023-02-02 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/310959
Crypto: according to Craig Erlam, there seems to be a gap between reality and prices

A Breakout Above The Level Of $25,000 On Bitcoin Is Still Needed In Order To Extend The Rally

Sebastian Seliga Sebastian Seliga 02.02.2023 10:41
Crypto Industry News: Indian Finance Minister Nirmala Sitharaman presented the 2022-23 economic analysis to Parliament. The Economic Analysis is the annual flagship document of the Ministry of Finance, which presents the performance of India's economy in the previous financial year and presents the economic outlook for the current financial year. Including cryptocurrencies for the first time this year, the economic study highlights the "need for a common approach to regulating the crypto ecosystem." The 414-page document explains: "The recent collapse of crypto exchange FTX and the ensuing sell-off in crypto markets has highlighted gaps in the crypto ecosystem," explaining: "Crypto assets are self-referential instruments and do not strictly meet the test of being a financial asset as they do not involve internal cash flows." India's central bank, the Reserve Bank of India (RBI), has also repeatedly warned that cryptocurrencies have no intrinsic value, adding that they pose a threat to the country's financial stability. The RBI has recommended banning cryptocurrencies such as Bitcoin and Ethereum. The Economic Survey also states that "U.S. regulators have disqualified Bitcoin, Ethereum and various other crypto assets as securities." However, the chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, confirmed that Bitcoin is a commodity, but did not comment on Ethereum. Nevertheless, he stressed that most other tokens are securities. Read next: USD/JPY Pair Drop Below 130.00, GBP/USD Is Trading Below 1.2330, The Australian Dollar Remains Generally Up| FXMAG.COM Technical Market Outlook: The potential corrective cycle in for of an ABC Zig-Zag pattern has been invalidated as the market made a new local high at the level of $24,248. A breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. The intraday technical support is seen at $23,950 and the key short-term technical support is located at $22,308. Weekly Pivot Points: WR3 - $24,554 WR2 - $23,983 WR1 - $23,640 Weekly Pivot - $23,412 WS1 - $23,069 WS2 - $22,842 WS3 - $22,271 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-02-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/311139
Worst behind us for UK retail despite fall in sales

The BoE Is Hiking The UK Economy Into Recession, Meta Managed To Put A Smile On Investors’ Faces

Craig Erlam Craig Erlam 02.02.2023 13:07
Equity markets are off to a strong start on Thursday, buoyed it seems by the Fed’s latest decision and Meta earnings. While Powell was determined not to overplay the shift in the Fed’s views on inflation and interest rates, certain comments were well received by the markets. The acceptance that the disinflation process has begun, being one obvious comment, but this was also paired with him stressing that they need substantially more evidence and to hike a couple more times before monetary policy is appropriately restrictive. All things considered, I think there was enough there to conclude we’re almost at an end on tightening and market expectations of one more 25 basis point hike and maybe a couple of cuts later in the year look reasonable. Of course, there’s plenty of data to come before the next meeting in March so a lot could change in that time. What will the ECB and BoE deliver? Now it’s over to the ECB and BoE to deliver their decisions, both of which are expected to be 50 basis point hikes. But what comes next is the key question in both cases. The BoE is hiking the UK economy into recession but inflation remains stubbornly very high. The ECB meanwhile was very late to the party and has some catching up to do, while the economic backdrop looks a little better than it did in December. The BoE decision is also accompanied by a press conference with Governor Andrew Bailey and his colleagues, as well as the latest monetary policy report and new projections. That should make this event very interesting, indeed, as we’ll get a better insight into how effective the MPC believes past hikes have been, when we’ll see the results and how much more they think are necessary. Read next: Santander Bank Polska Shareholders Can Expect A Solid Dividend ,The ETH Liquid Staking Narrative Is Already Going Strong| FXMAG.COM Can big tech follow in Meta’s footsteps? Earnings season has been tough so far this quarter but Meta managed to put a smile on investors’ faces, announcing slightly better revenues than expected, a plan to reduce costs and make the company more efficient this year, and a $40 billion share buyback. That has seen the share price rise almost 20% in premarkets, and Nasdaq futures to rise more than 1%. The question now is can Apple, Amazon, Alphabet and others deliver similar results today. Oil drifts lower Oil prices drifted lower again on Wednesday on the back of weaker manufacturing activity data from the US and a strong build in the EIA inventory data. Prices have been on the decline over the last week or so as investors have become less confident in the strength of the outlook, something we could see change repeatedly in this first quarter due to the lack of visibility on interest rate and China’s Covid transition. Gold liked what Powell had to say Gold was clearly buoyed by what the Fed and its Chairman had to say, with the price rallying back above $1,950 and out of its recent range. It’s now trading around $1,955, the one concern being the weak momentum backing it. That could change of course but it likely faces strong resistance on approach to $2,000, with $1,975 being an interesting test last time around. Major resistance ahead Bitcoin has done very well in a much improved risk environment so far this year and it has taken another step in the right direction over the last 24 hours, hitting a new 6-month high in the process. It now faces significant resistance around $24,500-$25,500, a break of which could give it a massive psychological lift. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Bitcoin amid recent banking sector situation: simply put, it is no longer a question of yield but safety

Cryptocurrencies: Only Trust Wallet Token Has Gained A Positive Return

Santa Zvaigzne Sproge Santa Zvaigzne Sproge 02.02.2023 14:31
Cryptocurrencies on the brink of a nervous breakdown Cryptocurrencies have been in retreat for the last quarter of 2022. For the 75 largest of these (excluding stablecoins), the average decline since the beginning of the year has been as much as 65.09%. Bitcoin (BTCUSD) has fallen by 63.22% in that time. Interestingly, in this pool, only one cryptocurrency - Trust Wallet Token - has gained a positive return of more than 240% since the beginning of the year. However, let us recall the structure of this market. The value of all cryptocurrencies, according to MacroMicro data, is currently around 860 billion USD and has fallen by 69% (2.82 trillion USD) since its peak. Currently, Bitcoin accounts for 38% of the capitalisation, with the second largest digital currency Ethereum accounting for 18%. The average correlation of all currencies against Bitcoin was 0.71. It may indicate a high dependence of this market on the valuation of just this one cryptocurrency. Therefore, with elevated volatility, increases or decreases in Bitcoin, we could expect similar reactions in other cryptocurrencies. The correlation of Bitcoin with the S&P500 (US500) index was 0.56, which appears to be a significant correlation. Additionally, the cryptocurrency volatility was noticeably higher than the stock market, measured by an annualised standard deviation of 58.5% compared to the S&P500’s 21.7%. The average deviation of the market for the largest digital currencies was 91%, and the record holder was Synthetix (SNXUSD), whose annual volatility was as high as 141%. This shows us how this asset class had increased risk relative to the equity market. Read next: Resumption Of Cooperation Between Airbus And Qatar Airways| FXMAG.COM Cryptocurrencies the babies of cheap money Previously, central banks’ monetary policies may have been behind the success of the cryptocurrency market. Measures to stimulate post-pandemic economies by providing cheap money in the form of low interest rates have historically led to local speculative bubbles. It appears to be no different in this case. We can see a correlation with regard to changes in the size of the M2 monetary base and the Bitcoin price, whose growth rate has slowed considerably this year. Therefore, as we are currently in a cycle of ever higher interest rates and monetary tightening, it seems that we may not see increases in this market any time soon. „Only when the tide goes out that do you discover who’s been swimming naked” - the consequences of the FTX stock market collapse Since we saw the bankruptcy of the 3rd largest cryptocurrency exchange FTX, the digital currency market has pierced in recent support levels. Currently, the price of Bitcoin (BTCUSD) is hovering around 17,000 USD. To answer the question of which exchanges may be at risk of insolvency, we should assess the level of coverage of positions taken. The Coinmarketcap website has introduced such a feature. However, it seems that the lack of transparency in this case could be one of the first clues to warn investors. The exchanges currently characterised by relatively high turnover and, at the same time, a lack of transparency are Ecxx, MEXC, IndoEx, Upbit and BitCoke. Increased liquidity could be linked to investors’ willingness to withdraw funds and close positions, so that these entities need to be particularly watched. Good to watch cryptocurrencies Read the full Yearly Outlook 2023 by Conotoxia here!
Crypto: according to Craig Erlam, there seems to be a gap between reality and prices

Huang Yiping Voiced His Concerns About The Future Of Fintech In China

Sebastian Seliga Sebastian Seliga 03.02.2023 09:57
Crypto Industry News: The idea of lifting the ban on cryptocurrencies began circulating in China after a former central bank official urged the country to reconsider its strict restrictions on cryptocurrencies. Huang Yiping, a former member of the Monetary Policy Committee of the People's Bank of China (PBoC), believes that the Chinese government should reconsider whether the ban on cryptocurrency trading is sustainable in the long run. Huang voiced his concerns about the future of fintech in China in a speech in December, according to a transcript published by local Sina Finance on January 29. The former official argued that a permanent ban on cryptocurrencies could result in many missed opportunities for the formal financial system, including related to Blockchain and tokenization. He stated that cryptocurrency technologies are "very valuable" to regulated financial systems, adding: "Banning cryptocurrencies may be practical in the short term, but whether it is sustainable in the long term deserves in-depth analysis," Huang stated. He also stressed the importance of developing an appropriate regulatory framework for cryptocurrencies, although he acknowledged that it will not be an easy task. Technical Market Outlook: The potential corrective cycle in for of an ABC Zig-Zag pattern has been invalidated as the market made a new local high at the level of $24,248. A breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. Nevertheless, so far the bullish rally was capped at the local high and the market reversed towards the middle of the old trading range. The intraday technical support is seen at $23,298 and the key short-term technical support is located at $22,523 and $22,308. Weekly Pivot Points: WR3 - $24,554 WR2 - $23,983 WR1 - $23,640 Weekly Pivot - $23,412 WS1 - $23,069 WS2 - $22,842 WS3 - $22,271 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-02-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/311310
Cryptocurrency: There are a few signs that Bitcoin price may increase

Bitcoin Is Showing Fresh Upside Momentum

Peter Jacimovic Peter Jacimovic 03.02.2023 11:23
Technical analysis: BTC/USD has been trading downside this morning and I found that support zone at the price of $23.300 is on the test. Trading recommendation: Due to the strong upside long term trend in the background and test of the support, I see potential for the upside rotation today. Watch for the potential buying opportunities with the upside objective at $23.890. Slow Stochastic oscillator is showing fresh upside momentum , which is strong sign that buyers are in control. Key support is set at the price of $23.250 Read next: Starbucks Revenues Are High Despite High Costs| FXMAG.COM
The RBA’s aggressive rate tightening cycle will be continued

The RBA Is On A Similar Trajectory To The Fed Now

Craig Erlam Craig Erlam 07.02.2023 15:39
Equity markets are treading water on Tuesday, as investors take a pause following quite an eventful week. Investors seem a little lost this week, disheartened by the jobs report in particular but also poor tech earnings and a still-hawkish Federal Reserve. The central bank may have softened its tone a little but once you take the economic data into consideration, the case for a couple more 25-basis point hikes is clearly there. That’s come as quite a setback following what has been a much more optimistic start to the year, in which interest rate expectations have been broadly pared back. But as was always likely to be the case, and will likely remain so this quarter at least, the data is going to be inconsistent and sentiment is going to reflect that. The path to peak inflation seemed very linear and sharp but the journey back to 2% is likely to be anything but. Clearly, there is a lot of underlying strength in the labour market that is going to make the case for pausing challenging, although I suspect there’ll be plenty of examples over the next couple of months that may make it seem more appealing. A slight hawkish shift from the RBA? The RBA is on a similar trajectory to the Fed now, even a little ahead, in that it’s on a meeting-by-meeting path and has been hiking in 25 basis point increments since October. That said, based on the language overnight, it would appear the light at the end of the tunnel may be dimming and the RBA could be laying the groundwork for a prolonged exit. Core inflation has remained stubbornly high and while a return to super-sized hikes looks unlikely, the expectation now for the next couple of meetings is that 25 basis point hikes are widely expected. Read next: EUR/USD Drop Below 1.0700$ And GBP/USD Drop To 1.967$, The Aussie Pair Holds Above 0.69| FXMAG.COM Tick and tick Bitcoin continues to look in a fairly strong position, having weathered the recent storm quite well. It remains not far from its highs and within the range it’s traded in for most of the last few weeks. Sentiment remains a dominant factor but what the community will likely be hoping for more than anything right now is for headlines to not turn against them and for cryptos to show some resilience. So far, both of those boxes are being ticked. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
UK Bank Bosses Are Blocking Customers From Accessing Crypto Assets

UK Bank Bosses Are Blocking Customers From Accessing Crypto Assets

Sebastian Seliga Sebastian Seliga 08.02.2023 11:14
Crypto Industry News: UK bank bosses are blocking customers from accessing crypto assets over concerns about fraud and volatility, lawmakers have been told today. Social media and technology platforms have been identified as a significant source of fraud. However, directors told the Treasury Committee that the new rules could boost confidence. "As a bank, we have taken a pretty hard line on cryptocurrencies. We are blocking retail and affluent clients from switching to crypto assets due to the volatility and stability of the platform. We are looking at this from a scam perspective. It's their money - but if we show serious fraud, we'll block them," Alison Rose, chief executive of NatWest Group, told the House of Commons committee. She pointed to the need to "stop it at the source", citing statistics showing that 60% of customers who fall victim to the scam come from social media or technology platforms. Other executives interviewed by the committee were also skeptical about cryptocurrencies. However, they saw potential in the new rules proposed for the sector by the UK Treasury last week. Read next: The Decline In Tech Valuations Continues To Hit SoftBank| FXMAG.COM Technical Market Outlook: The bullish rally was capped at the level of $24,258 after the Shooting Star candlestick pattern was made on the Daily time frame chart and the market reversed towards the middle of the old trading range. A breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. The key short-term technical support is located at $22,523 and $22,308. On the lower time frames, like H4, the bulls bounced from the technical support located at the level of $22,522 and tested the short-term trend line resistance (rejection). The key short-term technical support is seen at the level of $22,308. Weekly Pivot Points: WR3 - $22,820 WR2 - $22,768 WR1 - $22,745 Weekly Pivot - $22,715 WS1 - $22,693 WS2 - $22,663 WS3 - $22,610 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-02-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/311851
Rates Spark: Riding the hawkish wave while it lasts

Traders Had Become A Little More Defensive On The Expectation Of A Hawkish Shift

Craig Erlam Craig Erlam 08.02.2023 12:35
European equity markets are expected to open a little higher on Wednesday following a positive shift on Wall Street on Tuesday, while Asia overnight was a very mixed bag. Investors appear a little relieved at Fed Chair Jerome Powell sticking to last week’s script despite Friday’s jobs report indicating that the labour market remains red hot. It would appear traders had become a little more defensive on the expectation of a hawkish shift but Powell refrained from taking the leap. And credit to him for doing so. The central bank, like others, has long talked about one data point not making a trend and while there are causes for concern in last week’s jobs report, it’s not a game changer. Wages are still heading in the right direction, and participation also improved. That said, we are getting a consistent message from policymakers across various central banks. While headline inflation is falling and will likely fall much further, core services inflation remains a big concern, and tight labour markets make achieving lower wage growth consistent with 2% inflation targets very difficult. It’s been clear for a while that the journey back to 2% was likely to be more treacherous than the path to peak inflation, and the data in the first quarter in particular, perhaps the second also, was going to highlight that. Recent jobs reports alone have epitomized that and sentiment in the markets is likely to continue mirroring it in the coming months. ​ The year of the crypto revival Bitcoin also enjoyed some light relief from Powell’s risk rebound overnight and it came at a good moment as the cryptocurrency was beginning to flirt with range lows. It’s now safely back in the middle of a near three-week range and still holding onto the bulk of the new year gains. 2023 may well be the year of the crypto revival. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Cryptocurrency: There are a few signs that Bitcoin price may increase

The Bullish Rally Of Bitcoin Was Capped

Sebastian Seliga Sebastian Seliga 09.02.2023 10:59
Crypto Industry News: The UAE's largest airline, Emirates Airline, has stated its intention to adopt Bitcoin as a means of payment and use blockchain technology to track aircraft records, but according to a recently published document, operations with anonymity-enhancing cryptocurrencies such as XMR and ZEC are now prohibited in Dubai. The local regulator has also set the authorization requirements that crypto companies must meet before entering the region. The most basic rules include anti-money laundering obligations, marketing protocols, insider trading prevention, and watching if an asset class is used in criminal activity. Angela Ang, Senior Policy Advisor at blockchain technology firm TRM Labs, commented: "Any obfuscation of fund flows is a challenge to detect illegal activities. So it's no surprise that regulators react strongly to these types of asset classes and mechanisms." The updated system aims to ensure maximum security for local consumers and establish Dubai as a global hub for blockchain technology. Technical Market Outlook: The bullish rally was capped at the level of $24,258 after the Shooting Star candlestick pattern was made on the Daily time frame chart and the market reversed towards the key short-term technical support seen at $22,328. A breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. The key short-term technical support is located at $22,523 and $22,308. On the lower time frames, like H4, the bulls bounced from the technical support located at the level of $22,522 and tested the short-term trend line resistance (rejection). The key short-term technical support is seen at the level of $22,308. Weekly Pivot Points: WR3 - $22,820 WR2 - $22,768 WR1 - $22,745 Weekly Pivot - $22,715 WS1 - $22,693 WS2 - $22,663 WS3 - $22,610 Read next: Disney Plans To Cut Costs And Jobs, Google Is Now Rolling Out AI Chatbot| FXMAG.COM Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.     Relevance up to 09:00 2023-02-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/312055
Bitcoin needs to stay above $29k by the end of today's trading session to strengthen its positions and continue moving towards $30k says InstaForex's Petrenko

Analysis Of Bitcoin: Cryptocurrency Is Showing A New Sign Of Weakness

InstaForex Analysis InstaForex Analysis 09.02.2023 14:37
Blue lines- bearish RSI divergence Green line- support trend line Bitcoin is trading around $22,700. Bitcoin made a move lower towards $22,300 earlier breaking below the short-term support trend line and providing a new sign of weakness. Bitcoin has now started a new sequence of lower lows and lower highs. The bearish RSI warning now is combined with a lower low and lower high. Bitcoin is vulnerable to a move lower towards $20,000 and maybe lower. Resistance is at $23,450. As long as price is below this level, short-term trend remains bearish. Read next: USD/JPY Is Below 131.00 Again, The Aussie Is Close To 0.70$| FXMAG.COM Relevance up to 14:00 2023-02-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/312113
Bitcoin Is Strongly Bearish, So A Further Drop Is Natural

It Will Be Difficult For Bitcoin Owners To Trade Below $1,260

Jakub Novak Jakub Novak 10.02.2023 09:27
In light of recent discussions about the beginning of a global economic recession and the escalation of SEC actions aimed at regulating the space of cryptocurrencies, the exchange rate of bitcoin and ether has significantly decreased, which is not surprising.  Hester Peirce publicly criticized her organization's persecution of the cryptocurrency industry  The Securities and Exchange Commission's Hester Peirce publicly criticized her organization's persecution of the cryptocurrency industry yesterday, calling it "paternalistic and lazy" and questioning whether a hostile regulator is the best course of action for the sector. In an article published on Thursday, Peirce, who was appointed to her position by President Donald Trump in 2018, expressed her disagreement with the SEC's claim that prohibiting staking on cryptocurrency exchanges. The SEC registration process Let me remind you that the exchange was accused of engaging in an unauthorized offer and sale of securities through its lending platform in the SEC's action against Kraken, which was settled without admitting or denying wrongdoing. According to Peirce, this was not the primary issue that required attention. "Whether someone accepts or disagrees with this view, the more important question is whether the SEC must grant permission for such operations." The SEC registration process is not currently used for proposals relating to cryptocurrency staking. She added that applying enforcement actions in this situation is not an ethical or effective form of regulation. SEC Chairman Gary Gensler  More recently, Congress, the White House, and SEC Chairman Gary Gensler have asked for tougher regulation of the cryptocurrency sector. To restrict the growth of the cryptocurrency business, Gensler and his SEC Enforcement team have already started to take more aggressive action than the Department of Justice or politicians. The SEC's actions were described as a step toward investors  It's important to note that the SEC's actions were described as a step toward investors who didn't receive the information they deserved in yesterday's press release announcing the settlement of SEC problems with Kraken. Here is a clear indication that the SEC will no longer permit a recurrence of the events that led to the collapse and bankruptcy of FTX last year when the company's owners did whatever they pleased with consumers' money. The technological state of bitcoin  Regarding the technological state of bitcoin right now, it is still under a lot of pressure. The bulls' immediate objective is to defend the $21700 level after missing $22,500. Only after the return and consolidation around $22,580, which will reinstate the positive trend with the possibility of updating $23,350 and $24,000, will it be feasible to discuss the restoration of the buyers' initiative. The $25,034 level will be the farthest target, where significant profit-taking and a rollback of bitcoin may take place. The $21,700 level will need to be protected if the pressure on the trading instrument continues because a breach would be a blow to the asset. This will put pressure back on bitcoin and create a direct path to $20,740. The first cryptocurrency ever created will "drop" in this location along with $19,770 if this level is broken. Read next: Credit Suisse Reported Its Biggest Annual Loss Since The 2008, Ukrainian President Is Asking For Help And More Weapons In Brussels| FXMAG.COM The breakdown of the nearest resistance at $1,604 is what ether buyers are concentrating on. This is going to be sufficient to establish a foothold at the current highs and keep the bullish trend going. However, the market will not be significantly altered as a result. The amount will only be returned to the ether, with the possibility of growth to a maximum of $1,758 if there is a consolidation over $1,690. The $1,819 area will be further off target. While keeping pressure on the trading instrument, the level of $1,534 will be in play, just below which $ 1410 is seen. If it succeeds, the trading instrument will rise to a minimum of $1,320. It will be extremely difficult for bitcoin owners to trade below $1,260.   Relevance up to 08:00 2023-02-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/334756
Microsoft Is Replacing The Metaverse With Artificial Intelligence (AI)

