Bitcoin Price (BTCUSD) Sinks on Rate Hike Concerns, SEC's Crypto Scrutiny - cyptoranking.com

2024-05-11

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Opting out isn’t really opting out. Miners have the choice to not participate in sidechains, but they will generate income from all sidechain activities and that activity still is happening and tied to the main bitcoin network. Put simply, the implementation of drivechains would create additional issues for miners simply by running their standard operations. What if a miner wishes to abstain due to regulatory anxieties? What if certain sidechains engage in untrustworthy behavior? Ignoring legal or regulatory issues isn’t a feasible option for many miners, particularly those operating publicly in the U.S, which accounts for over 34% of the network according to Miner Mag. “I am confident that Unity is well-positioned to continue enhancing its platform, strengthening its community of customers, developers, and partners, and focusing on its growth and profitability goals,” said Whitehurst in a statement. Bitcoin Price (BTCUSD) Sinks on Rate Hike Concerns, SEC's Crypto ScrutinyAXS is reshaping the GameFi landscape by providing a platform that merges gaming and finance. By rewarding players with AXS tokens for playing the game, Axie Infinity has introduced a new business model that benefits gamers and investors. In the near future, crypto mining will almost assuredly remain a part of the crypto and blockchain sector. However, over the long term, there are some questions about the sustainability of crypto mining, especially for coins such as Bitcoin that have a limited supply.

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So, what do we need to get started? Obviously, we first need to acquire an Orange Pi 5 board, a 5V USB-C power adapter capable of at least 10 Watts (2 Amps), along with an additional cooling as the CPU gets hot while mining as you should already know, then we also need a 16GB/32GB micro-SD flash card with a card reader. Do note that we don’t need the more complex, feature rich and expensive Orange Pi 5 Plus variant for mining or the 5B wit WiFi module, nor do we need more than the cheapest 4GB RAM version of the Orange Pi 5 board (it is available with up to 32 GB RAM). The official white power adapter capable of 5V 4A is fine for the purposes we are going to use the device, so you can get that one or skip the extra cost if you already have a 5V capable of 2A or more USB-C power adapter sitting unused. As for cooling, there are a number of options available, though the GeeekPi Orange Pi 5/5B Cooling Fan with Heatsink does seem to be a popular solution for active cooling that does the job well, even though it could’ve been made even better and more efficient. You would also need an ethernet cable to connect the Orange Pi 5 to a router or a switch for Internet connectivity, since we are not using the more expensive 5B versions that has an extra WiFi adapter, although you might want to go for that one and ditch the cables as well and go the wireless way. OpenSea launches creator studio Best Cryptocurrency Trading Platform in UK 2023You can now do a test run with ./ccminer -c config.json in order to see that everything will be running just fine, before you configure the Orange Pi 5 to automatically start the miner on every start by taking advantage of the crontab functionality of Linux. If running the miner manually results in normal operation, then you can proceed to configuring crontab by running: Athletes and others were able to “experience the safety and convenience” of the coin “first-hand” at the games, which concluded on October 8.

