Traders pause profit taking after Biden’s stimulus push

Bitcoin targets $50k – Traders pause profit taking after Biden’s stimulus push

Bitcoin refreshed its all-time high during the early Asian session on Tuesday as traders assessed the prospects of Joe Biden’s latest push to pass his ambitious $1.9 trillion stimulus package.

The Financial Times reported late on Monday that the US president would make official trips outside Washington to present his Crypto Engine expansionary aid proposal to the public. In doing so, he hopes to pressure Congress to conclude negotiations on the stimulus package – especially as Republicans on Capitol Hill fear that the package would drive up the national debt.

But polls show the US public supports receiving direct payments (some of which include a $1,400 benefit for individuals and extra help for the unemployed and parents) – and so Democrats believe growing public pressure would persuade some Republicans to back Biden’s proposal.

Alliance economist sees bitcoin boom

The news has worked as a headwind to the bearish bias that was renewed earlier this week in the bitcoin market (Massive investment planned!). On Monday, the benchmark cryptocurrency fell as much as 5.79 percent amid intensifying profit-taking among day traders.

A day earlier, it had risen exponentially to a new record high of $49,700 (data from Coinbase).

But on Tuesday, bids for the BTC/USD exchange rate climbed as high as $49,872.
Bitcoin is seeing an extended rally towards $50,000. Source: BTCUSD on TradingView.com.

Mohamed A. El Erian, Allianz’s senior economic adviser, viewed the ongoing rally as a „rational bubble“ driven by inflation fears among retail and institutional investors alike.

He cited a spate of recent corporate investment in bitcoin, including Tesla’s $1.5bn capital injection, as having the credibility to inflate the price bubble even higher.

„In addition to massive central bank liquidity injections, there are now massive fiscal injection prospects at the top,“ Erian told CNBC. „So basically investors feel safe riding what appears to be a massive liquidity wave.“

„You’re going to see more companies [add bitcoin to their balance sheets] because you don’t know how else to mitigate the risk. So it’s part of the distortion of the financial markets that we’re seeing in general,“ the analyst said.

$50.000

Many cryptocurrency analysts now agree that bitcoin would reach a record high above $50,000 this week, although it has failed to close above that target after several attempts.

Ki-Young Ju, chief executive officer at CryptoQuant – a South Korea-based blockchain analytics firm, noted a surge in stablecoins reserves across exchanges. He noted that traders would use the sitting dollar-pegged token supply to buy bitcoin – and other cryptocurrencies.

„This $50k battle is about Coinbase whales(USD) vs. stablecoin whales(USDT),“ the analyst said. „Negative Coinbase premium, but plenty of stablecoins in exchange. Negative premium should be cooled to continue upwards.“

NASA takes advantage of Blockchain technology

 

Beyond Bitcoin and the rest of the crypto currencies, the Blockchain technology is more and more extended all over the world. Being used by companies, organizations and governments to make their processes more efficient and secure. So know that an organization as prestigious as NASA takes advantage of the Blockchain technology for their equipment. It is the proof of the value of the block chains all over the world.

How is the Blockchain helping the development of nuclear energy?

Blockchain technology outside the crypto world
The Blockchain technology is much older than Bitcoin and crypto currencies. However, until the birth of BTC eleven years ago, blockchains were not widely known as they are today. On the contrary, for those who experimented with this technology, the Blockchain was little more than a curiosity.

This changed thanks to Bitcoin, because as cryptomoney became more and more famous worldwide. So did the technology that allows it to work. Leading to governments and large companies becoming interested in it. With the objective of creating their own virtual currencies, or simply to take advantage of the chains of blocks in their organizational processes.

Thanks to this we see large companies like Wells Fargo, or governments like the Chinese launching their virtual currencies outside the crypto world. As military and civil society organizations also begin to implement the chains of blocks for the transfer of information. This being the case of NASA, the US space agency that will begin to use Blockchain technology.

Vitalik Buterin: China’s Blockchain may not gain international confidence

NASA will take advantage of the block chains
Thus, according to a document from the space agency, NASA would be working with the companies Orbit Logic and Fraunhofer USA Center for Experimental Software Engineering. For the creation of a system based on Blockchain technology known as SCRAMBL, which would increase the efficiency of communication between satellites.

The value of the contract for the creation of this Etoro mechanism would be $124,800, and it is expected to be completed within 4 months. Beginning work to facilitate communication for NASA’s fleet of quadricopters. Allowing it to move in unison more easily and safely, even in hostile environments such as those presented by other planets.

