Archiwa tagu: addition

Deadpool Soundtrack Composer Tom Holkenborg To Auction ‘Soundtrack Of Your Life’ NFT

Deadpool Soundtrack Composer Tom Holkenborg To Auction ‘Soundtrack Of Your Life’ NFT

Tom Holkenborg, a world-renowned film composer for Hollywood blockbusters and DJ, has announced the auctioning of a unique offering. Holkenborg is planning to compose a one-of-a-kind music score for the ‘Soundtrack Of Your Life’ NFT concept.’ The action is set for June 16, 2021, from noon EST. The auction will take place on Amplifyx, an […]

Scottish Roofing Firm’s Business Soars after Enabling Cryptocurrency Payments

Proton Mail Comes Forward in Support of Bitcoin - Not Selling

Proton Mail Comes Forward in Support of Bitcoin - Not SellingKaeleb Mckay, a Glasgow rooftop company CEO recently told the British press that his business had seen soaring numbers since customers started paying in crypto. In addition, he said that more of its customers, including retirees, are willing to pay with crypto.  Pensioners Paying In Crypto Kaeleb Mckay, who runs a roofing company with his

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‘Bitcoin is not an asset that is designed to be leveraged’ says Caitlin Long

Avanti Financial CEO says Bitcoin shouldn’t be leveraged, while regulations for stablecoins are underway

All eyes are on Bitcoin (BTC), as the largest cryptocurrency shot up past $40,000 on June 14. Unsurprisingly, the price increase happened shortly after Tesla CEO Elon Musk tweeted that the electric-car company would potentially accept BTC payments once more miners confirm green energy initiatives

Yet while Musk’s tweet may have driven the price of Bitcoin up, some industry experts believe that Bitcoin is not a cryptocurrency that should be leveraged. For example, during an exclusive interview at Bitcoin 2021 in Miami, Caitlin Long, founder and CEO of Avanti Financial, told Cointelegraph that unlike other cryptocurrencies, solvency matters more than leverage and liquidity when it comes to Bitcoin:

“Once you get into Bitcoin and you start losing money, I consider that to be really valuable tuition for really learning what Bitcoin is. We’ve got a lot of new people in this industry now who are going through those lessons, and hopefully folks will learn from them. Especially in this bull market, there’s been so much leverage added to the system. For those of us who’ve been around a long time, we’ve learned these lesson a long time ago – You don’t leverage Bitcoin.”

A regulatory push for Bitcoin and stablecoins

In addition to advising that Bitcoin shouldn’t be leveraged, Long mentioned that there are new regulations for Bitcoin coming out of Washington D.C., something which she believes has been coordinated with other government bodies. “It was Ray Dalio who said that Bitcoin’s biggest threat is success, because that means the regulators are going to be cracking down,” said Long.

Although this may be, Long pointed out that regulations will not ban cryptocurrency or Bitcoin — as long as users comply. She said:

“The punchline is that if you pay your taxes and you get regulated, and you don’t take shortcuts, you’re going to be okay. Those that are trying to commit crimes, or defraud consumers, or not pay taxes, and not comply with the law, then those people are not going to be okay.”

Long also noted that regulations around stablecoins are a priority for lawmakers. In particular, this will ensure that stablecoins don’t infect the U.S. dollar payment system with liquidity risk. To put this into perspective, Long mentioned the accidental hard fork that happened for a few hours in Ethereum (ETH) during November of last year, saying:

“At the time I was thinking what would happen if all the Ethereum ERC20 stablecoins had to be redeemed within the span of minutes because they had to be burned on one fork and reissued on another? That is not a risk that the traditional financial system has been thinking about.”

Moreover, Long commented on the risks associated with stablecoins back in May, warning that the entire stablecoin market has the potential to bring down other tokens upon a credit market correction.

Relite Finance Governance Token RELI Now Available On PancakeSwap

Relite Finance Governance Token RELI Now Available On PancakeSwap

Relite Finance, a decentralized lending protocol, has announced the listing of its native RELI token on PancakeSwap, a superior DEX platform on Binance Smart Chain (BSC). The Relite Finance team recently completed BSC bridge implementation using a smart contract, thereby enabling the launch of RELI/BNB. The bridge was long-anticipated and was marked as an important […]

Splinterlands Blockchain-Backed Game Announces Sell Out Of 1.5M Untamed Edition Booster Packs

Splinterlands Blockchain-Backed Game Announces Sell Out Of 1.5M Untamed Edition Booster Packs

Splinterlands, a blockchain-based collectible card game, has just announced that its Untamed Edition booster packs are completely sold out. The edition offered a total of 1.5 million NFT packs each at $2, all of which were depleted by Friday, June 11. Owing to its popularity as one of the most proactive and rewarding games, the […]

Here’s how pros safely trade Bitcoin while it range trades near $40K

Traders who are unsure about Bitcoin’s chance of continuation above $40,000 can use a combination of protective put options to generate profit.

