Cryptocurrency Payments Now Welcome at Capitol Hill Gift Shops

• U.S. Senator Ted Cruz (R-TX) has introduced a resolution that encourages Capitol gift shops to accept cryptocurrency payments.
• The Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions (ACCEPT) Resolution would require the Architect of the Capitol, the Secretary of the Senate, and the Chief Administrative Officer of the House of Representatives to encourage Capitol gift shops to accept cryptocurrency as a form of payment.
• This would provide foreign tourists who visit the nation’s capital each year with a safe and secure payment option without the need to pay unnecessary and often exorbitant foreign transaction fees.

U.S. Senator Ted Cruz (R-TX) has proposed a resolution that would make it easier for tourists visiting the nation’s capital and Capitol Hill to use cryptocurrency when making purchases. The Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions (ACCEPT) Resolution would encourage Capitol gift shops to accept cryptocurrency payments, providing tourists with a safe and secure payment option without the need to pay unnecessary and often exorbitant foreign transaction fees.

Cruz explained that the resolution “would require the Architect of the Capitol, the Secretary of the Senate, and the Chief Administrative Officer of the House of Representatives to encourage Capitol gift shops to accept cryptocurrency as a form of payment.” This would not only make it easier for foreign tourists to shop in the Capitol, but it would also show support for the burgeoning cryptocurrency industry.

Cruz also emphasized the job growth and value creation made possible by cryptocurrency. He said that “cryptocurrency is generating new jobs, encouraging entrepreneurs to invent new values and creating new hedges against inflation, and presenting new opportunities.” He added that it is “increasingly being used as a secure form of payment for goods and services.”

The resolution is a step forward in the cryptocurrency industry, as it would provide a safe and secure method of payment for tourists visiting the nation’s capital. It would also show support for the cryptocurrency industry, which has created jobs, value, and new opportunities. This resolution could have a significant impact on the Capitol Hill experience, as it would make it easier for tourists to pay for goods and services, and would show support for the cryptocurrency industry.

Bitcoin Surges to 40% Market Domination, Other Crypto Assets Follow

• On Jan. 21, 2023, Bitcoin’s price rose to a 24-hour high of $23,333, leading to its market capitalization surpassing 40% of the entire crypto-economy.
• Bitcoin’s value has increased 37.2% in the past 30 days, pushing its dominance level above the 40% region.
• Other major dominant players in January 2023 include Tether (USDT) with 6.33% market dominance, Binance Coin (BNB) with 4.57% market dominance, and USDC with 2.81% market dominance.

On Jan. 21, 2023, Bitcoin continued to surge in value, with the digital currency reaching a 24-hour high of $23,333 per unit at 5 a.m. Eastern Time. This surge in Bitcoin’s price has pushed the entire crypto-economy to a value of $1.05 trillion, an increase of 7.2% against the U.S. dollar. This surge has also led to Bitcoin’s dominance level surpassing the 40% region, with the digital currency’s market capitalization climbing to $443 billion.

In the past 30 days, Bitcoin’s value has increased by 37.2%, pushing its dominance level above the 40% region. This is a stark contrast to its dominance level from 2009 to 2017, where Bitcoin’s dominance level held above the 80% range. After dropping below 80%, the dominance level never returned to that position. According to CoinMarketCap.com (CMC) data, Bitcoin’s dominance level on Jan. 21 is around 42.4%, while CoinGecko.com (CG) metrics show the dominance level at 41.1%.

Apart from Bitcoin, the crypto market is also dominated by other major crypto assets. Ethereum (ETH) is the second-leading crypto asset, with CMC data suggesting ETH’s dominance is around 19.3% out of the $1.05 trillion in U.S. dollar value. Stablecoin Tether (USDT) commands 6.33% market dominance, while Binance Coin (BNB) has a dominance level of around 4.57%. USDC has a market dominance of 2.81%.

In conclusion, Bitcoin’s surge in value has pushed its dominance level above the 40% region, while other major crypto assets such as Ethereum, Tether, Binance Coin, and USDC also hold significant market dominance.

