Bitcoin’s 100 percent price rally over the past eight weeks is about to be settled, according to Florian Grummes of Midas Touch Consulting.

In his newsletter, the investment strategist writes that the BTC/USD rate is likely to go through a protracted correction. He comments that despite the euphoria that has seen prices rise more than 400 percent from their mid-March lows, the pair is still in a „severely overbought situation.“
Red flags – amid green candles

With the benefit of hindsight, certain technical indicators that measure the momentum of an asset based on its ongoing trends show that Bitcoin Champion is an overbought financial instrument. This typically means that traders‘ bid for the benchmark cryptocurrency is now higher than its actual cost, as indicated by a neutral momentum indicator.

For example, the Stochastic Oscillator, which Investopedia calls „an accurate buy and sell indicator,“ shows Bitcoin in an overbought zone on its weekly chart. A similar metric, known as the Relative Strength Indicator, also reflects that the cryptocurrency is „too hot“ at current prices.
Bitcoin broke above its classic falling trendline resistance in July, indicating a sustainable uptrend.

Grummes notes that Bitcoin remains bullish on its weekly time frame, indicating a long-term uptrend that should last through 2021. By that, he means the cryptocurrency is likely to initially correct lower or run sideways to neutralize the overbought signals. But after that, it should probably resume its uptrend.

„You also have to have nerves of steel to endure and survive potential big pullbacks in the range of 30-45% from current price levels,“ he warns.

Bitcoin’s seasonal indicator

Grummes has also measured the longevity of bitcoin corrections using his seasonal fractals. For example, the cryptocurrency faced extreme selling pressure from bears in the last two Decembers, which eventually led BTC/USD to its seasonal lows.

This time, the signs are that of a top that could last until spring.

„Often, Bitcoin’s bull run has run out of steam in early or mid-December,“ Grummes said. „Either a sharp corrective move and/or several months of sideways consolidation have followed.“

That being said, the analyst comments that Bitcoin could still form a new record high above $20,000 (a psychological upside target), but may not be able to hold the inverted level as support.

BTC/USD was trading at $19,520 at the time of this article’s publication.

US Treasury attacked by „a foreign power“, Bitcoin doesn’t care

The Treasury Card – A group of hackers, allegedly affiliated with the Russian government, has infiltrated the communication systems of several government agencies. This large-scale cyber-espionage campaign has allowed hackers to monitor the internal communications of these government entities, including those of the US Treasury.

A back door to widespread cyber-espionage

The attack has not yet been claimed, but is believed to be attributable to the Cozy Bear group, which is also responsible for the hacking of the Crypto Superstar cyber security company FireEye.

This hack was made possible by compromising an update to SolarWinds products, which offers network management services. SolarWinds‘ products are widely used by various federal entities, which triggered a widespread audit of agency systems using SolarWinds‘ products.

This hack was made possible by inserting a backdoor, named SUNBURST in one of the SolarWinds Orion software updates. According to the latest information, the hacking campaign is said to have started as early as spring 2020. The extent of the damage and the cause of the attack have yet to be determined.

SHA256 more secure than the US Treasury?

The announcement of this hack by the US media did not fail to make the crypto community react. As Bitcoin has never been hacked, it is often highlighted as one of the most secure systems in the world.

Bitcoin means trusting a SHA256 algorithm more than the U.S Treasury.
– Blockfolio (@blockfolio) December 13, 2020

The various state authorities regularly stress the risks inherent in the digital asset market, but forget to point out the benefits. Among these, the security and resilience of the network is clearly superior to that of the Treasury Department.

The FBI and the NSA refused to answer Reuters‘ questions, but are actively involved in the case, which seems to affect a large part of the US administration.

PayPal is reportedly considering acquiring crypto companies, including crypto custodian BitGo.

PayPal recently added support for cryptocurrency, causing the price of bitcoin to skyrocket.

The integration of BitGo has the potential to satisfy critics.

