Author: Kryptonews

Bitcoin’s price chart is a rich tapestry of past performance, hints of present sentiment, and clues about potential future movements. Understanding how to read and interpret this chart is fundamental for anyone engaging with Bitcoin, from casual investors to seasoned traders. This article delves into some general analysis techniques. Understanding Chart Types The most commonly used chart type for Bitcoin analysis is the candlestick chart. Each candlestick represents price movement over a specific period (e.g., 1 hour, 1 day, 1 week). The body of the candlestick shows the open and close price. If the closing price is higher than the…

A crypto strategist who nailed the Bitcoin top in January is warning that BTC’s recovery rally may witness an abrupt end. Pseudonymous analyst Bluntz tells his 318,200 followers on the social media platform X that Bitcoin appears to be forming a bearish divergence on the daily chart. The bearish reversal signal suggests that bullish momentum is waning even though an asset’s price is moving higher or sideways. Says Bluntz, “There’s a daily BTC bear div brewing here if it closes red by [today]. It’s unfortunate that it has appeared before fresh all-time highs, but it’s the first one since last…

The US Securities and Exchange Commission has delayed its decision on Bitwise’s application to add staking to its Ether exchange-traded fund and on Grayscale’s XRP ETF bid, which analysts had expected.The SEC said on May 20 that it needed to extend its decision on Bitwise’s application by 45 days to “consider the proposed rule change and the issues raised therein.” The agency needed to either decide or punt its decision by May 22.The agency also delayed deciding on Grayscale’s XRP (XRP) tracking ETF and Bitwise’s Solana (SOL) tracking fund while it seeks public comments and begins “proceedings to allow for…

To get the show every day, follow the podcast here.On “Markets Daily,” host Jennifer Sanasie speaks with Andy Baehr, managing director of CoinDesk Indices, about the “season finale” of crypto winter and the recent launch of the CoinDesk 20 Index.This episode was hosted by Jennifer Sanasie. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl, alongside Senior Booking Producer Melissa Montañez. All original music by Doc Blust and Colin Mealey.Audio Transcript: This transcript has not been edited and may contain errors.JENNIFER SANASIE:It’s Thursday, January 18th, 2024 and this is “Markets Daily” from CoinDesk. I’m…

The Environmental Cost of Digital Gold In the rapid expansion of cryptocurrencies, blockchain technology has emerged as both a revolutionary force and an unexpected environmental challenge. Proof-of-work (PoW), the consensus mechanism powering Bitcoin and other leading cryptocurrencies, relies on massive computations to validate transactions—creating a digital "gold rush" that comes at a significant ecological cost. How Proof-of-Work Impacts the Environment The core issue lies in the energy-intensive nature of PoW. Miners compete to solve complex mathematical problems, requiring powerful hardware (often high-end GPUs and ASICs) running 24/7. This energy consumption translates into real-world ecological consequences: Massive Electricity Demand: Bitcoin alone…

On 11 November 2022 FTX declared bankruptcy. The firm was once heralded as the Goldman Sachs of crypto, and its CEO, Sam Bankman-Fried, was deemed by some the next Warren Buffett. And now, just after proclaiming in an interview that he would not be arrested, he is in custody in the Bahamas awaiting extradition to the US. He is charged with a litany of fraud and campaign finance law violations, in what US prosecutors are calling “one of the biggest financial frauds in American history”.Casual investors, along with funders ranging from the Ontario Teachers’ Pension Plan to BlackRock, who invested…

Shareholders of the healthcare services provider KindlyMD, Inc have approved a proposed merger with Bitcoin holding company Nakamoto Holdings, founded by US President Donald Trump’s crypto adviser, David Bailey.KindlyMD and Nakamoto Holdings, a newly formed company that focuses on creating a network of Bitcoin-related entities, will both file information statements with the Securities and Exchange Commission, KindlyMD said in a May 20 statement.The merger is expected to take place 20 days after both companies have shared the information statement with KindlyMD’s shareholders, with the transaction expected to be finalized in the third quarter of 2025.Google Finance shows shares in KindlyMD…

Despite briefly climbing over the weekend, Ethereum couldn’t keep up its momentum above $2,600. The altcoin dropped to $2,400 before staging another recovery and returning to $2,600. New data now point to the possibility of a short-term pullback before a potential breakout materializes. Cooling Period Before Breakout Ethereum’s market is showing signs of overheating as it nears the $2.5K resistance level. There has been a surge in trading volume, which indicates intensified activity. In fact, according to CryptoQuant’s latest report, the sharp uptick is attributed to profit-taking and the presence of resting supply at this key psychological level. As Ethereum…

Blockchain: The Solution to Fraud and Inefficiencies in Property Deals The Problem with Traditional Property Transactions Traditional property deals rely on centralized systems, paper-based records, and multiple intermediaries. This complex, opaque process creates opportunities for fraud, delays, and high costs. Fraudulent activities, such as forged documents, identity theft, and title disputes, plague the industry, costing billions annually. Moreover, inefficiencies like lengthy closing times, manual record-keeping, and contradictory ownership claims further complicate transactions. How Blockchain Technology Works Blockchain is a distributed ledger technology (DLT) that ensures secure, transparent, and tamper-proof record-keeping. Transactions are logged in blocks, each cryptographically linked to the…

Polygon-based non-fungible tokens (NFTs) took the top spot in digital collectible sales after surging 20% in the last seven days. On April 22, NFT data tracker CryptoSlam showed that Polygon NFTs overtook Ethereum, reaching a $22.3 million volume in the past week. This represented 24% of last week’s overall NFT sales volume, which reached $92.9 million. The network also had over 39,000 NFT buyers for the week, an 81% increase over the previous week. Ethereum remained second in sales, with a $19.2 million NFT sales volume for the week. Mythos Chain followed with $14.3 million, while Bitcoin-based collections ranked fourth with $14.1 million…