Monthly Archives: September 2021

Traders know not to ‘go long’ when this classic trading pattern shows up

Investors watch trading volume and other momentum indicators alongside descending channel patterns to better gauge when to open and close trades. Buying an asset in a downtrend can be a risky maneuver because most investors struggle to spot reversals and as the trend deepens traders take on deep losses. In instances like these, being able to spot descending channel patterns can help traders avoid buying in a bearish trend. A “descending channel,” also known as a “bearish price channel” is formed by drawing two downward trendlines, parallel […]

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Report: Nigerian Securities and Exchange Commission Sets Up Fintech Division for Crypto Research

Nigeria’s securities regulator, the Nigerian Securities and Exchange Commission (SEC) has set up a fintech division “to study crypto investments.” This was revealed by Lamido Yuguda, the director-general of the SEC during an interview. Protecting Crypto Investors In the interview, Yuguda explains that the study’s findings will help inform the SEC of the best ways to regulate cryptocurrency should the Central Bank of Nigeria (CBN)’s February 6 directive be lifted. However, the director-general did not provide a time frame for issuing regulations or state when he expects […]

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Nigeria plans CBDC rollout, Salvadoran retirees protest Bitcoin Law, Twitter to add BTC and ETH tipping feature: Hodler’s Digest, Aug. 29-Sept. 4

Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link. Top Stories This Week Nigeria’s central bank partners with fintech firm Bitt Inc. for CBDC rollout Central bank digital currencies, or CBDCs, which some have described as the spawn of Satan, made headlines this week after multiple countries ramped up efforts in developing their own digital money. […]

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NFL Bars Teams From Participating in Certain Cryptocurrency and NFT Ventures: Report

According to a recent report, the National Football League (NFL) advised teams that they could not, at least for now, sell non-fungible tokens (NFTs) and sponsorships to digital currency companies. Advertisements for specific crypto assets were mentioned alongside initial coin offerings (ICOs), according to various club sources who remained anonymous. Anonymous Club Sources Disclose the NFL’s New Policy On Friday, The Athletic reported that sources familiar with the matter detail that the NFL is barring teams from participating in certain crypto ventures. The NFL’s alleged ban follows […]

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A Classic Lesson In Hard Money

A film about a thief and a princess is intertwined with an all-too-familiar inflationary ideology. *All images in this article are from Hayao Myazaki’s “The Castle Of Cagliostro.” The lowering of a fiat curtain sealed off all connections to a hard money standard and our global economy has sunk knee-deep into a bog of fiscal uncertainty, mooched by money-sucking mosquitos à la fractional reserve banking, whipped by the winds of politically fueled monetary policies, and a populace’s perspective clouded by the indoctrination into an inflationary ideology. Unsound […]

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Newly Launched Wallstreetbets Defi App Aims to ‘Take Over Traditional Financial Markets’

At the beginning of 2021, a trend ignited by the creators of the Reddit forum r/wallstreetbets caused the whole world to focus on retail traders in the stock market purchasing so-called dead stocks like AMC, GME, and others. The hype behind the Wallstreetbets group has fizzled in the last few months, but a group that claims to represent the Wallstreetbets community has started a decentralized finance (defi) project called wsbdapp.com. The Wallstreetbets application provides traders with the ability to swap synthetic stocks backed by blockchain tech. Wallstreetbets […]

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Gold, bond portfolios are ‘naked’ without Bitcoin, Bloomberg strategist asserts

The declaration appears as Bitcoin pops back above $50,000, with its addition in a Gold-Bond portfolio outperforming the S&P 500 index. What is protecting an investment portfolio from potential stock market volatility? As per Bloomberg Intelligence’s Mike McGlone, a merged exposure of Bitcoin (BTC), gold, and government bonds. The senior commodity strategist, who sees BTC heading to $100,000, pitted derivatives in a new report representing the three safe-haven assets against the performance of the S&P 500 index, finding that the trio has been outperforming the benchmark Wall Street index […]

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JPMorgan Says Cryptocurrency Markets Are ‘Looking Frothy’

Global investment bank JPMorgan says cryptocurrency markets are “looking frothy” as retail investors spill over from the stock market into cryptocurrencies and non-fungible tokens (NFTs). Crypto Markets Look Frothy, According to JPMorgan JPMorgan published a note Wednesday on the stock market and cryptocurrencies. It explains that retail investors bought stocks at a record pace over the summer with an estimated net flow into the U.S. stock market of $13 billion in August after reaching a record high of almost $16 billion in July. The JPMorgan analysts asserted […]

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Bloomberg senior strategist calls Bitcoin a global reserve asset on the path to $100K

Following a massive correction, digital assets led by Bitcoin and Ethereum are on track for new highs, according to a new report from Bloomberg. Bloomberg’s senior commodity strategist Mike McGlone has doubled down on call for six-figure Bitcoin (BTC), arguing that the first-born cryptocurrency is well on its way to becoming a global reserve asset that complements the United States dollar.  The September edition of Bloomberg’s Crypto Outlook called $100,000 BTC and $5,000 Ether (ETH) the “path of least resistance” after the two assets survived a more […]

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India Has New Plan to Regulate Cryptocurrencies: Report

India is reportedly working on a new way to regulate cryptocurrencies. “The government is planning to define cryptocurrencies in the new draft bill that also proposes to compartmentalise virtual currencies on the basis of their use cases,” according to a report. How India Will Regulate Cryptocurrencies India is reportedly planning to regulate cryptocurrencies as commodities based on use cases. “The government is planning to define cryptocurrencies in the new draft bill that also proposes to compartmentalise virtual currencies on the basis of their use cases,” The Economic […]

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