Bitcoin (BTC) Is Eyeing a Significant Bounce, According to deVere Group CEO Heres His Timeline – The Daily Hodl

The CEO of financial advisory firm deVere Group says Bitcoin (BTC) will rally within the year as the crypto market downturn approaches a bottom.

In a new company blog post, Nigel Green says Bitcoin is on track to see a significant bounce by the last quarter of 2022 after the flagship crypto asset broke its longest weekly losing streak in history.

The price recovery has started, probably much to the chagrin of crypto cynics and Bitcoin bashers. I believe that well soon see a bull run that will lead to a significant bounce in the fourth quarter of the year for the worlds leading digital currency.

Nigel explains why he thinks that the price of BTC will soon recover.

One good indicator that the bottom is near is that tracking services reveal that insiders are on a buying spree. Theyre taking advantage of reasonable valuations to top-up stakes in quality companies in order to create and grow wealth in the longer term. Bitcoin will benefit from a stock market rally as investors move back into riskier assets.

Nigel also thinks Bitcoin will rise again because investors see the crypto asset as a viable store of value and a hedge against inflation.

In addition, investors are increasingly seeing Bitcoin as an alternative to the dollar. The US government started feverishly adding digital dollars to its economy during the pandemic, diluting its value, but adding to the long-term prospects of Bitcoin.

Nigel says Bitcoin will be flying by the end of the year and the rally will be supported by investments from major institutional investors.

Featured Image: Shutterstock/Joy Chakma

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Bitcoin (BTC) Is Eyeing a Significant Bounce, According to deVere Group CEO Heres His Timeline - The Daily Hodl

Bitcoins move to $32.4K was a fakeout Heres the price level most BTC traders are waiting for – Cointelegraph

The end of the first week in June brought more pain to global financial markets as the tech-heavy Nasdaq composite closed the day on June 3 down 2.3%, while the S&P 500 shed 1.4% of its value.

The cryptocurrency market hasnt faired any better and data from Cointelegraph Markets Pro and TradingView shows that an early morning attempt to push Bitcoin (BTC) above $30,000 was hit with a wave of selling that dropped it to a daily low of $29,286.

Heres a look at what several market analysts are saying about the outlook for BTC as it remains pinned inside a narrow trading range.

Bitcoins' slide back into its current range was expected, according to crypto trader and pseudonymous Twitter user Altcoin Sherpa, who posted the following chart highlighting the price pullback into the middle of its recent trading range.

Altcoin Sherpa said,

Fellow trader and pseudonymous Twitter user ShardiB2 likewise lamented the price pullback into the trading range, noting that Elon, Dimon, Goldman, etc., saying [the] economy is going to be shit for a while is going to weigh on markets.

ShardiB2 said,

Further insight into what levels to keep an eye on for a good entry was offered by EmperorBTC, who posted the following chart highlighting the previous range high acting as the resistance.

EmperorBTC said,

Related: The crypto market dropped in May, but June has a silver lining

An estimate on how long crypto traders can expect the current market struggle to persist was provided by Twitter user Crypto Rover, who posted the following chart outlining the formation of a bullish reversal pattern.

Crypto Rover said,

The overall cryptocurrency market cap now stands at $1.217 trillion and Bitcoins dominance rate is 46.3%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Bitcoins move to $32.4K was a fakeout Heres the price level most BTC traders are waiting for - Cointelegraph

PayPal Lets Users Transfer Bitcoin and Ethereum to External Wallets – Decrypt

PayPal announced on Tuesday that crypto users can now move funds off its platform, a long-awaited feature that will make the company's offering more like other popular cryptocurrency services.

"Starting today, PayPal supports the native transfer of cryptocurrencies between PayPal and other wallets and exchanges," the financial giant said in a statement.

The ability to conduct external transfers on PayPal's crypto platform, an image of which can be seen below, will start rolling out to users today and be available to everyone in the U.S. in the next week or two.

PayPal first launched its crypto offering in late 2020, allowing users to buy, sell, and hold four cryptocurrenciesBitcoin, Ethereum, Bitcoin Cash, and Litecoinbut not to move the funds to external destinations like MetaMask, Coinbase, or hardware wallets.

The fact users now can do this is significant because PayPal, which also owns the popular app Venmo, is used by hundreds of millions of people across the world to move money, and is increasingly used by merchants as a payment platform.

It's also notable that PayPal is not backing off its ambitious crypto plans despite a financial downturn that's seen the company's share price get battered in recent months.

In an interview with Decrypt, a PayPal executive said the company is taking the long view when it comes to pursuing a crypto strategy.

