Category: Cryptocurrency News

Research suggests that historical analysis of crypto markets, combined with real-time conditions and investor sentiment, can be extremely informative.

​ https://preview.redd.it/3shr6ox0w17a1.png?width=666&format=png&auto=webp&s=ea8c531a931af9a840ac4e3c063dafb0405b80f7 The full blog post with all the tables is here. Welcome to the monthly recap for the 3rd of 5 homemade Top Ten Crypto Index Funds. The 2020 Portfolio is made up of: Bitcoin, Ethereum, XRP, Tether, Bitcoin Cash, Litecoin, EOS, Binance Coin, BitcoinSV, and Tezos. tl;dr: What's this all about? I purchased…
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As the first country to adopt Bitcoin as legal tender in Africa, the Central African Republic appears to be struggling with its investor-oriented token, Sango Coin.

On-chain data shows that Bitcoin “mid-term” holders have been on the move during the past day, suggesting that they may be dumping currently. Bitcoin 3-6 Months Age Band Shows Large Spike In Spent Outputs As pointed out by an analyst in a CryptoQuant post, an increase in the spent outputs for the 3-6 months group has resulted in big moves for BTC before. The relevant indicator here is the “Spent Output Age Bands,” which tells us which age bands in the Bitcoin market are moving how many coins right now. These “age bands” are groups that define ranges between which the coins (or holders) falling into said band last showed any movement or selling. For instance, the “1m-3m” age band includes all tokens that have been sitting dormant since at least 1 month and at most 3 months ago. If holders belonging to this group shift their coins, then the move will show up as a spike on the spent outputs chart for the band. Related Reading: Litecoin Continues To Slide, Now Below Shiba Inu In Market Cap In the context of the current topic, the relevant age band is the “3m-6m” group. Here is a chart that shows the trend in the spent output metric for it during the last few years: The value of the metric seems to have shot up during the last day | Source: CryptoQuant As the above graph displays, the spent output metric has recorded a large value for the 3m-6m Bitcoin age band recently. The holders belonging to this group are sometimes referred to as the “mid-term holders,” because of the fact that their range covers the boundary between the short-term holder and the long-term holder cohorts. Related Reading: Bitcoin Bear Market Monthly Momentum Reaches Worst On Record From the chart, it’s apparent that generally whenever this holder group has shown signs of heavy dumping, the price of BTC has observed a steep decline shortly after. The latest crash following the collapse of FTX, too, was preceded by a large movement from these investors. After the current spike, Bitcoin has actually already seen a short-term drop, as the below chart shows. However, it’s unclear at the moment whether this decline was all there is going to be. If past examples are anything to go by, Bitcoin usually observes a large move whenever this trend forms, which implies the real decline from the latest spike may be yet to come. A closer look at the price trend following the spike in the indicator | Source: CryptoQuant BTC Price At the time of writing, Bitcoin’s price floats around $16.8k, down 3% in the last week. Looks like the value of the crypto has been moving sideways since the plunge a few days back | Source: BTCUSD on TradingView Featured image from mana5280 on Unsplash.com, charts from TradingView.com, CryptoQuant.com

