crypto news – CetoEX News Inform Trends & Happenings

Bitcoin Price Update: Death Cross Looming as BTC Falls Below $23K

Howdy — Fri, 10 Feb 2023 02:48:22 +0000

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Cetoex News – In what is a rather rare occurrence, the weekly Bitcoin price update shows a death cross looming as BTC falls below $23k. The year has seen the cryptocurrency rebound from an abysmal 2022, but the looming bearish death cross on the weekly chart could provide potential concern.

The crypto’s 50-day weekly moving average looks to cross below the 200-day MA in a development that would create a well-known market symbol. Bitcoin has never seen the symbol appear in its weekly chart, worrying some. Conversely, U.Today notes some analysts believe it is no reason to be alarmed.

Death Cross Appears on BTC Weekly Chart?

The death cross is a well-known aspect of the stock market and occurs when any stock’s short-term moving average falls below its long-term moving average. The indicator is the juxtaposition of the Golden Cross, representing different outlooks on a market going forward. The death cross typically suggests the potential of a long-term bear market.

That lauded indicator has now appeared in the BTC weekly chart, as this Bitcoin price update is headlined by the looming death cross. 2022 was a horrendous year for cryptocurrency, which makes a long-term bear market understandable. The digital asset plummeted throughout 2021-2022.

Source: South China Morning Post

Subsequently, BTC has fallen to a four-week low, reaching $22,408 this morning before rebounding to $22,638 at the time of publication. Moreover, U.Today surmises news of the US Securities and Exchange Commission investigating crypto exchange platform, Kraken, sparked a market decline today.

The development, as well as comments from Fed officials throughout the week, have offered new takes on the US economic outlook. Still, with the death cross likely causing some concern, there is a sentiment that there is little reason to worry. U.Today states, “Some analysts believe the indicator is based on backward-looking moving averages, as most of the sell-off might have occurred before the crossover.”

NEWS BY – CETOEX NEWS

Joe Biden is Going to Ban the Crypto?

Howdy — Fri, 10 Feb 2023 02:42:39 +0000

credit – Cetoex.com

Cryptocurrencies have gained popularity over the years. However, they have always received mixed reactions from countries around the world. Some nations are completely open to the idea of cryptocurrencies, whereas others are totally the opposite.

The Biden administration has recently received criticism for possibly trying to ban Bitcoin and other cryptocurrencies “quietly.” The accusation was pointing towards something called “Operation Choke Point 2.0.”

credit – cetoex.com

Operation Choke Point dates back to 2013

The operation was an initiative by the US DOJ that began in 2013 with investigations into banks and their links with firms that are associated with fraud and money laundering risks. The operation came to a halt in August 2017 when several lawsuits were also settled.

“Some in the crypto space believe that the recent attempts to ringfence the crypto industry and cut off its connectivity to the banking system are reminiscent of this little-known Obama-era program,” cryptocurrency venture capitalist Nic Carter said.

Carter wrote in his substack post that the Biden administration is using the banking sector to implement a crackdown on the cryptocurrency realm.

Source: Money

“And the administration’s efforts are no secret: they’re expressed plainly in memos, regulatory guidance, and blog posts.”

However, such a move will end up being fatal for the country as a whole, as nations like Dubai are eyeing becoming cryptocurrency hubs. The FTX collapse was also a triggering point for nations to implement a tough stance on cryptocurrencies.

NEWS BY – CETOEX NEWS

5 Crypto going to Fly in Coming Days?

Howdy — Sun, 25 Dec 2022 05:22:45 +0000

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As We All Know crypto is all about buying and selling and And if we know that the price of which coin is going to increase, then we can earn good profit, today we will learn about some such predictions.

1. FIGHTOUT (FGHT)

FightOut is a new crypto project aiming to revolutionize the Move-To-Earn industry. Its goal is to motivate users to stay active by rewarding them with REPS tokens. That way, users will improve their health while earning valuable tokens.

