Bitcoin (BTC) and the Broader Market Follows the U.S Equities into the Red

It was a bearish day for Bitcoin (BTC) and the broader crypto market on Wednesday.

Bitcoin fell by 1.65% to end the day at $41,676, with resistance at $42,500 pegging Bitcoin back on the day.

Elsewhere, Litecoin (LTC) slid by 3.77%, with Ethereum (ETH) ending the day down by 2.39%. Cardano (ADA) was amongst the biggest losers on the day, however, sliding by 8.29%.

Cryptos and Interconnectedness with the U.S Equity Markets

Movement across the crypto market was once more aligned with the U.S equity markets mid-week. Market angst over inflation and FED monetary policy continued to weigh on riskier assets.

The NASDAQ followed Tuesday’s 2.60% tumble with a 1.15% slide. Things were not much better for the Dow and the S&P500, which saw losses of 0.96% and 0.97% respectively.

For regulators and IMF, the recent trends have been a source of concern. Earlier this year, the IMF had raised concerns over the interconnectedness of the crypto and U.S equity markets. The IMF’s concerns were aligned with those of the Bank of England. Late last year, the BoE had called for a global economic framework to address risks to financial stability.

For the crypto market, increased regulatory chatter and activity has contributed to the bearish start to the year. Market sentiment towards FED monetary policy, which has weighed heavily on the NASDAQ, has also been key.

In spite of the bearish moves, the Bitcoin Fear & Greed Index has avoided a fall back to a current month low 10/100. At the time of writing, the Bitcoin Fear & Greed Index sat at 24/100. We’ve seen the index hover at current levels for a number of days. Regulatory chatter and any apprehension ahead of today’s U.S Congress subcommittee hearing on cryptocurrencies have failed to instill greater investor fear.

Fear And Greed Index LookIntoBitcoin - Google Chrome

For the Day Ahead

With market jitters over inflation likely to linger, economic data from the Eurozone and the U.S will draw interest later today.

Finalized Eurozone inflation and German wholesale inflation figures are due out from the Eurozone. From the U.S, jobless claims will also be key. Rising consumer prices and weaker labor market conditions would be a negative for riskier assets.

Following two days of heavy losses for the NASDAQ, however, dip buyers could deliver both the NASDAQ and cryptos with support.

Much will depend on updates from today’s U.S Congress subcommittee hearing. A key topic will likely be crypto mining and the impact on the environment. Bitcoin mining has had plenty of airtime in recent weeks…

At the time of writing, Bitcoin was up by 0.33% to $41,814. A break back through to $42,500 levels would bring $43,000 levels into play. Avoiding a fall back through today’s $41,798 pivot will be key, however. A pullback to sub-$41,500 levels would bring sub-$40,000 into play.

Looking at the U.S futures, the NASDAQ was up by just 26 points at the time of writing.

BTCUSD 200122

Over 64% Canadians Desire To Be Paid in Cryptocurrency: Survey

The discussion of cryptocurrency’s mainstream adoption has been going on forever and the only way to turn it into reality is by finding the easiest mass influential method.

Salary in Bitcoin?

That is the demand of Canadians at the moment. A survey of 1000 Canadians brought to light the demand and current use of cryptocurrency in the country and what they expect from the future.

Presently crypto payments aren’t accepted by every business in the country.

Although some retailers do accept crypto currently, it is yet to be accepted conventionally. And the process would have to start with none other than the king coin, Bitcoin.

Of the surveyed individuals, about 81% of them had used Bitcoin at some point in their life. Following by a gap of 33% is Ethereum which holds about a 48% usage domination.

Other altcoins used by the focus group included Dogecoin which was used by 28% of people, followed by Litecoin and Cardano at 18%

And their usage comes from the fact that 2021 had crypto hyped the most ever as over 58% of the users jumped into this space less than a year ago. Only 4% of the 1000 individuals were truly dedicated users as they had been using crypto for more than 5 years.

The duration of crypto being used | Source: Capterra

Alas, most of those who entered the crypto space did not join with the intention of truly utilizing the strengths of this technology. About 58% of respondents said that their motivation was to make profits through cryptocurrency.

However, some 26% of them truly looked forward to escaping the clutches of the regular banking system, and being paid in crypto would certainly enable them to do so.

Reasons for why cryptocurrency | Source: Capterra

This particular reason has been driving not just Canadians but also people from other countries to be paid in crypto.

Earlier last year Australian companies too began paying a portion of their employees’ wage in crypto. And the year before New Zealand made it legal for salaries to be given using digital currencies.

But This Is a Matter of Concern…

While 64% of the respondents refrained from using crypto due to a lack of knowledge, another 44% feared the end of cryptocurrencies’ demand in the future.

Reasons for why not cryptocurrency | Source: Capterra

Although another reason why being paid in cryptocurrencies such as Bitcoin and Ethereum would be risky is the rampant volatility of the market.
Within the span of just the last 3 months, Bitcoin shot up by 65% to touch $67,500 and then dropped back to $41.9k as of press time.

Bitcoin and Ethereum’s volatility – Source: FXEMPIRE

Thus, maybe looking into a more stable form of cryptocurrency such as stablecoins (USDC, USDT, etc.) would be advisable for paying wages in crypto.

Regulatory Chatter Weighs on the Major Cryptos with the Exception of Cardano (ADA)

It was a bearish session for Bitcoin (BTC) and the broader crypto market on Monday. Chatter from DAVOS 2022 over the need for unified action on cryptocurrencies likely contributed to the broad-based pullback.

Amongst the first speakers at this year’s virtual event was Indian Prime Minister Modi. We reported this morning of the Prime Minister’s call for unified global action on cryptocurrencies. At the turn of the year, news had hit the wires of the Indian government creating a FINTECH division to keep up with cryptos.

Others have also made calls for a global regulatory framework, which would stamp out regulatory arbitrage.

Monday’s Crypto Market Movers

The total crypto market cap briefly fell back to sub-$2,000bn levels before ending the day at $2,005bn.

Chainlink (LINK) led the way down, sliding by 6.40%. Things were not much better for Binance Coin (BNB) (-4.69%), Crypto.com Coin (CRO) (-3.93%), and Ethereum (ETH) (-4.15%).

For CRO the losses could have been far more significant. On Monday, news had hit the wires of Crypto.com suspending withdrawals. The decision to suspend was in response to user claims of stolen funds.

Bitcoin saw a relatively modest 2.03% loss on the day. In spite of the Bitcoin pullback and negative sentiment, the Bitcoin Fear & Greed Index currently sits at 24/100 and in the red. While up from 10/100 on 8th January, a level in the red and close to or at zero indicates investor fear of further price declines.

Bitcoin Fear & Greed Index b

Cardano (ADA) Bucks the Trend

Bucking the trend on the day were Cardano (ADA) and Litecoin (LTC). While Litecoin rose by 3.17%, ADA surged by 13.53% to end the day at $1.603.

For Cardano, there’s been plenty of news chatter and activity to support the latest breakout. On Monday, news of the first Metaverse project launching on the Cardano blockchain delivered the upside.

For the Day Ahead

It’s been a mixed start to the morning for the broader crypto market. Chatter from DAVOS 2022 will likely continue to influence, particularly if more world leaders call for unified action on cryptos. We may also see some market jitters ahead of Thursday’s U.S Congress subcommittee hearing on cryptocurrencies.

