Category: Cryptocurrency News

Bitcoin is moving higher and trading above the $20,000 zone against the US Dollar. BTC could surge if there is a clear move above $20,580 and $20,730. Bitcoin is showing a few positive signs above the $20,000 support zone. The price is now trading above the $20,000 level and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $19,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong upward move if there is a close above the $20,580 level. Bitcoin Price Aims Fresh Increase Bitcoin price stayed well above the $19,500 support zone. BTC formed a low near the $19,750 level and started another increase above the $20,000 resistance zone. There was a steady move and the price climbed above the 50% Fib retracement level of the downward move from the $20,732 swing high to $19,750 low. The price is now trading above the $20,000 level and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $19,800 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading comfortably near the $20,500 zone and the 76.4% Fib retracement level of the downward move from the $20,732 swing high to $19,750 low. Source: BTCUSD on TradingView.com On the upside, the price is facing resistance near the $20,550 and $20,580 levels. The next key resistance is near the $20,730 zone. A close above the $20,730 resistance zone could open the doors for a strong increase. In the stated case, the price could rise towards the $21,500 level. The next major resistance sits near the $22,200 level. Fresh Decline in BTC? If bitcoin fails to clear the $20,730 resistance zone, it could start a downside correction. An immediate support on the downside is near the $20,200 level. The next major support now sits near the $19,800 level or the trend line zone. A close below the $19,800 support zone could push the price to $19,500. In the stated case, there is a risk of a move towards the $18,750 level. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $20,200, followed by $19,800. Major Resistance Levels – $20,580, $20,730 and $21,200.

Bank of America has revealed that the number of its customers who are active crypto users has declined more than 50% from its peak in November last year. In addition, the bank said its data “shows that outflows to crypto platforms have fallen sharply,” indicating that “consumers are pulling back on their net investment into […]

Hey, I was wondering if it was possible to set approval for multiple collections in 1 txid, rather then approving each collection individually. submitted by /u/khouziz [link] [comments]

Merge trials on testnets are essential to allow Ethereum developers and independent project developers to understand what they can expect when the actual Merge takes place.

Some residents have reportedly told the crypto-friendly city of Próspera to “go home” following the Honduran government’s repeal of the ZEDE legislation which enabled it.

submitted by /u/RyanGiggs-SaggyRing [link] [comments]

Elon Musk’s Boring Company will accept the meme cryptocurrency dogecoin as payment for rides on its Las Vegas transit system Loop. Musk confirmed that he is “supporting Doge whenever possible.” Tesla already accepts the meme crypto for some merchandise and Spacex will soon follow suit. Elon Musk’s Boring Company to Accept Dogecoin Payments The Boring […]

Welcome to the Daily General Discussion thread. Please read the disclaimer and rules before participating.   Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading,…
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The second quarter of the year was dramatically bloody for Bitcoin. The coin ended Q2 down by 56% with the price dropping from $45,000 to $19,900, experiencing its worst quarter since Q3 2011. Bitcoin is now playing with its $20k level, a key zone. A Historic Decline For Bitcoin Bitcoin had a 37% decline during June. But it is not just the numbers that have been gloomy. June was also the month of the unsurprising rejection of Bitwise and Grayscale’s spot-based bitcoin ETF applications –immediately followed by Grayscale’s promised lawsuit–. Moreover, the effects of the Terraform Lab’s UST stablecoin and Three Arrows Capital collapses seem to have turned into something contagious amongst crypto firms: another crypto lender and trading platform, Vauld, suspended all withdrawals, trading, and deposits quoting the “financial challenges” of current market conditions. During 2022’s second quarter, Bitcoin opened at $45,000 and declined to below $20,000, managing to recover its key $20k price level just in time to close June above it. As NewsBTC reported recently, the coin “needs to break above $20,500 and continue above $22,000 to clear out any potential short-term downside risk.” Overall, the latest Arcane Research weekly report notes that this decline “marked a historic quarter for the bitcoin price, and we have to go back 11 years to find a more brutal quarter. Bitcoin ended the quarter just below $20,000, dropping 56%.” Related Reading | Bitcoin Reserve Risk Falls To 2015 Levels, What Happened To BTC’s Price That Year? What To Expect However, the BTC price action could see more positive times soon. Analyst Michaël van de Poppe thinks that the coin could soon flip the $20K-20.4K key level and then “go towards $23K and the summer relief rally.” He added today that the coin is “sustaining” and “looking ready for a big move relatively soon.” As Arcane Research shared, Bitcoin’s $20k level marks the peak of its last bull run, adding that “Technically speaking, the close of the monthly candle was positive”, with June’s closing price being above the 2017 peak. The report also points to a possible support/resistance flip “where previous resistance will act as support.” However, macroeconomic factors could be the ones to flip positive expectations later on. Global uncertainty keeps increasing pressure. S&P 500 is down by 20% from its January high, which also reflects on Bitcoin. Deutsche Bank AG Chief Executive Christian Sewing thinks there is a 50% chance of a global recession, other large banks see it coming as well. An economical decline that size could last for several quarters. Bloomberg reported about the current effects of inflation rates and noted that “The gauge for the US is already 12.2%, similar to levels witnessed at the start of the pandemic and in the wake of the 2008 financial crisis.” Anna Wong, the chief US economist at Bloomberg Economics, wrote that “The risk of a self-fulfilling recession—and one that can happen as soon as early next year—is higher than before. Even though household and business balance sheets are strong, worries about the future could cause consumers to pull back, which in turn would lead businesses to hire and invest less.” Likewise, said feared self-fulfilled recession could also paint a grim picture for the crypto market. High-risk assets are expected to suffer investors’ retraction during economic declines, which can lead to panic selling and more gloomy prices. Related Reading | Institutional Investors Remain Bearish As Short Bitcoin Sees Record Inflows

That is right the Beijing doesn't want cryptocurrency anywhere near its borders, but blockchain, they can't have enough of it. Now if you are thinking well crypto is based on blockchain if they don't trust the technology why would they use it inside of their courts (and yes their supreme court uses a blockchain based…
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