Connect with us

Bitcoin (BTC)

Bitcoin Taps $18,100, Why This Is Dangerous For The Market?

Published

on

Bitcoin Taps $18,100, Why This Is Dangerous For The Market?

  • BTC price tabs $18,100 for the second time as price respect weekly downtrend. 
  • Price continues to trade below 50 and 200 Exponential Moving Average (EMA) on the daily timeframe. 
  • BTC price bounced on the four-hourly chart after a bullish divergence appeared.

The price of Bitcoin (BTC) has had a rough week against tether (USDT) as the price plummeted following the Federal Open Market Committee news (FOMC). Following the news that the Federal Reserve raised its target interest rate by 75 bps, the price of Bitcoin (BTC) fell from $19,700 to a region of $18,100. (Data from Binance)

Bitcoin (BTC) Price Analysis On The Weekly Chart 

Weekly BTC Price Chart | Source: BTCUSDT On Tradingview.com

The price of BTC continues to struggle to keep its head afloat after seeing the weekly candle closing bearish, with the new week looking more bearish ahead of the expected FOMC meeting. 

BTC price tried showing some relief bounce ahead of the new week as price moved to a region of $19,500, but this bounce was cut short as the news of an increased rate hike harmed the price seeing the price of BTC drop to previous all-time high causing worry as this has been a strong support zone for the price of BTC.

If the price of BTC continues to tap this region of $18,100, it will weaken the support, and we would likely revisit lower support areas of $17,500-$16,000, acting as high-demand zones.

For BTC’s price to restore its bullish move, the price needs to break and hold above $24,000 as the price has continued to respect the downtrend resistance on the weekly chart preventing the price of BTC from trending higher since falling from its all-time high. 

Advertisement

The price of BTC is currently faced with resistance to breaking above $19,500; If the price of BTC fails to break and hold above this support zone, we could see the price going lower to its $18,100 support and lower if this support fails to hold off sell orders. 

Weekly resistance for the price of BTC – $19,500.

Weekly support for the price of BTC – $18,000-17,500.

Price Analysis Of BTC On The Daily (1D) Chart

Daily BTC Price Chart | Source: BTCUSDT On Tradingview.com

The daily timeframe for BTC prices continues to move in range in an asymmetric triangle; the price of BTC needs to break out of this range with good volume for the price to trend to a high of $20,800. 

On the daily timeframe, the price of BTC is currently trading at $18,900 below the 50 and 200 Exponential Moving Average (EMA), acting as resistance for BTC price. The price of $20,800 and $28,000 corresponds to the resistance at 50 and 200 EMA for the price of BTC. The price of BTC needs to reclaim 50 EMA for a chance to trend to $22,000.

Advertisement

Daily resistance for the BTC price – $20,800.

Daily support for the BTC price – $18,100.

Featured Image From Quit falling, Charts From Tradingview 

Advertisement

1 million BTC

Sleuth Discovers Satoshi’s Long-Lost Bitcoin Version 0.1 Codebase, Raw Code Contains Bitcoin Inventor’s Never-Before-Seen Personal Notations

Published

on

Sleuth Discovers Satoshi’s Long-Lost Bitcoin Version 0.1 Codebase, Raw Code Contains Bitcoin Inventor’s Never-Before-Seen Personal Notations

On October 7, 2022, a bitcoin supporter named Jim Blasko explained that he discovered the oldest upload of Bitcoin’s version 0.1 codebase. The original code was thought to have been lost for more than a decade and with a “little browser hacking” Blasko was able to find the lost version 0.1 raw data and files stored on sourceforge.net.

Bitcoiner Scrapes Up the ‘Cleanest Original Version of Bitcoin’ Thought to Be Lost Forever

For well over ten years, Satoshi Nakamoto’s version 0.1 codebase was thought to be lost. If one is to search, it’s extremely difficult to find and some people have discovered bits and pieces of the code. Bitcoiner Jim Blasko revealed on October 7 via a Facebook post that using a touch of browser hacking he was able to scrape up the long-lost code. After explaining a bit of history, Blasko detailed that it took Bitcoin’s creator roughly six months to mine the inventor’s stash of 1 million BTC.

Bitcoin’s version 0.1 codebase discovered by Jim Blasko.

