Bitcoin targets $36K key Wyckoff level, with altcoins set to ‘grind up heavier’
Bitcoin (BTC) headed toward a key Wyckoff level on Tuesday as BTC price action got traders excited about an altcoin surge.
After seeing tests of $33,000 support, bulls won out overnight, sending Bitcoin higher. Now, a key area to watch is $36,000, popular analyst Rekt Capital said.
According to Wyckoff analysis, a popular method for charting BTC price action, $36,000 marks the likely end of a “phase C” and the beginning of a “phase D” for BTC/USD — with trajectory favoring the upside.
“BTC dips to the ~$33000 area and holds the orange Higher Low perfectly,” Rekt Capital commented alongside a chart on the day.
“According to the Wyckoff Accumulation Schematic, $BTC is now in the very final stages of Phase C. $BTC needs to break past $36000 to enter Phase D.”
Bitcoin (BTC) headed toward a key Wyckoff level on Tuesday as BTC price action got traders excited about an altcoin surge.
After seeing tests of $33,000 support, bulls won out overnight, sending Bitcoin higher. Now, a key area to watch is $36,000, popular analyst Rekt Capital said.
According to Wyckoff analysis, a popular method for charting BTC price action, $36,000 marks the likely end of a “phase C” and the beginning of a “phase D” for BTC/USD — with trajectory favoring the upside.
“BTC dips to the ~$33000 area and holds the orange Higher Low perfectly,” Rekt Capital commented alongside a chart on the day.
“According to the Wyckoff Accumulation Schematic, $BTC is now in the very final stages of Phase C. $BTC needs to break past $36000 to enter Phase D.”
Bank of Russia to Test Digital Ruble in 2022
The Bank of Russia has announced its intentions to begin trials on a digital version of the country’s currency, Ruble. An original model of the test platform is to be completed on or before the end of the year and test processes should begin next year, 2022. Over 12 banks have signed up to participate in the testing of the digital currency so far.
The disclosure was made by the Russian Central Bank on Monday, 5th July, 2021. The bank announced they had launched the development of their Central Bank Digital Currency (CBDC); Ruble. Commercial banks can volunteer to test the digital currency but to be eligible, they must prove they have the technological capabilities to carry out the tests. About 12 banks have volunteered so far.
Russia’s largest bank, Sberbank, Alfabank, VTB, Gazprombank among others were part of the banks that volunteered for the trial.
Also, the original digital Ruble model platform was to be ready before the end of 2021 and trial was to begin early 2022 according to the announcement.
The first deputy governor of the Russian Central Bank, Olga Skorobogatova stated that the introduction of the CBDC is to see to improvements in payments and remittances and alleviate cost;
“digital ruble project is aimed to create new payment infrastructure to improve the availability of payments and transfers, and to reduce their cost for households and businesses.”
He further stated the importance of a “seamless migration” from the traditional Ruble currency to the digital ruble in works. The first stage of the testing will ensure and monitor the emission of the digital ruble. Other operations will be tested in the trial and if need be, other banks will be added.
The Bank of Russia has announced its intentions to begin trials on a digital version of the country’s currency, Ruble. An original model of the test platform is to be completed on or before the end of the year and test processes should begin next year, 2022. Over 12 banks have signed up to participate in the testing of the digital currency so far.
The disclosure was made by the Russian Central Bank on Monday, 5th July, 2021. The bank announced they had launched the development of their Central Bank Digital Currency (CBDC); Ruble. Commercial banks can volunteer to test the digital currency but to be eligible, they must prove they have the technological capabilities to carry out the tests. About 12 banks have volunteered so far.
Russia’s largest bank, Sberbank, Alfabank, VTB, Gazprombank among others were part of the banks that volunteered for the trial.
Also, the original digital Ruble model platform was to be ready before the end of 2021 and trial was to begin early 2022 according to the announcement.
The first deputy governor of the Russian Central Bank, Olga Skorobogatova stated that the introduction of the CBDC is to see to improvements in payments and remittances and alleviate cost;
“digital ruble project is aimed to create new payment infrastructure to improve the availability of payments and transfers, and to reduce their cost for households and businesses.”
He further stated the importance of a “seamless migration” from the traditional Ruble currency to the digital ruble in works. The first stage of the testing will ensure and monitor the emission of the digital ruble. Other operations will be tested in the trial and if need be, other banks will be added.
