REN, CELR and CVC ignore the market’s bearish reaction to China’s new crypto ban by posting double-digit gains. The bullish momentum that had been growi...
Category: China
The People’s Bank of China (PBOC), the country’s central bank, published a Q&A to its website which said that Chinese citizens participating in virtual currency exchange offshore is “considered illegal financial activity.” The PBOC also reiterated comments it had made in the past stressing that “financial institutions and non-bank payment institutions” cannot process crypto payments. […]
The latest debacle over China’s anti-crypto stance has a firm historical echo to it — and old hands are more than aware. Bitcoin (BTC) dipped deeper to ...
The Chinese central bank sets up a “coordination mechanism” with state agencies to continue battling crypto. The Chinese government is getting more ser...
Old news suddenly gets picked up on social media, sparking an instant crypto price crash. Bitcoin (BTC) suddenly lost $2,000 in an hour on Sept. 24 as w...
PBoC maintains its anti-crypto stance despite local players experimenting with digital yuan-pegged stablecoins. The rapid adoption of cryptocurrencies l...
Nexi, a leading European payments company, is reportedly giving advice to the European Central Bank (ECB) related to the digital euro project. The announcement was made by Nexi’s CEO Paolo Bertoluzzo, who also gave his opinion about the future of central bank digital currencies (CBDC) and cryptocurrencies during the Money 20/20 fintech conference in Amsterdam. […]
The world is still focused on the financial downfall of China’s real estate giant Evergrande and according to Chinese authorities have told the private sector to get “ready for the possible storm.” Reports show that even though the People’s Bank of China already provided $18.6 billion in liquidity to ease the brunt, Beijing may not […]
This week's price action shows Bitcoin bulls were a bit overzealous about Friday's $3 billion BTC options expiry. This week's combination of bearish fa...
Conflux will provide the technology to launch an offshore RMB stablecoin pegged to China’s CBDC, the digital yuan. As financial authorities around the g...
AXS may form a death cross between its 20-day and 50-day exponential moving averages despite the latest rebound. Axie Infinity's native cryptocurrency A...
Predictions include a short-term low at $42,000 as overnight progress turns into consolidation.
Bitcoin (BTC) faced stiff resistance above $44,000 on Thursday, Sept. 23, as China told governments to prepare for property giant Evergrande to collapse.
Buyers line up to snag sub-$40,000 BTC
Data from Cointelegraph Markets Pro and TradingView showed volatility continuing for BTC/USD Thursday.
The pair had seen a solid recovery overnight, this fading at what was previous support just above $44,000.
At the time of writing, the pair traded at around $43,700, dipping as news hit that China was briefing governmental structures on Evergrande’s financial fallout.
Signals remain mixed over the troubled firm, shares of which jumped amid signs of an exit from what chairman Hui Ka Yuan called its “darkest moment.”
For Bitcoin traders, however, it was business as usual and little cause for concern.
“Bitcoin correcting a little, as we’ve approached the resistance,” Cointelegraph contributor Michaël van de Poppe summarized.
“Looking at $42K as a potential support zone for a higher low to be created.”
Fellow trader Pentoshi harked back to previous bull market years, which likewise saw multiple deeper corrections from local highs on the way to a larger cycle top.
Can't have peaks w/o valleys
— Pent◎shi Wont DM You (@Pentosh1) September 22, 2021
In 2017 there were 5 corrections lasted between 13-34 days greater than 20%
This year we have had 5 corrections of greater than 20% and $BTC is still currently 42.5k
The volatility is all opportunity at the end of the day
Data from monitoring resource Material Indicators, meanwhile, showed a considerable buy wall building up below $40,000.
Altcoins keep the faith on next “impulse moves”
Bitcoin’s 24-hour gains provided a boost for flagging altcoins that had suffered during the previous retests of $40,000 support.
Related: Just another bubble? Bitcoin price tops follow Chinese debt cycles, new research shows
The top 10 cryptocurrencies were led by Solana (SOL) on the day, up 12%, while the largest altcoin, Ether (ETH), was up 5.3% above $3,000.
“I think Ether against Bitcoin is likely bottomed out at this stage,” van de Poppe said in a YouTube update.
He added that altcoins more broadly were still apt to see “new impulse waves” as Bitcoin’s slow return to form failed to dampen strength.
The Chinese property developer will soon be a "non-event," one analyst says, with markets already shrugging off the story. Bitcoin (BTC) bounced from a ...
Marty Bent, the co-founder of Bitcoin mining firm Great American Mining, is glad to be hodling Bitcoin as uncertainty hangs over the legacy financial system ...
Fear over the Evergrande situation weighed heavily on equities markets and Bitcoin price, leading traders to expect a bounce in the $42,000 to $38,000 zone. ...
Global investors have their eyes peeled on the Evergrande Group or the Evergrande Real Estate Group, China’s second-largest property developer by sales. Evergrande Group shares nosedived on Monday dropping to 11-year lows and many analysts and economists are concerned about a possible credit contagion. Credit problems with China’s real estate industry have affected global markets […]
Bitcoin has been leaving Coinbase’s wallets in 2021, while BTC exchange reserves on Binance tell a different story. Despite Bitcoin (BTC) dropping below...
BTC’s lack of integration with traditional finance and its inability to be forcefully sold to cover financial losses mean the price might not ‘collapse’ if there is a globa...
Bitcoin’s hashrate has been climbing higher during the last two weeks, hitting 174 exahash per second (EH/s) on two occasions since June 28. Currently, Bitcoin’s network hashrate is coasting along at 158 EH/s, up 128% since the low 83 days ago when it hit 69 EH/s. Meanwhile, unknown hashrate has subsided a great deal as […]
Authorities in the Chinese province of Hebei have reportedly launched a campaign against cryptocurrency mining and trading. According to a quoted announcement by the region’s cyberspace administration, a number of government agencies are working together to prevent the use of the region’s computing power in the crypto activities which the government considers illegal. Cyberspace Watchdog […]
Authorities in the province say crypto mining is inimical to China's environmental conservation efforts. Hebei, a province in Northern China, is the lat...
Countries vie for cryptocurrency miner business as Chinese miners move to greener pastures. Here's where they are ending up. A few months ago, the crypt...
The local news publication, acting as the party's spokesperson, warned of a major decrease in the value of NFT assets once its bubble pops. According t...
Investing in Bitcoin and other cryptocurrencies could become more restrictive for residents of Hong Kong as local regulators look to clamp down on the asset class for vario...
