$40,100.

In addition, it’s key to note that the widely used crypto exchange, Coinbase is down at the time of writing this report.

What this means: After hitting a new all-time high of $40,100 a few hours ago, the price of the world’s most popular crypto sunk to approximately $36,500 at press time, a decline of nearly 7%.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina or email [email protected] He is a Member of the Chartered Financial Analyst Society.

Hi I’m lovelyn from Nigeria I want to know more about bitcion and I’m interested in d business thanks

Seem weird that your article fails to mention that it moved up $4,000 in the very same day just before eventually taking a $3,000 dip. Seems like an important detail. It’s now at $39,745.

The Office of the Comptroller of the Currency (OCC) has provided conditional approval to Anchorage Digital Bank.

The Office of the Comptroller of the Currency (OCC) has provided conditional approval to Anchorage Digital Bank National Association, the first federally chartered digital asset bank in history.

This development was revealed by the federally chartered crypto bank via its Twitter handle.

It tweeted, “Crypto deserves a bank, and we are immensely proud of being approved as the one to set the standard.”

Read the full announcement 👇👇https://t.co/0bvQHtCbCj

— Anchorage (@Anchorage) January 13, 2021

Having such a license places Anchorage Digital Bank firmly on the same regulatory footing as other American national banks in the country.

That said, the Crypto bank will be apple to offer unique services such as sub-custody services within reach for any traditional financial bank that wishes to offer customers access to Crypto assets.

Such a banking charter is the first seen in modern history, as the new Crypto bank continued that saying the banking charter will hinge upon unique requirements:

“As an enforceable condition of approval, the company entered into an operating agreement which sets forth, among other things, capital and liquidity requirements and the OCC’s risk management expectations.”

Ripple announced via a Job listing site it was looking to hire three central bank technical partner managers.

Ripple, a leading crypto fintech company, is going forward to bring the XRP Ledger to central banks.

Recently, Ripple announced via a job listing site that it was looking to hire three central bank technical partner managers – one for each of its offices in London, San Francisco, and New York.

Whoever fills those highly ranked positions will be mandated to design and deploy central bank digital currency (CBDC) projects.

READ: This is how Cryptocurrency works

Ripple also acknowledged that leading US banks could issue stablecoins on the XRP Ledger:

READ: Ripple’s XRP on a grand slam win, gains 20%

Recall that a powerful financial regulator, through the Comptroller of the Currency (OCC),  clarified details on American national banks’ and federal savings associations’ authority in taking part in using stablecoins to conduct payment activities and other bank-permissible functions.

What you should know: Stablecoins are cryptocurrencies created to minimize the price swings that occur in a crypto asset. They are usually pegged to fiat currencies and often exchange-traded commodities.

READ: Crypto owners robbed of 1,150,000 XRP

Stablecoins give owners a sense of security as users can store their assets whenever there is high volatility in the crypto-verse or other financial markets.

In terms of Bitcoin’s level of interest, Nigeria has been adjudged the highest performing nation worldwide.

Nigeria, Africa’s largest economy and home to over 200 million people, has the highest interest in Bitcoin globally.

According to a recent report released by Google, Nigeria emerged the first amongst other countries around the world in Bitcoin searches on Google.

READ: Africa’s internet economy has the potential to reach 5.2% of the continent’s GDP by 2025 – Goggle/IFC

READ: Computers might steal Satoshi Nakamoto’s Bitcoin fortune

READ: List of Cryptos outperforming Bitcoin, with weekly gains of over 100%

READ: Ethereum Miners earn a staggering $1 million in 1 hour

Unsurprisingly, a significant number of young Nigerians have started utilizing cryptos, in a bid to avoid the numerous challenges faced with the traditional money transfer services, such as high costs and slow speed, amongst others.

In an explanatory note to Nairametrics, Ekene Ojieh,  Head of Public Relations and Corporate Strategy at Buffalo Chase – a crypto analytic firm, gave key insights on how some Nigerians use cryptocurrency for wealth preservation.

