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CryptoNews of the Week by NordFX

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CryptoNews of the Week

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- El Salvador entered into force a law recognizing bitcoin as a legal means of payment on Tuesday, September 7. President Nayib Bukele tweeted about this three minutes before midnight local time. ?In three minutes, we will go down in history,? wrote Bukele.
Earlier, the head of state confirmed that the government of El Salvador acquired the first 200 BTC. The purchase is part of a new $150m fund approved by the authorities to secure the exchange of bitcoin and dollars.

- Bitcoin has been growing since July 20. And so, on the news that BTC became the official currency of El Salvador, its quotes fell 18% on Tuesday September 7, from $52,870 to $43,205, dragging down the entire crypto market.
The World Bank refused to support El Salvador in accepting bitcoin as a legal tender, and leading rating agencies such as Fitch were quick to point out the weaknesses of the country's government's move. In particular, El Salvador's insurance industry will be hit. Bonds rated B- are already circulating in it, and now the situation will be aggravated by the presence of an unstable cryptocurrency.
At the time of writing this review, the leading cryptocurrency has managed to win back some of its losses, and it is trading at around $46,500 per coin.

- Standard Chartered Global Banking Group analysts have been positive about the prospects for bitcoin and ethereum. The team of researchers compared ethereum to the financial market, where lending, insurance and exchange transactions take place. Bitcoin, in their opinion, is more like a currency. Therefore, given the wider range of ETH use cases, its capitalization may eventually reach the first cryptocurrency.
Standard Chartered predicts bitcoin prices in the $50,000-$175,000 range and ethereum in the $26,000-$35,000 range. Thus, these cryptocurrencies should grow threefold and tenfold, respectively. ?While the return on ETH may outperform BTC in the future, the risks are also higher,? the bank said.

- Three-time National Basketball Association of North America (NBA) champion Stephen Curry asked Twitter users for advice on cryptocurrencies. ?Just starting to play the crypto game... Do you have any advice? ', wrote the athlete. Several prominent crypto industry participants reacted to the tweet. MicroStrategy chief Michael Saylor said he spent a lot of time thinking about the issue, ?and chose bitcoin.? ?I bought over $3 billion worth of bitcoin as I consider it the future of digital property,? Saylor wrote.

- Senior strategist Mike McGlone called the $100,000 mark for bitcoin and the $5,000 mark for ethereum as "the path of least resistance" in the September Bloomberg Crypto Outlook report. ?Crypto assets are entering a renewed second-half bull market after a serious drop from previous highs,? the Bloomberg expert noted.
He also characterized investment portfolios that do not have any of these cryptocurrencies as vulnerable. ?We envision the future of bitcoin as a digital reserve asset that complements the dollar,? McGlone concluded.

- Ark Invest CEO Cathy Wood suggested that the cryptocurrency market is far from ending its rally. Despite the recent rally, the markets show no signs of a price bubble, she said. ?We think bitcoin is much more than a store of value or digital gold. This is a new global monetary system that is completely decentralized and not subject to politicians' whims".
The top executive added that cryptocurrencies have become a generational phenomenon that evolves as technology advances. ?The average investor does not understand how provocative the next five to fifteen years will be, as these S-curves feed off each other and enter exponential growth trajectories that we have not seen before,? says Wood.
At the same time, the expert believes that regulation is necessary for the maturity of the sector, which will affect bitcoin in the most positive way.

- US-based Crypto Asset Recovery company specializes in guessing ?hundreds of millions or billions? of passwords. Its experts have concluded that bitcoin wallets whose passwords have been lost by their owners currently store billions of dollars? worth of coins. At the same time, access to approximately 68-90 thousand BTC can be restored. This is about $4 billion at current prices.
According to a report from another company, Chainalsis, up to 20% of the existing 18.5 million bitcoins have been lost.

- According to the latest research, 17% of Australians own cryptocurrencies. Bitcoin is the most popular digital asset, with Ethereum, Dogecoin and Bitcoin Cash taking the second, third and fourth places.
The majority of holders (30%) reported that they purchased crypto assets in order to diversify their portfolio. Second on the list of reasons (24%) was the rise in the price of bitcoins and altcoins. There are twice as many men as women among cryptocurrency holders. This is while the number of women holding crypto wallets has doubled since the beginning of the year.

- The management of the billionaire Bill Miller's Miller Opportunity Trust believes that bitcoin has significant growth potential, as this asset can act as a digital analogue of gold.
Miller Opportunity Trust has recently announced the purchase of 1.5 million shares of the Grayscale Bitcoin Trust fund for $44.7 million. The report to the US Securities and Exchange Commission (SEC) notes that the investment was made in anticipation of the asset's growth. Fund strategists and analysts have been monitoring bitcoin performance for a long time and chose the best time to buy.
?Bitcoin has been falling this quarter and the trust's shares have been traded at a significant discount to the value of the underlying asset, providing additional upside potential. While gold has a capitalization of $11 trillion, bitcoin only reaches $900 billion, a significant lag. We are in the early days of bitcoin adoption and the asset will be very volatile, but we believe the risk-to-reward ratio is attractive,? Miller Opportunity Trust said in a statement.


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#46 - September 08, 2021, 02:32:36 PM

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CryptoNews of the Week

CryptoNews of the Week by NordFX in General Cryptocurrency Discussion_1ExmN2f

- Analytics software provider MicroStrategy has purchased an additional 5,050 BTC at $48,099 for approximately $243 million. This was announced by the head of the company Michael Saylor. As of September 12, MicroStrategy owns 114,042 BTC. A total of $3.16 billion was spent on their purchase, thus the average cost was $27,713 per coin.
MicroStrategy was the first public company to invest a portion of its equity capital ($ 250 million) in bitcoin in August 2020. Later, the company's board of directors approved a policy to increase investment in digital gold at the expense of cash reserves. Other US companies that have made similar large investments in cryptocurrency include Jack Dorsey's Square and Elon Musk's Tesla. Now they are set to be joined by billionaire Alan Howard's Brevan Howard Asset Management hedge fund, which opened a dedicated BH Digital division for these purposes.

- US citizen of Canadian origin Galeb Alaumari was found guilty of helping North Korean military intelligence officers launder funds obtained as a result of hacking of cryptocurrency exchanges and hacker attacks on various companies and financial institutions. The WannaCry ransomware stole more than $1.3 billion in total. This includes the cyberattack on Sony Pictures Entertainment, the attempted hacking of banks in Vietnam, Bangladesh, Taiwan, Mexico, Malta, and the theft of various personal data.
Galeb Alaumari said he was responsible for cashing out funds through fake bank accounts and cryptocurrency. The defendant also confessed to sending out phishing emails. One of the victims of the scheme was a university in Canada, which transferred $9.4 million to fraudsters, believing it was communicating with a major construction company. The US Federal court sentenced Alaumari to 11 years in prison and a $30 million fine.

- Ark Invest CEO Cathie Wood expects bitcoin to rise to $500,000 within five years. In a conversation with CNBC, Wood explained that the validity of her forecast will depend on whether companies continue to diversify their bitcoin reserves and whether institutional investors decide to place 5% of assets in it.
The head of Ark Invest noted that if she had to choose one cryptocurrency, she wouldn't hesitate to prefer bitcoin ?because states now consider it a means of payment.?
Wood also highlighted the potential of ethereum. ?Ethereum is experiencing an explosion of developer activity thanks to NFT and DeFi. I am fascinated by what is happening in DeFi, which is dramatically reducing the cost of infrastructure for financial services. Although I know that the financial industry does not welcome this right now. We are nevertheless likely to continue with the 60% bitcoin and 40% ethereum strategy,? she added.
Earlier, analysts at Standard Chartered bank predicted bitcoin to rise to $175,000 and ethereum to $35,000.

- After El Salvador recognized bitcoin as legal tender, Panama decided to follow suit. A cryptocurrency bill has been submitted to the Panamanian Congress. Panama does not have either a central bank currently or its own official currency, and the US dollar is used as a means of payment.
If the law is passed, legal entities and individuals of Panama will be able to freely use BTC and ETH as a means of payment for any government or commercial transactions. In addition, it is proposed to transfer public records to the blockchain and digitize legislative and administrative acts. ?Such a move will help create a lot of jobs, attract investment and make the government more transparent,? the bill's initiators said.
Unlike El Salvador, the Panamanian option does not provide for the mandatory use of cryptocurrencies, that is, citizens and companies will be able to freely decide whether they want to accept cryptocurrencies or be limited to just the dollar.

- A recent survey by Sherlock Communications found that almost half of Brazilians agree that bitcoin should be accepted as the country's official currency, as El Salvador did. 48% of respondents voted for this (17% support without any doubt, 31% with some conditions). Only 21% rejected this idea (9% categorically, 12% moderately). The remaining respondents (31 percent) maintain a neutral stance.

- Artist Monica Rizzolli earned 1623 ETH (about $5.4 million at the time of the transaction) for the sale of the NFT series "Fragments of an Infinite Field" on the Art Blocks marketplace. The collection, consisting of 1,024 generative images, sold out on September 13 in less than an hour. The price for individual copies started from 10 ETH. Well-known NFT collectors Cozomo de' Medici and JDH spent hundreds of thousands of dollars to buy individual paintings.
The main parameter for creating the composition was the seasons, which set the colors and the phenomena depicted in the picture. Subsequently, some of the collection's items were resold on the OpenSea marketplace for 69 ETH (about $229,000).

- The State Bureau of Investigation of Ukraine has established the involvement of three employees of the cyber department of the Security Service of this country (SBU) in the kidnapping of a cryptocurrency trader.
According to the investigation, SBU agents received information about the trader having a large amount in cryptocurrency in autumn 2020. They organized his abduction, took him to the forest and beat him for an hour and a half, demanding that $200,000 be handed over to them. After being refused, the agents moved the abductee to police headquarters. They continued to extort funds There, lowering the amount to $80,000. The trader was forced to agree, and called his wife, who transferred 7 BTC (at the time of the transaction, the equivalent of the ransom amount) to the cryptocurrency wallet specified by the extortionists.
All three face charges of robbery with violence, kidnapping and abuse of authority. The investigation also examines the involvement of eight other SBU officers in the crime.

- Austrian economist Ronald-Peter St?ferle, managing partner of investment company Incrementum AG, said that "in five to ten years, bitcoin will rise to heights that we cannot currently imagine." At the same time, the top manager noted that the next phase of bitcoin's growth has not yet begun. According to him, the rise in price of bitcoin will occur when the asset becomes "a means of inflation protection during the ongoing large monetary experiments."

- Crypto trading veteran Ton Weiss predicts that bitcoin (BTC) will complete the current correction relatively soon and then rise sharply to six-digit levels.
Weiss explained during the new strategy session that the recent move in the BTC price is reminiscent of July, when the flagship cryptocurrency fell to a one-year low below $29,000 and then aggressively rose to $52,000 in less than six weeks.
According to Weiss, bitcoin is likely to fall short and give traders an opportunity to buy near the $40,000 level. After which it will bounce back sharply from that support and go up.
?The $40,000 low will come either next week or may be delayed until early October, and then we will cross that area with a rise to $50,000 in mid to late October. We will be over $65,000 by early November, and probably $100,000 by the end of December,? he said.


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#47 - September 15, 2021, 02:20:29 PM

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CryptoNews of the Week

CryptoNews of the Week by NordFX in General Cryptocurrency Discussion_rxkaRQx

- The risk of default by Evergrande, one of China's largest construction companies, which has accumulated 2 trillion yuan ($309 billion) in debt, triggered panic in financial markets on September 20. Investors began to get rid of risk assets, tumbling stock markets. The cryptocurrency market did not escape the sell-off either. While bitcoin was at $52,870 on Monday, it fell short term to $39,666 on Wednesday, losing up to 25% of its value.
Evergrande's structure includes 200 offshore and 2,000 Chinese companies operating in multiple countries, according to Bloomberg. The 2 trillion-yuan liability is the world largest debt and is equivalent to 2% of China's GDP. Evergrande's net worth is about $3.9 billion, nearly 80 times less than its $309 billion debt.

