Have DeFi YFI and YFII tokens bottomed out?

The YFII token trades between the support at $ 1,220 and resistance at $ 1,950.

YFI token regained resistance at $ 13,000.

The DeFi Index broke a line of descending resistance

Both DFI.Money ( YFII ) and Yearn.Finance ( YFI ) prices broke a descending resistance line, before regaining a significant level of support shortly thereafter.

There may be several Bitcoin Era tokens that have bottomed out after a long decline, with many starting to rally.

The YFII token price has been rising from its low of $ 970 on November 5. Shortly after descending to that level, price returned to the $ 1,240 area and broke through a descending resistance line, reaching a local high of $ 1,959.

The YFII was however rejected by the $ 1,960 zone after validating it as resistance. This zone corresponds to the fibonacci level 0.618 of the entire downward movement

The technical indicators are relatively bullish, knowing that the MACD line has crossed above 0 and the RSI has crossed the 50 mark. Thus, as long as the price moves above the support zone of $ 1,240 , it is expected to continue to rise. He should then end up attempting to pass his resistance again.

Cryptocurrency trader @devchart pointed to a YFI chart, showing a possible bullish pennant figure. He further asserts that the price could soon exceed this figure.

Similar to the YFII, the price of the YFI also broke a downward resistance line. It then regained support at $ 13,000 soon after.

The pennant is seen as a figure of bullish continuity. Knowing that it appeared as a result of an upward movement, one would expect this to result in a passage over this figure.

If the price breaks the flag and continues to rise, it could reach its next resistance zone at $ 21,000.

Bitcoin Mining in Iran has a new buyer

The Central Bank of Iran is said to be buying large quantities of Bitcoin from mining farms within its national territory.

The Bitcoin miners on the territory of the Islamic Republic of Iran would be selling their coins to the Central Bank. According to information published in the state agency ISNA, the executive branch is said to have issued new regulations.

The miners are said to have been offered to sell their money at Bitcoin to the Central Bank of Iran. In this way, the Persian country is seeking to provide itself with the exchange capacity to buy goods abroad. This is a manoeuvre by the authorities to boost its weakened trade with the outside world.

It should be remembered that the United States resumed its punitive measures against Teheran in 2018. These are mainly based on sanctions and prohibiting third parties, under threat, from trading with Iran.

Bitcoin mining as a lifeline for Iran

Iran’s action to buy the production of Bitcoin mining farms within its territory is a desperate action. It seeks to ease the burden of US trade aggressions. The channelling of the crypto-currencies would enable the nation to import goods for its population, explains USINT.

Another important aspect to mention is that, as a result of the blockade, Iran’s foreign currency reserves are running out. The country’s main export product, oil and its derivatives, has no buyers. This is because the US considers any kind of trade relationship with Tehran a „crime“.

Meanwhile, Iran’s oil reserves are full, which has forced them to lower production to avoid saturation. As a result, the national currency (IRR) is depreciating owing to the shortage of commodities that can no longer be imported.

Seeking a solution in Bitcoin mining has been Iran’s most recent step to remedy this situation.

Until recently, Bitcoin mining was pursued by Tehran. However, it was legalised under strict government supervision, but the veto on trade with this cryptomint remains in place.

Cheap energy for miners

An important feature of Tehran’s situation is that energy reserves are not exported. As such, they are now used for domestic industry. Bitcoin mining in Iran has become one of the major beneficiaries of the low cost of mining.

However, as a condition, miners must submit to certain regulations imposed by the executive. The most recent of these is the edict, in which the Persian energy minister himself, Reza Ardakanian, asks legally registered miners to sell all their tokens to the Central Bank of Iran (CBI).

Iran’s actions are similar to those taken by its partner Venezuela regarding the mining of Bitcoin. This South American nation, in similar conditions as Iran, has been strongly hit and its economy ruined as a result of the punitive measures of the USA in commercial and political matters.

As a possible solution, Caracas has advanced a project to create a national pool for Bitcoin mining activities. According to article 19 of Providence 084-2020, published in Gaceta Oficial 41.969, the affiliation of the miners to this pool will be compulsory.

Sanctions increase

In addition to the existing sanctions, on 8 October the US announced a new package of punitive measures against 18 Iranian banks. This prevents Iran from using any amount of USD it has in its reserves.

