Perceiving that Bitcoin has crashed into the $ 42,000 region, Airbnb could soon start accepting crypto payments. Here are some highlights from the crypto market.
Amid the lack of price movement in Bitcoin, many analysts are bearish, pointing to a head and shoulders pattern forming on the 1-day chart.
Veteran trader Peter Brandt doesn’t seem to care about a downtrend forming, however, and gives four reasons why the trend is unlikely, including:
- Upside down neckline
- A low RS indicates an elongated wick
- The current head and shoulders pattern is an extension of a larger congested price zone
- No overlap between shoulders and head area
Many backseat chartists post the H&S in $ BTC. I don’t particularly like this interpretation for four reasons.
1. Upward sloping neckline
2. RS low is an elongated wick
3. H&S is the extension of a much larger congestion zone
4. No overlap between shoulders and head area pic.twitter.com/rcGyuv137i
– Peter Brandt (@PeterLBrandt) January 5, 2022
Brandt also spoke out against classic charts that don’t work in the crypto industry, claiming that they are more applicable in the industry than any other asset class.
The legendary analyst also made it clear that he himself does not predict that the price of Bitcoin will go down, but he does not rule out that it could actually happen. And the truth is, Bitcoin is down more than 7%, to date in the $ 42,000 region.
Bitcoin Price Chart | Source: Coinmarketcap
The largest cryptocurrency is struggling to get back on track in early 2022, although it has generally seen decent growth at the start of every new year since 2018. In the first week of 2021, Bitcoin rose to 36%. In 2020, it grew by 13% over the same period.
Meanwhile, Bitcoin’s dominance has dropped to 39.3%, its lowest level since June 2018.
Terra has been under strong selling pressure since the $ 94 mark, the $ 75 zone could bring Terra buyers back on the market.
The Fibonacci retracement levels are showing short-term bearish momentum from $ 103.6 to $ 81.1 (white), with a 27.2% extension at $ 74.99. The confluence is likely to cause LUNA to rally again, however resistance is in the USD 78 area.
LUNA price table – 1 hour | Source: TradingView
Price makes a lower low while the RSI makes a higher low. Bullish divergence along with a confluence of support could bring LUNA towards its $ 78.2 target. However, this area is also experiencing increased selling pressure, especially since Bitcoin is in a downward spiral.
The stochastic RSI is near the oversold zone and the RSI is oversold on the hourly chart. A slight rally is therefore possible, but the $ 78-80 area is likely to have large sell orders.
The money transfer network MoneyGram has now invested in the crypto ATM operator Coinme after a series A financing round.
In notification On Wednesday, MoneyGram announced that it had acquired approximately 4% stake in Coinme valued at approximately $ 764,000 as part of a strategic investment in the crypto company. The investment follows a partnership between the two companies in May 2021 that aims to expand access to cryptocurrency exchanges.
Currently, MoneyGram users in the US can exchange Bitcoin (BTC) and cryptocurrency for cash at the point of sale. There are more than 23,000 ATMs in the US, including MoneyGram and Coinstar, according to Coinme’s website.
Enjin, the leading Polkadot project, has announced the opening of its brand new headquarters in the Bloktopia metaverse.
This new space is designed to showcase Enjin’s growing NFT projects and ecosystem. As more and more institutional investors enter the Metaverse area, having their own office in the virtual world is the intelligent growth strategy of the project.
Enjin HQ: Coming to @bloktopia ️
– Enjin | We are hiring! (@enjin) January 3, 2022
Although much of the crypto market has entered a deep correction, the majority of altcoin holders like Matic are still profitable even after the 18% drop in prices.
According to data from IntoTheBlock, 79% of all Matic owners are still profitable despite recent negative price movements. Matic lost about 25% of its value after hitting an ATH at $ 2.90.
In addition to 79% of all owners trading Matic for profit, 7% of investors break even. Only 13% of total owners lose money buying Matic at or near the top.
MATIC chain display | Source: IntoTheBlock
News Exotic Markets
Exotic Markets announced today that they have raised $ 5 million from well-known investors and venture capital funds to fund the new structured products they are looking to bring to the ecosystem. Fundraising is done through a private token sale.
– Exotic markets (@exotic_markets_) January 5, 2022
Top investors include Multicoin, which has invested in projects like Eden, Arweave, Audius and Solana, and Ascensive Assets, which has invested in Yield Guild Games DAO and Jenny Metaverse DAO. Other investors include Alameda Research from Sam Bankman-Fried, Animoca Brands, Morningstar Ventures, and Solana Capital TPS.
Aave has launched a product for institutional investors. The DeFi project, currently the largest credit protocol in the crypto ecosystem, has implemented Aave Arc, with 30 investment firms working with Fireblocks.
– The block (@TheBlock__) January 5, 2022
Aave Arc is aimed at financial institutions and corporations, providing them with the ability to borrow digital assets and earn the high returns that DeFi offers in a regulated regulatory environment.
Unlike a regular log with no custody, liquidity pools in Aave Arc are licensed, which means that any institution that wants to use the service must be whitelisted. Fireblocks is responsible for performing the necessary reviews to list each company in accordance with the KYC / CDD / EDD rules and the guidelines of the Financial Action Task Force.
Airbnb could be accepting crypto payments soon.
American apartment rental company Airbnb Inc. could soon be added to the list of companies that accept cryptocurrency as a payment option.
Recently, Airbnb co-founder Brian Chesky asked Twitter users, “Do you have any recommendations for us in 2022?”
Three days after asking the question, Chesky said he had receive more than 4,000 offers and top 6 recommendations. One of them is an offer to accept payments in cryptocurrency.
“A lot of people want to rent an Airbnb apartment and pay with cryptocurrency, which shows a pretty high level of user demand. For this proposal, the company will give it some serious thought, ”he added.
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