AI Divergence Between Microsoft And Google Intensifies

Swissquote Bank Swissquote Bank 10.02.2023 10:34
US stocks failed to keep up with the European optimism on the back of rising bets that the Federal Reserve (Fed) could hike the interest rates to 6%. In fact, option traders are piling into bets that the US rates could peak at 6%. Mexico’s Banxico Plus, the surprise 50bp hike from Mexico’s Banxico, on the back of unexpected – and unwelcomed inflation jump since the end of last year, also raised worries that the US could experience a similar uptick in inflation, and, may have to raise rates higher. Optimism And the strong US jobs market, the latest recovery in energy and commodity prices on the Chinese reopening optimism, and the sudden jump in second-hand car prices are red flags… Stock market The S&P500 fell 0.88% yesterday, and Nasdaq retreated 0.90%. Topsellers will likely remain in charge of the market on the possibility that maybe inflation in the US may have not eased to 6.2% as expected by analysts. But nothing is clear before next Tuesday’s CPI release, in terms of Fed expectations. USD What’s interesting though, is that the hawkish Fed bets don’t translate fully into the US dollar valuation. The US dollar remains under pressure despite the positive pressure on the US yields. And the 50-DMA offers remain particularly solid in the US dollar index. Read next: Twitter Co-Founder Jack Dorsey Comments New Twitter's Owner| FXMAG.COM Bitcoin Finally, Bitcoin fell 5% on news that Kraken stops staking. Negative pressure in tech stocks could further weigh on appetite. Watch the full episode to find out more! 0:00 Intro 0:32 Swiss stocks fell on mixed bag of bad news 2:48 US stocks under pressure as option traders bet for 6% Fed rate 5:25 AI divergence between Microsoft and Google intensifies 5:57 Tesla rallies past $200 but… 6:47 US dollar remains offered at 50-DMA. What are traders waiting for? 7:29 Bitcoin under pressure as Kraken halts staking Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Fed #peak #rate #hawkish #bets #US #inflation #Tesla #Google #Bard #AI #gaffe #Microsoft #ChatGPT #USD #EUR #JPY #Bitcoin #Kraken #CreditSuisse #Trafigura #Swatch #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
Kenny Fisher talks British pound against US dollar. UK economy declined 0.3% in March, Bank of England chose the 25bp variant

Data This Morning Confirmed The UK Avoided A Recession At The End Of 2022

Craig Erlam Craig Erlam 10.02.2023 14:39
Equity markets are ending the week on a flat or slightly downbeat note which has largely reflected the mood all week, really. Central bankers, particularly from the Fed, have been out in force stressing caution over interest rate expectations. And it’s clearly had an impact following that red-hot jobs report last Thursday. Markets are now pricing in two more hikes from the Fed and possibly one cut later in the year. No time for sparkling wine I think it’s safe to say the sparkling wine can remain on ice after data this morning confirmed the UK avoided a recession at the end of 2022 by the narrowest of margins. So much so that there’s every chance that a tiny revision over the next couple of months confirms quite the opposite. Ultimately, this isn’t a story of whether the UK is in recession or not as that’s just a simple technical definition. It’s a story of zero growth – quite literally in the case of the fourth quarter – and the fact that this likely represents the recent past, present, and near-term future prospects for the UK economy. High but falling inflation and basically no growth for some time. It’s all a bit bleak really. Of course, that’s better than where we expected to be at this point so that’s a positive. The data towards the end of the year is actually quite difficult to pick apart due to the impact of one-off or temporary events like the world cup, the loss of premier league football, and most importantly, the many, many public sector strikes that continued into the new year. The negative impact on the pound was brief though as the data doesn’t tell us anything we didn’t already know, nor does it alter the outlook on inflation or interest rates. First big test of the recovery After showing solid resilience over the past few weeks, bitcoin finally appears to have entered into a correction phase after falling almost 5% on Thursday. The community won’t be too dismayed by the move as it was never just going to go from strength to strength and this correction will enable us to see just how quickly money pours back in. It should be an interesting couple of weeks. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
P2P Cryptocurrency Platform LocalBitcoins Is Shutting Down

P2P Cryptocurrency Platform LocalBitcoins Is Shutting Down

Sebastian Seliga Sebastian Seliga 13.02.2023 10:21
Crypto Industry News: Finland-based P2P cryptocurrency platform LocalBitcoins is shutting down after more than 10 years. The company officially announced the discontinuation of services on February 9, citing the difficult market conditions of the ongoing cryptocurrency winter. "Regardless of our efforts to address the challenges of restoring trading volume and declining market share, we have come to the regret that LocalBitcoins can no longer provide a Bitcoin trading service," said LocalBitcoins CEO Nikolaus Kangas. LocalBitcoins encouraged all customers to withdraw their assets from the platform, requesting continued Bitcoin withdrawals from the LocalBitcoins wallet. According to the announcement, users can withdraw cryptocurrencies for 12 months. As scheduled, LocalBitcoins will immediately suspend all new registrations from today. Trading will be suspended on February 16, and after that, users will only be able to log into the wallet to withdraw funds. Technical Market Outlook: The BTC/USD pair key short-term technical support located at $22,523 and $22,308 had been violated and the bears made a new local low at the level of $21,488. On the lower time frames, like H4, the momentum is still weak and negative, but bulls are tying to bounce towards the level of $22,328. The market trades below the short-term trend line resistance and below 50 and 100 MA. . A breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. Read next: Amazon Is Slowly Dismantling Tony Hsieh’s Version Of Zappos, Louisa Vuitton Doubled Sales| FXMAG.COM Weekly Pivot Points: WR3 - $22,270 WR2 - $22,017 WR1 - $21,928 Weekly Pivot - $21,765 WS1 - $22,675 WS2 - $21,510 WS3 - $21,322 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.     Relevance up to 09:00 2023-02-14 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/312414
Bitcoin Is Strongly Bearish, So A Further Drop Is Natural

Bitcoin's Further Movement In The Coming Days Will Depend On The Behavior Of The Stock Market

InstaForex Analysis InstaForex Analysis 13.02.2023 14:11
The previous week ended with the beginning of a long-awaited corrective movement for Bitcoin. At the end of Thursday, the cryptocurrency formed the largest red candle from November 9, and the price made a bearish breakdown of the $22k level. Bitcoin spent the weekend calmly consolidating below the $22k area. Buyers managed to stop the fall, and the price consolidated near the $21.8k support area. There are no clear signals for further price movement due to a decline in trading activity. However, this week can be the starting point for a deeper correction and a resumption of the bullish trend. Inflation data The Wall Street Journal reported that investors expect a probable extension of the key rate hike cycle by one month. They also noted the strong labor market as the main argument of the Fed in extending the period of raising the key rate. But there is a possibility that this will not happen if the pace of inflation decline accelerates. That is why the publication of statistical data on the consumer price index this week may become a key signal that will set the medium-term trend for the movement of risky assets. The consumer price index is at 6.5%, and according to the forecasts, the index will fall to 5%. Experts are betting on a further acceleration of the deflationary movement, and if the forecasts do not match the facts, the market reaction could be painful. In addition, the Securities and Exchange Commission is actively taking on the crypto market. The SEC recently succeeded in halting the stacking of a major U.S. crypto exchange. As of February 13, the regulator also influenced Paxos to stop the issuance of BUSD stablecoin. All actions of the SEC at the current stage have clearly negative consequences for the crypto market, as they scare away investors. In the long term, this may be a positive signal due to the likely increase in the level of security in the crypto market, but right now, the SEC policy is destructive for the price of crypto assets. Bitcoin and SPX Bitcoin retains a high correlation with the SPX index, and, as already noted, it was the activation of sellers on the stock market that contributed to the fall of both risky assets. According to Santiment experts, the positive correlation of BTC and SPX complicates the upward movement of the cryptocurrency. In addition, experts from the world's leading banks predict an early completion of the SPX rally and the beginning of a corrective movement to $3,500–$3,600. Morgan Stanley once again said that investor interest in SPX and stock indices reached a peak, after which a sell-off usually followed. BTC/USD Analysis Over the weekend, we saw local attempts by buyers to break through the round level of $22k. These attempts were completely absorbed by the sellers, after which the price returned to the usual area of $21.5k–$21.8k. Much of Bitcoin's further movement in the coming days will depend on the behavior of the stock market, and hence the results of the deflationary movement. If the forecasts correspond to the actual data, we should expect an upward movement of Bitcoin to the levels of $22.5k–$22.7k, where there is a local resistance zone. Subsequently, the cryptocurrency will need to gain a foothold above $23k in order to finally level out the bearish scenario. Otherwise, the price will start to decline, and the expected targets will be Fibo levels. This means that BTC/USD will move to the second stage of correction, which may become deeper. Results In any of the cases, except for fixing the price above $23k, Bitcoin is moving towards the second stage of correction. The estimated targets for the asset will be the $21.4k level and deeper to the $20k area. Below $21k, investor sentiment could drop heavily, which could lead to a breakdown of the $20k round mark. However, if the bullish sentiment persists, which will be visible on the main on-chain metrics, we will see active accumulation in the $20k–$21k area. Subsequently, this will allow Bitcoin to continue its upward movement towards the $24k–$25k levels.   Relevance up to 09:00 2023-02-14 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/334911
The Bears Of Bitcoin Made A New Local Low At The Level Of $21,488

The Bears Of Bitcoin Made A New Local Low At The Level Of $21,488

Sebastian Seliga Sebastian Seliga 14.02.2023 09:25
Crypto Industry News: The Central Bank of the United Arab Emirates (UAE) plans to introduce a central bank digital currency (CBDC) for domestic and cross-border use as part of its newly launched Financial Infrastructure Transformation (FIT) program. In a recent announcement, the Bank presented the FIT program and emphasized its goal of supporting the domestic financial services sector. The central bank stressed that the program will promote digital transactions and enable the UAE to compete as a hub for financial and digital payments. The first stage of the FIT program involves the issuance of CBDCs. According to the central bank, the release of the CBDC would "appropriately address the problems and inefficiencies of cross-border payments and help drive innovation in domestic payments." According to Khaled Mohamed Balama, the governor of the CBUAE, the FIT program will "support the UAE's thriving financial ecosystem and its future growth." In addition to the CBDC, the government also plans to launch a unified card payment platform to "facilitate the growth of e-commerce" and instant payment platforms to "promote financial inclusion and enable a cashless society" during the first phase of the program. The FIT program includes nine initiatives, including those that will be implemented in the first stage. The initiatives that will be introduced after the first stage are the e-Know Your Customer platform and the innovation hub. On February 7, Dubai's virtual asset regulator published the long-awaited "Full Market Products Regulations" which contain extensive guides on virtual asset activities for projects operating in the emirate. The regulations include a ban on the issuance of "enhanced anonymity cryptocurrencies", also commonly referred to as "privacy coins". Technical Market Outlook: The BTC/USD pair key short-term technical support located at $22,523 and $22,308 had been violated and the bears made a new local low at the level of $21,488. On the lower time frames, like H4, the momentum is still weak and negative, but bulls are tying to bounce towards the level of $22,328 to test it again. The market trades below the short-term trend line resistance (orange line on the chart) and below 50 and 100 MA. A breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. Weekly Pivot Points: WR3 - $22,270 WR2 - $22,017 WR1 - $21,928 Weekly Pivot - $21,765 WS1 - $22,675 WS2 - $21,510 WS3 - $21,322 Read next: GBP/USD Started The New Week In A Calm Way, EUR/USD Is Waiting For US CPI Report| FXMAG.COM Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 2023-02-15 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/312594
Deciphering the Economic Puzzle: Unraveling Britain's Mixed Signals

In UK Labour Market Figures Showed Wages Excluding Bonuses Rising Once More

Craig Erlam Craig Erlam 14.02.2023 14:52
Stock markets got the week off to a strong start and that optimism is carrying through to the inflation report release, it would appear. European indices are trading around half a percentage point higher early in the day and US futures indicate a slightly positive open as well. Of course, all of that will probably change between now and the opening bell, with the inflation data being released an hour before. As was the case yesterday, I’m quite surprised at the level of optimism we’re seeing in the run-up to the report. The inflation data has a lot of heavy lifting to do in order to alleviate clear concerns over the tightness of the labour market. The January report has heaped more pressure on the CPI to deliver and forecasts are not that hopeful. Time will tell whether investors have been a little bit complacent on this one. A concerning wage number for the BoE UK watchers may be feeling a little less optimistic this morning after labour market figures showed wages excluding bonuses rising once more in December. They were expected to stay flat at 6.5% but instead jumped to 6.7%, a level still far below headline inflation and not consistent with it falling back to target any time soon. Including bonuses, the number was a slightly more modest 5.9% which is still too high but at least a deceleration from the month before. Following the release, UK yields were given a nudge higher, lifting the pound in the process alongside expectations on the terminal rate which is now seen hitting 4.5% and probably not falling this year. Read next: GBP/USD Pair Rose Sharply Above $1.22, EUR/USD Pair Also Rose| FXMAG.COM All hangs on CPI Bitcoin has also consolidated in the run-up to today’s inflation number. This ultimately becomes a case of whether markets go into risk-on or risk-off mode following the release. It has entered into a corrective move but that’s unlikely to continue if today’s inflation print falls short of expectations again. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Microsoft Is Replacing The Metaverse With Artificial Intelligence (AI)

Microsoft Is Replacing The Metaverse With Artificial Intelligence (AI)

Jakub Novak Jakub Novak 14.02.2023 15:47
While a technical correction is brewing in the crypto market, especially given the rally seen earlier this year, software giant Microsoft has announced that it is closing one of its largest Industrial Metaverse Core groups. The company reportedly laid off its entire Industrial Metaverse Core group of 100 employees. This came as part of an announced layoff of 10,000 people in January. Microsoft, the Washington-based software giant, abandons the metaverse in favor of other initiatives. According to The Information, the company has disbanded the Industrial Metaverse Core group, a division of the company dedicated to bringing the metaverse into an industrial environment. The group was created just four months ago and was expected to serve as a bridge to implement metaverse interfaces to control power plants, industrial robotics, and transportation networks. The division was part of the efforts directed to bring the metaverse to industrial environments by bridging software to this initiative. The tech giant's spokesperson comments "Microsoft remains committed to the industrial metaverse. We are applying our focus to the areas of the industrial metaverse that matter most to our customers and they will see no change in how they are supported. We look forward to sharing additional information in the future," the tech giant's spokesperson said. According to experts, this suggests that Microsoft will now use some of its resources from metaverse initiatives and pour them into other areas, such as artificial intelligence. Earlier reports show that Microsoft's cuts have affected other metaverse projects, as well as employees of the Altspacevr metaverse platform, which announced its closure by March of this year. Since January of this year, Microsoft has been actively investing in AI-based start-ups. Thus, against the backdrop of the crypto winter, it is not surprising that the company shut down a number of non-core projects and refocused on more alternative directions. Most likely, once the crypto industry "rises from the ashes," which will affect the emergence of new start-ups, including in the metaverse, it will be easier for Microsoft to invest in them at an early stage than to spend money and maintain their development. Read next: GBP/USD Pair Rose Sharply Above $1.22, EUR/USD Pair Also Rose| FXMAG.COM Bitcoin As for bitcoin, the pressure on it remains quite high. If BTC drops below $21,700, it may face another major sell-off. We can talk about the return of bulls to the market only after the return and fixation at $22,580, which will return the bullish trend with the prospect of hitting $23,350 and $24,000. The next target is located at $25,034, where a rather large profit-taking and a bitcoin pullback may occur. If the pressure on the trading instrument persists, bulls will have to protect $21,700, a breakthrough of which will be a blow to the asset. That will bring the pressure back on bitcoin, pushing the price down to $20,740. Breaking through this level, the world's first cryptocurrency may plummet deeper to the area of $19,770. The price may hit the highs Buyers of ether are now focused on returning the price back to the resistance of $1,521, which they failed to protect earlier this week. This will be enough to weather the drawdown and prevent a new sell-off in the asset. The price may hit the highs and continue its bullish trend only after getting above $1,604 and $1,690, which will bring the ether back in balance, with the prospect of rising to a high of $1,758. The next target is located in the area of $1,819. If the pressure on the trading instrument remains and the price declines, ether is likely to touch $1,410 and $1320. If these levels are pierced, the trading instrument may reach a low of $1,260, which would be quite painful for cryptocurrency holders.   Relevance up to 12:00 2023-02-15 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/335071
The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

The Momentum Of Bitcoin Is Still Weak And Negative

Sebastian Seliga Sebastian Seliga 15.02.2023 10:35
Crypto Industry News: Cathie Wood, CEO of the visionary investment fund ARK Invest, which holds positions in "future economy" companies, still believes in cryptocurrencies. Last Friday, the fund purchased another tranche of Coinbase shares, even as the cryptocurrency giant's shares fell by almost 85% from a record high of $ 348.98 on November 12, 2021 and the recent settlement between the Kraken exchange and the SEC market regulator, which pulled subsequent price drops. ARK Invest purchased 162,325 shares of Coinbase worth a total of USD 9.2 million, which is the third investment in two months and the fourth since November 2022. In November 2022, the fund purchased shares of Coinbase worth USD 56 million. The company's purchasing history shows that in the previous two rounds, it acquired shares worth $5.8 million and $3.3 million, respectively, and in December, shares worth $11.9 million. The value of Coinbase (COIN) shares has fallen sharply recently due to the controversy surrounding the popular exchange Kraken. After rising to $81 per share on Feb. 2, COIN has seen a massive 95% increase in just one month. Technical Market Outlook: The BTC/USD pair key short-term technical support located at $22,523 and $22,308 had been violated and the bears made a new local low at the level of $21,488. On the lower time frames, like H4, the momentum is still weak and negative, but bulls are tying to bounce towards the level of $22,328 to test it again. The market trades below the short-term trend line resistance (orange line on the chart) and below 50 and 100 MA, but any violation of this levels would have a bullish consequences. A breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. Weekly Pivot Points: WR3 - $22,270 WR2 - $22,017 WR1 - $21,928 Weekly Pivot - $21,765 WS1 - $22,675 WS2 - $21,510 WS3 - $21,322 Read next: Airbnb Posted A Profit Of $1.9. Billion, Air India And Largest Commercial Aircraft Deal In Aviation History| FXMAG.COM Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-02-16 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/312812
Robert Kiyosaki Keeps Calling For The Collapse Of Fiat Money

Robert Kiyosaki Keeps Calling For The Collapse Of Fiat Money

Paolo Greco Paolo Greco 15.02.2023 10:54
Fed, ECB, and BA continue to tighten monetary policy It is even more encouraging to note on the 4-hour TF that bitcoin came very close to the level of $24,350 but was unable to pass it and did not even make a direct attempt to move higher. Although there was no obvious rebound from this point, the cryptocurrency may continue to put its stability to the test. However, we think that it is much more likely that it will fall below $18,500 (at least). This is supported by several global variables at once. First off, as the Fed, ECB, and BA continue to tighten monetary policy, safe assets become more alluring. Second, the QT (quantitative tightening) policy is causing the US money supply to continue to contract, which lowers the amount of potential investments. Remember that throughout the pandemic, Bitcoin was rapidly increasing, not because of the disease itself, but rather because numerous central banks around the world were actively boosting their economies by releasing hundreds of millions or billions of dollars in new money. Since there was constantly more money in the economy, it was obvious that it needed to be used in some way. Some of them chose the market for cryptocurrencies. The situation is entirely different right now. Robert Kiyosaki At the same time, well-known publicist and businessman Robert Kiyosaki keeps calling for the collapse of fiat money, a major global economic catastrophe, and the collapse of the global financial system. The world's central banks are still printing billions of dollars, and their currencies will keep losing value, according to Kiyosaki. Silver will cost $500, gold will rise to $5,000, and bitcoin will reach $500,000. In addition, Kiyosaki predicted that sooner or later, people will stop believing in the dollar and turn to bitcoin as "a currency for people." Remember that the bestselling author of "Rich Dad, Poor Dad" has already predicted the collapse of the world financial system. Both the previous year and this year, he made the same prediction. He does not recall the QT program for some reason, and he is uninterested in the fact that despite bitcoin's existence for 15 years, it has not yet been used as a form of payment by individuals. We think that this is just another attempt to "pump" Bitcoin to make it grow artificially. Remember that many experts who do not personally own bitcoin still think of it as a very dangerous and volatile investing tool. Cryptocurrency owners themselves will undoubtedly always talk about how much it will be worth in the near future. Read next: Airbnb Posted A Profit Of $1.9. Billion, Air India And Largest Commercial Aircraft Deal In Aviation History| FXMAG.COM Bitcoin The bitcoin cryptocurrency has distanced itself from recent highs on a 4-hour time frame by roughly $3,000 and so far does not appear particularly motivated to start growing again. The inflation report released today may have a significant influence on cryptocurrencies. Given that two inflation reports cannot double the value of bitcoin, we believe it will continue to fall. The most recent growth cycle appears to have been an unsuccessful attempt to accelerate growth. The bulls were unable to surpass the crucial $24,350 mark.   Relevance up to 16:00 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/335109
EOS Offers Its Users Nearly Free Transactions

