Binance had a hiccup with its withdrawals for Ether (ETH) and all ERC-20 assets on Friday, with users being unable to access any of their Ethereum-based assets for about one hour. The pause came abruptly, as the exchange's Twitter account notified users that Binance had “temporarily suspended withdrawals of ETH and Ethereum-based tokens in order to address a congestion issue.”

Binance reassured that “funds are SAFU,” but did not provide any further details. About one hour later, withdrawals were apparently restored but the exchange did not attempt to explain what prompted them to pause such a critical piece of its infrastructure.

The somewhat vague motivation of “congestion issues” seems to have indicated that Ethereum’s high gas fees had something to do with the pause. The community showed skepticism at such an explanation, with Red, a moderator in the Harvest Finance community, drawing a connection to the rise of Binance Smart Chain:

Indeed, data shows that Friday was not in any way exceptional in terms of blockchain congestion. A DuneAnalytics dashboard by Alex Kroeger shows that prices were in line with the previous two days.

According to Etherscan data, average gas prices are now lower than at the beginning of February, which makes Binance’s current statements all the more confusing. Either way, congestion by itself should not be a major issue for an exchange.

These circumstances attracted suspicion toward Binance’s true motives, with popular pseudonymous analyst Hasu suggesting that it was a “declaration of war on Ethereum.” While the comment was posted before withdrawals resumed, the community at large remains confused as to what exactly happened.

A technical malfunction could be an adequate explanation. FTX CEO Sam Bankman-Fried noted that the Amazon Web Services cluster hosting both Binance and FTX was down, which created issues for the platforms. Bankman-Fried was replying to reports of denial-of-service attacks, however.

A Binance spokesperson contacted by Cointelegraph did not wish to provide any further details, though they said it was a “mundane issue.”

Curiously, Binance Coin (BNB) price spiked from $260 to a brief peak of $350 immediately after the pause was announced. Ether had a mild fall from $1,930 to $1,916 during that time frame, which could have been a normal market fluctuation.

TL;DR Breakdown:

A recent announcement from the U.S. Securities and Exchange Commission (SEC) informs that the regulator has updated its warning list “Public Alert: Unregistered Soliciting Entities (PAUSE)” with 28 suspicious companies, eight of which are dealing with digital currencies. The unregistered crypto companies were reportedly operating with false corporate information to solicit funds from investors and people new to cryptocurrency – mostly non-US residents.

According to SEC, the unregistered companies that made the PAUSE list have been the subject of investor complaints. The regulator also found that these companies were operating with inaccurate information regarding their registration, locations, and other corporate information. Companies that intend to solicit funds from investors are obliged to meet certain requirements that include registering the regulator.

The eight crypto companies added to the list are not recognized by the SEC. Currently, the listed website for three of the companies – FXBitcash, Cryptobravos, and BitminingFX – are down. The other five crypto companies include- Passive Trade Plan, Reclaws International Inc., RetireWell Investors, AxTrading-Investment, and SmartCoins24. They are promoting crypto and blockchain services, targeted at new investors who are mostly based outside the United States.

The development today is meant to better inform investors about unregistered companies posing with false corporate information. This is expected to help them avoid being victims of crypto scams. However, the “inclusion on the PAUSE list does not mean the SEC has found violations of U.S. federal securities laws or made a judgment about the merits of any securities being offered.”

The United States SEC is one regulator that is actively watching the U.S. crypto space against misconduct and suspicious activities. Last year, the regulator charged a pastor who was allegedly running a bottle water crypto scam. In the same year, the regulator charged a Pennsylvania crypto company for mismanagement of funds.

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Bitcoin (BTC) rally might have taken a pause over the last week, but that is no cue for other cryptocurrencies, often referred to as “altcoins.”

While the world’s apex cryptocurrency is up 6% over a period of seven days at $36,926.71 at press time, several altcoins have almost doubled their market valuations over the same period.

DeFi: The decentralized finance protocol-based cryptocurrencies have in particular added tremendous gains over the past week, with SushiSwap (SUSHI) up 103.28% at $7.62 at press-time.

Fellow DeFi cryptocurrency Uniswap (UNI) is up 83.3% at $9.29. Aave (AAVE) has surged 79.47% to $201.06. Yearn.finance (YFI) is up 28.16% at $37,566.14.

See Also: What's In Store For DeFi In 2021? - The Analysis And Predictions

Smart Contract: Among cryptocurrency backing smart contract platforms, the top-of-the-chart Ethereum (ETH) has added 24.6% at $1,321.01 in the 7-day period to press-time.

Polkadot (DOT) has surged 98.24% to $16.34 in the same period. Cardano (ADA) is up 37.01% at $0.37 at press-time.