"The whole reason we're in crypto is because we believe a substantial portion of commerce is going to move to digital currencies," said Jose Fernandez da Ponte, the company's SVP of blockchain and crypto.

Fernandez da Ponte added this is a big reason the company doesn't charge for crypto transactionsnamely, because its crypto plans revolve around commerce, not operating an exchange business. He also noted that PayPal is bullish on more countries embracing stablecoins and central bank currencies, a development that would favor the company's business model.

It's unclear for now how much crypto is contributing to PayPal's bottom line, especially as the company doesn't disclose how many people are using its Bitcoin and Ethereum service. If the likes of Coinbase and Robinhoodtwo firms with large crypto businessesare any comparison, the volume of crypto transactions at PayPal has likely dropped significantly with the recent market downturn.

Fernandez da Ponte said he's unfazed.

"Theres a lot of discussion about crypto winter, but its important to see beyond that," he said. "The macro trend [of broad crypto adoption] is undisturbed."

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PayPal Lets Users Transfer Bitcoin and Ethereum to External Wallets - Decrypt

Bitfarms Worried About The Fall In Bitcoin Prices Amidst Its Investment Plan in Latam Mining Bitcoin News – Bitcoin News

Bitfarms, a global bitcoin mining company, has told that the price of bitcoin, above all other elements, is one of the most important factors for the future of the industry. Damin Polla, Bitfarms Latam General Manager, stated that countries like Argentina, where Bitfarms is currency building a bitcoin mega-mining center, were a very good destiny for bitcoin mining companies due to different factors.

Bitcoin mining companies are starting to feel the effects of the deceleration of the price of bitcoin in crypto markets. The company has declared that the fall of bitcoin prices, above all elements, is the most important problem that miners are facing right now. This has affected the company directly due to its holdings, taking its valuation from a unicorn status to a sub $500 million currently.

In an interview given to local media, Damian Polla, Bitfarms Latam General Manager, stated:

The biggest challenge facing the sector in the short term, both in Argentina and globally, is the fall in the price of bitcoin, which reduces revenues and increases operating costs.

Polla also considered this fall in prices as proof of the advance of the cryptocurrency market, which he qualified as being mainstream in global markets due to its correlation with other traditional equity indexes.

The company, which has a quota of 1.5% of the global Bitcoin hashrate, has made important investments in Argentina and Paraguay. The company is currently building a Bitcoin mega farm in Argentina, that will be designed to host 55K miners with a power capacity of 210 megawatts. While other companies in the country are executing layoffs as a plan to resist the announced upcoming economic phase, Bitfarms is currently generating 200 jobs with the construction of the mentioned mining facility.

Polla revealed the factors that had made Bitfarms put its investment in the country instead of taking them elsewhere. He explained:

Argentina is a very good destination for an investment of this type because it offers competitive energy prices, quality human resources, and a very active cryptocurrency ecosystem. Despite the economic ups and downs, the crypto ecosystem in Argentina is a leader in the region.

While the company is not currently planning new investments in the area, Polla explained that Bitfarms is always evaluating new opportunities in Argentina, Latam, and even the U.S.

What do you think about Bitfarms opinion on the challenges of the mining sector? Tell us in the comments section below.

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Heres What Historically Happens to Bitcoin After Reaching Its Death Cross, According to Top Crypto… – The Daily Hodl

A popular crypto analyst is revealing what history says will happen to leading digital asset Bitcoin (BTC) after it once again reaches its death cross.

In a new video update, pseudonymous analyst Rekt Capital tells his 44,000 YouTube subscribers BTC has recently hit its death cross once again, meaning its short-term moving average has dipped below its long-term moving average.

According to the analyst, large price drops historically tend to happen both before and after BTC reaches the death cross.

A death cross is what precedes macro downtrends and if we look about across cycles, minus 73% is the downside we see over the time, over a period of 135 days before that first death cross happened, and this is in 2014, late 2013.

The trader goes on to mention that a similar pattern formulates every time Bitcoin has reached its death cross over the years, except in 2021.

According to Rekt Capital, this deviation didnt last long. BTCs latest death cross has it reforming the pattern.

While the 2021 period was a deviation from death cross form and historical tendencies where the death cross was actually preceded a bottom and upside, in this current period, were actually seeing a return to form where death crosses actually precede further downside.

However, the analyst says that even though there is historical precedent for a large drop, he doesnt necessarily believe BTC will see such a massive downswing and gives a price target for investors to keep an eye on.

We cant really say that this is a guarantee, that were going to see minus 70% because that would happen in the 2013 cycle. Were in the 2022 cycle, almost 10 years ahead. Could we really see such a volatile retracement of 70%?

