Korea and US agree to share investigation data on Terra-Luna
South Korean justice minister Han Dong-hoon was in New York recently to discuss various ways in which the two nations can corporate on investigations associated with financial crimes, especially crypto-related crimes.
The two sides have reportedly agreed to share their latest investigation data around Terra-LUNA, a crypto project under investigation in both countries.
Source
South Korean justice minister Han Dong-hoon was in New York recently to discuss various ways in which the two nations can corporate on investigations associated with financial crimes, especially crypto-related crimes.
The two sides have reportedly agreed to share their latest investigation data around Terra-LUNA, a crypto project under investigation in both countries.
Source
Ethereum Inches Closer to the Merge With Sepolia Testnet Launch
Ethereum has successfully completed its latest testnet for “the Merge.”
Key Takeaways:
🔸Ethereum has shipped "the Merge" on Sepolia testnet.
🔸The top smart contract blockchain is set for one final testnet launch ahead of its mainnet deployment.
🔸The Merge is a highly anticipated update that will see Ethereum move away from Proof-of-Work to Proof-of-Stake.
Source
Ethereum has successfully completed its latest testnet for “the Merge.”
Key Takeaways:
🔸Ethereum has shipped "the Merge" on Sepolia testnet.
🔸The top smart contract blockchain is set for one final testnet launch ahead of its mainnet deployment.
🔸The Merge is a highly anticipated update that will see Ethereum move away from Proof-of-Work to Proof-of-Stake.
Source
Top 10 Rules For Successful Trading
Understanding the importance of each of these trading rules, and how they work together, can help a trader establish a viable trading business. Trading is hard work, and traders who have the discipline and patience to follow these rules can increase their odds of success in a very competitive arena.
Understanding the importance of each of these trading rules, and how they work together, can help a trader establish a viable trading business. Trading is hard work, and traders who have the discipline and patience to follow these rules can increase their odds of success in a very competitive arena.
Crypto Hater Peter Schiff Would Accept Bitcoin as Payment for His Troubled Bank
Famous cryptocurrency critic Peter Schiff answered in the affirmative when asked if he would sell his troubled Euro Pacific Bank for Bitcoin. Despite his dislike of cryptocurrencies, if such a deal were approved by the regulator, he would agree to it, Schiff said. The economist argued his position with the fact that it is important for him, first and foremost, to protect the bank's clients.
Schiff also agreed with another user that when dealing with cryptocurrencies, one does not have to worry about his bank being shut down but has to worry about Bitcoin collapsing in market value, the investor sarcastically noted.
Source
Famous cryptocurrency critic Peter Schiff answered in the affirmative when asked if he would sell his troubled Euro Pacific Bank for Bitcoin. Despite his dislike of cryptocurrencies, if such a deal were approved by the regulator, he would agree to it, Schiff said. The economist argued his position with the fact that it is important for him, first and foremost, to protect the bank's clients.
Schiff also agreed with another user that when dealing with cryptocurrencies, one does not have to worry about his bank being shut down but has to worry about Bitcoin collapsing in market value, the investor sarcastically noted.
Source
July 12: Bitcoin Update:
🔸As expected, BTC slipped lower with the Nasdaq index just before the US CPI data release. The fear of high inflation is relevant in the US market
📚Understanding the macro market right now is this:
High inflation👉High Interest rate👉Bullish Dollar Index (DXY) 👉Bearish Stocks and Equities
🚨We are likely to see volatility and fake outs in the next 2 days, expecting the FED will continue to increase interest rates by 75BP this coming FOMC meeting.
🔸If CPI data will better than expected; we will see recovery in all markets but if we see higher record of inflation then expect the bearish momentum will continue.
🔸In the chart we can see a rising wedge pattern which presents BTC's support at $19600. Bulls would likely to play this range with tight SL.
📈$19600 and $17600 are two major supports for bitcoin while resistance is $22600
Keep a close eye on the US CPI data and play only at support with tight SL.
🔸As expected, BTC slipped lower with the Nasdaq index just before the US CPI data release. The fear of high inflation is relevant in the US market
📚Understanding the macro market right now is this:
High inflation👉High Interest rate👉Bullish Dollar Index (DXY) 👉Bearish Stocks and Equities
🚨We are likely to see volatility and fake outs in the next 2 days, expecting the FED will continue to increase interest rates by 75BP this coming FOMC meeting.
🔸If CPI data will better than expected; we will see recovery in all markets but if we see higher record of inflation then expect the bearish momentum will continue.
🔸In the chart we can see a rising wedge pattern which presents BTC's support at $19600. Bulls would likely to play this range with tight SL.
📈$19600 and $17600 are two major supports for bitcoin while resistance is $22600
Keep a close eye on the US CPI data and play only at support with tight SL.
Important Dates in JULY that can affect the markets
13th July- Inflation data will be announced. Last month it was 8.6%. The projection for inflation in the markets is 8.8% if the inflation rate is more than this it will affect the markets in a negative way.
27th July- Interest rate hike will be announced, as per the meeting FED expects it to be 50 or 75bps if it is more than 75 we will see a major crash, at 50bps we might see some relief as last month it was 75BPS
28th July- US GDP numbers will be released, previously it was -1.5%, with the inversion of the yield curve we are already at the door of a recession, and with a GDP forecast of negative growth in this quarter too there will be a recession that can last 6-12 months.
13th July- Inflation data will be announced. Last month it was 8.6%. The projection for inflation in the markets is 8.8% if the inflation rate is more than this it will affect the markets in a negative way.
