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BTC Continues To Drop And It Could Dive To New Monthly Lows

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BTC continues to drop and the price is showing bearish signs below the $40,000 level against the US dollar with the coin extending the losses even below that in the near-term as we can see more in our latest Bitcoin news today.

BTC failed to settle above the $40K level and started afresh drop below $38,000. The price is now trading well below the $40,000 and the 100 simple moving average with a major bearish trend line forming with the resistance near the $37,500 on the 4-hour charts of the pair. The pair could also continue lower as long as it is trading below $38,000. Over the past week, BTC’s price started a decent recovery above the $35,000 level against the US dollar with the pair breaking the $38,000 resistance.

btc usd
Source BTCUSD on TradingView.com

However, the price failed to settle above $40,000 and remained below the 100 simple moving average and a new high was formed near the $40,971 and the price went on a fresh decline with a break below the $38,000 support. BTC traded below the 50% fib retracement level from the upwards movement of the $31,296 low to $40,971 high with a major bearish trend line forming with the resistance near $37,500 on the 4-hour charts of the pair. The pair is now testing the 76.4% fib retracement level from the upwards move of $31,296 low to $40,971 high.

If there’s another downside break below the $34,000 and $33,500 support levels with the price likely to drop lower. The next major support is close to the $31,250 level below which the price could possibly test the $30,000 support level in the near term. If BTC remains stable above the $33,500 level and could start a new increase with the initial resistance to the upside being near the $36,500 level. The first major resistance is close to the trend line and the $38,000 with the main resistance now nearing $40,000. the close above $40K is a must to start a steady increase in the near-term with the key barrier possibly settling at $45,000.

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BTCUSD
BTC 24-hour Price Chart, Source: CoinGecko

The 4-hour MACD for the pair is gaining momentum in the bearish zone and the 4-hour RSI for the pair is now well below the 50 level with the first major support level set at $33,500 as BTC continues to drop.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/bitcoin-news/btc-continues-to-drop-and-it-could-dive-to-new-monthly-lows/

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Robinhood Testing New Crypto Wallet and Cryptocurrency Transfer Features: Report

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Stock trading and investing app Robinhood has reportedly been testing new features, including a crypto wallet and cryptocurrency transfers. “The ability to deposit and withdraw cryptocurrencies is tricky to do with scale, and we want to make sure it’s done correctly and properly.”

Robinhood to Add Crypto Wallet and Transfer Features

Investing app Robinhood is “quietly” testing several new features, Bloomberg reported Monday, describing:

Robinhood Markets Inc. is testing new crypto wallet and cryptocurrency transfer features for its app.

Evidence of the new features has appeared in a beta version of Robinhood’s iPhone app, the publication conveyed, adding that the planned offerings were discovered by software developer Steve Moser.

Robinhood CEO Vlad Tenev previously said that adding a crypto wallet is a priority for the company’s developers but did not indicate when the launch would be. He said on the company’s second-quarter earnings call:

It’s something that our teams are working on. The ability to deposit and withdraw cryptocurrencies is tricky to do with scale, and we want to make sure it’s done correctly and properly.

Tenev noted that these features are particularly in demand among dogecoin (DOGE) enthusiasts.

Cryptocurrency trading on Robinhood reached record levels in the second quarter, accounting for more than half of all transaction-based revenues. The meme cryptocurrency dogecoin in particular made up 62% of the crypto trading volume in the second quarter.

The new crypto features are being tested as part of an “alpha program,” information within the code of the Robinhood app shows. The publication further noted that the code also revealed the company’s plans for “spare change investing and an early-deposit option for checking accounts.”

What do you think about Robinhood testing new features? Let us know in the comments section below.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

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Source: https://news.bitcoin.com/robinhood-testing-new-crypto-wallet-and-cryptocurrency-transfer-features-report/

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Kraken App Adds Apple Pay and Google Pay Integration

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We are excited to announce that Kraken now supports Apple Pay and Google Pay in the Kraken App. 

At Kraken we are committed to continually offering faster, easier and more convenient ways for our clients to buy crypto. 

The Kraken App (available in the Apple App Store or Google Play Store) will automatically connect with your existing Apple Pay or Google Pay account. From there, purchasing crypto can be completed in three simple steps. 

  1. In the Kraken app, select the ‘Buy’ crypto button and choose your preferred cryptocurrency (or select the ‘Buy’ button while on an individual token page).

  2. Enter the amount of crypto you wish to purchase and use the ‘Pay With’ option to select Apple Pay or Google pay.
  3. Review and confirm your purchase.

Please note that there is a minimum purchase amount of $10 and a maximum purchase limit of $7,500 during a seven-day rolling period. 

With the addition of Apple Pay and Google Pay, we take yet another step forward making it easier to make crypto part of your daily experience. Happy trading!

-Team Kraken

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Source: https://blog.kraken.com/post/10919/kraken-app-adds-apple-pay-and-google-pay-integration/

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Solana Blamed “Denial Of Service Attack” For Recent Downtime

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Solana blamed “denial of service attack” for the recent downtime that we reported in our previous altcoin news.

Solana blamed and pointed out in its initial postmortem report of the network outage that it happen due to a “denial of service attack.” The foundation said that a flood of transactions caused by the bots was actually a denial of service attack. After a few weeks of upward momentum, during which time the price of the coin multiplied about five times in value as Solana hit a serious roadblock a week ago when the blockchain network went offline for more than 17 hours starting on September 14. the Foundation issued an initial report of the event and cast the rood cause in some new light.

poly network hackers, theft, funds,
The Indian police is more active in its cases to bring crypto scammers behind bars.

Most of the information in the report confirms that was tweeted a week ago on the Solana official Twitter accounts or that of the Solana CEO Anatoly Yakovenko so in essence the network got overwhelemd by a flood of incoming transactions which the Foundation pegged previously up to 40,000 per second. The flood started during the launch of the initial decentralized exchange offering or an IDO which was hosted on the Solana-based decentralized finance protocol Raydium. The IDO is a type of token launch which happens on a DEX rather than the initial coin offering on a centralized exchange.

In this case, the IDO was for Grape Protocol as a widely used Solana toolset for the DeFi developers and the network got fast overwhelemd by the transactions generated by bots that were trying to break the way to success in the token offering. The transactions overwhelmed the network and caused a crash due to the amount of memory being used so the network stopped producing blocks when it could not consensus over the current status of the blockchain. A week ago, Solana pegged resource exhaustion as the cause of the downtime.

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While the reports still line up with last week information, Solana pointed:

“The cause of the network stall was, in effect, a denial of service attack.”

While not a traditional DDOs attack, Solana’s statement suggested that the end result was still similar. The network’s validators chose to update and restart the network which created a hard fork and took 14 hours to coordinate and to restart the effort, requiring 80% of validators to get the network up and running.

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

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Source: https://www.dcforecasts.com/altcoin-news/solana-blamed-denial-of-service-attack-for-recent-downtime/

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