It seems unlikely but its all about watching out for the $22,000 price region.

I

Featured Image: Shutterstock/Leonid studio/Sensvector

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Shock And Awe: Bitcoin Lightning Network Capacity Reaches New ATH | Bitcoinist.com – Bitcoinist

The adoption of the bitcoin lightning network has been on the rise for a while now. This was especially pronounced during the multiple bull rallies of 2021. It triggered an accelerated rate of adoption. Thus leading to network congestion due to all of the new users moving in. Naturally, transaction fees had risen while confirmation times had slowed. The lightning network preferred a solution to this by not being only faster but cheaper at the same time.

The bitcoin lightning network capacity had been tethering around 1,000 BTC by this time last year. Mostly because users were still comfortable transacting on the bitcoin network and confirmation times were reasonable. However, with massive adoption came the need for more capacity. The move to the bitcoin lightning network was accelerated by significant events in the space such as El Salvador making the cryptocurrency a legal tender.

Related Reading |JP Morgan CEO Says More Pain Ahead For Bitcoin, Ethereum, Cardano Investors

Since then, the growth of the bitcoin lightning network has been apparent. By December 2021, the lightning network capacity had more than doubled to be sitting above 3,000 BTC. Being a layer 2 solution, it was speculated that its capacity would hit a peak and start declining but that would not be the case.

By April 2022, the lightning network capacity had grown to more than 3,600 BTC. Since it allows users to carry out micro-transactions with very little transaction fees, more users are opting to use the lightning network for their transactions, hence the 9% growth that has been recorded in less than two months.

As of June 5th, the bitcoin lightning network capacity was sitting at 3,950. This growth rate indicates that more bitcoin users and investors are choosing to use the layer 2 solutions to carry out transactions off-chain.

The bitcoin lightning network has been around for a while now and like a lot of layer 2 roll-up solutions, has taken some time to catch on. However, what has been observed with solutions like these has been their accelerated growth rate once they have been tried and tested by users in the space.

This is actually evident in the growth trend of the lightning network. Even after bottoming out at the start of the year, it has been able to pick back up, growing 6% in the month of May alone. This is the fastest growth rate recorded since October if 2021. It also translates to a 100% yearly growth rate in lightning network adoption.

Related Reading |The Bottom May Not Be In, But How Low Can Bitcoin Go?

Although the bear market has been affecting the adoption of bitcoin, those already in the space continue to look towards other ways of carrying out cheap transactions. If the growth over the past month is anything to go by, then the lightning network capacity could be gearing for another run like the one recorded in the summer of 2021.

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Does Bitcoin Need Regulation? – Bitcoin Magazine

Watch This Episode On YouTube

Listen To The Episode Here:

In this weeks episode of Bitcoin Bottom Line, hosts C.J. Wilson and Josh Oszelwicz are joined by guest Yankun Guo, a corporate and financial regulations attorney at Ice Miller, to discuss cryptocurrency regulations and how they intersect with law.

Guos interests lie in bridging the gap between technology and law. She explains her tasks as working with companies to help navigate new emerging technologies. Guo highlights the complex and evolutionary nature of the relationship between cryptocurrency and regulation and shared, One thing that is exciting about crypto is that, depending on what you do with it, you fall under a different jurisdiction, a different law or regulation.

As they dive deeper into this relationship, Wilson explains, Crypto is 24/7, Bitcoin trades 24/7, a lot of people think the law is sort of like 9:00 to 5:00. He goes on to ask, Is it going too fast for laws to catch up? Or are there certain instances where the laws have been ready, or really old laws are still applying even though its a brand new marketplace?

To this, Guo explains that in many cases older laws are being applied, but she pushes for evolution to, educate legislators and policy makers to make sure that the laws do catch up and hopefully foster innovation so that it doesnt impede progress.

Wilson then discusses the ways in which regulations can be variable from state to state. Guo explains that it is difficult to navigate because, No company, especially if you are a technology company, operates purely in one state you have federal regulations, as well as state-by-state regulations you have to follow and case law on top of that. When discussing regulations in the United States as a whole, Wilson refers to it as a double-edged sword, balancing safety and assurance, with comparably higher regulations. Guo explains that an increase in regulation has also been met with an adoption of cryptocurrency and Bitcoin on a wider scale. In the end, Wilson asks Guo What would better laws and rules look like? to which she outlines a two-step process to reach clarity and understanding, starting with What are we trying to achieve? Followed by What are the steps to get there?

Listen to the full episode for more!

Disclaimer: The opinions presented herein are solely of the individual and not necessarily representative of Valkyrie Investments Inc. and their affiliates. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss of your investment. Past performance is not indicative of future results.