Current market conditions hinder bullish market movements even for Bitcoin, which is arguably the king of cryptocurrencies. Recently, a crypto analyst named nino released an analysis showing that long-term Bitcoin positions are being liquidated.  As this develops, experts in the cryptocurrency market have warned that the U.S. Federal Reserve’s efforts to rein in inflation through monetary tightening are unlikely to ease any time soon, thus has the potential to impact on BTC price. Warming Up For The Crypto Winter  Nino used the Long Term Output Profit Ratio indicator. This measures whether long-term holders who sold their holdings are taking profit.  As of this writing, Bitcoin is trading at $16,855, down 1.9% in the last seven days, data from Coingecko shows. Nino found that after the CPI and FOMC announcements, Bitcoin values saw significant fluctuation. Soon after this occurred, the LTOPR skyrocketed. Many long-term Bitcoin holders may have cashed out their holdings at this time. Related Reading: World Cup Win Not Enough To Save Argentina Fan Token From Losing 50% In Value However, glassnodealerts recently tweeted that the holders of 1 Bitcoin increased to a new all-time high of 973,148. As long positions get liquidated by long-term investors, new investors will grab the newly distributed token at a lower price. 📈 #Bitcoin $BTC Number of Addresses Holding 1+ Coins just reached an ATH of 973,148 View metric:https://t.co/s7tx1xxyz3 pic.twitter.com/FydDXwa8o9 — glassnode alerts (@glassnodealerts) December 18, 2022 Retail investors are not the only ones getting in on the fun. Whale interest seems to increase as well, as addresses holding more than 100 BTC increased to 16,120 which is a one-year high.  BTC addresses holding 100 or more coins reach one-year high. Source: Glassnode These increases show that although the overall sentiment is very pessimistic, investors remain hopeful for Bitcoin and crypto in general.  More Developments, Both Controversial And Not BTC appreciated 0.4% in the past 24 hours to its current price of $16,855. But this might increase in the next few days or months as Russia looks on the cryptocurrency market to circumvent sanctions.  According to a report by Newsweek, Russia is contemplating the use of cryptocurrency as the war-weary nation seeks to bolster its coffers in the face of severe Western sanctions imposed in reaction to President Vladimir Putin’s war in Ukraine. Crypto total market cap still below the $800 billion mark today at $771 billion | Chart: TradingView.com Related Reading: Can Ethereum Prevent More Losses As Altcoin King ETH Slips 7% In Last 7 Days? Investors In For The Long Haul However, this might also pose a threat to BTC that will enter circulation in the sanctioned country, but with no present legislation in the Western world regarding cryptocurrencies, we can possibly see a rise in price once Russia actually implements its new law.  Currently, BTC is trying to regain ground above its 50% Fib level while being supported at $16,452. A price close above the 50% Fib level would secure positive investor sentiment. Meanwhile, CoinGlass data also shows that investors who bought BTC are in it for the long-term with long positions are outnumbering short positions. 

