Monday, November 30, 2020

Didi Taihuttu and His Family Are Putting Everything They Have Into BTC



Getting involved in bitcoin and cryptocurrency can be quite risky. Digital currencies are known for being extremely volatile and vulnerable to outside market influence, but according to Didi Taihuttu and his family, not getting involved in bitcoin would have been even risker.


Didi Taihuttu Sees Bitcoin As More Than Just a Currency


Taihuttu is a 39-year-old husband and father of three children. Presently, they all live in a 2,500 square foot that they’re selling – along with everything else they own, including their bikes, their furniture, even their shoes. After getting money from the sales, they traded that cash in for bitcoin and are now waiting for the currency to take off.


Taihuttu is confident in the future of bitcoin and claims that the financial market is switching over to be strictly crypto and digital payment methods. When describing his mindset for getting rid of everything and trading it in for BTC, he commented:



We were just like sell it, sell, what can we lose? Yeah, we can lose all the material stuff. Yeah, we can lose all our money. Yeah, we don’t have three cars anymore. We don’t have the motorcycle anymore, but in the end, I think we, as a family, will still be happy and just enjoying life.



While they wait for the asset to peak to a new high, the family is living in a campsite in the Netherlands. Taihuttu says that he used to mine bitcoin but is now only involved in the trading. Right now, they are just trading a little bit at a time so that they can afford groceries and other essentials for daily life, which he claims really aren’t much.


One of the big issues he’s experiencing is opposition from his friends and family. They believe he’s nuts to put everything into a cryptocurrency that has been known to go up and down each day like the sun and the moon. However, Taihuttu believes that the current financial market isn’t satisfactory anymore. He’s confident a bitcoin revolution is about to come, and he wants to be there when it happens.


He states:



A lot of people have lost their faith in the current monetary system, and I think that cryptocurrency is a big alternative for those people.



Still a Lot to Be Concerned About


He’s got a positive attitude, no doubt. The fact is that bitcoin has done quite well this year, jumping up from just under $4,000 in March to about $18,000 per coin at the time of writing. Many institutions are investing in it, and the asset is close to once again reaching its all-time high, but there are still many doubters out there who think Taihuttu is making the wrong move.


Campbell Harvey – finance professor at Duke University – says bitcoin has “five or six times the volatility of gold,” and that it’s hard to place a “fundamental value” on the cryptocurrency.


The post Didi Taihuttu and His Family Are Putting Everything They Have Into BTC appeared first on Live Bitcoin News.





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Bitcoin Targets $25,000 Fib Level With New All-Time High Set



Today, Bitcoin price set a new all-time high record. While that statement certainly speaks for itself, it does beg the question: what comes next?


Given the fact that this hurdle was the one the entire investor class was watching, and it is now out of the way, the most logical next target could be $25,000. Here’s why this number is significant and why there’s a strong probability that price heads there next.


All-Time High Broken, Bitcoin Price To Return To Price Discovery Mode


For nearly three full years, crypto investors have been waiting for this day and wondering if it would even happen. Holding Bitcoin has been a rocky ride for those that got in at the peak of the last bubble.


After the cryptocurrency tapped the current level, it fell to $3,000 a year later. A revisit back to that key level earlier in the year sealed the deal on a new uptrend and canned any chances of the cryptocurrency dropping lower.


Related Reading | Here’s What Will Happen To Altcoins Once Bitcoin Breaks $20,000


From that bounce caused a sharp uptrend and now – as of today – Bitcoin price has set a new record.


The leading cryptocurrency by market cap is now below the previous high, but a spike higher today set a new all-time high record. The feat is likely to make waves across the finance space, and lure in another wave of investors, until the asset peaks and does it all again.


But before the bull market truly takes off, the next logical level, according to one crypto analyst, is right below $25,000 at $24,800.


bitcoin btcusd btc


The 1.272 Fibonacci extension is the next logical target for Bitcoin price | Source: BTCUSD on TradingView.com


Why Cryptocurrencies And Other Assets Respond To Fibonacci Levels


According to crypto analyst Jamie Holmes, the next target resides at the 1.272 Fibonacci extension level. Beyond there, 1.618, 2.618, and 3.618 sit at $30,000, $50,000, and roughly $75,000 respectively, and could be next after the first extension is taken out.


Holmes accurately called for the retest of ATH after a “bullish saucer” formed on monthly timeframes. Now he’s pointing to $25,000 next.


During the last bull market, Bitcoin rose as high as the 19.618 Fibonacci level, which could suggest that these early extensions will be barely a blink for the now unstoppable cryptocurrency.


Related Reading | Fibonacci Day: How To Use Math To Trade Bitcoin And Altcoins


It isn’t exactly clear why Fibonacci ratios and their retracement levels and extensions act as support and resistance, but they do for all asset types.


Breaking through the 0.618 Fib retracement level at $13,800 is what set off the recent bullish impulse and send the cryptocurrency to a new all-time as of today.


The 0.618 level could once again become a target to watch, and this time act as support for any major corrections that follow from here.


Featured image from Deposit Photos, Charts from TradingView.com




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Venezuelan Army Starts Mining Bitcoin for 'Unblockable Income'






The Venezuelan Army has inaugurated a cryptocurrency mining center with bitcoin mining equipment aimed at generating “unblockable income,” as the country attempts to bypass U.S. sanctions. The crypto mining center has the support of the country’s crypto regulator, Sunacrip.


Venezuela’s Army Starts Cryptocurrency Mining


The Venezuelan Army’s cryptocurrency mining center was inaugurated on Nov. 19 by the 61st Agustín Codazzi Engineer Conditioning Brigade, according to local media.


The inauguration was led by the General of the Bolivarian Army Lenin Herrera, Commander of the Brigade. He was accompanied by Major General Domingo Hernández Lárez, Commander of the Bolivarian Army and one of the highest-ranking military personnel in Venezuela. Also present at the event were representatives of the Superintendencia Nacional de Criptoactivos y Actividades (Sunacrip), the regulator of the crypto sector in Venezuela, and the private company Crypto & Trading.


The Brigade posted a video on Instagram explaining its mining operations. “For the sake of strengthening and self-sustainability of our Bolivarian army, the harvesters of the 61st Agustín Codazzi Engineer Conditioning Brigade, proudly present the technological [blockchain] project of the Army’s digital asset production center,” it details, as translated by Bitcoin.com. The mining center has the support of more than 26 national legal norms, the country’s new anti-blockade law, Sunacrip, and the civic-military alliance.


The video continues:



The era of cryptocurrency production begins in all units of the military component, which will be unblockable income.



“These local mining farms and the miners’ refurbishment line allow production in real-time, defeating the fiat system, blocked and managed by colonialist interests that have affected the Venezuelan people,” the video concludes.




The Venezuelan National Constituent Assembly (ANC) approved the anti-blockade bill in October. The legislation was announced by Nicolas Maduro as a legal tool to combat U.S. sanctions against the Venezuelan economy.


The bill allows the Venezuelan government to “implement programs to ensure the investment from technicians, academics, businesses, workers’ councils and popular organizations in projects or alliances in strategic sectors,” local media described. It also allows the government to “suspend, in specific cases, legal norms that are inapplicable or counterproductive” due to sanctions.


What do you think about the Venezuelan Army mining bitcoin? Let us know in the comments section below.


Image Credits: Shutterstock, Pixabay, Wiki Commons, Venezuela’s Army



Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.






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Bitcoin Tramples Its 2017 Record High on Booming Institutional Adoption



Bitcoin achieved a new milestone on Monday.


The flagship cryptocurrency hit a fresh record high for the first time in three years as traders increased their bids in hopes of earning big profits. It was trading as high as $19,864 during the US session, up 9.16 percent on the day. That trampled its 2017 record high of $19,666, according to data fetched by Coinbase exchange.


Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin is rallying relentlessly for the last 10 months. Source: BTCUSD on TradingView.com
Bitcoin is rallying relentlessly for the last 10 months. Source: BTCUSD on TradingView.com

The surge came as a part of a bigger and broader rally that started in March 2020. In the month, the Federal Reserve and other central banks injected trillions of dollars into their capital markets. The move weakened the US dollar’s purchasing power.


Meanwhile, the banks also introduced ultra-low interest rates while committing to purchase Treasuries endlessly. That pushed the real yields of the safest government bonds lower, prompting investors to seek profits in riskier assets. Bitcoin, the riskiest among them all, benefited as a result. It surged by up to 415 percent between March and today.


Bitcoin Meets Wall Street


Many analysts agreed that the latest rally came in response to investors’ fears of inflation, coupled with an unsettling gold market.


Guggenheim Partners, a Wall Street investment firm, said it could invest up to $530 million into BTC via Grayscale’s Bitcoin Trust. Meanwhile, Real Vision Group CEO Raoul Pal, who was earlier critical of Bitcoin, switched sides by announcing that he is reshuffling his entire gold portfolio into the cryptocurrency market.



“Ok, [the] last bomb,” he tweeted, “I have a sell order in tomorrow to sell all my gold and to scale in to buy BTC and ETH (80/20). I don’t own anything else (except some bond calls and some $’s). 98% of my liquid net worth.”



Cameron Winklevoss, the co-founder of Gemini, a cryptocurrency exchange in the United States, said:



“Bitcoin is an emergent store of value that defends against inflation and has the potential to unseat gold. This means it could appreciate 25x in value from $19K. No other liquid asset in the universe can credibly offer this magnitude of asymmetric payoff in the next decade.”



The sentiment allowed Bitcoin to break above major resistance levels in a row on Monday. Nevertheless, the cryptocurrency also pulled back lower after topping out, led by short-term profit-taking behavior among daytraders.





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Count Guggenheim Partners Is Latest Institution to Turn to BTC



So many institutional companies have looked to bitcoin this year to attain their financial hopes and dreams, and now another one is being added to the list that already contains big names such as MicroStrategy and Square. The company is called Count Guggenheim Partners LLC, and it’s making a big bet on the world’s largest cryptocurrency by market cap.


Guggenheim Is Turning to Bitcoin


The firm is presently placing some of the money from its Macro Opportunities Fund – presently worth $5.3 billion at the time of writing – into the Grayscale Bitcoin Trust. Grayscale is specifically invested in BTC and regularly monitors the price and expenses associated with the digital currency.


In a statement, executives of Guggenheim mentioned:



The Guggenheim Macro Opportunities Fund may seek investment exposure to bitcoin indirectly through investing up to ten percent of its net asset value in Grayscale Bitcoin Trust.



The funny thing about the maneuver is that in the same statement, Guggenheim clearly admits that there are risks associated with digital assets, referring to them as “highly volatile.” The company also cites regulatory influence in the future as a potential cause for fear, along with more cryptocurrencies in the future that can offer competition and unregulated exchanges.


The executives continue to say:



Except for its investment in GBTC, the fund will not invest, directly or indirectly, in cryptocurrencies.



Clearly, the company appears rather concerned and worried about the status of bitcoin and its altcoin cousins. There is worry in the company’s words, so one can’t help but wonder why they’re even making this move in the first place.


Perhaps Guggenheim is quick to recognize that cryptocurrency is here to stay and jumping on the bitcoin bandwagon is likely to do it some good in the future despite the potential risks. If this is the case, that also explains why Guggenheim isn’t purchasing bitcoin flat out but is rather looking to gain some minor exposure at first through Grayscale. This will likely give it a taste of the crypto world without getting fully involved.


More Institutions Are Coming


Either way, it’s a positive step forward, and gives bitcoin a bit more institutional support before the year is out. 2020 has clearly been the era of institutions for crypto. Companies such as MicroStrategy have invested as much as $400 million in bitcoin, while others such as Square and Stone Ridge have placed anywhere between $50 and $100 million into the asset.


For the first time in a while, bitcoin is now being viewed not just as a speculative asset that can potentially diversify one’s portfolio, but rather as a store of value that can hedge one’s wealth against inflation and other harsh economic circumstances. Granted bitcoin can sustain this reputation, there is no reason that the asset cannot once again reach its all-time high and beyond.


The post Count Guggenheim Partners Is Latest Institution to Turn to BTC appeared first on Live Bitcoin News.





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Video: Bitcoin Hardware And Security With Cobo’s Lixin Liu



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This episode of Bitcoin Magazine’s Bitcoin In Asia featured Lixin Liu, the head of hardware at Cobo and the creator of the Cobo Vault, out of Shanghai.


Lixin’s background in hardware and international product development, most recently in robotics with Hover Camera, made him the preferred choice of F2Pool and Cobo Founder Discus Fish when he decided to get into the Bitcoin hardware and security game.


Lixin and I discussed building out Bitcoin hardware from the ground up and why it is valuable to the Bitcoin network to have increasing competition in the hardware product space, the difference between what Chinese miners and Western retail users want in hardware products, trends he is seeing in institutional custody interest in Asia and more. 


The post Video: Bitcoin Hardware And Security With Cobo’s Lixin Liu appeared first on Bitcoin Magazine.





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Get Extra Bonus When You Set Good Price



A cryptocurrency exchange provides a platform for people to buy/sell cryptocurrencies in a safe environment. An exchange is only functional if there are enough people to trade, especially if it’s a P2P exchange. The market makers are the category of traders that provides liquidity for the exchange, by placing buy/sell ads on the platform. This liquidity is what makes an exchange functional.


                                               Remitano Top Ads Bonus Program


Remitano is a P2P crypto exchange, as such; the market makers determine the prices of cryptocurrencies. Remitano is encouraging market makers to offer more competitive prices by giving bonuses to those makers whose Ad appears as Top Ads (based on its price attractiveness).


For this reason, Remitano wants to show recognition and gratitude to the “top P2P makers” by launching the Remitano Top Ads Bonus program. This will give our top P2P market makers an amazing chance to get a bonus on every minute of your Buying/Selling Ads. Sounds interesting, doesn’t it?


  • Joining time: 01 Nov – 30 Nov 2020

  • For Malaysian traders only

Bonus:


During the activity period, all of the P2P makers who buy or sell Bitcoin in Malaysia with buying/selling Ads listed in the top 5 will be eligible to receive 0.003 USDT for every minute in which their Ads maintain on the top 5.


Who are the Market Markers?


These are the people that place their buy/sell ads on the Remitano platform for interested persons to select and begin trade. The market markers set the tone for the market because if their prices are attractive, there will be more frequent transactions. E.g if the market makers place a sell bitcoin Ad that is competitive with other exchanges, it will drive transaction volume, same with market markers that puts an attractive buy bitcoin Ad.


                                 5 Reasons to Trade Cryptocurrency on Remitano


  1. The Remitano P2P platform can be accessed from over 40 countries worldwide and counting. That means you can access a more global market, and even transfer money internationally on Remitano.

  2. Remitano also has a fiat wallet feature for some select countries and counting. With this feature you can sell your coins anytime of the day, and withdraw anytime of the day.

  3. The Remitano platform also has robust security architecture, with constant improvement of our user interface to meet the expectations of our users.

  4. Remitano also has a 24/7 professional customer support team from diverse backgrounds to swiftly resolve all trade disputes.

  5. Apart from making money while you trade, Remitano also has lots of exciting minigame activities that will help you learn a lot about the crypto world, and win some cash prizes at the end.

About Remitano 


Remitano is a product of Babylons Solutions Limited based in Seychelles. Remitano’s mission is to offer a robust, quality trading experience to all users as a fast-moving marketplace. With necessary safety standards in place, buyers and sellers can come together, store, trade, and withdraw assets, thus avoiding issues common to other crypto exchanges.


Launched in 2014, Remitano is a global cryptocurrency exchange serving international markets, such as Malaysia, China, Nigeria, Vietnam, Australia, Cambodia, and Indonesia.


