Category: Cryptocurrency News

Over the past few days, Bitcoin and crypto market has been enjoying traces of bullish appearances. Most crypto assets have been in the green, with some reclaims in their values. But the northward climb has just died out as of yesterday. EthereumPoW (ETHW) value crumbled by a whopping 11%. The Altcoins are not left in the new bearish trend. Most have taken to the south as they push the crypto market into the red. Despite several attempts, Bitcoin has again failed to hit its critical level of $20,000. Related Reading: 2022: The Year Of Crypto Market Fear Drastic Crumbling For ETHW And LUNC Over the last few days, there’s been a sudden cut in the latest uptrend within the crypto market. Most of the crypto assets are losing the previous reclaimed values. Before the bearish trend, Ethereum reclaimed up to 5% in its value shooting the price of ETH to nearly $1,350. However, the past day’s price decline has brought ETH to $1,288. EthereumPoW (ETHW) has suffered one of the worse losses of about 11%. Also, Terra Classic (LUNC) declined by about 7.5%. Crypto assets with minor gains include Uniswap, Tron, and Leo. Losers from the large-cap altcoins include Ripple and Cardano, with over a 3% drop. Others are Solana, Polygon, Polkadot, Binance Coin, Shiba Inu, and Dogecoin. Bitcoin Stalls Before The $20K level Last week, Bitcoin was on a price swing with little or no control over its movement. The primary crypto asset even went down to the $18K region after several attempts to anchor its price on $20K. The release of the US job report created an impact taking BTC to $18,200 However, changes started to occur with increasing volatility in the crypto market. The leading cryptocurrency made more surges from the start of this week. The token movement stalled relatively in the early hour of Monday but later picked the same. As a result, the price of Bitcoin rose again to the $19,000 region and gradually maintained its hold on the level. BTC later hit $19,700 this week. Also, kept looking for a more bullish push that could take it to the coveted $20K. However, the situation in the entire crypto market has suddenly twisted in a downward direction. As a result, Bitcoin couldn’t push through with a further move to the $20K level. Related Reading: Ethereum Mimics Bitcoin As The Bulls And Bears Tussle; Who Will Dominate? At the time of press, BTC is trading at around $19,092, indicating a drop over the past 24 hours. Also, its market cap is currently at $366.91 billion, and its dominance over altcoins sits at 39.88%. Based on data from the on-chain analysis, there have been several suggestions for further pain in the future for BTC. The belief is that Bitcoin displays a similar trading trend to the 2018 bear market. Featured Image From Pixabay, Charts From Tradingview

CZ replied to users on Twitter about Binance’s becoming the second-largest voting entity in the Uniswap DAO.

Data shows the daily Bitcoin volatility has declined further this week, reaching very low levels not observed in around two years. Bitcoin 30-Day Volatility Has Come Down To Just 1.9% In Recent Days As per the latest weekly report from Arcane Research, the 7-day volatility made a low below the 1% mark earlier in the week. The “daily volatility” is an indicator that measures how the per day returns of Bitcoin have differed from the average during a specific period. While this period can be of any length, two versions of the metric are particularly natural, the 7-day volatility and the 30-day volatility. Now, here is a chart that shows the trend in these daily Bitcoin volatilities, as well as the daily returns in the price of the crypto, over the past year. Looks like the values of the two metrics have been quite low in recent days | Source: Arcane Research’s The Weekly Update 41, 2022 As you can see in the above graph, the Bitcoin volatility has been trending down during the last few weeks as the price of the coin has been stuck in consolidation. The 7-day version of the indicator breached below the 1% level just recently, before forming a low there and rebounding back to the current 1.1% level. Related Reading: 2022: The Year Of Crypto Market Fear This bottom was the lowest level that the metric has seen since the July of 2020, around when the rebound following the COVID crash took place. The 30-day Bitcoin volatility is also at a historically low level at the moment as the indicator’s value is just 1.9% right now. The report notes that while these volatility values suggest a completely stale price recently, it has also been true that the crypto has seen some intraday activity, which the indicator doesn’t account for as it only takes the daily closing prices. Related Reading: Ethereum Mimics Bitcoin As The Bulls And Bears Tussle; Who Will Dominate? The price of Bitcoin fluctuated by almost 9% in 12 hours on Thursday as the US CPI release went live. But this price change was almost entirely gone by the time the daily close happened. Historically, periods of very low volatility such as now have been succeeded by those of violent price movement. It now remains to be seen whether BTC observes a similar trend this time as well or not. BTC Price At the time of writing, Bitcoin’s price floats around $19.1k, up 4% in the last week. Over the past month, the crypto has lost 2% in value. The below chart shows the trend in the BTC price over the last five days. The value of the crypto seems to have continued to consolidate during the last few days | Source: BTCUSD on TradingView Featured image from Dmitry Demidko on Unsplash.com, charts from TradingView.com, Arcane Research

A group of Russian and Venezuelan nationals have been charged by U.S. authorities for their roles in a scheme to circumvent Western sanctions and launder money on a global scale. They have been accused of obtaining military technologies from American companies, smuggling oil, and disguising money flows for Russian oligarchs through shell companies and crypto […]

In a long blog post full of proposed standards to guide the industry in the absence of regulations, Sam Bankman-Fried says FTX US will not list assets its lawyers think may be securities.

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A new token was born after the inventor of Ethereum, Vitalik Buterin, tweeted about DIE. Previously, Buterin joked about launching a project called “THE Protocol,” The community took it about themselves to mint it and boosted its value.  Related Reading: Ep03- OneCoin – Companion Guide For BBC’s “The Missing Cryptoqueen” Podcast Across social media, people are starting to speculate on DIE, the article “The” written in german, flipping THE. Despite the persistent bear market, which has led Bitcoin and Ethereum to crash 80% from their all-time high, the meme coin movement seems alive and well, directly or indirectly supported by Vitalik Buterin.  APED $DIE due to Vitaliks tweet. My friend Faust the dev launched so its safu 🚀🚀 130k mcaphttps://t.co/RgTcYkDtcahttps://t.co/5Di7fM9L9O — Wabi Wabi 🍣 (@WabiWabii) October 20, 2022 Vitalik Buterin Fuels Meme Coins Prices As Crypto Market Stalls The crypto bear market is pushing traders and market participants to the edges of boredom, allowing these new tokens to capture attention. When Bitcoin and Ethereum are rangebound, traders are attracted to the volatility in DIE and THE.  In addition, Vitalik Buterin has a massive platform in the space. The recent upward trends in these meme coins show that the support, or indirect endorsement, from the inventor of Ethereum, can boost the price of any token, even those with a small market capitalization.  THE and DIE are trending because of crypto influencers’ support and personalities other than Vitalik Buterin. These accounts have thousands and thousands of followers willing to jump into any project sponsored by these personalities.  $DIE quickest 200x this year 🥴 easily a 2000x potential here. Keep raiding VB + all the CT $THE influencers, and this will get pushed to the same level at $THE ($40M a few hrs ago) https://t.co/jDllyH2v0y pic.twitter.com/xSkwyWbycy — 🎃thomas (@crypto_TomTom) October 20, 2022  In just five days since its launch, THE has doubled its market cap, reaching over 4,000 holders and gaining much attention on social media platforms. The project is supported by popular crypto influencers, such as Crypto Bitlord, Jaso Crypto, Eric Crypto, David Gokhshtein, and others.  Related Reading: Uniswap Coin’s Bullish Trajectory Sets UNI To Breach $7 Level – Time To Buy? Gokhshtein, whose Twitter account has over 600,000 followers, wrote the following on THE and the meme coin movement:  So $THE is the next $SHIB? All it takes is for one person with a huge platform like Vitalik Buterin to crack a joke and it turns into a project. That’s crazy. In the past 5 days: – $THE hit 30M mcap ATH – $THE reached 4000 holders – 30K Tweets by the community – @VitalikButerin likes $THE tweets – @elonmusk trying his best not to say $THE, but really wants to.👀 – @crypto_bitlord7, @bull_bnb @EricCryptoman & dozens more big names in. — $THE JasonCryptoApe  (@JasonCryptoFTW) October 19, 2022 

We will have u/TylerFoust13 on r/CryptoCurrency for a Reddit talk tonight at 8PM EDT / midnight UTC to discuss their Foustlings collaboration with u/Reddit NFT avatar collections! Join us to find out more about u/tfoust10 and Reddit's avatar collections! submitted by /u/jwinterm [link] [comments]

Less than 40% of surveyed respondents said they supported the approval of Bitcoin as legal tender.

Many comment or think that the end of cryptocurrencies is near because they are falling more and more, but in reality it is not like that, cryptocurrencies are just breathing for their next boost, maybe it will take a year or maybe it will be the next halving that gives one more boost great to…
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