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Blockchain

Ukubikezelwa Kwentengo yeBitcoin: Ukwenqatshelwa Kobuso BTC / USD ngemuva kokuthinta u- $ 10,828 Daily High

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Ukubikezelwa Kwamanani weBitcoin (BTC) - Septhemba 26

Bitcoin (BTC) is currently facing exhaustion after been rejected at higher levels.

Umkhondo wesikhathi eside we-BTC / USD: Ukuqola (Ishadi lemihla ngemihla)

Amanqindi amqoka:

Amazinga Okumelana: $ 11,400, $ 11,600, $ 11,800

Amazinga Okusekelwa: $ 10,000, $ 9,800, $ 9,600

I-BTCUSD - Ishadi Losuku

I-BTC / USD bulls appear to be recharging after successfully breaking back above the 9-day and 21-day moving averages touching the daily high at $10,828. At the time of writing, Bitcoin is trading at $10,695. Meanwhile, the RSI (14) shows a range-bound may play out soon but it is essential to realize that selling influence is also present and therefore, everyone must proceed with caution.

Ongakulindela ku-Bitcoin (BTC)

For Bitcoin holding above $10,500 remains key to ensuring buyers do not lose sight of the critical resistance at $11,000. Moreover, buyers must work hard to keep Bitcoin above the moving averages. A move above this barrier is likely to stir a buying frenzy in the market, attracting more investors. Therefore, if buyers overcome the seller congestion at the upper trend-line, traders can then expect BTC/USD to extend the bullish action majestically above $11,000.

Looking above that, we have the $11,400, $11,600, and $11,800 as the next set of likely resistances if Bitcoin manages to sustain its current momentum. In other words, if the bearish traders manage to defend the daily 21-day MA, however, then we should look to the $10,450 as the first area of support, falling below the lower boundary of the channel may locate the critical supports at $10,000, $9,800, and $9,600 respectively.

Umkhondo weThemu eliPhakathi le-BTC / USD: Bearish (Ishadi le-4H)

Looking at the 4-Hour chart, Bitcoin (BTC) has not yet slipped below the 9-day moving average and is still in the loop of making a bounce back. BTC/USD price hovers around the upper boundary of the channel and may take time to persistently cross the resistance level of $10,800. At the moment, the Bitcoin price is currently moving around $10,678 level.

I-BTCUSD - I-4 Ihora Ishadi

However, if BTC/USD decisively overcomes the $10,800 resistance, the next obstacles lie at $10,900 and $11,100. In other words, if the bears hold the price and push it downward, then the support level of $10,500and $10,300 may be visited as the RSI (14) may go below 55-level to indicate more bearish signals.

Umthombo: https://insidebitcoins.com/news/btc-usd-long-term-trend-ranging-daily-chart-23

Blockchain

Bitcoin Drives Market Up As DEXes Deflate

Bitcoin’s plaudits continued to weigh in on the project’s performance over recent months, while DeFi’s downturn starves decentralized exchanges.

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Ngamafuphi

  • Bitcoin’s performance continued to attract plaudits.
  • Bitcoin spinoffs have also benefitted from gains in BTC’s market cap.
  • Stock markets are hoping this week’s earning reports will give them something to cheer about.

Over the weekend, superlatives continued to pour in for Bitcoin’s performance. Leading the charge was Michael Saylor, the MicroStrategy CEO who recently snapped up $425 million in Bitcoin.

Ku-an interview with financial news outlet Real Vision, the multimillionaire boss of the business intelligence firm also said that when investing in Bitcoin, one is always worried that they are not investing enough.

“If it’s not 100 times better than gold, it’s a million times better than gold and there’s nothing close to it,” said Saylor. Here at Market Report we like to think Bitcoin is more akin to fine wines, whisky and watches, but people are entitled to their own views.

Close behind on the praise train was Kanye West, who appeared on Joe Rogan’s podcast to tell viewers that Bitcoiners have a “perspective on what the true liberation of American and humanity will be.”:

Bitcoin’s price over the weekend held steady, moving down just 0.06% in the past 24 hours.

