Barkerashley Trading Fulcrum

The past week has proven to be a bullish one for the cryptocurrency market, with significant gains observed across various digital assets. Bitcoin, the leading cryptocurrency, experienced a notable surge, breaking through key resistance levels and surpassing its previous all-time high. This bullish momentum spilled over to other major cryptocurrencies such as Ethereum, which also witnessed substantial price appreciation. However, not all cryptocurrencies shared in the gains, as some faced losses and struggles amidst the market's upward trajectory.Among the notable gainers of the week, altcoins took center stage. Coins like Solana, Cardano, and Binance Coin recorded impressive gains, driven by strong market demand and positive news surrounding their respective blockchain projects. Solana, in particular, stood out with its meteoric rise, propelled by increased adoption and the launch of several successful decentralized applications (dApps) on its platform. Cardano's smart contract capabilities and upcoming upgrades also generated investor enthusiasm, while Binance Coin benefited from the continued expansion of the Binance ecosystem and its utility within the platform.While the overall market sentiment was bullish, some cryptocurrencies experienced losses or faced challenges during the week. For instance, Ripple's XRP encountered a setback as it struggled to maintain its upward momentum due to ongoing regulatory concerns. Additionally, meme coins like Dogecoin and Shiba Inu faced selling pressure, as investors shifted their focus towards more fundamentally strong projects. These market dynamics highlighted the importance of careful investment decisions and the need for thorough research before entering speculative investments.As the crypto market continues to evolve, several trends emerged during the week that are worth watching. One significant trend is the growing institutional adoption of cryptocurrencies. Institutional investors, including major banks, hedge funds, and asset management firms, have increasingly recognized the potential of digital assets as an alternative investment class. This institutional interest has not only contributed to the market's bullishness but has also brought more stability and legitimacy to the crypto space.Another trend to watch is the rise of decentralized finance (DeFi) platforms. DeFi protocols, built on blockchain technology, aim to revolutionize traditional financial systems by providing open and permissionless access to various financial services such as lending, borrowing, and yield farming. These platforms gained significant traction during the week, with increased activity and innovation in the DeFi space. However, as with any rapidly evolving sector, risks and challenges remain, including regulatory uncertainties and smart contract vulnerabilities.Furthermore, the integration of cryptocurrencies into mainstream payment systems is gaining momentum. Major companies, including payment processors and tech giants, are exploring ways to incorporate cryptocurrencies into their platforms, providing users with more options for transacting with digital assets. This development further reinforces the notion that cryptocurrencies are becoming increasingly accepted and utilized in everyday financial activities.In conclusion, the past week showcased a bullish trend in the cryptocurrency market, with notable gains witnessed by major cryptocurrencies and altcoins alike. However, the market also witnessed losses for some cryptocurrencies and highlighted the importance of conducting thorough research before making investment decisions. As the crypto market continues to evolve, trends such as institutional adoption, the growth of DeFi platforms, and the integration of cryptocurrencies into mainstream payment systems are worth monitoring. These developments indicate a gradual shift towards wider acceptance and utilization of digital assets in the global financial landscape..#opbnb #Layer2 #BTC #BTC #BTC BTC#crypto2023 crypto2023#crypto2023 crypto2023#crypto2023 crypto2023#crypto2023 crypto2023#CryptoTradingBots

Data center operator US Bitcoin Corp (USBTC) has announced it will host 8,500 Bitcoin miners from the insolvent crypto lender Celsius at its Alpha Site. 

A press statement on Aug. 31 revealed that the miners are expected to have an estimated hashrate of 820 petahash (PH).

The hosting arrangement is part of a more significant deal that could see USBTC managing as many as 310,000 Bitcoin (BTC) miners. These miners would belong to Celsius and other clients like Teslawatt, Foundry USA, Marathon Digital, Decimal Group, and Sphere 3D.

In May, USBTC, in collaboration with other partners in the Fahrenheit LLC consortium, won the auction to manage Celsius assets. These assets comprise a lending portfolio and approximately 122,000 mining machines.

#BTC #bitcoin #crypto2023 #crypto2023 #blockchain #bitcoin

Aptos Labs has partnered with Microsoft to integrate AI capabilities with blockchain technology, per an announcement on Aug. 9.

The Aptos Assistant, developed by Aptos Labs in collaboration with Microsoft, provides users and developers with valuable insights and analytical data on the Aptos environment.

The partnership will involve Aptos Labs establishing validator nodes on Microsoft’s Azure cloud computing service. These nodes are vital in supporting the blockchain and enabling transaction processes.

Further enriching the collaboration, GitHub, a Microsoft-owned code repository, will integrate Aptos’s programming language, “Move,” into Copilot. This AI system aids developers by automatically completing code segments.

Microsoft plans to engage Aptos Labs in discussions with prominent financial institutions interested in creating blockchain-powered applications on Azure.

Rashmi Misra, a Microsoft executive, stressed the importance of this partnership, highlighting the intersection of AI and blockchain as a compelling area. She underscored their shared goal of making blockchain more accessible to a broader range of users.

