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7TH DECEMBER 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.

Several investors were hoping for a blow-off rally in the final month of the year, but the markets had other plans. Bitcoin plunged on December 4, dragging the entire crypto markets lower. The total crypto market capitalisation plunged from over $3 trillion on November 9 to about $2.4 trillion on December 6, according to Coingecko data.

The failure of the bulls to push Bitcoin above the 20-day exponential moving average (EMA) between November 29 to December 1 showed that bears are defending this level aggressively. This may have prompted selling from traders who had purchased the dip to the 100-day simple moving average (SMA). The selling intensified on a break below the 100-day SMA and the BTC/GBP pair plunged to £34,031.76. The long tail on the day’s candlestick shows that bulls aggressively purchased the dip. But a minor negative is that buyers are struggling to sustain the bullish momentum at higher levels. This indicates that demand dries up at higher levels.

The 100-day SMA, which had been acting as a strong support till now is likely to turn into a stiff resistance. If the price turns down from the 100-day SMA, the pair could retest the December 4 intraday low at £34,031.76. A break and close below this level could pull the pair to £30,000. The downsloping 20-day EMA and the relative strength index (RSI) in the negative zone indicate that bears have the upper hand.

This bearish view will invalidate on a break and close above the 20-day EMA. Lastly please check out the advancement’s happening in the cryptocurrency world.

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

Enjoy the issue!


FEATURING IN THIS WEEKS EDITION

– Giving to Services
– Quizarena
– Solidus
– Candao
– Degethal

– Mirai
– Fren
– Beatbind
– Funganomics

CRYPTO TRADE OPPORTUNITIES

BITCOIN – BTC/GBP

The failure of the bulls to push Bitcoin above the 20-day exponential moving average (EMA) between November 29 to December 1 showed that bears are defending this level aggressively.

This may have prompted selling from traders who had purchased the dip to the 100-day simple moving average (SMA). The selling intensified on a break below the 100-day SMA and the BTC/GBP pair plunged to £34,031.76. Read more

ETHEREUM – ETH/GBP

Ether is range-bound between £2,932.90 and £3,607.44. Although bears pulled the price below the support of the range and the 100-day SMA on December 4, they could not sustain the lower levels as seen from the long tail on the day’s candlestick.  Read more

RIPPLE – XRP/GBP

We had suggested in our previous analysis that if XRP turns down from the 20-day EMA, it could plummet to psychological support at £0.50 and that is what happened.

The XRP/GBP pair turned down from the 20-day EMA on November 30 and dipped below £0.50 on December 4. A minor positive is that bulls purchased the dip aggressively as seen from the long tail on the day’s candlestick. Read more

CARDANO – ADA/GBP

Cardano continues to be in a strong downtrend. The bulls attempted a relief rally from the support line of the descending channel on November 28 but the recovery stalled at the 20-day EMA. Read more

BINANCE – BNB/GBP

Binance Coin turned down from the overhead resistance at £493.20 on December 1. This could have prompted profit-booking from short-term traders, which pulled the price below the 20-day EMA.   Read more

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

Giving To Services: Improve Pension Markets With Blockchain Technology!

Giving To Services is a decentralised financial (DeFi) service that harnesses blockchain technology to empower those involved in public services, including the medical, education, emergency services, government and council professions. The whole platform is powered by an audited digital token known as the SVS, based on the ERC20 platform, which enables secure, transparent financial interactions between individuals, charities, institutions and other organisations connected with the provision of public services.  Read more

https://youtu.be/c6QdHaV3E04

 

FREN – A SIMPLE AND EASY TO USE TOKEN

In general, some materials are called intelligent when they can change their properties under various external stimuli and learn from the environment. Recently, these materials have gained tremendous popularity and expanded the range of their applications. read more

BeatBind at the Helm of Revolutionising the Music Events Industry?