After its debut of cryptocurrency purchases, PayPal is reportedly considering acquiring crypto companies. One possible acquisition could be custodian BitGo, a major player in the digital currency space.

According to Bloomberg , PayPal Holdings is in discussions to acquire BitGo, a digital currency „custodian“ company. Bitcoin Supersplit review helps customers securely store large amounts of cryptocurrency. BitGo also provides up to $ 100 million in insurance to customers, backed by large insurer Lloyds of London.

The acquisition would be a notable expansion of PayPal’s foray into crypto, especially after the go-ahead for crypto purchases on October 21. According to Bloomberg, other companies could also be in the mix. PayPal is also considering partnering with the Paxos Trust Company, a regulated crypto provider.

According to sources who wanted to remain anonymous and quoted by Bloomberg, PayPal and BitGo could strike a deal within weeks. A source noted that this was not a sure thing, and PayPal could explore other acquisitions.

A major player in the sights

BitGo is a successful crypto business. In 2018, the custodian raised around $ 58 million and currently serves clients such as centralized finance company Nexo. The company has touted itself as a security solution for institutional investors, making it an attractive choice for large regulated companies like PayPal.

No less appealing is the fact that corporate security relies on “ cold storage ” wallets , which means account keys only exist offline. They also use several offline signature wallets which are more difficult to hack.

A big bet for Paypal

After the announcement that customers can buy, sell and hold digital currencies, the Paypal stock price hit all-time highs (then came back the next day).

PayPal now allows services for several cryptocurrencies, including Bitcoin, Ether, Bitcoin Cash, and Litecoin. Users can use their virtual currencies to shop from 26 million vendors. In recent years, the lack of convenience in paying with cryptocurrencies seemed to be a major obstacle to widespread adoption. In the wake of the news, bitcoin topped $ 13,000 for the first time in over a year.

However, not everyone was delighted with the positive news from PayPal. Some saw this as another middleman between users and their crypto. Others pointed out that PayPal does not currently allow the transfer of crypto off PayPal’s site to private wallets and does not give users private keys. The old adage, „not your keys, not your crypto,“ warns of the danger of this setup.

Bad news for lovers of financial privacy: The US authorities want to regulate the crypto market. Now the operator of the Bitcoin mixer Helix has been sentenced to a hefty fine.

In an official press release on October 19, FinCEN (short for Financial Crimes Enforcement Network) reported a fine of $ 60 million and ongoing criminal proceedings against the Bitcoin mixer Helix

With the Arbismart wallet and arbitrage trading platform, thousands of investors earn passive income (10.8-45% per year). The fully automated crypto arbitrage platform offers low risk, high return investments. ArbiSmart is EU licensed and regulated.

The founder, administrator and main operator of the platform, Larry Dean Harmon, is accused of money laundering and running an unlicensed money business. His projects Helix (2014-2017) and Coin Ninja (2017-2020) anonymized over 311 million US dollars through more than a million different Bitcoin transactions and thus violated the so-called Bank Secrecy Act (BSA for short), among other things.

This states that financial institutions are forced to support US authorities in detecting and preventing money laundering. This includes legally compliant customer identification checks, recording transactions and reporting suspicious activities. None of this was possible due to the lack of a license from Helix and Coin Ninja.

Order in the Wild Crypto West

Mixers are also known by names such as tumblers or blenders. These make it possible to disguise the traces of money flows and thus increase privacy. Services like Helix collect Bitcoin transfers from different addresses and mix them up. These are then divided into small amounts and sent to addresses that the payer specified beforehand.

That is not illegal per se. But if you get involved with criminals and promote or facilitate money laundering, the situation changes very quickly. Because American authorities decide that all services that do money laundering transactions are illegal. Allegations made by Larry Dean Harmon and which are still under investigation in the current criminal proceedings.

Darknet advertising creates a need for explanation

His aggressive PR strategy can be fatal for him. In the darknet, the American presented his services as an anonymous payment method for the purchase of weapons, drugs and even child pornography. It is therefore not without reason that some crypto exchanges block all addresses associated with Bitcoin mixers.