Contextually, while AI startups witnessed an impressive fundraising feat of nearly $25 billion in early 2023, their crypto counterparts garnered around $3.6 billion.

Despite this disparity, Mo Shaikh, Aptos Labs’ co-founder, and CEO, perceives AI and crypto as complementary, not competitive.

Shaikh pointed out the potential of blockchain to offer genuine, authenticated information, unlike large AI models, which might ingest information of questionable veracity. He posits that AI when sourcing data from blockchain, could drastically reduce instances of “hallucinations” or inaccuracies.

The actual implications of such integrations remain to be fully realized. However, Shaikh alludes to a deeper, shared vision with Microsoft—a vision not merely oriented around the AI hype but one rooted in intricate integration and collaborative development.

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#BinanceTournament #crypto2023 #MultiChain #crypto2023 #FDUSD

Bitcoin, the pioneering cryptocurrency, is grappling with significant environmental challenges due to its vast annual electricity consumption of around 139.39 TWh, comparable to the power demands of entire countries. Bitcoin’s PoW system, responsible for its high energy use, contributed to a carbon footprint exceeding 65 million tonnes of CO2 in 2021.

Bitcoin transactions are validated by users who mine bitcoins through the energy-consuming PoW process. The winning miner, who solves complex cryptographic puzzles, receives new Bitcoins as a reward. This process, primarily powered by fossil fuels, releases significant amounts of greenhouse gases, exacerbating global warming. As research published in 2022 revealed,

Bitcoin mining may be responsible for 65.4 megatonnes of CO2 per year, which is comparable to country-level emissions in Greece (56.6 megatonnes in 2019).”

Compared to Bitcoin, which operates on the energy-demanding proof-of-work (PoW) consensus mechanism, TRON’s energy use is significantly lower, consuming less than 0.001% of Bitcoin’s annual electricity consumption of 83.87 TWh (as of July 1, 2022).

The legal roadmap:-

As the cryptocurrency industry evolves, sustainability is now a key concern. While the path to eco-friendliness isn’t straightforward, the transformation of Ethereum from a proof-of-work to a proof-of-stake system shows that change is achievable. Further, collaborations between the crypto community, regulators, and other stakeholders can harmonize technology with environmental responsibility.

The proposed Crypto-Asset Environmental Transparency Act of 2022 is one such initiative. It seeks to compel crypto-mining operations using over 5 megawatts of power to report their carbon dioxide emissions, increasing transparency and understanding of crypto-mining’s environmental impact.

The Act also proposes an interagency study to assess the environmental impacts of crypto mining in the US, including the number of mining operations, the effects of energy demand on emissions, local impacts on noise and water pollution from mining facilities, and the negotiation of demand response programs between mining centers and utilities.

The story of cryptocurrencies and their environmental effects is still being written. As it progresses, the pursuit of sustainability continues to shine as a guiding light, leading the way toward a more environmentally friendly and responsible future.

The cryptocurrency markets were trading in the red on Monday as the FOMC interest rate decision looms over crypto markets this week.

Bitcoin (BTC) declined 0.42% to $29,793, whereas Ethereum (ETH) was below the 1,900 level. BTC volume stood at approximately $10 billion, rising 22.28% in the last 24 hours.

Bitcoin continues to trade below the $30000 mark at around $29780. The price of Bitcoin did not rise about $30000 over the weekend. This recent price decline could be because of the US SEC chair expressing disappointment with the defeat over XRP's case and increasing selling pressure," Edul Patel, Co-founder and CEO at Mudrex, said.

"There could be little volatility this week as FOMC's decision on interest-rate policy is due on Wednesday," Edul added.

Other top crypto tokens were also trading lower. XRP, BNB, Cardano, Dogecoin, and Solana were also trading lower. The global cryptocurrency market cap was trading lower, around $1.19 trillion, falling 0.49% in the last 24 hours.

#crypto2023 #bitcoin #Binance

The founder of DeFiance Capital, a crypto investment fund, tweeted that the bear market of 2022-2023 has officially ended. He provided six reasons to support this claim:

The worst macroeconomic tightening has passed, with a decrease in CPI and positive real interest rates. There is a higher likelihood of interest rate cuts next year.

Institutional acceptance of cryptocurrencies as an asset class is growing, starting with BlackRock's application for a Bitcoin ETF.

If even tokens that were considered likely to be classified as securities cannot be defeated by the SEC, the chances of the SEC labeling all tokens as securities are significantly reduced.

Most retail investors have been eliminated, and unless there are clear unlock schedules, those who still hold are unlikely to sell in the short term.

The market is significantly under-allocated to assets other than BTC and ETH, and there is much to be done in terms of diversification.

Hong Kong's embrace of cryptocurrencies is real and opens the door for Asian financial institutions to enter the crypto space in a legitimate way.

Please note that the views expressed in the tweet represent the opinion of the individual and should not be taken as financial advice. Investors are encouraged to conduct their own research and consult with professionals before making investment decisions.

