Month: September 2022

Time for a breakout? Bitcoin price pushes at key resistance near $23K

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On Sept. 12, Bitcoin is doing Bitcoin things as usual. Since Sept. 9 the price has broken out nicely, booking a near 16% gain and rallying into the long-term descending trendline which appears to have resistance at $23,000.  BTC/USDT 1-day chart. Source: TradingView Perhaps BTC and the wider market are turning bullish ahead of the Ethereum Merge which is scheduled for Sept. 14, or maybe the elusive bottom is finally in. Weekly chart data from TradingView shows that on June 27 and Aug. 15, Bitcoin’s relative strength index had dropped…

Brother of former Coinbase employee pleads guilty to charges related to insider trading: Report

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Nikhil Wahi, who was arrested for allegedly working with his brother and an associate on a scheme to commit insider trading using crypto, has reportedly entered a guilty plea for wire fraud conspiracy charges. According to a Monday report from Reuters, Wahi admitted to authorities during a virtual hearing that he used confidential information obtained from Coinbase to make profits from trading crypto. Wahi’s brother Ishan worked as a product manager at Coinbase, during which time he allegedly shared information regarding the launch dates of tokens with his brother and…

Cryptocurrency is picking up as an instrument for tyranny

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Proponents paint Bitcoin (BTC) and other cryptocurrencies as antidotes to totalitarian governments and central banks. Simultaneously, international corporations and startups alike have designed blockchain platforms and products that could be used on behalf of totalitarian governments and central banks.  Microsoft body activity data One example is Microsoft, which applied for a patent for a cryptocurrency system using body activity data. As part of the cryptocurrency mining process, the cryptocurrency system gives a task to your device, instructing you to complete a “human body activity.” A sensor in the user’s device…

CRYPTO MARKET CRASH! SHOULD I BUY ALTCOINS NOW? CRYPTOCURRENCY ANALYSIS & UPDATE

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Bitcoin and altcoins pop to the upside, but upcoming macro events could cap the rally

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The 13% gains in the six days leading to Sept. 12 brought the total crypto market capitalization closer to $1.1 trillion, but this was not enough to break the descending trend. As a result, the overall trend for the past 55 days has been bearish, with the latest support test on Sept. 7 at a $950 billion total market cap. Total crypto market cap, USD. Source: TradingView An improvement in traditional markets has accompanied the recent 13% crypto market rally. The tech-heavy Nasdaq Composite Index gained 6.2% since Sept. 6…

Law Decoded, Sept. 5–12: The pressure is growing in the US

Last week regulators worried about the “de-integration” of financial sector and global energy consumption — all because of crypto. While last week brought no troubles from the market side of the crypto industry — no operations frozen, no bankruptcies filed — the United States regulators made some explicitly negative statements.  Recently appointed U.S. Federal Reserve Board vice chair for supervision Michael Barr pledged to “ensure that crypto activity inside banks is well regulated, based on the principle of the same risk, same activity, same regulation, regardless of the technology used…