A Transformative Convergence The failure of the bears to sink Bitcoin’s price below $25,000 support ignited buying interest last week. The positive momentum picked up further at the start of the new week, and buyers are trying to sustain Bitcoin’s (BTC) price above $27,000.Market participants seem to be buoyant on expectations that the Federal Reserve will not hike rates again this year. The CME FedWatch Tool shows a 58% probability that the Fed funds rate will remain at the current level even in the December meeting.Daily cryptocurrency market performance. Source: Coin360That could be one of the reasons why the strength in the United States Dollar Index (DXY) has not adversely impacted the price of Bitcoin. However, traders need to be careful, as the last 10 days in September are known to favor the bears. According to the Carson Group, the S&P 500 Index (SPX) has been positive on average only for two days between Sept. 20 and 30 since 1950.Could Bitcoin and select altcoins extend their recovery further, or will bears pull the price lower? Let’s analyze the charts to find out.S&P 500 Index price analysisThe S&P 500 Index broke above the moving averages on Sept. 14, but the bulls could not keep up the momentum and clear the overhead hurdle at the downtrend line.SPX daily chart. Source: TradingViewThe bears sold aggressively at the downtrend line and pulled the price back below the moving averages on Sept. 15. Sellers will try to further strengthen their position by pulling the price below the next support.If bulls want to gain the upper hand, they will have to quickly drive the price above the downtrend line. There is a minor resistance at 4,542, but if this level is crossed, the index could sprint toward 4,607.U.S. Dollar Index price analysisThe U.S. Dollar Index has continued to grind higher in the past few days, but it is likely to face stiff resistance at 106.DXY daily chart. Source: TradingViewIf buyers do not allow the price to dip below the 20-day exponential moving average (EMA) at 104, it will enhance the prospects of a rally above 106. If that happens, the index could pick up momentum and soar to 108.Alternatively, if the price turns down sharply from 106, it will suggest that bears are defending this level aggressively. A drop below the 20-day EMA could sink the price to the 50-day simple moving average (SMA) of 102. That could keep the price stuck between 101 and 106 for some more time.Bitcoin price analysisBitcoin has maintained above the 20-day EMA ($26,394) since Sept. 14, indicating that the bulls have flipped the level into support. Buyers are trying to strengthen their position further by pushing the price above the 50-day SMA ($27,255).BTC/USDT daily chart. Source: TradingViewThe bears are expected to pose a strong challenge in the zone between the 50-day SMA and the overhead resistance at $28,143. If the price turns down sharply from this zone, it will indicate that the BTC/USDT pair may stay range-bound between $24,800 and $28,143 for a few days.On the other hand, if bulls drive the price above $28,143, it will clear the path for $30,000 and $31,000 as the next targets. Overall, time is running out for the bears. If they want to regain control, they will have to quickly yank the price back below the 20-day EMA. Ether price analysisAfter struggling near the 20-day EMA ($1,639) for the past few days, the bulls succeeded in pushing Ether (ETH) above the overhead resistance on Sept. 18.ETH/USDT daily chart. Source: TradingViewThe 20-day EMA is flattening out and the relative strength index (RSI) is near the midpoint, indicating that the bulls are on a comeback. If buyers sustain the price above the 20-day EMA, the ETH/USDT pair could first rise to the 50-day SMA ($1,712) and thereafter to $1,750. A break above this level will signal a short-term double bottom. The pattern target of this bullish setup is $1,959.However, the bears are likely to have other plans. They will try to tug the price back below the 20-day EMA and trap the aggressive bulls. A break below $1,600 could start a downward move toward presumably strong support at $1,531.BNB price analysisBNB (BNB) rose above the 20-day EMA ($215) on Sept. 17, indicating that the bearish momentum is weakening. The price could next reach the 50-day SMA ($224).BNB/USDT daily chart. Source: TradingViewThe bears are likely to offer stiff resistance in the zone between the 50-day SMA and $235. If the price turns down from this zone, it will signal that the BNB/USDT pair could remain range-bound between $200 and $235 for a while. The flattish 20-day EMA and the RSI near the midpoint also suggest a consolidation in the near term.Instead, if the bears sink the price below the 20-day EMA, the pair could again retest the vital support near $200. The repeated retest of a support level within a short interval tends to weaken it. If this level cracks, the pair may tumble to $183.XRP price analysisXRP’s (XRP) recovery is facing selling near the 20-day EMA ($0.50), but the bulls have not given up and are trying to push the price above the resistance.XRP/USDT daily chart. Source: TradingViewIf buyers kick the price above the 20-day EMA, the XRP/USDT pair could attempt a rally to $0.56. This level could prove to be a difficult barrier for the bulls to overcome.Contrarily, if the price turns down from the current level, it will suggest that the bears are fiercely protecting the 20-day EMA. There is a minor support at the uptrend line but if this level cracks, the pair risks sliding to $0.45 and eventually to $0.41.Cardano price analysisCardano (ADA) continues to be squeezed between the 20-day EMA ($0.25) and the critical support at $0.24. This tight-range trading is unlikely to continue for long, and a breakout may be around the corner.ADA/USDT daily chart. Source: TradingViewThe positive divergence on the RSI suggests that the selling pressure is reducing. If the uncertainty resolves to the upside, it will pave the way for a possible rally to the overhead resistance at $0.28. On the contrary, if the price plummets below $0.24, it will signal that the bears have asserted their supremacy. That could signal the start of the next leg of the downtrend. The ADA/USDT pair may then slump to $0.22.Related: BTC price hits $27.4K as Bitcoin open interest matches Grayscale peakDogecoin price analysisDogecoin (DOGE) has been stuck between the 20-day EMA ($0.06) and the horizontal support at $0.06 for the past few days.DOGE/USDT daily chart. Source: TradingViewGenerally, a squeeze in volatility is followed by a range expansion. If the DOGE/USDT pair soars and closes above the 20-day EMA, it will suggest that bulls are attempting a comeback. The pair could then rally to $0.07. Buyers will have to overcome this roadblock to start an up move to $0.08.This positive view will be invalidated if the price turns down and dives below the $0.06 support. That could pull the price down to the next support at $0.055. The bulls are expected to guard this level with vigor.Toncoin price analysisThe long wick on Toncoin’s (TON) Sept. 16 and 17 candlesticks shows that traders are booking profits near the overhead resistance at $2.59.TON/USDT daily chart. Source: TradingViewThe overbought level on the RSI suggests a possible correction or range formation in the near term. However, the bulls have not given up and are again trying to propel the TON price above $2.59. If they can pull it off, TON/USDT could pick up momentum and skyrocket to $3.The important support to watch for on the downside is $2.25. If this level gives way, the pair could start a deeper correction to the next support at $2.07.Solana price analysisAfter trading near the 20-day EMA ($19.47) for the past few days, Solana (SOL) broke above the resistance on Sept. 18.SOL/USDT daily chart. Source: TradingViewThe 20-day EMA is flattening out and the RSI is near the midpoint, indicating that the bears may be losing their grip. Buyers will try to cement their position further by pushing the price to the overhead resistance at $22.30. This level is likely to attract sellers.If the bulls fail to hold the price above the 20-day EMA, it will suggest that bears are selling at higher levels. The first support on the downside is $18.50, and if this level is violated, SOL risks descending toward the next major support at $17.33. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. Can I buy Bitcoin on Paxful without verifying my ID?The Shib This Analyst Predicts When Bitcoin (BTC) Price Will Reach $20,000

