Category: Cryptocurrency News

The Crypto Law is aimed at making Panama “compatible with the digital economy, blockchain, crypto assets and the internet.”

I thought they were only connected by a bridge. submitted by /u/0-Gam3rboy7-0 [link] [comments]

submitted by /u/Remarkable_News2455 [link] [comments]

Bitcoin has returned to the $40,000 levels as it bounced back from the high area of around $30,000. The first crypto by market cap managed to hold off the bears and retraced some of this week’s losses. Related Reading | TA: Ethereum Faces Key Challenge, Why Fresh Decline Still Possible At the time of writing, BTC’s price trades at $40,200 with a 3% profit in the last 24-hours. The general sentiment in the market seems pessimistic as Bitcoin remains rangebound in higher timeframes. The cryptocurrency has been trading in the $30,000s to the $60,000s area, and in a tighter range over the past months. Unable to break above local resistance, located at $45,000 and $48,000, market participants seem to have lost conviction over short-term appreciation unless BTC’s price can break above those levels. According to a recent market update posted by Material Indicators (MI), in the current BTC’s price range, the area between $36,500 and $40,500 is the most critical. These levels operate as a consolidation range and as a zone that has a “marked prior accumulation phase and distribution”. In other words, those levels have been important for Bitcoin because they provide clues on potential price action. As seen below, since 2021, when the cryptocurrency reaches these levels either trends upwards to the top of its range (around $69,000) or goes lower to re-test support. In order to discover BTC’s current phase, MI analysts looked at the cryptocurrency’s heatmap along with three important moving averages. The first is the 100-day moving average located at around $36,000, the second is the 200 moving average at around $21,000, and the third is the 50-moving average at around $45,000. Showing the chart below, the analysts said: Zooming in slightly to the 3 Day chart reveals that 3-Day 50MA crosses below the 100 3-Day MA have triggered rallies and interaction with the 3-Day 200 MA has either led to a rally or breakdown to the macro bottom. BTC has checked all of those boxes this week. Bitcoin About To See More Losses? The macro-economic outlook spells further losses for Bitcoin and other risk-on assets. Therefore, the analysts said the situation could get “worse”. Material Indicators stated that BTC’s current price action could be a way for large investors to increase their short positions before a re-test of the macro bottom around the 200-day moving average. Therefore, they advised market participants to be cautious. They added: Until #BTC reclaims the key moving averages these are considered distribution rallies used to sell the rip or add to short positions. Expect more volatility coming into the Monthly close/open. From MI’s analysis, leverage traders should be careful of upcoming volatility or should check their expectations of an immediate reclaim of the top of the range. Related Reading | Bitcoin Futures Basis Nears One-Year Lows, How Will This Affect BTC? At the same time, a large portion of the market seems to be expecting more downside. An increase in short positions could make these participants vulnerable to a long-short squeeze and push Bitcoin into previous highs.

A quant has pointed out some similarities between the current and summer 2020 Bitcoin markets through on-chain data. Bitcoin Exchange Supply Shock Ratio Has Rapidly Risen Recently As explained by an analyst in a CryptoQuant post, there seem to be some similarities between the current market trend and that during the summer of 2020. The “exchange supply” is an indicator that measures the total amount of Bitcoin present on wallets of all exchanges. This supply is usually assumed to be the selling supply of the crypto as investors generally transfer their coins to exchanges for selling purposes. The supply in cold wallets of investors, on the other hand, is likely being held for accumulation, and is unlikely to be sold. The ratio between this investor wallet supply and the exchange reserve is called the “exchange supply shock ratio.” When the value of this metric goes up, it means the supply on exchanges is dropping and investors are filling up their cold wallets. Related Reading | Bitcoin Futures Basis Nears One-Year Lows, How Will This Affect BTC? On the other hand, a downtrend suggests a push to sell from sellers as they deposit their Bitcoin to centralized exchanges. Now, here is a chart that shows the trend in the BTC exchange supply shock ratio over the past couple of years: The value of the indicator seems to have been on the rise recently | Source: CryptoQuant In the above graph, the quant has marked the relevant trends of similarity between the Bitcoin markets of summer of 2020 and of right now. It looks like during both the periods, the price was trending down or moving sideways, while the exchange supply shock ratio had been rapidly going up. Related Reading | Institutional Investors Bearish On Bitcoin, Ethereum. Here’s What They’re Buying Despite the struggling price at the moment, investors have showed demand for the crypto as they have been rapidly accumulating recently (similar to back then). What followed a few months after the summer of 2020 was the start of a new Bitcoin bull run due to the resulting “supply shock.” The BTC price is heavily tied to the stock market currently, and the analyst believes it’s possible that once it decouples, a similar shock could be there this time as well. BTC Price At the time of writing, Bitcoin’s price is trading around $39.8k, down 7% in the past week. Over the last month, the crypto has lost 15% in value. The below chart shows the trend in the price of the coin over the past five days. The price of the crypto looks to be steadily climbing back up after the plunge down a few days ago | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

Him Das said FinCEN’s current authority under the PATRIOT Act would likely not stop actors from engaging in illicit transactions for ransomware attacks and darknet markets.

APE price continues to hit new all-time highs as BAYC, MAYC and NFT investors prepare for the highly anticipated Otherside land auction.

Hi there 👋 I am learning blockchain development using go and geth. I was wondering if I could get suggestions from you all on simple projects that could be built for learning purposes. Note: for now, i am not learning solidity so I won't be developing my own smart contracts, so only looking for ideas…
Read more

submitted by /u/web3d3v [link] [comments]

Yes. This is strange. Yes. This is weird. However, I want to say I was the first to actually do something. Is there any feasible way of selling my soul as an NFT? People say others have sold their soul to the devil. I’m trying to one up people on OnlyFans selling feet pics and…
Read more