Tag Archives: 30K

First Mover Asia: Bitcoin Maintains $30K as Prospective Issuers Refile ETF Applications – CoinDesk

  1. First Mover Asia: Bitcoin Maintains $30K as Prospective Issuers Refile ETF Applications CoinDesk
  2. Bitcoin flat, Ether gains in mixed crypto market; Solana rebounds, Litecoin leads winners Yahoo Finance
  3. Double or Nothing: Top Analyst Benjamin Cowen Expects Bitcoin to Double in Price Crypto News Flash
  4. Bitcoin Teeters at $30.5K! Is BTC Price Showing Warning Signs or Buying Opportunity for July? Coinpedia Fintech News
  5. Bitcoin Gearing Up for Next Move Following Quick Correction, According to Top Analyst – Here’s His Target The Daily Hodl
  6. View Full Coverage on Google News

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Bitcoin trades above $30K, boosting traders’ interest in ETH, ARB, VET and STX – Cointelegraph

  1. Bitcoin trades above $30K, boosting traders’ interest in ETH, ARB, VET and STX Cointelegraph
  2. Bitcoin price hits 1-year high; Here’s a buy zone if correction occurs Finbold – Finance in Bold
  3. Bitcoin ETFs: The Game-Changing Move That Could Skyrocket Crypto To All-Time Highs Benzinga
  4. Veteran Trader Peter Brandt Labels BTC a Legacy Coin to Outlast ‘Make-Believe Cryptos Wannabees’ – Featured Bitcoin News Bitcoin News
  5. Trader Who Called 2018 Bitcoin Bottom Issues Alert, Predicts BTC Correction Following Fresh Yearly High The Daily Hodl
  6. View Full Coverage on Google News

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Cryptoverse: Jump or slump? $30k or $5k? Play the bitcoin roulette

Dec 13 (Reuters) – Plucky bitcoin’s been holding steady since seeing off the chaos of the FTX collapse, gathering its strength to rally towards the dizzy heights of $30,000 in 2023.

Battered bitcoin’s been unresponsive since being clobbered by the FTX collapse, taking in a deep ragged breath before plunging towards the depths of $5,000.

Place your bets, spin the wheel.

The world’s dominant cryptocurrency has certainly been uncharacteristically muted over the past two weeks, treading water between about $15,770 and $17,350 in the eerie wake of the FTX-induced market mini-crash in November.

What happens next is anyone’s guess.

“The question we need to be asking ourselves now is: Are there any sellers left in this market? To my mind, no, there aren’t that many left,” said Jacob Sansbury, co-founder of retail investor services firm Pluto.

Sansbury believes most over-leveraged miners, who tend to be large holders of bitcoin, have exited positions to pay off debts taken out in traditional money to fund their equipment and operations.

Indeed bitcoin’s recent calmness could be down to the fact that there are fewer coins to sell: the amount held on exchanges for trading stands at 1.97 million, Coinglass data shows, down steeply from 2.33 million at the start of the year.

Major offloading has already taken place; November saw a 7-day realized loss of $10.16 billion in bitcoin investments as investors were forced to exit long-term positions, the fourth-largest loss on record by this measure, according to Glassnode data.

The cryptocurrency has already dropped more than 60% in 2022 and set to see its first annual loss since 2018.

Many remaining investors are placing their bitcoin into offline “cold storage” according to on-chain data, which should strengthen a floor price around $16,000, said Bob Ras, co-founder of Sologenic, an exchange and digital asset firm.

“Barring any more surprises in the market, it’s hard to imagine BTC going significantly lower,” he added.

Ras believes that if it wasn’t for the high-profile collapse of crypto players FTX, Celsius and Terra this year, the price of bitcoin would be close to $25,000 now.

But this is crypto, and more surprises could well be in store, with a number of potential selling triggers on the horizon.

THE BEAR’S TALE

First potential peril is the risk of more bitcoin miners being forced to sell their holdings to stay afloat, as mining becomes increasingly expensive.

