Fear
CoinList addresses ‘FUD’ on withdrawals, cites technical issues for delays
Cryptocurrency exchange and initial coin offering (ICO) platform CoinList took to Twitter to address “FUD” after a blogger tweeted that users reported being unable to withdraw funds for over a week, sparking fears the company was having liquidity issues or w insolvent. “There is a lot of FUD going around that we would like to address head-on,” CoinList said in a Nov. 24 Twitter thread that stated that the exchange is “not insolvent, illiquid, or near bankruptcy.” It said, however, that its deposits and withdrawals are affected by “technical issues.” 2/ We are upgrading our internal ledger systems and are migrating wallet addresses involving multiple custodians. This is one of many efforts we are undertaking to offer our customers around the world better products and services while mai...
CoinList addresses ‘FUD’ on withdrawals, cites technical issues for delays
Cryptocurrency exchange and initial coin offering (ICO) platform CoinList took to Twitter to address “FUD” after a blogger tweeted that users reported being unable to withdraw funds for over a week, sparking fears the company was having liquidity issues or w insolvent. “There is a lot of FUD going around that we would like to address head-on,” CoinList said in a Nov. 24 Twitter thread that stated that the exchange is “not insolvent, illiquid, or near bankruptcy.” It said, however, that its deposits and withdrawals are affected by “technical issues.” 2/ We are upgrading our internal ledger systems and are migrating wallet addresses involving multiple custodians. This is one of many efforts we are undertaking to offer our customers around the world better products and services while mai...
Here’s why holding $20.8K will be critical in this week’s $1B Bitcoin options expiry
Bitcoin (BTC) experienced a 16.5% correction between Aug. 15 and Aug. 19 as it tested the $20,800 support. While the drop is startling, in reality, a $4,050 price difference is relatively insignificant, especially when one accounts for Bitcoin’s 72% annualized volatility. Currently, the S&P 500’s volatility stands at 31%, which is significantly lower, yet the index traded down 9.1% between June 8 and June 13. So, comparatively speaking, the index of major U.S.-listed companies faced a more abrupt movement adjusted for the historical risk metric. At the start of this week, crypto investors’ sentiment worsened after weaker conditions in Chinese real estate markets forced the central bank to reduce its five-year loan prime rate on Aug. 21. Moreover, a Goldman Sachs investment ...
Crypto markets bounced and sentiment improved, but retail has yet to FOMO
An ascending triangle formation has driven the total crypto market capitalization toward the $1.2 trillion level. The issue with this seven-week-long setup is the diminishing volatility, which could last until late August. From there, the pattern can break either way, but Tether and futures markets data show bulls lacking enough conviction to catalyze an upside break. Total crypto market cap, USD billion. Source: TradingView Investors cautiously await further macroeconomic data on the state of the economy as the United States Federal Reserve (FED) raises interest rates and places its asset purchase program on hold. On Aug. 12, the United Kingdom posted a gross domestic product (GDP) contraction of 0.1% year-over-year. Meanwhile, inflation in the U.K. reached 9.4% in July, the highest figur...
Bitfinex Bitcoin longs hit a record-high, but does that mean BTC has bottomed?
Bitcoin (BTC) has been unable to close above $32,000 for the past 28 days, frustrating bulls and pushing the Fear and Greed index to bearish levels below 10. Even with June 6’s small boost, the tech-heavy Nasdaq stock market index is down 24% year-to-date. Investors who keep a close eye on regulatory development were possibly scared after New York state made clear its intention to regulate the crypto industry, including Bitcoin mining. On June 2, New York Attorney General Attorney Letitia James issued an investor alert against “risky cryptocurrency investments,” citing the assets’ volatility. According to Cointelegraph, the attorney general is convinced that crypto investments create “more pain than gain” for investors. The New York State Senate approved a pro...
Is the bottom in? Data shows Bitcoin derivatives entering the ‘capitulation’ zone
Analysts love to issue price predictions and it seems that 9 out of 10 times they are wrong. For example, how many times did analysts say “we will never see Bitcoin back at X price again,” only to see it plunge well below that level a few months later? It doesn’t matter how experienced a person is or how connected in the industry. Bitcoin’s (BTC) 55% volatility must be taken seriously and the impact this has on altcoins is usually stronger during capitulation-like movements. I was undeniably wrong about how much crypto could fall from macro contagion. I remain bullish on the space as a whole and think it is the most important mega-trend of our times. I joined CT during 2018 and I will be here with you guys in the coming yrs, bull or bear. — Zhu Su (@zhusu) Jan...
