Category Archives: Bitcoin
Assessing if Bitcoin Cash [BCH] will see a period of accumulation soon – AMBCrypto News
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.
Bitcoin Cash has a strong positive correlation to Bitcoin, in terms of price movement. The 30-day price correlation stands at +0.96, which means that BCH has been following the trend of Bitcoin in the past month.
Bitcoin appears primed for a push toward the $34.4k and $36k resistance areas, and this could propel Bitcoin Cash higher on the price charts as well. However, the longer-term trend remained bearish, and BCH could face strong sellers at $217 and $240.
Source: BCH/USDT on TradingView
Bitcoin Cash had traded within a range from $277 to $380 in 2022, until early May, when the price plummeted to the $180 mark. This was an ugly development for the bulls because the $278 support was a long-term horizontal level of significance. However, the price just crashed past it in late April/early May.
Technically, the market structure is strongly bearish as evidenced by BCH forming a series of lower highs and lower lows since November on the D1 chart. For the longer-term bias to flip to bullish, the price has to push past the $27-$300 area of resistance and flip it to support.
On the way up there, the $217 and $242 levels can also pose stiff resistance. Ultimately, Bitcoins own trend can force BCH higher, although a market structure shift might not take place.
Source: BCH/USDT on TradingView
The RSI has been below neutral 50 since early April, to indicate that the momentum was in favor of the sellers. This was when the price was near the 2022 range highs, and the price has been slipping lower since. The Stochastic RSI was also in the overbought territory.
The CMF has been beneath -0.05 since April, but at press time was on the verge of climbing back above it to show that the selling pressure had subsided. In May 2022, the A/D took a sharp dive, but it has been rising overall since August 2021.
The larger trend for BCH remained bearish, and the $217 and $240 levels can be areas where market participants can look to sell the asset. The presence of heavy resistances to the north, combined with the strong bearish structure, meant that longer-term investors would need to be patient for the bias to shift and a buying opportunity to present itself. The rising A/D does not by itself dictate a reversal in the trend towards the upside.
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Assessing if Bitcoin Cash [BCH] will see a period of accumulation soon - AMBCrypto News
Weekly waves: EUR/USD, USD/JPY and Bitcoin – FXStreet
The EUR/USD completed a wave 3 (gray) of a larger downtrend. Now price action is preparing for a larger bullish correction.
Bitcoin (BTC/USD) failed to break the support and lows for several days. Price action seems to be moving north now.
The bearish correction is choppy and shallow, as usual for a wave 4 (pink). The wave 4 (pink) remains valid as long as price action does not correct below the 50% Fib.
The EUR/USD completed a wave 3 (gray) of a larger downtrend. Now price action is preparing for a larger bullish correction:
The EUR/USD bullish price swing is unfolding in a 5 wave pattern (blue).
The current wave is probably a wave 5 (blue) of a larger wave A (pink).
The first target is the larger 23.6% Fibonacci retracement level of the wave 4 (gray).
A bearish bounce (orange arrows) could take place at the resistance level.
A bearish correction should create an ABC (blue) pattern in wave B (pink).
The bearish swing should not break the bottom otherwise the ABC (pink) zigzag becomes invalidated.
A bullish wave C (pink) could complete wave 4 (gray) or a wave W of 4.
Bitcoin (BTC/USD) failed to break the support and lows for several days. Price action seems to be moving north now:
The BTC/USD was in a strong downtrend.
The main question is: has the downtrend completed a wave 5 (pink) of wave a (gray) or will there be one more low remaining?
The resistance levels are the critical resistance zone for that decision.
A bullish breakout (green arrow) could confirm a larger 123 (blue) pattern within an ABC (pink).
A bearish bounce (orange arrow) could indicate an ABC (blue) pattern within a WXY (pink).
Eventually price action is expected to complete an ABC (gray) pattern.
The USD/JPY is building a bearish correction in a solid uptrend:
The uptrend seems to have completed a wave 3 (pink) pattern.
