Category: Cryptocurrency News

Here's the resource if y'all want to check it out: https://cryptotaxcalculator.io/exchanges/eth-tax/ submitted by /u/canaldolulis [link] [comments]

Found this online: Voyagers, Today we made the difficult decision to temporarily suspend trading, deposits, withdrawals, and loyalty rewards. The app will be down for a short transition period. After that, you will still be able to view market data and track your portfolio, and you will receive rewards payments for the month of June.…
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Last week the Russian ruble hit a seven-year high against the U.S. dollar and while analysts have downplayed the rise, one economist said people should not “ignore the exchange rate.” American economists have been perplexed about the ruble’s market performance and Russian officials have been quoted as saying that a strong ruble “makes Russian exports […]

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The “delta capitalization” model of Bitcoin may suggest that around $15k could be a possible bottom for the crypto’s price. Past Delta Cap Trend Shows Bitcoin May Still Face More Decline Before A Bottom As explained by an analyst in a CryptoQuant post, the BTC market cap is now below the realized cap, but still above the delta cap. Before taking a look at the data, it’s best to first get a basic grasp of the three major capitalization models for Bitcoin. The normal market cap is calculated by just taking the total number of coins currently in circulation and multiplying it by the price of BTC right now. The “realized cap” works a bit differently; instead of multiplying all the coins by the same price, this model weighs each coin by the price it was last moved at. Related Reading | USDC Exchange Reserves Rise As Investors Escape From Bitcoin For example, if there are 2 BTC in circulation and the current price is $19k, then the normal market cap is simply $38k. However, if one of these coins was last transacted at, say, $15k, and the other at $19k, then the realized cap would be $34k instead. Now, the Bitcoin “delta cap” is defined as the difference between the realized cap and the average of the market cap. The average of the normal market cap here is taken over the entire history of the crypto (and it’s naturally a moving average). The below chart shows the trend in the different market caps for BTC. The normal market cap still seems to be above the delta cap at the moment | Source: CryptoQuant As you can see in the above graph, the Bitcoin market cap has recently dipped below the realized cap. However, it has still not gone down near enough to touch the delta cap. Historically, the value of the crypto has formed bottoms whenever the market cap has been between the other two caps. Related Reading | Fed Announces Inflation Warnings As Bitcoin Whales Remain In Wait Mode In 2020, the coin bottomed out after the market cap went slightly under the realized cap, but in 2018 the metric even dipped a bit below the delta cap before the bottom was in. This past trend may suggest that the point around the delta cap may be the possible lower bound for how deep the coin’s price can sink. And if so, then Bitcoin could potentially sink to or a little under $15k, before the current cap touches the delta cap and the bottom forms. BTC Price At the time of writing, Bitcoin’s price floats around $19.3k, down 9% in the past week. BTC has gone down over the last few days | Source: BTCUSD on TradingView Featured image from Dmitry Demidko on Unsplash.com, charts from TradingView.com, CryptoQuant.com

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Traders expect Bitcoin to swoop below its swing low before the price flattens out and altcoins begin to recover.

Peng Zhong stepped down as CEO roughly a month after former company head Jae Kwon said he would be leading NewTendermint, part of Ignite’s split to two firms in May.

I got a new phone today and what I feared has come true. I had Google authenticator on my old phone for 2 factor authentication on multiple accounts. I asked the sales people if my authenticator would keep everything in tact if we did the "smart switch" process, where they move everything from the old…
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