“Satoshi would take at least 6 months to mine 1 million bitcoin,” Blasko’s post explains. “As block 20,000 wouldn’t come until July 22nd, 2009, and others like Hal [Finney] were mining as well, so at least this time or shortly thereafter. [The network’s difficulty] was only 1 at the time and basic [CPU] mining would continue for a couple of years.” Furthermore, the bitcoiner explained that in late August 2009, Martti Malmi uploaded the raw code of Bitcoin v0.1 to sourceforge.net.

Advertisement

“Since 2012 it was thought that the raw code and the files were gone as they had been scraped from the Sourceforge search engine for some reason,” Blasko’s post says. “I know many users [were] looking for the original v0.1 code for a very long time and Hal Finney was planning to email it to some people in 2012, but his health was poor and by his own words didn’t get online much to respond,” the crypto researcher adds.

Blasko’s post continues:

I’m not sure if Hal ever did send it out, as Hal was the earliest to receive Bitcoin v0.1 code from Satoshi. Either way, I did some digging and I was able to find the original code still on Sourceforge using some browser hacking.

Via Blasko’s discovery, the hidden code uploaded on August 30, 2009 can be found here and here. Blasko’s discovery is unique because it is the very first version of Bitcoin presented in an untampered way and it contains all of Satoshi’s personal notations in the early codebase. Blasko said that he was aware that there are existing versions of Bitcoin version 0.1’s codebase on Github, however, he believes it’s “the cleanest original version of Bitcoin.”

Bitcoin’s version 0.1 codebase discovered by Jim Blasko.

In the codebase, Nakamoto explains things like why base-58 was chosen instead of standard base-64 encoding, and other notations like things the inventor planned “to do” later in the future. There’s also a great description of the original Bitcoin operations codes (opcodes) and what each one does. Opcodes such as OP_CHECKSIG, OP_CHECKSIGVERIFY, OP_CHECKMULTISIG, and OP_CHECKMULTISIGVERIFY.

Tags in this story

1 million BTC, 2009, 2009 codebase, Bitcoin, Bitcoin (BTC), Bitcoin codebase, Bitcoin v0.1 code, Bitcoin Version 0.1 Codebase, CPU Mining, crypto researcher, crypto sleuth, crypto slueth, difficulty, github, Hal Finney, Jim Blasko, long-lost code, mining, Nakamoto, network, Satoshi, Satoshi Nakamoto, Sourceforge, Sourceforge repo

Advertisement

What do you think about Jim Blasko’s early Bitcoin codebase discovery? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Advertisement

Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: Valery Brozhinsky / Shutterstock.com and Sourceforge

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Advertisement

Continue Reading

Bitcoin

Grayscale’s New Co-Investment Vehicle Aims To ‘Capture The Upside Of Crypto Winter’

Published

on

Grayscale’s New Co-Investment Vehicle Aims To ‘Capture The Upside Of Crypto Winter’

On October 6, Grayscale Investments announced a new venture that gives accredited investors the opportunity to invest in the mining infrastructure that powers the digital asset ecosystem. According to the announcement, the co-investment vehicle is called Grayscale Digital Infrastructure Opportunities (GDIO), and the crypto mining firm Foundry will handle the new product’s operations. GDIO is meant to “capture the upside of crypto winter,” Grayscale’s announcement on Thursday details.

Grayscale’s New Co-Investment Vehicle GDIO Looks for Opportunities Within the Crypto Economy’s Market Cycles — Day-to-Day Operations to be Managed by Foundry Digital

The world’s largest digital currency asset manager, Grayscale Investments, announced the launch of a new co-investment opportunity on Thursday, a financial vehicle that aims to take advantage of the crypto economy’s market cycles. The new co-investment product is the first of its kind for Grayscale and the bitcoin mining, and staking infrastructure firm Foundry Digital will “manage the day-to-day operations” of the Grayscale Digital Infrastructure Opportunities (GDIO) co-investment vehicle.

The Four Stages of the Mining Cycle, according to the Grayscale Digital Infrastructure Opportunities (GDIO) fact sheet.

During the last 12 months, Foundry has been the largest bitcoin mining pool in terms of total hashrate. The firm’s mining pool captured 19.38% of the global hashrate this year, or discovered roughly 10,375 out of the 53,532 BTC blocks found during the past 12 months. The bear market has been troublesome for miners this year and Grayscale believes that the crypto winter can provide unique opportunities for investment.