READ: World Bank set to invest over $5 billion in drylands across 11 African countries

“Nigerians use bitcoin not just as a store of value but also as an investment. Its accessibility enables anyone to send and receive bitcoin from any part of the world, unlike getting US dollars for international transactions.

“It is worthy to note that bitcoin is still a volatile asset. The upside of this is that one can make a significant amount of profit in a short time frame,” said Ojieh.

READ: Why intelligent investors are secretly buying Bitcoin

Then, it becomes unsurprising to see leading crypto brands like Binance, FTX, Paxful, Crypto.com, printing their labels in Nigeria, as it is apparently one of the fastest-growing crypto markets in the ever-changing world.

investor. 

Like in the normal world, there is some lingo widely accepted in the crypto ecosystem. 

If you are a Reddit user, you have probably seen the tons of terms used by Reddit users to refer to Bitcoins and Ethereum. 

The rise of Bitcoins has led the investors to form an organized crypto ecosystem, and they only speak in these terms if they have to convey or send a message to fellow crypto users.

The term pump and dump mean buying and selling. This term is mainly used when an investor buys (pump) a ton of bitcoins when the price is low and sells (dump) when the price is excessively high. Users who follow this regularly are said to be ‘pumping and dumping.’

This term is a bit dramatic. Bagholder usually refers to the people who hold on to bitcoins after a severe market crash. This term is used to refer to investors who bought the bitcoins at an excessively high rate and missed the opportunity to sell them at the right time. 

In simple words, the investors are left with bitcoins that are worthless, but they are sure that the prices will rise. 

 Whales are what you call ‘bulls’ in the stock market. They are very wealthy and can move the market in no time; credit goes to their huge capitals. Whales hold ridiculous amounts of bitcoins. Cryptocurrency prices can be altered due to whales. 

HODL is undoubtedly the most famous crypto term. There is a funny context behind the invention of HODL. This crypto term originated when a drunk person was typing in the subreddit of Bitcoin and mistakenly spelled HODL instead of HOLD; since then, the term has gone viral. 

Investors often try to hold onto their investment when the market is volatile.

You may have got the idea of how this phrase is impactful here. This phrase is used by traders when the price of Bitcoins skyrockets to the moon. Many would say the prices of bitcoins ‘mooned’ the last year, which means the prices went up 10-15 times the prices they bought them for.

All other cryptocurrencies other than Bitcoins are called altcoins. ALT is the first three letters of the word alternative. Another term used to refer to cryptos that have no potential is Shitcoin. These coins do not have the potential for a price hike in the future, but the users keep holding on to them. 

ATH stands for All-Time High. The best price of a particular coin is referred to here. For instance, Bitcoins hit their all-time high in December 2017.

Shilling means the act of buying a particular coin and bragging about it to the public so that others invest in that coin, too; this is basically an attempt to pump its price.

Bullish means the price will rise in the future of this Cryptocurrency. It is done by amateur analysts; mostly, they don’t work. It is the cpomagazine.com of working in the crypto ecosystem.          

On the other hand, bearish is just the opposite of bullish; it is the prediction that soon the prices are going to crash.

Last but not least comes FUD, which is the abbreviation for Fear, Uncertainty, and Doubt. FUD is nothing but fake news and gossip spread by people in the crypto ecosystem who want the price of a certain coin to drop. 

For instance, you can say, “ABC is spreading FUD” a person spreading FUD is called FUDster.  

These were the top Ten Crypto Terms You Need To Be Aware Of In 2021. These terms are used by traders on a regular basis. Learning these terms as soon as possible helps you progress in the crypto ecosystem.    

trillion, Bitcoin’s valuation had surpassed financial behemoths such as JP Morgan, Goldman Sachs, and CitiBank, as of press time.

But while the entire crypto space is agog with the fact that big money is flowing into Bitcoin and prices are hitting new highs, no one is thinking about the other end of the scale. The inflow of “big money” comes at a cost.