“Miners as a group start to become unprofitable under $20,000, so we’re below (that) point,” noted Ben McMillan, chief investment officer at IDX Digital Assets.

CrytpoQuant’s miner reserve indicator, which tracks the amount of bitcoin held in miners’ wallets, has dropped by about 7,722 bitcoin since November.

Market players also pointed to concerns about the Grayscale Bitcoin Trust, (GBTC.PK) the world’s largest bitcoin fund with $10.9 billion in assets. Parent company Digital Currency Group, which owns Genesis Trading, owes $575 million to Genesis’ crypto lending arm, DCG’s CEO told shareholders on Nov. 22.

Grayscale Bitcoin Trust’s discount to its net asset value, is at an all-time low of 48% and shares have not traded at a premium since March 2021, Coinglass data showed.

DCG last month said troubles at Genesis’ lending business had no impact on DCG and its subsidiaries, while Grayscale maintained it was business as usual and its underlying assets were unaffected.

“This could be the other shoe to drop,” said McMillan, referring to the possibility of Grayscale running into financial trouble. “That said, if bitcoin can hold the $15,000 line through the DCG workout, that would be a strong indicator going into 2023.

A more hawkish than expected Federal Reserve at its final meeting of the year on Wednesday could further erode risk appetite and bitcoin’s prospects, crypto watchers said.

Bitcoin has fallen 75% after hitting a record high of $69,000 in November 2021

GETTING TECHNICAL

The scenarios of bitcoin leaping to $30,000 or tumbling to $5,000 in 2023 were long-shot possibilities flagged by VanEck and Standard Chartered, respectively.

When it comes to the technicals, several analysts pointed to indicators showing bitcoin may have found support between $16,000 and $16,800.

The cryptocurrency could also run into resistance around the $17,490 level, said Eddie Tofpik, head of technical analysis at ADM Investor Services, cautioning that any long-term rally was likely to be challenging.

“Anytime we see a rally, it’s one step up and then two or three steps down,” he said.

Vetle Lunde, analyst at Arcane Research, said long-term bets could be appealing in the wake of the November turmoil.

Nonetheless, uncertainty reigns.

“Bear in mind that massive drawdowns tend to be followed by a long-lasting directionless market filled with apathy and unfathomable second-guessing,” Lunde added.

Reuters Graphics Reuters Graphics

Reporting by Lisa Pauline Mattackal and Medha Singh in Bengaluru; Editing by Pravin Char

Our Standards: The Thomson Reuters Trust Principles.

Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

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Crypto Trader Who Warned Bitcoin Would Break Under $30K, Now Predicts New 52-Week Low

Pseudonymous crypto trader Capo says that Bitcoin BTC/USD is poised to hit a new 52-week low as another sell-off event is insight. 

The prediction comes as the crypto market is showing signs of weakness, and as Bitcoin has managed to trade above $28,400, slightly higher than its 52-week low of $26,910.

Capo has warned that the support area around $28,000 is flashing signs of demand exhaustion, as BTC has revisited the price level six times quickly. 

“Almost the entire market except BTC has made a new low after yesterday’s bounce, showing that it was a bull trap. BTC new low incoming,” he said. 

Once Bitcoin takes out its immediate support, Capo predicts a sharp decline to his bear market target of between $21,000-$23,000.

Also Read: Billionaire Mike Novogratz Says Bitcoin Will Lead Next Rally: Here’s Why

Earlier this month, the crypto strategist accurately predicted that Bitcoin would take out the key psychological price level of $30,000. 

Capo said, “BTC broke the $30,000 support zone, which was the main pivot of the bull run. This is a zone, not a level. It’s between $29,000-$31,000, taking all the wicks. Now it’s testing that zone as resistance.”

Capo also highlights that Bitcoin has broken down from a bear flag and is en route to his bear market target.

“The minimum target of the bear flag hasn’t been reached yet $23,000. You can also see this on altcoins, where some of the main targets haven’t been reached yet,” he added.



