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• Cardano (ADA) price is trading above $0.320 and the 55 simple moving average (4-hours).
• There is a key contracting triangle forming with resistance near $0.350 on the 4-hours chart.
• A clear move above the $0.350 resistance might start a strong increase, perhaps towards the $0.368 resistance.

Cardano Price Analysis

Cardano price is showing positive signs above $0.320 against the US Dollar, similar to bitcoin. ADA price could gain bullish momentum if it clears the $0.350 resistance.

Resistance Levels

An immediate resistance for cardano is near the $0.344 zone, which is close to the 50% Fib retracement level of the downward move from the $0.3579 swing high to $0.33171 low. The next major resistance is near the $0.350 level, where there is a key contracting triangle forming with resistance on the 4-hours chart (data feed via Coinbase).

Support Levels

If cardano moves lower, an immediate support will be found near at around $0.332 level or possibly even lower at around $0.320 mark which could send ADA towards its next major support at around the$ 0

• The SEC has announced that it will be suing Paxos, the issuer of stable coin BUSD, for selling an unregistered security.
• Many analysts now fear that this could signal the start of an all-out crypto war from the SEC.
• Bitcoin prices have dropped due to the news, and further macroeconomic developments may cause a steeper correction in BTC prices.

SEC’s Unpopular Move

The Securities and Exchange Commission (SEC) recently announced its intention to sue Paxos, the issuer of stable coin BUSD for selling an unregistered security. This move has been met with criticism from analysts who fear it could signal an all-out crypto war from the SEC.

Kraken Settlement

Compounding fears is recent settlement between U.S. crypto exchange Kraken and the SEC where Kraken was ordered to pay a $30 million penalty fee and shut down its staking services as part of the agreement. Marcus Sotiriou – market analyst at digital asset broker Global Block – expressed his concern by saying: „The SEC war on crypto is only just getting started.“

Price Drop

The announcement sent shockwaves through cryptocurrency markets causing Bitcoin prices to drop below $22K after previously holding steady at around that level. Joe DiPasquale – CEO of Bit Bull Capital – commented on this situation by saying: „While bitcoin has shown general resilience in this rally that started on January 1, we are now looking at a key level which should indicate whether or not we see a steeper correction.“ He added that if BTC fails to reclaim $23,000 then it could „fall toward $20,000 rather quickly“.

Macroeconomic Impact

The fate of cryptocurrencies is also largely affected by macroeconomic developments such as December consumer prices being higher than expected which could lead to a bigger rate hike in the next Fed meeting according to DiPasquale.

Conclusion

It is clear that the SEC’s decision to sue Paxos for selling an unregistered security has had significant negative impacts on cryptocurrency markets leading some analysts to fear an all-out crypto war from regulators may be coming soon.

• The Federal Reserve has predicted decreased inflation for 2023, which caused the price of Bitcoin to spike.
• Jerome Powell warned that rate hikes could mean more individuals unable to achieve the American dream and that inflation goals may not be met in 2023.
• Bitcoin had its worst year on record in 2022, falling from an all-time high of $68,000 to around $16,600 by the end of the year.

Good News From The Fed

The Federal Reserve recently announced that they are predicting decreased inflation for 2023, causing a surge in the price of bitcoin. Jerome Powell, Federal Reserve chair, said during an interview: “We expect 2023 to be a year of significant declines in inflation.“ He also warned that rate hikes could mean more individuals unable to achieve the American dream and that inflation goals may not be met in 2023.

Bitcoin’s Worst Year On Record

Prior to this news about decreased inflation for 2023, bitcoin had its worst year on record in 2022. Bitcoin rose to an all-time high of $68,000 per unit but then dropped into the high $40,000 range over a period of eight weeks – resulting in a loss of $20K. By 2022’s end, bitcoin was trading at around $16,600 – more than 70 percent below its all-time high. Many other forms of crypto also saw losses during this time as well and caused the crypto industry as a whole to fall below $1 trillion when it had been valued at more than $3 trillion just 11 months prior.

Positive Feedback

Since then however, bitcoin has seen somewhat of a bullish period with prices adding up roughly $7K over the last few weeks – giving investors hope again and allowing them to put 2022 firmly behind them where it belongs. This news from The Fed regarding potential decreases in inflation was taken positively by many investors hoping for some good news after enduring such a terrible year with their investments last year.

Rate Hikes Ahead?

