While Ethereum fell by about two percent but stayed below the $1,800 barrier, Bitcoin experienced some profit booking as it fell by more than one percent while holding roughly 34,000 levels.

After the ticker for BlackRock’s (BLK) spot bitcoin ETF, IBTC, was taken down from the Depository Trust & Clearing Corporation’s (DTCC) website and then added back, the price of bitcoin and other cryptocurrencies fell on Wednesday morning. But profit booked from rash cryptocurrency purchases is nothing new.

Following a robust secular surge, Bitcoin experienced some profit booking. Despite declining more than 1%, the largest cryptocurrency held its ground around roughly 34,000 levels. Ethereum, its biggest rival, saw an almost 2% decline but managed to stay below the $1,800 mark. The majority of altcoins had decreased in value.

Following the unexpected debut of BlackRock’s spot bitcoin ETF (IBTC) ticker on the US Depository Trust & Clearing Corporation website, the value of bitcoin recently surpassed the $35,000 mark. But after the ticker briefly vanished and then reappeared, prices during the previous day stabilised back around $34,000.

Grayscale’s legal victory over the US SEC, in which the DC Circuit Court of Appeals ordered the agency to reevaluate its denial of Grayscale’s spot bitcoin ETF application, may also be connected to this positive trend. Market participants are optimistic that the Bitcoin spot ETF applications will soon be approved due to the combination of these factors.

With a few notable exceptions, the bulk of popular cryptocurrency tokens saw a decline in price on Wednesday. Toncoin, Polygon, Solana, and BNB all saw declines of two percent apiece, while Dogecoin and Polkadot fell by more than three percent each. Chainlink gained more than 11% of the gainers, and XRP gained almost 1%.

The market capitalization of all cryptocurrencies worldwide was trading much lower, dropping to $1.25 trillion after decreasing by almost 1% over the previous day. But at $69.61 billion, the total trading volume fell by more than 13%.

The temporary withdrawal of BlackRock’s (BLK) spot Bitcoin ETF ticker, IBTC, from the Depository Trust & Clearing Corporation (DTCC) website may have contributed to the declines in both Bitcoin (BTC) and Ethereum (ETH) over the last day. It’s crucial to remember, though, that the ticker was relisted a few hours later.

While Ethereum was also seen in red and was slightly lower, it stayed below the $1,800 level. Bitcoin had some profit booking as it dropped more than 1% but was still able to hold around 34,000 levels.

Bitcoin and other crypto took a breather on Friday ahead of the non-event weekend. However, the pause in the digital asset market was on the cards after a sizable rally in the last few days. However, analysts see the buying interest to remain in the digital asset market in the next few days.

Bitcoin saw some profit booking as the largest crypto token declined over a per cent but somehow managed to hold about 34,000-levels. However, its largest peer, Ethereum, was also seen in red, marginally lower, and remained below $1,800-level. Majority of the altcoins were trading with cuts.

The cryptocurrency market appears to be cooling off after a seven-day rise. With a score of 70/100, the cryptocurrency fear and greed index is likewise firmly into the greed zone, indicating bullish feelings among investors in the space. Following the surge, the larger cryptocurrency market appears to be cooling off in lockstep with its reaction.

In other developments, UDPN, a system that allows blockchain, stablecoins, and CBDCs to interact like SWIFT in traditional banking, is being tested by Deutsche Bank and Standard Chartered’s SC Ventures. UDPN integrates digital identification standards, creates a bridge between blockchains, and enables regulated transactions.

With a few notable exceptions, Friday’s trading saw a decline in most popular cryptocurrency tokens. Over 3% fell in Polkadot, while 2% fell in each of Polygon, Chainlink, and Toncoin. Dogecoin had a slight increase, but Solana and BNB added around 1% each among the gainers.

The market capitalization of all cryptocurrencies worldwide was trading much lower, dropping to $1.26 trillion after sliding more than 1% on the previous day. Still, overall trade volumes fell to $46.88 billion, or around 7% less than before.

Bitcoin experienced some profit booking as it fell more than 1% but held above 34,000 levels, while Ethereum fell about 2% but remained around $1,800.

