News updates January 14, 2022
1. German Online Bank N26 to Launch Cryptocurrency Trading Business This Year
N26, a German online neobank, has announced it will get into the cryptocurrency trading business this year. The announcement was made by Max Tayenthal, co-founder and a CEO of the company, who pondered whether focusing on cryptocurrency instead of going global may have been a better idea. The company closed operations in the U.K. and is now exiting the U.S.
2. US Inflation Rate Jumps Highest in 40 Years to 7%, Democrats Concerned Inflation Will Haunt the Party
One of the hottest topics in the United States in 2022 is the rising inflation, as the U.S. Labor Department’s data published on Wednesday indicated that the consumer price index (CPI) rose to 7% in December. This represents the largest annual jump since 1982. Federal Reserve governor Lael Brainard is set to tell congressional leaders today that the central bank is focused on battling inflation. Moreover, members of the Democratic party are concerned that the rising inflation may cost the Biden administration politically.
3. Bitcoin and Ethereum Dip Towards Key Support, XMR and NEAR Gain
Bitcoin price started a downside correction from the USD 44,400 resistance.
Ethereum failed to surpass USD 3,400, XRP corrected below USD 0.780.
XMR and NEAR gained over 8%.
Bitcoin price made another attempt to gain pace above USD 44,000. BTC formed a high near USD 44,400 and started a downside correction. It is currently (04:18 UTC) trading near USD 42,800, with a key support at USD 42,000.
Similarly, most major altcoins are correcting gains. ETH retreated lower from the USD 3,400 resistance zone. XRP declined below the USD 0.780 support zone. ADA is down almost 5% and traded below the USD 1.265 support zone.
4. Bitcoin Death cross Incoming! Sell off or a Bull run, What’s Next for BTC Price*
Bitcoin (BTC) is regaining ground after briefly passing the $40,000 support level on January 10 for the first time since September 2021, reaching lows of $39,650.
According to the expert, there have been eight death crosses in BTC’s history, four of which indicated the bottom and four of which foreshadowed sell-offs ranging from 30% to 65%.
Bitcoin is likely to record its ninth death cross in its brief history, according to crypto analyst Lark Davis. The “death cross” is a bearish signal that occurs when the daily moving average (MA) 50 goes below the daily moving average (MA) 200.
5. Right Time To Buy More Bitcoin ? Here’s What On Chain Data Say !*
The cryptocurrency market is now in an upward trend. BTC is expected to reach $46K, while ETH is hovering at $3.2K. Most altcoins are losing money in lockstep with the market. Altcoins, on the other hand, are defying the trend and printing substantial gains.
BTC is currently trading at $44k, up 7.8% from its lowest support. The price has already broken over the $44k neckline, and if the price maintains at this level, crypto traders may be able to profit from a long opportunity.
Bitcoin’s price is gradually fluctuating. As per analyst the $42.8K price range is the one to watch. BTC might test $46K if this trend continues.
Therefore, you'd rather be long than short.
6. More US First-Time Homebuyers Sell Crypto For Down Payment - Survey
Some 12% of US first-time homebuyers surveyed in the fourth quarter of last year said that selling cryptocurrency helped them save for a down payment -- up from 9% in the third quarter of 2020, according to a survey by US real estate listing provider Redfin
The Redfin-commissioned survey included some 1,500 American residents who said they planned to buy or sell a home in the following 12 months. Conducted by research technology company Lucid from December 10 to December 13, 2021, the survey focused on 215 of the 1,500 respondents who indicated they were planning to buy their first home in the next year
With extra time and a lack of exciting ways to spend money, many people began trading cryptocurrencies during the pandemic,” said Daryl Fairweather, Chief Economist at Redfin
