Category: Cryptocurrency News

DOGE’s price shows strength as it continues its rally with eyes set on a high of $0.2.  DOGE could rally more as the price creates more bullish bias by breaking out of a bullish continuation pattern with eyes set on rallying higher. DOGE’s price remains strong on all timeframes as price trades above the 50 and 200 Exponential Moving Averages (EMA). The price action displayed by Dogecoin (DOGE) in the past few days has been tremendous, as the price of Dogecoin (DOGE) has become a standout performer creating the euphoria of a bull market in the hearts of many. The price of Bitcoin (BTC) creates a more bullish scenario across the crypto market; this has also acted as a catalyst for the price of DOGE, given how the market has started a little relief across all boards. (Data from Binance) Related Reading: Bitcoin Price Close Above 100 SMA Could Spark A Fresh Surge: Here’s Why Dogecoin (DOGE) Price Analysis On The Weekly Chart The crypto market is looking increasingly welcoming as many altcoins continue producing over 150% gains over the past 7 days of breaking out of its range-bound movement. The likes of DOGE have seen some great runs in recent times rallying from a low of $0.055 to a high of $0.15. The past weeks were tough for the crypto space, with many altcoins struggling to hold up their key support areas. With the week looking more promising and Bitcoin (BTC) prices gaining traction, the crypto market has enjoyed a measure of relief. After its weekly close of above $0.07, the price of DOGE rallied to a high of $0.14; the price faced a minor rejection to break higher to a region of $0.15; the price struggled to break above this region. The price of DOGE has maintained its bullish structure above the $0.145 region, as the price of DOGE eyes a rally to a region of $0.18 which could prove to be very key in its price rally to $0.2. If the price of DOGE fails to overcome $0.2, we could see the price drop to $0.18-$0.15. Weekly resistance for the price of DOGE – $0.18-$0.2. Weekly support for the price of DOGE – $0.145. Price Analysis Of DOGE On The Daily (1D) Chart In the daily timeframe, the price of DOGE continued to look strong as the price broke out of its bullish continuation pattern haven retraced a little for more buy orders; the price of DOGE has continued to rally with good volume to a high of $0.158 but has faced a little rejection.  APE currently trades at $4.9, just above its key support formed at $5 after its successful breakout from a descending triangle. The price of APE trades below the 50 EMA, and the 50 EMA corresponds to $5, acting as support for the price of APE. The price of DOGE is struggling to break and close above $0.155, which corresponds to the 61.8% Fibonacci retracement value (Fib Value); if the price breaks and closes, we could see the price rally to $0.18-0.2, signaling a possible price retracement to a region of $0.15-$0.14.  Daily resistance for the DOGE price – $0.18-$0.2. Daily support for the DOGE price – $0.14. Related Reading: Ethereum Price Could Resume Uptrend If It Clears This Barrier Featured Image From Ticker, Charts From Tradingview

PRESS RELEASE. 1st Nov 2022, Bucharest, Romania — As part of its commitment to democratize access to the next generation of Web 3.0 Financial Services, ZoidPay has announced the launch of ZETA, the first on-demand Metaverse. What is ZETA? Integrating Augmented Reality (AR), Virtual Reality (VR), and Extended Reality (XR), ZETA allows users to extend […]

As the eyes of the crypto community turn to tomorrow’s Federal Reserve FOMC meeting, an on-chain analysis by Glassnode suggests that the bottom just needs to be hammered out. In their weekly report, the firm states that a number of metrics are currently bouncing, making a relatively consistent argument that the bitcoin market has hit a bottom. In this regard, the current numbers are “almost textbook” comparable to previous cycle lows. To back up the claim, Glassnode consults the Mayer Multiple and the Realized Price. The latter of the two metrics calculates the acquisition price per coin. This allows to determine whether the overall market shows an unrealized loss which is the case when the spot price is below the Realized Price. Related Reading: Bitcoin Price Close Above 100 SMA Could Spark A Fresh Surge: Here’s Why The Mayer Multiple helps assess overbought and underbought conditions. It plots the relationship between the BTC spot price and the 200-day Simple Moving Average. The latter is a model widely used in traditional financial analysis. Gassnode writes: Remarkably, this pattern has repeated in the current bear market, with the June lows trading below both models for 35 days. The market is currently approaching the underside of the Realized Price at $21,111, where a break above would be a notable sign of strength. Bitcoin Forming A Bottom Takes Time A third metric considered by Glassnode, the Balanced Price is the difference between the Realized Price and the Transferred Price. The  “fair value” model is currently hovering around $16,500. As Glassnode notes, in past cycles the Bitcoin price moved in the range between the Realized Price and the Balanced Price for 5.5 and 10 months before a breakout occurred. Related Reading: Fed Could Hike Interest Rates By 75 BPS, Here’s What It Means For Bitcoin During the 2014 and 2015 bear market, the BTC price remained for 10 months in the range between the two metrics. Within the 2018/2019 bear, it was only 5.5 months. If history repeats, Bitcoin investors may want to expect a bear market to continue for a bit longer. Another characteristic of a bottom formation is an ongoing change of Bitcoin owners. This behavior by investors can be analyzed by tracking the UTXO Realized Price Distribution (URPD). According to Glassnode, the proportion of supply that has changed hands so far is significant, but maybe not enough. During the 2018-2019 bottoming period, about 22.7% of total supply moved in the range when the price first broke below the Realized Price and above that metric. The same analysis for 2022 shows that only about 14.0% of supply has been redistributed in this range to date. Thus, this metric also suggests that “an additional phase of redistribution is needed” before a bottom is finally in. However, at the same time, the research firm cautions that there is currently “no convincing influx of new demand.” Nevertheless, the company gives an optimistic outlook and claims: It does not appear that the bear-to-bull transition has formed as yet, however, there does appear to be seeds planted in the ground. At the time of writing, BTC was trading at just over $20.6k and sat close to its 100-day moving average (green line). The 200 day MA sits currently at around $24,500 and thus remains a long way off.

Now I have to type some more text just to make it 60 characters long which is the minimum allowed. submitted by /u/mredda [link] [comments]

China’s digital yuan is one of the earliest CBDCs whose pilot phase has expanded to include millions of users and billions in transaction volume.

The legislation, separate from the upcoming Digital Asset Basic Act, may came into force already in 2023.

submitted by /u/reggie_morris [link] [comments]

submitted by /u/PreventableMan [link] [comments]

The victory President-Elect Luis Inacio Lula Da Silva obtained on Oct. 30 over the incumbent Jair Bolsonaro in Brazil might open the gates for the proposal of a single currency for the countries of Latam. Lula announced this as part of his campaign, preaching the utility of a common currency as a way of fighting […]

Proposal for a Regulation of the European Parliament and of the Council on Markets in Crypto-assets, and amending Directive (EU) 2019/1937 (MiCA) – Letter to the Chair of the European Parliament Committee on Economic and Monetary Affairs Article 80: Prohibition of market manipulation (page 238 – 240) The following behaviour shall, inter alia, be considered…
Read more