Bitcoin and other cryptocurrencies fell early Wednesday when the ticker for BlackRock’s (BLK) spot bitcoin ETF – IBTC – was withdrawn from the Depository Trust & Clearing Corporation’s (DTCC) website, only to be reinstated later. However, profiting from impulsive crypto purchases is nothing new.

After a strong secular rally, Bitcoin saw some profit booking as the largest crypto token fell more than 1% but managed to stay around 34,000-levels. However, its largest peer, Ethereum, fell nearly 2% but remained below the $1,800 mark. The majority of altcoins were trading at a loss.

Following the sudden debut of BlackRock’s spot bitcoin ETF (IBTC) ticker on the US Depository Trust & Clearing Corporation’s website, Bitcoin’s value recently crossed the $35,000 mark. However, despite the ticker’s brief removal and reappearance, prices have returned to about $34,000 in the last 24 hours.

This positive momentum could also be attributed to Grayscale’s legal victory over the US Securities and Exchange Commission, as the DC Circuit Court of Appeals ordered the SEC to reexamine its denial of Grayscale’s spot bitcoin ETF application. These combined considerations have fueled market players’ excitement regarding the anticipated approval of Bitcoin spot ETF applications.

The bulk of popular crypto coins were trading down on Wednesday, with a few outliers. Dogecoin and Polkadot were both down more than 3%, while Toncoin, Polygon, Solana, and BNB were all down 2%. Among the gainers, Chainlink gained more than 11%, while XRP gained nearly 1%.

The worldwide cryptocurrency market cap was trading much lower, down to $1.25 trillion, after losing approximately 1% in the previous 24 hours. However, total trade volumes fell by more than 13% to $69.61 billion.

Bitcoin (BTC) and Ethereum (ETH) have both fallen in value during the last 24 hours, which could be attributed to the temporary removal of BlackRock’s (BLK) spot Bitcoin ETF ticker, IBTC, from the Depository Trust & Clearing Corporation’s (DTCC) website. It’s worth noting, however, that the ticker was relisted after a few hours.

Both BTC and ETH are currently trading above the 50-day and 200-day Exponential Moving Averages (EMA-D) and are consolidating after their recent upward trend. While ETH must pass a few resistance levels before it can resume its climb, BTC is displaying strength by reaching a 52-week high.

Quick analysis of cryptocurrency prices on October 16: The value of the world market fell to $1.25 trillion.

After breaking through the $34,000 barrier yesterday, Bitcoin (BTC) was able to maintain its new high early on Wednesday morning. Nevertheless, Ethereum (ETH) dropped below $1,800 and is now trading at $1,700. Following an abrupt surge, coin prices typically experience a period of decline. As a result, the majority of well-known cryptocurrencies had slight declines overall, including Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC). After falling more than 7% in a day, Memecoin Pepe (PEPE), the cryptocurrency that had gained the most on Tuesday, turned out to be the greatest loser of all. Conversely, the MINA token emerged as the largest gainer, exhibiting a staggering 24-hour surge of more than 50 percent.

The value of the world’s cryptocurrency market was $1.25 trillion at the time of writing, a 1.67 percent decrease in a day.

Bitcoin Price Today
According to CoinMarketCap, the price of bitcoin was $34,016.72, down 1.40 percent in a day. As per the Indian exchange WazirX, the current value of Bitcoin was Rs 28.59 lakh.

Ethereum Price Today
As of this writing, the price of ETH was $1,788.11, down 1.78 percent in the last 24 hours. Ethereum’s price in India was Rs 1.51 lakh, according to WazirX.

Dogecoin Price Today
According to CoinMarketCap data, DOGE saw a 3.09 percent 24-hour decline, with its current price being $0.06612. The price of Dogecoin in India was Rs 5.57, according to WazirX.

Litecoin Price Today
Litecoin lost 2.09 percent in a day. When this was written, the price was trading at $69.67. The cost of LTC was Rs 5,856.75 in India.

Ripple Price Today
The price of XRP was $0.5537 after rising 0.78 percent in a day. The price of ripple was Rs 46.76, according to WazirX.

Solana Price Today
The price of Solana was $31.03, down 1.81 percent on a day. The price of SOL in India was Rs 2,722.95, according to WazirX.

