Dominance of Bitcoin (BTC) – When will the relief of leadership be?

The price of Bitcoin (BTC) remains the leader among top-ranking cryptocurrencies in the short term, but beware, dominance comes under major technical resistance.

Bitcoin (BTC) in a speculative bubble?

The price of Bitcoin has progressed vertically since the technical breakout of old historical records, the famous $ 19,700 (€ 16,500) in December 2017. This technical resistance was overwhelmed 3 years later, triggering further acceleration of $ 8,000, relegating early supports to a dangerous distance for managing trading risk , essentially over the short-term time horizon.

The rout of the XRP token along with the legal dispute between the SEC and Ripple likely caused capital to move into BTC, thus assuming a “safe haven” role, but only within the crypto world. I believe the upside for a week has a speculative mini-bubble nature , beware of retracement risk as the market year ends tomorrow.

I invite you to watch my last video on this topic of Bitcoin’s current bullish excess:

Bitcoin Dominance Reaches Major Resistance

Without playing ominous birds, Bitcoin’s dominance is unlikely to reach 95% again, as the world before was a world without (or almost) altcoins. If we practice the technical analysis of the financial markets on the BTC dominance, a clear major resistance is present at 73%, I think that this barrier will not be crossed by the BTC, except for exceptional fact (for example, if the SEC attacks other major tokens).

The upcoming test of these 73% should cause a decline in dominance, this is naturally a personal opinion, in fine, only the proven facts will count.

Licence for first yen stablecoin operator in USA

New York: Licence for first yen stablecoin operator in USA

The Japanese company GMO is now allowed to offer stablecoins pegged to the yen and the US dollar in the US state of New York.

New York has granted a stablecoin pegged to the Japanese yen its first licence to operate in the United States.

According to an announcement on Tuesday, New York’s financial services regulator NYDFS has granted Japanese firm GMO-Z.com a licence to operate stablecoins in New York that are pegged to the US dollar and yen.

Given that New York is considered a global centre, the NYDFS is the most prominent state financial regulator in the United States and also one of the most aggressive. A licence to operate in New York often opens the doors for a Bitcoin Pro company to operate in the rest of the country.

CMO’s articles of association restrict the company’s

The CMO charter is more like a limited liability trust than a full-service bank. The main difference is that the latter has the authority to manage deposits. A stablecoin operator typically needs the authority to hold reserves of the asset in question. However, the CMO’s articles of association restrict the company’s rights to hold other types of deposits that are not central to the „issuance, management and redemption“ of its stablecoins.

The granting of such permissions is also a point of contention between state regulators such as the NYDFS and national banking regulators in the United States.

CMO President and CEO Ken Nakamura commented, „We are breaking new ground with our plan to issue the first regulated stablecoin pegged to the JPY. This is considered by many to be a safe haven.“

The NYDFS recently made changes to its famous BitLicense. Among them is a new rule that matches newly licensed firms with existing licensees. The first conditional BitLicense went to PayPal, which was able to launch its new crypto services in the autumn with the help of long-time licensee Paxos.

La volatilité des bitcoins n’est pas aussi sauvage que celle de Tesla

Les actions Bitcoin et Tesla ont toutes deux bénéficié de la volatilité individuelle de l’autre jusqu’à présent, l’année 2020 marquant un tournant historique pour les deux actifs.

L’écosystème des cryptocurrences est connu pour être un espace très volatile, la volatilité de Bitcoin provoquant le scepticisme de certains groupes d’investisseurs. Si beaucoup de gens connaissent la volatilité de Bitcoin, peu sont conscients de la volatilité qui abonde sur le marché boursier, mais la stratège de CoinShares, Meltem Demirors, a pris le temps de le souligner. Selon un entretien qu’elle a accordé à la „Squawk Box“ de CNBC, elle a souligné que, par rapport aux principaux indices boursiers qui ont atteint des records malgré les retombées économiques de Covid-19, les bitcoins semblent désormais „moins volatils“ qu’auparavant. Elle a comparé les gains enregistrés par Bitcoin en 2020 à ce jour avec ceux du constructeur de véhicules électriques Tesla Inc (NASDAQ : TSLA) et a souligné l’énorme écart entre les deux.

