Connect with us

Blockchain

Career Trader Subtly Hints Of Bitcoin Parabola Breakdown With Fractal Diagram

Bitcoin has fallen below $35,000, and while given the asset’s recent highs sounds like a sizable correction, the price per BTC is still nearly 1000% higher than where it was less than one year ago. After such extreme moves to the upside, often come crashes that eliminate much of the progress made, until the parabola starts […]

Avatar

Published

on

Bitcoin has fallen below $35,000, and while given the asset’s recent highs sounds like a sizable correction, the price per BTC is still nearly 1000% higher than where it was less than one year ago. After such extreme moves to the upside, often come crashes that eliminate much of the progress made, until the parabola starts all over again.

Career trader Peter Brandt has shared a chart that subtly hints that the recent Bitcoin price parabola could begin to break down. The last time he did so, he accurately called an 80% decline in price. Here’s a look at what might come next if that’s the case.

Paying Attention To Peter Brandt Costs Nothing, Pays Out In Profits

Peter Brandt is a living legend, spending an entire career professionally trading commodities, stocks, and more recently, cryptocurrency. Brandt has long been interested in Bitcoin, has shared his commentary about the market and related price action via his Twitter, and has contributed to the Bitcoin.Live platform.

Because of Brandt’s reputation and experience level, when he speaks, it tends to be worth paying attention to. Those who wisely took profit during the last major Bitcoin rally after the trader claimed the parabola was violated, would have even been given almost the exact target to which the cryptocurrency fell to nearly a year later.

Related Reading | Proper Altcoin Season While Bitcoin Drops Has Traders “Cautious”

The trader famously called for an 80% or more retrace following the 2017 peak of $20,000. In 2018, Bitcoin traded at $3,200. Brandt nailed it, and now he’s back at it again.

bitcoin peter brandt career trader crypto parabolaPeter Brandt calls attention to the current rally resembling this previous parabola breakdown | Source: BTCUSD on TradingView.com

Brandt Brings Up Painful Reminder Of Past Bitcoin Parabola Broken

Brandt points out the last time he shared a price chart exhibiting a Bitcoin parabolic curve, just before the » Read more

” href=”https://www.newsbtc.com/dictionary/bear/” data-wpel-link=”internal”>bear market took hold.

In the image, originally shared on January 8, 2018, a “bump, hump, lump, and dump” repeating pattern shows each parabolic base, just before the breakdown and resulting downtrend that follows. The chart above compares the rally Brandt references alongside the current parabolic rally.

Related Reading | The Striking Similarities Between The 2017 Bitcoin Peak And Now

Price patterns and even ranges appear to line up eerily accurately, with the primary discrepancy being the Black Thursday pandemic-driven panic selloff. Aside from that, the similarities are striking.

Repeating price patterns like this are called fractals. If what follows this near flawless fractal is also similar, the chart below would demonstrate what comes next.

bitcoin peter brandt career trader crypto parabola

Here's what happened after the parabola breakdown | Source: BTCUSD on TradingView.com

Remember, Brandt called for an 80% correction of the parabolic move, and was correct. And while he hasn’t brought up that dangerous data point since back then, even the short-lived parabolic phase in 2019 ultimately corrected over 70%.

However, any downside is contingent upon the current parabola breaking down, and the new “hump, slump, pump, and dump” pattern failing to repeat.

Featured image from Deposit Photos, Charts from TradingView.com

Source: https://www.newsbtc.com/analysis/btc/career-trader-subtly-hints-of-bitcoin-parabola-breakdown-with-fractal-diagram/

Blockchain

U.S. House of Representatives to Create Crypto Task Force Joining SEC and CFTC Members

Avatar

Published

on

The US House of Representatives passed a bill dubbed “Eliminate Barrier to Innovation Act of 2021” (H.R. 1602). The bill aims to create an entity predominantly made up of employees from two regulatory bodies, the US Securities and Exchange Commission (SEC) and the Commodities and Futures Trading Commission (CFTC), with the goal of overseeing cryptocurrencies together.

It has currently made its way to the Senate for approval, and if passed by the Senate, the bill will therefore effectively establish a digital asset working task force.

The bill is co-sponsored by Majority Leader Patrick McHenry (R-NC) from the House Financial Services Committee and Chairman Stephen Lynch (D-MA) of the FinTech Task Force. Republican leader McHenry said:

“What we need is a conversation between those two entities (SEC and CFTC) about the nature of digital assets and cryptocurrencies.”

