Month: March 2022

Bitcoin to $58K next? A 2019-like ‘reversal ascending triangle’ hints at more upside for BTC

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A sharp reversal in the price of Bitcoin (BTC) out of an otherwise bearish technical setup has raised its chances of reaching $58,000 in Q2. Bitcoin price bottoming out? On the daily timeframe, Bitcoin broke out of its ascending triangle on March 27 to the upside, bringing the much-anticipated level of $50,000 within its range. Interestingly, ascending triangles are continuation patterns, meaning they typically resolve by sending the price in the direction of its previous trend once it breaks out of their tightening range. Bitcoin, which was trending downwards before forming…

Russian government official calls to legalize mining ‘as soon as possible’

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Russian Deputy Minister of Energy Evgeny Grabchak proposed eliminating the legal vacuum around crypto mining in the country and introducing clear regulations. This statement continues the recent streak of support for the crypto industry among the country’s officials.  Speaking at the first national conference of legal crypto miners in Irkutsk on Saturday, Grabchak called for introducing a regulatory framework for the sector as soon as possible: “The legal vacuum makes it difficult to regulate this area and set clear rules of the game. This legal vacuum needs to be [eliminated]…

Quidax Unveils One of Africa’s Biggest Music Producers as Its Brand Ambassador and Announces the Launch of Its Crypto Academy – Press release Bitcoin News

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press release PRESS RELEASE. At a press conference last week, African founded cryptocurrency exchange, Quidax announced that it will be collaborating with popular record producer, Micheal Collins popularly known as Don Jazzy. The crypto start-up had launched an online campaign with #TheQuidaxCall. The campaign which started on Tuesday, 15th March saw Quidax reveal celebrities like; Diane Russet and Bisola Aiyeola, both of whom are actresses and are former reality stars of Big Brother Naija. They also unveiled popular actor Timini Egbuson and celebrity Chef, Gbubemi Fregene aka Chef Fregz as…

Shiba Inu, Solana Tokens Lead Gains as Bitcoin Hovers Over $47K

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“The Crypto Fear and Greed index has reached 60 which is classified as Greed – the last time it reached this level Bitcoin was around $60,000,” explained Marcus Sotiriou, analyst at crypto broker GlobalBlock, in an email to CoinDesk. The fear and greed index calculates investor sentiment, with “greed” readings leading to a high probability of an imminent correction and “fear” readings preceding a period of the uptrend. Original

Bill proposes digital currency that replicates cash, bypasses the Fed

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The Electronic Currency and Secure Hardware Act (ECASH Act), introduced today in the United States House of Representatives, could herald a new direction in government-sponsored digital currencies. The legislation calls for the U.S. Secretary of the Treasury to develop and pilot an electronic version of the U.S. dollar that is easy to use for the economically marginalized or technically challenged. It would also “maximize” consumer protection and data privacy, according to its principal sponsor Representative Stephen Lynch, chair of the Fintech Task Force in the House Financial Services Committee. Interestingly,…

Rio de Janeiro to Accept Cryptocurrency Payments for Taxes Next Year – Bitcoin News

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Rio de Janeiro, one of the most iconic cities of the South American continent, has announced it will allow its citizens to pay taxes with cryptocurrencies. This makes it the first city in the country to do so, recognizing there is a boom in the cryptocurrency market. These actions form part of a plan that sees the city investing some of its funds in crypto assets in the future. Rio de Janeiro Will Expand Its Tax Payment Options The city of Rio de Janeiro revealed a plan to…