Bitcoin retests $37K support, gold and stocks drop lower over Fed comments

Bitcoin (BTC) price dropped another notch to $37,365 today after a failed attempt by bulls to retake the $40,000 level. The renewed slump comes as the stock market and commodities also pulled back as a result of Federal Reserve Chair Jerome Powell’s comments related to future interest rate hikes and concerns over rising inflation which led to pdeclines for both Bitcoin and gold.  Data from Cointelegraph Markets Pro and TradingView shows that the price of BTC climbed from $38,200 in the early trading hours on Thursday to a high above $39,500…

Ethereum to Reach $20,000 by 2025? Factors Behind The Bold Call

Ethereum could reach $20,000 by 2025 according to a Finder’s panel. Ethereum has since been gaining momentum, starting out at $1,000 at the beginning of the year and reaching an all time high of $4,196.63, according to Coin Metrics. Before losing steam and dropping down to its current price at $2,400. Clocking an average growth rate of 197.4% in 2021. This massive run has given the coin a lot of popularity. Ethereum currently ranks as the second most popular coin behind Bitcoin. Related Reading | Billionaire Tim Draper: Bitcoin Will Reach…

Could The Golden Ratio Provide Clues To The Bitcoin Bottom?

Bitcoin and other assets often develop support and resistance around Fibonacci levels, either through extensions or retracement. The ratios are based on the Fibonacci sequence, which has ties to the Golden Ratio. With the top cryptocurrency so tied to mathematics, the Golden Ratio could provide clues as to where Bitcoin is in its latest market cycle, and if a bottom has been put in. Cryptocurrency And Mathematics: More Than Just Code And Geometrical Shapes The Bitcoin code is built entirely on math, its distribution protocol also steeped in math, and…

House Republicans begin accepting cryptocurrency donations

The National Republican Congressional Committee, or NRCC, announced Thursday that it will begin accepting campaign donations in cryptocurrency as a part of a broader effort to retake the House and stop the Democrats from pursuing their policy agenda.  “The NRCC is proud to lead the charge in accepting cryptocurrency campaign contributions,” Chairman Tom Emmerson said in a statement, adding: “We are focused on pursuing every avenue possible to further our mission of stopping Nancy Pelosi’s socialist agenda and retaking the House majority, and this innovative technology will help provide Republicans…

Not sure if the bulls are back? Here’s how the golden cross spots trend reversals

The most important aspect in trading is to correctly identify the long-term trend. Once this is done, the rest of the steps are not very difficult because all a trader needs to do is look for buying opportunities in an uptrend and selling opportunities in a downtrend.  In reality, many traders complicate the process by waiting for lower levels to buy in a bull market and missing a large portion of the rally. Then, when the trend reverses and the price starts falling, the same traders start buying, which usually…

Hawaii had largest increase in demand for crypto out of US states this year

A new report from MiQ Digital indicates that demand for cryptocurrency has increased the most in the U.S. states of Hawaii and California in 2021. According to data gathered from Google Trends comparing the average interest from 2020 to 2021, MiQ Digital reported that Hawaii had seen a more than 687% increase in demand for cryptocurrencies over that in 2020, even more than runner-up state California at 655%. However, users are most likely to find businesses in California that are willing to accept crypto payments, with 440 currently doing so…

As NFT market cools, a chance to learn lessons from its explosive growth

What a difference three months makes. Back in March, there was a jubilant atmosphere when Beeple’s mega nonfungible token sold for $69.3 million. You didn’t have to look far to find bold proclamations that crypto art was the next bold frontier in culture — offering opportunities to fledgling creators and transforming the way we interact with masterpieces. Things look a little different now we’re in June. All-time highs for Bitcoin and Ether are a distant memory, and sobering figures published by Protos suggest that NFT sales have plummeted by 90% since…

Bulls aim to reclaim $40K ahead of Friday’s $520M BTC options expiry

Bitcoin (BTC) bulls have little reason to celebrate the 25% rally over the past nine days. After testing the $31,000 support on June 8, top traders’ optimism faded, and even the recent $41,000 high was unable to boost their expectations. Contrary to market sentiment, the United Kingdom’s Financial Conduct Authority has indicated a significant increase in cryptocurrency ownership in the country. A consumer survey found that 2.3 million adults in the U.K. now hold crypto assets, which is up from 1.9 million last year. Another theory that has been proven…

“Bitcoin maximalists? They can’t stop innovation”, says Mati Greenspan

In an exclusive interview with Cointelegraph during Bitcoin 2021 in Miami, Greenspan criticized a segment of Bitcoin maximalists for being “small-minded and insecure”, pointing out that they don’t have control over the main cryptocurrency. “They cannot stop any kind of innovation from happening. So let them yap, it doesn’t bother me,” said Mati Greenspan, CEO & Founder at Quantum Economics, about Bitcoin maximalists.  Greenspan‘s statements came a few days after a number of Bitcoin hardliners attacked him on Twitter for calling the Bitcoin conference in Miami “a crypto conference”. Greenspan’s inclusive…

NASCAR driver opts for crypto payment in sponsorship deal

Landon Cassill, a professional race car driver in NASCAR’s Xfinity Series, will be receiving part of his salary in Bitcoin and Litecoin as part of a sponsorship with crypto broker Voyager. According to a Thursday report from the Associated Press, Voyager has finalized a 19-year agreement to sponsor Cassill starting this weekend at the NASCAR race at the Nashville Superspeedway. Cassill said the firm would pay for the deal entirely in crypto, with a “portfolio of various digital assets” that includes Bitcoin (BTC) and Litecoin (LTC). The NASCAR driver was…