Tezos (XTX), Cosmos (ATOM), and NEO (NEO) are also cryptocurrencies supporting smart contract platforms that have outperformed Bitcoin in the week.

Read Next: Polkadot Outperforms Bitcoin, Rival Ethereum To Join The Top 5 Cryptos: What You Need To Know

Bitcoin lost steam on Wednesday, pausing a bull run that had accelerated on the backs of Tesla’s $1.5 billion investment and optimism over a massive stimulus package in the United States.

The benchmark cryptocurrency closed marginally higher by 0.14 percent on Tuesday, forming a Doji candle that shows an imminent bias conflict in the market. Today, during the Asian session, Bitcoin showed signs of bearish reversal (short-term) after dipping by more than 1 percent to hit an intraday low near $45,666.

At its highest, the cryptocurrency was trading at $48,200 in a follow-up to its 20 percent rise on Monday.

The reversal came despite the euphoria surrounding Tesla’s consideration of Bitcoin as an alternative to cash, a narrative that bulls had pushed for years. Also, US President Joe Biden’s pressure on Congress to pass a $1.9 trillion stimulus aid avoided offering tailwinds to the Bitcoin price rally.

In a note to investors, JPMorgan & Chase strategists led by Nikolaos Panigirtzoglou said Tesla’s bitcoin bet would not result in copycat investments from other major corporates. They argued that the cryptocurrency is still too volatile to replace cash as a store-of-value asset effectively.

Jerry Klein, managing director at New York-based investment management firm Treasury Partners, also noted Tesla’s move makes no sense. In an interview with the Financial Times, the Wall Street professional noted that corporates are willing to accept a low return rate via cash than to balloon their risks by investing in Bitcoin.

“I don’t think there is a case to be made for investing corporate cash in a risky asset like bitcoin, where they could experience significant declines.”

Meanwhile, many analysts within the cryptocurrency space expressed their risk-aversion bias towards Bitcoin, with independent technical chartist Kevin Cage hoping to see the price at $74,000 but still warning about a major downside pullback should the rally fail to mature.

“It won’t last forever, but I hope we get a few more months of PUMPS,” the analyst tweeted Wednesday.

A dissenting outlook over Tesla’s investment into the Bitcoin market appears to have counterbalanced the ongoing bullish euphoria. Traders typically use these periods to withdraw their profits and wait for another dip to repurchase the underlying asset.

For instance, after PayPal announced in October last year that it would enable bitcoin services on its platform, the cryptocurrency surged by over 60 percent within the next month—from $11,900 to $19,469. Nevertheless, it later underwent a 16.92 percent downside correction on profit-taking sentiment.

Bitcoin later bounced back after spotting a support level near its 20-day exponential moving average (the green wave in the chart above). The cryptocurrency stretched its rebound to a new all-time high just yesterday, led by Tesla. It could now attempt to undergo a similar, healthy correction towards the green wave. It sits near $40,000.

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Institutions taking profits and rising interest rates have pushed bitcoin down in the past week, said the Director of Research at Forbes Crypto – Steven Ehrlich.

Simultaneously, he outlined Ethereum’s growing adoption among institutions and the role it plays behind DeFi and NFT as the main reasons why ETH has outperformed BTC last year and continues to do so in 2021.

Ever since October 2020, the primary cryptocurrency has been on a roll that saw its price expand by roughly six-fold to a new all-time high record registered in mid-March at $61,800. Year-to-date alone, BTC is up by approximately 80%.

However, this impressive run seems paused at the moment, as bitcoin has lost about $10,000 of value and even came close to breaking below $50,000 yesterday.

The Director of Research at Forbes Crypto touched upon BTC’s ongoing cycle and said that the asset could be in somewhat of an “exhaustion” phase. He believes that some of the institutional investors that entered the market in the past several months have decided to take some profits off the table.

However, he sees an even more potentially-damaging threat with the rising interest rates:

“Whenever interest rates go up, that makes fixed-income investment products comparatively more advantageous for investors because they have a lower-risk profile.”

He added that while bitcoin is “promoted” as a safe-haven asset, it tends to trade recently as riskier investment tools, such as equities.

Nevertheless, Ehrich remains bullish on BTC over the mid- and long-term, despite envisioning a short-term retracement.

While BTC has gained 80% since the start of the year, the second-largest cryptocurrency is more than 110% up. Moreover, ETH also outperformed bitcoin last year.

Ehlrich attributed Ethereum’s better performance to two primary reasons – institutional adoption and the utilization of its network.

As previously reported, institutional investors have enhanced their appetite towards ETH, while some companies have put it on their balance sheets as well.

The Ethereum blockchain is the underlying technology behind two of the most popular crazes in the crypto community – decentralized finance (DeFi) and non-fungible tokens (NFTs).

While the growing usage of the Ethereum network creates issues of its own, this utilization makes the native cryptocurrency all that more attractive to new investors.

