Markets

After dismissing bitcoin’s chances of challenging the US dollar as a medium of exchange, the Federal Reserve Chairman, Jerome Powell, said that the cryptocurrency could be a substitute for gold.He also doubled-down on Fed’s previous stance on potentially launching its own central bank digital currency (CBDC) by saying that there’s no need to rush it or be first on the market.Bitcoin Substitutes Gold, Not USDDuring an online conference held by the Bank of International Settlements (BIS),...

Anthony Scaramucci – the founder of Sky Bridge Capital – believes that those who haven’t gotten their hands on bitcoin yet still have a good chance of making returns and profit on the world’s number one digital currency by market cap. He also believes that volatility will become less severe as time goes by and more people and businesses agree to adopt the currency. Anthony Scaramucci Says It’s Not Too Late When It Comes to Buying BTC In a recent interview, Scaramucci...

ETH/USD – Market Is Rangebound This Past Week.Key Support Levels: $1750, $1695, $1620.Key Resistance Levels: $1800, $1875, $1900.Ethereum has been fairly static over the past week of trading as the cryptocurrency remained trapped between a range of $1875 and $1750 for the past eight days. It attempted to break the upper boundary of this range over the weekend but failed to overcome the resistance and has since dropped into the lower boundary today.Before establishing this range, Ethereum was...

Michael Saylor’s advocacy for BTC has received much recognition today and his commitment to Bitcoin entails a long-term HODLing strategy.Michael Saylor, the Chief Executive Officer (CEO) of business intelligence and software firm MicroStrategy Incorporated (NASDAQ: MSTR) has shared a number of bullish comments about Bitcoin (BTC), the world’s first and largest cryptocurrency by market capitalization. Speaking in an interview with TIME, Saylor reiterated his latest commitment to corporations,...

ADA/USD – Market Falls Into .618 Fib SupportKey Support Levels: $1.17, $1.10, $1.00.Key Resistance Levels: $1.30, $1.47, $1.46.ADA is up by a total of 10.5% since rebounding from support at an ascending trend line at $1.00 last week. After the rebound, ADA went on to surge as high as $1.46. The price surge was driven by the fact that ADA had been added to the Coinbase Pro platform.Unfortunately, it was unable to close a daily candle above resistance at $1.37 (1.414 Fib Extension level) and...

Alongside the NFT terminal, Orion Protocol will also operate a price oracle dedicated to NFTs.Orion Protocol has announced that it will launch an aggregator terminal for non-fungible tokens, the first of its kind in the cryptocurrency sector. The aim is to enhance accessibility to the market, as users will be able to trade a broader array of tokens for NFTs. As a complement to the terminal, Orion Protocol will also operate an oracle for NFTs to provide fair pricing data.Founded in 2019, Orion...

Stellar lumen price is facing resistance near $0.4100 and $0.4350 against the US Dollar. XLM price is now consolidating near $0.4000 and above the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near $0.4000 on the 4-hours chart (data feed via Kraken). The pair must clear the $0.4100 and $0.4350 resistance levels to start a strong increase. Stellar lumen price is forming a base above the $0.4000 level against the US Dollar,...

Ripple price is showing positive signs above the $0.4980 and $0.5000 resistance levels against the US dollar. The price is now well above $0.5000 and the 55 simple moving average (4-hours). There is a key rising channel forming with support near $0.4960 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair is likely to start a strong increase above the $0.5250 and $0.5300 resistance levels. Ripple price is trading in a positive zone above the...

Grayscale – provider of one of the world’s largest bitcoin funds – has announced that it is unveiling five new trusts based on assorted altcoins. Grayscale Is Giving Us More Digital Currency Trading Options Among the currencies these trusts will allow customers to invest in are Chainlink, Filecoin and Livepeer. Another trust will hold Basic Attention tokens, while a fifth will give customers a chance to invest in an asset associated with the virtual reality world...

Crypto broker e-Toro is planning to go public, clearly showing that popular digital exchange Coinbase is setting up a massive trend that others are potentially following. e-Toro Is Following in Coinbase’s Footsteps It was announced late last year that digital currency exchange Coinbase – stationed in San Francisco, CA – was planning to go public. As one of the largest and most popular crypto trading platforms in the world, Coinbase is valued at roughly $100 billion, and...