Jerome Powell did warn however that rate hikes could still occur throughout this upcoming year and even into 2024 – meaning house and car sales may decline due to fewer people being able to pay interest rates on such items. It is uncertain whether or not we will see any further rate hikes but it is something worth keeping an eye on nonetheless as it could have serious implications for both businesses and individuals alike if we do indeed see further rises throughout this period as Jerome Powell predicts we might do so .

Conclusion

Overall though there seems to be some positive signs ahead for those who are invested in cryptos despite warnings from Jerome Powell about possible future rate hikes which could still cause some issues down the line if they come about as he expects them too . We will have to wait and see how these developments unfold over time but at least there is some reason for optimism following what was an incredibly difficult year for crypto investors everywhere .

• Bitcoin price prediction reveals that BTC is yet to gain strength above the resistance level of $25,000.
• Technical indicator Relative Strength Index (14) suggests sideways movement for the coin.
• If buyers can reinforce and power up, BTC/USD could experience a clear break above the resistance levels of $28,000, $29,000, and $30,000.

Bitcoin Price Prediction for Today

The Bitcoin price prediction reveals that BTC is yet to gain strength above the resistance level of $25,000 as the coin ranges. At the opening of today’s trading; the king coin touches the resistance level of $24,495 but begins to bring the coin below the 9-day moving average.

Technical Indicator

The technical indicator Relative Strength Index (14) moves in the same direction around the 40-level, suggesting sideways movement. On the other hand, if the king coin crosses above the 9-day moving average; it could head towards the upper boundary of the channel and a clear break above this barrier may cause Bitcoin to reach its resistance levels at $28,000, $29,000 and $30,000.

Possible Movements

As Bitcoin hovers within moving averages heading towards lower boundary of channel may increase selling pressure; if there are more losses then it could break major supports at $21K-$19K. Meanwhile if buyers reinforce and power up then it could head towards upper boundary of channel and a clear break will take BTC to its resistance levels.

• The G20 is meeting to discuss the creation of a standard operating procedure (SOP) for crypto regulation.
• India’s Finance Minister Ms Nirmala Sitharaman has expressed strong focus on discussing crypto regulations during the G20 presidency.
• The G20 appears as a suitable platform, comprising the European Union and 19 other nations, with an imperative to address global economic concerns such as financial stability, climate change, and sustainable development.

G20 To Discuss How to Regulate Cryptocurrencies

The last decade and a half have seen a steep rise in the use and proliferation of cryptocurrencies, leading to a corresponding rise in interest in these digital assets. While some view cryptocurrencies as an opportunity for disruptive innovation, others remain concerned about the dangers they may impose. The G20’s member countries have also taken this up as a key agenda at their latest meetings, trying to arrive at a consensus on the regulation of cryptocurrencies.

G20 Focus on Bringing Standardization to Crypto Regulation

The G20 is meeting to discuss, among other themes, the creation of a standard operating procedure (SOP) for crypto regulation. These regulation SOPs will extend to not just cryptocurrencies but also accompanying assets. With India at the helm of the G20 as its President from December 1, 2022, to November 30, 2023, the country is expected to spearhead these key discussions. India’s Finance Minister Ms Nirmala Sitharaman has earlier expressed India’s strong focus on discussing crypto regulations during the G20 presidency. She has called for a global consensus on the matter to address threats like money laundering and terror funding.

Global Consensus Needed For Crypto Regulations

„There is an evolving consensus and that’s why in the G20, we are raising this issue and having detailed discussions with the members so that a standard operating protocol [SOP] emerges after the discussions,“ noted Indian FinMin Ms Nirmala Sitharaman „Crypto is heavily tech-led and less of human intervention,“ she added. „We are talking to all nations that if a regulation has to be framed then one country cannot frame it alone. So we are speaking to all for forming a standard operating procedure so that it is effective … All these are part of [the] discussion.“

G20 Suitable Platform To Address Global Economic Concerns

The process of discussion is ongoing within G20 countries – which together represent 75% of world trade; 85% of global GDP; and 75% of world population – making it an ideal platform for addressing global economic concerns such as financial stability; climate change; sustainable development; etc..

Conclusion

It remains unclear how exactly regulatory standards will be set but with Indian FinMin clearly expressing her support towards global consensus while leading talks within fellow member states – it seems likely that harmonized regulations will soon become reality when it comes to cryptocurrencies around most parts of globe.