#BRC20 #crypto2023 #cryptocurrency #googleai #Binance

Last week, see here, we found using the Elliott Wave Principle (EWP), Bitcoin (BTC) made an almost picture-perfect Fibonacci-based impulse pattern on several wave degrees, and we were looking for:

a W-2/b pullback to ideally $25600-26200, … and then the next rally should target at least $28000 but preferably $29500+ for green W-3/c.”

Thus, if we see five green waves up from last week’s low develop to ideally around $30500 over the next few days to weeks, then we know those five are only W-i of W-c of W-B. For now, we take it step by step at this stage and focus on green W-2/b and 3/c. Once complete, we will monitor for the potential, albeit highly likely, green W-4 and W-5.”

Fast forward, BTC dropped to $26260 for W-2 ($25600-26200 forecasted), rallied to $30776 for green W-3 ($29500+ forecasted), and topped on June 23 at $31413 (around $30500 forecasted) for green W-5. Proving how well the EWP works to predict BTC’s price movements. See the blue box in Figure 1.

Figure 1:-

Thus, BTC presented us with the anticipated five green waves, reaching their forecasted targets. Therefore, our view from last week (see below) means the caveat can now be removed, and BTC should be getting ready for that (black) C-wave rally.

Bigger picture-wise, the larger (black) b-wave we have been tracking –[see Figure 2 below] - has likely bottomed, and a C-wave rally to $36-48K, with $42K as the optimal middle, should be underway, with the only caveat that this is a smaller counter-trend (a-b-c) bounce staying below the April high.”

Figure 2:-

From the EWP, we know C-waves comprise five waves. In this case, red waves W-i, ii, iii, iv, and v. Red W-i has now topped as it formed five smaller green waves, and red W-ii should now be underway, targeting ideally $27750-29000. But corrections can also move more through time than price, and we may see the blue support zone ($29K+/-500) hold.

Regardless, thanks to the EWP, we know after five (green) waves up, expect three waves down (red W-ii) and another five waves back up (red W-iii).” And that is what we will be tracking over the next few days to months.

Let's know your opinion, use the comments section!

#googleai #crypto2023 #BTC #Binance #bitcoin

Bitcoin seems to be the flavor of the day, and everyone seems to be talking about it once again. The thing is that fundamentals have started to shift for Bitcoin in terms of news flow. For instance, Binance, which is the largest crypto exchange, seems to have settled its case with the US over its US assets. This is really good not only for the exchange but also for the crypto space, as the less time you spend with the SEC arguing this matter and focusing more on growth, the better.

In addition to this, retail investors who have been flushed out a number of times, mainly due to the whipsaw moves in the bitcoin price and also due to the adverse news flow over the past number of months, are feeling FOMO once again. Basically, they are looking at the news flow, such as that Fidelity has filed for the Bitcoin ETF and BlackRock (NYSE:BLK) has filed for the spot Bitcoin ETF, and then scratching their heads, wondering why they didn’t remember these fundamentals for the space, as this is not that they just decided overnight that they were going to file for the spot Bitcoin ETF.

This matter has been in play for a while, but the fact that institutions like BlackRock have filed for the ETF at a time when the SEC started to clamp down on all other players who weren’t playing by the rules is sort of a big thing to consider. Traders know that BlackRock has a great history of succeeding with the SEC, and they know that the spot Bitcoin ETF was the way forward for the institute to come together on this matter.

In addition to this, we strongly believe that this is not an incident that is more like buy the rumors and sell the news. We are highly optimistic that this particular event is actually going to help the fundamentals and the price action of Bitcoin. Thus, this may be the last time we see the price where it is trading, and it is certainly the time to bag some bargains

In terms of technical price, the only level that matters the most is the 50K price mark, but in between that, we have small resistance levels like 30K and 40K, which, once cleared will only build more momentum for the price.

#googleai #crypto2023 #bitcoin #Binance #BTC

Last Cryptocurrency Project Invested By Ethereum Co-Founder Vitalik Buterin Revealed:-

Ethereum (ETH) co-founder Vitalik Buterin and blockchain scaling startup StarkWare are supporting a new initiative in the blockchain space.

Buterin's new startup is Kakarot, an Ethereum Virtual Machine (EVM) on Starknet. Buterin and StarkWare participated in a pre-seed investment round for a startup called Kakarot. The amount of the investment was not disclosed to the public.

According to the developers, Kakarot zkEVM, built on CairoVM, a Turing compatible language, facilitates the creation and launch of EVM-compatible applications by moving developers to an Ethereum-compatible environment.

Looking into Kakarot's future, an ambitious plan to position itself as an EVM in Starknet Tier 2 emerges in the first phase.

Kakarot wrote the following about the investment round on his official Twitter account:

Kakarot Labs is officially established and has closed a pre-seed round with top investors.

Kakarot zkEVM is an Ethereum Virtual Machine (EVM) built on Cairo.

It provides transparency and security by leveraging STARK proofs for provable transactions and blocks.

Thanks to the proofs of validation, Kakarot is able to take over the security of Ethereum L1 while also providing lower costs.”

*Note "not an investment advice"

#Ethereum #ETH #blockchains #Binance