Bitcoin Update
Few days ago
21 JAN bitcoin broke support area 41000-39600 and fall for 22% in last few days.
Now I want to give you my trading plan about BTC .
I think we will be back to test support area as resistance because if you see a history you will that price always tested this area twice.
So in my opinion at first we will see a little upward movement to 40-41k and then BTC will fall to support zone 30-29k
So be ready for such scenario.
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⛔Scam Alret⛔
The famous YouTubeber Coin Bureau account has just been hacked.
An unclear video has just been uploaded to his channel.
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Report: Polkadot "Interested" in Becoming Barcelona Main Sponsor - 2 More Options Revealed
Barcelona-based sports newspaper Sport report that Spotify and Tencent are two more options to become Barcelona's shirt sponsor. Between fixed and variables, they could pay €75m per season.
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Elon Musk And Jeff Bezos Lose Tens Of Billions In Crypto Crash
Crashing cryptocurrency prices have cost tech giants Elon Musk and Jeff Bezos billions of dollars.
In the past few months, more than $1 trillion worth of crypto market value has been lost amid fears that cryptocurrency will be banned in certain countries and heavily regulated in others.
Tech stocks have also performed poorly, with the stock market suffering its worst week since the start of the Covid-19 pandemic
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What if Google Pay became a cryptocurrency wallet?
After trying (and failing) to become a bank, Google wants a fresh start for its Google Pay service.
Like Apple, Google also has a payment service. Formerly Android Pay, it became Google Pay in 2018. And a year ago, the Mountain View firm wanted to create a competitor to Apple Card, by offering bank accounts as well as a system for managing their finances. to users.
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Why Bitcoin, Ether, and other cryptos crashed Friday
What triggered the crash?
The main cause behind the latest rout is believed to be the proposal by the Russian Central Bank to ban cryptocurrency. The Central Bank of Russia yesterday stated it was proposing to the government that all use and mining of cryptocurrencies on Russian territory be banned.
This move would be taken due to the risks that cryptocurrency poses to financial stability, the sovereignty of monetary policy as well as the financial safety of its citizens, said the bank. The legal status of cryptocurrency has shifted quite a bit in the country in the past.
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One year ago today
1 $BTC: $28,732
1 $ETH: $1,039
1 $BNB: $36.95
1 $SOL: $2.54
1 $ADA: $0.28
1 $LUNA: $0.77
1 $AVAX: $11.31
1 $MATIC: $0.0265
1 $CRO: $0.0718
1 $AXS: $0.54
1 $SAND: $0.11
1 $DOGE: $0.0082
1 $SHIB: 0.0000000001
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3 Possible Reasons For Bitcoin’s Price Crash to $38K
Macro Selloff and High Correlation
The S&P 500 closed yesterday’s trading session down 1.1%. The NASDAQ Index is down 1.3% on the same time frame. The Dow Jones is down 0.89%.
BTC Exchange Inflows Increased Before the Crash
One indicator of potential selling pressure is the total inflows of BTC in exchanges. The more BTC sits on exchanges, the highest the potential selling pressure typically is.
$39K Put Options on Deribit With Highest Open Interest
As we reported in yesterday’s Bitcoin price analysis, the puts for the $39K strike price on Deribit had the highest open interest among put options.
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Bitcoin Slides as Fed Studies Issuing a Cryptocurrency
Central bank says it won't act to create a cryptocurrency without support from Congress and the White House.
The Federal Reserve released a study late Thursday raising the possibility of issuing a cryptocurrency and asking for public comments on the idea, but making clear that it wouldn't act without support from Congress and the White House.
Prices for bitcoin fell sharply late Thursday, losing nearly $2,000 to $39,864.75 in recent activity.
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Report
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Russian central bank proposes blanket ban on crypto mining and trading
In a report published on Thursday, the Central Bank of Russia has called for a blanket ban on domestic cryptocurrency trading and mining.
The report titled "Cryptocurrencies: Trends, risks, measures" compares cryptocurrencies to a Ponzi scheme and calls for a complete ban on their use throughout Russia. The authors claim that cryptocurrencies are highly volatile in nature and are being used as a tool for illegal activities. The report also warned that crypto could pose a risk to financial sovereignty and could aid people in taking money out of the national economy.