Above all, however, any authorities are listening carefully. They are more and more determined to introduce law and order into the wild crypto west. Just recently, the IRS (short for Internal Revenue Service) hired Chainalysis to crack the code of private cryptocurrencies like Monero. A contract that cost the IRS $ 625,000.

In 2020, the first penalties against illegal activities in connection with the ICO boom of 2017 also rolled in. Celebrities like Steven Seagal and rapper TI were sentenced to fines here. It also hit some companies. Due to a lack of ICO registrations, companies like Salt and BitClave have been instructed to issue refunds to their investors.

Bitcoinin hinta on aina ollut erittäin spekulatiivinen ja taipuvainen vaikuttamaan sisäisiin ja ulkoisiin asioihin, joilla on vähäinen vaikutus kryptovaluuttaekosysteemiin. Uutisten, olivatpa ne positiivisia tai negatiivisia, tiedetään heiluttavan kolikoiden hintaa villisti.

Nuo päivät massiivisissa hinnanvaihteluissa uutistapahtumissa näyttävät lähestyvän loppuaan, koska viimeisin Bitcoinin huonojen uutisten sarja näyttää vaikuttaneen hyvin vähän hinnan alentamiseen. Itse asiassa Biton on palannut yli 11 000 dollariin, ja se on hiipunut jonkin verran viime viikkoina.

Bitcoiniin suoraan vaikuttavilla tapahtumilla, kuten BitMEX: n korkean profiilin poistamisella ja tapauksilla, joita Yhdysvaltojen oikeusjärjestelmä avasi joitain avainhenkilöitä vastaan, oli hyvin vähän vaikutusta hintaan.

Lisäksi uutiset, joilla oli dramaattinen vaikutus yleisiin markkinoihin – Yhdysvaltain presidentin Donald Trumpin Covid-19: n sopimus – lähetti osakkeet alas, mutta Bitcoin ei ollut liikkeellä. Bitcoinin korrelaatiosta osakkeisiin käydään paljon keskusteluja, mutta sen on nähty laskevan huonoja uutisia osakkeista.

Aaltojen ajaminen

Sekä sisäisesti että ulkoisesti Bitcoin on kokenut joitain ankaria testejä nousevaan hintaansa viime viikolla. Uutiset BitMEX: stä ravistelivat salaustilaa ja avasivat monta silmää siitä, että säätimen taso oli vakaa jopa vakiintuneille yrityksille.

Tämäntyyppiset uutiset tarkoittavat juuri nousevaa Bitcoin-hintaa aiemmin, koska BitMEX on johdannaispörssi, jolla on markkinoiden korkein likviditeetti. Hinta ei kuitenkaan kärsinyt lainkaan, ja on itse asiassa noussut uutisten puhjettua.

Lisäksi Trumpin Covid-19: n sopimuksen vaikutus osakemarkkinoihin ja sen suhteellinen ei-vaikutus salauksessa on myös hämmästyttävä. Kun markkinat kaatui maailmanlaajuisesti Covid-19: n vuoksi, Bitcoin seurasi osakkeiden laskusuuntausta. Kuitenkin tällä kertaa Trumpin kaatumisen myötä markkinat laskivat ja Bitcoin nousi.

Tämä voi tietysti liittyä myös siihen, että Bitcoin on suojaus tällaisia ​​markkinoita vastaan, mutta se ei ole vielä osoittautunut korreloivaksi.

Uusi joustavuus

Tapa, jolla Bitcoin on onnistunut ratsastamaan näiden negatiivisten tapahtumien aallot, jotka saattavat heikentää sen hintaa, on todellakin miellyttävä, koska se osoittaa merkin joustavuudesta ja kypsymisestä. Bitcoin on todellakin kypsynyt viime vuosina, ja yhä useammat merkit ovat ilmeisiä.