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GitHub drops Atom bomb: Open-source text editor mothballed by end of year – The Register

On December 15, Microsoft's GitHub plans to turn out the lights on Atom, its open-source text editor that has inspired and influenced widely used commercial apps, such as Microsoft Visual Studio Code, Slack, and GitHub Desktop.

The social code biz said it's doing so to focus on cloud-based software.

"While that goal of growing the software creator community remains, weve decided to retire Atom in order to further our commitment to bringing fast and reliable software development to the cloud via Microsoft Visual Studio Code and GitHub Codespaces," GitHub explained on Wednesday.

GitHub Codespaces is a cloud-hosted development environment that integrates Visual Studio Code.

In June 2018, when Microsoft acquired Github, Nat Friedman, CEO at the time, reassured the GitHub community that Atom was alive and well.

"Atom is a fantastic editor with a healthy community, adoring fans, excellent design, and a promising foray into real-time collaboration," said Friedman in a Reddit ask-me-anything discussion. "At Microsoft, we already use every editor from Atom to VS Code to Sublime to Vim, and we want developers to use any editor they prefer with GitHub.

"So we will continue to develop and support both Atom and VS Code going forward."

After four years of going forward, Atom has come to a standstill. According to GitHub, the project hasn't had significant feature development for several years, apart from maintenance and security updates. During this period community involvement has declined and the business of locally installed software now looks less attractive than the potential recurring revenue, vendor lock-in, and information gathering enabled by cloud-based apps.

Atom dates back to 2011 at GitHub and by 2015 when the Atom shell a separate component for integrating with Chromium, Node.js, and native APIs was renamed Electron (a cross-platform app framework based on web tech), Microsoft began working with GitHub on Atom and Electron and what would become Visual Studio Code.

That relationship has now followed a paradigm Microsoft made famous: embrace, extend, extinguish, though the sunsetting of Atom looks more like pushing dead weight out of a cloud-bound balloon rather than a strategically advantageous hit.

"We want to invest in our core bets over the coming years, and that means focusing on enhancing the developer experience in the cloud," a GitHub spokesperson told The Register in an email. "There are also many strong alternatives to Atom that meet various needs, and VS Code has gained an enormous amount of market share such that were confident in this change.

"This should have little impact on GitHubs developer ecosystem. GitHubs APIs continue to be supported and enable developers to integrate with GitHub across thousands of other products. We also maintain our own suite of apps, including GitHub Desktop, GitHub Mobile, and GitHub CLI."

Atom's influence should continue to be felt via the Electron framework. Electron.js still serves as the basis for Discord, Skype, Slack, Trello, and Visual Studio Code, among other apps. But technology changes. Microsoft previously said it intends to move away from Electron in Teams. And other cross platform frameworks like Flutter, Tauri, or Microsoft's recently announced .NET Multi-platform App UI (.NET MAUI) may gain traction.

Still, Atom looks likely linger beyond its December 15, 2022 decommission date. Though GitHub intends to archive the Atom repository, the code is open source and remains available to anyone who wants to champion the project.

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The Top 11 IDEs for Embedded Applications – Electronic Design

What youll learn:

An integrated development environment (IDE) is a software application that provides a set of tools for software development and coding programming languages, all in a single graphical user interface (GUI). IDEs typically pack a source-code editor that assists in programming with features such as syntax highlighting (complete with visual cues), language-specific auto-completion (automate simple, repeatable tasks), and a debugger for testing code and routing-out bugs.

In essence, IDEs enable programmers to maximize productivity without the need for multiple utilities that have to be configured and implemented for each application. Because utilities are housed under a single GUI, developers can execute actions without switching between applications. This is especially helpful for embedded development applications within IoT ecosystems that dont require reconfiguration to suit multiple devices or projects.

Other standard IDE features are designed to help developers manage workflows and efficient problem-solving. IDEs parse code as its written so that bugs can be identified in real-time. Some IDEs may even include class and object browsers and hierarchy diagrams for specific languages.

While some software engineers and coders prefer to create their own IDEs, integrating only the tools needed for specific projects, others rely on preconfigured applications that can be applied to a wide variety of platforms.

This gallery highlights some of the widely used IDEs that provide a basic set of tools and additional features for streamlining the coding process. Many of these IDEs are open source and freely available; others have paid versions or paid enhancements.

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The Top 11 IDEs for Embedded Applications - Electronic Design

Apple’s big annual conference kicks off next week: Here’s what to expect – CNBC

Apple CEO Tim Cook will present the latest versions of Apple's software for iPhones, iPads, Mac, Watch, and TV on Monday to kick off WWDC, Apple's annual developer conference.

