Author: dfmines

Meta’s Reality Labs division posted a $2.9 billion loss in Wednesday’s Q1 earnings call but Zuckerberg remains optimistic about future profitability from the metaverse.

Hello, I'm planning to use MyCrypto wallet desktop version, is it safe? submitted by /u/Kimo01988 [link] [comments]

The king of cryptocurrency is suffering another meltdown at a 3.3% drop in just 24 hours. Bitcoin is currently trading at around $38,210 which is the lowest so far since March of this year when US President Joe Biden signed an executive order on crypto regulations. Although the BTC price went up at $40,800 on Tuesday, it slid momentarily afterward. Suggested Reading | Bitcoin (BTC) Dips Below $40,000 Over Ukraine And Possibility Of Fed Rate Hike Amazon Denies Speculation About Accepting BTC Payments Amazon’s retraction against the mass speculation that the retail giant will be accepting BTC payments was the main causative factor of the sudden drop. Ether was even pushed further down as well. BTC price went straight up when Amazon announced a job advertisement connected to crypto. However, a couple of hours later, an Amazon spokesperson denied claims that Bitcoin will be added as a payment method this year. Bitcoin peaked at around US$40,545 as the investors rushed with their bets with the speculation of a bearish stride. There were over $950 million of crypto shorts liquidated which is the highest since May of the current year. The Multi-Wave Correction The volatility experienced by Bitcoin and all other cryptocurrencies is referred to as a multi-wave correction. It peaked around April and it’s expected to rebound to a maximum of $45,000 before it slides again. The rollercoaster ride of BTC is part of that correction. The crypto industry suffered a massive decline after reaching a record high of $65,000 because of a bombardment of environmental and regulatory issues. BTC total market cap at $751.41 billion on the daily chart | Source: TradingView.com This week’s frantic moves of BTC and other tokens are expected. Meanwhile, investors are looking at the next big wave that can break the BTC out of its sob trading range of a meager $30,000 to $40,000 in the past few months. Suggested Reading | Dogecoin (DOGE) Struggles, Drops 9% After Elon Musk Twitter Buyout Where’s Bitcoin Headed? The risk level is a bit higher this week because the Federal Reserve is set to announce its decision come Wednesday. More so, news on the investigation regarding alleged bank fraud committed by Tether executives has put the crypto space hanging. BTC investors have been grappling with inflation, environmental, political, and economic concerns, especially with the Fed. The inflation rate that happened in March this year is by far the worst inflation rate compared to what transpired in 1981. Multiple factors combined have been impacting volatility in both the stock and crypto markets. The current price range is said to be a middle ground for Bitcoin as its performance will determine how everything will play out in the next few days. Would it be bullish or bearish? BTC performance at this range will give people a clue about where it’s going. Featured image from The Facts Chronicle, chart from TradingView.com

Ethereum was trying to move on the upside, although modestly. The price action has been tight as the range that ETH was trading remained between $2800 and $2900 respectively. Prices have been consistently trying to restest the $2900 mark but have faced rejection from the aforementioned level. Sellers currently have pushed the price beneath the $2900 mark. Over the last week, ETH lost over 7%, however, in the past 24 hours the king altcoin showed signs of recovery. The coin registered a 1% jump in prices. This development could make it possible for the bulls to re-enter the market. It is a good sign that the bulls have been buying at lower price levels for the altcoin. This signals that prices might shoot up over the upcoming trading sessions. Ethereum Price Analysis: One Day Chart Ethereum was priced at $2871 at the time of writing. Its immediate mark of resistance was at $3028, over the past immediate trading sessions ETH lost vigour and got rejected from the $3000 price mark. The coin depicted signs of positive price action as the volume traded was seen in green as the closing price was higher than the previous session. In case ETH manages to push its way up then it could break past the $3000 mark and trade close to $3263. On the flipside, the local support level for the coin was at $2794 and failing to trade over which ETH would trade at $2437. The king altcoin depicted an ascending triangle, which is characterised to be bullish. An ascending triangle positive continuation pattern. It has a rising lower trendline and a flat upper trendline. Buyers at the moment have tried to overpower sellers as ETH continues to make higher lows. Related Reading | Why This Ethereum Indicator Points to Bullish Continuation Technical Analysis Ethereum’s brief recovery could try to push prices above the 20-SMA line. At the moment, ETH was trading beneath the 20-SMA line which signifies sellers have taken over the market in the short term. It is to be noted that buyers had pushed ETH’s prices to trade above the 20-SMA just 24 hours back even when prices were dropping. This reading meant that buyers have been aggressively buying the asset at lower price levels in anticipation that prices would increase. On the Relative Strength Index, even though the indicator was placed below the half-line it noted a slight uptick. An uptick reconfirms the possibility of buyers returning to the market. Ethereum’s choppy prices have reflected on the Awesome Oscillator. The indicator depicts price momentum, however, despite flashing red histograms ETH displayed signs of recovery. The red histograms were declining in size indicating that ETH might climb over the next trading sessions. Chaikin Money Flow indicated that capital inflows were more than outflows despite Ethereum struggling to break past the $3000 mark. This corresponds with the above indicators that despite current bearishness, ETH is eying its immediate resistance mark. Related Reading | Institutional Investors Bearish On Bitcoin, Ethereum. Here’s What They’re Buying Featured image from UnSplash, chart from TradingView.com