Got Questions?


Reach out to Remitano via:


  • Email: team@remitano.com, marketing@remitano.com

  • Socials: Facebook, Twitter, Reddit, and LinkedIn.

 


The post Get Extra Bonus When You Set Good Price appeared first on Live Bitcoin News.





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Bitcoin Explodes to Fresh All-Time High; Here’s What Could Come Next



Following what is described as an “epic bear trap” to $16,400, Bitcoin has officially set a fresh all-time high.


The benchmark digital asset has never traded as a price this high on the spot market before, with bulls now trying to push it above $20,000. It does appear to be facing some resistance as it navigates into this price region, with bears ardently attempting to fade the movement.


Regardless of whether they are successful, the cryptocurrency’s historic move higher this morning will likely market a macro turning point for BTC and the entire crypto market.


Once $20,000 is broken above, there’s a strong likelihood that it will enter price discovery mode and see some serious upside. Parabolic advances like the one it is currently caught within often end in an asset’s price multiplying, which could mean that this is just the beginning of a much larger move.


One trader is now noting that BTC could be well-poised to see some immense upside in the near-term, with the latest decline simply being a bear trap that cleared out over-leveraged long positions and reset the sentiment surrounding the crypto.


Bitcoin Explodes Towards $20,000; Sets Fresh All-Time Highs


At the time of writing, Bitcoin is trading up just over 7% at its current price of $19,500. This marks a slight decline from highs of $19,800 that were set just a few minutes ago.


These highs marked fresh all-time highs for spot BTC, but it does appear that bears are putting up a defense of the upper-$20,000 region.


Typically, once an asset sets fresh all-time highs, it enters a price discovery mode that leads it to see significantly further gains.


This will likely take place for BTC once $20,000 has been firmly broken above and established as a support level.


BTC Rallies on the Heels of an “Epic Bear Trap”


A few days ago, Bitcoin’s price reeled from the mid-$19,000 region to lows of $16,400.


This shifted the market’s sentiment and led many investors to believe that BTC had posted a local top.


One analyst spoke about this move in a recent tweet, calling it an “epic bear trap”



“BTC: Bitcoin price crushing the daily high. Yeah, that move down to $16k was an epic bear trap to try and shake people out before $20k.”



Bitcoin


Image Courtesy of Josh Rager. Source: BTCUSD on TradingView.

The coming few days should provide insights into Bitcoin’s macro-outlook. Whether or not it can break above $20,000 and flip this into support will likely determine how it trends into the end of the year.


Featured image from Unsplash.
Charts from TradingView.




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Bitcoin Crushes Previous All-Time Price Highs Surpassing 2017's Bull Run






Digital currency markets are on a tear this week, as a myriad of crypto assets have seen enormous gains during the last two days. Then finally, on November 30, 2020, the largest blockchain in terms of market cap, bitcoin (BTC) surpassed the crypto asset’s 2017 all-time highs (ATH) after crossing the highly anticipated $19,860 zone on Monday morning (EST).


  • The entire cryptocurrency economy has spiked in value considerably and on Monday, November 30, 2020, as there’s over $34 billion in global trade volume. Moreover, out of the 7,500+ crypto-assets in existence, the market valuation is hovering well above the $547 billion zone.

  • Bitcoin (BTC) prices have touched a lifetime all-time high surpassing $19,666 per unit (Bitstamp ATH) on Monday, November 30, 2020, by reaching $19,864. The crypto asset is up over 8% during the last 24 hours, 5% for the week, and over 40% during the last 30 days.

Bitcoin Crushes Previous All-Time Price Highs Surpassing 2017's Bull Run
Bitcoin (BTC) chart on November 30, 2020. Data stems from the exchange Bitstamp. 1-day BTC/USD chart. All-time high price is based on the exchange Bitstamp’s ATH record on December 17, 2017.
  • Despite BTC’s price lift, the coin’s dominance index (market cap value measured against the entire valuation of all crypto markets) remains at 63% today. Bitcoin’s dominance index has not increased higher, because numerous altcoins have seen massive gains during the last 48 hours.

  • At a current price of over $19,500 per unit, bitcoin’s market cap today is hovering at around $362 billion. BTC’s market cap is larger than each of the world’s four largest banks; JPMorgan Chase USA, ICBC China, BAC USA, and CCB China.

  • BTC’s SHA256 hashrate (processing power) is coasting along at 130 exahash per second (EH/s) and there are 17 mining pools pointing hashrate at the network. Mining on the bitcoin (BTC) is difficult today as the difficulty metric is 19.16 trillion but in 13 days, it’s expected to increase to over 20 trillion.

  • Bitcoin’s issuance rate or inflation rate has dropped considerably since the third block reward halving this past May. Back then the inflation rate was hovering at around 3.6 to 3.8% and on Tuesday in late November, the inflation rate is now 2.69% and continues to shrink.

Bitcoin Crushes Previous All-Time Price Highs Surpassing 2017's Bull Run
Bitcoin (BTC) chart on November 30, 2020. Data stems from the exchange Bitstamp. 1-week BTC/USD chart.
  • “The narrative of bitcoin as a safe alternative to traditional finances is being established without a doubt,” Vijay Ayyar, Head of Asia Pacific & Luno Exchange at Luno told news.Bitcoin.com. “Gold is starting to become less relevant especially for the younger population and investors and this shift from Gold to bitcoin has just begun.”

  • The second-largest blockchain, in terms of market cap, ethereum has increased a great deal in value during the last week. Ether is trading between $590 to $600 per ETH and the crypto asset is up 0.54% this week and 58% for the last 30 days. Ethereum’s market valuation on November 30 is roughly $67 billion.

  • The third position held by XRP has seen a jump of over 8% during the last week. XRP is currently swapping for $0.64 per unit and 30-day stats show XRP has climbed over 94% to get to its current position. XRP’s moves have managed to push tether (USDT) down a notch to the fourth-largest position.

  • The fifth-largest blockchain, in terms of market cap, belongs to bitcoin cash (BCH) on Monday, November 30. BCH has a liquid market cap of over $5.5 billion and each coin is trading between $290 to $301 per unit. Bitcoin cash prices are still down over 5% during the last seven days and just above 16% for the last 30 days.

  • At the time of publication, bitcoin (BTC) has slipped back some after touching the high on Monday and is currently swapping for $19,500 per coin. A second attempt to break the $20k price zone could very well be in the cards later today.

Check out all the crypto price action today in real-time by leveraging markets.Bitcoin.com for the latest values on your favorite digital assets.


What do you think about the recent gains stemming from crypto markets and bitcoin’s latest all-time high? Let us know what you think about this subject in the comments section below.





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Image Credits: Shutterstock, Pixabay, Wiki Commons, Bitcoinwisdom.io,



Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.






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Bitcoin Price Hits All-Time High



Bitcoin has hit a new all-time highest price relative to USD as listed on Bitstamp, eclipsing its previous high of $19,666.00 set on the exchange on December 13, 2017.


The specific price of BTC relative to fiat currency at any given time depends on the rate set by specific exchanges, and the listed all-time high price or price at any given time depends on the particular data set referenced. Though Bitstamp does not list the highest all-time bitcoin price of any exchange (Bitfinex, for instance, listed bitcoin at $19,891 on December 11, 2017), its data stream represents one of the longest-operating bitcoin exchanges in history.


The all-time high mark set today represents a major milestone in a bitcoin bull market that started in early March 2020, when the price rallied from a low in the $3,000 range. Since then, it has reached more than six times its value in less than nine months. Bitcoin set an all-time market capitalization high on November 17, 2020.


Though bitcoin is a monetary system in and of itself, that is not reliant on value relative to USD or any other fiat system, the USD price of 1 BTC is a popular metric for signalling the growing acceptance of Bitcoin. By many measures, bitcoin has been the single-best performing financial asset in the world since it was introduced by Satoshi Nakamoto in January 2009.


