Author: dfmines

“It’s unlikely that a native on-chain solution will supersede [layer-one] solutions like Stacks,” said Mitchell Cuevas, head of growth at the Stacks Foundation.

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I have been through some of the 'biggest and most respected name' on crypto YouTube. CoinsKid, MMCrypto, Chart champions and so on and so on. All they do is the following: >Pump out multiple videos of a possible scenarios stating it could up or could go down. >Then they claim they called it correctly by…
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M12 adds early-stage Palm NFT Studio to its portfolio with participation from venture firm Griffin Gaming Partners.

Bitcoin price succumbed to another wave of selling, but analysts say the current market structure at $47,500 mirrors the early bull-market from 2017.

A lot of predictions had put the price of bitcoin at $100,000 by the end of the year and although there are still some weeks left to go, it does not look like these predictions will come to pass. Bitcoin has however maintained a bullish trend despite price crashes and massive liquidations rocking the digital asset in recent times. Since analysts, and the crypto market in general, has been so focused on the bullish future of the asset, there has not been much attention paid to a low for the year. As the end of 2021 rolls around, it is important to not only look at the bullish end-of-year predictions but also how the cryptocurrency might be affected depending on the price bitcoin closes at. Related Reading | Bitcoin Open Interest Takes Second Largest Dump Of 2021 Crypto analyst Justin Bennett addresses this in his latest issue of the weekly newsletter. Bennett maps out the outlook for the digital asset, as well as the implications of bitcoin closing out the year below $50,000. Options Contracts Becoming Worthless Some of the bitcoin options contracts are set to expire at the end of the year and the profitability of these options contracts depend greatly on what price BTC is when they expire. Since the crash, bitcoin has struggled to maintain its value above $50,000 and this has not been good for the options contracts. Bennett notes that a close below $50,000 would see all of these contracts expire worthless, playing into what he called the “max pain theory”. The crypto analyst is not particularly confident in the digital asset’s ability to finish the year above $50,000. He expressed that he expects the consolidation in larger cap cryptocurrencies to continue through the last month of the year. Bennett however notes that there is a wide range for bitcoin due to the December 4th candle. This means that anywhere between $42,000 and $53,000 is possible going forward, providing a massive margin for the digital asset. BTC price continues downtrend | Source: BTCUSD on TradingView.com Bitcoin Volume Is Concerning Bennett also points to the lack of volume in the cryptocurrency. One thing is to start a rally or a breakout, but the other thing is to get enough volume to match that breakout. Otherwise, a rally would not be successful. Related Reading | Number Of Bitcoin Lightning Network Nodes Jumps 23% In Three Months “If we’re to see Bitcoin and the rest of the crypto market breakout later this month or even January, we need to see volume to match the price increase,” said Bennett. “Without volume, any rally or even breakout is more likely to fail.” As bitcoin continues to consolidate following a $53,000 test, the market is quietly waiting for more institutional money to pump into the market. Currently, Bennett has put the bitcoin key support at $49,000. “Below that is the April trend line near $46,000,” Bennett notes. Featured image from Bitcoin News, chart from TradingView.com

Bitcoin price is clearly on the ropes, sending the market and its participants into a state of extreme fear. But much like a superhero donning their cape and hustling toward danger, an ultra-reliable bottom signal has returned to save the day. Here is a closer look at the signal that appeared twice at the crypto bear market bottom, again on Black Thursday, and once again today. Bitcoin Price: Bottoming Sequence Initiated? Markets, much like everything else in the universe, are cyclical in behavior. Cryptocurrencies go through cold winters, but when they thaw, they run hotter than ever before. However, there are two types of cycles: fixed, and sequences (also called linear and non-linear). Fixed cycles would focus on, for example, how price action might react related to the halving. Sequences are a bit different. Related Reading | Finding Fibonacci: Is Bitcoin Beginning A “Golden” Recovery? Sequences instead must meet certain conditions. Fibonacci sequence, for example, involves a sequence where the next number in the sequence is always the sum of the previous two numbers. The TD Sequential indicator created by market timing wizard Thomas Demark, works via a unique sequence of candlestick closes that when followed, triggers a buy or sell setup. Why is this worth pointing out? Because one of the most reliable buy signals produced by the TD Sequential might have just called the Bitcoin bottom. Will the signal call the bottom six out of six times?  | Source: BTCUSD on TradingView.com No Need To Fear: TD Sequential Indicator Is Here The TD Sequential indicator has swooped in to save the day with a “TD 9” buy setup on the 3-day time frame. The chart above has been cleaned up to remove bearish signals and “TD 13 buy countdowns” that haven’t yielded nearly as dramatic results. What is left is a chart that since the very bear market bottom, has only triggered five other times including today. Each signal was either a short- or long-term bottom in Bitcoin. Related Reading | Point & Figure: The Chart That Makes Bitcoin Support Cut And Dry Significant moments the TD 9 buy setup has appeared was at the very bear market bottom, the subsequent retest of lows, and Black Thursday. Less powerful signals in August 2019 and December 2019 both eventually led to new lows, but there is no denying a bounce occurred. During each of those moments, fear was especially prevalent across crypto. The signal is so strong, that Bitcoin today remains more than 1000% above the last time it appeared back in March 2020. With that in mind, what type of ROI might this latest signal result in? TD 9 on the 3-day in #Bitcoin. This has called the bear market bottom, and Black Thursday bottom. It also remains up more than 1,000% since the last time this signal appeared. But go ahead, sell your coins. pic.twitter.com/ALL5jkFmQm — Tony “The Bull” Spilotro (@tonyspilotroBTC) December 9, 2021 Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

The popular forum and news aggregation web portal Reddit has revealed the firm’s Community Points beta program where Reddit users can “own a piece” of their community with “custom tokens” for subreddits. Blockchain-Backed Reddit Community Points: ‘The First Step Towards a Different Future for Online Communities’ At the end of July, Reddit announced that the […]

Cardano founder Charles Hoskinson held a session on YouTube yesterday to answer pressing questions from the community. ​ Gap due to tribalism During the livestream, Hoskinson gave a wish list of what he would like for Christmas; he did not ask for physical gifts this time. Instead, Hoskinson decided to name a pressing problem in…
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