Bitcoin Should be Part of Your Retirement Plan, Says Scaramucci

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Former White House Chief of Communications, Anthony Scaramucci, continues to tout cryptocurrencies as an integral part of people’s financial future.

Anthony Scaramucci has been a proponent of digital currencies for a while now, specifically bitcoin (BTC). In a recent interview with 401K Specialist magazine, he doubled down on his push for Americans to invest sooner rather than later in the world’s most popular digital currency.

While Scaramucci does warn that investing in such a volatile currency should be done in “bite-size, digestible chunks,” he firmly believes that bitcoin should be part of people’s retirement plans. Even if it is just a small amount. In fact, the volatility of digital currencies is exactly why he believes in investing in bitcoin. The co-founder of SkyBridge Capital said that:

“People can trade within their 401k without tax consequences. If we’re right about bitcoin and I was your financial advisor, I would tell you that over the next 100 years, this is the technology that people are going to use for a large swath of commerce on the planet.”

Continue reading at finance.yahoo.com

Bitcoin Vs. Ethereum: A Technical Performance Comparison

bitcoin-ethereum

The entire crypto market saw a crash last week and both of these cryptocurrencies took a hit. Below is a comparison of the charts over the past month.

Bitcoin Daily Chart Analysis:

  • Bitcoin was unable to break out of the ascending triangle pattern. It saw a large dump after it was unable to cross above the $60,000 level.
  • Bitcoin is trading below both the 50-day moving average (green) and the 200-day moving average (blue), indicating the sentiment has been bearish.
  • Each of these moving averages may hold as an area of resistance on the chart.

Continue reading at benzinga.com

Banks say they are ready to integrate cryptocurrency into their financial products

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US banks may soon give their customers to buy cryptocurrencies – Gecko

The New York Digital Investment Group (NYDIG) is a financial service dedicated to financial services Bitcoin. It has partnered with global banking technology solutions group Fidelity National Information Service (FIS) to provide and provide guidance to US banks seeking to offer exchange services.

When asked by the American channel CNBC on Wednesday, Patrick Sell, director of banking solutions for NYDIG, said that many small banks had already signed up for the program, but also that the firm was in contact with large institutions . Actually, according to him, big banks prefer JP Morgan Or Bank of America, previously reluctant to bitcoin, may change its mind if the adoption of cryptocurrency trading proves successful for small banks.

More and more US banks’ increasing interest in access to crypto-assets can be explained by the success of exchange platforms Robin Hood Or Coinbase, the latter recently went public with flying colors. The amount of money deposited in the accounts of these platforms is staggering. Some 9.5 million Americans have traded cryptocurrency on the Robinhood platform since the beginning of the year and Coinbase deployed in Q20 2021 has revenue of $ 765 million. According to NYDIG President Yan Zhao, banks want a piece of the pie: “It’s not just banks that think their customers want bitcoin, they say: We have to do it, because we see the numbers.” They see deposits known in the world’s Coinbases, Galaxies and Krakens“.

Continue reading at sproutwired.com

Bitcoin Could Be Getting Ready to Jump Again, Analysts Say

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Bitcoin – the world’s biggest and most popular cryptocurrency by market cap – is shooting back up. At the time of writing, the asset is trading for just over $57,000. This is a huge improvement over the $54,000 it was at a few days ago and the $49,000 per unit it was stuck at early last week.

Bitcoin May Grow Again Soon

For the most part, it was believed that bitcoin would likely continue its bullish patterns into the month of May, though thus far, this period is proving to be far more volatile than analysts thought. Nate Cox – chief investment officer of digital assets at Two Prime – explained in a recent interview:

Bitcoin did not move the way many derivative traders expected this month.

Steve Ehrlich – chief executive of Voyager Digital – echoed this sentiment but commented that this could potentially lead into something bigger. He says that a drop of this sort in the past has usually led to heavily bullish behavior, suggesting that bitcoin could be on a route to reach new all-time highs over the summer.

Continue reading at livebitcoinnews.com

‘Digital gold’: Visa bets big on cryptocurrency

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Visa CEO Al Kelly detailed the card brand's push to take advantage of trends such as central bank digital currencies and financial inclusion.

Visa is working with central banks on CBDC policy and is advocating for public-private partnerships to support CBDCs, a model that many digital currency experts believe will be the prevailing model, particularly given the complex work required to digitize currency in different nations. Visa has filed a patent application for technology that would support connections between financial institutions and central banks.