From the U.S, there are no major stats to influence market sentiment towards FED monetary policy. With the prospect of 4 rate hikes this year, however, it’s still negative for riskier assets. Support could come from the U.S equity markets, however.

At the time of writing, Bitcoin (BTC) was up by 0.34% to $42,368. We continue to see a move back through to $43,500 and last week’s high $44,443 key to any run at this month’s high $47,979.

A broad-based pullback and a Bitcoin fall back to sub-$41,500 levels, however, would bring sub-$40,000 back into play. This week, much will likely depend on the outcome to Thursday’s subcommittee hearing and any concrete plans from DAVOS 2022.

BTCUSD 180122 Daily Chart

Metaverse, NFTs and Cryptos Are the Next Big Thing for Retail Giant – Walmart

Walmart Inc, the largest retailer in the US, has quietly filed a slew of new trademark applications with the United States Patent and Trademark Office (USPTO) for selling virtual goods including electronics.

Apart from its own metaverse, another separate application showed that the company is gearing up to establish its own cryptocurrency and non-fungible tokens (NFTs).

Seven trademark applications were submitted in December 2021, a CNBC report said. In an effort to “continuously explore emerging techs,” Walmart has been testing new ideas on virtual shopping.

“Some ideas become products or services that make it to customers. And some we test, iterate, and learn from,” the company told the publication.

The company also filed three applications under its digital advertising project, dubbed “Walmart Connect”. “Verse to Store,” “Verse to Curb” and “Verse to Home” were filed for the shopping category, according to Bloomberg.

Walmart has been dipping hands into the crypto space ever since its Chief Financial Officer Brett Biggs said in December that the company is planning to allow shoppers to pay in cryptocurrencies like Bitcoin and Ethereum, provided if customers’ demand rises.

In September’21, a hoax news release claimed that Walmart would begin accepting payments in Litecoin, which triggered the cryptocurrency by 30 percent before the retail giant said that the announcement was fake.

More Retailers Join the ‘Meta’ Club

Walmart is very on-trend albeit arriving fashionably late to the metaverse conversation. The company has become the latest to join the retail metaverse run with Nike, Adidas, Ralph Lauren, Facebook, and Disney.

Global sportswear giant Nike recently announced, “NikeLand”, its own metaverse on the Roblox gaming platform. Players can utilize accelerometers in their mobile devices to convert offline movement to online play. In December, Nike bought a virtual sneaker company – RTFKT, for an undisclosed sum.

Similar metaverse trademarks were filed in recent weeks by other apparel retailers such as Ralph Lauren, in an effort to open their own version of the virtual shop.

When it comes to the NFT marathon, retailers such as Gap, Adidas, and Under Armour have already debuted their NFT sales on the OpenSea marketplace.

Other companies are also looking at the success of Nike’s and Adidas’s NFTs and are rushing to the nearest blockchain.

Is the Future of Retail Virtual?

The way consumers shop at stores is evolving and that is definitely toward a connected showroom environment that includes digital and physical retailing.

Metaverse is an omnichannel atmosphere, where buyers use augmented and virtual reality to digitally engage with their surroundings. This idea also poses the concept of a direct-to-avatar business model, where people can interact digitally using avatars.

For instance, customers can even point their smartphone’s camera toward their feet and see on their screen how the new pair of sneakers might look like, before heading to checkout.

One Twitter user posted a video demonstrating how the future of Walmart metaverse would possibly work.

All of this means that the retailers would need to create a positive metaverse – presence and convert the existing online experience, in this new virtual world. The metaverse is much of a “to be continued” model as of now so that retailers shouldn’t be struggling to come up with avatar-fitting jackets or virtual shops.

Secret (SCRT) Jumps 16% on Friday, as Film NFT Chatter Builds ahead of Tarantino NFT Sale

It was a bullish Friday session for the crypto market on Friday. Litecoin (LTC) ended the day up by 5.86%, with Bitcoin (BTC) and Ethereum (ETH) seeing gains of 1.19% and 2.12% respectively.

While there has been plenty of news relating to interconnectedness between the crypto and U.S equity markets, the crypto market also has its own key drivers.

Amongst these are regulatory activity, adoption, and exchange listings.

On Friday, Secret (SCRT) surged by 16.3% to end the day at $8.63. It could have been an even more impressive session, with SCRT striking a new ATH $11.25 on the day.

Just last week, we looked at SCRT price action and highlighted that a breakout from $7 levels would bring October’s previous ATH $11.08 into play. It’s been an impressive start to the year for SCRT, which is continuing its run off last year’s 733% gain. At the start of the year, we had also reported SCRT’s move into CoinMarketCap’s top 100 by market cap. The move put SCRT on the crypto radar.

At the time of writing, SCRT is ranked #81, with a market cap of $1,305m. SCRT has rallied by an impressive 70% year-to-date. By contrast, Bitcoin was down by 6.7% year-to-date to Friday’s close.

Quentin Tarantino’s Pulp Fiction NFTs Drive SCRT to a New High

Earlier in the month, news hit the wires of Tarantino’s Pulp Fiction NFT sale going ahead later this month. Significantly, the 7 NFT collection is called “Secret NFTs” and will be launched on the Secret Network blockchain. Pre-registration took place before 10th January, with the 7 NFT auction set to take place between 17th and 31st January. The Secret NFT collection is based on Ethereum (ETH) blockchain.

Tarantino and Secret’s NFT launch will have two components. Uncut scenes from the movie and secret content, only accessible by the buyer. A key attribute of the Secret (SCRT) is that users can build and use applications “that are both permissionless and privacy-preserving”. Secret (SCRT) therefore protects users and also secures applications. The goal is to allow users to control how their data is used and viewed.

For Secret, the NFT sale has drawn significant interest. Tarantino is not the only Hollywood great exploring NFTs, however.

Film Goes Blockchain to Decentralize the Industry

Late last year, news hit the wires of BlockbusterDAO preparing a $5m bid to buy Blockbuster Video. The DAO is looking to revolutionize the film industry by turning Blockbuster Video into the “first-ever DeFilm (Decentralized) streaming platform and a mainstay of both Web3 brands and products”.

Voters on the network would be able to influence a final script and also have a say on casting and more. NFTs would undoubtedly come into play as a funding mechanism. Ultimately, BlockbusterDAO and others could prize the power from the Hollywood elite and decentralize the industry.

Just yesterday, there was news of a new platform named FF3, which wants to give filmmakers a platform to finance movies with NFTs. For investors, there would be a share of film revenues and, in addition, ownership of collectible NFTs that could be sold in the NFT marketplace. The platform’s first project, “Dead of Winter” is scheduled to launch later this month.

Secret Price Action

At the time of writing, SCRT was up by 1.14% to $8.723. A move back through to $10.00 levels would bring Friday’s ATH $11.25 into play. With the film industry abuzz at the prospects of decentralization, Secret is well placed with its blockchain characteristics. Much will now hinge on the success of the Secret NFT sale this month.

A successful auction and SCRT could well become a key force in a film industry revolution.