In response, Tehran has reportedly been negotiating to adopt China’s Yuan as its reserve currency. This would allow the economy to revive with the revenues from the international market. However, as that time comes, the country requires a currency to settle its operations.

Bitcoin’s qualities are a tool to avoid this type of action by governments that control traditional finances. Although no details were given of the amount the BCI will use to buy Bitcoin from mining farms, all indications are that it will not be very favourable.

Concerns in the US

The use of crypto-currency to avoid the effects of punitive measures is a constant concern for the US. In this respect, the fact that its economic aggression, aimed at maintaining economic hegemony, is not having any effect could be a „bad example“ of how to make more nations autonomous in their affairs vis-à-vis Washington.

In this connection, in a speech to the Council on International Relations in December, the US special envoy for Iran, Brian Hook, warned of Iran’s steps. „The regime is struggling to acquire international currency, which it needs to import goods such as machinery, industrial products and consumer goods.

Bitcoin mining, in that sense, would be the main source of foreign currency for the Persian government at the moment. „Miners must be willing to supply the BCI directly with cryptom currencies and under the authorized limits,“ the report concludes.

Data to be considered

  • Iran’s international reserves have plummeted by 33 per cent in less than two years.
  • Since the US broke off the nuclear agreement with Iran in 2018, the Persian nation has suffered significant limitations on its trade.
  • Iran officially legalized Bitcoin mining in August 2019. At the same time, it banned trade in crypto coins.
  • By supplying the BCI with crypto coins, the country will have more options for importing the products for its economy and population.

The trader told us when to expect the bitcoin price to continue rising.

Financial market forecasts are the private opinion of their authors. The current analysis does not constitute a trading guide. ForkLog does not assume any responsibility for the results that may arise from the use of the trading advice provided in the reviews.

The current market situation is described by trader Ilya Meshcheryakov.

Yesterday was not the most successful day for the first crypt currency – from its global highs the price fell by almost $1000. This is not just the biggest daily decline in recent months, but in principle the deepest fall in the trend that began on October 8 when the global triangle broke through.

Today’s bitcoin and the entire market also started with a decline, even temporarily succumbing to the psychological mark of $13,000. The cryptovoltaic market is under strong pressure from changes in investor behaviour – the March „flash backs“ caused active sales not only on stock exchanges, but also on the oil market, where for the second day in a row there were 5% negative.

 

October’s upward trend (beginning marked by a green arrow) with a red correction yesterday. BTC/USDT hour chart from TradingView.

This is the thought I am trying to convey the last few reviews: no matter how strong BTC is here and now, it still has to „look back at the explosions“ behind it. Bitcoin is not a Hollywood actor, but a real market asset, subject to the laws of supply and demand.

From a statistical point of view, BTC rarely returns to a medium-term upward trend after a significant drop, it is more inclined to move in an accumulation-pulse format. However, buyers are still active around $13,000, and one should not forget the strong support area of $12,700-$12,800, which made it possible to take a maximum of this year.

Technically everything, as well as last time, will dare near marks $12 800 – its breakdown means not only operation of stop orders and liquidations of buyers, but also activation of sellers. At the same time, even in the case of a sharply negative scenario, BTCs may be held in the price channel before declining, as previously quite large positions were gained.

 

The local support zone (highlighted in blue) with high buyer activity. BTC/USDT hour chart from TradingView.

Altcoins feel bad, there is a strong impression that capital for new price peaks is no longer available, BTC domination is firmly above 62% and continues to rise. They are often noticed during periods of flute or a slight decrease in bitcoin, so that a slight increase can still be seen.

So what do we have in the dry residue? Structural problems are growing, and investor behaviour is not changing in favour of risk assets, but the markets (stock indices, oil) that are adjacent to Bitcoin during crisis periods have accelerated the fall. Technically important markers are still stable, but this can change at any time, so short-term trading with risk limits remains a priority strategy.

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Latin America: Bitcoin ATMs are booming, especially in Colombia

The country is relatively new to crypto adoption, but is quickly gaining momentum.

Colombia now has the largest number of Bitcoin ( BTC ) ATMs in Latin America

According to CoinATMRadar, there are over 34 ATMs in Bogota, the country’s capital, followed by Medellin with 11 and Bucaramanga and Cali with 4. Other cities with at least one ATM are Armenia, Barranquilla, Cartagena, Cúcuta, La Hormiga and Pereira.

