Etherisc DIP Token
|All Time High:|
|Market Cap: |
|The price of #DIP today is $0.00886 USD.|
The lowest DIP price for this period was $0, the highest was $0.00886, and the exact current price of one DIP crypto coin is $0.00886428.
The all-time high DIP coin price was $0.49.
Use our custom price calculator to see the hypothetical price of DIP with market cap of BTC or other crypto coins.
|The code for Etherisc DIP Token crypto currency is #DIP. |
Etherisc DIP Token is 2.1 years old.
|The current market capitalization for Etherisc DIP Token is $2,198,704.|
Etherisc DIP Token is ranking upwards to #1256 out of all coins, by market cap (and other factors).
|There is a modest daily trading volume on #DIP.|
Today's 24-hour trading volume across all exchanges for Etherisc DIP Token is $14,312.
|The circulating supply of DIP is 248,040,816 coins, which is 25% of the total coin supply.|
|DIP has limited pairings with other cryptocurrencies, but has at least 2 pairings and is listed on at least 1 crypto exchange.|
View #DIP trading pairs and crypto exchanges that currently support #DIP purchase.
|Note that there are multiple coins that share the code #DIP, and you can view them on our DIP disambiguation page.|
More Etherisc DIP Token (#DIP) News
|Devere CEO Explains Why He Is Buying the Bitcoin Dip
The CEO of Devere Group, a financial advisory and asset management firm, has shared multiple reasons why he is buying the bitcoin dip. 'Despite the recent turbulence, I believe that the trajectory of bitcoin and other major cryptos is upwards,' he said.Nigel Green Explains Why He Is Buying More Bitcoin
The CEO of financial advisory and asset management firm Devere Group, Nigel Green, has confirmed that he is buying the bitcoin dip. In a blog post published this week, the executive outlined various reasons why he is buying more bitcoin amid the crypto market sell-off.
'The continuing strength of the U.S. dollar, which is down to policy tightening by the Federal Reserve, is being felt by bitcoin and all other risk assets, as we have seen in the recent drop in global stock markets,' he began, adding:
But like many serious crypto investors, I'm buying the dip. I'm embracing this short-term volatility for longer-term gains.
Green proceeded to share why he is buying more BTC. 'One reason is that I'm 'whale watching,'' he revealed, noting that 'Whales are investors who are giant crypto holders, holding enough assets to have the potential to move currency valuations.'
He continued: 'In recent weeks, whales have been selling which has the effect of bringing down the market price as others get spooked and panic-sell. This then allows the big players to buy back more, and cheaper, down the track.'
The Devere CEO opined:
I sense that they are preparing to make their moves to buy and top-...
|On-Chain Data Shows Bitcoin Whale Dumping Behind Dip Below $19k
On-chain data shows the Bitcoin exchange whale ratio spiked up just before the crypto's plunge below the $19k level.
Bitcoin Exchange Whale Ratio Breached 90% Right Before The Price Dip
As pointed out by an analyst in a CryptoQuant post, the whale activity on exchanges has been raised recently.
The 'exchange whale ratio' is an indicator that measures the ratio between the top ten inflow transactions to exchanges and the total exchange inflows.
The ten biggest transfers are assumed to be from the whales, so that the metric tells us what part of the total number of coins moving into exchanges is coming from these humungous holders.
When the value of this indicator is high, it means a large part of the inflows is coming from whales right now. Such a trend can be a sign of dumping from this cohort and can therefore be bearish for the price.
On the other hand, low values of the ratio can suggest whales are making up a healthy part of the transactions to exchanges at the moment. This kind of trend can either be bullish or neutral for the crypto's value.
Historically, the metric has usually had values above 0.85 during bear markets or fake bulls, while it has generally remained below this threshold during bull runs.
Now, here is a chart that shows the trend in the Bitcoin exchange whale ratio over the last couple of months:
The value of the metric seems to have been elevated recently | Source: CryptoQuant
As you can see in the above graph, the Bitcoin exchange whale ratio surged up...
|Largest Southeast Asian Bank DBS Sees Crypto Trading Volumes Soar as Inv...
