Exploring the landscape of crypto regulations in sub-Saharan Africa By Cointelegraph

Exploring the landscape of crypto regulations in sub-Saharan Africa By Cointelegraph

Sub-Saharan Africa has no doubt suffered many regulatory setbacks in adopting cryptocurrencies. With most countries in the region struggling not to buckle under economic uncertainties and pressures looming over them even as the ripple effects of COVID-19 set in, it would appear that many Africans, especially millennials, aren’t waiting for the government anymore.

The main issue inhibiting regulation seems to be a combination of resistance and indecision both from regulators, which has majorly been a result of little or no understanding of cryptocurrencies.

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Source: otcpm24.com

Author: News Bureau

Learn How to Detect Forex Trends and Use Them to Your Advantage

Learn How to Detect Forex Trends and Use Them to Your Advantage

How to detect forex trends, the answer is simple. There are certain techniques you can use to learn how to detect for trends and use them to your advantage when trading. Traders on the foreign exchange markets are constantly watching and analyzing the movement of the market. They watch where the trends are going so they know what to trade.

The good news is that this knowledge is easily learned. When you learn how to detect forex trends you will gain a tremendous edge over your competitors. There are a few ways to learn how to do this, but it will be easier to learn when you have a program you can get started with right away.

Forex trading systems are a great way to learn forex trading and to learn how to detect for trends at the same time. There are a few types of forex trading systems available. Some are free, some are more costly, and some of them have a one year trial period so that you can get started with forex trading without a lot of cost.

I know that it might seem expensive to learn how to forex trend yourself, but if you want to get started and make a ton of money then you will need to learn this method. I know that you might be skeptical because you are worried about getting ripped off, but that’s what happens with all new systems out there. If you buy a system that does not come with a demo then you will most likely be losing money.

The best way to learn forex trading and how to detect forex trends is with a forex trading system. If you get started with the right program then you will find that you can learn forex trading quickly and easily. You will also be able to make money on the market and learn how to forex trends at the same time.

There are many different software programs available for forex trading. Some of them will let you trade for free and some will let you trade for just a small fee. I would recommend that you try out the free software first so that you can get a feel for how the software works before you spend money.

The best thing you can do when learning how to detect for trends and use them to your advantage is to use a software system that can teach you how to use signals correctly. You must use indicators in conjunction with indicators to properly analyze the market. It is a good idea to combine signals with other things you may have knowledge about so you will be more successful. I would suggest using forex trading systems that give you both forex signals and indicators so you can effectively analyze the market.

Forex trading is a fun and exciting way to make money. If you want to learn how to forex trend and get started then you need to buy a forex trading system or get a free demo forex software system. If you follow the instructions on how to forex trading, you will be able to take advantage of a great opportunity to earn a lot of money on the market.

Source: altredo.wordpress.com

Author: Author: altredo

Bitcoin Prepares For New 2020 Highs As Trading Nears $12,000

Bitcoin Prepares For New 2020 Highs As Trading Nears $12,000


BTC faces a near-term resistance at $12,000 which will decide the possible bullish break or another medium-term reversal zone. The bearish divergence between the rising prices and falling daily active addresses signals another exhaustion of the bullish momentum. The outcome of the latest US Stimulus talks could bring the heat to the bullish breakout or could dampen the momentum. Bitcoin increased by more than 3% since the weekly price opening as the pioneer cryptocurrency trades in the touching distance of the psychological $12,000 resistance level. The surge in Bitcoin came right after the Federal Reserve Head Jerome Powell discussed the possibility of rolling out a central bank digital currency and how the Libra project will reinforce the complexities of launching a national cryptocurrency.

With the latest fundamental outlook looking bullish, a break above the $12,000 could start another rally to the $13,000 level which means Bitcoin prepares for a new 2020 high. Traders should treat the move with a degree of caution as the lower time frame analysis showed that the bearish divergence developed on the MACD indicator as the cryptocurrency broke the $11,000 level earlier this month. Crypto traders use this trend as an indicator to reveal the rising or falling momentum of the asset’s trend so a crossover of the MACD and the signal line are sitting on the upside which indicates an incoming bullish trend with a crossover downside that signals a bearish trend.