Until recently, due to political and economic unrest, countries like Venezuela and Argentina were discussed more often than crypto hotspots with regard to regional acceptance. However, Colombia has taken important steps to regulate the country’s crypto industry. The government approved a pilot program to test crypto transactions back in September .

The pilot, which runs in a recently introduced regulatory sandbox, runs through December 31st

In September the Colombian Ministry of Information Technology and Communications (MinTIC) published a draft guide . It called on the public sector to use blockchain technology and crypto payments.

In August , Statista published a study that showed that the adoption of cryptocurrencies in Brazil, Colombia, Argentina, Mexico and Chile had reached double digits.

Bitcoin-prijs heeft slechts 93 dagen boven $ 11.500 doorgebracht

De prijs van Bitcoin staat al 93 dagen boven de huidige $ 11.500. Is dit een geschiedenisles of geeft het de ruimte voor groei aan?

Terwijl de prijs van Bitcoin rond de $ 11.500 schommelde, gaven recente gegevens aan dat het actief slechts ongeveer drie maanden van zijn bestaan ​​boven dat specifieke niveau had doorgebracht.

BTC: slechts drie maanden boven $ 11,5K

De officiële lancering van de allereerste cryptocurrency kwam begin januari 2009. Bitcoin, geboren tijdens de laatste enorme financiële crisis, was dit „magische geld“ dat in de beginjaren eigenlijk geen aandacht van betekenis had. Bijgevolg handelde de prijs een tijdje in de buurt van nul.

Sindsdien begon The News Spy echter grip te krijgen, wat uiteindelijk resulteerde in ernstige volatiliteit door de jaren heen. De enorme schommelingen brachten het actief naar een recordhoogte in december 2017 van bijna $ 20.000, en slechts een jaar later zag BTC zijn prijs onder $ 4.000.

Twee jaar vooruitspoelen en Bitcoin staat momenteel rond $ 11.500. Hoewel dit niveau bijna twee keer zo laag is als het hoogste punt ooit, lieten recente gegevens van het analysebedrijf Skew weten dat BTC niet veel tijd boven de $ 11.500 had doorgebracht.

Om precies te zijn, de prijs van BTC schommelt sinds januari 2009 slechts 93 dagen (of drie maanden) boven $ 11.500

Afgezien van de bovenstaande gegevens, heeft de hash-snelheid van Bitcoin een aanzienlijke boost gekregen, zelfs na de voltooiing van de derde halvering in mei. Zoals CryptoPotato onlangs meldde , bereikte de metriek die de rekenkracht meet die mijnwerkers gebruiken om transacties op de BTC-blockchain te valideren een nieuw record van 170 exahashes per seconde. Dit betekende een stijging van 40% in de vijf maanden na de halvering.

Hoewel de hash-snelheid niet gecorreleerd is met de prijs, suggereerde een ander rapport een aanstaande prijsverhoging. Door aan te geven dat Bitcoin-walvissen, dat wil zeggen entiteiten met ten minste 1.000 munten, de accumulatie hebben vertraagd, beweerde Glassnode dat dit uiteindelijk een bullish teken zou kunnen zijn voor de activaprijs.

Historisch gezien heeft dit, zodra walvissen zijn gestopt met het kopen van enorme hoeveelheden, geleid tot een kans voor particuliere investeerders. Volgens het analysebedrijf bevindt Bitcoin zich mogelijk in het ‚begin van een aanloop naar een markttop‘.

EURJPY-Preis testet Support-Level von $122

EURJPY-Preis testet Support-Level von $122, Umkehrung ist möglich

Bärisches Momentum wird schwach

Die rückläufige Bewegung der vergangenen Woche könnte ein Rückzug auf den langfristigen Trend sein. Der Preis könnte bei der $122-Marke springen, um den Aufwärtstrend fortzusetzen, falls die Bullen die Unterstützungsmarke verteidigen, und er wird in Richtung der Widerstandsmarken bei $124, $125 und $126 steigen.
EURJPY-Markt

Schlüssel-Ebenen:

  • Versorgungsstufen: $124, $125, $126
  • Nachfrageniveaus: $122, $121, $120
  • EURJPY Langfristiger Trend: Bärisch

