Monat: Januar 2023

• The European Central Bank (ECB) has stated that decisions regarding the digital euro should be left to the hands of lawmakers.
• The ECB has stated that it does not have access to personal data and that it will be up to lawmakers to determine the balance between privacy and other essential public policy objectives.
• Lawmakers will likely decide if the virtual euro can be used as official cash and if third parties are necessary to disseminate it.

The European Central Bank (ECB) has announced that decisions regarding the digital euro should be left in the hands of legislators, rather than the bank itself. Speaking to MEPs on Monday, ECB executive board chairman Fabio Panetta said that the organization does not have access to personal data, and that it is up to lawmakers to determine the balance between privacy and other essential public policy objectives.

The introduction of the digital euro will likely require the use of middlemen like private lenders to manage user accounts, however, the ECB has reassured that these middlemen will not have greater access than they already have. Additionally, it is up to lawmakers to decide if the virtual euro can be used as official cash and if third parties are necessary to disseminate it.

The ECB has also stated that the digital euro will not be program money, which would impose restrictions on users. Furthermore, Panetta emphasized that central banks print money, not certificates, and that the leadership of the central bank is not asking for access to details about specific transactions.

The digital euro is part of a larger initiative by the ECB, involving the development of the new payment system, the Target Instant Payment Settlement (TIPS). The goal of this project is to enable real-time payments across Europe and to increase competition in the payments market.

The ECB is currently working with the European Commission to develop the legal and technical framework of the digital euro and the TIPS system. This includes ensuring that the rights and obligations of users are clear, and that the system is secure and resilient. The ECB also plans to consult with other stakeholders, such as central banks and financial institutions, in order to ensure that the system is able to meet the needs of the users.

The introduction of the digital euro will mark a major milestone for the European Union, as it will be the first universal digital currency for the bloc. It is expected that this will lead to increased competition in the payments market, improved financial inclusion, and enhanced consumer protection. The ECB is confident that the digital euro will be a successful project and that it will bring significant benefits to citizens and businesses.

• EthereumPOW (ETHW) was trading above $4.0 with a bearish bias after posting an impressive performance since the start of the year.
• ETHW price is bullish as it seeks to break out of a rounding bottom chart pattern, with the recent rally flipping the 50-day simple moving average (SMA) at $3.4 back into support.
• Global crypto market cap has expanded a mere 0.1% to approximately $990 billion, with Bitcoin (BTC) struggling to stay above the $21,000 level and Ethereum (ETH) up 0.8%.

EthereumPOW (ETHW) has been on an impressive run since the start of the year. At the time of writing, the proof-of-work (PoW) token was trading above $4.0 with a bearish bias and had a live market cap of $434.6 million placing it at #78 according to CoinMarketCap ranking. Its daily trading volume was up 141.6% on the day to stand at approximately $29.8 million. The ETHW price has increased more than 45% in 2023, reaching a high of $4.4 on Tuesday.

The wider market posted a slight recovery with the global crypto market cap expanding a mere 0.1% to approximately $990 billion. The pioneer cryptocurrency Bitcoin (BTC) was trading in the green as it struggled to stay above the $21,000 level after climbing 0.3% over the last 24 hours. The now proof-of-stake (PoS) Ethereum was up 0.8%, the exchange token Binance Coin was down 0.3%, and Cardano had lost 1.2%. The biggest gainer amongst the top-tier cryptos was Dogecoin which had gained 2.32% over the same timeframe.

The ETHW price is bullish as it seeks to break out of a rounding bottom chart pattern as shown on the daily chart. The recent rally saw ETHW flip the 50-day simple moving average (SMA) at $3.4 back into support, validating the possibility of a continued recovery for the altcoin. If the ETHW price can maintain its momentum and break past the resistance at $4.4, it could surge 56% to its target of $6.5.

In order for ETHW to reach its target of $6.5, it needs to maintain its momentum and break through the resistance at $4.4. The bullish sentiment could be driven by a number of factors such as increasing institutional demand, more adoption of cryptocurrencies, and wider market recovery. EthereumPOW’s PoW algorithm could also be an attractive option for miners who are looking for alternative coins to mine.

It is important to note that the crypto market is highly volatile and ETHW price may not reach its target of $6.5. Traders should therefore exercise caution and use stop losses when trading ETHW. Additionally, they should keep track of the overall crypto market trend as well as news related to EthereumPOW.

• Bitcoin price prediction for January 11th shows that BTC is trading at $17,326 with a 0.67% loss.
• If the king coin is able to break above the upper boundary of the channel, it could touch the nearest resistance level of $18,500.
• BTC/USD needs to claim this important resistance level to head to the upside and remain above the 9-day and 21-day moving averages.