EOS Offers Its Users Nearly Free Transactions

Binance Academy Binance Academy 15.02.2023 13:42
TL;DR EOS is a Layer 1 blockchain designed to address scalability issues first-and second-generation blockchains face. As the longest-running blockchain after Bitcoin and Ethereum in the industry, it has been used by developers to build blockchain applications and ecosystems. This has, in turn, unlocked use cases in the supply chain, decentralized finance (DeFi), and gaming finance (GameFi) sectors, among others. Learn more on Binance.com Introduction EOS was launched in 2018 using open-source technology from Cayman Island-based company B1. In its early days, EOS was known to outperform other projects, thanks to its technical innovation. However, development slowed, and the venture capital pledged to community projects building on EOS fell through. Faced with these challenges, projects on EOS no longer had the resources needed to continue operating on the network. In solidarity, EOS Block Producers reached a consensus on creating a new entity called the EOS Network Foundation (ENF), which is now responsible for efficiently deploying capital and moving EOS forward. EOS Block Producers also passed a proposal to stop locking up tokens — or token vesting — for use by B1, and the EOS Network became a decentralized autonomous organization (DAO).  On September 21, 2022, to achieve absolute code independence, community engineers led by the ENF shifted away from EOSIO 2.0 to Leap 3.1, the C++ implementation of the new Antelope protocol. Today, with its new features, EOS continues to tackle scalability challenges faced by blockchains. What Is EOS? EOS token EOS uses Delegated proof-of-stake (DPoS) as its consensus mechanism. Its native token, EOS, is a utility token used on the network to purchase system resources, participate in EOS governance, transfer value on native applications, and account for value by investors and speculators. Token holders can also stake their idle EOS tokens to receive a percentage of the fees collected by users who wish to use EOS system resources through the EOS PowerUp Model. Introduction to the EOS Blockchain In many real-world situations, scalability is the most significant barrier to establishing public blockchains. Blockchains’ scalability issue typically emerges when a network grows and its transactions increase.  Commonly debated blockchain performance measures such as swaps per second, transaction throughput, and latency are have yet to achieve a sufficient quality-of-service level in many blockchains. Through its aforementioned ecosystem features, EOS aims to address these limitations without compromising network security or developer freedom. A WebAssembly C++ engine At the core of the EOS blockchain resides a high-performance WebAssembly (WASM) engine that executes smart contract code. This engine is designed to meet the demands of blockchain applications that require far more from a WASM engine than web browsers do. High throughput, faster confirmations, and low latency A good user experience demands reliable feedback with a delay of not more than a few seconds. EOS achieves high transaction throughput because its DPoS mechanism need not wait for all the nodes to complete a transaction to achieve finality. This asynchronous style of validation results in faster confirmations and lower latency, i.e., the time taken for a transaction to be confirmed as accurate after it has been initiated.  EVM integration EOS has an Ethereum-compatible Virtual Machine (EOS EVM) that allows Solidity developers on Ethereum to enjoy the EOS blockchain’s scalability and reliability. This includes nearly free transactions for their users, as well as access to the open-source code libraries and tooling to which they are already accustomed.  Permissions through access keys The underlying design of the EOS blockchain incorporates a comprehensive and highly flexible permissions system to create custom permission models for various use cases. Account owners can grant specific authorizations to third parties while having the power to revoke these permissions at any time. EOS supports hierarchical account structures, which enable any user to manage multiple smart contracts under a single parent account. Alternatively, an account owner can divide the authority required to modify a smart contract across various accounts. Flexibility Due to its protocol design, applications deployed on EOS are upgradeable. This means developers can deploy code fixes, add features, and change the application’s logic as long as they have the necessary authority to do so. EOS also allows developers to deploy smart contracts that cannot be modified. These decisions are left to the discretion of EOS developers rather than at the mercy of the protocol. Programmable resource allocation and governance Developers can modify system smart contracts to create customized economic models and governance rules. Since the core layer of code does not always have to be updated for changes to occur, this on-chain mechanism can be modified using system smart contracts. What Makes EOS Unique? Human-readable accounts EOS leverages human-readable accounts to make it easier for users to remember their own accounts, as well as those with which they interact. Instead of long strings of random characters, EOS accounts usually use recognizable addresses such as “Alice.gm”. Affordable transaction fees EOS offers its users nearly free transactions, making it ideal for sending or receiving micropayments. This addresses one of Web3’s greatest barriers to entry, since gas fees on other chains can add significant costs to a single purchase.  Near-instant finality In cryptocurrency transactions, finality refers to the assurance or guarantee that the transactions cannot be reversed or altered after completion. The speed of a blockchain will impact its finality rate, as it determines how quickly transactions are confirmed and finalized. Currently, EOS’s finality is approximately three minutes — much faster than Bitcoin’s 60 minutes and Ethereum’s six minutes.  In contrast with Web2’s finality, however, three minutes is still slow. Therefore, the ENF and its key technology partners — known as the Antelope coalition — launched the Instant Finality initiative to offer users instant and irreversible transaction settlement. Energy efficiency EOS’ DPoS mechanism allows its nodes to validate transactions more quickly and with fewer network resources. Because it does not involve mining like proof-of-work (PoW) networks, the EOS Network is one of the industry’s more energy-efficient blockchains. Base layer insurance  Recover+ (R+ for short) is a cybersecurity portal and rapid incident response program designed to safeguard EOS DeFi projects and their users with bug bounties and white-hat incentives. With a response program, stolen funds can be recovered swiftly in the event of malicious hacks.  On November 5, 2021, blockchain lending platform Pando Rings was exploited for over $70m. While Pando Rings is not an EOS-based application, the attacker stole over $2m in EOS tokens. Thanks to this program, the Recover+ team was able to intervene and freeze the stolen funds, thereby protecting EOS DeFi users. EOS Working Groups Since the ENF was established in 2021, it has funded several EOS Working Groups for ecosystem improvements. It has also recommended a course of actionable items through “Blue Papers”, which offer suggestions for enhancements in several areas, including core infrastructure, APIs, SDKs, DeFi, and security analysis tooling. EOS Network Ventures EOS Network Ventures (ENV) is a $100m venture capital fund whose mission is to attract capital investment and deploy it to benefit the EOS Network. It also makes strategic equity and token-based investments into tech start-ups in the Web3 space. ENV’s scope includes — but is not limited to — GameFi, the metaverse, eSports, NFTs, and fintech. EOS Network Foundation The EOS Network Foundation (ENF) is a community-led non-profit founded by Yves La Rose in September 2021. Its mission is to identify opportunities for investment, seed funding, and collaboration in pursuit of Web3 innovation. To do so, the ENF coordinates public goods funding and non-financial support for the growth, development, and worldwide adoption of the EOS Network. Since its establishment, multiple public goods programs have been organized and funded, contributing to key EOS developments. On November 9, 2022, the ENF announced that it had initiated a proposal to launch a $100m ecosystem fund to be managed by ENV. Closing Thoughts As the longest-running blockchain after Bitcoin and Ethereum, EOS has overcome past challenges and adapted to present demands since its inauguration. It continues to move towards a robust system, using its performance, flexibility, and scalability to create native Web3 GameFi experiences for both developers and end-users. Further Reading What Is Layer 1 in Blockchain? Proof of Work (PoW) vs. Proof of Stake (PoS) What Is Proof of Work (PoW)?
FX Markets React to Rising US Rates: Implications and Outlook

The Trend Remains Positive But It May Be Stalling

Craig Erlam Craig Erlam 15.02.2023 14:05
Equity markets are poised to open a little softer on Wednesday following similar moves in Asia overnight as investors weigh up the latest setback in US data. The inflation report really needed to over-deliver after the red-hot labour market figures earlier in the month and it simply didn’t do it. The trend remains positive but it may be stalling and that won’t give the Fed any encouragement to stop raising interest rates. The next 25 basis point hike was never really in doubt anyway but now markets are factoring in much more, including another in May and a good chance of one more in June. What’s more, those rate cuts that were priced in for the end of the year only a couple of weeks ago are no more. Markets are pricing in the possibility of one but the anticipated year-end rate is now significantly higher, as is the terminal rate. A long way to go UK inflation may still be far too high but the January CPI report has offered some cause for optimism, slipping faster than expected on both a headline and core basis. The headline number remains above 10% so there’s still a very long way to go but favourable base effects and lower energy prices should go a long way in driving this much lower over the course of the year. The BoE may be particularly encouraged by the core decline as this is where we’re likely to see stubbornness but we must remember that this is just one release and there will likely be many setbacks over the course of the year. Correction run its course? Bitcoin enjoyed a decent rebound on Tuesday despite broader market sentiment being more challenging on the back of the US inflation report. We continue to see resilience in cryptos which is very encouraging despite regulatory headlines not being particularly good. Of course, it’s now retraced back to a level that was a notable area of support in late January and early February before it corrected and we’ll soon see whether that’s become a bearish resistance zone or the corrective move has run its course. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Albemarle Will Be A Proxy For What We Can Expect From Lithium Companies' Earnings, Tesla Maintains Its Lofty Production Targets

Tesla Will Make Supercharger Network, Visa Will Allow The Use Of Cryptocurrencies To Settle Transactions

Kamila Szypuła Kamila Szypuła 16.02.2023 11:46
Cryptocurrencies are becoming more and more popular. Visa takes the future of cryptocurrency as a means of payment very seriously. Tesla is the most popular manufacturer of electric cars, but it creates stations for non-Tesla customers. In this article: Visa and crypto Highest level since mid-August 2022 America electric vehicle charging network Visa and crypto The implementation of cryptocurrencies into everyday life is progressing much faster. Companies and financial institutions are aware that revolution and payments are just taking place and if someone is left behind, they may suffer the consequences, e.g. bankruptcy. Visa, an international payment technology company, announced that it will allow the use of cryptocurrencies to settle transactions in its payment network. This is a pilot programme. Visa is another international financial institution that is opening up to the world of cryptocurrencies. The global leader in payment technology begins cooperation with Crypto.com. You will be able to pay with a Visa Crypto debit card without having to convert funds from digital currency to traditional. The payment card provider announces that it intends to make its system available to fintech companies and neobanks dealing with cryptocurrencies. Cooperation with Crypto.com is another signal sent by Visa that it takes the future of cryptocurrency as a means of payment very seriously. #cryptonews: @Visa to launch #Bitcoin and #crypto cards in the UK and 40 other countries 🚀 — CoinMarketCap (@CoinMarketCap) February 16, 2023 Read next: Apple Is Facing Multiple Lawsuits And Enforcement Actions| FXMAG.COM Highest level since mid-August 2022 The cryptocurrency market is also very volatile. Coin prices could double before falling back to where they started, and it could all happen in one day. Bitcoin is the most popular currency among cryptocurrencies, which is why its movement is closely monitored. The price of Bitcoin on Thursday reached its highest level since mid-August 2022. Last year, nearly $1.4 trillion disappeared from the cryptocurrency market after the turmoil that brought bankruptcies, project and company failures. All this was crowned with the collapse of the large FTX exchange. Rising Federal Reserve interest rates to fight inflation have also weighed heavily on crypto markets. Bitcoin is also closely correlated with the stock markets, and in particular with the high-tech Nasdaq index. Bullish sentiment in risky assets was supported by the opinion that the economic slowdown may not be as bad as expected and the Fed may slow down the pace of interest rate hikes. Cryptocurrency markets rallied on Thursday, rejecting the US government's tougher regulatory stance.The value of the entire cryptocurrency market increased by over $84.8 billion in 24 hours. Bitcoin surges 11% despite U.S. crackdown, as crypto market gains $84 billion in value https://t.co/MbkpNzGrVt — CNBC (@CNBC) February 16, 2023 America electric vehicle charging network In late 2024, Tesla will open 3,500 new and existing Supercharger stations along highway corridors to non-Tesla customers, as part of a $7.5 billion federal program. The move could help Tesla become a universal "gas station" of the EV era and risk losing its competitive advantage. WATCH: Tesla's U.S. charging network will be available to other electric vehicle brands for the first time as part of a $7.5 billion federal program to expand the use of EVs to cut carbon emissions, according to the Biden administration https://t.co/npz0Jh7wmR pic.twitter.com/l6QWJ84DYi — Reuters Business (@ReutersBiz) February 16, 2023
The G20 And IMF Are Already Preparing Their Crypto Regulation

All Cryptocurrencies From The Top Ten Showed Strong Gains

InstaForex Analysis InstaForex Analysis 17.02.2023 14:01
On Friday, the flagship cryptocurrency started the trading day with an increase. At the time of writing, the price of BTC is trading at $23,749. In the past 24 hours, the value of the asset jumped by 8.37%. According to CoinMarketCap, over the past 24 hours, Bitcoin was trading between the low of $23,460 and the high of $25,134. On Thursday, the asset tested $25,200 for the first time since mid-June 2022. The key reason for bullish sentiment in the cryptocurrency market was the permanently declining volatility of securities and bonds, oil prices, as well as the weakening US dollar. Meanwhile, crypto investors continue to analyze the data published on Tuesday on the US Consumer Price Index (CPI). Thus, according to the US Department of Labor, the index rose by 6.4% from last month compared to January 2022 level. Experts on average predicted the January figure to fall to 6.2% from December's 6.5%. Despite the fact that the final result was worse than analysts' expectations, the US stock market began to increase followed by the crypto market. Yesterday, an important support factor for the cryptocurrency market was also the strong results of the last trading session in the US stock market. Thus, on Wednesday, The Dow Jones Industrial Average index rose by 0.11%, the S&P 500 index increased by 0.28%, and the NASDAQ Composite gained 0.92%. Since the beginning of 2022, analysts have emphasized the high level of correlation between the US stock market and digital assets against the background of the tense expectations of both the consequences of the geopolitical conflict in eastern Europe and the further steps of the US Federal Reserve. Earlier, the experts of the investment company Arcane Research have already stated that the correlation between BTC and technology securities has reached the highest level since July 2020. In addition, economists of TradingView said that the relationship of the cryptocurrency market with the US stock market in the fourth quarter of 2022 reached 70%. Read next: EUR/USD And AUD/USD Are In Downward Trend, USD/JPY Hit 135.00, GBP/USD Is Below $1.20| FXMAG.COM Altcoin market Ethereum, Bitcoin's main competitor, also started Friday with growth. At the time of writing, the asset is trading at $1,665. As for the cryptocurrencies of the top 10 by market cap, in the past 24 hours, Polygon showed the best performance, gaining 4.41%. Meanwhile, Dogecoin was the top loser and lost 4.07%. At the end of last week, all cryptocurrencies from the top ten, with the exception of some stablecoins, showed strong gains. Polygon added 13.35% and topped the rank. According to CoinGecko, the world's largest aggregator of digital asset data, over the past 24 hours, among the top 100 most capitalized digital assets, first place in the rise list went to Filecoin token, which grew by 16.18%, while Frax Share lost 10.31% and hit the bottom of the rankings. At the end of last week, Frax Share, dropping by 15.03%, was also the worst-performing digital asset in the top 100 strongest digital assets, while Astar increased by 48.61%, demonstrating the strongest growth. According to CoinGecko, as of Friday morning, the total market capitalization of cryptocurrencies was able to consolidate above the important key $1 trillion level and stands at $1.039 trillion. Despite this, it has fallen by more than three times since November 2021, when the figure exceeded $3 trillion. Relevance up to 10:00 2023-02-18 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/335449
Kiwi Faces Depreciation Pressure: RBNZ Expected to Hold Rates Amidst Downward Momentum

Fed and ECB seem poised to take interest rates even further into restrictive territory

Ed Moya Ed Moya 18.02.2023 09:25
Wall Street appears to be closing out the week on a down note as investors become rattled over the prospect of more tightening by the Fed. It isn’t just Fed expectations that are rising, traders are also expecting the ECB to send rates much higher. It looks like global growth will definitely take a harder hit as monetary policy gets even more restrictive over the next few months. More from the Fed Fed’s Bowman reiterated inflation is still too high and that they need to continue hikes until we see more progress. She did note the Fed is seeing a lot of inconsistent data in economic conditions. It doesn’t look there is a chance that the Fed will be holding anytime soon, which should keep sending yields higher at the short-end of the curve. Fed’s Barkin however wants to remain flexible and favors a 25 basis point increase. He acknowledges that he is not ready to declare victory on inflation. FX Friday’s sell everything trade initially sent the dollar higher as risk aversion appears to be running wild as Fed tightening jitters make it more likely the US economy is recession bound. The latest round of hawkish Fed speak from Bullard, Mester, and Bowman have swaps pricing rate hikes at the March and May meetings. The dollar pared earlier gains as yields came in around the European close and after Fed Barkin’s comment that he favors 25bp rate hikes for flexibility. Oil Crude prices are falling as supplies are plentiful and as global growth concerns return as the Fed and ECB seem poised to take interest rates even further into restrictive territory. The belief that OPEC+ can keep prices supported wherever they want is waning as global growth outlooks take a turn for the worse. As long as supplies seem ample, OPEC+ will be playing catchup to keep the market tight. Oil is seeing steady selling pressure and the true test will be if prices can break below the $72.00 a barrel level. Gold Gold prices got crushed this week as the bond bears are fully in control now that the market is pricing in more Fed rate hikes. Gold’s vulnerability to further downside however should be limited as central banks appear poised to increase their bullion holdings. Global recession risks are returning and that should lead to some safe-haven flows for gold. Gold should have major support ahead of the $1800 level, which means we might be stuck in a range until we have clearer signs if inflation is going to continue to accelerate here. Crypto Bitcoin is lower on the day as every risky asset sold off on fears of more aggressive Fed tightening and rising recession risks. After Bitcoin tested the $25,000 level and failed to extend higher, many active traders locked in profits. Appetite for risky assets might struggle over the short-term, which could support a Bitcoin consolidation as long as a regulatory crackdown does not take down a key stablecoin or crypto company. Many crypto traders are paying close attention to the reports that Binance might exit relationships with US companies as pressure from regulators intensifies. Binance CEO Changpeng Zhao (CZ) tweeted, “Given the ongoing regulatory uncertainty in certain markets, we will be reviewing other projects in those jurisdictions to ensure our users are insulated from any undue harm.” Binance is the world’s largest exchange and if it abandons key US relationships, that is a major setback for the cryptoverse. This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Summary Of The Situation Of Equity Markets And Bitcoin

Summary Of The Situation Of Equity Markets And Bitcoin

Craig Erlam Craig Erlam 19.02.2023 11:05
Equity markets are ending the week in the red after finally falling victim to the persistent disappointment of US economic data on Thursday. It’s taken a lot but it would appear investors’ eternal optimism is being shaken, with the latest PPI figures finally driving the message home that bringing the economy in for a soft landing will be extraordinarily challenging and there’ll likely be plenty of turbulence along the way. In reality, the message should have sunk in much sooner but investors were seemingly so convinced that these were just blips in the data that they failed to see how quickly they were stacking up. Don’t get me wrong, I’m still of the view that the data will improve again but I’m not so willing to turn a blind eye to what it’s telling us now. And most importantly, neither is the Fed which has been less willing to get carried away with what came before. Suddenly the topic of conversation has changed from one more 25 basis point hike and then two cuts later in the year, a few weeks back, to perhaps reverting back to 50 in March and hiking by another 75 in total. It was always going to be a rollercoaster ride this quarter and maybe next and the first seven weeks of the year have been just that. Taking off? Bitcoin is in retreat at the end of the week, not immune it seems to the sharp shift in risk appetite throughout the markets. That comes after an immense rally earlier this week that saw it hit an eight-month high on Thursday. While the risk element will no doubt be a key factor, that the correction is occurring in the $24,500-$25,500 zone suggests to me that there’s a coincidental element to it as well, as we could have expected to see some profit-taking around these levels regardless. The risk mood may have just helped that along. Regardless, bitcoin bulls will no doubt be excited by recent developments in the price and may feel more optimistic than they have since 2021. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

The Two Malicious Files Have Been Actively Scouring The Internet And Stealing Cryptocurrencies From Unwary Investors