SCRTUSD 150122 Daily

Crypto – U.S Market Correlation Continued on Friday, Delivering Bitcoin (BTC) Support

It was a bullish session for Bitcoin (BTC) and the broader crypto market on Friday. Market jitters over FED monetary policy and hawkish FOMC member chatter from Thursday abated at the end of the week.

On Wednesday, U.S inflation looked to have change the trajectory of interest rates. A number FOMC members spoke of the need for possibly 4 rate hikes to curb inflation on Thursday. In December, the U.S annual rate of inflation had hit the highest level since 1982.

Hawkish chatter had left Bitcoin in the red in response. The moves across the crypto market were aligned with those of the U.S equity markets, which also suffered heavy losses on the Day. Bitcoin fell by 3.02% on Thursday, with the NASDAQ ending the day down by 2.51%.

Greater interest in movement across both the U.S equity and crypto market comes following concerns highlighted by the IMF this week over interconnectedness between the two markets.

Movement across the markets on Friday, however, were positive. The NASDAQ rose by 0.59% with Bitcoin ending the day up by 1.19%.

Elsewhere, Litecoin (LTC) ended the day up by 5.86%, with Ethereum (ETH) up by 2.12%. In response to the market moves, the crypto market cap rose from a Friday low $1,975bn to a day high $2,087bn.

Coming off the back of the shift in market sentiment, the  Bitcoin Fear & Greed Index increased from 21/100 to 23/100. While up on the day, a level in the red and close to or at zero indicates investor fear of further price declines. A move back through to 30 levels, mid-orange, would be a buy signal on a trend basis.

Bitcoin Fear & Greed Index b

For the Day Ahead

With the global financial markets closed, there are no key drivers for the markets to consider over the weekend. The lack of influence from the U.S markets will leave investors to consider recent regulatory activity and what impact a more aggressive FED move on interest would mean for the crypto markets.

At the time of writing, Bitcoin down by 0.16% to $43,019. A move back through Thursday’s current week high $44,443 would bring $45,000 levels into play for the first time since 5th January. With sentiment across the crypto market still bearish, however, plenty of support would be needed for a breakout from $43,500 levels.

A fall back to sub-$42,000 could see Bitcoin test support at $40,000 before any recovery.

BTCUSD 150122 Daily Chart

Top 3 Cryptos to Hold Over 2022

A new year has arrived, and the cryptocurrency market remains unstoppable in terms of volatility, given that assets like Bitcoin (BTC) and Ether (ETH) keep showing wild swings across the board.

With a new 365-days period in place for the life of every investor or a new one who wants to join the crypto bandwagon, questions start to arise on whether one should allocate the funds to gather profits from such volatility.

However, the most critical factor to consider when dealing with digital assets is the concept of “HODLing” or holding a crypto investment. There are a plethora of instruments to invest in, and the major cryptos by market capitalization keep catching the attention.

Bitcoin? ADA? Bitcoin Cash? Litecoin? Let’s dig into the trending coins to watch for 2022 and why they could be a must to pay attention to when trading, or most importantly, HOLD.

Cardano (ADA): A Disappointment That Could Turn Into a Profitable Opportunity

The cryptocurrency backed by the Cardano Foundation managed to hit last year the $3 neighborhood, but then it started to plummet significantly to move back into the unconscious territory around $1.25.

Crypto holders were absolutely disappointed because most of them saw ADA as a long-term opportunity to hold the digital asset and profit from such a steady rise.

However, the fear-fueled increased the shorts in Cardano coin, which is why it consolidated back below the 200-day simple moving average.

From a fundamental point of view, Cardano blockchain had several upgrades to its network, including a hard fork deployed at mid-year.

AFX FXEmpire
Source: FXEMPIRE

Still, the technical perspective puts the $1.10 level as a tough nut to crack to the downside, as the demand surged across the board with buyers so interested in capping any sellers’ attempt to take ADA below the $1.00 threshold.

Now, the decline seems to be another opportunity to “buy the dips” for ADA, and the technicals are starting to align to the upside, with the RSI indicator at the daily chart heading northwards.

Litecoin (LTC): The Calm Before the Storm?

LTC was hit last year by fake news that temporarily bolstered its price action with wild swings that, in the end, take it to a nowhere zone. Fake endorsements from Walmart or related helped the price recover in minutes from lows that Litecoin hasn’t managed to cover at all.

As of press time, LTC is exchanging hands at around $144.75 and looks forward to keeping untouched the support area of $120. From a technical point of view, the cryptocurrency wants to consolidate above the $200 zone and could aim to hit the highs again from November 2021.

LTC FXEmpire
Source: FXEMPIRE

If that scenario materializes, a golden crossover with the 50 and the 200 SMAs could happen at the daily chart, fueling the bullish price action and eventually taking the crypto to new highs, rising towards the $380 in a first degree, followed by the highs of May 2021 at around $413.91.

The RSI indicator supports the bullish scenario, as the slope points to the upside and stays in the positive territory.

Bitcoin (BTC): There Is Not Much To Say – Charts Talk By Themselves

2021 was a rollercoaster year for the world’s biggest cryptocurrency by market cap, as China and coronavirus’ vowes made the headlines and led the price action across the sphere. Now, as the BTC exchanges hands around the $43,000 zone, investors are looking to buy the dips again.

In fact, Bitcoin is hovering around another significant bottom it made between September and October last year in the midst of the renewed crackdown launched by the Chinese government.

BTC FXEmpire
Source: FXEMPIRE

If there is a buying resurgence at the current stage, the eyes will be on the critical threshold of $70,000 to refresh all-time highs.

Conclusion

With an interesting year to come in terms of NFT, metaverse, and altcoins adoption, the biggest cryptos by market capitalization could gather steam and eventually become favored by the mainstream interest among the ones who get in touch with the crypto sphere.

Of course, digital assets like Bitcoin and ADA are just the doors for the people to join the bandwagon of a broad offering of cryptos.

U.S Tech Rout Sinks Bitcoin (BTC) and the Broader Crypto Market

Crypto market relief stemming FED Chair Powell testimony on Tuesday was short-lived. A 2-day winning streak came to an end on Thursday, with a 2.51% slide in the NASDAQ weighing on the crypto majors.

Hawkish chatter from FOMC members weighed on riskier assets on Thursday. A number of FOMC members talked of the need for a March rate hike. Amongst them, some talked of the need for more than 3 hikes this year to curb inflation. The comments were in contrast to FED Chair Powell’s testimony that had supported riskier assets mid-week.

Bitcoin (BTC) fell by 3.06% to end the day at $42,576. Elsewhere, Chainlink (LINK) tumbled by 7.05% with Cardano’s ADA sliding by 6.09%. Things were not much better for Ethereum (ETH) and Litecoin (LTC), which ended the day down by 3.89% and by 3.66% respectively.

The Thursday sell-off saw the crypto market cap fall from a day high $2,119bn to a low $1,992bn before a partial recovery.

In spite of the pullback, the Bitcoin Fear & Greed Index remained unchanged at 21/100 and in the red. A level in the red and close to or at zero indicates investor fear of further price declines.