But the Cinderella story for cryptocurrencies over the past few weeks has been the children of Bitcoin: the projects that spun out of the mother of all cryptos. We’re talking Litecoin, I-Bitcoin i-SV futhi I-Bitcoin Cash.

Over the last month, Litecoin is up 25%, Bitcoin Cash 21% and Bitcoin SV is up nearly 10% too. But while these projects have been hoisted up through the market cap ranks, the same can’t be said for DeFi projects.

Volumes on Ethereum-based decentralized ukuhwebelana have fallen off a cliff this month. Trading volume is down 41% in the past 30 days, according to data from a dashboard on metrics site Dune Analytics.

Weekly trading on ehloniphekile exchanges peaked at just over $8 billion on August 31, before activity started to cool off. Weekly trading volumes have since fallen to just under $3 billion, as of October 12, the most recent data the Dune Analytics platform has data for. That’s a decrease of more than 62% since that late summer peak.

“Decentralized exchanges were the gateways to the DeFi market. Now that the crazy yields have disappeared, the markets are correcting to lower levels of activity,” says a spokesperson from I-AAX, ukushintshaniswa kwempahla yokuqala yedijithali emhlabeni enikwe amandla yiLondon Stock Exchange.

COVID Crashes Markets

Over in the fiat markets, traders had a terrible weekend. At the time of writing, the S&P, Dow, Nasdaq, Crude Oil and even Gold were all down as cases of Coronavirus break new global records.

In the White House, several members of vice president Mike Pence’s staff have tested positive for the virus, as confirmed cases worldwide cruised past the 42 million mark and the number of confirmed deaths went north of a million.

Hopes of a stimulus package to steady the ship appear to be fading, but traders are hoping this week’s batch of earning reports will give them something to cheer about.

Apple, Amazon, Microsoft, Facebook, Google, AMD and Shopify are among hundreds of companies due to release reports this week. These tech companies all saw significant gains during the COVID era, and so traders are hoping for big things in the week to come.

Ukuxhaswa ngu I-AAX

Lo mbhalo oxhasiwe wenziwe yiDecrypt Studio. Funda kabanzi mayelana nokusebenzisana ne-Decrypt Studio.

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Blockchain

Survey: Most professional European investors bought digital assets or plan to

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To gain a deeper understanding of how professional investors feel about digital assets, Cointelegraph Consulting has published a 70+ page research report written by eight authors and supported by SIX Digital Exchange, BlockFi, Bitmain, Blocksize Capital, and Nexo. The Discovering Institutional Demand for Digital Assets report highlights which coins wealthy investors already own and which ones they plan to buy in the coming months. The report also covers the most popular regulated funds and structured products that are designed for investors from the traditional finance realm.

The total assets under management of the 55 portfolio allocators that participated in the survey was over €719 billion, which is almost double the entire market capitalization of the digital asset market. Out of those professional investors, 36% already had blockchain-inspired assets in their portfolio either through direct investment in cryptocurrencies, stablecoins, and security tokens or via funds, structured products, or futures.

Out of the remaining 64% that have not yet invested, 39.29% plan to invest. This results in 36% + 25.15% = 61.15% of professional investors in the survey either already owning digital assets or planning to buy in the future.

Download the full report here, complete with charts and infographics.

The majority of investors with exposure to cryptographic assets were primarily interested in Bitcoin (BTC) no-Ethereum (I-ETH). Around 88% and 75% of respondents exposed to cryptocurrencies have invested in these cryptocurrencies, respectively. However, institutional investors appear to be increasingly interested in security tokens. Out of the 39.29% of investors that plan to invest in the future, security tokens were more popular than Ethereum and other alternative coins.

Some investors hold cryptographic assets for speculation rather than for use as a medium of exchange. They hope to “front-run” Wall Street by buying in before bigger pockets enter the market. Putting the fear of missing out aside, there are genuine reasons to be excited about institutional investors joining the space.

The sheer size of the wealth managed by professional investors like pension funds, university endowments, and insurance companies is enough to have a dramatic impact on the entire digital asset industry if they enter the market. For years, there have been rumors that institutional investors were starting to buy cryptocurrencies, and now, the most recent academic survey, as well as news of Microstrategy, Stone Ridge and Square entering crypto, provide evidence to support this.