The bearish correction is choppy and shallow, as usual for a wave 4 (pink).
The wave 4 (pink) remains valid as long as price action does not correct below the 50% Fib or deeper.
A complex correction via a WXY (blue) pattern could unfold in wave 4 (pink).
A bullish bounce is expected at the 38.2% Fibonacci level if price action manages to reach it.
Price action needs a clear higher low plus bounce before the wave 4 (pink) could be considered completed.
The analysis has been done with the indicators and template from the SWAT method simple wave analysis and trading. For more daily technical and wave analysis and updates, sign-up to our newsletter
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Weekly waves: EUR/USD, USD/JPY and Bitcoin - FXStreet
How is SAI.TECH, a recently listed Bitcoin mining operator, driving towards carbon neutrality? – NewsBTC
The past year has experienced a boom in SPAC crypto mergers, with companies like Core Scientific Inc. Bakkt and Cipher Mining being a few notable examples. SAI.TECH (SAI or the Company) got on the wave of SPAC listings right before SPAC mergers got more difficult. Having gotten officially listed on Nasdaq on May 2nd, SAI is the first chip heating concept stock on the exchange, with its CEO & founder Arthur Lee also becoming the youngest Chinese CEO ever listed.
Bitcoin has become one of the most attractive emerging assets on the market in recent years, but the need for increasingly energy-intensive computing infrastructure has caused concerns about its sustainability. By promoting ESG standard technologies and solutions, SAI, as a global energy-saving bitcoin mining operator and a clean-tech company, is trying to prove to the market that the feasibility and the companys business model might leads bitcoin mining to a more sustainable future. We sat down with Arthur to talk about the companys innovative technology.
Q1: First, I would like to congratulate SAI on getting listed on Nasdaq. Can you give our readers a brief introduction of SAI? Whats the inspiration for your innovation?
My inspiration is based on what I see as the two major trends of the early 21st century sustainable development and decentralized digital network. Over the past 20 years, sustainable development has become a shared goal globally. Another trend is, decentralized digital cryptocurrency like Bitcoin has experienced a boom, ushering in the future of web 3.0. The high value of Bitcoin has proved its significance but has in equal parts been criticized for its high energy consumption and un-sustainability. As a result, how to better solve the energy consumption problem while ensuring the stable operation of the Bitcoin network has become an unavoidable dilemma facing us.
As a Bitcoin mining operator, SAI foresaw this problem as early as 2019 and has been actively looking for partnerships with large mining pools. With the support from one of our close partners ViaBTC, a world-leading crypto mining pool, we introduced SAIHUB, a cost-efficient solution created to reduce the high costs involved in the mining process. After three years of development, SAIHUB has leapt from 1.0 to 3.0. The latest SAIHUB 3.0 is an integrated and decentralized solution designed to horizontally integrate the computing, power and heating industries to build a more efficient and sustainable infrastructure for Bitcoin mining.
Q2: How can the Bitcoin mining infrastructure become more sustainable? How does SAIHUB solution factor in that?
According to calculations, about 99% of the electricity consumed by Bitcoin mining machines turns into heat energy. This part of the heat energy has been neglected for a long time, so it is referred to as waste heat. Instead of using an extra huge amount of electricity to cool data centers, our SAIHUB solution is capturing that waste heat and using it to defray energy use elsewhere.
With the help of SAIs patented waste heat utilization technology, 90% of the heat generated by the mining process can be recovered and reused into heating sources for various residential, commercial, industrial, and agricultural application scenarios.
In recent years, the use of renewable energy for Bitcoin mining has dropped significantly as various factors have led natural gas and coal to become more popular sources of power for the industry. This change has made SAIs mission even more vital.
Q3: Can you introduce more of the SAIHUB solution? Whats the history behind this solution?
