Category: Cryptocurrency News

ANY, KP3R and WEMIX lead Jan. 12’s altcoin charge after BTC price broke out of range higher with a surge to $44,000.

A recent letter published to the Bitcoin developers mailing list written by Square founder Jack Dorsey indicates that a legal defense fund has been created for open source developers in order to protect them “from lawsuits regarding their activities in the Bitcoin ecosystem.” Dorsey’s letter is also signed by Alex Morcos of Chaincode Labs and […]

All across crypto, fear is in the air. Not only is the market shaken from the recent downtrend, but there’s an extra layer of doom and gloom due to an impending “death cross” in Bitcoin. Learn all about the ominous sounding crossover of two commonly watched moving averages, what the signal could mean, and how Bitcoin price has reacted in the past. The “death cross” is nigh | Source: BTCUSD on TradingView.com Does The Bitcoin Death Cross Mean Doom And Gloom For Crypto? Bitcoin price on daily BTCUSD charts is only days away from completing a “death cross.” According to Investopedia, “a death cross is a technical chart pattern indicating the potential for a major sell-off.” It occurs when a short-term moving average (in this case the 50-day MA) crosses below a long-term moving average (the 200-day MA). The signal tells investors that the asset’s growth has slowed and is showing potential of a bear trend. Long-term price depreciation is possible. However, in Bitcoin, things don’t always behave the way they should. Related Reading | 2022: The Year The Secular Bitcoin Bull Run Could End Across eight total death crosses in the first ever cryptocurrency, the average drop within a month from the cross is a mere 25% (h/t Dan via TonyTradesBTC) – puny by crypto standards. The opposite signal, golden crosses, also don’t always have a positive impact, either. In fact, Bitcoin price is lower now today than it was when the last golden cross triggered. The history of death and golden crosses in emoji | Source: BTCUSD on TradingView.com Data Shows Whether Or Not You Should Fear The Reaper Such crossovers, are often used to confuse the market during consolidation phases. Ahead of the 2020 bull breakout, there were two death crosses and two golden crosses. One notable death cross in October 2019 resulted in a 42% pump the day prior signal. Despite the strength, price action was rejected back down to new lows, only to golden cross, death cross, then golden cross again. Ahead of the fabled 2016-2017 bull run, there was also a similar fakeout – depicted in the green box. Related Reading | The Hidden Bitcoin Trend Line That Could Save The Bull Run Prior to the 2014-2015 bear market, however, there was a death cross, golden cross, back into a death cross fakeout that closely mimics the situation brewing in Bitcoin right now in the red box. Another such example could result in a renewed bear phase. But the data otherwise shows that the “death cross” is not a reaper you need to fear. How will #Bitcoin . React to the “death cross”☠️❓ — NEWSBTC (@newsbtc) January 12, 2022 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

I’m 17 with 10k in the bank, and no investments. I know crypto is in a dip right now. Would it be smart for me to buy a ETH at 3.35ksh or is it really risky? Please give me your honest thoughts because it’s not like I have a good paying job hahahah. Teen worker…
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GMO Internet Group, a Japan-based internet service provider. announced it will partner with Klaytn Foundation to explore blockchain business on Klaytn, a blockchain initiative by the Kakao Group. This latest move is a continuation of the conglomerate’s expansion in internet infrastructure, financial services, e-commerce, payments, and cryptocurrency business segments. It currently operates an online FX…
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Bitcoin has seen some relief in the past couple of days with a 4.5% profit in 24-hours. The first crypto by market cap trades at $42,947, after climbing back from the lows at around $39,000. Related Reading | TA: Bitcoin Bounces To $42K, Why BTC Could Recover To $43.5K The recent bullish price action comes at the heels of the most recent Consumer Price Index (CPI) report published in the U.S.; the metric has become one of the top issues for investors around the world. Used to measure inflation in U.S. dollars, the CPI printed a 7% for December 2021. The metric recorded a percentage below investors’ expectations and was mostly one of the reasons Bitcoin saw a quick recovery. However, it stood at a 40 year high suggesting the issue will remain a priority for financial institutions across 2022. As seen below, individual inflation data paints a different picture with many sectors reaching double digits for their year-over-year periods. This includes medical care with 37.3%, transportation with 21%, and energy with 29.3%. The whole inflation misery in one chart! US inflation of 7% is highest since 1980s. Monthly price increases come in higher than expected. Used cars, food, clothing drive price gains. (Chart via @MOstwald1) pic.twitter.com/mJOCun6UOK — Holger Zschaepitz (@Schuldensuehner) January 12, 2022 Inflation has caused the U.S. Federal Reserve and its Chairman Jerome Powell to hint at tapering and an increase in interest rates. At the moment, inflation fears have been reduced, but could soon return to justify a shift in the financial institution’s monetary policy. According to Yuya Hasegawa, analyst for bitbank: (…) if the CPI and PPI turn out to be higher than the market expects, they could rekindle inflation fear and, in turn, also justify the first-rate hike as early as this March. According to the CME’s FedWatch, almost 70% of the market participants are expecting the March rate hike, so bitcoin may be able to defend $40k in case of another sell-off, but it certainly is not the time for optimism in the short run. Bitcoin, More Blood In The Short Term? Therefore, the analyst believes $44,000 to $48,000 to operate as short-term important resistance levels. A break above the latter could push Bitcoin to the high of its current range, near $50,000, otherwise, the crypto could re-visit the lows, as it has been moving over the past weeks. Data from Material Indicators indicates very little support for Bitcoin below its current levels. Over $12 million in bid orders are stacked in the $39,000 to $40,000, with around the same amount in ask orders around the $44,000 to $45,000 area. This goes to show the uncertainty in the market, but with Bitcoin still holding on to some bullish price action. If the inflation metrics in the U.S. continue to trend to the downside or below investors’ expectations, the first crypto could resume its upside trend with more strength in the coming months. Related Reading | President Bukele Predicts BTC At $100k With Hope That More Countries Adopt It As Legal Tender Jan Wüstenfeld, analyst for CryptoQuant, wrote the following on the CPI and its potential impact on BTC’s price in the long term: (…) if it (inflation) continues coming down in the next months this would be the perfect excuse for the FED to reverse its hawkish stance, which would be bullish for Bitcoin.

I Launched my new NFT crowdfund, $Tiger, we are looking to dive into to a new world of crowdfunding for indie filmmakers. We are using Mirror DAO and its crowdfunding platform to prove that the tech of Smart contracts and NFTs have a place in funding new art from exciting new artists. Please enjoy the…
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