On jopa todisteita volatiliteetin hallitsemisesta pisteeseen, jossa Teslan varastot ovat osoittaneet enemmän villiä liikkeitä kuin Bitcoin viime kuukausina. Vaikuttaa siltä, ​​että Bitcoin on alkamassa asettua ja löytää roolinsa maailmassa, joka haluaa muuttua maailmanlaajuisen pandemian jälkeen.

Au moment de la rédaction de cet article, BTC / USD oscille à 10592 $. Il y a eu des cas où BTC a échangé des mains en dessous de 10500 $, le maintien de l’action des prix baissiers est une tâche descendante. Dans l’état actuel des choses, la voie de la moindre résistance est toujours à la baisse. Un coup d’œil sur le graphique journalier montre la formation d’un motif de fanion baissier.

Où va le prix BTC ensuite?

En regardant l’indicateur technique RSI (14) dans la fourchette journalière, le Bitcoin Billionaire ne se fait pas avec la baisse. Malgré la baisse subie, le RSI (14) n’est pas encore survendu. Cela signifie qu’il y a encore de la place qui pourrait être explorée par les ours. De plus, la pièce peut continuer à suivre la tendance baissière dans la mesure où le prix reste en dessous des moyennes mobiles de 9 jours et 21 jours.

Du côté positif, la reprise peut ne pas être facile. Premièrement, le support devra être trié au-dessus des moyennes mobiles. Pendant ce temps, un mouvement durable au-dessus de cette barrière se situe autour de 10800 $, ce qui pourrait annuler le scénario baissier et permettre une reprise prolongée vers les niveaux de résistance à 11200 $, 11400 $ et 11600 $.

Cependant, une augmentation de la pression de vente sur le marché pourrait forcer le prix du Bitcoin sur une trajectoire douloureuse et à travers divers supports provisoires à 9900 $, 9700 $ et 9500 $

En regardant le graphique de 4 heures, les taureaux Bitcoin n’ont pas été en mesure de pousser le prix du marché au-dessus des moyennes mobiles. Le BTC / USD a survécu au support de 10000 $ alors que le marché reprend son élan à la hausse. La pièce du roi est susceptible de revenir sur le marché haussier si le prix dépasse le niveau de 10700 $. Une résistance plus élevée se situe à 10 800 $ et plus.

Binance stellt ALPHA auf seinen Launchpad- und Launchpool-Plattformen vor

Cryptocurrency Exchange Binance wird Alpha Finance Lab (ALPHA) sowohl auf dem Binance Launchpad als auch auf seiner Launchpool-Plattform starten. Der Verkauf von ALPHA-Spielmarken im Lotteriestil begann am 30. September.

Cryptocurrency Exchange Binance hat die Einführung von Alpha Finance Lab (ALPHA) sowohl auf dem Binance Launchpad als auch auf seiner Launchpool-Plattform angekündigt und damit den ersten Doppelstart auf diesen Plattformen wie Bitcoin Circuit gefeiert. Binance war nicht zu bremsen, seine neuen Projekte sowohl auf der Launchpad-Plattform als auch auf dem Anfang dieses Monats eingeführten Launchpool-Medium zu zeigen.

Laut der Ankündigung wird die Einführung des Alpha Finance Lab’s Token (ALPHA) einem Lotterieformat folgen, das den früheren Token auf der Launchpad-Plattform ähnlich ist, darunter The Sandbox, Troy und andere. Der Verkauf der ALPHA-Spielmarken im Lotterieformat begann am 30. September und wird etwa 8 Tage dauern, in denen die Benutzer die Finanzmünze (BNB) voraussichtlich für diesen Zeitraum halten werden. Der endgültige BNB-Haltebetrag für jeden Benutzer wird als Durchschnitt der 8 Tage bestimmt, wobei die Berechnung des täglichen durchschnittlichen BNB-Saldos, ein für solche Zwecke entwickeltes Tool, verwendet wird.

Der ALPHA-Token verfügt über einen Gesamtbestand von 100.000.000.000, wobei etwa 10% für die Notierung im Binance Launchpad vorgesehen sind. Der Token verfügt über eine Launchpad-Hardcap von 2.000.000 US-Dollar.