Although it seems like Bitcoin is gaining mainstream adoption, one could argue that the recent events are merely an exodus from traditional finance. Most of the recent institutional participants look to Bitcoin as a viable store of value and an option to diversify their portfolio. This right here is a problem with institutional adoption.

The Bull Run of 2017 was primarily fuelled by retail investors. But this time with players larger than retail whales, this characteristic is eroding. Data reveals that 16.12% of Bitcoin’s current market cap is now being held by institutional investors. Furthermore, as reported by BTC PEERS, 78% of Bitcoin is now illiquid, with only $4.2 million worth of Bitcoin being in circulation for buying and selling.

Grayscale, for instance, has a Bitcoin trust that constitutes $16.3 billion out of its $19 billion assets under management. With Grayscale out of the picture, up to 7.52% of the bitcoin in circulation is being controlled by other institutions. Surprisingly, it took most of these giants only a quarter to accumulate this much.

At this pace, Bitcoin could reach $100,000 per coin. But one cannot deny the fact that these institutions like everyone else are in for the profits. A question no one is asking is what happens when an institution like Grayscale decides to take profits or de-risk their portfolio? This could spell mass dumping. A classic example of this is Bitcoin’s price dump in 2018 when Mt. Gox liquidated around $312 million worth of Bitcoin through a Japanese exchange – BitPoint.

If crypto regulations become unfavorable, there is no doubt that these players will quickly take profits. Ripple is a clear case study in this regard. A mass exodus of institutional players out of Bitcoin could mean the death of the digital currency.

over 50% dump within two days. XRP was consolidating above $0.50 prior to the lawsuit filing and fell to $0.25 post the announcement.

Many trade pundits called it a dead-end for XRP and believed that the token would practically become untradable owing to the security accusations made by the Security and Exchange Commission (SEC). Almost $346 million worth of XRP was moved yesterday by whales many predicting a pump to keep the market afloat, which is also one of the key accusations made against Ripple in the lawsuit.

The prediction about an incoming market pump did come true as XRP managed to rise by over 37% in the last 24 hours registering a daily high of $0.36. The crypto-token also lost its long-held third spot to Tether owing to the massive dump.

Another factor that might have played a part in the recent pump could be the relief offered by the SEC to crypto brokers and exchanges for listing and offering security tokens, offering them a form of immunity against regulatory clampdowns for the coming 5 years. Many crypto exchanges started delisting XRP tokens in the wake of the SEC lawsuit.  Hong-Kong-based OSL, a Fidelity-backed crypto platform was the first to terminate XRP trading services followed by Beaxy exchange, while Bitwise announced they have liquidated their XRP funds.

The cryptocurrency market regained most of its losses over the past couple of days to register a Christmas rally today. Bitcoin managed to climb above $23,500 again currently trading at $23,778 with a 2% price rise over the past 24 hours. Bitcoin consolidation above $23,000 has lasted longer than the entire bull rally back in 2017.

Etherum also claimed above $600 to register over 6% gains in the past 24 hours and currently trading at $617.53. Cardano made the second-highest gains after XRP, rising by over 12% seeing its price move above $0.15.

To keep track of DeFi updates in real time, check out our DeFi news feed Here.

and claims that everything is going according to the plan. At the same time, the FIL coin price fell just after the mainnet starting point and tried to correct it. What’s going on with Filecoin? Let’s make a quick overview of the Filecoin project and try to figure out its future. 

Protocol Labs from California, USA, announced the start of work on the Filecoin project back in 2014. Its main goal is to create a decentralized service for the distributed storage of various information. Within the project, a new communication protocol IPFS (InterPlanetary File System) was created, which was supposed to replace the outdated HTTP.

With their brainchild, the creators of Filecoin want to compete with giants such as Google, Amazon, or Dropbox in the storage space. Thus, developers create a distributed network for storing a wide variety of information of any size, be it a single file or huge databases.

During the testnet, there were Filecoin futures contracts on the coins from ICO. Their price was about $3-$10. After the mainnet launch, the price of Filecoin boosted up to $105. On the next day, this rate was reduced twice to $53. Meanwhile, Justin Sun accused the Filecoin team of dumping the price of the asset. 