Visa and 50 Crypto Platforms to Enable Cryptocurrency Payments at 70 Million Merchants
Visa Inc. announced Wednesday that the transactions via crypto-linked Visa cards exceeded $1 billion in the first quarter. The company further said that it is partnering with 50 major cryptocurrency platforms “to launch card programs that make it easy to convert and spend digital currency at 70 million merchants worldwide.”
Visa Inc. announced Wednesday that the transactions via crypto-linked Visa cards exceeded $1 billion in the first quarter. The company further said that it is partnering with 50 major cryptocurrency platforms “to launch card programs that make it easy to convert and spend digital currency at 70 million merchants worldwide.”
Visa announced Wednesday that more than $1 billion worth of cryptocurrency was spent by consumers globally through crypto-linked Visa cards in the first six months of the year. The payments giant also said that it is partnering with 50 leading crypto platforms “to launch card programs that make it easy to convert and spend digital currency at 70 million merchants worldwide.”
Visa CFO Vasant Prabhu told CNBC: “We see a lot of volume on our [network] of people buying cryptocurrencies at these various regulated exchanges and as far as we can see that trend continues.” He added:
“We are doing a lot to create an ecosystem that makes cryptocurrency more usable and more like any other currency. People are exploring ways in which they can use cryptocurrencies for things they would use normal currencies for.”
Visa Inc. announced Wednesday that the transactions via crypto-linked Visa cards exceeded $1 billion in the first quarter. The company further said that it is partnering with 50 major cryptocurrency platforms “to launch card programs that make it easy to convert and spend digital currency at 70 million merchants worldwide.”
Visa Inc. announced Wednesday that the transactions via crypto-linked Visa cards exceeded $1 billion in the first quarter. The company further said that it is partnering with 50 major cryptocurrency platforms “to launch card programs that make it easy to convert and spend digital currency at 70 million merchants worldwide.”
Visa announced Wednesday that more than $1 billion worth of cryptocurrency was spent by consumers globally through crypto-linked Visa cards in the first six months of the year. The payments giant also said that it is partnering with 50 leading crypto platforms “to launch card programs that make it easy to convert and spend digital currency at 70 million merchants worldwide.”
Visa CFO Vasant Prabhu told CNBC: “We see a lot of volume on our [network] of people buying cryptocurrencies at these various regulated exchanges and as far as we can see that trend continues.” He added:
“We are doing a lot to create an ecosystem that makes cryptocurrency more usable and more like any other currency. People are exploring ways in which they can use cryptocurrencies for things they would use normal currencies for.”
Bank of Ghana Deputy Governor Says 'Central Bank Digital Currency Is Fiat Money,' Reveals Pilot Phase Will Start September
Ghana’s proposed central bank digital currency is similar to fiat cash and therefore financial institutions, as well as fintech start-ups, can still create value based on it, a Bank of Ghana (BOG) official has said. Still, the official, Maxwell Opoku-Afari, the BOG’s deputy governor, says approval for the use of the digital currency will depend on the outcome of the piloting phase.
Maintaining Ghana’s Lead
As previously reported, BOG announced it was in the advanced stages of introducing a digital currency. At the time, BOG governor, Ernest Addison said the central bank’s move to introduce the CBDC fits with its objective of maintaining the central bank’s position as Africa’s leader when it comes to embracing emerging financial technologies.
However, reports suggest the first deputy governor has now revealed that Ghana will start piloting the digital cedi in a sandbox environment in September 2021.
CBDCs and Value Additions
Meanwhile, in his comments after the start of a two-day journalist training event, Opoku-Afari suggested a digital cedi would enhance digital transactions in the country. According to one report, Opoku-Afari said:
“Digital currency is part of the central bank acknowledging the need for digital payment and digital delivery of financial services. By this, the Bank of Ghana will provide a platform on which we can add more value to digital transactions.”
The first deputy governor also explained that the BOG had taken its time to design a digital currency that comes with “all the security features.”
Ghana’s proposed central bank digital currency is similar to fiat cash and therefore financial institutions, as well as fintech start-ups, can still create value based on it, a Bank of Ghana (BOG) official has said. Still, the official, Maxwell Opoku-Afari, the BOG’s deputy governor, says approval for the use of the digital currency will depend on the outcome of the piloting phase.