- The US Treasury has included the Suex cryptocurrency exchanger in the sanctions list, as well as 25 addresses in the bitcoin, ethereum and tether networks. According to the Office of Foreign Assets Control (OFAC), at least eight ransomware, scam projects and darknet marketplaces passed through Suex.
Chainalysis, an analytics company involved in the investigation, found that Suex had received more than $480 million in bitcoin since February 2018. At least $160 million of that amount is related to illegal activities.

- The president of Euro Pacific Capital, a well-known supporter of gold Peter Schiff once again criticized bitcoin and allowed the imminent end of the "cryptocurrency bubble". ?There are now more than 12,000 tokens, 84 of which currently have a market cap above $1 billion. There's nothing special about bitcoin. Altcoin supply will continue to grow until the cryptocurrency bubble bursts. Supply will exceed demand and prices will collapse almost overnight," Schiff wrote. In his view, the first cryptocurrency would ?only take money from the pockets of people stupid enough to buy it.?
In the comments, the financier reaffirmed his commitment to the precious metal and pointed out that the value of gold is "in its usefulness." ?You can do more with gold than with any other metal, and it does not lose its unique properties over time,? said Schiff.

- Bitcoin is a monetary standard that will become a global reserve currency one day. This opinion was expressed by the head of SkyBridge Capital Anthony Scaramucci. He urged people to learn more about the crypto industry, even if they are skeptical about the digital asset market. According to him, it is important to understand ?why you don?t want to own digital gold?.
?Bitcoin is volatile because it is at an early stage of adoption. Amazon had the same volatile curve 24 years ago. But if you invested $10,000 in Amazon shares at the IPO, you would receive $21 million today,? explained Scaramucci. He advised newcomers to the crypto industry to allocate up to 5% of their investment portfolio to digital assets, explaining the recommendation as high profits if the market grows and low losses if it collapses.

- An anonymous bitcoin wallet owner who bought $8.1k worth of cryptocurrency in 2012 has come forward almost 10 years later. According to the profile publication Decrypt, their account held more than 616 bitcoins. During its storage, each coin has increased in value nearly 3,500 times, with the total value of its assets approaching $28 million.

- The fair price of Ethereum based on network activity is $1,500, JPMorgan strategist Nikolaos Panigirtsoglou said in a Markets Insider commentary. ?We're looking at hashrate and unique address counts to try to understand the value of ethereum,? added the JPMorgan strategist. According to him, the second-most capitalized cryptocurrency network is less attractive than its price suggests. Panigirtzoglou noted the growing competition from Solana, Cardano and other blockchains.
For reference, the ETH price has dropped 40% from $4,020 to $2,650 this week from September 20-22.

- The opposite point of view is held by cryptocurrency trader and analyst Lark Davis. He believes that the ETH rate will reach $10,000 in the coming weeks. The analyst notes that large investors, banks and corporations continue to invest in the ethereum ecosystem.
Davis cited its limited supply in the market as another factor in favor of the growth of this altcoin. Currently, the reserves of the second cryptocurrency on cryptocurrency wallets are at record lows. This shows the reluctance of investors to sell their holdings in ETH. ?87 per cent of coins have not moved for more than three months. 87 per cent! That's crazy, ? the analyst exclaimed.
In addition, a significant shortage of ethereum is created by burning of underlying transaction fees as well as by an increase in ethereum 2.0 staking deposits.

- While the price of bitcoin has climbed from $31,000 to $52,000 since the end of July, long-term holders have sold the coins they purchased between the $18,000 and $31,000 levels, consistently making a profit of about $1 billion per day. This data is provided in the latest report by Glassnode. Long-term in this classification refers to holders who received their coins more than 155 days ago.
?Note that these prices formed in the 2020-2021 bull market and suggest that long-term bitcoin investors may be becoming more active traders, record profits, use derivatives to hedge risks, or speculate more than in Q2,? Glassnode experts write. ?This may also suggest uncertainty in the current market structure, as coins that have been purchased at close to current prices are being spent.?
At the same time, the authors note that despite the increased sales from this group, there was also a strong demand. As confirmation, they point to the fact that the aggregate balance of bitcoin on the exchanges continued to decline and hit a new multi-year low of 13% of turnover before the collapse on September 20.

- The FBI received over 1,800 complaints related to cryptocurrency fraud on dating sites between January 1, 2021, and July 31, 2021. Victims' losses are estimated at $133.4 million.
People are more likely to suffer from depression and loneliness during the pandemic, so dating and socializing apps have become very popular. First, the scammers establish "contact" with the potential victim. After getting the victim's trust, the attacker claims to be versed in cryptocurrency investments and trading and directs the person to a fraudulent site. Once a user has invested a certain amount, the scammer allows them to withdraw the ?first profit?: a small amount of money, thus gaining the trust of the victim. The scammer then advises the user to deposit a larger sum. If the ?client? stops receiving funds, then communication with the client ends as well.

- Financial market experts have recently conducted a study, the subject of which was the proposal of the famous car manufacturer Henry Ford to replace gold with the so-called "energy currency". The issue was raised by him in the New York Tribune as early as 1921. The study culminated in the fact that Ford's proposed project to launch a new currency is strikingly similar to the description of BTC, which was presented in 2008 by Satoshi Nakamoto.
The front page of the newspaper featured an article detailing the "energy currency" that Ford believed could end wars and become the backbone of a new era's monetary system.
The auto industrialist proposed replacing gold with a currency that would fully function on the basis of "units of force", for which he could build a huge hydroelectric power station. Thus, the potentially created currency would have been able to become the most stable and secured monetary unit of the time and would prevent a massive increase in the rich profiting from speculation with gold.


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#48 - September 22, 2021, 02:32:07 PM

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CryptoNews of the Week

CryptoNews of the Week by NordFX in General Cryptocurrency Discussion_3UC3CNt

- The author of the bestselling book "Rich Dad, Poor Dad" and entrepreneur Robert Kiyosaki predicted "a giant stock market crash in October." The same fate awaits gold, silver and bitcoin, he said. Kiyosaki cited U.S. Treasury bonds, which have recently been rising rapidly, among the reasons for the collapse. ?Cash is best for making deals after a crash,? the entrepreneur wrote.
Kiyosaki also spoke out about another Chinese crackdown on the crypto industry, which caused the price of bitcoin to fall below $40,000. ?This means that China is going to launch a government cryptocurrency. If the US follows suit, the Fed will outlaw bitcoin. The U.S. government will become centralized like China, communism will begin in the United States, our freedoms will end,? he wrote.

- The United States of America should take the opposite position to China and buy bitcoin, said Thiel Capital COO Blake Masters. ?Let's do the opposite. The U.S. government should buy bitcoin's strategic reserve, Fort Nakamoto, the new Fort Knox,? he wrote.
Masters is a Republican Party representative and Senate candidate from the state of Arizona. Those wishing to support his election campaign can send donations in digital gold, he said. Earlier, his fellow party member, Senator Pat Toomey, called China's crackdown on the cryptocurrency industry "a great opportunity for the United States."

- Due to a security failure, a fake cryptocurrency giveaway was carried out on the popular Bitcoin.org website. Visitors to the website saw immediately a pop-up asking them to send cryptocurrency to a bitcoin wallet using a QR code and receive twice as much in return. The fake message said the Bitcoin Foundation would like to thank the community and that the giveaway will be limited to the first 10,000 users.
Visitors to the site could not remove this message, making the rest of the website inaccessible. Bitcoin.org was founded in August 2008 by Satoshi Nakamoto himself. It hosts various important materials, such as the original white paper and developer documentation on bitcoin.
Despite the fact that the fake giveaway scam is not new at all, there were some who bought into the trick and sent quite large amounts in BTC to the fraudsters' wallet.

- The popular Chloe Baffled meme depicting a two-year-old girl was sold as a non-fungible token (NFT) for 25 ETH, nearly $74,000 at the time of the deal. The buyer was the music company 3F Music from Dubai (UAE). The family will keep the proceeds in Ethereum in hopes of further growth of the cryptocurrency. The mother of the heroine plans to spend this money in the future on the education of her daughters, and the ?baffled? Chloe herself wants to buy a horse or ?build a Disneyland,? writes the BBC.
Chloe became popular in 2013 after posting a video of her reacting baffled to news of a trip to Disneyland while her older sister Lily cries. This video gained more than 20 million likes.

- Analyst under the nickname PlanB, the author of the Stock-to-Flow (S2F) model, has just recently predicted that the bitcoin rate will exceed $100,000 at the end of this year. At the same time, he warned that the next few months will be key for the digital asset market. The Stock-to-Flow (S2F) model predicts the value of bitcoin by calculating the ratio of the asset's total available supply and its annual increase. And now the analysts' calculations have shown that instead of rising, the price of the flagship coin could drop to $30,000.

- Over the past three months, the value of the portfolio of Mr. Gox - a crypto trader hamster on the Twitch platform - has increased by 30%. Over the same time, Warren Buffett's Berkshire Hathaway fund assets fell 2%.
The hamster's owner built a special cage for it in June 2021, equipped with optical sensors that are connected to the Arduino Nano controller. This allows the rodent to "trade" digital assets. Turning the running wheel, the hamster "selects" a specific cryptocurrency for trading. The program will sell the coin when the rodent runs through the left tunnel and will buy it if it passes through the right one.
The rodent managed to outperform not only Berkshire Hathaway, but also the S&P 500 (+ 6% over the same period) and NASDAQ 100 (+ 12%), as well as bitcoin itself (+ 23%). The largest asset in Mr. Gox's portfolio is Tron (TRX). The hamster purchased it five times, and the price of this cryptocurrency has grown by 40% since the first transaction.

? According to TripleA research, the number of cryptocurrency users worldwide exceeded 280 million, with India accounting for the largest increase. There are now over 100 million digital currency users, or 7.3% of the country's population. As for other countries, there are 27.4 million in the United States, 17.3 million in Russia, 13.0 million in Nigeria, and Brazil is fifth with 10.3 million.
At the same time, the number of businesses accepting cryptocurrency as payment has grown to 18,000. The report identifies top brands such as fast-food restaurant chain Burger King, travel company Expedia and online commerce platform Rakuten that now accept cryptocurrency payments.

- Billionaire trader, SAC Capital Advisors hedge fund owner Steve A. Cohen has seen a perfect scenario for Bitcoin that could steer it into future rallies. So, Cowan believes that BTC may now go down, while it is important for the price to hold the 20-week simple moving average (SMA) as support. This will be the key to creating bullish momentum that will push the BTC price up to $64,000.
The 20-week SMA, coupled with the 21-week exponential moving average (EMA), is what Cowen calls the "bull market support band." In his view, it is crucial for bitcoin to stay above this band, as history shows that BTC tends to break through the first time it is retested.

- According to 99Bitcoins statistics, bitcoin was predicted to pass out 37 times in 2021. Interestingly, this amount is 2.65 times higher than in 2020, during which BTC ?passed away? only 14 times.
This site has acted as the official repository for all bitcoin obituaries since 2010, with precise criteria for selecting such publications. In particular, the content selection takes into account whether the article mentions the uselessness of bitcoin both at present and in the future. In addition, the source resource, its traffic, and the credibility of the person who owns the words about the demise of the main cryptocurrency are taken into account.
The last registered obituary dates from September 21, 2021 and was written by renowned economist Steve Hanke of Johns Hopkins University, who stated that bitcoin is a highly speculative zero-value asset. ?Bitcoin's volatility is its Achilles heel and the reason why it will never become a reliable unit of account or currency. Bitcoin is nothing more than a speculative asset with a fundamental value equal to zero,? Hanke's obituary reads.


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#49 - September 29, 2021, 03:41:19 PM

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CryptoNews of the Week

CryptoNews of the Week by NordFX in General Cryptocurrency Discussion_5WN9mQ4

- The United States will hold a meeting with representatives from 30 countries to jointly fight cybercrime and the illegal use of cryptocurrencies, US President Joe Biden said. It is not specified which specific states are in question.
The Biden administration has identified tracking cryptocurrency transactions as a possible option to combat ransomware. This happened after several cyberattacks on major US companies.

