Author: Donald Munn
Bitcoin Analysis Bitcoin’s price closed up over 1% for Saturday and Sunday’s daily sessions and BTC’s price closed the week’s final daily candle +$439 on Sunday. The first chart we’re going to analyze this week is the BTC/USD 1D chart below by knownAccount84951. BTC’s price is trading between the 0.618 fibonacci level [$25,886.79] and 0.5 [$30,145.80], at the time of writing. Bullish BTC traders are aiming to regain the $30k level and then the 0.5 fib level before bears can do more damage. If bullish traders are successful and claim the 0.5, their secondary target is 0.382 [$34,404.81]. Bullish traders…
Bitcoin Analysis Bitcoin’s price continued trading in support purgatory between $28,8k-$31k on Wednesday. If Thursday’s candle closes around $30k that will be the 17th consecutive day that BTC’s price has hovered around the $30k level. BTC’s price concluded Wednesday’s daily session -$123. The first chart we’re analyzing today is the BTC/USD 1D chart below from @davthewave. We can see on the chart below that BTC’s price is trading comfortably below the 200D MA of $43,705.68. Will BTC’s price go and test the 200W MA at $21,968.68? For bearish traders to take bullish traders down to test the 200W MA bearish…
Bitcoin Analysis Bitcoin’s bulls outbidded bearish traders on Sunday to paint a green daily candle [+$844] yet bears still won the weekly candle and painted a red candle for the 8th consecutive week. That was the first time in the 13+ year history of bitcoin that BTC closed the weekly time frame with eight straight weeks of negative price action. The first chart we’re analyzing today is the BTC/USD 1D chart below by sngyuchao. BTC’s price is trading between 0.786 [$29,467.1] and 0.618 [$31,166.7], at the time of writing. The first target that BTC traders need to regain to turn…
SPONSORED POST* The prices of Bitcoin (BTC) and Ethereum (ETH) saw a 5% jump over June 6 and entered a upward correction that dragged the price of BTC from below $30,000 to above $31,500, giving investors renewed hopes for a much-anticipated market recovery after a brutal sell-off in May. Although the rallies were so weak that it fell again the next day, it was the first green weekly candlestick in ten weeks. Is the worst over or just a flash in the pan? After nine consecutive weeks of closing lower than the previous one, Bitcoin finally managed to break this…
Ripple announced a partnership with Lunu to enable them to accept cryptocurrency payments. Ripple enables cryptocurrency payments at Lunu Lunu’s special POS terminal Lunu is a technology startup founded in Berlin in 2018 by Artem Shaginyan and Petr Vishnyakov, two entrepreneurs who share a specific interest in the potential of blockchain. It currently works with clients such as Farfetch, Off-White, Browns and Steven Stone. Through its new partnership with Ripple, Lunu will enable high-end and luxury retailers in Europe and the UK to accept cryptocurrency payments in their shops via its POS terminal and online widget. In fact, using Ripple’s…
Timothy Ursich, a chiropractor and sports medicine specialist, is running for election to the US Senate in the state of California. In a recent tweet, he proposed making Dogecoin a legal tender in his country. California: Dogecoin proposed as legal tender A US Senate candidate for California, physician Timothy Ursich, announced in recent days that he would prepare a bill to make Dogecoin legal tender in the Sunshine State. I call on @BillyM2k and @elonmusk for support of my US Senate campaign here in California. As mentioned weeks ago, if voted in/elected on June 7th, I will draft a bill…
Jake Gordon of Bespoke Investment Group made a very curious discovery: almost all of the gains made by trading Bitcoin during the pandemic occurred while the US markets were closed. Gains of over 200% on Bitcoin when traded while US markets were closed Gordon looked at the period from December 2019 to April 2022 and found that buying BTC at the close of the US stock market (i.e. 4 PM New York time) and selling it at the opening of the next day (9.30 AM New York time) would have produced gains of around 270% on the initial capital. Doing…
Using bar charts, the St Louis Fed compares the price of a carton of eggs in dollars from January 2021 to the present day and then does so by substituting Bitcoin for the US dollar. The analysis of the use of Bitcoin to buy eggs The average price for a dozen eggs In the first graph, it is evident that in a year and a half with a fair amount of volatility, the price has risen steadily in a range from a low of $1.47 to a high of $2.52. In the second, however, the aim is to highlight what…
According to financial newspaper Bloomberg, the SEC is reportedly investigating Binance’s BNB token offering in 2017. Binance’s BNB token offering may not have been in compliance according to the SEC BNB’s ICO could result as a sale of securities for the SEC According to reports in the financial newspaper Bloomberg, which cites sources inside the SEC, the US financial market regulator, Binance Holdings Ltd. is being investigated as to whether or not it broke the rules by selling digital tokens five years ago. The very sensitive and subtle issue concerns the origins of the company and of its BNB token,…
SPONSORED POST* Crypto is an exceptionally volatile asset class and lucrative revenue opportunities are not just limited to bull markets. The best way to earn a reliable profit, in a bearish trend, is to invest in coins with promising long-term prospects and multiple revenue channels. Consistent ongoing profits ArbiSmart (RBIS) is an EU authorized crypto investment platform that is able to guarantee consistent passive profits, regardless of the market trajectory, making it an attractive choice in a market downturn. Crypto arbitrage The ArbiSmart project offers automated crypto arbitrage, meaning that it generates profits from temporary price inefficiencies. These are brief…