Bitcoin price may bottom at $15.5K if it retests this lifetime historical support level

Bitcoin (BTC) could be in for a return to levels not seen since before its 2020 bull market if history repeats itself. That was according to new analysis released on May 24, which studied Bitcoin’s interaction with its 200-week moving average (WMA). Bitcoin floor target could be between $15,500 and $19,000 In a Twitter thread, popular trader and analyst Rekt Capital explained how BTC/USD could behave should it fall to retest the 200WMA. A lifeline throughout Bitcoin’s history, the 200WMA is a constantly rising line of last support that has…

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Bitcoin should be seen from an innovation perspective, says Miami mayor

Miami mayor Francis Suarez believes that Bitcoin (BTC) should be seen from an innovation perspective rather than just as an investment asset. Suarez’s comments came during his discussion on “The Future of Crypto” on the third day of the ongoing World Economic Forum (WEF) 2022 at Davos. He said: “We live in a world where investors only look at things from a return perspective, but Bitcoin should be seen from an innovative and technology perspective.” When asked about his views on the volatility debate in the crypto market, Suarez said…

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Blockchain community breaks stereotypes at Davos

On the second day of Global Blockchain Business Council’s (GBBC) Blockchain Central Davos 2022, Cointelegraph’s editor-in-chief Kristina Lucrezia Cornèr moderated a panel discussion focusing on the direction that the financial industry is going.  Panelists included the co-founder and CEO of Soramitsu, Makoto Takemiya; Treasury executive at Oesterreichische Nationalbank, Johannes Duong; and chief operating officer (COO) of Stellar Development Foundation, Jason Chlipala. The panel tackled various issues such as educating the mainstream about blockchain, how blockchain companies are breaking stereotypes at the World Economic Forum (WEF) 2022 and current market issues…

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Central African Republic to launch official crypto hub ‘Sango’

Shortly after approving Bitcoin (BTC) as legal tender in the Central African Republic (CAR), the local government is moving to provide the digital currency infrastructure. CAR President Faustin-Archange Touadera took to Twitter on May 24 to announce the upcoming launch of the country’s first major crypto initiative dubbed “Sango.” The creation of the CAR’s crypto hub comes soon after the National Assembly unanimously adopted Bitcoin as legal tender, Touadera noted. Following the unanimously adoption by the National Assembly of the #BTC legal tender status, we are pleased to showcase the…

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Top 3 cryptocurrencies that are faring the best in the 2022 bear market

The crypto market has been in decline over the past six months with its valuation dropping from over $3 trillion in November 2021 to $1.23 trillion in May 2022. Fears over persistently higher inflation, the Federal Reserve’s hawkish response to it, and the ongoing conflict between Ukraine and Russia prompted investors to limit their exposure to riskier assets. Also, their increasing appetite for the safe-havens, such as the U.S. dollar, weighed down demand for some of the top cryptocurrencies and U.S. equities. As a result, some digital assets, such as…

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What does the current slump mean for adoption?

It was September 6, 2021, when the Central American nation of El Salvador decided to go ahead and purchase 200 Bitcoin (BTC), worth about $10.3 million at the time. The day was hailed as momentous in the history of the crypto market and was met with much fanfare. In fact, many proponents claimed that the purchase was just an inkling of what really lay ahead in terms of a global crypto-driven economy. However, a lot has changed since then, especially with BTC losing 55% off its value after scaling up…

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Coinbase introduces crypto to Fortune 500 while FTX CEO featured in TIME 100

In an industry milestone, cryptocurrency exchange Coinbase has become the first corporation within the crypto and blockchain space to be featured on the prominent Fortune 500 list. A 68-year-old annual tradition, the Fortune 500 list is synonymous with ranking the leading corporations in the United States by total revenue, as well as other quantifiable metrics such as percentage profit margins, assets and the number of employees, among others. Retail giant Walmart captured the top spot for the tenth consecutive year with $572,754 million in revenue and a growth of 2.4%.…

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Yield Guild Games scholarships on the rise through Q1

Yield Guild Games (YGG) has released its Community Update for Q1 2022, revealing that total scholarships rose 39% overall as the guild continues to farm copious amounts of the Axie breeding Smooth Love Potion (SLP) token. The Community Report shows that the month-on-month growth of scholarships in YGG has been strong despite a downturn in the market. January saw 50.13% growth, February saw a 28.8% increase, while March had 41.93% growth fueled by new partnerships and the rollout of SubDAOs. By the end of March, the guild had 29,458 scholarships,…

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Russia’s updated crypto mining bill cuts tax amnesty for Bitcoin miners

In less than a month, the draft of a crypto mining bill in the Russian parliament has lost several key points, such as the obligation for mining operators to join a special registry and a one-year tax amnesty for all those who’ve registered. As the reasoning goes, the previous draft would lead to federal budget losses.  The fresh draft of the law “On mining in Russian Federation,” dating to May 20, appeared in the database of the lower chamber of the Russian parliament, the State Duma. The document bears several…

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Japan’s Bitbank to set up a custody firm to facilitate institutional entry to local markets

In a new development for East Asia, Japanese crypto exchange Bitbank announced a partnership with financial holding company Sumitomo Mitsui Trust Holdings with the goal of establishing Japan Digital Asset Trust (JADAT).  According to an announcement sent to Cointelegraph on Tuesday, JADAT will be created to offer custodial services along with auditing and wallet insurance. The company is designed to facilitate the entrance of institutional players into the Japanese digital asset market. Once established, the firm will specialize in custody services for digital asset holdings including cryptocurrency, security tokens on…

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