Hot Digital Currency News

The latest news in the world of digital currency

Hot Digital Currency News

The latest news in the world of digital currency

XRP Forming Potentially Constructive Long-Term Pattern: Savvy Trader Peter Brandt

Veteran commodity trader Peter L. Brandt has taken to Twitter to congratulate those who have invested in altcoins at an early stage and made large profits by now, thus admitting that he is "a dinosaur in a new game."

Below that tweet, as if to underscore his statement about altcoins, he shared a screenshot of an XRP chart that shows a "potentially constructive" pattern for this coin.

XRP forms an Inverse Head and Shoulders

The seasoned trader has posted a chart that shows that the sixth-largest cryptocurrency, XRP, is forming an Inverse Head and Shoulders pattern. Potentially, Head and Shoulders (either a regular or inverse one) is followed by an asset reverse when it starts moving in the opposite direction.

In this particular case, Brandt says that, in the long term, XRP is potentially headed North.

In the root tweet, the trader apologized to all early altcoin investors he has ever shown disrespect to. He sent congratulations to them on a "job really well done" and calling them the best representatives of a new generation of market speculators.

The screenshot of the aforementioned XRP chart came as a response to a suggestion that Peter should jump on the XRP train.

Related
LTC Demonstrates “Popcorn Rally”, Legendary Trader Peter Brandt Says

Peter Brandt's mixed feelings about XRP

Previously, Brandt has demonstrated disdain multiple times for the Ripple-affiliated currency and urged the SEC to proclaim it a security long before the regulatory agency initiated its lawsuit against Ripple over the same issue in late December 2020.

This year, however, the veteran commodity trader has several times posted bullish tweets on XRP.

Bitcoin Price Action Might Turn “Scary” After Recent Slump, Analyst Warns

Bitcoin Price Action Might Turn “Scary” After Recent Slump, Analyst Warns

Bitcoin could be poised for a painful correction if it doesn’t reclaim the $40,000 level, according to Matt Maley of Miller Tabak + Co.

The analyst told Bloomberg that things could turn ugly in no time if buyers do not show up to save the day:

If, however, it sees much more downside follow-through, things are going to get scary pretty quickly.

Bitcoin started testing the top of its long-lasting range last week, peaking at $42,607.

Prior to that, the top cryptocurrency managed to score 10 days in the green, its longest bullish streak in eight years.

However, the recovery came to a halt after bulls failed to break out of the range. The top cryptocurrency has now retreated to $37,754, dropping more than 10 percent from the local peak.

BTC
Image by tradingview.com

Related
SEC vs. Ripple: Judge Allows Brad Garlinghouse to Seek Docs from Binance
After plunging to as low as $30,000 in May, Bitcoin rallied above $40,000 in mid-June, but its recovery ended up being short-lived. Instead of breaking out of the range, the top coin ended up tanking to $28,616, its local low. 

Such price action clearly shows how quickly things can go south when bears gain the upper hand.

The largest coin remains under pressure after U.S. Securities and Exchange Commission Chair Gary Gensler said that he wanted to tighten cryptocurrency regulation.
Source: u.today

The Bitcoin ETF fund will not be launched until 2022

New York-based Wilshere Phoenix Financial Services co-founder William Kai recently predicted that the Bitcoin ETF fund would not be approved in the United States until 2022.

He still believes that such a fund will eventually be given the green light by the US Securities and Exchange Commission.

He added:
We believe that the Bitcoin ETF fund will eventually be launched in the United States, but this is unlikely to happen this year or next.

In June 2019, Wilshere Phoenix, in partnership with NYSE Arca, filed a lawsuit to open a Bitcoin ETF fund, and the lawsuit was filed in February 2020 amid concerns about market manipulation by the US Securities and Exchange Commission. United rejected.

The company criticized the decision of the US Securities and Exchange Commission at the time, declaring that the rejection of their application would be a great loss to the public.


William Kai believes that bitcoin will resume its uptrend, but believes that bitcoin's dominance will decrease and therefore can not be compared to gold.

Read more: The Ripple case and the US Stock Exchange sparked
While the Bitcoin ETF fund has already been launched in Canada, Europe and Latin America, US officials have not yet accepted any of the requests.

Currently, 12 companies have submitted their applications for the Bitcoin ETF Fund to the US Securities and Exchange Commission.

Experts believe that with the launch of such a fund in the United States, bitcoin will rise sharply in price and it remains to be seen what will happen in the future.
Source: zoomarz

The Bitcoin ETF fund will not be launched until 2022

New York-based Wilshere Phoenix Financial Services co-founder William Kai recently predicted that the Bitcoin ETF fund would not be approved in the United States until 2022.

