Tag Archives: BTCGBP

Technical Analysis By: Edris Daily timeframe: Source: TradingViewBitcoin has been dropping impulsively in the past couple of weeks after being rejected from the 200-day moving average. This level has historically acted as a strong resistance during previous bear markets, and the price failing to break back above it may be considered a bad sign. The price has also broken below the 50-day and 100-day moving averages and is currently retesting them from below. These levels...

According to research conducted by KuCoin, the growing number of Nigerians investing in crypto is propelled by the lack of proper fiat-based opportunities. The study revealed that over 30 million of Nigeria’s population had traded digital assets in the past six months. The Reasons Behind the Adoption KuCoin’s latest “Into the Cryptoverse Report” found out that 33.4 million Nigerians, or 35% of those aged 18 to 60, have owned or traded cryptocurrencies in the last six months....

The US Bureau of Labor Statistics (BLS) unveiled the Consumer Price Index (CPI) reading for March 2022 earlier today. It showed year-over-year inflation at 8.5%, breaking another 40-year high. The CPI tracks the prices of common consumer goods in the United States, such as food, energy, shelter, and transportation. The BLS updates monthly CPI figures roughly ten days into each following month. This month shows an all items index increase of 8.5% from last March, up from...

The 200-day moving average has significantly hindered the recent bullish surge, resulting in a substantial price decline. Bears are currently in control of the market, and the price is plummeting with a strong momentum, which resulted in a break below the 50-day and 100-day moving averages. Technical Analysis The Daily Chart:  Technical Analysis By Shayan The $37K and $34K demand zones are the next levels of support for Bitcoin. If the price is supported by the short-term...

According to a recent research conducted by Nasdaq, 72% out of 500 financial advisors will be more likely to invest client funds in digital assets if the US watchdog greenlights a spot ETF. Among those already part of the market, 86% said they will increase their exposure over the next 12 months. Spot Bitcoin ETF Could Attract More Investors Last year, the US Securities and Exchange Commission (SEC) greenlighted the ProShares Bitcoin Strategy futures-backed ETF, ticked BITO....

Under threat of greater rate hikes from the Federal Reserve, Bitcoin is plunging to a monthly low, alongside stocks. Hundreds of millions of dollars in liquidations have been set off across the crypto market in the process. Last week, Bitcoin fell back below $45k despite having a bullish late March. This came following hawkish comments from Federal Reserve Governor Lael Brainard, who said that the task of reducing inflation pressures was “paramount” the previous day. Stocks...

US Rep. Norma Torres (D-CA) introduced the Senate Accountability for Cryptocurrency in El Salvador Act (ACES) Monday. Rep. Rick Crawford (R-AR) co-sponsored the bill. Rep Torres averred: “El Salvador’s adoption of Bitcoin is not a thoughtful embrace of innovation, but a careless gamble that is destabilizing the country.” The bill instructs the State Department and heads of other US federal departments and agencies to study the adoption of bitcoin in the Pacific Central...

Bitcoin’s price rally slowed down after getting rejected at the 200-day moving average line amid the $48K range. The 1-Day Timeframe Technical Analysis by Edris The price dropped lower since the MA200 rejection and is currently retesting the 50-day and 100-day moving average lines. These MAs have also printed a bullish cross recently, as the 50-day MA has crossed above the 100-day MA. The $42K level is currently holding the price, is also a significant horizontal support...

The United States could lose its preeminent financial and political influence in the world as other sovereign powers make haste to legalize and adopt Bitcoin as their reserve currency. The threat to America is not merely a matter of leaving an (increasingly plausibly) enormous amount of money on the table. Bitcoin is the largest ever deployment of strong public-key cryptography in history to secure a financial system that is growing parabolically. The cryptocurrency has...

One of the most successful tennis players of all time – Serena Williams – teamed up with Block Inc’s money transfer service provider – Cash App – to provide women and people of color with further financial access to bitcoin. She praised the primary cryptocurrency as the leader in the industry, calling it a ”super-strong investment.” Williams is a Bitcoin Bull The Jack Dorsey-led firm – Block – announced the collaboration with the tennis superstar at the Miami Bitcoin...