According to Sun, the founders of Filecoin violated the agreement they signed with all investors in FIL under the SAFT concept. Juan Benet called San’s accusations a lie. According to him, the project team did not sell FIL. 

Benet referred to the Verge article and stated that the Tron Foundation head cheated to get profits. He calls the accusations against Protocol Labs an attempt to steal the success.

Filecoin Price by Nomics (A Crypto Market Cap Provider)

As we already told in the Filecoin review article, the FIL cryptocurrency ICO was bombing back in 2017. During this initial offering, $257 million were sold. $200 M of them were sold in the first hour of the presale. The ICO took place on the CoinList platform, which supposed to be used by confirmed USA residents only. There were many investors including Winklevoss Capital, Digital Currency Group, Andreessen Horowitz, Naval Ravikant, and Y Combinator. 

According to users’ technical analysis on Trading View, there are controversial opinions on Filecoin’s future. Some of the traders say that there are too much hype and FOMO on the FIL coin. People see the bearish trend on the Filecoin chart. So there are two scenarios of future activities: you can short FIL coin, or you can take an opportunity to buy Filecoin at a lower price and get profit in the future. 

Considering the numbers, the price predictions based on AI, such as Wallet Investor and Digital Coin Price, foretell the same figures. So, by the end of 2020, the FIL coin price will probably reach $60. Filecoin cryptocurrency might maintain its position until 2022 when it will go up to a hundred dollars. In 2023, the price can go down again to the point of $84. However, the FIL coin might reach the $150 price point by the end of 2025. 

The Filecoin project is up-and-coming. Here are just some of its benefits, which already guarantee half the success:

Miners are motivated enough because the reward has been increased to 25%. So the cryptocurrency is attractive both for ordinary users who want to use the services and those who are more interested directly in blockchain technology.

Register now at Publish0x to claim your $$$. It only takes 15 seconds and it's free.

d Extradition to US

Tackling Volatility Issues for Liquidity Providers with DeFi Yield Protocol (DYP)

Jack Dorsey’s Square and a16z Slam FinCEN’s Proposed Crypto Regulations

Why Warren Buffett’s Longtime Partner Is Wrong About Bitcoin (Opinion)

Crypto Asset Manager Grayscale Dumps XRP Amid Ripple-SEC Legal Fiasco

Bitcoin’s Killer Application: “Skin In The Game”

Litecoin progresses upwards. The daily low for the cryptocurrency was $126, while the 24-hour high was $149. At the time of writing, Litecoin was priced at $148. 

Out of the total 28 technical indicators of Litecoin, 14 are signaling to buy, nine are neutral, and five are sell indications. Eight of the oscillators are neutral, while two are sell indications, and one is at a buy indication. 13 of the moving averages are standing at buy indications with one neutral and three sell indications. 

A majority of the analysts appear to be suggesting a long price as they are expecting Litecoin to break its all-time high soon. Analyst Ayointeractive is expecting a break to the $180 level from the cryptocurrency in their Litecoin price prediction, even though it appears to be under some bearish pressures. The analyst is hoping that Litecoin will break its all-time high by the 25th of January.

As per the analyst, major corrections are normal in a bull run. The near 40 percent dump of Litecoin does not waver its strong upward trajectory, per the analyst. The cryptocurrency had been dumped out of a falling wedge formation during the corrections. Still, the analyst expects Litecoin to rejoin the falling wedge formation by the end of the week. The lower boundary of the falling wedge formation will act as major resistance, but Litecoin is expected to break the resistance. The major resistance levels of the Fibonacci retracement are $147, $152, $160, and $180, per the analyst. The RSI also appears to be picking momentum and will further help amplify the cryptocurrency’s bullish pressures. 

