Crypto

Bitcoin (BTC) returned to cement higher support on Nov. 30 after the latest BTC price comeback halted near $59,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView RSI sees “bullish engulfing” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reversing to local lows of $55,920 on Bitstamp overnight. The pair then recovered to circle $56,500 at the time of writing, with analysts keeping the faith on higher timeframe strength. Popular Twitter personality TechDev noted that Bitcoin’s stochastic relative strength index (Stoch RSI) had “reset” to levels that echo BTC/USD at $44,000 — just before the run, which culminated in all-time highs. “Bullish engulfing printed on stoch RSI cross with RSI reset to 44K levels,” he s...

Sentiment in the cryptocurrency market is back on the rise on Nov. 29 as the recent dip down into the “extreme fear” zone on the Crypto Fear and Greed Index improved slightly after Bitcoin (BTC) recovered above the $57,000 support, lifting the index higher into the “fear” zone. Fear & Greed Index. Source: Alternative.me Despite the overall “fear” and “extreme fear” sentiments that have been dominating the market since the index began to decrease on Nov. 16, several sub-sectors of the cryptocurrency market, including metaverse-related projects and gaming protocols, have seen breakouts to new all-time highs. The rapid gains seen in these projects has led to some concern that the metaverse and gaming sectors could see a significant pullback in the short term if traders take pro...

The Federal Reserve Bank of New York has announced it will be partnering with the Bank for International Settlements Innovation Hub as part of the launch of its New York Innovation Center, an initiative aimed at exploring technology used to develop the global financial system.  In a Monday speech for the opening of the New York Innovation Center, Federal Reserve chair Jerome Powell said the partnership would support the agency’s analysis of digital currencies, including the rollout of a central bank digital currency, or CBDC. The center plans to support analyses aimed at improving cross-border payment systems. “The pace of technological change and innovation over the last decade has led some to argue that we are on the brink of a fourth industrial revolution — a digital revolution,” s...

The cryptocurrency market saw a boost in sentiment after the price of Bitcoin (BTC) surged above $58,000 in a long-awaited move that rejuvenated traders who have been anxiously waiting for a resumption of the uptrend. BTC/USDT 4-hour chart. Source: TradingView Here’s a look at what analysts and traders are saying about Nov. 29’s price action and whether or not Bitcoin is likely to reclaim the $60,000 level. A $60,000 retest is “on the horizon” Bitcoin’s sudden move to $58,000 may have had caught some traders off guard, but according to independent market analyst and Cointelegraph contributor Michaël van de Poppe, the current price action is going as expected. BTC/USD 4-hour chart. Source: Twitter According to van de Poppe, following Nov. 28’s spike above $57,000, “You’d preferably want to ...

The $4,700 Bitcoin (BTC) price spike on Nov. 29 was likely a great relief for holders, but it seems premature to call the bottom according to derivative metrics.  This should not come as a surprise because Bitcoin price is still 15% below the $69,000 all-time high set on Nov. 10. Just 15 days later, the cryptocurrency was testing the $53,500 support after an abrupt 22% correction. Today’s trend reversal was possibly encouraged by MicroStrategy’s announcement that it had acquired 7,002 Bitcoin on Monday at an average price of $59,187 per coin. The listed company raised money by selling 571,001 shares between Oct. 1 and Nov. 29, raising a total of $414.4 million in cash. More bullish news came after German stock market operator Deutsche Boerse announced the listing of the Invesco Physic...

Twitter chief executive officer Jack Dorsey has resigned his position at the social media firm after serving for more than six years. In a Monday tweet to his 5.9 million followers, Dorsey said he had stepped down as the CEO of social media giant Twitter, which he helped co-found in 2006. He announced the company’s board of directors had appointed CTO and board member Parag Agrawal to replace Dorsey “starting today.” Dorsey said his decision to step down was based on the board’s approval of Agrawal, board member Bret Taylor agreeing to be the new chair, and the opportunities for upward mobility for other Twitter team members. “I believe it’s really important to give Parag the space he needs to lead,” said Dorsey. “I believe it&...

Cryptocurrency is now a hot topic in United States politics. It wasn’t always like this, however, especially since just a small percentage of U.S. politicians seem to have a baseline understanding of digital currencies. Nonetheless, it’s now a wedge issue poised to morph into a destructive political football destined to occupy a new, uncomfortable space in the consistently devolving culture war. Although this is certainly uninspiring news for common sense political discourse in the United States, it remains to be determined how this will affect the cryptocurrency ecosystem. Let’s start with how we got here.  A few legislators in Congress have been quietly working on common-sense cryptocurrency regulation for the last couple of years. These informed Democrats and Republicans in the U.S...

Michael Saylor, CEO of enterprise data analytics company MicroStrategy, announced Monday via a Twitter post and company filing that the firm purchased an additional 7,002 Bitcoin (BTC), worth approximately $414.4 million, at an average price of $59,187 per coin. MicroStrategy sold 571,001 shares of company stock between Oct. 1 and Nov. 29 at $732.16 apiece, raising a total of $414.4 million in cash. MicroStrategy has purchased an additional 7,002 bitcoins for ~$414.4 million in cash at an average price of ~$59,187 per #bitcoin. As of 11/29/21 we #hodl ~121,044 bitcoins acquired for ~$3.57 billion at an average price of ~$29,534 per bitcoin. $MSTRhttps://t.co/OA8VWG1bZX — Michael Saylor⚡️ (@saylor) November 29, 2021 As of Monday, the com...

Are big emerging economies more likely to gravitate toward blanket crypto bans? China has set a precedent, and now it appears as if India could be weighing a similar policy direction: A bill containing a proposed ban on all “private cryptocurrencies” will go in front of the nation’s parliament sometime this winter. The measure is designed to clear the way for India’s central bank to advance its digital currency agenda. Whether a sovereign central bank digital currency can coexist with a thriving market of “private” cryptos will be one of the central questions of the looming CBDC age, and it is clear that governments will be tempted to use their coercive authority to tilt the playing field in favor of the centralized money that they control. Below is the concise version of the latest “Law D...