Bitcoin Fear & Greed Index b

Interconnectedness with U.S Markets to Raise More Regulatory Concerns

Earlier this week, the IMF had raised concerns over the interconnectedness of cryptos and the global financial markets. Thursday’s moves across the U.S equity markets and the crypto market provided further evidence of interconnectedness. The IMF’s comments had followed on from concerns raised by the Bank of England over cryptos and UK financial stability.

Movements across the global financial markets and the crypto market will likely give regulators more reason to move quickly towards a global regulatory framework for the crypto market.

For the Day Ahead

With movements across the crypto market now hinged on market sentiment towards FED monetary policy, we can expect more influence from U.S economic data and FOMC member chatter near-term.

Later today, U.S retail sales figures will give a sense of what impact inflation is having on consumer spending. Any FOMC member chatter will also need considering

For Bitcoin, a break back through to $44,000 levels would be needed to bring $45,000 levels and January’s high $47,979 into play. With market jitters over FED monetary policy in play, however, we can expect plenty of resistance at Thursday’s high $44,443.

A fall back to sub-$41,500 levels would bring sub-$40,000 and Monday’s low $39,668 into play.

At the time of writing, Bitcoin was down by 0.25% to $42,470.

BTCUSD 140122 Daily Chart

Bitcoin (BTC) and the Broader Market Track the U.S Equity Markets into Positive Territory

It was a bullish session for Bitcoin (BTC) and the broader crypto market on Wednesday. Market jitters over FED monetary policy continued to recede following FED Chair Powell’s testimony on Tuesday.

While the FED Chair had talked of rising interest rates, Powell held back from talking of the need for more hikes than had been previously projected. For the U.S equity markets and the crypto markets this had been key.

On Wednesday, the focus then shifted to U.S inflation that could change the trajectory of interest rates. The global financial markets and the crypto markets responded favorably to the numbers. This was in spite of the U.S annual rate of inflation hitting its highest level of 7.0% since 1982.

Bitcoin rose by 1.27% in the 30 minutes following the release of the inflation figures. More significantly, Bitcoin ended the day up by 2.75% to $43,920. A break back through to $43,000 levels and a brief visit to $44,000 levels were the highlights on the day. From Monday’s $39,668 low to Wednesday’s close, Bitcoin was up by 10.72%.

In spite of the pickup from sub-$40,000 levels and a visit to $44,000 levels, however, the  Bitcoin Fear & Greed Index continued to sit in the red at 21/100. A level in the red and close to or at zero indicates investor fear of further price declines.

Bitcoin Fear & Greed Index b

Broader Market Reaction to the U.S Inflation Figures

Elsewhere, Binance Coin (BNB) followed Tuesday’s 9.11% rally with a 5.26% gain. Ethereum (ETH) and Litecoin (LTC) also found strong support, rising by 4.10% and by 7.86% respectively.

Cardano’s ADA was one of the front runners, however, rallying by 10.52%.

Following the crypto market reaction to the FOMC meeting minutes last week, monetary policy influence was evident once more. On Tuesday, the IMF had raised concerns over the interconnectedness of cryptos and the global financial markets.

The total crypto market cap has risen from a pre-Powell testimony low $1,906bn to a post-U.S inflation high $2,110bn.

Across the equity markets, the reaction was less euphoric but positive nonetheless, with the S&P500 rising by 0.28%. The NASDAQ and the Dow ended the day up by 0.23% and by 0.11% respectively.

For the Day Ahead

The focus now shifts to U.S wholesale inflation figures for December. Softer wholesale inflation figures would suggest easing pressure on consumer prices, which should be crypto positive.

For Bitcoin, a breakout from Wednesday’s high $44,294 and a return to $45,000 levels would support a continued run towards the current month high $48,573. Avoiding a fall back to sub-$43,000 levels will be key, however.

At the time of writing, Bitcoin was down by 0.37% to $43,757.

BTCUSD 130122 Daily Chart

Bitcoin (BTC) and the Broader Market Receive a FED Chair Booster

It was a mixed session for Bitcoin (BTC) and the broader crypto market on Tuesday. Market jitters over FED monetary policy had continued to weigh on the crypto markets ahead of FED Chair Powell’s testimony on Tuesday.

FED Chair Powell Testimony and Impact

Powell’s comments were market friendly, however, providing Bitcoin and the crypto majors with much-needed support.

Market reaction to testimony was also positive across the U.S equity markets. The FED Chair’s view that the economy can cope with tightening monetary policy was key. Powell noted that the economy has expanded rapidly in spite of COVID-19. On the inflation front, Powell said that inflation needs more attention. The FED wants to ensure that high inflation does not become entrenched. Powell also noted that, while a move on monetary policy to normal is needed, it’s a long road to normal.

The upside on the day was modest by crypto standards, however, with U.S inflation figures due out later today. Another pickup in inflationary pressure would support U.S bank forecasts of 4 rate hikes this year. On Monday, news of Goldman Sachs projecting 4 rate hikes had sent Bitcoin to sub-$40,000 levels for the first time since September.

In spite of FED Chair Powell’s comments, the Bitcoin Fear & Greed Index fell back from 23/100 to 21/100, breaking the upward trend seen since an 8th January low of 10/100. Uncertainty ahead of today’s U.S inflation figures likely contributed. A level in the red and close to or at zero indicates investor fear of further price declines.

Bitcoin Fear & Greed Index b

Lawmakers Push for Updates on the FED’s Review on CBDCs and Stablecoins

While the focus of Powell’s testimony was largely on tackling inflation and monetary policy, digital assets were also discussed.

Lawmakers raised questions on why the FED had yet to release its review on central bank digital currencies (CBDC) and stablecoins. While Powell stated that the FED will release the review in the coming weeks, Senator Brown talked up the dangers of cryptos to the U.S economy. Senator Brown is Chairman of the U.S Senate Committee on Banking, Housing, and Urban Affairs.

Senator Brown’s has shared his views on cryptos before. Last month, the Senator had been less than impressed during a Stablecoins committee hearing. The latest negative comments came in the wake of news hitting the wires of a U.S Congress sub-committee preparing a hearing on the impact of cryptos and crypto mining on the environment.

Bitcoin (BTC) Price Action

In response to FED Chair Powell’s comments, Bitcoin rallied by 2.35% in the following hour, reversing a 1.11% fall to a day low $41,279. It’s worth noting that Bitcoin slid by 2.7% in response to the FOMC meeting minutes last week.

On Tuesday, Bitcoin ended the day up by 2.18% to $42,743. In spite of the gain, Bitcoin was still down by 7.48% year-to-date.

Elsewhere, Binance Coin (BNB) rallied by 9.11%, with Ethereum (ETH) and Litecoin (LTC) ending the day with gains of 5.10% and 4.07% respectively.

For the Day Ahead

The focus now shifts to U.S inflation figures for December. While FED Chair Powell’s comments were market friendly, another spike in U.S inflation could force the FED into a more aggressive path towards normalization. This would be crypto market negative.

For Bitcoin, another fall to sub-$40,000 levels would test support once more. Another pickup in inflationary pressure would likely see a Bitcoin pullback through Monday’s low $39,668 before buying opportunities present themselves. A move through to $43,000 levels, however, would bring $45,000 levels into play and support a shift in market sentiment.

At the time of writing, Bitcoin (BTC) was up by 0.34% to $42,887.