The new "bits," as attendees often call the updates, are the biggest Apple software announcement of the year and set the public strategy for Apple's platform over the next 12 months. For example, iOS 16, as Apple is expected to call the new software for iPhones and iPads, could include improved notifications, a redesigned lock screen, and updates to the Messages and Health apps, according to a report from Bloomberg News.

But Apple's long-reported mixed-reality headset is unlikely to make a debut next week.

WWDC, which stands for Worldwide Developers Conference, and is nicknamed "Dub Dub," is strategically important for Apple even if the company doesn't announce any new hardware.

Apple's financial performance depends on the support from third-party software developers like those that attend WWDC. Without a robust selection of updated, quality applications, the value of Apple's platforms for consumers and users would likely decline, which would eventually hurt sales. Apple also generates as much as $20 billion per year from software sales on its App Store.

Software for Apple platforms, like iOS apps, usually use different tools or programming frameworks than other big platforms such as Microsoft's Windows, Google's Android, or the web. Apple gets programmers excited about these technologies through a hype-filled keynote to kick off the conference, a more technically oriented presentation called "Platforms State of the Union" later that day, and then a week of class-like sessions and one-on-one meetings where developers can get feedback and guidance from Apple engineers.

The biggest difference this year for WWDC is that it will include an in-person component after two years of being entirely virtual. The change is subtle the keynote presentation with new product announcements will still be pre-recorded, and developers around the world can still virtually attend the conference's sessions.

But this year, Apple has invited a few hundred software developers, members of the press, and students to its headquarters in Cupertino, California, to watch the video presentation, get tours of the campus, and speak in-person with some of the people who built the software. It's nothing like the 6,000 attendees that travelled to San Jose for WWDC before the pandemic, but it's another sign things are returning to normal after two years of virtual product announcements. Apple employees were required to begin to return to the office this spring after nearly two years of working mainly from home during the Covid pandemic.

Holding WWDC in-person this month sets the stage for a fall launch where Apple will show new phones, and maybe even a high-end mixed-reality headset, in front of a live crowd to get immediate hands-on feedback from the press and partners. Just like the old days.

Apple sometimes reveals new hardware at WWDC, but the products are usually pricey, high-powered and aimed at programmers usually Macs, which are required to build apps for the iPhone.

The last time Apple announced hardware products at WWDC was in 2019 when it released the $6,000 Mac Pro and a $5,000 monitor. Before that, it announced updates to Mac desktops and laptops in 2017.

Apple could reveal the successor to the M1 processor at WWDC. It teased at a product release event earlier that a high-end model called the Mac Pro with an Apple-designed chip was forthcoming. The "M2," as it could be called, would be the next-generation Mac processor and could come in a redesigned MacBook Air, according to Bloomberg.

At the very least, discussing the advances in Apple's processors would be a good fit for the developer-centric conference. Apple originally announced its switch to its own processors at WWDC in 2020.

Apple's next big product category, augmented or mixed reality hardware, is unlikely to make an appearance.

Apple might talk about new apps and software that lay the groundwork for a mixed reality headset or pair of augmented reality glasses, and it often announces updates to its augmented reality development software, ARKit, at WWDC. (Augmented reality displays computer-generated images on top of transparent lenses that let users view the real world, while mixed reality is a fully immersive experience like virtual reality, but with external cameras showing images of the real world outside.)

But new product categories usually get their own launch events rather than being shoehorned into WWDC, and the headset reportedly hasn't entered into mass production yet.

Major software updates are a better bet. In previous years, Apple has announced the new version of its iOS software at WWDC in June, released a public beta version for early adopters and testers later in the month, and then released the final version of the software alongside new iPhones in September.

While the iPhone has the most users and the most important App Store, the updates for Apple's other software platforms, including iPad, Watch, and TV, often get just as much attention at WWDC.

iPads in particular could receive some big changes. iPadOS 16 could reportedly include the ability to resize windows in a move that would make the device more attractive for power-users who like to multitask. Currently users can run two apps side-by-side, but the ability to customize floating windows would make it more like MacOS.

Apple's TV set-top box, Apple TV, could get an update that would make it more useful as the heart of a smart home, according to Bloomberg. The Apple Watch got new hardware last year with a physically larger screen, and its software is due for an update that includes new watch faces to take advantage of the larger screen.

One Apple product that will get a lot of attention next week is Swift, the company's open-source programming language that was introduced in 2014. Invites sent to developers and media included a graphic with a large Swift logo, and one of the taglines for the conference is "Swiftly Approaching."

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Apple's big annual conference kicks off next week: Here's what to expect - CNBC