Bullish Momentum: Shiba Inu & Ethereum Classic Surge to New Highs

• Shiba Inu (SHIB) moved to a six-week high, hitting its highest point since December 5.
• Ethereum Classic (ETC) extended its recent gains, moving closer to a two-month high.
• The moves came as the global cryptocurrency market cap surged, as U.S. inflationary pressures cooled off.

Friday was a day of bullish activity in the cryptocurrency markets, as both Shiba Inu (SHIB) and Ethereum Classic (ETC) made notable gains. SHIB, the meme coin, raced to a six-week high, hitting its highest point since December 5. Meanwhile, ETC extended its recent gains, moving closer to a two-month high.

The moves came as the global cryptocurrency market cap surged, as U.S. inflationary pressures cooled off. Although Bitcoin (BTC) saw only minor gains, altcoins were the stars of the day.

SHIB, the meme coin, began the day at a low of $0.000009227, before rising to an intraday peak of $0.000009711. This pushed the token to its highest point since December 5, when it traded as high as $0.00001016. Bulls appeared to be attempting to push shiba inu beyond a ceiling at the $0.00000945 mark, and the 14-day relative strength index (RSI) moved past a ceiling of its own at 68.00. At the time of writing, the index is tracking at 71.74, which is deep in overbought territory.

Ethereum Classic was also in the green, with price hitting a two-month high. ETC/USD rose to a high of $21.76 earlier in the day, less than 24 hours after hitting a bottom at $20.02. This move pushed the token to its strongest level since November 10, when ETC hit a resistance of $23.00. Bulls appeared to be attempting to take ethereum classic back to this point, if recent bullish momentum can be sustained. This will likely be made difficult by a resistance level of 67.00 on the RSI, which hasn’t been broken since last August.

Overall, Friday was a bullish day in the cryptocurrency markets, with both Shiba Inu (SHIB) and Ethereum Classic (ETC) making notable gains. The moves came as the global cryptocurrency market cap surged, as U.S. inflationary pressures cooled off. Bulls appear to be attempting to take both tokens back to previous highs, if recent bullish momentum can be sustained. However, it remains to be seen if they will be able to break the resistance levels that are in place.

Dogecoin & Shiba Inu Surge to Multi-Week Highs as Meme Coins Rally

• Dogecoin (DOGE) raced to a multi-week high on Jan. 5th, as meme coins rose higher following recent days of consolidation.
• Shiba Inu (SHIB) also surged to a multi-week high on Thursday, with the coin climbing for a second straight session on the same day.
• Both coins have seen their price action bolstered by a breakout in their respective 14-day relative strength indices (RSI).

On Thursday, Dogecoin (DOGE) and Shiba Inu (SHIB) surged to multi-week highs as the meme coins continued to show strength following a period of consolidation.

Dogecoin (DOGE) saw a second consecutive session of gains on Thursday, with the coin climbing to its highest point since December 27. After reaching a low of $0.07181 the day prior, DOGE/USD rose to an intraday peak of $0.07503 earlier today. The move came as the 14-day relative strength index (RSI) for the currency marginally broke out of a key resistance zone. The RSI is currently tracking at 42.81, slightly above a ceiling of 42.00.

Meanwhile, Shiba Inu (SHIB) also managed to reach a multi-week high on Thursday, with the coin climbing for a second straight session. SHIB/USD surged to a peak of $0.000008531 earlier today, after falling to a bottom of $0.000008171 on Wednesday. This spike in price sent Shiba Inu to its strongest point since December 18, prior to the holiday season consolidation. The move was further bolstered by a breakout in the coin’s 14-day relative strength index (RSI) which managed to break out of a point of resistance at $0.00000850. The RSI is currently tracking at 51.63, after surging past its own ceiling at the 50.00 level.

The gains seen in Dogecoin and Shiba Inu come ahead of Friday’s U.S. nonfarm payrolls numbers, with investors likely keeping an eye on the results for any further insights into the state of the economy. Both coins have seen their price action bolstered in recent days, as traders finally return from their recent holiday break and look to capitalize on the current market conditions.