Sebastian Seliga Sebastian Seliga 20.02.2023 11:22
Crypto Industry News: Malwarebytes has drawn attention to two new computer malware distributed by unknown sources that are actively targeting cryptocurrency investors in the desktop environment. As of December 2022, the two malicious files in question - the MortalKombat ransomware and the Laplas Clipper malware - have been actively scouring the Internet and stealing cryptocurrencies from unwary investors, as revealed by threat research team Cisco Talos. Campaign casualties are mostly in the US, with smaller percentages of victims in the UK, Turkey and the Philippines. The malware works together to hijack the information stored in the user's clipboard, which is usually a string of letters and numbers copied by the user. The infection then detects the wallet addresses copied to the clipboard and replaces them with another address. The attack takes advantage of users' insufficient caution about the sender's wallet address that could send cryptocurrencies to the attacker. Without a clear target, the attack includes individuals as well as small and large organizations. Once infected with MortalKombat ransomware, it encrypts user files and displays a ransom note with payment instructions. As explained by Malwarebytes, the "tag-team campaign" begins with a cryptocurrency-themed email containing a malicious attachment. The attachment launches a BAT file that helps download and run the ransomware when opened. On the other hand, as ransomware victims continue to reject extortion requests, attackers' revenue from ransomware fell 40% in 2022 to $456.8 million. Technical Market Outlook: The BTC/USD pair had made a new local high at the level of $25,257 and reversed sharply lower. The pull-back did not last for long and the market is now consolidating the recent gains around the level of $24,500. A sustained breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. The strong and positive momentum on daily time frame chart supports the short-term bullish outlook for BTC, however, the market is coming off the extremely overbought conditions on H4 time frame chart. Weekly Pivot Points: WR3 - $25,667 WR2 - $24,967 WR1 - $24,709 Weekly Pivot - $24,259 WS1 - $24,000 WS2 - $23,550 WS3 - $22,841 Read next: Twitter And Elon Musk Faced A Growing List Of Claims| FXMAG.COM Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 10:00 2023-02-21 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313329
Crypto: according to Craig Erlam, there seems to be a gap between reality and prices

The Government Of El Salvador Opens A "Bitcoin Embassy" In The United States

Sebastian Seliga Sebastian Seliga 21.02.2023 08:46
Crypto Industry News: The world's largest cryptocurrency, Bitcoin, once again brings countries together as the government of El Salvador opens a "Bitcoin Embassy" in the United States. El Salvador, which became the first country in the world to approve Bitcoin as legal tender in 2021, is expanding its Bitcoin strategy through a new partnership with the Texas government. The intergovernmental cooperation aims to create a Bitcoin Embassy or El Salvador representative office in Texas to work on new projects that will promote BTC adoption. Milena Mayorga, El Salvador's ambassador to the United States, announced the news in a statement on Twitter. "During my meeting with Texas Deputy Secretary of the Government Joe Esparza, we discussed opening a second Bitcoin Embassy and expanding trade and economic exchange projects," Mayorga said. The latest initiative comes months after El Salvador opened its first Bitcoin embassy in the southern Swiss city of Lugano in October 2022. As part of a joint effort, the two pro-crypto jurisdictions have begun work to establish a physical government presence to promote collaboration in educational institutions and research related to Bitcoin. According to former Blockstream chief strategy officer Samson Mow, the Bitcoin embassy phenomenon is another step towards Bitcoin acceptance by nation states and cities. He said such initiatives lead to cooperation between countries to develop new initiatives, such as creating alliances between places that have adopted Bitcoin. Technical Market Outlook: The BTC/USD pair had made a new local high at the level of $25,257 and reversed sharply lower to make a local pull-back. The pull-back did not last for long and the market is now consolidating the recent gains around the level of $24,500. A sustained breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. The strong and positive momentum on daily time frame chart supports the short-term bullish outlook for BTC, however, the market is coming off the extremely overbought conditions on H4 time frame chart. Weekly Pivot Points: WR3 - $25,667 WR2 - $24,967 WR1 - $24,709 Weekly Pivot - $24,259 WS1 - $24,000 WS2 - $23,550 WS3 - $22,841 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 2023-02-22 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313471
Upcoming Corporate Earnings Reports: Ashtead, GameStop, and DocuSign - September 5-7, 2023

PMI report showed businesses are becoming less pessimistic, Bitcoin is trading close to $25,000

Craig Erlam Craig Erlam 21.02.2023 14:09
It hasn’t been the most thrilling start to the week but the good news is that it should improve from here as the US rejoins and the economic calendar fills out. We were basically treading water on Monday which is often the case on a US bank holiday. The fact that the calendar was as thin as it was elsewhere naturally doesn’t help and it may be no bad thing either. We’ve become so accustomed to relentless action in the markets this past year in particular that a day of calm can be a good thing. But don’t expect it to last. This week may not be as all-action as others we’ve experienced this month but there is still plenty for investors to get their teeth stuck into. Today is littered with economic releases throughout, with the PMIs being a key feature of that. At a time of such uncertainty over inflation, interest rates, and the economy, these forward-looking business surveys carry extra weight. And what’s more, they’re expected to show businesses are becoming less pessimistic which would be a small win but a win nonetheless. That said, the Japanese manufacturing PMI was expected to do just that and instead dipped much further into contraction territory. The decline was driven by lower output, new orders, and new export orders; once again indicating waning global demand and trade. The services survey was much better but that is being driven by improved tourism as restrictions were removed, and government support. All in all, there are more concerning signs than promising ones. Unnerved The RBA minutes from earlier this month highlighted how unnerved policymakers are by recent inflation developments, with a pause in tightening not even discussed despite that at one stage appearing to be where the central bank was heading. In fact, the debate centered around whether there was a need to accelerate the hiking cycle which may unsettle investors that have become more relaxed on the belief that the end is near. The message, often not heard, from policymakers around the world has consistently been that there’s more to do and that rates may need to stay higher for longer but investors have not always been receptive to that. That seems to be changing and a 50-basis point hike would have very much driven that home but the RBA instead opted for 25 this time, backed by the belief that monthly meetings allow for a more gradual exit. ​ Can bitcoin overcome major resistance? There is no shortage of optimism in bitcoin this year and it’s continuing to push higher again today. The cryptocurrency is trading close to $25,000, a huge test considering the scale of recovery we’ve seen in the last seven weeks. The region around $24,500-$25,500 was big on the way down so it will be a big psychological test this time around, too. But with bitcoin up around 50% already this year, you have to wonder how much further it can go. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Russia will suspend participation with the new START treaty and that they would test nuclear weapons if the US does it first

Russia will suspend participation with the new START treaty and that they would test nuclear weapons if the US does it first

Ed Moya Ed Moya 21.02.2023 14:25
US stocks are declining after retail earnings suggest margin worries are here and it will only get worse as the Fed is likely to deliver more tightening into early summer. Treasury yields are surging here as a tight labor market will force the Fed to do more tightening.  Retailer earnings are suggesting it is going to be a tough year ahead and that should keep the pressure on stocks.  Geopolitics Russia’s Vladimir Putin’s State of the Union speech suspended participation in a key nuclear arms pact with the US.  Putin said, Russia will suspend participation with the new START treaty and that they would test nuclear weapons if the US does it first. Putin’s speech comes three days before the one-year mark of the Russian invasion of Ukraine. He added that Russia will push farther if longer-range arms are supplied. Ukrainian officials have voiced their concerns that they expect the Russians to increase their offensive.  China China is also pushing back against calls that say Taiwan is next.  China Foreign Minister Qin Gang said, “We urge certain countries to immediately stop fueling the fire, stop shifting blame to China and stop touting Ukraine today, Taiwan tomorrow.” China’s economic outlook if fragile right now and they are trying to avoid any major obstacles as their reopening from COVID continues. Home Depot Home Depot shares tumbled after a tight labor market is making them invest an additional ~$1 billion in annualized compensation for frontline, hourly associates. Wall Street initially could only focus on the added expenses and not the mixed earnings and dividend boost.  While most companies are announcing cost-saving measures, Home Depot is in position that will require them to spend more.  The EPS beat of 3 cents and slight revenue miss of $35.83 billion was accompanied by comparable sales of -0.3%, not as bad as the consensus estimate of -0.87%.  The world’s largest home improvement retailer is going to have a margin problem over the couple of quarters and that could get uglier if the housing market does not bottom out soon.  Walmart Walmart shares tumbled despite a top and bottom line beat as their EPS guidance fell short of the analyst estimates.  Walmart’s earnings slides noted that “general merchandise sales reflected softness in discretionary categories including toys, electronics, home, and apparel.” Walmart’s poor outlook after a strong holiday season is having many investors abandon ship here as rough waters are clearly ahead.  Walmart had the largest sales volume in its history in December. Oil Crude prices are struggling as global growth concerns return after soft European manufacturing activity data is accompanied with a surge in global bond yields. Central banks globally are about to take policy into even more restrictive levels and that is countering China’s reopening momentum. WTI crude is finding a home between the mid-$70s and the $80 a barrel level.      Read next: The Pound Gained After The Publication Of PMI Reports, Euro Is Below 1.07, USD/JPY Pair Is Above 134.50| FXMAG.COM Gold/FX Gold prices are weakening as investors await the Fed Minutes that could confirm the bank has more work to do. The dollar is getting a bid here as more traders start to price in 75 basis points in more tightening by the Fed. If the bond market selloff gets uglier, gold might soften more, but it probably won’t drop as much as equities.  Rising geopolitical risks will likely drive some flows towards bullion and Wall Street is getting close to pricing in peak Fed tightening.  Bitcoin Bitcoin traders appear to be ignoring a laundry list of bearish macro drivers that include; a return of the stronger dollar as the bond market rally returns, downward pressure on stocks as investors price in more Fed rate hikes, and on worries that stablecoin regulation could put further pressure on cryptos.  It appears that Bitcoin’s correlation with most risky assets is changing.  The crypto winter that saw prices collapse from $68,911 to $15,485 appears to have priced in enough of the bad news.  Bitcoin is still respecting the key $25,500 level, but a break could open the door for momentum traders to target a bigger move higher. Initial resistance would come from the $28,000 level, but most traders may have their eyes for the psychological $30,000 level.  This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Bitcoin needs to stay above $29k by the end of today's trading session to strengthen its positions and continue moving towards $30k says InstaForex's Petrenko

The Bitcoin Had Made A New Local High At $25,257

Sebastian Seliga Sebastian Seliga 22.02.2023 08:46
Crypto Industry News: It has been several days since Kraken, one of the largest cryptocurrency exchanges in the world, stopped providing the staking service to US clients and was forced by the SEC to pay a USD 30 million penalty. Former Kraken CEO Jesse Powell disagrees with the decision of the US financial market regulator. In his opinion, the authorities allow fraudsters to operate and hinder the functioning of honest entrepreneurs. Although it sounds like a typical complaint of a businessman punished by officials, there is something to it. After all, the FTX exchange - although built on rotten foundations - operated on the market for a few years. Politicians willingly accepted donations from Sam Bankman-Fried, and the company's CEO himself met with important people from the White House. Powell sees all of this as a cynical plan to destroy the capital that has been invested in the cryptocurrency ecosystem. This will stop blockchain adoption and at the same time enable attacks on honest entities. This chilling theory, however, does not come out of thin air. It is the result of previous events. Powell and Caitlin Long, CEO of Custodia Bank, warned regulators about some suspicious transactions in the cryptocurrency industry. Technical Market Outlook: The BTC/USD pair had made a new local high at the level of $25,257 and after a short period of consolidation reversed sharply lower to make a local pull-back. A sustained breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. However, the bears had manage to break below the short-term trend line support and are heading lower towards the 38% Fibonacci retracement of the last wave up located at $23,800. In a case of a breakout below this retracement level, the next target for the corrective cycle are $23,346 (50% retracement) and $22,868 (61% retracement). The weak and negative momentum on H4 time frame chart supports the short-term bearish outlook for BTC. Weekly Pivot Points: WR3 - $25,667 WR2 - $24,967 WR1 - $24,709 Weekly Pivot - $24,259 WS1 - $24,000 WS2 - $23,550 WS3 - $22,841 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.     Relevance up to 08:00 2023-02-23 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313599
More declines of Bitcoin to US dollar should force the altcoins to drop as well

A Large Outflow Of Bitcoin Eliminates The Possibility Of A Quick Sale And Reduces The Pressure On The Price

InstaForex Analysis InstaForex Analysis 22.02.2023 14:19
The market was looking forward to a new trading week after a strong bullish momentum on Friday. As a result, Bitcoin reached the $24.5k level and gradually approached the final consolidation above $25k. However, following the results of February 21, the $25k level remains untouched, and BTC is declining more often. Bitcoin fails to gain a foothold above $25k rapidly, and given the increasing tension in the stock market, the asset risks not having time to consolidate above the key resistance level. At the same time, it is too early to talk about the end of the BTC upward trend, and the asset has every chance to move closer to the $26k–$27k area. Fundamental background The information campaign from America's largest banks regarding the stock market continues. According to Morgan Stanley analysts, the S&P 500 stock index may lose up to 26% of capitalization in the coming months and bottom around $3,000. BBG, who are also skeptical about the short-term outlook for SPX, are warning of a likely Bitcoin pullback. Experts explain the decline in the price of cryptocurrency by an increased correlation with stock indices and a likely tightening of the Fed's monetary policy. Meanwhile, the SPX index formed a large red candle and reached the lower boundary of the $4,000 support zone. The technical metrics of the asset on the daily chart indicate a continuation of the downward movement of the stock instrument. At the same time, Bitcoin remained stable against the backdrop of the SPX index but eventually confirmed the correlation with the index and also moved to a local decline. The results on February 21 prove that the relationship between BTC and SPX is still strong, and with a high degree of probability, the cryptocurrency will follow the stock index. BTC/USD Analysis Meanwhile, CryptoQuant analysts are recording a large outflow of BTC coins from cryptocurrency exchanges. This confirms the fact that the period of accumulation continues in one form or another. Also, a large outflow of BTC eliminates the possibility of a quick sale and reduces the pressure on the price. Glassnode analysts also note that more than 50% of all BTC in circulation have not moved for at least two years. This confirms the fundamental value of the cryptocurrency and the long-term faith in the asset of most investors. At the same time, it is reported that the number of "whale" addresses with a balance of 1,000 BTC has reached the 2019 low. This is a negative signal, as large investors are the main catalyst for Bitcoin's bullish rally, as happened in January 2023. It may also indicate a lack of new big players in the crypto market, which is also bad for the industry's capitalization. Over the past six days, Bitcoin has retested the $25k level five times. In addition to the persistence of the bulls, it is worth noting the dynamics of increasing price lows, which may eventually lead to the formation of a wedge and its bullish breakdown. According to the results of February 21, buyers failed to gain a foothold above $25k, and the price, as expected, went to retest the lower border of the fluctuation area. The $23.8k–$24.1k area is a powerful support zone, and until BTC makes its bearish breakdown, the bullish idea remains relevant. Bitcoin technical indicators on the 1D timeframe point to a decline: RSI, stochastic and MACD are moving in a downward direction. The 1H chart shows the first signs of buying activity. The stochastic oscillator tried to form a bullish crossover, which indicates an increase in volumes near $24k. Results Bitcoin showed weakness and followed the SPX index in a downward direction. In addition to dependence on the stock index, the downward movement of the cryptocurrency was influenced by an unsuccessful retest of the $25k resistance for several days in a row. Most likely, a local consolidation and resumption of the assault on the $25k–$25.2k area will happen in the near term. A further decline in SPX may have a negative impact on the cryptocurrency, but as long as the asset holds the $23.8k level, the bullish idea will be relevant.     Relevance up to 09:00 2023-02-23 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/335792
The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

Bitcoin Hit $25,200 For A While, But The Asset Failed Once Again

Sebastian Seliga Sebastian Seliga 23.02.2023 13:31
Crypto Industry News: The three largest stock market indices in the US fell by 3% yesterday. At the same time, Bitcoin failed to break the $25,000 barrier again, and the subsequent rejection brought it back below $24,000. Most altcoins suffered even more, with MATIC, OKB, SOL and a few others down around 7%. The last few days, more precisely since the end of last week, have been characterized by high volatility for the main cryptocurrency. On Thursday, it surged to $25,000 and topped the high for a six-month high before dropping just as quickly to below $23,500. The next two attempts to cross $25,000 occurred in the last few days, and the last one was yesterday. BTC hit $25,200 for a while, but the asset failed once again. The subsequent rejection sent the value down, with Bitcoin trading below $24,000 today. This leap came during the Wall Street Crash. All three major US stock indexes closed in the red. The S&P 500 and Dow Jones were down 2% on the day, while the Nasdaq Composite was down over 3%. The recent drop in the price of BTC has lowered the asset's market capitalization to $465 billion. Its lead over altcoins increased slightly to 42.6%. Technical Market Outlook: The BTC/USD pair had made a new local high at the level of $25,257 and after a short period of consolidation reversed sharply lower to make a local pull-back. A sustained breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. However, the bears had manage to break below the short-term trend line, but then bounced again from the 38% Fibonacci retracement of the last wave up located at $23,800. In a case of a breakout below this retracement level, the next target for the corrective cycle are $23,346 (50% retracement) and $22,868 (61% retracement), but for now the bulls are testing the broken trend-line from below. The weak and negative momentum on H4 time frame chart supports the short-term bearish outlook for BTC. Weekly Pivot Points: WR3 - $25,667 WR2 - $24,967 WR1 - $24,709 Weekly Pivot - $24,259 WS1 - $24,000 WS2 - $23,550 WS3 - $22,841 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-02-24 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313792
The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

The Strong And Positive Momentum On Daily Time Frame Chart Supports The Short-Term Bullish Outlook For Bitcoin

Sebastian Seliga Sebastian Seliga 17.02.2023 09:31
Crypto Industry News: The Russian State Duma has just passed a law that will allow financial services markets to combine their activities with blockchain platforms that issue or exchange digital financial assets (DFA), as well as act as buyers of their own securities, according to an Interfax report. Law No. 221502-8 was submitted for consideration to the Russian parliament on October 26, 2022 by a group of deputies headed by the head of the financial market commission Anatoly Aksakov and senator Nikolai Zhuravlev. According to the Russian Law of 2020 "On Conducting Financial Transactions Using Financial Platforms", financial market operators are not allowed to perform the activities of a credit institution, with few exceptions. The passage of this bill adds several new exceptions that will allow financial services markets to participate more in DFA. Currently, there are seven organizations in the register of authorized operators of financial platforms of the Central Bank or Russia (CBR): The Moscow Exchange platform finuslugi.ru, VTB Registrar, Infinitum, Sravni.ru, Open Financial Marketplace, Open Digital Solutions and Digital Technologies. The CBR register of IT system operators authorized to issue DFA includes four companies: Atomyze, which is partly owned by Interros billionaire Vladimir Potanin, Sberbank, Lighthouse, a fintech company that is currently developing a digital financial ecosystem with Transmashholding, and A-Token Alfa Bank. The Act also allows issuers of securities and persons acting on their behalf to act as buyers for the management of digital exchanges. Until now, only consumers of financial services could be buyers of securities. Technical Market Outlook: The BTC/USD pair had violated the short-term trend line resistance and made a new local high at the level of $25,257 and reversed sharply lower. A sustained breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. The strong and positive momentum on daily time frame chart supports the short-term bullish outlook for BTC, however, the market is coming off the extremely overbought conditions on H4 time frame chart. Weekly Pivot Points: WR3 - $22,270 WR2 - $22,017 WR1 - $21,928 Weekly Pivot - $21,765 WS1 - $22,675 WS2 - $21,510 WS3 - $21,322 Read next: USD/JPY Is Trading Close To 134.00, EUR/USD Is Remaining Above $1.07| FXMAG.COM Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-02-18 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313204
BRICS Summit's Expansion Discussion: Impact on De-dollarisation Speed

All Fed Policy Makers Supported Further Tightening Of Monetary Policy

Craig Erlam Craig Erlam 23.02.2023 14:03
Equity markets are heading for a positive start to the session, paring Wednesday’s gains as investors digest the latest Fed minutes. The usual caveat applies to the minutes, being that a lot of time has passed, and to a great extent, the contents of them are either outdated or known. Still, as we saw on Wednesday, that doesn’t always matter and markets can still respond accordingly. The starkest takeaway was arguably that some policymakers could have gotten behind another 50 basis point increase and all backed further tightening ahead. While that aligns with some commentary we’ve had recently, the meeting took place before the jobs and inflation reports, and the retail sales data for January, all of which were very strong. So either policy makers came to this judgment in anticipation of those reports or they did it despite a series of softer prints that had convinced investors that the end of the tightening cycle was just around the corner. While I do take Fed commentary with a relative pinch of salt – as I believe the plan has always been to remain hawkish and keep financial conditions tight until the last minute and then quickly pivot once success is all but assured – the latter may well indicate that at least a few hikes are planned and any hope of cuts this year are, as communicated, slim. That could be the difference between a recession and a soft landing, although again, I take these warnings with a large pinch of salt. If January proves to be a blip in the data due in part to warmer weather – and the fact that bumps in the road back to 2% were always highly likely – we could quickly see market pricing shift once more. And we’ll get another full round of data before the next meeting which will give us a much better idea of whether this is a blip or a trend. Growing belief Bitcoin is continuing to show remarkable resilience as it trades up 2% today and back above $24,000. Don’t get me wrong, it’s not alone in doing so, we’re seeing similar in equity markets although to a lesser extent. There’s clearly belief returning to crypto markets and some confidence that the darkest days are behind it. If the newsflow can remain onside then that could prove to be the case and a break of $24,500-$25,500 could further fuel that belief. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Bitcoin needs to stay above $29k by the end of today's trading session to strengthen its positions and continue moving towards $30k says InstaForex's Petrenko

