Category Archives: Bitcoin

This Could Be MassiveElon Musk Sparks Sudden $1 Trillion Bitcoin And Crypto Price Surge As Ethereum And Dogecoin Rocket  Forbes

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This Could Be MassiveElon Musk Sparks Sudden $1 Trillion Bitcoin And Crypto Price Surge As Ethereum And Dogecoin Rocket - Forbes

1. Bitcoin Is Under Pressure at $19,000. There Is Reason to Trust in a Bounce Back.  Barron's
2. Bitcoin's volatility falls below Nasdaq and S&P 500's for first time since 2020  CNBC
3. Bitcoin price hits 1-week lows as Fed rate hike rumors unsettle market  Cointelegraph
4. Bitcoin Flat as Volatility Hits 2-Year Low and Stocks Rise  CoinDesk
5. Bitcoin Price Still Consolidates, What Could Trigger A Nasty Drop  NewsBTC
6. View Full Coverage on Google News

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Bitcoin Is Under Pressure at $19,000. There Is Reason to Trust in a Bounce Back. - Barron's

From Bitcoin to Cardano & Big Eyes- Evolution of Crypto & what lies ahead | Mint  Mint

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From Bitcoin to Cardano & Big Eyes- Evolution of Crypto & what lies ahead | Mint - Mint

This week, Bitcoins (BTC) price took a tumble as a hotter-than-expected consumer price index (CPI) report showed high inflation remains a persistent challenge despite a wave of interest rate hikes from the United States Federal Reserve. Interestingly, the markets negative reaction to a high CPI print seemed priced in by investors, and BTCs and Ethers (ETH) prices reclaimed all of their intraday losses to close the day in the black.

A quick look at Bitcoins market structure shows that even with the post-CPI print drop, the price continues to trade in the same price range it has been in for the past 122 days. Adding to this dynamic, Cointelegraph market analyst Ray Salmond reported on a unique situation where Bitcoins futures open interest is at a record high, while its volatility is also near record lows.

These factors, along with other indicators, have historically preceded explosive price movements, but history will also show that predicting the direction of these moves is nearly impossible.

So, aside from multiple metrics hinting that a decisive price move is brewing, Bitcoin is still doing more of the same thing its done for the past 4.5 months. With that being the case, it is perhaps time to start looking elsewhere for emerging trends and possible opportunities.

Here are a few data points that Ive continued to be intrigued by.

ETHs price has lost its luster in the now post-Merge era, and the asset now reflects the bearish trend that dominates the rest of the market. Since the Merge, ETHs price is down 30% from its $2,000 high, and its likely that a good deal of the speculative capital that backed the bullish Merge narrative is now in stablecoins looking for the next investment opportunity.

Aside from ETH being an asymmetrical performer in the last four months, Cosmos (ATOM) also defied the market downtrend by posting a monster rally from $5.40 to $16.85. As covered thoroughly by Cointelegraph, oversold conditions, along with the hype of Cosmos 2.0, backed the bullish price action seen in the altcoin, but this chart continues to capture my imagination.

According to the revised Cosmos white paper, the current supply of ATOM will dynamically adjust based on the supply and demand of its staking. As shown in the chart above, when Cosmos 2.0 kicks in for the first 10 months, issuance of new ATOM tokens is high, but after the 36th month, the asset becomes deflationary.

From the vantage point of technical analysis, ATOMs price appears to have hit a local top as the months leading up to Cosmos 2.0 were a buy the rumor, sell the news type of event, but it will be interesting to see what transpires with ATOMs price as the market approaches month 20 in the diagram above.

Related: Price analysis 10/14: SPX, DXY, BTC, ETH, BNB, XRP, ADA, SOL, DOGE, MATIC

Since the Ethereum Merge, Ether emissions have dropped by 97%, and while the price has pulled back significantly, over the coming months, investors might keep an eye on Ethereum network activity, developments with ETH staking across decentralized finance (DeFi) and institutional products, along with any spikes in gas (connected to network activity).

While the price could succumb to bearish pressure in the short term, if the market begins to turn around if new trends trigger increased use of DeFi products, its possible that ETHs price could react positively to those developments.

While new trends across various altcoins may emerge, its important to remember the wider context in which crypto assets exist. Global economies are on the rocks, and persistently high inflation remains an issue in the United States and many other countries. Bond prices are whipsawing, and a looming debt crisis makes its presence known on a daily basis. Risk-on assets like cryptocurrencies are incredibly volatile, and even the strongest price trends in crypto (whether backed by fundamentals or not) are subject to the whimsy of macro factors such as equities markets, geopolitics and other market events that impact investors sentiment.

