Financial News
$60K becomes resistance — 5 things to watch in Bitcoin this week
A headache for Bitcoin bulls is compounded by a raging U.S. dollar as investors sit on the fence over which way the market will go. Bitcoin (BTC) begins a new week with a rare disappointment for its Q4 bull run — failing to crack previous support. After a promising weekend, BTC/USD ultimately saw rejection at…
Read MoreBitcoin (BTC) Dips Below $60,000 in October 2021, Is 2017 Repeating?
It’s almost like the dip buying opportunities in Q4 2021 matched Q4 2017. BTC price action has dipped below $60,000 – yet bitcoin is still reflecting the eye-popping 2017 bull run. Compared to Bitcoin’s previous halving cycle, the latest data from 2017 and 2021 show how similar they really are. A new bitcoin print shows eerie similarities to…
Read MoreCrypto can erode tax base, Russia’s tax boss says
The Russian State Duma approved a bill on crypto taxation in early 2021, but the bill has yet to move any further. The Russian Federal Taxation Service (FTS) is actively monitoring the cryptocurrency market to prevent tax evasion, FTS head Daniil Egorov said. Cryptocurrencies can potentially cause “significant erosion” to Russia’s tax base, Egorov argued in a…
Read MoreEthereum ‘huge Cup & Handle pattern’ reaffirms $6.5K ETH price target
The bullish outlook appears as ETH’s price decline stalls near its old cup-and-handle resistance level, now acting as support and thus raising the potential of a strong rebound ahead. Ethereum’s native asset, Ether (ETH), may rebound by nearly 60% in the coming sessions as bulls pin their hopes on a classic bullish continuation pattern. Prices…
Read MoreUS Navy to pilot blockchain-based project to improve medical supply lines
Consensus Networks uses the IoTeX blockchain to monitor the health of 700,000 U.S. Navy sailors and marines in real-time. The United States military continues to explore blockchain technology to improve its processes. The U.S. Navy has signed a $1.5-million contract with Consensus Networks to develop a blockchain-enabled logistics system named HealthNet back in May. The…
Read MoreInflation at 30-Year High – Cryptocurrencies Run Bullish to Earn Value
As inflation increases, investors become more attracted to assets such as Bitcoin. On Wednesday, the price of Bitcoin climbed to its highest level ever. Investors continued to pile into Bitcoin (BTC) and other cryptocurrencies on Wednesday, as inflation in the United States threatens to depress prices. According to Coingecko, the cryptocurrency market capitalization – an important barometer of…
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