Analyst PF Abrik has identified an Adam and Eve formation in their Litecoin price prediction. The formation is bullish and hence indicates a bullish outlook for the future price action of the cryptocurrency. The Eve figure also indicates lesser price volatility, and Litecoin was previously dubbed as the relatively safer and stable cryptocurrency market. The formation’s neckline is at $145 – a strong resistance level – which the cryptocurrency has surpassed at the time of writing. The next major resistance level lies at $170. The analyst predicts that Litecoin will be on a straight sharp upward trajectory in the coming few days and can achieve a price level of $185. 

Analyst FXCM is bullish for the future of the cryptocurrency in their Litecoin price prediction. As per the analyst, Litecoin’s price action has been operating in an ascending channel formation and is soon approaching the major resistance level of $154. The price action at the resistance level will be crucial for Litecoin’s future as it will determine the upcoming journey of the cryptocurrency. If Litecoin successfully crosses the resistance level, then more bullish momentum can be expected from the cryptocurrency. However, there is an equal possibility of the cryptocurrency rejecting the resistance level. In that case, Litecoin can suffer from a sharp crash to around $123.  

native digital currency “DOT” recently surged to another level not seen since the network’s history, thereby raising DOT‘s market capitalization to a new level above Litecoin. 

Since December 2020, the cryptocurrency has been on a strong price momentum pushing up from $5.22 on December 28 to $9.1 on January 1, as seen in the chart below. 

It’s left to be seen whether Polkadot’s crypto will possibly surpass XRP, which recently faced a heavy dump amid the US SEC charges against Ripple, the blockchain company behind the crypto. 

Polkadot is an interoperability blockchain protocol founded by Gavin Wood, one of the founders of the leading blockchain network, Ethereum. Since the mainnet was released in May 2020, the native cryptocurrency has grown steadily and ranked as the seventh-largest digital currency by market capitalization on September 8. Its blockchain has attracted many developers building on it, including projects like KILT and Moonbeam, which is reportedly working on scalable smart contracts. 

As recently as December 8, Huobi invested $5 million to support the Polkadot ecosystem. 

price, but it will not affect global finance” Written by: The Economist Compiled by: Houlang Finance

In 2013, when the price of Bitcoin first soared to around $1,000, it created a cryptocurrency millionaire. After that, the market overheated and caused a bubble, which made some early fans despair at the time.

A downturned man in Wales was looking for early discarded hard drives in the garbage dump because it contained 7,500 accidentally discarded bitcoins. The value of these bitcoins increased from zero to $7.5 million. Since then, Bitcoin has been rising frantically. Driven by speculators and market manipulation, its price soared to around $19,000 in December 2017, but fell by more than four-fifths in the following year .

The recent rise in Bitcoin is by far the most glorious period. After three-months has tripled, the price has now exceeded $35,000. In other words, lying in the Newport garbage dump in Wales is a piece of computer hardware worth more than $2.6 billion.

The current market’s enthusiasm for Bitcoin is amazing, because the liberals living in the basement are not the only ones who are hyping Bitcoin. Some elites on Wall Street have joined them.

For example, Larry Fink, the manager of the Blackstone Group, the world’s largest asset management company, stated in December that Bitcoin could become a new “global market.” Renaissance hedge fund Renaissance Technologies and other large hedge funds have been betting on cryptocurrencies. Ruchi Sharma, a strategist at Morgan Stanley, believes that the rising US debt will make cryptocurrencies more attractive.

If the total Canadian dollar is narrowly defined as including banknotes and central bank reserves, the total value of issued bitcoin exceeds the Canadian dollar. However, few people think that it has any chance to replace the currency issued by the government. This is just the dream of the early believers.

For example, it is too inefficient to be used for payment; Bitcoin can only process less than ten transactions per second. In contrast, the underlying payment companies of consumer finance, such as Alipay and Venmo, can solve these problems. If Bitcoin can solve this problem, the government will quickly ban any technology that can threaten its monetary sovereignty. Regulatory resistance has forced Facebook’s proposed digital currency Libra to be renamed (changed to Diem) and reduce Libra’s original ambitions.

At the same time, as central banks improve payment systems and launch their own digital currencies, the competition between national digital currencies and Bitcoin is also heating up.