Maintaining Ghana’s Lead
As previously reported, BOG announced it was in the advanced stages of introducing a digital currency. At the time, BOG governor, Ernest Addison said the central bank’s move to introduce the CBDC fits with its objective of maintaining the central bank’s position as Africa’s leader when it comes to embracing emerging financial technologies.
However, reports suggest the first deputy governor has now revealed that Ghana will start piloting the digital cedi in a sandbox environment in September 2021.
CBDCs and Value Additions
Meanwhile, in his comments after the start of a two-day journalist training event, Opoku-Afari suggested a digital cedi would enhance digital transactions in the country. According to one report, Opoku-Afari said:
“Digital currency is part of the central bank acknowledging the need for digital payment and digital delivery of financial services. By this, the Bank of Ghana will provide a platform on which we can add more value to digital transactions.”
The first deputy governor also explained that the BOG had taken its time to design a digital currency that comes with “all the security features.”
Bitcoin price will see breakout ‘during this week’ says trader with $38K target
Michaël van de Poppe believes that upside is in store for BTC/USD in the coming days despite nervousness about Grayscale.
Bitcoin (BTC) closed beneath a key moving average for the eighth week in a row this weekend, but one analyst is betting on an imminent breakout.
Bitcoin balances breakout with Grayscale worries
Data from Cointelegraph Markets Pro and TradingView tracked Bitcoin as it reversed weekend gains on Monday after a disappointing weekly close.
The largest cryptocurrency had maintained its familiar trading range with $33,000 as support through Saturday and Sunday, but the new week dampened momentum.
For popular trader and analyst Rekt Capital, unless progress can be made, Bitcoin bulls may not have long to last before fresh losses hit.
“The blue 50-week EMA is still holding as support,” he summarized in a series of tweets. “If this HL isn’t reclaimed as support soon, the sell-side pressure on the 50 WEMA may be too much for $BTC to hold here.”
Michaël van de Poppe believes that upside is in store for BTC/USD in the coming days despite nervousness about Grayscale.
Bitcoin (BTC) closed beneath a key moving average for the eighth week in a row this weekend, but one analyst is betting on an imminent breakout.
Bitcoin balances breakout with Grayscale worries
Data from Cointelegraph Markets Pro and TradingView tracked Bitcoin as it reversed weekend gains on Monday after a disappointing weekly close.
The largest cryptocurrency had maintained its familiar trading range with $33,000 as support through Saturday and Sunday, but the new week dampened momentum.
For popular trader and analyst Rekt Capital, unless progress can be made, Bitcoin bulls may not have long to last before fresh losses hit.
“The blue 50-week EMA is still holding as support,” he summarized in a series of tweets. “If this HL isn’t reclaimed as support soon, the sell-side pressure on the 50 WEMA may be too much for $BTC to hold here.”
Cristiano Ronaldo wins first blockchain trophy (NFT) in the European Cups’ History
International football star and Portuguese national Cristiano Ronaldo wins first European Cup’s blockchain trophy (NFT). Local Chinese media reports that the ‘scoring king’ of the European Cup is settled just after the end of the competition which saw Italy emerge as the champion.
Italy became the champion after winning England in a penalty shootout which ended in 3-2. The Portuguese player was ranked the top scorer with 5 personal goals and 1 assist. And thus, ‘has successfully worn the first blockchain scoring gold cup in the history of the European Cup’, the local media reports.
His achievements and honors in this European Cup will be recorded on the ant chain.
The UEFA and AntChain have joined to explore the application of blockchain and other technologies to accelerate the digital transformation of the football industry.
Aside Cristiano Ronaldo, the two other top goal scorers, Sigg from the Czech team and Benzema from the France team won Silver and Bronze respectively. Their trophies will become blockchain trophies according to UEFA and they will be supported by AntChain.
Just recently, it was announced by the CONMEBOL that the trophy of the 47th Copa America’s tournament will be turned into an NFT on the Ethernity Chain. Being one of the oldest football tournaments on the planet, Argentina emerged the winner after winning Brazil 1 -0.
And just like the UEFA and AntChain blockchain trophy for other players’ aside Cristiano Ronaldo, CONMEBOl also revealed that other digital collectibles are also being minted and they are for commemorating teams in the finals as well as the Argentina captain Lionel Messi.
