Category: Cryptocurrency News

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A number of Democratic U.S. policymakers have written a letter to the CEO of the Electric Reliability Council of Texas (ERCOT) in order to inquire about the cryptocurrency mining operations in the state. The letter that stems from senator Elizabeth Warren’s office says that the lawmakers are concerned with the so-called climate crisis, and the […]

The commissioner said Europe is watching U.S. securities regulation developments very closely, but Europe is not following the American lead in its attitude toward energy use.

Every time I see something about BTC replacing big banks or USD, or curing all our energy problems any time soon I just want to smh a little. This is why people laugh at us and so many people have this comical internet money type of perception to this insanely disruptive tech. The reality is…
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BTC.D rises in price as altcoins suffer a bloody day in crypto.  BTC.D attempts to break out above 8, and 20-day Exponential Moving Averages as altcoins struggle to hold their key support.  The price of BTC.D eyes a rally to 48% as this could mean more pain for altcoins.  Many altcoins have experienced a relief bounce across the market as Bitcoin Dominance (BTC.D) remains below the 40% marked area allowing altcoins to rally when the market recovers. With Bitcoin Dominance (BTC.D) rising from the ashes, we could see the price of altcoins suffering more pain than expected if the price rallies to 50%. Bitcoin Dominance is the percentage of total cryptocurrency value that is made up of Bitcoin. Its basic premise is that as BTC’s dominance increases, the value of altcoins decreases. Related Reading: Bitcoin Price Threatened By Sticky Inflation, CPI Print To Shed More Light State Of The Market After showing relief bounces and the crypto market cap looking ready to rally to a high with the hopes of altcoins joining the party, this was caught short as many altcoins experienced a price decline, with many losing their key support with more change of going lower as the price of BTC.D keeps rising. Bitcoin Dominance (BTC.D) Price Analysis On The Weekly Chart Many altcoins have shown so much strength as the rally, with others producing double-digit gains coupled with the fact that BTC.D was down as there is not much Bitcoin effect during price retracement.  With BTC.D set to break its long downtrend, this could affect the price of altcoins as BTC experiencing a downtrend could affect altcoin performance and the time required for altcoins to bounce from retracement. BTC.D experienced a rally to a high of 72% as most altcoins were dormant during this period with no real price movement despite BTC experiencing good price movement. BTC.D rising is a disadvantage to most altcoins as this usually affects their movement to the upside and suffer more drops when prices retrace. Altcoins performance is better when BTC.D value is below the 30% mark area as this helps altcoins to react faster and better to price drop when BTC a price decline. If the price of BTC.D breaks and closes above 41.5%, this could mean altcoins would suffer more pain when BTC retraces in value as the impact on altcoin prices will be more. Weekly resistance for BTC.D – 41.5%. Weekly support for BTC.D – 40%. Price Analysis Of BTC.D On The Daily (1D) Chart In the daily timeframe, BTC.D faced rejection at the 48% mark as the value declined to 38%, where it formed good support to bounce off that region. The value of BTC.D continued to range in value as it formed an ascending triangle with price breaking out. A break and close above 41.5% would mean altcoins will suffer more price decline when BTC drops in value. Daily resistance for BTC.D – 43.1%. Daily support for BTC.D – 38.5%. Related Reading: CPI Crushes Bitcoin Price Down To $17,900, New Lows Imminent? Featured Image From zipmex, Charts From Tradingview 

Shiba Inu has had a hard time holding on to the value that it had garnered in the bull run of 2021. Along the way, there have been utility and use cases being put forward for the digital asset but even that has not helped it retain its value. Now, the meme coin has fallen below an important technical level, triggering sell signals. Shiba Inu Falls Below $0.00001 Over the last couple of months, the price of SHIB had continued to trend above $0.00001. This level had become important over time as bulls had built up support for the meme coin here. In other words, $0.00001 became the price for bears to beat, and now they have. Related Reading: Bitcoin, Ethereum Open Interest Suggests A Squeeze Is Coming In the early hours of Thursday, the price of Shiba Inu had inevitably declined below $0.00001. It comes as no surprise since the cryptocurrency was only following the general market trend that had triggered losses in the market over the last 24 hours. SHIB had been one of the worst-hit among the largest cryptocurrencies as it recorded a 7.66% decline during this time. SHIB price drops below $0.00001 | SourcE: SHIBUSD on TradingView.com This puts SHIB firmly below its 50-day moving average and the next support level now seems to be forming just above $0.000008. The loss in value has also seen the meme coin lose its 14th place on the top cryptocurrencies by market cap, which is now occupied by Iron (TRX). Time To Jump Ship? As expected, the fall below $0.00001 has begun to trigger sell-offs in the market. The most notable of these has been a whale who seems to have dumped trillions of tokens. At the time of the transaction, the 2.8 trillion tokens were worth an estimated $27.7 million and were transferred to another wallet. So either the whale had moved the tokens for safekeeping or they had sold off the tokens. The kicker is that the whale had purchased these tokens about two months earlier, and if it was a sale, they would have taken a massive loss on the tokens. Related Reading: Crypto Market Shows No Signs Of Positive Movement, Is ‘Uptober’ A Myth? The dollar value of Ethereum whale holdings has also declined during this time. In the last 7 days alone, their combined holdings are down more than $7 million. This points to some dumping from the large holders but is also a result of the decline in the price of the digital asset. The crypto market is expected to decline even further from here, which would mean that the SHIB losses might not be over at this point. It is also a meme coin which means it would tank even more than the general market. So Shiba Inu holders need to strap in for a long ride. Featured image from Finbold, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Dominica is a sovereign island nation in the Caribbean Sea, known as the “Nature Island of the Caribbean” because of its outstanding natural beauty. Following the signing of a new agreement with TRON, the country is now set to embrace blockchain technology and provide a model for integrating small nations into the global economy of […]

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The Lord Privy Seal of the U.K.’s House of Lords introduced the bill, which, ironically, was “ordered to be printed” following the first reading on Oct. 12.