Cryptocurrency

Titled “MSTR is 101% Bitcoin,” Saylor shared an annualized asset performance chart covering the price trajectories of Bitcoin (BTC), MicroStrategy (MSTR) stock, the S&P 500, real estate, gold and bonds since the software provider adopted its Bitcoin investment strategy in August 2020.Saylor’s analysis shows that MicroStrategy stock has done the best, rising 101% over the past four years. It is the best-performing asset in the review. Bitcoin has also done well, with holders seeing a solid 51% return over the same period. By comparison, the S&P 500 increased by 71%. While this growth is worth noting, it is nothing compared to the gains seen in both MicroStrategy and Bitcoin, which reinforce the idea that they have done better than the market overall over the last four years.It seems like Saylor’s goal with the post is more than just to show off. It is a way of confirming that he still believes Bitcoin is on the rise. Despite some recent hurdles, including rumors about Tether and ongoing geopolitical tensions, Bitcoin has risen back to $69,000 in the past four days, showing its resilience on the market.This article was originally published on U.Today More

Traders and analysts keep a close eye on this formation because, historically, it has preceded price rallies in Bitcoin and other assets. While the golden cross does not guarantee further gains at all times, it has been an encouraging sign in previous Bitcoin bull markets. A trader who held BTC for a year between the first two golden crosses and the one in May 2020 would have earned triple-digit percentage profits. Following the golden cross in October 2023, Bitcoin’s value doubled to new all-time highs of nearly $74,000 in mid-March. However, moving average crossovers are sometimes criticized for being a lagging indicator that traps traders on the wrong side of the market. Bitcoin’s most recent death cross, the opposite of a golden cross, trapped bears on the wrong side of the market, and the price of Bitcoin recovered above $66,000 barely a month later. Buyers will need to push the price above $69,550 to signal a resumption of the upward trend toward the top of the current range at $73,777. There is resistance at $70,000, but it may be crossed. In this scenario, Bitcoin might reach $72,000, but bulls are expected to confront stiff resistance from bears.On the downside, a breakdown might give the bears the upper hand, with the BTC price closing below $65,000. If that happens, Bitcoin could fall below the 50-day simple moving average of $63,254 and then to the critical support of $60,000.On the macroeconomic front, investors will continue to analyze a torrent of central bank commentary following last week’s IMF meetings in Washington, D.C., with Federal Reserve policymakers currently under a blackout period that restricts them from commenting ahead of next week’s interest rate decision.This article was originally published on U.Today More

Another set of EasyA hackathon winners (also known as “gigabrains”) are headed to Y Combinator. Artemiy Malyshau and Jeevan Juttla attended their first EasyA x Polkadot hackathon nearly two years ago, where they first started experimenting with the ideas that would later become Gecko Sec. Today, they’ve just been accepted into the world-famous Y Combinator accelerator, which has backed some of the world’s most successful Web3 companies like CoinBase, Filecoin and many more. According to the team, Gecko Sec lets Web3 developers build secure code quickly without wasting time on tools that don’t deliver results, or relying on one-time human pentests that quickly become outdated. As they continue to develop their groundbreaking software, they’re working on rolling this out for teams building on Polkadot. Writing code that is secure and safe is one of the biggest concerns for Web3 developers, with many millions of dollars spent on security audits every month in Web3 alone.EasyA gigabrains Jeevan Jutla and Artemiy Malyshau credit EasyA with helping them get off the ground and giving them the inspiration to succeed. Artemiy Malyshau also graduated with First Class Honours in Electrical Engineering from King’s College London, one of the UK’s top universities. Shortly after this, he earned a Master’s Degree with Distinction in Applied Computational Science and Engineering from Imperial College University.GeckoSec joins a long list of EasyA hackathon winners who’ve gone on to achieve storied success in blockchain. Other EasyA hackathon winners like Axal, founded by Harvard grad Ashlan Ahmed, have been backed by a16z and are planning to announce their latest fundraising round later this month. To date, EasyA alumni have already founded companies valued at nearly $3 billion. EasyA has received interest from VCs who want access to its startups pipeline. Although it won’t share the precise details yet, EasyA shares that it has its sights set on launching a fund designed to invest exclusively in its gigabrain community and hackathon winners.According to Phil and Dom, they’re just getting started. Numerous high-profile fundraising announcements are coming out of the EasyA community over the coming months.About EasyAEasyA is one of Web3’s most popular apps, making it possible for anyone to learn about Web3 right from their phones. Learners earn rewards for mastering new skills, and the best ones are invited to in-person hackathons to launch their startups in world-leading hubs like San Francisco, London and Singapore. EasyA alumni have founded startups valued at nearly $3 billion and have raised from top VCs like a16z, Founders Fund, YC and many more. Launched by brothers Phil and Dom Kwok, top grads from the University of Cambridge and The Wharton School respectively, EasyA has over 1 million users and has won Apple’s highly-coveted App of the Day award. Users can learn more: https://www.easya.io/ContactDom Kwokdom@easya.ioThis article was originally published on Chainwire More

