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19TH OCTOBER LATEST CRYPTO NEWS DIGITAL MAGAZINE

Despite the slight downturn, the institutional adoption of Bitcoin continues to increase. Filings with the United States Securities and Exchange Commission show that four wealth management firms have bought shares in Grayscale’s Bitcoin Investment Trust.

A survey of about 42,000 people in 27 countries by product comparison website Finder showed a high adoption rate in Asia. Among the countries polled, Vietnam had the highest adoption rate at 41%, while India and Indonesia had a 30% adoption rate.

The crypto markets will take a huge regulatory leap on Tuesday when the first Bitcoin-linked exchange-traded fund by ProShares, which tracks Bitcoin futures, will start trading on the NYSE under the ticker BITO.

Bitcoin soared above the £42,653.53 resistance on October 15, clearing the path for a retest of the all-time high at £47,240.05. The rising 20-day exponential moving average (EMA) and the relative strength index (RSI) in the overbought zone indicate that bulls are in the driver’s seat. If buyers push the price above £47,240.05, the BTC/GBP pair could start its northward journey toward the 1.618% Fibonacci extension level at £56,174.25. Conversely, if the price turns down from £47,240.05, the first support to watch on the downside is £42,653.53.

If bulls defend this level successfully, the pair may consolidate between the two levels for a few days. A consolidation near the all-time high is a positive sign as it shows that traders are not rushing to the exit. That could increase the prospects of the continuation of the uptrend.

The first sign of weakness will be a break and close below the 20-day EMA. Such a move will suggest that supply exceeds demand and the sentiment could be turning negative. A break and close below the 20-day EMA could pull the price down to £38,257.06.

Lastly please check out the advancement’s happening in the cryptocurrency world.

Enjoy the issue!



FEATURING IN THIS WEEKS EDITION

– Main frame Protocol
– Asia Broadband
– DeGeThal
– bitcci
– Artex
– Mandala Exchange
– Radiologex
– Ferrum Network

CRYPTO TRADE OPPORTUNITIES

BITCOIN – BTC/GBP

In this analysis of BITCOIN PRICE GBP – Bitcoin soared above the £42,653.53 resistance on October 15, clearing the path for a retest of the all-time high at £47,240.05.

The rising 20-day exponential moving average (EMA) and the relative strength index (RSI) in the overbought zone indicate that bulls are in the driver’s seat. Read more

ETHEREUM – ETH/GBP

Ethereum price gbp broke above the neckline on October 14, completing a bullish inverse head and shoulders pattern. However, as we had projected in our previous analysis, the bears aggressively defended the overhead resistance at £2,905.65 and have pulled the price back to the neckline. Read more

RIPPLE – XRP/GBP

In this analysis of Ripple Price GBP, the bulls bought the dip to the 20-day EMA on October 13 but they could not push the price above the overhead resistance at £0.8924. This suggests that demand dries up at higher levels. Read more

CARDANO – ADA/GBP

Cardano has been struggling to rise above the 20-day EMA for the past few days, which suggests that traders are selling on rallies to this level. Read more

BINANCE – BNB/GBP

We had mentioned in the previous analysis that Binance Coin could start a deeper correction if bears sink the price below the £292 to £284 support zone but the bulls were in no mood to relent. Read more

Subscribe to the latest crypto news digital magazine for the latest updates about profit and loss in cryptocurrency.

 

MANDALA EXCHANGE – POWERED BY BINANCE CLOUD

“The team at Mandala Exchange is honored to be a part of the Platinum Crypto Academy community. At Mandala Exchange we value community first, above all. We are excited to join such a thriving ecosystem, and share in the education, progression, and adoption of such a powerful industry.“ – Joe Reiben, Mandala Exchange CEO. Read more

CRYPTO FINSERV FIRM BAKKT TO SOON TRADE PUBLICLY ON NEW YORK STOCK EXCHANGE

Bakkt Holdings, the digital assets management arm of Intercontinental Exchange (ICE), has announced it will soon become a publicly traded company on the New York Stock Exchange, starting Oct. 18. The public listing for Bakkt comes as a result of a merger with VPC Impact Acquisition Holdings, a Chicago-based special purpose acquisition company. According to an official statement, a shareholders meeting regarding the merger saw approximately

SECURING THE GLOBAL HEALTHCARE, RADIOLOGEX STO IS AN OPPORTUNITY TO HAVE YOUR SHARE OF BENEFITS

The healthcare industry is working towards equal opportunity in service provision for individuals worldwide. Meeting this objective is not an easy task, but with the recent creation of R-DEE, an all-in-one ecosystem and network, it seems possible to meet global healthcare needs not just on patient-doctor requirements but also on distributors and professionals. These capabilities are available under one platform, making it possible to streamline, expand, and upgrade individual healthcare services all under one roof.  Read more

SEC APPROVES BITCOIN FUTURES ETF, OPENING CRYPTO TO WIDER INVESTOR BASE

After years of trial and error by would-be fund sponsors, cryptocurrency investing is finally opening up to the masses with the tacit U.S. approval of a bitcoin futures exchange-traded fund. The Securities and Exchange Commission (SEC) greenlighted bitcoin futures ETFs in a first for the industry on Friday, after the regulator’s five commissioners met on the issue. ProShares, which filed for its Bitcoin Strategy ETF this past summer, may be the first to launch next week. The company filed a post-effective amended prospectus on Oct. 15, stating its filing is expected to launch on Monday, Oct. 18, though the fund may not begin trading immediately.

