Category: Cryptocurrency News

submitted by /u/divyasarkar21 [link] [comments]

Bitcoin price this morning touched $50,000 – a feat that might have have made a bear market look a lot less likely. But bulls could be celebrating too early, and a max pain scenario of a symmetrical triangle few currently see could end up shaking up both bears and bulls in the days ahead. Here is a much closer look at the symmetrical triangle, what the corrective pattern suggests, and why bulls certainly aren’t out of the woods just yet. Downtrend Remains Unbroken, Symmetrical Triangle Possible Downtrends can be deceiving. They don’t always necessarily mean a bear market, and even if a downtrend line is broken, another one can form higher and prevent the reaction bulls are expecting. Related Reading | Could A Bitcoin Bull Flag Leave Bears Blindsided? For example, when Bitcoin broke out from bear market downtrend resistance, the early 2019 rally to $13,000 was the result. However, because of the new downtrend line created at that high, Bitcoin spent another full year and then some below the new downtrend resistance. There is still one more downtrend resistance to go before bulls are out of the woods | Source: BTCUSD on TradingView.com Assets often must clear three opposing trendlines for the primary trend to resume. This situation is happening now, but on much smaller time scales. Bitcoin price has made it through two downtrend lines, but one is left. Drawing a symmetrical support line provides the potential for the triangle that few technical analysts are talking about currently. Valid trendlines tend to have at least three touches, but the third touch could provide the final E-wave of a triangle corrective pattern during a bull market. The wave 4 correction could be an Elliott Wave triangle pattern | Source: BTCUSD on TradingView.com Bitcoin Price Corrective Wave Could Be Nearing Its End The E-wave could clear out any positions built at support around $40,000, crushing bulls who went all in on what they thought was a bull flag breakout. The move would also restore bearish exuberance, and push Bitcoin price back into the $30,000 range to suck in more short positions. Only then might Bitcoin price make it through the top downtrend line to continue higher. But it all depends on where the E-wave “terminates.” It is worth noting that a such a triangle during a bull market often leads to new highs. Related Reading | Bulls Regain Control Over Bitcoin Trend Strength: What To Expect An Elliott Wave corrective triangle will appear during a wave 2 or 4 of a motive wave, which represents the primary trend. An Elliott wave corrective triangle and its higher lows would keep the bull run structure in tact, and fit the Elliott Wave rule of wave alternation. If Bitcoin is in a motive wave, wave 5 should begin soon | Source: BTCUSD on TradingView.com This rule suggests that only one of the two corrective waves – wave 2 or 4 – will result in a sharp correction. The other would be a sideways correction lacking a lower low. Not only do corrective waves tend to alternate in overall severity, the patterns tend to switch. This means that if wave 2 was an Elliott Wave zig-zag, then wave 4 would be a flat, triangle, or other pattern. Eliott Wave Theory provides the roadmap for a trend. The roadmap continues to say until proven otherwise, that once wave 4 ends, wave 5 begins. But for now, bulls aren’t yet out of the woods and a sweep of lows could still be possible. Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

Bears betting on a fresh Bitcoin price capitulation may get definitively burned this time, argues Rekt Capital.

Messaging apps are ubiquitous – more than 3.6 billion people worldwide use them, with the average person sending up to 72 messages every 24 hours. Every day WhatsApp alone channels over 100 billion messages, while WeChat transmits 205 million video messages. With this popularity has come a darker side: that of hacked personal data, cyber theft, and government violations of privacy. The way messaging apps are designed, work, and are managed exposes them by default to many risks: Most messaging apps require the user to input sensitive personal data, including name, phone number, and date of birth. WhatsApp, due to its database of user phone numbers, has been used to spread misinformation and fake news. Your messaging data is stored on the cloud, where it is not encrypted – leaving it vulnerable to being hacked. Many apps use your personal data for their own purposes. Facebook is known to share the data of Facebook Messenger and WhatsApp users with advertisers.. Global surveillance operations of citizens with WhatsApp accounts have been undertaken by governments via the use of spyware. A recent series of high-profile events have highlighted the size and frequency of the problem: In September 2021, the EU’s privacy watchdog fined WhatsApp €255 million for data processing and data sharing violations. Telegram, considered the safer option to WhatsApp, suffered a massive data leak in August 2020 that exposed the personal data of over 500 million users. The personal data, including email addresses and phone numbers, of over 530 million Facebook Messenger users was stolen by hackers in April 2021. Furthermore, newer messaging platforms are not addressing the problem effectively. Signal, considered to be a superior alternative to both WhatsApp and Telegram, still uses cloud-based architecture and allows messages to non-users that are non-encrypted. A real and viable solution may instead be found in the power of Blockchain technology. A team of Lithuanian communication technology experts has recently developed a solution that specifically eliminates all the problems of global messaging platforms. This solution is called Secretum. Secretum is the world’s first and only decentralised, encrypted messaging app, built on the Solana Blockchain. It offers users a safe, hassle-free, and direct messaging platform, revolving around major technological advantages: No servers, no moderators, and complete end-to-end encryption for all messages between users. No message data or file storage in a centralised location or on the cloud – only on trusted and independently verified nodes in the Secretum network. Users can sign up exclusively with their crypto wallet addresses. No need to share names, birthdates, or any other sensitive data – in other words, total anonymity. In addition to these advantages as a messaging app, Secretum allows users to trade P2P fungible and non-fungible crypto assets in a cost-effective way, bypassing existing exchanges. Solana, considered the fastest Blockchain in the world, allows Secretum to leverage low gas fees and high block speeds, joining a successful crypto ecosystem with 400+ projects worldwide. The result is an app that drastically changes the way people communicate via instant messaging, making it safer, more reliable, and more user-friendly than ever before. Secretum has the potential to grow into a globally known, renowned, and used platform – achieving the ubiquity of WhatsApp or Telegram, only without any of their major weaknesses.