Bitcoin price can’t find its footing, but BTC fundamentals inspire confidence in traders
Bitcoin’s (BTC) sudden crash on Jan. 10 caused the price to trade below $40,000 for the first time in 110 days and this was a wake-up call to leveraged traders. $1.9 billion worth of long (buy) futures contracts were liquidated that week, causing the morale among traders to plunge. The crypto “Fear & Greed” index, which ranges from 0 “extreme fear” to 100 “greed” reached 10 on Jan. 10, the lowest level it has been since the Mar. 2020 crash. The indicator measures traders’ sentiment using historical volatility, market momentum, volume, Bitcoin dominance and social media. As usual, the panic turned out to be a buying opportunity because the total crypto market capitalization rose by 13.5%, going from a $1.85 trillion bottom to $2.1 trillion in le...
Cuba blames unrest on U.S. interference as Joe Biden backs protests
Cuba blamed historic protests that took place over the weekend on U.S. “economic asphyxiation” and social media campaigns by a minority of U.S.-financed counter-revolutionaries, while U.S. President Joe Biden said he stood with the Cuban people. The streets of Havana were quiet on Monday, although there was a heavy police presence. Outages in mobile internet – the only way many Cubans have of accessing the web – were frequent. Chanting “freedom” and calling for President Miguel Diaz-Canel to step down, thousands of Cubans joined street protests here from Havana to Santiago on Sunday in the biggest anti-government demonstrations on the Communist-run island in decades. At least 80 protesters, activists, and independent journalists had been detained nationwide since Sunday, according to exile...
Lagos assembly begins audit of 57 councils
The Lagos House of Assembly has commenced an audit exercise for all the 20 Local Government Areas (LGAs) and the 37 Local Council Development Areas (LCDAs) in the state. The Chairman, House Committee on Public Account (Local), Mojeed Fatai, made this known in a statement issued in Lagos on Saturday. Fatai said that the committee was expected to submit its report to the House after the weeklong exercise. The lawmaker explained that the exercise was aimed at checking probity and accountability in the local government administration as provided in the 1999 (Amended) Constitution. He said: “The essence of the exercise is to allow the committee go through the 2019 report of the Auditor General without fear or favour to any local council indicted by the officials of the Auditor General. “Also, t...
Yahaya Bello: Nigeria deserves the best captain no matter where he comes from
The Governor of Kogi State, Alhaji Yahaya Bello, has said that rather engage on the unconstitutional issue of rotational presidency, what Nigerians should focus on is look for that Nigerian, no matter where he comes, who can be the captain to pilot the country to the promised land. The governor who stated this at the First Annual Governor Yahaya Bello (GYB) Seminar for Nigeria’s Political and Crime Correspondents/Editors at the Transcorp Hilton, Abuja, said that even after 16 years of Peoples Democratic Party (PDP) and another six years of All Progressives Congress (APC), in the country, the problems of the nation has not been solved by the rotational presidency that has taken place over the years. Bello insisted that the political party must not limit the choice of Nigerians to any region...
PDP vice chairman: Electronic transfer of results, a must for free, fair polls
The Peoples Democratic Party (PDP) in the South-south has called on the National Assembly to retain electronic transmission of results in the Electoral Act The National Vice Chairman, South-south of the party, Dan Orbih, made the call on Wednesday in an interview with the News Agency of Nigeria (NAN) in Benin. He was reacting to the purported removal of the provision for the electronic transfer of result provision from the proposed amendment Act currently being debated by the National Assembly. “Nigerians should resist the removal of electronic transmission of election results during elections from the Electoral Act because it is an invitation to unending electoral fraud,” Mr Orbih said. The introduction of electronic transmission of election results from the polling units to collation cen...
Imo council chairs petition President Buhari over ‘lopsided appointments’ in NDDC
The Oil Producing Local Government Areas (LGAs) in Imo State under the auspices of Urashi Peoples’ Congress (UPC) has called on President Muhammadu Buhari to reverse what it described as persistent lopsided appointment in the management of the Niger Delta Development Commission (NDDC). In an open letter addressed to the president, which was signed by the Coordinator, Mr. Reginald Uwakwe, a copy of which was made available to newsmen yesterday, the group lamented that the appointments into key positions i.e. the managing director of the NDDC, have been allegedly skewed in favour of only four states of Rivers, Akwa-Ibom, Bayelsa and Delta, out of the nine member states that made up the commission. It said between 2001 and 2021, the list of managing directors and their states included Dr. God...