Instead, Bitcoin’s enthusiasm is rooted in the possibility that it may eventually provide a secure store of value—just like gold, but more convenient (because maintaining a digital wallet is easier than maintaining a physical vault). It will occupy a small but permanent part of the investor’s portfolio.

Like Bitcoin, gold has no interest or dividends. In contrast, Bitcoin is different in that gold has basic uses. It is investors’ fluctuating demand for gold that drives gold prices, not jewelers and chip manufacturers.

Therefore, it is conceivable that the high price of Bitcoin can also be self-sustained by demand. If Bitcoin can be as popular as gold by investors (position market value), according to JPMorgan Chase Bank calculations, the price of Bitcoin will rise to US$146,000. Compared to gold, millennial investors in the current market seem to prefer to invest in cryptocurrencies.

There are many reasons to doubt whether Bitcoin can become gold.

Its price is highly volatile and changes with the fluctuation of the stock market. It is almost undesirable to use Bitcoin as a safe haven asset, because the market lacks liquidity and cryptocurrency trading is still unregulated. In the market, fraud and theft are rampant, Bitcoin provides convenience for online drug sales and other crimes. Investors of cryptocurrencies must tolerate large investment and reputational risks. Hedge funds that thrive on risky investments may be swarming in, but some established Wall Street financial institutions, such as pension funds, remain indifferent.

Perhaps it is the wrong view to think that the rise of Bitcoin is out of control. Eventually, Bitcoin will reach a settlement with regulators, there will be more liquid transactions and suppression of criminal activities (the anonymity of Bitcoin is a bit overestimated), so that Bitcoin will have a wider appeal.

At the very beginning, Bitcoin was given the hope of subverting the global monetary system. Today, its success depends on whether it can find a more balanced role in the existing financial system.

verge of 2021. 

The firm allows its clients to get exposure to cryptocurrencies via a family of ten products. The Grayscale Bitcoin Trust (GBTC) accounts for the vast majority of all inflows with a total of $17.5 billion. Its similar offerings for Ethereum comes in a distant second place with $2.17 billion.

Both of its two biggest trusts are U.S. Securities and Exchange Commission reporting companies.  

Earlier this weeks, there were numerous reports about Grayscale allegedly dumping its XRP holdings following SEC's lawsuit against Ripple. In reality, the decline in the dollar value of its position was actually attributed to the token's 73 percent rout over the past two weeks.    However, Bitwise, another top crypto asset manager, was quick to liquidate $9.3 million worth of XRP right after the SEC sued Ripple.

Grayscale only had $2 billion in assets under management a year ago, as noted by Silbert in a celebratory tweet.    

It took the firm — whose clients are mainly institutional investors — less than two months to go from $10 billion in mid-November to $20 billion by the end of December.          Earlier this month, JPMorgan's strategists warned that a major slowdown in inflows could spell trouble for Bitcoin's bull run, but institutional interest in Bitcoin seems to be not even close to waning.      

In the meantime, $49 billion investment management firm VanEck has once again filed papers with the SEC in at attempt to gets its Bitcoin ETF proposal approved.    

analytics firm Santiment, this is a very bullish indicator for the cryptocurrency. Santiment explained:

“#Bitcoin's number of whale addresses with at least 1,000 $BTC has reached an #AllTimeHigh of 2,323 with Tuesday's market close 45 minutes ago. There may not be a more notable bullish metric than one pointing to growing holders with $33.7M+ on the line.”

Santiment further noted that for Bitcoin and Ethereum holders, mid-tier holders are currently taking major profits, while BTC and ETH whales are not. Santiment noted:

“For both $BTC and $ETH, the story is simple: Mid-tier holders are taking major profits, but top-tier whales are not. And in #crypto, it's a whale's playground. Since last week: Chart with upwards trend 57 new 1,000+ $BTC addresses made. Chart with upwards trend 17 new 10,000+ $ETH addresses made.”

