Trader comforts the market’s traumatized first timers amid falling prices

Known for its volatility, Bitcoin (BTC) recently fell more than $11,000 over a four-day period after weeks of soaring price action. Amid a fresh bull cycle, Bitcoin has likely picked up its fair share of new buyers — some of whom may not be familiar with the asset’s wild price swings, according to comments from Cheds, a crypto trader and analyst on Twitter. Cheds holds a level I CMT certification — a benchmark showing technical analysis knowledge.  “Given the recent surge in popularity of Bitcoin, we have many new investors…

3 Bitcoin price indicators prove pro traders are still bullish on BTC

This week’s $11,000 drop occurred in just 32 hours and this definitely an important milestone for Bitcoin (BTC) price.  Many mainstream media outlets perceived the correction as the start of a new bear market but data simply does not support this line of thinking. Bitcoin price may have corrected 26.5% as if dropped to retest the $30,300 support but it has since shown significant strength amidst a record-high $160 billion in derivatives volume. BTC futures daily volume, in USD. Source: coinalyze.net Spot exchanges also outpaced their previous record high that…

Ethereum is Struggling to Hold This Crucial Level Following Recent Rebound

Ethereum has been closely tracking Bitcoin’s price action throughout the past few days, which has caused it to bear witness to immense volatility The cryptocurrency’s price rocketed up to highs of $1,400 last week before facing intense inflows of selling pressure that sent it to $900 It has since recovered from this decline, and it now in the process of trying to flip $1,100 into a support level This has become a key level for the cryptocurrency, and it is now in the process of trying to rally above this…

Brian Brooks, Crypto-Friendly OCC Leader, Steps Down

United States regulator Brian Brooks will soon step down as Comptroller of the Currency, according to a Politico report. Brooks Leaves as Biden Takes Office Brooks took over as Acting Comptroller of the Currency in May 2020. In November, U.S. President Donald Trump nominated him for a full five-year term as Comptroller of the Currency. With the shift to Joe Biden’s government, Brooks is expected to step down, though a formal confirmation is still pending. Once confirmed, the news will mark another U.S. financial regulator’s departure during the ongoing transition…

Visa abandons $5.3B Plaid acquisition in the face of DoJ antitrust suit

The United States Department of Justice saw a victory in a major fintech acquisition case that could set the stage for a host of antitrust enforcements. On Tuesday, the DoJ announced that Visa and Plaid had called it quits on their planned merger. Originally announced almost exactly a year ago, Visa was planning to pay $5.3 billion for the upstart tech firm. Plaid’s ubiquitous software is designed to connect disparate systems of financial data securely. In its November 2020 complaint, the DoJ alleged that Visa was using the acquisition to…

Mark Cuban is more into crypto than he’s previously let on

The billionaire who once said he prefers bananas to Bitcoin is now tossing around crypto terms on social media like an experienced HODLer. In Twitter threads that were likely precipitated by his recent comments comparing crypto to the Internet stock bubble of the late 1990s, Mark Cuban interacted with several high profile crypto figures including Gemini co-founder Tyler Winklevoss, Gokhshtein Media founder David Gokhshtein, Tron CEO Justin Sun, and others. The Dallas Mavericks owner discussed the issues surrounding supply and demand, the costs of moving crypto, and decentralized finance, or…

U.K. Treasury Classifies XRP as Non-Security Asset

Key Takeaways The UK Treasury (aka Her Majesty’s Treasury) has released a new report on cryptocurrency regulations. The report says there are three broad categories of digital tokens: e-money tokens, security tokens and unregulated tokens.  XRP has been listed under unregulated tokens, along with Bitcoin and Ethereum, implying it is not a security. Share this article The U.K. Treasury, also known as Her Majesty’s Treasury, has listed XRP as a non-security asset in a newly published document. XRP Is Not A Security In UK In a report, the U.K. Treasury…

Here’s why IOST, Horizen (ZEN) and Avalanche (AVAX) surged as Bitcoin crashed

Bitcoin’s (BTC) recent plunge could have been caused due to profit-booking by institutional investors, according to a report by crypto fund manager CoinShares. The report noted a sharp drop in institutional inflows during the first week of the new year and weekly outflows from several crypto investment products. Crypto market data daily view. Source: Coin360 While the recent 28% decline may have scared some new investors, Bitcoin HODLers were likely unfazed as they’ve encountered six larger corrections during Bitcoin’s massive bull run in 2017. Therefore, describing a 20% fall as a…

Gary Gensler, MIT blockchain professor and Obama’s CFTC chair, to head Biden SEC

President-elect Biden has finally decided on his nominee to head the Securities and Exchange Commission. At least according to Reuters’ anonymous sourcing in a Tuesday report, Gary Gensler will be Biden’s nominee as SEC Chair. During the Obama administration, Gensler was the chairman of the Commodity Futures Trading Commission, in which capacity he was in charge of enforcing the many new provisions of the Dodd-Frank Act that followed the 2008 financial crisis. Gensler has spent most of the Trump years at MIT, teaching courses on digital assets and blockchain. If…

Bitcoin Daily MACD Flips Red For First Time Since $20K Was Taken

Bitcoin yesterday saw its largest daily red candle in its history in terms of total dollars moved. Today, the selling has continued, and it has caused the MACD to turn bearish for the first time since the leading cryptocurrency by market cap took out $20K. Is this a sign of a short term reversal, or is the top of the bull market already here? Here’s what the Moving Average Convergence Divergence indicator says about the recent price action in crypto. Have Bitcoin Bears Regained Control Of The Top Cryptocurrency? Bitcoin…