Once they earn enough REPS tokens, users can exchange them for native FGHT coins or mint them into NFTs. FightOut will work as a smartphone app, similar to STEPN, but it will offer more exercise choices and higher rewards. Anyone can start earning tokens as soon as they buy a virtual pair of sneakers that monitors their progress in real-time.

Make sure to visit the official FightOut site to learn more about the many features that separate this platform from all others that use M2E mechanics. FGHT tokens are available in presale, so invest today and you’ll enjoy the highest returns in the future.

2. DASH2TRADE (D2T)

Dash2Trade is a unique crypto analytics and social trading platform designed to streamline crypto trading, reduce risk, and allow users to invest with more confidence.

Dash 2 Trade will change the entire industry by introducing an all-in-one dashboard that makes it easy to find the best investment options, review social sentiment surrounding projects, and much more. The platform will find the best deals, send trading signals in real-time, and simplify the otherwise time-consuming process of market analysis.

The platform’s native token, D2T, is used to purchase paid subscriptions. The Starter pack will cost 400 D2T, while the Premium version with all features unlocked will require 1,000 tokens every month. Users who opt for premium subscriptions will get valuable insights that will tip the odds in their favor, increasing ROI while reducing overall risk.

Dash 2 Trade had a hugely successful token presale that ended months before the schedule. It was supposed to have nine stages but will end after stage four. There are still a few million tokens left, so hurry up and invest in the world’s best crypto analytics platform.

3. C+ CHARGE (CCHG)

C+ Charge is another new crypto project that entered presale recently. It’s another unique platform designed to cater to a fast-growing multi-billion electric vehicle industry. Namely, it will reward individual EV owners with carbon credits every time they charge or drive their vehicles.

It will feature a built-in carbon credit exchange where users can swap the credits they earn for native CCHG tokens. Now, this is where the project gets interesting, once the users get CCHG tokens, they can use them to pay for electric vehicle charging services anywhere in the world.

Not only will the user reduce their carbon footprint and help battle green gas effects, they will also be able to pay for charging services without spending a single cent! CCHG tokens are available in presale right now, so invest today and secure a spot among the earliest investors to get the highest returns in the future.

4. IMPT.io (IMPT)

IMPT.io is the world’s greenest crypto project. It’s a truly unique platform with a noble goal. Namely, IMPT aims to spread awareness about carbon pollution and provide the world with a system that allows users and multinational corporations to track and reduce their carbon footprints.

That’s why IMPT teamed up with over 10,000 recognized worldwide brands, including Microsoft, Amazon, Hugo Boss, Adidas, and many others. Every time users buy something from any partnered brands, they will receive carbon credits. They can then exchange the credits for IMPT tokens within the built-in exchange, or mint them into NFTs for value preservation.

IMPT’s token preseale was a massive success. The platform raised over $20 million a full month ahead of schedule. IMPT tokens became available on multiple CEX/DEX listings since then, and their price is growing steadily. Find IMPT on LBank and become a part of the greenst crypto project that will donate a portion of its income to fund eco-friendly projects worldwide.

5. CALVARIA (RIA)

Calvaria: Duels of Eternity is also a unique crypto project that will not only surpass Shiba Inu, but also establish itself as one of the best Play-to-Earn platforms on the market. The project is built around a fantastic trading card game that allows users to earn native RIA tokens for winning tournaments and completing various challenges.

The game is designed in a way that ensures that users get full ownership of their resources. RIA tokens are used to upgrade card decks, unlock new characters, and make in-game purchases from the store. Apart from having excellent tokenization and in-game tokenomics, Calvaria offers incredible gameplay, amazing on-screen effects, and much more.

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Diamond Hands — Where Does it Come From and What Does it Mean?

Howdy — Sat, 24 Dec 2022 02:05:58 +0000

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People who are involved in the cryptocurrency realm are frequently exposed to a variety of interesting slang. Some of these slang terms that cryptocurrency investors or traders may have run into include HOLD, FUD, DYOR, Moon, Rekt, and more.

“Diamond Hands” is one such expression that a trader or investor frequently hears. Let’s examine these “hands” and their historical context.