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Cheer college ‘only paid $30K from Netflix’ … as enrollment at Navarro College DROPS

Navarro College, the setting for the popular Netflix docuseries Cheer, which just dropped season two, reportedly earned just $30K a year from the streaming giant, Sportico reported on Wednesday – despite the company boasting a $25million profit in 2020. 

Along with Navarro, nearby Texas rival school, Trinity Valley Community College, was also paid just the relatively small location fee in order to serve as the other backdrop for the show. 

Additionally, the meteoric popularity of the show hasn’t translated to on-campus interest with Navarro’s director of marketing and public information, Stacie Sipes, telling the outlet that enrollment has actually declined since season one.

Bad deal: Navarro College, the setting for Netflix’s Cheer, reportedly earned just $30K a year from the streaming giant, Sportico reported on Wednesday

When Netflix first tapped Navarro to be the subject of their then-untitled cheerleading reality series in 2018, the school agreed to be paid $30K from the production company to film, it has been reported. 

The deal, signed between the school and Boardwalk Pictures also ‘provided Cheer’s producers with an exclusive option to renew for five additional academic years, at the same fee.’ 

‘Everybody thinks we made a million dollars off of the show, and as you can see from the contract, we did not,’ Sipes told Sportico. 

In 2020, Netflix also got the school to sign away 50% of merchandising revenue. That was the same year the company reported a $25million profit. 

Setting the stage: The deal, signed between the school and Boardwalk Pictures also ‘provided Cheer’s producers with an exclusive option to renew for five additional academic years, at the same fee’

Season one of Cheer also debuted in 2020 and became an instant hit for Netflix, with many of the stars, including coach Monica Aldama turning into over-night celebrities.  

The success of the show – which has since been marred by scandal after break-out star Jerry Harris was indicted for child pornography – failed to translate to interest from prospective students. 

‘We have had declining enrollment,’ Sipes said in an interview. ‘I could probably name four or five students that we heard came here because they heard about our college [through Cheer].

‘As Monica and I have both said previously: We were hoping not to get fired. We just wanted to have a really good show produced about her program; we never really thought about having people flocking to our school.’ 

‘Everybody thinks we made a million dollars off of the show, and as you can see from the contract, we did not,’ Sipes told Sportico, adding: ‘We have had declining enrollment.’

Cheer landed back on Netflix last week as season two hit the streaming service.

Cheer follows the champion cheerleaders of Texas junior college Navarro as they train for their only competition of the year – the National Cheerleaders Association’s Collegiate National Championship, a.k.a. Daytona.

Season one followed the team and coach Monica as they trained for and then won the April 2019 championship.

Season two picks up in early 2020 in the weeks leading up to the 2020 competition, before the first major upheaval of the series arrives – the global pandemic.

The story: Cheer follows the champion cheerleaders of Texas junior college Navarro as they train for their only competition of the year – the National Cheerleaders Association’s Collegiate National Championship, a.k.a. Daytona

What follows is a season split into two. The first four episodes are full of gleeful pep as the squad and Monica giddily navigate their new fame with appearances on Ellen, red carpets, photoshoots alongside their daily practices in Navarro.

But just weeks before Daytona Covid hits, the competition is cancelled and the team is unceremoniously sent home.

The pandemic means an abrupt end to many of the season one fan favorites’ cheer careers as the likes of Morgan Simianer and Lexi Brumback leave the college and the mat behind. Season two then fast forwards a year as a new round of recruits practice for Daytona 2021. 

Covid decimated the season one team beloved by fans, but the major shock over the past year has been the events surrounding the first series’ breakout star Jerry Harris who was indicted on child pornography charges in September 2020.

Scandal: Covid decimated the season one team beloved by fans, but the major shock over the past year has been the events surrounding the first series’ breakout star Jerry Harris who was indicted on child pornography charges in September 2020

Season two dedicates an episode to the charges, interviewing the family whose accusations sparked the FBI’s initial investigation into Harris’ alleged behavior. It also features interviews with Monica and his former teammates as they unpack their feelings about their friend.

‘Jerry would’ve been impossible to ignore because it impacted the team so severely,’ said director Greg Whiteley last year.

