Pakistan Crypto Council suggests utilizing surplus energy for Bitcoin mining a sustainable approach to crypto production

Pakistan’s Crypto Council is suggesting a novel solution to address the issue of excess energy in the country by proposing the use of Bitcoin (BTC) mining. In a groundbreaking move, the council aims to capitalize on Pakistan’s abundant natural resources to power the cryptocurrency mining operations. By harnessing excess energy from various sources such as [...]

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Biopharma Executive Suggests Bitcoin as Lifeline for Industry During Biotech Downturn

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Increasing Bitcoin Activity Suggests Market Bottom and Possible Reversal

Bitcoin has reached a critical juncture as the number of active addresses on the network has dropped significantly. This decline may signal a potential turning point for the market. The latest data shows a sharp decrease in the number of unique addresses interacting with the Bitcoin blockchain. This decline is significant as active addresses are [...]

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DOGE Suggests Cutting IRS Staff by 20% A Bold Move for Tax Reform

The popular cryptocurrency Dogecoin has caught the attention of many investors, with its value skyrocketing in recent months. However, amidst this surge, the Internal Revenue Service (IRS) has decided to crack down on Dogecoin holders. The IRS announced that it will be slashing its staff by 20% in order to focus on enforcing tax regulations [...]

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Bitcoin price: here’s what a closely watched technical indicator suggests

Bitcoin (BTC/USD) remains perched above $21,000 on Monday morning, having scrapped through the weekend without breaching the psychological $20,000 mark.

However, having touched lows of $20,700 over the weekend, and intraday lows of $20,900 so far today, the benchmark crypto could yet see new losses. Bitcoin’s 24-hour performance is -1.3%, while over the week, it has lost more than 12%.

The risk-off sentiment across risk markets continues following last week’s negative closes for equities and crypto, with fresh fears over the US Federal Reserve’s likely push for another 0.75% rate hike.

A look at the daily chart shows the moving average convergence divergence (MACD) has flipped negative. 

The closely watched indicator, which technical analysts use to gauge potential momentum direction, has the short term outlook for BTC in the bearish zone. The MACD, as shown in the chart above, remains below the signal line, with the bearish crossover having seen sellers push Bitcoin from highs above $25,000 last week.

The 50-day moving average is also providing an immediate resistance after price broke below in a -10% return on 19 August.

The monthly Relative Strength Index (RSI) indicator is also suggesting possible downside for Bitcoin, in comparison to the metric’s outlook in previous bear markets.

“There are initial signs that the Monthly BTC RSI 2015 & 2018 Bear Market Bottoms area (green) is turning into new resistance. If this trend continues, this could spell further downside in Bitcoin’s price over time,” crypto analyst Rekt Capital noted in a tweet on Monday.

Pseudonymous crypto analyst Alt Crypto Gems also sees a possible flip below current support. Pointing to the 4-hour chart and the appearance of another bearish indicator, the analyst opines BTC/USD may fall to support levels near $16,000.

$BTC is looking like it has formed an Inverted Adam & Eve pattern and a bearish divergence (4H chart).

This means; if it breaks down towards the support at $20,700, which was a resistance previously, we might see the pattern play out, and thus drop down towards $16.2K. ?? pic.twitter.com/T7H05ec2n0

Bitcoin fell to lows of $17,600 in mid-June amid the bear market turmoil, which makes current levels crucial. Notably, on-chain and technical analyst Cauê Oliveira noted last week that the levels of “maximum pressure” for Bitcoin could be around the $14.5k -$10k zone.

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Bullish Divergence on APE Chart Suggests 25% Spike to $7.89

Altcoin News A bullish technical indicator has flashed on the 4-hour chart for ApeCoin. On May 9, the price of ApeCoin (APE) dipped below $9.64, which was a long-standing support level for the coin. APE’s price posted lower lows and higher lows – a sign that APE may see a short-term spike. A bullish technical […]

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Elon Musk Suggests Making Dogecoin a Payment Option for Twitter Blue Service – Altcoins Bitcoin News

Tesla and Spacex CEO Elon Musk has suggested making the meme cryptocurrency dogecoin (DOGE) a payment option for the Twitter Blue subscription service. Musk is now Twitter’s biggest shareholder. He recently joined the social media giant’s board of directors and promised to bring “significant improvement” to Twitter. Elon Musk Suggests Allowing Payments in Dogecoin Elon […]

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Switzerland’s Largest Bank UBS Suggests Alternative Ways of Investing in Cryptocurrency – Markets and Prices Bitcoin News

Switzerland’s largest bank, UBS, has suggested some investment strategies for investors seeking to gain exposure to crypto assets with less risk than investing directly in bitcoin, ether, or other cryptocurrencies. “There are several main ways investors can access this potential while avoiding the high volatility and regulatory risks of holding bitcoin or rival cryptos,” the […]

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Russian Investors to Pass Exams Before Buying Cryptocurrencies, Draft Law Suggests – Regulation Bitcoin News

A new Russian law may oblige potential crypto investors to take a test before being allowed to purchase digital assets over a certain limit. The authors are also hoping to regulate cryptocurrency mining and cut access to cheap energy for those who mint coins in their homes. Bill to Bring ‘Tight Regulation’ to Crypto Industry, […]

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US Senator Suggests Trumps Latest Executive Order Could Lead to US Purchasing Bitcoin

The recent executive order signed by Donald Trump could potentially impact the cryptocurrency market, specifically focusing on Bitcoin in the United States. This action signals a shift in the traditional financial landscape, with the government potentially exploring the idea of purchasing Bitcoin. In the world of cryptocurrencies, Bitcoin stands out as the pioneer and most [...]

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Is XRP Price Heading to $18,000? One Cryptocurrency Group Suggests Its Within Reach

The XRP Price Could Reach $18K, According to Cryptocurrency Research Group A cryptocurrency research group has made a bold prediction that the price of XRP could soar to $18,000. This optimistic outlook has caught the attention of many investors and enthusiasts in the digital asset space. The research group, known for their accurate predictions in [...]

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Research suggests that Trumps tariffs could result in tax cuts and savings for Americans

In a surprising turn of events, the tariffs imposed by Donald Trump have actually resulted in cost savings for Americans similar to a tax cut. This unexpected consequence has left many people reevaluating their initial perceptions of the administration’s trade policies. Despite the turmoil caused by the trade wars initiated by President Trump, it seems [...]

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