4TH JANUARY LATEST CRYPTO NEWS DIGITAL MAGAZINE
However, analysts remain bullish for 2022. Antoni Trenchev, managing partner of crypto lender Nexo, forecasts Bitcoin to reach $100,000 by the end of June as he expects accommodative central bank policy to continue. Trenchev said: “Cheap money is here to stay which has huge implications for crypto,” as “the Fed doesn’t have the stomach or backbone to withstand a 10%- 20% collapse in the stock market, along with an adverse reaction in the bond market,”
Bloomberg reported. It isn’t that everybody is bullish on Bitcoin in the short term. Veteran trader Peter Brandt recently tweeted that Bitcoin’s bottoms usually occur after “high volume panic capitulation” and that has not yet happened.
Bitcoin turned down from the overhead resistance at £39,299 and plunged below the 200-day simple moving average on December 29. The bulls have managed to defend the £34,031.76 support for the past few days but their failure to sustain the rebound above the 200-day SMA indicates selling by the bears at higher levels.
The downsloping 50-day SMA and the relative strength index (RSI) in the negative territory suggest that the path of least resistance is to the downside. If bears pull the price below £34,031.76, the BTC/GBP pair could resume its down-move. The first support on the downside is £30,000 but if this level gives way, the decline could extend to £26,845.
The first sign of strength will be a break and close above £36,000. Such a move will suggest that bulls accumulated on dips to £34,031.76. The pair could then rise to £39,299 where the bears may again mount a strong resistance. A break and close above this level will indicate that the downtrend could be over.
Lastly please check out the advancement’s happening in the cryptocurrency world.Enjoy the issue!
FEATURING IN THIS WEEKS EDITION
– Funganomics- Mine Network- Quizarena- Hubble Protocol- Bitshiba
CRYPTO TRADE OPPORTUNITIES
BITCOIN – BTC/GBP
Bitcoin turned down from the overhead resistance at £39,299 and plunged below the 200-day simple moving average on December 29.
The bulls have managed to defend the £34,031.76 support for the past few days but their failure to sustain the rebound above the 200-day SMA indicates selling by the bears at higher levels. Read more
ETHEREUM – ETH/GBP
Ether broke below the December 4 intraday low of £2,721 on December 29. A minor positive is that bulls did not allow the bears to have their way and are attempting to push the price above the downtrend line.
If they succeed, the ETH/GBP pair could rise to the 50-day SMA. A break above this level will suggest that the corrective phase may be over. The pair could then start its journey to the all-time high at £3,607.44. Read more
RIPPLE – XRP/GBP
XRP continued lower and broke below the support at £0.63 on December 29. A minor positive is that the bulls bought this dip and are attempting a recovery. However, the bears are unwilling to relent.
The moving averages have completed a death cross, signalling that bears are in control. The sellers will now try to sink the price to the strong support at £0.56. A break and close below this level could indicate the resumption of the downtrend. The XRP/GBP pair could then drop to £0.46. Read more
CARDANO – ADA/GBP
Cardano turned down from the 20-day EMA on December 27 and has reached close to the support line of the descending channel.
The 50-day SMA continues to slope down and the RSI is in the negative zone, suggesting that the path of least resistance is to the downside. Read more
BINANCE – BNB/GBP
Binance Coin turned back below £411.50 on December 28 and plunged to the strong support at £377 on December 30. Although the bulls have defended this level for the past few days, they have not been able to sustain the rebound.
This indicates that bears continue to sell on every minor rally. The downsloping 50-day SMA and the RSI in the negative territory suggest that bears are in command. Read more
Quizarena Ecosystem Explained!
Listen to this article Since the advent of the internet, business models have been transformed, changing work dynamics. Play-to-earn is one such model using blockchain and NFT to shift the gaming paradigm. Even though DeFi has become a popular buzzword among crypto hipsters, GameFi increasingly seems to be the place to be nowadays. Read more
Solidus AI Tech: The future of AI services in Europe!
High Performance Computing (HPC), is the ability for computers to process large amounts of data and perform complex calculations at extremely high speeds. A simple comparison of high-performance computing would be comparing a laptop that can perform over a billion calculations in a second with a HPC facility that can perform a quadrillion calculations in one second. HPC are also known as super computers. They work by combining multiple nodes together to perform a single task – increasing the speed and processing power of the supercomputer.
