Month: January 2022

Blast From The Past Bitcoin Fractal Suggests A Record Reversal Is Near

Mark Twain said that history doesn’t repeat, but it often rhymes. Such a scenario could be about to play out in Bitcoin, according to a potential fractal that mimics the setup before a previous record-breaking rally. While the conditions aren’t quite the same for an exact repeat, there could be enough for the price action now and then to rhyme just enough. Let’s take a closer look. Record-Breaking Bitcoin Price Fractal Found, But Is It Valid? Markets are cyclical and patterns repeat in those markets so often, they can be…

Arab Bank Switzerland Is Quietly Getting Into DeFi

“The idea for now is just for our clients to buy, sell and hold some of the most prominent DeFi tokens,” said Braud in an interview. “But we do believe traditional financial institutions will be replaced in the near future by these protocols and we want to be part of this change. So, naturally in the future, we want to go deeper into these kinds of decentralized services.” Source

Fed’s Minutes Report ‘Bludgeons’ Global Markets — Stocks, Crypto, Precious Metals Slip in Value – Economics Bitcoin News

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Minutes from the U.S. Federal Reserve’s policy meeting on December 14-15 show that the central bank is being persistent about unwinding quantitive easing (QE) tactics and that it views ultra-low interest rates as no longer necessary. Global markets immediately dropped after the news was published as stock markets roiled, crypto markets shed billions, and precious metals like gold slipped a hair in value as well. US Central Bank Policy Meeting Suggests the QE and Low-Interest Rate Fiesta Is Coming to an End, Global Markets Lose Billions Recently published notes from…

Bitcoin Stabilizes After Sell-Off, Resistance Near $45K-$50K

Bitcoin (BTC) dipped below initial support at $45,000 on Wednesday, but later stabilized around $42,000, which is near the Dec. 5 crash low. Oversold signals remain intact, which suggest selling pressure could subside. Given the series of lower price highs since November, support ranges and oversold readings are viewed as countertrend. This lowers the probability of significant buying strength until the downtrend is reversed. There is strong resistance ahead which could limit upside moves over the short-term. For example, price momentum turned negative on the monthly chart, indicating a possible…

Not Everyone Can Afford to Be Satoshi

This all the more evident when Web 3 is compared to bitcoin, the first cryptocurrency developed pseudonymously by Satoshi Nakamoto, who, as far as we know, has never profited from their invention. That was the standard way cypherpunks and many FOSS developers operated – in it for the ideas, for the battle for privacy and digital rights. It’s a romantic ideal, but doable. Source

Start Of Bear Period? Current Bitcoin Trend Looks Similar To June

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Bitcoin on-chain data shows current trend with the short-term holder SOPR looks similar to that in June. This may mean that a bear period similar to then has started. Bitcoin Short-Term Holders Continue To Realize Losses As pointed out by an analyst in a CryptoQuant post, Bitcoin short-term holders have continued to realize profits recently, as suggested by the SOPR. This trend may be similar to the one seen in June. The “Spent Output Profit Ratio,” or SOPR in short, is an indicator that measures the profit ratio of the…

Comedian Stephen Colbert spoofs ‘Colbert Coin’ in response to rise in crypto scams

Stephen Colbert, the charismatic host of CBS’ The Late Show, is once again associating many cryptocurrencies with scams — but doing so by parodying the vernacular of a seasoned HODLer. In a Wednesday segment on members of Generation Z falling for scams inside and outside of the crypto space, Colbert referenced the rug pull behind a token inspired by Netflix’s show Squid Game, in which thousands of investors lost more than $3 million. Together with “certified young person” and staff writer Eliana Kwartler, Colbert debuted an “amazing investment opportunity” designed…

Oracle tokens turn bullish as blockchain projects focus on interoperability

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2022 looks to be a transformative year for the cryptocurrency ecosystem as the focus on interoperability between siloed blockchain networks comes to the forefront and a multitude of projects announce plans to interconnect their platforms with other protocols.  One sector of the crypto ecosystem that will play a vital role in ensuring smooth communication and interaction between networks are oracles projects like Chainlink (LINK) and Band Protocol (BAND). Top 8 oracle projects by market capitalization. Source: Messari Oracles relay data in a consistent, secure and decentralized manner and this is…

Bitcoin could outperform stocks in 2022 amid Fed tightening — Bloomberg analyst

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The Federal Reserve’s signaling for tighter monetary policy in 2022 could provide short-term headwinds for risk assets such as stocks and cryptocurrency, but there’s a good chance that Bitcoin (BTC) still comes out on top as investors recognize its value as a digital reserve asset, according to Bloomberg commodity strategist Mike McGlone.  The January edition of Bloomberg’s Crypto Outlook described the Federal Reserve’s plan to raise interest rates in 2022 as a possible “win-win scenario for Bitcoin [versus] the stock market.” The reasons stem from the fact that the S&P…

Kazakhstan Shuts Down Banks, Internet Amid Unrest That Threatens Bitcoin Mining, Hashrate – Mining Bitcoin News

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Measures imposed by authorities to quell mass protests in mining hotspot Kazakhstan are affecting cryptocurrency markets and the Bitcoin network hashrate. To deal with the civil unrest caused by rising fuel prices and a worsening economy, the government restricted access to the internet and closed down local banks. Fears are rising that the turmoil may spark another major migration of miners now that some are already leaving the country, which also faces power shortages. Government Takes Country Offline as Protests Rage in Major Cities, Russia Sends Troops Thousands of Kazakhstanis…