Day: January 25, 2022

Bitcoin Rises Above $37K; Resistance at $40K-$43K

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Bitcoin (BTC) buyers remain active, pushing the cryptocurrency over $37,000, which is near the top of week-long price range. Still, upside could be limited around the $40,000-$43,000 resistance zone over the short-term. BTC was trading at $37,500 at press time and is up 3% over the past 24 hours. The relative strength index (RSI) on the four-hour chart triggered an oversold signal on Jan. 22, which preceded the latest price bounce. On the daily chart, the RSI is starting to rise from extreme oversold levels, which could stabilize the current…

Bitcoin's Correction Continues for Now, but Eventually It Could Go 'Parabolic,' Says Peter Brandt

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The recent crypto sell-off could be a mere dip within a long-term uptrend. That’s according to chartist Peter Brandt, CEO of Factor LLC, a research and trading firm. When asked what it would take for bitcoin (BTC) to get to $200,000, Brandt said, “I think it’s going to take a market that’s going to go up on a parabolic basis – and that’s what bitcoin has done.” Bitcoin was trading around $37,000 at press time and is down 45% from its all-time high near $69,000 reached in November 2021. The…

YouTube Loses Pair of Executives to Web 3

Two YouTube executives announced their departures from the Google-owned company with plans to pursue Web 3 ventures on Tuesday, based on tweets from their personal accounts. The departures come on the same day as CEO Susan Wojcicki issued an open letter saying YouTube is looking into non-fungible tokens (NFTs) as a way to help creators monetize their content. The first exec to announce their departure was YouTube’s head of gaming, Ryan Wyatt, who will be joining Polygon as the CEO of Polygon Studios. A Polygon spokesperson did not return a…

‘Take a chill pill, stay long’ — Anthony Scaramucci says bitcoin’s recent plunge won’t last

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Buyers should cool off on cryptocurrency concerns and make some long-term investments instead, SkyBridge Capital’s Anthony Scaramucci told CNBC on Tuesday. Some people think bitcoin is “rat poison,” as billionaire investor Warren Buffett once described it; others think it’s the worst thing to ever happen to civilization, Scaramucci said in a “Squawk Box” interview. “Everyone is a long-term investor until you have short-term losses, and then you start freaking out.” “Take a chill pill, stay long bitcoin, other cryptocurrencies like Algorand and Ethereum, and I think you’re going to be…

Bitcoin NUPL Metric Signals Start Of Early Bear Period

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Bitcoin NUPL indicator has sharply dropped in value recently, a trend that may signal the start of the early bear market period. After The Crash, Bitcoin NUPL Value Has Declined To 32.5% According to the latest weekly report from Glassnode, the BTC NUPL’s recent trend may suggest that the early bear market is now beginning. The “Net Unrealized Profit and Loss” (or NUPL in short) is an on-chain indicator that measures the difference between the relative unrealized profit and the relative unrealized loss. NUPL = (Market Cap – Realized Cap)…

2 Gold-Backed Crypto Asset Market Caps Near $1 Billion, XAUT Jumps 19,000% in 23 Months – Altcoins Bitcoin News

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While reserve-backed crypto assets and stablecoin market valuations increased a great deal during the last year, gold-backed cryptocurrencies have also seen their market caps swell. Between the tokens tether gold and pax gold, the market valuations of these two gold cryptos are nearing a billion dollars in value with $742 million today. Tether Gold’s Market Cap Swells Over 19,000% in Less Than 2 Years, While Pax Gold Increased by More Than 15,000% On February 21, 2020, the market valuation of tether gold (XAUT) was $2.1 million and 23 months later,…

Tucked Inside Biden Infrastructure Bill: Unconstitutional Crypto Surveillance

Before U.S. President Joe Biden signed the Infrastructure Investment and Jobs Act into law in November, many groups spoke out against a provision that broadens the tax code’s definition of “broker.” But there is another hidden cryptocurrency provision in this new law that amends part of the tax code in a way that will greatly expand financial surveillance, criminalize certain cryptocurrency transactions and, in my view, violate the Fourth Amendment of the U.S. Constitution. This provision alters Section 6050i of the tax code, which requires businesses that receive more than…

YouTube CEO hints that NFTs could be added to creator platform

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YouTube’s CEO, Susan Wojcicki, addressed YouTube’s priorities for 2022 in a letter published Tuesday on the company blog. Among those priorities is the possibility of adding nonfungible token, or NFT, features for the platform’s video creators. there’s *so much* to in 2022: @SusanWojcicki shares the future of YouTube → https://t.co/uL2WIbLwXK pic.twitter.com/JEW8yzqh7e — YouTube (@YouTube) January 25, 2022 What this could look like is yet to be determined, however. No additional details were provided in Wojcicki’s statement aside from the claim that the YouTube team will use developments in the Web3 space…

How DeFi Kingdoms Powers the Harmony Blockchain

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In addition to a good infrastructure, a blockchain needs various qualified projects to grow, and Harmony is an example of a chain with at least one highly promising game in its ecosystem.  According to Footprint Analytics, Harmony currently ranks 21st in TVL for blockchains. Its TVL rose 529% in just one quarter to $753 million as of Dec. 26, in large part due to the popularity of  GameFi project DeFi Kingdoms (or DFK), which makes up 50% of Harmony’s TVL.   Footprint Analytics:  Harmony TVL   Harmony even surpassed Ethereum…

The Future of Blockchain: Green and Community Governed | Arthur & Kathleen Breitman, Tezos

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io On this week’s Searching for Mana Lloyd Wahed CEO of Mana Search met with Arthur and Kathleen Breitman, the co-creators of the Tezos blockchain to discuss the development of the Tezos ecosystem and how it uses creativity, collaboration and a degree of democratisation to evolve this open-source platform. They see themselves very much as match makers and facilitators, bringing together developers with problems who will contribute to the ecosystem and profit from it. There are a couple of hundred developers in the…