DBS, the largest bank in Southeast Asia, says that it has benefited from the recent crypto market sell-off. The trading volume of its crypto exchange nearly doubled in July, compared to April. The quantity of bitcoin bought on its exchange grew nearly four times during that time period.DBS Crypto Customers Bought the Dip
DBS, the largest bank in Southeast Asia by assets, announced Monday that DBS Digital Exchange (Ddex) has benefited as crypto investors sought safety amid market volatility. DBS, headquartered and listed in Singapore, has a presence in 18 markets.
'With the digital asset industry experiencing unprecedented volatility … DBS' digital asset ecosystem has been a beneficiary of this flight to safety,' the bank detailed, elaborating:
Investors who believe in the long-term prospects of digital assets are gravitating towards trusted and regulated platforms to access the digital asset market.
As investors bought the dip, the total number of trades executed on Ddex in June was more than double that of April, DBS stated, adding that 'Buys accounted for over 90% of trades on Ddex in June 2022.'
The largest bank in Southeast Asia continued:
The quantity of BTC bought on Ddex in June 2022 was nearly four times that of April 2022. Similarly, the quantity of ETH bought on Ddex in June 2022 was 65% higher than that of April 2022.
In addition, DBS revealed that customers are storing more digital assets using its institutional-grade custody solution.
The number of bitcoin...
|Binance CEO's Warning About Wazirx Wallets, Nigerian EFCC on Naira Depre...
Another week has passed and developments in the Binance-Wazirx controversy continue, Nigeria's Economic and Financial Crimes Commission (EFCC) claims it has identified individuals fueling the naira's depreciation, Shark Tank star Kevin O'Leary says crypto 'desperately needs policy,' and the government of Nepal is preparing to issue its own digital currency. The weekend is here, and it's time for the Bitcoin.com News Week in Review.
Binance CEO Warns 'We Could Disable Wazirx Wallets' - Advises Investors to Transfer Funds to Binance
Binance CEO Changpeng Zhao (CZ) has warned that his company could 'disable Wazirx wallets on a tech level,' advising anyone with funds on the Indian crypto exchange to transfer them to Binance. The warning followed numerous tweets by CZ and Wazirx's founder regarding whether Binance acquired Wazirx.
Report: Nigerian Anti-Graft Body Identifies Individuals Fueling the Naira's Rapid Depreciation
Nigeria's Economic and Financial Crimes Commission (EFCC) recently claimed it had identified individuals and organizations whose rapid accumulation of U.S. dollars recently accelerated the depreciation of the local currency, a report said. According to Abdulrasheed Bawa, the EFCC chairman, his organization is currently going after foreign currency speculators in Kano, Lagos, Port Harcourt, Enugu, and Calabar.
Shark Tank Star Kevin O'Leary Buys the Bitcoin Dip - Says Crypto 'Desperately Needs Policy'
Shark Tank star Kevin O'Leary, aka Mr...
|Veteran Investor Mark Mobius Expects Bitcoin to Fall Further — Cau...
Veteran investor Mark Mobius, the founder of Mobius Capital, has cautioned cryptocurrency traders against using the 'buy the dip strategy.' He expects the price of bitcoin to plunge further with some temporary relief happening at $20K.Mark Mobius' Warning and His Bitcoin Price Prediction
The founder of Mobius Capital Partners, Mark Mobius, warned crypto traders about buying the dip in an interview with Financial News Friday. He also shared his price prediction and future outlook for bitcoin.
Prior to starting his own company, Mobius was executive chairman of Templeton Emerging Markets Group. He joined Templeton in 1987 where he managed more than $50 billion in emerging markets portfolios.
While acknowledging that some crypto traders have previously been successful using the 'buy the dip strategy,' he stressed that it is not a strategy that would pay off while the market still has some way to fall. Commenting on buying the bitcoin dip specifically, the 85-year-old founder of Mobius Capital told the publication:
It will not work this time until bitcoin hits $20,000, from where there might be a bounce but then the next target will be $10,000.