McHenry remarked that often, with each agency separately ruling cryptocurrencies as either securities or commodities, a huge regulatory gap is often left for this emerging asset class, which is problematic and can be a hindrance to innovation. “American citizens are missing out on innovation and the upside of those innovations. This one of the few pieces of tech in the last 100 years that the U.S. has not been the drivers of,” remarked McHenry.

If passed by President Biden, the bill will be one of its kind, as a crypto-focused task force has yet to be erected in the United States.

In addition to being made up of SEC and CFTC members, the task force will also include at least one representative from each of these six categories, according to Forbes: Financial technology companies providing digital assets; Financial firms under the jurisdiction of the SEC or CFTC; Institutions or organizations engaged in academic research or advocacy on digital assets; small businesses engaged in financial technology; investor protection organizations, and institutions and organizations that support investment in historically-underserved businesses.

The crypto-centered task force will need to assemble a report on the regulatory frameworks for digital assets, and assess how a lack of regulatory clarity for cryptocurrencies has impacted primary and secondary markets. Additionally, the task force will need to measure the regulatory framework for cryptocurrencies established in the US against that established in other countries.

The crypto task force will then need to provide recommendations on how to improve the situations of digital asset markets as well as establish strategies to reduce fraud and cash manipulation. it would also need to evaluate whether digital assets are compliant with the Bank Secrecy Act policies. The report will then be sent to House and Senate Committees, as well as the SEC and the CFTC to help them in making regulatory decisions regarding crypto.

Safe Harbor proposal for crypto  

Currently, with the cryptocurrency market estimated at over $2 trillion dollars, many financial and banking institutions worldwide have re-evaluated the potential of this nascent asset class. Recently, SEC Commissioner Hester Peirce, also known as ‘Crypto Mom’ for her active and welcoming stance regarding blockchain technology and crypto, released a safe harbor proposal designed to accommodate and encourage digital innovation.

The proposal suggests a three-year “grace period” where blockchain developers will be allowed to prove the extent to which the network they built is decentralized. Additionally, this will enable a more careful approach in considering whether their proposed token offering is in violation of US securities laws.

China ramps up CBDC efforts

This is a step forward and may be beneficial for the crypto economy to thrive in the US. Although many US-based firms have scrambled to enable cryptocurrency payments and integrate them into their business model, their deployment of digital payments still appear delayed in comparison with China.

Recently, China appears to have sped up the pilot phase of its digital yuan. On behalf of the People’s Bank of China, deputy governor Li Bo revealed that the country’s proposed central bank digital currency (CBDC), dubbed the “digital currency electronic payment (DCEP),” will be made available at the 2022 Beijing Winter Olympics as part of its pilot phase.

The deputy governor has mentioned that China’s goal with the DCEP is not to “replace the US dollar or any other international currency,” but to “allow the market to choose.”

Image source: Shutterstock Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://Blockchain.News/news/us-house-representatives-create-crypto-task-force-joining-sec-cftc-members

Continue Reading

Blockchain

Which crypto exchange platform is faster, coin transfer or Godex?

Avatar

Published

on

The coin transfer exchange works in a semi-automatic mode. The exchange takes place from morning to evening with the participation of the operator. All switching processes are carried out with the help of a support person. This way of working has its advantages.
A lot of people these days use automatic exchanges because it’s quick and easy. However, a semi-automatic service offers the possibility of a safe change.
This option is particularly recommended for beginners who do not yet know how to correctly fill in the fields in trades, how to find out the amount of the commission and when to complete the operation.
Most important steps in currency exchange
The change works in 3 steps:

Step 1: Select a currency pair to swap in the cryptocurrency converter. Check the box that you agree to the tariff, service fees, and fees for the cryptocurrency network.
• Step 2: Fill out the exchange form and check the entered data, as in most cases cryptocurrency transactions cannot be canceled.
• Step 3: Send the amount specified in the application to the address provided by the exchange operator and receive the cryptocurrency on your wallet within 5-30 minutes.
Cointransfer has been active since 2016 and offers 219 currency pairs.
The swap board has over 1,760 reviews, most of which are positive. If you have already changed the currency on this service, you can leave your feedback and add to the collection of comments on this exchange service.
Godex
The Godex crypto exchange is an excellent example of a website that allows you to exchange one type of cryptocurrency for another online. Dynamic price changes, complete absence of transaction limits (the transaction time can increase with large amounts), a clear user interface – everything is done here to ensure that investors feel comfortable. There is also a dedicated affiliate loyalty program so you can get a quick entry into the cryptocurrency market. It is time to look into the subject of such an investment.
You should understand right away that it is impossible to completely eliminate the risks involved in buying a cryptocurrency. Even most stable coins can lead to a complete loss of the money invested; even if the likelihood of such a course of events is extremely low. Only after you have considered all the advantages and disadvantages of each model, familiarized yourself with the market indicators over a period of time and analyzed the opinions of experts, should you make an informed decision.
When you are ready to buy cryptocurrency, you should do so strictly in accordance with certain rules. Investments need to be planned and made wisely. Creating a wallet with an address is necessary and does not take much time. You can buy the cryptocurrency you are interested in after registering with a specialized exchange – just select a popular currency to buy. After buying, many advise transferring the coins to offline storage to eliminate the possibility of hacking and theft of investments. By investing in one with a view to market capitalization, the risks of a currency can be significantly reduced. The three cryptocurrencies that currently meet these requirements are:
Bitcoin;
Ethereum;
Litecoin.
Godex.io currently serves thousands of customers with over 10,000 transactions daily. So if you are looking to swap one coin for another, you should try Godex.io and enjoy fast transactions at good exchange rates.

Continue Reading

Blockchain

Maker Hits a New All-Time High Close to the $5,000 Mark

Avatar

Published

on

Maker is the first Ethereum-based smart contract system to launch an automated cryptocurrency lending platform. 

Maker provides the first decentralized basic stable currency Dai (which can be compared and analyzed as the U.S. dollar on Ethereum) and a derivative financial system, promoting the prosperity of decentralized finance (DeFi).

Dai is issued through a full mortgage guarantee of digital assets. Since its launch in 2017, Dai has always remained anchored to the U.S. dollar with a 1:1 ratio.

On April 19, members of the MakerDAO community began to vote on MIP45, a proposal aimed at upgrading the liquidation system of the Maker protocol and maintaining the stability of Dai pegged to the U.S. dollar.

If approved, the liquidation 2.0 system will provide higher security, predictability, and decentralization, and provide community members with more opportunities to participate in collateral auctions through Auction Keeper software and a more conventional interface. This will promote the participation of the Maker community and the entire DeFi department.

According to data from DeFi Pulse, Maker, the largest DeFi agreement with system collateral of $965 million, dominates 16.44% of the entire DeFi market.

The holders of the Maker (MKR) tokens of the project have received a 64.23% price increase reward in the past week. According to CoinMarketCap, Maker with a market cap of $4,817,105,553, ranks as the 30th largest cryptocurrency.

The token has grown nearly eight-fold since the beginning of this year, rising from $587 to $4,652,  It hit a record high of $4,995 today, breaking the $4,500 marks in one clean swoop.

Maker (MKR) Price Analysis

Source: MKR/USD 4-hour via TradingView

Judging from the 4-hour candlestick chart, MKR has successfully broken through its previous high of $4,118, and the rapidly expanding trading volume has resulted in $4,118 being flipped from a resistance to a support level.

The transaction price of MKR/USD is higher than the Exponential Moving Average (EMA) ribbon. Both the upward moving average and the bullish MACD index indicate that the bulls are currently dominating the market.

However, the Relative Strength Index stepping into the overbought zone is gradually levelling off, which suggests that MKR is encountering relatively strong selling pressure after touching its all-time high of $4,995 today. The MKR’s price will therefore experience a slight retracement, and it is likely to trade sideways for a period of time around $4,400-$4,600 before resuming its upward momentum.

If MKR’s price can stabilize above $4,200, then the upward trend of Maker may open a faster upward channel. As Maker hit a new high, this will mean that the altcoin will not encounter strong selling pressure on its way up. If the entire crypto market emerges from its current slump, it is highly likely that Maker breaks through $5,500 in the short term.

Conversely, a surge in the number of sell orders will push MKR below the $4118 support level and may trigger a more severe correction to the 20-day Exponential Moving Average of $3,795.