Cryptocurrency Consolidates After FOMC Minutes: Bitcoin, Ethereum Eye Next Catalyst

• Bitcoin (BTC) consolidated marginally below $17,000, as market volatility remained high following the recent Federal Open Market Committee (FOMC) minutes.
• Ethereum (ETH) also consolidated in today’s session, with momentum marginally shifting on Thursday.
• The U.S Federal Reserve agreed to maintain hiking rates, with inflation still near historic highs, and the bank expects a more aggressive rise in inflation, forecasting consumer prices to be at 3.5% in 2023.

The cryptocurrency markets have been on a rollercoaster ride over the past few weeks, with a flurry of activity and announcements driving market volatility. Bitcoin (BTC) and Ethereum (ETH) have been the main beneficiaries of this, and the two coins have seen their prices skyrocket to record-breaking highs in recent weeks. On Thursday, however, the market cooled off somewhat, as the Federal Open Market Committee (FOMC) published its minutes from the December meeting.

The minutes revealed that the U.S Federal Reserve agreed to maintain hiking rates, with inflation still near historic highs. The bank expects a more aggressive rise in inflation, forecasting consumer prices to be at 3.5% in 2023, higher than the 3.1% previously expected. This has caused some investors to take a more cautious approach towards the market, resulting in BTC consolidating marginally below $17,000.

Ethereum also remained close to recent highs on Thursday, although the coin did drop to an intraday low of $1,246.21. Despite the drop, sentiment remains somewhat bullish, as ETH continues to trade above its long-term resistance level at $1,230. The 10-day (red) and 25-day (blue) moving averages also remain close in proximity, maintaining chances of an upwards crossover.

Overall, it appears that both Bitcoin and Ethereum have settled into a period of consolidation, as the market awaits the next major catalyst. Investors will be keeping a close eye on the FOMC minutes for further clues about the direction of the market and the potential for further rate hikes. In the meantime, traders should remain vigilant and cautious, and keep an eye on key support and resistance levels.

Nigerias sentralbank Ok Peer-to-Peer Bitcoin-handel

Central Bank of Nigeria (CBN) har avklart sin holdning til bitcoin (BTC) og andre kryptovalutaer, noe som gjør det klart at kryptohandlere i landet står fritt til å utføre sin virksomhet på peer-to-peer-basis, slik forbudet gjorde ikke forbyr bruken av kryptoer, men det er snarere et forsøk på å beskytte långivere under dets virkeområde, ifølge en rapport fra lokal nyhetspublikasjon Today Ng, 20. mars 2021.

CBN kaster mer lys over Crypto Ban

I en noe positiv utvikling for Nigerias spirende kryptovalutaindustri har landets bankregulator, Central Bank of Nigeria (CBN), pekt mer lys på sitt forbud mot bitcoin- og altcoin-transaksjoner i staten.

I følge kilder nær den siste utviklingen har CBN-guvernøren Godwin Emefiele gjort det klart at dets direktiv bare hindrer finansinstitusjoner og banker under dets jurisdiksjon fra å betjene kryptorelaterte virksomheter eller delta i kryptorelaterte aktiviteter, og prøver ikke å gjøre bitcoinhandel i seg selv, en ulovlig handling.

Emefiele som ikke var fysisk til stede under det nylig avholdte CBN 30. seminaret for finanskorrespondenter og forretningsredaktører, avklarte bankens holdning via sin representant, Adamu Lamtek, viseadministrator, Corporates Services.

“CBN satte ikke begrensninger på bruken av kryptovalutaer, og vi fraråder ikke folk å handle med den. Det vi nettopp har gjort var å forby kryptovaluta-transaksjoner i banksektoren, ”erklærte regulatoren.

Adopsjon av krypto fortsetter å øke i Nigeria

Det vil bli husket at CBN tidligere i februar 2021 sendte ut en uttalelse til finansinstitusjoner under sitt virke, og minner dem om at de ikke har lov til å betjene børser og bitcoin.