According to Satoshi Nakamoto’s white paper “Bitcoin: A Peer-to-Peer Electronic Cash System,” published in 2008, Bitcoin was designed in reaction to faults in the traditional financial system. The major objective for Nakamoto was to create a decentralised digital currency that runs on a peer-to-peer network, eliminating the need for intermediaries such as banks or governments. Bitcoin seeks to enable secure, transparent, borderless transactions while addressing concerns about the “double-spending problem” (in which the same digital token is spent multiple times).

Regardless of your position on Bitcoin, it’s difficult to deny that it hasn’t been a flaming success and has probably blown up more than Nakamoto ever imagined. For example, the first known exchange of Bitcoin for dollars occurred in late 2009, with one Bitcoin valued at $0.00099. Today, that figure has risen to $35,000 per coin, and if Bitcoin were a company, it would rank among the top ten in terms of market capitalization ($668B USD). Today, we will do our best to present objective arguments and statistics in support of Bitcoin as a money or store of value:

Arguments in Support of Bitcoin as a Currency

Bitcoin supporters emphasise the currency’s ability to disrupt the established banking system. They contend that Bitcoin transactions are faster, cross borders, and have lower transaction fees than traditional banking systems or international money transfers. Citizens in hyperinflationary countries are increasingly utilising Bitcoin as an alternative money, according to evidence. Did you know Bitcoin’s price has reached an all-time high in comparison to three hyperinflationary countries? (Nigeria, Turkey, Argentina) This is impressive given that Bitcoin is still far from its all-time high of $69,000 versus the US dollar.

Arguments for Bitcoin as a Store of Value

Bitcoin supporters say that it functions similarly to gold as a store of value. Bitcoin’s advantages include its limited supply (only 21 million coins will ever exist) in comparison to traditional currencies, which may be manufactured in endless quantities, resulting in inflation. Proponents further say that the scarcity of Bitcoin and the decentralised nature of blockchain technology make it a trustworthy store of value. Despite geopolitical tensions, widespread global inflation, and market volatility, Bitcoin is up more than 100% in 2023. Bitcoin has previously not only survived, but thrived in conditions such as the 2008 Global Financial Crisis and the 2020 Covid-crash. Bitcoin and gold (both widely regarded as the primary store of wealth) have decoupled from equities markets and gained gains in recent months.

The Bitcoin bull run is about much more than the hoopla surrounding a prospective ETF approval. Bitcoin is becoming more than just a trading vehicle; it is also becoming a real-world currency and a store of value.

Bitcoin (BTC) hit a quick six-week high by July 29 as the fallout from the latest macro development boosted risk assets.

BTC/USD 1 Hour Candlestick Chart (Bitstamp). Source: TradingView
A monthly closing could seal 20% profits
Data from Cointelegraph Markets Pro and TradingView captured local highs of $24,445 for BTC/USD on Bitstamp, the best since the week beginning June 13.

After consolidating around $23,000, bulls got a second wind to push the market higher on the back of the latest US Federal Reserve rate hike and GDP data confirming the US is now in recession.

Risk assets outperformed overall, with bitcoin and altcoins joining gold to give traders and analysts reason for a positive outlook.

Gold #GOLD $GLD $GC_F held the bottom of the 23-month rectangle (yellow), which will serve as a handle for the massive C&H. The bull market has begun. Prices are heading north. The goal aimed for $3,000 over the next few years.

“This is getting interesting,” chain monitor Material Indicators tweeted in an update to its short and long signal thread for the June 28 BTC/USD daily chart. He observed the potential for Bitcoin to reach a higher high (HH). next:

“All trend spotting signals are printed on the Long D chart, plus the 21-DMA and 50-DMA unwinds. If BTC can form a HH, there will be a small friction to the next HH and then the macro channel will go into the YES range, it is still a bear market rally.”

Material Indicators added that $25,000 would also be a key price level to watch if the higher high at $24,300 holds for the day’s close.

“If this rally can get past $25,000 then $28,000 will take center stage very quickly,” read part of another post.

“The parabolic downtrend from ATH has been broken,” Blockware Chief Analyst William Clemente, meanwhile, summed up in a skewed alternative view of BTC’s current price performance in 2022.