Source

Bitcoin has remained stable amid the announcement of a COVID-19 vaccine, which is 90% effective. The rally from the crash in March has mostly been attributed to instability in global markets like stocks. Last week BTC/USD sprung to new yearly highs close to $16,000. A reversal occurred with the bellwether digital asset refreshing the support at 14,500. BTC/USD did not, however, stay down for long as a recovery came into the picture, lifting Bitcoin above $15,000. Price action on the upside has been limited under $15,500. Meanwhile, stability has encroached, bring calm in a market that was extremely bullish last week. The emergence of the COVID-19 vaccine means that the stock market could start to rally. The influx of money into Bitcoin and other cryptocurrencies may go down, negatively impacting the buying pressure. For now, BTC is dancing at $15,270 amid consolidation. As mentioned, resistance at $15,500 is delaying the anticipated breakout to $16,000. A broader look at the 4-hour chart brings into the picture possibility for a reversal taking precedence in the near term. A divergence formed by the Relative Strength Index adds credibility to the bearish outlook. It worth mentioning that Bitcoin will resume the uptrend if the hurdle at $15,500 is broken. The lift-off to highs above $16,000 might ride on the fear of missing out (FOMO). Many analysts believe that Bitcoin is in a bull market and likely to jumpstart the rally. Advertisement On the downside, support is expected at the 50 Simple Moving Average in the 4-hour range. Last week’s support at $14,500 will come in handy, while extended losses will seek refuge at the 100 SMA as bulls fight to prevent losses under $14,000. Spot rate: $15,280. Relative change: -60 Percentage change: -0.4% Trend: Consolidation Volatility: Low To keep track of DeFi updates in real time, check out our DeFi news feed Here.

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SEC commissioner Hester Peirce remarked during a virtual conference appearance last week that "evidence-based rulemaking is not yet the norm in crypto-regulation" as part of a wider exploration of the topic.

Peirce spoke on March 15 during an event organized by the British Blockchain Association. According to a transcript of her speech, Peirce once again outlined an expansive and positive viewpoint on cryptocurrencies, noting in her speech authorities perhaps spend too much time focusing on the "illicit" use of the technology compared to its potential benefits.

"Perhaps, government officials should pause to consider the flip side of crypto—its value in protecting people from illicit activity," Peirce said. "Because of its ability to reach people without intermediaries and its ease of storage, transport, and access, crypto can be an important part of the survival story of people living under the threat of harm by their families, people in their communities, or repressive governments."

This line of thinking, according to Peirce, is reflective of a broader issue in the realm of crypto regulation in the U.S. today:

"The disproportionate focus on illicit uses and the underestimation of the protective uses of crypto is one example of how evidence-based rulemaking is not yet the norm in crypto-regulation. We can do better, and I hope that this year will mark a turning point for the United States, which in turn may spur other countries similarly to take a more sensible approach to crypto regulation. The SEC faces several challenges and corresponding opportunities in regulating blockchain-based assets and technologies. While the specifics will not be the same for other jurisdictions, some of the general regulatory principles likely are applicable despite jurisdictional differences."

As might be expected, Peirce honed in on bitcoin exchange-traded products during her speech, an area of significant interest given the growing number of companies attempting to gain approval from the SEC and the past reluctance from the U.S. securities regulator to give the nod to such products. Today's scrutiny comes as bitcoin ETPs gain traction in Canada and abroad.

She critiqued "ever-moving goalposts" in the SEC's consideration of bitcoin ETPs, noting that such conditions are "unfair to innovators who spend ever-increasing amounts of money on attorneys and quantitative experts only to find that they have failed to hit a target that has moved once again."

"Regulators should commit themselves to providing regulatory clarity so that traditional financial market participants can engage with crypto with confidence that they are complying with their regulatory obligations," she later said.

The speech suggests Peirce holds the view that rising interest from institutional investors will become a growing pressure point on the SEC in its decision-making on crypto issues.

As she told event attendees:

"The pressure on us to grapple with the difficult questions through rulemaking and guidance will intensify rapidly along with institutional interest in crypto. Legacy financial institutions and traditional investors that have sat on the sidelines until now are likely to push us to allow them to play a more active role. Meanwhile, some crypto-native firms are now large companies that are woven into the fabric of the broader economy and so also will command more regulatory attention."

"A final regulatory lesson then is that the regulatory work is only just beginning," she went on to say.

The Non-Fungible Token (NFT) market is the hottest new cryptocurrency, but it’s unclear if a platform like Ethereum is poised to capture these gains. An NFT is the registration of ownership of a digital object on a blockchain. An NFT is a right to a stake in the ownership of a collectible such as art or wine. It can be any media, including but not limited to art, videos, music, games, or even tweets. Non-fungible means the object is unique, making it irreplaceable. For example, crude oil with the same gravity and sulfur content is fungible, and you can trade it anywhere in the world. The Monalisa is a unique piece of art that is non-fungible.

