Walmart plans to eventually install 8,000 Bitcoin ATMs in the U.S. and has installed 200 in a pilot program. Walmart has partnered with coin-cashing machine company Coinstar and crypto-cash exchange CoinMe to install 200 Bitcoin ATMs in its stores across the U.S. Although the pilot includes only 200 kiosks, the broader launch plans to eventually see the installation of 8,000 bitcoin ATMs across the country, according to Bloomberg. There has been no further details on timelines as of yet. According to Coin ATM Radar, there are currently over 25,000 bitcoin ATMs at select grocery stores and service stations in the U.S. Coinstar operates 4,400 kiosks enabled for Bitcoin purchases, across 33 states. Chief strategy officer and head of research at BitOoda Sam Doctor told Bloomberg that while Bitcoin ATMs aren’t a new development, and can already be found at many supermarkets: “Walmart expands Bitcoin access to more people, though, and gives it further legitimacy among skeptics, should they roll it out beyond an initial pilot.”
October 21, 2021
Bitcoin continues to grow. The asset is close to the $60,000 mark. From there, it is not far from the all-time high, just below $65,000. After a strong breakout of the downtrend line, BTC is consolidating, forming a flag pattern. Local support for the whole last week has been the level of $54,000. Arcane Research analysts believe the current rally is driven and supported by increased open interest in bitcoin futures on the CME. The indicator increased in two weeks from 12% to 17% and equaled the data for February. Many on-chain metrics also confirm the increased interest in Bitcoin. For example, the aggregate daily transaction volume in the bitcoin network set a new record of $31 billion. Many market participants are determined to continue the current trend and renew the historical maximum. Some analysts believe that Bitcoin will hit the psychological $100,000 mark this winter. Cryptocurrency market capitalization has grown over the week from $2.3 to $2.4 trillion. The daily trade turnover is almost $110 billion. Not all altcoins have grown with the leading cryptocurrency. This caused an increase in BTC domination from 44.0% to 45.1%. The Fear and Greed Index slightly decreased. It moved to the state of Greed around 70 points. If we talk about retail traders, most of them believe in a short-term reversal and a fall in bitcoin. This is evidenced by the ratio of Long and Short positions on the main CEX.
October 20, 2021
The ProShares Bitcoin Strategy ETF, the first Bitcoin-linked ETF in the US, made a historic debut yesterday, becoming the second most traded debut fund of all time. The launch of the ETF helped Bitcoin, the king of cryptocurrencies, fly past the $63,000 mark. The launch of BITO, the ticker of the Bitcoin ETF, came only seconds after the BlackRock carbon fund and jumped 4.9%. Nearly 24 million shares of the fund were traded. For years, cryptocurrency supporters had been eagerly awaiting the launch of a Bitcoin-linked ETF, and had been debating its utility with regulators. The ETF is expected to open up digital coins to large investors, hastening the adoption of cryptocurrencies.
October 19, 2021
Today is the day that crypto traders have so eagerly been waiting for, as the ProShares Bitcoin Strategy ETF is now ready to invest in bitcoin futures and, according to preliminary disclosure, will be traded on the Chicago Mercantile Exchange (CME). In July, Profunds launched a mutual fund based on bitcoin futures. Many investors, however, believe that demand for bitcoin futures will be lower than expected, as was the case when bitcoin futures were listed on CME in 2017 and Coinbase was listed on the Nasdaq index. Having said that, it is unlikely that markets will experience a selloff similar to the one before because markets have evolved, and individuals now have a better understanding of how digital assets could benefit traditional finance.
October 18, 2021
Crypto bulls have been driving Bitcoin prices up in recent days, and on Friday they shattered the $60,000 level on hopes that US regulators are on the verge of approving a futures-based exchange-traded fund (ETF). Such an ETF will pave the way for greater adoption and investment in the digital sector. Investors have been waiting for the Securities and Exchange Commission (SEC) to make a decision on an ETF, and the first American Bitcoin futures ETF is expected to begin trading this week. A product like this will provide traders with another way to gain exposure to the trillion-dollar digital sector. Because of the high demand for a Bitcoin ETF, its creation is inevitable. Furthermore, officials and regulators now have a better understanding of the mechanics of cryptocurrencies than ever before, and the SEC is beginning to make sense of how digital money is reconciled, stored, and secured. As a result, it can now see how these assets can aid in the transition of traditional finance to the next level.