Crypto Investment Fund CEO Predicts Big Shakeout of Ethereum Competitors As Bitcoin Replaces Gold
The CEO of crypto investment fund Off The Chain Capital predicts that Bitcoin (BTC) will replace many traditional assets and that most Ethereum competitors ultimately be shaken out. In a new interview with Real Vision, Brian Estes says that the flagship cryptocurrency is like a black hole that sucks in value.
Bitcoin holdings of public companies surged in 2021
The amount of BTC held by public companies gained significant market share from that held in spot ETFs since MicroStrategy’s “Bitcoin for Corporations” conference in February 2021. The quantity of Bitcoin (BTC) held by private corporations increased significantly during 2021, building on increases from the previous year. In a Monday tweet, onchain analyst Willy Woo claimed that public companies holding “significant BTC have gained market share from spot ETFs as a way to access BTC exposure on public equity markets.”
Italy’s top private bank Banca Generali to allow users to buy Bitcoin
The private bank will become the country’s first to offer direct crypto purchases. Over 300,000 customers of Banca Generali will be able to purchase and hold Bitcoin this year. The feature was enabled through the bank’s partnership with cryptocurrency platform Conio, which will be integrated into Bance Generali’s Home Bank application.
Eminem Buys Bored Ape Yacht Club NFT That Looks Like Him For $452K
Eminem, the Grammy Awardwinning rapper, has joined the Bored Ape Yacht Club (BAYC), purchasing one of the non-fungible token (NFT) apes for 123.45 ether ($462,000) on the OpenSea platform. Eminem Buys BAYC NFT Eminem, the famed Detroit rapper, has joined the Bored Ape Yacht Club (BAYC).
Nearly $34 Billion Worth of ETH Locked in the Ethereum 2.0 Deposit Contract
The locked balance on the Ethereum 2.0 deposit contract has reached a new all-time high of 8.8 million ETH, worth over $33 million. According to recent data, the total amount of ether (ETH) locked in the Ethereum 2.0 deposit contract is rapidly approaching the nine million mark. This means that more than 7% of the total ETH supply is currently staked in the ETH 2.0 contract.
Good Shill Hunting: Why Matt Damon’s Crypto.com Ad Is Trending
The commercial for the crypto exchange has been airing since late October. Some people are just now noticing. In brief In a commercial, actor Matt Damon says, “Fortune favors the brave.” He’s talking about buying cryptocurrency. Those highly attuned to the crypto space have been seeing Matt Damon’s face on Crypto.com ads since late October, when the Oscar-nominated actor first appeared as the pitchman for the spot and derivatives exchange.
Ozzy Osbourne Is Betting Fans Will Be Hungry for His New NFTs
The former batbiting Black Sabbath frontman and current reality TV star will launch the “Cryptobatz” NFT collection in January, Rolling Stone reported. Ozzy Osbourne, the former lead singer of the heavy metal band Black Sabbath who bit the head off a bat during a concert in 1982, is making his first foray into NFTs, Rolling Stone reported. The collection, which Osborne created himself and announced in a Twitter post early Tuesday, will comprise 9,666 unique non-fungible token bats, a nod to the infamous concert, according the report, which cited a press release.
Meme Token Economy Climbs 14% in 2 Weeks — DOGE, SHIB Command 83% Dominance
Toward the end of this week, crypto-assets rebounded in value after meandering for two weeks and consolidating. While specific tokens like decentralized finance (defi) coins, metaverse tokens, and smart contract coins improved a great deal, the meme-token economy increased in value as well, as a number of meme coins like dogecoin, shiba inu and dogelon mars have seen significant gains during the last seven days. Meme Coins Climb Higher in Value This Past Week — Shiba Fantom and Luni Lead the Pack 21 days ago on December 5, the meme token economy was down more than 12% and hovering just above the $47 billion region.
The Importance of DeGethal and DTM Tokens
Crypto platforms have been gaining use cases in various industries and sectors.
A few DeFi projects are changing the way banking, e-wallets, and trading works.
The need for cryptocurrencies today A few years ago, if you had mentioned the term ‘cryptocurrency’, we would have thought of some kind of digital currency involving an underworld banking system, sitting behind shady computers, or something illegal. But now this term ‘cryptocurrency’ is booming and not only in the business sections of daily websites or financial publications but on their cover page. Entire sections of news publications are becoming devoted to things like Bitcoin, Ethereum, and Blockchain. Read more
BY Karnav Shah
BY Karnav Shah
BY Richard Baker