Diamond Hands – the Origin

The term “Diamond Hands” is thought to have first appeared in 2018. The phrase was first used on Reddit in the r/WallStreetBets subreddit, which is where everything started. Initially, the term was used to refer to highly volatile investments like meme stocks and cryptocurrencies.

Despite the fact that the term was first used in 2018, it really began to catch on in 2021. When the GameStop stock surge was first announced on the Reddit forum, the term really took off like wildfire.

What does it mean?

Typically, “Diamond Hands” are used to illustrate a trader’s risk tolerance. Diamond Hands are those who keep their investments in place despite market conditions. The slang typically refers to a trader’s ability to withstand any kind of risk.

A trader who exhibits “Diamond Hands” will not panic sell regardless of how the price of the stock or token fluctuates.

Long-term holdings of potential coins or stocks are generally regarded as a smart move. Under the pressure of the market, holding onto a potential coin may potentially convert your investment into a diamond. On the other hand, a wise trader or investor needs a well-thought-out plan that will enable them to profit in both bull and bear markets.

ARTICAL BY – CETOEX NEWS

How will Bitcoin perform in the final weeks of 2022?

Howdy — Thu, 22 Dec 2022 02:09:21 +0000

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Cetoex News – 2022 has been quite turbulent for the crypto market. With bankruptcies, bear markets, and fraudulent projects taking over, the overall morale has been low. With just two more weeks left before the year ends, the community hopes to witness a Christmas miracle. However, recent reports dismissed these expectancies.

According to the founder of Fairlead Strategies LLC, Katie Stockton, Bitcoin could visit its November lows sooner than expected. She added,

“We expect a retest of the November lows, near $15,600, in the coming weeks after a failed test of levels in the $17,000 to $18,000 range. We ultimately expect Bitcoin to make a lower low, increasing risk to long-term support near $13,900.”

This narrative was put forth by JP Morgan a couple of weeks ago. The banking giant noted that BTC entailed the capability of dropping down to $13K.

At press time, Bitcoin was seen trading for $16,825.14 with a dainty surge of 0.37 percent over the last 24 hours. The asset plummeted from a high of $18,318.53 all the way to a low of $16,398.14.

Source

As mentioned earlier, many in the community have been looking forward to Christmas and its effect on Bitcoin. Prominent crypto exchange, Bitfinex believed that trading activity could take a backseat during the holiday season. The platform said,

“As we approach the end of the year many firms and traders take a break, however the slowdown in trading activity brings with it the risk of higher volatility, given the declines in trading volume and liquidity. This is already evident on the lower timeframes, even if the higher timeframe price action appears to be in a range between $16,000 and $18,000.”

Will Bitcoin suffer in 2023 as well?

While Bitcoin’s fate remains unsure, Nansen was drawing a correlation between crypto and U.S. equities. In accordance with expectations, the current rate range is 4.25 percent to 4.50 percent after the FED recently increased interest rates by 50 basis points. The Feds even stated that they expect the rates to increase by a further 75 basis points in the year 2023.

With all of this at play, Nansen hinted at a possible downtrend in 2023 as well.

“Given the Fed’s determination to maintain tightening for longer, our key scenario for 2023 is a US recession and a US equity sell-off. Crypto prices could experience one further [perhaps final] drop in this cycle before interest rates turn more favorable.”

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Bank For International Settlements New Policy Allows Banks to Hold 2% of Reserves in Cryptocurrency

Howdy — Mon, 19 Dec 2022 01:41:43 +0000

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Cetoex News – The Bank for International Settlements (BIS) has just released its Prudential Treatment of Cryptoasset exposure report for December 2022. In it, they have unveiled a new policy that allows banks to hold 2% of their reserves in cryptocurrency.

This document has arrived following the summer’s second consultation on the prudential treatment of banks’ exposure to crypto assets. Therein, allowing a 1% reserve in crypto from banks. Feedback has led the BIS to this finalized “prudential standard.” The policy will go into effect on the first of January 2025 and outlines various facets of how crypto assets are to be categorized and treated.