- ESET has released a list of countries with the highest rate of cryptocurrency related cyber threats. Russia comes first, accounting for 10% of all cases detected. Peru comes second with 6.8% of threats, third is the United States responsible for 5.3% of threats.
At the same time, the total number of cryptocurrency threats detected by ESET has decreased by 23.6%. Experts have noticed that this dynamic is directly linked to cryptocurrency prices: the threats have decreased significantly since the collapse of the quotes last May. 
In addition to mining malware, cryptocurrency investment fraud schemes are gaining popularity, where scammers lure their victims to fake investment sites or impersonate governmental bodies or celebrities.
Victims of such schemes lost at least $80 million from October 2020 to May 2021, according to the Federal Trade Commission of the United States. Meanwhile, according to Chainalysis, the financial pyramid Finiko with Russian roots alone collected $800 million worth of cryptocurrency from Eastern Europeans.

- Well-known Canadian entrepreneur, investor and TV show host Kevin O'Leary said that he now has more cryptocurrency in his portfolio than gold. ?Gold takes 5% in my portfolio and cryptocurrency has bypassed it for the first time. But this does not mean that I will sell all the gold, since I do not see the point in this yet. The crypto sector offers not only speculation on the BTC rate now, but there are many other ways to invest as well. And I plan to become an investor in this field.?
Cryptocurrencies currently account for 7% of his portfolio, O'Leary said. At the same time, he said that while gold and bitcoin are often opposed, having both assets in your portfolio is a good idea.

- Chivo public cryptocurrency wallet users in El Salvador will receive a discount on their car fuel if they pay in bitcoin. The announcement was made by the country's president, Nayib Bukele.
?State-owned Chivo negotiated with major fuel companies to sell every gallon of gasoline through a crypto wallet for $0.20 cheaper from October 1," he wrote. According to Bukele, the measure ?reverses several increases in global fuel prices.?
Users expressed their doubts about the usefulness of such a step in their comments: ?These 20 cents will come from all of us, right? The filling stations will not lose, they will be reimbursed from the taxes we paid, including the taxes of those who walk. "

- Former CIA and US National Security Agency official Edward Snowden, who escaped to Russia, said the Chinese government's crackdown on the cryptocurrency industry ?has only strengthened bitcoin."
Snowden recalled his own entry from March 2020 about the desire to buy the first cryptocurrency and noted the tenfold growth of the asset since then. ?It [bitcoin] has grown about tenfold since then, despite a coordinated global campaign by governments to undermine public understanding and support of cryptocurrencies,? wrote the former special agent.

- Chief strategist at CoinShares Meltem Demirors investment company said in a comment to CNBC that the rate of the first cryptocurrency will soar to $100,000 by the end of 2021. A lot of cash remains untapped, she said, so investors plan to include digital gold in their portfolio.
She also named the buy-on-rumor, sell-on-fact model as one of the catalysts for price changes in the first cryptocurrency. ?We are now seeing a lot of hype around the potential approval of the Bitcoin ETF,? explained Demirors. She said ?certain movements? on long-term options with six-digit figures will begin at the end of Q4 2021 and early Q1 2022.

- Anthony Pompliano, an avid bitcoin supporter and co-founder of the Morgan Creek Digital venture capital firm, has identified the most serious risks to the coin's growth. ?Unlike the sentiments of bitcoin supporters, it will not turn into a currency, which means its market will be quite limited. The maximum for bitcoin is the capitalization of gold, which is essentially a store of value. Bitcoin is not used for day-to-day shopping, and while its upside potential may be slightly higher, it is still limited. "
Pompliano also highlighted several factors that may have undesirable consequences for the main cryptocurrency: ?It may be revealed who Satoshi is and if it turns out he is not a very good person, this could have a negative impact on bitcoin itself. In addition, no one uses it for specific purposes, such as making international payments, as it is slow and expensive. There is also an option that governments will decide to tighten measures against bitcoin in the future, for example, they will begin to regulate it, impose heavy taxes or even ban and outlaw it. "
A particular risk, according to Pompliano, is that ?bitcoin is still in development. It is still being updated, and although the process includes many filters, security checks and more, there may be a bug in the code that is introduced that will cost a lot.?

- Most of the surveyed cryptocurrency investors from Africa stated that their main motivation is to ensure their family well-being. According to Luno's research, almost half (48%) of respondents are willing to save and invest their salary in cryptocurrencies to pay for their children's education, while 43% are willing to create a starter capital for children and grandchildren, 39% for saving.

- Galaxy Digital crypto bank founder Mike Novogratz told CNN that bitcoin will make fundamental changes to the financial system. He has also urged investors not to pay attention to the volatility of digital gold, but to look at the big picture of the market. ?Bubbles and manias are happening around things that change our thinking fundamentally,? Novogratz stressed.
According to the banker, cryptocurrency investors are not just interested in profit, they believe in fundamental changes in the financial system, and the growing interest in bitcoin is associated with the underlying technology.
The head of Galaxy Digital predicted the price of bitcoin to rise to $500,000 in ten years. He believes that 75% of altcoins will disappear from the market over the same period.


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#50 - October 05, 2021, 02:21:21 PM

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CryptoNews of the Week

CryptoNews of the Week by NordFX in General Cryptocurrency Discussion_zQ5lP8Z

- Financial giant JPMorgan CEO Jamie Dimon has previously repeatedly criticized cryptocurrencies, promised to fire employees trading digital assets, and called bitcoin holders fools. And now, according to Bloomberg, he smothered the first cryptocurrency to smithereens once again, but admitted that the customers of his holding believe otherwise.
?I personally think bitcoin is worth nothing,? Dimon said at the Institute of International Finance's annual meeting. ?But our clients are adults and they don't agree. This is what creates markets. Therefore, if they want to be able to buy BTC, we can provide them with legal and transparent access.?
At the same time, he added that cryptocurrencies will be subject to regulation as concerns grow in Washington regarding stablecoins and the new asset class in general.

- Co-founder of venture capital firm Morgan Creek Digital, Anthony Pompliano, revealed that YouTube removed his channel on the evening of October 11 while on air with popular blogger PlanB. According to Pompliano, this came after discussions about a bullish scenario for bitcoin for the next five years. He later published screenshots of emails from the service, which described the content about the first cryptocurrency as ?dangerous and harmful.? Video hosting representatives felt that the channel's creators were allegedly ?encouraging illegal activities.?
Pompliano said about two hours later that the YouTube channel had been restored, though "without any explanation from the company."

- 26 Israelis were detained in Tel Aviv on October 5, during a joint operation by the US Federal Bureau of Investigation and the Israeli Police on suspicion of involvement in organized financial fraud in the field of Forex and crypto. And just a week later, all 26 were released, without any special conditions of release.
As previously stated in an official statement by the Israeli police, the detainees provided false brokerage services to clients around the world, thus embezzling $7 million. Users were promised access to forex or cryptocurrency trading, which in reality did not take place, and funds were simply appropriated by the scheme organizers.
And now all the detainees, without exception, were released after a court hearing. Moreover, lawyers for earlier suspects are preparing countersuits against the nation's law enforcement agencies. However, there are reports that two more new crypto-fraud cases involving Israeli citizens are being investigated in the neighboring country of Cyprus.

- Ethereum creator Vitalik Buterin criticized El Salvador's decision to recognize bitcoin as the official currency. He stressed that the process of forcibly integrating digital assets into the financial system ?runs counter to the ideals of freedom that should be appreciated by members of the cryptocurrency community. In addition, the tactic of simultaneously distributing BTC to millions of El Salvadorians with little or no prior training is reckless and fraught with the risk of large numbers of innocent people being hacked or tricked. "
?Shame on everyone (okay, I'll name the main culprits: shame on bitcoin maximalists) who praise him [President Nayib Bukele] without any criticism,? Buterin wrote on Reddit.

- Legendary billionaire investor and founder of Miller Value Partners, Bill Miller, called bitcoin digital gold and compared his bet on it to buying Amazon stock during the dot-com bubble crash. According to the billionaire, he acquired shares of the tech giant Amazon at an average price of $17 more than 20 years ago. The first cryptocurrency cost him an average of $500 per coin.
?Bitcoin is much less risky at $43,000 than at $300. Now it is recognized, a huge amount of venture capital has gone into it, all the big banks are involved,? Miller said. However, the billionaire advised investors who are not too deeply versed in cryptocurrency to invest no more than 1% of funds in digital assets. Regarding altcoins, Miller noted that the chances of succeeding with more than ?10,000 existing tokens and other? are extremely small,? although ?Bitcoin, Ethereum, and some other coins will probably exist for a while.?

- Research Institute Capgemini conducted a survey around the world to analyze the current payment situation. In addition, the statistics of the Bank for International Settlements, the European Central Bank, the International Monetary Fund, the World Bank and other central banks were studied.
Capgemini noted that less than 10% of consumers currently use cryptocurrency for payments. However, the research institute predicts that nearly 45% of customers will use this new payment method in one to two years. This trend will be supported by the growing demand for international payments and the reluctance to pay high transaction fees. Cryptocurrency credit cards will become more widespread. At the same time, the researchers concluded that the prospects for cryptocurrencies and stablecoins are vague, due to the ambiguous position of governments around the world.

- According to Coinmarketcap data, Apple Corporation currently has the largest capitalization ($2.34 trillion), followed by Microsoft, Google, Amazon, and bitcoin is in fifth place. If you look at the statistics, the total capitalization of the stock market is currently about $100 trillion, the capitalization of the gold market is around $12 trillion, the total capitalization of the cryptocurrency market has exceeded $2 trillion, and the capitalization of BTC is already $1 trillion.
What can the above statistics indicate? According to the authors of the publication in Freedman Club Crypto News, only that the flagship cryptocurrency has the potential to not only bypass corporations in terms of capitalization, but also entire sectors of the world economy.

- The Swiss non-profit think tank 2B4CH has proposed making bitcoin one of the reserve assets of the Bank of Switzerland and reflecting this in the country's Constitution.
2B4CH was founded in Geneva in 2017. It conducts research on how cryptocurrencies and blockchain can affect society, and what changes they can bring to the financial sector. And now 2B4CH has announced on Twitter the launch of a ?popular initiative? aimed at collecting 100,000 signatures to amend Article 99, paragraph 3, of the Swiss Constitution. In particular, 2B4CH proposes that the Central Bank of that country should be able to store bitcoin as a reserve asset alongside gold. And in case of successful implementation of the initiative, Switzerland, according to the organizers of the plebiscite, will become a good example for other countries.

- An employee of the US Navy and his wife were arrested on suspicion of selling classified data for cryptocurrency. This is reported on the website of the American Ministry of Justice. According to authorities, nuclear engineer Jonathan Toebbe sold information about the design of American nuclear submarines with the help of his wife, allegedly to a representative of a foreign country. The latter turned out to be an undercover FBI agent.
The agent sent Toebbe $10,000 in cryptocurrency in June (according to CoinDesk, Monero). After receiving the payment, the couple hid the secret SD card inside the peanut butter sandwich in a pre-arranged location. The agent then sent them another $20,000.
Toebbe hid another SD card in a gum box in August, receiving $70,000 for the decryption key. And more recently, in October, the engineer made another cache with another map containing data on submarines, after which he and his wife were arrested.

- American Crypto Exchange Kraken experts believe that the price of the flagship asset could reach $100,000 by the end of 2021. Based on the analysis of the dynamics of previous years, a calculation was made, according to which, the price of bitcoin tends to grow during the fourth quarter of any year. During this period, "the average and median returns reached +119% and +58%, respectively." If the average return of the previous 2020 year recurs, BTC could end the year close to $100,000. More precisely, around $96,000. However, if we see not the average, but the median profitability, experts write, then the price of bitcoin will rise to about $70,000.


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#51 - October 13, 2021, 03:44:08 PM

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CryptoNews of the Week

CryptoNews of the Week by NordFX in General Cryptocurrency Discussion_Wfssejz

- Scammers launched a series of fake broadcasts on YouTube on the evening of October 18, a few hours before the official start of the Apple Unleashed press conference, in which they invited users to take part in the distribution of cryptocurrencies. Viewers were encouraged to send 0.1 BTC to 5 BTC or 3 ETH to 500 ETH to the specified wallet and allegedly get back the double amount of the cryptocurrencies. The fake stream was carried out on a channel that completely copied the Apple's account, which resulted in one of the fake presentations gathering about 30,000 participants.
Scammers often use YouTube to promote fake cryptocurrency giveaways. As a reminder, Apple co-founder Steve Wozniak already joined a class action against YouTube and Google in July 2020 over malicious actions, but the court found that the platform did not carry liability for materials posted by third parties.