The Bitcoin price prediction for January 11th shows that BTC is currently trading at $17,326 with a 0.67% loss. Bitcoin is seen hovering above the 9-day and 21-day moving averages, and if it breaks above the upper boundary of the channel, BTC/USD could touch the nearest resistance level of $18,500.

In order for Bitcoin to remain above the 9-day and 21-day moving averages, the bulls need to make the $17,000 support level strong. The king coin needs to claim this important resistance level to head to the upside and remain above the 9-day and 21-day moving averages.

Looking at the Relative Strength Index (14), the signal line is likely to see a bullish crossover and move towards the overbought zone as the current market price is close to the resistance level of $17,500. If Bitcoin is able to break above this level and reach the $18,000 mark, then the coin might extend its gains to $19,000, $21,000 and $23,000 in the long-term.

On the other hand, if the bears take control of the market, the coin could fall to the support levels of $16,000, $14,000, and $12,000. Nevertheless, it is important to note that Bitcoin will remain above the moving averages as long as the bulls are in control of the market.

• Indians transferred $3.8 billion in crypto out of the country between February and October of last year.
• This was due to the strict crypto taxation rules imposed in India in February of 2022, including a 30% tax on crypto profits and a 1% tax deducted at source (TDS) on all transactions.
• Research by the Esya Center noted that domestic cryptocurrency exchanges had lost 81% of their trading volumes within four months following the implementation of the 1% TDS rule.

In February of last year, India’s legislature passed a law that imposed a 30% tax on crypto profits which included a 1% tax deducted at source (TDS) on all transactions. The law was passed on February 1, 2022, and applied to domestic exchanges, while the 1% TDS was implemented on July 1, 2022. The new regulations caused quite a stir in the Indian crypto community, with many arguing that it would inhibit the industry’s growth and affect liquidity.

In light of the new taxation policy, research conducted by the Esya Center noted that over $3.8 billion worth of crypto was moved out of India between February and October last year. This figure is a testament to the monetary effects of the strict crypto taxation laws imposed in the country. The report also highlighted that domestic cryptocurrency exchanges had lost 81% of their trading volumes within four months following the implementation of the 1% TDS rule.

One of the exchanges expected to be affected by the new taxation policy is WazirX, one of the largest cryptocurrency exchanges in India. The exchange has already seen a significant decline in its trading volumes since the implementation of the 1% TDS rule. This has led to a decrease in liquidity, as traders are now less willing to enter the market due to the increased taxes.

It will be interesting to see how the Indian crypto market will develop in the coming months and years, as the taxation policy has had a significant effect on the industry. Many traders have already moved their assets out of India in order to avoid the high taxes, and it will likely be difficult for the market to recover from this blow. Nonetheless, the Indian crypto market is still one of the largest in the world, and with the right policies in place, it could continue to grow and thrive in the future.

-Victor AlexanderPRO INVESTOR reported that on New Year’s Eve, two phrases were projected onto the FTX Arena in Miami: “F— SBF” and “Where is my money Sam”
-The phrases refer to Sam Bankman-Fried, the former CEO of the cryptocurrency businesses FTX and Alameda Research, who is being accused of money laundering and conspiracy to commit wire fraud
-Miami-Dade County has issued a statement indicating that it will be seeking to „terminate“ its relationship with FTX and find „a new naming rights partner for the arena

On New Year’s Eve, a statement was projected onto the FTX Arena in Miami, home of the NBA’s Miami Heat, soon after midnight on January 1, 2023. The statement read “F— SBF” and “Where is my money Sam”. These phrases refer to Sam Bankman-Fried, the former CEO of the cryptocurrency businesses FTX and Alameda Research. Bankman-Fried is currently being accused with money laundering and conspiracy to commit wire fraud.

The story of Bankman-Fried and the events leading up to his arrest began when his businesses FTX and Alameda Research ran into liquidity problems and ultimately, fraud claims. Bankman-Fried was detained on December 12 in the Bahamas and was subsequently extradited to the United States in order to face the charges. He pled not guilty in a Manhattan court on Tuesday.

At the time of the transaction, FTX was the cryptocurrency “golden child” and quickly landed agreements with organizations including Major League Baseball and the Washington Wizards. The arena in Miami, which was known as the American Airlines Arena from 1999 to 2021 and, as of March 2021, FTX Arena, still appears to be associated with the firm.

In response to these events, Miami-Dade County issued a statement alongside the Miami Heat indicating it will be seeking to „terminate“ its relationship with FTX and find „a new naming rights partner for the arena“. This statement is a clear signal that the county is taking Bankman-Fried’s alleged misconduct seriously and cannot condone his actions.

The projection of “F— SBF” and “Where is my money Sam” onto the arena serves as a reminder of the serious nature of Bankman-Fried’s alleged crimes and of their consequences. It is a stark reminder of the power of the financial markets and the risks associated with investing in them. As such, it is a timely reminder to be vigilant when making financial decisions and to always be aware of the potential risks involved.