Day: September 9, 2021

Bitcoin Price “Pitchfork Channel” Could Pin-Point The Last Dip Ever

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After this week’s flash crash in Bitcoin and altcoins, sentiment is back to being bearish just like that. Bears are taking an “I told ya so” tone all over social media, pointing to early 2018’s “dead cat bounce” as evidence of the bear market to come. But according to a pitchfork channel tool drawn across important pivot points in Bitcoin price action, this flash crash could have been the last dip ever before the last leg up, the top is in, and the real bear market is here. The Great…

Are Central Bankers Ready for Payments Theater? — CoinDesk

OnlyFans’s recent ban of explicit porn (which was rescinded after a few days) illustrates how divisive payments governance can be. We still don’t know why OnlyFans decided to hack off one of its own legs, but it may have had something to do with the rules of the underlying payments systems on which the site relies. The media fallout was a huge PR disaster for all involved, including Mastercard. If FedSend was part of the picture, it, too, would have been dragged into the controversy. Source

The September Curse And How It’s Preparing Bitcoin For Another Rally

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Bitcoin has suffered heavy losses along with most of the crypto market following the flash crash that happened on El Salvador’s “Bitcoin Day”. The digital asset has been trying to recover from this loss since it occurred two days ago on September 7th. Part of the cause of the crash has been attributed to a “buy the rumor, sell the news” event triggered by the adoption of bitcoin by El Salvador. But the charts show another factor that led to the crash. Related Reading | Standard Chartered Takes Bullish Stand On…

How to Set Up a Bitcoin Miner

A Field Programmable Gate Array (FPGA) is an integrated circuit designed to be configured after being built. This enables a mining hardware manufacturer to buy the chips in volume, and then customize them for bitcoin mining before putting them into their own equipment. Because they are customized for mining, they offer performance improvements over CPUs and GPUs. Single-chip FPGAs have been seen operating at around 750 MH/sec, although that’s at the high end, although manufacturers could put more than one chip on a board. Original

How Do You Value Digital Assets? — CoinDesk

“Broadly, as financial advisors, we have a hard time assessing actual cryptocurrencies as true money, and we don’t feel they are really a store of value now given their volatility,” said Solcher. “We do, however, believe in the technology, and that’s the place we’re more comfortable putting our investment dollars.” Source

5 Ways Bitcoin Can Play a Role in a Portfolio — CoinDesk

When you run a financial plan for clients, for instance, how often do you run a scenario of the U.S. dollar losing its reserve status? When do you run the consistent and accelerating devaluation of the U.S. dollar in a plan? Never? The facts are that bitcoin, even in a small amount, allows you to solve this what-if for clients. You can run a scenario of a small allocation of bitcoin going to $0 and the client still having a successful outcome. Original

Ethereum Stuck Below $3,600, Why Bears Might Aim Fresh Drop

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Ethereum recovered above $3,400 and $3,500 against the US Dollar. ETH price is struggling near $3,600 and it might start a fresh decline. Ethereum recovered losses after a sharp decline to $2,900. The price is still trading well below $3,600 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $3,500 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline unless there is a clear break above $3,600. Ethereum Price is Facing…

Why Bitcoin Price At Risk of A Fresh Drop To $42K

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Bitcoin price corrected gains and moved above $45,000 against the US Dollar. BTC is now struggling to surpass $47,000 and it could start another decline. Bitcoin is facing a major resistance near $47,500 and $48,000 levels. The price is now trading well below $48,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $47,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh decline as long as it is trading below the…