International football star and Portuguese national Cristiano Ronaldo wins first European Cup’s blockchain trophy (NFT). Local Chinese media reports that the ‘scoring king’ of the European Cup is settled just after the end of the competition which saw Italy emerge as the champion.
Italy became the champion after winning England in a penalty shootout which ended in 3-2. The Portuguese player was ranked the top scorer with 5 personal goals and 1 assist. And thus, ‘has successfully worn the first blockchain scoring gold cup in the history of the European Cup’, the local media reports.
His achievements and honors in this European Cup will be recorded on the ant chain.
The UEFA and AntChain have joined to explore the application of blockchain and other technologies to accelerate the digital transformation of the football industry.
Aside Cristiano Ronaldo, the two other top goal scorers, Sigg from the Czech team and Benzema from the France team won Silver and Bronze respectively. Their trophies will become blockchain trophies according to UEFA and they will be supported by AntChain.
Just recently, it was announced by the CONMEBOL that the trophy of the 47th Copa America’s tournament will be turned into an NFT on the Ethernity Chain. Being one of the oldest football tournaments on the planet, Argentina emerged the winner after winning Brazil 1 -0.
And just like the UEFA and AntChain blockchain trophy for other players’ aside Cristiano Ronaldo, CONMEBOl also revealed that other digital collectibles are also being minted and they are for commemorating teams in the finals as well as the Argentina captain Lionel Messi.
UAE Central Bank Unveils Plan to Launch Digital Currency
The Central Bank of the United Arab Emirates has unveiled its plan to launch a digital currency as part of its 2023-2026 strategy to become one of the world’s top 10 central banks.
A growing number of central banks worldwide are working to launch central bank digital currencies (CBDCs). The Central Bank of the United Arab Emirates (CBUAE) revealed Monday its plan to issue a state-backed digital currency within the next five years.
The announcement was part of the central bank’s “2023-2026 strategy” to “position it among the world’s top 10 central banks.”
There are seven objectives in total, according to Gulf News. Among them was “issuing a digital currency and driving digital transformation in the UAE’s financial services sector, by utilizing the latest artificial intelligence and big data solutions.”
The UAE’s Securities and Commodities Authority (SCA) published its decision on cryptocurrency regulation on Nov. 1, 2020, after consulting with the crypto industry and the public. The document describes the SCA’s licensing regime for anyone wanting to offer crypto-related services within the UAE. It covers initial coin offerings (ICOs), exchanges, marketplaces, crowdfunding platforms, and custodian services.
Chainalysis’ Global Crypto Adoption Index published last September ranked the UAE fifth in the Middle East.
The Central Bank of the United Arab Emirates has unveiled its plan to launch a digital currency as part of its 2023-2026 strategy to become one of the world’s top 10 central banks.
A growing number of central banks worldwide are working to launch central bank digital currencies (CBDCs). The Central Bank of the United Arab Emirates (CBUAE) revealed Monday its plan to issue a state-backed digital currency within the next five years.
The announcement was part of the central bank’s “2023-2026 strategy” to “position it among the world’s top 10 central banks.”
There are seven objectives in total, according to Gulf News. Among them was “issuing a digital currency and driving digital transformation in the UAE’s financial services sector, by utilizing the latest artificial intelligence and big data solutions.”
The UAE’s Securities and Commodities Authority (SCA) published its decision on cryptocurrency regulation on Nov. 1, 2020, after consulting with the crypto industry and the public. The document describes the SCA’s licensing regime for anyone wanting to offer crypto-related services within the UAE. It covers initial coin offerings (ICOs), exchanges, marketplaces, crowdfunding platforms, and custodian services.
Chainalysis’ Global Crypto Adoption Index published last September ranked the UAE fifth in the Middle East.
Australian Government Awards $5.6M in Grants to Blockchain Companies
The Australian government has awarded a grant of 5.6 million dollars to blockchain-based companies in the country in a Blockchain Pilot Grant.
The companies which received the grant were Everledger and Convergence tech and according to the Australian’s Minister for Industry, Science and Technology, Hon. Christian Porter, he “said the projects would help to accelerate the country’s adoption of blockchain technology and assist businesses to solve real-world problems.”
