Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

Can Dogecoin Reach $0.85? Bullish Setup Hints At Potential For Advance

Dogecoin (DOGE) has recently captured attention due to its price’s downward trajectory. While the current decline in DOGE’s price might raise concerns, astute traders are discerning a potential opportunity amidst the turmoil.  As reported by CoinGecko, the DOGE price stands at $0.074288, reflecting a 3.6% drop in the past 24 hours and a 5.2% decline over the past seven days. These figures emphasize the coin’s recent volatility and the challenges that DOGE holders and traders face.  Related Reading: Kaspa (KAS) Takes Off With 23% Burst – What’s Fueling The Thrust? However, beneath the surface of these numbers lies an intriguing pattern that might hold the key to future price action. Source: Coingecko Dogecoin Potential For Bullish Continuation Despite the recent price woes, technical analysis unveils a fascinating pattern on DOGE’s four-hour time frame chart – the bullish flag pattern. This pattern, often observed as a continuation signal, consists of a sharp downward slide resembling a flagpole and a consolidation phase marked by parallel trendlines.  In DOGE’s case, this pattern is at play, suggesting that the ongoing price decline is a precursor to a bullish resurgence. According to a recent report, the battle between support and resistance levels is evident. DOGE’s price movements within the channel structure reflect this struggle vividly. The support trendline has demonstrated its strength with three discernible bounces, underscoring its importance as a potential rebound point.  DOGE market cap reached $10.25 billion today. Chart: TradingView.com Conversely, the overhead resistance has twice thwarted upward price movements, showcasing its influence over trader decisions. These dynamics highlight these levels’ pivotal role in determining potential trend shifts. Historically, flag patterns indicate a temporary pause following a notable price movement, often paving the way for continuing the prior trend. If DOGE’s buyers successfully breach the resistance barrier, an estimated 8% price surge could enable the coin to break through the psychological barrier at $0.085. Divergent Perspectives Amid the optimism surrounding the flag pattern, caution is unveiled in a separate report. The report’s viewpoint suggests a bearish outlook for DOGE, grounded in the coin’s struggles to overcome the resistance of a falling wedge pattern. $DOGE has performed its new Weekly Close below the pattern resistance As a result, #DOGE is potentially set up for a rejection and intra-pattern consolidation Worst case scenario, DOGE could retrace to the very bottom of the market structure#Crypto #Dogecoin https://t.co/K8KUgizgNw pic.twitter.com/sVbLgHlNzd — Rekt Capital (@rektcapital) July 31, 2023 DOGE might experience a retracement in a more pessimistic scenario, descending to the wedge’s diagonal support at around $0.055. This divergence in opinions underscores the inherent unpredictability of the cryptocurrency landscape. Related Reading: Binance Coin (BNB) Price Gears Up For A 10% Upswing – Here’s How While the downward trajectory of DOGE’s price might trigger concern, it also beckons an opportunity for those who analyze its underlying patterns. The emergence of the flag pattern amidst the price decline hints at the potential for a bullish continuation. Yet, analysts’ differing perspectives serve as a reminder of the intricate nature of cryptocurrency markets.  (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Reddit

Cryptocurrency space at Defcon 31 next week

This is a reminder that we will host a cryptocurrency area at Defcon again this year. If you decide to attend, come to the Alliance Ballroom of Caesars Forum. Find us next to the Hacker Warehouse. Pick up some cool merch, and get free cold storage and electronic wallets. We'll give away several thousands worth…
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List of degen crypto “projects” that scammer/rugpulled in the last months

Welcome to another episode of "beware it's a scam"! The analysis of scam/ponzi/MLM crypto "trading companies" or tokens that are clearly a scam. Here is an updated list of DEGEN crypto "projects" that rug pulled/scammed/failed in the last 6 months: Alpha Capital . app: see my detailed post about this. They were giving ≈ 1,15%…
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How to use Microsoft Power BI

Learn how Power BI unlocks the potential of your data and is useful for data visualization and analysis.