October 15, 2021
Solana (SOL) broke below the 50-day SMA ($144) on Oct. 12 but bears could not capitalize on this weakness. The bulls bought the dip aggressively and pushed the price back to the 20-day EMA ($151) on the same day. The SOL/USDT pair rose modestly above the 20-day EMA today but strong selling by the bears has pulled the price back to the 50-day SMA. If bears sink and sustain the price below the 50-day SMA, the decline could extend to $116. This negative view will invalidate if the price turns up from the current level and breaks above the downtrend line. The pair could then climb to the 61.8% Fibonacci retracement level at $177.80. A break and close above this level could pave the way for a rally to $200.
October 15, 2021
Ripple (XRP) bounced off the 20-day EMA ($1.06) on Oct. 12 but the bulls are finding it difficult to sustain the price above the 50-day simple moving average ($1.08). This suggests a lack of buyers at higher levels. If bears sink and sustain the price below the 20-day EMA, the XRP/USDT pair could drop to the psychological support at $1. A break and close below this level could intensify selling and sink the pair to $0.85. Conversely, if the price rises from the current level, the bulls will make one more attempt to push the price above the overhead resistance at $1.24. If they manage to do that, the pair could rally to $1.41.
October 14, 2021
Cardano (ADA) broke and closed below the support line of the symmetrical triangle on Oct. 12. This suggests that the uncertainty of the past few days has resolved in favor of the bears. The bulls will try to push the price back above the 20-day EMA ($2.21) but if they fail, the ADA/USDT pair could drop to $1.87. This is a critical level to monitor because if it breaks down, the decline may extend to $1.63. The 20-day EMA has started to turn down and the RSI has dropped below 44, indicating advantage to bears. This negative perspective will be invalidated if bulls push and sustain the pair above the resistance line of the triangle.
October 14, 2021
Binance Coin (BNB) broke and closed below the 20-day EMA ($417) on Oct. 10 but the bears could not build on this advantage. The bulls defended the psychological support at $400 and pushed the price back above the 20-day EMA on Oct. 11. Although bears pulled the price below $400 on Oct. 12, the move appears to have been a bear trap because the BNB/USDT pair recovered quickly and rebounded to the neckline. The buyers pushed the price above the neckline on Oct. 13. The bullish inverse H&S pattern will complete if the pair closes above the neckline. This setup could start an up-move to $519.90 where heavy opposition is expected. A break and close above this level could propel the pair to the pattern target at $554. The bears will have to pull the price below $392.20 to gain the upper hand.
October 14, 2021
Ether (ETH) has rebounded off the 20-day EMA ($3,390) for the past three days, indicating that bulls are accumulating on dips. The bulls will now try to push the price to the neckline of the inverse head and shoulders (H&S) pattern. A breakout and close above the neckline will complete the bullish setup, which has a target objective of $4,657. The gradually rising 20-day EMA and the RSI above 55 indicate a modest advantage to the bulls. However, the rally may not be linear as the ETH/USDT pair could face stiff resistance at $4,027.88 and later at $4,372.72. Contrary to this assumption, if the price turns down from the current level or the neckline and breaks below the moving averages, the ETH/USDT pair could drop to $3,160 and later to the psychological support at $3,000.
October 14, 2021
Bitcoin has never managed a weekly close above $60,000, and failing to do so again risks a reversal downhill, a new warning says. Bitcoin (BTC) challenged brand-new support levels on Oct. 14 after overnight successes took the market past $58,000. Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it reversed towards $57,000 after hitting highs of $58,540 on Bitstamp. The moves mimicked the first time Bitcoin had attacked $58,000 in February - several attempts interspersed by consolidation, followed ultimately by a run to April's all-time highs. Despite on-chain indicators showing that Bitcoin is a different beast in Q4, however, the mood was just as bullish this time around. "Bitcoin is most likely just continuing this grind towards the all-time highs," Cointelegraph contributor Michaël van de Poppe wrote in his latest Twitter update. "Great bounce from $54K. Highly doubt we'll see a retest at $50K happening." Cementing $50,000 as support - albeit for a second time in 2021 - would form a clear signal on the market trajectory as pundits gear up for what they expect to be an explosive end to the year. For trader and analyst Rekt Capital, however, there was potential cause for concern this week. Zooming out, BTC/USD has failed to close a weekly candle above $60,000, and a repeat performance could likewise spell a copycat correction. That leaves bulls until Sunday to crack a historical watermark, something which may still be helped before Monday's approval decision on a futures-based exchange-traded fund (ETF). Altcoins meanwhile saw brief respite from weakness in the face of "Bitcoin Season."