Keeping this in mind, Bitcoin remains the largest asset by market capitalization within the crypto sector, and any sharp moves from BTCs price are bound to support or suppress the micro trends that might be gaining traction in the market. There is still the possibility of a sharp downside in Bitcoins price, so traders are encouraged to calculate investment size according to their own appetite for risk, and while multiple metrics might support opening long positions in various crypto assets, it still seems too early to fully ape in.

This newsletter was written by Big Smokey, the author of The Humble Pontificator Substack and resident newsletter author at Cointelegraph. Each Friday, Big Smokey will write market insights, trending how-tos, analyses and early-bird research on potential emerging trends within the crypto market.

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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3 emerging crypto trends to keep an eye on while Bitcoin price consolidates - Cointelegraph

Photo illustration of Bitfinex cryptocurrency exchange website.

Dado Ruvic | Illustration | Reuters

Cryptocurrencies were little changed on Friday as investors sought to extend the previous day's rally.

Bitcoin was lower by 1% at $19,175.00, and ether gained 1% to trade at $1,299.66. Both assets ended their fourth down weeks in the last five.

Crypto jumped Thursday, following the movement of stocks after the consumer price index came out showing higher-than-expected inflation. That reading initially sent risk assets down sharply before they reversed and soared, with the Dow Jones Industrial Average staging a historic 1,500-point rally.

"Yesterday we saw a knee jerk reaction lower in all markets which was algo-driven, then short-covering and real buying stepped in, which was the right response to the CPI data," said Jeff Dorman, chief investment officer at Arca. "Markets aren't concerned with inflation, they are concerned with the Fed's expected response to inflation, and nothing changed yesterday: 75 basis points was baked in, it was confirmed further by the CPI data."

October tends to be an up month for bitcoin, according to Bespoke Investment Group. Bitcoin's never been in a bear market like this one, however, and some remain cautious.

The cryptocurrency's third-quarter return of 6% and ether's 25% return outperformed other asset classes, and both have held up fairly well, trading within the $19,000 level for much of the past month, due to the uncertain macro environment. However, "the subdued volatility relative to other assets on continued declining volumes has the potential to lead to downside," Compass analyst Chase White said in a note Friday.

It had been a tough week for markets before the CPI data was released. YuyaHasegawa, crypto market analyst at Japanese crypto exchange Bitbank, said the rebound could trigger an unwinding of recent risk-off sentiment in stocks.

That "could have a positive effect on the price of bitcoin," he said. "If the price recovers the $20,000 psychological level with substantial trading volume in the next few days, bitcoin could test $23,000 next week."

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Bitcoin reverses lower after Thursday's big rally but remains in the $19,000 level - CNBC

Bearish sentiment returned to cryptocurrency markets on Saturday, as bitcoin was once again in the red. The worlds largest token moved lower to start the weekend, following yesterdays surge towards $20,000. Ethereum was also down today, falling below $1,300 in the process.

Bitcoin (BTC) was in the red to start the weekend, as bearish sentiment returned to cryptocurrency markets.

BTC was higher on Friday, as market uncertainty eased, following the latest U.S. inflation report, however it seems as though this turbulence has returned this weekend.

As a result, BTC/USD fell to an intraday low of $19,076.63 earlier in the day, less than a 24 hours after hitting a peak of $19,821.40.

Looking at the chart, the drop in price has pushed the 10-day (red) moving average (MA) close to an imminent downward crossover with its 25-day (blue) counterpart.

In addition to this, the 14-day relative strength index (RSI) is now back below the 50.00 mark, after failing to move past its ceiling of 55.00.

Should this momentum continue to decline, we could see prices heading towards a floor of $18,600.

Like bitcoin, ethereum (ETH) was also trading lower to start the weekend, with prices of the token falling below $1,300.

Following a move above its $1,330 ceiling on Friday, ETH/USD moved to a low of $1,280.18 earlier in todays session.

The drop sees the worlds second largest cryptocurrency hovering slightly above its floor of $1,275, which was last broken on Thursday.

On that day, the token dropped to a bottom of $1,190, however following the release of the U.S. inflation report, prices somewhat rebounded.

However, this rebound has been short lived, with the RSI also falling back towards a floor of 38.00.

Should price strength decline beyond this point, we could potentially see ethereum once again fall below $1,200.

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What do you believe has led to bears reentering the market this weekend? Leave your thoughts in the comments below.

