Category: Cryptocurrency News

The crypto rial has been in preparation for years; its introduction comes on the heels of the country’s introduction of cryptocurrency for foreign trade.

submitted by /u/Coastalcr0wn [link] [comments]

Started staking in August 2021 because coinbase promised interest. Now that the merge happened I am getting apr every few days on the current amount but all of the amount from the past year doesn’t show anymore. Should I still expect to get the interest accrued the past year? I’m struggling to find any emails…
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Two days ago, U.S. president Joe Biden was criticized for claiming inflation in America hasn’t increased during the past few months. “I’m telling the American people that we’re going to get control of inflation,” Biden stressed during his “60 Minutes” interview that aired on Sunday night. Amid Biden’s claims, ahead of the next Federal Reserve […]

In this episode of NewsBTC’s daily technical analysis videos, we look at the volatility in Bitcoin price action following the FOMC meeting today where the Federal Reserve announced a 75 bps rate increase. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 21, 2022 Bitcoin price action has been ultra volatile before and after the United States Federal Reserve announced its decision to increase rates by 75 basis points. Although the market had been considering as much as a 100 basis points increase from the increasingly hawkish Fed, the central bank ultimately chose a slightly softer touch. Fed Chair Jerome Powell expects rate increase to continue well into next year, with inflation not returning to the normal 2% rate until at least 2025. Related Reading: When Will Crypto Winter Thaw Out? Total Crypto Market Cap (TOTAL) September 20, 2022 Crypto Market Gets Volatile Before & After Fed Rate Hike Decision To demonstrate the incredibly powerful volatile proper to the announcement, Bitcoin plunged by 6% in only one minute of trading. Less than an hour later, the top cryptocurrency retraced almost the entire move, yet is now struggling to keep its head above $19,000 support. Not just Bitcoin, but anything that trades against the dollar moved in a similar manner. Bitcoin price plunged 6% in a single minute of trading action today | Source: BTCUSD on TradingView.com TD9 Buy Signal Appears On Bitcoin, But Beware Of Another Low The Bitcoin daily is working on a TD9 buy setup. Beware of the series perfecting, which requires a lower low beyond $18,300 where bull staged a defensive move earlier this week. A TD9 buy setup has triggered on the daily, but another low makes perfect | Source: BTCUSD on TradingView.com Related Reading: WATCH: Bitcoin Bloody Monday Leads To Reversal Hammer | BTCUSD September 19, 2022 Tug-of-War On Weekly Timeframes Between Bears And Bulls Bitcoin briefly pushed back into bull territory on the weekly LMACD histogram. A bullish crossover at these levels on weekly timeframes has led to a bottom being put in in the past. Cyclically, it is clear that this is a level to watch for a bullish reversal. By the time we finished the video above, Bitcoin plunged back down to the below the $19,000 level and bears successfully uncrossed the LMACD crossover yet again. A tug of war is going on, and whoever wins will have the upper hand when it comes to momentum. Bears continue to prevent a bullish crossover, but bulls are trying | Source: BTCUSD on TradingView.com Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here to access the free educational program. Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

Jerome Powell is lengthening economic pain by refusing to raise interest rates at the necessary pace. It’s time to rip off the band-aid.

“Staying at the forefront of digital innovation is a key priority for Nomura,” said president and group CEO of Nomura Holdings Kentaro Okuda.

Ethereum’s recent upgrade has pushed miners out of its network. Now Ethereum 2.0 support validators who staked 32ETH and above in the network. The community expected the merge to push the price of ETH and other cryptos up. But the reverse became the case afterward. Related Reading: Ethereum: Can The Top Altcoin End Bitcoin’s Dominance Post Merge? A few minutes after the event on September 15, Bitcoin lost $1K. Ethereum also lost more than $200, plummeting from $1,635 to $1471 same merge day. The next few days, on September 18, ETH price shaded off more and landed on $1335.33.  Currently, on September 21, Ethereum is trading at $1344.45. This price shows a 0.17% price decrease in 24 hours. Its hourly gain shows 0.17%, but the 7 days price movement indicates a 15.91% loss.  Ethereum Miners Dump ETH Holding Increasing Pressure  Recall that Ethereum is no longer operating with a proof of work consensus mechanism. The combination of its Beacon Chain and mainnet has rendered miners useless on the network, replacing them with validators. Even though the miners hard-forked the network creating the ETHPOW, the new network has suffered attacks and is not yet as strong and promising. The crypto market expected a price reversal from bearish to bullish after the Ethereum upgrade. But after the event, the ETH price dropped, and the supply of ETH increased. This is not surprising because miners started disposing of their ETH coins before the merge. Ethereum miners initially gained 13,000 ETH every day on the PoW network. But on the new PoS, validators get only 1600 ETH. Miners’ rewards dropped by 90% after the merge, which could have lowered ETH supply advantageously, pushing the price upward.  Unfortunately, Ethereum miners have dumped up to 30K ETH holding due to the price movement and the upgrade effect. This was the reason behind Ether’s price plunge from Merge day. The continuous selling added pressure on investors causing more price losses.  The current state of crypto assets is not promising. Many enthusiasts are also dumping their holdings as prices continue to plummet. What is the Implication for Ethereum?  As miners continue dumping their ETH on the market, the price of Ether will keep falling. Even though the other factors that could have boosted the price remain positive, miners’ exit from the Ethereum market has worsened everything for ETH.  Currently, many analysts are predicting that Ethereum might drop to $750. If the miners continue selling spree coupled with the macroeconomic factors, that price level will likely occur soon.  Related Reading: Post-Merge Profit-Taking Cuts 13% Off Ethereum Ratio Against BTC Moreover, the upcoming Feds rate hike is causing panic already. Many investors dread the announcement as it might make the market bullish or bearish. If the rate stays 75 bps, there’s no problem. But the market is in trouble if it goes high to 100 bps.  Featured image from Pixabay and chart from TradingView.com

So with ETH now being proof of stake, and already >50% of staked eth being held by only 4-5 entities, how safe is the network if these entities liquidate their position and make way for other potential bad actors? Or if bad actors stake enough to makeup 51% of staked eth? Or any other number…
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