BTC/USD Reclaims $38,000 Support as Bitcoin Pauses above $38,000– January 31, 2022 BTC/USD is now consolidating below the $39,000 overhead resistance as Bitcoin pauses above $38,000. The price action is now characterized by a small body of indecisive candlesticks called Doji. BTC price is likely to consolidate below the resistance for a few more days. …
Monthly archives: February 2022
NFT3 raises $7.5 million to introduce DIDs and NFTs to the metaverse
NFT3, a virtual identity network for Web3, has completed a $7.5 million seed funding round led by Animoca Brands. The round saw participation from a dozen more leading investors, including DFG Group, CMS Holdings, LD Capital, and Prometheus Labs Ventures. The platform will use the funding to further develop its decentralized identity solutions and pair …
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DeepDAO launches first-ever specialized search engine for the DAO ecosystem
DeepDAO, a data aggregator and analytics tool, has launched the first specialized search engine for the DAO ecosystem. With over 4,100 DAOs and 1.6 million people holding governance tokens, it’s becoming increasingly hard to navigate this complex, emerging world. DeepDAO’s proprietary search engine was desgined to provide those participating in the DAO ecosystem with an …
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Is Bitcoin in for a short Squeeze? 4 bullish trends to look out for
Bitcoin is now into its 12th week of the prevailing drawdown since the all-time-high, and derivatives traders are betting on more downwards movements by the premiere cryptocurrency. Meanwhile, on-chain demand models suggest a more bullish undertone is in play, according to on-chain analysts Glassnode. “As a percentage of the Bitcoin market cap, open interest in …
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India Announces Upcoming Launch of Central Bank Digital Currency, Digital Rupee, to Be Issued by RBI
The Indian government has announced the upcoming launch of the country’s central bank digital currency. The digital rupee will be issued by the Reserve Bank of India (RBI) in the financial year 2022-23, Indian Finance Minister Nirmala Sitharaman said during her budget speech. RBI’s Digital Currency, the Digital Rupee, Coming Soon India’s finance minister, Nirmala …
El Salvador Rejects IMF Call to Abandon Bitcoin as Legal Tender
El Salvador has rejected the recommendation by the International Monetary Fund (IMF) to drop bitcoin as legal tender. The country’s finance minister reportedly “angrily” said, “No international organization is going to make us do anything, anything at all.” El Salvador Says No to IMF on Bitcoin The government of El Salvador has rejected a recommendation …
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Bitcoin Market Dominance Hit Highest Since November 2021, No Alt Season in Sight
After reaching its biggest market capitalization dominance since November 2021 last week, Bitcoin is regaining market share from altcoins. The pioneer momentarily accounted for almost 42% of the global crypto market cap in late January, according to CoinMarketCap data. Bitcoin Dominate Alt coins Since its inception, Bitcoin has been the most popular cryptocurrency. Its domination …
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Solana’s Outlook Bullish Post Phantom’s Fundraising Round
Solana was on rebound as the coin was seen trading above the $100 mark. At the time of writing, Solana was exchanging hands at $107.82. This token’s recovery came right after Phantom, Solana’s native wallet concluded a successful fundraising round. In recent times, as the cryptocurrency market experienced a major-sell off, Solana too hovered in …
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Bitcoin Price Rises As El Salvador Rejects IMF Call To Ditch BTC
Bitcoin started rising with the news El Salvador rejected the IMF request to drain BTC as a currency. In response, Bitcoin grew to a 14-day high price level, adding more than a quarter trillion US dollars into the crypto market. Price tendency follows the pathetic month for cryptocurrency since March 2020. At that time, Bitcoin …
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Bloody Altcoin January Shows Why Bitcoin Remains The Crypto Safe Haven
Bitcoin has outperformed all crypto Market Cap-Weighted Indexes in January as traders turn to less risky assets amidst fear over the Federal Reserve tightening, thus the king of digital assets claims its position as crypto’s safe heaven. Related Reading | Bitcoin Begins To Form A Bottom? Why $40K Is The Next Target Bitcoin As a Crypto …
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Bitcoin Volatility Drops To 15 Month Low; What This Could Mean
Is this the calm before the storm? Bitcoin volatility is seldom this steady. After a tumultuous downturn that had the whole market upside down, bitcoin’s fiat price is relatively flat. Everyone can breathe and rest, for a while at least. What does this mean and how long will it last, though? That’s what we’re here …
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Willy Woo: ‘Peak fear’ but on-chain metrics say it’s not a bear market
Bitcoin analyst and co-founder of software firm Hypersheet Willy Woo believes that on-chain metrics show that BTC is not in a bear market despite observing “peak fear” levels. Speaking on the What Bitcoin Did podcast hosted by Peter McCormack on Jan. 30, Woo cited key metrics such as a strong number of long term holders …
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Jack Dorsey: Diem was a waste of time, Meta should’ve focused on BTC
Twitter founder Jack Dorsey said that Meta’s failed cryptocurrency project Diem was “wasted effort and time,” and it should have focused its efforts on “making Bitcoin more accessible for everyone.” MicroStrategy CEO Michael Saylor interviewed Dorsey on Tuesday at his company’s “Bitcoin for Corporations 2022” conference about how corporations could integrate and use Bitcoin (BTC). …
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Bitcoin Will Need Help From the Stock Market To Kick Off Reversal, According to Crypto Analyst Benjamin Cowen
A popular crypto analyst is looking at historical Bitcoin (BTC) trends as well as the US stock market to determine when the cryptocurrency might regain some positive momentum. In a new strategy session, Benjamin Cowen tells his 705,000 YouTube subscribers that steep corrections like the one Bitcoin has experienced since reaching an all-time high above …
Bitcoin On-Chain Environment Suggesting Bullish Undertones, According to Analytics Firm Glassnode
Blockchain analytics firm Glassnode says that Bitcoin’s on-chain fundamentals have hints of bullishness, suggesting that recent market correction could be close to over. In its latest report, Glassnode says that while most derivatives traders are betting on more downside for BTC, on-chain models are hinting that a more bullish undertone is in play. The firm says …