From the same point last week, BTC/USD is up a modest 4% at the time of writing. With two days left until July’s weekly close, the pair was on track to close out monthly gains of over 20%, data from Coinglass confirmed.

BTC/USD monthly returns chart (screenshot). Source: Coinglass
Key support ETH eyes regained above $1,700
Altcoins were similarly rosy on the day as Ether (ETH) breached $1,700 to challenge the highs of the week dating back to June 6.

Related: 3 Bitcoin Trading Behaviors Suggest BTC’s Return to $24,000 Is a ‘Fakeout’

Does it scare you or get you very, very excited? #ETH

While Material Indicators toyed with the idea of another retracement and a lower low well below $1,000, others acknowledged the strength of short-term price action across altcoins.

“$ETH, like many altcoins, successfully retested old resistances to new supports and has rebounded strongly since then,” commented popular trader and analyst Rekt Capital.

Strong rebound from $ETH after successful retest

ETH is slowly approaching the next immediate resistance (upper orange box)

ETH would need to regain the bottom of this box as support if it is to move higher #ETH #Crypto #Ethereum

Additional analysis called for ETH/USD to reclaim the support zone starting around $1,730 for a continuation.

The views and opinions expressed herein are solely those of the author and do not necessarily reflect those of Cointelegraph.com. Every investment and trading step involves risk, you should do your own research when making a decision.

A new survey by digital asset management company Bakkt has revealed that 50% of gig workers are comfortable with receiving part of their pay in cryptocurrency, while 38% said they might consider earning their entire paycheck in digital assets.

Bakkt Chief Product Officer Nicolas Cabrera commented on the survey results, which clearly showed that cryptocurrencies are attractive among gig workers, saying:

“While this group could benefit from a better understanding of how cryptocurrencies can be used, ride-hailing drivers, food delivery drivers and other gig workers are citing crypto as the next generation of currency and are attracted by the potential increase in the value of their pay.”

The study asked 1,018 gig workers from across the US during June and July 2022. The aim of these questions was to reveal the acceptance of cryptocurrencies, the sentiments and opinions of the participants towards payments through cryptocurrencies.

Cryptocurrency Preferences
Among the 50% who said they would be willing to take part of their salary in cryptocurrency, freelancers (writers, developers, designers, etc.) have the highest willingness rate at 62%. Passengers (52%) and grocery shoppers (55%) follow.

Participants gave different answers to the question about the part of the salary paid in cryptocurrencies. 31% of gig workers said they would prefer 20% or less of their paycheck to be paid in cryptocurrency. 34% said they would be comfortable with 20-40%, while 21% said they would prefer to receive 40-60% of their income in cryptocurrencies.

Crypto appeal
The survey also explored why participants preferred crypto payments. Almost half of participants (49%) said the potential increase in salary value is the most compelling reason to get paid in cryptocurrency, despite the current bear market.

Another 26% said they preferred crypto payments because they were issued instantly. On the other hand, almost one in ten (11%) said they see cryptocurrencies as a long-term investment plan for retirement.

According to the numbers, more than half of gig workers said their income was sufficient to meet their living needs, as opposed to a “nice to have” income. Given how they perceive their gig work, their willingness to be paid in cryptocurrency indicates a significant level of acceptance among gig workers.

Crypto barriers
The most significant barrier against crypto payments appeared in education, at 48%. Only 33% of participants rated their knowledge of cryptocurrencies as above average or very high, while almost a quarter (26%) said they were more familiar with traditional investment tools.

Another significantly highly rated barrier emerged with 34% of participants reporting that they still had to pay bills in USD. Another 33% said cryptocurrencies are too volatile and they don’t want to risk having their payout cut.

Get a head start on the crypto market ?
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Zipmex, a cryptocurrency exchange focused on Southeast Asia, has filed for bankruptcy protection in Singapore to protect itself from legal threats from creditors.

Take advantage of London’s biggest financial event. This year we expanded into new verticals in online trading, fintech, digital assets, blockchain and payments.
The exchange filed for bankruptcy protection in a Singapore court on July 22, just days after it suspended withdrawals from its platforms.

