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2ND NOVEMBER 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.

After a weak September, Bitcoin came roaring back again in the month of October but now all eyes have shifted to its performance in November. History favours the bulls because, since 2013, Bitcoin has always risen in November barring the negative close in 2018 and 2019.

Bitcoin broke below the 20-day exponential moving average (EMA) on October 27 but the bulls did not allow the bears to have their way. Strong buying at lower levels pushed the price back above the 20-day EMA on October 28. However, higher levels continue to attract profitbooking. The BTC/GBP pair has been stuck between £46,000 and the 20-day EMA for the past four days.

This tight-range trading is likely to result in a strong trending move. If the price breaks below the 20-day EMA, the bears will make one more attempt to pull the pair below £41,500. If they succeed, the pair could plummet to the 50-day simple moving average (SMA). Such a move could delay the start of the next leg of the uptrend. Conversely, if bulls push and sustain the price above £46,000, the pair may challenge the all-time high at £48,426.53.

A break and close above this level could suggest the resumption of the uptrend. The 20-day EMA is gradually flattening out and the relative strength index (RSI) has dropped below 57, indicating that the bullish momentum may be weakening. We expect the consolidation to continue for a few more days hence, we are not recommending any trade in it.

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

Enjoy the issue!



FEATURING IN THIS WEEKS EDITION

– Xanto
– Euler
– 99 Defi Network
– Beatbind

– Main frame Protocol
– bitcci
– Smartchem
– Mandala Exchange

– Markets Analysis
– Market News Update

CRYPTO TRADE OPPORTUNITIES

BITCOIN – BTC/GBP

Bitcoin broke below the 20-day exponential moving average (EMA) on October 27 but the bulls did not allow the bears to have their way. Strong buying at lower levels pushed the price back above the 20-day EMA on October 28. Read more

ETHEREUM – ETH/GBP

Ether skyrocketed to a new all-time high of £3,258.55 on October 29 but the bulls are struggling to sustain the higher levels. This suggests that traders are booking profits on every rise. However, a minor positive is that bulls have not allowed the price to stay below £3,098.17. The long tail on the candlesticks of the past two days shows that traders are buying on dips. Read more

RIPPLE – XRP/GBP

Both moving averages are flat and the RSI is just above the midpoint, which suggests a few days of range-bound action. The boundaries of the range may be £0.8924 and £0.69.

A break and close above £0.8924 could clear the path for a rally to £1.0156 while a break below £0.69 could sink the pair to £0.6334. Read more

CARDANO – ADA/GBP

Cardano plunged and closed below the £1.50 support on October 27, completing the bearish descending triangle pattern. The bulls attempted to push the price back above the breakdown level of £1.50 on October 28 and 29 but failed. Read more

BINANCE – BNB/GBP

Binance Coin broke below the 20-day EMA on October 27 but this proved to be a bear trap. The BNB/GBP pair reversed direction sharply on October 28 and broke above the overhead resistance at £377 on October 29. Read more

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

 

HOW IS BEATBIND RESHAPING THE FRAGMENTED MUSIC EVENTS INDUSTRY?

Blockchain technology has the power to shoot up financial inclusion and change the lives of people throughout the globe, especially in emerging economies. Blockchain’s potential has been widely recognised, even among the harshest critics of Bitcoin (BTC) itself, the possible use cases for blockchain technology are not just confined to the financial industry. Blockchain technology has changed how conventional industries operate. Read more

BITCCI: BLOCKCHAIN-BASED BUSINESS MODEL FOR THE SEXUAL INDUSTRY

The term “sex worker” refers to the people who work in the sex industry and provide sex work, either regular or occasionally. Currently, sex workers all across the globe are making use of cryptocurrencies to avoid rampant discrimination from economic sector services available. Sometimes an adult film star or porn star finds their bank account shut down without any prior warning. It seems to be a major concern for sex workers, as they cannot withdraw the money from their existing bank account. Read more

99DEFI.NETWORK – A PERMISSION-LESS DECENTRALIZED PROTOCOL

99Defi.network is a permission-less decentralized protocol that enables lending and borrowing services through Blockchain smart contracts.

The current DeFi landscape is growing, and there is no doubt that it is ripe with massive potential. However, glaring issues still arise as the DeFi ecosystem expands and new cryptocurrency investors join the markets.  Read more

BITCOIN IN “A STRONG POSITION TO TREND HIGHER” DUE TO ONGOING SUPPLY SHOCK AND INCREASING DEMAND: REPORT

“Renewed demand for BTC is increasingly clear,” as per different metrics while USD rebounded sharply today after its weakest onemonth level on Friday, with the Fed expected to begin tapering from next month. Bitcoin miners are accumulating more and more of the leading cryptocurrency, driving a supply shock, powering its rally, according to a report by the research arm of cryptocurrency exchange Kraken. In its latest report, the exchange said that longterm holders and whales, along with crypto miners, are behind the ongoing supply shocks.

GREEN CHEMISTRY GOES BLOCKCHAIN

Smart but powerful green chemistry from intelligent fluids doesn’t only disrupt the global industrial cleaning markets, but will also soon offer a crypto-coin (SMAC – SmartChem) that attracts early adaptor companies to change to green chemistry. In parallel, the NGO Ocean Care will profit by automatic donations from the unique Token Offering. Read more

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 HAS ‘AN AWFUL LOT OF PROMISE’ AND BITCOIN IS ‘MATHEMATICALLY PURE’: APPLE CO- FOUNDER STEVE WOZNIAK

Apple co-founder Steve Wozniak thinks Bitcoin represents “mathematical purity.” The legendary tech innovator says in a new interview with Yahoo! Finance that the US dollar isn’t fixed because the government can just print more money and continue borrowing. Bitcoin, by contrast, can’t change its circulation, Wozniak explains. “Bitcoin isn’t run by some company. It’s just mathematically pure, and I believe nature over humans always.”

MAINFRAME: THE #1 CONTENT CREATOR GUILD POWERED BY THE CRYPTOCURRENCY INTEGRATION

Content creators are becoming more creative by the day and end users are streaming to obtain the best of what the market has to offer. Many content creators are raising concerns over issues of privacy, ownership, pay and piracy. Also, cases of poor pay due to involvement of intermediaries are bringing about high costs of production for individuals. The video game market is changing, with problems raising from the builders as well as the end users Read more

INDIAN CRYPTO REGULATION IS PLANNED FOR FEBRUARY

The Indian government is reportedly planning to introduce cryptocurrency regulation by the time of the next general Budget, which is in February next year. Instead of banning cryptocurrencies, like bitcoin, the government is likely to regulate crypto assets as commodities, according to reports. OIndian Crypto Law Could Comes as Early as February The Indian government is planning to introduce cryptocurrency regulation in February next year, local news outlet Business Today reported, elaborating:

POLKADOT PRICE HITS NEW ALL-TIME HIGH, RISES ABOVE $50 FOR FIRST TIME

The price of DOT has risen as the Polkadot network moves toward increased functionality. The price of Polkadot’s native coin, DOT, has risen over 16% in the last 24 hours to reach above the $50 mark. In doing so, it registered an alltime high of $50.87, beating its previous record of $49.35, set in May. It’s been a good month for Polkadot—not just in terms of coin price but for network functionality as well.