The post Bitcoin Price Hits All-Time High appeared first on Bitcoin Magazine.





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Bitcoin at “Last Line of Defense” Before ATH as it Hits $19,300: Analysts



The price of Bitcoin has surpassed $19,300 once again, after dropping to as low as $16,200 on November 26. Following BTC’s surprising intraday rally, analysts say it is preparing for an all-time high.


There were convincing arguments for both bearish and bullish short-term projections for BTC. Most notably, when BTC dropped down to $16,200, it broke out of the recent parabola. This meant that BTC was at risk of either a large correction or beginning a new uptrend.


So far, based on the strength of BTC’s upward movement, market trends show that it could begin a new parabolic rally.


bitcoin


The daily price chart of Bitcoin. Source: BTCUSDT on TradingView.com

What Happens When Bitcoin Breaks $19,400?


There are two main scenarios for Bitcoin in the near term. First, BTC breaks $19,400, head towards the all-time high, and test the $20,000 level.


Second, BTC rejects $19,400 again, it ranges in the near term and consolidates, as it attempts to break out once again


But, if Bitcoin surges past $19,400, a technical analyst and trader known as “Bitcoin Jack” said an all-time high becomes more likely. He said:



“I hate to say it but BTC is literally at its last lines of defense before making ATH Volume is picking up, bullish breakouts on the LTF Failure to see a rejection at 19K and there is pretty much nothing that stand in its way Good game bulls.”



Why BTC Rose so Quickly


The primary reason behind the current rally of Bitcoin seems to be a large-scale short squeeze.


Prior to the rally, across major cryptocurrency exchanges including Binance Futures, BTC saw large short positions get liquidated.


When a short position gets liquidated, it forces the holder to market buy the position. As such, shorts can turn into short-term buyer demand for BTC in a short period.


A pseudonymous trader known as “Byzantine General” said:


“[Binance] is going for round 2. Coinbase & Finex have entered the chat. 18900 – 19000 will be a bloodbath.”


In the near term, the two key resistance levels for Bitcoin are at $19,400 and $20,000, both of which would likely see a strong reaction from the market.





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Guggenheim Investment Fund to Invest $497 Million in Grayscale's GBTC Seeking Bitcoin Exposure






Guggenheim’s billion-dollar Marco Opportunities Fund (MOF) may seek indirect exposure to BTC through the investment of 10% of its net asset value into Grayscale’s BTC Trust (GBTC). The investment (when complete) means MOF will have committed as much as $497 million into the GBTC.


In a November 27 amended prospectus filing with the U.S. SEC, Guggenheim explains the rationale for seeking indirect exposure to BTC. According to the explanation, Guggenheim’s MOF wants to achieve its investment objective by “investing in a wide range of fixed-income and other debt and equity securities.” This includes exposure to cryptocurrencies which the fund’s management believes will “offer (an) attractive yield and/or capital appreciation potential.”


Still, in the same filing, the investment company acknowledges the risks associated with investing in cryptocurrencies in general. Consequently, management says the “Fund’s exposure to cryptocurrency may change over time.”


Also, as regulators zero in on cryptocurrencies and in particular crypto exchanges, Guggenheim hints this will have a bearing on the fund’s decision-making process. The document explains the fund’s understanding as follows:



Cryptocurrency is a new technological innovation with a limited history; it is a highly speculative asset and future regulatory actions or policies may limit, perhaps to a materially adverse extent, the value of the fund’s indirect investment in cryptocurrency and the ability to exchange a cryptocurrency or utilize it for payments.



Better Understanding of the Risks


Meanwhile, the filing also details the tax implications that may arise as a consequence of being exposed to the highly volatile BTC.


Although Guggenheim MOF is not directly buying BTC, still the commitment by a large institutional investor to put 10% of the fund’s net worth indirectly into BTC is another milestone for the top crypto. The approximately half a billion-dollar commitment suggests that many larger investors now understand not only the advantages, but also the risks associated with the inclusion of cryptocurrencies in their portfolios.


What are your thoughts about Guggenheim MOF’s intention to get exposed to BTC via GBTC? Share your views in the comments section below.


Image Credits: Shutterstock, Pixabay, Wiki Commons



Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.






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Bullish Indictor Prepares Yearn Finance (YFI) For Record High; Here’s How



According to a textbook bullish indicator, Yearn Finance’s governance token YFI is preparing to target its all-time high.


Dubbed as “Ascending Triangle,” the pattern envisions YFI/USD just shy of $44,000, a record high achieved mid-September following the pair’s supersonic bull run. It anticipates YFI/USD to hold support near its ascending trendline while testing its horizontal base level as resistance.


Later, the pattern expects the pair to attempt a breakout move above the resistance level.


YFI, YFIUSD, YFIBTC, YFIUSDT, cryptocurrency


Yearn Finance Ascending Triangle pattern (in black). Source:  YFIUSD on TradingView.com

In retrospect, the Ascending Triangle is a continuation pattern that appears in the middle of a trend. Traders anticipate the market to continue in the direction of its previous trend. Therefore, they develop their trade setups accordingly.


YFI is in an uptrend. And it is now forming a rising lower trendline and a flat upper trendline. It indicates that the buyers — at present — are more aggressive than the sellers. Their continued testing of the resistance trendline weakens the level. So eventually, YFI will breakout to the upside.


Technically, the breakout’s extent will depend on the maximum height between the upper and the lower trendline. In YFI’s case, it is close to $15,000. Therefore, the Ascending Triangle’s breakout target is about $15,000 above the resistance trendline. That is just shy of $44,000 — as stated above.


Conflicting YFI Setup


As bulls eye a record high for the Yearn Finance token, they may avoid a bearish reversal pattern developing right around the Ascending Triangle.


Dubbed as Head and Shoulder, the pattern sees YFI/USD trading upward towards the $30,000-32,000 range. But thereon, it expects the pair to reverse its trend entirely to retest its neckline (the ascending trendline in black) for a negative breakout move.


YFI, YFIUSD, YFIBTC, YFIUSDT, cryptocurrency
Yearn Finance Head & Shoulder pattern. Source: YFIUSD on TradingView.com
Yearn Finance Head & Shoulder pattern. Source: YFIUSD on TradingView.com

Like in the Ascending Triangle’s case, a breakout’s target in Head and Shoulder is as far as the maximum height of the pattern. That roughly puts the YFI/USD en route to $14,729.





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Quick Guide — How to Troubleshoot Active Directory Account Lockouts





Active Directory account lockouts can be hugely problematic for organizations. There have been documented instances of attackers leveraging the account lockout feature in a type of denial of service attack. By intentionally entering numerous bad passwords, attackers can theoretically lock all of the users out of their accounts.


But what do you do if you are experiencing problems with account lockouts?


The Windows operating system is somewhat limited in its ability to troubleshoot account lockouts, but there are some things that you can do. For example, you can use Windows PowerShell to determine which accounts have been locked out. The command for doing so is:


Search-ADAccount -LockedOut -UsersOnly | Select-Object Name, SamAccountName


Incidentally, the UsersOnly parameter prevents computer objects from being included in the results, while the Select-Object command filters the results list to display only the user’s name and their account name.


If you find that accounts have been locked out, then there are a couple of ways of unlocking them. You can unlock accounts one at a time by using this command:


Unlock-ADAccount -Identity <username>


If, on the other hand, you need to unlock user accounts in bulk, then you can do so with this command:


Search-ADAccount –LockedOut | Unlock-ADAccount


While it is undeniably important to be able to unlock user accounts, it is equally important to be able to find out why accounts were locked out in the first place. You can gain a little bit of insight into the problem by using a variation of the Search-ADAccount command that you saw a moment ago:


Search-ADAccount -LockedOut | Select-Object *


This command will display additional information about all of the accounts that have been locked out. You can use this information to find out when the user last logged on and whether the user’s password is expired. Because this command can return a lot of data, you may find it helpful to write the results to a CSV file. Here is an example of how to do so:


Search-ADAccount -LockedOut | Select-Object * | Export-CSV -Path c:templockout.csv


It is possible to go further with Active Directory lockout troubleshooting using the native Windows tools, but in order to do so, you’re going to need to make a change to your group policy settings prior to lockouts occurring. Oddly enough, account lockouts are not logged by default.