“CBN-rundskrivet fra 12. januar 2017, ref FPR / DIR / GEN / CIR / 06/010, som advarte innskuddspenger (DMBer), ikke-bankinstitusjoner, andre finansinstitusjoner og medlemmer av publikum om risikoen forbundet med krypto transaksjoner refererer. I tillegg til tidligere reguleringsdirektiver om emnet, ønsker banken med dette å minne regulerte institusjoner på at det er forbudt å handle med kryptokurver eller legge til rette for betaling for kryptobørs, „erklærte CBN den gangen og la til“ Følgelig er alle DMB, NBFI og OFI rettet å identifisere personer og / eller enheter som handler i eller driver kryptobørs i sine systemer og sørger for at slike kontoer stenges umiddelbart. ”

CBN truet også med å straffe enheter som strider mot ovennevnte direktiv.

Siden den gang har sentraliserte børser i regionen, inkludert Luno, Binance og en rekke andre, stoppet innskudd og uttak av naira. Imidlertid har P2P-handelssteder fortsatt å blomstre, med ukentlig bitcoin-volum i regionen som representerer over 40 prosent av det totale kontinentets totale.

Med den siste utviklingen forventes det at flere børser i regionen vil begynne å lansere P2P-handelssteder.

Commerzbank embarrasses itself with anti-Bitcoin letter

Commerzbank disgraces itself with anti-Bitcoin letter

Crypto-scepticism is a tradition in the banking sector. Commerzbank is sticking to this tradition and reveals one thing in particular in an „Insight Report“: gaps in education.

Bitcoin and Commerzbank are unlikely to get off on the right foot any time soon. In an „Insight Report“, the major bank presents its critical view of the asset and reveals some gaps in its knowledge. The prejudices are the same old ones: Bitcoin is used for money laundering, has no intrinsic Crypto Engine value and the crypto market shows parallels to the tulip mania.

Commerzbank dissects Bitcoin

Bitcoin is not money: this is the damning verdict of the report „Precious Metals vs. Cryptocurrencies“, which voices the same concerns that have been heard since the beginning of the Bitcoin Blockchain. Even if Commerzbank makes the right arguments, the core statement of the report misses the reality.

The report suggests that Bitcoin is a shadow currency that opens the door to money laundering and terrorist financing. The underlying blockchain technology is „completely anonymous, with all its advantages and disadvantages“. A still widespread fallacy: Blockchain technology is not anonymous, but pseudonymous.

All transactions are visible to all network participants at all times. The Bitcoin Blockchain is a transparent database in which money flows can be traced – even for law enforcement agencies. KYC procedures make it easy to trace illegal money flows back to the originator. Even if criminals can take a diversion via Mixer or privacy coins like Monero, the crypto ecosystem is not the black hole it is often portrayed as. If one wants to find a scapegoat, fiat money remains the most popular money laundering vehicle.

Bitcoin without „ideal value“?

Commerzbank sees another point of criticism in the alleged misrepresentation of Bitcoin as a digital gold version. Due to the corona-induced „ultra-expansive monetary policy“, investors are fleeing to safe havens to protect themselves against inflation. Bitcoin, however, does not live up to this status, as it lacks „the use value and also the ideal value“.

The precious metal, on the other hand, has „always had a high sentimental value“, which is due to the fact that „gold cannot be multiplied at will and its extraction is associated with corresponding extraction costs“. The thesis that Bitcoin has no sentimental value is all the more remarkable in view of this conclusion, since the same premises also apply to Bitcoin. After all, the mining costs for Bitcoin are reflected in the proof-of-work process and can be measured in terms of the computing power expended.

Bitcoin key figure indicates an upswing, Aave and Chainlink achieve record prices

The SOPR suggests that the selling pressure on Bitcoin will ease, and the institutions are also still optimistic.

At the beginning of the weekend, Bitcoin ( BTC ) had hoisted itself into a price range of 33,500 – 32,000 US dollars, with the price only staying just above the 32,000 US dollar mark on Sunday.

Some analysts warn that the recent decline is fueled by the fact that institutional investors are slowly becoming “exhausted”.