The evolution of SAIHUB has gone through three stages. At the 1.0 stage (2019-2020), SAIHUB used 16nm chips. The power was 50kw, with hash rates around 350T. This solution was able to reuse waste heat for single-house heating services. The SAIHUB 2.0, 2020 2021, was a step forward, adopting 7- 8nm chips, with the power for a single SAIHUB being around 250kw and hash rates leaping to 5P. This version was enough to recycle the heat for a small community or an agricultural greenhouse, thus enabling us to provide large-scale heating services.
From 2022 onwards, SAI enters the SAIHUB 3.0 stage. SAIHUB 3.0 lowers the core costs of the mining process, including heating, power, computing, and chip. We have successfully run three pilot projects of clean computing data centers, covering more than 30,000 square meters of greenhouses, large commercial buildings, and shopping malls for heating.
At this stage, we are willing to open up our patented liquid cooling and waste heat recovery technology to scale up the SAIHUB business model, enhance the efficiency of the whole industry together with our partners, including ViaBTC Pool, and promote the clean transition of the computing industry.
Q4: You just mentioned the partnership with ViaBTC Pool. Could you please introduce this partner in more detail?
ViaBTC is our strategic partner and also one of the major supporters of SAIHUB. As an all-encompassing crypto mining pool established in 2016, ViaBTC is well-recognized for BTC mining and has extensive influence in that field.
As global warming escalates, the international call for carbon neutrality is also growing stronger. The mining of PoW-based cryptos like Bitcoin consumes a massive amount of fossil energy. ViaBTC shares our belief that we should boost the innovation of clean energy technologies to improve the utilization of clean energy in crypto mining and reduce its environmental impact.
At the same time, we have also engaged in profound exchanges and cooperation with ViaBTC regarding the SaaS solution. In the future, we also hope to partner up with more companies in the field of BTC mining that share our beliefs. Together, we will expand the blockchain space and accelerate the progress of Bitcoin.
Q5: SAI recently took a major step into the tech market by getting listed on Nasdaq; what gives SAI an advantage in the competitive market of Bitcoin mining innovation?
Bitcoin has always been associated with high energy costs and unsustainable infrastructure, and the massive amounts of heat produced have been a constant cause for concern. Few people, however, have thought of using this resource as an asset, and this insight is what makes SAI stand out. Not only that, but our company also consists of an elite team with rich experience in the field.
Although the cost of electric heating is currently higher than that of fossil energy heating, as carbon taxes and various policies increase the price of fossil fuels, this will eventually change. It is estimated that the cost of using natural gas to obtain heat will be about 65% higher than that of electric heating by 2050, meaning that heating will inevitably be primarily electric. In this case, SAIHUB has an inherent advantage over fossil fuel-based heating solutions in the long term.
Lets review the carbon neutrality roadmap committed by the worlds major countries. Most developed countries, including the United States, Japan, and the United Kingdom, have set the deadline to be 2050. However, the recent Russian-Ukrainian tensions have brought the European energy market to a standstill. In addition to the price increase of more than 200% for natural gas, countries like the United Kingdom must reconsider using coal to replace natural gas power generation. The contribution value of clean energy to achieve carbon neutrality may also require a considerable reduction in consumption levels according to current forecasts, which means that in the next twenty-eight years, energy efficiency plans such as those represented by SAIHUB will take on more responsibilities, which is a challenge, but also a rare historical opportunity.
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How is SAI.TECH, a recently listed Bitcoin mining operator, driving towards carbon neutrality? - NewsBTC
BSV Global Blockchain Convention: Frictionless use of Bitcoin by Vaionex – CoinGeek
The presentations and panels at theBSV Global Blockchain Convention in Dubai showed that the original Bitcoin SV serves as a worldwide ledger for data processing and payments.
However, we still need blockchain to be easily accessible for everyone, and this is where the founder and CEO of the multi-faceted company Vaionex, Robin Kohze, comes into play. At the convention, Kohze introduced Vaionex and proved that a frictionless use of the BSV blockchain is necessary and possible.
Even if you have the perfect infrastructure, that is not really giving us any adoption. That is what we at Vaionex call the Layers of Adoption. We requirebeyond the infrastructurelibraries and tools that programmers can work with, services that companies can rely on, and education, Kohze said.