Some people have expressed similar warnings on social media, especially after the collapse of terrausd (UST) and terra (LUNA). UST lost its peg against the U.S. dollar and is currently trading at $0.11 while LUNA is near worthless.
'Terra Luna provides a perfect example of why you shouldn't always 'buy the dip,'' Gold bug Peter Schiff tweet...
|Whales Accumulate Through The Dip As Bitcoin Repositions To $40K
Volatility remains one of the characteristics of Bitcoin that could easily change the holding stance of investors. To some, a downward movement will mark their period of massive accumulation and expansion of their holdings. On the other hand, some will suffer considerable losses through a dip.
Bitcoin has been on a dipping move as it gets to its monthly low of $39,000 within some days of hitting the $40,000 mark. Though many people had expected that the BTC price would show some bearish trend for a few days, the events have proved the contrary.
Bitcoin has gradually taken a downward tour by going into a 37K – 40K region. This move has long begun in March 2022. Also, Woo advised investors to keep their holdings or purchase more of the dips if possible.
The price of BTC has surged sharply | Source: BTCUSD on TradingView
In the past, where there have been cases of spiked outflow volume, a notable amount of BTC has gone out via exchanges. However, a sudden reversal in the market's sell-off came as the crypto price climbed up.
Recent events have followed a similar pattern as Bitcoin regained all its losses by moving to the $41K region.
Moreover, Woo explained that Bitcoin has gotten below the 200 MA support from the 2020 fourth quarter. Besides Bitcoin, Ethereum has indicated significant drops by moving below its $3K level. Also, other prominent altcoins are not left out in the southward movement of price.
Fortunately, the entire crypto marketplace seems to be getting highe...
|Whales Bought the Dip as Bitcoin Reclaims $40K: Analyst
As bitcoin dropped to a monthly low at $39,000 after a few days of consolidating above the $40,000 mark, there was a growing bearish sentiment regarding its immediate price action. When the bears came out to push bitcoin south, dipping into the 37K - 40K area, some considered it an excellent opportunity to accumulate.
High Volume of BTC Spot Exchange Outflow
Minkyu Woo, a technical analyst on CryptoQuant, claimed that as the BTC sell-off went on, a noticeable volume was seen out of spot exchanges recently. Whales may have bought out a large sum of BTC, Woo implied, because this size of outflow can only be made possible via 'checking Top 10 BTC outflow for spot exchanges.'
Woo saw the price range of BTC between 37K ~ 40K as a critical accumulation phase which has been ongoing since Mar 2022 and urged investors to hold or buy the dips if they could. Previously, in the wake of scenarios where the outflow volume spiked, as a considerable quantity of bitcoin was being removed from exchanges, upward price action soon reversed the market's short-term bearish sentiment.
Something similar transpired now as well since BTC recovered all losses and even challenged $41,000.
In addition, Woo stated that as long as bitcoin has traded beneath the 200 MA support line since Q4 of 2020, a sufficient amount of 'smart money' would start accumulating the largest cryptocurrency by market cap. As Woo's chart indicates, BTC dipped into the 'bottom zone,' and buying interest has also spiked accordingl...
|On-Chain Data: Bitcoin Whales Buy The Dip As BTC Drops To $39k
On-chain data shows a sharp spike in the Bitcoin exchange outflows, suggesting whales have been buying the dip to $39k.
Bitcoin Exchange Outflows Show High Value Suggesting Whale Activity
As pointed out by an analyst in a CryptoQuant post, the BTC exchange outflows have registered a large spike recently.
The 'exchange outflows' is an indicator that measures the total amount of Bitcoin currently exiting wallets of all exchanges.
When the value of this indicator is high, it means investors are withdrawing a large amount of coins at the moment. Especially large values can imply whales have been buying.
Such a trend, when sustained, may be bullish for the price of the coin as investors usually transfer their crypto out of exchanges for accumulation purposes.
