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9TH 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.

Bitcoin rallied to a new all-time high above $67,000 on Nov. 8. Even Ether was not to be left behind as it also made a new all-time high and neared the psychologically critical level at $5,000. With the two largest cryptocurrencies by market capitalisation leading the charge, the total crypto market cap topped $3 trillion for the first time, according to CoinGecko.

Bitcoin bounced off the 20-day exponential moving average (EMA) on November 6 and soared above the overhead resistance at £48,426.53 on November 8, defying our assumption of a consolidation. The BTC/GBP pair could now pick up momentum and charge toward the 161.8% Fibonacci extension level of £56,174.25 and if this resistance is crossed, the next stop could be £60,249.98. Both moving averages are sloping up and the relative strength index (RSI) is in the overbought territory, indicating advantage to buyers The important level to watch on the downside is £48,426.53.

If bulls flip this level into support during the next correction, the possibility of the resumption of the uptrend will be high. On the other hand, a break and close below £48,426.53 will be the first indication that traders are booking profits at higher levels. The pair may then drop to the 20-day EMA.

The bears will have to pull the price below this support to signal that the bullish momentum has weakened.

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

Enjoy the issue!


FEATURING IN THIS WEEKS EDITION

– Mimir
– Funganomics
– Giving to Service
– Xanto
– 99 Defi Network
– Beatbind

– Main frame Protocol
– Smartchem
– Mandala Exchange

CRYPTO TRADE OPPORTUNITIES

BITCOIN – BTC/GBP

Bitcoin bounced off the 20-day exponential moving average (EMA) on November 6 and soared above the overhead resistance at £48,426.53 on November 8, defying our assumption of a consolidation.

The BTC/GBP pair could now pick up momentum and charge toward the 161.8% Fibonacci extension level of £56,174.25 and if this resistance is crossed, the next stop could be £60,249.98. Read more

ETHEREUM – ETH/GBP

The failure of the bears to sustain Ether below the breakout level of £3098.17 attracted aggressive buying by the bulls. The momentum picked up on November 2 and the ETH/GBP pair has continued its journey northwards.

The up-move could face resistance at the 100% Fibonacci extension level at £3,590.13. If the bulls arrest the subsequent pullback at the 20-day EMA, it will increase the prospects of the resumption of the uptrend. Read more

RIPPLE – XRP/GBP

XRP broke above the overhead resistance at £0.8924 on November 4 but the bulls could not sustain the breakout. However, a minor positive was that bulls bought the dip to the 20-day EMA.

This indicates that the sentiment has turned positive and traders are buying on dips. The bulls pushed and closed the price above the overhead resistance on November 8. Read more

CARDANO – ADA/GBP

After struggling to sustain above the 20-day EMA for several days, the bulls finally managed a close above the level on November 8. This is the first sign that bears may be losing their grip.

Cardano has now reached the downtrend line, which could attract strong selling by the bears. However, if bulls overcome this resistance, the ADA/GBP pair could accelerate to £1.79719. Read more

BINANCE – BNB/GBP

During strong breakouts, the price does not retrace and retest the breakout level and that is what happened in Binance Coin. The BNB/GBP pair witnessed intraday dips on November 2-4 but did not drop to the breakout level at £377.

The buying picked up momentum on November 5 and the pair reached close to the previous all-time high of £493.20 on November 7. The long wick on the day’s candlestick indicates that bears are trying to defend this level with vigour. Read more

 

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

 

EULER: A CAPITAL-EFFICIENT PERMISSIONLESS LENDING PROTOCO

Euler is a capital-efficient permissionless lending protocol that helps users to earn interest on almost any ERC20 asset. This innovation, coupled with MEV-resistant liquidations, tokenised debts, reactive interest rates and many more, makes Euler the lending protocol of the future. Read more

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

HARRY POTTER ACTOR BECOMES GLOBAL CHARITY AMBASSADOR FOR PHILANTHROPIC CRYPTOCURRENCY INITIATIVE

(September, 2021) Oliver Phelps, one half of the beloved Weasley Twins, has become the Global Charity Ambassador for Giving to Services, one of the world’s first cryptocurrency based donation platforms designed specifically to give back to public sector workers and use blockchain for good. The new platform will utilise cryptocurrency staking to give money back to those working in our essential public services, starting with the initial rollout amongst UK NHS workers Read more

HERE ARE THE FIVE US CITIES WITH THE MOST CRYPTO HIRES IN 2021, ACCORDING TO NEW BLOOMBERG STUDY

A new study is revealing the hottest cities in the US where companies have made the most crypto hires this year. The research, which was conducted by LinkedIn for Bloomberg, considers a crypto hire as any member of the online professional networking site who took a new job with titles that contain keywords such as “crypto,” “blockchain,” “Bitcoin,” “Ethereum” and “Solidity” in the first nine months of 2021. “The data is meant to serve as a rough proxy for the broader crypto job market, but by design, it will only capture crypto specialists, and not, for instance, a human resources worker for a crypto company.”

XAN – A TOKEN WORTH MORE THAN GOLD

The cryptocurrency world is growing at a fast pace, and everyone wants to be a part of it. Natural bioactive molecule manufacturer Xanto entered the blockchain space with its product Xanthohumol. The company produces the purest form of Xanthohumol in the world. The company has embraced blockchain technology for several reasons. With the help of blockchain technology, each batch of a product can easily be traced throughout the production process. Read more

PLATFORM RIDES WAVE INTO A DEFI REVOLUTION WITH USER REWARDS FOR PLAYING AND LEARNING

NFTs are more than purchasing milliondollar assets, they are about including everyone in the financial revolution. Play-to-earn has become a popular concept in the gaming industry, with the emergence of blockchain technology taking traditional gaming to the next level. However, with so many players entering the market, these platforms are set for significant competition in the long run if they cannot bring anything above and beyond the model itself. Aloha DeFi aims to take the play-to-earn model to the next level by merging it with the concept of learn-to-earn to give participants numerous earning opportunities.

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

NYC MAYOR-ELECT ERIC ADAMS TO TAKE FIRST 3 PAYCHECKS IN BITCOIN

The pro-crypto Adams is seeking to one-up Miami Mayor Francis Suarez, who recently said he’ll be taking his next paycheck in the cryptocurrency. Incoming New York City Mayor Eric Adams said on Thursday that he will take his first three paychecks in bitcoin when he takes office in January.

ETHEREUM’S GAS FEES PLUMMET WHILE PRICES SOAR

There has been a sharp drop in Ethereum’s trading volume over the last week. In brief Ethereum’s gas fees and trading volumes are going down. The network’s hash rate is surging. Ethereum’s gas fees have been plummeting in the last five days as the price of the currency edges toward its all-time high of $4,465, set on Wednesday this week.

LEADING NFT MARKETPLACE OPENSEA SURPASSES $10 BILLION IN ALL- TIME SALES

This weekend, the nonfungible token (NFT) marketplace Opensea surpassed $10 billion in all-time sales. Statistics show that 629,867 traders contributed to the $10 billion in sales and the average sale price since the NFT market’s launch is $872 per NFT. Opensea Cracks $10 Billion in All-Time Sales NFTs have become very popular in 2021 and the trend continues toward the end of the year. Just recently, Bitcoin.com News covered the NFT industry and market action data compiled by nonfungible.com. The report had shown 2021’s third quarter broke records surpassing the NFT metrics recorded in Q1 and Q2. Now the leading NFT marketplace Opensea has reached a record milestone surpassing $10 billion in all-time