Most of the main NFT projects on Ethereum are marketplaces for digital collectibles. Some of these market places have thousands of daily active users, with their weekly transaction volume climbing to millions of dollars. The movement toward NFT’s has put Ethereum back into the limelight. The cryptocurrency has ran up 417% in 2020 and is poised to test higher levels. The technicals are also strong, which in conjunction with this new impetus, could help Ethereum move higher.

NFTs can be a catalyst in transforming the economics of creative activities. By allowing an artist to monetize directly with their fans. An NFT is on the blockchain, allowing the buyer of the NFT to prove that it is an original piece. This type of transaction will also allow an artist’s content can be sold globally on decentralized marketplaces. Additional NFTs also have a feature that pays the artist a percentage every time the NFT is sold or changes owner. This royalty feature will allow a songwriter to capture the royalties of a song on an NFT. Instead of being copied by millions of users for free, an artist can reap the song distribution gain.

While some of the auction houses have moved to some NFT models, there have been videos and GIF that have seen strong demand. An NFT video by beeple sold for $6.6 million, and someone paid $3,600 for a gucci ghost GIF, and a collection of digital furniture by andrés reisinger made $450,000. According to DappRadar, the top 3 NFT products are NBA Top Shot, Crypto Punks collectibles – based on Ethereum, and OpenSea, an NFT exchange.

While the activity in the NFT space may seem like yet another game-changer for Ethereum, there are some issues the world’s largest altcoin has to address. The scalability issues continue to endure. DApp developers have also been trying to build NFT-exclusive chains since 2018. Crypto-punk collectibles, based on Ethereum, despite being one of the top three NFTs in the market in terms of daily transaction volume, trails NBA Top Shot significantly. At the moment, NFTs are still a relatively new and emerging market, and just as institutions doubled down on BTC in 2020, 2021 may see a similar influx concerning NFTs. Given Ethereum’s promise as a platform, this year could be the year ETH gains massively.

It should not go unnoticed that Ether surged 470% in 2020 and is poised to test higher levels in 2021. The cryptocurrency’s initial movement increased, but as riskier assets came under pressure in mid-February, the cryptocurrency pair declined in value.

The upside for Ethereum looks bright, and the technicals point to higher prices. Ethereum is forming a cup and handle pattern, which is a pause that refreshes higher. The cryptocurrency has held support near the 50-day moving average and is poised to test the all-time highs near 2K. The 10-day moving average has crossed above the 50-day moving average, meaning that a short-term uptrend is now in place.

Medium-term momentum is positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. This scenario occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses above the MACD signal line (the 9-day moving average of the MACD line. The MACD histogram also generated a crossover buy signal. The histogram pushed through the zero-index level. The MACD histogram is printing in positive territory with an upward sloping trajectory which points to higher price for Ethereum.

Short-term momentum is also positive. The fast stochastic, which is a momentum oscillator, generated a crossover buy signal in oversold territory. The buy signal occurred when the fast stochastic was printing a reading of 15 below the oversold trigger level of 20, which generally foreshadows a correction. The fast upward movement of the fast stochastic reflects accelerating positive momentum. The relative strength index (RSI) also moved higher but has recently flattened, which could reflect consolidation in the price of Ethereum.

What is clear is that a new impetus has arrived that could allow Ethereum to gain further popularity as NFT’s take off. Recall, and Non-Fungible Token is a stake in an asset, which could include collectibles and media and tweets. The token gives the buyer the right to that product. Ethereum is in a strong position to allow the development of NFT’s on its platform and further gain traction as a platform that will provide access to NFT’s. After gaining more than 400% in 2020, Ethereium is poised to gain further. Momentum has turned positive, and the trend in cryptocurrency is upward sloping. The combination of a new impetus and positive technicals could point to higher prices for Ethereum.

You are probably aware of the cryptocurrencies buzz. Bitcoin is now the in thing worldwide. According to Yahoo’s historical data, bitcoin is trading at $55k (march 2021) up from about $5k in march last year. This means that if you bought some bitcoin a few months ago, you have multiplied your wealth significantly.

If you have not joined the crypto trading bandwagon, you are not late. The high demand for and high volatility provides a massive opportunity to trade cryptocurrencies and get handsome profits. But how do you trade cryptocurrencies profitably, you ask?

Well, we shall look at the five top cryptocurrency day trading set up you should know. But first, let’s explore what is day trading and why is it important to use day trading setups.

In trading, anything can happen. Therefore, predicting market movement is not an easy job. For this reason, you require a tool to help you determine the best time to enter the market and make good profits. This where setups come in handy.