The current four-hour price chart shows that the bears are getting smaller while the prices increase which confirms negative price divergence. The MACD signal line is showing negative price divergence and started dropping with the Bitcoin prices rising. If bitcoin starts a pullback from the current levels and trades below the weekly opening price, the risk of dropping to $10,000 increases. The data from the on-chain crypto sentiment platform Santiment shows that a clear-cut bearish divergence between the increasing prices and falling number of active addesses was forming in the past few days which signals a potential slowing of bitcoin’s buying activity. Santiment tweeted:

 “Bitcoin’s mild climb of around +3% this weekend was a bit of a surprise, considering the 730.5M daily active addresses transacting on the network Sunday was the lowest mark since June 28th. Our model points to a fairly clear-cut bearish divergence forming.”

Source: cryptomoneyteam.co

Author: By TeamMMG

Tone Vays Says Bitcoin Appears Ready for Big Breakout As Crypto Analysts Plot Ethereum and XRP Trajectories

Tone Vays Says Bitcoin Appears Ready for Big Breakout As Crypto Analysts Plot Ethereum and XRP Trajectories

Wall Street veteran and crypto strategist Tone Vays believes that Bitcoin is likely on the verge of a breakout as BTC flashes bullish signals on multiple timeframes.

Vays says BTC is poised to breach resistance at $12,000 and mark a historic milestone on the weekly chart.

“If you get a new weekly high close right around $12,000, this is a very bullish sign. That means we have the highest close in three years… That would be the highest close since January 8, 2018…

It also means that on a weekly scale, there have only been one, two, three, four, five, six weeks that would have closed higher in the history of Bitcoin. That is incredible. This is absolutely incredible.”

Vays also highlights that based on the daily timeframe, Bitcoin looks ready to move higher.

“[I] just glanced the daily chart. The last time I did this video was like three or four days ago. I put in this little channel. This was my breakout line at $11,550. We broke that this morning. Got another green star. Everything is lining up right now: the weekly, the daily… I’m loving this, man. I think we’re ready for that breakout.”

While Vays is bullish on the largest cryptocurrency by market cap, another prominent trader notes that BTC’s historical price action and a pullback in the stock market may not bode well in the short-term. Crypto strategist and trader Smart Contracter references the price action early this year, which signals that BTC may revisit its March 2020 lows.

“BTC starting to look it did in Feb this year before we had that final capitulation low. Something to keep in mind, plus weekly SP500 close wasn’t too crash hot, kind of looks like a double top, and a test of 3,200 range lows on the cards.”

As for Ethereum, closely-followed trader Michaël van de Poppe says the second-largest cryptocurrency is poised for the next leg up if BTC continues to show signs of strength.

“We have to hold here (around $370). Get a compression going. If we get that compression going and test the highs again around the resistance area of $390, I think we can make a break out towards $440 at a relatively fast pace. That’s because also given the fact that we’ve got this frequent tests over here (around $390). That one more test will most likely cause the price to break through and make a rally towards $440.”

Meanwhile, a popular analyst on TradingView is telling his followers that XRP is also poised for a breakout rally if it holds historic support of $0.23.

“XRPUSD is in a situation where it needs to show how good it can hold the established supports and to form a decent breakout from this point as it is marked in my chart.

When XRPUSD shows up with this and moves above the upper boundary with a decisive volatile move it will finally confirm the descending-channel-formation properly to the upside and activate further movements. This perspective is also matching with the inverse head and shoulder formation XRPUSD is building here I mentioned already in the past analysis.”


Source: dailyhodl.com

Bitcoin Crosses $12K as Pelosi and Mnuchin Near Stimulus Deal

Bitcoin Crosses $12K as Pelosi and Mnuchin Near Stimulus Deal

Bitcoin rose on renewed optimism for the second coronavirus stimulus package, while the US dollar plunged.

House Speaker Nanci Pelosi said a bill for the compromised aid is on the way after confirming a fruitful, 45-minute telephonic conversation with Treasury Secretary Steven Mnuchin. Simultaneously, Senator Mitch McConnell, the majority leader, warned his lot not to negotiate a pre-election deal, stating the US cannot stomach another huge federal package.

In April, Congress had approved a $2 trillion relief fund to help American households and businesses through the coronavirus-led lockdown. The flood of new money into the economy via the Federal Reserve’s unprecedented bond-buying program also repaired markets that, in March, had crashed.

Bitcoin was among the fallen ones. The benchmark cryptocurrency plunged by more than 60 percent in just two days of trading. Nevertheless, its recovery picked momentum after the passing of the $2 trillion stimulus package. At one point in the third quarter, the BTC/USD exchange rate was up by almost 230 percent from mid-March lows.

The stimulus has, therefore, played a critical role in determining the next Bitcoin bias. But with the existing package drying out, and a delay in passing the second one ahead of the US presidential election, the cryptocurrency has entered a medium-term bias conflict.