Many don’t seem to understand the meaning of a “ponzi scheme”

Often in the sub we see scams labelled as "ponzi schemes". Many believe it's the general term that can be dropped any time that a creator is running away with the funds of investors. But a ponzi scheme has a specific meaning. It refers to a specific type of scam. Returns to investors are paid…
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Binance starts BTC/FDUSD and ETH/FDUSD trading pairs with zero-fees

Users can trade ETH/FDUSD with zero maker fee, while the standard taker fee will apply based on the user’s VIP level.

MicroStrategy’s Michael Saylor Says Spot ETF Approvals Have No Bearing On Bitcoin Strategy

MicroStrategy co-founder and former CEO Michael Saylor has stated that potential Spot Bitcoin ETF approvals will not influence the company’s “Bitcoin Strategy.” MicroStrategy Has A Unique Bitcoin Offering During a discussion with Bloomberg on August 2, Saylor stated that even if the SEC approves the spot Bitcoin ETF applications, it would not affect his company’s offerings. According to him, MicroStrategy’s Bitcoin offering offers a unique proposition that the spot Bitcoin ETFs cannot emulate.  Related Reading: BlackRock CEO Larry Fink Is The Best Thing To Happen To Bitcoin, Mike Novogratz Says Saylor echoed similar sentiments during the earnings call on August 1 when he stated that MicroStrategy’s unique “Bitcoin operating strategy” will make it stand out even when spot Bitcoin ETFs arrive.  The ex-CEO explained that, “We can tap into leverage because we’re an operating company, which an ETF couldn’t do so we view it as being beneficial to the entire ecosystem.” However, he believes these spot ETFs are good for the crypto industry as they will welcome institutional investors who boast more than enough liquidity into the space. Differentiating his company’s offering from spot ETFs, he stated: We are a unique instrument, we are the sportscar whereas the spot ETF is going to be the supertanker. Spot ETFs will serve another set of customers in a synergistic fashion to grow the entire asset class. MicroStrategy had filed an application to the SEC to sell up to $750 million in Class A common stock. Saylor also confirmed that his company would use the potential proceeds of this stock sale to “acquire Bitcoin.”  BTC price remains volatile amid Spot ETF expectations | Source: BTCUSD on Tradingview.com  MicroStrategy’s Chief Financial Officer, Andrew Kang, had also confirmed that the proceeds from the proposed sale will be used for “the purchase of Bitcoin as well as the repurchase or repayment of outstanding debt.” Saylor’s Faith In Bitcoin Paying Off Saylor’s MicroStrategy, which happens to be one of the largest holders of Bitcoin, started buying the cryptocurrency in 2020 as a hedge against inflation. The company’s purchases largely resulted from Saylor’s faith in the token as he continued to advocate for it despite the recent market conditions in the crypto market. Saylor stepped down as the CEO a year ago just to focus on the company’s Bitcoin purchasing strategy. This strategy seems to be paying off as it provides an edge for the company over its competitors, with the MSTR stocks rising tremendously since MicroStrategy’s adoption of Bitcoin.  Related Reading: Ethereum ETFs Heat Up As Filings With SEC Climbs To Six As revealed by Saylor in a tweet, MicroStrategy’s stocks have risen by 254% since 2020 when it started buying Bitcoin, with this performance putting the company above some key assets and big tech stocks in terms of performance.  Saylor is not relenting as he confirmed that the goal is to “accumulate as much Bitcoin as we can” when quizzed about how much more Bitcoin the company intends to add to their existing holdings of 152,800 BTC. Featured image from Medium, chart from Tradingview.com

FTX files motion to exclude its Dubai unit from bankruptcy proceedings

FTX filed for bankruptcy in November 2022, with 102 of its units worldwide entering Chapter 11 proceedings.

AI chip developer gets $100 million from Samsung and Hyundai

The AI chip developing company Tenstorrent just closed a funding round worth $100 million, which was led by manufacturing giants Samsung and Hyundai.

Bitcoin volume falls to 3-year low as summer activity sags

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