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QNT Technical Analysis: Trend Reversal Possible with Current Uptrend at $79.30

QNT price is trading below the Fibonacci pivot point of $79.50. If the bears remain strong till day end, then the price is likely to fall below the first, second, and third support levels of $78.6, $77.65, and $75.70 respectively.

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Quant was developed to bridge the gap between use cases of different blockchains. It aims to not reduce the efficiency and interoperability of the network. Quant works as an operating system (OS). This operating system is built as OS distributed ledger technology. Let us look at the technical analysis of QNT.

Past Performance

On July 03, 2021, QNT opened at $74.78. On July 09, 2021, QNT closed at $77.38. Thus, in the past week, the QNT price has increased by approximately 4.34%. In the last 24 hours, QNT has traded between $74.35 – $80.86.

https://d229noksprj98s.cloudfront.net/wp-content/uploads/2021/07/qnt-technical-analysis-trend-reversal-possible-with-current-uptrend-at-79-30.png

https://www.tradingview.com/x/Gh0eG8qx/

Day-Ahead and Tomorrow

Currently, QNT is trading at $79.30. The price has increased from the day’s opening price of $77.11. Thus, the market seems bullish for the day.

READ  Trading Bitcoin – $1k Drop! Has Weekly 9 Sell Earned Respect Yet?

On the hourly chart, the MACD and signal lines have entered the positive zone. However, if the selling pressure continues, we might see a bearish crossover by the MACD line over the Signal line. But, the overall market momentum seems bearish, so we might see a small pullback in the price for some hours. Also, we have to see that the QNT price does not break down from the trend line.

Currently, the RSI indicator on the hourly chart is at 57.12%. It faced rejection at 69% and fell to this level. Thus, sellers are dominating the current market. We have to wait and watch if selling pressures become strong enough to bring about a trend reversal.

In short, when we look at both oscillators, we can say that the price may continue to rise for a few hours. However, we cannot rule out the possibility of a trend reversal. We have to wait and watch to see if an intermittent price rise is a corrective action or the beginning of a positive trend.

READ  Bitcoin Breaks $9,300 as US Stock Market Sees Minor Downturn

QNT Technical Analysis

Currently, the price is trading below the Fibonacci pivot point of $79.50. If the bears remain strong till day end, then the price is likely to fall below the first, second, and third support levels of $78.6, $77.65, and $75.70, respectively.

#QNT #QUANT

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Source: https://www.cryptoknowmics.com/news/qnt-technical-analysis-trend-reversal-possible-with-current-uptrend-at-79-30

Blockchain

Bitcoin Needs Rules That Allow Innovation: Sen Cynthia Lummis

In an interview with Fox News show “Varney & Co”, Republican senator and longtime Bitcoin advocate Cynthia Lummis shared her views on crypto regulation.

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In an interview with Fox News show “Varney & Co”, Republican senator and longtime Bitcoin advocate Cynthia Lummis shared her views on crypto regulation. Shortly after, the politician linked the interview to a tweet, where she asserted that massive government spending in the pandemic has accelerated the adoption of digital assets.

Cynthia Lummis Demands a Regulatory Sandbox for Bitcoin

During her cable TV appearance, Lummis emphasized that any regulations for cryptocurrencies should be accompanied by “good solid definitions.” She said that the end result of this process should be a “regulatory sandbox” that allows innovation to continue. 

The senator also expressed her own interest in Bitcoin as a store of value and highlighted that regulators must ensure that the currency remains instrumental for this purpose. But she pointed out that if the US were to approach the flagship crypto as a legal tender, like El Salvador, then the asset must comply with the bank secrecy act and anti-money laundering laws. 

“We want to make sure that it is used legitimately and that it can be ferreted out when it’s used nefariously,” she said.

Lummis also outlined her support for the crypto miners banned by China transitioning to the country. “We wanna make sure that these miners coming to the US from China…can come to places like Pennsylvania, Texas, Wyoming, and elsewhere. Where they can get the energy to mine it and then once it’s produced that it can be on the blockchain in a way that enhances the non-fiat currency advantages that cryptocurrency has,” she told Fox host Stuart Varney.

Government Spending Leading to a “Flight to Digital Assets”

Unlike some Bitcoin maximalists who favor “hyperbitcoinization”, senator Lummis is a strong supporter of the USD as a reserve currency. Following her television interview, she posted a tweet alleging that government spending has “debased” the dollar and hastened the adoption of virtual currencies. She also suggested that this is the worst way to push people towards digital assets.