Trading setups are chart patterns that predict what is about to happen in the market. In fact, they reflect trading psychology. This means that they portray a bigger picture of what is happening in the market including how the traders are thinking and reacting. Chart patterns are developed over a long time after observing different markets.

That said, you must keep an eye on the market to notice when a perfect opportunity arises. These patterns have proved useful in trading bitcoin and other cryptocurrencies due to high volatility and massive price movement. The best way to practice day trading cryptocurrencies is on a crypto demo account that many brokers offers free of charge.

Coming up with a good trading strategy is an exacting task. Luckily, a setup can help you develop a good strategy by providing some certainty in the market. It provides a perfect time to enter a trade and make profits. A good day trading set up give offer efficient and certain market entry and exit points.

Think about real life. We use historical data and patterns to make predictions. In fact, real-life patterns determine how we act. For instance, previous experience helps you find the best time to beat traffic or buy a certain product.

The market operates the same way. Cryptocurrencies setups tell you when it is likely to make profits depending on previous market behavior. Now let’s look at some of the best settings that are effective for day trading.

Triangle setups work perfectly in volatile markets. Luckily, cryptocurrencies boast volatility attribute. Therefore, this setup provides great potential returns in the cryptocurrency market.

There are three types of triangles ascending, descending and asymmetrical. Usually, triangles form during lunch hours in the US and the trend resumes as volatility picks up.

The idea is to wait for the market to pause and catch the markets as it drifts from the triangle.  Triangle formations require at least two swings low and two swings high connected with trend lines extending to the right. They are quite similar to a flag set up.

So how do you trade cryptocurrencies after identifying a triangle setup? Well, it is pretty simple and straightforward. Simply sell at the most recent swing high and buy at the swing low to maximize profits.

Breakout is one of the most profitable market setups.  The basis of breakout trading is identifying resistance and support levels. The next step is to buy when the price breaks the resistance level and sells when the price breaks the support level.

Swing highs and swing lows also provide great break out setups. In this case, the market forms a V shape after a strong rally followed by a strong sell-off. This strategy is known as swing high and swings low breakouts.

Additionally, Instruments such as bitcoin record gaps on market due to high volumes. The gaps are usually related to a news event. In this case, you can use a fade the breakout strategy which involves taking advantage of a blip in price. The trader bets against a move that takes the price out of the chattered territory. However, you should not confuse this with trading against the trend.

The market is ranging most of the time. The market prices range 80% of the time. Therefore, It is important to be conversant with range setups.

When a cryptocurrency market is range-bound it oscillates within specific price levels. As a trader, you should ensure the price range does not break outside the resistance and support levels. Remember, for the market to qualify as range-bound it should form at least two highs and lows.

The easiest way to trade ranging setup is to buy near the support zone and sell at the resistance level. The profit target should be near the support level for a bearish position and resistance zone for bullish entries. In general, the right time to enter the trade is when the market breaks the flat range.

One of the best setups for trading cryptocurrencies is flags. Flags are quite simple to identify and quite straightforward to use. Since flags incorporate trading psychology they have a relatively high winning rate.

I know you are eager to put the flag set up into action, right? I thought so. Here is how to go about it. Look for cryptocurrencies that have a high bullish movement. The good news is that most cryptocurrencies are currently on an uptrend. For instance, bitcoin is experiencing an insane proliferation of price.

A strong movement in the market forms a pole. The flag forms as the asset price consolidate at the pole. A flag that forms with less than 23.6% retracement is the strongly trending flag and provides the most perfect entry.

Flags are easy to understand. They also form small candles hence relatively less risky. This makes the setup beloved by day traders.

Cup and handle is a bullish continuation set up. This chart pattern is perfect for cryptocurrencies, which are currently riding a bullish trend. Essentially, the market forms a round bottom pattern (the cup).

The handle is retracement that forms after the round bottom pattern and is confined by parallel lines. To give a clear picture, handles are similar to the wedge pattern. The asset then resumes the overall bullish trend completing the cup and handle setup. The whole idea is to buy after the retracement wedge.

The cryptocurrency market is experiencing significant growth. The increase in market participants and high volatility provides a great opportunity to make a profit. If you are still stuck on how to start trading cryptocurrency this guide will get you started. Why not start today?

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Bitcoin has been in the headlines a lot lately. Whether it’s PayPal announcing support for crypto or Tesla adding $1.5 billion of BTC to its balance sheet, the world’s best-known digital asset is starting to attract the sort of mainstream coverage that once seemed fanciful. With renewed interest from both institutional and everyday investors, it’s natural to wonder where bitcoin is headed. To the moon, as its proponents claim? Or will somewhere closer to Earth suffice?