NEAR Price To Explode 46% On Ready Player DAO Partnership News

• Near Protocol recently partnered with Ready Player DAO to advance blockchain-based gaming on the Near Protocol.
• The partnership includes a number of features geared towards helping and supporting gamers on Near Protocol.
• Following the news, the NEAR price rallied 14%, readying for further gains to $3.70.

About the Partnership

The Near Foundation has entered a partnership with Ready Player DAO, one of the world’s top Web3 gaming ecosystems, to advance blockchain-based gaming on the Near Protocol. According to the announcement, the collaboration is aimed at aligning the visions of both parties to build „a self-sufficient gaming ecosystem of creators, developers, entrepreneurs, AND community members… .“ The Ready Player DAO’s announcement said that the partnership includes a number of features geared towards helping and supporting gamers on Near Protocol. This includes collaborating on building and implementing strategic new initiatives within the NEAR Ecosystem to support gaming on NEAR; enabling access to gaming video content and other critical marketing solutions for NEAR-native games; providing gaming communities with access to Ready Player DAO on NEAR for their favorite NEAR-native games; and providing resources from Ready Player DAO for advising NEAR-native gaming projects on product and go-to-market strategies.

Technical Analysis

Prior to partnering with Ready Player DAO, NEAR price was consolidating inside a bullish triangle while trading above key support areas. The technical setup favored an upside breakout as buyers fixated their eyes at $3.70. With this recent development, it is expected that this could provide tailwinds needed to scale NEAR higher in terms of price action.

Price Action

Following the news about their partnership with Ready Player DOA, Near Protocol surged 14% up reaching a high of $2.84 Wednesday morning This indicates that investors are positive about this move potentially leading further gains up ahead as they target breaking past resistance levels set around $3-$3.20 in order reach its next peak at around $3.70 .

Conclusion

Near Protocol’s recent partnership with Ready Play DOA is expected to fuel an uptrend in its price action as investors look forward in anticipation for further gains heading into 2021. With its current technical analysis also favoring an upside break out soon , things are looking very promising for those investing in near protocol as they can potentially gain more than 46%.

• Bitcoin saw a significant increase in value by almost 40% in January 2023, compared to the 4% fixed income return from US Treasury bonds
• A report by Goldman Sachs showed that Bitcoin was the leading asset in terms of returns and risk-adjusted returns, surpassing equities, precious metals, and global indexes such as the S&P 500.
• The Federal Reserve Interest Rate Decision has potential to impact various assets, including Bitcoin.

Bitcoin’s Performance Indicates Promising Future

The price of Bitcoin has been hovering around $23k for about a week now and now that we’ve entered February, investors are curious about the outlook of the token for the month. Bitcoin’s price saw a significant increase in value by almost 40% in January 2023, compared to the 4% fixed income return from US Treasury bonds. An individual who invested $1000 in Bitcoin at the beginning of the year now has approximately $1400, while someone who invested the same amount in a 20 or 30-year Treasury bond only has $1040. The Bitcoin market has hence positioned itself as a better long-term investment option compared to government bonds. A report by Goldman Sachs showed that Bitcoin was leading asset in terms of returns and risk-adjusted returns, surpassing equities, precious metals, and global indexes such as S&P 500.

Two Countries Accepting Legal Tender

The recent failure of FTX and Alameda have hurt reputation of cryptocurrency industry resulting financial losses for many institutional investors. Nonetheless, Bitcoin market recently celebrated its 14th anniversary with two countries El Salvador and Central African Republic accept it legal tender. The price of bitcoin at time writing is around $23135 with market capitalization of $446 billion since surge crypto market credited short squeezes forced liquidations where approximately 22910 traders lost approximately 59 million past 24 hours however impact large bitcoin investors known “whales” also been significant driving rally.

Fed Interest Rates Put Into Question Bitcoins Future In Question

The Federal Reserve Interest Rate Decision with subsequent press conference Fed Chairman Jerome Powell major event financial market potential impact various assets including bitcoin Fed reserve two mandates maintain low unemployment rates control inflation rate decision result change interest rates which then impacts variety investments both short term long term horizon These changes affects yield curve shape dictate borrowing costs businesses determine cost savings accounts mortgage loan payments etc Generally speaking if Federal Reserve increases interest rate tend slow economy down vice versa when reduce cause economic growth

