Category: Cryptocurrency News

Data from Glassnode reveals a crossover in the Bitcoin NVT price model has recently taken place, something that has historically been bullish for the crypto’s price. Bitcoin NVT Price 28-Day Curve Has Crossed Above The 90-Day As per the latest weekly report from Glassnode, the BTC NVT price model has observed a bullish formation recently. NVT stands for “Network Value to Transaction.” The NVT ratio is an indicator that measures the ratio between the Bitcoin market cap and the network transaction volume. Generally, high values of the ratio suggest that the crypto is overvalued right now. While low ones may imply the coin is undervalued. The “NVT price model” takes the two-year median of this metric and multiplies it by the current transaction volume. “The resulting model thus establishes an implied valuation based on the current utilisation levels of Bitcoin for value settlement,” explains the report. Related Reading | Bitcoin Bearish Signal: 600-Day MA Starts To Break Down Now, here is a chart that shows the trend in the 28-day and 90-day period versions of the NVT price model: Looks like positive transaction momentum is building up in the crypto | Source: Glassnode’s The Week Onchain – Week 17, 2022 As you can see in the above graph, both the NVT price models seem to value Bitcoin at between $32.5k (90-day) and $36.1k (28-day). The two metrics also look to be bottoming out at the moment, and potentially showing a reversal. Just recently, the faster 28-day curve has crossed over the slower 90-day version. Such a formation has historically been bullish for the coin’s price. Related Reading | Specialists Expect Bitcoin Back To $65K By End Of Year, Survey Finds On the other hand, whenever the 90-day NVT price model has moved over the 28-day line , a bearish flag has gone off instead. The report notes that while the current crossover can be bullish for the price of Bitcoin, the signal does require the confirmation of time to show that positive momentum is in play. BTC Price At the time of writing, Bitcoin’s price floats around $40.5k, down 1% in the last seven days. Over the past month, the crypto has lost 9% in value. The below chart shows the trend in the price of the coin over the last five days. The price of BTC seems to have surged up over the past twenty-four hours | Source: BTCUSD on TradingView After plunging below the $39k level yesterday, Bitcoin has once more rebounded back above the $40k mark today. It’s unclear currently whether this new positive momentum will last or if it will die out just like the last few attempts. However, if the NVT price model is anything to go by, in due time the crypto may observe some real movement up again. Featured image from Unsplash.com, charts from TradingView.com, Glassnode.com

Uncertainty over regulation remains a key barrier to crypto investing according to Bitstamp.

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

Security is built into blockchains, but not into contracts. I see a lot of projects hiring devs, PMs, etc. but not many hiring Security Engineers. That being the case, I've seen a lot of Blockchain security groups popping up to offer consulting services. Is there also a market for a solo Security Engineer to offer…
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submitted by /u/Mk_Makanaki [link] [comments]

You remember saint Elon? AKA The Dogefather? The man who loves to creat hype around his beloved Doge and just when everyone is jumping the bandwagon, drop the hammer on the same coin. Like in the middle of SNL? Yes. That Elon. Same man who promised you can buy Tesla with Doge but always had…
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Per a survey published by Bitstamp, the crypto space is on track to become a mainstream industry. The platform conducted a survey with over 28,000 participants, 5,400 senior institutional decision-makers, and 23 retail investors, across 23 global markets to try and take a pulse on the sector. Related Reading | Dogecoin (DOGE) Jumps 30% After Elon Musk Buys Twitter Since its inception, digital assets have grown into a $2 trillion industry at its all-time high. Once an interesting way for tech-savvy individuals to send money across the world, the participants of Bitstamp’s survey claim that they used crypto to buy groceries, donate, shop online, and other day-to-day items. A majority of retail responders believe the industry is in its early stages. Therefore, they expect the next 5 years to be crucial for this industry’s growth. 75% think digital assets will reach mainstream adoption within 10 years. As an additional sign of its potential to increase its adoption levels, institutional participants have been recommending it to its clients, the survey claims. As seen below, 68% of the institutional responders have been “actively recommending crypto” to their clients, with a 6% minority taking the opposite stand. Similar to retail responders, 82% of institutions believe crypto will be mainstream in the coming decade. These investors class, the survey discovered, are very active in the space with 62% trading digital assets over 2 times per week and 54% claiming to have over 30% of their portfolio in cryptocurrencies. CEO at Bitstamp, Julian Sawyer said: The adoption of crypto and other digital assets is advancing at an unprecedented rate. In the last few years, cryptocurrencies have moved from the outskirts of the financial ecosystem to find themselves front and center of mainstream investing, with many of the largest trading venues in the world now catering to both retail and institutional crypto needs (…). The Countries That Could Adopt Crypto Faster Over the next years, as digital assets gain popularity, emerging economies could be critical in boosting their expansion. At the moment, the emerging world leads in terms of trust with institutions in Nigeria, Brazil, Colombia, Argentina, South Africa, and others surpassing first-world countries. Retail investors in the developing world are keener to trust digital assets. As seen below, these countries record over 75% in trust in contrast to the 50% or 60% in first world countries, such as the U.S., Spain, and the United Kingdom. Regulations continue to be a key subject for both retail and institutional investors. 47% of retail and 55% of institutions believe the industry lacks a regulatory framework. Thus, the industry’s future adoption seems highly tied to investors pressing their governments to provide more clarity on this item. Related Reading | Bitcoin 401k? Fidelity Investments Says Yes  In short timeframes, the crypto markets stand at critical support levels as Bitcoin and larger cryptocurrencies trend to the downside. At the time of writing, BTC’s price trades at $38,500 with a 3% loss in the last 24 hours. The bulls need to display strength to prevent further losses.

On Tuesday, the bitcoin mining and energy technology firm Cleanspark announced that it has secured $35 million in non-dilutive financing from Trinity Capital. According to the company, Cleanspark aims to leverage the funds for growth capital expenditures. Cleanspark to Bolster Growth Expenditures With $35 Million in Financing From Trinity Capital Cleanspark has revealed it has […]