Category: Cryptocurrency News

Bitcoin price is struggling to maintain support at $60,000, having fallen more than 15% from the local record set earlier this month. But could the November rain storm that has resulted in a short-term bloodbath in crypto, be merely the final shakeout before the cycle peak is in? And could past cycles provide a preview of what this sort of scenario looks like? Let’s take a closer look. November Selloff Puts Four-Year Cycle Theory At Risk History is often said to repeat. Markets are also highly cyclical in their behavior. Within each cycle there are also matching harmonics that appear to rhyme without a ton of reason. That’s why price action often produces fractals that appear to match patterns from the past. The entire basis of technical analysis is the study of historical chart performance with the goal of predicting future outcomes. Related Reading | 10 Bullish Monthly Bitcoin Price Charts To Start November But a current example playing out in Bitcoin price could prove once and for all if there is real weight to the four-year cycle theory based on the cryptocurrency’s hard-coded halving event. Could November 2017 (left) be a preview of what’s to come in 2021 (right)?  | Source: BTCUSD on TradingView.com Will Bitcoin Price Follow The 2017 Finale Fractal? The chart above is a comparison between current day Bitcoin price action and the Relative Strength Index. If the leading crypto by market cap can hold here and rebound to new highs, a bullish divergence will confirm and continue the building parabola. What’s striking about this setup, is that there is only four days difference between when this same behavior appeared just four years ago. Both times after making new highs, Bitcoin saw a mid-November correction – but what comes next then? Does price action follow the same fractal with a dramatic December finale? Related Reading | Want To Learn Technical Analysis? Read The NewsBTC Trading Course Despite the recent downside, the monthly technical picture began bullish, and could still close as such. But the excitement over new all-time highs to start the month led to too much leverage in the market, which was just cleansed, rinsed, and repeated. Sentiment has also since swiftly switched, which could draw in enough short positions for a final squeeze higher – much like the abundance of longs led the market back to $60,000. The November selloff in 2017 reversed extremely quickly and only 30 days later saw a 250% price appreciation and the ultimate bull market peak. Is the chart above a chilling preview of what’s to come? 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

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As everyone knows, the native token of Crypto.com, CRO, pumped hard today after news of a partnership with AEG giving them the rights to rename the famous Staples Center of Los Angeles. This is a very good news for mainstream adoption : Crypto.com offers a slick UX, and it's a welcoming environement for every newcomer.…
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Authorities in China are continuing to crack down on activities linked to cryptocurrencies which they consider illegal. The country’s top economic planning body has clearly indicated it intends to go after large-scale cryptocurrency mining taking place at government-operated industrial facilities. State Firms Mining Crypto in China to Face Higher Electricity Bills China’s National Development and […]

Gelato Network, a decentralized network of bots to automate smart contract executions on public EVM compatible blockchains, today announced the launch of Gelato Ops —  a multi-chain smart contract automation hub that is now available on Ethereum, Polygon, Fantom, and Arbitrum. Highlights: Gelato Ops enables web3 developers to automate tasks via an easy-to-use interface Example…
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Cardano has flexed its muscles in the latest iteration of inflows coming into the market. Inflows have been steady the past couple of months, currently at 13 consecutive weeks of inflows for the market. Bitcoin and altcoins alike have benefited from the inflows which have indicated institutional interest piquing in the market. However, Cardano looks to have enjoyed the most benefits amongst the altcoins from last week’s inflows. Cardano Leading The Pack Cardano saw positive inflows for last week which put it ahead of other altcoins. Total inflows for the week had come out to $151 million and Cardano inflows totaled $16 million in the same time period. The total year-to-date inflows for the market have now hit a record $9billion. However, the record for the previous year had been broken three weeks back after hitting the $7 billion mark. Related Reading | What Went On In The Secret Meetings Between Cardano Developer IOHK And Zanzibar Officials? Cardano was not the only altcoin that saw positive inflows. According to the CoinShares report, Ethereum had also continued its hot streak of market inflows. Competitor Solana recorded inflows totaling $9.8 million. Likewise, Polkadot and XRP, which saw $5.2 million and $3.1 million of inflows respectively. ADA price struggles at $1.8 | Source: ADAUSD on TradingView.com Ethereum’s inflows saw the digital asset’s total asset under management break a new record. AuM in Ethereum had surged past $21 billion for the first time ever. The inflows suggest a positive outlook from institutional investors toward altcoins, especially smart contract platforms. These platforms led ahead of all other altcoins for the week. Bitcoin Maintaining The Lead Although the altcoins gained ground in last week’s inflows, bitcoin has continued to maintain the lead. Of the total $151 million of inflows recorded, bitcoin made up the majority with a total of $98 million flowing into the digital asset. This speaks to bitcoin’s place as a market leader and continues to cement its spot as the most valuable cryptocurrency in the market. Related Reading | Cardano Founder Addresses Price Speculations As ADA Struggles Cardano’s $16 million worth of inflows comes out to less than 20% of the total bitcoin inflows but is nonetheless a significant figure for the altcoin. Bitcoin’s inflows have been mostly contributed to by trading in the ETF funds that have been approved by the SEC. With the VanEck ETF kicking off trading on Tuesday, this number is expected to grow for the coming week. Bitcoin’s total year-to-date inflows now sit at a record $6.5 billion. Total assets under management for the digital currency are also at an all-time high with a total of $56 billion currently under management. Featured image from Capital.com, chart from TradingView.com

The worlds of gaming and NFTs continue to blend, but Microsoft’s gaming head is weary that NFTs are “more exploitative than about entertainment.”

The way I see it, retirement funds are a joke in most countries, increasing inflation paired with increasing costs of living(rent, food, transport etc.) will wreck our cozy idea of working 40 years and "enjoying the rest". Of course, the blockchain technology, smart contracts, decentralised finance etc. are fascinating and hopefully the future, but if…
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A short overview over the most important terminology in the crypto space: Altcoin Any coin that’s not Bitcoin. Altcoins can be anything from the second-most popular coin, Ethereum, to any of the thousands of coins with very minimal market value. Experts say you should largely stick to the bigger, more mainstream cryptocurrencies as an investment.…
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