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Goldman Sachs in 2017: Only Criminals use Bitcoin | Goldman Sachs in 2022 after their Rich Clients invest: Bitcoin is competing with Gold and could reach to $100,000
Goldman Sachs in 2017:
• Predicts that Bitcoin will not work and die
• Bitcoin would only be used for fraud and by criminals
Goldman Sachs in 2022:
• Bitcoin is competing with Gold
• Bitcoin could reach for $100,000
• Bitcoin is a legitimate investment
What has changed? Bitcoin is still the same code, running for over 10 years. Is it because their rich clients have discovered it? Now, suddenly, when they are somehow invested into it, it isnt a scam anymore? Ironic
(Goldman Sachs bashing Bitcoin)
(Goldman Sachs doing a 180° turn claiming that Bitcoin is competing with Gold)
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A User Lost 26 Bitcoin To A Scammer Pretending To Be MicroStrategy CEO, Michael Saylor
On behalf of Saylor, Scammers promised to “double” any amount sent to the specified address in cryptocurrency. The user made five separate transactions to send 26 BTC to the scammer. Whalealert suspects this payment was made through a Coinbase address.
Michael Saylor responded and said 489 scams were launched in one week using his name:
“489 of these scams were launched on YouTube last week. We report them every 15 minutes, and they are taken down after a few hours, but the scammers just launch more….”
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Bitcoin Update
Bitcoin’s price has been in a strong downtrend since the $69K top during the first half of November 2021. However, it is yet to go through a lower low, which indicates that BTC is theoretically still in an uptrend momentum.
The grey highlighted area is the critical support based on the previous price action. It has already been tested once and bottomed nicely with a huge wick, which further confirms this zone’s ability to hold the price from dropping below $40K.
Additionally, this support area has coincided nicely with the last significant Fibonacci retracement level of 0.786. Highly volatile assets like Bitcoin tend to experience deep pullbacks; hence, it’s pretty standard for BTC to test deep Fibonacci levels.
All these signs confirm our bias that the $37-40K area serves as critical support, and if the BTC price breaks below this level, BTC will chart a lower low, and most likely, the short to mid-term bull run will be terminated.
@CryptoGold_News
Intel Set to Reveal 'Energy-Efficient' Bitcoin Mining Chip
Tech giant Intel is releasing a new "ultra-low-voltage" Bitcoin mining chip, starting with a reveal at an industry conference next month.
Technology giant Intel is set to enter the Bitcoin mining business, starting with the reveal of a new Bitcoin mining “Bonanza Mine” chip at this year’s International Solid-State Circuits Conference (ISCC) in February, according to a report by Tom’s Hardware
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President Biden plans Executive Order for cryptocurrencies in February
Reports over the weekend suggest that US President Biden is going to introduce an Executive Order for cryptocurrencies at the beginning of February.
The order is expected to span across government and plans to weigh-up the benefits and disadvantages of digital assets, alongside implementing a reporting system for government on cryptocurrencies.
Officials are yet to confirm the rumour.
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Turkey’s President Expected To Swallow Bitcoin’s Red Pill After Meeting With El Salvador’s Bukele
• El Salvador’s leader recently met with the Turkish President.
• Amid talks of cooperation and investment, it is likely that the issue of Bitcoin might later be broached by Turkey’s government.
• A landmark Turkish crypto legislation is on the horizon for the European nation.
El Salvador’s government revealed president Nayib Bukele paid a visit to Turkey’s Tayyip Erdogan during the week. The visit was geared towards increasing cooperation amongst the countries and investment in El Salvador.
Will Turkey Adopt Bitcoin?
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Bitcoin 1D Chart
The bitcoin suffered a correction by 50% since it's ATH.
The RSI is literally at it's lowest since May 19.
We can expect the bounce now, or a final drop to it's one-year major support 28000$
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World’s Largest Asset Manager Blackrock Files for Blockchain Tech ETF
The New York-based multinational investment management corporation Blackrock has filed an application with the Securities and Exchange Commission (SEC) for a blockchain tech exchange-traded fund (ETF). The Ishares blockchain tech ETF aims to track the Intercontinental Exchange (ICE) index called the Factset Global Blockchain Technologies Index.