In this way, thanks to the use of SCRAMBL, even if the NASA quadricopter fleet were to lose any of its devices at some point. The rest of the unmanned vehicles could easily adapt and continue flying, despite the loss of one of their companions.

With this project, NASA would be demonstrating the importance that Blockchain technology can have, for the development of efficient solutions for problems such as space communication. Thanks to the versatility of the blockchains, which allows them to adapt to different objectives and industries.

Bitcoin Volatility Now in Line with S&P 500’s After Volume Dropped 50% em junho

Enquanto as ações de tecnologia estão em alta este ano, as ações dos bancos estão afundando. O Bitcoin Era, entretanto, permanece estável, embora possa ver uma quebra maciça acima de US$ 10.500.

Os mercados tradicionais estavam loucos ontem, os gostos da Apple e da Amazon subiram ao seu nível mais alto de todos os tempos e chegaram a valorizações de US$1,5 trilhão. As ações da Tesla também subiram diretamente. E no mercado criptográfico, Chainlink fez uma nova ATH.

Este ano, enquanto as ações de tecnologia têm subido muito, as dos bancos afundaram. Além disso, o maior fundo de pensão do mundo, o Fundo de Investimento em Pensões do Governo Japonês (GPIF), relatou uma perda trimestral recorde de 17,71 trilhões de ienes ($164,74 bilhões) em janeiro-março.

A empresa de pagamento digital, Square, também se recuperou 13% na segunda-feira depois que um analista sugeriu que poderia ganhar até 20% das contas de depósito direto nos EUA.

A Square, que permite aos usuários comprar e vender bitcoin, viu sua avaliação de mercado dobrar desde maio para $55 bilhões e agora vale mais do que a Trust Financial Corp. Enquanto a empresa ainda é anã dos grandes bancos JPMorgan e Bank of America, ela está a menos de US$ 20 bilhões da avaliação de mercado da Goldman Sachs.

A principal moeda criptográfica do mundo, que tem um limite de mercado de US$ 170 bilhões, também subiu, mas apenas cerca de 3,3%, para US$ 9.375. E hoje, estamos de volta a menos de US$ 9.250.

Esta negociação lateral em bitcoin, no entanto, certamente está se tornando um fator de alta para altcoins, especialmente as fichas DeFi.

Volume e Volatilidade

A volatilidade do bitcoin também caiu para uma baixa recente, após um pico em sua volatilidade em meados de março durante o auge da incerteza global em meio à crise da COVID-19.

Com o preço do BTC pairando em torno de $9.000, sua volatilidade caiu em linha com a do S&P 500. Mas a volatilidade moderada significa que as faíscas poderão se seguir em breve.

O volume comercial „real“ estava atualmente em $1,3 bilhões, um pouco mais alto do que nas últimas semanas, quando caiu abaixo de um bilhão de dólares.

No mês passado, o volume caiu drasticamente e registrou apenas metade do volume diário visto no mês anterior, segundo um relatório da CryptoCompare. Binance e OKEx continuaram a ser os melhores jogadores por volume.

Mesmo a negociação do BTC em USDT caiu 56% em junho, assim como USD (44%), JPY (38%), EUR (45%), e KRW (50%).

Não foi apenas o volume spot; o volume futuro de CME caiu 23% em junho em relação a maio, enquanto os derivativos criptográficos tiveram seu menor volume mensal em 2020. Mas enquanto o volume de derivativos criptográficos caiu 35,7%, o volume à vista caiu 49,3%.

No entanto, o total de opções da CME atingiu seu pico de 8.444 contratos, que cresceram 41% desde maio, quando foram negociados 5.986 contratos de opções.

Temporada Alt, Mercado Bull

A rede Bitcoin, entretanto, permanece saudável e os indicadores na cadeia apontam para um estado otimista. Mesmo as baleias bitcoin têm levado para o HODLing com sua população vendo seu maior período de „maior período de crescimento sustentado desde 2016“.

Em termos de preço, o comerciante Crypto Gainz aponta „BTC em resistência e mercados legados possivelmente recuando um pouco“, como tal, ele levou a continuar negociando defensivamente até que „a validação da continuação em alta“ chegue.

Enquanto isso, o comerciante Crypto Michael acredita que o cenário contínuo no mercado de altcoin continuará durante todo o mês de julho até o início de setembro. Quanto ao Bitcoin, ele vê uma quebra maciça acima de $10.500, que poderia levar o ativo digital a $14.000 – $16.000 apenas para passar por um período de correção no quarto trimestre de 2020.

„Janeiro de 2021 -> próxima temporada de altseason. Mercado de touros“, disse ele.

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Vielzahl von Spielen

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