- The founder of the Brazilian crypto exchange Foxbit, Joao Canhada, acquired 1 BTC for his daughter on the day of her birth, Cointelegraph tells the family story. ?I bought bitcoin for her not just as a gift, but as a way to invest in the new economy. At that time, it was estimated at 5,000 Brazilian reais (about $915),? admits the perspicacious father. After just four years, bitcoin has climbed to $63,000 and the investment has generated a 6,800% return. Now we can only guess what the profit will be when the girl comes of age.

- American software architect and entrepreneur Jack Dorsey revealed that payment giant Square is considering creating a device to mine the first open-source cryptocurrency.
In Dorsey's view, mining should be easier and more accessible to everyone in order to improve the resilience of the bitcoin network. The equipment supply is currently concentrated in just a few companies. For this reason, the creator of Square and Twitter is thinking about removing barriers for miners.

- The city of North Vancouver in the Canadian province of British Columbia expects to provide heat to the city's residential and industrial buildings by mining bitcoin from 2022.
Municipal energy company Lonsdale Energy Corporation has entered into an agreement with mining firm MintGreen to provide a new carbon-free source of energy for the district heating system instead of burning natural gas. According to the press release, the immersion-cooled cryptocurrency mining rigs convert over 95% of the electricity consumed into heat, which can be used for heating and industrial processes.
?Cryptocurrency miners operate at full capacity 365 days a year, creating a unique opportunity to provide a reliable and sustainable base load for the North Vancouver district heating system,? the statement said. Per 1 MW, the use of mining will prevent up to 20,000 tons of greenhouse gases from entering the atmosphere.

- Scion Capital hedge fund founder Michael Burry, who predicted the 2007 mortgage crisis, has repeatedly criticized cryptocurrencies, calling the digital asset market an economic bubble. And now he is exploring the possibility of opening a short position in cryptocurrency. This short-run specialist asked his Twitter followers how to do this.
?Okay, I haven't done this before, how can you short on cryptocurrency? Do you need to secure a loan? Is there a short rebate? Can there be a margin call? ?, Michael Berry wondered.

- A favorable macroeconomic environment, good network performance and the approval of bitcoin ETFs in the US will help BTC hit new all-time highs this quarter, according to a Finder poll of 50 fintech industry experts.
The survey was attended by representatives of Cypherpunk Holdings, Bitcoin Reserve, Kraken, Arcane and CryptoQuant, as well as 7 professors from universities in Asia, Europe and Australia. According to them, the BTC exchange rate will peak at slightly above $80,000 over the next two months, and the flagship cryptocurrency will finish the year around $71,400.
The levels indicated by these experts were well below the forecasts of Standard Chartered and Bloomberg analysts, who believe bitcoin could exceed $100,000 this year.

- The pace of institutional participation in BTC has accelerated over the past 5 weeks, which is an important sign of the bull market return. According to popular crypto analyst Willy Woo, the next phase of the bitcoin market will be more volatile than previous bullish periods, implying a longer time frame for the current cycle.
This analyst wrote in a series of Twitter posts a year ago that, according to his model, $200,000 per bitcoin by the end of 2021 is a conservative forecast. However, he did not exclude the likelihood that BTC will soar up to $300,000.

- Morgan Creek Capital Management CEO Mark Jusko calls the numbers like Willie Woo's predictions. He suggests that the price of the oldest cryptocurrency could soar to the level of $250,000, only to happen not in 2021, but in the next 5 years. In doing so, he acknowledged that the path to such a peak may not be easy.
Yusko repeated his prediction In another interview with CNBC. He also praised the main crypto asset as superior to gold due to its fixed supply of 21 million coins. ?This is a classic supply and demand option. One of the nice things about bitcoin as an asset is that it has a limited supply. We know how many bitcoins will be mined every day for the next 140 years."
By the time BTC reaches the $250,000 mark, Jusko says, its market cap will be equal to that of gold.

- One of the first bitcoin investors, billionaire and CEO of venture capital firm Social Capital, Chamat Palihapitiya, believes that the United States will no longer be able to ban bitcoin and the rest of the cryptocurrency. In his view, the cryptocurrency market has become too big for US authorities to stifle the emerging industry:
?You can't just take the $2 trillion capitalization off the face of the earth,? Palihapitiya wrote. ?Bitcoin is not going anywhere and is currently too institutionalized. There are already quite a few organized pools of capital within this ecosystem.
I can give an example of a simple high-frequency trading by Jump Trading. They posted several photos of a group of hired newbies and a tutorial on programming in Solana. It was an example of bringing people on their part. Therefore, when there are people with big finance and they are ready to invest money in it, the capitalization of the crypto market will grow to $6 trillion, and then to $10 trillion. This is why Powell and Gensler had to voice that they are not going to ban cryptocurrencies. In fact, they know it is impossible. "
As a reminder, Fed Chairman Jerome Powell said in early October that he had no plans to ban cryptocurrencies. A few days later, SEC chief Gary Gensler practically repeated those words. And it was last Thursday that Senator Cynthia Lammis spoke in the Senate, saying that digital currencies could help countries like the United States cope with an impending crisis when the state runs out of cash. ?Thank God for bitcoin, another non-fiat currency that surpasses the irresponsibility of governments, including our own,? exclaimed Ms Senator from a high rostrum.

- Over 99% of bitcoins in circulation bring profit to their holders. This is the conclusion reached by Glassnode analysts. According to the published chart, only 0.98% of the coins (about 186.000 BTC) were bought at a price above $59.000. At the same time, open interest in bitcoin options has risen sharply to the levels of last May-April. The increase from September was +107% (from $6.3 billion to $12.2 billion). Glassnode experts also revealed that nearly $325 million is put on bitcoin's growth to $200,000 by the end of the year.
As for the leading altcoin, according to Glassnode, the number of Ethereum investors holding at least 1 ETH in their crypto wallets has renewed its all-time high, reaching 1.34 million addresses. There were just over 1 million of them at the beginning of the year. In total, the Ethereum network has processed transactions worth more than $6.2 trillion over the past 12 months, 369% more than in 2020.

- The mysterious creator of the bitcoin network, Satoshi Nakamoto, was included In mid-April in the list of the 20 richest people on the planet, but his fortune decreased dramatically after the fall in the price of BTC. However, Nakamoto regained the lost ground this week after the price of the first cryptocurrency topped $60,000.
It is generally believed among crypto experts that Nakamoto has about 1 million bitcoins, some call a smaller figure, some larger. The Whale Alert report calls the figure of 1.125 million BTC. Thus, as of october 17, 2021, Nakamoto owns approximately $60.7 billion in Bitcoin (BTC), $625 million in Bitcoin cash (BCH), $169 million in Bitcoinsv (BSV), and $191 million in Ecash (formerly known as BCHA or Bitcoin ABC). In total, this amounts to $60.9 billion.


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#52 - October 20, 2021, 02:59:04 PM

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CryptoNews of the Week

CryptoNews of the Week by NordFX in General Cryptocurrency Discussion_iczB6t8

- Investors committed a record $1.47 billion to crypto funds during the week of October 16-22, and $8 billion since the beginning of the year. Such data is contained in the CoinShares report. The previous record of $670 million was set in February. Amid the digital gold's historical high above $67,000, the total amount of funds in cryptocurrency based financial products reached $79.2 billion during the week. Analysts attributed this dynamic to the successful launch in the US of two Bitcoin ETFs from ProShares and Valkyrie Investments.
As a result, inflows to bitcoin-based funds totaled $1.45 billion, Solana, Cardano, Binance Coin totaled $8.1 million, $5.3 million and $1.8 million, respectively. At the same time, the outflow of funds from ethereum products has continued for the third week, totaling $1.4 million.

- US Senator Rand Paul called fiat money "unreliable" and expressed optimism about the prospects for cryptocurrencies in the global financial system. ?Public money is so unreliable! I began to wonder if cryptocurrency could serve as the world's money as more people lose confidence in the government,? he said.
Reporters note that this kind of message made Rand Paul "a rock star in the eyes of young people" during the 2016 presidential campaign. It was notable for the fact that the Kentucky senator accepted bitcoin donates.

- Several email providers were subjected to DDoS attacks, for the termination of which unknown persons demanded a ransom in bitcoins. Representatives of the Posteo email service confirmed the information. ?But we will not pay the specified amount,? Posteo said in a statement. ?Companies should not allow criminals to blackmail them under any circumstances. Otherwise, they will be even more attractive to them.?
The RunBox service also announced the attack later. And they also clarified that "they have never paid the criminals" and do not plan to start." In addition to email providers, UK VoIP telephony provider Voipfone and game server provider Sparked were also targeted by DDoS attacks.

- Payment giant Mastercard will soon announce support for cryptocurrencies in its network. CNBC reports. This includes bitcoin wallets, credit and debit cards, and loyalty programs where points can be converted into digital assets. According to Mastercard Executive Vice President of Digital Partnerships Sherry Haymond, the initiative will allow banks to compete with cryptocurrency exchanges.

- Crypto trader and analyst known as Altcoin Sherpa is confident that bitcoin should bounce off the $54,000-58,000 zone where strong support is located, and renew its all-time high, exceeding $80,000, in November.
Another well-known analyst, PlanB, also expects a parabolic rise in the price of bitcoin. As a reminder, PlanB is the creator of the Stock-to-Flow (S2F) model, which predicts the price of the flagship cryptocurrency, and which allowed it to accurately predict BTC prices in August and September. And if bitcoin continues to follow this pattern, ?we'll be out $98,000 as early as November and $135,000 in December,? PlanB said. ?So, it's going to be a really good Christmas this year.? At the same time, the analyst believes that the flagship cryptocurrency is unlikely to be able to avoid another major correction that historically follows each major bull cycle.

- 150 people have been arrested worldwide as a result of a global special operation against illegal trading on the DarkMarket Internet platform. Law enforcement agencies from nine countries participated in Operation Dark HunTOR. It is one of the most large-scale investigations in Europol's history, assisted by U.S. authorities. Some $31 million in cash and bitcoins, 234 kilograms of drugs and 45 weapons were seized. Moreover, 67 people have been arrested in the US, 47 in Germany, 24 in the UK. Many of the detainees, Europol said, were targets of particular importance.
Europol says the investigation was a follow-up to a raid by German police against the DarkMarket platform, which was operated by an Australian citizen. Moreover, as part of the same operation, several other illegal trading platforms have been shut down in Italy, four administrators have been arrested and ?3.6 million in cryptocurrency seized.

- The American company Walmart Inc., which operates the world's largest wholesale and retail chain, has launched a pilot program to sell bitcoins. Bloomberg reports that the pilot project includes 200 Coinstar ATMs at Walmart stores in the United States. Cryptocurrency will be available in more than 8,000 of these bitcoin ATMs in future. The commission will be 4% when buying BTC and 7% when cashing out.

- Russian insurance company Renaissance Life and InDeFi SmartBank have started jointly developing smart contracts to help inherit digital assets. With the growth of the cryptocurrency market, the problem of inheriting such property has become quite acute. Since cryptocurrencies are decentralized, in the event of the death of the owner, the heirs simply cannot dispose of the property of the deceased without access to the cryptocurrency wallet.
Special smart contracts will enable the client to transfer the disposal of their digital assets to the beneficiary in the event of their death.
The service is expected to have at least 500,000 users in the coming year.

- Popular cryptanalyst and trader Lark Davis believes that ?the next six months are likely to be mega-crazy for bitcoin and cryptocurrencies! Many of you will get the chance to completely change your financial destiny,? he tweeted.
Davis does not advise investors to get carried away with speculative altcoins and NFTs in the current situation, but to bet on time-tested coins. ?Let the winners win, double and even triple your positions and cut the losers. Do it mercilessly, there is no point in keeping dubious assets,? writes Lark Davis.
In his view, BTC could increase investor savings by 20 times over the next 10 years, but individual altcoins could generate comparable returns much sooner. ?Altcoins are for making money, BTC is for storage,? the expert explains.

