Category: Cryptocurrency News

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Bitcoin had previously succumbed to the bears and sank below the $20,000 mark for a considerable period of time. At press time however, the coin managed to rise above the $20,000 mark. Market conditions are still fragile and BTC can again fall below the $20,000 price level. Selling volume had increased which had caused BTC to dip on its chart in the past. As Bitcoin continued to oscillate between $22,000 and $19,000 for the past month, it is imperative that the coin manages to trade above the $22,000 mark for a considerable period of time for the bearish thesis to be invalidated. Accumulation has also been low for the king coin, as for most of this month, Bitcoin traded in oversold regions. Long term traders might not be on the winning side, but short-term traders can expect to make some profits. It is however, too soon to say if Bitcoin is out of the intense volatility phase. Fluctuations in price could again push BTC below its current trading level. Bitcoin Price Analysis: Four Hour Chart BTC was trading for $20,800 at the time of writing. The coin has formed an ascending channel within which it has been trading. It is too early to say if BTC has successfully depicted a breakout. Price of BTC has to rise above the $22,000 for this movement to be considered a breakout. Overhead resistance stood at $21,000 and then at $22,000, respectively. A fall from the present trading level will drag BTC to the $19,000 zone and then to $17,000. Amount of BTC traded declined considerably, indicating that selling pressure has fallen on the four hour chart. Technical Analysis BTC was moving upwards in an ascending channel and the coin flashed increased buying pressure at press time. The Relative Strength Index pictured recovery as the indicator pushed itself upwards above the half-line indicating falling selling strength. With continued buying momentum BTC can invalidate its bearish momentum. The price of the asset was above the 20-SMA which indicated buyers were driving the price momentum. BTC was also above the 50-SMA and the 200-SMA which is considered to be extremely bullish for Bitcoin. Related Reading | A Breakout Above This Level Could Help Polkadot Recover On Chart BTC in accordance with other indicators presented similar reading on the Moving Average Convergence Divergence. MACD determines price momentum and where the coin is headed, it underwent a bullish crossover. Due to the bullish crossover, the indicator displayed green signal bars which were buy signal for Bitcoin. Buyers acted on it, which is why the coin displayed increased buying strength. Parabolic SAR depicts price direction and dotted lines below the candlestick point towards positive price direction. Related Reading | TA: Bitcoin Price Could Surge To $22K, Why BTC Remains Supported Featured image from UnSplash, chart from TradingView.com

Three months ago, Funko Inc., disclosed that it was entering the non-fungible token (NFT) industry when it announced it acquired a majority ownership stake in the NFT startup Tokenwave. At the time, Funko’s CEO Brian Mariotti explained that “Funko Pop digital NFTs” have the potential to be a “game-changer.” On Friday, Funko announced the company […]

Just got notice. I can now do limit orders on the mobile which, to be honest, is kinda long overdue. I'm glad it's a feature now though. If you're a Coinbase One member you still have to pay fees while using the advanced trade tab whether you're doing limit or market. The no fee only…
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Welcome to the Daily General Discussion thread. Please read the disclaimer and rules before participating.   Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading,…
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Let's pretend we are in 2050, and crypto has taken over as the new form of money worldwide. By then, every single person over the age of 18 has maybe 2 wallets, one for emergency savings and another like a checking type account for daily use. Similar to bank accounts today. Some people in crypto…
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Graphene Energy Harvesting Chip source: https://www.ntsinnovations.com/innovationcenter source: https://journals.aps.org/pre/abstract/10.1103/PhysRevE.102.042101 source: https://news.uark.edu/articles/54830/physicists-build-circuit-that-generates-clean-limitless-power-from-graphene Asking for a friend… 🙂 Thank you for your help submitted by /u/Jeff_Jonas [link] [comments]

https://preview.redd.it/pacwrrj8ctb91.png?width=1875&format=png&auto=webp&s=e03849b66e84281605e0c6ae13360bcaa6fe1691 Monverse is a multi-chain battle and system game, initially planned and created on BSC. The game, motivated by the beasts, heroes and bowmen, spins around gathering and overcoming animals that have scattered the whole way across the blockchain. The game is, both player-versus-player PVP, and Player- versus-the-climate PVE. In its both ongoing interactions, the…
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Bitcoin funding rates had first fallen below the neutral level last month. Before that, the funding rates had been fluctuating at and below neutral for the longest time. This new trend has lasted longer than expected as the digital asset’s price continues to struggle. In this report, we take a look at the state of bitcoin funding rates as well as the implications if the present trend continues. Funding Rates Below Neutral When bitcoin funding rates had first fallen below neutral in June, the price of the digital asset was still trading well above $30,000. Since then though, multiple crashes and dips have seen the cryptocurrency lose more than $10,000 of its value and continue to struggle to hold above its previous cycle peak. Related Reading | Mid Cap Crypto Coins Lead In July, Best Way To Weather The Winter? However, despite the minor upward corrections that have been recorded since then, the funding rates have refused to budge. At the time of this writing, the funding rates have now spent a complete month with below neutral numbers. Binance and Bybit are some of the most prominent platforms when it comes to calculating funding rates and the last time the crypto exchanges had seen funding rates in the neutral level since bitcoin’s fall from $30,000 had been in mid-June. Instead, the funding rates have begun to mirror the movement of price and have not recovered since then.  Funding rates remain below neutral | Source: Arcane Research This comes despite a surge in the bitcoin open interest last week which reached a new all-time high. So the funding rates have deviated from the open interest and are now following the low yield rates that are being recorded in the market.  Will Bitcoin Recover? With bitcoin’s price above $20,000 once more, there has been some positive sentiment returning to the market. However, it remains shaky given that there is not a lot of support left at this point and the price can easily be pulled down by the bears. This is why the decline in the bitcoin funding rates remains a concern. Naturally, the funding rates are expected to see an increase when the price of the digital asset has declined as much as it has. But the opposite has been the case so far, meaning that there is not a lot of new money coming into the space, if any. BTC recovers just below $21,000 | Source: BTCUSD on TradingView.com For a prominent recovery in bitcoin’s price, an uptick in funding rates would need to be seen. When sentiment picks up among perp traders, the broader market is sure to follow.  Related Reading | Bitcoin Price Spends Four Weeks At 2017 Peak Prices, What Comes Next? Additionally, the inflation rate from the CPI report on Wednesday was higher than expected. While that has resulted in a spike in the price of bitcoin, it has been a short one. For this to hold, the market needs to see more buying momentum. Featured image from CNBC, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…