You can enable logging by opening the Group Policy Editor and navigating through the console tree to Computer Configuration | Windows Settings | Security Settings | Advanced Audit Policy Configuration | System Audit Policies | Account Management. Now, enable both success and failure auditing for user account management.


Once the new group policy setting has been applied across the domain, it will cause event number 4740 to be written to the Security event log any time that an account becomes locked out.


Get-WinEvent -FilterHashtable @logname=”Security”; ID=4740


There is a good chance that this command will produce an overwhelming number of results. You can use the Select-Object cmdlet to limit the number of results shown. If, for instance, you only want to see the ten most recent results, you could use this command:


Get-WinEvent -FilterHashtable @logname=”Security”; ID=4740 | Select-Object UserID, Message -Last 10


Notice that I also included references to UserID and Message in the Select-Object cmdlet. The UserID will cause the username to be displayed, and the reference to Message will cause PowerShell to display detailed information about the event. Perhaps the most useful item displayed in the message is the Caller Computer Name, which reflects the name of the machine that caused the user account to be locked out. If necessary, you can also use the TimeCreated property to find out when the lockout occurred.


The command shown above can sometimes cut off the Message. If this happens to you, you can get around this problem by appending the Format-List command, as shown below:


Get-WinEvent -FilterHashtable @logname=”Security”; ID=4740 | Select-Object UserID, Message -Last 10 | Format-List


As you can see, Windows is limited in its ability to help you to troubleshoot account lockout problems. If you are consistently experiencing account lockout issues and need additional troubleshooting capabilities or if you, like many other organizations, are experiencing an increase in account lockout related calls during the global pandemic, then you might consider checking out some of the third-party tools that are available such as a self-service password reset solution.


Identifying what is driving lockouts and rectifying the issue is one part of the equation. To address the issue holistically, IT departments need to provide users with the ability to unlock their own accounts securely, anytime, anywhere.







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Don’t Get Hoodwinked by Hidden Bitcoin Trading Fees



Traders are flocking to Bitcoin in search of digital gold, but the journey can be costly and confusing, with hidden fees and cumbersome interfaces, making it difficult to navigate the market successfully.


eToro makes cryptocurrency trading costs crystal clear. There are no fees buried in the fine print, and an intuitive user interface helps you avoid expensive misclicks.


Be aware of hidden fees


On eToro, trading costs are contained in a single charge. The percentage of the spread for buy and sell is the entire cost of the trade — zero fees, no hidden fees, nothing!


Depositing US dollars on eToro is completely free, and a flat fee of $5 is charged to cover the processing cost of withdrawals. If you are depositing in another currency, an FX conversion fee may apply, but costs are made clear in advance, unlike other platforms that often levy unstated conversion fees.


















Fee example
Initial investment$2,000 USD
BTC buy price*$20,000 USD
Position size0.1 units
eToro typical spread for BTC0.75%
Total round trip (buy and sell) fees:$15 USD
(0.75% *20,000 USD * 0.1 units)

*Example price


To buy and sell 0.1 unit of Bitcoin in a round trip when the price is at $20K, you would pay a single spread fee of 0.75%, or $15 USD.


Most other trading platforms charge a set commission as a percentage of the position size. But high spreads — the difference between the buying and selling price — mean the real cost is higher.


In addition, account maintenance and inactivity fees can be hidden away in the terms and conditions, eating into profits and adding to losses each time you place a trade.


Even depositing funds can cost up to 5%, with traders often paying their card service providers significantly more for the convenience of paying by card, leaving them with a loss before they have even started trading.


When the time comes to withdraw, traders can be hit with more costs, paying super high flat fees to send funds back to a bank account.


With eToro, we take care to do things as clearly and as simply as possible — you pay only for the spread, with no additional transaction fees.


Smoothly navigate the market


Instead of a complex interface that leaves new traders one misclick from disaster, eToro offers a seamless user experience.


Traders can engage with the basic mechanics of the Bitcoin market through a streamlined process that begins the moment funds are deposited.


eToro is one of the only exchanges supporting PayPal, along with multiple other deposit methods, including bank transfer, card payment, Skrill, Neteller, WebMoney, and Yandex (depending on region). With funds on the platform, you can then buy and sell easily through an intuitive and user-friendly interface, making managing your portfolio completely painless.


To test the water, eToro gives you a free $100,000 demo account. This lets you build a virtual portfolio and test innovations like copy trading, risk free.


This unique trading toolkit, combined with clear pricing and an intuitive user interface, means Bitcoin trading is no longer costly and confusing.


This ad promotes crypto investing, which is highly volatile and unregulated. Trading cryptoassets with leverage is regulated and comes with a high risk of losing money. Buying cryptoassets is unregulated in most EU countries and therefore is not supervised by EU regulatory frameworks and carries no EU protections. Your capital is at risk.


Image by Christel SAGNIEZ from Pixabay




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Aave Surges 20% as DeFi Coins Begin Resurgence, Following Ethereum Rally



Top decentralized finance (DeFi) coins such as AAVE are outperforming over the past day. While Bitcoin and Ethereum are both up massively today, AAVE is up 18.5% in the past 24 hours alone. This performance makes it the best-performing digital asset in the top 100 by market capitalization. AAVE is now up by approximately 10% on the week, per CoinGecko data.


This rally highlights a growing/continued interest in DeFi, which has continued to gain fundamental strength despite shaky price action. The number of DeFi users is soon expected to reach one million, by some estimates, making it one of the first crypto technologies to be adopted by many.


Aave stands to benefit from this trend as it sits at the core of the ecosystem as a money market for lending and borrowing.


Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom

AAVE Erupts 20% Higher


AAVE is up 20% in the past 24 hours alone amid strength in the price of ETH.


Ethereum has gained around 5% in the past 24 hours, pushing to $580 after consolidating under $540 for a number of days.


These gains to be trickling down to top Ethereum-based coins such as AAVE.


AAVE is one of the leading Ethereum-based, DeFi coins, touting a valuation of $890 million. It is a governance token that allows users to govern the Aave protocol; the coin is also used as a backstop for the protocol in case of a glitch.


This latest leg higher comes as Aave has set a key milestone. As pointed out by Marc Zeller, who is part of the Aave core team:



“The 3 comas club has a brand new member with the @AaveAave Flash loans. 1 Billion thanks to all the devs being pioneers of innovation, @DeFiSaver @fifikobayashi, and all the others. Can’t wait to see y’all all experiment with Seamless Loans made possible with  @AaveAave v2.”



Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin

DeFi Back in Vogue


This rally comes as the fundamentals of the DeFi space have continued to improve at a rapid clip.


According to top data tracker DeFi Pulse, the total locked value of coins in decentralized finance contracts just surmounted $14 billion.


This is up from approximately $500 million, where this metric started in 2020.


Analysts are optimistic that there will be further growth in the DeFi space amid positive technological and price developments. This should result in further growth in the values of top coins pertaining to the space.


Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing

Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
Aave Surges 20% as DeFi Coins Begin Resurgence, Following Ethereum Rally




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Stellar Lumen (XLM) Price Could Surge Again If It Clears $0.21



  • Stellar lumen price is trading in a nice bullish zone well above $0.1500 against the US Dollar.

  • XLM price is facing hurdles near $0.2100, but it is well above the 55 simple moving average (4-hours).

  • There is a major bearish trend line forming with resistance near $0.2080 on the 4-hours chart (data feed via Kraken).

  • The pair could rise sharply if it clears the $0.2000, $0.2080, and $0.2100 resistance levels.

Stellar lumen price is rising again and trading above $0.1800 against the US Dollar, similar to bitcoin above $18K. XLM price is likely to continue higher if it clears $0.2100.


