Bitcoin

Bitcoin price is consolidating below the $46,000 zone against the US Dollar. BTC could start a major decline if it breaks the $44,200 support zone in the near term. Bitcoin is facing a major resistance near $46,000 and $46,200 levels. The price is now trading well below $46,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $46,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a major decline… Source link

Another expert cited in the report, Cho Yeon-haeng, president of Korea Finance Consumer Federation, said “huge investor losses are expected” as trading is suspended and assets are frozen. Many of the smaller exchanges are unlikely to offer customer protection as they stare down immediate closure, he said. Source link

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Widely followed crypto analyst Benjamin Cowen has a timeframe for when Bitcoin could finally be “off to the races” on a rally past all-time highs. In a new strategy session, Cowen identifies the 20-week moving average (EMA) as the place where Bitcoin will need to hold the line in order to maintain bullish momentum.   “So the $42,000-$43,000 range is in fact where we would ideally like to hold the line. And we’ve already tested it, so if from here we move up, well then… Source link

Published Sunday, Sep. 12, 2021, 9:19 am Join AFP’s 100,000+ followers on Facebook Purchase a subscription to AFP Subscribe to AFP podcasts on iTunes and Spotify News, press releases, letters to the editor: augustafreepress2@gmail.com Advertising inquiries: freepress@ntelos.net (© Tiko – stock.adobe.com) As we live in the age of the internet, we have been using electronic methods to transfer money. It’s been more than a decade since to see Bitcoin coming into the… Source link

Institutions have been at the forefront of the crypto bull run seen since Q4 2020, but now retail investors have been taking the center stage as well. Bitcoin (BTC) is getting more popular all around the world and it officially became a legal tender in El Salvador on Sept. 7, making it a landmark event for retail and sovereign adoption of the asset. However, it turned out to be a chaotic event for the premier cryptocurrency token as the country celebrated “Bitcoin Day.” Soon after the day… Source link

Second, the implications: This path towards adoption was not what we expected. What El Salvador’s move to use bitcoin directly suggests is that dollarized nations, or those who use another countries currency and in doing so become subject to their monetary policy decisions, may prefer bitcoin’s non-monetary policy to either domestic or imported control. That’s in sharp contrast to nations like India, China and the US who use their currencies and controls over it to accomplish policy… Source link

Does Bitcoin’s recent flash crash mean Warren Buffett is right to hate crypto? The past month and a half has been bumpy for Bitcoin. After a bully first quarter of 2021 that led to an all-time peak of $63,000 per unit in mid-April, the world’s leading digital currency now hovers around $45,000, thanks in large part to a Tuesday flash crash of roughly 15%. Holdout investors who only a couple of weeks ago may have thought they’d missed an opportunity of a lifetime are now sighing with relief;… Source link

In March 2021, Sebastian received a Tweet from an account he thought was the real Elon Musk. “Dojo 4 Doge?” read the message from an account purportedly run by Musk’s team, describing a competition that promised to double the amount of crypto sent in by participants. Sebastian, who lives in Cologne, Germany, later told BBC that while he had some apprehensions, the website he was directed to looked legitimate, and the potential returns were too good to turn down. It wasn’t long before… Source link

This week’s “flash crash” that dragged bitcoin (BTC-USD) back below $50,000 — and sent other digital coins reeling in its wake — marred what should have been the momentous occasion of the first sovereign country on earth adopting a cryptocurrency as legal tender.  Despite the ugly price action, most of crypto’s true believers are still just that — even as some observers question bitcoin’s head-spinning volatility, and El Salvador’s decision to throw its weight behind it.  Michael… Source link