BIS Allow Banks Crypto Reserves

It has been a cold crypto winter that has perfectly capped a rather down year for the industry. As various digital assets were already performing poorly, the collapse of FTX charted a turn for the worst. Now, the industry is attempting to move forward with a renewed look into the coming year, and the needs of the market.

Amidst the challenges, the Bank for International Settlements has just published a new policy that will allow banks to hold 2% of their reserves in cryptocurrency. Moreover, the decision was highlighted in the Prudential Treatment of Cryptoasset exposure document that arrived this month.

June’s release of the BIS’s second consultation on the prudential treatment of banks’ exposure to crypto assets outlined similar facets of categorization. Conversely, that document implemented the policy to allow banks to keep 1% of reserves in cryptocurrency. Subsequently, that has been raised by a percentage point.

Source: Today’s Crypto News

The document outlines the two distinct groupings of crypto assets; Group 1 and Group 2. The first grouping is defined as both “tokenized traditional assets,” and digital assets “with effective stabilization mechanisms.” Additionally, Group 2 is defined as digital assets that “fail to meet an of the classification conditions.”

Additionally, the document notes that banks’ exposures to group 2 crypto assets “must not exceed 2% of the bank’s Tier 1 capital,” within their reserves. The development paves the way for banks to grow their reserves in cryptocurrency. Specifically, within the specific thresholds laid out by the BIS.

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Shiba Inu: SHIB Burn Rate Skyrockets Over 2300%

Howdy — Mon, 12 Dec 2022 02:14:37 +0000

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Cetoex News – Shiba Inu has established itself as one of the most notable meme coins in the cryptocurrency world. The meme coins were initially identified as mere meme tokens, but they have since proven to be much more. Shiba Inu and its developments are responsible for the majority of meme coin growth.

Even though Dogecoin is known as the “king of meme coins,” Shiba Inu is undoubtedly the most developed. The SHIB team has worked on a variety of projects for the SHIB Army. The SHIB burn initiative arose from the need to reduce the amount of SHIB in circulation. This, in turn, is done with the intention of creating scarcity and raising prices.

As per the details from Shibburn, the SHIB burn rate has skyrocketed by over 2349% in the last 24 hours.

Shiba Inu burn rate shows a major spike

Shibburn website details reveal that over the last 24 hours, 24,491,971 tokens have been sent to dead wallets. Three transactions involved a sum of over 1 million, and two transactions sent 5 million each to dead wallets. One major transaction, consisting of 10 million, caused the major spike in burn rate.

The spike in burn rate has been one of the highest in recent times. At press time, SHIB was trading at $0.000009208 with no major movements in the last 24 hours. The rise in burn rate hasn’t affected the price of SHIB significantly.

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Will New York impose a fee on Crypto organisations?

Howdy — Sun, 11 Dec 2022 02:30:32 +0000

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Cetoex News – Over the last couple of years, regulations have been an important topic in the crypto industry. While steering away from governments, the industry went on to seek better and clearer regulations. While most countries have been drafting pertinent laws to govern the industry, the US has been rather indifferent. More recently, it was brought to light that the New York State Department of Financial Services [DFS] had put up a proposal to charge firms to regulate them.

DFS put up a proposition that would bring in modifications to the existing laws. Through this, the entity would be allowed to charge licensed crypto firms for regulating them.

As December started, DFS Superintendent Adrienne Harris went on to submit this proposal for public feedback. The public has been given a period of 10 days to decide their stance on the proposal.

“To effectuate the authority granted by the recent amendment of the FSL, this regulation sets forth the basis for allocating the Department’s costs and expenses among Licensees, and the process for making such assessments. This regulation only applies to Licensees, and the assessment only covers the costs and expenses associated with the Department’s oversight of each person’s virtual currency business activities.”

Will this move prove to be detrimental to the crypto industry or make way for better laws?

Harris believed that through this process, DFS would hold firms to the “highest standards in the world.” With the entity collecting supervisory costs, Department will be able to continue safeguarding consumers and guaranteeing the safety and soundness of the industry.