BTCUSD 120122 Daily Chart

Cryptos Waking Up From Stagnation Phase As BTC Trades Above $42K

The bullish mood dominates the scene across the board in the cryptocurrency market, as the odds favor the buyers in the world’s largest digital asset by market cap, Bitcoin (BTC).

The crypto is now exchanging hands at around $42,858, following a strong daily surge of over 2.5%.

Bitcoin FXEmpire
Source: FXEMPIRE

Ether (ETH) is also walking the same steps of BTC in terms of tone, as it trades above $3,244 after soaring by over 5% during Tuesday, taking the crypto to the highs in the RSI indicator at the H1 chart.

In fact, such an oscillator is signaling overbought conditions from a broad perspective.

Powell, Again, The Headliner

Coming back to Bitcoin, the king cryptocurrency is gathering steam in the midst of a renewed interest of bids at the current stage, as the digital asset is looking to crack the stagnation phase it had been trapped in since last week.

The fundamental catalyst comes again from the US Federal Reserve, specifically from its chairman, Jerome Powell, who saw his tenure at the central bank renewed for another four years.

The Fed’s chairman said that the country would likely remain in a low-interest environment, but at least under a three-hike rates regime, as most FOMC members expect. Such comment helped push the US dollar lower and renewed the buying interest across the crypto sphere, even for the altcoins.

LTC Heads Toward the 200 SMA

Moving onto other assets, Litecoin (LTC) is catching some breath above the 50-hr simple moving average and quotes around $131.40 after surging above 3% during Tuesday.

Litecoin FXEmpire
Source: FXEMPIRE

Also, the price is on the verge of hitting the 200-hr simple moving average anytime soon. The RSI indicator is treading the overbought waters.

The risk to the downside will increase once the crypto breaks below $128, which could open the doors for LTC to plummet towards $124 in a first degree, followed by the $120 psychological level.

Bitcoin (BTC) Recovers from sub-$40,000 ahead of FED Chair Powell Testimony

It was a particularly choppy day for Bitcoin (BTC) and the broader crypto market on Monday. Following last week’s heavy losses, market jitters ahead of key events in the week ahead continued to weigh. This week, the markets are looking towards FED Chair Powell testimony later today and U.S inflation figures due out tomorrow.

On Monday, news of Goldman Sachs projecting 4 rate hikes by the FED sent the crypto markets deep into the red. Bitcoin (BTC) tumbled to sub-$40,000 levels for the first time since September before finding support.

Yesterday, we had looked at the Bitcoin Fear & Greed Index, which currently sits in the deep red at 23/100. Any move towards 30 levels, to signal a Bitcoin (BTC) rebound, hinges on Powell’s testimony today and inflation figures tomorrow.

Bitcoin Fear & Greed Index b

A continued spike in U.S inflation will likely force the FED to take a more aggressive stance on policy to curb price pressures. The markets will be looking for guidance from the FED Chair today.

Bitcoin (BTC) Price Action

On Monday, Bitcoin (BTC) ended the day down by 0.02% to $41,847. Earlier in the day, Bitcoin (BTC) had fallen to an intraday low $39,673 before briefly revisiting $42,000 levels. Support at around the $40,000 level was key, with Bitcoin (BTC) spending a matter of minutes at the sub-$40,000 level.

Investor optimism of a bullish year ahead supported the rebound, which was aligned with the NASDAQ recovery from the red.

BTCNASDAQ 110122

Elsewhere, Ethereum (ETH) fell by 2.16%, with Binance Coin (BNB) and Litecoin (LTC) ending the day with losses of 3.12% and 3.35% respectively.

Amidst the doom and gloom, however, Chainlink (LINK) continued to find support, rising by 1.83%. Last week, Chainlink (LINK) had surged by 25.8%.

For the Day Ahead

Ahead of FED Chair Powell’s testimony, ECB President Lagarde is scheduled to speak today. In stark contrast to the FED, the ECB has stood by its view that the spike in consumer prices is transitory. The markets will be looking for any shift in view that could test support for riskier assets early in the day.

Ultimately, however, it will be FED Chair Powell’s testimony to lawmakers that will be key for the markets today.

For Bitcoin (BTC), another fall to sub-$40,000 levels would test support once more. A particularly hawkish FED Chair would likely see a Bitcoin (BTC) pullback through yesterday’s low $39,668 before buying opportunities present themselves.

At the time of writing, Bitcoin (BTC) was down by 0.08% to $41,799.

BTCUSD 110122 Daily Chart

PayPal Inches Closer to Launching its very own Stablecoin

There’s been plenty of news in recent weeks on stablecoins. Late last year, Visa stated that “stablecoins might become the medium of exchange rather than cryptocurrencies”. The announcement came following Visa’s launch of its crypto advisory service.

Stablecoins are virtual currencies. Unlike cryptos such as Bitcoin (BTC) and Litecoin (LTC), the values are pegged to traditional assets. These can include the U.S Dollar, in the case of USD Tether (USDT) or even gold in the case of gold-backed Paxos Gold (PAXG) stablecoin.

What is PayPal and its Stablecoin Plans?

PayPal Holdings Inc. (PYPL) is a U.S financial tech company that operates a global online payments system. The platform enables users to send and receive money and make online payments.

Launched in 1998, PayPal Holdings Inc. is listed on the NASDAQ and had a reported revenue of $21.45bn in 2020.

In response to the greater adoption of cryptos, PayPal entered the crypto space in late 2020. PayPal has more than 377 million users worldwide. In spite of this, it reportedly took 7-years to move from concept to product.

Following the successful entrance of PayPal into the crypto space, it may take much less time for PayPal’s stablecoin to become a virtual reality.

Overnight, news hit the wires of PayPal planning to launch its own PayPal Coin backed by the U.S Dollar. The report highlights that “evidence of PayPal’s exploration into building its own stablecoin was first discovered in the company’s iPhone app by developer Steve Moser”.

It remains unclear, however, how close PayPal is to an actual launch of PayPal Coin. According to a Bloomberg report, PayPal’s senior VP of crypto, Fernandez Da Ponte, had said that an “appropriate stablecoin purpose-built for payments had yet to be identified”. He added that “the appropriate stablecoin would need to support payments at scale and have security”. PayPal would reportedly also need “to have clarity on regulation, the regulatory frameworks, and the required type of licenses”.

Regulation Seen as a Hurdle for Stablecoins

Late last year, the views of Fitch Ratings on regulation and stablecoins had hit the news wires. Fitch Ratings sees greater regulatory certainty over the status of stablecoins and their users as a market positive. Regulatory risk, that has hit the broader crypto market at the turn of the year, has reportedly “deterred many financial institutions from engaging with stablecoin operators”. Late last year, we had discussed the possible negative impact of regulator chatter and activity on the crypto market. An appropriate global regulatory framework, which is neither punitive nor lax, however, would likely support cryptos and stablecoins in particular. As Fitch Ratings points out, regulatory certainty will be key.

Bitcoin (BTC) and the Broader Crypto Market Sink Again as Investor Jitters over FED Policy Lingers

It’s been a particularly bearish start to the year for Bitcoin (BTC) and the broader market. As bullish BTC price predictions for 2022 hit the news at the turn of the year, a New Year’s Day rally had provided hope.