- Former Facebook manager Frances Hogan, who made accusations against this corporation, said that investing in cryptocurrencies allows her not to worry about her financial situation. 'As for the foreseeable future, I'm fine. I bought cryptocurrencies at the right time,? she told The New York Times, noting that she moved to Puerto Rico not only to improve her own health, but also to join her ?crypto friends?.
Recall that Hogan turned over tens of thousands of internal Facebook documents to journalists and the U.S. Securities and Exchange Commission. Among other things, she accused the company of inciting hatred and ignoring teen safety issues. ?I have come across a lot of social networks, but Facebook was doing much worse than the rest,? she said. - On Facebook, I have seen conflicts of interest between the public and the corporation over and over again. And Facebook has repeatedly chosen its interests, including to increase earnings."


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#53 - October 27, 2021, 04:43:35 PM

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CryptoNews of the Week

CryptoNews of the Week by NordFX in General Cryptocurrency Discussion_Lx1a81H

- Film director Quentin Tarantino will present a collection of seven NFTs (non-fungible token) based on the 1994 film Pulp Fiction. Each NFT contains an uncut movie scene and bonus content available only to the owner, including original handwritten pages of the script, Tarantino audio commentary and other details about the movie and the director. The auction will be held on the OpenSea trading platform and will be announced later.
NFT is a non-fungible unique token. NFTs work on the blockchain, they first appeared back in 2017 in the Ethereum system. Secret NFT technology allows content creators to decide which collectibles are public and which are private to owners.

- Burger King fast food chain will give away cryptocurrency prizes to visitors in the United States. The prize pool contains 20 BTC, 200 ETH and 2 million DOGE. it is required to spend more than $5 at Burger King to participate in the draw.

- As bitcoin's math and logic do not allow copying or forgery of the first cryptocurrency, it surpasses the US dollar. This was stated by Apple co-founder Steve Wozniak in a recent interview with Yahoo Finance. He also noted the decentralized nature of digital gold, which allows it to maintain a level of predictability that is difficult to achieve with the US dollar. In his opinion, regulators can create new paper notes on their whim, and therefore it is difficult to predict inflation.
?Look at the US dollar, the government can create new banknotes and borrow, it's like it will never be corrected. Bitcoin is mathematics, mathematical purity. Another bitcoin can never be created,? said Steve Wozniak.

- The author of the book ?Rich Dad Poor Dad?, writer and investor Robert Kiyosaki, like Steve Wozniak, has criticized the administration of President Joe Biden and has declared his distrust the US federal government. He believes that the authorities "rip off people", promote inflation and do not try to reduce it.
?Inflation undermines the income of the poor. Inflation makes the rich richer. Biden and the feds are corrupt. Get ready for an economic collapse and a new depression. Be smart. Buy gold, silver and bitcoin,? said Kiyosaki, who has always been very enthusiastic about bitcoin. ?I love bitcoin because I don?t trust the Fed, the Treasury or Wall Street,? this investor said.

- The development team does not stop working on improving the Ethereum network, which inspires experts to make the most daring price predictions. So a reputable cryptanalyst known as CryptosRUs predicts that ETH will soon reach $10,000. Moreover, he is confident that now is almost the last opportunity to purchase ETH at a price below this mark.
Among the reasons for the increase in the price of this altcoin, we can consider the recent activation of the London hard fork. In addition, thanks to the latest Ethereum Altair update, a new all-time high of almost $4,500 was set on October 29. However, after this update, network fees have almost doubled, which cannot be considered a factor accompanying the growth of ETH.

- Cryptotrader hamster Mr. Goxx has its own collection of non-fungible tokens (NFT) called Goxx Capital. The tokens are made in the form of animated insert cards.
With NFT sales, the ?business partner? (aka owner) of the hamster plans to assemble a new ?trade office? for his pet. According to him, the updated workspace will expand the functionality for the hamster's activities, as well as provide more interactive elements for the so-called "wheel of intentions" and "decision tunnels".
Recall that the trading process boils down to the following: Mr. Goxx spins the wheel of intentions, on the basis of which one of 30 tokens is selected. Then the hamster must run through one of two decision-making tunnels: to buy or to sell a token. Mr.Goxx showed a profit of almost 50% in early September. Bitcoin, for example, was only 41% higher, the S&P 500 brought 6-7% to investors, and the Katie Wood ARK Innovation fund was 5%.

- The high price of bitcoin indicates that the economy is facing real inflation, and the rise in prices is not a temporary phenomenon. This opinion was expressed by PayPal co-founder Peter Thiel, Bloomberg writes. ?You know, bitcoin is already worth $60,000 and I'm not sure it should be bought aggressively. But, of course, this tells us that we are in a crisis moment," Thiel said and expressed regret once again that he had not invested more money in the first cryptocurrency.

- It was 13 years ago, on October 31, 2008, that a person or a group of people known as Satoshi Nakamoto published the bitcoin white paper. The nine-page whitepaper described how the peer-to-peer payment system worked that would revolutionize the financial technology world. Nakamoto summarized the main characteristics of the first cryptocurrency in the foreword to this document: ?A fully peer-to-peer version of electronic money would allow sending online payments directly from one side to the other, bypassing financial institutions.?
The bitcoin network was launched in January 2009. Satoshi Nakamoto disappeared in April 2011, and the public was never able to find out who wrote these 9 pages, which marked the beginning of a multi-billion-dollar industry.

- Chinese crypto analyst Willie Woo said in an interview with Bitcoin Fundamentals that the current ?bullish? growth cycle for bitcoin is very different from previous similar periods. Woo noted that the latest wave of BTC accumulation began at the end of last year, when institutional investors began to enter the crypto market, aiming at the long-term accumulation of digital assets. This factor indicates that the current growth cycle will be longer, will continue for another six months to a year, and the price of bitcoin during this period will exceed $100,000, Woo predicts.

- TV presenter, best-selling author and former hedge fund manager Jim Cramer said during the Mad Money program on CNBC that he supports investors buying cryptocurrencies if they are aware of the risks associated with this asset class.
According to him, all the arguments in favour of cryptocurrencies are based on the ?theory of a greater fool?, according to which there is always someone who is ready to buy an asset for a higher price, expecting to quickly resell it at a profit to someone else. However, when the "fools" are no longer found, the value of assets drops sharply. If people understand this, why not speculate in cryptocurrencies, Kramer said.
?I bought bitcoin and ethereum not for protection from inflation,? the TV presenter admitted. - To be honest, it was a kind of gambling for me. I was just playing on the psychology of the crowd, and I have no idea why the rate of these crypto assets went up. Most likely, there are a lot of overly enthusiastic people who want to sell them for a higher price. I have no attachment to ethereum, but I keep it, because millions of even bigger fools can buy it,? Kramer said.
Previously, he preferred to invest in gold and stocks, but now he believes that it is important to diversify the investment portfolio, 5% of which can be bitcoin or ethereum.

- Investors should invest in hedge funds and real estate, as traditional assets, including stocks and bonds, will lag behind them in the next year and will show a return of only 5%, according to analysts at JPMorgan Chase.
Cryptocurrencies can continue to grow, but are unlikely to be stable, so they cannot be recommended as a key asset, JPMorgan says. At the same time, the growth of cryptocurrencies is projected at 15% per annum, which is twice the expectations from hedge funds and exceeds the real estate sector with 12.5%.
As for bitcoin, analysts estimate its fair value at $35,000. They came to such an assessment based on a comparison with gold, noting that the volatility of the cryptocurrency is about 4 times higher than that of the precious metal. If the BTC volatility drops by half, the $73,000 target will ?look reasonable?.


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#54 - November 03, 2021, 02:36:28 PM

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CryptoNews of the Week

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- Bitcoin updated its all-time high, reaching $68,420 on Tuesday, November 9. Ethereum also set a record, rising to $4,830. The total capitalization of the crypto market at the maximum reached $2.947 trillion. Analysts attribute the current rally to the lack of supply amid increasing global interest in digital assets.

- The value of any asset can collapse at any moment, so it is not only cryptocurrencies that are in the bubble. This opinion was expressed at the Boston conference by billionaire Stanley Druckenmiller. ?Cryptocurrencies, meme stocks, art, wine, securities [...] This bubble is in everything, every asset on the planet,? he said. At the same time, Druckenmiller noted that the current situation in the cryptocurrency market is not like the dot-com bubble, which, according to him, had covered significantly fewer people than the digital asset industry today.
Earlier, the famous American investor Bill Miller said that bitcoin is not a bubble, but the asset's volatility is a payment for its advantages.

- Newly elected Mayor of New York Eric Adams called in a CNN commentary on local schools to prepare students for a ?new way of thinking? related to blockchain technology and digital assets. The politician noted the low awareness of young voters on this subject: ?When I talked about blockchain and bitcoin, young people stopped me and asked me, 'What is this?? Adams called digital assets being "a new way of paying for goods and services around the world" as an argument for including this topic in curricula.
New York must remain a hub for innovation, he said. To this end, the newly elected mayor also plans to oblige local businesses to accept BTC and other cryptocurrencies as a payment method. In addition, he promised to receive his first three paychecks in bitcoin.

- Rahul Rai, manager of the BlockTower Capital cryptocurrency fund, believes that the versatility of the ethereum blockchain will be the main factor that will attract both developers and investors. He is confident that if ethereum manages to restart the global financial system, its market will be much larger than that of bitcoin in the future. The crypto millionaire predicts that, ETH is likely to become the first cryptocurrency in terms of capitalization which could reach several trillion dollars, as early as in mid-2022.
Analysts of the American investment bank JPMorgan made a similar statement in April. In their opinion, bitcoin is a consumer commodity. It can compete with precious metals and be seen as a store of value, but it will give way to ethereum in the long run, which is the pillar of the cryptocurrency economy.

- Apple CEO Tim Cook said he owns cryptocurrencies, using them to diversify his investment portfolio. According to him, he was interested in digital assets "for a while" and researched this topic. At the same time, the CEO of Apple emphasized that the corporation he heads is not going to invest in these financial instruments and does not plan to launch related services or integrate them as an option for paying for its goods or services.
Tim Cook noted that "there are other things that Apple is definitely looking at." It is still unknown what these words can mean. However, it was in May that the corporation opened a vacancy for a business development manager with five years of experience in the cryptocurrency industry, who is to lead the affiliate program in the segment of "alternative payments".

- Swedish regulators believe that mining bitcoin and other cryptocurrencies using the Prоf-оf-Wоrk algorithm will prevent the country and the European Union from complying with the Paris Agreement on climate change. Officials noted that this process leads to the emission of up to 120 million tons of CO2 into the atmosphere per year. This is equivalent to the carbon footprint of 100 million round-trip flights between Sweden and Thailand.
Regulators have called for a ban on the mining of digital assets in such an energy-intensive manner. At the same time, they believe that the use of renewable energy for mining is unreasonable, since "this energy is urgently needed for [...] large-scale production of batteries and the electrification of the transport sector." According to the University of Cambridge, the electricity used to mine 1 bitcoin is enough to drive 1.8 million kilometers in a medium-sized electric vehicle.

- ?Purely bullish? sentiment reigns among retail investors regarding bitcoin. This is reported by the analytical resource Santiment with reference to the off-chain BTC indicators. This rarely plays into the hands of cryptocurrencies, analysts say.
The market, according to Santiment, has formed an ?irrational trust? in bitcoin, which can lead to a price correction.
Retail traders are excited about the potential of bitcoin. As for the "bitcoin whales", the situation here is not so straightforward. On the one hand, the total volume of coins on addresses with balances of 100-10,000 BTC has decreased by almost 60,000 BTC over the past 10 days. On the other hand, it has grown significantly on addresses with balances of more than 10,000 BTС. According to experts, this may indicate that large whales are buying coins from smaller ones.

- Investment banking giant Morgan Stanley created a cryptocurrency analytics division in September. And now it has published a guide to the cryptocurrency market for its wealthiest clients. The bank's strategists conducted a detailed analysis of the various activities, sectors and trends that currently make up the highly speculative crypto industry.
Given that the total market capitalization has exceeded $2.8 trillion, and investors are increasingly interested in DеFi, NFT and stablecoins, Morgan Stanley is convinced that this will accelerate the introduction of state regulation in this area.
Morgan Stanley launched three bitcoin funds earlier this year. The minimum deposit required to participate in them is $5 million for institutional investors and $2 million for individuals.

