In this one of the latest digital cryptocurrency news magazine subscription, you will get to know all the weekly updates regarding the market. MicroStrategy’s CEO Michael Saylor is uber bullish on Bitcoin. The business intelligence firm announced on February 24 that it had bought $1 billion worth of Bitcoin at an average price of $52,765. That was followed by another small purchase of $15 million at an average price of $45,710. With this, the company’s total Bitcoin haul has risen to 90,859 Bitcoin. The average acquisition cost of the total holding is $24,063 per Bitcoin.
Another bullish news was that Goldman Sachs plans to restart its cryptocurrency trading desk from next week. Goldman plans to deal in Bitcoin futures and non-deliverable forwards for its clients. This is likely to attract large investors, limiting the downside in Bitcoin.
OUR BLOG ARTICLES FOR THIS SPECIAL ISSUE ARE:
A BREAKTHROUGH IN THE WORLD OF CRYPTOCURRENCY
BITCOIN VS GOLD THE OPTIMAL SOLUTION: ZETA HEDGED
Bitcoin dropped to £31,005 on February 28 as we had anticipated in our previous analysis. The rebound off the strong support has also been according to our expectation.
The bulls will now try to push the price above £36,759.61. If they succeed, the BTC/GBP pair could start its journey towards the all-time high at £41,795. A breakout of this resistance could start the next leg of the up-move towards £50,000.
However, the flat moving averages and the RSI just above the midpoint suggest a few days of range-bound action. While the support is defined, the pair is yet to confirm the resistance level.
If the pair forms a range, traders may wait for the price to dip to £31,000 before buying. The stop-loss for this trade could be kept just below the 50-day SMA because a break below this support will indicate a possible change in trend.
If the 50-day SMA breaks down, the decline could extend to £27,733.84 and then to £21,000. Checkout our digital cryptocurrency news magazine subscription for the latest updates about profit and loss in cryptocurrency.
Lastly please check out the advancement’s happening in the cryptocurrency world.
CRYPTO MAGAZINE DIGITAL SUBSCRIPTION FOR
FEATURING IN THIS WEEKS EDITION
-Zeta Hedged Coin
CRYPTO TRADE OPPORTUNITIES
BITCOIN – BTC/GBP
The Bitcoin Price GBP dropped to £31,005 on February 28 as we had anticipated in our previous analysis. The rebound off the strong support has also been according to our expectation. The bulls will now try to push the price above £36,759.61. Read more
ETHEREUM – ETH/GBP
The Ethereum price GBP dropped to £932.54 on February 28, very close to our expected level of £900, as mentioned in the previous analysis. The long tail on the day’s candlestick suggests traders bought the dip aggressively. Read more
RIPPLE – XRP/GBP
XRP price GBP dropped to £0.252, just below the £0.27916 support as suggested in our previous analysis. The price has since then been trading between both the moving averages that have flattened out. The RSI just below the 50 level also does not suggest an advantage either to the bulls or the bears. Read more
LITECOIN – LTC/GBP
Litecoin price GBP rallied to £176.37 on February 20, just below our target objective at £179 as mentioned in the previous analysis. This technical level seems to have attracted profit-booking from traders as the Litecoin price GBP plunged to an intraday low at £127.22 on February 22. Read more
BINANCE – BNB/GBP
BNB Price GBP in our last weeks assumption turned out to be correct as the altcoin dropped to the 20-day EMA on February 28 as we had highlighted in the previous analysis. Both moving averages are sloping up and the RSI is above 61, which suggests that bulls are in control. Read more
INDIAN CRYPTO INDUSTRY BULLISH ON FINANCE MINISTER ENSURING A ‘VERY CALIBRATED’ APPROACH TO REGULATION
GRAYSCALE IS CONSIDERING 23 NEW CRYPTO ASSETS, ESPECIALLY DEFI COINS, FOR OFFERING
Grayscale Investments, the world’s largest asset manager with more than $39 billion in assets under management (AUM), has announced that it is considering several new digital assets for potential new product offerings. Read more
MAJOR DUBAI CRYPTO FUND TO SELL $750M WORTH OF BTC TO BUY CARDANO AND POLKADOT
FD7 Ventures, a Dubai-based crypto investment fund with $1 billion under management, has announced plans to sell off $750 million worth of their Bitcoin holdings in the next month. The proceeds from the sell-off will be used to purchase Cardano and Polkadot, as the fund’s managing director says he believes ADA, DOT, and ETH will be the foundation of Web 3.0. Read more
TWITTER PULLS A MICROSTRATEGY, ANNOUNCES $1.4 BILLION CONVERTIBLE NOTES OFFERING
Jack Dorsey is taking a page out of Bitcoin bull Michael Saylor’s book and raising $1.25 billion by offering convertible senior notes.
The notes will be due in 2026, with initial purchases having a 13-day option to buy up to an additional $187.5 million to cover any over-allotments if any. They will be convertible into cash, Twitter common stock, or a combination at Twitter’s election. Read more
VISA: 25% OF LATIN AMERICANS WANT TO PAY WITH CRYPTOCURRENCIES
COVID-19 changed everything, even the way people view crypto. Now, one out of four Latin Americans wants to pay with digital assets.
Many Latin American users expect to use cryptocurrency for payments.Cryptocurrency is increasingly popular in South American countries. Latin Americans want cryptocurrencies, and not just as hedges for inflation or savings. They want to be able to spend them, too. Read more
A BREAKTHROUGH IN THE WORLD OF CRYPTOCURRENCY TRADING PLATFORMS
A Cryptocurrency Trading Platform that stands out offering unique but insightful solutions for traders and investors is explored in today’s article. Times have evolved now that everyone can access financial services rather than a few privileged ones. It has prompted companies like QoinIQ to create an efficient and powerful crypto trading platform that allows all the traders, investors, and financial actors to benefit from the opportunities available in the current crypto-economy/network. Read more
BITCOIN VS GOLD THE OPTIMAL SOLUTION: ZETA HEDGED COIN?
This article will highlight the current debate over Bitcoin VS Gold for investors and traders. Bitcoin undoubtedly is an excellent investment option today. But it is always best to compare the crypto with a time-proven investment such as Gold. Both Bitcoin and Gold offer many benefits to investors, notwithstanding the fact gold continues to remain the foundation of money as we know it today. Read more