Der EURJPY-Markt ist auf der Tages-Chart rückläufig. In den letzten zwei Wochen dominierten die Bullen den Markt unmittelbar nachdem der bei Bitcoin System Preis die Unterstützungsmarke bei $122 erreicht hatte. Der Preis steigt dann in Richtung der Widerstandsmarke von $125, nachdem er die $124-Marke durchbrochen hat. Die Bären unterbrachen den weiteren Preisanstieg mit der Bildung einer rückläufigen einhüllenden Kerze. Das Währungspaar stand in der vergangenen Woche unter dem Abwärtsdruck, und der Preis fällt auf das in den letzten zwei Wochen vorhergehende Tief von 122 $.

EURJPY Tages-Chart, 16. Oktober

Die schnelle Periode des EMA (9) hat die langsame Periode des EMA (21) nach unten durchschritten, was in Verbindung mit dem Handel unterhalb der beiden EMAs ein Anzeichen dafür ist, dass die Bären den Markt dominieren. Die rückläufige Bewegung der vergangenen Woche könnte ein Rückzug auf den langfristigen Trend sein. Für den Fall, dass die Bullen die Unterstützungsmarke verteidigen, könnte der Preis bei $122 abprallen und in Richtung der Widerstandsmarken bei $124, $125 und $126 ansteigen, um den Aufwärtstrend fortzusetzen. Unterhalb der Nachfragemarke bei $122 liegen die Marken $121 und $120.

EURJPY ist in der mittelfristigen Perspektive bearish. Der Preisanstieg wurde von den Verkäufern bekämpft, bevor er die Widerstandsmarke bei $125 erreicht. Der Preis kehrt um und sinkt, um das Unterstützungsniveau laut Bitcoin System bei $122 zu testen. Das rückläufige Momentum wird schwach und der Preis könnte springen, um den zinsbullischen Trend fortzusetzen.

EURJPY wird unterhalb der 9 Perioden EMA und 21 Perioden EMA gehandelt und die beiden EMAs folgen dem Trend des Kurses. Die Periode 14 des Relative-Stärke-Index beugt sich auf 40 Niveaus nach unten, um ein Verkaufssignal anzuzeigen. Nächste Woche können Händler einen Kauf-Stopp bei $123,821, Gewinnmitnahmen bei $125,295 und Stop-Loss bei $122,825 platzieren.

La traiettoria del Bitcoin dovrebbe avvicinarsi a uno stato simile all’oro: Segnala

Secondo il rapporto Crypto Outlook di Bloomberg dell’ottobre 2020, è probabile che Bitcoin si comporti bene se la volatilità del mercato azionario persiste.

  • Un rapporto di Bloomberg diceva che la Bitcoin è sulla buona strada per raggiungere i 100.000 dollari entro il 2025.
    L’andamento volatile delle azioni sta facendo aumentare l’interesse per la criptovaluta.
  • Tuttavia, gli investitori istituzionali vogliono ancora una maggiore chiarezza normativa e un aumento del limite di mercato, ha detto un altro analista a Decrypt.

Mentre il mercato azionario continua su un percorso di volatilità

Mentre il mercato azionario continua su un percorso di volatilità, gli investitori si stanno avvicinando a Bitcoin Trader in modo simile ad asset come l’oro, secondo un rapporto di Bloomberg. Sulla base delle tendenze storiche, il prezzo del Bitcoin è ora sulla buona strada per raggiungere la soglia dei 100.000 dollari entro il 2025.

Il rapporto, l’edizione del quarto trimestre del Bloomberg Crypto Outlook, mostra che il Bitcoin beneficerà probabilmente di un mercato azionario sempre più volatile e sarà trattato come un deposito di valore, come i metalli preziosi.

„In un anno in cui i prezzi delle azioni statunitensi hanno raggiunto il più alto mai raggiunto il limite massimo di mercato rispetto al PIL, a ridosso del limite di mercato più alto dai tempi della Grande Depressione, è logico aspettarsi che la maggior parte delle attività sia sempre più soggetta al traballante mercato azionario“, dice il rapporto del senior commodity strategist di Bloomberg Intelligence Mike McGlone.

