Category: Cryptocurrency News

Bitcoin has entered the week with upside price action into the mid-levels of its current levels. However, bulls face hurdles as an increase in selling pressure set back BTC’s price from $66,000 to a current price of $64,262 at the time of writing. Bitcoin entered a consolidation zone after a flash crash pushed its price from the high of its current levels to the critical support at around $62,500. The bullish sentiment seems to be fading as uncertainty takes over the market. Related Reading | Bitcoin Eyes Fresh Rally, Why Close above $66k Is Important Many traders were expecting a more decisive price action from the benchmark cryptocurrency and a clearer path towards a short-term price target above $70,000 and ultimately $100,000. Macroeconomic variables seem to be playing against BTC’s price rally. The U.S. FED Chair Jerome Powell hinted at the beginning of tapering which could remove liquidity from global markets. In addition, the crisis with Chinese real-estate giant Evergrande continues to wreak havoc across the financial sector with many investors fleeing to the U.S. dollar. As seen below, the U.S. Dollar Index (DXY) has been trending to the upside since November 10th. At the same period, Bitcoin took its dive to the lower $60,000s bringing the entire crypto market with it. In the short term, there seems to be an inverse correlation between Bitcoin and the DXY. If the U.S. currency gains more strength, BTC’s price could revisit the critical support zone around $62,000. In that scenario, bulls could face further obstacles. Data from Material Indicators Indicates that Bitcoin has lost some support below $64,000. Related Reading | This Is Hilarious: Bitcoin Denier Steve Hanke Is Into Ethereum Now As the Fire Chart below shows, there were $21 million in bids (in red below Bitcoin’s price display in blue) for BTC before it was rejected at $66,000. At present, there are less than $15 million in bids with an additional $28 million but much lower at $61,500. This suggests that Bitcoin could continue to trend to the downside in the short term. Below $60,000 there was a massive bid wall that was removed at $54,000, but this could imply bullish continuation for Bitcoin or at least more support around $60,000, important support that zone that must be held in order to resume the rally. As Material Indicators claimed: (…) a massive ladder of BTC bids down to $54k has been pulled. It’s not a rugpull. They couldn’t get filled that low as the buy zone has moved up. Bitcoin In Crab Like Price Action, What Are The Price Targets? On higher timeframes, the Bitcoin Taproot upgrade failed to become a bullish catalyzer as operators were already pricing in the event. In the long term, the improvements made to the BTC network will certainly be a tailwind for the underlying’s asset price. According to Yuya Hasegawa, an analyst at BitBank, the price of BTC dropped due to the U.S. SEC rejection of its linked spot ETF filed by investment firm VanEck. Related Reading | Crypto Analyst Says Bitcoin Won’t Hit $100,000 This Year, When Will It Hit? The price experienced a relatively fast recovery as the stock market trend to the upside, but the analyst expects the price to remain rangebound between $58,000 to $69,000 with a potential for a new all-time high at around $76,000.

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Major U.S. cities embrace crypto as federal regulators remain much harder to bring around.

The lawmaker said that she wasn’t specifically targeting memecoin Floki Inu in the push for this crackdown, but rather as one of three current crypto advertising campaigns on London’s public transport.

With the countless financial opportunities offered in the cryptocurrency space, DeFi (Decentralized finance) has provided an escape from low-interest rates (from traditional investments) to many users. DeFi based applications (Dapps) have made it possible for users to trust an unbiased, decentralized network of computers running complex cryptographic proofs to process and confirm information. Smart contracts are by far the most exciting thing about DeFi. And, in this endless world of possibilities, there are many kinds of Dapps; one of them has been drawing a lot of attention – BNBMatrix.io. BNBMatrix welcomes you to take advantage of an innovative opportunity in the blockchain space while offering financial freedom to its investors. It is a Dapp is written on Binance Smart Chain that makes use of blockchain technology to provide financial services based on a smart contract. With a revolutionary investment of over 2000 BNB within 10 days of its launch, BNBMatrix Smart Contract is making its presence felt in the crypto space. The users are generating a daily ROI from 7.8% to 17% determined by the deposit period of 7 to 30 days. BNBMatrix is developed to ensure high functionality and ease of usage to the investors. Safety & Security: It is extremely important to ensure that the code is analyzed for malice and security by a trustworthy audit company. BNBMatrix claims to be protected from threats after being audited by HazeCrypto. No vulnerabilities, backdoors, or scam scripts were found in the Smart Contract. 24×7 Customer support: Committed to making their users’ journey seamless, safe, and easy, Team BNBMatrix assures round-the-clock availability on Telegram. Daily stable ROI: With a minimum investment of 0.01 BNB, the investors can receive reward percentages anywhere from 7.8% to 17%. BNBMatrix is achieving skyrocketing popularity amongst crypto investors and enthusiasts with such steady returns. How to make profits with BNBMatrix: Head to io, check out the interface and read through the FAQs. Choose the suitable Deposit Period for your investment. Enter the amount of BNB you would prefer to deposit. Lastly, click on ‘Invest’. Once you complete the investment, you’ll be offered a referral link. You can share it with your friends and have them join the Dapp. Every time a deposit is made by your friend, you shall receive a percentage. Rewards: BNBMatrix is helping the users generate a daily ROI from 7.8% to 17% based on the deposit period from 7 days to 30 days. The Dapp has been capturing a lot of attention over its ability to amplify returns. It is offering an opportunity to invest as low as 0.01 BNB to the users. Referral Program: Once an investment has been made, the users are offered a referral link. BNBMatrix implements 5 levels of a referral program that commissions 11.5%. The users can earn additional returns by sharing the referral link with their friends. BNBMatrix has been taking the crypto world by storm for all the correct reasons. Crypto investors and enthusiasts can become a part of this groundbreaking Dapp with an investment as low as 0.01 BNB. With such outstanding rewards, one can expect BNBMatrix to continue rising higher at a dizzying rate. To start multiplying your crypto assets, head to BNBMatrix.io or join their Telegram group

India’s parliamentary committee on finance has held a meeting with representatives from the crypto industry and other stakeholders on cryptocurrency and its oversight. “There was an understanding that cryptocurrency can’t be stopped but it must be regulated” and “There was a consensus that a regulatory mechanism should be put in place to regulate cryptocurrency.” First […]

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BitMEX, the popular cryptocurrency derivatives exchange, today announced a geographical expansion by opening up a new office in Vancouver, British Columbia. Initially, BitMEX reports that the office will operate with around 20 employees across a diverse range of functions, and intends to grow its headcount over time. “Establishing a presence in a vibrant city in…
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NEON, an independent game studio, today announced it has closed a seed funding round of $10.5 million to build Shrapnel, a blockchain-based AAA first-person shooter game. The oversubscribed round was led by Griffin Gaming Partners, Polychain Capital, and Forte (who will also provide technical support). Importantly, with blockchain and crypto, the game is designed to…
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