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

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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Bitcoin, Ethereum Technical Analysis: BTC, ETH Lower on Saturday, as Bears Reenter the Market Market Updates Bitcoin News - Bitcoin News

Miller will retire at the end of 2022.

Legendary value investor Bill Miller sees fresh opportunities in the stock market amid the brutal selloff this year, urging investors to take advantage of shares that are trading at discounted prices while also remaining bullish about Bitcoin BTC , calling cryptocurrencies misunderstood.

Speaking at the Forbes/SHOOK Top Advisor Summit at the Encore At Wynn hotel in Las Vegas on Thursday, the former Legg Mason LM chairman and chief investment officer talked up his signature bets on Bitcoin and Amazon AMZN , while also identifying several companies that he thinks will benefit from an eventual market rebound.

While at the Baltimore investing giant, Miller gained prominence by outperforming the S&P 500 annually from 1991 to 2005. He eventually went out on his own, serving as chairman and chief investment officer of Miller Value Partners, which had $1.9 billion in assets under management at the end of August 2022. In January, Miller announced that he would retire at the end of the year, outlining succession plans for his two main funds, transferring management to his son, Bill Miller IV, and longtime protg Samantha McLemore.

Speaking with Morgan Stanley Private Wealth Management managing director Marvin McIntyre at the Forbes/SHOOK Top Advisor Summit, the 72-year-old Miller reflected on the stock market, cryptocurrencies and the Federal Reserve.

Stocks that worked in the last bull market for the last ten years or so through last November are now getting crushed, he explained, adding, Rising rates have caused growth compression. His advice to investors? Buy shares of companies trading at cheap, discounted prices.

Miller famously bought Amazon, his favorite stock, at the companys IPO in 1997. Hes been a longtime believer in the companys booming e-commerce business and steadily ramped up his holdings over the past couple of decades.

The famed value investor remains undeterred by the recent stock selloff for that reason: If your time horizon is longer than one year, you should do very well in the market, Miller said, pointing out that prices have now come down significantly.

In terms of stock picks, he identifies companies that have strong, free cash-flow trends but are trading at discounted share values. Those include some of this years worst performers: Norwegian Cruise Line Holdings NCLH (down 41% this year), ride-sharing service Uber UBER (down 43%) and luxury fashion e-commerce platform Farfetch FTCH (down 76%).

The famed value investor thinks stocks have come down to attractive valuations after a selloff so far this year.

Miller also likes Delta Air Lines, pointing out that the company stood out amongst airlines because it didnt dilute shares with new equity during the pandemic, which has paid off with improving free cash-flow trends, he said. One of his more under-the-radar picks is Clear Secure, a profitable tech company with a subscription-based business that specializes in document verification in U.S. airports. Miller predicted the market capitalization could balloon from over $3 billion to $30 billion in ten years as the company signs more big deals with major stadiums.

Other notable picks from the famed investor included Silvergate Capital, a Fed-regulated bank with a crypto exchange, and Chesapeake Energy CHK , based on Millers view that shares of oil companies are still mispriced and going through a long reset period.

He also chided the Federal Reserve for talking a tough game [on inflation] but being psychologically behind the curve. The central bank is reacting to [economic] data too much rather than focusing more on real-time or forward-looking indicators, Miller said, adding that these signs suggest they might go too far with raising interest rates.

An early advocate and buyer of Bitcoin, Miller also reiterated his bullish outlook on the cryptocurrency, calling it misunderstood. Though prices can be volatile, Bitcoin can provide investors with an insurance policy against financial disaster, he argued. If the Federal Reserve tightens monetary policy too far, Bitcoin prices will probably fare better than most of the market, Miller predicted. Whats more, because it is not connected to the rest of the financial system, there is limited fallout during tumultuous market periods.

Though many investors can fret over the current uncertainty in markets, Miller quoted the advice of Warren Buffett, John Templeton and Leo Tolstoy for guidance, respectively. Be greedy when others are fearful; The time of maximum pessimism is the best time to buy; and The two most powerful warriors are patience and time.

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Legendary Value Investor Bill Miller Says Buy Bitcoin And Eight Other Stock Bargains - Forbes

Bitcoins [BTC] almost 5% recovery on 14 October might not be the icing on the cake needed for a bullish revival. According to BaroVirtual, a CryptoQuant analyst, such events occurring in a full-blown bear market indicateda catastrophic outcome.

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Heres AMBCryptosPrice Prediction for Bitcoinfor 2022-2023

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In his latest analysis, BaroVirtual pointed out that the BTC close/low ratio signaled that the rebound would eventually result in a price correction.