Il rapporto osserva che il prezzo del Bitcoin, che è salito in un periodo di quattro anni da circa 1.000 dollari nel 2013 a 10.000 dollari nel 2017, potrebbe raggiungere i 100.000 dollari entro il 2025. Ciò significa che il Bitcoin potrebbe raggiungere il suo massimo del 2019 di 14.000 dollari già quest’anno. „Oppure,“ dice, „la nuova tecnologia potrebbe fallire, ma i nostri indicatori della domanda sono positivi“.

Il rapporto osserva che il limite di mercato del Grayscale Bitcoin Trust si stava „avvicinando a 500.000 partecipazioni equivalenti a Bitcoin“, una cifra che è più del doppio rispetto allo stesso periodo di un anno fa.

McGlone afferma inoltre che la Bitcoin, come l’oro, sta vedendo un aumento della domanda a causa della crescente volatilità del mercato azionario. Cita anche un grafico che mostra la più alta correlazione tra Bitcoin e oro a 12 mesi nel database della BI dal 2010.

Spencer Mindlin, analista del settore dei mercati dei capitali di Aite Group

Spencer Mindlin, analista del settore dei mercati dei capitali di Aite Group, ha rifiutato di commentare l’obiettivo di prezzo, ma ha detto a Decrypt che ciò che guiderà realmente la domanda è l’assorbimento istituzionale, una volta che ci sarà un maggiore livello di comfort con le dimensioni e l’ambiente generale che circonda la classe di attività.

Ha affermato che ci sono due aree principali che gli investitori istituzionali stanno cercando in termini di maggiore chiarezza. La prima è il market cap.

„Il market cap deve diventare più grande per poter prendere qualcosa di degno di nota per gli investitori istituzionali tradizionali“, ha detto. „Se il market cap non è lì per sostenere l’allocazione dell’1%, non ne prenderanno nota“.

Il secondo fattore chiave per Mindlin comprende questioni come la facilità di accesso al mercato e l’istruzione. Ha detto che gli investitori non sono ancora del tutto a loro agio con la chiarezza normativa, la sicurezza degli asset e le questioni correlate.

Ma se il prezzo continua sulla sua traiettoria attuale, gli investitori potrebbero sentirsi a proprio agio a prescindere.

The battle of the bank cards that pay you in Bitcoin – Wirex raises £3.7 Million

An advantageous partnership for Wirex – Wirex is a company that offers cryptos bank cards. Building on its recent partnership with MasterCard, the company has just raised more than $3 million through equity financing.
1 million in 30 minutes

That’s it! The crowd equity campaign launched by Wirex has just come to an end. It allowed investors to finance the project while obtaining shares in it. Wirex hoped to raise £1 million by offering £9.24 shares. In fact, the campaign went better than expected, and £3.7 million was raised from 6,928 investors.

Details of the fundraising, conducted in crowdequity.

It had started with a bang. Indeed, it took only 30 minutes for Wirex to reach the million pounds initially set.

„It’s an important milestone to have achieved our initial plan to raise £1 million so quickly, but it’s not surprising given that we’ve already developed a pioneering platform that allows users to buy, hold, trade and spend multiple traditional and cryptographic currencies seamlessly. We have decided to expand our fundraising to give everyone the opportunity to invest and play a role in Wirex’s extraordinary adventure, sharing our vision to take the company to the next level and bring cryptography to the mainstream. „Pavel Matveev, CEO of Wirex, in a press release.

This fund raising came three years after the previous one, during which Wirex raised the equivalent of £2.45 million from the Japanese financial group SBI Holdings.

Our opinion on Wirex

Partnership with MasterCard is making an impact

In July of this year, Wirex became the first crypto company to achieve MasterCard Master Member status. This status allows the company to issue bank cards directly without having to go through a third party service.

Binance credit card

It should also enable Wirex to offer other financial services in the future, as this preferential status is highly disputed within the cryptosphere. This historic partnership has likely attracted a number of investors to take part in the fundraising.

A floating Bitcoin hub is being built on the former cruise ship

Crypto fans on board! Not far from Panama’s coast, a floating Bitcoin hub is being built on a former cruise ship.

Ocean Builders has acquired a former cruise ship. The special thing about it:

The pleasure boat will be called „Satoshi“ in the future and is to be converted into a refuge for Bitcoin companies and digital nomads in the Gulf of Panama.

