Day: May 13, 2022

Bitcoin price sees ‘hell of a reversal candle’ as 168,000 BTC leaves exchanges

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Bitcoin (BTC) came back with a vengeance on May 13 as bulls stepped in to take the market to near $31,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin RSI stays firmly oversold Data from Cointelegraph Markets Pro and TradingView confirmed 24-hour gains of 30% for BTC/USD in the aftermath of the Terra debacle. After “kissing” its realized price at $24,000, Bitcoin showed no taste for fresh bearishness as record on-chain volume combined with coins leaving exchanges en masse. On May 11 and May 12 alone, exchange balances declined by over…

BITCOIN: EDGE OF MASSIVE MOVE THAT COULD CHANGE EVERYTHING!!!!!!!!!! BTC Price Prediction Analysis

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io This Bitcoin and Cryptocurrency trading analysis applies to various exchanges, including Bybit and Binance. Tackling questions like if Bitcoin can reach all time highs again or how low BTC will crash. Things like the lightning network have provided huge improvements for BTC and while it is true that others like Roger Ver with Bitcoin Cash (bcash) may disagree, I do see these blockchain technology innovations to be very bullish fundamental signs for the space. ⚡️𝗢𝗙𝗙𝗜𝗖𝗜𝗔𝗟 𝗙𝗢𝗥𝗙𝗟𝗜𝗘𝗦 𝗖𝗛𝗔𝗡𝗡𝗘𝗟𝗦 (𝗧𝗘𝗟𝗘𝗚𝗥𝗔𝗠/𝗪𝗘𝗕𝗦𝗜𝗧𝗘)⚡️ 🚀 Forflies GOLD: 🚀…

Trust in stablecoins ‘infinitely more important’ than collateral

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In light of recent market effects due to the collapse of the Terra USD (UST) stablecoin, several questions should be answered about what makes a stablecoin usable as the crypto market expands. Co-founder of crypto financial service provider VegaX Holdings Sang Lee favors decentralized stablecoins over their centralized counterparts but thinks they must be coins that people can trust, which poses a dilemma for the industry. In a conversation with Cointelegraph on May 13, Lee pointed out that the important utility stablecoins serve in the crypto ecosystem was offering traders…

Is Bitcoin a ‘good’ investment?

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io The cryptocurrency market is now worth more than $3 trillion. But it’s volatile. Bitcoin has gone through many chaotic price swings and corrections – with fluctuations down to everything from crackdowns on mining to Elon Musk’s social media activity. This makes it a high-risk, high-reward investment. If you’d bought into the market with $1,000 in 2016, you’d be up nearly $60,000 today. Concerns are growing that the boom in Bitcoin is furnishing criminals with untraceable cash, defrauding unsuspecting pensioners with coin-based scams,…

UAE’s Emirates Airline Set to Use ‘Bitcoin as a Payment Service’ – Featured Bitcoin News

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One of the United Arab Emirates (UAE)’s leading airlines, Emirates Airline, said it has plans to add “bitcoin as a payment service.” The airline is planning to recruit personnel to create applications that monitor client needs. Two Different Applications and Approaches The United Arab Emirates (UAE)’s leading airline, Emirates Airline, will soon embrace “bitcoin as a payment service,” the company’s chief operating officer (COO) Adel Ahmed Al-Redha has said. In addition, the airline will add non-fungible token (NFT) collectibles on its webpage. Reports of the airline’s plan to embrace bitcoin…

SEC’s Hester Peirce says new stablecoin regs need to allow room for failure

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Commissioner Hester Peirce — also known as the Securities and Exchange Commission’s (SECs) “crypto mom” — has backed a regulatory framework for stablecoins that allows “room for there to be failure.” Speaking at an online panel on May 12 hosted by financial think-tank the Official Monetary and Financial Institutions Forum (OMFIF) Peirce, who has long been an advocate for crypto, was asked to shed light on the actions being taken by U.S. regulatory bodies in regard to cryptocurrency. “One place we might see some movement is around stablecoins,” Peirce answered,…

Vitalik donates $4M to Uni of NSW for pandemic detection tool

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Ethereum co-founder Vitalik Buterin has donated $4 million worth of USD Coin (USDC) to the University of New South Wales (UNSW) to support the development of a pandemic detection tool. The capital, which equates to roughly $5.3 million Aussie dollars, is part of Buterin’s self-described “moonshot anti-COVID effort” dubbed Balvi Filantropic Fund in partnership with the Shiba Inu memecoin project (SHIB) and Crypto Relief. The funds will further support the development of the OISNT-based EPIWATCH tool which utilizes artificial intelligence (AI) and open-source data to create early pandemic warning signs.…

How Much Electricity Does Bitcoin Mining Actually Use?

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Christine Lee presents data illustrating the environmental impact of the Bitcoin network, looking specifically at global energy consumption and regional carbon emissions. As regulators often target cryptocurrency ESG concerns, Lee highlights areas of the world where bitcoin mining uses emission-free electricity. #cryptocurrency #digitalfinance #finance #bitcoin #crypto Subscribe to CoinDesk on YouTube: Site: Twitter: LinkedIn: Instagram: Facebook: Newsletters: CoinDesk Podcast Network: Markets Daily Crypto Roundup: CoinDesk is the leading digital media, events and information services company for the crypto asset and blockchain technology…

Ethereum Reclaims $2K, Why Upsides Could Be Limited Above $2.2K

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Ethereum found support near $1,700 against the US Dollar. ETH started a recovery wave and climbed above the key $2,000 resistance zone. Ethereum started a decent recovery wave above the $1,900 and $2,000 levels. The price is still trading below $2,150 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $2,000 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate higher if it clears $2,150 and $2,200 in the near term. Ethereum Price Breaks…