Category: Cryptocurrency News

So I was checking out to see if any whales have been adding BTC to their wallets and stumbled upon this one.. this person bought almost 80,000 BTC @ $.93 in 2011, and has not moved them or had any other activity since. It honestly makes me wonder if this person is still alive. Perhaps…
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The latest proposal from a group of House Democrats seeks to change how updates to the tax code affect crypto entities “who do not engage in brokerage services.”

Bitcoin price started an upside correction above $60,000 against the US Dollar. BTC could recover further, but the bears might remain active near $62,500. Bitcoin is still trading well below the $62,000 and $62,500 resistance levels. The price is now trading below $62,000 and the 100 hourly simple moving average. There is a major bearish trend line with resistance near $60,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could recover towards $62,500, where the bears might take a stand. Bitcoin Price Turns Red Bitcoin price extended decline below the $62,000 support zone. BTC even traded below the $60,000 support level and settled below the 100 hourly simple moving average. Finally, the price traded as low as $58,630 and is now consolidating losses. There was a minor recovery wave above the $59,500 and $60,000 levels. There was a break above the 23.6% Fib retracement level of the main drop from the $66,350 swing high to $58,630 low. On the upside, an immediate resistance is near the $60,700 level. There is also a major bearish trend line with resistance near $60,700 on the hourly chart of the BTC/USD pair. A proper close above the $60,700 level could set the tone for a larger increase. The first major resistance is near the $62,500 level. It is close to the 50% Fib retracement level of the main drop from the $66,350 swing high to $58,630 low. Source: BTCUSD on TradingView.com If the bulls push the price towards $62,500, the bears are likely to take a stand. Any more gains could open the doors for a move towards the $63,200 level. More Losses in BTC? If bitcoin fails to recover above the $61,200 resistance zone, it could extend decline. An immediate support on the downside is near the $59,500 level. The first major support is now forming near the $59,200 level. The next major support is near the $58,500 level, below which the bears might aim a more downsides. In the stated case, the price may perhaps slide towards the $55,000 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now just above the 50 level. Major Support Levels – $59,200, followed by $58,500. Major Resistance Levels – $60,700, $61,200 and $62,500.

Fidelity has secured Canada’s selection from regulators to become the country’s first-ever bitcoin custodian. The move will allow the financial services firm to operate bitcoin custody and trading in the country, geared towards institutional investors. Additionally, the move will likely open the door for more Canadian institutions to invest in crypto. First-Mover Fidelity Fidelity Clearing Canada (FCC) unveiled a press release on Wednesday showcasing the announcement. The release quickly notes that FCC is “Canada’s first Investment Industry Regulatory Organization of Canada (IIROC) regulated entity to offer this digital currency trading and custody solution dedicated for institutional investors, including mutual funds and exchange-traded funds.” FCC President Scott Mackenzie stated in the release that “the demand for investing in digital assets is growing considerably and institutional investors have been looking for a regulated dealer platform to access this asset class.” This announcement opens that door for investors. To date, Canadian investors had to resort to mutual funds and ETFs for crypto exposure. Additionally, bitcoin funds available in Canada thus far have been offered from U.S.-based custodians. FCC holds north of $200B in AUM (assets under management). The firm also provides services to over 100 investment companies in Canada. Reports state that based on the U.S. precedent, Fidelity expects a four-year runway to set up services in the cryptocurrency market. The full scale and scope of how those services are rolled out is yet to be disclosed. Bitcoin’s exceptional performance has resulted in increased global demand for crypto support amongst institutional investment firms. | Source: BTC-USD on TradingView.com Related Reading | Preview Of The Peak: November Rains Red For Bitcoin Holders Fidelity’s Perspective The financial services firm is seemingly bullish on crypto in the big picture. At the very least, the firm recognizes the staying power and understands that it needs to carve out it’s role in crypto. Last month, a Fidelity analyst showed cautious optimism in bitcoin’s “diamond hand” owners. Despite this, the analyst also believed that bitcoin was a ways away from the psychological benchmark of $100,000. To date, the analysts expectations have seemingly been about on par. The firm first launched U.S.-based crypto services in 2018. By May of this year, Fidelity opened it’s first bitcoin fund in the U.S., raising over $100M from around 80 accredited investors. Fidelity in recent months also released their annual Fidelity Digital report. That report had a lot of interesting finds, including that nine of ten surveyed investors found digital assets appealing. With just the past few months of activity alone, it’s clear that Fidelity understands the importance of what’s at stake – and today’s announcement in Canada will position them quite well in the country to take advantage of that knowledge. Related Reading | Lone Bitcoin Bitfinex Whale Wants More Blood, Buyers Beware? Featured image from Pexels, Charts from TradingView.com

Mohamed El-Erian, chief economic advisor at financial services company Allianz, says that bitcoin is not going to be a global currency and will not replace the U.S. dollar. However, he believes the cryptocurrency will always exist in the ecosystem and will not be regulated out of existence. Bitcoin Won’t Become Global Currency Rivalling US Dollar, […]

I’ve been in since early 2017 and don’t plan on ever leaving. I’m ok just HODLing but I do feel as if I’m missing out on some returns. I’m far to busy in my day job to do anything hands on. What are the top (safe) ways to earn interest right now? Staking with Coinbase…
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Meta says the VR gloves rely on haptic rendering to send “precise instructions to the actuators on the hand,” and outlined a vision where people’s sensations match what they are doing in the Metaverse.

I’m trying to convert my USDT to SAND in my Coinbase wallet. Says there is a fee of .12 ETH. I’m only converting $200 of USDT to SAND so I’m obviously not going to pay this much in fees. Is the network congested right now? Will fees be outrageous even when the network is less…
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