Blockchain technology has been advertised to be the solution to a wide range of problems but globally, projects offering real world uses for the technology are not significantly more though it is established the technology is still at its infant stage.
Ever-ledger from the $5.6 million received $3million while Convergence.tech got $2.6 million. The grant was part of the Federal Budget for the 2020/2021 session. The Minister speaking on the Blockchain Pilot Grant; He said it ‘will demonstrate the potential for blockchain to help businesses to save money and cut red tape by improving processes such as tracking products through the supply chain and transferring customer information.’
He added that the “two successful projects will also highlight opportunities to improve the technical and regulatory environment for blockchain in Australia, bolster blockchain literacy and support collaboration between (the) Australian governments, the private sector, and blockchain companies.”
It was revealed Convergence.tech will utilise the grant fund to help automate commodity-based-tax processes while Ever-ledger will utilise its funds to investigate the use of blockchain in digital certification.
The Australian government has awarded a grant of 5.6 million dollars to blockchain-based companies in the country in a Blockchain Pilot Grant.
The companies which received the grant were Everledger and Convergence tech and according to the Australian’s Minister for Industry, Science and Technology, Hon. Christian Porter, he “said the projects would help to accelerate the country’s adoption of blockchain technology and assist businesses to solve real-world problems.”
Blockchain technology has been advertised to be the solution to a wide range of problems but globally, projects offering real world uses for the technology are not significantly more though it is established the technology is still at its infant stage.
Ever-ledger from the $5.6 million received $3million while Convergence.tech got $2.6 million. The grant was part of the Federal Budget for the 2020/2021 session. The Minister speaking on the Blockchain Pilot Grant; He said it ‘will demonstrate the potential for blockchain to help businesses to save money and cut red tape by improving processes such as tracking products through the supply chain and transferring customer information.’
He added that the “two successful projects will also highlight opportunities to improve the technical and regulatory environment for blockchain in Australia, bolster blockchain literacy and support collaboration between (the) Australian governments, the private sector, and blockchain companies.”
It was revealed Convergence.tech will utilise the grant fund to help automate commodity-based-tax processes while Ever-ledger will utilise its funds to investigate the use of blockchain in digital certification.
Crypto Experts Predict Bitcoin Price Rising to $318,417 by December 2025
A panel of crypto experts has predicted that the price of bitcoin will rise to $318,417 by December 2025. The most bullish expert believes that the price of the cryptocurrency will reach $160,000 by the end of the year. Meanwhile, 54% of them think that hyperbitcoinization will happen by 2050.
Finder, a major product comparison website, has conducted a study to find out the future outlook of bitcoin as its popularity grows. “As awareness of cryptocurrencies continues to spread, all eyes are on bitcoin’s price. So we asked our panel of 42 cryptocurrency experts what’s in store for the coin,” the company detailed last week.
The panelists include crypto asset managers, executives of crypto exchanges and other service providers, crypto analysts, professors, and lecturers at universities. Among various topics discussed was what the price of bitcoin will be at the end of the year and a few years from now. Finder detailed:
“While there may be some medium term price depreciation, the panel predicts that by December 2025, the price of BTC will go up to $318,417.”
As for what the price of bitcoin will be at the end of the year, the majority of panelists (61%) said bitcoin is currently undervalued and on average the panel expected the price of the cryptocurrency at the end of 2021 to reach $66,284 per coin.
Morpher CEO Martin Fröhler was the most bullish about the price of bitcoin on the panel. With a year-end prediction of $160,000 per BTC, he opined:
“Adoption by corporations and institutional investors paired with a loose monetary policy and high asset inflation will propel bitcoin to 6 figures before the end of this year. The next halving cycle will see increased adoption of bitcoin as a legal tender by developing countries, and until 2030, bitcoin will have replaced gold as a global reserve asset.”
A panel of crypto experts has predicted that the price of bitcoin will rise to $318,417 by December 2025. The most bullish expert believes that the price of the cryptocurrency will reach $160,000 by the end of the year. Meanwhile, 54% of them think that hyperbitcoinization will happen by 2050.
Finder, a major product comparison website, has conducted a study to find out the future outlook of bitcoin as its popularity grows. “As awareness of cryptocurrencies continues to spread, all eyes are on bitcoin’s price. So we asked our panel of 42 cryptocurrency experts what’s in store for the coin,” the company detailed last week.