Advertisement

Grayscale’s investment thesis states:

As bitcoin prices have fallen dramatically, leveraged miners have experienced meaningful pressure on their operating margins. In the coming months, we anticipate that some miners will be forced to liquidate their mining equipment. We believe GDIO will have an opportunity to purchase mining equipment at distressed levels and to profitably mine bitcoin in the future.

For instance, the crypto miner Cleanspark explained this past summer that the crypto economy’s downturn has produced “unprecedented opportunities.” At the end of June, a report noted that $4 billion in bitcoin mining loans were in distress. Moreover, In September, Jihan Wu’s Bitdeer launched a $250 million fund to help distressed miners. Grayscale CEO Michael Sonnenshein says his firm has an edge above the rest that allows Grayscale to find opportunities within the crypto winter cycle.

“Grayscale’s unique position at the center of the crypto ecosystem enables us to create offerings that allow investors to put capital to work through differing market cycles,” Sonnenshein remarked during the announcement. “Our team has long been committed to lowering the barrier for investing in the crypto ecosystem – from direct digital asset exposure, to diversified thematic products, and now infrastructure through GDIO.”

Tags in this story

Bitcoin, Bitcoin (BTC), BitDeer, Cleanspark, Co-Investment, co-investment vehicle, Crypto Winter, Digital asset manager, Foundry, Foundry Digital, Foundry USA, grayscale, Grayscale CEO, Grayscale GDIO, Grayscale Investments, Market cycles, Michael Sonnenshein, mining, staking company

What do you think about Grayscale’s co-investment vehicle that aims to find opportunity in the crypto winter and market cycles? Let us know what you think about this subject in the comments section below.

Advertisement
Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Advertisement

Image Credits: Shutterstock, Pixabay, Wiki Commons, Grayscale Logo

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Advertisement
Continue Reading

ban bitcoin

Billionaire Hedge Fund Founder Ray Dalio Steps Down As Co-CIO Of Bridgewater Associates

Published

on

Billionaire Hedge Fund Founder Ray Dalio Steps Down As Co-CIO Of Bridgewater Associates

Billionaire hedge fund founder Ray Dalio has stepped down as chief executive of Bridgewater Associates, according to a transfer of voting rights on September 30. Bridgewater’s co-chief executive explained on Tuesday that “Ray no longer has the final word,” in regard to the hedge fund’s future.

Hedge Fund Giant and Bridgewater Associates Founder Ray Dalio Steps Down, Co-CEOs Mark Bertolini and Nir Bar Dea to Take Over Senior Management

On Tuesday, October 4, after founding Bridgewater Associates more than 40 years ago, Ray Dalio stepped down as co-CIO. Bloomberg’s Erik Schatzker first reported on the matter after the hedge fund founder relinquished all of his voting rights to the board of directors on September 30. After founding Bridgewater in 1975, Dalio was considered a mogul hedge fund titan and within the first ten years of business, Bridgewater got a $5 million investment from the World Bank.

Schatzker report cites Bridgewater’s co-chief executive, Nir Bar Dea, who told the reporter “Ray no longer has the final word.” Dalio also spoke about his resignation on Twitter and he told the public that today was a special day for him because he “transitioned my control of Bridgewater to the next generation.” Dalio added:

Advertisement

I feel great about the people and ‘machine’ now in control. This transition moment is the culmination of a 47-year journey.

Dalio is also well known for being a critic of bitcoin (BTC) and blockchain technology. The hedge fund titan has explained on many occasions that he believes governments would eventually outlaw cryptocurrencies.

“I think at the end of the day if it’s really successful, they will kill it, and they will try to kill it,” Dalio said two months before bitcoin (BTC) reached $69K per unit. “I think they will kill it because they have ways of killing it,” he added.

Last February, Dalio noted that he had a “tiny percentage” of crypto in his portfolio because he wanted to “diversify.” However, he further stressed: “It’ll be outlawed, probably by different governments.” As far as Bridgewater is concerned, Dalio explained that the hedge fund’s co-CEOs Mark Bertolini and Nir Bar Dea would be in charge of senior management.

“Hopefully until I die, I will continue to be a mentor, an investor, and board member at Bridgewater, because I and they love doing those things together,” Dalio concluded in his remarks on Tuesday.