- The top of bitcoin's current bull cycle may be the price of $96,000. This conclusion was reached by analysts of the Kraken crypto exchange. According to their research, the current Q4 has dynamics most similar to the Q4 of 2017 (correlation 0.88), which showed a yield of +220%. In general, cryptocurrency exchange experts predict that BTC will reach heights around $300,000.
The review published by Kraken also notes that November has historically been volatile, which brings the highest monthly returns. If bitcoin's current rally stops at strong resistance around $70,000, a correction can be expected. However, the drop will be no more than 20%.

- Assessing the price of the main cryptocurrency, analyst Willie Woo came to the conclusion that the zone from $50,000 to $60,000 is more than reliable as a support. Bitcoin has secured a capitalization of $1 trillion, and it is difficult to imagine that it will fall below this zone, the expert commented, referring to data from the analytical company Glassnode.

- According to a cryptocurrency analyst known as Altcoin Shеrpa, altcoins will not show the expected high results in the near future due to the bullish exchange rate movement of BTC. ?Pay attention to the drop in altcoin/BTC pairs if bitcoin starts moving,? he writes. "I believe that the altcoin season has not yet arrived. They will have time to prove themselves, but after the bitcoin rally cools down."
The analyst noted that bitcoin has formed a higher low of around $60,000, and while there is a possibility of a short-term decline, he expects the asset to grow significantly from current levels: ?There is possibility of a short trip to $55,000. But I don't care about these minor movements. I continue to accumulate BTС, and when it starts moving, it will be fast. "

- Crypto strategist Benjamin Cowen, on the other hand, believes that bitcoin will not please its supporters with explosive growth. ?We started with about $28,000 to $29,000 and this was the start of 2021,?? writes Cowen. ?What have we seen so far? Not much, right? Will it be possible to show better results by the end of the year? Maybe, but I'm not sure that 2021 will be the year of a parabolic rally for bitcoin."
While the distance between the low and high of the annual range may seem significant, Cowen noted that bitcoin holders are unlikely to be thrilled with such profits: ?Look what happened to bitcoin in 2021: nothing special. The profitability was about 130%, and I am sure that most holders will not even get up from the couch for 130%." "We have returned to the top of the range, so there may be some euphoria, as it was from January to March 2021,? the expert continues to reason. - There are chances of a sharp leap, but the data shows that the cycle should last at least through 2022. Looking back to 2021, I think it was, for the most part, a year of long-term re-accumulation."

- A well-known cryptanalyst under the nickname PlanB said that bitcoin could rise by 700% in early 2022. ?If you look at the signals along the chain right now, I dare say that the price will reach the top in almost 6 months, this will be the end of Q1 of next year. - he thinks. - I believe that we will have a BTC rate of $100,000 at the end of the year, and then, perhaps, the currency will continue to grow up to model X (S2FX) and reach the level of $288,000, and possibly more. I would not be surprised if I saw the price rise to $400,000 - 500,000 in Q1 and Q2 of next year."
In the long term, PlanB sees BTC experiencing a hyperbolic surge.
?The old people have the money now. Real estate and gold are physical, not digital. Digital scarcity is a next generation phenomenon, so I'm sure it will happen. I see in my model (S2FX) that there is a linear relationship between scarcity and cost. Scarcity, in my opinion, is the most important factor causing this linear relationship and forcing people to invest more money."


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#55 - November 10, 2021, 03:09:07 PM

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- US President Joe Biden signed a bill to raise $1.2 trillion to upgrade infrastructure without amendments in favor of representatives of the crypto industry. The document contains an extended definition of the concept of ?broker?. Depending on the interpretation, miners, wallet developers, DeFi protocol liquidity providers and other digital market players may be required to report the activities of their users to the tax authorities. The crypto community is also concerned about another amendment to the infrastructure plan, which will oblige recipients of digital assets worth more than $10,000 to verify the sender's personal information.
The document has been repeatedly criticized by representatives of the crypto industry, including the head of Tesla Elon Musk and the founder of the payment company Square Jack Dorsey. Some senators believe that participants in the crypto industry should be excluded from this law. According to others, only miners and sellers of hardware and software should be exempt from reporting to the tax authorities.

- Investing Twitter's cash reserves in cryptocurrencies ?does not make sense right now?. This was stated by the financial director of the company Ned Segal. According to him, the social network prefers to invest in less volatile instruments, for example, securities. Earlier, Ned Segal reported that Twitter is exploring the possibility of using bitcoin, but this will require the company to make additional decisions.
As of the end of September, Twitter had $3.47 billion in cash and cash equivalents, as well as $3.94 billion in short-term investments.
Meanwhile, the payment company Square, founded by Twitter CEO Jack Dorsey, continues to hold the main cryptocurrency on its balance sheet. ?We have purchased bitcoin, and it seems to us that this not only demonstrates our interest but can also bring benefits from a financial point of view in the long term,? the Square said.

- Bitcoin will ?easily? reach a price of $500,000. This forecast was given by Anthony Scaramucci, founder of SkyBridge Capital investment company, referring to the limited issue of the first cryptocurrency and the potential number of rich investors in it. He noted that according to JPMorgan, there are at least 49 million dollar millionaires, but the supply of digital gold is limited to 21 million coins. ?You don?t have enough bitcoins for every millionaire in our society to have at least one coin,? Scaramucci said.
In his opinion, the current price level is still an early opportunity to enter the asset, and the price of the first cryptocurrency will reach the specified $500,000 mark by the end of 2024 or mid-2025. However, this requires that Ark Invest's forecast come true, according to which the number of bitcoin wallets should reach 1 billion by this time.

- The US authorities will sell the confiscated cryptocurrency for $56 million to pay the victims of the BitConnect pyramid. The Justice Department notes that this is ?the largest case of one-time recovery of losses from cryptocurrency fraud in the United States.?
The US Securities and Exchange Commission said in a statement that ?BitConnect Director Glenn Arcaro and his promoters, none of whom were registered with the Commission as a broker-dealer and were not affiliated with a registered broker-dealer, promoted a potentially high-yielding investment into a lending program for retail investors using recommendation-style videos they posted on YouTube. "
Glenn Arcaro pleaded guilty to deceiving investors in the US and abroad, with the participation of whom the scheme managed to attract more than $2 billion. The verdict will be delivered on January 7, 2022, Arcaro faces up to 20 years in prison.

- Apple will inevitably allow payments in bitcoin and other cryptocurrencies in the future. This opinion was expressed by Anthony Pompliano, co-founder of the investment company Morgan Creek Digital, commenting on Apple CEO Tim Cook's recognition of investments in digital assets.
Pompliano believes that cryptocurrency will not be a separate industry, and all tech giants will sooner or later "infiltrate it into all existing assets and industries." In his opinion, technology companies will more actively enter the cryptocurrency industry in the next 10-20 years, inviting experts and leaders from it.
?It has become normal to discuss cryptocurrencies in any society without risking being branded as 'crazy or lost.' Such conversations do not carry career risks anymore,? he added.

- European electronics and home appliance retailer MediaMarkt has been hit by the Hive ransomware virus. According to Retail Detail, the incident affected many of the chain's stores, mostly in the Netherlands and Germany, and the retailer's 3,100 servers were affected. Initially, hackers demanded a ransom of $240 million in bitcoin. But after the company entered into negotiations, the amount was reduced to $50 million.
For reference: MediaMarkt owns more than 1000 retail facilities in 13 countries. The company employs about 53,000 people and has an annual turnover of over ?20 billion.

- Chinese crypto journalist and analyst Willie Woo argues that bitcoin is not ready for impulse growth and renewal of all-time highs at the moment. Woo identified three factors that hinder the rise in price of the first cryptocurrency.
The first factor is bitcoin's high speculative activity. Woo argues that while long-term investors continue to accumulate cryptocurrency, a large number of positions are being opened for short-term speculative purposes.
Another factor that can hold bitcoin back is the launch of the first US exchange-traded fund (ETF) based on bitcoin futures. According to Woo, most institutional investors prefer to buy fund stocks and futures at the moment instead of buying the coin itself.
Recall that the first US exchange-traded fund based on bitcoin futures began trading on the New York Stock Exchange (NYSE) on October 19. Its assets exceeded $1 billion two days after the start of trading. Thus, the fund broke the record growth rate to $1 billion, which was held for 18 years.
The third factor is the overly optimistic sentiment of investors who are confident in the further growth of bitcoin and the entire cryptocurrency market. ?Whenever most investors are bullish, it is very difficult for the price to go up because there are a lot of speculative longs in the markets,? Woo explains.

- An undisclosed crypto investor bought 2.2 thousand BTC coins in October 2013, spending about $330 thousand. And so, he withdrew cryptocurrency from his wallet, which had been inactive for eight years, on this November 10. The investments of the crypto investor have increased 455 times during this time, and the value of the asset has been almost $150 million.

- it was a few months ago that there started to sound predictions that the price of bitcoin could soar to $100,000 by December. Bloomberg strategist Mike McGlone was an active supporter of this scenario. This analyst is known for having previously accurately predicted a repeat of the BTC run three years ago and a rise in quotes to $20,000 by the end of 2020.
However, there are skeptics among the experts. ?We won't get $100,000 or $150,000 in this Q4 or next Q1,? says popular crypto analyst Nicholas Merten. ?I'm sorry, but I'll have to say that. I think that many experts are mistaken. Bitcoin is aiming for growth, but we will only see around $100,000 or $150,000 by the fall of next year.?

- The authorities of Miami (USA) have decided to distribute $21 million in cryptocurrency to residents of the city. Thus, each of the 442,000 Miami residents will receive approximately 0.0007 BTC, which is about $47.
Miami Mayor Francis Suarez explained that he decided to take such a step in order to familiarize citizens with the concept of bitcoin. According to him, creating digital wallets for every resident is a rather laborious technical task, but he hopes for the help of cryptocurrency exchanges. After that, a digital registration system will be created to reduce the likelihood of fraud.
In addition, Francis Suarez stated in an interview with Bloomberg that one of the priorities for the city is the ability to pay civil servants their salaries in bitcoin. 


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#56 - November 17, 2021, 04:57:28 PM

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- Latvian law enforcement officers detained a suspect in creating a fraudulent cryptocurrency project, who disappeared with ?500,000 stolen from deceived customers. According to the police, the detainee is the creator of the Hodlife project and the token of the same name and operated from Spain. He promoted the fraudulent platform on social media, promising quick profits, and he made an exit scam last June and disappeared with investors' money. According to preliminary estimates, more than a thousand investors have suffered.
The stolen funds were laundered through mixing services, but Interpol employees were able to establish a link between different wallets and tracked the attacker.

- US Senator Cynthia Lummis criticized Hillary Clinton for concerns about cryptocurrencies. Earlier, during the Bloomberg New Economy Forum, former First Lady, Secretary of State in the Obama administration and participant of the presidential race in 2016, Mrs. Clinton said that cryptocurrencies can undermine the dollar's status as a reserve currency. Digital assets can also destabilize entire countries, she added.
?Great leaders are not afraid of the future. America could be a winner by adopting bitcoin as a hard currency that can be used to stabilize the dollar and reverse the tailspin that began in 1971,? Lammis wrote in response. She did not elaborate on how the first cryptocurrency should stabilize the dollar, but she did mention 1971. US President Richard Nixon completely abolished the gold standard then, transferring control of the money supply to the Fed. It is believed that this has made the economy more prone to inflation, allowing the printing of unsecured money.

- According to research by The Advisor Coach, Dogecoin is the most searched cryptocurrency in 23 US states. Bitcoin and ethereum are on the second (10 states) and third (eight) lines. The fourth place is a clone of Dogecoin, Shiba Inu.
Analysts explained Dogecoin's leadership by Elon Musk's attention to this asset. Tesla CEO invited users to vote for the option of accepting payments in Dogecoin back in May. Prior to this, the billionaire reported that SpaceX will launch the Doge-1 satellite to the moon in 2022. According to him, the mission is fully paid for with this meme cryptocurrency.
Dogecoin was worth $0.001353 on October 1, 2020. The price rose to $0.6311 per coin In May 2021, or 465 times. However, by the time of this writing on November 24, 2021, it has lost more than 65% in price, falling to $0.2172.