In the midst of shooting season two, Harris was accused of convincing several minors to send him sexually explicit photos and videos of themselves.

Prosecutors alleged that Harris admitted to FBI agents to asking a teenage boy to send him lewd photographs of himself but that he also requested on Snapchat child pornography from at least 10 to 15 others he knew to be minors.

At the time of Jerry’s arrest, Netflix released a short statement which read: ‘Like everyone we are shocked by this news. Any abuse of minors is a terrible crime and we respect the legal process.’

Two months after his initial arrest, Harris was then was indicted on seven new charges that alleged he solicited sex from minors at cheerleading competitions and convinced teenage boys to send him obscene photographs and videos.

The 22-year-old also allegedly crossed states with the purpose of having sex with one victim.

Additionally, 14-year-old cheerleading twin brothers filed a lawsuit in Texas alleging he solicited sexually explicit photos from them for a year and asked one of them for oral sex.

Through his attorney the former Cheer star denied the accusations in the lawsuit: ‘(We) categorically dispute the claims made against Jerry Harris, which are alleged to have occurred when he was a teenager. We are confident that when the investigation is completed, the true facts will be revealed.’

At the time, Netflix released a short statement which read: ‘Like everyone we are shocked by this news. Any abuse of minors is a terrible crime and we respect the legal process.’  

With familiar faces leaving the show, season two chooses to split fans allegiances and introduce Navarro’s rivals Trinity Valley (the only other junior college who competes in Navarro’s division at Daytona), and a whole new cast of tumblers, to the show. 

Season two: With familiar faces leaving the show, season two chooses to split fans allegiances and introduce Navarro’s rivals Trinity Valley (the only other junior college who competes in Navarro’s division at Daytona), and a whole new cast of tumblers, to the show

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Bitcoin crash ahead? Expert warns higher inflation could whip BTC price to $30K

Bitcoin (BTC) may end up falling to as low as $30,000 if the U.S. inflation data to be released on Wednesday comes any higher than forecasted, warns Alex Krüger, founder of Aike Capital, a New York-based asset management firm.

The market expects the widely-followed consumer price index (CPI) to rise 7.1% for the year through December and 0.4% month-over-month. This surge highlights why the U.S. Federal Reserve officials have been rooting for a faster normalization of their monetary policy than anticipated earlier.

U.S. headline inflation. Source: Bureau of Labor Statistics, Bloomberg

Further supporting their preparation is a normalizing labor market, including a rise in income and falling unemployment claims, according to data released on Jan. 7.

“Crypto assets are at the furthest end of the risk curve,” tweeted Krüger on Sunday, adding that since they had benefited from the Fed’s “extraordinarily lax monetary policy,” it should suffice to say that they would suffer as an “unexpectedly tighter” policy shifts money into safer asset classes.

Excerpts:

“Bitcoin is now a macro asset that trades as a proxy for liquidity conditions. As liquidity diminishes, macro players now in the fray sell bitcoin, and all of the crypto follows.”

The first interest rate hike in March 2022?

The Fed has been buying $80 billion worth of government bonds and $40 billion worth of mortgage-backed securities every month since March 2020. Meanwhile, the U.S. central bank has kept its benchmark interest rates near zero, thus making lending to individuals and businesses cheaper.

BTC/USD vs. Fed balance sheet. Source: TradingView

But the collateral damage of a loose monetary policy is higher inflation, which reached 6.8% in Nov. 2021, the highest in almost four decades.

So now the Fed, which once claimed that rising consumer prices are “transitory,” has switched its stance from expecting no rate hikes in 2022 to discussing three hikes alongside their balance sheet normalization.

“It’s more dramatic than what we anticipated and the Fed’s pivot to a more hawkish stance has been the surprise,” Leo Grohowski, the chief investment officer of BNY Mellon Wealth Management, told CNBC, adding:

“Most market participants expected higher rates, less accommodative monetary policy, but when you look at the fed funds implying a 90% chance of a hike in March, on New Year’s Eve that was just 63%.”