Galaxy Digital has invested in an institutional cryptocurrency storage platform

Sebastian Seliga Sebastian Seliga 24.02.2023 10:38
Crypto Industry News: Galaxy Digital has invested $44 million in an institutional cryptocurrency storage platform to leverage its own asset storage and management capabilities. Mike Novogratz's cryptocurrency investment firm has completed the acquisition of GK8. The entity has developed its own patented cryptocurrency storage technology to provide secure asset management to institutional users. The website specializes in providing cold vault technology, which allows you to perform transactions without an internet connection. Its internal MPC provides the ability to automate transactions, and the service also provides network access to decentralized finance (DeFi), tokenization, NFT, and trading. The statement from Novogratz emphasized that the main reason for the acquisition is the increased demand from investors for custody services. GK8's storage solutions and wallet technology will be incorporated into Galaxy Digital's upcoming GalaxyOne brokerage platform. As part of the business deal, Galaxy will add an office in Tel Aviv to its organization and nearly 40 GK8 employees will become part of a wider group. GK8 founders Lior Lamesh and Shahar Shamai will remain in office to lead Galaxy's security technology portfolio. Technical Market Outlook: The BTC/USD pair has been rejected from 50 MA on H4 time frame chart and is trading lower in low volatility conditions. A sustained breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. However, the bears had manage to break below the short-term trend line, but then bounced again from the 38% Fibonacci retracement of the last wave up located at $23,800. In a case of a breakout below this retracement level, the next target for the corrective cycle are $23,346 (50% retracement) and $22,868 (61% retracement), but for now the bulls are testing the broken trend-line from below. The weak and negative momentum on H4 time frame chart supports the short-term bearish outlook for BTC. Weekly Pivot Points: WR3 - $25,667 WR2 - $24,967 WR1 - $24,709 Weekly Pivot - $24,259 WS1 - $24,000 WS2 - $23,550 WS3 - $22,841 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.     Relevance up to 10:00 2023-02-25 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313949
The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

Bitcoin May Expect The Further Downside Movement

Peter Jacimovic Peter Jacimovic 27.02.2023 09:33
Technical analysis: BTC/USD has been trading downside as I expected and the market has reached downside objective at $23.000 in the background. Anyway, During the overnight session, I found that there is the breakout of the upside channel and rejection of the multi Fibonacci levels, which is good sign for the further downside movement. Downside objectives are set at $223.955 and $22.500 Read next: Pfizer Is In The Early Stages Of An Acquisition Of Biotech Company Seagen, Twitter's Staff Has Shrunk Since Elon Musk Took Over| FXMAG.COM Stochastic and MACD oscillators are showing fresh downside cross, which is another good sign for the further downside movement. Key resistance is set at the price of $23.800     Relevance up to 09:00 2023-02-28 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314100
More declines of Bitcoin to US dollar should force the altcoins to drop as well

Technical Outlook Of Price Movement Of Bitcoin

Ralph Shedler Ralph Shedler 27.02.2023 14:16
The price of Bitcoin dropped to 22,770 on Saturday, where it found demand again. Now, it has rebounded and is trading at 23,378. Technically, the crypto signaled exhausted buyers and a potential larger correction in the short term. In the past 24 hours, BTC/USD gained 0.70% but was down by 6.05% in the past 7 days. Bitcoin's sell-off forced the altcoins to drop as well. BTC/USD Retesting The Sellers! BTC/USD escaped from the range between 25,212 and 23,369 signaling a deeper drop. Now, the crypto came back to test and retest the broken downside obstacle. Technically, after its last drop, a temporary bounce back is natural. The weekly pivot point of 23,860, the median line (ML), and the upper median line (uml) represent upside obstacles. Read next: EUR/USD Pair Is Trading Around 1.0560, USD/JPY Is Above 136.20, GBP/USD Gained| FXMAG.COM BTC/USD Outlook! Testing and retesting the immediate resistance levels, registering only false breakouts may announce that the temporary rebound ended. As long as it stays below the descending pitchfork's upper median line (uml), BTC/USD could extend its downside movement. Temporary rebounds should bring new short opportunities. The median line (ml) acts as a magnet and it could attract the price   Relevance up to 12:00 2023-02-28 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314154
Crypto: according to Craig Erlam, there seems to be a gap between reality and prices

The Bears Of Bitcoin Remain In Control

Sebastian Seliga Sebastian Seliga 28.02.2023 09:30
Crypto Industry News: A former employee of the town of Cohasset, Massachusetts allegedly stole nearly $18,000 worth of electricity. Reason? It powered 11 cryptocurrency mining excavators. The secret cryptocurrency mine was located in the basement of Cohasset High School. It was discovered by the director of the facility. This took place at the end of 2021 during a routine building inspection. During the excavation, the aforementioned 11 excavators were found. According to media reports, said former city employee, Nadeam Nahas, was to be indicted on February 23 on charges of vandalizing a school building and stealing energy. A former employee is known to have stolen electricity worth nearly $18,000. He was mining cryptocurrencies between April 28 and December 2021, when his mine was discovered during the aforementioned inspection. The excavators were working 24 hours a day, 7 days a week at that time. Interestingly, he was only considered a suspect after a three-month investigation. Nahas resigned from his position at Cohasset in March 2022. Technical Market Outlook: The BTC/USD pair has tested the 50 MA on H4 time frame chart ($23,885) and reversed lower. The market still trades below the 50 and 100 MA, so the bears remain in control. The intraday technical support is seen at the level of $23,114 and $22,775, so any breakout below this levels will be considered bearish. The market is now developing the correcitve cycle and the weak and negative momentum on the H4 time frame chart supports the short-term bearish outlook. Weekly Pivot Points: WR3 - $24,000 WR2 - $23,709 WR1 - $23,535 Weekly Pivot - $23,417 WS1 - $23,234 WS2 - $23, 126 WS3 - $22,835 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314280
Rates Spark: Bracing for more

Markets Should Be Prepared For Return To 50bp And No Cuts This Year

Craig Erlam Craig Erlam 28.02.2023 14:43
It hasn’t been the most thrilling start to the week but that didn’t stop investors from piling back into stocks on Monday in the hope that January data proves to be an anomaly. That enthusiasm didn’t flow through to Asia overnight where indices are a mix of tiny losses and gains, and Europe looks poised to open in a similar fashion. In reality, the bumper start yesterday was simply a process of unwinding the losses from late last week which further suggests investors are in no mood to be discouraged. While bond markets have pivoted quite considerably from pricing in peak interest rates in the near future and rate cuts later in the year to multiple more hikes, perhaps even a reversion to 50 basis points, and no cuts this year, the message doesn’t appear to have gotten through to equity markets. That may well change if the February data continues to point to red-hot labour markets, stubborn inflation, and healthy household spending. But I expect that won’t be the case and investors may well be banking on that too. We all want to see resilience in the economy but if that leads to much higher interest rates, which are already now very high, that resilience won’t last long and hopes of a soft landing will quickly fade. Profit-taking kicking in? Bitcoin is trading a little lower today after giving up the bulk of its Monday gains late in the session. We’re still seeing strong resilience in cryptos but perhaps there’s some profit-taking kicking in after what has been a remarkable start to the year. There remains considerable resistance around $24,500-$25,500, a break of which could be a very bullish signal. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Both Visa And Mastercard Are Delaying The Launch Of Some Cryptocurrency-Related Products

Both Visa And Mastercard Are Delaying The Launch Of Some Cryptocurrency-Related Products

Sebastian Seliga Sebastian Seliga 01.03.2023 09:28
Crypto Industry News: Visa and Mastercard payment processors are delaying the launch of new partnerships with crypto firms due to regulatory scrutiny, which has intensified after recent industry bankruptcies, according to a media report. Previously, the payment giants explored USD Coin (Mastercard) payments and stablecoin (Visa) settlements, but have now shifted their plans to launch cryptocurrency-related products and services until market conditions and the regulatory environment improve. Both Visa and Mastercard are said to be delaying the launch of some cryptocurrency-related products and services until market conditions and the regulatory environment improve. These delays are intended to minimize risks associated with uncertain crypto regulatory environments following the collapse and bankruptcy of digital asset holding companies such as Celsius, FTX, Three Arrows Capital, Voyager Digital and others over the past year. Technical Market Outlook: The BTC/USD pair has tested the 50 MA on H4 time frame chart ($23,885), reversed lower and is currently trying to resume the up move againg by approachnig the technical resistance and upper range boundary located at $23,868. The market still trades below the 50 and 100 MA, so the bears remain in control. The intraday technical support is seen at the level of $23,114 and $22,775, so any breakout below this levels will be considered bearish. The market is now developing the correcitve cycle and the weak and negative momentum on the H4 time frame chart supports the short-term bearish outlook. Weekly Pivot Points: WR3 - $24,000 WR2 - $23,709 WR1 - $23,535 Weekly Pivot - $23,417 WS1 - $23,234 WS2 - $23, 126 WS3 - $22,835 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term   Relevance up to 09:00 2023-03-02 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314465
Asia Morning Bites - 22.05.2023

Positive Signals From China, Bitcoin Is Trading More Than 2% Higher

Craig Erlam Craig Erlam 01.03.2023 11:43
Equity markets in Asia are enjoying some decent gains overnight, with China and Hong Kong the obvious outperformers, while Europe is also enjoying a positive start on Wednesday. Choppy trading conditions are still evident this week although the latest Chinese PMIs have provided some cause for more optimism. It was already believed that the transition from zero-Covid to living with it was going smoothly but this survey data suggests businesses are now extremely optimistic about the future. That bodes well not just for China but regionally as well, as strong demand boosts trade and a resurgence in tourism restores the battered industry. There’s still a long way to go and there could be setbacks along the way but investors will no doubt be encouraged by these early signs. Those with close economic links with China have seen their currencies perform well in the aftermath of the releases, while the yuan is also trading much stronger on the day. While the initial reopening data may be noisy, a strong rebound will be very welcome after a very challenging 2022. Read next: Some Mcdonald's Locations Don't Promote Hip-Hop Stars' New Meal| FXMAG.COM A timely boost Not one to miss out on a bump in risk appetite, bitcoin is trading more than 2% higher this morning. It appears to have consolidated around late-February lows in recent days after failing to break key resistance – $24,500-$25,500 – in the middle of the month. That could be a sign of weakness, at least in the short-term, although ultimately it’s hard to imagine that occurring if we do see risk appetite continue to improve. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
The G20 And IMF Are Already Preparing Their Crypto Regulation

The G20 And IMF Are Already Preparing Their Crypto Regulation

Swissquote Bank Swissquote Bank 01.03.2023 14:32
The G20 met last weekend to discuss many topics, one of which is crypto regulation. The G20, BIS, IMF and FSB are already preparing their regulation efforts. What's coming for crypto traders?   00:00 Intro 00:22 Preview 00:42 Crypto-News 03:43 Bitcoin 07:59 Ethereum 11:02 Cosmos 12:18 Solana 14:21 Subscribe & Good bye #crypto #cryptonews #cryptotrading #swissquote _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

The French National Assembly Voted For The Introduction Of More Severe License Regulations For New Cryptocurrency Companies

Sebastian Seliga Sebastian Seliga 02.03.2023 09:37
Crypto Industry News: The French National Assembly voted for the introduction of more severe license regulations for new cryptocurrency companies in order to harmonize local regulations with proposed European Union standards. Voting was adopted by 109 votes (60.5%) for, at 71 (39.5%) against. The act now goes to President Emmanuel Macron, who has 15 days to approve it or send it to parliament. If the new law is adopted, it will force cryptocurrency service providers based in France to comply with more severe regulations regarding counteracting money laundering, showing segregation of customer funds, compliance with new guidelines for reporting to regulatory bodies, and providing more detailed information on the risk and conflicts of interests , to strengthen consumer protection. The Act will not apply to 60 cryptographic companies registered in Financial Markets Authority (AMF), the National Polish Financial Supervision Authority. These companies will continue to comply with AMF principles, until the probable adoption of their own EU regulations regarding cryptocurrencies together with the Act on cryptographic asset markets (MICA). Therefore, more stringent regulations would apply only to cryptographic companies that have been registering since July. Technical Market Outlook: The BTC/USD pair has failed to break above the 50 MA on H4 time frame chart ($23,885), reversed lower and is currently trading back inside a narrow range seen between the levels of $23,044 - $23,885. The intraday technical support is seen at the level of $23,114 and $22,775, so any breakout below this levels will be considered bearish. The market is now developing the correcitve cycle and the weak and negative momentum on the H4 time frame chart supports the short-term bearish outlook. Weekly Pivot Points: WR3 - $24,000 WR2 - $23,709 WR1 - $23,535 Weekly Pivot - $23,417 WS1 - $23,234 WS2 - $23, 126 WS3 - $22,835 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term   Relevance up to 08:00 2023-03-03 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314647
Technical Outlook Of The Further Movement Of Bitcoin

Technical Outlook Of The Further Movement Of Bitcoin

Peter Jacimovic Peter Jacimovic 02.03.2023 10:42
Technical analysis: BTC/USD has been downside this morning and i found the rejection of the key Fibonacci cluster resistance at the price of $23.900. Due to the rejection of the key Fibonacci resistance in the background and and fresh bear cross on the oscillators, I see potential for the further downside movement. Downside structural objectives are set at $22.500 and $21.550 Both MACD and Stochastic oscillators are showing fresh bear cross, which is another sign for the further downside movement. Key resistance zone is set at $23.900   Relevance up to 09:00 2023-03-03 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314663
Bitcoin needs to stay above $29k by the end of today's trading session to strengthen its positions and continue moving towards $30k says InstaForex's Petrenko

Bitcoin Remains More Than 65% Off Its All-Time High

Sebastian Seliga Sebastian Seliga 03.03.2023 08:26
Crypto Industry News: Despite the difficulties faced by the crypto industry in 2022 and the fact that Bitcoin remains more than 65% off its all-time high of $68,789, there is reason to be optimistic about the future of cryptocurrencies. The results of a recent study by Morning Consult can be optimistic. The survey found that 80% of American adults are frustrated with inequality in the financial system and believe it favors those with "powerful businesses", with 67% of respondents agreeing that the financial system needs major change or a complete overhaul, while only 4% say that no changes are needed. An online survey found that the most popular word associations with the global financial system were "expensive" (34%), "injustice" (30%) and "confusing" (30%). As perceptions of inequality increase, interest in engaging with the crypto ecosystem and owning cryptocurrencies has held steady, with 20% of American adults now owning at least one digital asset. Technical Market Outlook: The BTC/USD pair has failed to break above the 50 MA on H4 time frame chart ($23,885), reversed lower and after a short period of a horizontal trading inside a narrow range seen between the levels of $23,044 - $23,885 the bears spiked to the downside. The intraday technical support seen at the level of $23,114 and $22,775 will now act as the technical resistance as the low during the spike down was made at the level of $22,000. The market is now developing the corrective cycle and the weak and negative momentum on the H4 time frame chart supports the short-term bearish outlook. Weekly Pivot Points: WR3 - $24,000 WR2 - $23,709 WR1 - $23,535 Weekly Pivot - $23,417 WS1 - $23,234 WS2 - $23, 126 WS3 - $22,835 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 2023-03-04 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314788
Bitcoin Is Strongly Bearish, So A Further Drop Is Natural

Bitcoin Is Still In Strong Downside Momentum

Peter Jacimovic Peter Jacimovic 03.03.2023 09:46
Technical analysis: BTC/USD has been trading downside as I expected yesterday. The price has reached first downside objective Fibonacci Expansion 61/% at the price of $22.500. Due to the strong downside momentum, I still see potential for the further downside movement after the uspide correction. Next downside objective is set at the price of $21.550 Stochastic and MACD oscillators are still showing downside reading, which is good sign for the further downside movement. Key resistance is set at the price of $23.000 Relevance up to 09:00 2023-03-04 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314812
Discontinuation Of The Silvergate Exchange Network, What Does It Mean To Burn Crypto?

Discontinuation Of The Silvergate Exchange Network, What Does It Mean To Burn Crypto?

Kamila Szypuła Kamila Szypuła 05.03.2023 10:33
The constant development and increase in popularity of the cryptocurrency market causes many changes. Changes in the cryptocurrency market appear as quickly as they disappear. In this article: The end of Silvergate Exchange Network A bad manager Burning cryptocurrencies The end of Silvergate Exchange Network Silvergate Exchange Network, one of the bank's most popular offerings, enabled 24/7 transfers between investors and crypto exchanges, unlike traditional wire transfers, which can often take days to clear. Silvergate Capital Corp said on Friday it had made a risk-based decision to discontinue the Silvergate Exchange Network, two days after the digital asset-focused bank expressed doubts about its viability. Coinbase Global Inc and Galaxy Digital have dropped Silvergate as their banking partner. Stablecoin issuers Paxos and Circle, digital asset exchange Cboe, and cryptocurrency exchanges Bitstamp and Gemini have also suspended cooperation with Silvergate. Bitcoin and other cryptocurrencies plummeted, one day after a crisis arose around Silvergate Capital, one of the most influential banks in the digital asset industry https://t.co/pYGv8ZKSA3 pic.twitter.com/sQ30lzXs83 — Reuters Business (@ReutersBiz) March 5, 2023 A bad manager Many factors influence whether we want to work in a given company or not. The main factor is earnings, then working conditions and the composition of the team is also included in the working conditions. A Gallup survey of over 7,000 American adults found that 50 percent of people leave their jobs to get away from their boss to improve their overall life at some point in their careers. The same study found that for most employees, managers fail at developing their employees' strengths, providing consistent feedback, and setting clear performance goals. Many employees have been in this situation before: the projects are addictive and the co-workers are great, but the relationship with the boss makes you miss 5:00 So what behaviors of managers evoke the greatest ire of employees? The cardinal sin, according to their subordinates, is playing favorites. Staff were also keen to leave the bullying to the schoolyard. Bosses who informally threatened to fire employees were deemed as bad as those who chose favorites Bosses who exploit their position for monetary or sexual rewards are also highly disliked. 50% of people have quit because of a bad manager — here are the 10 boss behaviors workers hate most. (via @CNBCMakeIt) https://t.co/CzK6SO9buT — CNBC (@CNBC) March 5, 2023 Burning cryptocurrencies The cryptocurrency market is evolving and with it new methods and concepts will appear. Burning cryptocurrencies involves destroying project tokens or coins by sending them to the burning address. Destroyed tokens are usually removed from circulation and cannot be used or traded in the future. There are different ways to burn tokens, depending on the project's technology and community decisions. Burning tokens can increase the value of a cryptocurrency by reducing the supply of tokens in circulation. In general, when there are fewer tokens in circulation and the demand remains the same, the price per token is likely to increase. This is one of many reasons, but it may be the main one. Token burning is a popular mechanism used by cryptocurrencies to manage their supply and increase their value. The process consists in permanently removing part of the cryptocurrency tokens from circulation. While burning coins can have several advantages, including reducing inflation and increasing the value of the remaining tokens, it also has its disadvantages, such as permanently deleting assets and needing multiple tokens to make an impact. What does it mean to burn #crypto? 🔥 Here's a beginner-friendly guide on how it works, the pros and cons of burning tokens, and examples of token burns ⤵️https://t.co/3aUay2yFZ3 — CoinGecko (@coingecko) March 5, 2023
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Sebastian Seliga Sebastian Seliga 06.03.2023 09:12
Crypto Industry News: The recently launched internal digital currency of the Indian Central Bank (CBDC) - digital rupee - is currently being tested for offline functionality, revealed by Ajay Kumar Choudhary, executive director of Reserve Bank of India (RBI). RBI - Reserve Bank of India and regulatory body - launched on November 1, 2022, piloting wholesale segment for a digital rupee, introducing 50,000 users and 5,000 sellers for testing in the real world. As at February 25, about $ 134 million and 800,000 transactions were carried out via wholesale CBDC. Based on this progress, Choudhary said that RBI was looking at the functionality of offline CBDC. In an interview with CNBC TV18, he stated that RBI was assessing the potential of CBDC in the field of cross -border transactions and connections with older systems in other countries. Technical Market Outlook: The BTC/USD pair has failed to break above the 50 MA on H4 time frame chart ($23,885), reversed lower and after a short period of a horizontal trading inside a narrow range seen between the levels of $23,044 - $23,885 the bears spiked to the downside. The same situation seems to be continued currently as the market is trading inside a narrow zone again. The intraday technical support is seen at the level of $22,166 and $22,000. The market is now developing the corrective cycle to the downside and the weak and negative momentum on the H4 time frame chart supports the short-term bearish outlook. Weekly Pivot Points: WR3 - $22,812 WR2 - $22,582 WR1 - $22,470 Weekly Pivot - $22,352 WS1 - $22,240 WS2 - $22,122 WS3 - $21,892 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 2023-03-07 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314986
There Are Many Ways To Join A Crypto Community