Image source: Shutterstock Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://Blockchain.News/analysis/maker-hits-new-all-time-high-close-5000-mark

Continue Reading

Blockchain

Bitkingz Casino Exclusive Bonus

Bitkingz casino is a crypto and fiat casino. The casino offers over 4000 casino games. Online… read more

The post Bitkingz Casino Exclusive Bonus appeared first on BitcoinChaser.

Avatar

Published

on

Bitcoin Chaser – April 22, 2021

Bitkingz Casino Exclusive Bonus

Bitkingz casino is a crypto and fiat casino. The casino offers over 4000 casino games. Online slots are the most popular vertical, and you’ll find offerings from providers such as BGaming, Betsoft, Endorphina, Playtech, and Yggdrasil. 

Bitkingz has a mobile version available on most devices, and it is licensed and registered by the government of Curacao. Are you looking to get more bang for your buck? Well look no further! Head over to Bitkingz Casino for a BitcoinChaser exclusive promotion. 

Players will get 20 free spins on sign up to get them started. This red hot promotion is then followed by a 150% first deposit bonus up to €350 with 50 free spins!

Bitkingz offers 24/7 online support and a cast array of tournaments and promotions. Dive into Bitkingz Casino today and get the most out of your gambling experience! 

Want to learn more about Bitkingz? Check out our Bitkingz casino review.

Visit Bitkingz

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinchaser.com/bitkingz-exclusive-bonus/

Continue Reading
Aviation12 mins ago

Istanbul Sets A Goal Of Becoming A Child Friendly Airport

Aviation1 hour ago

Why Did A TUI Boeing 737 MAX Divert To Doha Airport?

Aviation2 hours ago

Goodbye Kitty! EVA Air Set To Repaint Hello Kitty Boeing 777

Payments3 hours ago

Alt Lending Week ended 23rd April 2021

HRTech3 hours ago

PizzaExpress to hire 1,000

Aviation3 hours ago

India Joins England Red List Meaning Direct Flights Banned

Blockchain3 hours ago

U.S. House of Representatives to Create Crypto Task Force Joining SEC and CFTC Members

Esports4 hours ago

Teamfight Tactics Set 5:Reckoning 11.9 PBE Patch Notes

Esports4 hours ago

Dallas Empire benches Huke, promotes FeLo to starting roster

Esports4 hours ago

The Fighting Game Community Vs COVID-19: A New Underdog Story

Energy5 hours ago

Gotion High-Tech veröffentlicht Jahresergebnisse 2020

Esports5 hours ago

Luminous Legends X and Y, bug fixes, and more found in Pokémon Go version 0.205.1 datamine

Aviation5 hours ago

Boeing Is Working On A Solution For Grounded 737 MAX Jets

Esports6 hours ago

Niantic will run makeup dates for Shadow Zapdos, offer free items for Team Go Rocket bug

Esports6 hours ago

Tyler1 reacts to Riot’s plan for punishing players for dodging in ranked League

Esports7 hours ago

Save Points, Choppa reportedly coming to Fortnite creative update v16.30

Aviation7 hours ago

Delta Air Lines Orders 25 More Airbus A321neos

Esports7 hours ago

Oxygen Esports secure first in NAL Stage One with victory over beastcoast

Energy7 hours ago

EPRI CEO: U.S. Must Triple the Rate of Energy-Related Carbon Reduction to Achieve 2030 Goal

Esports7 hours ago

New Pokémon Sword and Shield Max Raid Battle event focuses Eiscue

Covid197 hours ago

UC And Cal State Systems To Require COVID-19 Vaccinations For In-Person Fall Classes

Esports7 hours ago

How to complete all Hunt for Adler intel challenges in Call of Duty: Warzone Season 3

Cyber Security8 hours ago

IOTW: Microsoft Exchange, The FBI & A Lack Of Patching

Energy8 hours ago

Commercial Water Treatment Equipment Market to Accelerate at a CAGR of Almost 5% During 2021-2025|Technavio

Aviation8 hours ago

Emirates Schedules A380 Return To New York JFK In June

Covid199 hours ago

People With Severe COVID-19 Have Higher Risk Of Long-Term Effects, Study Finds

Brazil
Esports9 hours ago

TeamOne bench skullz

Esports9 hours ago

Respawn Entertainment Confirms L-Star Changes

Energy9 hours ago

Anionic Surfactants Market to Grow by USD 5.95 Billion and Record a CAGR of Over 5% During 2021-2025|Technavio

Esports9 hours ago

Hunt for Adler Event Now Live

Trending