I see a lot of people complaining about EIP-1559 increasing the fees and that transferring ETH at 100 GWEI is unacceptable. But isn't 100 GWEI roughly $0.0003 USD? Is there more to it than that? submitted by /u/das-jude [link] [comments]
Bitcoin price is back at $50,000 and until either support at $30,000 is broken to the downside or a new all-time high is set, the direction of the market won’t be as distinguishable. Fundamentally, the network continues to grow, and sentiment remains high surrounding the cryptocurrency space. Better yet for bulls, here are five outrageously bullish charts filled with technical signals that suggest that bulls have very little fear about what could come in the months ahead. Five Bitcoin Price Charts Supporting New ATHs Weekly RSI is holding in the bull zone | Source: BTCUSD on TradingView.com To begin with the easiest chart to read, we’ll present the weekly Relative Strength Index. The current leading cryptocurrency by market cap just reclaimed the de-facto line in the sand between a bull phase and bear phase. For those looking for evidence of a bear market, you won’t find it on the chart above. After the peak was put in December 2017, Bitcoin price immediately plummeted below the line to kickstart the most recent bear market. The weekly RSI is back holding above this line – which following the December 2013 peak was lost and a bear market began. Parabolic SAR and Elliott Wave support further upside | Source: BTCUSD on TradingView.com The weekly LMACD has also recently flipped bullish, but the comparisons to previous bull markets aren’t as immediate apparent. If anything, there are more similarities with the 2013 cycle versus 2017, where the indicator never fell below the zero line after moving above it. Bitcoin price action currently has pushed momentum back above the zero line and is currently crossed bullish. Related Reading | Proof-of-Work: Bitcoin Back Programs That Put Your Money To Work For You A parabolic curve supports the price action in all examples above and below. Also in the chart directly below, the Ichimoku shows that during past bearish phases, Bitcoin price action sliced through a steep and thin cloud, while price action today is well above the cloud on weekly timeframes. BTCUSD is well above the cloud | Source: BTCUSD on TradingView.com Another bullish impulse would cause yet another steep rise in the cloud, which the cryptocurrency could later cut through to begin the next bearish cycle. But that is likely still plenty of weeks away according to the indicator. Not everything is rosy, however, according to the Ichimoku. Bitcoin is currently above the baseline (Kijun-Sen) and conversion line (Tenken-Sen), but the two lines are still crossed bearish. A bull cross driven by another impulse could do the trick. The Bollinger Bands are curling upward while above the middle-SMA | Source: BTCUSD on TradingView.com The Bollinger Bands on weekly timeframes also hint another bullish impulse could soon be coming. Prior to past impulses, the bottom bands curled upward, before expanding in both directions with price action passing the middle-SMA then riding the upper band to local highs. Another ride up the bands after a third major bullish impulse might be the final trip to the final bull market peak. Elliott Wave International recently shared a video discussing Bitcoin and a potential fifth wave brewing. Packaged with the video was a detailed explanation of the study where Elliott Wave Theory was compared to a “roadmap” that could potentially be followed. Parabolic SAR and Elliott Wave support further upside | Source: BTCUSD on TradingView.com If Bitcoin price really is finishing up a corrective wave four and about to enter a wave five impulse, it would be the grand finale for this cycle. For added measure, the Parabolic SAR is turned on, highlighted in green for the sake of showing a new uptrend could be in its early stages. But the real meat and potatoes of the chart are the waves and their structure. Drawn from where Bitcoin broke down to bear market lows to across both major local highs since the bottom was put in, we have a potential target for where a wave five might end. According to Elliott Wave Theory, wave two and four alternate in length and severity, and the third wave is typically the longest, strongest, and easiest to recognize. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course Wave five is usually around the same length in power and duration as the first wave – and also just so happens to line up with the previous mid-cycle pullbacks. If accurate, the cryptocurrency could run around 325% or higher from the bottom around $30,000 and bring the high of this cycle to around $125,000 to $150,000 per BTC. Fifth waves can extend, however, and match or even exceed the length of a wave three, so truly any outcome is possible with an asset with this much potential application. Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com
A rapidly expanding ecosystem, lucrative staking opportunities and support for NFTs back the strong rebound in ZIL price.