Stellar Lumen Price Analysis (XLM to USD)


In the past few days, stellar lumen price gained pace above the $0.1200 and $0.1500 against the US Dollar. The XLM/USD pair even surged above the $0.2000 resistance and settled well above the 55 simple moving average (4-hours).


The price traded as high as $0.2310 before starting a sharp downside correction. It declined below $0.1800 and retested the $0.1500 support. A low was formed near $0.1452 before the price started a fresh increase.


There was a clear break above the $0.1650 resistance level and the 55 simple moving average (4-hours). The price even broke $0.2000 and traded as high as $0.2203. It is currently correcting gains and trading near the $0.1950 level.


Stellar corrected below the 23.6% Fibonacci retracement level of the recent rise from the $0.1452 low to $0.2203 high. An initial support on the downside is near the $0.1900 level. The first major support is near the $0.1820 level.


The 50% Fibonacci retracement level of the recent rise from the $0.1452 low to $0.2203 high is also near the $0.1820 level to provide support. Any more losses could lead the price towards the $0.1650 support or the 55 simple moving average (4-hours).


On the upside, the price is facing hurdles near the $0.2000 and $0.2100 levels. There is also a major bearish trend line forming with resistance near $0.2080 on the 4-hours chart. If there is upside break above the $0.2000 and $0.2100 resistance levels, the price could continue to grind higher.


Stellar Lumen (XLM) Price

Stellar Lumen (XLM) Price



The chart indicates that XLM price is clearly trading in a nice bullish zone well above $0.1500 and the 55 simple moving average (4-hours). Overall, the price could rise sharply if it clears the $0.2000, $0.2080, and $0.2100 resistance levels.


Technical Indicators


4 hours MACD – The MACD for XLM/USD is showing positive signs in the bullish zone.


4 hours RSI – The RSI for XLM/USD is now well above the 50 level.


Key Support Levels – $0.1900 and $0.1820.


Key Resistance Levels – $0.2000, $0.2100 and $0.2320.


The post Stellar Lumen (XLM) Price Could Surge Again If It Clears $0.21 appeared first on Live Bitcoin News.





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Fighting Definancialization: Cryptologic Methods Like Bitcoin Could Protect Wealth From the Great Reset






The Great Reset agenda is trending once again on social media, numerous news outlets, and a variety of online forums. During the last few months, the Great Reset proposal has been pushed worldwide, as it allegedly seeks to create a sustainable economy following the coronavirus pandemic. Meanwhile, a great number of people are skeptical of the reboot proposal, as detractors believe the Great Reset is an assault against capitalism and basic financial liberties.


Skeptics Are Speaking Out Against the Great Reset


A myriad of individuals and news organizations have been discussing the Great Reset, a proposal that was first introduced by the World Economic Forum (WEF) and the and WEF director Klaus Schwab. News.Bitcoin.com has published a few editorials about the subject and some of the events that are seemingly pushing the Great Reset closer toward reality. Moreover, our newsdesk also looked at the pushback against the reset movement and why people believe the proposal is a steadfast plan to usher in a new world order.



The topic is still trending heavily on social media and forums as a great number of skeptics are wary of the reboot concept. It is being said that the Covid-19 pandemic and subsequent lockdowns are all part of the reset plan to keep the populace “submissive.” Great Reset detractors also believe that the proposal is an attack on free-market enterprise, and it is also leveraging climate change fear to push the agenda.


For instance, Breitbart columnist James Delingpole tweeted about the Great Reset after the former Prime Minister of the United Kingdom, Boris Johnson talked about carbon emissions in Colombia. Delingpole said:



You absolutely disgusting imbecile. We want our jobs, our businesses, our economy back – not your Great Reset.



Delingpole is not the only columnist speaking out against the Great Reset agenda. Cindy Simpson from the publication, American Thinker, has also been tweeting about the subject with skepticism. After New Mexico’s government shut down groceries stores for two weeks, Simpson said: “Step by step, weeks to months, the lockdowns are teaching citizens that they’re really just subjects, totally dependent on the state–the perfect, submissive new normal condition to enable the Great Reset.”


Meanwhile across Europe, Britain, Canada, the United States, and many other nations Covid-19 lockdowns are ramping up again. U.S. President-elect Joe Biden has been telling the press that he will mandate masks nationwide and his advisor says he plans to enact a six-week Covid-19 lockdown.


After the This Year’s Craziness, Anyone Speaking Up Is Now Considered a Conspiracy Theorist


Podcaster Aubrey Huff told his 239,000 Twitter followers that the ultimate plan is to forcefully usher in socialism. “The plan with this overblown virus [and] tyrannical lockdowns has always been to make small businesses, [and] middle-class families broke, [and] desperate,” Huff tweeted. “Why? So that they will have no choice but to accept socialism.” In response to Huff’s Twitter statement, many of his followers discussed the Great Reset.


Basically, the Great Reset consists of a threefold effort that starts with a “stakeholder economy,” which aims to circumvent economic inequality. The second component is making sure all investments created in this new economy bolster sustainability and equality. Lastly, the third part of the agenda consists of strengthening the Fourth Industrial Revolution. WEF director Klaus Schwab gives insight into this concept by stating:



The third and final priority of a Great Reset agenda is to harness the innovations of the Fourth Industrial Revolution to support the public good, especially by addressing health and social challenges. During the COVID-19 crisis, companies, universities, and others have joined forces to develop diagnostics, therapeutics, and possible vaccines; establish testing centers; create mechanisms for tracing infections; and deliver telemedicine. Imagine what could be possible if similar concerted efforts were made in every sector.



Of course, anyone who complains that the Great Reset is an assault against the free market and civil liberties is called a “conspiracy theorist.” For instance, the Wikipedia page that is dedicated to the Great Reset proposal discusses the controversy and immediately calls the theories unfounded.


“[The Great Reset] has been criticized for using the pandemic to implement a risky experiment and a petition to stop it gained 80,000 signatures in less than 72 hours,” the Wikipedia article says. “A baseless conspiracy theory has spread in response, claiming it will be used to bring in socialist and environmental changes and a supposed new world order,” the Wikipedia editor adds.



‘Society Is Being Organized by and for Principal Interest Groups Called Stakeholders’


Despite the deflection, many journalists are discussing the theory more regulary and noting that the skeptic’s conspiracies might be legitimate. For instance, on November 27, the National Review columnist Andrew Stuttaford wrote an editorial about the subject and called it: “The Great Reset: If Only It Were Just a Conspiracy.”


Stuttaford says that the Great Reset is merely just calling corporatism another name. The author details a great number of corporate partners who are backing the Great Reset proposal such as firms like Deloitte, Apple, Microsoft, Ericsson, Lockheed Martin, IKEA, Facebook, and IBM. Moreover, Stuttaford authored a previous article that describes what corporatism is and how it dodges individualism for the collective.


“[Corporatism is a] hydra-headed ideology with origins in the premodern, and a very mixed past — sometimes benignly (it influenced the formation of West Germany’s social market economy) and sometimes not (it was an important element in pre-war fascist theory),” Stuttaford explains. “The different forms corporatism has taken make it tricky to define with precision, but they share a common core: the conviction that society should be organized by and for its principal interest groups — let’s call them “stakeholders” — intermediated by, and ultimately subordinate to, the state. The individual does not get a look in,” the National Review contributor added.


Stuttaford’s column concludes by saying that society has been hearing about this vision for a long time using many variants. Fringes like climate change, stakeholder capitalism, and definancialization have taken the center stage worldwide, “and not only in front of the Davos crowd,” Stuttaford insists.


Technologies Like Encryption and Bitcoin Can Fundamentally Alter the Nature of Corporate and Government Interference


Numerous free-market advocates including cryptocurrency proponents believe the Great Reset is an immoral concept and technologies like bitcoin are meant to defend people’s wealth from definancialization. For years now sound economists, libertarians, and free-thinking individuals have warned the masses about the globalist elite pulling dirty tricks.