The panelists include crypto asset managers, executives of crypto exchanges and other service providers, crypto analysts, professors, and lecturers at universities. Among various topics discussed was what the price of bitcoin will be at the end of the year and a few years from now. Finder detailed:
“While there may be some medium term price depreciation, the panel predicts that by December 2025, the price of BTC will go up to $318,417.”
As for what the price of bitcoin will be at the end of the year, the majority of panelists (61%) said bitcoin is currently undervalued and on average the panel expected the price of the cryptocurrency at the end of 2021 to reach $66,284 per coin.
Morpher CEO Martin Fröhler was the most bullish about the price of bitcoin on the panel. With a year-end prediction of $160,000 per BTC, he opined:
“Adoption by corporations and institutional investors paired with a loose monetary policy and high asset inflation will propel bitcoin to 6 figures before the end of this year. The next halving cycle will see increased adoption of bitcoin as a legal tender by developing countries, and until 2030, bitcoin will have replaced gold as a global reserve asset.”
Mastercard Enhancing Program for Cryptocurrency Wallets and Exchanges
Payments giant Mastercard has announced that its crypto card program is being enhanced for cryptocurrency wallets and exchanges. The company said, “Making the process simpler will allow more banks and crypto partners the opportunity to offer their consumers the choice of paying with cryptocurrency.”
Mastercard Making It Simpler to Convert Cryptocurrency to Traditional Fiat Currency
Mastercard announced Tuesday that “it will enhance its card program for cryptocurrency wallets and exchanges,” making it “simpler for partners to convert cryptocurrency to traditional fiat currency.” The company elaborated:
“Mastercard and its partners will test this new capability to enable more banks and crypto companies to offer a card option to people wanting to spend their digital assets anywhere Mastercard is accepted.”
The enhancement to Mastercard’s existing crypto card program involves a suite of key partners. Evolve Bank & Trust and Metropolitan Commercial Bank will issue cards, while Uphold and Bitpay will provide real-time crypto wallet technology. Furthermore, I2c Inc., Apto Payments, and Galileo Financial Technologies will support processing and program management.
Paxos and Circle will then use their platforms to facilitate the conversion of crypto to fiat through stablecoins. Circle explained that “The engagement will test using USDC as a means for card issuers to more easily settle payments to Mastercard.”
Raj Dhamodharan, executive vice president of digital asset and blockchain products & partnerships at Mastercard, commented:
“Today not all crypto companies have the foundational infrastructure to convert cryptocurrency to traditional fiat currency, and we’re making it easier.”
Mastercard’s announcement further notes that “Making the process simpler will allow more banks and crypto partners the opportunity to offer their consumers the choice of paying with cryptocurrency.”
Payments giant Mastercard has announced that its crypto card program is being enhanced for cryptocurrency wallets and exchanges. The company said, “Making the process simpler will allow more banks and crypto partners the opportunity to offer their consumers the choice of paying with cryptocurrency.”
Mastercard Making It Simpler to Convert Cryptocurrency to Traditional Fiat Currency
Mastercard announced Tuesday that “it will enhance its card program for cryptocurrency wallets and exchanges,” making it “simpler for partners to convert cryptocurrency to traditional fiat currency.” The company elaborated:
“Mastercard and its partners will test this new capability to enable more banks and crypto companies to offer a card option to people wanting to spend their digital assets anywhere Mastercard is accepted.”
The enhancement to Mastercard’s existing crypto card program involves a suite of key partners. Evolve Bank & Trust and Metropolitan Commercial Bank will issue cards, while Uphold and Bitpay will provide real-time crypto wallet technology. Furthermore, I2c Inc., Apto Payments, and Galileo Financial Technologies will support processing and program management.
Paxos and Circle will then use their platforms to facilitate the conversion of crypto to fiat through stablecoins. Circle explained that “The engagement will test using USDC as a means for card issuers to more easily settle payments to Mastercard.”
Raj Dhamodharan, executive vice president of digital asset and blockchain products & partnerships at Mastercard, commented:
“Today not all crypto companies have the foundational infrastructure to convert cryptocurrency to traditional fiat currency, and we’re making it easier.”
Mastercard’s announcement further notes that “Making the process simpler will allow more banks and crypto partners the opportunity to offer their consumers the choice of paying with cryptocurrency.”