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Quantum Generation® announces a partnership with Plato Technologies and the Quantum Space Revolution.

(Raleigh, NC., July 2022 -) - Quantum Generation® is pleased to announce an orbital and terrestrial technology partnership with Plato Technologies. The partnership allows...

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Bitcoin Activity Soars Post SWIFT Ban On Russia, BTC At Do Or Die Spot?

Bitcoin has found temporal support at $39,000, but buyers have been scarce as the market enters into weekend price action. Uncertainty around macro factors seems to be growing with the Russia-Ukraine conflict contributing with the selling pressure experience by BTC and larger cryptocurrencies over the past days. Related Reading | Market Update: Crypto Market Rebounds As Tech firms Boycott Russia At the time of writing, Bitcoin trades at $39,168 with a 4.2% loss in the past 24 hours. The benchmark crypto saw some relief before the current downside action. Per a report from research firm Delphi Digital, Bitcoin activity boomed due to consequences of the Russian invasion of Ukraine. The United States, Europe, and the International Community decided to ban the Russian Federation from the Society for Worldwide Interbank Financial Telecommunication (SWIFT), the communication rails used by banks in the legacy financial system. Effectively, making Russia a financial outsider. As seen below, on March 1st, when the sanctions were announced, Bitcoin’s active supply saw it largest surged since May 2020. At that time, the start of the lockdown measures to prevent the spread of COVID-19 led global markets into a severe downtrend. This uptick in Bitcoin active supply could suggest buyers increased their holdings to hedge against future events. At the same time, as reported by Brian Armstrong and other crypto exchange CEOs, BTC and other cryptocurrencies have been used by people on the ground to safely transport wealth across borders. Additional data provided by Delphi Digital seems to support this thesis as the BTC supply held by addresses with balances between 0.001 and 10 BTC stood above 2.73 million. The research firm added the following: Cutting off the Russian Ruble from the world’s financial system led to a sell-off, causing it to drop 20% over the weekend.  As Russians try to preserve value, BTC has emerged as one of the options. This caused BTC to trade at an eye-popping 40% premium. Bitcoin At Make It Or Break It Moment? As NewsBTC reported yesterday, Bitcoin needed to hold above $40,000 to prevent further downside. Now, with critical support lost, a potential revisit of $36,000 seems likely. Data from Material Indicators seems to support this thesis, at least for lower timeframes, as there seems to be low liquidity at current levels at up to that price point. As seen in the chart below, there are around $18 million in bids orders for BTC at $36,000. Until that point, any levels seem weak, for the short term. To the upside, the order book seems equally thin, but without buying pressure it seems unlikely that BTC’s price will make a push upwards, for the time being. Related Reading | Billionaire Investor Says Crypto Outlook Is ‘Very Bullish’ For Bitcoin According to a pseudonym analyst, BTC’s price benefited from the “safe haven asset narrative”, but that momentum seems to have been extinguished. Talking about the potential opportunity to buy BTC’s dip into future lows, giving the asset’s possible capacity to reclaim previous highs, the analyst said: (…) we’d need a push above $46K to continue it’s bullish trend which won’t be easy either after such a fall (…). As for $BTC’s direction I’m a bit conflicted on what’s next. Until we lose the current level I still have some hope for a reversal but the bulls really have to pull through after the weekend. As for the weekend I expect mostly chop as usual.

The Doctor’s Prescription For Mass Formation Psychosis

How do we fix the apparent epidemic-level misunderstanding of the direction society is headed?

Wear-to-earn NFTs: For Real?

When I was a child, I remembered playing with paper doll cutouts. The doll was printed on thick cardboard, usually in her undies. Her clothes and accessories are printed separately, also on relatively thick cardboard, with tabs sticking out on the side. This is so that the clothes can stay on her in a clipped […]

The post Wear-to-earn NFTs: For Real? appeared first on Coin Bureau.

Mick Flannery, Night at the Opera

Reading Time: 4 minutes Irish Singer/Songwriter Mick Flannery is surprising in many ways. The expression Still waters run deep springs to mind when in conversation with him. He speaks in a slow, low, almost monotone voice, something akin to the way he sings, and it is mesmeric. In recent times, for that read Covid, […]

NFTs are not just about art

Reading Time: 3 minutes An interview with Carolin Wend, co founder of Mintbase.io NFTs are not just about art. Into this exploding field comes established player, Mintbase, with ambitions to rethink NFTs. Just as we get our heads around the concept of digital art NFTs then another cargo-load of applications arrives to really fry […]

6 Rules for Investing During the Pandemic

A great deal of the volatility and price actions we have witnessed throughout last year and then again with the resurgence of COVID in the form of its Delta and Omicron variants was quite likely le...
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Decred a year in review (Nov 21 — Feb 22)

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It’s been a hell of a year! But really, you can’t tell the story of Decred in 2021 without revisiting the starting point of the cycle. In…

