golden ratio.. phi.. btc cap and others.. coincidence? lazy chart just wanted to get it out their.. the 1.6180399 never ceases to amaze
BTC trade ideas
BTC Indice analysisBTC Currently staying resistance & RSI level up to 52 levels and the market cap is growing so the price goes up I think.
BTC needs to drop another 40%bulls are not ready to hear this i think... Are you gonna take a bite at that level?
BTC next support is at 66B Market capI prefer this technique as it considers both price and volume...
BTC bearish confirmed as MA has crossed downSo we can expect marketcap to test its lows before any further rise...markets always test there support and resistance levels
What happens when the global economy goes into depression next year... USA will go down in early 2021...
A song for the strong willed.They don't know whats gonna hit em.
Knock knock let the devil in.
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Russia’s emerging crypto businessThe crypto market in the Russian Federation is developing thanks to favorable conditions.
There are several factors that may help to make this country the center of the crypto industry . Firstly, Russia is the largest country in the world as the total area exceeds 17 million square kilometers.
Secondly, it inherited some of the largest hydropower plants after the Soviet Union dissolved in 1991. Bratsk hydropower plant is one of them.
Another reason why it was a great idea to open a data center in Bratsk is weather, more precisely cold weather. The climate in Siberia is perfect for crypto mining as long, and cold winters help to reduce the costs associated with mining.
This hydropower plant, as well as the aluminum plant located in the same city, which belonged to Oleg Deripaska. He is one of the richest men in the Russian Federation. He used to control hydropower plant along with aluminum plant through his company Group Plc and its unit United Co. Rusal.
The U.S. imposed sanctions on Oleg Deripaska due to his ties to the Russian government. However, he reached an agreement with the U.S. Treasury. As a result, U.S. authorities canceled the sanctions against EN+ in January.
En+, which used to belong to Deripaska, supplies up to 100 megawatts to Bitriver each year.
Chinese Crypto Office BISS Shut DownChinese authorities force closed the local cryptocurrency exchange, BISS. Then, they arrested about ten people suspected of being part of its operations.
On November 22, local media Sohu reported the developments undertaken by Chinese authorities. But the actual date of when the event took place is unclear.
In addition to that, also on the same day, Dovey Wan, the founding partner of blockchain-based investment firm Primitive Ventures, stated that the local crypto community had known of the progress for a couple of weeks. However, the information was publicized a little late. Also, She believed that the Beijing-based exchange in question is remarkable, “It’s a relatively up-and-rising exchange.”
Aside from that, in a blog post shares on November 18, the exchange discussed the user withdrawal issues. Then, the firm confirmed that Chinese authorities had stopped operations.
The post indicated, “According to market sources, it is understood that BISS’ operations have been halted following an enquiry by China’s regulatory authorities around its services offered to users.”
Moreover, according to the blog post, this may not align with the capital controls regulations in China. The firm also insists on the announcement that operations had halted while the authorities looked into the case to safeguard user interests. Then, the exchange indicated that it plans to cooperate appropriately with Chinese law enforcement.
In the while Bitcoin Price Fell to $2,5K
Silvergate Bank Celebrated Its IPO DayShares of Silvergate Bank recently launched for trading on the New York Stock Exchange (NYSE) last November 7. In a tweet of NYSE, it is officially listed Silvergate Capital, opening at $12.75.
In addition to that, the firm also celebrates its initial public offering (IPO) day, NYSE revealed.
Then, following the news, Silvergate Capital Corporation declared the pricing of its IPO of 3,333,333 shares of its Class A common stock at a public offering price of $12.00 per share.
Aside from that, Silvergate indicated that they expect the offering to close on November 12. And also, it is subject to customary closing conditions.
Now, going back to that announcement, the company also highlighted that the United States Securities and Exchange Commission (SEC) declared the registration statement about securities of Silvergate to be effective.
In a filing of the SEC on October 28, Silvergate saw its number of digital currency customers rise. From 655 of June 30, 2019, it became 756 of September 30, 2019. In a previous report, those customers include crypto-related clients like exchanges, miners, and custodians, among others.
Fiat Transfers
Meanwhile, back in August 2019, Winklevoss twins-founded crypto exchange Gemini became a part of the Silvergate Exchange Network (SEN) of Silvergate. And they aim to speed fiat transfers. The SEN is a network of crypto exchanges and investors. Then, this allows transactions of the U.S. dollars between SEN members any time, 24 hours a day, 7 days a week, 365 days a year.
Based on the filing, the SEN registered $10.4 billion in transfers for the three months ending on September 30. And this delivers total transfers on the SEN to $23.1 billion. Furthermore, complete fiat transfers, including wires to $41.5 billion for the nine months ended on September 30. During the same time in 2018, the numbers amounted to $4.4 billion and $25.9 billion, respectively.
HMRC Updates Cryptocurrency GuidelinesThe HMRC (Her Majesty’s Revenue and Customs) is the tax, payments, and customs authority of the United Kingdom. Recently, it has renewed its cryptocurrency taxation guidelines for businesses and individuals.
In addition to that, the U.K. government tax agency handles taxes alongside other financial policies. On November 1, it issued tax guidelines updates. The government further clarified its stance on the taxing of businesses and individuals involved with cryptocurrencies.
Aside from that, the guidelines set out the view of HMRC on the crypto transaction, where taxes apply, how to file tax returns and accounting practices, among others. Also, it considers the taxation of exchange tokens. At the same time, it stated that they would add regulations for utility or security tokens in the future.
Companies that need to pay for one or more different types of tax are the ones that buy or sell tokens, mine exchange for other assets. Also, they also included firms that offer goods or services in return for tokens. The taxes that they are liable to pay are income tax, corporation tax, capital gains tax, stamp taxes, and National Insurance contributions.
According to HMRC, it does not see any of the current types of cryptocurrency as money or currency.
Bitcoin on October Closing
Meanwhile, Bitcoin (BTC) price failed to impress as October closed. Approximately 194 days remain until the next Bitcoin halving. This might feel like an eternity away for the ones involved in the crypto space.
Then, this week, there were various negative news events such as the Bitmex email leak and the Coinbase flash crash. Moreover, this resulted in mass liquidations on Deribit. Now, investors are wondering if the Bitcoin price could show astounding gains in the short term.
For the past few days, Bitcoin got stuck in a tight range between $9,100 to $9,400.
Altcoin vs bitcoin marketcap price prediction. Time to buy alts!Analysis based on chart pattern. History usually repeat itself.
What do you think about it dear traders?