October 13, 2021
Ripple and Nelnet launch $44M fund for carbon-negative crypto industry. Ripple has contributed the majority of a $44-million fund to support solar energy projects across the United States. Blockchain payments firm Ripple has announced a $44-million environmental, social and governance (ESG) joint venture partnership with fintech provider Nelnet Renewable Energy to fund the adoption of environmentally conscious solar energy initiatives across the United States. According to the announcement, the new fund is expected to offset over 1.5 million tons of carbon dioxide over 35 years, equivalent to the energy usage of 180,635 homes for one annum. In March 2021, Nelnet Inc. received a commendable E1 ESG accreditation from the S&P Global Ratings evaluation board for the former’s $9.9-million solar tax equity fund. The project entails the financial backing to build four photovoltaic solar projects in Upstate New York. The evaluation was assessed across three parameters of environmental priorities: transparency, governance and mitigation, for which the project scored 88, 86 and 80, respectively, out of a maximum of 100.
October 13, 2021
BTC price rejected near $58,000, but derivatives data shows traders positioned neutral-to-bullish, leaving sufficient “room” for a new all-time high in 2021. Bitcoin had been underperforming against most altcoins ov the past two months, but that trend reversed when its 20% rally pushed its market capitalization to break the $1 trillion mark on Oct. 6. That shifted investors’ attention back to the leading cryptocurrency, and altcoins are currently in the red for the day. The current positive momentum could be dangerous if Bitcoin (BTC) traders become overconfident and abuse leverage to open long positions. To avoid this, traders need to carefully analyze derivatives markets to exclude this risk. Notice above how the altcoin market capitalization increased by 5.8%, while Bitcoin posted a 20.8% gain in the same period. Sure enough, there were some outliers such as Shiba Inu (SHIB), which rose by 200%, Fantom (FTM), which rallied 60%, and Klaytn (KLAY), which gained 36%. However, the aggregate market capitalization from altcoins did not accompany Bitcoin’s performance. Some well-known personalities have spoken up, such as billionaire Wall Street investor Bill Miller, who recently expressed his optimism for Bitcoin while raising concerns regarding most altcoin projects. Miller explicitly mentioned the “big banks” getting involved and referred to “huge amounts” of venture capital money flowing into Bitcoin. The recent Bitcoin frenzy seems driven by the macroeconomic scenario. The United States increased its debt limit by $480 billion to pay off its obligations until early December. The inflationary pressure brought by unending stimulus packages and meager interest rates has been fueling the long rally in commodities.
October 12, 2021
Bitcoin, the benchmark of cryptocurrencies, came in blazing through the $57,000 mark, a level not seen since May as investors applaud the digital coin’s performance and bet that the notorious asset will likely test record highs soon. Bitcoin rose as much as 4.3% on Monday and is currently hovering around the $57,000 price level. Earlier in 2021, in April, its price touched $65,000. The Bloomberg Galaxy Crypto Index, a product measuring the performance of cryptocurrncies, jumped nearly 2.4% yesterday. A couple of reasons are deemed to be behind the recent surge in crypto prices. Over the last few weeks, regulatory crackdowns on the digital sector have been on the decline, both in the U.S. and China. Moreover, optimism is also on the rise as the U.S. Securities and Exchange Commission is expected to grant consent to a Bitcoin exchange-traded fund. Similarly, investors are also anticipating that Bitcoin futures ETF may be on the horizon after SEC chair Gary Gensler hinted that he was open to a fund exclusively focused on crypto derivatives.
October 11, 2021
Monero (XMR) rose above the 50-day SMA ($271) on Oct. 5 and reached the downtrend line on Oct. 6. The bears are aggressively defending the downtrend line for the past few days but a minor positive is that bulls have not allowed the price to dip back below the 50-day SMA. The 20-day EMA ($263) is sloping up gradually and the RSI is in the positive zone, indicating a minor advantage to buyers. A break and close above the psychological mark at $300 could open the doors for an up-move to $325 and then to $339.70. On the contrary, if the price turns down and breaks below the 20-day EMA, it will suggest that short-term traders may have dumped their positions. That could pull the price down to $250 and later to $225. The bulls have repeatedly pushed the price above the downtrend line but the bears have not allowed the pair to sustain above it. The 20-EMA has flattened out and the RSI is close to the center, suggesting a balance between supply and demand. If the price breaks below the 50-SMA, the short-term bulls may rush to the exit. That could pull the price down to $260 and next to $250. Conversely, if bulls push the price above $286.8, the pair could rise to $296.80. The bullish momentum may pick up if bulls thrust the price above this resistance.