Music is a fragment of our daily routine. We hear music every day, we dance to it and sing it. It has become an effective medium for exchanging culture. There are many businesses centred around music, as with innovations and new genres coming in, the demand for it has never dwindled. The advent of blockchain and its use in the music industry has digitalised everything, making the systems decentralised.  Read more

The Benefits of DeGethal for Businesses

DeFi is a short form for ‘decentralised finance’, an umbrella term for a wide range of financial applications in cryptocurrency or blockchain aiming at disrupting financial intermediaries and third parties.  read more


Solidus Ai Tech Secures €3.5m EU Grant to Complete its HPC Data Centre

Solidus Ai Tech has been approved for a €3.5m grant via its joint venture partner Soft Galaxy International to go towards the completion of their Artificial Intelligence infrastructure, where Government Authorities, Megacorps, SMEs, and Professionals will be able to purchase AI services via their Infrastructure-as-a-Service (IaaS) platform. Read more

QuizArena – An Ingenious Learn to Earn Gaming Platform

QuizArena, a Learn to Earn gaming platform, has announced a strategic partnership with Cryptonaire weekly. This partnership will see QuizArena use the Cryptonaire platform as a  strategic media partner where the magazine will feature information and news about the platform while informing the public about this gaming platform. Read more

Bitcoin tumbles below $47K wiping out October gains — Bear market begins?

The price of Bitcoin has fallen to two-month lows as volatility bites. But, could the bottom be in for the Bitcoin price at around $42,000? Bitcoin (BTC) has suddenly fallen below $47,000 on Dec. 4, losing nearly 20% in the past 24 hours. This makes this the biggest one-day drop since May 15 when Bitcoin price momentarily came down to nearly $33,000.

Bitcoin Market Dominance Sinks Over Weekend As Ethereum’s Grows

The market cap dominance of the biggest cryptocurrency dipped as low as 38.32% this weekend. In brief Bitcoin’s market dominance dropped very low this weekend—along with the price. But Ethereum’s market dominance grew. Amid this weekend’s crypto crash, Bitcoin’s market dominance dipped to nearly its lowest levels ever. At one point on Saturday, when the entire crypto market was suffering, the market dominance of the first and largest cryptocurrency by market cap was just 38.32%.

Exchange Giant FTX Releases 10 Proposals for Crypto Market Regulators

Crypto exchange giant FTX has released a list of 10 proposals for market regulators in the US looking to oversee the digital asset space. In a new blog post, the exchange reveals what it calls “FTX’s Key Principles for Market Regulation of Crypto- Trading Platforms.” First on the list is to have one primary market regulator that would be responsible for the listings of crypto assets in spot and derivatives markets.

El Salvador at it again, Nayib Bukele announces purchase of 150 Bitcoin

While the entire cryptocurrency industry is reeling under a massive dip, President of El Salvador once again managed to find the silver lining in this storm. Earlier today, Nayib Bukele announced on Twitter that the island country had once again bought the dip as Bitcoin continued on its downward spiral.

What Ethereum 2.0 Looks Like As Vitalik Buterin Celebrates Its Birthday

The Ethereum 2.0 upgrades of the consensus layer built by multiple teams in the ecosystem promise to bring a “more scalabe, more secure, and more sustainable Ethereum”, and now Vitalik Buterin celebrates 1 year since the proof-of-stake Beacon Chain went live. Eth2 or Serenity aims to “support 1000s of transactions per second” so the high gas fees problem can be solved. The Beacon Chain, one of Ethereum 2.0’s distinct sections, has allowed users to be Eth2 validators by staking Ethereum, reportedly earning up to 10% annually, diminishing miners for transaction validation, and adding new blocks.

Ethereum Rival Terra (LUNA) May Be Gearing Up for Explosive Rally, According to Coin Bureau – Here’s the New Target

The host of the popular crypto channel Coin Bureau says an Ethereum (ETH) rival might pull off a 50% rally soon, and that the worst of Bitcoin’s (BTC) correction is probably behind us. In a new video, pseudonymous crypto analyst Guy tells his 1.7 million YouTube subscribers that he’s got his eye on open-source blockchain payment platform Terra (LUNA).

Gemini to Allow Crypto Trading in Colombia Under Government- Sponsored Pilot Program

The company plans to offer bitcoin, ether, litecoin and bitcoin cash trading in partnership with local bank Bancolombia starting in December. U.S.-based cryptocurrency exchange Gemini plans to allow users in Colombia to trade crypto through a partnership with its largest private bank, Bancolombia. Starting on Dec. 14, Gemini will allow a select group of Bancolombia’s users to trade bitcoin, ether, litecoin and bitcoin cash through an onand- off-ramp, Cynthia del Pozo García, Gemini’s principal of strategy and corporate development, announced on Monday.