Mini bear market?

Mike McGlone, the senior commodity strategist at Bloomberg Intelligence, called $40,000 an important support level in the Bitcoin market. Furthermore, he anticipated that the cryptocurrency would eventually come out of its bearish phase as the world becomes digital and treats BTC as collateral.

BTC/USD daily price chart featuring $40K-level’s history as support. Source: TradingView

The statement arrived as Bitcoin’s drop from its Nov. 8 record high of $69,000 is now over 40%. According to Eric Ervin, chief executive officer at Blockforce Capital, the drop has primarily washed off recent investors, leaving the market with long-term holders.

It could be the beginning of a “mini bear market,” the executive told Bloomberg, adding that such corrections are “completely normal” for crypto investors.

Related: Bitcoin performs classic bounce at $40.7K as BTC price comes full circle from January 2021

Krüger also noted that Bitcoin has already dropped too much from its record highs, insofar that it now stands technically oversold. So, if the CPI reading surprises on the downside, markets could expect the BTC price to pop and trend for a while.

“Wednesday will have the US inflation data,” Krüger said, adding:

“Think prices should chop around 41k and 44k until then, with an upwards skew given how strong the rejection of the lows has been.”

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



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Bitcoin may pass $30K September lows, trader warns

Bitcoin (BTC) scooped liquidity at new lows on Jan. 7 as 2022 continued to deliver uninspiring price action. 

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Trader: BTC price should close above $42,400

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting its lowest levels since September overnight and reaching $40,938 on Bitstamp.

The pair had initially bounced at $42,000 but then renewed its descent, surpassing the floor seen in December’s liquidation cascade.

Among traders, the discussion focused on a similar event occurring, with targets even including a crash below September’s $30,000 lows.

“Could even go lower with a liquidation wick, below September lows,” popular Twitter trader Crypto Ed warned as part of his latest forecast.

At current levels, Bitcoin thus also threatened to disappoint trader Anbessa on daily timeframes.

Macro odds were stacked against both Bitcoin and crypto, commentators argued, headwinds coming from — among other things — events in Kazakhstan, home to an estimated 18% of Bitcoin’s hash rate.

Following mass internet outages across the country this week, hash rate estimates began to show an abrupt dip of around 20 exahashes per second (EH/s) from what were previously all-time highs of 192 EH/s — evoking last year’s Chinese miner exodus.

“The money printer ain’t going BRRR”

Looking forward, others likewise remained subdued on crypto market prospects thanks to macroeconomic policy.

Related: Bitcoin monthly RSI lowest since September 2020 in fresh ‘oversold’ signal

Among them was Arthur Hayes, former CEO of derivatives exchange BitMEX, who pointed at the United States Federal Reserve’s scheduled rate hikes and reduced asset purchases as souring the allure for risk-asset holders.

Easy money, he wrote in a fresh blog post released, is essentially drying up.

“Given the law of large numbers, a simple resumption of the previous trend in asset purchases will not cause the growth of the money supply to suddenly and sharply accelerate. Therefore, while risky assets would rejoice — crypto included — the best case is that asset purchases slowly grind higher towards their previous all-time highs,” he claimed.

“Even if that happens, the only way the crypto markets would move up is if the Fed publicly turned on the taps, and then fiat flowed into crypto.”

It remains unknown when the Fed will raise rates, while purchase reductions have already begun.



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Battlefield 2042 Has Almost 30k Negative Reviews On Steam

Image: EA / Kotaku

Yikes. Battlefield 2042, officially released just two days ago, is now one of the worst-reviewed games on Steam with over 29k negative reviews. Currently, it sits as the eighth lowest-rated game on Steam.

As spotted by Forbes via the Steam250 website, the game has now entered the top 10 worst reviewed games on Steam list, currently at number eight. And as more players review the game negatively, it will likely move up this list. It’s still not as hated as the disaster-pretending-to-be-a-video game known as eFootball 2022, but that’s a low bar to clear.

