Author: dfmines

Bitcoin is attempting an upside break above the $38,800 resistance zone against the US Dollar. BTC could rally further unless it fails to stay above $37,400. Bitcoin started a fresh increase and was able to clear the $38,000 resistance zone. The price is now trading above $37,500 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $37,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise if there is a clear move above the $38,800 resistance zone. Bitcoin Price Starts Fresh Increase Bitcoin price corrected lower below the $38,000 pivot level. BTC even traded below $37,000, but the bulls were active near the $37,650. A low was formed near $36,667 and the price started a fresh increase. There was a clear move above the $37,500 resistance zone and the 100 hourly simple moving average. Besides, there was a break above a major bearish trend line with resistance near $37,450 on the hourly chart of the BTC/USD pair. The pair surged above the $38,000 resistance zone. A high is formed near $38,786, and bitcoin is now facing a major resistance near the $38,800 zone. It is currently trading near the 23.6% Fib retracement level of the upward move from the $36,667 swing low to $38,786 high. On the upside, an initial resistance is near the $38,500 level. Source: BTCUSD on TradingView.com The first major resistance is near the $38,800 zone. A clear move above the $38,800 zone could push the price further higher. The next key resistance is near the $39,500 zone. If the bulls able to clear the $39,500 level, the price may perhaps clear the $40,000 resistance zone. Downsides Limited in BTC? If bitcoin fails to start a fresh increase above $38,800, it could start a downside correction. An immediate support on the downside is near the $38,000 zone. The first major support is seen near the $37,750 zone. It is near the 50% Fib retracement level of the upward move from the $36,667 swing low to $38,786 high. A downside break below the $37,500 support zone may perhaps push the price towards the $37,000 support zone. Technical indicators: Hourly MACD – The MACD is now losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $37,500, followed by $37,000. Major Resistance Levels – $38,500, $38,800 and $40,000.

I want to give a physical gift, in which there's a way to redeem ETH to the receiver's chosen address. Is there any service that offers that? submitted by /u/ByPeterGGs [link] [comments]

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I'm in the US, and my bank doesn't like to play nice with any crypto platform. So every time I want to buy crypto with extra fiat, I have to eat the 3% card fee on CDC. But possibly not anymore! I tried sending some fiat to my Google Pay account from my bank using…
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Cryptocurrency prices are plummeting. According to one estimate, crypto assets have lost around $1.35 trillion ($1.9 trillion) in value since November, with some crypto price crashing by as much as 80%. Many investors are in a tight spot. The good news is that world economy isn’t poorer. As a result, there won’t be much of an economic response to the new prices. Crypto Price Fall Dominates Headline The recent crypto news has been dominated by the price collapse of numerous major currencies. Since November, the price of bitcoin has been dropping. The price of cryptocurrencies has also dropped in the last week, according to reports, due to new US regulations on digital assets. Bitcoin’s price dropped from $69,000 in November to $32,951 last week. Bitcoin Price Chart. Source: Bloomberg Ethereum’s price has plummeted to roughly $2,400, down from nearly $5,000 at the end of 2021. Top cryptocurrencies like XRP, Solana, BNB, and Cardano have had their value plummet by up to 30%. The big crypto meltdown of 2022 wiped out $1.5 trillion from the industry as a whole. The impact of the cryptocurrency meltdown on the rest of the economy is minimal. The $1.5 trillion in losses is only approximately 6% of the US GDP. Second, the cryptocurrency ecosystem is largely detached from the rest of the economy. Because banks have avoided crypto, the crash has had little effect on the financial market. Many have held on to the believe that US regulations contributed to the bloodbath. Due of the national security risks posed by Bitcoin, the Biden administration is attempting to develop a strategy to regulate cryptos. As a result of the Federal Government’s measures, traders have been urged to sell their Bitcoin holdings in large numbers. The US Federal Reserve’s policy changes have an impact on Bitcoin pricing. The Federal Open Market Committee will raise the double monthly rate, cutting asset purchases, according to Federal Reserve Chair Jerome Powell. The Federal Reserve implemented these steps in order to curb inflation and its detrimental influence on Bitcoin prices. Geopolitical disputes can also have a negative impact on the market. Geopolitical disputes can also have a negative impact on the market. Kazakhstan recently faced electricity shortage due to internal crisis. Widespread tensions are also building between Ukraine and Russia. Related article | Bitcoin Bears To Resume Assault? Why BTC Could Crash To $33K Ending January In Confusion As the month closes, many investor are in cautious optimism. However, inflows have turned positive since last week. According to CoinShares, digital asset investment products received $19 million in cumulative inflows last week. With $22 million and $32 million in inflows, respectively, bitcoin and multi-asset funds led the gains. The news wasn’t all good, as Ethereum continued to face unfavorable sentiment, with $27 million in outflows. This was the eighth week in a row that ETH-focused funds have seen outflows. Outflows were also recorded during the week for Solana, Polkadot, and Cardano products. Since December, institutional investors have been selling digital asset products in droves, taking profits and reducing their stakes during market selloffs. According to CoinShares data, Bitcoin funds have suffered a net outflow of $131.8 million so far this year. There have been $111.2 million in withdrawals from Ether funds. Bitcoin dropped as much as 2.9% to roughly $36,680 on Monday before recouping losses. It has now dropped more than 18% in a month, the worst start to a year since 2018’s 29% drop and a bleak follow-up to December’s 19 percent drop. BTC/USD recovers to $38k. Source: TradingView Between November’s peak and January’s lows, Bitcoin has lost approximately half of its value. According to Goldman Sachs’ Zach Pandl and Isabella Rosenberg, this loss puts it at “the low end of the range” of large drawdowns in the past. Since 2011, the pair estimates that the coin has had five big pullbacks from all-time highs, with an average peak-to-trough fall of 77 percent. They noted in a note that the decreases continued on average seven to eight months. According to them, the highest cumulative Bitcoin fall, a loss of 93%, occurred in 2011. Related article | Bitcoin Funding Rates Remain Negative For More Than A Week Featured image from Unsplash.com, charts from TradingView.com, Bloomberg

​ Ethereum 2021 was a fantastic year for crypto, in particular Ethereum. Ethereum reigns as the second-largest blockchain despite the slew of competition from Binance SC, Solana, Avalanche. But it remains far ahead showcased by various metrics, and there are no signs of slowing down. Total Value Locked How to use TVL metrics Ethereum ended…
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Bradley Tusk says that the regulatory issues in the U.S. will not only be replicated but amplified as we see the internet move towards the Metaverse.

The U.S. Federal Trade Commission (FTC) has warned about social media being used in cryptocurrency investment scams. “Social media is a tool for scammers in investment scams, particularly those involving bogus cryptocurrency investments — an area that has seen a massive surge in reports,” said the FTC. Federal Trade Commission Warns of Crypto Scams Utilizing […]

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