I don't understand all of the panic when we've been range-bound for almost the entire month of December (unless you've been using excessive leverage). I don't think we should be panicking unless there's been a significant break to the downside. https://preview.redd.it/g5mh1mpnyb881.jpg?width=1280&format=pjpg&auto=webp&s=8b4d89700c93bc0a8a74ff1c4e7a8cd8409bcc55 It's possible that 2022 could continue into an even steeper bear market. Bear markets…
Read more
submitted by /u/CandyCanePapa [link] [comments]
Billy Markus, creator of popular cryptocurrency Dogecoin (DOGE) has disclosed his holding in this cryptocurrency. Via his Twitter account under the user Shibetoshi Nakamoto, Markus addressed his role on the project and replied to questions made by other users. Related Reading | Tesla To Accept Dogecoin For Merchandise, Token Soars 30% Markus and Jackson Palmer co-created DOGE back in 2013 as a parody to Bitcoin. Since its inception the cryptocurrency has gained popularity and hence increased its value from well below the $0.010 to an all-time high north of $0.70 providing many earlier supporters of this project, and those that hype in due to Elon Musk’s tweets, with massive gains. DOGE’s surge in 2021, the attention it has received from retail investors, Musk and crypto personalities have made Markus’ twitter account one of the most recognizable and with the most followers. The co-inventor of the Shiba Inu inspired cryptocurrency has had to constantly remind new investors that he is no longer involved with the Dogecoin project. As he revealed his DOGE holding, far less that what many would have assumed, Shibetoshi Nakamoto claimed the following: Yet another reminder: I don’t speak for dogecoin. I am not on the project. I am a community member. I hold about 220k doge. I will defend those who I feel are actively making the space better. I will discourage those who I feel aren’t. I will talk about whatever I want. Markus lives up to the spirit of DOGE, he avoids “entitlement” and claims to be all about this crryptocurrency’s community supported by volunteers. Thus, Markus told his followers that he “will never” go back to coding DOGE, he has been very open on his stance about the crypto industry and related projects: (…) working on a crypto project is terrible as I have actually found the more you do for people, the more entitled they get and worse they treat you. I respect the developers a lot for volunteering to do so for all these years. DOGE Advances On The Back Of Its Community? The Dogecoin project is support via the Dogecoin Foundation, brought back on August 16th, 2021, with the help of Elon Musk, and Vitalik Buterin, the inventor of Ethereum. This non-profit organization published a trailmap for DOGE. Related Reading | Elon Musk Sells Tesla Shares For $5B. Will He Buy Dogecoin? Billy Musk is part of said foundation in the role of “community and memes” advisor alongside Jared Birchall, a representative for Elon Musk, Buterin, and Max Keller a Dogecoin core developer. According to the the trailmap, Dogecoin is bound to receive more use cases and implementations in the future. In the meantime, DOGE has been correcting in the 24-hours as the general sentiment in the market turns bearish and major cryptocurrencies bleed into critical support. Dogecoin lost its spot in the crypto top 10 by market cap but remains one of the 20 most valuable projects in the crypto space.
submitted by /u/Old_Afternoon3853 [link] [comments]
In recent times the dollar / most other currencies are losing value at such a high speed that it won’t matter if BTC is $100k because your $100k then won’t be as valuable as $50k now. Governments / People in power are doing so much illegal and wrong shit and as normal citizens it’s impossible…
Read more
Current gas fees: ~0.02 eth Gas fees at $10000: 0.02 eth x $10000 = $200 Gas fees at $4000: 0.02 eth x $4000 = $80 Gas fees at $100: 0.02 eth x $100 = $2 What is the logic in making eth deflationary and increasing its price if it disincentives actual usage? I understand from…
Read more
On-chain data shows Bitcoin netflow trend is once again shifting from outflows to inflows, a sign that could prove to be bearish for the crypto. Bitcoin Netflow Trend Is Changing To Inflows From Outflows As per the latest weekly report from Glassnode, BTC netflows have once again started to move from a trend of net outflows to more inflows. The “all exchanges netflow” is an indicator that measures the net amount of Bitcoin entering or exiting wallets of all exchanges. The metric’s value is calculated by simply taking the difference between the inflows and the outflows. When the indicator has negative values, it means outflows are overwhelming inflows as a net amount of BTC is being transferred out of exchanges. Investors usually withdraw their coins from exchanges for accumulation purposes. And so, such a trend can be bullish for the crypto. On the other hand, positive netflow values signify that a net amount of Bitcoin is being deposited into exchange wallets. Since holders generally move their crypto to exchanges for withdrawing to fiat or for purchasing altcoins with them, such values of the indicator may be bearish for the coin. Now, here is a chart that shows the trend in the BTC netflow over the course of 2021: Looks like BTC inflows are on the rise | Source: The Glassnode Week Onchain (Week 52) As you can see in the above graph, the netflows have been oscillating between the +5k BTC and -5k BTC lines throughout the year. Though there have been some brief periods where the indicator’s value broke out of this range, but overall the trend has been consistent. Related Reading | Five Bitcoin Short Films For A Lazy Holiday Evening: Energy, Money, &… Basket? Looking at the chart, it seems like the indicator is currently shifting towards inflows again, after a period of big outflows. The report notes that it’s worth keeping an eye on this trend to see if these inflows intensify or rather decline towards the start of the new year. Related Reading | Bitcoin Leverage Ratio Hits New ATH, Is More Price Decline Coming? If the inflows do sustain for a while, then the outlook could be bearish for the price of BTC, similar to back in May of this year. BTC Price Bitcoin’s price reached almost $52k yesterday, but has since declined again. At the time of writing the crypto’s price floats around $49.2k, up 0.5% in the last seven days. Over the past thirty days, the coin has lost 9% in value. The below chart shows the trend in the price of BTC over the last five days. BTC’s price seems to have plunged down in the past 24 hours | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, Glassnode.com
With three days left until the end of 2021, the Ethereum network and its native token ether have had a phenomenal year as ether has increased more than 450% in value in 12 months. 145 days ago, on August 5, the Ethereum network implemented the London hard fork and since that day, 1,283,226 ether worth […]
Coinmarketcap and coingecko list new cryptocurrencies every day. For the past year I have been checking those listings almost everyday. Majority of them are low-effort, poorly created, and pathetically named copy-paste coins. After a year of practice, I have become fairly good at sifting through the scam-shit-coins. Now before you'll jump the gun, I'd like…
Read more
submitted by /u/ttv_CitrusBros [link] [comments]
