Author: dfmines

Right now there are lots of cryptos who are rolling out zkRollup solutions. I will not mention any by name, since I had a post earlier mentioning some by name, and it was removed, however, I am still very interested in having an orderly discussion about how L2 scaling will grow ETH. Right now there…
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CNBC personality Jim Cramer has been pushing the possibility of a so-called “Santa Claus rally” across the stock market. But could this holiday-related trend have an impact on Bitcoin and cryptocurrencies? Mad Money Host Calls For “Santa Claus Rally” Bitcoin has taken a beating, down substantially from what most of its backers believed the year would be closing at. The stock-to-flow model was predicting anywhere between $100,000 to $288,000 per coin, but instead the top cryptocurrency by market cap is below $50,000 or around half of the lower of the two targets. Related Reading | Could An Elon Musk Time Magazine Cover Predict The Crypto Cycle Peak? But the year isn’t yet over, and a potential Santa Claus rally narrative is slowly spreading across the world of stocks. CNBC Mad Money host Jim Cramer is giving the idea heavy press. First, he tweeted explaining that today is the day it would normally start. Historically today is the day the Santa Claus rally starts. It worked even during 2007-2009. So it is hard to doubt.. — Jim Cramer (@jimcramer) December 21, 2021 On Squawk Box, Cramer later revealed that if “you bought today and you just held on even for six days, you made money almost every single year.” According to Investopedia, a Santa Claus rally “describes a sustained increase in the stock market that occurs in the last week of December through the first two trading days in January.” Statistics show that there is a remarkably higher probability of strong performance during these key dates based on the S&P 500. Such rallies are retail driven, and occur for various reasons which include: Increased investor enthusiasm around the holidays A low volume environment due to holidays and vacations More sophisticated short-sellers are on vacation The end of tax-loss harvesting by institutional or wealthy investors But does such a phenomenon work for Bitcoin and crypto? Ho ho how much could crypto climb? | Source: BTCUSD on TradingView.com Will Bitcoin Climb This Christmas Into The New Year? Reviewing past statistics related to Bitcoin price action around the last week of December into the first two trading days of January, data shows there is a lower probability of a Santa Claus rally in crypto than in stocks. Only four years during such timeframe have been positive for Bitcoin, with the most recent occurring last year. With far less data available than in the S&P 500, anything is still possible when it comes to speculative digital assets. Related Reading | Bitcoin Falls Flat: Examining A Rare Bull Market Corrective Pattern Other seasonal type data related to this very day might prove to be more profitable. Today also is the Winter solstice, which in the past has been in close proximity to either a top, bottom, or a break of all-time high. The Winter Solstice and Fibonacci | Source: BTCUSD on TradingView.com With this Winter solstice having failed to produce the peak of a rally, it could – like it has in the past – instead put in a short-term bottom that runs until the next equinox. And its possible that it starts with a Santa Claus rally. Crypto is notoriously low volume compared to other markets, especially during holidays. The presence of institutional tax loss harvesting and more advanced short hedge positions could have kept Bitcoin price down during the December month, but with that out of the way, retail could push prices up in the near term. However, according to the person who first mentioned a Santa Claus rally in The Stock Trader’s Almanac in 1972, Yale Hirsch, the rally itself isn’t what’s important. It is what arrives in the year that follows that matters. “What’s important is not to catch this little rally but to use it as indication for what may happen in the coming year,” he said, calling it “an early indicator for the year to come.” Hirsch’s father even came up with a phrase to help remember: “If Santa clause should fail to call, bears may come to Broad and Wall.” I'm dreaming, of a green Christmas. With every #Christmas chart I draw. When #Bitcoin tops are possible; altcoin season, probable. Flip bear, then short it once again. pic.twitter.com/1wV6JYy4Vx — Tony “The Bull” Spilotro (@tonyspilotroBTC) December 15, 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

PRESS RELEASE. Affyn’s private round was oversubscribed within a week of its website unveiling, resulting in the opening of a new strategic round that once again became oversubscribed, ahead of its presale in December 2021. Backed by more than 50 venture capitalists, institutional investors and partners, signaling high confidence and strong demand for Affyn’s Play-to-Earn […]

Maybe one of the best-performing assets in 2021, LUNA has been trending against the market for the past 2 weeks. While Bitcoin, Ethereum, and other major cryptocurrencies remained rangebound, the native token for the Terra ecosystem re-entered uncharted territories. Related Reading | Terra Begins LUNA Burning, Why It Could Target $140 As of press time, LUNA trades at $87 coming in from a monthly low at $38 which represents almost a 40% increase over that period. As reported by NewsBTC, Terra deployed several improvements on its mainnet in the past months. These included Colombus-5, Wormhole v2, and an Inter-Blockchain Communication (IBC) protocol. The first of these upgrades could be the fuel that has triggered LUNA’s rally as it implemented a burning mechanism into the network. Effectively, this upgrade has turned LUNA into a deflationary asset that will continue to see buying pressure into the future. Per a report by Delphi Digital, the Terra ecosystem has also benefited from the deployment of Astroport, an Automated Market Maker (AMM). The protocol is yet in an early phase but has already seen over $1 billion in capital inflows. This capital injection into Terra’s ecosystem coincides with LUNA’s rally which goes to show the importance of adoption for this token’s performance. Delphi Digital said: LUNA price notched another ATH today before retracing lower. The price increase over the last few days was likely triggered by investors buying spot LUNA to lock up in the Astroport lockdrop, then hedging their position via perpetual futures to remain delta neutral. As the chart also shows, LUNA has the right ingredients to continue its rally: reaching price discovery on negative funding rates for the derivatives sector, which suggests speculators expected more downside in a short time. It remains to be seen if the trend will be able to hold in 2022. Terra (LUNA) And Its Potential To Take Over 2022 LUNA’s ecosystem has displayed strength in other sectors. The network’s native stablecoin UST has been gaining more adoption and could potentially disrupt this sector of the crypto market. Delphi Digital records an increase in market capitalization for UST since December 15th. This stablecoin has been in a close fight with DAI, one of Ethereum’s most prominent assets, as seen below. Delphi Digital added: UST and DAI have been neck-and-neck in terms of market capitalization, with UST briefly overtaking DAI as the 4th largest stablecoin last week. Yesterday, UST overtook DAI more decisively as it had been trading higher for at least the last 24 hours. Related Reading | LUNA Outperforms Bitcoin’s Rally, Why It’s Ready For Massive Gains Christmas is still some days away, but December has already proven itself as one of LUNA and Terra’s most important months in 2021. With solid fundamentals, this network seems poised to continue its upwards trend in the near future.

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Manasquan Bank, a mutual community bank in New Jersey serving residents since 1874, has announced it is partnering with the company Bakkt to give its retail clients the ability to buy, sell and hold cryptocurrency through the bank’s mobile banking application. Manasquan Bank to Give Customers Access to Crypto A mutual community bank headquartered in […]

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