DAILY CRYPTOCURRENCY NEWS

Billionaire Miller Says Crypto an 'Insurance Policy' Because 'They Can't Confiscate Your Bitcoin'

For legendary investor Bill Miller, the biggest motivation behind the massive Bitcoin portfolio allocation is the government's lack of ability to intervene in its economy and ownership. The billionaire explained in a recent interview with WealthTrack that he invests 50% of his entire portfolio in Bitcoin and digital asset-related businesses.

UK Lawmakers Create Cryptocurrency and Digital Assets Group to Ensure Regulation Supports Innovation

UK lawmakers have created the Crypto and Digital Assets Group to ensure that new rules for the cryptocurrency industry support innovation. The British member of parliament, who will chair the group, said: "We are at a crucial time for the sector, as global policymakers are also now reviewing their approach to crypto and how it should be regulated."

Nasdaq-Listed Bitcoin Mining Company Invests $43 Million in Bitcoin

Bitfarms, a Canadian cryptocurrency mining firm listed on Nasdaq, announced that it had invested $43.2 million in Bitcoin after the price of BTC fell by about 12% in the first week of the year to increase the amount of BTC it holds. According to a press release published by Bitfarms, total BTC assets increased by 30% to over 4,300 BTC.

German Online Bank N26 to Start Crypto Trading in 2022

The Financial Times reported that the German online bank N26 had announced plans to launch a crypto trading service this year and add equities brokerage after that. Founding partner and CEO of Max N26 Tayenthal, recognized as one of Europe's largest fintech 7.8 billion valuations, the bank's new services shortsighted to focus on global expansion a priority at the expense of making a decision is adopted.

Former US SEC Chairman: Digital Assets Will Change Global Financial Infrastructure

Former Head of the US Securities and Exchange Commission (SEC) Jay Clayton said that digital assets will change the global financial infrastructure, but it is unclear which type of assets will be the most transformative. In an interview with Blockworks, he said, "I see that digital assets are part of our global infrastructure, whether in the form of a tokenized traditional security, a fiat currency, or a new type of asset."

According to Hedge Fund Veteran Cathie Wood, The Reason Why Crypto Correction Continues

ARK Invest founder Cathie Wood says the driving force behind the recent crypto market correction is connected to a trend happening in the equity markets. In a new video on the ARK Invest YouTube channel, Wood suggests that macroeconomic uncertainty is pushing up the US dollar and putting pressure on commodity markets.

Pantera Capital's CIO: Ethereum May Soon Be Behind 50% of All Financial Transactions

Ethereum will continue to outperform its competitors, according to Joey Krug, Chief Investment Officer at digital asset investment firm Pantera Capital. Also, the manager believes that Vitalik Buterin's project will realize 50% of global financial transactions in the next decade.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359191.57 TRY

Bitcoin gained a 1,16% value during morning hours; the current price is $42.364. Bitfarms, a Canadian cryptocurrency mining firm listed on Nasdaq, announced that it had invested $43.2 million in Bitcoin after the price of BTC fell by about 12% in the first week of the year to increase the amount of BTC it holds. According to a press release published by Bitfarms, total BTC assets increased by 30% to over 4,300 BTC.

When we consider the BTC/USDT pair technically, BTC broke the major uptrend on August 3, and sales pressure came to stage. It found support levels at $41.000 and $40.641 (Fibo'38,20) in the weekly chart. There is no clear reversal signal, but a relief action can occur after the sharp drop. The positive divergence and RSI 4-hour chart show that BTC has an upward moment.

RESISTANCES 43.211 / 44.118 / 45.887
SUPPORTS 40.535 / 38.766 / 37.859

BITCOIN [BTC] 359191.57 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24628.25 TRY

Ethereum gained a 1,11% value during morning hours, and the current price is $3118. Ethereum will continue to outperform its competitors, according to Joey Krug, Chief Investment Officer at digital asset investment firm Pantera Capital. Also, the manager believes that Vitalik Buterin's project will realize 50% of global financial transactions in the next decade.

When we consider the ETH/USDT pair technically, ETH had sharper downward price movements than Bitcoin. It retreated below $3000 (psychological level) and closed the day at $3082. As we mentioned in the daily bulletin yesterday, $2985 should be maintained to avoid deeper corrections. As long as ETH holds above $3000, there may be a short-term rise towards $3251 (Fibo'61,80). 

RESISTANCES 3226 / 3333 / 3484
SUPPORTS 2710 / 2818 / 2968

ETHEREUM [ETH] 24628.25 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 319.39 TRY

AVAX gained a 2,40% value during morning hours, and the current price is $86,20. When we consider the AVAX/USDT pair technically, AVAX retreated to $79.80 (support level) in the weekly chart when the market plummeted. AVAX, which erased some of the losses with its support from this level yesterday, closed the day below $ 86.62 (Fibo'50). The price movement continues at levels close to the AVAX support zone, but it is worth considering that the selling pressure has not yet ceased throughout the market and there has been no change in the risk elements existing at the macro level.

RESISTANCES 92,53 / 98,61 / 104,83
SUPPORTS 67,93 / 74,01 / 80,23

AVALANCHE [AVAX] 319.39 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.74 TRY

Ripple gained a 2,15% value during morning hours, and the current price is $0,7483. When we consider the XRP/USDT pair technically, along with the sharp declines experienced throughout the market, XRP retreated to the support level of $0,7121. Intraday losses were minimized in XRP, which found support from the same level. If the short-term existing downtrend break occurs for XRP, which we have not yet received a return signal in the daily chart, upward price movement can be seen.

RESISTANCES 0,7719 / 0,7939 / 0,8293
SUPPORTS 0,6571 / 0,6791 / 0,7145

RIPPLE [XRP] 8.74 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 989.52 TRY

LTC gained a 2,06% value during morning hours, and the current price is $129,0. When we consider the LTC/USDT pair technically, LTC had had a stagnated price movement between $141-144 for a long time. And LTC broke the support zone downward, and sharp sales followed. LTC retreated to $120. As we noted in the daily bulletin yesterday, the retracement may continue to $113. A breakout of the downtrend on November 2021 can trigger a rise.

RESISTANCES 133,10 / 137,81 / 144,01
SUPPORTS 111,28 / 115,99 / 122,19

LITECOIN [LTC] 989.52 TRY +7.00 +0.03 VOL 21 LTC

LINK gained a 0,35% value during morning hours, and the current price is $28,07. When we consider the LINK/USDT pair technically, LINK, which continues price action inside the ascending channel, is rising despite the market in general. The first major resistance level for LINK, which we expect long-term upward price movement with the return signal, is the $35-36 band.

RESISTANCES 29,49 / 30,94 / 33,19
SUPPORTS 22,09 / 23,55 / 25,79

BASIC ATTENTION TOKEN [BAT] 5.63 TRY

BAT gained a 3,00% value during morning hours, and the current price is $1,0270. When we consider the BAT/USDT pair technically, BAT broke the uptrend as of November this weekend and broke the level of $0,9679 (Fibo'38,20). But it could ultimately close the day above this level. Major price moves continue to affect altcoins. BAT can be priced above the uptrend and rise towards $1,2386 (50MA) if major moves recover.

RESISTANCES 1,0673 / 1,1080 / 1,1730
SUPPORTS 0,8559 / 0,8966 / 0,9616

BASIC ATTENTION TOKEN [BAT] 5.63 TRY +7.00 +0.03 VOL 21 BAT

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