Bitcoin Attempts Recovery, Why BTC Could Revisit $60K

Bitcoin started a fresh increase above $57,000 against the US Dollar. BTC could extend recovery and it might revisit the $60,000 resistance in the near term. Bitcoin started a fresh increase above the $57,000 and $57,500 levels. The price is now trading above $57,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $54,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $60,000 resistance to continue higher in the near…

UK digital services tax targets crypto exchanges

A recent update to Her Majesty’s Revenue and Customs (HMRC) regulations has introduced a digital services tax that will be levied on cryptocurrency exchanges operating in the United Kingdom. Crypto exchanges in the UK will now have to pay a 2% digital services tax according to a Telegraph report. Britain’s tax authority, HMRC, does not recognize digital assets as financial instruments and therefore exchanges are not eligible for financial exemptions. On Nov. 28, the authority included cryptocurrency exchanges under the Treasury’s tech tax. The digital services tax on revenue was…

BTC, BNB, LUNA, MANA, SAND

Bitcoin (BTC) and most major altcoins have been struggling to recover from the sharp fall seen on Nov. 26. This indicates that traders may be nervous to buy at current levels due to the uncertainty regarding the new heavily-mutated coronavirus strain detected in South Africa. According to a CryptoCompare report, Bitcoin’s assets under management decreased 9.5% to $48.70 billion in November. On the other hand, the AUM of altcoin-based crypto funds increased 5.4% to $16.60 billion. This indicates that traders may have booked profits in Bitcoin and rotated part of…

Don Tapscott’s ‘Platform Revolution’ book review

Enterprise blockchain started to take shape in 2016, a time when companies like IBM began to leverage private networks for supply chain management. It was also during 2016 that author Don Tapscott wrote and published Blockchain Revolution, a book that examines the way that blockchain will transform a number of industries. Following the release of Blockchain Revolution, Tapscott — who is also co-founder of the Blockchain Research Institute — published Supply Chain Revolution in August 2020. Given the timing of the book’s publication, Supply Chain Revolution detailed the way the…

NFT art will never be mass-market — NFT licenses may be

Visa got itself a fancy new Twitter avatar this August, and even though it didn’t stay up for long, the 8-bit-styled picture of a visibly unamused woman with a stylish mohawk still made dozens of headlines. It was not just about the relatively hefty price tag of $150,000. The mere fact that the financial giant bought a nonfungible token (NFT) representing the image from the CryptoPunks collection set off fireworks in the media. It was the best marketing spend Visa’s done all year — the ROI on news articles alone…

6 Questions for Lyn Alden Schwartzer of Lyn Alden Investment Strategy – Cointelegraph Magazine

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes!   This week, our 6 Questions go to Lyn Alden Schwartzer, founder of Lyn Alden Investment Strategy, which provides an investment research service for both retail and institutional investors. Lyn Alden began her career in engineering. After working in the automation industry as an intern, she graduated from college and started as a junior electronics engineer for an aviation simulation…

New tribes of the Metaverse — Community-owned economies

People have talked in glowing tones about the transformative properties of blockchain since Satoshi Nakamoto launched Bitcoin (BTC) back in 2009 — books have been written, thousands of panels and presentations have complemented its prospects, costumed Bitcoin maximalists have flaunted their newfound wealth. Despite these commendations, the transformation has been slow. However, whether the delay was due to the global COVID-19 pandemic, or just the time needed to create innovation, we are now on the cusp of change that is creating new economies and ways of human interaction. The Metaverse,…

Bitcoin risks lowest weekly close in 2 months but BTC buyers stock up at $53K

Bitcoin (BTC) hovered around $54,000 on Nov. 28 as the upcoming weekly close showed signs of hitting two-month lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Buyers keen at $53,000 Data from Cointelegraph Markets Pro and TradingView followed a quiet 24 hours for BTC/USD after Friday’s $6,000 red candle. Although quiet into Sunday, the pair nonetheless dipped below a major zone of support on weekly timeframes, opening up the potential for its lowest end-of-week levels since late September. For trader and analyst Rekt Capital, $55,800 should be reclaimed to reverse this,…

US Bitcoin ETF favors Australian approval, but Aussies need to go further

On Oct. 19, 2021, the ProShares Bitcoin Strategy ETF (BITO) launched on the New York Stock Exchange. On its first day, the exchange-traded fund (ETF) saw an influx of close to $1 billion in natural volume and, within 24 hours, Bitcoin (BTC) itself would reach a new all-time high for its price in U.S. dollars. This comes a week after the U.S. Securities and Exchange Commission allowed the ETF’s application to expire, which effectively gave the okay for the product to move ahead.  This marks a significant step for the…

Bitcoin AUM falls 9.5% to record largest monthly pullback since July

While Bitcoin’s (BTC) position as a viable hedge against fiat inflation continues to attract investors, new data reflects a change in sentiment as Ethereum (ETH) and other cryptocurrency products pick up steam against falling Bitcoin assets under management (AUM). The Bitcoin AUM market fell 9.5% to $48.7 billion in November, marking the year’s largest month-on-month pullback since July, according to a CryptoCompare report. On the other hand, altcoin-based crypto funds such as ETH saw their AUM rise 5.4% to $16.6 billion. Monthly AUM of aggregated products. Source – CryptoCompare As…