Monday, January 18

Crypto News

Ethereum Signals Bullish Breakout, Why ETH Could Hit New ATH Soon
Crypto News

Ethereum Signals Bullish Breakout, Why ETH Could Hit New ATH Soon

Ethereum broke the $1,200 resistance to move into a bullish zone against the US Dollar. ETH price is showing positive signs and it is likely to continue higher above $1,300 and $1,400.ETH price is gaining bullish momentum above the $1,200 pivot level against the US Dollar. The price is facing hurdles near $1,280, but it is well above the 100 simple moving average (4-hours). There was a break above a major contracting triangle with resistance near $1,215 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher towards $1,400 and $1,500 in the coming days.Ethereum’s Ether Could Rally FurtherThis past week, bitcoin and ethereum saw a fresh increase above $1,150 and $35,000 respectively against the US Dollar. ETH price even surpassed...
Wrapped crypto assets gain traction amid surging market
Crypto News

Wrapped crypto assets gain traction amid surging market

Amid all the excitement of crypto’s biggest bull run in history, some assets have been outperforming even the current high-performing market. In particular, Synthetix (SNX) has been on an epic tear, leading the growth of the whole niche.The news of a Coinbase listing in December helped account for some of this. However, at the time of writing, SNX has increased by over 225% since mid-December, currently trading above $16.7 and cementing its position as one of the best-performing tokens in the ongoing rally.Beyond the Coinbase effect, the main reason for the increase in SNX’s price is the genuine demand for what Synthetix has to offer — namely digital, synthetic assets. So, why all the excitement about these instruments, and what are they used for?A brief history of synthetic assets...
Goldman Sachs to Enter Crypto Market ‘Soon’ With Custody Play
Crypto News

Goldman Sachs to Enter Crypto Market ‘Soon’ With Custody Play

U.S. banking powerhouse Goldman Sachs has issued a request for information (RFI) to explore digital asset custody, according to a source inside the bank.When asked about timing, the Goldman source said the bank’s custody plans would be “evident soon.”Goldman’s digital asset custody RFI was circulated to at least one well-known crypto custody player toward the end 2020.“Like JPMorgan, we have issued an RFI looking at digital custody. We are broadly exploring digital custody and deciding what the next step is,” said the Goldman source, who asked not to be named. (An RFI on crypto custody was issued by JPMorgan in October 2020, as reported by The Block.)The Goldman insider said the bank’s digital assets initiative was “part of a broad digital strategy,” citing stablecoi...
Bitcoin bulls buy BTC’s $35K support retest as altcoins push higher
Crypto News

Bitcoin bulls buy BTC’s $35K support retest as altcoins push higher

Calls for Bitcoin (BTC) to rally above $40,000 were dashed as the top cryptocurrency hit a wall of resistance which sparked a sell-off in the early trading hours.Data from Cointelegraph Markets and TradingView show the price of BTC fell as low as $34,368 before rebounding to its current price of $37,300.Daily cryptocurrency market performance. Source: Coin360It’s possible that the excitement surrounding the announcement of a $1.9 trillion stimulus bill from the incoming Biden administration quickly morphed into a buy the rumor, sell the news event as questions begin to emerge on the feasibility of parts of the bill.BTC/USDT 4-hour chart. Source: TradingViewBitcoin’s dip also comes after renewed criticism from global regulators as European Central Bank President Christine Laga...
GBTC has a new a competitor in the OTC Bitcoin trust market
Crypto News

GBTC has a new a competitor in the OTC Bitcoin trust market

A firm called Osprey Funds is offering an over-the-counter, or OTC, Bitcoin (BTC) trust under the ticker symbol OBTC. The trust is similar to Grayscale’s Bitcoin Trust, known as GBTC.“The Osprey Bitcoin Trust provides easy access to bitcoin,” the firm’s website says. “With a 0.49% management fee, it is the lowest cost solution.” Osprey is an entity that “builds digital asset solutions for intelligent investors,” claiming OBTC as its “flagship offering,” the website adds."OBTC began being quoted in the OTC market today, Friday 1/15," Osprey Funds' CEO, Greg King, told Cointelegraph, adding:"As of 1/14, the product met the requirements to become quoted under the ticker OBTC in the OTC market. Over the next 30 days, the fund will pursue DTC eligibility and after February 14, all addit...
British financial advisor calls on the gov’t to ban crypto transactions
Crypto News