Since January 19, there has been increasing pressure to sell, especially from Asia

Nonetheless, some institutional investors are holding onto the hope that Bitcoin Formula scam will climb to $ 100,000 in 2021 . The reason for this is probably that the mood among private investors continues to be good and that new Bitcoin index funds (ETF) have been applied for , which would create further investment vehicles for the crypto market leader.

Although Bitcoin faces resistance at $ 33,000, crypto statistician Willy Woo sees good chances of it going back up. As he explains, the „Bitcoin Spent Output Profit Ratio“ (SOPR) indicates that the course will start again. The key figure SOPR sets the average sales price in relation to the average purchase price for recently traded BTC. If this relative value is greater than 1, selling is worthwhile; below this threshold this would no longer be the case, which is why the selling pressure will probably decrease again for the time being (see graphic below).

With regard to the SOPR, Woo explains:

“The SOPR is doing a reset. Bitcoin that has been trading in the past few hours are no longer profitable on average. Investors would now lose money if they kept selling. “

Woo thinks it is unlikely that investors will be willing to make losses in order to sell their Bitcoin, which is why he sees the current price level bottoming out. From here it would go up again.

Altcoins and DeFi tokens on the rise

Some decentralized financial services (DeFi) altcoins and cryptocurrencies may gain while the crypto market leader is currently struggling. Polkadot (DOT), AAVE, Curve DAO Token (CRV) and Sushiswap (SUSHI) have all gained between 5% to 7%.

The upturn in DeFi tokens can largely be explained by increased trading activity on decentralized crypto exchanges (DEX), because, as the data from Dune Analytics shows, DEX trading volumes have increased continuously since July 2020, and the total is in DeFi invested fortunes now to a whopping $ 23.89 billion.

Bitcoin Hashrate Sets New Record

The hashrate of Bitcoin, has increased considerably due to the incorporation of new miners to the Blockchain network of that currency.

The computing power, or Bitcoin hashrate, has reached a new all-time high, which translates into increased activity. At the same time, the difficulty of the Blockchain network to process blocks, has also increased above its highest figure.

This scenario is presented as an increase in the connections of new Crypto Trader review equipment in the network. These are probably the ASICs that have been acquired by large mining companies in North America.

It should be remembered that firms such as Marathon, Riot Blockchain and others have made massive purchases in recent months. Likewise, it is important to highlight that the price of the most popular crypto-currency has recovered from the sharp drop at the beginning of the week and is once again close to 40K.

The 100 Richest Bitcoin Addresses

What is the importance of hashrate and the difficulty of Bitcoin?

One of the strongest indicators of the health of the Bitcoin network is the state of its hashrate. This indicates, when it’s high, that a large number of miners have joined the competition to process blocks, which makes the network more robust and more complex and secure against possible attacks. In short, it decentralizes it to a greater extent.

When the hashrate decreases, it means that there are disconnections and the network becomes more vulnerable. In that sense, the growth of the computing power of the last days can be considered as a sign that the mining business is proliferating and developing in an optimal way.

On the other hand, the incorporation of new miners, makes the mathematical algorithms to process blocks to be solved faster. In response, the network adjusts the difficulty of these algorithms to make them more complex. Consequently, the goal is to maintain the 10-minute average per block, regardless of the number of miners.

The difficulty of the Bitcoin network is adjusted every 2,016 blocks (about two weeks), so that mining is easier if the hashrate is low or harder if it’s high.
Currently, the Bitcoin hash rate is 151.7 EH/s. Source: Blockchain.comCurrently, the Bitcoin hashrate stands at 151.7 EH/s.

What happens if a Bitcoin ETF is approved in the US?

A rapidly growing business

At the moment, the difficulty of Bitcoin’s Blockchain network is 20.61T. Its last adjustment was on January 9th at the level of block 665,280. The next adjustment will be on block 667,296 approximately on January 23rd. If Bitcoin’s computing power keeps increasing, the difficulty will rise again.

It should be noted that the last major difficulty setting was on October 17, 2020. At that time the network reached 20.00T. Since then it had fallen due to a respective drop in Bitcoin hashrate at the end of the rainy season in some provinces of China.

