Presidential candidate and 45th U.S. President Donald Trump has declared support for the crypto sector. “I will also stop Joe Biden’s crusade to crush crypto,” he promised. “I will support the right to self-custody.” He will also “commute the sentence of Ross Ulbricht to a sentence of time served.” Moreover, Trump stressed, “I will keep […]
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Oklahoma Enacts Landmark Bill to Regulate Digital Assets, Protect Bitcoin Rights, Foster Crypto Innovation
The governor of the U.S. state of Oklahoma has approved House Bill 3594, a landmark bill that protects bitcoin rights and fosters cryptocurrency innovation. The legislation addresses the regulation and promotion of blockchain technology and cryptocurrency in the state. The bill defines key terms such as blockchain, blockchain protocol, and digital assets, which include virtual […]
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Wyoming Senator Slams DOJ’s Take on Non-Custodial Crypto Software, Vows to Protect User Rights
Wyoming’s Republican Senator Cynthia Lummis has responded to the Department of Justice’s (DOJ) latest argument regarding non-custodial software. Lummis’s remarks follow the DOJ’s reply brief on the indictment against Tornado Cash developer Roman Storm’s motion to dismiss. Senator Lummis Questions DOJ’s Non-Custodial Wallet Stance, Cites Legal Misinterpretations Senator Cynthia Lummis, a staunch advocate of cryptocurrency, […]
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Bitcoin Price Restarts Decline, Can BTC Bulls Protect $60K?
Bitcoin price started another decline from the ,000 zone. BTC is showing bearish signs and might soon revisit the ,000 support zone.
- Bitcoin failed to clear the ,000 resistance zone.
- The price is trading below ,000 and the 100 hourly Simple moving average.
- There was a break below a rising channel with support at ,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could extend its decline unless it clears the ,000 resistance zone.
Bitcoin Price Recovery Stalls
Bitcoin price attempted a recovery wave above the ,000 resistance zone. BTC even climbed above ,200, but the bears were active near the ,000 zone.
A high was formed at ,898 and the price started another decline amid rising tensions between Israel and Iran. There was a move below the ,000 and ,000 levels. The price traded below the 50% Fib retracement level of the upward move from the ,495 swing low to the ,898 high.
There was a break below a rising channel with support at ,900 on the hourly chart of the BTC/USD pair. Bitcoin is now trading below ,000 and the 100 hourly Simple moving average. The bulls are now protecting the 61.8% Fib retracement level of the upward move from the ,495 swing low to the ,898 high at ,000.
Immediate resistance is near the ,750 level. The first major resistance could be ,700. The next resistance now sits at ,000. If there is a clear move above the ,000 resistance zone, the price could continue to move up. In the stated case, the price could rise toward ,800 and the 100 hourly Simple moving average.
Source: BTCUSD on TradingView.com
The next major resistance is near the ,200 zone. Any more gains might send Bitcoin toward the ,000 resistance zone in the near term.
More Losses In BTC?
If Bitcoin fails to rise above the ,000 resistance zone, it could start another decline. Immediate support on the downside is near the ,000 level.
The first major support is ,000. If there is a close below ,000, the price could start to drop toward the ,000 level. Any more losses might send the price toward the ,500 support zone in the near term.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – ,000, followed by ,000.
Major Resistance Levels – ,700, ,000, and ,000.
Bitcoin Price Slides Within Range, Can Bulls Protect This Support?
Bitcoin price is moving lower from the ,000 resistance. BTC must stay above the ,000 support to start a fresh increase in the near term.
- Bitcoin price is correcting gains and moving lower from the ,000 zone.
- The price is trading below ,000 and the 100 hourly Simple moving average.
- There was a break below a key bullish trend line with support at ,820 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could revisit the ,000 support zone in the near term.
Bitcoin Price Corrects Lower
Bitcoin price made another attempt to gain strength above the ,500 level. However, there was no clear move above the ,500 level and the price reacted to the downside.