The Legislative Assembly of El Salvador has issued legislation on the approval of a $150 million Bitcoin Trust. In addition, they passed legislation supporting crypto services and infrastructure development across the entire country. They passed the bill on August 31, and 64 officials voted in support, while 14 opposed the creation of the Bitcoin Trust. The Trust aims to enhance BTC to U.S. Dollars conversion and support the essential technological infrastructure. This will enable the widespread adoption of digital assets. Related Reading | Former DigitalX Executive Appointed As The New Binance Australia CEO The government of El Salvador has mapped out $23.3 million for establishing crypto ATMs. They have also set aside $30 million for incentivizing the use of Chivo, the state-backed wallet. Bitcoin To Be Used As Legal Tender The news came just a week preceding the set implementation time for the controversial Bitcoin law of the country. The legislation will recognize BTC as legal tender across the Country by Sept. 7. The country currently uses U.S. dollars as legal tender. Bandesal, the Development Bank of El Salvador’s was appointed to manage the Bitcoin Trust operation. El Salvador plans to redirect the $150 million from their $500 million loans with (CABEI)Central American Bank for Economic Integration. They took the CABEI loan for economic recovery for medium and small-scale businesses. In addition, the government will channel $23.3 million of the funds to support the establishment of government-approved crypto ATMs. This will allow the residents to exchange Bitcoin for USD and verse versa. Moreso, $30 million was also mapped out for incentivizing the citizens to continue adopting Chivo, the Government’s digital wallet. Statement From The President President Nayib Bukele announced that the government would airdrop $30 Bitcoin to all Salvadoran adults who download Chivo wallet. He added that the country’s population is 6.5 million, which is high enough. This suggests two things; the first is that the government thinks Bitcoin adoption will be less. The second option is that they are yet to allocate enough Bitcoin that will go round. Related Reading | Cream Finance Plans To Repay The Stolen Funds To Its Users Today in related news, Koibanx announced that it signed an agreement with the El Salvador government on cryptocurrency infrastructure. The deal is to develop the county’s infrastructure on digital currency with Algorand’s open-source blockchain. Many citizens of El Salvador, including people from international organizations, have been skeptical about El Salvador’s Bitcoin Law. The law has also witnessed some critics too. BTC is on the verge of breaking the $50K barrier | Source: BTCUSD on TradingView.com Maria Luisa Hayém Brevé, the country’s Minister of Economy, has stated that the government focuses on crypto education. She added that they use crypto incentives to complement the high rate of uncertainty among their population. Featured image from Pixabay, chart from TradingView.com
Bitcoin has been subject to a number of predictions as it nears the fourth quarter of the year. The price of the digital asset is still up at this point, and investors are expecting the run to continue. While it is still not sure when the coin might break its previous all-time high again, experts are expecting the digital asset to 2X or more from this point. Among the analysts that believe bitcoin is destined for $100,000 by end of the year is market analyst Kevin Wadsworth. Related Reading | Ex-Goldman Exec And Real Vision Founder Puts Ethereum Value At $20,000 By March 2022 Wadsworth is the co-founder of Northstar & Badcharts, a company that provides technical analysis to its customers. The co-founder was on Kitco News to talk about cryptocurrencies with news anchor David Lin. Here, Wadsworth gave predictions for what he saw for both the short term and long term for bitcoin. A Dip Before The Climb Analyst Kevin Wadsworth explained that while the bull market is not over, it is going to run out before the end of the year. Wadsworth’s prediction was that bitcoin would most likely fall before continuing the bull run. Putting the floor of this dip at $40,000 before beginning another run. But this time, the run would lead to new all-time high records for the digital asset. “I think the crypto bull market will conclude before the end of the year. All the crypto charts I’ve been drawing and looking at vary a little bit in timing between the third week of September and some of them perhaps into mid-October or even late October. So there’s this sort of four-week window there between late September and late October where I’d be looking for the crypto bull market to reach its peak.” BTC price still trading less than $50,000 | Source: BTCUSD on TradingView.com Wadsworth puts the price of bitcoin at $100,000 by the time it reaches its peak. Adding that going up above $100,000 would be a bonus generally for the market. In addition to BTC hitting this price, he predicted that the rest of the altcoin market is most likely to follow with significant gains. Bullish On Bitcoin Long Term Kevin Wadsworth made an interesting revelation with regards to bitcoin in five years. Wadsworth explained that his company’s analysis of the digital assets leads them to believe that the price of BTC is set to surge to $1 million in the next fours years. He puts the year for achieving this price at 202 for bitcoin. While adding that his company’s analysis possesses a success rate of 90%-95% with such predictions. Related Reading | Billionaire Who Predicted 2008 Housing Crash Says Bitcoin Is “Worthless” Wadsworth added that while he was bullish, he was also cautious. Referring to his stand as “cautiously bullish.” And with bitcoin’s movement, the co-founder expects altcoins to also surge. “If we get to $100K, I expect the altcoins, Ethereum and the rest, to triple and quadruple,” said Wadsworth. Featured image from Financial Times, chart from TradingView.com
The Erik Voorhees-led company is making strides to fully decentralize its corporate structure. In July, ShapeShift announced the largest airdrop in history as part of its decentralization pledge.
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I was trying to move to MATIC and I had about $100 dollars in ETH in my MM wallet to move about 400 MATIC. I was going to move it to Polygon network. It asked for the first fee, which was about 23 dollars. Approved. Then it pops up a Complete Deposit fee of over…
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