Articles

Why investing in Bitcoin RIGHT NOW might be a very profitable decision

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   Bitcoin is profitable  Based on the strong market rally of the past 6 weeks and the hard-hitting crash that followed, there is some apprehension if the market is overheating or not. An overheated market refers to a rapidly growing market that turns unsustainable. However, that does not seem to be the case when one looks at the BTC market right now. In fact, this is the best time to jump in as buying opportunity is pretty profitable at the moment. Traditionally, the 200-day moving average (DMA) is considered to be a standard indicator of buying and selling. If BTC’s price is above it, it’s usually the beginning of strong upward movement. On the contrary, movement in the opposite direction is usually an indication of a fall. Right now, Bitcoin’s price movement is in line with the 200 DMA – A clear sign that the market is not overheated. Bitcoin’s price action in line with the 200 DMA  | Source:  TradingView – AMBCrypto In fact, another buy signal comes from the Mayer multiple. The ind

Will Solana get a second-chance to prove its worth to institutional investors

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   a hike from the current $40k price band to $100k would essentially translate into a 1.5x spike. On the other hand, “introverted” altcoins like AVAX, FTM and NEAR have consistently been outperforming the broader market of late. Without much support received from either Bitcoin or Ethereum, this altcoin pack has been well-led by Solana. Source:  CoinMarketCap SOL’s price typically revolved around the $40k bracket during mid-August. In a little over three weeks’ time, the alt’s valuation managed to climb to its $216 peak. The 4x spike in such a short-span of time made almost everyone in the crypto space pay attention. In retrospect, both big and small investors have shifted their focus to alts, leaving behind the likes of Bitcoin and Ethereum. Inflow/Outflow Standings As per CoinShares’ latest weekly  report , digital asset investment products witnessed a cumulative inflow worth $57 million last week. By and large the inflow was ushered-in by Solana. As such, during last week’s market

Bitwise joins long line of Bitcoin-ETF applicants in the U.S.

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    More than 18 applications for   bitcoin -based exchange-traded funds or   ETF s have been filed with the Securities and Exchange Commission ( SEC ). None have been approved yet. Well, this doesn’t seem to  deter  more companies from continuing to file applications.  Bitwise  Index Services, a division of the investment management firm is currently trending within the community. It recently  filed a bitcoin ETF application  with the U.S. SEC. As per the filing, the Bitwise Bitcoin Strategy ETF “seeks to provide long-term capital appreciation” through futures contracts. The said fund would not directly invest in Bitcoin. Investors would gain exposure to the leading cryptocurrency through indirect investments in standardized, cash-settled BTC futures contracts, traded on commodity exchanges that are approved by the Commodity Futures Trading Commission ( CFTC ). Besides investing in cash-settled futures contracts, it may also invest in pooled investment vehicles and Canadian-listed fun

XRP lawsuit: SEC refuses to disclose documents to Ripple, cites privilege, irrelevance

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   The United States Securities and Exchange Commission [SEC] filed its “Letter Brief” regarding the list of internal documents, which according to the agency, were protected by the deliberative process privilege [DPP] and attorney-client privilege. According to the  filing  provided by attorney  James K. Filan ,  SEC claimed that “every single document that will be reviewed by Judge Netburn, in-camera is privileged.” While the SEC pointed out several documents requested by Ripple and the court, for the ongoing lawsuit, it also noted that, “…the documents are irrelevant to Defendants’ proposed defenses—even under Defendants’ relevance theory. Defendants seek the documents to put on a (wholly improper) defense that ‘the SEC staff…questioned whether XRP and other digital assets were securities’ and therefore that Defendants are not liable. Motion at 4. But none of the documents on Appendix A, except for Entry 2, address whether transactions in XRP are securities.” The SEC further noted t

Cosmos: Why traders shouldn’t miss out on this ‘ideal’ buy opportunity

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    Cosmos found some momentum on the charts post 7 September’s flash crash. After hitting the $17-mark, its price soared by a 110% in just one week. The rally was held together by corrective phases which ensured a more organic rise rather than just a sporadic jump. Now, with ATOM easing away from its ATH, the price can be expected to form a higher low and continue its upwards trajectory. The Fibonacci Extension tool can be used to determine a few targets going forward. At the time of writing, ATOM was trading at $33.8, down by 3% over the last 24 hours. ATOM 4-hour Chart Source: ATOM/USD, TradingView The upper sloping trendlines highlighted ATOM’s trajectory over the past week. Higher highs were formed at $27.5, $30.9, and at an ATH of $38.9. On the contrary, higher lows were snapped at $24.5 and $27.7. After the price hit its record high, a cooldown allowed ATOM to slip below the 61.8% Fibonacci Extension level. From here, a higher low formed anywhere above the 38.2% Fibonacci level
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   While only a recent supporter of the cryptocurrency industry, billionaire investor Kevin O’Leary has never shied away from expressing his arguably strong opinions. Even as the Shark Tank star had previously ridiculed   Bitcoin , he is now known to be a hodler who just didn’t want to irk regulators. He once again reiterated his regulatory compliant stance, during a CNBC  interview . He stated that the U.S. regulators should speed up their decision making, adding, “I don’t want to get into crypto if the regulators say it’s not okay. I can’t afford to be non-compliant.” Since he is above all, a businessman, the last thing he would want is to be in the bad books of regulators. He urged the SEC to come up with a real framework as nobody in the financial markets wanted to be “cowboys about it.” His  opinions echo  that of many industry leaders. “Mr. Wonderful” also pointed out the abundance of opportunities that lie ahead if and when a regulatory framework is enacted by the agency, especi

Why launching Bitcoin, Chivo wallet was ‘too much of a challenge’ for El Salvador President

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   The rollout of Bitcoin as legal tender in El Salvador, was a great moment for the cryptocurrency community worldwide, even as the whole event didn’t play out quite as planned. The Central American country’s president Nayib Bukele has since taken to Twitter to  reassure  the citizens that all issues will be fixed very soon while admitting that the whole process was challenging. He said, “Launching everything in three months was too much of a challenge and we made mistakes, but we are already fixing them and hundreds of thousands of Salvadorans can already use Chivo with no issues.” He did however say that new registrations have been temporarily disabled along with apps downloads for new smartphone models due to technical issues with the Chivo app. Albeit, they “will be enabled until the application has no errors,” which should only take a couple of more days, he added. The President announced that “technical errors of the Chivo wallet have been 95% fixed,” and it would take a few mor