Im Binance Launchpad, der für transformative Projekte konzipierten Plattform Binance, wurden etwa 19 abgeschlossene Token eingeführt, während sich der ALPHA-Token, der als 20. Token gilt, derzeit in der „Vorbereitungsphase“ befindet. Die Launchpool-Plattform hingegen ist die Ertragsanbauplattform von Binance, insbesondere für DeFi-basierte Token.

Über den ALPHA-Token des von Binance unterstützten Alpha Finance Lab

Alpha Finance Lab ist ein vom dezentralen Finanzwesen inspiriertes Protokoll, das darauf abzielt, ein Ökosystem von Produkten sowohl in der Binance Smart Chain als auch in der Ethereum-Blockkette bei Bitcoin Circuit aufzubauen. Der ALPHA-Token ist der native Utility-Token der Plattformen. Gegenwärtige und geplante Anwendungsfälle sind u.a. Liquiditätsschürfung, Abstimmungen über die Regierungsführung und Absteckung.

L’ex gestore di fondi speculativi, diventato investitore di bitcoin e crittografo Mike Novogratz, sembra aver previsto il recente crash di bitcoin che ha colpito lo spazio. Non molto tempo fa, in un’intervista, ha detto che c’era una „frenesia speculativa“ che circondava il bitcoin che pensava stesse sfuggendo troppo di mano.

Mike Novogratz ci ha messo in guardia su BTC

Uno dei grandi problemi del bitcoin è che ogni volta che mostra segni di picco, la gente – in gran parte nuovi investitori – vuole entrare in azione. Questo andrebbe bene, tranne per il fatto che gli utenti tendono ad acquistare in eccesso il bene. Da lì, aspettano che la valuta si rialzi, e poi, una volta che lo fa, si impegnano in una vendita. Vendono tutte o parte delle loro scorte, e queste vendite tendono ad avvenire più o meno nello stesso momento.

Di conseguenza, Bitcoin non può resistere alla pressione di vendita che la gente le sta esercitando. La moneta cade nell’oblio e il suo prezzo ne soffre. Novogratz avverte che questo potrebbe essere il caso di BTC. La gente si è talmente entusiasmata per il suo recente aumento verso i 12.000 dollari che ha acquistato rapidamente diverse nuove unità di bitcoin.

Tuttavia, nel momento in cui ha raggiunto i 12.000 dollari, le cose hanno preso una brutta piega. La gente ha iniziato a vendere le proprie scorte per ottenere un rapido profitto. Da lì, il bitcoin ha cominciato a soffrire. Non è un gran modo di investire in questo modo, perché la gente vende le proprie monete troppo presto. Se volessero rastrellare più soldi, sarebbe probabilmente più intelligente aspettare potenzialmente che la moneta cresca ancora di più. Una volta che il bitcoin avrà raggiunto cifre altissime, allora una vendita non sarà fuori questione.

Spiegava Novogratz:

Sto cercando di rimanere il più ottimista e rialzista possibile su crypto, perché è davvero all’inizio del ciclo, ma dare l’avvertimento che ci sono altre cose nei mercati che mi preoccupano.

Oltre a tutta la pressione di vendita che circonda BTC, la gente si sta impegnando ogni giorno per milioni di persone a favore di nuovi progetti di cripto, il che, in ultima analisi, sta aumentando la concorrenza. Inoltre, le azioni e gli altri mercati sono afflitti da specifiche „bolle“, come le chiama Novogratz, forse la più grande delle quali è il Tesla, che ha avuto un boom da quando la pandemia del coronavirus ha davvero preso piede in America.