Tags in this story

ban bitcoin, Bitcoin, Bitcoin (BTC), blockchain technology, Bridgewater, bridgewater associates, Cryptocurrencies, Erik Schatzker, hedge fund, hedge fund founder, Mark Bertolini, Nir Bar Dea, outlaw BTC, Ray Dalio

Advertisement

What do you think about Ray Dalio stepping down as co-CIO of Bridgewater Associates? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Advertisement

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Advertisement

Continue Reading

Top posts

Sleuth Discovers Satoshi’s Long-Lost Bitcoin Version 0.1 Codebase, Raw Code Contains Bitcoin Inventor’s Never-Before-Seen Personal Notations Sleuth Discovers Satoshi’s Long-Lost Bitcoin Version 0.1 Codebase, Raw Code Contains Bitcoin Inventor’s Never-Before-Seen Personal Notations
1 million BTC3 hours ago

Sleuth Discovers Satoshi’s Long-Lost Bitcoin Version 0.1 Codebase, Raw Code Contains Bitcoin Inventor’s Never-Before-Seen Personal Notations

On October 7, 2022, a bitcoin supporter named Jim Blasko explained that he discovered the oldest upload of Bitcoin’s version...

Bankruptcy Court Publishes 14,000 Pages Of Celsius Customer Usernames And Trade History Bankruptcy Court Publishes 14,000 Pages Of Celsius Customer Usernames And Trade History
Alex Mashinsky8 hours ago

Bankruptcy Court Publishes 14,000 Pages Of Celsius Customer Usernames And Trade History

The crypto community is upset about a recent discovery stemming from the Celsius bankruptcy case as a court filing has...

Chiliz [CHZ] on-chain metrics to consider before going long this week Chiliz [CHZ] on-chain metrics to consider before going long this week
Altcoins10 hours ago

Chiliz [CHZ] on-chain metrics to consider before going long this week

CHZ is among the cryptocurrencies that have delivered the most gains recovering from June lows. It just concluded a 25%...

EU Bans Crypto Services For Russians In New Sanctions Over Ukraine Escalation EU Bans Crypto Services For Russians In New Sanctions Over Ukraine Escalation
annexation10 hours ago

EU Bans Crypto Services For Russians In New Sanctions Over Ukraine Escalation

An array of crypto-related services have been targeted in the latest round of sanctions on Russia approved by the EU....

The Hideaways Confirms Another Price Rise! Will Dogecoin Explode In 2023? Will LUNA Explode In 2023? We Take A Look At All 3 Projects. The Hideaways Confirms Another Price Rise! Will Dogecoin Explode In 2023? Will LUNA Explode In 2023? We Take A Look At All 3 Projects.
Uncategorized10 hours ago

The Hideaways Confirms Another Price Rise! Will Dogecoin Explode In 2023? Will LUNA Explode In 2023? We Take A Look At All 3 Projects.

The weekend was good so far for Dogecoin (DOGE) holders as DOGE price surged to make a new weekly high....

Why This Coin Is Still Attracting Terra (LUNA) And LUNA Classic (LUNC) Investors Why This Coin Is Still Attracting Terra (LUNA) And LUNA Classic (LUNC) Investors
Terra11 hours ago

Why This Coin Is Still Attracting Terra (LUNA) And LUNA Classic (LUNC) Investors

Over the last few weeks, the performance of the Terra (LUNA) and LUNA Classic (LUNC) coins has been very volatile....

Will This Coin Be The Ethereum (ETH) And Ripple (XRP) Killer? Read More Will This Coin Be The Ethereum (ETH) And Ripple (XRP) Killer? Read More
Bitgert11 hours ago

Will This Coin Be The Ethereum (ETH) And Ripple (XRP) Killer? Read More

If you have been around the crypto market for a while now, you must have come across Bitgert (BRISE). The...

Artificial Intelligence Market Size To Reach US$407 Billion By 2027 Artificial Intelligence Market Size To Reach US$407 Billion By 2027
Latest News11 hours ago

Artificial Intelligence Market Size To Reach US$407 Billion By 2027

The artificial intelligence market size is driven by big data, cloud applications, and services Artificial Intelligence is inarguably the most...