The 1st January rally, however, was an outlier in what has been an active 1st week of the year on the news front.

A marked increase in regulatory chatter and activity coupled with FED monetary policy have hit the markets early in the year.

Monetary Policy

On Wednesday, the FED released its FOMC meeting minutes from the December meeting. Catching the markets off-guard, Committee members talked of the need to lift rates sooner to curb inflation. There was also the talk of needing to begin reducing the balance sheet.

Bitcoin (BTC) slumped by 2.7% within the first hour of the FOMC meeting minutes being released. On the day, Bitcoin (BTC) ended the day down by 5.19% and things were not much better elsewhere.

Ripple’s XRP fell by 5.92%, with Litecoin (LTC) and Ethereum (ETH) seeing losses of 7.59% and 6.50% respectively on Wednesday.

Regulator Activity

Ahead of the FOMC meeting minutes that caused a market stir, regulatory chatter and activity had also tested crypto market support.

At the turn of the year, news hit the wires of Indian tax authorities searching 6 exchanges on suspicion of tax evasion. There was also news of a U.S Congress sub-committee preparing to hold a hearing on the impact of crypto mining on the environment.

All of this, coupled with the talk of a global regulatory framework and the SEC lawsuit against Ripple Lab delivered early pressure.

Bitcoin Price Action

On Friday, Bitcoin (BTC) fell by 3.61% to end the day at $41,548. It was a 6th consecutive day in the red and left Bitcoin (BTC) down 10% for the first 7-days of the year. The early pullback has been in stark contrast to the first week of 2021, when Bitcoin (BTC) had surged by 36%.

Key through the Friday session was avoiding a return to sub-$40,000 levels. Finding support at $40,500, Bitcoin (BTC) ended the day at $41,000 levels.

Having seen red for 6 days in a row, avoiding a return to Friday’s low $40,750 will be key. For the bulls, a move back through Friday’s high $43,136 would be needed to avoid further losses.

At the time of writing, Bitcoin (BTC) was down by 0.61% to $41,799.

BTCUSD 080122 Daily Chart

Elsewhere

Ethereum (ETH) slid by 6.08%, to lead way down on Friday. Bucking the trend at the start of the year, however, has been Chainlink (LINK). Following a 1.85% gain on Friday, Chainlink (LINK) is up 33% year-to-date. News of an Ethereum (ETH) whale purchasing $4.6m worth of LINK has contributed to the upside. Chainlink’s (LINK) decentralized oracle network continues to draw interest, contributing to this week’s gains.

At the time of writing, Chainlink (LINK) was up by 1.31% to $26.29. A breakout from Wednesday’s high $27.45 would bring $30 levels into play, last struck in mid-November. A pullback to sub-$20 levels, however, would test support at December’s low $15.38.

LINKUSD 080122 Daily

Crypto Meltdown Remains Alive With ETH As the Biggest Loser of the Day

The crypto bloodbath keeps underway across the biggest digital assets by market capitalization, with Ether (ETH) becoming one of the major losers across the sphere.

The US Federal Reserve (FED) and its recently released minutes are attributed as the main catalysts behind the buying interest around the US dollar. In fact, the US central bank hinted at a faster timetable to start hiking the interest rates this year.

Ether Under Heavy Selling Pressure

ETH is exchanging hands at around $3,386, approximately down -4% on the day as of press time. The price managed to pierce below the $3,650 level, which was a critical support zone established at the end of last year.

Ethereum FXEmpire

On the other hand, Bitcoin (BTC) entered a rangebound stage around $42,900, still -1.21% down on the day following a strong decline from the highs at $47,076. Now, the world’s biggest crypto by market cap keeps a critical support at the $42,800 level, fueling the interest in the buyers, although it’s limited.

Next on the line is Litecoin (LTC), which remains capped by the psychological zone of $135 after it plummetted from the highs around $150, and its daily change stands at $134.87.

In the crypto assets that trade against BTC, Ether plunged over 5% following the FOMC’s minutes. “There’s a real risk now, I believe, that inflation may be more persistent and…the risk of higher inflation becoming entrenched has increased,” Jerome Powell, Fed’s Chairman, noted in the statement.

Altcoins Sphere In Bears’ Eyes

In the altcoins sphere, Chainlink (LINK) loses bullish ground after dropping -4.92% on the day to quote at around $23.98.

LINK FXEmpire

From a technical point of view, the cryptocurrency attempts to consolidate below the 50-period simple moving average at the H4 chart. Then, it tries to reach the 200-period simple moving average, fueled by a negative RSI indicator in the same timeframe.

Moreover, Cardano (ADA) wants to recover above $1.24 following a strong fall from $1.34, where it found dynamic resistance.

FED Rate Hike Plans Leave Bitcoin (BTC) and the Broader Market Under Pressure

Bitcoin (BTC) and the broader crypto market saw deep red on Wednesday. Late in the day, the FED released its FOMC meeting minutes from the 14th-15th December meeting.

Crypto investors looking to be free of central bank action will have been disappointed by the market reaction to the minutes.

Market reaction on Wednesday also highlights the fact that cheap money has been funding the crypto markets. In November, Bitcoin (BTC) had struck an ATH $68,958 at a time when the FED’s Funds Rate sat at just 0.25%.

The FOMC Meeting Minutes and Outlook on Interest Rates

On Wednesday, the FOMC meeting minutes caught the global financial markets by surprise. Through much of 2021, FED Chair Powell had reassured the markets of the status quo on interest rates for the foreseeable future. A sharp pickup in inflationary pressure, however, muddied the waters.

After having shifted from a view that inflation was transitory, FOMC economic projections pointed to the need for a tightening of monetary policy. Cheap money has not only been funding the crypto markets, but also the global equity markets.

Key for the crypto market was the prospects of earlier and faster rate hikes than had previously been anticipated.

The Market Reaction to Interest Rate Outlook

On Wednesday, the NASDAQ slid by 3.34% in response to the more hawkish than expected minutes. The Dow and the S&P500 also saw red, with losses of 1.07% and 1.94% respectively.

Bitcoin Price Action

For Bitcoin (BTC) and the broader market, market reaction to the minutes was evident. In response to the meeting minutes and pullback in the U.S equity markets, Bitcoin (BTC) fell by 2.7% in the hour following the release.

The pullback continued, with Bitcoin (BTC) falling to a day low of $42,505 before finding support. Bitcoin (BTC) ended the day down by 5.23% at $43,433.

Things were not much better elsewhere. Litecoin (LTC) slid by 7.59%, with Ethereum (ETH) falling by 6.53%.

At the time of writing, Bitcoin (BTC) was down by 1.08% to $42,965. A move back through Wednesday’s high $47,067 would be needed to support a near-term return to $50,000 levels.

Support at Wednesday’s low $42,511 will be key. A fall through to sub-$42,500 would bring sub-$40,000 levels into play for the first time since September 2021.

Through this morning, Bitcoin (BTC) has managed to recover from an early low of $42,600, suggesting strong support at around the $42,500 level.

BTCUSD 060122 Daily Chart
Source: FXEMPIRE

Looking across to the U.S Futures, the Dow Mini was up 14 points, while the S&P500 and the NASDAQ were pointing to bearish starts. For the day ahead, expect any major moves across the U.S majors and any FOMC member chatter to further influence.