„Comme nous le savons, la volatilité est une mesure relative“, a-t-elle déclaré. „Dans l’environnement actuel, le bitcoin est en fait moins volatile que par le passé“. Elle a poursuivi en disant que „si nous regardons la hausse astronomique du marché des actions, la hausse du bitcoin n’est pas aussi sauvage“. La meilleure façon de le souligner est d’examiner les chiffres.

Avec le bitcoin qui a ouvert l’année à 7203 $, son prix actuel de 23 473,10 $ selon CoinMarketCap a montré que la première monnaie numérique a fait un bond de 326% depuis le début de l’année. Bien que cette croissance soit cataclysmique, Tesla a même réalisé de meilleures performances puisqu’il a bondi de plus de 700 % jusqu’à présent en 2020. Le 2 janvier 2020, chaque action TSLA valait 86,05 dollars, et avec le prix actuel de Tesla d’environ 635 dollars, cela signifie que l’action a bondi de 738%, éclipsant la hausse de 326% de Bitcoin.

2020 est une date importante pour Bitcoin et Tesla

Les actions Bitcoin et Tesla ont toutes deux bénéficié de la volatilité individuelle de l’autre jusqu’à présent, l’année 2020 marquant un tournant historique pour les deux actifs. La volatilité de Bitcoin a atteint un nouveau sommet historique de plus de 24 000 dollars en décembre, battant le record précédent fixé en décembre 2017, il y a exactement trois ans.

Tesla a également dépassé les attentes de nombreux analystes, puisque sa croissance au cours des cinq derniers trimestres et sa capitalisation boursière croissante due à l’adhésion des investisseurs l’ont fait entrer dans l’indice S&P 500 (INDEXSP : .INX) le lundi 21 décembre.

Les actions Bitcoin et Tesla représentent toutes deux une monnaie numérique hautement recommandée et un actif à détenir respectivement, en raison de leurs gains annuels actuels et de leur croissance future prévue. En raison de cela, M. Demirors a noté que „Avant, c’était un risque de carrière d’être exposé aux bitcoins, maintenant c’est un risque de carrière de ne pas être exposé aux bitcoins. Le monde a certainement beaucoup changé au cours des neuf derniers mois“.

Il governo „ permetterà “ a Bitcoin di andare a Wall St.?

La grande preoccupazione tra i bitcoin perma-bear è la minaccia del governo di „renderlo illegale“ …

L’ultimo spauracchio su questo fronte non è altro che il segretario al Tesoro degli Stati Uniti Steve Mnuchin. Circolano voci che stia prendendo in considerazione la messa al bando dei „portafogli di auto-custodia“ , confiscando in effetti le chiavi private delle criptovalute di tutti.

In un thread su Twitter, l’amministratore delegato [di Coinbase Brian Armstrong] ha detto che la sua azienda „ha sentito voci“ sui piani del Segretario al Tesoro degli Stati Uniti Steven Mnuchin di introdurre nuove regole per i „portafogli di auto-custodia“ entro la fine del suo mandato.

La natura aperta delle criptovalute consente a chiunque di creare un portafoglio privato scaricando software di terze parti sui propri computer / smartphone o tramite dispositivi hardware che memorizzano risorse digitali. Questi tipi di soluzioni di auto-custodia sono più economici dei servizi finanziari tradizionali e garantiscono la privacy .

Quelle voci sono apparentemente valide dal momento che Mnuchin ha ricevuto una lettera da quattro membri del Congresso che lo imploravano di non fare una cosa così monumentalmente stupida.

Davidson et.al. rendere il punto molto saliente che una mossa come questa sarebbe paralizzante per la fiorente criptovaluta, il mondo della finanza decentralizzata

È una lettera straordinariamente ben scritta che mostra un livello di comprensione della crittografia che semplicemente non ci si aspetterebbe da un membro del Congresso. Ma, ehi, prenderò la piacevole sorpresa.