The proposal has gotten a lot of attention from industry experts, as it challenges Microsoft’s stance on integrating Bitcoin into its financial strategy. Fred Krueger, an investor and mathematician, says that BlackRock (NYSE:BLK) — a big Microsoft shareholder with about 7.45% of the company — intends to take part in the vote. BlackRock, which manages over $10 trillion in assets, is no stranger to the cryptocurrency space. The company has already bought over 400,000 BTC for its Bitcoin ETF. The fund’s role in Microsoft’s upcoming vote will show what it believes is important when it comes to investing, which is putting shareholders first and making sure companies are run properly.While BlackRock has a lot of influence, it is not the only player in town. Vanguard, another big shareholder, also has a big 9.09% stake in Microsoft, which helps keep things fair in decision-making. Interestingly, Vanguard rejected the idea of a Bitcoin ETF at the beginning of the year, arguing that there is no appropriate role for them to play in long-term portfolios. Plus, Microsoft’s own management and board have a lot of say as to the direction the company goes in. So, it will be interesting to see what happens in the December vote, given all these different interests.This article was originally published on U.Today More

Golden crosses have not always resulted in long-term bullish trends for Bitcoin in the past. The fact that a golden cross is a lagging indicator must be understood even though it does occasionally coincide with rising price movements. It does not forecast future market movements; instead, it reflects what has already occurred. By essentially confirming previous price increases, the golden cross indicates that the bullish momentum has already started by the time the cross forms.When examining past golden crosses on the Bitcoin chart we observe a range of outcomes. For instance, there were times when notable rallies followed golden crosses. In other cases, however, the impact was less pronounced, and the price of Bitcoin either remained unchanged or even reversed soon after. It is dangerous to base future price predictions only on the golden cross because of the unpredictability of Bitcoin and its sensitivity to outside influences.Another important consideration is that the golden cross may draw speculative purchases from novice traders who are unaware of its drawbacks. These responses do not always portend a long-term trend change, but they can cause short-term volatility. Instead of depending only on this cross for guidance, traders and investors should take into account additional factors, such as macroeconomic conditions, market sentiment and on-chain data.This article was originally published on U.Today More

Logion platform is carving its own path in the blockchain space by combining digital assets with legally-backed frameworks, transforming these assets into legal evidence. By using what it calls “proof of law,” Logion offers a transparent approach that makes it easier for users to hold digital assets with confidence. The Web3 Foundation, the development agency for Polkadot, dedicates a prize pool of 10 million DOT tokens, roughly $65M, to support the rollout of the Join-Accumulate Machine (JAM) upgrade for the Polkadot ecosystem.For its part, the Decentralized Futures program plans to distribute $20M and 5M DOT tokens to back individuals and teams launching projects that help grow the Polkadot ecosystem. Funding is open to both profit-focused and non-profit Polkadot initiatives with a plan for ongoing financing through Polkadot’s on-chain treasury system beyond 2024. The Web3 Foundation manages the program, providing resources, advocacy, research, and collaboration.To qualify, participants need to meet specific criteria like importing and producing blocks, meeting performance standards on Polkadot, and passing security audits. Logion is focused on making digital assets safer and adding some legal backing to digital transactions. The platform set up a framework that helps users manage cryptographic keys and digital assets in a straightforward way with some legal oversight.One of their main features is a simple recovery system for lost keys, which can be a big relief for anyone worried about private key management. Legal officers play a role in this recovery process, stepping in to prevent fraudulent access and manage inheritance mattersWith Logion, certified professionals like lawyers and accountants can file legally binding documents, reports, and expert opinions. Storage is handled through a decentralized, encrypted IPFS network managed solely by legal officers.This setup aligns with Polkadot’s plans of broadening blockchain adoption by making platforms accessible to everyone—not just tech-savvy users.  More