There was a drop below the ,000 and ,500 levels. Besides, there was a break below a key bullish trend line with support at ,820 on the hourly chart of the BTC/USD pair. The pair even declined below the ,000 level. A low is formed near ,403 and the price is now showing a few bearish signs.
Bitcoin is now trading below ,000 and the 100 hourly Simple moving average. Immediate resistance is near the ,000 level or the 50% Fib retracement level of the downward move from the ,043 swing high to the ,403 low.
Source: BTCUSD on TradingView.com
The next key resistance could be ,500 or the 61.8% Fib retracement level of the downward move from the ,043 swing high to the ,403 low, above which the price could rise toward the ,000 resistance zone. If there is a clear move above the ,000 resistance zone, the price could even attempt a move above the ,000 resistance zone. Any more gains might send the price toward the ,000 level.
More Losses In BTC?
If Bitcoin fails to rise above the ,500 resistance zone, it could continue to move down. Immediate support on the downside is near the ,500 level.
The first major support is ,500. The main support sits at ,000. If there is a close below ,000, the price could start a decent pullback toward the ,500 level. Any more losses might send the price toward the ,000 support zone.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – ,500, followed by ,000.
Major Resistance Levels – ,500, ,000, and ,000.
Bitcoin Price Takes Hit, Can Bulls Protect The Main Support at $40K?
Bitcoin price extended its decline below the ,450 support zone. BTC is showing bearish signs and might struggle to stay above the ,000 support zone.
- Bitcoin price is gaining bearish momentum below the ,500 zone.
- The price is trading below ,000 and the 100 hourly Simple moving average.
- There is a key bearish trend line forming with resistance near ,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair is now at risk of more downsides toward the ,000 support zone.
Bitcoin Price Gains Bearish Momentum
Bitcoin price failed to start a recovery wave above the ,250 resistance zone. BTC formed a short-term top and started another decline below the ,120 support zone.
The bears were able to push the price below the ,450 level. A new weekly low was formed near ,625 and the price is now consolidating losses. It is trading near the 23.6% Fib retracement level of the recent decline from the ,569 swing high to the ,625 low.
Bitcoin is now trading below ,000 and the 100 hourly Simple moving average. There is also a key bearish trend line forming with resistance near ,100 on the hourly chart of the BTC/USD pair.
On the upside, the price is facing resistance near the ,675 level. The next key resistance is near the ,100 zone and the trend line. It is also close to the 50% Fib retracement level of the recent decline from the ,569 swing high to the ,625 low.
Source: BTCUSD on TradingView.com
A clear move above the ,100 resistance could send the price toward the ,250 resistance. The next resistance is now forming near the ,500 level. A close above the ,500 level could push the price further higher. The next major resistance sits at ,450.
More Losses In BTC?
If Bitcoin fails to rise above the ,100 resistance zone, it could continue to move down. Immediate support on the downside is near the ,750 level.
The next major support is ,500. If there is a close below ,500, the price could gain bearish momentum. In the stated case, the price could drop toward the ,000 support in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – ,750, followed by ,000.
Major Resistance Levels – ,675, ,100, and ,250.
Bitcoin Price Plunge Imminent as Bears Protect Key Resistance
Bitcoin price is still struggling to clear the ,500 and ,700 resistance levels. BTC is showing a few bearish signs and might drop toward ,150.
- Bitcoin is facing a major hurdle near the ,500 resistance zone.
- The price is trading below ,000 and the 100 hourly Simple moving average.
- There was a break below a key bullish trend line with support at ,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could decline toward the ,350 and ,150 support levels.
Bitcoin Price Faces Hurdles
Bitcoin price attempted a fresh increase above the ,500 resistance zone. BTC even broke the ,800 resistance zone but the bears were active near the ,500 resistance zone.
There were a few attempts to gain strength above ,500, but the bears remained active. A high was formed near ,483 and the price is now showing a few bearish signs. There was a drop below the ,000 support zone. The price traded below the 50% Fib retracement level of the upward move from the ,480 swing low to the ,483 high.
Besides, there was a break below a key bullish trend line with support at ,000 on the hourly chart of the BTC/USD pair. Bitcoin is now below ,000 and the 100 hourly Simple moving average.