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Ethereum Whale Sells 25K ETH Worth $70M In 2 Hours – Ethereum – United States Dollar ($ETH)
Giant cryptocurrency traders gave the impression to be promoting important quantities of their holdings because the crypto market misplaced over $200 billion on Friday.
What Occurred: An Ethereum (CRYPTO: ETH) whale offered 25,000 ETH value $70 million in below 2 hours throughout Asian hours on January 21.
Etherscan.io
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Worried About The Dip? Zoom Out Bitcoin
It is easy to get trapped in watching short-term price fluctuations of BTC, so it helps to zoom out and learn more about Bitcoin.
Short-term price action can often get in the way of a more fundamental understanding of Bitcoin. Newcomers are especially prone to selling coins at a loss if they don't go through the learning curve and dig deep into good resources
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Cardano records higher volume and over 500x cheaper fees than Ethereum
Following a period of strong market performance that occurred before Bitcoin’s most recent decline, Cardano (ADA) and the potential of ADA are once again at the forefront of the discourse in the cryptocurrency space.
Notably, Cardano had a higher trading volume of $6.5 billion than its rival Ethereum, which had a volume of $5.8 billion when the adjusted volume was taken into consideration, according to a graphic tweeted by Cardano Daily on January 20.
Interestingly, despite having a bigger volume, ADA had 568 times cheaper fees than its competitor, costing just $76,500 for a total of $6.5 billion in transactions. In comparison, ETH charges $38.6 million significantly more for fewer transactions.
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The key to avoiding panic selling
This is going to be tough for some of you, but if you can do it then trust me it will change your entire mindset.
The key to avoiding panic selling is to detach your mind from measuring your portfolios worth in USD.
You have got 1 ETH, even if the value of ETH drops, it doesn’t matter, you still have 1 ETH - The markets will always come back whether it is in a month or 2 years but you still have your 1 ETH. If you are staking, your stack is going to be growing, not if you measure it in USD, but if you measure it in the coin you stake then it is growing, which means when the markets bounce back you will end up better off overall.
The other way is to measure it against BTC, you will find in most cases you could be 50% down against the USD, but only 5 or 10% down to BTC, and with most things still pinned to BTC this should help relieve your concerns.
The only time the above do not apply is if your belief in the project you hold changes, I believe in Cosmo, If it drops it doesn’t matter, I believe in it which makes it easy to hold.
These are perhaps alien concepts to some, but it is in my opinion an absolutely critical shift of mindset that will make you a better crypto investor over the years to come.
Best Post
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Luna Update
Chart looking very promising.
50 MA is acting as strong support and it bounces every time it gets tested.
Buy between - 83 - 84.5
Target - 92 - 100 - 108
Stop below - 77
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5,000 ETH ($15,643,000 at the time of transaction) from Kraken to an unknown wallet with $12.5 fee
Etherscan.io
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Breaking:
Google considers letting users store 'crypto' in digital cards.
Bloomberg
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📍Short term trade 7 - 14 days
High risk
#ONE/USDT at (Binance.com)
Buy between 0.29 - 3
Profit Targets - 0.33 - 0.36 - 0.39
Stop below – 0.265
DYOR
@CryptoGold_News
Chart patterns are an integral aspect of technical analysis, but they require some getting used to before they can be used effectively. To help you get to grips with them, here are 10 chart patterns every trader needs to know.
More patterns
My best post
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Here are the 11 ways Cardano is planning to scale in 2022
The Cardano (ADA) network is seeking to build on its recent growth after announcing a series of projects to optimize the platform’s performance in 2022.
In a blog post, Cardano’s parent company, Input-Output, outlined upcoming on-chain and off-chain solutions that will help Cardano scale in 2022.
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Solana’s 10 Red Flags
Solana is a $45 billion cryptocurrency and the 5th most valuable cryptocurrency in the world. I can’t figure out why because every time I look at Solana all I see are red flags.
1. Lying about Total Supply.
2. Lying about Transaction Count.
3. Lying about Censorship Resistance.
4. VC Investments are Problematic.
5. Proof of History Blockchain is Flawed.
6. Lack of Academic Research is Worrying.
7. Fixing their blockchain is possible but they’ve dug themselves into a hole.
8. Suspicious FTX, Alameda, Solana Connection.
9. Present: FTX, Alameda and Solana.
10. Serum DEX has Frontrunning Risks.
Full explanation
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