Joel Edgerton, the Chief Operating Officer (COO) of San Francisco-based crypto exchange bitFlyer USA, is unsurprisingly bullish about bitcoin – and many other virtual currencies besides. The only cryptocurrency platform in the world licensed in the US, EU, and Japan, bitFlyer is a regulator-friendly venue that features a professional-grade trading engine built by Wall Street veterans. According to Edgerton, bitFlyer remains true to the ethos of Bitcoin while also enabling traditional investors and hedge funds to enter the crypto space and strengthen its value proposition.

Why more people are buying bitcoin

Bitcoin has well and truly paid its dues, and despite flak from all the usual sources, it’s now perceived as a compelling investable asset – one routinely used to rebalance portfolios formerly composed of bonds and equities. Bitcoin’s rise from the depths of $3k a year ago to around $54,000 at the time of writing is nothing short of phenomenal, says Edgerton.

When Bitcoin’s market capitalization surpassed $1 trillion for the first time, it gave even the naysayers pause. Soaring prices provoked frenzied activity here at bitFlyer, as many altcoins enjoyed tremendous gains in bitcoin’s wake. 

The attitude of newcomers is easy to fathom, of course: they hear friends or family members talk about bitcoin, they learn that Tesla and MicroStrategy are buying up enormous sums, and then they learn that bitcoin is a bonafide hard currency – unlike fiat. A report recently leaked from Citibank showed that a senior analyst believes bitcoin could hit $318,000 by the end of the year. While it might fall well short of that figure, for many, buying bitcoin is preferable to storing wealth in a super low-interest savings account.

As for institutional players – the NYDIG just raised $200 million in growth capital from partners including Morgan Stanley, New York Life and MassMutual – we are seeing a domino effect, says Edgerton. Don’t get me wrong, some genuinely believe in bitcoin and love what it brings to the table in an era of mass money-printing. But others simply take the approach that it’s best to incorporate bitcoin on their balance sheet – because they might look silly later on for not having done so.

Robinhood brouhaha pushes traders towards crypto

The GameStop scandal, wherein popular trading app Robinhood prevented customers from buying shares, provoked a congressional hearing and compelled many traders to explore alternatives. According to Edgerton, the event exposed fissures in the traditional financial system. 

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I’ve been very critical of Robinhood in the past, specifically with regards to their lack of customer protections. Last year, a young trader on their platform committed suicide after falsely believing he had gotten himself into huge debt trading complex options contracts. From the outside looking in, this seemed like such a preventable tragedy: allowing novice traders to access highly risky financial instruments without safeguards is a recipe for disaster.

As for GameStop, the event proved to be a perfect storm that pushed many users towards decentralized cryptocurrencies and platforms, where the powers-that-be couldn’t hit a kill-switch to halt trading and protect those on the other side of the bet. Of course, regulations are still important. bitFlyer USA recently received a license in Connecticut, meaning we are now regulated in 48 U.S. states. Soon, it’ll be all 50.

As COO of a centralized trading platform, is Edgerton worried about the growth of decentralized finance (defi) platforms? Specifically decentralized exchanges (DEXs) like Uniswap and Sushiswap?

I believe CEXs and DEXs can coexist, he says. Cefi is still the king in terms of liquidity and security, while defi has plenty to offer in its own right, especially in terms of offering automated financial services. As it stands, what we are seeing is that major institutional players favor CEXs like bitFlyer due to their high-speed trading engines and legal stability.

Regulation for the good

In my view, crypto needs structured regulatory frameworks to ensure safety, fairness and transparency, and to elevate the reputation of the industry as a whole. In the past, projects have been fined for conducting unregistered securities sales while exchanges have faced accusations of wash trading. Some regulators have also banned derivatives for retail investors.

I don’t agree that introducing regulations compromises bitcoin, because the properties that make the asset attractive – its finite supply, its state-free status – remain. If properly implemented, regulations will help to reduce scams and ensure consumer protection in an industry that is, after all, still evolving.

It’s a little too early to say how incoming Treasury Secretary Janet Yellen will influence industry regulation. Certainly she has noted a need to legislate to prevent illicit usage of bitcoin, which is to be expected. But it’s definitely good to see some crypto-friendly figures taking executive roles in Biden’s administration – former Ripple advisor Michael Barr looks likely to head up the Office of the Comptroller of the Currency (OCC), for example, while Hester Peirce remains S.E.C. Commissioner.

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Though philanthropy seems a million miles away from the rampant market speculation facilitated by bitFlyer, Binance and Coinbase, Edgerton is keen to draw attention to worthy causes. Bitcoin has enriched many of its early adopters, he says, accelerating a transfer of wealth to a generation of tech-savvy individuals keen to make a better world. That’s why we are seeing NFT charity auctions, and exchanges donating a percentage of their fee revenue to non-profits.

