Skip to main content

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment

Peter Brandt: 'Laser eyes' to blame for Bitcoin correction — but it's 'very mild' anyway

Bitcoin has corrected 17% so far and could have further to go. But it should be OK.

Veteran trader and chart guru Peter Brandt has made a cheeky correlation between the current Bitcoin market correction and the prevalence of ‘laser eyes’ on Twitter.

In a tweet on April 18, the technical analyst tied the correction to irrational exuberance in markets as exemplified by the meme:

“The chances of a correction in cryptos is directly related to the prevalence of laser eyes on Twitter. Want the correction to end? Get rid of your laser eyes.”

The laser eyes meme that initially swept across crypto social media in February 2021 saw crypto influencers, industry leaders, and regular users change their Twitter profile pictures to include laser eyes. The fad was to signify support for Bitcoin’s price surging until it hit $100K.

Coincidentally, it also roughly coincided with a local top for Bitcoin prices which reached $57,800 on Feb. 21 before correcting 25% to bottom out at $43,500 a week later.

In this week’s dip Bitcoin has corrected from its recent all-time high of $64,600 on April 14 to current prices of $53,600 — a move of 17% at the time of writing.

However Brandt’s actually not all that concerned about the pullback. Brandt’s draw down figures put the current correction closer to 20% which he claims is “very mild historically”. In an April 20 tweet he said there is a strong history of Bitcoin bull trends to test the 18 week moving average which was at $46,615 at the time. This would entail a much larger correction of around 28%.

The average correction magnitude from the past 14 retracements is around 35% according to Brandt’s data. A fall to this level would send BTC prices tumbling back to $42,000.

Other analysts have also pointed to the historical record as a reason not to worry. ‘Rekt Capital’ tweeted that the February dip was three times deeper than this week's dip:

Brandt explained his 'laser eyes' theory in interview with crypto researcher Laura Shin on April 13, stating that over-enthusiasm in any market is always a warning sign:

“The more people put the laser eyes, you know at least the market’s going to get choppy for a while and stop going straight up… When people start pounding their chest in public, ‘I own Bitcoin. I own Bitcoin. Look at me. I have laser eyes.’ That’s always going to be a sign that the market is at least going to take a rest.”

At the time of writing, BTC is trading down 5% over the past 24 hours at $53,600.

https://ift.tt/3ndWbaD
Labels:

Comments

Post a Comment

Popular posts from this blog

Blockchain Software Firm Consensys Acquires Mycrypto Ethereum Wallet

On February 1, the blockchain infrastructure firm Consensys has revealed it has acquired the Ethereum-based wallet Mycrypto and plans to merge the wallet into Metamask. The price Consensys paid for Mycrypto was not disclosed but the announcement notes that the acquisition will “further improve the security of all the products.” Consensys Obtains Mycrypto Ethereum Wallet, Plans to Merge With Metamask in the Future Consensys has acquired the Ethereum-based wallet Mycrypto for an undisclosed sum according to an announcement released on Tuesday. The deal aims to strengthen the company’s Ethereum wallet Metamask and “enhance Web3 experiences.” The eventual merger between the two Ethereum interfaces will “provide users with a heightened experience that is even more extensive and secure,” according to Consensys. Consensys is an Ethereum software company led by one of the Ethereum co-founders Joseph Lubin. The Web3 wallet Metamask, with 21 million monthly active users (MAUs) is owned by C...
Post a Comment
Read more

Bitcoin Legal Tender in 3 Days but Survey Shows 7 Out of 10 Salvadorans Want Bitcoin Law Repealed

Bitcoin is becoming legal tender in El Salvador in three days. However, a nationwide survey conducted by the University Institute of Public Opinion (Iudop) shows that seven out of 10 Salvadorans want the government to repeal the Bitcoin Law. El Salvador’s Bitcoin Law Goes Into Effect in 3 Days The University Institute of Public Opinion (Iudop) in El Salvador conducted a study between Aug. 13 and Aug. 20 of how the public views the country’s upcoming Bitcoin Law. The institute is a research center of the José Simeón Cañas Central American University (UCA). El Salvador’s Bitcoin Law is set to go into effect on Sept. 7 , when BTC will be legal tender in the country alongside the U.S. dollar. A total of 1,281 respondents ages 18 and over participated in this national survey that “represents the entire adult population residing in the country,” according to the institute. Out of all the respondents, 62.4% said they were aware of the approval of the Bitcoin Law by the deputies of the ...
Post a Comment
Read more

The Congolese Mountain of Gold: Surprise Discovery in Africa Shows Metal’s Scarcity Is Hard to Prove

A myriad of gold bugs like to compliment the yellow precious metal for its ostensible scarcity, as estimates say only 2,500 to 3,000 tons of new gold is produced annually. While new gold discoveries have seemingly slowed, investigative studies also show that in some areas, gold is being smuggled into the economy by the ton, and often never accounted for as far as per annum issuance estimates. Recently, reports show a whole mountain of gold was discovered in the Congo, as the Democratic Republic of the Congo is well known for being a region that sees tons of smuggled gold filtered into the global financial system unreported. Surprise Gold Deposits Continue to Crack the Precious Metal’s Scarcity Proposition It has always been said that the precious metal gold (Au) is scarce, and some reports even say that gold mining on earth will end by the year 2050 . Additionally, estimates also show that there’s roughly 2,500 to 3,000 tons of new gold that is accounted for and enters into the fin...
Post a Comment
Read more