On the other hand, low outflow values suggest there isn't much buying going in the market right now. Over the past month, the crypto has shed 4% in value.
The below chart shows the trend in the price of the coin over the last five days.
Looks like the value of the crypto has plunged down over the past twenty-four hours | Source: BTCUSD on TradingView
After holding above the $39k level for more than a month, Bitcoin finally dropped below the mark in the past day. This is a continuation of the decline that started late last month after BTC topped out above $47k.
Currently, it's unclear when the price may observe some recovery.
|Bitcoin Traders Long The $39K Dip, Will BTC Head In Expected Direction?
Rejected once again as it attempted to reclaim the $40,000 area, Bitcoin trades just north of $39,000. Whenever it approaches, traders turn to high fear of high greed levels.
At the time of writing, Bitcoin trades at $39,300 with a 3% and 7% loss in the last 24 hours and 7 days, respectively.
BTC moving sideways on the 4-hour chart. Source: BTCUSD Tradingview
Data from analyst Ali Martinez suggest traders are yet to enter the fear territory as BTC’s price still holds its current levels. A majority of operators seem to be optimistic.
As seen below, the long to short ratio on crypto exchange Binance stands at 2.88, meaning traders are dominantly long. Around 74% of the traders on this platform took long positions as opposed to 25%.
Source: Ali Martinez via Twitter
In that sense, Martinez advised traders to stay cautious as Bitcoin rarely does what the majority expects. While the price of the first crypto seems to be recovering in short timeframes, bulls are yet to display conviction.
The analyst added the following on potential support levels for BTC’s price in case of more downside:
Bitcoin last line of defense is the 78.6% Fibonacci retracement level at $38,530. Breaching this support level could see $BTC fall to $32,853 or even $26,820.
Data from Material Indicators (MI) supports these potential levels. As seen below, the price of Bitcoin bounced off a stack of bid orders (in yellow below the price) set at around $39,000.
The benchmark crypto then proceeded to ...
|Bitcoin Collapses 7% As FED Gets Hawkish, Why This Could Be A Buy The Di...
Bitcoin records a 7% drop in the last week as yesterday’s Federal Open Market Committee (FOMC) hints at a more aggressive U.S. Federal Reserve. Source: BTCUSD Tradingview
Investment firm Cumberland believes the FOMC minutes were directly responsible for the BTC’s bearish price action. Part of a “broader risk-off move”, the announcement affected several sectors across the macro markets.
Bitcoin’s recent weeks relief rally was triggered by the FED as well. Investors were expecting an increase in interest rates at around 25 bps. The financial institution announced this increase back in March meeting expectations.
This provided more clarity to market participants. However, the FED turned more aggressive on its approach as a result of a persistent inflation.
In that sense, the financial institution has forced market participants to adjust their views potentially shaking speculators from their positions. Cumberland said:
At this point, one has to wonder whether the Brainard/FOMC commentary which triggered this move represents new & meaningful information that should be factored into the market in the form of lower prices, or if instead this selloff is really just a classic case of weak hands rushing for the exits in a crowded trade.
The investment firm believes the second option is more likely. Therefore, they claimed the current downside price action could offer long-term traders with a buy the dip opportunity.
At these levels, as Bitcoin moves in a t...
|Top Bitcoin Whales Bought the Dip, Adding Over 6,000 BTC in a Day
It appears that the largest Bitcoin wallets are buying the dip during the current market pullback, adding upwards of 6,000 BTC in a day.
Analysts from CryptoQuant suggest that the largest Bitcoin wallets have been adding aggressively during the recent market downturn.
Per a recent post from Yu Shiuan Chen,
Retail investors and small whales sell BTC, but top 69 large whales buy the dip. We can see a slight increase in BTC exchange reserves during the last 7 days, but Top 69 large whales buy the dip, even today they bought more than 6,000 BTC (Net).
Analysts from the firm also concluded that 'as a whole, most of the holders continue to HODL and traders continue losing their coins.'