Battlefield 2042 has had a rough launch, with players complaining about broken vehicles, bad hitboxes, shoddy PC performance, issues with bullet registration and accuracy, a lack of features, and more. While the game did receive a day one patch, BF 2042 is still in really rough shape. And as a result, over on Steam, the game is getting reviewed very, very poorly by thousands of players.

Screenshot: Valve / Kotaku

Of the nearly 40k reviews on Steam, BF 2042 has only around 9,700 positive reviews. The other 29,000+ reviews are negative with many complaining about a lack of weapons, features, and bad performance on PC.

“When BF3 came out, I thought to myself, imagine how Battlefield will look like in ten years. Was not expecting this….” said one popular Steam review.

Players have spent the past few days compiling a list of everything that is missing or broken in BF 2042 and it’s a lot longer than I expected. Some notable omissions included limited traversal options, no standard server browser, the removal of the class-based system, no in-game profile or stats page, no spectator mode, and a lack of destruction compared to past games.

While I expect EA and Dice will work to improve Battlefield 2042 across all platforms, I get the distinct feeling this game shouldn’t have shipped this year. Perhaps in a few months, after some big updates, BF 2042 will improve its Steam reviews. But for now, it’s one of the worst-reviewed games on the platform.

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Restaurant worker awarded $30K by Canadian tribunal after pronoun spat

Don’t call them “sweetie.”

A restaurant worker who uses “they/them” pronouns was awarded $30,000 by a government tribunal after complaining about a manager who refused to abide by the request.

Instead of using Jesse Nelson’s preferred pronouns, the bar manager at Buono Osteria in Gibsons, Canada, repeatedly called Nelson “she,” “sweetheart,” “sweetie,” and “honey,” according to the British Columbia Human Rights Tribunal.

Nelson worked at the restaurant for about four weeks, according to the Vancouver Sun.

Devyn Cousineau, a tribunal member, found Nelson was “fired after their attempt to address this conduct led to a heated encounter,” according to the tribunal decision.

Cousineau found Nelson had been discriminated against, fully awarding the $30,000 sought, with the bar manager individually liable for $10,000 of that.

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519 more COVID-19 cases, 2 deaths, 30K vaccinations reported Friday in Utah

SALT LAKE CITY — Utah’s number of COVID-19 cases increased by 519 on Friday, with two more deaths and 30,300 vaccinations reported, according to the Utah Department of Health.

The state now estimates there are 12,601 active cases of the disease in Utah. The rolling seven-day average number of positive cases per day is now at 519, according to the health department. The positive test rate per day for that time period reported with the “people over people” method is now 8.4%. The positive test rate per day seven-day average calculated with the “test over test” method is now 4%.

There are 184 COVID-19 patients currently hospitalized in Utah, including 67 in intensive care, state data shows. About 69% of intensive care unit beds in Utah are filled, including about 72% of ICU beds in the state’s 16 referral hospitals, according to the health department. About 55% of non-ICU hospital beds in Utah are now filled, state data shows.

A total of 967,481 vaccines have been administered in the state, up from 936,681 Thursday. There are now 641,951 Utahns who have received at least one dose of the vaccine, while 348,650 are now fully vaccinated, state data shows. A total of 1,157,345 vaccine doses have now been shipped to Utah.

The new numbers indicate a 0.1% increase in positive cases since Thursday. Of the 2,279,263 people tested for COVID-19 in Utah so far, 16.6% have tested positive for the disease. The number of total tests conducted since the beginning of the pandemic is now at 3,984,895, up 13,535 since Thursday. Of those, 5,780 were tests of people who had not previously been tested for COVID-19.

The two deaths reported Friday were both Salt Lake County men who were hospitalized when they died. One was over the age of 85 and the other was between the ages of 45 and 64, according to the health department.

Friday’s totals give Utah 377,492 total confirmed cases, with 15,049 total hospitalizations and 2,017 total deaths from the disease. A total of 362,874 Utah COVID-19 cases are now considered recovered, according to state data.

Utah Gov. Spencer Cox provided a COVID-19 pandemic update at a news conference Thursday.

This story will be updated.

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