Bitcoin worth surge to $49K prompts a number of altcoins to hit new all-time highs

On Sunday bulls made their intentions clear by briefly pushing Bitcoin (BTC) worth above the $49,000 degree, a transfer that prompted many merchants on crypto Twitter to name for the top-ranked digital asset to knock down the psychological resistance at $50,000. Data from Cointelegraph Markets Pro and TradingView exhibits that after trading in a spread with an higher restrict close to $48,200 for a number of days, bulls managed to interrupt larger and climb to an intraday excessive at $49,242, capping a 20% rally since trading at a low of

Worst Case Scenario ELIMINATED – Fed Chairman Says They Have No Intention Of Banning Crypto… | Live Cryptocurrency News | Global Crypto Press

[embedded content] In response to a query from Representative Ted Budd of North Carolina throughout testimony earlier than the House Financial Services Committee, Federal Reserve Chair Jerome Powell says it’s acceptable to control cryptocurrency actions – however they haven’t any want to ban it. Source: https://btcupload.com/latest-cryptocurrency-news/worst-case-scenario-eliminated-fed-chairman-says-they-have-no-intention-of-banning-crypto-live-cryptocurrency-news-global-crypto-press

Bitcoin This Week: All Eyes on Fed Meeting After $10,500-Rejection

Bitcoin closed last week with a brief jump above $10,500, a critical resistance target that excited traders into booking their short-term profits. The result was a dump. Bitcoin’s benchmark symbol BTC/USD trimmed about $350 off its weekly top overnight. Furthermore, the pair fell into the same trading range that trapped its breakout moves throughout this September. Entering the new week, the technical outlook for BTC/USD remains the same as before: Fluctuate inside the $9,800-$10,400 area. Bitcoin rejects $10,500 to enter the previous consolidation range. Chart Source: TradingView Josh Rager, the

What is the bottom for Bitcoin’s crash? When should you buy BTC now?

Bitcoin has crashed from $12,000 to below $10,000 all in under a week. Six months after suffering a brutal crash, bitcoin is crashing yet again and unlike the last time, the reason is slightly different. The blame is in part on miners who seem to be selling off their holdings rapidly.How do miners fit here?While miners are an absolute necessity to the ecosystem they have and will always be a constant source of selling pressure. Miners mine bitcoin and this operation of theirs is expensive. To support the operation, miners

Here’s how Tether is bringing stiff competition to the US Dollar

Tether has become more mainstream than ever. It ranks third with a market capitalization of $13.7 B with its market dominance having increased by 2.9% since August 31, 2020.Source: CoinMarketCapHowever, this level of dominance and explosive growth makes it an outlier in stablecoins. Tether was introduced as the ‘digital dollar’ for facilitating entry into cryptocurrency markets and trading. However, it has become more instrumental to liquidity on exchanges.The Tether inflow to cryptocurrency exchanges has increased in the past 30 days. Source: ChainalysisThus it is instrumental in generating liquidity to absorb demand

MIT is helping the Boston Fed build a CBDC that can be scaled for consumer use

The MIT Digital Currency Initiative, or DCI, is helping the federal reserve bank of Boston build a digital currency with the goal of scaling for consumer use. The DCI’s director Neha Narula told Cointelegraph:“We're trying to build a high throughput, low latency transaction system that could be used by consumers and could handle the security and resilience required for a national currency.”The multi-year collaboration between the two organizations is still in very early stages and not much information is being released to the public. Yet the focus is not on building

“Wise to Exit” Bitcoin Long Positions If This Happens

A bullish Bitcoin technical pattern that has held firm since October 2019 flashed once again this week. It is an uptrend–an ascending channel–wherein BTC/USD’s momentum indicator is making higher highs and higher lows. The so-called Relative Strength Index reverses its uptrend after its tests the upper trendline of the Channel. Similarly, it bounces back after testing the lower trendline of the Channel. On August 25, the RSI fell towards the Channel support once again. The index changed directions to the upside later, confirming itself as “a great entry” for traders

Digital Asset Daily with Mati Greenspan

Well, it seems that's just what's happening here. To be fair, the small economy of Hong Kong has been double shafted. First by months of protest and now from epidemic. It seems the situation is so bad that liquidity injections into the financial markets will no longer cut the tape, they're now pulling out the big guns. The idea of free money for all is hardly a new concept. Popularly known as Helicopter Money, it was first proposed by our good friend and Nobel Libertarian Milton Friedman during the summer of 1969.