Category: Cryptocurrency News

The National average APY on savings is 0.04%, which is less than a 10 year T-bill. Right so somehow lending money to the bank is less risky (returns) than the US government whom is technically considered “risk free.” Obviously there are nuances to all of this but regulating bodies like the SEC are actively putting…
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Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating. Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could…
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Miami Mayor Francis Suarez says that cryptocurrency is a “major priority” for him as he attempts to build his city into the crypto capital of the world. “I want us to differentiate ourselves as a crypto capital of the United States or of the world,” he said. ‘Major Priority’ — Miami Aims to Become Crypto […]

The bulls are back in control after a brief drop in the price of Bitcoin. The first cryptocurrency by market cap trades north of $57,000 with a 2.5% and 11.1% profit in the daily and weekly charts, respectively. The general sentiment in the markets it’s bullish, as operators and traders expect Bitcoin to fulfill its historical performance. BTC’s price usually tends to trend to the upside as the year comes to an end. Related Reading | Bitcoin Price Prepares To Blast Off Back Into RSI “Bull Zone” Bitcoin is trading less than $10,000 away from its all-time high at $64,870 and it could run into uncharted territory if, as the Director of Macro for Fidelity Jurrien Timmer said in an interview with CNBC, short-term holders FOMO into BTC. These investors are those that have only held BTC for the past 3 months. As seen in the chart below, only 15% of the BTC total supply is currently held by “momentum chasers”. In order for Bitcoin to reach new highs, this metric must stand above 20%. In that sense, Timmer believes Bitcoin’s current run to the upside lack “excessiveness” which could suggest some stability and sustainability for the current price action. Unlike previous rallies, this time Bitcoin seems to be moving outside the influence of “speculators”, as Timmer called them. However, some traders could find Timmer’s prediction disappointing as he believes the benchmark crypto is far from the major psychological mark of $100,000. Related Reading | Bitcoin Short-Term Supply Reaches All-Time Low When the expert checked the Bitcoin/Gold ratio to analyzed BTC’s supply to demand model, he found the following: So is bitcoin on its way to new highs? I know better than to make bold price projections but I will note that the next (and last) time my supply-and-demand models intersect is at around $100k in 2023 or 2024. Bitcoin Far From The Top, Bulls Step On The Accelerator On the other hand, analyst Allen Au looked at the Bitcoin Pi Cycle Top indicator to determine if the cryptocurrency has entered a bearish phase. This metric has been historically accurate to predict market tops. As the analyst explained, it uses the 111-day simple moving average and the 250 simple moving average (SMA) of the price of Bitcoin. When these two intertwine, operators begin to suspect BTC has reached its top. Related Reading | Bitcoin Whales Accumulation Patterns Shows Strong Bullish Sentiment Among Top Holders Unlike Timmer, this model predicts a Bitcoin price beyond the $300,000 mark by the end of 2021. As the analyst clarified, Bitcoin needs to outperform the previous bullish cycle in order for the metric to be accurate: What I’ve shown is not to invalidate the Pi Cycle Top indicator or agree that there is a lengthening cycle. What the simulations have shown is that the Pi Cycle Top will miss BTC’s cycle peak if it were to occur in Dec. 2021 unless BTC is in a supercycle now. In the scenarios presented by Au, without taking into consideration the exact BTC’s price prediction, the cryptocurrency will trend to the upside at least until it reaches its potential peak in 2022.

My dad has been DCAing strictly into BTC and ETH since May after my brother and I convinced him to invest in crypto. (Of course we explained about the risks and how blockchain works) He has definitely more noticeable profits than me who has been experimenting, trying to day trade and buying all sort of…
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NFTs have been live on the Cardano network for a while. Before smart contracts capability had debuted on the network, users were able to mint and sell NFTs without needing a smart contract address. This has been one of the pulls towards the network and users have taken full advantage of this capability to trade their NFTs on the blockchain. However, compared to leading NFTs blockchain Ethereum, Cardano NFT sales have been minute. Where the Ethereum network has seen NFTs sold for as high as $69.3 million in the case of Beeple, Cardano had yet to see its first million-dollar sale. This is mostly due to the network rolling out NFT capability later than Ethereum and having less interest from buyers. Related Reading | Cardano Investors In Japan Come Under Fire For $6 Million In Underreported Taxes SpaceBudz Sells First Million-Dollar NFT The NFT market on Cardano has boomed ever since smart contracts capability was introduced on the blockchain. Although these smart contracts are not required for minting NFTs, they brought more users to the network, which, in turn, brought more interest into NFTs minted on the platform. Various artists have released and sold their NFTs on the blockchain, and now, SpaceBudz has successfully recorded the first Cardano NFT sale above $1 million. ADA price trading at $2.11 | Source: ADAUSD on TradingView.com SpaceBudz is an NFT platform that is built on the Cardano blockchain. The SpaceBudz consists of 10,000 unique NFTs which users can personally own after they purchase it. The project broadcasts its sale on Twitter via a bot that reports every listing and sale of a SpaceBudz NFT. On Tuesday, the SpaceBudzBot account reported that SpaceBud #9936 had been sold for 510,000 ADA. Going by ADA’s current price of $2.11 at the time of this writing, the NFT sold for $1,076,100. A record sale on the Cardano network. SOLD – SpaceBud #9936 was bought for 510000 $ADA https://t.co/E3605AnMs0 #spacebudzsold pic.twitter.com/W6Jml5mbHt — SpaceBudzBot (@spacebudzbot) October 12, 2021 Cardano Celebrates Ada Lovelace Cardano’s native token ADA is named after one of the earliest programmers on record. Ada Lovelace is one of the women who pioneered software programming after the first computers were used in the 1940s. Members of the community refer to themselves as Lovelaces, an ode to the mathematician. IOHK joined the scientific community in celebrating Ada Lovelace Day, which commemorates the contributions and achievements of women in STEM fields. Today is Ada Lovelace Day – celebrating one of the earliest tech pioneers & programmers! It is an international celebration of the achievements of women in science, technology, engineering & math, to increase the profile of women in STEM #Cardano https://t.co/bp1X6rC79z pic.twitter.com/tCgcvaoZHZ — Input Output (@InputOutputHK) October 12, 2021 Related Reading | FTX CEO Sam Bankman-Fried Reveals Reason Behind Billions Of Dollars Tether Purchase Cardano Foundation has been making marked contributions to innovation and growth in the science and technology sector, and founder Charles Hoskinson is set to tour the continent of Africa as the foundation invests in startups building on the blockchain in the region. The Africa tour is scheduled to start in South Africa but a departure time has not been announced yet. Featured image from The Cryptonomist, chart from TradingView.com

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