In a short period, any movement to the downside is just noise.
At the time of this writing, bitcoin's price is trading at around $43,400, down 4% for the day, while the majority of the market has largely followed suit.
Daily liquidations sit at $350 million, with the largest single order being a BTC perp on OKEx worth $4.38 million.
|BTC Price Analysis: Is BTC Ready to Rally Higher Following the Dip Below...
Bitcoin has failed to break above its 200-day moving average - a crucial level for the price and is currently consolidating below it. However, the cryptocurrency experienced a shakeout and dropped below the $45K mark on April 1st, and has recovered after. This move might be considered a necessary pullback for Bitcoin to justify its breakthrough from the $46K critical supply zone.
The Daily Chart:
Technical Analysis By Shayan
To keep the rally going, Bitcoin has to chart a higher high in the daily timeframe over $47K - at least in theory. This would confirm that the pullback was valid, and another surge could be in play. The next significant resistance level will be around $52K, while the next support level will be about $37K.
The 4-Hour Chart:
Bitcoin has been rejected from the upper trendline of the referenced channel in the lower timeframes and plummeted below the $45K level. However, the price has failed to create a lower low and has remained sustained, indicating a clear bullish sign.
Following the expansion phase that started from the $37K level and continued to $48K, Bitcoin's price seems likely to have entered a consolidation/range period between the $45K and the $48K resistance level.
If the $45K demand level is breached, the channel's midline and $37K will be the following levels of support. Also, If the price succeeds in breaking above the $48K resistance level, the following challenge to consider would be $52K.
|Ethereum “Diamond Hands” Filled Their Bigs Through The Dip
Ethereum holders have been filling up their bags while the broader market had panicked through the dip it seems. The digital asset which had suffered from crashes and dips that had hit the market had seen its value fall as low as $2,500. However, these ‘diamond hands’ holders had remained unfazed given that data showed that they continued to accumulate ETH tokens all through the market dip.
Ethereum Holders Load Up
Ethereum holders, especially those who have held for longer, are more likely to add coins to their holdings while the market is in a downtrend. This was the case during the last downtrend given that these holders had continuously added to their bags this time around. The whole lot came out to a total of about $12 billion that these holders had picked up.
In the report, it is noted that these were holders that had previously held their ETH tokens for more than a year. With each dip, these investors had accumulated more tokens, successfully pushing their collective holdings to a new yearly high. Although the amount held by these wallets has dropped in the past few days, they still hold the majority of the supply. A total of 59% of all ETH supply are held by wallets that have had their tokens for more than a year.
What Is Driving This? One of the most obvious reasons that have sparked renewed interest in Ethereum ownership has been the “Merge”. This important upgrade is expected to take place sometime this year and will completely change the wa...
|Market Watch: Despite Price Dip to Weekly Low, Bitcoin Consolidation Ran...
Bitcoin briefly slumped to a weekly low beneath $38,000 but reclaimed all lost ground and returned to a familiar level of around $39,000. The altcoins are slightly in the red today, with a few exceptions, such as Terra.
Bitcoin Saw a Weekly Low
In the middle of last week, bitcoin initiated a surprising leg up after Biden's executive order on cryptocurrency regulations and skyrocketed to nearly $43,000. However, this trip north was short-lived, and the bears came back to the scene.
In the following hours, BTC lost more than $3,000 and dropped to $39,000. Since then, the asset has remained relatively stuck around that line with only a few brief price pumps and dumps.
The latest example came hours ago when the primary cryptocurrency fell by $1,500 to its lowest price position since March 7 at $37,500. Nevertheless, it bounced off and now stands around $39,000 once again, after Tesla's CEO Elon Musk said he has no plans to dispose of his BTC, ETH, and DOGE positions.
As such, bitcoin's market capitalization has remained just under $750 billion.
BTCUSD. Source: TradingView
Terra Jumps 8%
The altcoins have also been in a rather similar situation as BTC, with minor moves in the past 24 hours. Ethereum struggles below $2,600 after a brief drop towards $2,500 earlier today.