“#Bitcoin surged past both $20k and $30k in just the past 3 weeks, an obviously historic achievement. What's one of the key drivers? None other than #crypto's largest stablecoin, #Tether! Market players are borrowing $USDT to ride $BTC.”

Major crypto assets, including Bitcoin, Ethereum and most altcoins have been seen trading in a healthy bullish range as a lot of cryptocurrencies are gradually moving off exchanges. This is another bullish sign for the crypto market.

A cryptocurrency trader recently noted how bullish the Bitcoin market was, by saying, “We had a 20% dump and couldn't even turn the 3 day candle red. #Bitcoin.”

a feat achieved spectacularly in less than a month.

At the time of writing (Jan 11), the path of least resistance is still upwards. Trading at $35.5, the BTC/USD price is bullish, gaining seven percent in the last week of trading. Therefore, albeit the contraction, buyers are in the upper hand.

Confirming this is the decent participation level and dominance of the digital gold.

The average daily trading volume is up 38 percent on the last day to $74.5 billion, hinting at trader participation that may drive prices two-ways: Either higher to above $42k or lower back to $30k in profit-taking.

The path of least resistance, despite the current dump, is still northwards. Propping Bitcoin bulls are solid fundamentals, including favorable on-chain metrics.

The Bitcoin price posted a new all-time high of around $42k.

Accordingly, this is an important reaction point for swing traders in the immediate term. On the flip side, last week’s trade range will determine the short-term trajectory depending on if bulls succeed or sellers take over.

As of writing-Jan 11, the BTC/USD price is oscillating within a $14k range with lows at around $28k.

In an uptrend, immediate reaction points for Bitcoin bulls—determining the short-term trend, will be at $42k and $28k—levels to watch out for.

Bitcoin is one of the largest transactional platforms in the world.

Supporters say in the mid of censorship by Facebook, Twitter, and Google, the network is the only true haven.

1. Twitter, Google, Apple, Facebook, etc. are trusted third parties. 2. Trusted third parties are security holes. 3. Bitcoin doesn't require a trusted third party.

— Jimmy Song (송재준) (@jimmysong) January 10, 2021

For people seeking to control and flexibility, the reliability of the network is unmatched.

— Tyler Winklevoss (@tyler) January 10, 2021

The Bitcoin network is now worth more than Facebook and some of the world’s leading banks:

Over the next decade, decentralized blockchain-based services will provide morally, technically, and financially superior alternatives to American & Chinese tech companies alike.

Rest of World FTW. https://t.co/9QnXi1CVsF

— balajis.com (@balajis) January 10, 2021

Despite its mega-valuation and parabolic rise in the last few months, some analysts are calling it tops. They cite activity by miners.

According to Byte Tree, miners have been consistently dumping their holdings since December. However, the strong institutional buying power kept soaking their liquidation.

Based on this data, Ki-Young Ju predicted prices to fall:

I'm going to punt a small short to scalp $BTC in this short-term bearish market.

Chart 👉 https://t.co/RbSJ9xbC56 pic.twitter.com/7RbQN7BgwW

— Ki Young Ju 주기영 (@ki_young_ju) January 10, 2021

The Bitcoin price is still bullish but down over $7k from its all-time high. However, for buyers to be in charge, a break above $42k is essential.

The 4-HR chart shows that the BTC/USD has been recoiling from $42k, trending lower with relatively high trading volumes.

Based on last week’s price action, the support zone is between $34.5k and $30k. These levels flash with the 50 and 78.6 percent Fibonacci retracement lines.

Accordingly, if bears press lower, confirming Jan 10 losses, risk-averse traders may find an opportunity to unload on every high with targets at $30k or $28k—the 78.6 percent Fibonacci level and last week’s lows, respectively.

On the flip side, if prices steady and gains above $42k, buyers can aim at $50k—the 2.68 Fibonacci extension level of the 2018 to 2020 trade range.

Chart courtesy of Trading View

Disclaimer: Opinions expressed are not investment advice. Do your research.

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fund in September 2019, after suffering several refusals from the SEC.