According to senator Lummis, the government must limit its spending to protect the status of the dollar. She stated:

“I want USD to continue as the world’s reserve currency. We need to reign in spending & support financial innovation on US soil.” 

READ  Cryptocurrency Adoption: Countries on the Positive Side of History, and Those that Are Resistant

#Bitcoin regulation #Crypto regulation #Cynthia Lummis #Fox News

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Source: https://www.cryptoknowmics.com/news/bitcoin-needs-rules-that-allow-innovation-sen-cynthia-lummis

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Blockchain

Bitcoin Needs Rules That Allow Innovation: Sen Cynthia Lummis

In an interview with Fox News show “Varney & Co”, Republican senator and longtime Bitcoin advocate Cynthia Lummis shared her views on crypto regulation.

Published

on

Table of Contents

Rate this post

In an interview with Fox News show “Varney & Co”, Republican senator and longtime Bitcoin advocate Cynthia Lummis shared her views on crypto regulation. Shortly after, the politician linked the interview to a tweet, where she asserted that massive government spending in the pandemic has accelerated the adoption of digital assets.

Cynthia Lummis Demands a Regulatory Sandbox for Bitcoin

During her cable TV appearance, Lummis emphasized that any regulations for cryptocurrencies should be accompanied by “good solid definitions.” She said that the end result of this process should be a “regulatory sandbox” that allows innovation to continue. 

The senator also expressed her own interest in Bitcoin as a store of value and highlighted that regulators must ensure that the currency remains instrumental for this purpose. But she pointed out that if the US were to approach the flagship crypto as a legal tender, like El Salvador, then the asset must comply with the bank secrecy act and anti-money laundering laws. 

“We want to make sure that it is used legitimately and that it can be ferreted out when it’s used nefariously,” she said.

Lummis also outlined her support for the crypto miners banned by China transitioning to the country. “We wanna make sure that these miners coming to the US from China…can come to places like Pennsylvania, Texas, Wyoming, and elsewhere. Where they can get the energy to mine it and then once it’s produced that it can be on the blockchain in a way that enhances the non-fiat currency advantages that cryptocurrency has,” she told Fox host Stuart Varney.

Government Spending Leading to a “Flight to Digital Assets”

Unlike some Bitcoin maximalists who favor “hyperbitcoinization”, senator Lummis is a strong supporter of the USD as a reserve currency. Following her television interview, she posted a tweet alleging that government spending has “debased” the dollar and hastened the adoption of virtual currencies. She also suggested that this is the worst way to push people towards digital assets.

According to senator Lummis, the government must limit its spending to protect the status of the dollar. She stated:

“I want USD to continue as the world’s reserve currency. We need to reign in spending & support financial innovation on US soil.” 

READ  Facebook Libra Inspires a Wave of New Online Scams

#Bitcoin regulation #Crypto regulation #Cynthia Lummis #Fox News

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.cryptoknowmics.com/news/bitcoin-needs-rules-that-allow-innovation-sen-cynthia-lummis

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AI

Coinbase Report: ETH Trading Volume Increased More Than Bitcoin’s in First Half of 2021

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Although he made his fortune trading penny stocks and manipulating the markets, Jordan Belfort, the trader who inspired the iconic movie “The Wolf of Wall Street,” is currently not very happy with a lot of what’s going on with the crypto industry.

In a recent interview he explained in detail what excites him and what bothers him about the crypto space.

The Good: Bitcoin and DeFi

Belfort confesses to being an optimistic Bitcoiner. He explained that since discovering Bitcoin, he has found it to be an exciting idea.

He hopes that soon there will be more and better regulations for Bitcoin and the crypto industry. From his point of view, the more regulations there are, the better the consequences for cryptocurrency users and traders in the future.

“The sooner that massive regulation comes into the market, the better it is for Bitcoin, stablecoin and everything else. I think people are scared of regulations, they shouldn’t be. If you look back in history … let’s say the junk bond market, everybody said, ‘Oh no, the regulators are coming in! [But ultimately] the market got much bigger, so I think it’s a good thing,”

Belford commented that Bitcoin has a “bright future” and that the industry has evolved favorably over time, now being much more mature. He believes BTC could become a serious substitue for gold, and he expects the crypto to end the year somewhere between $45,000 and $70,000.


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Belfort is also very enthusiastic about DeFi, an industry he believes to be very innovative. He even advises a DeFi company today.

The Bad: Shitcoin ≠ Crypto

Belfort was concerned about the growing number of worthless cryptocurrencies being created to attract many unwary people who end up losing their money.