October 11, 2021
Chainlink (LINK) broke above the downtrend line on Oct. 1, but the bulls have not been able to capitalize on this move. The altcoin has been stuck in a tight range between $25.20 and $26.19 for the past few days. Both moving averages are flat and the RSI has been trading just above the midpoint, suggesting a balance between supply and demand. This equilibrium will tilt in favor of buyers if the price breaks and closes above $28.19. The LINK/USDT pair could then rally to $32.11 and later challenge the stiff overhead resistance at $35.33. Alternatively, a break and close below $25.20 could signal that supply exceeds demand. The pair could then drop to the $22 to $20.82 support zone. The price turned down from the overhead resistance and bears have pulled the price below the moving averages. If sellers sustain the lower levels, the pair could drop to the support at $25.20. A break below this level could signal that bears are back in command. Conversely, if the price turns up from the current level and rises back above the moving averages, it will suggest that traders are buying on dips. The bulls will have to push and sustain the price above $28.19 to signal that they are back in the driver’s seat. Thereafter, the pair could rally to $32.11.
October 10, 2021
Uniswap (UNI) has been holding above the 20-day EMA (24.55) for the past few days, which shows that bulls are trying to defend this support. However, the bears are in no mood to relent as they have not allowed the price to rise above the neckline. The buyers will have to push and close the price above the neckline to complete an inverse H&S pattern. This bullish reversal setup has a pattern target at $36.98 but the rally may not be linear as bears will try to defend the level at $31.41. The 20-day EMA is gradually rising and the RSI is just above the midpoint, suggesting that bulls have a slight edge. This advantage will be lost if the price breaks and closes below the 20-day EMA. In such a case, the UNI/USDT pair could drop to $22. This level may act as a support but if bears sink the price below it, the pair could extend the decline to $17.73. The 4-hour chart shows that the price has roughly been consolidating in a tight range between $24 and $26 for some time. Usually, such tight ranges result in the start of a directional move. If buyers drive and sustain the price above $26, the possibility of a break above the neckline increases. That could start the march toward the next overhead resistance at $30 and then to $31. On the other hand, if the price breaks below $24, the short-term trend may turn in favor of bears. The pair could then drop to $22.
October 9, 2021
Polkadot (DOT) has been gradually moving higher toward the overhead resistance at $38.77. The RSI has broken out of the downtrend line and the 20-day EMA ($32.15) has started to turn up, indicating an advantage to buyers. If bulls thrust the price above $38.77, it will invalidate the head and shoulders pattern. The failure of a bearish setup is a bullish sign as it may trap the aggressive bears who then try to cover their positions, resulting in a short-squeeze. The DOT/USDT pair could then start its journey toward $49.78. Alternatively, if the price turns down from the current level or the overhead resistance and breaks below the moving averages, the pair could drop to $28.60. A bounce off this support could keep the pair range-bound for a few days. The bears will have to pull the price below the neckline to signal their supremacy. Both moving averages are sloping up and the RSI is in the positive territory, suggesting that buyers are in control. The pair could drop to the 20-EMA, which is likely to act as a strong support. If the price turns up from this support, the bulls will try to push the pair to $38.77. This level may again act as a stiff resistance but if bulls do not give up much ground from it, the possibility of a break above it increases. Conversely, if bears pull the price below the 20-EMA, the pair could drop to the 50-SMA. A break and close below this support could result in a decline to $31 and then $29.
October 8, 2021
In the crypto space, we think that Bitcoin prices are likely to move higher and the coming weekend will be an important one once again as the price tends to move higher over the weekend. As for the second biggest coin by market cap, Ethereum. It is highly likely that the price may test the 4K price level, and that may open the door for the price to retest its all-time high, which matters the most. As for Bitcoin, the price level which matters the most is 60K. BTC has tested the 50K price level a few times now, and if the positive momentum continues to support the price action, we could be looking at a healthy weekend for cryptos.
October 7, 2021
Crypto supporters should be jumping with joy after Bitcoin, the benchmark of cryptocurrencies, surpassed $55,000 yesterday, gaining momentum to the rally started earlier this week. Bitcoin is already trading 13% higher this week. On Wednesday, crypto prices likely rose after institutional investors decided to get into the action. The mentality of institutional investors is such that they move along with the herd, fearing that their competitors might perform better, and they may miss out on the opportunity.
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