What Vaionex offers to help developers and entrepreneurs with the BSV blockchain
So far, Vaionex has 13 projects completed within a short time frame, making use of its 26 experienced developers. On Vaionexswebsite, various BSV blockchain-driven solutions are being offered, including:
Kohze went on to show the recent success of Vaionex.Satolearn is a platform dedicated to education on the essentials of Bitcoin and blockchain, realized by Vaionex. Satolearn is not just a learning platform, but also a coding platform that makes it possible to interact with the blockchain while studying it.
Satolearn is a fun, interactive learning experience, challenging and now in the second consecutive year part of the official curriculum of the University of Exeter, Kohze said and pointed out that the feedback of the students attending the Satolearn classes so far is overwhelmingly positive.
It is amazing to see that Vaionex takes the approach of education as a basis for a frictionless utilization of Bitcoin because this is in line with Bitcoin inventor Dr. Craig Wrightspassion for education.
WithRelysia, Vaionex built a developer-friendly and entrepreneur-focusedBitcoin wallet that allows for more than just storing digital assets. Relysia is a wallet and blockchain as a service (BaaS) development suite in one. According to Kohze, the use of over 60 API endpoints reduces the development time on BSV by a staggering 95%.
Vaionex is now beta-tested by almost 22 companies in the last five months. We daily improve the robustness of the system. We directly collaborate with nChain and others to improve the experiences, Kohze said.
Endless opportunities utilizing the BSV blockchain with Vaionex
Kohze describedSTASas the leading smart contract token platform and announced that Vaionex is creating a new STAS company, focusing on:
The dynamic data tokens enable adding more data into already existing smart contracts.
All the tickets that you have around your necks, that could be tokens. Tokens that get updated the moment you enter here, or updated when you leave. And ultimately gives the event organizer a very robust way to trace where everyone is going and what is happening at the event, Kohze said, addressing the conventions audience.
With royalty tokens, the initial issuer gets paid a royalty fee for each transfer of the token, which for example, allows for new, frictionless monetization of intellectual property. Controlled tokens assist regulatory compliance, such as freezing tokens, unlocking tokens, and more. With multi-output tokens, high throughput transactions with more than 50 recipients in one single transaction become a reality.
BSV blockchain to emulate all other token protocols
However, Kohze isnt done yet. He went on to explain how with Bitcoin SV, all other digital assets and blockchains out there could be running on one single blockchain. The idea of the BSV blockchain being the underlying infrastructure for the countless token protocols out there originally came fromSatoshi Nakamotohimself.
Craig told me four years ago that in just a few years we will roll up all the existing token protocols in one global blockchain (). Bitcoin is Turing complete, that means you can run any kind of code and therefore you might as well emulate every other blockchain, Kohze said, giving credits to Bitcoin creator Dr. Craig Wright for his influence onVaionex.
This is what Ayre Group and CoinGeek founder Calvin Ayre described as BSV will eat the world plenty of times, too. The BSV blockchain might start eating the world by eating the rest of the digital asset sphere first.
Kohze described that with the BSV blockchain, a wormhole of efficiency comes to other token protocols such as Ethereum. According to Kohze, BSV could reduce the transaction fees for Ethereum by 99,99%.
All you have to do is go ontranspiler.bitcoinsv.comenter your existing smart contract, you get the sCrypt contract out, which you can convert to the low-level Bitcoin script language, Kohze said.
Kohze also introduced SVAgency, a Vaionex solution to let WordPress directly publish onto the Bitcoin SV blockchain, as well as a BSV blockchain-driven infrastructure provider called VIAPORT.
Watch the BSV Global Blockchain Convention Dubai 2022 Day 1 here:
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New to Bitcoin? Check out CoinGeeksBitcoin for Beginnerssection, the ultimate resource guide to learn more about Bitcoinas originally envisioned by Satoshi Nakamotoand blockchain.
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BSV Global Blockchain Convention: Frictionless use of Bitcoin by Vaionex - CoinGeek
Bitcoin vs Ethereum Forbes Advisor UK – Forbes
Bitcoin and Ethereum are the Coca-Cola and Pepsi of the cryptocurrency space. As the number one and two biggest names in the market, theyre often compared against one another.
From premise to prices, the two concepts are very different. However, there are many similarities to be found. Heres a look at how the two systems compare.
Bitcoin and Ethereum are systems, whereas bitcoin (lower case b) and Ether are the cryptocurrencies used by those systems. When comparing the two ecosystems, we need to be clear whether were comparing the technology, the assets or both.
In this article, we will refer to the systems by name and the currencies by their stock symbols. For bitcoin, thats BTC. For Ether, its ETH.
Bitcoin and Ethereum are fundamentally different because the former was designed to enable decentralised finance while the latter was designed to also enable apps and contracts.
While Ethereum does enable payments using its internal ETH cryptocurrency, its scope is much broader than Bitcoins by design.
Both systems use blockchain technology to validate and record transactions, but the way in which they do it is different, with consequences for speed, sustainability and accessibility.
The difference lies in whats known as a consensus mechanism.
A consensus mechanism is a computer algorithm that makes a blockchain viable. It does this by solving whats known as the double spend problem.
A 10 note, once spent, no longer belongs to you, so you cant spend it again. A BTC is a string of computer code, and could be copied infinitely. In theory, this means you could make yourself as rich as you liked by simply making copies of your BTC and spending it over and over again.
However, when you send someone a BTC, your copy is destroyed and a new version of it is created in the recipients account.
This is all recorded on a distributed ledger for the world to see. Since everyone can see on their copies of the ledger that youve spent your BTC, you cant attempt to spend a copied version of it the consensus of ledger holders would be that you were trying to pull a fast one.
Doctoring one transaction is hard enough, but youd actually also have to change every subsequent transaction since each one references its forerunners.
This would take an incredible amount of computing power and effort, plus youd need to control 51% of the distributed ledgers on the network to get the consensus necessary to etch your fake history of transactions onto the blockchain and take your freshly mined crypto as reward.
Bitcoin and Ethereum use different consensus mechanisms.
Bitcoins is called proof of work while Ethereums is called proof of stake.
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This consensus mechanism asks participants to carry out complex computations for the chance to become the user who gets to validate a bunch of transactions and add them to the blockchain earning a set amount of crypto in the process..
The work involves guessing, as closely as possible, a unique, alphanumeric string of 64 characters.
There are trillions of possible combinations to these strings, so those with the most powerful computer hardware can make the most guesses per second within the 10-minute window of opportunity, and have the best chance of being the chosen validator.
In order to get a doctored copy of the ledger validated and added to the block, youd need to control at least 51% (a consensus) of the computing power of a network, which would be astronomical. This is how the consensus method prevents fraud.
This work used to be done by hobbyists at home, but the processing power needed increases over time, so the mining process is now the reserve of companies and specialist organisations i.e. those who can afford the hardware and the power needed to run it.
Proof of work systems such as Bitcoin have drawn a lot of criticism for the amount of energy expended by the computer hardware involved. Bitcoin currently uses 19 terawatt hours (TWh) of electricity per year. Thats just under the amount used by the entire nation of Norway.
This consensus mechanism asks participants to stake their own money for the chance to validate transactions and add a block to a blockchain, rather than carry out complex computations.
The more crypto someone stakes, the greater their chances of being chosen to validate a block of transactions to a blockchain and earning a set amount of crypto. The system also discourages bad actors with financial penalties.
Proof of stake stacks the deck in favour of people with more money, but protects against people adding fraudulent records to the blockchain because theyd need to stake at least 51% of the money in the network to control a consensus.
Without the need for powerful computer hardware, proof of stake is considered a more environmentally friendly consensus mechanism than proof of work.
Bitcoin was developed solely to facilitate decentralised payments, that is, to allow people to send and receive payments without an intermediary such as a bank. Ethereum, on the other hand, was designed to do more than just send and receive ETH.