The ETF is a listed financial instrument that replicates the behavior of one or more financial assets. For now, the SEC has consistently refused requests from fund managers to set up a Bitcoin ETF.

The reason behind these refusals? The Bitcoin market would still be “too manipulated“. From a pragmatic point of view, of course that the market is manipulated in the classic sense of the term, the market not being strictly speaking regulated. The practices of pump and dump, of wash trading or even spoofing are indeed present in this market and their occurrences are fully documented.

The success of the request is therefore closely linked to the proposals that VanEck has made to overcome this problem. The proposed solution would be to use the price of Bitcoin from several exchanges, via the services of CryptoComprate, to determine a fair value of the asset. This solution could make it possible to counter the biggest excesses of whales holding a lot of bitcoins and seeking to violently liquidate large positions, but for the rest it necessarily seems insufficient. This argument alone is therefore unlikely to convince the SEC.

In addition, the SEC is in a period of transition with the resignation of Jay Clayton, at its head for several years, and the arrival of the Biden administration which could be more favorable to the development of the crypto ecosystem in the United States (or not, of course).

If the request is successful, the ETF will be traded on the CBOE BZX exchange under the name VanEck Bitcoin Trust. While US investors wait, the closest thing to an ETF right now is the Grayscale Bitcoin Trust. This type of fund is a pooling of large sums of money for the purpose of buying bitcoins. However, this type of asset is not easily accessible to small investors, since it is limited to the famous “qualified investors” on US soil.

Sunday post how he converted his 80,000 Moon reward to Bitcoin earlier this year. The value of his holdings has risen with the new Bitcoin price pump. He said that:

U/Cryptorich13 claims to have dumped its 80,000 Moon for Dai at an average price of $0.08 to $0.13 per token over a 24-hour period at the end of September. From there, he converted the Dai to Bitcoin. The whole process was recorded on the Warosu Image Board.

When the initial Reddit post was released, his Bitcoin stash was worth $23,736, based on the BTC price of $25,800. In a later edit, his BTC 0.92 was worth $25,576.

At the time of publishing, Moon was worth around $0.01, down 15 percent on the day, according to CoinGecko. It should be noted that the CoinGecko data feed monitors Moon values from late-October.

Reddit’s Moon token is the official cryptocurrency of the R/Cryptocurrency subreddit, a forum devoted to news, debate and review of everything related to digital assets. The token rewards active users for their contributions to the sub-reddit. According to the Community Guidelines, all sub-reddit posts need to be crypto-related or affiliated with culture in some way or manner.

Moon is part of Reddit Community Points, or RCP, a rewards programme that was launched earlier this year to promote the development of content on the social network. RCPs are Ethereum-based tokens which are interoperable with all other Ethereum applications.

To date, a cryptocurrency has only been released by another subreddit via the RCP application. The R/FortNiteBR subreddit launched the Brick token earlier this year to thank users for their contribution to the site.

a popular social media trader summarized on the day.

Bitcoin also beat the market cap of Chinese giant Tencent and briefly passed “darling” tech firm Tesla as it rose to $41,000 per coin.

Data from CoinMarketCap and Companies Market Cap confirmed that on Jan. 7 Bitcoin almost entered the top five companies by market cap.

As BTC/USD crossed the $40,000 mark, Bitcoin’s market cap grew to unprecedented levels, topping out at $745 billion. A day later, following a correction, the figure retreated to $737 billion before regaining its earlier record.

At the same time, Tesla delivered a swift 7.3% daily gain, allowing it to outpace Bitcoin once again after losing its market cap prowess to the cryptocurrency for a short period. On Friday, the company was on $773 billion as Bitcoin once again sailed through $40,000.

A more decisive victory came over Chinese tech giant Tencent, however, which at $716 billion firmly bowed to Bitcoin’s momentum. Previously, Tencent was also worth more than Tesla.

“There are still companies in the world that are worth more than #Bitcoin. Crazy,” Tyler Winklevoss, co-founder of Gemini exchange, commented on the phenomenon.

Credit: Cointelegraph