Category: Cryptocurrency News

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At the end of May last year, Tesla’s Elon Musk convinced bitcoin industry leaders to form a Bitcoin Mining Council (BMC) and in mid-July, the BMC launched its public services and website. On April 25, 2022, the organization published a report that discusses the bitcoin mining industry’s improvements in sustainable energy use during the first […]

It’s a historic day for cryptocurrencies in Brazil, as the Senate has finally approved the country’s first bill aimed at regulating the crypto market. The bill still needs to be approved in the Chamber of Deputies and then sanctioned by President Jair Bolsonaro.

They say that a little knowledge is a dangerous thing, and one of the most dangerous things in crypto is to buy into a limited narrative that takes a very complex issue and presents it as a very simple one. If you are relatively new to crypto and think that “it’s obvious”, then hopefully this…
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I don't usually post my content to this subreddit, but I'm really proud of this video and think it can help a lot of people out there in this space. Since crypto assets swing in crazy ways for better or worse, it can create a volatile set of emotions that can easily get out of…
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The Ethereum Merge is the most critical aspect of the ETH 2.0 upgrade, since it will convert from a proof-of-work to a proof-of-stake system. The move from proof-of-work to proof-of-stake consensus is the focus of the upgrade. The improvement, as previously reported, has been postponed until the end of 2022, with no specific deadline in sight. The world’s second-largest cryptocurrency was meant to be weeks away from the “merge” a June upgrade of its blockchain Ethereum that would make it faster, cheaper, and less power demanding, promising a meaner and cleaner crypto future. Ethereum Merge Will Help ETH Messari’s senior research analyst Tom Dunleavy believes in a report titled “The Decoupling Thesis” that the Ethereum merger will likely be a major turning point in investors’ economic outlook. He points out that in the past, the crypto market leaders, Bitcoin and Ethereum, had a high positive association with the broader US stock market. For longer durations, the correlation between the two cryptos and the Nasdaq and S&P 500 index was 40-50 percent, while for shorter periods, it was about 90 percent. Related Reading | The Top 5 Most Valuable NFT Collections And A Tool To Track Them Down Gold and US government bonds, on the other hand, have historically had a negative correlation with stocks. However, this negative link is weakening at the moment. During the 2020 market slump, both gold and bonds, as well as equities, fell. ETH/USD trades at $2,821. Source: TradingView “The timeline for seeing this launch continues to extend,” said Brendan Playford, founder and CEO of decentralized financial data platform Masa Finance. She added, “It’s certainly plausible that Ethereum’s highly anticipated upgrade to a proof-of-stake system could be delayed again given that this transition is highly complicated and still uncertain as to whether it can actually deliver on its promise of lowering costs and increasing transaction speeds.” On April 11, Ethereum declined 8% from $3,215 to $2,947, the day Ethereum principal developer Tim Beiko announced on Twitter that the June deployment had been postponed as testing proceeded. This month, it has dropped 13% to $2,844. Following the merger, ETH will function as a quasi-government bond. Stakers will put up money in exchange for a fixed rate of return, similar to a bond principle. This will also cement Bitcoin’s status as a form of digital gold. The Merge May Push The Flippening Forward Messari has projected that the broader crypto industry would divorce from global markets by 2022. Various segments of the crypto business will continue to gain traction, according to the market research firm. Meanwhile, predictions that the merger will propel Ethereum over Bitcoin are still circulating. Noelle Acheson, head of market analytics at Genesis Trading, told Reuters that after the merger, more funds will flock to Ethereum. ETH is currently trading at around $2,850, with a market value of $343.98 billion, while Bitcoin is currently trading at around $38,200, with a market capitalization of $726.69 billion. Related Reading | TA: Ethereum Reclaims $3K, Can The Bulls Clear This Key Hurdle Featured image from Getty Images, chart from TradingView.com

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Bitcoin, the flagship cryptocurrency has remained below $40,000 over the past few days. The broader market correction has pushed altcoins to trade below their key support levels. Ethereum was priced below $3000 as the coin was rejected from the aforementioned price level. Bitcoin’s tough resistance stands at $40,000 as traders continue to exit the market over the last week. In the last 24 hours, BTC had fallen by 3% and in the past week, the coin registered a 6% depreciation. The crypto market continues to be in an accumulation phase. Increased accumulation is often tied to bullish pressure in the market, however, the market paints a different picture. Higher accumulation is also tied with increased risk/ratio which is basically a bullish indicator for the coin. Other Metrics To Reinforce That Bitcoin Could Pick Up A Bullish Price Direction Data from Kaiko display that trade volumes have gone down for both BTC and ETH. The image below depicts the dip in trade volumes seen on major centralized exchanges, it shows how BTC and ETH are at their lowest trade volumes ever since the August 2020 bear market. Essentially, this could mean that people might be holding onto their assets as the accumulation phase suggests and that prices are anticipated to go up. Currently, Bitcoin’s short-term price action remains bearish amidst a broader market weakness. Bitcoin Price Analysis: Four-Hour Chart Bitcoin was exchanging hands at $38,202 at the time of writing. It broke below its support level of $39,800 in the immediate past trading sessions. BTC has been battling the $40,000 mark for over a week now. Buyers have exited the market which is why the coin continues to struggle between the range of $40,000 and $38,000 respectively. In case prices see a turnaround, BTC could trade near $40,000 and a slight push could help BTC touch the $42,000 mark, however, that level might act as a tough resistance for BTC. A fall from the present price will drag the coin to $37,702. Technical Analysis Bitcoin was seen trading below the 20-SMA mark, a reading that means selling pressure is mounting. Sellers were driving the price momentum in the short term. Just 48 hours back, buyers had re-entered the market, this amounts to the fact that BTC is trying to rebound on its charts. The coin was briefly placed above the 20-SMA line just 24 hours back until BTC started to exchange for $38,000. On the Relative Strength Index, buyers have again briefly exited the market and could resurge if demand pushes the coin to rise above 20-SMA. BTC depicted positive price momentum in the last 24 hours, however, a further push caused the coin to reflect bearishness. The Awesome Oscillator flashed green histograms briefly, at press time AO displayed red histograms. MACD that indicates price momentum displayed green histograms but corroborated with the AO as the indicator also showed red signal bars. The brief green signals are a tell that with just a bit of buying strength, BTC can be up and about.

​ Somewhere The Rainbow Chart for Bitcoin is pretty much a fun way of looking at long term price movements, disregarding the daily volatility “noise”. The color bands follow a logarithmic regression (introduced by Bitcointalk User trolololo in 2014). Not sure if we've hit the peak at 69420 last year in this halving cycle, but…
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Abu Dhabi Global Market has awarded a full financial license to crypto exchange Kraken. “Kraken will be the first global virtual assets exchange group in the UAE to offer investors the ability to invest, trade, withdraw and deposit virtual assets (bitcoin and ether) directly in local AED currency,” the regulator explained. Kraken Establishes Middle East […]