On Wednesday, it was reported that the crypto hedge fund Three Arrows Capital (3AC) was liquidated by a British Virgin Islands court and following the alleged liquidation, the Monetary Authority of Singapore (MAS) has reprimanded 3AC for misleading regulators. Furthermore, reports claim that liquidators in Singapore are attempting to seize the properties owned by 3AC […]
Binance, Ripple and Kraken are hiring, while Coinbase, Gemini, and Crypto.com have announced staff cuts.
The Monverse gameplay is a highly engaging and intriguing playing activity,specifically assigned for a wide array of users and players across the blockchain. The gameplay on the Monverse project is divided into two types: For naive players: Casual Gameplay For expert players: Hardcore Gameplay Casual Gameplay https://preview.redd.it/o81q45oaqz891.jpg?width=1050&format=pjpg&auto=webp&s=90ec8eb313517488437eb67f19b387f13786cd74 The casual gameplay is designed, keeping…
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The addresses mainly run by active human traders have notched more than 147,000 addresses for the first time since November.
Bitcoin has been setting new record trends with the bear market. This follows a bull market that had also deviated largely from its predecessors, so it comes as no surprise that the subsequent near market mirrored this behavior. Various new trends in bitcoin’s movement have cemented a bearish picture for the digital asset, and the latest in the line of records has only done more to cement this sentiment. Worse Quarterly Close In More Than A Decade Bitcoin has been in existence for about 13 years and in that time, the barely teenage-aged market has recorded its fair share of bad quarterly closes. However, in the last 11 years, none have been as brutal as the close that was recorded on June 30th. After a month of incredibly volatile prices, the month had closed out the quarter with three consecutive red monthly closes. Related Reading | Bitcoin Enters Hibernation Mode As Network Activity Lulls This comes hot on the heels of the market crash that had rocked the market this year. Bitcoin which leads the market had fallen about 60% from its price at the beginning of the quarter and had brought down the entire market with it. This had seen the crypto total market crash drop below $1 trillion for the first time in a 16-month period. The digital asset had closed the month at $19,918 after entering the month with an average price of $30,000. This had dashed the hopes of investors and the decline has left in its wake a number of events that continue to threaten the prices in the cryptocurrency market. BTC struggles to hold $19,000 | Source: BTCUSD on TradingView.com Bitcoin Investors Are Not Impressed Even though predictions had been incredibly bullish for the year 2022, it has since gone sideways. This has triggered investors to move their funds out of the market for fear of incurring more losses. Also, following previous historical trends, it remains highly possible that the digital asset may crash more before there is any significant recovery. Related Reading | Decline In Ethereum Futures On CME Suggests Institutional Investors Are Still Bearish Looking at the indicators, it shows that bitcoin has struggled to hold the important technical levels required for a recovery in the short term. It has been trading below its 200-week moving average for the first time in history, and this has deepened negative sentiment in the market. Although the digital asset has been moving away from established historical trends, there is still a high chance that it follows some of the previous market movements. One of these is when the bottom is usually in. Sticking to this would mean that the price of bitcoin will likely touch as low as $12,000 before the next bull trend resumes. Featured image from Coin News, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
PRESS RELEASE. Broxus, the core development team behind many of the platforms that make up the Everscale network ecosystem, will be hosting its first-ever hackathon in Belgrade, Serbia from July 14-17. The hackathon is the latest development in what has been a remarkable 2022 for the Everscale network. Everscale started off the year with its […]
Cointelegraph sat down with Chess Grandmaster Garry Kasparov at Consensus 2022 to get his thoughts on the crypto and NFT market.
Former hedge fund manager Michael Burry made another bearish prediction for Bitcoin and traditional equities. Renowned for his short position which preceded the U.S. housing market crash, and one of the periods in recent economic history for the world, Burry believes more pain for BTC’s price is ahead. Related Reading | Shiba Inu (SHIB) Shines Green In Pool Of Crimson – Who’s Buying? Currently, Bitcoin is trading at $19,400 with an 8% loss in the past 7 days. The cryptocurrency was moving sideways around its 2017 all-time high levels, $20,000, but the market took yet another turn to the downside and might re-test its yearly lows near $17,000. This could be a fraction of future losses, according to Burry. The former hedge fund manager has been bearish on BTC seems the cryptocurrency was trading north of $60,000, in October 2021. Via his Twitter account, Burry asked his followers tips on how to short a cryptocurrency: Ok, I haven’t done this before, how do you short a cryptocurrency. Do you have to secure a borrow? Is there a short rebate? Can the position be squeezed and called in? In such volatile situations, I tend to think it’s best not to short (…). A short time after, BTC’s price reached its current all-time high which could have resulted in major profits for Burry, if he was able to open a short position. In that case, he might still wait on taking profits, according to its latest prediction, traditional equities and BTC could experience more downside on the back of a bad earnings season: Adjusted for inflation, 2022 first half S&P 500 down 25-26%, and Nasdaq down 34-35%, Bitcoin down 64-65%. That was multiple compression. Next up, earnings compression. So, maybe halfway there. Some Good News For Bitcoin In The Short Term Two experts recently shared potential bullish catalyzers for Bitcoin, at least for a short period of time. Jurrien Timmer, Director of Macro for investment firm Fidelity, believes equities have a chance to rebound from their recent crash. However, Timmer believes the risk-off season could extend further while bond yields trend upwards. In the upcoming earnings season for U.S. publicly traded companies, one could provide more clues on what’s next for the market, including Bitcoin which has been displaying a correlation with traditional equities. With bond yields down and equities up, the correlation between the two asset classes remains slightly positive on a 12-month basis. It’s rare to see the Z-score for both stocks and bonds so negative at the same time. pic.twitter.com/BhJ8BklPmo — Jurrien Timmer (@TimmerFidelity) July 1, 2022 On the other hand, Bloomberg Intelligence Mike McGlone has been expecting a drop in the price of commodities. If these assets trend to the downside, the Fed might slow down on its economic tightening and provide risk-on assets like Bitcoin with some room for relief. Commodities rallying often indicate high inflation, they suggest the opposite when they trend to the downside which could suggest the U.S. financial institution might be succeeding at cutting down inflation, currently their apparent number one priority. McGlone said: Commodities Aren’t Complicated, 1H Was High: When the history of 2022 is written, there’s a good chance that the 1H pump in commodity prices will play out like similar surges in the past, with a reciprocal dump. Timmer and other experts believe that negative news on the economy, talks of economic recession, and a sustained market crash might allow the Fed to become more dovish on its monetary policy. The market has reacted to the downside as a result of the Fed, but some believe this will be insufficient to stop inflation. Related Reading | Ethereum (ETH) Bends Toward $1,000 As Doubt Fills Crypto Markets Fed Chairman Jerome Powell has expressed doubts about a less aggressive monetary policy. In an interview with The Wall Street Journal, Powell said bringing down inflation will result in “some pain” for global markets. Does this mean Burry will be right as in 2008?
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After all fees, would it be cheaper to buy and sent to ledger or just buy directly on my ledger? I know gas fees are brutal but is it enough to just buy it on ledger? submitted by /u/SusBrush [link] [comments]