Bitcoin Lacks ‘Economic Anchor,’ But You Should Not Worry: Here’s Why

Bitcoin Lacks ‘Economic Anchor

The situation is quite intense right now in the cryptocurrency market. Bitcoin has lost 50% of its value since November. This isn’t unusual for a cryptocurrency; it went through a similar slump from April to July 2021, and then immediately recovered. From a statistical standpoint, Bitcoin appears to be a high-volatility asset with no clear medium- or long-term trending or reverting patterns. It’s not a completely random walk in which the future path is unaffected by previous price fluctuations, but it’s closer than most major assets. Bitcoin Lacks ‘Economic Anchor’ Due to its volatile nature and the market-wide correction in crypto, there has been a lot of criticism going around regarding digital assets (especially Bitcoin), all over the internet. The recent one came from Nassim Nicholas Taleb, author of “Black Swan”, who sent out a tweet that went viral. He said: “For a contagion-driven asset with no economic anchor such as #BTC, a falling price does not make it ‘cheaper’ and more attractive. A falling price makes it less desirable [and], paradoxically, more [expensive]. Why? Because the price is its only information.” This is not the case experimentally over the brief history of Bitcoin. Buying Bitcoin when the price was falling was just as appealing as buying it when the price was climbing in the past. Taleb, on the other hand, presented an economic claim rather than a statistical one. So it doesn’t matter if BTC holds the title of “Economic Anchor,” the largest cryptocurrency is here to stay.  Bitcoin is Not the Only One in this Team A point to keep in mind is that numerous other “contagion-driven” assets lack an “economic foundation.” Art, diamonds, money, and a variety of other items have value only because other people value them, not because they may be used economically. The US dollar is a particularly valuable contagion-driven asset that lacks an economic base. It has a significant tendency to trend, unlike Bitcoin. If the value of the dollar is declining owing to inflation, it will most likely continue to fall. No one buys or sells the dollar because it is cheap during inflation or expensive during depressions. The exact reverse occurs. The US Dollar too is not an anchor. The dollar has something that Bitcoin does not: a government and banking system that helps to keep its value stable at all times. However, it is not a mooring, and the US Federal Reserve does not attempt to restore the dollar to pre-inflationary levels. It’s an engine that prevents the ship from drifting too fast. If the dollar is fast losing value, the Fed will create pressures that will halt the slide but not reverse it, allowing it to return to its prior level. This is the world in which Bitcoin arose and gained acceptance among technophiles, the financially disadvantaged, and those who distrust the government and banks. Bitcoin served as a lifeboat for those thrown overboard by the government ship, as well as for everyone else if the traditional financial system floundered due to a lack of an anchor. Anchors aren’t required for lifeboats. With the Pandemic and Inflation Becoming the Norm, Bitcoin & Crypto Can Only Grow The world economy came down during the COVID-19 pandemic. The world seemed like it came to a stand-still. And this was the time when Bitcoin and other cryptocurrencies showed their full potential. The fact that cryptocurrencies may be traded from anywhere in the world helps to relieve some of the liquidity issues that can develop if local governments impose trading restrictions as part of a lockdown. As a result, when compared to alternatives, cryptocurrencies become more appealing. Furthermore, investors who are concerned that a crisis may prompt central banks or political players to intervene in the market may prefer to participate in the decentralized crypto market. Bitcoin can help investors mitigate political risk and so become more appealing. Inflation encourages spending so the fiat money you hold in your hand or your bank account is losing value unless it is invested to make returns. Rising prices of items may be seen almost everywhere else as well. According to economists, a big part of this is because money’s ‘purchasing power’ — such as the Indian rupee — depreciates over time and is tolerated as a necessary evil to keep the economy running. Bitcoin prices, on the other hand, are said to be able to buck this tendency, allowing the money to preserve its worth. In a message to clients, JP Morgan Chase noted that “institutional investors appear to be returning to Bitcoin, potentially considering it as a superior inflation hedge than gold.” Faith is the Economic Anchor for Bitcoin As Bitcoin’s value and acceptability developed, it gained an initial economic foundation in the belief that some official currencies and financial institutions would be unappealing … Continued

The post Bitcoin Lacks ‘Economic Anchor,’ But You Should Not Worry: Here’s Why appeared first on Cryptoknowmics-Crypto News and Media Platform.

Bitcoin And The Smallest Businesses: Cantillon Effects And Why They Need Bitcoin

Small businesses that are essential to communities often suffer the most from inflation — here’s how bitcoin can help remedy this suffering.

Week Ahead – RBA, BOE, ECB, OPEC+, and NFP in focus

After a rollercoaster January, Wall Street is now expecting the Fed to aggressively raise interest rates over the course of the year as they scramble to control inflation. The US dollar is once again king as most economists are now expecting the Fed to deliver anywhere between 3-7 rate hikes this year. The upcoming week […]

Bitcoin Recovers as Futures Expire

Wall Street Troll Street

Bitcoin is edging above $37,000 today after dropping to $36,200 midday with it seemingly recovering from a Monday low of just under $33,000. The January futures expired this Friday at...
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