Source: BTCUSD on TradingView.com
On the upside, immediate resistance is near the ,000 level. The first major resistance is ,200. The main resistance is now forming near the ,500 level. A close above the ,500 level could send the price further higher. The next major resistance sits at ,450. Any more gains above the ,450 level could open the doors for a move toward the ,200 level.
More Losses In BTC?
If Bitcoin fails to rise above the ,000 resistance zone, it could continue to move down. Immediate support on the downside is near the ,200 level or the 61.8% Fib retracement level of the upward move from the ,480 swing low to the ,483 high.
The next major support is near ,800. If there is a move below ,800, the price could gain bearish momentum. In the stated case, the price could drop toward the ,150 support in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – ,800, followed by ,150.
Major Resistance Levels – ,000, ,200, and ,500.
Billionaire Mark Cuban: SEC Doesn’t Protect Anyone, Current Crypto Regulation Inadequate
Mark Cuban, a Shark Tank star and the billionaire owner of the NBA team Dallas Mavericks, says the U.S. Securities and Exchange Commission (SEC) doesn’t protect anyone, calling the regulator “the Quickbooks of financial regulation.” He stressed that the Howey Test isn’t enough to cover every crypto situation.
Mark Cuban Slams SEC: They Don’t Protect Anyone
Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, slammed the U.S. Securities and Exchange Commission (SEC) in a post on social media platform X Thursday.
Regarding whether the current securities law is sufficient to regulate crypto, Cuban said: “All you need to know is that Howey was not enough to cover every situation, so Reves came along.” Reves v. Ernst & Young is a Supreme Court case related to the definition of an “investment contract” under the Securities Act of 1933. The billionaire added:
Now there’s a need for a crypto complement to Howey and Reves.
The owner of the Dallas Mavericks opined: “The SEC is the Quickbooks of financial regulation. They don’t protect anyone but they are really good at bookkeeping.”
Cuban further shared: “It’s also nice to know that if the SEC had taken the same path as Japan and required collateral for crypto loans, all the bankrupt crypto services would still be alive. Just as FTX Japan is.”
Moreover, the Shark Tank investor questioned: “Has the SEC ever moved in to protect investors before something bad has happened?”
Noting that he has “supported and profited from Sharesleuth, finding obviously fraudulent companies and publishing what we have found,” the billionaire stressed: “The SEC has never stepped in to stop the fraud.” Sharesleuth is an investigative reporting website dedicated to uncovering securities fraud and corporate malfeasance.
“And of course, Pink Sheets / OTC now have registration and are still prone to fraud,” Cuban continued, concluding:
And then there are the protections for the millions and billions of shares traded in bankrupt companies that the SEC does nothing to prevent. Because hey, registration obviously is enough to protect investors.
Do you agree with billionaire Mark Cuban about the SEC? Let us know in the comments section below.
US Presidential Candidate Vows to Protect Bitcoin From Government Interference
U.S. presidential candidate Vivek Ramaswamy says the government is “threatened by the existence of Bitcoin,” emphasizing that if the cryptocurrency becomes more popular, it would create “a threat to the incumbent status of the U.S. Federal Reserve itself.” He promised to ensure the government is “staying the heck out of the business of those who are innovating” if he’s elected president.
Vivek Ramaswamy: Government Threatened by the Existence of Bitcoin
U.S. presidential candidate Vivek Ramaswamy discussed a number of topics, including Bitcoin, in an interview with Natalie Brunell, published this week. He also recently revealed his crypto policy framework.
“My view on the promise of Bitcoin … is an opt-out from the broken financial architecture created by the U.S. Federal Reserve System,” he began. While emphasizing that he wants to “fight for the dollar to remain the reserve currency of the world,” Ramaswamy stressed that there are two ways of doing it. “One is if you are really insecure about your own value proposition, you may try to smash out the competition,” he said, adding:
I look at it the other way. I think the existence of Bitcoin hold the dollar’s feet to the fire to make sure that it can’t be manipulated in a way that people don’t just opt out and go to the other direction.
