Category: Cryptocurrency News

It has been a rough year for Bitcoin and most major altcoins. Over the last 24 hours, Bitcoin lost 1% of its value, which points towards consolidated price action. BTC has not made much progress over the past week either, as the coin only lost 1.6% of its market value. For multiple weeks, the coin has been oscillating between $16,400 and $18,000. The closest support line for the coin stood at $16,000. The technical outlook for Bitcoin depicted mundane price action due to a decline in the buying strength on the one-day chart. Since the price of Bitcoin has remained undecided for quite some time now, sellers have flooded the market, indicating that the coin is headed toward another round of depreciation. The trading volume of Bitcoin has declined considerably, reinforcing that bears were in charge of the asset’s price. If the selling pressure keeps mounting, BTC will soon lose its crucial price level of $16,000. Currently, BTC is down 76% from its all-time high, secured in 2021. Related Reading: Ethereum Finishes 2022 With ATH Correlation To Bitcoin, Despite The Merge Bitcoin Price Analysis: One-Day Chart BTC was trading at $16,550 at the time of writing. Bitcoin was trading close to its immediate support level of $16,000. Going by the technical outlook, the coin might undergo further depreciation before it starts to reverse its price action. Overhead resistance for Bitcoin was $16,900; clearing this could help the crypto reach $17,400 and eventually attempt to breach $18,000. On the flip side, if Bitcoin moves below the current price mark, it will fall through $16,000 and exceed $15,800. The amount of Bitcoin traded in the last session declined, indicating a fall in buying strength for the asset. Technical Analysis BTC traders might again witness a fall in asset prices over the upcoming trading sessions. The Relative Strength Index (RSI) was below the half-line, near the 40-mark, which indicates that sellers outnumbered buyers heavily. RSI had also noted a downtick, signifying further loss of value. Similarly, the BTC price was below the 20-Simple Moving Average (SMA) line, which signals that sellers were driving the price momentum in the market. The SMA also formed a death cross; it is formed when a longer moving average line crosses over a shorter moving average line; in this case, the 50-SMA line was above the 20-SMA line. This sign on the chart is accompanied by the bears strengthening in the market. Other technical indicators have also pointed out that sellers are here to stay a little longer. The Moving Average Convergence Divergence (MACD) indicates price momentum and reversals. MACD depicted a sell signal as the indicator noted red signal bars after undergoing a bearish crossover. The sell signal could mean that the price would depreciate further. The Directional Movement Index, which portrays the price direction, was negative. The -DI (orange) line was above the +DI (blue) line. The Average Directional Index (red) was near the 20-mark with an uptick, emphasizing that bearish action could gain momentum over the immediate trading sessions. Related Reading: A Crypto Holiday Special: Past, Present, And Future With Ex-Binance CFO Wei Zhou Featured Image From Unsplash, Charts From TradingView.com

After FTX co-founder Sam Bankman-Fried (SBF) was released on bail and traveled to his parent’s home in California, it has been reported that SBF was visited by the crypto advocate Tiffany Fong, and also the “Big Short” author Michael Lewis while he’s been on house arrest. Fong detailed she managed to interview SBF, while Lewis […]

Fee so high seems like a cash grab. Are operators in trouble? Are they suffering in this bear market so much that have to hike those fees up just to survive? A recent article from blooomberg suggests so: Coin Cloud, which runs about 5,000 ATMs across the US and Brazil, has tapped advisers to help…
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The former FTX CEO denied moving the funds saying; “I’m not and couldn’t be moving any of those funds; I don’t have access to them anymore.”

Mr. Park Mo was found dead after an investigation had been launched against him for embezzlement and stock price manipulation.

Matt Wallace the owner of "Final Stand" channel, a popular blogger on Twitter and YouTube, earlier this year made a serious bet on DOGE but failed. In mid-June, he stated that his confidence in the original meme coin was so high that he promised to delete his channel on YouTube with 242,000 subscribers if a…
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The Polygon (MATIC) price has been on a downward spiral for the last couple of weeks. Over the last 24 hours, MATIC lost 4% of its value. The altcoin has also lost about 6% in the last week. Earlier in November, MATIC touched the $1.20 price mark and plunged significantly. Since the coin plummeted in November, the Polygon price has noted a freefall in its value. Going by the technical outlook on the daily chart, buyers are nowhere to be found. It will be difficult for MATIC to sustain itself above its immediate support level. The buying strength of Polygon has to increase considerably for it to remain above the local support line. Over the past month, the coin has breached several important price floors. After trading sideways for a while, MATIC lost buyers further, which made the coin fall on its chart again. For Polygon, the most important price floor currently stands at $0.74. If MATIC loses that support line, the coin can register a significant decline of 14%. The market capitalization of MATIC also declined over the past few weeks, which depicts bearishness for the coin. Currently, the coin is trading 74% below its all-time high secured one year ago. Related Reading: Most Public Crypto Firms Underperformed Bitcoin In 2022, Miners Hit Worst MATIC Price Analysis: One-Day Chart Polygon was trading at $0.76 at the time of writing. The coin was trading extremely close to the immediate support line of $0.74; one push from the sellers and the price could take another significant bearish turn. Overhead resistance for MATIC was $0.81; crossing this price level will help the altcoin reach $0.84. The $0.84 level has previously acted as a propelling point for the asset’s price, so this could mean that moving above the $0.84 level would help the coin reverse its price action. On the other hand, a fall from the present price mark will bring the altcoin to $0.67 and then to $0.63. The amount of Polygon traded in the last session was red, indicating selling dominance. Technical Analysis The coin was in the seller’s dominant zone for most of this month. The coin barely recovered after it lost the $0.84 support line. The Relative Strength Index was below the 40-mark, which depicted that the coin received more sellers than buyers. In correspondence with the same, the coin moved below the 20-Simple Moving Average (SMA) line. This meant that the sellers were driving the price momentum in the market. Usually, when the coin hovers too close to the oversold zone, the price reverses. If demand returns, the coin will move above the 200-SMA line (green), which points towards a potential rally. Regarding selling strength, the indicators pointed out that the selling spree is not over yet. The Moving Average Convergence Divergence (MACD) indicator depicts price momentum and reversals. MACD showed red signal bars, which are tied to a sell signal. This was an indication that the coin could dip further on the chart. The Chaikin Money Flow reads capital inflows and outflows; the indicator was below the half-line, signifying lower capital inflows than outflows. Related Reading: Santiment: Bitcoin Will Trend Lower Because Whales Are Still Selling Featured Image From Unsplash, Charts From TradingView.com

Vitalik Buterin says that “smart people” have told him Solana has an “earnest” developer community.

At the end of 2021, a myriad of people thought a handful of smart contract platform tokens, often referred to as ‘Ethereum killers,’ would flip the second-largest crypto asset in terms of market capitalization in 2022. As 2022 comes to an end, statistics show that none of the so-called ‘Ethereum killers’ have surpassed the leading […]

The last week of 2022 didn’t turn out to be a good one as the industry recorded multiple exploits and an exit scam scare.