With the Arbismart wallet and arbitrage trading platform, thousands of investors earn passive income (10.8-45% per year). The fully automated crypto arbitrage platform offers low risk, high return investments. ArbiSmart is EU licensed and regulated.

Ocean Builders manufactures „floating, off-grid residential units at sea“. In particular, its Chief Operating Officer, Chad Elwartowski, is according to the Maritime Executive – a news portal for the shipping industry – a fan of „sea reading“ . Seasteaders advocate the creation of habitats at sea, beyond government control. Elwartowski, who is a key investor at Satoshi , is also a Bitcoin enthusiast. He describes the aim of the ship project as follows:

We look forward to creating a hub for technology and innovation here in Panama. It is our goal to find out how to live sustainably on the sea and break new ground in this new territory.

Ship conversion as a result of Corona

The fact that the cruise ship formerly known as Pacific Dawn will be a Bitcoin hub in the future is a consequence of the corona pandemic , which has hit the cruise industry hard. The Carnival Cooperation group therefore sold the 91-year-old boat in order to consolidate its own fleet.

Ocean Builders takes possession of the ship on November 4th. It is to be operated in cooperation with the cruise management company Columbia Cruise Services.

Cabins in the Bitcoin Hub available soon

Ocean Builders wants to turn the Satoshi into a high-tech innovation center. Bitcoin start-ups should be given the opportunity to use their technologies in a „controlled environment“. In addition to office space, the ship is also designed as a place of residence. To this Elwartowski:

Our idea for families with children is to buy a room with a balcony or a sea view for the parents and a cheaper room across the hall for the children. We’d like to think of the cabin as a bedroom while your living room is the rest of the ship.

Les investisseurs affluent sur la scène DeFi en Inde, des mois après l’annulation de l’interdiction de la banque centrale

six mois après l’annulation par la plus haute juridiction indienne d’une interdiction bancaire visant les sociétés de cryptographie, les investisseurs ont saisi l’occasion de soutenir des projets de financement décentralisé (DeFi) provenant du sous-continent.

Les protocoles DeFi UniLend Finance et PlotX ont annoncé mardi qu’ils avaient tous deux achevé avec succès leur cycle d’amorçage.

UniLend, un protocole de prêt, a levé 3,1 millions de dollars lors d’un tour mené par Woodstock Fund, qui compte dans son portefeuille le fournisseur d’oracle de données, Band Protocol.
Divulgation : l’auteur de cet article a déjà travaillé pour l’un des investisseurs d’UniLend, mais n’a pas de relation actuelle.
Pendant ce temps, la plateforme de prédiction du marché de DeFi, PlotX, a levé 2,4 millions de dollars d’amorçage, y compris un engagement de NGC, dont le portefeuille s’étend d’Algorand à Zilliqa.

L’attrait de DeFi pour les investisseurs s’est rapidement accru, puisque la valeur totale bloquée (TVL) a plus que décuplé au cours de l’été, selon DeFi Pulse.
Au cours des dernières semaines, Linear Finance a finalisé une mise de fonds initiale de 1,8 million de dollars, et Dune Analytics, qui est spécialisé dans la fourniture de données sur l’espace DeFi, a levé 2 millions de dollars.

Les levées de fonds pour UniLend et PlotX arrivent au moment où l’industrie locale des monnaies cryptographiques retrouve ses marques après que la Cour suprême de l’Inde a annulé une interdiction de deux ans, imposée par la Banque de réserve de l’Inde (RBI), qui empêchait les sociétés de monnaies cryptographiques d’accéder aux services financiers classiques.
S’adressant à CoinDesk, un porte-parole d’UniLend a déclaré que la levée de l’interdiction faisait partie d’un dégel plus large, le gouvernement indien devenant „de plus en plus progressiste“ sur la question des cryptocurrences et de la chaîne de blocage.

Le porte-parole a ajouté que les investisseurs se tournent vers l’Inde comme plaque tournante pour de nouveaux projets prometteurs de chaînes de blocage.
„Avec une base aussi solide de talents de développeurs et une communauté d’enthousiastes de la cryptographie en pleine croissance, l’Inde est sur le point de devenir un centre d’innovation de premier plan dans le domaine des chaînes de blocs et les gens le reconnaissent de plus en plus“, ont-ils déclaré.