Interestingly, the analysts projection seemed quick to come to life. This was because it did not take long before Bitcoin succumbed to the bidding of bears. At the time of this writing, BTC was trading at $19,177 a 2.74% decrease in the last 24 hours. However, it did not look like the decline would end at 2% to 3%.

Based on the four-hour chart, BTC sellers had more edge over the strength of the buyers. The Directional Movement Index (DMI) showed that the positive part (green), which reflected the buyer edge was 16.77.

In contrast, the negative DMI (red) favored the sellers above the positive at 27.54. While bulls may have hoped that the directional strength was not strong enough, the Average Directional Index (ADX) proved otherwise. With the ADX (yellow) at 32.23, it was almost inevitable that BTCs bearish momentum might last for a while before any bullish signs revealed themselves.

Hence, thedefending zonefrom which BTC bulls may have expected a run might not be in the short term.

More so, BTC traders also seemed to have reduced centralized trading activities recently. According to on-chain data intelligence platform, Glassnode, the number of exchange deposits had reached new lows, with the latest a 1.836.483 within two years.

Because of this, it was less likely that investors would have taken profits. For others, it could mean it was time to evaluate their BTC portfolio.

Per on-chain metrics, BTC traders were not following the reduced exchange activities as Glassnoderevealedthat futures open interest was in excellent momentum. As of 14 October, BTC futures open interest across all exchanges was about $12.15 billion.

The current level was similar to what it has been since 15 September. The implication was that traders were looking to profit from the futures market since the BTC spot was less likely to produce significant gains.

Furthermore, the exchange inflow and outflow indications showed no clear sign that bulls wouldrejoicethis October. According toSantiment, the exchange inflow and outflow was a close call at 5189 and 6579, respectively.

So, while there has been some selling pressure, there has also been a buying momentum to match. Hence, it was unclear who would win the Bitcoin momentum battle.

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Bitcoins latest prediction-turned-reality can be an investors nightmare because - AMBCrypto News

This is an opinion editorial by Robert Hall, a content creator and small business owner.

What is the most likely path to hyperbitcoinization? This is a question that has come up in my mind time and time again. Will it be a top-down implementation like we saw in El Salvador last year? Regarding world leaders, Nayib Bukele is the rare exception to the rule. Most world leaders think within a predefined box of fiat options.

Will adoption look more people-powered like in Nigeria, where Bitcoin was integral to funding the youth-led protest against the Special Anti-Robbery Squad (SARS) in October 2020, after protesters' bank accounts were frozen?

Bitcoin adoption in Nigeria has continued to grow despite their central bank banning legacy financial institutions in Nigeria from interacting with Bitcoin at all. Bitcoin P2P trading in Nigeria is up 27 percent despite the ban.

Bitcoin adoption in Nigeria and El Salvador are two examples of opposite sides of the adoption spectrum. Both are working despite legal hurdles and educating more people about Bitcoin.

What will widespread adoption look like in developed countries such as the United States, Europe and developed countries? The dynamics in the West differ significantly from that of developing countries. Western countries have the rule of law, regulated markets, a population that has access to bank accounts and a currency that doesn't debase as rapidly as other currencies.

Bitcoin adoption in the West is going to take a fundamentally different path than the path other parts of the world are going to take. This should be acknowledged and inform how Bitcoiners talk about adoption in the western world.

If you live in the West, you live in an economic and political panopticon. Your government knows who you are, where you live and how much money you earn. They also can gather your phone records, transaction history and online activity with impunity via third-party providers.

If you have money in a bank account, Western governments can call your bank, tell them you are a terrorist, and seize your bank account. Don't think it can happen to you? It happened in Canada to regular everyday citizens protesting against government policies they disagreed with and were agitating for change. The Canadian truckers were not violent thugs with weapons; they used well-established protest tactics to have their voices heard.

What did the Canadian government do in response? They Froze their assets and used violence against them.

Think this is an isolated incident? Authorities in the Netherlands opened fire on a farmer protesting against government plans that would have them cut nitrogen oxide and ammonia emissions by 70 percent in seven years. The state could give two sh*ts about your life if it gets in the way of their plan, plain and simple. You know it, and I know it. There is no need to sugarcoat anything here.

The idea that we are free is folly. Bitcoin is our best hope to change our current circumstances, but it starts with people purchasing and owning Bitcoin.

For a large majority of people new to Bitcoin, their first interaction with bitcoin will be through exchanges such as Coinbase, Kraken, Binance and OkCoin. Not ideal, but these are the facts.