"Central bank digital currencies could end up being quite valuable in countries where the infrastructure is unavailable or limited," Kelly, who is also Visa's chairman, said during the company's earnings call. He estimated there's an addressable market of more than 1.7 billion consumers that could be reached and suggesting there's space to expand its work with government clients.

Continue reading at americanbanker.com

Bitcoin at Inflection Point Amid Recent Selloff, Technicals Show

Bitcoin is facing a make-or-break moment following a recent bout of selling, according to technical analysis.

Though the cryptocurrency has rebounded above its average price over the past 100 days, it’s still trading below its 50-day moving average. Such a dynamic typically indicates an asset is nearing an inflection point. If Bitcoin can’t overtake its 50-day mean -- which currently sits at about $57,042 -- then it might be in for a period of volatility as the gap between the two trend lines converges. Technical indicators suggest breaking out might not be an easy feat -- Bitcoin failed to do so on several occasions last week.

Trading in the world’s largest digital asset has been choppy in recent days after it hit a record high in mid-April above $64,000. It’s down more than 15% since then, though it rebounded earlier this week amid positive news, including comments from Tesla Inc.’s chief financial officer that reiterated the company’s commitment to the cryptocurrency.

Continue reading at bloomberg.com

Bitcoin bottomed after a textbook 20% selloff, and a new uptrend is likely underway, Fundstrat’s Tom Lee says

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Bitcoin's recent sell-off looks to have found support and a new uptrend is "likely underway," Fundstrat's Tom Lee said in a note on Wednesday.

The most valuable cryptocurrency sold off more than 20% in recent weeks after topping out just below $65,000 amid the Coinbase IPO. Bitcoin broke below $50,000, which represents a key psychological level for investors, but has since recovered and is trading near $55,000 as of Wednesday afternoon.

Now, bitcoin has found support near $47,000, which coincided with a "9" count buy signal generated by the DeMark indicator. This counter-trend indicator, created by Tom DeMark, helps measure price exhaustion in securities.

Traders should look for bitcoin to move above $62,000 to affirm that the sell-off is over, according to Lee.

Continue reading at businessinsider.com

European Central Bank Points To Privacy As Pivotal In eMoney Future

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What people want most from digital currency is privacy, the European Central Bank (ECB) said in its report from public consultations about the possibility of a central bank coin.

The ECB said that 43 percent of the respondents pointed to anonymity as a main requirement for any digital currency. People also stated that any digital euro should also be integrated with the methods and resources already being used for payments and other financial services. 

Further, citizens and businesses answering the survey indicated that they want a no-fee solution in addition to security, usability, and non-digital use. The ECB is still in the research stages of deciding whether it makes sense to pursue eCurrency. 

The public consultation — conducted from October 2020 until January of this year — is just one step in determining what will work for consumers and businesses alike. About 25 percent of respondents also said they believed that a digital euro should advance cross-border payments, and make the transactions fast, seamless, and less expensive.

The ECB is just one of many central banks worldwide looking into launching digital currency that would be on par with cryptocurrencies like bitcoin but also more usable and predictable.

Continue reading at pymnts.com

Tesla urged to review its payment practices after two Australian buyers lose thousands to scammers

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When Andrea Hammond decided to buy a Tesla 3 electric vehicle, her choice was not about the car's slick design or prestige badge.

"Spending that amount of money was not an easy decision, but my commitment to wanting to drive without polluting the atmosphere was my motivation," she said.

"The Tesla cars seemed to stack up in terms of being a car that I could drive for the rest of my days."

At first, the process of buying a Tesla seemed as modern as the car itself.

Continue reading at abc.net.au

Coinbase, A Bitcoin Startup, Goes Public. Is Crypto Really The ‘Future Of Finance’?

Coinbase, a San Francisco startup that allows people to buy and sell digital currency, became the first major cryptocurrency company to go public when it made its stock market debut on Wednesday.

Trading began around $381 a share, pushing the company's valuation close to $100 billion. That's about what Facebook was worth when it had its initial public offering in 2012.

Coinbase's listing on the Nasdaq under the ticker symbol "COIN" was heralded by enthusiasts as a turning point for once-obscure digital currencies.

"Today was a landmark moment," said cryptocurrency investor Ian Lee. "Crypto is the future of finance."

Bradley Tusk, a political consultant and venture capitalist who financially backed Coinbase, said the company's public offering shows that more Wall Street banks and other traditional investors are warming up to the idea of cryptocurrency.

Read more at mainepublic.org