Category: Cryptocurrency News

Today, Bitcoin price sank below $40,000 for the first time since September – a price more than 50% lower than what the market was anticipating this time of year. While the downside has been impossible to ignore, the latest sweep of lows has resulted in a touch of a trend line dating back to the bear market bottom that could keep the bull market intact a bit longer. Technical Analysis And Framing The Importance Of Trend Lines When it comes to technical analysis in Bitcoin, trend lines always matter. When such lines hold, it is a sign to the market that it is time to reverse. When they give way, the resulting breakdown and panic is usually dramatic. For example, losing the horizontal support line of $6,000 in late 2018 immediately resulted in a plunge to $3,000. Once there, the bear market bottom was put in. Related Reading | 2022: The Year The Secular Bitcoin Bull Run Could End It was beginning at that initial bounce that restored hope in Bitcoin, that yet another trend line started. Rather than a trend line drawn across price peaks or troughs, this trend line is drawn across extreme oversold readings on the daily Relative Strength Index. A long-term RSI trend line could cause a bounce | Source: BTCUSD on TradingView.com Now Or Never: Bitcoin Bull Run RSI Trend Line Must Hold As Bitcoin price swept below $40,000 on BTCUSD daily charts, the Relative Strength Index tapped a long-term trend line. The line itself has withstood the bear market bottom, Black Thursday, and the 2021 selloff down to $28K. Does this latest move down have enough momentum to break through the support line? Or will it hold once again? The reading alone on the RSI suggests conditions are highly oversold – the fourth most extreme since the bear market bottom. Fourth time is the charm? | Source: BTCUSD on TradingView.com During the last bull market, there were four total touches of the daily RSI trend line. The fourth was the final touch before the peak of the bull market (green dotted line). Related Reading | Blast From The Past Bitcoin Fractal Could Suggest A Record Reversal Is Near The same trend line, once breached, is what led to Bitcoin falling sharply from $20K to under $6,000 in less than one month in early 2018 and kicked off the bear market (red dotted line). Bitcoin is once again at the trend line. Will the fourth tap prepare the market for liftoff, or will the line break down and a new bear phase begin? It could be now or never for Bitcoin bulls. Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

TP ICAP, a provider of market infrastructure, announced today a major milestone in its Digital Assets business with the first trades completed on crypto-asset equity instruments with Goldman Sachs. The company’s Digital Assets business traded the ETC Group Physical Bitcoin on an outright basis and against the CME Bitcoin Future in the form of an…
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WISE token and WISB are scamming investors of their money and lining their pockets under the pretense of "development" of over 2 million dollars so far. When in fact they've been turning it into BUSD, USDC, and various other cryptocurrencies. https://www.youtube.com/watch?v=VJVkgGHt33c&t=343s here is where the scam starts, he states where the coins will go and…
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“The Market Report” with Cointelegraph is live right now!

By all appearances, we are in for a busy year in crypto regulation and policymaking.

Bitcoin has been on a downward streak since the last quarter of 2021, and this has spilled into the new year. As January goes into full bloom, it has come with discouraging movements for investors as over $500 billion has been wiped off the market. This has sent bitcoin’s price down to the dreaded $40,000 price range. One question that remains in the mind of investors is, has the market seen the bitcoin bottom? Billionaire Mike Novogratz attempts to answer this as he puts forwards his thoughts on the issue and predicts the bitcoin bottom. Related Reading | TA: Bitcoin Key Indicators Suggest A Strengthening Case For More Downsides Bitcoin Should Bottom Out Between $38,000 to $40,000 Galaxy Digital CEO Mike Novogratz has always been an active voice in the crypto space and has at various times given his thoughts on the market. This time around, Novogratz sat down with CNBC’s Squawk Box, where he predicted where the bottom of the current bitcoin downtrend will be. The billionaire CEO placed the floor of the current downtrend at $38,000 which he does not see bitcoin going under. Currently, bitcoin’s lowest during the dips have been $40,680, from which the digital asset has since recovered. But if Novogratz’s predictions are anything to go by, then the market may see another dip before there is a full-blown recovery trend. BTC price tumbles down to $41,475 | Source: BTCUSD on TradingView.com The CEO gives his reason for this bottom as institutional investors taking advantage of the low prices to get into the digital asset. I” know big institutions who are going through their process to put positions on. They’re going to see those as attractive levels to buy,”  Novogratz said. “On the charts, $38,000, $40,000 feels like where we should bottom,” he added. Inflation Will Drive Growth Continuing on, Novogratz shares more regarding his stance on this predicted bitcoin bottom. One of those has been inflation. Those who have been following the markets know that rising inflation rates have led to increasing concerns among investors who have begun to look for alternatives to gold to serve as an inflation hedge. Bitcoin has naturally become the option for these investors. The Fed believes that inflation rates will begin to come down, but the CEO explained that if this does not go as planned, then “all bets are off.” Related Reading | Melania Trump Congratulates Bitcoin On 13th Anniversary Of Bitcoin Genesis Block Digital Galaxy, on which Novogratz heads as CEO, has made a name for itself in the space as being a big bitcoin proponent. The company currently holds over 12,000 bitcoins, making it one of the companies with the largest bitcoin holdings in the world. Mike Novogratz himself also has a personal stake in cryptocurrencies, revealing that he holds about 85% of his net worth in cryptocurrencies, which at the time translated to up to $4.8 billion held by the billionaire in crypto. Featured image from Stock Hax, chart from TradingView.com

