Category: Cryptocurrency News

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

Bitcoin is showing bearish signs below the $20,000 support zone against the US Dollar. BTC could accelerate further lower below the $19,500 support zone. Bitcoin started a fresh decline and traded below the $20,000 support. The price is now trading below $20,200 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $20,050 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a substantial decline if it breaks the $19,500 support zone. Bitcoin Price Remains At Risk Bitcoin price attempted a recovery wave above the $20,300 resistance level. However, there was no upside break and the price remained in a bearish zone below $20,500. Recently, Ethereum saw a major bearish reaction below the $1,500 support. As a result, BTC also moved a few points lower and declined below the $20,000 support. It even traded below the $19,600 and tested the $19,500 support zone. A low is formed near $19,509 and the price is now consolidating losses. Bitcoin price is now trading below $20,200 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $20,000 level. There is also a major bearish trend line forming with resistance near $20,050 on the hourly chart of the BTC/USD pair. Besides, the 23.6% Fib retracement level of the main decline from the $22,790 swing high to $19,509 low is just above the trend line. The next major resistance sits near the $21,000 level and the 100 hourly simple moving average. It coincides with the 50% Fib retracement level of the main decline from the $22,790 swing high to $19,509 low. Source: BTCUSD on TradingView.com A close above the $21,000 resistance might start a fresh increase. In the stated case, the price may perhaps rise towards $21,400. Any more gains might send the price towards the $22,000 resistance zone. More Losses in BTC? If bitcoin fails to start a recovery wave above the $20,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,500 zone. The next major support is near the $19,200 levels. A clear move below the $19,500 and $19,200 levels might open the doors for a move towards the $18,500 level. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $19,500, followed by $19,200. Major Resistance Levels – $20,000, $20,050 and $20,300.

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

Right now, I can stake 1 ETH on Coinbase, convert it to ETH2 and receive about .99 cbETH back. Or, I could directly swap 1 ETH on CB or Defi and get about 1.05 cbETH back. Similar discrepancies are there for other liquid staking tokens, too. Which begs the question: If I have unstaked ETH…
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I know to never give the phrase to anyone ever, the warnings are everywhere. to the point that I'm having a hard time finding information on the proper use of the phrase, like, the one time that I'm allowed to use it, as it's meant to be. maybe it's a dumb question but if I…
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submitted by /u/KryosX [link] [comments]

Given that the bear market isn't over, what passive income sources do you intend to employ during this bear market? Making passive income is one of the simplest strategies for surviving the crypto market's decline. I am certain that DCA is not the only option. Many people are searching for ways to make money because…
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Banking giant HSBC will not be offering crypto services, according to CEO Noel Quinn. Noting that HSBC is more negative on crypto than other banks, the executive stressed: “I do worry about the sustainability of the valuations of crypto.” HSBC Will Not Get Into Crypto, CEO Says The chief executive of HSBC, Noel Quinn, talked […]

Crypto prices have maintained a strong correlation with most macroeconomic factors. It’s no longer debatable that inflation affects the trend in the crypto market. Most past digital asset declines took root from the swing in the general global economy. The intensity of the crypto winter through the year’s first half had accumulated strength from potential inflation. However, due to the suspicions of inflation rise in the economy, crypto prices have shown signs of decline. The recent data on CPI have even pushed the market to another red region. Related Reading: Bitcoin Must Hold This Level Or Risk Falling To $10,000 The Consumer Price Index (CPI) is an economic indicator that measures inflation through the movement of the cost of goods and services. The percentage increase in the CPI over a given period provides the economy’s inflation rate for the given time. However, the report for July brought a slight relief as CPI indicated almost zero impact on inflation. With the positive significance of July’s information on the crypto industry, lots of hope got high. Many participants expect a more favorable result for August, but their expectations have been squashed. CPI Data Gets Below Crypto Community Expectations Finally, August’s released CPI report contradicts the crypto space’s expectations. The result revealed a 0.1% MoM change and an 8.3% YoY change, indicating a wrong value for the industry. The crypto market had estimated the CPI to be -0.1% MoM and 8.1% YoY. Also, against the anticipated core CPI of 6.1%, the real value is a 6.3% YoY rise. With the outcome of the CPI data, prices in the crypto market have started dropping. Bitcoin and Ethereum are taking the news badly as BTC and ETH have plummeted. The action of the crypto assets over the CPI data is not surprising. This is due to the impact of inflation on cryptocurrency volatility. While making its monetary policy, the Federal Reserve always considers the CPI. Currently, the Fed is using a hawkish approach as its control measure over inflation in the US. But, per Fed chair Jerome Powell, the Fed’s stance in controlling inflation will bring pain to businesses and homes alike. Potential Hike In Interest Rates Could Hit The Market Seeing the CPI data getting worse means more aggressive curbing actions from the Fed. A better report would have eased the tightening measures of the Fed. According to the CME Fed Watch tool, the Fed may impose about a 75bps rise in the interest rates. Such a hike in rates is a sad story for the prices of crypto assets. While hopes are dropping for a potential salvage in the crypto market, some hands are pointing to the Ethereum upgrade. The Merge is promising in the industry and could facilitate a price rally in the future. Related Reading: Bitcoin ETF Inflows Returns After Abysmal Phase But lots of traders have no confidence in the success of the upgrade. Hence, the crypto market could not have a handy savior. Featured image from CNBC, chart from TradingView.com

I just got a notification for a deposit and, without clicking any links or even opening a browser on the same device, I logged in and after checking my "Funding" page, it looks like I got about 2.25 ETHW deposited into my account. I'm not sure why I got that amount- it doesn't match any…
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