Airbnb Could Adopt Cryptocurrencies Thanks to a Twitter Poll

An increasing number of corporate entities are enabling cryptocurrency payment options for their customers. However, some companies are taking an unlikely route in adopting cryptocurrencies.

Airbnb Users Want Company to Provide Crypto Payment Options

A recent poll by Airbnb CEO Brian Chesky has seen its customers ask for cryptocurrency payment options. Chesky conducted a Twitter poll over the weekend, asking his 399k followers to suggest a feature or product the company should launch in 2022.

In a follow-up tweet earlier today, Chesky pointed out that he has received 4,000 suggestions so far, and integrating cryptocurrency payment options tops the list. Airbnb users want to rent their next house or apartment on the platform and pay for the services using Bitcoin or other cryptocurrencies.

Other top requests included transparent pricing displays, a guest loyalty program, updated cleaning charges, and better customer service. The Airbnb CEO said he also received a couple of token ideas. However, he said the company’s payment selection would not be limited to one or two cryptocurrencies.

If Airbnb goes on to integrate cryptocurrency payment options, it wouldn’t be a surprise to the broader crypto community. In an interview with The Verge in November, Chesky said Airbnb is looking into the cryptocurrency and metaverse sectors.

“We are definitely looking into it. Absolutely. Like the revolution in travel, there is clearly a revolution happening in crypto. Airbnb and crypto both have interesting relationships with trust,” he said.

AMC Ran a Similar Poll Last Year

AMC, one of the leading theater chains in the world, entered the cryptocurrency space in November. On November 12, the company announced that it was now accepting Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

AMC’s CEO Adam Eron conducted a Twitter poll in September to ask his followers if they want the company to start accepting cryptocurrencies. 68.1% of the respondents replied affirmative, and the company now accepts cryptocurrency payments.

The company said it intends to add Dogecoin and Shiba Inu payment options soon.

Litecoin & Bitgert (BRISE) Price Predictions for 2022

  • Bitgert is launching a zero gas fee blockchain
  • Brise exchange scheduled for Q1 2022 launch
  • Bitgert dev team is doxxing
  • Litecoin 2022 roadmap targets mass adoption

Litecoin and Bitgert (BRISE) recorded unprecedented growth in 2021. Last year, Litecoin hit an all-time high price in the 10 years the coin has been around. Bitgert (BRISE) also recorded an all-time high price last year.

Litecoin and Bitgert (BRISE) coins’ 2022 price prediction is promising. Though optimistic, predicting the crypto market can be tricky because of the volatile nature of the market. But predictions by the crypto experts are, in most cases, accurate.

There are factors that tell whether a certain coin will be mooning or not. One of them is the roadmap, especially the products the team is planning to launch. Both Litecoin and Bitgert have impeccable 2022 roadmaps, which is why the crypto community believes they will continue mooning in 2022.

Bitgert (BRISE) has one of the most astounding 2022 roadmaps. The team has promised to launch critical products for this project. It is also important to mention that Bitgert is one of the youngest and fastest-growing crypto projects today. It is a DeFi project that launched end of July 2021, making it very young compared to Litecoin, which launched in 2011.

Just 5 months old, Bitgert (BRISE) has made incredible accomplishments in building a p2p payment system that is rivaling Litecoin and others. The team has already launched the Bitgert Audits, Brise wallet, Bitgert Swap, listed on multiple tier-2 exchanges, and Bitgert staking is ongoing. All these are 2021 roadmap products that made Bitgert (BRISE) moon.

But crypto community believes Bitgert coin prices will grow in 2022 with the Brise exchange and the zero gas fee blockchain releases. Brise exchange is coming up in Q1 2022 and will be a centralized exchange, which has excited the crypto community.

The team also announced the zero gas fee blockchain late last year. This is a game-changing development as it will be the first gasless blockchain. The team is addressing the issue of the costly gas fee and is attracting millions of blockchain users. These two products will make the Bitgert coin moon in 2022.

The doxxing of the Bitgert team is also expected to affect the price of Bitgert coin positively as more investors will have confidence in the project. Litecoin, on the other hand, has a strategy to expand its market reach. The Litecoin team is planning a mass adoption strategy that will make Litecoin the number digital currency.

The adoption of Litecoin globally will see the demand for this deflation token skyrocket in 2022. The market value of the Litecoin token will also increase if the strategy is successful. Both Litecoin and Bitgert (BRISE) coin’s price predictions look good in 2022.

Bitgert (BRISE) staking is still ongoing. To participate, buy $BRISE at PancakeSwap, MEXC Global, Bitmart, LBank, XT.com, and other exchanges. For more information about Bitgert coin, check out the following platforms:

Website: www.bitgert.com

Telegram: https://t.me/bitgertbrise

Coinmarketcap: https://coinmarketcap.com/currencies/bitrise-token/

 

What Can You Buy With Cryptocurrencies?

The cryptocurrency market has become one of the leading financial markets in the world, thanks to its recent growth. The industry is worth more than $2 trillion, and with this level of growth comes the adoption. However, despite the growing popularity of cryptocurrencies, some people still don’t know what they can purchase with their crypto.

To address those concerns, this article informs you of the various places where you can pay with cryptocurrencies.

Cryptocurrencies are accepted in many sectors

A decade ago, Bitcoin was a relatively unknown financial asset. However, nowadays, it is known in every part of the world and is slowly going mainstream. With the mainstream adoption of cryptocurrencies increasing, it became easier to pay for goods and services using Bitcoin and other cryptos.

El Salvador became the first country to make Bitcoin a legal tender, and you can pay for anything with BTC. The United States, Canada, Spain, the United Kingdom, South Korea, and Singapore are amongst the countries that are also recording an increase in cryptocurrency transactions. Here are some of the ways to use your cryptocurrencies to pay for goods and services.

Technology and Ecommerce

One of the areas where you can easily spend your cryptocurrencies is technology and eCommerce. eCommerce companies are making it easier for their customers to pay for their products using BTC and other cryptocurrencies.

Overstock is one of the leading retailers that allows users to pay for their products with crypto, thanks to its partnership with Coinbase. NewEgg is an online retailer of technology products like computer hardware and consumer electronics, where you can use your bitcoins to pay for these products. Alza, the leading online retailer in the Czech Republic, and Japan’s Rakuten are other top retailers that accept cryptocurrencies.

If you wish to pay for your domain name in bitcoin, then Namecheap is the hosting company you should patronize. The Internet Archive also allows users to access web archives and accepts bitcoin donations.

AT&T is one of the first major mobile carriers globally to enable its users to pay for services using cryptocurrencies. The company partnered with BitPay to provide the crypto payment option to its subscribers.

Tech giant Microsoft allows its users to top up their Microsoft account using cryptocurrencies. The company suspended the service for a while but reactivated it as the adoption of BTC and other cryptos grew.

Dish, one of the leading TV service providers in the United States, allows users to pay for their cable subscription using Bitcoin, thanks to its partnership with Coinbase.

Entertainment sector

One of the areas where cryptocurrencies have gained adoption is the entertainment sector. It is becoming easier to pay for services using bitcoin and other cryptos in this industry. AMC, one of the leading cinema chains globally, now allows people to pay for movie tickets and other services with a few cryptos such as BTC, ETH, SHIB, and DOGE.

