Author: dfmines

submitted by /u/nicky_papagiorgio [link] [comments]

Bitcoin extended increase above the $44,000 level against the US Dollar. BTC is correcting losses, but it might find support near the $42,000 support zone. Bitcoin climbed further higher above $44,000 before it faced sellers. The price is trading near $42,750 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $43,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is correcting gains, but dips could be limited below the $42,000 level. Bitcoin Price Corrects Gains Bitcoin price extended increase above the $43,200 resistance zone. BTC even spiked above the $44,000 level on two occasions before the bears took a stand. A high was formed near $44,420 and the price is now correcting lower. There was a move below the 23.6% Fib retracement level of the key increase from the $39,660 swing low to $44,420 high. Besides, there was a break below a key bullish trend line with support near $43,250 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading near $42,750 and the 100 hourly simple moving average. On the upside, an initial resistance is near the $43,000 level. Source: BTCUSD on TradingView.com The next major resistance is near the $43,200 level. A clear move above the $43,200 level might send the price towards the $44,000 resistance. Any more gains may perhaps call for a test of the $44,400 resistance zone. The next major resistance is near the $45,500 level, where the bears might appear. More Losses in BTC? If bitcoin fails to start a fresh increase above $43,200, it could continue to move down. An immediate support on the downside is near the $42,500 zone. The first major support is seen near the $42,000 zone. The 50% Fib retracement level of the key increase from the $39,660 swing low to $44,420 high is also near the $42,000 level. A downside break below the $42,000 support zone could lead the price towards the $41,500 level. Any more losses might push the price towards the $40,500 support zone in the coming sessions. Technical indicators: Hourly MACD – The MACD is slowly losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $42,500, followed by $42,000. Major Resistance Levels – $43,200, $44,000 and $44,400.

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Tether has been one of the biggest question marks in crypto in recent years, and that hasn’t changed as adoption has grown. Decentralization has been a hot topic, and while the word itself isn’t mentioned once throughout Satoshi Nakamoto’s Bitcoin whitepaper, it is a core identity that has been latched on to bitcoin, and crypto in general, since near inception. Of course, decentralization is the core component of just one of many question marks around Tether. However, this week the spotlight is on just that, as Tether announced that roughly $160M worth of stablecoin USDT would be frozen. Let’s look at what we know. Tether Faces Scrutiny Around Decentralization Three Ethereum-based USDT addresses, holding north of $150M, were frozen this week, according to Tether officials, as the blockchain cited the move due to “a request from law enforcement.” The blockchain has now blacklisted over 560 addresses since November 2017. It was the first blacklisting maneuver from Tether in 2022. Tether representatives have previously stated that “through the freezing of addresses, Tether has been able to help recover funds stolen by hackers or are compromised,” leading to heated debates in the crypto community – one that has largely embraced decentralization – over what degree of power blockchain authorities should be able to weild over the network. Long-time crypto loyalists are, generally speaking, not ecstatic about Tether’s level of control of the market – even if the end result is to replace funds that were lost due to the actions of malicious bad actors. Furthermore, recent U.S. government scrutiny over the likes of stablecoins – notably USDT and USDC – have arguably led to substantial growth of more decentralized alternatives, namely UST and DAI – the third and fourth largest stablecoins in the market. Related Reading | Jack Dorsey’s Block Looking To Democratize Bitcoin Mining With Open Source Mining System As broader cryptocurrency markets have grown, so too have stablecoins such as USDT; however increased scrutiny from crypto loyalists have left many wondering about the extent of power that the network should carry. | Source: CRYPTOCAP: USDT on TradingView.com Where We Go From Here Admittedly, Tether is undoubtedly in between a bit of a rock and a hard place. The leading stablecoin is rapidly approaching a $100B market cap, and is salivating at the thought of solidifying it’s stature as the ‘go-to’ stablecoin in a world of rapid crypto growth. Additionally, according to a Chainalysis report, illicit activity and cryptocurrency-based crime nearly doubled in 2021 compared to 2020, and government officials are likely ramping up communications with the blockchain. As we kick off the new year, expect more of the same when it comes to Tether, and perhaps even Circle’s USDC – as the two look to ingrain crypto in more mainstream outlets, a degree of centralization to come with that is inevitable. Related Reading | UAE Authorities Announce New Stringent Measures Against Crypto Scammers Featured image from Pexels, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.

Buterin has been both the golden child of crypto, and the recipient of some of the most trenchant criticism. For a bit of fun, he decided today was the day he wanted to dig some notable digs up and share them with his Twitter followers.

I wanted to buy eth to play poker on CoinPoker but have no idea where to start. What’s the best site to purchase eth so I can have in my own wallet What wallet would I use if I buy eth so I can transfer to a poker account submitted by /u/TittsMaagee [link]…
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