On Wednesday, BTC/USD rose 2.79 percent to $12,256. At its intraday high, the pair was trading at $12,322, its best level since August 2020.

Bitcoin continues its upside momentum as hopes for stimulus deal resurface. Source: TradingView.com

Anthony Pompliano, the co-founder of Morgan Creek Digital, said in an investor note earlier this week that he expects Bitcoin to grow by approximately 10-times its current spot rate.

“The Federal Reserve has cut interest rates to 0%,” he explained. “They plan to keep us in a zero-rate environment for the foreseeable future. Multiple stimulus packages in 2020 now total more than $3 trillion in QE. We have another $2 trillion on the way […] My base case for [Bitcoin] is approximately 10x to $100,000 and the bull case is around $250,000 per Bitcoin.”

At the same time, Mr. Pompliano warned that the cryptocurrency may undergo wild downside correction as it targets a $100K valuation in 2021. But he remained confident that investors would keep reallocating their portfolios to the nascent asset.

“I am urging you to take another look at Bitcoin as a potential 1-10% allocation in your portfolio over the next 15 months,” he told investors.

The Bitcoin futures market did not show as much enthusiasm to the price rally as the Spot one. According to data fetched by Glassnode, funding rates across leading cryptocurrency exchanges, including Binance, Deribit, and BitMEX, turned negative over the weekend. It was the same period when Bitcoin closed above $11,000.

The trend remained the same on Wednesday as the cryptocurrency breached $12,000. That, at best, showed cautiousness at the end of futures traders. It may lead to downside corrections in the near future.

Source: crytonow.com

Author: adminhttps://crytonow.com

Crypto.com Price Prediction: CRO screams buy eyeing breakout to $0.12

Crypto.com Price Prediction: CRO screams buy eyeing breakout to $0.12

  • Both technical and on-chain indicators support the CRO/USD bullish outlook.
  • A reversal could invalidate the bullish scenario if support at $0.12 fails to hold.
  • Crypto.com has gone through a gruesome week following the rejection at the 50 Simple Moving Average, as discussed. The declines were unstoppable at various levels, including $0.14 and $0.12. Fortunately, the buyer congestion at $0.1 appears strong enough to set CRO on a recovery path.

    As CRO price plunged, the Crypto.com team focused on development, with the latest upgrade on the platform’s Super App Menu. The redesigned menu now gives users the ability to navigate the app with ease. Some of the upgrade features include a list view of available assets, shortcuts that provide quick access to services such as Card-Top-Up and recurring purchasing.

    As earlier mentioned, CRO embraced support at $0.1. Buyers seem to be rushing back to take their positions after a life-threatening battering from the bears. CRO/USD is trading at $0.108 amid a bullish building momentum.

    The Relative Strength Index (RSI) also shines a light on the bullish outlook after changing direction upwards. Oversold conditions present buying opportunities as they signal the possibility of a reversal. Therefore, it is probable that Crypto.com will continue to gain momentum in the short term as buy orders increase.

    A sell signal presented by the TD Sequential indicator in the form of red nine candlestick on the daily chart gives credence to the bullish case. It could also mean that CRO has bottomed out and it’s time to buy the dip.

    Resistance at the 200 Simple Moving Average (SMA) is likely to absorb some buying pressure. However, if the hurdle is pushed into the rearview, Crypto.com could quickly rally to $0.16.

    CRO/USD price chart

    IntoTheBlock’s IOMAP reveals the absence of resistance ahead of CRO. Thus, if the subtle selling pressure between $0.107 and $0.11 is overcome, the rest of the journey to $0.12 will be relatively smooth. Previously, 778 addresses purchased about 10 million CRO.

    On the flip side, Crypto.com is sitting on an area with immense support. The demand in the range between $0.1 and $0.103 hails from the 84 addresses that previously bought roughly 2.7 billion CRO. It is unlikely for Crypto.com to penetrate this zone, especially with buyers slowly returning to the market.

    CRO IOMAP model

    It is worth mentioning that the buy signal will be invalidated if support at $0.12 fails to hold. In other words, crypto.com is not entirely out of the woods yet. Moreover, the resistance presented by the IOMAP between $0.1 and $0.103 might delay the breakout even resume the downtrend to $0.057 as discussed before.

    Source: www.forexcrunch.com

    Author: FX Street


    Exploring the landscape of crypto regulations in sub-Saharan Africa By Cointelegraph

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