- Edward Snowden, a former NSA and CIA officer who asked for asylum in Russia, said that he treats dog-like tokens like Dogecoin or Shiba Inu badly. According to him, many take meme coins seriously and may suffer losses because of this.
Against the background of the growing popularity of such assets, fraudsters have become more active. The team behind Shiba Inu warned users about the spread of fake project groups on social networks.

- Bitcoin creator Satoshi Nakamoto should receive the Nobel Prize in Economics for inventing the first cryptocurrency. This initiative was made by Daniel Leon, co-founder and COO of the Celsius Network crypto platform. "This guy [Nakamoto] has brought hundreds of thousands of people more financial benefits than the bulk of economists in academia," Daniel Leon argued for his position.
He explained that before the advent of cryptocurrencies, people were forced to trust intermediaries, which are centralized institutions like banks and governments. With digital assets, this is no longer necessary. According to Daniel Leon, trusting the "code" rather than the middleman is easier and safer.
?When you lend money to your bank, it pays you 0.1%, but when you borrow, you pay 7.73%. Where is justice? To make matters worse, if a credit institution fails, the government bails it out. In the event of a failure of the government itself, it simply prints money: 30% of all dollars in circulation have been issued in the last 18 months,? COO Celsius Network said indignantly.

- Over a quarter of super-wealthy families around the world have already invested in cryptocurrencies. This is evidenced by the results of a survey of the British consulting company Campden Wealth, conducted among representatives of 385 family offices. The average capital managed by such offices is estimated at $1.6 billion.
31% of wealthy households in North America and 28% in Europe invest in cryptocurrencies, while this share is lower in the Asia-Pacific region, 19%. At the same time, the share of cryptocurrencies in the assets of billionaire families as a whole is still only 1%. Most of the respondents said that they plan to keep the volume of such investments at the current level next year, 28% are going to increase them, and only 4% are going to reduce them.

- A new report from analyst firm Glassnode showed that the market is not showing massive profit-taking. Analysts pointed out that the total supply of short-term bitcoin holders is at a multi-year low below 3 million BTC, which in turn means that the amount held by long-term holders is at a multi-year high. At the same time, they are only building up their positions. The total number of wallets with a non-zero BTC balance in the second half of November also reached an all-time high of 38.76 million.
The data obtained by Glassnode indicates that there are no signs of serious surrender, and that the flagship cryptocurrency may still have a rather long upward rally.

- CryptoQuant CEO Ki Young Ju also expressed a similar opinion to Glassnode. Despite the fact that bitcoin has been getting cheaper since the middle of last week, holders are in no rush to sell it. In parallel, there is a steady trend towards the withdrawal of cryptocurrency for autonomous storage. According to CryptoQuant, trading floors currently have the lowest amount of bitcoins since mid-2018.
Moreover, investors are withdrawing not only BTC, but also ethereum, which reduces the supply of the asset and eases the pressure on the market. In the long term, according to Ki Young Ju, this trend will drive the value of leading digital currencies upward.

- The International Monetary Fund (IMF) has once again criticized the decision of the El Salvadorian authorities to recognize bitcoin as the official currency. ?Given the high volatility of the bitcoin price,? the Fund said in a statement, ?its use as legal tender carries risks for consumers and also threatens financial integrity and stability. Its use also gives rise to contingent fiscal liabilities,? the review says.
The IMF came to this opinion following the visit of its staff to El Salvador. Experts who visited the country recommended that the government of El Salvador "narrow the scope of the bitcoin law and strengthen the regulation and supervision of the new payment system."

- A well-known trader and analyst known as Credible argues that the current correction of bitcoin is a necessity to continue the bullish trend and rise above $70,000. According to the expert, the first cryptocurrency is in the phase of a healthy correction at the moment.
The bitcoin price may fall to $52,000-53,000 in the near future, where the ?bottom? of the current correction is located, Credible predicts. According to him, the $69,000 mark that bitcoin reached on November 10 cannot be the top of the current bull market, as historically each subsequent cycle of growth has lasted longer than the previous one.

- Chief commodity strategist at Bloomberg Intelligence Mike McGlone believes that, despite the temporary correction in prices, BTC will grow in 2022. He said on his Twitter account that the asset is likely to face resistance at $100,000 and the $50,000 mark will act as a support level. ?The level of adoption of this young technology/asset is increasing, and the supply volume is less and less, which indicates signs of maturation,? the expert explained his forecast.

- The CEO of the American investment management company ARK Invest Katie Wood confirmed her previous forecast for the price of bitcoin at $500,000, saying that this will be facilitated by the growth of institutional investments. Such a price will be achieved if institutional investors allocate 5% of their portfolios for bitcoin.

- Mike Novogratz, CEO of investment firm Galaxy Digital Holdings, said last week that gold "was just crushed by bitcoin." ?I think gold was probably the best asset to own,? he added. "But bitcoin is simply the best version of storing value..."
Anthony Scaramucci, founder of another investment firm, Skybridge Capital, also expects bitcoin to "ultimately outshine gold." The price of this cryptocurrency, in his opinion, will easily reach $500,000, so one should invest in BTC right now. ?I think bitcoin is likely to be ten times better than gold... I would not be surprised if bitcoin grows exponentially and gold grows in line," said Anthony Scaramucci.
Paul Tudor Jones, a legendary trader with a personal fortune of $4.6 billion and fund manager of the Tudor Investment Corporation, has also admitted recently that he prefers bitcoin over gold. In his opinion, BTC is an excellent alternative as a hedge against inflation in the current economic situation. ?It is obvious that there is room for cryptocurrency,? the billionaire said. ?At the moment, it is winning the race against gold... And I would prefer it.?


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#57 - November 24, 2021, 03:35:16 PM

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- Police in the Spanish city of Tarragona arrested a 33-year-old man and a woman who installed hidden miners on computers in stores. The undisclosed criminals have infected at least 16 devices in electronics retailers Mediamarkt and El Corte Ingles department stores.
According to available information, the woman distracted employees and asked for help to start the laptop, which she allegedly bought in their store. Meanwhile, her companion was installing the Nicehash miner and the Anydesk program for remote access to computers on display sample laptops.
The new laptops running at full capacity have raised suspicion among consultants. Mediamarkt's CCTV cameras filmed the accomplices visiting the store three times, and the police were able to identify them from the video.

- Investors should take advantage of the latest correction in the digital asset market to build up their positions. This was stated by Anthony Scaramucci, founder of SkyBridge Capital and former director of communications in the Donald Trump administration. He noted that not only fundamental factors, but also the monetary policy of the US Federal Reserve, indicate the further growth of cryptocurrency quotes.
?If you believe in long-term fundamentals like we do, then now is the time to buy. I just think that the risk is decreasing in the current situation. The volatility of bitcoin and other cryptocurrencies is knocking people out of the game. It also washes away some of the leverage, which, in my opinion, creates a springboard for a good first quarter,? the financier explained. Scaramucci stressed that he considers the market reaction "healthy". He called what happened ?healing bloodletting?.

- The bitcoin network has processed more US dollar transactions than PayPal since the beginning of 2021. This is stated in a report by Blockdata. The average quarterly for the decentralized network was $489 billion, while PayPal had $302 billion. However, both of these figures are inferior to the average quarterly volumes of such giants as Mastercard and Visa ($1.8 trillion and $3.2 trillion, respectively).
?It is impressive how bitcoin, being a 12-year-old P2P network, has 27% compared to Mastercard, a company founded in 1966,? Blockdata experts noted. At the same time, in their opinion, the bitcoin network is "fundamentally" different from Mastercard and Visa. It is more of a "saving technology" than a "spending" and has more options for use.
Experts believe it is realistic that the cryptocurrency will surpass financial giants as for the volume of transferable value at some point. But to do that, it needs to bridge the bandwidth gap, which they called "staggering."

- Option traders are betting on bitcoin decline for six months for the first time since May. As noted by the CoinDesk portal, this situation does not necessarily imply a long-term market decline. The six-month expected volatility is now at historical averages, so options with more distant expiration are relatively inexpensive. Traders can buy put options in the hope of large profits for a small investment if the decline does occur. There is one more explanation for what is happening. It lies in the fact that traders are trying to protect their long positions in the spot market.
The price ratio for weekly, monthly and three-month contracts also shifted to the ?bears? earlier this month. ?Demand is particularly strong for puts with a strike price of $50,000,? the trading firm Paradigm noted.

- Cryptocurrency analyst Justin Bennett believes December could be the month of a rally in the cryptocurrency market, with Ethereum (ETH) and Dogecoin (DOGE) potentially leading it.
According to the expert, the dollar index (DXY), which compares the dollar to a basket of other fiat currencies, could face a downward momentum and give a bullish signal for the crypto market. In addition, Bennett uses a chart of the total cryptocurrency market capitalization (TOTAL). According to him, TOTAL is approaching the completion of the big bullish falling wedge. He also noted the discrepancy between the growing Relative Strength Index (RSI) and the downward exchange rate movement. A rising RSI during a downtrend is often interpreted as a hint of a bullish reversal.

- Imperial Arts French Art Gallery organizes the first ever auction of non-fungible tokens (NFTs) related to personal property owned by Napoleon Bonaparte. The unique auction is held to commemorate the bicentennial of the death of Napoleon I.
The auction will feature: Napoleon's cane from St. Helena, a golden snuffbox, a handwritten letter from Napoleon I to General Bertrand, an official imperial bust of the Empire, a miniature Bonaparte portrait and ivory painting in bronze case depicting Napoleon in the form of Colonel Garde chasseurs a cheval.

- Mark Yusko, CEO of Morgan Creek Capital Management, believes that owning bitcoin and other crypto assets is a way to avoid rampant inflation. In a new interview with CNBC, the head of the investment firm called BTC an "ideal" savings asset in a world where governments are in a race to devalue their currency.
According to the financier, it's not that bitcoin is getting better over fiat currencies. They are getting worse than bitcoin. ?There is a global race to the bottom,? says Martin Yusko.
In his opinion, investors should not be fooled by day-to-day fluctuations in the price of bitcoin, which do not necessarily reflect its true value. In the next few months, Yusko said, macroeconomic conditions could become "unstable" and owning BTC would be an advantage.

- 86% of hacked accounts on the Google Cloud platform are their further use for mining, Cybersecurity Action Team experts said. The software needed to do this was loaded on average 22 seconds after the hack. In many cases, attackers gained access to accounts due to poor protection from the users themselves, analysts noted.

- Bitcoin was down $53,360 this week in response to declines in stock indices and commodity futures. The situation is caused by the emergence of a new strain of the Omicron coronavirus. Nigel Green, CEO of the consulting company deVere Group, believes that investors should buy bitcoin right now, during the correction, as its rate will double in a year.
?Panic is the right time to buy BTC,? says Green. He also suggested that concerns about the spread of Omicron will be short-lived, and investors will again focus on rising inflation.

- According to cryptanalyst and trader Benjamin Cowen, the value of bitcoin will not fall below $50,000. That is, within the framework of the current correction, the fall of the first cryptocurrency will not exceed 25% of the historical maximum set on November 10. A similar situation occurred in September, when bitcoin was correcting after reaching $52,000. Then the value of the asset dropped by 23%, after which the coin returned to growth.
Cowen added that the support line for the current bullish trend passes at the $51,000 level. Even if it falls to this level, it is highly likely that the price of the cryptocurrency will push off from this level and begin to rise. At the same time, the specialist admitted that false breakouts of this level could occur.

- Crypto strategist known as Smart Contracter believes that bitcoin is almost ready for a recovery. Smart Contracter uses the Elliott Wave Theory, which predicts the future movement of the rate based on the psychology of market participants, which is manifested in the form of waves. According to his calculations, BTC has completed a 5-wave correction movement and is now ready for a new round of growth.
?There are no signs of an immediate reversal yet, but I believe we have seen the final volumes of surrender. In my opinion, in the case of a worst-case scenario, the BTC rate should rebound sharply to $63,000. The most positive scenario is a new historical maximum,? the expert said.

- The subscribers of the well-known analyst known as PlanB, the creator of the S2F forecasting model, agreed with the opinion that the main cryptocurrency will be able to continue to grow. About 80% of survey participants believe that the maximum recorded on November 10, 2021, around $69,000 is not the limit. According to PlanB, the coin is expected to break through the $100,000 level by the end of the year. However, most of the community members name the $75,000 mark. Ethereum, they believe, is able to rise in price to $7,500 over the same period of time.


