Category: Cryptocurrency News

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

As probably everyone already heard, crypto.com is cutting it's rewards back by a lot. The response was immediate as we saw the price of CRO tank. Not sure why they dropped rates this drasticaly, but it definitely wasn't a wise move. And change considering that they never even gave hint of this happening soon, people…
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Bitcoin bulls continue to be demoralized, as the price per coin grinds continuously at lows for what feels like an infinite amount of time. However, a bottom could be forming, according to an indicator that has reached historical lows not seen since the 2015 bear market bottom. What followed the last signal, was 10,000% returns and Bitcoin became forever became a household name. While such returns aren’t likely a second time, such oversold conditions could yield some significant, unexpected upside. Here is a closer look at the 3-day Stochastic on BTCUSD price charts. The Stochastic Oscillator Explained The Stochastic oscillator is a a range-bound momentum indicator that uses support and resistance levels, created by investment educator George Lane in the 1950s. According to Wikipedia, “The term stochastic refers to the point of a current price in relation to its price range over a period of time. This method attempts to predict price turning points by comparing the closing price of a security to its price range.” Related Reading | Bitcoin Perfectly Follows Market Cycle Comparison, What Comes Next For Crypto? The formula provides an asset’s price expressed as a percentage of its price range between 0% and 100%. The goal of the Stochastic – often called Stoch for short – is to spot when prices close near the extremes of a recent range. It is at this point where reversals are most likely to occur. Simply put, the lower the reading, the more oversold and the more likely a bounce is due. The higher the reading, the higher the likelihood of a rejection due to overbought conditions. BTCUSD saw 10,000%+ ROI following the low | Source: BTCUSD on TradingView.com Bitcoin Bulls Attempt To Put In A Bottom Currently, Bitcoin price on 3-day timeframes is at the lowest point in its entire history. The only other time as low, was at the 2015 bear market bottom. A second-bottom followed in the months after, followed by price appreciation upwards of 10,000%. From a low of under $200 per BTC, the top cryptocurrency skyrocketed to nearly $20,000. Crypto was put on the map forever after – what happens this time? For now, bulls aren’t out of the woods. The Stochastic oscillator consists of a fast stochastic (%K) and a slow stochastic (%D). A signal to take action is triggered when these two lines cross. Bears are in the process of defending a 3-day bull cross, while bulls seek to put in a bottom once and for all. The bullish crossover hasn’t yet been completed | Source: BTCUSD on TradingView.com Both the Stochastic and RSI are used to signal overbought and oversold conditions. The two tools differ in that the RSI measures price velocity, while Stoch relies on the percentage of a trading range formula. According to Investopedia, Stochastic is more effective for a sideways market – exactly what crypto traders are painfully experiencing now. Related Reading | Time Vs Price: Why This Bitcoin Correction Was The Most Painful Yet During highly volatile conditions, the Stoch can generate false signals. However, it is hard to ignore a historically oversold signal in Bitcoin for only the second time ever, when the previous precedent provided such profitable results. What will this signal produce this time around? This is the second-lowest reading of the 3-day stochastic in the entire history of #Bitcoin. Bottom might be in, folks. pic.twitter.com/84UhmWxtNl — Tony “The Bull” Spilotro (@tonyspilotroBTC) May 3, 2022 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

Should Gatorade go meta, it may join a number of major food and drink brands exploring virtual offerings, including Coca-Cola, McDonald’s and Anheuser-Busch.

On-chain data shows the Bitcoin taker buy-sell ratio has rebounded back into the “hold” zone after touching the selling level. Bitcoin Taker Buy-Sell Ratio Observes Brief Uplift Recently As explained by an analyst in a CryptoQuant post, taker buy-sell ratio may have a hint about where BTC can head next. The “taker buy-sell ratio” is an indicator that measures the ratio between the Bitcoin buy volume and the sell volume. When the value of this metric is above one, it means the long volume is more than the sell volume at the moment. Such a trend suggests the sentiment is bullish in the market right now. On the other hand, ratio values below one indicate that the general sentiment among the investors may be bearish right now. Now, here is a chart that shows the trend in the Bitcoin taker buy-sell volume over the last couple of years: The value of the indicator seems to have observed a small surge recently | Source: CryptoQuant As you can see in the above graph, the quant has divided the Bitcoin taker buy-sell ratio into three different zones. The analyst believes it’s best to buy BTC when the indicator is in the green zone, and to sell during periods of the red region. Related Reading | Bitcoin Holders Trigger Largest Capitulation In Its History, Bearish Horizon For BTC? The yellow portion between these two is the “hold zone,” where holding until the metric touches the upper red level can be the ideal course of action. Recently, the indicator plunged down and tested this upper sell level. However, since then the metric has rebounded back up a bit instead of diving inside the red zone further. Such a formation has been observed a few times in the last two years, and the analyst has highlighted these with a purple box. Related Reading | Bitcoin Price Continues Struggle, But Miners Refuse To Sell It seems like the last couple of times this trend occurred, the price of Bitcoin observed some uptrend shortly after. So if this pattern repeats this time as well, the quant believes the crypto is likely to see another rebound this month or the next. However, something worth noting is that one more instance of this Bitcoin taker-buy sell ratio formation took place in early 2020, but back then the price instead followed up with a crash. BTC Price At the time of writing, Bitcoin’s price floats around $38.3k, down 4% in the last week. The below chart shows the trend in the price of the crypto over the past five days. It looks like the price of BTC has mostly moved sideways over the last few days | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

ENS price gained 90%+ after the protocol surpassed 1 million registered domain names in April.

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

Banco Galicia, one of the largest financial institutions in Argentina, has introduced cryptocurrency trading as part of the services it is currently offering to customers. Users interested in investing in cryptocurrency are already able to purchase four different crypto assets directly from the home banking app of the financial institution, making it reportedly the first […]

The NYM Innovation Fund will support research on mixnets and privacy-enhancing technologies.

Plutus or Coinbase??? I have been using Crypto.com for the past 2 years and this was the second time they change their terms without any upfront notice, usually that's fine but when it impact their customers live savings, it's not! MCO > CRO CDC Rewards Massacre of May 1st. The slashing has removed the competitive…
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