Category: Cryptocurrency News

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DEIP, a Web3 domain-specific protocol that enables the discovery, evaluation, licensing, and exchange of intangible assets such as intellectual property, announced today it is partnering with Human Guild, a Web3 project that aims to obliterate the barriers that prevent people from creating what they love. Human Guild was first involved in building the NEAR ecosystem…
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Elon Musk’s electric car company, Tesla, has filed an annual report with the U.S. Securities and Exchange Commission (SEC) showing bitcoin holdings with a fair value of almost $2 billion at the end of December. The company sees crypto as both an investment and liquid alternative to cash. Tesla Has $2 Billion in Bitcoin Tesla […]

Bitcoin has recently recovered above $40,000 to much fanfare from investors. This has been a long time coming given how low the digital asset had gotten following the market crash. It is a significant point to cross in the road to another bull rally. One thing though, is that the cryptocurrency still has a long way before it is back in bull territory, which market analyst Justin Bennett puts at the $45,000-$46,000 level. As the market tries to work its way towards this bull trend, there are also signals that suggest that a bull rally is not the only likelihood in the near future of the digital asset. In fact, bitcoin recently tripped a trigger that suggests that the market is likely to fall into another crash before bulls can take proper hold of the values. Bitcoin Falls Below 50-Day Moving Average Indicators like the moving average and simple moving average can often point investors and traders towards the next steps in the market. For the longest time, bitcoin continued to trade above its 50-day moving average, suggesting a continuation of the bull rally, which has mostly been the case. This time, however, the digital asset has not been able to hold above this important metric. Related Reading | Dave Portnoy Is Now A Bitcoiner, Thinks You’re An Idiot If You Don’t Hold Any For the first time in over a year, bitcoin has traded below its 50-day moving average. Now, this may not seem like a big enough deal to pay attention to given that the cryptocurrency just started to mark another bullish recovery trend. However, it becomes more pertinent data to look at when we take a look at what has happened historically when this happens. BTC falls below 50-day moving average | Source: TradingView.com Bitcoin has only traded below its 50-day moving average three times previously. Each time that this has happened, the outcome has always been the same; there is a crash. It followed this in 2014, 2018, and 2019. Once again, bitcoin has failed to trade above the 50-day moving average, and if history is any indicator, then BTC could very well be headed towards a price crash. Where Are The Points To Sell? For bitcoin and other cryptocurrencies, there is never a ‘perfect’ point to sell given that it is near impossible to predict where the market will swing. However, placing buys and sells between indicators can help one come close. Related Reading | Bitcoin Hits Two-week High Imitating The Stock Rally This trader expects the digital asset to see further downside before the bulls take over. This means that investors who do not wish to hold for the long term must decide the best points to offload their bags before bitcoin continues to decline. BTC selloff coming with breakout sellers | Source: TradingView.com The current head and shoulders pattern will see breakout sellers target the current bullish trend, making it short-lived. The time between when these sellers emerge and when the current bull run ends will be the sweet spot. From there, the imminent crash will see bears take over the market, and fast, too. BTC trading north of $42K | Source: BTCUSD on TradingView.com Featured image from Bitcoin News, charts from TradingView.com

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I am looking to use ETH as a payment for my shop, but I don't know if it's smart when using low amounts of cash considering the gas fees. How much do I need to pay in gas fees when sending for example 5 bucks? submitted by /u/Kevin00812 [link] [comments]

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Bitcoin is back on the green side across the board with important gains on lower timeframes. The benchmark crypto managed to push away from the high area around $30,000, taking off deep into the $40,000 territory. Related Reading | Is The Bitcoin Bottom In? Here’s What SOPR Data Says As of press time, Bitcoin trades at $44,351 with a 6.4% profit in the last 24-hours. During today’s trading session, BTC’s price seems to be positively reacting to several bullish news, including the announcement made by accounting giant KPMG. The Canadian-based company added Bitcoin and Ethereum to its balance sheet boosting the case for crypto adoption. Of all the institutions and high profile investors to go public on owning BTC in recent years, KPMG's announcement today is right at the top in terms of importance and credibility. Hard to overstate this one. — MacroScope (@MacroScope17) February 7, 2022 On-chain analyst Jan Wüstenfeld showed the potential impact from the BTC purchase announcement. As seen below on the daily chart, BTC’s price rose from $4,3700 and almost broke through the major resistance point at $45,000. In addition, the U.S. Securities and Exchange Commission has green-lighted investment firm Valkyrie’s Exchange Traded Fund (ETF) based on publicly traded Bitcoin mining companies. The investment product will start trading tomorrow, February 8th, and will allow for more institutional investors to gain indirect exposure to the underlying asset, BTC. In that sense, on-chain analyst Will Clemente recorded an increase in whale accumulation over last week, when Bitcoin started to recover from a sustained downward trend which started on Q4, 2021. The analyst believes that BTC’s price recent move to the upside could extend due to its strength making institutional investors attempt to capture some of the momenta: Just as the move down gave no dead cat bounces or clean retests, this up move so far has given shallow dips and no clean retests, leaving sidelined capital sweating and potentially having to chase. Bitcoin Strengthens Bullish Fundamentals, $45K Holds The Key In the short term, and as NewsBTC reported last week, Bitcoin seemed poised for a short squeeze. Investment firm QCP Capital supported a bullish case for BTC’s price due to a brief pause in the macro-economic factor operating as a headwind for the cryptocurrency. On the top of the list, the U.S. Federal Reserve, set to increase its interest rates, will go into a period of hibernation at least until mid-March. Still, two days from now, the institution will release January 2022 Consumer Price Index (CPI) metrics. If the numbers are higher than expected the U.S. financial institutions could be incentivized to speed up their shift in monetary policy. In the past months, Bitcoin has reacted with volatility to the monthly CPI print. In addition, QCP Capital has recorded some “real-buying” for BTC as the rally continues beyond last week’s options expiry. This suggests “sizable demand” operating in the market. The firm added: Crypto prices rallied even though NASDAQ traded lower towards the end of last week. We don’t think this means that crypto has necessarily decoupled from NASDAQ but this tells us there is tangible and targeted crypto demand right now. Related Reading | What Exactly Can You Do With NFTs? How To Buy, Where to Store, and Common Uses BTC futures are also showing signs of bullishness as funding rates for perpetual swaps have been trending into negative territory. As more traders open short positions, the likelihood of an extended short squeeze rise, QCP Capital said. 9/ The market is still very long gamma (short-tenor options) from the DOV strikes (BTC: 41,000-43000, ETH: 3,200). This would naturally cause some resistance up to around 45,000 in BTC and 3,400 in ETH (because market makers would be selling spot against the calls). — QCP Capital (@QCPCapital) February 7, 2022

Twitter deleted the tweets in question and suspended Brantly Millegan’s account, preventing him from responding to critics and supporters on the social media platform.