Amazon-owned leading game streaming platform Twitch is another place where you can pay for services using Bitcoin. The company briefly removed the service in March 2019 but has re-enabled it in June 2020.

Food Industry

Another area where cryptocurrency adoption is growing is the food sector. Several fast-food joints are now accepting Bitcoin and other cryptocurrencies as payment options for their products.

Burger King Venezuela partnered with Cryptobuyer to accept cryptocurrencies as a mode of payment. Their customers can pay in Bitcoin, Dash, Litecoin, Ethereum, and Tether. Pizza Hut is another giant pizza franchise that allows customers to pay for their food with Bitcoin.

KFC Canada is another major fast-food company that accepts Bitcoin as payment for its products. The company partnered with BitPay to process the payments. Denver-based Quiznos partnered with Bakkt to launch a pilot that allows customers to purchase food with bitcoin via the Bakkt app.

Sports

Cryptocurrency companies have penetrated the sports industry. Over the past few months, crypto companies such as FTX and Crypto.com have partnered with numerous sporting institutions to increase the awareness of cryptocurrencies.

The adoption goes beyond sports entities partnering with cryptocurrency companies. Some sporting institutions now accept cryptocurrency payments. The Dallas Mavericks accepts Bitcoin as a payment method for both game tickets and merchandise, and BitPay processes cryptocurrency payments via the team’s website.

The Miami Dolphins is another team that allows you to pay for game tickets using Bitcoin and Litecoin.

Portuguese-based football team Benfica is one of the first soccer institutions in Europe to accept Bitcoin for game tickets and merchandise.

Travel and Hospitality

The hospitality industry is one of the biggest promoters of cryptocurrencies. Richard Branson’s Virgin Mobile and Virgin Airlines allow you to pay for space travel with BTC. Norwegian Air Shuttle (Norwegian), Scandinavia’s largest airline and Europe’s third-largest budget airline, is another travel company that allows customers to pay for tickets with cryptocurrency.

CheapAir, one of the leading online travel agencies in the United States, partnered with Coinbase to allow its customers to pay for travel and hospitality services with Bitcoin. Travala and Bitcoin.Travel are two other leading online travel agency that permits their customers to pay for services using BTC and a few other cryptocurrencies.

Real Estate and Art

An increasing number of real estate firms accept cryptocurrencies as payment for their properties. Cryptocurrencies have also penetrated the art world. British auction house Christie’s now accepting Bitcoin and Ether for some of its paintings, both physical and digital.

Gift Cards and VPNs

The other sectors where cryptocurrencies have gained adoption are VPN and gift cards. Gyft allows users to buy and sell gift cards online for top retailers like Amazon, iTunes and Starbucks, and the company accepts Bitcoin as payment for its services.

ExpressVPN, CyberGhost, NordVPN, and PrivateVPN are some of the leading VPN service providers that allow users to pay for their services and upgrade their accounts using Bitcoin and a few other selected cryptocurrencies.

Final Thoughts

The use of cryptocurrencies to pay for goods and services is becoming increasingly popular. Businesses are beginning to accept cryptocurrency payments directly or through third-party processors like BitPay, a trend that seems set to continue through 2022.

 

This Holiday Season, “Trade For More”, With Multiple Fees Slashed to Zero on All Crypto CFDs at Libertex

Libertex is thrilled to announce its latest feature and one of the most unique on the market: zero-commission crypto CFD trading! Plus, the elimination of swap and exchange fees on all cryptocurrency CFD trades! Trade CFDs on Bitcoin, Ethereum, Litecoin, Stellar, Solana or any of the crypto CFDs on the Libertex platform without some of the usual fees getting in the way. This option is now available for both new and existing clients on one of the most user-friendly trading platforms!

Fewer Fees, More Possibilities

Effective immediately, there will be NO exchange fees, NO commissions and NO swaps on any cryptocurrency CFDs for all Libertex platform retail clients (with the exception of UK retail clients, where cryptocurrency CFDs are not available). This means that the only thing you pay on a CFD trade is the spread. For Libertex crypto CFD traders, this can obviously save a substantial amount of money compared to the competition when making multiple trades, overnight trades, high-volume trades and more.

The community asked, the company listened! Ditch those fees and trade crypto CFDs

The elimination of three different kinds of fees not only makes cryptocurrency CFD trading on Libertex more affordable but also gives you the freedom to trade without worrying about incurring extra charges.

Cryptocurrencies have shown significant price movements in the market these last few years, and this has presented traders with interesting new options. You can explore all of them with Libertex, which offers up-to-date market conditions for its traders, all of which are available at its market prices.

Crypto CFD traders in the Libertex community raised some concerns and the company listened: crypto trading should be fast and more affordable. Libertex was founded on the principle of making trading possible for as many traders as possible on terms that work for them. So, Libertex became possibly the first trading platform to eliminate all of these kinds of fees on crypto trading. And this is not an exclusive offer hidden behind some small print and strict conditions; anyone can join Libertex and start trading cryptocurrency CFDs on these exact conditions.

Libertex: the number one platform for crypto trading

With over 24 years of financial market experience and more than 40 international awards, including most recently Best Trading Platform (Forex Report, 2021) and Most Trusted Broker of Europe (Ultimate Fintech, 2021), Libertex has been one of the preferred choices for all traders looking to make the most of modern technologies, whether they are experienced professional traders or beginners who can start with a practice demo account. Thanks to the fast, user-friendly apps for mobile and desktop as well as your Internet browser, you can manage your market activity from any device, anywhere and anytime.

As possibly the only trading platform to provide crypto CFD trading with zero commission, zero swaps and zero exchange fees, Libertex has become one of the most cost-effective places to buy, sell and exchange the most popular cryptocurrencies. By comparison, other trading platforms and crypto exchanges impose maker and taker fees ranging from 0.1% to 2%.

Sign up for free and… “Trade For More”

It only takes a few seconds to register with Libertex and start experiencing one of the most unique crypto trading options. And that’s not all. Faithful to its “Trade For More” motto, Libertex is constantly striving to provide the highest-quality services to its clients. This includes a full range of stock, forex and crypto CFDs and extensive analytical tools.

If you’re ready to level up your trading game in the new year, then ditch those commissions, swaps and exchange fees for good and start trading crypto CFDs with Libertex!

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Cryptocurrency instruments are not available to retail clients in the UK.

About Libertex

Part of the Libertex Group, Libertex is a Broker regulated by the Cyprus Securities and Exchange Commission, offering tradable CFDs with underlying assets being commodities, Forex, ETFs, cryptocurrencies and other. Libertex also offers commission-free investments of real stocks.

Over the years, Libertex has received more than 40 prestigious international awards and recognitions, including “The Most Trusted Broker in Europe” (Ultimate Fintech Awards, 2021). Libertex is the Official Trading Partner of Tottenham Hotspur FC bringing the exciting worlds of football and trading together.

Since founded in 1997 the Libertex Group has grown into a diverse group of companies, brokers, dealers, educational and IT-development centers which allow the group to operate globally, serving millions of clients from over 120 countries.

For more information about Libertex visit www.libertex.com