Investors tend to define the market as either bullish or bearish, but sometimes the price can remain within a specific range for an extended period. 

This type of sideways movement is not necessarily stable because cryptocurrency markets have high volatility that stems from a range of uncertainties and the early adoption cycle.

For example, investors who concluded that the Bitcoin (BTC) bull run was over after the first week of 2021 probably regret that decision.

Bitcoin price at Coinbase in USD, Jan. 2021. Source: TradingView

Starting on Jan. 8, Bitcoin price traded in a descending channel within a $10,000 range. The movement lasted for 26 days until it finally broke out in early February.

Bitcoin price at Coinbase in USD, Aug. 2020. Source: TradingView

In August and September 2020, Bitcoin had two distinct ranging periods. However, it is not possible to consider those movements as a bull market. On the other hand, bears had few reasons to celebrate since the $10,000 bottom was tested multiple times, but the market recovered from it.

Is Bitcoin price in an ascending channel?

Although it seems premature to call it, there is a possibility that Bitcoin has entered a positive range aiming for $40,000 by the end of June.

Bitcoin price at Coinbase in USD, current. Source: TradingView

The present range indicates a $37,000 to $43,000 range for June 25, but with crypto’s extreme volatility, the channel’s support and resistance levels are sometimes drastically tested.

There is reason to believe that an impending short-squeeze could quickly recover a $50,000 support for Bitcoin, considering the $500 million raised by MicroStrategy and Paul Tudor Jones’s intention to increase his BTC position.

On the other hand, there are also fears that U.S. Treasury Secretary Janet Yellen’s remarks about digital assets being used for money laundering and illicit payments standing as a threat to Bitcoin price. Furthermore, Gary Gensler, the U.S. Securities and Exchange Commission chair, recently expressed concerns about the absence of regulation on crypto exchanges.

Smart traders take less risk on range trading moves

For options traders, the best option sometimes is to bet on maintaining the current range, especially for short-term periods. That’s where the Christmas tree spread with puts strategy enters into play.

Deribit position builder profit & loss simulator. Source: Deribit

Instead of betting on a bull or bear market, this option strategy uses protective put options to benefit traders with a neutral stance. The investor will profit if Bitcoin remains between $37,170 and $44,000 on June 25. Therefore, it offers protection both from an 8.5% move in either direction.

To achieve this, one needs to buy 2 BTC worth of the $36,000 put, sell 3.33 BTC worth of the $40,000 put in addition to buying 1.33 BTC of the $46,000 put. Each contract is maturing on June 25.

The Christmas tree spread with puts is a low-risk strategy

With less than 11 days left before the June 25 expiry, it is reasonable to assume that there is a good probability that the market stays within this range. However, this strategy offers a 0.062 BTC ($2,515 at $40,570) maximum loss in case of a surprise move.

Profit-wise, the strategy can yield a 0.1375 BTC ($5,500) gain at $40,000.

Therefore, it seems like a smart choice for an investor that expects the current uptick in bullish momentum to continue. It is worth noting that most derivative exchanges offer options trading from as little as 0.10 BTC.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.

How 2CrazyNFT Is Reshaping the Gaming and E-Sports Experience for Users?

Over the years we have witnessed an apparent gap between the traditional internet economy and decentralized internet usage. This is not just with respect to the financial industry but also the art, gaming and entertainment industry. The applicability of blockchain technology in various dimensions of life has driven greater value to the users. The team […]

Top Binance Smart Chain (BSC) Updates | June Week 2

Binance Smart Chain (BSC) has experienced some notable developments. To keep users informed of the latest developments concerning BSC, Altcoin Buzz has compiled the latest updates from last week. In addition to iMe Smart Platform announcing support for Binance Smart Chain (BSC), other updates include Guarda Wallet supporting BSC, and Seascape also announcing its registration for the […]

The post Top Binance Smart Chain (BSC) Updates | June Week 2 appeared first on Altcoin Buzz.

JP Morgan Analysts Think Weak Bitcoin (BTC) Futures Can Result In A Bear Market

The analysis of the market of cryptocurrency, which was performed by JPMorgan, undoubtedly highlighted the distinction between the spot prices of Bitcoin (BTC) and the futures prices of BTC. Analysts of JPMorgan stated that the market of Bitcoin has reverted to backwardation…

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Top 5 Crypto Exchanges For Margin Trading – Compared

There is the saying that – the higher the risk, the more profitable the output. The saying can be true, however, there should … Read more

The post Top 5 Crypto Exchanges For Margin Trading – Compared appeared first on NIGERIA BITCOIN COMMUNITY.