Deutsche Bank’s economists have warned that the U.S. will suffer a major recession next year. However, several other major investment banks, including Goldman Sachs and JPMorgan, are less pessimistic about the future outlook for the U.S. economy. Major US Recession Incoming, According to Deutsche Bank’s Economists Deutsche Bank has predicted a deeper downturn than its […]

So looking at the most recent chart https://preview.redd.it/l7536kjzq5w81.png?width=1477&format=png&auto=webp&s=7a73ced72c5dd71b2a2fe70014364167a8003db1 We are bouncing off a major line, basically broken out of a channel towards the downside, and the overall mood + gov isn't looking good. I'm not saying it can't or won't bounce back. But the more we go, the more I'm thinking we are in another…
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Welcome to the Daily Discussion. Please read the disclaimer and rules before participating.   Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could…
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Bitcoin continues to underperform as a general “risk-off” sentiment has investors driving toward gold as a safe haven asset. Not Risking It Concerns about the Russo-Ukrainian war continue. The U.S. inflation struggles at a four-decade high and Fed rate hike fears prevail. The uncertainty extends to the world economy as a recession is expected instead of a recovery. The IMF’s managing director Kristalina Georgieva called it “a crisis on top of a crisis.” “The war is a supply shock that reduces economic output and raises prices. Indeed, we forecast inflation will accelerate to 5.5 percent in advanced economies and to 9.3 percent in emerging European economies excluding Russia, Turkey, and Ukraine. ” The IMF stated last week. Reuters recently quoted Commerzbank analyst Daniel Briesemann, who talked in a note about the factors that have “lent buoyancy to gold in recent days,” mentioning the “strong buying interest on the part of ETF (Exchange Traded Fund) investors” and news about the Ukraine war. “Russia appears to be preparing to launch a major offensive in the east of the country – that is generating considerable demand for gold as a safe haven,” the analyst said. This summarizes the “risk-off” sentiment at the moment. As expected, equities suffer as investors are selling risky assets and purchasing the ones negatively correlated to the traditional market. Thus, the crypto space is struggling alongside de stocks market and gold is rising. Bitcoin Outperformed By Gold Data from Arcane Research’s latest weekly report notes that it has been a gloomy year for the “digital gold.” In the first three weeks of 2022, Bitcoin sank 25% and it is still down by 18% in the year despite its slight recovery. Similarly, Nasdaq records a 19% decline in the year, having underperformed against bitcoin “by a small margin,” notes the report, adding that “This is surprising given that bitcoin has tended to follow Nasdaq, albeit with higher volatility.” The general fear over geopolitical and macroeconomic uncertainty has given gold the safe-haven asset spotlight once more. The asset outperformed all the other indexes seen below with a 4% gain. Meanwhile, the currency market is performing with “the same risk-off patterns.” The Dollar has been proving its “risk-off” dominance as the US Dollar Index (DXY) is up 7%. The Chinese yuan has taken a hit over concerns about the country’s “zero-covid” policy –which creates issues for the global supply chain– and the slowing down Chinese economy. In contrast, investors have been running to the US Dollar for safety. Bitcoin supporters usually refer to the coin as “digital gold” alleging it is a safe haven asset, and this narrative had held well while BTC had been “uncorrelated with most other major asset classes,” but the tide is shifting with the 2022 scenario as investors are rather placing the coin “into the risk-on basket”. A previous Arcane Research report indicated that bitcoin’s 30 -day correlation with the Nasdaq is revisiting July 2020 highs while its correlation with gold has reached all-time lows. A pseudonym traded noted that “As Bitcoin adoption goes on and more institutional investors enter the market, the correlation of BTC and stocks becomes more and more tight. That is a paradigm that the crypto world struggled to come to terms with in the past but is now more real than ever. A healthy stock market is good for Bitcoin.” Meanwhile, the general sentiment of traders seems to be bearish, with many saying that the coin could visit the $30k level soon.

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Notifi Network has integrated with the Solana Realms DAO platform to help increase governance participation rates by expanding notification services.