Using blockchain, which provides an immutable record of transactions, Ethereum was designed to facilitate decentralised software such as smart contracts and distributed apps (dApps).
A smart contract is a digital agreement between two or more parties that will execute itself once certain conditions are met.
For example, Account A will release Asset X once it has received Asset Y from Account B. This could be used to make property sales and the transfer or ownership faster and less liable to fraud.
A dApp is an application that isnt controlled by a central authority. Twitter is an example of a centralised app, with users relying on it as an intermediary to send and receive messages. As such, users play by the rules it enforces and the algorithm it uses to control content.
A dApp is distributed on a blockchain, with users able to send and receive data directly without the need for an intermediary. Peepeth is a Twitter-like dApp. It claims that as an app it doesnt optimise for advertising revenues, an issue it says users of centralised apps suffer from.
So while you could say that Bitcoin is larger, but Ethereum is faster, the two arent strictly in competition with each other because theyre designed to do different things. BTC and ETH, on the other hand, are directly comparable.
BTC has certainly been more valuable than ETH, peaking at around $64,000 in November 2021. ETH on the other hand peaked at around $4,600 in the same month.
Despite the stark difference in their values, the two cryptocurrencies values have historically shown strong positive correlation to each other, trending between 0.7 and 0.8 for much of that time (with 1.0 representing the strongest possible correlation) according to coinmetrics.io data.
Regardless, and as is the case with all cryptocurrencies, BTC and ETH are both volatile. Prices are unpredictable and prone to crashes.
The cryptocurrency market is unregulated in the UK. The UK financial watchdog the Financial Conduct Authority (FCA) has issued repeated and stark risk warnings to people thinking of investing in cryptocurrency, saying they should be prepared to lose their entire investments with no recourse to compensation.
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Bitcoin vs Ethereum Forbes Advisor UK - Forbes
Bitcoin could fall to $8,000, a more than 70% plunge, Guggenheim’s Minerd says – CNBC
Bitcoin could drop further and fall to $8,000 from its current levels, Guggenheim Chief Investment Officer Scott Minerd predicted Monday.
That would represent a more than 70% drop to Monday morning's price of just over $30,000.
"When you break below 30,000 [dollars] consistently, 8,000 [dollars] is the ultimate bottom, so I think we have a lot more room to the downside, especially with the Fed being restrictive," Minerd told CNBC's Andrew Ross Sorkin in a "Squawk Box" interview at the World Economic Forum in Davos, Switzerland on Monday.
Minerd is referring to the U.S. Federal Reserve's hiking of interest rates and tightening of monetary policy.
Since falling below $30,000 earlier this month, bitcoin has struggled to rally substantially above that level. It has regularly dipped below $30,000.
Scott Minerd,Guggenheim Partners LLC Global Chief Investment Officer, at the WEF in Davos, Switzerland on May 23rd, 2022.
Adam Galici | CNBC
If Minerd's forecast comes true, it would inflict further pain on bitcoin and the broader cryptocurrency market which has seen around $500 billion wiped off its value in the past month. Bitcoin is down around 24% in the last 30 days alone.
The CIO also said that most crypto is "junk" but that bitcoin and ethereum will survive.
"Most of these currencies, they're not currencies, they're junk," he said.
Even so, he said, "I don't think we've seen the dominant player in crypto yet."
Minerd compared the current situation to the dotcom bubble of the early 2000s.
"If we were sitting here in the internet bubble, we would be talking about how Yahoo and America Online were the great winners," he said. "Everything else, we couldn't tell you if Amazon or Pets.com was going to be the winner."
"I don't think we have had the right prototype yet for crypto," he said, saying that currency needs to store value, be a medium of exchange and unit of account.
"None of these things pass, they don't even pass on one basis," he said. Minerd added that additional technological advances could change that and help create an ecosystem where people get used to using cryptocurrencies for transactions and are confident they will hold their value.
