ACP project, Dornbergstrasse 12, Kassel-Wilhelmshöhe (2026)

07/10/2022

The crypto and market education platform, IncomeSharks, took to Twitter to share some insights on the price of the crypto market leader Bitcoin (BTC). Well-known trader and CEO of Eight Global also took to the platform to share his opinion about BTC.

According to IncomeSharks, BTC’s dominance is still pushing up. Van de Poppe seems to agree with this as he stated in his own Tweet that BTC is “getting in the long zone”.

Bitcoin / Tether US 1D (Source: CoinMarketCap)

Data from the crypto market tracking website CoinMarketCap indicates that BTC is currently trading at $19,977.28 after a 0.90% drop in price over the last 24 hours since reaching a high of $20,294.39 over the same time period. Despite the crypto being down for the day, it is still in the green by more than 2% over the last week.

In addition to BTC being down for the day so far, it also weakened against its biggest competitor, Ethereum (ETH), by 0.73%. BTC’s 24-hour trading volume also took a bit of a knock as it is down by just over 18% and now stands at $29,243,355,660.

On the daily chart for BTC/USDT, the 9 Exponential Moving Average (EMA) line has recently crossed bullishly above the 20 EMA line. However, BTC’s price is currently resting on the 9 EMA line. Therefore, investors need to be cautious of entering into a long trade at this moment.

The Relative Strength Index (RSI) indicator also suggests that it may not be a good idea to enter into a long position over the weekend, as it is currently negatively sloped towards the oversold territory.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post Two Known Crypto Experts Share High Hopes for The BTC Price appeared first on Coin Edition

07/10/2022

The warrant for Yoo Mo, the head of the business team of Terraform Labs, has reportedly been dismissed less than 48 hours after it had been issued.

According to an Oct. 6 report from South Korea’s Yonhap News Agency, Judge Hong Jin-Pyo of the Seoul Southern District Court said it was difficult to see the “necessity and significance” of arresting Yoo. The prosecutor's office in the same jurisdiction reportedly issued a bench warrant for the Terraform Labs executive on Oct. 5 for charges that included violating the Capital Markets Act and fraud by manipulating the price of TerraUSD (UST) — now TerraUSD Classic (USTC)

21/09/2022

Most Asian stock markets fell on Monday as investors fled risk-driven assets ahead of a U.S. Federal Reserve meeting later this week, while a holiday in Japan made for diminished trading volumes.

Most major bourses in Asia extended losses from last week, with a two-day Fed meeting, starting on Tuesday, widely expected to result in a 75 basis point (bps) interest rate hike.

Concerns over the hike battered stock markets last week, as expectations for a hawkish move were cemented by hotter-than-expected U.S. inflation data.

Traders are also pricing in the possibility of a surprise 100 bps hike by the Fed, given the stubbornness of U.S. inflation. Focus will also be on the Fed's inflation expectations, which are likely to guide monetary policy for the remainder of the year.

Hong Kong’s technology-heavy Hang Seng index was the worst performer among its peers on Monday, losing 1.2% on losses in majors Baidu (HK:9888), Alibaba (HK:9988), and Tencent (HK:0700). South Korea’s KOSPI also lost 0.9%.

China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes fell slightly lesser than their peers after Southern megacity Chengdu relaxed most of its COVID-linked curbs on Monday. The move is expected to help spur a recovery in Chinese economic activity.

The People’s Bank of China also trimmed repo rates on Monday, and increased its rate of cash injections into the economy as it acts to revive growth in the country.

Chinese stocks have been somewhat underpinned in recent months by expectations that Beijing will continue to increase spending and loosen policy to revive economic growth. The Communist Party recently signaled that it would ramp up stimulus measures in the ongoing quarter.

Economic readings from China show that the country is struggling with slowing growth and dimming prospects due to its strict zero-COVID policy.

Asian markets are also focusing on central bank meetings in Japan, Philippines and Indonesia this week for more cues on how central bankers intend to tackle rising inflation.

While the Philippines and Indonesia are expected to raise rates, the Bank of Japan has so far signaled no such intent, given that the Japanese economy is still reeling from the COVID-19 pandemic.

21/09/2022

Japan is now ready to intervene in currency markets at any moment, if needed, and doesn’t need to wait for a green light from the US to support the yen, according to a former head of the country’s currency policy.

“Last week’s rate check means the authorities can now take action at any time,” said former Ministry of Finance currency chief Tatsuo Yamasaki in an interview with Bloomberg on Tuesday. “For me, it wouldn’t have been a surprise if they’d intervened then.”

Yamasaki was referring to calls made by the central bank last week to check on prices in the currency market, a move that is sometimes a precursor to direct buying or selling by the authorities and serves as a strong warning to speculators.

The yen potentially faces more turbulence over the coming days as the Federal Reserve and a raft of other central banks hike interest rates while the Bank of Japan is expected to stand pat on rock-bottom rates.

The policy divergence between the Fed and the BOJ is one of the main drivers of the yen’s slide of around 20% against the dollar so far this year.

Yamasaki recalls how he was at the forefront of intervention action worth 35 trillion yen back in 2003 and early 2004, years before he took over as the country’s top FX official in 2014. At that time the present-day currency chief Masato Kanda was working under him as his right-hand man, he said.

From that experience, Yamasaki says it is not unnatural at all to assume Japan can go it alone on foreign exchange action without direct support from the US.

“Historically nearly all of Japan’s intervention actions have been unilateral,” said Yamasaki, who is currently a director at SBI Financial and Economic Research Institute. Given that a rate check has already taken place, “I think there is no impediment to conduct intervention.”

In the fight against speculators, Yamasaki said there are a lot of options for the Ministry of Finance, including holding out with just verbal intervention as well as hitting traders with a surprise. If speculators are burned enough, that would act as a reminder not to bet against the authorities, he said.

“MOF is focusing on the movement of exchange rates,” said Yamasaki. “If there is a say 5 yen or more movement in a couple of days, I think it is time to really show the public that Japan’s government will not allow such speculative movement.”

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