Different Scaling Solutions Of Crypto: Optimistic And Zk Rollups

Binance Academy Binance Academy 06.03.2023 11:36
TL;DR The increasing popularity of crypto and blockchain has led to developers seeking a way to scale by improving a system’s ability to accommodate the growing demand. Sharding, sidechains, state channels, and rollups are some approaches to scaling. Blockchain rollups offload certain transaction processes to a secondary chain while storing transaction data on the main Layer 1 blockchain. In this article, we explore the two types of rollups in the crypto space – optimistic and zero-knowledge. Introduction Due to rising crypto demand, some blockchains’ abilities are tested to their limits. This could lead to network congestion and expensive transaction costs. To address this, scaling solutions are being developed and tested to increase transaction throughput and speed. Such solutions can be categorized into two groups: Layer 1 and Layer 2. Layer 1 scaling solutions like sharding make changes directly to the main blockchain (also known as a base or Layer 1 blockchain). Layer 2 scaling solutions run on top of a Layer 1 blockchain. Examples of Layer 2 scaling solutions include state channels, sidechains, and blockchain rollups. Blockchain rollups are protocols designed to enable high throughput and lower costs. They aim to fix the problem many popular blockchains face by bundling transactions and reducing data size for more efficient transaction processing and storage. Learn more on Binance.com What Are Blockchain Rollups? Rollups are a Layer 2 solution that bundles up transaction data and transfers it off the main chain (or Layer 1 blockchain). Transaction execution is then performed off-chain, while assets are held in an on-chain smart contract. The transaction data will be sent back to the main blockchain upon completion. Theoretically, any Layer 1 solution can implement rollups to increase transaction efficiency in terms of throughput. With rollups, a blockchain can increase the number of transactions processed and recorded within a certain timeframe. Presently, there are two types of rollups – optimistic rollups and zero-knowledge (zk) rollups. What Is an Optimistic Rollup? Optimistic rollups are protocols that increase transaction output by bundling multiple transactions into batches, which are processed off-chain. After that, the transaction data is recorded on the main chain with data compression techniques that help lower cost and increase speed. According to Ethereum, optimistic rollups can improve scalability by 10 to 100 times. How do optimistic rollups validate transactions? Transactions are valid by default to increase efficiency. You may wonder if this would compromise security in favor of transaction processing speeds. However, optimistic rollups use a fraud-proving scheme, with a dispute-resolution period known as a ‘challenge period.’ Within this period, anyone monitoring the rollup can submit a challenge to verify if the transaction has been processed accurately through a fraud proof. If that batch is found to have errors, the rollup protocol will rectify them by re-executing the wrong transaction(s) and updating the block. Parties who approve incorrect transactions for execution will be penalized. Limitations of optimistic rollups While there isn’t a transaction validation process, there is a challenge period that zk rollups do not have, which increases the time taken for transactions to be finalized. The finality of chains with optimistic rollups is also lower than that of zk rollups. Finality is the measure of how long a user has to wait for a reasonable guarantee that the transactions will not be reversed or altered. Withdrawals on optimistic rollups are delayed as the challenge period needs to lapse before funds can be released. In contrast, withdrawals from zk rollup take effect as soon as the zk rollup smart contract verifies the validity proof. Some people also view optimistic rollups as less efficient than zk rollups. With optimistic rollups, all transaction data must be posted on-chain to finalize transactions. With the zk counterparts, only validity proofs are required on-chain. What Is a Zero-Knowledge (zk) Rollup? Zero-knowledge rollups are protocols that bundle transactions into batches to be executed off the main chain. For every batch, a zk rollup operator will submit a summary of the required changes once the transactions in the batch have been executed. Operators have an additional role in producing validity proofs to prove that the changes are accurate. These proofs are significantly smaller than transaction data; therefore verifying them is quicker and cheaper. On Ethereum, zk rollups reduce transaction data via compression techniques when writing transactions to Ethereum as calldata, effectively reducing user fees. How do zk rollups validate transactions? Zk rollups use zero-knowledge proofs (ZKP) to validate transactions. ZKPs are used by someone called a prover who wants to convince another party, known as a verifier, that they possess knowledge, thereby verifying a transaction. This is how it works: The prover provides a mathematical proof that only they can generate. The verifier uses this mathematical proof to verify the validity of the transaction. The information can receive validity proof without revealing the contents to the verifier. Benefits of zk rollups Zk rollups can offer a high level of security for users if implemented properly. One key feature contributing to this security is the use of zero-knowledge validity proofs. They ensure that the network can only function in a valid state and that operators cannot steal user funds or corrupt the system in any way. Another benefit of zk rollups is that users don't need to monitor the network. Zk rollups store all data on-chain and require validity proofs. Therefore an operator can't cheat, and users don't have to worry about network misbehavior. Additionally, zk rollups let users withdraw their funds onto the mainnet without having to cooperate with operators by proving token ownership via data availability. Similar to optimistic rollups, zk rollups also implement an off-chain execution mechanism to increase transaction execution speeds. Differences Between zk Rollups and Optimistic Rollups Below is a summary of the differences between optimistic and zk rollups. What’s the Future of Zero-knowledge & Optimistic Rollups? The future of zero-knowledge and optimistic rollups is still a question mark. As more people adopt crypto and blockchain, rollups may play a vital role in improving blockchain efficiency. Blockchains will likely continue to test various scaling solutions, including sharding, rollups, and layer 0. We could also see new solutions being created and implemented, either along with or instead of rollups. Closing Thoughts Since the demand for crypto has increased and stretched the limits of current blockchains, many have proposed different scaling solutions. In this article, we examined the inherent differences between two varieties of rollups, optimistic and zk rollups. As rollups continue being battle-tested, we may eventually see a superior variety that could help us reach scalability for mass adoption. Further Reading Blockchain Layer 1 vs. Layer 2 Scaling Solutions zk-SNARKs and zk-STARKs Explained What Is Zero-knowledge Proof and How Does It Impact Blockchain? Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. Not financial advice
Bitcoin needs to stay above $29k by the end of today's trading session to strengthen its positions and continue moving towards $30k says InstaForex's Petrenko

The Bitcoin Market Is Now Developing The Corrective Cycle

Sebastian Seliga Sebastian Seliga 07.03.2023 08:26
Crypto Industry News: On March 3, the Wall Street Journal (WSJ) published an article attacking Tether. Journalists allegedly found e-mails and documents which show that the USDT issuer has ties to entities from China that sent the company false invoices and used shell companies (so-called "artificial intermediaries"). What is it actually about? The WSJ article describes some transactions conducted by Tether and the related exchange Bitfinex, which were supposed to give Chinese companies access to bank addresses. As written in the report, these entities would not be able to access a bank account on their own. Tether and Bitfinex were also supposed to help them bypass various controls by the banking sector. Moreover, the report stated that these companies were allegedly cooperating with terrorist organizations on behalf of which money was laundered. In addition, citing a person familiar with the case, the Wall Street Journal wrote that Tether is under investigation by the U.S. Department of Justice. However, no information was given as to what the investigation is about. The company did not have to wait long for a response from its side. On the same day, an official statement on the report was published on her blog, accusing them of dishonest practices. Tether described the reports about itself as "outdated allegations from the old days" and "totally inaccurate and misleading". "Bitfinex and Tether have world-class compliance programs and adhere to applicable anti-money laundering, customer awareness and terrorist financing legal requirements." It also said Tether is a "proud" law enforcement associate and "routinely and voluntarily" assists authorities in the United States and abroad in all efforts to combat illegal practices. Technical Market Outlook: The BTC/USD pair has failed to break above the 50 MA on H4 time frame chart ($23,885), reversed lower and after a short period of a horizontal trading inside a narrow range seen between the levels of $23,044 - $23,885 the bears spiked to the downside. The same situation seems to be continued currently as the market is trading inside a narrow zone again. The intraday technical support is seen at the level of $22,166 and $22,000. The market is now developing the corrective cycle to the downside and the weak and negative momentum on the H4 time frame chart supports the short-term bearish outlook. Traders await the breakout to get more clues about the next BTC move. Weekly Pivot Points: WR3 - $22,812 WR2 - $22,582 WR1 - $22,470 Weekly Pivot - $22,352 WS1 - $22,240 WS2 - $22,122 WS3 - $21,892 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 2023-03-08 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315148
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

The Downside Continuation Of Bitcoin Is Expected

Peter Jacimovic Peter Jacimovic 07.03.2023 09:46
Technical analysis: BTC/USD has been trading sideways at the price of $22.425. I see potential for the downside continuation. In case of the breakout of the flag pattern, I see potential for the drop towards $20.7150 and $19.000 In case of the rally first, there is key resistance zone at $23.200. Stochastic is showing the potential bear cross. Key resistance is set at the price of $23.200     Relevance up to 08:00 2023-03-08 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315166
All Eyes On Capitol Hill, Jerome Powell Will Appear Before The Senate Banking Committee

All Eyes On Capitol Hill, Jerome Powell Will Appear Before The Senate Banking Committee

Kenny Fisher Kenny Fisher 07.03.2023 10:56
It’s shaping up to be another relatively flat day in the markets as investors turn their attention to Capitol Hill ahead of Jerome Powell’s first testimony. The Fed Chair will appear before the Senate Banking Committee later today to testify on the semi-annual monetary policy report. These events naturally attract a lot of attention but the reality is the Chair’s performance is usually quite polished and uncontroversial, and the occasion itself can drag on and frequently venture away from topic. In other words, we shouldn’t assume we’re about to get fireworks from Powell. What may make this occasion different is the fact that there’s so much uncertainty around the outlook for interest rates and inflation. While the Fed has maintained that rate hikes must continue, the economic data from January has forced markets to adjust to that reality too so there’s every chance we get a hawkish offensive from Powell. Considering the likelihood of the January data being a blip rather than a trend, I think it would probably be wiser for Powell to maintain his previous tone as he may risk spooking the markets but if the FOMC truly is weighing up a 50 basis point hike this month, this would be a good opportunity to lay the groundwork for it. Nearing the end The RBA appeared to soften its tone once more after hiking rates by another 25 basis points today. The central bank is now of the opinion that inflation has peaked and so multiple rate hikes may no longer be the base case. That said, the RBA will decide meeting by meeting and a lot can change in between. Markets are now pricing in at least one more hike in the cycle and maybe two. The Australian dollar is a little lower on the day as the decision was perceived to be a dovish hike. Some promising signs Chinese trade data highlighted some modest improvements but remain quite weak overall. The drop in imports can possibly be attributed to some one-off factors including Covid exit waves and the Lunar New Year and the data will surely improve over the coming months as the economy returns to normal. Exports remained under pressure, although the number was better than expected, indicating still soft global demand which aligns with what we’ve seen recently elsewhere. Hanging on in there Bitcoin has been in consolidation since Friday’s sell-off with traders seemingly fearful of further ripple effects but still willing to hang on for now just in case. It’s been a fantastic year for crypto so far but events late last week were a quick reminder of the challenges facing the industry in the short term and the consequences of that. There’ll also be an eye on Powell’s testimony today as it may influence overall risk appetite in the markets. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
DPX Token Registered A 24-Hour Return Of 11.11%

The Twelvefold Collection Collected A Total Of 3,246 Bids During The 24-Hour Auction, More Frequent Reporting On The Flow Of Money To And From Israel

Kamila Szypuła Kamila Szypuła 07.03.2023 11:30
A large sale of the collection is an important event for the NFT market. Further banking regulations are also being observed. In this article: China The flow of money Banking and inflation The TwelveFold China At the National People's Congress on Sunday, the Chinese government announced a goal of "around 5%" gross domestic product growth in 2023 - the lowest level in more than three decades and below the 5.5% expected by economists. The administration also proposed a modest increase in fiscal support for the economy. President Xi Jinping and other officials have targeted the West for limiting China's growth prospects as relations between Beijing and Washington continue to deteriorate. Beijing is well aware that the U.S. will look to curtail its global influence by growing the “technology gap”. Negative reactions and further investment restrictions are therefore likely, at least from the US. How China's shifting growth picture could hit global markets https://t.co/isZYv12CJp — CNBC (@CNBC) March 7, 2023 The flow of money The Bank of Israel has instructed local banks to report more frequently about the flow of money into and out of Israel. The new directive comes at a time of instability in the Israeli shekel. Analysts have linked the results of the shekel to uncertainty over Prime Minister Benjamin Netanyahu's plan to change Israel's judicial system. Critics of the changes say Netanyahu is taking steps that will damage Israel's democratic checks and balances, enable corruption and lead to diplomatic isolation. The Bank of Israel has instructed local banks to report more frequently on the movement of money in and out of Israel, a central bank spokesperson said. More here: https://t.co/PoOluu5MI5 — Reuters Business (@ReutersBiz) March 7, 2023 Banking and inflation These are difficult times for central bankers. The increase in inflation in 2021 took many central banks by surprise. The challenges would have been much tougher had it not been for the significant improvements in central banking over the past three decades - in particular, advances in what is known as the inflation target. Under the inflation target, central banks make a clear commitment to a long-term inflation target and strive to achieve it by changing the interest rate policy that they control. Raising interest rates, such as what central banks are doing now, tends to bring down inflation by reducing spending on housing and other interest rate sensitive goods. Former Swedish central banker @leosven led the inflation-targeting revolution. Read a profile of him in the latest F&D. https://t.co/cGsIdEteS2 pic.twitter.com/xNC7MZNnj0 — IMF (@IMFNews) March 7, 2023 The TwelveFold The high-profile and controversial auction of Yuga Labs' debut Bitcoin NFT collection ended on Monday. The TwelveFold collection collected a total of 3,246 bids during the 24-hour auction that began on Sunday. Of these, the highest bid was 7.1159 BTC, or around $159,500. The lowest successful bid was 2.2501 BTC, which is just over $50,000. Yuga, the $4 billion company behind Bored Ape Yacht Club's dominant collection of NFTs, previously only hosted NFTs on the Ethereum blockchain. NEWS: @yugalabs' auction of its debut #Bitcoin NFT collection, TwelveFold, raises $16.5M with 288 successful bidders.📰 https://t.co/iJVTndsYGj pic.twitter.com/eK4keX4e6j — CoinGecko (@coingecko) March 7, 2023
Is Gold Ready to Shine Again? US CPI and Fed Policy Insights

Gold Is Consolidating As Investors Await Any Signs Over How Much More Restrictive Fed Policy Will Become

Ed Moya Ed Moya 07.03.2023 14:20
US stocks are slightly higher ahead of Fed Chair Powell’s Congressional testimony.  Everyone is expecting Fed Chair Powell to deliver his best hits of ‘we have more work to do’ and ‘higher for longer’.  Powell might not commit how much higher rates will go, but he will keep the door open for the Fed’s dot plots to move higher.  Lawmakers will argue that we don’t need to see a recession to bring inflation back to target.  Powell will likely signal that Americans could see economic pain later this year. Powell will most likely stay hawkish given how high inflation remains and the strength of the labor market.    Biden This week, Wall Street is expecting to get President Biden’s budget proposal for fiscal 2024. This morning, President Biden’s op-ed in the NY Times gave a sample of what he will be proposing.  He noted that, “my budget proposes to increase the Medicare tax rate on earned and unearned income above $400,000 to 5% from 3.8%.” He is aiming to keep the Medicare trust fund solvent beyond 2050.  This is just the beginning of budget negotiations as House Republicans will not get on board with this first pitch.  RBA The RBA did not surprise after raising its cash rate target by 25bps to 3.60%.  The RBA is nearing the end of its tightening cycle as they removed the language about hikes in the coming months. Australia doesn’t have the same wage pressures that the US has and that is why they believe inflation has peaked and that further hikes will be data dependent.  The RBA’s dovish hike sent the Australian dollar lower by 0.9% against the US dollar.  EUR After a day to digest ECB’s Holzmann case for four half-point rises, ECB hike odds continue to rise. It looks like no one wants to listen to doves, especially considering we keep seeing core CPI make fresh record highs.  Holzmann argued for 50bps point rises in March, May, June and July, with restrictive policy starting at 4.00%.  Nomura bumped up their ECB forecast from 3.50% to 4.25%.  Earlier in the week, Morgan Stanley increased their ECB forecast to 4.00%.  Dovish ECB member Lane argued against having policy on ‘autopilot’, emphasizing that it should not be on autopilot, but stay data dependent.     The euro could see some support once we get beyond Fed Chair Powell’s testimony and Friday’s nonfarm payroll report.  Oil Crude prices are wavering ahead of Fed Chair Powell’s testimony to the US Senate. Oil has had a nice start to the month, but lingering demand concerns and further oil inventory increases should cap this rebound.  Oil looks like it might need to trade in a range a little longer until we have a clearer outlook for the US economy.  The debate over what type of recession will hit the US economy will not be answered in a couple of months time, so we might see conservative calls for demand to remain healthy over the short-term.  In the event, risk appetite runs wild following Fed Chair Powell’s Senate appearance, WTI crude should find major resistance at the $84.80 region.  Gold Ahead of Fed Chair Powell’s testimony to the Senate, gold is consolidating as investors await any signs over how much more restrictive Fed policy will become.  A strong bullish argument for holding bullion could be made as global central banks are growing confident peak tightening will soon be in place.  The RBA rate decision provided optimism that inflation may have peaked and that further tightening might not be needed if disinflation trends remain firmly in place.  Gold might benefit if the rest of the major central banks start delivering dovish hikes. Also providing a boost for gold is the steady demand it is seeing from China.  This current macro environment should lead to stronger central bank buying.  The focus for many is the steady buying by the PBOC and if the weaker dollar trade unfolds later this year, gold could shine.  Bitcoin Bitcoin remains anchored despite a potential weekly death cross pattern.  Bitcoin had a great start to the year, but since the middle of February prices have gradually softened.  Contagion risks from Silvergate Capital and hard landing fears are keeping cryptos heavy, but the key trading range of $21,000 to $25,500 continues to hold up.  Crypto traders are closely watching the bond market and if yields refuse to breakout higher, Bitcoin may remain in this trading range.    This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

The President Of El Salvador Continues To Promote Bitcoin

Sebastian Seliga Sebastian Seliga 08.03.2023 09:20
Crypto Industry News: The president of El Salvador, Nayib Bukele, continues to promote bitcoin. During a recent conversation with the media, he pointed out that the country's tourism has benefited greatly from his pro-bitcoin policy. He pointed out that since the recognition of BTC as a means of payment, the tourism industry in his country has grown by as much as 95%. When in 2021 the authorities of El Salvador recognized bitcoin as a means of payment, this decision caused a lot of controversy. Many "old-fashioned" economists predicted that this move would bring the country to the brink of collapse. In the streets of the capital, the left, generally hostile to Bukele's politics, protested. Even in mainstream Polish media one could hear that this idea would only strengthen local mafias. Today we know that government policy has led to the development of the ATM network and the start of the Bitcoin City project. In principle, Bukele and his people want to bring experts from the blockchain technology market to El Salvador and set up a regional center for this industry. Bukele told the media that around the world, "there are many bitcoin fans who want to come to a country where BTC is legal tender." He added that in El Salvador there are organized cryptocurrency conferences. In addition, bitcoin helped El Salvador improve its image. The country was often perceived as a dangerous place, ruled by criminal groups. Now more and more people talk about it when mentioning technological innovations. The increased adoption of bitcoin has yet another background. Blockchain makes it easier to transfer funds. Money sent from abroad accounts for as much as 20 percent. GDP of the whole country. Some families function only because they receive foreign transfers from relatives. It is often as high as 60% household income. Technical Market Outlook: The BTC/USD pair has failed to break above the 50 MA on H4 time frame chart ($23,885) and reversed lower towards the key technical support seen at the level of $21,429 (13th Feb low). The intraday technical resistance is seen at the level of $22,000. The bears move inside the descending channel on the H4 time frame chart and the weak and negative momentum helps the bears to push the prices lower. The negative bearish divergence on the daily time frame chart between the price and the momentum oscillator supports the bearish outlook for BTC in the coming days. Weekly Pivot Points: WR3 - $22,812 WR2 - $22,582 WR1 - $22,470 Weekly Pivot - $22,352 WS1 - $22,240 WS2 - $22,122 WS3 - $21,892 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-03-09 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315316
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

The Bitcoin Price Did Breakout Of The Bear Flag Pattern

Peter Jacimovic Peter Jacimovic 08.03.2023 09:38
Technical analysis: BTC/USD has been trading downside as I expected. The price did breakout of the bear flag pattern in the background, which is good sign for the further downside movement. I see potential for the further drop towards lower references. Downside structural objectives are set at $21.500, 20.750 and $19.500 Stochastic and MACD oscillators are showing downside reading with no evidence for the change in trend behavior. Key resistance is set at the price of $22.550   Relevance up to 08:00 2023-03-09 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315310
There Are Many Ways To Join A Crypto Community

According To The StablecoinPrinter Virtually No New Major Stablecoins Were Created In February This Year

