Tag: Support

Main Opposition Candidate for President of South Korea Pledges Support for Crypto Tax Exemptions – Taxes Bitcoin News

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The leading presidential candidate of the opposition in South Korea has promised voters to ease the tax burden on crypto-related profits through exemptions. In a recent statement, Yoon Suk-yeol indicated that crypto investors will be treated like those who put money into stocks. Presidential Candidate Looks to Attract Young Voters With Crypto Tax Cuts Yoon Suk-yeol, the nominee of South Korea’s conservative People Power Party for the upcoming presidential elections in March, has announced his intention to back the raising of the threshold for the tax on gains from crypto…

Bitcoin Holding Support Above $40K; Faces Resistance at $43K-$45K

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Bitcoin (BTC) continues to hold support above $40,000 as momentum improves on intraday charts. The cryptocurrency is down about 4% over the past week, although multiple oversold readings suggest buyers could remain active into the Asia trading day. As of press time Wednesday, bitcoin was changing hands at $41,822. Still, upside appears to be limited toward the $43,000-$45,000 resistance zone. And $48,000 could present another hurdle for buyers given the series of lower price highs since November. The relative strength index (RSI) on the four-hour chart approached an oversold level…

Bitcoin Drifts Lower; Stuck Between $40K Support and $45K Resistance

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Bitcoin (BTC) has traded in a sideways range over the past week, although buyers continued to hold support around $40,000. The next level of resistance is between $43,000-$45,000, which could limit short-term price gains. BTC is roughly flat over the past 24 hours, as most technical indicators remain neutral into the Asia trading day. The relative strength index (RSI) on the four-hour chart is the most oversold since Jan. 7, which preceded a 10% price bounce. In a downtrend, however, price reaction to oversold readings could be delayed by a…

Low-Cap Altcoin Soars 372% in One Week After Earning Surprise Support From Crypto Exchange Coinbase

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A low-cap altcoin has skyrocketed by more than 372% in the past seven days after receiving full trading support from Coinbase this week. PolySwarm (NCT) is a threat detection and anti-malware project that was listed by Coinbase Pro on Wednesday, alongside altcoins Inverse Finance (INV), Liquity (LQTY), Propy (PRO). All four crypto assets then received listings across the exchange’s full retail platform the following day. PolySwarm uses its native token, NCT, to reward users who assist in the collection of cybersecurity data and insights. The 344th-ranked crypto asset by market…

Strike App Won’t Support Bitcoin in Argentina

One Argentinian user, Nicolás, told CoinDesk that the app can receive bitcoin payments but immediately converts the cryptocurrency to USDT. He said that the Strike wallet only holds USDT. Another Strike user in Argentina, Adam, tweeted that the app was “a disappointment,” describing the app as a custodial wallet that works only with tether under the ERC-20 standard. Source

Bitcoin Holding Support Above $42K; Resistance at $45K-$47K

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Bitcoin (BTC) buyers are attempting to reverse a two month-long downtrend. The cryptocurrency declined by roughly 30% from an all-time high near $69,000 in November, and now technical indicators suggest the sell-off is starting to stabilize. BTC was trading around $43,000 at the time of writing, and is up about 3% over the past week. Support is seen around the $40,000 price level, which could limit pullbacks over the short term. Still, upside could be limited toward the $45,000-$47,000 resistance zone over the weekend. The relative strength index (RSI) on…

Analysts expect turbulent Bitcoin price until $46,500 flips to support

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Market volatility reared its ugly head once again for crypto traders on Jan. 13 as the excitement of Bitcoin (BTC) hitting its highest level in a week was quickly thwarted by a correction that thrust the cryptocurrency back into the mid-$45,000 range.  Data from Cointelegraph Markets Pro and TradingView shows that after reaching an intraday high of $44,500, bears took control of the Bitcoin market and hammered the price to a low of $42,315 while the wider global financial markets also experienced a noticeable sell-off. BTC/USDT 1-day chart. Source: TradingView Here…

China-Backed BSN to release infrastructure this month to support NFTs: Report

China-backed Blockchain Services Network will introduce infrastructure this month to support NFTs that have no link to cryptocurrencies, which are banned in China, the South China Morning Post reported on Thursday. He Yifan, chief executive of Red Date Technology, which provides technical support to BSN, told the SCMP that non-fungible tokens “have no legal issue in China” as long as they have nothing to do with cryptocurrencies. The infrastructure, BSN-Distributed Digital Certificate (BSN-DDC), provides application programming interfaces for businesses or individuals, enabling them to build their own user portals or…

Fidelity exec says Bitcoin is ‘technically oversold,’ making $40K a ‘pivotal support’

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A painful retracement in the Bitcoin (BTC) market earlier this week sent the price below $40,000 for the first time since September 2021. Many analysts predicted the decline to continue toward the $30,000 to $35,000 range, but the price reclaimed $40,000 as support again and on Wednesday BTC made an abrupt move above $44,000. This rekindled hopes that the $40,000 level is perhaps where Bitcoin may bottom out before continuing its move higher in 2022. Jurrien Timmer, the director of global macro at Fidelity Investments, called $40,000 a “pivotal support,”…