Changpeng Zhao, a former McDonald’s employee and the CEO of Binance, the world’s largest cryptocurrency exchange, is the world’s richest crypto billionaire. His net worth comparable to that of top tech tycoons such as Elon Musk, Jeff Bezos, Bill Gates, Mark Zuckerberg, Larry Ellison, and others. Binance CEO Is Worth $96 Billion According to a recent report by Bloomberg, Binance CEO, Changpeng Zhao’s net worth is $96 billion. Zhao’s riches might be even bigger, given the wealth estimate excludes his personal crypto assets, which include Bitcoin and his company’s own token. Last year, the value of Binance Coin, commonly known as BNB, soared by almost 1,300 %. BNB/USD Surged over 1,300% last year. Source: TradingView Last year, the price of BNB surged at a faster rate than the price of Bitcoin, which increased by around 63%, and Ethereum, which rose by over 420%. BNB reached a high of $675 in May of last year before falling to $261 by the end of the month. Larry Ellison of Oracle was the 10th richest person on the list, with a net worth of $107 billion, followed by Gautam Adani of the Adani Group, who had a net worth of $78.6 billion. Binance was founded only four and a half years ago. When compared to other legacy enterprises created decades ago, it’s a young company. The Crypto Richest. Source: Bloomberg Forbes estimated Zhao’s net worth was projected to be $1.9 billion in August 2021. However, Hurun Global Rich List 2021 estimates Zhao’s fortune was $8 billion, up 208% over the previous year. FTX founder Sam Bankman-Fried was ranked 128th on the Bloomberg Billionaires Index with a net worth of $15.4 billion, and Coinbase CEO Brian Armstrong was ranked 279th with a $8.9 billion fortune. Related article | Binance’s CZ Wants Entrepreneurs To Create Coins. Does His Argument Make Sense? Binance: One Man, World Crypto Giant Though the company has been kicked out of its bithplace China, it is now being investigated by regulators around the world. The US Department of Justice and the Internal Revenue Service are looking into whether Binance Holdings Ltd., which Zhao owns, is being used as a conduit for money laundering and tax evasion. Binance is the largest cryptocurrency exchange in the world, with daily cryptocurrency trade volumes exceeding $100 billion on the majority of days in 2021. Binance is by far the largest crypto exchange in terms of both spot and futures markets. CZ’s continued attempts to get operational licenses in various jurisdictions across the world is indicative of the firm’s success. Despite regulatory challenges, Binance continues to collaborate and acquire new companies in order to remain a leader in the crypto trading sector. Binance generated $20 billion in revenue in 2021, which is more than three times the $5 billion generated by Coinbase. Binance has multiple whale accounts that buy Bitcoin on a regular basis, in addition to CZ’s personal crypto holdings. According to Bloomberg, Binance appears to be looking for a new home in the UAE and Singapore. The Binance CEO has been visiting royalty and hosting meals near the Burj Khalifa in Abu Dhabi. According to Bloomberg, the UAE royal family is eager to attract Binance to Abu Dhabi as it develops its own crypto zone. The crypto exchange just completed the acquisition of Swipe, a popular crypto Visa card provider with over 70 million locations worldwide. Related article | Binance ’s Road To Compliance Continues With A List Of Rights For Crypto Users Featured Image: Shutter shock | Charts by Bloomberg, and TradingView

As much as I'd love all these signals to be FUD, the truth is, it's not. Even the Crypto market dipping for the two months is largely due to the stock market trending down along with energy prices all over the world. People can say what they want, but the FED has printed way too…
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A recently discovered patent shows the American multinational entertainment and media conglomerate, Walt Disney Company, was approved by the United States Patent and Trademark Office (USPTO) for a “virtual-world simulator” patent. The simulator is composed of a “three-dimensional (3D) map of the geometry of the real-world venue.” Disney’s Virtual-World Simulator Patent Follows Bob Chapek’s Discussion […]