Ora, per lo stesso motivo, Davidson sta parlando con uno degli oligarchi supremi che detiene uno degli uffici più potenti al mondo. Mnuchin, come il resto dei governatori mondiali, vede la minaccia per le valute emesse dalla banca centrale e non ama la concorrenza.

Così tanti che hanno sostenuto che Bitcoin Revolution alla fine sarebbe stato „ semplicemente reso illegale “ lo hanno fatto, nella migliore delle ipotesi, per motivi secondari, ignorando la praticità di come funziona Internet, ecc.

Ho già affrontato questi argomenti in passato, vedi Bitcoin vs. The Man pubblicato ad agosto

Con Stock to Flow in aumento, il che significa che il tasso di inflazione sta diminuendo mentre il mucchio totale accumulato è in aumento, la domanda marginale può facilmente spingere i prezzi a livelli che fanno arrossire anche il toro più ardente del bitcoin.

I governi sono, come ho detto prima, in un Catch-22. Se vietano la domanda di bitcoin diventa clandestina, le persone semplicemente lo comprano e lo detengono. Lo acquisiscono come possono e arrivano nuove tecnologie (scambi decentralizzati) per sostituire quelle attuali (Coinbase).

Se non lo vietano, consentono la crescita della domanda come riserva di valore e risorsa finanziaria. Esiste in un’area grigia dove puoi usarlo ma davvero non vuoi. Ciò consente a un’altra valvola di sfogo per il capitale di uscire dal morente sistema basato sul debito e attendere che la tempesta passi.

Ad ogni modo, vincono bitcoin e criptovalute.

La lettera dei Quattro Davidson riconosce questa comprensione di base. Cercare di rendere illegale il possesso delle tue chiavi private per le tue criptovalute allontanerà semplicemente il capitale dagli Stati Uniti

China organises a massive airdrop of the digital yuan in a pilot city

In China, the digital yuan is already available in some pilot cities, selected to prepare the national deployment. Over the weekend, 3 million dollars in digital yuan will be distributed to the inhabitants of the city of Suzhou via a draw. The launch is approaching?

 

China is organising a massive airdrop of the digital yuan in a pilot city.

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Digital yuan on trial

In China, the government of the city of Suzhou is distributing over the weekend 20 million yuan in digital form, the equivalent of 3 million dollars. The city’s 10.7 million inhabitants can sign up for this airdrop and 100,000 lucky people will each receive 200 digital yuan, or 30 dollars.

 

To ensure that the experiment is successful, the selected residents will be able to spend their digital yuans on the Internet during „Double 12“, a local version of Black Friday. Online, the digital yuan can be used for purchases on JD.com, the 2nd largest e-commerce platform in China.

 

At the same time, a handful of people will have the opportunity to spend their money in shops around the city to try out the offline payment function of the digital wallet.

 

This event is being organised in collaboration with a local bank, which will provide its mobile application dedicated to the digital yuan.

 

Apart from the fact that this is a trial for the digital yuan, a press release from the city of Suzhou on the subject explains :

 

„This event is also an innovative approach led by the city of Suzhou as part of the standardisation of epidemic prevention and control to stimulate consumption and domestic demand. It is of significant importance in promoting quality development of the local economy. »

 

👉 Related content – China bans all yuan-backed stablecoins

National deployment is getting closer

Such free distribution of the digital yuan is proving to be a relatively effective strategy for getting people used to the digital version of the yuan. Moreover, the integration of the digital yuan within the ecosystem of local giants such as JD, Alibaba or Tencent, gives it unprecedented visibility.

 

Other industries such as the telephone industry are working on solutions for the digital yuan. This is notably the case of Huawei, the smartphone manufacturer which revealed last October that its Mate 40 series models will include a hardware portfolio for the digital yuan.

 

Note that this is not the first full-scale test for the digital yuan. Last November, 50,000 inhabitants of the city of Shenzhen shared the equivalent of 1.5 million dollars in digital yuan. Some of the winners of this first airdrop hadn’t found the digital yuan particularly interesting compared to other means of payment already in existence, while designating it as less convenient.

 

The introduction of the digital yuan on the whole territory is getting closer, notwithstanding those who gave unfavourable criticisms against it …