“My view is I’m against corporatism which is the merger of state power and private power to together coordinate and do what can’t be done,” he detailed. “I, instead, have a different vision, which is the government should get the hell out of the hair of Bitcoiners.” He emphasized: “It’s not how do we integrate. It’s how do you actually realize the initial promise of being an alternative Wild West that’s a true frontier for pioneers and explorers without being constrained.”
Ramaswamy continued: “Look at the Biden administration’s differential rules or regulations or proposed regulations from an energy perspective.” He explained that a lot of activities related to “the climate change agenda” have “nothing to do with the energy.”
He warned: “That’s just the excuse they are using. Part of this is they want to create a surveillance state … to be able to monitor how you are using your energy. If they can monitor that, they can monitor anything.” Moreover, Ramaswamy stated:
They’re threatened by the existence of Bitcoin. They don’t want people mining for more bitcoin because that would make Bitcoin more popular which in turn you know creates a threat to the incumbent status of the U.S. Federal Reserve itself.
We Need ‘True Competition Where Government Stays the Heck out of the Way’
Emphasizing that the job of the U.S. government is to stay away, the presidential hopeful detailed: “I would say this to the Bitcoiners out there in the entire community. Be very wary of saying: ‘Hey what can the government do to help us?’ No! keep the government the hell away from whatever it is you want to do that’s a good thing.”
He added, “I think it is good to decentralize power away from the federal government. That’s what the founding fathers envisioned,” elaborating:
My job should be to make sure the government is staying the heck out of the business of those who are innovating and pioneering in different spheres in their own right, financial system included … I actually think that what we need is true competition where the government stays the heck out of the way.
“That’s the way I look at this rather than saying: ‘Hey how do we all work together to create a vision of the great reset where we dissolve the boundaries between the public and private sector to have a hunky dory vision for the future of Humanity,’” he concluded.
What do you think about the statements by U.S. presidential candidate Vivek Ramaswamy about bitcoin and the government’s role in crypto regulation? Let us know in the comments section below.
Robert Kiyosaki: Fiat Money Isn’t Safe, Investors Must Protect Themselves From Central Bankers
Rich Dad Poor Dad author Robert Kiyosaki has cautioned that fiat money is not safe, emphasizing that central banks are buying gold to save themselves. He urged investors to safeguard themselves against central bankers and reiterated his advice to invest in gold, silver, and bitcoin.
Is Fiat Money Safe? Robert Kiyosaki Says ‘Hell No’
The author of Rich Dad Poor Dad, Robert Kiyosaki, has urged investors to protect themselves from central bankers, emphasizing that fiat money is not safe. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
The famous author wrote on X Saturday:
Central banks like Fed are buying gold. Does this mean fiat money is safe? Hell no!
“Central bankers are saving themselves from their own incompetence, that’s why they buy gold. Their job is to protect the banks not you. Get smart. Protect yourself from central bankers: Save gold, silver, bitcoin,” Kiyosaki advised.
Central banks around the world maintained their appetite for gold in the third quarter, with purchases totaling 337 metric tons, according to the World Gold Council. This surge in buying has propelled year-to-date purchases to a record high of 800 metric tons.
Kiyosaki has consistently issued warnings regarding fiat currencies, referring to them as “fake money.” In contrast, he calls gold and silver “God’s money” and considers bitcoin as “people’s money.” In September, he said “crypto is the future,” noting that fiat money is “toast.” He has urged investors to get into gold, silver, and bitcoin as soon as possible.
The renowned author has also repeatedly warned about the demise of the U.S. dollar. He blames the Federal Reserve for causing inflation and collapsing the U.S. economy. In July, he predicted that the end of the USD is near. In April, he said America is dying, warning of the impending death of the U.S. dollar. Moreover, he expects BTC to become priceless when the Fed starts issuing a central bank digital currency (CBDC).
Do you agree with Rich Dad Poor Dad author Robert Kiyosaki that fiat money is not safe? Let us know in the comments section below.