Conotoxia Comments Conotoxia Comments 08.03.2023 10:26
From intensified SEC action against the cryptocurrency market, to declines in the value of bitcoin and other digital currencies, to the troubles of the long-struggling Silvergate bank, which has a significant share of the cryptocurrency market, a lot has happened in the digital currency market since the beginning of this year. We take a look at the current situation in this market based on the data. Declining dependence of bitcoin on the market Since the beginning of the year, the S&P 500 Index (US500) has posted a 5.8% return, while the value of bitcoin has risen by 34%. Historically, the level of correlation between bitcoin and the stock market was around 0.6 (R^2=36%), indicating a relatively significant relationship. However, since the beginning of the year, the correlation between the two assets has dropped sharply to 0.31 (R^2=9.6%). This may indicate a decoupling of the cryptocurrency market from the ups and downs of the broad equity market. Source: Conotoxia MT5, US500, Daily The average correlation of the 70 largest cryptocurrencies with bitcoin was 0.64 (R^2=41%), which would mean that the majority of this market is still dependent on the situation on just this one cryptocurrency. Nonetheless, an investment in altcoins would have yielded an average return of 41.2% (7.2 percentage points higher) and as many as 89% of them achieved a positive return during this time. The average annual symmetric risk, as measured by the standard deviation, for the period under review in the cryptocurrency market was 14.44%. For bitcoin, it was slightly lower at 12%. Volatility in this market seems to have returned, as the standard deviation for the stock market was only 2.3%. Which means that the average volatility in the digital currency market is now more than 5 times that of the stock market, which may prove more attractive to active investors. Further outflows of funds from the cryptocurrency market The size of the monetary base, as measured by stablecoin capitalisation, seems to have played a key role in consolidating the upward trend. Unfortunately, their volume seems to be steadily declining month by month. According to the StablecoinPrinter website on Twitter, virtually no new major stablecoins were created in February this year. The capitalisation of this entire market fell by 25% y/y. and by 2.4% m/m. It seems that it might be hard to see growth in this market without an influx of fresh capital. Source: https://btctools.io/stats/market-cap Despite the increase in SEC scrutiny of the cryptocurrency industry, there have been no immediate outflows of funds from the largest proof-of-stake cryptocurrency, Ethereum. This could  be seen in the level of network performance (hashrate), which has remained stable, indicating that there are still a large number of users using the Ethereum network. Nonetheless, it is worth noting the growing regulatory risks that may affect the future movements of cryptocurrency investors and users. Analysis of emotions Emotions such as anger and fear are currently prevalent among investors, according to Sentistock, a company that studies emotions in the cryptocurrency market based on social media posts. The company's artificial intelligence, used to forecast bitcoin prices in the near future, predicts an average price of US$22624 for the next 24 hours, 1.1% above current levels. Source: https://sentistocks.com/predictions/ Grzegorz Dróżdż, Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Bitcoin Is Again In The Framework Of A Strong Downward Movement

The Bitcoin Has Made Another Local Low And Bears Are Getting Closer To The Key Technical Support

Sebastian Seliga Sebastian Seliga 09.03.2023 09:04
Crypto Industry News: In addition to groups of investors depending on how long they hold BTC, behavior can also be judged by portfolio size. Among all known holders, it is whales with more than 1,000 BTC that attract the most attention from speculators and the entire market. The graph shows the average purchase prices for whales, taking into account only coins entering and leaving cryptocurrency exchanges. Glassnode began measuring the following major bear bottoms by analyzing the best average purchase price for whales for each phase of the cycle. - Since July 2017, i.e. since the launch of Binance - From December 2018, at the low of the 2018 bear market - From March 2020 on the bottom of the COVID sale All three of these whale groups experienced an average unrealized loss when Bitcoin fell below $18,000 following the FTX implosion in November 2022. Interestingly, however, the recent declines have accelerated with weakening demand at the approximate cost base of BTC accumulating whales from December 2019, i.e. 23,800 In addition, this level coincided with the average purchase price of BTC for a supply older than 6 months, which potentially suggests a) a more permanent weakening of the sentiment b) a more active supply of long-term and also wealthy investors. Technical Market Outlook: The BTC/USD pair has made another local low in the last 24h and he bears are getting closer to the key technical support seen at the level of $21,429 (13th Feb low). The intraday technical resistance is seen at the level of $22,000. The bears move inside the descending channel on the H4 time frame chart and the weak and negative momentum helps the bears to push the prices lower. The negative bearish divergence on the daily time frame chart between the price and the momentum oscillator supports the bearish outlook for BTC in the coming days. Weekly Pivot Points: WR3 - $22,812 WR2 - $22,582 WR1 - $22,470 Weekly Pivot - $22,352 WS1 - $22,240 WS2 - $22,122 WS3 - $21,892 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 2023-03-10 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315469
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

For Dexs Higher Revenue Can Attract More Users

Binance Academy Binance Academy 09.03.2023 10:55
TL;DR Decentralized finance (DeFi) protocols offer decentralized financial services via smart contracts and charge fees for those services. When a DeFi project’s revenue increases, it attracts more users and liquidity. Introduction Choosing between different DeFi protocols can take plenty of time and effort. Many seem similar, so how do we know which one is the best for generating passive income from our crypto? An essential step is understanding a platform’s revenue and how much of it is shared with its users. You can then use this information to make an informed decision on where to invest your assets. Learn more on Binance.com How DeFi Protocols Function Decentralized finance (DeFi) protocols offer a range of financial services that operate via smart contracts. For example, a DeFi protocol could offer decentralized exchange services, loans, and liquidity pools, all run via smart contracts on a blockchain. All you need to access and use these services is a wallet and some crypto to cover your transaction fees. There’s almost no limit to the financial services DeFi can offer. You can access exchange services, money markets, derivatives, and savings products in the DeFi world. All of these services are permissionless and disintermediated in nature. How DeFi Protocols Generate Revenue DeFi services’ operating costs come from the computing power needed to run smart contracts. Users typically cover this amount with the gas fees they pay. However, there are also other additional costs for services such as development and maintenance.  DeFi protocols charge fees for their services to cover these costs and generate a profit. Decentralized exchanges (DEXs) Users swapping tokens on a DEX must pay a fee to utilize its services. For example, a trade may incur a 0.3% fee for the DEX operator's treasury or liquidity reserves. Lending protocols Users who borrow from a lending protocol must pay a borrowing fee. Some of this will go to paying the liquidity provider (other users who have provided capital), while the rest will go to the protocol. Why Revenue Is Important Beyond covering a protocol’s costs, improved revenue and profits can also benefit stakers. DeFi projects often maintain a revenue-sharing model via their governance token holders. They also may use revenues to increase APRs for stakers or liquidity providers on their platforms.  For DEXs, higher revenue can attract more users and in turn, improve liquidity. It can also boost APY for yield aggregators if they benefit from combining users’ staked funds for “bribes” as network validators. To summarize, we can describe a project’s inflows and revenues in a circular fashion: Popular projects attract liquidity, which attracts more users and forms a virtuous cycle. Higher trading traffic and liquidity lead to lower slippage and faster execution. More users improve legitimate trading volume, which leads to more revenue. Revenue is shared with staked users, which provides more liquidity. This loop also attracts users who want to engage in yield farming. Those looking to invest their money can increase their chances of maximizing their gains with compound interest. The more successful a project is, the more liquidity and, in turn, the more yield farmers it will attract. This process generates more revenue that can be used to improve a protocol’s offering. How to See How Much DeFi Protocols Generate DeFi operates on-chain, which means almost all transactional information — depending on the blockchain used — is verifiable. Blockchain explorer is easily accessible by everyone, but that doesn’t mean we can always understand the extent of a protocol’s revenue. There are a number of blockchain data aggregators that simplify the task so you can better understand each protocol’s revenue. With a Google search and some research from trusted sources, you should be able to find metrics, revenues, and stats on DeFi protocols’ revenues. These figures can help you make more informed investment decisions. Closing Thoughts Revenue is a crucial metric to study, whether you’re looking at a project’s real yield or basic fundamentals. You can wisely invest only if you understand how a protocol generates and shares its revenue. You can further understand the topic by diving into DeFi 2.0, yield farming, and general financial topics on Binance Academy. Further Reading What Is Yield Farming in Decentralized Finance (DeFi)? | Binance Academy What Is DeFi 2.0 and Why Does it Matter? | Binance Academy Introduction to DeFi | Binance Academy   Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.  
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

InstaForex Analysis InstaForex Analysis 09.03.2023 14:03
The situation in the cryptocurrency market remains tense due to internal and external processes. The first month of spring passes under the banner of a decrease in investment activity in the crypto market and an aggravation of negative sentiment around digital assets. Increasing macroeconomic concerns are adding to the tension in the market, and as a result, BTC continues to fall below the $22.5k level. Despite the deplorable situation, there is every reason to believe that the asset will be able to resume its upward movement. Fundamental background The likelihood of a local positive segment in the crypto market in no way cancels the fact that the industry is approaching a difficult period in the medium term. JPMorgan Chase CEO Jamie Dimon believes that the global trend in the global economy is inflation. This opinion is shared by Fed Chairman Jerome Powell, who hastened to soften his statements on March 8, after dropping global markets a day earlier. The head of the regulator said that inflation is declining, but at too slow a pace. Powell also noted that the cost of ignoring inflation now would be very high. The official said that the decision on the pace of rate hikes has not yet been made, and everything will depend on the economic indicators that will be released on the eve of the Fed meeting. A strong labor market and weak deflationary movement will trigger further key rate hikes. However, regardless of the upcoming events, the CEO of Bank of America said he expects a technical recession in the third quarter of 2023. BTC and Cryptocurrency Market Analysis Bitcoin maintains a high level of correlation with stock indices, and therefore is especially sensitive to any statements by the Fed. Also, the price of the cryptocurrency reacts sharply to the situation around SPX and DXY. For example, the last decline in Bitcoin occurred in parallel with the achievement of the DXY local high in January. These are interconnected things, since the U.S. dollar index is again a key component in predicting the price movement of other assets. Aside from the DXY, do not underestimate the sentiment within the crypto market. Santiment notes the growing negative sentiment on the market, and CryptoQuant, assessing funding rates, is betting on an increase in short positions in the near term. The number of Bitcoin whale addresses also continues to fall. The indicator fell to 1658, which is the minimum for the last three years. Glassnode sums up the results and states that the market is in a "transitional phase" and, despite the appearance of the first waves of investment injections, their significance for the market is too small. Meanwhile, Bitcoin has fallen past the $22k level, which is a bearish signal. For the first time in 5 days, the market has seen volume, but there is a sense that the price is going lower to accumulate liquidity before a shot upwards. Results The cryptocurrency market always plays against the expectations of the crowd, and when negative narratives are pumped up, a sharp upward spurt is quite likely. With this development of events, the main targets for the asset will be fixing above $22.5k–$23k. Holding this zone and subsequent consolidation will allow the asset to resume movement towards $24k–$25k. If the downward trend persists, BTC will retest the $21.3k level with a claim for the final consolidation below this level. In this case, the price will continue to fall to $20k–$20.3k, where the situation could be different.   Relevance up to 11:00 2023-03-10 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/337142
The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

Analysis Of Price Movements Of Bitcoin Currency

InstaForex Analysis InstaForex Analysis 10.03.2023 08:08
With the appearance of deviations between price movements on the daily chart of the Crypto Bitcoin currency with the Awesome Oscillator indicator and the appearance of the Bearish 123 pattern followed by the appearance of Ross Hook (RH), confirm that Bitcoin in the next few days will have the opportunity to fall below where the 13382.49 level will become the main target to aim for but if there is an upward correction which exceeds the level of 22011.83 it will make the decline scenario invalid and cancel itself. (Disclaimer)     Relevance up to 04:00 2023-03-13 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/121027
Bitcoin Is Strongly Bearish, So A Further Drop Is Natural

Bitcoin Is Strongly Bearish, So A Further Drop Is Natural

Ralph Shedler Ralph Shedler 10.03.2023 08:28
Bitcoin crashed and now is trading at 20,025 at the time of writing. Technically, the crypto dropped as predicted. Personally, I've talked about this scenario in my previous analyses. BTC/USD is strongly bearish, so a further drop is natural, it could reach new lows soon. Still, after its massive drop, we cannot exclude a minor rebound before extending its sell-off. BTC/USD dropped by 9.23% from yesterday's high of 21,824 to 19,810 today's low. The current sell-off forced the altcoins to fall as well. BTC/USD Dropped As Expected! From the technical point of view, BTC/USD registered an aggressive breakdown below the median line (ml) of the descending pitchfork confirming huge bearish pressure. You knew from yesterday's analysis that breaking below the median line activates more declines. Bitcoin ignored the former lows activating a larger downside movement. The lower median line (lml) stands as a potential downside target. BTC/USD Forecast! The bearish closure below the median line (ml) was seen as a new selling opportunity. A larger downside movement could be activated after making a valid breakdown below the lower median line (lml).   Relevance up to 08:00 2023-03-11 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315630
Cryptocurrency: There are a few signs that Bitcoin price may increase

Bitcoin Has A Strong Downside Momentum

Peter Jacimovic Peter Jacimovic 10.03.2023 09:29
Technical analysis: BTC/USD has been trading downside I expected and the price has reached 2 objectives at $21.500 and $20.700. Due to the longer-term downside trend and strong downside momentum I see potential for the further downside movement. Next downside objectives are set at $17.700 and $16.000 Macd and Stochastic oscillators are showing that sellers are in control .. Key resistance is set at the price of $22.000   Relevance up to 08:00 2023-03-11 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315642
Coinbase, Microstrategy, Block and cryptocurrencies rose despite market uncertainty

The New Bitcoin's Low Was Made At The Level Of $19,800

Sebastian Seliga Sebastian Seliga 10.03.2023 10:22
Crypto Industry News: Since the beginning of 2023, all reports about the Silvergate bank have been based only on negative information. The colossal losses in the last quarter of last year, numerous lawsuits from investors, an investigation by the US Department of Justice, the loss of key partners and a drop in stock prices finally led to what was inevitable. Silvergate Capital announced its liquidation on Wednesday. Right after New York's Singature Bank, the company was the second largest institution of this type for entities from the cryptocurrency sector. Up to a point, Silvergate's biggest client was the FTX exchange, which collapsed unexpectedly last November. This event greatly damaged the image of this industry in the media and led to the loss of investor confidence in trust institutions. "In light of recent industry and regulatory developments, Silvergate believes that an orderly liquidation of the Bank's operations and a voluntary liquidation of the Bank is the best way forward," the company's statement read. Silvergate has announced that all customer deposits will be fully repaid. This is a key element of their planned liquidation. However, the company did not explain exactly how it intends to settle accounts with investors. Last week, the cryptocurrency bank suspended the Silvergate Exchange Network service. It was a key product in their offer that attracted companies from the digital asset sector. Thanks to the Silvergate network, customers could make transactions in real time. Furthermore, the announcement of Silvergate's liquidation states that all other escrow services remain active. The company will contact customers as needed as a result of changes in this matter. Technical Market Outlook: The BTC/USD pair has made another swing low in the last 24h as the bears broken below the key technical support seen at the level of $21,429 (13th Feb low). The new low was made at the level of $19,800 (at the time of writing the article). The intraday technical resistance is seen at the level of $21,429. The negative bearish divergence on the daily time frame chart between the price and the momentum oscillator supports the bearish outlook for BTC in the coming days, however, the extremely oversold market conditions might indicate a possibility of a bounce towards the technical resistance in order to test it. The next target for bears is seen at the level of $18,360. Weekly Pivot Points: WR3 - $22,812 WR2 - $22,582 WR1 - $22,470 Weekly Pivot - $22,352 WS1 - $22,240 WS2 - $22,122 WS3 - $21,892 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-03-11 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315659
Bitcoin Is Again In The Framework Of A Strong Downward Movement

Bitcoin Is Again In The Framework Of A Strong Downward Movement

InstaForex Analysis InstaForex Analysis 10.03.2023 12:42
After a week of consolidation, Bitcoin is approaching the end of the trading week by updating the local day below the $20k mark. The cryptocurrency consolidated near the $22.5k level and was prone to decline, which happened. The fall in the price of Bitcoin was influenced by many fundamental and technical factors that formed a negative sentiment among investors. The current week showed that the period of local thaw is over and another storm is waiting for the markets in the near future. Fundamental background Let's start with the good news, which finally came from the labor market. Initial jobless claims in the U.S. reached 211,000 against the forecast of 195,000. This is a key point that indicates a gradual weakening of the labor market. If this develops into a trend, we can expect a more moderate monetary policy of the Fed regarding the key rate. That said, it is reported that there are 5 million more job openings in the U.S. than unemployment, so the formation of a sustained momentum may not take place. Jerome Powell's speech also did not reassure markets, and markets now expect a 50 basis point rate hike in March, to 5%–5.25%. Investors are confident that the rate will be raised by another 25 bps in May and June. A rate cut is not expected until January 2024. Investment giant Citi shares investors' forecasts and raises the peak of the key rate to 5.5%–5.75%. The coming months will be difficult for markets and especially high-risk assets due to large liquidity problems and falling quotes of instruments such as SPX and BTC. What is happening in the crypto market? The situation on the crypto market has also become more complicated due to the start of the procedure for the liquidation of the crypto-friendly Silvergate Bank. At the same time, Santiment reports that buy the dip sentiment is forming in the market, but despite this, the market capitalization may decrease even more. U.S. President Joe Biden also called for a 30% tax on all electricity used to mine Bitcoin and other cryptocurrencies. The politician also announced a revision of the tax policy for crypto traders who do not make a profit. It also became known that only 1.82 million BTC coins are at the disposal of Bitcoin miners. This represents about 9.4% of the total volume of cryptocurrencies in circulation and is the lowest in 2023. This indicates that the miners are selling their reserves. At the same time, there is a large outflow of BTC from centralized exchanges, which indicates the continuation of the accumulation period. Yesterday, about 6,760 BTC was withdrawn from the crypto platform, which is equivalent to $141 million. The total BTC supply on exchanges is 11.8%, the lowest since December 2017. BTC/USD Analysis As a result of March 9, Bitcoin formed the largest red candle since November 2022, which is ironic because it is the situation in the fall of 2022 that the crypto market returns to. The bearish volumes continued to rise today, causing the asset to break through the $20k level. It is noteworthy that we still do not see a strong buy-off of buyers, which indicates an update of older price lows. Technical indicators are gradually falling into the oversold zone, and BTC is moving to storm $19.4k and $18.9k. The key support zone within the current decline is the $18.3k level, where there was a serious buying of bulls. With only $323 million liquidated in the last 24 hours, the big players will allow the price to drop lower to collect more substantial liquidity. Results Bitcoin is again in the framework of a strong downward movement, intensified by negative sentiment, internal market problems and another deterioration of the macro situation. Therefore, it is likely that a deeper correction awaits us before buying off and trying to recover above $20k.   Relevance up to 09:00 2023-03-11 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/337259
Crude Prices Are Rallying After A Mixed Jobs Report Sent The Dollar Lower

Crude Prices Are Rallying After A Mixed Jobs Report Sent The Dollar Lower

Ed Moya Ed Moya 11.03.2023 10:08
US stocks settled lower in a volatile session as traders digested a cooling wage/ robust job growth report and SVB contagion risks. This was supposed to be an easy Friday with one massive jobs report, but SVB, a large bank with exposure across a range of sectors failed and triggered distress for several other smaller banks.  At the end of the day, traders are seeing this cooling/hot payroll report as confirmation that Fed policy is restrictive and that the their tightening work is almost done.  If we didn’t have SVB’s failure and contagion risk the case for a half-point rate hike would be valid. The focus will fall on SVB contagion risks and Tuesday’s inflation report.  As long as we don’t see a scorching hot inflation report, the Fed should continue with its quarter rate point hiking pace.   US data The US economy added 311, 000 jobs in February, more than both the consensus estimate of 225,000 and the whisper number of 250,000.  The NFP report had a strong headline beat, but the rest of the report supported the idea that the labor market is ready to cool.  Wage pressures came in much softer than forecasts and the unemployment rate rose from 3.4% to 3.6%.  Fed rate hike odds went on a rollercoaster ride post NFP as traders now have the March 22nd meeting as a coin flip between a 25bp rise or half-point increase and are also pricing in a rate cut by the end of the year.  The peak is in place and it seems traders got a preview about how this tightening cycle will start to drag down economic growth.  SVB SVB Financial Capital’s demise is bad news for many small tech companies as they were a go-to lender in silicon valley.  After Venture Capitalists decided to pull their money, SVB ended up losing ~$2 billion from selling securities as they rushed to secure funds, which is what triggered this bank run.     Startups and debt refinancing are some of the biggest financial risks that traders are analyzing, but this pressure on small banks appears it should remain contained and not weigh on the big banks. The KBW bank index had its worst drop since early in the pandemic and the contagion fears dragged down Comerica, Keycorp, and US Bancorp.  Signature Bank Investors are skeptical to hold anything crypto related in this market environment.  Banks vulnerable to financial instability risk and crypto exposure are easy targets and that has some traders eyeing Signature Bank. There are not a lot of publicly trade banks with significant crypto exposure, so the ones that have some are seeing selling pressure.  Oil Crude prices are rallying after a mixed jobs report sent the dollar lower as optimism grew that the Fed won’t have to be as aggressive with the end of its rate hiking campaign. Oil is quietly rallying as parts of Wall Street enter panic mode following small banking contagion risks.  It appears that parts of the economy are breaking and that is good news for bets that the Fed won’t have to accelerate their tightening pace.   Gold Gold is surging as Fed rate hike bets get scaled down and as SVB contagion risks trigger some safe-haven buying. The bond market is now starting to price in rate cuts by the end of the year and that is triggering a major collapse with yields.  The two-year yield posted its biggest two day decline since 2008.  Gold is becoming everyone’s favorite trade again and that could continue as liquidity risk concerns won’t be quickly answered for that corner on Wall Street.    Bitcoin All the headlines just turned bearish for Bitcoin.  The list of bearish crypto drivers are plentiful: Fallout from SVB as many crypto companies depend on small banks, mining might be harder if the White House pushes through a new 30% tax, NY crypto crackdown now covers KuCoin and after Huobi token’s flash crash.  Bitcoin was in a comfortable trading range and that just broke, which has many investors nervous that we could see a retest of the October lows. Bitcoin fell below the $20,000 level and has many traders nervous over what might happen over the weekend.  Crypto volatility appears to be back as Bitcoin’s range has been breached.  The $18,400 level is key support, but if that breaks momentum selling could look to target a retest of the October lows.   This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
There Are Many Ways To Join A Crypto Community