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#58 - December 01, 2021, 04:44:29 PM

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- The collapse of bitcoin and other cryptocurrencies on December 04 occurred against the background of investors' flight from risky assets and the fall of the stock market. The reason for this was the news about the largest real estate developer in China Evergrande. The media reported that its founder was summoned to the government because of the possible bankruptcy of the company, which could create serious problems for the entire world economy.
Analysts at Galaxy Digital Research called general nervousness due to the new COVID-19 strain "Omicron" and because of the statement by Fed Chairman Jerome Powell about a possible acceleration in the pace of curtailing the monetary stimulus program, as the reason for the fall in the crypto market.

- Bitcoin is unlikely to have time to renew the highs before the end of 2021 and reach the $100,000 mark after the recent crash. This opinion was expressed by the chief investment officer of Bitwise Asset Management Matt Hougan in an interview with Bloomberg. ?I think this level can be the goal for 2022,? the top manager said. In his opinion, the growing support from institutions will be the driver, and there are ?fundamental driving forces? for this.
Also, giving a forecast for 2022, Hougan predicted an ?explosion of activity based on ethereum?. A Bitwise spokesperson highlighted the DeFi, NFT, Web 3.0 and metaverse sectors, as well as the growing potential of altcoins. ?Investors will look at Ethereum, Solana or Polygon. They are beginning to understand that cryptocurrency is more than just bitcoin,? says Hougan.

- President Joe Biden's administration has published the United States Anti-Corruption Strategy. This is the first time that such a document mentions cryptocurrencies. ?The Ministry of Justice will use the established National Cryptocurrency Law Enforcement Group to focus on comprehensive investigations and prosecutions of the criminal use of digital assets,? the Strategy says. This group will focus on "crimes committed by exchanges, mixing services and money laundering infrastructure entities."

- A poll by Grayscale Investments showed that more than a quarter of US investors (26%) already own bitcoin, more than half of them (55%) have acquired an asset in the last 12 months. 77% of respondents view digital gold as an investment asset and only 20% see bitcoin as a means of payment.
Despite the popularity of the retention strategy, one in six investors sold at least part of their digital assets, 91% of them did so at a profit.

- Back in early June, El Salvador's President Nayib Bukele announced that his country was going to mine BTC using energy from the region's volcanoes. He distributed a video at the end of September talking about the start of construction of the corresponding facility.
However, one of El Salvador's leading ecologists, Ricardo Navarro, believes that BTC mining using geothermal volcanic energy will eventually lead to an environmental disaster. Such energy is quite expensive, and its price is even higher than that of oil. As a result, in his opinion, the country will simply have to purchase more oil. Navarro also insists that "Bukele is not really aware of what is happening with the energy situation."

- The higher the bitcoin rate, the more often it is buried. It is paradoxical, but true: as the quotes grow, skeptics who write obituaries for cryptocurrency become more active. 99bitcoins calculated: the year is not over yet, and BTC has already been predicted death 41 times. The opponents of the coin were even more active only in 2017 and 2018: the premature death of the asset was reported 124 and 93 times then.
The latter of the current obituaries is by economist Bill Blain. Blain calls bitcoin a Ponzi scheme incapable of fulfilling the function of money and argues that cryptocurrency accelerates inflation.
Unlike a number of other crypto critics, Blain has doubts about blockchain technology as well: ?From time to time I dig into the myriad of junk that masquerades as the genius of blockchain, mathematics and computational logic that underlies cryptography. Read it yourself: it's 10% fun and 90% complete nonsense,? he writes.

- Well-known analyst and trader Ton Weiss believes that bitcoin has a better chance of reaching a new all-time high this year after the collapse to $42,000. The coin needs to gain a foothold above $53,500 for the bulls to seize the initiative. ?I think it will be like a V-turn. We will not have another chance to buy bitcoin below $50,000,? Weiss believes.

- The USA called "Moscow City" a hub for illegal cryptocurrency transactions. Experts of the Recorded Future company, which specializes in cybersecurity, claim that there are about 50 crypto exchanges that are engaged in illegal activities in this business center of the Russian capital. Recorded Future concluded that part of the payments to the ransomware went through "Moscow City", reports The New York Times.
The US authorities announced In September the imposition of sanctions against the Russian crypto exchange Suex, which has offices in Moscow and St. Petersburg. US officials claim Suex facilitated the withdrawal of ransomware and scammers' funds. This is the first time in US history that the authorities have imposed sanctions on a crypto exchange.

? According to Finbold, Americans suffered about $3.94 billion in losses from various cybercrimes in the first three quarters of 2021, which was the highest in history. Thus, cybercriminals stole at least $12.78 million daily. Compared to three quarters of 2020, losses increased by 83% ($1.9 billion). They amounted to about $1.2 billion In the same period of 2019, and $818 million in 2018.

- A well-known investor and economist Louis Navellier believes that a large bubble has been inflated in the stock market, which may lead to a strong correction of risky assets. As a result, bitcoin could drop to $10,000.
Navellier recalled that a serious fall in the rate of the main cryptocurrency also followed during a similar correction of risky assets in February-March 2020.
This time, in his opinion, the situation could be even worse, and bitcoin could lose up to 80% of its capitalization. This may be facilitated by the actions of the US Federal Reserve to tighten monetary policy.
?A fall below $46,000 (200-day moving average) would be a bearish signal. Bitcoin must fall to $28,500 to complete the double top pattern, and such a decline could indicate a drop below $10,000. This is an 80% decline and bitcoin has already shown similar behavior,? the investor said, referring to the end of 2017.


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Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.
#59 - December 08, 2021, 04:59:18 PM

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CryptoNews of the Week

CryptoNews of the Week by NordFX in General Cryptocurrency Discussion_9lKjvxU

- Miners have already mined 90% of the coins from the total bitcoin emission. The bitcoin network has reached the point at block No. 714000 where it remains to mine 2.1 million BTC, or 10% of the available emission volume. However, the total cryptocurrency supply will not be equal to 21 million coins, as provided by the algorithm. Chainalysis has calculated that 3.79 million BTC could be lost forever. In theory, these coins do exist, but they do not circulate.
Also, about 1 million BTC is stored at addresses that are associated with the creator of the first cryptocurrency, Satoshi Nakamoto. These bitcoins were mined early in the development of the network and have not moved since then. Nakamoto left his last public message 11 years ago.
Digital gold is expected to reach its emission limit around 2140 as regular halvings gradually lead to a zero-emission rate.

- According to the Bitstamp cryptocurrency exchange, the number of women investing in cryptocurrency increased by 198% in the first three quarters of 2021compared to the same period in 2020. The highest percentage of new investors are women between the ages of 30 and 35. It is curious that the most successful female investors and traders are the age group from 55 to 60 years old. They tend to invest larger amounts and earn higher returns.
The main reason for this influx is likely the proliferation of information about cryptocurrencies during the coronavirus pandemic. COVID-19 forced many countries to enter lockdowns, which made citizens stay at home for a long time. It is natural that when left without work, people were forced to look for new opportunities to generate income. In addition, fiat currencies are depreciating catastrophically in many countries.
However, despite the influx of women into what was previously considered predominantly male, gender balance will still take time. According to a report called Financial Tribes You Need to Know, 66% of investors in the cryptocurrency industry are still male.

- The new German government has included cryptocurrencies and blockchain technology in the list of the country's main development directions for the next four years. And now German savings banks have started working on a cryptocurrency wallet project. According to media reports, the plan provides for the possibility of buying and selling digital assets directly through accounts, and customers will not have to undergo additional verification procedures.
For reference: there are about 370 savings banks in Germany. Their aggregate database has about 50 million customers, and assets under management are estimated at ?1.4 trillion.

- According to IntoTheBlock experts, if BTC does not hold above $48,000, the risks of its fall to $43,000 will increase, and it is only at this level that the coin will be able to find a local bottom. About 344,000 wallets purchased 395,000 coins at prices in the area of this support. It is these investors who must prevent further pullback so as not to go into the red.

- Attackers hacked the personal Twitter of Indian Prime Minister Narendra Modi. They wrote on his behalf about the recognition of the first cryptocurrency as a legal means of payment in the country. The publication also said that India bought 500 BTC and plans to distribute it to citizens. Attackers also attached a link to a fraudulent site allegedly for citizens to receive their share of coins. As of now, the fake tweet has been deleted.

- When the news feed is calm enough, traders begin to pay more attention to technical analysis. And now the legendary trader and techno analyst Peter Brandt warned investors that there is a dangerous double top pattern on the chart of the first cryptocurrency. However, according to a number of experts, this does not mean that the pattern will eventually be fully formed and that the market will go into a deeper correction.
The analytical department of Bestchange believes that despite the high risks of continuing the local fall, the main cryptocurrency is able to go up powerfully in the medium term. ?The situation is extremely ambiguous today, but mid-term forecasts until mid-2022 are still positive. Bitcoin needs to lose at least half of its capitalization and securely gain a foothold at levels below $28,000-30,000 in order to abandon most positive scenarios. Until this happens, the hope for $100,000 continues to be relevant,? Bestchange believes.
According to Nikita Soshnikov, director of Alfacash crypto service, the market will face a long period of depressed sentiment if the double top pattern is confirmed. However, ?there is no question of any bitcoin at $5,000 or even $15,000. You can simply forget about such prices for cryptocurrency. But it may well fall below $40,000 and stay at this level for several weeks. I even admit a decline in the rate to $35,000, but going below this mark is unlikely,? the expert predicted.

- Elon Musk was named TIME's Person of the Year. The publication noted the impact of the founder of Tesla and SpaceX on life on Earth and ?possibly beyond?. "This is a man who seeks to save our planet and help us populate a new one: a jester, a genius, a provocateur, a seer, an industrialist, a showman, a boor, a crazy hybrid of Edison, Barnum, Andrew Carnegie and Dr. Manhattan from The Watchmen," - this is how TIME characterizes the richest person on the planet with a fortune of $265 billion.
When asked by a TIME reporter regarding cryptocurrencies, Musk replied that he is ?not such a big opponent of fiat. But the cryptocurrency has advantages, since any government, whatever it may be, has a desire to issue." ?I was instrumental in the creation of PayPal. And there are few who understand [the monetary system] better than I do,? multi-billionaire said. However, he doubted that digital assets can replace fiat. ?Bitcoin can serve as a store of value, but it cannot be a good substitute for currencies for payments. In this regard, even Dogecoin created as a joke is better suited.?
Among other things, Musk said in the interview with TIME that he would not be held responsible for how the markets react to his tweets: ?Markets are in motion all the time on their own for no reason. Is the reaction to my statements significantly different from the random wanderings that they already have? I do not think so. As you can see from my tweets, this is humor, which I find funny, but not everyone agrees. "

- The Weiss Crypto rating agency still adheres to an optimistic scenario despite the protracted correction of the flagship cryptocurrency. Agency analysts support the forecast of colleagues from Bloomberg, who previously announced a high probability of a coin breakthrough to $100,000 in 2022.
The chances of reaching this psychological mark exceed the risks of a further fall, according to the Weiss Crypto review. Against the backdrop of the confrontation with China, the United States will accelerate the legalization of the crypto sphere, which will positively affect the value of digital currencies.
The authors of the study emphasize that cryptocurrency will be the main beneficiary of the fall of the stock market in the context of tightening the monetary policy by the Fed. Investors can abandon stocks in favor of digital currency as a hedging tool. In addition, the decline in the yield on US Treasury bonds may also have a positive effect on the quotes of BTC and ETH.

- According to Michael van de Poppe, creator of the Material Indicators analytical resource, bearish sentiment still prevails among whales. ?They have not bought a single drawdown since the beginning of October and have only been selling lately,? he explained.
However, following the results of the US Federal Reserve meeting this week, the BTC rate may complete the correction and move to growth on the triggering of the ?sell on rumors, buy on the news? rule. A similar scenario emerges based on the analysis of the order book of the Bitfinex exchange. Traders started placing buy orders in the range of $44,500-$46,000, while at the time of writing, the first cryptocurrency is trading above $47,000.


#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #forex #cryptocurrencies #bitcoin #stock_market

Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.
#60 - December 15, 2021, 04:44:52 PM

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