Impact On Price Of Crypto Markets

The current federal funds rate 025 percent If Federal Reserve decides raise rate could lead decrease prices crypto markets Conversely if lowers result increased prices crypto markets This due fact lower borrowing costs encourage more individuals invest funds into asset classes like stocks commodities digital assets like cryptocurrencies Higher interest rates decrease amount money flow into these markets making less attractive However this not always case depends on sentiment surrounding particular asset class instance sentiment strong enough even higher interest rates unable stop buying pressure push prices higher

Conclusion

In conclusion while Federal Reserve Interest Rate Decision can certainly have an effect on prices crypto markets overall performance digital asset classes still largely determined by general sentiment public towards them Factors such news events regulations policy announcements technology updates investor confidence all play role determining whether particular token or coin increase decrease value over time any given period

• Bitcoin closed the day close to where it began on Tuesday, hovering around $22,870.
• Investors are curious as to where Bitcoin might head from here, in part affected by the anticipated GDP figures set to be released on Thursday.
• Bitcoin has been on an upward trend since November 21st, breaking out from a long-term declining resistance line on January 13th and pushing the Relative Strength Index (RSI) movement above 70.

It has been an exciting few weeks for the cryptocurrency market, with Bitcoin (BTC) leading the charge and pushing the price to new all-time highs. After closing the day close to where it began on Tuesday, Bitcoin was trading at $22,870 at the time of writing. This hasn’t affected the excitement around the token as investors are more curious than ever as to where Bitcoin might head from here, in part affected by the anticipated Gross Domestic Product (GDP) figures set to be released on Thursday.

The recent surge in Bitcoin’s price has been fueled by a combination of factors, including increased institutional adoption and growing interest from retail investors. Additionally, the demand for Bitcoin has been further bolstered by its finite supply and the upcoming halving event. All of these factors have combined to push Bitcoin’s price up significantly since its November 21st low of $15,476.

On December 30th, the price accelerated its rate of increase and broke out from a long-term declining resistance line in place for nearly six months. This was a strong sign that the correction had ended and the bullish trend was back in full force. Additionally, the fact that the breakout was combined with a Relative Strength Index (RSI) movement above 70 indicated that the uptrend was likely to continue.

As investors eagerly await the release of the GDP figures for Q4 2022, many are speculating that the numbers will further strengthen Bitcoin’s bullish momentum. If the figures reflect a strong economic recovery, it could lead to investors seeking safe-haven assets such as Bitcoin, which could push the price up further.

With the future of Bitcoin still uncertain, one thing is certain – the anticipation around the cryptocurrency is at an all-time high. As investors and traders look to the GDP figures and other economic indicators, the coming days could be crucial for the future of the world’s largest cryptocurrency.
Only time will tell where Bitcoin will go next, though one thing is certain – it’s an exciting time to be in the cryptocurrency market.

• Genesis Global Capital, a crypto lender, recently filed for Chapter 11 bankruptcy.
• The company’s lawyers have informed a bankruptcy court in New York of working „around the clock“ to settle with creditors.
• Lawyers from the Cleary Gottleib law firm representing Genesis in the bankruptcy process are expecting to settle by the end of the week.

Genesis Global Capital, one of the leading cryptocurrency lenders, has recently filed for Chapter 11 bankruptcy. The filing was made to the US Bankruptcy Court in the Southern District of New York. The filing included two of the lender’s subsidiaries, Genesis Asia Pacific and Genesis Global Capital.

The filing came two months after Genesis halted withdrawals due to its exposure to FTX, an exchange that had gone bankrupt. Since then, the company’s lawyers have been working with the representatives of creditors and the US Trustee Office to reach a consensus. As informed to the bankruptcy court judge, the lawyers have been working “around the clock” to settle with the creditors.

The lawyers from the Cleary Gottleib law firm representing Genesis in the bankruptcy process have informed the court that they are aiming to settle the issue by the end of the week. Attorney Sean O’Neal explained that the lender had come up with a timeline and an approach to assist in getting through the bankruptcy case. O’Neal also pointed out that the company did not want prolonged litigation that would impact the value available to the creditors.

Another attorney representing Genesis, Jane VanLare, said the firm was also exploring a potential sale to raise funds. The attorneys are hopeful that the process will be resolved soon and the creditors will be able to get the value they deserve. They are currently in the process of putting together a plan of action that will ensure a swift resolution of the bankruptcy case.

The crypto bear market has taken a toll on many industry players, and Genesis Global Capital is no exception. The lawyers representing the firm are optimistic that the bankruptcy process will be resolved soon and that the creditors will receive the value they deserve.