As well as that, we are seeing everyday users donate in crypto rather than fiat. Fidelity Investments’ gift fund, Fidelity Charitable, received almost $30 million worth of donations in cryptocurrency last year. At bitFlyer, we have our own crowdfunding portal, fundFlyer, that lets people raise funds in bitcoin to finance worthy initiatives. Our latest initiative was to build a school in Ghana, and the community came together to raise over 10 BTC – over half a million dollars at the current price!

Honestly, it’s a great time to be working in crypto, says Edgerton. While that statement would be true in any bull market, this one is institutionally-driven and the direction of travel has never been clearer. We are seeing private banks launch trading and custody services, and assets like bitcoin and ETH gain additional utility due to, for example, fiat on/off ramps and merchant acceptance. While peering into the crystal ball is a futile pursuit, the positivity pervading the industry right now augurs well.

We all want to make money and be rich like Elon Musk, but we always forget that he did not become the richest man on Earth in a day. Crypto trading is just like any other trading activity. Profits are made when traders buy wisely; losses are incurred when trades go wrong. Patience and discipline are key virtues when it comes to cryptocurrency trading.

Always keep in mind that when investing in the crypto world, the market is highly volatile. Cryptocurrencies tend to fluctuate in price within seconds; prices increase and decrease at a high percentage. Crypto trading is not a market you can easily manipulate, you know, like bribing Bitcoin to continue rallying in a bullish trend.

As long as people are trading in crypto, prices can increase because the demand is high and supply is low. When the traders stop or pause trading in crypto, the prices fall because the supply is high and low demand. Like Bugatti La Voiture Noire, with only 10 in production, it makes it the most expensive car in the world right now.

Patience is always a virtue. It is one of the oldest sayings but also very accurate. In the crypto trading, you need to be patient. Suppose you are wondering how and why patience is necessary when trading, consider the following example. 

On 31st January 2020, Bitcoin was priced at $9,501.38, while as of 31st July 2020, $11,113.66. Now assuming we have Trader A and B who both bought Bitcoin on 31st January 2020. Trader A decides to sell his Bitcoin on July 31, 2020 at $11,113.66, making $1,612.28, while trader B continues to hold his Bitcoin until 10th March 2021, trading at $54,458.04, making a profit of $44,956.66.

Patience can make you earn more profits and sometimes lose money. The crypto market is very volatile. You can not predict how the market might behave, but you can predict the prices to near accuracy with experience and research. Investing in crypto without patience can make you miss out on incredible opportunities.

Never invest blindly. It can help you a lot in the future if you understand what you are investing in. I know that it is easy to jump into the cryptocurrency world’s bandwagon right now because it is what many people are doing but as you do it, understand what Bitcoin means, what it does. Research on the other cryptos, learn all you can about what they are used for. Sufficient knowledge helps when making decisions on which coin you can invest in.

It is an online trading software that enables its users to trade from anywhere at any time. It has a substantial win rate and performs transactions up to 0.01 seconds faster, and a high accuracy rate. It is better compared to most trading platforms.

CFD Trader uses AI and machine learning technologies to generate a high return rate on any investment done by its user. You can check out the CFD Trading platform and confirm this platform’s transparency and how to create an account. It does not hide any details, making a user trust it more as all the information is revealed before you start trading.

With CFD Trader, you can rest assured that your money is in trustworthy hands. However, like all marketplaces, crypto trade is not a market with 100% guarantee for profits all the time; you might make money and lose money other days.  

If there is one thing that makes trading hard when using online methods, it is to find out that you cannot withdraw funds from your account with ease. CFD Trader has solved this problem by ensuring that they have a seamless payment system. There are no withdrawal restrictions, and you are not charged any hidden fees. In case you experience any issues or delays when trading, customer support is always available to help. You can contact them via phone, email, or live chat.

Coinbase is one of the easiest and convenient trading platforms available. It is also one of the best crypto apps. It is simple, easy to use, and convenient. It has features that allow you to check how your portfolio is performing. You can transfer crypto to your coinbase wallet and then convert it into different other coins, or you can load up your wallet and buy crypto. To load up your wallet, you only need to link your bank account to your Coinbase account.

Coinbase enables you to set intervals and schedule when you want to buy or sell crypto. It offers resources on all the coins available on their platform, and you only need to click on prices, the crypto you are interested in, and there you can find all the available information about that coin. It saves time since you do not need to spend much time on Google or social media researching.

If you love setting price targets for your crypto and selling when it hits that price, Gemini can make this happen. It is easy to use and enables you to track real-time information and data on any crypto you want as long as it is on the Gemini platform.

It is simple to create a Gemini account. It takes roughly 3 minutes, and you are set to trade. You only need to fund your wallet to enable you to trade, and you do not even have to worry about your data being shared with third parties.