“This helps protect Zipmex from third party actions, claims and proceedings while it is active and allows the team to focus all of our efforts on resolving the liquidity situation without having to worry about defending potential claims or adverse actions while we do so. ” said the crypto exchange.

The exchange’s attorneys filed five requests for relief from the moratorium, each for a different Zipmex entity. While two entities are registered in Singapore, the rest are from Australia, Indonesia and Thailand.

Read on

The filing automatically granted the exchange a 30-day moratorium period or until the application is decided by a Singapore court.

“It is important to note that the moratorium is not the liquidation of any company,” the exchange added.

Another collapsing crypto exchange?
Zipmex is the latest worrisome cryptocurrency platform after Celsius, Voyager Digital and Three Arrows Capital. Another troubled crypto startup, Vauld, has filed for protection from its Singapore creditors.

In suspending withdrawals, Zipmex cited a combination of circumstances, including market volatility and the financial difficulties of its trading partners. Now, the exchange’s troubles appear to be murkier.

Coinbase was previously interested in acquiring Zipmex, but the American exchange ended up investing only in the Southeast Asian counterpart. The investment came as part of the crypto exchange’s Series B+ funding round, which valued it at $400 million.

Among all the markets it operates in, Zipmex’s user base is concentrated in Thailand. Thailand’s Securities and Exchange Commission (SEC) is also working with law enforcement to assess customer losses after Zipmex suspended withdrawals.

Zipmex, a cryptocurrency exchange focused on Southeast Asia, has filed for bankruptcy protection in Singapore to protect itself from legal threats from creditors.

The exchange filed for bankruptcy protection in a Singapore court on July 22, just days after it suspended withdrawals from its platforms.

Take advantage of London’s biggest financial event. This year we expanded into new verticals in online trading, fintech, digital assets, blockchain and payments.
“This helps protect Zipmex from third party actions, claims and proceedings while it is active and allows the team to focus all of our efforts on resolving the liquidity situation without having to worry about defending potential claims or adverse actions while we do so. ” said the crypto exchange.

The exchange’s attorneys filed five requests for relief from the moratorium, each for a different Zipmex entity. While two entities are registered in Singapore, the rest are from Australia, Indonesia and Thailand.

Read on

The filing automatically granted the exchange a 30-day moratorium period or until the application is decided by a Singapore court.

“It is important to note that the moratorium is not the liquidation of any company,” the exchange added.

Another collapsing crypto exchange?
Zipmex is the latest worrisome cryptocurrency platform after Celsius, Voyager Digital and Three Arrows Capital. Another troubled crypto startup, Vauld, has filed for protection from its Singapore creditors.

In suspending withdrawals, Zipmex cited a combination of circumstances, including market volatility and the financial difficulties of its trading partners. Now, the exchange’s troubles appear to be murkier.

Coinbase was previously interested in acquiring Zipmex, but the American exchange ended up investing only in the Southeast Asian counterpart. The investment came as part of the crypto exchange’s Series B+ funding round, which valued it at $400 million.

Among all the markets it operates in, Zipmex’s user base is concentrated in Thailand. Thailand’s Securities and Exchange Commission (SEC) is also working with law enforcement to assess customer losses after Zipmex suspended withdrawals.

Cryptocurrencies have been hit hard by fears that interest rate hikes will end the era of cheap money, with the world’s biggest digital asset, bitcoin, down more than 56% from this year’s high. Several crypto companies have filed for bankruptcy or been forced to seek emergency capital infusions.

Singaporean crypto hedge fund Three Arrows Capital (3AC) filed for Chapter 15 bankruptcy on July 1. Once a formidable player in the digital asset space, 3AC’s downfall appeared to stem from the firm’s bet on the Terra ecosystem, which was behind it. terraUSD stablecoin failed. The token lost almost all of its value in May, draining nearly half a trillion dollars from the crypto market.

The highly leveraged 3AC was unable to meet calls for additional payment from the counterparties it borrowed from. As a result, crypto lenders BlockFi and Genesis Trading liquidated their positions in the firm. According to court filings, 3AC’s creditors say they are owed more than $2.8 billion.