The year is nearing it's end, crypto market's are in deep crypto winter. Bad projects were supposed to die during this time, but now I ask you: What is the most shameful and disgraceful project to be in Top 100 by market cap? I'm not asking about memes you don't like or chains you are…
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The production team flew to Uganda for what was supposed to be “The Missing Cryptoqueen’s” last episode. They wanted to show how far the OneCoin scam traveled and what it did to its victims. The results are devastating. As it happened all over the world, people in Uganda couldn’t afford to lose one dollar and ended up falling for OneCoin and losing it all. Dr. Ruja Ignatova is a legend over there. And in this episode, we also get to meet people who still believe in her and the OneCoin project.  Anyway, let’s get into the episode titled “The Technology and the Dream.” Remember, you can download episodes directly from the BBC, or listen to “The Missing Cryptoqueen” through Apple, Spotify, or iVoox. About “The Missing Cryptoqueen,” Episode Eight- “The Technology And The Dream” In this interview-heavy episode, the production team exposes the embarrassment and shame of the victims. Their hopes, their dreams, and the denial that lead to this. The sheer volume of devastation OneCoin caused in Uganda, where people sold everything to get in on the early floors and some of them even got loans. We also learn that at the time of recording, as it happened in Bulgaria, OneCoin was still operational in Uganda. The organization was still working, people were still investing, and marketers were still recruiting. We get to meet many characters, but the standing out one is Saturday David. He’s a multi-level marketer who made a lot of money selling OneCoin, but also bought a lot himself. When Jamie Bartlett interviews him, he has stopped selling the product but still believes in Dr. Ruja. He also thinks there’s a chance for the money he has put in to multiply as he has promised countless people. Plus, he still believes in cryptocurrencies as a concept and his objective is to build a crypto-friendly city in Uganda. The Uganda episode was announced as the series’ last, and it ends with a brief summary of all of the participants’ lives and everything. That’s until the producers tell us that their “phone rang one more time.” An anonymous contributor called the show’s helpline and told them that they were too close to finding Dr. Ruja to quit. He confirmed that she’s in Frankfurt, looks like a German lady, and was in attendance at the Miss OneLife pageant as the production crew suspected.  Quotes From The Uganda Episode of “The Missing Cryptoqueen”: A promoter gives an example of what OneCoin middle-management insiders think happened to Dr. Ruja:  “She went into a safer zone because OneCoin is bigger than what people thought. So when other people got to know that it is fighting the current way of banking. So our leader had to sacrifice herself and go to a safer zone and concentrate on bringing the vision to reality.” Bartlett on what Dr. Ruja knew about human nature and the historical moment we’re living in:  “Maybe above all, Dr. Ruja understood an even more difficult truth. That the difference between a straightforward scam and the complicated but legal world of finance and money isn’t as clear cut as we think. OneCoin wouldn’t be possible unless we lived at a time when people really do make millions simply by betting on cryptocurrencies, complicated derivatives, and high-frequency currency trading. OneCoin sounds plausible to so many people because it is plausible.” Bartlett on Dr. Ruja being “the inverse Satoshi:” “Ten years ago, Satoshi Nakamoto invented Bitcoin, the world’s first cryptocurrency. No one knows where or even who Satoshi is, but it doesn’t matter because the idea Satoshi unleashed of financial freedom through technology is bigger than one person. Dr. Ruja is the inverse Satoshi. She stands for something too, something that’s more important than where she is. She represents the dark side of rapid technological change. Every new technology creates amazing opportunities and possibilities for people who understand it, but also the chance to exploit the people who don’t.” BTC price chart for 12/20/2022 on Coinbase | Source: BTC/USD on TradingView.com Extra Material about Uganda:  Six years ago, our sister site Bitcoinist mentioned Uganda in relation to OneCoin while denouncing the project as a scam:  “OneCoin meanwhile continues to make alarm bells ring throughout the world. Most recently Uganda’s central bank issued a public warning on the risks of investing in it, yet drew no distinction between the scheme and bonafide cryptocurrencies such as Bitcoin.” Later on, Bitcoinist pulled no punches while discussing the DealShaker marketplace: “Recently, an online “marketplace” appeared offering products and services in exchange for OneCoins, which Bitcoinist advises readers not to use under any circumstances. At the same time, OneCoin’s online website, which poses as an ‘exchange,’ has finally gone offline possibly suggesting that the scam is nearing its endpoint.” Episode Credits Presenter: Jamie Bartlett Producer: Georgia Catt Story consultant: Chris Berube Editor: Philip Sellars Original music and sound design: Phil Channell Original music and vocals: Dessislava Stefanova and the London Bulgarian Choir Previous Companion Guides For BBC’s “The Missing Cryptoqueen” Podcast: Ep. 01 – https://www.newsbtc.com/news/bitcoin/ep01-dr-ruja-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/ Ep. 02 – https://www.newsbtc.com/news/bitcoin/ep02-btc-killer-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/ Ep. 03 – https://www.newsbtc.com/altcoin/ep03-onecoin-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/ Ep. 04 – https://www.newsbtc.com/scams-and-fraud/ep04-onelife-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/ Ep. 05 – https://www.newsbtc.com/scams-and-fraud/ep05-mlm-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/ Ep. 06 – https://www.newsbtc.com/scams-and-fraud/ep06-dealshaker-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/ Ep. 07 – https://newsbtc.com/crypto/ep07-moneyland-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/ Featured Image: The Missing Cryptoqueen’s logo by the BBC | Charts by TradingView

Nigeria is expected to designate cryptocurrency as capital for investment if the country’s House of Representatives votes to approve a bill that seeks to amend the Investments and Securities Act of 2007, a report has said. A Nigerian lawmaker, Babangida Ibrahim, suggested that the Central Bank of Nigeria (CBN) is not well positioned to regulate […]

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