The original cypherpunks knew, that while the internet was and still is being leveraged for mass surveillance, the world wide web and certain technologies like encryption and digital cash could help bolster privacy and financial liberties. Back in 1988, the software engineer Timothy C. May discussed how technology will help stop totalitarian nation-states and corporate entities from interfering with the sovereign individual. May said:



Just as the technology of printing altered and reduced the power of medieval guilds and the social power structure, so too will cryptologic methods fundamentally alter the nature of corporations and of government interference in economic transactions.



While globalists push their unwanted agendas, in time privacy advocates and crypto-anarchists will create a liquid market for all material, May insisted. “And just as a seemingly minor invention like barbed wire made possible the fencing-off of vast ranches and farms, thus altering forever the concepts of land and property rights in the frontier West,” May stressed. “So too will the seemingly minor discovery out of an arcane branch of mathematics come to be the wire clippers which dismantle the barbed wire around intellectual property.”


What do you think about the theories surrounding the Great Reset proposal and the skeptics who are against it? Let us know what you think about this subject in the comments section below.





Tags in this story


Andrew Stuttaford, Aubrey Huff, Boris Johnson, Cindy Simpson, collectivism, communism, Corporatism, COVID-19, Covid-19: The Great Reset, Fascism, Financial Reboot, Financial Reset, Great Reset, James Delingpole, Klaus Schwab, Lockdowns, masks, propaganda, Socialism, stakeholder economics, Timothy C. May, WEF, WEF Davos, World Economic Forum



Image Credits: Shutterstock, Pixabay, Wiki Commons



Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.








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Charted: Chainlink (LINK) Looks Ready For Another Leg Higher Over $15



Chainlink (LINK) remained stable above the $11.50 support and started a fresh increase, similar to bitcoin. The price is now trading above $13.50 and it could continue to rise above $15.00.


  • Chainlink token price regained traction and climbed above $13.00 against the US dollar.

  • The price is now trading above $13.50 and settled above the 100 simple moving average (4-hours).

  • There is a key bullish trend line forming with support near $13.50 on the 4-hours chart of the LINK/USD pair (data source from Kraken).

  • The price is likely to continue higher above the $14.50 and $15.00 resistance levels.

Chainlink (LINK) Is Gaining Momentum


This past week, we saw a sharp downside correction in bitcoin, Ethereum, ripple, bitcoin cash, chainlink (LINK), and other major altcoins. LINK price dived from well above $15.50 and declined below the $13.50 support.


There was also a break below the $12.40 support and the 100 simple moving average (4-hours). Finally, the bulls were able to protect the $11.50 support zone. A low was formed near $11.29 and the price started a fresh increase above $12.00.


There was a break above the $13.00 resistance and the 100 simple moving average (4-hours). LINK price surpassed the 50% Fib retracement level of the downside correction from the $16.43 swing high to $11.29 swing low.


Chainlink (LINK) Price


Source: LINKUSD on TradingView.com

The price is now trading nicely above the $13.85 resistance. There is also a key bullish trend line forming with support near $13.50 on the 4-hours chart of the LINK/USD pair. On the upside, the bulls are likely to face hurdles near the $14.50 level.


The 61.8% Fib retracement level of the downside correction from the $16.43 swing high to $11.29 swing low is also at $14.50 to prevent gains. A clear break above $14.50 could open the doors for more gains above $15.00 and $15.20.


Downsides Limited?


An initial support for chainlink’s price is near the $13.65 and $13.55 levels. The first major support is forming near the $13.50 level and the trend line.


If there is a downside break and close below the $13.50 support zone, there is a risk of a bearish move towards the $13.00 support level or even towards the $12.50 level.


Technical Indicators


4-hours MACD – The MACD for LINK/USD is now losing momentum in the bullish zone.


4-hours RSI (Relative Strength Index) – The RSI for LINK/USD is currently well above the 50 level.


Major Support Levels – $13.65, $13.50 and $13.00.


Major Resistance Levels – $14.50, $15.00 and $15.50.





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Ripple Price Analysis: Fresh Increase above $0.65 Seems Likely



  • Ripple price remained well supported near the $0.4500 and $0.4750 levels against the US dollar.

  • The price is trading nicely above $0.6000 and the 55 simple moving average (4-hours).

  • There was a break above a major bearish trend line with resistance near $0.6180 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).

  • The pair is likely to continue higher above the $0.6500 and $0.6750 resistance levels.

Ripple price is rising and trading above key supports at $0.5800 against the US Dollar. XRP price could even retest the $0.7000 zone if it clears the $0.6500 resistance.


Ripple Price Analysis


This past week, there was a major downside correction from well above $0.6500 in ripple price against the US Dollar. The XRP/USD pair broke the $0.6000 support zone to move into a short-term bearish zone.


The decline gained pace below $0.5500 and $0.5200. There was also a spike below the $0.4750 support level and the 55 simple moving average (4-hours). A low was formed near $0.4572 before the price started a fresh upward move.


There was a steady rise above the $0.5000 and $0.5200 levels. The price even cleared the $0.5500 resistance and settled above the 55 simple moving average (4-hours). There was also a break above a major bearish trend line with resistance near $0.6180 on the 4-hours chart of the XRP/USD pair.


The pair is now testing the $0.6330 resistance. It is close to the 50% Fib retracement level of the downward move from the $0.8098 swing high to $0.4572 swing low.


The next major resistance is near $0.6500, above which the price might face hurdles near $0.6750 level. It represents the 61.8% Fib retracement level of the downward move from the $0.8098 swing high to $0.4572 swing low.


Any more gains could lead the price towards the $0.7000 level. If there is a fresh decline, the price might find support near the broken trend line or $0.6000. The main support is forming near the $0.5500 level and the 55 simple moving average (4-hours).


Ripple Price

Ripple Price



Looking at the chart, ripple price is clearly is trading nicely above $0.5500 and the 55 simple moving average (4-hours). Overall, the price is likely to continue higher above the $0.6500 and $0.6750 resistance levels.


Technical indicators


4 hours MACD – The MACD for XRP/USD is currently gaining momentum in the bullish zone.


4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is now well above the 50 level.


Key Support Levels – $0.6000, $0.5800 and $0.5500.


Key Resistance Levels – $0.6500 and $0.6750.


The post Ripple Price Analysis: Fresh Increase above $0.65 Seems Likely appeared first on Live Bitcoin News.





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Better than DeFi: SINOVATE’s New Infinity Nodes Provide Up to 130% Returns






SINOVATE’s Incorruptible Data Storage (IDS) dCloud network is providing game-changing decentralised cloud storage to the market – and to do that, the network needs reliable, distributed hardware and dedicated servers which will provide it with the stability and longevity needed to run this ground-breaking service.


2020 – What a Year for Crypto


From rampant COVID-19 market uncertainty, to 350% BTC price appreciation since March, and now to the return of Crypto to the mainstream media spotlight – it’s been a roller-coaster of a ride. As we approach the year end, we have seen innovative responses to the pandemic born from blockchain – the often-touted supply-chain use case has found good application in helping to alleviate the issues resulting from over-subscribed retail and commercial supply chains. Not to mention the use case for distribution of a COVID vaccine, which requires rigorous quality control and traceability, two elements handled succinctly by blockchain application.


Perhaps too, the rise in price signals that people are once again searching for an alternative to the traditional financial system which has failed them – one which is part of a world of indecision, and of grim outlook. Comparatively, sentiment in the crypto industry is up. PwC’s estimate on big money’s presence in the industry doubled from $1bn in 2019, to $2bn this year in 2020. What’s more interesting to note is that 42% of those hedge funds were involved in cryptocurrency staking – or to those familiar with industry terms, DeFi.


