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NewsBTC: TA: Bitcoin Trims Gains, Why 100 SMA Could Trigger Fresh Increase

Bitcoin struggled above the $21,500 resistance zone against the US Dollar. BTC is trimming gains and might find support near the 100 hourly SMA. Bitcoin climbed above the $21,500 level before it faced sellers. The price is now above the $20,000 level and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $21,175 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could find bids near the $20,000 zone or the 100 hourly simple moving average. Bitcoin Price Dips Bitcoin price started an upside correction... Goldman Sachs Sees Higher US Recession Risk Citing Concerns the Fed Will ‘Respond Forcefully’ to High Inflation

Goldman Sachs’ economists now see an increased risk of a U.S. recession. “We are increasingly concerned that the Fed will feel compelled to respond forcefully to high headline inflation and consumer inflation expectations if energy prices rise further, even if activity slows sharply,” they explained. Goldman Sachs on Increased Risk of Recession Goldman Sachs’ economists,

NewsBTC: XRP At $0.31, Will It Climb On The Upside?

XRP was consolidating between $0.24 and $0.33 for the last one week. The altcoin registered an upside over the last 24 hours. XRP registered demand which caused the coin to witness recovery on its chart. The cryptocurrency market also registered an overall rise in prices as buyers were slowly re-entering the market. The broader market despite increase in price is still in a fragile, hence it is difficult to ascertain whether XRP will continue its bullish stride in the long term. At the current moment, XRP has secured the support level of $0.30. As price of XRP has constantly seen...

NewsBTC: Gold Proves To Be A Safe Haven Asset Amid Bitcoin Crash

The advantages of holding bitcoin over gold have been publicized and debated countless times. These two digital assets, one a physical asset and the other referred to as the “digital gold”, have both gone head-to-head when it comes to which one is the better store of value. As the bitcoin crash raged on last week, the discussion is once again being had about the merits of holding a relatively stable asset such as gold compared to a volatile one such as bitcoin. Gold Provides Cover Over the past week, the price of bitcoin had declined more than 30%. This had...

NewsBTC: Controlling The Chaos: FTX Exchange Bails Out BlockFi With $250M

Is FTX saving the crypto industry or taking control of it? The derivatives-focused cryptocurrency exchange has been on the sidelines, watching everything around them collapse, and finally decided to take action. That or, as the rumor says, FTX created this whole situation in their labs and is now buying assets on the cheap. There’s only circumstantial evidence of that, though. The bailout, on the other hand, is completely real.  The proceeds of the credit facility are intended to be contractually subordinate to all client balances across all account types (BIA, BPY & loan collateral) and will be used as needed....