Ripple has lost the most value in the past day after being among the high flyers over and prior to the weekend. XRP is now down by 3.5% and sits below $0.8.
Binance Coin, Polkadot, Avalanche, Dogecoin, Shiba Inu, M...
|Russian Cryptocurrency Volumes Across Several Exchanges Dip By 50%
Regardless of the growing economic sanctions against Russia, the volume of cryptocurrencies bought using Rubles across several major cryptocurrency exchanges plummets drastically.
According to data from blockchain-data aggregators display, Russian collateralizing crypto trading across significant crypto exchanges is dropping badly. This debunks the idea that Russia will leverage crypto assets in maneuvering sanctions.
Last week, when the Bitcoin price surged more than 15%, some crypto pundits proposed that the rally was related to Russians purchasing crypto assets amid the growing economic sanctions.
Related Article | Veteran Trader Advises 'Gen Zs' To Set Aside Savings On Bitcoin And Hold
Moreover, this belief seems contradictory as Chainalysis displayed data, revealing ruble-denomination cryptocurrency trading. It plummeted to $34.1 million on Thursday, which is about a 50%-decline since its recent high of $70.7 million last week on February 24.
Citigroup Analyst Comments On The Cryptocurrency Situation
Commenting on the topic of sanctions-focused crypto buying to Bloomberg. Alexander Saunders-Citigroup analyst responded that the trading volumes have been comparatively small recently. However, he also proposed that this PA is higher because of traders and investors preparing for an anticipated increasing demand from Russia instead of the country demanding for itself.
Regardless of pundits' debunking, cryptocurrency could be essential to aid Russia in circumventing sanc...
|Cardano Whales Devour Dip, Why They Don't Care About Price Action
Despite the crypto market's bloodshed, in the past few days, the Cardano (ADA) trading activity has been relentless, and its holders' balance remains strong with a multi-year high.
Into The Block data indicates that the wallet balance held by long-term Cardano holders hit a multi-year high on February 23.
'Regardless of the price action, Cardano's holders remain strong. The balance held by HODLERS- addresses holding >1 year, is at a multi-year high. These HOLDERS increased their positions to 10.12b $ADA, the largest balance since December 11, 2019.'
Source: Into The Block
Despite the geopolitical tension causing the altcoin's price to drop dramatically, traders have increased their position of Cardano.
Holders have accumulated the highest balance of ADA since December 2019. Cardano's network recent developments might be serving as fuel to its supporters, and as a consequence, many believe its price will climb.
'Every bounce is still getting sold off, waiting for a final leg down before a reversal. Would consider buying this at 0.50,' an analyst noted.
A Finder's poll indicated several analysts believe the price of ADA will reach $58 by 2030, and a few thought it might close this year at $2.72, a 160% increase. Many traders received the $58 prediction as an exaggeration unless the Cardano ecosystem truly manages to explode during the following years.
Expert Vanessa Harris was also bullish on the altcoin. She expects it to close 2022 around the $3 mark, adding that its critici...
|Technical Analysis: ATOM Hits 1-Week High — AXS, LEO, THETA Dip Lo...
Despite Thursday's selloff in cryptocurrencies, cosmos managed to hit its highest level in the last week. The rally came as one of yesterday's big gainers, THETA, slipped in today's session.
Cosmos (ATOM) moved higher in today's session, despite the global cryptocurrency market cap falling by over 3% as of writing.
ATOM/USD rose to a peak of $30.79 earlier today, following its climb from yesterday's low of $27.97.
This recent surge in the price of ATOM, comes after a Valentine's day bounce of its support level at $25.90.
Since being hit by cupid's arrow, ATOM/USD has had four consecutive sessions of higher highs, leading to Thursday's run.
Today's move also saw ATOM break out of its resistance level at $29.20, however as the day progressed, profit-takers liquidated positions, leading to the 1D candlestick fading.
This false breakout has also seen the 14-day RSI held at resistance of 47, a level which it has been unable to climb over in the last 10-days.
