Crypto

Bids for Ethereum’s native token Ether (ETH) could rise to $13,000 in the next two months if history repeats. So shows a fractal indicator from 2017, consisting of at least four technical patterns that were instrumental in pushing the ETH price up by over 7,000%. The same set of bullish indicators have flashed once again in 2021 as Ether trades above $3,350 after rallying over 360% year-to-date. The 2017 Ethereum fractal, explained In detail, the four technical indicators are Stochastic RSI, Relative Strength Index (RSI), Bullish Hammer, and a Fibonacci retracement level. It started with the Bullish Hammer’s occurrence on Ether’s monthly chart in December 2017, followed by a 7,000% price rally in the next six months. The Hammer-led massive upside move pushed Ether’s...

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Lisa N. Edwards, a cryptocurrency trading specialist who runs and co-owns Getting Started In Crypto. Lisa is an Elliott Wave specialist trader with 20-plus years of experience in traditional stocks and commodities, now exclusively trading cryptocurrency. She runs and co-owns Getting Started In Crypto, Thousand To Millions and The Moon Mag with Josh Taylor. Lisa is widely experienced, with previous business ventures including Satoshi Sisters, Trading Places VIP, D4.Partners and CoinRunners. Outside of trading, Lisa has a flourishing career in the media and film industries, with a cryptocurrency-t...

Brazil Stock Exchange (B3), one of the world’s few exchanges trading Bitcoin (BTC) exchange-traded funds, is exploring ways to provide data inputs for the country’s central bank digital currency, or CBDC. Luis Kondic, managing director of listed products and data at B3, claimed that the stock exchange is considering providing oracles to bridge external data with Brazil’s projected CBDC, the digital real. The executive provided his remarks at a CBDC-related online event hosted by the Central Bank of Brazil on Thursday, Cointelegraph Brasil reported. “We are looking at it and evaluating the best ways to interact and participate in this ecosystem. However, I believe this is something for us to evolve and move forward to meet the future needs of this programmable cash payments system,” Ko...

Bitcoin (BTC) failed to break the so-called September curse, with its price falling by a little over 7% into the month despite a strong rebound rally right ahead of its close. Nonetheless, Bitcoin looks to be making a comeback in October, a month known for painting aggressive bullish reversals. Bybt data shows that Bitcoin has closed October in profit the majority of the time since 2013 — with a success rate of over 77%. Last year, the cryptocurrency surged by 28% to reach levels above $13,500 after finishing September at around $10,800, following an approximate 7.5% decline. Bitcoin monthly returns since 2013. Source: Bybt Similarly, Bitcoin climbed higher by over 10% by the end of October 2019 despite plunging by around 14% the previous month. That made September look like a sell-of...

The International Monetary Fund (IMF) released a set of actionable policies for the emerging markets and developing economies to ensure financial stability amid global crypto adoption.  The IMF believes in the potential of crypto assets as a tool for faster and cheaper cross-border payments, citing the dramatic increase in the value of the crypto markets despite the bearish trends from May 2021. The report attributes high returns, transaction costs and speed and reduced Anti-Money Laundering (AML) standards as the primary drivers for crypto adoption. To counter the resultant financial stability challenges as a result of increased trading of crypto assets, IMF recommends: “Policymakers should implement global standards for crypto assets and enhance their ability to monitor the crypto e...

There has been a lot of talk about how blockchain unlocks endless enterprise opportunities. And although all this buzz has not entirely translated to tangible results, the explosion of the decentralized finance and nonfungible token (NFT) markets has laid down markers on what is achievable and how blockchain can truly impact even the most conservative industries. So unlike two to four years ago, developers, entrepreneurs and businesses are not just blindly joining the bandwagon. It is no longer about what blockchain can do. Now the questions being asked revolve more around how best to utilize the technology for the best results. Therefore, blockchain has slowly evolved from a buzzword to mainstream adoptable technology. If this does not indicate real growth and development, then what does?...

Investors who survived the 2008 financial crisis understand the importance of liquidity. When an economic recession starts, deflationary pressure hits the market, and buyers disappear. Sellers frantically try to sell assets before their prices drop further, but buyers want to de-risk and go into safe-haven assets, such as treasury bonds and money market funds.  The lack of liquidity associated with nonfungible assets is the one reason why investors may think they are riskier than cryptocurrencies. When an investor wants to sell Bitcoin (BTC), they can easily sell to an order book of buyers at various price points. If a seller doesn’t sell their Bitcoin today, they can easily come back tomorrow and part ways with their Bitcoin in favor of willing buyers. In contrast, nonfungible tokens...

The dramatic short squeeze of the stock of video game retailer GameStop this January was the moment when r/WallStreetBets finally transformed from a humble Reddit forum into a financial force that can no longer be ignored. But lost among the memes, trading app drama and hand-wringing over the sanctity of the stock market was one surprising outcome: GameStop’s share price didn’t just rise — the company actually listened to its many new retail investors and aggressively ramped up its strategy to focus on e-commerce. Rather than just a one-off market glitch, the investments made by r/WallStreetBets users resulted in the real transformation of a company that many in Wall Street had been predicting the demise of. Related: GameStop inadvertently paves the way for decentralized finance You’d thin...

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week DOGE co-founder sets sights on Ethereum bridge and NFTs for mass adoption Billy Markus, the co-founder of the beloved Dogecoin (DOGE), emphasized the importance of completing an Ethereum-to-Dogecoin bridge on Thursday, citing that the asset could be integrated for payments on Ethereum-based NFT marketplaces. Markus stated that there is “high demand” to purchase NFTs within the crypto community and that enabling NFT purchases with DOGE “greatly increases its utility.”   The development of a Dogecoin–E...

On Oct. 1, the cryptocurrency market experienced a 9.5% pump that drove Bitcoin (BTC) and Ether (ETH) to their highest levels in 12 days. A variety of reasons have been attributed to the price move, including the U.S. consumer price index, exchanges’ diminishing supply, and a “cup and handle” bullish continuation chart formation. Traders are not likely to find an explanation for the sudden move, apart from investors regaining confidence after the Sept. 19 drop was attributed to contagion fears from China-based property developer Evergrande. The Ethereum network has been facing some criticism due to the $20 or higher transaction costs caused by the nonfungible token (NFT) sales and decentralized finance (DeFi) activity. Cross-chain bridges connecting Ethereum to proof-of-s...

Bitcoin (BTC) stayed higher on Oct. 2 after a “fantastic” break to the upside upended market sentiment. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader eyes $45,000 BTC price floor  Data from Cointelegraph Markets Pro and TradingView followed eerie calm on BTC/USD after Friday’s sudden upside volatility saw $3,000 added in an hour. The classic “short squeeze” saw no significant pushback into the weekend, with Bitcoin preserving levels above the August close. For Cointelegraph contributor Michaël van de Poppe, it was now a question of what form a consolidation period could take in the coming days. “If we want to get any corrective move at all, I think you don’t want to see it go that far down,” he warned in a YouTu...

An international chess tournament, Meltwater Champions Chess Tour (MCCT), has announced it will mint nonfungible token (NFT) trophies and collectibles to preserve the game‘s most defining moments forever.  The winner of the MCCT will be awarded an NFT trophy, marking mainstream crypto involvement from the international chess community. The tournament’s finals will see participation from grandmaster Magnus Carlsen and nine other professional chess players, including Wesley So. According to an official statement, Chess Champs will mint two editions of the Champion’s Trophy NFT, allowing fans to obtain a replica of the trophy through an online auction. Moreover, the company will also release a series of NFT collectibles attributed to “the moves, the moments and the players” on the chess ...