He still believes that such a fund will eventually be given the green light by the US Securities and Exchange Commission.

He added:
We believe that the Bitcoin ETF fund will eventually be launched in the United States, but this is unlikely to happen this year or next.

In June 2019, Wilshere Phoenix, in partnership with NYSE Arca, filed a lawsuit to open a Bitcoin ETF fund, and the lawsuit was filed in February 2020 amid concerns about market manipulation by the US Securities and Exchange Commission. United rejected.

The company criticized the decision of the US Securities and Exchange Commission at the time, declaring that the rejection of their application would be a great loss to the public.


William Kai believes that bitcoin will resume its uptrend, but believes that bitcoin's dominance will decrease and therefore can not be compared to gold.

Read more: The Ripple case and the US Stock Exchange sparked
While the Bitcoin ETF fund has already been launched in Canada, Europe and Latin America, US officials have not yet accepted any of the requests.

Currently, 12 companies have submitted their applications for the Bitcoin ETF Fund to the US Securities and Exchange Commission.

Experts believe that with the launch of such a fund in the United States, bitcoin will rise sharply in price and it remains to be seen what will happen in the future.
Source: zoomarz

Decentralized Thaler DeGeThal (DTM) Introduces One-Stop Solution for Smart Banking

Crypto-fiat ecosystem with wallet and exchange: Introducing DeGeThal

Introduced in 2021 by a cohort of IT veterans, including former ConsenSys officers, the DeGeThal (DTM) project is tasked with creating a “one-stop” ecosystem for various use cases unexplored by traditional financial instruments.

Since its very first days, DeGeThal has targeted ambitious milestones. Namely, its final aim is creating a cryptocurrency project accessible to anyone in the world. The DeGeThal team is certain that digital assets can fuel a parallel economic environment and address global challenges:

We strongly believe in the future development of the crypto markets as a viable alternative to the traditional financial system regardless of economical, epidemiological or political factors.

A multi-currency wallet designed for transparent and lightning-fast transactions is a building block of the DeGeThal ecosystem. Eventually, it will evolve into a full-fledged economic instrument for daily usage for payments (including microtransactions), salaries, bank operations and so on. Besides bringing reliable operations for existing cryptocurrency users, DeGeThal will introduce crypto to newbies.

This wallet by DeGeThal will also include a module for seamless interaction between crypto-based and fiat-based financial systems. Thus, the DeGeThal wallet will serve as a reliable regulatory-compliant fiat paygate for new users of cryptocurrencies.

DeGeThal wallet will be powered by cutting-edge security instruments. Its team ensures that the transparency and finality of transactions will be guaranteed by industry-grade mechanisms compared to those utilized by flagship banks.

In late June 2021, DeGeThal smart contract design was audited by one of the most recognized cybersecurity vendors, EtherAuthority. As per the audit report, EtherAuthority approved all smart contracts features as true and valid.

In 2022-2023, the DeGeThal (DTM) project is going to introduce NFT-focused features and initiate the listing of its token on top-league exchanges, including Binance (BNB). Card payment integration with Visa and Mastercard will go live in 2024 to advance the crypto/fiat experience of all DeGeThal users.

DTM Token: Digital Thaler for DeFi era

DeGeThal token, or “Decentralized Thaler” (DTM), is a backbone element of DeGeThal tokenomics and is seamlessly integrated into all modules of DeGeThal. The token is minted on Binance Smart Chain (BSC), a smart contracts environment by world-leading exchange Binance (BNB) and the fastest-growing programmatic blockchain.

Right now, DeGeThal (DTM) token is available for purchase within the bounds of private sale procedures. DTM private sale can be joined via top-tier mainstream wallets like MetaMask, TrustWallet (TWT) and so on. Private Sale will be closed on July 15, 2021. All participants in the DTM private sale will enjoy five percent bonuses.

Within pre-sale Stage 1 (until Aug. 15, 2021), the price of DTM will be set at 0.2 USDT. Within pre-sale Stage 2 (until Sept. 15, 2021), DTM will be worth 0.25 USDT.

The last stage of pre-sale (Stage 3) will take place between Sept. 15 and Oct. 15, 2021, with 0.3 USDT per DTM rate.

The maximum liquid supply of DTM token is capped at 100,000,000. Only 50,000,000 are available for sale during the private sale, pre-sale and public sale phases.

Twenty percent of tokens will be allocated to the future development of the project while Team, Rewards, and Marketing allocations will be set at 10 percent each.

DTM will act as a utility token within the DeGeThal ecosystem: all DTM holders will exchange crypto with reduced fees. In future stages of the project’s development, the staking module will be unveiled. All DTM holders will be invited to advance the security of DeGeThal operations with their stakes.

Source: u.today