Crypto News 05.11 .: Bitcoin consolidates over $ 60,000 and aims for a breakthrough with the news SushiSwap, Dogecoin, Bluzelle, Blockchain Global
Perceiving that Bitcoin bulls are aiming for strong growth, Billy Markus said that he was not related to Shiba Inu. Here are some highlights from the crypto market.
Bitcoin’s price continues to consolidate above the $ 60,000 zone and the bulls are aiming for a key target for a possible breakout.
Bitcoin price has continued to retreat lately, but the $ 60,000 area is expanding, which is a positive sign. If the bulls fail to sustain this level, we could see a decline towards the $ 58,300 to $ 53,000 zone.
BTC chart | Source: cryptoquant
To make a higher high, BTC needs to bring the $ 60,000 area to support and a closing price above $ 63,700.
A larger cup and handle pattern is taking shape. A closing price above $ 63,700 and $ 64,800 will help complete this pattern and give BTC an opportunity to break through the previous ATH.
The Elliot wave shows a higher impulse that ended the third subwave at $ 66,000 where the most recent pullback forms subwave 4.
Subwave 5 is likely to take BTC towards $ 70,000 to $ 80,000 which are the next big targets on the upside. There is still tech support and a strong on-chain support signal between $ 58,300 and $ 53,000 in case BTC closes below the $ 60,000 region.
Jefferies Group sells gold to continue investing in Bitcoin.
follow report von Business Standard, Christopher Wood, Head of Equity Strategy at multinational financial services firm Jefferies Group, reduced its exposure to gold in Asia and Japan by 5% to support Bitcoin.
This seems to be the most recent sign that the yellow metal is losing its luster as an inflation hedge.
Jefferies, which manages $ 440 billion in assets, has scaled back its exposure to gold for the first time in years to invest in BTC.
It allotted 5% to Bitcoin when the price of the largest cryptocurrency was around $ 22,000.
Less than half a year after the original proposal, SushiSwap announced the launch of the NFT platform and Metaverse.
The decentralized exchange SushiSwap will join NFT field and metaverse space by releasing a platform that combines the best of both spaces, along with the first v0 campaign that will run for ten weeks.
According to the press release, the new initiative is called Shoyu and was launched on May 3rd, five months after the original proposal was posted on the SushiSwap forums.
After a selection phase by Shoyu, some artists will have the opportunity to submit their digital works of art on the new NFT platform. Some pretty well-known personalities have signed up to take part, including Robert Gallardo, INJURY, Nicolas Sassoon, Thom Mayne and Keyon Christ.
Dogecoin co-founder Billy Markus has made his stance on the Shiba Inu cryptocurrency clear.
Markus, who co-founded the original meme coin in 2013, emphasized that he had nothing to do with the project.
The software engineer claimed that he had to remove the contact information from his website because it was filled with spam messages from the Shiba Inu army.
By the way, I have nothing to do with the SHIB project. I made Dogecoin 8 years ago and have hardly anything to do with Dogecoin.
I removed the contact form from my website as it was spammed with people from the SHIB community yelling at me about their token.
Do not do that.
– Shibetoshi Nakamoto (@ BillyM2k) November 5, 2021
Current blood cell
The decentralized database provider Bluzelle (BLZ) presents a tool that is intended to support the decentralization of the NFT market.
The new product will significantly improve the usability, security and transparency of NFT marketplaces.
Our NFT Storage Mainnet and other increased staking rewards are live!
We’re increasing our daily staking rewards by four times (4 times) the Earning Value for the remainder of 2021.
– Bluzelle (@BluzelleHQ) October 22, 2021
According to the official announcement by the Bluzelle development team, its highly anticipated decentralized data storage module R2 is now live.
The team is promoting this novelty as a flexible data storage solution. It acts as a decentralized storage platform with high security, availability and excellent censorship resistance.
Global blockchain news
Blockchain Global (BGL), the parent company of the Australian crypto exchange ACX, has now collapsed with an outstanding debt of $ 15 million.
On September 13, the Victoria Supreme Court ordered a freeze of 117.33 Bitcoin (BTC) – valued at around $ 7.1 million – due to the two companies behind the exchange, BGL and ACX Tech. Three days later, the companies were asked to disclose all their domestic and foreign holdings by September 30, but were unable to comply with this requirement.
Australian financial report report that BGL has since operated under voluntary leadership with debts of $ 15 million (A $ 21 million). BGL CEO Sam Lee said he stepped down as director in March 2019 but retained ownership of the brand.
The CRYP fund offers equity investors the opportunity to participate in the crypto market.
BetaShares’ new ETF management company has witness Crypto trading volume broke a record on the Australian Stock Exchange (ASX) within 15 minutes of being listed.
The Capital Appreciation Portfolio Diversification (CRYP) Fund offers investors exposure to 50 publicly traded crypto companies from around the world such as exchanges, mining companies and equipment companies.
The top companies at CRYP include Galaxy Digital (12.0%), Marathon Digital (11.3%), Coinbase Global (10.7%), Silvergate Capital (10.2%) and Microstrategy (9.4% ).
Within minutes, investors generated a trading volume that reached the current ETF record of 5.8 million. This signals an enormous demand for crypto exposure on the ASX.
Kusama, Polkadot, and Cardano are the three most actively developing blockchains.
According to the list provided by CryptoDiffer, the three most actively developing blockchains currently are Kusama, Polkadot and Cardano with over 130 commits on Github in the last 30 days.
Development activity is measured by the number of commits by different developers on Github. While Kusama, Cardano and Polkadot remain at the top, other coins like Ethereum have crossed the 100 commit threshold as well.
The most actively developed blockchain | Source: CryptoDiffer
Elon Musk supports Billy Markus’ view of the hype in the crypto market.
Billy Markus, one of the founders of Dogecoin, took to Twitter to criticize the cryptocurrency hype created by people looking to get rich quick with this market. Elon Musk supported the move.
Hype ^ hype
– Elon Musk (@elonmusk) November 4, 2021
Markus says the hype doesn’t last long as these “get rich quick” people are selling their cryptocurrencies quickly to meet their goals.
According to Markus, in order for a cryptocurrency or other asset to become more valuable in the future than it is now, its value must be added.
Tesla boss Elon Musk supported Markus’ claim.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews