Category: Cryptocurrency News

Hey all! I’m not sure the best way to find what I’m looking for, so I guess here’s a start. I’m a 26 y/o electrical engineer & applied math student who has been in crypto for a while but new to the NFT space. I’ve been thinking a lot about the future and things that…
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Bitcoin price started a downside correction from well above $64,000 against the US Dollar. BTC could extend its decline below the $60,000 support in the near term. Bitcoin failed to stay above $62,000 and extended its decline. The price is now trading below $62,000 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $62,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend decline below the $60,500 and $60,000 support levels. Bitcoin Price Remains At Risk Bitcoin price tried to clear the $64,000 resistance level. However, BTC failed to gain strength and started a fresh decline. The bears gained strength and were able to push the price below the $62,500 support zone. The price even settled below the $62,000 level and the 100 hourly simple moving average. A low is formed near $59,824 and the price is now struggling to stay in a positive zone. It is testing the 23.6% Fib retracement level of the recent decline from the $63,700 swing high to $59,824 low. It is currently facing resistance near the $60,800 and $61,000 levels. The first major resistance is near the $61,750 level and the 100 hourly SMA. The 50% Fib retracement level of the recent decline from the $63,700 swing high to $59,824 low is also near $61,800. Source: BTCUSD on TradingView.com The main breakout resistance is now forming near the $62,000 level. There is also a crucial bearish trend line forming with resistance near $62,300 on the hourly chart of the BTC/USD pair. A clear break above the trend line resistance and then $62,500 may possibly call open the doors for a move towards the $63,200 level. The next major resistance sits near the $64,000 level. More Losses In BTC? If bitcoin fails to clear the $62,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $60,000 level. The first major support is now forming near the $59,500 level. A break below the $59,500 support may possibly push the price towards the $58,000 support zone in the near term. Technical indicators: Hourly MACD – The MACD is slowly gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $60,000, followed by $59,500. Major Resistance Levels – $61,200, $62,000 and $62,300.

Investing in cryptocurrency has undoubtedly been incredibly volatile, as many of you are aware. During May, everyone thought we were on the verge of a Crypto winter, and the sentiment was pessimistic across the board. However, I feel that many of us in the community remained strong and were able to maintain a dollar cost…
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ETF issuers are getting creative with two new filings for inverse and leveraged funds.

Recent reports show that Bitcoin mining uses great amounts of renewable energy due to economic incentives. This turn of events raised their numbers of sustainable power mix to almost three times higher than the world average. As renewable energy offers low costs, bitcoin miners, who had to spend 68.42% of their total income to purchase electricity, have upscaled their efficient use of green energy. A recent data review shows how their mix of sustainable energy is higher than any country or industry. Renewable energy is not flexible and their locations do not tend to be convenient for most people. As bitcoin miners move close to sources of energy to lower the costs, they are a viable solution to not waste the sustainable energy that otherwise would be deployed, as explained by CoinShares. According to a survey carried by the Bitcoin Mining Council (BMC), the electricity mix used by bitcoin miners increased 3% from second-quarter to an approximate of 57.7% sustainable in third-quarter 2021 “making it one of the most sustainable industries globally.” MicroStrategy’s CEO Michael Saylor had stated earlier that the Bitcoin Mining Council’s effort to bring clarity and transparency over Bitcoin mining will most likely “play an important role in demystifying” the industry. Furthermore, a whitepaper by the Bitcoin Clean Energy Initiative from earlier this year had explained how bitcoin mining, when using renewable energy, “is especially suited to accelerate the energy transition” towards a cleaner electricity grid: With bitcoin mining integrated into a solar system, (…) energy providers – whether utilities or independent entities – would have the ability to play the arbitrage between electricity prices and bitcoin prices, as well as potentially sell the “surplus” solar and supply almost all grid power demands without lowering profitability. China’s Ban Impact On Bitcoin Mining Digiconomist data shows that China’s ban of all Bitcoin mining activities dropped the total amount of “active computational power in the network” by 50%. The reduction of mining competition also generated higher levels of income for active miners worldwide. Torbjørn Bull Jenssen CEO of Arcane commented earlier: As China is turning away from bitcoin mining, the mining industry as a whole is becoming increasingly green and a driver for renewable energy around the world. Now is excellent timing for Arcane to enter into this segment, (…) Mining is a very interesting business stand alone, and it also has considerable synergies towards our other investments and business. I am looking forward to finalizing the strategy for Arcane Green Data and presenting it in more detail for our partners and investors. Related Reading | Is China Considering Lifting The Bitcoin Mining Ban? The NDRC Runs Public Survey In a wider panorama of energy usage by Bitcoin miners, Square funds a solar-powered facility for bitcoin mining, El Salvador explores the viability of using volcanic renewable power for mining bitcoin, and other countries propose economic incentives for bitcoin miners who use renewable energy. Related Reading |Jack Dorsey: Square Could Build Bitcoin Mining System CoinShare stated in June’s report that bitcoin’s network is “more renewables-driven than almost every other large-scale industry in the world.”

Will mostly like get absolutely wrecked now. But I like using this sub as counter-indicator. When some meme coin is getting absolutely shit on in here, it usually continues going up. When people in here finally capitulate and buy it, the top is in. Same thing happened with Dogecoin back in April. When it hit…
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FTX exchange will advertise for the first time during the Super Bowl LVI to reach mainstream football fans.

Elon Musk’s electric car company, Tesla, has informed the U.S. Securities and Exchange Commission (SEC) in a quarterly filing that it may restart the practice of transacting in cryptocurrencies for its products and services. Tesla suspended accepting bitcoin in May, citing environmental concerns. Tesla May Resume Accepting Bitcoin, SEC Filing Shows Tesla Inc. filed a […]

I've always wanted this kind of news to pop! Banks are looking into adding Crypto currency to their Balance Sheets I.E The Federal Reserve, PBOC, Bank of England, ECB and all major banks. AMA God u/Brucefenton When will Morgan Stanley add RavenCoin to their balance sheet? ​ https://www.reuters.com/business/finance/us-regulators-exploring-how-banks-could-hold-crypto-assets-fdic-chairman-2021-10-26/?utm_source=reddit.com ​ BOOOOLISH!!!!! submitted by /u/Cultural_Traffic_321…
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