It’s important to note that tokens directly deployed to a layer-2 do not have any dependencies on the fault-proof system, as there is no bridge back to the first network layer for those tokens. Inclusivity: It is a priority to ensure that the metaverse is accessible to people of all skills and backgrounds. Atani. The crypto platform. Trade securely on 70+ exchangesSource: Adobe / slasnyiNon-fungible tokens (NFTs), once the darlings of the digital art and collectibles world, are facing a harsh reality check.According to a recent study conducted by Web3 review website dappGambl that used data from crypto tracking sites CoinMarketCap and NFT Scan, more than 95% of NFT collections are now effectively worthless.This revelation highlights the bursting of the NFT bubble that had seen extravagant sales and hype just a year ago, when digital art pieces with price tags in the millions of dollars regularly changed hands.Out of a total of 73,257 NFT collections examined in the study, a staggering 69,795 of them held a market capitalization of precisely zero Ether (ETH).The study indicates that millions of people are currently holding NFTs that have no tangible value.The results of the study were widely shared among crypto community member on the social media platform X, with some admitting that the NFT market is now “super dead:”Explosive growth in 2021 and 2022The once-skyrocketing NFT market saw explosive growth in 2021 and 2022, peaking at $2.8 billion in monthly trading volume.During this period, high-profile collections like Bored Apes and CryptoPunks traded for millions of dollars, and celebrities such as Stephen Curry and Snoop Dogg were joining the NFT frenzy.As the study's findings indicated, however, the market has since cooled significantly.An overwhelming 79% of all NFT collections remain unsold, creating an environment favoring buyers at the expense of increasingly desperate sellers.Even when filtering out lower-value projects, the majority of collections retain little value today.Among the top 8,850 collections by market cap, 18% are worthless, and 41% are priced at a modest $5 to $10.Furthermore, less than 1% of collections are valued above $6,000, marking a stark contrast to the million-dollar deals that were once commonplace.Pudgy Penguins NFT Launches Toys in 2,000 Walmart Stores, Trading Volume Surges by 530% “At a time when other crypto exchanges are backing away from various regions due to increased scrutiny from local regulators, this regulatory approval highlights Coinbase’s commitment to working with local regulators to ensure its retail and institutional offerings are compliant with local frameworks and standards,” Coinbase said in an email.

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