Category: Cryptocurrency News

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The announcement comes a month after Aave founder Stani Kulechov gets suspended from Twitter for his joke about being the interim CEO of the social company.

Panic struck the crypto market last week when Bitcoin broke below support, stablecoins unpegged from the dollar, and LUNA dropped to zero. The bloody aftermath has left cryptocurrencies as a whole more oversold than the Black Thursday COVID collapse. Here is a closer look at the historically oversold conditions in crypto. Total Crypto Market More Oversold Than Black Thursday It was a bloodbath in Bitcoin, apocalypse in altcoins. Even stablecoins pegged to the price of the almighty dollar were completely shaken. A nefarious actor or group of actors strategically attacked the dollar-peg of the UST stablecoin, causing a domino effect of algorithmically driven liquidation of reserve assets that included BTC. Related Reading | This Expanding Triangle Pattern Could Be The Last Hope For Bitcoin Bulls Bitcoin plunged through support and many altcoins reached a total drawdown of 80 to 90% or more. LUNA, an asset tied to UST, fell all the way to zero. Billions were wiped out from the total crypto market cap. If there was ever a time to be doubtful about the future of crypto, it might be now. However, market veterans recommend when things become doubtful, you zoom out. The weekly RSI is more oversold than on Black Thursday | Source: CRYPTOCAP-TOTAL on TradingView.com “When in doubt, zoom out,” holds true in this case. Comparing the recent crypto selloff with Black Thursday, the weekly RSI has reached even more extreme oversold levels. Meanwhile, the Black Thursday candle recorded a 50% drawdown, and the latest correction by contrast barely produced 30%. By definition, a hidden bullish divergence occurs when an asset’s price sets a higher low, yet the indicator sets a lower low. This often indicates continuation ahead.   Elliott Wave Theory suggest the cycle isn’t complete  | Source: CRYPTOCAP-TOTAL on TradingView.com Could Another 45% Collapse Still Be Ahead? Elliott Wave Theory could provide clues as to what continuation might look like ahead. The total crypto market cap is also trading within a parallel channel, of which it just touched the bottom of. The upper boundary of the channel is roughly $10 trillion USD. Related Reading | Bitcoin Bear Market Comparison Says It Is Almost Time For Bull Season While that fact might be the hope bulls need right now, bears still could have the last laugh. The weekly RSI has now reached the lowest level since the bear market bottom and the fourth lowest in its history on TradingView. Only three other times has the total crypto market cap been more oversold  | Source: CRYPTOCAP-TOTAL on TradingView.com Of the three previous lows set on the weekly RSI, two were bear market bottoms. The remaining low, however, was followed by another 45% plunge to the final bottom. Another 45% drop from here would take the total crypto market cap back to around $600 billion, or below the January 2018 cycle peak. Simply put, risk is still extremely high, but as oversold conditions increase, so does the potential for reward. Act accordingly. 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

Two Israel-based credit card companies, Max and Isracard, have started working on Bitcoin investment and cashback solutions via a credit card.

18% of respondents in a new survey said that learning more about the benefits of investing in cryptocurrency was the most effective approach to transition from skeptic to believer.

Peter Grosskopf, co-founder of the DeFi project Unstoppable Finance, tells Cointelegraph auf Deutsch what he thinks about new regulations for DeFi.

Bitcoin prices dropped during the hump-day session, as bulls were unable to maintain Tuesday’s gains. The world’s largest cryptocurrency once again fell below the $30,000 level, whilst ETH also moved lower. Bitcoin Following a slight rally in price during Tuesday’s session, bearish sentiment returned to markets on Wednesday. This sentiment saw BTC/USD drop to a […]

Vietnamese official Nguyen Chi Dung believes that data ownership and privacy can enhance the healthcare industry.

I'm trying to mint nft using erc721A which is developed by Azuki. But couldn't add token URI(NFT meta data) with mint function. submitted by /u/Fit-Dragonfly-6926 [link] [comments]

If you're looking for an investment opportunity that has the potential to change the world, Ethereum is it. This platform is the backbone of the new Internet of Things, and has the potential to revolutionize the way we interact with the digital world. From smart contracts to decentralized applications, Ethereum is going to change the…
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