As mentioned earlier, the US does not have a great track record for its crypto regulations. Several crypto proponents have called out government entities that have failed to put forth clear regulations in place.

Additionally, as seen over the last couple of months, the bear market was seen bringing in major losses to the industry. Therefore, the latest move would pose to be detrimental to the market. It is most likely that the public’s feedback would be negative toward DFS’s latest proposal.

NEWS BY – CETOEX NEWS

UK to give tax breaks for investment managers to include Crypto

Howdy — Sat, 10 Dec 2022 02:29:32 +0000

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Cetoex News – The U.K. has said that it will expand tax benefits for investment managers to include cryptocurrency investments. Prime Minister Rishi Sunak has said that he wants the U.K. to be a global crypto hub.

The Treasury announced that it would extend its existing tax relief to the crypto industry. The relief will allow investors to hire U.K. based management without incurring additional tax obligations. The statement was made by the Treasury as part of a set of financial industry reforms published today. The changes in taxation will be made via regulations later this year.

The Treasury also said that it would set up a “sandbox” to test out novel financial market infrastructures in the next year and will hold consultations on a digital pound.

Then-finance minister and current prime minister Rishi Sunak stated his desire to make the UK a cryptocurrency hub. Some have cautioned that additional advertising limitations could prove overly complex. However, the Financial Conduct Authority’s regulator has already given a preliminary outline of how it will utilize new crypto powers.

Minister Andrew Griffith pledged a consultation on utilizing new legislative crypto powers contained in the Financial Services and Markets Bill before the Christmas break. He said that he intended to “tentatively seize” crypto opportunities.

UK Crypto Regulation

The UK Treasury is reportedly drafting a proposal for cryptocurrency regulation, according to The Financial Times. The country aims to bring regulatory changes to the crypto industry and how it works with international businesses.

The initiative will introduce “sweeping rules” for the sector. These modifications also include restrictions on advertising products, rules on how to cope with the collapse of enterprises, and limits on foreign companies selling into the UK.

According to the report, Ministers will soon begin a consultation on the new regulatory framework. This decision follows Prime Minister Rishi Sunak’s declaration that the cryptocurrency industry requires “effective regulation.”

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Why Did Safemoon Rise 92% Displaying Extreme Weekend Volatility

Howdy — Tue, 06 Dec 2022 01:40:23 +0000

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Cetoex News – Safemoon (SFM) dramatically spiked 92% on Saturday and attracted extreme weekend volatility. Its price was hovering around the $0.00035055 mark and jumped to $0.00044436 in a few hours almost doubling in price. After a sudden spurt of 92%, Safemoon’s price plummeted 40% on Sunday falling to $0.00037773 levels again. SFM’s price is down nearly 8% on Monday and the DeFi token seems to be shedding its gains this week.

Why Did Safemoon (SFM) Suddenly Rise 92%?

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A Safemoon investor previously filed a lawsuit alleging the founders and devs of the token indulged in price manipulation and insider trading. The lawsuit claimed that the founders artificially inflated Safemoon’s price by giving false statements. The investor alleged that SFM founders were unlawfully selling the tokens by failing to register them as securities with the SEC. The plaintiff sued the founders in the Utah Federal Court in May this year.

However, the plaintiff seems to have withdrawn and dropped the lawsuit against Safemoon on Friday last week, Bloomberg reported. The news of the lawsuit being dropped made its way into social media bringing in confidence among the investor community.

Therefore, Safemoon shot up in price on Saturday, just a day after the lawsuit against it was dropped on Friday.

In addition, the lawsuit withdrawal coincided with the Safemoon Orbital Shield Beta announcement that was made on Friday. Safemoon now describes itself as, “A human-focused technology and innovation business expanding blockchain technologies for a brighter tomorrow”.

At press time, Safemoon was trading at $0.00038025 and is down 8% in the 24 hours day trade. SFM is also down 88.8% from its all-time high of $0.00338272, which it reached in January 2022

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