Court filing ‘doxing’ Celsius users draws questions on KYC, bankruptcy processes Court filing ‘doxing’ Celsius users draws questions on KYC, bankruptcy processes
Bankruptcy11 hours ago

Court filing ‘doxing’ Celsius users draws questions on KYC, bankruptcy processes

Court filing ‘doxing’ Celsius users draws questions on KYC, bankruptcy processes Samuel Wan · 26 seconds ago · 2 min...

Best New Crypto To Invest In? The Hideaways Up 450% And Going Strong As LUNA And LUNC Drop Best New Crypto To Invest In? The Hideaways Up 450% And Going Strong As LUNA And LUNC Drop
Uncategorized11 hours ago

Best New Crypto To Invest In? The Hideaways Up 450% And Going Strong As LUNA And LUNC Drop

LUNA and LUNC’s prices surged again recently, creating new weekly highs before the market experienced a pullback. Investors have been...

Mortgage Interest Rates Today, October 7, 2022 | Rates Go Up Mortgage Interest Rates Today, October 7, 2022 | Rates Go Up
rates11 hours ago

Mortgage Interest Rates Today, October 7, 2022 | Rates Go Up

Advertiser Disclosure Jason Stauffer Jason Stauffer Staff WriterAdvertisement Jason Stauffer is a personal finance reporter who previously covered the housing...

Binance resumes BSC bridge operation after 2M BNB exploit Binance resumes BSC bridge operation after 2M BNB exploit
Exchanges12 hours ago

Binance resumes BSC bridge operation after 2M BNB exploit

Binance resumes BSC bridge operation after 2M BNB exploit Christian Nwobodo · 41 mins ago · 2 min read The...

Crypto Exchange Okx Blocked By Russia’s Telecom Watchdog Crypto Exchange Okx Blocked By Russia’s Telecom Watchdog
ban12 hours ago

Crypto Exchange Okx Blocked By Russia’s Telecom Watchdog

Russian media and communications regulator, Roskomnadzor, has restricted access to the website of a major cryptocurrency exchange, Okx. The trading...

Grifters rug over 60 ETH from spoof token created after Binance exploit Grifters rug over 60 ETH from spoof token created after Binance exploit
Binance13 hours ago

Grifters rug over 60 ETH from spoof token created after Binance exploit

Grifters rug over 60 ETH from spoof token created after Binance exploit Oluwapelumi Adejumo · 3 hours ago · 2...

CryptoSlate Daily wMarket Update – Oct. 6: Market turns red as BTC dips below $20,000 CryptoSlate Daily wMarket Update – Oct. 6: Market turns red as BTC dips below $20,000
Featured14 hours ago

CryptoSlate Daily wMarket Update – Oct. 6: Market turns red as BTC dips below $20,000

CryptoSlate Daily wMarket Update – Oct. 6: Market turns red as BTC dips below $20,000 Monika Ghosh · 3 hours...

Scammers Are Targeting Cryptocurrency Scam Sites To Hijack Their Targeted Audience Scammers Are Targeting Cryptocurrency Scam Sites To Hijack Their Targeted Audience
Best Practices14 hours ago

Scammers Are Targeting Cryptocurrency Scam Sites To Hijack Their Targeted Audience

Cryptocurrency scam sites are being targeted by other scammers to hijack their traffic and their possible earnings. A recently detected...

Fully funded Chevening Clore Leadership Scholarship 2023/2 Fully funded Chevening Clore Leadership Scholarship 2023/2
Scholarships14 hours ago

Fully funded Chevening Clore Leadership Scholarship 2023/2

A Fully funded Chevening Clore Leadership Scholarship 2023 is currently ongoing for qualified international students. This scholarship programme is aimed...

Fidelity Launches Ethereum Index Fund — Sees Client ‘Demand For Exposure To Digital Assets Beyond BTC’ Fidelity Launches Ethereum Index Fund — Sees Client ‘Demand For Exposure To Digital Assets Beyond BTC’
bitcoin etf16 hours ago

Fidelity Launches Ethereum Index Fund — Sees Client ‘Demand For Exposure To Digital Assets Beyond BTC’

A filing with the U.S. Securities and Exchange Commission has shown that Fidelity looks to launch an investment product known...

Trending

Free Bitcoin MiningEarn from $50 to $75 daily with just your phone