The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, says that crypto assets and stablecoins are no match for well-designed central bank digital currencies (CBDCs). “If CBDCs are designed prudently, they can potentially offer more resilience, more safety, greater availability, and lower costs than private forms of digital money,” she said. IMF on […]
Bitcoin started a fresh decline from well above the $44,000 level against the US Dollar. BTC broke the $42,500 support and remains at a risk of more downsides. Bitcoin traded below an important support zone at $42,500. The price is trading below $42,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $42,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could decline further if it fails to recover above the $42,800 zone. Bitcoin Price Extends Decline Bitcoin price failed to clear the $45,500 resistance and started a major decline. BTC traded below the $43,200 and USD 42,500 support levels to move into a short-term bearish zone. There was also a close below the $42,50 level and the 100 hourly simple moving average. A low was formed near $41,573 and the price is now consolidating losses. An immediate resistance is near the $42,000 level. The first major resistance is near the $42,200 level. Besides, there is also a key bearish trend line forming with resistance near $42,200 on the hourly chart of the BTC/USD pair. The next key resistance could be $42,500 or the 23.6% Fib retracement level of the recent decline from the $45,900 high to $41,573 low. Source: BTCUSD on TradingView.com The main resistance seems to be forming near the $42,850 level or the 100 hourly simple moving average. A clear move above the 100 hourly simple moving average might send the price to $43,750. It is near the 50% Fib retracement level of the recent decline from the $45,900 high to $41,573 low. More Losses in BTC? If bitcoin fails to start a fresh increase above $42,850, it could continue to move down. An immediate support on the downside is near the $41,600 zone. The next major support is seen near the $41,200 level. If there is a downside break below the $41,200 support, the price could start a major decline towards the $40,000 level. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $41,600, followed by $41,200. Major Resistance Levels – $42,200, $42,850 and $43,000.
Lots of chatter going on about advertising and marketing at the moment, with quite a lot of disbelief about whether we'll see new users come on board. Let's remember where we are with respect to the technology adoption cycle. We are still in the "early adopters" stage, but things are ramping up massively – 70%…
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submitted by /u/niloony [link] [comments]
Coinbase is currently seeing an extreme amount of traffic on their website, not even commonly seen during the last Crypto dips. Their website is currently receiveing 14 times more traffic than on a good day, being flooded with new users. Even Cloudflare, the biggest content dilvery network worldwide (used by Discord and other technology giants),…
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submitted by /u/lifesabatch [link] [comments]
Switzerland’s largest bank, UBS, expects the United States Congress to take a long time to pass cryptocurrency legislation despite mounting interest in crypto investments and regulators calling for Congress to weigh in on crypto legislation. Congress Could Take a Long Time on Crypto Legislation The largest bank in Switzerland, UBS, published its view on U.S. […]
submitted by /u/ohyouwillseemeoften [link] [comments]
submitted by /u/coherentak [link] [comments]
I thought it was really unique, trackable, and relevant given how familiar everyone is with QR codes since Covid. I loved it. The QR code bounced around the screen like the old school screen savers and it actually hit perfectly in the corner!! The QR code takes you to a screen to sign up and…
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