And the market truly has taken DeFi in its stride. In February of this year, a total of $1bn was locked in DeFi contracts. And a short 6 months later in August, that figured had risen by more than 400% to a total of over $4bn. And as of 20th November 2020, that figure approaches a staggering $14bn, which represents 1400% growth in commitment this year. It does not take a great stretch of the imagination to understand that there is a link between the fantastic returns offered by DeFi and the general uptick in the Crypto industry.


DeFi: All That Glitters is not Gold


In the crypto industry, we are used to hype. We saw plenty of it in 2017, when the ICO craze first hit, and for DeFi, staggering numbers aside – you don’t have to look far to see the same issues. Never far from the headlines is news of bad actors, scams, pump and dumps, exposed through Telegram groups, and if you’re lucky – even executed on exchanges, where funds can be returned.


And with an eerie warning coming from a mysterious whale touting 99% of DeFi as a scam, we’ve got to look at the possibility that repeating our past mistakes – that is, committing undue amounts of wealth to projects with no tangible backing, no history, and no team – Is inviting trouble. It leaves investors at the mercy of the market, and at mercy of the DeFi bubble popping.


Deterministic Infinity Nodes: An Alternative to DeFi


It comes at a perfect time, then, that a solution to the latent shortcomings in the world of passive income should become apparent this month. With the present hardfork in the SINOVATE project’s code, comes the release of the Deterministic Infinity Nodes, or DIN for short – And there are some impressive returns being offered for operating nodes on the SINOVATE network.


In short, SINOVATE’s Incorruptible Data Storage (IDS) dCloud network is providing game-changing decentralised cloud storage to the market – and to do that, the network needs reliable, distributed hardware and dedicated servers which will provide it with the stability and longevity needed to run this ground-breaking service.


To start a node, users stake their choice of SIN coins as collateral. The collateral is burnt at the start of the 12-month period, and returned over the course of the year by daily rewards – Which provides the financial incentive to wait the full year out, and also reduces inflationary pressure. SINOVATE is rewarding users at the following levels:


  • MINI DIN (100,000 SIN Collateral) – 130% returns

  • MID DIN (500,000 SIN Collateral) – 30.6% returns

  • BIG DIN (1,000,000 SIN Collateral) – 27% returns

And the best part is, no tricky masternode setup – SINOVATE have implemented their one-click node setup to allow users to get their node running automatically in a matter of minutes, instead of hours usually associated with node setup.


No Node? No Problem – Introducing HCO


Even though running a node is easy, SINOVATE still wanted to make great rates of passive income available to everyone, no matter their level of wealth. That’s why they are introducing the HCO (HODL Coin Offering) – Where users can get up to 15% APY from locking up to 75,000 SIN for up to 1 year. The full breakdown can be found below:


  • 12-Month Lock – 15% APY

  • 6-Month Lock – 6% APY

  • 3-Month Lock – 3% APY

What’s more, is that the SINOVATE team is funding this initiative directly from the development budget, meaning that there will be no new tokens minted, to neutralise inflationary impacts resulting from the initiative – But hurry, because there are only 64 days left of the initiative!


Conclusion


It is true that DeFi has changed the financial landscape this year – and it is true that we expect more from our money – however what is also apparent is that scam projects and bad actors are running amok in the market at the moment. SINOVATE is a project with a game-changing proposition, a dedicated and community-focused development team, and the potential to go further than any project has before their hardfork just released, and there are many more updates on the way in the next 6 months, and now, they have an answer to DeFi.


When will you head to infinity? Visit the website to learn more or set up your node today.



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TA: Ethereum Gains Bullish Momentum, Why ETH Could Retest $620



Ethereum gained bullish momentum and broke the $550 resistance against the US Dollar. ETH price is up over 8% and it seems like the bulls are aiming $600 or $620.


  • Ethereum started a fresh increase after it broke the $530 resistance level.

  • The price surpassed a major hurdle at $550 and the 100 hourly simple moving average.

  • There was a break above a key bearish trend line with resistance near $540 on the hourly chart of ETH/USD (data feed via Kraken).

  • The pair is trading in a positive zone and it could higher towards $600 or $620.

Ethereum Price is Up 8%


In the weekly analysis, we discussed the importance of the $550 resistance for Ethereum. ETH price started following a steady bullish path, and surpassed many hurdles near the $540 and $550 levels.


Bitcoin price also gained traction above $18,200, helping ether to clear the $550 resistance. There was also a break above a key bearish trend line with resistance near $540 on the hourly chart of ETH/USD. There was also a break above the 50% Fib retracement level of the key decline from the $623 swing high to $478 low.


Ethereum Price


Source: ETHUSD on TradingView.com

The pair settled nicely above the $565 level and the 100 hourly simple moving average. Ether tested the $590 resistance level. It seems like the bears are protecting the 76.4% Fib retracement level of the key decline from the $623 swing high to $478 low.


A clear break above the $590 level could open the doors for more gains above $600. In the stated case, the price is likely to revisit the $620 resistance or the $623 swing high in the near term. Any further gains may possibly push the price towards the $650 level.


Dips Supported in ETH?


If ethereum fails to clear the $590 resistance level, there could be a minor downside correction. An initial support is near the $580 level (a multi-touch zone).


A downside break below the $580 level might call for an extended decline. The next major support is near the $560 and $550 levels, followed by the key 100 hourly simple moving average. Any further losses could lead ether towards the $530 support level.


Technical Indicators


Hourly MACDThe MACD for ETH/USD is slowly losing momentum in the bullish zone.


Hourly RSIThe RSI for ETH/USD is currently well above the 50 level.


Major Support Level – $550


Major Resistance Level – $590





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TA: Bitcoin Bulls Keeps Pushing, Why $18.8K is a Key Breakout Zone



Bitcoin price is up over 4% and it broke the $18,500 level against the US Dollar. BTC is currently following a nice bullish path, but the $18,800 level is a strong resistance.


  • Bitcoin is slowly rising and it broke the key $18,500 resistance.

  • The price traded as high as $18,559 and it is now above the 100 hourly simple moving average.

  • There is a major rising channel forming with support near $18,280 on the hourly chart of the BTC/USD pair (data feed from Kraken).

  • The bulls are likely to face a strong resistance near the $18,800 zone.

Bitcoin Price is Approaching a Major Hurdle


In the weekly analysis, we saw a fresh increase in bitcoin price above the $18,000 level. BTC extended its rise above the $18,200 and $18,400 resistance levels.


There was also a break above the $18,500 resistance. The price traded as high as $18,559 and it is now above the 100 hourly simple moving average. It is currently consolidating gains and trading near the $18,450 level.


An initial support on the downside is near the $18,400 level. It is close to the 23.6% Fib retracement level of the recent rise from the $17,946 swing low to $18,559 high. Moreover, there is a major rising channel forming with support near $18,280 on the hourly chart of the BTC/USD pair.


Bitcoin Price


Source: BTCUSD on TradingView.com

The channel support is close to the 50% Fib retracement level of the recent rise from the $17,946 swing low to $18,559 high. On the upside, the channel resistance at $18,650 is a short-term resistance.


The first major resistance for the bulls is near the $18,800 level. A successful break above the $18,800 level could spark a strong upward move, and bitcoin could rise above $19,000 and even $19,200.


Another Drop in BTC?


If bitcoin fails to clear the breakout resistance at $18,800, there is a risk of a fresh decline. An initial support on the downside is near the $18,250 level or the channel lower trend line.


A clear break below the channel support might start an extended decline towards $18,000. The next major support below the $18,000 level is near the $17,400 level and the 100 hourly simple moving average.


Technical indicators:


Hourly MACD – The MACD is now gaining momentum in the bullish zone.


Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently well above the 60 level, with bullish signs.


Major Support Levels – $18,250, followed by $18,000.


Major Resistance Levels – $18,650, $18,800 and $19,000.





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MahaDAO’s Algorithmic ‘Valuecoin’ Goes Live on Ethereum

An India-based startup is coming for decentralized finance (DeFi) stalwart MakerDAO’s crown with the launch of its new “valuecoin.” MahaDAO...