After going through all this article, it’s time to put what you have learnt into real practice. If you need a reliable platform to kickstart your journey, Check out the CFD Trading platform, create an account, fund your account and start trading cryptocurrencies. Bitcoin was the best performing asset class of 2020, and it has intensified the momentum in 2021. To win in the cryptocurrency market, you need to practice patience and avoid greed; have a clear exit strategy for every trade. 

Have any thoughts on this? Let us know down below in the comments or carry the discussion over to our Twitter or Facebook.

The ongoing bullish cycle is yet to hit its local top despite Bitcoin brushing shoulders with $48,000 (new record high). Ethereum and Cardano are at the helm of the rally as far as altcoins are concerned.

Binance Coin has gone ballistic with gains surpassing the recent $100 prediction to achieve new all-time highs at $140. Other altcoins performing incredibly well are Uniswap, EOS, Terra, Huobi Token and Filecoin.

The king of cryptocurrencies has settled above $46,000 after trading new highs at $48,000. The recent spike from $38,000 happened after Tesla, the company founded by Elon Musk, announced the purchase of $1.5 billion worth of BTC. Meanwhile, the pioneer cryptocurrency appears to have secured higher support, allowing bulls and investors to gather the strength for another rally beyond $50,000.

The Relative Strength Index (RSI) on the 4-hour chart validates the consolidation by levelling around 70. A return into the overbought region will signal another upswing and perhaps call for more buy orders. Bitcoin needs to break past $48,000 to kick start the next rally above $50,000.

BTC/USD 4-hour chart

Ethereum is trading at $1,790 after a minor retreat from highs beyond $1,800. A new all-time high has been formed at $1,840, but the journey to $2,000 appears to have been temporarily halted. Finding higher support will secure the uptrend by confirming to investors that stability exists in the market.

The RSI has reinforced the short-term breakdown on the 4-hour chart. A bearish divergence from the price adds credibility to the correction. This deviation comes into the picture when the price forms higher lows while the RSI creates a series of lower highs.

In the event support at $1,750 fails to hold, the smart contract token will drop to $1,700. The 50 Simple Moving Average on the 4-hour chart is also in line to provide support if the bearish leg extends under $1,700.

ETH/USD 4-hour chart

The cross border token is gradually reclaiming the recently lost support levels. After ricocheting off support at $0.35, its recovery journey has been remarkably consistent. The recent break above $0.45 and $0.5 opened the door for gains eyeing $0.65.

However, XRP might retreat to $0.5 before resuming the uptrend due to the overbought conditions, as shown by the RSI. Therefore, bulls must be keen to hold the price above $0.5 and secure the uptrend and thwart losses that could retest $0.45.

XRP/USD 4-hour chart

Bitcoin temporarily pauses the rally to highs above $50,000 following the gigantic spike from $38,000.

Ethereum is seeking higher support before resuming the battle for new record highs above $2,000.

Ripple sets for higher price levels following a steady recovery from the immediate support at $0.35. Support at $0.5 will play a key role in averting losses that may retest $0.45 and $0.35 anchor levels.

Goldman Sachs has resumed its crypto trading desk after three years of its launch and once again plans to support Bitcoin futures trading, a person familiar with the sources has said. The crypto service  offered by Goldman Sachs is said to resume in mid-March this month.

The New York-based bank originally announced plans for a cryptocurrency trading desk in 2018 but then quietly shelved them because of Bitcoin’s price plunge witnessed that year.

The news is highly important since it reflects how big names on Wall Street are turning to view crypto-assets as part of their daily operations.

The crypto desk, which will be part of Goldman’s US Global Market division, forms a wider push into digital assets that may see the bank offering contracts for other crypto-assets like Ether (ETH) in addition to offering Bitcoin.

As part of this initiative, Goldman Sachs is examining the potential for a Bitcoin exchange-traded fund and digital asset custody, the person familiar with the matter stated.

Futures are derivatives contracts that obligate purchasers to buy an asset at a predetermined future date and price. They are used both for speculation and for hedging against price swings and serve to increase liquidity in a given market.

Goldman’s announcement makes the cryptocurrency and other related derivatives attractive for investors willing to take riskier short or long positions as they hunt for yield in a low-interest-rate environment.

<strong style="mso-bidi-font-weight: normal;">Investors Riding the Bitcoin Wave

Bitcoin price has increased significantly over the previous year. While the crypto remains highly volatile, its value has climbed to $58,000 on February 21, then declined by as much as 25% but has recovered some lost ground. This indicates a mature market infrastructure for Bitcoin and other large crypto assets. Such developments have assisted in attracting more mainstream firms to the industry, ranging from those offering cryptocurrency services to institutional or retail investors to firms opting to hold Bitcoin on their balance sheets.