Anche DeFi ne è colpita

I modelli di svendita della Bitcoin stanno cominciando a contagiare anche altre monete, come quelle coinvolte nello spazio DeFi (finanza decentralizzata). Nonostante la ritrovata popolarità del mercato, sembra che molti gettoni decentralizzati vengano venduti insieme a BTC, il che sta causando ulteriori cali di prezzo in tutta l’arena digitale. Tim Plakas di Galaxy Digital Trading dichiara:

Le monete DeFi ad alta risoluzione hanno avuto il maggior successo durante la vendita di ieri, con molti di essi in calo del 20 per cento o più rispetto al bitcoin nell’arco delle 24 ore. È stata quasi un’immagine speculare di ciò a cui abbiamo assistito ieri sui mercati azionari, con molti nomi tecnologici popolari che sono stati colpiti duramente mentre il sentimento si spostava.

Geen twijfel mogelijk… De DeFi (decentrale financiën) ruimte groeit alsof er geen morgen is. Een van de grootste munten binnen de arena die zich de laatste tijd uitbreidt staat bekend als yearn finance (YFI). Tot nu toe is de munt meer dan 3.500 procent gestegen sinds vorige maand.

YFI heeft de laatste weken een grote vlucht genomen.

Terwijl iedereen dit jaar zo’n grote stap wil zetten met bitcoin – de munt is momenteel meer dan 40 procent gestegen sinds het begin van 2020 – is dit niets vergeleken met YFI, dat ook ’s werelds grootste cryptocurrency per marktkapitalisatie op een andere manier te schande heeft gemaakt… Door het verslaan van de 2017 all-time high.

Op het moment van schrijven is YFI gestegen van iets meer dan 1.000 dollar in juli naar ruim 30.000 dollar per eenheid. Zoals we ons allemaal herinneren, was de bitcoin ongeveer drie jaar geleden een reusachtige overeenkomst, omdat de valuta toenam tot de $20.000 na de handel voor slechts $1.000, ruwweg 12 maanden daarvoor. Nu wordt YFI geconfronteerd met vergelijkbare omstandigheden, alleen is de prijs van de munt deze keer ongeveer $10.000 hoger. In feite bereikte de munt bijna $40.000 op bepaalde handelsplatformen voordat hij zijn stappen een beetje terugzette.

YFI is de primaire munt van een gedecentraliseerd financieel systeem dat bekend staat als Y Earn. Mensen kunnen hun penningen gebruiken om te stemmen voor netwerkupgrades of om contant geld te plaatsen in Y Earn, dat uiteindelijk de opbrengsten en winsten van andere leennetwerken verzamelt.

Alex Kuptsikevich – een senior analist bij Fx Pro – legde dit uit in een interview:

Het geldstuk van het jaar is recentelijk de altcoin ster geworden. In een maand tijd heeft hij een twintigvoudige groei laten zien, het levende bewijs dat ‚eenhoorns‘ nog steeds bestaan, in ieder geval in crypto. De snelle groei van de munt weerspiegelt ook de populariteit van de gedecentraliseerde financiële sector. De makers van het project besloten het pad van de Bitcoin Evolution te volgen, waardoor de uitgifte van slechts 30.000 YFI-munten werd beperkt. Een dergelijk beperkt aanbod zet aan tot een snelle prijsgroei.

DeFi heeft zichzelf ook zien groeien door de pieken in de populaire token Chainlink (LINK), die de afgelopen maanden door de rangen is gestegen tot een van de top vijf van de grootste cryptocurrency’s per marktkapitalisatie. Op een gegeven moment stond LINK niet eens in de top tien. Sindsdien heeft het echter een marktkapitalisatie van meer dan 6 miljard dollar vergaard, waardoor het een van de grootste en machtigste munten is geworden.

Sommigen zijn niet overtuigd

Hoewel YFI de laatste tijd veel lof en aandacht lijkt te krijgen, heeft de munt niet iedereen overtuigd. Andre Cronje – de maker van de penning, van alle mensen – heeft opgemerkt dat de penning volledig „waardeloos“ is:

We herhalen, het heeft geen financiële waarde. Er is geen pre-mijn, er is geen verkoop, nee je kunt het niet kopen, nee het zal niet op uniswap zijn, en nee, er zal geen veiling zijn. We hebben er niets van.