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Why Bitcoin Price Remains Threatened Against $ 30K
The bitcoin price rose above $ 34,000 but fell to around $ 35,000 against the US dollar.
There has been a decent recovery in the price of bitcoin above the $ 33,800 and $ 34,000 resistance levels. However, the bulls failed to gain a foothold above $ 34,500, and the price remained below $ 35,000. A high of around $ 34,872 was formed before the price started another decline. There was a break below the $ 34,000 and $ 33,800 support levels.
Ethereum Is Cutting Profits Why ETH May Find Strong Support Around $ 1275
Ethereum began a downward correction after trading to a new all-time high of $ 1,480 against the US dollar.
After a strong rise above $ 1400, Ethereum was unable to test the $ 1500 resistance zone. There was a clear break below the $ 1400 and $ 1380 support levels. More importantly, on the 1-hour ETH / USD chart, there was a break below the main bullish trendline with support near $ 1,385. The pair broke through the $ 1,350 support level and moved into a short-term bearish zone.
Harvard and Yale funds buy cryptocurrency
Reports show that some of America’s largest universities are buying cryptocurrency for their multi-billion dollar donations.
Numerous large US funds from universities, including Harvard, Yale, Brown and Michigan University, are reported to buy cryptocurrency on exchanges.
University donations traditionally consist of money or other financial assets such as cryptocurrency that are donated to academic institutions.
Janet Yellen approved as finance minister in the Biden administration
Janet Yellen will become the next Treasury Secretary after the US Senate vote.
The current vote shows that Yellen has 76 votes to 12 – more than enough to warrant confirmation.
The currently approved Treasury Secretary is taking over the federal department dealing with a range of issues, including the economic impact of the COVID-19 pandemic.
More and more institutional investors are buying ether as a store of value
The etheric rally seems more organic and takes place within the crypto industry.
According to Coinbase’s 2020 Annual Review, more institutional investors are looking at Ether as a store of value. The crypto exchange noted that a “growing number” of its institutional clients have taken positions on Ether, the national currency of the Ethereum network, due to its strong returns. These customers mostly bought bitcoins in 2020.
As industry leaders including Coinbase and Gemini continue to be optimistic about Ether, an increasing number of large investors are also exploring a subsector called decentralized finance, analysts and traders said.
India’s central bank says it is exploring the possibility of a digital currency
The Reserve Bank of India said it is looking into the need for digital currency.
In a brochure on payment systems, published on January 25, RBI said that if the need for a digital rupee arises, it will study how to put it into action.
In December 2019, RBI Governor Shaktikanta Das said it was “too early” to talk about CBDC due to technology barriers. “As the technology develops with adequate guarantees, I think this is an area that the Reserve Bank will definitely consider seriously at the right time,” he said then.
Grayscale Donates $ 1 Million To CoinCenter, Grows Another $ 1 Million In February
Grayscale Investments donated $ 1 million to the nonprofit think tank Coin Center.
Grayscale Investments, a leading crypto asset manager, donated $ 1 million to a non-profit think tank dedicated to public privacy in the crypto ecosystem – Coin Center. In addition, Grayscale has promised to compensate every second donation up to $ 1 million by February 2021.
Vietnam’s Oldest Bitcoin Exchange Adds Support for the Lightning Network
Thanks to VBT integration, the Lightning Network now supports half a dozen bitcoin exchanges.
In the announcement, Vietnam’s oldest exchange announced that withdrawals to the Lightning Network are now open to its users. VBTC CEO Dominic Weil said deposits will be available later this year.
According to an article by BitcoinVN News, the media arm of BitcoinVN, the parent company that also owns VBTC, Lightning Network withdrawals are valued at 1,000 Satoshi plus 0.2% of the amount withdrawn. There is a 100,000 Satoshi fee for normal Bitcoin withdrawal.
Russian officials must sell their crypto assets by April
According to a letter from the Ministry of Labor, Russian government officials must get rid of their crypto assets by April 1, 2021.