As reported in CryptoTrend, the winter in China allows the energy value in some provinces to decrease. Excess hydroelectric power allows many miners to migrate to provinces like Sichuan. At the end of the monsoon, the miners are disconnected. This makes the hashrate go up and down several times a year.

At present, according to the graphs on Blockchain.com, Bitcoin’s hashrate is 151.7 EH/s.

All of this, as already mentioned, ensures that the Bitcoin network is in the best condition to operate. The mining business continues to expand and more miners are joining the race to get as many coins as possible.

Facts to keep in mind

  • The hashrate and difficulty of the Bitcoin network is at a historical record.
  • This indicates that more miners are joining the block competition.
  • Everything seems to indicate that the massive purchases of large firms are joining the network.
  • The next difficulty adjustment will be the weekend of January 23rd, at the level of block 667,296.

Spazio alla crescita? Solo il 10% dei cittadini del Regno Unito ha acquistato Bitcoin

Solo il 10% dei cittadini britannici ha acquistato BTC, ma il bene è molto popolare a Londra, perché un residente su quattro l’ha acquistato, dice il sondaggio.

Nonostante il prezzo e la popolarità siano cresciuti negli ultimi mesi, Bitcoin è ancora lontano dal ricevere l’attenzione delle masse. Un recente studio compilato nel Regno Unito ha concluso che solo il 10% dei partecipanti ha acquistato BTC, con i londinesi che sono più simili all’esposizione al bitcoin.

Il 10% dei cittadini britannici ha acquistato BTC

In seguito agli ultimi sviluppi dei mercati delle criptovalute, quando i prezzi hanno ricominciato a crescere, Opinium e AltFi hanno condotto un’indagine per raccogliere il punto di vista delle persone sui beni digitali.

Entrambe le organizzazioni hanno chiesto a 2.000 adulti britannici come la pandemia di COVID-19 abbia avuto un impatto sulla loro situazione finanziaria, e la maggioranza ha affermato di essersi rivolta agli investimenti digitali astenendosi dagli asset fisici.

Quando lo studio si è limitato al bitcoin e ad altre crittocurrenze, i risultati hanno mostrato un significativo margine di crescita. Solo il 10% (o 200 persone) degli intervistati ha dichiarato di aver acquistato beni digitali.

Nonostante sia ancora una percentuale relativamente piccola, i risultati del 2020 potrebbero essere considerati come un miglioramento annuale. Uno studio simile della fine del 2019 ha mostrato che il 5,3% dei partecipanti ha acquistato valute crittografiche.

La ricerca di AltFi ha anche indicato che piattaforme come Revolut e Freetrade hanno attratto una parte considerevole dei nuovi investitori. Altre sedi preferite sono state Google Pay e Apple Pay – il 28% degli acquirenti di criptovalute ha utilizzato una delle due.

Londinesi come Bitcoin

Non sorprende che i cittadini di una delle più importanti città finanziarie del mondo – la capitale britannica Londra – siano sembrati più aperti verso il bitcoin. Quasi il 25% di tutti i partecipanti che si trovano a Londra ha dichiarato di aver già acquistato BTC o un’altra moneta criptata.

D’altra parte, la città meno „amica dei bitcoin“ del Regno Unito si è rivelata essere Plymouth, con un solo residente che ha acquistato beni virtuali.

La ricerca ha anche confermato la storia che le giovani generazioni hanno maggiori probabilità di stanziare fondi in BTC. Quasi il 20% dei giovani tra i 18 e i 34 anni lo ha già fatto, mentre la percentuale è scesa a 1 solo con partecipanti di 55 anni o più.

In precedenza, JPMorgan ha pubblicato un rapporto con lo stesso risultato. Esso informava che la pandemia COVID-19 aveva messo in evidenza differenze significative tra le generazioni più giovani e quelle più anziane nei loro approcci di investimento. Tuttavia, la conclusione è stata che gli investitori anziani preferiscono ancora l’oro, mentre i giovani hanno una maggiore tolleranza al rischio e tendono a scegliere il bitcoin.