MINING COMPANY OFFERS FIRST-EVER “MINE-TO-TOKEN” CRYPTOCURRENCY TO INVESTORS LOOKING FOR EXPOSURE TO GOLD

Cryptocurrencies are considered highly volatile assets. The asset-based cryptocurrencies are used for digitising an asset, and the record is stored on the blockchain. For example, if a real estate property is sold to an individual, the information will be digitised instead of requiring paperwork. The records, like property location, deeds and ownership history of the property, are stored on the blockchain. Bitcoin is the most valuable cryptocurrency globally by market capitalisation, only subject to 20% to 30% swings in price on any given day. Read more

SQUARE ‘CONSIDERING’ BUILDING BITCOIN MINING RIGS, SAYS JACK DORSEY

Not content with building a hardware wallet and decentralized exchange, Square may also get into Bitcoin miners. Square CEO Jack Dorsey tweeted that the firm is considering building Bitcoin mining rigs. The firm is already building a Bitcoin hardware wallet, as well as a decentralized exchange. Jack Dorsey is all in on Bitcoin, and the leading cryptocurrency has increasingly become a focal point in the Square and Twitter CEO’s worldview. Today, he unveiled the latest potential piece of his plans, tweeting that Square is exploring whether to build Bitcoin mining hardware. “Square is considering

RIPPLE JOINS THE DIGITAL POUND FOUNDATION TO HELP IN THE DEVELOPMENT OF A CBDC IN THE UNITED KINGDOM

This week, Ripple has joined the Digital Pound Foundation, which is a non-profit foundation to develop and implement a digital pound in the United Kingdom. Susan Friedman, the Head of Policy, represents Ripple as a Foundation on the board. Ripple will help the foundation by engaging central banks at a global level on the technicalities and policy issues related to central bank digital currencies (CBDCs). Ripple’s firm conviction that the United Kingdom has been in the vanguard when it comes to inspiring responsible innovation and growth in the crypto-asset space and developing a digital pound is the result of the effort

ARTEX, THE FIRST BLOCKCHAIN-BASED MARKETPLACE FOR SELLING AND INVESTING IN ARTWORK

The ‘Mona Lisa’ painting has been the talk of the art world since the 16th century, with its value going to heights that not many people predicted. However, the art industry has grown and gained relevance in the investment sector. Who would have thought that there would come a time when fine art would be linked to one of the most outstanding yet controversial technologies, blockchain tech? This venture is attracting crypto investors into the art industry, thus widening the industry’s target gap.  Read more

$69,000,000,000 PENSION FUND CONSIDERING ALLOCATING CAPITAL TO CRYPTO SPACE

Australia’s fifth-largest pension fund is reportedly considering allocating capital to the crypto markets. The Financial Times reports that Queensland Investment Corporation (QIC), which manages $69 billion worth of assets, is open to making cryptocurrency investments in the future even as it remains cautious of the nascent digital asset space. QIC’s head of currencies Stuart Simmons attributes the big funds’ hesitancy to the regulatory risks of digital assets amid a lack of clarity on how governments and watchdogs would oversee the crypto space.

HOW THE DTM TOKEN IS TRANSFORMING THE CRYPTO MARKET

There is no denying that the current crypto and blockchain market is experiencing a surge in demand, with new cryptocurrencies and their subsequent values creating plenty of buzzes. According to an Allied Market Research report, the global crypto market will likely record a 12.8% CAGR growth rate between the years 2021-2030.  Read more

CFTC FINES TETHER AND BITFINEX $42.5M FOR ‘UNTRUE OR MISLEADING’ CLAIMS

The U.S. regulator issued an order “simultaneously filing and settling charges against Tether,” the issuer of the crypto industry’s largest stablecoin. IThe Commodity Futures Trading Commission (CFTC) fined Bitfinex and Tether more than $42 million on allegations the USDT stablecoin was not fully backed at all times and that Bitfinex violated a previous agency order.

CRYPTO MARKET CAP HITS AN ALL-TIME HIGH OF $2.5 TRILLION

The crypto industry market cap has reached a new alltime high of $2.6 trillion. The cryptocurrency market has set a new record with an all-time high of $2.6 trillion according to data from CryptoSlate. Crypto market touches new ATH This gives the crypto industry a lead over some of the largest tech giants, such as Apple. Bitcoin is currently hovering over a $1 trillion market cap. As highlighted by the data, the crypto market was able to reach this peak thanks to the surge in the price of the leading digital asset.

POLKADOT (DOT) FOUNDER ANNOUNCES $774 MILLION DEVELOPMENT FUND FOR DEFI

Wood invited DOT holders to put forward their suggestions for furthering the network’s growth, offering Polkadot’s treasury funds as an incentive. Following DOT’s rally last week, driven by the announcement of Polkadot’s highlyanticipated parachain auctions, Gavin Wood teased $774 million ready to be spent on innovative ideas. Polkadot, created by Wood, currently has 18,936,300 DOT in its treasury, which can, according to the founder, instead of being slowly burned by the protocol, fund anything that the network’s governance believes valuable.

PUTIN SAYS HE ACCEPTS CRYPTO’S ROLE IN MAKING PAYMENTS

Crypto ‘has the right to exist,’ Putin says in CNBC interview U.S. considering new regulations after Chinese crackdown Follow @crypto Twitter for the latest news. Russian President Vladimir Putin signaled tolerance of cryptocurrencies, which are drawing increasing scrutiny from regulators around the world amid fears they can be used for money laundering and criminal activitY Cryptocurrency “has.