Bitcoin Clings to $19K as Traders Place Bets Ahead of Key Inflation Data
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The head of the Wyoming-based bank was taken aback when BNY Mellon was approved to provide crypto custody services; her bank’s master account application is still not processed.
does everybody have free power or heating their houses with gpus? i don't get it submitted by /u/Dkg010 [link] [comments]
According to a letter penned by seven U.S. lawmakers, ERCOT was “intimately connected” with the growth of crypto mining in Texas.
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LTC price breaks down into a descending triangle as price failed to break above resistance, holding price from trending higher. LTC trades below 8 and 20-day Exponential Moving Average as the price struggles to regain bullish signs as the price continues ranging in a descending triangle. LTC prices continue to range as prices aim for a breakout in either direction. The price of Litecoin (LTC) continues to struggle as price ranges in an attempt to rekindle its bullish movement against tether (USDT). Litecoin (LTC) and other crypto assets enjoyed a relief bounce in previous weeks that saw the crypto market cap looking good for cryptocurrencies across the industry, with many producing double-digit gains; LTC showed some relief bounces but was quickly rejected into a range price movement. (Data from Binance) Related Reading: This Expert Suggests How Ripple Price Will Trend Amid Expansion In Europe Litecoin (LTC) Price Analysis On The Weekly Chart Despite having a tough time in recent months with the price falling to a low of $40 due to the market condition as the crypto market has remained in a bear market for over six months now, leading to many crypto assets retesting their weekly low while others are just hanging on key support. After the price of LTC rallied to a high of $300, the price declined as it dropped to a weekly low of $40, where the price held strong after forming support, and this region looked like a demand zone for prices. The price of LTC bounced off from this region of $40 as the price rallied to a weekly high of $65 as the price faced resistance to breaking higher as the price retraced to $100. LTC’s price has since continued in its range movement as price prepares to break out of this range as it aims to retest the resistance at $65. Weekly resistance for the price of LTC – $65. Weekly support for the price of LTC – $40. Price Analysis Of LTC On The Daily (1D) Chart On the daily timeframe, the price of LTC continues to trade below the 8, and 20-day Exponential Moving Average (EMA), which is not good for a short-term price trend to the upside. The prices of $53.5 and $52 correspond to the prices at 8 and 20 EMA acting as resistance for LTC. The price of LTC continues in a range-bound movement as the price has formed a descending triangle. The price of LTC needs to break out to the upside to resume its bullish movement; a break to the downside would send the price of LTC to a daily low of $47 and likely $40. Daily resistance for the LTC price – $55-65. Daily support for the LTC price – $47-$45. Related Reading: Why ApeCoin Traders Should Expect The Next Coming Days To Be Tough For APE Featured Image From CryptoCompare, Charts From Tradingview
The crypto market woes from September look to have spilled onto October and going against the historical trend of October being a rather bullish month. September had seen the crypto market close with muted performances, but there has not been much change for the new month. Almost two weeks into the month, and it is starting to look like the much-awaited “Uptober” will disappoint investors. Poor performances All-Around All of the indexes in the crypto market are seeing poor performances from market participants. The first two weeks of the month have come back with negative movement and the declines have continued. The size of a cryptocurrency has not mattered either since they have all suffered closely similar fates. Related Reading: Bitcoin Mining Difficulty Adjustment May Force Miners To Dump Their BTC The Small Cap Index came out as the worst performing for the first two weeks of October with -4.7%. This is understandable given small cap altcoins have been known to take movements a couple of steps further; recoveries run higher and declines run lower. Large Cap coins followed as the second-worst performer in the same time period with returns of -2.4%. A bit more surprising given that they closely follow bitcoin price but it did not fall too much behind the Mid Cap Index which saw a decline of -2.1%. Market performance remains bad | Source: Arcane Research Bitcoin emerged as the best performer for this time period with only -1.5% in losses. It also follows the trend that investors are turning more towards bitcoin during this time and taking advantage of the decline in price. Crypto Market Deviates From Norm All of the performances highlighted above only go to show that the crypto market is not performing as expected. Even though investors are moving back into bitcoin, the market share of stablecoins is still on the rise, so there is still a flight to safety among investors. Total market cap below $900 billion | Source: Crypto Total Market Cap on TradingView.com For the last week, the crypto market dominance of bitcoin fell by another 0.20%, and ETH fell 0.24%, with recorded losses from others in the top 10 such as BNB, ADA, and SOL. Most of this lost dominance went to stablecoins such as USDT, USDC, and BUSD, all of which saw an increase in their dominance. Related Reading: Here’s Why SUSHI Is Down More Than 10% In The Last 24 Hours Crypto market sentiment still remains low in the extreme fear territory, which suggests that there is no expected recovery in the market during this time. Unless there is a reversal in this move to stablecoins, the market will continue to see negative rates. Featured image from NASDAQ, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
Cointelegraph spoke with Steven Vasilev, the co-founder of RTFKT to learn more about how NFCs and NFTs can be used together to create better user experiences.
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