British financial advisor calls on the gov’t to ban crypto transactions

Neil Liversidge, a veteran financial advisor, has called on the government of the United Kingdom to ban transactions in cryptocurrencies like Bitcoin (BTC).Liversidge, the owner of the independent financial advisory firm West Riding Personal Financial Solutions, started a petition urging local financial authorities to stop crypto transactions in the U.K. The petition reads:“Legislate to prohibit the payment by or acceptance of cryptocurrencies by UK resident businesses or individuals, and require UK regulators (the FCA and PRA) to prohibit transactions by UK financial institutions in cryptocurrencies such as Bitcoin.”Liversidge cited a common anti-crypto narrative, arguing that cryptos like Bitcoin have no intrinsic value and “can be a destabilising influence on society, and often ...
Biden’s $1.9T Plan Shows ‘Blue Wave’ Bitcoiners Saw Coming
Crypto News

Biden’s $1.9T Plan Shows ‘Blue Wave’ Bitcoiners Saw Coming

(EDITOR’S NOTE: First Mover will not publish Monday, Jan. 18, in honor of Martin Luther King Jr. Day in the U.S., a CoinDesk company holiday. The cryptocurrency market will be open, as it always is.)Bitcoin (BTC) was lower, trading around the $38,000 level where prices have gravitated for the past week.The market faces price resistance around $41,000, with support seen around $34,000, Mark Warner, head of trading for London-based BCB Group, a financial firm focused on digital assets, said in comments emailed by a spokeswoman.“A move above $42,000 will likely see a resumption of the heady gains we saw last week,” Warner said. Prices are up 29% so far in 2021, versus a 0.4% year-to-date loss for the Standard & Poor’s 500 Index of large U.S. stocks.In traditional mark...
Charted: Chainlink (LINK) Revisits $18, Why It Could Soon Break $20
Crypto News

Charted: Chainlink (LINK) Revisits $18, Why It Could Soon Break $20

Chainlink (LINK) is up 15% and it broke many hurdles near $16.20, similar to bitcoin and ethereum. The price is testing a major barrier at $18.00, above which it could test $20.00.Chainlink token price is showing a lot of positive signs above the $16.20 level against the US dollar. The price is now testing the $18.00 resistance and it is well above the 100 simple moving average (4-hours). There was a break above a key bearish trend line with resistance at $16.20 on the 4-hours chart of the LINK/USD pair (data source from Kraken). The price is likely to accelerate higher if there is a clear break above the $18.00 level.Chainlink (LINK) Rally Could Gather MomentumIn the past few sessions, there was a steady increase in bitcoin, Ethereum, bitcoin cash, chainlink (LINK)...
EU Parliament Receives Petition Seeking to Establish Crypto Crime Victims’ Fund
Crypto News

EU Parliament Receives Petition Seeking to Establish Crypto Crime Victims’ Fund

A petition to the European Parliament hopes to persuade the bloc to provide financial support to victims of cryptocurrency crime.The petition, filed Wednesday by lawyer Jonathan Levy, seeks the implementation of a “regulatory scheme to compensate victims” who were fleeced of digital assets by fraud, hacks and extortion. To date, 44 supporters have signed the petition.Levy wants the EU to implement a .0001 cent per euro fee on cryptocurrency transactions that would be pooled into a “victim superfund,” according to a press release sent to CoinDesk.The lawyer represents clients who have suffered losses exceeding €50 million (US$60.7 million) and is joined by class representatives for the 240,000 account holders caught up in the alleged exit scam by Irish cryptocurrency excha...
Bitcoin Revisits $40K, What Are Chances of BTC Hitting New ATH
Crypto News

Bitcoin Revisits $40K, What Are Chances of BTC Hitting New ATH

Bitcoin price recovered further and surged above the $38,000 resistance against the US Dollar. BTC even spiked above $40,000 and it is likely preparing for more upsides.Bitcoin remained well bid and it managed to climb above the 38,000 and $38,500 resistance levels. The price is now trading nicely above the $38,500 level and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $39,425 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could surge again if it clears the $39,400 and $39,500 resistance levels in the near term.Bitcoin Price Gains TractionAfter a successful break and a follow up move above $36,000, bitcoin price started a strong increase. BTC broke a couple of key hurdles near the $...