There Are Many Ways To Join A Crypto Community

Binance Academy Binance Academy 12.03.2023 10:31
TL;DR The crypto and blockchain world can be intimidating for those wanting to start their journey. The ever-evolving nature of blockchain and the sheer amount of information often overwhelm beginners. Finding a community of like-minded people can be a great way to get you started in the crypto space. Introduction Web3 is a term describing the next iteration of the World Wide Web. It differs from its predecessor, Web2, as it’s built on fundamental principles of decentralization, trustless collaboration, censorship resistance, and ownership. Web3 applications allow users to interact or exchange data without the need for intermediaries. While we aren’t exactly living in a Web3 world quite yet, there’s a community of people that are aiming to make that happen. Developers, investors, influencers, and other crypto enthusiasts have been working on a variety of Web3 projects, from infrastructure to decentralized apps (DApps). Crypto communities are composed of people who are passionate about crypto. Community members could bond over their love for NFTs, DeFi, Layer 2 solutions, and all things crypto-related. Crypto communities are essential for sharing knowledge, and blockchains like Bitcoin, BNB Chain, and Ethereum typically have their own communities. Relatively technical concepts, such as mining or Proof of Work (PoW), have become common knowledge thanks to the efforts of these crypto communities in creating more accessible information. Through their collective advancement of knowledge and education, crypto communities have proven to be a significant driving force for the blockchain industry. Due to the borderless nature of crypto, communities often exist online and communicate through discussion forums, chat rooms, and social media. For example, the crypto Twitter community is a niche group of investors, developers, companies, and influencers, each championing their own crypto cause on the platform. Staying updated Joining a crypto community is an excellent way to stay updated on new trends, technologies, concepts, products, and tools. This allows you to make more informed decisions and participate in time-sensitive events. Finding a mentor Throughout your research, have you ever encountered complex technical papers or Web3 publications? Being in a community of developers, crypto entrepreneurs, and other experts can help make certain topics easier to understand and research. Gaining an edge As part of an active community, you are given an edge by having access to the latest information that is yet to be widely known. You can gain insight into developing trends and learn from people with similar experiences. Additionally, a community's collective wisdom can help you make better decisions, network with other professionals, and stay updated on industry developments. Customer service Some communities have official administrators and managers. Rather than struggle alone, investors can receive direct feedback and assistance from members and administrators alike. Starting a business Informal conversations between community members could be the driving force behind new innovations. You can share business insights, discuss opinions, and exchange information through casual chats. Within a community, you might even find your future team members or business partners. Sense of belonging Are you team Layer 1 or Layer 2? Do you have a favorite NFT artist? Even if you’re the only crypto nerd in your friend circle, you’re bound to find others like you. Explore projects and forums As mentioned above, most projects and blockchains have their own established communities. To be part of the action, visit their websites or socials – including Telegram, Twitter, Discord, or Facebook. Alternatively, if you’re entering the crypto space alone with no specific community in mind, Reddit could also be a place to start. Reddit is an online forum where crypto enthusiasts can read crypto news, view user-submitted analyses, and participate in discussions. Some of the crypto communities on Reddit include /r/bitcoin, /r/btc, /r/binance, and /r/cryptocurrency. Be vocal Engaging in online conversations with others through the comments section of relevant crypto posts can be an easy way to find like-minded people. Share your opinions and interests; start engaging in discussions and activities. Enroll in classes Look for a Web3 course that interests you. Online or offline, the classroom can be a great place to start meaningful discussions about Web3 and form new connections.  Meetups Attending a blockchain or crypto-related meetup, participating in an online discussion forum, or joining a social media group are great ways to connect with knowledgeable people. Some blockchain events facilitate networking parties, business matchmaking, and AMAs. Participating in these can help you gain exposure and meet new community members. Contribute to a project or cause Find a community that thrives on participating in the development of crypto. The blockchain ecosystem is collaborative by nature – its tenets of borderlessness, open-source, decentralization, and trustlessness all help to foster collaboration.  Many projects in the crypto space adopt an open-source approach, where the source code used to build their technology is available to the public and can be modified to a degree. This allows community members to provide solutions and innovations faster. One such community is GitHub, an online platform that facilitates collaboration between developers and users. It allows developers to share code and work together on open-source projects. Users can also discuss ideas, give feedback, and offer assistance. Platforms like GitHub also organize events such as hackathons and meetings to promote community involvement. It’s also not uncommon for projects to launch incentive-based events called bounty programs to encourage people to contribute to their growth. What Are the Risks in Crypto Communities? Like any other online community, crypto communities come with their own risks. One of the main risks associated with crypto communities is the potential for fraud. As mentioned, communities are often open to anyone. This means that scammers and bots can join the group. For example, you may receive a direct message from someone claiming to be a group admin. Do take extra care to verify that this is not a scammer trying to get your money. Scammers may try to get your personal information or private keys through a malicious link or other types of cryptocurrency scams. There is also the risk that the community will differ from what you initially expected. For example, the community may be based solely on hype to drive up token prices. This can create a culture of greed and speculation that may differ greatly from the original reason you joined the community. Similarly, crypto communities can be filled with misinformation, making it difficult to separate facts. Therefore, be careful when making investment decisions based on community conversations.   Conclusion Depending on your interests and experience, there are many ways to join a crypto community. Whether pursuing a personal financial goal, a new business venture, or an unfamiliar topic to learn, having a community to collaborate with can be helpful. Share insights, form a network of like-minded individuals, and grow from each others’ mistakes. You could even find your future business team! From bouncing ideas off each other to providing moral support, having people to help you is crucial for success. Further Reading How to Set Personal Financial Goals and Reach Them Crypto vs Stocks: What Is The Difference? Top 7 Technologies that Power the Metaverse What Is Web 3.0 and Why Does It Matter? Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions, and Binance Academy is not liable for any losses you may incur. Not financial advice. For more information, see our Terms of Use and Risk Warning.
Bitcoin needs to stay above $29k by the end of today's trading session to strengthen its positions and continue moving towards $30k says InstaForex's Petrenko

Bitcoin Is Showing A Is Good Sign For The Potential Downside Rotation

Peter Jacimovic Peter Jacimovic 13.03.2023 10:13
Technical analysis: BTC/USD has been trading upside on Friday and I see that key Fibonacci resistance Agreement zone at $22.850 held this morning, which is good sign for the potential downside rotation. Due to the strong bearish trend on longer frames and test-reject of the key Fibonacci resistance zone, I see potential for the further downside movement. Downside objective is set at $19.600 Stochastic and MACD oscillators are extreme bull reading and fresh bear cross, which is good sign for the downside movement. Key resistance is set at $22.850   Relevance up to 09:00 2023-03-14 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315820
Bitcoin Has Made A Dynamic And Aggressive Reversal

Bitcoin Has Made A Dynamic And Aggressive Reversal

Sebastian Seliga Sebastian Seliga 13.03.2023 11:00
Crypto Industry News: The U.S. Securities and Exchange Commission yesterday rejected VanEck's application to create a Bitcoin spot exchange product (ETP), Reuters reported. The SEC has fundamentally rejected a change that would allow the company to establish trust in Bitcoin. Commissioners Mark Uyeda and Hester Peirce immediately issued a statement criticizing the Commission's decision not to approve the listing and trading of the VanEck product. The SEC opined that because there is no primary regulated market, VanEck does not have a comprehensive supervisory sharing agreement with a regulated market of significant size related to spot bitcoin. According to the commissioners, the SEC has not previously required any link between the spot and futures markets for other commodity-based ETPs: "It is also clear that the Commission uses an extremely onerous definition of the word 'significant' in its analysis of Bitcoin ETP spot applications," the letter reads. They added that the SEC is legally required to explain changes to its policy for approving commodity-based ETPs. VanEck has a financial product related to Bitcoin futures. In 2017, the company began seeking approval for the product. The SEC has been delaying for months before making a decision on the company's current, third application for an ETP spot. Technical Market Outlook: The BTC/USD pair has made a dynamic and aggressive reversal from the yearly low located at the level of $19,572 and is currently testing the 50 DMA seen at $22,059. The next target for bulls is seen at the level of $22,755, because this is the key short-term technical resistance for bulls. The momentum on the daily time frame chart remains positive, which supports the short-term bullish outlook for BTC. Weekly Pivot Points: WR3 - $24,010 WR2 - $23,176 WR1 - $22,860 Weekly Pivot - $22,341 WS1 - $21,967 WS2 - $21,506 WS3 - $20,672 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 10:00 2023-03-14 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315832
Bitcoin is trying to resume its upward movement

Bitcoin is trying to resume its upward movement

InstaForex Analysis InstaForex Analysis 13.03.2023 14:26
After a brief consolidation early last week, the cryptocurrency market has made several impulse price movements. The spikes in volatility have been linked to macroeconomic developments that continue to keep investors at bay. Following the results of Thursday and Friday of last week, Bitcoin made a downward breakdown of the $22k level and reached the level of $19.6k. Subsequently, we saw a quick consolidation and a strong reaction from buyers, which led to the full recovery of Friday's price drop. Bitcoin is approaching the new trading week on a bullish note and increased buying volumes. It is likely that the cryptocurrency and the entire market will continue its upward movement, but the fundamental background remains tense. Fundamental news background The main factor that provoked a surge in volatility was liquidity problems at the crypto-friendly bank Silicon Valley. The likely collapse of the large bank hit one of the largest stablecoins USDC, as well as DAI, which caused a local panic in the crypto market. The Fed, together with the U.S. Department of Treasury, announced emergency support for deposits for SVB and other banks in a difficult situation. The probable cause of liquidity problems for banks may be the Fed's hawkish policy, which contributed to a decrease in the yield of bonds purchased at a neutral rate. This means that in particularly difficult times, banks can rely on much smaller amounts of liquidity than they initially had due to the rapid deterioration of the monetary situation. CNN analysts believe that U.S. banks have unrealized losses of $620 billion. At the same time, there are relatively positive signals from the labor market, where the reality turned out to be worse than forecasts for the first time in a long time. As a result, BBG reports that the latest unemployment report pushed the likelihood of a 0.50% rate hike in March down to 50%. This news is "positive" only in quotes, because everything that happens has one key reason—inflation. And if the indicator does not fall significantly by the end of February, then the situation in both the U.S. economy and the crypto market will deteriorate significantly. BTC/USD Analysis Bitcoin managed to defend the key support level of $20k and recover above $22k. This is a positive signal indicating the general stabilization of the situation and the fundamental interest of investors in the cryptocurrency. Despite the temporary easing of pressure on the crypto market, BTC remains in close relationship with the SPX index. JPMorgan analysts are sure that in the next three months the stock market may lose about 20% of capitalization, and Bitcoin will expect similar dynamics. Successfully raising liquidity below $22k has accumulated over $500 million in liquidated positions in less than a week . This allowed the buyers to consolidate above the key $21.6k resistance level. The asset returned to $22.4k and is trying to resume its upward movement to the $22.6k–$22.8k levels for further consolidation above $23k. However, as of writing, BTC was facing strong seller resistance, as evidenced by a large upper wick. The 4H chart shows that the sellers have seized the initiative locally, and therefore, the buyers will try to stabilize the price near the $21.6k–$22k levels. Bitcoin needs a pause to accumulate volumes, so in the near future, we should expect local consolidation near $22k. Results The situation on the crypto market returned to normal after the panic that arose at the end of last week. The fundamental threat remains, and in the long run, U.S. government agencies will not be able to put out all the fires. Given this, we should expect further bursts of volatility and sharp price movements within a wide area of $20k–$24.4k   Relevance up to 10:00 2023-03-14 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/337406
Crypto: according to Craig Erlam, there seems to be a gap between reality and prices

Technical Outlook Of Bitcoin: Bitcoin Has Been Trading Upside

Peter Jacimovic Peter Jacimovic 14.03.2023 08:57
Technical analysis: BTC/USD has been trading upside but I found extreme bullish condition (overbought) and test of key resistance zone at $25.000 Due to the extreme bullish condition and test of the key resistance zone, I see potential for the downside movement today. Downside objective is set at the price of $22.600 Stochastic and MACD oscillators are showing fresh downside cross and overbought condition, which is another good sign for the further downside movement. Confirmation for the downside will be if the price can break mini upside channel.... Key resistance is set at the price of $25.000     Relevance up to 08:00 2023-03-15 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315971
The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

Sebastian Seliga Sebastian Seliga 14.03.2023 09:03
Crypto Industry News: American experts disagree on how bitcoin will behave in the broader perspective after the collapse of Silicon Valley Bank, Silvergate and Signature. Robert Kiyosaki, a well-known author, is of the opinion that "buy as much as possible". The famous author of the global bestseller "Rich Dad, Poor Dad" reiterated his recommendation to buy more gold, silver and Bitcoin. Kiyosaki also stressed that in the current situation, the Fed will inject a lot of "fake money" into the US economy. "The bailout has begun. Lots of fake money will be injected into the sick economy. I still recommend the same solution. Buy more gold, silver and bitcoin. Hold on tight. Crash landing ahead," Kiyosaki wrote on his Twitter. Kiyosaki calls the dollar "fake money" because it is backed by US government credit, rather than being tied to "real money" like gold, as he explained in an earlier statement. On Sunday, the U.S. Treasury Department, the Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) issued a joint statement saying depositors of Silicon Valley Bank and Signature Bank will have access to all of their money and will not suffer any associated losses. Technical Market Outlook: The BTC/USD pair has made a dynamic and aggressive reversal from the yearly low located at the level of $19,572 and is currently approaching the monthly and weekly high seen at $25,257, which is the next target for bulls. Because this is the key short-term technical resistance, any sustained breakout above this level will change the mid-term sentiment on the cryptocurrency market for more bullish. The momentum on the daily time frame chart remains positive, which supports the short-term bullish outlook for BTC, however the market conditions seems to be extremely overbought now, so a pull-back towards the intraday technical support is welcome. Weekly Pivot Points: WR3 - $24,010 WR2 - $23,176 WR1 - $22,860 Weekly Pivot - $22,341 WS1 - $21,967 WS2 - $21,506 WS3 - $20,672 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 2023-03-15 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315989
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

Binance Academy Binance Academy 14.03.2023 09:18
This article is a community submission. The article is contributed by Derek Yoo, the CEO of PureStake, a development team for the Moonbeam platform for cross-chain connected applications. TL;DR  Cross-chain interoperability enables applications to communicate and interact with each other across different blockchain networks. This allows for the transfer of data and value between disparate systems, providing increased connectivity and seamless integration.  What Is Interoperability in Blockchain?  Interoperability in the context of blockchains refers to a blockchain’s capacity to freely exchange data with other blockchains. Cross-chain interoperability allows smart contracts on different chains to communicate with each other without having to send the actual tokens between chains. For example, assets, services, and transactions are recorded on a blockchain as documentation. Whatever activity takes place on one blockchain can be represented on another blockchain with the right interoperability solution. This means applications work with any asset or service regardless of which blockchain they are on. Why Is Interoperability Important?  Blockchains today are in a similar position as the early days of the internet: there are many isolated ecosystems unable to exchange information.  This lack of interoperability and connectivity poses a significant obstacle to the broader adoption of blockchain technology, as it prevents the seamless flow of data and value across different networks.  From a developer's perspective, each deployment constitutes an isolated and independent instance, resulting in the backend contracts being unconnected and unaware of each other. For example, a decentralized exchange (DEX) DApp may need to be deployed on Ethereum, BNB Chain, and Polygon networks individually. It leads to each version of the DApps being isolated.  As a user, the multi-deployment approach can present several challenges. It doesn't allow for the seamless transfer of tokens from one blockchain to another. This is usually done in a process in which assets are destroyed on the source blockchain and minted again on the destination blockchain using a third party bridge. The process can be time-consuming and confusing, leading to fragmented data islands and poor user experience. The security risks associated with holding assets across multiple blockchains can also be significant, opening the door for hacks and potential loss of funds. Cross-Chain Interoperability Solutions  Cross-chain connectivity is improving as developers build solutions making it easier to connect and transfer data and value across various networks. This can unlock new possibilities for more user-friendly and interconnected blockchain applications. There are different approaches to improving cross-chain interoperability. Here, we list some examples to showcase a wide array of solutions.  Chainlink Chainlink is developing the Cross-Chain Interoperability Protocol (CCIP), which is an open-source standard for enabling cross-chain communication, including messaging and token transfers. The goal of CCIP is to enable a universal connection between hundreds of blockchain networks using a standardized interface. It has the potential to reduce the complexity of building cross-chain applications and services. Wormhole The Wormhole protocol is a generic interoperability protocol that allows for the transfer of tokens and messages between different blockchain networks. Messages on a source chain are observed by a network of guardians who verify and facilitate transfers to target chains.  Developers using Wormhole can build cross-chain decentralized applications called xDapps. LayerZero LayerZero is an omnichain interoperability protocol for lightweight message passing between blockchains, providing secure and reliable message delivery with configurable trustlessness.  LayerZero's ultra-light nodes (ULN) are smart contracts that provide block headers of other bridged chains to improve efficiency. The ULN is only triggered on-demand and the smart contract communicates with an oracle and a relayer through the LayerZero endpoint. This design allows for lightweight and efficient cross-chain communication. Hyperlane Hyperlane is a delegated proof of stake (PoS) chain protocol that validates and secures cross-chain communication via configurable consensus methods. In Hyperlane's network, each validator is responsible for validating every chain that Hyperlane is connected to, ensuring that cross-chain communication is secure and accurate. Inter-Blockchain Communication Inter-Blockchain Communication (IBC) is the standard protocol for blockchain interaction in the Cosmos Network, which is designed to enable interoperability between different blockchains. IBC defines a minimal set of functions that are specified in the Interchain Standards (ICS), which define how blockchains can communicate and exchange data with each other. One example is Osmosis, a DEX that enables users to swap tokens between different blockchains. Osmosis utilizes the IBC protocol to enable seamless swaps of tokens from different chains, allowing token holders to directly benefit from the interoperability that IBC offers. Avalanche Warp Messaging Avalanche Warp Messaging (AWM) is designed to be flexible and allow developers to create their own messaging specifications to power communications. The AWM specification itself requires an array of bytes, an index of who participated in the BLS Multi-Signature, and the BLS Multi-Signature. AWM makes it easier for developers to build powerful DApps on the Avalanche network. BTC Relay BTC Relay is a chain relay to be deployed in a live setting. It enables the submission of Bitcoin block headers to Ethereum. By doing so, it provides a way to verify the inclusion of Bitcoin transactions on the Ethereum blockchain, creating a trustless bridge between the two networks. Cross-Consensus Message Format The Cross-Consensus Message Format (XCM) allows different consensus systems to communicate with each other on Polkadot. With the successful merger of XCM version 3, developers can build applications that enable bridges, cross-chain locking, exchanges, NFTs, conditionals, context-tracking, and more.  For example, the Moonbeam XCM SDK primarily supports XCM token transfers, allowing developers to interact with the Polkadot network using XCM. Axelar Axelar offers a solution for cross-chain communication through the use of the General Message Passing protocol, allowing developers to build decentralized applications that can operate across multiple blockchain networks. Axelar also provides secure interchain communication through delegated PoS (dPoS) for users bridging tokens. For example, Axelar's bridging app, Satellite, connects the Ethereum-based BUSD to Cosmos, enabling interoperability between the two ecosystems. Benefits and Limitations of Interoperability The benefits of blockchain interoperability is clear. Users can potentially conduct transactions across different blockchain networks seamlessly, without the need for centralized intermediaries. It also reduces fragmentation, improves interoperability within the broader blockchain ecosystem, and opens up new business boundaries and models. There are some limitations to these solutions, however. Different blockchains may have different security solutions, consensus algorithms and programming languages, which can add to the technical complexity. These solutions can potentially increase the probability of attacks and present new governance challenges among different blockchain networks. Closing Thoughts Cross-chain interoperability solutions have the potential to significantly improve the efficiency and functionality of blockchain networks by enabling communication, data, and value transfers among different networks.  The future development of cross-chain interoperability is expected to foster greater innovation between different blockchain networks and new possibilities for blockchain applications. These can lead to a more connected and user-friendly blockchain ecosystem. For widespread use, however, various cross-chain interoperability solutions need to achieve more stability and security. It’s unclear which solution will provide the most efficient, stable and secure tools.   Further Reading: What’s a Blockchain Bridge? What Is Layer 0 in Blockchain? What Is Layer 1 in Blockchain? Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.    

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