Crypto prices took some support from improved risk appetite after Israel’s attack on Iran was less severe than feared. Sentiment was also slightly aided by Hong Kong proposing a tax break for crypto and digital assets. But uncertainty over the U.S. election and interest rates still weighed on crypto markets, keeping most major currencies trading in a tight range. Bitcoin rose 0.9% to $67,719.5 by 01:06 ET (05:06 GMT). The world’s biggest cryptocurrency stalled over the weekend as a push towards $70,000 was stalled by a Wall Street Journal report that the U.S. Department of Justice was probing Tether over potential money laundering and sanction violations.Tether is by far the biggest stablecoin issuer, and plays a key role in global crypto trade with its USDT token, which is treated as a dollar analog in crypto markets. Any regulatory action against the firm presents major headwinds for crypto markets.While Tether denied any knowledge of the probe, fears of regulatory action weighed on crypto prices, dragging Bitcoin away from $70,000 over the weekend. Hong Kong officials on Monday proposed regulatory guidelines for using artificial intelligence, which also include potential tax breaks for digital assets. While officials did not reveal specific details on the planned policies, they said that the policies would be implemented by the end of the year. Hong Kong still allows crypto trade, even after China banned the industry in 2021. The city had earlier this year approved spot crypto exchange-traded funds, although their launch had little bearing on broader crypto markets. Broader crypto prices moved little on Monday, with major altcoins moving in a flat-to-low range after clocking losses through last week.World no.2 crypto Ether was flat at $2,482.04, while SOL rose 0.6% after outpacing its peers last week.ADA, MATIC and XRP fell between 0.4% and 2%, while among meme tokens, DOGE rose 3.9%. More

When the 50-EMA crosses above the 100-EMA, it frequently indicates that the market is moving in a positive direction and that the assets short-term outlook is improving relative to its medium-term trend. Despite not having the same hype as a golden cross, this hidden cross may promote bullish sentiment.When short-term buying interest surpasses a longer-term trend, such crossovers typically signal a change in momentum. Traders searching for entry points during periods of strengthening may pay more attention to this shift. Bitcoin is presently holding levels above the upper limit of the prior descending price channel, which has now turned into support while consolidating above a critical resistance level close to $65,000. A gradual move toward higher targets could be set in motion if Bitcoin can maintain its position above this range. The positive developments surrounding Bitcoin extend beyond its technical aspects. The demand for Bitcoin ETFs is growing internationally, which is contributing to the increase in market interest in digital assets. Institutions, big holders and individual investors are closely monitoring these possible catalysts as they assess their market positions. The recent 50-100 EMA crossover indicates increasing bullish momentum in the price structure of Bitcoin, which is a subtle but encouraging sign. The price may eventually support a more substantial rally and move closer to the next important resistance level at $70,000 if Bitcoin keeps up this upward momentum and trading volume rises. The price of SHIB is currently negotiating an area where the Exponential Moving Averages for 50, 100 and 200 days are getting closer. These moving averages usually signal a tightening of the price action when they converge, which may serve as a pressure point for a breakout or a breakdown. This convergence acts as a crucial signal for SHIB and may presage either a significant retracement or another rally. Bulls appear keen to sustain the upward momentum as the price has been driven higher by recent buying interest. But if buyers lose steam, the EMAs convergence close to the current price level increases the chance of a pullback.Pressure is increased by the fact that the cryptocurrency market as a whole is showing conflicting sentiment with some assets rising while others find it difficult to hold onto gains. Because of its high degree of volatility, SHIB’s price may be more affected by any changes in the market as a whole. With the price zones of $0.000017 and $0.0000163 serving as immediate fallback points, a possible retrace might force SHIB toward lower support levels. Conversely, if SHIB is able to sustain its present strength and overcome resistance, it may attempt to reach prior highs, albeit with substantial opposition. Based on an analysis of SOL’s recent price action, the upward momentum appears to be unabated, supported by the recent breakthrough of important resistance levels at $150 and $160. Although Solana’s recent bullish push suggests that the market is becoming stronger, these areas served as formidable barriers for weeks.Nevertheless, there will be difficulties in reaching $200. A number of significant obstacles could impede SOL’s growth. The immediate barrier where historical price action indicates significant selling pressure is the $185 level; $200 would be within reach if there was a clear break above this resistance, but bulls would need to maintain volume and buying interest to prevail. Another encouraging factor is the convergence of moving averages, especially the 50-day and 100-day EMAs, below the current price level. A base has been created by this alignment, enabling SOL to gain strength and possibly break through overhead obstacles.This article was originally published on U.Today More