Should price strength be lessening, we may soon see some consolidation in the price of cosmos.
Although SAND, AXS, and LEO were all deep into the red on Thursday, it was THETA that fell by the most in the top 100.
Coming off the back of a $3.98 high yesterday, THETA fell to a low of $3.60 during today's session, nearing a 10% loss in the process.
Thursday's selloff began after prices approached the resistance of $4.00, and now look set to fall to support at $3.48.
Price strength also fa...
|US Senator Ted Cruz Bought the Bitcoin Dip, Discloses BTC Purchase Worth...
U.S. Senator Ted Cruz has declared his bitcoin purchase worth up to $50,000. 'I'm also particularly proud that my home state, Texas, is becoming an oasis for the blockchain community, for bitcoin miners, for innovators and entrepreneurs in the crypto world,' said the senator.
Senator Ted Cruz Declares Bitcoin Purchase
U.S. Senator Ted Cruz has bought the bitcoin dip. A Periodic Transaction Report filed on Friday shows that the senator from Texas personally bought bitcoin worth between $15,001 and $50,000 on Jan 25.
On the date of the transaction, the price of bitcoin was hovering around $37,000 based on data from Bitcoin.com Markets.
At the time of writing, the price of bitcoin is $41,708. BTC is up 10.5% over the past seven days but down 4.2% over the last 30 days.
The senator from Texas has long been a vocal bitcoin proponent. In June last year, he said that people are flocking to BTC because the U.S. is on the verge of an inflation crisis.
In November last year, he introduced a resolution for cryptocurrency to be accepted at 'restaurants, vending machines, and gift shops in the Capitol Complex.'
Senator Cruz also said: 'Cryptocurrency and bitcoin mining provide enormous opportunities. They are creating a vast amount of wealth. They are creating a hedge for people against inflation, inflation is a growing concern across the country. They are creating entrepreneurs in all 50 states.'
He added: 'I'm also particularly proud that my home state, Texas, is becoming an oasis for...
|El Salvador Buys 410 More Bitcoins In Recent Dip
El Salvador President Nayib Bukele announced that the Central American country purchased 410 more Bitcoins in a recent market dip. The announcement came days after his administration revealed its intentions to invest significant funds into cryptocurrency mining operations.
Amid market drop, El Salvador purchases 410 more bitcoins. President Bukele says the nation now has over 1,800 BTC and plans to issue a $1 billion 10-year bitcoin bond this year.
El Salvador is the first country to adopt bitcoin as legal tender, and we have seen great results so far. The country’s central bank reported that it had bought at least 1,391 Bitcoin before the Friday dip.
Bitcoin price recovered about 3% on Jan 24, 2022 | Source: BTCUSD on Tradingview.com
El Salvador has a new plan to make it the crypto-mining capital of Central America. With plans for an entire city focused on cryptocurrencies and tax breaks available only if you're born there or invest money into blockchain projects, this country is quickly becoming one worth keeping your eye upon.
Salvadoran President Bukele believes that if bitcoin becomes an integral part of their country's economy, it would be curtains for FIAT.
Bukele’s Tweets On Buying 410 Bitcoins
Bukele’s first tweet was on Jan 14, 2022, 'I think I might have missed the dip this time.'
In reply to that tweet, Bukele added, “Nope, I was wrong, didn't miss it.” He also added, 'El Salvador just bought 410 #bitcoin for only 15 million dollars....
|Veteran Trader Peter Brandt Shares ‘Sacred Trading Rule’ as Bitcoin ...
Veteran trader Peter Brandt has shared 'a sacred trading rule' he uses in response to a comment about buying bitcoin as the price of the cryptocurrency continues to fall. 'Never add to a losing trade,' he affirmed.
Peter Brandt Offers Trading Advice
Veteran trader Peter Brandt has a trading suggestion for anyone considering buying the dip. Brandt has been a futures and FX career trader since 1975. He is a chartist and the author of the Factor Report. He trades a variety of markets, including Dow futures, bonds, corn, crude oil, European wheat, Osaka Dow, U.S. dollar, and sugar.