When someone new to Bitcoin searches "how to buy bitcoin," the first page results will show you where you can buy bitcoin from exchanges.

Source: Google

According to a recent article, 46.5 million Americans have never owned cryptocurrency and plan on buying it next year. 32 percent believe that cryptocurrency will replace fiat currency over time. Presumably, a large portion of these new buyers will be looking at buying bitcoin. They will be buying their bitcoin on exchanges.

These entities comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations set forth by their jurisdictions.

The people new to Bitcoin will have no problem handing over their personal information to these companies because they see it as normal and is something they have done their whole lives. This is a fact of life that isn't going away anytime soon.

This is an unpopular opinion, but I will say it anyway. Mass adoption of Bitcoin in the Western world will be with KYC'd Bitcoin. I wish it weren't the case, but I don't see how it won't be. There is even an implicit realization of this fact on Bitcoin Twitter.

The new people coming into Bitcoin won't be your anarcho-capitalist types that want nothing to do with the state. The next wave of people coming into the space will be the mom-and-pop shop owners down the street, your truck driver, mailman or a teacher looking to save their hard-earned money in money that the government can't debase.

Many people see the government and the laws and regulations they promulgate as a form of safety. They might see KYC as a good thing. Currently, KYC is a fact of life, and this creates honeypots of information for hackers to target. We've dealt with this problem in the fiat world; we'll also have to deal with it on a bitcoin standard. I didn't make rules; I'm just looking at the facts as they are now. That doesn't mean any of this can't change.

Still, I believe advising newcomers about different privacy methods is the way to go. There are many great articles here on how to make your Bitcoin more private.

How CoinJoin, CoinSwap Enable Basic Bitcoin Privacy

A Comprehensive Bitcoin CoinJoin Guide

Track Me If You Can How Bitcoin Forward-Looking Anonymity Sets Work

How To Whirlpool On Desktop With RoninDojo

How To Maintain Privacy When Spending Mixed Bitcoin

Federated Chaumian Mints: The Future Of Bitcoin Privacy?

In addition to teaching newcomers about privacy methods, we should all work on creating a bitcoin-powered parallel economy where we don't need fiat offramps. This is the ultimate goal.

El Zonte in El Salvador and other communities have shown us how we can follow in their footsteps.

On The Coast Of El Salvador, Bitcoin Is Becoming The Standard

Bitcoin Ekasi: The Township One Year Later

Bitcoin Beach Brazil: Inspired By El Salvador

Bitcoin Valley Hub Launches In Honduras

The future of bitcoin is bright if we can get enough people on the bitcoin lifeboat. We shouldn't quarrel about what path they took to get there, but educate them on the most private ways to do so.

Stay focused on the mission. Educate others. Stack sats.

This is a guest post by Robert Hall. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.

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Unless Something Changes, Bitcoin Adoption In The West Will Be KYCd - Bitcoin Magazine

Quant rose to its highest point since the start of the year on Saturday, as prices climbed for a third straight session. In addition to this, tron was also higher, as the token attempted to break out of a key resistance point. Overall, cryptocurrency markets were down 1.95% as of writing.

Quant (QNT) was one of the notable movers to start the weekend, as the token surged to a ten-month high.

Following a low of $162.00 on Friday, QNT/USD surged to an intraday peak of $184.98 earlier in todays session.

This move saw the token climb to its highest point since January 8, and comes following three days of gains.

As of writing, the 14-day relative strength index (RSI) is now deep in overbought territory, and is tracking at 80.19.

This is marginally above a ceiling of 79.00, and this could mean that bears could be looming, looking for any slips, before reentering.

Should bullish momentum remain high, we could see traders target an exit around the $190 level.

Tron (TRX) was another big gainer to start the weekend, as prices attempted to break out of a key resistance level.

TRX/USD raced to a peak of $0.06501 earlier in todays session, which comes less than a day after hitting a low of $0.06174.

As mentioned earlier, the move saw tron collide with a ceiling of $0.0650, which hasnt been broken since late-August.

Since hitting this peak, TRX has since slipped, and as of writing, is trading at $0.06264.

The 14-day RSI is now back below a ceiling of 57.00, and is tracking at a mark of 53.92, and seems to be headed to a support point of 50.50.

Should this target be reached, it is likely that prices of tron will be trading close to $0.06100.

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Do you expect any further rallies from tron this weekend? Let us know your thoughts in the comments.

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

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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Biggest Movers: QNT Hits 10-Month High on Saturday Market Updates Bitcoin News - Bitcoin News