CELSIUS NETWORK New Jersey-based crypto lender Celsius suspended withdrawals on June 12 and filed for Chapter 11 bankruptcy a month later, listing a $1.19 billion deficit on its balance sheet. It was valued at $3.25 billion in an October funding round. Celsius encountered complex investments in the wholesale digital asset market.

The company lured retail investors by promising annual returns of up to 18.6%, but struggled to meet redemptions as cryptocurrency prices fell. In its first bankruptcy filing, lawyers for Celsius said bitcoin mining could provide the company with a way to repay customers. Meanwhile, several state regulators are investigating Celsius’ decision to suspend customer selection, Reuters reported.

Crypto lender Voyager Digital, also based in New Jersey, has been a rising crypto star, reaching a market capitalization of $3.74 billion last year. But the collapse of 3AC dealt a major blow to Voyager, which was heavily exposed to the hedge fund. Voyager filed claims of more than $650 million against 3AC.

Voyager filed for Chapter 11 bankruptcy on July 6 and announced that it has $110 million in cash and crypto assets. Since then, the US Federal Deposit Insurance Corp has confirmed that it is investigating Voyager’s marketing of deposit accounts for cryptocurrency purchases that the company advertised as FDIC insured.

Crypto exchange FTX and Alameda Research, both founded by billionaire Sam Bankman-Fried, offered to buy all of Voyager’s digital assets and loans, with the exception of 3AC’s loans, and allowed Voyager customers to withdraw their assets from the FTX account. Voyager, however, dismissed the offer as a “low price offer” in a court filing.

Singaporean crypto lender Vauld filed for protection from its creditors in a Singapore court on July 8 after suspending withdrawals a few days ago. The company owes its creditors $402 million, The Block reports. Vauld is backed by billionaire investor Peter Thiel’s Valar Ventures, Pantera Capital and Coinbase Ventures. In a July 11 blog post, Vauld said it is discussing a possible sale to London-based crypto lender Nexo while exploring potential restructuring options.

Faced with a surge in withdrawals and a hit from 3AC, crypto lender BlockFi signed an agreement with FTX on July 1 that provides BlockFi with a $400 million revolving credit facility and includes an option that allows FTX to buy the company for up to $240 million.

BlockFi was hit hard by the cryptocurrency crash and implemented several cost-cutting measures in June, including cutting staff by 20% and reducing executive compensation. The company was valued at $3 billion in a funding round last year.

With the rise of cryptocurrency not likely to stop anytime soon, casinos and gambling services have jumped in and are trying to cater to this market. Everything basically works like in a normal casino, the only difference is the currency you pay. However, there are some different mechanics and games in this ever-changing market. Almost all changes and new developments in the market have been for the better. Some are skeptical because the value of currencies can fluctuate greatly.

 But we explain that and much more here.

 What currencies are most commonly used?

 With most online gambling services, you will find that the most accepted coin would be Bitcoin, the king of cryptocurrencies. But if you look closely, there are plenty of other coins accepted, such as ETH (Etherium), DOGE (Dogecoin), XRP (Ripple), LTH (Litecoin) and DASH (Dash).

 It’s basically the same thing – some coins can fluctuate in price a bit more than others. We recommend that you have some knowledge of cryptocurrencies before embarking on this journey, but the best crypto gambling sites can be found at CryptoGambe.tips, so that’s a good place to start.

 Cryptocurrency Casino Bonuses

 Probably one of the best parts of the whole cryptocurrency casino scene is the bonuses you get. However, with most casinos you will get some kind of deposit bonus, but with cryptocurrency they really try to give you a big bonus as a new player or even as a more advanced player. So this is really where the cryptocurrency casino shines.

 Most bonuses come in the form of deposit bonuses or free spins. But you often get free credits after you sign up!

 Let’s talk about transaction fees, payments and customer identity

Most online casinos offer zero transaction fees, which means unlimited free transactions per day. Most of them require no verification, ensuring the safety of players’ funds and identities. Another big thing that is overlooked in cryptogambling is payouts, payouts are processed instantly and an average crypto transfer takes about 30 minutes – 2 hours to complete, depending on the number of coins in the network.

 Not going through KYC (Know Your Customer) is also a big plus as it is time consuming and could be a breach point for your privacy.