The survey was conducted during June through September 2020 by Professor Dr. Philipp Sandner from the Frankfurt School of Finance & Management’s Blockchain Center, Professor Dr. Alfred Taudes from the Vienna University of Economics and Business’ Austrian Blockchain Center, and Cointelegraph’s director of research, Demelza Hays. The report is co-published by Cointelegraph Consulting futhi Umbiko Wokucwaninga we-Crypto.

Cointelegraph Consulting offers bespoke research on digital assets and distributed ledger technology. Our services range from educational seminars, in-depth written reports and consulting on enterprise blockchain implementation strategies. Crypto Research Report produces free quarterly reports in German and English and premium buy-side research for governments, banks, and family offices on the topics of distributed ledger technology and asset management of cryptocurrencies.

Source: https://cointelegraph.com/news/survey-most-professional-european-investors-bought-digital-assets-or-plan-to

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Blockchain

China Cracks Down: How Will Tether Adapt to Tighter Enforcement?

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isikhangiso


The People’s Bank of China (PBoC) office in Huizhou City kumemezela Thursday, October 23rd, that three gambling sites were shut down and 77 individuals were arrested in connection with alleged money laundering.

Isikhangiso

I-1xbit

The allegations involve the suspects taking advantage of Tether USDT, a cryptocurrency pegged to the US Dollar, in their attempts to “whitewash” or conceal the history of the funds in question, totalling around 120 million Yuan or nearly 18 million US Dollars.

Recently Tether and other stablecoins have enjoyed a surge in popularity. They provide a means of stable value within the cryptocurrency market and hold great potential, in theory, for other uses like payments. However, case-in-point, stablecoins are still susceptible to misuse and continue to draw the concern of regulators. While wide adoption by enterprises is an important next step for Tether, organizations remain reluctant because of the legal and regulatory challenges they could face by doing so.

Most enforcement of KYC and AML regulations on cryptocurrency today takes place within apps and services, not on blockchains. This means bad actors can evade the rules by simply choosing a different app or service. This poses risks to enterprises who would otherwise like to adopt Tether, and to Tether itself as governments tighten enforcement.

The solution is to enforce compliance on the blockchain. Most attempts at this have used centralized or private networks – more experimental blockchains where security isn’t industry-proven nearly as much as Bitcoin. Serious enterprises usually avoid adopting these because of liability risks and the potential for other parties to distrust the ledger. On the other hand, recent attempts with decentralized blockchains have provided very limited enforcement and sub-par service that cannot scale to demands.

Isikhangiso

I-Cryptocoincoach

Izindaba ezinhle: solutions are beginning to emerge. A prime example is seen in the recent compliance developments of Syscoin, a public decentralized token platform designed primarily to scale payments to global demand. Syscoin, which is permissionless and censorship-free by default, will offer Tether and other tokens the ability to “opt-in” to compliance on a scalable network. When Tether activates this, Syscoin’s blockchain network will ensure all USDT transactions meet requirements before they are notarized (or signed, in blockchain parlance) and settled.

Syscoin’s compliance rules can use identity information, transaction history, and off-chain databases to check the legality of a pending transaction. Further, Tether will be able to apply specific rules based on country or economic zone, and update them to stay compliant with evolving regulations. These “Network-enforced Compliance Rulesets” are expected to make it easier for organizations to adopt stablecoins and blockchain tech. The Syscoin development team plans to deliver this with Syscoin Core version 4.2 which is expected Q1 2021.


Ukulandela umkhondo wezibuyekezo ze-DeFi ngesikhathi sangempela, hlola okuphakelayo kwethu kwezindaba ze-DeFi Lapha.

Umbhali: Achal Arya




Ngingusomabhizinisi futhi ngingumbhali oneziqu ze-bachelors kuComputer Science. Ngiphatha ubuchwepheshe be-blockchain kanye nezembozo ze-crypto eCoingape. ngilandele ku-Twitter ku @sbahle_mpisane noma ufinyelele kimi ku-achal [ku-] coingape.com.

Source: https://coingape.com/china-cracks-down-how-will-tether-adapt-to-tighter-enforcement/

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