submitted by /u/ExtensionSinger4154 [link] [comments]

A growing list of mainstream financial entities have continued to increase their exposure to crypto over the last year or so.

As far as I know the pub key sizes of post quantum cryptography algorithms is of at least 1KB, wouldnt this affect gas cost drasticly when it gets implemented as it would require more strage to sign transactions? submitted by /u/AllwaysBuyCheap [link] [comments]

The ICIJ’s report suggests the “Bitcoin czar” may have been a member of the Carbanak hacking group.

https://www.binance.com/en/fee/cryptoFee Look on the fees of ETH of binance site link. Ethereum on binance chain BEP2(0) just costs 0.000063 ETH on ERC20 net 0.005 ETH So how is it possible to profit from this cheap withdrawal? Can i send it simply to my cold wallet choosing bep20/binance smart chain app? submitted by /u/mauncu…
Read more

The crypto market has started on another recovery trend. This time, the price of bitcoin has crossed $50,000 after a slow month in September that had the entire market in a chokehold. Crashes rocked the space and cryptocurrencies succumb to the massive value loss that put the market in the red for most of the month. NewsBTC had reported that September historically saw declining prices and this year was no different. In short, September is “bad vibes”. The month drew to a close with the weekend and trading volume had begun to pick back up. Low volatility usually experienced during weekends has helped give digital assets the needed push and this past weekend was no different. Prices had recovered some with the start of the new week. And after Monday’s trading day drew to a close, the early hours of Tuesday ushered in better prospects for the crypto market. Related Reading | Billionaire Orlando Bravo Reveals He Owns Bitcoin And Why He’s ‘Very Bullish’ Bitcoin had steadily climbed up from the low of $43K which it had started the month with and over the course of five days has added $7K to its value to help it break $50,000 once more. This spells good news for the market as bullish sentiments have returned with this new break. Exchange balances remain low which shows that investors are continuing to hold on to their coins. And despite mounting selling pressure through these past weeks, hold sentiment has dominated throughout the bitcoin community. Bitcoin Getting Back On Track Bitcoin had maintained an upward momentum which put it on track to a new all-time high before the September crashes reversed that trend. But nevertheless, the month spent with low momentum gave the asset a much-needed cool-off time before its next bounce towards a new all-time high. After hitting the $50,000 price point, bulls look towards taking the asset above $52K for a setup towards $60K. BTC price crosses $50K | Source: BTCUSD on TradingView.com The recovery above $50K is bringing traders back into the market as the Fear & Greed Index once again goes into greed. Moving up 29 points on the index to take the market out of extreme fear from the close of last month. This turn in market sentiment will result in mounting buy pressure on investors, pushing them to throw more money into the market in order to not miss the next rally. Related Reading | Why The Bitcoin At $100K Discourse Remains Strong Despite Market Crashes This will inadvertently lead to an increase in the value of the asset, and by extension, the entire crypto market stands to gain from this buying pressure given that the market generally follows the price of bitcoin. Bitcoin is currently trading at a little less than $50K at the time of this writing, owing to significant resistance from the $50K point it had hit not too long ago. The asset is up 4.67% in the last 24 hours and the market cap sits at $939 billion. Featured image from CryptoPotato, charts from TradingView.com