Monat: Dezember 2020

Tezos (XTZ) continues to consolidate above long term support

The XTZ follows a long term ascending support line.

Technical indicators are neutral

The XTZ / BTC pair is moving near its lowest level to date, at 9500 satoshis.

Tezos (XTZ) price consolidates above a line and long term support zone. However, there are no signs of a bullish reversal that suggest an upward movement will follow once this consolidation is over.

The Bitcoin Bank has been following an ascending support line since February 2019, when it was trading at $ 0.34. It is currently approaching this line for the fourth time.

Moreover, this line coincides with the support zone of $ 1.80, above which it is moving after breaking it in March

Technical indicators are neutral and provide mixed signals. While the RSI has fallen below the 50 line and has validated it as resistance (red arrow below), the MACD is still above 50 and the Stochastic Oscillator is rising.

Either way, the trend is probably bullish as long as the price moves above this line / support area.

The daily chart does not clearly determine the direction of the trend.

The XTZ has clearly rebounded to the fibonacci support level 0.786 to $ 1.67, but technical indicators are ambiguous. The RSI moves above and below 50, indicating a consolidation. The MACD and the Stochastic Oscillator are showing no signs of confirmation.

Cryptocurrency trader @TheEurosniper shared a chart of the XTZ / BTC pair which shows the price has deviated below the lower end of its range. Once he has returned to the lower end of his range, the trader expects a considerable upward movement.

It is indeed true that the XTZ is trading very close to its maximum low to date, at 9500 satoshis. It reached its lowest level, at 7,520 satoshis, in June 2019.

However, there are no signs of a reversal despite indicators showing the rally is oversold, so there is a possibility that the XTZ will continue to fall.

The closest resistance zone is at 15,000 satoshis.

PayPal-sjef Dan Schulman forteller Web Summit ‚Time Is Now‘ for Crypto

PayPal (PYPL) administrerende direktør og president Dan Schulman gikk på scenen den første dagen av det store Web Summit-arrangementet onsdag og fortalte de anslåtte 100 000 deltakerne at for kryptovaluta „tiden er nå.“

Intervjuet av New York Times spaltist Andrew Ross-Sorkin for online 2020-teknologikonferansen, forventet Schulman at digitale valutaer snart skulle komme inn i mainstream og bli et daglig betalingsverktøy. Den globale koronaviruspandemien har akselerert forskjellige trender, slik som at forbrukere „forlater kontanter,“ sa han.

Coronavirus-pandemien “har trukket disse trendene fremover mellom tre til fem år [og] fem til seks måneder,” ifølge Schulman.

Han fortsatte:

„Jeg tror at hvis du kan lage et finansielt system, en ny og moderne teknologi som er raskere, som er billigere, mer effektiv, er det bra for å bringe flere mennesker inn i systemet, for inkludering, for å bidra til å redusere kostnadene, for å hjelpe drive økonomisk helse for så mange mennesker … Så i det lange løp er jeg veldig bullish på digitale valutaer av alle slag. „

PayPal kunngjorde i oktober at de vil begynne å tillate brukere å handle med kryptokurrency som et finansieringsinstrument for 28 millioner selgere tidlig neste år. Selskapet tillater allerede kunder å kjøpe, selge og holde kryptokurver i PayPal-lommeboken, og begynte i USA. Schulman sa at selskapet på forhånd gjennomførte markedsundersøkelser som viste at 54% av PayPal-basen ønsket kryptotilbudene.

“Da vi tenkte på det, er digitale lommebøker et naturlig supplement til digitale valutaer. Vi har over 360 millioner digitale lommebøker, og vi må omfavne kryptovalutaer, sier PayPal-sjefen.

Bitcoin (BTC, +0,93%) ’s volatilitet hadde tidligere vært Schulmans primære bekymring, og fikk ham til å betrakte det som en „dårlig form for valuta“ med potensial til å utslette fortjeneste for små kjøpmenn. For å takle dette problemet, vil PayPal tillate forbrukere å vite den eksakte valutakursen for krypto i øyeblikket av et kjøp, og fjerne volatilitetsrisikoen.

„Det styrker nytteverdien til den underliggende kryptovalutaen, og du kan gjøre mer med det enn å bare kjøre opp og ned på den,“ sa han. „I virkeligheten tar du det som et instrument som kan drive handel hos våre 28 millioner selgere.“

Schulman fikk med seg sesjonen av EU-kommisjonens president Ursula von der Leyen, Facebook CTO Mike Schroepfer og Dallas Mavericks eier Mark Cuban.

The European Central Bank’s digital euro: an assessment

The European Central Bank (ECB) communicated its first assessment of the digital euro a few weeks ago. In the report published on this, the ECB gives first insights into its ideas about the digital euro. In this guest contribution, Jonas Groß, Philipp Sandner and Alexander Bechtel evaluate the ECB’s report and discuss its three most important aspects.

In October the European Central Bank (ECB) published its long-awaited “ report“to the digital euro, a digital central bank currency (CBDC) for the euro area

The ECB addresses the issue of the “digital euro” from the perspective of its mandate. The main intention of the ECB is to create a digital form of cash for European citizens and not a programmed form of the euro for European industry. However, looking at the ECB’s analysis, it becomes clear that the digital euro outlined by the ECB is not a digital variant of cash. The ECB is currently still keeping an open question as to whether the digital euro will be token-based, non-interest-bearing and anonymous – all of which are key features of cash.

In its report, the ECB emphasizes that it has not yet decided whether a digital euro will actually be introduced. At the same time, however, the central bank stressed that it was ready to introduce a digital euro “if the need arises”. The Profit Revolution defines the following scenarios from which the need for a digital euro could arise:

Firstly, the digitization of the European economy should be supported.

Second, a digital euro could be a response to a significant decline in the use of cash as a means of payment

Third, a digital euro could be required to reduce reliance on foreign CBDCs or private digital coins such as Libra, China’s DC / EP, or a US CBDC.

Fourth, a digital euro could open up a new transmission channel for monetary policy.

Fifth, a digital euro could increase the resilience of digital payments so that a hacker attack, natural disaster, pandemic or other extreme event would not restrict the provision of payment services.

In addition to these scenarios, the ECB is also discussing risks that could arise from a digital euro, for example in relation to financial stability, regulation, IT security, capital flows and the euro exchange rate. The ECB emphasizes that such risks must be adequately addressed and therefore stipulates requirements that a digital euro must meet in order to counteract such risks.

Präsentiert von WordPress & Theme erstellt von Anders Norén