Minerd's comments come after European Central BankPresidentChristine Lagarde said cryptocurrencies are "worth nothing."
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Bitcoin could fall to $8,000, a more than 70% plunge, Guggenheim's Minerd says - CNBC
Billionaire Bill Miller Says Upcoming Ethereum Upgrade Will Leave Bitcoin With One Massive Advantage Over ETH – The Daily Hodl
Legendary investor Bill Miller says the upcoming Ethereum (ETH) switch to a proof-of-stake network will saddle Bitcoin (BTC) with one huge advantage over the top altcoin.
In a new interview on The Investors Podcast Network, the billionaire investor says ETHs switch from a proof-of-work to a proof-of-stake consensus mechanism could increase financial inequality, a problem that wouldnt be found on the top crypto asset by market cap.
The other thing with proof of stake is one of the big problems that people talk about as a problem in the United States is inequality. Well, proof of stake basically is the most unequal thing you can imagine, because the rich people make all the decisions.
And if you have more stakes, if you have more Ethereum at stake, meaning you own more of it than somebody else, you get whatever the votes are. Its like if you own more shares than If you own 50% of the shares of Berkshire Hathaway, you can determine whats going to happen with Berkshire Hathaway.
And if you own 50% of the Ethereum, you decide whats going to happen with it, and nobody else can say it. Thats a problem that Bitcoin doesnt have. Its truly democratic.
Miller goes on to say he considers BTC as a sort of insurance against an economic meltdown, citing the political situations of Venezuela, Nigeria, Lebanon, Ukraine, and Afghanistan as examples.
If you had Bitcoin, you were fine. Your Bitcoin is there. You can send it to anybody in the world if you have a phone. And so I consider Bitcoin basically an insurance policy against financial catastrophe of one sort or another.
Miller revealed in January that half of his net worth was invested in Bitcoin.
Bitcoin is changing hands at $28,607 at time of writing, down 1.34% in the last 24 hours, while Ethereum is trading for $1,732, a 1.16% drop over the same timeframe.
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Featured Image: Shutterstock/DMegias
Ill Be Buying Bitcoin at the Top Forever: MicroStrategy CEO – U.Today
Yuri Molchan
Michael Saylor is determined to keep buying Bitcoin
During his recent appearance at Fox News, co-founder and chief executive of MicroStrategy, Michael Saylor, shared whether his view on Bitcoin has changed recently.
Saylor is a renowned Bitcoin evangelist, who believes BTC is an ultimate safe haven and an inflation hedge.
Answering the questions of the Fox News anchor Tucker Carlson, Saylor shared that since 2020, when the pandemic broke out, the leading digital currency has demonstrated a staggering growth of 229 percent, while the US money supply has been increased by 36 percent, gold gone up 7 percent, S&P 500 is up 29 percent, and the Nasdaq 100 has risen 19 percent.
Therefore, Saylor, is certain that if you are able to handle the volatility and take a long-term view, Bitcoin is a safe haven.
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When asked about the current strategy of the company, Saylor stated that MicroStrategy is not selling any of its BTC, but they are buying more of it whenever there is any spare cash. What is more, the CEO added that they plan to be buying at the top forever.
As of April 5, the business intelligence software producer MicroStrategy holds a comprised 129,218 Bitcoins worth $3,723,248,686 at the time of writing.
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Ill Be Buying Bitcoin at the Top Forever: MicroStrategy CEO - U.Today
Luxury Vacation Rental Platform Swish Now Accepting Bitcoin through partnership with NordikCoin – GlobeNewswire
MARBELLA, Spain, May 28, 2022 (GLOBE NEWSWIRE) -- Swish (https://swishmarbella.com) is a luxury rentals platform based in Marbella that offers an exclusive collection of high-end homes. Swish's mission is to open the doors of the most beautiful homes, enabling the global traveler to live countless love stories, without the commitment. Swish has now partnered with licensed Estonian cryptocurrency exchange NordikCoin (https://nordikcoin.com) to offer Bitcoin as a valid payment option for its clients. NordikCoin is operated by OmniMatrix O, fully licensed as a crypto exchange in Estonia since 2019. The new collaboration will allow sunseekers to pay for their luxury vacation rentals using Bitcoin.