27th July- Interest rate hike will be announced, as per the meeting FED expects it to be 50 or 75bps if it is more than 75 we will see a major crash, at 50bps we might see some relief as last month it was 75BPS
28th July- US GDP numbers will be released, previously it was -1.5%, with the inversion of the yield curve we are already at the door of a recession, and with a GDP forecast of negative growth in this quarter too there will be a recession that can last 6-12 months.
SPX500 with the CPI Data scheduled to release today
🚩 Falling wedge possibilities for CPI data:
🔸 Bullish - Breakout and re-test of $410.
🔸 Bearish - Demand exhaustion (weekly volume) and continued distribution to a test of lower quadrant and 200SMA test at $342.
🔹 Take note that Crypto is highly correlated with the global market.
🚩 Falling wedge possibilities for CPI data:
🔸 Bullish - Breakout and re-test of $410.
🔸 Bearish - Demand exhaustion (weekly volume) and continued distribution to a test of lower quadrant and 200SMA test at $342.
🔹 Take note that Crypto is highly correlated with the global market.
BTC quick Take:
🔸 This Ascending Triangle pattern is now Invalid. The trendline support is broken and expect more downward movement for the price
🔸 The first support for this drop is at around 18,700 zone. Take note that there are a lot of stop losses below this significant level. Smart money is most likely targeting this liquidity.
🔸 This Ascending Triangle pattern is now Invalid. The trendline support is broken and expect more downward movement for the price
🔸 The first support for this drop is at around 18,700 zone. Take note that there are a lot of stop losses below this significant level. Smart money is most likely targeting this liquidity.
Charles Hoskinson Responds to Michael Saylor Calling ADA Security, Here's What He Says
Hoskinson compared Michael Saylor to Tone Vayes in the current period the crypto market is living through. Vays, as the Cardano CEO reminded the community, used to be very popular and used to call everything, except Bitcoin, a scam. Now, Hosk stated, Michael Saylor has taken his place, saying that “Bitcoin is the way” and everything else is a scam or a security.
Cardano founder made a reminder that Cardano is far more decentrealized than Bitcoin, it has far more utility than BTC that is merely a store-of-value, according to Hoskinson, and he stated that people keep buying ADA not just to speculate but to spend ADA on various products and services offered by Cardano-based projects.
Source
Hoskinson compared Michael Saylor to Tone Vayes in the current period the crypto market is living through. Vays, as the Cardano CEO reminded the community, used to be very popular and used to call everything, except Bitcoin, a scam. Now, Hosk stated, Michael Saylor has taken his place, saying that “Bitcoin is the way” and everything else is a scam or a security.
Cardano founder made a reminder that Cardano is far more decentrealized than Bitcoin, it has far more utility than BTC that is merely a store-of-value, according to Hoskinson, and he stated that people keep buying ADA not just to speculate but to spend ADA on various products and services offered by Cardano-based projects.
Source
People often always want to get rich quickly, It seems no one can wait 10 years 😬😅 But ask successful people how long it took them to be successful, you won't hear "1 year" or "2 years" very often, so what exactly do you expect? Don't be fooled by quick get-rich-quick offers, rather set goals for the next year, the next 3 years, etc., and then take a step in the right direction every day! Don't miss the next bull run!
Ethereum Classic (ETC) Rallies for Mind-blowing 30% Ahead of Merge Update on Ethereum
Ethereum's hard fork Ethereum Classic, launched back in July 2016, gains an insane momentum on the cryptocurrency market ahead of one of the biggest updates in the history of the "main" Ethereum network.
We shall also see a "great migration" of cryptocurrency miners from Ethereum to alternative networks or Bitcoin as the current hashrate of Ethereum stays at 892 TH/s. Ethereum Classic's hashrate is seeing a large spike in the last 24 hours as mining power reaches 21 TH/s from 19 TH/s.
Source
Ethereum's hard fork Ethereum Classic, launched back in July 2016, gains an insane momentum on the cryptocurrency market ahead of one of the biggest updates in the history of the "main" Ethereum network.
We shall also see a "great migration" of cryptocurrency miners from Ethereum to alternative networks or Bitcoin as the current hashrate of Ethereum stays at 892 TH/s. Ethereum Classic's hashrate is seeing a large spike in the last 24 hours as mining power reaches 21 TH/s from 19 TH/s.
Source
Gary Gensler Outlines What to Expect From SEC on US Crypto Regulation
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has outlined what to expect from the securities watchdog on crypto regulation. “We do have robust authorities from Congress also to use our exemptive authorities that we can tailor investor protection,” he explained.
“So, we at the SEC, are working in each of those three fields — exchanges, lending, and the broker-dealers — and talking to industry participants about how to come into compliance, or modify some of that compliance.”
“We are also looking at the tokens, the stablecoins, and the non-stablecoins. Separately, we do have discussions with the bank regulators and with our friends and colleagues at the CFTC.”
Source
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has outlined what to expect from the securities watchdog on crypto regulation. “We do have robust authorities from Congress also to use our exemptive authorities that we can tailor investor protection,” he explained.
“So, we at the SEC, are working in each of those three fields — exchanges, lending, and the broker-dealers — and talking to industry participants about how to come into compliance, or modify some of that compliance.”
“We are also looking at the tokens, the stablecoins, and the non-stablecoins. Separately, we do have discussions with the bank regulators and with our friends and colleagues at the CFTC.”
Source