From his point of view, these scams are a harm to the crypto industry in general

There are so many scams, it is really sad … You have all these shitcoins out there. Literally, every single day, there are new ones being printed. They are simply designed to separate people from their money.

However, he assured that all crime leaves a trail and eventually the organizers of these scams will pay, even though they are currently walking free due to the legal loopholes.

He called for cleaning up the crypto markets, although he declined to specify which cryptocurrencies he considered to be scams.

The Ugly: Tether

For Belfort, the top stablecoin in the ecosystem at the moment is a stain on the crypto industry’s credibility. When asked if he considered Tether a scam, the seasoned trader stressed that he had several years warning about his suspicions regarding USDT.

I have been saying that since 2017 that I thought there was a big problem with Tether … It seemed like a pretty convenient thing that Tether supply expanded when it needed to expand. And then when they settled something civilly, I was like Wow, How did they get away with that?

He declined to call Tether a scam or a shitcoin. Still, He said that while Tether may currently operate cleanly, past mistakes could cost it dearly, even to the point of not being able to recover.

However, although this scenario could bring negative consequences for the crypto ecosystem, from his point of view, it would simply be a matter of time until the markets balance migrating to another stablecoin of proven legitimacy.

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PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coingenius.news/coinbase-report-eth-trading-volume-increased-more-than-bitcoins-in-first-half-of-2021-30/?utm_source=rss&utm_medium=rss&utm_campaign=coinbase-report-eth-trading-volume-increased-more-than-bitcoins-in-first-half-of-2021-30

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AI

Coinbase Report: ETH Trading Volume Increased More Than Bitcoin’s in First Half of 2021

Published

on

Although he made his fortune trading penny stocks and manipulating the markets, Jordan Belfort, the trader who inspired the iconic movie “The Wolf of Wall Street,” is currently not very happy with a lot of what’s going on with the crypto industry.

In a recent interview he explained in detail what excites him and what bothers him about the crypto space.

The Good: Bitcoin and DeFi

Belfort confesses to being an optimistic Bitcoiner. He explained that since discovering Bitcoin, he has found it to be an exciting idea.

He hopes that soon there will be more and better regulations for Bitcoin and the crypto industry. From his point of view, the more regulations there are, the better the consequences for cryptocurrency users and traders in the future.

“The sooner that massive regulation comes into the market, the better it is for Bitcoin, stablecoin and everything else. I think people are scared of regulations, they shouldn’t be. If you look back in history … let’s say the junk bond market, everybody said, ‘Oh no, the regulators are coming in! [But ultimately] the market got much bigger, so I think it’s a good thing,”

Belford commented that Bitcoin has a “bright future” and that the industry has evolved favorably over time, now being much more mature. He believes BTC could become a serious substitue for gold, and he expects the crypto to end the year somewhere between $45,000 and $70,000.


ADVERTISEMENT

Belfort is also very enthusiastic about DeFi, an industry he believes to be very innovative. He even advises a DeFi company today.

The Bad: Shitcoin ≠ Crypto

Belfort was concerned about the growing number of worthless cryptocurrencies being created to attract many unwary people who end up losing their money.

From his point of view, these scams are a harm to the crypto industry in general

There are so many scams, it is really sad … You have all these shitcoins out there. Literally, every single day, there are new ones being printed. They are simply designed to separate people from their money.

However, he assured that all crime leaves a trail and eventually the organizers of these scams will pay, even though they are currently walking free due to the legal loopholes.

He called for cleaning up the crypto markets, although he declined to specify which cryptocurrencies he considered to be scams.

The Ugly: Tether

For Belfort, the top stablecoin in the ecosystem at the moment is a stain on the crypto industry’s credibility. When asked if he considered Tether a scam, the seasoned trader stressed that he had several years warning about his suspicions regarding USDT.

I have been saying that since 2017 that I thought there was a big problem with Tether … It seemed like a pretty convenient thing that Tether supply expanded when it needed to expand. And then when they settled something civilly, I was like Wow, How did they get away with that?

He declined to call Tether a scam or a shitcoin. Still, He said that while Tether may currently operate cleanly, past mistakes could cost it dearly, even to the point of not being able to recover.

However, although this scenario could bring negative consequences for the crypto ecosystem, from his point of view, it would simply be a matter of time until the markets balance migrating to another stablecoin of proven legitimacy.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coingenius.news/coinbase-report-eth-trading-volume-increased-more-than-bitcoins-in-first-half-of-2021-31/?utm_source=rss&utm_medium=rss&utm_campaign=coinbase-report-eth-trading-volume-increased-more-than-bitcoins-in-first-half-of-2021-31

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