The client booking a luxury rental on the Swish platform gets quoted a sum in Bitcoin, at which point the rate is locked until the transaction is completed. As a regulated financial institution with strict license requirements, NordikCoin will oversee the transaction, ensuring it follows the highest KYC and AML standards. This also acts as a safeguarding measure for the client.
"We are happy to set a new standard in the luxury vacation rental market," says Karen Ayat Issa, CEO of Swish Marbella.
"We believe Bitcoin can have a transformative effect on global commerce; especially in the high-end market. At Swish, a typical lease is between 10,000 to 100,000 EUR per week. These are large transactions which often take days to clear and create sizable transaction costs for our clients.Here, Bitcoin serves a clear purpose, by offering fast, seamless international payments. What's more, with the recent influx of Bitcoin millionaires, it's an interesting market opportunity for us."
David De Marco, CEO of NordikCoin's parent company OmniMatrix, is also enthusiastic about the deal: "We are ecstatic to be working together with a company like Swish. They are best in what they do; offering luxury rentals to a global audience. We are really impressed with what they have managed to build in a short period of time and look forward to opening up the Bitcoin market together for international high-end travelers."
The Swish-NordikCoin agreement officially starts 1st of June and is available for all new and present customers of Swish.
Press contact:
Karen Ayat IssaCo-founder and CEOkaren@swishmarbella.com
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Image 1: Swish leads in the High End Travel Sector by Accepting Bitcoin Payments
Swish leads in the High End Travel Sector by Accepting Bitcoin Payments
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Luxury Vacation Rental Platform Swish Now Accepting Bitcoin through partnership with NordikCoin - GlobeNewswire
Galaxy Capital’s Mike Novogratz Believes Bitcoin Will Lead the Next Rally When the US Fed Pauses its – Ethereum World News
Summary:
The CEO of Galaxy Digital, Mike Novogratz, has forecasted that Bitcoin will lead the next rally once the US Federal Reserve eases its monetary tightening policy set to start next week. According to Mr. Novogartz, his forecast of a Bitcoin rally will be followed by that of digital assets linked to good projects.
He also explained that the crypto-verse would not go away, and the current pullback results from the industry adjusting to the popping of the asset bubble caused by the same US Fed. He said:
BTC will lead the next rally when the Fed pauses/flinches. Good projects will follow suit.
This industry will not go away.
We are just adjusting to the popping of an asset bubble caused by the Fed. Building revolutionary tech and change isnt supposed to be easy.
In an earlier Tweet, Mr. Novogratz pointed out that the ongoing crypto-market pullback will test investors convictions until it finds a bottom.
Furthermore, unlike traditional finance, crypto does not have the corporate buybacks and giant pension rebalancing that are currently causing a short squeeze in the equities market. He shared his insights on the ongoing crypto-market pullback through the following statement.
Crypto trades poorly. This is going to be a period that tests peoples convictions. We will find a bottom when we do. The break from trade-fi markets is because we dont have corporate buybacks and giant pension rebalancing that is causing this squeeze in equities.
Concerning when the US Fed might pause its monetary tightening policy that begins on June 1st, a recent report by Reuters anticipates that its monetary policy tightening might be paused in September if there is an economic deterioration and inflation subsides.
The pause will also probably happen at a time when interest rates will be ranging between 1.75% and 2%.The report by Reuters also quoted a note from Bank of America strategists, which further explained the possibility of a pause by the Fed through the following statement.
We have recently seen a tenuous but remarkable change in Fed communications, where some Fed officials suggest the option of downshifting or pausing later in the year as they reach 2% given the challenging macro backdrop, tightening of financial conditions, and potentially softening inflation.
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Galaxy Capital's Mike Novogratz Believes Bitcoin Will Lead the Next Rally When the US Fed Pauses its - Ethereum World News