Replying to a comment on Twitter stating that there may be additional opportunities for long-term hodlers to buy even cheaper bitcoin in the coming months, Brandt wrote:
A sacred trading rule I have used is never add to a losing trade.
He explained in a tweet that people were saying the same thing about silver futures in 1980 after it topped $50. 'lt then sank to a low of $3.65 and did not start back up for 24 years,' he stressed. The trader clarified, however, that he is not predicting that bitcoin will follow the same path.
The price of bitcoin has fallen significantly this week, losing over 10% in the past seven days. At the time of writing, the price is $41,657.45 based on data from Bitcoin.com Markets.
Brandt commented on bitcoin's violation of the parabolic advance on the Bitcoin Live discussion Thursday.
However, he tweeted Friday: 'I saw the violation of the parabolic advance and commented o...
|NYC Mayor Undeterred by Falling Bitcoin Price, Says Buying the Dip Could...
The mayor of New York City, Eric Adams, is not deterred by bitcoin's volatility, noting that buying the dip could yield 'a good profit.' He reiterated that he will receive his first three paychecks in bitcoin and will make New York City the center of blockchain technology.
New York Mayor Hints at Buying the Dip
The mayor of New York City, Eric Adams, is undeterred by the falling price of bitcoin. A former New York City police captain and Brooklyn borough president, Adams took office on Jan. 1 as the 110th mayor of New York City.
He was asked on CNBC Thursday whether he has been paid in bitcoin since he said last year that he will take his first three paychecks in BTC.
Commenting on the price of bitcoin this week and how it would have affected his paychecks if he had been paid in the cryptocurrency, the new mayor of New York City laughed and said:
Sometimes the best time to buy is when things go down, so when they go back up, you've made a good profit.
'Yes, I'm going to take my first three paychecks in bitcoin,' Adams confirmed, but noted, 'I haven't received my first check yet.'
He reiterated his crypto plans: 'I think we need to use the technology of blockchain, Bitcoin, [and] all other forms of technology. I want New York City to be the center of that technology so I'm looking forward to that first paycheck in bitcoin.'
At the time of writing, the price of BTC has fallen more than 13% within the past seven days. It is currently $41,364 based on data from Bitcoin.com Market...
|Despite the Crypto Market Dip, Weekly Gains Show OSMO, ATOM, FTM, and a ...
On January 5, digital currency markets shed a great deal of value as bitcoin dropped below the $44K handle during the late afternoon (EST) trading sessions on Wednesday. Nearly every coin has shed 24-hour value, but a slew of crypto assets have seen double-digit gains and have managed to stave off the crypto economy downturn.
This Week's Double-Digit Crypto Gainers
At the time of writing, the crypto economy is down more than 7% to a low of $2.16 trillion on Thursday, January 6, 2022. The price of bitcoin (BTC) has lost 7% this week as well as it dropped below the $44K zone from the $46K region where it sat 24 hours prior. BTC's current 24-hour range is between $46,901 per unit and a low of $42,466 per unit.
Other top crypto assets have shed significant value as well as ethereum (ETH) is down more than 10%, binance coin (BNB) has lost over 8%, and solana (SOL) has dipped more than 11% in USD value. Weekly metrics were recorded on January 6, 2022, at 9:45 a.m. (EST).
Despite the major drawdown across most of the 12,000 crypto assets in existence, a number of digital coins have seen double-digit seven-day gains against the U.S. dollar. For instance, osmosis (OSMO) is up 41.3% this week, and cosmos (ATOM) has jumped 34.9%. Those two tokens are followed by fantom (FTM) (+32.5%), ravencoin (RVN) (+27.7%), and internet computer (ICP) (+25.9%).
MIOTA, SPELL, SUSHI, KDA See Double-Digit Losses This Week
Harmony (ONE) jumped 25.7% this past week, chainlink (LINK) is up 23.5%, and yea...